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stirred. it is your morning rbi on this tuesday, february 8th. this is "worldwide exchange. good morning, good afternoon or good evening. welcome. as always, from wherever in the world you may be watching, i'm brian sullivan thanks for joining us. it is looking like a nice pop on your tuesday stock futures are higher across the board. the major averages all up .3%. not big numbers gains. we are in the green. all this after a rare quiet session for stocks on monday with the dow which rose exactly one point. nice to not have volatility for once this year all right. bonds have been on the move. ten-year continues its creeping march toward 2%. it is yielding over 1.9 right now. oil is backing off just a touch.

still over $90 a barrel. well above where it was weeks ago. get ready, you know, to pay more at the pump. gas futures coming off the highest since september of 2014. in crypto, bitcoin is moving higher it is just over $44,000 right now. the big moves are coming from overseas european markets continuing to out perform ours nice gains from across the atlantic let's get more from rosanna ros lockwood >> reporter: good morning, brian. ftse 100 up by .50%. the cac dropped off by 1%. the dax in germany the spain out performing this morning. we had madame le garde pouring

tepid water on this saying it is premature. the market is taking a breather. let's look at some of the sectors and what is happening there. interesting moves. banks performing well. interesting with the provision profit falling in france those shares are falling this morning. however, you have basic resources up above 3%. it is with one to watch with the ukraine and russia tension tech below the flatline. down 1.5%. energy, all eyes on oil. the tight oil supply market that brian mentioned. bp reporting earnings today. the uk posted the biggest profit in eight years as oil and natural gas prices surged. $12.8 billion profit marking a roaring comeback after a $5.7 billion loss in 2020 when the british energy giant had to

write off the fossil fuel assets bp up 1.5% in london this morning, brian >> big numbers starting to pop from oil and gas rosanna lockwood, thank you. and now soft bank is blaming regulatory challenges. s softbank will move to plan b for the holding within the year which ends the end of march. softbank and nvidia announced a deal last year and would be the biggest merger ever. regulators started sounding the alarm with chips made from everywhere in the world. joining us to talk about it is raj. welcome back we normally would not talk about

a deal like this, but this is important given the supply chai right now. what does a significant regulatory challenge mean? >> it means the transaction, which everyone thought in the beginning was going to be hard to pull off. eu and uk and u.s. worried if this deal should go forward. the media was picking up part of the supply chain could give it power over customers the customers arm. this created an existential threat from the outside of the deal that nvidia would supply the chip designs to the competitors and whether they would be cut off from the access if it held obviously, it comes on the back of incredible boom of the share price over the course of the pandemic as we come out of the pandemic,

it let off a bit nvidia jumped to the front of power and technology leapfrogged intel in the u.s. in the stock market this is the flexing of the ceo and it has come undone and many people said this was clear from the outset this is the outcome >> it is not just here in the united states. the uk deals regulator cast doubt on this as well. this is interesting that the companies would push forward to the point you just made. any lawyer worth his or who are salt should advise them this deal was doomed from the start >> from softbank's perspective, it was a risk worth taking they owned a.r.m.s since 2016. they really have not succeeded in advancing that company. they made commitments to the uk they held about growing work force and keeping identity of

a.r.m. when they bought it, it was the time of brexit and the uk had a crisis they will pawn off assets to the foreign buyer. it shows the world there is commitment there it is not good at operating businesses this fits with the broader narrative about selling down the controlling stakes think of sprint and t-mobile this has fit into his desire to own stakes in businesses then he comes along with with a cash stock deal with upside on nvidia shares. it was agreed at $40 billion. they reached $80 billion for shares now a $66 billion deal today masa was taking the option on the nvidia shares and thought it was good to get. they necessitgotiated the fee ae walk away $1.2 billion

their lawyers are quite happy with the outcome m m masa son would be happier with the outcome. >> a big deal or i guess not a big deal in the works. the deal is the ipo. good to have you back on thank you very much. i appreciate it. >> good to see you, brian. we have to go. we have breaking news on peloton's big news wall street journal reporting that john foley will be stepping down at ceo. he will be on as executive chair with the company the company saying the former cfo of spotify, not netflix, will become ceo and president following foley's exit it is not just about executive changes. a lot of cost cuts peloton will cut 2,800 jobs. that's 20% of the corporate work

