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tv   Worldwide Exchange  CNBC  October 19, 2021 5:00am-6:00am EDT

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it is 5:00 a.m. at cnbc global headquarters. the top five at five. tis the season, as we brace for earnings reports from j&j, netflix and more and gaming, a scathing new report targeting robinhood and competitors for what they're doing to the retail investing landscape. and alibaba taking the chip shortage in its own hand. facebook going on the pr
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offensive as it braces for investigations coming from leaked internal documents. and from l.a. with love. brian sullivan sits down with the u.s. ceo of b&p with his take on returning to work, the global energy crunch and u.s. equities in 2021 and beyond. it's tuesday, october 19th, 2021 you're watching "worldwide exchange" here on cnbc good morning i'm frank holland in for brian sullivan while he's in hollywood. here's how your money and the global markets are setting up that you are day after the s&p and nasdaq closed at record all time highs stock futures are up marginally, all the indexes up a quarter per sen, dow looking to open more than 50 points higher at the open the bond market, the yield on
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the ten year this morning below that really crucial 1.6% mark. right now at 1.584 we'll keep watching that and crude it's still hovering above $80 a barrel another closely watched metric right here for the economy right now we're seeing brent crude at $84 a barrel. wti, the u.s. benchmark up a percent right now. and bitcoin, still above the crucial $60,000 mark this morning. looking right now we see bitcoin up 1.5%, at 62,000 looking right now, you see lithe coin up 3% this morning something to watch. looking around the world a mostly higher session across asia, saw hong kong surge more than 1%. europe getting the trading day started and already a busy morning. julianna tatelbaum is in the london news room with the early movers good morning, a lot going on you have green on and a lot of
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red on the board, too. or is that red >> it's a mixed board, we have some green, some red we are seeing markets turn green over the last hour or so i would say overall a muted start to the trading session a number of earnings coming into focus in europe today. the stoxx 600 pulled back about .5% yesterday breaking a three day win streak this morning a holding pattern, teetering around the flat line the key earnings, i think today is about the company stories let's kickoff with dan non, it's reiterated its full year die gans saying it will return to growth in the second half of the year hopefully we can show you a charge of danone beating analysts forecasts
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coming in higher than last year is eriksson. hopefully we'll get you a check on eriksson. miner bhp left its guidance unchanged. despite a drop in iron ore output a few of the names in focus today and a big week ahead so a lot for investors here in europe to look forward to. >> thank you for the latest in europe. to this morning's top corporate stories. alibaba is developing its own in house power server the chip is off designs by the uk based arm and will not be available for commercial use outside of alibaba it's the largest cloud p provieweder in china the fda is getting set to mix and match covid booster shots. according to reports they'll allow people to receive boosters
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different from their first covid vaccine and will not recommend one over another it could come this week along with approval of boosters from moderna and johnson & johnson. inve invesco said it will not look to launch bitcoin futures, pro shares another fund provider is ready to list the first u.s. traded bitcoin etf those shares trade later today the markets. earning season under way 72 s&p 500 companies and eight dow components reporting this week today we get numbers from netflix, johnson & johnson, proctor and gambel, travelers, united airlines and others netflix out today, no secret, subscriber growth will be a key metric and with squid game hitting the platform just a few weeks before the end of the
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quarter, netflix may not see the results yet. joining me now, kate fadis good morning. >> good morning. >> your take on netflix ahead of the take. >> frank, netflix in the second quarter reported an increase in revenue of 20% and strong operating margins however, north america actually declined all the growth came from latin america and asia pacific they have also announced an expansion into gaming with the release of three mobile games in europe when they report today i'm going to look to see what's going on in latin america and asia pacific. i want to hear what's going on with "squid game" and i want to hear about the gaming strategy i'm skeptical they can compete in gaming but let's see what happens. >> a lot of people are skeptical about the push into gaming they're saying netflix is a content company not a technology
