healthcare. welcome back, everybody. i'm kelly evans. two hours of trading or less in this very eventful year of the market disney one of the big drivers of the dow's gains this year, especially lately.

and now major disruptions to its theme park businesses. can disney plus continue to drive the company? and 2020 was of a great year for ipos. can you still make money in 2021 "power lunch" starts right now >> in about 20 hours, many people will toast the end of 2020, a trouble year for many years. but the stock up and the nasdaq up a whopping 43% this year. we're turning the page to 2021 what can we look forward to? let's bring in bob pisani. >> you mentioned the s&p up 15%.

take a look here we've to the only two every down years in the last 11 and since 2010, s&p has been up 240% this is one of the great five, six, selven, eight, nine years put together we go into 2021 with almost a perfect -- in fact, it's a little too perfect, record stock prices, record epo influence, they're throwing money at the stock market, record level of margin debt, very high investors optimism this is a sign of real market exuberance right now the question now is not what can go right in 2021 investors should be concerned about what could be wrong. for example, if the democrats win the senate, we could have higher taxes that's an obvious thing we

dealing in the next week or so we could have issues with the vaccine, we kind of know that as well there's concerns about inflation picking up in the second half with spending going on but the trade that would cause the most discomfort to the market is down because with thele markets at these kind of enough highs, bad news is going to move the markets down a lot faster than good news will be moving it up the most important thing for this 2021, the market believes we are going to have one lollapalooza of an earnings rebound. 2019, this is the dollar amount of the s&p earnings. you see that drop to 135 we're anticipating almost a 30% increase in earnings for 2021 and that's nothing the whisper numbers are much higher, 175 or so. this is an awful big rebound the markets are anticipating beginning in the second quarter of this year and it better deliver because the stock market has already got that priced in

kelly and frank, have a happy new year and look forward to working with you, both of you, in 2021. >> happy new year to you as well as investors look ahead to the new year as bob was talking about, will there be a catalyst to push the market to new highs or could there be a big pullback ahead? david, happy enough year, thanks for joining us let's jump right into it everyone is looking for an investment idea for q1 of 2021 what are you bullish about and why? >> there are several places you can put money successfully one are in financials in health care and definitely in emerging markets in mexico, in brazil and in southeast asia. all of these markets are trading well below their highs and represent really the opportunity for investors right now. so a lot of areas of the market that i think are very attractive the biggest thing we want to tell clients is to make sure they are fully invested. with interest rates so low and bonds paying so little, it is important to have a fully invested portfolio at this time.

>> you mentioned financials right off the top here obviously a great december, up 4.5% but they faced a lot of headwinds during the year. what do you see making that an attractive option in q1? is it the buybacks, dividends or other factors? >> if you look at how financials are trading right now, they're about 21% below where they were at the start of the year and if you think about the losses that would have been taken notice last financial crisis, they would have been significant, but in this crisis, very, very much less so. so you think about their reserves, they're going to take large reserves but they're not going to use them. they're going to be able to increase their dividends and do buy backs. so the whole sector i think is going to recover very strongly in 2021. that also includes financials overseas, especially in europe they're all very attractive at this moment in time. >> credit loss is being lower than probably expected another big factor is covid-19 and the pandemic you have two opposing forces

one is the vaccine rollout and the other is the enough strain, the variant. how does that play out in your a investment thesis? q1 >> we spend a lot of time tracking the variants, while we have a new one, it is still responsive to the vaccine itself right now we're looking at how fast the vaccine can get rolled out. if it can get rolled out quickly over the next four to six month, we can see the pandemic end and the beginning of a new economic cycle. this is a very different end of the recession than we saw last time about 15% of the economy is either closed or slow and therefore when that recovers, we're going to see quite a boom in the economy due to financial stimulus and reopening of some of the stocks you're showing here right now with the reopening of these leisure and retail industries, we'll have quite a tail wind, 4.5% to 5%

