good afternoon, everybody. welcome to power lunch i'm tyler mathisen, along with kellya evans

record high stock prices to the rollout to the two key senate seats up for grabs down in georgia today. we will dig in what could derail the rally that has been so powerful lately. plus speaking of high-flying stocks, netflix is up 60% in the past year. but one top analyst says as the streaming wars heat up, three key things are driving subscribers away from netflix and that analyst will join us. and later auto sales for 2020, they're expected to come in at the lowest level since 2012. we will talk to the ceo of group one automotive about the road ahead. "power lunch" starts right now >> thank you, tyler. hi, everybody. stocks with the small rebound today after yesterday's big declines it seems the risks are mostly piling up to the down side let's go to bob pisani for more.

>> this is what's so frustrating for investors in this market no follow-through at all we had a modest sell off yesterday. we twisted ourselves into pretzels trying to explain what was going on and now it's like nothing happened yesterday this is like the reopening story again here energy big, of course you heard about what's going on with the saudi production cuts, oil is over $50 that's a separate story. industrials, banks, real estate. this is the reopening story is back defensive names like consumer stateme staples is down. even the bostick comments, that the fed could start tapering bond purchases if the economy improved, the market shrugged at that these are what we call e & p names, occidental, continental, look at these double-digit gains. you don't see this very office in the energy stakes, folks.

kelly was talking about the market risks they haven't gone away they're term one there's some concern that the democrats could capture control of the senate or at least have a 50/50. we'll know the answer to that in a day or two but the slow vaccine rollout is certainly an issue and there's concerns that could impact the economic recovery and impact earnings because we're expecting one big la la flooz a ollapaloo. and there's vagueness in the second half. you see these are the quarter number estimates for the s&p here $36 for the fourth quarter, 38 for the first quarter, $40 for the second, it just keeps rolling out. it's essentially the second quarter when we're talking about big moves up in earnings and the problem of course is it's a race for the vaccine against the virus and all of that will impact the reopening story

>> bob has just laid out some of the risks to the market and this sluggish start at least yesterday for 2021 year-end targets for the s&p 500 for most of the brokerages and banks are higher across the board. it has a year-end target of 4,200 on the s&p that's about a 15% return and they are even lower than jpmorgan my next guest does expect stocks to rocket, especially in the first half of 2021 he's brian belski. b.b., welcome, happy to have you with us. >> here's to a great '21 >> may we all have it and be healthy and safe as well why are you as bullish as you, given how far stocks have come and given the fact that the economy has some sort of uncertainties in it. >> great question. we issued our report in our year-ahead piece on 2021 on

november 19th. i think we're either the first or the second of the top ten banks in north america to put our piece out. we've been there for a while we still think we're in a big 20-year bull market. march 23rd was the reset, tyler. i think the next ten years of markets are going to be much different than the last ten years, much more fundamental, much more bottoms up i think where the biggest differences we have relative to other people on the street is, number one, consensus believes the second half will be better we believe the first half will be better. if you think about all the people on your broadcast, even today and yesterday talking about earnings and inflation and when fundamentally the market is starting to look better, we think investors are going to start to get nervous because of a potential tone change from the fed. this has been a stimulus driven market and we think we're going to see a lot of stimulus once mr. biden takes control and with the help of ms. yellen, we think

the stimulus package will be very big, bigger than everybody thinks and that's going to fuel stocks higher. >> i'm sort of with you on the idea that if the market is moving higher, that it may move higher more in the first half as stocks discount a better economic performance in the back half of the year where the profits are going to be going up as bob just showed i want to drill on the idea that i think is implicit in what you say. you have to be a more fundamental investor now in the market of the next ten years than a macro investors in the market of the past ten years so i take that to mean that you can't just buy a sector, broadly speaking, that you can't just buy the market, broadly speaking, and that you'd better be ready to do some stock picking. am i understanding you correctly? >> you're absolutely spot on in your recommendations with respect to size and style, it bears fruit so far from certainly november 19th to the

beginning of the year, we're basically equal weight growth and value, small, medium and large. the growth and value trade has been essentially flat. and i think too much of hit has been driven. i think the days of learning about company management, cash flow, product, services are going to mean a lot more to investors versus formulaic investing. a lot said about posting a 20% return in 2020 because they've become much morning fundamental. our conversations with institutional investors have turned much more quantitative. i think we're going back to 80s and 90s investing when a lot of learned the market where we're buying companies and industries and themes thematic investing is going to

