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 257 points.

s&p 500 and nasdaq each down by .3% of 1%. treasury yields look to be -- all right. ten-year back at 4.30. the two-year at 4.17. you continue to see the yield curve building across the way. election day is here, but, guys, it is almost anti-clamatic. half of the country already elected. that was the largest turnout we have seen ever. >> we don't have to think. >> anti-climatic until we get the results. >> right. >> we don't have to think. it's going to happen. all in due time. maybe in a couple days. >> you said whether you like it or not, is there anybody who didn't want election day to get here? >> there's no stopping it. it's here. >> the good news is the campaigns over. >> the commercials? sometimes the same one was on

three times during breaks. >> right. >> i don't know who these people are, half of them. >> it's the local races. >> the local races and if it is not in your district, they're not your people. so nasty on both sides. it's like jekyll and hyde. every candidate is jekyll and hyde. their portrayal of themselves versus -- >> the commentary on us. >> it is. >> sad commentary on us. >> on society? >> yeah. >> i love society again. i love -- i love america. we're going to be fine. >> we are. there is one election we know the results on. >> which is what stwh. >> the union. we have news overnight. we get to phil lebeau to talk about it because the strike at boeing is officially over. one vote has already taken place. phil. >> andrew, this was a vote that

was taking -- it took place yesterday. results announced late last night. 59% of the machinists who voted and this strike impacts about 3 32,000. those members will get a 38% raise over four years. the machinists are locked in to a 38% raise over four years. the work will resume tomorrow. i've had a few people already say to me why isn't everybody back to work tomorrow? it doesn't happen because everybody goes back in tomorrow. it will be a gradual increase in the number of people reporting all the way through early fnext week. then they will gradually increase production. they can't flip a switch and crank out planes immediately. that is by design. kelly ortberg, the ceo of bowing said, we want to do this right. he released a statement the past

few months are difficult. for all of us, we are all part of the same team. we will only moving forward by listening and working together. there is much work ahead to return to the excellence that made boeing an iconic company. the cost of this contract, by the way, is estimated to be about $1.1 billion. that's the headwind that will come with the 38% raise and $12,000 signing bonus. everything that goes into this contract, but the important thing here, guys, as you take a look at shares of boeing, this now allows the company to move forward with certainty in terms of increasing production through the end of the year and obviously in 2025. >> phil, it's -- well, it's good that it's finally over, but the real question i have when you look at what boeing has to do now and how -- how hard it is to be to dig out of the hole and the relationship between management and employees at this

point. >> i thought kelly ortberg's question is very clear. they need to work together. when we talked with him and we talked to him after the q3 financials, he made it clear that one of his top priorities is to get them to a point where they are working together. there's -- you will really struggle to improve the quality if you cannot get on the same page. this has been a problem at boeing for decades. kelly ortberg knows it's not going to change overnight. he knows that fixing the culture is as important as being able to say to wall street, look, we're moving our production on a monthly basis up to x number of planes. you can sit there and say we're going to move up to x number of planes, but if the quality doesn't improve, you're spinning your wheels. >> i was wondering the same th thing. if you have 41% that voted against this deal, are you going have a disgruntled work force sitting there and how do you

manage that? >> well, look, with all contracts, you are going to have a percentage of workers who are not happy with the deal and they vote against the deal. we saw that with the uaw and the dock workers. you see this with all of these. that doesn't mean that the performance can't improve and that's the challenge for kelly ortberg. building the culture again so they can say, look, everything that comes out of this particular plant, the 737 max, 777, 787, regardless of the aircraft, he wants to ensure what he says to the customers, when we deliver it, it is the highest quality. you don't have to do a shakedown and say look at this. more problems with the planes that we're getting from boeing. he -- he has made it very clear. that is his top priority. >> phil, we will leave it there. thank you. i want to show you shares of

palantir because they are sharply higher. 13% higher. the company earned 11, i should say 10 cents per share in the recent quarter beating estimates by a penny. revenue at $726 million. alex karp writing, we absolutely eviscerated this quarter joined by unrelenting a.i. demand that won't slowdown. revenue guidance for the current quarter came in higher than expected and the company raised its full-year guidance. stock up now 170% year to date. joe. dollar tree's ceo stepping down after about two years in that role. he also relinquished his position as chairman of the company. in a statement, said he decided to step away because his health presented some new challenges over the past two months. the company named its coo as interim ceo.

lead independent director ned kelly was elected board chairman. the company reiterated the forecast for the third quarter and said it would complete its review of strategic options and including the sale or spinoff of the family dollar segment. before we head to break, check out shares of netflix. investors searched the offices in france and netherlands as part of the investigation into tax fraud. netflix did not respond to a reuters request for comment. cnbc reached out for a comment as well. that stock down 7%. when we come back, the judge has allowed elon musk's $1 million sweepstakes in some states to continue. the winners weren't chosen at random. we have that next. election day coverage is under way. stick with cnbc all day and all night and in torw. 'lbeig back.ro

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jen b asks, "how can i get fast download speeds while out and about?” jen, we've engineered xfinity mobile with wifi speeds up to a gig, so you can download and do much more all at once. it's an idea that's quite attractive. or... another word... fashionable? i was gonna say- “popular! you're gonna be pop-uuuu-larrr!” can you do defying gravity?! yeah, get my harness. buy one line of unlimited, get one free for a year with xfinity mobile. and see wicked, only in theaters november 22nd. all right. welcome back, everybody. a judge rejected a request by the philadelphia district attorney to block elon musk's $1 million daily give away to registered voters in

pennsylvania and other swing states. musk's pac awarded $17 million in the swing states who signed the petition supporting the constitution. they plan to give out the final award today. the winners weren't chosen randomly as musk claimed, but questioned before the prizes for announced to feel out their personality and make sure they were so someone's values aligned with the pac. the give away does not constitute an illegal lottery because there is no prize to be won. setting up contracts to set up spokes people for the pac. >> i thought that was fascinating. technically, i get the idea of it. >> it's not a lottery. >> a jobs wanted ad and saying we may give you a job to do this if we like you, but we can't -- interestingly for a job, it's unclear to me, historically, if

you can require people to sign petitions as part of your job. that's a whole -- it's very complicated. >> right. it's 6:13. i don't know if sarah knows anything. joining us with more on the market impact. sarah bianchi is joining us. looking at your notes, sarah, so many cross currents. i'm having trouble drawing any conclusions. some cross currents almost seem mutually. 3-3 in dictxville notch. >> i'll not make too many changes based on dixville notch. you are right. this election is too close to call. look, the harris campaign feels good about the week they had to close this out. they think that undecided voters are swinging their way in

disproportionate numbers. president trump's team feels good about the early vote. in my home state, georgia, we have strong with the early vote. we have not seen north carolina and nevada with same story. i think this one may be too close to call at this point. >> those were the numbers i'm talking about. you had something for both -- both campaigns there, but when you say something like it could be the demes can't make up the numbers in some states and then you put two states, one of which, seems like if you win it, someone said yesterday, who wins pennsylvania and the person said the next president is the one who will win pennsylvania. you are saying early voting appeared to be -- how do you know? it was very heavy, but how do you know it favored republicans

in pennsylvania and north carolina? >> well, in pennsylvania, it looked like the party margin was about 400,000 plus democrat. that's a lot for democrats to make up on election day. again, i haven't seen the final-final. we won't get that until this morning. some democrats would say there is a lot of independent in that vote and we got some of that, too. a lot of spinning going around. i think the challenge is, honestly, we don't have a lot of precedent for this kind of early voting. we had a lot of early voting in 2020, but it was a pandemic and we had then president trump telling his people not to do it. so, yes, republicans have looked very, very strong relatively speaking in the early vote, but i think it's anybody's guess as to whether those are high propensity voter ws who were gog to vote on election day or

grabbing new people. i honestly think the data will not tell us very much, unfortunately. i do agree that whoever wins pennsylvania will win this election and that is why you saw volunteers swarming the state doing door knocking this weekend. i heard one report that there was a point where democrats were doing 2,000 door knocks per minute. to the belief that can get you over the finish line? we'll see. >> sarah, in 2020, i think the polls had wisconsin had biden up 17 and he won by one. in 2016, the betting markets had 90% plus hillary clinton will be the winner. we know how polls and betting markets work. neither one of them work. >> they don't work. >> i know. you point out this was never a

65% race. that's where some of the betting markets were last week. it narrowed all the way to a 50/50 on friday. now it's back to 62/37 trump. what -- what's happening? is that people that really are waging large bets because they believe someone's going to win or are they trying to make it look like someone's going to win or are there signs? i know in a couple of hours, there will be exit polling numbers. we can explain moods at that point. usually that data may or may not hold up by the end of the day. by the actual end of the day. what happened this time? and dj, it is back up. what are people seeing? >> yeah, you're right. the betting market was high. we thought it was overextended. i'm not sure what is going on

yet whether there were big bets or not driving it. we did see we had a study that shows stocks that moved during the three big election events of the year. the trump assassination attempt and the biden debate and the trump-harris debate. that basket started to move up yesterday with the financial strengthening and -- and -- and excuse me financials weakening and clean energy stocks strengthening. look, you're right. the polls haven't been right. it is very, very hard to poll the trump voter. we don't know. if the trump voter shows up historically beyond what they did in their polls, he will be the next president of the united states. if women come out, the thing i'll watch in the exit polls, the most important number is what percent is women. traditionally is 52%. if it is 53, 54, 55, that is

bullish for harris. this is a huge gender gap. look, i think the messaging is all over the place. this race may not end up being close, but it certainly is too close to call. >> that's so bizarre it will either be really close or one or the other side will have a blowout. if it was -- if it was like a distribution -- like a continuum, all of the possibilities are there for a certain percentage. i saw the harris camp say we still think we can win all seven. seven states. that's still a possibility. i have seen people on the trump said say it looks like all seven. both sides are claiming they can win every swing state. >> that may be a little bit of spin. i don't know. i'm not sure about that. i think trump looks pretty strong in arizona. i think harris looks strong in michigan. i don't think it will go 7 for 7. i don't have a huge theory of

who will get to 270. >> great. out of the seven, you gave one to one candidate and one to the other. that's helpful, sarah. thank you. i'm not going to ask you to make a bet. >> that's more than i would. >> there you go. see? >> you remember -- um, john kerry was having clam chowder and all of his staff was calling him mr. president. >> mr. president, that's right. >> at 1:00 p.m. on election day. >> those were some bad exit polls. bad exit polls. just wait until the numbers come in. i'm sorry. that's all we got. >> by the way, great clam chowder. maybe the best in boston. >> i know he enjoyed it. that was -- even the bush people thought he lost. >> unbelievable. >> yeah, bush was like packing his stuff up. >> exactly.

