day. between the b mow call and some of the headlines today, netflix is up 4% and disney is down 2%. tesla is going into the s&p on friday. it's adding another 4 plus% ahead of that. it will certainly be one to watch. we will see you then, ty. >> see you tomorrow, everybody. thanks for watching. >> "closing bell" starts right now. thank you, kelly and tyler. and welcome to "closing bell." i'm sara eisen, here with wilfred frost. stocks mostly flattish to start the week. the dow and the s&p losing steam flout the day. nasdaq is still outperforming solidly in the green. let's look at what's driving the action right now. the rollout of a vaccine begins here. first shots delivered and administered in the united states. plus, we will continue to watch the on again off again stimulus talks reports out of washington showing progress. that's helping sentiment today but we have yet to see details

emerge. as mentioned, nasdaq is up almost a full percent. consumer discretion year and tech leading. and keep an eye on the record closing for the russel. 59 minutes left until the close. >> nasdaq also set for a record close despite the s&p and dow being flat. ahead, a care interview with the ceo of costco. we will discuss the customer's part this the covid-19 rollout. plus a busy day for m&a. we will speak with huntington bancshares about the company's multibillion merger in the bank space coming up later in the show. first the historic rollout of pfizer's coronavirus vaccine here in the u.s. meg tirrell has a look at the process, how it is going so far.

>> reporter: we have been seeing the first health care workers in the united states getting the first shots with their covid-19 vaccine all across the country today from new york to ohio, philadelphia, iowa, and louisiana. all in, 2.9 million total doses going out from pfizer. today there will be a total of 145 locations expected to receive shipments of the vaccine. we learned as of 11:30 during an operation warp speed briefing 55 had already received those. all should get them today by 2:00 p.m. local time. now, we are also expecting of course this week to see moderna's vaccine go through this same process. together operation warp speed and health secretary azar say 30 million people by the end of january will be vaccinated and throughout february and march, 100 million people will have received at least their first dose. this as the government has struck a deal for now consume

lative 200 million doses of moderna's vaccine, still only 100 million doses of fizers. in talks we heard from pfizer's ceo in morning for another 100 million doses and talk of using the defense production act to ramp up production. here's what the ceo told bus that prospect. >> i think it would be positive and it would allow us to maximize what we can do. we are asking them right now a few thing. we haven't done it yet. but we are asking them. and i hope that they will do it very soon. because particularly in some components, we are running at critical supply limitations. but i think they will do it. >> now, guys, pfizer of course has committed to 1.3 billion doses globally next year. they have already of course struck that deal for 100 million doses in the u.s. we will see when we can get another 100 million. he told us they are working to

see if they can increase that even burgt beyond 1.3 billion. but we will have to see. >> meg, thanks. let's discuss what all of this means for the market. mike wilson joins us now on the phone. mike, great to see hyou, as always. interesting action in today's market with the good news of the vaccine being distributed here in the u.s. the market flat and nasdaq only slightly higher. is that because it has been already priced in? >> over the last six weeks we have had a whole flurry i would say of good news that's hit the market. market prices have recognized that, appropriately, the rotation that's going on reflects the reopening story next year that's being embraced. and yeah, from an s&p 500 level

standpoint we are pretty much at the upper end of what we can justify without speculating on -- prices sort of bubbling up. by the way, it is the end of the year. you will start to see people parring back on positions like they usually do. there is one thing, client shares and investor shares is sort of exhaustion as busy as it has been. we may lich in and go sideways from here. >> i think it is not just investors and clients mike feeling that. everyone is. do you still favor cyclicals over the kind of growthy tech stocks that have done so well in recent years? if we do see a sort of meaningful pullback for the s&p 500, does everything get hit in that pullback given the cyclicals that played catch up in the last couple of weeks? >> i think that's an interesting question. first of all, we have to acknowledge that the last six weeks -- i mean it is unprecedented in terms of the

speed of the move we have seen, you know, kind of going into the election and past. and so some give-back is expected. i do think it will be sort of broad brush if we were to get a pullback because we have got to take down sentiment and positioning got a little extreme. it will be a little reset. into that reset we do like cyclical stocks levered to the reopening but we also like growth stocks. i think what's going on in wealth there is a shift in the growth world that may go on next year that may surprise people. the back end will rise and that will put pressure on expensive growth stocks not all growth stocks. growth as a category should always work over time. we just think you need to be more tendant to valuation. we think that catalyst of valuations coming under pressure will happen as rates come up.

we expect that in january and february when the vaccine has been distributed and tolerated inauguration day and thereafter are positive catalysts to cause the rates to rise and put pressure on the higher valued growth stocks. >> where is the place to bet given your cyclical view? that's been our view since april. the story is different than the cyclical call. it's related but it all tie into the same thesis, which is that when you go into an economic recovery as revenues come back there is a tremendous amount of operating leverage because cost cutting has been so significant not only in labor but in other things. this recession is unique in the sense that small and mid cap companies did get tremendous government support through the ppp and other programs. they have been able to access

capital markets so their bank lines aggressively, we haven't seen the default cycle perhaps as people feared. yes there is going to be operating leverage into the small mid cap companies going into next year. we think as we go into 2021 it will become more itio syncratic. since march, you buy the index and you have done really well. going into next year you are going to want to skew it more company specific, where have companies got their costs down and they will be able to pass on inflationary costs and materials and other areas. it is going to be more of a stock picking game but small caps stu beat large? mike wilson thank you for joining us with psalm of our calls on v dan, vaccine day. up next, an interview with the ceo of costco on vaccine distribution and the stockpiling trend for groceries.

we will get his sentiments after the break. you are watching "closing bell." we're excited to do business with you but before we sign i gotta ask... sure, anything. we searched you online and maybe you can explain this?

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so far this year. the big box retailer has been one of the winners during the pandemic reporting strong sales with e customers surge 86% in the first quarter. ginning us now for a rare interview, costco's ceo craig jelineck. thank you for joining us. it is good to have you here. >> thank you for having me. >> clearly you have been an essential retailer during this pandemic. what would you say overall are your key learnings or takeaways about consumer behavior, the way we shop, that you are going to carry forward? >> well, i think if you look at the behavior -- i do think things will change as we go. but our food sundries business w the closing of dining has been very strong. our stay-at-home business, which would be television sets, computers, furniture, has been

extremely strong. sporting goods, all those stay-at-home type businesses. that being said, we have a very strong travel business. our gasoline business has gone negative. so we would think that as the vaccine comes you will start to see some of the changes that will take place. and we expect that starting next spring and summer you will see our travel business and our gas business rebound with everything else that's going on. >> overall sales, though, craig -- i mean there is this thinking on wall street that the sales that you have seen, as well as some of our competitors, just can't last and that it is going to be tough comps next year as the vaccine comes. how much do you think was pulled forward in terms of demand? what sort of head wind are you facing on those comps? >> if you look at -- it's going