force to try to also cut costs as well. big changes there coming from peloton. c co-founder john foley who founded peloton to much fanfare will leave as ceo. he will stay on the board. another ceo coming on with cost cuts this stock was $162 a share in late december of 2020. everybody was talking about peloton. stay at home play at home work from home stock soared it is now under $30. that's including a 20% pop yesterday on news the company may be sold. it is down a touch in the pre-market john foley is out as ceo a lot of hedge fund pressure on that stock. when we come back, more on peloton and some of the morning's big money movers including cathie wood. unloading one stock as they

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welcome back time for the big money movers. this morning, it is inflation.

we're giving you four, not three stock tstories. stock number one take-two it fell short of estimates for the fourth quarter shares are down 2% right now the conference call, stauss zelnick said the stock in the video games is dead. and stock number two chegg came in above fourth quarter expectation. the school work picked up and it makes sense. school work up video game playing down. amazing what happens when kids go back to the classroom and gets off virtual stock number three is sysimon property group beating forecast. everybody is out shopping. the guidance for the year is short of estimates stock down 2%.

the bonus stock which is stock four bye-bye twitter. ark invests ceo cathie wood sold 4 million twitter shares yesterday. that is the most since may that stock is flat back to the broader market and money. stocks overall with the trend with the intraday swings the next guest says bullish sentiment says it is low for the week, but history shows that could mean gains for the market. ryan payne of payne capital is with us. ryan, what sodo you see >> i love being the contrarian, brian. that's been the story having been on the show the last two years. the sentiment is never that bull

i bullish. you see the negative sentiment in 2020 after the pandemic and stocks sell off 40%. obviously investors were jittery. we are seeing the same thing right now. to me, it is juxtaposed against an economy that looks pretty high the labor market's on fire, brian. we saw 467,000 jobs created on friday which was way more than expected we are seeing wages going up significantly. i also think it was remarkable in the news on friday. productivity report. productivity up 6.6% that means companies are becoming more efficient. labor shortage will be a problem for a long time. it is no secret. companies have to figure out automation and technology. i see the trucker shortage and automation all coming down the pipeline. >> fair enough as we know and as you know the

economy and stock market are not the same thing they're different things yes, the economy is doing well, but the stock market is facing higher inflation, higher rates, maybe retail traders who got burned in the drop out this year and dropping out entirely, ryan. how do we square the economy and market >> that's a great point, brian it is the tale of two markets. as rates are going higher and they are going higher. inflation is real. the fed didn't tell you the truth. you have seen growth stocks take significant hit here at the beginning of the year. you mentioned cathie wood. you mentioned peloton, a glorified nordictrac value is barely down for the year if you look at your traditional inflation hedges we managed energy on the show.

that energy stock is going through the roof right now if you look at commodities inflation hedge. they are up for the year i think it is important here that you transition your portfolio. growth stocks don't do well with inflation going up cyclical stocks do well. we have a very euphoric consumer we are coming into the time where people are saying forget the virus. i want to go out and live. that is doing well for the economy. >> we're starting to see the mask mandates come down as well. it all feels like we're coming out of this. in the northeast ryan payne, the optimistic view on tuesday it's cold and rainy here thanks >> i'm here for you, brian. we have more to do on tuesday morning. you are very welcome, ryan still ahead, why it is not just the players hoping to score big

in the super bowl. ahead, contessa brewer is here with new numbers with just how much all of you out there are expected to bet this sunday. these are big numbers and big money brewer is here to bring them to you. stick around (vo) america's most reliable network is going ultra! with verizon 5g ultra wideband now in many more cities so you can do more. hey, it's mindy! downloading a movie up to 10 times faster than before. oh, is that the one where the mom becomes a... (mindy) yep! (vo) i knew it! let's work offsite.

