As the rush for pre-holiday Covid tests continues, new studies suggest that omicron may have lower hospitalization risk than other Covid-19 variants. CNBC’s Meg Tirrell discusses the new data as well as the FDA’s approval of Pfizer’s therapeutic pill and the other oral treatments that could come in 2022. While the variant puts extra pressure on an already squeezed supply chain, Transportation Secretary Pete Buttigieg provides an update on the nation’s supply chain bottlenecks and collaboration between the Biden Administration and the private sector to keep the holiday season running smoothly. The holidays are different this year, but some traditions live on, including tracking Santa’s Christmas Eve journey around the world. U.S. Air Force Capt. Sable Brown, public affairs officer at the North American Aerospace Defense Command, discusses NORAD’s 66th year tracking Santa Claus’ journey around the globe, with a little help from Rudolph’s nose. So, pop the bubbly--if you can find it! Ray Isle, Food & Wine Magazine executive wine editor, explains why champagne may be hard to come by this holiday season. Plus, he offers a few sparkling recommendations for your liquor store trip: Segura Viudas Brut Reserva Heredad Cava ($60/Magnum), Champagne Alfred Gratien Brut Rosé ($70), and, for the festive splurge, Champagne Bollinger RD 2007 Brut ($300). Cheers! In this episode: Sec. Pete Buttigieg, @SecretaryPete Ray Isle, @islewine Meg Tirrell, @megtirrell Capt. Sable Brown, @usairforce Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie