and there is also this statement coming from citigroup, citigroup essentially overweight on china credit for next year, 2022, because a lot of this negativity is priced into these bonds. they see, of course, all these maturities coming due in january in the first part of the year. throughout the rest of the year, citi sees some room to weather that storm in china credit. that being said, ok, kaisa, we are learning from bondholders, has missed its latest payments on two different 30 day grace periods on coupons that were due this week. that's in addition to the 400 million dollars matured bonds that they defaulted on, declared default. so kaisa's another stress this morning. and a court in china has received lawsuits from more than 300 different claimants of trying to get back payments at various different obligations from china evergrande. the tune of $13 billion and counting. so there is more pressure on kaisa. there's more pressure on china evergrande, but little bit more calm in the dollar junk bond market yesterday. today is a different day, though. we'll see. haidi: our japan econom

citigroup has chosen bidders for their consumer assets in several asian markets., malaysia, and asia. citigroup has been considering a sale of certain resell -- retail assets in asia as it focuses more on investment banking. the start of trading, the property sector remains front and center when it comes to the start of trading in hong kong. evergrande is in focus, headed towards one of china's largest ever debt restructuring. as it manages to do it, there is so much uncertainty about what the rest of the property sector will have to deal with. we are watching kaiser group that just extended trading in hong kong after a missed payment earlier this week. we are watching some other players given that refinancing at this point seems impossible with the state of the bond market at the moment. coming up, how china's property sales are falling further in the last weeks of the year. outlook on the latest property sector. and we will speak with a representative from morgan stanley with strategies for the year ahead. this is bloomberg. ♪ difference in the competition. we c

citigroup, you can work-from-home. ubs, you can work-from-home.sachs kind of wants you back in the office and so does morgan stanley and it's sort of manifesting itself in this holiday party disclosures and policies that are going forward, liz, back to you. liz: okay, charlie, thank you very much. we're watching it. it is a very very sort of constantly-developing story, as we know. because we have that one death in the united kingdom and again it's related to omicron but we'll be watching it thanks charlie. cancellation creep. the omicron variant, yeah, it's taking the wind out of the sales of some travel stocks, airlines, et cetera but our countdown closer says that makes some of these names a screaming buy, where he's making reservations for his portfolio, next. ♪♪ it starts with a mother's determination to treat her baby's eczema. and grows into a family business that helps thousands more. it starts with an army vet's dream of studying the stars. . . and grows into an award-winning restaurant that creates local jobs. they learned how on youtube

what is the mystery across the citigroup view of the american economy?w: the biggest mystery we need to address is what is going on with inflation. that's exactly what jonathan is talking about. the flexibility they have set themselves up to have. we thought they were going to accelerate the taper. that idea really endorsed by chair powell this week. that puts these earlier rate hike scenarios on the table. it will depend on the data. the risk around inflation mean the risks will choose the hockey side. tom: we are really focused on oil today. a small bacon on oil could go -- a small bank announced oil could go over $100. how does this impact your fed call? andrew: they have been great on the oil call. of course, we had a few people noting chair powell more hawkish at the moment when oil hits its peak and comes off. this is about more than oil. headline inflation matters. matter. we have seen shelter prices rising. wages are increasing. we are seeing in the data that has been passed through. the inflationary pressures which maybe isn't specific to energy

if got citigroup raising their projections.sically just puts them above average when it comes to the analysts we surveyed at bloomberg. this is the stock that has really taken off ever since late last year. you see it in terms of this year's performance. third biggest gain in the philadelphia semiconductor index. this comes even though one applied materials had earnings out, they weren't exactly happy with their forecast. they are having challenges in getting the materials they need in order to make the equipment. stock fell in the wake of those results. there analysts anticipating there is going to be slower growth in revenue for the coming fiscal year. you have to take a step back and look at what's going on in the industry and realize why people would be optimistic. samsung electronics is increasing. in terms of capital investment in the next three years. and intel plans on $28 billion of spending next year alone. those plans clearly provide opportunities to do more business, maybe gain a little market share. amanda: we have

citigroup already requires workers in those offices to be vaccinated.week, the centers for disease control and prevention estimated the omicron variant could make up 13% of covid infections in the new york city metropolitan area and new jersey. hotels in new york city had their best week since the beginning of the pandemic, setting covid era highs with an occupancy rate of 82%. leisure travelers who have traditionally mobbed the manhattan for holiday shows and christmas shopping have so far been undeterred despite surging case counts and the emergence of omicron. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloomberg. ♪ matt: thank you very much. mark crumpton with your first word news. let's get a quick check of what is happening in the markets. the dow jones industrial average is up, a gain of 93 points. 36,020 is the level on the dow. meanwhile, the s&p is down. fluctuating between gains and losses today. off almost 20 points. 4690.