>> get back to buy the astros or the rangers or whatever. i forget. thank you. >> happy to help. coming up on the other side of this, much more election coverage all morning long. we will talk to the former chief of staff to president obama bill daley and former house speaker kevin mccarthy will be with us. a special note. cnbc will bring you live election coverage all night long. reaction from the biggest names in business. special coverage begins at 7:00 p.m. eastern tonight and we pick up coverage early tomorrow morning starting at 5:00 a.m. tomorrow morning. we hope you will be with us. we're not going anywhere. we will be back in just 90 seconds.

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welcome back to "squawk box." fox corp completed the sales effort for ads in super bowl lix. the inventory sold out at a record higher than $7 million for just a 30-second spot. that are good economics if you can get them. >> certainly is. >> by the way -- >> that's why the sports leagues are so valuable. >> pasid a hefty price to get i and paid a lot for brady to voice it, by the way. >> he's gotten better. >> by the way, he is steadily improved. >> what was i watching the other day? you have to talk the entire time. it sounds crazy. >> you should do it, joe. >> no, you have to talk the entire time.

i saw someone. god, this guy really never -- that's what they do. that's what craig olsen does and what tony romo does. that's what all of them do. talk. they never -- >> talking to yourself. >> never an unspoken thought. it looks like his little finger was a millimeter to the left on that catch. little fingers -- whatever crosses their mind. >> it's kind of like here. >> i feel like -- >> you got a second career, my friend. >> oh, was a constipated this morning. >> never mind. >> okay. let's go. >> i'm just kidding. i feel great. coming up, a new report -- like butter. a new report says russia was behind the plot to detonate devices on planes headed for the united states. that's a little disconcerning trying to blow up planes. as we head to break, a lookat

s&p 500 winners and losers. we'll be right back.

good morning, everybody. welcome back to "squawk box." we're live from the nasdaq market site in times square. i'm becky quick along with joe kernen and andrew ross sorkin. on this election morning, you are looking at the futures in the green for the equity markets. dow up 60 points. western security officials say they believe russia is behind a covert plot to start fires on passenger aircraft flying to canada and united states. one was in germany and the other in england. the devices were electric messagerss implanted with substances. they believe it was a test run for a subject who was used by a russian spy service. the idea of russian covert

operations targeting delivery flights or passenger flights is a pretty harrowing one. >> i mean, that's not fair. >> that's terrorism. >> for a state to be involved. you know, you love the wire. there are certain things in the game, which all these guys are involved. there are things you don't do. you don't put a hit out on someone on a sunday morning when he is going to church with his mother. >> you follow the rules. >> this is not what you are supposed to do. this is not part of the game. cargo or passenger airliners. >> this is the reflection of putin. he's backed into the corner at this case. >> i guess we shouldn't be surprised with the civilians and hospitals and apartment buildings were not part of it either. >> it's you. >> sorry. >> you are the only one --

we have corporate news to bring you. openai advancing the plan to transform the non-profit to the for-profit structure. the company is in talks with the regulators to change to a public benefit corporation to maintain the mission for social good and operating as a for-profit business. we would see, therefore, what a charter would look like, but, of course, that would raise questions how equity would be redistributed and raises questions of startups start as a non-profit and this would turn into some kind of model. uber proposing a cut to the new york city drivers base pay rate as it seeks to lower prices in the large eist market. they are asking the taxi to account for falling gasoline prices. the commission is preparing changes to the rules to have an

impact old cost of rides. the tlc says it protecting loopholes as they were locked out of the apps. prices have gone up. part of that was built in because of the price of gas. we'll see whether they come down. i think it's going to be hard in this city to get that approved. when we come back, we will talk to pollster frank luntz as voters prepare to lock in their decisions at the polls today. we're coming right back.

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welcome back to "squawk box." today is, of course, election day. joining us with his final view and state of play is frank luntz, political strategist.

we will save the tape, frank. it is now 6:37 here on the east coast. what is the latest state of play in the mind of frank luntz. >> it was four years ago we talked about on the show the results would be delayed. not hours, but days and it should go until saturday. we should have that tape to go. i'm watching for 7:00 p.m. the polls close in georgia and north carolina. if trump loses oeither of those states, it say harris victory. i think harris wins wisconsin and the last two states point to a voter block shifting. nevada and arizona. i'm watching keenly whether or not the latino vote punishes the trump campaign for what happened at madison square begarden.

there are two points i want to raise. we see older women who vote similarly to their husbands and republican more than any other group. women appeared to vote for more who harris than they normally vote tore a democratic candidate. that's a big deal. second second, there is a difference with the persuadables and the decided that trump has gone after. if this is a record setting turn out, it may be good news for trump because he was able to mobilize very intense voters to get to the polls and not speak to pollsters like me. the last group i'm following are younger women 18 to 34. more pr more pro-harris than any other group. i would have told the harris

campaign get your stars out to do concerts and do motivation and i'm not sure they've done enough. that's my summary for right now. >> so, frank, you think saturday, why saturday is the bell rings? >> because there are too many states that leave their counting open. as long as your ballot is postmarked on election day, they will allow it to be counted if you go up to 24 hours, 48 and some states 72 hours. i think pennsylvania will be too close to call tomorrow morning. i think nevada will be too close to call tomorrow morning. if the vote's not arrived on election day, it will still be counted. those states will be close and we will not know until late friday or early saturday. >> when you say too close to call, what is the -- what is the margin have to be before it gets

called? >> it depends on the state and also depends on the networks and associated press. different networks have different rules. in most cases, if you have 95% of the vote in and the candidate is winning, that's enough to make the call. they have done projections based on previous elections which is very dangerous in 2024. we have seen trends we have never seen before in mod than p modern politics. donald trump will get a higher percentage of paycheck to paycheck voters than any republican in a longer time. harris will get the percentage of upper middle class men and women than democrats have gotten. these are shifts that don't usually happen, but happening right now. >> frank, let's me ask you a different question. you have spoken to a lot of voters across the onecountry an

there are corporations are concerned between this period and today and saturday if saturday is the day and after that depending on what you think the outcome is. there are questions about unrest. some companies have plans in place in advance trying to deal with or think through the permutations of what that means. what do you think the chances are that there is unrest in this country? >> unfortunately, higher than in any time that i can remember and it's a tragedy because we're a democracy. our election system is supposed to work and i believe that it does and i believe there's so much and i have been tracking it on social media the last 72 hours. accusations . people claiming ballots are being dumped. it isn't happening.

i know the states and many of them are republicans secretaries of state say hold it. stop the misinformation or disinformation. andrew, we know the russians are involved in some of this and the iranians are involved in some of this and it's a genuine problem. it's a threat to the credibility of our system. i'm a believer of it. i have seen tit. i have traveled to every one of the states. the problem is social media is putting out to various people and nefarious individuals are putting out that it isn't misleading memes. it is going to be a problem. i understand why the businesses have decided to close or created the warning systems. it is my hope that both presidential candidates will speak up and accept the rumts for what they are. >> my other question, frank, if that does not happen, what do

you believe the role of business leaders should on be or not be. we had barry diller on yesterday. he spoke to it. if you are a fortune 500, you don't want to speak out how tribal and contentious. >> to support america, to support the election system, to speak out and be heard about election integrity? that's absolutely the responsibility of the ceo. we looked at this over the last 15 years in business polling that i've done. the public in general and employees in particular, expect the ceo to support democracy. if they are silent, they will be punished by their people by having the cowardice of them not speaking up. one of the most today is mark

cuban. he has been speaking up and he has been talking about how our democracy does work. he has a candidate he supports. i expect jamie dimon and steve schwartzman and ken griffin and all these awesome financial leaders in this country to endorse whatever the result is and every expectation not only they will do so, but they will speak up for how great it is that we get to have this opportunity every four years to decide who runs this country. andrew, you and i are here today because of that democracy and we're here today because of those type of ceos to have the courage to speak up. >> frank, let me ask you a different question before you go. arguably the most powerful and influential ceo in america today is elon musk. what do youexpect him to do and what do you believe his responsibility is? >> my hope, because i don't know what to expect from him.

he has proven to be unpredictable. my hope is he will acknowledge the results. i think you should have him on your show thursday or friday morning. maybe we have to wait until monday. it's important because people listen to him and they follow him and to have elon musk and mark cuban, because supporting other candidates, put them together to do a press conference together saying we accept these results. america move forward regardless of what happens. andrew, let me give you one other projection because we haven't talked about congress. the republicans are going to take the senate. regardless of the presidential and the house, that institution will go republican by the time all the votes are counted. >> where do you land on the house? 12k >> house is within five votes. if the house ends up democrat, which it could, we would have divided government which seems the american people are asking for and what they hope will happen. >> frank luntz, thank you for

joining us this morning on election day. i'm sure we will talk more to you throughout the day. >> it's a privilege. >> i appreciate it. thank you. coming up, much more election coverage. we will talk to former chief of staff to president obama bill daley and we will have former house speaker kevin mccarthy. as we head to break, we have the coverage of columbus, ohio as election get gets under way. we'll be right back. and event staff. t-mobile powers tractor supply's stores nationwide with 5g business internet. and t-mobile's network helps aaa get their members back on the road. this is how business goes further with t-mobile for business. this is our future, ma. godaddy airo. creates a logo, website, even social posts... in minutes! -how? -a.i. (impressed) ay i like it! who wants to come see the future?!

