it is 5:00 a.m. at cnbc here's your top five at 5:00 more tech troubles or a turn around tuesday nasdaq futures hanging in there right now after monday's big drop many big tech names now down six of the last seven sessions facebook, instagram and whatsapp back up and running this as the facebook whistle-blower testifies in d.c. all together spelling trouble for what has been a stock so far immune to bad news more trouble in chinese real estate as now another major

property company is skipping the bill on a debt payment are they the ultimate insiders a now formal inquiry into questionable stock trades by federal reserve officials. do you need a little good news who doesn't. your morning rbi lays out why history says despite the last few days it may be a good few months for stocks. it is tuesday, october 5th and this is "worldwide exchange. good morning, good afternoon, or good evening, and welcome from wherever in the world you may be watching. i am brian sullivan, good tuesday morning, let's great right now to these markets after big tech took a punch to the gut yesterday, selling, though, not following through today. at least not for now we are seeing futures holding up

in fact, they are higher nasdaq futures, the ones to watch, not dow, they are up 71 points now needless to say, monday was not a good day for most tech stocks that is not editorializing check out these random stocks on the nasdaq, it fell more than 2%, a huge move for that index only 11 nasdaq 100 stocks rose on monday, and 33 of those fell more than 3% ouch guess what, news and cable companies did well on monday in fact, one of the only up stocks, the best performing name in the nasdaq 100 was fox. it rose nicely what else worked on monday not much but fear did as the vix moved higher crypto also did well as a haven, bitcoin kind of slogging and clawing its way back toward 50,000 right now it is up again, 679 to 49,873, cryptocurrency

products and funds reported inflows for a seventh straight week last week that's according to coin shares, inflows to the sector more than $90 million last week alone and it could be today, you never know and bitcoin breaks back above 50,000 something to watch we are going to get more of these volatile markets in just a moment right now let's get caught up to speed on key headlines happening this morning including facebook finally returning after a long outage. good morning sylvanna. >> reporter: good morning. that's right, they're all back online after suffering a major outage for more than six hours for some users yesterday facebook says the problem stemmed from a configuration error impacting its data centers. all three platforms stopped working just before noon on the east coast and marked the

longest outage for facebook since the 2008 outage that knocked the site out for a day contractors tell nbc they were unable to acsays their accounts internally this comes before frances haugen's testimony before congress today. worry before china's property sector continues. fan taz ya holdings failed to pay a $206 million payment yesterday. this after the company weeks ago reassured invests it had workin capital. they have roughly $3 billion on local and international bond payments to make between now and the end of the next year shares were halted in overnight trading in hong kong and the federal reserve is working with the office of the inspector general to examine trades made last year. they're looking at whether those

transactions met ethics zarnds or broke the law it comes after three fed officials all made significant financial transactions last year brian? >> yeah, and two of the three of those gentlemen are out right now. we'll see what happens with the third right now. richard klarida. we'll see what happens there let's get back to your money on this tuesday. the ongoing route for technology, the nasdaq down six of the last seven sessions some of the biggest names in that group, among those bearing the brunt, facebook. we just talked about it. the biggest loser of the bunch pay attention to facebook, it is down more than 13% since the beginning of last month. some of the other big names down 6 to 8% in the same time the question is what do we do

now? let's bring in allen mcnight good to have you on "worldwide exchange." thanks for getting up early for us we appreciate it what are you advising your team and clients to do about the stock market and big tech in particular >> certainly been a challenging situation over the last month. but what we still believe is investors should be constructive on technology and the stock market more broadly. while we had the dip, not unexpected through september, we think as you get through the end of the year and into 2022, there will be more opportunities and we'll see a continued lift as earnings continue to improve and hopefully we'll get a little bit of positive news flow coming out of earning season in the next couple of weeks. >> speaking with a trader on wall street the other day and he basically said you know what brian, we've given up. we had bears and bulls now we only have bull's, those that are

