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 virus.

the dogecoin is soaring after an elon musk tweet about the currency. and congratulations to the super bowl champions, tom brady and the bucs tweeting the kansas city chiefs. it's monday, february 8, 2021. you are watching wou "worldwide exchange" right here on cnbc good morning welcome to the show. i am dominic chu in for brian sullivan history in tampa bay playing out last night tom brady leading the bucs to the super bowl at age 43, breaking his own record to win his seventh super bowl ring. its his tenth super bowl appearance this was tampa bay's first championship since back in 2003. brady was named the game's mvp for the fifth time in his career that's also, yes, another record he is the greatest of all time

we'll have more on the big game later on this hour and talk about some of the big issues some sports betting sites had during the game and just ahead of it. to the markets where futures are pointing towards a higher open the dow implied higher by roughly 112 points the s&p 500 implied here by roughly 12 points. this is the middle of the range overnight for these futures' markets. the s&p, the nasdaq and russell 2000 small cap index posted record highs on friday the dow and the s&p are now on their longest winning streaks since all the way back in august you can see there are big move higher over the last year for the major indices. on the treasury yield side, we're seeing a slight move in yields you can see with the ten-year government yield and we ticked a hair above 2% in the session for the 30-year treasury long bond the two-year note dropping 10.5

basis points to the overseas trade where we're seeing quite a bit of green. the nikkei closing by 2% hang seng, 0.1%. shanghai, 1% gain and the south korean kospi, down 0.8%. take a look at what's happening in europe. that trading is happening right now and julianna tatelbaum in the london newsroom. i can sense it's very green there as well. >> that's right. here in europe we are following asia and trading higher, extending last week's gains. the main benchmark, stoxx 600 up 0.4%, adding to last week's gains when the stoxx 600 rose 3.5% alongside that bumper week you saw on wall street, we also saw investors put more money to work in europe. this morning we're seeing outperformance of italian assets, the italian banks in

particular on hopes that a mario draghi-led government will potentially spur economic growth and provide a more supportive environment for m&a, especially in the banking sector. they seem to be looking at the data over the weekend causing some concerns around astrazeneca and the south african variant. i want to give you a look at the sectors. we are seeing a strong bid in cyclical stocks as well as tech technology the tech sector up 0.8%, being lifted in particular by dialog shares, the semiconductor company has risen substantially, about 17% at the open after the board agreed to a 6 billion euro takeover from japanese rival renesas. a lot of action in the chip space. overall green for european equities this morning. >> julianna tatelbaum live in

london with the latest, thank you. in corporate news, hyundai and kia say they are not in talks with apple to develop a car. makingle comments in regulatory filings today following media reports that the u.s. tech giant was looking to the south korean automakers to develop a self-driving car hyundai and kia say they're getting requests from multiple companies to work on autonomous electric vehicles but nothing has yet been decided both stocks down sharply in the korean trade hyundai and kia, who are, by the way, affiliated companies. hyundai down 6% in the korean trade, kia down about 15%. renesas is buying dialog in a 20% premium to friday's price. dialog semi, in german trading, up about 16.5% hedge fund elliott

management is looking to raise more than $1 billion for a spac. "the wall street journal" says the process is in the early stage but the firm has been meeting with bankers about the develop of a special purpose acquisition company or blank check acquisition company. back to the markets. after last week's bounce, the s&p 500, nasdaq and russell 2000 small cap index are at record highs and the dow is less than 0.50% away from its own all-time high your next guest says there are still some warning flags underneath all of the positive sentiment out there. gina sanchez is the ceo of chantiqa global and cnbc contributor. markets keep going higher and higher and higher over the course of the last almost year now. >> thanks for having me, dom i agree. we have seen tremendous performance out of the markets when you think about sort of what is the psychology that's

pushing this generally it's the idea that this was never going to be a permanent situation. the pandemic would be a short-term or possibly medium-term event and you would eventually get to the other side and have a recovery. that recovery is not only priced in, but we've seen continued margin we've seen continued multiple expansion, even considering where we were in earnings at the beginning of the year. even though we have spectacular earnings, we still haven't caught up and the economic recovery doesn't quite catch us up either. and i think the markets are well beyond their skis, priced into protection so far the vaccine recovery hasn't gone -- the vaccine rollout hasn't gone well and there are still a lot of questions left hanging over the market but the market doesn't seem to want to budge.