didn't citigroup say they are giving people the friday off? sri: let's see how true they are.laughter] caroline: you are saying it is knee-jerk? sri: we saw a report that talked about even after james fraser came out with the announcement about avoiding meetings on zoom, some managers were saying this does not really apply to your group. that dynamic will expend. you might revert to the mean in the next 12 months. caroline: the response to the survey to a certain extent, they want more pain, but what is the response -- want more pay, but what is the response for the people that have been there for a longer time? sri: they will say the only way to get ahead in this business is to put in the time and the hours now. you will feel like you are being slaved to death, but that is what you need to do. this industry does offer unfathomable riches, especially compared to everything else relatively speaking. their thinking will continue to be, we did it, you have to serve your time as well. romaine: they are on the bloomberg 54 reason because it got everyone -- 50 for a reason because i

i keep looking at the changeable book value of citi and it's 78 and 79 i'm not asking to stay in citigroupw the heck can that happen there is a disparity between the stock price and the booking. >> i think it's because of the scale factor when citigroup changes business model they're not as scalable and that's why it's hurting that and i much rather own the play of scale meaning morgan stanley, goldman, j.p. morgan and the canadian banks and j.p. morgan tvs any great to hear you as always, brian. >> that's brian belski up, in, a first with the united airlines ceo scott kirby and the 20th anniversary of enron filing for bankruptcy don't miss our exclusive interview with jim chanos. he began shorting enron a year before its collapse. we're back in two. at pgim, the pursuit is on for outperformance. as active investors, to outdeliver with customized strategies, integrating esg best practices into our investment decisions. as asset managers and fiduciaries, to outserve, with our commitment to better esg outcomes. join the pursuit of outperformance at pgim. the investment management business of

charlie: they are citigroup is like basically an addendum of the democratic party to begin with.for years because that's where they come out on these things. they come out on these things they are very very very nanny state-ish. liz: but that is only a report from reuters. jefferies is coming out and saying we're worried. charlie: but don't you think we should be living our lives again we've taken all the precautions. how much more do we need? i mean, i get it, listen, i'm not a denier. my brother works on this stuff. liz: okay. you're going to get cutoff because we have to go go to commercial break charlie thank you very much we're coming right back. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, . . ple achieve their financial goals. visit findyourindependentadvisor.com hi, i'm steve and i live in austin, texas. i work as a personal assistant to the owner of a large manufacturing firm.

citigroup was warning a little bit about this, saying many blue-chip u.s.ompanies are likely to boost their borrowings next year until rated just a few steps above junk. they may not be fully prepared for, well, for four years running that worst-performing major issue were has been a company that began the year with at least one single-a rating, hailing from sectors as diverse is utilities, aerospace, energy, and technology. is there going to be this wave of issuings that pressures these ratings, or is high-yield and still good shape? peter: we have the strongest conviction around high yields and think that investors could have exposure, and quite frankly, that asset class we are forecasting returns in 2022 to be five to 7%. we can get equity low returns in high-yield that has more consistent -- as well as it has the ability to just be a less risk-tolerant as a class. if you look at high-yield for the next year, we think the fundamentals look really good even for the lower-quality credits. we think just from a default perspective, historically high- yield t

>> i think citigroup is telling people to stay home. neil: right. >> they have been actually, that has been -- neil: they have always been pretty conservative about this. that was interesting itself. i wonder if more the firms talk like this, the more employees are one step ahead of them, saying all right, i'm going to really hold -- >> you put out a lot of employees like the work from home business right. i personally don't. i'm much more productive in the office. i will say this -- neil: you seem cozy when you reported at home. >> i don't mind it. like being here next to you. neil: same here. >> here is the thing, neil, i think, first of all the information we're getting about the new variant is not that, it is not that it is worse than delta. actually less severe than the delta variant. neil: right, right. >> don't we at some pint have to live with this at some point? this whole notion going back and forth, back and forth -- neil: that was the word we got from democratic governor, colorado. look, there comes a point we have to deal w

and citigroup is encouraging its staff to log on remotely saying it will provide an update in january on when it expects to be back in the office. goldman sachs in a tough spot in dealmaking. the investment bank was the number one advisor on mergers and acquisitions for the fifth year in a row as measured by the total dollar value of transactions. this dominance comes as global m&a and related deals wracked $5 trillion in deals. it has a market share of more than 24 percent. checking in on markets on a day with thin liquidity but chinese tech shares are getting a bid. up more than 3%. hong kong closing early for the new year holidays. that is three days of gains after bid for tech stocks seeing the biggest gain since 2008. year to date though, you are looking at losses of more than 32%. the shanghai composite gaining more than 0.5 -- 0.4 percent as manufacturing and services pmi came in suggesting strength. the bloomberg looks flat. plenty more coming up. this is bloomberg. ♪ david: this is my kitchen table and also my filing system. over much of the past three decades, i've been an i

