wrap it up for us. >> gm, slightly over bought short term rsi just hit 75. might cool off for a couple of days it off weeks. be patient rising 200 day starting to turn up here. i really like the setup. >> a lot of gm thank you, guys. good to see everybody. thank you. "the exchange" starts right now. ♪ thanks, scott. hi, everyone this is "the exchange," and i'm kelly evans. scott moving down today but fund managers' optimism isn't in fact, they are the most bullish. fade the herd or follow it we'll debate plus, what's the future of travel we'll speak with the ceo of trip advisers about their big bent on rentals as rival airbnb gets ready to go public the ugly side of multi-class share structures it's all coming up here but first here's dom chu with the market this hour hi, dom. >> a little bit of dip buying today because at the lows of the

session early on just around 10:00 a.m. eastern time the dow jones industrial average was down roughly 430 points. at the highs, that was just within the last hour, we were down roughly 102 there, so towards the higher end of the range so far, still a down day with the nasdaq outperforming today, flat on the day as well, but still a little bit of the dip buying in midday we'll see if that carries over in the afternoon trade speaking of the future of travel, the best performing stocks in the s&p 500 have to do with the most beaten up stocks during the covid pandemic. think about travel and office space and think about what's happening with retail. sl green, big office space, up of.5% and norwegian cruise lines up 5.5% and ralph lauren up 5%, beating up retail, beating up travel and offices doing some pretty good work here and then we don't often show it but we're going to show it it's bitcoin price there are very vast measures of pricing and what not still though, 17,796

we're closing in on 18,000 per token. the reason why it's important. you've got to go all the way back to december of 2017 for the record highs that we saw that was just a hair under 20,000 per token remember, near the lows here on that pullback, we were talking closer to 3,000 per token. again, a big move in bitcoin be sure it's catching the traders' attention for a lot of folks out there. see if that carries over as well back over to you. >> i'm glad you highlighted that i did see that today and i think it's important to note that we're getting back to the all-time highs dom chu with the latest for us. desthe bite the whole move lower, bullishness is booming. check out some of the stats from bank of america's new global fund manager november was the biggest manager of the year. gdp expectations surged to a 20-year high cash levels have fallen back between pre-covid levels and there was a big jump in small

caps, emerging markets and stocks overall, all of the risk-on segments should you follow the herd or fade these moves let's bring in jeff crumpleman with mariner west advisers and katarina simonetti joins me, senior vice president at morgan stanley. great to have you both here. jeff, we'll kick it off here follow the herd? >> well, you know, we -- we don't follow the herd very often, i would say, if you look over the past several years and have been contrarian going all the way back to march. we were very positive when most folks were negative taking price targets down we'll in a bear market forever, and i would say that our message has been pretty consistent, hold your ground, don't sell, but i think you need near-term caution and should expect heightened volatility at this point next term we're balanced with a blend of growth and value that we think is very appropriate

a lot of good things out this and you never know it will -- we like the growth stocks that are broad anything out in technology and other areas. you don't need to own the faangs and within the more ordinary stocks we find opportunities in industrials and materials. >> okay. i want to come back and ask you about a few of the names maybe perhaps your enthusiasm is temper the overall relative to the rest of the fund manager universe katarina, what about you >> kelly, it is nice to see such optimistic reports, and morgan stanley has been there for quite some time and been in the bull market since march, despite the natural volatility and despite the fact that we had this slight correction in september, and we're optimistic about 2021. in fact, we believe that the name of the game for 2021 is who

can deliver the earnings, and it's natural that investors are strategically positioning their portfolio for the post-covid recovery in '21. >> katarina, i think it's interesting that one of the areas that you guys are bushel on are companies with china exposure why is, that and who is that >> well, there are a number of sectors that we're looking at, and, of course, you know, all of this comes into play, but, again, you know, in my opinion it all comes down to earnings, and it was very much the stock pickers' market and we focused on the companies and specifically the sectors that took the benefit from the returns that haven't been priced in yet this is very much a stock picker's market and we see a lot of volatility before the year end because they present buying opportunities. >> jeff, i don't know if you have a view on china per se, but you certainly have a lot of individual stock names