be very important to pick good companies and hold good companies longer term. >> what would be a key thematic issue for 2021 >> well, i think this whole notion of the return to normalcy, i thisnk it's too easy tyler. from a thematic basis, you have to be pretty diversified across all sectors. i know that technology and communication services are by far our favorite sectors, along with discretionary, i'm sorry. this year i think we're going to see a broadening out into some of the value areas but you have to play themes within each of the value areas. with industrials, you want to be diversified with respect to the domestic side of things, i think you have to be really, really careful just to lay that blanket of value overall and i think the biggest call of all, quite frankly, is the stay-at-home stocks are going to do very good you want to maintain your

positions in text and communications services and when the market goes up, peel back a little bit and when the market goes down like yesterday, you buy back into those stay-at-home stocks >> do those stay-at-home stocks, are they predicated on a nationwide lockdown? is that what you're expecting >> i think there's a very good chance mr. biden will be aggressive and i think there's a good chance of a 30-day lockdown and it will be exacerbated with a very strong stimulus mackalmu and that will only make a bigger stimulus package likely. does that mean the amazons and netflix of the world are going to go up i think they'll do very well under a lockdown, tyler. as the market progresses through the year, you want to become more stock picking and more value and cyclical oriented. >> brian, before we let you go, i just want to clarify, you really think it's possible we could see a national lockdown here like we see in the u.k. now

do >> i do, kelly nice to hear your voice. how are you? >> hi. >> i would say with mr. biden talking about a mask mandate, i think it ve's very likely and justify the kind of stimulus that will be justified by a nationwide lockdown. >> i can't even imagine what that would do to the dollar and inflation expectations and all the rest of it and i hope you're wrong but at the same time it also so bad right now i don't even know what the right strategy would be. i haven't heard anyone go that far and say that's a possibility. thank you. we'll see. brian, we'll let you go. let's get to meg tirrell any recovery is heavily depe dependent on getting people vaccinated as quickly and

efficiently as possible. meg tirrell is looking around the world what's looking elsewhere. meg. >> hi, kelly well, for now an update just out of the cdc on the vaccine nation pace and it is slowing a little bit, at least from yesterday the new numbers show that we have distributed now 17 million vaccine doses in the u.s., we've administered 4.8 million of them that's about 28.4% yesterday's just date was -- israel still wait far ahead in terms of its population it's vaccinated, only 16% now united arab emirates second. and the u.s. with 4.8 million, that's about 1.5% of the population so what is recall doing right? they have a strong community health system. a lot of this is very

centralized. they've got a national vaccination registry and it's all digitized. they're also doing simple things like repackaging the pfizer vaccine, which comes in packages of 975 doses we talked with dr. grotto about what is working there. here's what he said. >> you have a very strong community health system, which is well organized, it's all public there are four hmos responsible for the entire population and they are according to -- they have to supply services to every citizen. >> they are running into supply issues in israel now and questions about covering everyone in the region including palestinians this as israel has entered a new lockdown just like the u.k. has as they detect this new more contagious variant they're trying to get the vaccine out as they lock down

the economy. guys >> it's fascinating, meg so many people are say can't we do the same thing with that. i want to come back to you with what we were speaking to brian bellski about. if investors are asking it, i wonder, do you hear any chatter about the prospect of the u.s. doing a national lockdown of sorts, maybe in the next few weeks if our numbers look at bad as they're looking in other countries. >> it will be surprising if it happened in the next few weeks before a change in administration because that has just been so against what we've been hearing from the current administration in terms of the approach here. and it is so politically untenable, you even hear folks in the biden camp really staying away from talking about overall shutdowns. but of course there has been discussion if you can provide the economic support for businesses where there is the risk of spread, for those

businesses to shut down, would we see something like that those kind of things have been talked about but it is not something that i am hearing, this is definitely going to happen as soon as there's a change in administration however, you are seeing countries react that way when they detect this new variant and we have detected this new variant in several states now. >> interesting meg, thank you so, so much our meg tirrell with the latest. >> we really haven't been hearing much about the idea of a nationwide lockdown. it is kind of antithetical to a lot of how the united states is organized, certainly in terms of public health and other things but time will tell and maybe the hardest days are ahead. coming up on that cheery note, we are at the highs of the sessions at least that's of good news we've seen a nice ramp up in the last 15 minutes. energy leading the way as crude breaks through $50 a barrel for

the first time since february. we will have more on that exciting news. plus as georgia heads to the voting booth, with the senate runoff ectns, leiowe will look at how amazon's twitch is becoming a can't-miss stop on the campaign trail more power lunch coming up next. , so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about. yeah, it'll free up more time for your... uh, true crime shows? british baking competitions. hm. didn't peg you for a crumpet guy. focus on what matters to you with thinkorswim. ♪ i made a business out of my passion. i mean, who doesn't love obsessing over network security? all our techs are pros. they know exactly which parking lots have the strongest signal. i just don't have the bandwidth for more business. seriously, i don't have the bandwidth. glitchy video calls with regional offices? yeah, that's my thing.

