Welcome to squawk on the street. Im Carl Quintanilla with david faber, sarah eisen, mike santoli at the new york stock exchange. Were going to talk about the the debate. Futures up ahead of a busy week. German expect data, bond market is closed for columbus day. A contentious debate in st. Louis last night, the tone set when both candidates entered the stage and did not engage in the traditional handshake. After that a focus on trumps hot mike remarks in 05 about women that has created turmoil within the gop. This was locker room talk. Im not proud of it. I apologize to my family. I apologize to the American People. Certainly im not proud of it. Have you ever done those things . Women have respect for me, and i will tell you, no, i have not. What we all saw and heard on friday was donald talking about women, what he thinks about women, what he does to women. And he has said that the video doesnt represent who he is. But i think its clear to anyone who heard it that it represents exactly who he is. Now, the debate last night did get to a lot of issues that are core to our viewers interests, namely tax policy, trade, even sirius, supreme court, talked about warren buffett, george sorros, depreciation, carried interest. A lot of debate and post game analysis being overshadowed by the top ten minutes of that debate last night. Yeah, a lot of vitreal of course. He called her the devil at one point. Says she has hate in her heart and said he would put her in jail if he becomes president. Also did go after her hard, carl, on benghazi, on the 33,000 emails, on speeches shes given to wall street and whether or not her ties there are going to in some way influence her to not go after certain things that she said she has, mike. So, you know, and she didnt respond a lot, as she didnt in the first debate perhaps to a lot of his provocations. Thats right. You know, in a different debate maybe the news if its news that donald trump said, well, of course i didnt pay taxes for all these number of years after that 1995 tax return, but then he seemed to say hes paid hundreds of millions in taxes thereafter. That might actually have made headlines, but i think if you look at the markets and the way they opened on sunday in the futures pop, this was the markets real first reaction to actually price in whatever happened in that friday night revelation, right . I was going to say the same thing. I think you have this incremental of pricing in, okay, its still clintons election to lose. And that happened in the currency markets and the stock markets, at least tentively. Yeah, because for the Foreign Exchange market opens around 3 00 p. M. , 5 00 p. M. , starts getting going on a sunday. And you saw an Immediate Reaction in the mexican peso. That was before the debate. And the peso surged almost 2 . Still down 9 so far this year on the idea if trump becomes president mexico gets hit the hardest economically. So when you look at the rally in futures, which has picked up steam all morning long this morning, the clinton rally we saw the last time after the debate, this one feels more about the weekend tape because you started to see the Market Reaction before the debate. The narrative on the debate, i mean, financial times, a lot of other papers are saying after a tough weekend trump managed to stop the bleeding. That seems to be the big sort of headline story. You just heard larry kudlow a few moments ago on squawk talking about trumps ability to thread the needle, as larry said, delivering an economic message, a message about tax and trade while addressing the tape revelations for friday night. Hard to separate what futures are doing from the race itself. Its a morning of a lot of upgrades on the sell side, which were going to get to. And of course futures and markets are complex instruments. Discounting a lot of different things. Very blurry. The stock market has been in this trading range. Weve been kind of trapped here since july even as the president ial race has been very volatile up and down. I dont think you can basically say thats exactly whats going on with the markets. But incrementally, i think you do have a way to the evidence approach where the market is kind of leaning in this direction of saying maybe theyre getting closer to having some certainty about the outcome. We also saw oil turn around. It was down this morning. And we have an important meeting going on in energy sort of convention in istanbul where youre getting a lot of official comments. And some of them are comments about how russia and other nonopec producers might actually comply with the agreement with opec to cut production levels. And now were seeing crude rally 1. 5 . We see the stock market at session highs, we were below 50 this morning now were back above that level. Right. Of course coming off an employment number as well that was a bit below expectations on friday but certainly doesnt seem to have stemmed those who believe were going to get a hike. December. Before the end of the year. Yeah, because we saw wage growth. Which was good. We saw the Labor Force Participation tick up. And while the headline was slightly disappointing of 5 Unemployment Rate still represents a lot of progress. Stanley fisher speaking over the weekend in d. C. , the imf meeting saying actually september was a close call. And he said to continue to expect gradual Interest Rate increases. For more on the debate last night, lets get to our chief washington correspondent john harwood who is in st. Louis. Good morning, john. Good morning, carl. You know, as you guys were suggesting, the context for this debate was a weekend which donald trump was in freefall as more and more republicans came out and repudiated, denounced him, many urging him to quit the race in the wake of that access Hollywood Tape that came out. Now, the two campaigns had different strategies going into the