am carl quintanilla with morgan brennan, mike santoli at post 9 of the new york stock exchange jon fortt assignment again this morning the president's comments to the journal on trade and potential new tariff on iphones dragging down apple stock >> reporter: the president was making two distinct threats in that interview with "the wall street journal." first, he said it is highly unlikely he would hold off raising tariffs on the $200 billion on chinese imports the tariffs are set to go from 10% through 25% on january 1st second, he said if he and president xi can't come to a deal during a dinner at the g 20, he is willing to push ahead with another tariff on products imported from china, and the rate would be between 10 and 25%. those remaining products do include the iphone as well as laptops, but it is important to read the full transcript with the president. it is actually "the wall street journal reporter that brings out the prospect of iphones being targeted, and president trump responds saying maybe they would be included, it depends on what the rate is. a 10% rate, people could st

i am carl quintanilla with morgan brennan, jon fortt at post 9 of new york stock exchange also with us co-founder kara swisher we'll check in with her in a moment tech is being led lower by the likes of apple, facebook and others dow is currently down 182, along with other famously big momentum names, a and d, align -- >> throw in adobe. that's above 100 billion in market cap sales force not sure if you mentioned. at first glance, looks like a lot of names down most are smaller names like square and zen desk and drop box but when you note cloud names that are down, big cloud names like sales force, adobe, makes you think something else is going on. >> and gaming stocks are being crushed. fresh new 52 week lows today worth noting, nasdaq 100, big cap tech names leading that average down, now down 5% in the past one month it has been the worst performer of the major indexes. >> the social network is under pressure the journal reports that mark zuckerberg adopted a more aggressive management style in light of the company's recent troubles reportedly told top company lieutenants earlier th

i am carl quintanilla with morgan brennan and jon fortt stocks are well off lows of the session, butbviously in the midst of a big selloff across the board, major indexes down 1%. s&p and dow erasing gains for the year nasdaq in correction territory, hitting the lowest level in seven months, back under 7,000 every dow stock in the red, despite some individual tech names trading higher like facebook and nvidia. mike santoli is back at post 9 how is the picture filling in for you? >> seemed like there was itchiness to buy the opening down print, with some of the hardest-hit tech stocks. not the worst to see that. everyone gets caught up in what are proper tactics to see a low forming. but the market has been quiet in its oppressive selling it hasn't been this panicky flush. if we need something like that, it hasn't happened yet i don't know that you need it. it has been going on two months. you had a lot of untouchable stocks that have been humbled. i think this process is under way. whatever started two months ago is happening in terms of the correction process now it is taking on a f

jon fortt, back to you. >> thank you, rick santelli. noon a look at shares of ge rebounding today. >> they're up about 7% baker hughes, ge up about 3% after news they'll sell out sooner than expected >> nvidia also bouncing. but for now to scott wapner and "the half. >>> jon, thanks. i'm scott wapner welcome to "the halftime report." we are live from the annual global financial leadership conference down here in naples, florida. we're going to begin with a special interview, an exclusive, especially timely, given what's been going on in the markets lately and in particular how apple has been trading the world's most valuable publicly traded company under a lot of pressure, as you know, lately we're pleased to welcome in one of the company's founders, steve wozniak, is with us today, as i

i am carl quintanilla with morgan brennan and jon fortt nasdaq is negative first time in three days afteray's rally. higher for the week. faang stocks are mixed, investors look to see what the split in congress means to big tech good morning sounds like you think the economy is neither too hot or cold earnings guidance is not as bad as some feared, and now elections are out of the way, right? >> exactly we have one uncertainty removed. tomorrow we wake up to another list of headline risks we're watching, but so far so good we are watching for fundamentals, they're coming in strong tech is leading the market you have a breadth of leadership, you have over 55% of stocks that are comprising tech outperforming the broader market 60 industries are leading. nasdaq is up 10% year to date. so far so good >> so at this point you would not be looking to fade, looking at your top holdings, amazon, a alphabet, visa, coke and disney which we get tonight >> yes i think what's important is somewhere along the way we sort of have been precandidaonditionu can get exposure to overall tech stocks, the marke

