have one hundred thousand dollars or more of life insurance you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on your screen. coventry direct, redefining insurance. it is 5:00 at cnbc globe yad headquarters guyers looking to get back in the driver's seat. rbc is here to weigh in. president biden cancels his trip to the windy city and instead hunkers there down in d.c. what it means for friday's deadline day

>> janet yellen sounds the alarm over what a missed debt payment would mean and chinese evergrande looking to raise a cool $1.5 million >> and regulators are leaning towards authorization of the pfizer vaccine >> good morning. kicking off your morning with you with stock futures all the indices up, the nasdaq nearly up more than 1%

amid a spike in interest rates that an ongoing stalemate in d.c. yields pulling back standing at the 10-year with brent crude trading at its low let's get to this morning's top stories good morning >> good morning, president biden is canceling his planned trip to chicago choosing to stay in washington in an effort to salvage talks with the $3.5 trillion package. this ongoing stalemate over how to pay the nation's bills after

friday's deadline date something that would cause harm. >> it would be disastrous for the american economy, global financial markets and millions of families and workers whose financial security would be jeopardized by delayed payments. separately, pfizer and beyond tech has issued showings that their vaccine is safe for children even with submission, the wall street journal reports a green light for kids may not come until november at the earliest >> apple's 13 could face longer than delivery times because of a wave of covid.

that disruption could ease in october. despite yesterday's selloff, the tapering u.s. debt limit tons of issues out there s&p up about 1.3%. welcome in dory here >> we are detailing how the month is going in the markets. one set i want to talk to you about. the nasdaq and the s&p are both on pace for the worst month for september 2020 this year, you've seen teeter to

thorring you call this a good slump a lot of people won't see it as a selloff. >> first off, we hadn't had a correction it is the only month that normally looses pressure i'm surprised there hasn't been more if we can get through to september with whatever the loss is and keep it under five i think it will get through a positive for the year.

up about 3% this month up about 20 basis points since then >> what's keeping it up. let's talk interest rates. with the fear of greenspan saying that inflation could remain elevated longer than expected, that puts down pressure on growth stock those create buying opportunity particularly when you get

goodbye offs with big money and prospects. you can get those on the dips. as far as the rest of the s&p staying up in the second rotation of the values in the s&p. >> it would be catastrophic for the markets. this morning, we are seeing the markets up what do you make of it >> that comes up every time the debt limit does. she's got to throw out the scare tactics and then congress's reaction, they increase the debt limit. i'm not too scared about that. >> you are saying it is just a scare tactic i want to talk about stocks you

feel good about. any sectors you would share right now minneapolis minneapolis is up. they've been buying them at relatively low years north rim out of alaska right now, it trades at a range. it is a good bank and has a good deal single digit pe. >> with a market cap below we usually don't talk about those. appreciate the time. by the way, i like the library

background >> embattled chinese property developer evergrande facing a big deadline today the tech tumble closely followed how he's playing the recent drop in some of the sector's most popular names. the special series rolls on. oc big or good home. stk picks for the final months of the year. still ahead when we return

it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities.

welcome back to worldwide exchange the latest on the crisis raising a cool $1.5 billion selling a stake in its own commercial bank scrambles as it raises yet another bond payment today >> they'll use the proceeds of that sale to settle debts with that key lender and selling a stake to a state backed firm two things they say. state firms will be playing

quite a large role the company still owes $47.5 million in interest payments to foreign bond holders today. downgrading everygrande to one notch above default because of one payment it missed last week. the news agency is prodding the government linked firms to get involved and bias ets including a $1.9 billion soccer stadium that seats 100,000 people, supposedly the world's largest the government has remained quiet about any direct support protecting chinese home buyers the first time it mentioned the world real estate in the policy meetings

injecting yet again more liquidity injecting $5.9 million we are seeing signs of stress among other developers another stretched company halted shares because of pending substantial asset isposal. 9 government said it would ramp up the drive of 25 financial institutions or entities this includes a lot of different organizations. stock exchange and different

banks. the point is to try to mitigate the risk one example here is the former chairman of bad debt asset company. that chairman was convicted of corruption and then executed earlier this year. >> the latest out of beijing with that report tech stocks leading the markets lower today. facebook, microsoft and more joining us to make sense of the whole thing. snoun today's big number, 12.1 years. the average age of a car on the u.s. road this year according to

data from ihs market that's 26% older than the average 20 years ago

this is the new world of work. each day looks different than the last. but whatever work becomes... the servicenow platform will make it just, flow. whether it's finding ways to help you serve your customers, orchestrating a safe return to the office... wait. an office? what's an office? or solving a workplace challenge that's yet to come. whatever the new world of work takes your business, the world works with servicenow.