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company. netflix often kind of seen as the little brother, little sister of the faang stocks but outperforming amazon and apple year to date do you see netflix continuing to push higher on this report >> it's questionable, frank, honestly because netflix has struggled in the u.s. there's a lot of competition it's competition for eyeballs. now it's not just tv, it's not just hulu, it's gaming, there's a lot going on, markets are opening up, people are going out, traveling, doing more things so i think netflix may have a tough time. >> we have to switch gears kansas city and southern both reporting. how important is the numbers versus the commentary? >> i think the numbers are going to be huge canadian is buying kansas city, paying a big price, paid a $700 million breakup fee in the second quarter revenues
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increased by 47% when they report today, i'm going to look at guidance. pent up demand for vehicles, appliances, raw materials, how will that help them in k-2 two third of demand from mexico is -- mexican fuel is imported so that's a big mover for them, what's going on there? canadian national they have issues in canada, positive they have some coal closures so are the coal plants going to reopen? what's that going to do to their demand >> last one, i give you your own pick what other stock are you excited about for this earning season? >> this earning season i'm excited about shoe carnival. i love shoes and i love this company. it's a sthu shoe retailer the market cap is shy of a billion and they sell affordable shoes the founder still owns a third of the stock they understand their local
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market, they adapt to fit the market the chicago store may feature more urban wear, the miami store more party shoes it's a fun shopping experience good thing about this company, they pivoted during covid. they have a great online strategy, this is a long-term buy, a high quality company. >> kate with the outside the box pick i don't know if they have my size there, i have a size 14 appreciate you being here. when we come back on "worldwide exchange," an interview with one bc fund looking toe fuel bio tech overseas. we speed with vivid seats ceo. and later big promises from tim cook and company as it revamps the premium macbook pro but can it overcome supply chains and deliver a busy hour stl eawh orwide exchange" returns so, salesforce customer 360 unites your marketing,
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it's moving day. and while her friends are doing the heavy lifting,
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jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. the pandemic hasn't managed to dampen the spirits of private venture firms looking to fund new investments especially in health care. one firm leading the way is sofinnova partners which announced a fund today joining us now is the managing
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partner at sofinnova >> bonjour nice to see you again. >> that's all the french i know. we have to do the rest of this in english congratulations on the closing of your fund, $548 billion raised over the last 12 months a reported for your fund tell us what kind of companies are you looking to invest in with this new funding? >> thank you for giving me the opportunity, frank it's great to announce today our early state fund we talked about the later stage fund six months ago, but there's so much interest in finding cures, simply, to new pathologies and covid has increased everyone's interest but so many things are not treated, cancer, degenerative diseases, so the list unfortunately is long and we are, you know, trying to find the next entrepreneur to develop new drugs against those.
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>> it sounds like there's increased interest in life sciences, finding cures for diseases by a lot of other issues in the world, the desire to connect people remotely, the desire to cure covid can you tell me how much of this in your mind is seen as esg investing or impact investing? >> how much more impact can you be if you save people's lives. so i think we are very clear that esg is central to investment policies and health care investing has to be clearly investing that will make a big difference to people's lives so we see this as a great way to create impact on the world >> so i know you're a european fund but you've said that north