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bookies from sin city and draft kings are all getting set. it could be a record-breaking turnout with on liline sports gambling contessa brewer is joining us with the numbers how big are the numbers, contessa >> reporter: are you ready for this, brian? more americans will bet more money on the super bowl this year than ever before. according to research from the american gaming association. predicts 31.4 million americans will make a wager. that is up 35% from last year. they will gamble $7.6 billion. that is up 78% from last year. why the giant increases? since last year, ten states have launched legal sports betting. that means 45 million more americans can wager in their home state than could last super

bowl in total, bettors can wager in 30 states plus washington, d.c. with three more states legalized it and not yet launched. one is ohio. home state of the cincinnati bengals. fans in ohio can root on their team, but can't place a legal bet on them at home. that's okay. neither can california fans of the l.a. rams nor any spectators at the actual super bowl research by sports handle suggests additional $400 million wagered on the game if those two states had legal, live digital betting. it presumes ten betting platforms and no major technical glitches, which is what the big sports betting names are hoping for, brian >> all right so let's talk about it first off, you know, if you follow me on social media, i'm 15 and 2 in last 17 bets and i

put them on twitter before i bet. if i was in cincinnati, like what is the closest state? illinois how far do i have to drive will we get to a point, conte contessa, where every state or most states will have sports betting? is that coming >> reporter: can we pull the map back up? we are in the united states where almost every american, even in a state where you don't have live, legal gamblgambling, could drive generally an hour and get to a place where you could gamgamble >> there's the map the map is up. >> reporter: look at ohio. you could go to tennessee or to indiana if you are in ohio cincinnati is on the border with kentucky kentucky doesn't have live gambling there's no going across the border there you could drive to either state border we saw that in texas when the infamous sports bettor mattress

mac launched sports betting. he made a $4.5 million bet on the bengals to win that's partly a hedge to cover what he's offering for a furniture promotion to get people in the door to buy furniture. he said it was worth 100-mile drive. he that's fly to colorado normally >> bengals, by the way, a lock at 4.5 to cover. you have to get the extra half point. here is my issue on the betting sites. i have a buddy that owns a sports gambling operation. who is winning the game, contessa it seems they are all promoting. come to fanduel. go to draft kings. go to caesars. is anybody making money? >> reporter: well, not yet it is coming we just heard from jay snowden

this week. they anticipate the inter activity efforts will become profitable later this year that ahead of competitors. we heard from gm and draft kings. this is the plan on being prof profitable every time you open up a new state, that requires a marketing expense. if california, with a retail sports betting issue on the ballot this year, but fanduel and draft kings are trying to get a ballot to legalize a mobile effort. if you see that happen, profitability will be delayed because they spend to set up and launch in california >> if you watch any sports, you cannot go one commercial break without an ad for jamie foxx for

mgm. unbelievable contessa, big money. you know i'll trademark big money brewer >> reporter: love it >> can you get in line and charge it back to my friend contessa brewer? >> reporter: go ahead. i like it. >> i love sports gaming. especially when we're winning. contessa, drinks on me straight ahead -- these are not small money bets like cnbc anchors. big bets there goes my hero the oo fighters are looking to steal the super bowl spotlight from the metaverse no, i wasn't going to sing it. the morning rbi and something is happening in the bond market that has never, ever happened before.

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all right. your money on the move higher this morning. stock futures on the rise as oil falls a bit. breaking news. peloton ceo is out major job cuts reportedly coming. and president biden warning the nord stream 2 pipeline could be threatened. could this go from bad to worse? it is tuesday, february 8th. you are watching "worldwide exchange" here on cnbc

welcome or welcome back, everybody. good morning 5:30 thanks for joining us. i'm brian sullivan here is how your money and investments look halfway through the 5:00 a.m. hour things could turn. dow futures up 42. about .2%. they are higher all this after yesterday's one point move for the dow. it seems nice in a way after the volatility we had this year to start the week cold and rainy in the northeast. take a breather. not just equity getting a boost this morning crypto coming off a wild session. it was volatile. bitcoin hitting the highest level since january 5th. it is down a touch bitcoin never closes and it is hard to say if it is up or down from any given point there is no point at which it stops unlike the market. take a look at the price

figure out where you bought it and you decide if you are up or down that's what matters. you. you matter we watch shares of peloton this is breaking news. wall street journal reporting that john foley is stepping down the cfo will step in and become ceo and president and join the board. and peloton is also going to be cutting 2,800 of the corporate staff. tough day for the folks who coped with the demand. peloton dropping plans for a new factory in ohio. peloton stock not getting a boost on that news now to the morning's other top corporate headlines. including peter thiel looking to exit from facebook/meta's board.

