. it is 5:00 a.m. at cnbc global headquarters, and here is your top five at 5:00. stocks looking to wrap up a tough week ads bond yields continue to rise and spook stock investors creating an exodos from riskier assets. hedge funds once again on the defense as names like gamestop see a resurgence in their share prices the food and drug administration giving the green light for new storage requirements on pfizer's vaccine. we talk to the head of one major hospital network on what that could mean for getting more treatments out to americans.

at&t striking a deal to help ease the burden of its costly tv division and its big bet on entertainment. and facebook, a step closer to facial recognition. we'll tell you about the ambitious endeavor the company is looking to tap into that technology for it's friday, february 26th, 2021, and you are watching "worldwide exchange" right here on cnbc. good morning, happy friday i'm dominic chu in for brian sullivan today, and here's how your money and the global markets are setting their final day of the trading week up for the week and the month futures right now indicating what we'll call a stable opening bell the dow jones implied higher by 9 points, the s&p higher by 10, and the nasdaq trying to recover up an implied 35 points at the opening bell if these futures moves hold into regular cash

equities trading it's been a tough week for the markets. investors have been dumping riskier assets the dow only down less than half a percent at this point, amid a sector rotation into sector names. the s&p is down nearly 2% as you can see the nasdaq has fallen nearly 5 1/2%. that's just so far this week still, though, markets are looking to close out february on a positive note. the dow up more than 4 1/2%, with the s&p up 3% during that time span. the nasdaq fighting to end in the green, up less than half a percent. it will all be critical today to see whether the month closes positive for the nasdaq. the big drops we have been seeing in the marketplace are stemming from that big jump in bond yields. the rate on the ten-year treasury note, briefly soared as high as 1.6% you can see backing off a bit, 1.47% for the benchmark treasury yield. two-year note yields a hair blow

15 basis points or .15%. the jump in the ten-year also put it above the s&p 500's dividend yield, meaning that equities have lost that fixed payment premium over bonds so something to keep an eye on this also want to get a look at what some of the stocks at the center of the short squeeze are doing you can see gamestop shares up in the premarket, $115 this change the last trade there. amc, blackberry, and nokia, short squeeze costs we have been seeing, with relative volatility in the last couple of months, down in the premarket trade. coming up, we're going to look at how hedge funds are turning to social media to protect themselves against this kind of price action to figure out where those mean and internet related stoc stocks are going to trade next the riskoff trade is bleeding over into asia, stocks are closing out the week with heavy losses the shanghai composite over 2%

declines the hang seng off 2% the nikkei in japan off nearly 4% very red in asia we are in the red but off our worst levels of the day so far you can see the cac in france is down by 1/2 of a percent similar declines for the german d dax, and the ftse 100. now to the latest action in terms of vaccine rollout in the u.s. the fda is giving the green light for how one treatment is stored bertha coombs has more on that and your other morning top headlines. good friday morning to you, bertha. >> this could be a game changer. the agency is easing ultimate t ultra low temperature requirements previously stored at negative 112 to negative 160. that bodes challenge for rural areas or lower income countries

that don't have ultra cold storage capability the vaccine can be stored at standard freezer temperatures for some time. at&t meantime has struck a deal to spin off components of its tv unit into a new company. the company agreeing to sell a stake in its direct tv, at&t and u-verse businesses to private equity firm tpg. the newcompany will be called direct tv, jointly owned and run by the partnership, the transaction implies an enterprise value of 16 1/4 billion dollars. and shares of doordash are deep in the red this morning after posting its first quarterly results since going public revenue of 970 million topped expectations but the food delivery company reported a lot of $2.67 a share doordash warning the outlook looks highly uncertain and some of the tail winds could ease as