>>> welcome to "squawk alley" with contessa brewer in for morgan brennan with the day off, and jon forttwell at the new york stock exchange. dow is up. we begin with apple. shares are down following friday's 5% loss after the report from japan's newspaper suggesting demand for iphone xr may be disappointed. the report says apple told suppliers to stop preparing for the original boost in production shares are down 3% for more on the recent slump, bring in tim arcury and tim shay if we close below 200, tim, first 10% drop in five years why is it happening now? >> look, there's disappointment with how guidance shaped up, and i think the main point is the way they disclose. there's a reason because the units may be in decline. you're not paying a lot for growth they put up 21% growth we think that the opportunity where apple will begin to disclose services margin for the first time, this looks important and apple clearly intends to tell a compelling services margin story i think the debate shifts there, that's the big story the next five years. >> does it matter if iphone units are in declin

jon fortt will join us with his interview with andy jassy. we have a huge show still ahead.20 points don't go away. i am a family man. i am a techie dad. i believe the best technology should feel effortless. like magic. at comcast, it's my job to develop, apps and tools that simplify your experience. my name is mike, i'm in product development at comcast. we're working to make things simple, easy and awesome. >>> u.s. leadership in technology is under threat from, who else china. that's the latest warning from the council on competitiveness as president trump prepares to meet with president xi at g20. with us now in a cnbc exclusive interview is the chairman and ceo of deere and company, samuel allen, also the chairman of the council on competitiveness sorry i couldn't be there, sam great to have you from this conference. >> thank you good to be with you again. >> do the president's policies around trade against china make us more competitive? >> i would say no, not in my opinion. i think the issue he raises is clearly the valid issue, that china has -- through intellectual

john fortt at the new york stock exchange before we begin with the semi trade we want to point out that jeff sessions the former attorney general just walked out of the justice department we do have video of him walking out the justice department this is happening i believe moments ago. but again this -- not yet. we will get to that in just a moment >> it's exciting. >> his walk could really tell you lots of things that. >> good ridens. >> semis were just a small smart of the huge rally getting back to the semi trade on the qualcomm quarter the nasdaq jumping 3%. even da dan's maga stocks looking great again. microsoft, asmusen ob google apple. do you stick with the maga trade? i mean, the father of the maga trade. >> as the father of the maga trade we actually had hats made. we wanted to be in with this we have hats for all of you guys chris with cnbc hooked this up. >> thank you. >> i'm not messing up my hair right now but i will put ton later. >> here is the thing about the maga trade i don't think this is trump's market anymore it's this market, in maga. at the end of the day, look

. >>> let's send it to jon fortt with a look at what's coming up next on "squawk alley.morning, sara. continuing the conversation, midterms are upon us tomorrow what are the implications for tech. we take a look up next on "squawk alley. >>> stocks in a tight range, which is why we have attention to the downward reversal on crude. let's get to jackie deangeles for a sector check. >> stocks are hovering near the best levels of the day investors await results of midterm elections later tonight. one of the relative underperforming sectors is financials among names leading that group to the down side, including big names like citigroup, wells fargo, jpmorgan, bank of america, one of the etfs down 16% from recent highs in mid march. now i'll send it back to you >> thank you, jackie. >>> we continue midterm election coverage taking a closer look at a critical race in connecticut that could mean big bucks for the hedge fund industry. leslie picker is live in greenwich connecticut. >> reporter: residents have been voting in the town hall behind me for the last five hours in focu

"squawk alley" is live ♪ >>> good morning i am carl quintanilla with morgan brennan, jon fortt back at stock exchange amazon is up almost 4% this morning, nasdaq is higher for the year, once again trying to recover from losses the last couple of months that saw the index drop more than 10% bru in anthony declemente and phil smeed good to see you both anthony, we obviously talked t

i am carl quintanilla with morgan brennan jon fortt has the morning off.a moment, we talk with jcpenney ceo and apple former head of retail ron johnson as retail is a huge story today along with oil which is down more than 3.5 bucks. >> the nasdaq is on pace for the worst week since march firmly in correction territory the s&p in correction. and the dow two hours from capping a three day losing streak, all of this as oil which carl mentioned hits the lowest level since 2017 bring in washington crossing adviser senior portfolio manager devin karen. happy black friday david, you have the dow on pace for the worst performance since 2010 what should we make of that? >> i think we have a rough week, all things considered, starting monday felt pretty good i think last week, week before with powell speaking, giving the bottom market cushion, and then we had them in '97, bigger in '99 they happen during bull markets. we had two of them this year, a little more than usual maybe that is as we come closer to the end of things than the beginning but i don't think we'r

