it is 5:00 a.m. in new york city, 12 noon in south africa. here's your top five at 5:00, markets trying to rebound after friday's selloff this as politicians rush to try to slow the spread of the latest covid variant. the u.s., japan and at least a dozen european countries imposing travel restrictions from southern africa other countries halting in bound travel altogether. just as fast as the new variant has been identified, vaccines to fight the mutation could be on the way in a matter of weeks,

and current vaccines may still be effective oil bouncing back after american gasoline demand soars and could inflation be the grinch that stole in store shopping new data on black friday show you may be still staying home. it's monday, october 29th and this is "worldwide exchange. good morning, good afternoon, good evening and welcome from wherever in the world you may be watching, i'm brian sullivan, thank you for joining us on this busy monday, so let us get right to it. the markets and your money after so much analysis and study and discussion over the weekend on what we still know and what we do not know, what we do know right now is that stock futures are bouncing back a little bit dow futures they're up 176 right

now, s&p and nasdaq futures are also higher. tech may rebound the most today. if this holds nasdaq futures are up nearly 1% this follows a friday to remember, or forget, for stocks. many things happened all at once, you had news of the new covid variant breaking around the world, that spooked investors, many desks on friday short staffed due to the holiday and half day, so computer-based trading took over. and options traders may have been caught offside on their bet and had tosell that set to a nearly 1,000 point loss for the dow, down more than that the worst black friday for stock markets ever as stocks fell bonds got bought in a panic rush to safety. ten year yields fell back below 1.5%, they have risen above that briefly right now. keeping an eye on bonds as well. nothing got hit as hard as oil

on friday, crude oil down 13%, its fifth worst trading day ever since futures were started in 1988 many over the weekend suggesting oil may have sold off way too much given still strong fundamentals including recent gasoline record demand as well as what looks like no national lockdown in germany. they may have regional shut downs but nothing national we have a meeting on thursday, we get more on oil with lima kroft in a few minutes after friday's selloff on nearly everything let's check last week's score card, how the short week went. we got off to a decent start the big winner friday was fear, the volatility vix index spiking. natural gas rose 6%. the worst performer, oil, what

else, ending the week down 10% after the 13% on friday. remember, oil rose on the announcement of the release of our emergency reserves on tuesday. bitcoin ended the week down 7% small cap stocks they got hit the hardest, losing about 4% both the s&p and dow fell 2% they had gained earlier in the week a couple of things important to remember, one from sam stowbald. the s&p 500 typically gains 7% from its october low to the close of the market on year end. this year, we had already gained 9% so the markets may have been almost perfectly set up for a major pullback think about that 9% minus 2, 7, there's your average on what we see for the year the nasdaq 100, it is actually higher this month, even after

friday's meltdown. in fact, 19 of its 100 stocks are up more than 5% since the beginning of the month so friday notwithstanding, it has not been all that d devastating of a november. we have wall-to-wall coverage of it all this morning. covering the markets and the headlines surrounding the omicron variant we have matt taylor in singapore, karen tso in london. and alice barr is in washington d.c. let's begin with you, matt and what happened in the overnight trade in asia. >> it was an interesting session because the asian markets got off to a weak start tracking the performance you were talking about friday state side. but then as we saw the u.s. futures begin trading lifting a number of markets off the lows however we did see a negative session across many of the markets. it wasn't enough to pull the markets into positive territory

and we had declines in the order of 1.5, 2% for the japanese market hong kong down, korea down by 1% the shanghai ending the day essentially flat let's take you to the japanese market, this was the biggest decliner we saw. the nikkei 1.6% lower. you were talking about that flight to safety, a lot of money going into the japanese yen we saw that strengthen, which is, of course, damaging to the stock market there given the large export component, so the dollar yen trading around the 1.13 level. we had news from the japanese prime minister saying that all foreigners will be banned from entering japan from the end of this month, so that is tomorrow for us in the asia time zone, tuesday november 30th. the japanese nationals returning from some destinations, including parts deemed high risk have to quarantine

