i want to buy salesforce and sell adobe to raise the funds for that trade. >> okay. carrie, is it? >> i love it booz allen, hamilton. >> quick names, john and then rob. >> wba, bought it as we just came back. >> rob >> vxf in the pittsburgh steelers on thanksgiving eve not anymore. that game was moved to sunday. >> happy thanksgiving. "the exchange" is now. >> that was brutal thank you, scott welcome to "the exchange" everyone and on this thanksgiving eve i'm kelly evans. home for the holidays. the housing market is hot and soaring prices and are both housing and stocks getting a little too hot we'll ask. plus, special delivery pharma companies are readying to ship vaccines, so how will the states actually distribute them? we'll speak with the governor of

nebraska about his plans as cases rise, and slacking off the goose is cooked. hoarding credit card points and gapping down it's all ahead in rapid fire today, but let's begin with the markets this hour. dom chu here with that for us. hi, dom. >> there's no gap down for the broader market, but we're pulling back because why no. we did hit a record level for the s&p 500. dow industrials 30,000 the key mark for the dow and now we're pulling back by half of 1%, 150 points the s&p 3629 the last trade and .01% and outperformance today from the nasdaq composite, up almost one-half of 1% take a look though at what's happening with other parts of the macro mark we don't often look at the credit markets, but in this case with stocks at record highs had, could we be due for more stress in the overall market? well, two parts of the credit markets say no these two etfs track both investment grade corporate side of things and the high-yield

corporate side of things look here. we've seen no real downside moves in either of the etfs that track the key parts of the bond market at all so perhaps for the time being a pullback, yes, a deeper cut for the markets, maybe not yet, and then the stock of the day you mentioned it slacking off well, slacking up today. you can see they are up by 25 points near the highs of the session. $36.86 because of that dow jones report from "the wall street journal" seeing that salesforce might be looking at a deal to acquire them kelly, i guess the point is maybe not out of the realm of reason salesforce, the second best performing stock in the dow so far this year yes, it only went in in august but still, a 56% gain. maybe it has some currency to possibly make an acquisition a big move tlmptshere i know we'll be talking about it more. >> save for you thoughts see you soon let's get to housing with the new home sales reports soaring versus this time last year

diana olick has all the numbers for us diana? >> yeah, that's right, kelly, and the monthly figures were basically flat because the previous two months were revised significantly higher but sales of newly built homes beat expectations by a lot. up 4 is.5% year over year nationally to the highest pace since 2006 sales strongest in the northeast and the midwest, but, of course, up everywhere. the median price of a newly built home continues to rise, up 2.5% year over year to 3,30,600. the big issue snow falling inventory, down to a 3.3-month supply down from five and a half month supply in october of last year they are facing a lack of land and labor and material costs are rising as well as supply chains slow due to covid. all of that is showing up in a really interesting stat very deep in this report. the number of homes that were sold in october but hadn't even been starting yet, up 67% year over year.

that huge backlog is going to mean slower delivery times, and that will hit the builder's bottom lines in earnings because they don't get the full payment until they deliver the full home kelly? >> that's a good point the timing could can be off, although it still reflects such strong demand like you said. diana, stay right there. let's bring george retu into this conversation. george, what are the superlatives as you're watching the housing market and trying to figure out how long this momentum is going to last. >> excellent question, and the truth is it seems that housing so far as we knock on the doors of winter are still in the summer heat. demand continues very strongly fueled by historic low mortgage rates fueled by savings. think about all the people that have really worked from home for the past eight months. they are able to save a lot of money from everything from

right -- dry cleaning and other bills. a lot of that is translating into a higher purchasing power inventories at record lows across both spectrums of the market and for me when i look at prices, that's where i see a lot of heat, right prices for new as well as existing realtor.com listing prices just this last week coming into the thanksgiving week up over 13%. clearly buyers are continuing to look for solution to this social distancing remote work world. >> right diana, that's why i think it's interesting to look at the housing market and which way it's going to go when we start talking about kind of the reopening and road to normalcy next year. you know, will it be a case where it's a clorox and a pelton and a zoom where people say, you

