here is your top five at 5:00. stocks trying to hold their ground after a brutal start to the year for most indexes. the nasdaq in correction but futures are higher right now are rising rates to blame for the selling? yes. but something else you have to see may also be a big reason jim o'neil is here to weigh in, coming up. in d.c., president biden warning vladimir putin not to invade ukraine, but what happens if he does would oil spike to $100 plus

e lina kroft is here. why the bar could not be lower for netflix right now. so much talk about oil, what about the gasoline of electric cars lit lithium. new numbers show why that e.v. you want may get a lot more expensive. it's all happening on this thursday, january 20th, and this is "worldwide exchange." good morning, good afternoon, good evening, and as always welcome from wherever in the world you may be watching. i'm brian sullivan, thank you for joining us on "worldwide exchange." let's jump into the markets. things are holding steady right now. futures are slightly higher across the board nasdaq right now looking the best of the three major averages their futures up just under one half of 1% investors likely hoping for a

turn around thursday the nasdaq composite and nasdaq 100 both falling again on wednesday and are now down, both, more than 10% from the recent highs so at least technically speaking they are both in a correction, down 10% from that peak. let's hit bonds. the ten year yield is holding steady as well at 1.83%. it held that ground yesterday right around the same level. so one wonders if the gains in ten year yields for the year may have been done in the first week now to energy, yesterday's rare press conference from president biden when asked about the price of oil, the president said, quote, we are going to continue to try to find ways to increase oil supplies, end quote. we'll see if that impacts oil prices that are marching towards $90 a barrel right now down but $86 here and

close to 90 over seas. and to asia, hong kong's market surged 3 on the back of china's central bank cutting rates. and europe getting the trading day begun with the averages there lower across the board. a big focus there on germany, producer prices, ie inflation, rising at its fastest annual pace ever in germany and the russia, ukraine standoff looming large over that entire continent right now. and that russia/ukraine issue was a major topic of president biden's press conference wednesday speaking for nearly two hours he hit on anything saying he did not overpromise on what he could get done in office, all this while he's trying to get a grip on inflation, dealing with

vladimir putin and russia, and keeping his spending bill alive. we have more >> reporter: it was a fairly long press conference that president biden held, nearly two hours and he answered an array of questions but the president seemingly offered a self-assessment of his first year in office, acknowledging missteps when it comes to covid-19, but also promising to do things differently in year two. the president touted accomplishments such as the bipartisan infrastructure law, the nearly 200 million americans vaccinated under his administration as well as strong job growth but the president also acknowledged setbacks including that failed voting rights legislation push that's something that the administration says it will continue to fight for. now moving forward, president biden says he hopes to pass chunks of his build back better legislation, but he also made news when it comes to ukraine saying he predicts a russian

invasion the president says if that happens, putin will be held accountable. in response, the kremlin says u.s. sanctions will not -- or u.s. sanction threats will not help reduce tensions there the kremlin also says that it does not rule out conversations between president biden and putin. brian? >> nbc's brie jackson in d.c thank you very much. we'll get more on that in a moment inflation and russia may be the two most important things for markets and your money right now. higher interest rates, of course, are getting most of the blame for falling stock prices this year, but is that it or could it be something else having to do with the federal reserve and its soon to be declining balance sheets look at this chart from deutsch bank it shows the surge in the big tech stocks, that is the faang names alongside the growth of the balance sheets of five

different central banks around the world. can't tell the difference? that's the point because as banks have built up their balance sheet, stocks have soared almost exactly in line with it. so what happens when, and if, this reverses? former goldman sachs asset management chairman jim o'neill is with us again jim, good to chat with you, again. >> hi, brian. >> i showed that chart knowing that a lot of viewers at this hour in america are going to look at it going what am i looking at the two lines look exactly the same that's the point we were trying to make. how much have not rates but balance sheet expansions meant for the growth and money making of a lot of big tech names in your mind? >> gosh. i put that in there with the hundreds of other things that i feel quite uncertain about for the future

