global headquarters and here is your top five at 5 wall street waking up to more losses this morning as covid cases talk about surging to record levels. investors preparing for the busiest week of earnings season so far facebook, amazon, caterpillar, boeing and more all on tap just little more than a week to go for the election day the candidates hit the campaign trail very hard. so is our very brian sullivan with a closer look at the key

battlegrounds to watch in washington, d.c. is senate is set to vote on the confirmation of judge amy coney barrett after clearing a key hurdle over the weekend. time to make the donuts. a possible $9 billion deal topping this morning's news that is sure to get your coffee brewing. it's monday, october 26th, 2020. you're watching "worldwide exchange" right here on cnbc ♪ ♪ good morning welcome to the show i'm dominic chu kicking off your monday morning with stock futures pointing towards losses right now. as you can see the implied open for the dow is roughly 308 points to the downside s&p is implied lower by about 39 and the nasdaq down by 129 points if these futures holds into the opening bell for regular cash equities trading

the major averages coming off their first down week in the last three the nasdaq taking it the hardest with more than 1% loss on that side of things on the flip side, you've got the russell 2,000 small caps continuing its run higher. seeing third positive week in the last four. the dow transportation stocks, by the way, just 1% away from an all-time high. crude oil also making a sharp move lower today as you can see here, ice brent crude, off 2.5%. $40.73 wti crude 38.80 downside here. so those moves ones to watch as well on an otherwise down day happening overall. all of this as we brace for a very busy week ahead of earnings season starting in earnings busiest week of the quarter, about one third of the s&p 500 reports including 10 dow components. the names you want to watch include caterpillar, apple,

microsoft, amazon, alphabet, facebook, you get the idea about 170 companies reporting throughout the course of the week in the s&p. this of course falls on the backdrop of rising covid-19 cases in the u.s. and abroad while deaths are down, that's a key there, daily case counts are setting new record highs the u.s. topping 83,000 new infections in a single day over the weekend. europe also seeing spikes and implementing new restrictions on their own. more on that in just a moment here and then there is, of course, the election just over a week to go and the candidates criss-crossing really across the country in a battle really kind of to push those battleground states in play. we check in with brian sullivan on the key counties that could decide or make or break all of it that's coming up shortly around the world mostly down day for stocks overnight in assia

we're predominantly red. sticking with our reds overseas and developing story in the fight against the coronavirus. europe finding itself in the grip of a record-breaking second wave the spike is forcing italy's government to reduce operating hours for bars and restaurants, close entertainment venn use and fitness centers as well. spain also approving a new national curfew from 11:00 p.m. to 6:00 a.m. both of these countries form the epicenters of the virus outbreak that happened back in the spring we are now joined now by cnbc europe claudia live in milan claudia, i guess the issue right now is how extensive is the problem in italy and what exactly is being done to tackle it is it perhaps as draconian or more than what happened in the spring >> yes, good morning, dom. italians did wake up on this gloomy monday morning to face

these new restrictions that have been put into place. now, it's being call adminny lockdown because they're not as severe as they were in march and as you stated italy was one of the countries that led the way in the first lockdown. now, these new restrictions are mostly to try to keep people at home but without stopping the economy, which is what happened in march so, the bars and the restaurants, the theaters, the movie theaters, the gyms and the swimming pools are all going to be closed. the high schools are going to be running at 75% online and 25% at school while the younger children are going to continue to go to school and this is to allow their parents to be able to continue to go to work so the intent is to try to keep the economy going and an economy that's going in a worst case scenario take a gdp pal of 10.5% this year and grow little over 1% next year already this is an economy that's taken a big hit so italians are very nervous about what is going on now the government has also said

they will be supportive of those sectors that are taking the hit in this second mini lockdown again. bars and restaurants that will have to close at 6:00 p.m. and so of course that's when they get a lot of their business and some may not be able to open at all if they don't have the evening business, it may not be worth for them to even open. so it really will be a difficult next month, but this is to try to avoid a full lockdown and try to get to christmas in a situation where the numbers are a bit more contained dom? >> yeah. is the italian populous the citizenry there okay with what's happening? is there perhaps a little bit of opposition to what's happening right now? or is there an appreciation for the fact that with the surge in cases there could be an even worse winter to come so this is going to be the tradeoff, the price to pay to head off worse conditions in november and january >> well, dom, actually that's the most critical question

