it is 5:00 a.m. at cnbc and here is your top five at 5:00. welcome to jobs friday how many workers joined or rejoined the workforce in october? we will find out in just a few hours. in d.c., the house preparing to vote today on president biden's spending plans but after tuesday's disaster for the democrats, will any kind of infrastructure get done? call it a rough ride shares of peloton running out of steam on weak sales and a bad outlook. vaccine mandates, some big business groups are not happy with the latest white house

directive. this as covid cases continue to crash around the country happy friday, your weekly insider buying segment is back, and this week returns with a big name that has not one, not two, but eight insiders buying the stock. that name is -- revealed later in the show. on this friday, november 5th this is "worldwide exchange. good morning, good afternoon, or good evening and welcome from wherever in the world that you may be watching, i am brian sullivan, happy friday, let us jump right in there's a lot to do, the s&p and nasdaq posting record closes yesterday, near on pace for their fifth straight week of gains right now. no indication of which way things are going to go nasdaq futures up. dow futures down a bit it's been a great week for most tech stocks, nasdaq up nearly 3%

since monday, which means unless it completely tanks today, the best weekly performance since april. the nasdaq is up nine sessions in a row since an 11 day streak ended in december of 2018 so we rise today and monday we tie that streak of nearly two years ago. also keeping a close eye on oil after opec plus stuck to the plan yesterday and snubbed pleas from the white house to pump more oil to help gas prices. opec saying they don't have the ability to increase output and worried about covid slow downs potentially in the winter. it's possible, probable that president biden could order oil released from the reserve all part of an effort to slow down the increase in gasoline prices. something people are talking about might happen there are more real estate worries in the china to report

another chinese real estate company missing a big payment to customers of its wealth management product shares were halted the company is second only to evergrande, remember them, in their debt load. the hong kong index falling another 1% in europe a mixed trade. some markets up, some down, no markets going in any clear direction. you can see it a programming note, all next week here we are going to be live to you from london, try to bring you a greater global perspective, we have guests lined up we'll talk about the looming possible energy crisis this winter tune in, set the dvr or check out the podcast later in the day all next week. staying state side and the top stories, including news we could finally see a house vote today on two big baills

bertha coombs is here with more that good friday morning. >> good morning. the house is expected to vote today on the bipartisan infrastructure bill and president biden's separate build back better act. democratic leaders have been trying to hammer out final issues to secure support for the social spending legislation. among the late changes last night, raising the cap on the state and local tax deduction or s.a.l.t. from $10,000 to $80,000 through 2030 in corporate news this morning, shares of peloton are getting crushed. the company reporting a bigger than expected loss and weakening sales growth peloton also slashing the full year outlook, citing softer demand for its exercise equipment and continuing supply chain issues. watching shares of uber today, its loss was bigger than expected in large part because

of a drop in the value of its holdings investments uber did post its first ever adjusted profit, meeting its timeline for doing that. and revenues did top estimates don't miss uber's ceo live on "squawk box" this morning, that will be at 7:45 eastern. so kind of a mixed bag, it'll be interesting to see what he has to say >> have you taken any ubers lately i have i know the prices in california and new york have gone sky high. i ask the driver, are you making more money and almost always t they say no. so somebody is making more money. >> it's hard to know, right. i'm not sure what higher infrastructure costs for the company there are. but i do know that lyft said their drivers were making more money, in part because, you know, since there were fewer of them they get more rides

>> yeah, the ones that are working hopefully are just working -- i always tend to ask. we'll see what happens with the uber results we'll see new a few minutes, thank you very much. turning to the broader markets. we're awaiting the october jobs number it is out later today, 8:30 a.m. eastern time interest rates are holding steady even as the fed announces the long awaited taper what happens to rates, markets and the u.s. dollar now? joining us is matthew hornback good to have you on the program. are you surprised that interest rates -- i mean, they didn't do anything on the taper announcement i guess the bond market's job is to anticipate such things, is it not? >> exactly right, brian. thanks for having me on the program again. investors knew this announcement was coming the fed has done an

extraordinary job communicating clearly to the market that this is what should be expected as the economy had made substantial further progress towards the fed's goals. the real question going forward is could they speed up the tapering process i think chair powell really raised a high bar for that we expect the process to last as the fed does, into the middle of next year. at which point the fed will have more information to make a decision about what comes next >> and what do you think does come next? they gave themselves the out on the taper. they could actually reverse their decision to taper off, they could change that in january but everybody is more thinking now about rate hikes in interest rates from the fed. estimates on the street from july of next year out to 2024, i think. where do you stand >> brian, our economists have the fed raising rates in early

