just one more day. one more day. one more day left in one of the most consequential elections in our lifetime and momentum is on our side. >> you show up and you're going to have the biggest victory. you know what this will be? the single greatest victory politically speaking in the history of our country. >> presidential candidates kamala harris and donald trump making their final push into election day. what both are calling one of the

most important elections in u.s. history. investors bracing for any outcome gaining what a red sweep or blue sweep or mixed congress could mean for markets in 2024 and beyond. breaking overnight. >> tonight, our members voted to accept this contract by 59%. you know, it's time for -- it's time for us to come together. this is a victory. this is a victory. we can hold our heads high. >> union workers at boeing ending the strike and voting in favor of the new contract. the nearly eight-week strike is over. it is election day, tuesday, november 5th, 2024. you are watching "worldwide exchange" here right here on cnbc. ♪

good morning on this election day. thank you for being here with us. i'm holfrank holland. let's get you ready for the trading day ahead. green across the board. the dow looks like it would open up 35 points higher. nasdaq is doing better than that at 61 points higher. investors in europe are watching for developments in the u.s., especially when it comes to the election. let's take a look at the european markets. also in the green across the board. the ftse 100 up .13%. the ftse mib up over .13%. we want to look at bond markets. bond yields have moved higher on the so-called trump trade. right now, about 4.3%. always noting the two-year well above the 4% yield. the long bond almost at 4.5%. this is a read on inflation expectations. we want to look at oil specifically. take a look at the oil market.

in the green. wti up over .50%. trading above 70 bucks a barrel. a key sentiment level. brent crude is above 75 bucks a barrel. that is the morning set up. let's turn attention back to this morning's breaking news. >> tonight, our members have voted to accept this contract by 59%. it's time for us to come together. this is a victory. this is a victory. we can hold our heads high. we all stood strong and we achieved something we haven't achieved for the last 22 years. >> union machinists for boeing voted by a nearly 59% margin.

it's also delayed the delivery of hundreds of the jets. the contract includes a 38% increase over four years. up from the previous offer of 35% along with the ratification b bonus. in ha statement to workers, kely ortberg said this was difficult for all of us. we are all part of the same team. ortberg adding there is much work ahead to return to the excellence that made boeing an iconic company. workers return to work as early as the first shift today. phil lebeau will have more on the story coming up. turning attention back to the campaign trail. harris and trump making their final pitches in key battleground states. our eamon javers has more on what investors should be

watching. eamon, good morning. >> reporter: good morning, frank. former president trump spent the day in three battleground states on monday. starting off in raleigh, north carolina, before crisscrossing the state in pennsylvania with stopping in reading and pittsburgh and then a rally in grand rapids, michigan last night. trump was surrounded by family on stage hitting his themes are immigration and suggesting if he loses, gas prices will go to $15 per gallon. it was the north carolina stop that raised eyebrows among political experts. that's the one battleground state that trump won back in 2020. it may be an indication of worry by the campaign that he was on the ground shoring it up on the final day. one potential problem for trump is the economy has been strong in north carolina since 2020. take a look at the snapshot of the economy and inflation numbers on the far right-hand side of the chart. you can see there the inflation

rate in september was 1.9%. well below the national average there. vice president kamala harris for her part spent her final day campaigning entirely in pennsylvania underscoring the importance of the 19 electoral college votes in that state and making remarks in allentown and pittsburgh and philadelphia. she had momentum on her side and instead of seeking to jail people who disagreed with her, she would quote give them a seat at the table. one worry for the harris camp is the inflation rate in pennsylvania. you see on the right-hand side of th of the chart. that has been the biggest issue on the campaign trail. we expect donald trump to end the day today in florida and vice president kamala harris at the vice president residence where they will each hunker down and wait for the results like

the rest of us. frank, back to you. >> we will cover it all day on cnbc. eamon, i know it is a busy day for you. let's get back to the candidates in key swing states. do you see a change in the message they are delivering to voters? >> reporter: it was a doubling down on the election themes. we saw kamala harris with the effort to avoid mentioning donald trump by name which was interesting. the campaign wanted to close on a high note not attacking donald trump. trump, for his bizarre series of incidents. an incident last night where he used an expletive with nancy pelosi or simulated sex act with a microphone. these are not something you would want to do with the last days going in the campaign. these are the three for trump and the voters know who he is.

