the white house to wait until after the election to make a deal with democrats on covid relief. it could be months before disneyland and other major theme parks can reopen in californiana now you know now you know the news. for this, well, tuesday, october 20th have a great night it is 5:00 a.m and here is your top five at 5:00 going for two. stock futures giving up early gains as d.c. signals growing optimism around a possible taxpayer funded stimulus slowing to a crawl, trouble for netflix after a rough quarter has that stock sinking pre-market but surging ahead, snapchat on fire after blowing away estimates. going big, going green, going expensive. general motors unveiling it all

new and all electric hummer to the world, but you got to hear the price tag. and it is once again time for you to speak out, this time on the election. and which matters more to your money? the white house or the senate? it is wednesday, october 21, and this is "worldwide exchange" on cn cnbc ♪ welcome from wherever in the world you may be watching. happy wednesday. i'm brian sullivan here is how your money in the global markets are setting up. stock futures are down, dow and s&p trying to post back to back days of gains, but dow futuresf about 100, nasdaq iabout 70

mtum is the cute ticker, coming off its fifth straight down day. its longest losing streak since late february. that etf tracks names like te a tesla, apple, microsoft and more, all the names that really control the entire market. same story with the faang stocks first trust dow jones, the fdn, also seeing 2350five down days row now, first time that has happened since february. so you have to watch tech, some of the big name etfs look like they may be starting to roll over we'll see what happens today you have to watch treasuries as well, ten year higt itting its

highest level since june 10th. and one stop ck of the day has o be netflix, the company missing on the bottom line and adding just 2.2 million subscribers around the world in its most recent quarter the estimates there on average, 3.3 million sub gains. the company's own estimates for ads in the fourth quarter also falling short of estimates, nearly half the paid subscriber addictions in the past three months came from outside the u.s. the stock down almost 5.5% to $497 around the world, mostly higher session overnight in asia. the european markets of course just getting started let's get it sent out to geoff cutmore in locndon >> yeah, very good morning to you. it has been disappointing. you can see that we are firmly down now and the selling seems

to have accelerated over the last 30 minutes or so. it is not that we've had bad earnings over in this part of the world. let me tell but some individual stories. erickson has reported a rise in third quarter core profit to 9 billion swedish crowns that beat estimates thanks to a strong demand iffor 5g contracts managing to hang on to the big gains here, we were with up over 7%, but as you can see, we're still very much in positive territory on erickson stock here french media group saw sales rise above market expectations, the music division out performing with a 6% rise in revenues i don't know if you are a lady gaga fan, but she is on the universal music group and has helped the performance the stock up nearly 2% and nestle has raised its full

year guidance after posting better than expected sales growth in the third quarter. organic growth coming in at just under 5% in the third quarter. a sharp rise from the 1.3% performance in the previous three months and the market is just whistlin by that number we're down about 0.5% on nestle even as they have benefited from the uptick in lockdown spending. back to you. >> i'm not going to say if i'm a lady gaga fan, but i may or may not have openly sobbed during "a star is born" multiple times i'll just leave it there >> gets you, always gets you >> it really does. why? the end? i don't understand it. geoff cutmore, thank you very much back home, negotiators on

capitol hill significaaling new optimism around a stimulus deal. rahel solomon may or are ma mayt have cried at that movie >> i haven't seen it, but i have been to a lady gaga concert. to the news now, nancy pelosi says that she is optimistic that democrats may be able to reach a deal with the white house on a new covid-19 relief package and get the aid out by early next month, telling reporters that she may be able to hammer out a plan with steven mnuchin by the end of this week adding that they have come a long way on health provisions, but more work needs to be done to address state and local aid. amazon says that it will allow employees who can work for home to do so through june 2021. the company following in the foot steps of several other big tech companies that have extended their work from home

