highs. the mayor urging people to stay at home and cancel thanksgiving plans. and some top republicans say the trump administration should stop blocking president-elect biden from getting funding and it is 5:00 a.m. and here is your top 5 at 5:00 closing out a big month. futures higher across the board, it had been one of the best month in years for stocks. and china firing backafter the trump administration banning americans from investing in companies in that country. we're live in beijing with more. baby yoda to the rescue, helping save the day at disney, even as the company blasts california for another crackdown

and lockdown and new details to halt the ipo by the ant group and what stocks are seeing big time buying by their insiders we'll bring them to you, one big biotech you need to hear about it is friday the 13th, but nothing to be afraid of. this is "worldwide exchange" right here on cnbc ♪ i don't care if monday is blue, tuesday is great and wednesday too, thursday i don't care about ♪ happy friday and welcome from wherever in the world you may be watching. i'm broo i'm brian sullivan thanks for joining us. here is how your money and markets look right now stock futures are once again in the green across the board dow futures up 224, nasdaq up 105. the indexes did fall a bit

yesterday, but all on pace for a very solid week and month. the russell 2000 up a stunning 11%. so far november, you dow up 10% and even the nasdaq that has been hit a bit hard is actually up 7% this month coming into this morning the real star though continues to be bitcoin. it is above 16,000 now and up as much as 20% just in the month of november and we're only halfway through but that all pales in comparison to our mystery stock chart on a friday it is the best performing stock in any of the small, mid or large cap indexes. it has doubled this month. do you think you know the name i'll bet you don't we'll show to you a bit later on in the show. but right now, let us go around the world hence the name "worldwide exchange. julianna tatelbaum is live in our london newsroom with how the

european markets are shaping up. good morning >> brian, good morning after the weak session on wall street yesterday, european markets opened on the back foot. so we were trading modestly lower. but sentiment has shifted and now we have green in many markets. we have the french market up about half a percentage point, in spain the market up nearly 1% also some green for german and italian markets. a little bit of red still for uk and swiss markets, but overall positive momentum has been building in the last hour or so. let's take a look at the sectors, but the big theme this week in europe as well as of course in the u.s. has been this question of is it time for investors to shift out of growth into value europe is a notably overweight market for cyclical and value stocks so coming into today, the stoxx 600 up 5%. now this morning, very interesting to see that we're seeing technology rally alongside banks. banks are viewed as one of the

more value oriented parts. technology falling to similar trend of the u.s so european market has had an incredible week, 5% overall, 8% for the french market, 7% for the uk market and 4.6% for the german market. >> you will like this one, i saw a stat from apollo global management yesterday that the total value of all globe am stock markets around the world, everything, is now before $95 trillion for the first time ever that is a lot. >> that is an incredible statistic. >> call me when we get to $100 trillion it is the media, what have you done for us lately all right. won't stop, can't stop, maybe that should be the theme for disney's streaming service

helping to bolster fourth quarter results. bertha coombs has that and more on this friday >> good morning. that's right, disney reporting strong growth for disney plus with more than 73 million subscribers as the company americaed t marked the first year of service. its lost of 20 cents a share was much better than expected along with revenue of $14.7 billion. shares are higher in extended trading. and speaking yesterday, disney ceo said given the success of disney plus, the company will have a big focus on content. >> we also realize that new content adds subscribers it is clear to us that new content adds subscribers so i think that you will see a continued increase in investment in our direct to consumer platforms and that will then fuel some of the growth that christine will talk about at the investor conference that we

expect december 10 >> content is king and content created by folks out there can continue tiktok has been given the green light for now to continue operating in the u.s the commerce department announcing yesterday that it will comply with a preliminary injunction preventing the government from shutting the social media company down. tiktok filed a petition earlier this week seeking clarity from the trump administration on its minority stake sale to are arore and walmart. and we're learning new details about the an rupt scrapping of the ant ipo. xi jinping personally ordered that move. the "journal" says senior government leaders were furious are the criticisms of regulators an and the decision was culmination of years of tense relations