he is as familiar a figure we had in american politics. today, the voters will decide if they want four more years or not. >> we will get to know you better throughout the day. i know you will have full coverage. great reporting today. reminder for the audience. election day. cnbc will be live all day and all night as reactions come in. our special starts at 7:00 p.m. from new york stock exchange. we will have live coverage in the other night hours. me and brian sullivan and contessa brewer and then at 5:00 a.m., "squawk box" will pick up coverage and have everything you need to know. please stay with us. time for more on the election and the markets as voters head to the polls. craig johnson joins us now from piper sandler. >> good morning, frank. >> in the days leading up to the

election, we have seen the market slide a bit. i want to get your take on this. is this just election volatility or is there something else in play? >> frank, i think this is just election volatility. a little bit of uncertainty among investors at this point in time. if you step back and put it in the scope of history, this is the fourth best return for the s&p 500 in the election year. positive 19% is a pretty strong -- pretty strong year so far, frank. >> so, you are going to the historicals. we have to go through them. especially on election day. according to your data, since 1900, basically for a century and a quarter almost, the s&p is up 1.1.75% from election day through the end of the year. the russell is up nearly 3% from election day to the end of the year. do you see history repeating itself after this election?

>> frank, thisis great base case and think about how the market has performed going into the election. for my perspective, equity markets, dow, s&p, russell, they usually advance from election day to the indivend of the year. frank, you typically see the russell out perform 82% of the time. putting all of these probabilities together, i think equity markets will be fine win, lose or draw whoever is in the white house or whatever the makeup in congress. frankly, frank, if we get a split congress, that stuis actuy a pretty good outcome for investors. >> i want to clarify. you gave us two sets of the data. you believe the markets will be fine from now until the end of the year. the -- we are entering what

historically has been the best six-month periods of the year. according to your data, november through april, following the election, of course, average gains are 5% and positive 71% of the time. i have to ask this is a bit of a different scenario and time horizon here. we will possibly hear big policy announcements and changes to the tax policy. do you see that playing out? >> frank, i absolutely do. that's why a couple of weeks ago we did up our 2024 year-end target to 6,100 and established a 2025 target of 6,600. i think there are a lot of things said on the campaign trail, but when it finally gets to the point of finally getting the policies implemented, you find it is more difficult to get it done and depending upon what the makeup in congress and to get these things passed is challenging. the issue of tariffs is more of a bargaining chip than anything

else. what he actually gets done is something different than the reality of what is said this point in time. >> craig, you gave us a couple of stocks to watch. i picked three with earnings. what is it about these stocks in particular? any theme in these? you like them as individual stock stories. >> i like the individual stock t stories. what i like about ring is the bottoming out. the technical trends on globus is the moving average. what we are find in the market is stick with the trend and relative puerterformance. if i throw out a couple of other names f you are looking to pick up on efficiency, think of a company like toast. these are companies that are bottoming out and making improvements. also think about food.

lots of discussion about making the food quality in the u.s. better. bell ring brands would be one and united natural foods would be two other ways to play that. >> craig johnson from piper sandler, thank you very much. >> thank you. we have more to come on "worldwide exchange," and the one word investors have to hear today and the stock pick every investor needs to know. first, what some are calling the most compelling election day trade. the case for small caps and election day volatility and investor uncertainty. we get portfolio perspective with the cnbc adviser 100 list. moren othe boeing deal and the end of the strike and what's next for ceo kelly ortberg. we have a very busy hour still ahead when "worldwide exchange" returns.

