nikola say the talks are continuing.wouldn't give me any more details other than to say the badger is at the center of the talks. when the deal was first announced in september, the biggest surprise was the deal went beyond this proposed pickup truck and it's all general motors provide the fuel-cell technology for the core of nikola's businesses which are hydrogen powered semi-trucks which it planned to build in its own factory in arizona. that is the core of how nikola plans to make money. we've moved on, it has gone beyond the idea of a pickup truck. nikola has always said without an automotive partner, it would not build a pickup truck anyway. if they fail to close this deal with g.m., it could further impact the credibility after two difficult months for the company because gm has this global manufacturing experience, global command of the supply chain and wall street saw it is a real plus towards nikola achieving its core aim which is hydrogen powered fuel trucks. the ceo toldaid, you last week he has a plan if the

i wonder if the dotcom rama surrounding nikola, if that will affect it. how much money gm put towards hydrogen fuel cells, i believe 2.5 billion, the fact they put so much money into this technology they need to find ways to test this. >> it's all about scale. it's all about scale >> how much longer is gm willing to withstand this -- what's happening with nikola? i guess everything comes back to that investment. >> and that's really what the focus of this is all about what can they do with the hydrogen technology? it still may work out for general motors a lot of people wanted to focus on the badger electric pickup truck. that's ridiculous. that's a small deal in the overall landscape. but it got a lot of attention from the former chairman and founder, trevor milton he was all about the badger electric pickup. that's not what this agreement is about it's a small part of it. >> all right we'll turn to a bust at the box office this weekend's number one movie brought in less than $4 million in north america this time last year, disney's a film brought in $10

nikola is up 4.6%. gm, down .75%. analysts say they expect a deal by december 3rd, keeping the overweight rating. gm has taken certainly a significant stake in nikola to say we will help you scale up. >>> competitor tesla lower after wedbush analyst dan ives said he expects tesla to top three quarter earnings when it reports after the bell wednesday. why is it down 1.5%? you know, ives has hiked the price target to $500 per share from $475, but we are at $433 right now, so perhaps it's selling and just taking off some of that unbelievable jump of more than 600% year over year. >>> also expected to report strong third quarter earnings, i-robot. needham expects the maker of roomba vacuums to report a shipment bounce thanks to the rescheduled prime day. lot of people wanted those roombas. amazon listed the roomba vacuum as one of the best-selling items. shares are up 3% on that news. >>> big tech loading the barrels for their latest quarterly reports, but could 2020's highest flying names be setting the stage for the nex

nikolas hasn't brought up our sleeping together, and i'm certainly not gonna do it. how can you not? well, 'cause it would make me vulnerable, don't you think? and if nikolas thinks that all we had was a one-night stand, i'm not gonna give him that kind of ammunition. ava, do you really think he would hold it against you? ♪ you look great, bud. this tie is choking me. do i really have to wear it? you do if you want josslyn's approval. she doesn't seem like the type who would go for the informal look on her date. she's not my date, okay? we're just going as friends. yeah, that might change by the end of the night. [ cellphone rings ] oh. why don't you go inside? i'm gonna see who this is. brando corbin. mr. corbin, this is cyrus renault. um, the men who attacked you in your garage have been arrested. an anonymous tip led the police to them. why are you telling me this? well, regrettably, those men targeted you because of me. their actions were a misguided attempt to...impress me. but i made sure that they will be appropriately punished. you -- you turned in your own t

issue which retrospect i shouldn't have bothered about it they're not paying nikola is anything nikola is paying them. it showed a lack of judgement in dealing with this company. although at $2.7 billion, they're getting which is a lot less now, sort of makes sense. but both will work bmw will work. daimler will work. i like the sector overall. >> auto plays into cramer's new list of seven sectors of opportunity, too we're focusing on chemicals today. ppg plays into the auto space rather heavily that's on his list e as one of his top chemicals picks. the other one is dow which is owned by jim and jenny. jenny, you go first and then jim. >> sure. so on dow, like the wall of stocks that you had up before this is as normal life returns, so will dow. dow makes the fuillings in pillows to the artificial running tracks they make everything and so as we just get back to normal, whatever normal is, they're going to tlif. to thrive. >> better day as head? is cramer right? >> yeah, not to sound defensive. i bought this in april and just a fantastic price to get this company if we're bullish on d

