european country to pass 1 million covid cases can as a second wave grips the continent, and breaking in the last hour, the fbi reports that iran was meddling in our election trying to intimidate voters along with russia. and now you know the news. have a great n it is 5:00 a.m. at cnbc, 2:00 a.m. in hollywood and here is your top five at 5:00 futures, uncertainty around stimulus and the election starting to grow u.s. intelligence agents out with a new warning over apparent election interference. iran apparently sending mass emails to voters trying to scare them away from voting for trump. tesla all revved up after crushing earnings expectations, but can the stock get back to its recent highs why are there so many oil mergers lately our conversation with chevron's

cfo about why all the m&a is going on and how billionsof dollars vanished in hollywood as the screening giant shuts down completely it is thursday, october 22, and this is "worldwide exchange." i think video killed the video star, answer that the -- anyway, welcome from wherever in the world you may be watching. thank you for joining us we'll get to that squibby story in a few minutes but right now here is how the global markets are setting up their day. stock market, we'll call them done to maybe flat nasdaq a little bit in the green, all this after stocks

closed down yesterday, dow slipping 100 investors holding out hope for a stimulus deal and also starting to worry more about the election more on that in a few minutes. major indexes all on pace to snap their multiweek win streaks. nasdaq down slightly more. and today we'll get jobless claims number out at 8:30 as they always are on a thursday. for the first time applications may be coming in at 875,000 like they did in the latest week. last week's report showing the highest level of claims since late august. and one stock that you will hear a lot about today, and that is tesla. the company reporting its fifth consecutive quarter of profits with its third quarter results yesterday. the company topping eps and revenue forecasts. the stock up 5%. we'll dive into more of the tesla results a bit later on

the stock at 445 and change right now. let's go around the world. shares in asia closing mostly lower after the international monetary fund down graded its growth forecast for the region the hang seng able to eek out a fractional gain. and looking at early trade in europe, not down too much, ftse 100 down 0.3%. right now let's get to the news that is moving markets as of late and that is the fight over another round of taxpayer funded relief as now nancy pelosi suggests a deal may not happen before the election. seema mody is here with more on that and some of your other top stories. >> good morning. let's start in washington where nancy pelosi and treasury secretary steve mnuchin are set to resume talks later today. pelosi's office saying that they are closer to being able to

write a bill, but the speaker says more work needs to be done. speaking with msnbc, she said while she is hopeful about a deal, an agreement may not happen until after election day. those comments came after the unsuccessful effort yesterday to pass a narrow 5 bill china securities regulators have given ant group the dual listing for its ipo, and the company saying that it will split its stock you issuance equally across both locations issuing about 1.6 billion shares in each pricing is set to be released within the next week and finally, quibi is shutting down, the move is after it launched back in april and faced a number of problems including lower than expected viewer ship.

the company's founder and ceo will have more on this decision on squawk alley. >> what was your favorite show >> i didn't have a favorite. i think the lack that thof breako content was one of the issues. so we'll learn more. >> yeah, and some saying that whitman was an odd choice to run a streaming service. can't wait to see the interview. and now to the breaking news surrounding securityoff t over election iran and russia trying to influence voters with iran apparently sending out emails to likely vote toers try to incite them into social unrest and sway them away from

president trump. tracie potts is joining us with more heck of a story. >> reporter: well, it really is. and overnight the white house issued a statement taking credit for thwarting this saying that the president had told intelligence officials and law enforcement to be on the lookout for it but listen to the details, it is not clear at all that this attempt to influence our election has been stopped. >> good evening -- >> reporter: intelligence chiefs brief congress on the new development that iran and russia obtained o obtained voter information and urged florida voters to vote republican >> we will not toll late foreign sbchbs in o interference in our election >> reporter: and iran denied the ae allegations calling them absurd.