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welcome back to "worldwide exchange." it was a mostly negative day of the averages. small caps and the fed decision on thursday. small caps are interest rate sens sensitive. let's bring in steven at jeffries. good morning. welcome to the show. >> good morning, frank. thanks for having me on. >> steven, let's talk about this for a minute. the s&p and nasdaq are sliding into election day. then yesterday, the pop from the russell 2000. there are two things at play. the so-called trump trade with bond yields or currency or the fed cuts. 98% of traders tracked by the cme with a quarter point cut

this week. which one do you see? >> we are in the same camp with the lower interest rates have been better for small cap because of the idea that, you know, they have a lot more floating rate debt. with that, lower interest rates and economic back drop will be more helpful for small caps. the other thing is they are playing a game of catch up. believe it or not, it has been out performing since june 30th. it has been a lot more fits apparent starts. >> you don't see any election impacts. this is confident. >> surely it is. some of it definitely is the idea around the election. we've done work and 2016 and 2020 out performed in the election in both of those years and had pretty significant runs there. i think the election becomes an event and we are able to move on

from that and then small cap takes the lead heading into, you know, the end of the year. >> okay. one question, it seems like there's two sides of quote/unquote trump trade influence. t the idea of domestic manufacturing. the other side of the coin, some of the policies that former president trump has put forward are seen as inflationary. wouldn't these hurt? >> frank, in terms of our historical data, higher inflation environment is good for small cap companies as you are usually able to pass it along. by being able to pass it along, you are able to get better earnings growth. you play a bit of a game of catch up there. that's been the whole thing has been large cap companies delivered much better earnings versus small cap. anything that's going to change that dynamic puts you in better footing. >> overall, as we heard from

small caps, we had tom lee belief a 50% rally in the small caps. you are laughing. as we look now to the end of the year, what move are we talking about? do small caps out perform? is there a double digit move in your mind? what are you seeing? >> well, 50% is a little aggressive. >> it was earlier this year, in all fairness. >> the other thing is we're up by 10%. that is our forecast -- that's our base case heading into year end. small cap out performs by several hundred basis points. if you look at the target, that would get you 10% return. that is no different from 2016 to 2020. you had double digit returns in the last two months of those two years in particular. >> okay. steven, thank you very much. >> great to be on. thank you. coming up on "worldwide exchange," a triple chip threat

as the trio of semi stocks forecast a ru quough quarter ah. we'll have much more on it when "wor "worldwide" returns.

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welcome back to "worldwide exchange." mark shares on marqeta after weaker guide even in q4. shares are down 39%. the company says current quarter sales will rise 10% to 12% year over year. the forecast was 17%. the miss is tied to quote heightened scrutiny of the banking environment and customer program exchange.

shares are now down 80% from the peak in 2021. the company went public in june of 2021. shares of marqeta down 39%. turning back to your money in a volatile day with the election and the fed decision on thursday and if there is one thing the volatility brings is uncertainty. uncertainty of positioning and long long-term goals. to ease the concerns and offer helpful financial advice is eric m mancini. ranked number nine on the fa 100 list. >> that's the goal. >> this is your chance. >> at least top five. >> they will weigh this interview on that decision. >> all right. >> we have a lot of people coming on who are financial advisors and saying the election is an event, but doesn't impact the markets. if you are a long term investor, et cetera.

is there any outlier situation? >> we agree for the most part, but the outlier is a hard sweep. >> either red or blue? >> that's right. for now, you know, it's very tight. nobody knows. we're not taking any specific positioning, but if there is a hard sweep, yeah. if it is a hard red sweep with trump in the white house -- >> what are those things? >> i've give them to you. i was trying to make you wait to build up the anticipation. i would say bonds are not the thing to buy if trump wins. we would be a seller. longer term bonds, we would be sellers. most stocks would do okay in that situation. i'mbitcoin, act actually. that has been an issue with the

trump or harris win. there are different sectors to play as well. semis, if trump wins, he would open that up with legislation. maybe supply increases. you don't want to be in energy stocks. if a harris win, bonds are the place to go. maybe ease off stocks for a period of time. if there is a significant correction, you want to pounce on it. >> if harris wins, you want to ease off stocks. why is that? >> especially with harris and a demes sweep. you know, there is a chance of higher corporate tax rates f. that's the case, it's just math. you do maybe get a 5%, 3%, 7% correction. in that case, you want to take advantage of it mostly. yes, we agree elections are short-term. mid to long term, stick with your long-term plan. >> this is the first election in a little bit of time that we

