tens othf ousands who've improved their online reputation. get your free reputation report card at reputationdefender.com or call 1-877-866-8555. from deep inside the newly constructed bunker in an undisclosed location in northern new jersey, welcome to "power lunch. no stimulus deal yet but stocks are higher and may be because wall street is waiting for something else we've got a special report plus airlines are struggling you knew that. american, southwest reporting a combined $4 billion loss in the

latest quarter and the ceos are warning there is no quick fix. and later, home sales, on the other hand, hitting a nearly 15-year high and red fin says it is seeing its biggest surge in luxury home sales since 2013 the ceo, the always smiling ceo, will be here to tell us where he's seeing the most demand. "power lunch" starts right now from downtown manhattan to central park, markets are making big moves on any stimulus progress lately, the dow erasing a 170-point drop after positive comments from speaker nancy pelosi bob pisani has more on the markets for us >> what's more stimulus worth? not a lot.

speaker pelosi was optimistic. and from that we moved from flat into essentially positive territory but that's only about 20 points. the market has heard this story a while and i think it's getting skeptical here what's moving the market is stimulus increasingly vaccine is showing up as an issue here. third quarter earnings have been outstand being bing but that's t moving the market so much. stimulus is one issue. but there's also vaccine complacency. the issue for markets and vaccine is that the vaccine will not be a light switch event that's suddenly back in april or may, all of a sudden we're going to get a vaccine and we're all going to be back in movie theaters it's going to be much more discontinuous than that, we would have low efficacy rates that would delay it, skepticism, the logistics of getting it out may delay the recovery and that would put off economic recovery much further into '20, '21

the markets, expecting by the second quarter we'll see a significant republicing. y -- reopening you can see this with the earnings quarter this is only another quarter and a half away, we're expecting growth of 14% in the s&p and for the second quarter expecting growth almost of 50% we're talking about numbers back to the wave they used to be essentially. so the market is signaling expectations for a second quarter recovery, tyler, and the evidence right now is that this is a much more discontinuous event than anything that will happen suddenly in may i think that's a little bit of indication of complacency on the part of the markets. >> bob, thank you very so what does matter more to wall street right now, stimulus or a potential vaccine and is a stimulus deal already priced in? joining us to discuss that is president and cio and doug

sandler, head of global strategy at river front investment group kevin, you point to a great note i've seen before from jpmorgan about the risk of getting in and out of the market. not only do you incur taxes, but you also might miss out on some very good profits. >> certainly, tyler. and having a vaccine or therapeutic for coronavirus is critical to get the american economy back to full steam again. but even short of that, most of the investors we've been speaking with are getting more and more concerned with the election that is now just 12 days away. the study that you point to suggests that between the years of 2000 and 2019 had an investor missed out on just the ten best days in the market, their returns would have been cut in half so trying to time the market effectively is often an exercise in futility. we also know going back to 1974, the average return for the stock market in the three months after

a presidential election, regardless of which political party wins the presidency or which political party controls congress so we believe it's more appropriate for investors to stay true to their risk tolerance and look for pockets of growth in areas such as health care, technology and e-commerce >> doug, i know you are also a believer in sort of staying in the market you don't want to miss what you see as a possible continuation of what we've seen for so much of the past six months and that the correction may already have taken place. in case you missed it, you think it might have taken place in september. >> that's right. i think the exciting news i can report is most people expect a catastrophe after the election, whether it's massive social unrest or massive volatility like my grandmother told me, a watched pot never boils. when people are all expecting the same thing, the sellers that would have sold already have i think that was the correction we saw in september, that now

the market is recovering from. >> that the people who were going to sell have already sold. is that fundamentally the argument there, doug >> that is and there's just a lack of places to go so you're forced to chase the market up. if i want growth, and most people i talk to need their money to go from x to y, somewhat higher level, you just can't get there with bonds and cash there's a limited amount -- [ inaudible ]. there's about a 4.5% earnings yield. that's far better than you'll find anywhere else >> i was getting a little break up there kevin, let me turn to you. with the tail wind of the federal reserve pumping so much cash into the market, doug makes the point that cash is trash >> yeah, there's a lot cash sitting on the sidelines right now, tyler, so where do you look going ahead? we know rates are likely to stay lower for longer with the federal reserve suggesting that rates may be at or near zero all

the way through the end of 2023. so all of a sudden dividend paying equities seem certainly worthy of consideration. and then as we look on the gr s growth side of the equation, we look at smaller cap biotech, larger pharmaceuticals according to deloitte, investors are considering spending 64% of their holiday budgets online that's a tremendous opportunity for e-commerce related stocks, whether they be traditional retailers or credit card companies there are opportunities out there but investors need to be more selective >> kevin, thank you very doug sandler, thank you as well. >> kelly, over to you. >> tyler, new jobless claims falling below 800,000 this week for only the second time since the pandemic started or the shutdown began, but the number is only a small part of what's happening with unemployment.

