ro. it's earned and tested. ♪♪ we all have the strength to see what's possible. it's up to us to unlock it. tonal. be your strongest. it is 5:00 a.m. here at cnbc global headquarters here's your top five at 5:00 the market's record run rolls on with the s&p joining the all time high club on the back of a busy earnings season fresh taper talk from atlanta's fed chief as he warns of the lingering impact of inflation on the economy. one of your key morning stock stories today is snap as shares plummet on weaker revenue figures dragging other social media names with it.

evergrande, avoiding default for now, as the chinese developer reportedly makes a key bond payment. a deal amongst the democrats as president biden said he's made an agreement within his party. it is friday, october 22nd and you are watching "worldwide exchange" right here on cnbc good friday morning i'm dominic chu in for brian sullivan today here's how your money and the global markets are setting up. stock futures are indicating a more stable open, dow higher by about 29 points, nasdaq lower by 1 point and the nasdaq down roughly 49 points. all of this is happening with the nasdaq being hit especially hard by disappointing earnings from a number of tech companies. we'll have more on that story

coming up. checking on treasuries on the back of yesterday's better than expected job's data. the ten year currently 1.69%, moving to the highest level since may, the two year .47% turning to the energy sector west texas intermediate, currently $82.79 up about .3%. ice brent up to $84.92 or up.37%. looking at cryptocurrencies, bitcoin you can seen right now just about 63,600 the last trade up nearly 1% ether up 4,151 the last trade there. this after the record high of

66,398 or thereabouts for bitcoin earlier this week. let's go worldwide asia wrapping up the week with a mixed session. julianna tatelbaum is live in the london news room with a look at the early trade over there and wrapping up here -- or rather getting started in london over to you. >> good morning, here in europe markets are off to a positive start this friday morning after a basically flat week so far we have the majority of regions here in europe, trading higher, earnings continue to be a focal point. investors also keeping an eye on covid cases that continue to rise here in the uk. that's a story people are putting more focus on recently so far investors looking to the rising cases i want to highlight a few big movers for you, starting with lorel. third quarter sales beat analysts expectations jumping amid strong chinese command.

the vendi sales came in at 2.5 billion euros in revenue the french media group spun off the most prized asset, the european music and in the auto space renault has warned of production losses due to the global chip shortage but they kept their profit outlook unchanged. we are seeing a pull back in shares down about 1.3% >> thank you very much let's look at some of your morning's top stories silvana is here with those now. good morning. >> good morning, dom shares of evergrande on the rise in overseas trading after the chinese property developer reportedly made a key bond payment. the company made the roughly $83 million payment today after missing it last month. that triggered a 30-day grace

period set to expire tomorrow. had evergrande missed the deadline it would have entered former default back in the u.s., president biden said he's close to striking a deal with democrats to pass his infrastructure and spending measures. biden giving that optimistic outlook amid the ongoing internal party fighting last night. but the president added raising corporate tax rates was not likely to be part of the plan with a separate tax proposal likely covering the spending speaking on closing bell yesterday bostic said some of the economic challenges stemming from covid-19 will fade and make way for growth one challenge he doesn't see fading is inflation. >> this is going to last into 2022 part of what the ultimate answer to how long this will take will be will be how quickly we

resolve some of the coronavirus issues, as well as some of the supply chain challenges that are happening at a global level. >> bostic adds if the feds need to take steps to control rising prices he'll encourage the central bank to take definitive steps to stop deep damage. back to you. >> thank you, silvana. is everyone of the same mind as rafael bostic and his fed colleagues that it's going to hang around for several months before tailing off sometime next year let's ask sean snyder. sean, thank you for joining us you heard the comments from fed chief rafael bostic down in atl atlanta. does it feel as though the fed is changing its tune a little bit from the more casual it's transitory remarks that we heard just months ago. >> first off, good morning, thanks for having me

