Carl Quintanilla, Jim Cramer and David Faber led off the show by drilling down on the deal of the day: AMD agreeing to acquire rival chip maker Xilinx for $35-billion in stock.

They spoke exclusively with AMD CEO Lisa Su, who explained how the deal fits into the company's growth strategy and will help it generate scale versus its competitors.

A busy earnings calendar also in focus this morning, led by drug makers Merck and Eli Lilly as well as Dow components Caterpillar and 3M. This all coming after Monday's market sell-off, sparked by

a record surge in coronavirus cases and a standoff in stimulus talks.

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