it is 5:00 at cnbc here is your top five @5 wall street going crazy. borrowing cost and interest rates continue to rise, not just here we'll tell you what happened in germany that hasn't happened in years. after that massivemicrosoft in

the 5g flight side one side going to the corner for n now. what verizon and at&t agreed to to keep your flights save, at least for now. it is january 19, this is "worldwide exchange. thank you for watching i'm brian sullivan we are seeing stock futures turn

around after a rough day for wall street we saw the dow fall 1.5% the worst since thanksgiving worse for big tech and nasdaq coming off a 2% loss the first time since below that mark since april of 2020 nasdaq sitting on that 200-day moving day average level watch that to hold and get the market rally if not, it becomes resistant something we'll help you to watch. with all the big average, keeping track of where you are don't worry. that's why we are here we'll do it for you.

>> the dow just over 4% and the s&p on that 5% mark. the nasdaq just over 10% about 10%. small cap got pushed around and the transport widely seen as the key indicator at about 14% there. in bonds, maybe the big story of the year in the market 5 and 10-year yield at the highest level since before the pandemic lockdown. that yield around 1.9% home buyers, take note mortgage rates on the rise and likely going higher here also, will cost you more to fill

your gas thank the eight-year high, california at or above $5 a gallon. around the world history in the making. turning positive for the first time in 2019 an historic day for german bond dealers. >> i couldn't be more excited. with you from london this morning. the story of the day, like you said, the ftse 100 slightly above. the cac 40 up. president macron about to give a speech let's switch to the german bund yields we saw the 10-year creep into

positive territory for the first time since may there on the point of .0060% we saw that rise again and go back down finally after that selloff in the market. bringing you a couple of corporate stories. they came in higher than expected at 1.7 million euros. in other news, tiktok owner bytedance has dissolved its investment arm they will boost the formation between research and the business this news does come as they've

gone restructuring back to you. >> we'll take it back from you cross atlantic style back home, a rough start to this year so far. at 119 s&p 500 companies 21 or 22% of the index now in the bear market of course, a bear market is a process. don't at me, i get it. of 119 stocks, 12 are down 20% this year alone. biggest losers, moderna, etsy, battery maker enphase and align

environment. joining us now good to have you back on the program. what do you make of the first wild week so favre 2022? >> it has only been about 12 days but feels like a month or two. the markets have started off on an unsettled start based on the fact that the consumer is in a pretty healthy position right now new orders continue to rise to a healthy level. we have seen about 8 to 10% earnings those are positive over short term, the markets likely remain unsettled. we talked about that

o omicron and inflation. the fed is probably the biggest wildcard the fed is moving to accommodate a policy at this point, four rate hikes are pencilled in the market for this year interest rates will likely raise the pressure. >> let me cut in there and get back to rates. we assume a rate hike will be a quarter point. it is suggested we need a half

point they've set up the number of rate hikes and the timing of that the market is dealing with rising rates the fed is talking about. that tightening along with rate increases is really what unsettled the market you look back to 2018, they put off the rate there i think the fed is unlikely to raise unless we stay at this level longer than expected period >> so now back to the other risk this year. you mention omicron.

i published the stuff saying hopefully it will wind down by march or april let's talk about the election. we for get, there is a i massive midterm election coming up this year i know november seems far away do you think that could cause more volatility overall in stocks >> i think the numbers are indicating for a first-term president, i think republicans will making a move we've had millions of stimulus we can argue that is partly attributed to above average consumer spending. to the extent that the republicans come in and we see less in the way of fiscal

spending, the markets may see that as a positive >> we are seeing futures up a little bit today some technical levels will be holding as well. a lot going on under the hood of the market we are just getting started here on "worldwide exchange." on the heels of the microsoft deal, game maker going the other way, shares of sofi surging. get some make yr love for regulators but first, is the backup at the ports really getting better? no not really but that might be good news for you as an investor we'll tell you why ahead no pa, dyes, or fragrances. gold bond. champion your skin.

