good morning, it's 11:00 a.m. at eli lilly headquarters in indianapolis. it its 11:00 a.m. on wall street and "squawk alley" is live. ♪

good tuesday morning, welcome to "squawk alley." i'm carl quintanilla with jon fortt and julia boorstin with us dow because up 275 this morning. we lost some of that the covid-19 vaccine rotation is continuing with tech down another 2% today and the s&p 500 down 26 points that's where we'll begin this morning. the nasdaq falls investors rotating out of tech to some degree the managing director is going to help us start off the hour. good morning, mark good to see you. the. >> hey, carl, good to see you. >> we know -- i mean, the argument has been made that world changed a little bit yesterday for the better but is the tech reaction -- is there bath water being thrown out too? >> well, yeah. the world did change i'd argue a lot yesterday. and not surprising that we're

seeing a rotation in some of the tech names i think for the next little while here, you know, expect the expected we're going to think -- continue to see some rotation away from the work from home names probably bate probably a bit of a short term rotation we're heading into the holiday season we expect the e-commerce names and all the names that benefited during this period to continue to benefit at least for the short term but bviously, investors are looking ahead, pricing in the next six to 12 months. and i think it's going to be a little bit of a volatile environment for some of the work from home names for the next while here >> so how are you evaluating not just multiples in these spaces but trends that will obviously be somewhat unwound in the post covid-19 world how are you evaluating trends that will stick?

look, i -- some of the trends, you know, obviously we have a research team here that does a great job of thinking about the things every day and kind of positioning from a stock perspective. it has been warming up for the names that are well positioned for recovery you think about names in the on line travel space that have underperformed quite a bit in the last six, seven months here. but as we have a recovery, these are high margin, highly levered business models. so names like bookings holdings are on a recommendation list names like lyft and the ride sharing space that we think is well positioned here and then, you know, some of the ad names where ad budgets got pulled back quite a bit over the summer p names like alphabet are the names that we're leaning into here we do expect that, you know, the vaccine is going to work

and the smashg goimarket is goie that in ahead of time. we want to be leaning into the recovery name. >> in my mind, the two most important things happening in tech today are amazon facing eu antitrust charges and apple launching these macs with new homegrown chips. both are extending platform dominance. when you look at the most important stocks in your universe, how much are you expecting that they will be able to their platform dominance without running into either regulatory issues or technical limitations? >> sure. >> look, i think the change in administration is -- i don't see the regulatory pressure on big tech easing any time soon. i think we've got, you know, interest on both sides of the political parties to reign in big tech of course, they're going to continue to innovate and push forward. but what we're seeing is a ton

of innovation in the private market vcs, private equity firms are continuing to invest heavily in new tech startups. seeing some really interesting things there and it's reflected a bit in the tech ipo market. i mean, we've seen a record -- i think we're going to raise something like 27, close to $30 billion this year in tech ipo fund-raising and the deals are working well i think regardless if if you look at private capital, you know, formulation or the tech ipo market, the challengers to big tech are definitely doing well >> in terms of where you put the money when you look at digital advertising, around digital entertainment, i guess the question is as we get this vaccine news, how many of those

companies who are seeing a stock decline today in this rotation out of tech, how many of those companies are going to benefit from a long term shift towards digital trends as opposed to having some of their growth being a pull forward? do you think that some of the names are going to be long term winners here even after people go back to work and start living their lives again post vaccine >> sure. i think a lot of work that folks are doing including the research team here at stiefel is looking at short term positioning at portfolios looking at companies that benefited during the covid-19 environment and the stock prices, the multiples have gone up to at or, you know, above all time high multiple levels. names like wayfair, etsy, netflix, amazon are some of the name that stiefel refer pointed out as clear covid-19 beneficiaries that may see a near term head wind as there's a