know, this was demand that was pulled forward and there's going to be quite a hangover or not. i mean, we know that this is also changing the mentality for a whole generation of people who are renters and now thinking about homeownership or kind of forced into the pool, and for those who maybe didn't get their home this year, they might be back in next year. what do you think? >> yeah, absolutely. look, this isn't like a piece of, you know, exercise equipment and you're saying, hell, i'm going back to the gym. this is a house and something that you'll live in that's your sense of security all the time i think a lot of people were really hit hard by that this year, and it's not going to suddenly change next year. what i do think you're going to see is that prices will have to cool a bit and more supplies should come on the market and that will help, but affordability is really key. you may want a home a lot but if you can't afford it you can't buy it what i do think we'll see as we get a vaccine and this starts to look a little bit in the rear view mirror, we'll start to see people heading back to the city

a little bit, perhaps bargain hunting. we're seeing that from real estate agents who saw everybody flee to the suburbs and there are shoppers in the cities looking around seeing what the prices are, and they will get back into that mark. i don't think you're going to see overall demand for housing drop because the demographics are just so good millenials, having children, wanting to buy houses, and this pent-up demand, not just from the spring it was already there before so we need more supply. we need prices to come back a little bit, but i do think demand is still going to be strong next year, especially if mortgage rates remain this low >> right, and i know that's a factor as well, but no one is talking about them going to levels that would suddenly change equation, i don't think we'll leave it there with a big thanks to you both today for talking begun this phenomenon. diana olick and george ratiu of realtor.com. housing had stocks red hot with the major averageses on pace to rally 10% but it's not tempering enthusiasm for this

rally. in fact, bullish sentiment is super high showing the highest bullish level since january of 2018 you may recall that was right before a big selloff the green index back near the prior highs we saw before the covid bear market so are the warning signs? joining me now is the chief economist at steiffel and chief investment officer at allen advisers i'll pick up that point about stock market sentiment does that make you cautious? >> i'm not that cautious i mean, here's the things to worry about. i do believe the market is really priced to perfection. i believe the market is very excited about politics today, that the market gets to sort of have its cake and eat it too we get a steadier hand at the presidency but we have a divided congress and there's a big chance that that congress stays divided after the georgia runoff election and so you don't get all of the socialism that could

possibly come with a democratic regime but you do get hopefully bigger there are a lot of pauses in the market i do think the market is priced to perfect i think the vaccine is priced in and certainly there's some reason to worry about those items. >> and let's talk about the economy and kind of the fundamentals that have been underpinning this because so far the stock market's rise has been corroborated by the rapid drop in unemployment and the strong gdp rebound that we've see where are you on the economy next year you? know, we talked to mike feroli who said they are looking at a negative first quarter but wouldn't rule out a boom in the back half in a post-vaccine and post-stimulus environment. >> i think there's two clear

diverging themes for the u.s. economy. we do have to recognize that growth rebounded and we've seen a very strong performance in housing as we just heard, manufacturing, in auto sales, but we're already beginning to see waning momentum on the part of the consumers retail sales at at multi--month low and consumption also falling to a multi--month low so really setting the stage for increase pressure on the consumer now you layer in increased risk of additional restrictions or lockdowns as we see the number of covid cases rights, and even if it's a lockdown lyght scenario compared to what we had back in april. this is likely to have a devastating impact on overall growth as consumers, workers and businesses are already at an extremely fragile position after months of hardship, so going forward depending on the depth and duration of the second round for surgeons, it's very likely that growth slows significantly going into the new year and

potentially falling back into negative growth, so setting the stage for a second round recession. >> yeah. no, i mean, you would -- lindsey, how likely do you think another recession is because, again, mathematically i take your point on, you know, what could happen for first quarter gdp but it doesn't have -- if that's what we're predicating recession on, you know, it doesn't sound like anyone is convinced yet. >> no, i don't think anyone is convinced because optimism is focused on the possibility of a vaccine. we're focused on the optimism of chair yellen potentially running the treasury as opposed to a more controversial leader such as warren so i do think right now we're focused on the longer term prospects for the u.s. economy and longer term we do expect the u.s. economy to recover out of this pandemic, but we have to remember a lot of variables have been pushed to the end of the year. federal assistance is expiring forbearance opportunities are

