what next, santoli, you there. he's my movie guy.do you remember that there was one company. there was one company at that time >> amazon. >> we're headed there. it's going to be amazon. nothing else. >> we finished talking about walmart, and how there's not a weak point in their earnings, and a couple percent of gdp. >> can i still buy a book at amazon >> you can >> yes, you can. >> you don't have to yet, though, but you can. >> think about amazon, think about that think about, i mean, there's a picture of him here at the nasdaq, becky, remember that picture of him, and you know what he looks like now. >> ringing the bell. >> yeah, exactly ringing the bell he looks like robocop. >> terminator, the guy we used to put on with the funny laugh now he looks like adonis classic the way the world works. >> you were talking about 30 years ago, buffet should have bought that company. that company didn't exist 30 years ago. i'm one of the early subscribers to amazon and i think my account goes back to 1999, 21 years ago. >> amazing, young guy

i'm becky quick along with joe kernen andrew is out today mike santoli is with us.ve been watching the u.s. equity futures which have been in the green all morning right now the dow indicated up 124 points the s&p by 12 and the nasdaq by 34 let's call it >>> here's what's making headlines at this hour twitter suspending more than a million accounts a day in may and june according to "the washington post. the newspaper says that the suspensions were part of an effort to try and reduce the flow of misinformation on the twitter platform and adds that the pace of suspensions has continued this month as well. >>> starbucks has announced plans to eliminate plastic straws from its stores by 2020 it will make alternative straws available. it will also develop strawless lids for cold drinks >>> and nissan is admitting it altered tests in japan it had allowed unqualified inspectors to conduct post-production tests at its plants the erroneous testing did not affect cars that were exported to other countries >>> an update this morning for you. that mission to save a group of bo

here we go again, right, santoli?lso got this tailwind of people wondering if the government should make it easier to reassure semi production a lot coming together there. by the way, what a great entry point pour him to come into that job. stock really cheap, kind of at the end of a multi-end range >> you can confirm the dow point, too, santoli? >> yes, i can confirm that much, i can remember with microsoft, november of 1999 >> as long as you're here, i'm going to use you >>> the european union is finalizing emergency legislation that would allow it to curb vaccine exports for six weeks. that's according to the "the new york times." the move comes in response to supply shortages in europe and a rising third wave of covid infections britain would face the biggest disruption followed by canada and israel between february and mid-march the eu allowed a company to export more than 40 million doses to 33 countries, while 70 million doses stayed within the box. but politicians in europe have been facing a backlash only 10%

>> mike santoli, this is unprecedented. know what, 100 years at barons isn't going to help you here >> reporter: no. no, absolutely not unprecedented in so many ways. you kind of hopefully anyway front loaded an entire recession's worth of unemployment claims into a single report. i know it's now common place to say what matters most is the duration of this intentional stoppage of the economy, not as much what the numbers in a freeze frame look like today, and i do think it's what breaks along the way. do companies remain in place to rehire when we get through all of this? i know the market instinctually is going to want to have an excuse to anticipate and look through this huge shock. it will get it right eventually. the question is has it gotten it right already by coming off these lows because often we also know that it over anticipates these things so i think it's -- anything that can give us a clue about the duration of what we're in right now. but i also agree that the other impressive part as folks were saying, this

i think santoli mentioned this this is an initial hop we got back 16%.i can get back another 16, another 16, another 16, if we can keep it this pace, we can get back to normal in several months but the question is did we get an initial pop of people coming back and then the pace of recovery slows yeah, you're right you talked about this for years, joe. the law of large numbers the more -- the bigger these numbers, the harder it is to come back. we'll have to watch this now i think santoli is going to talk about this idea of forecasting the future and how much better does it get. how fast >> rick, he's had so many expressions through your last soliloquy. what were you thinking when steve started out? he did do a green chute report, rick you were laughing. he did, right? >> yeah, yeah, no, hey, listen, it's not too late to join it's okay to trade and be long the market party we welcome all comers. remember, nobody's crystal ball is without fault we've heard from literally the brightest, the best, the most historic traders ever to walk the planet over the l

do you live in the city, santoli? even notice. >> underground, mile and a half, no problem. >> you should come out to the heartland where trees are down, roads are closed, power's out. >> got some exposure to that in different places. >> you like it at the met or the moma >> no, what's that >> i love this exhibit anyway, futures right now are indicated up a little. actually, down up, down up, down less than a point on the dow, down 15 on the nasdaq. s&p up a half a point. let's see where facebook which has been the story, improved, 165.50 to 165.69 so it closed at 168. down maybe another 2.5 points this morning. >> after losing $49 billion in market capitalization. >> in the last two sessions. yeah, almost 10% take a look at treasury yields big meeting today. big meeting. big. powell and all of his buddies. up 2.9% now on the ten year. >>> let's get you caught up in what's making headlines this morning. congress racing to beat a midnight friday deadline to avoid another government shutdown ylan mui tells us that spend