ste steve liesman joins us steve? >> the levels remain extraordinarily high by the measure of any recession we had the third decline in four weeks. still, the levels remain above the worst single week of the '08/'09 great financial crisis every number about 700,000 it's said the drop signals individuals are being recalled to their previous jobs or finding new work, development that bodes well for the next employment report. continuing claims dropped by more than a million for the third week in a row but there's maybe a bit less there than meets the eye. continuing claims have declined by 4.1 million since august. that's great news. a lot of this seems to be real at the same time, 1.7 million people have seen their benefits expire so instead they file for

extended benefits. that's about 42% of the improvement in continuing claims so the job market in a major state of realignment because of the enough realities of the virus. some businesses still shuddoul shuttering, others scram be to hi -- scrambling to hire the fact is both sides are right, kelly >> a lot of the volatility seems to come from california and the issues that they're having what do we know about that >> so california had stopped reporting for three weeks. they came back into the fold this time. that led to a reduction because what was happening was the government, the federal government was carrying over an old number for claims and then they went and put them back in it looks like a lot of people in california have filed for extended benefits but the number of new benefits in california was down so that could be good. of course california has had lockdowns and they've also had

the virus. so some of that is going to be coming through the system right here and we'll see if in the wake of that if perhaps there will be some improvement >> yeah, true. steve, thank you so much for recapping all of it for us steve liesman on the labor market ty >> coming up, home sales hit the highest level in nearly 15 years. we'll talk to the ceo of redfin of where he sees the most demand >> and shifting profits from the work-from-home trend "power lunch" coming right up.

there's been a big jump in existing home sales and even an bigger jump in the price diana olick has that for us. >> demand is outstripping supply and causing prices to overheat the inventory of homes for sale dropped to the lowest on record since 1982 with just a 2.7 month supply a six-month supply is considered a balanced market. that pushed the median price up to $311, 800

part of that jump is because the bulk of the sales are happening on the high earned of the mash, skewing that median. lowes price home sales were down but sales of million dollar plus homes doubled compared to a year ago. that never happens in addition, vacation and resort home sales jumped 34% annually, clearly fueled by this new stay-at-home culture and the ability to work from home and school and from anywhere it took just 21 days to sell a home in september, which is yet another record back to you guys >> how do you explain the fact, diana, that you get such pressure on prices at the highest end? who's buying and selling >> well, look, that's where the supply is. you had a lot of high end sellers who may have had their homes on the market and not gotten a lot of bites.

now they are and they're putting their holes back on the market and you have a lot of buyers who have been saving money or taking advantage of these record low mortgage rates so they're getting more for their money they're getting back out there because the homes they're buying are larger and they need that extra space for work and for school they're also going to markets they might not have been in before because now they can do it from anywhere that's why you're seeing so much luxury supply go for sale, whereas on the low end, there's nothing to buy >> all right, thank you very much, diana olick. appreciate it. >> kel >> yeah, we're going to stick with this topic. there's high demand for luxury homes of where across the country. according to redfin, luxury sales jumped 42% year on year. here to talk about what's driving it and which markets are seeing the biggest sales growth. glen of red fin joins us >> happy to be here. thanks for having me

>> there are so many superlatives, everything from prices to how quickly they're rising to sales we haven't seen, especially at quieter seasonal tiles like this. this morning in its report, the national association of realtors called out a lot of vacation home destinations, places like the jersey shore, some places out west as seeing a huge increase in people buying homes because they can now work from them full time basically where are you guys seeing the strongest luxury home demand >> we're seeing it outside the major cities people are buying vacation homes and then taking a permanent vacation where they're working from those homes, just as you said it is not just a question of supply there is definitely more demand. the people who have lost their jobs working for restaurant and other service industries, those folks are not buying holes rimeh now. it is the professionals able to work from anywhere who basically view this entire economic disruption as an opportunity to