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voters are out at the polls this morning as the presidential election is down to its final hour. joining us now, bill daily, and he was former president obama's chief of staff. thank you for being with us this morning. good to see you. >> nice to see you. thanks. >> let's talk a little bit about what you think is happening. just about three weeks ago you had commentary and i think it was politico where you said you thought kamala harris was the underdog, that this was former president trump's to lose in this situation unless things changed in the last three weeks of the campaign. what do you think now? >> i think i did believe it was president trump's to lose and i think he's done a good job of attempting to accomplish that. the last three weeks have not been good for him in my opinion. i think you have seen the momentum which is much stronger and i listened to frank earlier,

and whether it's the senior women that generally vote republican going the other way, and the election will be close. frankly, there's different scenarios. i would differenter with frank in that i believe we will know, not that the votes will all be counted but we will have a pretty good sense of where it's going much earlier than by saturday. i think by late tomorrow or midday tomorrow there will be a sense of where it's going either way for president trump or for vice president harris. i think she's got momentum which is quite important. >> you would agree that we may not know this just not tonight but not tomorrow morning at this time? >> i think we won't know for certainty. i chaired al gore's campaign in 2000 and we went five weeks not going who was going to be

president in the united states, and it was crazy with the court system in florida and the federal courts. america was resolved in having it completed and it was completed and we moved on. all of this talk about violence and all this stuff, we need to just calm down. the system does work. >> part of the reason the system worked in 2000 was al gore conceded and he wishes he would have not done that, and do you think either candidate will concede if it's close if it looks where we are down to -- i don't know if you count hanging kh chads at this point, but do you think it will be a gracious concession by either of the candidates? >> i hope so. if there's a recount in a certain state like there was last time, the process will work. we went, as i said, five weeks

with the chad craziness in florida, and in the end president bush won when the count was stopped. just because it's very close by saturday, let's say, where most of the votes are counted and there's a recount, that doesn't mean there's nefarious action going on, and i listened to frank, and i know my friend, speaker mccarthy, will be on next, and there's only reason there's a doubt of these things and that's because trump four years ago put the doubt in the american people that it was not a fair and free election, but it was, as frank said. and there are still people that will not admit trump lost. >> well, there's still a narrative that al gore won because if you were running things down there, you had two very democratic counties, and

you had miami-dade and broward, and you were harvesting votes and you were going to count them until you won, and thank god the supreme court and courts finally stepped in for that. >> wait, joe. i remember the -- i was there. i remember the people looking like this, hrbging up at the chads. and here's another democratic vote. that didn't -- the country didn't need to go through that and maybe trump put us through something four years ago, but you and everybody else put us through something back in 2000, too. >> that's the process, and if the -- >> that was the process in 2020, too. they were harvesting votes. they were harvesting votes in two democratic counties. >> joe, every process last time that moved forward with the recount whether it was in arizona or pennsylvania or wherever all ended up where they started, and that was joe biden

won by whatever number it was. may not have been the exact number when they started the recount, and the process in florida, in those five counties, and there were five where they were challenged, and george bush won by 500 votes. there were few votes left to be counted, and the odds are george bush still would have won by a few more than 500. it was a process. >> the courts weighed in and al gore conceded based on what the courts done. >> yeah, the courts said stop counting and stop harvesting. >> joe, joe, joe! >> if you would have kept going you would have won. >> that's a lie. absolutely untrue. absolutely untrue. that's not true. nobody was harvesting votes.

that word implies people were finding votes -- >> if you decide -- if you decide a hanging chad is a vote for gore instead of bush, you can do that until you find enough. >> there were people doing that -- >> five weeks. >> in public, joe. in public. >> how old were you not you. >> i think the public needs to just genuinely know about this particular election and there's a major distinction, and there's a person that completely told the public continually and wrongly even up until this weekend that he should have been in office and this past election was not real and that's a completely different situation. >> challenging elections are as

old as time, and it's -- we heard from joe biden that the 2016 election was -- >> i don't -- >> you are conflating this with that and it's not the same thing. >> bill, go ahead. >> if this were an election, you would win three to one, so congratulations. >> this is not about who you are voting for but about the santa t -- sanctity of the election process. >> certification challenged by democrats, i'm not going to do that, and democrats invented it. >> there are processes in every state determined by the legislature, and as an outsider, it sounds like, what?

there's a bizarre way some do it. >> yeah, each state, when we dealt in florida, not to go back to that 24 years ago, each county had it's own election board and own rules of the election board and -- >> some arcade stuff. >> yeah, these are not run by the federal government but they are run by our neighbors and friends at the local level. >> do you think this will be something that a week from now we will be able to say whoever wins, okay we are moving forward as a country and this is how it works? >> people will -- there are many people who will not accept the results period no matter what side, and they will say whatever they want to say. the government will move on, and whoever wins will be inaugurated in january and they will put their government together and policies and whatever happens with congress, the division of

congress who controls will have an enormous impact. yes, the country will move whether people want to accept the results or want to join in in making america move forward. >> do you think if trump wins there will be a nice and orderly transition with no squawking -- >> well, there will be squawking. "squawk box," come on. but will there be violence? no. >> you think peaceful like that summer, okay. >> what summer? >> the summer where -- >> that has nothing to do with the election -- what does that have to do with an election? >> the other side is perfectly capable -- every time we ask the question will the results be accepted this time it's about whether trump accepts the results, but if it goes the other way, we will see. >> if harris is the one that

stands up and said i don't accept this, it's terrible -- >> if a nazi fascist guy that resembles hitler which he has been pigeon holed as by the left, there are people that will not be able to accept that. >> which i don't understand, and i want to pause it to you -- >> can we get mccarthy here? keep going. >> you are suggesting the protests -- >> you are going to say it was on both sides. >> after the murder of george floyd somehow is similar to the insurrection that happened -- >> the violence was much worse. >> i am not disagreeing that the violence was worse. >> almost 30 people died versus no policemen were killed that day. >> i am not suggesting it happened for the right reasons at all, at all.

let's just put -- i think the viewers, who may not know all the facts, when you say -- >> they will get them from you, andrew. >> i don't think these are all opinions and that's the problem. i worry there's misinformation that gets deposited. >> bill, i want to thank you for being with us -- >> we will see what happens. >> thanks, becky. appreciate it. >> have a nice day. >> you, too. it's 7:06 on the east coast. you are watching "squawk box." it's election day. go out and vote if you have not already. i am andrew ross sorkin along with joe kernen and becky quick. the dow up about 53 points. the nasdaq about 72 points higher, and the s&p 500 looking 12 points higher. we will show you treasure right now. the 10-year at 4.311, and the

two-year at 4.111. we have breaking news. we got the results late last night and here's how it came down. 59% of the machinists that voted on the contract yesterday approved the deal. what does that mean? they locked in a 38% raise over the next four years and a signing bonus, and more importantly what you might expect for a number of machinists they wanted a reinstatement of the pension, guess what? that's not happening. here's the president of the machinists talking about that. >> many of the members were fighting to get their pensions back and it's a righteous fight and our member deserves pensions like every worker, and they were not wrong in feeling the way they did. i feel strongly and i agree with them, we just couldn't get the pension out of this company.

>> by the way, very few people outside of the machinists thought the pension would be reinstated. again, that's not part of the contract. boeing ceo released a statement saying there's much work to do. that work begins tomorrow. that's when some of the workers will start going back into the plants. all of the workers will be back by early next week. it's going to be a gradual resumption of reduction. not like you flip a switch. you got to get the suppliers and the supply chain, which in some cases there have been layoffs or furloughs for suppliers. the production cap on the 737 max, this is what many will be focussed on now. it's 38 per month. it will take time well into 2025 before they get to 38 per month. the cost of this, the headwind if you will, for bow something $1.1 billion. most importantly for this company, it's settled.

that allows them to move forward with certainty. free cash flow is going to be negative for some time but at least they can now say it's over, let's focus on-ramping up production. >> that's some good news on election day, i think, for what is still one of the great manufacturing companies in the united states. thanks, phil. coming up, former house speaker, kevin mccarthy will join us to discuss the election, and later, anthony scaramucci and vivek ramaswamy will join us in a debate you do not want to miss, folks. "squawk box" coming right back.

