tv The Exchange CNBC January 12, 2021 1:00pm-2:00pm EST
1:00 pm
with the certain states like year earnings of 20 p and i like california and new york as examples, they have the it. >> one of michael fpharr's top infrastructure, and other states don't have it, so they don't have a system to track it, and ten, and we like it. disburse it and a process. okay. so the major averages are not >> realtymogul has a $2.3 doing a heck of a lot, but it is the interest rate complex, and million of multi family units, 10-year yield is the highest since march and you saw it at and she says that the properties 117. that is going to do it for us, they are invested in have not and the exchange starts now. been hit as hard, but the mom and pop landlords are in real trouble. ♪ >> for a lot of the small landlords and say they have five units, and four of the five are not paying the rent, they can't hello, everybody. happy tuesday. pay the mortgage, and so the big i'm brian sullivan in for kelly, question is how are the lenders and call this the rising risk of reacting, and will the lenders give them enough time to get rising rate. back on their feet. as scott noted the interest rates are on the move and the >> reporter: and hohmanns says she is concerned that $25 highest in nearly a year, and billion is not going to be could the super tank or swing enough, and despite all of this, the current investment in multi stocks we will debate. family is off of the charts. and the energy is not tanking, >> i have never seen demand but soaring, and leading the higher than where it has been. market as it rallies, but do you a lot of people who were buy in, if you want to get in? investing in other asset classes like hospitality or retail, they
1:01 pm
goldman sachs brian sing ser going to join us, and name moving away from the asset names. and speaking of power, plug classes, because they were hit very, very hard in covid. power rallying 80% this year in seven trading days and surging again today on the big new deal, there is still tremendous and the ceo is going to join us on the broadcast exclusive and demand, because people are end sping more and more time for so much to do on this tuesday, and let's talk more about these their apartments than ever before, and the other is markets, and your money, and interest rates. >> as the rates are rising, that while scott correctly noted that may get tougher. the dominant markets are not brian. >> a very quickly, you have moving in a big way either way, it is about the idea of the mentioned $25 billion may not be rotation, and it is about the enough, and are you expecting rising rates, and the domino, more from the incoming biden and what are you looking at, my administration >> most are expecting more, and the question is if it is going friend >> so many cross currents in the to be earmarked specifically for market, but as you point out, it is relatively stable, and gains rent relief, and that is what is and losses, and right now as the important for the first $25 things stand, the industrials billion and the first did not j. are flat and 11 points, and the we want to see more going s&p 500 is off by about five or straight to the renters and the call it flat. the highs of the day, the s&p landlords because they are shouldering this burden right 500 was up roughly 10 points, now. and at the lows, roughly 23, and >> diana olick, nbc, thank you to give you a idea of the trading range, the s&p 500 is 73 very much. check out this mystery there, and one of the thematic chart.
1:02 pm
trades playing out for the past goldman sachs adding this energy few months in a reversal over name to its american conviction the last 12 months is the list who is that mystery chart? outperformance of the value come up next and don't forget, oriented dividend paying you can watch us live on the go orientation stocks over the or another room of your house if you're hiding from the rest of value of growth names, and these the family, download the cnbc are the white line for value and app. ba aerhi ckft ts. the orange line for growth. you see it here that it has been my retirement plan with voya keeps me moving forward... widening out, and on the year to even after paying for this. date basis the gap is 4% in the love you, sweetheart. first few trading days of the they guide me with achievable steps that give me confidence. year to give you an idea of the the trade is going to play out this is my granddaughter...she's cute like her grandpa. in the coming weeks. then take a look at the stocks. what do they have in common? voya doesn't just help me get to retirement... we are talking about etsy up ...they're with me all the way through it. come on, grandpa! later. got grandpa things to do. 13%, and chewy up 6%, and ebay aw, grandpas are the best! up 4%, and they are online well planned. well invested. well protected. retail. what does it say maybe it is a trade on the surge voya. be confident to and through retirement. in covid or maybe the online retailers are getting a little bit more optimism from the investors the and watch the trades green in the flat session, brian, and etsy is up 13% which is an all-time high by the way, and back to you, sully
1:03 pm