to be -- i in my wildest dreams have never seen a year like this, nor did i think the comps would be this strong. you have a lot of businesses out there that are being closed that being said in february and march our food and sundries business was extremely strong and our non-food business was non-existent. then as things started to open up our non-food business started to come back. do i think we can run the same type of comps as we had previously? that's going to be difficult for anybody to do. but i do think as long as the economy stays relatively healthy that we will continue to grow your business as other retailers will. >> craig in the short-term, have you started to see some of the stockpiling trends that we saw in march and april come back as cases have spiked and semilockdowns have been put back in place again? >> yes. not quite to the same degree. one of the things that does

surprise me was we were going negative traffic count when we started last january -- excuse me, february, march, april. our traffic count was going south. now, for the last three months, our traffic count has been very, very strong. so i think with things in place, people are still wanting to come out and shop. they are still buying extra toilet paper, sanitary-type items and things like that to -- you know, to continue to make sure that they have, because some of these items are going to continue to be -- disinfectants are going to continue to be a long term need. you see a lot of extra buying -- i say extra buying. we put limits on these things but i think we will see this until probably the middle of next year if i had to guess. >> the membership model has been attractive to wall street, well, and consumers, well before even

this pandemic, craig. and you are managing to grow those numbers and also retain members for a very long period. how do you see that shaping up after the pandemic? what's a normal rate do you think of growth for revenue membership do you think in your lifetime -- in costco's lifetime? >> well, we would hope to continue to grow our membership. it's all about value. if we can continue to create value out there, no matter what the situation is for our members, we will continue to grow the base. so i don't see a big issue with that. what we were concerned about early on was if, in fact, people were going to be hesitant to come in. you pay to shop at costco. are you going to be able to continue to renew at the same rate? the answer is we are renewing at about 91% a year. we are pleased with that. that is not -- that did slow

down in the middle of the pandemic. but people stepped back up and renewed and we are back up to the 91% level. >> craig, it has been well reported in recent years how you guys have had certain loss leaders like rotisserie chickens for $4.99 or hot dogs or whatever it might be in order to try to keep customers happy and get them into the store to spend on other items. does the online age mean there is less attraction for you to do those sorts of things because it is not as important the get people physically in the stores? >> well, it is still important to get people physically in the stores. i still think brick and mortar is not going to go away. and we want to continue to get people in the stores. and there is no better way to do it than a $1.50 hot dog and a rotisserie chicken. >> i wanted to ask you about vaccine rollout. obviously, today is a very important day for this country. you have signed on, along with a

number of other cvs, walgreens, to distribute the vaccines. what's plan? when can people expect to get them at costco? and how are you going to do that? >> well, you've got two phase at the moment. you have got 1a, which is going to be for health care workers. and then, which we are part of in alaska, the state of washington, and puerto rico. now -- then you have what we call 1b, which will be essential workers and high-risk individuals. we have had no communication with any of the government on that whatsoever. then you will go to the second phase, which will be the general population, which we don't know yet when that will happen. i think our assumption is, you know how that works -- it could be sometime in early spring. that we would be completely part of. so we just don't know exactly

where we are with the government. we -- and how that's going to work. but we will be part of the essential mass piece and part of the become workers. >> craig, pivoting back to some of the short-term trends you are seeing from the consumers. a couple of months ago there were fears that the holiday season would be relatively soft because of demand brought forward. on those types of products what have you seen? and what are you seeing as we approachas christmas? >> if you look at -- i believe that christmas came very early. our business was very strong, and then things started to slow down a bit the week of thanksgiving. our traffic count was very flat. we didn't see a lot of the big, big meals and things like that, with turkeys and pumpkin pies. you have two extra days now prior to christmas, shopping days. our business is still strong.

but i can't tell you it is going to be as strong as it has been in previous years. >> what's the plan for e mers, craig, after you have seen such strong growth, and continuing to drive that post pandemic? what technology are you excited about in doing that? >> well, we are going to continue to build that business when you talk about technology we purchased from transform, which is sears, about the same time the pandemic started in mid february, a last mile. we see a big opportunity to build our last mile business in big-ticket items, bulk items. so we see a big opportunity in building that business moving forward. our apparel business continues to grow on line -- yes, ma'am? >> no, no, no. sorry. didn't mean to cut you off. go ahead. >> okay.

our apparel business continues to grow. so our overall online business will continue to grow. will we get tricky? no, we won't. we will just continue to bring value on high end goods and quality merchandise and deliver either through the warehouses, brick and mortar or through e-commerce. >> finally, i just wanted to ask about another piece of your business that has been a focus which is international and what the outlook there is and how fast or slow you see a recovery versus the u.s. market. >> if you look at international right now -- and they are not without their issues with covid, but our international business is extremely strong at the moment. and we really -- we at this we have gained market share there, as we believe we have in the u.s. and we will continue to grow that business internationally. that includes china. continuing to grow in japan,

australia, and of course spain and france. we already have a very strong presence in korea, japan, and taiwan. >> craig, thanks so much for joining us today. much appreciated. >> thank you guys, have a good holiday. >> you too, happy holidays, indeed. rare interview with the ceo of costco. what a lovely man. sara called you man there, i bet you would like mike and i to continue with that day to day. >> no. very polite. caught me off guard. you can call me ma'am, wilfred. >> yes, ma'am. yes, ma'am. still ahead, we will speak with the head

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welcome back. time for a news update with sue herera. >> good see you. hello, everybody. here's what's happening at this hour. michigan's 16 electors officially cast their ballots on joe biden half an hour ago meeting in a closed down capioll building due to what officials called credible acts of violence. electors in all key swing states for trump have now voted for

biden. he is expected to speak tonight. the university of washington will not be playing this friday. due to problems with covid it doesn't have enough scholarship athletes available to meet requirement. oregon will now may usc instead. and cleveland's major league baseball team made it official. it is getting a new name. it will continue to play as the indians during the 2021 season as it decides what to call itself. sara, back to you. the new york team thinks maybe the cleveland rocks. >> shares of disney up dibble duties over the last week. and one firm is stepping to the sidelines and telling you to invest in another name inted. a check on yields.

the ten-year around .89%. we were this the 90s last week or so. a little bit higher,area homeows

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30 minutes left to go. here's a check on markets for you. nasdaq remains firmly higher. it's up almost a percent heading potentially for a record close. so is the russell 2000 small caps up .75. the s&p is flat. and the dow is down 52 points. individual market movers. shares of of disney flipping. downgraded to market perform from outperform the firm saying shares are stretched and that netflix is more attractive. netflix shares are higher along with other tech members up 4%. adidas is weighing a sale of its reebok brand. the company saying it is developing a new five-year plan and mulling over reebok's future roll. a decision will be announced in march. we have got an exclusive

interview with the ceo of adidas on wednesday on "closing bell." looks like they are going to be losing money. 2005 they bought reebok. it was $3 billion in annual sales, now it is 1.7 in annual sales. >> it had a brief renaissance during that period of ownership, right. >> it did. everyone was obsessed with the old school styles and they brought back some of the famous '80s trainers. that was a little bit of a moment but never got back to its glory days. >> you just said trainers and not sneakers. i like it, where did that come from? >> did it come from you, maybe. >> brilliant. >> maybe i will also ask about arsenal's terrific season. >> we have been joking about that. you actually really should. because whatever they paid in sponsorship was overpaying because we have steadily

declined since then from an already low date. it has been a decade. let's not get started on that now. we have 28 minutes or so left. here's where we stand. down 73 down on the dow. the low of the session is probably that. i had it down to 67 before this. fresh lows as we speak. after the break the ceo of sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... boss: doug? sorry about that. umm...what...its...um... boss: you alright? [sigh] [ding] never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers plus some of the lowest options and futures contract prices around. don't get mad. get e*trade and start trading today.