economic growth in the second half of this year coming up. >> the dollar showing a lot of recent weakness, today hitting lowest levels as of 2018 we have either $600, possibly $2,000 checks coming up. how does that impact your view of the dollar and the broader economy? >> one of. reas -- one of the reasons we like emerging markets is they're going to perform fundamentally and because of the declining dollar the u.s. is borrowing an enormous amount of money but the interest rate differential between the u.s. and foreign markets has gotten very small, meaning in order to attract capital, the dollar has to fall to fund our deficits we think that's going to be a trend all year long in 2021, meaning for u.s. investors, foreign investments are going to perform better because of dollar weakeni weakening. >> really quick before we let you go, a weaker dollar pu we're putting a lot of money in the hands of consumers what dou you see for the consume

discretionary? >> within this last october, we actually exceeded the consumer spending rate we had in december of 2019, which means that people staying at home in the middle of covid were spending more than they were preco individuvid. when we think about that, we think about the stimulus and that will help people stay in their homes and provide a boost to consumer spending when the economy reopens, we'll see quite a tail wind in all consumer sectors and businesses coming back online and reinvesting. this is why we're bullish and we want our clients to be fully invested for 2021. it's not going to be the market average making the difference, it's the sectors of the market that can really outperform in 2021 that we're most excited about. >> chief investment officer of citiprivacy bank, thanks for joining us and best to you

>> thank you >> as we close the books on 2020, the hopes for a new year are tied to a coronavirus vaccine. so far only 2.8 million people have been vaccinated let's bring in kerry sanders for more on the rollout roadblocks what are we learning >> ch. >> reporter: well, if you want to understand, folks watching cnbc will get it better than anybody, it's supply and demand. the cleveland clinic pd they'an they're done, can't take any more appointments. they can't go anymore further because they're waiting for more vaccine to arrive. here in fort lauderdale, broward health, another organization that announced they would start taking people to get the vaccinations was overwhelmed with the response. more than 100,000 phone calls came in, 30,000 emails so many phone calls came in, it crashed the system

they announced they can only now handle 5,000 injections with the supply they have that takes them through the end of february. on florida's west coast in fort myers and lee county, they decided to just open it up and first come first serve if you're 65 or older, you can indeed line up and get it. people are waiting more than eight hours. there's a lot of come plaunplai there. florida has 21 million residents, 20% are 65 and over so you get the idea of why there's so much anxiety to try to get this when it's available, but then geagain it's not available. >> kerry, what changes about this situation in the weeks to come >> reporter: it's really a matter of empowering the local health departments to get the vaccine out to the right people. you gave the numbers at the beginning. why is it that there is so much vaccine that has been shipped

and so little of it has been injected i got to tell you, i've been to some hospitals where i saw health care workers getting injected and i was kind of surprised. i expected it would be a line of people as far as i could see getting the injections there were periods during the day where two or three people came in and got a shot and then like lulled. i don't quite understand that part of it and i think a lot of people are asking the question, why isn't this going on 24 hours around the clock? the agriculture commissioner, a democrat in florida, she sits on the cabinet here, she has now petitioned to governor ron desant desantis, a republican, to get the national guard to clear up this chaotic mess and get them to set up tents and get the right people in place to start giving out shots right now the national guard is activated but they're only dealing with the swabs, not dealing with the injections, which of course right now everybody wants, kelly

>> exactly excellent point. thank you so much for being on the ground kerry sanders for nbc. coming up, despite a major disruption, airbnb went public this month, joining the 70 ipos that have doubled in their debut. and pandemic winner etsy is the second best stock in the s&p this year after tesla. which of the big winners should you stick in into 2021 we're back in a couple

welcome back 2020 was a record year for ipo as u.s. exchanges raised $157 billion for newly public companies. palantir and airbnb up triple digits while wish.com down a couple weeks ago 137 ventures invested. it's great to have you here, justin do you think people should temper their enthusiasm about the ipo market right now, though >> you know, i think that the ipo market is, you know, it's been a much bigger year than any of us would have expected. if you would have asked me in 2019 i wouldn't have told you during a pandemic this number of companies would have gone

public the thing we care about and we're a long-term private market, how do these companies perform over the next five, ten, 20 years and the part that we're excited about about all the experiences you mentioned is we think they're really strong businesses so whether or not, you know, the prices make sense in the public markets at any given moment, i think over time the public markets will figure out how they want to value these businesses. >> is that a polite way of saying you think the markets are kind of in whacky territory given the run-ups we've had in certain individual names and this this melt-up in general >> there are things i don't understand if you look at the relative valuations of things like door dash and uber, they have similar businesses uber has a big food delivery business i can't tell you which price is correct, i can just tell you both of these don't necessarily make sense and it all takes time for are the market to figure this stuff out >> it's an excellent point it like two opposite things can't be true at once.

