A little hard. It looked to me like it was twitter. Like watching twitter for 90 minutes. I did not stick to my original plan. Baseball and bed the two bs i stayed up. I want my time back. I didnt stay up for that long you can play this game with me i felt dissed. How much words can you come up with disappointing, disturbing, disspiriting, distracting, disheartening. Disgusting. You can probably go there disspiriting i looked it up thats exactly what i wanted to say. After all those disses, i wound up with disinteresting thats when i was gone right . It was a let down ly say that. Some people like to watch the fighting it is hard to turn around from it if you were somebody who was tuning in. In my core pin of both candidates, nothing really changed. Mike Wallace Chris wallace had a tough job. I guess he did okay. Im not going to nominate him why do you bother having rules for a debate if nobody is going to bother to follow them kill the rules or give the moderator a kill switch. Both sides had things to sell i dont feel like either side effectively sold the things. In previous years, both sides. They said, wow if there are two more debates, maybe well get to that hope springs eternal that was the debate for 2020s that the kind of debate we deserve. It felt a little weird. We see crazy stuff he around the world. Like south korea when they started throwing shoes at each other. House of commons. They throw shoes and punches sometimes. We say, yeah, thats not us. They are a little more orderly of how they diss people. They do it more orderly and clap and everything i used to think that would never happen here. Probably not one of our high points a huge lineup today American Airlines ceo with us. Here to talk about the expected layoffs that may take place tomorrow if there is no stimulus by the government. Restaurant owner danny meyer on the reopening of new york restaurants. Check out this lineup. We have a lot to talk about and a lot of great guests to walk us through it later on, we have an interview with palantir Ceo Alex Karp marking the cnbcs delivering alpha conference including treasury secretary steven mnuchin, senator Elizabeth Warren and many more tonight marks the news with Shepard Smith hell join us with a preview of the show join us tonight at 7 00 p. M. First time out for the news with Shepard Smith. He has people there President Trump and former Vice President biden came out swinging in the first of three debates. Joining us now with the take away i just thought it was funny. You had a 43. Anyway well start out. Well have this all prepared who am i to discuss this genius. Well start with trump discussing the stock market. When the stock market goes up, that means jobs and 401 ks if you ever got in, i tell you what, youll lose half of the companies that poured in here will leave half of the companies they will leave and you will have a depression the likes of which youve never seen. Just take it away, frank. Ill play some sound bites here and there. Hot mess, Dumpster Fire, train wreck all converging i want to do this properly. It was described by my focus group last night as an s show, rhymes with hits and like Chris Wallace was the toilet paper trying to clean up the mess. Ive never had my phone blow up and participants were embarrassed on both sides. Everyone was embarrassed youve got a screenshot right there. Over a million hits. It only has been available to people for six hours the most watched video ive ever done it is powerful. They didnt get the policies they felt the candidates didnt behave like they deserve to be president. It makes them less likely to vote for any candidate we are going to have the biggest turn out ever. What happened last night actually encouraged people not to vote. Maybe the one positive were some good lines. Ive heard people say it was a clown show the clowns union complained they are registering a complaint that they are being unfairly tarred i have another sound bite. Former Vice President biden said about president , president , President Trumps plan for health care. We even bored the prompter operator he has no plan for health care of course we do please. He sends out Wishful Thinking he has executive orders that have no power. He hasnt lowered drug cost for anybody. Hes been promising a Health Care Plan since he got elected he has none like almost Everything Else he talks about he does not have a plan. Comments, frank moments before that, he told the president of the United States to shut up and i quote. Is that what we want in our replacement . It is one of the reasons why the public looked at that and said what is happening to our democracy. Both candidates behaved this way. I know you feel this way the expectation was that we were going to learn something what happened, they realized how well it can go i dont nose what will happen in debate two or three. One of moi focus groups has an interesting idea to give the moderator the ability to cut the sound or completely shut it off. To have the candidates and moderator talking over each other again and again is not beneficial how do you expect many he to make up my mind if you are going to behave like this. Lets keep showing some sound here things got testy quickly with President Trump constantly interrupting and Vice President biden dishing out some insults you are the worst president america has ever had come on. Nobody is doing that hes the racist. Will you shut up, man. It is hard to get any word in with this cloud. I hear there are already tshirts that say shut up, man from the biden camp. Where you are sitting depends on how you view this stuff. Where those are being made . China. It is not appropriate. When we asked them give me a word offer phrase to describe donald trump, it was negative. But it wasnt positive for biden either biden spoke about where is trumps Health Care Plan they want to know where bidens jobs plans are they wanted some specifics they got none of it. All they got was insults there were some questions that were not followed up on by Chris Wallace it was like. Okay, you are not going to answer move on. For the buildup. Look at the moderator, first of all. He interrupted the moderator who lost control of the debate despite his best efforts here we go you have promised to repeal and replace obama care but you have never in these four years come up with a plan of course i have. To replace obama care of course i have. Excuse me ive gotten rid of the money date sir let me ask my question. Ill ask joe. No. Mr. President , id like to we will protect people. Im the moderator of this debate i would like you to let me ask my question and then you can answer i could almost make the case that the catcha question should go to the incumbent. Hes got a record hes got to support. I do think a lot of gotcha questions went that way. To the challenger you cut them a little slack did you feel that way or not i saw that written in places im eager for people to go to youtube and type in my name and the l. A. Times, we did an hour session trying to understand what that final 6 of america is thinking in the swing states that point right there, the president should not be debating the moderator. The president should be debating the facts. The challenger should not be so insulting but should present a position every time joe looked into the camera, like i am right now, he was scoring points every time he was dragged into this, he was losing. The economy policy, after covid19, it is the biggest issue. What are you going to do to bring the jobsing back trump has a good point there in the end, style does matter as much as substance. You heard the point that was almost a talking point on twitter that there were more points added that he was trying to take it down from 6 to 3 . The moderator presented that as a fact and talking point so that any nuance to how that occurred was lost to Chris Wallace. I dont know did you see that there is nothing you could have done as a moderator you are a tough guy. You and i have gone back and forth before you could not have cleaned up that debate. Those candidates came there to fight and deliver. They came there not to talk about economic policy, which is what viewers of the show want, what undecided voters want give us the details and focus not on the stock market but on jobs there is nothing Chris Wallace could have done. In the end, he did try to clean it up. Ill tell you, for the next debate, we have to look forward, not backward these candidates will have a lot of pressure on them. The public will say do not do this again view to be a hard core trump person or hard core biden person to believe that this debate was a success. Thank you keep your phone open there is going to be another one of these two more feels like victory. Napalm, from napalm,. Love the smell ofnapalm in the morning. Andrew is here too i made it ive been hear the whole time. Ive been here. Unlike you to not have any comments you are shocked. Im in disbelieve you came up with another diss disbelieve i dont know if you heard that rant you can come up with a lot of disses with this i hear you when we come back, disney announcing it will layoff 28,000 workers. We have the details and the stock move after this break. All about the parks. Right now, check out shares of regeneron. The company said the trial date of the antibody cocktail improved levels and fighting the virus. The companys cofounder and president will join us in the 7 00 hour. Well be right back. Everyone wakes up every morning to a world that must keep turning. The world cant stop, so neither can we. Because the things we make, help make the world go round. They make it cleaner, healthier, and more connected. Its what we build that keeps things moving forward. So with every turn, well keep building a world that works. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save up to 400 a year on your wireless bill. With the carrier rated 1 in customer satisfaction. Call, click, or visit your local xfinity store today. Disney has announced it is laying off 28,000. The prolonged closures at theme parks and limited attendance most of the layoffs were of part time employees saying the companys problems were exacerbated by california not being willing to lift the issues that would keep them from opening. And nikola following allegations of fraud and sexual abuse against the companys founder. Executives at both Companies Expect to extend the talks the deal may be terminated by either side. Partnership would give gm an 11 stake of nikola producing the badger pickup truck. Accusing milton of make false statements of strategy to attract investors and more recently, there have been allegations of sexual nature against him as well. Lots to chew on and try to understand what comes next that deal not on or closing today well see what happens. That is something coming up. What happened today, well have a full run down of palantirs direct listing first, Contessa Brewer covering the opening of Indoor Dining in new york city today. What is coming up . The doors are getting thrown back open. It has only taken 6. 5 months before anyone heads out, you better call first. Why it is such a challenge thats coming up in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com promo welcome back Indoor Dining to return to new york city today. Contessa with us with more reporter good morning. More than six months since new York City Restaurants were forced to close. With infection above 1 for the first time in months, finally, they are able to welcome back diners restaurants are limited to 25 of occupancy in many parts of the neighborhoods, that means four tables they have changed the rules to allow Outdoor Dining through the winter and propane heaters. It will be a tough sell to get people to dine outside in the rain or snow 45 of restaurant workers are still laid off no wonder. For every dollar spent in the restaurant, the owner takes home three cents. 64 of restaurants think they are going belly up by the end of the year unless there is a comprehensive relief package from the government. Other big question, as you know, unfortunately, some of the covid rates in new york city are going up over 3 for the first time in quite some time. If that goes to a sevenday average, schools will close. What happens to restaurants in this plan . I talked to an outof work restaurant manager his restaurant bomb 45, the restaurant is not reopening during this period of 25 capacity i asked him, are you concerned about going back to work and being customer facing . He said absolutely i am but im also concerned about paying the rent is it your concern that theyll shut down the Indoor Dining again yes the mayor has said everything is on the table now everywhere else in new york state, once you saw infection rates down below 3 , you saw Indoor Dining. The mass of people concerned here the mayor and the governor, when he comes out and says we are going to levy fines on people not wearing masks. It has Restaurant Owners eye balling how long can we stay open if rates go up . Right a lot going on in new york city. There was an indoor wedding over the weekend. 