lock downs are lifts tony xu will have more in results this morning in a first on cnbc interview at 8:40 eastern. dom, there's going to be a shift but i'm not sure that people are going to go back to doing everything the way they did. i mean, it's very convenient to have your groceries delivered rather than having to take time to go to the store and go inside sometimes. especially if you've got young kid, and don't to want deal with, you know, having to take them away from the candy, and all the other things at the checkout. >> i would say this, i think that you're right. it will take some time, but at the end of the day, we are a social kind of group of people, right. we do want the interactions out there in public and things like that so at some point, you could see, bertha, some of those trends come back into play. bertha, thank you very much for that appreciate that. back to the markets now as stocks look poised to continue that selling that's been gripping markets all week along

a amid rising interest rate fears. gloria green, founder partner and chief investment officer of g square private wealth. has anything that's happened in the last week or so in terms of the selloff changed your thinking about how to invest in this market? >> certainly we're watching the yield curve. yesterday was a fairly rude awakening, especially with the five-year more on the flattening, you know, the steepening was kind of in par with the economic recovery and the thought that, okay, the ten high temperature year and 30-year, especially the 30-year need to go up just because the economy is recovering, but i think what spooked yesterday was the flattening in the five-year going up 20 bits, and that squared people a little bit. i see that for as anxiety or bond-iety perhaps. they need to be watching their bond positions because this year might be similar to 2013, not quite taper tantrum, we're not calling another taper tantrum but we need to make sure your bond positions don't bite you.

so for the last few years, being long duration has paid off but we may see that where you need to understand your duration, and maturity, feel comfortable with it, look into a laddering strategy to off site >> the laddering in strategy is more this notion that you have to kind of go out and tier some of those maturities that you have out there, match some of those possible liabilities or obligations that you have down the line victoria, i'm curious whether or not you feel as though the move we have seen in the markets right now with rates is due to inflation fears. it doesn't seem as though that's the case many of our guests have said this is not run away inflation in fact, we're back to levels we saw modestly before the pandemic >> it's not run away inflation i think it's fears of future inflation, which is why it's so much about anxiety of the future, and also fears that the fed may have to move faster, but actual inflation, yes, you're seeing it slightly in

commodities, copper at a ten-year high, oil back to reasonable prices but you're not actually seeing inflation to the consumer all that much, possibly in housing it's certainly there, but a lot of the other sectors of the market, inflation remains muted. it's not necessarily actual inflation. i think it's more anxiety over the future still. >> if that's the case, then, how exactly do we feel we should be investing in this marketplace right now? are there certain places that you want to gravitate towards, stay away from if there is a modest level of inflation down the line, not run away, you would want to be in growth oriented stocks, maybe just not technology. >> right and we are definitely value over growth right now you're seeing that play out, even though the dow got hit, it went down half as much as the nasdaq value stock certainly, the cyclicals with the reopening play we still like energy financials should get a boost, you know, the spread's narrowing kind of hurt them yesterday. they were up on the day. midday when the seven year

option went terribly, you saw the financials pull back financials have a good opportunity in a period of rising rates growth is something you have to understand, it's been leadership for so long, and this rotation of value might give you better opportunities going forward, might be harder for the growth stocks to continue to outperform in this market. >> now, what's the biggest risk you think out there right now? where should you not be besides maybe from a risk adjustment standpoint. >> i think you need to watch your thematic plays. i think they have been great, people have made a ton of money but the holy trinity of the art funds, bitcoin and tesla is volatile i would warn people that have made that core holdings in their portfolio, those are thematic satellite plays and they might bite you a little bit. we actually like bitcoin we think it's a good -- high liquo li ly correlated sector

quality stocks with good balance sheets are going to benefit from reopening. >> we appreciate it, have a nice weekend. >> you too take care. now to washington, d.c. and the developing story surrounding president biden approving a u.s. air strike on iranian backed militias in syria. the international development coming as the president turns his attention to key domestic priorities today nbc's tracie potts joins us with a break down of the headlines. >> good morning, as the president heads to texas today, the white house says he'll be packing food and water for some of the families suffering from storm damage there he will have his eye on the middle east where the u.s. just took military action in the last 24 hours to eliminate a threat >> instead of chasing covid-19 -- >> reporter: in his first known show of military muscle, president biden ordered air strikes in syria, targeting militants backed by iran. >> we're confident in the target