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our next guest says if you want a lower inflation, stand up to china and secure the borders. donald trump should be the next president choice. now former house speaker -- we have a republican and we are going to talk about inflation and none of the other stuff. >> we should be celebrating today. everybody has a right to go and vote and people died for this right and we have a close election and your voice matters, so no matter what side you are

on, you should be excited today. >> we had a guest on and she said there was so much early voting that it might be hard in pennsylvania and north carolina for democrats to make up the difference, but then said that the independents were breaking towards kamala harris and that women, the margin was -- i couldn't figure out which -- what really has gone on. >> you can think of data any way you want, but if you compare four years ago, the democrats were up in pennsylvania by over a million votes right now. today only 400,000. on election day, republicans beat democrats on turnout, so when you look there in pennsylvania, it's an advantage for republicans. there's a gender gap. if you go and look at the specific numbers of today and where biden was, she's actually 1.2% lower in the gender gap than joe biden was. >> that's the first person i have heard say that.

is that just in pennsylvania? >> no, i do overall and you go state by state. then if you look at intensity, okay, every election the pollsters got it wrong and you figured that out later. if you look at the environment, and timing matters on everything. the generic ballot was plus 6 for democrats and .4 for republicans. what it tells you, you have a senate that doesn't matter about the environment because it's pure math and no one person put the race away but i would give the advantage to president trump because even kamala's team would tell you early on she had to be winning by 3% to win the electoral college, and now when it's tied or she's behind, they say that doesn't matter. >> can i ask you a game theory question? >> sure. >> because both sides say certain things, and both sides like to say -- you are saying

right now and i am not contesting it that it looks like trump is going to win. >> i said he has the advantage to win. >> and harris may say that or may not, and sometimes people say there's an advantage to saying you are the winner because that gets people to the polls and other people say if it looks like your candidate is losing or that it's on a nice edge, that encourages people to go out and vote for them. then there's a third piece which is new to the whole situation which there's a theory that you may think is not right, but i will suggest it, that there are democrats that fear that republicans are trying to tell the public that trump is winning so if he is not winning for whatever reason they can say he can win even if he didn't. >> a, b, c -- >> well, if one side says they are winning it motivates the

other side, you got to get out. the part i hate coming from california, people declaring it while the polls are still open and that determines congress and others. >> you don't have any skin in the game this time around and you don't want to win the house -- >> i want to keep the house and i care about my country. >> but you are not in. >> no, we would be winning pw bigger if i was. there are 15 races that could go either way and the presidential election will probably tilt those. it usually happens and even though the race is close somebody can win by a bigger margin. all sides will tell you it's pennsylvania. if kamala harris wins pennsylvania, wisconsin and michigan, you can't win. if you are in the house and you want to know how the house is going to go because you are looking at the east coast, look at the race in maine on golden,

and watch pennsylvania seven and eight, the wild and cartright seat. you can look at two races in virginia. if republicans sweep those, it will be a big night. >> in virginia? >> you have spanberger's old race, and there's tiggins up for re-election in virginia beach. because you have so much early vote, before you would find some states count the absentee votes first and that's why you see things shift, and the numbers should stay consistent this time instead of flipping in the middle of the night. >> things we are not considering in terms of absolute surprises. could georgia go blue again? >> georgia could.

there's two suburbs outside of atlanta that i like to watch. look, atlanta and the metropolitan makes up 60% of the vote. the suburban areas when they lost stayed home and it was after the presidential race. what we found is they are turning out larger and the republicans came in bigger. there's a large black vote inside there that has been motivated in, too. you have a gender gap in there. >> right. >> the thing i would say to kamala's team, tell me how you win if trump gets 41% of the hispanic vote and over 16% of the black vote, then the gender gap is not -- >> i have read and i don't know if it's true but some urban areas, voting has not been as strong. could virginia go red? >> could it?

yes. the probability probably not. >> wisconsin is going down in the harris side of things -- >> no, i would not write off wisconsin. >> biden was leading by 6.3 and only won it by 20,000, and they underestimated trump by 4.2%. >> we are going to get ahead of ourselves with the question because it's like a day two-story. one of the things that was interesting about barry diller yesterday is he said i am excited about the 2028 election. if kamala harris wins today does it fundamentally change the thought process around what happens in the republican party, and do you believe if trump wins today it fundamentally reshapes the way the democratic party thinks about itself? >> whoever loses will correct

whatever problem they had for losing and they will be stronger. >> you will argue that the republicans didn't do that in the past four years, right? because trump is back. >> well, the argument is trump is back, why? because his policies are back. it's a great comparison to the border. which style do you want? it's a great comparison to the economy. trump was right in that sense and that's why he's leading. what you will have a generational change. the biden and trump is gone, so who is the new leader of both parties? whoever wins the white house two years from now will probably lose if that party wins the house, and you have a much different place historically if you lose. what i would do is rebuild and come in stronger and four years from now you could have the majority in congress and winning the white house. >> do you think this country can be -- can live with each other after this? >> yes.

>> have you seen the articles written. if you have one person characterized as a threat to democracy and a fascist and hitler, and there are really a lot of people that believe that fully and think this person not be near the oval office, and on the other hand, not a single primary vote has no business being commander-in-chief, and you have two sides that will never come together. it's going to be very, very ugly. >> i believe something fundamentally different. i believe the country is so hungry for a strong leader that unites -- >> you think that could be donald trump? >> i do. but he -- he's defined so much already. democrats won't work with him. this is something i learned and watched with donald trump. donald trump is not so rigid that he is so fphilosophically

bent -- there's a lot of positions that i was afraid in a leader position that he would do a deal with them but they wouldn't do the deal. >> his first two years were spent as a russian agent for vladimir putin. >> my hope tonight, the person that wins the electoral college wins the popular vote and we move on. >> that would be great. >> but i do believe the country is hungry for somebody that would take the extremes on both sides and say you are too extreme and i am going to govern. >> i would agree. >> that will unite the country. you need an election about ideas. this is a point i made last time i was here, and this is the most money ever spent. kamala spent more than a billion but i can't tell you the three things she would do. that's a blame on the campaign

team. >> that's their game plan to say i am not joe biden and i am not donald trump. >> but she doesn't answer that way. she says she will do nothing different. that's a hard way to govern. when you have an election and enticing people to vote against somebody instead of for something -- >> if the supreme court would not have stepped in, would al gore have won? >> no. it would have gone on longer. >> it was getting narrower and narrower. >> i listened to the debate earlier, and what happens one year extracts to the next year and gets larger and larger and you say democrats didn't do the things republicans did. what i will tell you, when they started to challenge for january 6th but didn't turn out the same way, the next party that got mad they went a step further than the party before and it got

escalated. >> i think there's a distinction and for the audience that doesn't know, what your position was in the aftermath of january 6th -- >> i don't support anything that happened. >> you were appalled at former president trump at that time. >> there's also a point here, too, where i was sitting as a republican leader in the house. at no time did the sergeant of arms ever talk to me, not on january 6th, not before or after. when i became speaker, the first thing i did is i said i will treat jeffries the way i wish i was treated, and i called hakeem and i said brief us both. why would you make the security of the capitol political. this is where we extrapolated too far. you need to take that part down. you need to show respect on both

sides. there's a large number of members on the other side and they have a right to know if there's a security problem. they have a right to know if somebody was offered the national guard to be there, that decision should not be political. everything was political and that was wrong. >> very good. >> thank you former speaker kevin mccarthy. >> you should be excited. it's election day. go vote. >> okay. we will. >> thanks, kevin. > early and often. >>up next we got stocks to watch. plus, finance professor jeremy siegel on the election and markets. "squawk box" will be right back.

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welcome back to "squawk box." i am dominic chu with your election day movers. this is pallantir. the firm is betting on strong spending from government customers and rising demand for its services for companies looking to adopt generative ai technology. shows shares tripled nearly so far this year.

dollar tree, the discount retailer announced the ceo is stepping down and will vacate his role as chairman of the board. that stock is down roughly 40% over the last year or so. shares of restaurant brands international falling 2% or so right now after the burger king parent company missed the expectations. we will end on cleveland cliffs, and the iron and steel producer have tighter margins, and they are down about 6%. keep it here, we have election news and segments. "squawk box" returns after this commercial break.

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welcome back, everybody. let's talk markets. the dow futures are up by about 25 points this morning, and the nasdaq up by about 55 and the s&p by eight.

jeremy je jeremy siegel is here. what do you think about the election's potential impact on the stock and bond markets? >> well, first, becky, i think if it's, you know, if it's a clean one, one way or the other, and we don't have something like you were talking about, the bush/gore hanging chad, and i think if it's not close i think there will be a relief that there's less likely to be huge challenges and uncertainty, and just getting that uncertainty behind us is, i think, positive. if there's a republican sweep of house, senate and the presidency, i expect the bond market to be wobbly, and i expect them to be worried trump would enact all the tax cuts and

i think bond yields would rise. i think a split congress, whoever wins the presidency, is probably the favorite for the markets so that neither candidate can get his or her full plan pushed through, so i think that a lot of it does depend on the house or the senate. i think the senate would be pretty clear. the betting markets are over 80% for a republican takeover of the senate, but the house looks very close and that might take days to be decided, but that could be very, very important in terms of how the market will react. >> jeremy, no matter what happens in the house, it's not going to be a big majority one direction or the other. maybe that in itself is a hung jury situation no matter what happens, because we have seen how difficult it is to control the house when you have on many

a few votes, five or fewer. >> that's true if it's that close. as we all know, the trump tax cuts enacted in his first term are going to expire on december 31st of next year and the house, i would say, i mean, you know, if they want to push through his tax cuts and extent it for another seven years, i even think those radical members of the republican party would be voting for that, so a close one even in the house, i think, would still give the republicans an edge on getting their tax through, so i think that, you know, that that is still going to be important in terms of whether all three are controlled by one or the other. >> you mentioned the betting markets for the senate, 80%, and

80 sounds like something that gives you confidence. beyond that how effective do you view betting markets versus polls? some -- there are strengths in both and weaknesses in both, and do you need to use both? is one better than the other? betting markets can totally flip, and i mentioned earlier wisconsin was up 17 for biden and when it was all said and done he won by one. >> listen, neither, of course, are perfect. there is -- could be big errors, and the betting markets to me are the most accurate. the war that the government had against those betting markets, you know, trying to close them down for the presidential was a

big disservice to americans and academics were opposed because we use the betting markets with understanding how markets react to different predictions. yeah, i think in the very recent days we have seen that turn back to trump. i would honestly say i think poly market is a little trump biassed, but the others moved together. they are a little less trump than the poly market and you can understand why. they are basically moving together. they have given a turn to trump in the last 24 hours. i think some of the very recent polls, the atlas and emerson have not been quite as good as the trend maybe hoped by the harris administration. again, they are betting the

house to be nearly 50/50 even if they are giving trump 60/40 on that, so that -- that is going to be very, very close. i don't know if we will know the house by the end of the day. >> jeremy, i don't know what 60/40 means. i always say you are on a plane and you have a 60% chance of a safe landing, i am off that plane fast. you are getting on a plane with yokn y a%? u owoure not. >> you would never do that. >> i need 100%. >> professor siegel, thank you. >> thank you, becky. >> "squawk box" will be right back.