i am carl quintanilla with morgan brennan and jon fortt dow is down almost 350 points, nasdaq a full percent as we get news on apple and goldman, sachs. faang is moving lower, apple below $200 a share and testing the 200th day since may. >> something to talk about more this hour. let's continue with the markets. alex dryden, and jeff klein, top strategist at charles schwab thanks for joining us. alex, i'll start with you. beginning of the year, you called for 3.25% on the ten year yield. have gotten close to it past couple of weeks. >> i think what we are seeing is that impact of high yields knocking onto the equity market. for the course of this economic cycle it has been dominated and supported by there is no alternative trade. everybody piling into equities because you couldn't find anything in bonds. now that the u.s. ten year is up, you're seeing investors going the first time hang on, i am getting a good return in bonds. >> jeff, a lot of thing for investors to watch you have trade tensions, peak earnings concerns, crude oil, bear market, political turmoil potentially in the u.

"squawk alley" is live >>> good morning i am jon fortt with david faber and morgan brennan carl has the morning off we begin at the g20 summit robert lighthizer expects the meeting with china's xi to be a success this weekend eamon javers is there live now, joins us with the latest eamon? >> reporter: good morning, john. the question with that statement from lighthizer, what's the definition of success? that's what everybody here and around the world wants to know if the u.s. china trade kiss putin is at center -- dispute is at center stage. it kicked into high gear, all the leaders are in one place twunat one time this is putin greeting the crown prince of saudi arabia look at this greeting. is this a bro hand slap, a low five instead of a high five, but it is a friendly, warm greeting between the two leaders if you can see it play out. clearly they're happy to see one another, even though there are others in the room with them not necessarily happy to see them or to appear in pictures next to them there's a lot of diplomatic dancing going on here, but we're waiting now to see more dip

i am carl quintanilla with morgan brennan and jon fortt all faang names in the red, including apple which after the bell tonight top white house economic adviser larry kudlow says that sector was overdue for a correction >> i think a lot of big, big tech stocks, the faang stocks got topepy it is just one man's opinion, not the white house view i think corrections are probably overdue. we had a bigger one last winter. i don't think trade enters into it >> joining us at post 9, vc capitalist allen patrickof welcome back >> nice to be here. >> despite the selloff, has anything really changed? >> it's the same, every time i come back, seems like we talk about the faang, are they going up, down, what's going to happen to the report for earnings exciting moves are the google walkout if it happens. >> yes what's your sense, for example, there's a note out of b of a, they're seeing deceleration on app store down loads, pointing a lot to china how much should this be taken seriously ahead of the apple print tonight. >> they're analyzing everything about every app so they can compare, my guess is a

carl quintanilla with morgan brennan, jon fortt at post 9 of new york stock exchange.etting some breaking eia data >> carl, taking a look at this now. we have a build in crude oil inventory of 10.3 million barrels. i want to look at the production number 11.7 million barrels a day that's up from last week remember, one of the reasons we saw crude oil drop so drastically is that u.s. production number continues to climb. and again, it is climbing here crude oil trading 56.57. a little rebound yesterday massive losses in the trade. seen more than 20% in the last month alone. two days of slight gains, maybe not necessarily enough to convince the market. as long as we're holding over 55, traders say for the time being, you're safe in this trade. back to you guys >> thank you so much >>> we begin with apple. shares falling into bear territory in wednesday's session, down 20% from early october high, although getting some back today, up almost a%. goldman, sachs analyst is with us, lowered iphone sales estimates earlier in the week. always good to check in with you. good mor

good friday morning, welcome to "squawk alley," i am carl quintanilla with morgan brennan and jon fortt the morning off. the rally hasn't lasted until now. the dow shooting for four straight days after a rough month of october bob pisani is watching the action, joins us at post 9 this morning. what are you watching? >> here is what's important. look at this point of view what would help the markets into the end of the year? what factors would move things forward? there are three things that matter three things we have been hitting on the last month. number one, some indication the fed is not on an aggressive rate hike path as some traders fear, not one in december and three or four next year, something less than that. it is hard, 3.1% wage growth, they're in a bind. they have to go ahead with this. the fed is boxed in. there's one avenue for help for the stock market if you're a bull, what is left two other things number one, get some better global growth. but we're not getting that you've seen the data all week from europe, pmi numbers from china. we're not getting help from europe and