reluctant bulls. he's saying basically wall street has learned no matter what happens, you hold your nose and buy the dip because the upward market forces are stronger than the down market forces even if we get a drop would you kind of agree with that sentiment even if maybe the fundamentals or the valuations or whatever don't always make sense at the moment >> i think long-term the trend is your friend to your point there's an old adage that i used to here which is that bull's make money, bears make money but hogs get slaughtered when you think about it from the bull's side of the house, the earning situation is still good, may not be perfect but still good when you think of it versus the bond market and where we are with yields where we had a multi-decade bull market and bonds. it's tough to get excited about the bond market right now. when you look at risk assets, there is an opportunity there if you can wait and see earnings

really lift into the valuations that we're currently holding we're still constructive on it but we acknowledge it's challenging with the noise going on out there, particularly with what's happening in d.c., what's happening with the fed there's no lack of negative news flow coming ut. >> some big stories out there, you mentioned it we'll see what, if any, of the spending bills get through another property developer in china missing an interest payment. we'll get to more on that as well inflation may be here to stay a lot longer with all of that in mind, allen you're saying go long and strong or at least stay steady. what parts of the market what stocks, groups, whatever look best to you and your team >> it's staying steady, not trying to hit the home run we believe you should still have overweight to stocks, that's the opportunity set right now vis-a-vis bonds. but when you start to narrow the lens as you look into the market we're constructive on large cap

equities, domestic equities. we feel that large cap stocks should have better opportunities than their small cap breath ren right now. particularly with the noise on an international basis and washington but then when you look within the sector rotation we think the cyclicals can do well. we've seen it with the financials and energy set. we think things like industrials can do well as we push through the delta variant and we get to more of a normalized economic outlook as it relates to coming out of the pandemic. >> i don't remember what normal looks like anymore, allen but hopefully whatever it looks like we're getting there. allen mcknight, thanks for coming on. we'll see you soon. >> thank you. when we come back on this tuesday we're going to kick off the holiday shopping list. we're going to bring you the

2021 teen spending survey. find out which brands are hot and which are not. much more on facebook as the pressure grows on the company to change and does the change need to come from the top let's get ready to gamble we'll hear from bally's ceo and chairman, you have a lot more to do, dow futures up 118 ts orbrk.you on the other side ofhisht ea

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welcome or welcome back and good tuesday morning, everybody. it is that time of year again, no not fall, although it is that time of year it is the time of year when piper sandler rolls out the biannual taking stock with teens report asking about teenagers in 44 states what companies and stores and brands they like. some of the key takeaways from the report teen spending below the peak of 2006, that was $3,000, of course, everyone was throwing money around then. but teen spending did rebound from the pandemic lows and clothing is the top spending priority for teens for the first time in seven years. and that unseats the reigning number one which is food although as the father of a teenager i can assure you food is up there. nike is number one in terms of apparel and footwear spending

adding to the 11 year run in the top spot joining us with more is the author of the report, managing director erin murphy this is the 21st year of this survey that you and your team has done and its many iterations we appreciate you getting up early to come and tell us about it how is nike staying so hot are there any threats to its throne >> yeah, thank you so much for having me on, brian. it's always a pleasure so nike has been an incredible story within our survey work in the last several years i think taking a step back there's a very broad casualization cycle that has just continued i think for some they felt that as soon as the reopening play started, you'd start to see a setback of some of these athletic or casual brands and i think these teens are here to tell us that is not the case the casual lifestyle remains whether it's hot sneaker drops

like jordan, which continue to place nike as the number one footwear brand, 57% share, or their ongoing connection to their consumer, placing it at 27% of the apparel votes it has not slowed in any momentum. >> i'm a southern california kid by birth so i have a natural place in my heart for vans i see the kids wearing them as well makes me feel good. is vans still hot? >> we're seeing it slow in the survey if you ask me what surprised me, despite 91% of teens being back in person, which vans has been a very historic back-to-school play it did slip about 500 bases points it's the number two brand but we're seeing other brands like converse, which nike owns, and even crocs gain momentum with this younger consumer.

