it is 5:00 a.m. at cnbc. here is your top five at 5:00. investors ready to slam the book closed on january. where do we go from here stocks fall and oil on the rise this year. another big week for russia and opec monday morning deal news cloud computing company set to go private. spotify set to fight covid

misinformation as more musicians pull songs in protest of the platform. super bowl lvi is set. it is like the 1980s all over again as the rams and, yes, the cincinnati bengals will faceoff in l.a it is monday, january 31st this is "worldwide exchange. good morning, good afternoon or good evening. welcome from wherever in the world you are watching i'm brian sullivan good to be back. hope you had a great weekend let's get going after the wild ride i was going to say last week it is a wide ride in all of 2022 last week. the dow with the biggest weekly spread from its highs to its lows in more than a year with the monster rally on friday, most indexes ended week

higher hard to believe, but they did. we are not getting a lot of help futures, maybe i shouldn't jinx it they are calm. a mixed trade. nasdaq futures are up. you have earnings this week. they will be the primary focus along with tension over russia and the opec meeting tomorrow as well on this final day, this january 48th, here's where we stand for the year russell 2000 small cap down 12% this year nasdaq 100 lost 11% this month s&p 500 and the dow are faring a little better. overall, it has been a brutal month. as goes january, so goes the year you hope not let's hit oil. it's had a great year. crude oil prices are on the move a tick higher. down from the peak overall

bonds are not doing much up slightly. in the oil market, they have soared i'll say it for the third time in one minute of the show. opec will meet tomorrow. we will see if prices press that group to increase the planned output they are on pace to add 400,000 barrels a day every month until they get back to pre-covid levels they stuckwith that. price of oil risen we are creeping back toward $88. we are over $90 in the european trade. natural gas had a big week last week i'm sorry to say your heating bills will go up if they have not already. let's go around the world. markets in china and south korea were closed for lunar new year's eve. we have julianna tatelbaum out of the living room and back in the london newsroom. she joins us now

julianna, good to see you back in front of the big wall >> reporter: brian, it is good to be back more exciting back drop than my living room. brian, i have been welcomed back to the studio by a strong start to the session green across the board after last week's difficult week for european markets we ended 2% lower. worst week since november. the gains are broad based. germany and italy with gains italy with political stability preserved after president mattarella elected for the second term. ftse 100 is the clear out p performer. ftse 100 in positive territory and the rest of europe traded lower. from the sector perspective, we see technology shares.

that technology up 2.7%. selling in basic resources and oil and gas under performing a big week for central banks in europe bank of england on thursday with economy hists increasingly exped to evenngage in the first back-to-back rate rise on thursday we have the european central bank where the president of the ecb is expected to reiterate the economic situation is different in the euro than in the united states and here in the uk. brian, back to you >> julianna tatelbaum, thank you very much. good seeing you. now some of the morning's top corporate stories. silvana henao is here with me. >> reporter: good morning. spotify will add content advisories with material mentions covid this is as it is facing backlash

to continue airing the joe rogan podcast. neil young and joni mitchell and bruce springsteen pulling their music off the service. this is an out-of-control juggernaut and said he would offer more balanced perspectives in the future. and citrix is near agreement to be taken private. management's private equity arm is near a deal to pay $104 a share for the software company or $13 billion and cathie wood is buying more robinhood. purchasing 2.4 million shares friday the firm is a top shareholder. robinhood dropped below $10 a share on friday following disappead

disappointing guidance brian. >> silvana, thank you very much. let's get back to the markets and your money would you like to super size that rate hike for just another quarter? over the weekend, atlanta fed president bostic made waves by interviewing with the financial times and saying it is possible that the fed could raise rates half a percent in the march meeting. bostic is calling for the three increases this year starting in march. he adds ever option is on the table an let's bring in mark haefele. mark, it is good to see you. we he need your guidance it has been a rough year so far. we start with with the federal reserve. could they do that raise by half a percent in march? if they did, would it matter

does it matter to you and how and when they raise rates? >> ultimately what will matter is when we reenter the period of more normalized growth is because inflation comes down and the picture improves on its own or forced by the fed what they do with one meeting is not going to matter. certainly they go out at the start with the basis points and we see a little bit more volatility ahead you said the main message they put out is that everything is on the table and they're going to remain flexible. i think that's why the market kicked off with earnings and the employment cost index coming in below expectations so inflation is key >> you do wonder what inflation is and how it plays out, mark.

