Inventories are on the way. Our road map begins with the election six days away. Polls show pretty much a dead heat. Hundreds of economists including Prize Winners urging voters not to vote for trump in an open letter. Alibaba shares are on the rise this morning, the Worlds Largest retailer showing strength and cloud and in mobile. And big beat for time warner, company also raising full year forecast as it gets ready for that merger with at t. Call is wrapping up and well get you headlines on that. But first up, futures are moving lower a day after the s p extends its losing streak to six. Data from adp shows private sector added 147,000 jobs last month, that is below expectations. Meantime, the feds latest Interest Rate decision and policy statement 2 00 p. M. Eastern time. And of course six days until the election, jim, the past six days on all of the assets i just mentioned, is that all jitters ahead of tuesday . You know what, im going to say it is. I was talking with my friend sara eisen off camera, people should watch your show at 5 00 this is hilarious she and wilf go right and back on politics. And there was a Conference Call last night yesterday by craig arnold, new ceo of eaton, i dont think people realize how much ceos are trying to avoid talking about politics. They will do everything they can to just say be straight. He finally came out and said it, he had a bad quarter. Sorry to read this but i have to. Were struggling with data feeds very much like others but we think the message that kutds through all these conversations is uncertainty. Think about any person running a Business Today and making a longterm capital commitment in the face of an economic environment and president ial election thats been as noisy as this one with as much uncertainty around the environment were going to be dealing in, its a little bit understandable that companies are pausing and waiting to see how things play out before they make a decision around major capital multiyear commitments. Bingo, thats whats happening. And i think every ceo just like they have that stuff at the beginning where they say that stuff, you know, like this is the future, blah, blah, blah, they should have that. Because this is the first guy honest enough to say this is whats happening, people. Now, its not only Electronic Arts call because people still play video games. Its not on the dominos and pizza hut because theyre still eating pizza and its not on the molls molson because theyre still drinking beer. The only stuff still selling is video games, pizza and beer. You need to look no further from this letter that carl referenced to understand why there might be some uncertainty if theres a trump presidency. The economist saying things like his statements reveal a deep ignorance of economics and inability to listen to credible experts who mislead fake and Economic Statistics pushes fallacies about the trade competitiveness, promotes magical thinking, conspiracy theories over sober assessments of feasible Economic Policy options. Fascinating stuff, but it goes to the point that youre raising, i think, and its been raised by that ceo which is simply we dont know what it will be like. I see you that speech and i raise you with a tweet from Bernie Sanders about insulin up 700 when theres a price war n on insulin. I dont know if you saw 41 open at 35 because theres a price war. So you have a senator whos going to be incredibly powerful, right, if everything goes his way in the senate. And he tweets that a lily drug, which hasnt had a price increase, right now theres a price war, is too high. Which you could argue it is. And all the drug stocks get completely hammered. So weve got economists who dont like magical thinking which by the way year of magical thinking a very good book, weve got a tweet that destroys the drug stocks and in this environment what are we supposed to do . Lets pick up some united technologies, i feel great. You are not in a buy the dip . I feel awful. Youre not in a buy the dip mood. I bought the cubs going in. Im thinking about buying i bought the cowboys on sunday. Buy a lot of soup. No, Campbell Soup is having a terrible quarter. See, there you go, right . Why dont you buy health care, eli lily, sorry. Right. Dominos delivered early on in the quarter. Estee lauder, people have to look good when they step out because of selfies. Instagram oh, im sorry, people dont do instagram anymore. They do snapchat. Snapchat is from its 15 to 18yearolds who want what you want. Instagram is the demo. Thats not right. Snapchats got the demo. Yes. They dont have the demo and the advertisers dont want it. What . What . The advertisers want instagram. Im telling you this. Really . I saw a story last week that goldmans advertising on snapchat. And i saw a story yesterday that j. On insta. Is anyone advertising discovery . Not enough i guess. Internationally its a bit tougher, yeah. And in general. Although the advertising environments not that bad. No. Im coming back to this notion that this has become a very tough quarter as it goes on. And if i look at even the companies that reported earlier, they werent so close to the election, they were precomey, and precomey had some better numbers. You now have the Conference Calls themselves if you listen to them, like the guys are like, well, you know, could you speak up, please. I did make a list of companies raising guidance today. Zillow, etsy, time warner and square. Yelp had good numbers. Terrific. Those are some new economy companies. Square, those were all very good. Square had some very good things to say. Yelp by the way its radical transformation. Time warner im going to leave to you. The Electronic Arts call was incredible. That stock was just crushed in after hours. And then you listen to the call and you say well who are those morons selling it. The call was extraordinary how good it was. People love playing video games at this moment. By the way theyre not even sprucing their house up. Theyre just sitting