i agree with what mr. bostic said we know inflation is here but the question is will it stay for dinner i think it will in some ways i think what is being ignored is energy prices are visible, we know they're rising, particularly with the crisis in europe but shelter prices are the things making cpi stick around and stay more elevated the reason that happens we saw a 21% rise in national home prices and that leads shelter prices by about a year so we're seeing a firming of the shelter prices that makes up a third of the cpi component. i think inflation stays elevated but i think it still comes down. so i think it comes down from the current levels to maybe something like 3% for 2022 >> so if we use the markets as more of an indicator right now, watch things like break even rates the difference between treasury securities and similar

te tenor, and they don't show things are going to get that bad down the line, at least from a five or ten year perspective, how are the markets handy caping this kind of rising inflation scenario that it's not showing up massively down the line although we're feeling the pain right now? >> i think it goes with the story of constantly climbing this wall f of worry i think investors are willing to look through a lot of issues but to say it's not having any impact i think is probably not true you're seeing interest rates rise due to the prospect for more lasting inflation and you're seeing the energy sector and the financial sector be the top forming sectors this year and they trade highly correlated to the ten year yield. so it's feeding through that way. you're seeing moves in the sectors. to say investors aren't reacting

at all i think is a mistake, i think they are you're seeing it in energy and financials but are they extremely worried doesn't seem like that. >> how do you allocate assets at this point given the fact we've seen a massive run up in energy stocks, prices, where else do you go for that trade now if that's what your view is going to be that inflation will be somewhat persistent in the coming months and quarters >> i think energy and financials make sense for a period of time. if you look at value companies, the earning of value companies in this earning season a few weeks ago we were expecting 28% rise in adjusted eps, and they're coming in 30%. so they're still doing pretty well to me the story is what happens in 2022. if you look at the earnings forecast for 2022, value company earnings face tough comparisons and the expectations are on the

decline minus 0.1% whereas growth expected to rise about 10%. so i think the narrative changes as we get into next year i don't hear a lot of investors talking about it but atlanta fed gdp is tracking at 0.5%. the economic growth is down to 2.5, 3%. we'll see how that changes i think people may be surprised next thursday when we get the gdp in >> seems like a bumpy road for sure shawn snyder, thank you have a great weekend. >> thank you, you too. when we come back, the money movers, including intel falling as they feel the impact of the global chip shortage plus wework, how shares stacked up on the first day of trading. and regulators officialing unveiling their plan to help e tat climate related riskso

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or go online today. welcome back time for your big money movers three stock stories of the morning. first you have chipotle, third quarter profits doubled and same sales beat forecasts as customers moved inside to see at restaurants. they've raised prices twice.

those shares down about.75%. stock number two, intel, third quarter sales missing forecast the company predicting lower profit margins in the year ahead as it tries to regain the lead making the world fastest computer chips they say that shortage of other chips needed to make computers are holding back sales of its own flag ship semiconductors those shares down 10% in the pre-market trade. and your disaster du jour, snap shares are plunging as the company said ad sales are being hurt by the changes that apple rolled outs earlier this year. those shares are down 20%. it's making it harder for companies that sell ads based on user's location and interests. you can see it there, call it a tale of two tech giants.

how google's recent app store changes are providing a boost to some of these stocks those names are coming up. still ahead, a nobel prize up for grabs for the right price. plus a historic house is hitting the market those stories coming up. >> announcer: today's big number, $100 billion, that's how much deal activity in health care has reached this year they hit a new record in q3, up 15% from the prior quarter - had enough? - no... arthritis. here. new aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

