it is 5:00 a.m. in new york. 11 11:00 a.m. in davos. nasdaq doing something for the first time in more than a year. turning point in china the first population drop in 60 years. growth also down what happened to the price of oil? self proclaimed the king of meme stocks picking a fight with the head of alibaba. and the bank earnings roll

on with goldman sachs gets set to report. rev. sorry, charge up your engines. milestone for electric cars in the world. it is all happening on tuesday, january 17th this is "worldwide exchange. good morning, good afternoon, good evening. welcome from wherever in the world you may be watching. i'm brian sullivan thanks for joining us on tuesday morning. let's get to your money on this holiday short week futures are a little bit weaker. down .10 earnings will be the driver today. most of the week as well all this coming off a good start to the year for stocks all the major averages are higher small caps up 7% this year nasdaq 100 up 5% speaking of the nasdaq 100, the index coming off the sixth winning session in a row

that, my friends, the longest daily win streak since november of 2021. you have to go back more than a year this move comes up as bond yields come down 10-year treasury is at 3.55% let's talk energy. whine i china is coming back as a bigger buyer. we will talk did dan yergin shortly. and india is keeping a floor under prices oil about ready to break back above $80 here it is nearly $85 overseas. natural gas is staying low warm weather hangs around the u.s. by the way, it was nearly 50 degrees in new york yesterday. actually worked outside in just a long sleeve t-shirt. i went back historically i could not find a day in 20 years on january 16th where it was that warm. wow. that warmer weather, by the way,

same happening in europe, has cut demand by a ton. that is why prices have fallen all of this is very good news for europe and their energy crisis they are using less natural gas. keeping those storage levels full keep your fingers crossed for warmer weather that is the variable in the world of crypto bitcoin and ethereum continue to move higher. showing on the screen the little bit down now remember, that is off nothing. bitcoin is back above 21,000 ethereum, excuse me, moving higher as well bitcoin with the sam bankman-fried fraud and ftx stuff. bitcoin has gone from 16,5 to 17 to over 21,000 in just a matter of a couple of months. we will walk through the asian markets. it was mixed overseas. japan's market climbed 1%.

everybody is watching the bank of japan kicking off the two-day policy meeting today. will they go in a different way? the key economic data from china. that country's gdp grew by 3% last year. that 3% number was one of the slowest growth levels in decades. listen to this new data showing that china's population actually declined last year. it was the first drop since the early 1960s. birth rates in china continue to fall a big story there. turning to europe and the early trade here we're not seeing huge moves. earnings will decide down .10%. sp speaking of overseas it is a big week in davos, switzerland. we get to kickoff our coverage

with the first guest which is steve pagliuca he is announcing his retirement and 34 years with the firm and the sercond largest airline and co-owner of the boston celtics. you may remember him from the visit at the garden a couple weeks ago. steven, great to see you we chatted in boston a number of years ago when you took a big investment in canada goose you are probably wearing one right now. that paid off in a masses sif way. c -- massive way congrats on your retirement. what is next you will not ride off into the sunset >> i'm not good enough at golf to do that i'll be investing. i'll be senior advvviser to the

firm i have a couple of sports teams. i got to see that. it has been a wonderful run. >> the celtics with the nba over .700 winning percentage will the markets be on a roll? higher rates and questions about china and europe with their energ energy crisis? how will deal making look in the next 12 to 24 months >> we are looking at three themes the first is the decoupling from china. it is not everything it is decoupling medical supplies and chips you see the chips act. they are putting money into making sure to be self sufficient in chips and medical

equipment. the second thing is pulling back of the money supply which we have more normalized interest rates. brian, most of our lives, interesting there rates have been 4% to 5%. this is a strange period since the crisis of sub-1% of the t-bill they are going back normal we will see more volatility in that i don't think we will see 1% rates any time soon. we have to get used to the interest rate environment. the whole energy transition issue is big that will cause inflation. we will have to build a second infrastructure for energy. i think we underestimated in oil and gas in the last ten years. those companies will be built because of the current financial situation. we have to figure out a plan with the government on how we achieve carbon neutrality, but do it in a way with people have heating. those are the issues in the next 5 to 10 years. that will impact the next couple