nancy pelosi called them disturbing >> if people don't believe the elections are fair, that is the beginning of the end of this democracy. >> reporter: separately, a cybersecurity firm says hack hes are selling public voter registration data for $1186 million americans. >> iran doesn't want to let me win. china doesn't want to let me win. >> reporter: president trump previewing tonight's attack on joe biden. >> if biden wins, china will own the united states. >> reporter: the "new york times" reports president trump had a secret chinese bank account. >> can you imagine if i had had a secret chinese bank account when i was running for re-election? you think fox news might have been a little concerned about that they would have called me beijing barry. >> reporter: president obama hitting the campaign trail for

joe biden in pennsylvania and again this weekend in florida. and florida is also where the president is headed after tonight's debate which is definitely one to watch. >> yes, it certainly will be tracie potts, big story there. thank you very much. now to the markets and your money ahead of that vote and whatever happens november 3, your next guest says there are still great companies worth your hard earned dollars. let's talk more about that with dr. joanne feeney from advisers capital. good to have you on again. how closely from an investment perspective are you watching the election and how much whatever the multiple variations of the outcomes are will it if at all change your strategy >> good morning, brian good to be with you. obviously the election is one of several risks that we're facing here towards the end of the year it probably isn't the biggest

one. i think covid is still probably the biggest risk and also the unpredictability of the stimulus but the election right now, the polls are telling us that biden is very likely to win. the polls also suggest that there is better than a 50/50 chance that the senate will turn toward the democratic party. so that is a risk that we search factor in. but really when you think about how to position for the long term, right, when we look at the data, the party of the president actually doesn't affect the economic growth very much at all. and so really you have to invest around that election risk. but it does give you an understanding of why near term risks are much larger than long term risks right now the biggest things to worry about obviously from the election perspective of a democratic sweep is that people will then anticipate higher taxes. not just the corporate income tax which would probably be a modest increase, but it is that

capital gains tax which could potentially trigger investors to sell off some of the stocks that have risen the most. so that is why we want to avoid some of the more expensive stocks and find ways to gain exposure for our clients to individual stocks that are much cheaper that have been somewhat overlooked but still have the strong secular xwlogrowth tail d >> and one of those is an under the radar amazon play zebra technologies >> right we started talking about this last time and we ran out of time think about amazon as the great white shark and zebra as the little fish that clings to the great white and gets to enjoy the remains, the leftovers of whatever the great white eats. so zebra makes the hand held bar code readers so the bigger amazon gets, the

more zebra gets to grow. so that is why it is sort of an indirect way of playing the whole move online. but they are also involved in supplying hospitals with the technology to track patients and for even in sports to track sports players and their movements on the field so they can get big data involved in doing analytics on how best to run plays and to find new players so they are a company that has become diversified away from amazon which is a good thing, but another example of where you can find secular growth. and t to that end, zebra is a little less well known. not one of the cheapest stock, but trading around the market whereas amazon is trading 60, 70 times next year's earnings so there is a value approach that we take for our clientses and we do get to buy them individual stocks, but then we also want to find income and zebra doesn't provide that take a look at a qualcomm and

broadcomm, you still have the tail wind, you get to play secular growth for clients and you get to get income. and right now, i don't know if inco income -- well, income investors realize this income is still in a bear market dividend stocks are still down over 25% year to date. so there is a lot of room there for clients to find tail winds for appreciation while they are getting some income. >> and very quickly, talk to us about stone co, cayman islands based, most of their business in brazil, kind of a mid-sized fintech company. >> yeah, we really like fintech. you look at the banks, they are part of the income stocks that aren't doing well yet. what we might call smart cyclicals eventually but the finteches are part of the secular growth story

and stone company is a great example, it serves brazil and other south american companies enabling them to move from cash payments to digital payments and they are one of the leaders there and this whole industry is relatively new in brazil, this transition from cash to digital followed from deregulation in brazil so even though brazil is still suffering like we a big challenge with covid, they are going to digital and stone company is helping they will there. >> and you have to look past it as well. love the new names stone co and zebra as well we'll see you again soon have a great day and when we come back, tesla up, tacos down the stock stories that you've got to know about this morning plus mcafee making a return to the markets, rest eslie pickr will break it down and a piece of trivia about voters that you have to go back