that we went after we know what we did. >> reporter: it's pay back for an attack in iraq that killed a contractor and injured one of our troops. >> i think it was a good move. it's a signal back off, if you want to reopen negotiations on a nuclear accord. >> reporter: the move comes as biden heads to houston today. >> to make sure the people of texas know we're thinking about them, we're fighting for them. >> reporter: families are suffering from winter storm damage with enormous electric bills and no water >> i go to the pool, fill up a bucket of water and do that two or three times a day. >> reporter: while there, the president will deliver a health center delivering covid vaccines after announcing the u.s. is halfway to his goal of 100 million shots in 100 days. >> the more people get vaccinated, the faster we're going to beat the pandemic. >> reporter: the administration focusing on getting more shots to local pharmacies, and under served communities today, the house votes on a relief package that includes a $15 minimum wage

>> it's long overdue and it will be phased in. >> reporter: but the senate parliamentarian has ruled the wage increase cannot be included. >> the minimum wage doesn't belong in there. >> reporter: setting up a show down to approve billions for families, small businesses and schools by mid march now, the white house says the president's disappointed but he'll respect the process, dom, and that he will try to work with lawmakers to find some other way to get that minimum wage increase in. >> international and domestic issues facing the administration thank you very much, have a nice weekend. when we come back, capitalizing on the electric vehicle, the ev boom, eunice yoon lays out how china plans to make big strides in that sector. and bob garrett breaks down what the potential approval of the johnson & johnson covid vaccine could mean for getting more americans vaccinated. and your morning's stocks on

the move, including beyond meat striking deals with two fast good giants. we have a busy hour straight ahead when "worldwide exchange" returns after this break ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward, with serious and reliable internet. powered by the largest gig speed network in america. but is it secure? sure it's secure. and even if the power goes down, your connection doesn't. so how do i do this? you don't do this. we do this, together. bounce forward, with comcast business.

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with peace of mind at your local xfinity store. welcome back to "worldwide exchange." let's take a look at some of the sectors and names you need to watch amid the market's continued turmoil. first of all, this is the i shares usa momentum factor etf, and the minimum volatility

factor etf they're a mouthful, but mtm and usmv the momentum are toward the momentum type names, high growth ones and low volatility gravitate towards more value oriented type stocks take a look on a year-to-date basis. for the momentum side of things, look how far the decline has come meanwhile, minimum volatility hasn't performed that badly. just not well. momentum stocks showing steep declines echoing what has been happening with the nasdaq and the marketplace. we spoke with victoria green last segment about this idea that inflation, is it driving things and the concerns in the marketplace right now. in past parts of history in the market where inflation has been a concern, we have seen gold prices rise. now, to this point, gold is down to 17.62 in today's trade.

over the last yoear up about 7%. we are hovering around 8-month gold for prices. if you're watching inflation, maybe it's not run away if gold prices keep falling the way they are now. something to keep an eye on. now to the growing boom in electric vehicles, the ev market, as the biden administration looks to continue to promote those cleaner cars, that could create new opportunities for chinese electric auto makers eunice yoon joins us with more on that story. hello, eunice. >> reporter: thank you so much, dom. you know, china is the largest market for evs, but today i was at a manufacturer that's already drawing up plans for the u.s freeman chen is hopeful cars like this will one day be on american roads, with president biden prioritizing new energy, chen sees opportunity for all electric vehicle makers, including his chinese start up,

wm motor. >> the largest car market in china already in the ev, and america also going to start. >> reporter: shen's company turns out tens of thousands of evs at factories like this one here in china for china. the cars made here cost about $15,000 apiece the shanghai firm which focuses on suvs for middle income chinese benefits from aggressive ev subsidies, part of beijing's efforts to wean off imported energy and out maneuver the west's dominance in traditional engines. >> china has the best supply base for the smart electric vehicles the u.s. and europe have a much better supply base for the combustion engine. when we move to u.s., some of the experiences is quite benefit to us. >> reporter: even so, the former detroit resident sees obstacles ahead. >> people will feel worried about a brand from china you're talking about security. that's why you have the u.s.