good morning and welcome back let's get you up to speed on this morning's top corporate news good morning >> brian, good morning happy wednesday. shares of sony making a sharp move lower overnight closing down more than 12% on new competition concerns after microsoft buying act vision for

record $68.7 billion advisors recommend shorting the stock so sony will have eaa monumental challenge on its hand and moving from alliance to capital one with bj's among the most prized partnership accounting for $1.5 billion in balances claiming the company is slowing down the transfer. capital one's name is redacted from the lawsuit the san francisco bank received approval to become a bank

holding company. in order to become a bank operating at sofi bank the deal was announced last year and is expected to close in february >> thank you let's talk shipping and shipping rates. last year was a boom for owners the world desperate for goods is willing to pay up. some of those rates have pulled back since the fall but they are still really, really high. many stocks have benefitted. let's talk more with randy senior vp.

he's got his top picks for the year and on all of wall street last year with a 76% success rate we celebrated by asking you to get up at 4:00 in the morning or 3:00 thank you for doing it where do we stand right now? clear it up. i've posted some screenshots of ships. they've just moved them down to mexico to hide the ships where are we really with shipping demand and port congestion right now >> good morning. we are at an all-time high for shipping demand, port congestion rates you see coming in from china. when it comes to port congestion, there was a lot of

headlines with fewer ships off san pedro. that was because they told them to wait 150 miles more to the west right now, you have over 100 container ships waiting to come into l.a. and long beach to get offloaded. so, yes, it has gotten worse and worse. now not just in l.a./long beach. it is in houston, savannah, on the east coast and it just gets more and more backed up. >> a lot of these ships will say for get about it let's just go to the panama canal. there is no way the gains from 2020 can hold. are they holding up at all and firming up where are they >> absolutely.

everyone thought when the rates peaked in october that that would be the beginning of the end. that rates would kick down after about two weeks, they started going back up. as that chart shows, we are back to the all-time highs. all these factories are pumping out as much product as we can to get ahead of that. there will be seasonal things in february with the chinese new year we think rates in 22 they might not stay at these levels for the year, they won't. they'll fall back to where they are today to where they were last year. >> made a great call on zim and others what are some top names for this year >> great question. zim has been like song 121

song of the set. others are the nouns corporation, they own the shipping containers. we like golar ticker glng. sblk and gnk carriers. on the shipping side, navigator holdings nvls. we like international sea ways, ticker incw. >> i love it randy, a great call there. we'll let you get back to bed. appreciate you waking up early making investors a lot of money. >> you are welcome

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fear that russia may invade ukraine. secretary of state blinken is there trying to calm both sides. we'll go live to kiev. richard, thank you today's meeting is the first of a sit down over the next few days including one with his russian counter part what can we expect >> this is another attempt at diplomacy. last week, there were several meetings in europe they did not achieve any breakthroughs. a last ditch effort. what we are seeing now is a different tone coming out.

for weeks now, a warning about the russian buildup. u.s. officials have moved more into belarus now u.s. is saying, the time has come they have the forces available now to launch an invasion any minute secretary blinken met with u.s. embassy staff talking about contingencies about their deployment and their families should a wider war escalate or break out. we are now at a different stage and we are seeing another round of diplomacy to try to get russia to pull back. russia is demanding that nato never expand into ukraine or georgia and nato shrink pulling back from eastern europe and the

baltic states. nato says that is effectively a nonstarter the two sides are at laggard heads and they are in position to attack should they want to we talked about that exerting power. there may be other things at work using the troops to leverage over to try to get the concessions over from the united states russians clearly made the deal

they would not fight and nato is not going to fight russia on russia's doorstep. pushing the agenda pushing for the contraction of nato personally something putin has talked a great deal about. he's talked and written about his affinity to ukraine. ukraine has always been a part of the russian heart he feels the time is now in many ways to weigh the balance. how curious they would be and whether they would weather the storm. >> that's why you are there.

>> state side and how you can get some covid tests sent directly to your home. >> good morning. breaking overnight, u.s. attorney general announcing new details over investigations of the trump organization filing a motion to compel former president donald trump, donald trump junior and ivanka trump to give testimony they've uncovered significant evidence that the trump organization used fraudulent and misleading information to obtain financial benefits and that donald junior and ivanka have all been involved in transactions

previously, the trump legal team argued they cannot lead investigations while also involved in a criminal investigation with an active jury attorneys for done junior, ivanka and the former president did not immediately respond to requests for comment tomorrow marks one year since president biden was sworn into office. he'll wrap up the first year with a formal press conference he is bracing for some tough questions on key set backs like the surge in covid cases fuelled by the omicron variant and the soaring inflation that can be felt everywhere from the grocery store to the car dealership. last year marked the highest rise since 1982. help is on the way for millions struggling to find those at-home

