it is 5:00 a.m. at cnbc global headquarters. your top five at 5:00. breaking overnight, lawmakers in the senate reach a deal to awe void a government shutdown at midnight tonight this as the house passes its own bill to suspend the debt ceiling more than likely dead on arrival at the senate. and regulatories fears in china bubble up as evergrande misses another payment facebook under fire over the instagram product and the

negative impact it has on teen mental health. it's lift off for shares of virgin galactic. it is thursday, september 30, 2021 you're watching "worldwide exchange" right here on cnbc good morning i'm frank holland in for brian sullivan. kicking off your thursday morning with stock futures really popping across the board. we're seeing green across the board. all three looking like they're going to open up half a percent higher the dow 200 points higher, at least right now, of course that can always change. this comes after mostly positive sessions for stocks yesterday with the exception of the nasdaq saw its fourth down day in a row. the index down 3.5% since monday and on pace for the worst week since february for the month we're talking

about an almost 5% loss for its worst month since september of 2020 you're seeing the lines here bonds, continue to watch the yield on the ten year, this morning right now we see it continues to be above 1.5% that seems to be a key level right now at 1.524, always watching that, especially the impact on tech commodities, natural gas the big story getting hammered yesterday still on pace for the best quarter since 2005 50% increase in the last three months so big moves in the natural gas space. let's look at asia and europe julianna tatelbaum is standing by in our london news room good morning >> good morning. asian markets seem to have taken a cue from the session state side yesterday so resilient moves overnight.

the shanghai moving about 9% higher, even after disappointing information from china also investigators shrugging off the news out of evergrande missing another debt repayment deadline but investors taking that in stride, the hang sang down about 4%. nikkei down about 4% as well turning to europe, we are seeing the gains continue green across the board for european majors this morning led by the swiss market about 0.8% higher. after a strong day yesterday with european markets rebounding about 0.6%, breaking a three-day losing streak. so more signs of stabilization coming through from a sector perspective, hopefully we can show you the split from sectors we have nearly every sector trading higher

utilities down about .25%. the uk, a few more small energy suppliers going out of business amid the spike in wholesale gas prices we've seen. basic resources out in front, up 1.7% so shrugging off disappointing data from china. >> back home the senate reaching a deal to avoid a government shutdown on friday bertha coops is here with that and many more stop stories good morning, bertha. >> good morning. senate majority leader chuck schumer announcing the deal on the senate floor late yesterday that averts a government shutdown, which would have taken place at midnight tonight. the continuing resolution will keep the government open through december 3rd of this year. the measure does not include the debt limit increase. the bill now heads to the house and then the president's desk. now action in the senate coming after the house voted to

suspend the debt ceiling along party lines however it's not clear whether republicans will allow the measure to pass in the senate democrats need to have 60 votes in order to pass that legislation, in order to prevent the nation from defaulting on the debt with that out of the way for now, house speaker nancy pelosi says she's planning to bring the infrastructure bill to the floor today. and a pair of upcoming i.p.o.s to tell you about. it's lifetime telling investors it plans to sell about 46 million shares between 18 and $21 apiece in a public market debut on the new york stock exchange under the ticker lth. the company's valuation could jump to $4.1 billion the company plans to price on october 6th and start trading the next day meantime, shopping mall staple claire's is filing to go public despite losses in the most recent quarter.

the accessory selling, ear piercing retailer said it identified opportunities for faster growth. the company filed for bankruptcy back in 2018 after being saddled with nearly $2 billion in debt, it's been privately held since 2008 frank, that is one of those places that young girls love to go. >> i've seen them a million times. i know they sell jewelry, you can get your ears pierced. i'm more excited about lifetime i.p.o., i'm a fan of their gyms. it's odd they're going public because you think the gym business may be going away but i love their gyms, they're so nice. >> i think a lot of people like the idea of going out and being more social when they work out if you're going to build muscle, you want to flex them. >> absolutely. thank you. turning our attention back to the broader markets your next guest says then events

of the past few weeks have proven investors and traders are playing a big game of chicken with no one wanting to be the first to step out of the way let's welcome in malcolm good morning. >> good morning. >> you say congress is the biggest risk senate republicans saying the vote for the debt ceiling is dead on arrival. then this morning we see futures up is this people did buying the dip or another reason for futures being up >> it's mostly nobody wants to be the first one to say good-bye no one wants to be the first to say i've had enough, this is a wild ride i'm not willing to take the ride any further. but what i would say is, if you're a retiree or pre-retiree who's relying on your investments, this is probably a good offering.

