it is 5:00 a.m. at cnbc global headquarters here's your top five at 5:00 wall street waking up to a rate shock ahead of twin testimonies this week from two key federal reserve officials. china is locking down again. this time in a key port city, just outside beijing, as covid continues to keep a choke hold on the global supply chain also this morning, high-stakes talks in geneva as the u.s. tries to de-escalate

the situation at the ukraine border. plus catering to the high worth buyer, an interview with the ceo of rolls-royce coming up. and elon musk jacking up the price for the full self-driving experience for tesla it's monday, january 10, 2022, and you're watching "worldwide exchange" here on cnbc good morning, and welcome. i am dominic chu in for brian sullivan today kicking off your monday morning with u.s. stock futures generally positive-ish you can see right now the s&p 500 is -- well, now it's slightly negative. the s&p implied lower by about 1 point. the dow jones down by 1 point and the nasdaq lower by roughly 11 so just about flat vacillating between gains and

lossesweek since february. this is about rates as the ten year hits the highest level in two years. the ten year note yield lovering below 1.8% the two-year about 88 bases points or .88% this is all ahead of two key congressional testimonies with jay powell brainard. a rough week for precious metals as well, gold and silver the worst week since december. gold down about .2 and silver down about .3% cryptocurrency side, you can see a little bit of movement in bitcoin, still down about 1% ether down about 1.75% the overnight action in asia

with japan closed if for a holiday, you can kind of see, generally speaking, on the green side of things the shanghai composite overall, about .5% gains there. so keep an eye on the asian markets and then we'll spin that globe around to the early trade on the european side of things like us here in the u.s., flat to slightly lower at this stage here you can see the german dax off about .25% northern ireland fat see 100 down, and the cac down about .25% as well the current covid wave driven by the omicron variant has likely peaked in parts of the u.s. this is according to dr. scott gottlieb who said quote some east coast cities are probably peaking right now. he added other parts of the country where omicron hasn't been as prevalent yet still have

a couple of weeks to go. researchers have reportedly claimed to discover a strain of the coronavirus that combines the omicron and delta say theys of the delta-cron strain the team said it's too early to see if there are more cases of the strain and senator joe manchin has apparently pulled his $1.8 trillion spending offer for president biden's build back better package manchin tell also signalled he't interested in approving any legislation like the current iteration of that build back better plan. back to the markets digesting the latest jobs report from friday and looking to tomorrow's key inflation data.

the ten year also very much in focus as yields have been increasing throughout the course of the start of the year joining us is ben emmons from medley global advisers, who is laying out wall street's good, bad and ugly themes to kickoff 2022 i feel very clint eastwood-esque right now. kick us off with the what's coming this year >> the idea of good, bad and ugly, there's a dynamic in the market that every time a yield goes up, technology goes down in anticipation of fed tightening responding to the high inflation which comes out tomorrow, probably higher 7% or higher for the headline inflation so the market is preparing for tighter environment. but i will say, though, dom, although that can lead to choppiness in equity markets the recent examples of 2017, '18

or 2014, 2015, shows that it can exist with rising rates because the inflation will start to moderate i say inflation responds to higher interest rates this year. >> ben, is it possible for investors to be constructive on the u.s. markets in the face of what a lot of folks are anticipating to be multiple rate increases? i believe i was reading a note by goldman sachs, they're looking for four rate increaset that tightening is going to happen >> try to take comfort in inflation is much higher than 2015 when we left off with rates. but yes, you could actually be somewhat constructive in u.s. equities for that reason those rate hikes, say four if that's the case,flation downg and real income, right. so i think the backdrop when the

economy is still strong, as we saw on friday, payroll was actually full employment so i think for that reason you can be -- remain positive on equities, on the other hand there's also a lot of global opportunities against the rate hikes we see in the united states coming through. i think, for example, the emerging markets may be very different this time than previously markets to perform better because of already having seen tightening there. so constructive in u.s. equities but also emerging markets. >> you mention the emerging markets. we know diversification is key but what's the real, real outperformer is it the em trade >> i would call it one of the outperformers. if you look at the united states, the small caps have interestingly shown resilience the last couple of weeks as we're starting to digest the rate hike scenario i think that's the other

compelling trade and you do stay somewhat defensive in the environment always been on the more te materials, energy, so combined, a good idea going into the first quarter, digesting a higher interest rate by the end of the quarter. >> thank you very much, ben. we appreciate it >> thank you when we come back on the show, big week for bio tech as companies continue to grapple with an ever evolving covid-19 virus. what investors should expect at the annual j.p. morgan health care conference which kicksoffe the struggling live arts industry which is facing new cancellations in the wake of the covid omicron variant, but many small businesses say they were mistakenly denied aid.