bertha coombs is here with more. >> reporter: brian, thiel making that announcement yesterday saying he will not stand for re-election in may the company says thiel and early facebook investor and friend of mark zuckerberg will serve on the board until the meeting. according to the report, he is focusing on his political agenda in the 2022 campaign cycle guess is reporting to the calls for the co- founder to leave the board. urging that paul and marciano being ousted accusations of sexual misconduct of women against paul and claims that maucian mauciano turned a

eye. and tesla is cutting steering parts from the cars to deal with the chip shortage. cnbc reported that the company excluded one of two control units in the steering racks of the shanghai built models. the sources say tesla employees decided against telling customers because the part is considered a redundant back-up this comes as tesla revealed it received a subpoena over selling shares brian, the s.e.c. is seeking information on the process of compliance with a 2019 settlement that agreement stemmed from another musk tweet on taking tesla private. that was the 420 tweet

>> yeah. 420. that number always seems to float around musk, bertha. >> reporter: it's in the air >> yeah. it's in the air! nice bertha, thank you. she beat me to it. to the continued crisis in ukraine and president biden stressing unity with the germany's new leader trying to avoid a war with russia. and meeting with chancellor scholz yesterday at the white house, they talked the nord stream 2 pipeline. the rest of europe has another big problem. growing fears of energy supplies natural gas which powers the electricity and heat needed in europe is at dangerously low

levels in germany. all because russia reduced the feed to germany. flows dropped 44% in january what happens if russia does invade ukraine moscow's strangle hold will cause nato allies to back off and risk the fuel? michael stoppard joins us now. thanks for joining us. an incredibly serious and important story. first, how bad is the storage situation for nat gas in germany? i heard it was under 5% of normal levels. >> thank you very much for the invitation to join you, brian. it is great to be on the show. this is a serious situation. european gas storage level and germany levels in particular are below historic levels. well below average well below minimum levels. this is a matter of concern and matter of great concern rattling

the market i should say we are already getting close to the middle of february the end of winter begins to be in sight as soon as the market can see an end of winter, that will provide some relief, i would say >> yeah. the weather is so key here because it drives so much demand the weather getting colder and gives putin more power because gas, which is an arm of putin's em empire, can adjust those flows if we see some kind of invasion in the ukraine, if the worst-case scenario happens, is the rest of europe neutered, michael? they have a strategic interest in their own citizens not freezing to death. >> first, i think it is worth bearing in mind that we here in europe are suffering high gas prices that has been the case for almost six months now.

>> oh, yeah. >> international gas prices are five or six or seven times the level in the united states that is felt by power stations and industry immediately private consumers have been somewhat protected those prices are beginning to make their way through the bills we receive on a monthly basis. this is a very intense situation. i think any cutoff of gas through the ukrainian corridor is manageable. i think it is really important to understand the importance of the ukrainian corridor is a way of feeding gas from russia to europe which has actually been declining over the last 20 years. year after year as we look for other groups of supplying russian gas and our sorurces. there are many other alte

alternatives. >> with all due respect to president biden saying that he will end the nord stream 2 pipeline for the viewers not familiar, it is a massive pipeline that comes from russia to the northern part of germany it is an addition to the current pipeline they have it is already built. it is not just operational right now. putin is desperate to get that going. this may be part of why he's playing games in ukraine does the united states or anybody, michael, besides germany, have the power with all due respect to our president, to stop the pipeline? are we going to blow it up what are our options >> the pipeline is built and it is ready to go it needs to go through the regulation process it is not formally authorized to go it is going through a regulatory process. it expected to take another six months or so

this has no direct impact today. the argument has great implications for how we see the relationships between germany and russia and between wider european and russia market it will be very important as we think about how to prepare for the coming winter. all parties of this side are concerned with the respect to con contractual law here >> michael, we talked about it a year ago one year ago, nat gas prices were low now is this a short-term or a long-term thing? >> it depends on how events on the ukraine border and between russia and ukraine pan out i think the underlying point the low storage levels you mentioned at the beginning, the low storage levels will be with us for a long time. it will be a long mountain to

