he also by the way offered alcoa, quote, a list of elites similar ranks in russia.ncy interactions with elites and countries, it's quite extraordinary that hunter biden has this access to the classified information, getting information, selling it to alcoa and then pocketing the money. it's all extraordinary. meanwhile the biden administration reportedly preparing to lift the covid emergency on may 11th. the president told us we were out of the emergency. you wrote a new newsweek column, you called out the american ruling class desire to govern via perpetual crises. >> this is the ethos of the progressive left and ron emanuel said you should never let a good crisis go to waste and that's been modus operandi for progressivism. the biden administration taking it to another level there. joe biden himself later in 2022 he actually said that the pandemic is effectively over. so if you tent the president at own purported word, whether fda, hhs should not longer be able to issue rules and regulation particularly to vaccine masking and things like that under the basis that

and finally alcoa.ve territory after the net loss of $374 million in the fourth quarter. shares off 6% in the pre-market trade. >>> let's get a check of the other top headlines with nbc's frances rivera in new york >> dom, good morning the new mexico district attorney will announce if any charges will be filed in the fatal shooting of the "rust" film set. alec baldwin was holding a gun that killed helena hutchins. prosecutors have concentrated on the individuals who handled the gun that day the crew members denied any wrongdoing. >>> and dangerous winter storm is marching east after blankets the plains 27 million are under winter alerts from wyoming to maine parts of nebraska saw 2 feet of snow of o snow in colorado, they saw dangerous driving conditions and pileups on the highway. >>> and jacinda arden says she no longer has enough in the tank to do the job. >>> finally, a ground breaker at columbia nemat shafik is the first woman to head the ivy league university when she assumes the role in july dom,

stuart: alcoa, the aluminum people.ome. >> lower aluminum prices, which isn't necessarily a bad thing, but it is when you're alcoa and that's your business. for fourth quarter revenue, it fell 20% for them because of the lower prices of aluminum. prices have been, essentially, cut in half. i think it was 4,000 a metric ton last year, now about 2,500. here's your positive, they do expect an uptick in shipments. some of their competitors are doing a little better because of that outlook. stuart: down nearly 4%. let's talk uber. are hay planning any layoffs? lauren: no, but i don't think i believe them. in daf can vos the ceo said, well, 20% of our fleet could be self-driving in 12 is-15 years. so when you have a self-driving taxi -- >> no thanks. [laughter] lauren: in 15 years, we might change our mind. a lot of things to tell you about. they announced a deal with the city of denver, they're going to add 5,000 evs to their fleet there, and and they're working with automakers to design cars that would be cheaper and better

shows hunter biden offering to sell intelligence on russian oligarchs, to -- the aluminum company alcoa says he also offered the company a list of sem rank in russia map of networks based on frequency of interactions with selected elites and countries writes to alcoa he actually wants to be paid for inside information about this russian oligarch. >> yes, where would he dw either that in recognition of? i mean that detailed analysis, frequency of meetings. that is something that really looks very much like a classified intelligence document. and so, again, more questions. and look. the fact is hunter biden -- his father his life was chaotic making phone calls out of joe biden's house, and he was desperate for money, he was drug addict, he was a -- committed crack addict, so, he needed money desperately, and it is pretty clear that if you need money desperately you will do anything you will betray anybody. so it iss at this point, i think the american people demand special counsel and republican house get to the bottom of it if those secrets were hold to highest bidder overseas that is a

and the bad, alcoa, i was very bullish in the beginning of the year it looks like a genius so many ofcks have been cut in half since then citibank was too cheap on valuation. disastrous there were many other things and ugly, that dawn trade, they call them letters. >> acronyms. >> which i can't spell that either there is nothing good about the d and a and w and n. >> have you been trading alcoa since the 60s? >> that is an age joke on top of the hair joke. none of these make me feel good about myself on a wednesday night. >> i don't think your hair is ugly and i don't think nancy is. tube into "fast money" all next week for the traders 2023 acronym picks. a whole segment about it that is exciting >>> coming up, think the chart of this ftx crypto bank couldn't look any worse ee disagrees and thinks there isven more pain to come. "fast money" is back in two minutes. when you stay at a vrbo you always get the whole home because is it really a vacation home if you have to share a house with a host? ♪ only with vrbo >>> welcome back to "fast money. silver gate capital shares crashing after

is "g" for gold, "a" for alcoa and "s" is for silver so basically i think alcoa covers you in the event we do get a sort of cyclical rally, emerging markets or china. but that you get the defensive characteristics of precious metals, g.a.s. >> i feel like you're very levered in one direction >> always. >> but for the full year this is what you would stick by? >> yeah. >> and you could have made this s.a.g. but chose g.a.s. >> yeah, because s.a.g. is kind of the -- wrong direction. >> anyway -- >> but you actually had the a aarg you changed it >> i was not reading the rules of the game. how best to describe the past year and aarg, apple, amazon, "r" for rivian and "g for google and what am i missing. >> "h. >> hang seng, the things that were the worst possible -- aargh is like ugh, horrible. >> you think those are all going up you talked about being crafty here and have -- that's two. >> i don't like those. >> good for you. i like aargh no one likes g.a.s >>> coming up, let's get ready to rumble. big changes at the wwe helping the stock to rally but do options traders think there's e gea