it wants to continue to price in positive outcomes. >> the positive outcomes have been coming for the stock market for a while. what's got me interested more today is the bond market we show the 30-year long treasury bond is right at 2% yields right now for context, that's kind of what it was prepandemic, which means that that whole idea of asset reflation and reflation is coming back is now pricing into the bond market as well. doesn't that suggest there's nor runway if the bond market is just now catching up to the reflation that stocks have had >> yes, but it could also be the bond market is pricing in some inflation. we've seen tremendous stimulus and we're expecting even more stimulus that continued surge in debt will have -- could come with inflation. if you look, for example, at tips, tips have been a spectacular performer over the last year. they got incredibly cheap during

the march lows of the pandemic, and now i would argue they're quite expensive. you have to ask the question, are we really going to see inflation trending above 2%? that's where break-even yields are. if that were the case, we would see the fed backing off sooner rather than later. >> should we fear 2% inflation it seems 2% should be normal, right? it's not like it's hyperinflationary at all right now. there are no signs it's going to get that way what about the case being made by some investors that 2% inflation is where we should be, not even pricing in hypergrowth? >> that's the problem. 2% i inflation is where we should be but we haven't been there in a very long time. we've seen a tremendous amount of debt growth but that excess money, that money supply we've been printing hasn't actually gone into wages and goods and services pricing it's been going into the asset markets. in fact, asset prices are tremendously inflated from a

decade of continued stimulus not just this latest stimulus. and that's really kind of the thing that kind of, i think, in the longer term has me questioning whether or not we see value here dom, there is so much evidence in terms of excess exuberance and excess money that money is going into things like blank check companies you mentioned spacs and cryptocurrencies these are literally instruments worth whatever someone is willing to pay you there's no intrinsic value ipos are through the roof. there is so much demand because there's so much excess money and so little value. >> gina sanchez spinning a cautionary tale for investors. we appreciate it very much thank you. >> thank you. now to washington, d.c congress has a very busy week ahead. today democrats begin work on the specifics of a new covid relief bill they hope to vote on in a couple of weeks

tomorrow the second impeachment trial for former president donald trump begins. senators will hear opening statements from house impeachment managers and the trump defense team as well nbc's tracie potts joins us with a complete roundup of what we need to be watching. good morning >> reporter: good morning. the senate will stay in town for this impeachment trial starting tomorrow, but interestingly, some house members are already leaving, leaving the details of this covid relief bill to their leadership to hammer out between now and the week of february 22nd democrats are preparing to vote on covid relief in two weeks, including stimulus payments. in an interview with "cbs evening news," president biden says the payments will phase out depending on income. >> somewhere with an individual making up to 75,000 and phasing out and a couple making up to $150,000 and phasing out again, i'm wide open on what

that is. >> reporter: the president admits this bill will not raise the minimum wage, but democrats are planning to add new child payments, up to $3,600 paid monthly starting in july republicans argue the $1.9 trillion plan costs too much. >> sometimes a cure is worse than a disease. >> reporter: stimulus talks continue as the senate prepares for the trump impeachment trial to begin tomorrow. >> i think this is a very bad idea 45 plus republicans are going to vote early on that it's unconstitutional. >> reporter: a handful of republicans say they'll be impartial jurors. >> i'm going to listen to the arguments on both side and make the decision i think are right. >> reporter: they may or may not include witnesses. >> there will already be over 100 witnesses present and those will be the house and senate members. >> reporter: getting 17 republicans to convict still seems unlikely senate democrats say they're going to leave the decision of

witnesses up to the house managers, the prosecutors in this case, but the managers have not yet said whether they would call witnesses. >> a ul full slate for congress coming up this week. thank you very much. when we come back, china formalizing some anti-monopoly rules targeting the internet economy and this could have big implications for alibaba as we head out to break, check out some of this morning's biggest movers in the s&p 500. general motors, cummins up 2% to 3% on the losing side you have technic, domino's, air products and chemicals. stay tuned, you are watching "worldwide exchange" right here on cnbc.