there, we know that because home depot goes down every day. Theyre not wearing new clothes. Theyre wearing old clothes. The only thing good judging from tide numbers from proctor, theyre washing their clothes. And febreze, maybe their space smells better. Activision is tomorrow. I think activision and take two will be very good. Yelp is the confusing thing for me because that would indicate periodically they go out for a meal. Well, its hard to get out of the bunker. Well, you know, yelp, they have delivery services. Oh, okay. Meantime, the battle between Hillary Clinton and donald trump intensifies with less than a week to go before election day. Five days, 14 hours and 52 minutes. Lets get to eamon javers live in washington with the latest. Hey, eamon. Good morning, carl. With less than a week to go you get the sense this is a race that is tightening in its final days. Take a look at this the Washington Post abc poll thats out showing a dead heat here between Hillary Clinton and donald trump. This is conducted october 28th through the 31st. Hillary clinton 46, donald trump 46, gary johnson at 3 and jill stein just at 2 there. So a dead heat according to that poll. But i want you guys to take a look at this note that Goldman Sachs put out last night because i think its important to get a sense of what wall streets baseline expectation is. Goldman sachs says, secretary clinton is still seen as twice as likely to win the white house next week as mr. Trump. Nbcs own battleground map shows Hillary Clinton with 274 electoral votes, thats more than is needed but is down from last month. They also show that donald trump has got a total of 180, thats up from 157 in mid october. So that gives you a sense that this is a tightening race. Wall streets expectation i think you can use that Goldman Sachs note as a proxy for what the street thinks generally is going to happen on tuesday. So a tightening race, wall streets expectation still is a Hillary Clinton victory. Anything different than that would be a miss by wall street expectations lingo. So look at it in that context that the experts here still think Hillary Clinton is headed for a win here but a very, very dramatically tightening picture. And that adds to all the tension going into tuesday, guys. Eamon, well be talking to you soon. Eamon javers in washington. We talked to mark cuban on squawk alley yesterday. He put a hedge on some of the biggest hes ever had because of uncertainty related to the election. Would you be doing that . Would you be buying gold . I feel if you feel this way, and others feel this way which means hedges are too expensive. Now, mark plays with a lot of house money. If youre not, then you should go into cash. Theres some puts. You could have bought puts a few weeks ago not that expensive. Precomey, its pc yeah, prior to comey. But before comey plenty hedge funds moved to more cash. Not all cash. For people at home and for hedge funds actually i would raise cash, did that for travel trust, not hedge fund. If you could do fancy, should gold go higher here. Im sucking in with the gold stock which is are terrible but gold itself is interesting. I just feel like were in a moment here where it doesnt really matter until this thing is over. Particularly in health care. What if trump wins . What if trump wins . Yeah. We readjust. Business as usual. Find stuff that works. We readjust. You think we go down november 9th, 10 . Theres still a lot of people feel its like 538. People still feel its a done deal for hillary. Thats where goldman is getting their stuff done. Its not like they have proprietary models, theyre going off the websites everybody goes to. Although this the Washington Post poll not only has trump and clinton tied now, but trump with an eightpoint advantage on honest and trustworthy. Its also get out the vote ground game gap that were trying to make sense of. By the way, we heard from peter thiel on monday endorsing trump. Yesterday we talked to cuban and we did ask him what a Trump Victory would mean for the markets. If hes going to say things that are stupid and offensive, that could lead to some sort of military action, not originating from the United States but from another country, that is the worst thing possible for the stock market. And that uncertainty because, you know, you have a candidate that doesnt know when not to talk, there isnt anything worse for the markets because that complete uncertainty, you know, the idea that what he could say tomorrow could impact markets worldwide, thats going to pull people out of the market. And part two to that is if we see any uptick in Interest Rates at all, then its going to look like a great deal just to put our money into treasury or bonds or something very safe. So thats his point is that investors are not accustom to discounting what trump says, whether its bluster, whether its truth. Well, yeah, i follow mark closely for, i dont know, for 25 years. I mean he speaks his mind. Hes been right far more than hes been wrong. Its just, again, i come back to the idea that in any regime there are things that work and things that dont. Initially you have a big downdraft and then you take a look. Most people are in index funds at this point. Right. So if the s p goes down 10 . Do they want to step aside . You tell them to step aside and then it comes back up and youre the goat of the game. I mean i remember i told people to step aside dow 11,000, dow 10,000, goes to 6,000, said it was bottomless im with the late mark haines, say you idiot, you got us out at 10,000. When you tell people to get out, be careful. Thats why im saying, look, well find a way to deal. If you want to raise some cash, that certainly makes sense. Not a lot of things are working here. But if you just say get out, thats been a suckers game even if you tell them. Election night youre going to want to keep it here for all of that. Our special election coverage begins tuesday 7 00 p. M. Eastern time and continues well into the evening. Who knows, maybe