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burritos bowls to go, fixing your overby the aite. just some of the themes of what

to watch today >> a lot of great themes here to break out. let's take a look at chipotle reporting its largest ever quarterly sales. online orders helping to offset lost restaurant traffic, digital transactions tripling and accounted for nearly half the company's revenue, but that shift has created costs such as delivery fees that is weighing on profits shares are lower by around 4% but still up about 60% this year let's talk about peloton shares are falling this morning, goldman sachs downgrading the stock to neutral saying while still optimistic long term, he thinks investors should steer clear of the richly valued stock over the next few months shares verse have run up 318% this year. and align technologies soaring, the maker of invisalign braces jumping 23% and it reached a milestone of 9 million patients. the ceo citing the new teen and

mom consumer focused campaign which features social media influencers on tiktok and social media. how about that, brian. >> yeah, kind of cool i guess. i'd still rather have a taco seema mody, thank you, please send some tacos. on deck, our conversation with chevron's cfo about why there are so many oil mergers. i asked to do they want to make a bid to buy eonxx that answer when wex returns after this ng. setting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business.

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welcome back from connie company to parsley, nearly a deal a day in energy. but the one thing that really kicked things off is chevron and its buy of noble energy this summer and we had a chance to speak to one of the executives overseeing that deal, chevron's cfo, and i asked why he thinks we're seeing so many deals in oil right now and how important is balance sheet management for the oil and gas industry >> it is really important. there were too many companies in our sector trying to grow too fast with too weak of balance sheets and by consolidating, we'll end up with stronger financial players with management teams that will have more capital discipline, have lower gna and

will be able to return cash to shareholders which is important for the sector so we feel like we led the way, in fact we closed our transaction two weeks ago, others are announcing it now, but i think it is good for the industry >> dunk there will be more deals? >> i do. i can't speculate, but there is still a lot of players out there and more consolidation makes sense to me. >> should our viewers and investors sort of read this as the growth is probably over, we should anticipate, you know, these kinds of oil prices 40 to 50, 35 bucks, whatever, for a long time? is that how we look at it? >> i wouldn't look at it that way. it is still a very difficult macro. we have recovered from the lows of the second quarter and stabilized, but we're still below a pre-pandemic level what i would view it though as, this is an industry that is out of favor with investors. we hear that on your network often. and in part because we have not earned appropriate returns on invested capital, we have not

earned our cost to capital so the only way to earn above cost to capital is to be more disciplined with capital we think our ceo has led this way and we're seeing others. so i'd focus on higher returns, less focus on growth and that is part of the equation of attracting investors back to the sector >> you made a play and you didn't get it, and at this point you are probably thankful. you don't need to comment on other deals, but do you think that the level of debt across the entire industry is in any way sustainable? >> well, we walked away from anna darco and took our billion dollars because we wanted for show capital discipline. and you're right, in a different macro environment, but the same message, it still wasn't a sector that was not earning its cost to capital. so we are very focused on capital discipline in everything we do. it is what we are to do to

generate higher returns, so we're very selective in the projects we invest in. and whether that is in our conventional business or through acquisition. >> and i'll ask you a question and no one else is listening, are you going to make a bid on exxon in. >> i won't speculate on that we respect our worthy rival. we compete with them and they are a great company and we think that we're a very good company too. >> and what is amazing about the noble deal, a lot of people don't realize, even is looking at the permian basin you looked, took your billion dollars, and you are looking at the eastern mediterranean. noble's play is really sort of egypt and israel and cypress not a lot of people talk about it how big is that potential opportunity? >> well, that is certainly one of the assets that really attracted us to noble. it is a great resource, it is fully developed and constructed.