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welcome back to "worldwide exchange." check out what's happening with dogecoin, up 150%. the cryptocurrency that started out as a joke soaring to another record high after elon musk, snoop dogg and kiss's gene simmons all tweeted about it you can see elon musk saying, it's finally come true and he's put up a meme with regard to the lion king elevating dogecoin and snoop doge with the dogecoin

there. a far cry from what it used to be we used to talk about bitcoin quite a bit. bitcoin pushing up against the 40,000 mark. to overseas news, china is formalizing anti-monopoly news and investors are trying to figure out what this might mean for one of its most high-profile internet companies, alibaba. eunice yoon joining us from there. good morning. >> reporter: good morning. the market regulator unveiled these new guidelines over the weekend and they're aimed at big tech these new rules are based off a draft that was unveiled in november and they're meant to stop online giants engaging in what authorities are calling anti-competitive behavior. those would include some practices that have become quite common place within the industry forced exclusivity, for example, that is forcing a vendor to choose one -- only one player where they could sell all of their goods online versus the

other. subsidies for below cost services, and also price manipulation so, based on what you see with the customer, who your customers are, you offer them a different price. that now is no longer allowed. obviously this had an impact in terms of how investors are looking now at alibaba, tencent, j.d., even food delivery app as well, a lot of online giants these stock prices didn't move so much for some of these companies because, one, the bulk of the rules were unveiled in november, but also it's still unclear exactly what the impact would be there are still a lot of things that need to be defined within these regulations. but i think one thing, dom, that is really interesting is these new guidelines were rushed out in three months. formalized in three months that is in china considered lightning speed when it comes to

these anti-monopoly regulations. the last time wesaw something kind of akin to this is with the car industry that was several years ago and it took them a very long time to be able to formalize anything. >> eunice, there's, perhaps, an argument there we're noting the stock prices right now over the medium to longer term here is perhaps the reason here because it actually shows that china is doing so that is trying to solidify a freer market there? i mean, big technology is under a lot of scrutiny, antitrustwise in the 80s as well and those stocks keep going higher maybe this is just the next evolution of big internet business in china. >> reporter: less the argument from people who say this is going to be a good thing from the ant ipo. the ipo should be able to go ahead. we will see the regulations kind of all sort them out this is a very new industry. the market regulator said that

themselves, saying this is a relatively new entry because of that it needs to figure out all of these regulations to root out all of the risks. those who still think ant is on the table for an ip on often see this as a positive news, at least longer term to get the industry in shape. >> eunice yoon live in beijing thank you very much. still on deck for the show, amazon facing a big union vote starting today those details coming up. today's big number -- 7.95 billion. that's how many times snapchat's users open the app each day during the fourth quarter. the company's daily active use mp 2 or the prior year

welcome back to "worldwide exchange." let's get a check of cnbc's other top headlines. franci francis, good morning. >> super bowl sunday was more like super bowl. the folks trying to dig out from last week's massive snowstorm. d.c. saw wintry mix of slushy snow and rain while buffalo, new york got a couple inches former secretary of state george schultz has died. best known as secretary of state

under ronald reagan. he is credited with helping end the cold war he was one of the most consequential policymakers of our time, holding four different cabinet level positions throughout his long career george schultz was 100 years old. students in san francisco and chicago may soon be headed back to the classroom. both school districts have reportedly struck tentative deals with the teachers unions in chicago, pre-k and special education programs would return thursday other groups would be staggered. no return date has been set for high schoolers meanwhile, "the san francisco chronicle" is reporting a tentative agreement would allow reopening depending on the city's tier system and if covid-19 vaccines are available. a lot of debate in those districts to get kids back to school those are your headlines for this monday morning. >> a critical part about opening up the economy thank you very much for that. coming up on the show, futures pointing towards a higher open at the opening bell. we'll talk about this week's big earnings and events to watch, including stimulus negotiations.