that hit a number of airline stocks through the the region, japan airlines down by about 4%. and a 3% decline for cathay pacific. and a bit further south in australia, qantas was also lower. and a broader border reopening is being delayed in australia by two weeks. back to you. >> matt taylor, thank you very much. let's go to our london news room and what is happening in the early trade in europe. karen tso is standing by with that how are we looking >> we picked up a little bit of that lost territory from friday, it was violent don't forget. but even steeper falls we witnessed friday on the french market in particular, down about 4.75%. the gains, they are modest we have gained about .75% on the uk

market 7% on french stocks and the german markets is one we're watching closely around the covid variant. the latest, fast moving developments we had several nations here report cases of the omicron variant portugal, scotland, france, denmark are the latest to announce suspected or confirmed cases here in the uk, prime minister boris johnson has announced new measures after the chief medical officer warned there was, quote, a reasonable chance that the new variant could bypass vaccines the country has so far identified nine cases of the variant with six new cases in scotland confirmed today the auto sector, concerns about the impact on supply chain, so it's just starting to improve, seeing a huge amount of plans rolled out, concerns now with borders closing in some cases it may impact those bottlenecks before it experienced, oil has

bounced back like the story in the stock market and oil travel and leisure, seeinga little bi of improvement after the selling friday trade >> karen, thank you very much. let's get back to omicron and what the world health organization is calling a, quote, variant of concern. at least 12 nations, including canada, the uk, italy, israel and hong kong have identified the variant within their borders mostly in travellers returning from regions that were already identified, namely south africa where the virus was first identified starting today, the united states will restrict inbound travel for noncitizens and residents of south africa and seven other african nations. while there is still a lot we do not know about this new variant and its mutations, vaccine maker, moderna, does not seem

that worried its chief medical officer saying the company could roll out a reformulated version of the vaccine to better fight omicron if needed as early as the start of next year let's send it to alice barr in washington good morning. >> reporter: good morning, brian. top white house officials are saying that they are getting real-time information from south africa where again this variant was first detected, noting that that coupled with the new travel restrictions will give a head start on the u.s. response this morning the race to contain a new covid variant sparking more travel concerns overnight japan announcing it will halt all inbound flights into the country starting today the u.s. is restricting travel from south africa where the omicron variant was first detected along with seven neighboring countries

those top officials say the strain may already be in the u.s. >> this is a call of saying let's put aside the differences we have, if you're not vaccinated, get vaccinated >> i'm having a meeting with my medical team >> reporter: president biden meeting with covid advisers and preparing to address the nation today. the white house in close communication with south african health officials urging calm. >> there's no reason for panicking as we don't see severely ill patients. >> reporter: what is concerning, experts say, the omicron variant show signs of mutating easily which could make it more transmissible and able to avoid immunity existing vaccines will still add a degree of protection against severe cases predicting we'll know more in about two weeks

now again, moderna says it's looking into possibly reformulating the vaccine to adapt to the omicron variant and something could be ready by early next year if it's needed despite that top officials are urging those who haven't gotten your boosters yet, don't wait. get yourself protection now in any way possible back to you. >> so much we still don't know one of south africa's leading professors coming out and saying the current vaccines do look effective. we'll get more on that later in the show thank you very much. let's get to the markets and your money your first guest says it's important to realize two things number one there's still a lot we don't know. number two, we are supposed to be buying when stocks are priced lower and he has brought opportunities and picks off of friday's shellacking mark, neither of us are

epidemiologists last i checked so we don't know where this is going to go, but having read a lot, i'm sure you did adds well over the weekend, what wall street, goldman and many orther are saying, what's your best take on the path forward >> good morning, brian obviously this thing sounds very serious, so i don't want to come across sounding incompassionate all. we know the playbook we heard the news from moderna, a potential vaccine in early 2022, the question investors should be posing to themselves right now, if i could go back in time would i have bought stocks on march 1st of 2020, st. patty's day of 2020 when lockdowns were happening across the country 100% of investors would have done that. so we know the playbook. when i look at friday, i think that was just a knee jerk reaction this morninglooks good so far but there may be more selling