>> all right let's talk about something which is uncomfortable because it is a -- you know, it is an issue but it falls in your survey, which is weight gain every study shows that teenagers and adults alike tended to gain weight sometimes a lot of weight. as such as we're stepping back out, i think your report said 91% of kids are back in school in person, should be 100%, whatever and kids are going to have to buy outfits. clothing topping food at number one who's winning? >> clearly we talked about nike. lulu lemon another important apparel brand that's been surprising us for years despite being positioned as an upper income brand it is gaining in momentum it's the number four brand now another brand is shean, this is a chinese based ecommerce

company that is now the number six brand among all teens, 10,000 teens in our survey, and also the number two website gaining share as it moves towards amazon at number one >> going to keep an eye on that brand as well. on a macro level, erinn give us your thoughts having done this so many years. what was the most eye opening or surprising thing to you on a macro level from your survey >> sure. so i think this was a very important survey from a perspective of we're getting some good data points as we move through reopening. and so, the fact that apparel is moving up, again you said it best, seven years -- or the highest it's been in seven years is a priority with the wallet. we do think there is an accelerated apparel repl replenishment cycle. we saw from a trend perspective, increasing mention of denims,

high waisted, flair, so we think there's a move going on and that's important for apparel replenishment. the other key takeaway on the beauty side, these teens are moving a little bit more into under stated cosmetic looks. they're not going away from the category but they are spending less than they used to and instead, they're spending more on fragrance and o'hare c - on hair care, so a little shift in the beauty wallet as well. >> got to throw the perfume or cologne on at 5:00 in the morning. >> absolutely. >> niek staying on top, clothes are back in a good way and smelling good is better than looking good erin, thank you as always. we appreciate it. >> thank you so much. it is only 5:18 in the

morning you have to smell good so grab another cup of coffee and get ready. we are talking about why coffee prices have soared lately and how the iconic company is dealing with it. a one on one with the ceo of eli cafe what could be better timing at this hour of the day dow futures up 122 we're back right after this. 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.

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b bally's finalizing the deal to buy gamesys as it looks to expand its online casino offerings. it also includes a suite shuffle. contessa brewer spoke with fenton and su kim amid the gaming expo in las vegas >> it's great to see you, congratulations on the closing of the deal. tell me, if you will, su, what does gamesys bring to the table that bally's didn't have >> it's a leading operator, it's actually a top five operator in the uk and only one of top ten that leads without sports so it's actually igaming and bingo led and frankly traded at

a reasonable marketable. so it's a more mature business and didn't trade at the huge valuations that some of them do here in the u.s. >> you're now the ceo of the combined company, where do you see the opportunities to bring gamesys know how to ballys. >> one of the things that appealed to us was the amazing combination -- nothing is going in the bin here. bally's had the sports from our side we bring the huge tech stack, sustainable at scale and we bring a lot of the algorithms and the know how of how we use our data online to drive growth >> you're also looking at fantasy sports with this acquisition of monkey knife fight, which is not new but fits into this platform, what's next? >> i think that really almost

unlimited growth is really all different ways to engage customers, even without gaming but with engagement. audience engagement. really if you think about what sports viewing is currently, it's a very lean back experience which is really what separates sports -- traditional sports viewing versus if you go to a stadium or arena, it's very much participatory. you get to express your opinion all the time and also if you look at e sports and online like live media, tiktok live, people are expressing themselves all the time there are so many ways that we can bring that kind of audience engagement to actual live sports and they have nothing to do with gaming gaming is just an end point, you know where we can offer chat -- >> but you're coming to this a lot later than some of your bigger competitors how do you go about, lee,

attacking the interactive part of this? >> we don't mind that. we don't think we're late necessarily. i think that we have -- we have a different approach to try and get into this game and it's not spending $200 million a quarter on advertising. if if we look at where we put our chips it's mostly the media partnerships, the investment in our technology and i think we'll approach customer acquisition in a different way, really driving omny channel we'll be the first gaming company in the u.s. equally online revenues with retail revenues changes the mindset i think within the company and makes us really aligned in terms of driving that omny channel future >> our thanks to contessa brewer as always for that you can catch more of her interview at the global gaming expo, including the ceos of

