pro-fit. we've signed up nearly 100 new members. we've hired yoga and spin instructors that are teaching classes throughout the day. michael and tina have been able to strengthen their relationship and are now looking forward to the future. >> oh, my gosh. >> i can't believe it! it is 5:00 a.m. at cnbc global head quart ertz stocks xweerg gearing up for thl week of 2020 looking to build on record highs president trump pulling a u-turn, signing off on the funding bill after days of blocking it. shares of alibaba under pressure, and bit koipoi bitcoi new hires and ipos and spax.

we talked to an investor and some of 2020's biggest trading debuts it is monday, december 28th. you're watching "worldwide exchange" on cnbc. ♪ good morning i'm seema mody in for brian sullivan hope everyone had a great and festive christmas. here's how money and global markets are setting up the day the last week of 2020 and futures pointing to a higher open on the news of the stimulus bill dow jones up 1635, nas cac up 76 and the s&p 500 a higher open by 25 points. this after a relatively muted week amid this christmas holiday. the dow and nasdaq eeking out slight gains the s&p 500 wrapped up the week with a slight loss the russell 2000 small cap index climbing more than 1.5%, the eighth straight week of gains, it's the longest weekly winning

streak since february of 2019. with four days left in the year the nasdaq on pace to be the winning index up more than 42%, vastly outpurchasing the dow and s&p which are higher for the year by around 6% and 15% respectively also want to check in on the price of bitcoin it continues its record run. it's currently sitting at 26,804, after topping 20,000 over the weekend certainly got a lot of attention from family members at the dinner table and also breaking through a number of record highs throughout this week, throughout the last week. we'll dig into that topic in a little bit let's go worldwide, stocks in asia kicking off mostly in positive territory we see japan closing out the day higher by 0.75%. the hang seng finishing the day lower around 0.25% in europe, we've got a new high, the german dax seeing an early

trade around 1.4% on news of the stimulus bill passed in the u.s. and the brexit deal moving forward. spain, italy and france all in the green. now turning to today's top morning stories, more on the sharp drin in allecline in al ea shares bertha coombs, good morning. >> good morning. shares of alibaba plunging 8% coming on the heels of last week's losses after chinese regulators ordered alibaba affiliated ant group to rectify its businesses and comply with regulatory requirements following a weekend meeting with execs. the demand comes as antgroup faces accusations of monopolistic sectors the uk is expected to roll out the astrazeneca oxford

university vaccine to the public there next week. according to reports, the government hopes to give out the first doses of that treatment starting january 4th, to 2 million people over the first two weeks. that vaccine is expected to get the green light from medical regulators there in the coming days back in this country, dr. anthony fauci is warning that travel amid the christmas holiday could push the u.s. to a critical point fauci making those comments yesterday, despite travel warnings, nearly 10 million americans flew over the past ten days which could lead to a new surge in cases at least that's the fear as of yesterday, the number of covid-19 cases in the u.s. topped 19 million, as the death toll from the disease surpassed 333,000. even in the midst of the hopes of the vaccine, seema, the numbers are just daunting. >> bertha, thank you so much see you later in the show.

back to the markets now, it has been a solid year for stocks and returns for investors in 2020, but will these gains hold up into the new year as part of our cnbc quarterly stock report, we asked investors where they believe the00will be at the end of 2021, more than two-thirds predict the dow will hit 35,000, which would only be an increase of about 2%. head to cnbc.com to check out the rest of the survey, for more insight, gina sanchez, great to see you this morning i want to dig into the results of this survey you have president trump averting a government shutdown signing that covid relief bill more news around this vaccine rollout, and nearly every wall street economist expecting an economic rebound next year is all the good newsed being priced into this market? >> that's what that survey is telling you, matches our estimations, our estimations are a little lower, predicting a flat market for 2021 and part of

that is that parts of the stock market had just been absolutely extraordinary, certain tech plays that have just assumed an extrapolation of current trends that we don't think is sustainable, whereas other parts of the market have just been absolutely decimated and i think there's going to be a rebalancing within the stock market so there will be a lot of stock picking opportunities and a lot of sector picking opportunities but on the whole, we expect that we will have a flat year. >> let's talk about that you say it's going to be a stock picker's market. would you expect the underperforming sectors that were left behind in this market recovery to start to outperform next year or do you stick with the winners, technology of course being one of them >> well, some of what the pandemic taught us was that it hastened trends that were already under way and it might have taken several years, if not an entire decade to really take hold the sort of common acceptance of