have seen the economy going pretty well. i think some people would say it is going great, but it depends on your income and the industry. i think most people would agree it is fairly well. an increased chance of harris or trump or whoever wins, actually getting their policies getting through. they don't have a distraction of the pandemic. can the term of this next president change a long-term thesis? >> probably not. when we sit with clients, we really go, you know, 5, 10, 20, 30 years. the thing with a hard sweep either side, it is a lot on the estate side and tax side is where it could make an impact. so, we're working with clients now depending on the split of congress which is also unknown and the trump tax cuts coming up for renewal and maybe expiration for 2025 or preparing for

changes if there is a dem sweep. >> our friends on cnbc.com and cnbc pro had stocks benefit from the trump victory and harris victory. tied to steel and cleveland cliffs. on the harris side, evgo. if you are an investor, you can get that granular of steel if it is trump and energy stocks or clean energy stocks if it is harris. >> to a degree. under a trump win, you want to be cyclical. you get the opposite. harris win, i would say defensive stocks. maybe consumer staples. long bonds. >> eric mancini, great to have you here. >> thanks a lot, frank. > mi up "worldwide exchange," with the boeing strike in the rear-view mirror, we layout the next challenge for

ceo kelly ortberg. we'll be right back. ♪♪ at state street, we know everyone's trying to get somewhere. ♪♪ take the next step toward your future, by investing in the s&p 500 with spy. getting there starts here.

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and get one free for a year. we're going to turn our country around. i will end inflation very quickly. you know how we will end it? by drilling and drilling and drilling. drill, drill, drill. energy is going to bring it down. >> together, we will build an economy where we bring down the cost of living, we will b ban corporate price gouging on groceries, we will make housing and child care more affordable. we will cut taxes for workers,

for middle class families and small businesses. >> former president trump and vice president harris making their closing arguments to americans last night. deciding the path for their wallets and economy over the next four years. welcome back to "worldwide exc exchange." i'm frank holland. first, let's get right to another major story this morning. we have breaking news on boeing. members who have been on strike for weeks voting in favor of the contract. let's get to phil lebeau for the latest. phil, good morning. >> reporter: frank, 59% of the machinists who voted for this contract or voted on the contract approved the deal. 33,000 members of the machinist union voted for the deal. this is the third vote over the course of 54 days. this time, they got it across the finish line.

59% approved a new four-year contract. 41% said no. here's the reminder and the contract, basic tenets here. 38% raise over four years and enhanced 401(k) match from the company relative to the previous contract with what they were working on before the strike. you have a $12,000 signing bonus. you can take all $12,000 or $7,000 and a deposit in the 401(k). here is the union leader talking about how hard it was to get the deal done. >> this is a success. this was a win. it was a hard bargaining on both sides. there are always hard feelings. we'll get through it and get back to building airplanes. >> reporter: all right. what's the cost here in terms of what this means to boeing? the estimate this strike was costing the company about $1 billion per month.

that will go away once they begin production again, which, by the way, will start tomorrow, frank. it is not like everybody comes back to work. some workers come back tomorrow. they all have to be in by early next week. the strike's over. why isn't everybody going back to work? it is not like they all walk in and go boom. you have a production line that needs to slowly get back in gear and you've got a supply chain that has been disruptive over the last 54 days. it will take a bit of time. boeing has its sights set of getting production back up moving up to the 38 per month by end of year. >> all workers back next week. >> frank, let's clarify. some start tomorrow and then they are all have to be back next week. >> all have to be back november 12th. i want to get to kelly ortberg.

we talked about having to get the capital raise done and the contract done. what's next on his agenda? >> reporter: the most important thing is to slowly, but clearly and definitively get production moving higher and that means you start it up, it's going to take some time, once you get that going, then you have to start to increase production moving forward 38 per month. as you go into '25, we're talking about the 737 max, by the way. as you go into '25, moving beyond the 38. that requires the approval of the faa. ortberg will produce the planes the way they should be produced. beyond that, frank, the next step of integration of spirit systems and that merger and that deal. once they get past the impact of the strike, then they will start working on that.