so now it is generating free cash flow and there are growth opportunities off of it, but we also like their position in the basin. they have other assets that we lisk and of course we have great syner synergy. so this is accretive to earning and to degree cash flow and accretive to returns >> and as understand, investors have let this industry go because oil prices have been vol volatile, but others are trying to convert their story to more is y sustainability how does chevron, an oil and gas company with gasoline stations, what do you have to do to make this sustainability story vie able and how do you sell investors in that.

it is key to the stock >> we share a lot in commonvieal investors in that. it is key to the stock >> we share a lot in common, and we believe the future is lower carbon, but our approach is different from some others we're not divesting away and diversifying away from our core business to go into a business that frankly we don't have competitive advantage in so our approach is how do we make our business, which is a good business, which the world will need for a long, long time, which has enabled great human progress, how do we make that business more sustainable in a lower carbon future. so our actions are around lowering the carbon intensity of our business, increasing renewables in support of our business and trying to make the franchise, that core conventional oil and gas business more sustainable in a lower carbon future. >> thanks to pierre breber and it was a timely talk because it comes with it new reports that fellow oil giant exxonmobil is letting employees know that

possible layoffs are coming. the ceo writing an email obtained by bloomberg basically saying that we're in tough times and unfortunately, it is going to result in a number of our fellow workers being let go. now, for his part by the way, darren woods gets a 25% raise in 2019 to a salary of $23.5 million. all as that stock price goes from $70 to $33. 25% raise in 2018. layoffs coming at exxon. still ahead, the latest on that late breaking story on u.s. officials, warning of election interference just over a week out of the presidential contest. eamon javers will have the latest expecto patronum!

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futures are down, could stocks really echnd a month lon win streak and scary concerns about election security. top intel officials warning about apparent interference with iran trying to sway voters away from trump and tesla, ask that stock have any gas left in its tank.

this is "worldwide exchange" right here on cnbc ♪ in respect. welcome back, everybody. good too have you with us on this thursday morning. here is how your money and investments look as we're about halfway through this 5:00 a.m. hour futures down a bit 57 points. and as tom petty sang, the waiting is the hardest part. investors might agree waiting for the stimulus deal to get passed, waiting for the election, more on that in a moment you might see the markets do what they did in 2016, which is a whole lot of nothing as we walts wait to see what happens on november 3 either way, we've been in a multiweek long win streak and if we don't turn it around today or tomorrow, that win streak will go away. but right now, back to the

election and more of the big story. u.s. intelligence officials accusing russia and iran trying to interfere and stoke social unrest in america. eamon javers is joining us with what we know >> yeah, this news conference last night was hastily called. just about a half hour's notice for the media that this was coming but they said that both iran and russia have obtained voter registration information, some of that is publicly available, some of it is more commercially available, but nonetheless they are worried that both countries might try to do something. in the case of iran, they said they have already seen iran sending menacing emails meant to sow disruption here is the director of intelligence >> this data can be used by foreign actors to attempt to communicate false information to registered voters that they hope will cause confusion, sow chaos

and undermine your confidence in american democracy to that end, we are hahave alrey seen iran sending spoofed emails designed to intimidate voters, incite social unrest, and damage president trump. >> now, google last night said it had seen some of this as well what google is saying, we and others have seen evidence that an operation linked to iran sent in-authentic emails to people in the u.s. over the past 24 hours. for g-mail user, our span filters spent 90% of the approximately 25,000 emaili ins sent so 25,000, not a major effort if spam filters blocked a lot of that but what the emails were is they appeared to come from the right wing group the proud boys and be targeting at democrats encouraging them to vote for trump and saying we're watching you, we have your home address, we they who you are, lookout so voter intimidation effort