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>> consolidation among regional banks isn't slowing down. huntington announcing it will merge with ttf financial in an all stockdale valued at $22 billion. the combined company will have $168 billion in assets and operate under the huntington name. it comes on the heels of spain's bbva and -- joining us, huntington bank's ceo steven shiner. thank you for joining us,

congrats on the deal. >> thank you of it is a great deal for both sets of shareholders. >> i wanted to ask you how long you have been working on a deal like this, and this deal in particular and the extent to which the sort of depressed prices of the pandemic allowed it to map? we have nope the chairman of tcf for over two decades. woe do a lot in the community and regularly interact. this deal started around october. but it is a relationship that basketball building over many many years. we know each other's family. this is unusual, so there is a high degree of trust and confidence. that allowed us to start and move rapidly through. we created a win/win. >> the word scale appeared in your press release. synergy will come and cost savings and the ability to pool

resources and spend on things like tech. when truist was formed it was very clear that was the primary reason for the deal. is it as clear a reason for you? >> well, this made sense from start of an industrial logic just on the synergies. there is a lot of expense opportunity and i think even more revenue opportunity over time because we both have growing franchises. but the ability to additionally invest in technology, particularly digital, and innovation is very significant. again, the economics of the deal are compelling. so that's, if you will, the icing on the cake for this. >> analysts really like the midwest exposure that you are going to have. obviously, you already have that, being from ohio, steven. is this a recovery play in any way? does the timing have anything to do with the fact we are just getting the vaccine literally rolling out to americans today and the outlook should improve for the economy and for the

banking industry? >> the vaccines are coming out of michigan. and there is clearly an outlook of improved economy that we have and i know gare audio torgo the chairman of tcf shares. so this is a bit of a recovery play, but it makes sense at any sort of stage in the economy. we just happen to believe that michigan and ohio have recovered significantly, half the manufacturing jobs recovered so far in the cycle are in the midwest. and so we've got 5.6 and 5.7% unemployment. it is only going to get better from here. putting the two together now makes a lot of sense to get the benefit of the longer term recovery that looks like it's at hand. >> steve your shares are down 3 or 4% as we speak. that's not out of the ordinary object a day you announce a big deal. it is a one-day move. that said, this is an all-stock deal. are you nervous that someone will now that the cat is out of

the bag see that you are buying tcf and try to top your offer with a cash offer or room yum to what you are offering? >> not at all. the combination here is incredibly synergistic and very uniquely structured. we have again very long relationships with the management team. i don't worry about that at all. >> steven, just a general question on how your business is doing right now. because the big wall street banks are getting the benefit of stock trading desks and ipos and morgeers and acquisitions. what is it like with you right now, with loans and what you are seeing in the business? >> to our third quarter earnings announcement we were ahead of year over year on wretch and pretax position at revenue. so despite the pandemic and the recession, we are having a pretty good year. and we expect that to continue, particularly as the economy strengthens. and as we came into the quarter,

we talked about improving loan portfolios in terms of credit quality, loan pipelines in terms of business. and that still remains the case. it's a -- we are in a good growiography for this recovery. and it's working to our advantage. >> what, steve, long term is the ideal scale you would like the reach? clearly, this is increasing your scale, you know, to that of a sort of keycorp, but the analysts notes on keycorp over the last year questioned whether they need more scale given what's gone on with companies a bit bigger than them. obviously an all stock deal, you are not using the cash. is there score for more in the year or two ahead. >> well, this deal will make us one of if not the most efficient regional bank in the country. so, you know, you can measure scale in a lot of ways. we have a lot of scale in ohio, michigan, increasingly in chicago. and we have these exciting new markets that we are going into,

a number three deposit share in minneapolis and denver. so our entire footprint is tied now into the extension of these new markets which are great opportunities. if you can choose the markets throughout the u.s. you would like to go into most people would choose minior denver because of how dynamic those economies are. it works very well for us on both levels. >> steven thank you for joining us to talk about the deal today. we appreciate it. >> real pleasure. thank you. happy holidays. >> happy holidays to you. taking a leg lower here. dow is down 151. up next an inside look at how u.p.s. is shipping the vaccine. plus the news that sent virgin i think financial sent virgin illiteracy and inclusion is everybody's problem. and that's why we created rapunzl. the rapunzl app was designed for high school and college students to simulate stock portfolios.

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investing. banking. guidance. 15 minutes left in the trading day. we are now in the "closing bell" "market zone," commercial-free coverage of all the action going into the close. here is break down the crucial moments of the trading day is chris if a roen. let's kick things off checking on the market. major stocks are off their earlier highs following the roll out of pfizer's covid-19 vaccine this morning. the nasdaq on set for a record close. it slipped a lot. only up half a% now. among the name leading the index

higher, alexon pharmaceuticals, insight and tesla. chris on the short-term levels we have been hitting of late, clearly record high closes likely today for the nasdaq and we have had them of late in the other indices. do we think in the short-term some kind of pullback is due? >> i think that's the consensus call. sentiment has been a big part of it recently. we are this the strongest part of the calendar here. and i think you run through january and fed february before you get some weakness. 2009 is an interesting comparison. we were up 60% off the '09 low into about december. then you rallied hard through about april and then ultimately corrected in 2010. i think that's the road map here given some of the similarities to the post crisis overmath. i would also note what is important about the pullback of

the last couple of days nothing internally has gone wrong. breadth is still good. >> lindsey, what about you? what your feeling on some of the softness today. we are heading for the longest losing streak we have seen for stocks since september. i want to welcome you in. allied chief investment strategist lindsey bell with with us. what does it tell you about the action today? does it tell you you should be taking chips off the table after a strong year. >> i look at the last couple months. november was such a strong month, up 13%. i think it is a little bit natural here to take a bit of a pause in the marketplace, especially given the uncertainty that there is around stimulus as well as how the deployment of the vaccine is actually going to play out, what the speed of that is going look like and how it is actually going to impact economic activity just at a point in time when we are starting to see a lot of

different cities and states add on restrictions to businesses the consumer. i think a pause here makes a lot of sense. that doesn't mean i necessarily think we are going to follow off a cliff going into the end of the year. but i do think the market wants to be some headlines on stimulus being passed sooner rather than later. >> chris in your most recent note you had the phrase it was short-term overbought but that's historically bullish. can you explain what you mean by that. right now you have 95% of stocks above the 200 day moving average in the s&p. that's historically stretched. people hear the term overbought in our language and assume negative connotedtations but the gains you get six or 12 months in the nut are better than the afternoons. overbought is bullish. it reflects momentum. we have seen it in the en and in europe.