that's really interesting because you get a mixed reaction on the one hand, since we did suffer the greatest number of deaths after the uk here in europe, italy has a very sort of an open scar with what happened in the first tranche of this -- the first wave of the coronavirus. so italians are generally afraid of this virus. so they are not as, you know, opposed to staying home. but by the same token they have taken a very big hit as far as the economy goes remember, 13% of gdp in italy relies on tourism and hospitality. there is once again once the mixed reaction from italians but hopefully they will be able to contain these numbers that have been growing and in a month be able to sort of pull back on these restrictions. >> cnbc claudia in italy with the latest on lock jouns and covid-19 thank you very much. back here on the home front, new progress from oxford in its

development for a covid-19 vaccine. good morning, bertha >> good morning, dom yeah that's right the financial times reporting that the vaccine being developed by oxford and as tra zen ka produced a robust immune response the latest results do not guarantee the vaccine will prove safe and effective until full trial data for this age group has been analyzed but researchers are encouraged by the latest development meantime, duncan brands says it has held preliminary talks to be acquired by private equity backed restaurant group inspire brands the deal being discussed would take dunkin' private at a reported price of $106.50 a share a near 20% premium to

dunkin''s closing price on friday neither company is commenting on the terms of the deal, but you can see dunkin' there not yet moving here in the premarket and ant group has set a price for its ipo in shanghai setting the stage for a huge sale that could give the alibaba backed fin tech valuation larger of that than jp morgan chase. speaking at a conference over the weekend, alibaba founder di not disclose the price but said it will be the largest listing in, quote, human history ever the salesman, dom jack ma. human history. that's a pretty big price tag. >> that is a very big deal and price tag, but the man did run and create the biggest ecommerce platform in china, so sales is part of his job bertha, i guess. thank you very much for that back to the markets overall

and stocks under pressure over these rising covid-19 cases in the u.s. and overseas. all of this with the busiest week of earning season this week here coming up in just one week to go until the election in 2020 for more now i'm joined by chief market strategist at sun market. i wonder at the catalysts at play here in the next two weeks what has your attention and focus the most >> well, i think on the near-term just with the headlines and the covid will get the market's attention and as we go into the election we thought it would be pretty sloppy into the election, but i think investors shouldn't lose sight of the big picture and the big picture in our view is that we're in the beginning stages of an economic expansion, likely a multi-year economic expansion. and for stocks that also means we're likely in the early stages of a multi-year bull market. if we think about this market over the last few months in september, markets sold off based on the market getting more

certainty about the election and then the market rebounded as biden started to pull away a bit. i think the election may be tightening so i expect it to be choppy, but again the primary trend in our view is still one that is positive and several of our market indicators suggest that >> all right so if it's generally positive, how exactly would you then be committing capital to the market is right now a place to go right into do you find strategic points i know you watch the charts. are people waiting for dips and buying those how do you strategize that type of deployment? >> the first thing we did during the correction in september we increased equitis. now bebounced back off those lows so we wouldn't be as aggressive if you have cash on the sidelines we would work some of that money in. everybody is waiting for clarity. as far as position and big picture goeblly we like the u.s. relative to other markets overseas we are still allocated towards

large cap as a whole small caps are acting better but waiting for more confirmation and more from a sector strategy a barbell approach we still have a growth bias as far as technology and consumer discretionary with those covid numbers moving higher, i think those will still be well bid as we move past this eventually and get a vaccine and past the elections, we think materials and industrials are the best sectors on the economically sensitive side i think more of a barbell approach makes sense i would say for investors to focus less on the next 5 to 10% and focus more on the bigger picture the next 50 or 60% if we are truefully a bull market which is our base case. >> thank you very much we appreciate it >> great thank you. when we come back on the show, gauging the impact of the u.s. election on the global trade scene and esg invest. plus the 2020 hurricane season is getting ready to set

another record as new orleans once again prepares for the worst. we've got much more on that. and later more, much more on this morning's market action with dow futures right now pointing to almost 300 point losses at the opening bell chief investment officer of uvs global wealth management mark haefele is here when "worldwide exchange" returns after this ready to take your immune support to the next level? nature's bounty is here for you. the number one herbal supplement brand