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america is a key focus why put such a focus on north america when you're a fund based in europe? >> we invest in the u.s., one third of our moneys go to the u.s. but the u.s. is central in the bio tech ecosystem and the science developed there, too of course the public markets and nasdaq has been huge in boosting this sector. from our perspective, you need a global view. if you find a cure for cancer in italy, denmark or austria, you need a global view, that, of course, includes the first market for health care in the world, which is the u.s. >> you kind of see this as impact investing in the health care space, where does this fit in your strategy and the funds you're mansioaging right now in what's the goal of this one, how does it compare to the other funds that you have? >> this fund is number ten in
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that capital strategy. that means that we've been going on for a long time with this that will look for the early stage, company's seed an early stage. we have 2.5 billion euros under management and we invest throughout the life science ecosystem so very, very early stage like capital fund two, even public investing. so this fund tries to specialize in doing that, to locate beyond things the next moderna, the next entrepreneurs that have the platform that will need to the next therapies. >> we appreciate you being here. thank you. still on deck on "worldwide exchange," fresh in the milken conference in los angeles, more on the global energy crisis and investing. much more with brian sullivan. >> announcer: today's big number, $586 million
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global conference is under way in l.a brian sullivan is there. we caught up with the u.s. ceo on global bank with a major presence on the west coast asking about the challenges getting employees back to the office >> we expect all bankers to be on the road, to see clients. staff to be together because nothing replaces in person interaction. it relates to return, we target 40% back on premises in 2021 we expect this to be in the 60% range in 2022, but still under a rotation >> is that because of covid or the new way you can do business? >> i think this is a new way we can do business. you and i have been interacting a lot over the last two years digitally. i think it was fantastic because we've been able to connect to share views, but in the meantime, how do you convey
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company's values without being in-person together how do you train the new analysts we've hired who have never seen their bosses physically if you don't get back to the office, get back on the floor. however i think you have to convince employees to come back. you have to make the office a nicer place, a more connected place and there is something in terms of value for position to accept the commute, to accept to be in an office and to leave your community most of us have been home and been there, and we see the benefit of that. >> it is a tough balance, i don't envy ceos like yourself having to make the decisions you're here, right now europe is undergoing a bit of an energy crunch, high gas prices, coal prices, issue of availability in the uk do you see that slowing down the
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trade, sustainability bonds that have been hot for you? >> first on the esg side, the train has left the station it's driven by investors, it's driven by issuers as well. that's really the main train to have in mind you like statistics, by this year we will have seen community esg issue for bonds and loans in the trillions but 2025 we had 35 trillion and you have good connection in europe, in 2021, 50%, half of the revolving facilities on the return had a component as it relates to the -- what you mention about england, listen we've seen bumps, including here on the esg journey, i think
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there, the cop 26, taking place a few weeks away in scotland will reinforce the trend if you look at higher energy prices more recently climate driven events i think it's going to push the worlds further to renewables >> from a market perspective, you are investing, growing in people you hired away deutsch bank's entire prime business, do you have a macro economy view? i don't think i asked you that >> i'm glad you never asked me this but jokes aside, not so much a micro view what i see, a see a shift in momentum, you know, for after the last six weeks of defensiveness in the markets, we see a better tone. driven by, you know, the q3 earnings kicked off and positive, including for the
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banking industry we definitely see some good u.s. economic data, which should incentivize the fed to taper, which the markets want in the meantime we see the yield curve that has been a bit on the higher side for the 10 and the 30, which i think is all good for equities in capital markets for the next few weeks our thank you to brian sullivan and now time to check our other top headlines this morning outside the business world we want to thank phillip mena, he's in new york with the latest. >> good morning, frank south korea has confirmed that north korea fired a ballistic missile off the east coast today. it came after u.s. and south korean envoys met in washington to discuss the nuclear standoff.
