it is 5:00 a.m. in new york. here's your top five at 5:00 will wall street's march higher keep going today after a monday pause. futures are flat right now what one of the biggest banks has to say about the federal reserve's playbook ahead. the search continues in kentucky, and mississippi after the storms this past weekend we are live on the ground with the lawsuittest on the recovery

efforts. hard rock making a $1 billion bet on las vegas. shares of tesla look like they need a bit of a recharge. and apple inching closer to a $3 trillion valuation. why your next guest says the stock's tailwinds are too strong to ignore. it's all happening on this tuesday, december 14th and this is "worldwide exchange." good morning, good afternoon, or good evening and welcome from wherever in the world you may be watching, i'm brian sullivan, thank you for joining us on this tuesday morning. let's get to it and get a check on the markets and your money and how they're setting up the day, futures right now, not giving us a lot of help about which way they want to go. we are down just a touch

at this hour the volume of futures trading very thin. one trade can change the direction of where we go not worthless but they don't give you a lot of help the markets could not hold on to gains yesterday, remember we were higher this time yesterday and then the markets fell. although they fell -- they still held up pretty well overall considering all the omicron headlines, uk prime minister boris johnson kind of freaking everybody out with his comments about the latest strain, and keep in mind the dow and s&p 500, despiteyesterday are stil higher this month. the nasdaq is down a touch, but context and a broader picture is key. those indexes are still higher coming into yesterday morning. which way we go the next few days, you have to stay tuned to find out let's check oil which also fell on monday as well. oil is moving a little bit higher, some optimism -- see, i stand corrected.

basically everything i say, i'm like george castanza crypto was mildly higher about ten minutes ago, even though down below 48000 -- so that's actually still happening bitcoin is up a few tenths right now, but still again below 48,000 ethereum is below 4,000 as well. the major coins well below where they were just about one month ago. let's find out what's happening in europe with their trade and their headlines. karen tso is in our london news room with the early trade and what is looking like a tie-up tuesday. karen, it looks like from your big wall there, it's about the same as us hard to figure out exactly any kind of trend right now. >> brian, it'ses not you, it's the market we keep doing a u-turn on the trades today so it's very skittish sentiment we're seeing

we started out the day strong across the markets, bounced on the ftse and the cac to the dax. and the ibex was traveling up. but as the u.s. futures have soured, the market is now pulling yesterday's script and effectively doing a u-turn, we looked like we would snap four straight days of losses, that's not the case now as we start to wobble but it's such a huge risk on event with central banks not just the fed by the bank of england and ecb, and the news around omicron is not that positive right now so markets giving back territory. seeing a wobble around the auto sector, that's been one of the weaker parts of the market this morning. media travel and lesure, technology, household goods. just about every sector was trading positive at the start, that's a switch. basic resources was up about

1.1% now up about.6%. shares in rentakill are soaring after they struck a deal to buy terminix global. it values the terminix shares at a 47% premium to monday's closing price. not the sexiest industry as we talk about pest control. >> but if you're making money like we've talked about, boring might be the new sexy when it comes to equities next year. let's hit the corporate headlines for the u.s., including a food scandal for starbucks in china for more here's silvana. good morning. >> good morning. toyota is stepping up the commitment to battery electric vehicles saying they'll have 30

ev models by 2030, up from 15 models by the year 2025. the company adding that 100% of its luxury lexus brand would be electrified by 2035. and to help, toyota is investing $17.6 billion into new battery tech amazon is reportedly reconsidering plans to bring back the warehouse employee cell phone ban amid the new covid strain and tornados this past weekend. for years they prohibited staff from having their cell phones on floors, a rule that's been temporarily relaxed since the start of the pandemic. it's also joining osha in investigating the tragedy at the illinois warehouse as they investigate conditions in the leadup to its collapse and starbucks is ordering a full inspection of every branch