years as well. >> steve, we could do a half hour interview on those topics we will talk to dan yergin coming up about energy and oil why aren't they investing more money in producing more oil? if you look under the hood of the financial markets, tell viewers how difficult it is to obtain financing, particularly private financing, for big oil and gas infrastructure projects? there are so many regulations. that's not corporal america wining this is the office of the c comptroller currency is that a fair statement making it more difficult than it should be. >> it has been difficult for two reasons. they lost billions of dollars on the shale boom that caused a pull back with lending. secondly, we have to have

policies to have a balanced approach the general finance markets are tough because interest rates are going up prices really haven't adjusted down as much as they should. it is starting to happen people will get used to the new normal environment the banks are well capitalized jpmorgan chase and bank of america are strong we are not in that situation most of the money lost is in equity that will not have a multiplier effect >> that's an excellent point oil and gas was like the airline sector for a long time where capital went to go to get put in a hole in the ground. i was at the energy conference two weeks ago. so much optimism because in part people viewed it as a couple of hundreds of billions of dollars in tax credits and incentives that are sitting around.

how profitable is this for wall street i got the impression oil guys are becoming solar guys. >> the country needs to do it. you know, private enterprise needs to step up the government is doing the right thing making us have the transition the generation, the folks we hired are now more focused on the environment. we have to get this done it will cost money it is money we need to spend to save the planet. it will be a good investment it will be inflationary. you have to maintain two structures for a period of time. this is huge think about moving from oil and gas to solar and wind. it will take a while and big investments and infrastructure to get power to cars and factories and all of the things we need power. >> well said almost building two separate grids side by side and some

point bringing them together i can't count how many companies you brought together 34 years as bain celtics and bruins have a great conference. i hope we speak with you again on cnbc. >> great to see you, brian i'm the only warm person in davos because of the great coat from canada goose. i like to see you out here you are sitting in the studio looking very warm and very calm. >> very warm and toasty. some day they will let me into davos. i'm not sure they are ready. stephen, thank you have a great conference. >> thank you to washington now where the president remains under fire amid growing fallout after sets of classified documents were found at the little used office in philadelphia and his home in wilmington, delaware in all, three different batches of classified material were unc uncovered. two in november and one in

december those discoveries were not revealed until after the midterms let's get the latest on where we stand right now with brie jackson joining us from washington, d.c. good morning, brie >> reporter: good morning, brian. republicans are demanding answers and sources tell nbc news that president biden is frustrated with the backlash regarding the classified documents found. he feels the news of this has not been handled well. president biden, once again, ignoring questions from reporters regarding his handling of classified material >> how do you think the classified documents got into your boxes >> reporter: despite the silence, republicans are demanding answers. >> are there more documents? is there an inventory of what is still missing? we have no answers >> reporter: close to a dozen documents found at the private office in washington, d.c.

including at least one document marked top secret. there are two batches discovered at his delaware home causing republicans to send a letter to the white house requesting visitor logs citing serious national security implications the white house and the u.s. secret service saying they do not maintain those records because it is a private residence. >> this is so wrong. this is another example of a two-tier system of justice in america. that is why republicans are outraged of the process and hypocrisy. >> we are getting a lot of whistleblowers >> reporter: a special counsel is reviewing the storage of records discover ed at both locations. president biden supporters are standing firm. >> i trust they will continue to cooperate. >> reporter: the president's personal attorney innsisting thy cannot release certain issues of

the investigation while it is ongoing. the white house is blasting the republicans claiming they are politicizing ithe issue. brian. >> all right they did wait a few months to reveal it. brie, do we know if any records are kept from the president's private residence excluding the visitor logs you mentioned another question if there are documents there, why not visitor log. >> reporter: the secret service do background checks, but the information they keep for a limited amount of time brian. >> brie jackson on a story that is not going anywhere. thank you. we are not going anywhere. when we come back on "worldwide exchange," we are going back to

