Changes ahead of its big hong kong listing. New controversy for one of wall streets most powerful Investment Banks this time over Sexual Misconduct allegations. And then ditching sin city, yes, ditching it, one of the biggest casino operators in the world on a plan that would focus the company entirely on mccaw and singapore. Youre watching Worldwide Exchange right here on cnbc on tuesday, october 27th, 2020. Viva las vegas good morning im dominic chu in for Brian Sullivan today. Lets begin with stock futures right now showing relative stability after big losses yesterday. You can see here the s p implied higher by just about seven points the dow implied higher by 37 and the nasdaq by 36 not large gains by any measure implied. However, after yesterdays losses they could be viewed as somewhat stable. A closer look at the dow futures over the past 12 hours were well off our session highs as you can see here and just a hair below the lows of the level we saw in the overnight session as you can see here, still, 32 points for the dow futures at this stage. The major averages are coming off their worst day in weeks. The dow shedding some 650 points for its big u. S. Oneday drop since september 3rd. The move erasing all of its gains for the entire month of october. Were now below the 28,000 mark for the dow for the First Time Since october 6th. Now, those sharp moves lower as well for the dow transportation index, the russell 2,000 small cap index, both seeing their worst days since late september. The broadbased selloff coming as u. S. Covid19 hospitalizations climb higher, and to their highest levels since august currently, there are 12 states reporting record levels of coronavirus patients, that is the highest since mid july now we have Team Coverage se, i or overnight session for us. Around the region, negative. The japanese market closing flat we did have the australia and new zealand off sharply. Those two markets really spooked by the rising number of covid cases. But we did actually manage to see some gains coming through for the Mainland China market, the shanghai composite ending the session up. 1 hong kong is where all the action was today we of course had earnings out front and center from our banking giant hsbc the hang seng did close lower. We did see a big pullback in q3 net profit at hsbc down 36 but the number better than expected at 3. 1 billion. The bank is considering reinstating its dividend it sees low rates continuing for quite some time. Elsewhere, economic numbers coming out of the south korea and this influenced trade in the south korean currency today. Off by half of 1 but we had better than expected q3 gdp numbers. Economic growth fastest rate of growth since 2010 that 1. 9 number a quarter on quarter figure dom, back to you. Matthew taylor, thank you very much. To the early trade in europe, karen cho in our london news room. Good morning. Good morning. We had another day of selling transpired in europe not expected because we had a steep selloff yesterday. So we were anticipating early on futures a slight recovery. Earnings are helping minimize some of the damage, but you can still see across the board were trading weaker down. 8 in the French Market still concerns around the spike in covid infections. Hsbc is leading the charge to the upside of some of these major markets. The spike of 6. 1 travel around twomonth high on the stock market as hsbc beaten Third Quarter forecast with the pretext profit of 36 billion many 785 million and encouraged some here concerned about dividends and future switching net income the company dipped in the Third Quarter with the swiss pharma giant it is well placed to hit fouryear target that stock grinding lower. This was one to watch this morning the bp it is still trading high, not quite the 3 that was anticipated before the start it beat forecasts with 100 million replacement cost profit in the Third Quarter analysts predicted 120 million loss the british oil majors refining margins remained under pressure while warning Fourth Quarter production was likely to decline. So if you look at the numbers on the stock price, its still down 56 for the year trading around 25year lows. Back to you, dom. Energy and Financial Services in focus there very much so. Karen cho, thank you back home, sticking with Financial Services, Goldman Sachs back in the headlines, facing serious allegations lets send it out to Bertha Coombs for more on that and other top corporate stories. Good morning, bertha. Good morning, dom the Investment Bank allegedly attempted to cover up allegations of workplace Sexual Misconduct by the banks global head of litigation the lawsuit filed by marla crawford, former associate general counsel at Goldman Sachs claims an executive used his position of power to romantically prey upon a much younger and female colleague crawford attempted to speak up about the alleged misconduct the lawsuit says and was subsequently fired after ten years of what she describes as, quote, Exemplary Performance sources tell cnbc meantime, ant group will close its hong kong institutional Book Building process one day earlier than expected due to Strong Demand for its recordbreaking ipo. The alibaba backed fintech giant is chairing out dualing listing in shanghai and hong kong expected to raise a record breaking 34. 