climb to rebuild those stockpiles. >> tough situation there i'm not sure the options michael stoppard, thank you very much take care. >> you're very welcome. coming up, pfizer is set to report the results in the next hour we will speak to a top analyst that her firm has over raising target on pfizer is it all about the vaccine or something else as we head to break. other key headlines. allegiant facing a shakeup the ceo will step down he will remain chairman and replaced by the president john re redmond. the biden administration will lift the tariff on the japanese steel this is fueled by incredible demand and supply constraints. and the foo fighters are set to stay the stage at super bowl

sunday but in the metaverse. they will play the concert after the big game and reveal a brand new song from the foo fighters a big marketing stunt there. will it work in dentlastk cerand icaround we're back in a moment

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welcome back it's 5:43. pfizer earnings on due out in an hour expected strong revenue for the quarter based on the strength and covid vaccine rollout as well as anti-viral drug. analysts will watch for what the company is forecasting as they look ahead when covid goes endemic. let's bring in louise chen of cantor fitzgerald. not to get into the medical part of it, but is it an annual shot for millions of americans forever? >> i think it is going to be an annual shot for the foreseeable future what we know right now is immunity from the covid vaccine and also immunity from natural infection don't last forever annual or some schedule will be important over time. there are populations in the united states that are either very young or old or

immunocompromised that would benefit. probably see something similar to the flu rollout over time >> it could be a situation, louise, we go to walgreens and get a covid vaccine shot and flu vaccine shot every november or something like that? >> yeah. i think we could see that. a lot of the companies are doing trials where they show it is safe to do both at the same time maybe over time, what the companies are anticipating is putting that together into one shot >> wow that's the franchise there's a lot of people that will say the whole thing is a money driven -- don't go down the rabbit hole of the twitter how big of a money generator is the covid vaccine? how big is it expected to be, louise how much money does pfizer actually make on it? 12 >> okay, that's a harder onion

to peel back the vaccine is partnered with biontech with pfizer right now it is 50/50. from the sales perspective going forward, this year, probably $36 billion. contract for 31 billion doses. going forward, it could sustain tens of billions of dollars of sales. people are looking for vaccine to be $8 billion of sales in 2026 a lot of upside for street expectation for the pfizer covid franchise. >> what about the anti-viral we don't hear a lot about it >> not yet we will. the anti-viral right now is over $7 billion of doses that are contracted not all is public. this is an estimate based on what we see publicly right now, consensus has it at $22 billion of sales i think this could be a big

product. similar to tamiflu or other products and the long shelf life, it could be stockpiled by governments. i think we will see that over time >> we forget because we have been singularly focused on the pandemic for the last two years. louise, we forget diabetes is up and obesity, depression. a lot of medical problems to come what about non-covid things for pfizer treatments for cancer? you could have millions of early deaths from cancer and diabetes alone. >> they have actually a lot there. i think that's not brought to the forefront because of the forecast us on the oral anti-viral and everything covid right now. they have a vaccine which is for adults and infants they have a maternal vaccine which has a product.

they acquired a company where the solid tumors and ma leg nancys that could be an irrelevssue they are expanding the mrna platform they will announce in the near future. >> we for are get. shame on us. a lot of really bad stuff that's also out there that we have to deal with. louise chen, thank you see you soon. on deck, your morning rbi and betting big on corporate bonds is proving to be a giant bust so far this year. our friend jeff kilburg will connect the dots and the market and inflation and maybe the cincinnati bengals kilburg is next. do you think healthier looks like? cvs can help you support your nutrition, sleep,