and the question here is really going to be one of intent. because chuck schumer came out last night and said that john ratcliffe's discussion of this and description of it as something that was designed to harm trump doesn't square with what he was briefed on from the intelligence community where this is more an effort to sow chaos generally inside the election so what were the iranians trying to dohere is an important question and did they accomplish anything is another important question >> you know, listen, we focus on that, by the way and i'll go in a different direction, today in a panel, i think it is publicly available, i'm going to interview the fcc chair. we'll talk about section 230 which is the idea that social media companies are, quote, publishers you are sort of our cyber expert i'll ask you this, i mean, we focus on the election, but do we need to focus more on the cyber side of things, whether emails, social media because that is how the information gets distributed

you just tongue in cheek it, maybe we all just need to stay off the stuff for the next couple weeks >> good luck with that, first of all. look, this was not a terribly sophisticated effort they grabbed a bunch of emails, a lot of this stuff is available on the black market relatively cheap and patched together a hand fixed intimidation effort not clear that anybody was intimidated by this, but it is spooky to get an email from a group saying they are targeting you. so they are spamming voters. will that move the needle in any of these counties in that is unknown right now. but i think to your broader point, the question is what do we do about the tech he companies in general they have insisted for years, they are just platforms, not publisher, so they don't have any liability for any content that crosses their wires in the way a media company would.

and that is a big question if you change that sort of description of the industry, you change the industry all together back over to you >> you do, but when you talk about democracy potentially being at risk, i mean one wonders -- i'm not advocating either way, but i wonder what the discussion is. oh, we're just a platform. well, a platform that allows mass distribution of information. could be an interesting conversation with the fcc chair. eamon javers, thank you very much and now the stock of the day, tesla, reporting its fifth straight quarterly profit on an adjusted basis selling about 139,000 cars in the third quarter and still on target to deliver 500,000 this year tesla not just selling electric cars it is working on self-driving, car insurance, power storage, robo taxis and much more and elon musk says he you views

tesla as a series of startups under one roof listen >> i think that people just don't really understand about tesla is that it is a whole chain of start juups. well, you did not did that before yeah, but we're doing it now.no before yeah, but we're doing it now so far we've many been a bit slow with some of the startups, but i don't think that we've had any of them fail so so far so good. >> let's bring in david nelson, chief strategist at bell point asset management you listened in on the tesla conference call last night i did not but i'm told they are always kind of an interesting and let's just call it wide ranging affair what was your takeaway, david? >> it was my first conference call with elon, and i got to tell you, it is different. you find yourself inside of elon's head as he ping-pongs back and forth from one subject

to the next. at one point he was arguing with himself over design issues and engineering problems i think that ebts with ovit wenf heads of a lot of people i think we're probably at a disadvantage because we're forced to discount and look out a decade this is a company with the vision thing and elon certainly has that when he talks about reshaping the future and it is intoxicating and you find yourself looking beyond, you know, some of the other issue, the mundane issues like valuation maybe the most interesting question on the call was when one analyst asked elon what could other car companies do to catch up and he said what can they do >> and what is the answer? >> i don't know. i don't know at this point at some point in time these other companies, they have legacy issues, so obviously tesla has a leg up on this i think the biggest knock on

this company right now is in the automotive section and dependence on the emission tax credits. at 397 million for this quarter, that is up 196%. and that is not sustainable because at some point in time the other oems, they will be making their own electric vehicles and they won't need those credits. so again, they have to con enis straight a lot on gaining that bottom line profitability real and that is in part why they didn't make it into the s&p 500 last quarter >> one wonders, we all talk about the move to the electric vehicles, one wonders if they will make a move to ev ares or just a move to tesla if you look at registrations, car and driver makigazine has te number of registrations for model 3 teslas is more than all the other electric vehicle sales combined and some of these numbers are dismal you look at the numbers from jaguar and audi. and i'm not picking on those companies because their products are nice looking and well

billed, but they are selling a couple thousand cars are evs the wave of the near term future or is tesla its own thing? >> you know, for the bears, the one thing that bears held on to for such a long time is that there would be competition but everybody seems to be going for the tesla model. the model y is a big car for them because that one has a higher average selling price while at the same time has the cost structure of a model 3. and this failure of the bears to make a dent here is in part why the shorts have just collapsed and gone away. at the start of this year, i remember looking, shortages was ten days to cover and it is down to one they have thrown in the towel. and the stock really did nothing last night it was at 4. at the sta37 at thf the call and at the end of the call it was tell 437 >> as a trader contact of mine