covid-19 tests the website launched to order at home every home in the u.s. is eligible to order four tests orders will ship 7 to 12 days. to get yours, head over to covid test.gov also making 400 million surgical n 95 masks available for free at thousands of locations nationwi >> ordered mine yesterday, says delivery late january. the website was easy and quick to use thank you very much. on deck, your morning rbi. the places americans are moving to and something incredible has just happened as so many people apparently moving out of california a state we have vener heard before futures and oil both higher right now. we'll leave you with some of

tuesday's big decliners. back in two minutes.

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>> in the new year, stock selloff finally slowing down here to guide you through all the volatility and some of their best ideas right now the 5g flight fight on pause phone companies take a break in their rollout as airlines warn

your safety may be at risk >> one incredible stat around california as far as we know has never happened before. coming up wednesday, january 19. this is "worldwide exchange. welcome. thank you for joining us now with your stocks futures are in the green we are seeing slight gains in the market we are up one tenth of 1%. many of the major averages, the

dow fell to 1.5% its worst day. down at home tech and nasdaq even worse the nasdaq composite below the average. the first time that happened since the first time the pandemic hit in 2020 rates are rising 10-year yields are picking up. meaning mortgage rates will continue to rise as well i thought about making the rbi but i didn't a new survey. their appetite for risk assets and stocks so far, this month, compared to last month, zero percent say

they are much more bullish 0% 47% said slightly more bearish and 36% can't make up their mind joining us now, our friend thank you for joining us how would you have answered that survey >> i'm a little more optimistic than most but i want to take a step back for a moment in the

last 18 months, we've become so conditions, the market can't go down it makes all the sense in the world this is bearish i do believe this is healthy, now that we have one, people are crawling under their desk. people are grappling >> now is the opportunity when you look at some of these lagarde names, look at boeing,

lockheed martin. we are still trying to work through only kron and whatever pote potential variants come out. i do have a tilt we talk a lot about essential and epicenter names. i still like semiconductor look at sosx and last, i know interest rates are moving higher. i believe 2% is the ceiling. housing is pulling back a little bit. we still like housing. home depot has had a rough start since 2022 >> mortgage rates have got to go up >> any one-tier city

chicago, l.a we are seeing demand as people continue to look for more housing and opportunities to work from home interest rates are very low. look at the broad swath and i still think there is more room to run there the vix is only at 23. people have to understand, this is normal. we've been in position for so long no one likes a 1% pull back in the 5% pull back of the s&p 500. >> watching ibm, watching lockheed and some of the home builders i love you dropped in a little hopium reference taking me back 10 years ago, 0

pounds ago >> coming up, former spirit airlines ceo will layout what is really going on in this 5g fight. he says this is a faceoff that is a major ball drop by the federal government some other top headlines happening now, shares are rising and news that the fintech final hurdle you made it your bank. requiring south california community lender to operate its subsidiary >> and the spac over palihapitiya after he said nobody cares about expensive human rights abuses against

muslims in china ford reported an $8 billion gain thanks to the investment in rivian that stock hit hard it was at $176 a few days after the ipo. n. let's do it! new and existing t-mobile and sprint customers, can upgrade to the iphone 13 on us. on our most popular max plan. do we have a plan for the second half? nah, we're gonna get creamed... but we'll be on t-mobile!

welcome. in a showdown between the country's biggest airline, it seems the ladder may have blinked first. verizon and at&t say they will not roll out faster service. all on worries the signals will interfere with critical technology saying 5g is not a threat to aviation not convinced as they warn of massive and cargo disruptions. joining us now to discuss. host of the cost podcast

if i have to listen to one side about the risk to the airlines, i'm listening to the airlines if pilots and airlines say it would be a risk. where do you stand is. >> i think you are right many modern airliners use what is called a radio altermeter it tells the pilot how high the airplane is off the ground there is nothing about the 5g roll out that will change how those work the risk is that a high-powered 5g tower near the airport might send a signal out that will provide misleading information to the pilot around the world as 5g has been