>> buying the pet furniture or supply masks for your pets. dominic chu, thank you very much. so let's get the chip to sea, and by hitting the bond yields surging to 5-and the 10-year yield taking a sharp turn upwards up 50% in three months. why is this important? well, obviously, it could make things like mortgages and car loans cost a little more, but it is also a competition for equities. and it could hit the valuations, because the higher rates reduce the value of the net present cash flow, and remember that from business school so where do the rates and stocks go from here we will ask sri kumar, and also we shreef, and we have been talking for 15 years now, and you have been out there on your own, and by the way, you been
1:04 pm
correct for the last four or five years that the direction of rates will go down, down, down. are you here on cnbc on the record ready to say that trend is finally over? >> i am saying to you, brian, thank you, again, for remembering the past, and after being very bullish on the treasuries and expecting the yields to go down substantially, i'm going to say for the first time on your network and on your program that the downward move is probably finished. the question is how high are it's moving day. and are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. they going to rise, and the it only takes about a minute. reason for that, brian, is one, not because i am looking for the economy to be sharply improving wait, a minute? but what have you been doing for the last two hours? in the months to come, but i think that it is coming as a result of supply and demand in delegating? oh, good one. the treasury bond market. the biden administration move your xfinity services without breaking a sweat. indicates that it is going to be now that's simple, easy, awesome. a lot of spending. the president-elect said last xfinity makes moving easy. go online to transfer your services week that he would expect in about a minute. get started today.
1:05 pm
trillions of dollars of new stimulus, and this is on top of what they have had last year. and when you are looking at that, and also the fact that over the last year, the dollar the energy sector getting has been dropping, anded the dxy absolutely walloped last year. the xle down as much as 60% of measure of the dollar index has the march low between crashing oil prices, lockdowns, pandemics been weak, andgetting weaker, and so the problem is that you and esg investors dumping oil have a problem with domestic stocks, nothing can save buyers of the treasuries, and investors from losing money. last year's pain may be this you have the possibility that year's gain. they will go on strike, because energy up in the trading days, exxonmobil and chevron leading if the dollar is weaker, why the way and your next guest is more bullish than most on how would the foreigners buy them with the rising yields and the high oil prices can rise and use weaker dollar, so all of those the motto lead when choosing the lead me to believe -- >> well, let me, sri, jump in, names to buy brian singer, for oil and gas and go to chris, and semi answer and brian, i wish it was down at the question, and respond to it, the goldman sachs conference in because maybe as much debt as we have, the highest percentage of person but nonetheless, oil hot debt to gdp since world war ii, for three months now to what is the primary turner and there is 15-plus trillion in for this sentiment around this
1:06 pm
interest rates debt around the hated group? world with real yield, so we are >> it's a great question and good to see you. looking much more attractive i think a lot of it is greater from the yield perspective, do confidence that we see oil we not, because at least at 1%, demand recover and in our view, while that's happening, oil we are at 1% >> you are right, and we did supply outside of opec will not look attractive, brian, when the and so you put the two together, back to a place by the end of yield was 70 basis points 2021 where we recovered all of positive and the 10-year german the demand and back to 2019 bund was minus 65. level, we think that could be but if you are looking at it materially higher oil prices even after the rally we've seen today, the german yields have also risen, and soinlt 47 basis so far >> saudi surprise from opec with points negative on the german prince abdul aziz, surprising side. that is the first part. and the second is that you have to look at not only what is everybody which takes place in happening to the u.s. treasury february and march is that too already priced into yields, but what is happening to the market, brian, if you think the currency. and the trump administration has been keen to have a weak dollar. that oil bulls have gotten ahead of themselves in any way they are having it, and the risk >> it's a really good question and as you said, it has impacted is that you can have a dollar and really shored up near term slump in the new year, and this prices and i think when we think is the risk also for treasuries, about the stock and energy equity, what really matters is down the road, will the world
1:07 pm
