The dow down by almost 1,000 points the decline of 1. 8 . S p by over 8 the nasdaq a miracle come back after a laydate rally weve been bouncing around positive territory right now, the dow down around 14 points, s p up about seven points and the nasdaq up about 70 points. We are talking about a town month for the markets, we are looked at four sessions in a row. Thats the longest losing streak looking at these numbers, you are talking about these lower numbers. Month after month i think we had april, may, june, july, august are all up. Stocks only go up not in september. In an Election Year it can take on significance. The nasdaq can move. We can see it down 400 or more points can that close higher again today . Thats a good move you could look at it midmorning and then it seems like it is not the tale at this point kind of the log. Faang, tesla and the leadership move. Apple made the rally yesterday too. Gold is supposed to go up bitcoin, supposed to go up weird. Thats where you think it is just money i was digging into the dow. The component was under significant pressure and saw the climb more than 5 the industrial names really getting punished that could trace back to if there is a second lockdown those are skpektsed to be recovery stocks those are the ones that faced a lot of pressure yesterday. Talking about that exact point, the drivers of this and what is moving the market. It is that potential for lockdowns. Boris johnson expected to announce tighter restrictions. That will happen today Julianna Tatelbaum joins us in london with more on that good morning very good morning. Boris johnson is set to address the house of commons shortly and then address the nation at 8 00 p. M. Uk time hes expected to announce new measures among those is a 10 00 p. M. Curfew for pubs and restaurants and a move to Table Service only we could be cutting attendance at weddings from 30 to 15. We may get guidance to those working in the office and urging to work from home if they can. The telegram saying the second shutdown slammed in reverse the times, new 10 00 p. M. Curfew a huge amount of attention in the uk on this this comes after the warning yesterday from uks chief science testifyic advisor and medical advisor saying if cases keep doubling every seven days, then the uk is on pace to see 50,000 cases by midoctober. We saw the cases jump from three to four. The numbers reported 4,000 cases. The third day out of the past four where weve seen these cases. To put this in context for june, july, august taking this back to markets, we are seeing the rebounds for the most part. This comes after a plunge yesterday. The main benchmark stocks plunge 3. 2 travel and leisure continue to selloff. A huge amount of concern around what comes next and the impact of these new restrictions. Guys. Help us with this little piece, which is, i think a lot of investors not only worry about what is in the uk specific but that say to themselves is new york or other parts of the United States or europe just weaks behind what is happening in the uk. Speak to that. I think the measures being taken in the uk up until now are more relaxed than in the u. S. Right now . Thats right. I just spoke to Brian Sullivan he made the point where he lives, bars and pubs are not reopened at all. We are going out and there are rules around different venues. The uk has taken a different approach we have reopened more parts of the United States. It sounds like where you guys are, things have been more stringent. Clearly here, theyve sent this big warning that if nothing is done to change, we are headed towards a dire situation come november nobody wears masks in london right now, right there are rules in different venues but Walking Around the street in public, it is not a requirement. All right thank you. Tesla is holding its annual share holder meeting in Battery Technology day presentation. Last night, musk tweeted downplaying the short term saying the announce wont reach serious highvolume production until 2022 tesla shares fell after that tweet. Also said tesla intends to increase battery purchases from pan sonic and without taking action, they would foresee significant shortages. Shares of roku jumped when it was agreed for comcast. 20 million shares works out to the stake in 4 of the company a little tougher to do in this situation where the Roberts Family controls so much. What do you think more recently, and then ge pepsi there was another one too. Dow orone of those those around Financial Engineering and a bit of an effort spinning off and what assets, would you try to spin if that was going to be your effort im not too sure they would be ready to spin off. They spent so much time putting it together. The ministayathome play, the broadband business during the pandemic has been knocking the cover off the ball businesses like nbc if you are dependent on sports or a theme park put them back togetherle and they dont know. Possible, the pieces could be worth more, together with the sim foe knee you got to get back in here with the delay saying any share holder would tell you the pieces are worth more than the stock is reflecting thats where they see things in agreement. That stock is undervalued. It is following the pandemic. It may have. Prior to the pandemic, it was at levels it had never seen before. They almost got all the way back maybe the stock gets rerated here that would be the potential benefit he maybe shines a lot on it the issue for everybody right now, you look at a charter and the pure plays by default, the multiple they are capturing is higher. There is a potential almost in marketing or education that you could get a rerating on the way nelson approaches it ive seen him do that a little before kind of interesting weve seen it happen before. We get a lot of attention for such a small stake about your stake, i think. After those contracts you sign being here 12 or 13 years. It is a tiny amount. Yet, you get all this media attention. If i were comcast, i would go. Well, nelson, what do you want exactly . It is not that much really then there is the voting control. Youve seen it in the past you can shake things up a bit. Sounds like a lot of money not that much. 0. 