rolled out like in europe, it has been rolled out at a little lower power setting. and they've not had the problem like we had in the u.s european cell phone users in the u.s. now, this has been known for years now. they've been warning the ftc that the power being used and the range being used could send false messages to airliners. the wireless industry kept moving forward not changing its band or power and gotten to the

faceoff it will be understanding the right power to use >> why is it such a problem? >> the problem is ju the right hand not talking to the left hand >> the faa has known this for a while and screen thd for a while. the ftc has moved forward for a while defining bands for 5g. they are just talking past each other. now it has come to a head where the airlines are saying, look, we have to cancel thousands. many canceled today because they didn't know they were going to have trouble landing it is especially a problem in bad weather where radio atmeters

are out in front of them it has to get to a mutual meeting of the minds here. >> all we've said is out of an abundance of caution children can't play on an outside airport. >> thank you for bringing some rash and calmness to it. we appreciate it >> thank you, brian. we'll be safe in the air for sure don't miss verizon chairman coming up at 8:30 a.m. on this very issue my guess is, le take the other side of the story. on deck, stocks with steep losses bracing for earnings here to make sense of all of the market volatility.

former tech titan high on her radar right now. the general reminder, if you haven't already, check out or podcast. check it out later in the day. futures are up as well oil prices up. more after this. and your customers want seamless and easy. with ibm, you can do both. your company can monitor threats across your clouds, address all those regulations, and still create all new experiences. trustworthy ai powered security. that's why so many businesses work with ibm.

time now for today's rbi for someone who lived in los angeles until i was a teenager, i have a lot of fond memberries. a lot of people are leaving the golden state so much something random but interesting just happened. u haul's growth index just unveiled showing the highest percentage of you haul trucks going in versus going out. the most in bound moves, you can

probably figure it out looks familiar, right, number one, texas, number two, florida, number three, tennessee. all three of those states, no state income tax number four, south carolina. a little surprise there. number five, arizona we should note again, no state income tax why do we mention california once again, california was the number one state for moving out. u haul said this, quote, california remains the top state for out-migration but net loss not as severe as 2020. okay listen to the rest of it, quote, that can be partially attributed to the fact that u-haul ran out of inventory to meet custody demand for outbound equipment.

u-haul ran out of trucks in california some people go one way, others go back the other. it usually balances out. not this time. seems the golden state are out of balance houston, tampa, nashville are the winners. california hoping this changes this year. random but interesting >> investors try to balance out it looks like a broad base selloff. what i'm seeing is a continued

rotation you've got things like the s&p down 4%. world index is barely down at all. barely down 2% the russell value and growth down 11% where it is really crazy, ark funds down texas down 7 but energy up 17% on the year. i'm not seeing this in the light i'm seeing this as a healthy rotation and risk being reprised maybe 5 to 10 years of risky

assets getting wild and crazy. evaluation correction, which is really healthy for the long run. so i like what is going on even if its not as pretty as it has been >> you are pretty steady when it comes to your ideas and picks. some people, eye roll, are bullish on energy stocks oil and gas are you a massive buyer of oil and gas stocks. you know what i'm talking about. >> it wasn't uninvestable. i wouldn't say i'm a massive buyer or a stronger holder of what i own energy is up 17% collectively this year. up 55% from last year.

i'm a little surprised we are up this much year to date one of the companies we really like in international strategy we have a company trading at eight times earnings it is a direct beneficiary of the price of oil at $86 a barrel we also own chevron and still holding it very comfortable with it i don't think we'll have the same return as last year >> you've been steady eddie on chevron a long time. big on renewables on wind and solar and renewables as well i got the hard wrap in my ear. verizon, a pick of yours >> verize on also.

i'm looking for companies with logical valuation. earnings growth in the midsingle digits ahead logical valuations is where it will be at for the coming here >> chevron, total energy, verizon. we love to go long with you. making you get back up early soon appreciate it. >> we appreciate you gtietng up early or staying up late to watch. we'll see you same time tomorrow "squawk box" is up next. have a great day flush you work with, together in one place. slack. where the future works. as a business owner, your bottom line

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. pointing to slight gains after yesterday's selloff.

continuing to climb and the 10-year in germany just went positive for the first time in nearly three years hard to imagine. we'll hear from bank of america and morgan stanley in the next hour or so and fintech startup sofi cleared the final hurdle for starting a bank january 19, 2022 "squawk box" begins right