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all right. it's just about 5:18 a.m. eastern time that's a live shot of times square in new york city. midtown manhattan showing a lot more signs of life these days compared to six or nine months ago and certainly a year ago there. let's move across to midtown there. check on the headlines phillip mena is in new york with the latest good friday morning. >> good friday morning to you. over a month after the search began the fbi confirming human remains found are those of brian laundrie he was the sole person of interest in gabby petito's

murder federal agents say they'll continue to process evidence gathered at the scene, including a backpack and notebook that apparently belonged to brian laundrie the santa fe county sheriff's office said one person was killed and another injured when alec baldwin fired a prop gun on his new movie a spokesperson called this an accident involving a prop gun with blanks. officials say that no charges have been filed adding that the investigation is ongoing there is growing concern this morning at the pentagon over the chinese military's increasingly aggressive behavior according to defense officials that includes the testing of a hyper sonic glide vehicle. it circled the globe at five times the speed of sound the flights were to intimidate taiwan and give the pilots the chance to learn the airspace no baker may field, no

problem for the browns on thursday night football. the broncos responded to the first touchdown by the browns. but a pass to johnny stanton later in the quarter puts the game out of reach. the browns hold on to beat the broncos 17-14. that's it from here. back to you. >> thank you for that. let's get to today's top trending stories which include a horror movie home, a nobel prize up for auction, and a new oil themed resort. silvana is here with those and more >> in case the movie wasn't quite immersive enough for you, the house used in the 1984 horror film "the nightmare on elm street" is up for sale for $3.25 million. the house had been used in exterior shots as nancy's house where freddy kruger visits teenagers in their dream the house last sold in 2013 for

$2.1 million offers are being accepted until halloween. if you aren't planning on winning a nobel prize any time soon a nobel prize from 1980 is going up for auction with a minimum bid of $200,000, the award had original gone to the father of immune ge nettics. and a new water park is opening on a convertedoil rig. the part will boast 11 restaurants and three hotels as well as roller coasters, bungee jumping and sky diving visitors will access it via a helicopter or ferry. the top trending stocks right now, the ten year treasury, digital wofrld acquisition, tesla, phunware and snap let's talk about this oil rig theme park

i'm intrigued. i think i would do it. >> ithink i would too right. it sounds fun. it's very interesting. >> the water slide intrigues me. because that looks like it's -- it's not -- i'm talking not just a water slide but a water roller coaster. >> it looks very cool. it really does >> so what would be your thing, sylv silvana? >> i think the water slide definitely the water slide. >> thank you for that. still ahead on the show. federal health officials giving the green light for boosters for more makers. if you haven't done so already, please follow our podcast if you missed "worldwide exchange" check us out on apple or spotify or your podcast app of choice. "worldwide exchange" audio format we'll be right back.

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or xfinity rewards members, get the inside scoop on halloween kills. just say "watch with" into your voice remote for an exclusive live stream with jamie lee curtis. a q&a with me! join for free on the xfinity app. our thanks your rewards. snap shares smack downafter missing revenue figures over apple's recent privacy changes and spelling bad news for other tech and social media companies. speaking of tech, taking it on the chin, shares of intel also pulling back as it feels the fallout over the global chip shortage and the world's largest retailer, reportedly getting into the crypto game as walmart looks to offer its shoppers access to bitcoin. not fake news this time. it's october 22nd, you're watching "worldwide exchange" on cnbc

welcome back to "worldwide exchange." i am dominic chu in for brian sullivan on this friday morning. here's how your money and investments are looking as we're halfway through the 5:00 a.m. eastern time hour. stock futures right now just about stable the dow is higher by 13 points now. the s&p lower by 2 points and the nasdaq down by 50 points one sector to watch today, app developers initially getting a bump after google announced it would reduce the company's cut from subscriptions on its android app store. now shares of bumble jumping 7% yesterday on that news dua lingo shares climbing. you can see when they cut fees the profitability might improve

for these app developers to more of your top stories silvana is back with those. >> so the cdc has approved booster shots for moderna and johnson & johnson's covid vaccines the agency's advisory committee on immunization practices recommending the moderna booster for elderly people and at risk adults six months after they got the second shot. the cdc endorsing j&j boosters for everyone 18 and older who received the initial shot two months ago the panel didn't specify which vaccine should be used as a booster, instead letting doctors decide whether to mix and match the company's vaccines a panel of regulators have approved series of recommendations aimed at helping the federal government reduce the climate related risks. it does not recommend they take any direct regulatory action and does not call for mobilizing the