nikola has a good partnership with gm.to the rest of nikola given what's going on right now. and of course, workhorse. that's one we think is going to be able to do the long haul transit. it's also the vans, the small vans that are in fleets of like 20, 30 folks inside cities. those vehicles and government fleets will probably be one of the first markets to turn over electric and of course, everybody will follow through. charles: if they ever spun off those vans i would be first in line to buy the stock. i want to ask you about something else. you are a big tech guy but you were talking recently in a piece about the need for human beings to maintain relationships with tech. it was ironic because i read this morning where stores said they need to hire a lot of people, human beings, to service the 3.5 million new customers they got in the second quarter. how does this scenario look? is this one of these things that reinforces the notion maybe we can co-exist with technology taking so many jobs? >> yeah, there is going to be

they have the potential partnership with nikola.k, that partnership they're still negotiating, it is still on. nikola partnership. here is mark royce. >> there are a lot of different modes for drivers. some people haven't seen before, a actual diagonal crab mode, steering that we can do with the truck that have never been seen before, frankly. reporter: that is not what mark was talking about with nicolela. he was talking about the new truck. exciting truck there. news made. connell, go buy a truck. everybody is doing it. connell: close enough my friend, we'll take it. jeff flock, fair and balanced. we cover all the election stuff. thank you, jeff. to woody out there. helping to fight fires for over 100 years. we'll coming up talk to the president of this company where we're at, waterous. the company during the pandemic and other tough times. that is the next. >>> charles payne will lead a fox business all-stars for "america votes together" town hall. if you have anything from businesses opening up their doors to the real estate boo

and, remember, i told you i'm open-minded about fisker, and i did warn you away from nikola. menu, a few weeks ago tortoise acquisition corporate, not like the tortoise i had. remember cactus that i gave to the natural wildlife foundation because it's going to live to 120 and it's really big? this is tortoise corp. merged with a company called h-y-l-l-i-o-n for a hybrid for fully and electric trucks. i think we should call it the symbol, h-y-l-n, hyln. h-y-l-l-i-o-n, hyllion actually has -- it has a product. i'm not kidding. it actually has one. wonder of wonders. miracle of miracles. they're not selling many of them yet, although they've begun to be deployed in some large fleets of trucks. longer term, they're betting on a pound train system for power trucks where they replace the traditional diesel system with a bank of batteries that recharge with compressed natural gas. we know compressed natural gas can reduce carbon emissions by 25%. at some point in the future, they say they'll pursue drive trains that run on hydrogen fuel cells. we like that remember, that's green we

nikola is trading below where it came into the market after its spac wohl see what happens after theot only for fisker but for the other electric vehicle companies going to market that way. >> phil thanks for that. keith bliss what's your take on all of these names are they going to impact tesla which has the biggest impact on the broader indexes. >> that fends on tesla and how many boup dairies they can create inside of their business model. certainly leer the dominant market meter elon musk does lots of thing one of the crazy things he does is he is able to get a lot of capital. it takes a lot of capital to build out a factory and get one car into production. when you talk approximate china and the european union mandating evs across their fleets in the countries just in a short period of time there is going to be a lot of reasonable for a lot of ev companies they will have to compete on quality just like the internal come bust car companies do right now. fisker and tells la and nikola can make a vehicle and get it on the market there is a lot of market for it. we will see a lot of

you have ourselves, you have nikola and you have tesla.g haul trucks like the one behind me, it's really only the three of us delivering solutions for this market. we are the only ones that actually have technology deployed out on the road already. liz: i want to show the one behind you. if we can take the live shot of you right now and your tie matches the truck perfectly. got that acid green. i like it. tell me exactly how much it costs to retrofit one of these trucks, if that's already existing because i would think that's very cost-effective for a company that doesn't have the capital to buy 10, 15 or even one brand new truck. >> so we have two different products we are bringing to market. the first is our hybrid electric system which, when you are installing that on a new truck, really is only about a $15,000 adder on top of the cost of a base vehicle. then we also have our hyper-truck erx, a fully electric drive truck but as opposed to plugging into the grid to get recharged, we actually refuel the vehicle with renewable natural gas