but what is for sure is, disciples of milton freedman have been having a field day the past six to nine months because that enormous growth in the red line has led to or certainly contributed very significant rise in things you used to talk about in the early days of my career, 30 years plus back money supply because in many parts of the developed world, monetary growth has been rising sharply. and historically fast monetary growth has led to all sorts of things, faster than trend rate of economic growth, faster inflation, and for a period, rising stock markets so it is pretty consistent with what's what happened, that's for sure >> and you noted in your latest piece that you put out, you talked about monetary policy, talk about flattening yield curves as well we have seen -- i know this is

going to sound weird to a lot of our viewers that are new to the financial market the move in the bond market in three weeks has been pretty spectacular by bond market standards. and i don't use spectacular necessarily in a good way. what do you make of this ultra tightening in just three weeks, jim? >> unless your viewers and participants have similar vintage, let's call it, to myself and were around in 1993, '94, they won't have been particularly familiar with something like the past three weeks. but that period was literally of the past 35 years, the only surveyor sustained multi-week move in bond markets that has existed in the negative sense. and we've had three weeks of a version of the same. and if this was to go on, to repeat exactly 1994, then we

would have a bit of a horror show coming in the financial markets. especially given the very high levels of valuation the equity markets started off. as i wrote in that piece a couple of weeks back, it's almost classic circumstances of people that came, like myself, out of that era. and it's partly because the markets are really unsure of what the fed's real mission on inflation is, and, of course, as you're focussing on throughout the show, almost daily i'm sure the past few days, quite how far the fed is gonna go. your colleague didn't touch on this part of biden's comments yesterday but to my eyes and ears he gave a nudge to get on and move rates to the fed, which is quite remarkable coming from

a democratic president but the issue all over the world is trying to get inflation under control so there's not this huge threat to income growth as well. so it's all quite concerning. >> i would like to say that great minds think alike, yours is far greater than mine but yesterday i tweeted out one of the risks that nobody paid attention to in that conference was exactly that he basically deferred to the fed. he said, fighting inflation is the fed's job. my eyes popped and i thought, he gave jay powell and the fed the political open door to sort of do whatever it wants on inflation, did he not? >> i think he did. that's how i read it we've seen the same thing here in the uk. the british finance minister, or the chancellor as we call it, has been getting onto the media because we had very high

inflation figures, we pause it here again and he essentially gave cover to the bank of england to raise rates. and, of course, at a time where there is fiscal tightening going on at the margin, after the admittedly mammoth stimulus of the last two years, this is probably why yield curves are starting to flatten a bit and equity markets showing some concern because tightening monetary and fiscal conditions at the same time aren't usually known as being particularly good recipes for sustained economic growth so there's lots of tricky things here that the markets are having to deal with >> and the rate hike forecasts are all over the map from a couple, two or three, to i think somebody from j.p. morgan had eight or nine mention the other day. >> wow. >> let me go back to a previous thing you said earlier, jim, which was horror show. you said it's going to be a horror show for certain parts of

the equity market, i think it has in many ways, especially with money losing companies, stocks trading at 100 times projected because they have no earnings, projected results, whatever metric you may want to use. is there any reason to own those companies now? in 1995, the dow rose 33%, even after a bunch of rate hikes but high multiple companies got hit. >> yeah. yeah you know, i think in that sense, as i'm sure there is evidence of it, for true equity sector pickers and specific stock players, you know, this is one of the most interesting times and actual opportunities, i would guess, that we've seen for quite a long time. and for real experienced market players, this should be a great opportunity to prove that you can give alpha, because we've

had, for, you know, most of the years of the past 12 years, essentially high liquly correla markets that have been down to fiscal generosity. if we're starting to come out of the pandemic to an endemic stage, which is increasingly the mood over here in europe, by the way, we're going to see more natural economic growth recovering as well the policy makers do not need to continue with the emergency-type policy support, even if inflation stabilizes we need at one point to get back to a world where there's a positive real interest rate. and that will mean some of these enormous gains that we've seen in certain parts of financial assets, perhaps including things like crypto, certainly block chain and some of these others, are gonna have further corrections, because a lot of