looking at the health care space in particular because that's an area that we've been talking about, how berkshire has added big names to its portfolio there. what's the justification why a name like bristol-myers? >> well, it goes back to company specifics. if you look at just their portfolio and product profile, the opportunities that they have within oncology are very exciting as well as some other opportunities and new indications, so you've got a stock that's priced at, you know, mid-teens with close to double-digit growth rates with a wonderful dividend, a great balance sheet and some nice product momentum, but would i say also within technology, one of the big things going on right now are folks saying, hey, can this tech thing continue and we find a number of stocks within technology that are priced also at teams like growth rate that are non-faang, f-5

micron, qualcomm and others. these are growth at reasonable price right now so that's part of the reason you don't abandon growth whether you find it in health care or some of the market names as the economy broadens off. >> thank you very much for weighing in on this today. appreciate it. we were just talking begun health care. let's stick with the stock story of the day which is huge declines in the biggest pharmacy names after amazon launched its own online pharmacy and a discount card that are can be used at other pharmacies, especially bad timing for good rx which recently went public. the stock today down 20% bertha coombs here with the late for us bertha >> reporter: we've seen this coming for the last three years. amazon's new online normalcy is in network with most insurers build begun on its $1 billion acquisition of pill pack while it won't have physical pharmacies, if you need a prescription right away you can download a card at get it filled

at a drug store. you can also talk to a pharmacist virtually now prime members get free two-day shipping and a quick comparison on cash prices when you pay without insurance putting it in direct competition with good rx the best known of the cash discount players to the get a look at comparisons you have to open an account and after entering the last four digits of my social and date of birth i was surprised when the system automatically generated my insurance membership number which makes you wonder about your personal data t.j. parker, the founder of pill pack, tells cnbc the experience inside the pharmacy is separate and distinct from amazon.com and that data will be stored in compliance with health policy rules and not use it for marketing but it's surprising that i didn't have to enter in my insurance data. >> now i want to try it.

kind of creep, but it highlights its rivalry with walmart who reported earnings that had everyone raising their eyebrows. how much does this encroach on their territory? >> well, walmart is also one of the biggest players when it comes to pharmacy. interestingly they were asked about it on the call and doug mcmillan and the head of walmart u.s. both said, look, people want an omni channel sort of experience just as they are doing with the rest of their shopping they want to be able to come in the store and talk to someone when we neat to and want to maybe be able to pick that up quickly, can do that in a contactless way and they also have mail order. the real -- the difference is what will it mean to others that are doing the discounts? tomorrow we'll talk with doug

hissish, at the summit it will be interested to see how he reacts. looking forward to it. >> our bertha coombs following that story today how will cam -- joining me now is the executive director at royment john great to have you here tell me about the double blow that you see at the retailers be and what option do they have to respond here >> thanks. good afternoon the two negatives are only number one only about 5% of pharmacy volume today is done by mail, and, new two, good rx, as successful as they have been they have only 5 million memberser so poe tonksly i have

another army of consumers which are neglect. the descount card is not a big a negative because the hard retailers tonight do anything -- this -- this is a big surprise in the model here. in other words, we won't take a bunch of $100 transactions and turn them into $10 transactions. the big risk is can amazon share consumer behavior and move it to online like in other areas that's the big unknown and we'll do more work with our partner. i'm not so worry about the sharing side you have a hold on walgreens and

buy on yfs. >> it's interesting to point out and that you havine the because amazon wouldn't -- >> this is clever. these are cigna's pharmacy network. they partner with significacign. this pbm cash card business is sort of health care 301. it's a little bit complicated and what amazon has done is they found a partner to build out the network and to provide the prices >> so let's spin this forward. how do you think this business evolves over the next couple of years ? amazon, a, takes some share,

b, moves this share to online and where's that leave the incumbent? is this a good kind of industry shakeups, or is this something that just kind of eats away at everybody else's share of the pie? >> so i -- i think the initial thing that will happen is pamson probably will convert some of the online share from pbms and to amazon and the reason for is if you use caremac or optum. they are clunking interfaces to get the drugs so amazon with the two-day freeliry people have lots of reasons to go to the drug store to get their script if your kid has a ear ache

you're not going to wait 40% of scripts are cop sumd by the elderly. we're less -- kelly, it's not new that you can get scripts mailed to you at home. insfacart with grocery, some of that was actually new. the fact that you can get strips delivered to you, that's it will eat into it. i'm curious to see what happens. >> yeah. fair enough. >> moving is not at great campaign thanks for joining me today, appreciate it. >> thank you. coming cup, a trend investors don't seem to love so much so why isn't there more pushback companies going public with three, even four different share classes. we're going to look at the good, bad and the little and trip adviser doubling down on

vacation rentals as rival arab bee gets rid toe ipo we'll talk about the trip ceo about the new strategy for holiday bookings and their new subscription service we're back after this. stay with us ♪ you can go your own way