the momentum searches don't tell you a lot about the last couple of weeks but the forward returns six and 12 months in future tend to be very, very good when you get those momentum surges. let's talk about the vaccine. shipping of pfizer's coronavirus vaccine is under way. we have frank holland at u.p.s.'s air hub in louisville, kentucky. >> planes like the one i am standing in and containers like the ones behind me is how u.p.s. is moving pfizer's covid-19 vaccine. 2.9 million doses are being delivered this week from today up until thursday. these estimates will be made alongside christmas presents. some of the first were made in boston and louisville this morning. both companies say vaccines will get priority over christmas presents. we also asked them about the storm heading to the east coast. both said they have contingency plans in place should the

weather turn severe and that be necessary. >> i have a question, frank. i agree, vast vaccines are better than christmas presents overall. do they have enough capacity with the cold freezer kind of trucks for shipping and delivering all this? and planes? >> sara, that's the one issue. refrigerated trucks are being used in some cases pretty much as a precautioner. all of the pfizer vaccines can travel on their own in self-contained containers but fedex and u.p.s. both have contingenty plans in place. they have cold chains around the country should they come up. they have carriers and security teams that can respond if there is a problem with the temperature or vaccine peters, if you will try to steal the vaccine. >> frank holland thank you for that. lindsey bell the fact that we have sold off so much intraindicate today in light of the first vaccines being

administered in america and the cyclicals and the industrials and the materials are underperforming does that mean the vaccine is fully priced in and we have to wait for stimulus or some other factor to get the market going again? >> to some extent i think a lot of the good news related to the vaccine specifically is actually priced in. if i look at the health care in general since early november when pfizer was the first one to report the outcome of some of their trials and efficacy of their vaccine -- health care hasn't done much. up about half a percentage point. even if you go stock specific, too. we have seen a little bit of a pop in pfizer. moderna has been the big winner there, the small cap of the group. but you haven't seen a lot of movement in the health care sector overall. and today a lot of these stocks are down. so it implies that it is selling news that applies for that

sector. i think today we are seeing tech leading the way. also the small cap hanging in there for to most part indicates there is a dichotomy in the marketplace where investors really are hanging on to hope for 2021 prospects and looking forward to the reopening story there. but as they are returning to some of these defensive -- tech has been a defensive sector over the past year. so they are returning to tech at this point in time while they -- they wait and see to see exactly how things pan out over the next couple weeks or months. >> chris, out of frank's story i was going to ask you about the shipping companies and whether this was any sort of catalyst for them, for the stocks? and lindsay also mentioned the vaccine makers. do you form investment thesis on these kinds of stocks who are in the center of the vaks when there are going to have to be so many of these vaccines shipped around the country and around the world.

>> we do. what is remarkable is how strong the transports have been, the lodgistics names or the truckers. lindsay hits on an interesting point, the market's interpretation of covid this time is very different than how it appreciatiated it in february and march. you see it in the small caps. they reacted remarkably better in the last several months than at the start of this. ities i would also note looking at the risk, if everything goes right, if the vaccine, georgia, stimulus goes right, what do ten-year yields do if everything goes right. 140, 150, 160, is that the catalyst for equity weakness in the first half of 2021. >> are you saying 140, 150 is enough of that? are you saying it is likely we will get there early next year? >> wilf what i think is interesting is if you look at the bloomberg survey of where the sell side is estimating yields will be at the end of

2021, only four of 54 forecasts are in excess of 150. so maybe the surprise is we are talking about 160, 170 in the first half of '21. i think that could be a pain point for stocks. >> virgin ga lattic a big loser on wall street today after a failed space plight attempt. >> aborting saturday due to an engine ignition issue. the good news, the spaceship and its two pilots landing safely and smoothing demonstrating the safety of the vehicle as well. the downside, expect a delay in the program that could, according to ubs, at least, last weeks. this would have been the first manned night by the company to the edge of space in two years. the first one from new mexico. one of three needed according to the time line that the company previously laid out before ticket sales would reopen and service actually launches. ga laktic does plan to attempt

this launch again though it is unclear when. it is reviewing the data from this past weekend. shares are down 1%, but they are still up almost 130% just for this year. guys? >> morgan, as you said, the shares have been on a tear already. >> oh, yeah. >> 17% painful if you bought the stock last week but not too big in light of that. what is the time line from here? they need to complete how many more flights? when would they be taking consumers into space if they go up? >> they were looking to do three of the manned flights to the edge of space. this would have been the first of three f. everything goes right, if everything is successful, they retry this mission, they do another one, and then the third test fight to suborbitial space will take sir richard branson. once that happens, when that happens, then they open up ticket sales again and then they are in a position to basically launch commercial service.

all of this was expected to happen by the end of the first quarter of 2021. so in the coming months. unclear how much this shifts that time line. and certainly a company like virgin galactic given the fact this is human space flight and space is hard -- i expect they are not going to be push rushing to necessarily meet that time line. instead they are going to be going to be moving to make sure everything goes as perfectly as possible from here on out. we will see what the data reveals and what time frame they put out to retry this flight-test. >> it seems like this is a setback on that. >> absolutely it is. >> morgan brennan, thank you, good to have you. costco -- e-commerce sales up 86% in the first quarter. earlier this hour we talked to costco's ceo craig jelineck. here's his view whether the company can continue to grow sales after the vaccine.

>> comps are going to be difficult for anybody to do. i think as long as the economy stays relatively healthy that we will continue to grow our business as other retailers will. it's still important to get people physically in the stores. i still think brick and mortar is not going to go away. and we want to continue to get people in the stores. and there is no better way to do it than $1.50 hot dog and a rotisserie chicken. >> all right, thanks to the costco ceo, called me ma'am. lindsey, how do you play these kinds of stocks which have had remarkable runs? costco really had it before the pandemic, but it has proven to be an essential retailer with double digit sales growth during the pandemic. what happens on the other side? how do you look at some of these winners? >> i mean i think you have to look at a couple things and not -- you have to look at the retail space, who has been market share gainers over this

period of time and who is going to continue to maintain that market share they did gain. i think costco is one of those names in particular. if you look at the stock especially compared to something like a bj's, who is also a very similar type of retailer, this stock has been steady eddie up 30% in the last year, a very strong performer. but this is a company that can do well in any type of environment, not just when they need to be essential and are providing food for families. they have also done well in strong consumer periods. i think that costco has been able to prove that they are slow and steady and can continue that pace. like he also said in your interview how sales of gasoline and the travel portion of their business should be able to make up for any slow downs they see in any other parts of the business. these guys also kater to small businesses. as small businesses get back on their feet, too, i think they can be a winner.