how do you see the whole thing we care about fed rate hikes if you are borrowing money and want a mortgage, i get it. they matter to the stock market. i get it the tapering or the balance sheet is more important than the rate hikes in the near term. we'll see. what are you advising clients to do we are all facing this uncertain world as far as the united states goes where we're down 7% to 10% on major averages in 21 trading days. >> i think the most important thing is for investors not to panic over this period we're trying to put it in context and say we had a period where the ten-year rate has risen quickly. that tends to cause a pull back in stock market when it rises that quickly we're also in a period where, you know, we have come to six months after the fed starts to

hike rates that's not necessarily bad for equity it's a signal that growth remains strong and all the fed does happens with the lag. there's probably still some room for appreciation into the end of the year that's a key message for clients. >> quietly, the european markets have done better on average than the u.s. markets despite the energy crisis there and other concerns are you more bullish on europe or maybe other parts of the world than you are in the u.s. right now, mark? >> i think this is really a time where you have to go more into sectors and regions. we like europe more. we had that on for some time because it is more levered into local growth and that cyclical pickup that we think will happen

out of omicron we're looking at the eurozone and we're looking at energy and commodities right now and more on value we still think there will would be global growth this year and that's where we want to play it. >> global growth and energy and commodities. mark haefele, thank you very much take care. all right. we have a lot more to do with when we come back, more on russia and how the u.s. senate could be days away on a deal on sanctions. what this could mean for energy and to the auto sector stay tuned a very busy hour ahead futures are mixed. we are back right after this

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welcome back the u.s. and russia preparing for a diplomatic confrontation of sorts at the u.n. security council meeting today. our ambassador to the united nations saying russia will have the opportunity to explain themselves the top democrat and republicans on the senate committee want to move forward this week with a sanction on russia let's bring in daniel tannebaum. he has been on the show many times. daniel, good to have you back on first off, can you layout what the threat is?

we know russia is on the border of ukraine they have been there a long time now. this is not a new thing. they invaded crimea during the winter olympics in sochi in 2014 what do you see as the perceived risk level right now >> thanks, brian it's good to be back this is to be clear of russia's creation they are claiming the west is infringing on their security an moving the troops to the border with ukraine at 120,000 with the threat that they are looking to attack the country at this point, you know, this is not first time we have seen a build up like this obviously 2014 with crimea annexed. it seems president putin is looking to exert a kconcession

he is not able to leave the border without achieving something to spin domestically as a win >> do you think there is any sanction that we could do that would dissuade him from doing what he may or may not already want to do >> so, i think this is one of the greatest examples of multilateralism of being back with the u.s. and allies and the restrictions of trading russian bonds and oligarch sanctions there is a large number of sanctions threatened they have only been threatened at this point and not giving any justification to further invade in ukraine

this is a tension moment you can't impose sanctions because that could give the russians justification to move in that being said and the president of ukraine takes the position and what good are sanction if you impose after they move into ukraine as we saw with crimea in 2014? these are significant restrictions that have been threatened to really cut russia further off from the global economy. sanctions have not had a great track record of changing putin's behavior >> he has had the russian economy and russian people suffer for what he wants to do russia needs access to western capital. they need access to u.s. dollars. is there a way where we could make that hard enough that it might change his mind if it needs changing >> what we're seeing now and there has been talk of cutting

offthe russian economy from swift. that is not an avenue that will happen essentially any legal business or legal commerce allowed to occur with russia and any other country, no one would be able to get paid for goods or services the focus is on significantly curtailing the ability for the russian banks to have access to the global economy designating the major banks on the u.s. and eu and uk sanctions list it would essentially ban them from any sort of activity. these are significant. also as you continue to look for the energy availability to supplement russian energy access just further takes away the leverage that russia has especially with the europeans willing to shutter nord-stream ii >> that's probably ultimately what this is all about looking to get that thing.