this week. but you have to use the pullbacks opporopportunistly, me we see the correction we haven't seen in 18 months, i doubt it but i would be using the pullbacks opportunist cli c do you find any solace that the futures indicating that we might rise a little bit. the selling hasn't followed through, meaning key technical levels weren't breached, options got themselves straight on friday whatever happened on friday was not all fundamentals >> correct correct. i mean, obviously, ill liquidity was a huge issue on friday if you think about it, covid is all over the news headlines, but the stock market itself is

becoming kind of decsensitized news of the day. again we don't know -- we know that this is probably a more transmissible variant. we don't know if it's more severe, less severe, how effective the vaccines are we just heard from someone i believe you said in south africa that maybe they're still just as effective. so we don't know what's going on i think a lot of it was a knee jerk reaction. yes, i feel better when i look at the futures this morning and i see that we're rebounding a little bit >> yeah. yeah and we're going to hear, by the way from south africa live in about 15 minutes i teased a couple of names i'll throw them both out, give us a one or two liner on them stocks you like, small or mid caps

derm tech ands aspine arrow jells. >> dermtech had a run this year, it's back to a level that's viable, they have a way to detect melanoma, and it's curable when you detect it early, deadly if you miss it so they put a sticker on a lesion rather than a dermatologist doing a biopsy i've been to the dermatologist in the last few months, seen the signs up, you have to get the payers to pay for it i think there's a huge opportunity in dermtech right now. and then when we look at aspen aerogels, i'd rather play the e.v. space through the batteries, i've been buying since the low 20s.

so those are two stocks i'd buy right here, right now. >> all right a couple new names that maybe are good deals after friday's selloff. we always appreciate it. pleasure to get your views on this monday. we are just getting started on this very busy monday and when we come back, an interview you cannot miss, one of the south africa's leading doctors on what we know about the covid strain, what we don't, and what the world may be getting wrong right now. plus, why inflation could be taking a toll on the hot holiday shopping season, he said, our courtney reagan is here to report and an oil focus on the way as opec weighs what to do to counter any covid slow down and president biden's tapping of emergency oil reserves a busy hour still ahead when wex returns right teth afr is

welcome back to "worldwide exchange." and good monday morning here let's get a check on the futures right now because that is what it's all about, we are seeing a slight bounce back in stock futures. nothing near what we lost on friday we were down over 1,000 points on the do yw at one point on friday, seeing futures come back a bit. so likely bias is higher today we'll see where we go. there were some winners on

friday of course many of the vaccine and bio tech companies involved in fighting covid they got a bid. moderna coming off a 20% gain. this morning the top gainer again on the nasdaq 100. the airlines got slammed as politicians slam doors on travel over the weekend they are not bouncing back many countries imposing new travel restrictions. some slight gains but less than a percent for most of the airlines as well still on deck, more on the markets and your money this monday futures bouncing back just a bit. plus get more on the big weekend retail round up and what is ahead for online shopping and what may be an inflation impacting holiday. courtney reagan is here with that and more. we're back right after this.

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welcome back to "worldwide exchange." i hope you're having a good start to your day, the 2021 holiday retail strategy of stretching one day only deals into weeks or sometimes months may be taking the wind out of what is one of the busiest shopping weekends of the year. inflation also may be playing a critical role as prices rise courtney reagan joining us with what we have seen, what is still to come, and the day that used to be known as something monday for online shopping. good morning >> good morning, brian i know you don't like to say it. it's just what it's called

though today is the fifth and final day in the thanksgiving weekend shopping stretch and the stakes got higher headlines about a new covid variant starting swirls thanksgiving eve and took stocks down on friday something led to lower spend online while the quantification varies, according to data, shopper traffic surged year over year on black friday, up nearly 40% and 61%. according to sensor mat yotic a retail next. prepandemic shopping was down 28 and 27%. remember, many retailers closed on thanksgiving day this year and last, possibly shifting more store traffic back into black friday, compared to 2019 and the number of years prior to that. however, conversion or shopper

