come out we'll look at the treasury yields which have been trending. here we are at 1.959 >> backing off little bit. >> we'll see what the fed thinks about this later >> the january jobs report due at 8:30 a.m. eastern expecting an increase of 158,000 nonfarm jobs the fed will release the semiannual monetary report today ahead of the fed chair's congressional testimony. the next democratic debate is tonight in new hampshire ser seven candidates will take the stage there. breaking news, thiam resigns from credit suisse in a bid to establish whether the former leader was poaching clients. saying that he was aware of the surveillance i'm sorry, he was not aware. not aware of the effort but it did result of the suicide of a private investigator andres ig nation of top executives he'll be replaced by gottlieb. shares are down on this news a lot of folks will be watching this story and what it means on the drama of what has taken place there. >> it sort of derailedthe potential they've had success. this is changing >> some people at citigroup still answer the phone solomon brothers the latest on the coronavirus outbreak death toll climbing. we are over 600 dead number of confirmed cases surging above 31,000 china's central bank saying its economy could be disrupted in the first quarter. is preparing policy tools to support its economy. sweded with a long conversation on the phone he feels they are doing very well, even building hospitals in a number of days the weather will start to warm and virus starts to become weaker and then gone president xi leads a successful operation. we are doing all we can to help. let's get to beijing with eunice >> state media says that president xi told president trump that no effort is being spared in what he calls as china's people's war against the virus. local authorities have been responding to the call hangzhou and other places have been giving official passes so only one family member can leave the home every other day for errands. tianjin is restricting entry-exit to homes. shanghai has extending if they lie about their history, could get a black mark if you lie about your medical history they have a social credit rating all of that meant to apply this is kind of implementing xeno phobia. one executive went to check on his factory in a different city but because he was an outcider, he was put in quarantine for two weeks. you are seeing a lot of activity on the ground. >> thank you for more on the ground there in china, david, good to have you here this morning. we look at the way financial markets behaved this week. we've gotten past the spread what is the latest to how people are reacting in how they are going out and participating in the world there? >> the next couple of days it will become real remember, we have had the chinese new year we'll see where people work and live look anything but normal. this place is on lockdown, restaurant shops hardly any traffic. we'll see that kicking in which people come back from holidays not just those death numbers that are tragically going higher we've had an impact today, the death of a whistle blowing doctor in wuhan. we are seeing unprecedented anger on already heavily sensored chinese social media. hundreds of millions of posts talking about how upset they are. this doctor having been punished by the police for reporting is beg held up as a martyr. >> in terms of the government's response, do you think we can derive anything in terms of the seriousness of the disease or is it the fact that china wants to become a major player in social media. you have other things going on forcing them to have a greater response can we derive anything from the response from terms of the receive severity of the disease. >> you are right the last time we had sars in 2003, you could notice if you paid attention now chinese tourism, airlines, that hit is so much larger to the global economy because of the room that china takes up china is no longer the workshop of the world it is making smartphones, very high-end technology. all of those high-tech supply chains, if this drags on and it is months, not weeks of this disruption not only will there be an immediate hit because supply chains are disrupted people will start to think, wow, if they have to get used to not having china in the supply chain, we will see a larger decoupling being massively accelerated if this goes on too long >> thank you so much okay so much more this morning. uber shares popping. the company reporting higher than ever revenue growth we'll dig through the quarter ahead of our big interview at 7:00 a.m. with uber ceo here you don't want to miss all of it we are back in a moment. how well does your financial advisor know you? 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>> hoping the company would get a little more focused on profitability, which they have the theme that this is a transform tiff year in 2020 the company saying in our core business it is time to grow responsibly. definitely a good move. >> growing responsibly also means to grow slower >> it does that is something investors are looking at and came away surprised. the ride business slowed down. gross bookings were around 20% eastbounder eats on the upside total company growth, 30%. still healthy given everything they are doing >> what is the fair market value for the stock? >> we have a price target of $54. what do they have to do to get there? >> the most important thing is to continue to show gains and secondly, avoid any sharp slow down in bookings growth. as long as we see progress, we think shares are much higher >> what are the sticking points. everybody wants the company to move towards profitability have they made the case that uber eats is profitable? >> it was interesting how they handled the eats discussion. they said we are number one or two in half of the countries where we operate eats business where we are not, we are developing a plan to become one or two or exit we saw them exit uber eats india and pursue that market through partnership. that strategy seems to be working really well. the bigger long-term question is whether they make