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welcome back to "worldwide exchange." with the election just over one week away, "the wall street journal" taking a closer look at the president's 3.5 year trade war with china, concluding it did not boost u.s. manufacturing despite many of the tariffs on hundreds of billions of dollars worth of chinese goods the trump administration says the impact of the trade war will be felt over time, but according to data analyzed by "the wall street journal," the spike in u.s. manufacturing jobs back in 2018 took effect even before the tariffs took effect. so what can investors expect in the next four years regardless of who wins? joining me now is sherry moderna. thank you very much for joining us this morning. "the wall street journal" is not exactly a liberal publication. yet the story there is that perhaps the manufacturing health may be a bit overstated. what exactly can we say about the trade war with china under

president trump and where it goes hypothetically if he takes another four years in office >> right, thanks very much for having me. incredible topical to think domestic and international policy and practically the eve to the election. i think this week we need to think about what china is doing. china at the moment is involved in five days worth of leadership talks thinking about their plans going forward. so right now the u.s. and shy that have a first degree trade agreement. always seen as a steppingstone going forward. so i think that we need to think about what it is that china is considering for the u.s. relationship and it's not only about access to markets. it's also about access to finance and capital. that's one of the things with should be thinking about how it is that both the u.s. and china fair going forward and where any trade agreements might include access to financial capital. >> so the access to financial capital aside, i'm going to get to that in just a moment here. let's talk about whether or not

the election is going to be a big deal when it comes to that trade negotiation that's currently happening between the u.s. and china is there a candidate, the president of the united states, president trump right now or candidate joe biden, which do you think produces a better outcome for the u.s. in terms of overall trade policy >> right now when you think about china it is a bipartisan issue. when you look at a trump win or a biden win, both are going to be tough on china. so if we're looking at what the ramifications are, i think -- >> all right sherry, i think we're having some technical difficulties with your feed there but we will try to get you back on to talk more about the elections and china and the u.s. trade negotiations. thank you very much for that still on deck for the show,

call it a license to stream. why james bond and daniel craig are topping this morning's trending stories but first -- >> announcer: today's big number 35%, that's how much deloitte expects ecommerce sales to grow in the november to january holiday shopping season. the firm estimates online sales will generate between 182 and $196 billion ith pion aterd.

♪ all right. that was a check on the dow laggard so far premarket let's check on the other top stories outside the world of business francis rivera has the latest this morning good morning, francis. >> dom, good morning to you. once again coronavirus is casting a shadow over the trump administration with five of vice president mike pence's top aides testing positive that includes his chief of staff, mark short and his long-time adviser marty. spokesman says the vice president and his wife have tested negative, so he is staying on the campaign trail with eight days to go until the election the gulf coast is on alert for another tropical storm and

could become a hurricane by late today. the gulf is still dealing with the aftermath of previous deadly storms it was an all-important night in game five the world series the dodgers came up firing with peterson's home run in the second making it 3- 0. the rays made it a game. randy's hit in the third set the post season hits record, 24th of the playoff but key defensive plays and extra run kept los angeles ahead. the rest of the game there, dodgers win, 4-2 game six, of course, is tomorrow, dom. those are your monday headlines. >> dodgers looking to close things up with a 3-2 lead in the series thank you very much, francis rivera. straight ahead on the show, stock futures under pressure to kick off the week here what ubs mark haefele says about the selloff and busy week ahead for wall street when "worldwide exchange" returns after this what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders

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♪ stocks set to kick the new trading week off with steeper losses amid mounting concerns over the coronavirus outbreak. the senate set to vote on amy coney barrett to the highest court in the land kicking off a busy week leading up to the 2020 election. speaking of the election, brian sullivan, is traversing the countryto the key counties that could decide the presidential contest

it is monday, october 26th, you're watching "worldwide exchange" on cnbc. ♪ ♪ welcome back to the show i'm dominic chu in for brian sullivan today here is how stock futures are shaping up as we're hatchway through the 5:00 a.m. eastern time hour. we can see pretty steep declines relatively speaking. 290 points lower the dow joens s&p 36 implied and nasdaq off 111 off the lows of the session. we're bouncing a little bit here in the course of the last hour crude oil prices making a sharp move lower this morning. u.s. benchmark wti crude futures $38.82 that's about 2.5% declines there. ice brent crude $40.75 about 2.5% downside as well. a lot of those same concerns affecting equity markets also