brian. >> well, the chart shows that need opec to start producing the dollar has been weak. more and chris, it is tight, because and that's obviously what's we are coming to you, and we happened but ultimately, as we have a news alert in the bond see demand recover in the second market going exactly to what we half of this year, we think are talking about, and right that's going to accommodate more now, rick santelli, the auction opec production. of 10 year, and what is your that can start to bring up oil futures further and that can grade, professor help lead to a more sustainable >> well,ly tell you that my grade is in to a second, but rally in the equities. first, the side of the argument that you are having is winning on this side of the auction, we are bullish into next year because i give it an "a" and yo from a pricing perspective and we also think that one of the can talk about the weak dollar key reasons in the global energy and the balance sheet on this conference last week is that side of the country, and we may u.s. shale producers may be more be the cleanest shirt in the hesitant to ramp up activity and have greater capital discipline than before. put it together with multiple hamper, because the second opening of the auction years in investment with long originally in november, and the projects since you've got a yield is .1164, and it was better environment shaping up for commodity prices trading .117, and so not only >> a few stocks for the targets turned the screws meaning that above the current price. the bid, the amount that was eog, eqt but quickly, brian, pushed back to move all of the about 45 seconds supply of this auction was at a doesn't get a lot of love but lower yield and higher price, and 2.74 to cover the average, hess, you like it. got the assets down in south
1:08 pm
and 2.62 to cover the indirect, america. gets ignored here. why is there so much value left in hes and 17.8 direct is the best all >> particularly if the back end year going back to december of of oil starts to move higher because greater confidence that '19, and if we are looking at the dealers, they only took 20%, maybe demand won't start to roll over until the 2030s as opposed and that is the smallest they have taked since august, and no to the 2020s, time going into matter how you slice it, it is a solid auction and going to the general point that there is a lot of things going on in the world and the country, but the more than 3 million barrels a day ultimately, we think in the markets, they seem to be paying attention to things like how next decade and 9 billion much money we are spending, barrels which has 30% because the rates are going up, discovered we think that's a very unique and the dollar stopped going story outside of shale, in terms down as quick, and why did they step up to the auction, brian? of longer lead time growth and i think that you can answer in the near term with higher oil that. you know, you are looking around and even though we are prices, hess could have a better committing some sins, and we are not the only one, and the cash free flow profile than central banks outside of the people think. >> bullish on oil. u.s. will have bigger problems than us if the rates still go we'll see you in person at the up. back to you, sully. >> yes, 15-plus trillion in next conference. take care. that does it for "the exchange" negative interest rates around the world, and no matter how low but stick around for "power lunch. ours is, professor sully, and it
1:09 pm
removing qanon accounts. took me 15 years to get, but i former fcc commissioner robert will take the "a", chris, very mcdowell weighs in on the ongoing battle over social media much. >> and so maybe some of you are and the role that regulators saying is, how come a prime bond could and should play. yield, and why do i care we'll see you tomorrow take care. "power lchupex you care, because the bond un" nt. market is bigger than the stock market and moves thing more, and how close on the equity side are you watching interest rates? >> i am watching the interest rates closely, because as you pointed out all of the markets are interconnected and if you are thinking of anything in the finance rate, it is interest rate that determines everything, and looking at the treasury which determining the rate for the entire world is important, and we are starting to see the rates higher, and if you believe they are going slightly higher, because people believe what is happening in the u.s. with spending, and that is the case or worried about the dollar potentially weakening, and yod vu less foreign buyers, all of those things have to go into the formula to figure out where the rates will be, and also, to your
1:10 pm
point, the foreign market has driven awe of the interest rates, and the dynamic is more clear, but for the rest of the market as well, looking at the valuations in general, and all things equal the higher rates is the lower price ratio earnings, and right now, it is on a forward basis of 22.5 times the, and that is well above the average of 16.7 times, and so if the interest rates are continuing to go higher. >> and chris, let me jump n because that right there, you nailed it. and the debate. this is the fight on stocks, and interest rates that are higher, need to bring the multiples down. so the bears will say, multiples, and thus stock prices have to come down, and the bears will say, no, no, no, the higher rates are a sign of growth and a little inflation is a good thing, 57d higher rates and higher stock prices can go hand in hand. >> that right. and they can go hand in hand to some extent, and that is the
1:11 pm
