are not decidedly green is darn good. >> it is not just consumer related either some of the stocks that hit fresh highs today have been industrial names, deere, carrier, fastenal. going back to shake shack, how does that speak to the fact we have been seeing positive preannouncemen preannouncements. >> it is a company that needed to good to see it. >> i guess we will celebrate with a burger. thanks for watching "power lunch. "closing bell" starts right now. >> thank you morgan and josh welcome, everyone, to "closing bell." i'm sara eisen with wilfred frost as always. major indices mostly flat but sharp moves within individual sectors. the russel is surging up more than 1%. what's driving the act the house moving forward on impeachment plans. the white house announcing plans to accelerate vaccine delivery in stocks, tesla snapping back as well.

but bitcoin -- as well as bitcoin. but overall growth is underperforming value today. tech has been losing steam throughout the session the top performer is energy. names up 3%, occidental and apache, up 10% financials, other cyclicals, they are also not doing as well today. the dow is up about 56 points. the russel almost a percent and a half we have 59 minutes left of trade. we saw an intraday hey on -- as well as the transports. we will speak with the ceo of curevac which is working with farmer john buyer on a coronavirus vaccine. we will also talk with the leader of lab corp. about the latest on the testing front. first the big stories we are watching mike santoli is tracking the action for us. steve liesman has the latest information from fed officials on the state of the economy. and kayla tausche has details on new covid-19 guidelines.

mike, let's check in on the mark the s&p bang on flat. >> under the surface, though, strength more stocks up than down equal weight s&ped doing better than the market weighted version. if this is the way the market cools down over a somewhat overheated state it is benign i would say. you had this lift up here. the past four days the intraday high in the s&p has been between 2 3800 and 3820. i want to take a longer look at the s&p 500 to capture two prior post election years. 2015 and 2017. they didn't let you in the you were waiting for the pullback. be careful that you don't exclude the possibilities that

we have one of those calm uptrends developing in 2021. you had the same thing in 2017 you had this sort of chop, chop, chop, a little bit of a surge at the end of 2016. then this was little peak at the beginning of 2018. low volatility, up trends. and massive chop in this election year, 2020. this is a steeper angle. you would imagine you have to if nothing else settle back in terms of the trajectory. but just in the interest of looking at all sides here you have to consider we have some similarities to those environments finally bonds. this is the etf that tracks long term treasuries. it is an unly looking chart but it got very oversold and bounced intraday as yields calmed a bit. as oversold as it has been since that point in 2018 by some measure. even if you have a bown in treasury prices and yields back up a little bit it doesn't mean the trend is over. it just means we are due on a

trading basis for bonds to bounce a bit. >> ten-year got up to 1.17 now at about 1.14. the theme intraday has been more buying the dips than the opposite particularly the cyclical names like oil and banks as sara was saying at the top. the other clear thing today intraday particularly this afternoon has been the dollar weakening. even if we thought we were due a short-term bounce it sold off the last two sessions. >> it did. when yields versus pulled back a little bit you saw some of that activity nothing has really changed in terms of the ultimate drivers of what has been working and what wasn't been working in this market we remain on alert for any of those inflection points. but at this point the inflation trade still seems to have legs the bond market is part of that and the somewhat still weakening dollar is also part of it. we will see if we get to the short-term limits of all of those factors.

the ten-year yield hitting its highest level today since march. how with federal officials weighing the move in let's bring in steve liesman with a lot of fed speak today. steve. >> sara, several fed speeches today. you know what, very little if any give on their attention to key policy, ultraeasy through most of this year despite the promise of an economic rebound that will be brought on by the vaccine and a ten-year yield that is comfortly above 1% in or little change at all in their asset purchases any time soon in clearly in the current environment, where the economy continues to heal, i think an accommodative policy stance is certainly appropriate. it's too soon to speculate about the timing of any change in that stance >> several fed officials said they expect higher inflation this year. and jim bowler said a ten-year above 1% is a sign of confidence

in the economic outlook. george said inflation running above 2% was not a reason for the fed to change course some officials left themselves some wiggle room adding it was too soon to tell if the fed would need to reduce their asset purchases. cleveland's fed said any change will be communicated ahead of time and not done abruptly. >> i feel like the inflation question is going to be one of the top ones of 2021 i wanted to get to rosen gregg again, boston's fed president. wondering if he is talking about the main treatment lending facility which they operated and was sort of a mixed success, right? >> you wonder correctly, sara. he made some pretty sharp comments kind of criticizing the end of the program, and saying it could have been much more successful but i don't think it is so much sour grapes. i think what eric rosen again is

saying he is sort of subtly supplying a blueprint to the new congress and to treasury secretary nominee janet yellen about how to fix the program and make it better he talked for example, about not making the banks take that 5% share but making them get paid if the loan purchases. and variety of other ways that it could have been fixed and made better to be a more successful program he says the absence of a loan program for medium sized businesses presents a chall emg to the economy. >> steve thanks. turning to the coronavirus and important new guidance from the governments regarding vaccine distribution kayla tausche has the details on that front for us. >> wilf, the administration is broadening out its guidelines for who should be receiving the vaccine in these early rounds of administering the shots after some bottlenecks were encountered by states focusing on health care workers and nursing home residents

