like he's franchising come january 2021. lemonis: yeah. 'cause a lot of people are doing that right now. amber: [ laughs ] lemonis: like, i just -- i don't know that i see it thriving, but i'm glad that it's surviving, which is amazing. . good morning, everybody. welcome to "street signs." i'm julianna tatelbaum along with joumanna bercetche on this m & a monday dialogue rockets skyrocket after it has a takeover due to be completed in the second half a hostile reception for hostile takeover bid a french cord orders it against

making fresh appointments as they say the deal with only work on friendly terms. another hurdle for astrazeneca. south africa calls off vaccinations after a study shows the jab offers minimal protection against the fast-spreading local variant mario draghi with talks continuing this week as the former ecb works to form a government. a very warm welcome to what's turning into an m&a monday let's turn to the latest deal news m & a with two major deals kicking off a new week

dialogue semiconductser says it has agreed to a $5.9 billion takeover bid in a statement released this morning, the uk-based but frankfurt chipmaker said it considered the offer to be fair and reasonable that's not the only deal in focus. a french court has blocked any hostile takeover by a french water and waste firm suez. help us understand the strategic rationale behind this deal and why it makes sense for the japanese chipmaker and dialogue? >> it makes a lot of sense for

renesas to remake themselves as they are the largest chip to the automotive supplier industry so they are very much concentrated on automotive. with that move that would diversify themselves to consumer electronic and the health sector for them thrgs is the rationale to buy or offer that much cash for dialogue semiconductor because it's a premium of 20% on the last closing price on friday and the shares have already been up by 25% here today that's quite an offer. sd micro, the french competitor, they have been said to have been interested as well it was too pricey for them, according to people close to them

fi dialogue, the deal means they can be less dependent on apple because apple is one of their biggest clients for their semiconductor and that would make them less dependent the deal, as it is announced today, is set to be closed in the second half of this year, depending on approval by quite a lot of regularities. it's not only the uk regulators, it's the french, taiwanese and the u.s. regulator who has to agree to that do and needs to have shareholder approval from the side of dialog semiconductor. back to you. >> let's turn to france, another big story dominating the airwaves there the government has weighed in with bruno lemaire saying he wants veolia square out their

deal what can you tell us >> the french government's message for the past few months. we know they aren't looking for foreign takeovers but it seems to be tricky as well the whole thing has been going on for months now. it all started after veolia bought a 29.9% stake in suez where the french government has a stake and they said they would buy part of the company after suez agreed to all the terms there have been ongoing negotiations but they seem to have failed to get to an agreement. both have met with administration to try to come to a friendly agreement but they have failed to do so so far. veolia basically going hostile on suez. they put a poison piece on the french automotive business

stopping them from selling that business that's a problem for them. that is one of the businesses they identified to sell in a poshl tieup because that's where they have most of theover laps crucial to get regulatory approval further down the line there have been several legal challenges and suez brought white night intended to obstruc veolia's offer they have 18 per share offer we heard from suez this offer was unacceptable from a moral and ethical point of view. a lot of bad blood between the

two actors a key actor, one of the key actors will be the french government they do not have a stake in either company but they've been trying to bring them around the table. we heard from the french finance minister being very critical of suez >> translator: a merger of this magnitude can only succeed if it's a friendly one. a deal this important can't go against the workers, the board, clients or customers this bid is hostile and that raises questions about transparency why was this bid suddenly launched we'll take control of the financial markets as of this morning. it could pose problems over competition and it was also clearly rushed through i call on all parties involved to rejoin the part of reason and dialogue >> saying they will have a

market watch dog look into this and they have one month to look into this and the ceo of veolia said he was clear they would clear all the legal hurdles and all the conditions have been met. there will be many more chapters in this saga the market reacting negatively with both shares around 1.5% on the french market. >> at least we have another marker the next month will be crucial in terms of where this goes, but one key thing i would offer as well, is there have been no -- there hasn't been a lot of resistance on competition claims so far what the french government is saying, look, we don't have any major issues with this deal going ahead but we want it done on friendly terms i think that's a key distinction there. there isn't grounds for

