this is called momentum. and there's no off-season. just work that builds on itself over and over and over again... becuase the only way is through. it is 5:00 at cnbc global headquarters it netflix added more users than expected but was it enough to boost the stock. the first ever bitcoin tracking etf and taking a page from google's page, facebook rebranding and fresh from milken, an exclusive and his

take on the global energy prices and its push to the esg. and who is eligible to receive a covid-19 booster wednesday, october20, 2021 >> the nasdaq lower. let's look at what we are yielding right now cryptocurrencies now hovering bee love record all-time high

one day after the public market debut lower still about 14,000 why the stock is down in extended trade around the world we go a mixed picture in asia and a busy morning in europe to london to look at what's going on in europe >> good morning. it has been a busy morning we started out with a mixed picture. over the last hour, positive momentum has been building the swiss market out in front

nearly.09% higher. overhaul nestle shares up 3.4% in the pharmaceutical test, strong demand for covid-19 tests drove roche up roche shares muted performance and kering underperformed missing expectation as recovery slowed in asia

>> some of the top corporate stories suing each other requiring authorities to get vacc vaccinated union pacific believes it has the authority to require the vaccine because it sets standards for when employees are fit for duty >> netflix ceo said he screwed up to communicate with the employees upset by the chappell special. he said i should have realized a group of our employees were hurting. >> and reportedly prepping to call to the time line reportedly

15 years more on that sector coming up. when we come back, big money movers including shares of brinker international. two interviews fresh from the milken conference in los angeles talking crypto and energies. and former saudi chairman. later, rbc capital's lori calvasina and her take on the run. more coming. don't go away. or it could be y there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next.

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time now for your big money movers first up, brinker international. shares are tumbling after parent company chiles saying it is increasing focus on hiring and. >> however united ceo said they are expected to recover up to 75% of 2019 levels

on "squawk box" on the first on cnbc interview turning to shares of wd 40 after the maker of cleaning products reporting the earnings that missed forecast. the company missed higher costs for goods. market volatility, economic uncertainty are weighing to labor anxiety. surveying for the past 18 months for fears and what they are doing with the latest money. >> what is the biggest stand out, you mix those two and

investors are wave waving the caution flag we have about 45% of our readers who are some what to extremely worried. 34% are expecting significant drop up 10 percentage points since the last time we investigated them. we have a lot of folks moving to cash the prospect of higher interest rates and prospect many companies as of late >> the supply chain issues and overwhelming response. 53% of readers citing supply chain concerns about 43% are worried about

government spending. usually good for stocks. think bg what could bring down their returns. if they are becoming worries about where they are going from here travel restrictions dropping here. you have the fda panel approving the additional doses of the vaccine. the big money that moves markets. they've kind of stuck with it and seen the rally up as well.

a little confusion and that could weigh on sentiment going forward. >> given the recent surge at 64,000 >> exactly we ask where the biggest bubbles are. those are in crypto and the u.s. housing market we finished thursday of last week and bitcoin shop shot up and is still going they think poibitcoin have the biggest 3wub8 next to stocks and afts others said commodities it is interesting that they picked crypto and the housing market both you could argue might be in a little bubble territory. >> investors see prices going

lower from here, not going higher >> they didn't expect the bubble to be in the commodity area. these are investors that favor stocks the big blue chips and dividend paying stocks. what happens if they don't get goods. they are more concerned than they've been for months. wti at $84 an hour >> still on deck, facebook looking to take a page out of google's playbook with a gbalol rebranding campaign. more when "worldwide exchange" returns. and you have to lower wait times. with ibm, you can do both. your business can unify apps and data across your clouds. so you can address supply chain issues in real time,

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stocks >> what's your plan to get back to the office as a boss? >> we'll be back with a degree of density, probably more in november we'll be back. vaccinated only for in the office it is really important to gather again. >> how about getting on a plane? >> if people want to get on planes, we'll do it. if clients want to see it, we'll be out i don't think it will be as much as it used to be like drafting meeting for ipos elements won't go back to that nothing like seeing people face-to-face all conference long and in con

census, seems to be i can make the bare case for stocks and it doesn't matter almost frustrated what is your market got to make sure the infrastructure gets done what goes into that build and beyond that one thing for the market to suggest because it is an unknown >> you made a deal and now actually holding assets. somebody talking and said, the institutional game they are not in the first inning they are waiting for the game to start. >> largely on deck

>> where are we in the crypto cycle. i think custody is a big stall those offerings we've heard pretty consistently that they don't work that's a big part of the unlock in crypto. we think it is going to happen it is the crypto uncertainty and will be much more involved than it is today. >> bitcoin now up about 31% in

the last two months. >> ahead here on "worldwide exchange." much more from milken. an exclusive one on one from the saudi aramco chairman. we'll be right back.