dieye davos and interview with daniel yergin. and meme stocks and now ryan cohen is now looking at alibaba. down but not out. what the founders of 3 arrows capital are up to and why they are on the hunt to pocket investors. we're back right after this. com? with operations in scotland, technologists in india, and customers all on different systems. you need to pull it together. so you call in ibm and red hat to create an open hybrid cloud platform. now data is available anywhere, securely. and your digital transformation is helping find new ways to unlock energy around the world. [music - cover of blondie's “dreaming”]

and your digital tran[music playing]elping ♪ imagine something of your very own. ♪ ♪ something you can have and hold. ♪ ♪ i'd build a road in gold just to have some dreaming, ♪ ♪ dreaming is free. ♪ accenture, let there be change. just look around. this digital age we're living in, it's pretty unbelievable. problem is, not everyone's fully living in it.

nobody should have to take a class or fill out a medical form on public wifi with a screen the size of your hand. home internet shouldn't be a luxury. everyone should have it and now a lot more people can. so let's go. the digital age is waiting.

welcome back the sun is about ready to rise here and the sun has set in hong kong it is a live look. 6:17 p.m. in hong kong the night just beginning by the way, if you have not spent nights in hong kong, it is a truly remarkable place it makes manhattan look like uncrowded and rural. it is a city that literally does not sleep. hong kong. truly a remarkable place. let's get to the top corporate headlines and big news for electric cars. silvana henao is here with that. good morning, silvana. >> good morning, brian ryan cohen, known as the meme stock and founder of chewy.com found a stake in alibaba and is now, according to reports,

pushing to speed up the buyback plan the stake is not known at this time cohen contacted the board in august and shares were deeply under valued and it could hit double digit sales and 20% free cash flow in the next five years. the founders of hedge fund three arrows capital are looking for investors in the exchange that could capitalize on the growing list of bankruptcies in the consrypto space. the new exchange currently called gtx would be a trading platform exclusively dealing with the stress of ftx the hope is to be ready for launch by next month and new report says electric vehicle sales made up 10% of all new car sales last year worldwide for the first time ever driven by strong growth in china and europe global ev sales in 2022 totaled

7.8 million units. increase of nearly 70% from the year earlier, brian. we are seeing lots of evs on the road >> not here as much yet. much faster in china >> i definitely see a lot on the roads these days >> you see one behind the wheel silvana. >> that's right. that's right >> that's right. you see a lot on the road. right here silvana. silvana henao. saving the planet. silvana, thank you very much >> you got it. >> see you in a few minutes. on deck, football and an nfl wild card weekend finale 20 years in the making. a lot of weird stuff happened last night we'll talk about it coming up. (vo) sail through the heart of historic cities and unforgettable scenery with viking. unpack once, and get closer to iconic landmarks, local life,

and cultural treasures. because when you experience europe on a viking longship, you'll spend less time getting there and more time being there. viking. exploring the world in comfort.

get refunds.com powered by innovation refunds can help your business get a payroll tax refund, even if you got ppp and it only takes eight minutes to qualify. i went on their website, uploaded everything, and i was blown away by what they could do. getrefunds.com has helped businesses get over a billion dollars and we can help your business too. qualify your business for a big refund in eight minutes. go to getrefunds.com to get started. powered by innovation refunds. this is ge aerospace, advancing flight for future generations. ♪ welcome to a new era of flight.