team. >> reporter: one big reason for shen's faith >> american consumers are very open we like american consumers we hope they like us also. >> reporter: shen says that he and his team are already having detailed discussions and that the idea would be to have r and d, manufacturing, services, distribution all in the u.s. for the u.s. rather than export from here dom. >> so eunice, i guess i'm kind of curious, you mentioned that china is the world's biggest ev market so why is this company looking to come to the u.s. instead of using china for its opportunities? it seems like for right now, the iron is hot in china and there are more people buying those evs there. >> reporter: well, the company wants to be a global company, so he had told me they want to be able to sell in the u.s. they want to be able to sell in china, and in fact, they have been really excited that they

have a very advanced manufacturing facility where they could have customized cars that are sold once you place your order online here, and then of course the government is prioritizing evs in fact, next week, beijing policy makers are supposed to be unveiling their next five-year plan, and in that plan, they're expected to say that one of the priorities is to have new energy vehicles, one in every five cars, a new energy vehicle by the year 2025. so obviously there are a lot of subsidies and policies here as well that are meant, dom, to really encourage the sale of evs in this rcountry. >> eunice yoon on the latest of the race between the u.s. and china in electric vehicles have a nice weekend. still on deck here, those short squeeze stocks rearing their heads yet again. our own leslie picker will break down how hedge funds are turning to social media to take on retail investors and february is black

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welcome back to "worldwide exchange," a number of stock movers to feature. first up, beyond meat, shares the alternative meat company spiking in news that the company will be supplying mcdonald's and mum mum's, those shares up 4%. the stock leveling out, but with the company posting quarterly results with missed expectations, those shares on the move you have shares of nikola, dropping nearly 7% yesterday after posting a quarterly loss, though it was smaller than expected by analysts it is lowering delivery

expec expectations those shares off 2 1/2%. the company in an internal probe finding that the founder trevor milton made inaccurate statements about its technology. this is notable because until now, the company has denied misleading communications with the public the internal investigation follows a report by short seller hindenburg research which included him of isleading investors. the justice department and s.e.c. opened inquiries. and virgin galactic pulling back on the company's announcement that their next space flight test will be delayed until may. the company reporting a loss for the fourth quarter that was in line with analyst expectations those shares off 11% in the premarket trade. still on deck for the show stocks fighting to stop the losses as rising rates continue to rattle some big investors we'll have more on that coming up after this break. no one likes to choose between safe or sporty.

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the reddit rebellion, the so-called meme stocks taking traders on yet another wild ride washington watch, a senate official ruling a $15 minimum wage cannot be included in president biden's $1.9 trillion covid relief bill. and speaking of the coronavirus, fda advisers are meeting today to consider approving johnson &

johnson's one-shot vaccine we'll talk to the ceo of one of the hospital systems responsible for administering the jab in this new york tristate area. it's friday, february 26, 2021, you are watching "worldwide exchange" right here on cnbc ♪ welcome back to "worldwide exchange." i am dominic chu in for brian sullivan on this friday morning, and here's how your money and investments are looking halfway through the 5:00 a.m. eastern time hour. stock futures are stable the dow jones right now pointing towards just a modest 20 point rise at the opening bell the s&p 500 implied higher by 10 po points, and the nasdaq 12 to 13 points here. modest gains in the premarket. but it's been a very tough week for stocks and the markets, as investors dump riskier assets, especially some of the big technology names the dow only down less than half a percent amid the route, amid a

continued sector rotation into cyclicly oriented or economically sensitive names the s&p is down 2%, while the nasdaq has fallen about 5 1/2% so far just this week alone. watch again those trends play out in the market today. still, though, markets are looking to close out february on a positive note. the dow is up more than 4 1/2%, with the s&p up 3% the nasdaq, though, is fighting to end in positive territory for the month. it's only up about a 1/2% right now. today will be key. we also want a day to look at some of the stocks at the center of recent short squeeze plays, seeing wild gains again in recent days. right now, gamestop at the center of it all is up another 7% here at $117 a share. roughly thereabouts. amc, blackberry, and nokia are down in the premarket trade. they have been volatile as of late the meme stock saga has hedge funds, again, looking over to social media sites for data to protect themselves against this