policies until at least early next year. and remember twitter has allowed employees to work from home, quote, forever if they wish. but don't you do that, brian and alphabet urging employees to keep their heads down during the antitrust lawsuit against the company. according to emails seen by cnbc, the top lawyers telling staffers while we can expect tough criticism and even misleading claims about our work, it is important not to get distracted by this process going on to say i've had googlers ask me how they can help and my answer is simple, keep doing what you are doing. >> there has been are more he companies saying work from home maybe forever, but i can't see it most of work is human relationships, hard to make the relationships over zoom. you can maintain relationships, but there is nothing like, i don't know, having a coffee in the office especially for young people trying to advance, getting noticed. >> that's a fair point

i feel like that is a harder point to makes a people prove their productive at home you've never been more productive, and you have been home for months. >> dropped 40 pounds, not wearing shoes right now, you never know what could happen >> must be nice. >> one of these days, i'm going to buy you another tub of tater tots because we all know what we're talking about. rahme rahel, thank you another big batch of big name earnings today on tap with less than two weeks now until election day joining us now, greg hawn, president and cio of winthrop capital management you're a longer term guy, but we're short time on the fly thinkers here. what are you expecting for the next couple of weeks, does election out of the pandemic could be making things

interesting, yes or no >> yes, there are two fundamental truths one is we're closer to an election and a result and the second is that we're closer to the end of this pandemic than we were at the beginning. and we think that we do have some way to control the virus next year early in the year and that will allow the economy to reopen and that will change the dynamics so that rollover from technology, that will happen next year. >> well, i hope so because the number one trending story or one of them on cnbc.com right now is the uk's chief scientist tell g lawmakers there that covid will become the annual flu that we'll have to live with for years to come that changes everything if he is right, but either way, let's move on from that because you're right, at some point we'll get through this did you adjust your investing strategy or portfolio at all given those things that you just mentioned? >> yeah, we're adjusting it in a couple ays

one is a long side of a large cap index, we use equally weighted s&p 500 indexed so we get the same weighting of a boeing or american airlines as we do google or facebook that is a way to play the recovery the second thing we're doing, we're increasing our small cap good possession su exposure once the economy starts to move forward, and there is a trillion dollars of the economy that is shut off right now, once that starts to get turned back on, small caps should benefit strongly >> and they have been. the russell 2000 is not quite at its highs of the year, but i think it is up 7% or 8% this month. the best performing index. is this although sort of a stimulus domestic recovery type story? >> big time. this is the big driver regardless of what happens in the election, it is all about stimulus so the economy needs additional support, we have a trillion

dollars of the economy that is shut down which is that hospitality, airlines, traveling, gaming, entertainment type of industry once that gets -- we can figure a way to turn that back on and it students all the ancillary businesses like the restaurants and everything around it, we'll start to see more growth, more traction >> do you think the big tech trade is kaput >> no, it is not kaput the problem is that when you take the big tech out of the s&p 500, the dichotomy of the performance is significant so the real challenge is when do you start to look at reits like simon property malls and retailing. we think the time is now >> it is now so you think that -- because there is a lot of people talking about worse outcomes for the reits, without naming names, i've heard some people, you know, suggesting harder times and that is all i'll say >> 60% of all sales right now

are still done flthrough brick n mortar so it is not going away. you look at high quality properties, they should pull through. they are strongly capitalized good sponsors. and the interesting thing about simon, it is changing its business model look who just bought brooks brothers >> maybe own your own store so you don't have to worry about them going away. so maybe now is the time on reits, small caps looking strong, greg, appreciate you coming on. always strong to be on at 5:10 in the morning >> thank you and lady gaga. >> listen, don't judge me. when we come back, a beneficiary of what its ceo calls the isolation renovation the stay-at-home stock that is surging. who is yonder mystery chart? we'll reveal it. snapchat getting a bump kids at

home on social media all day, it is working out for snapchat, 23% bump for snap. who needs learning and later on, how a billionaire fight against higher taxes seems to be gaining momentum in at least one battle ground state mr. robert frank, 62 percenter himself is here to explain 5g just got real.