noncompetitive behavior for the two companies to proceed with that merger. very interesting developments over the weekend in terms of potential m&a activity, but what is the read for the broader markets. >> we'll come to broader markets in a moment. on the dialog deal, this sector has seen heat m&a, dealing to $144 billion we have been following the nvidia arms deal, reaching regulatory scrutiny and regulatory hurdles will be a key focal point on whether this dialog deal will go through. it matches up with renesas and d dialog heavily dependent on apple. let's turn to markets and get a check on european equities

and how we're trading fairly mixed session but overall we are trading higher this morning. this adds to last week's gains the stoxx 600 gained about 3.5% alongside even more robust gains in the united states that optimism driven, in part, by positive vaccine news out of johnson & johnson and novavax. advanced economies may have more than enough vaccines than needed with increase on the south african variant, a little reason for investors to pause overall, they do seem to be looking through that news, which we'll discuss in more detail later in the show. pushing onto markets, let's look at the regional breakdown. green across the board we're seeing outperformance in italy, which was a theme last week as well the mario effect taking hold there with investors reacting positively to the prospect of mario draghi taking up the

government in italy. beyond that we're seeing gains fairly evenly distributed across the country. last week we did see technology outperform but there was renewed interest in the cyclical trade across the advanced world. this morning we are seeing similar trailed taking place where we have technology performing quite well right alongside those cyclicals. basic forces out in front. banks up 1.4 and travel and leisure round out performance. our first best, head of equity strategy at saxxo bank it's great to have you on the program. if i can get your view on the latest development, over the weekend on the vaccine front we have news the vaccines we have may be less effective at protecting against the south africa variant, so it feels as though investors are digesting what this means and increasingly

it looks leak we may enter a scenario where governments are more cautious about opening up to international travel and focusing on domestic real opening to try to stave off the threat from these vee russes do you think the market is position the for that kind of scenario or is there downside risk if we see governments opting for this strategy >> it's downside risk and not good news coming out of south africa increasing of this mutations obviously is key risk to economic outlook for this year interestingly enough, it feeds into the most important theme over the next 12, 18 months and that's the reflation coming back into the world we had saying over the weekend the $1.9 trillion stimulus plan in the u.s. has the potential to create the worst inflation in generations. the worst news we get on

vaccination and covid-19 it puts more pressure on politicians and they looking at lagging indicators like employment and vaccine rollout, and we have effective vaccines from moderna and pfizer for me the next two-year outlook is positive. we'll get through this i think the policy statement will be made across major economies and that is adding more stimulus on top of an economy that is running with buttons across crates, semiconductor, global manufacturing. we'll get the china ppi and that will move into positive territory for the first time in a year you see signs everywhere inflation is building. in the short term it's creating a demand for equities on a relative basis to bonds which are softening from these trends.

>> it is pretty extraordinary to see the rise in shipping costs and other inflationary pressures coming through from a market's perspective, how would you advise playing these replaceary pressures or inflationary pressures that are coming through >> yeah, so we maintain an overweight view on equities. there are so much stimulus coming and the tight coordination with fiscal and monetary authorities are definitely playing into the hands of equities at this point in time. until we get to a certain interest 4re68 when things will begin to change. within that overweight of equities and looking back at history, the places where you want to be persistent when you have a reflationary, you saw it from the beginning of 2016 to mid-2018, which is basically the last time in the last ten years when we really had inflation coming through, driven by china stimulus, that was positive for financials you had a steepening yield curve and positive for the

commodities. we are encouraging our clients to get exposed to equities, and commodities, which is a little more difficult, and financials we think the yield curve will continue to steepen. banks and security firms should do well. >> i want to pick up on something that you mentioned a little earlier you were talking about rising costs, particularly when it comes to shipping costs. we're seeing that in the uk, whether it's shipping that's sourced from china due to an increased demand coming from that point of the world or whether it's being sourced from the eu and there we're seeing higher costs because of brexit-related matters what do you think that does to company margins in europe? >> that's a very good question

