>> farmer jim what, have you got? >> steve is right about qualcomm. this is just like when amazon started selling prescription drugs a month ago and cvs went down and gained it back a month later. so will qualcomm. this is your opportunity. >> lastly, the man they named an etf for. >> netflix. scott, i agree with carrie. about to break out and continuing to raise prices and consumers paying for it. >> thanks, everybody. "the exchange" is now. ♪ thank you, v-day in america. the pfizer vaccine begins to roll out at hospitals across the country. we speak to walgreens about how and when the broader public will be getting it and investors pushing the dow above its record close earlier today. we're struggling to hang on to that positive territory right now, and the stimulus talks are back. we have the skin on what's in the bill and whether to bet on

its passage. and crude's incredible comeback and gold's glitter fades. we'll ask goldman sachs' jeff curry what he thinks of these moves. let's start with seema mode he and the latest on the markets this afternoon. >> reporter: historic day for the market. we're watching the national rollout of the advantages even. the dow did hit a record high earlier in today's trade and then stocks started to pear gains after mayor de blasio mentioned a potential lockdown coming here to new york city and the dow basically flat on the day or up 33 points. the nasdaq is the outperformer here. you can see up almost 1%, but sticking with the dow. mcdonald's contributing about 30 points to the dow after ubs upgraded the stock and analysts there are bushel on the company's breakfast offering and digital shares up 2% to 4 pedestrian and amgen and visa trading in positive territory. two ipos from last week, airbnb and doordash selling off in today's trouble.

airbnb getting hit by a double downgrade with analysts saying its shares are too high and, kelly, now back to you. >> it is an historic day as seema said as our massive covid-19 vaccination campaign gets under way in this country. with the first shot given in new york this morning and similar pictures to be coming in from across the country, meg tirrell has been following the rollout fours, and show spoke with pfizer's ceo this morning about it and the next steps from here. she joins me now with the very latest. hi, meg? >> kelly, just got an update from operation warp speed on how all of of this is going across the country. the distribution has gone incredibly well with pfizer overall.

the first boxes of vaccines were packed up and started to get shipped out from pfizer's plant in kalamazoo, michigan h.yunderstand now from general perna say 50,000 vaccines have been packed. the general is saying the vaccines should arrive in every location by 2:00 p.m. local time. tomorrow we're expecting 425 locations to get their vaccines, 66 on wednesday and an additional 581 from thursday and beyond for a total of 2.9 million doses from pfizer and biontech going out this week. the general was asked on this briefing what could go wrong with all of the deliveries here, and he was very candid. he note there had could be address mix-ups, that their technology is delicate and needs to be formatted perfectly. he said on the end of the

spectrum scary things like transportation accidents could happen and the weather that's happening, incoming storms across the country. kelly, as you mentioned, we talked with pfizer's ceo this morning about one of the major topics being supply and could they increase more than 1.3 billion dozes that they have planned for next year, and here's what he told us about that. >> we are trying to see if we can get other people and if we can have them order equipment. all of that, this is the basis of what i said before. we have promised the world 1.3 billion dose and we are hoping and trying hard to make much more than that, and that based on increasing our own departments to try to do it, but right now we're not aware of anyone who can do it. >> kelly, pfizer is the first on the market here in the u.s. but it's not expected to be alone for long. if moderna gets granted emergency use authorization

later this week which is possible it's expected 6 million dose disease of moderna's shot will go out next week in the u.s. to 3,285 locations. kelly, we've off to the races. >> meg, i was just wondering why was the first vaccine given in new york if it was being shipped from michigan? that's a long ways for it to travel. >> that's a really good question. we didn't get a whole lot of details about the plan for rolling out this vaccine or if there would be sort of a grandma margaret or welliam shakespeare, remember the first two people in the,k who got their shots. we didn't know when new york was administering their shot, that was the first one happening in the united states, so not a whole lot of clarity about why the one in new york was before in the midwest or anywhere else. >> just curious, and it was so poignant. william shakespeare getting his vaccine the other day in the uk. meg, thanks so much. we'll check back in soon. our meg tirrell with the late for us. >> in the first wave pfizer is shipping nearly 3 million doses