remote working, which was really not as accepted, now it's very well accepted. i think there are many workers that are ready to go back to the office, but by the same token, you probably will see continued -- i don't think zoom is going away for example and i think microsoft will continue to benefit from all of the investments that they have making in this area, and so i think there are definitely areas where you will see continued support and trends that were going into, you know, we talk about this as if it were a short term event it wasn't short term it was really an intermediate term event at the end of the day, we are starting to see the end of it and i this i that many of the trends going into this will reassert themselves. >> i went back and watched one of our segments from "trading nation" gina, in september, you had recommended looking at the reopening trade travel, casinos, entertainment, media names like disney and if you look at the three sectors they are up

significantly over the last eight weeks. do you think investors should start to look seriously at these sectors if they're not already invested in these industries that could potentially see a rebound next year as the consumer gets out there, get the vaccine and feel more comfortable getting back on the road >> yes, i actually do. i really believe that there's a tremendous amount of pent up demand people have cabin fever like crazy, seema and the numbers from this past week are a testament to sort of how frustrated people are at being separated from their families, being separated socially distant from their friends just the ability to go out and spend in shopping malls, the retail trade, the ability to travel, and be somewhere else other than your home, that travel trade i think still has a long way to go and for those people for whom this pandemic was not a disaster for their sort of employment and personal income there is a tremendous amount of pent up demand >> we'll see how that plays out next year.

gina, thank you for your insight today. gina sanchez >> thank you and now to that developing story surrounding the fight over the covid relief bill and gft fundi g government funding chris pollone joins us with the latest >> president trump continues to push to raise the direct cash payments from $600 to $2,000 there's a vote in the house of representatives on that very measure later on today, but it's a move many republicans oppose after a week of complaints about the $2.3 trillion bipartisan spending bill and covid relief package, posting on twitter -- >> it really is a disgrace >> reporter: president trump signed the bill sunday night, includes $900 billion in covid relief money and funds the government in the next fiscal year the president said "i'm

assigning this to restore and prevent evictions. after promises stimulus payments would go out this week, it's unclear when people will see that money in their bank accounts democratic house majority leader steny hoyer said the president has resolved an unnecessary crisis he himself created. president still backing an effort to raise thosepayments to $2,000 for adults and $600 for children democrats support it minority leader chuck schumer on twitter daring republicans to object the house will vote on it today. >> i don't agree with $2,000 checks to people who had no lost income whatsoever, the vast majority of americans. >> reporter: the law provides $8 billion for coronavirus vaccine distribution and so far no official reaction from president-elect joe biden, though we expect to hear from him after he gets a briefing later on today seema? >> we'll look for that as well

as what mitch mcconnell will have to say later today as well. chris, thank you >> reporter: thank you details on the new hire by amazon with close ties to the incoming biden administration and the questions being raised plus the fresh challenges facing the u.s. as the rollout of the covid vaccine continues and a strong opening for "wonder woman 1984." a busy hour still ahead when "worldwide exchae"etnsng rur ♪ you can go your own way

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welcome back amazon has tapped the brother of one of president-elect joe biden's closest advisers to help with its lobbying efforts, raising new questions about potential conflicts of interests with the incoming administration brian schwartz has a new report and joins us now really interesting story what does the new lobbyist for amazon mean for the company going forward? >> great to see you, thanks for having me. what this means is this is a big hire because jeff reschetti is the brother of steve reschetti, joe biden's white house chief counselor. clearly amazon one of the big tech companies we know under scrutiny for a while is looking to get access to the new administration and they've had similar themes over the years with the trump administration as well, tried to pick up and recruit lobbyists close to the president and his allies and now

amazon has hired, the big get the other day, rechetti who has direct ties to joe biden's closest advisers so clearly amazon looking to get access early as president-elect biden moves into the white house >> as we examine the lobbyists at every tech company, they're arming themselves with the expectation there's going to be more scrutiny. how are the rechetti brothers going to handle this >> steve and jeff rechetti do not interact and jeff will not be lobbying his brother but that's not what ethics attorneys are too concerned about. they're concerned about will jeff rechetti get access to the white house. the answer isn't clear how that's going to be handled