i think in the short term the inflationary pressures we see are coming mainly from the supply side. i think a lot of companies will be able to raise prices against consumers and the best bargain power against consumers can do that it will increasingly get more difficult as we move forward because you'll have real demand driven inflationary pressures. if interest costs are rising more aggressively from the current levels we're seeing right now, it will get more difficult because you also have on the other hand competition so the companies that are able to not pass forward these prices will gain market share and others in the industry will then have to hold back and then suddenly you'll begin to see those impact costs in the market -- it is a worry there are so many signs of these inflationary pressures that if you're an investor, you're not focused on these, i think you're

making a very big mistake. also the semiconductors, i think it's a sign that, you know, we're moving away. you had the world car association industry saying over the weekend they're thinking about moving away from this just in time frame work from global supply chain management. if we move to that situation, then you see industries like the car industry building up inventories of the microprocessors and that will inflate the world. you had the u.s. and china tensions still reconfiguring the global supply chain. you see companies outproducing to china to those with more competitive infrastructure cost. i think all signs are pointing in this direction. it's really important. >> really important and really interesting going forward. i just also want to round out the conversation with another particular part of the market that you seem to like. that is e-commerce you have been recommending an e-commerce etf that saxo bank

has. so far the performance year-to-date is pretty impressive, up almost 15%. do you worry about the potential for higher taxes in that space going forward and over the weekend here in the uk there's been a lot of discussion about the potential to introduce a so-called amazon tax or an online sales tax for e-commerce retailers. >> yes i think the big established e-commerce companies, amazon and the likes, will increasingly get regulatory scrutiny, so to speak. i think we're moving into the next phase of e-commerce, which has basically gone through, you know, a 15, 20-year very successful period, which interestingly enough goes back to reflationary because i think the success of e-commerce and digitalization and underinvestment in the physical world. coming back to the e-commerce basket in which we have credit ourselves and the etf is a good

way to get exposure to this, we think there's plenty of growth in e-commerce over the next 15, 20 years in the developed world, we have reached pretty high penetration level in terms of small items, you know, books and the likes and also fashion clothing retailing has reached pretty significant reflation levels in other parts of the world, southeast asia, south america, these traditional categories with e-commerce will continue to grow fast because penetration levels are quite low. in a developed part of the world, with he see the big retail categories like groceries, health services and cars will begin to open up digital channels that will be the growth targets within the e-commerce space over the next 10, 15 years. we are still quite excited but you have to be -- you have to do your due diligence because in this part of the market, equity markets are quite rich so, you have to, i think, do

stock picking within this industry and really do your work because if you buy into some of these very rich valuations, you could have a very long period where you have subpar returns, despite the growth >> peter, thank you. thank you very much for sharing your thoughts with us, head of equity strategy, saxo banks. coming up, setback for astrazeneca oxford university vaccine in south africa. details next

welcome back to "street signs," everybody. the astrazeneca/oxford university vaccine is good against the covid-19 the vaccine had similar efficacy against the variant first found in september south africa has stopped the new rollout after a new study found it offers minimal protection

against the new strain of covid-19 variant there there's a look at european pharma more broadly. stocks are trading more in line with pharma. coming back to the data released over the weekend, in particular yesterday's preprint study from university of oxford, the key takeaway from this release is that the vaccine is proven to be just minimally effective in preventing mild to moderate covid-19 in the south african study, but the study was not able to determine whether the vaccine is effective against preventing severe covid. the study was based on 2,000 participants average age 31 years old. but for me, the key message here is the rhetoric within the release that scientists are optimistic the vaccine will provide protection against severe covid, given what we've seen from other vaccinemakers, in particular johnson & johnson, whose vaccine is quite similar to astrazeneca, and they had

