Squawk Pod: 5 Things to Know Before the Opening Bell - October 20, 2025

Episode Overview

In this fast-paced episode, the Squawk Box team—Joe Kernen, Becky Quick, and Andrew Ross Sorkin—breaks down the top business stories and market-moving events to know before the stock market opens. The hosts cover a major Amazon Web Services outage, hot-selling iPhones, tensions between the U.S. and China, a possible mega-acquisition in the medical device sector, and the latest drama over Tesla CEO Elon Musk's pay plan. Delivered with the trademark blend of information and banter, this episode preps listeners for the day’s most important headlines.

Key Discussion Points and Insights

1. Amazon Web Services Outage

• [01:03] Joe Kernen reports that several major websites have finally come back online after an overnight outage caused by Amazon Web Services (AWS).
  • Affected sites included: Perplexity, Snapchat, Disney+, Coinbase, Robinhood, and even Apple.
  • Demonstrates the ripple effect a single cloud provider can have across industries.

2. Apple's iPhone Sales Surge

• [01:22] New Apple iPhones outsold the previous model by 14% in their first ten days on sale in the US and China.
  • Report sourced from Bloomberg, citing Counterpoint Point Research data.
  • Highlights continued consumer demand and Apple's prowess in major markets.

3. US-China Cybersecurity Tensions

• [01:36] China accuses the U.S. of hacking its National Time Center.
  • China’s State Security Ministry claims evidence of infiltration dating back to 2022.
  • Points to escalating cyber and geopolitical tensions between the world’s two largest economies.

4. Hologic Acquisition Rumors

• [01:43] Shares of medical device maker Hologic rise on rumors that Blackstone and TPG are in advanced talks to acquire the company.
  • Reflects ongoing consolidation and private equity interest in the healthcare sector.

5. Elon Musk’s Controversial Pay Package

• [01:58] Proxy adviser ISS recommends Tesla investors vote against Elon Musk’s proposed pay plan, which could grant him nearly $1 trillion in stock if aggressive targets are met.
  • Tesla (via X, formerly Twitter) criticizes ISS, arguing they “missed fundamental points of investing in governance.”
  • Joe Kernen mentions Musk’s tongue-in-cheek post: “I really don’t like this. Isis is sort of stuck in a next iss. Yeah, instead of iss.”

Notable Quotes and Memorable Moments

• Joe Kernen on the morning ritual:
  "Andrew, you had. Remember the pen you had? I hope you still had it because I’ve given you SWOC Planner. Now I’m giving you five things to… I saw you."
  [02:47]

• Andrew Ross Sorkin, playing along:
  "I’m taking notes, I’m taking notes. It’s feverish. Anything you say, Joe. As you know, I just sit with my pen and I take the notes. Right, as most viewers should. As most viewers every morning should be sitting, waking up in the morning, getting their pen and paper out and taking the notes."
  [02:56]

• Joe Kernen, with classic sarcasm:
  "Literally tens of dozens of people out there are probably doing that."
  [03:12]

• Andrew Ross Sorkin, undercutting the joke:
  "Maybe less."
  [03:18]

Timestamps for Important Segments

• [01:03] AWS outage impacts major sites
• [01:22] Apple iPhones outsell previous model
• [01:36] China accuses US of hacking campaign
• [01:43] Hologic acquisition rumors
• [01:58] ISS recommends against Elon Musk’s pay package
• [02:47-03:19] Joe and Andrew’s exchange on taking notes and the listener ritual

Tone, Color, and Final Thoughts

The episode features the Squawk Box team’s signature mix of brisk reporting and tongue-in-cheek interplay. While Joe Kernen and Andrew Ross Sorkin recap five essential pre-market developments, their banter about “tens of dozens” of diligent note-takers injects levity amidst the business talk. This episode gives listeners a rapid-fire, context-rich overview of the must-know headlines to start the trading day right.