The highly anticipated service shares of gap tank after the company ceo announces his exit it is friday, november 8 and Worldwide Exchange begins right now. Good morning, here is how your money and the markets are setting their day up futures pointing to some stability. A slight decline the dow would be up by about 10 points s p off by about one point and nasdaq off by about 11 treasury yields backing off ever so slightly. 10year treasury moat yields move to the most in a oneday gain since President Trump got elected but seeing a bit of a pull back at 1. 9 . Two year notes at about 1. 7 the knee day in japan about a quarter to the upside. The hang seng is off and the shanghai composite as well well move to the european trading. Dax off a quarter of a percent cac similar and the ftse 100 as well slight declines in the european trade. Turning back to china now reuters is moving the internal option from the white house and advisors joining us live with the latest. I feel like weve been here before we have a deal and dont have a deal what is the take from the chinese side of things this seems official coming from the commerce industry. What i thought was interesting was the reaction in the white house tariffs on the negotiation table. White house Economic Advisor appeared to confirm to bloomberg that the tariffs removing tariffs is up for discussion when he said that tariff agreements and concessions would be clued if there is a phase one agreement. That seems to contradict trade advisor navarro who said removing existing tariffs is not a deal potentially removing those could risk the leverage. The chinese have been very consistent about what they believe the Commerce Ministry and state media have been saying that phasing out tariffs have been a pointed discussion and that it is a key condition if the u. S. Wants to have a phase one agreement with china clarify something for me. We know there is strive on the inside here. Is there any kind of option on the chinese side whether or not the tariff roll backs are necessary for this phase one to get done it seems the headlines yesterday reported for every roll back the chinese would do, the u. S. Would do a similar one it would be tit for tat. Is that the case on the chinese side there is option from the government or at least people that are skeptical as to whether or not the approach right now is the right one and if it is going to economically hurt china too much we saw the trade deal for example for october. I did show another slide it was better than expected. The chinese economy is still slowing. You will not hear that publicly because there hasnt been enough disagreement for the approach to change the policy or its approach live in beijing with the latest we are now less than one year away from the 2020 election and a high profile name could be jumping into the race threatening to shake up the deal this is a familiar name. Familiar in political and business arena he is preparing to enter the crowded race confirming that although he says bloomberg hasnt made a final decision expected to file paperwork to run in alabamas primary but could keep his options open for a possible white house bid bloombergs spokesman said that the current field just isnt Strong Enough to beat President Trump. He said based on bloombergs record of accomplishment and ability to bring people together to create change might take the fight to trump and win senator warren welcoming him and included a link to her tax plan. He was a republican but reregistered as a democrat hes emerged as a force in the Party Spending 110 million backing democrats and also a gun advocate he has flirted with running before but earlier this year, he said he would not seek the white house. Back to you. Lets get a look at some other top stories. Shares of disney trading higher after the latest earnings topped expectations the results come days before disney plus will be launched the dizsney ceo bob iger says i is ready to go it is ready to go we tested it in the netherlands. That product did not have original content but it was extremely well received. The user reaction to it. Very navigatable, easy to use, elegant. Great access to our brands and our story telling. Big moves for disney there. Shares of gap tumbling announcing their ceo is stepping down immediately he worked at gap almost 15 years. The current nonexecutive chairman will serve as interim ceo after previously holding that position in 2007. Anally baba group looking to raise 10 to 15 billion in the final week of the month and looking to seek approval from the hong kong committee. Shares up a half a percent when we come back, stop me if youve heard this one before the potential trade deal between u. S. And china facing new hurdles. What this could mean for you and your money plus juul pulling the plug on another cigarette flavor and another stock falling. That name and that mystery chart. Plenty more ahead in a bhousy ur of Worldwide Exchange after this break sundown vitamins are all nongmo, made with naturally sourced colors and flavors and are gluten dairy free. Theyre all clean all the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. Welcome back to the show. Pointing to some modest opens and little stability the dow would hope by 17 points. The s p would be down about less than one point and the nasdaq by about nine Treasury Bonds we did see a surge of yields for 10day treasury notes. We are giving back a little bit of that 1. 