financial sector against the fossil fuel industry it lays out steps the u.s. should take to match other countries that have strong measures already in place. walmart is allowing some shoppers to buy bitcoin in stores customers can buy the crypto in some u.s. stores this comes after walmart found itself at the center of false headlines connecting itself to a partnership with lite coin dom. >> thank you for that. this morning's biggest money movers, shares of snapchat sinking after third quarter earnings and fourth quarter estimates fell short blaming the disappointing report on global chain issues and changes in apple's privacy rules as well. >> while we anticipated some degree of disruption, the new

apple provided resolution did not scale as we expected making it more difficult for our advertising partners to measure and manage their ad campaigns for ios. >> on the heels of that, shares of other social media giants that rely heavily on ad revenue falling. names like twitter, facebook, pinterest down in the premarket trade from 2 to 4% joining me is james chockmonk. you've seen those quotes right now. they're down, not down massively. snap obviously the epicenter of all of this. should all of these companies and investors in them be worried about apple's changes and is it going to be a lingering effect >> no, i don't think so. i think what you -- what you have -- the way you have to look at it is theway same way you look at regulation

which companies can navigate regulatory changes and in this case the regulatory changes are coming from apple where they have to operate in a new world with the rules that apple sets so the biggest companies that have the resource to do that will be able to prosper in the end and that includes amazon, google and facebook. but the niche companies have a harder hill to climb when you look at snapchat last night, that was an example of monster expectations with a monster multiple so it shouldn't be a surprise to see what happened there. i think the issue is, you know, we don't know exactly where the bottom is for these niche players like the snapchats of the world in terms of how much impact ios changes can have, and i think neither does snapchat. >> how do those companies -- how do those types of companies, the niche ones or the ones that don't have a broader range

flfl platform, how do they navigate the waters what do they do to get the add revenues back and growing at a decent clip again? >> well, first they have to change their mindset because it's been the advertising and the targeting has been predominantly delivered based off the data they can collect across the web through tracking and whatnot, but they have to increase the capabilities on the first party side and i think they have to think about more statistically driven advertising metrics that are not strictly roi based in terms of ad spend like the facebooks of the world. so i think it's a very difficult battle for them. what you're seeing right now, snapchat had to deal with issues where facebook copied them but this is the first time the newer niche companies are facing a secular change akin to the one

facebook had to change when the world was moving from desktop to mobile all the bigger companies have been tested in that regard that's where the bias needs to be in terms of positivity, i think. >> is there a view on your end, you're an investor in these types of companies, is there a view on your end as to which companies are better positioned to outperform given the visibility on this kind of, i guess, regulatory, so to speak, effort being made by apple and maybe others down the line >> sure. i think amazon and google easily in the forefront given the preponderance of the data and the first party data they're able to collect and gather facebook would be one step down from that, given the fact that they did have to rely on third party in terms of driving app install ads, predominantly in gaming and then it's everybody else.

>> who would you stay away from in that kind of environment the most which one has perhaps the most unclear outlook given what we've seen >> i think it's that everybody else bucket. you know, that includes the twitters, pinterest, the snapchats of the world anybody else if you're not big with billions of users and being a strict destination every single day for people, i think it's going to be tough out there. especially with the valuations that we're seeing. >> all right james cakmak, thank you very much we appreciate it. >> thanks. turning to another mover of the morning, intel is down big after reporting weaker than expected sales and blamed the industry shortage of the shrinking chip business. and pat geller telling cnbc he does not expect the chip shortage to level out until