so that in some ways we have to still shake that out, maybe next year, maybe not. i'm interested in the direct-to-consumer health care play you're interestedin are these ipos that are going to come to the market soon? are they galvanized by some of the 2020 trends we're seeing here why this sbas in particular? >> i think there are a lot of tail winds if you really think about what's happened with the pandemic, it's taken all of these tech friend and just accelerated them. if you look more health care and interactions that are -- and rightfully people don't want to sit in a doctor's office a lot of this can be done with a camera that's on every single person's smartphone and you don't need to go to the doctor in order to get a prescription i think there's a lot of great innovation happening there the pandemic has helped from a regulatory perspective, as

states have become more interested in helping companies, you know, provide virtual and i think these are all good trend accelerated by the pandemic. >> i'm also wondering if this is a moment for a lot of these percolating technologies to really go mainstream, partner with larger providers and that sort of thing. let's talk space because spacex is one of your biggest companies. >> we've been involved with the company since 2008 it's kind of amazing to think about what's changed they've launched the falcon 9, they're building starship right now. i think the part that excites us in terms of the opportunity to

invest in space is they're dropping the cost of launch. but they're launching a satellite constellation that will provide internet service basically anywhere you want in the world and this is very transformational for all of the people who don't live in major, dense, urban areas it's really going to transform people's lives as the internet has become even more important as we've got to work from home and things like that >> on that note i'm also curious because we've seen just how important elon musk is to tesla and the other sort of ventures that he's involved with. up know, what happens -- i mean, we could always ask this question but i guess as tesla becomes more and more important as its success becomes more and more important to the entire investing community, it's now a part of the s&p 500 at an incredible valuation, can he

pull that off while also managing spacex in ways that the investors in that company want him to be closely managing it? >> i think elon has an incredible ability to really just work very hard and juggle an incredible number of things, but you also have to keep in mind that spacex has a fantastic management team. glen chatwell has been there for many years, brent jeffwell is the cfo. these are seasoned ek tifs who have been at that company -- i think brent might be the shortest at eight or nine years. >> let me sneak a final question in here. one of the things we saw with airbnb and doordash, the prices ran up, but only the investors who could get shares had access

temperature does that trouble you? >> i think it's somewhat odd i think that there's a question as to, you know, how do people want to pick the investors that are in the ipo and investors in the company. i think if you look at some of the comments of doordash made, they purposely didn't use price as the only point. people will pick investors they think provide long-term value to the business, not just optimizing on price. there's a lot of volatility on newly public companies that will even itself out as more data comes out with the earnings calls and what not. >> hopefully justin, thanks for all your insight today. >> frank >> for many stocks 2020 was the year to sink or to swim.

some names catapulting to new heights. wills they gains continue to 2021 our traders will pick the number one 2020 winner to keep on riding still ahead, theets are forced to close what can we expect for the entertainment industry next year much more. we'll be right back.

welcome back to " power lunch. i'm eric chemi will a new year bring new leadership you can't help but wonder if 2020 biggest gainers can sustain those roaring rallies, tesla, etsy, nvidia, paypal the top performers doubling and etsy tripling. today we have matt joining us on trading nation what do you think the stocks are that will continue momentum. >> nvidia has gotten very

overbought in late august. rsi charts got up to 85. instead of pulling back, it's seen a nice side ways correction to neutral territory in the middle 50s this one i think is going to have the most up side as we move through 2021 delana, do you like nvidia or is there another stock that you have your eye on >> paypal, i think the digital payment solution continues i also link etsy they're not trying to be amazon, they're looking for customization and they found a niche in that role and it continues to move higher on momentum. >> thank you both for joining me it's the end of the year, the last "trading nation" of the year head to our web site or follow us on twitter j@tradingnation

>> coming up, tv, movies, live events ul aim pacted with-- ally the pandemic and if people were stuck at home this year, packaged food saw mega sales if i country reopens in 2021, will consumers kick the can? all of this when "power lunch" returns. now the latest from trading nation.cnbc.com and a word from our sponsor. stock slices. for as little as $5, now anyone can own companies in the s&p 500, even if their shares cost more.