meta platforms is extending its ban on new election ads until several days after the polls close. it was initially set to expire around midnight on election day but they are extending the band to try and stop confusion while votes are being counted. google is also blocking election ads after the last polls close to keep candidates from

prematurely claiming victory before a race is called. coming up, we have a lot more on "squawk" including this, vivek ramaswamy and skybridge capital's anthony scaramucci, grhaps the final debate before weet results hopefully tonight or tomorrow or sometime soon. "squawk box" coming back right after this. ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life

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of the country. i am hoping we can have a conversation and maybe a debate from an economic and business perspective, and you can take it however you want. anthony, i will start with you to make your final case for your candidate, and ramaswamy, we will come back to you. >> i will make a simple case for the vice president. it's about deficit reduction and expanding the opportunities for the middle class, and it's about expanding the opportunities for smaller businesses and it's about getting the immigration story for the united states correct among many other things. one thing that perhaps vivik and i will disagree on, is i happen to think we are better together. i know the former president doesn't love the multi-lateral deals. if you look over the last 80 years, andrew, those types of

deals have led to great peace and global prosperity. those are things i would like to keep intact and those are things we will work hard for come january of 2025. >> vivek? >> you get to compare two administrations side by side. the last time the united states had that chance was over a century ago so it makes it a unique election. let's compare. under biden/harris, inflation was up, and the home ownership was down by a lot, and illegal immigration was up and our national spirit was down, and foreign conflicts were up, wars in the middle east and ukraine while military recruitment was down. i judge based not on words but actions. if you look at donald trump's vision for this country, he will

unite the country not threw fake verbiage, but success is unifying, and for a financially-minded audience, and we share that and if you are a single issue voter on the following alone, this would be a case for donald trump. the tax on unrealized capital gains. that would require potentially millions of americans to be able to write a check for cash they don't have to pay taxes on assets the government says is a certain amount. that's a formula for a stock market crash. the case for donald trump is the record i laid out. the beautiful part of this is people get to vote for the candidate they want. that's american democracy at its best and today is a special day in that regard. >> before we go back to anthony, to clarify one piece, my

unde understanding and maybe it's wrong, on the unrealized gains we are talking about folks that are more than $100 million, is that accurate? >> two parts of that, there has never been a start that started with the 100 plus million impli down effect down below. andrew, and you understand this well, the trickle down effect even from the stock market losses, from somebody who has over $100 million selling and creating a cycle of selling, silicon valley entrepreneurs who have paper gains for a private company but they have to then sell those stakes, creates a cycle of forced selling that, in the end, hurts the people on the bottom the most as well. yes, harris has been careful to cabin the scope of this, but i think the effect of it, nonetheless, even implemented at that level, will hurt everybody all the way down, and i do think if you're a single issue voter on the stock market and the economy, that alone should be a basis for voting for donald trump. >> i want to ask you one other

question, andrew, do you think you are affirmatively voting for the vice president or do you think you are voting against former president trump who was your former employer? >> i think the former president is a disaster and i disagree with vivek respectfully. he's not a uniter. he's an incredible divider. the way he talks about non-white immigrants in the united states, with the language people used in the 1930s in germany is an example of the division. i certainly wouldn't vote for him but i am voting for her because what vivek is leaving out is the stock market is at an all-time high, we have great economic growth. the unemployment numbers are around 4%, and the economy is doing quite well after covid. vivek is mentioning the inflation. we probably don't have enough time on television, but i'm not a political candidate. i actually understand that the inflation was secular and that you can't personalize it.

you can't personalize it on donald trump when he sent millions to try to protect people under covid and can't onto the vice president orthopedic or the president. we did better than the rest of the world, and our economy recovered faster than the rest of the world. when vivek is talking about the unrealized capital gains, he's trying to drop a bomb on your viewers,age i understand why he's doing that, but then i could drop another bomb where president trump is talking about eliminating the independence of the federal reserve and then i could spend five minutes on the catastrophic consequences of that. we have the most liquid, deemest capital markets in the world, and if trump wants to make this like turkey, that would be an unmitigated disaster. we both know that's not going to happen and we know the unrealized capital gains talk is also not going to happen. but what could happen under donald trump is that he deports people. he's talking about deporting 15

million people. it's probably not possible, but a 1.8 million deportation would cost taxpayers $88 billion, crush our gdp and would crush our tax revenue. let's talk about the realistic things that will happen. that's something very realistic the president talks about all the time and so does his people. >> vivek, respond to that, but let me ask you one other question, which is we have talked a lot about tariffs over the past couple of months, talked about oil maybe being an offset to whatever inflation could come from the tariffs, but we also saw elon musk over the past week say there would be a temporary hardship in a trump administration because of the transition cost. he says it would be better on the other side but for some period of time, i don't know if we're talking a year, two, three or more, that it would be hard. and i'm curious if you would comment on that because i do think economists, at least the majority of them -- you may disagree with the majority of

them -- but suggest that would be the case. >> a couple things i want to say briefly to address that and go back to a couple of anthony's comments. biden preserved all of the trump tariffs, so in that sense, that's a wash. elon musk's comments were honest with respect to regulatory reform and thinning out the federal bureaucracy. if you're talking about thinning out that bureaucracy, are there going to be short-term bumps in the road, of course. will that be good for the economy even in the short, medium and long run? absolutely it is. i think we have a regulatory state that has overgrown like a cancer. the supreme court has actually shot down a lot of those regulations. that's the single greatest economic stimulus that's last something rolling back unconstitutional regulations which donald trump favors and kamala harris does not. i want to go back to an interesting point about this debate on the tax on unrealized capital gains embodies the harris policy vision, which is her signature economic proposal, some of the smartest minds -- and i respect anthony and his

proximity to capital markets and others like mark cuban have made similar arguments. the strongest defense they can argue is it's not going to happen. that should tell you about the seriousness of her plans if the whole point is to say we're going to put this idea out there but the public shouldn't believe it. either it's a bad policy and you shouldn't vote for it because it's a bad policy, or she doesn't mean the policy and you shouldn't vote for her because she's not a serious candidate. >> one point i'm just curious about, looking at a bloomberg -- >> go to the fed, andrew. trump is talking about -- >> biden's push to tax unrealized gains. i have not heard her actively suggest and i don't know if you've heard her talk specifically about this unrealized gains plan. >> absolutely. her economic advisers have been talking about it regularly. you don't have to look at her campaign. look at her as vice president. she and dbiden proposed budgets -- >> in the past, yes. >> while she's literally the sitting vice president of the

united states running for u.s. president, that's accurate, andrew. >> no, that's accurate. the question is whether that's her position today, and clearly, by the way, she has changed her positions on lots of things which i know is a mark against her by some. >> she's changing on fracking and offshore drilling and single payer health care systems. even on your own program, you've had her own economic advisers saying she stands by this and this remains her own position. other senators, like elizabeth warren, bernie sanders, have favored this as well. the idea this isn't going to happen is not only not a strong argument, i don't think it's true. kamala harris has called for overturning the filibuster, getting rid of it to ram through the green new deal. the same thing could make this a realistic possibility -- i think the reality is i would like to hear, anthony, a policy issue she's stood for the last couple of years.

>> we should have a serious debate about what is it going to happen and what is not going to happen. president trump has called for a dependence of the fed on him, and i'm ceding to you i don't believe that's going to happen any more than i believe the taxes on unrealized capital gains -- it gudied in committee many years ago. it is a progressive left totem? yes, it is. do i like it? i do not any more than i don't think you would like the fed ending its independence. there are people listening to the show that know if we end the independence of the fed, it would be an absolute nightmare for america and for the rest of the world. so why don't we debate about what is going to happen. we've got economic growth in this country. we have rising wages. mr. trump and speaker johnson are talking about eliminating the chips act. you and i know, because you're a techn technologist, how important that act is to the united states, not just to jobs in the united states, but also our national

security. we've reformed and done a great job on infrastructure as it relates to bridges, roads and tunnels, which is lowering the cost of goods and services around the united states and the inflation is coming down. we had a 50% -- i'm sorry, 50-basis point cud t in the federal reserve and another likely coming next week. things are good. i'll tell you something, and i know professor siegel knows this, our last guest, when we have an all-time high in the stock market, the incumbent party usually keeps the presidency. i believe that will happen today. vivek, you're a great guy and a very smart guy, let's talk about what is going to happen. you want to deport millions and millions of people. that's going to destroy the comity in the united states. i love people. i do not want to divide the country between the pipe of people mr. trump likes and the

type of people he doesn't like and the piles of garbage that his people talk about at an event that you were at. to me, we're doing great. let's stay the course and let's grow middle class wages the way the biden/harris team has done over the last four years. >> let me respond to that. i'll say a couple of things. i have no doubt the sincerity of your intentions and our shared intentions, for one, to see this country prosper and be more united. donald trump is married to an immigrant. his vice presidential candidate is married to the kid of immigrants. i'm the kid of legal immigrants to this country. and donald trump has been clear about the fact that legal immigration of immigrants who benefit the united states of america is an important part of this country's fabric and an impo important part of our future. we cannot conflate that with mass illegal immigration in this country. for a system that now rewards people who are willing to lie to the u.s. government seeking asylum as their first act of entering the country.