debate. Hillary clinton wanted to keep that momentum going, appeal to moderate republicans, to women, the College Educated voters by saying that we see and have seen throughout the campaign what Donald Trumps really all about. And he tried to rally his base by redirecting fire to hillary and to bill clinton. What we all saw and heard on friday was donald talking about women, what he thinks about women, what he does to women. And he has said that the video doesnt represent who he is. But i think its clear to anyone who heard it that it represents exactly who he is. If you look at bill clinton, far worse, mine are words and his was action. His was what hes done to women, theres never been anybody in the history of politics in this nation thats been so abusive to women. Now, we saw exactly the same dynamic when the flashpoint economic issue of taxes came up. She argued that shes only raising taxes on the top and donald trump as republicans have for years said when she says shes raising them on the top, that means shes going after your wallet. Were cutting taxes for the middle class, and i will tell you we are cutting them big league for the middle class. And i will tell you Hillary Clinton is raising your taxes, folks. You can look at me. Shes raising your taxes. Really high. And what thats going to do is a disaster for the country. People like donald who paid zero in taxes, zero for our vets, zero for our military, zero for health and education, that is wrong. And were going to make sure that nobody, no corporation and no individual can get away without paying his fair share to support our country. Now, there was nothing in that debate that suggested that donald trump is expanding his base, though he did rally his base. Now, the problem is that hes behind. We have a new survey monkey nbc News Survey Monkey tracking poll showing him down five nationally, thats before the full impact of the weekend revelations came true. Now, donald trump did succeed in preventing his running mate, mike pence, from quitting the ticket. Something that had been speculated on over the weekend. Mike pence was just on fox a short while ago where he was that institutes a small victory for donald trump, but not one that changes the trajectory of the race, guys. So, john, when it comes to the Party Fractures that we saw over the weekend, the pulling of endorsements from the likes of mccain, the comments from fi n fiorina, condi rice, what do you look ahead . Im going to continue to look at more of those as pressure is put on republican members in close races, theyre going to be watching the polls and if they see erosion, theyre going to feel more incentive to bolt, also if there are additional revelations which everyones speculating about but well wait and see if they happen, other tapes, other women coming forward and saying that donald trump did things that he said last night he had not done. All of that makes this a very soft moment where republicans, theres some pressure to leave. It was slowed down last night. But hes in a very vulnerable state with other republicans. And hes made it quite clear, guys, that hes willing to attack those in his party. He put out a tweet yesterday saying he was being attacked by selfrighteous hypocrites whose poll numbers and elections are going to go down in defeat. Now, that is not a recipe for getting the Republican Party mobilized in turning out to vote. And it has consequences not only for him but for the republican majority thats in the house and senate. Where is paul ryan . Its sort of confusing. He denounced the statement. He canceled trump over the weekend at an event in wisconsin. Are we still waiting from him to hear him elaborate on his position further . Yes. Theres a Conference Call that paul ryans going to have with House Republicans this morning at 11 00. Dont know whats going to happen there. I would be surprised if paul ryan pulls his endorsement. Hes got a tough balancing act as a leader of the party to try to prevent the collapse of the party turnout operation. But what we saw from ryan was consistent from what weve seen in the campaign. Hes trying to protect his own reputation by putting some distance between himself and trump. This was especially strong distance. He said he was sickened by what donald trump had said. He disinvited him to a high profile event in wisconsin. But its another step institutionally for him to come out as the speaker and say i pull my endorsement. That could affect a lot of members, not just paul ryan. John harwood, well be talking to you later in the morning. Appreciate that very much. Our john harwood in st. Louis. When we come back today, twitter slides again, plus a new twist in the mylanepipen saga. We will fill you in. Later on an excuse i with at t mobile ceo ralph de la vega. Take another look at the premarket up triple digits ahead of earnings season as alcoa and the banks report later in the week. More squawk on the street from post nine in just a moment. Hey gary, what e you doing . Oh hey john, im connecting our brains so we can share our amazing trading knowledge. Thats a great ide but why dont u just go to thinkorswims chat rooms where you can share strategies ids, even actual trades i know. Your brain told my brain thbefore you told my face. M, blueberry . Tap into the knowledge of other traderon thinkorswim. 