our guest host this morning is mike santoli good to see you.ood to have you here as we talk about what happened yesterday, maybe set things up for this morning. stocks yesterday erased a 500-point drop in the dow to close 34 points higher it was something to watch throughout the course of the session. i asked what happened. what is the answer >> i don't think we missed any key headline, any one specific thing. i think you have to -- in these high stress markets, you have to relieve yourself of the idea that it's pricing in new information. in the morning, the s&p broke through 2600 it touched just about the closing low for the year about 15 points or 18 points lower. it seemed to be just about that. you had to touch the hot stove to see if it was hot and it was then europe closed the news about apple people are itchy to see if this bottom range will hold >> it's been down there four times, right >> just about four times yesterday there were two stocks down for every one up. the banks looked ugly. the transports were bad. it's not as if everybod

just like santoli, thank you, diana olick. mike, good morning how are you?> good morning. >> did santa bring you everything you wanted? >> yeah, no complaints no complaints this year. >> what do we want when you get to where we have everything? >> a little bit of time alone, i don't know >> underwear >> although that's not what we wanted after this year it was tough to come up with a list but i guess i'm in good shape not having any regrets on it let's talk about what's going on across the world here. shares of alibaba fell nearly 8% in hong kong overnight the stock down about 8% in the previous session last thursday as well after chinese regulators announced a probe into monopolistic behavior. tencent also fell sharply. >> baba shares fail, antgroup is ordered to comply with regulatory requirements and rectify its businesses china bank executives ordered them to bring their business into compliance with regulators and switch the focus back to the payments business. it said antgroup lacks sound governance, defied regulatory compliance and engaged in regulato

mike santoli will join us with a look at one wall street firm out with a bullish call this morning. head to a break, let's take a quick check of what's happening in the european markets. the biggest decliner is the cac in france expanding the losses that we saw earlier this morning at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch managers happy. at&t provides edge-to-edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when this happens you'll know how to quickly react... this is a tomato you can track from farm, to pot, to jar, to table. and serve with confidence that it's safe. this is a diamond you can follow from mine to finger, and trust it never fell into the wrong

santoli sleeps in a suit. >> yes. >> he sleeps -- that's his -- this is santoli's casual thursday.the zip sweater. >> i'll surprise you. i'm going to be -- i'll tell you and mike and leslie right now, i will be in a sweater tomorrow. it might be a zip. it might be a v-neck. might be a crew-neck. might be a tie or festive shirt underneath it. haven't thought quite about it yet. >> dom, it's new year's. should be a tuxedo. >> leslie evening down. >> i'm not wearing sequins at 6:00 a.m. >> make it worse! tuxedo? >> not doing a tuxedo. no. >> and near record highs for the s&p. you know? bonds bringing metaphorical fire. dom can't put it up on the screen. >> this is on brand for us. right? the comcast, you know, kind of christmas tree there at rockefeller center. still festive. i celebrate christmas. so i'm very into it. >> i'm going to play christmas music until, like, end of january. until that tree is dead, every single needle has fallen off on the living room floor. all of these charlie brown christmas on repeat. >> glad we got the wardrobe set up for 24 hours from ow. dom, thank yo

i think that would be prudent. >> santoli or jack, american express is less than 100 billion.ess than 100 billion. caterpillar less than 100 billion. ge getting close the oldest dow component will it always be a dow component, jack? >> i really think the committee would have a hard time removing ge it's just such a storied company. >> i know. that's part of the tragedy >> what is ge going to be? that's the fundamental existential question that investors are asking if they're only $4 billion in the $20 billion sale of assets that they forecasted, we don't know what will be left of ge and whether that reflects the economy as we want it to be reflected in the dow jones industrial average >> you're right, melissa 31% of revenues are coming from the power business that is not going to be a quick turnaround you know, secular decline in the industry, they doubled down on it with alston it's just scary how poor the decisionmaking was in m&a. >> you would look at the alternatives at 1$115 billion in market cap honeywell just below it does that change the complexion of the dow if you sw

mike santoli, the futures are off their best levels.t seemed to coincide with that number that was a pretty big number that probably may not have been in the -- may not have been expected even to that extent, i guess. >> reporter: no. obviously there's still sticker shock at these levels. 10 million new jobless claims in two weeks. the market has never dealt with this investors, consumers have never dealt with it. front loading the impairment recession in a few weeks' time it gets right back to how long this period lasts. essentially has every business already had that working its way through the claims system and then how long before we reupdate again. what's the policy response is it enough along the way i do think that's where the debate is going to move to in terms of, you know, obviously you have the enhanced unemployment benefits and things like that, but just exactly what it means as we have these economists on wall street trying to revise their gdp estimates for the next three quarters. the market goes down 35% in a straight lin

joining us for the morning is markets commentator mike santoli.hing because we have a lot to talk about today after that wild ride we saw yesterday with the dow down by almost 150 points at one point during the session, ended up with the dow down by 125 points. this morning you do see some continued red arrows, but these declines have lessened throughout the morning right now. the dow futures indicated down by less than 25 points s&p futures down by about ten. the nasdaq down by 3637 let let's start with at&t. earnings coming in at 90 cents a share. that falls 4 cents shy of what the street had been expecting. at&t also says it continues to anticipate that its full year earnings will come in at the high end of its projected range. also talks about a lot of different things their warner media is accretive to a gain of 5 cents to the eps. and they say they're on track to hit two times ebitda by the end of 2019. talking about the north american wireless net adds were 4.3 million. we'll take a deeper look at that through the morning. >>> shares of tex