welcome back to worldwide exchange stocks look bing to rebound with the tumble down 2.8% the worst day since march for the month. on pace to snap a three-day wind

streak if it does, it will be the worst monthly performance since september 2020 prevaccine. joining me now director of research mark, thank you for being here amid yesterday's selloff, how are investors exposed to big tech supposed to navigate an environment? >> some more than others priced to sale stocks. those don't necessarily have a lot of earnings or free cash flows but they have a lot of

growth for facebook, google and microsoft, those would fair better >> you said uber is one of your picks. you've got to look at the tech stocks in the pre-market, you see apple, google, facebook. a lot of fears about interest rates rising they've risen quickly up about 20 basis points. why are we seeing the rebound today is there a dip or are these higher >> there is no catalyst today. the trade generally has been by the dip.

the market is putting that same strategy to work you need to be very selective in the stocks not all tech stocks will be the same facebook and google are likely to be consolidation bases. we are looking for specific catalysts. those are ones we prefer and levered to full recovery we are far from that condition >> one other area of tech i want to talk to you about is fintech. you see square and paypal. is that some enthusiasm in part to the payment season as a buy now a pay later? >> i don't directly cover those. you mentioned two names that have been in the market quite

some time. especially a name like paypal. i think the market may well. if you you are going to gravitate towards high quality tech those that will survive in the market and well-known names that will refer to those pe or price to earnings stocks they've got a lot of growth and track record those will snap back to those before the tech names. >> we are going to go analog in your crystal ball. in the 10 year at 105. clearly things will continue to rise what level can they settle at that will make investors more

comfortable really the pace that moves up very little and the move that matters the latest tech trading in new york with the latest. >> good morning to you >> we begin with the top brass back in the hot seat grilling military leaders after yesterday's heated show down in the senate more admitted to a strategic

failure. contradicted president biden who claimed they never advised him to keep 2,500 troops there to prevent the taliban take over. >> the nba's biggest star is urging for vaccine i know i was skepticism but i decided to do it for my family and friends. lebron is vaccinated 90% of players are reportedly vaccinated >> across the country, national coffee day starbucks will fill up a free medium cup all day and dunkin as well many on this shift who don't

caffinate at all >> i'm with you. i don't drink coffee i don't like hot drinks. >> tea, the jitters. we figured it out. >> no caffeine today my first show this week but no caffeine great to see you as always >> our series continues. go big or good home. making some cash in the final months rolling on. that's coming up next. >> if you haven't already followed our podcast check us out on apple podcasts alpha is back today with a stacked lineup of speakers still time to be part of the action register now we'll be right back.

stocks looking to claw back some of the deepest markets. futures up sharply a new warning over the drama overtaking d.c his bank is taking concerns over new debt >> go big or go home continuing.

three under the radar stocks she says can help you make some money. you are watching worldwide exchange here on cnbc. >> welcome back. here is how stock futures are looking. we are seeing selloffs and stocks in the green. nasdaq up half a percent the yield closely watched. we see the 10-year at 105.6 ticking down slightly since then right now up a percent sitting

over the 40,000 mark seeing those interest rates rise now it is time to go worldwide with juliana with a look at early trade there in europe. seeing a little red, little green. >> good morning. in europe, we have green across the board. similar to what you are seeing in the u.s. this morning the stok 6002.2% lower we are seeing investors coming in and buying the dip. in terms of magnitude, the loss is steeper 1% higher for the german market. the cac 40 up. in the uk, ftse up 0.9%.

we seem it be tracking those moves you are seeing state side. breaking down sectors. every sector is trading higher we had oil and gas trading below the flat line that comes in contrast to the trade. that is up about 0.2%. leading the gains is auto and technology clawing back from those steep losses we saw. we'll show you a quick check on bond markets we did see european bond moves higher this morning, similar yields here lower again similar to what we are seeing in u.s. bond markets. back to you. >> you are wearing red european markets in green. i love it. >> savannah, you are wearing

red? i'm seeing red everywhere. >> elon musk says the u.s. government is making a move and while speaking at the code conference it is not possible to destroy crypto but it is possible to slow down its advancement. >> so what should the u.s. government do? we had the u.s. chairman on calling it the wild west of finance. what should they do, if anything >> i would say do nothing? i would say just let it fly. >> musk adding he isn't a massive crypto expert.

