Percentage point hang canning down and shanghai off by about. 9 active trading in europe now youll see red arrows across the board. Biggest decliner is the ftse 100. Look at whats been happening in the treasury the 10year is yielding is 1. 824 zben well above 1. 8 talk about pg e, saying its power lines may have started two wildfires over the weekend in the bay area the fires began in a section of town where the utility opted to keep the lights on another round of blackouts is expected to begin today as more strong winds move on shore the u. S. Is considering extending tariffs. Skapgss on nearly 1,000 products in september, they plan to exclude American Farm goods. Bowings ceo said that their company made mistakes and got some things wrong. We own that and are fixing that. Saying boeing employees felt pressured during the certification process. That hearing begins at 10 00 a. M. Eastern well watch closely and talk to two senators who will be questioning mullenburg lets talk shares of Google Alphabet are lower earnings came in well below the 12. 42 analysts had been expecting. They did report ad sales but profits did file up. It vests in businesses such as Consumer Electronics and the cloud. The report that they were asked if they were buying fitbit still questions about the cost i think the advertising issue is the biggie check out shares of beyond meat they were getting slammed in the activity reporting its first profit of the company. Beyond meat is facing increasing competition from rivals like impossible burger even as it signs new deals with subway and mcdonalds. Topping out near 240. Down about 9. 5 if you are looking at a longer term run, this has been a pretty phenomenal story the ceo will join us around 8 00 a. M. Eastern today is the day the lock up expires. Coming up, well get you ready for another busy morning on wall street as the s p starts in a place where its never been before to infinity and beyond. We have reports of pfizer and america. Well talk strategy. As we head to break, the look at the biggest winners and losers especially with the dow. Well be right back. At synchrony, were changing whats possible every single day. And if you run a business, that means a lot. We create Financing Options for your customers. To help them get the things they love instantly. Our data provides insights into what your shoppers have already bought. So you can offer them what they might consider buying next. Our technology and Financial Solutions are changing whats possible in all sorts of ways. So, how can we change whats possible for you . Thbecause with nband after thleague pass on xfinityr. You can watch the out of market games you want all season long. And with the allnew xfinity sports zone, you get everything nba all in one place even notifications about your favorite teams. Watch the dropped dimes, monster blocks, and showstopping dunks. Plus get instant access to your teams with the power of your voice. Thats simple, easy, awesome. Say Nba League Pass into your voice remote to check out a free preview. Dont miss out. The Standard Poors 500 closing at a record level ahead of the fed policy meeting happening today. Expecting another rate cut joining us, head of Municipal Bond investment group. And ed campbell, senior portfolio manager. You are bullish now. There might be a melt up at the end of the year. We hit a new high. Thanks for that. You think they might be in a rally mode the geopolitical risks have been dark clouds on the horizon trade situation, at least the conversation seems to be moving in the right direction weve gotten through the difficult months of september and october without the typical blow ups when you say the year end rally, we havent seen it yet. We are through december and october. You are talking november and december, besides the move, 7 to 10 . That is a definitive some people dont date it back 18 months i feel like weve been kind of flat weve had a big run up since there. It feels like it has been a fantastic year a recovery from the big dive weve seen in the fourth quarter. Ive seen people making that point that the markets are ahead of themself. If the market anticipates a flat earning year and tread water from january to now. Rates have come down and weve kind of Spring Loaded everything maybe seen other things bottoming as well. We may have spent enough time bottoming out. The big thing may be the down turn in manufacturing. We have a lot of still lmulus wh rate cuts. Im not wildly bullish the economy has a lot of issues and problems investors can put away those concerns now and year end. We could have a pretty decent up move fixed income. If we are facing a slow down, you have to think about the credit risk. Feel good on both counts or are you a little bit sticking your toe in the water up each about 6. 5 . Yields have come down. Economy continues to expand. Thats a nice mix. They are able to refinance that. Even issuing taxable bonds higher bonds, old tax debt that has been benefitted by the economys longterm expansion. Equity market has been on a huge bull run that helps with trouble so many situation there. The muni credit situation has been strong. What can we expect from the fed, any surprises i dont think it would be a surprising meeting, how does the fed couch what they have done now that well get another ease. It may be the midcycle adjustment we are called that they sort of panned when you consider the economy has been decelerated, the believe al economy has been decelerated and we have a truce in face one. Completing again, sees how the risk factors are identified. Global decelebration, evolve from here. If thats what they say. They dont promise another ease, i think it is possible they take this in stride if they say we are done, that could be a challenge that could be a bit of a surprise they are remaining proactive to the risk on the down side. What is the growth, is it going to be 1. 5 to 2. 5 now pinned to 1. 75. I still think we are in a 1. 