jeff rechetti, people around him said he's not going to be lobbying his brother but the same people did not rule out that he will be interacting and reaching out on behalf of amazon and many other clients, keep in mind, to the white house itself. so you have to keep that in mind have to keep an eye on that as this goes forward because there's a lot of question marks how steve rechetti and the administration will handle this if a brother of a key adviser of joe biden's is going around trying to influence things for amazon and anyone else who wants the work >> a controversial hire. any response so far from amazon, brian? >> nothing so far. they've been very, very quiet and that's not too much of a surprise they like to do things behind the scenes regarding lobbying as do many of the other big tech companies, facebook, google but you know, that's interesting in itself i think you're going to see two

different themes here. one, amazon, facebook, google and other big tech groups hiring similar lobbyists, and then you're going to see also lobbyists like jeff rechetti, before the end of this election and as we got into the time where we are now having president-elect joe biden, jeff rechetti didn't have big clients. we a few here and thereslo ly gained more and more at the tail end of the election and president-elect biden beating president trump. one other key interesting thing here as well lobbyists gaining new businesses and amazon and big tech pushing back as well >> fascinating story and a great scoop. brian, thank you brian schwartz of cnbc.com check out the full story online right now. back to the market, a record year for renewable energy stocks what wall street insiders see

for the sector, headed into 2021 >> announcer: today's big numbers, 61%, the increase in luxury home sales nationwide september through december usheamti last year

♪ let's get a check on this morning's other headlines. nbc's philip manna in new york with the latest. >> seema, good morning we're learning more about the chris mass day explosion that rocked nashville three days after the incident which left three injured and dozens of buildings damaged, authorities know who is responsible. police have identified 63-year-old anthony quinn warner as the suspect investigators say warner died in the blast and acted alone. there's still no word on a possible hoeive. just in time to celebrate new year's eve, lori loughlin is scheduled to be released fromrieson "the full house" actress was serving a sentence in the college admissions scandal her husband, mass i mow giannulli is scheduled to be released in april of next year with 2021 days away, the iconic crystal ball, 192

waterford crystal triangle also decorate the 12 football in the new design called the gift of happiness. this year's event will not include packed new york streets due to the pandemic. seema, back to you >> new years eve will rock in times square even without a live audience thank you. ahead thee latest on the covid-19 fight watch our listen to us on the cnbc app "worldwide exchange" is back in a moment save hundreds on your wireless bill

without even leaving your house. just keep your phone and switch to xfinity mobile. you can get it by ordering a free sim card online. once you activate, you'll only have to pay for the data you need starting at just $15 a month. there are no term contracts, no activation fees, and no credit check on the first two lines. get a $50 prepaid card when you switch. nationwide 5g is now included. switch and save hundreds. xfinity mobile.

president trump reversing course on his bid to block a bipartisan virus aid and government funding package the latest on the last-minute decision that move by the president helping to boost futures at this hour, stocks gearing up for the final trading week of 2020 and this year, proving to be a blockbuster year for ipos. we'll talk to an insider on some of the biggest names that made their trading debuts and what it could mean for 2021. you're watching "worldwide exchange" on cnbc. it is monday, december 28th. ♪ welcome back i'm seemo mody in for brian sullivan here is how your money and investments look right now as

we're half way through the 5:00 a.m. hour. futures are telegraphing a strong open with the dow up 163 points and nasdaq up 77, and the s&p 500 higher by around 24 points this after president trump's reversal on signing off on virus aid and government funding more on that in a moment but how do stocks wrap up last week? the dow and nasdaq eeking out slight gains and the s&p 500 a slight loss but the big winner was the russell 2000, climbing more than 1.5% the eighth straight week of gains, that is the longest weekly winning streak since february of 2019 at this hour, we are also watching shares of alibaba, big mover here falling nearly 8% in overseas trade after chinese regulators ordered alibaba affiliated antgroup to rectify its business and comply with regulatory requirements following a weekend meeting with company executives that just comes amid growing pressure on