2023 i think at this point that is broadly consistent with the dot plot that we received in september. i do think that there are still, though, questions about how the economy evolving next year and the fed, for its part, made it clear it's still very uncertain and it wants to see the next six months or so of data to get a better read and have more certainty about the outlook in a world where we're not dealing constantly with these, you know, waves of covid-19. that's really what the fed wants to see, is a more normal world and then assess what's the next appropriate step i would flag though, for your listeners, that it's not guaranteed that what comes next are rate hikes it's possible that the fed decides that this -- in this cycle, normalizing the balance sheet should have higher priority than lifting rates off

the zero lower bound that is going to be an interesting discussion to monitor over the next several months >> yeah, because if we get some of these spending bills done, we're going to add greatly to national debt. some people have argued, matthew, not wading into politics, don't worry, but as we add to the debt it almost becomes mathematically impossible to have interest rates go above a certain level >> brian, i think ultimately the biggest driver of interest rates in the united states is federal reserve policy and if they do begin to reduce the size of their balance sheet, it would almost certainly occur gradually, but that would put some upward pressure on interest rates. and further more, if the fed were then to decide to raise interest rates in the short end of the yield curve that would also put pressure on interest rates, even further out the yield curve. ultimately interest rates should go higher if the fed wants to

begin the process of tightening policy next year >> i'm also watching that brief inversion of the 30-year yield going below the 20-year yield. we'll see if that means anything get you back on to talk about that for now we'll get you go, start your friday. appreciate you coming on. >> thank you. you're welcome when we come back on wex, this morning's big money movers, and one producer of rare materials that all you cnbc viewers should know well. as we head to break, check out the chips, the semiconductor etf up about 8% in the past week cramer making a call, saying the sector is going to keep going higher a very busy hour still ahead when wex rolls on right after this have interruption times? from science austria, zentestine!

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all right. welcome back time for your big money movers and like the macro economy we're not immune to inflation on the show. because we're going to give you four stock stories of the morning. stock number one, pinterest sales jumping more than 40% in the third quarter. mostly boosted by demand from large retail advertisers seeing some sales for the holiday season and has not faced any material impact from apple's privacy changes to the operating

system stock two is square. demand for bitcoin slowed, imagine that the company's cfo does note volume picked up in october. stock three, airbnb, just blew past estimates on the strength of summer travel they also see a strong fourth quarter, that stock is up nicely people booking apartments not hotels. and stock 4, the bonus stock is mp materials. you know, this is the california rare earth mine that you've seen me in a few times in the high desert they dig up rare materials for magnets. it's said that revenue more than doubled in the third quarter on record output and shipments driven by strong global demands. they produced more rare earths last quarter than its

predecessor ever dug up in an entire year. they did more in a quarter than molly corp. at the same mine did in a year. still on deck here why a number of big business groups are worried and upset about president biden's latest vaccine mandates can they do anything about it? stay tuned we're back after this. >> announcer: today's big number 0.6% that's the share of all electricity used globally bitcoin mining accounts for. according to the consumption index. the bitcoin industry has a carbon footprint roughly the size of new zealand.