it is finished, but they want it up and running and more permanently tying themselves to the germany energy market. daniel tannebaum take care. thank you. most of the world is starting to work toward living with covid, not china. a live report coming up from beijing on the extreme policies there and how they are starting to wear on that population today, business is a balancing act. you want your data to be protected and secured. 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.

welcome back to "worldwide exchange." hope you are having a good monday morning many people here argue about kids wearing masks to school, but it is nothing compared to china. you heard of the zero covid policies you may not know what it means let's show you eunice yoon is joining us from beijing for the answers. we heard of entire cities, eunice, going on lockdown. >> reporter: that's right, brian. you know, china enjoys a low infection rate as a an country but the individuals suffer for lunar new year, the video is going viral with criticism from the authorities. a grandfather over the last minute decision forcing his

grandchildren to turn back just as the world is weary living with covid, the beijing policy is zero covid. lines for covid tests mandated by authorities you have to stand in this line to register and another window to pick up a kit and the third window for the test. not only testing, but tracking is taxing, too most places, cabs, require you register through a health code on the mobile phone to get in. drug stores store the personal purchases for fever, sore throat or infection with the authorities. if you buy those medicines, you receive a government alert so your health code won't work until you go for another covid test lockdowns of buildings and late night visits rounding up

residents for covid tests are common staff is instructed by local authorities to put up notices to make sure people get tested. this household has been told to be tested twice in three days. online, people are complaining about children taken to hospitals without their parents. chinese authorities argue the tough measures are necessary for a country with 1.4 billion people at the same time, the leadership is starting to show signs it is concerned about the grumbling. the top health authority over the weekend has set up a public messages board, brian, where people can complain about local officials who they say are blocking them from going home for the holidays for the lunar new year holiday >> these are incredible stories, eunice i understand that there are things you cannot talk about the broadcast that we're doing

right now is probably being monitored. we had been blacked out in china for less things on this. i won't put you on the spot. i understand they are watching you. you are outside with your mask on you are doing all the right things is there resistance? not state media. alternative media? social media i know it is an authoritarian re regime are people pushing back? >> reporter: absolutely. people are pushing back. there are voices of frustration we see on social media where somebody will post a particularly egregious situation and involving a hospital not allowed to go in losing a baby for example and a lot of reaction online about that eventually that does get

censcen censored we are seeing some reaction from authorities, but it tends to be the lower level polla politicias that get in trouble. >> you have a different vaccine than we do i heard stuff. this is all hard to get good information out of the chinese government how is the vaccine seen as working? this is the point of the vaccine. we know it will not stop the spread everybody i know is vaccinated and has gotten covid it is supposed to reduce the severity of the outcome. what is the chinese vaccination situation? >> reporter: well, the situation is that there is an effort to try to create different boosters like mrna booster to be added to

the chinese vaccines already out there. the population is about 90% or so vaccinated according to official numbers what is interesting is that even though the chinese government will point out that these tough measures are needed for a population of this size, there are other people who say that it is not only the number of people, but the lack of medical resources to be able to handle all of those people if you had percentage wise the same number of people who got sick from omicron for example. then also health experts say the vaccination program is not on par with the u.s. or many other western nations. they won't tell you that publicly they will tell you that privately. if you think about how officially the vast majority of the population here is vaccinated, we don't know how effective those chinese vaccines

are against omicron. you could potentially see a huge number of deaths with the health care system completely ove overwhelmed if china steps away from the zero covid policy the chinese authorities and health experts say the chinese authorities need an off-ramp so far, there isn't one immediately obvious. >> that's it it is not the policies as well as the off-ramp that leaders everywhere here, there, everywhere. here is what it takes to change the policies i can't imagine your kid gets a sore throat in shanghai and you are afraid to go to the pharmacy because if you buy the medication, you are popped up on a list and you have to wait in line with an asymptomatic positive eunice yoon, thank you we love you. be well. the winter olympics are starting

in a few days. let's get a check on the other top headlines outside of the world in business. frances rivera is here with more good morning >> good morning, brian a brutal weekend blizzard slammed the northeast. extreme weather is blamed for four deaths in new york. a foot of snow fell from maryland to maine. thousands are without power in massachusetts and on cape cod and the shore. it was the largest snowstorm recorded in boston. north korea with the latest missile test the intermediate range missile reached 1200 miles before it fell in the ocean. the u.s. has condemned the test which is the sixth so far this year. super bowl lvi is set after a conference championship sunday for the ages >> third down and one.