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today. shares would march back it is wednesday, october 20 watching "worldwide exchange" on cnbc welcome back, i'm in for brian sullivan stocks did close higher closing in the fifth closing streak right now futures indicated open lower. dow jones open just talking about it, hovering above the high a level it hit back in mid-april. currently trading around

$54,000. coming one day after the pro shares bitcoin etf went live on the market. >> a modest gain around 3% trading flat this hour >> u.s. health officials are expected to expand the age range for americans who should receive covid shots. people as young as 40 who received either pfizer or moderna will be encouraged to get a third shot it was those 60 years or older and at high risk >> act vision blizzard fires people over claims of harassment 20 fired over a rise of claims

president biden reported will ready to raise the price tag $1.9 trillion as a target. meeting to try to lock up a deal one stock to watch is netflix. shares around 1.7%. >> higher on third quarter results revenue in line with estimates. always a key above the estimate. saying the streaming giant expects to double that figure as it gets a big bump from fresh content and big hits like squid game >> squid game is incredible. it is the system ted's built with highly distributed vision

one of our leaders in korea two years ago that commissioned it there's got to be other amazing ones we don't even know abouts this kind of the million dollar question squid game is an impokt situation. they acquired it for relatively low amount it has been a hit across the globe. i think the bigger, longer story with netflix

narcos coming out, seinfeld coming out key success to their content a way to keep them relevant with the genzers. they just seep to be one step ahead of the curve with squid games it highlights where they've been most of the new subscribers added came outside the u.s contributing $2.2 million and net new subscribers. what do you make of the strategy and ability to get new customers to join at atime

>> that's one of the issues. you highlighted with the pull back in shares clearly, they'll have to rely on the report those prices in philadelphia and western europe do they have the wiggle room to raise prices in india and southeast asia.

>> there are an overwhelming supply we've seen shares drop by 20%. what are you recommending clients buy on weakness. what is the trade? >> i've heard on your program. it sums up really well netflix really rarely come out and have overpromised and underdelivered one of the strongest content slates ever. to me, and it could easily surpass that number. they'll have to wait to get this

stuck. and you are not hearing that tone from fet flichl the story is in tact it will take more time from here given the relative performance as well. >> trading at 627 a share. and looking at tesla, we've seen shares rise as much as 50% now back towards that $900 level. could these results propel tesla to new record highs? back in may, clearly the bar has beenraised

they have factories on line. they can now kind of shift some of that. i think the tesla story is very interesting from here with what we are seeing in china and production wise. so far, they seem to be the ochbl major oem with any execution where their numbers are hitting expectations >> so many automakers are facing those changes. hearing from kathy wood at the

annual milken conference tesla could be a part of a new class of faang stocks. listen in. >> we want our clients to be exposed to the next faangs which aren't going to be in the faang category tesla is becoming a faang. it will end up in that grouping at some point. our minimum hurdle rate of return expectation is 15% at an annualized rate over five years. so doubling over five years. tesla is about nearly quadrupling every five years, so well within our ranks. >> what do you think can tesla join faang >> she may well be

in terms of the stock quadrupling. that's a little finger in the air stuff. i wish she focused on more tesla stories. she tends to add on to her losing positions but i think the tesla story, we'll look back at 2021 and see where they separated this emself-s from the pack not doing what he's doing just making good cars >> this broader focus on esg just puts more focus on companies like tesla turning to the ongoing oil

and energy crunch. uranium stocks getting a launch. pippa stevens is here with us. >> the power crunch playing out in europe and asia is prompting discussions. some are betting nuclear power could play a larger role prices topped $50 mining those funds that track the race. the biggest winners this month are the microcap names and

resources. some of these larger places are also seeing gains here >> those are big moves here. i wonder, retail traders are playing a more important role and i believe they play an interest in uranium. is this playing out? showing in the last few weeks, retail traders have been buying. after fukushima in 2011, it fell

out ofdemand people betting a role. >> why this sudden interest. >> we are seeing some of the hiccups. nuclear can be an option and people are saying if we do want to shift away, we can play a role calling for more build out and

capacity definitely a story to be following. >> really interesting stuff, pippa. thank you. you can read more of her report. brian sullivan sits down with a conversation with former saudi administer insights ahead but first, some other top stories. facebook reportedly to rebrand with a new name. making the push to better align the brand with the metaverse >> and snap ceo says companies must take responsibility over content instead of waiting for regulators to implement laws

preparing to go before lawmakers next week on social media's impact on kids amazon offering bonuses up to $4,000 for workers in the uk. labor short annuals forcing british companies to raise wages. hritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

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annual milken institute global conference is happening. our own brian sullivan is there. he spoke with former saudi energy minister. listen in. >> there are so many things happening in saudi arabia now around vision 2030 i have to begin asking you in your previous life as energy minister, what is happening with global energy right now is nothing short of remarkable. we are seeing real energy, power outages and more in europe right now. what less ones would you take that the u.s. could and should learn right now? >> it is remarkable but predictable. we have talked about it for many years that the world has to be

cautious we have to invest reliability, sustainability realizing that the transition will take decades and it is not a switch you can make overnight. giving our own signals whether it is with investors or policy drivers. we have basically been given good intention and idealistic accelerations with physics and the law of nature. this is a multidesignation basically been given the signals not to invest.

