Out of 5 segs laeout of 5 segs s out of 5 segs laessions last we. A lot of that potentially around the possibility of vaccines. Well talk to dr. Scott gottlieb about that pfizer already saying that its made several hundred thousand doses of its vaccine they could have 100 million ready by the end of the year if they receive approval. Lets look at whats been happening in the treasury market this morning as well last week you did see those treasury yields under some pressure this morning back a little higher yielding 0. 774 . Thanks, becky busy day ahead lets look at the squawk planner. A group of Oil Ministers are meeting today. Theyll be talking about the weakening demand and increased output by some members immediate action is expected on the economic front, fed chairman jay powell will be speaking at the International Monetary fund meeting at 8 00 eastern time then we have some earnings news. Ibm, the big name to watch its going to be reporting Quarterly Results after the bell of course the big story right now is in washington, joe. Yes average blue, used to be big blue, medium blue. Maybe medium blue is what we call it. Any way, we will report those numbers. The top story out of washington, House Speaker nancy pelosi is calling on the white house to reconcile its remaining differences on a new coronavirus economic stimulus package. Shes giving the Trump Administration a new 48hour deadline if it wants a bill by election day in an interview yesterday pelosi said shes optimistic even amid all the back and forth pelosi spoke with Steven Mnuchin for more than an hour about the package over the weekend whats with the 48hour deadline by the way, does that start today or did that start yesterday . Its going to be done by tomorrow i dont know about deadline i was thinking about the hourlong conversation thats a long conversation what that might be . I dont know the last time i spent an hour talking about anything you know, i we spend three hours every day talking about stuff. We do but not on the phone not on the phone for a solid hour i get they both had land lines that would have been dropped eight times. Is your cell service any good . Constantly getting dropped i have to walk around different parts of the house where do you live you know where i live youve seen the gates. You talk about them all the time the gates, the hounds. Release the hounds remember was that mr. Burns. I remember release the Montgomery Burns said release the hounds i just wonder, i guess theres a lot to talk about. God, they had a lot of conversations. Its got to be hours and hours and hours by now between mnuchin and pelosi you know, i dont know its minutia that theyre talking about. Its the language theyre really talking about. I think even in the testing we had mnuchin on the program on friday he said they would say okay to everything they wanted but theyre still arguing back and forth about the language, testing, may versus must recommended versus required. Its down to words like that thats why you end up spending an hour on the phone an hour all right. Well try it so you really have no problems with your cell phone ever . They dont drop . Sometimes if im in the long place, sure, but i organized my life like i hope others have tried to organize things in their home outside manhattan you dont say call me on a land line if its possible and you do you have one in your home never you dont have a never no kidding. I have a land line but never. I never pick it up did that work when you were in connecticut never pick up a land line never pick up a landline wow i need your cell phone service. He may have some type of double secret probation cell service like New York Times its about setting up the phones the right way there is some bandwidth still left do you have the sorkin bandwidth because youre an ace reporter theres some Important News out of china the only thing ill say if you dont have good cell service, get yourself a mini tower. You can probably get one for 150 bucks, you hook it up to the Cable Service and your Wireless Service on the phone will be perfect. We should talk about china okay. Chinas Third Quarter gdp grew by 4. 9 compared to a year ago. That was slightly smaller than the 5. 2 gdp growth economists had expected retail sales in china rose by 3. 3 in september compared to a year ago then in Corporate News this morning, lets tell you about American Airlines, planning to return boeings 737 back to service in late december, pending faa approval american scheduled a daily flight between miami and new york from december 29th to january 4th. Its already on the calendar do you have a mini tower . I have a mini tower not in new york city i dont need it, but in connecticut i need a mini tower as it happens. So you got a mini tower no wonder you act like its just normal its not called a mini tower. Its a its not called a mini tower. Its like a mini cell thing. Some portable thing you move around you can get one theyre available to anybody 150 bucks, 200 bucks, theyre available. 