(music) anncr: give customers access to precisely what they want, when they need it the most. with adyen, the payments platform that delivers convenience for all. adyen. business. not boundaries. minutes from the latest fed meeting coming out right now on the same day we get a huge gdp number what is the real state of the economy right now? and the dow 30,000, we hardly knew ya. stocks taking a breather after a

record-breaking rally after we head into a long weekend while it has been a number to remember, the best month in 33 years, the recent leaders and laggards have been turned upside down chevron leading the way and apple up only 7% "power lunch" starts right now hi, everybody, i'm kelly evans. stocks are pulling back after this huge november rally let's go to dominic chu. >> a huge november rally that's put the dow at least in some catch-up territory as you can see in the 2020 over the last year plus, we've seen the dow industrials just up 6.5% in that span the s&p, meanwhile, is up 16%, nasdaq up 40%. that catch-up play in play right now. watching what's happening with the rotation element we've been talking so much about, as tyler mentioned, look at the way energy has played out just over

the course of the last month 38% month-to-date gains for the energy etf financials up 19%. industrials up 17% the value and economically sensitive sectors are the ones leading the way higher in the month of november. as you dig deeper within there, take a look at stocks we're focused on deere shares are off 2%. after a better than expected profits, better than expected revenues and is a rose wherer outlook for farm equipment in the coming year, all of that because, look, on a year-to-date basis, that stock is already up 47%. so, as we watch the way these stocks are playing out, kelly, tyler, the idea here is the leadership so far in this massive rally for stocks in the month of march has been on that. by the way, on industrials, what's leading the way higher? boeing, up 51% just this month. helmet, up 45% general electric, up 41%

i would note, folks, the top-performing stocks in the s&p 500 industrial sector all have one thing this common. they're aircraft or aero focused. that's something to watch in the recovery trade with covid. boeing, a huge gainer. the best performing stock in that sector overall so far in this particular month of november, guys back over to you >> although today, salesforce weighing on the dow after this news from the journal ask reuters that salesforce is potentially in the running to acquire slack. slack shares up, what, 25% now >> cnbc has confirmed some of the reporting we've seen from the wall street simprournl reuters. yes, there are talks that have happened, some engagement, perhaps o that front slack shares up 25%. salesforce up 3% now, the reason why this is a big deal is because what this could do is change the competitive landscape and

workplace production slack already does a good amount of that. salesforce we know does a good job of that. if you bolt those two together, hypothetically could you compete more with the likes of, say, a microsoft? take a look on a year-to-date basis. in this span, salesforce shares are up 55% even with the drop we've seen today if this were, perhaps, some kind of a stock deal where salesforce exchanged their shares for slack in that hypothetical world, it could be a notion salesforce has the war chest, the ammunition, has built up enough capital to be able to use its stock as a currency to make a bolt on acquisition. this would be the biggest one that salesforce has mailed mulesoft was a very big one for them as we talk a little more about the way that the software space is starting to line up, this is potentially a blockbuster change here in the way things are happening. we'll watch salesforce, we'll watch slack. i'll send things back over to you. >> dom, thank you very much, dom chu.

let's get out to rick santelli as we get those fed minutes. >> do remember, a lot has changed since november 4th and 5th. think about the underpinnings of fed programs and the treasury money behind them. also think about the notion interest rates have firmed up because most of the headlines i am now seeing, as steve liesman peruses the details, is there was lots of discussion about bond buying and changes, meaning quantitative easing. what would it take to buy more are we buying enough these are the types of questions that would only be under consideration if there's a general nervousness regarding interest rates maybe moving a little too aggressively to the upside we all know for the most part, we live in a managed rate society at this point. it's been that way in some form really since the credit crisis as you look at 2s, 10s, 30s on an intraday basis, you will see a slight deterioration on the longer dated treasuries, like 10s and 30s, which make sense because i doubt if the fed is

thinking about buying less in the form of quantitative easing and to take it one step farther, as the economy does better than any analysts or economists expected back in march, and i understand there's still a lot of pain out there, just look at atlanta gdp now chart. this chart starts at the very end of october we are now up over 11, our low water mark was the first day we are seeing a much more aggressive positive sign to today's data affecting fourth quarter gdp. tyler, it's all yours. >> rick, thank you very much let's go now to steve liesman for more details on those fed minutes, as you've had a couple of minutes to look at the minutes. steve? >> speed-reading through the minutes. tyler, the fed did discuss additional options for asset purchase it came to no conclusion i actually was expecting maybe a more definitive result from the meeting, but from what i could read there, glance, i guess is a better way to put it, they're not ready yet to make a change