in china after undercover reporters learned two locations were using expired ingredients in food items. the company said it has a zero tolerance policy on food safety after state backed beijing news released video after it showed staffers removing expired stickers and replacing them with a later date some pretty bad stuff there, brian. >> yeah, certainly is. starbucks in china, see if that moves the stocks i doubt it will move the stock we'll find out we'll sea you in a few minutes thank you very much. >> you got it. back to your money, and it's a big day today for the federal reserve as they kick off their final meeting of the year. could the fed actually begin to raise rates as early as tomorrow speaking with cnbc yesterday, morgan stanley ceo james gorman

says he is in the camp of those who think the fed should raise rates soon >> rates will rise with absolute certainty. and i think it will happen, as i'm sure we're going to talk about sooner than most people do, i felt that for a long time. with that will come more pressure on the economy, more pressure on growth, on credit, and therefore more pressure on equities that's a given but that kind of readjustment back to a more normal environment, not necessarily a bad thing. a small correction here is not necessarily a bad thing. >> so for more on the fed and the markets, let's welcome in steven whiting, chief investment officer at citi global wealth, also out with their 2020 playbook, which kept me company last night good to have you on the program. before we get to the outlook for next year, that will include the federal reserve. >> good morning. >> good morning. do you think the fed will raise rates, maybe not tomorrow but at

one of its first meetings in the new year >> i think they have to get through with easing first. it's not an easy thing for the federal reserve to change its policy from month-to-month to announce the pace at which they would wind down asset purchases and then change it one month later. so i think they have to get through with that, that's going to take us into the new year lots of people can be upset about the pace of everything there are lots of things to be unsatisfied with and we will see rate hikes certainly the most important thing is that we are not going to treat any new weakness in the economy with monetary easing we'll see rate hikes in the coming year but we're not going to see it as rapidly as the latest comments might suggest. >> all right so let's look at our playbook for next year, which probably will include rate hikes to your point maybe not tomorrow but down the line. you write, the assets that perform best over the next year and beyond are unlikely to be

those that rebounded the most strongly in 2021 so what do you see working well asset classes, stock wise, whatever, next year, steven? >> just what we just mentioned, the environment for monitoring fiscal policy, the speed at which the economy is changing. and when we've had peak cyclical momentum, the sharpest recovery in the economy, and that's past, the year ahead, history has been up but it's been led and led by defensive not cyclical industries our biggest weakness is health care shares, staples beaten down by high commodity prices like you said earlier, boring. th these types of companies can give you a positive return well in excess of where we are in yield, but it won't be the same environment where you had many

companies that had triple digit returns solely because they were in the abyss of covid and rebounding now beneath the surface there are secular growth industries, you mentioned some earlier, the largest u.s. tech firms grew their revenue by 20 percentage points over the last 18 years. so if you're thinking about any day now that this will stop, we don't think it will stop now we don't want to be concentrated in the riskiest of tech companies but if you think about the highest quality, industry-leading companies, particularly those that pay a growing dividend, we could probably even get up to a possible low double digit return on the best of those firms >> is that because, steven, that bonds -- i saw your projections, bonds again they could have a negative return next year. it's incredible. >> they will unfortunately this is an environment for the highest quality bond holding for those

bonds, where compared to a decade ago where the inflation rate was slower we're down two percentage points in yield into a higher trend inflation we don't think the inflation rate is going to look like 2020, and i think, you know, 2020 or 2021 this environment we had of uph upheaval so there's a lot that's going to change there's no rate the federal reserve could have given us that would have given us growth and stable prices in a period we had supply disruptions and fiscal stimulus both of those things we think will go away particularly fiscal stimulus >> steven whiting with the outlook for 2022 thank you very much, happy holidays, happy new year see you soon when we come back, the elon musk stock selling spree as he unloads another $900 million

worth of his stock. plus rolling the dice on vegas, the $1 billion bet on the vegas strip. why the recent drop in bitcoin could actually be a little good news for some crypto investors. let's check with the top laggards, a little weakness coming off yesterday, some omicron concerns maybe tax selling ahead of the new year as well we're back with "worldwide exchange" right after this

