it is 5:00 here at cnbc. here is your top five @5 stocks bounce amid omicron futures are falling flat this morning. the biden administration looking to up the fight against covid and looking at steps to stem the virus. we are live with the details >> another major american company announcing the decision to delay the return to the office the white house to offer status report on an offer to combat the

crunch with a number of high level ceos sofbank looking for a cash infusion it is wednesday, january 22. you are watching "worldwide exchange" on cnbc. a look at global markets today the global open. after the major averages rallied tuesday following monday's selloff. the dow and s&p up 1.5% and the nasdaq surges. take a look at the small cap benchmark. russell 2000 surging nearly 3% since the last day in latejuly

having a look at oil, bouncing back despite concerns crude is up 71.49 and brent crude also up more than 1% stocking dropping

by nearly 50%. a number of private sector executives to attending meeting including fedex ceo and gap ceo. wells fargo is the latest to delay plans for workers to return to the office amid omicron spread the bank is doing so citing the change in the environment. reportedly says there have been new plans for the full return in the new year according to

results by soft bank adding the apparent deal between the pair highlights soft bank's need for cash and the bid to enter the lending space. soft bank limited the loss led by the crackdown of companies. >> thank you we'll check back with you in the next part of the show. >> to the latest in this country, president biden announcing new steps to fight the rise in case figures including distributing a billion at-home rapid tests. >> joining us now from washington good morning >> good morning. hospitals already stretched thin are staring down a crushing new flow despite the sign looking alarmingly, insisting the

vaccine and we are better prepared for what's ahead. >> with the highly contagious omicron variant driving the new war against covid, president biden rolling out a new battle plan >> we are still in it. this is a critical moment. >> amid the surge in demand and long lines for tests before christmas. the plan to start mailing 500 million free at-home tests he's sending 1,000 military members to support overburdened hospital staff and deploying fema >> we stockpiled enough founds, masks and ventilators to deal with the surge among unvaccinated today we are ready >> acknowledging there will be breakthrough cases from omicron

while stressing protection, vaccines and boosters provide. >> almost everyone who has died from covid-19 the past many months, has been unvaccinated. >> now signs of early pandemic reemerged from sports leagues to mayor's cracking down with new mask mandates and in chicago, a vaccine requirement for indoor spaces insisting this is not march of 2020 >> where we had to lockdown. we have more tools now >> tools we'll need as america braces for the worse of the omicron surge. >> president biden is facing sharp criticism for not acting sooner especially to expand access to testing. the president defended saying omicron is spreading more quickly than anticipated insisting the administration is

ready for testing. >> we'll see how quickly they did ramp up the testing. >> how would you say the public health experts are responding to the plans? >> there has been some response saying this is not been going far enough some saying the public at large doesn't seem prepared to go through another lockdown president biden has made it clear it is not part of the plan of the wide-spread policy. given how quickly this is spreading, there are some saying this would be the right response we don't know how severe those cases will be. they are concerned about the wide-spread feelings that this is milder and it may be too soon to say for sure and we may flatten that mode. >> thank you so much back on wall street, stocks searching for the direction after the worst day in nearly

two weeks. there is been two major shifts that could make days like yesterday feel fewer and farther between. >> joining us, joseph, good to see you. you've been bullish on the stock market and become a bit more cautious suggesting people should be less optimistic from where people go on stocks from here. >> thank you for having me since the april 2020 lows, i've been bullish for two reasons strong technicals in the market and the federal reserve. i've discussed it several times on this network with regard to the fed for example. right after the pandemic in the six weeks following, they did more treasury buying in those six weeks from the nine years combined from 2009 to 2018 then they continued with that

$120 billion in bond purchases and kept rates near zero they've provided the equity and environment. a lot of the averages and stocks will break down. just to be defensive over the near term i think on the fed,

many would say powell was well telegraphed. which sectors do you say these are sectors that haven't done well and helps to keep the average and in my view are a little more defensive sectors. >> we could have a 2018 scenario where the fed doesn't have to raise rates returning to the

dovish stance. i see they are telling me to be defensive. >> is this a trend that continues? >> energy does well over the summer we saw that big surge and that reversion because it was down last year as demand was slower i could see it stabilizing around here i guess the question is whether it can hold >> i would say the semiconductor seems to be holding up the best and that does well >> good to see you, when we come back on "worldwide exchange. european leaders clamping down

on rising case figures we'll get a live report from the region a number of high tech profile comp companies bowing out amid covid returns. a return to the office for workers, what it could mean for commercial real estate as a large number of offices sit empty. more ahead when "worldwide exchange" returns. tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner.