it becomes clear though that knows was suffering from alcoa some end and as soon as that became publicly known cars and stop making jokes about the man even though other continue to do so. alcoholism should not be -- carson i was worried that being political or drive away half of his audience. and in some ways that's more or less what happened after he left the scene. jay leno his successor in the "tonight show" retained many of carson's more concerted views while the more liberal viewers migrate to late-night and cbs where letterman led to higher ratings. that trend has continued to the current day. stephen colbert on cbs sees the ratings of the "tonight show" host jimmy fallon who focuses less on humor and jimmy fallon of courses project we famous for a hair tossing interview with candidate trump before the 2016 election that the critics said was little more than a promotion for trump and trump had starred on nbc for the apprentice before he became a presidential candidate. think it's fair to say for all the positive accolades about johnny carson's program it's important to remember it

alcoa down 5%. demand picture seems to be affecting the shipment story for the rest of the year. discover financial is modestly lower now, starting to see signs of consumer weakness falling behind on payments. procter & gamble down 1.5% today as they get ready for more macro headwinds. you talked about tech. we will be watching netflix quarterly results tonight. ahead of those, down roughly 1%. we will speak to an analyst about what to expect later this half-hour. kriti: certainly something that we will keep our eyes on as we see a broad selloff. we are hearing from some of the major voices out of davos at the world economic forum. christine lagarde discussing how determined she is to fight inflation. >> inflation, by all accounts, however you look at it, is way too high. our determination at the ecb is to bring it back to 2% in a timely manner and taking all the measures we have to take in order to do that. jon: for more on that inflation story, comments that we just heard from the fed chair, lael

golgoldman sachs, goldman stanly and wednesday alcoa and pnc reporting and thursday netflix unleashing quarrelerly report and up year to date and they're peppering that calendar including monthly retail sales, mortgage applications and existing home sales and by the way the u.s. is expected to hit the debt limit in three days. to the floor show here to get you suited up for it all, kenny polcari and bubba. what's the trading report? >> it's all so important now because the data is starting to weaken, just as everyone tells us to your point, larry fink's article about going into a recession, we're not going into a recession so what the data will tell us but then cup that will with the earnings report and what's that going to tell us about what ceos in a c suite start thinking about four to six months out, where do they think we'll be? both are very, very important, and we saw it last week with the banks and maybe we'll see it tomorrow again with goldman sachs and morgan stanley they're allocating more money to low-lost reserve act in anticipation of what they think could be a difficult

alcoa is talking about a slowing down of demand. europe is responding to higher prices and cutting demand. that is the fundamental picture in the backdrop. then on the bond market, we get a strong -- weaker economic data. today, we get home sales, and you get initial jobless claims coming in better than estimated, and a little bit of selling with yields higher. this is confusing, but the signal is when it comes to economic data. >> as i say, the market is always right, and if you start with that starting point, things make sense, but it doesn't always make sense. the market is confused. positioning is a big factor. we are trying to digest what appears to be contradictory messages. i think you have messages coming through from central banks, particularly from the ecb. i wonder if there was a little bit of a trial balloon floated out of frankfurt. the idea that if you do 50, may be you downshift to 25. the ecb, the speakers we heard from, making it clear that is not the case, and the ecb account came out. >> a large number of official

alcoa and discover financial will speak. the story could be quite interesting in terms of helping the consumer. >> a shocker. goldman is upgrading. it really appears in the energy trend and what they were talking about. a lot of inflation pressures that could be structural. i turn to commodities. that's it for me and guide. coming up, the ceo of cantor fitzgerald will join balance of power on television and radio. tune in for that, and we are headed towards radio as well. we will not get a chance to talk about what we are seeing with u.k. inflation. sure, is rolling over, but it a 10 handle which puts that in a tough spot with a 50 or 25 scenario. real wages continually get eroded. we will rake that down on bloomberg digital radio. this is bloomberg. thanks to avalara, we can calculate sales tax automatically. avalarahhhhhh what if tax rates change? ahhhhhh filing sales tax returns? ahhhhhh business license guidance? ahhhhhh -cross-border sales? -ahhhhhh -item classification? -ahhhhhh does it connect with acc...? ahhhhhh ahh

. >>> speaking of inflation, or disinflation, alcoa also in the red after a big drop in quarterly revenuehigher energy and raw materials costs, and falling aluminum prices. those there's are down 3.5%. finally, keep an eye on the cruise ship operators. norwegian cruise ships is falling after it released a revised earnings forecast for the second half of 2022 and now expecting a net loss for the first quarter of 2023 and other cruise names are falling in sympathy as well david? >>> as usual, a lot of people following the fed very closely of course, as calls that inflation have peaked continue to grow. steve liesman joins us with that story. steve. >> good morning, david in remarks delivered in just the past hour, boston fed president susan collins continued the drum beat of fed officials saying central bank should hike rates above 5% and hold for some time. among 19 members there seems to be very little deviation among their comments collins says she anticipates further hikes but slower, 25 versus 50 basis points she added rates should rise above 5% and hold there for some time because the

can start with the current earnings season and we've seen that economic data this week and we saw alcoa after the bill yesterday which was a troubling release and over the next couple of weeks, we think earnings season will be a challenge. we think the economic data will decelerate and we could see some real capitulation in terms of earnings forecast. we think the next two earnings seasons could be the most troubling. tom: when you look at the cross moments around the equity market and when you look at the fancy derivative chat, what does it say about the bit being placed right now? -- about the bet in place right now? >> we are seeing a reflection of what we've seen more broadly which is a more constructive start to the year. the vix traded down to an 18 handle which is low relative to where it's been over the last year. that is reflective of this kind of china reopening, warmer winter in europe, starting to translate into a short trend and may be people are thinking the elusive soft landing is coming but that's inconsistent with the data. retail sales, industrial production, empire ma