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welcome back time for your big money movers, three key stock stories of the day let's go stock number one, the same day he was named time magazine's person of the year, a new filing showed elon musk sold another 934,000 shares of his company valued at $906 million also exercising options to buy 2.6 million shares musk still has millions of stock options he needs to exercise by august of next year. the latest share sale comes as tesla's market cap closed $1 trillion. yesterday the stock is now down more than 20% from its most recent 52-week high. the beijing crackdown strikes ago this time at social media platform weibo, that's stock two, that stock sinking % in hong kong after the cyber

space administration said the company violated content laws. checking out the top laggards in the nasdaq hard rock international agreeing to buy the mirage on the strip for $1.1 billion hard rock which is owned by the seminole tribe of florida has plans to build a giant guitar shaped hotel in its place. on deck, we are going to take you to mayfield, kentucky where recovery efforts from this weekend's storms are just beginning and families are just beginning to realize how hard 'rba rhtft ts.a was truly hit. wee ckig aerhi

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the only thing a disaster can't destroy is hope. ♪♪ donate now at redcross.org welcome back let's check this morning's other key headlines happening on this tuesday. phillip mena is in new york with those and more good morning, phillip. >> brian, good morning the committee investigating the january 6th insurrection has voted unanimously to recommend holding former trump chief of staff mark meadows in contempt of congress. meadows has refused to testify citing executive prif lvilege before reversing course he did hand over thousands of documents. the house panel says they want to ask him questions about that information. members read aloud text messages

meadows received during the insurrection nbc news did reach out to fox news for comment but we have not heard back meadows spoke with sean hannity last night and pushed back against the contempt recommendation the recommendation will now go to the full house for a vote, which could be held as soon as today. hundreds of larry nassar's sexual abuse survivors have now reached an agreement with the united states gymnast association. nassar is serving up to 175 years in prison. and kim kardashian has finally passed the california baby bar exam, she announced after three tries and two years of studying, she aced it she encouraged fans to keep striving towards their goals, don't ever give up, even when you're holding on by a thread you can do it.

impressive there, passing that exam, brian. >> it is even the baby bar exam is no easy fete as well. bar courses and books about like this or online courses are all the rage it's not easy. congrats to her. >> you got it. let's move to a very serious story. a total of 88 people are now confirmed dead in the wake of this weekend's tornados that tore through six states leaving thousands homeless and doing billions of dollars in damage. the rescue and recovery efforts this morning are still continuing but they are still in the early stages jay gray joining us from mayfield, kentucky, the community that was right in the path of the storm. we saw the early scenes yesterday, jay, we can see them behind you now this looks like a devastating scene for days and weeks and maybe months to come >> reporter: yeah, no brian, i think you're absolutely right. good morning what you're seeing right now is the undercarriage of a transport

van. this massive vehicle tossed on its side by the winds that also uprooted a row of trees in this neighborhood they've fallen and they're on top of houses, a little dark, you can't see all of that right now. this type of devastation, it's seemingly everywhere here. overnight crews repair and restore what they can, an event that continues around the clock across six states, in some areas, heavy equipment pulling away huge chunks of debris in others, the process is slower more deliberate. teams at times working by hand >> searches and peeling and delayering this particular structure. >> reporter: the search is now over at this mayfield candle factory where at least four employees tell nbc news supervisors warned they'd be fired if they left as sirens sounded ahead of the storm

y officials with mayfield consumer products calling the allegations absolutely untrue. we're also now learning more about the heroes that emerged during the chaos. >> i was like is everything okay, she said no everything is destroyed. gauge evans mom, step dad and six siblings trapped as the home fell on top of them. the 13-year-old on a many igs to help. >> he was on a mission to save the family. >> reporter: and he did, pulling them to safety and leading to a nearby storm shelter. >> i said i was going to get them, nothing was going to stop them. >> reporter: a determination gauge's family and so many survivors will need during a long and difficult recovery. look, that recovery work, it can't really start in ernest until the search through so many areas ravaged like this one, brian, is over and that, as you alluded to earlier, is going to

take some time it's a mess to get through, it's going to take some time. >> yes, it will. jay, what more can you tell us about the effort to find those that are still missing across the region i know it's tough with every day that goes on, it gets a little tougher, but there's still some hope, is there not >> yeah, no, there absolutely is and that's what's driving the teams on the ground here they've been working around the clock, and a lot of those who were here right from the beginning obviously just spent they've been going through areas like this that are just overwhelmed with debris. so they've got others coming in and they're bringing in more k-9 as well so that should help to speed up the effort. again, it's something with the magnitude of what's happened here, it's going to be difficult, at times very slow, meticulous working through this debris. >> jay gray on the ground in mayfield, kentucky jay, thank you very much

a tough story there. ahead, is it a matter of when, not if, we are talking about apple hitting a $3 trillion market cap jeffrey laying outhe t bull case for the stock ahead. stick around