we have learned that macau's citigroup has ceased its junket operations.st month with establishing -- for establishing gambling platforms. crown resorts says its value is underpinned by a significant company portfolio that was valued at about $3 billion at the end of june. they said they are making specific progress in its remediation plan walk confirming it is scrapping dividends for the first half of 2022. crown was given a couple of years to address a litany of misgivings -- miss doing. we are looking at this rise in commodity prices. we heard from the three-day conference that it is likely to see we will feet -- see further stimulus from china. we are seeing futures withstand a run of four weekly gains. the longest winning streak since may. a number of economists predicting they will add fiscal stimulus here. that will continue to boost demand for commodities. rishaad: let's quickly check in with what is going on with the chinese markets as we head toward the lunch break. we have these sector groups. utilities up 5.4%. consumer staples doing very well.

haidi: citigroup's global chief economist says he is remaining hopeful that we will see some improvementsthe first quarter of the year. >> i think the role of the coronavirus in the pandemic in these disruptions is absolute critical. probably not emphasized sufficiently. specifically, i see the arrival of the delta variant during the late summer and early fall as being an important contributor to the staff and the ports we saw later. specifically, what happened is it makes people less comfortable to spend on services and throws expenditures back onto goods. it also created a significant production disruption in asia. i think if we see further lockdowns in asia, u.s. consumers continue to be in a place where they are spending heavily on goods and more reluctant to spend on services, it means these supply chain disruptions which fundamentally are about the demand for goods are likely to be more prolonged. i see the pandemic, omicron, and whatever other variants we may run into being a key causal factor in shaping what these challenges look like during the coming year. >> that takes us to th

hsvc, deutsche bank and citigroup are among the big banks who have told employees to return to home working if possible. china's largest wireless carrier has the nod for a multibillion-dollar listing in shanghai. it was kicked off the new york stock exchange by former president trump. china raised $5 billion in the share sale. u.k. ministers have been told to make tech firms liable for hosting scam adverts. a policy panel says regulators should sanction companies that host advertising that leads to fraud or disinformation. a wide-ranging bill aimed at cracking down on big tech is expected in the u.k. parliament by march. that is your bloomberg business flash. francine: let's get into the key market drivers. we are joined by marija veitmane , senior multi-asset strategist, state street bank. >> with any big week like this, there will be consolidation. it is telling that this is the focus of a lot of investors. we have a story of colleagues in our equities team talking about how the policy mistakes when it comes to tapering and tightening is feared is the biggest risk for markets and particul

on so much dry powder the they're willing to do deals swapping that market higher but you look at citigroup and the idea that 70 nguyen dollars worth of high-grade bonds can faced downgrades into next year as the economy slows and is the race rises, you got to wonder about investor appetite when it comes to taking risk incorporate bond markets especially when you look over the long-term when some of these companies may make -- may not make it through. guy: it will be interesting to see which is a lead asset classes we work ourselves are these rate. the bull market is signaling that the fed will be making a mistake in the attic market looks sanguine. if you look at the yield curve, the message is pretty clear. jay powell tried to downplay this but the message the moment is are we setting ourselves up? >> you get a lot of different opinions but when you look at the price action in the bond market, not everyone is on the same page with the fed right now whether it's the regards of the end of the taper the start of the rate hikes or the number of rate hikes. we may not see any hike next year de

citigroup is said to have consumer assets in several asian markets. the u.s.has picked leading buyers in thailand, indonesia, malaysia, and china, while sales of india and taiwan businesses may take longer. it has considered a sale of retail assets in asia as it focuses on unprofitable units like investment banking. david: let's look at markets. after a big move in treasury yields, we are coming up ever so slightly. we focus on 30 year yields. where do we break above 1.8%? that seems a key question for macro traders at this point, given the expectations. let's have a look at oil and the latest assets. we had the loonie in here. .5% to the upside so following a .5% jump in oil prices. we are coming off ever so slightly in the breakdown. since we talked about one sector group, asia books to support the day across 10 to 11 sector groups. every single one is up as we speak with the exception of consumer discretionary. property, health care, resources, risk on. rishaad: the omicron variant, the pfizer vaccine provides robots but not complete protection against it,

abraham of citigroup has been covering this.can i get your sense of how many rate hikes have been baked into the dollar? how much is this front run anything the fed could do? abraham: we think there is more to come. if we think of the fat in the context of the other central banks, it is the one across the g10 spectrum where we can still hike. right now, we are pricing about 65, 70 basis points by the end of 2022. we think that could go up. i would say over the next two years, another 50 basis points to go. translating that into currency, there is usually about a 3% appreciation. that is broadly our reference point at this point. lisa: how much is that the driving force behind the dollar versus lockdowns? you see the pandemic worsen in certain pockets. ebrahim: we really are thinking of interest-rate differentials driving effects only if they are undergrowth differentials. there are a number of reasons why the u.s. is outpacing the rest of the world. some are good, some are challenges elsewhere, including rising energy prices in