rotation at the end of the day, if you take a longer term view, none of the trends that we've been talking about, e-commerce penetration, less thatten 20%. we may have brought in a lot of new shoppers, but these are folks having, you know, they're enjoying the experience. what beyond meat represents is this idea, thhey, there's a new way of doing things. there is a trend away from meat products people are going to blah, blah, blah but we've seen that there are real issues there of either fatigue in the buyer or maybe that story not panning out could that translate into some of the tech trends as well >> i think the major difference with most of the internet companies that we work with is the network effect which is not necessarily relevant, i think, to beyond

meat and some of the other names that you may be thinking of. the larger, you know, audience they have, the more money they have to invest in content. and really have a content advantage in the case of netflix. the more users they have in youtube and search, the more subscribers they can get booking, having more hotel sites yshgs is that? because they have the largest audience it's just the most that these internet tech businesses have built around their business models make it much more difficult for the types of things that you're seeing with beyond meat. in my view >> finally, mark, eu amazon and this on going debate about being a marketplace operator, is that

just part of a continuum that we will ride for years to come or at some point is there a tipping point on this? >> there's bager theme that is on amazon and facebook they try to do things that are in the best interest of the customers. opening up dialogue an facebook and conversations, trying to -- in amazon's case, have a third party marketplace and try to drive down costs that's the lens they look through and sometimes they trip up on regulatory issues. so i think this is a broader theme where i think that most of these companies have the could be assumer in mind and they're trying to do the right thing but during that process can sometimes, you know, trip over lines. look, i think it's the third party marketplace. the marketplace for amazon is a powerful part of the model

it drives the ad business which is phenomenal in q-3 regulators are looking hard. i think it's a real issue. like i said, i think the regulatory pressure on big tech is not easing. and i would tend to focus on the challengers. look, in e-commerce aloerngs we've seen incredible growth from vertical e-commerce plays like carvana, wayfair and vroom and chewy that was not even thinkable, you know, just five years ago. so there is some really interesting, you know, challenger companies outside of big tech and that's where i would focus my attention >> yeah. of it's a great point. we used to talk about just very basic dominance. and now we have a next generation of superstars to some degree mark, as always, thank you great to talk you to >> thank you >> we're getting numbers out of boeing on october orders and

deliveries phil lebeau has those for us >> it is a familiar story. it is another month where boeing does not book any gross new orders for aircraft, commercial aircraft in fact, for october, it reported negative 37 planes in terms of orders. those are cancellations and accounting adjustments all are for the 737 max. it means this year boeing's order book has been negative 1,020 planes and the backlog falls to 4,275 planes. did it deliver 13 aircraft last month year to date deliveries total 111 planes again, another month where they do not book any new gross orders for aircraft jon, back to you >> thank you and san francisco fed president mary daly in a cnbc exclusive is next stay with us new projects means new project managers.

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millennials patience on travel stocks paying off in a big way yesterday. but what should we make of their doubling down on stay at home names? we'll talk more about that as american offers to sell another 38 million common shares mary daly of the s fanrancisco fed is coming up after the break. don't go anywhere. to high quality computer science and stem education. ♪ i joined amazon because i wanted to change education and i am impatient. amazon gives me the resources to change the world

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let's get to our steve liesman now. he has a cnbc exclusive with mary daly. steve? >> thanks very much. i'm pleased to be joined by san

francisco fed president mary daly president daly, thank you for joining us >> my pleasure, glad to be here. >> great let's start off with the big news that came out just yesterday. there looks like there is a vaccine that is available that could be 90% effective let me cut to the heart of the matter you may be concerned which is what does this mean for federal reserve policy if indeed we have a vaccine that could be widely available as soon as sometime next year? >> first of all, we have policy in a really good place we can make policy less accommodative if the economy rebounds sharply and we can make policy more accommodated if we need more of a longer bridge. vaccine news, of course, for everyone out there in the globe is welcomed news but we also have rising coronavirus cases right now in the united states and across the globe. that's my top priority and thinking that we need to continue to support the economy and american people as we move through this virus