stafford end. kupp touchdown, rams. >> rams erased a 10-point def deficit. jimmy garoppolo's pass picked off and the rams win 20-17 they will be the second team to play a super bowl in their home stadium. for matthew stafford, the super bowl appearance was a long time coming >> you know, i feel blessed to play in the league for as long as i have. i sure am happy for the opportunity not only myself, but so many guys in the locker room that deserve this. >> the defending afc champion chiefs had an 18-point lead in the first half, but the bengals tied it up at the start of the fourth quarter the chiefs had the ball first in overtime only for patrick mahomes to throw an interception that gave the bengals to end the

game on any score. >> 31 yards. mcphearson cincinnati is headed to the super bowl >> the bengals take it 27-24 bengals fans partied like it is 1989 they look to bring the lombardi trophy to cincinnati for the first time ever in the first super bowl appearance in 33 years. it will be a showdown in sofi stadium for super bowl lvi stafford and burrow battle it out in 13 days here on nbc brian, did you take the next day off? either way, late night for us. last night, anyway >> we have to stay up and plow through the day. i'm happy for cincinnati my wife went to high school in dayton not cincinnati close. i haven't heard much about the bengals since i was in high

school i said because they have not done anything since you were in high school. i'm happy for cincinnati awesome. >> all right >> see if joe kernen, the host of "squawk box" is there we have a monday mystery chart coming up. one sector etf is down 25% since september. it has lost a quarter of the value in four months a frequent guest of the show calls it the most oversold in 20 years. what is that we'll show you coming up stick around i'm 53, but in my mind i'm still 35. that's why i take osteo bi-flex to keep my moving the way i was made to. it nourishes and strengthens my joints for the long term. osteo bi-flex. find our coupon in sunday's paper.

all right. welcome or welcome back. let's get a check of the market fu futures. we are seeing a calm morning final day of january, thank goodness is there any month as long as this month i don't think so the final day of january thank goodness maybe we end on a relaxed note anything relaxed for the markets. nasdaq futures up a tick s&p down it has been a roller coaster ride we ended the week higher last week a rough start to the year. if you are not keeping score,

don't worry. here is how it looks for the major averages small caps whacked. s&p down 7%. the dow held up the best i say that tongue-in-cheek with the decline of 4.5%. a new week and month might change that. going into the break, we teased you, as we like to say in tv with a mystery chart a major sector etf it lost a quarter of the value in four months the answer the ibb biotech etf. matt maley saying it is the most oversold he has seen he is noting it is wildly over sold on many different tec

technical. ibb is one to watch in the weeks and months ahead with the nasdaq and widely owned technology and purely bio-tech stocks down this year, what will it take to turn it around earnings something else speaking of earnings, you have facebook, amazon and google set to release this week let's dive in deeper joining us is james cakmak james, great to have you back on to what do you ascribe the weakness and what do you think it will take to turn the weakness around if anything? >> sure. i think it comes down to two things the first one is a simple one which is a high pe multiple stocks got crushed with the traders hammer those names on the down side. then the more sophisticated

reason is i don't think people fully discern exactly where revenue growth will land after we anniversary all of the covid bumps we saw for these tech companies. netflix, you saw the dramatic pull forward in demand and slower this past quarter where do things land on a normal basis? our position is everything will revert back to the trend line back where we were before pre-covid. a lot of investors, perhaps, aring thinking the slower growth we are seeing as of late is the new like to look at day-to-day moves on cnbc some people criticize us for it. i get that that's a fair point because if we pull back and we look at five years and i don't want to say

five years is long term, but these days, james, it is a long-term investor the nasdaq has more than doubled in five years. i mean, if you just bought the qqq and let it ride, you made a boat load of money a pull back should not only be expected, in my view and i've been doing this 26 years, it should be welcomed >> yeah. i think 15% or 20% drawdowns are not out of the question. especially in midterm years. i think the challenge now is the speed of the drawdowns and how strong they are. you know, what happened over the course of the period of many, many months happens now over a period of six weeks. it is very, very difficult to position portfolios for that when it is happening in the blink of an eye.