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welcome back, leaders are imposing restrictions. saying working from home will be mandatory over christmas and holidays and bars and clubs will be shut down outdoor gatherings limited to 10 people germany takes more steps. >> we have a divided society one side renouncing restrictions only 10 people are allowed to mingle and at the same time, sporting events will be canceled for the foreseeable future

for the unvaccinated, it is a complete lockdown. that is because the government wants to provide vaccination and that will kick in by february. parliament has to decide on that and that will start the middle of january >> what is your sense whether vaccines will be mandated? >> what percentage of germany's population is vaccinated right now? >> actually, they have quite a low level of vaccination roughly 70% got two jabs right now. that's not a lot of progress that is why scientists here on the ground are calling for

mandatory vaccination. we have a thing called ethic council in germany they are also now saying, the mandatory vaccinations should be the way forward. we have seen protests over the weekend, especially the south of germany and the east where vax anything levels are even lower than 70% what happens next, the parliamentary session and the hope from the new german government that mandatory vaccination could start as soon as february in this country. >> wow, just fascinating to watch. thank you for bringing us to the latest in frankfurt. ahead, one major airline calling on the cdc to slash

quarantine time for the breakthrough covid cases and the argument he's making for that move >> announcer: today's big number, $7.7 billion that's the amount of money lost to crypto scams this year. up 81% over 2020 nurse mariyam sabo knows a moment this pure... ...demands a lotion this pure. new gold bond pure moisture lotion. 24-hour hydration. no parabens, dyes, or fragrances. gold bond. champion your skin.

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live shot there. rainy in new york. three stock stories moving right now. first now is intel the anti-trust regulator a proofing the sale of the namd memory chip to hynix clearing the way for the second largest memory chip maker to approve proposal from all countries for the deal next up is blackberry. boosted for sieker security

demand in an interview, also slamming california for overtaxation. he moved tesla's headquarters to texas after the personal move to the lone star state last year. still ahead, biden administration looking for relief for college loan steps. if you haven't already, follow our podcast. check us out on apple, spotify and other podcast apps we'll be right back. age before beauty? why not both? visibly diminish wrinkled skin in...

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the tuesday turn around losing steam as stocks struggle to hold on to momentum biden administration announcing new steps to try and stop the spread of covid. millions gear up to gather for the holidays the latest on what you need to know amid that rapid rise of covid cases, a number of attendees pulling their plug at the appearance at the world's

largest electronic show case you are watching "worldwide exchange" on cnbc. welcome back i'm seema mody in for brian sullivan where are stocks shaping up. stock futures, we are lower. this after the major averages staged a rally following the monday selloff the dow and s&p up 1.5% while the nasdaq clears about 2.5% yesterday. i want to draw your attention to the small cap benchmark russell 200. that was a big winner for its best day since late july pointing out, yesterday's bump having revisiting the 50-day moving average the area that ended up until

november and only 2% a way from fresh records. also want to look at several stocks that were beat up and making a come back names like coupa and way fair down and up just 8% yesterday to more of the morning's top stories. be bertha coombs. >> waiving the moratorium for student loan payments. administration said it would stick to that deadline is mulling the move amid the surge of omicron cases and potential threat to the recovery spokesperson says the white house will announce whether it

will extend that further later this week. >> a growing number of high-profile companies are scrapping the public appearance at this year's electronic show over covid concerns. the featured keynote has announced his company will not be attending in person joining the likes of meta, tinder and pintrest. amazon also reportedly making a similar move delta ceo is asking the cdc to shorten the quarantine guidelines for breakthrough cases of covid for those who are vaccinated the medical advisor calling for the 10 daytime to be reassessed arguing the guideline was developed at a time effective treatments weren't available arguing that it fully vaccinated

individuals only made to quarantine five days after they start experiencing symptoms. >> suggesting for health care workers, they might shorten the time that those who have been fully vaccinated and boosted could go back to work if they are protected with pte this is something now dated and given more people with boosters that could create less of a distraction. >> that leads to a great question i know a lot of companies are looking at that too. >> it just depends on how long you are contagious astrazeneca and oxford are aiming to develop a version of their vaccine that specifically targets the omicron. also working on variant specific

vaccine. israel has already began a rollout of a fourth vaccine for people over 60, medical individuals and compromised immune systems people who received the third dose four months ago is available to get the shot. chicago requires proof of vaccination at indoor venues new york city continuing its battle with cases. the mayor announcing $100 incentive for booster shots and new testing sites. broadway league announcing no plans to shut down broadway as a whole at this time despite 13 shows being temporarily closed due to cases. >> joining us now, founder and ceo and msnbc fed call