5 billion and in washington, House Speaker nancy pelosi says shes optimistic a stimulus deal can happen before the election after speaking with Steven Mnuchin for nearly an hour yesterday the two sides appear still divided, though, over Virus Testing and tracing plans. Dom, where have we heard this before that theyre close to a deal i feel like its deja vu all over again, right, yogi berra style. Exactly. Washington, d. C. , one week out from the president ial election and more than 63 million, 63 Million People have already submitted their ballots as of last night thats an increase of 4 million more early votes than were cast some four years ago. This as the Senate Confirms judge Amy Coney Barrett to the highest court in the land. Just in time to decide any possible election disputes that may arise one week from today. Nbcs tracie potts joins us now from washington with all those story lines. Tracie, good morning. Reporter dom, good morning lets repeat that. We are now one week away from this highly anticipated election and the candidates continue to cross battleground states today. Were going to see joe biden in georgia headed down south trying to pick up that red vote in both rural and urban communities. This is one that President Trump won by just 50 four years ago georgia in the past has had a much larger republican majority. So democrats are thinking they might be able to pick this one up and then were going to see President Trump today in the midwest, michigan and wisconsin. Hes got a trio of events there trying to hold on to those longtime democratic strongholds that he won four years ago hes spending time out there meantime, we are watching the u. S. Supreme court today to see the private ceremony that will officially swear in justice Amy Coney Barrett as the next justice of the u. S. Supreme court. The president said he wanted this done before the election. It is done there was an unofficial ceremony at the white house last night where the president talked about her credentials. Justice barrett talked about being impartial. Democrats fought this unsuccessfully but picked up one republican vote. Its the narrowest vote we have seen in decades confirming a Supreme Court justice. And as you said, not only will she be there to decide any election issues and there are already some regarding balloting coming before the court, but shes also going to be there for a very important Affordable Care act case, healthcare case happening a week after the election. The stalling out of judge merrick garlands approval process probably played into that close vote there on partisan lines tracie, im wondering, if you look at the way that the beltway is shaping up right now, what exactly can we expect with regard to lawmakers with regard to positioning ahead of this election, just a week to go, what is going to be the push from lawmakers in washington, d. C. With their constituents what messages will we hear one week before the election well, theyre probably going to be deeply partisan because thats what were seeing in Washington Republicans trying to hold on to and build their stronghold democrats trying to do the same. Its not clear how much of a middle there is, especially given the numbers that you shared earlier, these recordbreaking early voting and absentee ballot numbers. This election is already well under way and a lot of people made their choices. Tracie potts, one week to go before the elections thank you very much with the latest out of washington, d. C. When we come back on the show, much more on the markets and possible turn around tuesday with gina sanchez, where she is finding value in the rubble that we saw yesterday. Plus, the good, the bad and the ugly when it comes to earnings. The stock not getting any love this morning in our mystery chart. Well tell you what that is later on. Then tracking zeta as the hurricane slams into mexico before turning to the u. S. Gulf coast, yes, another storm bracing for impact here. A very busy hour still ahead when Worldwide Exchange returns after this i get chills every time i hear that music. Stocks, good, bad and the ugly Varonis Systems is soaring today. The maker reporting Third Quarter reports that beat forecasts as subscription revenues nearly doubled. The company is guiding Fourth Quarter earnings well above analysts estimates those shares up 9 thats good. Now shares of twilio are lower despite the company reporting Third Quarter revenues that blew away wall street forecasts. They also reported a smaller than expected adjusted loss. The maker of Communication Software siting gains in healthcare and Financial Services twilio stock is already up 200 so far this year, its down 1. 5 right new. Thats the ad. Shares of chegg are in the red even as the Online Education and digital textbook quart reported Third Quarter results that beat analyst forecast even with the declines in the premarket the stock has more than doubled this year but its off 5. 5 so again, a little bit of interesting moves there. Thats the ugly. Turning back to the broader markets. Stocks looking to bounce back following yesterdays steep selloff on rising covid case figure right now you can see that investors are grappling with the final week ahead of the election you can see the moves are moving around a little more mixed the stalled stimulus talks playing part of the story as well as peak earning season here for more on how to navigate all the noise, im joined by cnbc contributor, gina, always great to have you. Lets talk about whether or not we are seeing this heightened volatility regime just start in the week before the election can we expect more of the same yes, dom. I think this is going to continue this volatility that were seeing is being fed by a push and pull obviously you have the push, which is the earnings actually for the tech stock which is are coming this week are expected to be quite good. We have already seen some very good numbers and will probably continue to see that well get a gdp