welcome back let's talk oil and gas and energy there will be two factors going forward. number one, how much oil china buys and if opec will cut production in the coming months because china posted the weakest economic growth in nearly 50 years. china's u-turn scrapping the zero covid policy is boosting hope of the demand recovery for the full year, but it is slowing

s slog in the beginning. let's go to davos and talk to dan yergin his book is "the new map." dan, good to have you back on. i'll throw it right in there you sent us a graphic of china oil imports. i like to put that up because when china quote reopened, there was optimism that demand would boom that is not how it will be how do you see china playing out the year >> right now, i mean, what i hear here brian is in fact on the commodity side, it is bouncing back faster than people thought. as you say, the china rebound is a big factor that could tight etighten orders in the first half of the year and in the oil market that is tighter in the second half of the year >> when you say tighter, could

that be tighter by 500,000 barrels per day or 2 to 3 million barrels a day? the world has the former i don't know if the world has the latter. >> of course, what is weighing on the world oil market today is what is happening with interest rates. when i look at the pmis which measure business looking forward, not back, you do see a continuing slowing in business activity you also see inflation weakening faster than people thought i think in the first half of the year, you still have the gdp interest rates waying. as we move the second half is when you start tosee the rebound or expectation of the rebound. by that point, china should be resurgent again. as you said, they are scrapped with the covid policy and it is chaotic with the effect. here, at least, the waves of covid have passed through shanghai and hong kong

>> yeah. in fact, some of the data is coming down, thank goodness. dan, doing this as long as you have and can you explain to viewers and me as well what the impact of higher rates and currency moves is on the price of oil we talked so much about oil and demand and supply and opec to your point, monetary and fiscal policy matters. how much >> i think monetary and fiscal policy matter a lot. at the end of the day, i think gdp wins out really, i say two people are setting the price of oil right now. one is jay powell, chairman of the fed, metaphorically speaking and xi jinping of china. gdp wins out in the end. that is with a we see -- that it we see again and again once demand comes back, you are back on the issue of under investment in supply in the

tighter market >> yeah. we talked about it earlier i don't know if you were -- i know how the set works there, dan. maybe you heard the interview with steven at the top or not i know we talked about the incentive to talk about the oil and gas projects in the united states by private equity and wall street. when i look at the permian and the boom days being behind it because it is still an amisazin oilfield do you agree with that or can the permean have a second resurge answer >> by far, the united states is still the biggest oil producer you hear it all the time, brian. capital discipline they have to return more capital. right now, the supply chain

problems on the world's economy is there with the oil and gas production and inflation is at work in the oilfield costs are going up that is holding it back. it is continuing to grow the business is not growing at the rate we have seen in the past i think we will see continued growth over the year >> dan yergin join us from davos. see if the growth in that permean you referenced will match china. thank you. let's step outside and get a check on the other headlines, including revelations of the scary near miss at jfk airport a couple days ago. frances rivera is in new york with that. >> brian, good morning over the weekend, a close call with two passenger planes on the runway at jfk airport. this animation shows the delta jet at the bottom of the screen in red about to takeoff on

friday the 13th. the pilot brakes moments before the collision with the american airlines plane the faa released a statement saying delta airlines stopped the takeoff rolel 1,000 feet before the american airlines flight delta provided an apology and is investigating along with the faa and ntsb. a large swath of california is getting reprieve from rain and snow residents are assessing the damage from the onslaught that killed 22 people since december. on monday, 22 people were evacuated after a landslide swept through berkeley the wall of mud and debris pushed into one home president biden will survey the damage on thursday another storm is forecasted for wednesday, but it is expected to be the last major one for a

while. dak prescott was lights out for the cowboys. but kicker brett maher missed an extra four extra points in the game dallas sliced through the buccaneers with the 31-14 win. dallas advances to the divisional round where two of the rivals clash on sunday night. we get the first look at the chiefs in the playoffs they take on jacksonville. on sunday, it is the bills and bengals and then dallas heads to san francisco to play the 49ers. that is the lineup for you brian, back to you >> yeah. if you went to bed early, i did not, dallas cowboys kicker missed four extra points in a row. almost automatic four in a row. frances, i don't think that has ever been done >> they made it. they're in we will see what happens >> didn't matter thank goodness it did not matter you don't want to be that

