it's an important part of nyse's revenue.out what, if anything, needs to be done >> first, i'm looking quite forward to sitting down with chair gensler and talk about a variety of issues. it comes back to transparency in my mind and liquidity and fostering good markets, transparent markets that provide good liquidity, good access to capital, and good public access for investors. >> is the average investor getting ripped off mr. gensler seems to imply that there's a problem here the data doesn't seem to support that, but what's your thoughts q. >> the cost of retail trading has never been lower and you've seen that continuing you've seen that actually as a result of this new emerging group of retail traders that has joined our public markets through the pandemic >> the floor of the new york stock exchange, i know it's an old question, is the floor going down or going away for 20 years now, what's your plans for the floor? >> that's a question i love and it's a question that i think is a tremendous amount parallel to the busine

there's also been a shakeup in the leadership of the nyse, where it was announced that president stacywould be replaced. today, jon fortt brings up close with a leader trying to provide stable leadership in volatile times at the nyse's rival. >> she's been ceo at nasdaq for almost five years now and in so many ways, her career prepared her for the challenges at the moment she was leading the efforts in data products 20 years ago and working remotely in a way before that became a strategic imperative she didn't also know she wanted to crime the corporate ladder though >> when i was a kid, i wanted to be an astronaut and so i thought that was just my destiny and i always looked up into space and enjoyed science. up until i kind of went into the more advanced physics and chemistry then i thought, hmm, maybe i'm destined to do something else >> just because it wasn't fun or you know >> i just think that i realized that the, that what my skills were more geared towards was i'm a very practical person and i decided that i could get a lot of the benefits of feeling like i'm in space i learned

>>> there's the opening bell and the crept nbc at the big board haggerty, making its debut at the nyse at the nasdaq, a big day for buzzfeed, the first publicly traded purely digital -- >> beware these have been -- i mean, it's interesting, it's almost like -- it's been wrong over and over again, yet there they are they tend to be great the first day, because someone who like buzzfeed may buy it. at forecasters are rye vising their forecast amazon and alphabet are the two big winners for that amazon advertising is pervasive. so is alphabet they talked about how it makes the site clunky either yes is doing quite well >> shopify is not on the list. it's amazon. a couple interesting points. a third, and as for fundamental long/short hedge funds, the typical is flat for the year hue any of not guys get their fees, continue with their fees at a certain point the 1%, it's embarrassing. it's embarrassing. so as always, it's always right. >> do you see the balance of december being -- >> no, i think there will be a christmas rally. if you try to get the jump on it, it's been -- no, you've got

and some predecessors have gone on to colorful endeavors after running the nyse >> i have my eye on a to launch a spac. for that's not in my plans. that's a competitive space but you'll see me soon >> i hope we still have you on >> i'd love to >> all the intelligence you bring to our viewers >> thanks, carl. i'll miss all of you so much to do. >> i don't think you're going to be far away. thank you. >>> still to come this morning on tech check, samsara making its market debut it's a thirteen-hour flight, that's not a weekend trip. fifteen minutes until we board. oh yeah, we gotta take off. you downloaded the td ameritrade mobile app so you can quickly check the markets? yeah, actually i'm taking one last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight. thanks. we'll see ya. ah, they're getting so smart. choose the app that fits your investing style. ♪♪ hey businesses! you all deserve something epic! so we're giving every business, our best deals on every iph

rishaad: just going to pick up with you and didi global, and the delisting from the nyse.ng in hong kong in march. i should bring in stephen engle, our chief north asia correspondent, he is with us. stephen: you just said, the top line is that didi is announcing it will begin the process of delisting from the u.s. stock exchange, a highly controversial listing in june when they sort of defied chinese regulators. regulators at the time urging didi not to go public on the nyse, they expressed their need to conduct cybersecurity reviews of their data. this is a ridesharing behemoth that dominates and has lots and lots of data. so didi was under pressure to do it, they did not do it. they went public and then shortly after that, regulators, we have learned, started encouraging -- that is a euphemism for ordering -- didi to begin the process of delisting, and that is what they are announcing now. they will delist from the new york stock exchange. no timeframe. simultaneously, they will start the process of listing here in hong kong. we have sources saying that the filing for a