key. you need the goldilocks environment, and you want the rates to go higher in a correct reason like increased growth. however, if it is fast, it could cause ta problem with the stock i made a business out of my passion. market. if you want it to continue to go i mean, who doesn't love obsessing over network security? higher, it is a good thing if they go higher slowly, and much all our techs are pros. they know exactly which parking lots have the strongest signal. worse if they go quickly, and then have a shock to the i just don't have the bandwidth for more business. valuations. >> sri kumar, december 31st, we seriously, i don't have the bandwidth. do it again, and 10-year yields glitchy video calls with regional offices? are above or below 1.57% yeah, that's my thing. with at&t business, you do the things you love. >> i would say below 1.57% at our people and network will help do the things you don't. the year end, brian. let's take care of business. the important thing to watch, at&t. and this is what is going to determine the year-end yield that you are talking about and whether the fed steps in, and they have yield curve control which means that i will start to buy the longer dated security treasurers, and if they do that in a significant matter, they
1:12 pm
can bring down the yield so that is why i would not go haywires looking for the even yields, and just like in the past, do not look for the yields welcome to "power lunch. to come down. >> good point. and this is why we are listening i'm morgan brennan and josh to steve leishman and others to keep the rates low for years to brown will be joining us come. we will see if that is true, and operation warp speed unleashes entire supply of doses and the the bond market 345i have othmar cdc lowers age requirement to get mo ideas. thank you, guys. switching gears, it is probably the hottest company and stock right now, plug power. the shares are up, you know, 84% in just seven trading days. the company making the second biggest deal in less than a week, and announcing a 50/50 joint venture with renault of france making a commercial vehicle. and joining us is andy marsh of renault, and i know that you were on with jim on "mad money"
1:13 pm
less than a week ago, and there you are in zoom, and talking about the election, and a deal inside of south korea, and this deal appears to be bigger in some future way, because it is 50/50, and why renault, and how big do you think that the european market just might be? >> so, brian, thank you for having me on. why renault is an easy answer. renault is the second largest light commercial vehicle company in europe, and they also were experts in battery electric vehicles which is a critical technology when you are marrying it with fuel. so when you are looking at those two together, it is a perfect marriage, and since we provide a full turnkey in the fuel cell from the hydrogen infrastructure to hydro cells.
1:14 pm
so there are to be 500,000 light commercial vehicles hydrogen vehicles on the road, and this could be bigger that on the south korean activity and plug has moved from being a fuel cell manufacturer, and hydrogen cell manufacturer, and hydrogen manager, and we are now in the space with the premier player that we could have picked to work with in europe. >> how big is the addressable commercial market in europe roughly, and do you the scale, andy, and the people and the facilities and the capital to scale up to meet that market >> well, i think they when you are starting to think about the capit capital, brian, we have the strongest balance sheet in this industry with over $3 billion. so we are well positioned.
1:15 pm
but we're also going to be able to leverage facilities that renault already has in place. and so there is going to be using many of their employees and many of our folks will be supporting the activity, and so we feel that we have the ability to meet this needs. but, look, when you are growing like plug, you can add people, and additional executives growing the plug team, and they help us to grow toout the team both in asia and europe and north america. >> and you to get the snow out there in asia, as i was there. and true as the highest mark on the streets is $60, and the stock sup from there and you are above every analyst target price, and it is great news for
1:16 pm
the shareholders, but can you give something for the bears with the valuation >> well, people like goldman sachs saying that it is a $10 trillion industry, and many folks know that plug power is the leader, and we have built the first real business, and the hydrogen industry with people like walmart, and amazon, and folks realize that we can build things that work. so we are in a unique position when you see that europe is going to spend 20% of the recovery money on hydrogen fuel cells, and looking at the biden clean energy plan, and the fuel cells and hydrogen are highlighted, and there is a great, great opportunity. i always like to highlight the fact that it is places like government, walmart and home depot who have the strong sustainability plans that can use our products.
1:17 pm
>> first hydrogen-powered snowplow perhaps. andy martian with the 50/50 group for renault, and we will talk to you next time of bringing the cost curve down on hide high. thank you. >> fantastic. thank you. >> and coming up here -- and you are very welcome, andy. and now, that is the first block and we have a lot more to do here on "exchange" as more members of the president's staff resign, and some of them with big business and wall street backgrounds, and will they find a second act or mosey off. so now, the hottest sector as rumors of the demise seem to have been highly exaggerated and what stocks do you buy now goldman sac's brian singer is here next to name names.