150 bucks, 200 bucks, then your phone will work 2,000 phone you dont have one, do you . I dont, but ill look into it a mini tower that you move around with you in the minivan i dont have a minivan. Never got the minivan. Coming up, a new report on wall street bonuses. First as we head to break check out this mornings biggest dow leaders and laggards youre watching squawk box on cnbc at calvert, we know responsible investing is hard. If youre concerned about the environment and climate change, how do you find companies that are driving the right outcomes . If you care about economic equality and social justice, which firms are addressing it in their workplaces and their communities . For nearly 40 years, calvert has delivered competitive returns by investing in Companies Making a difference because we see value in doing good. Talk to your Financial Advisor about investing responsibly with calvert. Welcome back to squawk box. Weve been watching the futures this morning on this monday morning you will see some green arrows once again. It has been a strong number of weeks for the markets. The s p 500 and the dow both up for the last three weeks in a rowf row. Nasdaq up for four weeks in a row. The nasdaq is leading the way this morning, up about 80 points for the futures. Dow futures up by 110. S p 500 up by 13 we have to talk about this headline employees of big banks, many of whom are our audience and if theyre expecting big bonuses, they may be big bow nunbonuses. Big banks are trying to manage expectations and one of the way they do that is putting money aside for loan losses in a surge of defaults. If youre an employee two years down the road and some of those provisions get pulled back or dont get used, whether that will change the bonus structure, if you will, not in 2020 but in 2021 joe . Okay. Back to the markets now and what investors should expect leading up to the election and then just after. Joining us is ed mills, washington policy analyst at raymond james. Your viewpoint at this time is that the relatively calm and actually the markets seem to be in an upward move. Not certainly not volatile. The vix, et cetera you say that the market is starting to think, which may not be consensus, but the market is starting to think well have a clear winner on or around election day thats what is most important to the market at this point joe, youre right so, a couple weeks ago people were really concerned especially as the race was tightening up it seemed going into the first debate really the question was is when will we know the winner . Weve been focused on how exactly will all the votes be counted. So as of this morning, florida is already counting all of their absentee ballots starting this week arizona, colorado, North Carolina will start counting their ballots. On Election Night what well be looking for is whether or not we get a clear indication of which direction, in this race has fallen we talk about these states as swing states because they generally swing altogether if there is a polling error, thats generally highly correlated maybe cnbc or the market or the news stations have not called the election but the market might start calling the election as early as Election Night on november 3rd right i wonder i dont know how you would interpret what the market is saying. If it goes up on Election Night, what is that telling you you know, when i look at this, what ive told clients at raymond james, there are headwinds and tailwinds regardless of who wins as it relates to a potential blue wave that is more stimulus than kind of the status quo. If donald trump is reelected, you know, that is faster stimulus i do think that the market has largely been trading on a lot of stimulus headlines so from that perspective, you know, there are kind of not traditional knee jerk reactions that we should have to this election and i think investors are taking a much more nuanced look to this election than previous years one of the things that struck me, you think the swing states seem to move the same way and that polling error would be across the board with the swing states i dont know what youre saying about whether that i think biden is still ahead i dont know whether polling error means you think hes more ahead or if its closer. Then i do see when you talk about what to expect you give equal time to a biden win as to a trump win. As far as underappreciated risk to the market, you give equal time to a Biden Victory and a lame duck trump victory. So im not gleaning anything from what youre saying here you dont know, do you no. So we right now think that joe biden is in the lead what im talking about when i talk about swinging one direction or not is that when we go back and talk about postup states if i give you eight tossup states, you should be able to come back to me and say all right, ed, you said 50 50 probability this state would go one direction or another what happens in elections is you go back in these tossup states, you go 80 , 90 in one direction or another when we look at 2016 there was polling error in the state level results. So im looking at the state of North Carolina, one of the closest states when we look at polling. And if it is clear on Election Night that joe biden has won North Carolina and the senate seat has gone to the democrat i think its an easy call to make that it is a blue wave if donald trump has clearly won that state, i think that there will be more conversation on whether or not the polls were wrong. Ultimately we are having to see if there is that hidden trump voter out there. Right now the polls would have to be more wrong than they were in 2016 for that to impact the outcome. But i think theres a lot of questions by investors on whether or not we will see that repeat and so i have to address that ed, appreciate it some of the predicted things are changing a bit we have the 17th whats today . The 19th i dont know its october, right . Yeah. I think most of the predictive markets are in the upper 60s for joe biden and kind of it doesnt always add up to 100 theres the high 30s to low 40s for donald trump in the betting markets right now for the election in the senate, its about the same for the democrats you have not looked recently. Its 59 6 on rcp average to 40. 9 thats a long way from the high 60s. If you talk to your clients today real clear politics predicted average. 59. 6 to 40 i looked this morning i think we get somewhat different predicted markets. The other one is actually thats the straight predicted market 65 to 39 thats what i was highlighting yes. All right ed mills, thank you. Thanks. 