in a moment, we will speak with the ceo from the nyse.ain issues continue to drive inflation up, resulting in an expensive holiday season with some questioning if this is the new normal. more companies telling their employees to go back to work remotely as covid cases rise. all that and more, coming up. amanda: a bit of a lackluster session, mixed actor across stockmarkets. in the s&p 500, you are seeing financials, utilities doing ok. health care as well. weakness for the groups that make up the tech groups. cvs is up on its outlook, so you are seeing some buying where investors feel it is warranted. as you mentioned, we are looking at a sizable ipo today. i look at the u.s. ipo's 42021. nubank ranks sixth on the list. we will be talking to the ceo in a moment. what jumps out to me is rivian, which slumps that all, even though it has little by the way of revenue or profit. nubank stands out in contrast to that, you might say. matt: rivian is just starting to roll out the product, have been developing the company for a decade, and now hav

of the internals, for example, number of new lows earlier in the week, double the new highs on the nyseith the s&p at a 52-week high. only happened a few times. all of them in december of '99 as people look to analogs to that period, is it too glib or are there real similarities to that period? >> i think there's a little bit of know your index here and how it relates to how it's traided n the nyse the work we did averaged that your average stock is off 11%, this is typical. it's very consistent with the historical pattern and that breadth issue under the surface often tracks with volatility the other thing i would say here, when you look at the s&p 500, 30% of the total index and those have contributed about 40% of the index gains said differently, the s&p 500 is trading up this year roughly on par with the core index. so that issue under the surface is less about the s&p 500 and more about -- the smaller mid cap asset classes. on the small cap front, you look at what's happened with the health care component this year, which is where you have a lot of biotechs they've really struggled

trades on the nyse name is doma holdings. >> lump of coal. most definitely.ornia michael. >> mr. cramer, how are you >> i'm good. how about you? >> doing well, thank you just real quick. i wanted to get your thoughts on mgm growth properties. ticker mgt >> i like it i think with a 5.5% yield and some good, it's got very good cash flow. so i think you have a winner and i'd stick with it. santos in new york >> the company pharmaceuticals, ticker ino >> no. came and went. forget it. stay away. don't want to touch it you shouldn't either how about marty in california. marty. >> yes hello there, jimmy my stock is ppgi >> no more blank checks. this has become, you have to understand, the world changing, the fed has decided to go against the bulls. and i know i cannot just continue to dig in my heels with companies that i think are going to lose people money because at one point before the fed decided to tighten, i may have liked it. i made a mistake i have to move forward same lessons of the investment club made a mistake explained the mistake, move forward. and th

we will begin with bob pisani down at the nyse bob, the dow staging a rally today.is a defensive rally. the problem is, how much farther can you go based on the data we have look what happened to the s&p. yesterday we closed within three points of an historic high tech was at a new high 2% off cyclicals like energy stocks and industrials and materials. we pushed it as far as you can go you can see this in the markets today. stuff that did really well in the last couple of days, biotech, the semiconductor index, smh hit a has historic high that's not doing well. health care has done well. that's why the dow rallied it has a lot of those names. pfizer, walgreens, mcdonald's, proctor & gamble, joing. that's moving the dow forward. s&p less weighted towards that cathie wood stuff, tech stuff. total round trip for the stuff that's active. >>> now to the bond market where yields were dropping over the last days until a 30-year auction went off poorly. how is it looking? >> look being the same as it did before the poor auction. but we did get selling if you look at an earl

and one other thing, no market closing this friday as nyse rule 7.2 stipulates when a holiday falls onaturday, the market will close on the friday before unless unusual business conditions exist such as the end of a monthly or a yearly accounting period. so here we are, we're open for business at the new york stock exchange monday through friday all week. let's do the floor show, shall we? scott bowman, thanks for joining us. >> good afternoon -- lauren: it's the scott show. scott shellady too. look at this, i'm so excited. we have both of you. scott shelladyty, what's going on with these vaccine makers? >> well, i tell you what, we probably should have a whole other show about that. i don't want to be a conspiracy theorist, but it's hard not to be when you've got so many things like that out there. i think that we're suffering from something called ctsd, covid traumatic stress syndrome, right? i think that you're starting to see a little bit of pushback on anything that's got anything to do with covid no matter how good or bad for you. i don't want to say there's something else there,