>> phil lebeau saying workers get back to production today. gradual increase. >> reporter: tomorrow, frank. >> tomorrow. i know you will be on top of this story. look at boeing shares up 2%. phil, thank you very much. time tfor a check of u.s. stock futures. in the green across the board. s&p up fractionally. the dow opening up 50 points higher. the nasdaq is the best performer up .13. we look at the biggest gainers on the nasdaq 100. dollar tree at the top. shares up over 3.5%. followed by pdd holdings. this is a chinese tech company. shifting as tesla is taking the number two spot. arm holdings and vertex rounding out the top five. the investors in europe are watching other developments here in the u.s. for their inn vvest

investments. in the green across the board over in europe. the ftse 100 right now is the best performer up .25%. we want to check this on the bond market. the ten-year yield at 4.3. the two-year at 4.17. let's do a quick check of oil. oil moving higher. wti above $70 a barrel. similar story for brent crude off the highs, but still above $75 a barrel. that is the key sentiment level with brent crude. that is the money set up. let's get to the story of the day. election day. voting throughout the eastern part of the country set to begin in 30 minutes on election day. the six voters in dixville notch already giving a first look at what a tight race it will likely be between former president

trump and vice president harris. voting taking place after midnight with trump and harris each earning three votes apiece. both candidates in battleground states in pennsylvania and michigan selling their ideas for the next four years. in morning, it is a dead heat. harris and trump are neck and next neck right now. checking shares of trump media and what has been a volatile few days of trading. right now, djt up 5.3%. let's get more with clayton allen at eurasia group. >> thanks for having me. >> a very, very tight election according to the polls. when we talk about the markets, what are you expecting on this election day as all of us are trying to figure out what happens next? >> so, i think we're looking today, as you said, basically a

dead heat. we favored trump and the last few days has taken the confidence out that trump was the marginal favorite. at this point, the race is neck and neck. the madison square garden peach a speech and harris gaining momentum. this indicates this is neck and neck and that means for us, this is an exercise in risk miti mitigation. people don't want to be surprised by whatever result happens today. >> when you say people don't want to be surprised, what are your clients doing to avoid the surprise or negative shock? what people are trying to avoid is the candidate winning? >> i think what you see are people unwinding the trump trade they laid on in recent weeks. perhaps, that is to be expected. you see betting markets close in. we see betting markets as an

imperfect direction. it is a good sign of dire directionality. you have seen betting markets tighten up. participants believe this is more competitive than it was 10 or 15 days ago. >> with that in mind, what are you expecting from the currency market and bond market that seem in recent days move higher when we talk about yields on bonds and currency moving lower? i'm mixing that up there a bit. both of those markets moving on the idea that trump was the favorite. what kind of action do you see there? >> so, i don't want to get too far out on my skis over this. what you are seeing across the market, people recognizing trump is still marginally a favorite in people's eyes. i think a lot of participants and investors are saying maybe we were overbidding and pricing the advantages that trump had built in and the advantages in

the electoral college. those seem to be paying a lot more attention to the harris ground game and the strength to get out to vote. maybe expectations back toward harris has just as good a chance to win this thing as trump. >> we won't see an immediate resolution and this could drag on for a few more days. in your mind, how does that impact the investor? >> i think uncertainty is a negative in any scenario. it doesn't matter who wins if you see this as not being settled for white a while. the one thing i will say you will get some size of how this is unfolding on election day. georgia and north carolina will report quickly. i think michigan, wisconsin, you will have a good idea of who won those races probably by the middle of the night if not early in the hours of wednesday. the issue becomes pennsylvania, it becomes the place where the vote count is delayed and might