said to me a couple months ago, tesla is not a part of the market, in many ways tesla is the stock market more than the faangs because there are so many shares outstanding and so many options that our viewers probably don't know tied to tesla's stock that tesla sort of not holds up the market, but matter as whole lot because of all the instruments and other bets tied to it. >> i think that makes a lot of sense, sure. >> david nelson of bell point looking at tesla congrats on the first conference call as well we'll talk to you soon abouten. coming up, call it wall street deja vu, cybersecurity company mcafee is going public again albeit not with their rather unique founder and ceo. leslie picker is up with that. dow futures arup4.e 3 in a few moments, rackspace technology will enter a

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for skin as alive as you are... don't settle for silver ♪ gold bond champion your skin mcafee set to make its return to the public markets this morning after pricing its ipo, it comes as a lot of us work from home leslie picker is joining us with more i don't think that it will be the same with two things, the colorful founder shall we say and the fact that it pops up on our screen every four seconds asking us to update something. >> don't you just miss the '90s,

brian? you're right isn't it appropriate that an anti virus public would be going public in 2020 unfortunately, it can't tackle the coronavirus, but for more than three decades, you may have used to tackle computer viruses. mcafee set to begin trading today. the first was in '99, then publicly traded and then acquired by intel in 2011. intel still owns a stake and then tpg bought mcafee from intel five years later and mcafmcaof a mcafee sold a stake. today half of it's revenue comes from consumers, and the other half from enterprises. bulk of revenue is recurring with customers lock into sub skripgs. mcafee price came in toward the lower half of the range at $20 per share.

at that applies, tprice, the coy generat generated $620 million in proceeds mcafee is trying to ride the software ipo wave after other debuts earlier this year but mcof a he fee is older, slower growing, top line revenue gained just about 9% last year and the company is not profitable and it hasn't been profitable since at least 2015. shares of mcafee are listed on the nasdaq and are expected to begin trading in about five hours time under the symbol mcfe >> it is early and i got this thing in my ear. i thought you said the company hasn't been profitable in five years? >> yeah, that's right. at least going back to 2015 which was the most historic date

in their s-1 filing. these days investors don't seem to care too much about profitability, but that pass is usually reserved for more companies that are quicker growing on the top line. >> leslie picker, mcfe and yes, i do miss the '90s because that was 30 pounds and a lot of hair ago. leslie, thank you. >> same. >> i don't think so. in-drdestructible beetles ad battery power? seema mody joining us with other trending story what do you know >> let's start with the insect story. scientists atc irvine of the super beetle researchers ran over it in a car

discovering just how much pressure it can withstand. 39,000 times its own body weight if you are counting. and from one super beetle to another, paul hk mccartney releg his newest album that he recorded at home by position during the pandemic. and samsung has named a galactic laser stallion to write tracks about its products. the songens we es were intended verse sales staff and available to stream on youtube and spot spotify. >> that guy looks a lot like poison would you say -- could you rank your top two hair metal bands?

mine would have to be kicks and probably rat >> i'll just go where your because let's be honest, i'm more of a '90s girl. so i don't have knows tthose tw. but i think this is an interesting way for samsung to get its products in front of a broader audience and get its staff at verse moizon more pull about its products so it is a creative approach to marketing. >> and it worked because we're talking about it their little trick worked and now the national media is look oh, look at samsung. it worked. >> but will it help sales. >> we'll find out. torah, torah, torah, deal. about all i know on deck, your morning rbi and the lessons that history may be teaching us about undecided voters back with more on that dow futures off 50 5g just got real.