300 People Police ended up breaking it up these are some of the issues confronting the city and the country. In the meantime, plans on reopening in new york city in interview. Up next, palantir set to begin trading today. Will be the biggest ipo or listing, if you will, of the year well have a break down of the companys listing. And well bring you the first on cnbc interview with Ceo Alex Karp well look at yesterdays s p 500 winners and losers back in a moment as business moves forward, were all changing the way things get done. Like how we redefine collaboration. How we come up with new ways to serve our customers. And deliver our products. But no matter how things change, one thing never will. You can rely on the people and the network of at t. To help keep your business connected. When disaster strikes to one, we all get together and support each other. Thats the nature of humanity. It has encouraged other people to take the time for each other. Good morning, everything we are watching u. S. Equity futures. Yesterday was a down day this morning, you see red arrows again. S p off by seven the Treasury Department said airlines could receive larger than expected loans after some carriers opted out Congress Approved 25 billion in loans. Some major care years like southwest and delta said they do not plan to take that money. Delta up size the the debt scale backed by the frequent flier program. The grants that they received prohibited them from cutting jobs until today without the protection, theyll be forced to cut thousands of jobs tomorrow morning. You can see the count down clock here you are talking thousands and thousands of jobs. It could be 100,000 employees that get furloughed as a result of the declining revenue and lack of help from the government at this point. It will be good. Apple ceo tim cook received his largest stock grant since 2011. Receiving another 324,000 units whether they meet or miss targets. Based on yesterdays closing price, the maximum they could receive that value rises or falls. Coming up, the high profile public debut and how the palantir become such a Silicon Valley darling and how micron Beat Estimates but warned that enter prize demand made be weak. It doesnt know they awhen it w able to sell to huawei squawk box is coming right back this is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. 20 associate cart pusher. Urly the different positions ive had taught me how to be there for others. I started out as a cashier. I mean, the skys the limit with walmart. Its all up to you. A livcustomizeper iquickbooks for me. Okay, youre all set up. Thanks that was my business gi, this ones casual. Get set up right with a live bookkeeper with intuit quickbooks. Welcome back to squawk box this morning palantir going public today. Saying the reference is 7. 25 a share with a valuation of 15. 7 billion. Palantir. Welcome to palantirs investor day led a alex karp perhaps the first ever to open its road show on a set of skis a highly secret analytics giant opening a new face backed by wall street investors. Named after a magical orb in lord of the rings palantir has massive contracts. This way of looking at the world will say your institution and in many ways save your life. In the first half of 2020, they tlidelivered halfy billionn revenue. Last year, they lost 588 million. The lurching forward is because we built a product five years before it was needed just like well do in the future their gotham program powers the u. S. Government. The navy and Homeland Security working with health and Human Services to help track the spread of coronavirus. It hasnt been an easy journey not only do these require a lot of up front capital. It is deeply we hadddded to hisk facing problems with groups and employees. Palantir has not backed off. Karp took aim saying, quote, our company was founded in Silicon Valley but we are sharing fewer and fewer of the outlooks and commitments. The missions to keep us safe have become controversial. Companies built on advertising dollars are common place theyve expanded in the private sector now accounting for 53 of customers serving big name businesses including airbus, merck, ferrari and united. If you think we are going to change our internal culture and work with regimes not allied with the u. S. And abusing human rights if you think that the future is going to be a super rosie place where the past ways of supplying software are going to work because enterprises and governments are not going to be reformed, you shouldnt vest in palantir we have a certain set of believes well stick with these you can catch my oneonone interview with alex karp later today. Well sit down to talk to him about all of the questions that people have about this company should it be valued as a Software Enterprise company . Should it be valued at a lower multiple that would look more like a consulting company. They have a large percent of clients. Twothirds of the revenue comes from about 20 of them. How should you value that . Well talk about that and more weve had a lot of provocative conversations with alex karp often times in the snowy treats of davos, switzerland. When we return, much more reaction from last nights debates. Well have the takeaways for investors and what it means for your money at the top of the hour, ceo from American Airlines and the flight attendants present. Stocks coming off their low of the morning. Squauchl returns in just a moment the difference is millionaires and billionaires like him in the middle of the covid crisis have done well. Theyve made over 3 billion because of his tax proposal and he only focused on the market. That was former Vice President joe biden at last nights debate our next guest says the first debate will position the president ial debate for the coming weeks with us is our guest dan cliff ton, partner at securities we talked to you yesterday ahead of the debate and said, look, there are certain ways the first debate sets up last night was anything but usual. Do you throw the rule book out at this point . It was definitely one of the most bizarre debates and out of the ordinary president s usually lose their first debate the bar was pret year low with joe biden. He exceeded that there was great risk for joe biden going into that. He managed to get through it trump really was never a good debated in 2016. I think much of that was on display. The point is that the average loss in the polls for a sitting president is about 2 after that first debate if thats the case, the president will have a tougher baseline to come back to over the next becky, president s get reelected when they govern well and make the other candidate more risky to the voters if we change course. And the president tried to do that yesterday but hes got a big challenge ahead of him to further solidify those types of arguments in the closing months of this campaign. Dan this, time around is so different not only because of how the debate played out the last time but because of covid and neither of them are campaigning like they would be in normal conditions does that mean more is riding on the debates or i mean you also got voting less than 40 days to election day. You got early voting and mail in voting starting already in several states so i dont know how to put this in context with anything weve ever seen before were definitely in unchartered territory. Youre right you got right to thats right of whats happening here. Is that usually president s do better in their second debate than their first debate. Those president s that have done better have gone on to get reelected but the next debate isnt until midoctober and mill the loans of voters are going to vote between now and then so that means that its less important this cycle than its been in previous cycles being the second debate. The first debate is much more important. Additionally the number of european decided voters are actually shrinking here. Thats why i think the president need some big event to happen to start changing the course of the race hes not as far off as the consensus believes but those challenges are getting much greater for him to close the gap here and the debate last night solidified the existing trend of this race and thats biden is leading and hes got a lead Strong Enough that he can probably hold on absent some big event happening. What are you talking about some big event i cant imagine anything that already hasnt happened this year 2020 has between year of the unexpected did you expect james comey to open up Hillary Clintons emails in late october two weeks before the election so were planning for no unknowns the president s tax returns was an unknown happening i anticipate there will be more events from an investment perspective market is now going to further price in a biden win until something changes here and thats happening in the most election sensitive stock like global energy, infrastructure, and then on the republican side you can see weakness in defense where some of these for profit stocks are in education companies. The market will put higher probability of biden winning after last nights debate. Do you think that will have an impact on the overall average . Were not looking at Much Movement today down about 46 point fs for the dow. You may look at sectors but do you think that has an impact on the overall markets . Do you think if the market continues to factor in a biden win youll see much different than what weve seen today i want to make clear elections are about sectors and election sensitive stocks. The Overall Index doe get nervous as you go into an election and historically when the Opposition Party wins regardless of party you do see an equity market selloff into the election and usually you wait until after the first debate before you start seeing that equity market selloff if the incumbent party will start to lose theres a little bit of a risk off. Last nights debate showed why thats happened. Are you going to raise taxes immediately or just do a large fiscal policy. Generally investors take some risk off going into that i think interestingly what were seeing is a big pick up in merger activity and that is that companies are saying maybe our taxes will go up and the antitrust review will be more stricter you can see some positive developments in the election as well overall s p should be impacted if you see the Opposition Party start to win over the next 30 days or so very quickly. I need a quick answer on this. If you think the likelihood well see more unexpected crazy events and we dont know which side that will exact what do you do with your money how do you play that in market go with the existing trends right now and theres no way forecast these type of events. This is a transformational election we have a pandemic, mass protests and a president ial election happening at once thats never happened before thats the cherry on top cherry on top i dont know whats underneath dan, thank you very much good to see you. When we come back, much more reaction to last nights debates. Well hear from shepherd smith this is all coming ahead of the premier of his new cnbc program thats on tonight. Bone johnson will join us with his take on the debate and election issues that matter the most to your money u. S. Stock futures this morning well off the lows. Right now the dow indicated down by about 50 points s p futures down 3. 