to the asset purchases they say they can do a lot of things with it they can increase the term structure, do it over a longer term horizon they like what the bank of canada is doing. they didn't see any immediate need to adjust the level of asset purchases, now at 120 billion a month. there was some thinking that, hey, if interest rates were to rise and there was a lot of treasury issuance, the fed might need to do more. they said changing conditions could warrant a change to the asset purchase price again, no particular hurry, it sounded like i'll have to read more closely i don't think we can expect -- this is what i was looking for, an immediate change to the asset purchase price in december although the end of the facilities, the emergency facilities, the decision by secretary mnuchin could change that but i don't see a need in the market right now a couple things, they said there was downside risk from the surge of the virus that was expected. also they saw a downside risk from the lack of fiscal policy as well as what was happening in europe in terms of the virus

they did acknowledge just what rick was talking about, that the economy overall seems to have come back faster than expected whether or not that remains the case, tyler, as a result of the lack of fiscal policy and the surge of the virus, that's something the fed almost certainly has been saying it's warning against. >> some of those jobless claims numbers were also a bit of a surprise, weren't they, steve? >> yeah, they were the idea -- well, it's been something that i think has been expected by people who have been watching the high frequency numbers, tyler that data has continued to deteriorate. you can also by a matter of logic come to the conclusion, given what's happening with the virus around the country they are deteriorating consumer spending has held up relatively well. i think that's good business investments. been okay. you saw consumer sentiment also not doing that great along with, as you say, the jobless claims

numbers. they're going to get worse, tyler, because what'sing going to happen, a lot of people will roll off they'll lose their benefits right after christmas. >> absolutely. steve, thank you. stick around as we continue the conversation and get more reaction to the fed minutes and the impact on the markets and the economy. brin talkington is manager with requisite capital manager and seth carpenter with ubps brin, what is the market saying to you >> obviously, november has been an incredible month where you see energy had the best month ever the russell 2000 had the best month ever and i think to steve's point on the fed notes, we all have to remember these notes are from november 4th and 5th i think the fed continues to say what we all know we're in the middle of a pandemic we need more fiscal stimulus, but the market has climbed this massive wall of worry to all the naysayers who were so bullish earlier in the year, i

think this year has been a spectacular recovery in the market that's been able to look through all of the uncertainty and it definitely seems we have much clearer skies in 2021 than we'll have in 2020. >> seth, do you agree with that? is that what the market is telling you, that get ready for a very nice 2021 >> i mean, i think there's a lot of reason to agree with that we've been writing a lot about how the news coming out from the various vaccines has changed our outlook and really upgrading things everyone knew, i think, that there would be a vaccine next year, but the news that came through from pfizer and then moderna of 95% efficacy is a bit of a game-changer. we think that means next year's growth is at least a percentage point higher than it would have been if you had to wait another half year for things to settle down with the virus. in that sense, absolutely. but i also agree with steve's point. everyone in the market was looking at the fed with their asset purchase program asking, what are they going to do? are they going to make a change in december?

and there really wasn't that much in the way of guidance there. >> how critical, bryn, is the idea of a fiscal stimulus and when, if ever, do you think we will get one and of what size? >> i think it's definitely critical it's critical for the economy that you still have unemployment way too high and you still have, you know, especially as steve pointed out, at the end of the year, a lot of these benefits are going to drop off. we need fiscal stimulus. it seems like we're not going to get it until possibly after the inauguration the market has looked through it so far but i think to all the individuals out there who are going to lose their benefits, there does need to be a stopgap as the economy, you know, recovers but these are individuals that do need that bridge. it's not their fault we're in this pandemic. we need to make sure the economy as a whole stays together so we can all recover. >> steve, that you can to me about that a little more, the loss of benefits, the need for fiscal stimulus, and also the idea of what really is the

