america and mercado libr sze an e-commerce company in latin america so i love that up 123% for the year. >> good stuff. pete, what's a name for me >> i'm going to give you apple they are buying calls. >> josh, what about you? >> crowdstrike probably a bubble but i'm buying it. >> guys. good stuff really enjoyed the conversation today. "the exchange" is now. >> thank you, scott, and hi, everyone i'm kelly evans, and here's what's ahead big beats, small moves well a lackluster reaction to strong earnings so far this season, what it tells us about the market and whether we're in a holding parent president election reading the charts lots of talk about the rotation to value lately but is it a true shift? we'll get some technical answers, and the consumers outlook on the economy getting dimmer why and what that historically means for stocks it's all ahead, but first let's get the state of play in markets this hour. seema mody has that fours. >> good afternoon, kelly

earnings continues to dominate the discussion and let's take a look at where markets stand. the dow is trading lower had the session high was up 22 and the low was down 174 currently down about 148 the s&p 500 you can see just hugging the flatline now down three points on the day however, some pockets of strength within technology twitter trading at its highest level since 2015 alibaba meanwhile on track for its seventh straight month of gains and also notching a fresh all-time high today, up about 3% and take a look at shares of microsoft ahead of its earnings report after the bell. can you see the stock up just about is.5%. the first big tech company to report the other one is coming out on yourself this. let's also take a look at bitcoin switching coins here especially after paypal's new futures allowing u.s. users to buy, set and hold crypt currencies you're seeing bitcoin outperforming its highest level since 2018 now kelly, back to you. >> seema, thank you etch have.

meantime, orders for durable goods increased for a fifth straight time growing by 2% and beating wall street expectations sounds good but the industrial sector shrugging it off and key movers are lower and caterpillar is down after reporting a 52% annual drop in profit in the third quarter. its equipment sales declined across all regions and segments, and the shares down 4% and 3-m beat on top and bottom lines still, shares are down 2% right now. for more on the moves i'm joined by cnbc's markets commentator mike santoli mike, finally, not finally but we continue to get good news out of industrial sector in terms of what's going on with manufacturing here, but what do you think is going on with the stocks >> to some degree that improvement was priced n.industrials had a pretty decent comeback relative to the market in the last few months. third quarter earnings i think in general, the market is essentially saying these are steal numbers meaning that analysts were not rigorous about trying to raise forecasts that

much before we got here so the beats were a little bit baked in, and then you just have the macro environment at the moment, too. i think the big question currently is not so much have we had a boom in stuff, in heavy goods like durable goods yes, we, have and it's ongoing the question is does it carry forward? treasury yields backing off today suggest the macro sent cement a little bit softer when it comes to all of this. within the consumer confidence data a little bit of a downshift in intentions for buying a new car and that's something that's also been a problem in the industrial economy. >> we'll dig into that report in a little bit as well it's interesting because there's a whole handoff between this massive de-stocking that we've seen weave talked about the ports being crazy busy you know, all of that activity and kind of whether that could hand off now to a more sustainable expansion. are people in doubt of that, and with industrials still down 4%, 5% on year, at what point -- we would have to see the data i imagine to turn a lot more positive to start seeing the

rotation and that leadership come back to the fore. >> yeah. that rotation has been, you know, it looks like it's been in train for a while and looks like a couple of false starts i think it's moving in a couple of directions. there's a cyclical tone and it's also driven globally this isn't about the u.s. manufacturing section. caterpillar cited a china demand but those stocks, you know, the valuations sort of reflect some of that anyway the industrial sector of the s&p trades at like 24 times forward earnings already so it's already gotten to that point where it's looking across the valley of these earnings assuming that they are going to spring back pretty hard. >> you know, one other good sign that we had lately was the fact that dow transports are breaking out. classically indicated. first go the transports and then comes, you know, the rest of the blue chips and that sort of thing but there's nothing normal about this recovery, i don't think. how much should we look to the transports to kind of get back into the driver's seat and tell us whether that kind of whole rotation is going to be on

track. >> it's better to have them strong than not, you know, along with semiconductors, for example, doing really well those are the kind of cyclical growth drivers a lot of what tonsports have been telling us that there's an e-commerce element to it there's definitely a moving things around. this country tight piece of it as opposed to industrial goods there is a commodity comeback coming, too, so i think it's a positive it's not a get out of jail free card, you know, for the economy or markets if in fact we do have another little bout ofslowdown whether it's because of a lack of an extra fiscal stimulus or whatever reason, it does seem as if you want to see trade higher, but you can't necessarily bake in, you know, we're going to get what they are indicateding. >> down about a percent or so today. mike, appreciate it as always. thank you, sir, michael santoli talking us through these markets. stocks are taking a big pause after the big selloff seeing the dow and s&p post its