cesar, mgm, fan dual and hard rock throughout the day here as somebody in las vegas a couple days ago, i can tell you i'm not sure i have ever seen it more crowded hours long wait for restaurants and even lines to sit down at a blackjack table. truly remarkable. coming up, your morning rbi and why history says it may be a good time to buy stocks. a reminder, be sure to follow our podcast later today we have a big exclusive conversation with treasury secretary, janet yellen 're ghtures arhier wee back right after this.

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will it be a turn around tuesday? futures they are higher after monday's big hit to big tech facebook, under fire as a former executive makes damning claims about the company and how it deals with misinformation and teenage mental health. is it time for mark zuckerberg to step down plus why big pharma headlines should be very good news when it comes to the fight against covid, top ranked analyst matthew harrison is here we'll bring him to you with news you have got to hear on this tuesday october 5th. this is "worldwide exchange.

welcome or welcome back, everybody. and good tuesday morning thank you very much for joining us as always on "worldwide exchange." let's get to the markets and your money as well following the big punch to the gut that big tech took on monday futures, selling is not following through. maybe good news there. they are rebounding just a bit nasdaq futures up .5 of 1% of course they lost 2% yesterday, not looking to gain that back right now but the markets are at least in the green. we'll see if this consistent always buy the dip type of mentality holds up today dow futures up 122 let us get to your top corporate story this morning that is facebook a former executive planning to testify in front of congress today. highlighting some of the dangers of social media on society and kids and teens in particular today's appearance follows allegations that facebook consistently puts profits before public safety or accurate

information. and the whistle-blower claims to have the documents to try to prove it still, facebook scrambled to respond to some of those claims right here on cnbc monday. >> if we were a company to didn't care about safety, if we were about trying to prioritize profit over safety we wouldn't do this research the point is understanding how we can do better and do a better experience. >> facebook has taken a number of steps to try to bring more transparency, accountability, external engagement. is there more we can be doing? we're always working to improve the experience for people who use our platform and we'll always continue to do that i do think that 3 billion people or more are using our platform on a daily basis because they see it as a safe and secure place to communicate with their family and build community. >> the latest controversy over

facebook and social media also getting the attention of the white house. here's press secretary, jen psaki, yesterday afternoon. >> in our view this is the latest in a series of revelations about social media platforms that make clear that self-regulation is not working our effort is going to be continue to support fundamental reforms. >> now these allegations bringing renewed calls for more regulation and on top of that, it was more than five and a half hour outage for all facebook products, even internal company emails on monday they are rebounding a little bit in the market, down 1.5% it wasn't just facebook. pinterest down 6%. snap down 5. twitter almost 6 apple down as well amazon falling 3%. tough day for big tech let's talk about it. joining us is our adviser

analyst covering tech heim segal and stephanie meadow i'm going to ask a direct question does mark zuckerberg need to step down? >> mark zuckerberg is not going anywhere i think that he continues to have the support of his board. he has, you know, the majority of shares. he has super voting rights mark zuckerberg himself has called for greater regulation of facebook what isn't clear is what level of regulation a company like facebook is willing to accept. are they willing to give regulators access to algorithms and systems, willing to open doors to field inspectors the way that banks have. my sense is that mark zuckerberg is defiant and is not -- even if there are calls for him to step down, it would be very hard to displace him >> yeah, and one quick follow-up to you stephanie

you're exactly right nobody can force him out, he has an ironclad grip on that company. super voting rights, hand picked board, hand-picked executives. he has a walled garden around him, an iron-walled garden around him at some point doesn't the buck have to step at the top? facebook is like we're not a problem. but it's over and over and over again, and yet nothing ever changes. >> yeah, it'll be interesting to see -- there are two important constituencies that we need to hear from. i'm interested to hear what heim has to say the other thing we haven't heard from is advertisers. i think if advertisers start to pull and say they don't have faith in the company it might be a different conversation for now the company continues to