reddit crowd think of it as an arms race of sorts between retail traders and institutional ones our own leslie picker joins us with that story. i have to say, i have been kovg t covering this for a long time. i remember the early days of twitter when hedge funds were scraping cash tags to see what stocks were talking about. this doesn't seem that different. >> you're right. it's not that different. it's not new, but it's being used in a new way. for hedge funds, there were some hard lessons learned the first time gamestop skyrocketed. as a result fewer appeared to have been caught on the wrong side of the trade this week. that's in part thanks to a tool that as we mentioned, certainly not new to the hedge fund industry but recently it's being used in a new way. that tool is specialized data, pulled through algorithms that scrape through social media sites to get a sense of what people are saying. these types of data have been deployed for sourcing investments opportunities and

doing due diligence. increasingly they're being used for defense as a way of protecting portfolios. >> these social media conversations, this attention that companies are getting has the potential to be a risk it could be a risk to the up side, it could be a risk to the downside everyone is recognizing that it's something that they need to at least start to understand, and at least start to take into account when they're making those investment decisions >> selling scrape data to investors, an increase in mentions on social media was a leading indicator for the gamestop pop this week thinkem's cofounder says he's seen a huge outreach in current and prospective clients. not all content on the internet is clear cut for example, a tweet of ice cream is said to be at least partly responsible for the surge

in gamestop this week. i would say it would take a very very smart algorithm to pick up on that nuance, dom. >> they can even pick up on images like ice cream cones for but you mentioned firms that are sifting through some of these social feeds, some of these social media posts for hedge fund clients but aren't these algorithms something that funds can build internally on their own or do they need to have this kind of data and access to it through kind of apis, these different feeds as well. >> absolutely, they can build it on their own, and that's actually something that melvin capital's gabe plotkin, if you recall melvin was the hedge fund at the center of the whole gamestop saga, seeing losses of 53% in the month of january, largely over wrong way short bet positions. gabe plotkin when he was testifying in front of congress last week, he actually mentioned that they have now data scientists in house that are

sifting through the various feeds on social media that they don't have a repeat of what happened to the firm back in january with gamestop and some other names. >> yeah, risk management is always evolving there for sure leslie picker, thank you very much for that story. we appreciate it. to the broader markets now, and what we can expect following a wild week for some of those stocks and overall for the markets. joining me now is jill garvey, huntington national bank, and matthew, thank you so much for being here jill, we'll start with you has anything you have seen with the volatility in short squeeze stocks really changed the overall thesis for why investors should still be invested in the market right now >> good morning, dom it's great to see you. well, first of all, we think that stocks will continue to have a great year. since november 9th, when the pfizer vaccine was announced, we really have seen buying all over in the equity markets. and i think what yesterday taught us is that the stock

market doesn't go in a straight line we're utilizing that volatility as an opportunity to buy in. we've been positioning for a post pandemic environment, so we really have been putting into small caps, mid caps, emerging markets, and we're still very faf f favorable on the equity markets. we're watching fixed income. we have been short on the yield curve with high quality, and we're looking to move in as rates continue to move up. >> that's not all that unheard of it's been the better part of a story for the last decade. matthew, does that resonate with you as the macro environment right now, still constructive enough to say that, hey, anytime there's a dip in the market, investors want to jump back in to some of those risk assets. >> thanks for having me on, dom. i think the key here is how quickly this bond market selloff continues, how quickly we find some stability in the bond market, and the composition of