trips resulting in a sale was likely pretty strong while traffic was down on black friday this year compared to 2019, store sales were down 5% compared to retail next. compared to 2020, black friday sales were up more than 46% in store. but shopping trends online did surprise to the down side. for the first time adobe said digital sales on thanksgiving and black friday failed to grow year over year, sales were expected to grow 6% to 5.5 billion. black friday online sells fell 1% over last year at 8.9 billion. the forecast was for growth. forecasts were split on whether earlier shopping, instore shopping or cautiousness drove that but today is estimated to be the biggest online day of the year still with growth of up to 4%,

$11.4 billion, let's see if we can do it. >> we can. so talk to us about the promotions this year, courtney the historic rise in consumer prices, aka inflation, and what retailers are doing if we're hoping for these giant discounts, doesn't seem like we're going to get them. at least not on everything >> right exactly. it is very interesting obviously this sort of thanksgiving weekend, the stretch from thanksgiving through today is very promotional by nature. sort of the tradition of it all. it is still promotional meaning you are going to see discounts they have not been as deep as years past if you're looking on a range of product discounts when you may have seen 10 to 30% on average, you're looking between 5% and 25% off this time around actually, average unit retail, so the average price for which an item was sold over the

weekend was actually up 9% compared to 2020 and up 11% compared to year before. so inflation, supply chain, all playing a part but so too strong consumer demand, the ability to pay those higher prices. >> it's almost december 1st as well by the way, went to get a christmas tree this weekend, normally don't do it this early but they're already selling. it may not be what's on the shelves only, it may be what you put the gifts under going fast >> we did it too. >> sorry about the buckeyes. sorry about the buckeyes ahead, just as fast -- i had to do it just as fast as the omicron variant's appearance, vaccines to fight the mutation could be on the way in a matter of weeks. what the ceo of moderna is saying that may make you feel a little bit better on this monday morning. dow futures now up more than 200. oil up 4%. and we are back right after this

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traders coming back to their desks and coming back to stocks. futures are higher after friday's 900 point selloff on new covid concerns this as politicians rush to shutdown travel, closing borders and stopping flights even as there's hope that current vaccines may work on the new strains. the south african doctor who alerted the world to omicron joining us in moments.

oil on the rise and turning attention to opec and what the group may do on thursday in reaction to covid. president biden's tapping of america's emergency reserves selena kroft is here it's happening on this monday, november 29th, and this is "worldwide exchange" right here on cnbc. welcome or welcome back everybody, good monday morning i'm brian sullivan thank you for joining us on this very busy day, let us get right to it. here's how your money and markets are looking half way through the 5:00 a.m. hour, this after friday's big time selloff on everything but volatility and bonds that saw the dow's worst day since october of 2020 and one of the worst friday after thanksgiving ever -- in fact, i believe it was in percentage terms the worst drop ever.

stock futures indicating we may get a bounce back. fair value is in the red but dow futures up more than 200 if we get a bid in the stock, looks like the tech stocks get the majority of it the nasdaq futures are up more than 1% as well. almost 200 points themselves on a numbers basis. so looks like we could get a slight bounce back for stocks. certainly nothing on the magnitude of what we lost on friday but it's early that selling may not continue today. let's get now to the reason why the markets fell off on friday that is the latest in the ongoing discovery of the omicron covid strain japan announcing it will close its borders to all foreign visitors beginning tomorrow. israel has already made the same move and there's a growing list of regions imposing travel restrictions, including here in the united states, australia, the eu and united kingdom. all this as more cases of the new variant have been discovered

across the world, with france, japan, canada, hong kong among others announcing new evidence of cases even in the scary headlines, there is good news, moderna says a vaccine specific to omicron could be ready early next year and it is still unclear if current vaccines will work just as well against this new strain. over the weekend, the world health organization coming out and saying due to the high number of mutations in omicron, the global risk of the variant is, quote, very high all right. well, amid concerns about the covid spread on friday oil prices crashed falling 13% in their fifth worst trading day ever oil futures right now are higher and all eyes are on opec, the