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stocks, they are flat to down ahead of the fed within could we see a rate hike as early as tomorrow? david katz laying out stocks to buy now whatever the fed does.

the world's first $3 trillion company, why one of apple's top analyst still laying out the bull case. your morning rbi and some good news around relief at the gas pump it is tuesday, december 14th, and this is "worldwide exchange." >> welcome or welcome back, everybody, good tuesday morning. just about 5:30 on a tuesday, grab a cup of coffee, thanks for joining us here's how the markets and setting up their day futures are down right now, this off declines on a monday, seeing a little bit of weakness here, dow futures down 58 points don't make too much of that, it is a fed week so you're not going to get a lot of movement yesterday and today. keep in mind even with red on the screen lately, the dow and the s&p 500 are still higher

this month and remember last week, the s&p had its best week since february and second best week of the year a little bit of weakness yesterday and today but overall a good run nasdaq weaker than that, speaking of the nasdaq, it's been the weakest index in the premarket. you have chinese technology companies amid the laggards right now. the government there continues to beat these companies into the ground these stocks have been hit hard, a lot of regulatory concerns what is xi jingping going to do, come in and take over the companies at some point in pinduoduo one of the worst stocks in the last couple of months and the meme stocks got bludgeoned on monday, amc and g g gamestop down in the market. amc has lost 55% of the value in

the last 90 days ouch let's get more of this morning's top stories, including congress trying to avoid default on the u.s. debt s silvana is back with that and more. >> reporter: the senate is expect today vote on the deal to lift the debt ceiling. chuck schumer setting that deal ahead of the projected deadline tomorrow schumer did not elaborate how much the bill to increase the limit would be that legislation will require a simple majority to pass the senate, sending it to the house where leaders have promised quick action to pass the plan. morgan stanley's ceo said he was wrong in his push to get employees back to office by now. in june he told conference attendees he would be, quote, very disappointed if his workers haven't returned to buildings by labor day. yesterday he offered a new outlook on when workers may actually return.

>> we're in a transition period still. i was wrong on this. i thought we would have been out of it by labor day, we're not. and i think we'll still be in it through most of next year. everybody is still finding your way, and then you get the omicron variant, who knows we'll have pie, we'll have theta, we'll eventually run out of letters in the greek alphabet, god willing, but it's continuing to be an issue. i pray and hope everybody gets vaccinated and gets a booster shot, that's our defense. and andrewpple is facing a e whether it retaliated against the whistle-blower the allegation is centered around a former employee who was fired in september for allegedly leaking confidential information. she had complained online about ongoing harassment and unsafe workering conditions at apple. the company says it's committed

to maintaining a positive and inclusive work place a story i'm sure we'll continue to follow. >> silvana, thank you very much. investigations notwithstanding, the other headline for apple is, of course, the stock and how it is dollars per share away from being the first company ever with a market cap of $3 trillion. the key number to watch, $182.86. it hits that number, it's a $3 trillion company. joining us now is jared weissfield, he's managing director and technology sector specialist matter of time, apple will be, maybe by the end of this year, a $3 trillion company, will it not? >> we were so close yesterday, right. we were dollars away of hitting that magical $3 trillion mark everyone is looking forward to it's remarkable in terms of how fast they're growing their revenue.