this market showed you, as you finished painting the picture, it is going to be a bumpy ride to the end of the year because of congress and the infighting with the democrats and everyone else, it looks like it's painting the picture we're in for swings so it's not a bad time to take a few chips off the table, the bird in the hand, and as jim kramer likes to say, no one went broke taking a profit. >> rates hit up to 1.56% on the ten year -- excuse me, yields hit 1.56%, easing a little bit off of that, 1.25 right now, you cite that as a factor that created some of the dips in the market i got to ask you, what's going to be a catalyst for the markets to turn around we're coming off a bad september, the last day of the month, do you see anything in the future, at least the near term, that's going to make it a better october

>> much of the infrastructure bill being batted around, the soft infrastructure, the 3.5 trillion that's being batted around, i think that's why we could see some of the dips we've seen in the last couple weeks. if it looks like that bill is really going to pass as is and not going to be significant, that could actually create a bit of a catalyst toward the end of the year because there's a lot of spending in there benefitting small and mid caps especially. but if you consider the fact as we got done talking about, there's so much enthusiasm in the markets and still a lot of people proving that they have fire power left after running up gamestop and amc and everything else, that everyone wanted to say the retail trade is done, folks have proven they have fire power left to deploy there's enough there with the infrastructure bill making its way through that could push a couple more percentage points before the end of the year for sure. >> i want to get to one of your

stock picks, love sack, i didn't know this company was public. >> the big thing around love sack is they appeal to millennials, they make modular furniture that's easy to install, shows up in cute boxes at your house and it has good brand recognition and strong hold on millennials and younger buyers if you couple it with the fact the buy now, pay later craze has made it so much easier to bring these things home, the big ticket items, bring them home with next to 0%s interest the next three or four years, that could be a very good way to play the housing trend that's happening with a bunch of people because of the pandemic and otherwise jumping into these stocks that are related to new housing. >> malcolm, we appreciate the insight, thanks for being here when we come back, one of

the world's largest auto makers looks to jump into the business of electric vehicle takeoff and landing. plus facebook's global head of security heads to capitol hill amid allegations that instagram is harmful to teens that use it. and later, opportunities intech we break down the stocks that analysts are calling a screaming good-bye we break it down ahead stay with us 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.

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jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today.

welcome back known globally for its smartly priced and long lasting sedans honda is getting its feet wet in electric vehicles. phil lebo joins us with more. >> we're talking about electric vertical takeoff and landing aircraft if you say honda in the aircraft g game, don't be surprised here's a rendering of what the hon a evtol is going to look like or expect it to look like they're designing it for short trips in urban areas when they build it, it's unclear when they expect it to go into service, most of the newer projects are targeting 2024, 2025 look at the other ones already in the development phase and expected to m come to market over the next couple of years,

talking about jobe, archer, lillian, i counted 12 companies working on evtols right now, targeting 2024, 2025 but they have to go through regulatory hurdles around the world we're showing you the stocks since they started trading you can go back further for joby, not a lot of action. curious to see what these guys do the next couple of years. shares of honda have not said exactly when the evtol they are working on will go into service but they have delivered more than 170 honda jets which they first started working on more than 15 years ago, the first delivery starting in 2014, i believe. and they are recognized around the world as a short haul aircraft jet that people enjoy in the upper class enjoy buying