grow, the revenues are up. so it's very hard for one to argue that, you know, these two big constituencies have a problem with mark zuckerberg. >> we saw the stock down 13% in about a week or so, but it's had a heck of a run. and facebook users don't seem to care everyone, delete facebook, and nobody does. does the company take a business hit on this? >> i would think that there's going to be some backlash, but i think the company has some bigger issues just with the numbers. i'm sure this is a tiny hit. they're facing tough comps as we go into q 4 and q 1 with the pandemic boom they had what you talked about before, i think they're in a little bit of

a secular boom after the pandemic, people are just back online and excited about it and advertisers have followed them so i don't think that's a big story right now. i mean, if they stayed -- stayed down till today, i mean, then watch out. but, you know, thank goodness they got back up and running >> and they did, chaim i go back to you on that why do you think advertisers hold their nose or look the other way, even with all the controversy around the company is it just that facebook is the platform, at least for certain age groups, maybe not children, but older, it is the platform they have to be on >> look, if you're an advertiser, you know, you care about roi and you have the ability through facebook, probably more than other networks, to reach your customer directly i mean, they have amazing algorithms that advertisers are just excited about the last

decade or so once you start seeing roi on your spends, you know, you're not going to leave them so fast. i do think there's a lot of hype in the media a lot of politicians are trying to grab air time and things like that sure social media has a lot of issues, no doubt about that. but i've been of the thinking, all the time i've been covering facebook and it's a little bit annoying because i care about earnings and i think the opposite i think facebook cares about its customer experience as much or more than earnings and they've taken a hit with or without the government in the past, just to make it a better experience for their customers and sometimes things don't pay out for them in the next quarter or next year, which i like things to get paid right now i respect what they're doing but look, the 800 pound gorilla, they have a lot of balls in the air and, you know, they're going to have to deal with constant issues

i mean, they're running a giant nation organization. so, of course, they're going to, you know, have the magnifying glass on them. >> well, and they do and it -- by the way, stephanie, it is actually, we talk about partisan differences in this country and there's not a lot of things that the two teams seem to agree on. but apparently social media regulation is one of those things we showed a graphic with a republican and a democrat, it does feel like there's some bipartisan, at least, agreement on social media regulation but does that mean congress is going to do anything are they just going to grand stand, say some words and then everything kind of goes on >> i hate to be cynical about it but i think this is an issue that, while there is agreement that there should be something done, what congress should do, what regulators should do is, you know, the devil is in the details to use the old cliche. this is not a congress that has

shown a real willingness to dig into the tech any logical details. as i said earlier, what does regulation of these platforms look like? we've heard from jen psaki, from members of congress, i haven't heard anything that suggests there's an actual proposal on how to regulate these organizations and what that regulation looks like. >> maybe changing section 230 from 20 years ago we'll see. pretty much yesterday everybody agreed instagram for children is a bad idea but the exec said we're going forward anyway thank you both for being on. have a great day. >> thank it is. despite that, we have good news, your stock stats in your morning rbi. if you're long stocks you want to hear this plus, why that cup of coffee you are drinking may cost a lot

more ahead more on that and new things being rolled ut. as we head to break some other top stories on tuesday, a federal judge ordering tesla to pay $137 million over to a former employee after accusations of a hostile work environment. the case was only to move forward because their client did not sign of tesla's mandatory arbitration agreement. the fact rental company saying the subscriber base crushed in the pandemic but began grewing again. and california's governor signing a state of emergency after the oil spill. the coast guard determining whether a ship set anchor in the wrong location causing damage to the penepili we're back right after this. when the only thought on your mind