so we continue to work the opportunity with nikola and that's where we are. >> as you watch this unfoldve done better due diligence regarding some of the claims that trevor milton was making that more than a few people have now looked at, including hindenburg research and said, these claims were not accurate didn't gm know this before they decided to get in bed with these guys >> look, the due diligence was not only done by general motors, it was done by the entire banking community and wall street community as the company went public. there's a ton of time spent on all fronts so that's all i can really say about it. >> mark, why isn't gm getting enough credit for its ev portfolio? when you talk to people in the auto industry, they're hesitant to make comments about other automakers but almost everybody says the same thing, gm has a portfolio they should be getting greater recognition for. how do you unlock that in terms of what those assets represent >> that's a great question you know, i continually and mary and the whole employee base of gm are so committed to this. we just have to s

there's so much focus on companies like nikola. how do you differentiate yourself?s all comes down to intellectual property and maintaining that as your goal. craig: that is a good question about intellectual property being at the heart of this business. a our view, the fuel cell is core technology and the mobility system, at the core of our business. we believe that we have the core technology to differentiate our vehicles even when we outsource the non-core components. we can differentiate with the core technology. thefocus has been on laying foundations of the core technology the parent companies journey of 17 years. we have built up a very strong portfolio in the core tech. this is that the heart of a successful business model around fuel cell commercial vehicles in the future. taylor: how are you thinking about the future of this business? if it is longer range, how do you get there? if it is inter-city, how do you get the cities to pay for this? craig: that is a good question about paying up. in the beginning, to get started, you might need early investors to

workhorse, nikola, kenworth, bmw. tell us what you're doing for those customers specifically. romeo power? >> so customers, our partners turn to romeo because again, we put the most safest, reliable and energy dense pack on the road. what we do is we design with the fleet managers in mind to ensure they have the most traffic per mile going forward. customers return to us because they want the hard stuff. they want to be able to carry their thousand pound loads hundreds of miles uninterrupted and we give them the best chance of doing so. liz: tell me what the range is on some of these batteries. g get really specific here because i would imagine there is some stress on these batteries if they have got heavy trucks and long haul efforts. >> well, liz, it depends on of course the size of the truck. we have solutions that can go more than 300 miles with heavy loads. i think it's important for the viewers to know that we test everything in-house at romeo power. we go through vibrations, submersion, we break everything internally to make sure when it goes on the road it will perform

david: as far as you know, the badger and nikola deal is going forward?re going forward and the exciting part is to take the best fuel-cell in the world with our fuel-cell that's made in our joint venture with honda here in michigan and taking that fuel-cell and taking that fuel-cell am looking at deploying it in the heavy duty transport market with the large trucks. and also in the light duty badger truck you mentioned. the general motors president speaking with david westin. tesla has been a rare bright spartan the pandemic with its market value skyrocketing more than 400%. it looks to report a profit for a fifth consecutive quarter after the bell. gordon johnson joins us now. thiscould possibly derail fifth consecutive quarterly profit? i don't think the earnings are as important as everybody is putting emphasis on. if you look at the street estimate for tesla, it's around $.35 in earnings-per-share, roughly $.20 of that will be one-time credits that go away next year. they don't need to buy these credits from tesla so tesla will do $.15 roughly of ear

a path of nikola sees ahead for his embattled electric truck company. startup is unable to come to terms with general motors on a proposed partnership. the ceo tells bloomberg that nicola can always revert to what it calls a -- of nikola can always revert to a base plan without g.m. fewer americans will go trick-or-treating this halloween because of the pandemic. the worst effect may be felt in africa, where the raw material for chocolate is grown. top cocoa producers in ivory coast and ghana may struggle to keep paying farmers a premium. chocolate makers in the u.s. are likely to buy less this year. halloween sales account for 10% of her she's -- hershey's business. francine: thank you so much. coming up, we speak with dr. andrew pekosz. we talked covid-19 and lockdowns. this is bloomberg. ♪ ♪ >> as far as the mask is concerned, i'm good with masks. i tell people wear masks. just the other day, they came out with a statement that 85% of the people that wear masks catch it. >> they did not say that. i know that study. pres. trump: that's what i heard an