between the two sides. they may be capitalists, but they are very sensitive about criticism still it appears in beijing. back over to you >> jack ma knows all about that as well, kind of forced to divest his stake in ali baba, the company he founded as well bertha coombs, thank you very much let's talk more now about the markets and your money we're joined by jeffrey kleintop, charles schwab chief global strategist. i think that is the perfect segue, because we talk about china, a new administration, the biden administration may be seen as normalizing relations with china. china is a big market, a big story for us from the u.s. equity markets do you see maybe a benefit to our equity markets from any kind of renewed relationship with beijing? >> i think so. i think the most important thing we can look at when it comes to

china is its morns importance a consumers market single day has proven that, incredible number in terms of sales there. but this isn't about a one day thing. gm sells more cars in china than they do in the u.s., coca-cola sells more cases of soda in in an the u.s and china is one of the few that is actually glrowing this year and the priorities of a biden administration with regard to china may be more environmental and labor standards than a trade balance and that means more of a multilateral and slower moving approach than policy by tweet that has been more jarring to the market in recent years >> yeah, certainly we might be leaving all these sort of midnight tweets behind is there a benefit politics aside from more certainty, from understanding maybe where we are rather than getting what made appears to be periodic policy

direction changes from twitter >> certainly and i think that we've got to recognize that there is still strategic conflict between the u.s. and china on a number of different fronts we just see things differently but the biden administration may take a similar tact to what the obama administration did and work on the transpacific partnership. remember this thing that trump pulled out in his first year, that was an attempt to get china to come onboard with a lot of standards around intellectual property, environment and labor standards and get the rest of the world on board with that as well given that we've made a lot of progress, i think that we could see it in the labor front as well and that means that the relationship while still facing some challenges is something that businesses can plan around as a longer tailed outlook and probably one that is more

business friendly. >> i know everybody is focused on georgia, and that matters probably for representation from the georgia runoffs, but dan sullivan, no relation anyway, in alaska winning, joe manchin saying that he will go semi republican kind of takes a lot of the heat from the markets away from the georgia runoffs. but that said, there is uncertainty, yesterday using the word bumpy couple of months. what should we expect from now when it looks like covid will be coming out of it >> well, there is a few things one thing that interesting about elections and important, they are eventually over. and what we've seen in the past at least in '08, 2012 and 2016, is that elections mark the turning point when outflows from stocks came back to inflows from individual investors as pent up demand finally lifted the stock market in a broadway no matter who won. after years of money coming out ahead of '08, ahead of '12, '16

and ahead of this election as well, we saw money suddenly begin to turn around back in 0le'08, it doesn't happn until march. but the market has been led by a broader group of stocks than just the faang stocks in the last couple weeks and that is a good sign. as the money starts to pour in, it may leave more broad advance in the market. >> and what part of the markets look good to you and your team at schwab? >> we like the financial sector. and this is an area that has been unloved for a long time as loan loss provisions appear to be adequate, it may be dividends come back in 2021. and as you talked about beginning of the 5:00 hour, international looks pretty good as well. financials, biggest sector overseas looks attractive to us. and relative earnings xwret

bas growth basis in 2021 so i think broad diversification rather than just the focus of a hand testimony of te handful of tech names this year. >> all right, jeff kleintop, thank you very much. and when we come back, much more on that developing story on the u.s. barring americans from investing in certain chinese companies. euni eunice yoon will have more and plus palantir's first results since going public and jeff told you he likes them, so whatbanks might be good buys anton has specific stocks that he just loves including one pretty surprising name dow futures up 236

making chips the back ben of the inter-web and numbers from the most secretive companies around, just some of the stocks that you need to watch cisco is surging up 7% after hours after report being better than expected first quarter results. the ceo saying demand held up. and he will giant squajoin "squ street." and app materials posting