1:20 pm
welcome back. well, you can add another name to the list of folks bailing out of the trump white house early. acting homeland security sek chad wolf has officially resigned. he is adding to the growing name of officials who have resigned after the riots on capitol hill. and adding sentiment in his circle to see if former deputies
1:21 pm
with deep ties to wall street will have a hard time finding their next job. and with an op-ed, welcome in gary cohn for "vanity fair" and cnbc contributor, and bill, it is a pleasure to have you on, and if we are using gary cohn, and he signed and not insulting to ibm or gary cohn, but it is a bizarre deal, and it is not a big deal, and what do you make of that, and is that a one-off by big blue? >> well, gary, he is obviously the former number two at goldman sachs, and in the milieu of important corporate clients in america and around the world. so, you know, the thing that has me scratching my head is that he had just agreed to do this spac and raised $100 million for the
1:22 pm
spac late last year, and now all of the sudden, he is the chairman of ibm and on wall street when you are vice chairman of something, that is a signal that the career is over, and the chairman of ibm is signalling that gary is going to have a real job. it surprised me, because big blue and big tech is not really gary's thing. it sounds good on the old resume, brian. >> well, it certainly does, and you have ibm there, and of course, scaramucci, you mentioned and i love how you coined that andy is a friend of mine, and calling it a mooch is the term for the 11-period day, and that is fortnite is like having a mooch. and he is so critical of the president has helped him as well, and wilbur ross is in his 80s and going off on the yacht
1:23 pm
to palm beach, but what is going to happen to the others, and the steven millers and the minutias, and the others, where do they go and what do they do? >> look. first the of all, i mean, the revolving door between finance and washington has been open since, you know, alexander hamilton became treasury secretary, and he started bank of new york, right so this has been going on a very long time. usually, it is that sort of the one-way direction, where p the people from wall street go to washington, and it started to go in the reverse direction when henry fowler, the secretary treasurer went from goldman sachs, and then it became a revolving door. so he was the ceo of private enterprise, and served on boards
1:24 pm
and a lot of people out there, and as distasteful for the people out there who voted for joe biden, but people like steve mnuchin is going to be ending up on wall street and his own fund that he resurrects again or somebody else's fund, and there are a lot of people out there, brian, who are happy that the corporate tax rate was cut from 35% to 21%, and steve mnuchin and gary cohn were responsible for that. >> and they better be happy now, bill, because you know, it is going to other way in the next year or two, and we will find out. great piece there in "vanity fa fair" as you know. >> thank you, brian. >> and now we go to kayla tausche. >> well, becomes the majority leader in the senate, he started
1:25 pm
to outline his top legislative priorities and the first order is considering a new covid relief proposal, and we are expecting the details from the president-elect this week, and schumers say that the democrats in the senate expect to introduce a proposal with key elements. first, increasing the amount of the direct checks to $2,000 per person, and second, the additional funding for vaccine distribution, and third, more assistance for state and local governments which were notably shutout of the last bipartisan leaf package, and certainly the democrats had been pushing for more relief, and schumer is going to come back to the table, and where they can, they will strive to make it bipartisan, and even if they can't, they will not stop their progress. brian, as to when this is coming to a head, we know that inauguration is next week, and the state of georgia has a january 22nd deadline which is next friday to certify the results of the january 5th
1:26 pm
runoff where two democrats won upset races in the state. so schumer is saying after the new class of democratic senators are sworn in and seated, he and the incoming vice president will be floating and considering this new piece of legislation. brian, back to you. >> well, breaking news out of d.c., kayla tausche, thank you. coming up, it is the question that everybody out there wants to know, will the vaccines is work against new strains the of covid like the one that is ravaging south africa. we will have m wegith a report on that. back in two. with so many new pet owners,
1:27 pm
1:29 pm
hello, everybody. i'm sue herera and here is the cnbc news update at this hour. the cdc is planning to require proof of a negative covid test before boarding for passengers on international flights coming to the country, starting in two weeks that is according to "the wall street journal" and reuters it is an expansion of the existing testing requirement for passengers currently coming from the united kingdom. according to the washington post, the day before the capitol riots, the fbi office in norfolk, virginia, shared a raw report on the extremists calling for violence the next day and saying go there "ready for war"
1:30 pm
and we get our president or we die, end quote. and there is an angry kevin mccarthy, the leader of the house, told president trump to call and congratulate president biden for winning the election, but the leaders don't plan to encourage vote of impeachment which estimate of over one dozen republicans to vote to impeach the president. that is the news update. back to you, brian. >> thank you, sue herera, very much. many citizens are frustrated by the slow roll of the vaccine, so if they want to learn some lessons on how to do it right, maybe they need to turn to west virginia. almost heaven when it comes to vaccine distributions. we will talk about it ne. xt everybody's problem. and that's why we created rapunzl. the rapunzl app was designed for high school and college students to simulate stock portfolios.