live wherever they want. those are the ones who are really able to pounce and they are the ones on the move outside of new york, outside of san francisco, outside of the major cities in miami, we are seeing massive sales volume. there's a couple of places that are kind of sitting out philadelphia and nassau county, new york why are those exceptions to this trend? >> well, in philadelphia itself we haven't seen much demand within the city center it's been all in the outlying areas. why would somebody someone spend a million dollars to be in the city when they can get a much larger place further out our agents have been listing them in the city itself but seeing booming demand as you go out main line into the suburbs people are definitely looking further afield they don't want the congestion of the city. they're not willing to pay a premium to be close to the office i'm not sure why nassau county is down but i can tell you most

of the counties in connecticut are just booming if you look at bridgeport, if you look at all of the counties, up north of new york city, it is game on. >> yeah. bridgeport is up 117% year over year my biggest question about all of this, is this all a one-time kind of reset fueled by the pandemic this year or do you expect these gains to continue because when prices for all homes on average are up 15% year on year, that's almost as high as we saw during the housing bubble the fact that we're experiencing this right now would seem to suggest it can't be sustainable, but you do have low interest rates, you do have a lot of people who might make this decision next year for the same reasons. is it going to last? >> well, there's no way it can last forever this level of demand is absolutely insane. i would expect it to last into 2021 at least. there are so many people now who have decided that they're not going to be able to buy a home

by year end who expect to do so going into '20/'21 there are some short-term effects. there is no way interest rates can remain this low forever. part of what is fuelling this boom is the economy has just split into two and rich people are able to access capital almost for free. of course they're going to use that money to buy homes. there's just another group of americans who are still struggling, who can't access the credit because we've raised credit standards and you have high unemployment. i just think those two trends at some point have to collide >> have i a question about what the buyers are looking for i am told that they are looking for a space where they can have a home office, number one, and, number two, that they are looking for move-in condition properties, redone ones, ones with brand new kitchens. there's a property down the road

from here that was just redone, priced $2.2 million. i could not believe it it's not a $2.2 million house but it's redone. >> yes what we used to see was demand for an open floor plan, definitely tolerance for fixer uppers were willing to buy a dump on the assumption they'll fix it up. who wants a kitchen remodel when you have to live every single day and there's nowhere else to go new construction is booming. buyers are willing to look further out. they don't care about the commute. they definitely want privacy so that open floor plan is giving way to more bedrooms and more private offices. we are just seeing a move out to open space and a move to suburbs and exburbs. >> it's ironic that polte is

down 5%. that's but that's on the -- how do you expect the inventory situation to move from here? >> i don't think inventory is going to loosen up until after november we talked to some sellers anxious to put their homes on the market just before the election buyers have much higher appetite for risk than sellers you might have your home on the market, two, three, four months and so much can change between when you decide to list the home then when you actually get it staged with the sign in the yard. whereas buyers, if they see a house they love, they pounce sellers are still feeling

anxiety. many will put their homes in the market in january and february i should flag one exception. it's hard to sell an urban condo right now. luxury homes in the booneies, we'll take them all day. but in the city, the buyers for the properties are unemployed. that's are the people struggling now to get a sale. >> glen, thanks as always. great to have you on today >> thanks for having me. >> coming up, southwest and american airlines reporting billions in quarterly losses so why are both of those stocks higher our top analyst will be along in a moment or two to discuss and guess what, bitcoin, the boom is back for now, hitting its highest level since january of 201, 13,000 the traders will tell us where it's heading next.

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welcome back, everybody, to "power lunch". b bitcoin surging to its highest

level since 2018 and my classmate also getting bullish on "squawk box." >> the reason that i like bitcoin and wrote about it to my investors was because back in march and april it became really apparent given the monetary policy that was being pursued by the fed, the incredible quantitative easing that they were doing and other central banks were doing, that we were in an unprecedented time i like bitcoin even more now than i did then. i think we're in the first inning of bitcoin and it's got a long way to go bitcoin now up 22% this month and counting so do you believe the bounce and the bulls? your "trading nation" team today, gina sanchez and quint

tatro of jewel financial gina, do you have a stand on bitcoin? >> look, bitcoin trades like a commodity. it's as supply and demand business if you expect demand to go up, you should expect the price to go up. the problem with this is it's been incredibly volatile and it's high lie traded by momentum so i think you have to be careful when you put this in your portfolio because a little bit goes a long way. >> is there room in most portfolios in your view, gina, for a little bit of bitcoin? i'll ask quint the same question >> personally i would say probably not yet i think there still has to be a lot more standardization and regulation around how this is going to trade right now it is a bit of the wild wild west with these momentum trades whip selling it. so one announcement for increased demand pushes the price really high and then you lose that value within a month >> quint, do you own any