of covid-19 vaccine across the country. the vaccine is the fastest ever to be developed and walgreens has been moving just as quickly to prepare for this historic day. joining us now is wall green's group vice president of pharmacy operations and services. it's great to have you here. what happens at walgreens today? >> thank you so much for having me. really appreciate the opportunity. we have been similar to how it's been for the last couple of months. we have been actively preparing for this moment for when vaccine is available, so we have all of our teams ready to go so that when vaccine does come to our locations we can go ahead to kt at rate is our plan to support the health care workers and the activating the long-term care facility plans next week as they move forward. >> so just to be clear, when i think of wall green, i think of the general public, and it's my understanding that we aren't going to have access to this for months. are you guys playing a role in the rollout to frontline workers? >> so what we're doing right now, and you said it really well

in the fact that vaccine is limited as we speak right now. so the states and the federal government are working hand in hand to ensure that the allocated vaccine that is available, it goes to those recommended eligible individuals, health care workers, firstline workers and what we've done over the last couple of months and what we're doing is working with states and health care institutions to offer our support and to help immunize both health care workers, but shortly thereafter next week we'll be activating the long-term facility care plan which has been in partner with operation warp speed as well as the cdc so we can immunize the residents at the long-term care facilities as well as staff. >> okay. so that was going to answer my next question which is especially for a vaccine like this that has to be kept at super cold temperatures and has to be used within a few days once it's thawed, so to speak. why would you guys get some if you're not going to be giving it out for a couple of months, but

you're saying walgreens will play a role in vaccinating people at nursing homes and that sort of thing? >> you're 100% right. we've identified locations across the country so we can have cold freezers and dry ice capabilities to store the vaccine, and what we'll able to do is take the vaccine and go to the long-term care facilities, skilled nursing facilities as well as assisted living facilities to help immunize those patients that we know are at highest risk r.our pharmacist, we have pharmacists across the country. we've been immunizing patients for over a decade and we have a lot of experience of being able to take vaccine to go on to these facilities and help immunize those patients that need it the most. >> and at what point, what date, what time frame do you expect that people will be walking into walgreens locations from the general public to be receiving this vaccine? >> that's a great question. that's a hot topic across the board as we spoke about earlier, and i guess even as pfizer ceo

mentioned we're continuing to build up vaccine inventory between pfizer and moderna and other manufacturers as more and more vaccine becomes available, access to that vaccine will continue to grow, so over the next couple of months we anticipate that we'll able toll have our store similar to the flu season that hopefully in the spring time frame that we'd be able to have individuals come into our stores and get that vaccine when it's available to the general public. >> right. yeah, i got my flu shot at the walgreens in town this year, so basically the -- the best you can tell at this point is the springtime for everybody else? >> that's right, but ultimately our first priority based on acip recommendations and the federal government and the states have done a real great job with the limited vaccine that is vainly, let's make sure we immunize those that are most at risk and then as vaccine continues to build up in inventory then we would continue to expand the group so it is going to be a

week-by-week process where we'll be monitoring and then making sure that as vaccines build up we'll help to continue to support and expand access through our locations when the timing is right. >> yeah. makes sense. we'll all wait and see what happens with moderna next week and then the other ones that follow. thank you so much for your time. >> thanks for having us. >> let's turn now to washington where we did get progress or at least movement over the weekend in stimulus talks. the skinny bill is back, and the whole thing could now move forward in two pieces, but the clock is ticking. let's get to ylan mui with the latest. ylan? >> reporter: well, kelly, there is growing support for this proposal from both parties with now the number two democrat in the senate dick durbin throwing his weight behind it as well. the bipartisan group of lawmakers who have been working on there are planning to release the full details at 4:00 p.m. today and multiple sources tell me that they are going to be

splitting up their $908 billion package. a the first piece will be worth roughly $748 billion and includes a relatively non-controversial item, extending jobless benefits, $300 billion for small buses and money for the vaccine and for schools. the second bucket would be all of the hard stuff, $160 billion for state and local aid, the guard rails for distributing that money and the language on liability reform so the idea here is to let party leaders decide whether they will be able to marry these two together or whether to keep them separate, and today importantly the u.s. chamber of commerce, one of the biggest advocates for liability protections, said that it backs this approach as well and in a statement it says if there's insufficient support for including liability protection and state aid congress must pass the remainder of the pandemic relief package developed by the bipartisan working group. kelly, they said at this point a partial agreement is better than no agreement.