them are just based on huge amounts of monetary growth, and the key for real stock players is to note the difference between those with a sustainable business plan and those that don't. >> i think if i'm paraphrasing you correctly, jim, it's been very easy to look like a very good investor the last few years, courtesy of central banks. it's going to get a lot harder going forward. jim o'neill we love your perspective, your vintage as you call it, jim, thank you so much -- >> that's a polite way of being old. >> i'm right there with you, friend it's been easy to make money the last ten or so years, it's going to be a lot harder thank you so much, jim o'neill. when we come back, a deeper dive into president biden's comments on russia, ukraine and vladimir putin

helima croft is here to way in and then laying out the bull case for fuel of electric cars, lit lithium, and why prices may be going up, up, up futures are up we're glad you're up we're back right after this. and how teenagers are ready to absorb the money conversation. ♪♪ i am daniel dibiasio, managing director, morgan stanley wealth management. a great way to start with a high schooler is to start with something simple and achievable, yet dynamic. could be making a purchase, like a pair of sneakers or a sweater. saving to have a few dollars for a future purchase. or how much money do you think you spent this week? and starting with some actual facts. so it's an exercise i think to be engaged together with your children, rather than giving out like a homework assignment. having a job as a teenager is an incredibly valuable experience and not necessarily just about earning the money,

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and backing from an expert team, 24/7. and for even more value, ask how to get up to a $500 prepaid card. get a great deal for your business with the ready. set. save. sale today. comcast business. powering possibilities. welcome back there's so much talk about the price of oil and gasoline lately that it might be easy to forget about the, quote, gasoline of

electric cars and that is lithium. and lately lithium prices are surging. last year in china prices more than doublied demand for e.v. batteries is soaring and it's not getting any better demand should out pace supply for a few more years let's talk about what this might mean with susan zu thank you for joining me here on cnbc, i read your latest note with great interest because lithium is going to be the fuel of the future. where do we stand right now with supply and with demand >> yeah. and actually, last year we have seen what progressive missing price hike and in china this for every price over 100%, in 2021 from 2020. and also, prices on asian market

also rose about 50% last year. and the price hike was mainly due to the tremendous demand from the battery sector, especially from the e.v. sector. but such growing demand is challenged with some kind of supply bottleneck in the upstream sector which is mainly due to the price decline back in 2018 and 2019. those price downturn has idled quite a few upstream projects and discouraged appetite in the field. that's why we've seen price rise but from last year we have seen some upstream project respond to the growing demand and prices, but that was still quite slow. so in 2022, estimate the price momentum may persist throughout 2022 and -- but that was in a less

aggressive way compared to last year and we think by the end of this year, the prices in asian markets is likely to rise by 50% compared to the beginning of this year. >> susan, there are so many very bullish projections about electric vehicle sales around the world. you're in shanghai right now, ostensibly the electric car capital in the world, is there going to be enough lithium in the next five to ten years to build all the batteries to make all these cars >> yes so the -- as far as the demand is there, as i said, the supply side will respond to this rising demand however, there will always be a time when the rise in demand can outpace that supply. seeing from 2025, and we will project that scenario. so demand from the -- a demand

of lithium from the factory sector will out pace the supply and that will last for a couple of years until we see kind of meaningful supply from recycled lithium, for example and also think that like in 2025 the year on year rose of battery demand will hit around 31% that is quite aggressive number. >> 31% big numbers. by the way, the price of lithium in china more than doubled from 2020 to 2021 the race for the assets to control the future susan zou, in shanghai good evening i will say to you thank you for joining us. >> thank you still on deck, why jeffrey says the bar could not be lower for netflix as they get set to roll out their results stock futures are higher

grab another cup of coffee we're back right after this.