a cnbc investigation is coming up. and new lockdowns in china at a key port city just outside beijing. we're live with a lot on an already strained supply chain. a busy hour on "worldwide exchange" when we return after this break feel stuck with your finances? move your money to sofi and feel what it's like to get your money right. ♪ ♪

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to concerns about the omicron variant for covid. biotech will be a central theme of the conference. that sector has underperformed the broader market the past year the i shares biotech ticker is now down more than 11% you can see there. let's discuss what's ahead in the new year with laura chicco from web bush. thank you for joining us this morning. let's talk about whether bio pharma, biotech pharmaceuticals will be something other than about covid-19 in 2022. >> thanks, dominic, for having me i think it's a great question in your introductory remarks you mention this is often a busy week of the year, a lot of anticipation of news flow. i think there's room for optimism for 2022 as a whole you know, the mbi is down about 14% from the highs in august, but there's a couple of drivers behind that. i think you can look at items such as i.p.o. issuance,

declining m&a activity, declining catalyst activity. as we look ahead to 2022, i think at least on the catalyst activity front we are projecting to see a return readouts which i think bodes well for the sector. >> many of us are not biotech specialists when it comes to investing. these days etfs made it easy to buy baskets. like syou saw in the charts. you're a specialist, is therout anticipated? >> there's a couple of therapeutics outside the covid realm that are exciting. a couple of names that we're most excited about are caruna

and zenom. as we step back and think what drivers will be important for bio stocks in 2022, those names with strong catalyst lineups are going to fare the best. >> we often talk about the pipelines for many of these companies, early stage ones for better or worse, some investors view it as binary, you get one drug that makes it or doesn't make it, there goes the company. is there any place in particular that you feel as though there's a line of experimental medication or treatment that seems to be more promising than others, is it oncology versus covid-19 is it orphan drugs is it something else >> that's a good question. i think oncology always dominates a good portion of the biotech space. there's reason for opt micimismn

the neurology space. i think we're seeing some signs of hope here for advancing drugs more rapidly as well >> so the important week laura, thank you have a great day. >> thank you. cnbc will have coverage all day from the conference virtual as it is and big interviews as well coming up on "squawk box," moderna's ceo, just after 7:00 a.m. eastern time coming up and then pfizer's ceo just after 8:00 a.m. eastern time and later on squawk on the street an exclusive interview withead chairman a very big day from the j.p. morgan vealth velopment in the c djokovic australia saga.

plus the global ev race and how one luxury auto maker is catering to a specific clientele. and later on, the loss of an entertainment icon "worldwide exchange" is back after this (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything.

welcome back i'm frances rivera with your news update. we begin with breaking overnight, mourning the death of

america's dad bob saget. he passed away in orlando yesterday. the circumstances surrounding his death are unknown. generations grew up with saget, he started hosting america's funniest home videos in 1989, played the beloved dad, danny tanner in full house, was a stand up comedian. his cast mates were shocked. john stamos tweeted i am broken, gutted and candace wrote my heart is broken i have no words. novac djokovic is staying in australia for now after a successful appeal of his visa being cancelled. a federal judge ordered his passport be returnedt novac

djokovic was present with his lawyers. court documents confirm that he was unvaccinated and his lawyers argued a positive covid test last month led to the organizing group, tennis australia, giving him a medical exemption. overnight chicago leaders announcethat public school classes will be cancelled for a fourth dayfials rejected the union's request to go back to remote learning. now to the nfl and a high stakes show down in las vegas on a final sunday in the regular season herbert, firing and it's going to be caught in the end zone by mike williams. >> the chargers scored twice in the final minutes to force overtime and potentially save their season after trading field goals, las vegas gambled on one final drive

and daniel carlson's boot sent them to the playoffs the raiders earn the win 35-32 baseball history on the horizon. rachel balkovec will manage the low a team for the yankees that makes her the first female skipper affiliated with the team the 34-year-old will lead the tampa tarpins. those are your headlines >> thank you for those headlines. the live events and arts industries is facing new closures, postponements and cancellations in the wake of the ongoing omicron variant spike. the industry was the first to shutter doors in the official covid outbreak and is still struggling to stay open. a small business administration program has given out $13 billion in grants to help bridge the gap but many say the program is riddled with inconsistencies and did not help