rising sales and earnings growth and palantir reporting a loss of nearly $900 million in its first quarter as a public company, but that was mostly because of stock based compensation costs related to its direct listing ipo, data analytics and cybersecurity firm touted new contracts with the u.s. army, national institutes of health and one unnamed aerospace customer wofrth $300 million. and now to more of the developing story involving tension between the united states and china the trump administration announcing that it is prohibiting americans from investing in certain chinese firms about says are owned or controlled by the chinese military let's get more new with eunice yoon live in beijing >> thanks. well, the chinese foreign ministry says that the u.s. needs to stop viciously

slandering its military integration and arbitrary investment through investment bans under president trump's order, americans can no longer buy stocks, funds or other financial products in these company, investors have a year to divest any holdings and the order kicks in on january 11 the u.s. argument has been that many investors didn't realon't w what they are buying and this is at a time when beijing is trying to get more wall street money to invest in chinese firms. many are listed in new york, hong kong, or some combination and even companies like hype vision which told us that the u.s. accusation is groundless, the structure of some of these companies is really opaque just one example, avi krichlt, which is an aerospace company, this company builds the fifth

generation fighter, it also invests in 200 companies, 20 of which are listed in shanghai and hong kong. so because it is not very transparent, you know, you could understand the u.s.'s argument that they don't want to see u.s. hone goi money going into a company that does make a fighter jet for the pla. >> fair enough but does all of this matter given the expectation that president-elect joe biden will become president joe biden and is expected to normalize relations with beijing do they account for that in state media that you are seeing overseas >> well, in theory president-elect biden could overturn this eo, so maybe it is something that the chinese wouldn't are have to worry about. but what is interesting, today the chinese docongratulated joe biden and kamala harris for their win in the election.

this is interesting because the chinese have been silent for nearly a week and subject of a lot of speculation, people here thinking that programs the chinese government has been waiting on making an announcement because they are worried that president trump could become a vevery angry and attack china because he hasn't yet conceded and in fact that was in the language of the foreign ministry statement. they added after congratulating biden, at the same time, we understand that the outcome of the u.s. election will be determined in accordance with u.s. laws and procedures and also, what is interesting, that president xi's name has not been brought up. so he is protected >> always a little drama around the news there eunice yoon, thank you very much still on deck, twitter touting its newfound ability apparently to throw the spread

of false information on its platform not everyone is convinced. 5g is going to change everything about the way businesses run. and most important is the ability to transform the smallest of businesses right in our neighborhoods. we created the 5g business impact challenge to give them the tools for them to come back stronger. the things that folks are doing today to survive during the pandemic will help them become more resilient into the future and technology like 5g is whats really going to enable that.

at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. on thursday cnbc hosted its first workforce executive summit, gathering of hr execs from some of the biggest companies. the event kicked off with the focus on the big story with

michael beschloss giving his thoughts on the presidential election >> no state that there has been enough charge of voter fraud that it would tip the scales from joe biden to donald trump this is really a president saying i understand that there is no chance for me to win, yet i'm not going to concede i think that it is theater in terms of donald trump from all reports not being in a very happy mood you know, no one is. but jimmy ckacarter wasn't in 1, yet as soon as he was defeated by ronald reagan, called up regan and said let's have the best transition in american history. perhaps donald trump beings that if he wants to run again in 2024, to be able to say that the election was stolen from me in 2020 >> and if you are interested, you can see more workforce executive council by going to

cnbc.com/workforce-wire. and let's get a look at some of the other headlines frances rivera is here with that >> and we start with president-elect joe biden who has flipped arizona. in the past a chances for a democratic victory in the gop stalwart seen as wide as the grand canyon, but last night nbc called the home of the late john mccain for his friend joe biden. that brings the lead 290 against 217. adding even more pressure for mr. trump to concede tropical storm eta hit the tampa bay area early thursday and one person died after they were electrocuted in a flooded