worst day in over a month. are we in a holding pattern until after the election paul, i mean, what do you do with stocks here how much of the weakness that we've seen lately are covid related and how much could be about election uncertainty what do you think? >> yeah, good question covid yes, elections, yes and mike mentioned the macro picture where quite a lot of that "v" has already been priced in, especially when you think about the people buying durable goods. what needs to happen now is that services become a more sustainable driver of this recovery that remains an open question along with the others because of covid. >> and you'd be a seller of the industrials here, paul >> oh, well, we're -- look, we're going to focus rights now on two things. one is that a lot of investors have cash and a lot of our clients still have cash and we still see good opportunities in the tech space and the

tech-related space so i.t., communications services, health care and consumer discretionary. we think those are places we want to be heavily invested in and moving case in slowly on an incremental basis, dollar start covering here. we've seen several false dawns for reflation into may and into june and then again in august and then again in september. there's just so many uncertainties out there right now. our best advice is focus on tech don't be underweight industrials. don't be underweight in materials, you know, for very long what you need to be doing is looking for a chance to get to neutral there and when it is sustainable we think there will be time for investors to get back in. >> andrea, do you have the same point of view, especially on the credit side?

anywhere you see that you see a lot of conviction now or you want to see what happens over the next several weeks and month. >> we like the stay-at-home trade as we saw the selloff yesterday and a pullback, you know, covid still sticking around we'll continue to have that trade on, you know, until covid is really goon you'll continue to have this bumpy ride we also like the triple "b" space in the credit mark we see a lot of value there, especially compared to the a's that saturday of the curve is really tight we like the bbbs not all trade equally but it's a telecom space and that absolutely -- we like the diversity of revenue that they

offer and the global diversionitycation as well. >> yeah. just to make every you cut that some of the retail names in telephone, thing it's too early in travel and leisure. >> paul chryst fer and andrea ramhill. appreciate your time. >> let's turn to rick santelli two-year noteswent up for auction. where are we, rick >> you know, before we even get to that. 54 billion in two-year notes these numbers are getting huge the 257 package this week, is is 62 billion these are record-sized numbers the amount didn't go very well the i give of it -- basically, this auction had a one -- issue market so priced a little bit

ought of the -- but in terms of it being a place hold err for your money everything lass okay -- we did okay on indirects and the directs were the best since june nothing inspiring whether -- if this is standing in place and you a put your two-year in a good sol it credit and not seen a lot of volume term i was a bit surprised that wouldn't auction it and go a little bit better. >> one quick just above the .75% that we've seen in the ten-year what will did the charms senator. >> i think the point will have of of high-yield such been i real think tax policy is going

toppinging in -- if the trump administration wins we'll see the surgo up. >> appreciate it, stir rick santoli are more are -- mda is buying xylinks. shares were lower by 5% while xylinks is falling days after the chip giant confirmed a key cheap lelei, what's going -- maid, it's number. >> what should intel do now? >> thanks very much, kelly, and good afternoon and thanks for having me. >> i think intel from their side, obviously a & d making a move towards xilinks and being

very careful with what they have done with their acquisitions, i think there's -- there's chips being moved around the table here, and i think intel really needs to decide, a, are they going to continue to manufacture their own silicone and how much, and, b, really double down on investments to give their manufacturing fixed because i'm of the belief that intel is first and foremost of the manufacturing company and signs to campaign with people. i don't think it seemed as the -- the question is were many up. >> waad opinion 0 in -- you should so who is going fog do this they have much big sojo realize

is it to use that approach they are probably thinking third now. >> the stock movement over the last couple of years would indicate that they are already thinking twice i want to look at it a little bit more for our a 'em designs combines the less company to be essentially 20 billion in revenue and a 30% operating margin business that i think the ceo reiterate that had they think they can grow this combined business at 20% a year, and all of those businesses that they would grow is things they were completely battle with in retail for this is a big.