founder jack ma, a stand offbetween the government and jack ma, shares down trading at $210 a share now to the developing story out of washington in an 11th hour move president trump signing the bill that funds the government and extends covid relief to millions of americans and struggling businesses. diana olick joins us with the latest diana, good morning. >> good morning, seema after leaving americans and the economy hanging in the balance over christmas, president trump finally ended the showdown with his own party and signed the bill the news came in a tweet around 6:00 last night. "good news on covid relief bill, information to follow. the hangup had been over checks to those making up to $75,000 a year the agreement was $600, but in a shocking break with his chief negotiator, treasury secretary mnuchin, last tuesday, after the bill was passed, trump demanded $2,000 checks. there will be a vote today on that increase in the house and then the senate could consider

it tuesday, but there is no guarantee. in a statement last night, the president wrote "i have told congress that i want far less wasteful spending and more money going to the american people in the form of $2,000 checks per adult and $600 per child." so now the government does not shut down at midnight tonight. 14 million americans will get extended unemployment benefits, those benefits ended saturday, so there will likely be a delay. small business also get relief and the eviction moratorium for renters imposed by the centers for disease control will be extended to the end of january and $25 billion will go towards rent relief for both tenants and landlords. early sunday evening a bipartisan group of lawmakers, the same who got stimulus negotiations back on track after the election, had called on the president to sign the bill seema? >> stimulus bill touches all aspects of the economy, even housing. how important was it to get this bill signed before the end of

the year for renters, especially >> it was absolutely critical. you are looking at potentially 19 million people in 8.5 million renter households who could have faced eviction starting friday in t the $25 billion is critical for landlords also many of them are having trouble paying their mortgages on these homes because they're not getting their own income, so getting that relief to renters and landlords was absolutely critical to the market, to the wider housing market as well >> seems to be having an impact on the market with futures higher at this hour. diana, thank you diana olick in washington, d.c the european union the latest part of the world to begin vaccinations following the united states and the united kingdom but getting the vaccine to other parts of the world may prove to be more difficult high income countries have already reserved $9 billion of the estimated $12 billion doses expected to be produced next year and logistical challenges

regardi ing shipping and cold storage could add another hurd toll distributing the vaccine to south asia and africa. with more, we're joined by silva in a and william hazeltine, chairman and president of the access health international. sylvana you manage health care in bangladesh. what are some of the pressing concerns, the challenges you're seeing on the ground there >> i think one of the issues that we're facing is certainly trust. i think this is something we're seeing developing in emerging economies alike. in the u.s. you're seeing mistrust caused by history of injustice in disadvantaged and minority communities and exacerbated in low and middle income countries like bangladesh more people are dying due to lack of access to quality health care than lack of access alone 10% of drugs on the market that

are counterfeit and during covid, we've seen private hospitals charging patients for covid tests that were never properly processed, all of this mistrust is leading into vaccine distribution and it's a challenge that we're preparing ourselves, but the bigger challenge to be honest is that we don't really have any information regarding when the vaccines will be rolled out. >> dr. hazeltine, you heard sylvana, misinformation and lack of trust you're concerned about the lack of industrial freezers, cold storage options for many of the emerging and frontier economies have that budgets already hurt by covid how does that make the vaccine rollout more difficult in those countries? >> well the whole aspect of medical services in countries with limited resources is very serious problem and it's particularly true for high-tech medical interventions because they just don't have the infrastructure that's true for these vaccines

i call the american vaccines the moderna and pfizer vaccines the lamb gore geenie ilamborghinis we need a toyota, something much more robust that can be used in many different circumstances it's not just the cold chain that is a big problem. where are the vaccines developed? there are different types that don't rely on such high-tech technology a number of countries have, india, china for example, russia for example, and even the uk developed vaccines that are far more robust using much older technologies, and those technologies may work. the unfortunate part is right now, we don't know but there's something i'd like everybody to keep in mind. this virus jumps borders what happens in one country doesn't stay in one country. look at the problem right now the resistant, pu the variants

