it is 5:00 in new york city and your top five @5 futures looking to add to an october to remember. low rates, cheap money and guidance from companies looking to power the move higher we are make big gains. somebody call the sheriff. crypto trading disappoints stock down 50%

democrats will unveil sweepg new package. it might mean a tax cut for many of you watching right now. we asked and you answered. today's rbi is about how much you think high prices and inflation are going to stick around results are this wednesday, october 27 this is "worldwide exchange. good morning good afternoon good evening welcome. we may have more record rallying up not a lot but now they are down this is what happens

either way gonna call that unched unchanged. s&p with 57 record highs maybe we'll get there today. stocks are up. crypto down. at 59 and change down about 4% also something we don't talk about that much a rough day yesterday. you can really thank hock heed martin now the worst sector over the past week.

up 22% that's the fastest pace since 2014 earnings topping $20 billion. microsoft up heading to 37%. unlike snap chat apple privacy changes. that look was in line with estimates. look at that on the flip side. robinhood now below on the huge miss that rimt owe trading is off likely to trade. shares up 30% and many retail investors may be losing money to

founders they are fill billionaires we are seeing a little bit of red. julianna tatelbaum is in our london news room that selloff over the half an hour we've got red across theboard negative momentum. missing guidance early on. now it seems as though global markets turning let me take you

to the big movers this morning bank shares taking a hit a beat on third quarter earnings with net profit and the german lender suffered a revenue hit santander posted third quarter net profit results boosted by a reduction of loan loss provisions. not enough to get the stock going. repo heineken reporting a beer sales drop it seems investors are a little cautious over what's to

come >> and maybe the only place in the world, at least heineken beer consumption is down. >> a big decision on vaccines for kids we have more. >> the fda advisory panel approves the vaccine to be used on kids 5 to 11 years old. the decision now goes to the fda which is expected to make a ruling on the matter it would expand the use of the vaccine to 28 million kids in the u.s. former vice president al gore launching climate change asset manager. gore was teaming up withi finane

yer to vest in solutions to limit global temperature rises to 1.5 degrees celsius and the ftc warns 1,100 companies on notice they will face fines if they make false claims to employees about making money. >> that al gore move as the biggest climate summit kicks off. we'll see you in a bit >> back to the markets and your money as the dow and the s&p continuing to bang out new record highs investors still pouring in your guest says don't get too

comfortable. it may be time for a pause and maybe one that refreshes handling over $3.3 billion we maybe need to get out of play, take the bench and take a breather we'll probably get a little pull back, maybe a point or two we'll see a new high on all exchanges. i think it is a wonderful thing. i would be bullish here. what is the driver

that was sort of a resetting in october. october gives me a bit of heart burn i remember the october 87 crash. i had taken an account and run up and i thought i was a genius. i went from 17,000 back to my original three i'm glad to get october behind us i'm very bullish >> you probably learned some hard lessons you are doing all right. you probably learned a tough lesson there at 22 everybody is putting more money

into the allotment every month more buying power, juice and cash it will go up. that's pretty much what is happening,right? bonds are almost like cash we look at cash buildup it will start to be deployed and i think you'll see a really good rally >> quickly, some semiconductor names we don't talk about much, if ever.

really >> i've been bullish on soxx, a semiconductor company. there is a lot of components that go into making a chip the wafer boards, there are companies that build that like brooks automation. you look at the technical, the way they are basing, they look like they are just getting ready to breakout of a 52-week high. i like breakouts these are getting ready to break out and really make many money >> kicking off the show. we appreciate it we'll see you soon take care. >> we are just getting started on this busy wednesday when we come back, democrats

scrambling around the tax proposal and millionaire tax one key member of the senate is on board could this mean a tax cut for you? and blackrock with an ad buy and alleged ties to china. the ad and the reaction ahead. later on, robinhood missing the target shares down some 15% retailers are not happy. busy hour rolls on right after this just ask your cvs pharmacist. we search for savings for you, from coupons to lower-cost options. plus, earn up to 50 dollars extrabucks rewards each year just for filling. at cvs pharmacy.