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welcome back you probably noticed that your daily cup or cups of coffee cost a lot more lately. it's in part because brazil due to drought has cut their planting short but coffee is a must have. good morning everyone. few know more than eli cafe. joining us is the ceo of eli

thank you very much for joining us, and cheers with the coffee as well. i can assure you hosting this show i consume more than my fair share of your product. we do appreciate it. before we get into sustainability and everything else, do you see wholesale prices of coffee coming down at all? are these costs and prices here to stay? >> well, it's a kind of perfect storm right now because not only the prices of coffee going up, it's all the raw materials are going up so coffee, raw materials, et cetera, so this is something we are facing in all the companies in the world and sometimes is linked to kind of getting out of the covid situation that has created some turbulence and shortage of materials, et cetera sometimes it is due to things that you can't control at all, like climate in this case. the drought and the frost in

brazil >> yeah, and there's human issues as well, too. and there's a lot of corporate speak, to be perfectly blunt, especially in the united states, about doing well, doing good advertisements say one thing but companies tend to sometimes do the other thing. talk to us about your direct grower program and talk to us about the farmers who grow the beans coffee has become a giant industry, which is normal and fine but we have to support the local farmers because they're also dealing with constant climate change and problems. >> that's key. regardless of what is happening right now, the draught, frost, et cetera. our approach has always been we have to take care of the community. we have to share -- so not only with the shareholder but all the stakeholder at the beginning of the value chain we have the

coffee grower. not now, since 30 years and more, i mean, this is part of the dna of the company we have always had the direct approach with the growers. so because that is the only way to ensure the high quality that we want and need, but with -- coupled with sustainability. so the two cannot be separated there is no such that is side quality if the product is not susta sustainable. you need to take care of that starting with the coffee grower. and sustainability as a whole, not only the economic sustainability, of course, so paying a fair price, ensuring they're making profit, they have the money to reinvest, ensure they make high quality, get a premium for that but also environmental and social sustainability, taking care of the land where they grow the coffee because you know, certain spaces, they only grow certain eras deliver that quality. and we need that climate to get

to that level of quality so we need to preserve the land. so we need to work with them through our universe of coffee, our green coffee team to teach them how to grow coffee and impacting the lowest possible on the land they're working on. last but not least, we need to take care of the communities because if they don't stay there, they move somewhere else, we do not have anymore the coffee coming from that region. >> you are coming to our region as well. selling 20% to a new york based private equity firm. look for more illy cafes in new york and the united states as well thank you for waking me up every morning. >> thank you. >> have a great day, sir thank you. >> thank you up next, top ranked analyst matthew harrison is here on why there may be some really good news coming in covid treatments. it is news you've got to hear.

as we head to break, a look at the new cnbc documentary "generation gamble". airing tonight at 8:00 p.m. eastern. melissa lee hosts. it's on you to kind of realize what you want to do with your money and how risky you want to be >> what does your portfolio look like now >> i believe i have a stock in tesla, in neo. i did invest in doij coin. >> do you realize it was started as a joke? >> yes >> and you're in it? >> yeah. why not.

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time for your morning rbi. today's most random but interesting thing is short and hopefully sweet because it has to do with stocks. hey, what else after yesterday's trouncing for tech, right. even though you know the stats,

nasdaq down six of the past seven sessions here's one that may make you feel a little bit better that's our job in the morning. according to keith lerner, the fourth quarter is reportedly a solid one. in fact, going back to 1950, stocks have risen 79% of the time with an average gain of 4%. and lerner wrote to clients friday to use any weakness in the market to add to positions in the weeks ahead i guess he nailed the weakness part right and said look at small caps saying they might be ripe for a buy after one of the most extreme periods of underperformance in the past decade so that is certainly something to watch as you know, small caps are domestic american stories. so they may benefit as it looks like covid is on the run in many former hot spots hospitalizations, by the way, down 20% across america in just two weeks. some good news so imagine that.