expiring all of this is going to compound pressure which he haven't necessarily seen filter into the numbers in q3. >> yeah. no fair enough fair enough, and that's why i find it interesting that it is juxtaposed with the bullishness on the markets allan, let me close by turning back to you on some of the ways you would recommend that investors get exposure to the markets on a lot of the value plays. is that right? >> when you look at 2020 it really was the growth stocks, and in particular it was the -- the facebook, apple, amazon, microsoft, google trade. there's a lot of companies that are trading at really, really low valuations today, and if you think about 2020, it was really dominated by a handful of stocks there's 425 other stocks in the s&p 500 that, you know, some of which are very correlated to the vaccine news, very correlated to an uptick in the economy and very, very inexpensive like i look at a stock like

verizon which is real just a steady eddie in terms of producing earnings and revenue, and that stock is trading at a 12 times earnings, next years year's earnings when the market is trading at 21 or 22 times next year's earnings there's a top of value if you have the patience to look through the potential value. verizon another example, 4% dividend yield in a world where the treasury yield is less than 1% that looks really attractive. >> you've got to have the courage to step away from some of the big-cap tech names that have been doing so well. thank you both today appreciate it, for sharing your thoughts on the market and the economy. coming up, states are getting ready to face a new challenge when it comes to covid-19, its distribution of the vaccine. we'll speak with the governor of nebraska and consumers are still buying in stores, but they are doing it in a much different way. we'll have the latest in what that means for the holidays

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one. hardest hit states is nebraska with 972 hospitalations and almost it,000 daily cases. nebraska preparing for a rollout of a vaccine to curb the pandemic but pfizer's cold storage to prove to be a big challenge for rural air isia joining me now with more on their distribution plan nebraska governor pete rickettss. governor, great to have you. >> thanks for having me on. >> how quickly do you think people in your state are going to receive this vaccine? which vaccine are they getting, and who is getting it? >> well, according to the reports that we're seeing right now pfizer has turned in their information to the fda, and if the fda meets on december 10th and a approves it it could be as early as getting shipped to us maybe december 12th, and that's the one, of course, that has to be kept ultra cold my understanding it will be shipped directly to hospitals, but, of course, that works out because our health care workers are the people we'll be prioritizing first to get the vaccine, and then with regard to distribution across the state we will work with regard to making sure we can get it to places

where it can be distributed and still kept ultra cold and used quickly so that the vaccine stays good >> so who is picking the vaccine recipients here? is it the federal government telling you guys, or do they say, you know, they tell you some portion of it the do they leave it up to you do you then leave it up to local officials? how does that work >> yeah. so, it's really a collaborative process. the cdc has issued guidelines with regard to who they think should be prioritized. we at the state are working on our own plan which closely mirrors the cdc plan you want to start with long-term workers, health care workers and people who are in direct threat of getting coronavirus positive, get them the vaccine first and then we'll be moving beyond the staff to long-term care facilities and residents who may be more vulnerable to first responders, other folks who will be in that more vulnerable category, so what we're going to do is create our own plan based on the cdc guidance and work

with our local public health officials to be able to execute that plan on ground so the local public health people will put it into place in each different community but with the guidance from the state and with the cdc. >> how many doses do you get is it based on state population or state need, and what happens from there are health care workers who choose not to receive theirs >> we will be getting, it we're told, it on a per capita basis so we'll have to obviously wait and see. if you, you know, think there's going to be 6 million that will be done with pfizer that would be 38,000 would come to nebraska we will then send that to the hospitals and so forth to be able to distribute, that and with regard to the health care workers themselves, if they are choosing not to get the vaccine, that's really going to be a policy issue for that individual hospital to deal with. that's not really something that we at the state will intervene with. >> and i wonder as we look at