antoine griezmann anotÓ al minuto ocho y luego nikola vlasic con el 1-1 al 65. league". iba a llegar en primera instancia una expulsiÓn de harry maguire al minuto 31. luego eriksen aprovecha para dar la campanada. se impuso dinamarca e inglaterra. portugal sin cristiano ronaldo dentro de la cancha, en lisboa se enfrentÓ a suecia. bernardo ante el paso de diogo jota. 3-0 portugal en lisboa frente a suecia. esta es la informaciÓn mÁs rele ♪ ramÓn: le recuerdo que hay dos lugares en oakland donde puede tomarse una prueba gratuita de coronavirus. tÓmele una foto rÁpido. uno de estos centros estÁ localizado en el estacionamiento de la clÍnica entre la avenida 35 y el este de la calle 12. otro en el aeropuerto internacional de oakland. para programar una cita, regÍstrese en la pÁgina web en pantalla. esta noche, la ciudad de san josÉ anuncia el lanzamiento de un programa de alimentos para personas afectadas por el coronavirus. ¿deberÁn las personas en libertad condicional recuperar el derecho al voto en california? eso es lo que indica la propuesta 17 en la boleta ele

a warrant related deluge is what crushed nikola back in july.sington capital's trading at $13 and change. i think the quantum scape story is very compelling if their batteries work as advertised, they can sell them to the entire industry pretty much everyone involved has impeccable qualifications and credentials. they've been working with wagon for eight years at this point. the only problem is it's super early. what the heck are these guys going to talk about on conference calls for the next four years i don't know it tells me there is no rush to buy. however, these things can be very volatile in the months before the deal closed if you want to speculate in this $13 and change dollar stock, let it come closer to, i don't know, 12 t $12.10 before you pull the trigger. given it's years before they have a project, you can afford to be patient. chitanya in indiana. >> caller: hey, jim. with the intention that we are moving toward green energy. >> right. >> caller: and promising this new acquisition, i bought around 1,000 stocks now it went down by

the past week it's fairly positive >> i think this is -- if we've learned anything from tesla and nikolatotype, that's the easy part producing this -- the production, especially mass production, that's the hard part we don't know anything about how many reservations they've had, how they're going to get this production in place, so i think that that's where the hard part comes. yes, of course, gm is signaling it wants to be in this market but we've seen that time and time again in the past without a ton of success tesla is still on top. >> fair enough i think it looks kind of cool. if i had a reason to -- i don't know it is expensive but looks pretty cool the technology -- they are having a monster day today, the maker of invisalign, the stock is up 30% and on pace for the best since 2006. they saw an uptick from new social media influencers like charlie dimilo, she posts ads like this one where she documents her trip to the den test how is this the content that influencers are putting out and it's working julia, explain this to me. >> it's she and her sister, they are very famous on tik

we got word that general motors is going to move ahead with talks for that investment in nikola. it will be interesting to see how those talks go and more importantly, what comes out of the talks, an actual product, something that can maybe compete with tesla, which for a while had a good portion of the ev market to itself. joe: let's bring in leigh drogen. we always talk to you about these red-hot growth companies. i am curious how you think about a company like tesla in the context of the current environment. because a $400 billion car company, it is growing, but revenue is up what, 40% year-over-year? it is not like one of these companies growing 100%, it does not have software margins. is it like with some of these other growth companies, or is it in its own category of things in the market? leigh: first of all, i feel like such a basic millennial today because i bought back into bitcoin last week for the first time since december of 2017, and i bought a tesla in july. so, whatever. funnywith tesla, the thing is that it is actually about to hit that growth curve. it is not ri