2023 those shares down 10% right now. joining us is chris from raymond james. the computer chip shortage is something we've talked about for a while. why is intel the one bearing the brunt of this rather than the large cap, megacap brethren. >> we don't think the shares and the problems that intel has has to do with the chip shortage right now. the issue that intel has been dealing with, and why we downgraded the stock to underperform earlier this year, is they're well behind in process technology they need to catch up and they have a strong competitor in amd that is now leading the market what we learned from intel last night is the massive investment that they will need to make in order to catch up. this was pat's plan when he came on board earlier this year

they said it would be a 25 to $28 billion annual investment for the next few years and that has a big effect on gross margins. for investors bullish on the stock, what you have to accept is, there's a very, very strong investment you have to make over the next couple of years eating up most of intel's free cash flow for what we think is an uncertain return so we think that's the real issue at play here. >> is the dividend safe at intel right now given the free cash flow concerns and the allocation of capital towards cap x in this kind of environment, chris >> i think right now i'm not particularly concerned about the dividend itself. but i will say in our model for 2022 now, we do have them burning some degree of cash and certainly i think you have a scenario where they probably don't generate free cash flow for at least the next two years based on the investment they're going to make. they have a good cash balance, they have powering capability, i

don't think the dividend is at risk but free cash flow is at risk now. >> if you look at the competitive environment intel is dealing with, you mentioned amd before, the competition for investing dollars is big semiconductor have been a big part of the market, they're not far from record highs as part of a group right now. so if you have an underperform there, where do you go do you stay away from intel and go to nvidia it's amd are there companies that will outperform given what intel is going through right now? >> there's quite a few names we still like in the space. as you said, things are still in shortage, and the secular gainers are benefits for that. amd, as an example, we're quite sure if amd had more chip supply and used the supplier, they would be gaining more share. so certainly amd is one of the places we would go we're bullish on nvidia also,

been a good stock this year. they're also constrained and right now going through a good cycle if had their gaming products, in addition to data center products which is what really drives the stocks and in that case, both of those companies would probably be putting up stronger results than they otherwise would right now if they could get more supply. >> one of the things we talk about with regard to the supply chain issue, chris is just how much the auto industry has been affected by this is that going to be part of the story for a while now for the chip shortages are we going to see the chips make their way back into the system, and how long do you think it takes before the whole supply chain issue for computer chips really starts to resolve itself is it next year? is it not until 2023 >> at this point, the consensus from the companies and customers we speak to is we don't get back to any degree of supply/demand balance until the middle of

2022 there is capacity coming on line but right now as we stand here now, compared to three months ago, the difference between what the customers want and what the chip makers are able to supply has gotten wider it is going to take a few quarters what investors are worried in semis is a cyclical industry and any time you have shortages like this, the fear is they overshoot, start to build inventory. that's one of the reasons why the space has traded sideways for a couple of months now on the fear when things are good, they get too good and roll over. our view is the problem that happens in semis, the overshipment that happens isn't for a couple of years from now autos are a great example, go try to find a vehicle. it's going to take a while to rebuild the inventories of the components of the finished inventory just so you have

vehicle on dealers' lots >> big deal. chris, thank you very much we appreciate it. coming up on the show, more of your morning's big money movers including what has shares of boston beer falling flat. as we head to break some of your other top stories. western digital talks to merge with a japanese chip maker have reportedly stalled according to "the washington journal," as they say the talks are on told but could be revived at some point. western digital up facebook is struggling to detect and deal with users creating multiple accounts the issue is raising fresh questions over how the social media giant measures its actual audience. and robinhood ceo said its wait list for its crypto wallet has more than 1 million people making that announcement yesterday after robinhood

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navigate industry wide shipping disruptions. those shares up just about 6.5% in the premarket trade not the same story for whirlpool, a shortage of dishwashers and refrigerators will go into next year as consumer demand remains high delays has grown as it waits for parts. those shares down 3.5% in the premarket trade. stock three is boston beer, the maker of sam adams posting a third quarter loss, cutting guidance for the rest of the year because of slower than expected growth in sales of its truly hard seltser brand and wework, sales rising as they finally went public through a spac merger. a company that was once valued as high as $40 billion, but the initial i.p.o. plans imploded back in 2019

those shares down fractionally in the premarket trade after a big move yesterday on deck for the show, jon na-j na-jerian. if you haven't done so, follow our podcast, check us out on apple or spotify. again "worldwide exchange" audio fo format we'll be right back.