more transmissible may start in south africa or the uk they tone' end there until this world is free from covid, everybody is at risk for covid, vaccination or not because this virus may be able to get around our vaccines like flu does >> it's a good point some estimates from goldman sachs don't expect frontier markets, even bangladesh to get fully vaccinated until end of 2021 or even 2022. >> absolutely. it's really troubling to see the vaccine rollout globally as you mentioned at the beginning of the segment, we have wealthy countries using their purchasing power to secure vaccine doses early and we have global mechanisms like covax formed created to ensure equitable distribution of the vaccine. the jury is outen the success of the initiatives. covax secured less than 5 billion of the targeted $38

billion u.s. and it's very problematic echoing what dr. hazeltine said the vaccine conundrum treated one of purchasing power when we live in an interconnected world. a year ago, we had never heard of covid-19 and the virus was isolated to a far off city in wuhan, china, and yet for most of this year, the entire world has been held hostage to this invisible enemy. we have got to come together as a global community to figure out how we're going to contain the virus in every country at scale, until we do that, we can't be sure about the future. >> in south asia, bill, which vaccine do you think those countries will go with i imagine the pfizer vaccine won't to well with a combination of tropical temperatures, lack of infrastructure and the china vaccine seems to be gaining ground there >> i think it's not going to be a matter of what country eight going to be a matter of what vaccine at what price and

also an issue of price there are countries, big international vaccine efforts that have been under way for a long time. the gates foundation funded many of these there are major international programs to develop the vaccines and distribute them as sunha mentioned and we're really at a point where we know how to do it the problem is, will we be doing it and how fast will we be doing it for this? this is not just a question of health it's a question of economies because economies as we know are suffering from this disease as much as people are, and when the economies suffer, everybody, infected or not, is affected by this pandemic, and so it's really vital that we focus now, that we have these vaccines, not just on the vulnerable people in our own societies but the vulnerable nations around the world, in our own interest and for humanitarian interests >> sylvana, what do you hear

from the government and bangladesh and other south asian countries you represent? they don't have the same cold temperature requirements >> to be honest we haven't heard from our government on the china vaccine and you know, we really don't have clarity i have to say and echo dr. hazeltine's comments we need to come together for our health workers globally who are creating the backbone of the economy. it's been heartening to see on social media feed in the last couple of weeks, friends and colleagues of the u.s. and europe getting vaccinated. it's a moment of hope for all of us in the world of course. i have no insight, however, into when my health workers in bangladesh are going to be vaccinated we need to think about that for a specific global community as we reopen the economy. >> thank you for your time today, important part of the story that i don't think we're covering enough of >> thank you for having us coming up on the show, renewable energy stocks soaring

in 2020. we lay out the big winners and who can keep the momentum going. first, some of your other top stories "wonder woman 1984" seeing the biggest box office opening for a film released during the pandemic, pulling in $16.7 million domestically at&t says nearly of its 3.6 million hbo max subscribers view the film krils mass day. boeing 737 max jet is preparing to return to the skies this week with paying passengers american airlines will become the first u.s. carrier to resume flights with the plane starting tomorrow flights between miami and new york's laguardia air the 2020 proving to be a big year for zoom's ceo's network. the success of the company and stock amid continued virus restrictions pushed his worth to $17 billion. that's your big stat of the day. "worldwide exchange" we're back in a moment.

in the year that's seen its fair share of winners and losers, renewable energy stocks have been on a tear. invesco solar etf attracts the largest companies involved with solar power surged more than 230% this year compared to the s&p 500's modest dpgain of 15%. pippa stephens is here with more what is behind the big rally i imagine it's joe biden agenda.

>> seema, good morning yes, the numbers are eye-popping and four key factors driving the surge in clean energy. the first is economics we've seen the cost of solar decline more than 70% over the last decade, meaning that it's now competitive if not cheaper than natural gas or coal power in many places so while the industry might have once been driven by eco-conscious consumers, it's now driven by economics. esg investing playing a role we've seen enormous momentum behind the esg strategy. not just a bull market phenomenon investors are prioritizing companies that factor in environmental and social governance factors joe biden certainly a key driver here the stocks have done very well under the trump administration but there's a lot of optimism looking forward about what president-elect joe biden will mean for the industry. he's made climate change one of his priorities, so there's

