tested positive for covid-19 miller telling nbc news he's been working remotely for the last five days and has been self-isolating he tested negative every day through yesterday per a white house official today he tested positive and is in quarantine. an . it is 5:00 a.m. and futures are higher as the president keeps congress on its toes on stimulus setting new signals that deal may not be off the table. last night he ordered negotiations with the democrats to be over until the election, but last night saying that he is ready to send out stimulus checks and help the airlines if democrats get on wood. th board. and travel has not come back at all, still stuck under 1 million passengers per day we're live in washington with the latest

will google or facebook or others be broken up? congress calling for big changes at big tech. as an investor, you have to hear this news. and could be the metals is where it is at an interview on where the value is right now it is wednesday, october 7, and this is "worldwide exchange. good morning, good afternoon, good evening from wherever that you may be watching we ain't talking about love, but we are playing the music because we are talking about eddie van halen, dying yesterday at 65 years old due to cancer. rest in peace, eddie van halen you made a lot of nights a lot better thank you.

and let's see how the markets look right now, 5:00 hour as the sun is not even close to being up you. this follows a steep selloff tuesday afternoon, futures there higher about 229 the president's abrupt decision to scrap stimulus, but then around 10:00 a.m., tp.m., presi saying that the house and senate should immediately, all cap, approve $25 billion for airline payroll support and $135 billion for the small business protection act both of these will be fully paid for with unused funds for the first stimulus, the c.a.r.e.s. act, i will sign now and later on, if i'm sent the standalone bill for stimulus, checks will go out to our great

people immediately i'm ready to sign right now. are you listening nancy? meaningpelosi. and that is when futures popped. and you can see up about 177 let's get a check on oil, that is stimulus related as well. many of the commodities tend to move on every stimulus comment and hang seng and kospi finishing up nearly 1%, japan down fractionally. europe mostly slightly lower and congress is tldelivering a g blow to big tech with a scathing new report on the power these titans have. bertha coombs has more on that, and big petech getting august t big headlines. >> very much so.

that house from house democrats accuses facebook, alphabet, apple of enjoying enormous power. the panel concluded that the four tech giants stifle competition and innovation with their practices. facebook is accused of enjoying dominance in the online advertising and social networking market, and amazon is labelled as having a hold over most of its third party sellers and many of its suppliers. and apple's operating system and app store creates and enforces barriers to competition and discriminates against and excludes rivals while preferring its own offerings. and it describes google's dominance as operating as, quote, an ecosystem of interlocking monopolies. no legislative changes are imminent, but the report boost

the chances of congress making changes to antitrust laws that could result in parts of their businesses being separated sticking with social media here, with facebook in particular, the company has announced it is banning qanon across its platforms, the move is an update on the policy created in august only removing accounts related to the conspiracy theory group represented to violence. this move also the latest attempt by facebook to stop the spread of disinformation ahead of the presidential election and the fda has laid out new rules surrounding a potential vaccine for the coronavirus. the agency says that it wants vaccine developers to submit two months of safety data before applying for emergency approval. likely moving a potential vaccine authorization until after the election president trump lashed out at the decision accusing the fda of launching a political hit job on

him over a vaccine a lot of controversy on the hill >> vaccines and big technology, a lot going on thank you, we'll see you in a few minutes. >> now to the developing story out of washington, and president trump's decision abruptly to halt stimulus negotiations with democrats saying that he will bring the matter back up after the election but then seemingly contradicting that last night in a series of tweets, nbc news tracie potts is joining us now with the latest, and the latest because it seems like we switch by the hour good morning >> reporter: right, things keep changing and people are wondering so what does it mean for my $1200 stimulus check we don't know because the president says that he is willing to sign off on just that and a few other thing, but not the big deal we don't know if nancy pelosi will go for that stimulus deliberations shut down