1:31 pm
they're able to buy and sell stocks in real time. thanks to nasdaq's cloud data solution. if somebody tells you just download this app and you could potentially win a scholarship, and you're learning, it's like, yeah. information is key. having access to information at your fingertips on your mobile phone, on your desktop, or here on the screens, it really allows us to showcase what's happening out there. and so we pitched the idea of: why don't we host an investment competition on this newly built rapunzl platform? it was really cool to just sit there and like watch how the market really works. what i won was real money. so my first year of college, i ended up going debt free. data information being put in the right hands can literally change a person's like way of life.
1:33 pm
1:34 pm
expect for the vaccines and the treatments going forward meg terrell is joining us live with a special guest. meg? >> thank you, brian, so much, and of course, two variants that we are hearing a lot about lately for the coronavirus, and one is associated with the u.k. it has now been identified in several states in the united states, and it is concerning, because it a appears to be more transmissible and some say up to 50% more transmissible. there is another strain out of south africa and that one, we have not heard about here in the u.s., but it is potentially concerning, because it affects how our vaccines and drugs work. we spoke about this with the manufacturer of the eli lilly drug makers. >> the south african variant is the one to be concerned, because it has more dramatic spike to the protein that is the target of these, and it could evade our medicines.
1:35 pm
>> joining us to discuss this is vere technologies ceo who has a drug that may not be vulnerable to this variant. and thank you for joining us to the jpmorgan conference that you will be presenting from smith gl glaxo kline. >> we took a different approach from eli lilly or regeneron or az, and we took a part of the spike protein that does not change it is very hard for the virus to change, and it is shown by the same fact of covid and sars and many other coronaviruses, and we have said all along, it is a
1:36 pm
better way to deal with if potential resistance than two antibodies that binds to a region that changes frequently which is true of lilly and regeneron. so some said that lilly's may not work against the south african variant, and so as we can tell from what has been published, probably one of regeneron's keeps the activity there and the other doesn't, but there are other mutants circulating in the u.k., and another one that came out of minsk out of denmark, and a scottish one, and other variants that are circulating and all that are resistant to one or many other antibodies, and based on the sequence, all of the variants should be susceptible to our antibody, and we believe that it is going to be effective. we are determining that
1:37 pm
experimental experimentally. and we think that the antibody is going to lose activity, and we believe it is going to be against this and all future variants, and so you have to remember that this is the tip of the iceberg and letss than one f 1% of all of the viruses have been sequenced, and so what we are seeing is the beginning of what is a large number of variants that can evade many of the treatments, and we are hopeful that 7831 is effective against not only the current variants but future variants as well. >> that is scary to think about, and you may have the phase three data available soon and when are you expecting that >> yes, we are excited, because we have two phase three studies done. one is called common ice to test the antibody to reduce hospitalization and death in the mild to moderate outpatients,
1:38 pm
and the second is being done in hospitalized patients as part of the active which is the nih-sponsored trial. both of the trials will have meaningful data very soon now, and technically we have said this quarter, but we are hoping earlier in the quarter. and so, we are pretty excited about the potential of the antibody not only resistant, but in contrast to some of the other antibodies not only being a potent neutralizer to block the ability to enter the cells, but to be potent to kill the cells that are effective, and emerging from the academic labs to say that the second property which our antibody has strongly is really important to maximize the therapeutic efficacy and so we are excited to see the data. >> so do, you expect that your
1:39 pm
antibody is going to be working better than the antibodies that are already on the market? >> yes, we hope that based on the preclinical data and what we have seen so far, and that is a possibility, and of course, we will see when we get the data, but, yes, it is designed to have substantial advantages over the other antibodies in development. >> george, that is time that we have and you have to get to the presentation at jpmorgan and we will be listening and thank you for being with us, and we look forward to phase three results. thank you for being with us. brian, back over to you. >> thank you, meg terrell. thank you very much, and bringing us the guest, all right. so sticking with the topic of the vaccine, because one of the biggest issues that we have seen is how slow the rollout has been in many states when it is coming to getting the shots and into people's arms, but it is not going terribly everywhere. earlier today, hhs secretary azar praised two states for the