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welcome back to big money movers stock one, texas instruments revenue not great. dealing with continued supply chain issues issues with making parts shares down. and stock two, capital one expecting better results on a rise and helped by dipping into reserves setaside shares up 5%

still coming up, boiling details over commodity actions dr. j talked about it. he's here to weigh back in stick around >> announcer: today's big number, 90%. that's the share of global trade transported by sea according to the organization of economic cooperation and development. maritime trade volumes expected to triple by 2050.

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will this rally roll on today? i wish i could tell you because we don't know. that could change in the blink of an eye. earnings, cheap money, headlines. we'll see if the market takes a brief pause. we'll find out coming up. we asked you answered how long all of you believe inflation will last. a gentle reminder if you haven't already. the podcast following us down the road to d.c. tonight

i'm not going to listen because i don't like the sound of my voice and i know what i said follow on all the major platforms and listen wherever you are. we'll be right back. it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. 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.

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a developing story democrats closing in on a plan to raise taxes could also mean many of you

could get a tax cut. we'll dive in. google, microsoft and twitter, oh, my earnings parade marches on with big time numbers and stocks on the move robinhood trading slows down and the market takes a dip this is "worldwide exchange. welcome or welcome back. thank you for joining us stock futures down not denying the recent market rally. this has been an october to remember the s&p 500 hitting a new high

70 times this year it has hit a record closing high if somebody today takes you aside and says my gosh how many times does it hit the record high this year hold them tight and they'll say the answer is 57 they will praise you >> looking at bonds. a little pull back from the yield. still very, very low historically speaking of things not low we talk a lot about inflation and lower prices talking about something you probably use every day wheat. soaring and on pace for five straight months of gains if somebody pulls you aside and says how many months has wheat made a record high, it is the

first time it is up for the first time since 2007 educating. wheat used in a lot of things. now to the world outside of the latest in business and continued investigation into the death of a cinemetographer on the set of a film >> in an interview, district attorney said everything including criminal charges are on the table she also took issue with a description that a prop gun was used adding that it was a, quote, legit gun, an antique era. t a report that they used the guns for target shooting before the

accident occurred. the nor'easter in massachusetts with behinds hurricane-forced strength. the northeast drenched in heavy rain new jersey and new york about a month's worth fell in less than a day causing flash flooding here is one slammed into left field how about that start in the world series atlanta up 1-0 >> solar making history right out of the gate. the first player in history to hit a lead-off home run. a brave effort for more ton who through 16 pitches from fracturing his fibula. the braves take game one on the

road 6-2 game two a little after 8:00 p.m. always tough with our schedules to stay up for those games >> i want to repeat what you said cha cha cha charlie morton took a line drive to his leg and still pitched with a broken leg. >> that's right. >> he'll be out for the rest of the series truly amazing by morton, we wish him well thank you so much. now breaking news out of washington and details of democr democrats' plans to raise taxes on billionaires. good morning where do we stand now?

>> good morning. we are learning how that billionaire income tax would work as democrats try to find ways to pay for the social spending plan. raising the tax rate on anyone with over $100 million in income or assets. they could pay hundreds of billions in tax. spear headed by the senate chair who said, the billionaires income tax would ensure billionaires pay tax every year, just like working americans. this is aimed squarely at the very rich. democrats hope this could take effect next year and it would give billionaires five years to payoff their bill. tradeable assets like stocks

would be marked year to year nontradable assets nontradable assets would be due. determining if they are eligible, the irs is not going to know what your assets are trying to hold guard rails in the system even if you renounce your citizenship and move to switzerland, you would still owe all of those unrealized taxes. >> hold on here. repeating again what you said. billionaires would be responsible for reporting to the irs that they are billionaires and how many billions they have because the money will not be put into a bank account. so the irs couldn't even find out. so it is the billionaires we are going to be relying on

>> this is a problem and they know it. this bill would also come with some language to allow treasury to write rules as we know, those bank reporting measures are difficult we know who the richest of the richest are. those 700 names are well-known >> europe did try a wealth tax and it failed. it cost more to enforce it than they actually raised let's talk about something that might affect a little higher percentage of our viewership the cap on state and local taxes. some democrats would raise that limit. people where you are in d.c.