>> chris, quickly, consumer staples, costco, what do you think? >> i think it is itch are. it is above the 200 day moving average. it corrected with other names like walmart as well. i think it speaks to the idea that the market is interpreting this fachz covid differently. these were stocks that won and worked in the spring. they are not working right now. i think we should take note of that? we have got just over a minute left in to the close. we have lost some steam during the final hour of trade. we actually opened this morning higher across the board. but those gains have faded two indices are higher, nasdaq and russel. there is the dow. it is down 131 points. you can see the tee tearioration just in the final hour. no main clear catalyst. it is quiet from a headline perspective. vaccine and stimulus optimism continue to rule the day and get pauses in that action. s&p 500 down a third of one percent this would mark four

losing days in a row for the s&p 500. we haven't seen that kinds of losing streak since september. consumer discretion and technology are the best performing s&p sectors. financials are also weak today. the nasdaq has outperformed. strength in the big tech. and consumer discretionary. it looks like it is closing up half a percent. didn't make to it a record close. but the russell 2000, very strong. 1,915, trading right around record closes and outconfirmed the s&p 500 so far in 2020. money continues to flow into small caps. a mixed day on wall street as we close near session lows. >> welcome to the "closing bell," everyone, i'm wilfred frost along with sara eisen. we are set for a record close on the nasdaq but didn't make it. 12,440 the close, below the 12,583 record closing high. we were up a percent earlier but closed up only half a percent on the nasdaq.

dow and s&p both lower by about half a percent. russel still outperforming relative to the dow and the s&p but only up by .1% today having itself been a lot higher earlier in the session. pfizer's coronavirus vaccine being shipped across the u.s. following emergency use authorization. coming up, a former fda commissioner on how pfizer's vaccine compares to others that are being developed. lindsey bell from ally invest and chris farrow from strategic partners are still with us and reggie brown from gtf joins the conferring. reggie, to you first. quite a big intraday selloff despite the positive news on the coronavirus rollout earlier today? >> i think it is more buy rumors sell the news. the vaccine is here, it's being rolled out. it will be in people's arms next week.

i think restatail is phrasing pfizer and you have it worked in. that's my view there. >> as relates to the vaccine -- go ahead, reggie, didn't mean to cut you off. >> no, i am sorry. look, retail has been chasing this market quite a bit. and i think they got ahead of it and i think the marketplace priced in the vaccine. and now it's here. i think now we are just seeing the marketplace set for company fundamentals. >> yeah, just on that buy the rumor sell the fact theme, lindsey, out there, as far as wall street is concerned, investors are concerned, what matters as far as the details on vaccines? we are going to go through the same process with moderna this week and the approvals. still waiting i guess on j&j. those are important factors. what else do you think your clients are watching as relates to the rollout and what comes

next? >> obviously we want to see the good news tin with moderna later this week. i think that's broadly expected so it is pretty muched priced into the market. i think the bigger thing this week is really going to be we have a lot of economic data coming out including retail sales, pmi, home builder housing index. we have got the fed, too, a fed decision coming. budget negotiations within congress and really the big ticket item this week to me is stimulus it. has been a dedriver this market for the past several months. we are at a point where the rubber is meeting the road here. we are starting to see economic data slow down. that's why i said we are waiting to see what happens with some of the information that we get this week. and you know, with certain parts of the economy starting to see increased restrictions and shutdowns we are going to need stimulus for a lot of these small businesses consumers out there where a lot of stimulus that we saw earlier this year

has already expired or is set to expire. that's going really a key driver this week especially in the marketplace. >> chris what's your take on energy stocks. very strong of late. decent pullback today, down 3 or 4%. >> i think what's notable is if you just read the headlines in the newspapers every day you wouldn't know that oil is back to $50. the headlines read that crude is at 20 or 0 back from the spring. when you look at the energy stocks i think they are healing themselves. we have more energy stocks above the two day moving average today than at any point since 2017. names have quietly started to act better. it is against the backdrop of all the majors taking writedowns and cutting spending. we like when the prices start to diverge from the headline. i think we are seeing it in energy, we see it in crude, we see with it the stocks.

the sector is starting to heal itself here. >> a group of lawmakers unveiling details of how stimulus could actually move forward. ylan moi has been tracking the details. where are we, ylan? >> sara, that bipartisan group of lawmakers is set to unveil the details of their bill any minute now. it is a $908 billion package. they are going to split it into two parts. the first is $748 billion, and covers pretty much the things that they agree on, extending unemployment benefits, $300 for ppp as well as money for the vaccine and for schools. the second part is a more controversial one. i has $160 billion for state and local governments, and rules around how to distribute that money as well as the land on liability protection. once we get the text we will be digging deep into it to see exactly how they crafted that compromise. one thing we can tell you will not be in there is stimulus checks. that's coming despite the fact

that senator bernie sanders is doubling down on his demand for direct payments saying congress cannot go home for the christmas holidays until they provide stimulus which provides a $1200 direct payment to working class adults. last week he said he would be willing to shut down the government in order to force a vote on this issue. we will see if he makes good on that threat. >> ylan, thank you. reggie s a stimulus already priced into the market at this point? we have been talking about it for months though they haven't gotten it done? if so, which details matter? >> i think you are seeing it being priced in by the small caps. i think we characterize value versus growth as a return to work versus working at home. and the value russel 2 has been outperforming all year. i think it is picking a speed with the stimulus coming. i think that's the metric. the margaret is already looking at it as it is going to happen at some level, and we will be

getting back to work, you know, sometime in the near future. i think that's what you are seeing the market react to, in my opinion. if you look at the overall rally, i think that the market is selling off but there are fundamentals working towards this week with the s&p rebalance, with tesla. small cap is really the story and the travel-related sectors, airlines and hotels. the future of travel -- those are all the favorite themes that we have been seeing over the last several weeks? reggie, i know you are focused on the s&p rebalancing. is that a good thing for the s&p 500 or a bad thing? >> i mean, it's either -- it's indifferent. you know, you are including another company that reflects, you know, the landscape here. tesla is a big stock. i think it will be interesting to see it once it is fully incorporated. no opinion here whether it is good or bad. >> chris, does it change your

outlook for the u.s. consumer what we get inside the stimulus? the fact ylan said the stimulus checks are now no longer a part of what's moving through congress? >> you know, i think what has been remarkable up to this point is how well discretionary has done without stimulus. not just big cap discretionary. we look at it equally weighted what is the average consumer discretionary stock doing? they have been outperformers since may without the stimulus. we look at discretionary for staples as a well weather economic signal. the resiliency from that relationship continues today. i think we are i think if we are looking at the price schedules, i think the positive here. >> frieser's coronavirus vaccine being shipped across the u.s. following emergency use authorization. meg tirrell has the latest for us. >> the vaccine is makiing its wy

to 150 locations across the u.s. the first shots are going in the arms of health care workers from new york to ohio, to louisiana. all will be receiving their shipments by temecula local time today. more are supposed to go out tomorrow, 425 arriving. 66 on wednesday and 500 beyond that. 3 million doses shipping this week and more next week. then moderna's turn is coming up at the fda. tomorrow we are expecting them to see the fda's briefing documents on the moderna vaccine. if the timing is the same as last week friday night we could see emergency use authorization of the moderna vaccine. and then the following night doses of moderna's vaccine would join pfizers going out across