the bond market's move as we saw just yesterday, the move became very unruly, and in fact, it was dominated by an increase in real interest rates, which of course is very pertinent to the equity market if we can find some stability in the bond market for the rest of today, next week, then i do think the broader equity complex will get back on track. >> matthew, could i follow up on that because we just showed a one-year charge of ten-year yields and what it did show is that yes, on a relative basis, the move higher in yields has been rapid over the last couple of months now. take a look at the first part of the chart. that was right before and during the pandemic yields plummeted even further than the yields are rising right now, how exactly should investors be worried about the interest rate environment given the relative speed of the fall of the pandemic and the rise we're seeing the last couple of months. >> dom, i think the key here is the federal reserve. you know, naturally the federal

reserve was very active in the bond market in 2020 during the height of the pandemic the fed was injecting a tremendous amount of liquidity, really to bring that liquidity back into the bond market, and what we saw yesterday really for the first time since march is we saw the liquidity environment in the bond market completely break down that's why the fed is still necessary to support economic activity through its injections of liquidity, and we have great confidence that the fed will be back to make sure that the bond market is operating smoothly and in support of its broader manda mandate. >> jill, your clients have to be asking you have a lot of wealth management clients they have to be asking if this changes the calculus for why they should be invested. they have made a lot of money for people invested in the marketplace right now, but you said you're starting to pick

places you want to be. is it really an environment right now where you feel as though you can still be invested but then have it be a stock picker's type market >> that's a great question, dom, and we do work with a number of clients specifically business owners in the great lakes regions and, they have all of these same concerns and those concerns are driving them to revisit their exit strategy and business succession plans, as the cost of borrowing goes up and given the concerns in the market, they're looking to liquidate their positions in their businesses as we know, there's a lot of m&m activity, there's a lot of cash on the sideline, so as that comes in, that cash comes in, yes, we're looking to position favorably in the market. we're looking at materials and industrials right now, and we still see opportunities in technology. >> i'm kind of curious, you mentioned that many of your clients are small business or medium sized business owners be that they're looking for

liquidity events right now is that a general theme that you're seeing right now that small business owners are looking to get out while the getting is good? >> they are, because again, there's a lot of cash for companies that have strong, healthy, balance sheet, and we have a number of clients who are just that. and going through the pandemic has caused a lot of emotional response with our clients, and they're looking at making lifestyle changes. so given the fact of what i just said, and the fact that we could have tax policy changes, that's another key driver, the fact that capital gains rates could almost double. again, a potential tax policy change that we see coming potentially after 2022 has business owners thinking, gee, maybe i should sell right now, while i can lock in a capital gain rate at the federal level that may be 20%. we saw a lot of activity with business sales, specifically at the end of last year. >> that's a big risk there

matthew, i'll give the last word to you what's the biggest risk you see in the marketplace right now outside of perhaps tax policy here in the u.s. >> the biggest risk ultimately is that the fed loses control over the bond market and the yield rise that we saw yesterday was just a prelude to a greater move higher in interest rates. that to me is the biggest risk in the market today. >> jill and matthew, thank you both very much for your thoughts we appreciate it have a nice weekend. >> you too. this morning's big headlines, bertha coombs is back with some of those good morning again, bertha. >> a couple of headlines on boeing this morning, beginning with a story in the "wall street journal" that says the company was planning to replace and strengthen engine covers on its 777 jets before recent failures. that, according to an internal faa document but changes to aircraft parts can take years of work, including testing is regulatory

approvals. the other story on boeing this morning, a boeing 777 operated by a russian airline was forced to make an emergency landing in moscow today due to engine trouble. the plane was operating as a cargo service, no injuries reported and it's not clear yet what type of engine was on that plane, whether it was another one of those pratt & whitney engines. in washington news today, the nonpartisan senate parliamentarian has ruled a $15 per hour minimum wage cannot be included in president biden's $1.9 trillion covid relief package under the so-called budget sreconciliation process which allows democrats in the senate to pass bills with a simple majority. it is likely out of the bill a facebook executive confirming the company is looking at including facial recognition technology in its upcoming smart glasses, but in a q&a, the

company's head of hardware said the technology would only be included if people want it facebook is teaming up with r rayban with trying to release the device this year i'm not sure what civilians would do with facial recognition. it raises questions if it's something used for law enforcement. i would imagine more of a use case. >> what's old is new i'm old enough to remember, and i'm sure bertha, you are too, the google glass remember that back in the day as well thank you very much for that coming up on the show, the morning's big stock movers, etty, as shares continue to benefit from the stay-at-home play e etsy shares up 6 1/2% premarket. ♪♪ it's only human to care for those we love.