bitcoin? >> i actually do own a little bit of bitcoin only, you know, just to kind of get my feet wet a little bit a while back i picked some up in a small coin base account. but, tyler, we deal a lot with average retail investors, we look at comprehensive wealth management and i can tell you for middle america, there are a tremendous amount of folks worried about our monetary system and fiat currency as one of the greatest traders in the world, paul tudor jones, said it became very apparent we were going to put a tremendous amount of money in the system. when somebody expresses that concern to me and asks me how they could potentially protect against not just return on capital but return of capital, i say -- i encourage them to explore bitcoin as an option

we can't as an investment adviser, you know, buy that for them so they have to do their own due dildiligence, but, agai there's a lot of people out there concerned about the monetary system as a whole and they're starting to hedge that by picking up a small percentage i think that's where the new demand is coming from. >> interesting is gold in that same category? quickly, quint >> i think it is but, again, that's more of a hedge against just general inflation, not a complete collapse against the monetary system >> all right gina, thank you very much. quint, thank you very much for more "trading nation" head to our web site where you can follow us on twitter at "trading nation." kelly? >> tyler, ahead on power lunch, airlines continue to burn cash this as the pandemic crashes travel demand. is more turbulence ahead for these stocks plus, despite the rise in retail trading, uncertainty is seeking

investors to seek more financial advice and helping hedge funds stop the bleeding. >> and the ceo of citrix is telling investors working from home is here to stay he joins us next to explain. >> announcer: and now the latest from "tratradingnation.cnbc.com many people say don't fight the fed. don't let a fed announcement derail your long term investment plan if you're a short-term trader, you might want to wait until after a fed announcement before taking on any new positions. 5g just got real.

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welcome back, everybody. i'm sue herera here's your cnbc news update at this hour. president donald trump has left the white house, heading to nashville for tonight's debate with joe biden nbc news reports trump allies are urging the president not to interrupt as much, giving biden, perhaps, more of a chance to say something that might hurt his efforts. >> under public pressure to take

a stance on dividing the supreme court, biden said he wants a bipartisan commission of scholars to look at the entire court system because he said it's, quote, getting out of whack, end quote we told you germany had a record high of coronavirus cases, now it's the same for france, with 32,000 cases up from 27,000 yesterday. >> and look at that little guy that is a surprise for a farming family in italy. it's a puppy but he has green fur, born in a litter to one of their dogs it thought to be caused by contact in the womb by the same compact that gives -- >> is he going to stay green >> he'll fade a little bit the farmer is keeping the dog

because he said green is good luck and he needs a little good luck in 2020 his name is pistachio. >> sue herera, thank you so much the dow is up just under 200 points dow was also the best performer except for the small caps. the russell 2000 is up 1.5% today and the nasdaq up 0.2% oil market is closing up for the day. let's go to dom chu at the commodity desks. >> right now the u.s. benchmark west texas intermediate or wti crude oil future is up about 1.5%, 40.67. world benchmark crude fultz about 42.50, 1 3/4% gains there. yesterday we told you the u.s. had a build in gasoline

inventories. it was part of the negative story for prices yesterday those concerns are about waning demand due to a smiek pike in c cases around the world prices stuck in a narrow trading range as consumers are tepid about any kind of a covid-19 stimulus relief package. tomorrow it is friday. we'll get the weekly baker hughes oil and gas rate count, 1 p.m. eastern time as always. back over to you >> thank you very much airlines hitting turbulence. both american and southwest reporting a combined $4 billion in losses as the coronavirus crisis continues to slam demand. that said, both names are currently in the green, as you see right there. southwest by 6%. cash burn did drop slightly, but it's still a grim number americans losing 44 million a day. 16 million a day for southwest and the companies' ceos are not

optimistic looking forward >> more of the same. gradual recovery these results, you're right, are not good they're driven entirely by a dropoff in demand for travel driven by the pandemic we've done virtually everything we can as it relates to costs. that number will get to a positive number when more are flying that will happen in some point, some point in 2021, i don't know exactly when >> you have to assume we'll be more dependent on consumers. that means we need to keep our costs and fares low and have a route system that supports consumer interest and demand >> let dig deeper into these results with helaine becker. i want to sort of try out a hypothesis on you and that is if the airlines have done what they