in the middle of a pandemic by a president recovering from covid-19 he first tweeted that negotiations are off until after the election the stock market took a nose dive >> clearly this is a huge shock to the system. we know millions of americans are out of work and fendidependn another stimulus check >> reporter: and then the president said he is ready to sign off on stimulus checks and billions for airlines and small business loans the white house explaining the big deal is off, but the president wants to deal with each issue separately. still contagious, mr. trump says he is planning to attend the presidential debate in miami >> we have to ask if the stress of a debate is really worth taking a long with the infectious implications of that potentially for the people in the debate >> reporter: the president comparing covid to the flu were taken down by facebook and flagged on twitter >> you don't get a pandemic that kills a million people and it isn't even over yet with in-f w

influen influenza. so it is not correct to say that it is the same as flu. >> reporter: at least 18 people tied to the white house have now tested positive. the latest, adviser stephen miller, at the pentagon defense officials say that the joint chiefs chair and other top brass are quarantined after a coast guard official caught the virus. so we know that there were stephen of the eight joint chiefs in the meeting last friday with that coast guard admiral, so all are self-quarantined along with head of the national security agency. >> and obviously our best wishes to them to get a steedpeedy recovery are there any hopes that the stimulus talks will get back on track and if so, when? >> reporter: well, it took them a long time to get back on track the first time remember when things broke apart in july and then it was months before

nancy pelosi and treasury secretary mnuchin sat down so now with the president shutting that down, it is not clear and there doesn't seem to be a lot of hope that they will be sitting down together soon. it is washington, anything is possible, but the president clearly wants to get the checks out before the election and do the controversial stuff after the election we'll see if that happens. >> all right tracie potts, thank you and good morning. see you tomorrow well, folks, if you are frustrated or confused by the stimulus headlines, don't worry, you are not alone. every comment can move markets but jim cramer says don't fret and stay focused last night he offered up a list of stocks that he thinks will benefit even with a collapse in the stimulus negotiations, most of the names you know. focus on home depot, lowes, target, walmart, costco, fedex, yim brands, chipotle, look at

ford on that list as well. darden everybody wants to buy a used car, so auto nation, lithium loaders, dollar general, amazon and peloton. in other words, big stores, used cars and working out at home jim says despite the collapse in stimulus talk, some of those companies have yet to experience a downturn and maybe even have a huge upturn. jim says there is opportunity out there. speaking to cnbc yesterday, cleveland fed president saying it is not about when we get more stimulus, but rather just getting a deal done at all to help the economy that matters most >> timing is less important than actually having a package. i built a package into my forecast of continued recovery

and certainly the recovery will continue without it i think, but it is going to be a much slower recovery and it is disappointing that we didn't get a package done >> let's talk more now about the federal reserve stimulus and the markets. we're joined by dory i kind of miss the days that every quarter we heard from alan greenspan and now we have 400 fed speakers every day but that aside, how closely are you paying attention to stimulus packages and the federal reserve as it pertains to making money for your clients >> well, a lot obviously yesterday i think it was really interesting to hear what powell said and then tack on to what trump did. starting with powell, i think that he gave us a very clear warning, we have an incomplete recovery and this is a fragile economy, i can't lower rates

below 0%, so the answer has to come from a fiscal stimulus. so then you come out and trump ask what he does yesterday, which i thought was really interesting. i think that we all knew that pelosi and the democrats were not going to come to a deal before the election and i think that trump picked up on that and tried an interesting negotiating tactic, to call off everything and now all of a sudden he is putting it back on so during the interim, what was he able to do. he was able to achieve a blame status for blowing everything up and now he is back at the table already again by morning the next day so it really puts the democrats in an interesting spot to test what he had been saying all along, which is are they negotiating in good faith. >> but what happens if a deal is not done, what happens to the markets, dory? >> the market obviously has been very, very dependent and positive on the hopes of having