15 days. Two weeks from tomorrow, joe, election day coming up, whensneakers ar more than what you wear just around the block well look at company taking shoes to the new investment level. And oil prices this morning, theres an opec meeting today. Wti recovering at 40. 60 a barrel stay tuned, youre watching squawk bo ocnxn bc music anncr give customers access to precisely what they want, when they need it the most. With adyen, the payments platform that delivers convenience for all. Adyen. Business. Not boundaries. As people are stuck at home and stores are not a favorite place for people to be, one beneficiary is Global Resaler stockx theres a lot of sneakerheads out there. A lot of people are going online to express themselves in a way that you just cant do any other way with sneakeres and other highend footwear. As Stores Closed and inperson shopping ground to a halt this spring, consumers moved online one big beneficiary, secondary marketplace, stockx. We were surprised by what we saw as in may and june and july again unprecedented volumes in the platform valued at 1 billion, stockx says global sales came in three times higher during the pandemic than the year before sneakers as a category outperformed the market. When you look at the returns if you were in the asset class of sneakers we have other categories in the market like puzzles as a category has grown 600 . For sellers like vernon simms, selling goods has become his fulltime job. The past couple of years ill do 2 million, 3 million in sales a year when covid first hit he was worried about his livelihood he feared with Stores Closed down his supplies would dry up first. At first it was a little scary. You didnt know what was going to happen. Personal friends of mine had gotten laid off. They lost their jobs but like a month after that i had the biggest month ive ever had, the month after that was bigger than that were seeing a bit of the consumer reaction of just wanting access to something that provides happiness and joy and for many it is economic opportunity. Reporter analysts estimate the Global Resale market currently valued at 6 billion could reach 30 billion by 2030 as the category expands, so does the demographic of users postpanndemic, people over the age of 45 grew 30 with the Digital Divide being overcome, we are seeing growth in those consumers on the platform which is exciting year to date the average selling price of a sneaker is 60 a pair nike has the top five best selling sneakers this boom in the resale market points to people investing in an experience during the pandemic, something they can enjoy, collect and look forward to the day when they can leave their homes. Frank, its an amazing business i remember visiting them in detroit a couple years ago seeing how the whole thing works, how they check to make sure the sneakers or the handbags or the watches are real is something to behold the question i would have for you is how this is the question i had for the company for a long time. How expansive do you think they can get in terms of other types of collectibles . You mentioned one of the collectibles theyre getting involved in now thats expanded during this period but shoes and sneakers still are the game do you see a day five, ten years from now when theres all sorts of other things or is this a specific niche area . I do think sneakers reporter definitely a niche category a lot of us kind of enjoy not only the styling but the idea that theyre practical and some of the branding. The company said they have seen growth in watches, puzzles, apparel that compliments the sneakers while i think sneakers will always be the core business and dominate what you think about when you talk about stockx or g. O. A. T. Or stadium club, there is growth for some other categories the question is if and when the economy reopens will we go back to experiences and really getting out and doing things like taking trips and stuff . That would take some of the Consumer Discretionary dollars away from this category. All right frank holland, appreciate it are you wearing jordans right now . Im barefoot right now. Im working from home. I never kept mine clean i have tons of pairs. Ill bring in a pair, we can compare our collections. One of the things they do to make sure the product is real is they smell it. I dont know if you know about this theres a smell test so when the shoes come in to make sure theyre not counterfeits, it matters what kind of glue has been used on the shoe and how they smell. I dont know some people might think thats a little bit of a tough job. Coming up, well talk about a lot more on squawk later becky, what were you saying . I know a tougher one. When i was at the wall street journal i talked to one of the guys who worked in the victorias secret factory whose job it was to sniff the stuff that was sent back to victorias secret to see if it was okay to put it back on the market. Andrew gets his tommy johns, i was afraid to go there i talked to the guy who did it i used to cover victorias secret at the journal. I was like you have to be kidding. I went and talked to the guy excellent excellent. There is a job for that. Okay excellent. There is. My lips are sealed. Okay when we come back on the other side of this break, this mornings headlines including fedex and u. P. S. Theyre throwing red flags about commerce and this morning were in the green. Maybe thats based on some of the growth out of china and which we hope portends for us if we can get our act together. Dow up about 100 points right now. As we go to break, look at some of the biggest nasdaq winners. Youre watching squawk on cnbc 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. This was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. Good morning you need something to pick you up for a monday morning . Some stories are front and center ant Group Getting the okay for the hong kong part of its planned 35 billion dual listing. The fintech giant is 30 owned by alibab