market -- stock market, that is, what is it really measuring? and are we in a world where, after we go through this next three months where in many cities, restaurants are going to be completely shut except for carryout or pick up food, and there's going to be more job loss there's going to be a lot of retailers, i would think, are going to shut down after christmas. whether these are big chains, i doubt it, but a lot of the smaller ones are just going to go what is the market measuring >> i was listening to the conversation and i couldn't help but think about seinfeld we had a virus, yadda, yadda, yadda, we had a vaccine. that's kind of the way the market thinks about this there is no in-between there the amount of pain that's going to be suffered over the next couple months in the absence of fiscal policy, i think it's sort of unspeakable you see pictures of people lining up at food banks trying

to get thanksgiving dinner you have this idea that millions are going to lose -- what i am learning and puzzling over, and i think this is a time forsett and i have to have one of our long conversations about the underlinings -- underpinnings of the economy, i have been amazed at the ability of the stock market and wall street to prosper given the pain on main street and i have been wrong about the potential effect it would have on the stock market. but the ability of the market to go, yadda, yadda, yadda, we're going to have a vaccine, everything is fine and the ability of the market to focus and look at what the earnings prospects are down the road, i am not saying the market is wrong here because that's just sort of the fast road to poverty here, is to be betting against what's been happening in the market here, but if you had told me they were going to have the number of unemployed, the number of small businesses go out of business, and that companies were going to be able to prosper the way they have been prospering, i would have said you're crazy.

>> best buy, it really does stretch one's credibility. seth, why don't you jump in here that's the genius of seinfeld. seinfeld speaks to everything, one way or another why don't you address steve there, seth. >> that's fair i think steve is nailing it in lots of ways i think a couple of points are clear. yes, the next couple of months are going to be rocky. i think the risk of outright contraction in the first quarter is very, very real as benefits expire, as the virus cases go up i think the disconnect is just how skewed the u.s. economy is if you think about what the s&p 500 represents, for example, it's not the entire economy. we know that this shocked the economy, did not hit the economy uniformly. chair powell consistently says the worst of the burden was borne by those least able to bear it. what we're seeing are some companies that have access to, say, capital markets, those that

are discount their future earnings by the very low interest rates, their stock valuations are going up a lot but it doesn't reflect the small mom and pop stores on the street it doesn't reflect a lot of the service sector this that's very much where the hurt in the economy is. >> thank you for your comments bryn, same to you. steve, and to all a happy thanksgiving kelly? >> tyler, thank you. in this record-breaking topsy-turvy november, financials are outperforming tech can the banks continue to roll, especially as interest rates stay low we'll debate that. as for tech, the million dollar heavyweights are underperforming. is it just a brief pause for these favorites? should you bet on tech to take the lead again and these names in particular? it's all ahead on "power lunch." >> announcer: this cnbc program is sponsored by pimco. ♪ you make my heart sing ♪

♪ wild thing i... think i... you know what i think? i think you owe us $48.50... wild thing. if you ride, you get it. geico motorcycle. fifteen minutes could save you fifteen percent or more.

welcome back to "power lunch. the latest great rotation on hold today the rotation away from tech and growth stocks, we mean, that's led the market most of the year, but into value stocks has been the trade of late. the dow and s&p are trailing, trailing the nasdaq which has been positive. that hasn't been the norm. since hitting 52-week highs on september 2nd, several mega techs are down apple is down 13%. amazon is down 9%. microsoft is down 6% from then jason weir, a partner and chief investment officer at albion

financial group. he joins us now. jason, i'm sorry, we'll be back in just a couple of minutes. here o"perun."n ow lch this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. lexus has been celebrating driveway moments. here's to one more, the lexus december to remember sales event. lease the 2021 is 300 for $339 a month for 36 months and we'll make your first month's payment. experience amazing at your lexus dealer. 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.

iwhat is this?s we call that a window. window. dun-dun-daaa! the first big screen. we really need to limit thunk's window time. not now. the birds are on. in my day we fought them. let me live my life!