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you're not using too much are you, hon? charmin ultra soft is so soft a 4-week trial plus postage and a digital scale you'll have to remind your family they can use less. charmin ultra soft is twice as absorbent so you can use less. enjoy the go with charmin. welcome back to "worldwide exchange," a number of stock movers again this morning. first up, you've got salesforce. shares of the software company sliding just by having released better than expected earnings for the fourth quarter the stock reacting to the company's disappointing earnings guidance for the full year salesforce ceo marc benioff talked about the company's plans for growth on "mad money" with jim cramer just last night. >> we have this $50 billion dream, you know that, so we're going to do more than 25 billion this year, but we want to more than double this company in a relatively short period of time,

and it's these existing contracts that are allowing that to happen. it really creates the momentum of the republican over time. >> shares of salesforce, you can see right now, down 2 1/2% in the premarket trade. now to shares of etsy, the online retailer posting quarterly earnings better than analysts expected with revenue growth up 129% the company also providing upbeat guidance for the current quarter. those shares of etsy up 6 1/2% and don't miss etsy ceo josh silverman in a first on cnbc interview at 7:45 a.m. eastern time so watch that, it's coming up later on on "squawk box" this morning. >> and then lastly, take a look at shares of airbnb, the company, the launching company shares ticking up after the company's first quarterly report since going public airbnb also saying it anticipates that first quarter bookings will be up compared to 2020, but lower compared to

2019 so those shares up 1 1/2% in the premarket trade. coming up on the show, the fda potentially set to give johnson & johnson's vaccine the green light for emergency use authorization, eua the ceo of hackensack meridian health robert garrett explains what that will mean for vaccinating millions of americans. if you haven't already done so, subscribe to our podcast. if you miss "worldwide exchange" daily here at 5:00 a.m., check us out on apple or spotify or orwi excngast apps "wlddehae" podcast audio format will be right back.

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march, and a hundred million doses by the end of june that's a possible pandemic game changer. joining me now in a "worldwide exchange" exclusive is robert garrett, ceo of hackensack meridian health, new jersey's largest health network, and operating the megavaccination site at the meadowlands racetrack in east rutersford new jersey, can you update us on what the progress has been in vaccinating people in in new jersey and the greater metro area, has it been relatively smoother than the initial rollout of vaccines. >> good morning, dominic, and thank you for having me this morning. yeah, i would say the overall rollout is going well. there have been a couple of bumps. overall in new jersey, we have vaccinated over a million 700,000 people at hackensack meridian between our mega site and hospital

sites, we have vaccinated 150,000 people so i want to put it all in perspective because if you think about it, just a few months ago, there was no certainty that we were going to get a vaccine this year at the beginning of the pandemic, people were talking about years, not months until a vaccine would be available so the fact that we vaccinated this many people in a relatively short period of time, i think we're at about 65 million across the nation, i saw yesterday, president biden celebrated 50 million americans being vaccinated just since he took office so yes, there are some snags, and you know, i know people are frustrated because the demand is exceeding the supply, but i think it's getting a little bit better every day, and i'm still optimistic that we'll be able to vaccinate every american who wants one by the summer. >> the johnson & johnson candidate right now, the idea here is if it does get approved, it could be a massive game changer, 20 million doses in just the next couple of months here 100 million through the summer

is this a situation where the vaccine supply coming that large is going to get that many more people vaccinated. is the system in place to administer all of those possibly hundreds of millions of vaccines >> i believe the system is in place. it's being, you know, upgraded each day, and i think you're right to term it a game changer. the johnson & johnson vaccine if approved and we're expecting it to be approved over the next couple of days, if it's approved, it's a one-dose regiment, which gives it a major advantage of the two dose regiments there now, so we're hoping we can get into communities that other vaccines have not been able to get into also if you think about it, and the hospital sites a one dose, could potentially vaccinate in patients while they're there, and they wouldn't have to make an appointment to come back. you know, this really could be a game changer and the way i look