5 to 2 range the fed had to do their adjust asking now, does the economy truly get acceleration or a soft landing. If we are getting a soft ladder, 1 dat 5 to 23 seems to be the trade. What happens next year . We get a year end rally and then election yes i think it is too early to start obsessing about the election especially since where he dont know who the candidate will be on the democratic side some say we dont know on either side, is that possible . Not yet here hoping the flattish is explained by the tough tax cut. If we avoid a recession, earnings will get back on track for midsingle digits we could have another decent year can you send any wine, r. J. , not you . No relation not in the wine business in the bond business i guess id rather have bonds sent to me than wine id rather drink wine we may need some next year. When we return, Bernie Sanders sounding off in the latest cnbc speak easy and what he said about wall street and ceos does your broker offer more than just free trades . Fidelity has zero commissions for online u. S. Equity trades and etfs, plus zero minimums to open a brokerage account. With value like this, there are zero reasons to invest anywhere else. Fidelity. We are now 371 days away from the next president ial election many topics are hitting close to home Bernie Sanders talking to Cnbcs John Harwood about the power and practices of ceos. You can judge a person by the friends they have. You can judge a candidate for president by the enemies they have i uniquely in all due respect to my colleagues, i am taking on insurance companies, drug companies, fossil fuel industry, the military industrial complex, prison industrial complex, wall street more from senator sanders you, go to cnbc. Com to see the full interview more on the content wars battle the they had been writing and producing new star wars series but they wont be able to continue because of the new 200 million project for netflix after saying that fet flichl deal had been controversial. Ale they were looking back i think the confederate deal went fast. The star wars deal, they hadnt started writing or anything you guys are more game of thrown fans, there was more about the ending coming up, we have a new report about the time line of the aramco Public Offering one of todays biggest losers, grubhub, why the stock is getting crushed. A look at s p 500 winners and losers through the at t network, edgetoedge intelligence gives you the power to see every corner of your growing business. From using feedback to innovate. To introducing products faster. To managing website inventory. And network bandwidth. Giving you a nice big edge over your competition. Thats the power of edgetoedge intelligence. You should be mad at airports. Excuse me, where is gate 87 . You should be mad at nonseasoned travelers. And they took my toothpaste away. And you should be mad at people who take unnecessary risks. How dare you, hes my emotional support snake. But youre not mad, because you have e trade, whose tech helps you understand the risk and reward potential on an options trade its a paste. Its not liquid or a gel. And even explore whatif scenarios. Wheres gate 87 . Dont get mad. Get e trade and start trading today. Welcome back you are watching squawk box from the Nasdaq Marketsite in times square good morning. Take a look at u. S. Equity futures at this hour we are already in record territory. The dow looks like it would open down s p looks like it would open down about 4 points and the nasdaq about 20 points off this story is for joe, maybe for everybody. Apple has introduced a new highend version which i think will fit joes ears better air pods prowill feature new design and Noise Cancellation. Theyll cost 249. Thats the important component. They are available to order now and ship by october 30 here is the deal noisecancellation is the big feature. For you, they come with different sized rubber tips. They need to create a sale in order to work. It is more of a squat little case a wider case a little narrower. They are a little uglier in some ways. My solution has been to reverse one. The left one in the right ear and they say its very tenuous. You can have continuous air pod fear when you walk in here, that grate. People who walk in here in heels. There is a guy they found who fell in a manhole. They found him like a month later. If those fall off when you are walking over a grate, they are gone i want these for a different reason my problem is right now, i wear these all day during the show. Then when i get on an airplane, i still carry the bose noise canceling buds if i could put these on the airplane, it could help. If you are a road warrior we have a lot watching here. They are in hotel rooms and running all over the place who wants to carry two sets of head phones. Thats the sale. So you are in you have bose, not beats. Look, beats is owned by apple. If you actually care about true Noise Cancellation with apologize to the lovely people at beats, bose wins the game is it bose or beats bose are the ones that really work i have a pair too. Those are the ones that really work there is no way to respond to you. No. There is not it is just high school. Yes there is. Shut up. Shut up and read shut up, fatty. Read. I dont even have to say it grubhub we go right to that. Sliding more than 30 . Giving disappointing results and weak out look. Blaming premiscous diners those who use multiple apps. Restaurants have been pushing back on fees charged by Delivery Services i may get taco bell. Bp says its net profit fell more than 40 2. 3 billion profit sounds good but down from 2. 8 billion former founder of kickstarter joins us to talk entrepreneurship and later, our first cnbc interview with beyond meat Ceo Ethan Brown that stock still down sharply this morning today is the day of the expiration of the lock up. More of the companys big plans. Stay tuned you are tcngwahi squawk box oven cnbc. Robinhood believes now is the time to do money. Without the Commission Fees and account minimums. So, you can start investing today, wherever you are even hanging with your dog. Ooh, like her. Shes probably investing right now. Taking charge of her money, making it happen. Shes not going to be happy about that pillow. Its time to do money, so what are you waiting for. Download now and get your first stock on us. Robinhood. Welcome back. U. S. Equity futures are a little down after the s p hit a high yesterday. On the dow, about 34 points. S p about five take a quick look at crude crude hasnt been the most exciting thing to watch. It has been in a range no one is complaining. Down in the midtwos. 