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administration the issues at stake include pandemic relief, clean energy, taxes and more, which is why money has been pouring in, making these among the most expensive senate races everyone run. republican senator david purdue and democratic challenger jon ossoff have combined to raise $240 million kelly loeffler and rafael warnock are bringing in nearly as much. stephanie, what's the primary one in your mind welcome. >> hi, thanks. i mean, so if democrats win and they have the majority of the senate, it will only be with the same number of people that republicans have it will be a 50/50 split, vice president harris will serve as the tie breaker. i don't see a democratic or even a republican win as being some sort of a mandate for sweeping policy one way or another, burr i

-- but i do think there can be some fiscal policies taken, especially if democrats do have technically the majority control of the senate that will be different if republicans were to maintain majority control. so the first thing that i think could happen as part of a covid stimulus would be those 2,000 checks potentially something similar to what we've seen democrats pushing in 2020 could carry over to 2021 i think infrastructure is something biden really, really wants and if he can get a bill to the floor, elements of that that are green, that have clean energy involved could absolutely move under a democratic majority and finally to pay for some of this because this will need to be moderated by getting republicans to vote with democrats because the majority will be so small, i think you could see some interesting things on -- to corporate tax rates to raise them a point or two to help pay for some of

this so i think it will be a watered down kind of big stimulus fiscal policy package that we could start seeing take shape. >> what is likely on the taxation side of it? a lot of people could have corporate taxes go back up, either to pay for a number of different policies just to close the deficit in general or simply on the principle of repealing what president donald trump did. i've seen different notes what people are trying to see for earnings estimates is that a second order of business or further down the line >> i think it might be slightly further down the line but i think it's a 2021 event because i think despite that it is not easy to raise the corporate tax rate, if folks remember, it was at 35% until the 2017 jobs act when it went down to 21% so to raise it up a few percentage points could be the easiest place to find money to pay for other priorities

and biden will be really pushing a fairness and equality promoting sweet of policies. so if he can justify this is to give to low and middle income individuals, let's make corporate pay a little bit more, i think that's not that unpopular of a method. >> i have two quick questions which for the first time in my life i'm not going to ask together, i'm going to ask them separately whether the senate is 50/50, 51/49 or 52/48, doesn't that mean over the next couple of years that individual senators are going to have incredible pivotal power on anything that moves through. they can -- one person, two people can block anything. >> yeah. >> yeah. so i think if republicans maintain with either 51 or 52 seats, that one person will be mitch mcconnell.

because he will be the one negotiating with biden he won't let anything come to the floor unless he feels like his caucus can get something out of it. >> but it gives huge power to the likes of rand paul or susan collins or others, right >> right well, absolutely all though the full republican caucus won't be needed and conversely if democrats win, very few things are going to move with the full democratic caucus because, again, it's a very, very diverse field, like you think bernie sanders is the opposite of rand paul. so i do think that we'll put a lot more power with those moderates, with someone like susan collins. i can see her being a true deal maker. >> so let me get to question two and that is tonight there are two senate races in georgia. tomorrow there is the vote to basically count and certify the presidential election results from, among other states, georgia. will senator loeffler or senator

purdue, who were part of the old congress, be in the chamber tomorrow when georgia's vote alley come loeffler might be because she's filling in -- >> because it was an election -- >> she's still a senator >> loeffler has said she will support the president's objections in states that are deemed to be unsatisfactory. >> thanks. good to see you. happy new year >> as the stakes in these two incredibly contentious races are so high, candidates have been doing whatever they can to reach potential voters and that is including streaming while playing games on twitch. josh lipton joins us now with more >> so twitch is the video streaming site owned by amazon it's where people go to watch other people play video games but it's also becoming a way for

politicians to connect with young voters that's just what u.s. senate candidate raphael warnock did. they played the game uno while also fielding political questions from players as part of this growing trend we're seeing, remember back in october, representative alexandria ocasio-cortez played the game among us on the site, her stream peaking at 439,000 viewers. michael pactor said it makes sense to access twitch, and why not. the number of people watching twitch in the u.s. meaning at least once per month, reaching more than 42 million in 2020, that was a jump of 26%, estimates that twitch is probably now generating around $800 million in annual ad revenue. rivals include facebook and