garage and masters play had to be success pentspended just 25 min action due to inclement weather leading to a three hour weather delay. when the skies cleared, it was a tough day for bryson dechambeau. the u.s. open winner sent the ball all over the course he is currently in the lead at 7 under par as paul casey one of the first players to complete his first round. >> yeah, paul casey with a rather surprising lead, but don't count out dechambeau and his big biceps fran frances, have a great weekend. we've earned it. sleep all weekend and start again on monday. >> you didn't have to bring monday into it, but we'll try to at least >> i just ruined everything. that is what i do. thank you very much. on deck, call it the most profitable tv segment of the week our exclusive look at what

executives are buying the most of their own stock and there are some big names on this week's list you will get it, but only if you keep it here on cnbc dow futures up 271 businesses today are looking to tomorrow. adapting. innovating.

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money. futures there higher once again and we're on pace for one of the best weeks in years for the dow. disney ceo blasting california, the new lockdowns hitting the state and hitting disney as well and one of the biggest sports weekends lands the weeknd, the singer, one of his songs definitely on a top ten for the year it is friday, november 13, ooh, you're watching "worldwide exchange" right here on cnbc ♪ and that's it, that is the song there you go, welcome back by the way, i post songs almost every night on my instagram that i like or i think that you should check out kind of a music head so check it out. maybe songs you never heard of that you might look like that one by the weeknd. all right. here is how the markets and your

weekend look on this news heavy week futures are in the green, indexes fell yesterday, but all on pace for a very solid month russell 2000 up a stunning 11% the dow up 10% and even the nasdaq which has been hit a bit this week is up 7% this month coming into this morning. but who cares about stocks, right? the big star all the kids are talking about it, bitcoin. it is above 16,000 again, now up as much as 20% so far this month. of course they are hoping that bitcoin can get to its highs of 20,000 now time to reveal the mystery chart. the best performing stock in any of the small, mid or large cap indexes this month did you think you know it, did you think you got it i doubt it because it is a new name even to me cooper tan dard hostandard hold

makes things like brake lines. exactly one analyst covers in and shares have more than doubled since the start of the month. just remember, a good lesson, sometimes the biggest money makers aren't the ones that you hear about all day long on cnbc. they are not the ones touted by 20 analysts. they are the under the radar names, and we'll always try to bring them out for you well, after a few weeks on the road, speaking of, it is time to bring back our weekly insider buying segment the companies whose executives are buying the most of their own stock with their own money and this week's edition has some big names. as always, the data comes from insider score.com and we count you down five to one the company with the fifth most insider buying this week, hanes brands 36,000 worth interesting because hanes brands is the worth performing stock in the s&p 500 by a lot

maybe he sees value. the fourth, tupperware, napping up about 787,000 worth of that stock. he has a pretty solid record in terms of timing. done a dunn and brad street, ceo buying 999,000 that stock ipoed back in july. and second most, aon, the chairman buying $1.86 million worth. he has been on the board for 21 years and this is his eighth buy of at least 1 million worth of his own stock. but the most insider buying this week, vertex phrma the director plunging down $3.2 million for 15,000 145ir s million for 15,000 145irhares. it is his first buy of vertex

stock since 2008 and remember, as a whole, these stocks have been outperforming the broader market and this is a segment that you will only see right here on "worldwide exchange" every friday or thursday if i'm off on fridays like next week so tune in next thursday, all of you. let's turn back now to the broader markets. joining us now is steven whiting with city private bank steven, great to have you on that segment, we talk about buying there is $4.5 trillion of global cash still sitting on the sidelines, global markets have kind of gone wild this week. but there is still a ton of money out there. do you and your team still see more gains ahead for ours and the global markets or will the next couple months bring nervousness and uncertainty? >> we see more gains ahead we think that the news that we've seen out of pfizer is not