a stimulus package so the market won't like having a stimulus package and if we don't get one until after the election, it will be disappointing. and i think you also run the risk of not getting one after the election if trump wins, what brings the democrats to the table to get along with the president if biden wins, he doesn't take office until next year >> that is a good point. >> and so that puts a lot of pressure on the q3 earnings coming out >> yeah, you'd think that both parties would want to send out those checks ahead of the election as well, perceived as doing the most for your constituents let's talk about the financials. hugely important and yet getting not a lot of attention. the yield curve is starting to move a bit, but these stocks can't get out of their own way

etf down from 30 to 24 this year do you think the financials present any kind of a good value right now? >> absolutely. i've never seen such good value in financials in the last 35 years. having said that, it doesn't mean that there is not more down side, but i do think that it is temporary. femt fundamentally, they shouldn't be this far down and we shouldn't have another 10 to 15% hit. but we could have one because two things are keeping financial down feerp fear of credit problems and fear of low rates fear of low rates isoff blown because we hate eight years of hard data where bank margin ds i just fine. so the real question is credit and i think what the market is missing is the balance sheets that the banks have. so good banks should do very

well >> wow, never seen maybe a better value recently in the financials dory wiley, a strong endorsement, but we like it. thank you very much. >> you bet and we are just getting started. when we can back, stocks to watch including blue jeans, why shares of le levis are popping and the latest on hurricane delta setting its sights on the gulf coast, it is a monster storm. for skin that never holds you back don't settle for silver #1 for diabetic dry skin* #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin

can go your own way ♪ it's time you make the rules. so join the two million people who've switched to xfinity mobile. you can choose from the latest phones or bring your own devic, and choose the amount of data that's right for you to save even more. and you'll get 5g at no extra cost all on the most reliable network. so choose a data option that's right for you.

get 5g included. and save up to $400/yr on the network rated #1 in customer satisfaction. it's your wireless. your rules. only with xfinity mobile. welcome back blue jeans and investigations, the theme of this morning stocks to watch first up, levi, suhares up more than 11% as online sales jumped that helped offset losses either where. they expect the strong performance to continue into the holiday season assuming the outbreak does not grow worse. also microsoft revealing that the u.s. department of labor is probing its initiative to hire more black employees the agency is questioning whether that plan violates federal laws prohibiting discrimination based on race and watch out ge investors,

the company facing new scrutiny from federal regulators, it says it received a wells notice over its accounting practices ge says the s.e.c. is focusing on the company's accounting for reserves related to an insurance business it has been trying to wind done for years. but stock up 0.8%. on deck, a new warning on the ballooning debt that d.c. is heaping on our kids and why both parties are to blame sun not y oupetver d.c., but dow futures are up

welcome back dow futures are back up, up 220, reversing yesterday's losses but let's put the losses aside and get a check on the other headlines including the latest on the virus outbreak at the white house. phillip mena has that about. >> yeah, one of president trump's closest aides stephen miller revealed that he has tested positive for covid. he is now in quarantine. nbc news has confirmed at least 18 people connected to the white house have contracted the virus in recent days governor cuomo will impose new restrictions on neighborhoods where infection rights are spiking, it will shut down

schools and gyms and there will also be new capacity limits on houses of worship. many neighborhoods have large populations of orthodox jews the rules are expected to go into effect on friday. and hurricane delta is on track to make history as the 10th named storm to make landfall in a single season. it is a category 3 now it is expected to glance mexico and then make landfall in louisiana. back to you. >> you know, it is also the 25th named storm of the season, hurricane delta, that is only the second time that has happened since they began keeping records in 1851. i mean, i got to think about all of our friends and family you got family in texas and louisiana, mississippi, alabama, they he just can't get a break >> it has been unrelenting and we still have almost two months left to go in thurk season

. >> yeah, don't like these kind of records at all. best to all those folks. still to come, will the airlines be left high and dry or can congress get a last minute bailout package put in place phil lebeau will join us with the latest on the airline stimulus talks in some ways, things are kind of the same. in other ways, well... any questions? the good news is... we've learned, we can do this. turns out when we're hitting our goals, nobody cares if we're wearing pants. we just need the right tools. so our team, stays a team. so no matter what comes next we can work better do better this is going to work.