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roombas, virtual lenses and those are just some of the stories around your stocks to watch. ra more. >> long timet reporting a huge n earnings the ceo pout company saw stronger than expected order growth. the stock down about 3.5%, but still up about 83% year to date. wd 40 also reporting a big beat thanks to strong demand for its cleaning products, ceo gary ridge citing isolation renovation, reportin,

the more time at home, the more time and money they spend on home improvements. and shares of snap are soaring after a adjusted profit repor d reported so snap says it had 249 million active daily users and that advertisers are boosting spending on the platform and that is something that we've seen in some of the analyst notes across social media companies. back to you. >> look at the usage there, snapchat up 23% pre-market, that is a big pop when you are at home, dad's working on squeaky door, teens are on snapchat. on deck, going big, going green, going expensive gm launching the all-new electric hummer. it is awesome. it is fast but it is expensive. wait until you hear the price tag coming up.

today's big number $6.9 billion that is the estimated cost the pandemic shutdown and the california wildfires will have on the nearly 10,000 wineries in the u.s. according to research firm bw 166. ter a new and exciting chapter. across muti-cloud, apps, data and security, we focus on solving the business problems of our customers with technology we are a type of company the market has not seen before. going public will further invigorate our mission to embrace technology, empower customers, and deliver the future.

let's get a check of some of the other top headlines outside of the world of money and business including a big new development in the breonna taylor case phillip mena is here with that and more >> yeah, stunning development in the breonna taylor case. an anonymous grand juror is allowed to reveal what happened behind closed doors after a rare judge's ruling saying that jury members were never asked to consider homicide charges. the former emt was shot and killed in her apartment in march during a botched drug raise. no officers were charged in her death, but one was one tchargedh wanton endangerment. and that taylor's boyfriend shot at them first. taylor's family is calling for another grand jury and president trump is

facing a serious cash crunch his re-election campaign has just over $63 million left in the coffer, nearly three times less than the biden team who is sitting on a $177 million war chest. the president istrying to make up lost ground with a flurry of rallies and interviews and a bank in california had some masked bandits break in, two young raccoons made their way in to the bank when it was closed the local humane society said they changed them around for about ten minutes before they could shoo them out of the becoming >> such a clean building, too. you see the building, i don't know what they were -- no trash, what were they looking for maybe they were looking for some coin never know what they have to spend their money on >> or they were a decoy and homies were in the back looting the dumpster >> evil genius, i like it. phillip, thank you

still ahead, are we close to peak netflix shares are down as new member growth slows and tis teit is tesla's tur. and model s registrations in america, more than any other electric car combined. ♪ you can go your own way

♪ go your own way

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boost amid increasing hopes washington can reach a deal. futures are flat nancy pelosi saying she is optimistic over the ongoing negotiations with the white house, we'll take you to the capital of money, d.c. and shares of netflix are sinking as new subscribers slow down bigly it is wednesday, october 21, and this is "worldwide exchange" on cnbc ♪ i'm on the edge of glory and i'm hanging on to the moment of truth, i'm on the edge of glory and i'm hanging on to a moment with you ♪ i open up at the top of the show, and i admit i cried at the movie "a star is born" and now they are playing gaga. if you're going to do it, at least play songs from the movie. i miss brad cooper welcome back, how is how your

money and investments look right now as we are about halfway through this wednesday's show. we'll call stock futures nature. the dow and s&p trying to post back to back days of gains the nasdaq and nasdaq 100 coming off their first winning session in five. here is the only question that really matters to you from a longer term investing perspective, is the tech trade starting to roll over at all for a medium or long term. the ishares mtum coming off its fifth straight down day, that is its longest losing streak since pre-pandemic back in february. that etf tracks things like tesla, amazon, invidia and more. same story with faang. the fdn also he sseeing five don days in a row for the first time