hitting those prices for oil as well all of this as we brace for a very busy week ahead starting with earnings and the busiest week of the season about one third of the s&p 500 reports include 10 dow components highlights, caterpillar, apple, microsoft, amazon, alphabet, facebook, you get the idea very big names all up on tap. this, of course, fames on the backdrop of rising covid-19 cases in the u.s. and around the world. deaths are down. that's important but the daily case counts are setting new records. the u.s. is topping 83,000 new infections in a single day it did so over the weekend europe is also seeing spikes and implementing new restrictions of their own. and then, if you needed any more, there's the election just over a week to go the candidates are criss-crossing all over the country in a final battleground state push we will check in with brian sullivan on the key counties

that could decide this make or break election all of that coming up in just a moment we are also watching shares of s.a.p., the german software giant under pressure following its thirty quarter results that's off the lows of the session 20%. the tech company revealing its revenue declined 4% for the period and the company's ceo offering a more optimistic outlook while speaking with cnbc europe just earlier this morning. >> when you look at our cloud form model yes there is a downward trend and solely only related to our spend management category is to concur and again in this crisis trouble and expanse business travel is obviously down and we definitely expect that because this is the market leading solution, this will bounce back next year after the crisis there's no doubt about that. and the rest of the businesses actually doing pretty well

>> now at one point today s&p lost about $34 billion off its market value now, s.a.p. is taking the rest of europe down with it the heaviest hit on the german dax where it's a member there down by about 2% the cac in france all in the red so far today s.a.p. a big story in the european trade turning now to washington, d.c., and what's shaping up to be another busy week ahead of this elek, the senate is expected to confirm judge amy comey barrett to the supreme court later on today as lawmakers also continue to reach a stimulus deal in those negotiations eamon javers joins us with the latest let's start with the big coney barrett confirmation vote. what can we expect it's pretty much a done deal, right? >> yeah, that's right, dom the president has two remaining big priorities here in the run-up to the election the first one is amy coney barrett to the supreme court as you say, that's expected to sail through in a vote as soon

as today so the president making progress on that one. but not necessarily on these stimulus negotiations, his other big priority negotiators continue to talk over the weekend but they seem to be stuck in a rut, just unable to make progress moving into the election next week so that seems like a stalemate of sorts we'll see what happens later in the week there's a war of words going on, dom, over the coronavirus as white house chief of staff mark meadows went on television to say that the white house simply isn't going to be able to contain the disease at this point. here is what he said -- >> so here is what we have to do, we're not going to pandemic, we're going to control the fact that we get vaccines, therapeutics and other mitigation -- >> why aren't we going -- >> now, that prompted a sharp rebuke from the biden campaign here is what they said in a statement yesterday -- saying, that wasn't a slip by meadows. it was a candid acknowledgment

of what president trump's strategy has clearly been from the beginning of this crisis to waive defeat another outbreak of the coronavirus inside the white house with the vice president chief of staff mark short and a number of other vice presidential aides testing positive over the weekend and in past days. all of that, though, not stopping the vice president. he says he has tested negative and going to continue to be out there on the campaign trail through the rest of the week, dom. back over to you. >> eamon, you mentioned speaker pelosi and marc meadows. how are they both accusing the other yesterday of moving the goal post, their words or marc meadows words in the on going stimulus talks what are the actual chances we get some sort of agreement before the election day, a little over a week away? >> i mean, dom, the only reason we're talking about this is because there is this global pandemic and americans are suffering. so this is not a usual year.