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welcome back to "power lunch. i'm leslie picker. california is now the third state to hit 25,000 confirmed covid deaths after new york and texas. the national toll will hit

350,000 in the next few days the cdc says you should quarantine for 14 days after close contact with someone who tests positive for covid-19 to increase compliance, however, the agency says those without symptoms can cut that down to ten days without a test or seven days with a negative test. but today the cdc says a new study shows shorter quarantine does have significant risks. it finds a 19% chance of developing symptoms or testing positive after a seven-day quarantine and 7% chance after ten days >> "the wall street journal" reports a lack of federal funding has stalled plans for a large scale study on college campuses that hoped to determine if covid vaccines protect transmission from person to person or just prevent people from getting sick. that would have been a good study to have.

>> ancolleges are the right plae to see it. >> i haven't seen you forever. the dow will end the year higher for the tenth time in the last 12 years the s&p and nasdaq up more than 40% this year, the best for the nasdaq since 2003. and the oil market is closing for the day. let's go over to eric chemi for the latest numbers >> happy new year. crude settling lower today but notching a second straight month of gains it's a quiet end to a tumultuous year for oil with both benchmarks down more than 20% as lockdowns have weighed on demand wti just under $50 a barrel after remember it went negative for the first time ever back in april? not negative anymore while a vaccine is boosting hopes for demand, opec is set to boost output by 500,000 barrels

a day next month kelly, sending it upsfars to tao you. >> with people stuck at home, streaming subscriptions have surged the companies have seen pretty strong returns but as the world starts to open up, will that trend continue here to weigh in on all of this is bob thompson, television, radio and film professor as syracuse university's school of public communications. he is also the director of the school's center for television and pop culture. it's great to have you the big question hanging over the whole industry is is the movie theater coming back in a real way or not here >> well, i don't think it's going to come back the way it was before movie theaters are not going to go away. they survived the onslaught of television back in the 1950s, and if they can survive that is correct they can probably survive anything but the relationship between audiences, studios and theaters, i think, has been changed

forever. we have gotten even in the last ten months much more used to something we were already getting used to, which is having the stuff delivered to us at the convenience of wherever and whenever we want and the technology is such now, relatively inexpensive big screen, high definition televisions, the anlt of those who interact with our on subscription, i think to expect even when theaters reopen and even when g and everything reset in the theet ear area i think is probably being overoptimistic. >> sure. although i think what you're saying, though, is that you're not as pessimistic as some who think we're never going to go back to the movies again >> right i think we should not write off the movie theater. it still has all kinds of -- it serves all kind of appetites

that watching on your laptop or phone or whatever device doesn't have people are still going to want to go out on date, although who knows what the future of dating is going to be that's a whole other conversation but the social aspect of going to a movie, as many directors will point out, it is different being in a dark room with other people and a picture sprawled all over the side of a big wall, it's different than watching it on a device. so i don't think they're going to go away but whether or not we're going to have the kinds of ticket sales and audience numbers that we did even at the beginning of 2020 and whether that's going to be enough to sustain the kind of schedule and releases that hollywood has been putting out i think may be another -- we may have to wait and see about that. >> bob, frank holland here i think you hit on something number one, i'm not going to touch on the future of dating. that's way above my pay grade. but when it comes to tv shows,

especially looking at streaming services, it's just such niche entertainment, shows like "the mandalorian, how do theaters ever compete with that >> what we're seeing now and of course there's all kind of thumping and meshing of teeth about this, streaming and movies were already fwining to meld they've completely blended all through 2021 hbo max, a streaming service, will release all the warner brothers movies. it was going to happen been p b -- anyway, but covid accelerated it but even in 2020, we had the introduction of hbo max, we had the introduction of a peacock,

we had the introduction and the death, the rise and fall of quibi, all of this happened in 2020 and i think a lot of people are figuring out which of these can i live without, how am i going to put together a menu of subscriptions that depend on other people's codes to get the rest of them and to watch all the really good stuff, you need a lot of subscriptions. there's at least one master piece on hulu and netflix and amazon and max and peacock and all of rest. >> do you think disney becomes one of the clear winners of the streaming evolution up there with netflix and who are the others are those spots still open for grabs? >> well, it's beginning to look like it. disney, when they made that announcement last month about their plans, 22 new series, a really ambitious program to increase their inventory and of