group meets on thursday and there is chatter opec could take a pause in adding new supplies to global markets. let's bring in halyna kroft. nobody knows more about the group than she does. welcome, hard to play this one as well. opec, by the way, supposed to have its technical meeting today and tomorrow they pushed those back two days. the big meeting itself, the one we talk about is still on thursday of course, they could move that, if you wish, why do you think they delayed that technical meeting scheduled for today? >> i mean, brian they're obviously trying to assess what the demand impact could be from this new variant they're also having to contend with the strategic stock pile releases we're seeing in consuming nations. so all the people who make the numbers for opec are getting together to assess what is the

demand outlook this is very important because this is an important meeting the u.s. has asked opec to continue putting 400,000 barrels a month on the market but there's a strong chance that opec is going to say no thank you and take a pause putting more barrels on the market right now. >> the united states is putting more barrels on the market with that 50 million or 32 new, because 18 was previously approved, new barrels. not a lot but more barrels on the market from the spr release on tuesday of course, oil rose that day, but the markets on friday may have done the oil market's bidding in sending prices down i have to imagine that his excellency is looking at that thinking why don't we use that three month or one month pause in our deal to sit back and see where that goes or helima do you think that would be touchy politically? >> i think he's proven to be the

oracle of this market. he has warned consistently we're not done with covid. he's expressed concern about covid variants so i think it's really a live option for them to take a pause i think it would be a hard for the united states to really, you know, go after opec at the moment for doing so. clearly this is a price range now that president biden should be happy with. i think it's a really tall ask to ask opec to put more barrels on the market given the uncertainty right now about this variant. >> yeah and demand, at least in the -- we'll see what happens. but according to gas buddy last week, four day record demand we've never had more demand for gasoline in america in a four day stretch than last week we are seeing domestic flights full, yes, international restrictions but the market here in the united states which we are the world's leading oil consumer, many would find that

unfortunate, but we are. demand at least currently appears to be strong and your colleague michael tran, saying your numbers at rbc friday took 120 million barrels off the supply/demand imbalance in terms of the dollar value. what's your take on supply and demand right now >> as you just mentioned, demand does look strong if you look at u.s. gasoline demand, so important to global oil demand, it is holding up the key thing we're watching is really what happens with government action. obviously we've seen what austria has done in terms of new lockdown restrictions. the question i think for demand will be do governments take action to restrict mobility. we'll be watching what happens in this country. the biden administration obviously does not want to adopt a politically unpopular lockdown again but that would be the big hit for demand would be do get a return to lockdown restrictions?

>> just a final question on opec because it is going to be so interesting to see what the group does, if we get a pause, do you think the u.s. starts chattering about the no opec bill again in congress as you have written >> i think given the selloff we have seen given the variants i think opec will likely get a pass from the white house if they take a pause. >> helima croft, the opec whisperer, thank you for getting up early with us i'll see you thursday, by the way, at the virtual meeting. >> yes coming up, the airline industry grappling with all the new developments, the travel restrictions over covid concerns phil lebeau has what it means. stock futures are higher by p , yp is 2%crtot'up

as well. we're glad you're up with us and we're back right after this. any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪

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welcome back the u.s. ban on travel from eight african nations going into effect today as the white house continuing to monitor the developing situation around the omicron strain those restrictions do not, however, apply to u.s. citizens. that's key the new rules coming as air travel in america rebounding to nearly prepandemic levels during

the thanksgiving holiday as carriers face another hurdle in the push to recover. phil lebeau is joining us from chicago on the cnbc news line. how is it looking? >> reporter: i think the fact we're seeing some of the european airlines moving higher, you see indication that the u.s. airlines will be higher. i think that's an indication that investors are saying did we do a shoot first, ask questions later approach on friday, which was the case for many investors here raymond james is out with a note this morning essentially saying -- i'm paraphrasing here -- you have got vaccines. you have got a number of methods for treating people if they do have covid-19. there is no indication at this point that you are going to see a massive falloff in air travel the way we saw things develop the first time covid-19 hit. that said, you never want to