good morning and welcome back to "worldwide exchange." i'm phillip mena here are some of the big headlines this morning a major break for the lawmakers investigating the january 6th attack on the capitol. the supreme court dealing a blow to former president trump by refusing to block the national archives from handing over a trove of records from the days leading up to the riot

a congresswoman says some documents have already been released ruch mr. trump filed a lawsuit in october arguing the materials should be shielded by executive privilege but two lower courts ruled against him. the supreme court is allowing the records to be handed over while mr. trump's review is under review only clarence thomas said the documents should be blocked in the meantime the cia has concluded the havana syndrome is not the result of a campaign by a hostile power. brain injuries were reported first at the embassy in cuba russia was thought to be using micro waves against individuals, but they denied that claim the cia has found plausible

ex explanations from the cases. those suffering say they're disappointed with the findings. a rare 555.55 black diamond has been listed for auction. the diamond is expected to sell for more than $6 million black diamonds are unique in that they're created from asteroid that collided with the earth. sotheby's is accepting cryptocurrency for this gem. we'll be right back. to be on autopilot. and to be prepared if anything changes. with ibm, you can do both. your business can bring data together across your clouds, from suppliers to shippers, to the factory floor. so whatever comes your way, the wheels keep moving. seamlessly modernizing your operations, that's why so many businesses work with ibm.

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will it be a thursday turn around the drumming of big tech as the nasdaq is down more than 10% this year, but futures are higher looming large, the threat of a russian invasion of ukraine. president biden warning putin, threatening sanctions if he goes in helima croft is here with why oil could go to $100 or more if he does. and tech facing the biggest threat yet as lawmakers look to put pen to paper in a new bill it's thursday, january 20th, you're watching "worldwide exchange" right here on cnbc welcome or welcome back, and good thursday morning, everybody. i'm brian sullivan, thanks for

joining us let's kick off with stock futures because they are higher across the board some green on your screen. the nasdaq just up over one half of 1% this morning the strongest of the three major averages the possible turn around today, slight as it may be, coming after big tech took another big hit yesterday. the nasdaq composite and the nasdaq 100 both falling again and both indexes with that drop are now down more than 10% from their recent highs so at least from a technical persp perspective, they are both in a correction a lot of that has to do with a rise in rates in the bond yields this morning, they are holding steady not seeing any move in yields, we'll see if that changes through the day. now to energy. in a rare press conference yesterday, president biden being asked about the price of oil saying they'll work to find ways

to increase supplies as prices continue to climb. we'll dive more into that in a moment. it's been a weak start to the year for cryptos, at least the big ones like bitcoin. right now the cryptos are slightly higher. bitcoin 42,000 and change, but remember it was above 60,000 just a couple of weeks ago let's turn now back to energy, not the drilling for it. but the distribution of it let's talk utilities coming off a strong 2021 with maybe some potential more room to run as investors move out of less risky assets and into the traditionally safer and more boring sector. dominic chu is here with more. good morning, dom. >> good morning, brian utilities were positive as were every sector in the s&p 500 over the last 12 months, but energy has been the best performer, no doubt about it, because people

have been playing for the economic recovery plus energy was so depressed at the depth of the pandemic if you look at energy versus the s&p 500 and the utilities. you can see even with the gains and the strength in utilities, it still was the worst performing sector in the s&p 500 over the past 12 months as a lot of investors focused on that so-called value cyclical economic reopening trade if you look within the sector, there have been massive standouts. of the 28 members over half have gained a lot over the course of the past year. you can see from utilities overall, first energy was up 34%. exelon was up 33%. and center point energy was up 27%. many others up double digit percentages as well. the reason why you say how can the whole sector be up 10% when most are up in double digits,

here's why nextera energy, if we focus on florida and light, at the performance the last year down 1.5% the reason why this is key is this is the single biggest market cap stock within the entire index of utilities in that sector over all by a wide margin nextera is 16 to 17% weighted in the index, the next biggest one is duke energy at around 8%. washington nextera back to you. >> the old florida power and light. dom chu, thank you let's kick to technology in one of this morning's top stories. the nasdaq, of course, falling again on wednesday that drop puts it technically in correction, off 10% from the most recent high in november the index down 4% in the last

two days and is on pace for the fourth losing week in a row. through 12 days of trading, it is off to the fourth worst start to a year in history in 2008, lost 11.5%, 2016, nearly 11% 20098% this year, 8% and 1996 down 5% this could be from our friend peter, who notes this, thank you if you're listening. the nasdaq's january loss so far is larger than the loss it has posted for any full year since back in 2008 when it lost 40.5%. we're not comparing this year to 2008, i hope but the nasdaq has lost more in 12 days than any year going back, what is that, carry the one, 14 years.