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for skin that never holds you back don't settle for silver #1 for diabetic dry skin* #1 for psoriasis symptom relief* and #1 for eczema symptom relief* gold bond champion your skin welcome back as the u.n. climate conference continues in scotland, some country's net zero goals have been in focus. a lot of new countries making pledges. but a new report shows many country's contributions are still out of line with the paris accord so after nearly a week at the summit, let's find out where we are. arna stall is the ceo of ftse

muz russell. we have a lot of promises, india promising 2070, that's 50 years from now are you happy or do you agree with where the countris' targets so far are >> good morning. thank you for having me. we published the report on the current climate targets and strategies of individual countries we've taken into account the latest announcements. and the projections that we give based on a science-based approach to understanding global warming trajectories, clearly show that current commitments, including the net zero commitments are not aligned yet with the paris 1.5 degree warming trajectory so there's much more to be done here >> yeah. and there's a -- i think even amongst that it seems to me, and

please correct me if i'm wrong, you're there, i'm not, you're the expert, i'm not. but when you don't have china showing up when russia, mexico, australia, which is a giant coal producer saying or not saying they're going to have any kind of target, what does that mean for the world? big polluters are not getting on board here >> it's very true what you're saying, that they're not committed to climate mitigation strategies and targets but the picture is mixed among the countries you outlined some of them have plans in place. net zero targets, some of them have them, some of them are missing. but by and large the current plans in place do not meet the paris agreement's target of 1.5 degrees. so yes, these are very big emitters of green house gases

and overtime we will need to see those plans that get us to the 1.5 or at least below 2 degrees warming goal. >> what does it mean for investors -- we've been at the climate summit dianna olick doing some amazing work this week, i'll be in london next week what does this mean for investors. you guys are a ftse russell group, you youcover everything o the business perspective what are the things from an investing side we need to know >> we do this analysis to provide information to decision makers if you look at the targets and how they are not aligned yet with the paris agreement and the 1.5 necessary warming degree trajectory, it sounds like there's a lot to do. but we see alot of progress as well in the investment world we see capital flow starting to move to be aligned with this

climate outcomes we're looking to achieve this 1.5 degree warming goal we see huge interest from owners, pension funds, several other funds mitigating climate risk and making their money work to mitigate climate risk as well just as we've seen a large confluence in the uk where 3 billion pounds was moved to -- from a standard benchmark to a benchmark that is aligned with climate outcome and we seethe trend accelerating so i'm hopeful that the financial community and investors have a key role to play here in meeting our climate requirements and let's hope, yeah, it's a big conference, that some concrete targets are not only just mouthed but they are met down the road. that's the key it's not the words, it's the action good luck in glasgow, i think there's another week to go a long way to go still

thanks for joining us. appreciate it. >> thank you. to big stories happening right now, including the new mayor of new york loves bitcoin, a gorgeous new world record, and businesses bothered by biden's new vaccine mandate. bertha coombs is with us now where are we starting? >> let's start with apple. apple is no longer going to require customers to wear masks in almost half of its stores starting today they will still be required for employees and in areas with local mask mandates like here in new york this as business groups including the retail federation have expressed concerns about the january 4th deadline by the white house requiring vaccination or weekly testing of all employees. the group says the deadline will burden businesses during an already busy holiday season. incoming new york city mayor

eric adams saying he will take his first three paychecks in bitcoin. i'm not sure how he does that, or how they'll do that the declaration came as a twitter reply to miami's mayor who said he would be taking his next paycheck in bitcoin spokesperson for the campaign saying adams would convert his pay into bitcoin via an exchange since the city can only currently issue salaries in u.s. dollars. and the indian city of ayodhya, forgive me if it's mispronouncing it, keeping the world record as it lit up over 900,000 lamps. about 1,400 volunteers set up the lamps along the banks of the river. this is the third year the city has received that official world record soon you'll be able to get the popcorn with the movie theatre butter outside of the movie

theatre. amc theatres announcing that it will begin selling microwaveable popcorn at supermarkets and convenience stores next year they plan to launch their own stores serving the freshly popop snack. one more thing at the mall you have to navigate the smell of the cinnamon buns and the popcorn as you're walking through. >> yeah. and just more reason for the amc a.p.e. trading accounts to be happy about. we'll call that the buttered popcorn trade as well. however they pay the mayor of new york, bitcoin, shiba inu, gold, i don't care. >> at least it's not dogecoin. >> any coin, how about this. getting the new mayor in there, new york coming out of covid there's a lot to be -- it's been a long 18 months in new york, i

was just there the other day, i know you live there, just getting a change in the city is probably a good thing. >> i think it is i think it is. it's long -- it's long awaited you can feel the pent up demand to get back out there. >> get back out there, have some fun, clean it up new york city is back on the rise i love to see it as well we'll get a cocktail at some point, bertha. bertha coombs thank you very much although not right after the show it's 6:00 a.m >> you pay. >> and something you can only do at the airport bertha, thank you. coming up, a live report from that place right there. the sun not yet up over washington the house preparing for two big vote s today and maybe a nice tx break for many of you watching and listening. if you haven't already follow the podcast, if you miss the show, crank it up, listen up, we'rgle ad you're up we're back right after this.