while there are some movements, it isn't the second coming of the messiah. >> how a potential default could impact a variety of markets. he does expect lawmakers to find a solution to avoid that potential catastrophic event >> united airlines set to fire workers. they can remain employed if they get vaccinated before the formal termination meetings >> to the latest installment to our continuing go big or go home series making a little cash in q 4. planning an interesting pick this week and in names like new york community bank corp dish network and many more

the ceo and founder of grace capital. thank you for being here. >> how are you, frank? thank you for having me. >> i'll let you go go ahead >> my first pick is z scaler a name i love because it is in the valuable cyber security space. cyber security threats are only getting worst. it is like palo alto or for the net in that it keeps a firewall. think of an office receptionist or security guard. they val date your i.d zscaler takes it to a new level. takes you into a room, locks the door, you stay there what is great about it is that it really stops limits bad

thing things that can be done. revenues are expected to double every couple of years. >> not cheap, interesting you said your second pick according to you, z scaler and octa work together >> they do z scaler, they val date your identity through okta. they are a $37 million market cap in the identity space. very, very important they have a single sign in before, you join a company, you may have a subscription to new york times, bloomberg, various websites

you have a log in for every one. okta gives you one sign in and tells you which ones you can log into if you leave the company, one fell swoop, you can't log in if you have a facebook account and facebook says can i have access to email, you would have to give facebook access to your user name and password now no more. they will give the information without user name and password they are doing the same thing machine to app it is a huge market. u.s. government is getting in on the game i expect this to keep growing.

weigh love it. revenue $1.2 billion again, not cheap but i think you've got to own it >> interesting you keep saying not cheap. their performance over the last week, cyber security is more in demand than ever you look today, okta is down a fraction and z scaler is up big. >> cyber security is not going away chief technology officers know they are going to need these the demand is there. i'm not too concerned about short-term price movements >> i know you have one more pick this is interesting. i'll let you go because we are almost running out of time >> simple story. $28 stock. largest provider of out patient imaging services you can go to a hospital and pay

four times as much or go to radnet with a 75% discount the ceo, i met him smart as a tack. really impressed they lost revenues last year this year, they grew i think you can buy this and put it away. my cheapest stock and one i feel very confident about >> interesting you call it a reopening and recovery play. you think the demand for these services will increase as we go out and about more >> it is, frank. last year with covid we'll keep opening up.

another ai kicker with it. this is again, a small cap name. buy and hold for a long time out source scanning. >> i like meat and potatoes in this vegan world in the debate going at each other about which pick is the best congress looking to get a deal done the debt ceiling fight hangs over head. that potential fallout heading to break with other top stories. netflix is making gaming wishes a reality with the developer of night school studio. developing titles for an

undisclosed amount wells fargo delays a return to the office for workers they say they will start bringing back employees in january and pushing it back to november 1 >> shares of wasrby parker today giving the brand a valuation of $5 billion catch the company's co-ceos on "squawk box. we'll be back in a moment. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones

welcome back to worldwide exchange three stock stories of the morning. first up, sherwin-williams cuts because of shortages of materials. they don't see a cut in supply for the fourth quarter stock two, micron. expects first quarter revenue to come in below estimates. shipments are set to dip in the near term. finally, lucid motors will start deliveries of the luxury sedan starting in the factory in

arizona yesterday. it has 13,000 reservations so far. to the ongoing drama in washington, d.c. with senate democrats reportedly voting as soon as today to try and avoid a government shutdown. friday's deadline to prevent a shut down is fast approaching. president biden is canceling his trip today trillions in new government spending back on track for more on this let's bring in ed mills. thanks for being here. let's talk first off the impact of the debt ceiling not being raised would it really have an impact on our markets >> the most likely scenario is that it gets raised. how and when it gets raised is

the real debate. i suggest an area that democrats would want to bring it close to the x date i do think there is a backup strategy available to them this reconciliation. they don't want to do that they don't necessarily need republican votes republicans are just not filibustering that vote. adding to the authorization. the process is there it is just really messi right now. messy to say the least how crucial will president biden be in all of this. president biden staying in d.c how crucial will that impact be. will people care about the risk in d.c. at least with interest

