scott gottlieb. plus a shocking decision by the bank of japan shifting target rate for bonds and sending massive ripples through the currency and yen market. a little 101 coming up. >>> and tesla stock down overall 14% in a week, close to 30% this month and over 60% this year is this a fundamental flaw i'm melissa lee and this is "fast money" and on the desk karen, dan, guy. a four day losing streak the major averages finishing with nine of 11 sectors in the green. we'll dive deeper. and that shocking move by the bank of japan coming up. but we begin with the covid fear on the radar of the u.s. state department a growing wave of the cases in china as they struggle to deal with a large undervaccinated population as we come into the holiday season former commissioner dr. scott gottlieb warning this could be a long winter for china and a worse spring here in the united states let's bring in dr. scott gottlieb dr. gottlieb, great to have you with us. how bad will it be in china? can china do anything rig

scott gottlieb about the potential new covid rules for travelers from china.will be right back. ♪♪ hey dad, i'm almost out. i got you. any questions, chris? all good, thanks maura! healthier is managing all your family's prescriptions in one app. to adapt in a fast changing world, healthier is managing all your family's prescriptions you could hire a professional pit crew. go, go, go. sorry. nope. okay. fresh donuts - hot coffee! they deliver real time data and business forecasts when you need it. i think it was fine how it was. (air tool sound) to help you stay ahead of the curve... or you could use workday. the finance, hr and planning system that helps cfos make better decisions faster. on the other hand, we had a great fourth quarter. for a accelerate your decision-making world. workday. for a changing world. >>> good morning, three days and counting until the end of the year, futures pointing higher as we make our way toward the opening bell still, all major averages on pace for their worst year since the financial crisis tesla feeling some serious pain a

scott gottlieb. a lot of the west has been asking china to open up, but at the same time we're seeing this remarkable surge. dr. scott gottlieb suggested he doesn't think the surge is going to be a one or two-month situation, but may last six months or more. that's got huge implications for the supply chain and costs for americans and others throughout the world. i think that what we're seeing is the beginning unfortunately in terms of the covid wave. there may be multiple waves in china and the question is westerners or others who want to do business in china, yes, it may be open, but folks might not want to go there. then there's the secondary issue of folks from china wanting to go to other parts of the world and whether the variants in china are more contagious or less contagious and we don't know the answer. that's why the u.s. is being so cautious. >> lots of worrisome headlines there. there's the economic impact in china to be sure, but these are people's lives and there's this growing fear th

scott gottlieb is concerned about this and as work, there's plenty of infection all around the world.ion is , is there something else spreading in china that we haven't seen yet so far ? we don't believe that's the case, but that's the unknown. so we'll have this information. we'll have this information because i'm going to go and take it, not because china is sharing it. i mean, there was a report today out of milan that a plane coming from china, more than 50% of the people had covid. so that is a concern as they travel all over the world. >> look, i think what you hear from scott gottlieb is right. you can't necessarily or even reflexive trust the word that comes out of the chinese communist party. i mean, as of today, for the duration of the pandemic, this is a country of one point four billion people. they claim just five thousand have died due to covid. those are not numbers anywhere else. and so i think we should start with the operating posture of skepticism for the words that come out of the party. there. the realities for xi jinping are that he had a tremendous amount unrest

we -- look, i think what you hear from scott gottlieb is right.sarily or even reflexively trust the word that comes out of the chinese communist party. as of today the duration of the public $1.4 billion. they claim just 5,000 have died due to covid. those are not numbers seen anywhere else. and so i think we should start with the operating posture of skepticism for the words that many do out of the party there the reality is for xi jinping is that he had a tremendous amount of unrest in recent weeks. and this all emanated from, remember earlier in the year in shanghai, the scenes of draconian lockdowns in mid march. those continued in cities throughout china. and then it was in the western province of china in late november that there was an apartment fire that killed 10 people. chinese emergency personnel couldn't get to that building in the g jing jiang region becausef covid barriers. started massive waives of unrest in the country. this came as people were seeing the world cup as well. the chinese were feverishly trying to cover up people's fa