me, in new jersey, new york and boston who pay high property taxes. could there be a tax cut coming? >> yeah, so this is a problem politically with democrats i've been talking to lawmakers who are working on doing something. some options include raising the cap on the limit changing the people who would have to pay that tax or even getting rid of it all together for two years and adding that back for two years after that. it would mean if you are a millionaire, you may end up with a tax cut. a billionaire, you might have to pay higher taxes that might look back that's not going to fly with the entire caucus. >> fair enough listen, more people who are just

teachers and accountants in new jersey who their property taxes are above $10,000. i know people that pay $15 to $20,000 and it may be third rail for the progressive side we'll see where it goes. good stuff thank you. tech stocks have built a few billionaires in their time we talk about some, microsoft up first. first quarter earnings and revenue topping forecast it continues to benefit for the global shift sales from azure and cloud services jumping 50% 5-0. google topping with third quarter results. smaller companies pouring more money into digital ads and customers hopefully buying more products online. ad revenue topping 40%

twi twitter. third quarter revenue beat twitter's revenue isn't as tied to targeted ad as facebook or google i know you are usually on the 5:00 p.m., let's steel a play from the playbook of fast money gene if you had to pick better numbers, microsoft or google >> easy. google at 41% growth th that's the best in 14 years. google is the oxygen of the internet microsoft and google were even

the growth of google 41 compared to google's 22%, valuation is higher for google. the reason that one stands above here is that trend around google, could you argue around all big tech and around google is that it is as good as it gets if i think about those two companies. google versus microsoft. our dependence is greater. outside of that, google's other bets they haven't yielded outside i do think they have significant potential compared to microsoft which their other bet, if you will we have some august meanted reality initiatives going around with their howl lens in better position my vote is with google >> as you have said, google is the oxygenof the internet.

they have their own operating system they have a large stake in the digital online ad game 50% jump for some numbers. azure is growing they are clearly benefiters from the work at home trend >> absolutely. about double where it was when this all started this work and learn remote has benefitted a lot of companies. the significance is really hard to enumerate that impact will go on for multiple years we've talked so much about it. our behaviors are forever

changed. i think beyond what is priced into shares and maybe to put it into a different way going through the december quarter. i suspect that commentary will be similar about the continued dependancy of these companies and impressive results >> those numbers were impressive we'll see if all that gain is priced in. no time to get to twitter. we appreciate you coming on nice and early. >> thank you you set the standard, brian. thank you. >> well i'm the first one, so there we go. thank you. do appreciate that do not miss twitter cfo this morning at 8:40 eastern time talking their big numbers as well now a different story, robinhood missing its target big time a rough quarter.

among the low lights, crypto trading down nearly 80% compared to last quarter. stock revenue down 20% average revenue per user down. the dramatic change will have a rough rest of the year the stock now below that price and near 50% from the all-time high what went wrong for robinhood? >> i don't know that anything went wrong the third quarter, we are coming off historic activity. we had numerous viral things with gamestop.

i think most of us realized that i would say their trading results were on top of our model. it wasn't surprising at all flat in the third quarter. and they are tracking up 40% the question is is the fourth quart guidance where people were way off or is there something elsewhere they are slowing more. that is the key question

management has said they have been quote/unquote conservative. there is a lot of uncertainty two months out and what to expect >> answer some of your own questions. they kind of created their own market with the gamification of trading stocks with emojis and confetti others saw that, have come in and offered online trading do those customers that left robinhood to try out others. do they come back? >> ultimately answering that directly with some statistics. they are known for trading and that's driving revenues. branching into a number of new products that can be compelling. cash management with 25% of

customers. 5.5 million people using their cash management. so they are seeing really nice traction there they've seen 12 ipos, which is very differentiated. it is not only millennials that want access to ipos. seeing real traction in that business and we are just 12 months in. building out access to retirement accounts and a number of newproducts

if you do think they can leverage this balance sheet that stock down 10% we appreciate you for coming and laying it out. on deck. call this the gop versus the blackrock and billionaire founder larry fink they put out an attack ad. the president and blackrock's reaction ahead we head to break two other key headlines. first rent the runway raises $357 million expanding 15 to 17 million shares for $21 a piece to trade later today under the