youtube. will these twitch eyeballs translate into actual registration and votes maybe we'll have a better idea after today in georgia >> wouldn't you just love to watch mitch mcconnell play "fortnight"? >> i would that's good taint, tyler dp >> that is worth every penny >> and up syou saw president tr, he streamed some live here different sides of the aisle trying to capitalize >> mitch mcconnell versus schumer in a real fight to the death. love it. >> kelly, take it away >> i would watch that as well. let's do it. i love it. tyler, maybe you and i should be challenging each other what a mess that would be. coming up, 2020 auto sales are expected to come in at the lowest level in a decade

general motors is getting a boost from two key areas plus check out this mystery chart. the stock up 60% in the past three months, city giving it a double upgrade today saying it even has more room to run. we will reveal the name right after this

welcome back to "power lunch. the dow is near session highs, up about 255 points or there abouts micron hitting highs not seen since 2000 today after, get this, a double upgrade from citi analysts expecting a big up turn in demand from memory chips this year let's bring in your trading nation team because you can never trade enough mark tepper. by phone, jc o'hara. mark, take it away micron, buy, sell or hold? >> i'd be holding micron overall look, tyler, i love the semis. everything nowadays has a chip in it, cars, phones, appliances. the golf balls, you know exactly where your ball lands. not a huge micron fan.

there's always some supply and demand narrative it's always out of whack the goalposts are constantly moving it's a very cyclical semi. the product is the input to technology i'd rather own the technology. nvidia is the way to go. that's our largest chip exposure they're in all the fastest growing end markets that we find exciting ai, autonomous vehicles, they're innovating, that's where i'd be. >> j.c., your opinion, buy, sell or hold on micron? >> i like this upgrade or this double upgrade technically this chart looks fantastic. to me micron has plenty of room to run look at the chart. there was a massive breakout last november. that breakout came from a three-year base where micron traded in the 30 range typically what follows these breakouts after a long period of consolidation is a very powerful

bull run, which i believe we are still on right now technically we could see the stock push higher to 85 in the near term. that gives you another 10% from current levels keep in minds we do have earnings this week and that could be a potential catalyst or risk factor. love the technical set up here >> mark, j.c., we appreciate it. for more, can you head to our web site or follow us on twitter at trading nation. not to be confused with bachelor nation, kelly. >> well, sometimes they overlap. ahead on "power lunch," auto sales hit their lowest level in nearly a decade. we'll ask group one automotive about that next. plus are you still watching? one firm says netflix could face a wave of subscription cancellations in the next year we'll have that when "power lunch" continues

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well commonwealcome back, ey i'm sue herera germany has extended its nationwide lockdown through the end of the month chancellor angela merkel introduced a series of stricter covid measures, including additional testing and quarantine requirements for travelers coming from so-called risk areas meanwhile the georgia bureau of investigation is probing specific threats made against today's senate elections in ten counties according to a weekend post from the cherokee county sheriff's office, employees from several county offices had received threatening emails kenosha, wisconsin is bracing for possible protests

ahead of a charging decision in the jacob blake case blake, who was paralyzed after being shot in the back multiple times by a white police officer. and kyle ritenhouse has now pled not guilty on all-counts you are up to date, kel. i'll send it back to you >> okay. thanks very much, sue herera it has been a shocking session after a surprise decision by saudi arabia to cut production eric chemi has more of the details for us eric >> the news out of opec is sending oil prices to their highest level, topping $50 a barrel for the first time since february just 11 months ago. opec's decision to keep output study is different by voluntary

cuts out of saudi arabia opec has already increased production by 500,000 barrels this month traders were also watching tensions in the middle east after iran seized an oil tanker on monday. the move in oil is giving a big boost to energy stocks as well, with that sector up more than 6% the broader oil and gas etf is up more than 8% today. kelly, over to you >> thank you very much it shouldn't be such a delay for a go of a couple of floors >> let's check on markets. we see the markets picking up steam the dow gaining more than 250 points at the high and up near li nearly 1%. the russ elerussells up 2%

jim cramer is up with his investabinves investable theme china and remoat wote working he's also looking travel and leisure, he likes boeing, uber and airbnb, all three doing very nicely today we talked about airbnb versus grub hub, i believe it was yesterday and the consensus was airbnb, just like jim. amazon will convert seven retired boeing passenger jets into karg othcargo planes but w booting bog is the return of the 737 max with more coming but boeing shares are down 30% over the past 12 months as for uber, cramer isn't the only one who is bullish here needham naming uber as a top