into the wee hours. We will find out on tuesday. Time warners out with earnings, the first since agreeing to be acquired by at t and that 58 billion deal. Were going to get to that after a short break. Well get to square. Baba, clorox, microsoft has an event today at 11 00 a. M. Eastern time in new york. More squawk on the street from post nine in a minute. Siness bey when growth presents itself . American express open cards can help you take on a new job, or fill a big order or expand your office and take on whatever comes next. Find out how American Express cards and services can help prepare you for growth at open. Com. Find out how American Express cards and services hthis bad boy is a mobile trading desk so that i can take my Trading Platform wherever i go. You know that thinkorswim seamlessly syncs across all your devices, right . Oh, so my custom studies will go with me . Anywhere you want to go the markets hot sync your platform on any device with thinkorswim. Only at Td Ameritrade time warn heer out with fir Earnings Report since agreeing to be acquired by at t. Quarterly results were ahead of expectations in fact. The Third Quarter showing a company that some would say is delivering on promises made a couple years back when it was in that fight to defend itself against foxs bid to acquire it. Better than expected tax rate meaning a lower tax rate or tax benefit certainly seemed to help, but overall adjusted eps of 1. 83 or 1. 55 including that benefit better than anticipated. Generally saw more strength than had been anticipated at the turner networks. Hbo a little lighter in some of its results than had been thought by some of the analysts who follow the company. But overall, guys, a very positive report from time warner. The question though continues to be what are the chances that at t succeeds on the regulatory front getting its deal through. Many say it should given its vertical integration though there is a story today in the wall street journal talking about how nothing how this idea of zero counting against your data charges when you take at ts streaming offerings could be an issue. And then theres also this continued question, is there anybody else outd there . Thats what i wanted to ask you. I see that and i say, hey, you know, maybe thats a pretty good deal. And the question of course that has come back to focus on apple. In fact bewkes asked on the call were there any companies showed interest in acquiring time warner, mr. Bewkes answer was lets focus on at t. What i can tell you right now according to people familiar with apples thinking, its not interested. Apple is not interested in buying time warner at present. These things go on for months and months, this regulatory reviews going to take at least a year. The deal will not close, certainly if youre in apple, you watch the stock price and see how things progress, again, apple not interested at this time. And it doesnt appear there would be any other potential interest. Google had been mentioned at one point or another, but right now its at ts, it will be at ts, and the question is do they get it through, what conditions do they agree to in order to get it through the regulators. Can i ask you a readthrough . I know disney reports soon, but is time warners got sports programming. Time warners got some time shift program. Time warners got movies. This was a really good quarter for that mosaic. Yeah, it was. Disneys got a similar mosaic and yet people just keep selling the stock of disney. When i look at this what time warner can generate cash flow and earnings, why should i not think i mean, i know you come back, jim, espn is disney. But thats what it is. S espn is the main Cash Generator for disney and the subs have been going down. Its over time and thats real. And thats expected to continue to some extent. And im sure thats gotten the attention of the gentleman who runs disney. No, i know, there was a my guess would be neilson hes trying to figure it out. Just putting it out there. The espn sub sns. Yeah, talking mr. Iger thinking what can we do to make sure this is not a real threat to us. Not to mention 20 months left in his term. Right. What can i do prior to my leaving . And, you know, the fact they were serious for twitter sends a message to me. They didnt follow through, but they were serious. Right. Just putting it out there because people are going to say, wait a second, this wasnt so bad. But espn is much more dominant than sports programming. And more important. Just putting it out there. I hear you. You know where im coming from. You know i do. When we come back well get cramers mad dash, count down to the opening bell. Take another look at the premarket on this wednesday, talk more about oil, adp today was slight disappointment and that fed Decision Just a few hours away. We got a mad dash for this, what are we . Were on hump day. Thats always nice. That is a positive. You want to talk a little game stop, which is not a positive this morning. No, its interesting Electronic Arts reported great numbers last night. Old days you think thats good for game stop, but you know what, dave, people dont buy these games, they dont buy madden, battle front at game stop anymore. They buy a lot of the loot, the other stuff that goes with gamestop. People looking for minus 1 , came out minus 6 same store, very, very big misses, preliminary numbers. And there were a lot of people kept hoping this thing would be revised upward. Instead it went the other way. Theres a very big short position preventing the stock from going down. This is shocking because there is a continual belief this company will return. Why . If theres a thesis and proved correct the stock is down simply people are not going to these stores as much. I agree with you, but theres a narrative that continually tried to change whats in the stores that may be all the different characters that go with different games and hes trying to develop other kinds of stores. Its not working. Right. Jim,