hi, everybody. welcome back to "power lunch." i'm kelly evans. let's do some trading nation the fed discussing additional asset purchases at its last meeting as they settle into lower for longer interest rates. you can see the ten-year yield zipping after that cross financials are up big in november the second biggest gainer month-to-date despite being the second biggest loser so far this year what does the fed's stand mean into the end of the year in 2021 craig, i'll start with you financials, a buy or a sell for you? >> well, the financials are having their best monthly return since april of 2009. when you look back post that period, four out of five months post that big return in april of 2009 they had positive returns for the xlf. when i look at the specific chart of the xlf, i have to make the observation we're in this

bullish try appearingle, breaking out and setting ourselves up for potentially another leg higher if we could start to see this index move above this $29 level so, i'm watching that, kelly i'm also watching interest rates. ten-year bond yields moving above 95 basis points, holding a bit further power behind this move for me at this point in time, i'm going to watch if and i'm waiting for that 95-basis point move, then i would be more bullish and have a much stronger opinion on the financial sector right now. >> so the xlf over 25 confirmed, ten-year over 95 gina, what about you, what are you looking at for the financials do you like them here or would you hold off >> i think the financials are interesting here despite the fact they're just cheap, you also have to look at the fact that their margins on got hit dramatically during covid. but if you have an outlook that is more constructive at the end of the pandemic coming, if you look at what happened to financials after 2008, it took them about 24 months to get back

into really great profitability. so, we can see a path out of here and although the lower for longer is not necessarily helpful to financials, it has mitigated the credit risk that they would have otherwise taken during the pandemic. and so it actually makes it more likely that they become even more profitable afterwards so, i think that things are setting up quite good for financials from here >> do you also need the ten-year over 95 basis snoints. >> yes, you actually need to get the yield curve to get a bit steeper but the yield curve has been steepening. the yield curve is starting to reflect the end of the -- of the pandemic so that also sets up quite well. remember, it's not the absolute number of where you are in interest rates it's the difference between the short end and the long end that's where banks make their money. >> right that's why the bulls are hoping that maybe they don't need that 95 -- maybe they can find some way to win regardless. maybe we've seen that a little bit this month

appreciate it. for more trading nation, head to the website or follow along on twitter @tradingnation. lets get back to tech stocks which have been trailing the markets. jason weir from albion financial group. is your advice to investors to stick with these numbers especially -- let's use faang as a shorthand but the mega cap >> yes, that's generally our advice the stocks have lang wired a bit over not just the last few weeks but last month there's been a healthy consolidation pattern that's developed, but if you move away from what the stock prices are doing. again, letting them catch up to fundamentals isn't necessarily a bad thing. when we look at businesses we own for the clients, that's how we view these, whether it's apple with their iphone 12 cycle and wearables and services category growing at high rates or microsoft and enterprise cloud and productivity, whether it's amazon and cloud and e-commerce, visa and -- that's

not really in faang but one we've owned for a long time that we consider tech, google enjoying secular growth tailwinds we think will endure over the next several years. i think it still makes sense to have exposure there for clients. >> yeah, it's interesting, though we pointed this out before the break. some of the biggest names are down significantly in some cases double digits since september 2nd even as the broader market has climbed even the best business can -- you can pay a bad price for. when people say to you, look at the multiple on apple and the fact it's been near all-time highs, what if it just goes back to normal? is there a better opportunity to buy these names at >> yeah, so apple, 15% to 16% off its highs, for example, is a good entry point if you have a long-term view what the stock is going to do over the next three months or six months, i haven't a clue what i do know is the business, apple's business continues to grow and per share fundamentals

continue to grow we don't see anything stopping that over the next several years. there will be volatility in the stock. if you look over the last ten years of owning apple, it hasn't been an easy ride. what we've seen is pullbacks and corrections and dips in these winning technology names have always been a good bet at some point that may not be the case we look to the underlying business and changes in the underlying fundamental thesis to tell us when that day is going to come. we don't think we're there yet we have amazon, 10% off its highs. we continue to like that business and think this is probably a good entry point for long-term investors. apple's pe on a forward basis is around 25, 26 times earning. if that reverted to the mean, there's a little downside there. we also think the higher pe multiples probably warranted given the growth in their higher margin services business >> like you said, there are names outside of the tech giants you look at visa, wisdom tree, some names that come up.