5 nasdaq down by 26. Squawk box will be right back. , even if their shares cost more. At 5 a slice, you could own Ten Companies for 50 instead of paying thousands. All Commission Free online. Schwab stock slices an easy way to start investing or to give the gift of stock ownership. Schwab. Own your tomorrow. Schwab. Keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com promo stocks losing streak set to continue with futures suggesting a lower facebook for september. We get the latest on whats moving the market straight ahead. It is deadline day for u. S. Airlines roughly 40,000 industry workers whose jobs hang in the balance American AirlinesCeo Doug Parker and sara nelson of the Association Much flight attendants will join us to talk to us about the implications for the sector the news with shepherd smith will join us with reaction and takeaways. Second hour of squawk box begins right now good morning and welcome back to box right here on c the nbc. Im Andrew Ross Sorkin along with becky quick and concern ta joe kernen. Look at u. S. Equity futures. Dow off about 70 points. Nasdaq off 33 points s p 500 off about six points for now, joe yeah. I dont know nothing much going on. Take the disney news and like we were talking about earlier 3 new york city. Isnt that weird were opening restaurants because were back to 3 . Its not in manhattan, really at this point but no reason to think it couldnt be i dont know its 2020. The countdown is on now for the Airline Industry tens of thousands of workers face furloughs on october 1st. If you remember september 30th, this is a 30 day month anyway, bhoulets welcome in doh parker and sara nelson thanks for joining us. Doug, ill start with you. Tomorrow is the 1st. What is going to happen and what are your plans to deal with it well, some time today were highly hopeful something can happen absent any action today we, unfortunately, are choosing to have hundred thousand or more not elm employed because the Payroll Program that was put in place through c. A. R. E. S. I expires. It was a Six Month Program the airlines were funded to pass through payroll to our people to keep them employed that goes away theres enormous bipartisan support extend the program just havent been able to get a vehicle in order to get passed which is highly unfortunate bust still a lot going on today were working to make sure that does happen and i hope well get something done today doug, let me ask you what is, on the other side of this, even if, when we do get back to more normalcy what do you think the right size actually is for the Airline Industry out of that 100,000 youre talking about there must be some that just arent economically feasible for the long term. For long term certainly not for today. Were off line, you know, 50 or less of our scheduled airline because demand is even much lower than that. Revenues are much lower than that things like the Great Recession where demand is down 10 , 15 could be the case next year or a two year basis thats the level of demand on which we pilot our airlines. We just make less money. Again, i happen to believe six month extension is what is need and six months from now well be flying to close or getting ready to you really do view it as a bridge at this point if theres no aid forthcoming, doug, we made the point in the past and its been aid that airlines have a lot of options in terms of assets that they have and ability to raise money on your own. Do you have plans for that contingency plan weve already done it this isnt about raising funds for the airlines, this is about keeping the structure in place by us being paid to pass on to our team members otherwise we dont have work for. Keep them in place as the economy rebounds were here to provide that industry. American, again, we all have a lot of debt and through diluting our shareholders more than such enamou sufficient amount of cash so we can be here to provide service to small communities and provide employment for our team members they are not taken off payroll. In the Airline Business its hard to get people like pilots out of training to get them back up in training everybody understands that thats why we have strong bipartisan support its about keeping that infrastructure in place. Sara, its a tough day. I know youre hearing from a lot of associates, just not sure how to go forward, especially unless something is forthcoming as doug said this is a really big day. And we expect action from congress in fact theres a lot of hopeful signs about that as doug said we have enormous bipartisan support for this program and the reason why its shown to be the most successful jobs program of coronavirus leave. Not only does it provide this Critical Infrastructure for our entire country with continued service for every community but if we did not have this jobs program we would have people on the unemployment line and thats a much more expensive endeavor people not paying into the economy, not paying their taxes, not able to care for themselves in middle of a pandemic. We need as many people strong as possible what that means is real people people i represent someone said to me yesterday we have many of these people who are both parents are Airline Employees and they said to me our 6yearold child asks us every single day do we have a job or not today they ask will they get a christmas present. These are people who cant pay the rent or take care of themselves this jobs program is an efficient use of the taxpayer money. Were down 60 this is not weatherable where the airlines did not get a bail out during the Great Recession were able to weather that were able to weather that downturn this is not what this is this is a bridge to a day when we can recover doug and sara, im probably a broken record on this issue. You both know i desperately want to help the employees of the airlines very much so. Perhaps maybe more than i espoused before. But as i always ask the question is can i help the employees of the airlines and can i help the airlines as a taxpayer stay in business but also not necessarily help the shareholders of the airlines or if im going to help the shareholders of the airlines can the taxpayer effectively become one. Shouldnt the shareholder be diluted. Can you speak to that issue, doug, because i dont think we talked about this on air directly together. Certainly, andrew, i will again, as opposed to things like, as youre well aware, the banking crisis and the bail out of the banks, this is not what this is. This program, again, started by Union Leaders like sara and others because its just that. A jobs program as opposed to a bail out for airlines or the industry this program is built to keep infrastructure in place. To do that, the Airlines Need to be compelled to do uneconomic things to do things to keep like more people employed than we have jobs for right now we keep them employed now so they dont get out of training to serve markets that there isnt sufficient demand to be served today but we dont serve markets where we can help the economy rebound. Thats what this is. The way our shareholders pay for that by even greater losses than we would have otherwise, were being punished for that. Were doing things and our shareholders are paying for them that wouldnt to be done otherwise to keep the infrastructure in place. Thats how our shareholder and, again, on top of that if there is an upside, there are warrants here in case our shalds c shareholders accrue more than is required our shareholders pay through greater losses because were going keep in place flights that are uneconomic keep in place employees that we dont have work for so they are here when we come out of it. I know its a different policy than people are used to. Ate great policy working well as sara said and so far thats why everyone believes it should stay in place. Thats how our shareholders are paying the taxpayers are compensated for this doug, this is not a bail out. This is not a bail out its a jobs program. This is very different this is not like the airlines made bad decisions and in bad place and now they need to be bailed out so the rest of the economy doesnt collapse this is a jobs program im a taxpayer too every Airline Employee is a taxpayer too so we are directly paying back into the system and that is the return to the public the return to the public is keeping us in our jobs and not having to care for us in some other way because we wont be able to care for ourselves because theres nowhere else to go this is the most successful jobs program. I want to remind your viewers what this is this can only go pay and benefits of employees. It requires to involuntary furloughs. Keep people in their jobs and connected to their health care and requires a cap on executive compensation no stock buy backs or dividends and they have to payback in a loan 30 of that thats also backed by warrants this is not a bail out it is an infrastructure and jobs program and it is the best use of the publics money 100 return to the public and to the taxpayers of which we are one of them doug, can i just ask you, you said that you think six months from now demand will be back and be back in a very similar fashion to what we saw before the pandemic if you ask most airline analysts they will tell you they dont see the prepandemic demand returning for years at this point potentially. What makes you think six months from now youll be able to be at those demand levels and employing all these people if i said that i didnt mean to what i said was we dont expect demand to be all the way back but weve seen gradual improvement in demand. Our numbers were down 85 in Second Quarter 65 in the Third Quarter enormous drop. The theres gradual improvement. We dont need to get back to 100 in times like the Great Recession where we saw demand drop, that still is a level of demand that has us flying our airplanes. These severe drops of 50 , 60 is not fine. What i believe is six month extension that gets us to where were burkheaded into the summer period where hopefully the virus has dissipated or things like quarantines and its a matter o getting the employees that are still a part of the Airline Industry that we dont have work for today employed six months from now well be in a good position go ahead. Were going to bridge to another place where people are six months closer to being able to qualify for medicare and retirement and youll have normal progression of people who can have other openings as other Industries Open up and go to other jobs too right now we have no options we need this bridge and we need congress to act today. Both doug and i agree that can absolutely happen today. Every sign is that this will happen today and we will make sure that these Airline Employees stay in their jobs doug, real quick. Would you be willing to accept money from the government if there was a more arrangement for shareholders looking at some of the simple math and this is coming by email to me as were doing this, 25 billion and we talked about this being a payroll support, 25 billion divided by 35,000 furloughs coming in october, 714,000 per job and cover six months of continued employment so when people are doing the math they are starting to think to themselves a, is it all going to the employees thats one part are of it and b, would you accept an arrangement where the taxpayer received more and wouldnt that be appropriate the math is wrong you just cant look the at the furlough numbers wi weve put people on leave that people who are not being paid, putting them on leave so they can keep their benefits, they have chosen to do that instead of taking furlough the numbers is hundreds of thousands of people. We at American Airlines have 40,000 people. That are still employed by American Airlines would wont be working on october 1st other airlines have done things like just cut everyones pay, everyones pay will be cut by 20 on october 1st so those numbers just you cant look at the furlough so the result is yes, we are incurring much larger cost than just the cost of the furlough number and were serving markets we wouldnt serve otherwise and have agreed to do it for six months things could get much worse but our commitment remains in place. So the government is being fully compensated for what they are providing to the airline and the shareholders are incurring the cost again, no one is asking if this is what was done before whereby the government calculated calculated 70 payback to them 30 repaid theres 10 of the loan on top of that. Keeps people in their health care during a pandemic thanks guys. We appreciate this thank you doug parker appreciate it. Good luck. See you soon thanks, joe. When we come back the latest read on Mortgage Application dont forget tongiht right here on cnbc the news with Shepard Smith makes its debut. Well speak about last nights debate debacle and much more looks like the dow is to open down by 77 points. S p futures f of6. 5, nasdaq down by 34. Squawk box will be right back. Welcome back to squawk box im diana oleck with breaking news despite another record low Interest RatesMortgage Rate volume dropped 5 for week according to the Mortgage Bankers association. It fell to 3. 05 from 3. 