the covid cases that you have now, any regrets about not doing a statewide mask mandate sooner, and i ask the question knowing that it the outcome state by state does not seem to be directly correlated to whether these mask mandates are in place but is more complicated than that, so that said, knowing what you know now would it have been useful to say to people even a month ago, two months ago, hey, it's time to get this going? >> well, we have direct health measures that do require wearing masks in businesses where you have staff and patrons that are closer than six feet for 15 minutes. if you're going to be closer than six feet for 15 minutes or more so we've got that the in 0 dhm right now and the steps we've taken have really been based upon the information that we have at the time that we had it so, you know, we're taking those steps to be able to slow the spread of the virus here in our state and really trying to strike that balance to make sure

that we're preserving our hospital capacity. our hospitalizations are actually down today from that number that you gave at the outset earlier, and they have really kind of leveled out for the last week and so we're hopeful that that maybe is a plateau and we don't see them going back up, but, of course, we're urging people at thanksgiving to celebrate in small groups so we can slow the spread of the virus here. >> yeah, i know you're near that i think near that 25% threshold for hospital room usage for patients trying to stay below that and face the challenge now if thanksgiving does cause another leg up governor, thanks for joining us today and appreciate detail about your distribution plan as well. >> moy pleasure. thanks for having me on. happy thanksgiving. >> governor pete ricketts of nebraska happy thanksgiving to you as well. coming up, the goose getting a downgrade with shares down 7.5% and when you think squeaky clean you don't think bathrooms

but one company is hoping to change, that especially in the age of covid that story is next watch us live on the go the use the cnbc app we're back in a couple mut ines what if you could have the perspective to see more? at morgan stanley, a global collective of thought leaders offers investors a broader view. ♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley. before money, people tools, cattle, grain, even shells represented value. 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. that's why it's time for digital currency

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but before we sign i gotta ask... sure, anything. we searched you online and maybe you can explain this? i can't believe that garbage is still coming in. that is so false! frustrated with your online search results? call reputation defender today to join tens of thousands who've improved their online reputation. get your free reputation report card at reputationdefender.com or call 1-877-866-8555. welcome back markets are taking a pause today after the strong run they have been on all month. the dow is down 239 at the lows. it was up 12 points at the highs, and we're still down by about 158 right now. as you can see there, only a

couple seconds positive, consumer discretionary, tech, that tells you about the nasdaq leadership that we're seeing here the winner so far this month, energy, materials, those are your biggest laggards today and here are some of the individual movers this hour shares of embattled startup nikola are lower after the ceo failed to assure investors that gm won't pull out of its $2 billion deal on the company. that was on "mad money." either side can walk away if the deal isn't finalized by december 3rd. darden restaurants is lower on a downgrade to neutral from buy to btig they are citing valuation concerns and the covid impact on dining recovery and take a look at copper. can you add this to the all-time high list along with housing had and the market copper is actually at its highest level since 2014 just a huge run that the metal with the phd as they like to call it for its sensitivity to recoveries has been on lately.

again, a quarter percent gain but up more than 8% so far this month. pretty strong rally. let's get to the sue herera for our cnbc news update >> hi, kell em hello, everybody joe biden's transition advisers say today that the president-elect will get his first presidential national security daily briefing on monday and while they work something out if trump wants to speak with biden, they do not think a conversation between the two is, quote, mission critical. chinese president xi jinping is now the 15th world leader to publicly congratulate biden, but a state-run newspaper suggests chip may make some goodwill gestures to president trump such as inviting him to visit after he leaves office in a bid to fend off anti-china policies as his term is ending university of alabama football coach nick saban has mild symptoms after testing positive for covid-19. and the tributes are coming in for argentine soccer legend

diego maradona who has died of a heart attack at age 60 the country's president tweeted, quote, you took us to the top of the world. at spokesman for napoli, his former club, say we feel like a boxer who has been knocked out, and from brazil's pele, certainly one day we will kick a ball together in the sky above i'm sure many more tributes are coming back in, kell see you next hour. >> all right sue, thank you sue herera back at headquarters. well, one of the last places you want to be in a pandemic is a public bathroom not that it's ever high on your list, but one company has made it its business to reduce risk there jane wells joins us now with the details. jane >> reporter: hi, kelly, yeah you know, this year tsa is already saying we've got 4 million people coming through compared to a ten-day period over last year a lot of people are still traveling and airports are spending millions of dollars to make you feel safe, even in the path room.