can do with respect to cost cutting and cost management, then it would seem that their recovery will depend on a revenue bounceback at what point do the airlines get to a break even point? in order, what percentage of their 2019 revenue do they need to break even and where are they roughly now? >> they probably need 50%, somewhere between 40 and 50% o last year's revenue. and actually, thank you very much for having me, tyler. it's good to talk to you again and right now they're still down 75, 80%. so we have a ways to go. to their point, obviously both are still hopeful that the government will come along with more c.a.r.e.s. act funding for them to get to march of 2021 i think that's the view of most people in the industry that if they get there, things will turn

around our view is more, yes, that will help but we need things to open up and we need more people flying, we need higher revenue to your point, you know, you asked about cost reductions, if they've done everything they could possibly do, then the only way to improve profitability or lower cash burn or get back to the plus side is to generate higher revenue and the own way you do that is to raise prices, which obviously they can't do when few people are flying they have to cut fares to stimulate demand so, you know, our message is let's get things open in a safe manner and then i think more people will start to fly and then i think a lot of the issues the industry is experiencing right now will be behind us, which is probably a simplistic way of addressing it.

>> yeah. they've done an immense amount of job cuts. i think it's 19,000 planned furloughs at american and somewhat less have taken voluntary retirement at southwest. of those two, do you have buy ratings on either of those two stocks and, if so, what is your argument for them? >> that's a fair question and one i think about every day. as it happens, yes, we do. southwest is the reason we have the outperform rating really have to do with a fortress balance sheet, a strong business plan, a good management team fortress balance sheet, by that i mean they've got a good cash position, they've got three years worth of cash in liquidity in the event absolutely changes from here and obviously that won't happen we will get back to some level of profitability but 2023 or 2024 and those are kind of the three

or four highlights in the american case, that's really our contrarian idea the company does have a stressed balanced sheet but pragmatically so does everybody else in the industry the thing about american that we like is their load factor was higher than the network peer group, they have a smaller international footprint than united or delta. number three, they have no significant debt repayments due before 2022. so that puts them in a slightly better position. and number three they've repaid and, so has southwest, 364-day term loans that would have been due in march of next year. i think both companies have actually gotten themselves into a pretty good position and both are, you know, have substantial domestic leisure exposure.

as business travel comes back, they should do well. i think southwest said -- actually it was american who said one of every three people who flew in the third quarter flew on american, which is a pretty significant number. >> very interesting. yeah >> yeah. >> that is indeed. and today those two stocks are looking pretty good so you're looking pretty smart time will tell helane becker, thanks. let's go rick. >> if you're an aficionado of interest rates, today is an exciting day look at the day of 10s anything above 83 1/2 keeps it above previous day high yields this all started friday after retail sales are strong. look at a two day of 30s

you want to notice look at the high yield today, right around 166 plus now open the chart up to june. kelly was right, both long maturities are comping to june, except for on the closes in june it was 167 for 30s at 89 plus for 10 30s may do it today, then they would be comping back towards february and march 10s minus 2s, all the yield curve spreads are going wild today. should it close here, best close since february 2018. by far the winner is the long 30 year we haven't closed at 128 in almost four years going back to november of 2016 what does it mean? it means these yield curves are telling you there may be more follow side to the upside on yields tyler, ba to yck to you.

>> hedge firms start the bleeding we'll explain all of that next on "power lunch.

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welcome back it's time for today's power movers let's start with at&t. its earnings and sales were lower compared to last year as the covid shutdown hurt entertainment units but stock is higher after it added 645 wireless customers at&t up 5.5% today next up, the company behind inadvi inadvice -- invisalign is up today. and a big mid-day mover. gap jumping this afternoon as it outlines plans to close stores and shift away from malls. the shares are up now more than 10%. ty >>. >> no one should be surprised i don't know who those influencers are. let's move on. money has been consistently moving out of hedge fund for the

past two and a half years, but that trend may be reversing just now. leslie picker has those details for us leslie >> finally some good news in hedge fund world, tyler, making in more capital than they lost in the third quarter that's the first time that's happened in two and a half years. the industry saw inflows of $13 billion, a reversal of the outflows that took place every quarter going back to the beginning of 2018. hedge funds on average outperformed the market in the first quarter when the volatility was unfolding as allocateors look ahead to the election and ongoing covid crisis, they're turning to hedge funds to manage risk and protect down side. we often talk about hedge funds like they're this big monolithic entity but they come in all sizes and styles, not all of benefiting from this in-flow trend we're seeing

86% of the inflows went to those making the biggest fund bigger they saw the help navigating the political uncertainty. quanti kwaunt -- quant funds were also beneficiaries. >> at thtyler. >> thank you >> kelly >> citrix system is down about 7.5% after its earnings report the ceo is about to join us. we will delve into this story. 5g just got real.