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good morning after months of debate, last minute negotiations, the house finally preparing to vote today on president biden's spending bills and a separate infrastructure package could it mean a big tax break for you? a live report from capitol hill straight ahead first it was evergrande spooking the global markets. now there is another chinese property developer potentially in trouble

investors are tagking notice. good news your weekly insider buying trading segment is back and this week returns with a big name you know that had eight insiders buy the stock. that name revealed in moments on this friday, november 5th. and this is "worldwide exchange." welcome or welcome back and good friday morning, everybody, or good evening if if you're in asia i'm brian sullivan, thank you for joining us futures right now, they are not giving us a lot of help in indication it is early, though, we have the jobs number coming out in about three hours time we are seeing nasdaq futures start to tick up a bit the nasdaq, by the way, is on a nine session win streak. today we finish higher that would be ten, monday we go up, that's 11. i say 11 because that would tie the 11-session winning streak

going back to december of 2019 bottom line is this, technology is on a hell of a run lawsuitly, how abo a run lately how about that the russell 2000 is up 9% in three months there are 43 stocks in the s&p small cap 600 up more than 25% in just five weeks seven of those are up more than 50% just over a month. and the top performing stock in the index, get this, it's a digital fax company called consensus cloud solutions, never heard of them, ccsi, sounds like a tv show, up 85% in 12 weeks so small caps have been on a tear let's get to this morning's top headlines and stories, including the house getting ready to vote on two big bills today ylan mui joining us with the latest

another day for you that's going to be like 5:00 a.m. to 5:00 a.m. potentially tomorrow. it's a big day on the hill >> reporter: well, you know, brian, lawmakers are supposed to go on recess after today so i hope they wrap this up quickly because democrats in the house are finally planning to vote on president biden's economic agenda today, both the infrastructure bill and the bigger social spending package now members were haggling over the legislation until about midnight last night. two of the outstanding issues were the cost and how to handle the cap on state and local tax deductions the congressional budget office has not provided an official price tag for the spending package just yet but lawmakers got an estimate how much revenue it would raise it's projected it would bring in $1.5 trillion in revenue over the decade now the biden administration said another $400 billion would come from enhanced irs

enforcement and it expects to save about $250 billion from negotiating the cost of prescription drugs all told democrats believe their plan generated 2.2 trillion in revenue, covering the cost and reducing the deficit in the long run. janet yellen endorsed the numbers saying congress has put together a pajage that is fiscally responsibility and critical for the future pro prosperity of our economy. salt would be lifted until 2030 and then go back down to $10,000 in 2031. of course, the senate has a different plan that means whatever might pass the house today will likely get changed in the senate later so they're hoping to pass a social spending package by thanksgiving, brian. we'll see if they make it. back to you. >> a lot to unpack there on the s.a.l.t. for people who live

where you live in new jersey, here in new york, nay have to love that. but a lot of the bills and pay fors seem to be sunset or accounting -- i don't want to call them gimmicks >> you can call it a gimmick. >> it fades out over years -- okay if you say i can do it i'll do it these darn gimmicks where they basically say we can't afford that so end it one year earlier because many of the politicians probably won't be in office anymore by the time these are out. once you give somebody something, it is very difficult to take it back, they know that. >> reporter: yeah, absolutely. so the s.a.l.t. provision is a prime example of that. one of the things that has been difficult about adjusting the cap is how much it would cost. and so, one of the ways they're sort of dealing with that is that the s.a.l.t. cap is set to expire anyway in 2025.