what you've been seeing in the last year. things like the cocktails and all these sorts of things. we'll see a different world economy particularly as we get more vaccines that have good lowe gis tic logistics and an ability to truly end the pandemic and if you combine it with all the money on the sidelines, with negative real yields, zero yield cash nominal, again, they can get a lot of money in risk assets i think that there will also be a rotation in fact into the particular stocks, the industries that have been most beaten down, it can create i think a little bit of headwind for those that's be have beahave boom >> it is tough, numbers are

tough, thankfully outcomes have gotten a lot better. euro europe, many getting hit hard. austria closing their schools today as well. but we will get out of this. how much do we need to focus on the short term headlines because they are pretty grim versus looking forward to the spring and summer when we'll be vaccinated, the pandemic will have likely run its course and we can hopefully get back to a more normal track. >> equities trade on what is going to happen shortly ahead. they are not a long leading indicator. i think everyone is not going to act just on faith that we'll be out of this. set backs like we had yesterday will be here with us until we see that material change i do think that in the united states, now that we're sustainably above 100,000 new cases per day, we'll face more head winds here, not just in europe i would say though that what we're looking at the data, we are seeing less of a decline in

economic activity associated with higher caseloads. this is really useful data in europe where there has been this big divergence across different companies. the massive amounts of differences in covid for example in france versus germany has not resulted in a marked different economy. and the shutdowns very different than what we saw in march and april. back in april, we had a 98% decline in u.s. auto production. we didn't do that in the great depression or world war ii even socially distant activity was shut was shut down. so i think that it will be a hard few months but there is light at the end of the tunnel >> yeah, important points to note this is very different from march and april. we know a lot more obviously neither you or i are doctors but politicians have said this, these lockdowns won't be like they were before, they will be

shorter, more targeted, not that total sort of two months of literally afraid to leave the home like we had in this area. besides the coronavirus which will eventually be in history hopefully sooner than later, what are some of the macro head winds over the next year or two, is it still strained relationships with china, is it the federal debt, the federal deficit, what are you concerned about? >> look, we think a biden administration is going to less in the headlines when it comes to international relations they have to build an administration, trade policy is going to form over time. the approach to china is going to be put off for a while gathering some coalition members to deal with this particular issue. so this is going to be an environment where international trade is already recovering because of some shifts in c consumption that we've seen around covid, but likely to

recover a lot more so that won't be the worry that it was i think that if you look at the near term, the fact that we have had so much of a rebound from this shutdown period, we've added 3 million restaurant jobs for example, that this can be harder to achieve greater gains over the winter months the fact that we are coming off of a second major economic collapse over the last 12, 13 year, we have a federal debt burden that is over 100% gdp and by 1975, that was cut done to 25% to gdp, but achieved with financial repression, by purposely keeping real interest rates low. so one of the problems here for investors is going to be that they will not get a return on cash or rereturn on safe haven bonds. you take a look at period after the board war 2, it was practically four decades where you made an incremental dollar

in real terms on bonds and cash. so i don't want to say that there is no portfolio value, there are great tie verdiversif benefits at some level, but we have to take a look at the fact that global dividend yields are twice global bond yields now and there are different regions of the world that outside of china and the united states stock markets haven't performed that well >> yeah. well said. we have a long way to go and there is a lot of debt all around the world steven weiting, thank you very much and focusing in on a single stock story, a big name that you know and you might even own, disney shares are on the rise this morning up 4% the company reporting better than expected fourth quarter results with smaller than expected losses at its theme parks and of course all the movie releases which aren't being released because you can't go to the movies one bright spot, it is disney plus streaming service marked

with one year yesterday, happy birthday by the way, racking up nearly 74 million subscribers in that time. far more than they expected. for more now on the results, we're joined by telecom analyst at ubs john, i think that their target was like 60 to 90 million subs over three to five years, correct me if i'm wrong. they hit that mark pretty quickly. a lot of that of course having to do with the pandemic as well. but how impressed are you by those disney plus numbers? >> disney plus is fantastic. like you said, 60 to 90 million by 2024. they did 74 million in their first year so yeah, that has been one of the bright spots for sure. and frankly, not just disney, but i think the whole streaming universe >> but is it making any money? >> i would say it is losing less money than we expected that said, one thing i think