>> i want to get to that very important issue in just a second but you said something that was interesting. you said can you make policy less accommodative does that mean that would be your inclination if if the economy returns to normal more quickly than expected, to take away some of the accommodation out there? >> number my policy -- my view is policies is in a really good place and simply saying we have a very flexible policy that allows us to adapt as changes emerge in the economy. so we're well prepared no matter what the economy brings for us that is the main message to the american people. we're prepared for whatever the economy brings right now my lone modal outlook is we'll continue to have the slower pace of growth, not as rapid as we did as we first came out of the shelter in place stance but not completely in the terrible times that we're in march and april. >> i think the uncertainty of what is going on with the virus requires us to have conversations on both sides of

that issue you talked about the surging pandemic what is -- how does that change the outlook in terms of the strength of the recovery, whether or not we'll see a continuation of the strong growth we had in the third quarter? >> as i said, my modal outlook is for a continued expansion but at a lower pace than when he right after we came back from the shelter in place orders. that's really a reaction to two things first of all, we had to ramp up to get back into activity and that caused a surge in growth. you already referenced so a natural slowing is expected but i also see the rising case loads. with he no he that voluntarily people have gone back into their homes. they're less confident in being out when case loads rise so i would expect some further slowing as we go forward consistent with the rising case loads. same thing we've been hearing for a while, top priority is get the virus under control. the economy goes where the virus goes

>> president daly, you've been among the federal reserve officials calling for additional fiscal relief. it seems very uncertain now whether or not there is going to be the possibility of relief in a lame duck congress or even the size of one that would happen after the new congress takes their seats. how does that affect fed policy? if the fiscal side does less, does that mean the fed needs to do more? >> the way i think about it is the fiscal support is really critical when the congress came out with the c.a.r.e. se as. act, we saww that helped small businesses get through the virus. the virus is still us with so more is needed. and i referenced that before if we don't get that, then this is it a mini fiscal cliff. maybe even a major fiscal cliff for the individuals who are experiencing that. and i think it's useful to put faces to those numbers this is, you know, people you know who are out of work, conditioned find jobs because jobs aren't available yet. and unemployment insurance runs out. then they can't pay the rent and

maybe they get evicted and small businesses who can't -- who run out of their ppp funding and need more additional support to weather the virus. so this is certainly going to impact those households, those businesses ultimately it impacts our aggregate economy. and the economy would have slower growth in the absence of fiscal than it would have if we had a long and strong bridge that fully and completely gets him through the crisis >> let's talk about what more the federal reserve could be doing here you're doing about $120 billion a month in asset purchases fed chair powell at the last press conference said there was a discussion about additional asset purchases or framework around the purchases can we expect something from the federal reserve as soon as the december meeting when it comes to some change in the purchases that you're making now >> well, let me not front run the committee on what our decisions will be. we're discussing the issues still. but for now, i really see policy in good place. if you look at the expectations of our funds rate, people have

them in the right place. the we said we were fully committed to keeping the funds rate low until we are fully back on track to achieve our goals of maximum employment and price stability. we have asset purchases in place. and we're discussing what more could we do if more is needed. and what should we do in terms of communicating a plan for our asset purchases going forward? those discussions are always on going. but we really had a robust debate as chair powell referenced discussion more than a debate even continue the mission to serve the american people with our top policy tools our policy tools are powerful. just when we say we recommitted to it, we released our september statement, that gives the american people confidence that we're there and we're supporting the economy. >> president daly, yesterday the federal reserve issued the twice annual financial stability report for first time including a section on climate change. i was wondering how to think about that is that a sign that federal

reserve now has elevated the issue of climate change and the potential effect on the financial system to a permanent place and an equal place among other risk that's face the financial system >> well, as you might know, san francisco fed and other federal reserve banks and the board of governors have long been studying this. we have a number of people looking into how climate risk affects the financial system, financial stability, the economy, and importantly our communities. and, yes, it's not that we elevated it to this level. it's that the climate change is coming at such rate that has been naturally elevated to this level. it's just like the pandemic in this regard. it's going to take everyone and us along with central banks around the globe, fiscal agents to think about how we mitigate the risk to our populations and how do we plan for those risks going forward? >> president daly, thank you so much for joining us. i hope to see you again soon stay well out there in san francisco. >> yes, stay safe and stay well. thank you.