pick for the enough year as well and how about airbnb down grading it to neutral to overweight btig says the current quarter is tracking ahead of estimates. you'll get the full list of mr. cramer's investing themes on cnbc.com kelly, there's a lot to process there. >> and a lot depends on the rollout of the vaccine >> it sure does. travel stocks especially >> shares of general motors are higher than more than 2% today our phil le boebeau joins us wi look at those numbers. >> the strength is in pickup trucks we'll talk about that in a bit the q4 numbers out today and they were stronger than expected edmonds.com expecting an increase of 2.4% general motors with increase in sales of 4.8% in the fourth

quarter. that's one reason why the stock is moving higher and full-size pick up instruction is where the strength is coming in a year where gm's sales were lower, as i mentioned full-year sales down 11.8% this is the key to the story here 41,886 that's the average price somebody paid for a gm vehicle last quarter that is a record high. one reason why the people are optimist being about the q4 financials they'll report in a few weeks. the december sales for toyota, that's a slightly different story. they're seeing high transactions as well. full-year sales down 11.3% we should point out the prius, they had their lowest sales for any year since 2004 selling just under 50,000 last year

and finally nissan reporting sales declined of 19.3%. we will get the sales rate, guys, the full-year sales a little bit later on today. we expect it to be about 14.5, 14.6 million vehicles. >> let's take a deeper dive, as they say, into the auto industry and whether we can expect sales to pick up where they left off in the second half of last year, which was pretty good. we welcome back earl hesterberg, president and ceo of group one automotive, not just in the united states but around the globe as well. earl, it's always good to have you. welcome back and happy new year. >> thank you same to you. >> how did you do last year? >> i adjusted staffing levels at dealerships every week, as we had shutdowns and business going up and down. we got through it quite well >> overall, how do sales in 2020 compare with 2019 and where were the soft spots

>> well, if you look at retail sales for the industry, they're going to be down about 1.5 million units from 2019, but 1.2 million of that 1.5 million unit decline came in april and may. so as we went through the summer and the fall, the volumes were getting back somewhat close to previous year. only 300,000 units down in the summer, fall and beginning of the winter so the business was incredibly resilient in the second half of the year and it seems that there's still -- that momentum is going to go through the first part of 2021 >> let me ask you, why don't i just ask you this, why do you think people came back so confidently in the second half of the year? i assume you're going to say pent-up demand but could it also be that, well, gosh, i'm not traveling, i'm not going on a long trip so i'm going to treat

myself the best way i know how and that is to buy a new car or truck. >> well, there's quite a few different dynamics in there but i do think people like their personal space texas is a wide-open space i see many of our employees and friends who normally would fly from houston to dallas or oklahoma or louisiana. now they're making those trips in a car and there's a lot of new product on the market that has a lot of interest from consumers and interest rates are low so affordability is still quite good on automobiles. so there's a lot of positive factors, including strong use car values so trade-ins worth as much as they've been in many years we have a lot of things going for us that may not be evident immediately. >> as you go or went region by region or market by market over what happened in 2020, which markets or regions came back the

fastest or stayed strongest the longest and which were sort of slow to respond to that second half comeback that you've described. >> the south central and southeast u.s. had incredible resiliency, their pickup truck markets, they didn't have the extreme lockdowns. even now we're struggling with california, this lockdown quite a bit. we don't have a lot of stores there fortunately. new mexico has been locked down. parts of new england have been locked down pretty tight but if you go across the sun belt and south either, the business has been fairly steady. the u.k. has been a bit challenging. but we continued to do quite a bit of business in the u.k. and, you know, we're going to come through fine in the u.k. also. >> earl, it's nice to see you again. happy new year >> kelly >> power movers are on deck. chinese mpiecoans getting a reprieve

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folks, power mowers are out of season but we got power movers we chart with china telecom,

mobile and unicom, all three were threatened to be delisted but the decision was reversed. and first solar, skipping over hold goldman says earnings are peaking and more challenges are emerging for furst solar and goldman sachs hitting an all-time high today. mike mayo at wells fargo remaining bullish saying the company is his top near term recommendation kelly? >> all right shares of netflix are up 60% over the past year as new competitors emerge, one of which took netflix's hottest property, can it possibly continue its streaming stranglehold shares are trying to hang on to gains today. we will dig on to it next on power lunch. want to sell the best burger in every zip code?