nikola has been accused of deception in talking up its technology.e prices plunged 40% since going public in june. haslinda: in the markets, asia posting modest gains as we kick off the fourth quarter. several markets are on holiday today and for the rest of several days. optimism after steve mnuchin talked about compromising. a stimulus deal could be in the neighborhood of $1.6 trillion. trade suspended in japan because of a network issue. dollar, currently down about .1%. it posted its biggest quarterly drop since 2017. gold flat at $18.96. asx 200 leading gains. ,ustralian miners in focus after credits were upgraded. 50.63 ahead of the policy decision. set to leave rates unchanged at 2.25. dollar-yen, 105.50. volatility among g10 currencies on the stimulus. plenty more to come. this is bloomberg. ♪ it is 10:29 a.m. in hong kong and singapore. 10:29 in washington dc. the u.s. has avoided a shutdown of the federal government after the senate voted 84-10 to pass the stopgap spending bill. the bill now goes to president trump who is expected to sign b

gm did take an 11% stake in nikola. they would provide hydrogen cell technology to their partner and manufacture a new battery pack pickup called the badger. haslinda: another day of stimulus talks in the white house. leading democrats pushed them closer to -- did not push them closer to any agreement. kathleen hays is here. we hear nancy pelosi tell bloomberg today? kathleen: she is focused on getting the package passed, though she sees a wide gulf between the sides, one she thinks is the republican's place to move closer to the democrats. the democrats did vote on their 2 trillion $2. stimulus package today. all thed unanimously, democrats in the house voted for it, none of the republicans. when it gets to the senate, it will be the reverse. all republicans will vote against it, democrats will vote for it, and lose. speaker pelosi said this morning before the vote, no matter what happens, they are not going to slam the door on stimulus talks. >> we are still alive, still talking. i am hopeful we will reach an agreemen

what do you say to those who wonder if you are another nikola >> we have already built prototypes thatwn. we have done amazing deal with magma which will take 6% stake we have a complete different business model here it takes two or three years to make a car this is reality and you can't make it any quicker than that. you can't go through any engineering and tooling. we have gone out and raised $1 billion. we are not like the other start up companies that go to these rounds before we can get a vehicle into production. yes, i launched back in 2011 about waund a half year before the model s came out from tesla. those were the early days from battery systems. today, we are looking at a new type of world where you've got giant battery companies, which by the way they are using. we are using pan sonic and all the sales are pretty similar all the fight will be about affordability creating a great product and customer experience. the key here is a different customer experience. we have a flexible lease i think we'll set a whole new trend here with our company. >> it mean oil that cumbustion f

nikola jokic takes it all apart later in the -- >> laura: newt gingrich takes it apart later in the hour. amy coney barrett for day two of her hearings and since the democrats cannot match her intellect they decided to launch this series of desperate attacks and smear attempts. senator mazie hirono led with the absurd kavanaugh-esque line of questioning. >> since you became a legal adult, have you ever made unwanted requests for sexual favors or committed any verbal or physical harassment or assault of a sexual nature? >> laura: did someone mix up her notes from the kavanaugh hearing? what was that? senator klobuchar engaged in legal arguments with barrett but that too backfired. >> is roe a super precedent? >> how do you defend super precedent? >> i might have thought someday i would sitting in that chair. i'm not. >> people use super precedent differently, and answering a lot of questions about roe which indicates roe does not fall in that category. >> laura: that's the problem when someone else writes your questions for you. "i don't know. what do you think?" senator feinstein employe

general motors may revise its deal with nikola.aluation plunged after allegations of deception. the company shares are down by more than half since the deal was announced. that is the latest bloomberg business flash. francine: this is the data check we will be looking at all day. there is a reversal up to the depths of the losses we saw in markets. futures are turning lower. the focus is on trump, the fact that he tested positive for coronavirus and some traders are trying to assess what it means for the election. , am looking at treasuries rising crude oil extending losses. trump is 74, overweight, and male. these factors put him in the high risk category of covid-19 patients. the market has a lot of questions, little answers and it is jobs day in the u.s. we will bring you some of the other various things we are looking at, including pound because of brexit negotiations. the other thing i am looking at, if you look at what this means for the election, we are expecting to have an update on what the biden camp is doing, given they

