Markets Shrug Off Hot Inflation Data, the Financials on a Record Run, and Has the Nasdaq Bottomed? Plus: Biogen Slumps on Medicare and Alzheimer's Drug News: Reaction from the CEO of Novartis

Carl Quintanilla, Jim Cramer and David Faber on inflation watch: Markets rise despite data showing consumer prices up 7% in December from a year ago. Cramer offered his perspective on how Fed Chair Jerome Powell is handling inflation in wake of Tuesday's re-confirmation hearing on Capitol Hill. The anchors also reacted to what Domino's CEO Richard Allison told CNBC about how he sees the inflation picture. Also in focus: The financial sector's record run ahead of big bank earnings, Nasdaq coming off its best day in three weeks: Has it bottomed? Dish Network shares jump on reports it is in merger talks with DirecTV, DoorDash CEO Tony Xu joins the board of Facebook parent Meta and Biogen shares tumble on Medicare decided it would only cover the company's Alzheimer's drug under certain conditions. On day three of the J.P. Morgan Healthcare conference, Meg Tirrell interviewed Novartis CEO Vas Narasimhan about everything from its licensing of a COVID drug to Medicare's decision on covering Biogen's Alzheimer's drug.