course they've got an inventory of disney stuff that goes back centuries with all that -- the original stuff the studio was doing. soy but that's getting to peel off. "the office" which has been one of netflix's greatest draws, an old show that eped in 2013, that's now migrated over to peacock. so, i don't know i remember back in the day when we thought we were going to call this the my space generation look how that turned out >> right speaking of how things, turning out, you haven't seen students since what, march? what happens now i guess we're still in the throes of winter break here but when is campus life getting back to normal?

>> i think this ultimately -- not campus but overall, the biggest story of pop culture on the screen of 2020, forget streaming and the future of the movies where so many of us spent so much time on the screen in 2020 was in fact on zoom. we're doing it right now it's perhaps how we work certainly i taught all my classes on zoom, i saw all my student on zoom. i have not seen one face to face for a long, long time. how we see our family has been done on zoom my thanksgiving was done via a screen sitting just a little to the right of where the turkey was about to be carved even hollywood for that matter responded with shows like "love in the time of corona" and "coastal elites" and "connecting. none of them were very good but the thing we really remember

about 2020 is the stream technology, main we had students on campus but i teach large classes, not putting people in big auditoriums and i see students on screen and, by the way, that's not all bad. i see them closer up than i would in a pick. >> in the lower left-hand corner >> i could see the appeal, when you're trying to figure out who's who year after year after year bob thompson, thanks so much for your time today. we appreciate it bob thompson of syracuse >> thanks, kel >> coming up neck, commodities looking good and feeling good. we'll high lie which are outperforming even the s&p this

year plus a special new year's edition of "power movers." "power lunch" back in two. sales are down from last quarter but we are hoping things will pick up by q3. yeah...uh... doug? sorry about that. umm... what...its...um... 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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welcome back to a special new year's edition of power movers here are the best and work stocks in the dow and s&p. the leading stock in the dow, apple. trimming $2 million in market cap in august. boeing down more than 30% as it continues to face issues with its groundings and trouble in the airline industry the company getting good news after finally relaunching the 737 max. >> over in the s&p, tesla dominating, up more than 7%. the new kid on the block turning prafts despite the pandemic squeeze and driving the s&p is carnival as trues are being hit hard during pandemic >> let's go over to the bond market where rick santelli is tracking action out of the cme this afternoon rick >> thankfully the only market left in the states that are open are the equity markets

if you look at a chart going back to the 23rd, that's the last time we were trading these yields and. though we're only down a couple, it because we've been so tight lately with regard to ranges down a little over 50% not a great year if you were of course looking for higher rates. and when you switch gears, foreign exchange intra dollar index we're having a small bounce today. i know we'll be talking about kped tease and ands that the last time we were tracking these extremes, whether it the dollar index on the low side or other currencies like the euro or. >> rick, what about the kmo. >> i'll tell you what, it really

is amazing my futures closed up again for the 14th straight session up it is straight up chart. so corn and beans are at since-year highs and today in particular south america's been having some dry weather issues so argentina, big exporter of corn and beans is curtailing some of those export numbers and that helped but that's not the on thing think energy reserve currency but the das oej was strong in may. you want to know why because american were drinking a lot of oncht j. hoping it would affect their immunity system >> happy up in year to you, kelly, and your family >> you, too, rick. thank you so, so much. rick santelli.

>> for many people, this year marked a new normal of being suck inside. red what do you do when you're bod? shop online for a lot of folks how are retailers the bond report is brought to you by:

sfwlchblt well commonwealth bact down physical stores some names benefitting from the surge in online sales but they had to find new ways to keep up with that demand. >> global companies spenter inially $6 billion last year to competent grate robots into supply chains. that is expected to increase to $22 billion over the next two years according to the international federation of row battics as on line orders surged during the coronavirus pandemic. robots giving human workers a hand at picking on line orders it is the new trend as the companies adjusted to on line orders increasing by 60%