positive results out last week when it comes to the south african variant. >> it seems to me that astrazeneca right now has two main issues going on number one has to do with the quality of the clinical trials i say that because in the case of south africa, the sample size was 2,000. the average age was 31 years old. it doesn't give you a complete picture as to whether or not it reduces the severity of the disease in the he would early or higher risk parts of the population that's also one of the reasons why we saw some of the european countries take a very conservative line with the astrazeneca vaccine, saying they would prefer not to have over 65s be inoculated with the jab that raises a lot of questions as to the type of clinical trials and the data that's accompanied those trials coming out from astrazeneca the second, of course, and this is the thing we've been talking about a lot is that of their manufacturing capacity this escalated in the big row we

saw versus the europeans they seem to have come to some resolution astrazeneca was dubbed as the vaccine of the world there are over 3 billion orders worldwide for this vaccine two questions hold -- one, can they manufacturing that amount of vaccinations. number two, what if the vaccine proved to be ineffective with some of the variants like we're seeing in south africa. >> i think when it comes to the efficacy, it's important to distinguish between efficacy with regards to preventing mild cases of covid and efficacy when it comes to protecting against severe covid ultimately the goal of these vaccines is to prevent hospitalizations, alleviate pressure on health care systems and prevent death. the earlier indications from a range of data is that the vaccines we have are going to be effective to a substantial degree at preventing severe covid, even when we look at the

south africa variant, which is the most concerning. i think the question when we try to link this vaccine news to markets is whether governments will have appetite or tolerance to fully reopen economies when we still have the risk of this new variant, the south africa variant, spreading and the vaccines not being able to prevent mild cases even if they prevent hospitalization and death, that is still concerning. i think markets now will grapple with the question of what to do if we enter a scenario where countries reopen domestically but opt to keep borders fairly tightly closed that seems to be the scenario that is becoming more and more probable as we get more data coming through. >> there is cause for optimism there as well. it's worth mentioning novavax

and johnson & johnson had more testing on the variants. it's not that every vaccine has more variants or lower efficacy. astrazeneca have committed to creating, perhaps, a booster jab or modifying existing vaccinations so it becomes more effective against these new variants it will be a work in progress for sure and something we'll definitely keep covering over the next couple of months. could have big implications for markets as well. >> one point on the different vaccines and the efficacy we've seen with regards to south africa, it's really difficult to compare the johnson & johnson, novavax and astrazeneca can efficacy numbers johnson & johnson hasn't been transparent. and the efficacy they showed with regards to the south africa variant, that was just with respect to preventing moderate to severe covid. we don't actually know how well that vaccine protects against mild covid we also don't know specifically how well novavax prevents mild

covid. once that data comes through, we may end up in a scenario where all vaccines show similar efficacy against mild covid and similar efficacy against severe covid. >> something we'll be watching out for very closely we'll push on and head to break. when we come back, mario draghi's bid to lead the new italian government as he looks to find majority in the new splintered parliament.

welcome back to "street signs,". joumanna bercetche along with julianna tatelbaum dialog shares rocket the top of the stoxx 600 as it agrees to a 5.9 billion euro bid from takeover renesas. hostile takeover bid from v

veolia for suez. south africa calls off vaccinations after studies show the astrazeneca vaccine as a new study shows it offers little protection. a disappointing jobs report triggers hopes of a stimulus deal white president biden tells cbs he'll take on china. >> i'm not going to do it the way trump did. we're going to focus on international rules of the road. soft bank is in focus posting profit of $11.9 billion boosting recovery by the vision fund unit. that's 29% more than expected by analysts after they suffered their biggest loss in history last week. they credit rising valuation to

some of its investments. softbank trading 6% higher in frankfurt. let's take a look at the market action. we're seeing green across the board here fairly evenly split, though we do have some outperformance in italy. the foot si mib up nearly 1% as investors continue to price in what a mario draghi led government the french government up 0.5%. here in the uk, the ftse 100 trade thering 0.50% higher we have the euro and the pound trading on the back foot versus the dollar a broad story of dollar strength this morning the euro trading 10 basis points down to 1.2025 the pound trading lower. last week sterling bouncing quite strongly after the bank of he can land meeting and the bank of england downplaying the chances of negative rates near

term let's turn more to italy and take a look at what's been going on over there. mario draghi took key steps on the path to becoming italy's new prime minister, gaining conditional support from the right-week liga. the ex-prime minister sylvia bulusconi giving backing. >> let's take a look at the stocks investors broadly taking the view that draghi is the best man for the job. this morning we are seeing continued outperformance in the italian banks. unicredit up nearly 4% intes and mediobanca turning up.