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welcome back are you still watching that's the question in rosenblatt's new streaming survey and the firm is saying subscription overload and the loss of the office are major risks for netflix, specifically 32% of respondents said they're likely to cancel their account over the next three months here now to discuss is rosenblatt securities. bernie, is that number higher than usual >> happy new year. thanks for having me on. this survey was 32% of respondents indicate they plan on canceling their subscription. that's up from 13% in prior surveys and it makes a lot of sense given what's happening with the service right now the office leaving, moving to peacock, as i'm sure you're well aware, and then the price increase coming up and don't forget that a lot of viewers, respondents have been stuck at home for nine months, so in a post-pandemic world want to get out and do more things.

and 65% of respondents indicate that they want to subscribe to less streaming services post-pandemic than they do now >> yes, which is understandable as they proliferate. it doesn't seem like netflix is going anywhere but i found the following stat very revealing. you said on future price increases 15% of netflix respondents said they wouldn't cancel if the price went over $20 a month, only 6% said that for disney in in other words, if i'm disney and i read the results of your findings, i would say i can raise disney plus pricing to over $20 and only 6% say they would cancel that's extraordinary what does that tell you about disney's catalog versus netflix? >> i think what it tells you is that 6% of people are willing to pay $20 or more and that's at this point, too. we think that one of the most interesting things that came out of the disney investor day is really the content overload that's about to happen at disney plus and the key thing is they were

able to get massive subscriber sale in their first year of service using library content. the second half that was introduced at the investor day is going to be new original content, the marvel original content and more movies hitting the service and we think that's going to drive ultimately a lot more pricing power and we recently walked through disney and we think the subscriber opportunity for the disney services is well understood, but the piece that isn't is the pricing power when you have been spending $16 billion to $18 billion on content and the success that they should have with that content given their ip, they have the best franchises in the world, that's going to drive a lot of pricing power for the service. >> let's bring it to the bottom line for shares of netflix i believe you have a hold on them it sounds like they're going to have to do a lot of investment content-wise if they want to keep up the investments that

disney and others are making we're used to that from netflix. tell me what you think the risks are around the stock and what it's valuation is. >> we have a hold rating a shares and it comes down you're paying an elevated multiple, so the eight times revenue, it's really a mid teens grower and that's as slow as netflix has been growing really ever so we think the multiple for the slower growth isn't worth it but what comes with that, when you go with the fast growth, is that really what disney did, they're just raising the bar and really the entrance fee to be competing in the streaming wars. and if disney, as i mentioned before, is disney is spending that amount of money, the highest rate in the industry, is netflix going to have to go from 15 to 18 to 25 billion in content? where did that stop? so i think the story is focused on unlimited pricing power for

netflix, getting to $30 of earnings at some point we just think that the risk is to the downside there in terms of really the upside in terms of how much you're going to have to spend in content to drive the subscriber estimates we have. >> the results are fascinating we appreciate you joining us to talk through them. thank you, sir the dow picking up steam this afternoon, gaining back some of yesterday's rather steep losses we've got more on the markets coming up. and as you see the dow up 199, you can always listen to us live on the go on the app we'll be right back. your grooming business is booming.

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well, the dow industrials up about 200 points, the s&p higher by three-quarters of a percent, nasdaq roughly the same. look at the russell 2000, nearly 2% higher, as small stocks emerge from the passage over the new year energy stocks are really the leaders today, up very significantly for a change on word that saudi arabia may institute some production cuts, and that obviously is helping the energy patch, including the s&p energy sector up 5%. but marathon, occidental and apache all up more than 10%. >> tyler, we haven't seen oil prices above $50 a barrel since february at some point people are going to be reminded of prices at the

gas pump i guess when we are all getting back in our cars and commuting every day. >> and obviously seasonally we're at the low point of driving right now, but as earl hesterberg said, there are a lot of people going on trips and driving instead of flying and we come in as wes move into march and april and may into a higher driving season. >> yeah, i remember when meg terrell said that her mom drove across the country to see them this year, didn't have a choice. we'll leave it there and hand it off to "closing bell" to pick up coverage thanks for watching and we'll see you back here tomorrow thank you, kelly and tyler welcome to "closing bell." i'm sarah eisen with wilfred frost. another rocky day on wall street was 2021 gets off to a volatile start. the major averages now firmly higher as we enter the final hour of trade. let's look at what's driving the action right now it's election day in georgia and investors are closely watching the outcome of the