kicker maybe the last time we saw tom brady in a football uniform. thank you, frances. coming up, microsoft adding to the ai cloud vengcori with the billion dollar investment in chatgpt. stick around we're coming back. ♪ ♪

a cyber-attack can grind everything to a halt. cisco security keeps your company moving forward. because if it's connected, it's protected. cisco. it's official, america. xfinity mobile is the b fastest mobile service., it's protected. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services,

now with over 5 million customers and counting. save hundreds a year over t-mobile, at&t and verizon. talk to our switch squad at your local xfinity store today. it's been a solid start to your money in 2023 after two straight weeks of gains, there is one sign that trouble could be ahead we'll show it to you get ready for another round

of bank earnings goldman sachs and morgan stanley up to bat. chris levin is here to talk about it it is tuesday, january 17th. 5:33 a.m this is "worldwide exchange" here on cnbc welcome back good tuesday morning as we said, 5:33 on the east coast. let's get to your money on this holiday short week we are seeing futures not moving a lot. a lot of time to turn it around. fair value in the green. all this coming off the good start to the year. all the major averages are higher with small caps, if you have not been paying attention, russell 2,000 up 7% this year.

nasdaq 100 up nearly 5%. stay focused it could be an interesting week technically for the s&p 500. look at this chart hard to see. the purple line is the 200-day moving average we are testing that 200-day moving average this has happened a few times in the past year or so. you can see that every time the market, the blue line, hit the 200-day moving average, it has failed test, fail right at the 200 day if we move above it and hold, it is resistance or support that could be a good sign. it looks like an inflection point for stocks something to watch especially as earnings roll out. let's get back to silvana henao with more headlines on tuesday. including key meeting for janet

yellen and venture for one anthony scaramucci >> good morning, brian according to reports, a local union in germany says workers complained of unreaoeasonable wk a workw working hours. janet yellen is set to meet with the chinese counterpart this week in the bid to ease tension with the countries yellen plans to sit down with vice premier in switzerland tomorrow the meeting comes after the biden administration blocked the sale of the chips to china and considers a ban on investment in some chinese tech companies.

and scaramucci is getting behind the u.s. arm tech company. he has support for the new crypto firm. bloomberg reporting that the founder will use his personal money and backing the startup. despite scaramucci's firm investment in ftx wiped out. brian. >> anthony scaramucci. reinvester of himself. thank you very much. let's talk earnings. we are all gearing up for more big banks to roll out numbers. look at that burning central numbers from goldman sachs and morgan stanley reporting before the bell this morning. this comes after jpmorgan chase and bank of america reported

last week. for more on what to expect, let's bring in christopher whalen if you weren't awake before, that animation probably woke you up it did me. i didn't know it was coming. what are you expecting from morgan stanley and goldman sachs? goldman has laid off more 3,000 people. >> goldman has gone through a process of remaking themselves to your earlier comment with respect to the bank said of the business i said for many years it would be a good idea for them to buy a bank get people in there to run the bank side of the business. their performance in terms of funding cost which are high and credit costs on the loan book which are high are just not impressive, brian. they need to get their act together i think the way you do that is go buy core deposits if you look at morgan stanley,

he has achieved stability because of the big book of fun funding. he has assets to manage and he has the investment bank which is the cream on the top >> chris, are you talking about buying a big regional bank or mid major? i'll not ask you to speculate. like a pnc or u.s. bank? a smaller player >> i used names. smaller is key the reason i love key is it is 100 billion in main street core deposits i think that fits very well with goldman. it is not too big to dilute.

if you talk about a merger with a bigger bank, it will d disappear. they will have to rework the internal systems not a broker dealer which is how they are managed today >> a key corp could be an attractive tar geget for fundin? >> schwab, is the seventh largest bank in the country, now is funding for them. they tonight pair off with goldman. goldman is more market focused as the asset gatherers go, as i call them, they are the ex-see him -- exemplar. to me, goldman is missing the

back leg of the stool. >> with marcus, didn't goldman try and that's part of the problem? i'll ask you this. does goldman need a change at the top? i hear more and more that people are not pleased with david solomon as ceo a couple of people's opinion to me i'm hearing it. >> david has had a run, but growing a bank organically, brian, is difficult. especially in this market. especially when you are as large as goldman and you have to go for large transactions you see what happened with jamie dimon. he has to do a deal. eventually you miss something. goldman, $1.5 trillion balance sheet. less than $200 billion in bank they are vulnerable in funding