4 okay we are talking about it. By the way, Parent Company of cnbc and this network. We should probably point that out. Again. Coming up on the other side of this break, lets show you stock futures right now. Where they are headed. Down on the dow but the nasdaq powering back. S p 500 higher as well well talk big moves in travel and leisure and whether we are seeing a return of the lockdown trade. Check out shares of the electric truck maker, nikola following the abrupt resignation of the companys executive chairman short seller accused the company of making false statements well have more about this story at 6 30 a. M. We are back after this the big events are back. Xfinity is your home for the return of live sports. Zoom is back in style. Who could have guessed going back to work would cause the virus would spread not safe to go to the gym so we are back on a peloton. What else is there to do when you are stuck at home other than watch tv and movies over the web. Yesterday was pretty calm. Less than 2 . Among the stayathome winners time to separate the stocks benefitting and those that had a temporary windfall and the performance of the selloffs like zoom, way fair, compared to the winners like match really that partner at 18 47 also with us. You got very offended when i said something about that pelt you have it is growing out. I like it better you think about that ill go to greg. Greg, youve been expecting some of these changes and the gap between stayathome or growth to narrow. You still expect that to happen. Maybe more slowly. I do. Let me state unequivocally, if we see another spike, these companies are going to put up other third or fourth quarters im looking for a little longer term just as happened for 2010 and 2012, tech underperformed and overperformed as traditional sectors outgrew them from those who have been temporary or lead to the baseline those with a higher baseline in that last bucket will be those that roulg with the experience in the structural shift or are posed to the e retailers. And those that could grow the quickest just looking at your notes, would you say we are in the market remains nearterm vulnerable you think we have more to do i think the market has a longer term, whoever the president will be. Clearly, whats happened is weve had five consecutive months that have moved higher. You climb those five steps and you run, it is okay to rest on the top step the first thing youll do is reach for a nice bottle of water and if you think about it, growth and megacap growth, microsoft. Thats your bottle of water, you are not going to push for the sugary pepsi it is a good sign late in the day. Watching apple, microsoft, salesforce again today thats where youll find stability in the market. The old adages, you have a price target or a time frame but never give both. So 3,600 what is your time frame on that . You mean in the next 12 months or 12 years . No, no. I think well get it quickly within the next three months. I hear everyone come on and say well this is a healthy correction it is not just a price correction where we quickly snap back like in 2017. So for the price earnings to chop and move. That is more healthy than well see in the last couple of years indicating the markets to recover. We made a lot of progress and we havent seen that. I can do 500 in my sleep the other one when the vichl spikes, reading when all of those went to croatia are there true concerns happening here i think there are we are building the uncertainties. We were worried about a second spike and whether or not we are going to get a stimulus we need to empower job growth and consumer confidence. You no we are worried about the attention being deflected to the Supreme Court nominee. Instead of taking care of risks, we are adding uncertainty to our plate. Not to mention, we are worried about whether or not there will be a resolution to the election. As these come off, well see more normalcy. We expect that to continue to be very volatile. Not like there was a lovefest going on before this now, well get another impeachment and get maybe 34, 35 justices, so it is 314 justices i dont know, what does it mean for more stimulus for coronavirus . They are just at each others throats, right it is not good cant believe the death of a Supreme Court justice really does impact the stock market at this point based on that stimulus, if you connect all the dots thank you. Well see you and check back soon becky. Poopoo platter. Havent heard that in a while. Coming up, cocacola ceo giving an update about going into seltzer and Barry Dillard will speak to you lets look at todays biggest premarket gainers and the nasdaq amazon coming up in second place, then sirius, apple and facebook [ thunder rumbles ] [ engine rumbling ] [ beeping ] [ engine revs ] uh, you know theres a 30minute limit, right . Tell that to the rain. [ beeping ] for those who were born to ride, theres progressive. Time now for the executive edge cocacola ceo says the Company Plans to release the first hard seltzer. First update since july. Here is what quincy told cramer last night we are going to follow the consumer in the old days, people were more regular meantled. There wasnt such a blurring about categories the consumer are trained in looking for new things releasing hard seltzer under the topo chico brand i have yet to try any of these but taking places by storms. Love them i do they are light i have enough vices they are light. I love all the flavors i like the white cloud can you get a little 12 pack variety. Do you remember zima . So