also since february. you've got the usual name of big hitters including facebook, pay accou paypal, salesforce and netflix, so just a couple names to watch to maybe know if that tech trade which has worked for a decade may be finally starting to roll over and other sectors benefiting bonds also something to watch because ten year yield hitting its highest level since june 10th might see a slight uptick in mortgages. and one stock on everybody and he radar, everybody will be talking about snapchat shares are up 23% in the pre-market they topped eps estimates for the most recent quarter opposing a sur yprise adjusted profit. why learn remotely when you can be on social media company says growth is likely to

grow forecasting 257 million daily active users in the fourth quarter topping estimates. to washington and the latest in the push for a deal on stimulus house speaker nancy pelosi says she is optimistic she can reach an agreement with the trump administration suggesting she is hoping to make some progress on the package by the end of this week but the white house is saying big differences still remain on both sides so where exactly do we stand ylan mui knows and she is standing by with the latest. and mr. robert frank 62 percenter position looking at the political battle brewing in one state with a plan to tax the rich ylan, let's start with you >> what we thought was a deadline for a deal yesterday has now come and gone with no deal, but the white house and

democrats are still talking after a 45 minute conversation with the treasury secretary yesterday. nancy pelosi says they are moving closer and they will talk again today. she said that the deadline enabled them to see that decisions could be reached and language could be exchanged g n demonstrating that both sides are serious about finding compromise but republicans in the senate are not so sure about that >> if it is just going to be a bunch of giveaway like we saw in the house bill where i think cannabis was listed more than job, i'm not going to be for that >> if the white house and democrats do strike a deal, mitch mcconnell has said that he would bring that to the floor if a vote, but he didn't say when before or after the election as for the president, he reiterated that he is willing to spend more than even the democrats are asking for and that he would take support for a deal anywhere he can find it no

matter what side of the aisle it comes from brian. >> okay. are there enough republican -- i know it sounds ridiculous, but we've heard some waiver, right they don't want more debt. are there enough republicans to get it done in the senate even if one or two flip >> yeah, it is not clear that there are. the whip count hasn't actually started because there is no deal to whip just yet but the sort of signaling that we've heard so far from senate gop is that it will be tough for them to get the 13 republican votes they would need in order to actually pass this even if there is a deal. and frankly, republicans just don't want to be put in that, t to vote for a package that will either be a higher number than they are willing to go or perhaps details of this deal that they are unhappy with they don't want to swallow that this close to the election >> ylan mui, thank you very much now to the political fight

taking shape in illinois where your local billion their waging a multimillion-dollar fight to keep taxes on the state's top earners from rising. good luck on that. by the way, i had so many friends text me or whatever your 62 percent story and they are all poking around homes in florida right now. just want to throw that out there. >> yeah, big numbers there if you look at nationally, most americans actually support higher taxes on the wealthy. but in illinois, a proposed tax now faces an uphill battle in part due to a campaign by local billionaires illinois voters will vote on a ballot measure to replace the state's current flat tax with a graduated tax that would allow higher taxes on the highest earners. the state's billionaire governor pritzker is spending $63 million of his own money to support the change on the other side, you have

hedge fund billionaire ken griffin spending $20 million to help defeat the measure. he joins real estate investor sam zell and david mac neil who are also opposing it the measure has about 55% apbroofa approv approval, but shy of the 60% they need for it to pass they just don't trust politicians with the added revenue that it would raise. pritzker's group you ssaying opponents who don't want to pay their fair share has allowed them to get their message out. so a big battle, big money, battle of the billionaires over raising taxes on those who make more than $250,000 a year in illinois we'll see where this goes. but right now, surprisingly in

this environment, it does not seem to have the votes that they would need >> listen, first off, chicago is a spectacular city okay my wife was born and raised there, it is an awesome place but it has its problems too. and i think if illinois had other stuff going for it, maybe we wouldn't have these conversations. aside from that, what are some of the other arguments that, if any, might be working against this tax hike? >> well, there are two that seem to be resonating with voters the first is that you can't trust springfield. you know, we all know the histories of politicians in illinois that have been arrested or charged and so they are using that as sort of a referendum on the government the other issue they are saying is look, they will start by taxing the very wealthy, but this will creep done to everyday earners. so they said that retiree income could be at risk here, when