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welcome back door dash and airbnb leading the rush of companies to go public before year end. another thing they have in common multi-class share structures which are quickly becoming the norm. leslie picker joins me now with more details leslie >> kelly, that's right it may sound like a first class problem but founders are increasingly collecting investor cash while giving them unequal investigate rights and it's not just your run of the mill dual class share structure. we're talking now triple and even quadruple classes are becoming more mainstream just in the last few days, for example, is door dash said they are going public are class "a," "b" and "c" stocks in recent years issuers have gotten more classes with their

share classes and earlier this year there was an "f" share that allowed them to maintain voting are rights individual investors are often opposed to relegated control and multiple classes of stock can lead to weaker governance, less security and in certain cases underperformance companies argue that these structures prevent management from bending the short-term needs of the market giving strategies time to play out. kell >> appreciate it the jury is still out on the merits of multi-class structure companies for investors and so many are recent ipos should there be more pushback on this trend and should investors avoid these kind of listings ? joining me is duncan davidson, a partner at bullpen capital good to see you again, and can we paint all the different share structures with the same brush or are there specific kinds that people need to stay away from?

>> you can paint them all with the same brush they have the same goal, to main control. it's a big question do we want this to happen but when a star founder comes in, you let it the happen >> this reminds me a little bit about the detastes we've had over the likes of facebook, but also in fairness, media companies have been doing this as well for aing lo, long time so in that sense it's not new or unique to steal, but there's something that goes a step beyond we're not talking about two classes, we're talking about three and four how much more of this do you expect >> i think it will be expanded to stupid levels look, the point about this is your introduction is exactly right. people are afraid they will be prematurely put into a profit path when they want to grow. understand the great international land grab is on. huge franchises are being created right now. so this is not the time for people to manage profit.

they should instead grow at all costs, so as i put it let the founders channel their inner steve jobs or elon musk and create a great company do you bet on that or bet on profit you should bet on growth. >> is there a fundamental principle here getting lost? it seems to me that companies are basically trying to conflate two things saying we want the control, you know, of being private with the benefits of being public so we'll give people access to our shares but not let them have any control. well, the whole point of these structures is that investors are owners in the company, that they have a say, right? i mean, aren't we turning some of these fundamental issues in finance on their head? >> i think what the tech people are afraid of is the following in general there's been no second act in the tech company when steve jobs left apple it was fading he had to come back.

there's a number of examples where when the founding energy goes away the company does not take off like craze. it sort of fade, so the bets you're making is to keep that energy in the company and not prematurely take it out. what these companies really are worried about is suddenly a corporate raider comes in or a pe firm, tries to strip all the profit out and increase the dividend, et cetera, and they never will ever achieve their second act in growth now, it won't always work. some of these companies will fade and screw up, and you wish you could get rid of the founders, but you're making a bet right now. the internet land grab bet versus profit. right now the time is make the bet. >> so last question, duncan. what would your advice be to investors? do they take whatever the company gives them because that's what they are fundamentally betting on and that's what they want exposure to or should they let these opportunities pass by and kind of hope that somehow pressure will be put to bear and change

the minds of this new crop of corporate leaders? >> well, i think we're in a rare moment of investing history. when you look at these tech companies, it's not clear what replaces them. you create a franchise internet land grab and you might own it for decades. this is the future of 1450 if you want to think of of it that way so this is not a time to manage it and make it better the public stock market will discipline these companies anyway look at google right now ing google never really came up with a second act despite starting this whole thing with control, so what's going to happen to google well, it may split up into several companies, may do something different, so over time the pressure will still be there even though it's not specifically to take out founders and to take over the company. so the public markets do discipline companies without having raiders come in and strip everybody out of the company. >> interesting, interesting.

it does seem that way. so i guess we shouldn't expect anything but this trend to continue for some time duncan, thanks for joining me. good to get your perspective today. duncan davidson on the new ipos. coming up, berkshire's big protation coming out of banks and investing in another big area of the market news on that. and tesla soaring on the news it will be added to the s&p 500. tesla is at $416 million, walmart at 431 billion and visa at 450 billion is this a reason to jump in or jump ship? stay with us what do you look for when you trade?