9 since last trade. Twoyear note yields currently 1. 67 and change joining me now, our guest rob. With record highs on the dow, s p and nasdaq all yesterday, it seems as though the bulls are in control. What have the bears gotten wrong over the past month, month and a half or so dom, i think the bears havent really focused on where earnings have going in 2020. This year, 2019 has been a kwaerly weak year for earnings the good news is that makes the comps next year much more beatable some are rejecting an acceleration of growth one reason we are getting highs is analysts are starting to realize. There is a term being tossed around and it is overbought. That means statistically speaking, what causes a pull back in this stage is it u. S. china trade this earnings season is pretty much already over at this stage. You set at the top of the show, we seem to have a trade deal and then we dont. Well have a few more iterations of that. Maybe earnings will come in weaker but i think that is less likely than turmoil caused lets talk about the macroenvironment the markets here have reflected that the sentiment data maybe not as strong but the hard data pretty darn good so is the economic back drop here constructed to keep going higher . I think so. I think the Economic Data is very constructive. Before the fed went on its rate cut campaign, some of the data was starting to weaken more on the manufacturing side job numbers and growth has continued to be strong the fed rate cut campaign has been on a pause. It does seem to be in a sweet spot right now the idea is growth type stocks doing so well the past year and beyond. And over the course of the past few weeks, there has been this gradual rotation back to value oriented names, maybe dividend payers what exactly is the sweet spot for stocks where do you go . Back to my mentioning the fed has been in a rate cut cycle, even though they are in a pause, the rates should trend down. That will help big cap multinationals the value looking like it will come back continuing to do that and seeing the shift also for u. S. Investors investing over sees is helped by the dollar trending down as well those are two big macroareas im happy to break down what im seeing in the s p 500. You just said you see rates trending trending lower from here does that mean we dont look to the massive surge weve seen when i say trending lower, i dont necessarily mean we are going to take a prompt jump down i just think there is going to be more pressure for rates, there will be more downward pressure Going Forward at least while the fed is in this rate cut cycle. Does that mean rates are going to move . Not necessarily but i think that pressure will be there all right thank you for joining us this morning. Thank you still on deck, the slow spiral of sears continues as they announce another round of store closures and well talk with an investor about why he thinks disney is ready to perform. Stay here with us on cnbc. Low sugar. So good high protein. Low sugar. Mmmm, birthday cake pure protein. The best combination for every fitness routine. Man can i find an Investment Firm that has a truly longterm view . It begins by being privately owned. With more than 85 years of experience over multiple market cycles. With Portfolio Managers who are encouraged to do whats right over whats popular. Focused on helping me achieve my investors unique goals. Can i find an Investment Firm that gets long term the way i do . With capital group, i can. Talk to your advisor or consultant for investment risks and information. Talk to your advisor or consultant did you know that feeling sluggish or weighed down could be signs that your digestive system isnt working at its best . 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The new call of duty mobil game had more than 100 million downloads. The First Quarter out look for adjusted revenues or net bookings are shy Planet Fitness is up. Revenue and same store sales beat forecast. Shares up 9 in the premarket still to come, lawmakers subpoena President Trumps acting chief of staff. Pall dive into how this may imct your money and investments when Worldwide Exchange returns right after this this is a problem that affects each and every one of us. Together with ibm, we created a whole new kind of School Called ptech. Within six years, students can graduate with a high school diploma, a college degree, and a pathway to a competitive job. You know whats going up today . My poster. Today, there are more than a hundred thousand ptech students around the world. Its a game changer. To take care of yourself. But natures bounty has innovative ways to help you maintain balance and help keep you active and wellrested. Because hey, tomorrows coming up fast. 