1 for loans with 20 down. The rate was around 4 this same week one year ago. Applications to refinance a home loan which are usually sensitive to weekly rate moves still fell 7 for week although 52 higher compared with the same week one year ago that drop may be because refi rates are not falling as much as rates for home purchase loans. New loan fees are coming in december Mortgage Applications to purchase a home fell 2 for week and 22 higher than the same week one year ago. Thats a slightly smaller annual gain than the previous week. Demand for housing thats been strong in recent months but prices are heating up. Most of the demand is on the high end where theres more supply and why the average loan balance is close to an all time high before we let you go were coming, of course, into october, traditionally a slow season for house. Is the slight pull back in purchase application as sign this unusually late housing boom is starting to school . You know, weve seen it now for two weeks in a row that slow pull back in the week to week in purchase application still higher than a week ago its all about supply. We saw more supply come on the market over the summer but it heated up quickly. If people dont put their houses on for sale this fall it will be strong but not usually when people list. All right. Coming up, regeneron, shares are up joe did it reduce viral levels and improve symptoms details after the break. Announcer time now for todays aflac trivia question. According to this university, its the most plapied to in nation which is it. The answer when squawk box continues. With unexpected medical bills. And is Aflac Health Insurance . No, but it can help with expenses Health Insurance doesnt cover thats right. Are there any questions . Coach yes . Can i get one of those cool blue blazers . You know i cant play favorites. Alright lets talk coverage. Its go time get help with expenses Health Insurance doesnt cover. Mmm hmm get to know us at aflac. Com now the answer to todays aflac industry a question. According to its website, this university is the most applied to in nation which is it . The answer, ucla pretty nice out there. Thats for sure. Except the traffic regeneron announcing its experimental two antibody cocktail reduce viral levels and improves symptoms in nonhospitalized patients with holiday to moderate covid19 cnbc meg terrell joins us now with more. Fill us in, meg. Please reporter good morning, joe these are the first results were seeing on regenerons new drug to treat covid19 and of course this is the first class of drugs designed specifically for the novel coronavirus. This is two antibodies that regeneron put together one it deprived a survivor of covid19 and. Another it made in its labs. What they found in this initial look at 275 patients who were not hospitalized but do have covid19 was it did reduce the viral load and they have sped up the time to recover from symptoms now these are small numbers and early look they said also it could have cut down on hospital visits but because the trial was, didnt have large numbers of people in that group its hard to deduce exactly the strength of that effect now they said it does look safe and one interesting thing they looked at here is whether people had mounted their own. Immune response to the virus by the time they got this treatment. For the people who didnt mount their immune response this was helpful for them so that might be a way of strsts ifying this. They are running trials in hospitalized patients and using this as a preventable treatment for people who live with those diagnosed with covid19. Regeneron said it will talk with regulators about this data potentially exploring emergency use authorization. Most analysts saying the data looks positive very early to consider any kind of regulatory clearance but were in a pandemic. These are not normal times guys did you have some comments on that moderna news that was out yesterday, meg reporter yes new englanew england journal o medicine looked at older participants weve seen these data at the end of august. They presented them in a cdc briefing we knew that the vaccine appeared to indues the same immune response in older people as younger people which is very good news. In flu shots for example you need to give a high dose flu vaccine often for older folks because the immune response isnt as strong. It bodes well for these studies and were waiting to see the results from phase three of moderna and others back to regeneron and antibody cocktail. Youre right if there are limited quantities of this stuff theres lots of different poem uses for it. Who will get prioritized hospital people. People who are not yet hospitalized preventative measures for People Living with covid. What do you think . Reporter its such a good question, becky. Well have to see how much data and in which populations is available by the time this gets cleared. You know, usually drugs are used in populations that they have been tested in but, this is a pandemic and, of course, there could be emergency situations where you want to use it for people who are more severe so were going to have to see how thatworks itself out yesterday on a call with investors media regenerons executives were saying Society Needs to figure out how to use these drugs. So well have to see what the data show as these trials read out and when the fda gives the green light. Meg, thanks so much. Well see you again very soon. Up next well get reaction to last nights debate from shepard mith, host cnbcs new program. Ill start things with Steven Mnuchkin at 9 05 this morning with a discussion about the u. S. Economic recovery. Additional stimulus, whether its important, will there be a carve out for the airlines lots of questions that we have for him. Some additional guests on the program today, steve schwartzman. Mary calhan, carla harris and many more. There is still time to register for isth event squawk box will be right back. One day well look back and remember the moment that things, for one strange time in our lives, got very quiet. Some lost work and invented new ways to get by. Others were busier than ever, and found strength they never knew they had. We sheltered with the people who matter most, sometimes finding how far apart wed drifted. We worried over loved ones, over money, over our planet. And over takeout. And we found a voice one the noise out there had kept quiet. When the world starts spinning again, lets remember this time where none of us felt secure, and fight for a future where everyone can. Because when the world seems like its standing still. Thats the perfect time for us to change it. Welcome back we did have tripledigit losses on the dow nasdaq down 31, 32 points, s p down six and change and that comes after what was a pretty good session on monday followed by a bit of a pull back yesterday. But well see. Last dave september. October is coming whether we like it or not we like it its good. Then comes november lots to talk about between now and then right the news with Shepard Smith debuts tonight at 7 00 p. M. Eastern time right here on cnbc. The nightly news program will provide deep nonpartisan coverage on the days most important stories. Joining us right now is Shepard Smith himself. Thank you for being here great to see you welcome. I havent had a chance to welcome you in person. Were thrilled to have you here tonight and excited about tonights start. Coming sheeran amazing experience already and bringing together some fantastic journalists to try to come together with a mission that we have been working on for years and that is bring the facts, the truth and the news without telling you how to think about things and without pundits. And were launching on a challenging and i think historic day where the president has said that hes refused to say that he will accept the outcome of the election necessarily with some caveats. Where he told a White Supremacist Group to stand by and get ready to stand up. And where the Vice President and his opponent called him a clown and a liar and where there were a flood of misinformation and, becky, frankly, a debate the likes of which the United States has never seen there has never been an event of that nature in this nation and now we have to figure out are we prepared with checks and balances to make sure that whatever the people decide either way that the will of the people is done, that we can be sure its been done. So well lean on historians. Well lean on the fbi to tell us about who these groups are, who have been told to stand by and get ready to stand up. Well try to take a look at where we are and where were going on what i really believe is a historic day for the democracy. Challenging. Theres a column in the New York Times today just saying that, you know, he grew up reporting starting out with the civil war in libya and watched a lot of things happen that he didnt think could happen. What do you think youll be taking on this tonight in terms of how you look back at todays events and how you put it in context. Well, i think if we were doing a 7 00 a. M. Newscast i know what we would do. We would go through what was said last night. We would give explanations to the degree possible for the groups and people who were discussed. The issues that are before us. Racial injustice, income in equality, the challenges of covid, the list is long. But were 12 hours away. And with recent history as our guide a lot will happen between now and then will republicans come forward to stand by the president in all that he said last night or will republicans and their leaders do Something Different . Will the president come out and denounce White Supremacists and confirm to the nation that he doesnt want them to stand by, to stand up, and what will democrats do to try combat the things that happened last night. We dont know what the day brings we had a great plan, becky we planned to come out Breonna Taylor transcripts will be released today. There are fires in the west that are historic in and of themselves and lives are uprooted we have covid surging in areas of the country including places that have been hit before like new york city but in the heartland across the midwest we had Indoor Dining starting in new york tonight we have cools that are now under way. We have historic challenges in multiple buckets and it is very, very difficult to wrap your head around it. As an american, and its difficult to wrap your hands around it as a News Organization but that is our challenge. And when people wonder why is everything opinion, why are people just yelling at each other about everything, its a reflection of who we have become that i think was the most disappointing part of last night. We spoke with frank luntz earlier who was look at focus groups of undecided voters lets say 15 maybe more of the voters in this country who went to the debate last night looking for answers, looking for policy solutions, certainly not what they got it lacked civility interesting you said that our plan you plan for everything you try to we did not plan for what came. We planned to have bidens take on policies towards a number of issues covid, governance, you know Racial Injustice, Election Security and then the president s take on all of those things to put them backtoback with different policy and procedure information and then we have polling that will be debuting tonight as well to give us an idea of how the people thought about it but thats not what the debate became becky, i know Chris Wallace for decades. He was prepared for a debate he was not prepared for what came last night. None of us were. We had that discussion earlier this morning look having lived through some of these debates in the past, if youre going to have debate rules, you need to change the rules to accommodate whats been happening in the debates or give the moderator the ability to cut off the microphones or something because what we watched last night was a twitter fest, watching the worst of twitter. True. Thats a process and thats future and thats a very worthwhile discussion. But that doesnt ignore but puts to the side where we are at this moment it is unquestionable that both side will say we need to come together as a nation because if we dont come together were not going to be able to solve our big problems history is our guide if everybody cant come together and say heres our plan of attack on covid so our people. Stop dying heres our economic plan so that our economy can thrive heres how were going to attack Racial Injustice and social unrest heres how were going to attack Climate Change and the way its affecting all of us, whether we want to believe whether its coming from one place or another. All of these issues must be attacked and we cannot attack them and cannot solve problems until we all come together on this theres universal agreement. So maybe there was hope that last night might be a way to come together. We can say this one wants to take us in this direction, this one wants to take us in this direction. Which direction do we like better that would help us put together in our minds who is best for us given our world view and what we want to our communities and families and churches. Here is who is best for me last nights debate did not give us very many policy answers at all. It gave us a fight and it gave us more of a fight and were not closer together. And without getting into opinion because thats not what were going to do tonight its not what both