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today's rbi dives into the world of politics. but don't turn the dial, this is data, not opinion. and if you think that most people already have their mind made up about who they will vote for, you're right. and in fact you're more right than you may know. look at this, jpmorgan aggregated data from a bunch of sources and found out that the smallest percentage of american voters do not though who they will -- do not know who they will vote for right now since 1932 as much as 25% of voters did not know just weeks before the election that is the blue line. the candidates probably weren't all that different but even four years ago, a huge percentage didn't know many of those went to trump as we do know but now the sides are chosen

look at that blue line, under 5% and you have to go back to fd rchr to find a time when all the voters in america were already this sure of who they were going to vote for. 88 years of presidential history, withdrawn drandom but interesting. and i'm hitting the road next week join us for the next ten daysn interesting. and i'm hitting the road next week join us for the next ten days for the election roadmap road trip i'll be traveling by car by myself across nine states including some of the key battle ground contests. we'll tell you the states, the counties, the cities that turn the election in 2016 that may turn it again this year. what are those counties? there is not many of them. you'll be shocked to know what might happen the great american road map road trip, nine days, nine states, one election

not going to tell you where i'll end up each of those days. i know, but you grot to tuyou go wex and cnbc all day starting next week through the election going out to meet some of the stories and the people that might turn it as well. only way to learn is to actually go out and talk to people. novel concept. let's stick with the election and the markets. for though, we're joined by greg want to join me on the road trip can't be in the car together, but we could drive side by side i guess. should be a good time. >> sounds like a plan, i'm in. >> it is important to tell the stories. let's tell the story of the stock market right now in 2016, the market did nothing leading up to the election we've seen more volatility this time do you think this maybe to be kind of on hold for the next week and a half or could lack of stimulus cause more volatility in. >> i think more volatility is in the cards.

i think the markets don't like uncertainty and everything that we're reading and seeing suggests that there is not a clear land slide and as the days and hopefully not weeks, but as times go from november 3 until we know who is in the white house, who is in the senate, far are kets could be very choppy but i think that is a short term opportunity and investors should prepare in advance of that now this is a good time to raise ca cash now is a good time to do gifting while equity prices are still high so yes, anticipate volatility, but i expect that to be short term and may present a buying opportunity. >> you're one of the top financial advisers in the state that matters a lot and i won't give it away, but my first stop on that road trip monday will be somewhere in i don't you are state of pennsylvania not a political comment, but a markets comments, are you at all

aside from rizi iadvising more charitable giving shifting your strategy based on guesstimates of what happens on the election or is it just straight and steady >> yeah, i think longer term it is straight and is it he had d did -- steady. i think themes will change depending on the outcome, but a couple areas that we like regardless really are emerging health care biotechnology. we believe that emerging companies in gene therapy, cell therapy, demographics of the aging population won't change no matter who wins on november 3 and their need for health care and drug development will continue not the large phrma per se, but the next stage below these companies represent targets by big phrma whose pipeline may be drying up, innovative technology too. so think the next apples and amazons, cybersecurity, driver less vehicles. so these are the disruptive technologies we're looking at on

the health care and technology sides. >> greg, appreciate you coming on an important time because there is a lot of tax issues at stake on what happens on november 3 that your clients and our viewers will care a lot about. that does it for us here we'll leave you with dow futures off 28 with a multiweek win re ijeardy "squawk box" is next we live with at&t and we are well past the honeymoon phase.

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uncertainty in washington, no stimulus deal yet, and now the nation's top intelligence chief is warning of new election interference attempts from where you might not have expected it tesla reporting its fifth

straight profitable quarter, we'll big through the results with the biggest tesla bear on wall street. and people have been using the pandemic lockdown apply to straighten out their smiles. i invisali invisalign's parent company's stock soaring. "squawk box" beginning right now. welcome to "squawk box." we're watching the u.s. equity futures this morning it has been a rough week for the markets, carrying out once again this morning the dow futures are down by almost 50 points s&p futures off by a little over 5 and the nasdaq is up by about 3 points if you have been looking at what has been happening all week though