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welcome back to "the exchange." down day in the markets but we're well off the lows when the dow was off 430. we're down is 6 is, is half a percent decline and nasdaq positive by 17 points and s&p half a point real estate is the only sector trending positive right now, up just a hair. meanwhile utilities and materials are the biggest lag yards right now across the market utility down 1%. time for a news update let's get back to headquarters with our sue herera. >> good to see you, kelly. here's what's happening. america's health care providers are urging president trump to quickly share covid data with president-elect biden's transition team.

the in a letter the heads of the american hospital association, american medical association and american nurses association write that sharing realtime information will save, quote, countless lives, end quote. >> as secretary of state mike pompeo toured an istanbul mosque today, he was greeted by masked protesters, a visual reminder that a second covid wave is hitting had turkey and now president erdogan is imposing tighter restrictions to fight the disease, including partial lock counternationwide. and here's some visual evidence of the severe impact of covid in the midwest take a look at that. a line of cars in chicago waiting for tests, and it goes on and on and on and on for about a mile we actually don't have time to show you the entire video because it goes around, turns two corners an circles back. that's just where we are in this pandemic, kelly. >> wow. >> i know. it's pretty sobering. >> i had not seen that

holy cow. >> yeah. >> holy cow. >> you got it. >> picture's worth 1,000 word and video worth 10,000. tesla joins the big boys in the s&p and movie theaters making another attempt to save their business all ahead in rapid fire take a look. shares of home depot, the stock falling despite reporting a solid earnings beat and 24% jump in same-store sales. just massive, but, still, been one of the best stocks of the year the company says it prance to permanently increase competition for their hourly workers it's been a busy week for hd down 3% today. we're back in two. before we talk about tax-smart investing, what's new?

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welcome back let's get you caught up on a few stories that should be on your radar. time for rapid fire. here to break down the headlines are leslie picker, michael santoli and julia boorstin welcome, everybody first up, finally happening. tesla joining the s&p 500 on monday, december 21st, the stock shooting higher, on pace for the best day in two months and its current valuation, this would be one of the ten most valuable stocks in the index.

tesla is up more than 500% in the past year. we bring in special guest phil lebeau for more on a big milestone but one that is kind of hard to believe just how big tesla has gotten and how valuable. >> well, just because it's happened primarily over the last three years. i mean, this stock went public ten years ago, and if you would have told somebody back then, look, tesla will be in the s&p 500 one day they probably would have scoffed at you for up to two or three years ago beginning of the model three deliveries real we sales took off those sales were important because with the sales came the ev tax credits which are then able to and have been able to sell to their competitors, and you'll hear the critics say, look, the sales of those tax credits, that's the only reason they were able to turn a profit over the last five quarters. i think it's a little disingenuous to say that's the only reason. one reason to say, okay, they

made profitability and can be in the index but really if it wasn't for tax credits they wouldn't be there. >> yeah. so we hear that a lot. mike, we've talked about that a lot h. mike, the share price reaction is pretty interesting to me because i could just easily believe that tesla would sell off on this news on buy the rumor, sell the fact move, but that's not at all what we're seeing today >> i think what happened is a couple of months ago s&p by not including tesla widely seen as a snub because it had run up in the advance of the prospect of that happening, the s&p wrung that expectation out of the stock to some degree and the stock calmed down largely. at 500 bucks at the peak back there in the summer. it does seem that this is pretty decent it's bigger than the typical gain that you'll see in any stock when they go into the s&p. i do think we have to keep that into mine. multiple stocks go into this index every year we don't talk about it a lot it's usually a blip. it has repercussions about the rest of the index and the

mechanics of how it goes in. it's a rare thing to have this honor bestowed on a good-sized company like this. >> finally, phil, before we go i think i heard that this makes elon musk the third richest person in the world, is that right? >> yeah, yeah, on paper, it makes him the third richest person in the world and they continue to move forward remember, he's got that pay package send up so the next tranche, when it comes, i don't know how it will bestow on him but in terms of stock awards, that's the key here. they have been able to hit the pay metrix that when they first set it up a couple of years ago, and i think it was 50 billion over the 12 metrics, people said oh, you'll never hit any of those. you won't hit any of those, and now they have already done it twice or he's done it twice. tesla has done it twice. >> it's wild. >> yes that's the key there. >> yeah. we appreciate it the again, $416 billion, tesla is approaching walmart's market cap. probably just a trade or two