>> it's remarkable what lisa sue has done i think he's been there 20 there. in terms of the ranks of great ceos, he's got to be at the tippy top right now. >> no. i would certainly agree. i have the out most respect for lisa under her leadership this company has gone from 2 billion in market cap with $2.5 billion in net debt so now approaching the 100 billion market cap and have grown revenue 25% a year and gross profit by 35% a year and operating profit by 125% a year those are over the last five years, and you can tell by the deepening of the strategic partnerships the big companies like amazon and microsoft and all the pc revenue the pc revenue that they print today in their results was up over 100% year over year in notebooks. obviously the market is strong but that's a position that intel

has held for a very long time and i think the technical leadership that others and lisa have demonstrated. you don't win that share off of intel easily and they have had to struggle their way up and it's all because of leadership >> yeah. matt, thanks for joining me today. i know you're sticking with amd, but your thoughts and those numbers on kind of what she's accomplished are just amazing, so we appreciate it. thank you, sir matt ramsey, thank you for your time. let's turn now to the number of covid cases continuing to rise across the country. the timing of a vaccine is becoming more and more important, and there's been a lot of news on that front, not all positive over the past 48 hours. there's also a lot of speculation over what's going on with current vaccine front-runner pfizer. meg tirrell just spoke with pfizer's ceo and she's got more developments for us. meg? >> reporter: hey, kelly, there was a hope prapz when pfizer announced its earnings results this morning it may announce some data from its phase three trial on its covid-19 vaccine.

that's not case and there's some disappointment but i did speak with the ceo of pfizer to get some clarity on the kinds of timelines they are looking at. he's been saying end of october for months essentially as when they could get a sense of whether their vaccine works. now we understand that they haven't yet hit a first interim look at the data essentially when they need a certain number of infections for their trial in the independent monitoring committee to look in and see is the vaccine working really well, not at all or should we just keep going they haven't hit that point yet. he did say they expect to hit that point soon and after that it would take about a week for them to do the analysis and have the information ready to report out to the public, so based on that math we're talking about after the election that's a week from today and they haven't hit that point yet so we're talking about after the election potentially for them to communicate these results, and they will only communicate the results if they are conclusive, either really good or really bad. if it's just so-so they will keep going and they probably won't communicate anything about

the trial to us. all that have said they are still on the same timeline for potentially filing for an emergency use authorization because that will be based both on the efficacy of the vaccine and also on two months of safety follow-up which they don't anticipate getting until the end of november, so that's what we're looking at for pfizer. now, of course, there's also headlines today about the potential immunity to covid-19 based on a study in the uk of 365,000 people done by imperial college looking at antibody presence over time what they found was that it appeared to wane in the study, so there's a lot of questions about what does this mean for our immunity to this virus, and basically it's just a big question mark right now. this virus has not been around for very long so we just don't know how long our immunity lasts but virologists point out we have other ways of having immunity to viruses than just having antibodies stick around for a long time so more question marks. kelly, back over to you. >> yeah. america on the pfizer issue, we spoke with a analyst yesterday

who thinks that their silence is bad but another thinks it's a good sign. there's no consensus on what this is telling us and at the same time like you mentioned now people are wondering what are the other options for immunity, so to speak, other than these vaccines we've been counting on? >> yeah. i mean, it's certainly hoped that vaccines would illicit a stronger immune response and stronger immunity obviously and longer lasting, but there's also the possibility that these will have to be annual vaccines that we'll take frequently because our immunity neewears off. this is just something that takes time yeah there's a lot of back and forth about what this timing means for pfizer but it's just impossible to guess until we see the data. >> yeah, and for now we wait meg, is thank you so much.

meg tirrell with the latest updates for us. the gap is widening between consumers current and future expectations about the economy how could that impact the holiday retail season, and what does it typically mean for stocks we'll explore that coming up. plus, should you chuck big tech or should you start buying more cyclically driven stocks. more on that coming up on "the exchange." ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa sofi made it so easy to pay off my student loan debt. they were able to give me a personal loan

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xfinity makes moving easy. go online to transfer your services in about a minute. get started today. welcome back to "the exchange." the consumer confidence dip has been reported in october as covid cases rise and expectations for the future dimmed even though outlooks on future of businesses still remains good steve, how big of a setback was this >> not a big one, kelly. remember, we had a big step up this month this one was just a few tenths off so call it a flat index, but what did change are the expectations for the future versus the present among consumers, and both of those go into the index people are a little nervous about what they are hearing with the covid virus.