i'm carl quintanilla with morgan brennan and jon fortt.nthal going so far as to say that big tech with no longer be trusted as the social network tried to ignore and tried to conceal russia in 2016. new 52-week low down 37% from a high in july joining us for his take on what he plans to do in the senate is the vice chair of the senate intelligence committee mark warner, democrat from virginia senator, good to have you back good morning >> thanks for having me on this morning. we touched base with you when some of these executives went to the hill a and now we've got the times and a lot of viewers might be wondering, whether or not the information the times uncovered could have direct impact on the trajectory of legislation. what do you say? >> well, i have to tell you, i was disappointed with the management of facebook who were slow to ak untcknowledge the run intervention and when they appeared before our committee we got it we understand how important this is and we want to work with you yet at the time they were making the promises in p

on wall street "squawk alley" is live ♪ ♪ >>> good tuesday morning i am carl quintanilla with jon forttntessa brewer back with us at post 9 this election day full team coverage on midterm elections and how to best position your portfolio. bob pisani has the market covered. julia boorstin has more on facebook's election day test on manipulation, and scott cohn has a look at gubernatorial races across the country today we begin with bob pisani from the floor with today's action. >> hello there am i the only one that has a problem with the consensus on the election and markets overall? consensus is the house will be taken by the democrats and the senate stays with the republicans. gridlock is traditionally good for stocks, and that's true, but not clear it will be that way this time around a lot of benefits have come because we are not in gridlock environment. that's how tax cuts got through and it helped earnings there's little chance that trump tax cuts will be rolled back with a republican senate, but also a chance they'll be made permanent with a democratic house. that could be a probl

i am carl quintanilla with morgan brennan and jon fortt at the new york stock exchange post 9.nty of movers to get to yelp getting slammed after earnings, dropbox is surging after strong results alibaba is taking a dip lower this morning today's session so far is the worst day for stocks in the early month of november. let's bring in jeff richards, managing partner at ggb capital, mark mahaney mark, i am going to ask you the first question we're starting to get used to massive cults in market cap when it comes to yelp an activision >> you may have lost me with the question what we had here is yelp, the surprise out of yelp and the reason they lost a third of market cap in a couple of hours is that they added no new advertisers in the quarter this is the first time i've seen this with the company since they started to disclose this metric. we have a change in the type of contracts they're selling to advertisers. it is one of the reasons we were bullish on the stock, did intraquarter survey work that looked constructive so we were surprised by results and so was the market if you

♪ >>> good morning i am carl quintanilla with morgan brennan, jon fortt back at post 9 of the new yorktock exchange amazon is up almost 4% this morning, nasdaq is higher for the year, once again trying to recover from losses the last couple of months that saw the index drop more than 10% bru in anthony declemente and phil smeed good to see you both anthony, we obviously talked to death what happened to some faang names over a couple of months are they at attractive levels for you, and if so, which ones >> absolutely. what we've seen in october and november has been a big unwind in hedge fund positioning in these names. hedge funds had to take down long exposure, levered long exposure that's a technical factor that's impacting the stocks as a result, you've got companies that as a tech nvestor you own many year that are on sale for us, if this is going to risk on environment heading to 2019, amazon would be one we go back to jon was talking about early tea leaves on thanksgiving and black friday you know, results have been substantially above expectations that's a good sign we think fou

tom fortt saying the fact that they ramp the buyback suggests they believe the stock is undervalued and underachieved with recent strepgt. we had rk saying they continue to improve the enhants mts and push for repeat pieing and by pushing the buying experience and seems to be seeing good signs of that. etsy up 13% after the bell zillow, the real estate database company plummetth after the bell missing on revenue and hurt by reshuffling of top executives. to match group, solid beat on eps and revenue announcing growth with tinder app and a $2 special dividend still shares falling more than 5% in after hours trading. we finish one twilio, up 11% in after hours trading after the cloud communication company released earnings, the company tripling estimates and eps and strong beat on revenues. >> thanks, frank now before reporting earnings web 2.0 stocks surged. twilio dominating surging over 200% do you keep betting on the web 2.0 play sns guy i know you are a big etsy fan given your guy adami sock puppet ordered on etsy. >> what do you use it for. >> the fact that they buy back the stock.