that's a live shot of washington d.c. right there. the capitol building, still so much happening, so many variables in seeing whether president biden's economic agenda goes through. it has some signs of life there. some of your top stories this morning. shares of evergrande on the rise in overseas trading after the chinese property developer

reportedly made a key bond payment. the company made the roughly $83 million payment today, according to "reuters," after missing it last month. that triggered a 30day grace period set to expire tomorrow. had evergrande missed that deadline it would have entered some sort of default situation in hong kong trading those evergrande shares you can see there, down 82% on a year-to-date basis but up about 4% in a premarket trade. still a long way to go. back here in the united states, president biden said he's close to striking a deal with democrats to pass his infrastructure and spending measures biden giving that optimistic outlook amid the internal party fighting during a cnn town hall last night but the president added raiding corporate tax rates was not likely to be part of the plan. with a separate minimum corporate tax proposal likely funding the new spending.

and atlanta fed president, rafael bostic said he expects an interest rate hike to come next year he said some of the economic challenges stemming from the covid-19 pandemic will fade and make way for economic growth one challenge he does not see fading is inflation. >> this is going to last into 2022 part of what the ultimate answer to how long this will take will be, will be how quickly we resolve some of the coronavirus issues as well as some of the supply chain challenges that are happening at a global level. >> bostic adds if the fed needs to take steps to control rising prices he will encourage the central bank to take definitive steps to prevent deeper damage. back to the markets. the s&p hovering near the record high while the dow looks to recapture its own fresh high we want to look at what's driving the action so far this month because that inflation

narrative has been a key part of that if you look at the two top performing sectors in the s&p, it is maybe no surprise, energy and materials. those two cyclical or economically sensitive sectors up 10% for energy and roughly 7% for materials. the s&p 500 overall is up 5 to 6% you can see energy and materials leading the way higher showing that real assets or commodities are some of the drivers of the trade as of the currentstate we want to look at the ten year treasury note yield indicating again, confirming perhaps an inflation narrative is part of the story. the ten year current is 1.69%. the reason why it's important, that's the highest level going back to may of this year you'll recall just about 1.76% was the high we saw earlier this spring that's going to be the level

if we get back up to those highs, that could be a sign again that persistent inflation story may be taking more hold. one place that'sinteresting that we want to focus on every time we've talked about inflation in the past we talked gold prices. these days gold prices aren't doing anything like they've done when inflationary parts have been part of the story right now they're locked over the last several months not doing much of anything you would expect in years past if inflation was part of the story that gold prices would be rising right alongside in that part of the market gold not showing signs of inflation while many other parts of the market are one of the key stories this morning is snap. those shares plunging as the company said ad sales are hurt

by privacy changies that a appl rolled out earlier to ios devices. snap's slump also impacting other major social media stocks, facebook down 4%, twitter down 4% alphabet, parent company of google, down 2%. and 3% declines for pinterest as well social media mataking it on the chin this morning. for more on where the options action is let's bring in jon najarian, a cnbc contributor a feature on the halftime report it's good to see you this morning. i wonder, as you talk about the market and where it's at, does it surprise you that we're back to record highs for the s&p 500 in such a short time and that it's those cyclical economically sensitive sectors that have led the way higher >> i guess it does a little bit, dom.