sides say they want and its not where we are. I will say how that plays out in a very real level, americans lives and how it will impact the economy. Weve been talking about that this morning theres the airlines question. Will there be a package put together for the airlines by tomorrow youre facing a huge deadline with this anywhere 38,000 to 100,000 employees knowing they will be laid off, they will lose their jobs if theres not some plan put forth to come up with some kind of comprehensive care. Both sides say they agree with this this else seems to be a bipartisan issue but even this cant make its way through washington ive been working for the last month on an hour long documentary which will air on cnbc coming up it centers around airports and Airline Industry its what 5 of gdp. And there are tens of thousands of people who dont know what tomorrow i taught to flight attendants, pilot, ramp workers, store workers inside airports. The work has been exhaustive dozens and dozens and dozens of people in this building have been working on it every individual, tens of thousands are trying to figure out different plans about how they are going to survive. But the one overarching known is if there is not you would call it stimulus, i call it disaster relief. If theres not disaster relief, people are not going to be able to pay their rent, they are not going to be able to buy their medicine, they are not going to be able to take care of their children if theres not a safety net. Both sides agree on this nonpartisan. Because were so divided we cant come up with a way if we lose that sector and airlines go under its not about a business, its not about a statistic, its about a cab driver i met from queens who came to america, who lives with his wife and his two children in same apartment in queens with his brother, his wife and their two children one of them died of covid. The cab driver continues to work and did so through, no passengers and no money coming and after all these months in a neighborhood in queens that was ravaged like few in america, his message to me after an hour long interview was, ive come to an america where i want to seek the American Dream and i have not lost hope. I will work. I have worked. My family works. Six of us or eight of us live in an apartment, a two bedroom apartment. Less than 1,000 square feet in queens and were trying to stay safe and figure out how to pay the bills. We will get relief america will not let us down we will find the American Dream. He goes we just need a little bit of help. Im working myself to death. We just need help. Smiles from ear to ear im in America America will provide this for me and ill serve america with every deed those people cannot be lost. And. Both sides know it we need solutions immediately. And in long term or both sides agree that democracy is in trouble. I look forward to that documentary. Its that kind of hope, that sort of spirit that we are all grateful for and thank you for being here its really great to see you nice to finally meet you and joe and andrew joe and andrew are a microcosm they come from different world views. You fight it out joe and andrew agree america is an idea and america, we dont we lift up and we give opportunity, right joe and andrew theres room to agree on these matters and if we dont come together we see whats going to happen we saw last night how we dont want to be, right, andrew . I think we can disagree but not be disagreeable. We as people who have the honor and privilege of a platform, i believe, have a responsibility to set a tone, all of us. Politicians and people on cnbc and every where else we have to agree to disagree with civility. I was going to joke around with you a little bit but we got so serious i decided not to. You can joke too. You know how lucky you are that youll get xfinity now . I dont know where you live. I was going ask you what do you watch now . I mean youre watching your old colleagues do you watch squawk box and cnbc all day long . I watch home edit two funny women go into closets and clea them out i want gives me order and structure. I read everything. I watch it all i kind of avoid opinion programming because im not in the opinion business i really want to bring facts so people can decide for themselves thats what ive always done it has never been more challenging. Sit down for an hour and find the facts of interest, distill them, give them context and perspective so that people can work with those facts in their lives. Its a challenging endeavor. I have dozens of people upstairs right now that woke up at 4 00 this morning how are we going present this how do we distill this that were helpful. Everything in america is a level of challenge that i dont remember we got to get it together. One of the things i love is that you dont come from new york no. Or los angeles originally and you want to make sure we understand whats happening and the rest of the country, i love you want to focus more on the wildfires that i just dont think weve given enough attention to we havent and we will. Heres wine country. Because thats what you recognize. These are families who dont have anywhere to go. If they go shelters they are dealing with covid covid is spreading anyone who says oh we found a good place, we have it the scientists are clear this will be an enormous challenge in the weeks ahead. You know likelihood of shut downs and separation and trying avoid giving to your grandparents, we dont want to kill off the elderly were nowhere near herd immunity the latest from the scientists is 90 of everyone in country, 90 , thats almost 300 Million People are still susceptible to this disease the number of challenges before us at this moment is unprecedented in our life times. The first thing we have to do is come together, the left and right, the small communities, the big cities, the west coast, the east coast, the Southern Tier and up on the Canadian Border we all have to come together and say we need solutions and we need to start agreeing or were going to look back, history will reflect horribly on all of us. Just remembering in these difficult times that everybody has things that they are dealing with at home that you dont know about. Nope. You can at least be civil to each other andrew, did someone muzzle you . You know, they are always muzzling me but were trying to give the facts and i care about the facts that youre going to present tonight. Im excited to watch the broadcast. Wait, this is you muzzled the last few months . You muzzled . Oh, man. As you know, i only do the facts too. But well watch this evening wow well get there in the eye of the beholder. Well try our best. Good luck, america, we love you. We do were really looking forward to this tonight thank you for being here this morning and well be watching tonight. Thats tonight at 7 00 p. M. Eastern time this is the debut of the news with Shepard Smith right here on cnbc okay lot more to come this morning. When we return gm extending talks on its deal with nikla we got details right after the break. Here are the futures take a look at where we are this morning. Its been a bit of a wild ride p 0 points off on the dow. S 50off about 10 points. Back in a moment sales are down from last quarter but we are hoping things will pick up by q3. Yeah. Uh. Boss doug . Sorry about that. Umm. What. Its. Um. Boss you alright . [sigh] [ding] never settle with power e trade. It has powerful, easytouse tools to help you find opportunities, 24 7 support when you need answers plus some of the lowest options and futures Contract Prices around. Dont get mad. Get e trade and start trading today. Executives at gm and nikla are expected to extend their talks amid Sexual Assault allegations against the founder of nikla and former executive of the company str reporter the discussion between nikla and General Motors center around the deal they agreed to back in the early part of september, september 8th was the date this is separate from whats going on with the revelations or allegations that have come out against trevor milton. Weve talked with executives of both General Motors and nikla who said were unlikely to reach a deal by the target date which is today however it doesnt mean the deal is dead. They will continue discussions today likely in the days to come and see if they can work out a modification to the agreement that came out on september 8th here was the agreement between General Motors and nikola. General motors is to take an 11 stake in nikola. Its lower now with nikola under pressure gm will provide Ev Technology and Hydrogen Fuel cells and gm will build badger pickup truck this is about size and scale not paying any money its worth 2 billion. The semitruck is at the heart of the controversy a research came out with a report that said that truck wasnt propelling itself it was going down a hill. One. Of several revelations that came out and as a result they are going looking at this deal again. Take a look at shares of nikola. Keep in mind that 11 stake that gm has thats worth far less with this stock down more than 65 over the last couple of weeks. Well stand by, guys, but we know that the talks will continue the deadline that was set for today thats not going to be highly unlikely it will be met phil, we just had doug parker and sara i heard it. They are holding out hope for something today. What are you hearing reporter well, i know they are holding out hope as are other airline executives, Union Leaders. Look the bottom line comes down washington washington cant get its act together on a stimulus package, nothing will happen. Im not trying to be cold about that thats just the reality thats facing the Airline Industry. And while everybody agrees and theres bipartisan support for this, im not real optimistic from talk with eamon javers, nobody gives us any sense these two sides and im talking about the republicans and democrats in white house, that theres no sense that they will come together all right thanks, phil reporter you bet well be watching andrew okay meantime new York City Restaurants can officially open for Indoor Dining. It happens today capped at 25 capacity Union Square Hospitality group is one of those ready to welcome customers indoor and part nearing with clear to help keep their employees healthy. Joining me is danny myer and karen bekker thank you both for joining us. Danny lets talk about this decision to open up what it means, what the costs are involved, and i say this against the backdrop of, as you know, covid cases increasing in new york city and how concerned you are about that well, of course were concerned about it, andrew were excited. Weve been serving outdoor on the sidewalk for many, many weeks right now in three of our restaurants. And with those restaurants and those restaurants only were now going to be opening at the stipulated 25 Indoor Dining, and we want to do it in the safest possible way. We were really excited to partner with clear on what i think is a really cuttingedge way to assure our employees primarily that its safe to come back to work karen, explain how it works because i know youre working with danny but also starting to work with other businesses on a similar program. Thank you, andrew were thrilled to be partnered with danny and as a new York Based Company we had a deep understanding at this moment that our technology could make experiences saferer and easier and i think dan and i are bonded in hospitality with the simple download of an app one Time Enrollment you link your identity to your Health Insights whether that be a quiz, whether that be lab results or ultimately a vaccine, and then thermal scanning at the same time upon entry. Just to be clear here, potentially could involve testing but at this moment at least danny for your own employees its testing of temperatures and the like but not necessarily testing, is it correct this is so far not testing. Clear is not the agent of the testing. But what clear does is it identifies that its you, youve done that probably millions of times at the airport, all of your viewers here. And now that we know that its you what were also able to do is to store information that relies upon your inputting your very, very good health and also helps making sure that employees know that were vigilante about this every single day. Karen, i know youre working with danny i know you are trying to work with other companies on this as well how widespread do you think this business can be for you and also how is it affecting you given that the Airline Business is as challenged as it is. So, extraordinarily widespread i think clear was born after 9 11 when airports were shutdown airports while volumes have been down have remain open but after covid Everything Else have been shutdown from universities to sports