certainly a lot of optimism about what we will mean for greater adoption of renewable energy and climate change. our grid is no match for wildfires, no match for hurricanes and flooding, so people are turning toward renewable energy for more resiliency >> would you factor china into the story, pippa, and what can the biden administration do to incentivize more companies to buy solar panels and invest in solar panels here in the u.s., most of the solar panels that we buy right now are from china, as well as batteries as well. >> yes, certainly. there's a lot of initiatives on the ground for more r&d in the u.s. to make u.s. manufacturers more competitive to ease back on some tariffs that would see greater production here on the ground in the u.s. but the u.s. is leading the charge in research and development. we've seen a lot of initiatives on energy storage, which is of course the key factor that gives us renewable energy becoming more widespread, because of

course it is intermittent power source so energy source is a key initiative and in the stimulus bill passed this morning by trump, one of the outlined parameters does give some funds to greater r&d and so investors are baking into optimism around stocks. >> what are some of the biggest beneficiarie beneficiaries? >> so far this year, we've seen stocks like sunpower and solar edge, who makes microinverters up more than 500%. fuel cell companies, plug power up more than 1,000% this year and of course tesla obviously an investor favorite up nearly 700% and nio shares gained more than 1,000% giving the record run this year, there are some calls the sector might have seen its valuation stretch a little bit too far but analysts say there still is upside ahead for some key stocks

so sunrise is the largest residential solar play investors are liking that one and candid armstrong which finances clean energy projects and analysts say that saving energy is a good bet >> pippa stevens shining light on the solar and clean energy trade. thank you for joining us today its bebeen a wild year for venture capital and private equities with huge ups and downs, blockbuster ipos and a lot of spax. they topped the record set in 2018 and defying the odds amid the pandemic will the level of activity hold up in 2021 joining me is head of research in manhattan partners. great to have you on >> good morning. >> you were invested in doordash and airbnb before they went public since going public they lost a bit of momentum. how do you think these two specific names will do next year >> i think these two companies

really represent some transformational services out this they will come back. there will be volatility they need to settle in but underneath them there is a nice tailwind people want their services especially airbnb in this market, the market pretty much came to them, the pan demme ide helped them and doordash logistics is a big part of our lives going forward even after the pandemic i think they will stay these two will come and need to introinto the valuation. yes some adjustment. how the first quarter reports come out but overall, i think they're good companies and they need to really adjust and we've seen that with other portfolio companies also >> the first pop we saw in airbnb and doordash, wow this generated so much of a conversation around whether the bankers did price these ipos

right. i'm curious where you stand on that argument, and if there is something to be said about whether spax and direct listings will do well next year, when clearly companies can do quite well going just the general route of an ipo. >> this year has been unusual in terms of the broader regional participation, the fear of missing out, the hunt for yields, so everyone's kind of rushing in to these companies, so price discovery has been difficult and that's been an age-old argument of ipos, difficult to get the price and so much volatility overall, direct listing especially the new iteration of that is net additive to the whole process. it's going to bring some efficiency to the exit process, companies have three avenues to come out so i think what it's going to do is essentially streamline the ishlgspo process shorten the time to market and improve that net overall, yes, airbnb and

doordash were big exceptions, and this market everything is up more than expected, but i think overall these three things will moderate as we go forward. >> the ability for the venture capital firms to raise a lot of money on the sidelines, new funds coming to market do you expect that story to continue next year or what could go wrong >> absolutely. i think at this point, i think what the pandemic has shown is that there's a growing or deeper penetration of number of transformational technologies and services so i think when you see a number of companies on the private market and from our vantage point we see them coming to market also, there is demand for them so you will continue to see ipo activity, robust activity in 2021, maybe the size of the deals may be smaller, airbnb and doordash big but i think the number of deals will still be big and across the verticals, you'll see cloud computing, cloud security,

logistics, education technology, and digital payments across the verticals, so i think these are long-term sec tar trends you will see and a number of companies playing in that space you'll see them coming to market next year. the activity in '21 we expect that from our vantage point. >> one thing we are expecting to go public is coin based the cryptocurrency platform, it has a private valuation reportedly of $1 billion. i'm curious whether you think an ipo could legitize cryptocurrencies, if at all, next year? >> yes, i think it's moving towards that let's see, i think coin base has become the posterchild for the cryptocurrencies and bitcoins and the whole space. they are the best of breed in that category so it makes sense for them to come out at this point. they're just at the right place, so you might as well, while there is good momentum and growing recognition they have people's attention, the mind