difference thats a beer it was heavy and filled you up like a big beer does it taste like bartels and james . No. What does it taste like, you go from drinking soda and say, wow, this artificial sweet ner will kill me before anything you get used to that ands it great. A little bit of alcohol. So bowl and spring was your gateway drug so does andrew. He said i do drink sparkling water. That was his vice. Ive heard sparkling water is bad for your teeth it is you should drink it with a straw. Not with a paper straw. A metal straw. A reusable straw. This was the Culture Shift those first six go down so smooth why you laughing it is a joke we have a big story well take a closer look at General Motors investment of nicola after the resignation of the companys executive chairman and a programming note alpha is back for a special anniversary with a special guest. Visit delivering a look at yesterdays s p 500 winners and losers 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. Welcome back to squawk box. It has been 13 days since nikola announced the partnership with gm until the ceo resigned. With us, former ceo of ford markets. Great to see you help us unpack this. What is going to happen to nikola and what happens to gm . Lets talk about gm the reason they went into this partnership . They need to drive down the cost of their new batteries and improve the viability of the electric business. They get more scale of these batteries that will help drive down the costs it will allow them to use some capacity of the dedicated plants and electric vehicles. They get to share in the upside of the nicola equity with the issues coming up with nikola, mary barra is probably asking many questions and their board is probably asking questions such as did my team conduct a full investigation of the team and talent. Does she want to dedicate engineering, manufacturing and resources to the nikola project. Second is, is the nikola brand now damaged weighing in the brand and weighing the market or the risk. So thats the question do you try to get out of the deal at this point. One of the questions i tried to ask mary is how they had come up with and they felt with the valuation of nicola that so much of the transaction revolved around them taking a stake in the business and doing the work and diligence on the company and not just getting an out Source Company to pay you to do stuff, they were taking a piece of the pie here she is getting with her business development, head of manufacturing and saying listen, i want to double check this due diligence. Steve gersky will become the chairman there he worked a long time with mary. Hes probably getting on the phone saying, hey, is this a real company is it yojd a prototype and Business Plan to helpful fill the obligations of this arrangement. Right now, i think she has to double check on all of those things to make sure she wants to continue with this commitment. Becky has a question for you. Hey, becky. Hey, mark, good to see you. What are marys options . Could she unralravel the deal is it possible to even unravel this to my understanding, it wasnt finalized theyve put no investment here theyve said they would provide those and do some of the engineering and manufacturing of the products she has the option of finalizing this agreement and dedicating the resources to work with nikola and work this out there are a bunch of offrampps what happens to nikola if gm walks away from this if you read their sec disclose yures the source around driving the company you have to ask yourself the question, were they misrepresenting on that and what were they vesting in there is a lesson here for any investor they have to ask themselves the question, is the technology or service real and is the governance real. When you go under that white hot light. You have to have very mature processions for control, governance and disclosure. Here is the several billion dollar question. Now that you are also not just an operator but in the Investment Business with ppg, what price would you buy into nikola given that it still doesnt have a product and revenue associated with it in answer to your question, andrew, right now, i wouldnt buy. First, he has to resolve the doj and sec investigations and focus on the Business Plan and deliver the projects i would invest until they have the investor day that clarifies the capabilities and plans that put forward the milestones that layout until they have a day like that where they can clear the air, i would not be invested. Always a pleasure you know the ins and outs better than flib. Great to talk to you great to talk to you again too. The latest battle over the Supreme Court. And election uncertainty both of those ad to each other what does it mean for the markets and your mng dont miss our exclusive interview thwi Barry Dillard thats what my dad does. Good job, michael 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. Its the simple joy of washing your hands,. Without ever touching a faucet. Its the Little Things that matter. Thats why we create moments to feel kohler clean, every day. Coming up, early voting has already started in parts of the country. Our next says the election uncertainty is starting to weigh on investor sentiment. Check out shares of am Zion Williamson up 2 after bernstein upgrades to a buy creating an attrtiacve entry point. 3,012. 18. I felt like. I was just fighting an uphill battle in my career. So when i heard about the applied Digital Skills courses, im thinking i can become more marketable. You dont need to be a computer expert to be great at this. These are skills lots of people can learn. I feel hopeful about the future now. Welcome back, everybody. The fight over the Supreme Court position is in full steam. Good morning, becky youre absolutely right there. Who controls the senate determines whether the next president will be able to push thr