contributor. your thoughts on israel now saying for those above 60 can now get a fourth shot. how far away are we in the u.s. from offering the same thing >> i think israel has been a haefd us for quite a while in terms of vaccination even though this data is not there, they are seeing a rise in cases. they know there is waning immunity from 4 to 6 months after a booster. it does make sense i see it possibly happening here in the u.s. possibly within months >> it really is striking to me, the different responses from countries so far in europe, many countries are implementing some serious lockdowns. germany limiting gatherings to 10 people, portugal and sweden increasing measures. here in the u.s., no major

lockdown has been implemented. i'm curious if that is something you think states assess over time >> i think it is something states strongly consider the u.s. has never even seen true shutdowns we have this variant that is incredibly transmissible it may be something in terms of max policies, capacity restrictions and other types of protections that we may need to implement over the next few weeks as cases continue to rise. i would say especially in unvaccinated areas >> even though this variant suggests that it is less severe and we haven't seen a huge up tick at this point >> at this point, we don't have a lot of data yet. we would need for there to be more cases to see if there would be an increase of hospitalizations and death

it is a lagging indicator. two to four weeks, we'll have that data soon just becauses it mild, it is also incredibly contagious which could cause an increase overall of hospitalizations. >> new york city rolling out $100 incentives to the third shot do you think incentives like this work and should other cities provided same >> i think other cities have shown these help a little bit and then there is a plateau. people will get boosted because of this. i think for others $100 won't make a difference. i do think the public health messaging is important people with the omicron variant, getting boosted is incredibly important as well as getting fully vaccinated that should be the message these incentives may or may not

help >> i believe the fda will approve a treatment of two or al treatment. how could that affect our ability to manage going forward? >> i was hoping that would be part of biden's announcement that they were going to fast track part of these. especially the one from pfizer 90% decrease of hospitalization with this pill has to be given within the first five days of symptoms. incredibly effective another tool in our tool kit so i'm hoping to see both of those authorized more quickly. the pfizer one more than the merck one. with merck, there are safety concerns and it was only modestly recommended by the fda

advisory committee >> that is an important decision to watch for today your thoughts on what president biden talked about yesterday with the idea to ramp up testing in facilities. >> i'm in new york, i've seen the long lines i've been on those and i do think ramping up testing is incredibly important it is not going to happen overnight. it needs to happen quickly testing is important for diagnosing cases and preventing spread i think the vaccination efforts are important as well. i would of liked to have seen more federal guidance around mask policies driven to the states and more emphasis of getting free-high-quality masks out to all americans i would like to see it more aggressive >> always great to have you on

with the latest on the ongoing struggles with covid now to the latest on the democrat's push to try to salvage the nearly $2 trillion build back better plan holding a special caucus meeting on the next steps. after joe manchin states he could not support the bill in current form saying while they may be frustrated, they are not giving up on build back better. president biden is hopeful a bill can be reached. for more on the next step, i'm joined by ed mills good morning so yesterday, president biden said he will work closely to get this done. how quickly and what is the time

line that's at least for the comingmonths that could be more of the february, march time frame at this time.

really, it is up to joe manchin before he makes a decision of what he can vote for and that will clearly drive the timing. >> what is your read on senator joe manchin and why is he so hesitant to sign this bill >> a couple of things. first off, if you look through the statements and the deal he struck with senator schumer earlier this year. he would say he's being very consistent

i'd also go back to march of this year. some things have changed he feels this democrat tried to pull something over him. he's not trying to sign off on everything until ee sees all of the language which will cause a bit of doubt to creep in in terms of what he could say yes to unless he sees everything and he could hear back. >> so most of the conversations we've been having here and the

fact that this bill had been front loaded. because of what they have promoted on the glide path down. i think the market and they were looking at that as a net positive to economic growth over the next couple of years i do think because we've seen economic forecasts cut and we saw a market reaction on monday. that does put pressure on democrats and senator manchin to see what they can do to cut a deal to provide that glide path from here versus having the fiscal cliff that would be set up without release >> the longer it takes to get this bill signed, the impact on

midterms in 2022 >> when i talk to democrats here, they think this is crucial and they know there on the defensive. they feel it would be a foregone conclusion that is a driving force to see if they can salvage something. >> ed, thank you for joining us today. coming up, looking for a return to normal in real estate. the broad implications covid is having on the sector and what to expect in the new year european gas prices continue to hit new highs the pipeline that brings russian gas to germany reduces the flow to russia. temperatures drop across europe further escalating the region's energy prices. credit unions are looking for approval to hold assets like