print for q3 on thursday thats expected to be very solid, 34 annualized growth however, that doesnt tell the whole story. Most of that recoup was in july and august and september were already slowing. And so while that number probably can help push the market, whats pulling the market back is as you said rising covid cases and the continuing drama of the election gina, we have seen over the course of the past two or three weeks this trend higher in covid cases, the record numbers were anticipated, why is it now were seeing the kind of downside move that we saw yesterday . Yes, earnings play a story, covid plays a story, the election plays part of that story, but why yesterday and can we really kind of look at that as a blueprint for the next week and a half or so well, i think whats really pushing the markets and whats pushed and pulled the markets over the last week and a half, two weeks has really been the stalled stimulus talks i think that has really been the lynch pin that the markets need to see a stimulus plan of some sort the idea that congress may fail to do this before the election the likelihood it actually gets passed during a lame duck session is very low. Were looking at a situation where we can see that the numbers are already starting to slow theyve been slowing for the past two months and will probably continue to slow in the face of rising covid cases that get even worse we need a plan and we need it now. The idea here is that the markets are still kind of near these record high levels theyre not that far away from it this pullback here has it gotten you excited about any part of the market is it here in the u. S. Is it outside the u. S. Is it a certain sector, certain stocks what has you stirring with regard to those animal spirits what do you want to buy . Well, right now its challenging because weve seen this continued support for value stocks and yet growth has continued to dominate for the most of the pandemic i think once we get past the election, i actually think growth may reemerge, particularly if we get a biden win, i think theres more sort of likelihood that the markets will take that as a positive over getting control over this virus sooner rather than later that means you can look forward and you can start to discount a recovery sooner rather than later. We are right now in a period during which some of these stocks may actually become reasonably were not going to call them cheap but lets just say more affordable. Is there something, gina, i know youre a macro person at heart, is there anything out there in the treasury or credit markets that has you at all worried . They seem to be relatively stable compared with other parts of the equity markets. Are bonds telling us anything . Well, you know, the bond markets i think if you look, for example, at the debt that corporations have taken on, i dont think that the credit markets are properly priced with regard to the risk thats baked in there i think if you dont get continued stimulus and dont get continued support, theres actually more danger right now in the credit markets than there actually is some of these over big equity numbers that weve seen all right so i would actually still take equity over credit. Equity over credits there gina sanchez, thank you very much always good to get your thoughts there. Still on deck for the show here, we speak with the editor in chief of investopedia, sharing their portfolio perspectives ahead of the big president ial election. Todays big number 25 billion. Thats how big the u. S. Sports betting market will grow to by 2030, according to research by Alliance Bernstein the firms estimate assumes full legalization will reach 80 of the u. S. Population. Welcome back to Worldwide Exchange. Lets check on this mornings other top headlines. Francis rivera in the new york news room with the latest. We start with tens of thousands of people in Southern California who have been forced to flee their homes as fastmoving wild fires tear through orange county. The flames spurred on by santa ana wind gusts of almost 100 Miles Per Hour the two fires that began yesterday morning have already claimed thousands of acres and caused two firefighters to suffer critical injuries wisconsin residents who vote by mail will have to get their ballot in by the time the polls close on election day if they want them to be counted. On monday, the Supreme Court issued a 53 ruling that the state cannot count mailed ballots that arrive well after the polls close. It comes after a district judge ordered the state to accept ballots that arrive up to six days after election day. Voting Rights Groups and the state of National Democratic suing to extend the deadline siting problems arising from the pandemic now to a New Discovery on the moon nasa says it has found water in sun lit areas. Before water had only been discovered in the darkest, coldest regions. Well, it is still a very small amount this could become a resource that helps astronauts traveling deeper into outer space. When it comes to the ultimate social distancing, at least it helps to have a little few droplets of water here and there, dom. I mean, so many questions if theres water there, there could be life. Life. Right. You got it. Mars, moon, we have colonies soon who knows, francis im just saying. Its way out there. Francis rivera, thank you very much for that well see you soon. As we head out to break, watching shares of j. M. Smuker and b g foods. Smuker says it is selling its chris koe brand shortening remember that stuff to b g to 550 million move in cash. Exiting the baking category in favor of pet foods, coffee and snacks new jerseybased b g