for, whether it's themselves or maybe a small business, wouldn't call it a business aircraft so much as a personal jet, if you will but they're quite successful in that area and continue to grow there and now they want to do it in the electrical vertical and takeoff area. >> if i had the money for a personal jet i would enjoy it no matter what. but honda obviously has tremendous production capabilities but the question is are they making a smart move given how much time and money they're spending developing electric cars and trucks >> that's a great question when it comes to electric cars and trucks, honda is not considered a leader. they are catching up, so to speak. at least in terms of the vehicles you and i see, and those offered to us. they don't have an electric vehicle on the market and won't have one for a couple of years here so you have to spend money to catch up in that market and then you have the development

but they've done this over the years, frank, where they have worked on projects on the side and people have said, is that really the smartest thing to do? i remember when we were covering the development of the honda jet, people are like why are you making a jet this is not a smart idea but that has been a successful market from them they're expecting the same thing from evtols, all be it we won't see any reward for honda until 2024, 2025 at the earliest. thanks for the insight it's go big or go home with richard sapperstein, why he's going all in on big tech for the fourth quarter we'll explain.

welcome back amid growing criticism of facebook's instagram and its impact on teen mental health, the global head of safety heads to capitol hill to testify and defend the company's practices most of the allegations brought to life by "the washington journal" using facebook's own data 32% of teen girls say when they felt bad about their bodies, instagram made them feel worse teens blame instagram for increasing in anxiety and depression and amid teens who reported suicidal thoughts, they traced

those thoughts back to instagram. joining me now is andrew schabelski, thank you for being here. >> thanks for having me on. >> i know you're not under the thought of a smoking gun, this is more exploratory, hard to explain the data there when 13% of girls in the uk and 6% of american teen girls had suicidal thoughts after using instagram how do you get around that when testifying in front of a bunch of senators? >> i'm happy to say i'm not. but this is facebook playing catch up to what we in the academic community have been talking about for more than half a decade we know young people live, breathe, eiat and sleep on and off line in a way this is basic, diligent research, that i think they would be deficit if they hadn't been doing

and i'm just really disappointed that it's only coming to light now, there isn't a smoking gun here but i think it's really disappointing that it took an expose to get facebook on the same page as many scientists like myself. >> i agree with you, no smoking gun but it doesn't look good those numbers alone, 13% in the uk, 6% here in the u.s statistically may be low, but just the real world impact of that is huge. >> yeah. >> i have to ask you one question, devil's advocate don't we know that social media isn't great for us, is not great? are parents a little bit responsible? are parents on the hook for some of this in your mind >> i'm also a parent but i can say that i think that we as a society are on the hook for this again, there's not much of a barrier between online and offline life it's true. we have many opinions about how things like twitter, facebook and instagram impact us.

but the difference in the people that believe that and whether it causes harm is an important distinction if we want to take steps to make online space safer we need to know what's going on so it would be like trying to study nutrition and asking people if a specific food made them feel bad, that doesn't lead to good dietary advice. >> but some food makes us feel good, like cake. i'd love carrot cake right now but that's not good for me. >> right we have a section on health and exercise these studies are done behind closed doors >> i want to ask -- >> go ahead. >> i don't want to cut you off, but i want to get to an important point. the stocks are judged by the growth of the users, levels of engagement will any of this, the senate testimony, the data that looks damming, i don't have all of it,

but what we read it looks damming, do you see that impacting the behavior of teens on the site at all or the way that parents monitor their interaction? >> i would say the very fact there are question marks here, mean and the science that the verdict isn't inwith the science, probably means there's a lot of down side risk that's not priced in to how we think about these companies and their value. i think as a scientist and as a parent, not as a business specialist, that if we get on top of this with again open and transparent science it'll make it up much more clear what the risks are, both if you're a user or investor. >> we have to get out of here, but a quick question, yes or no, are you going to let your kids stay on social media after this? >> it doesn't change my mind thankfully they're younger i'll let them stay on their nintendo switch. >> safer platform according to this data. thank you very much. we appreciate the insight. sensitive subject there. >> any time. let's turn our attention to the other headlines outside of

the business world francis rivera is in new york with the latest. >> pop star britney spears scores a legal victory in court, she's one step closer to freeing herself after a judge ruled to suspend her father from her conservatorship. since 2008 her father has had control over every aspect of her life the elder spears maintained that everything he did was for his daughter's safety and well being. there is another hearing to attempt to fully end her conservatorship on november 12th one of the most active val kay owes on earth is erupting on hawaii's bigisland thankfully it's not near homes and is entirely contained within the national park. that same area erupted last december and continued until may.