how big is barkleys, santoli >> marketwise, i'm glad i'm with a solid u.s.apital behind it. >> barclays looks around 6 billion. >> go with citigroup what are they? >> even with the problems, back to 180 how about the industry leader, j.p. morgan, 381 billion. >> yeah. >> you have a little economic problems, you've got 381 billion. it doesn't disappear, like 35 billion. deutsche bank -- they do derivative -- you feel comfortable with that. >> it was more, $5 billion more. >> trying to bring back the facts. >> okay, don't do that. >> some more high-level departures at nike analyst sam administratimoser c three more left. dprtur d departures are up to nine. the director of global consumer knowledge. sources tell cnbc one of the executives left for a competitor nike says these departures are not related to any workplace conduct issues the high level exodus began in march when nike president trevor edwards resigned an investigation was announced into complaints of behavior. head of diversity and v.p.s in digital brand marketing, basketball and footwear. these dep

coming up, nafta's out and the usmca -- santoli you're not -- usmca.'s the usmca sounds like the marine corps doesn't it anyway, we're going to talk about nafta -- new nafta on the other side of this break we're joining by the former president of mexico vicente fox for his take oamics ten era'last trade deal stay with us i'm ken jacobus and i switched to the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy. and last year, i earned $36,000 in cash back. which i used to offer health insurance to my employees. what's in your wallet? we're truck and jeep experts,ore than a store. and have been for over 50 years. from wheel and tire upgrades. to full custom builds. 4-w-p has you covered. whether you want to order the best parts online or shop in-store. do the work yourself. or get it done by a pro. all roads lead to 4-w-p. do your rig right. shop online or find your store at 4-w-p.com. ♪ >>> good morning and welcome back to "squawk box" here on cnbc live from the nasdaq market site in times square among the stories front a

i'm becky quick along with andrew ross sorkin and mike santo santoli. joe is off today looking at the u.s. equity futures. right now a mrixixed board dow down by close to 36 points nasdaq up by 16, s&p off by 2. looking at july, it's been the best month for the dow and the s&p 500 that we've seen since january. we'll continue to watch. first trading day of august. if you check out what happened overnight in asia, the nikkei was up by almost 0.9%. the hang seng was down the shanghai was down by 1.8%. looking at europe and the early trading. red arrows across the board. these are relatively modest declines the cac is barely down ftse is down by just under 1%. treasury yields, let's look, you will see at this point it looks like the ten-year is yielding 2.978% two-year up to 2.674%. >>> we have some breaking trade news to tell you about the trump administration reportedly planning to propose a 25% tariff on 2$200 billion of imported chinese goods that would be up from a proposed 10% tariff the goods include food products, chemicals, steel, aluminum and con

. >>> ghcood morning, i'm melissa lee along with joe kernen and mike santoli yesterday we notched record closes for all three major indices and we're looking to build on those s&p 500 looking up 19 at the open, dow by 165, nasdaq by 55 taking a look at treasury yields, we do see them moving a little bit lower compared to yesterday. we have the ten year at 0.943% two year at 0.127% >> and the boeing 737 max returning to the skies for paying passengers today. american airlines will carry about 180 passengers from miami to new york this morning phil lebeau will be on that flight and he will join us at 6:30 a.m >> what's capacity and do we know -- is it full capacity how are they doing it, middle seats, what do we know, 180, that's not full, right but that is how many people will be on it have to get to the bottom of this >> phil will have the bottom >> fuller than most planes right now. >> reading the articles and all the scuttlebutt, just so many factors of the confluence of so many different things. you had the whole 737 max problem and then you got covid, so now you are reintroducing it

mike santoli, for the last word on this.teresting anniversary. >> 83 years since the biggest one-day drop in the crash of '29. october is like that. you run across ghosts all the time because of all that happened there. no prediction of anything like that here obviously. as long as you don't have anything that otherwise would have been tremendously market moving, it ends up being a nonevent. to me it's like vegas sports book when handicapper set the line but there's no betting. nothing that would otherwise disrupt things. we'll probably be okay if we're closed tomorrow. >> better news that market is closed. you have to be worry about people you would have brought down. >> without a doubt. from a market perspective you don't want to trade in and out of an unreliable market. a shallow market. one you're not sure if it's reflective. >> that has to be the beat about whether the cme should keep it open. >> i don't think the cme would trade the derivatives market if you didn't have the underlying market open. it's not a matter of

are you here, santoli?here the rest of the week. >> are you >> i am. >> wow did you draw the short stick or bribe someone? >> you know. >> a little of both. thank you for -- >> maybe one more than the other. >> a long day. thank you. join us tomorrow "squawk on the street" is next ♪ >>> good tuesday morning welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. big show this morning. in a few moments, ginni rometty and jim whitehurst also pepsi's hugh johnston as well, as they beat as well futures imemploy the third day in a row, though, of triple digit declines for the dow downgrade of 3m not helping today. road map begins with stocks in the red. fed chairman jay powell testifies tomorrow on the hill and