stocks dropping late yesterday after president trump said that he was calling off stimulus talks so why are futures higher? because he made new comments last night saying that they may not be off the case. from an airline bailout to $1200 checks, the president wants to get a deal done sending stock futures higher right now all of that plus a house panel calling for big changes saying that facebook, amazon and alphabet enjoying monopoly power. it is wednesday, october 7 and this is "worldwide exchange. ♪ i know this is the kinks, but

how could we not do the eddie van halen. he passed away yesterday at 65 years old, rock legend, rock icon, got to play a little van halen today. welcome back, i'm brian sullivan let's get to your money and investments as we are just about to 5:30. we saw a dramatic selloff yesterday afternoon in the final how were of trading following president trump's he rather abrupt decision to scrap stimulus talks with democrats. you can see in the chart a dramatic drop in the final hour of trading following the president's comments about that decision but then last night around 10:00 p.m. eastern, the president saying again, calling on congress to support airlines as well as the paycheck protection program and direct stimulus checks that is when you had futures pop. futures now pointing to a triple

digit gain for the dow at the open, we are up just about 200 points and that is where we begin this half hour, trying to really make sense of it all. and we have full team coverage on all of the angles on this story. ylan mui hasthe stimulus back and forth and forth and back and phil lebeau trying to figure out what will happen with the airlines as that industry desperately holds out for more hope from d.c. at times i think some rather conflicting statements we're over, we're done, until would he not >> that's right. and we got a little bit of whiplash here in d.c last night suggesting that there could be a little bit of wiggle room the president tweeted calling on the house and senate to approve $25 billion for the airline industry's payroll support program and $135 billion for the

payroll protection program for small businesses, and he promised thathe would sign those bills now. now, those are actually two issues on which there is bipartisan agreement and they were supposed to be part of any comprehensive deal pelosi however has resisted bringing them up individually because she said that the need of the country is simply too great. then a little later, the president tweeted again, this time calling for a standalone bill to send $1200 stimulus checks to our great people immediately, he went on to say are you listening nancy. on that issue, democrats have been on board. it is senate republicans who have had resistance to sending another round of direct checks either way democrats are completely off guard by the president's actions. pelosi said that president trump showed his true colors putting himself first at the expense of the country with the full complicity of the gop members of congress privately, i'm told that pelosi

has questioned the president's mental health and suggested that the medications he is taking could be impairing his thinking. even senate republicans have called on president trump not to walk away from these talks, but at this point, it is really hard to see how either side comes back to the table. babb ov back to you. >> and i know this is politically sensitive, medically sensitive as well, but i think that it is important to note the president is on some pretty strong drugs including a fairly strong steroid and what it sounds like that nancy pelosi is suggesting behind the scenes is perhaps especially the steroid treatment might be for lack of a better term i guess messing with sort of his thinking, his decision making ability i'm trying to be very gentle here >> that is exactly what she was implying she also said that this just shows how the white house has been in disarray and i think the difficulty for republicans, particularly in the senate, is

that it has not been clear exactly what the president would get behind remember, we started all this with the president pushing for a payroll tax cut. he then called for direct checks when you start adding dwrenkt che direct checks, small business help, airline help, starting to sound like a comprehensive deal. so that is the challenge that democrats and republicans are having as they try to figure out where exactly the white house stands >> but it sounds like from other comments the president has made, that he has a beef are the blue states basically saying the democrats are trying to throw in a whole bunch of pork that has nothing to do with covid to benefit the democratic held states it appears that that is -- if we could read through it i guess the all caps, that is kind of his beef >> the state and local funding has been a road block from the start. the president does not want to