share and everything going on. i think they'll do well. see where the valuation comes out in the end but generally we expect it to be well received in the market given the tailwind behind them. >> certainly has a lot of momentum, bitcoin breaking above 20,000 over the weekend. santosh, thank you for joining us today >> thank you on deck, stocks set to kick off the last trading week of the year on a high note. lee baker is standing by with the moves you need to make in the final days of 2020 "worldwide exchange" will be right back

i want to get your reaction to the results of the cnbc report that investors are perhaps thinking about looking beyond the traditional areas to invest in spax and other currencies as well >> those results aren't too surprising i've gotten a few phone calls through the holidays about bitcoin. four years ago the last time bitcoin got up around 18,000, so it's not surprising to me. people get really excited and want to have that fun thing to think about the unusual thing that gives them a big pop. that's not a surprise in the survey results >> there are questions unanswered, taxes, how high will the tax rate go up, when will

consumers feel comfortable getting back out there and what does that really mean for earnings growth and comparables with zoom and netflix seeing a big surge in their subscriber base but that we're not sure if that will continue into next year what do you think the biggest question is hanging over this market >> i think all of those things that you mentioned are really big questions one following the vaccine, i think we'll have some unseen results across the globe. adoption and the number and quantity of people actually getting the vaccine here in the u.s. as opposed to other countries around the world i think will be different. as a result i think we'll have more of an uneven return to what we knew as normal and i think the plays if you will that about l benefit from us getting the vaccine and going back to normal will get delayed i expect that to happen after the summer so looking at third

quarter. as it relates to value plays that might seem boring after we had years like 700% return for tesla, there are a lot of good opportunities and call it the old-fashioned stuff and some people might get upset with the idea of you know, making a 15% to 20% return but that's too bad in my book >> you sort of alluded to this, emerging markets are trading at record high territory. we had a segment on "worldwide exchange" talking about the challenges many emerging and frontier markets are facing in distributing this vaccine due to infrastructure concerns, tropical temperatures which makes storage of this vaccine much more difficult. how could that complicate this world's ability to evad waradice covid and does that make sense >> the distribution issue will be incredibly difficult. your earlier guests indicated the drugs we have for the united

states being sort of a la lamborghini of drugs we need a toyota vaccine for around the world that being said the global economy will pull out of this recession and i think some of the normal winners as a result of when that happens will continue to be winners, and so as we get back here in the u.s., and other developed markets and begin to use more fuel, for example, as we travel and do those sorts of things, the emerging market countries that are heavily energy dependent, energy producers i think they'll benefit. some of the old-fashioned cyclical plays, countries able to produce what's needed for the consumer economies, i think they will benefit, even though somewhat more unevenly as a result of the vaccine distribution >> and talking about china for a second, we thought they were hard on u.s. companies, taking aim at their own, alibaba, ant financial, curious what you make of this, with alibaba shares down about 8%?

>> you know t is interesting here the u.s. we tend to have a view of china again as you say being hard on us it's interesting to see china react in a way we might tend to think of as normal a bad actor so to speak having the governmental regulators come down on them and impact them in a harsh manner i look at that long-term as a good sign, maybe that's applicator china is moving in an area more similar to what we're typically accustomed to and as we look to new biden administration, how does the world react to somewhat normalized interactions with each other around the globe. >> so quickly, buy, sell, or hold this stock right here >> i'm sorry, which stock that >> alibaba >> alibaba, ooh, hold. >> we'll keep it there lee, thank you thanks for joining us, lee baker. >> happy to be with you.

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overnight. it is monday, december 28th, 2020 and "squawk box" begins right now. ♪ >> good morning and welcome to "squawk box" here on cnbc. i'm melissa lee along with jk jk a joer can n er cakernan and mike. the dow jones looking to add about 170 the at open, s&p looks to be up by 26, nasdaq looking to be up by 83 treasury yields edging a little bit higher look at the ten-year yield, 0.955% with the two-year note at 0.125. markets are closed in london, canada and australia in observance of boxing day look at the picture in europe. the dax up by 1.5%, a record