enough indicate rogers has more in a cnbc investigation. >> reporter: when amanda heard about the program, she thought it might provide a much needed salvation for her community th needed. >> reporter: kennedy is treasure of the studio theatre in little rock, arkansas the nonprofit closed its doors like so many at the onset of the pandemic. >> we got our application in. >> reporter: for more than three months she heard nothing and then came a denial. >> i didn't see that coming at all. we practically had the funds expended ir minds, in our budgets because it was pretty much a sure thing that it was coming. >> reporter: the sba told kennedy the theatre was denied because it doesn't pay performers but as a nonprofit that shouldn't have made the theatre ineligible yet the arjen a community theatre received nearly $150,000

in grants. and the royal players, 30mans away in benton, arkansas got more than $116,000 both are nearly identical in business models according to kennedy. mike runs super van live a concert and events promotion business selling vip experiences to fans. we met him in philadelphia where he was working on a genesis tour his application was denied for more than half a million dollars in aid a subsequent appeal and review upheld the decision. >> how did you feel when you got the first denial >> that was the most crushing moment because i thought i was going to get it. and again, i had made some -- not empty promises but i had made some hopeful promises to staff and vendors. >> reporter: on facebook, the group has nearly 400 members whose cases were denied.

the chief complaint is lack of understanding why they were denied. >> i was this close to bankruptcy i had about five days of run way left before i reconsider whether i pay bills, staff, or tell the artists i don't have the money to pay them. >> reporter: while some applicants believe the denials were incorrect, thousands of entities benefitted from the program. recipientsnclu l hamilton >> more than 5,000 applicants were invited to appeal and approximately 3,000 accepted some 2,000 were invited to have their funding awards reconsidered and some 800 grantees accepted. the sba did not specify how many businesses had their decisions overturned. >> i made the decision to open up an appealn of awarded amounts so that everyone could have their fair shot at these funds.

>> reporter: the sba administrator sat down with us in an event in new york city promoting the program's success. >> there are complex eligibility criteria, so externally it might look like they're the same type of applicant but they may turn out to be. it could be things for example, a museum, one has actual fixed seating which is a requirement, and the other doesn't. >> reporter: those behind the scenes who have been advocating for broader aid are still hopeful congress will come through. >> we did our job to protect people and keep people safe and now they're not helping us. >> reporter: the live events coalition formed in april 2020, representing more than 1 million small businesses will 12 million employees worth $872 billion in economic impact. some 92% of its small business members who represent trade shows, corporate events, weddings, local county fairs and more were left out of relief

>> and it's really hard to watch all of my colleagues go through this these are people's livelihoods that they worked on for decades. and no one is listening. >> reporter: a person familiar with the federal grant progress said while applications are reviewed by individuals adhering to a standardized criteria, individualized reviewers may use different data or financial review processes, each could impact the awarding fphase. the agency is facing two dozen lawsuits from businesses who were denied but believe they were eligible. that's according to plaintiffs the agency cannot comment on pending litigation >> what's the hope for the lawsuits and the businesses taking on the small business

administration and are there any those shuttered businesses or those left out or denied from the program? >> reporter: sure. so those who are suing the sba are looking for two things, they're looking for answers because many belief their denials or appeals were very unclear. they don't understand why they were denied, why they got a detailed response, you have to remember there's $2 billion still left unallocated in this fund so that's one part as for the businesses who were completely left out, i think there's hope particularly in the house because there's bipartisan support to get targeted aid to them other differing avenues would be a plus up on the restaurant revitalization that could help the catering side of that business but they're looking for aid to help all parts of the coalition. without us, when the world does reopen without live events you need these people.

so many businesses are going under, the covid variants are continuing to spread we started working on the story when delta was going on, now it's omicron, these businesses are struggling, they need help, and they hope congress will listen and get them aid. >> for more, go to cnbc.com. any small business owner would take some interest in what's going on there kate rogers we appreciate it headed out to break, checking the price of bitcoin as it dips below the 42,000 mark, right now 41,896 across the board, cryptocurrencies in the red. th 3,155 we'll be right back. staying up half the night searching for savings st. we search for savings for you.