at it, there's 100 million doses promised from moderna by the summer, 100 million doses from pfizer, and now 100 million from j&j, i mean, that's a great supply so hopefully the systems you know, are being put in place certainly at our hospitals, at our mega site, we're ready the pharmacies are gearing up throughout the nation. some of the clinics, physicians offices, so you know, sas i sai, it's getting better each and every day. >> with the johnson & johnson vaccine, one of the big benefits, besides the single shot is the storage capacity if you look at a bigger, macro global perspective is the idea that you can have a one-shot vaccine that doesn't need to be held in ultra low temperatures better for the overall globe because you can go to under served places perhaps in africa and asia that may not have the infrastructure to get all of those people vaccinated. that becomes a big deal as well,

right? >> it's a huge deal. that's a great point from a global perspective, this vaccine really is a breakthrough because particularly in under served countries and even under served areas within the united states, it's been difficult to distribute the ultra cold vaccines so johnson & johnson just having to be stored in a normal refrigerator is a huge advantage in terms of access for particularly poorer countries. >> i'm a layperson here, so i'm obviously not a medical professional you're around them all the time yourself, robert i have heard a lot of chatter, just amongst my friends, my social circles talking about the differences between, oh, i got the pfizer biontech vaccine. oh, i got the moderna vaccine. johnson & johnson is a new variable here as well. is there any difference to them in terms of the efficacy, is there any reason people should be talking about which vaccine they get >> i don't believe so. i mean, they're all very very

effective. i mean, we have to put this in perspective. so the pfizer vaccine and the moderna vaccine are about 95% effective. the j&j, the johnson & johnson vaccine is a little bit less than that, but you know, the flu vaccine on a given year is about 50, 55% effective. i think last year's flu vaccine was 52% effective. so in relative terms, these are very highly effective vaccines, and you know, i don't think whether you get the pfizer or the moderna, the j&j, there's that much difference: so i think people should be encouraged to get the vaccine for themselves, for their loved ones, for their colleagues at work it's really really important and whether you get one or the other, you're going to be -- you're going to get the immunity that you're looking for. >> it's an important message for sure robert garrett, the ceo of hackensack meridian health in new jersey, one of the biggest tristate area providers of health services.

thank you very much, we appreciate it. and good luck with your campaign sir. >> thank you, dominic. that does it for us at "worldwide exchange," let's take a look at futures out the door neslight tick lower, the dow jos implied lower right now. "squawk box" is coming up next have a nice weekend. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ when you've got a business, you don't want to worry about slow internet or confusing cybersecurity. so get comcast business internet with fast, reliable speeds, and add the advanced security of comcast business securityedge. it combines the speed you need with threat protection. plus there's 24/7 support. it's internet and advanced security - made simple.

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what we called revolutionary change. ♪♪ . good morning, investors looking to wrap up tough week for stocks as a continued rise in bond yields rattled the markets, especially yesterday. a minimum wage hike is off the table, at least for now. we'll take you live to washington for an update on the $1.9 trillion covid relief plan. more than 50 million americans have now received at least one dose of a covid vaccine, and more help could soon be on the way. a key fda meeting on the johnson

& johnson jab. triple j it happens today friday, february 26th, 2021, that means march is coming "squawk box" begins right now. ♪ good morning, everybody. welcome to "squawk box" here on cnbc i'm becky quick along with joe kernen and andrew ross sorkin. and we're going to start like we always do with the markets, especially after yesterday's selloff. the dow was down by 559 points during the session that was a decline of 1.8% it slipped from a record high. in fact, we were almost at 32,000 the session before that you ended up closing at 31,402 yesterday. and by the way, the dow was the best performer out of the three major averages the s&p was down by about 2 1/2%, and then the nasdaq's loss of 3 1/2% was