it has been over 20 years since you were entertained by g gladiator and there may be more to come. a sequel to the film is being written right now and that it will be good to go, once he wraps up production of a movie on napopian. those are your headlines today. >> i was a fan of gladiator. i don't think you'll come up with a better quote than are you entertained. it's hard to get a godfather 2 situation out of gladiator. >> it's being written now as we speak. straight ahead, one a one-time tesla bull says he sold off of his stake in that company. if you missed "worldwide exchange," check us out on apple, spotify or other podcast apps "worwi ehae"ilbelddexcng wl right back

it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today.

a september to remember as investors prepare to close a rocky month and quarter. futures pointing to solid gains for the finish let's make a deal. the senate approving an agreement to keep the government running while the house clears a plan for the debt ceiling that's due to fail. richard sapperstein is here with his stock picks for the final three months of 2021 as

"go big or go home" rolls on you're watching "worldwide exchange" right here on cnbc and welcome back to "worldwide exchange. i'm frank holland in for brian sullivan and here is how stock futures are looking just about halfway through the 5:00 a.m. hour in the new york city area we're seeing green across the board, all three indexes up about half a percent we're seeing the dow look like it's going to open up 200 points higher at the higher the nasdaq coming off the third down day in a row. down more than 5% this month alone. in fact, more than a quarter of all nasdaq 100 stocks are down more than 20% from the most recent 52 week highs call it a bear market territory. amid the biggest lag erred pin duo, duo, we'll show it to you

how, down by 57% zoom down 56%. peloton down 49% and biogen down 39%. for the most part analysts remain bearish 86% say buy, 52% like zoom 74% recommending peloton and 52% they're hot on biogen. with that in mind possibly some bargains out there for investors out there looking for a deal, looking to buy the dip the other top stories. bertha is back with more of those. good morning again >> reporter: good morning, frank. a growing number of big investors are reportedly shying away from investing in china now. according to the financial times from a survey in june and july, 12% of more than 200 investors polled say they expect to reduce

their positions in the country that's three times as many as when the survey was last conducted in 2019. the poll also shows that the number of investors who plan to increase their exposure to china has dropped significantly in that time from 80% to 64%. federal reserve chairman jay powell said inflation won't be going anywhere, any time soon. saying he expects price pressures to run into next year. during a panel yet, powell said he and most of his fed colleagues expect current inflation levels to ease as supply chain bottlenecks ease and demand goes back to pre-pandemic levels. he added 2022 should be a strong year for economic growth and tesla bull has revealed he has sold his position in the ev maker.

palihapitiya making that announcement during the delivering alpha event. >> do you have a sizable stock position in tesla? >> no. >> you sold it >> yes >> when? >> over the last few years -- no, like really in the last year or so particularly the prices allowed me to, again -- >> surprised to hear you say that after what you saidabout t company. >> i don't have an infinite pool of capital i'm myself i can't go to other people so when i have the ideas, the money has to come from some place. >> even billionaires have to sell their winners sometimes he added that he's still bullish on tesla but his take on the company has changed saying he completely underestimated just how big the ev market could be you can catch all the great delivering alpha content now available on demand. go to deliveringalpha.com for

details. that's amazing that he undere underestimated how big the ev market could be. >> i think the key word is he said i don't have an infinite pool of cash, i have to make decisions like other investors out there. we appreciate it. now to washington where the senate struck a deal to avoid a government shutdown with about a day left to do so. that agreement coming as the house signs off on a measure to suspend the debt ceiling but that deal likely dead on arrival at the senate. ylan mui with the latest >> reporter: there's at least one thing that republicans and democrats can agree on right now and that is that they need to keep the government open congress is planning to vote on a bill today that would keep the lights on through december 3rd the senate will go first, then the house, and both parties are confident they can get this to the president's desk before the deadline at midnight