to entertainment to venues to Office Buildings the opportunity to enroll once and use it in so many different places bringing back the living of new york city and accessibility is really powerful and so this is a real moment for identity and identity based solutions to drive Health Related insights and better experiences. Okay. Karen, dan, i wish we had more time to talk about all of this danny i wish you lots of luck opening up in city and opening up indoors i know youre opened outdoors and i hope this is all success were crossing our fingers for both of you. Same to you its the new hospitality yes, it is. Thanks guys. Becky, over to you thanks, andrew when we come back, bob johnson, rlj founder anpl sd usecond read on Second Quarter gdp. Squawk box will be right back. Everyone wakes up every morning to a world that must keep turning. The world cant stop, so neither can we. Because the things we make, help make the world go round. They make it cleaner, healthier, and more connected. Its what we build that keeps things moving forward. So with every turn, well keep building a world that works. A good education takes you many different horizons and that sticked to my mind. So, when 1 a day came out, i said, why not . Why not just utilize that resource. And walmart made that path open for me. Without the 1 a day program, i definitely dont think id be in school right now. Each week for me in school is just an accomplishment. I feel proud every step of the way. Good morning disorderly debate. Im the moderator of this debate and i would like you to let me ask my question shouting and name calling at a president ial debate unlike any weve ever seen, but we did hear some stark differences in President Trumps and former Vice President bidens economic plans. Uncertain markets following that debate dow futures have been down more than 200 points this morning were currently off those lows and disney cutting 28,000 jobs and Major Airlines getting ready to furlough thousands more all as were about to get new adp payroll data final day of the month and final day of the Third Quarter and final hour of squawk box begins right now. It all seemed so final youre right a lot of final, final things happening. Good morning and welcome to squawk box here on cnbc. Im joe kernen along with becky quick and Andrew Ross Sorkin u. S. Equity futures we just talked about them and they were actually, as we sat down 200 and a couple of seconds ago now less than triple digits. But weve been somewhere between minus 200 on the dow i guess minus 60, 70 nasdaq indicated down and the s p off about ten. I guess were still a little bit for the week after mondays big gains, a little bit of a setback yesterday. The first month, you know, since march when we hit those lows where the market has not been able to advance unless we get a good rebound today becky, what chaotic, petty, exhausting is that squawk box no that too. Those are just a few of the word that have been tossed around to describe what we saw last night at the first debate between President Donald Trump and former Vice President joe biden. Through it all the shouting and name calling we got a few policy differs. You had to listen closely to catch them eamon javers was listening and caught them and he joins us now. Reporter good morning. You did have to list enclosely to hear any policy in that debate last night. It was vicious, nasty, tribal and a reflection of americas political mood right now the two candidates simply talking over each other hurling insults at each other, refusing to abide by the rules. Well see if theres another debate two more debates are scheduled after this this moment last night gives you a sense how angry the evening was. Take a listen. Your the worst president america has ever had, come on. Let me just say, joe, identify done more in 47 months, ive done more than you have done in 47 years, joe. Reporter then there was a moment where the moderator Chris Wallace of fox news tried bring the discussion around to the Supreme Court and then this happened vote and let your senators know how strongly you feel let, vote now. Make sure you, in fact, let people know, your senators im not going to answer the question why wont you answer the question the question is radical left. Shut up, man. Reporter so joe biden saying to the president will you shut up, man. That sort of encompasses what we saw last night you can tease out some policy difference particularly on health care where joe biden suggested donald trump had four years to come with a plan to replace obamacare and hasnt dont. The president suggest joe biden is soft on law and order and wont say law and order because hell lose his radical base. This was a shout fest. This is where we are in this moment in american politics. Talk about how markets and investors try to interpret these things i think were in entirely unchartered history in america weve never seen Something Like this at least in the past century in American History and as investors look at this its not about teasing out what they said about taxes, health care, regulations, although some of those things got mentioned its more about the overall the tenor of the country and whether well have a contested election and what the mood of the streets will be in the wake of this election with the level of emotion as ratcheted up as it is right now. I think thats one of the factors that investors will have to look at as they analyze what does it mean for markets its not about policy. Back to you. Douglaslincoln debates these were not thank you. You bet for reaction to last nights debate and whats the final shot of the stimulus plan well bring in bob johnson, founder and chairman of Rlj Companies and a cnbc contributor and founder of Black Entertainment Television bob, as a Business Leader what did you takeaway from those debates last night becky, i cant tell you who won but i can tell you who lost and that was the American People this was like a schoolyard fight over who has the best looking girlfriend it was a waste of an hour and a half that gave no guidance, no direction at all as to where the country will go after this election but having summed it up in that language, where i come out as a businessman, i will take the devil i know over the devil i dont know any time of the week. And that seems to be what Business People are confronting today. So youre endorsing trump, President Trump . Im not endorsing anybody what im saying is, if i, as a business person, what you want more than anything else, particularly coming out of something as horrible as this pandemic and not only the u. S. Economy but Global Economy the more you know who will be pulling the levers of economic growth, economic development, tax, stimulus, regulation, in my opinion youre better off dealing with somebody you know where they are going to be than somebody you really had no idea what decisions they will make at such a critical time youre saying that you would stick with President Trump rather than vote for someone to come in and change office because you dont know what biden would do at this point i absolutely do not know what Vice President biden will do i havent heard anything coherent out of what he said he will do. It was, to me, what i had hoped he would do would be a reasonable, relaxed, you know balance, if you will, in a debate where you would talk about specific policies. Particularly as it impacts black americans. We vote consistently 90 plus percent for the democrats. But if we dont get clear and concise direction as to what the benefit of changing fortunes at this time, then, again, im speaking as a business person. I would rather know what im going to deal with in the white house, im going to know what regulatory decisions they will make, what fiscal policy decisions, what Monetary Policy decisions they will make than taking a chance, particularly with the turbulence of a pandemic you cant you cant afford bob, can you grade the president S Performance during this pandemic in terms of, you know, you said you want to go with what you know are you pleased with the president S Performance during this pandemic . The way i look at performance of any executive whether that executive is the political executive or a Business Executive is how do you handle trade off. Life is full of trade offs there are decisions you got to make to deal with the implications of a, and decision to make with implications of b and so if you have to make those decisions, in this case pandemic safety, economy, growth. Those are tradeoffs. Clear and concise tradeoffs. Right now as i said, i know what President Trump has done and what he said hell do. I dont know what Vice President biden has said hell do other than listen to the scientists. Well in life its not that simple particularly when you have the consequences of 200,000 deaths, tragic all the way around, particularly tragic impact on black households, but you also have the tragedy of an economy that if this economy does not come back, and you dont find a solution to the pandemic but, bob, what im. Unclear about, i think theres an argument to be made, had the administration had frankly the country whipped into the science rather than just not listen to the science and i say this not even arguably theres empirical evidence to suggest looking against the science and trying to undermine the science that the economy might be in a different place when it comes to even just speaking about it in a true way the other question i would just ask you, yesterday, last night there were the comments that the president made about White Supremacists and his refusal to denounce them. Does that make you feel uncomfortable . Lets deal with the first part of the question in your question you said if we listen to the scientists, if we had done this. Theres a lot of ifs in that like i said before, were in a world we never been in before and we must take into account the issue of policy making based on tradeoffs am i happy that 200,000 people are dead absolutely unno one is happy abu that am i confident that either one of the two had a solution that wouldnt reduce the deaths from 200,000 to 50,000 to 25,000 . No so, looking at it from that standpoint, the question is do i have confidence that the other person would have done something dramatically different and as far as the scientists, im obviously, i believe strongly in science. Its the empirical data. Based on deep research and analysis of Human Factors and medical factors. But the point is, i have heard and everybody listening to this show has heard variations what Scientists Say should happen or what will happen so now if youre an executive sitting in an Office Making a decision about 300 Million People, you have to deal with what is commonly known as tradeoffs. You make this decision, the consequences are that. You make that decision, the consequences are this. Now if you bob i would prefer making those consequence decisions today, as i said any day of the week from a business standpoint, im not talking about black america standpoint, from a businessmans point only, i would take the person i know over the person i dont. Bob, very quickly we only have a minute before we have some data we have to hit i want to get your opinion on stimulus weve been talking about airlines and the layoffs they are facing off tomorrow. You have interest in hotels. How desperately is a stimulus need and how likely will it happen from washington its desperately needed the Airline Industry has a vast reach into the u. S. Economy and particularly as owner of hotels with rlj trust, without people flying, without people going to events, without people staying at organizational meetings or going to sporting events, the Hotel Industry suffers all the related businesses, whether its car rentals, whether its restaurants, all of these things suffer if people are not flying to destinations that they want to go to for leisure, business or otherwise so we definitely need to get our airlines back in air with people on board if were going to save the economy. Thank you for your time well talk to you soon andrew thanks, becky. I do hope we can get bob back. Theres some questions that still need to be answered. In the meantime, time for september adp employment numbers and Steve Liesman has those numbers. Reporter good morning. 749,000 adp estimating the private payrolls in the move September Rose by 749,000. Thats higher than the estimate of 600,000 that wall street had. Close to the nonfarm payroll consensus for friday which includes private and Government Employment of 800,000. They revised up august by 53,000 good sector in september up 196. Service sector up 552,000. Looking at it by business size, Small Business up 192,000, lagging medium and large size businesses its been bathe of a lag there, of course Large Businesses lost more employees at the beginning. By industry, good job growth across sectors 186,000 for transportation another rebound for manufacturing, leisure, hospitalist, radiation, essential Business Services on the plus side. A couple of quick things here. The number is better than expected, andrew, however it is still a long way to go in terms of putting all americans back to work 10. 