bond markets are faring this morning. we have the ten-year italian yield also moving lower once again, down around 54 basis points at the moment otherwise we're seeing a slight uptick in yields across europe let's bring in our next guest, co-star from uni credit it's great to have you on the show i want to turn to the developments in italy. last week we saw a major boost on italian assets on news mario draghi would come in to lead a new unity government my question, does it matter he may not have a thumping parliament majority? are people concerned about the longevity of this potential draghi government? >> these are important topics for the long-term performance of italian assets as of now, however, it looks like the new government will

enjoy very broad support in terms of starting and being available short term to implement action, that should be reassuring for markets and the issue of how long this will remain in place. as of now, the premises look good >> if you look at the performance of italian bond yields versus german bunds, they have narrowed the last couple of weeks and accelerated last week on the draghi announcement, do you think all the good news is priced in or does the trade have further lags >> i think there's much further room to grow the reason i say so is last week the price action was looking mostly driven by futures

fast money coming in the market and exploiting good news and then more long-term investors joining the flows in the market. particularly one interesting thing is foreign investors are still relatively light position in the market. if the conditions and the outlook in terms of domestic politics becomes more encouraging as last week, there is room for flows to materialize. as far as foreign investors joining the market, this will provide further window >> the markets cheering mario draghi taking the helm and political elements weighing in saying he's the best man for the job, but we haven't heard a great deal around his policy agenda or what type ofitaly he

sees moving forward. what are you looking forward to? >> one of the most important issues right now is how to use and deploy the resources coming from the next generation it's going to be one of the top priorities, especially for investors. and aside for this, i mean, he comes from a role where he's been managing monetary policy and at the same time pointing out fiscal policy becoming of support. as long as he continues along this line, which is what he's been saying during his last job with ecb, it should be enough to address one of the most important priorities which is keeping fiscal policy going as long as the pandemic is still out there in such a way that thedemand is supported well enough. >> bringing it back to bond

markets you noted in your latest research that euro bonds -- or ue bonds will be a new component of the sovereign market. how are you thinking about the risk/reward in those versus the medium sovereign bonds >> the new issue has become very important. i think they would provide the possibility of having big liquidity and they would look comparably favorable relative to small and midsize sovereigns the focus for many types of investors. >> many people have been pointing on you the that eurozone inflation has jumped a lot in just the space of a month we've gone from minus 0.3% in december to plus 0.9% in

january. i do understand some of it is due to technical factors how much of that do you think is being factored into the direction of bond yields from here is that one of the reasons why we're beginning to see yields particularly in germany actually start moving higher for a change >> the reason yields are moving up, in the u.s. and in the eurozone, has been the repricing and inflationing expectations. that's been by far the most important drivers in the upward movement going forward, it's difficult to say that inflation will further pick up from here. we're actually quite cautious about the further developments in inflation dynamics. but there is some room for real yields moving up and the combination of real yields moving up and at current levels it would push up nominal yields.

>> we'll leave it there. thank you for joining us co-head of strategy reseven at unicredit. still ahead, president biden urges law makers to back his massive stimulus plan as the labor market continues to struggle dealdash.com, the fair and honest bidding site. an ipad was sold for less than $24; a playstation for less than $16; and a 4k television for less than $2. go to dealdash.com right now and see how much you can save. remember, shipping is always free.