if your first act of enter being the country breaks the law, it's a violation of the rule of law for you to remain here. i think this effort to sort of obfuscate the republican position on legal, valid, helpful immigration to the united states is different from the hard line position that is totally acceptable for donald trump to adopt with respect to mass illegal migration. and, in fact, there have been three times as many more illegal border crossing encounters at the southern border under biden/harris than under donald trump. let me just finish. the illegal entry in 2019 was under donald trump, and i think most americans, on the left or the right -- and i can tell you firsthand, especially first generation americans and legal immigrants -- are the biggest -- and i don't think it's a defensible position to say we shouldn't allow -- we should allow illegal immigrants into this country. you want to talk about legal immigration, great. donald trump and i and others are ready to have that

conversation. i think that's a betrayal of what this country was founded on. >> may i respond to that, andrew? >> 30 seconds. we're coming up on a break soon. >> the biden team tried to get a deal done. trump told his minions in the congress, don't do the deal. i need to run on this problem. not have a solution. it's a self-service. it's not a public service. the last point is we need a leader that's going to unify us, all of us, and talk to all of us no matter what our shape, sizes or colors are in the same way we have a beautiful mosaic in this country, vivek, and it would be very smart for you, because you're a future leader in that party, to start reflecting that beautiful, colorful mosaic and the ideas and policies of that party. and you're not doing that right now. i do think that's the reason he's going to lose today. >> if i may finish, andrew, on a positive note. we agree with the multiethnic working class coalition that comprises this new republican

party. either way on a positive note, we're both voting for national unity but i hope growing our economy and raising wages, bringing down prices is the better way to do that in substance not just through verbiage. >> we're already doing that. >> thank you for joining us. we will see where this election takes us, and i'm sure we'll be talking to both of you again about all of this very, very soon. thanks. >> thank you. it is 8:00 a.m. on the east coast and you're watching "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross. 59% of workers voted in favor of that deal which includes 38% wage hikes over four years. president biden congratulating the union and the company on a deal. boeing said julie sue helped resolve this strike. we have some earnings from burger king parent company

restaurant brands international. the company slightly missing analyst revenue expectations. domestic same store sales growth fell short at all four of the company's chains, and that stock down by 3% this morning. more earnings coming from dupont. the company reporting profit above expectations on revenue that was roughly in line. dupont is raising its full-year profit forecast above estimates citing strong a.i. tech demand and that stock up 2.3%. housing affordability is another key issue for voters in battleground states. diana olick ran the numbers and joins us right now with more. hi, diana. >> hey, becky. just under 40% of early voters said housing affordability influenced their choice, that according to a new report from red fin, with a larger share of harris than trump voters saying it was a factor. let's look at how affordability has changed in the last four years. first the own versus rent equation. in november 2020 it was cheaper to own a home than to rent in

the vast majority of the country. that flips on its head today. home ownership is much more expensive due to the sharp increase in home prices fueled by the pandemic with its initial record low mortgage rates and the sudden migration. home prices are about 45% higher than they were in 2020 according to s&p case-shiller. rents also rose in that period, but they have been coming down recently due to an oversupply of apartments. now let's go to the battlegrounds. the share of income needed to own a home today has at least doubled since 2020 in four out of the seven. arizona has seen the smallest change. these are the three states where it is least affordable to own a home. and georgia is not far behind. on the rent side of that, north carolina saw the biggest jump in the rent burden while nevada's rent burden actually went down. now both harris and trump agree housing costs are too high. harris has proposed building 3 million new housing units with an expansion of an existing builder tax credit as well as

new credit. she's also called for a home buyer tax credit as well as rent caps. trump is less specific but has called for opening more federal lands for housing and cutting back regulations to make building easier. trump has also said he'll lower mortgage rates but, of course, presidents don't set interest rates. back to you, becky. >> diana, thank you very much. >> not yet. coming up -- both candidates making their -- did you hear that, andrew? >> i did. >> it's a joke. i'm joking. but in eryve jest, final votes -- eamon javers will join us.

vice president kamala harris, former president donald trump making their final pitches to voters. eamon javers is tracking the race to the finish line. this is not a jibber jabber segment. if you haven't trademarked that name yet -- >> i need to get on that. >> phenomenal, it's gold. >> former president donald trump

spent the third day of his presidential campaign in three key battleground states on monday starting off in raleigh, north carolina, before crisscrossing the state of wisconsin with stops in reading and pittsburgh and a nighttime rally in grand rapids, michigan. >> it's amazing, i love you all. you're very special. this is my last -- my last rally. can you believe it? there's never been anything like it. >> trump was surrounded by family after a campaign speech hitting his recurring theme and suggests if he loses gas prices will go to $15 per gallon. the one battleground state that trump won back in 2020 so an indication of worry on the part of the campaign he was on the ground shoring it up on the final day.

vice president harris spent her day in pennsylvania and made remarks in allentown, pittsburgh and philadelphia. in allentown harris said she had momentum on her side and pledged that instead of seeking to jail people who disagreed with her, she would give them a seat at the table. in philadelphia she was flanked by celebrities as she wrapped up her campaign. >> just one more day. one more day left in one of the most consequential elections of our lifetime and momentum is on our side. >> we expect kamala harris to overnight at the vice president's residence in washington. each candidate will then hunker down and, like the rest of us, wait for results. back over to you. >> the running total used to be

no days, no hours -- >> the countdown is over. >> at 6:00 a.m. this morning? >> i think it was until 6:00 a.m. >> midnight last night, dixville notch. the official vote count and it is tied. 3-3. even that tells us nothing although it's a bit of a swing to trump. we had the first actual votes to count and this election -- and nobody knows anything this morning. >> that settles it. >> based on those six people. maybe we should just let them do it. nobody knows anything. and think about the momentous swing in these two political parties. during the bush/gore tie in 2000 and yet here we are on election day in 2024, still tied. it is striking to me the republican party has gone through so many changes, big business and evangelical christian conservatives to a

working class party that is very different than it was even six years ago and yet the tie remains in place. >> frank luntz was talking about how donald trump is pulling more paycheck to paycheck workers, workers were living paycheck to paycheck more than any republican has to this point. the democratic party has changed, too, pulling in more high-income workers, men and women -- >> and pulling the cheney family, right? think about how different the democratic party is than it was just four years ago. >> free speech and peace. >> right. exactly. these are two very different parties and yet the country is still as divided as it is today. we have no idea where this thing is going tonight. and i think that makes it exciting, although they say, i'm told, markets hate uncertainty, and here we are. >> the markets have not been moving around too much based on uncertainty. >> because of the house/senate split. >> well, look, either way, you might have divided government in congress, and that means whoever gets elected today in the

presidency might not be able to do all of the things they're promising on the campaign trail. a lot of campaign promises out there. donald trump has been out there talking about ending the income tax and going back to where you had tariffs only. that's probably not going to happen. >> the polls -- in 2022 they were so wrong, but now they tell us they've adjusted for the mistakes from 2022, but we don't -- >> we don't know what to make of it. >> you have to get off the poller-coaster. >> a lot of voters who won't say they're going to vote for harris will vote for harris. >> not even my dad, he won't even answer the phone. >> people don't answer questions. w shy voters. >>e'll see you a lot in the next 24 hours. >> it's going to be a long day. much more on the elections, the markets and so much more. stay tuned. you're watching "squawk."

welcome back, everybody. joining us right now to talk markets is alicia levine, the head of equities at bny wealth. it's election day, but do you really want to start talking about that and what the market impacts might be depending on what we don't know what's going to happen tonight and tomorrow?

>> so we've been telling our clients who, you know, people are very concerned about this election on both sides. we tell our clients never invest with your politics because markets always see through and trade on fundamentals and not who is in the white house and not who is in congress and so ifyou look at all the configurations of congress and who is in the white house, the markets rise in every administration because ultimately markets reflect the fundamentals of the u.s. economy and earnings and growth and margins, and that's what we trade on. >> and it's still america. >> and it's still america and still the place where capital is treated the best and we have the deepest markets, the deepest capital markets, and so we still think there's american exceptionalism. so for markets, we see a lot of conversation around it but you have to see through it. >> the markets have not only been pretty robust through this. we're talking up 31% year to date, so none of that

pre-election wobble type of situation. do you expect to see a post-election bounce? >> so we're in the strongest quarter of the year. december is the strongest month. typically you see the bounce to the end of the year. it's been very surprising that there hasn't been any angst in the market at all. there's been some consolidation around this 5800, 5900 point, but that's been the extent of it even as the bond market has sold off 60 basis points on the ten year. the market sees through all the discussion, all the polling, and ultimately the economy is fine, corporates are fine, cash flow is fine. that's what the market trades on. whatever the policy is is going to be priced in and we move on. >> if the election is not going

to phase you, what about the fed meeting that starts tomorrow? >> so -- and it's interesting. it's a day later. so the presser is on thursday. we're not -- it looks like the jobs report on friday that came in at 12,000, and even if you add back in that 100,000 that maybe we're assuming that's what's missing -- >> the 100,000 from the two hurricanes that took place and the strike at boeing, which has now been resolved. >> right. >> that gives the fed room to cut the 25 basis points just to make sure. i think that, you know, cutting the 50 basis points and then right after that getting this really strong data and then revising upward the previous jobs numbers was not -- was concerning probably and that's where you start to price in maybe they don't cut twice into the end of the year but it looks like they will because of the most recent. >> probably nothing this week, nothing unexpected. >> i don't think it will be unexpected and i think they'll just be very careful. if we do have a president at

that time, i think it's not going to be referred to at all. it's going to be about policy, inflation, growth, and where the real rate is. >> and finally let's talk earnings. for the most part have been pretty strong although a few tech surprises. >> the earnings themselves were good. it was the guidance, right? and, again, we're coming back to the capex issue on large cap tech. earnings season has been good. we're coming in 3% or 4% better than expected which is strong, 75% of companies are beating, but some of the bellwether names where capex is continuing to grow and even though you are starting to see an acceleration in revenue in the a.i. parts of those businesses, as long as capex is growing and it's crushing some of the margins there on the free cash flow, you're going to maybe have some consolidation in these names. ultimately we still think these are the winners. you have to go through the capex cycle here, but that's really what caused some of the pause