last quarter they grew revenues north of 30% year on year. and that's with $6 billion of supply constraints in the system i'm sure we've all seen the semiconductor supply shortages that are ongoing despite that, they're growing revenues 30% per year and their noniphone categories are growin so quickly they're executing incredibly well and they have an amazing product line up headed into 2022, but that's been propelling shares closer to that $3 trillion mark >> does it matter -- we're in the news business we love the big round numbers as you know i'll take the knock on my industry, big, red, flashy screen, but should it matter to investors other than the fact it's another leg higher in what has been one of the world's greatest money making machines of the last ever >> it's just a milestone more

than anything else it should be part of the investment process i don't think so this is something not idiosyncratic to apple look at all of large cap tech when you look at m-faang, those numbers are approaching as a cat gour -- category almost 30% of the s&p when you look across the board you're not seeing that much volatility at the index level because the large cap companies are so large as a percentage of the index we're talking trillions of market cap. it's an amazing statistic if if we cross the threshold but it's more of a milestone than anything else from an investment standpoint. >> what's the biggest risk we talk about the tailwinds, great iphone 13 demand, i get it once you're in the ecosystem and your phones and music are on

icloud, they're not moving so they have the recurring customer base. are there risks to apple >> of course, like any investment there are always risks. i say the top couple of risks are probably twofolds from an apple perspective. you're banking on the success of the next generation. think about iphone 14 into next year to the extent that's not as successful that's a risk but the company has showed an ability to migrate and upgrade and you have the iphone se 3 in the first half of the year you have new product introduction as well the second risk that's worth flagging is everything that's going on within the services ecosystem. services are 20% of revenues, they've been in an ongoing legal battle with epic and other companies that complain at the per scentage of the take rate

apple is charging. about 30 cents of every dollar goes to apple so is there a risk that high profit services stream can see an ongoing take rate reduction. that's possible. google announced they're going to cut that revenue stream from 30% to 15% that's another potential risk when you think about the high revenue stream. >> i'm sure we'll have our apple $3 trillion caps at cnbc here at the ready. looks like another good year for apple. jared, thanks. >> thanks, brian. let's move to crypto, which has been an amazing money making machine the last few years the coins are higher right now but still having a tough month bitcoin below 48,000 but again context is key if you've been a longer-term crypto investor, i mean a few months or maybe a few years by that, this move lower could be

good news, at least when it comes to tax time. robert frank is here with exactly why. robert >> good morning, brian crypto holders have until the end of the month to take advantage of a special tax loophole, under current law, crypto holders are exempt from the wash rule. that rule requires investors to wait 30 days before buying back a security they sell for tax losses so if you bought bitcoin at 65,000 and you sell this week for under 48,000 you can use that $17,000 loss to offset any gains, and then you can immediately buy back bitcoin at, let's say 47 or $48,000 to stay in the market. with crypto markets losing over $700 billion in market cap in recent weeks those losses could be lucrative to offset other crypto or nft or stock market gains. all of this is likely to change next year because the democrats'

build back better plan includes a rule that eliminates the wash rule exemption for crypto. it's recommended to sell with the biggest losses or the highest cost bases before january 1st, especially if you want to jump into the market and stay in bitcoin after those sales. also, starting january 1st, crypto platforms like coin base and gemini, they'll be required to report to the irs so if you think you can get away with what you sold or bought something, that will end january 1st because all these platforms will have mandatory reporting to the irs. >> a lot of these platforms are so new, how long is it going to take to get your 1099? is it going to be mid april? i have to imagine they have to staff up to just get out the

data >> yeah, it is incredible to me that we're already at the end of 2021, and coin base, gemini all the big platforms they do not provide their clients 1099 you think about how much of these traders go in and out of these crypto coins, shift from one platform to another, buy and sell, how is any customer supposed to figure out for themselves, what their cost bases were, what they sold, what taxes they owe without the company's help it's just impossible that's why i think the irs thinks there's so much unpaid taxes in crypto. part of it is because customers just can't figure it out >> yeah. and they've got that question now, i've done my own taxes for 20 years, do you or did anyone in your family own crypto at any time this year, yes or no? when you click yes, it's going to be very interesting to see what happens

and that time frame to get that done, there's going to be a lot of -- i predict, robert, a lot of frustrated, shall we say, people robert frank, thank you very much >> think about that, folks you want to get your taxes in and you're waiting on that 1099. coming up, even asd delta i hitting the cold weather states, there's optimism about omicron and the finding of boosters keepinyog u safe dow futures are down just a touch. e we're back right after this. ...and dry, cracked skin. new gold bond advanced healing ointment. restore healthy skin, with no sticky feeling. gold bond. champion your skin.