why those in particular? >> so, the wisdom tree cloud etf gives you nice diversification to the work from home theme to cyber security to remote work and cloud. we like the diversification in more the midcap space for that theme. areas outside of that, visa, electronic payments, they're in a do yuoply with mastercard. the multiyear growth visa is enjoying on globally is unlikely to be changed any time soon. we're spending more of our dollars online and with our credit cards than ever before. believe it or not, we're probably in the fifth or sixth inning globally in that transition away from cash and checks and over to electronic forms of payment those are the kind of companies we want to own for our clients and have reasonable valuations on their growth and also have high returns on capital and wide economic modes of protecting those businesses there are a lot of areas not only in faang but outside of faang, you can still find those opportunities if you have a

longer view. >> jason, thanks for your time today. jason from albion. ahead on "power lunch," thanksgiving could look a lot different. in fact t already does covid cases continue to climb. local governments are encouraging families to hold smaller gatherings, to stay home the president of boston market will share his thoughts next plus our power player, professional basketball player and venture capitalist andre iguodala >> announcer: and now the latest from tradingnation.krncnbc.com d a word from our sponsor. >> some traders use buy-stop limit orders placed above resistance levels. unlike regular buy-stop limits, it is trigger. if a stock closes below the stop price one day and opens far

above the limit price the next, a trader will not buy the stock. schwab is the better place for traders. before money, people traded goods. 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 and your investment in the grayscale funds.

go digital. go grayscale. 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. ♪ you can go your own way

it's time you make the rules. so join the 2 million people who have switched to xfinity mobile. you can choose from the latest phones or bring your own device and choose the amount of data that's right for you to save even more. and you'll get 5g at no extra cost. all on the most reliable network. so choose a data option that's right for you. get 5g included and save up to $400 dollars a year on the network rated #1 in customer satisfaction. it's your wireless. your rules. only with xfinity mobile. welcome back, everybody. i'm sue herera here's your cnbc news update

the match-up between the baltimore ravens and the pittsburgh steelers is being postponed until sunday after several ravens players were sidelined by covid-19. football fans will still have two earlier games to watch, however, on thanksgiving the nba's all-star game will not take place in indianapolis this february. instead, the city will host the 2024 event the nba says plans for next year will be announced a bit later. the number of confirmed covid-19 cases worldwide has gone above 60 million. it took just 17 days for the last 10 million infections the recent rise in cases across the u.s. has cemented its position as the nation with the most cases and the most deaths and in brazil, at least 40 people have died after a bus and truck collided the injury count is unclear as rescuers continue to search through the wreckage you are up to date that's the news update ty, back to you. let's take a look at where

the markets stand right now. it is a bit of a down day for the dow. who can blame the dow after surmounting 30,000 yesterday let's see. there it is. down 190 about two-thirds of a percent. s&p off a quarter of a percent nasdaq bucking the trend, it is higher today by 49 therussell taking a breather a well at 1846 it's been a great month for the russell 2000 salesforce dragging on the dow on reports that it has been in talks to buy slack. there you see slack -- no slack in slack today it's up 29%. the oil market closing for the day and dominic chu is at the commodity desk. >> u.s. benchmark west text enter media or wti futures, $45.52 brent, $45.55. all gains have been powered by rising optimism over a covid vaccine. today we're getting inventory

data, helping to push those prices higher. u.s. energy department reporting 750,000 barrel drop in inventory. we also got the baker hughes weekly oil and gas rig counts. they normally come out on friday and for the holiday we got them today. u.s. active oil rigs increased by 10 to 320 we'll see you on friday without baker hughes oil and rig counts. happy thanksgiving back over to you >> i was going to say, you're not going to see us on friday. enjoy that early close u.s. covid-19 cases continue to rise ahead of the thanksgiving holiday let's take a look at some of these stats we have now. the national seven hoof day average of daily new cases stands at 174,225. total cases cumulatively, above 2 million. covid lines before the holiday growing longer wait times exceeding six hours for testing yesterday. the cdc reportedly finalizing a

recommendation to shorten quarantine teams between seven to ten days. part of the logic is officials hope a shorter time will encourage people to follow through with the quarantine. pfizer is aiming to ship 6 million doses of its vaccine across the u.s for its first distribution expected in mid-december, we spoke to nebraska's governor about it last hour it's good news for many but some doctors say the cdc should warn people about the side effects of the vaccine. it's not exactly a walk in the park. >> a lot of people have complained -- or those in the test complained they were experiencing flu-like symptoms as a result of the vaccination i saw one doctor say, you're going to know you had a vaccination. while this holiday will undoubtedly look different for many americans, one restaurant chain is seeing record sales numbers as smaller thanksgiving gatherings are pushing people to order in joining me to discuss this unique thanksgiving is randi miller, the president of boston market good to have you with us we've had folks from your company on on prior