by putting a cap on the amount of the deduction after 2025, they're technically raising revenue and at the end of the day they expect this provision to be revenue neutral. meaning it won't cost anything at all the reality is, as you point out brian, is that in 2025, there's going to be another massive debate over what taxes look like and the bet that lawmakers are placing is that they'll be able to get rid of that cap altogether or lift it even more by 2025. >> yeah. i mean, it's not the perfect metaphor i guess but it's like you come home with a car and your spouse is like we can't afford that. and don't worry we're not going to keep it for five years we'll sell it after four that's what they're doing to say the car doesn't cost me 50,000, it costs me 50,000 minus 12 months of payments every time there's a complaint about the costs of something because they're not planning on raising revenue outside of increased irs audits which is probably going to be a tax to

the middle class in some way they're doing it by sun setting a lot of the stuff the s.a.l.t. tax, deduction, many of our viewers probably love it if you're in a high tax state, that's a break for many higher income people, not that there's anything wrong with that. >> it is and an economist pointed out on twitter last night, the original plan the house put forward at one point yesterday was to raise the cap to $72,500 at the end of the day they raised that cap to $80,000 and furman said that increase in the cap probably the entire benefit of that goes all to millionaires so it's difficult for democrats to square us showing us that -- which could see a net tax cut from the increase in the small cap, at least in the beginning. >> we don't need to get personal with alldue respect fto jason furman, that's wrong they'll get a bigger benefit

because they have more taxes to benefit from many middle class in new jersey, i assure you, will have the reduction. you can have an average home in new jersey and pay $15,000 in property taxes. >> the tax center estimates the average benefit to middle class households, those making up to about $94,000 a year, is about $20. and that the top 5% of households will receive about 40% of the benefit from raising the cap on s.a.l.t. >> i wonder if that's a national view because there are state where property taxes are low if you have a high property -- >> it is >> if you're a teacher and accountant in new jersey and you have a $500,000 home your property taxes are close to $20,000, so you were able to deduct ten, now you can do 20, i know they're not putting their

kids in college with that money. i know when you make the cut, it's called math, a small percent of a bigger number is a bigger number but there are people in your neighborhood that are not millionaires that do benefit, i hope. >> reporter: one interesting thing i will say, i spoke to senator ron wyden he said s.a.l.t. has never been about tax policy it's been about punishing blue states. so you can see how political this provision has been. both on capitol hill and obviously in individual neighborhoods. >> i think it got picked up, i'm not tooting the old horn here, when it came out, i called it trump's blue state pay back tax. i think that's all it was, we need to raise money, let's raise money from people who didn't vote for me. i it's going to be a long day for you, i've taken up enough of

your valuable time we we'll talk to you soon. >> thank you. let's give you a shot of other stocks to watch today. expedia, earnings and revenue beatings estimates, bookings up 117%, but are people getting out eating burgers shake shack posting a smaller than expected loss the chain's outlook disappointing investors still shares on the rise speaking of food, yelp benefitting from the reopen trade. the site posting much better than expected hearnings, amid te driving is increase in ads live nation shares rising this morning, the parent company posting a jump in sales as people return to in-person events higher demand leading to higher

ticket prices and spending at venn eyes. coming up, it is jobs friday tom por selly is here, why you need to pay attention to the jobs number and this week's election results he'll tie them together. reminder, follow our podcast wee ckft ts.'rba aerhi ♪ music ♪ ♪ dream, dream when you're feeling blue ♪ ♪ dream, dream that's the thing to do ♪ ♪ music ♪ when you see value in all directions, you add value in all directions. accenture. let there be change.

it is jobs friday and once

again there are some high estimates. the average gain for jobs in october is about 450,000 that's the average estimates of all economists out there the question is whether there are enough workers however as rbc's chief economist tom porcelli points out, tuesday's election also matters from an economic perspective he joins us now on the cnbc news line welcome. before we get to your jobs number estimate, i want to talk about the election results we're not politicizing it but jay powell's job may or may not be in focus the election results you believe could influence the economy vis-a-vis the federal reserve. tie them together for us. >> good morning. look, i think it's -- we continue to field questions on whether or not powell will get renominated and our view straight through has been that he would i think his odds, from our perspective took a hit after the trading issues at some of the