let's bring in bob pisani down at the nyse. this was priced in already or too strong a rally leading into it >> i mean, fauci was right on friday look, this is great news overall. this is what we get. this crummy market, but, again, it's anticipated that. efficient market hypothesis. look at the futures. 645 roughly this morning eastern time we got the news we moved 20 points immediately there is that little pop up and immediately we moved down again because people sold right into it why? because we already had the rally the last two days since dr. fauci spoke friday night, of course, talking about that he was optimistic about the potential for treatments on omicron. the market moved up 170 points in the last couple of days before that's like 3% huge move up in the overall market the important thing is trying to figure out, is omicron manageable or not? that's what the market has come to believe what does that word mean manageable look at the s&p 500. what does the word manageable mean the important thing is it implies that we

live from post 9 at the nyse >> they don't make those [ laughter ] they're very heavy >> i'm using the all starts at 9:00 a.m. eastern. ♪ the internet wasn't built to be a place of walls. but then the walls went up and choice became limited. until now. now we're in a new digital landscape of emerging channels, data-driven campaigns and measurable outcomes. welcome to now - the new open web. powered by people-based software from viant - a new standard in media. the upgrade marketers deserve. viant. built for now. ♪♪ >>> tomorrow, investing club members can talk to cramer live. >> it's exclusive access for my best ideas for the new year. scan this qr code and become a member of the cnbc investing club today >> tomorrow 12:30 eastern. >>> coming up. >> new data on how pfizer's vaccine stacks up against omicron. plus, the movement to unionize hits starbucks on "the news" minutes away >> the facts, the truth, "the news" with shepard smith next on cnbc ♪ >>> they say necessity is the mother of invention. but reinvention is what makes you a necessity. yet, companies almost never get enough cr

delivery giant grab has gone public in a $40 billion deal, a spac deal, and is now trading on the nyse the ticker grab. the company operates in eight countries. joining us now, hooi ling tan, grab's cofounder, and bloomberg's emily chang. emily: thank you for joining us. you are a long way away from those plastic tables you use to set up at gas stations to recruit drivers. this is one of the biggest spac's of the year. why spac, given the tumultuous year, and why now? guest: thanks for having me back. we chose the path that enabled us to get the best investors for our day one cap table. based on our investors that were attracted to the long-term growth opportunities we have seen and very low we gibson rate -- low redemption rate, we are extremely happy with the outcome that we have achieved. emily: you have turned grab into a super app. how worried about you about a resurgence of covid and omicron right now? hooi: i think a critical part of our strategy has enabled us to be very resilient to the covid challenges. to share a bit more about what it is, think about grab as uber, doordash,

mike santoli at the nyse looking at what has changed. >> yeah, john, the s&p 500 this morning basically completed a round trip from two weeks ago, the day before thanksgiving. but in this shakeout and this little scare that we got and also kind of a broader flight from risk that you saw in some of the more aggressive growth areas. here's what has shaken out, actually the nasdaq 100 you see it's down just a little bit. more flat this year but semi conductors have sort of reasserted leadership within the group. this is just over that two-week span and, of course, at the expense of software and more targeted cloud players in the dow side looking at yesterday's action in the semi conductor group we're seeing a lot of kind of aggressive, urgent grab for exposure a lot of hot money rushing in. it's definitely bullish. probably i think a lot of folks say on a longerterm basis it shows you that investors are very urgent and rebuild exposure to that area, even if it gets a little bit ahead of itself in the very short term, guys. >> that's such an interesting chart showing that leadership at an e

martin is currently the president of meantime sharon bow unwill become the chair of the nyse. >>> whenm, but it's the center of energy universe on this week. and brian sullivan is at the 2021 world petroleum congress, and will join us next. he's such a great sport, that he's going to tell us he's ready for this hit even before his big hit. what do you have coming up >> reporter: there's not a lot going on here, joe, because it's early, but later on you'll have a couple thousand of the world's leading oil and gas executives and employees representing hundreds of companies here first time the conference has been in america since 1987 this is an industry facing existential existence questions. we'll talk about that more after the break here on "squawk box" there's no single action that will lead us to carbon neutrality. but there is a single source of essential sustainability intelligence. s&p global sustainable1. uncover risk scenarios, reveal transition pathways, and optimize your net zero opportunities with our unparalleled data and insight. accelerate to zero with us. . >>> welcome ba