>> we are ready to move forward. we have an agreement on the cr, the continuing resolution to prevent the government shutdown. >> reporter: democrats also insist that they will move forward on the bipartisan infrastructure bill in the house, daring progressives to follow through on the promise to block it unless the social spending package has passed as well but the head of the progressive caucus was clear tweeting progressives remain ready and willing to vote for the infrastructure bill after the popular build back better act is passed we can't leave child care, health care, education behind. democrats do not have the votes for this nancy pelosi and chuck schumer discussed the stalemate with president biden in the oval office yesterday evening after it was over pelosi told reporters the plan is still to vote today no time is set yet on the schedule there's a bunch

of question marks around where the time should be. >> a lot of question marks in d.c. no debt ceiling resolution last night, what can we expect in the days ahead >> reporter: as you mentioned, the house did pass the bill that would have suspended the debt ceiling through 2022, but it is going nowhere in the senate. republicans say there's no way they're going to help democrats pass this. democrats say they're not going to use that fast track reconciliation process they're using for the social spending bill to pass the debt ceiling as well we remain in a stand off and october 18th is the deadline for them to figure something out and right now no sign of either one breaking that is something to watch because that is something that could really rattle the markets and spook investors. >> thanks for the latest on the drama in d.c we appreciate it. turning our attention back to the markets in the final installment of our fourth quarter "go big or go home" series two weeks of stock picks you

can't miss this week full of surprises, names like ma jell lan mid midstream, dish, occta let's see what richard sapperstein has up his sleeve. thanks for being here, richard. >> my pleasure, thanks, frank. >> you're like batting cleanup, it's not cleanup, anyway you're last up before the round table tomorrow what's the first pick? i know you're a big fan of big tech. >> the reasons we like big tech, there's a passive bid in the market through indexing, 25 cents of every dollar in the s&p goes into tech 40 cents going into the cues goes into tech cap x is growing in the u.s. and a third is going into technology as bertha mentioned, the china tech crackdown is leaving fewer

choices for investors, a growth scarcity out there, only 70 companies in the s&p have grown at 15% a year, versus pre, post crisis, it was 150 companies a year revenues are growing faster than the s&p, and the beta in tech stocks is lower than it was 20 years ago. for those reasons, we're overweight in technology, the name we're adding right now happens to be one going through a transformational moment wher it's moving its revenue stream from product sales to subscription services, that would be sysco, it's a $240 billion company, 2.5% dividend they're returning around 1.5% in stock buy backs. so we see the company going from roughly 32% of subscription

sales to 50% of subscription software sales in 2025 and then you -- when you overlay that with the multiples of a product sale company like a hardware, it's ten times earnings, the subscription sales will get them 20, 22 times earnings we think it's a good rerating on cisco. >> i want to ask you another question about cisco before your other pick really quick on cisco, the ceo warned about supply chain issues leading to problems sourcing and also lead them to raise prices you're talking about things in 2025, what about 2022? >> the company is selling at 16.5 times earnings which is lower than the market multiple we think it's reflected in the stock already. and supply chain disruptions are really temporary we expect them to be ironed out

over the next year across really a wide range of industries >> so back to your other big pick here, which is faang with microsoft replacing netflix. that's megacap tech. why are you bullish on megacap tech a lot of people are cycling to different trades like the value trade? >> we like technology, the mega cap teches because they have strong operating cash flow take a company like microsoft, $77 billion in operating cash flow, they spend about 20 billion in cap x, so you have a company that's generating roughly a billion dollars a week in free cash flow. and they're turning around and repurposing that free cash flow, whether it's stock buy backs, or other items. so that structure of the free

cash flow is evident in an amazon and a google. if you get a market that goes down 10, 15% you can be sure the companies will be in there buying back stocks to support their price levels >> there we go richard sapperstein, we appreciate the incite. we bring everyone back for one more panel tomorrow. i expect the feistiness then richard. you'll defend your pick with everyone else. coming up the big money movers including investors getting a share of one debut as we head to break, some of the trending stories dollar tree forced to break the decades long practice of selling items for $1 the company will bump that price in just about every area amid inflation.