but like i say, i think the next batch of earnings will be really telling. for instance, tesla, tesla was one of those stocks that they actually deliver a product, just like apple is about to on what the 27th of october, they're going to be coming out with their earnings and these guys deliver products, rather than something that is ethereal, like you were just talking about, for instance, the social media stocks and how they track you. that's a different sort of business model, if you will, dom, than the people that tumly sel -- actually sell you things but the good news is that people that sell you things that come in boxes, except tesla, of course, that would be a big box, the people that sell you things we're seeing interest in those consumer discretionary names, dom. and that is one of the things that i think keeps driving the

markets higher just that the consumer is willing to spend, even though inflation has picked up dramatically, the consumer, at least so far, is continuing to put that cash out there >> and, you know, jon, where do you think that confidence from the consumer is coming from? and then, by relation, where is the confidence from investors in that consumer coming from? ultimately why is the consumer going to still be the driving force behind this next leg higher, perhaps, in the market >> well, you know, all the usual suspects, dom. pent up demand more cash than they've had they've paid down debt and so forth. i think the consumer is the one out there spending, whereas big business has been borrowing at a pretty frenzied pace and borrowing, as they should, because the cash is so cheap but the consumer, that's something that, you know, they can actually go out and do more

things now the tsa data confirm s that people are flying certainly in big numbers, it's not the business travelers i don't see a lot of people wearing suits that are getting on the plane right now, dom. it's a lot of people with pillows around their necks and so forth so that's a recreational flyer, not a business flyer we'll look forward to seeing those business travelers get back out there, but from what we've heard that may be a year or more before we start seeing that but consumer discretionary definitely a hot sector. i have stocks for you that we've seen flying in the last few days. >> i was about to ask you, what stocks are they? we talk about consumer discretionary, it's perhaps people think right away maybe amazon, i guess is the best way to do it right now given what's been happening is it just amazon and then

everybody else i leave out walmart only because i worry sometimes, because technically speaking it's a consumers staples country even though it's the biggest retailer bricks and mortar wise how do you play that trade is it amazon or do we look for smaller players out there to play catch up in terms of valuation? >> i have qsrs, i have quick serve restaurants like mcdonald's, big upside call buying in mcdonald's i'm looking here at the machine. we have earnings due out the 27th also in mcdonald's. and they've continued to bet on upside, upside, upside in mcdonald's and it's been climbing from, you know, the 230s up into the 240s and so forth, and a lot of the bets are that they will beat going into those earnings. tesla, that stock made that pretty dramatic reversal after selling off on the earnings

announcement and then zip right to the upside and now they're buying a ton of calls at the november 900 strike so certainly a big bet there i guess, not exactly a discretionary but definitely one of those things that consumers have just had almost insatiable demand for that kind of car. and just as you started off with, amazon we've had what an 8% move in two weeks, two and a half weeks out of amazon they continue to buy upside calls that expire at the 3,500 strike right now so, yeah, all three of those stocks seeing a lot of pentup demand and moving from the lower left to the upper right on the charts. >> amazon a key stock to watch for sure, not just there but elsewhere in the market for just about every index fund jon najarian thank you very much have a nice weekend, sir. >> you too dom thank you. that does it for us on

"worldwide exchange. let's check out the futures trade. the do w higher by 13 points, sp lower by 2, nasdaq lower by 50 points that does it for us here, "squawk box" picks up the c coverage coming up next. have a nice weekends moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right? and even save with special offers just for movers.

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good morning snap slammed the big issues putting pressure on the stock and other social players. and the fight against covid, the cdc expanding eligibility for booster shots and offers guidance on mixing and matching. plus board room battles. top management expert joins us with advice on how corporate leaders can both be loved and, yes, respected it's friday, october 22nd, 2021. "squawk box" begins right now.

good morning, everybody. welcome to "squawk box" here on cnbc we are live from the nasdaq market site in times square. i'm becky quick along with andrew ross sorkin joe is out today big day for the markets yesterday. you had the s&p finally hitting a record high. first time that's happened in a while, the longest time that's happened in over a year since it's gone without setting a new record but this morning looking at a mixed picture. s&p futures down by just over a point. the nasdaq down by about 45. nasdaq was up sharply yesterday, there was afterhours news that we'll talk about in a moment that reversed fortunes for the nasdaq and tech stocks treasury yields continue to climb. yesterday the five year closed at the