take several days. if the race is coming down to a single state, it creates uncertainty and volatility for equity markets and sense among investors do i second guess the moves i made right before the election? do people start trying to shift their position and does that create a churn? that is the biggest impact. >> clayton allen, thank you very much. >> thanks for having me. >> reminder for today, cnbc is live all night and bring you results as they come in and reaction from the biggest names in the markets and business. it starts at 7:00 p.m. east frern the new york stock exchange. we will have live coverage in the overnight hours as well. me and brian sullivan and contessa brewer will have more on the results and global market reaction. "squawk box" picks up coverage tomorrow at 5:00 a.m. the normal time you see "worldwide exchange." "squawk box" will everything that involves you and your money. coming up, big money movers and palantir shares are surging

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you need tamra, izzy and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. welcome back to "worldwide exchange." time for the big money movers. three big stock stories of this morning. shares of palantir are raising the revenue guidance for the third time. the firm is betting on strong spending from government customers and rising demand for services for companies looking to adopt generative a.i. tech. shares are tripled this year. dollar tree ceo is stepping down and vacating his role as chairman. the board naming an interim ceo.

the past few years has been challenging for dollar tree. take a look at the chart. the stock is down 50% this year. shares are actually up on the news. up just about 4%. taking a look at chip stocks. a trio of them. under pressure. nxp guiding for fourth quarter revenue on uncertain demand and broader macroeconomics weakness in the americas. shares down 5.5%. lattice missing q3 forecast and cutting 14% of the work force. shares down nearly 18%. and cirrus logic with the revenue guidance below estimates. shares down just about 10.5%. coming up, we have the one word that every investor needs to know today, plus call it a post-election odexus. robert frank are looking at why

wealthy americans are looking for homes overseas no matter who wins the election. we're right back after this.

welcome back. no matter who wins today's presidential election between vice president harris and former

president trump, one thing is clear. wealthy americans are looking to set up shop at record levels. robert frank has more on this story. robert, good morning. >> good morning, frank. wealthy americans are, indeed, applying for second passports and residencies in record numbers. advisors say applications for investment visas and passports are up 30% from last year and many are citing the election. the survey by argen capital found 53% of american millionaires are likely to leave the u.s. no matter who wins. >> the majority of clients are very successful business owners and entrepreneurs. a lot of leaders in the tech sector in the silicon valley. for them, it's building a portfolio of options around the world. >> so where are the wealthy going? malta is the new status symbol

for second passports. you can get citizenship and live anywhere and work in europe. st. lucia and antigua are also popular. for permanent residences, portugal requires an investment of 250,000 euro. greece, spain and italy are also big for americans. the prices are going up. greece nearly doubled the price of its golden visa for parts of its country. for more on the wealthy, check out the inside wealth newsletter at cnbc.com/insidewealth. frank. >> robert, you are the only person i know who can make geography fun. malta. what is the other one in the caribbean people are going to? >> antigua and barbuda. that is another popular one. >> i have been to antigua.

it all makes sense to me. robert, on a very serious vote. is there one particular candidate that is causing the wealthy to leave and a reason in particular why they want to leave? >> it's both sides. you have some of the wealthy afraid of a trump administration. some of the wealthy are afraid of the broader gains taxes for harris. some are fatearful of the political unrest with the possible outcomes of the election. it is not that they are actually going to move. they are making concrete plans to move just in case. this is the first election that we've really seen it on this scale among the wealthy. it is common for people to say i'm going to move out of the country if so and so is elected. this time they are taking and making these plans.

>> a frank and frank special going to malta and check it out. >> i love it. sounds good. >> robert frank, thank you very much. coming up here on "worldwide exchange," the shipping stock nearly up 150% this year and our next guest says is just getting started. we'll reshveal the mystery char coming up. if you hav you miss us, foln our podcast with your favorite podcast app. we'll be right back.