scott gottlieb is going to join us.we're going to talk about drugs for diabetes and obesity that have become popular a little off label too for those looking to do more and some looking i should say to lose a lot of weight all of this causing shortages of some medications we'll talk about it after the break. it's called ozempic. >>> the ftc suing microsoft to block its activision purchase. will the deal happen or is it over deilonhastig aadtas tt rahthe hello, world. or is it goodbye? you know, it seems like hope and trust are in short supply. [clap] now, as businesses we can blame and shame. or... [whistles] we can make a change. [clap] we can make work, work for our communities. create more equal opportunities. [clap] it's time for business to show its true worth. because it's not goodbye, world. it's hello, team earth. [clap] >>> it's amazing the doctor who prescribed it is amazing. the most innovative weight loss guy. it's been life-changing for me i'm not hungry anymore >> that was fanatics ceo michael rubin on wed

scott gottlieb you can get the best of "squawk box" in our daily podcast.ur favorite app and you can listen 'lbeig bk.time wel rhtac thing, it's making me get an ice bath again. what do you mean? these straps are mind-blowing! they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. >>> welcome back to "squawk box," everybody. you're looking at some festive moves for the market this morning. the dow futures are indicated up by 263 points. s&p 500 futures up by 21 the nasdaq up by 48. this comes on tomp of gains yesterday. >>> the nfl is finalizing a deal for the rights to its subscription only package of games known as sunday ticket with google's youtube tv it's been held by direct tv which has been paying $1.5 billion annually. the terms of the latest deal aren't clear yet reports say the nfl has been seeking a buyer willing

scott gottlieb is former fda commissioner and pfizer board member. we welcome you back, dr. gottlieb. >> thanks a lot. >> the white house says this is the worst flu outbreak in a decade. rsv, covid, they're surging. 77% of icu beds in the country are currently full. how dangerous are these next few weeks? >> it's going to be a difficult few weeks. we're right in the thick of respiratory pathogen season the worst in recent memory. it's being driven largely by flu. this is an historic year for flu. covid is exacerbating that. we have an epidemic of rsv, which seems to be abating. fu is peaking in some areas, decreasing in the south and rising in the north. covid is contributing to that. it's pressing families and pressing hospitals, as you mentioned. 80% of hospital beds are mentioned. the hospitals haven't been this full since the peak of the omicron wave last winter. the difference is that last winter 25% of those hospital beds were filled with covid admissions. right now only 6% are filled with covid admissions. a lot are flu admissions and other respiratory pathogens, all

scott gottlieb about the viral trifecta of rsv, flu and covid crippling the country. >>> it's all just ahead on "face the nation." ♪ >>> good morning. and welcome to "face the nation." as the country wraps up year-end business and prepares for the holidays, there is once again a crisis at the u.s./mexico border. typically the influx of migrants seeking a better life in the u.s. comes during a warmer weather, but a pandemic-era rule that allows migrants to be expelled on public health grounds is set to end wednesday. that rule is called title 42. that's putting added pressure on border cities like el paso, texas, and yuma, arizona, where states of emergency have been issued, as well as in cities like denver and new york where border state governors have been sending those migrants. we begin with west virginia democratic senator joe manchin. he is in charleston. good morning to you, senator. >> good morning, margaret. how are you? >> i'm doing well. i'm glad you could join us. you wrote this letter to president biden this week, saying there would be a complete loss of operational control

scott gottlieb on the worsening, even as that company loosens some restrictions. and we'll find out what it all means for already nervous investors.

scott gottlieb will join us on whether investors will need to be concerned about that especially whenwe're just talking about the reopening or loosening of restrictions there. he's going to give us a reality check on exactly what's happening. and k.c. newton,too, he'll be here on the darkening skies in silicon valley that instacart valuation marked down today, was $39 billion last year, marked down to 10 today. that reckoning is still coming in the valley. those private valuations are a lag and we'll talk about all of that and i hope you'll join me then all right, kari, give me your final trade here >> i'm sticking with the as. american waterworks, the leading public water utility, the stock took a hit when interest rates started to go up and we see it recovering and we see water as a continuing high demand as far in the future as we can see >> okay. rob? >> danaher great compounding growth company in a health care sector that can self-fund, if it gets to be a difficult financing environment. it's down a lot. more reasonably valued >> okay. joey t >> rob, i heard you screaming for hea