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stocks looking to bounce back after a rocky first week for the new trading year as investors turn their attention towards key inflation data and testimony from fed chair jay powell foreign policy in focus as the u.s. and russia kickoff high how it could impact president a lockdown measures in one city amid a covid outbreak as the country tries to take control of the situation weeks before, yes, the winter olympics kickoff. it's monday, january 10th. you're watching "worldwide exchange" right here on cnbc

welcome back to "worldwide exchange." i am dominic chu in for brian sullivan this morning. and here is how stock futures are shaping up halfway through the 5:00 a.m. eastern time hour here in the new york area. right now we'll call it steady the dow is implied higher by 23 points, the s&p by just 1 point and the nasdaq implied lower by 13 so mixed but generally more stable checking the ten-year treasury note yield hitting its highest levels in nearly around two years at this stage. currently around 1.778%. as you can see, moves higher over the course of the last week inflation very much front and center for a lot of investors out there. by the way, looking at that particular note yield we've been moving up consistently over the course of the past week. now to the biden administration kicking off high-stakes talks with russia today over the ongoing situation with ukraine

both sides down playing prospects of a potential agreement with roughly 10,000 russian troops gathered along the ukraine border for what the white house is calling preparations for an invasion the white house also keeping a close watch on the violent situation in kazakhstan with russia sending reinforcements in that country to help0 people han killed and nearly 8,000 detained during demonstrations over government corruption and poor economic conditions. as if that wasn't enough for the biden administration, back here at home, the house returns to capitol hill as congress kicks off its new session with democrats facing a lengthy to do list inclu trying to pass that build back better bill.rin gardner from steeple financial brian, i listed off so many things just in the last minute or so here

what exactly is going to be the key issue that will dominate the biden administration in the coming weeks what's the focus going to be on for them front and center? >> good morning, dom i think they would like to have the domestic agenda be front and center that's what gets voters excited. that's what leads to wins or losses but as president biden is finding out, all presidents find out, no matter what you want to do domestically, often foreign policy trumps all and dictates what the agenda is going to look like i think for, in the short term, certainly there will be work going on behind the scenes on a domestic agenda but the focus of the administration has to be internationally at this point. >> so if it is, if that's the fire you need to put out first, is it russia/ukraine is it china with the situation with us? is it in the middle east right now? what exactly is going to be the thing that really dominates?

it seems like right now it has to be russia/ukraine >> i agree for two reasons one, it just is the most acute problem right now, acute issue with russian troops on the border and actually in eastern ukraine. china's a longer-term problem. china is not going to be solved short term it's going to be with us for an extended period of time. but the russia issue is front and center because putin has made it front and center so for now it is the russia issue. >> over the course of arguably more than a decade now, we've haa number of geopolitical concerns that have raised their heads. each time the markets and the u.s. economy broadly has shaken them off, whether it was the middle east, iran, iraq, north korea. what is to say this doesn't blow over as well or is this time different? >> i don't know if this time is different. i suspect it is the same

i think the real risk to the t time won't be different so if it -- if the situation in eastern europe blows up, because it is so close to major economic hubs in central and western european, i think it has the potential to affect the market in ways we haven't seen in quite some time. that being said, i also think this is a longer-term strategy by putin it's not trying to invade ukraine for the sake of land it's trying to disrupt and divide the u.s. from europe. so to me this doesn't -- this doesn't get resolved immediately. and so, the markets actually may take some comfort in that, because if troops don't actually go across the border, it's just another one of those issues that you just listed, dom, that

doesn't impact the markets immediately. >> so brian, before we let you go here, there's this notion right now that president biden's overall kind of aura in washington d.c. isn't what it was. we have a lot of polling and survey data over the course of the last couple of months, few months here, that has shown his approval ratings dip, disapproval ratings rise is there a scenario that can play out for the biden administration to get some of the points back? what needs to happen or is this something that they're going to be fighting for weeks, if not months, going into midterms. >> i think it's something they're going to be fighting for months i don't think this is going to go away, any of the international issues that you just listed. tht predicting that the biden administration will be able to turn this into a political win, but their

opportunity is there for them to look strong on the international stage. and if they're able to seize that, given the problems that the administration has gone through in its first year on the border in afghanistan with covid, not getting some of the domestic agenda through, this is y in a while to really pivot and put a win on the board. if they can do that, then the president's standing could recover and better job approval numbers helps him get a domestic agenda through tough to see that happening right now because of the track record of the last year but the opportunity is there for them. >> thank you very much, we appreciate it. >> thanks, dom. to the situation now in china as we just mentioned and the race by officials there to contain the spread of covid-19, residents in the key port city of tianjin 30 miles outside of the capitol of beijing facing