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welcome back to the show it is m&a monday here in europe. i want to bring you a marm story we're following. dialog agreed to a takeover from japanese rival renesas earlier on the show we said 5.9 billion euro it is, in fact, $5.9 billion dollars. in a statement released this earning month the uk based but frankfurt listed chipmaker said they consider the offer to be, quote, fair and reasonable. i want to take you to a picture of how some of those single stocks that were targeted by the reddit community are trading this morning we have many stocks up in

premarket u.s. trading also when it comes to the frankfurt listings we have them trading higher. gamestop up just over 16%, but still trading around 58 euros a share. significantly lower than the highs seen over the last week and a half or so at one point hitting over $500 per share. we also have a little uptick in amc and blackberry shares in frankfurt listed trading the u.s. market trade also suggest those stocks are going to open higher. moving on, let's talk about the u.s. jobs report we got on friday the united states added 49,000 jobs in january, rebounding from a sharp decline in december. the unemployment rate fell to 6.3% the labor market's recovery from massive job losses at the outset of the pandemic slowed with almost 10 million americans still out of work. president biden spoke exclusively to cbs's norah o'donnell this weekend and called on lawmakers to back his proposed $1.9 trillion stimulus

saying nonfarm payrolls show the economy remains in trouble. >> we don't have to wait until 2025 to get back to full employment, which would be the case if we don't do this again, independent analysis from places like moody's on wall street, brookings institution, the american rescue plan could achieve that by the beginning -- full employment by the beginning of next year telling them we don't have the money to aleve aid their suffering to get to full employment sooner, to vaccinate america after $8 trillion in deficit spending over the past four years, much of it having gone to the wealthiest people in the ountry, neither true nor necessary. >> and barack obama's former economic council director larry summers has criticized the size of president biden plan. he said the package carries the

risk of high inflationary pressure while possibly impeding the new administration's ability to make other public investments. le one-time treasury secretary agreed with the current administration that the risk of insufficient stimulus is greater than those of excessive measures i want to take a moment to talk about this hot debate that evolved over the weekend very interesting to see larry summers weigh in this is a man who's been talking about the fact there's secular stagnation in many of these advanced economies and the need for a fiscal solution to that. it's very interesting for him to come in and say, well, this $1.9 trillion stimulus proposal out of biden could end up backfiring and overheating the economy. many people were quick to point out, look, it's much easier for the fed to deal with higher inflation than lower inflation, especially when your rates are essentially very close to the floor. that's one point

the second point is, and this was a very interesting retort i read to that by paul krugman in "the new york times" and he was saying, at this point it's very difficult to estimate the multiplier effect of this fiscal stimulus a lot of the stimulus could be considered emergency spending. your spending on vaccinations, on infrastructure, on helping kids be educated because they've been out of school for a couple of months or home schooled and haven't had access to the right equipment to stay up to speed on some of their studies. this could be deemed an emergency type of stimulus, not the typical type of stimulus that would be very inflationary in the long run. you can't really start counting the coins when it comes to an emergency expenditure because this is a situation that nobody could have foreseen coming. >> i think you've hit the nail on the head there, talking about the difficulty in figuring on you the what the multiplier effect is of this government spending on output

it's very hard to estimate how household are saving their stimulus money for the most part yet we may end up in a scenario in the second half of the year where the u.s. has more than enough vaccine doses than it needs and all that pent-up demand could lead to an overheating of the economy leading to a burst of inflation. a very tricky situation over in the u.s. speaking of the vaccines, though, u.s. president joe biden says reaching herd immunity by the summer may prove difficult in his first tv interview, the president also weighed in on donald trump's second impeach imtrial. nbc's kelly o'donnell filed this report >> reporter: tonight president biden ran with a super bowl sunday tradition, going back almost two decades the big interview. the covid crisis top it of mind. >> i think it's time for schools to reopen safely safely have you to have fewer people in the classroom. >> reporter: on foreign policy it, a message to u.s. adversaries, including china's long-time president xi.