. >> thank you >>> let's send it to jon fortt for what's coming up in the next hour on "squawk alley.morning, jon. >> good morning. apple is down after a strong singles day. should you pay attention to price action or longer term strategic vision find out coming up on "squawk alley. ♪ ♪ ♪ ♪ ♪ the difference between possible and impossible? it's a person who believes they can, surrounded and supported by others - by us - who believe it, too u.s. bank - the power of possible. welcome to emirates mr. jones. just sit back, relax and let us entertain you... ...with over 3,500 channels of entertainment, including the latest movies and box sets from around the world. ( ♪ ) we even have live sports and news channels. ( ♪ ) and your free wi-fi will start shortly. enjoy your flight mr. jones. world's best inflight entertainment. fly emirates. fly better. >>> welcome back to sidewalk sidewalk stocks are near lows of the day, steep declines in technology among the outperforming sectors, utilities are moving higher by around six-tenths of 1%. powered by energy and dominion sector hold outs, three

. >> rick, thank you let's send it over to jon fortt with a look at what's coming up in the next hour to look at election impact on tech and beyond of course markets are higher, but there are some local issues too that were on the bloalt. we'll dig in coming up on "squawk alley. (toni vo) 'twas the night before christmas, and all thro' the house. not a creature was stirring, but everywhere else... there are chefs, bakers and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best. get up to a $1,000 credit on select models now during the season of audi sales event. >>> coming up later today on "the closing bell" a look at the sectors that could see the biggest impact from the midterms "squawk alley" is up next. the president is set to speak 30 minutes from now we'll take you there live. don't go away. yeah, that too. i don't want any trade minimums. yeah, i totally agree, they don't have any of those. i want to know what i'm p

drilling down into call com the shares down lower yo-yoing since the report john fortt has a summarirysn't just the ceo. port kind of a part line call. i talked to don rosenberg. the president. mull moline comp talked hildeman hildeman, said the quarter was driven by strong business in china. 5 g is still important in 2009 they're on the doorstep of 5 g talking about apple and talks, the headline out that they haven't been talking recently, he said we have had talks in the past i'm sure we'll have talks in the future this is getting settled one way or the other through litigation or settlement. as i guess we know don rosenberg, the general counsel talking about the summary judgment and standard essential patents where a federal judge said that qualcomm must license two competitors they completely disagree with the take but the final judgment won't happen until trial. qualcomm sticking to guns on that and christiane, talking about global markets, saying they see strength in china and also in india and better yet for them they see customers trading up to higher level devices while apple

. >> okay, thank you, rick santelli and now let's send it over to john n fortt for a look at whats comingces, so is the worst over whether you're talking about tech stocks in general or facebook scicay,pefill we will dive into that coming up on "squawk alley. >>> welcome back to "squawk on the street." stocks are hovering near their best levels of the morning following yesterday's broad sell-off consumer discretionary and communication services stocks are the best performers today, but let's drill down on another group making notable moves higher today and that's industrials. a broad group of names moving that sector to the upside, including airliners like american and southwest, along with equipment makers, caterpillar and deere which reported strong machinery sales last quarter finally, we are keeping a close eye on shares of boeing, trying to put an end to its longest losing streak since 2014 now i'll send it back downtown to you guys. >> all right, leslie, thank you. some of the movers today. >>> coming up later on "the closing bell" one of the busiest travel days of the year. we'll t

30 year looks aggressive and the jobs look good optimistic te from the markets let's send it to jon forttquawk alley" in the next hour. >> roku is down big, 18% we have the ceo coming up because the streaming numbers are strong, he's expressing atboidence wh aut the mismatch, coming up on "squawk alley. >>> welcome back to "squawk on the street." i'm dominic chu. check out what's happening in markets. they're trying to find positive territory on the dow now we want to call your attention to what's happening with financials, they're on the move. they're about a quarter percent to the up side among names moving on this ahead of the fed meeting are some of the banks out there, regional specifically and some money center banks as well check out what's happening there. bank of america, charles schwab, and capital one financial and sun trust banks higher by a percent to 1.5% or so. and cincinnati financial, moving to the up side by about one-third of 1%. and oil, something to keep an eye on today as we watch that sector in particular as oil prices move to the down side wti crude is off three-qu