new restrictions as authorities to try to stop an outbreak the new measures implemented weeks before, of course, the winter olympics kickoff there in beijing. eunice yoon is live from beijing to tell us what's happening. how serious is the lockdown, eu eunice >> reporter: well, dom, with the omicron outbreak about half an hour away, beijing is on high alert. i'm outside a vaccination center right now, which is urging residents here to make sure to get their shots. what we know so far is is that there are two cases confirmed so far in the city. 38 suspected, two in the central city of anyang, linked to tianjin. what we don't know so far is the source of this outbreak. also, how long omicron has been circulating in the community

because officials say that these infections are what they called three generations. they've been traveling person-to-person at least for two rounds now the port city of tianjin is ramping up mass testing, 14 million people are to be tested by the end of today, midnight. 76,000 have been quarantineduspd bus services, some of its flights, subway services, partial lockdown, authorities are also requiring permits for anybody who wants to leave the city from their employers or from community organizers. now tianjin port itself made a statement saying operations are normal but they are ramping up testing for workers. as you can imagine, the port is very concerned about the

potential impact this could have on the operations and the overall supply chain. >> so the supply chain is obviously a key issue for a lot of folks when it comes to port cities like where you're at right now. i wonder, also, this is a very high profile time for beijing coming up, the winter olympics put them on a center stage we saw what happened with the postponement of the summer olympics and the complications there. how seriously does china have to deal with the image it's portraying with this given the fact we are just days away from a very, very large sporting event on a global scale? >> right the image and that reputation is incredibly important for beijing. and for president xi himself he's said the past that the olympics is going to be important for china and its

image. he's really been doubling down on making sure that the olympic games are going to be pulled off without a hitch even though this omicron outbreak is so close by to where the venues are going to be hosting all of these olympic and sporting events. >> and before we let you go, realn your mind? do you see a lot of the tangible evidence of those lockdowns happening? >> absolutely. just in the past couple of days, even around my community and my compound we're starting to see a lot of those same measures, such as temperature checks as well as the vaccination centers really trying to urge people outbreakf omicron very seriously >> eunice in beijing thank you very much for that we appreciate it coming up on the show, the ceo of rolls-royce motor cars breaks down a record 2021 year for the

luxury automaker as we head to break, your top stories, tesla is raising the price of the premium driver assistance package in the u.s. elon musk announcing the move on twitter saying the option will climb from 10,000 to $12,000 next week. subscriptions for the package will also cost more as well. ford is warning dealers over the launch of the f-150 lightning ev, according to a letter from the automaker to dealers it's telling them not to upsell reservations for the pickup truck and it wants to make consumers sign a contract preventing them from reselling it within a year

welcome back to "worldwide exchange." the auto world coming off a week of disruption from ford doubling production targets for the electric f-150 pickup truck and chrysler saying it's going electric by the end of the decade to gm unveiling the ev truck, and sony throwing the hat in the ring on evs as well but there's another company that caters to an entirely differennh buyers p this is rolls-royce. joining me on a first on cnbc interview is their ceo his company out with year-end results just this morning.

thank you very much for joining us today let's talk about whether or not you feel goals being met and what they are for this year. >> yeah, dominic, thanks, first of all, for having me. i'm quiet, let's say, optimistic about 2022 we have long lasting auto book nearly until the end of the year so you can say the year is more or less booked and that's great to see, and i think we see strong, unprecedented demand all over the world. and for that reason i'm pretty, let's say, confident we can also fulfill all the demand worldwide when it comes to producing our master pieces. >> you deal with a very different set of buyers than the traditional, say, toyota, gm, ford type of markets how has the supply chain

impacted you you're not making the same number of cars as those other automakers are but i have to imagine some of the supply chain issues have reverberated in your side of the business as well. >> yeah, first of all, allow me to say we're not really in the automotive business, sounds funny, yes, we are building cars, i call them pieces of art, but we are in the luxury goods business and that's different in terms of client behavior and expectations and obviously we need semiconductors, chips for building our cars and you might know that we are part of the bigger bmw group and that has allowed us to secure all chips we needed worldwide. that was a big relief and big help from our parent company, bmw group. >> so when it comes to electric vehicle ambition now every other legacy automaker is

getting involved how much will rolls-royce focus on electric vehicles in the next five to seven years with competition ramping up on the luxury side of things? >> i think the electric drivi ao first clients will take delivery of the car and then we'll electrify the entire range of products and by 2030 we are fully electric i think electrification fits perfect to the brand it's silent. it's something we have inves investigating for many years already knowing our clients like it we were not satisfied with charging times and range and so on, now it's time to come to the market, and rightfully so.

i'm confident about us going full electric. >> before we let you go, your end of the market with your average vehicle costing around 4 to $700,000 in that range, your clientele is more acutely concerned with what's happening with the markets, do you feel your dealership model and clientele feel worried what's going to happen in the market given uncertainty in the policy? >> we are aware, observing that closely, dominic for good reasons because we are not immune against any what i call recessions or what might happen worldwide. so the stock market is for us an indicator and driving force for our business so we are watching it. that's the only thing i can say, let's see and keep fingers crossed business is not derailing in any way it keeps going from strength to strength this year and the next years to come, i hope.