you have to go with the jockey i take a look at a company like nikola that should be trading probably close to zero the stock trades up yesterday and headlines that gm will take a bigger stake of course, they are taking a bigger stake >> you lost me at the mets in 1 1969 you said davey it's gill. don't disrespect my guy. >> my goodness 1969, davey johnson. >> okay. '73. wasn't it? >> just stop just stop. >> let's go back to spacs. chamath is right some good, some aren't stocks trade up 10%. they were given two billion of stock with the companies price at 36. of course they are going to be given more stock with the stock trading, the stock price half of that stay away from the junk. stay away from the hype. wait until they buy a company so you can assess the fundamentals rather than these blind pools. blind pools are really dangerous for anybody to invest in >> dr. j >> i think weiss is mistaken point about davey johnson aside, it is about the person running that show and whether or not they put the right team on the field. if you're looking at brad or akman or any of these folk, those

nikola is sticking with its strategy even though the founder and i think he was the chair, actually?utive chairman, trevor milton. stuart: what is the strategiesome. >> to bring cell-fueled trucks and cars to the market. again, clean energy. the company's still in negotiations with general motors over this $2 billion, 11% stake that general motors bought into nikola just a few weeks agoing, and then all these accusations came out which brought down the stock, and trevor milton had to end step away from the company with sexual assault allegations also in the last few weeks from two women. nikola says it remains committed, first of all, to getting through this gm deal because it was set to close on wednesday. even though gm said they did their due diligence in looking at the company, which i found surprising, but they remain committed to bringing the pickup truck, their mass market pickup truck, the badger. stuart: i hear that word high yo den fuel, that is a big turn-on very long term because there's no pollution. but you're miles away from it. this is another one. what is this, your

. >>> after the break shares of gm lagged behind the ev stocks like tesla and nikola this year could new eceltric hummer be the key to gm's future we will discuss that next. ♪ ♪ ♪ >>> welcome back 35 minutes left of trade shares of general motors have sharply underperformed ev rivals this year like tesla and nikola. but the company is announcing new steps to boost its electric vehicle offerings. phil lebeau has the details. >>> big day for gm and its ev portfolio. later tonight we will get our first look at the hummer electric pickup truck. ahead of that general motors announced a big investment when it comes the manufacturing of electric vehicles. they are gag to be ra-- going t be ramping up over the next few years including retooling part the tennessee plant to build the cadillac lyric doesn't there this factory is in the detroit area they have been converting it to build electric vehicles. do you know what's going to be built there? the hummer ev, electric pickup truck. this is the teaser image a drone following a vehicle in the forest we will get a shot of it tonight. and we wil

have a product in market, you need to put extra scrutiny on them maybe you don't want to put 50% on nikolaat's insane that's like jumping in front of a bullet train do not do stuff like that, right? you have to have a little common sense here be careful, people >> we always -- >> prod exists >> viewers love knowing what you're thinking. pt good to see you thanks >> stay safe, everybody. vote, meez >> as we head to break, draftkings and pen national gaming both near the lows of the session. following news that the jets were sent home after a presumptive positive covid-19 test on the team don't know if that's going to effect how they would perform. draftkings down 3% today on pace for the worst week since march. "squawk alley" will be back in ay t mut st with us when i was in high school, this was the theater i came to quite often. the support we've had over the last few months has been amazing. it's not just a work environment. everyone here is family. if you are ready to open your heart and your home, check us out. we thought for sure that we were done. and this town said: not today. ♪ but

sessions but some comments from gm's president after having spoken to phil lebeau saying the deal with nikolahope to be finalized. the dow up 142, down 147, but we're somewhere in between there but we're in the red now let's go to the judge and "the half". >>> welcome to "the halftime report." why one market watcher says a 10% correction is the most likely outcome for stocks. we will debate that with our investment committee joining me, joe, steve, carrie, the ceo of arius and rich sapper stone from cio, one of baron's top 100 financial advisers we watch the market. we find ourselves negative we're keeping our eyes on the hill and what ma