mike santoli. rick santelli and mike santoli. >> never happened before. >> and barbara morrison.to run a tape when you could have done that for us live with some personality. >> honestly, i don't understand it either. >> tv i think. maybe we wanted to show that cool camel hair coat you had on. >> you know, the tricks of tv producers are endless. and i don't know what the reason was they did it that way. >> i do like the camel hair. >> i can repeat it right now. >> i think it's worth it to show how good you look in that thing. it's weird, john, when we -- you know, we do talk a lot about the intersection of politics and business because it's been all the talk b. now we have the supreme court and gay marriage. i don't even think i want to weigh it in necessarily to any of that. so let's focus on the things that, you know, are our bread and butter. will there be a grand bargain? they ate some meals together, broke some bread e. will there be talk the next three months? i think that would help the market if there were. >> joe, i have consistently been overoptimistic thinking that all

santoli? like busting loose >> good tuesday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer, david faber at the new york stock exchange. four days up for the dow busy day as we await apple's iphone event this afternoon. bunch of downgrades with names like wells fargo and wendy's on the list europe is mixed. oil six week high. road map begins with apple's moment of truth. set to unveil its latest iphone lineup today, but for a company increasingly focused on services, will it move the needle for

welcome to "squawk box" here on cnbc i'm becky quick along with joe kenner and mike santoli.ndrew is off today. let's take a look at the u.s. equity futures what a difference a day makes. things are looking different today than they were yesterday right now dow futures are down about 30 s&p 500 up by about 3.5, nasdaq up by 42. but yet at this time, the dow was off by more than 500 points we were watching things slide rapidly. and that is not the way the markets closed the day yesterday the dow actually ended in positive territory and that was a comeback to kind of watch and keep an eye on mike santoli will talk more about that in a second we did close well off the session lows, the s&p 500 and nasdaq were lower, but barely. it was an average selloff given where we started the morning let's take a look at the treasury yields. you will see right now it looks like the ten year seems to be yields at 0.938% and mike, that was an incredible turnaround yesterday >> and as a matter of fact the bond market in a sense gave clearance for stocks to rebound. the ten year went done below

we're live at the nasdaq market site in times square i'm melissa leah long with joe kernen and mike santoli. guest is carrie firestone. let's see how we're setting up in the futures this morning at this hour. we did see the dow and s&p see the biggest gains in more than a month yesterday. we're looking to build on the gains. the s&p looking to open higher dow opening 60 points overnight in asia, we had early gains and then they reversed we got ppi data out of china, six-month high there pressured by commodity prices. we do see the shanghai could he mod at this close higher the nikkei was up by .7 of a percent. what is going on in the europe government sand. we are seeing the ftse up by .2 of a percent taking a check on treasury yields $69 billion in supply hitting the market the ten year note at 2.869%. the ten-year note at 2.869 note. the wo-year note at 2.569%. >>> president trump making his much-awaited announcement to replace justice anthony kennedy. >> tonight it is my honor and privilege to announce that i will nominate judge brett kavanaugh to the united states supreme court. >> kava

mike santoli is here with that. the power of active management. by debating our research to find the best investments. by looking at global and local insights to benefit from different points of view. and by consistently breaking apart risk to focus on long-term value. we actively manage with expertise and conviction. so you can invest with more certainty. mfs. that's the power of active management. >>> welcome back, everybody. and the price of crude has rallied over 32% since the february lows. that move benefiting stocks that have traded in tandem with oil since the beginning of the year. but at what price will oil and its rally stop helping stocks? mike santoli is here with more on that. >> thanks, becky. obviously, this correlation has been so tight. it seemed actually a little bit contrived in a lot of ways, but it makes sense in a lot of other respects. which is, for every dollar that oil goes up, you you're actually rescuing a lot of capital out there. basically, high-yield bonds and stocks that are tied to t

. >> i'm glad santoli is here. he laughs. you can't stop this guy.g, he thinks everything is funny. turkey bacon. it's not good. >> it's closer. >> it is closer. but it's not good. duck bacon you can get at dean and deluca. have you been there? or lamb bacon. >> howard stern show. >> a little context, the government panel assesses national security risks. one congressman from connecticut says the deal raises alarms about safety. thailand foods said today it had considered bidding for smithfield. it declined to give more details due to nondisclosure. >> come on. >> futures right now -- we should just have a regular screen. we're going to be showing this every day. >> when michelle comes out, do we want a plate full of bacon. >> sure. >> turkey? bring it on. have you ever had a blt without the "b"? >> yes. >> i have had it when i ran out. one side of the fan. i finish it, but -- >> it's not right. >> you're not kosher? >> i'm not. >> there are a lot of people jonesing -- kosher people jonesing for bacon big time. >> how do you know? >> i was reading it

mike santoli is with us.ve been watching a lot of different things >> stale watching facebook yesterday a feeble bounce in the stock. obviously reaction to whether zuckerberg's words will change the narrative. and also looking at the broader kind of nasdaq 100 fang type group. there has been some efforts to differentiating among the members. so facebook and alphabet have been much weaker than like amazon, netflix. so in-you'll want to see if it will shake out that way. you have hope for nasdaq being the leadership group again but as it is right now, it seems like things will be back on their heels. treasury yields backed down. as rick said, kind of worried about this little soft patch in growth in combination with a fed that wants to look for an excuse >> are you predicting spring, do you know >> it is nice out there right now. >> is it over, do you know >> not snowing right now >> not right now so can we -- it's coming, right? maybe there will be growth >> mike, thanks for being here we'll join you back here