we think and i'm positively speaking that we are near a bottom here because of the fact that the drawdowns we have seen and highest quality names out there 40%, 50% and 60% in a matter of weeks is oversold. one of the technicals is the nasdaq is 200-day moving average. that is a percentageoff where it was on that ratio at the covid bought tbottom we think there is an opportunity for 2022 to be a good year the sales will move forward with the rates and economy and treasury's balance sheet the fed balance sheet. >> it is well said we talk about market structure that goes to the algorithm

traders. it comes back. james cakmak, i appreciate it. have a great day and week. thank you. bullish on the market. coming up, the big business behind the nfl's big game and why the bengals may be a big help to one best buy can they use anymore "bs is this wordle will he or won't he? the question if brady is hanging up the cleats. stick around (vo) for me, one of the best things about life is that we keep moving forward. we discover exciting new technologies. redefine who we are and how we want to lead our lives. basically, choose what we want our future to look like. so what's yours going to be?

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welcome back in football, it is feeling like the 1980s all over again you have the bengals and the rams in the super bowl sweet bengals-rams parlay that may have paid off over the weekend for people it is not just the game of football that made news in football with back and forth of the future of tom brady. let's bring in jabari young. sports business reporter jabari, it is interesting. a adam breaks news every week. he said tom brady was retiring the web site led with the story. then reps for brady heard that and said we're not sure yet.

what exactly is going on with the tom brady drama? >> reporter: good morning, brian. what is going on is this is one of those things that, you know, maybe people jumped the gun. maybe we he e jumped the gun i went through the season this would be his last year the same with ben roethlisberger it is okay i spent sunday afternoon looking at tom brady's interviews to capture moments in his career. one of the things that stood out was the 2015 interview after defla deflategate. he was calm, but you knew he had more to do you look at the resume he is 44 years old and first in pass touchdowns and pass yards he is behind peyton manning in c comeback game winning drives what more can tom brady do i don't think he can do much more you look at this as the end. he deserves to come out and say

it the way he wants to say it. he has entertained us for so many years it is the one thing i would think he should get the freedom to decide to hang it up. at 44, he is a dad you think he should be able to crossover. >> nothing has been said yet we will see if he confirms the espn report. we had the numbers up on the big wall at cnbc, jabari, about his earnings i say this with love and affection angd jealousy you cannot watch a commercial series on tv without watching peyton manning on for chips or insurance or whatever peyton manning is banking coin tom brady has to be getting up there with peyton manning

earnings has he surpassed peyton manning? >> i think he is getting up there with it. i think we knew peyton was the favorite quarterback there is a narrative once peyton manning retired, ratings went down a little bit. we all love to watch peyton manning on sundays tom brady is right there one of his interesting deals is the crypto platform he invested in he and his wife. he aligned himself for the future tom brady goes with a company and meets with the ceo to look and see what is going on and what do you have in mind and what is the future he is very detailed. the same on the field, he is off the field. he will be great i'll be fine listen, one of the things i think one of the things that stand out is politics. will tom brady run for office one day? can he gather the votes? i would vote for him

>> can he gather the votes he probably is a senator right now and we don't know about it jabari, quickly. moan and groan cincinnati i think it will be good for ratings. it's a small market. so what? they haven't been to the super bowl in 40 years a big deal new names. new blood. >> i was rooting for them, brian. i was tired of the chiefs winning. joe burrow two years removed from the college championship and now to the super bowl you have the l.a. rams i know he st. louis isn't rooting for the rams the bengals. this is a great story. the team historically, we expect the bengals to come up short in the regular season or playoffs the fact they are in the super bowl is a great story. this is a great run to the nfl season especially with the playoff games.