they are learning that it's not going to go away any time soon, and they are not getting the stimulus bill out of congress and so you're not going to get more ppp loans you're not going to get more stimulus checks any time soon, so they are starting to get a little nervous here because that means that their jobs might be at risk as companies might have to deal with layoffs you see some nervousness here among consumers. on the flip side, the conference board ceo confidence index, you know, you always juxtapose consumers with the ceos. the ceos confidence index spiked so you say, well, why is that going? they are finally feeling like they have got a handle on this thing, that they have got some certainty as to where the virus is going it the doesn't look like it's getting worse. it does look like business is rebounding with and opening up again. 70% of ceos said that current economic conditions had improved you do see a difference here one issue is what does this mean for the holidays, and if consumers are a little nervous about this, you know, it could

mean not a great holiday season even though the amazon day was huge, you know, the prime day, and, of course, all the other retailers that participated. that was a huge event so there is money out there the question is whether consumers will part with it if they are feeling nervous about their jobs >> yeah. that's a great point i think the connection between the two surveys is the labor mark again, even consumers are pretty optimistic about jobs being more plentiful to find. that said, the expectation index, that's the leading indicator, that's the one that the market watches they don't like to see this kind of fullback, so, you know, i guess in there as well which is something that mike santoli referenced a few moments ago was the pullback in their plans for buying cars, for instance, an area that had been really strong had a does that tell you >> yeah, it's interesting because if -- it pulled back both on the used car market and the new car market, and it was a drop-off it pulled pack in capital goods

like appliances and those kinds of things. housing expegsations were relatively sable so it does show that consumers are heading exif i case people are saying they are going to take vacations and how are they going to take their vacations? in their cars so it's interesting but i think it all comes together to say consumers are really nervous which puts a big question on the holidays it. in between now and then there's a little thing called the election a consumer confidence above 100 points suggests it's above100 points but the number is 100.9 and it's just barely above 100 so what does that mean you're not seeing this great overwhelming surge here, you know, that says that -- that the incumbent is in great shape.

the final thing i'll say on that is that there were, if you look dwrooe graphically, there were very large declines in the consumer confidence index in the battleground states especially ohio, pennsylvania and florida, and that's not good for re-election because those states are the drivers, right. >> yeah. we appreciate the granularity and that's interesting on the index overall. 100.9. it's as tight as this race appears to be giving us no more kind of clarity on that front than anything else steve, thanks so much. always highlight the most important tidbits for us still coming up, the proof is in the charts we'll get a technical take on recent rotation to value and ask if the move is just a temporary shift. and it's the biggest i'mover all time the biggest ipo ever, and investors can't get enough of it we've live in beijing with the details of a massive industry.

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welcome back to why the the exchange." let's check on markets half past the hour dow down 77 points but now positive on the s&p by three points nasdaq higher by 75 right now so a nice .75% gain more on yesterday's broad-based selloff. consumer discretionary

technology obviously utilities up there as well today. meanwhile, the laggards, industrials and financials so it definitely has a rotation pause feel to it still today. in terms of the movers, shares of harley-davidson are sharply higher after a big beat on the top and bottom line and their profit improved from a year ago as they continue the turnaround effort. the shares of harley are up 25% today. meanwhile the online education company is lower and raising its guidance but analysts said there were high expectations going into earnings. the stock has more than doubled and it's down 9% today shares ofity any's are higher. tiffany's and lbmh could be close to a revised take overdeal valued at $130 a share for tiffany. it's up 9% today. chinese tech giant ant group is set to be the biggest ipo and demand has been so massive that

the company is close considering its order book in hong kong a day earlier than expected. more from beijing. eunice yoon joins us live. >> reporter: one day closer to source of the matter the ipo is oversubscribed. they say that the book close for institutional investors in hong kong is going to be moved up to wednesday instead of thursday. retail investors though can still subscribe until friday, and subscribe they are everyone here is so excited about this ipo up investors joked with me that like ants, the demand for the ipo is everywhere, so brokerages in hong kong have been giving a lot of leverage to investors there. in fact, small time investors have been buying stock with rp -- i'm herring that milledmen

are getting 10% on trades in the first five days it of listing and then the lucky will numbers around this ipo are just feeding the frenzy 688 is a homophone in chinese for smoothly make money, and as can you seat numbers are all over the stat codes as well as the price, and so investors are being told now by their bankers that the listing is going to take place on november 5th kelly? >> eunice, we've seen a few of the chinese kind of -- i don't want to call it stock bubbles, but big market runoffs that come in that the government trirds to change course and quash down what are you hearing at this point? >> i'm hearing that the regulators are concerned on the one hand you have, beijing, making the point of