really what they are proposing is taxing only the top 3% of illinoisans. what opponents are saying, that is where they will start, but it will eventually get to you and we're seeing some of the same argument on the national stage where the trump administration and that campaign is saying biden says it will only be $400,000 or more, but it will creep down to everyone else >> i'll put you on the spot. critics make the point that it is not like if i'm taxed an extra dollar, it will go to somebody who really needs it it is that much of it just gets lost in the government, administration, ight do we know how much of every incremental dollar actually makes it down to the people and organizations that need it or does it just get lost in the government, if you will. you know what i'm talking about. >> absolutely. i think more of the wealthy, and they say this, mark cuban, people like that, say i would be willing to pay more they say if i knew that that money would

efficiently go to where it is needed most. and a lot of the opposition against higher taxes by the wealthy is not that they can't afford it or they don't want to, but that it is wasted, they would rather solve those problems through philanthropy rather than through government which to your point is very inefficient. so i don't know dollar per dollar, but that is the strong argument >> why not sort of have forced charitable giving instead of a tax. you have to give away a certain amounts of money, you can pick where that goes to certain organizations that have been vetted by the government so you know it is going to good causes, but it is being run through maybe a more efficient vehicle. i don't know probably a crazy idea. good stuff, buddy. thank you very much. back to earnings and a huge stock to watch this morning. that is netflix. netflix down a little bit, about 5 brs in t 5% in the pre-market also, third straight about the

li bottom line miss 2.2 million subscriber, falling short of estimates company skektsiexpecting year or declines to begin in 2012 as well after a major stay-at-home boost earlier this year. joining us now is joel calinna what do you make of netflix's quarter and guidance >> good morning. thanks for having me obviously here is a company, a victim of its own success. we know they crushed it in the first half of the year and fair enough to reed haigsing ihastind been warning about this that demand would fall off and ads would fall off but end of the day with the bulls really hyping the story up into the print, it is the weak heest sub gain in four years and clearly they are being negatively impacted by

government restrictions, return of live sports and to a lesser degree increased streaming competition. >> how much of this might be that you can't make a new show let's be clear everybody is binge watching everything you run out of stuff to watch even on netflix. but are they able to make new -- you see what i'm saying? are they going to run out of product that keeps people around >> they were pretty upbeat as far as their production update and i think that they are also taking a more realistic approach we've seen it across hollywood batman has beena bigjurassic pa. we've seen delays. so something to keep an eye on i have two young kids and there is a ton of content on netflix anyone who says they have gone through netflix either has to find another hobby or is just lying. there is a ton there but i think the problem with the

netflix story, it is still one of the best companies on planet earth, they will continue to benefit from secular trends, but there is a lack of catalyst heading in to 2021 the release schedule will be lighter than normal and then what do we have to look forward to in the next 6 to 12 months because of the production delays you highlighted. and i think that there is probably other opportunities in the market and i think that is what will create problems in the stock in the near term is just lack of material kind of catalyst and then on top of it, really just kind of hopefully our lives returning to more of a normal environment and thankfully it seems like the vaccine headlines will continue to be more emerging, which dente trade. >> uk top scientists telling parliament that covid will probably become the annual flu that we'll have to live with so aside from the stories on

cnbc.com right now by the way. that aside, nobody doubts net flinks netflix a great company, but they don't always make great stocks has netflix's stock time passed? >> i think in the near term yes. here is a stock that really consolidated nicely on its 100 day back during kind of the september tech rally so that is the level i'm really watching high gut is it doesn't hold. everybody is talking up rotation and whether tech growth, the glory days of easy money has been made. andthe answer is probably yes with the home that the world turns to a more normal environment. i think the large cap growth trade will take a back seat to some sexier things out there >> let's talk tesla. i know a lot of read magazines i