but in any normal year there is zero chance of major piece of legislation happening a couple days before a major national election not any incentive on either side to give the other side a political win going into the election year. this year you could say maybe there's a chance but it looks like this is sort of ka buicky theater negotiates between themselves when there's reports that mitch mcconnell told the white house he doesn't want to deal until after the election any way. it's up to him whether this thing moves forward or not the president has said he's confident his fellow republican mitch mcconnell would move a bill to the floor if there was an agreement so, we'll see whether that's, in fact, true it doesn't seem like we have any indication of that from the senate side. on the house side, you know, they're talking about they had an agreement on testing last week that never came to fruition. so even the things they say they agree on they don't agree on at

this point seems like they're a long way away. >> the chess match is having a real effect on human's lives thank you for the update eamon javers in washington, d.c. >> you bet. your next guest says the u.s. election, stalled stimulus talks and heightened volatility around the outlook for the economy and the markets. mark haefele, ubs global wealth management he joins us on the cnbc news line good morning to you, mark. you heard eamon javers reporting on the status in washington, d.c. how important is a stimulus deal to the economy, not just here in the u.s., but trickling around the world as well? >> well, it's a great question and i think some level of stimulus as we get towards the end of the year is important, but whether it happens in the next week or not is probably not that important

so what i think for most investors what they really need to focus on is looking out into the first quarter next year we should have some stimulus. we should have some vaccines we know we're going to have this continued central bank support globally that is the strong environment for us to continue on a recovery path and that means that stocks can probably do better as we go into next year >> does it matter who wins the election, mark i know that it's a very broad question here, but it seems as though many experts, including yourself, claim that the bull market is in tact. things can continue higher so how much should investors pay attention to policy rhetoric coming out of the candidates if, in fact, the bull market will stay in tact no matter who wins? >> well, you know, i guess one of the things to do is look at

history and throughout history since 1932 excluding 2008 the s&p 500 has typically been slightly positive one month prior to the election and then you can get some volatility and it continues to go higher into the new year in some ways it doesn't matter we know for certain sectors and for things like ta is leaning more towards providing fiscal stimulus with lower taxes or fiscal stimulus through more government spending, that is stimulus and should help continue the recovery >> all right so if stimulus is going to be in play regardless of who wins the white house, perhaps who wins the senate, blue wave or anything else aside, what exactly then is the outlook in 2021 for investors is the stimulus going to be driving pretty much everything that's happening in our macro economy here in the u.s.

>> i think that the ultimately getting the vaccine and getting more of a return to normal is more important and we know that the science is coming we just don't know the exact timing yet but that's probably -- ending that fear of going out and living your life or going to a movie or restaurant or getting on a plane, that's probably the most important thing and we remind people that while we've had a spike now as people have gone back to work and school, that timetable, we don't believe that timetable we set out over the summer has been pushed back meaningfully most of the drug programs are still on track >> we just showed viewers out there three different scenarios you laid out there in terms of what your cases could be for upside, downsi base case and what are the opportunities that are there in case things do get

volatile >> yeah. i think it's important to look at things in a scenario analysis so much moves beyond markets and what we learned in school about economics. it is really about politics and things that's why politics isn't always amenable to rational analysis. that's why you have to have scenarios. in the base case where it is likely that the white house changes ownership, we think that buying into sustainability is going to be very important i would note that certainly for the u.s., the green agenda could change it's changing rapidly with china and europe committing about 1.85 trillion euros in stimulus over the next seven years towards

greener infrastructure so that is something that we would ask people to take a stronger look at but then as with some of this volatility recedes we think next summer the s&p 500 could be at 3,700. mark haefele, thank you very much always great to get your thoughts, sir. cnbc is hitting the road ahead of the election all this week brian sullivan will be driving through many of the key battleground states, taking you to some of the most important counties we're getting that regional counties in the race to the white house. four years ago just a few areas turned the entire election we'll show you the counties that may matter the most this year and tell you the stories that matter from the ground. a big run through the battleground states all heading up to the election tune in all week, by the way,

starting today with a stop in erie, pennsylvania >> hello, erie >> reporter: erie, pennsylvania, known as the flagship city a large population are registered democrats, trump scaled the blue wall to win here in 2016. becoming the first republican to win their vote for the white house since ronald reagan back in 1984. but it was close and that's got democrats very excited this year. trump won erie county by 2.2% around 2,000 votes some 10,000 voters flipped from blue to red four years ago 34 many of them blue collar voters. it's still a nuts and bolts type area with big employers including ge's lab tech and lord corporation. the key on decision day, will