that management made clear is that investments have just begun. this platform will be a global phenomenon, it already is, but to take it to the next level, there will be an increase in investment, you'll see a lot more content on this platform. >> yeah, lose money with every subscriber, but you make it up in volume. good news and bad news as i see it for disney. good news is they have a lot of subscribers, they are highly touting the mandalorian second season coming out, but i would imagine aside from their old catalog, they don't have a lot of new offerings because you haven't been able to film anything new since march where do you think sort of the lineup is going to be in the next 3 to 6 months because consumers care they will drop you like that nowadays >> that's right, there is very low switching costs to the new platforms. unlike cable where you have a

professional installation. with these da data 34r59 platfo you can turn them on and off almost in a day. and i do think that the content creation hiatus we saw from the pandemic, that is still an issue. and you're right, over the next 3 to 6 months, especially as the new market launch is slow, you could see the growth of the product slow even further. >> listen, to be fair, we like to focus on disney plus, it is new, sexy, bright shiny thing. but it is not really materialt the company right now. i mean, espn and the theme park bes, they are material theme parks, all the lockdowns, the ceo slamming the governor of california for sort of the new restrictions as well espn been struggling with layoffs the last couple weeks. how are espn and the theme parks

doing? >> great question. so theme parks actually did a little bit better than we thought. revenues with are down like 60%, we thought they were down 70 so there were more people in the parks than we expected but on the cost side with all the layoffs, they are being very aggressive in managing that side of the business. so the losses were quite a bit better than than we thought. it was only about 1 billion. and espn was actually a bright spot their median net business actually grew on a year over year basis and that was really a function of the rush of spoeturf sports ratings weren't as great as we thought, but there were a lot of them and so advertising was up. but a lot of it has to do with the schedule >> john, disney certainly the streaming will get all the headline, but the theme parks is the bread and butter john, appreciate your time

have a great weekend coming up, we are not quite done with disney yet we'll talk more about baby yoda, can't stand that character, an booze but hopefully not together the top trending stories coming up next. and as we head to break, here are some of your other top headlines. mark zuckerberg defending his company's decision not to suspend steve bannon saying he didn't violate enough of the company's policies last week bannon said that fauci should beheaded. twitter banned him and twitter also says labels and warning messages seem to have cut the spread of the election misinformation by a bit. and instacart reportedly turning to goldman sachs to lead its upcoming ipo, that offering could come as early as next

year valued at a cool $30 billion deliver that futures are delivering up 261 on the dow. our ar're prepared for the future. surprise! we renovated the guest room, so you can live with us. oooh, well... i'm good at my condo. oh. i love her condo. nana throws the best parties. well planned, well invested, well protected. voya. be confident to and through retirement.

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. a baby yoda inspired cocktail and super bowl halftime show maybe to enjoy it rtha coor

of the top trending stories. love it. >> just in time for the new season of thmandalorian, one we tender's baby yoda concoction going viral. a restaurant in northern ireland shared a photo it is topped with olives for eyes and lime wedges for ears. jennifer aniston even shared it on her instagram writing may the force be with us i don't know about the sweets with the olives. but meantime, the super bowl lv halftime show has announced its headliner, the weeknd will be playing the big weekend on sunday february 7. his 2020 album after hours is the most streamed r&b album of all-time and "time" named the weeknd one of the most influential people of 2020 and if you needed vintage

holiday cheer, an auction starts today for the iconic puppets from the christmas special rudolph t red no "rudolph the red-nosed reindeer." a 6 inch reindeer is being offered and an 11 inch santa and they are expected to fetch between $150,000 and $200,000. and even after all these year, you rudolph's nose apparently still lights up. but what about herbie, the elf i love the elf >> yeah, you know, it was hermie, and i only know that because my hair was blond and swoop pi, my ears stick out as we know and i had friends that had a lot of fun calling me hermie around the holidays i think i dressed up as the elf one halloween. >> so this has a little bit of trauma for you >> no, no, it is a great show.