>> it is mouth trump monday ♪ ♪ tomorrow on the show nikola, jimmy and rudy giuliani and a microphoneod night. liz: the dow falling sharply as hopes for covid-1 covid-19 relif falling out between the trump administration and the democrats led by nancy pelosi the number of cases is climbing, president trump barnstorming into the home stretch into the final eight days before election, he is hitting the swing states, three back-to-back rallies in pennsylvania the president is speaking right now, then he heads onto michigan, wisconsin, nebraska, joe biden is going to broward county florida later this week as joe biden is trying to shut down the presidents test a victory which looks like the same path in 2016, this is more than 61 million have already voted experts say that the turnout that could be the highest since 1908, tonight we have for you congressman doug collins, congressman kelly armstrong, jim trusty, and tehran skinner on the big headlines of the day, the big x factor, the shy trump voter who is not being captured by the polls, pollsters are missing this, we are seeing word-of-

from gm's president after having spoken to phil lebeau saying the deal with nikola and badger pickup and they hope to be finalized. the dow up 142, down 147, but we're somewhere in between there but we're in the red now let's go to the judge and "the half". >>> welcome to "the halftime report." why one market watcher says a 10% correction is the most likely outcome for stocks. we will debate that with our investment committee joining me, joe, steve, carrie, the ceo of arius and rich sapper stone from cio, one of baron's top 100 financial advisers we watch the market. we find ourselves negative we're keeping our eyes on the hill and what may lie ahead in terms of stimulus. let's bring in our guests today, arguing that stocks might not be so close to new highs for very long mike wilson, morgan stanley, back with us good to see you. >> glad to be back. >> 10% correction is the most likely outcome why is that? >> it's a continuation from the call we made in september where we got a 10% correction. we walrallied back all this comes back to our framework. we look at the valuation it's pret

this is about the rivalry between a cool renegade scientist, nikola tesla, and his arch-nemesis, thomasthe greatest scientific feud of all time. i mean, you can forget about leibniz and newton. done. so, tesla's the one that invented the electric car? (laughter) sheldon: no, penny. no, the car is just named after him. okay, you don't have to be so smug about it. you know, you went to see that movie it because you thought it was about scary i.t. guys. tesla was a genius who invented our electrical grid. edison just wanted to get rich and famous. didn't he invent the lightbulb? that's what he wants you to think. but without the foundational work of ebenezer kinnersley, warren de la rue and james bowman lindsay, you wouldn't know edison any more than you know ebenezer kinnersley, warren de la rue or james bowman lindsay. isn't he sexy all fired up? he really gets my current alternating, if you know what i mean. edison was kind of a publicity hog and a bully. yeah, he electrocuted an elephant named topsy just to make himself famous. if i had an elephant named topsy, he would want for nothin

you seeing right now, whether it's for people waiting on your wait list or they're buying hyliion, nikolahich just went public via spac. what changes are you seeing in the stiepsyche of auto buyers? >> we are seeing during covid, first of all, we have seen the digital economy accelerate. we are fully digital. secondly, i think people are really, really aware about the environment and i think that people who think about buying electric cars, there is going to be generally more awareness about electric cars and once you understand how an electric car works, you are realizing it's cheaper to maintain, easier to drive, faster, you charge it at home, it's got so many advantages and i expect the inflection point really being around 2023, when we start seeing huge growth in electric vehicles and it's not only from the u.s. it's also from europe, which is implementing a lot of new regulations to promote electric cars and the same is happening in china. you know, the industry is global. it's a multi-trillion dollar industry and the industry at one point cannot any more afford to both make gasoline