welcome or welcome back. now let's get the latest on covid. and there is a little bit of good news to report. this morning a new real world study in south africa shows that two doses of the pfizer covid vaccine has given 70% protection against hospitalization. this is an important data set as that country deals with the omicron variant. they discovered and brought to the world. so again, 70% effectiveness against hospitalization. that is only down slightly from hospitalization rates in the previous covid strains very good news now this, the uk reports, a death from omicron, the uk health minister also saying the region is seeing omicron cases doubling every few days but this is key, right now there's been one, one fatality from omicron

let's hope that stays low. in the meantime in china officials there reporting their first case of omicron. here in the mainland, u.s., california imposing a month-long mask mandate for indoor public spaces regardless of your vaccination status tomorrow to slow the up tick in covid cases. joining us is dr. vin gupta, a faculty member at the university school of medicine and an msnbc contributor. thank you very much. here's the thing, i understand we're talking about omicron in the media a lot, i get it. it's whatever it is. delta is still the threat, right? it's still ravaging parts of the cold weather states in the northeast or upper midwest i feel like we've lost the plot there. >> thank you for having me you're correct we're forecasting here at the university of washington, for

everybody watching, business leaders across the country, 10,000 weekly deaths week over week, overwhelmingly among the unvaccinated because of the delta variant. truth is, omicron if you were to be exposed to it and you're unvaccinated we know it's as lethal if not slightly more to the unvaccinated because that virus builds up in your body, more in your body, more likely you are to see me in a hospital setting i'm glad you pointed out the headlines about keeping folks who are vaccinated out of the hospital even if you're exposed to this variant. we have lost the plot here, you're right it's no longer appropriate to look at daily case rates, looking at hospitalizations is going to be key, especially amongst those that are fully vaccinated because what we know is that the vaccines against a contagious respiratory virus, those vaccines are holding up against the thing they should be holding

up against, which is keeping folks out of the hospital. that's why we vaccinate against flu, and now covid not to keep cases, but to keep you out of the hospital. >> not saying you have to look at my twitter feed if you do you see i talk to folks like yourself and putting it out there and taking heat for it people are going to think i put you on because we share that view but nobody cares what i think, you are the doctor case counts when we get into the endemic stage we don't talk about daily case counts of pneumonia or the flu, this is far more serious but it's the obsession with case numbers. i just don't want to die from it, be hospitalized or have long covid or severe outcomes some of the points we're seeing, it's early on omicron vaccines, it's decent, are they not? >> absolutely. they're reassuring unfortunately a lot of -- not

cnbc, not nbc family, but other media headlines like to put out there that the vaccines are less effective than they are. when it comes to the thing that matters, which is keeping folks out of the hospital. i hate to say this to all the viewer out there, but you're not going to necessarily be invincible from a positive test for mild symptoms. we are exposed, brian, to a host of respiratory viruses every given cold and flu season because maybe at worst it causes sore throats or sniffles that's what covid is going to be that's what the threat is going to look like, it's going to be a nuisance for those double, triple vaccinated. it's also important that the cdc, fda they need to update the definition of fully vaccinated because businesses across the country develop protocols and procedures for their staff,

workforce, depending on what the cdc says is fully vaxxed if we're pushing the booster because we need three shots to stay out of the hospital, let's call it such so businesses can plan here, that's the key gap. >> and that is dr. gupta i know we have to go but i have to ask you quickly, from hospitalization rates, the point is hospitalizations are the key, but do we need to change the definition of a covid admission? we had a doctor on yesterday saying, and my friend is an er doctor in my town, half the people coming in for covid are coming in with panic attack gs because they get the sniffles and they're terrified they're going to die of covid and they have to talk them down in the er i'm not joking. >> i do think "the new york times" presenting case counts we need to move away from that, to how many people are having covid