common up, citigroup institutional client group chairman to talk about the dealmaking on wall street. this is bloomberg. ♪ sonali: let's check in on the first word news. a new study warns that a previous recovery from the coronavirus revives little protection against infection with omicron. the research underscores the importance of booster shots. it showed that having had covid only offers 19% protection against omicron. the u.s. is pushing the eu to finalize the package of sanctions against russian energy countries. the u.s. believes the sanctions would send a firm signal to vladimir putin. french fishermen are still waiting for 73 fishing license to be handed out. they could fish and british water. last week, the european union said it was making progress in the dispute. in san jose, closing arguments in the fraud trial. the founder of the blood testing start up, one of her lawyers said she was building a business and not a criminal enterprise. she's accused of defrauding investors. global news 24 hours a day on air and on bloomberg quicktake powered by 2700 journalists and analyst

hsbc, deutsche bank and citigroup are among big firms to also tell employees to return from home -- returnhome working if possible. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus? manus: thank you very much. juliette saly in sydney with the latest. coming up, our interview with the binance ceo. this is bloomberg. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. ♪ analysts in more than 120 countries. ♪ manus: it is "daybreak: europe," i am manus cranny in dubai. what a week for crypto. you are looking at bitcoin, ether, all under pressure. we've gone from hero to zero. this is the fifth week of a slide in bitcoin. we have gone through -- ring a bell, somebody -- moving average. the 200 day moving average. we begin to understand the scale of the destruction. again, down -- yep, down the 30% level again on bitcoin, that is the red chart at the bottom. again, under serious pressure. i l

at the same time citigroup warning they are might not be as strong.xt we got the news from unicredit, planning $18 billion in planned return to shareholders. this is double the amount they had estimated previously. because of that we are looking unicredit up 10%, an opposite story when it comes to deutsche bank. some of the mood music unable to help deutsche bank. because of the settlement they had earlier in january, they have to disclose any potential misconduct. the doj saying they might've done so by not disclosing a whistleblower complaint. finally, looking at deliveroo, it was weaker through most of the day, coming off the stay-at-home trade being put on. concern has to do with the new eu rule that people who work for food delivery services, you now are presumed to be an employee. it is the onus on the platform to prove their part-time worker. though shares down .9%. alix: let's get more on deliveroo and how these platforms will be affected by the eu labor rules. giles thorne joins us now. he has a buy rating on deliveroo and moonlighted as a de

citigroup told staffers in new york city to work from home through the holidays if they're able to. citadel issued similar guidance. talk to us a little bit about what is happening across corporate america, and especially in new york city where we are seeing another wave? >> unfortunately, it is deja vu all over again. just now, new york authorities announced we have 18,000 new cases. that is pretty much close to the all-time high. it is very clear the next few days and weeks will get progressively worse. we are already seeing the ripple through effects of how this will affect everyone's return to office plans. new york city is the hub of finance. the leaders of these industries have been particularly militant and hardlines about the desire to see their office hours again, one thing to stop skyscrapers again, but their desires are not going according to plan. even as they had people coming back in, they now are being set up to have to deal with employees who are anxious and worried again, and in many cases, they are having to send people back with pockets of various hedge funds or b

citigroup and citadel have issued similar guidance.of the united nations is calling for a "impartial and transparent investigation into last year's massive fort explosion in beirut. the august last devastated the lebanese capital, killing at least 216 people and injuring thousands. the explosion was caused by the detonation of hundreds of tons of ammonium nitrate stored in a warehouse at the port. apparently with the knowledge of senior politicians and security officials who did nothing about it. hong kong's leader, carrie lam, is pushing plans to revive a controversial security law that ignited a political firestorm. that after candidates loyal to the chinese communist party won a landslide victory in legislative elections. while the former british colony reported its lowest ever voter turnout, 30%, the result empowers lam to pass once difficult legislation unopposed. global news 24 hours a day, on-air, and on bloomberg quicktake, powered by more than 2700 journalists and analysts in over 120 countries. i'm mark crumpton. this is bloo

citigroup told staffers in the new york metropolitan area to work from home over the holidays if theybal news 24 hours a day, on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. i'm justin morton. this is bloomberg. guy: thank you very much, indeed. as you just heard, citi adds to the list of companies telling their employees to work from home again. meanwhile, carlyle says reopening is the solution to rein in inflation. the firm's head of global research, jason thomas, joins us now. let's talk a bit about inflation and understand why this time might be different. we have had a huge pivot over the last two or three months in terms of a narrative we've heard from the fed. it seems to have come after jay powell was reappointed. he certainly seems to have started discarding his dovish wings and may be taken on his hawkish horns. it is not by accident. every but not on capitol hill, it seems, and the president, is asking for the fed to deal with inflation. how different a narrative is this, and how should the markets think abou