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south korea successfully tested a similar weapon last month. the supreme court has agreed to consider fast tracking the appeal of texas' abortion ban. advocates requested that the high court hear the case if justices agree it could deliver a ruling much faster than usual president trump is suing the house committee investigating the january 6th insurrection as well as the national archives. his lawyers are fighting to block the handover of documents wanted by the committees as part of the investigation into the capital riot the lawsuit claims executive privilege should shield the documents. washington state's head coach has been fired after refusing to comply with the vaccine mandate. the nhl has suspended evander kane for 21 games for having a fake vaccination card
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he apologized for his action and said he made a mistake one he regrets >> we appreciate it. straight ahead, facebook going on a pr offensive as it braces for a newa wave of allegations. but kathy wood taking issue with the stock market's report. if you missed "worldwide exchange," check us out on apple, spotify or other apps "worldwide exchange" will be right back
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investors gearing up for another busy day of earning season and insights on relief from supply chain and inflation issues futures in the green a big day for crypto as bitcoin breaks ground with etf futures today. apple doubling down the big bet on its own chips it's tuesday, october 19th and you're watching "worldwide exchange" right here on cnbc welcome back to "worldwide exchange." i'm frank holland in for brian sullivan while he's out in hollywood. here's how stock futures are looking halfway through the 5:00 a.m. hour on the east coast. it is still early for the futures but they're green across
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the board. all of them up marginally. the dow looks poised to pop 75 points at the open if this continues to hold. to the top corporate stories wall street's top regulator is accusing brokages of game fieing these accusations by the s.e.c. coming as part of its highly anticipated report on the redit training mania that hit markets this year. the s.e.c. is not laying blame on a single cause or firm. ark invest kathy wood taking the other side, stressing she's not wording about the game-ification of stock market trading. >> i know people are concerned about the gaming that robinhood looks like, but i'm not. the fear and risk aversion that
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permeated the markets took the joy out of the markets and took the creativity and the imagination. now it's coming back and i really think it's starting with the millennials. they are excited. >> and s.e.c. chair gary aggense will have more on the report later on squawk. facebook is reporting on leaked documents ahead of what's expected to be a series of articles based on the document facebook sending out tweets yesterday slamming journalists without naming any outlets specifically for working on docu documents that were leaked contract talks between deere and 10,000 striking workers have resumed. according to reports the company and the united auto workers union have resumed discussions they began the strike on thursday after rejecting a
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contract that would have delivered 5 to 6% raises to workers. turning to bitcoin, as the first etf will make its trading debut later today. invesco is dropping efforts to launch its own etf all comes as bitcoin is back above 60,000 it's 62,000 for the first time in six months as it pushes towards it all time highs. for now i'm joined by the founder of token metrics ian, thanks for being here. >> glad to be here so we're seeing a lot of talk about these bitcoin futures etf, not pure play bitcoin etfs, how much has played to the action, bitcoin up about 30% the last month? >> there's been lots of specu speculation, especially amongst smart money regarding the bitcoin etf which was new regarding the last month of circulation because in the past it's been retail that has been
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spec speculating. once you see smart money speculate that there's likelihood of an etf happening then you start to pay attention and i think that's what happened here. >> we'll have one of those bitcoin etf -- future etf, hit the market what do you see this impact is going to have on the broader market >> this is a big step for crypto the s.e.c. has basically endorsed crypto, although not ideal. ideally it would like a spot etf, but this is a starting point for anyone who wants to get into bitcoin >> you said not i ideal. we've heard a lott of traders sa this is not ideal. a lot of people in the bitcoin community say it's not ideal, why is it not ideal? >> it's not ideal because you have to go through and pay extra fees, right. and this etf, i believe, holds
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up to only 85% bitcoin so it's not really a fully bitcoin etf. and you have to deal with the tangle as well so for the newbie, they would be getting killed in fees and they're better holding off an interest part etf but it does not exist so this is the best to do. >> one thing you're trying to highlight is you can be long and short on bitcoin what does that mean for the crypto market? >> everybody is getting excited about this etf but if you can be long and short, that means anybody that's negative on bitcoin that thinks the etf could go down could short it 2017, same thing happened with bitcoin then once you get smart money involved, more institutional investors involved, wall street involved anybody who wants to take the opposite side of the trade could do that. this does not necessarily mean