>> christopher whalen, i appreciate the views big topic. very timely. chris, thank you >> thank you >> timely because -- thank you do not miss conversations with the ceo of goldman sachs and morgan stanley they are all in davos. that coverage at 6:00 a.m. big banks. lots to discussion. on deck, get your pens or icloud notes ready we give you one big bank top 11 sector stock picks for the year. it is the rbi and content you see not see or hear anywher el ro beach, florida. my wife and i have three children. ruthann and i like to hike. we eat healthy. we exercise. i noticed i wasn't as sharp as i used to be. my wife introduced me to prevagen and so i said "yeah, i'll try it out."

i noticed that i felt sharper, i felt like i was able to respond to things quicker. and i thought, yeah, it works for me. prevagen. healthier brain. better life. [music - cover of blondie's “dreaming”] and i thought, yeah, it works for me. [music playing] ♪ imagine something of your very own. ♪ ♪ something you can have and hold. ♪ ♪ i'd build a road in gold just to have some dreaming, ♪

♪ dreaming is free. ♪ accenture, let there be change.

welcome back time now for the morning rbi we get random but interesting on good old fashion stock picks it has been a good start to the year for the major advanveragest you have to look deeper. bank of america is out with one pick per sector favorite stock list for the year. they choose one stock in each of the 11 s&p 500 sectors based on free cash flow and domestic and international exposure and perceived value and more it is an interesting list and could do great this year -- take that fox off, please

these picks last year did out perform the overall s&p 500, only four actually beat the respective sectors these were not locks by any means. like my chargers the other night. that said, interesting picks by bank of america. don't worry if you are on the radio, we will repost the segment. now we show you fox. fox corp they like bank of america, like the sports betting old media company. stock down 21% this year in consumers, bank of america likes tractor supply the great balance sheet and dividend growth make it attractive consumer staples walmart. consumer trade down beneficiary. in energy, bank of america likes exxonmobil higher oil beta versus chevron it will move more and oils moves and free cash flow yield by the way, of the 11, this is

the best performing stock the last year. bank of america notes exxon is high with the esg meter. in financials, arch capital. quietly booming up 34% in a year they call this an inexpensive consensus pick in health care, human a. they like the growing story. in industrials, honeywell. it could be a winner from the inflation reduction act. information and technology a analog devices it trades at a discount to the sector in materials, mosaic a fertilizer company it generates a lot of free cash flow the final two. one pick perspective selections

from bank of america in real estate is welltower. who is welltower senior investment trust that will bounce back from covid. 3.4% dividend yield. last, but not least, duke energy they also like duke's dividend yield. call it a high quality name trading at a discount to other metrics. there you go 11 picks one for each s&p 500 sector. we will track these names on our facts and screens and periodically update you on how they are doing because that's what we should do. you throw them up. you have to track them and see how they did hopefully random and profitable. we are not done yet. we will have heather brilliant with the names she likes and including a big used car play. by the way, if you haven't

already, follow our podcast on the all of the major platforms we're back after this.