send money to democrat-run blue states however, i will point out that there are republicans who are calling for more help for state and local governments and they have suggested ways to sort of get around some of the concerns that the president has, there is bipartisan support for that as well it is not something that either side has been able to get past that was something that was being discussed in the current round of negotiations until the president called them off. >> all right elon noti ylan mui, thank you very much and now let's talk about the airlines we're joined by phil lebeau. there is no industry that is watching this as closely perhaps as the airlines, they are desperate for help what do you make of the president's comments >> well, it is encouraging search if you are an airline stock investor, pre-market they

are trading higher after getting whacked 2.5% to 4.5% yesterday keep in mind that $25 billion, if it was approved in congress, would not go to the airlines per se it would ultimately be passed on to those airline employees who were furloughed. it basically locks in payroll protection so that the airlines do not furlough more than 32,000 employees. and if you broke it down by scat fwoer category of worker, largest percentage have been the flight attendants they would at that time biggest hit. in terms of individual stocks to watch, check out southwest airlines yesterday southwest said that beat have to initiate 10% pay cuts for the staff, unless the payroll protection is passed gary kelly was on squawk b"squa" talked about it and he laid out the negotiations that they face. >> what the unions will have to

reach out to each one of the union representatives and go through a negotiation process, we can furlough employees without negotiations, but if we're going to make any other changes to the contract, that has to be negotiated >> as you take a look at shares of southwest, we did hear back from the flight attendants union saying huh-uh, we are not renegotiating our contract so that is not a starter for them in terms of a potential 10% pay cut. remember, and i hear this all the time from people, they say why did the airline need $25 billion. this is not money that goes to the airlines that money which has been raised through private equity, through capital raises, that is money that they have set aside for their own liquidity this 25 bmd wou $25 billion would go for payroll protection through march of next year >> and you look at the situation

with the employees and you have laid it out, but i guess if we're going to play the other side of this, phil, and i heard you, you were on the call and you made a good point, we talk about the job losses and we talk about the dollars asked. we don't want anyone to lose their jobs but the amount of money that they are asking for seems to well outstrip even decades worth of salaries. what is the money for? >> well, it locks in the payroll and it also locks in service to smaller markets. basically it is an extension of what the airlines agreed to when they first got the first payroll protection back in march of this last year that went through the end of september and that is essentially what it goes for now, all $25 billion -- or $50 billion that initially set aside for the airlines, was all of that used? no will all of this $25 billion be

used maybe. maybe not. but it does guarantee the jobs of those employees who have already been furloughed. and those furloughs started last thursday and you are talking about more than 32,000. and by the way, we may see more furloughs as the airline industry wrestles with depressed do he hand demand. >> and we don't want anyone to lose their jobs. 32,000 divided by $25 billion is 800,000 per person >> that is notthe way it works that is not the way it works >> it is called division so tell me how division works. >> it is not like the $25 billion will all be spent. it may be that only $18 billion is spent but it does guarantee and lock it in. >> okay. and so many there is some money left over for other uses or they give it back that is why i was confused

it is 5:30 in the morning, no one likes to do division, but thank you for clearing it up let's talk debt now. another kind of debt sorry, i know it is early, doing a lot of math, but we have to because federal debt not only going to hit a record eye high in terms of dollar, but you these are not the kind of records that you want to hit and if you want to blame the other guy, don't and there i is new research on h country's ballooning debt which was laid out in a recent "washington post" op-ed. the debt is huge because trump kept his promises. i loved your op-ed piece, you've done some of the digging and that is why we try to play it straight down the middle the reality is, no matter who is

in the white house come next january, both parties' proposals will continue to balloon federal debt to well over 100% of gchdps >> they sure are and there is not even a suggestion from any of the campaigns at this point of what they would actually do to get the debt under control and let me anchor the discussion because in the op-ed, we look back at what happened over the last presidential term, the debt isn't the urgent issue of the moment what happened is we had a very strong economy and yet the congress passed and the president signed in to law really about $4 trillion inrowi have been bringing do you knwn e debt so we were reckless and that means that we enter this moment of a huge crisis that we couldn't have expected would look like this, but we could have expected something would