checking the names that dominate tech in the market, most in correction, with some knocking on the door with a technical bear market, i know that's a process, don't at me amazon down 17% from the most recent high. facebook's meta down 16% microsoft off 13 and on pace for the worst month in more than five years google down 10% and apple down 9% as well not to be out down, the n in fang, netflix, even worse. off more than 26% from the most recent high as it's kicking off big earnings after the close today -- or should i say results, there may not be a lot of earnings in those results joining us is jared matchfeld. we like to say earnings but if the company loses money they're not earnings, they're losses

what are you expecting >> shares down more than $200 from the squid game euphoria which seems like an eternity ago. investors are worried about the subscriber miss here and the guide down tonight it's going to be an interesting set up, i think folks are looking for 13 million paid net ads across december and march, versus consensus at 14.5 million so expectations are coming down, which is a positive set up for the stock and all eyes on the price increase they just put forth in north america last week by about 11% >> is that a good thing in a weird way? if you expect your kid to get a c minus on the test, they come in with a c plus and you're actually sort of happy about it. >> so we have expectations that are coming lower and then this price increase that's going through. two things to think about.

one thing where they're delivering so much more value, than they have in the past, right. if you take a look at -- this is the first price increase going back to 2020, sixth price increase since 2014. they're delivering more value, look at the slate that just came out in the december quarter, it's the most robust it's ever been and you have upcoming stranger things and you want to think about the potential turn and the fact that it's such a competitive landscape across broader ott offerings. i'm sure you see it in your house across disney, hulu, when you think about how much they need to spend for all of this content, combined with the competitive landscape. it's certainly a good two-way argument. >> and netflix has some amazing content. but none of what you're saying should be new to our viewers i know you and others have talked about this for years, jared. we have peacock, hulu, we have a

thousand different apps or channels, whatever you want to call them. whenever you plug in your apple tv or roku, they're all there, competing for the best content, talent why now, suddenly is this, they may be spending too much on content theme coming home to roost? they've been spending too much on content for years they've never had a dime of earnings, have they? >> no. and i think that's fair. but it's coming to the point we haven't been having to deal with this concept of missing paid net ads in the contents of a content inflection that is so significant. when you start seeing. they've gotten the pass over the years because everyone has been focused on the growth of the company and the raises on paid net ads when you have the combination of disappointing paid net ads, the concept of saturation starts to take over and that's not a narrative you want for a growth company. on the other hand, stock is now

approaching 20 times next year ebb ta, so valuation is becoming more much pattal and netflix has never had that backdrop. >> will they make money last quarter, jared >> all eyes are on 2022. so they're actually about to inflect here pretty significantly, brian they're going to be about break even from calendar '21 from a free cash flow consensus sitting at a billion and a half next year. folks think that's doable. that's where you get the trade off that free cash is flowing. >> break even is the new making a lot of money jared we appreciate your views on netflix i know those numbers will be widely watched tonight thank you. >> thank you. >> you're very welcome. let's switch gears and go to president biden's press

conference on wednesday, tackling a lot of issues in the nearly two hours he spoke. most notably warning vladimir putin on new sanctions of e expectations that the russian president will invade ukraine. and looking for fixtures on prices as crude faces $90. >> this is not a cake walk for russia militarily they have overwhelming superiority as relation to ukraine, but they'll pay a stiff price immediately, near term, medium term and long term if they do it there's going to be a reckoning along the line here as to whether or not we're going to continue to see oil prices continue to go up in ways that are going up now relative to what is going to -- what impact that's going to have on the producers. and so, it's going to be hard, i

think that's the place where most middle class people get hit the most we'll continue to work on trying to increase oil supplies that are available. >> let's bring in helima croft, maybe the person in the world to listen to on this topic right now. you and i were going back and forth at 10:30 last night, talking about this is the base case that vladimir putin will go into ukraine >> i think it's increasingly becoming the base case in western capitals that russia will send those troops across the border and potentially try to take kiev the interesting debate is what if he stops short of a full-blown invasion, solidifies control over the east, does cyber attacks. but there is an expectation that there's going to be increased russian hostilities and believe