1:40 pm
efforts. >> leaders in some states have forged ahead with steps like this in very diverse settings, and demonstrated real success. i'll mention a couple like governor lamont in connecticut and governor justice in west virginia. >> well, with us now is one of those states is dr. claymarsh, covid czar and vice president of west virginia university. doctor, thank you for joining us. you know, your state, and i mean it with respect, because i am from winchester, virginia, and i could hit a 3 iron into west virginia, and it is relatively small geographically, but it has a lot of independent pharmacies, and the mom and pops that used to be everywhere still exist, and in places that, you know, like morgantown, and berkeley and others and how much has that been able to help you the streamline this important process? >> well, thank you, brian. and we certainly are very proud
1:41 pm
of the fact that we have been able to immunize over 85% of our citizens with the first doses that we received from operation warp speed. so certainly as we are looking at the supply chain to be able to handle the vaccine, we immediately targeted pharmacies is and pharmacists to protect the vaccine s and also as you point out, we have over 50% of the pharmacies in west virginia that are privately owned, and so we put together a network of all of the pharmacies that reached every front door in the state of west virginia. >> how much are left, and where do you stand with the current dose, because we showed it on louisiana on the ground, and in "the new york times" in new york state, are you having to throw any away >> we absolutely have not, and we have allocated every dose that we haven't vaccinated in
1:42 pm
somebody's arm, and we have again, 85% of the vaccinations that we have received or first dose, and we have immunize and we have put it in somebody's arm, and 83% of the doses that we have received for the second dose are in somebody's arm and we will have finished the nursing home population by the end of the month, and that is t 70% of west virginia's death, and sorry, 50% of the west virginia's deaths are in the nursing home residents and 77.5% of west virginia's deaths are in folks 70 and older. so we are targeting these population, and we have no vaccines that are going to waste. and we have had a critical mistake sort of form as we have ra single dose of vaccine that is not administered in somebody's arm. >> and this is an uncomfortable topic, and it is a bioethical
1:43 pm
decision, and i will bring it up, because it does matter, and west virginia is a highest rate of obesity and next to age, weight, and obesity and all of the things that go with it are the second highest comowed by y and how do you manage the decision of how this goes? >> well, that is a really important question, and certainly, we have taken from the advisory committee on immunization practices from the cdc andother countries like th u.k. and from our own epidemiology data, and we know that morbid obesity is a substantial risk factor for severity of the illness from covid-19, but looking at the data from the cdc, we know that in comparison to 18 to 29-year-olds, age is really the most important predictor, and so
1:44 pm
that people that are 65 to 75 have a 90 times risk of death, and five times risk of hospitalization from 18 to 29-year-olds with covid. adults that are 75 to 85 have a 20 times risk of death and 8 times risk of hospitalizations, and over 85 have a 630 times risk of death and 13 times risk of hospitalization. so while we are certainly looking at other comorbidities as you suggest, and morbid obesity is an important one, we are targeting the people in the older age ranges, because we have found in our own epidemiology information in west virginia, that's the group that is dying the ost. >> it is. it has ravaged the elderly and dr. clay marsh doing it the right. and make sure that the teachers are up there on the list, because we need the kids back in
1:45 pm
school, and the inequality gap is coming in the next five to ten years and that is for a different talk and argument, and thank you, dr. clay marsh. >> i will. thank you. and now, oil staying red hot, and the stocks are on fire, and what names may have value for your hard-earned investment dollar goldman sachs' brian singer has the latest. and now, how will renters and landlords get the relief money diana olick is up next with the answers.
1:47 pm
1:48 pm
32 Views
IN COLLECTIONS
CNBC Television Archive Television Archive News Search ServiceUploaded by TV Archive on