In the UK raising its earnings guidance slightly after record sales of food over Christmas defied fears of omicron would dead demand nevertheless those fears did see back into the market those 80 yards are now down 8% in the session And I'm going to end here with Chinese ADR Billy Billy Bernstein cutting their recommendation on those ADRs to market perform citing disappointing execution in 2021 and concern over a week gross margin outlook in 2022 That also follows a cut from Morgan Stanley on slower growth Those ADRs dug down 8% All right thanks to Gupta Well clients had Morgan Stanley are expecting financial stocks to outperform this year a survey conducted at Morgan Stanley's annual conference shows 45% of respondents are betting the financial industry will be the best performer this year Interest rates are headed higher We know that and that's got to help with margins tomorrow will get earnings from Wells Fargo city group and JPMorgan Ten year treasury now down about a basis point and a half in yield We're at 1.72% I'm doctor that your Bloomberg business flash This is balance and power with David Weston This is a labor market that continues to I think display a great deal of strength You are more polarized politically and will more divided as a society where the world of politics beats the world of business The science and the stats say schools aren't safe place for young people The January 6th attack was the tip of an iceberg The underlying extremist strands have not gone away Balance of power with David Weston on Bloomberg radio President Biden calls in the military in the fight against oma cron NATO and Russia agree to disagree over Ukraine and lael brainer takes her turn in front of the Senate banking committee From the Bloomberg interactive broker studio in New York welcome to the second hour of balance of power I'm David Weston Fed.