>> steve, thank you for bringing us that exclusive interview. millennials taking profits off yesterday's travel stocks surge and doubling down on the stay at home position. kate rooney has more on this kate, what are you seeing? >> hey, julia, younger traders have been loading up on airlines and travel stocks during the pandemic delta and the major airlines as well as carnival and norwegian cruise lines have been among the top 50 most widely held stocks among the millennial investors that's according to apex clearing which clears and custodies for 10 million accounts at firms like sofi, stash, and ali trading volume for the travel names was up 900% yesterday compared to your average monday. but younger traders took that positive vaccine news as time to take some profits. selling for apex clients outnumbered buys by 2-1. mo millennials have been on the stay the ahome stocks as well. zoom, docusign and peloton are

among the top 100 at apex. they're massive winners during covid-19 they got crushed yesterday, trading volume for those names was up 450% versus your average day. it was mostly buying people took that dip in prices as a chance to add to positions with buys outpacing sells 5-1. another area they're doubling down on this week, vaccine companies. after the pfizer news yesterday, that was the fourth most active stock among apex users with strong net buying and sofi and other trading platforms say they also sell more interest in moderna and inovio back to you, julia >> thank you, kate check out shares of disney we head to break the shares down about 3% this morning on news of more furloughs at disney's california parks this after the stock bounced 12% yesterday on that positive vaccine news. it's a reminder to investors that it could be several quarters before disney's parks

can be operating at full capacity but one bright spot for disney, disney plus. the just reporting this morning that disney plus has been downloaded 100 million times estimating that disney brought home $285 million in revenue from the app in its first year there is still a lot more "squawk alley" straight ahead. stayitus wh got all my favorits right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪

welcome back, everybody. i'm sue herrera. here is your cnbc update at this hour philadelphia health officials are telling election celebrators and demonstrators that they should get tested for covid-19 and quarantine in a bid to slow the coronavirus spread nearly 5,000 cases were confirmed in pennsylvania yesterday. that's a new record and more than twice the daily high in april. for the entire nation, daily cases set a record monday with under 134,000 new infections it was the tichlth day sixth daw they reported more cases india is suffering the worst pollution this year. visibility fell to zero in some areas and air quality index jum topped 735 ratings above 500 are considered emergency levels back here at home, on a

lighter note, "saturday night live's" post election show na notched the best ratings since the o scars in february. nine million people watched on nbc which is a sister network to cnbc you are up to date that is the news update this hour julia, i'll send it out to you thank you, sue meantime, the fda granted eli lilly emergency use authorization for the covid-19 antibody treatment we spoke with eli lilly's ceo earlier on that news and joins us with the latest on that meg? >> julia, well this is the first in that class of antibody drugs for covid-19 to get clearance from the fda emergency use authorization granted to lily's antibody of course, this is the same class of drugs used to treat president trump. that was a different drug which is still waiting for the f.d.a.'s word. this is for recently diagnosed patients at risk of severe disease or hospitalization and recommended that people get

treated as soon as possible after they're diagnosed. it's thought that's when the drug will work best. it is given as a single iv infusion which is going to present problems for just the complex nature of how do you get an iv infused drug right after you get diagnosed with covid-19? so that is something that is going to be worked out really in real time. they'll have a million doses by the end of this year that's a global supply they shipped 88,000 doses so far. now cases of course across the united states are rising right now and one particular area of concern is nursing homes we're seeing new data today showing nursing home cases are starting to rise dramatically along with community spread in the rest of the u.s. and a place that these drugs could actually be very helpful is in prevention of cases in nursing homes where they've had an outbreak. we talked with the lily ceo