. >>> the nyse staging a big turn around yesterday, about 6% phil lebeau digging into what is drivinglines and a couple of things are taking place look at the big four in terms of international travel here in the u.s., we are talking about american, delta, jetblue because of services in the uk as well as united, all moving higher. why? we're not seeing the level of lockdown many people feared in europe and there is a growing sense that, well, covid may be raging around the world, we are not seeing the same reaction we have seen in the past when you had things like the delta variant that was spreading around at the same time you are seeing the number of people who are flying domestically, it still remains strong the numbers from yesterday according to the tsa down just 16% compared to the same time in 2019 all of this comes at a time when the faa is also basically asking the tsa, hey, look, when it comes to unruly passengers, we want you to take those who have been fined, not just those who have been, you know, reported, complained about, but those who ultimately were fined, about 315,

biggest laggard, down just about .8% here tech stocks have not gone anywhere bob pez sisani at the nysed stopped characterizing inflation as transitory, software stocks are down 10% cathie woods arc innovation fund down 4%. big names, all down 11% to 30% since powell turned hawkish. investors instead fled to cash or into apple. apple is up 8% since powell pivoted and it has become something of a safe haven for tech investors the fed's aggressive about face has called into question sky-high tech valuations on big names. jpmorgan software analyst sterling was on yesterday reducing ratings on adobe and a dozen other software stocks saying cash flow growth rates are the key to understanding the market he wrote, quote, this has been consistent since 2000 and brings into focus whether growth rates can sustain or moderate at a tolerable level to keep valuations propped up. this may be the first of many reevasions bank of america's internet analyst noted after a strong 2020 his internet stock was down 13% in 2021. he said, our b of a strategy team has a somewhat bearish view on the s&p returns

mike santoli is over at the nyse >> kelly, relatively encouraging in terms of the cadence this recovery, also that the market itself is responding to a setup which coming into this week looked like the prior five or so percent pullbacks we saw earlier this year. there were two of them in each case the s&p came back below the surface a correction of the average stock that all was in place. my take on how we are seeing it right now is in the morning everyone was wary of the continued force selling we saw last week. when it didn't materialize, then you could do the dip bye also, the return to this area right there, the highs from september nd we gave up about half of the october into november rally. all of that is relatively textbook look at some of the real beaten up areas, some of the excesses that have been purged in small cap growth, also cloud software. if you look at those things compared to the s&p 500, you see what happened here it's really an isolated exit fromthose types of areas we have been talking a lot with it that's the area that saw a huge run in the first quarter of this y

deborah nyse journey and what we did together starting out for fun, and now we're making wine commerciallyor beer and other beverages are also rising, primarily being caused by. a shortage of aluminum cans, glass bottles and once again those increased shipping costs here in sacramento, california giovanni luigi ktvu, fox two news, all right, thanks so much, giovanni. it is a popular show on netflix , looking at the drama surrounding a private zoo up next we'll hear from the oakland zoo about how the show tiger king is leading to a troubling new trend that's putting even more endangered tigers at risk. cloudier cooler day around the bay area this afternoon, and we're going to settle into this pattern for the weekend. better details on what you can expect details on what you can expect coming up. mrs. claus the shopping boss here to help you merry savers decorate with the best bargains ever! ross has savings on everything you need to get the party started. because who waits for shipping anymore? or guests?! i love saying yes to more merry for less at ross! hi honey! hi mommy! oh i missed you

deborah nyse journey and what we did together starting out for fun, and now we're making wine commerciallysed by an aluminum can shortage. once again that glass bottles, shortage and overall just those hydrants. rotation costs, christina. so do you have any this shortage? obviously creating a domino effect? what can people expect when they go out shopping to buy wine? absolutely christina. there is no need to panic. there's more than enough of wine. there's more than enough of alcohol in stores. if you do have a favorite wine, though, that comes from northern california or across the country because of those rising transportation costs, you could see the prices rise just a few dollars, so be prepared to pay a little bit more for whatever you're looking for. in germany, i wonder have wineries, winery owners had to stop production of certain wines because of all this. so andre, one of the one reason that i spoke to said that he has having trouble bottling the wine, and you know that can be a major concern. it can certainly taint the flavor of the wine, and it can almost ruined an entire batc