the states. we also got news on j&j and astrazeneca's vaccine. johnson & johnson enrolled 42,000 people in their trial. her going to stop enrollment this week. they expect data by early january on the initial efficacy potentially putting that vaccine available if it works in february. and they expect a similar time line for astrazeneca as well. potentially a lot more vaccines to follow these first ones. guys? >> i have a quick question on the procedure here, meg. emergency use authorization for vaccines -- how long will it take to get enough data long term to get actual fda approval? and what would that do? what's the major difference in terms what have the impact would be of that? >> pfizer has said it plans to submit its application for full approval in april of next year, once it has six months of follow-up safety data. and so how long it would then take the fda to decide on it

after that, you know, typically it's six to ten months for a review process. of course it is going so much faster in these emergency use authorization situations. in terms of the difference, you know, emergency use authorization doesn't mean that the vaccine is any less safe or less well vetted but there could be difference in terms of the way the vaccine can be sold, how it can be marketed. it will have a bearing on whether employers mandate the vaccine. we heard from a lot of employers who are hesitant to mandate something that's not fully approved yet. >> lindsey, how big of a blow to the market if the rollout was a little bit behind schedule? nothing game changes but if we get to the middle of next year and the guidance says oh, it won't be until the end of the year until we get 100 million people vaccinated. is that a major swing factor.

>> i don't see it as a major swing factor because i think at that point you will have a good chunk of americans hopefully vaccinated by that point in time. it seems like all of these companies have plans to get tens of millions of doses out the door in the months ahead. so i think -- i don't see it as a big blow to the market. it also, though, is going to depend on the trajectory of the virus. if we see a slow down with the warmer months like we did last year that could ease concerns by the marketplace. then we are just going to have to keep our eye on economic data, what we hear from corporations on the ground, and just consumer behavior i think in general overall. >> lindsey, chris, and recommendingy, thank you for joining us. up next, as commercial property prices plunge we will talk to the ceo of fina

welcome back. some dividend news crossing. eli lilly arel raise its dividend by 15% for the first quarter of 202. 85 cents per share. it has been one of the ones this the front lines of this crisis in terms of figuring out treatments. their monoclonal antibody treatment got emergency use

authorization. shares are down hafr hours. the commercial real estate industry hassist been on a roller coaster this year. for more on the real estate and a look ahead to next year, walker and done lop ceo, you were ringing the bell today because it was ten years since you ipo'd. congratulations. >> it is different to be here with nobody else on the floor but it has been a great decade to be listed on the new york stock exchange. it is nice to come back. >> of course the fact that there is very few people around is key to the topic of discussion here. what is your outlook for commercial real estate prices? let's start off in new york and manhattan, clearly an area that's sort of in the eye of the storm of all the changing dynamic in the marketplace this year? >> all you have to do, wilf is

walk around new york as i have today and see that the city really isn't alive. but the bottom line is that most of the buildings in new york city have long-term leases below them particularly in the office market. while the occupancies are down at 10% and 15% in office buildings those buildings have long-term leases from big corporations. as a result the assets and the rent payments are still coming through. office has held in pretty well. as you know, hospitality has suffered greatly. retail is probably the second most affected commercial real estate asset class as people stopped to go to retail to buy and everybody is buying on line. the asset classes we focus on are industrial and multifamily. industrial is moving products and goods for amazon and other on line retailers. on multifamily people still need to live somewhere. those asset classes have done quite well. >> to your point, regardless of

which subsector it is the fact that prices haven't fallen that much yet because of long leases and big companies behind them. presumably the prices set by the next year -- does that not suggest there could be a lot of air pockets to fall into in the years or months ahead? >> it is a tough question to aeb right now given where we are with the vaccines being rld out across the country today. i think people who have problems in their assets are still going the see them for at least the next quarter or two. as a result of that, i don't think you have a lot of distress but the question you asked in the last segment of what happens if we are delayed in the rollout of the vaccine, i think in hospitality and retail there are many owners who are very much looking forward to having things get back to normal. clearly in industrial and multifamily you have actually seen cap rates fall, which means values have gone up because those are cash flowing commercial assets and owners

want to own them more than almost ever. >> you said that people need a place to live, which is clearly true. i wanted to ask about that part of your business. what you are seeing as far as evictions as these moratoriums on evictions start to end and we are facing critical deadlines and we still have a very high rate of unemployment. >> sara, as you know, the relief bill that is being contemplated on capitol hill today has in it an extension of the eviction moratorium and $25 billion earmarked towards rental assistance. we will see if that bill gets passed. but the bottom line is that most landlords across the country are working with their tenants to make sure they not only have a police to live but if they can't pay the rent they can get forbearance on the payment the rent and pay back the landlord once they are back to work. >> what are the factors behind the trends in terms of where

people are moving from and to? is it sip of as urban to rural? or is it more complicated based on things like weather and taxes and quality of life and things like that. >> you certainly have a movement from urban to suburban that has taken place for the last nine months. the problem is that there is no new supply of single family housing in america which means the existing inventory prices have been pushed up dramatically. which means someone who wants to buy an entry level single family home the price point moved up and therefore they cannot buy that hope. as it relates to cities we are seeing people moving to. really there is a migration to lower tax states to call it very directly. you see a number of corporate headquarters which you talked about previously, oracle being the most recent to move from california to texas. and when those corporations move, the jobs are moving with them and people are moving with them. so you are seeing particularly multifamily properties in low tax states such as florida and

texas really doing very very well. and then in higher taxed states like new york and california, that's where you are seeing vacancy and that's where you are seeing some problems. >> willie walker, we appreciate the update. and congrats on the milestone you are celebrating at the new york stock exchange today. >> thank you sara, thank you lfred. wi

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welcome back. they may have the darlings of wall street when they went public last week but today shares of airbnb and doordash are under a lot of pressure. airbnb downgraded from buy to unpachl perform with a 103 price together. and doordash cut to a 150 price target. both of them citing valuation after their huge ipo gains. leslie picker has the details on ipo offerings. >> row blocks is pushing its

debut until 2021. here's why. row blocks's ipo is structured in a way that allows employees to sell at the ipo price. if the stock were to soar that could hurt the morale of employees who sold their stock at the lows. the ceo said the company planned to work with advisers to see how they could make improvements to the ipo pricing process. that they will work on that over the holidays and push the listing to early next year. i am told they are also aweigh waiting final sign-off from the s.e.c. as was affirmed as of this morning. i am told that the buy now pay later vendor is awaiting imminent approval and readying is road show launch for mid weak. however, there is a small chance that likely gets done this year and is likely to be pushed to

2021 given it would be a very abridged road show and it would result in limited liquidity over shortened christmas week. >> the companies don't want to leave the money on the table. again, earlier this year they had to delay filings because the market was too soft and there was too much uncertainty around covid? >> yeah, it is counter-intuitive, indeed. we saw a lot of delays when the market sold off earlier in the year. now we are seeing delays because the aftermarket performance for the recent ipos is almost too hot. the challenge is that when the stock goes up and you have a structure in the way that row blocks does -- this is a good environment to go public in because you would likely be more

highly valuated. clearly, higher valuations for airbnb and doordash than initially thought. and then their stocks soared. from a valuation standpoint if you are looking to maximize that this is the perfect environment. but if you have stakeholders like employees or customers who by on the first day of trading at the highs and then the stock goes down then i guess this is an environment you want to see settle down before you take a crack at it. leslie thank you. up next a fo i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade.