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blackrock may be focusing on a new corporate identity focusing on esg and more. one group is taking offense to that ea eamon javers has more. >> coming under fire today from a small conservative nonprofit group. blasting the firm with ties to china today backed with a $1 million budget >> blackrock, the biggest money investment manager where are they investing china. pouring money in surveillance used by the chinese military >> saying this isn't motivated by the use in china but that

he's running these ads because he thinks blackrock has become too, quote, woke, unquote. >> the message sent to corporate america in the fact that they've become woke to their miss deeds and we'll come for you that includes blackrock, the worst in the business >> and he thinks blackrock's larry fink's stance on board room diversity making investment decisions with a core goal of environmental stability. they would not reveal who was paying for this campaign or release the names of any donors. confirming the size and cost of its ad buy

in research where the company is engaging in the political behavior created just like candidates in its battle reaching out and declined to comment yesterday. back to you. i guess in your report where it would move the needle. pouring money into it or pulling money out of it because they were so in line with china >> black vok not a company that would have enormous facing business not a brand known well you can move the needle because this is the first time a lot of people have heard of it. the question is whether blackrock would care or not. with $9 trillion

an enormous operation. this is the shot across the bow for everyone in this group saying, look, if you engage in this behavior they consider to be quote/unquote woke, we are going to run these opo ads against you and you'll face the consequences in the political arena. >> not a big consumer facing name my guess is they'll stay silent and move on. we have to move on thank you. >> fair enough >> on deck you're welcome how long you all guess inflation will stick around. a big call on an etf that paid

off. we'll talk to him next

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today's rbi has to do with inflation and what you think about inflation. is it short term or transitory all of you are pretty smart bunch. so we asked. if these huge price jumps will last less than a year, one to two years or more than two years. the answer split, leaning more towards longer than shorter.

38% say between one and two years and that this rocket will come back to earth a year from now. the fed, hopefully the biden administration hope to show you wrong. higher prices for things like groceries and gasoline have been the battleground all of you will see who has this longer rather than shorter may be bad news for the economy and politically. random but interesting let's talk about that with the man who knows more about that. boil natural gas and the cofounder of market rebellion.

how would you have answered that poll and your take on inflation? in a long enough timeline, everything is transitory. i think you'll see a big reaction at the polls in 2022. >> they've only gone up, up, up. truly incredible that goes into the input cost on things like fertilizer you talked boil and natural gas

etf. we are not seeing quite the same fevered inflation in that we are talking a fairly volatile impact on natural gas futures versus bitcoin futures. for that future to be valid, they have to keep rolling month to month and get that extra swap so it is not just a boost then they'll reset and go back to all of these levers. 2021 has turned out to be the

year of digging stuff out of the ground and making stuff all about metals and wiring and rebar. >> the $3 trillion plus bill that we thought would help in terms of the like. freeport pulls it out of the ground, nucor makes steel products those have moved up.

a lot of it is because people are repairing things and in many cases, these two stocks are at the forefront of what people need calling out bullish activity the year of digging stuff out of the ground we dig you >> god bless you have a great afternoon, brian. >> i'm jumping ahead to that >> jumping in the car down i 95 to washington for the big oil hearing. i gave you a tease tomorrow, four big oil ceos 9:00

a.m. getting grilled by congress on climate change. we'll have coverage all day of what could be an historic naring on big oil doot miss that "squawk box" is next have a great day 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. 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. 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.

good morning the fda taking a big step for kids as young as five years old. we'll tell you what's next new plans from democrats taking shape including a tax on millionaires we'll take you live to

washington robinhood shares are plunging. no one is trading bitcoin today. october 27, 2021 "squawk box" begins right now. >> modest declines averages were up a little bit. you see the dow futures up by about 15 dow futures up by six. one index to check out and one sneaking up on us, the dow