the jump to super app status in asia where consumers do everything from book a ride to order dinner to get a dog walker that strategy hasn't really migrated to the u.s. as we look out, that is one of the key things to watch. >> let me ask you about that super app strategy how much of that, maybe it is straight option value at this point. you look at what the stock is doing right now, is there any of that built in there? >> i don't think so. you look at the mobil economy. that has moved from the browser to the app i don't think that's in the stock yet. it could be over the next year or two >> if they pick off one of their competitors in food delivery, how important is that? how will people look at that >> i'll take that first. any consolidation will be welcome even if not directly involving uber if you saw grub and doordash get together, it would be helpful for the space. investors prefer to see uber as a consolidator in the u.s. right now, they have about 20% market share you want to be the player with over 50% share when you are, you get the bulk of the profits in the space. as long as there is any consolidation, i think people would welcome it >> 10 seconds for each dara will be on in an hour from now, what would you ask? >> i would like to know the strategy moving into other businesses >> we'll count that as a super app question >> how do you continue to grow the tam for the market if you are raising prize? >> both good questions thank you. we'll sit down at 7:00 a.m. here on squauwk still to come, joe and becky live from pebble beach they'll kick things off in about 20 minutes with sun microsystems founder scott mcnealy. looking at shares of pintrest. the 2020 outlook exceeded expectations are now up 16 percent ahead of the market. we'll be right back. legendary terrain in telluride, the unparalleled landscape of park city, or the famed peaks of whistler, you've faced the hassle of lugging your gear through the airport. with ship skis, you're just a few clicks away from having your skis, snowboard and luggage shipped from your doorstep to your destination. with unrivaled pricing, real time tracking ship skis delivers, hassle free. ship ahead and go catch those first tracks on fresh snow. ship skis. your skis. delivered. apps except work.rywhere... why is that? is it because people love filling out forms? maybe they like checking with their supervisor to see how much vacation time they have. or sending corporate their expense reports. i'll let you in on a little secret. they don't. by empowering employees to manage their own tasks, paycom frees you to focus on the business of business. to learn more, visit paycom.com at comcast, we didn't build the nation's largest gig-speed network just to make businesses run faster. we built it to help them go beyond. because beyond risk... welcome to the neighborhood, guys. there is reward. ♪ ♪ beyond work and life... who else could he be? there is the moment. beyond technology... there is human ingenuity. ♪ ♪ every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. take your business beyond. the january jobs report is out in about two hours expecting an increase of 158,000 of nonfarm jobs holding steady at 3.5%. good morning to you both what are you expecting in terms of your forecast what does it say about the pace of the economy to start the year >> we'll see the pace below 150,000. very much in line with the slower job creation. doing so as a noticeably slower clip i would add there is a down side risk we could see a number as low as 123,000. we did see that pick up. employment was still relatively weak we have seen lingering pull back there are reports of weakness still lingering on the labor front that will keep us at the lower more moderate level. we also got a very strong employment number a few days ago. how does that feel to you right now for the head new count >> i any we can surprise to the upside if not this month. this quarter ceos are feeling more confident. when they feel more confident, they take morris being when they take more risk, they make more jobs >> largely, jobs have been strong but wages have lagged people are surprised wages aren't stronger. allen, i'll start with you what do you think about that >> with this growth, no one has been able to come up with a good answer it has rebounded from last month. it will still continue to be sleepy that said, youhave powerful wage growth like data, science in engineering space >> is there anything misunderstood about the labor market rye now demographic effects or what can we expect on the wage front? >> i think wages are going to remain repressed i would say a sub 3% hourly earnings is low. that calls into question if we are accurately measuring we should be talking about 3, 3.5, 4% wage gains on a sustained basis. perhaps we are not capturing the full level of joblessness especially when we talk about the americans silting job less for a long time. we are talking about unemployment rate closer to 7% which more closely coincides with the sub 3% hourly earnings rate i think there are other things that are not accurately capturing those rates. >> and another reason why the federal reserve is not alarmed or going to do anything because unemployment remains at these lower levels coming up, an interview with uber ceo at the top of the hour. we'll talk tech with sun microsystems founder scott mcnealy. look at activition blizzard prizing and drop foraktw te-o interactive. squawk returns after this. ♪ ♪ yes i'm stuck in the middle with you, ♪ no one likes to feel stuck, boxed in, or held back. especially by something like your cloud. it's a problem. but the ibm cloud is different. it's open and flexible enough to manage all your apps and data securely, anywhere, across all your clouds. so it can help take on anything from rebooking flights on the fly, to restocking shelves on demand, without getting in your way. ♪ ♪ you should be mad your neighbor always wants to hang out. and you should be mad your smart fridge is unnecessarily complicated. make ice. making ice. but you're not mad because you have e*trade which isn't complicated. their tools make