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The white house has promised to defy subpoenas john bolton failed to show up thursday vowing to go to court if he gets one. Theyve got a lot of confidence information executive privilege is very important. We have concerns about National Security out there but we have to give a fair hearing. Try to be open minded and see. Public hearings start wednesday. Adam schiff is asking republicans for their witness list by tomorrow this is a bunch of crap i dont trust adam schiff to be getting to the truth officials want to hear from the whistleblower. We are also tracking the transcripts. The latest from the official who said he was concerned not only did the president want to lean on ukraine to investigate joe biden and Hillary Clinton and that is a wider reference to the 2016 election. Is there any sense of anybody who would be more willing on how to cooperate into the proceedin proceedings and everything else. Democrats dont seem to be going after them but seem to be using it to build a case with the president and white house urging them not to talk but using that to build a case that hes obstructing the investigation for possible art calls on concept of Congress Live there, thank you coming up, well talk to a top strategist on the moves you need to be making with your money wereacexan ene chgewh a bk in a moment. Whether your beauty routine is 3 steps. Or 57, make natures bounty hair skin and nails step one. Its the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. Natures bounty, because youre better off healthy. Doprevagen is the number oneild mempharmacistrecommendeding . Memory support brand. You can find it in the vitamin aisle in stores everywhere. Prevagen. Healthier brain. Better life. Whether your beauty routine is 3or 57,. Make natures bounty hair skin and nails step one. Its the number one brand uniquely formulated for silky hair, glowing skin and healthy nails. Natures bounty, because youre better off healthy. Seefrom todays weather tong, tomorrows business trends. With esri location technology, you can see what others cant. Revenge of the billionaires Michael Bloomberg looks to jump into the 2020 race disney prepares to roll out its streaming service. What the service could mean for that stock the wall street bull set to get a new home why the iconic statue is moving. It is friday november 8. You are watching Worldwide Exchange here on cnbc welcome back and happy friday. Futures pointing to some steady moves into the opening bell if these moves hold, youll see the dow open by 25 points and the s p up by less than one point and the nasdaq down by six the 10year note yields showing the biggest move of 1. 9 twoyear note yells at 1. 67 the nikkei up by a quarter. The hang seng off and shanghai composite off as well. The german dax is off by. 2 the cac is off by about a quarter. Now turning to this mornings top story and a potential big shake up in the 2020 president ial race. Former new york city mayor and billionaire Michael Bloomberg is taking steps to possibly enter the president ial primary according to a long time advisor. The move would come as candidates like Elizabeth Warren arguing that the rich should pay more taxes going to our guest, james, this is something i heard before. It was 2015, 2016 when Michael Bloomberg thought about running. How does this change the dynamic of the president ial race id say god bless him and good luck. Hes got 50 million and not a lot of personality some argue hes too manhattan for the outer boroughs if he can seize that roll as he did in new york city when there was also no other credible figure to take over that race, thats what miss move shows that the democrats need to find a standard barer it doesnt seem as though there is a clear cut one in the field. Warren and sanders continue to get headlines. Joe biden moving a little lower in these polls how does bloomberg stack up to those folks . Bloomberg doesnt really have a constituency outside of support. Biden has sticky support from africanamerican voters and strong support from seniors. Warren has support among affluent and better educated sanders support comes from Younger Voters none of those populations seem to be shifting bloomberg can make some money but he has to target these rather than the public at large. Lets talk about these. My vote in america counts just as much as bloombergs vote or the other billionaire floting around ideas as well this is not a class warfare and i can still win with that particular tack . He does he has to present stability and leadership thats what people want after the trump experience to date hes got to reach out to blue collar voters and show that he cares for them the reason trump has done so well is that hes gone to those blue collar areas and demonstrated that he cares about jobs and underlying communities. Bloomberg needs to come up with a reason why ordinary people want him more somebody who will get involved making the parts of middle of america that havent worked for a long time that need support and attention. Big steps in terms of gun control and health i want to change our tilt towards what is happening with the impeachment inquiry and President Trump. There is a lot of noise made about this should the investment care should they be making decisions ahead of those head dines . Is. Ive been saying big political movements happen this story is not going to be resolved until election day next year we want to look for evidence that congress is really getting something done one of the surprising things is that the usmca is likely more to happen than not. That would be a powerful signal that we may be able to squeeze another year out of the late cycle expansion. Maybe ignore some of the noise around the impeachment discussions. Disney stocks rising those numbers come as the company prepares to roll out the streaming service. Speaking yesterday, disney ceo, bob iger says there is nothing like