here. and in the end, it wasn't a huge sell-off. it was just, oh, you had a great quarter. you're guiding capex higher. >> overall you're pretty positive. >> we're positive on the market regardless of what happens tonight, today. we think congress will be a divided congress. that's going to be the most positive thing and we'll know that tonight. >> and if it isn't -- >> and if it isn't, does the market fall or rise? >> i think you'll see it more in the bond market than you'll see it in the stock market. the stock market is telling you it can go either way. regardless of what's happening with the betting markets and the polls that we had over the weekend, the stock market is pretty steady. you're seeing it in the bond market because the positioning in the bond market has been very extreme on one side. so you'll see it there. you'll see a continuation of that trade or the unwind of that trade once we know congress tonight. >> good to see you. >> thank you. >> it's being reported bernie marcus passed away on cnn from an internal memo obtained by

cnn. i'm seeing it other places. >> home depot, of course. >> one of the found eers of hom depot. >> a trump supporter. he was 95 years old. began, arthur blank 1978 and, if it's true, condolences to his family. but we'll work on our own confirmation. coming up, an election day debate between stephen moore and former obama campaign manager jim messina. and a programming note, cnbc will bring you live coverage of election night all night long. we'll have the results as they come in, and reaction from the biggest names in business. special coverage starts at 7:00 p.m. ah, these bills are crazy. she has no idea she's sitting on a

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welcome back to "squawk box." election day is finally here

after hundreds of polls and thousands of data points, we want to know which ones will have mattered when the votes are finally counted. senior economics reporter steve liesman joins us this morning with his election night preview. professor, what you got? >> yeah, andrew, not mine but i sat down for an extended talk with four polling experts. i asked them, imagine we have the results, what data points do you look back on at all the polling that's been done as having been decisive for a trump or harris victory. let's start with nbc's steve kornacki with his famous electronic board telling you which county he's watching for early clues about a possible harris victory. >> let me just show you what's happening in chester county, one of the big suburbs of philadelphia in collier county. biden won by a little over 17 points in 2020. that was up from a nine-point clinton win. you go back to when romney was running, that was a dead even county. this typifies what we've seen in higher income suburbscentrati

diplomas. if harris holds on to the win biden got in pennsylvania, this number, look for this number to be over 60% for her. >> if trump wins, it will be because of the three is, immigration, inflation -- which we haven't talked much about, 66% of voters say that their family is falling behind. their incomes are falling behind the inflation rate and that they're experiencing. and the final i is indignation, the base republican voters are pretty angry, pretty fired up. >> by a 3-1 margin people are seeing more ads from kamala harris. among the persuadable voters, that advantage for harris is 15 to 1 more likely to see ads from her than from donald trump. that's a pretty shocking and substantial advantage. this may be one of those things,

that big advantage harris has had in the ad wars. >> i just look back at our poll, 48% of voters retrospectively approve of donald trump's job as president, higher than he ever had in our poll when he was president. it's higher than joe biden at 41%. and so that overall mood music over the last several months, in fact, over several years, of people's perceptions of the biden's presidency versus trump, might end up explaining why trump ends up winning. >> so you can see the entire 20-minute discussion. everybody gives both sides of the debate there. it's available on cnbc.com now. if trump wins, my take is it was the economy and the inability of harris to respond to the inflation issue especially for younger women hit hard by inflation who might have gone harris' way on things like the abortion issue. if it's harris, it was the democratic turnout machine at her lead. it showed up in our cnbc -- final cnbc poll on the character issues, which was able to offset

the trump advantage on the economy. andrew? >> steve, i want to thank you. i don't know where to go with this because i don't think we'll know what the real answer is until tomorrow, but then we'll be able to look back maybe at what you just reported and see that if it ultimately is right. i think it probably is. >> i think those interesting things, some of them are issue related and some are how they ran the campaigns. and you really can't know -- it's the achilles heel of every poll who turns out. one idea i had, andrew, that might be worth talking about, i was talking to our republican pollster, micah, and i said, i have this idea there are more demographically 20-something kids who are going to go and knock on doors for the democrats than 20-something republicans who are going to knock on doors for republicans. he agreed with me on that but said don't underestimate the

republican get out the vote machine. he feels they've gotten their act together compared to past elections. that's the key to this election and the polls can't pick it up. >> predictions are especially hard when they're about the future. steve, thank you. we'll see you in a little bit. right now it is time for some breaking trade data. rick santelli is standing by. you have the dow futures up 43 points. the nasdaq up by 71. rick? >> reporter: yes, this is the trade bounce. we know it's going to be a deficit. it's for september. in the zip code of 84 billion with a minus sign. how does that compare with history? that would be the biggest deficit going back to, drum roll please, pretty much april of '22 to find a bigger deficit in the rear-view mirror. we can see the jump versus

august. the rear-view mirror is minus 70.8. we leaped up to minus 84.4. s&p global pmis. get this, becky and joe, i always like to talk about auctions and 3s, 10s, 30s. there's crossfire between what's going on in the market based on supply and debt issues versus what's being attributed to the election. but look to the uk. the uk this morning already had an auction of ten-year guilds. the size of the auction was roughly about 5 billionish and the auction did not go well. yields jumped up to over 4.4%, a one-year high based on closing yields when they do close it certainly looks like they're on pace for that. so the reason i bring it up is if you look at all the dynamics that have changed in the uk, the fact that they need to auction off so many more securities this

year, looks like close to 400 billion of issuance, much more than they expected before the recent budget came out. think about that and aim that microscope to the u.s. today we have an auction of 10-year notes here. i think it will be an important auction to pay attention to. 1:00 eastern is when we button it up. joe and becky, back to you. >> rick, you think it's the same issue, too much issuance that's being done? is there, i guess, some sort of halting acceptance coming from investors on this just when you point out the differences or the similarities between the uk and here. >> you know, i think the easiest way to look at this is just a matter of price and yield. i'm not sure that the market and investors can't gobble up more securities, but i think the real issue is how much they're going to get paid, what type of interest rate they're going to get, and i would look at every dollar and investing by

investors into sovereign debt is going to be much more discriminating in the months and years ahead. >> being . excellent point. rick, thank you. coming up, trump economic adviser stephen moore and former obama campaign manager jim messina will join us for an election day business conversation as americans head to the polls. "squawk box" is coming right back.

welcome back to "squawk box," everybody. the futures this morning are in the green. we have dow futures up 51 points. s&p futures up by 12. the nasdaq up by 74. we are await to go see what happens on election day. >> apple looking into potentially joining the market for smart glasses in the vein of meta's smart raybans according to bloomberg which says apple is studying something called code name atlas, examining a range of similar products. the report says apple employees are providing feedback. the current device worn on the face. its $3,500 starting price accessible to a certain segment of customers. the question is whether we'll see apple come out with something like those meta

raybans or will get to see them leapfrog what meta is trying to do and what snap is trying to do with ar in the glasses. both companies came out recently with prototypes. they're very cool and still appears to be several years away. florida, north dakota, and south dakota, while nebraska weighing in on medical marijuana. the cannabis complex has seen gains in the last month with canopy growth up about 25%. aurora cannabis up more than 8%. know what you're smoking if you -- >> in terms of how much stuff there is in it? >> it's like 300 times more powerful. and orally can be even more powerful than that, the thc content. >> crazy. >> it is crazy. when we come back, our final pre-election economic debate.

trump economic adviser stephen moore and former obama campaign manager jim messina will join .y st tuned. you're watching "squawk box" and this is cnbc.

the presidential candidates have spent the last 24 hours crisscrossing a key swing state making their final pitches to voters. joining us now trump 2024 senior economic adviser stephen moore and jim messina, former barack obama campaign manager, who is now ceo of strategic consulting firm, the messina group. would you gentlemen like to handicap where we are? is there any use in trying to do that? does it matter what either of you think? you might have some -- or do you just want to talk about the economic plans? i'll leave it up to you. >> i think there's good news in the early numbers for both sides. i think what is true is this is

the closest race i've seen since 2000. i think anyone who tells you they know what's going to happen tonight is drunk. >> and it's like 8:00. >> it's early, yeah, exactly. >> there are people like that. >> there are. >> it's not good. it's a sad -- churchill, i think, half the time. >> it's exactly right. >> i'm afraid to go to you. if you start slurring, stephen, we're going to put you in that camp. are you all right? >> well, look, i think that you guys, first of all, did an excellent analysis on where we are in this race right now. if you're trump and you want to see him win, as i do, you want this election to be -- remember, clinton said it's the economy, stupid. we want it to be about it's the pocketbook, stewupid, your 401( plan. there is very little question, joe, if you ask voters who is better on the economy then clearly trump will win. this is all covered in my book,

the trump economic miracle which just came out. trump's performance has been far superior on the economy than under biden. on the other hand people will vote on things like abortion or social issues or other concerns, then trump might have a problem. we just keep pressing the fact that the economy will be much better, and one other quick thing, because your show is basically about investors who want to make money. come on, folks. if kamala harris is elected, she wants to double the capital-gains tax. she wants to increase the dividend tax. she wants to tax unrealized capital gains and raise the corporate income tax rate. that will depress the value of stocks. it's that simple. >> jim, you have a lot, i think -- stephen has a role, but you can probably sell a lot of things about the current economy, the stock market, gdp, inflation has come down. you have a lot of things, but the one thing in a lot of ads that still, for someone who