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citrix is down about 7% today even as quarterly results did beat expectations. the company is shifting its business to profit more as work from home becomes a permanent reality. let's bring in david henchel for more, citrix's ceo david, it is great to have you i think i use your product every time i log in. welcome. >> good to be here. >> what's the disconnect between the stock today and what you outlined for the future? >> it is quarter after quarter where we continue to exceed expectations and raise our future outlook my takeaway right now is that the -- frankly the size of the

outperformance isn't as strong as it was earlier in the year. if you look at the actual numbers our subscription business is over a billion dollars annualized from 53%. we add 800,000 net new subscr e subscribers to citrix cloud. we generated across the board on the p&l and 20% in future committed revenue. overall the financials look really good. >> maybe you are suffering a little bit of what we saw with netflix the other day. you could argue it pulled forward demand you could see that the previous quarters were so strong there is now kind of a moderation in play i am curious when you say you are pivoting the business to benefit from work from home. it would seem to me as a user you are benefiting already tell me about the pivot? >> we are not pivoting the business to work from home we have been doing this nearly three d.c. decades when the pandemic hit it was natural for customers to reach

out to citrix to help them enable work from home. i think what has been the aha during this period of time is remote work is in fact work. companies are seeing a surge in productivity as people are more engaged they are more focused and they are working more clab re thely than they have over a period of time i think leading to the realization that a hybrid work model is where it is going to land, giving them tools to be productive, secure, and to have all of their work resources in a seamless package that we deliver with citrix work space people are looking at it as an opportunity to reach new talent pools around the world and drive productivity which has been a problem over the last several years. we are excited about the future. >> i see it is also citrix yourselves which are pivoting the business to potentially allow employees; is that right, to work from

home, or reevaluate your real estate footprint we have always been a flexible company. prior to the pandemic we had between 25 and 30% of people working remotely on a regular basis. like a lot of companies we have seen a surge in productivity and engage men a lot of our internal surveys point to the highest level of employee engagement and reception we have ever had on a go-forward basis we are going to formalize these practices to a more hybrid work model, use our real estate foot print as a culture hub and a place to come together and innovate and then give people the space to allow for personal productivity and allow people to create at an even greater level than even citrix has done in the past. >> david, i use it and experience it myself, and so many millions more thank you for joining us today,

david henchel, the ceo of citrix tyler. another up and down day for stocks we have got much more on the markets coming up after a short break. don't forget, you can always watch or listen to us live on the go on the app, the cnbc app, that is. we'll be right back. as business moves forward, we're all changing the way things get done. like how we redefine collaboration... how we come up with new ways to serve our customers... and deliver our products.

but no matter how things change, one thing never will... you can rely on the people and the network of at&t... to help keep your business connected.

kelly, it has been a see saw market today, lower early, but now up about 160 points on the dow. as i guess you would have to

say, the hopefulness surrounding stimulus emanating from speaker pelosi is helping lift stocks. i am reminded of last year when all we were talking about at this time was will there be a trade deal or no trade deal? that was the wall of worry investors were climbing. now it is stimulus will there be? won't there be >> it does feel like we are back to that. in the meantime we are getting a lot of the pandemic plays combining with earnings creating interesting movers look at tractors supply for instance down about 7%. one of the worst stocks in the s&p 500. they reported comps of 29% i mean they are blowing it out, 27%, i should say. you know, they are saying only 15 to 20% in q 4 but, again, this is a stock that's up 60% this year. let's show the home builders we were talking to glen kellman earlier about how strong the existing home fills report was today. there is no inventory in sight

net putty and the other builders are down 5% because they were a little shy these have taken a run up so much looks like investors are taking a pause. >> taking a pause. and kellman said people want new houses but it is not helping the stocks today kelly. >> exactly ty, it has been good to see u. thank you everybody, for "power lunch" today time for "closing bell" to kick things off right now. >> thank you kelly welcome, everyone to "closing bell." i'm sara eisen, here with wilfred frost, as always another volatile dwa for stocks as the major averages waver between losses and gains the dow and s&p are heading up in the final hour of trade let's look at what is driving the action nancy pelosi said we are just about there adding she believes both sides want to reach a stimulus deal. jobless