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we'll all be one and beyond in crypto. >> you did say it's a big step for bitcoin. one of the things that this will allow people to do is invest in bitcoin without having to take custody of it. a lot of issues with holding bitcoin. do you think that will increase adoption or increase corporate adoption >> yes, absolutely because most people, especially retail investors like to investor 401(k), mutual fund and now we're giving bitcoin wider exposure globally. so any exposure for bitcoin is good exposure in my opinion. >> i don't think you're the only person with that opinion thank you for being here have a good day. >> thank you. turning our attention to apple. officially unveiling a new line of products including refreshes on its macbook pro, air pods at its event. the tech giant moving away from intel, putting the proprietary
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chip inside those laptops. for more key takeaways and if apple can handle the pent up demand let's bring in alex thanks for being here. >> thanks for having me. >> that's the question does apple's supply chain have what it takes to keep up with demand i'm asking you. >> it's a great moment to have your own chip. it just takes one of the different variables out of the equation from that standpoint i would say that's really good the people who are trying to order these laptops off the apple site if they got the stock model look pretty good it was going to ship almost instantly. once you started customizing it, there were sites that reported it might come in not november, but late december. that's an issue for apple. tough to imagine a lot of folks are like let me buy this computer and cross my fingers and hope it shows up by christmas time so apple is going to get hit, like everybody else due to the chip shortage and supply chain
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issues but it's in goodpositio because it makes its own chip. and apple is a beast the scale is enormous. and it's a supply chain expert that's one of its core competencies so i think it will be better positioned to survive this than many other companies. >> you're saying they're supply chain experts. they're also experts in branding one thing about this macbook, it's pretty expensive, pretty much $2,000, what do you think that's going to mean for consumer demand and also expectations for this macbook? >> i think we go through our normal cycle with apple, most people look at the price, starting at $1,999 no way i can afford that same thing with the iphone every year, people say how dare they charge that much then you get over the sticker shock and we pay apple yesterday we were gaming out how much their machine was going to cost and people had their computers running into the
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$5,000 range for a laptop. that's amazing one thing they didn't tell me, they didn't say i'm going to go with another computer. they're all going mac, it's a matter of when not if, and so, apple has this magical ability, like you mentioned, to brand and raise the price as much as they probably can and it doesn't really seem to get any blow back in terms of lack of sales. so i say probably going happen again this time. >> one more question about the macbook and then move to the other announcement you mentioned it looked great, one of the things about the apple product, you can hold it, it has three cameras, people like to show they have the latest apple product, like you mentioned. >> yeah, this laptop is going to be a pure status symbol. i was thinking are you going to be able to walk into a coffee shop with the old macbook after this comes out, and i think it's a question mark. people are going to want to
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display it proudly they're going to look different, not 13 inch, but 14 inch the notch on top so people will see out in public which model you have so i think it's going to be something that serious professionals just show up with. and that's going to help apple as well. >> one thing we want to hit on is the home devices and air pods the air pods will be in stores well before black friday how do you see the demand playing out for those. the blue tooths in the day were corny retunning around with, no people love it do you see the trend continuing? >> yes they work great, the price is going up on those as well. apple is testing us having the prices go up across the board. it's interesting to see apple at the beginning of the event talk about air pod, the home pod, apple music. these are all products competitive with other tech
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giants amazon has all of those, so i think it's not going to be as easy on that one. >> we appreciate the insight as always coming up, the ceo of ticket marketplace vivid seats discusses husband company's decision to go public amid an outlook for concerts and sporting events. the i.p.o. pipeline got more crowded. the company behind the popular kid's show "cocoa melon" is looking to go public they're seeking a valuation of at least $3 million if it goes the sales route and potentially more with an i.p.o. backblaze revealing it will list under blze and seeking a val wevaluation of up to $1.5 billion "worldwide exchange" back in a moment