come along and we were already over undebted just when we needed to beborrowing a lot. so no way saying that we should stop borrowing now we actually need to put more money into the economy but once we get through this, whoever the next president is inheriting a situation where they first have to deal with an economic crisis and then quickly have to pivot and deal with a huge national debt challenge because that debt will be growing faster than the economy every single year and it will be squeezing out other parts of the budget when both candidates have a whole lot of plans of things that they want to to ado and not nearly as much detail of how they would offset the cost both are talking about adding trillions more to the national debt >> and these are not your grandfather's trillions. he borrowed at 10% and now borrowing at 0.7%. low rates likely have to play a

role in this the numbers are a lot more manageab manageable >> and all the reasons that we used to worry about debt is that it would put interest rates up that clearly has not happened and it is unlikely that interest rates will go up anytime soon. they will probably be quite low artificially in some way so that almost enables more bore he rowing. but i think a lot of times people confuse low interest rates with meaning that paying for things is free all my friends are buying pelotons because there is zero financing, you don't pay for a while, but you still have to pay for the cost of that so if we're talking about a $2 trillion infrastructure bill or another trillion dollars in health care, just because the time value of money is such that it doesn't mean that you have to pay a lot of is additional costs for borrowing for that, you still have pay the actual ticket for the item either we finance that by cutting spending, raising taxes, or borrowing from our kids and i know that isoff simplis r

oversimplifying, but like you said, early in the morning if we do that, we'll push the choices in to the future and that is not know economic reasons, it is what you said, it is for political reasons that neither party is interested in doing the really hard work of how would you pay for something, what would you have less of or who would pay more in taxes. so in the end, we finance it and that is why we have a near record level debt that is likely to exceed 100% of the economy next yee next year and this is at a time where we have a lot of competition with other countries and challenges domestically and you didn't want to go on't wante moments overextended >> i remember something along the lines of you get elected by promising to give people stuff, not take stuff away. there you go

appreciate it, urge everybody to read your op-ed. thank you very much. >> thank you coming up, we have got an exclusive interview with the ceo of bemo capital markets, he is seeing opportunity in a part of the market that we didn't talk about a lot. but we will. and as we head to break, house judiciary sub committee releasing a long a watsd report after a 16 month probe into apple, amazon, facebook and google the panel argues that the companies enjoy monday monopoly power. and apple is expected to reveal their new iphones. and macy's a joining forces with

doordash and tesla reportedly caught a worker engaging in what it calls malicious sabotage at its fremont factory. the person in question was terminated a little tesla intrigue.

welcome back certainly the metals have been hot for a while. and that means a lot of focus has been on the silver and gold trade. but what could be happening? dan barkley is joining us now, their parent company celebrating their 200th company. we appreciate it, dan. you know, we always talk about your country canada, we talk about oil for the most part, but let's talk about mining because the metals have been pretty hot and i read something the other day that said if electric cars take off, we will need more copper in the next 25 years than in the previous 200 years combined are you seeing a lot of opportunity in the metals? >> i think that is a great way to open the conversation in terms of us looking at the

impact of mining and mining's understanding in the markets today, the change we're seeing, whether in technology, whether in electric cars, will drive enormous demand from where we are today. there is a big transition that will happen as we move toward that and i think the general investing market has seen the story for a while, but is looking for a little more near term outcomes. but we're big believers in that long term growth story for mining and how essential it is for the future of our global economy. >> and for all the talk about electric cars and climate change, the unfortunate reality, you have to put a lot of big shovels in the ground to put up a lot of the stuff, whether lithium, nickle or cobalt, that makes all the new technologies work is that going to be a mone to ce >> i think it is going to be a money maker. like all commodities, it is a supply and demand story. we just talked about what the