regional federal reserve banks but wethought he would get through. if you think about tuesday's election, if it's reasonable to conclude that, you know, some of what happened there was, you know, the voters basically saying hey, push things a bit back toward the center, then we think that that probably favors powell but renominated by the biden administration but, you know, the alternative for powell really was brainard, fed governor brainard who we all appreciate is dovish relative -- certainly relative to even powell so we think in that context, if the midterms are in focus for the administration and the team, you know, it might seem like a safer bet to choose a biden over someone who might be sort of more dovish so that was the tie in there we were thinking about. i don't think it's a game changer thing. we thought he was going to get in anyway, we think this sort of

solidifies it to some extent. >> but it also -- to your point -- may mean that if powell stays in, it's clear he's a smart guy he needs to be maybe a little more dovish for longer. right now headed into the midterms of next year after what happened on tuesday is no time to take your foot off the gas pedal with the exception of trying to maybe dial back inflation and as your colleague pointed out, maybe throw a little oil on the market, vis-a-vis the petroleum reserve. >> i think when it comes to the federal reserve, i don't think that -- i think this is reasonable, at least to some extent i don't think that powell is thinking to himself, hey, the voters spoke i need to be more dovish i -- you know, i just don't think that he thinks of the world in those terms and i think most reasonable people within the fed sort of would subscribe to the same philosophy so i don't think given what happened there means he's going

to be more dovish. the reality is, he has been pretty dovish. he's been more focused on labor than the inflation backdrop. i think he's starting to change his tone in that regard to some extent but look, i think the market for all the dovishness that he may have spoken about on -- during the presser i think the reality there is the market looked right through it futures pricing didn't change, rates market didn't really move. so i think they were looking through it to some extent. the market is still pricing in north of two hikes next year despite some of his dovishness >> quickly your estimate for the job's number today don't forget to talk about that. >> we're looking for 500,000 jobs i think that's a touch north of consensus, i wouldn't make a big deal of that. as you and i talked about last month and months past, the report is suffering from some

seasonal issues and they're having a hard time adjusting it. i wouldn't take too much from it if i if i leave with you anything, it's this, no matter what happens today, keep in mind we have a large swath of other labor market metrics that are all doing well, whether it's the adp report from this week, the confidence measures related to the employment backdrop, jobless claims, there's a host of other metrics driving home that the labor market is in fine shape right now and moving in the right direction. >> you are on the hook for 500, stamp it, i'll call 517 because why not. just guessing. tom, thanks very much. appreciate it. >> thank you. it is back a fan favorite, your weekly insider buying segment and one company with eight insiders snapping up shares this week we'll name that name ahead as we take a break, some other top stories. at&t and verizon delaying a 5g

r rollout. they'll work with the faa about potential interference with airplane cockpit systems and the government cancelled a contact with emergent bio solutions that is the vaccine maker that ruined millions of doses for j&j last year and had l -- regulators raised concerns we're back with insider buying and jon nainjurian next. egg in t to our clever money people. stadtfestungsbank. you rich. we make richer. translation is complex. transperfect makes it simple. our experts help your business succeed. in any market, any language, any industry. simplify global business with transperfect.

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it started with an idea... and became a new tradition. this is financial security. and lincoln financial solutions will help you get there as you plan, protect and retire. welcome back now for very good friday news insider buying is back remember during the quarterly earning season we take a pause on it because insiders have to take a pause but until the next round of earnings begins on january we are back. this is the companies whose insiders bought the most of their own stock with their own money. these aren't corporate buy backs these are people buying their own stock. we count you down five to one.