go cincinnati. >> i know. by the way, listen, i grew up in l.a. people don't care about football there. i'm a chargers fan i'm man enough to admit it it's tough there will be more orange and black in the home field for the rams than blue and yellow. mark my word, jabari everybody in cincinnati has booked flights out of the city today. jabari, thank you. i appreciate it. get some skyline chili and wake up. did you think coal was all but gone think again. surprising power spots in the morning rbi. i'm joined by tiffany mcghe e. stick around to realize their ambitions. getting your money right requires more than a financial service provider. it requires a partner that is there for every major financial decision in our member's life and all the days in between.

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today's most random but interesting thing is about power. not political power. power power as electricity and

how the world makes it the international energy agency is out with a new report on global electricity supply and demand there are fascinating reports about that topic it is interesting and eye opening. the paris based group found global electricity demand surged 6% last year that doesn't sound like a lot, but it is. the biggest year after year jump since the financial crisis how is the world fuelling the power needs? believe it or not, it is coming from that stuff. coal the year over year growth in electricity generation around preside the world. natural gas up 2%. nuclear up 3.5%. renewables is up 6%. coal is up 9% around the world that's right coal it met half of the total increase of the global power demand last year simply incredible.

it probably explains why co 2 emissions also rose 7% that's not all from the report we have been talking about the europe energy crisis came home to roost iaea added average whole sale electricity prices in the fourth quarter last year were four times as high as the 2015 to 2020 average four times it's all because parts of gas soaring due to russia and high coal rises because of china. russia-china coal what year is this? it sounds like a real cold war random, but interesting. back to the broader markets and your money joining us now is tiffany mcghee are you not laying all your clients money on coal stocks, tiffany. tell us, my dear, what are you

doing? what should we do? a venervous year so far. >> it has. especially coming off the year that we just had when you look at how we ended 2021, 70 record highs in the s&p. sixth best year for the u.s. stocks since 1990. the three-year stretch of double digit returns. compare that to the start of the year, it really should give you anxiety. however, you know, although things have changed in the markets, the fundamentals stayed the same we have strong corporate earnings the market has not really been rewarding those earnings reports. consumer balance sheet is strong we have a strong fundamental back drop. going forward, i think investors need to understand that this is not necessarily a buy the dip gain

this is a planning game. this is an asset and allocation game think about how you want to positionportfolios i'm looking at a couple of things the first is alternative investment if you have fixed income in the portfolio, the equity position is probably down adding alternative investments reits. the warehouses that amazon needs to get your items to you next day or in some cases same day. things like that are really interesting. the industrial needs have a relationship as well go ahead >> does that mean like a warehouse type situation industrial reit? something you buy? >> absolutely. companies that are in the business of owning warehouses and renting them out to

ecommerce companies like amazon or all of the companies shipping our products because everyone is ordering online. reits have a lower correlation to equity. they work double duty. they can also be used as a good alternative to fixed income and good in the high inflation requirem environment. >> make me an honest man, tiffany. you have a tech play we don't have much time left paypal >> not under the radar consumer demand is really driving mobile payments. also, really remember paypal owns venmo think of the person-to-person money transactions we're doing right now. i venmo people at least once a

week i think this is a good opportunity to buy paypal at a discount it is down 14% year to date. its high was $310 back in july it's a good time >> if it was under the radar, it isn't now. tiffany mcghee, have a great day and great week thanks for getting up early. talk soon. take care. one down four to go this week thank you fort tuning in to "worldwide exchange. i'll see you torw.omro "squawk box" and the gang picking up the coverage next take care.

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good morning welcome to the final trading week of january. we'll get you ready for a full slate of earnings and a jobs report on friday that the white house says could look strange. cathie wood is doubling down on robinhood as the stock plunged on friday. details ahead. spotify responding to the joe rogan and content change plans. it is monday, january 31st, 2022 "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc i'm becky quick with andrew ross