at airports like dfw there's one less thing you have to touch. >> reporter: when you walk into a typical restroom you'll see a sign of stalls so instead of looking under or peeking through the cracks all passengers have to do is look up and see the green light. >> the airport is spending $1 million a year on its new smart rest rooms, that includes an overheight light system. green means a stall is available. latch the door and the light turns red. >> therefore, you don't have to go and jiggle doors or touch doors or anything like that to try to figure out is this stall available? show you still have to kind of touch the latch. over three years the system costs about $600 a door. dfw started the program before covid to improve efficiency, but now it's become a health and safety tool. >> all of our soap dispensers, our water dispensers, our paper towels are all touchless. >> there's also a strike force of over 100 employees to wipe down high-touch surfaces. >> and i think in the future you

may see sanitization robots. >> reporter: i first met the creator allen clebin six years ago as the product launched in hollywood but businesses have doubled to other airports like seattle and a new world of customers dealing with covid. >> the customers that we had never thought about that we had really seen are elementary schools and middle schools >> reporter: they have gotten really good at closing the lock with my elbow. the meantime, kelly, i'm told at dfw, the fourth busiest airport, foot traffic in november is about two-thirds what have it was a year ago and here at lax, the second busiest, they are also remodeling, but starting today if you fly in here from out of state you have to go online acknowledging l.a.'s 14-day karen team or pay a $500 fine back to you. >> wow although it's not like they are going to call to check up on

people, right? you've been traveling around a fair bit the last couple of months is it just kind of scout's honor in terms of with all these states and their different quarantine procedures and that sort of thing. >> well, that -- yes, for sure, unless you go to a had a on the big island where they will check up on you, but i have to say i've been on 20 airplanes in the past two months, haven't gotten covid. they really have done a great effort in airports and on airplanes with signage and filtration and people do pay a lot of attention you see a lot of under-the-nose business the only part i get comfortable is when there's too many people in the jetway. i've perfected the after the keeping myrolaway bag way behind me and standing more than six feet away. people tend to forgot the jetway, six feet. >> the that counts too trying to get somewhere. jane, thanks so much appreciate it. jane wells on the state at the

airports today. >> happy thanksgiving. >> happy thanksgiving. why the shift online has been a huge upside driver it actually cut into gap's profits. plus, amexusers are hoarding their points we'll tell you why and if it could impact the travel industry, and small caps are at all-time highs and some of the biggest gainers in the group are also hedge fund favorites. we've got the names when we're back in a couple of minutes. don't go anywhere.

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of. welcome back let's catch you up on a few stories that should be on your radar today. time for land fire and here to break down the headlines are dominic chu, kate rooney and robert frank welcome, everybody first up it's slack. "the wall street journal" reporting that seasforce is going to buy the messaging service. salesforce is down 4%, i believe it's potentially an all-stock deal and any deal would represent salesforce down member, its largest acquisition ever putting slack's valuation somewhere north of its current market cap of 17 billion, dorge and this is interesting because if you back up the issue is that slack has kind of missed the

beat here on this pandemic year. you know, they are not zoom. they don't have the videoer is have been so hot and now they have microsoft teams to contend with, and they are a minnow and it's a whale there's a lot at stake here >> reporter: there's a lot at stake and the reason why slack shares have perform the way that they have since the highs that they saw back in june, the pandemic highs from some of the work-from-home stocks. that has been in a downtrend ever since the june highs and the reason why is like you said. maybe they are not as capable of competing with the likes of say a microsoft teams and microsoft teams does have that video functionality for most of its products as well the issue is whether or not you can actually make that work for salesforce this. does seem intuitively like a good acquisition for them because it is does add to the suite of workplace productivity that salesforce has been known for and in addition to mulesoft and everything else, this could be a bolt-on acquisition that