back over to you. >> this agreement would include the $300 boosted jobless benefit, correct, not the possibility of a second stimulus check that had been floated by the white house in its plan last week so if this moves forward there will be no other direct checks coming, right, at least as of now? >> that's right. if this moves forward as is, there would be no stimulus checks included. what i'm hearing from the group is this was not part of a their original framework but they are not ruling this out. we'll have to see what happens with bernie sanders and senator josh haul who have both pledged to hold up any government funding if these checks do not get a vote in the senate. could we see potentially three different votes in the senate, up on the first piece, one on the hard stuff and one on stimulus checks. right now it's all up in the air but they are recognizing that these needs to be broken up into bite-sized pieces and then allow the leadership along with the

white house trying to figure out how to put the puzzle pieces together in a right way to get something across the floor and passed. >> get it done quickly. thanks so much. now the markets have been flirting with record high territory today but if you check out the chart, we've gone negative on the dow and s&p, struggling to stay positive after trading above the record close. and my next guest says stocks are the most outlandishly priced of all commodities in u.s. history. he's equities guy and joining me now is the chief executive officer at smead capital manage president. are you caution on this market overall? >> we are. we would not be very interested in owning the s&p 500 index which is now going to be chocker block with very expensive and

popular items that will do better if we stay in quarantine, and obviously we're nervous for our friends that are feasting in the growth stock world the last two or three years. >> so that being the case, bill, and we've talked about some of your preferences for the home builders and so forth. quickly on that point, i think people should know as they debate whether or not this group can outperform next year. this is like a ten-year call for you, right? >> the best chart we have and the one that really helps you understand what's going on is not the absolute level of homes being built. you know, that gets reported every month, how many home sales there are? what you have to look at to know history is what part of that is per capita? in other words, is in -- in 1970s and 1980s an extremely high interest rates, the number of homes being built per capita were way higher than now.

in fact, today's home building divide by population only puts us up to the worst recessions of the '60s, '70s and '80s, so, you know, the covid got people going, right it got the millenials interested in owning a home but now there's 90 million millenials versus 65 million gen-xers meaning 60% more people need a house and myself and other people over 60 are way less interested in selling their house than they were before all the covid hit. >> fair point. i want to move on and talk about what you referenced here about commodities. you think stocks are outlandishly valued relative to commodities, so tell me why you think commodities are actually generational kind of investing opportunities here, and if you would actually invest in them. i mean, the whole point of stocks is cash flow and different valuation models. might even pocket a dividend. not the case of commodities unless there's a stock in

particular that you like here so how would you play it? >> a great question. i was an econmajor, right, so it always goes back to economics. so think about this. scarcity creates value and you think with auch the esg stuff and a new administration and all these companies trying to go green, it's like nobody is going to want the oil. no, no one is going to want to poke holes in the ground or let people poke holes in the ground so whatever oil and proven reserves there are becomes dramatically more valuable. you can get $180 a share in proven reserves at continental resources even though their market cap is $18 a share and their debt is 13, so you're paying $31 for $180 worth of oil and that's a good trade, so what you have to understand is you just mentioned the stimulus. the number one thing that $4

trillion plus of stimulus and the fed doing their accommodative stuff is going to be, it's going to bump into 90 million millenials, and it's going to cause inflationing, and when that inflation hits, people are going to look for investments that benefit from inflation, like real property that has rudders, proven reserves, spreads at the bank, so this is going to be a different world of investing the next five to ten years. it always is. it always moves around, and -- and that's where you want to go for the next cycle. >> it's still a contrarian bet on inflation right now. just look to the bond market, but it's one that you say with such conviction, bill, so chevron also one of the names you like. simon property group among others. >> yes. >> appreciate you joining us. bill, thanks so much. >> thank you very much. >> bill smead of smead capital management. a number of those likes in his portfolio right now. come up 1.5 billion, that's

how many g-mail users there is are worldwide and a large chunk of them lost access to their account today. many of other google services went down. the details and the response and what happened. that's all next. plus, crude's big comeback and gold's recent rut. goldman's head of commodities joins us coming up in just a couple of minutes. back right after this. 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.