2. 50 for gas. Below where we were a year ago. Breaking overnight, wall street journal reporting that marathon petrol yum is considering selling off its gas station shares this one is fluid according to the report as the company prepares to release earnings in two days it may still end up reversing course also new, saudi aramco i aiming to set the price range for its ipo on november 17 with a final price announced december 4, it will begin trading on december 11 according to the kingdoms stateowned tv service. Theyve delayed the deal to give investors time this has been delayed multiple times. I dont think weve ever gotten to the place where theyve released dates hot by anticipated not as much as they want it to be given that the price valuation is not where they want it to be there is a view that they are trying to not have a very low price but to set a price so that in 9 future theyll be up. The real story is the money tiktok has reports of looking at going public weighing an offer in hong kong as early as First Quarter next year should tell you, even though tiktok is kind hes site that is true a bunch of other u. S. Venture firms have stakes in that company. Ipos have started and ran a company that decided to stay private. The former ceo of the kickstarter. Author of a new book called this could be our future. Thank you for being here. Before we dive into the book, i want to get a little backstory you were somebody who preached this and lived this for years about not maximizing profit or taking every time. Explain that kickstarter became a Public Benefit corporation in 2015 which requires us to legally balance producing to Share Holders versus a positive benefit that came naturally to us part of why people love kickstarter. This is a platform that a peefs to creative people and artists weve always had a strong belief that the long term success of the Company Relies on a strong tie to the community and the larger values. It has already hpenned elsewhere. Kickstarter, you find a way to find seed money. Yes someone posts an idea of something they want to make, the public posts the money there is no final upside successful starters are pel oton occulous rift. To me, i never thought of it as a true investment if i had put money up for pel e peloton, i might have gotten a bike out of it but not what other investors are getting. When peloton put up for early investors, it was a very early idea kickstarter is a way for people to interact directly with the public there is no financial upside it is look at the restaurant, my name is on the door. What is the story of the union . The Kickstarter Union why push back on unionization i havent been involved in the company the last two years what do you think is going on it doesnt look good i would hope there would be a vote theyve just been saying it would have a vote. I think the idea is to put it to employees to make the decision im not clear why that would happen or what it would take as a cofounder or owner of the company, i would like them to move on today. Anything i push back on, a lot of the ills of society you tie to the profit incentive. Youve tried other things. It seems like if a company is profitable, employees keep their jobs, they keep paying taxes if someone becomes wealthy by being an entrepreneur, he becomes a figiving if you are losing money, you are really doing well. That seems like the converse i dont disagree at all the focus of growing capital bays has been the dream. But it is time to change dreams. And try to make less profits . Try to grow value in multiple ways instead of just one isnt profit the engine of what you want to do. Possibly. There are limits to these things taxes will go down thats not what happened before. We want to redistribute opportunity. Do we want to redistribute income no. I think that is the first Deal National value but i think that is the last one. Figuring out what are the next value. The crisis, the fact that we are trying to change the amount of carbon in the atmosphere, we need to be working on that language is there a historical precedent for making this model that you can point to that has been more impressive sure pan sonic. No. A country that has become less capitalistic sure. If you look at europe, you have a mix of saying we are not asking for someone conversion fees are high we can choose it is an alternative but over the last 40 years. People are probably 40 to 50 less healthy per year. The idea that the expansion would cure all we had the record scratch at the moment all the people that are supposedly woke were the most unwoke are you saying they should have taken a stronger stand for human rights in china . Yes we thought this was the most woke league. Once it ran counter to what you are trying to push back on, then the rubber met the road. It is a new kind of friction. The first moment we are feeling that the first pangs you are figuring out the response i you are writing the book. Even adam silver saying, we we koof rate as of free speech. The line they are trying to hold without pissing anyone off when i think about the need for American Companies to promote in china. If that was a new concern just as it was in the cold war. I think well have that idea come back again. If i look at the 1950s and 60s, what was happening capitalism was forced to compete with communism which score board can produce the biggest middle class what do you make of the argument by our treasury secretary. The reason they often argue they wouldnt sign it isnt because businesses arent doing things, they often are they would say, look, it is too hard to serve so many masters. If you give me one target, i can do that. I can probably do all these other things to get there. But if you give me five, i dont know how to value or guj what im doing. Righ