thanksgiving why do i not remember -- or through you guys i just can't - >> i don't know. >> i'm not getting the message. >> we need your business. >> take us back through the year how has business been and how have you adapted to the pandemic then we'll get to thanksgiving >> sounds good well, we really, along with many in the restaurant industry suffered significant deterioration in our business in march and april. we were down anywhere from 40% to 55% during the middle of march to the middle of april we started to come out of that in may and over the summer months we really saw our business pick back up. and i think part of the reason that we were able to grow our -- grow above where we were is because we adapted more, really leaned into delivery to home and that really has increased this year versus prior year i think last year we were probably doing about 11% of our business through third-party

delivery partners. and this year that's grown up. it's nearly tripled this year as a percentage of our business >> those third-party delivery, uber eats, doordash, et cetera, et cetera. >> yes we're agnostic when it comes to them. >> it's really amazing i think 2020 is going to be remembered for a lot of things but one of the things businesswise is going to be how amazingly quickly companies like yours and others just turned their formula inside out speed. >> you're right. but i will tell you, it was not easy we have learned from many so we've seen other brands that have done a phenomenal job of traditioning and i feel like our people really adapted well. it hasn't been easy to distance physically, to wear a mask when you're working in front of a hot rotisserie oven or convection oven, and really it's all because of the hard work of our teams and the restaurants we've

been able to succeed and stabilize the business from where we were back in april. >> let's talk thanksgiving how big a day or week is thanksgiving for you under typical is circumstances and what are you looking at this year growth over last year or what? >> i'm optimistic we're actually going to exceed last year in sales. when we look at thanksgiving week, it's combined of a variety of things, right so there's our in-restaurant dining where guests come to us tomorrow we're actually opening every restaurant serving guests. it's remarkable to see the number of guests that use us on that day the other are catering and heat and serve banquet meals. this year we're seeing exactly the same thing we saw at easter. we have grown our banquet meals by three-fold. so, at easter we were positive about 158%, 160% over prior

year we have seen the banquet meals for four to six people grow exponentially. that piece of our business, as i looked at it earlier this morning, is up about 172% versus prior years. so, it's really been remarkable. we haven't seen a decline in our banquet meals for 12 that actually is positive also where we've seen the decline has been in our catering business, which is a significant piece of our business, but those declines have really been offset by what we're seeing in our heat and serve banquet meals. and it's interesting to see the numbers in the four to six leap like they have because i think it means that americans are heeding the advice of cdc in the states by restricting the amount of people they have at their gatherings >> randy, it's kelly here. i don't have a question. i actually have a comment. i want to say thank you, i think, because last year i had a two-week-old so we did a boston market thanksgiving. thanksgiving was only possible because of of you guys

>> thank you, kelly. >> my mother-in-law, my sister-in-law but there's a caveat because my husband wants boston market again, so he's disappointed i'm cooking. >> so you've married a smart gentleman, it sounds like. thank you to your husband. >> tyler, back to you. >> he's disappointed you're cooking. i love it. what can i still get at boston market can i still order dinner -- if i were to call tonight, this afternoon to my local outlet in clifton, new jersey, could i get one? >> yes, you can. i'm sure we can get you that meal in clifton, new jersey. we do have parts of the country where we are maxing out. we're getting to capacity. that's really based on just extraordinary numbers we've seen yes, you should be able to get your order fulfilled in cliff con. if you want, have your producer stay on with me and i'll get you hooked up. >> thank you much, randy we appreciate it have a happy thanksgiving.