about that trial >> before we have broad vaccination in the elderly, can you use this to prevent spread f there is one staff member or resident infected, give this to everyone in the facility and protect them from covid-19 that's an urgent use case as well and we're getting close to an answer there. hopefully in the coming weeks. >> so guys, more news to come on that but the earlier use the drugs it looks like the better we'll have to see if that bears out in clinical trials julia? >> meg, thank you so much. so much news there in the past couple days. this is where we start with the next guest formerly the vaccine division chief at the fda dr. jesse goodman. he is now at georgetown. dr. goodman, thank you for joining us today i want to get your thoughts on the pfizer vaccine news. first, i want to start off with that antibody drug use authorization that meg is just reporting on

>> there are very prom is data that led fda to grant this authorization and those data basically show that, you know in, the individuals who aren't very sick but have covid-19 illness, no the hospitalized, not requiring oxygen, in those individuals, using this antibody could reduce the frequency of hospital and emergency room visits and it did that from around 10 to 3%. but that means that, you know, on selected individuals, you have to treat 100 to reduce -- you know, to get a reduction in seven hospitalizations or emergency room visits. anything that could reduce suffering and reduce the utilization of the system would be very helpful. so that's the promising part the what fda said is use these

in people at high risk of applications, for example, people with significant obesity, underlying medical problems and in those people maybe it will have the most impact it's important to point out that supplies are limited that it's still not an approved product where we have complete data on safety and effectiveness and that it would have to be given intravenusly as a medicine, you know, in patients who are not very sick and typically are not getting intravenus medicines >> i'm keerous for yocurious for the big pfizer news out yesterday. the fact that vaccine is mrna treatment and does not actually use a piece of the covid-19 virus itself, how does that impact your sense of what the edge kacy will efficacy could be and the potential risk for a new vaccine like this?

>> yeah. the preliminary data that pfizer presented in press release are extremely encouraging and promising. so that's very exciting? a number of ways you know, they reported that during this, you know, very short period of follow up, because the studies were started in recent months, that the risk of disease in that vaccinated individuals as compared to placebo recipients was reduced by 90% or more s so that is quite exciting and promising. we don't know how long that froecti protection will last we haven't seen any data from the study. pfizer said they will only have the initial safety data, you know, towards the end of this month. so we'll look forward to seeing that it is encouraging. fit holds up, the initial

evidence is proof of principle that vaccines can work it's also proof of principle that the particular protein of the virus that this vaccine encourages an immune response against called the s protein, that can work to help protect people against the virus and that strategy is being used in a number of other vaccine candidates that are am coming along including the other mrna vaccines -- >> dr. goodman >> yeah? >> before we go, please give me your sense of the danger that we're heading into as we head into a cold weather season, into a season where families are used to gathering and might still gather even in smaller groups and perhaps even do that indoors and compare it, please, to the very beginning stages of this pandemic in the u.s. where we saw what, you know, the devastation that we saw in new york, new jersey, some other

areas. >> we're seeing explosive rises in cases to most parts of the u.s. now and we're starting to see health care systems under tremendous stress. this is even before the holidays and as people have gone to social distancing. it really tells us we must redouble our guard, people must do the things that they need to do, you know, to wear a facemask, socially distance or we're going to have disasters in our health system. we're much better prepared than we were. we're still not prepared to deal with that. and the vaccine is not going to get us out of that the supplies, you know, will be some time in coming. so people really do need to pay attention here >> certainly a valuable message, dr. goodman. i hope you'll come back and talk to us more as we get more news out about the vaccines and treatments thank you for joining us. >> you're very welcome. >> keep your eye on mcdonald's today. shares coming off the intraday high yesterday key bank does take the target to