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it's like a gift on top of another gift. gifts keep coming at you. everywhere. this is 5g from america's most reliable network. pfizer vaccine rollout is now under way. it comes as the u.s. is hitting record levels in cases, hospitalizations and sadly deaths. when will we see the trend lines change, the trajectory? and where do we stand with the other vaccines in development. joining us, a doctor who served under president george w. bush. thank you for joining us. as we get this terrible news that the u.s. has surpassed 300,000 covid-19 deaths, when do you actually expect the vaccine to start to make an impact on the skyrocketing caseloads and hospitalizations and deaths? >> sara, this is an amazing day

for this country and for the world. we are seeing the beginning of the end. but it is just the beginning. there are issues with regard to the logistics of being able to roll out these vaccines so that we have an ample number of americans vaccinated and immune from this virus. and that's going to take a matter of months. we also have to deal with a lot of the aftermath that has occurred because of these tremendous infections and this horrendous kind of mortality and morbidity that this viruss that produced. the answer to your question is i expect 2021 to be a year of continuous incremental improvement just as '20 seemed to be a year of continued unfortunate decline. we are going to be on the upslope. what will be the challenge for us is to roll out additional vaccines to enhance the logistics of distribution and most importantly to get americans to trust in these vaccines and accept them and get

vaccinated. >> that's sort of what i was going to ask. there appears to be challenges on both the supply and the demand front. which ultimately do you think is going to be a bigger issue for this country? getting enough vaccines to the people who want them or getting people to want them? >> i don't think the availability is going to be an issue. we have tremendous lodgistics in place to deliver large volumes, billions of doses and we have many other vaccines coming. moderna will be vaeted this week. and then there are others as well. so the fly of, and choices will not be the problem. i think the message for the american people is to understand that although we've made tremendous progress in the past year of going from the genetic code of the virus to now having a vaccine, this is not a rapid and reckless process. this has been built on two decades of an enormous investment especially by this country in the science and technology of vaccine discovery

and development. so it's a sound foundation that we should trust in and accept. >> do you think that the u.s. will end up being vaccinated 90% plus just by pfizer and moderna's vaccine? >> i can't give you a projection on that acceptance and that number, wilfred. but i think there are two parts to that equation. one is patience getting vaccinated and then there are many people who perhaps will already have some immunity. as far as transmission of virus is concerned in terms of people getting sick and dying from it i think we will see improvement of that that will go beyond just the flat out numbers of how many get vaccinated. i think that number will be greater than the number of vaccinationed. >> these are two-shot vaccines, both pfizer and moderna. at what point after getting a vaccine should people feel comfortable either taking off a mask or at least going back to

in-person activities like weddings? >> i don't think we should be comfortable at this point in taking off a mask or abandoning any of these important public health measures. it will take individuals a matter of a few weeks for their immune systems to start building up and kick in. as far as we as a population, it is going to take much longer. i think it is important to realize in this particular scenario that these vaccines are protecting against significant infection. they may not be protecting against you having the virus and being able to spread it or transmit it. so we have to be cautious. there is more work that needs to be cdone. this is just the first step in the beginning of the end. there is much more data that needs to be acquired. the fda will maintain its vigilance over these vaccines in terms of what's going to happen in the next six months not just with regard to safety.

but we have many questions about efficacy. which of these vaccines will be the best as far as producing the best immune response that will be lasting? will there be memory? even if your antibody plater goes down will your t sells remember the virus and immediately protect you? there are many more questions and we need data. we need to be able to capture data as these vaccines are used in the real world and the fda is actively ingauged in that. the you develop foundation which spoerds the fda is working to capture real world evidence and implement the evidence that's being developed in these randomized trials that the vaccine manufacturers are going to be required to continue. >> doctor, thank you. the beginning of the end, as you

say. we appreciate it. >> you are welcome, sar achlt thank you for having me. still ahead on the show, apple is flexing its muscles in a fitness fight with eloton. p 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,

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news on discovery crossing just this hour. the company says it will add robert johnson to its board of directors effective january 1st. the board chair saying in a release, we look forward to benefiting from his business acumen and competitional track record in media. he founded b.e.t. and founder of rjl companies and a cnbc contributor. time for a news update. >> here's what's happening at this hour, everyone. on the same day that pfizer's covid-19 vaccine is being rolled out a terrible toll. confirmed u.s. deaths from the disease crossed above 300,000 this afternoon. that's close to the population of pittsburgh. and there will be many more until a sizable portion of the population can get vaccinated. recently we have seen more than

3,000 deaths on some days. and cases continue to climb. texas has now cast its 38 electoral votes for president trump leaving just three states remaining to join the count. one of them is california where electors are set to gather in less than a half hour. the 55 votes will put joe biden over the 270 he needs to become president in january. and less than three hours from now, biden is scheduled to speak. in an excerpt released this hour biden says quote we the people voted. faith in our institutions held. the integrity of our elections remains intact. end quote. that's the news update. sara, i will send it back to you. up next shiftingtrategies s

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♪ markets ending the day mixed. the nasdaq higher and the s&p and dow lower. the dow had an annual time high earlier in the session before turning negative and falling through the close. looking at a four-day losing streak for the s&p, first time since september. joining us now, paul hickey who remains underweight technologies

and sees opportunity in consumer discretionary. paul, a vaccine strategy question. if 2021 is the year of the covid-19 vaccines, what does that mean for the market with such a strong run-up that it saw coming? >> i think what we are seeing now that the market has been rallying and broadening out of the rally is in anticipation of the vaccines that we are seeing and some sort of return to normalcy. but i think the strategy that investors should take is a more broad approach to the market rather than just tech or the mega cap names in the faang group. so i think the industry is looking in consumer discretionary, industrials, energy, materials, those sectors were all on the weak said. i think you are seeing a little bit of selling the news reaction. probably not the beginning of a longer term trend. >> is that a valuation call? or is it a call on the upside that you see left in the economy?