welcome back time for the "wex wrap-up. china reporting 3% gdp growth for 2022 by the way, that is a sharp drop from the 8.1% pace from 2021 march is the slowest growth rate in decades ryan cohen is building a stake in alibaba cohen is pushing for more stock buybacks by the chinese tech company saying it could reach double digit sales. and microsoft is looking to open artificial intelligence software chatg wipt

good news on the electric car side evs making up 10% of all cars sold globally last year. the preliminary research shows global ev sales in 2022 totalled nearly 8 million units founders of hedge fund three arrows capital are pitching a new company focused on digital currency bankruptcy claims according to documents reviewed by cnbc, the firm is aiming for a february launch. the faa is investigating a near miss between two commercial jets at jfk airport on friday. delta airlines flight had to stop the takeoff when an american airlines flight crossed across the same runway nobody was injured perhaps a scary and close moment. let's wrap up and gear up for the trading week ahead you get earnings from goldman sachs and morgan stanley and

citizens financial and united airlines we are watching the tesla shareholder lawsuit against elon musk jury selection for that gets under way. on wednesday, the fed beige book and mortgage applications data and home builder sentiment and discover earnings and j.b. hunt. we will hear from boston fed president susan collins. that is not all. on friday, it marks the halfway point for joe biden's presidency earnings from slb. and then data on existing home sales. if you weren't tired, you are now after hearing that let's dive in deeper and get a little stock pick action with heather brilliant. president and ceo of diamond hill i'm exhausted running through the list what are you watching?

>> brian, it's a big week. honestly, at diamond hill, we take a longer-term perspective this is the kickoff week of earnings season. i'm not trying to claim we are optimistic i think, you know, there is news that you were record -- reporting earlier that ceos are pessimistic. there is an opportunity to look behind the short-term the next couple quarters and think about the businesses that are tried and true and make it through to the other side and deliver for investors. that is how we try to think about it at diamond hill >> when i saw some of your picks, i thought, okay carmax. everything seems to be going against carmax in one way. interest rates are up. prices are still up. buyers are balking there has to be more to the story than that.

>> i do think it could be a pretty challenging year for carmax a situation where earnings could get worse before better. ultimately, it is a strong business with a very solid position and fragmented market people are worried about things like digital competition c carmax has competed to give it more of an onnichannel presence. they will be impacted by the check factors you mentioned, but it is a situation where it is not an overlevered company you get a solid balance sheet. they made great investment decisions that will pay off in the long run >> maybe have the ability and size and scale to deal with headwinds better than anybody else that goes to another name you picked european based company we know all of europe's

problems it sounds like are you not worried that will impact nestle. >> right nestle is a very unique business from the perspective there are lots of businesses that operate globally. nestle operates in 160 countries t. i countries. it is not exposed to europe more than any other region in the world. first of all, the management team takes long-term perspective. they have been inquisitive and they have been pairing back to focus on the area where is they have developed advantages. the second is they just got really strong long-term oriented brands in a number of sectors. areas like pet care and coffee things that people tend to stick to brands in a weaker economy. given all that and their knowledge of how to navigate any economic situation given their global presence, we think nestle

the -- nestle is interesting. >> heather brilliant thank you. folks, we appreciate you here tuning in on cnbc or on the podcast later on thank you very much. i'm off tomorrow we'll see you back here on thursday "squawk" and the gang pick up coverage live and most of e th week from davos, switzerland see you tomorrow here on "worldwide exchange. [music playing] ♪ imagine something of your very own. ♪ ♪ something you can have and hold. ♪ ♪ i'd build a road in gold just to have some dreaming, ♪ ♪ dreaming is free. ♪ accenture, let there be change. just look around.

this digital age we're living in, it's pretty unbelievable. problem is, not everyone's fully living in it. nobody should have to take a class or fill out a medical form on public wifi with a screen the size of your hand. home internet shouldn't be a luxury. everyone should have it and now a lot more people can. so let's go. the digital age is waiting.

good morning futures in the red ahead of the opening bell with two wall street giants reporting quarterly results. giant banks more specifically. china's economic slowdown. lockdowns and zero covid

policies curbing growth and the country reports the first population decline in over 50 years. what does meme stock investor ryan cohen see in alibaba? it's tuesday, january 17th it's okay. it's warm. it's not bad we're in davos "squawk box" begins right now. good morning welcome to ""squawk box" here i davos, switzerland i'm rebecca quick along with joe kernen and andrew ross sorkin. we will speak with brian moynahan this