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see yourself. welcome back to the mirror. and know you're not alone because this. come on jessie one more. is the reflection of an unstoppable community in the mirror. mcdonald's unveiling the new growth strategy yesterday, a plan that relies on a digital future like new loyalty programs, mobile apps and payments digital already 20% of sales and the fast food giant's ceo told us yesterday he does not expect that trend to reverse

post covid-19. >> i think the pandemic accelerated this i think we're in this period right now where we still talk about digital. its kind of a misnomer i think once we come through the pandemic, everything is going to being digital. so the idea that there is somehow going to be this experience different from a digital experience, i don't see that happening i think the entire consumer experience at mcdonald's and in the broader retail is digitally enables. and that's what we outline today as a set of moves that we're making so that whether you're going to the drive through, whether you're going into the dine in experience or whether you want to order off of our app, we outline how digital plays a part in that because, again, i think it's going to be everything is going to have digital and we'll stop talking about diblgtgital as if it's a unique thing on the side

>> we've been talking about omnichannel and digital for years as it relates to retail and apparel and amazon and department stores. but it just now coming in to food where we just talk about it as a given it's no the some subset on the side that is extraneous from the overall business model s. >> yeah. it's a quickly shifting model. and general call i wonder if you have any sense from that interview and the other reporting on the risk to mcdonald's joe biden promised to push to raise the federal minimum wage to $15 that would make a big difference to not only a lot of mcdonald's workers but to mcdonald's cost overall, i imagine >> yep and that's one thing we talked about is working with the administration on risk although, you know, we've seen some very large retailers and mcdonald's is sort of in the cohort companies in the service facing industries who are trying to lead on it. walmart is a good example.

they went to minimum wage and better in many -- for manufacture the early associates so i think it's going to be a challenge. the regulatory front, too, not so much for corporate but definitely for some of the operators who are in a sense their own types of small business people. julia, i'm sure that is something that is easy to understand >> certainly it's interesting to me in looking at mcdonald's and creating this relationship with the consume serz going to start to look like big brand television on outdoor billboards i wonder if you have a sense of how that relationship is going to change maybe how ad spending marketing is going to change in the way that mcdonald's deals with the customers >> yeah. i think it's such a great point. and the first thing i think about when you say that is how it's changed politics. and fund-raising and even the efforts right now that we're seeing from various constituencies to raise money

and interest and enthusiasm in various political initiatives. that's happening in food so it would be more trying to drive frequency, trying to get you to buy that extra item when you go through trying to make your visits shorter and, of course, jon, with every second they can shave off of service time, that's more foot traffic they can get through the door. >> yep food, folks, fun, and funds. thanks, carl take a look, meanwhile, at this mystery chart as we head to break. one of the year's biggest beneficiaries of the stay at home trade, yeah, falling yesterday, following the vaccine news out of pfizer and again this morning despite strong earnings we'll tell what you stock it is next when the ceo joins us exclusively. stay wh itus ♪ you can go your own way

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shares of ring central falling a bit this morning, just about flat, despite posting strong earnings following a brief vaccine related selloff yesterday as investors pair down some stay at home names. joining us now exclusively is ring central ceo vlad, great to see you it has been a while. you're on the for the knox podcast back in i believe april of 2018, back then the stock was at $65 now it is very much above that tell me what the big trend has been this year you got some big name customers you signed up. >> yes thank you for having me. look, we had a good run.

and the trend this year has been as it has been prior it's on premise business communication moving to the cloud. we have a saying, cloud is winning and we're winning in the cloud. and it's never been more true than this year and we can do expect this to continue. world of work has changed to distributed, to multimodal, any mode, any device, anywhere ringcentral is leading in that quest. >> 2 1/2 years ago, that was nice to had a f have this year it has become a need to have to be able to reach employees whatever location they happen to be in for them to stay productive how has that changed the deal size that's you're looking at? how has that changed the types

of engagementes that your sales folks are able to have with new prospects. >> look, we had a very good quarter. we just reported our results we had record new logos. that's a big deal. our enterprise business growing in excess of 50% year over year. that's on a further meaningful base of over 600 million dollars. so, you know, we've got this other saying, numbers don't fly. and our success is very clearly visible in our ability to sign up new customers we're able to do that while sustaining healthy pricing levels so our proves are staying very