>> thank you tyler, you and kelly, happy thanksgiving. >> thank you very much kelly, some people will find this hard to believe, but one of the things i love with thanksgiving turkey, it came from my mother, is sauerkraut. i bet i'm the only person ordering sauerkraut. >> i have some in my fridge left over from the summer so if the planned side dish doesn't go well, i'm going to break that out. >> it's sour and good with all that starchy stuff it's -- my mother used to do it. >> bring it on we'll be back at boston market if my plans don't work out. up next, nikola motors losing some charges. failing to reinsure investors gm won't pull out othdef e al this is decision tech.

find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

this was the theater i came to quite often. the support we've had over the last few months has been amazing. it's not just a work environment. everyone here is family. if you are ready to open your heart and your home, check us out. we thought for sure that we were done. and this town said: not today. ♪ we're committed to making acollege more accessibley,day. by making it more affordable, that's why we're keeping our tuition the same through the year 2021. - i knew snhu was the place for me when i saw how affordable it was. i ran to my husband with my computer

and i said, "look, we can do this." - [narrator] take advantage of some of the lowest online tuition rates in the nation. find your degree at snhu.edu. welcome back a tale of two retail stocks top power movers gap down big after missing on earnings, though online sales did jump 61% in the quarter. bottom line hurt by increasing shipping costs there nordstrom soaring after posting a surprise profit, even though sales did miss estimates the stock has doubled in

november still down 30% this year we end with nikola, down big today on "mad money" with jim cramer, the company ceo failed to reassure investors that the deal with gm would close >> good thing i wasn't picking my nose. there was one ev maker seeing its stock get a jolt today take a look at shares of fisker, up 25% they're calling it a high-risk bet on the car of the future you can read more about this call and analysis at cnbc.com/pro still ahead, our power player today, andreiguodala joins us to talk tech investing, why he recently sold his position in the stay-at-home winner zoom and we'll talk a little basketball, too stay with us on "power lunch."

students of color typically do not have access 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 at a pace that i want to change it. ♪ we provide students stem scholarships and teachers with support. ♪ i'm a fighter and i'm fighting for all students. ♪

labradoodles, cronuts, skorts. (it's a skirt... and shorts) the world loves a hybrid. so do businesses. so, today they're going hybrid with ibm. a hybrid cloud approach lets them use watson ai to modernize without rebuilding, and bring all their partners and customers together in one place. that's why businesses from retail to banking are going with a smarter hybrid cloud using the tools, platform and expertise of ibm.

as coronavirus cases rise around the country, many families preparing to share thanksgiving over zoom shares of zoom video are up 450% this year with so many working from working at home and using the service for social events with a positive vaccine news, could there be a reversal in that stay-at-home trade? let's ask andre iguodala, a zoom investor and is still holding that position. andre, it's great to have you back we always enjoy talking to you zoom is up 528% so far this year there's obviously the reasons why. why do you hold it here? are you tempted to take profits? if not, why not? >> every major capitalist looks to when to take profits.

with zoom you see such a -- what went on in the pandemic and everyone having to get on to the platform, and then they've adopted the platform when you become a verb, that's when you know you've shown a lot of strength. with video communications, everyone is going to zoom. you see with the ceo has done and what he has been able to add on to the platform with the marketplace. the marketplace, you see people start to build actual businesses through zoom i just had a workout this morning with a trainer, and she has been actually training her clients through zoom, having different capabilities of having two cameras, able to see her clients, why they're staying at home this is something you started to see that they'll adopt. >> my yoga teacher does zoom classes. i do zoom with her and other things it's really very helpful i wonder at what point you get

involved in the companies that you become an investor in. obviously you have a tilt toward tech, jumio, considered the amazon of africa, data dog do you get involved before they go public typically and hope they will go public or do you get in after i would assume the former. >> for me, typically, i get in before they go public. >> right. >> it's just something that i've been able to get into throughout the past couple of years my time spent with the golden state warriors, silicon valley, getting access starting to get a lot of companies that are up approximate and coming started getting in earlier seeing how i can help these companies grow in scale, which is part of my job at the catalyst fund as well. looking for underrepresented groups in latin-x and female

funded using my network for companies that have had success and showing them this is the path to profitability. this is the path to scale. and just using my expertise to help these companies on their journeys. >> we'll take a quick break, andre, with your permission. we'll have a lot more with you on the upcoming nba season, future of collegiate sports, the pandemic you can always watch or listen p. us live on the go, on the ap we'll be right back with more from andre iguodala. hey, dad! hey, son! no dad, it's a video call. you got to move the phone in front of you like... like it's a mirror, dad. you know? alright, okay. how's that? is that how you hold a mirror? [ding] power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools and interactive charts to give you an edge, 24/7 support when you need it the most plus $0 commissions for online u.s. listed stocks. don't get mad. get e*trade

and start trading today. lexus has been celebrating driveway moments. here's to one more, the lexus december to remember sales event. get 0% financing on all new 2020 and 2021 lexus models. experience amazing at your lexus dealer. get 0% financing on all new 2020 and 2021 lexus models. this is the new iphone 12 pro with 5g! and it's on at&t, the fastest nationwide 5g network. now, new and existing customers can get our best deal. really?! mom! at&t has the deal for new and existing customers!