number five, doweldow. the next is kirby. stock number three is calix, that stock has been red hot, up 138% this year and the former chairman buying 899000 worth of the stock. the second most insider buying is the win we've been teasing a big name and a big story, intel. insider buying 998,000 of the stock, it's a board member but that's not the entire story. according to insider score.com this buy was one of eight buys by insiders in the past week who bought a combined 4.7 million worth of intel one of if not the biggest clusters of insider buys at intel ever eight insiders buying nearly 5 million worth we go with single

insider buys so the other seven didn't make the cut. and the most insider buying this week renaissance reinsurance, r&r, buying 2.16 million and the ceo was just one of five insiders buying a bunch of stocks the five biggest insider buys. the names to watch we'll do it again next friday right here on wex. let's stick to where the market action is and bring in jon najarian market rebellion cofounder and a cnbc contributor maybe we should do options activity on intel, eight different insider buys but you're looking at different options activity in some of the consumer names >> yeah. in particular, brian, these consumer discretionary plays have done exceptionally well in fact, i dare say we're seeing the most outperformance in that

sector i mean, tech is okay as far as what it's delivered so far. we've had some nice pops here and there. but nothing like you've seen in bed, bath and beyond or in coppery, the parent company of versace and a bunch of other brands those stocks have seen double digit jumps in the case of obviously bed, bath and beyond, 57% in a single session. those are the kind of things that will catch your interest, brian. for that reason, i figured i'd throw a couple of these consumer discretionary names that are also setting up nicely right now. >> yeah, and it's interesting, too, looking at your notes here, you have best buy, bby, bed, bath and beyond, bbby, hopefully people aren't making a ticker mistake, but it appears there's a lot of buying in these type of names. these are retailers that got the

you know what kicked out of them before they sometimes can be heavily shorted. >> yeah. and obviously people worry all the time, brian, do they really have the goods and by that i don't mean the leadership team. i mean, do they have what consumers are going to go in and buy in two weeks. >> the goods. >> yeah. in the case of best buy, our channel checks say they do they are stacked up. it almost looks like in the old days of a walmart where there's stuff in the aisles and everything best buy looks like they're really positioned for black friday and i've always said that one of the great set up trades every year is you buy these retailers at labor day and you sell on black friday or just a little thereafter they're buying the december 130 calls with best buy trading at about 127. so obviously that captures black friday and then some and the other one is party city, brian.

and i could make all kinds of jokes about that but man this one has been off to the races. party city was $7 or $6.50 stock two weeks ago. it's moved up into the mid 8s and they've been right and right and right. by that i mean they've been buying in here and they roll up and sell out those profits and roll up again. they're doing that right now, they're buying the november 9 calls with the stock at about $8.50 not a tremendous move. you can say if it's an $85 stock could it see 90, that sort of metric in this case the buys have been extremely large, tens of thousands of, you know, a stock that basically makes a lot of money around the holidays. you know, whether it's people getting ready for thanksgiving or, obviously, just past halloween, party city is set up for that nicely. >> and maybe a stock that the

apes might like as well. one of these formerly beaten up names off consumer retail, totally separately also, never heard of the company, ui path,path is the ticker. robotic play as much as i understand it. >> exactly they're buying 12,000 of the november 60 calls. that's what this stock, trading at about $57 a share so automation and this one looks like it's set up nicely. so i'd say a two-week hold on this one, brian. and the call buying was, like i say, 12,000. it's 1.2 million share equivalent that's a big purchase at about the same level you were just talking about intel as far as the dollar commitment. >> yeah. jon najarian, bringing the path, bringing the party, bringing the best buy we're going to buy a tv, a

purse, some plates and then wear a hat and throw cone -- confetti we just summed up the entire segment. thank you. thank you for watching "worldwide exchange" all week. we are live from london next week picking up coverage on a jobs report friday, "squawk box" is ve gat ha are weekend take care. it's another day. and anything could happen. it could be the day you welcome 1,200 guests

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good morning vaccine mandate backlash business groups pushing back against the january 4th deadline for large employers. their reaction is straight ahead. in washington, the house preparing to vote today on president biden's spending plans.

but after the democrats' election night disaster can an infrastructure bill make it through congress make it through the house? it's already been done in the senate it's jobs friday tell you what to expect from october payrolls it's november 5, 2021 and "squawk box" begins right now. good morning, everybody. welcome to "squawk box." right here on cnbc i'm andrew ross sorkin along with joe kernen. becky is off on this friday morning, jobs friday as joe mentioned. u.s. equity futures ahead of the numbers. let's show you where things stand all of this likely to move around at 8:30 when we get the numbers. the dow looks like it opens up 21 points higher, nasdaq 71.5 points, the s&p 500 up