the mad tv remake by the way was i shall say darker but a lot more funny in certain ways by the way, that cocktail while cute thinking seems kind of growth, i agree. >> yeah, the olives don't seem to work for me >> but it is so cute maybe it will get kidnapped and we can spend three seasons going to rescue it bertha coombs, you deserve a cocktail, my friend. have a great weekend thank you very much. all right. on deck, why certain banks, names you may not know and one big name you do, may be great values for you as interest rates are on the rise. ho, ho, ho, we're back right after this

welcome back as stocks have risen, so too have interest rates which has suddenly made people more optimistic on the banking an financial sector joining us now, president and cio from men done capital, anton schutz let's stay macro here, and i don't want to suggest that 0.9% is a good interest rate, but it is better than 0.2% or 0.3%. how happy are you to see this semi normalization on the ten year yield >> well, i expect there is more to go. the real big deal is the vaccine. if you get an economy that goes with all the stimulus that is coming, and obviously there will be a lag, people are getting sicker, but if the vaccine works, people can resume life and see the future and rates will go higher because there is more stimulus coming from everywhere around the world.

and the curve will get steeper and eventually the banks will have a yield curve >> isn't it amazing we're talking about getting to 1% as some point of like high mark i remember when it broke below 5% and we couldn't believe it. does 1% matter for these company, can they make the incremental net interest margin on that? >> well, it matters that it is better people's forecasts have lower margins, lower rates for next year and i think the biggest issue here is the recovery from a credit perspective banks are not getting killed, not losing a ton of money on credit and a vaccine gets people to resume and pay their bills. and we have lessons to be learned. supply chains coming back to the u.s., doesn't matter who the administration is. funding is cheap nobody wants to deal with trying to bring stuff from overseas

right now. whether it is a disease, tariffs. so i think that there will be strong growth in the u.s. and we've also seen from a future lending perspective a lot of depletion of inventory so gdp obviously a record quarter last quarter, pretty strong bounceback. >> are you a buyer of wells far fargo? >> i am. lots of rumors that they are selling different divisions, a lot of talk about massive cost cuts coming up, $10 billion a year so you'll have a liner smaller wells fargo, focus on its core and the earnings power of this company is far greater than what we've seen and i think the industry as a whole, including womens, wi wel have far too much capital going into next year what can they do in dividends.

question mark among the big, but smaller ones are buying stock back >> you always bring us these names that always end up getting bought later who is live oak bank shares and why do you like them so much >> they are the largest position we have in our mutual fund one of the reasons we like them is they are the largest sba lender in the country. that honor used to belong to wells f s fas fargo. they are improving their deposit margin and they have a tremendous position in fintech which is helping the entire industry evolve into being more profitable, better delivery channels cheaper ways to do things. and they are spreading that fintech out to others. so it is a real hybrid but the sba is a big deal, the ppp is a big deal.

maybe new programs will help as well and that is one of the only banks that is up this year and it is up tremendously. >> 121% year to date, a great call anton, we'd expect nothing less from you thank you very much for coming on have a great weekend appreciate it. live oak bank shares, always some new names on "worldwide exchange." hope you had a great day, great week you're just getting started on a friday the 13th. but don't be afraid, "squawk box" is next and futures are up. have a great weekend we'll see you on monday. when you switch to xfinity mobile,

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good morning futures pointing to a big jump at the open. gaining back quite a bit of yesterday's broad decline.

and as we love to point out, the worst day yesterday in november. today is the 13th though we'll show you what is moving right now, another grim record for covid cases as some cities and states ramp up restrictions on businesses and gatherings we'll talk to a restaurant ceo who says the industry is in desperate need of more nbc projecting joe biden won arizona. this is the second friday the 13th of 2020 "squawk box" begins right now. good morning welcome to "squawk box" here on