lou citigroup is facing an investigation in the u.s. -- lucid group is facing an investigation in theg churchill capital. there are also probes and other people you -- eeev makers. global news 24 hours a day on air and on bloomberg quicktake, powered by more than 2700 journalists and analysts in more than 120 countries. this is bloomberg. manus: laura, thank you. laura wright in london. coming up, omicron spreads to russia, prompting fresh restrictions across europe and the u.s. the eu health minister discusses the bloc's response. that is next. this is bloomberg. ♪ >> for us, the boom will drive our growth in this region. electric cars that we are bringing here will also drive our growth. what we really want to do is not to do electric asia and in any reason -- region for the sake of electrification, we want it to be pulled by the customer, not pushed by us. we announced last night on our 70th anniversary, to give driving excitement to the customer. manus: but you need a cultural and info structure change to deliver that ev, and that is the essence of driving ev strategy. >> yes. if

dan ives at wedbush, another at citigroup which raised their price targets and implied a $3 trillionket cap. that was a 12 month price target. here we are nine months later, staring down the barrel of $3 trillion. some interesting changes coming at the end of the week in the nasdaq composition. they are reconstituting the index, six new stocks going into that. that includes airbnb and lucid. trip.com, the big chinese travel agency, this has really gone nowhere. this will be reflected monday morning when you come in. jonathan: thank you. from new york, futures up around 10 on the s&p come up 0.2%. apple and the $3 trillion market cap very much insight. from jp morgan, they are the new big bull on the street, looking for 2.10%. lisa: we've got to get dan ives back on, ask him if he has a change. jonathan: he's been bullish basically the whole way up on this run. mike collins going just -- mike collins joins us now. using maybe we have seen the peak of yields at the front end and the long end on tens as well. walk us through the framework right now. would you all get around a table toge

deutsche bank is out, citigroup's at 2%. there's a lot of daylight in between. james, thank you for joining us. guy, you could say that for basically any forecast, coming to the bond market or the year-end, there is a lot of uncertainty and not a lot of consensus. guy: normally year ahead forecasts kind of circulate with a huge spread and i think people are really struggling with it. but i think the inflation story is, at the core, what we are talking about here. there is a big difference in outcomes for assets if you look at the various estimates and how the fed is going to react. yeah, on the upper end i think life is going to get interesting. the narrative that we are talking about will be the market having to pay a lot more attention. kailey: the bond market doesn't seem to be paying much attention. positivity of around 1%. stay with us on tv and radio. this is bloomberg. ♪ laura: president biden today unveiling the steps the government is taking despite the resurgent the pandemic -- resurgent pandemic. tests will be being sent to american homes in the milit

citigroup is calling for a radical drop in prices.s research arm recently predicted the 2022 average will be just $2.88 a gallon. that would be down from this year. but we do have to emphasize all of these forecasts are just that, they are forecasts. it is very difficult, poppy tork accurately predict anything in the covid economy. >> if i believe anyone's prediction, it is yours, matt. i promise you that. let me ask you, whats would the point then big picture, long-term, of releasing that oil from the strategic petroleum reserve? >> well, i think there are maybe a few points. one, there was a political point. president biden is under a lot of pressure to do something. so he did something. he went and he announced the largest ever release of barrels from the strategic petroleum reserve. and, rumors of that release did cause oil prices to drop by 10%, they went up a little bit on the day he announced it and then fell sharply because of omicron. there was also perhaps a diplomatic point there, trying to pressure opec and opec's allies t

run a code clark is here from citigroup global markets -- veronica clark is joining us.e are seeing increased bets right now on a hike from the fed. is your interpretation of the job market good or bad? >> the headline number was a bit softer than expected. the most important take away is that labor supply is still an issue here. the drop in the unemployment rate was very notable, and this is a much tighter labor market. our base case is for the first hike in june, but it could be earlier. guy: veronica, what role will omicron and delta play in that calculation in your mind? a former member of cite type, now with a bank of england, making a speech earlier on suggesting maybe the bank of england should wait -- a former member of citi, he said maybe the bank of england should wait because he does not know the impacts the latest weibel have on the economy. how does that apply in the u.s.? >> there is still a lot we do not know about the virus itself. but i think what we have learned are each wave of covid is that the economy is more and more resilient with each wave. if we