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welcome back. google is getting hit were a massive outage earlier today which temporarily affected google, youtube, google drive and other services. the shares down 1%. deirdre bosa is here with more about what we know so far. deirdre? >> reporter: kelly, all services now restored, but that outage lasted about 40 minutes. google says that it was an authentication system outage due to an internal storage quota issue. put simply it was an internal issue. this is not a cyber attack, and we're told that no security was compromised, but this outage and

some other ones recently are a reminder reliance on the cloud and the biggest players, amazon, googled and microsoft. it has never been more important. a few weeks ago amazon aws experienced an outage that lasted ours, internal capacity issue and had ramifications for many companies, websites and operations. one school that uses google class term had to tell virtual students to miss tight. missed the out on the start of the day and internet services that use voice callers, access to email was cut off to many people as well. google, of course, one of the most widely used email clients globally. interruptions like this morning, they are not uncommon, but key is that more work is moving online so they are having much bigger impacts. back to you. >> yeah, and it's interesting, deirdre, because a friend of mine whose son is going to school can. it's not like he's doing school from home still had a bunch of things cancel today at least initially like

this. >> yeah, and i think this the key is that more people are doing things not locally. that is, not on their computers. that's why your friend's son had issue and going to school in person so as more of that happens, if something goes down. sometimes it can have a bit of a domino effect. that's what we saw. we know more about the aws outage. did the a much lengthier postmortem and that's what we're hoping from from google, kelly. there's still a lot of questions. how can so much go down at once and we're looking for that and will bring that to you as we get it.

>> absolutely. deirdre, thanks so much. our deirdre bosa just mentioned shares of the parent company alphabet lower. gold's glitter fades. we'll speak to the head of goelman commodities about that

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home and outside of the home of some of these businesseses is going to stay for good and become a much more standard

protocol. yes, rhett flakes trade has sort of been shifting sort focus away from names like chlorios which is why the stock has come off in recent weeks but you've got think that this is going to be a sustained demand that we've seen to at least some extent. >> deer drag, i'm on team -- clorox has pulled forward like five years of demand. i don't know. i don't know if hidden valley salad dressing is going to carry them through. >> does it need to? mean, there's been such a shift in consumer habits as morgan was just outlining. does paranoia last beyond and i think that's a real poenlt possibility. also the new ceo is really interesting. one of the youngest executives of a fortune 100 company, linda rendell and that was interesting. she's trying to get the production line in order so they can actually boost their supply of it, and she's sort of scaling back on the more eco-friendly

products, cleaners in order to get the ones that people really care about now out the door which to me seem sort of counterinto ycounte counterintuitive. >> clorox to me is like the battleground stock like the battleground stock for 2021. can it keep going or not? the battle for gen-z is heating up because reddick has just bought this tiktok rival. according to red it, about 25% of black teen-agers use dubsmash. it just surpassed facebook as the most download p. just as people are saying tiktok is king, is dubsmash coming in? >> absolutely not. i view this as an internet

company kneeing to need to be o platform. now we have this tiktok form yalt where you kind of scro-- f. i see that as a way for red it to build that into their system. i don't see reddit going after tiktok necessarily. it's a way to follow that format without having to really build it themselves. >> i don't know even know why reddit would have to when it seems like it's the message. what is the point? i'm certainly not the expert. i take your word for it. guys, we'll leave it there with a big thank you to all in rapid fire today. still

welcome back to "the exchange." the covid vaccine is rolling out across the country and batches

are shipped to hundreds of health care facilities. brian? >> reporter: yeah, kelly, listen, this is the day we've been waiting for, v-day, vaccine day across america. we talked so much about this, the sicience. but now it comes to the ground where the men and women here have got to use their local knowledge, local expertise to make sure the vaccine gets to where it's going. the vaccinations began this morning here in shreveport. larry, the ups man, literally rolling in the box. thank you, larry and everybody at fedex and ups and all those helping distribute it.

louisiana, 64 parishes, nine administrative regions of hospitals, 18 organizations of agencies involved in the 137-page play book to get this done. i want to be clear this is not the vaccine, but this is how it comes. they have a mock-up so they can practice what they need to do. look how small this is, kelly. two milli liters. they're going to come like this into these big freezers negative 80 degrees. literally they'll have a team of people doing this. they'll have three minutes do it. these are mock-ups to practice. do it here, get it in here. tomorrow we'll be on the road following some of these trucks

to the rural hospital. you got obviously the logistics of getting this done. as i said earlier, it's a dance against temperature and time. but there's so many weird little issues that maybe you don't even think about. look at the tape. the tape, okay, guess what. you need tape to let people know in is not some cooler on the dock. this is critical life-saving vaccine. by the way, kelly, this tape comes from bergen county, new jersey, right around the corner from cnbc, brief it or noelieve. it's going to be saving lives across the rural south and all across the united states. >> it's fascinating. i can only imagine what it's like trying to work quickly with those vaccines. thanks so much, brian sullivan. thanks so much, brian sullivan. up next on "power lunch," the

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