>> i'm not going to do it the way trump did. we're going to focus on international rules of the road. >> reporter: on confronting iran's nuclear ambitions will the u.s. lift sanctions first in order to get iran back to the negotiating table >> no. >> they have to stop enriching uranium first. >> reporter: from the global stage to the home front, the president reflected on son hunter's battle with addiction, that the younger biden describes in a new memoir. >> but the honesty with which he stepped forward and talked about the problem and the hope that it gave me hope reading it. i mean, it was like, my boy's back, you know what i mean anyway, i'm sorry to get so personal. >> reporter: this week the president's first 100 days' agenda must compete with a second trump impeachment trial mr. biden unwilling to render his own verdict. >> i've watched what everybody else watched, what happened when

that crew invaded the united states congress, but i'm not in the senate now i'll let the senate make that decision. >> reporter: house republican conference chair liz cheney defended herself after wyoming's state party censured her for backing impeachment. >> the oath i too, to the constitution compelled me to vote for impeachment and it doesn't pend to partisanship >> let's get out to tracie potts, our nbc washington correspondent. i want to turn the conversation back to the on covid relief bill how likely is it this $1.9 trillion proposed bill actually does get passed in a couple weeks' time? >> reporter: well, democrats are moving full speed ahead on it now, trying to spend the next two weeks honing in on the details, actually writing the bill, determining what they can put in, like the stimulus checks

that will need to be targeted toward lower income americans or the minimum wage, which the president now admits is out of the bill so, that's the work that will happen over the next two weeks democrats have paved the way to push this through even without republican support, even though president biden has said that is not his preference now on top of that, today they plan to introduce another large payment of up to $3,600 a year to parents, to people who have sort of a child credit, to people who have children under the age of 18. the thinking of the biden administration has been that people, especially people of low and moderate incomes, need cash. they are cash-strapped, particularly families with children the prevailing thought of republicans has been right, but where do you get that money from without borrowing it let's let what's already out there start to work its way through the system that's the essence of the

disagreement, but to answer your question, it looks like democrats are full speed ahead in trying to push this through planning on a vote, an initial vote as early as the week of february 22nd. >> something we definitely need to be watching closely thank you for breaking it down for us tracie potts live from washington before we go, we have to get you your super bowl update the tampa bay buccaneers have won their first nfl super bowl since 2003, beating the kansas city chiefs 31-9 tom brady was the game's most valuable player at 43 years old. the veteran quarterback won his seventh title, breaking a league record america's biggest sporting event was played in front of a reduced crowdy of 25,000 people and 30,000 cardboard cutouts due to

pandemic restrictions. a hard game to watch for many of my new england hopefuls who had to let tom brady go. let's take a look at u.s. futures and how wall street is shaping up we have green on the board it looks as though u.s. markets will extend the gains seen last week it was a bumper week for u.s. equities the dow ended nearly 4% higher the s&p 500, 4.6% higher the nasdaq, 6% higher, outperforming the broader market technology outperforming yet again last week but there was renewed interest in the cyclical trade as rates rose and yield curves steepened as investors priced in the potential for even more vaccine doses and the potential for a scenario later in the year where advanced economies end up with a supply glut a lot of optimism last week and this week it looks like we're in for a positive week as well. >> as you and i were just talking about alongside tracie,

i think the big question is how big the fiscal stimulus will be. it remains to be seen whether or not that can be passed if it does, people are still going to be jumping onto this reflationary band wagon. doesn't help some notable people in the space, economists like larry summers, like oliver blanchard over the weekend, a warning that this type of package could lead to the u.s. economy overheating. definitely a topic we'll be discussing a lot more in coming months we're seeing that be reflected in interest rate yields. >> that multiply effect hard to determine in this unique situation. that's it for today's show i'm joumanna bercetche along with julianna tatelbaum. "worldwide exchange" icong nt.s mi

it is 5:00 a.m. at cnbc global headquarters. futures right now pointing towards a higher open following wall street's best week since november red light. shares of hyundai and kia dropping in asia after the automakers say they are not in talks with apple to develop a car. south africa will stop using the astrazeneca covid vaccine after they show it was not effective in preventing a variant of the