why leave nasdaq to go to the nyse? >> thanks, stuart and good morning.rsified our position and share hold composition. this move which believe nyse bring as human element we're looking for in the trading and we believe it will help as a management team and benefit our shareholders, cliff, i always think of garmin as the gps people. i think you were the first way back when. but now everybody uses their phone to do gps stuff. you, i think, your company moved on to smartphones. is that accurate? >> no, not really. we actually are what we would call an application of gps company. so everything that we do performs an important function that the user is interested in. so we make smartwatches. we make equipment for aircraft and boats as well as cars. we make a whole host of other consumer devices that use gps as one of its features but we're heavily focused on the application of gps in our products. stuart: crowded field though. you have competition to apple, fitbit and others. >> we try to differentiate ourselves from all the other major players. we do things

back usually i can't get jim as to top talking about stocks when we sit in our office at 3 on the nyset to talk about vaccines. >> i want to be a little bit hopeful. we go have a christmas rally going on david, i don't usually read the "defense one" magazine, but the u.s. army creates single vaccine against all covid and sars variants, researchers say. this is walter reed research, on a vaccine that works on everything they even think other strange to come, so, david, if you want something to cheer, it could be the u.s. army and what they're doing. this would be rather remarkable. who wouldn't want to be in that trial? >> a number of people have noted that story this morning, jim don't know if we'll have a broader impact and and don't have a lot of details, but to your point, something that would act against any coming variant could be quite helpful >> right so you get the pfizer, and david, what is the pfizer news scheduled? >> maybe later today. >> what time is the -- >> maybe they'll get the signatures later today or tomorrow morning i don't know i've given up on that. >> remember,

meanwhile, sharon berwyn has been named as the next chair of nyse, replacing jeff sprecher. j.p.n chase executive director patrick mccue has told ghislaine maxwell sex trafficking trial that jeffrey epstein wired tens of millions of dollars to the british socialite. mccue testified epstein sold millions of dollars in stocks on several occasions and transferred the money to maxwell. that's a look at some of the first word headlines. david: let's check in on some cryptocurrencies. not all, obviously. otherwise we would be here until the future of yesteryear. bitcoin back above $51,000. an attempt to everything together, but of course that means it is up and we are at the midpoint of today's session. yvonne: it went back to $50,000, going to how sustainable this is, given the crash saturday, but there's a lot of questions lingering on whether the bull run is over now that we are seeing the market measure and there is liquidity. let's get to our next test, holding onto his position when it comes to bitcoin, taking advantage of the dip and buying some more. bobby lee cofounded some of

we'll talk about oil prices, the board, when "squawk on the street" from the nyse continues in a moment. what's strong with me? i know when i'm ready for a rest day. ...so i can be ready for anything... tomorrow. find out what's strong with you with fitbit sense and daily readiness. so, you want evs, you have come to the right place. is that tom brady? yeah. he comes in to recharge, get software updates. you know. let's go! this is elodia. she's a recording artist. 1 of 10 million people that comcast has connected to affordable internet in the last 10 years. and this is emmanuel, a future recording artist, and one of the millions of students we're connecting throughout the next 10. through projectup, comcast is committing $1 billion so millions more students, past... and present, can continue to get the tools they need to build a future of unlimited possibilities. the street." i'm david faber on the houston campus of exxon mobil. a nice background behind you, by the way. i'm told it's the drilling fluids analysis that's going on. not what we're here to talk about today, but very glad we

. >> zenya making its market debut on the nyse.the company's ceo next. >>> italian luxury zegna group going public completing its spac merger you can see the stock moving higher joining us first on cnbc is gildo zegna and andre ya benomei. thanks to you both for being with us. mr. zegna, start with you, you're a public company now and so you're going to get questions like this one, which is, i notice that you're forecasting your core adjusted earnings before interest and taxes is going to move higher from 2021 to 2022 and 2023 higher at a rate that you've seen in the past, and i wonder, why is that? what is fueling your expectations of significant growth in the adjusted ebit. >> we have prepared to become a better company covid has helped us to get lighter in the cost and to come out with a new strategy, which is moving our brand from a power suit brand to a luxury leisure wear brand the lifestyle of the customer changing and i think this is the way to go. then we decided to consolidate our brand from three brands to one. our name