>> it is mouth trump monday ♪ ♪ tomorrow on the show nikola, jimmy and rudy giuliani and a microphone dow falling sharply as hopes for covid-1 covid-19 relif falling out between the trump administration and the democrats led by nancy pelosi the number of cases is climbing, president trump barnstorming into the home stretch into the final eight days before election, he is hitting the swing states, three back-to-back rallies in pennsylvania the president is speaking right now, then he heads onto michigan, wisconsin, nebraska, joe biden is going to broward county florida later this week as joe biden is trying to shu

another spac shares of nikola are up again, shares soared 14% after the embattled electric truck sortmed its business plans and production targets executive chairman milton's resignation amid two women's sexual assault allegations against him. it would extend talks on a $2 billion deal with nikola, which would give the detroit automaker an 11% stake in the company. >>> let's take a look at futures. in the green across the board. triple digits on the nasdaq and dow, s&p 500 trending to open about 30 points higher "squawk" returns after this. ♪ when disaster strikes to one, we all get together and support each other. that's the nature of humanity. ♪ it has encouraged other people to take the time for each other. ♪ ♪ >>> make sure to tune in to cnbc's new show "nuts with shephard smith" every weeknight at 7:00 p.m. eastern andrew >> thank you, joe. >>> number of companies cutting their workforces due to the pan dem. goldman sachs is moving forward with job cuts that will total 400, 1% of its workforce marathon petroleum is cutting 12% of its workforce or 250,000 jobs, with the global sup

. >>> as we head to break, we keep an eye on shares of nikola still expected to strike a deal with generalber 3. we are back in two they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale. - we did it!c) (crowd cheering) - [narrator] wherever you start, snhu is where you can finish. (crowd clapping) (crowd cheering) - here we go. - [narrator] and it's it. - [group] yay! - [narrator] you did it, high five! - southern new hampshire university. - [man] that gets a hug. (laughing) - look at that! master's degree, i did it! - i did this for my children. i am very proud of myself. - [narrator] finish your degree at snhu.edu. >>> american airlines bringing back the 737 max the phil has more >> this goes as expected the max is recertified, ungrounded by the faa sometime over the next month and a half and that the pla

. >> remember nikola it's the new one >> i do remember it very well.ed last week, didn't it, jim? >> look, every dog has its day no, it's a brilliant company people have asked me to talk about endlessly. so, now, there your love. >> there you go. he did all right. carl, over to you. >> all right, guys watching yields closely here as we're expecting some more ism data at the top of the hour. let's get to rick santelli hey, rick. >> hi, carl. i'll breakaway when we get the pmis look at the two day of tens. two week everybody is talking about how they popped today. they really have been aiming higher in yield lower in price for a couple of weeks. but we're really starting to hit it hard to the upside over the last several sessionps if we open the chart up, you can see that at the end of august we had a high that was at 75 basis points that's very key. we want to pay attention to that, of course. but really many traders are going to focus on the true break out being if we contest 90 basis points which goes back to may. now, the market numbers are out. our

i'm talking to the buying who are so busy buying spacs very haven't even mentioned nikola. >> we haven'tuple of days. >> we have another one that laid off people, carl, that's doing well is disney we're back into the 1990s. >> i'm this i go about disney right now, jim, from a football standpoint because the nfl now has a statement that steelers/titans will be rescheduled for later in the season instead of monday, tuesday, after one additional player and one personnel member tested positive for covid-19 today. so that was a business discouraging earlier in the week, jim, although there's no indication that the season itself is beginning to fall apart. >> let me give you something really discouraging. bio reference labs tested all the players sunday and all these people involved. okay it came up with the people who had it, the original then they tested them today, they ran it three times. then they tested again and an additional person was found and then they tested again and another additional person. now, what is to say a lot of us would like to think that you all catch it at the same ti

nikola wealth management president.e on the show, the market was leaning towards a trump's win, do you still say that? >> i don't say this out of bias, i say this out of 100 years of historical precedent, president trump winning in november is the hope of the market, what a winding by that a barrage of bad news, no deal on stimulus, kobe case is increasing in europe in home and you brought up eloquently with the president yesterday, jobless claims since august, all the bad news, the market is continued to ignore it and had higher, i tell you the market is not cheering on higher income taxes, higher corporate taxes, capital gain and more regulation or blue sweep, they are sharing on a continuation of the current tax and regulatory environment that you get with president trump, i think the market is ignoring the bad news and looking forward to trump winning in november. stuart: i take issue with that, i think the market is cheering on a lot more government spending and a lot more fed printing, i think the market believes