could function well for salesforce as a product offering to its clients so that's the reason why you're seeing it. like you said, salesforce has been down on this, and it's been a good run so far. >> robert, what would you highlight? >> yeah. look, as a former m & a reporter for "the wall street journal" i would highlight the wording of this article which said has recently held talks, not currently holding talks or a deal could be as early as monday this seems to me sort of either the bankers for salesforce or slack saying it's for sale or we're exploring acquisitions, and i just wonder whether this is more of a trial balloon for either company to get a deal and had so much emanated in software that i don't know that there is that deal done per se because of the tentative wording that have article. >> i love that, and i love parsing it for the same kind of implications kate, ceo of slack stuart

butterfield has been somewhat reluctant to sell as robert is alluding to. perhaps that's a change in attitude. >> it could be, and like robert said it's probably a signal in some way that it could be for sale the takeaway for me is watch out, microsoft this is kind of a shot across the bowe by salesforce and could handle the teams google is another competitor in cloud and analysts are talking about more m & a in software and pressure on google to make a similar deal and as valuations in multiples have soared, you can see a lot of software m & n in 2021 if this story ends up being real. >> a lot more deal stories to parse through perhaps. again, slack shares are up 25%, and we'll see if this firms up in the next couple of days meantime, it's a rough day for gap after missing expectations for third-quarter earnings gap, we're talking about the apparel company beat on revenue and crushed same-store sales and that was thanks to the robust

growth in the digital business and that robust digital growth was actually gap's problem in order to keep up with the online sales search their operating expenses were up 8% and that's costing investors dearly today, the stock is down 19%, roughly at last check almost 20% you know, dom, this is one of the companies that we've talked about a lot as a turnaround candidate, potential benefactor from the pandemic allowing them to maybe raise prices a little bit, not be quite so discount focused and maybe kind of show some surprising strength coming out the other side of this i think that's why it stings so much today. >> that, an it wasn't so long ago, kelly, we were talking about this notion that they were exploring this idea of splitting off the old navy brand, focusing on some of the legacy brands that they have had what it's been for gap so far is the notion they have been able to turn around many of the businesses, maybe not fully, but you've seen strength in the flagship brand and athleta which is their athleisure, yoga wear

kind of things, but with what's happening right now with their cost structure, it's not at all surprising that they have having this kind of an issue because we do expect the expenses to go up. i'm not sure why wall street is punishing them as much as they are today, but let's not forgot that this has been a decent turnaround story in the near to medium term for this, so maybe it's just not as optimistic enough given what's happening with the outlook so far. >> yeah, and we know, listen, after best buy yesterday, they talked about how costs are a problem. shares down 6% on very strong results. gap today, costs again a problem, down 20%. this is going to be place to watch in the coming weeks and something to think about during the holiday sales boom canada goose also down today but for a different reason let's talk about that for a movement that's the luxury retailer makes the jackets with the red what, is it, anyway, you know, from the red circle patch. double downgrade from btig straight from a buy to a sell and the firm lowering its price

target because of an unseasonably warm winter and lockdowns and major fashion hubs in the u.s. and this quarter represents all of the company's earnings so it's pretty alarming shares are down on the downgrade about 7.5%, still up 175% from the two-week low i'm encouraged by the warm weather forecast, but if you get all your earnings in this quarter and you've got lockdowns, there's problems for the goose. >> really weather dependant and the google search trend data that people are searching for canada goose a little bit less, you're not thinking about the cold weather ski trip you might be taking. they also have had to deal with things like knockoffs and people, you know, having fake verges of the same coat. i think there's a lot of headwinds and the search trends are interesting. if people aren't googling that what does it mean for sales in the upcoming quarter so we'll see. >> yeah, and dom, it's also -- canada goose is one of the

beneficiaries from china exposure so as china has recovered faster than expected doing reasonably well we're seeing it porter results with so many other companies but not here. >> well, it's because of the weather in china, right, because they are having an unusually warm winter as well over in china so people aren't turning as much to canada goose. what i thought was funny about this particular story is you juxtapose that to the earlier interview we saw with l.l. bean's ceo on "squawk on the street" today where they said snowshoe sales are trending 340% more than they were the same time last year, so maybe it's not all weather. you would think that outerwear of this type, maybe it's specific area of weakness. people do want to get outside even when it's cold, even when it's snowing and even when it's winter because it's covid friendly so this is a tough one to kind of figure out for right now on canada goose as well. >> they had a great point. i -- i snowshoed once, it was a lot of fun, but there's not enough snow around here to make that viable. at least i don't think there is. let's talk about people hoarding