scott gottlieb markets going to be paying attention in the weeks ahead >> it's hard to game it out.hink about when omicron showed up black friday of last year. people assumed, i think, that it was going to be another kind of lockdown episode the fed, in my opinion, actually continued to go slower toward normalizing because they didn't know what was going to happen then it was almost an easy money fix. the market did not actually have a sustainable selloff for another month and a half so, i don't know if we're going to get any of that offset this time the fed's not going to go easier just because china has some backsliding in its reopening, if it does. >> it's going to be one to watch. also probably worth watching, your drug maker and vaccine names like pfizer, like moderna, because yes, those are not -- you don't have the mrna technology in china, but you do have those reports surfacing that chinese can travel to places like hong kong now to get some of those vaccines and some of those treatments. so, i think probably also something to watch as that develops >>> still to come, it ha

steven roach by the way, we've also talked to former fda commissioner scott gottlieb about china andid zero scrapping and he raises the -- the possibility that new variants will come to our shores with this lifting of the travel restrictions. that certainly seems to be the case there could be further spread to other countries including the united states. we saw those stocks rally as if this is just like the reopening we saw here, just like the reopening we saw in europe, steve. what do you think? >> so, steven said that just because they lift the covid restrictions doesn't mean that growth comes back. but to your point, that could mean that the stocks will, the reason that we haven't seen -- every time they say they're lifting the covid restrictions, they bounce but they bounce less because people and investors are starting to come numb every time they say it again and don't meet it i will tell you, the conspiracy theory of the night for me and probably of 2023, you can't invade taiwan if you have covid restrictions on. so, for me, i think that they're starting to gear up maybe -- ma

it was six >> you heard scott gottlieb here yesterday, there's way, way more than they're telling us.numbers that ever come out of china, but especially these numbers? >> right three-year total is something like 1500, they say. which if you were the ccp, you would be like, global pandemic, we've lost 1,500. >> i don't know who they're fooling. they're not fooling us or anybody internally people are going to know more people than that people are going to know people in their own circles who have passed away. >> or the smoke from the crematory. >>> a recent report suggest that is the bureau of labor statistics might have overstated job growth in the second quarter by a million jobs. once again, steve, i could take that as a good thing or -- it could be good or bad maybe the fed doesn't need to be quite as mean, quite as grinchy. >> yeah. you're absolutely right, joe there are huge monetary policy implications for this. first, we need to understand what's going on. this new data series creating some economic and political controversy by estimating the national job growth might have been

scott go gottlieb about this yesterday. there are other varioants, too. >>> coming up, we will talk market strategy with two trading days left in the year. dow looks like it will open higher 85 points. nasdaq up 96 s&p up about 18. >>> later, we dig into the rough month for apple. down 16% since the start of december you are watching "squawk box" and this is cnbc the first time your sales reached 100k was also the first time you hit this note... ( screams in joy) save 20% with the lowest transaction fees and keep more of what you make. with a partner that always puts you first. godaddy. tools and support for every small business first. you ok, man? the internet is telling me a million different ways i should be trading. look! what's up my trade dogs? you should be listening to me. you want to be rich like me? you want to trust me on this one. [inaudible] wow! yeah! it's time to take control of your investing education. cut through the noise with best-in-class education resources that match your preferred style of learning.

in october scott gottlieb and mark mcclellan two republican former fda commissioners under republican administrations wrote that our legislation represents, quote, a once-in-a-generation reform. they concluded their article and said, congress should seize this opportunity to achieve long awaited reforms that modernize fda regulation, promote innovation, and provide consumers greater assurance that the products they use are safe and reliable. i understand that some oppose the inclusion of my bipartisan legislation in the year end package. i'm willing to work with any of them to overcome their resistance or to take their suggestions very seriously. but let's not move this package to fund the fda and miss this opportunity. consumers have waited long enough. the fda needs to know what supplements are on the market and what's -- and what its ingreed ends -- ingredients are to protect consumers. that's at a bare minimum. i ask consent that the statement i'm about to make be placed in a spat part of the record. the presiding officer: without objection. mr. durbin: thank you, mr. president. m