citigroup calling for a radical drop that lowers oil below $60 a barrel. that's from 72 today. we have seen natural gas prices get cut nearly in half. that bodes very well for home heating costs. there's glimmers of hope on the supply chain front, a major driver of congestion. port congestion is easing. sky-high shipping costs are coming down. also, deliveries are speeding up, albeit from very slow levels. it may not get back to normal any time soon. here's how one economist at moody's analytics summed it up to me. i'm increasingly confident that the worst appears to be over. that's a big deal. because if the supply chain mess finally starts to get cleaned up that should take pressure off inflation. >> so, matt, one of the structural things that has happened that will take time to understand is the number of people leaving their jobs. some call it the great resignation. that reached record numbers in october. and it says something sort of specific on the macro level. what do you take from it? >> well, it really shows this job market is absolutely booming. there's 11 million job

citigroup is telling new york and new jersey staffers that they can work from home again.ting a deadline on that. others are doing the same after a spike in cases here and whether it warrant as more conservative approach to work. let's go to charlie gasparino. this represent as big 180 for some. what's going on? >> morgan stanley with the biggest brokerage sales force in america. 18,000 brokers. financial advisers that deal with small investors. they're telling the brokers in new york city, which a lot of them are located, don't come back to the office until early january. as a matter of fact, if you can meet with clients, keep the meetings small or rethink them altogether. that is a big 180 for morgan stanley. the ceo said if you didn't come into the office, you might be in trouble. he was posting a labor day deadline for getting people in the office. so this is a huge 180 at morgan stanley. what i'm hearing from gold plan sacks and j.p. morgan is that a lot of the same stuff. they're rethinking their return-to-office policy. >> neil: they're all doing it. apple and googl

we will get some names that could be attractive following the big sell-off >>> citigroup getting moreullish on apple, but we'll hear from an apple watcher who says the supply chain could cost the company billions more than some thought. analysts getting busy before the holidays we are looking at the biggest calls of the day and asking our panel if these stocks are a buy. we begin with kristina partsinevelos. >> as you pointed out, markets are higher today and we have actually reversed the losses from monday's sell-off volatility is the name of the game usually december tends to be quieter because traders are on vacation, less big news, but december has been the most volatile stocks for 2021 starting with food, staples, biotech, media, semiconductors you can see it is trending lower, but i want to focus on semiconductors for a second because micron is down today that's after the best day in more than a year just yesterday after the company presented a surprisingly optimistic outlook for the memory chip market nvidia trading pretty much flat to the upside. amd and micron, two of rosenbl

but i did notice today we saw quite a bit of bank of america in addition to citigroup so from my perspective like picking individual stocks bank of america and wells fargo are on the top of my list. >> bono. >> i like jp morgan and morgan stanley. i think they hit the nail on the head and they're working through the integrate of e-trade and everything else. but i think once they get through that, i would look out i think there is upside there. >> tony, good to see you we will see you on friday. friday being the full "options action" show catch that friday at 5:30 p.m. eastern time spend new year's eve with us, or part of it it is time now for the final trade. so let us go around the horn steve grasso >> apple is going to be my final trade. i've been long this thing forever. not as long as pete has been i think it is big for a.v. and v.r. and hardware. but apple, final trade. >> again with the white board. can't take that thing away from you. bono wynn? >> all of this talk about rates and inflation and no talk about dxy, i think it is been ignored. take a look at the dollar. >> pete najarian.

in new york the bank citigroup telling its employees once again work from home. a number of broadway shows being cancelled because of breakthrough infections among the casts. a growing number of universities moving their finals online. now you've got another list, princeton, nyu, middlebury college in vermont. and the data coming out of the united kingdom is alarming because they're a few weeks ahead on this. today the united kingdom reporting a record number of cases. 88,376, which is the highest number of cases since the pandemic began in the uk. the outbreak there growing so fast that today the queen cancelled her pre-christmas family lunch. this onslaught comes as we are still learning about just how effective the vaccines even are against this new variant. just today a cdc advisory panel recommended pfizer and moderna's vaccines over johnson & johnson's vaccine. that's really significant because you're looking at 16 million americans who got the johnson & johnson shot. but one thing we do know is that hospitals are already hurting. just listen to one doctor

we will get some names that could be attractive following the big sell-off >>> citigroup getting moreupply chain could cost the company billions more than some thought. analysts getting busy before the holidays we are looking at the biggest calls of the day and ask

citigroup now telling workers in new york and new jersey, you want to work from home, go ahead and work from home. jpmorgan chase, morgan stanley, also advising those who feel uncomfortable working in the city go ahead work at home. implies at jpmorgan chase, people visiting the building, better be vaccinated. here we go. charles payne. charles: thank you very much, neil, my friend. i'm charles payne. this is "making money." the tech wreck began with profitable names. now gobbling up with the most profitable names in the stock market. is this more than profit-taking? after the fomc gathering reverberations are being felt. what if i told you jay powell thinks it is still transitory. i have buyen brian wesbury. nancy pelosi says, five million dollar tech trade ahead of the bill was unfair. we're talking about leveling the playing field were jim bianco. rivian the darling set to report after the bell. it went into the from thes to fear. most of the other went into a ditch. should you be buying any of them. so much more on making money. charles: the day after, wall street is sleeping own it