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going public today -- actually trading today under your new ticker and also on ringing the bell thanks for being here. >> thanks for having us. a day in history and i'm proud of our team and the accomplishments so far. >> i was looking at other stocks that i look at as a proxy for live demand, wwe, live nation outperforming shares over the last month what are you expecting today for your shares? >> i think, you know, it's an exciting day as we hit the public markets we remain focused on the long-term we're going to look at what happens today clearly but our focus has been on delivering lots of value to our customers both on the fan side and seller side. >> with all that's going on in the world a lot of us are trying to get back to the office and back to normal, but also we've seen some -- i can't talk for a second stan, breakthrough cases in covid-19. how much of that is a concern
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for your business, how do you see that impacting demand to attend live events and attend theatres >> i think first and foremost, safety of the fan, safety of everybody i think is always front and center when you think about live events, especially in these times. as we've looked at what happens we see venues and team become more stringent with access as we look at broadway reopening, vaccination being required to attend events, i think we're starting to see that on our side, as we look at it, we've always had fantastic customer service, 100% buyer guarantee. we stand by what we sell and make sure consumers feel safe and protected. >> draft kings investing in your company. what kind of opportunities do you see that opening up? >> i think we're excited about the partnership and certainly their investment as well we have one of the industry's only loyalty programs that
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rewards every single fan when we launched our new version of the loyalty program, vivid seat rewards in july we an announced it with a draft king perk i think we look at the live event, go we look at the potential sports better and sports goer we think there's overlap in value for them. we're excited to work with draft kings and further the partnership and see what that might bring. >> overall, for me at least, i do go to the gym, i go different places but i'm a little bit more careful. as people continue to reconsider where they're going and how they're going. you mentioned sometimes vaccination cards are required how do you adjust your business? is it tech advancement, is it putting up more regulations and vaccinations and showing proof and stuff like that? what's the next step for the events business? >> again, i think making sure that all of the protocol is there to ensure a safe environment, which i think the venues have done a tremendous
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job of, when you look at, i think the places that you transact, looking for a safe and secure marketplace, this is our 20th anniversary as well when we look at safety behind that i think we are a marketplace that stands behind our customer service, buyer guarantees and that's what consumers will be looking for as they look back to get to live events. >> you're the ticketing brand for a lot of live events where does ticketing go next what's the next leg of it? >> i think we're really at an interesting time right i think we talked about a lot of pent up demand coming back, people coming to that for us we tried to innovate along the dimensions of consumers. our rewards program which was fantastic and unique prior to really the pandemic setting and we took that opportunity to think about how we could continue to deliver incremental value to our consumers now our loyalty program is one
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that delivers 10% on every ticket that a fan buys we have draft kings rewards we have surprise and delight programs with access to unique events as folks look at ticketing and live events they're going to look for things that add to the experience beyond the transaction and i feel good about what our team has been able to deliver value to consumers. >> good luck i look forward to going to my first concert since the pandemic started maybe i'll buy on vivid. a big trading day taking shape with investors radars, edo tcls, we lay out what yo ne twah. "worldwide exchange" will be right back round on your biggest project yet. worth is giving the people who build it a solid foundation. wealth is shutting down the office for mike's retirement party. worth is giving the employee who spent half his life with you, the party of a lifetime. wealth is watching your business grow. worth is watching your employees grow with it.
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principal. for all it's worth. paola needs a parachute. so, salesforce customer 360 unites your marketing, sales, commerce, service, and it teams around her. so they can deliver a great experience from anywhere. ♪ (whistle) ♪ it's another day. so they can deliver a great and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat.