>> reporter: i agree with santoli.e did not get a good number i am shocked that the fed is right there. you know right now, i have nancy -- i have speaker pelosi on tonight and a lot of the issue is what are we going to do for municipalities and states? bingo, you just got a huge backstop there has been some question about what's going to happen with ppp and the loans they just told us, don't worry about the loans. this is the fed working incredibly in tandem with the treasury secretary, steve mnuchin, who will be on at 9:20 today i think to talk about this look, i mean, they're giving it all she' if we got anything that was antiviral, anything that was test, test, test, then i think what you would see is you could reopen the economy now and that is very -- that's what's at stake. how quickly we can reopen it, because there's a lot of people in washington who feel if we have to wait two months then this is a depression if we have to wait one month, it's going to be a u recession, no one is thinking a v anymore i think

we'll talk to santoli about that if i had to pick two -- >> check it out.about it, yeah >> you got china you got manufacturing. you got tech i just think for the s&p, it firms up the tone of everything. let's break down the results sheila, you looked at everything >> kind of just getting a glimpse 806 going up to 905, that's double digit growth. that's strong. about a hundred basis points of improvement. tons of productivity going through. >> so in terms of worrying about trade, what in here do you see that either did happen with trade in china or didn't happen? what's all the hand wringing consternation? why aren't we seeing it? >> i think we talked about this a moment ago this is a long cycle stock the multiple's been capped because of trade negotiations. although it won't move the needle on a seven-year bag log that's what's impeded the momentum in the stocks >> you can't say that caterpillar was wrong or not executing. it's just a different cycle of business for boeing. they're not managing it better they're still being affected or not by china >> yeah.

i do watch that other network occasionally you ever watch it santoli?> i come across it. >> we all channel surf >> we do >> i do. >> i must get stuck surfing. >> i wouldn't say i'm surprised. eunice yoon joins us from beijing with more. that covers the range of things does it not? i don't think that will happen what do you think? >> you know, this is what i don't understand because from the chinese perspective the chinese repeatedly say they will not negotiate with a gun to their heads. then whenever it looks like the two sides will get together and have a negotiation, president trump pulls out a bigger gun from the chinese perspective this is all confusing. the foreign ministry said that the communications had been ongoing, and wouldn't go into detail about the g20 meeting that's supposed to happen next month, where the two presidents were supposed to be sitting down and having a discussion. he did say on the tariffs themselves that the u.s. noise won't intimidate china of course there's a lot of concern that all this noise will affect the stock market

i'm becky quick along with becky kernen aconcer -- joe kernen and mike santoli.t prepared meal kits there's a grocery war with amazon and walmart walmart shares down by 13 cents but you wonder what this will mean for blue apron. >>> results coming in from italy's election yesterday no party appears to have won a clear majority a center right block has indicated it gained the most seats in parliament. that does not include the top vote getter, the anti-establishment five star italy's many political parties will attempt to form a new government and appoint a prime minister a news agency in italy reporting that italy's democratic party leader decided to step down after the election check out the european markets earlier. only italy was down. as you can see, green arrows on germany, france, u.k. and spain but down in italy. check out the dollar, which we've been watching that closely. possibility of a trade war 1.23 >> trump's proposed tariffs are stirring up concerns around the world. emerging markets in particular wavering on this news. joining us right now is rich

you can't have it both ways, is what mike santoli is saying.ys for bearing with me. >> thank you steve. when we come back we're going to talk big pharma companies and their ties to china merck and pfizer both reporting earlier this morning. we'll run through the numbers and talk tariff impact on that sector. and then ark invest ceo cathie wood will join us. squawk cathie wood will join us. squawk box will at&t has a new guarantee. because most things in business are not guaranteed. like a distraction-free work environment. -yeah,i'll circle back around. -get those steps in, kevin. your coworkers keeping things confidential. [phone ringing] oh, she's spilling all the tea. ♪♪ or office etiquette. yeah, that's not guaranteed. i know you can see me! you know what at&t guarantees? connectivity you depend on, the deals you want, and the service you deserve. can i get that logo bigger? or we'll make it right. that's the at&t guarantee. is a bitcoin etf the same as owning bitcoin directly? while bitcoin etfs might offer a familiar face, they lack the t

san told s santoli >> not all the signals are lining up. getting kind of incrementally lower and a little bit more oversold, but it's monot the kind of rush of panic. big institutions reducing their exposure bounces can happen at any time whatsoever but what we do see with a 18-month trend, to the end of october 2020, you've given up all of it since march of last year so essentially, the first quarter of last year is when we first got to these levels. i came into the week saying there's a whole lot of work that seems to be pointing to 3800 to 3900 we'll open up below that or around the 3900 level as we, as we stand right now with the s&p. now one of the reasons the overall market has not gotten fully washed out is some stuff is holding up pretty well. but 80 stocks in the s&p are down less than 10% various value plays are doing well pure growth, the most aggressive, fastest-growing stock is in the s&p down 31% the stuff that's smaller and outside the s&p has obviously been blasted more. take a look at the volatility index. it's been steady