people he's looking to reconstitute his empire. this is the most important story for oil market watchers to pay close attention to >> what happens if they do if vladimir putin decides to go into ukraine -- by the way, he went in 2014, i was in russia when he annexed part of crimea this would be much bigger than that what happens if he does? what do we do? what happens to energy prices? >> i mean, we've said we are not going to be sending troops to help ukraine it is not a nato country the question is, will we provide some other support to ukrainian forces but the expectation is russia has overwhelming military power. if they want to take kiev, it could be a horrible couple weeks but they'll take kiev. president biden talks about crippling sanctions on russia if they do that, so look for them

being quikicked out of the swif payment system but they're not going to hit energy. but the question is, does vladimir putin respond by hitting the west where it hurts by cutting off the supplies of gas into europe. by curtailing russian oil exports. using its power in opec to try to get the producer group to withhold supply. this is a challenge to biden administration they do not want $100 oil but the invasion is clearly a path to $100 oil. >> the president sort of eluded to that yesterday saying this. he said that petrol chemicals, gas, oil, were almost half of russia's budget. in other words, they can use energy as a weapon of sorts for so long but they need the money too badly to prolong any kind of energy standoff. does that make sense

>> i mean, the russians have built up their sovereign wealth fund so does russia have the bandwidth by withholding supply of gas to europe, and see who blinks first certainly europe has been having issues with rising utility prices, gas prices, if russia were to cutoff supplies into europe, what would that do to the will of europeans to see through sanctions on russia. so we're headed, i think, to a game of chicken on energy markets. the russians have to say what are our points of pain and maybe they have to accept the facts on the ground. >> in turkey, they're rationing natural gas now, and in europe they're using electricity at night because it's too expensive in the day thank you, appreciate it >> thank you so much

>> you're very welcome. coming up, big tech in congress' cross hairs today. lawmakers begin to prepare work on a bill taking the power of that sector maybe down a notch we are live in washington. ylan mui is next. united airlines warning the recent ramp up in the covid outbreak has hurt bookings, united lowering the 2022 growth forecast in their latest numbers. here's good news nearly 30 generic drug makers have signed a deal for merck's covid treatment bill the agreement will help get the drug to more than 100 middle and low income countries and amazon is opening a brick and mortar clothing store. it'll be located in southern los angeles and feature high-tech 'rba ia meros. wee ckn mont

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♪ what a wonderful world ♪ a rich life is about more than just money. that's why at vanguard, you're more than just an investor, you're an owner so you can build a future for those you love. vanguard. become an owner. [music: “you can get it if you really want” by jimmy cliff] welcome back it is 5:58 in the morning. hope you're having a great start to your day. a live look at capitol hill. the sun is not up yet but a busy day there for lawmakers as they get to work on their efforts to take on and maybe rein in big tech the senate judiciary committee is set too begin debate on a bill that would curb the power

of some of the biggest companies in the world ylan mui joins us with what is in the bill. good morning. >> reporter: good morning. a new push to pass the senate's anti-trust bill aimed at big tech and it's coming from other tech companies are banding together to call on lawmakers to take action several have been fighting the industry giants on their own through lawmasuits or working wt regulators this is the first time they coordinated to amplify their voice on capitol hill. >> you're seeing for the first time so many small startups that are getting off the sidelines and speaking out, because i think the environment out there has gotten so on hostile we haven't seen this type of cooperation between venture capitalists and entrepreneurs really in 24 years. >> yelp's ceo and other

executives met yesterday with top white house economic advisers and they're encouraged by the support for the anti-trust bill the senate committee will debate today. it was introduced by amy klobuchar and chuck grassley it has five republican and five democratic co-sponsors, including the chairman of the committee and the number two senator, dick durbin the goal is to prevent the dominant platforms from preferencing their own products and discriminating against their smaller rivals there is a similar bill in the house that's stalled since last summer but the companies are hoping if this proposal can make it out of committee today, that will renew the momentum in congress to try to get something done before the midterms back to you. >> how has big tech -- they have big money with big lobbying. how is big tech responding to all of this? >> reporter: brian, they hate this bill. they feel like the way it is