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the bulls looking to build on the best week since november. hyundai and kia say they are not in talks with apple to develop a car. and tom brady and the tampa bay buccaneers win the super bowl it's not just the kansas city chiefs feeling the pain. why some major sports betting sites could also turn out to be the losers in the big game last night. it's monday, february 8, 2021. you are watching "worldwide exchange" right here on cnbc

welcome back i am dominic chu in for brian sullivan let's get to the markets futures pointing towards higher opening bell the s&p by 11 points and the nasdaq up by 53. on the treasury yield side of things we're seeing a slight uptick in benchmark yield. more notable, perhaps, is the 0-year long treasury bond. you can see 1.99%. it did briefly tick above 2% it would be the first time since february of last year pre-covid pandemic lockdowns oil prices in focus as well, part of the reflation trade. oil and gasoline heading higher over the last couple of months wti crude up over 1%, $57.48 the last trade there world benchmark brent crude, 1.15 making headlines this

morning, hyundai and kia say they are not in talks with apple to develop a car the company making a comment in the regulatory filing today following media reports that the u.s. tech giant was looking to the south korean automakers to develop a self-driving car hyundai and kia say they are getting requests from multiple companies to work on autonomous electric vehicles but nothing has been decided both stocks in korean trading sharply down south africa will stop the use of the astrazeneca/oxford covid vaccine after it shows it wasn't effective in a new variant of the coronavirus. the nlrb rejected amazon's attempt and demand votes take

place in person. mail-in voting will continue as planned and decide whether the alabama warehouse, which has around 6,000 workers, will join a unit of the afl-cio and could spur elements at the more than 1,000 amazon fulfillment centers around this country. back to the markets. let's check out some so-called reddit short squeeze gamestop up 10%. amc, koss and blackberry joined in the mix. joining me is jeff alexander to talk a little more about this jeff, i'm curious about this because the reddit revolution, wall street bets, what's happened with gamestop, amc, koss, all these other stocks was billed as a win, a huge one for the retail investor out there. is it, in fact, a win for the retail investors out there >> thanks for having me on

first thing is the definition of retail is -- we use the wrong definition my clients are hedge funds, mutual funds, some of the largest in the world they represent people who have pensions, for example. policemen, firemen, pipefitters. and that's retail. it's retail and packaged up. what happened here was when all this new flow came into the market, what's really interesting when you look at the numbers, i don't think anyone is talking about this is the reddit revolution, the robinhood, the schwab, last year at this time was 20% under market volume. now it's one-third of all market volume what happens here, there's something called payment for order flow when someone executes a trade through a robinhood or through a schwab, it doesn't go to the new york stock exchange, it doesn't go to nasdaq it goes to a citadel, it goes to a vertu. they're known as wholesalers

they execute it. that never reaches the marketplace. it never hits an exchange. think about this one-third of all the trading volume never gets to an exchange that means my clients, the hedge funds, the mutual funds that represent pensions never have the opportunity to trade with that flow. what we've seen is increase in cost unlike anything you've ever seen in the 25 years we've been doing transaction cost analysis. costs in high retail names have tripled. >> jeff, jeff, jeff, so let's boil this down you're saying that what's been happening with the surge in retail trading volumes at places like robinhood, at places like weeble, places like even schwab, e-trade or anywhere else have now increased costs for investors who invest in mutual funds and other instruments like

that >> absolutely. in high retail names the costs have increased and the deviation of costs, how much those vary by a factor of three. that's a significant cost. when we say high retail names, people think, he means gamestop, he means amc no, i mean gamestop and amc but i mean apple, boeing, american airlines, tesla, royal caribbean. overall it's one-third of all volume and why is that a problem? let me tell you why that's a problem. when a mutual fund decides to buy a stock, a lot of times the direction will come down and they'll say, be 20% of the volume so a trader will go and try to beat 20% of the volume what if you own access to 40% of that volume because it's being executed by citadel and vertu? then the trader has to be 33% of the remaining volume

if you go back and you remember when you were an econ stubt in college, less supply, same demand, higher prices. that's why we found the cost increased by a factor of three in those names >> with that in mind, in your data is coming through the way it is and you're saying costs for transacting things for mutual fund managers who are investing money on behalf of retail investors, hedge funds doing work for pension funds and that sort of thing, what exactly does that mean for the future of the business should we just accept that trading costs will be higher down the line? should something happen from the regulatory standpoint to kind of improve that trading execution for those people who are invested, not in day trading but this things like mutual funds, index funds and that sort of thing? >> i'm not a fan of regulatory solutions. they take a long too imto implement and they usually have horrific side effects. i'm a fan of doing private solutions. right now portfolio managers and