. >>> just after 7:00, mike santoli on the east coast.hope i didn't -- i had placed an emergency call to mike santoli this morning and you answered the call. >> it's half true. i did get an emergency -- >> it just wasn't from me. i'm joe kernen along with brian sullivan and mike santoli. becky and andrew are out today i told you my brackets are busted what can i do? maybe try to make some in game bets once the teams i pick are already down futures right now are down about 230 points it's been a good week for the s&p. these are all the facts you know >> very good week, three days, s&p up 6%. obviously had a big tension release, and what's interesting and obviously we're backing off a little bit today, probably to be expected after that ramp over three days we did get the index right up to the level, if this is a sell the rips market, and everybody seemed to gather around that idea as we kind of started to slide lower in january, this is exactly where you would see people say, okay, i think i can sell something here, i think i can reshort b

my man santoli.'re explaining how they met at starbucks but not in the same starbucks >> looked at each other across the street then they try to meet each other. and switch the next day and be looking at each other. then they finally met at -- that guy is brilliant that's a movie i can't watch it too many times anyway coming up, we're going to talk oil in the markets then johnson & johnson chairman and ceo alex gorsky joins us for an exclusive interview >>> time now for today's aflac trivia question. what airline was featured in "2001: a space odyssey"? the answer when "squawk box" continues. break a leg! aflac?! not that kind of break. oooh! that had to hurt. aflac?! not that kind of hurt. yeah, aflac paid us cash in just one day to help with our car payments and mortgage. aflac! perfect timing! see how aflac helps cover everyday expenses at aflac.com. yourbut as you get older,thing. it naturally begins to change, causing a lack of sharpness, or even trouble with recall. thankfully, the breakthrough

i'm becky quick along with joe kernen and mike santoli. look at the u.s.quity futures, you know that the markets were under some pressure yesterday, big pressure after the dow briefly entered correction territory yesterday, down 10% from its 52-week high at one stage. now down by 9.9% you can see this morning we are facing some continued pressure dow futures indicated down by close to 200 points. decline of 188 right now s&p futures down by 19 nasdaq off by 80 mike, what do you think is happening here we had the trade talk we were concerned about, facebook, social names under technology and the banks. >> a sense of nowhere to hide. all those things you mentioned affect different parts of the market the industrials get hit on the trade talk it pushed the market over the edge a bit the banks being weak is an interesting story. treasury yields coming down. yield curve flattening but also a bit of this stress and clogs in the short-term funding market it's not anything like those systemic issues that we had years ago. a lot of people are pointing to this as th

want to continue this conversation and joining us is chris verone our own mike santoli is with us as i don't know if you can look at the technicals given that we're now talking about something that's non-technical at all. how do you play the technicals at the time when we're playing the headlines? >> we subscribe to the view that price leads data in this business and price leads news. >> right. >> when you look at the response of the market over the last number of weeks even as hesitation around the china stuff came back into play, the market acted great sentiment doesn't seem like much of a threat. the street is running net short of s&p futures when buy look at the market here, we just broke out of a two-year range let's not get too cute and buy any weakness when you look at messages of cyclicality that emerged, copper is breaking out. >> in terms of thinking of the china news, santoli, what do you think is baked into the market do you think this was basically already baked in, frankly? >> i think it's largely baked in, but the market needed and craved reassurance about that. that's

i'm mike santoli with becky quick and steve liesman. u.s.res at this hour just a little bit, right there flat s&p 500 unchanged yesterday. the s&p turned a down 1% morning into about a .3% gain. we've seen this as technically important, plus we have the jobs report this morning. treasuries have been driving the overall. but easing back today. you sighee the two and year note take a look at crypto. obviously, been back on the defens defenseive as well >>> let's get over to dom chu. he's been taking a look at the big movers in the market this morning. >> the moves of kconsequence ar all tied to the interest rate picture ahead of jobs report, the tech turn around that we saw in certain degrees yesterday with regard to the mega cap tech trade. but it is very much about a wait and see thing. we used to talk about interest rate sensitive stocks. and now they're not just bank and utilities but mega cap tech. ahead of the big jobs report and what might be an interesting move in interest rates, apple shea shares are just about flat interest rates are