you can look out a couple years, citigroup i think will be a home run.line and trying to say if it's consensus or regulatory cloud is clear enough, the strategy really plays out over the next 12 months or considers to be 24 or 36 months >> when we talk about disruption from new players in the thin tech players, clearly on payments, the big banks not necessarily missed the trick definitely missed a big creation of market capitalization that sort of happened a bit in terms of retail brokerages as well are there areas over the next one-to-three-to-five years that you fear for, for the big banks or do they fight back a bit? >> i think besee that they did fight back especially some of the payments and buy now, pay later from some of the credit card funded stocks they were late to the punch. they got it. i think when it comes to payments and the efforts at borrowing, being the providers of credit cards and already being in the payment flow gives them a position to be n. guys especially like b of a and j.p. morgan will spend to get up there. i think the story o

katryna: i would like to pass it off to the executive vice president of global government affairs at citigroupnk you. i represent the business side of the u.s. glc. we, in addition to these partners, we have quite a few not just large businesses, but small businesses that are part of u.s. glc and part of the effort, as you laid out, is to help with education to drive some of the activity you are trying to inspire with small businesses. but i would like to ask and throughout an additional comment that as you look at large partners, think about how we can be helpful working with the small partners. there is an existing program at treasury that has been set up that might be useful to take a look at to get some partnerships . as you think about how to use large partners, to help bring on capability and scale up for the small partners that are not going to have that capability. that is something i throw out as you think about your options. samantha: i didn't know about that program and the analogy is intriguing. the statistic i offered showing the paucity of local partnerships, it may be a little m

citigroup is looking to make moves in china.ank reportedly applied for securities license in the country and plans to apply for a future's license in the coming months. it says it plans to hire around 100 people in mainland china and the move coming as other global banks rush to set up businesses in beijing at the ccp listed restrictions on wall street following the 2020 trade deal between the u.s. and china. the ccp helping wall street lobby for prochina policy. the cost of inflation takes a toll on americans in a big way. a new poll reveals nearly half of all households are facing hard times as prices go up. lower income households are hurting the most with 7 in ten families making less than $40,000 a year saying that they are experiencing hardship as they pay 50% more for the price of gasoline and some foods among other spikes in prices. inflation soaring to a 3 decade high in october. up 6.2% from a year earlier. we are just getting started this morning. big show this morning. it is job's friday. but coming up next we are lo

morgan, citigroup coming into the region as well, focusing more on china as the chinese president opensh is a multiple trillion dollar economy and business for the banks in that region. haidi: our bloomberg asia finance reporter in sydney. let's get you a check of the business headlines. morgan stanley's asset management division more than doubled the size of its japanese portfolio, aided by an increased appetite for funds strong on esg. investment management rose to $58 billion. assets worldwide are worth around $45 trillion and could grow to $50 trillion by 2025. gamestop shares fell after a reported mixed third quarter earnings. results showed a larger than expected loss, but sales were above estimates. that rose $1.3 billion. the companies says it has tried to frontload investments in inventory to mitigate supply chain issues. apple is on the verge of reaching a $3 trillion market value in less than four years after surpassing the $1 trillion mark. shares rally to another record high, taking its valuations beyond the market cap of germany's entire stock market. activity indicated a

citigroup calling the report quote one of the biggest whiffs in recent history.ere's the ceo earlier on "tech check. >> i would love to personally tell you the impacts out there and everyone is feeling is a primary driver but i don't think that's it. the piece missed is a place over the last year or year and a half sort of fulfilling demand and always done in the past is generated demand driving success and as a field go to market organization we pulled back from that and shouldn't have and that's my responsibility to quickly get back on track as we will and return to the strong growth of pre-pandemic. >> you could read more of wall street reaction right now on cnbc.com/pro and then dan ives is an analyst to cut the rating on the stock today down 43.5%. >> unbelievable. >>> controversy in the kingdom draftkings falling as the ceo has sharp words. the brewing battle in lionne betting when we return >>> welcome back down across the board but with a little bit of a bounce in the last ten minutes down just half a percent on the dow and 2.5% on the nasdaq let's check