trading quicker and simpler so you can take on the markets with confidence. don't get mad get e*trade and start trading commission free today. good morning live from the nasdaq market. red across the screen. dow looks like it will open down s&p 500 off about 12 points ahead of the big jobs number we'll get out where we've gathered to hit the links. joe and becky there ahead of a huge lineup. what do you have >> we have a huge lineup i guess celebrities and ceos making it pretty interesting we do talk about golf but there is a lot we talk about to the up and to the down, we'll be joined by scott mcnealy coming up. we'll talk to him about technology he tends to be pretty outspoken about other issues too >> his famous quote -- his son is a really good golfer. >> there he is, speaking of. >> here he is. i'm going to speak for him when one would say why is the economy doing so well. he would say, that's what happens when you stop water boarding the private sector. >> he said that here >> he did. it doesn't take much to get him started. >> michael worth, ceo of chevron. we'll talk to him about oil prices and the theory that put out that it is the millennials that don't want to invest in these fossil fuel companies. >> i don't know when we'll have electric planes. there will still be some fossil fuels. i think it is weird. we have a strong economy global and oil is breaking under 50 >> you are going to see a pull back there one of the major houses thinks china's growth could fall to 1%. that is huge for the global economy. second largest economy in the world. we'll talk about that. david will be joining us to talk cbs. rand dal stevenson a lot happening with at&t and the screaming wars >> did they move on? elliott management >> they have softbank now. and we'll talk about streaming wars and what he sees happening. >> friends reunion >> warner brothers that's big. >> it is >> one show? >> it sounds like it it is going to be more like reflection, interviews ellen has been mentioned to be the interviewee. >> friends and maybe they'll super size the reunion it all comes back. and the launch hbo max >> okay. that's what we have coming up. >> we'll be seeing you guys a lot. scott mcnealy, never one to hold back we are looking forward to that coming up, the clash of the titans taking a stake in softbank what that means for ceo massa son. you can watch and listen to us live on the go on the app. squawk pod, you'll get taped interviews, hinld the scenes access and more. stay tuned, "squawk box" will be right back at fidelity, online u.s. stocks and etfs are commission-free. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk welcome back to "squawk box. we have a very busy morning. we'll be talking to uber ceo in a few minutes but before we do that, joe and becky are at pebble beach ready to kick things off now joe. >> looked like you were in pebble beach pretend you are out there. how you doing? joining us now, veteran of silicon valley, scott mcnealy joining us now what are you doing >> living the dream. >> you are living the dream. playing with your son. he was two under and had four putt to 18 >> it was tough. he's such a passionate, focused, determined guy >> where did he get that, i wonder >> he's a real class act >> you sold your last company to cheetah. now what are you doing >> i'm in the dot org world. i believe k-12 education needs to be fixed. from my perspective, the best way is by a platform for course wear to be involved that needs to be open and free and global we are building that platform to build course wear with ar and vr, collaboration tools, chat box, machine learning and ai and a data ocean so we can create really powerful next generation. think khan on steroids >> do you think schools would do that >> parents, teachers, students, churches everybody would ice this like everybody uses ios or linyx. there is not a platform everybody uses that is free. we are building the platform my son is doing birdies for education. you can read my blog about being a pga tour daddy he's going to raise a million dollars himself this year just for the curriki effort >> people think tech is undersold and yet the trillion dollar companies keep coming in. you are outspoken for the sector i will say small government and private sector brings the most wealth to the most people. >> the scope for the government is stunning. it is true in this statement when i was born -- what is the federal budget this year when i was born, the federal spending budget was $70 billion. think about the scope creep and the massive growth everything the government does is a monopoly and ultimately a tax-funded plr tax-funded monopoly. think iowa they can't even count the votes. the government isn't capable and functional i'm not saying we shouldn't have one state department, one defense department, law enforcement. >> maybe we should have a few charter schools or curriculum. what do you call them, not public schools, you call them government schools you've used that term. i believe they are government schools. it isn't public. >> scott, at the same time, you have a real demand that wants to see universal health care, one system for these things. people in iowa pay more for health care than i do for rent or my mortgageage a month. >> i think your health is the most valuable thing you have it will probably be the thing you spend the most money on. what is the phrase your health means everything to you? that's not free. we need to priorities spending my boys, all four of them, we trained to be responsible. i said have kids when you can afford them. pay for your own kids. get out there, get a job and build financial wear with all and support your kids with education, food, a house, education, health care if we had -- the government -- if it is really important, you don't want a monop lircher ly doing it i read the anti-trust act. i studied at at harvard. that's the problem we all know and get all bent out of shape when somebody approaches a monopoly like google >> andrew, i'm sure you have a question >> bill barr said the trump administration thinks the u.s. government should try to buy