the nfl the first to get into the nft business, the company has signed a deal with the nfl and the players association to create digital video highlights. the times may change but the craze over pokemon apparently does not according to reports a rare new cookie is selling for hundreds even thousands of dollars on ebay thousands of dollarsor f a cookie "worldwide exchange," back in a moment i'm not here to judge.

welcome back to "worldwide exchange." time for your big money movers, three stock stories of the morning stock one warby parker, prices pulling back after they soared from the reference price of $40, the stock opened at $54 roughly. stock two, amazon, the company settled a case with two former employees who alleged they were wrongly filed. the report claims the women were terminated for speaking out about amazon's record on climate and working conditions amazon is required to pay back wages and post notices it cannot fire people for organizing and exercising their rights. stock three, virgin galactic, the faa cleared it to continue

launches virgin galactic said high winds caused the changes and the pilots responded accordingly turning our attention to delivering alpha, some of the most influential investors, political and economic leaders, all of them coming together for cnbc's annual delivering alpha event. these big names tackling critical issues facing investors across the globe and china proving to be a hot button issue. leslie joins us now with the key takeaways from the event. >> china and investability came up several times yesterday social investors said he can only invest somewhere he understands the rule so he's avoiding china. >> what i've seen the last six

months has shaken my ability in what happens next. so it's a place i will right now read about and not invest in >> reporter: brad of al timter echoed a similar sentiment he said there's, quote, radical uncertainty about the future path >> certainly there's a possibility that this just is another pump in the road that everything reverts back and the stocks rip again but i don't think anybody can say that with a high level of certainty. >> reporter: j.p. morgan's mary urdos was a bit more optimistic saying china has gone on sale and now is the opportunity to benefit from the common prosperity and narrowing wealth gap. she said the risks around evergrande don't appear to be systemic. >> everyone is talking about evergrande as if it's a country.

it's just a company. it's not a small company, but it's not the largest thing happening in china it's 2% of the real estate debt market in china, only 1% of the china u.s. dollar bond market and half a percent of the china bond market. is it a moment that leads to something that we don't know about? maybe. but it's not as interconnected as what you're talking about when you think about the banking system in different countries around the world >> reporter: if you want to see any videos from yesterday's event in their entirety, go to deliveringalpha.com and you can watch on demand after registering. frank? >> a lot of interesting commentary there people seem to agree that china is a big risk to the market. what's your sense of the sentiment of investors going forward when it comes to chinese

investing? >> i've covered about four or five of these delivering alpha events and i will say there was a lot of caution, pretty much you unanimously yesterday. saying this was not normal what we've seen so far is not normal over the last year with 30%, 40% gains in the stock market since last year's delivering alpha she's grappling with telling clients and reminding them stocks don't always go up like that you also heard from brad, who said he is pairing back his net long exposure to stocks because things seem to be priced right well right now he's taking exposure from 90% to 50%, so almost cutting it in half as a result of the recent run up i think people are looking at what's gone on with the market, looking at the macro issue at play, risks out there, china

being one of them, saying maybe it's time to get a bit more conservative >> leslie, we appreciate it. stocks working to end a volatile september on a strong note futures are up lindsey bell is going to lay out whether more wild springs await the final quarter of the year. if you haven't already, follow our podcast if you miss "worldwide exchange," check us out on applespifor o, oty ther apps, and "worldwide exchange" will be right back