given back money to invest in shares and taken in capital to the slow growth and renewable energy we have deprived the life blood of the economy in saudi arabia, we have been committing over decades to providing sustainable and adequate energy for the marketplace but one hand cannot do it alone. we need the rest of the global community to heed the reality. because of the squeeze on supply but the industry is powerful and can evolve quickly >> you are an honorary texan, an

aggie. >> and proud of it >> do you think production in texas is going to come back? >> i think it is starting to come back. i don't follow the energy industry like i used to. it is in the good hands of your royal highness he's doing a fantastic job your royal highness keeps a close eye. but i believe the energy industry is very resilient

supporting but not sufficient. real iegz that esg is not abandoning if you don't have oil and gas, you'll be burning more coal and worse forms of fuel to keep people warm and mobility going we do need to invest in oil and gas enough while also growing those forms. >> that is so much a part of that we spoke on stage, 10 billion trees will be planted in saudi arabia these bold goals

the plan is sustainability, a switch to renewables >> can saudi be an exporter of renewable as well? >> not as easily or readily for oil or refined product we believe that return which we are blessed with with solar and transport to fuels those metrics today both blue and green am ownia and hydrogen or methanole we are committed -- the world's

green hydrogen project is being built in saudi arabia. that is being defined for liveability, sustainability. all of this being designed and built in the kingdom and projects like neom and in a couple of years, you'll see green amonia and green hydrogen. we have already exported some blue amonnia to japan and other places take a look at brent crude, up 20% trading around $84. on dak, gearing up for another busy day of earnings laying out why volatility and

stocks could be a good time to buy. which stocks she has an eye on if you haven't followed the podcast. check out our apps we'll be right back. or it could be the day there's a cyberthreat. only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. [coins clinking in jar] ♪ you can get it if you really want it, by jimmy cliff ♪ [suitcase closing] [gusts of wind] [ding]

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we got this! life is for living. we got this! let's partner for all of it. edward jones real money movers this hour. first marriott accusing the company of making $220 million in resort fees without proper disclosure. shares fractionally higher turning to the volume on the reddit crowd mentions on wall street bets have more than doubles and stocks up about 16% this month focusing on energy, look at solar stocks

siege big gains. solar edge climbing 13%. edge solar up 11%. the u.s. 10-year note hits 1.7%, the highest since may. joining us now, head of u.s. equity strategy. it is good to see you this morning. >> thank you for having me >> are you surprised by the turn around in the market we started with a concern about the tapering we always it would

be more in the 5 to 10% range. of course there is a supply. in the next week and a half, a key test of that to see ifs that true what we are hearing is that appetite is very, very strong. that 20% draw down will be shur. >> i would not say i think this was getting better you are starting to see some hints, some glimmers of hope looking at the surveys and

backlogs you get great cause. those have actually started to edge down. global covid cases are a leading indicator for freight cost by about one to two months. we saw that decline and it told us to look for the decline of freight cost and that's what we are getting. >> recommending folks to buy companies like chevron and big banks that do well in a rising rate environment what do you make of that >> i thinks that great advice. we did narrow our bet back in august we pulled down materials to neutral. they are not the center of

supply chain issue we have honeywell, caterpillar, deere. what do you like best here >> we don't look at specific names. what i have been doing is having a lot of conversations there about upward revisions there are more downward revisions than upward. it is a great baro meter but usually bottoms out. i'll be watching those names to see if these supply chain pressures are already baked in i've been hearing some chatter >> netflix reported last night there was that strong consumer story that seems to be playing out with a company like that i wonder if that could be

something you see from other reporting companies that get set to report from facebook and alphabet next week >> this isn't a comment on those internet names but we think we are hearing supply chain issues. continue og to see the consumer data had lunged. talking about how much cash they had and i think the consumer is putting that strength going forward. >> really fuelling the market.

the s&p 500 on stride. tom lee raising target to $4,800 saying we are more in a risk on target >> we are at 4,500 for the year. we are at 4,900 for next year on the s&p. that s&p 500 up. lori, great to see you this morning. from rbc capital markets that does it for us on "worldwide exchange. "squawk box" is next

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good morning stock futures relatively flat ahead of another big day of earnings we'll hear from verizon, abbott labs tesla and cxx this afternoon f netflix adding 4.4 million and bitcoin closing in on the all-time high. jumping in its wall street

debut. wednesday, october 20, 2021. "squawk box" begins right now >> good morning. after the gains of yesterday, you'll see markets at the flat lines right now. s&p up by a point and nasdaq indicated up by under six points treasury yields have picked up this morning you'll see the 10-year note yielding 1.369%. started to pick up after being stalled at that 1.6% level