have lockdowns on an international basis, because that's going to hurt or delay or pushout any recovery that we're already seeing in international travel and you have the news from japan that they are going to be locking down their borders or considering locking down their borders. that is the concern for those who are looking at the long-haul traffic patterns when you start to see borders lockdown or you see the uk saying we're not going to have flights out of south africa or into south africa that's the kind of thing that is concerning for the airline industry on an international front but you hit it at the top, look at thanksgiving, we're almost back to prepandemic levels in terms of domestic travel there's no indication that this new variant is going to change that enthusiasm for domestic travel >> you know, again, going back to the travel that we are seeing that is being banned, phil, it's

not that widespread. you have a couple of direct flights i was looking at one from johannesburg to atlanta on delta. it's not like we're closing a huge travel corridor, it's a couple of flights a week >> reporter: correct south africa and those countries impacted by the travel restrictions very, very small in terms of the overall global international flight market. and from the united states, you're talking in the month of december, a total of 88 flights into south africa i believe on delta or in and out of south africa on delta, 122 from united, which is going to be beginning service later this week to cape town. so it's very, very small >> we'll see if this does impact domest domestic fears as people get nervous again. we appreciate you joining us nice and early from chicago,

phil, thank you. let's talk about this. joining us is one of the first doctors to uncover the new strain, chairperson of the south african medical association and somebody we should all listen to right now. doctor, really appreciate you joining us this morning, an important interview, i hope we have the time. i was publishing stuff from you and your colleagues on twitter yesterday and over the weekend i saw professor kareem saying that current vaccines may actually still be effective against omicron. from your vantage point, what do we know right now, and what might the world, and some world leaders, be getting wrong? >> good morning. and good morning to all of your viewers out there. so yeah, it's a very interesting question so there's two things that we can look at it from two angles the one is, what do we know, is what are we asked as clinical

practitioners or family practitioners see a ground level and our current icu status and on the other hand the other angle is what are the scientists seeing in their experience, because it's two worlds. one is a scientific world and the other one is a clinical world. so at this stage in what we are observing is mild cases. as in this morning already saw three cases. but all three children under the age -- the oldest was 13, a 10-year-old and i think a 7-year-old so mild cases again easy to detect at home the cases we have seen last week and the week before last week, also mild cases. so we are looking for this -- the severe cases because the severe cases is what's going to say we are in trouble. i presume that might come later but not now.

now it's mild symptoms easily treated at home. >> the data we're looking at, and i published some national south african data showing across the nation, hospitalizations are down from your winter. however johannesburg one of the most densely populated areas of the world we have seen hospitalizations triple off their lows of a couple of weeks ago. can you tell us what the current trend of hospitalizations is and what we may know about who is in the hospital, vaccinated, unvaccinated, old, young, et cetera, doctor >> so that data is not available currently. so even if the numbers are -- you know, i'm not sure where the data is coming up from that -- the numbers in the hospitals, because in the region hospitals, which is the epicenter, i did a

survey yesterday and mostly two patients or now one patient that's been ventilated currently in one of the private hospitals and the others are there before we have start today see on the 18th of november and these cases. so, you know, it might be that the public sector hospital, seeing a bigger influx of patients and then again also not aware they are under any strain at this stage. again, that might change i know one hospital is -- they have seen a few young people with comorbidities coming into the icu. whether that's omicron or delta, i don't know >> that is coming by the national institute for commune cal diseases so i published the website yesterday that's what people in

the u.s. and the media and myself are looking at, sending around should we not be looking for that data for the accurate or entire picture, doctor >> we can look at that data. you know, i'm also looking at our data we have seen from discovery health and again, there's nothing significant that say yes, we are moving into a real problem going forward and the -- we will have to look and we keep on say, going forward over the next two weeks we will know what is happening if you look at the data, you will notice that yesterday, out of 12,300 patients tested, only 2,300 was positive and again, we're not aware of massive admissions to hospitals. it's not there