their credit card points because amex is in thing despite offering rewards on purchases like groceries customers just don't want to use them that way. people are stockpiling their points to use for post-pandemic travel miss reason, is it there a risk to letting them pile up like this >> there is a ridge of i was talking to a couple analysts that said if you hang on to those points for too long there is a risk that they could devashlg the hotels and airlines which are struggling could change the way that they do points the airplanes changed from points to dollars so it's not a sure thing your points will be worth the same amount and this is uniquely an amex story. the customer tends to be more affluent and doesn't need to spend points on amazon or holiday shopping hand might not be as crunched for cash and still willing to pay the $550 fee to keep the card and the takeaway is they do hope to see

travel rebound the cfo says if people have an insatiable need to travel, they will see a boom which is sort of talking to amex's book they would love to see travel recover. they saw the travel and entertainment spending following 70% in the third quarter so interesting story for sure >> robert, what would you say? >> yeah, i mean, i'm surprised how many people just use their points for travel. i use my points for everything but travel i use them to buy a lot of apple products, but i do think that people are just waiting to when they can travel to use these points and there are a lot of points that are building up, and i think once we start to see the vaccine roll out, i think people are going to start booking those summer and fall holidays very quickly. >> yeah, gives you something to look forward to it, and speaking of travel, blade is offering what they believe to be the first fully tested commercial flight for covid safety. before boarding, a nurse will administer rapid tests to

everybody whose blood oxygen levels and temperatures will be monitored from takeoff to touchdown. if it all seems impossible blade is retrofitting enormous commercial planes for a grand total of just 16 passengers. robert, how much does this cost can, and is this effectively just a jumbo private jet, or what do we mean by this? is this commercially available >> yeah. that's a great way of putting it jumbo private jet is the what it is it's new york and mime and new york to aspen so those are the big wealth corridors basically you go to a dedicated blade terminal so you're not having to go to a crowded airport like jane wells has had to talk about, and then you're tested and you're allowed into the lounge and allowed on to the flight so everyone next to you in this small private terminal has tested negative, same on the plane, cabin, crew, pilots, everything else, and then when you land you go to also a dedicated term until in aspen or miami and on to a blade suv which has been tested and sterilized toe end to end it's a

sterile fully tested environment, and, look, it sounds expensive 2,250 one way to miami and 3,750 to aspen, but a lot of people are putting their parents on these planes because it's a lot cheaper than flying price. one private jet to miami is like $20,000 so it's a lot less than that, but you know if you're putting your mom and dad on that plane from florida to new york or vice versa that they are going to be not fully safe but much safer than just flying commercial >> yeah, although, dom, i thought it was encouraging that jane said she's been on a plane 20 times the past month and hasn't gotten covid. >> here's the thing. i would love to see whether or not this works because it's a $4,500 round trip to miami it's not massive if you're a first class flyer, but i would love to see if this actually works. maybe they can scale it in a different price point for more people to go and do it i'm definitely curious here. >> yeah. dom, just to wrap it up, it's sold out for the next three

weeks to miami and sold out for aspen, so it's running through april. at least for the next month they are pretty well sold out already so there is demand >> well, thank you all that does it for rapid fire today, and i'm just going to say that badge on the canada goose jacket is an upside down north pole in case you were wonding. that's to my producer. we've got a news alert to get to on amazon. deirdre bosa is here with the details. what's going on? >> aws has been seeing a widespread outage for over an hour aws, of course, is amazon's massive cloud business that powers many companies' websites and operations at large. companies impacted include nyc transit, sirius xm radio, ring and adobe cloud. the list though, kelly, is long and growing. the long their this outage lasts. for some like roku which are affected, operations, they are still running are streaming but they maybe delayed an aws spokesperson says they

have been experiencing increased error rates in our u.s. east one region that has impacted some of its own aws services they are working towards a resolution and will certainly bring you to any developments. back to you. >> just to clarify you showed, for example, a transit customer there are we talking about this disrupting travel, or is this more of a backoff of this issue? >> it's up clear at the moment but it looks like more for these companies it's a back office issue so as the user or consumer you may not see it i'm not sure what the case is specifically for nyc transit but you can imagine heading into a holiday weekend this would not be good news these outages are not completely uncommon and quickly resolved but this has been going on for over an hour. >> getting worse like you said deirdre posa.