traders have to be aware of the situation. they have to track high retail names. the way the market works, it's really hard to cal late this we've spent over the past year coming up with accurate numbers, retail in each name, so you have to know these names are high retail names you have to plan accordingly have you to assess the risk in your portfolio and say i can't have all high-risk names longer term there has to be a commercial solution that comes along. perhaps something that fits between the schwabs and the wholesalers that allows institutions to have their access >> jeff alexander with the latest on how transaction costs are rising for institutional clients because of the surge in retail trading thank you very much. we appreciate it. coming up on the show, highlights from last night's super bowl, plus some big problems for sports betting sites. we'll bring you the details of what happened there. first, as we head out to break, some of your other top headlines this morning

alphabet-backed health insurance startup is filing for an ipo they help with everything from scheduling doctor's visits to checking lab results. the financial times is reporting tiktok is planning an aggressive expansion into e-commerce in the u.s., stepping up competition with facebook the chinese-owned apps have briefed advertisers on new features, including a tool that allows users to link products and earns a commission on any sales made through those channels gas prices jumping 5 cents a gallon to an average of $2.50 a gallon for regular unleaded. i know, i pay those prices as well stay tuned, you're watching "worldwide exchange" right here on cnbc.

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last night's super bowl was expected to be a record-breaking year for online sports betting in the u.s. but something broke. multiple gaming platforms had multiple crashes contessa brewer joins us there what happened? i saw statements from fanduel saying they were experiencing outages. was it all driven because of the surge in betting demand? >> well, i mean, that's part of it, dom. look, even before the game started, you had furious betters taking to social media to complain about online and moeshl crashes and there was a lot of swearing

one tweeter wrote, how is it i'm seeing fanduel commercials on my television almost rubbing it in that i can't even place a bet. i'm told fanduals outages were intermittent because it exceeded expectations in michigan, they love sports betting and it just launched last month in nevada it wasn't just the betmga app, it was all the retail sports books. mgm couldn't take bets during the game or settle afterwards. they were still working actively to try to close out tickets at closing time in the sports book. barstool got complaints over its app crashes. penn gaming didn't point the finger at camby, draftkings did. in the meantime, draftking says it appears this outage was caused by a surge in traffic that caused problems for our

back-end provider. our dfs, daily fantasy sports, and pools products supported by in-house technology are functioning without issue. this incident is why we believe owning our own technology is important. draftkings announce the last summer it would terminate its deal with camby this summer. they went as far as crediting customers they thought were affected, giving them 20 bucks william hill and others saying their operations were smooth and globally record demand for online wagers, dom, was expected. >> i mean, it was certainly expected the marketing that went into this, i saw so many commercials for draftkings and fanduel i don't have an account but i was tempted to take advantage of that 55 to 1 odds they were giving on $5 bets for the chiefs or the bucs. what is it all this mean, theen? what are the implications for these platforms? will they be able to scale or is this an event that's a one-off, we don't get super bowls every

day, now they can adjust and everything will be fine down the line >> they were having tech meetings late up until the game to try to make sure everything was ready to go and would operate smoothly they expected this rush of demand there's going to be, i'm sure, internally heads rolling at each of these organizations the real question is, what happens to their customers a lot of these companies spent a lot of money on customer acquisition. if you bring them in and then your app is unreliable, you unf infuriate your customers there's not a lot of brand loyalty here customers go where they get bonuses and promotional payoffs and where it's easy to cash in and out. if you can't do that, you're going to ruin your relationship with them. i'm questioning what they spent on these ads and what they are going to lose in terms of customer confidence in their

product. >> you can lose customer confidence and product, but we're also talking about only a handful of apps really driving a lot of the action here you mentioned the barstool partnership with pan gaming, bet mgm, fanduel and draftkings. there's only a handful of players doing it do consumers really have a choice >> actually, there's a slew of opportunities for them to pick and choose it's just that there's -- right now there's some very big names. there's some other smaller names trying to make a name. points bet has the partnership with nbc sports. they're intent on making a run for it bowie, formally twin river, they plan to give these guys competition. winn resorts has gotten into this and live in three states and has market access in eight or nine. we'll see what happens as they try to elbow out you would think the fanduel, draftkings, penn has just spent

a fortune and a lot of time trying to make this barstool app easy and intuitive and available in pennsylvania and michigan so, to find complaints about it this early on, you know, i'm shr they thought the kinks were already worked out. >> contessa brewer on the betting mishaps ahead of the big game thank you very much. tom brady is going to run out of fingers to wear all of his championship rings brady leading the buccaneers to the super bowl victory beating the kansas city chiefs 38-9 winning his seventh title and fifth mvp award and he's not even done yet. brady saying he's coming back to do it all over again i'm sure tampa bay fans are happy about that for more on what we saw last night and the other big side bar activity surrounding the super bowl, including the betting we just talked about, let's bring in jabari young, sports writer i can't believe the chiefs couldn't even score a touchdown.