demand side looks like supply side has also something put constraints on where that supply is and where it comes from so that increase in demand makes a great story in metals. >> and where else is bmo finding opportunity? i know energy is not the focus, but oil up 40 bucks, we know that lot of american plowers won't be able to survive there will be a lot more bankruptcies if we hang out at 40 picks barrel here. is the story similar in canada >> i think the energy stories in north america are very similar we know about the demand side. you talked about airlines and travel on the supply side, some constraints. i think most of the industry is moving to a sustainability

preac approach, how to move to high growth and that change in strategy is what is driving, you know, a n attenuating production or supply we used to think about it as supply/demand, valuation of the sector, and now i think sentiment is another key factor. obviously the dynamic of the industry, trading at its lowest multiples in decades around the business even around fundamentals and that is the empakts around esg i think that is misplaced in a lot of places. this is still a great industry we believe in the word and and there is a need for energy and we need to also transition to carbon economy. and so we make our investments in those companies investing in the transition and i think that over time we'll see the marketplace catch up to that change in sentiment.

we believe it will turn with better fundamentals. >> and if everyone wants to have air conditioning down there in phoenix our wants r wants theire apps, we'll need all kinds of energy and bmo, 200th anniversary, dan, appreciate it very much. have a great day global markets swinging pretty wildly. we sold off yesterday afternoon, now stock futures up 163 we'll try to make sense of it all with citigroup next.

the stimulus stalemate in congress hanging over millions of american families, and small businesses, but the markets are brushing it off this morning as the president comes out last

night and suggests that maybe the negotiations aren't done joining us now is steven whiting, global chief investment strategist at citi private banking. you and your clients are long term thinkers. stimulus headlines move the markets on a day to day basis. how do we see past this fight? >> how the election unfolds and who runs the government will be important to industry composition which companies can do what in the future. these sorts of things. i think the stimulus itself in terms of the timing, it won't matter to long term returns. i think that we should also remember if we care to think about what is going on in the markets, not negotiating is itself a tactic. i think that we have to look at the post-election result, we have to see who has the stronger hand, ultimately if there is a very strong hand for democrats

and they make more sense for a larger stimulus post-election, bi-in the past, we've always found some ghon common denominar the next couple months as koefd is being covid is accelerating again, did he despite the fact that the economy has done remarkably well, this will be a volatile time >> and you know what is amazing, i know you are not a tech policy analyst, but you have got members in congress suggesting that some of the big technology companies may need to be broken up aunity under antitrust laws and that should have -- these are 40% of the entire equity markets that congress is suggesting that may need to be broken up and we're focused on stimulus to me the big headline is what should move the market long term, but maybe i'm just crazy

>> i think that this is a reasonable risk for investors in u.s. stocks to focus in on when you have one company in apple that was worth at its peak more than the entire russell 2000, more than the entire united kingdom equity market and you look at the stocks in the u.s. market up at 45% of the total market, you might have some concentration risks again, fundamentally, we think that they are doing well and they will do well during the next couple quarters when we're covid-bound, the way that we are adapting to this particular shock. and in fact whatever legislation they face, i don't think that their businesses suddenly go away but this is a concentration risk and we have to think about other areas of the market which didn't do so well over the covid period >> and very quickly, 20 seconds in the show, like wherat, whereo we focus >> think about beaten down real

estate, people if they will work from home, they will need homes in some cases. so these are the sorts of things think about latin america and asia, think about europe, think about being broader than just u.s. equities. >> good stuff. steven, that is why we have you on thank you very much and that does it for us "squawk box" is next dow futures up nearly 200. see you tomorrow

good morning stimulus whiplash, markets fell yesterday, reversing course after president trump called off talks, but futures rallied last night after he tweeted that congress should send him a piecemeal solution we'll take you live to washington and airline stocks on a round

trip recouping much of yesterday's losses and plus big tech bombshell, a house panel calls for the breakup of some mega cap technology names including apple, amazon, facebook and goog google it is wednesday, october 7, and "squawk box" begins right now. >> good morning, welcome to "squawk box. i'm becky quick along with joe kernen and andrew ross sorkin. stocks were down during yesterday's session after president trump tweeted that he had instructed white house