>> people are the backbone of what we do but where we can use roboroboti we can redeploy that labor. >> the use of robotics and logistics is projected to increase 300% in 2021. major retailers such as amazon, walmart, alibaba, and jp.com already use them. >> with the adoption of technologies like these e-commerce fulfillment is disastrous. >> kindred builds robots he says the combination of robotics and artificial intelligence will have robots like these doing more and more but for the foreseeable future the human touch is still needed. >> the entire process is far

away from being fully automated. we see humans in the loop for a long, long time. >> today only billion 5% of logistics in e-commerce transactions are fulfilled using robotics due largely to the pandemic e-commerce sales increased so much and the need for e-commerce efficiency is expected to only increase so is the use of robots in retail. >> frank, i don't know if you have had the same experience as me but i have got my neighbors texting me right now because they have to re-send a christmas gift for the kids that was lost by amazon. we have got packaging showing up here that look like they have been through a war if they show up at all. it has been a challenging year for mail and package delivery. >> absolutely, you could have saved the hassle and give out gift cards like i do i don't try anymore, just giving out gift cards

the industry is at or maxed out on capacity. when you add the vaccine, it is becoming harder and harder for the carriers to keep up into absolutely i am not trying to get in their way either you go first, you get the fast lane. still ahead even with the huge command for packaged foods amidst the pandemic stocks for e e sector are ending mostly in thred. what happens for these names as the country reopens in 2021. as a reminer, you can always watch or listen to us live on the go using the cnbc app. we are back in a couple. change is all around us. shaped by technology and human ingenuity, we can make it work for you and your business.

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2020 was the year we all learned about a new term called pantry loading as people stayed home and stocked up. krafts hines, mond lease and general mills underperformed, only up 10% since the beginning of this year with us to discuss is john balm gardner of wells fargo happy new year let's jump into it you have lofty price targets for mondelez, for kraft heinz, a bullish outlook for simply foods that puts out healthy snacks going into q 1 with the vaccine and the new coronavirus variant where do you see pantry loading and people stocking up on

snacks. >> we had so much demand throughout the year there is not a lot in terms of pantry at this time we think the biggest issue for tri is weak sentiment across the board. i don't think they have recovered from cost cuttingi three to five years ago. you see it in valuations where food stocks trade at a 30% discount relative to household products and beverages twice the typical valuation growth there is low expectations for growth in 2021 and 2022. low valuation. right now is a really good time to look at the food stocks in terms of total returns n. terms of the snack space, we like this space quite a bit. we think looking at especially in the u.s. we think healthy snacking is the way to go. looking at the cdc modelling 40% of u.s. consumers being obese, now even with covid the worst outcomes for folks are those with diabetes and obesity.

a big focus going forward might be sugar reduction much like tobacco has been a focus the last 20 years, we think sugar will be next makers of atkins, quest nutrition, a lot of runway for growth there on the indulgence side, i not going away either. mond lease, global leader in that space we like the opportunity to grow globally there as well. >> i don't think people are giving up oreos any time soon. expectations is the word that you use. before april, what kind of comps do you think you will see for the stocks is 7% growth good for the sector >> historically it gross, population growth is up 1 to 2%. year the date, up 10, 12%.

our expectation is until you lala the pantry stocking we saw in march we will continue to see high single digit revenue growth we think it will be flat march, april. they are sewing low valuations low expectations going forward post covid we think some of the shorter term money, there is going to be a waiting period until after those hard comp cycle in march and april for some of the short-term money to get back involved in the space. >> low sugar, low calorie, i think you might be speaking for yourself i am going for some oreos as soon as i get out of here. happy new year. >> thank you. kelly? >> let's get a quick check on the markets before we go here. again, capping off a wild year with a tight range

hanging on to a quarter of a percent gain for the dow and the s&p. tesla is best. second best is pell on the, 400% i surprising i thought people would get on theist craze at first but then get tired of working out at home but they are not. >> i agree the staying power is better than expected got to burn off all the oreos. happy new year's eve and happy new year to everybody. "closing bell" begins right now. >> happy new year. >> welcome to "closing bell. i'm sara eisen aling with wilfred frost. the s&p and dow higher with one hour left in the day, the week, in the trading year. a slightly better than expectedid read on weekly jobless claims though millions remain unemployed. bitcoin hovering around record highs, gold having its best