7 million fewer jobs in the month of august compared to september. Maybe well get back somewhere between 800,000 and a million on the friday report. This would not include the new announcements about disney and some for Energy Companies whae d just heard those are not showing up steve, your hot take if youre Jerome Powell and watching us right now, your hot take on those numbers. Also maybe if you are mnuchkin on one side and pelosi on the other what this does to change the dynamic if you think it does at all it doesnt change the dynamic. Job growth is coming back. Coming back gradually and more gradually than you would have hoped and its linked how the virus is behaving in this country. Im getting good job growth across sectors thats good news i want to look at it more regionally i cant do it with this data it doesnt change the dynamic that theres a long way to go and i think if i was powell i would still be out there advocating for fiscal responsibility and advocating for wideopen Monetary Policy. Steve liesman, appreciate it. Always good to see you thanks for bringing us those numbers and well see where the big number lays later. Joe . We might have lost joe when we come back. Really . Former fda commissioner dr. Scott gottlieb we got joe back. Dr. Scott gottlieb will join us on reopening new york, indoor restaurant dining sector about to reopen today well talk about it. Tonight on cnbc premier of the news with sheparsmh. D it dont miss it. 7 00 p. M. Eastern time squawk returns right after this welcome back to box. Cia backed tech company palantir expected to trade for the first time on the New York Stock Exchange the Company Going public with a direct listing with the New York Stock Exchange seating reference of 7. 25 its less than its most 20 billion valuation. Ill be speaking with alex carp shortly later today. A conversation you do not want to miss. Well see you up later today maybe squawk alley maybe later. Depends when this thing starts trading. Well bring it to live becky. Thank you when we come back. More positive virus tests in new york city just as Public School children return to class indoor refstaurant dining resumes. Dr. Scott gottlieb will join us. Catch my conversation at cnbc delivering alpha conference with Steven Mnuchkin. Whats happening with stimulus and the airlines what about klein you can visit delivering alpha. Com to learn more and ers ster thestill time stay tuned box will be right back new York City Restaurants are set to reopen for Indoor Dining today at 25 capacity earlier Union Square Hospitality group ceo danny myer had this to say. Were also really excited weve been serving on the sidewalk for many, many weeks right now. In three of our restaurants. With those restaurants and those restaurants only were now going to be opening at the stipulated 25 Indoor Dining. And we want to do it in safest possible ways. Joining us now is dr. Scott gottlieb, a former fda commissioner he serves on several booze we heard quite a bit from bob johnson, the b. E. T. Founder about tradeoffs, the economy and difficult decisions to make. I think that applies here to whether we reopen these restaurants or not i guess its going to go forward even as we see the 3 or at least well above the 1 infection rates weve seen in new york city. Going back up a little bit which would seem to be a weird time to be reopening a restaurant how would you characterize it . Is it the right balance that new york is manifesting right now, do you think well, look, the risk related to Indoor Dining relates to how many people are crowded into an indoor space but also the kinds of conditions in that setting. Theres probably certain indoor settings that are safer than others relates to air fill triage and airflow. The risk is what weve seen you can get something that proximates aerosol spreads when you have confineled basis poor air circulation, for air filtration it will be variable from restaurant to restaurant its more important to determine what kind of conditions restaurants create and how many people they put inthose restaurants. Now look its higher risk, low yield in terms of economic and social benefits. I would be prioritizing trying to open other things successfully like the schools before you open indoor settings that are purely entertainment and thats what a restaurant largely is not the hardship to the Restaurant Owners, its something you want to do after you get control of the epidemic and after you reopened other things new york does have control right now. I dont think we can draw any broad conclusions from the spike weve seen its a worrisome sign but its not a trend yet. So i think new york still has some time to figure out which way this will go again, as i said yesterday i think the trend superin the fall and winter there may be some cities to hold on to these gains with track and mask wearing but i think by and large this country will see more infection this fall and winter scott you were among six other former fda officials that wrote a piece about worries about the perception that the fda is being politically pressured to cut some corners and it was in contrast, i think, to what you said the last time you were on. Have you changed your view on whether the fda can remain objective or are you just raising a flag to make sure that, you know i dont know how to phrase it, so they get some religion at the fda to be tough and push back on political pressure well, this was based on the fact that the white house has said and the white house said this that they may hold up a guidance that the fda wants to issue thadelineates that. It articulates principles largely understood and communicated to vaccine manufacturers. Im on the board of pfizer i talked to the heads of Clinical Development at other Major Companies and by and large all principles outlined in that guideians have been communicated to the companies and the companies have been following them they have been guiding the Development Programs the publication of the guidance document was a public articulation to provide transparency around principles used to judge a Covid Vaccine and why the white house would seek to either hold that up or say and the white house said this that they may seek to influence those standards. Its wholy inappropriate its counter productive. Ive been counselling the white house not to do that the oped turned on that as well as things done by hhs that intrude on fdas core decisionmaking. Right okay, scott. Thats what i figured. Its in the washington post. Check it out thank you. Appreciate it. Andrew okay thanks, joe. Meantime rick san tis standing y with cme numbers reporter the numbers are trickling out. Something little tricky here we need to deal with. We have to get chicago pmi at 9 45 eastern theres a number thats out there. I cant verify its accuracy i can tell you its much stronger than we expected. Expected 52. Came out at 26. 4 whether thats accurate or not lets put a big asterisk as gdp hits the wires minus 31. 7 the worse ever quarter of gdp and it was slightly revised to minus 31. 4 this series goes back to 1950. So thats a long run this continues to be the worst level. Now lets go through the internals, shall we . If you look at the consumption number it was minus 29. 2 the pricing index minus 1. 8 versus minus 2 . And if we look at core personal consumption expenditure, quarter over quarter it is down. 8 versus down 1 whats interesting on that number is that core pc e goes back to 1959 and minus 1 had been the all time low. So we moved off of that level a bit. The all time high is up all the way to 11. 9 from 1974 to give you and idea well continue to monitor the market on tint rate side it doesnt look like any of the data whether its adp or gdp, third time around the block is having a huge significance chicago pmi is a powerful number and traders will be asking a lot of questions because if that is accurate look for a slow burn as it works its way into the market andrew, back to you. Rick, thank you for those numbers. Meantime Steve Liesman is back with us for more reaction on that take those numbers, layer on the adp numbers and what do you think, steve reporter so, rick is right in sense that we had a big decline in the Second Quarter that was wellknown led by the consumer i think the relevant information here is that were looking for a big increase in Third Quarter that gets us most of the way back we were looking at 30 increase in the Third Quarter if you go down 30 and come ac30 you dont get quite to where you were were looking for Something Like 3 or 4 decline for the full year taking losses in the First Quarter add it to the Second Quarter. Thats a pretty substantial recession by itself if youre going to lose 3 to 4 either off the top or 5 from where you would otherwise have been. Both are pretty substantial. And none of this, either the rebound thats expected should really dissuade according to most economists on the need for additional stimulus in system. Jpmorgan writes if we get this stimulus theres upside troisk our forecast if we dont. Theres down side risk thats how spoirt. Very determinative of outcomes here what were looking for now, andrew, is the ability of the economy to come back and sustain and create a positive on its own. Andrew okay. Steve, thank you for that analysis two pieces of analysis in one day. Were getting a lot from steve yes, sir reporter i forget to tell you. We were talking about this and other issues with Robert Kaplan this afternoon at 1 00 on the Exchange Dallas fed president who dissented and has interesting thoughts on where Monetary Policy ought to be right now fabulous. Well look forward to that as well becky . Andrew, thanks when we come back we have much more of last nights first president ial debate. What did the Business Community take away from it and who do Business Leaders like. By the way ill sayed goodbye right now. Ill be back later im going to leave to get ready for delivering alpha 9 00 a. M. Eastern time hkat interview with Steven Mnucin you can catch it right here on cnbc bye dierks ill see you later. Squawk box will be right back. Good job, michael does. Ok, lindsey now tell the class what your mommy does. My mom has super powers. Its like she can see the future. What . its like she time travels in a rocket ship. Thats cool and then she comes back saying try this or try that. She helps everyone. She helps them feel less worried. Wow mommy, so what is it that you do . Im a financial advisor. She is aig proudly supports all the professionals taking care of our financial futures. Coming up inside disneys decision to layoff 28,000 workers. We got a live report next. And its International Podcast day. Youre kidding so subscribe to ours squawk box, download it wherever you get your podcast. Just be aware its audio only, i think. Stay tuned well be right back. Disney says its laying off 28,000 employees across its parkes experience and Consumer Products businesses Julie Boorstin joins us now with more reporter thats right, joe 28,000 employees across that key division that includes theme parkes and its Consumer Products and thats across hourly salaried and executive roles 67 of those affected are part time workers the chairman of disneys park experience and products said in light of the prolonged impact of covid19 on our business, including limited capacity due to physical distancing requirements and continued uncertainty regarding the duration of the pandemic, exacerbated in california, the states unwillingness to lift restrictions that would allow disland to reopen we made a difficult decision to begin the process reducing our workforce at our parkes, experiences and products segment to put it in context all of disney has 223,000 employees the last time it reported a figure in 2019. This is a 12. 