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all right. welcome back time for the morning rbi let's talk about bonds corporate bonds. stocks overall have had a lousy start to the year. just as bad on the debt side for investors. company debt bonds have been shaken and stirred in 2022. right now, the biggest bond index on pace for the worst year ever that's right according to charlie vallelo, look at this the barclays index we don't talk about it a lot index of investment grade debt the agg etf worth $80 billion. so far this year, it is down 3%. it hit a new 52-week low that would make it the worst if

we closed the year today here are the returns so far, that index is down 3.1%. in 1994, it fell 2.9 2013, 2% last year, it did fall in 1999, down under 1% i know 3% doesn't sound like a lot to you in stockville in bond land it is the villain. going back to win the index which was founded in 1977 when your trusty host was running around as a toe-headed 6-year-old, the bond market had four down years in 45 years. the ones i showed you, that's it that's why people and companies invest in bonds. they're perceived as safe and boring they don't go down much. not this year. interest rates are rising, but not just here, but europe and the uk as well which means our bonds now have global

competition for wall street dollars. to be fair, this is not a big deal yet a long way to go trillions in bond dollars on the line and it could become one and if it does, you knew it was random, but interesting before almost anybody else. our thanks to compound capital. let's bring in jeff kilburg and no doubt somebody coming in packing his own rbi this morning. i heard something about the bengals and historical reference you got. what is it >> let's give love to joe burrow this morning i'm rooting for the cincinnati bengals because i'm from the midwest, sully nothing against l.a. joe will be smoking a cigar after that game. if you look at 1992, the last year we had inflation to the extent we had. the forecast on this thursday, cpi forecast to be 3.7%. that was the last time the

bengals were in the super bowl a lot going on this weekend. no doubt this inflation is distracted with so much from powell and so much about the interest rate hikes. we are hearing it goes up every day. five hikes six hikes. i'm not in that camp, sully. i think it is a one-two punch. i see two to three hikes the first time we see a little bit of slowing in used car sales. inflation does come off. at the end of the day, ironic, sully, the fed is buying $30 billion this month it is almost chuckle like to see how the ship has moved so fast i think we are again back focused on earnings and earnings as dividends paying out and buybacks are happening the beats we have seen

it is optimistic and positive. i know there is a ton of volatility and the battle on sunday with joe burrow nonetheless, i'm betting and i know you have been betting on twitter a bit. let's have a stake it's been a while. >> winning i'm on your side 52-2 on fanduel. i laid money down. not real money bengals at 4.5 i love to see the bengals and joe burrow as a chargers guy i cannot get behind the rams jeff, yields are going up. they are watching and saying sully, it wasn't very good it matters. >> it does matter. look at hyg. corporate bonds. big slugs of money $35 billion in the etfs. they are down 4% or 5% year to date it is the velocity we talk about this on the show

the velocity of the bond move. i don't see the 10-year note going above 2% we have to digest the rhetoric the balance sheet at $9 trillion if they go back to the way they reduce the balance sheet back in late 2017, let's say they double it, sully, to $100 billion a month. they will still be at $8 trillion that an accommodation and liquidity has been revealed this earnings season. corporate america is flush with cash banks are flush with cash. this cash could cause problems when we pull it out. there is no way the fed is making a misstep it will not happen they are talking tough >> it is like that bugs bunny. the chicken hawk constantly bragging i can't leave the nest i think you are right, jeff.

we're on the same team if we get more than three rate hikes, i'll take you to dinner how about that >> all right >> i look forward to seeing you in person. kilburg calling the bengals and the fed chicken hawks. that does it for us here on "worldwide exchange. tuesday. worst day of the week. if you can make it through tuesday, you got this. "squawk" is next power e*trau an award-winning mobile app with powerful, easy-to-use tools, and interactive charts to give you an edge. 24/7 support when you need it the most. plus, zero-dollar commissions for online listed u.s. stocks. [ding] get e*trade and start trading today. yep, it's go time with wireless on the most reliable network.

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good morning stock futures are relatively calm this morning. it's quiet too quiet. maybe. we will hear from pfizer in about 45 minutes. shakeup at peloton the company's ceo reportedly stepping down to become

executive chair and it's hiring the former spotify cfo who pioneered that company's listing. nvidia's deal for holdings for softbank collapsed that is ahead. it is tuesday, february 8th, 2022 "squawk box" begins right now. good morning welcome to "squawk box" here on cnbc i'm becky quick with joe kernen and andrew ross sorkin who both got haircuts yesterday is that the case >> i did not get a haircut >> oh, you guys look good. >> i just styled my hair >> looking very nice >> i did not although, i like to think that i style it well every day. andrew you have good days and bad days. >>