trump's america-first message still resonate in an area where job losses have been great and unemployment in august was above 11% or joe biden, born in the state and campaigned and spent hard here bring those voters back to the party that they voted for for years? we'll know in a week, but one thing is clear, the keystone state is a key state to the election and both trump and biden will eye erie county as a big prize. >> thank you very much brian saul van for that report brian will have more on the counties that will play a major role during the election coming up here all throughout the course of the week only here on cnbc so stay tuned. a lot of big counties and their swings coming up ahead coming up on the show, the new james bond film. bypassing theaters, believe it or not, yes, no. the report suggesting a potential streaming strategy for the world's greatest spy oo 7

going online but first as we head out to break, facebook is reportedly preparing emergency measures to counterpotential unrest in the wake of next week's election according to "the wall street journa journal", the steps which were originally designed for countries facing mass ethnic or political violence including slowing the spread of viral content and lowering the bar for suppressing inflammatory posts a very big deal on information sharing. shares of samsung electronics and its affiliates rising following the death of the company's chairman over the weekend. li is credited with turning the company into a global technology and industrial leader after taking it over back in 1987. american airlines is planning to give customers tours of boeing 737 max jets in the coming weeks the move along with calls with its pilots is aimed at boosting public confidence in the plane

as boeing works to return it to service. a very big deal there for boeing and american airlines. "worldwide exchange" is back in just a moment.

welcome back to the show oo7 bypassing the big screen elon musk not saying so long to the golden state bertha kooms is back with a look at some of these top trending

stories. bertha, i'm not sure where to start but we're talking about a lot. i'm a huge james bond fan. >> yeah. well this is one of those stories that was shaken but not really stirred james bond potentially heading towards netflix or the small screen well apparently there was an attempt. variety and bloomberg report mgm tried to shop no time to die to the major streaming services the movie's delay until next april. mgm not about to let daniel craig's final turn as bond go for cheap. reports say the studio wanted $600 million roughly 75% of what the last movie specter made at the box office as you can imagine, that's a bigelow of dough, netflix, amazon and apple said no mgm denying the reports. meantime, elon musk may be moving some of tesla's production to texas but he's not

leaving california any time soon tmz found musk at a restaurant this weekend and asked about his plan to sell his worldly possessions including a home once owned by actor gene wilder. tmz asked if he's selling property because he's opening a new tesla gig factory in texas and will be leaving as well. and musk replied, no i'm not. stay tuned for that one. doordash is partnering with a restaurant to build a new brick and mortar location. the san francisco chronicle reports berma bites a spinoff of oakland based berma superstar is designed only for delivery and takeout. doordash says it's been working on the project for about a year now. you know, this is a really old idea, dom. i remember there was a great vietnamese restaurant the first market where i worked and they were only pickup and takeout they didn't even deliver and that place was mobbed. >> it's kind of what's old is new again because for many years

that was a model because it required less of a footprint you didn't have to have as much square footage, you needed a kitchen and a countertop it seemed like a lot of these restaurants are going towards that chinese takeout trend it went away because people wanted to eat out more now the virus brought the whole thing back full circle. >> exactly and gives you a much smaller don't have to worry about having staff. you don't have to worry about big rental, you can have something smaller. it's much better business model right now. some day we'll all want to go back and dine out again. but at the moment, we just dine outside. >> well, listen, i also kind of want to hear more about this james bond story because i'm a huge oo7 fan i personally think daniel craig is probably one of the two best bonds ever out there this is his last go. would you watch it on streaming? >> you know, i watch everything

on streaming and i was doing that already so, but it just depends on what kind of price tag they would put on it. i wouldn't -- i wouldn't pay 20, $30 to watch it on streaming i would probably just wait >> i think i'm the same way. i didn't spring for the money to watch the mulan on disney plus and wait for that to come out just like this one as well bertha coombs, thank you stocks under siege amid virus concerns we have the moves you'll need to make to navigate all of the upcoming volatilitvolatility as we get closer to election day, you can always watch or listen to us live on the cnbc app. cnbc is back in just a moment as we check out what's happening in times square manhattan nature's bounty unleashes something exciting. say hello to a drug-free way to ease stress. stress comfort, a gummie supplement with lemon balm