healthy. we don't see degradation there and with the latest news yesterday with the vaccine, which was fantastic news for us and work forces around the world, with all of that we expect continued growth. work is going to be hybrid after vaccine. some people will go back to offices and some will not. there is simply no better way to light up a world of hybrid business than through the cloud. and ringcentral has been a clear leader for seven yearsnow and running. >> vlad, i want to get more of your thoughts on the vaccine news yesterday the idea that people may be perhaps returning to offices

sooner than anticipated. yes, you have thrived and the business has grown dramatically and you've raised your outlook in this work anywhere environment, but if people start going back to the workplace in bigger numbers, would that diminish your ability to grow new customers or grow that engagement >> we don't see that at all. ring central has done extremely well before covid. you mentioned our stock appreciation, which we are obviously thankful for guess what much of that happened before covid has we have been growing a the a very healthy rate in the 30% range, above 30% always for many years now and now we are a billion dollar plus company and global sales company, happy to have made that milestone and nicely profitable and all of that is before covid

and with covid work from anywhere became work from home police remember, ringcentral was founded on distributors' workforce mobility and work from anywhere -- and work from anywhere this has not stopped during covid, and it will not stop after covid. people will still want to be mobile, people will still want to be productive and as i mentioned, when you are dealing with hybrid environment, when some people are in the office and others are not, there is simply no way to handle that emergency situation where ringcenter has a very strong position >> that was your vision when you founded it and the world has certainly come around to it. the stock is up 57% year to date

vlad shmunis, thank you. >> apple's "one more thing" is set to take pleas in about an hour stay with us plans available to anyone with medicare. many plans provide broad coverage and still may save you money on monthly premiums and prescription drugs. with original medicare you're covered for hospital stays and doctor office visits, but you have to meet a deductible for each and then, you're still responsible for 20 percent of the cost. next, let's look at a medicare supplement plan. as you can see they cover the same things as original medicare, and they also cover your medicare deductibles and co-insurance, but they often have higher monthly premiums and no prescription drug coverage. now, let's take a look a humana's medicare advantage plans. with a humana medicare plan, hospital stays, doctor office visits, and

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apple's hanging on to 117 as we're about an hour away from that "one more thing" event. hi, josh >> apple is, as always, tight lipped about what we can expect today. here is what we think tim cook is going to unveil, new mac computers. these will be different with main processors designed by intel. a new 13 inch and 16 inch macbook pros and a new 13-inch macbook air. revenue bested the street's expectations and represented a jump of 29%. analyst patrick moorehead there

are two big reasons why apple is making this switch to its own custom design processors he said it saves money and control over the experience. apple believes it can deliver a better product if it controls more of the device ben of creative strategies, another long-time apple watcher notes potential risk, he said these new macs better match the performance of the competition like those from dell, lenovo and a.g. >> this is probably the biggest apple announcement from a technical perspective since the iphone went to apple-designed chips. it's a big moment for pcs in general, productivity in this

pandemic and the amount of gross margin apple can successfully capture if they make this chip transition is huge i think the challenge will be app compatibility. we're going to start to see once they ship these things >> certainly there could be concerns in terms of the software compatibility issue we have much pushback. the other thing i have to ask carl is will we see another surprise will we see those tiles? will we see new over-the-ear head phones. is there going to be one more one more thing in addition to that, john >> well, before we close out this hour, we have one more thing. all three of us are staying busy after the show today, this time part of the evolve summit. i'll be kicking things off with

ibm ceo arvin krishna. >> that's an amazing event we look forward to seeing everybody there this afternoon let's get back to headquarters and the judge. >> after monday's monster rally, where will your money work best in the days and weeks ahead? we welcome a special guest, brad gerstner, who will join us in a bit. our traders today. michael farr is back