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the pandemic has affecting nearly every segment of the economy from companies adopting hybrid work schedules to the explosion of online shopping which has created its own issues and an ever growing need for warehouse space. joining us now, senior vp and naret. more companies delay a return, how much more of a negative effect will this have on offices? >> this will korea a delay one of the key areas of commercial that has not recovered fully. the returning offices and delays i would like to point out, many times people are asking the

wrong question it is really the question are people coming back this month or next we keep pushing it back as the pandemic has another wave we need to keep in mind, as offices are still going to need the amount of space on those days everyone is in the office. many are doing a flexible home environment and if they are going to be there on team days and collaboration days, employers will need the amount of space there it will be less dense on other days once we get past the next, i'm not sure how many months, you'll see a continued rebound. >> which sectors are performing better than others

>> i know tourism has picked up in new york city with average hotel occupancy rate at 81%. >> the business and person-to-personal travel. that rebounded quickly you can look at the rates by the weekend. people are staying over saturday night, those hotels are closer to being full. whereas midweek business travelers have been smaller. we are really not back to speed in terms of business travel. >> other parts of the real estate story are working out well that includes industrial and self-storage how did those markets do in

2022 >> they continue to do quite well the logistics sector is supporting the e commerce business they operate parts of the supply chain that gets to the last mile plus other tech related sectors. the cell tower and it has been really interesting is a surge in demand early when everything shifted online but that demand has continued to grow from a high level even as the economy slows up permanent changes in the demand for real estate. there has been a huge housing

boom since the start of the pandemic what do you think this means for self-storage and other types of real estate? >> it has stayed low and will not move up due to the short-end curve. many investors, as related not for the higher term. after that executive price showing those rates are down significantly. so rates are well protected in

the environment. >> thank you for joining us on all things real estate on deck, futures are fighting for gains as the massive rebounds laying out how to navigate the trading day. that's up next if you haven't already, follow our podcast on "worldwide exchange." check us out at apple, stipofy and other apps i'll be right back ...demands a lotion this pure. new gold bond pure moisture lotion. 24-hour hydration. no parabens, dyes, or fragrances. gold bond. champion your skin.

the dow, s&p and nasdaq posting their best day in a few weeks nearly up 3% on the

advance. still recovering more than 4% off the two-week high. expect that gap to narrow in the months ahead i'm joined now on the market good morning thanks for having me >> what is the read on small and midcap stock these stocks tend to be a bit more sensitive i'm curious what your read is. >> small caps have been weighed down by covid. the rate has been increasing all year but we do think investors are overperforming that showed optimists outweighed the pessimists they are re, very, very cheap and tend to outperform the rate

hike you should see it benefit as well >> it is a stressful time for people given where it is hitting. i think people are digesting some of these moves particularly with the selloff is more driven and expect variants to pop off i think a lot of it is the fed

>> could this change in the forecast of next year? >> we'll have to say as i talk with equity investors. a lot of them are skeptical. they are with those things they've seen with the nonpayroll report the jury is still out. >> we are expecting a decision from the fda on two covid pills. could this be a market moving event? >> because of all of the details. it has all been tilting

positive on the margin, could this be something to help? no >> goldman sach with a vision of their estimates. we get a vision today. >> we get a lot of questions whether the build back better ends up happening. we are banks the gdp numbers into our views i'm not sure we'll see a massive recallibration on the build back better i wasn't sure many were baking that in any way. >> thank you for joining us. i appreciate it. all things on the market and of course, the build back better and that $2 trillion spending package. that dow reversing losses. nasdaq lower by 24

three pieces of data today consumer confidence and existing home sales chgede it for us on "worldwi exan." "squawk box" is next switching wireless carriers is easy with xfinity. just lean on our helpful switch squad to help you save with xfinity mobile. they can help break up with your current carrier for you and transfer your info to your new phone. giving you a fast and easy experience that can save you hundreds a year on your wireless bill. visit your nearest xfinity store and see how the switch squad can help you switch and save.

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that's what i always said, right? good morning futures are muted following the dow 500-plus point recovery. elon musk says he's sold enough but the ev maker's boss is doing something else at the same time. and the great rethink and the

changing work force and what life will be like beyond the pandemic if that ever happens. it is december 22, 2021. "squawk box" begins right now. yesterday was a big day for the markets. you saw things higher amid the decline. you've got the dow futures indicated up by 43 up 1.6%. indicated up 1.75% nasdaq down by 23 after being up by 2.4%. we'll see what happens as we get closer to thursday, which is the beginning of the holiday trading