breakthrough disease requiring hospitalization, in addition to how many deaths and hospitalizations are happening against the unvaccinated those are meaningful data points, everything else is just noise and it's going to distract us. >> thank you, dr. gupta, i know it's super late there. shout out to your county, i'm going to show my viewers what i look at. i'm holding up the king county website. people not vaccinated are seven times more likely to test positive, 30 times more hospitalized king county does a great job dr. gupta you're doing a great job, thank you very much for bringing that to us as well. chgerit tedwe ack on "worlid exan" ghafr this

time now for your morning rbi. today's most random thing is on something you don't find random

at all, and that's gasoline prices, because there is some good news to report. mostly according to gas buddy, gasoline prices are starting to come down just a little bit, and more than just a bit in some places. in the gulf coast, texas, louisiana, the average is back to below $3 a gallon for regular unled. other regions are in the low $3 range as well. overall, nationwide prices are down about 12 cents per gallon, which may not sound a lot but he says it saves americans $48 million per day in gasoline costs. nearly 50 million bucks a day, because the price moved a little more than a dime this is why gasoline prices are also a political third rail. they matter, a lot so prices coming down is a political win. but here's the not so good news. takes a few weeks for any move in the price of oil to be felt

at the pump. so while prices may come down a little bit in the next few days, oil's move higher last week means prices will likely not go down and may go up in the weeks ahead. so bottom line is this, fill your gas tank up now, because you will thank us later, as long as oil keeps moving in its higher re-direction. random but interesting. back to the markets, another tough day. investors bracing for fresh inflation data welcome in david katz of matrix asset advisers we're down yesterday off the amazing week do you have a crystal ball for the markets? they keep going higher >> we do we're cautiously optimistic but expect a lot of volatility since september you had two five% corrections and then rebounds we're expecting that type of activity next year we think there's a change of leadership

some of the things that have done great this year are going to slow down and some sectors and industries that have been dogs we expect them to do a whole lot better. >> yeah and, of course, we're going to start with one of your stock picks, david i'll be clear, it's a homer for our industry, we're own by comcast, it's our parent company, it's the only stock i and others are allowed to own. i'm happy. we didn't ask you to say it but you think comcast is a good bet next year. >> it's a great example. the stock has underperformed significantly this year, business is good, earnings are up significantly this year, they'll be in the mid teens this year and the year after. and still sells at 13, 13.5 earnings we think this is a great opportunity over the next 18 months in a market that's pretty richly priced. >> yeah. and you obviously don't feel that comcast is richly priced?

the value wvaluation, our paren company, is fair >> it's significantly undervalued and we think there are opportunities like that, the market of haves or have notes, and comcast is one of the have notes and that's one of the best places to make money also viacom sells at under 8 times earnings we think they're going to be a winner in streaming it pays a 3% yield. those are the type of companies we think are the best places to make money next year we're wary of the highly priced growth stocks. anything above 50 times earning sets off a red flag for us >> another name you like quickly is m&t bank, why a bank that doesn't get a lot of love or attention. >> it's done okay this year. they're about to close an acquisition, when they do that, the stock is going to be freed up to do better, raised the

dividend to 12%. we think higher rates are a certainty in the upcoming year very good loan portfolio financials are one of the few groups that did well in 2021 and we're expecting a repeat in 2022 >> m&t bank, viaviacom, comcast three picks headed into 2022 appreciate your views. have a great day, talk to you soon, david. >> have a great one. thank you. folks it goes so quickly, doesn't it we'll be back here tomorrow on "worldwide exchange," same b time, same bat channel "squawk box" and the gang picking up the coverage next have a great day, see you tomorrow the only thing a disaster can't destroy is hope. ♪♪ donate now at redcross.org nurse mariyam sabo knows a moment this pure...

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stock futures slightly lower the fed kicks off a key policy meeting. now one ceo of a major bank is urging jay powell to move faster on interest rates. hard rock making a billion dollar bet on the las vegas strip, buying the iconic mirage casino no word on whether they're going to buy the spangler. details straight ahead. and elon musk making more big stock moves. the tesla ceo just exercised options to buy 2 million tesla shares, i would do this if i could, at just over $6 apiece. it's tuesday, december 14th, 2021, and "squawk box" begins right now. good morning, everybody. welcome to "squawk box" here on cnbc i'm becky quick