Tech in the Red; Tests Out of Stock; Pizza-dillas for Take Out

Squawk Pod

CNBC

Business News, News, Investing, Business

4.2 • 543 Ratings

🗓️ 7 January 2022

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

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Summary

The tech stock darlings of the pandemic have finally hit a pullback. For the first time in five years, the Dow is outperforming the Nasdaq. The Fed’s signals for rate hikes on the horizon has prompted a reversal for high-growth cloud stocks, which could spell trouble for portfolios of tech bulls like Cathie Wood. Omicron is weighing on the markets and a group of former advisers to President Biden, who urge, “We need to do better.” Former FDA Commissioner Dr. Scott Gottlieb discusses test and vaccine distribution in the U.S., variants popping up all over the world, and the realistic longevity of this new normal. Supply chain issues are also hitting the pizza world; Papa John’s CEO Rob Lynch says, despite staffing, inflation, and supply chain issues, he’s kept his teams tossing pies every day of the pandemic. The last jobs report of 2021 disappointed economists, but the unemployment rate has fallen to a pandemic low. Plus, Tim Cook’s big, 2021 payout. In this episode: Rob Lynch, @PapaJohns Dr. Scott Gottlieb, @ScottGottliebMD Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Mike Santoli, @michaelsantoli Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	Bring in show music please.
0:04.0	This is Squawk Pod and I'm C.M.C. producer Cameron Costa.
0:08.0	Today on our podcast,
0:10.0	The surge of Amichron infections is battering American confidence.
0:14.5	A group of former Biden advisors are now saying we have to do better.
0:19.0	Criticizing the president, criticizing the administration, criticizing the CDC, saying it's not enough.
0:24.0	They screwed it up.
0:25.0	Former FDA Chief Dr Scott Gottlieb on the COVID agenda.
0:29.0	We have to normalize the distribution of the drugs and the vaccines and the diagnostic tests.
0:33.5	We need to get them out into normal retail channels where they're going to be more
0:36.4	accessible to consumers.
0:37.8	Right now the government's been in control of that distribution.
0:41.5	Well, at least pizza distribution remains safe. Well, sort of. Papa John's CEO on his own supply chain.
0:49.0	Papa John has been open every day since the start of the pandemic and we've figured out how to
0:54.5	operate in a new normal. Plus Becky, Andrew, and Mike Santoli on the other
0:59.6	stories that got us walking today. The markets kick off 2022 and Game Stop is going
1:05.4	crypto. Why not? It's a $10 billion lottery ticket. It's Friday January 7th,
1:10.8	2022 and Squawawk Pod begins right now.
1:14.5	Stand Becky by in three, two, one, cure-free.
1:19.0	Good morning, everybody.
1:20.1	Welcome to Squawk Box here on CMBC.
1:22.3	I'm Becky Quick Quick along with Andrew Ross
	...

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