was reading car and driver yesterday, and they had an info graphic that showed that tesla has more model 3 registrations than any other electric car by every other country combined the stock is up more than 400% this year. how much more momentum does tesla have given those pretty heady stats? >> yeah, again, in terms of ev technology, they are so far ahead of the game, it is not even close there is also a lot of big boys trying to play catchup but similar to netflix, it is a show me story. like there are a lot of questions about the quality much earnings of tesla. obviously they kind of count on the sale of regulatory credits i think that they are expecting to sell about 1.2 billion of

those in 2020 alone. so investors especially, they want to know that the company can be profitable in their core business and that is making and selling cars and that remains a little bit of a wild card with elon musk at times as they have struggled to hit their targets but again stock up 400% year to date, up over 700% year over year i think that it is becoming a bit of a hshow me story for thos reasons. we saw similar price action back in 2013. i think the stock was up by 360% that year and then the stock gained, but gains were a lot more limited in nature so that is where i think we are in the tesla story right now no reason to buy it today. and i thinks credits will kind of weigh on the growth investors in the near term >> joe, really appreciate it fascinating stuff. appreciate it. coming up, we always give you more on wex and we'll have

more stocks to watch including another major merger in the hard hit oil patch. this one a family affair and jpmorgan chase taking on fintech firms like square, announcing its new quick accept service allowing card payments that let users see their sales with no fees and eli lilly has hired an outsizeded a advi ed ed ed ed w its plant in new jersey. this is after the dough received notices from the fda over issues at the facility and had not received a warning letter. and disney is criticizing california over the new virus guidelines around reopening its disneyland resort and other theme parks. the president saying rules prohibiting the reopenings until

cases drop will keep them foseblred for the reeae future ♪

♪ ♪ ♪ (clapping) ♪

hey, you alright? ♪ find the nonpartisan facts behind the real stories at usafacts.org ♪ . welcome back let's get a check on some of the other stocks to watch including texas instruments, reporting its first quarterly revenue growth in nearly two years. ti also seeing a rebound in demand for the automotive market amc plans to sell up to 15 million shares to raise cash,

but the chain warns that it still may not have enough liquidity to help to avoid a restructuring of its debt. and pioneer natural resources is buying parsley energy for 4.5 billion in stock. the ceo of pioneer is the father of parsley energy founder and executive chairman brian sheffield, a family affair a new cyber truck competitor and good news out of one pay per view soccer match. arerahel solomon is back with te and other stories we'll be talking about. time for our trending segment. what is trending >> the hummer is back, but this time it is electric. gm officially unveiling its hummer ev, it will be available in late 2021 for $112,000 roughly, compared to tesla's cyber truck which starts at $40,000. and gm president mark reuss will

have more coming up on "squawk box. and a holiday tradition is taking a streaming twist it is the great pumpkin charlie brown will not be airing on a network this year, for the first time since 1966. that special and two others including a charlie brown christmas will be airing on apple tv plus instead. definitely 2020. and here is a heartwarming story after one of their premier league matches was only being shown on pay per view, frustrated new castle yunited fans urged fans to donate to the local food bank instead, and they ended up donating $25,000 and counting so good sportsmanship. >> pay per view is too expensive, we'll boycott and by the way use the money we're saving, pool it and give it to people that maybe have food insecurity, don't have enough to eat, whatever. that is a good news story. and we need it on a wednesday.

rahel solomon, thank you >> need it every day, but yes. and on deck, rbi the most r random but interesting thing and what election is the most important for your money the race for the white house or the fight over the senate? surprising results from your poll 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

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welcome back on the show yesterday, we discussed with a guest how the fight for the senate may be the most important election to the markets and your money some of you probably scoffed at that so we threw out a poll on twitter and linkedin, and the ruts were cleresults were clear degreed. 71% of you saying the senate battle is going to be the more important race to watch this fall because remember, if the white house goes to biden but

the senate stays red, some of these tax increases robert frank has talked about and other huge spending measures may not pass if both the white house and the senate go blue, a lot more things can get pushed through. so the senate bracrace may be t more impactful again for the markets and the economy only, but search the sena the senate races, not getting the attention they deserve random and hopefully interesting. sticking with the 2020 election, your next guest says if the democrats manage to take both white house and the senate, stocks may respond positively at least the short to medium turn she is ceo at gillman hill jenny, i assume you mean if biden wins and of course blut wave or blue sweep, whatever you want to call it, there will be

so much stimulus passed, going to make $2 trillion look tiny, that the effect will be to jack the stock market for a year or more >> i think that's right. and terhetoric, but kind of true too, the stock market looks out 6 to 9 months out. and in a dem sweep, we can see what is likely to happen, which is huge stimulus plan, easy fed, that is the short term that is what the market will be digesting in 6 to 9 months the longer term, that is dicier. longer term, it is probably high regulation, higher taxes, less business friendly, but that is 12 to 18 months out and i don't think that is where the market is looking right now so short term, i think it is pretty favorable >> yeah, goldman sachs by the way, they put out a note kind of suggesting the same thing. one of the morgans or maybe both kind of have the similar thinking because we talk about tax hikes, but even if investors

are worried about tax hikes, those would take probably two to three years to not only pass into law even with a blue sweep, but to enact so that is kind of the thinking, right? >> well, i don't know that it would actually take two two to three years to pass tax hikes. a political strategist said that actually the tax hikes would have to come in the first year of the presidency under a democratic sweep because that is when they notice they have t know they have the most power. and second year they will start to look at midterm elections and they could actually lose the senate again and then after that, who those depending on which the senate goes after mid term elections. but if they have just one year, it is not going to be wild tax overhauls, it is just be like the low hanging fruit. so maybe the carry trade would be impacted, maybe the capital gains wouldn't we think corporate tax rates would go up. not sure what would happen on

the individual levels. so i think that there would be immediate tax increases, but i'm not sure how severe long term they would be in that first year >> i want to go through a couple stock names. we'll play a game, since other shows have a bull chart, so we'll call this would you rather would you rather own -- >> i'm so ready. >> only because i love "fast money" and the whole team there. i'll steal their ideas goldman sachs or paypal? >> goldman all day do you want my reason or just going down the list? >> give me a quick reason. blast it out >> relative valuation. and it is interesting too because you saw in a jpmorgan headline this morning saying that they are starting it to compete with square and paypal paypal is valued at 345 ti45 tis

earnings goldman is 8 times earnings. goldman as you can see, expectations are for nothing testimony it will be easy for goldman to beat >> disney or netflix in. >> disney all day. same kind of relative valuation argument netflix, you've got a 60 to 70 times earnings expectation you've got huge expect tags exp they added 2, thought they would add 3. and victim of its own success and the law of large numbers is catching up with some of the big high flyers. >> let's end on a hard one gm and its electric hummer or tesla. >> well, again, i'll go with gm all day long i you will itly made a twiactua with jim cramer on this, i don't

think he knows, i bet him on an ice cream cone but i'm winning on the tesla versus gm bet that is pure valuation too tesla trading at like 500 times or 1,000 times you have gm dirt cheap if you look out to future earnings, they are not that far off. i meant earnings growth. >> i like it we're lifting the other 5:00 p.m. he shows ideas. shout out to them. thanks for being on the show and that does it for us on a busy wednesday futures are flat "squawk box" and the gang ckg erhi unext ♪ you can go your own way

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good morning well, odds of a stimulus deal

before the election are looking kind of slim we'll take you to washington for the latest comments from senate republicans throwing cold water on the talks netflix slumping after the company's earnings and subscriber numbers disappointed the street full rundown is straight ahead and a challenge to fintech companies, jpmorgan launching a new payment system for small businesses we'll show you how competing stocks are reacting. just are got a little less hip to be square it is wednesday, october 21, 2020 squawk "squawk box" begins righ. ♪ ♪ its hip to be square, it's hi to be square ♪ >> good morning, everybody i'm becky quick along with