encourage rpg the dress and to also rally as national pride a home-grown plant on the other hand, there's been announcements, and there 50s a new set of rules that come into play on they have 1st and a lot of is a reminder to the investors in china that the investments can be dangerous there are risksing >> there are also need to get -- >> let's turn to sue herraa for our cnbc news update. the area around the eiffel tower was preferably evacuated after a bag filled with ammunition was found the evacuation of the park near the eiffel tower is now over, but police are continuing to search the area around the arc de triomphe following a separate bomb threat incident earlier

this morning. italy's coronavirus outbrink continues to grow with another 22,000 cases, and is marking a new level total case case and they have recorded their highest death toll now since maid may. the. >> with the erection one week out advocating oekts are advertising absentee voters can deliver their ballots off. you are up to date now back to you. >> thing you very much

the there's big beat for big earnings expectations and why is that and what is it telling us about the markets still ahead.

welcome back to "the exchange." cnbc crunched the numbers and of the s&p 500 companies that have reported quarterly results so far earnings are clocking in 16% above estimates on average, but despite the beats, this could be the fifth time in four years that the s&p drifts lower during earnings season, according to deutsche bank. my next guest says that puts the burden of proof on the pauls with me is paul hick he, koer founder of the spoke investment group. so good to see you. >> hey, kelly. >> do you think expectations were really that high, or were they too low i'm confused sort me how the here. >> yeah, depends what your reference point is, but coming into earnings season, what we saw is we saw the pace of positive revisions for negative revisions. the spread was one of the

highest we've ever seen heading into any earnings season and what you typically see when you have a high expectation or increase in the number of companies where analysts are raising the guidance it sets things um and what we've seige in this earnings, even with higher guidance, they haven't gone strong enough to receive the high expectations. i think we have all these factors coming into the market all at one time, and i think earnings season is one of the major ones here that is impacting the market you could say it's covid or the lack of a stimulus, but i don't think it's much of a surprise that the peak of the s&p 500 off the september real was on october 12th, and that was the day before the big banks kicked off earnings season so there's been a bit of a sell and it's

hard to dismiss that. >> grigory yavlinsky, fair enough we were talking with mike santoli about the rotation into industrials and transports and how that continues to have a false start feel to it are you lightning up big tech and looking to more cyclically orient to parts of the market? >> yeah. beginning in late june and heading into the last earnings season we were getting of the view that we wanted to play broad in and out of the real and we wanted to see reopening schools doing better it was a little bit early, but i think that's the -- the track we want to take here, and if you look just in this most recent selloff, what's been different in this selloff with just about every other sell yeah that we've seen is small caps are holding back in -- i think that that's

something top watch -- just look at the economic data we've seen a momentum slowdown in economic data with you it's still -- judgment going back to consumer confidence,ig or near to its coste code of highs and it's come off a torrid space we think. >> and i want to mention three names that you like for that reason berkshires and also chewy because that's a highly valued stock and brp. this is about off-roaders? >> yeah. so what people want to do is they want to be outside and they want to be recreation outdoors that's what people are looking

for. brp, they make water -- water vehicles they make off-road vehicles and they make the cannon vehicles. they are also in big smells and that's what people are looking for this year and lord at that an earnings triple play was reported back in late august and the key is they don't report earnings until late november and what he within the-to-do the hasn't boston han to sent hoch on the neal that. >> and brp is d 000.

>> jack dorsey's testimony for tomorrow is out. >> i've obtained a cope of the written statement that he will provide to lawmakers tomorrow before the senate commerce commit, and in it he warns that weakening those liability protections known at section 230 could remove critical speech from the internet. he states that eroding are the foundation of section 230 could collapse how we communicate on the internet leaving only a small number of giant and well-funded technology companies. he also warned that weakening procould back fire and thereby releasing huff content twitter can build twist between the company and users including ensuring greater transparency and procedural fairness and

protecting the privacy of its users. he goes on to urge lawmakers to thousandful n and restrain in -- thinking that this could encompanies that have large market share the ceos of facebook and others and we'll see if they actually hear what lawmakers have to say tomorrows. >> ylan, it's interesting as well because he's making this pitch to congress, but the fcc could also change the way that section 230 is interpreted as ajet pei has warned he might do, so perhaps part of the message to congress is if you don't want that outcome, codify something into law that you might prefer. >> so the trump has -- there are

bills that are being in 230 and going after it from a regulatory perspective as well they are upset about what they claim is comfort pitch buys on these platforms. >> twitter up 4.5% and facebook up 2.5% today. jr. lan knewi, with a lack at tomorrow's stock that's all coming up next on "the connection.