designed unfairly targets a handful of companies you need a $550 billion market cap, you need to be a critical trading partner to businesses online, so they feel like there is a big target on their backs right now. and one of the arguments they're making is if this bill actually does pass, it would make consumers lose some of the most popular services that these platforms offer, like an amazon prime with free shipping, like google maps, so they're fighting this tooth and nail. >> ylan mui, no surprise they hate those bill. get k street rolling thank you very much. have a great day take care. >> thank you. on deck, stocks fighting to put a halt to the slide. laying out why volatility is the new normal and what you need to do to your investment portfolio right now and right now we're

seeing a nice pop in futures they could get a thursday turn around they're higher by triple digits and we're back right after this. 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.

amazing. jerry, you gotta to see this. seen it. trust me, after 15 walks... gets a little old.

ugh welcome or welcome back. in his press conference yesterday, president biden tried to address the issue of inflation. it's on everybody's mind saying, quote, it's going to be hard for many families. he's talking about facing higher gasoline and food costs. so is inflation going away any time soon or will the fed have to raise rates a lot more aggressively than many expect? greg syrian is ceo and founder of syrian at hightower at the beginning of the show, jim o'neill basically said this, i'll summarize, it's easy to look smart in the stock market the last number of years because central banks threw so much money at everything, everything went up. i suspect you're here to say

with the fed about to raise rates, potentially a lot it is going to be a lot harder to make money in this equity market. >> thanks for having me back i did see the segment. not only was it easy to make money in stocks the last ten years but bonds. everything made money in a decreasing interest rate environment. we're in a paradigm. and i think investors need to embrace the reality of number one, much more volatility in markets like we've seen the last few weeks and muted returns, going back to a normal return environment where stocks earn 6, 7%, bonds 3 or 4, private investments are 4 or 5 >> so what do we do? if one of our viewers has 90% of their money in the qqq or some sort of faang index -- by the way, some of them probably have and looked smart, made a lot of money, congrats to them.

what should we do now? >> two important things to do, brian, number one, reassess your planning assumptions again, if you're about to retire, saving for retirement, are retired. those 8 or 9% return in balanced accounts we should focus more on a 4 or 5% return with the same level of risk and basing your saving assumptions on those same numbers. se secondly, embrace the volatility when we have peaks in january that's the time to raise cash, taxes, tuition, spending money, do your charitable giving, give to family members when markets are high when markets are low, like today, now is the time to add quash to equities, do the ira or roth conversions, now is the time to watch the loss hardest finally to your point on the equity allocation, this is not an environment anymore to put it in a retirement date fund and

set it and forget it we see too many investors still overweight in growth we've seen the dividend growth companies outperforming pure growth companies, that trend we believe has legs and these emerging markets that have underperformed, we believe those are staged to out perform as well >> looking at value as maybe the new growth at least for your wealth and emerging markets. greg, we appreciate your views have a great day thank you very much. >> thank you folks that does it for us here on a busy "worldwide exchange." we will see you at the same time on friday. a lot more to do squawk and the gang picking up coverage ertures, they're up. the you go glad you're up see you tomorrow take care.

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good morning, stock futures look to rebound after yesterday's selloff pushed the nasdaq into correction territory. that's 10% down. we'll show you what's moving this morning president biden says he's going to pursue a scaled back version of his domestic build back better plan. we'll tell you which parts of that bill have the best chance of passing plus, united airlines said the omicron variant is taking a toll on its bookings. we'll dig through the numbers and bring you a first on cnbc interview with ceo scott kirby it's thursday, january 20th,

2022 january 20th an important day every four years. "squawk box" begins right now. good morning, everybody. welcome to "squawk box" right here on cnbc i'm becky quick, along with joe kernen and andrew ross sorkin. and boy, what a start to the year this has been down day for the markets across the board yesterday with the do you off by 1%, the s&p off by 1%, and the nasdaq down by 1.1%. at this point the declines are really starting to add up. you can see green arrows this morning, but if you've been watching the nasdaq composite or the nasdaq 100 for this year, wow, big losses. you are talking about the nasdaq down by 11.5% from the high it hit on november 22nd nasdaq