not in this region >> that's very, very good news and as i pointed out, south africa has some of the world's, if not the world's leading virology labs and research scientists because you and your colleagues have been dealing with so many viruses, fighting hiv and aids for so many years that you are identifying some of these mutations before the rest of the world do you feel like because you did identify and share this mutation in allowing scientists and vaccine makers to sequence the data, do you think like south africa is almost getting a bad rap in terms of the virus because people are saying this is where it, quote, came from. we do not know the origins of this strain, do we, doctor you simply sequenced it, identified it, and shared it

>> yes, you are absolutely correct. and that's the tragedy of it all. you know, we try to do due diligence. our clinician -- our scientists said look, this is what we are seeing, we share the data, we're telling you there are 30 plus mutations. we don't know what it means, we don't know what it means going guard. exactly what they did with the beta variant detected in south africa also. but this time, the world reacted different towards us and again, as in any pandemic, it's very, very early wave this is very,very early days we are mostly seeing young people coming in, the elderly that i have seen and that we have, you know, positive test that has been vaccinated, again really, really mild cases. no one has been -- need for any

hospitalization. so it might change, because if the unvaccinated people with comorbidities get sick going forward, yes, they will be admitted, but that's not to say the vaccine didn't work because they were not vakd they were not vaccinated >> it is the unvaccinated primarily, and like you noted, some with comorbidities as well. an important on the ground focus on what we actually know doctor, we appreciate you joining us on cnbc, an important interview. hope to speak with you again soon thank you, doctor. >> thank you stay safe. >> you're very welcome important headlines, folks she's saying right now she is not seeing any spike in hospitalizations, some of the public hospitals may be, she is not. something to focus on on the ground from south africa dow futures are up, we're back

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welcome back let's talk about the markets and your trading day ahead and bring in jeff killburg jeff probably have to cut it short because of that interview, we had to get it in you understand what's your best guess today or this week? >> the doctor laid it out well and the markets have gravitated towards her comments about the fact we're not seeing hospitalizations increase. you're seeing a bounce overnight on the s&p 500 we're seeing the nasdaq 100 up over 1%. i think this is all about the reaction we saw on friday. not a lot of traders in the marketplace. we saw the spike, it was actually the fourth biggest spike intraday in the vix. we see levels right now down about 20% from the high on friday i think the market is going to digest this. i'm optimistic and i think there's a ton of opportunity looking at boeing, united airlines and the stocks that got

thrown away, down over 10% on friday, as i think the market has a better understanding what the variant is i think you will see a calmness, certainly people are alert, alarmed, but i don't think this panic is represented that's why i think equities moved back higher towards the end of the week when we get back to work and look at the jobs data omicron, it is front and center, it will be the paramount focus this week. >> did we underestimate the fed impact too they can always pull back on the taper and/or rate hikes. >> that's the interesting component. if we do see the fed react to this variant or an additional variant down the road. maybe the balance goes up above $10 trillion so i know when the market saw the renomination of fed chairman powell we saw stocks get hit i think in the wake of the new

variant news the fed has the potential to not raise rates in 2022, that's supporting the marketplace. s&p 500 up already and i think the market moves higher the rest of the year. >> jeff kilburg, a lot of people out there hoping you're right. with that we wrap up today's "worldwide exchange. "squawk box" is next picking up coverage with futures up, oil up, crypto is up as well we'll see you back right after this short break switching wireless carriers is easy with xfinity.

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good morning, the omicron variant spreading, now confirmed in at least a dozen countries, including canada breaking overnight, new travel restrictions in the u.s. and abroad israel and japan announcing a ban on entry for all foreigners. and stocks in asia falling after the black friday selloff in the u.s. but futures pointing to a rebound this morning, up about 240, 250 nice move in the nasdaq. it's monday, november 29, 2021 "squawk box" begins right now.