. >> mike, good to you have here i'm joe kernen with mike santoli. becky is off andrew is around he will join us later. he is in a place where celebrities love to look at the mountains. have you been? i went to school in colorado i have not been to aspen andrew will join us from the aspen ideas festival later u.s. equities are off their lows you heard frank say it i said to mike, it was a crummy week maybe not surprising with the s&p. did anyone think it was going to be up 13%? >> total return is 15% with dividend people will pull it apart. the equal weighted s&p is up a little more. you signed up for an 8% year for the average stock. last week's pull back is textbook we were overheated going into it it wasn't really driven by a lot in terms of bond market pricing and new macro stuff. it seemed mechanical >> and we mentioned bitcoin in the headlines. we don't necessarily do that it used to be related. last time, it started going up from 17 or whatever. the market was not really participating. the market caught up bitcoin pulled back on what looked li

i'm alongside leslie picker and michael santoli.you know them, they're off today. we're going to see if we can end the year on a high note. futures indicating we just m might. the dow and the nasdaq coming in at record highs. the s&p 500 is just 13 points from that all time high. so we can move up just 13 points today, intraday or close, whatever, we'll also hit a new record on the s&p 500. >> closing high. >> the closing high. >> intraday, 48.18. >> where are we now? >> 47.83. about, what -- >> making me do math? 48.18 -- >> 35 points. >> we care about the closing. intr intraday -- >> the closing is, yeah. bob pisani was saying, rare to have an all time high on the final trading day of the year, only happened eight times. >> i think i read on stock traders almanac that, like, we usually -- it is in the script. i like to -- >> you're preempting. >> i do the teleprompter as a suggestion. there is words there, but they may get said, they may not get said. we may fall today. >> yeah. >> today is usually not historically -- >> before th

mike santoli who's here anchoring today will explain when "squawk box" returns.ill have service? call the insurance company it's them, calling us. it's going to be a week before they can get through on these roads shhh, sorry, i didn't catch that. i said ask how soon they can be here not you. right now? what's now? he says they're surveying our property now they're probably at the wrong house i don't see any hovering his name is hovering? look up? by using machine learning and analytics to automate claims, cognizant is helping insurance companies advance how they serve even the hardest-to-reach customers. cool ♪ >>> welcome back to "squawk box. futures pointing higher at this hour up about 100 points gaining a little bit in the last 10, 15 minutes. we've been up 80 for most of the morning. >>> mike santoli has been with us all morning he's got a new column up on cnbc.com this morning. it's about the tenth anniversary of the 2009 market bottom. and what should we think looking back we've come a long way. >> come a very long way. what was fascinating and in fact wh

thank mike santoli who was just speaking kate moore, thank you.sued jason furman and michael strain and i said santoli. thank you, one and all andrew >> okay. coming up when we return, a lot more former treasury secretary jack lew is going to be with us to weigh in on the jobs report. this record number of jobless claims we saw yesterday, and the government's multi-billion dollar small business relief package that is trying at least to roll out today. >>> a little later, don't miss a big interview with 3m's chairman and ceo mike roman after the president slamming the industrial giant over the tweet over the respirator mask exports to other countries we'll be listening to that as we head to the break, take a look at some of the biggest losers this week in ths&50e p 0. stay tuned, we're back right after this these days you need faster internet that does all you expect and way more. that's xfinity xfi. get powerful wifi coverage that leaves no room behind with xfi pods. and now xfi advanced security is free with the xfi gateway, giving you an added l

i'm becky quick along with joe kernen and mike santoli. andrew is off today. ek futures are up once again. you saw the s&p 500 at a record close yesterday. that was the 12th this year for the s&p 500. how many record closes do you think we've seen since the election in 2016 >> 100 >> 100 for the s&p >> i was going to bring that up with whiting he says there's a glimmer of hope now it's a glimmer under new highs. >> we've been long u.s. stocks for five years >> there's a glimmer of hope >> big performances yesterday for the dow and the s&p. if you look year-to-date, nasdaq up more than 16% the s&p up 9.5%. the dow closing close to 84 points up. the nikkei ended up. the hang seng up by 1.7% the shanghai up by 2.5%. in europe with the early trading taking place, green arrows across the board biggest gains are coming in london with the ftse 100 up by 1% look at treasury yields in the united states. those yields have been closely watched. we see the ten-year sticking above 3% trading at 3.03%. >>> apple's new phones are on sale today this was t

. >> cnbc contributor and we've got mike santoli here.e, while you're here, i thought you were back to the ship stuff yesterday now you're -- i don't know every day it's different you just never know where you're -- >> reporter: i like to mix it up. >> keep us on our toes when you see what happened with oil yesterday, can you write it off as just technical, mike? i mean, 16 for june. >> reporter: yeah. >> 16 for june is not much better so something demand wise, and supply, but it's just unbelievable >> reporter: sure. no i mean, the backdrop, this can only happen even if it is driven by mechanical technical forces at settlement, it can only happen if you have a real time glut and there's nowhere to put the physical commodity that's the fundamental pressure. there's more oil traded in futures form, paper form than there is physical oil traded we're talking about people need to take it if you're long oil contracts, you'll just get liquidated it becomes massive off sides call on a lot of people who own oil and so i do think it's a mixture of