. >>> now over to jon fortt with what's coming up on "squawk alley. >> hi, david is the relationshipween tech companies and tech workers fundamentally changing with news out of google and amazon headquarters, an important question, we will dig in coming up on "squawk alley. man 2: it was environmentally contaminated. one of the biggest successes we had early on was entering agreements with the epa on cleaning up the property. man 3: we're recycling over 98% of the products on site. man 4: the impact that this project will have on the community will be enormous. ( ♪ ) will be enormous. show of hands. let's get started. who wants customizable options chains? ones that make it fast and easy to analyze and take action? how about some of the lowest options fees? are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need. alright one quick game of rock, paper, scissors. 1, 2, 3, go. e*trade. the original place to invest online. and all thro' the house. 'twas the night before christmas, not a creature was stirring, but e

carl quintanilla with morgan brennan, jon fortt at post 9 of new york stock exchange.carl, taking a look at this now. we have a build in crude oil inventory of 10.3 million barrels. i want to look at the production number 11.7 million barrels a day that's up from last week remember, one of the reasons we saw crude oil drop so drastically is that u.s. production number continues to climb. and again, it is climbing here crude oil trading 56.57. a little rebound yesterday massive losses in the trade.

i am carl quintanilla with morgan brennan, jon fortt at post 9 of new york stock exchange also wit

. >>> time to send it to jon fortt for what's coming up on "squawk alley. >> kara swisher recently satanging interview. now she's sitting down with us to talk tesla, elon, and more. that's coming up on "squawk alley. ♪ ♪ ♪ ♪ ♪ the difference between possible and impossible? it's a person who believes they can, surrounded and supported by others - by us - who believe it, too u.s. bank - the power of possible. >>> stocks are holding gains the s&p is trading a little to the up side. consumer staples is one of the notable outperformers in trading, up around a percent one notable laggard is sysco they reported earnings, warning that high costs are eating away at profits something to watch there, guys back to you, sara. >> thank you. >>> coming up later, all day on cnbc, your money and the midterms we take a deep dive into sectors that will be most impacted by the vote and how to position your portfolio into tomorrow and beyond we have you covered, starting 3:00 p.m. eastern time david, see you then. >> evelyn davis died at the age of 89. the dutch american investor agitated company meetings

. >>> let's send it to jon fortt with a look at what's coming up on the next hour, "squawk alley. >>ar from, james park, ceo of fit bit. that stock is up 28% after earnings check out the cnbc app you can see that, the beat on the top and bottom lines, how long is it sustainable find out coming up on "squawk alley. >>> welcome back to "squawk on the street." stocks are hovering near the best levels of the day so far with the s&p 500 on pace for the best week in nearly 8 months but one grioup struggling, communication services that particular sector one of the worst performers, among the names leading that to the down side, verizon, viacom, and social media companies like twitter and facebook twitter was the second best performing stock in the s&p 500 during the turbulent month of october, up more than 20%, but not participating in broader market rally today something to watch facebook also lower, guys. back to you downtown >> twitter second best because redhot got bought. dow is up 182. let's get the santelli exchange. good morning, rick. >> good morning, carl. welcome my guest, dr. j

the nasdaq was down 2.8% at one point, now down 1.2% jon fortt has a look at what's coming up on "squawklley." >> good morning, sara. a lot of red across the board, but pure storage which reported earnings last night is up about 2.5% on some strong product news and updated guidance what's good in tech? we're about to find out coming up on "squawk alley. >> see you in about ten minutes. >>> we are off the lows of the day. discussing the price action with apple, the biggest loser down more than 3.5%. >> look what happened to the broader market we talked about it late yesterday on "closing bell." they closed closer to lows than not which set us up for another down day today the selloff now is about the internal damage done to the market in the month of october, the market needs to find its balance. until it does, you'll continue to have the days we have down to 2635, ten points off the lows we tested in october. i think that's the low it wants to test. in between 2610, 2620. it wants to know the buyers are there, then that will offer stability to the market. until we get there, there's no s