>> all right thank you very much. we appreciate it, and good luck, sir. "worldwide exchange" is back rit teth ghafr is you could fret about that email you just sent. ...with a typo. aaaand most of the info is totally outdated. orrrr... you could use slack. and edit your message after it's sent. [sigh of relief.] slack. where the future works.

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welcome back to "worldwide exchange." back to the markets, futures right now stable with the dow implied higher by 2 points the ten year yield in focus as that metric has been soaring lately, up big currently 1.77% joining us is lindsey bell from allied invest and a cnbc contributor. this is a market that didn't get off to a great start over the course of the last week. are you worried at all about wef januar the santa claus rally so i think investors are reassessing the risk as they enter the new year and the focus is on the rising rates and the fed's plan to come off their

easy money policies they've been on over the last two years so i think investors are really focused on that. the first half of the year could be choppy while we try and figure out those two big uncertainties. i think when you look past that into the second half of the year, there still are a lot of positives underlying the economy. we have a strong consumer, we have earnings growth that look reasonable and valuations have come down quite a bit even though trading at a premium versus historical prices that could be okay if enters rates don't get out of control and inflation does begin to subside. and finally the third and final thing i'm looking at is really while the fed is removing liquidity corporations are putting liquidity back into the market with their spending through cap x, buy backs and dividends. that could be something people haven't thought about in the year ahead what parts of the market are

poised to benefit from the corporate liquidity being injected in the system is it still the megacap companies that buy back billions of their own stock or is it on the smaller cap side of things as the economy continues to try to recover >> well, i think you're going to see a dichotomy of both. we've seen the big mega cap companies like the financials and technology, higher growth sectors, the companies with strong and reliable cash flow they are already starting to commit to bigger buy back programs and cap x in the year ahead and we expect that to continue but this is an opportunity for smaller companies too that have been able to have cash on the balance sheet because they took advantage of the easy money programs at the beginning of the pandemic we get out of this pandemic stage and into a new normal, maybg to the old

normal where people are getting out and about again, the small cap companies will have opportunity. >> can the u.s. consumer stomach multiple fed rate increases this year >> look, i think they can. but they have to come at a steady pace. they can't come super fast in other words, the fed, if they raise every meeting at a quick pace, then the stock market is going to wobble, and it's going to underperform. we have seen, versus history, if they are -- if they're thoughtful and they are communicating their plans and they're able to raise rates at a stable pace, then the market can do just fine even if there's a little bit of rockiness and volatility around that first rate hike, we can still see a positive end to the year from a price performance perspective into the market. >> lindsey bell, thank you for the market thoughts. have a nice week so let's check out what's

happening with futures right now. you can see a stable open implied the dow by 10 points higher also check out cryptocurrency, bitcoin below the 42,000 market, 41,813 the last trade there. thatoes dit for us on "worldwide exchange. "squawk box" picks up the coverage next. amazing. jerry, you gotta to see this. seen it. trust me, after 15 walks... gets a little old. ugh moving is a handful. no kidding! fortunately, xfinity makes moving easy. easy? -easy? switch your xfinity services to your new address online in about a minute. that was easy. i know, right?

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good morning, stock futures relatively flat after the s&p 500 started the year with a four-day losing streak we'll show you what is moving right now. and covid cases, they're surging in the u.s and now china is locking down a key port city amid an outbreak there. we have details straight ahead plus we'll get you ready for a busy week ahead, including new inflation data, testimony from jay powell and the kickoff of

earnings season. it's monday, january 10th, 2022. and "squawk box" begins right now. good morning, everybody. welcome to "squawk box" right here on cnbc i'm becky quick along with andrew ross sorkin joe is off todayt mentioning, it was a down week for the markets last week. in fact, it was a pretty rough way all the way across the board. but week-to-date it was the nasdaq that was the biggest decliner, it was down by 4.5%. this morning the nasdaq indicated down once again, by about 35 points. s&p down by about 2.5 and the dow indicated up by 12 points right now. but we've seen markets flat this morning. we had the confusing jobs number on friday, where you had job