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welcome back to "worldwide exchange." as you can see on your screen, futures are pointing to steeper losses as the number of coronavirus cases in the u.s. and overseas continues to surge. we are now implied lower by 325 points on the dow. now, these developments come as investors brace for next week's big election and if that weren't enough, the busiest week of earnings season with big names like microsoft, alphabet, apple, facebook, along with 3m, pfizer, ups, boeing, ford, starbucks and that's just to name a few. for more now i'm joined by courtney gibson, president of loop capital and cnbc contributor. courtney, great to see you here early with us. let's talk through what exactly is the most important thing going for us as a market and an economy into next week's big election and earning season this week >> look, good to see you this morning, dom, bright and early, of course. you know, all of these things are going to affect what happens with our market right now.

in the short-term, i mean, we have no lapse of activity this week from gdp to housing today to earnings, the busiest week as you mentioned, 170 names reporting. tons going on. but i think what's going to end up really driving the volatility this week are those stimulus talks unfortunately. that is what is really going to be the overarching shadow or bright light if we can get through this this week you know, i think it is going to be a stock picker's market for those investors that have the ability to pick up on some dips either off some earnings misses or some of this volatility that's going around, that's where we're going to see folks really shine and investors that have a view on the market can pick up names they like, put them in their back pocket and get through this volatile week and even into next week to be able to hopefully see some bright lights at the end of the tunnel here. >> what's on your shopping list? i'm curious because i love a

deal i like buying goods on sale. what happens if stocks go on sale what types of stocks, what companies are you looking at in case there is maybe a 5, 10% pullback in the overall market >> well, dom, i don't know your personal situation what i can tell you for myself personally that i've been really active in, been a lot of the fin tech names in particular whether we get a second wave of the virus or not, those names are here to stay people talk about valuations and this and that and the other. when you see a square pull back, i'm picking up on those names. when you see places like a jp morgan over the last several weeks you can hate the banks all day long the banks aren't going anywhere. take jp morgan really adapting to what is to come here a little late maybe but adapting to this fin tech market and going after small business with their new endeavor into the fin tech space. i like that move it's showing i'm not just an old

stodgy bank. i'm adjusting to what will be in the future i like starbucks that name got crushed over the last several months here and ultimately i think starbucks is going to win. china opening up the reopening trade. and even if the reopening trade doesn't actually happen, you get to reopen and go through the drive-thru, right, dom, on the way to your golf games i think you pick up on names that you know are solid companies, you know are going to do well, watch the pre-cash flows that we're seeing. if you like financials and maybe you don't like the commercial banks, go after some of the private equity firms go after some of the brookfield asset management names go after black stone there are names in every single sector, dom, if you can find companies that you believe in and management teams that you can get behind for the long-term. >> we've just got a little left in the show, kourtney. you put together a list of

stocks that you like characterized as growth and value. do you favor one over the other? >> i don't i don't. you have to take a barbell approach dom, what you described is value and not from the sense of a style metric but from a value of where can you buy names cheap. find sectors, find companies, stay diversified and you'll be okay for the long-term don't think you can time this market if any of us had a crystal ball, i wouldn't be here talking to you, you would be on the golf course as we talked about on numerous occasions i think find companies you believe in and stick with them buy them on the dip, hold them for the long-term. when you think that you can take a little money off the table, do it this is not a game for the faint of heart let's just put it that way i think you should definitely get into the stock market. we know you have $10 trillion of cash sitting on the sidelines. >> sure. >> there's money behind it you're going to be okay for the long-term. >> all right long-term for sure investing is a good thing. courtney gibson, thank you very

much and thanks for the wakeup call early this morning. we appreciate it >> thanks, dom take care. that does it here on "worldwide exchange. "squawk box" picks up the coverage coming up next. ♪ you can go your own way

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pressure red arrows to start the week as insists weigh rises covid cases here and abroad. a stimulus stalemate in washington the busiest week of earnings season so far and the u.s. election is just eight days away we have it covered and it's october, too. not always a great month for stocks it is the 26th, in fact. it's a monday. year is 2020 "squawk box" begins right now. ♪

♪ good morning, everybody. welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen and andrew ross sorkin. this morning on this monday morning we're checking out the futures. joe mentioned, markets are under pressure this morning. pick your poison on this looking at futures lately tends to be your average chest dow is indicated down by 312 points s&p futures are down by 40 points and the nasdaq is off by 117. you could say this is because of the rising covid cases both here in and in europe you could say it's because of the election firming up trying to