welcome back to "worldwide exchange." here's what to watch today outside of the election. another busy day for earnings. dupont, yum brands and burger king restaurant brands and ferrari and microchip technology. that will be closely watched. u.s. markets are coming off a negative session as traders

are cautious ahead of the election. the s&p is up fractionally. the dow is up 45 points higher. joining me now is greg branch. founder at branch global capital advisors. he is a friend of the show. good to have you here. >> frank, my pleasure. >> it's election day. what is your word of the day? >> my word of the day is predictable. if there are things that are predictable on election day, it will be a catalyst no matter who wins. the reason it is a catalyst is we get to do away with certain uncertainties, if i can say both conjoined. there's lots of rhetoric that comes with being a candidate that doesn't transition to someone acting in office. whether that is taxing unrealized gains or across the board tariffs, there are lots of

things that have no hope of making it into policy. they will get rid of consternation and get rid of the possibilities. secondly, they both served in the executive branch. we know what their priorities are and for harris administration, we know that would be home building, we know that would be green energy and clean tech and that would be increased insurance coverage. for the trump administration, that would be energy, we know that would be the -- the public incarceration companies as we look to the mass deportation through the administration and probably crypto as well. we know what sectors will get of a lift from the administrations. >> pulling on that thread a bit. cnbc came out with a list of stocks that should benefit with a trump victory and then on a harris victory. trump play is cleveland-cliffs and nucor.

for harris, evgo and chargepoint. i know you gave us other plays. you agree with that play there? >> 100%. when you look at the names from the trump administration, very consistent with what i was saying with terms of more deregulated environment than the harris administration might pose. very consistent with my thinking. >> what about bonds? we had a guest earlier to say stay away from bonds. agree with that thesis? >> i think it will be dictated more in terms of whether or not we are going through reflation and what powell has to say more so than the administration itself. obviously, their outlook is important, but in terms of the bond market, perhaps whether or not we get a divided congress or whether or not we see a red or a blue wave might be more indicative of what we see with the bond outlook. >> i want to get to your

predictable theme. craig johnson says since 1900, from election day through the end of the year, the s&p is up 1.75%. the russell up 3%. if things are predictable, do you see that pattern playing out again this year? >> i do. i do. it might not play out the same over the next year. i think we have to revisit macro concerns. i hope not. we have seen core pci bump back into the 30 to 40 basis points range. you recall when i switched from bearish to neutral back in the early summer is because we saw it fall out of the range and we saw it go to zero and ten. if we see reacceleration there, then it would obviously pose a headwind to a continued rally. >> we had a mystery chart up earlier. it was your pick. what is your pick and why? >> i think you know as well as anyone although i was neutral

and bearish over the last year, there are opportunities. there are opportunities with companies growing 20%. my pick today is zim shipping. those are the companies with the consensus earnings wrong. it was projected to have negative earnings. when you look at 2025 estimates at negative $1. the street has not yet factored in the true growth trajectory. that is not only where the street has it wrong, but it will grow 20% plus where everything also is growing mid to single digits. >> i actually pulled this chart myself. since this start of the east and gulfport strikes, shares are down over 4%. explain that one to me. if there is a structural imbalance, why are the shares

declining? >> i appreciate you cherry picking, frank, but what's going to drive this is two things. >> you have to give us one thing. we're almost out of time. >> turmoil and geopolitical situation in the red sea as well as rates being five times what they were last year. >> greg branch, great to see you. one last look at futures before we let you go. nut futures in the green across the world. that will do it for "worldwide exchange." "squawk box" starts right now. happy election day. good morning. welcome to election day. it's here. whether you like it or not. candidates have made their final pitches. it's up to the voters to decide. we have the latest from the swing states of the races straight ahead and as fate would have it, it's exactly tied in dixville notch. breaking overnight. union members voted to accept the contract. we will tell you what happens

next. shares of palantir are soaring. ceo alex karp saying eviscerated the quarter. i guess that means better than expected. it's tuesday, november 5th, 2024 and "squawk box" begins right now. ♪ good morning, everybody. happy election day. welcome to "squawk box" here on cnbc. we are live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. on this election day, you are looking at higher futures right now for the equity markets. dow futures up 55 points. s&p futures up 10. the nasdaq up by 65. that comes after a down day for the major averages yesterday. the dow was down