as the bell goes lower by 1.3% on the s&p 500 ♪ >> big crowd for the nyse here investors are now shiftingtrio of big earnings we're expecting results from snowflake. crowdstrike and pvh all coming up plus, dan niles will give us his take on the market volatility, which names he likes in the electric vehicle space in particular lindsay bell from ally invest is still with us. that was just an ugly close. i'm looking at some of the new 52-week lows disney, all three of the telecom companies are on there it really spans a number of industries >> that's kind of what you want to see >> when things are really bad. >> well, whatever it takes >> honestly, if you want to look for clues of people giving up on the idea that we're entitled to a year-end rally, maybe you're getting some today it's interesting because the absolute magnitude of the move today was not that dramatic. 1.2% we've been bouncing around here. but the fact that we started up over 1.5% higher that all got unwound so, you're looking for, you know, to buy into a crescendo of panic. you're starting to get a little bit in that direct

to give you an example, the nyse is owned by an exchange and they earn 3.6 billion dollars from revenue from the exchanges. google earns that in five days. senator lee: my concern is not with how much money they earn or how they do it and it's not unlawful to be a monopoly in this country but it is unlawful to acquire or maintain a napoli status through anticompetitive conduct. it's hard to imagine a circumstance in which one can own the exchange platform and also be a buyer, seller, rocher, dealer and whatever other positions they might occupy in the meantime. it's hard for me to imagine how a firm can maintain all of those positions without something anticompetitive going on in purpose and effect. ms. hein, you and your colleagues decided to sell your first company to an acquirer. can you explain why any entrepreneur would choose to sell their company rather than continue to build it with an eye toward eventually going public? ms. hein: yes, thank you for your question. the circumstances of each company are unique and it depends on how strong of a position one can build in the market.

as the cancellations rack up so do the equity losses the nyse ara is one of two indexes lower this week. if you can only imagine the frustration from people you are trying to fly, i know over the christmas weekend it was like 1.3 million travelers who had plans disrupted by the cancellations. if you're somebody trying to get somewhere, planning to go somewhere and the flights are happening like this. normally we are better than 99% in terms of getting the flights and getting things through right now we're more at 94% and that can only add to the air rage that had been out there the last year and a half or so. >> i agree but i'm going to put a different take on that i think there was probably a lot of rage and legitimate rage before christmas when people were trying to get to start their vacations and get home or whatever it might have been. on the way back, i think the rage might have been a bit lower simply because not many people have to get back to a physical office this week because it wasn't as much the end of the world if you had your -- >> you clearly don't have children yet i'm

maria: me, too you are in my old stomping ground this morning at nyse definitely a minority, when it have -- [laughter] >>, we can attest to that, we are very excited to be here. maria: i love it, tell me about the wines what kinds of wines are this what are you launching give a sense what the product is. >> yeah, it is an premium experience balanced we have a lovely cabernet -- noir, are truly amazing reserve that is coming soon napa reserve from very -- very excited about that, again increase our product being offerings down pipeline we are funded to do that. we have been talking inflation all morning tell me about pricing what people should expect, everything is costing more these days. because of the inflationary story. you know i will jump in on that, of course we are not -- we wording hard to price right price point worked to mitigate inflationary costs supply chain continue to do mitigate going forward we believe a great price point for zmooerz is this costing you mother producer prices are up i guess costing more to produce the product as well; right? >> you know, we like i s

great backdrop at the nyse with some great cars behind us and what we've been seeing for the last severalnd that's what haggerty is all about is we take care of those cars and we help kind of validate the love of the automobile out there. so we've been growing a lot which is one of the reasons why we went public and we're seeing a lot of growth out into the future. it's really been a special time and you're right, it's a pretty special day. maria: well, we've been talking about inflation a lot on this program whether it be from gas line prices to groceries. i want to look at insurance. when you look at insurance and all related insurance whether it's auto, home, specifically the insurance companies are also seeing serious inflation. i see that premiums are going up. what can you tell us about insurance from your standpoint in terms of premium and inflation? >> yeah, we're definitely seeing a lot of that type of movement in the big kind of standard property casualty market out there. people talk about shortages in the hospitality industry, there have been catastrophic events in the last se