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Together, were building a better california. Twitter shares are on the move. Theyre sliding here in the premarket again down double digits on reports that potential suitors are now unlikely to make a bid for the social media company. This of course comes after they slid about 20 at the end of last week on reports that certain players that had been interested are no longer we need you to update us here. It was september 23rd when we first reported of course that after receiving expressions of interests from both salesforce and google, twitter had begun conversations with those companies about a potential sale of the company. The market of course reacting quite positively to our report at the time, sent shares up dramatically. It was reported at the time while some of those conversations did include the idea of a premium bid based on at least what was then a price of 18, the stock went far, far of course beyond that as high as 25. In recent days others have reported that google has stepped to the sidelines. There was reports of some interests from disney. I was never able to fully confirm there was great interest there, but theyre also reported to have stopped sort of conversing. And we know that salesforce got a good deal of heat given how aggressive it had been in its posture towards potential twitter deal from own shareholders about pursuing twitter. So were left wondering what exactly the future of the company will hold. People close to the situation had told me as late as last week that beyond those three companies that were just mentioned there were still multiple parties that were interested in a whole company deal. But its unclear who they are and what will happen there. And right now they dont have a great deal to share of course. It would be easier to sell off a 17. 50 price, mike, than it was 25 price. One thing ive never been able to determine is what twitter wants and if the bid if there had been or at least conversations which we know of were indicating interest at. Yeah, what about the idea of the twitter board not necessarily being entirely behind the idea of putting it up for sale, right . I mean, is there kind of unanimity on the board that says, look, this is the process, we want to pursue a sale process or we had focused on the september 8th Board Meeting in part because i learned that and reported that there was a faction of the board given the lack of top line growth at the company and potential by the way you would have an activist shareholder, mike, get into the shares and start moving them towards the sale lets call it next year, the window i think for actually nominating opens around february 1st, the board was pushing towards that, particularly after having received those expressions of interests in particular from salesforce. So its unclear to me where a board now would feel given nothing has changed on that front. And the prospect of activists you could still argue was there although if they dont feel that there is a likely suitor that would come to the fore should they say were no longer for sale, its not clear what their position would be. Again, we have to see how the quarter is. Pop 3 today. Stock had lost about 8 billion in market value as a lot of this chatter through september and october built up. Its kind of tried to rebuild that a little more. It shows you what the street wants in the way of one potential buyer anyway. I wonder if all the politics is boosting twitter at all from a monetization. I mean, this was the most debated the most tweeted debate of alltime. Twitter put out statistics. Trump and clinton have both become quite active in terms of their communication on twitter. Its just, its hard to put that next to the fact that twitter can grow its user base or its revenue number. Right. And you have this discussion of just what its worth at a time when were all glued to it during this campaign. Brings to mind what jeff weiner tweeted last night, twitter has its challenges actually this morning, but last three days remind how essential it is digital town hall changed how news is distributed and discussed. Thats exactly the point trump made last night. Take a listen. Tweeting happens to be a modern day form of communication. I mean, you can like it or not like it. I have between facebook and twitter i have almost 25 million people. Its a very effective way of communication. So you can put it down, but it is a very effective form of communication. Im not unproud of it, to be honest with you. Hes not unproud. Makes you wish hed gone onto say how you monetize that. That is the key question of course we brought up and jim cramer has certainly been at the forefront of this that the idea those looking at twitter particularly from the salesforce perspective were not necessarily looking at it as a media property as much as an incredible store of value of data which is becoming increasingly important as we move towards Artificial Intelligence and the engines that create that, their need for constantly having more and more data. You know, well see. I am told that inflection actually moving upward in terms of daily average users for twitter. But were going to get the report from the company in a couple weeks on its earnings which could prove very important to its future as well. All right. When we come back well check in with art cashin, what to expect from todays trading as we count down to the opening bell. Dow and nas down four out of five. More squawk on the street from the nyse straight ahead. Oing on . Heyllis. Im val, the orae mon. Val from va . Ye, val oya. Quk queson, what are voya tirementquirre doing in house . Yoknowto show thimportceof savi. Wertting away acorns. So yre so of like a Spokes Person . No, im more like a metaph. Okay. No, im. Yo a sposmetaphor. Ye. Ok. See how can hp u organid at voya. Com. Enjoyour phone you too. inn monologue all right, be cool. You got thamazing new iphone 7 on the house by swching to at. What. Aand you got unlimited data becau you have directv . . Okay, ju a few more steps. Door its cool door gethe iphone on us anmitedata its cool when you switch to at andave directv. Welcome back to squawk on the street. Less than eight minutes to go before the opening bell here. Lets bring in art cashin, director of floor operations with ubs. Art, triple digit move here in the premarket higher for stocks. You got oil rising, politics in play, w