>> see, santoli, i get nervous when he gets involved.g i'm not going to say if it is fresh or salt. this is good >> i need to know -- >> i know we did it right. >> that alone would not have sealed it for me >> scott, just so we're clear, it is not a green screen behind you? >> no, no, no. that's real. after we're done, i'll jump in >> okay. >> throw something in. >> at lead west we know it is lt outside. we can take everything west of the mississippi at this point. fair >> maybe -- i don't know i might be a time traveler i don't know >> all right we will think more about these five clues scott's obviously not going to give it away he never does. scott will be back in the 7:00 hour to reveal the runners up. he will reveal the location of the top state in the 8:00 hour let's continue the guessing game on twitter send the best guess. let us know if you recognize where he is or if you have the answer we'll play along andrew. >>> when with we e come back, w quarterly results from jpmorgan chase and followed by goldman sachs in the 7:00 hour l

mike santoli, thank you. >> kelly, you have a long day.andrew made it. make sure you join us on tuesday. i forgot "squawk on the street" is next ♪ ♪ >>> good morning on a friday good morning and welcome to "squawk on the street. i'm david faber with jim cramer. carl quinn la is in the wtanill winter -- he's at the winter olympics in pyeongchang, south korea. been be doing an amazing job covering so many aspects of that let's take a look at

i'm andrew ross sorkin along with becky quick and mike santoli.on this tuesday morning as we get a flood of earnings reports coming in. the dow looks like it would open higher, 64 points higher the s&p 500 up 2 points. the nasdaq though in the red looking to open down about 6 points right about now becky? >> andrew, we've got some breaking news on regeneron i want to get back over to meg tirrell. she has details on that. meg? >> reporter: hey, becky. we know regeneron has this antibody drug. just like lilly, they were testing this antibody in prevention people who live with somebody who's been diagnosed with covid. they are releasing these prevention results right now on their antibody cocktail, combination of two they say in this analysis of 400 people in the trial, they were able to prevent 100% of symptomatic infections prevent everybody from getting the disease in people who live with somebody with covid and we're able to cut down by asymptomatic infection or transmission by half the numbers on the disease part are pretty small eight people in

i'm becky quick along with joe kernen and mike santoli. we are giving back some of the gains. up by 25 points, now by just under 5 points s&p futures up over just a point and the nasdaq up 11 points. here's what's in our headlines we'll get a revised reading on the second quarter economic growth coming up in 90 minutes' time the government estimated the u.s. economy grew at a 4.1% rate economists are expecting that to remain at that level morgan stanley has raised its police target on alphabet shares to 1515 a share. that's the highest price target of any wall street firm that covers the google stock. morgan stanley cites a strong core business along with the wamu autonomous car. google is going before congress with other social media stocks and we'll hear more about that. >>> dick's sporting goods is set to report quarterly numbers in the next 30 minutes. they are expected to post earnings of $1.06 on revenue of $2.2 billion analysts are expecting a slight decline in same-store sales. >>> a few stocks are on the move yum china holdings has rejected a $17.6 billion buyout from

and rick santelli and santoli >> we have indicators leading up to it.rt like where did all those natural resource and construction jobs come from? claims have been low and we have not seen the flow from claims into continuing claims >> wendy, are we going to be disappointed by a strong report, which makes no sense is that what's going to happen >> i think a jobs report that started with a one would be good news we know that the labor market has to slow. we have a smaller labor force than we were on track to have before the pandemic because of deaths from covid, because of less immigration and we know to get employment to a sustainable place consistent with low and stable inflation, these gains have to outlast them a hundred thousand a month >> by the way, the whisper is about 225. of a yesterday, the expectation a little higher. >> tyler, what are you thinking? strong weak >> if the median is 190,000, i think the distribution should skew toward the up side. when i look at adp, when i look at the claims data, when i look at jolt, those that's dated, it t

joining us is mike santoli and our guest host is portfolio manager at douglas c.ane and associates and a cnbc contributor. let's jump into the markets. let's look at the u.s. equity futures. the last day of october is here. anybody who has been long the markets is ready for this month to end the dow futures indicated up by 108 points s&p up by 15, and the nasdaq up by 56 if we were to close down today for the s&p 500 that would be the 17th down day for october. that would be a record that's nearly 50 years old. the most down days in a month since 1970 we'll see if that holds out. yesterday you did see the bulls make a comeback. s&p at this point, even with the gains yesterday, is looking at the biggest monthly drop since may of 2010. the nasdaq is looking at its biggest monthly drop since october of 2008. jim cramer said yesterday there were five signs that made him think this is a time to get back into the market. >>> overnight in asia, the bank of japan holding interest rates steady while slashing its inflation forecast the nikkei jumping 2%. stocks in hong kong

mike santoli is in today you'll see green once again.o you futures up by about 60 points after a rally that saw all of the major averages up do you up by 227 points. s&p up by 21 nasdaq up about a percent at 85 points a lot of people muling through and looking at some deescalation it still continued but let up a little bit trade looks like a sidelined issue or better. much much lower but rising that made people feel like they didn't have enough exposure. >> the dow is up around 2,000. russell 2000 is up >> first it is a catch up and then let's see how far we can stretch it overnight, with the headlines of the latest concessions, the s&p futures shot up. we are up six or so percent. >> if we wanted to, we couldn't make new lows or deals it is fairly far away. >> you are in this zone. you have a cushion below >> you see the 10-year 1.726 >> it is good. it is good it is good >> always a good side, bad side of things. >> in asia, we did see the president tweeting about postponing tariffs sang high composite ended up in europe, if you look at