what stood out to you about the game >> first of all, good morning. i hope you enjoyed the game. what stood out to me was the two black coordinator, byron leftwich, but listen, those two guys really outdid themselves. they stopped patrick mahomes, stopped tyreek hill, stopped the former super bowl defending champions in the chiefs. i thought todd bowles' plan to stay back and beat those guys up front was brilliant. byron leftwich called a great game listen, you can't -- you cannot go against tom brady my boss was on slack and talking, who are we going to pick i said, you can't go against a guy like tom brady people love joe montana, all the great quarterbacks i wasn't around to see a lot of them but i am around to see tom brady. i have to say this guy is g.o.a.t. i'm saying this with peyton

manning being my favorite quarterback but tom brady took the buccaneers, first time in that place, to the super bowl. first team to represent themselves in the raymond james stadium at home, playing a home game, and he did it. and he did it and beat out bill belichick, i'm sure he loveded that it was a great game for me from a competitive standpoint and watching brady and mahomes go at it you're looking at past and present. mahomes is the future king, but until he gets that crown from tom brady, right now he's just a prince tom brady is still the king as long as he's playing. >> i grew up in a niners era back in the '80s and early '90s when they were huge. i'm a joe montana and jerry rice fan. we saw tom brady and rob gronkowski break the all-time postseason record for qb/receiver touchdown receptions how big of a deal is it that -- the fact that tom brady can reunite with rob gronkowski, two former patriots doing it together and winning a championship in tampa bay? >> listen, that was the front story and certainly a part of

it gronkowski hitting for two touchdowns, antonio brown, after everything that man's went through and making his presence felt in the super bowl nobody expected -- what we were talking on friday, we didn't expect the bucs would beat the chiefs by this much. i had a three, four-point game all around it was great. brady displayed his greatness, whether it's connecting with gronkowski, connecting with mike evans, connecting with any of his receivers out there. there's a reason he was crowned mvp. he continues to do it time and time again on the biggest stage of the nfl and that's the super bowl seven mvps what more can you say about that i know a lot of people are joe montana god, brett favre, all the greats but you cannot put tom brady underneath any of those guys i think he's number one. again, peyton is my favorite quarterback but it was good to see that last night. to see somebody of that age do that, at the highest of levels, you don't see that very much in

sports, especially a 40-plus year old guy. >> tom brady used to be an opinion as best guy but now it's becoming more of a fact with the numbers to back it up. i want to bring in sara thomas, lori locust, the three ladies who made a big impact on the super bowl sarah thomas trying to officiate a game, she did as the first female official and two female assistants for the buccaneers and winning a championship how big was that for gend equality in sports >> it's a very big deal. any time you see female involvement in male-dominated sports i have a 7-year-old daughter, and even though she doesn't like football that much, but when she sees the screen and watching her dad watch football and sees a female, she points them out. i think that starts the conversation of getting younger females involved in football and any sport. obviously we can talk about tom brady all day. we can talk about the fact that super bowl was first in history of being the way it ispandemic,n

amount of people, masks all over the place. once it's said and done and those things you mentioned, the three females you mentioned, i hope that doesn't go under the radar. especially for sarah thomas, to see that representation on the highest stage in football, the super bowl. >> as a father of a daughter, i couldn't agree more. thank you very much. we appreciate it coming up on the show, doordash helping softbank turn an $11 billion quarterly profit. those details coming up next. if you have not done so, subscribe to our new podcast "worldwide exchange" every day in audio format if you miss us live on air at 5:00 a.m. eastern time check us out on apple, spotify, whatever podcast app you choose. how do plastic bottles turn into this? wm and repreve have given new life to over 20 billion plastic bottles.

and we're just getting started. see how recycling is one of the many ways wm is always working for a sustainable tomorrow at wm.com/stories. the holidays weren't exactly smooth sledding this year, eh santa? no, but we came through smelling of mistletoe. the now platform lets us identify problems before they became problems. if only it could identify where my ball went. this you? hmm... no, mine had green lights. whatever your business is facing. let's workflow it. maybe i should workflow my swing...