perhaps two pieces of good news in just one segment. hard to believe. but you're welcome which leads us perfectly into your next guest a guy whose team has done as much work on covid and the vaccines as anybody on wall street, matthew harrison joining us again it's great to have you back on, appreciate all you and your team have done to keep us informed the last 18 months or so on covid and everything else. a tough question to ask again. there's 1.5 million unvaccinated and eligible people in new york city as we're headed into cold weather, in other words inside do you foresee some kind of late fall or winter surge in the northeast? >> it's a good question, brian and i think for us, it's not unreasonable to expect at least some increasing cases as we go into the winter. we're hopeful that's going to be the last increase that we see or

the last substantial increase in the u.s. but we would expect to see cases increase >> hopefully, do you think if we do and it's, you know, following -- i know seasonality is a dirty word but it appears that way, matthew. do you think that will be the last peak, that will be it >> you know our view has always been we need to get to the second half of 2022 to really end the pandemic globally. i think if we can get through the winter season in the u.s. that might put us on a good trajectory obviously we'll have to see how significant it is. but assuming no other variants, i think that could be a reasonable conclusion. >> all right well, on friday, the merck news came out about the likelihood of the oral covid treatment, its efficacy as well it's not approved yet, has to be

approved i was in las vegas and we were almost hugging and laughing about it, saying this seems like a game changer, merck rose nicely, the market rose a little bit. are we underestimating the potential impact of this merck news >> i think from a direct perspective, the market gave a lot lot of credit to merck if you look more broadly than that, i think this is just one piece in the available treatment. so you have for healthy young people oral anti-virals could be very good if you get infected or a breakthrough infection but there are still a lot of other people at risk so those at high risk may need antibodies and the important thing for everybody to remember is vaccines are the primary prevention tool and the only way we get ourselves in a good position and get out of the pandemic is to get as many people vaccinated as possible. >> and vaccination rates have actually ticked up lately which

itself is good news. this is not just merck as well you're our covid specialist but you are a pharma and bio tech analyst by trade talk to us about pfizer and roche and some of their oral, pill based treatments for covid. how are they looking if we can get three treatments in addition to the vaccine we can see the finish line to this plague >> sure, there are two other oral drugs in development. one from pfizer and one from a smaller company called atay. both are in phase three studies we expect data on both of those before the end of the year we're hopeful we see good data out of them hard to say if they're going to compare to merck but both from the initial data look promising. >> now finally i want to end with this and i'm going to ask

you to guess a little bit, we talk about the other countries saying covid is here to stay, even new zealand and australia who pursued these covid zero policies forever and it didn't work have said we have to live with this. when do you think we get to that end-demic stage in the united states >> i think people want to see what happens this winter if we can get through the winter without significant surges broadly across the country i think that's going to make people feel better as we enter 2022, we'll have hopefully more than one oral available. we'll have multiple antibodies available. so we'll have a broad range of treatment which should further decouple hospitalization risk. >> well, that is some good news. the merck news is good as well we'll see if the pfizer and roche studies come out even if we get covid while vaccinated, take a bill, get

better that's a great way to end the show matthew harrisson, we appreciate your time and work >> thank you, brian. >> you're welcome. you have dow futures up 130, nasdaq futures up a couple points crypto up as well. good news to end the day you are welcome, america see you tomorrow squawk and the gang are next cheers 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. baaam. internet that doesn't miss a beat. that's cute, but my internet streams to my ride.

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good morning, futures in the green after monday's selloff led by the biggest names in tech worries about higher interest rates sparking the slide. facebook was bruised, the social networking giant recovering from the largest outage since 2008. it's actually coming up this

morning. company playing defense as a whistle-blower gets ready to testify on capitol hill. out later. and then earnings season, the most wonderful time of the year, happens four times, four quarters pepsi co about to roll out quarterly results. it's tuesday, october 5th and "squawk box" begins right now. good morning, everybody. welcome to "squawk box" here on cnbc i'm becky quick. along with joe kernen. andrew is going to be joining us a little later in the program. >> sleeping in. >> he didn't sleep in. i knew you were going to say that he did sleep in, but he slept in for a good reason. he's on the west coast so it's three hours earlier. it's only 3:00 a.m. and he's there with big guests this morning so we're