or both? >> no, i think valuations are rich right now. that's one of the cons we see in the market right now, the negatives that we see. relative to interest rate, they are tolerable, at least. we are not saying valuations are attra attractive. >> no, but for those sectors. energy, and the ones you mentioned. >> with the economy coming back, the earnings in these sectors are going to rebound coming into 2021 as the economy expands. the economic data we are seeing, even with the uptick in the number of cases that we have seen and this wave reaching really high levels, the economy is holding up relatively well. you know, we are seeing some slackening in the data, but not really a standstill like anything near to what we saw in the spring. so i think when you do have this resiliency already and then a better environment in 2021,

these sectors should benefit. as far as today is concerned, it's interesting to see, i mean, how many times can you rally on the same news? i think this morning was a little bit of an overreaction to -- site. historically december has been a good month for equities. most peep wouldn't know that in the middle of the month on an average basis december's returns are relatively flat. it is a very back-loaded month. i think the end of the month will see strength and the market close off on a positive note for 2020. >> you are underweight tech at the moment. what level of pullback in the nasdaq or the s&p tech sector would get to you change that view? >> it is not necessarily that we think that the group is going to go down. we just think there are other opportunities going forward. if you were to see a pullback of 5, 10% in the technology sector or in the broader market overall -- right now we are of

the approach we would be adding into that weakness if we saw it. >> what about consumer discretionary? what do you like there? there has already been such a strong run for a lot of those names, including amazon and soon to be tesla, which is going to make up a big chunk. >> some of the travel socks, wynn resorts, mgm, those names are going the see increased business. people are looking -- people are going to start traveling. on the business side we are not going to see quite the strength. that's going to take a lot longer to return to normal. but on the personal side and on the consumer side people are going to start -- are itching to get out. when they can, they are going to be traveling. we are going to see, you know, massive travel once the coast is clear. >> paul, it seems fairly consensus now that the dollar weakness will continue and perhaps extend further. how much do the positive calls on the cyclical stocks rely on the dollar weakening further? is there a risk if it plateaus

or just rebounds slightly next year, that some of those cyclical sectors suffer? >> yes, i think if you were to see strength in the dollar, again most of these sectors have a lot of international exposure like you said wilf, so we would tend to see the rally in those names get hampered if we saw a strong dollar. that being said, you know, we think the overall -- the global economy is going to recover as well. i mean, i think we don't necessarily see a really strong dollar in the year ahead here. if the economy comes back strong and the fed remains dovish that's going to be a negative on the dollar. the fed hasn't really said -- has already said they are going to be hesitant to be more aggressive or remove the policy accommodation until we are back at employment levels that we saw prepandemic. i think the fed will be --

people -- at some point we are going to be saying, investors are going to be saying, what is the fed waiting for? it is not going to be a question of why is the fed hiking? it is going to be a matter of they get on the ball. that's for another day. >> we will see if we learn anything more in the fed meeting this week. paul hickey, thanks he. appreciate it. for more trading ideas head over to cnbc.com/pro for a look at six stocks to trade the economic reopening in 2021. good read today. up next, meghan markle making her debut as 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

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from back to frappe, meghan markle has come up with a new investment. i didn't come up to that. just add water. the duchess of sussex said, this is in sue pourt of a passionate female entrepreneur for creating a product that i personally

love. oprah winfrey also posted about it. it's the first investment for meghan, who reportedly plans to do more as a vc. i guess this is their new life, meghan and harry as financial independents. i'm watching "the crown" now and can't wait for the harry and meghan episode. the. >> i say the producers will need a good couple decades to catch up with the present but either way, her endorsement followed by oprah tweet, i'm sure it's made the investment profitable already. >> huge. >> if it were listed, of course, it's not. massive difference. i'm sure we'll see more of this now that they stepped back from their role and all of that complicated stuff, i think they can embrace the private sector. and like this, i'm sure it will be very successful for these types of endorsements. >> well, i'll let you be the royal commentator. that's your expertise. on the oat milk side of things as far as that's concerned, i checked in with nielsen, who

collects data on consumer products, it still continues to be such a hot trend and has really grown during this pandemic. the last 40 weeks, which is the pandemic period e. the gain for oat milk from last year in terms of sales growth up 200%. and it continues every single week. just the latest week up to december 5th, the 135% increase from last year. so this continues to be a massive trend that they are tapping into. >> albeit powdered form sounds like. but there we go. >> powdered latte made with oat milk. >> there we go. after the break, apple's see yourself. welcome back to the mirror. and know you're not alone because this. come on

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don't get mad. get e*trade and get more than just trading. investing. banking. guidance. april, fitness plus, launching today. todd hazleton is here with a review of the platform. todd, before we get to your review, i loved reading it online, congrats. you must have been working out an unbelievable amount in recent months because you seem to review every single instructor on every single platform. >> i try to do a lot. over the past couple months i

put a big focus on my own health, and i got really into the peloton app. i don't have the actual pal aton so this wasn't comparing it to the bike. it was the $12.99 service from peloton that you can access their cycling classes as well as yoga and all other sorts of classes, strength training and stuff like that. so apple has its own version now, a little cheaper at $9.99 a month. i used about 45 classes over the last couple of days and a few short classes to get a feel for the instructors. so it's a good idea, you can do it cycling on your ipad, apple tv, and you have to have a apple watch. it shows you calories you burn during the workout, your ring, exercise burn and other information like music playing, which you can download through apple music. very similar to i guess the peloton april b peloton app but what i thought

was really hard trying to get into the instructors because i got into the peloton instructors recently, and i have a few favorites. so fitness plus, i'm trying to figure out which is my favorite and why. they don't share a lot of information about themselves, as much as they do on pell atan. that was a couple of thoughts i had. >> todd, and i know you and i both like alex crouton. i think we share that after reading your review. i quoted him on the show before and some of his motivational speeches. >> love him. >> to be clear, as far as the pe peloton competitor, you're talking the peloton app, right, without necessarily buying the peloton machine. >> right. >> are there any implications for the machine if you buy the apple fitness app? >> it so i don't think -- peloton did a great job getting people addicted to the machine and they stay with that and like the classes. i think it's sticky. so that's $39 a month, that subscription service aside from the cost of the bike, if you have the bike.

then peloton offers the app for amazon fire tv, ipad, android tablet and so on i was using a regular fitness bike a lot cheaper than a peloton. less cheaper and comparing the two apple fitness plus, which is a lot more similar to that as opposed to the hardware. i think it's smart of apple to get into this market. at the end of the day fitness is great but i think it's really all about apple services, which is up 16% i think in the fourth quarter of this year that is trying to sell more of these including music, new spots, arcade, app store and really about selling more apple watches and its own product. if you look at it the way peloton is, sell you the bike and you get addicted and stay with peloton, apple maybe is elg is you the watch, buy this and recurring revenue from the other services, very similar services, the actual classes themselves, but i don't see apple pulling away from people who open the bike. >> it's a really good review, todd. thanks so much for breaking it down there and do check out

online cnbc.com for todd's comparison. >> thank you. >> so just like 20 seconds left. intraday sell-off we did see, still positive for the nasdaq and russell but only just for the russell. at the session lows essentially for the dow and s&p. >> and we have a big week of catalysts still ahead, including a fed meeting where there's not much action expected but we are expecting them -- the fed to get into a little bit what they might -- how they might do more quantitative easy if necessary or start to pull it back if necessary. that will be one thing, as well as moderna fda meeting. >> log on "the agenda" as always. we're out of time here on "closing bell." "fast money" starts now this is "fast money." tonight's trader lineups. top the on "fast," we're live on the frontlines of the vaccine rollout. fedex and u.p.s. critical to shipping the shots. we'll break down how you can play these names straight ahead. plus, double down on the