it. We are not focused that much on the competition we are focused on making sure the product we are bringing is suss successful from a bottom line and a consumer perspective. We have something unique because of those brands. Disney, pixar, marvel, 30 seasons of the simpsons. There is nothing like it nothing like it our next guest says disneys charts show a break out. Bill is on the line with us. It is a 5 gain so far is this a scenario where investors and traders can buy the strength of disney earnings . I think so. What is there not to love. The numbers are great. Excitement ahead of the plus launch we also saw components from the theme parks, from studio revenues we saw them bounce back. Just look at the chart this is a great chart. You are seeing this break out the last couple of quarters. We are holding the average from the 127, 130 area. Now 140 is looking like where we are going to open today. This is a huge number. It is very bullish if you dont own disney, i think this is a green light to get in ahead of the plus launch i see the charts and what you are looking at, one of the big points of contention about disney is that over the years, the emphasis from investors has been shifting. At one point, it was all about espn, then it shifted to movie studios and now it is all about streaming. Is the emphasis here pretty much solely on treatmenting will that drive the results . Yes you have to play to the streaming wars there is going to be competition and more spending. You mentioned a couple of the components they have there is also fox. The call has a lot of excitement about what they are doing with fox. In 2022, they will bring it to hulu thats why this is a longer term look this is a longer term polite here i think there is something to look at you saw some of that stock perform. It will be about what names are they releasing in the studios each quarter you are going to see some great components and fox will bring some as well we showed a big board of all the big players in streaming everybody else who has some of that streaming component the lines between media and technology have been blurring now. Is disney your favorite pick if not, are there other ones that could be better stock picks or compete with them directly . I think disney is the leader here now when you look at what they have in their tool kit. Just from headline names you look down from things like the lion king, toy story, fox and hulu they are the one to be in and the one to beat Going Forward. If not disney, who is the second place finisher in your mind for what happens in the media landscape . I have to lean on apple until i can see otherwise. Netflix has done a lot i think apple, you are seeing a good transition in numbers where some of their screaming revenues are taking hold of the report. I would have to move on apple Going Forward as well. Thank you lets check on other headlines phillip mena is live with the latest good morning happy friday much of the country is waking up to a winterlike freezing cold some places could be 30 degrees lower than usual areas around the great lakes are looking like a Winter Wonderland minnesota is enjoying the first snowfall Northern Michigan schools and university are closing early Jeff Sessions is jumping back into politics. Officially runningfor his Old Senate Seat in alabama the first senator to endorse trump for president in 2016. Trump appointed him the first attorney general their relationship went down after the mueller investigation. A teen jeopardy champion made a huge donation. He won 100,000 in this years tournament announced hes donating 10,000 to Cancer Research a beautiful gesture. Thank you phillip mena live with the latest there. Coming up in the show, rapper kanye west looks to go eco friendly with his pricey yeezy sneakers juul looking to pull another flavor theyre all clean all the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. Did you know that feeling sluggish or weighed down could be signs that your digestive system isnt working at its best . Taking metamucil every day can help. Metamucil supports your daily Digestive Health using a special plantbased fiber called psyllium. Psyllium works by forming a gel in your digestive system to trap and remove the waste that weighs you down. Metamucils gelling action also helps to lower cholesterol and slows sugar absorption to promote healthy blood sugar levels. So, start feeling lighter and more energetic by taking metamucil every day. Are all nongmo, sundown vitamins made with naturally sourced colors and flavors and are gluten dairy free. Theyre all clean all the time. Even if sometimes were not. Sundown vitamins. All clean. All the time. Lets find out what else youll be talking about today. We turn to mr. Frank holland now. What are we talking about today . Streaming wars. They say you should keep an eye on your competition always that seems to hold true for some ceos disney ceo discovered netflix ceo planned on getting a disney plus subscription. His response would surprise you. Thats nice to hear him say that thats a ringing endorsement im a Netflix Subscriber i have also availed that of apple tv as well i got that free because i got a new device first of all, bob iger yes probably has a Netflix Subscription for a long time disney was at one time available. He was at a time part of the apple board he said he liked bird box but was