away from that at this point phil, thank you. let's talk warren buffett. berkshire hathaway making a big bet on the drug stocks we learned in the conglomerate's late files they have positions in abbvie, merck rand bristol-myers squibb everything with this portfolio to me with every 13-f feels more and more like every other v.firm. >> more diversified. remember, early on in pandemic he sold back airlines and paring out his stake in financials and we don't know who is behind these specific investments i was looking at the history and i couldn't find an incident going back five years when he invested in the these phrma stocks really interesting play and the question is does they actually see this space as being undervalued especially as we've seen some trading around vaccine development and the potential

tam surrounding this space moving for a it will be interesting to see kind of what the thesis it is with berkshire and how long they really hold on to these stocks. >> yeah. mike, hi this vision, you know, warren kind of lets the fun managers do their thing and kind of sits back and waits to see like oh, maybe a s&l a good idea you know what, i'm going to kind of personally get involved in this one don't you get the feeling like he's all right, i'll watch what you guys do. you'll be running the show soon enough anyway and what i'm real interested in is when berkshire itself goes and makes the acquisitions and the biggest statement they have made this year was when -- when warren himself said, no, i'm out of the airlines, charlie, too they said we don't know what's going to happen with this pandemic and don't feel the conviction to buy anything and here we are with them buying their own shares back. >> buying it back at a valuation

that they think is okay. this is very much a place holder type, portfolio move it would seem whether it was warren or other phone. obviously it's a different source of steady dividends and decent participation in the market, maybe the democrat graphic overlay and when you see the same names in the same sector it's more of a portfolio adjustment rather than thinking i have an edge and we're going to bet on it it's something special for a bit of the bank exposure >> exactly they are moving and diversifying somewhat, but it just feels to me, yeah, that's what everybody else does did. i want them to be different. all right. let's move along and talk about another big win for streaming. universal following up its historic deal with amc theaters with an ayeemt involving another theater chain which shortens sheet call window from tree months to as few as 17 days. both stocks, comcast and

cinemark up 4% comcast is trading higher, our parent company as well as being the parent company of julia. at this point this is setting the double -- >> studios will now have the flexibility of how they want to release their films and i would expect the other movie studios to follow as well. what's so interesting is it's not just about shortening the window, it's about giving flexibility so if a film is doing very well and a film opens to $50 million or more, part of the deal here is that it will stay in theaters for five full weekends or 31 days so the idea is to figure out how to maximize the box office and also maximize that premium video on demand revenue, what they call the

povd, kelly. >> the pandemic, people are accustomed to being able to do streaming. i'm not saying they won't ever go back to the theater for the experience but the cat's out of the bag. >> interesting that cinemark's has moved higher on that news. consumers are digesting the way, one example remains, is this kind of something that contained after thing go back to norm a.m. and does it go away with people going to theaters and seeing movies three months after they debuted. >> exactly i think we all want to talk tom taylor swift and talk about -- the rights to taylor sift's first six album have been sold

to a private equity capper downfor more than $300,000 m.we know she was upset about the, is this not disney company's private equity company this is going to be good for taylor and she found out scooter is informed. >> do i have it right. yes, you have it right to the about interof taylor swift has the rights to her first five albums with big machine that were just sold. once she re-records them which she is able to be do now, then wee can get soft revenues if the songs are used in commercial or anything like that, but for

scatter brown and his big legal, they are extricating themselves from that situation and that bad below and because -- there will be -- that this bosser t-- taylo swift able to take control of her albums. >> with taylor swift, hers might be the most complicated and if she re-records her songs, do you think people will like the new versions better than it the other ones >> i think enough people will like them maybe not better but they will be able to stream those or anything, and it's interesting that she now has a invested interest economically, and it seems like as a matter of principle of diluting the value