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only comcast business' secure network solutions give you the power of sd-wan and advanced security integrated on our activecore platform so you can control your network from anywhere, anytime. it's network management redefined. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. welcome back to "worldwide exchange." let's get a check on the big money movers alibaba is developing its own in-house process erused to power servers in its data centers. it's used off designs made
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popular by arm and will not be for use outside of alibaba it's the largest share in china. spotify plans to hire hundreds of new employees to boost services in ad services in europe and elsewhere they're trying to capitalize on the large number of users who don't pay the service a monthly fee. and jauj and proctors are out with earnings. back to the markets as investors gear up for the reports. let's bring in amy wu silverman. amy good morning, thank you for being here >> good morning. >> we have netflix, tesla, united and many more reporting this week. where are you seeing the hot option action ahead of those reports? >> you know, it's been interesting because it usually what we do is we look to the
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implied moves on earnings ahead of these reports what i would tell you is typically around this time because it's an important earning season, that hasn't happened recently for the financials but i think as we head into megacap tech that will happen more given the focus and how much tech has driven the value versus growth rate. >> the financial sector, where are you seeing moves in the financial sector and the action there? >> for the names that have reported all of them in terms of what they were implied have actually not beaten the magnitude of the move on earnings one thing that i think has been interesting in financials is short term the options sentiment has been fairly bullish but longer term so we're talking three months to 12 months has been actually bearish so you're seeing a rise in puts in terms of the demands of puts relative to calls that you're not seeing in the one month space so that
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sentiment is shifting more bearish in the sector. >> let's talk about the bitcoin etf. i know that you're in the thought that there's a lot more room for that etf to run once it starts trading why is that? >> yeah, you know, what's interesting is about a month ago we hosted the head of risk strategies at coin base. basically to have a discussion about how options and equities are going to be impacted by bitcoin and other cryptocurrencies one thing that they said to us is look, equity market participants have a hard time understanding how things can't be priced into the market because this is something about a market that's efficient. if equity markets are b students then bitcoin would be absentee students that's how he put it despite the fact the headline has been out there it's an institutional base that knows about it and really that upside is still there because of the heavy retail base participating
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in the efficiency of the markets. which obviously ends up impacting like a tesla or micro strategy or their companies are actually physically holding the coins as well. >> seemingly rallying off bitcoin's price surge in recent weeks. i want to continue your metaphor about bitcoin being absentee students with the etf it looks like they'll slide into the back of the classroom. what does that mean for the broader equity market? >> two things. this was part of our conversation with coin base. one interesting takeaway i had from that call was, when this becomes more accessible, so this becomes something that, you know, people can, you know, potentially access just directly through a brokerage account or one day through an ira or 401(k), it changes the game in terms of who's going to be part of it and i think that expansion
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is interesting for it. the second part is obviously if you have companies like a tesla, for instance, i shouldn't say physically but when they're holding the cryptocurrency itself obviously that's going to start making impact to those stocks which is why i think you're seeing the rallying what i think is options have di diver gens on the names. you're not seeing that yet. >> one thing i want to touch on is investing in china. have you seen anything changing with the evergrande situation turning off a lot of investors >> if you had asked any that a month ago i would have said that most clients, unless they're specialists or even if they are specialists have called it untouchable, uninvestable. how do you have a unique view when it's about sweeping policy changes? i would say that sentiment is starting to shift.
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we see that in the relative equity implied pairs that we track. they went from 99 percentile, the most bearish you could have on china using fxi as a proxy to now really coming down so people one way or another are saying this might be the bottom in asia and they're starting to be more comfortable selling puts in the name, owning upside in china and chinese related stocks. >> we'll give you the last word. one thing to look out for in today's trading day, what would it be? >> you know, i think continued headlines on the cryptocurrencies i think is something to watch and then obviously i think tomorrow we'll have tesla earnings which should be interesting. >> amy with you silverman. your parents moved to hawaii, congratulations. i read your note that does it for us on "worldwide exchange." >> they're psyched. >> "squawk box" coming up next
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good morning earnings season rolls on we have a long way to go but today we'll hear from j&j, travelers and proctor and gamble we'll get you ready for the netflix report due to afternoon. wall street's top regulator out with a report about the gamestop mania. bashing online brokers for making trading feel like a game. and as we await word from the fda on covid vaccine booster shots one college football head coach is now fired for refusing
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to get vaccinated. it's tuesday, october 19, 2021 "squawk box" begins right now. good morning, everybody. welcome to "squawk box" here on cnbc i'm becky quick. joe kernen is here, andrew ross sorkin is here and we are checking things out on this tuesday morning. right now you seethe u.s. equity futures are higher after a mixed day for the markets yesterday. dow futures up triple digits, 101 points above fair value, s&p up 15, nasdaq up 44. the nasdaq and s&p were both positive yesterday if you want to check out the treasury market we saw yields pick up a little bit yesterday and higher still the ten year 1.588%.


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