disappointed in the end. No he didnt say that i felt that way. The iconic new york city charging bull skup tur is being moved. The Mayors Office says plans are under way to move the statue closer to the new York City Stock Exchange safety concerns are the reason protesters poured fake blood on the statue to protest Climate Change i remember seeing this thing. To this day, you still see folks hanging out with it. The move is interesting only because they say safety. No matter what, its always going to get attention this is not its original home. It was put in front of the new york Stock Exchange on Christmas Eve of 1989. People were like get it out of here another source of controversy. It is the gift that keeps on giving kanye west im a huge fan he has a new venture involving environmental sustainability he revealed a prototype of the shus that will be made partially from algae looking at the dies used it will go on sale in early 2020 for 75. A lot cheaper than other sneakers these are like crock type shoes. For those people not seeing this now, go google it they look like crocs like space crocs. But they are that much cheaper i dont have any im not a croc guy. Ive never owned a pair my daughter has two or three i hear they are comfortable in sports, the Oakland Raiders duke it out with the l. A. Chargers. It was a close one a 40yard field goal the strongest guide. A string of welltimed plays give them the lead the raiders bounce back and seal the deal with the gameending interception raiders beat the chargers 2624. People who dont know you are a 49ers fan which is like a yankees, mets type think you do it so well on deck, gap is suffering another blow as the ceo announces his exit at cinupft the break. Welcome back. Time for the executive recap shares of gap tumble when announcing the ceo is stepping down the companys current nonexecuti nonexecuti nonexecutive chairman will serve. The Parent Company of k mart and sears says it plans to close more stores. The stores owner is taking steps to focus on its competitive strengths. Juul has ended sales of the mint flavored pods. It will continue to sell menthol pods and two poe bactobacco proa well joined by our guest from citi group this has been amazing. We saw the biggest spike in yields since President Trumps election what changed 50 basis points in just over two months it is markets taking fear out of the economic out look . Im saying we had very powerful assumptions i heard many break downs saying our yields are going to be zero in the market just like europe position, very, very powerful. You see losses accumulating. It is a repricing of policy. Powerful expectations that will unfold will change that is different from the economy churning along that was going into all of this phase the assumption that we were cracking. Increasingly the evidence is pointing to a rebound in trade in the coming year and higher Interest Rates important to know a lot of that is assumptions at this point clearly here, policy risk was the problem. When we are taking those risks out of the market, it is easy to see a move like that you say policy risk trade. And the fed itself. The assumption has been three rate hikes now it is rate cuts. On net, the Federal Reserve may not want to call it qe but it is going to be lending more through the First Quarter and the treasury market. The assumptions would be completely different from a year ago those assumptions were the problem for the market it changed so quickly it was a week ago when we sited so many weakening pieces of data ism, services. We talk about indicators that could tell us there is a slow down everything is bottoming out. Some of those are only improving that much. We have the makings for a rebound. What weve done with the asset allocations going to overweight to underweight now with the notion we were exaggerating the weight down. Producers are producing less than they are demanding. The fare agaear again was that e going to do something at the trade front. Instead, it is more likely consumers outlast this down turn there for, it has to go up so funny, i was out socially a couple of weeks ago. I had a friend come and talk to me flippantly about the media and say, hey, i guess we are not due for a recession. So are we . Weve said all along we believe that Business Cycle itself is more or less a whimper. The risks were for some sort of supply shop. We were at risk of making a big policy mistake likely as well on the trade front. It is like veering away from a cliff. You get back on the road thank you for that. That does it for Worldwide Exchange. Squawk box picks up the market coverage right now good morning, futures are moving around on reports that china statements that tariff roll backs are sparked division among trump advisors disney shares are surging. Earnings beat the street days before the launch of the new streaming service. A bombshell in the race for the white house. Former new york city mayor bloomberg taking steps towards running. Well show you how other candidates are responding. Squawk box begins right now. Good morning. Welcome to squawk box becky is off today. The dow looks like it will open about 29 points higher s p up marginally. Nasdaq off about 4. 5 points. Watching the 10year the biggest jump since the 2016 election well be talking about elections coming up. Top corporate earnings shares up sharply for disney reportin