of her own back catalog which is what she's attempting to do which is the purchase rast right was what the previous buyer paid for them we don't know the terms in terms of whether had the new buyer participates fully in all the royalties. >> yeah. leslie, we've had this debate in the newsroom in the past, but i'm of the mind -- i'm always that person disappointed when i hear a song i like live with a few rare exceptions for the most part you know, what i like studio track, but others are saying, no, no, no they would always rare here it live or hear a different take on their favorite songs or always rather, you know, stream those instead. where do you fall? >> i'm with you, kelly i like it the original way i heard, it especially if i listen to it 30 times and have memorized are all the different internationals of the songs and the singing. i usually err towards original version and when things get mixed up and i'm singing is along oh, wait, got to change

things along. >> can't hit the high notes in the live version. >> it's just a mess. >> we'll leave it there for today. michael santoli, julia boorstin and leslie picker. >> will rising covid cases across the country keep travelers at home? we'll ask. the stock making a comeback in the past several month u30s,p %. we're back in a couple hi, my name is sam davis and i'm going to tell you about exciting 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

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seema mody joining me with the details and their special guest. >> airbnb has disrupted the travel industry. in many ways it's pushed expedia, booking, marriott to invest in their own vacation rental platforms and that's what travelers are booking. homes have become increasingly popular as urban residents search for locations outside of cities to work from home and while airbnb did see bookings fall in the first nine months. year it did fare better than the direct competitors though those numbers account for flights and hotels trip advisers wants in on the $70 billion home market building out on its own vacation rental site with over 850,000 listings, but ceo steve coffer sees demand over time returning back to hotels steve joins us in "exchange exclusive. welcome back good to see you today. i know you've had a chance to look at the 1 d.a. 1 your thoughts on its financials? i assume you're not putting money into airbnb as you think

consumers shift back to hotels from homes over time. >> i think travelers want choice and want to stay in a rental in parts of the world in covid time and also want hotels and concierge services and we're looking to fill every desire of travelers looking for a great vacation and we're indifferent whether that's a hotel or a rental or anything else. >> reporter: what kind of demand in searches are you seeing on your vacation rental site? i know you're been building your inventory with partners like vrbo among others? and how will this change with winter now in focus ? >> with covid times in particular, we saw a drop in demand for the urban apartment typesetting and more of the secluded out in the wilderness looking for a place to hike or

something, you know, frankly, far away from other people as one could imagine. but as the great vaccine news that's coming out, as we and so many other companies plan for a robust travel recovery, especially in the leisure sector, we know that demand is going to return to all those wonderful places that everyone loves to go, the bigcities, th tours, the activities and, of course, there's no shortage of amazing properties, hotels as well as rentals to stay at when -- when you go to our wonderful big cities around the globe. >> and perhaps it is this robust recovery that you're betting on as toss why you're launching this new subscription service, $99 a year tell us how this works and the timing of this launch given that right now we're in a period of time where lockdowns are being reintroduced hard to see where that rebound or when that rebound in travel will happen. >> it is a little hard to predict when, but we're going to be red re, so we've done a lot

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this jives with our experience thank again for joining us and speaking about all the different initiatives along the way. seema, thank you very, very much for bringing that to us. coming up, coronavirus cases continue to rise in the u.s. and california is now taking dramatic action to stop the spread ult ave the details in whait cod mean in business across the state. stay with us e. then currency came along. they made it out of copper, gold, silver, wampum. soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future.

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happen so we are just preparing for the worst case scenario. >> california hoping to avoid a worst case scenario is now enacting some of the strictest call back measures yet aditi? >> a pretty dramatic rollback in california as governor newsom is putting the breaks on reopenings the number of coronavirus cases doubling over the last ten days. california is moving 2 cou8 cous back into the purple or most restrictive tier, including people living in santa clara county where i am and orange county nine are back in the red tier, which includes san francisco, which moved two levels up from the least restrictive yellow

tier san francisco is rolling back the reopening of nonessential offices and will reduce the capacity of gyms to 10%. meantime, some california elected officials including newsom are facing a backlash over their own gatherings. newsom has apologized for attending an outdoor birthday dinner for a lobbyist at the tony french laundry restaurant and a group of lawmakers from california, washington and texas are also catching heat for attending an annual conference in maui this week. kelly. >> thank you very much, aditi roy. we're going to speak with the ceo of holy name medical center about if we're btepraretr eped for this surge stick around, it's right after this

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welcome to "power lunch," john fort will join me in just a moment we're down about 175 right now, down more than 400 at the lows nasdaq turns positive, same with the small cap russell