works at a business network, there still seems to be, and maybe it's not all corporations. i think we all love small corporations and startups. but there seems to be kind of a target still on the back of corporate america and big corporations. i hear is in the harris ads about i'm going to end price gouging and i'm going to raise taxes and make corporations pay their fair share. is that not fair? >> i don't think it's fair. part of what she's really campaigned on, which is the first democrat since clinton to campaign on is the small business tax cut, innocencentivr small businesses. voters are concerned and both campaigns have an idea. stephen's candidate wants to put the largest tariffs on chinese businesses, which will absolutely tank our economy, and i think stephen would tell you that. and so it's two very different views, but i think she's really laid out a very clear agenda for small businesses. >> i don't think you would tell

me that, would you, stephen, when you say the tariffs are going to tank the economy? maybe you would. with what he said he wanted to do in terms of across-the-board tariffs, 20% on certain -- even h higher on other individual cases, do you think it would tank the economy if it passed, if he did all that? >> let me go back to the issue of small businesses, because if you look at small business confidence measures, and we have those. those come out every month. those numbers have been consistently in the tank for 3 1/2 years now. small business anxiety, small business fears about what the biden people have done to the economy have been astronomical. i guarantee you, joe, if you had ten small business men and women on up show right now, eight out of ten would say they think trump would be better. now on tariffs, you know me, joe. i'm a free trade guy, not a big

fan of trump's tariffs. i do think they're mostly about negotiating tactics, and i think they're about getting a better deal for america because other countries are taking -- eating our lunch on trade, and that's not going to happen if trump is president. >> jim, do you think any of the -- and itch said and have had people tell me -- in prior elections if the economy and the stock market are in this shape the incumbent has done pretty well. although it's a little bit different because of the inflation that we went through. do you think any of the strong economy has to do with the corporate tax rate being cut and some of the other pro-business things -- is some of it left over from what trump did, or is it all the i.r.a. and the chips act and everything? i don't know if i would go messing with the corporate tax rate, if we really love the economy the way it is, if it's not broken, why go to 28 or whatever? >> two things. one, i don't think you're going

to ask a political hack about economic -- >> well, that's why you're here, though. >> right. but, two, more importantly, if we're ever going to balance this budget -- >> it's not going to be through corporations. >> some of it. we have to have entitlement reform, we have to do both things. stephen and i probably can agree on two things, and i'm trying to be bipartisan on election day so everybody votes. >> is that a purple tie? >> deep blue. stephen and i both agree that trump's tariffs are ridiculous and would do damage. >> i didn't say they're ridiculous. >> thank you for agreeing to that. and, two, what is even more important is that business has a real role to play in the next 96 hours. you laid this out this morning in your newsletter and other things. business has to calm everyone down. we are likely not going to know who wins tonight, and it may be for a couple days, and, you know, given trump's behavior in the past, we're about to go through some very difficult

hours. it will take a bunch of business people to say let's take a very deep breath. let's count the votes and see who the president of the united states is, because i promise you, stephen, your candidate will try to say he wins tonight. >> one of my hopes, obviously i hope trump wins, but i also hope this is not a race that goes on for six or seven days where you have all sorts of, you know, disputes about who won this state, that state. that wouldn't be good for the country. let me just make my closing argument, and that is that democrats have won the white house now for 12 of the last 16 years. and people -- every poll has shown, joe, when it comes to how do you feel about the direction of the country and the economy, two out of three americans say it's not going in the right direction. so if you like the direction of the economy, you should vote for kamala harris. if you think things are off on the wrong track, as most people do, trump is the guy. >> yeah. i don't know if i blame that on the democrats -- i blame everything on social media, don't you think?

>> my biggest challenge of our time, why are we so divided? we now get information just from one place and we don't get out. we were talking earlier. one network calls the two of us nazi and the other says we're gods. can we have a little bit of discourse in the middle? i think you try to do that every morning. >> i think small g -- >> big g. >> big g gods. >> i'm undefeated in presidential races. >> do you want us to tell you you're so-so? >> can i ask a question because we were talking to vivek ramaswamy in the last hour, and one of the things he said was the vice president, if she was elected, was going to tax unrealized gains. i have not seen her -- i've heard her -- obviously the biden administration said that was the case. she seemed to distance herself from that. do we know the true answer of what her actual policy is? >> she laid out a plan and in none of that was there.

she's clearly walked away from that. i used to be the chief of staff of the tax committee, it's a bad idea. i now live in silicon valley. the place would riot if she did that. >> expectations -- >> is it still there, steve? >> this is the problem, though with kamala harris though because she's had all these positions she's taken. she was for reparations payments. now she's not for that. she was for medicare for all, getting rid of private insurance. now she's not for it. >> steven, steven -- >> trump was a democrat. >> weill the real kamala harris please tell us who you are? >> former president trump was a democrat who supported abortion. so at some point, there's nothing to say in this regard. >> well, if we don't. >> you don't know what she used to believe and what she currently believes and we don't know now. >> we know what she believes in, and unfortunately, i think what has been so much misinformation, it's been recast.

i do not believe she believes in taxes on realized gains and i think that's clear. >> we don't know enough. you don't think we know enough. >> she's made a very clear plan. >> she did say she was in favor of the biden tax plan. she said, i'm going to run on the biden tax plan, and the second part of that is tax on realized gains. i don't think it's going to happen, but it's in there. >> steven, you keep pretending that we're not going to do the tariffs thing, like, you can't have it both ways. you can't say, oh, he doesn't really mean that. it's negotiation tactic. he lays it out, and it's exactly what he did. >> both campaigns have done it. we've talked about it again and again and again. >> exactly right. >> i think if trump wins, we're going to have very stiff tariffs on china. that's something about 70% of americans would favor because they have predatory practices, but i don't think you're going to see big tariffs on, you know, our al llallies, but i think we going to be tough with our enemies. >> all right.

steven moore, and trying to remember the quote about angry eyes, but i can't figure it out. >> this is going to make me rich when trump wins. >> those angry eyes. >> thank you. that's nice. >> no relation? >> no relation, i wish. could you imagine? >> 2024 or 2026? >> i have. i tried. >> you tried? >> no relation. >> that would be cool if there was. >> yeah. >> and steven, you're related to michael moore, i know that. no. that's probably not -- all right. probably not? >> probably not. >> thank you both. all right. coming up, we've got some top stocks to watch ahead of the opening bell on wall street. stay tuned. "squawk box" will be right back.

home depot cofounder bernie marcus has passed away. the company sent the following statement to cnbc. the entire home depot family is deeply saddened by our cofounder. we owe a multitude of debt. he was a visionary, but even more importantly, he valued our associates, customers, and

communities above all. he's left us with an invaluable legacy in the backbone of our company. our values, we offer our sincere condolences to his wife, billie, and the entire family, and he will be missed. he's a friend to the show as well. for years. we are now just a little more than a half an hour. let's go to don chu who's got these premarket movers on this election day. >> sure thing. we'll look at these shares after workers voted to approve a new labor deal ending a strike that lasted more than seven weeks. 59% of those workers voted in favor of this new deal, which includes a 38% wage hike over four years. that stock is up nearly 2% right now. also watching right here, falling 17% after reporting third quarter results, and it raised its annual revenue guidance for the third time. the data analytics firm is

bet betting on strong spending from customers and companies looking to adopt generative a.i. technology. those shares have had a massive run over the last year, up 156%, and it will end with a check on shares of a company, marqeta. they reported third-quarter earnings that came in below expectations and revenue that was in line with estimates. the platform transaction processer, card issuing platform also forecasted fourth quarter revenue below estimates as well. as a result, teams including deutsche bank downgrading their companies. i'll send things back over to you with marqeta down 34%. >> thank you. in the meantime, open a.i. plans to transfer its nonprofit structure into a for profit business. they're in talks to change its corporate structure. it would change to a public

benefit corporation, and that would allow it to maintain its mission for social good while also operating as a for profit company. it's been something that's been watched very closely, and has people wondering how they really pull this off. it's been coming for some time. all right. we want to tell you about some of tomorrow's squawk lineup. the day after election day, here are a few of the names including investing legend leon cooperman, barry sternlicht, david rubenstein, and others will also be joining us tomorrow. we'll dig through the election results we know at that point trying to figure out what the plan is between now and inauguration day, and the first hundred days of the campaign. by the way, you can get that coverage tomorrow morning starting at 5:00 a.m. we'll be here an hour early following cnbc's special election coverage. it all begins tonight at 7:00 p.m. that goes through midnight, then continuing coverage midnight

through friday. "squawk box" will be here at 5:00 a.m. eastern time tomorrow, and we can't wait. we're going to get a final check of the markets before we hand things over to "squawk on the street." right now it looks like the dow futures are up by just over 30 points. s&p futures up by 9. the nasdaq up by 50. the market has been on a run this year. the s&p 500 up by about 31% for the year to date so far. so none of the election -- re-election wobbles that you would typically see. at this point, it's full speed ahead. where you have seen some wobbles, it's the bond market. yields have been steadily climbing higher. ever since the federal reserve decided to cut interest rates. you can look at it today, 4:32. >> bitcoin was not doing a lot, below 70. >> dgt up. >> i have been asking, you know, different a.i. when do the -- when does it start leaking some of the exit polls? because you're not allowed to

say anything other than pure demographics. >> what did it tell you? >> it just wrote -- it wrote that you can't say anything until 5:00 p.m., but you know all throughout the day there's -- you hear this inn innuendo, rumble about what the exit polls are showing. >> the exit polls aren't always right. >> they aren't, but it's probably starting now. >> right. that's a lot. first of all, make sure you go out and vote, and then make sure you join us tomorrow morning right here, 5:00 a.m. eastern time. right now it's time for "squawk on the street." we'll see you later. ♪ it is election day in america. millions lining up across the country to choose the 47th president of the united states. 80 million have already voted. much at stake. polls suggesting the race remains extremely close. good tooz morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer and david faber. the future is steady wit