rates rising >> the answer to care about the risks, absolutely. it gets harder to pass the reconciliation bill if there are concerns and if we do have higher debt costs. in terms of biden's role, he's crucial here in the statements to the press people recognize there is going to be a need for compromise. no one wants to be the first person to cave biden wants the leadership to allow that curve there is also going to be a lot of hard-fought losses. they fought hard before they gave in to the deal. biden gave that leadership saying this is the path forward for our party. his leadership here is paramount

to getting a deal struck on each one of the things. >> one of the things is that reconciliation package where do you see that landing? where do you see that landing and who is happy or upset and where are people going to land on both sides of the aisle on this >> the compromise is knowing who is happy in the $2 to $2.5 billion range is kind of the sweet spot. people have whisperinged, hey, i'd vote for that. you add in the $500 billion package bill so you are in that $2 to $3 trillion range. not everything the democrats want but there are looming

deadlines like the child tax credit that ends in december they think if they don't do this, they are really in a tough position next year they might be in a tough position anyway. so good big and go home. they might do something big is the political calculus a lot of people are making right now. they need to work through some of that right now in d.c >> we have our own segment called go big or go home you hit on something really important on the expiration of the child tax credit that's a couple thousand as year also, we are seeing on friday as a part of the reconciliation

package in d.c., do democrats see this with a chance for a win. that tax credit goes out on the 15th this question of congress go home for the year. that pressure for a deal to get struck this year they feel they have to provide things tangible to the voter in the past but they are not that tangible as they are up 88% in the country providing that boost for spending and really changing the economics for a lot of

households they want to point to that and very specific tangible things to have that balance between if you vote for democrats, this is what you get. if you vote for republicans, this is what they might take away >> still on deck here. stocks looking to recoup losses. could more pain be ahead if rates continue to climb. it is hispanic heritage month. all month. the reporter here with us.

it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next.

comcast business powering possibilities.

welcome back today bringing you unparalleled insight with a stacked lineup of speakers still time to be a part of all of this action at delivering alpha.com. rising bond yields deep in the route of shares. pushing above 1.5% could start tapering in december and raise interest rates some time next year some wonder how it will be able to stand up all its own as soon as they start to tighten as inflation is still on the rise

is there a sense that it could rise to a certain level and calm everybody down in this level which is low or about that rise that is still a concern. the eventual upward trajectory if you look at the recovery, so much has been reported both fiscal and monetary. going forward, if the fed or when the fed begins to take its foot off the gas, the concern is that the recovery will lose significant momentum

that profile is what we saw in that moment and the fed in place. >> isn't that slow down. i know your gdp estimate for q 2 and q 4 this year even in 2022 lower than the first half of 2021 >> absolutely. still noticeably positive trajectory for the economy averaging 6.5 percent growth this was supported on trillions upon trillions not to mention the accommodative policy measures. even seeing a consolidated consumer the growth profile is expected to slow. nevertheless, that headline number is likely to come in about half of what we saw at the

start of the year. we are looking at a range of about 3-4% next year, looking for growth to go further ahead of the 2% pace. it is worth mentioning that the u.s. economy was already losing momentum prior to the pandemic growth was slowing 3% down to 2% going forward, barring that scenario on limited government spending and debt creation the u.s. economy would be able to reach a sustained growth level much beyond what we saw in early 2019, 2020 beyond what we expect the longer term growth rate will be around 1.8% >> lindsay, thank you for that we appreciate it >> right now, markets in the green, we are seeing futures up

across the board bitcoin up a percent and a half. as i mentioned, "squawk box" is coming up next thanyofowahik u r tcng every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers

with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities.

the stock's rebound especially after the nasdaq. talking about rising rates gridlock in washington, supply chain issues a lot of catalyst. jay powell in the hot seat capitol hill grill >> over and over, you have acted to make our banking system less safe and that makes you a

dangerous man to head up the fed and it is why i will oppose your renomination >> to get you ready for the hearing in the house and united airlines preparing to fire nearly 600 workers who refuse to get the vaccine. september 29, 2021. good morning we are going to start with the markets this morning what a day yesterday after the dow plunged. a i drop o