i will. so what'd she say? wrong person. it's a guy named carl. but he's very excited and on his way. word-of-mouth advertising. it's what they did before commercials. it's not complicated. everyone gets our best deal, like the amazing iphone 12 mini on us. our vision is to be the best sports and outdoors retailer in the country with a mission to provide fun for all through strong assortments, value, & experience over the years, we've given customers not just great products, but outstanding experiences. we can't wait to have customers nationwide have fun out there.

welcome back the nba season is less than a month way, even though it feels like the last one just ended despite some cancellations due to covid, college basket wall is trying to get under way this afternoon. with the miami heat, andre iguodala i feel so bad about klay thompson and the warriors. there's so much we could discuss. everyone here is interested in what the nba is going to do. there's no bubble this time around there's barely been any rest what are your thoughts about that >> well, if you look at, you know, there were 22 teams that entered the bubble so you have eight teams that have been out for a good, extended period of time, since march. those guys are ready to get back out there and look at the guys in the draft, looking to get after it as well

their last season was cut short as well. a good amount of the teams that went to the playoffs, you know, they've had a good amount of time you look at the four teams who entered the conference finals, miami heat, boston celtics, los angeles lakers and the denver nuggets. those are the teams that might be behind the eight ball a little bit have to be really strategic with how they bring those guys back it will be really tough. what we learned a lot with the data we were able to gather in the bubble, competing against every sport. you know, you've seen a downslide for viewership from every sport, not just basketball, but in all the sports even the masters, you know, with football sunday. even though they moved the schedule time up to get their ground started earlier want to take advantage of, you know, their december slot and, you know, negotiations and time slots, for the cable providers as well and the deals you have with the tv providers. so a lot went into it. it's going to be tough on a set

amount of players. and just want to be smart and make sure those players are strategic in how to come back, because we don't want those injuries to happen from not enough rest. >> yeah. and you're clear about the financial incentive there. a lot of people's livelihoods depend on that tv money flowing in what about college when these are, quote, unquote, student athletes does it feel less fair to you that they're playing kind of the same question with football, or does it make sense because, you know, they're not being coerced? i'm just curious if you think that's a different dynamic. >> i definitely think it's a different dynamic. it's a re interesting one as well when you start to look at what really matters in the grand scheme, and that's the bottom line, you know there's profits that need to be had. you look at each university. look at football and basketball being the revenue drivers for all these universities and they drive the other sports as well they bring a lot of money into

these universities that are -- you know, some universities may not have the big endowments that harvard or some of your ivy leagues have you're starting to see it's becoming more clear that these athletes should have a stake or should have some type of plan in place where they're properly taken care of, or properly, you know, paid there's so many different ways you can look at it from athletes, get your degree and you'll be able to get your stake, your position in what you brought in terms of revenue to the university there has to be a way. and i think that should be looked at, if it hasn't already started. >> we've got about 45 seconds, andre. i want to stipulate here, there has not been an nba finals in how many years without andre iguodala on one of the teams, is it five years in a row or six? >> i lost count. >> it's been so many, you lost count. but there have not been finals without you there.

you're the vice president of the players association. very quickly, why has the nba been able to have labor peace relatively speaking? >> well, i think athletes are starting to understand the position that we play in, and we're starting to strengthen our position when you look at it, cable cutting has occurred, disrupted the tv, cable companies. what you see people are sticking around for that sports package and i think that lets the players know, listen, we have a large, high value that we bring to the table starting to realize that the money has been really good for us i think moving forward, we're starting to understand that there's more to it that we can start negotiating. >> andre, great to see you the book "the sixth man" i recommend it highly. it was a terrific read thanks for being with us today kelly? >> happy thanksgiving, everybody. "closing bell" starts right now.