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chief market technician at encinet. we can see all the uncertainty that in particular we might face. >> looking at the market it's easy toe say that that's up a lot. the there's been a series of breakouts. if you look at the chart there we see those extensions have gotten longler and the price ranges within the range is now kidder, and the last high -- if that happens i'll provide a good foundation to take advantage of the post-election market that has positive seasonality in november and december, even in an election year. >> got it. so you're looking at the charts noting those patterns but also saying that seasonally this time of year, election or no election, tends to be pretty strong let me turn and ask you about something that's going on within the market right now, the big

debate over to rotate, choose your term, rotate to value or to cyclicals and transports and industrials, you know. bottom line as a -- what are you seeing >> we've had a change of leadership throughout the whole chart. we've had the large cap group and basically this is looking at factors other than technology, so when that chart is picking up, value and other areas are down, you have to acknowledge it but my count, there's 17 different shifts over 32 weeks since the march low. that shows you things happened to be doing well and other things that legal you that think -- look, it's ban battle

>> good it so it's better to bet on et whole market maybe that's the message there thank you you so much. frank larry walking through the charts placing very different bets on ka seen recoveries ♪ ♪ ♪ this was the theater i came to quite often. ♪ the support we've had over the last few months has been amazing. i have a soft spot for local places. it's not just a work environment. everyone here is family.

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welcome back. also las vegas sands may be looking to move its footprints in vegas. >> a brand new casino opening its doors amid a pandemic. but the owners of the new circa are confident their brand new downtown property will be a draw, a three-story sports book, they say the biggest in the world, stadium pool, it's new twist on the vegas school party focusing on sports with outdoor screens, climate control year round. still rising covid concerns

around the country concerning. >> we are worried about what transpired in the last seven days but we have to stay ahead it have and adapt to the changes. >> derek stevens tells me all the water cooler talk in town today, though, is about las vegas sands potentially selling off its property, the venetian the company confirmed early skugs but say nothing has been finalized. sands gets more than 90% of its profits from its property in singapore. it's a lot of money in a town with stiff competition and struggling business. any buyer likely would be taking a long view here, kelly, which perhaps means private equity in conjunction with a gaming rate but sands won't say. >> contessa, it's also interesting to me sands would offload those at this time it suggests desperation, right why would you sell an asset

whose value is diminished at the worst possible time to sell it i don't know what that maybe tells us about what's going on at the company you mentioned private equity any other obvious players who would be eyeing these assets >> it could be anybody for whom the real attraction is cheap money. you can get cash right now to do a big deal like this and the cost is relatively inexpebsikxne resorts world is going to open up here as well. you have to wonder about tax changes coming, if there's a change in leadership in washington, d.c. don't forget those all-important chinese gamblers are not in las vegas right now. if they come back is a big question the thing that sand has is all of this convention and business space and they say they can't get back to where they were until convention and business returns. sheldon adelson is bullish on

it >> contessa, we appreciate it. thank you for bringing us that double update today on the prospects of las vegas contessa brewer with the latest for us >> let's talk online shopping. shares of shopify are jumping after they say they will partner with tiktok to help its million-plus merchant more easily advertise on the platform it will sell product in the form of shopable video ads where tiktok users can click on the ad to buy the product they will collaborate to try new commerce features over the copping monthco coming months. shopify shares are up 3.4% before we go, let's do a quick look at markets. look at the faang naimes right now. twitter up 5%s are facebook up

2.5%, all of these names near ses hig session highs. coincidence or not, the shares are shrugging it off wheel have we'll have a whole lot more on "power lunch." microsoft reports earnings after the bell today we'll get you the key numbers to watch. i'll join tyler mathisen after this quick bakre ♪ ♪ ♪ ♪ ♪

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good afternoon, everybody. glad you could join us on this tuesday. election one week away stocks are mixed after yesterday's big drop as earnings season brings with it more questions than answers a flurry of companies are reporting but skipping the guidance we've got those details. plus eli lilly sinking after it says it will end its coronavirus drug trial for pairs while pfizer says its vaccine won't be available before the election.