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 stocks trying to close out a rocky september on a positive note futures right now in the green across the board the dow looking like it could open up as much as 150 to 170 points at the open it's been a tough month for stocks looking at losses between 2.5% and nearly 5% on the nasdaq. the rise in bond yields playing

a big factor but one month does not make a quarter. a mixed picture for the third quarter overall, the s&p up nearly 1.5%. for more let's bring in lindsey bell a cnbc contributor and a graduate of one of the finest educational institutes in the world. we'll get to that in a moment. but first, how are you today >> good, how are you >> we just talked about it, a rough september but the data points to a big turn around maybe as soon as tomorrow. can you break down what the fourth quarter generally gives us historically? >> yeah. tomorrow i know we kick october off, might be a little bit too soon for the market to just do a 180, but we are hopeful looking forward to the fourth quarter because seasonally, november, december are strong months for the market we're also hopeful for a turn around in economic data. you're starting to see the

leading economic indicators and other surprise indexes turn a little bit positive. so that we view as a positive sign going into the fourth quarter. also i would say the rise in the ten year, while faster than the market would really like to see, has historically been an indicator that economic data ca turn around. so we are hopeful. and, of course, we believe the strength of the consumer can help the market move forward as the next few months -- >> let's talk about the strength of the consumer lindsey, you cited data from the american association of independent investors, that focuses on retail investors indicating there's an increase in bearish spending continues to be strong. sales force said prices are up 20% in demand for things like clothing and up 40% for luxury

items, like handbags are people bearish but still interested in buying stocks and keeping their money in the market >> yeah, it's really interesting. we're at this point in time where the consumer is saying one thing and they're doing a completely different thing so you look at investor sentiment gauges like that, they become bearish and much less bullish than they have been in the past but we sue last week a lot of money flowed into the market despite the down day we saw it really was a buy the dip mentality that came back to the marketplace. same with consumer consignment and confidence, it's dipped in the last couple of months but in august we saw retail surprise to the upside the consumer, when there is a reason to spend money they go out and do it because they still remain flush with cash you look at deposits at banks dmesly it's at a high, $17 trillion a lot of economists will talk

about how that can save us going into the next year meaning because the consumer is so flush growth could come from their spending despite some of the challenges that we might see ahead. >> one thing you're keeping your eye on are supply chain issues one thing that may be encouraging for retailers and maybe consumers in the long run is that container prices the last two weeks or so have declined a little bit, by about 7% do you see that trend continuing or as we get closer to the holiday season, do you see the supply chain issues and expenses continuing to grow >>, you know, i think everyone is incentivized right now to work out the kinks in the supply chain the bottlenecks that have been here more than a year i'm encouraged by the data i want to see the trend continue for a little bit longer. but we've seen data with import prices coming down in the month of august for the first time in ten months that's a good sign for inflation and also in china, i know the manufacturing data

this morning was weak but some of the export data, the more recent export data, surprise to the upside, too. i think things are moving, they're working out. and it's going to take a little bit of time. the supply chain issues don't get solved overnight but we're moving in the right direction. >> one more thing before we go hail to pitt. >> hail to pitt. >> take that virginia tech and brian sullivan "squawk box" coming up next.

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good morning, stock futures set to jump again this morning a day after higher interest rates helped push tech stocks lower. a lot of the gains we saw early yesterday did moderate by the

end of the session but what's moving on the final day of the quarter. the senate reaching a deal to avoid a shutdown, but a revolt among democrats could sink the bipartisan infrastructure plan nancy pelosi says it's an hour by hour situation. we'll take you live to washington and virgin galactic shares are soaring. we'll tell you why it's thursday, september 30, 2021 "squawk box" begins right now. >> good morning, welcome back to "squawk box" right here on cnbc -- i can't say welcome back because this is really the beginning of today's "squawk box." >> right it's a continuation from yesterday. >> i'm andrew ross sorkin along with joe kernen. becky is off today we've got a lot to talk about and want to start with the markets after the dow and s&p inchin