morgan and citigroup and jeffries. investors are worried we'll see a lockdown or potential restrictions that could put a crimp into the economic growth story once again. it's what is playing out. on the build back better agenda you would think that would be a positive because it won't be stoking inflation if it is in fact dead. but the truth is when you have a massive $5 trillion plan you are talking about a massive stimulus to the economy and without that stimulus money in the economy, there could be some people thinking let me sell now given the fact we won't see the stimulus given joe manchin's pushback on the plan. >> dana: speaker pelosi said there is no reason for members of congress to be banned from trading stock. alexandria ocasio-cortez always has something to sai. this is what she said and get your take. there is no reason members of congress should hold and trade individual stock when we write major policy and have access to sensitive information. many ways members can invest without doing conflict of inter

ebrahim rahbari, citigroup head of fx analysis.the fx space. i was reading something earlier on the bloomberg terminal that katie wright felt wrote about the s&p 500 and the bear case. we know a lot of people are bullish on what the s&p 500 could do next year but the idea is in the story we heard a lot about, inflation start to -- starts to take a bite out of corporate earnings and market valuations. paul: as you go into 2022, there is cautious optimism like we hear from a lot of people, a lot of strategists and fund managers before there were a lot of headwinds you could put into your wall of worry if you will. rising interest rates, it has been a long time since this had to perform in the face of rising interest rates. we have the pandemic and uncertainty associated with that and you have slowing growth as carl riccadonna said. slowing growth. then you bring up a good weight simply about corporate profits which have been so strong over the last several quarters and have really supported this market. romaine: and we should point o

. >> recalling reopenings, apple the latest to delay returning to the office, citigroup telling new yorkk from home for moe liys re "squawk on the street" straight ahead. where's mom? she said she would be home in time for the show. don't worry, sweetie. she promised she'd be here for it. ooh! nice shot! thanks! glad we have xfinity, with wifi speed faster than a gig! me too! woah, look! mom is on tv! she's amazing! (cheers) xfinity brought us together, after all! power your whole home this holiday with wifi speeds faster than a gig. click, call, or visit a store today. sing 2 >>> mcdonald's reaching a settlement with steve easterbrook. kate rodgers has the latest. >> good morning. mcdonald's reaching that settlement with the former president and ceo steve easterbrook, who has returned equity awards and cash currently valued at more than $105 million, which the company says he would have forfeited had he been truthful at the time he was fired in november of 2019. now as a result, he would have been fired for cause instead of without cause. easterbrook was accused of having affairs with f

citigroup now telling staffers in new york and new jersey, they can also stay home jeffries asking workersrom home after a spike of nearly 40 covid cases. morgan stanley giving employees the option of working from home. this all comes after about a third of office workers were back in the office now that partnership extending. you've got empire and others all down with over 90 million feet of space. the longer people are out of the office, the harder it will be to bring them back. >> robert frank. the story that keeps on giving we hope to see you later on this week >> when we come back dr. gottlieb will tell us about the latest on the medical front we'll be back after a quick break. the living room slash yoga shanti slash regional office slash... and this is the basement slash panic room. maybe what your family needs is a vacation home slash vacation home. find yours on the vrbo app. retirement income is complicated. as your broker, i've solved it. is a vacation home slash vacation home. that's great, carl. but we need something better. that's easily adjustable has no penalties or advisory

citigroup by the way is doing the same around the holidays.the beginning of the new year. the banks have been pretty clear. they want folks back in the office. then there is this, one lucky winner stands to start the new year off right. the power ball jackpot climbs to $500 million. the next drawing set for tomorrow, the first day of 2022 which is good for your taxes. you've got a whole year to figure it out, right. nobody hit all six numbers wednesday. there's been no winners since october 4th. all of 2021, six major jackpots for a total of $2 billion in prizes. well, china's foreign minister is warning that the u.s. risks paying a, quote, unbearable price for supporting taiwan. the comments follow a spokesman for beijing's taiwan affairs office warning that china will take drastic measures if taiwan makes any moves towards independence. joining us now, senior fellow, good morning to you. your reaction to the latest war of words from china. does this equate to military action down the line from china? >> good morning to you, cheryl and happy

she's reportedly turning to wall street and silicon valley for policy advice, microsoft president, citigrouphat she's reached out to, this is her approval rating sits at 44%, 1% higher than president biden. disapproval 54%, excuse me, matthew, your reaction to that? >> well, vice president harris outreach to silicon valley is as response to the border. we are in serious trouble for that but, yeah, of course, i think this is an attempt to distract from the myriad of failures that vice president harris has, i think at this point with her office clearing out the staff, everyone is leaving much sooner than would happen in a vice president's office, she's looking for someone to talk to and she's more than happy to be piling up with wealthy executives. cheryl: well, one of her former staffers when she was in california called her a bully, that's pretty damaging. matthew, thank you for being here, great perspective from you. >> thanks, cheryl, have a great day and happy new year. cheryl: happy new year. all right, well, this isn't going to be so happy in the new year, poll, i hate to bring bad news