servicenow. need better sleep? try nature's bounty sleep 3 a unique tri layer supplement, that calms you helps you fall a sleep faster and stay a sleep longer. great sleep comes naturally with sleep 3 only from nature's bounty overspending on a retinol cream? and stay a sleep longer. just one jar of olay retinol24 hydrates better than the $100 retinol cream. for smooth, bright skin or your money back. olay. face anything. and try new retinol24 max. welcome back to "worldwide exchange." in corporate news, softbank is reporting an $11 billion profit

in latest quarter helped by big investment gains at its vision fund that's a positive change from last year when misses like wework missed. softbank shares up 4.5% in japan trading me. joining us is joel shulman softbank is part of the story. it's really technology in general. why is it such a dominant theme and outperforming so much and will it continue >> technology has been very strong we had a disruption in the marketplace beginning with covid last year. we see the big players that have benefitted last year in 2020 with the largest caps benefiting we're now seeing smaller companies perform well last week our small caps were up 11% driven by a couple tech. we're also seeing a lot of strength in international stocks, particularly in china, where hong kong has benefitted

and actually seven out of our top ten picks are based in hong kong we're seeing technology, but health care particularly small cap, very strong in the last six months, nine months. >> can we expect that capitalization story to continue by that i mean that small cap stocks and midcap stocks continue to have the relative momentum edge over those large cap stocks that performed so well last year i look at the russell 2000 small caps over the last three months and it's even blown away some measures that we tend to watch all the time as bullish, like the nasdaq >> you're right. we're up 20% year to date small caps we have to remember, install caps have been outperformed by large caps over the last five years. outlarges have outperformed small caps by 60%. so, if we only focus the last three months, we have to remember this story goes much further back small caps have a lot of room to

catch up they caught up the last three months last week they had a very strong period we see this running for a long period of time we see two areas of strength -- small cap u.s., international, particularly asia from a global standpoint >> now, you mention that asian story, the international story as well. we're hearing a lot more chatter from investors, investment professionals, strategists that say there is better value to be found outside the u.s. is that your case right now? if so, where do investors go for that >> 100% the valuations are better mainland china is going into hong kong. u.s. investors, 40 billion of the 60 billion year-to-date is going into international, primarily asian markets and china. the pes in hong kong are 12 to 14, in u.s. it's 23. there's a 50% reduction going from u.s. to hong kong

tech is 68 pe. appreciably lower discounts. we also have to remember with regulatory issues allowing money to flow easily from mainland china and the u.s. going into -- there's encouragement because the avrs have been beat up a little bit because there's concerns about securities being delisted investors are going directly into the markets we see hong kong being a great place for companies like e-hang, up 200%. the strongest growth stories in the world, we tracked 55,000 companies. this one is top 20 in the world. multiples of returns in terms of revenues going up five, six times. we see great growth stories. last week we saw an ipo pop 300% on the first day biggest ipo ever in hong kong. >> joel shulman, thank you very much, sir.

>> thank you have a good day. let's check out what's happening with futures right now because they are implying a roughly 100-point gain for the dow at the opening bell. the s&p higher by roughly eight to nine points that does it for us on "worldwide exchange. quk x" picks up the market coverage on super bowl monday coming up next the new lexus is. all in on the sports sedan. lease the 2021 is 300 for $359 a month for thirty nine months. experience amazing at your lexus dealer.

good morning south africa will stop using the astrazeneca vaccine after a study showed it wasn't protective in preventing the variant. sharesof hyundai and kia after the automaker says they are not in talks with apple to develop a car. and tom brady does it again, winning his seventh super bowl in a game that wasn't nearly as close as expected. we have the highlights and the

best moments from, not just the game but the commercials it's monday, february 8, 2021. "squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" on cnbc. happy monday welcome back from the weekend. i'm becky quick along with andrew ross sorkin and wilford the markets are something to be watching this morning. remember on friday you saw the nasdaq, the s&p 500 and the russell 2000 all close at record highs. the dow closed about 40 points from its record high if you check out futures this morning, you'll see with those gains, it's up almost triple digits, up 99 points, or 100