the dow may be getting all the attention hitting 30,000 but the small caps have had a historic rally of their own. a quick ok alot how investors can play that after this quick break. don't go anywhere. (upbeat music)

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welcome back it's been a great month month f small caps, the russell 2000 hitting an all-time high up 18% and a bunch of the outperformers are also hedge funds favorites here are some of the names courtesy of rbc. sun run was by far the most favored small cap, surging more than 380% this year, including a 746 rebound off the low, 760 almost cesar's entertainment is up more than 1,000% from its lows. finally, amicus therapeutics, it's up 265% off of its lows there's a total of 20 names on this list. you can see the rest of them along with analysis over at

cnbc.c cnbc.com/pro. still ahead, one mall owner doing to keep people out of his malls this holiday season. we'll explain straight ahead before we talk about tax-smart investing, what's new? -well, audrey's expecting... -twins! grandparents! we want to put money aside for them, so...change in plans. alright, let's see what we can adjust. ♪ we'd be closer to the twins. change in plans. okay. mom, are you painting again? you could sell these.

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welcome back as the holidays loom, people are still shopping in stores and malls, but in a different way this year. for more, i'm joined by nate forbes, managing partner of the forbes company good to see you again. are we talking about pickup? what's different >> there's a lot of things we're trying to introduce this holiday season one of them is collection to the car, where we're offering service from the retailers to your car where if that's comfortable for you, that's a service we'll provide. also from our stores to your doors, free delivery from any one of our shopping centers to within 60 miles of the shopping center we will deliver free of charge >> wait a minute so you're telling me that if i live -- your malls are in florida. so if i live within an hour's drive of your mall, i can pick anything i want from the store >> that's correct. >> who's paying that delivery charge >> there's no charge we are offering the service to our customers and our guests

we're in a very difficult time we are doing everything we can to make that purchase from our brick and mortar retail stores as seamless as possible and we want to provide as much service to our loyal customers and guests as we can >> right my point, nate, because we know there's no free lunch. is this something that you as the mall operator are kind of taking the cost for in order to help your stores that seems like a huge benefit i'm wondering about the uptick and the way foot traffic looks in general at the malls. and if you even want people to kind of come in person or if you would prefer they do it this way, even if it costs you -- we were just talking about this with the gap and other companies. these near-term costs to keep going. is it worth it for the long run? >> i think it is, kelly. we're trying to figure it out as we go. we're in a period of time and we're trying to offer a safe environment for the guests that attend the shopping center and want to visit the shopping center it's holiday tradition

it's the shopping selling season, which is very important for our brick and mortar retailers. we're trying to provide as much tradition as we can, but also a much higher level of service to our guests that they might not be used to in the ast. somerset collection, waterside, when they think of their shopping destination of choice and however they want to get those goods and services, we want to provide it to them in the best, most seamless way possible >> one final quick question, because you note retailers are requesting shorter hours because they can't find enough workers is that because workers are afraid of catching covid. >> everybody's been experimenting in terms of what works for service level, a number of hours, shift a, shift b. if shift a goes down, we go to shift b. we are on shorter hours, 7:00 to 11:00 but we will extends those

during the key shopping days, black friday, the week after and the week before christmas. it's going to be a very varied hour schedule and depending on what we hear back from our stores we've done a lot of that work up front to know what they're able to provide and what they're able not to provide >> yeah. that's fascinating really very curious do see how this all turns out people utilize it and you say collecting 85% of rent versus 50% in april moving forward. that does it for "the exchange." we're moments away from med minutes and andre iguodalail wl talk college moves, stock moves with tyler mathisen in a moment.

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