5 piece. Disneyworld has 77,000 employees and disneyland has 32,000. These layoffs represent a quarter of all u. S. Parkes employees. Disney shares are down about 15 yeartodate on concerns about this and other exposure to covid as well as its movie business rosenblatt telling us we assumed it would take a couple of years for disney to get back to prior levels of profitability with revenue coming back. Now it cube combination of revenue coming back and costcutting more than 60 analysts have a buy rating on the stock. Well be watching for more analysts reaction. Thanks how much is this is disneys choice, in your view reporter well look, disney had furloughed about 100,000 employees at its Parkes Division for about six months now but this does seem to be in response to the fact that in california in Orange County where disneyland is based the Positivity Rate of covid tests is still so high that the state has no plans currently to allow that park to open. So it really does seem to be in response to the states response to the covid levels here in california so, obviously, in florida, disneyworld is open with limited capacity this seems to be look we dont have any sign when things will change in california we cant hold on forever so, unfortunately, it does seem to be spresponsive to the covid. Andrew okay. There are now just 33 days until the president ial election. Earlier this hour we asked rlj Company Founder bob johnson who he is backing. Where i come out as a businessman, i will take the devil i know over the devil i dont know any time of the week. And that seems to be what Business People are confronting today. Joining us right now to talk about what Business Leaders want to hear from candidates, john hope brian, ceo of brian futures and kevin oleary, sharp tank cohost and cnbc contributor ill call you mr. Wonderful. John i want to start with you. You heard what bob had to say. Im curious about your reaction to that. I respect bob i think he has put that bridge up in succeeding himself but i dont know where we go from here. This is not picking a devil. This is picking the soul of america. And im not playing sides here i advise democratic and republican president s as you know, andrew for three president ial candidates. I want america to win. I want whoever our president is to win yesterday was a Dumpster Fire. It was www wrestling with a combination of White Supremacy put on top we should be saying no to White Supremacy. I dont care who you are we should be saying ill say the same thing i said on this program about the peaceful protests which i support that sometimes turned into rioting out of frustration that it dont. I said blaming your neighbor doesnt make you any richer. Anger doesnt solve a problem. I say that about debates last night. Americans want a vision and a plan and we lost out last night and its not about picking a devil. The fact that we got to this base of a conversation, were talk about the devil we know or whatever that is, is troubling, concerning, and frustrating. My middle name is hope i hold all of our leaders to a high standard. And the man who advised king in this town once said the greatest sin is not failure but low aim kevin, react to that. I also want to hear what you have to say about bob johnsons comments and his comments specifically about the business, what he thought or argue were the business policies that he thought were beneficial to the country and, by the way, he seemed to be a relative backer of trump in terms of even his response to covid. I understand what bob was saying lets speak on behalf of millions of Small Business and Midsize Business in america were 64 of the economy i know who the winner was in last nights debates it was netflix. Because 45 minutes into that we had no new information what we desperately need and the opportunity missed for both of these gentlemen and i would say with certainty that if the president and former Vice President biden had a chance to redo they would have because number one, we heard no policy from either. That is useless in terms of making business decisions. What bob was referencing was the uncertainty generated by last nights debate we dont need more uncertainty we have enough of it now his reference to policy prior in the last four years i would agree with him Small Business and the Regulatory Environment has been very accommodating to Small Business we saw Phenomenal Growth up to six months ago i want reminds me of the late 60s i never saw such growth in my portfolio until the pandemic hits you can be critical of the president s style. But last night we got no information. I would have liked more information from both potential president s what sectors will you focus on above all what i wanted to hear that i suffer with every day is what is your policy on china i mean, i heard nothing. So maybe well get that at the activi Vice President ial debates. To both of those candidates speaking as an investor, Small Business, the core of our economy, lets get our poop together and tart to concussion on what matters to america to create jobs. I dont mean any disrespect, but we need stability. We need policy we need to understand whats the next step. Because i understand the country is the divided everybody understands that but its policy that drives the economy forward and from both of those candidates we got zero so theres work to be done here in the next 33 days. Andrew, i got something very powerful to say to kevin we actually agree. You know, america lost out last night whether youre in the investor class on the program coming up later today, Business Class and the Business Owners that i know of, the black owner that owns a mercedes here or black owner that owns the waffle house restaurant here or the black and latino owners of the shops at the airport here, wondering whether youre a billionaire or millionaire you wonder what the vision is of the country. Do you invest, consume, spend, where is the vision for you . We all lost because it wasnt vision, it was division and about me in other words the candidates not we, america but 100,000 employees, 70,000 jobs overall and 10 million jobs wheres the vision that has to happen today and so we have got to pivot here and provide clarity for markets big and small. Kevin, i just have one question about what might be described as he equivalency. Everybody is calling this a Dumpster Fire. This is a Dumpster Fire for both did you look at the performance of President Trump and Vice President joe biden and see the way . Yes, i saw just missed opportunity for trump, it was so show a different side, one that was honed by having been president for almost four years, to see what the next four years might have looked like, thats number one but for biden we dont have policy, we didnt get any from him, and also Im Old School there is a certain reverence i have for the office of president regardless of the man or woman in it. To achieve that, the highest office in the land, to call the president stupid or a clown, it just troubles me it bothers me, and its just wrong and i think that did not serve him well and so i think both of these men have a lot to do in soul searching for the next time if there is one when they do engage and, remember, and i say it again on behalf of Small Business, give us policy we need to have that to make capital x decisions. We dont now who you to deploy our capital if you dont tell us what direction were going in in a plethora of issues and we didnt get any of it as you know i dont like name calling, as you know i hate name calling, you know i hate lying much much more and so my question about the Fact Checking that was going on, how you thought about that i look at politicians as always stretching the truth regardless of party. They do that, thats in their nature unfortunately, andrew, you better get over that you can go back decades and fact check any president ial debate and youre going to find all kinds of softness. Thats not what im talking about. You could have told me and i will reiterate it what the china policy is. I need to know that. For 17 years ive been manufacturing the supply chain there for my businesses and im not a happy camper i want to know what would happen look, you know, weve got real issues here to deal with, not this partisan rhetoric, im tired of it, i want policy and i say that to both candidates and i speak that that on behalf of Small Business owners, get your poop together and show you what you want to do. My mom and john, i want to hear what your no, maam and dad had to say and youre going to have to come back and to do it we have to run i love you both and i always appreciate the conversation and how even when theres disagreement everybody is agreeable. So thank you for that. Joe . Thanks, andrew. Lets get to cnbc headquarters, jim cramer joins us now. Jim, i will just looking down now that futures are up, i saw your comments early in the morning that, yeah, the markets are telling us that they didnt really they werent they werent feeling too good about that debate last night it was we used a lot of dis words, disspiriting and disappointing, a lot of them, disheartening. Like so often something comes along now the futures are up you know, i guess, you know, Economic Data comes or maybe Speaker Pelosi said something just recently that now the futures are up it has to be the latter as bad as it was it has to be the latter because i think that the take away from a business point of view listening to everybody this morning is that its very hard to compromise given the fact of the rancor of last night maybe theres some movement and some Senate Movement i think the Senate Republican senators have been very hard to corral, but the futures being up i think is more of an indication that maybe theres hope again for stimulus i dont know theres not a lot of friendship between these two parties but there is friendship between secretary mnuchin and Speaker Pelosi so maybe something is happening to try to jim, the comment from Speaker Pelosi was that i guess shes optimistic, possibly, on a im sorry, pelosi says shes hopeful on a stimulus deal and its prospects. Well, that would be terrific. I hope that the republican senators all are on board and there is some level of compromise i do believe look, we have listened over and over again everybody this morning needs a stimulus its rather incredible there is not a guest that has come on that does not need the help to really just to tide them over until the vaccine i mean, its so commonsensical that you would have to believe that it would happen, but right now nothing. All right great show this morning thanks, jim we will see you in a couple minutes. Andrew okay. Weve got a lot more coming up, joe, one final side of this break, top stocks on the move ahead of the opening bell on wall street. Stay tuned, youre watching squawk box right here on cnbc. Welcome back to squawk box. Were getting closer to the opening bell on wall street. Dominic chu joins us with top stocks on the move this morning. Andrew, we have a commerc and retail focus for the movers today, we will kick things off with shares of shopify up around 1. 5 , roughly 50,000 shares of premarket volume this is the provider of Cloudbased Software that helps companies conduct Business Online gets upgraded to an outperform to neutral at wedbush. They add mid they committed the upside move in the stock over the last months or so, but given the valuation concerns they had they say longer term positive friends in Fulfillment Networks and the point of sales platforms will drive value creation, shares up nearly 2 . Next up, shares of lululemon roughly 5,000 shares of premarket value. It gets reinstated with a buy over at bank of america, the target price set at 390 bucks, they think lulu is one of the best growth stories in retail, this he like the International Expansion opportunities and the strength in the ecommerce channels those shares up 1. 3 canada goose upscale outerwear is the trend 10,000 shares of voluntarily lieu due in part to an upgrade from outperform to market perform at cowan 36 to 23 they cite a stronger retail rebound in china and premium brand positioning this this entire category for outerwear. 3 gains back over to you. Dom, thank you for that lets take a quick final check on the markets they are moving now into positive territory this on the back of comments by nancy pelosi suggesting that she may be hopeful that perhaps a stimulus plan could be happening or getting at least a little bit closer dow up 31 points, nasdaq turning positive, 7. 5 points higher, s p 500 looking 5 points higher. Joe, what a show what a night with the debates and what a show today. I like the, you know, the clowns are theyre insulted because they called it a clown show, they dont think they deserve to be thrown under the bus. You know, its october and thats a scary month sometimes. We have to run, joe i will have alex karp on later today from palantir. Becky has the treasury secretary. Make sure you join us tomorrow squawk on the street begins right now. Good wednesday morning, welcome to squawk on the street, im Carl Quintanilla with jim cramer and david faber. Final day of september and the Third Quarter as futures swing into the green, we watched debate reaction, corporate layoffs, positive news on testing and vaccines, palantir and stimulus and thats going to lead our roadmap Speaker Pelosi set to talk wit