earlier today health and human services with kprds and operation warp speed announced these new guidelines announcing that the vaccine should be distributed to anyone over the age of 65 or anyone between the ages of 16 and 64 who has a preexisting condition or comorbidity. they also said the entire supply of vaccinations available should be released instead of reserving doses to account for a second dose for those individuals who have already been vaccinated that aligns the strategy with the outgoing administration with the incoming biden/harris administration who has decided that's the way to do it. also, they are widening so people can get vaccinated at pharmacies and community centers in addition. some states are already doing this this is in essence a strategy to try to standardize some of the strategies across the board. the updated guidance would

include tens of millions of americans in this vaccination effort whereased a of yesterday only a third of vaccines delivered had been administered. earlier secretary azar likened it to boarding a plane who said just because you have an earlier cabin boarded doesn't mean you shouldn't start moving on to the next group >> the change of not holding back the second dose does feel like the most significant. it aligns the u.s. strategy a little bit more with some of those overseas as well as you said with the incoming administration on that point, are there other big factors that could still change in ten days' time or so and lead to another significant change in strategy >> i think the biden administration would say that the most important thing that they need to continue a smooth rollout of the vaccine plan is more funding that is something that we are

expecting to see as a key cornerstone of the new administration's coronavirus relief package when they unveil it later this week just today, the top senate democrat chuck shumer in a letter to his colleagues said that vaccine distribution is going to be a key priority for this next legislative session once they get the new democrats seated in their new positions. certainly, vaccine distribution is something that democrats are focused on they warned previously that without more funding that there could be hiccups in the rollout. so they are going to try to get some big checks to try to keep these channels open and running and get more of these shots approved, produced, and into the arms of people who need them. >> kayla tausche, thank you. after the break, finding value abroad portfolio manager david haro joins us with his top international stock pick and tells us the sector where he says a lot of growth over the

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u.s. equities outperformed international ones in 2020, but our next guest says he's still finding value abroad let's bring in david herro of international equity at harris associates thank you for joining us, david. are you still looking for the best values in europe? if so, why because europe is set -- its economy is set to contract again early this year. coul into double dip recession. had to go into extreme lockdown measures why invest there >> some of the various macro factors that provide investment opportunity. what we are seeing in terms of economic conditions should be somewhat transitory and short-term and they are enabling us to buy companies kind of based on the fear that's in the market, buy these companies at extremely low and discounted prices. at some point, europe will bounce back quite strongly we see what is happening in the uk the brexit situation is behind them a lot of these big picture items that were kind of wins in the

face of the geopolitical situation as it pertained to europe are now behind us and i think once we get these these pandemic spikes, the virus spikes, specials in places like the uk, you will see economies that have had substantial pent up demand as a result of some of these geopolitical european political issues you will see these economies take off and meanwhile, the stocks are priced to complete imperfection, will be the providing with us the opportunity to buy some really good businesses at very low prices. >> you have liked the european banks for a long time, david is that still the best place to be, even with the continued promise of stimulus, quantitative easying, zero interest rates, everything else that the ecb is going to have to do to get this recovery going?

>> yeah, we have been well invested in these things 2018, they helped us 2019 they hurt us. 2020 did not help much but now we see these financial institutions are in a very strong position to rebound why do i say that? over the last decade, they have built trillions and trillions of capital on their balance sheets, will be the putting them at or above the regulatory requirements that was capital that normally could have been used to extend credit or pay back owners. and now we are in a position where these financial institutions are in a position of excess capital where they can start growing their businesses they can start making bigger distributions to owners. number two is that i do believe we will see a rebound in the european economy and again, some of the factors i mentioned earlier about the political dynamic. a lot of these things are now in the rearview mirror. the pandemic, hopefully by the

time we get to the second quarter will be in the rearview mirror so we should see relatively strong both pickup and number three, like the united states we are going the see pressure on interest rates with all of this borrowing and all of this growth picking up and all the stimulus added i do believe that you will start to see, slowly, slowly pressure on interest rates, also being a very positive dynamic. meanwhile when you compare what is happening, what i just said w the prices -- many of these companies are still at 50, 60, 65% of book value and they should be able to earn well over 10% return on equity meaning you should have significant upside in these businesses so after a decade of capital build and slow growth, i think the factors that have hurt this sector in the past are now finally switching from head winds to tail winds. >> clearly there's a lot of catchup as you are suggesting that certain companies and

sectors in europe have to play what about if we talk about asia the ftse all world index is at record highs china has been very strong of late are you as bullish on those markets or not >> we are less bullish, especially japan japan is a market that has been somewhat artificially inflated by the central bank, by etfs very aggressively all throughout 2020 you have gpif the biggest pension fund a heavy buyer of japanese equities. japanese equities should trade at a discount? why? because the return structure of a japanese company is lower than its global peers in general. we can go into all the reasons why that's the case but it is the case an average japanese company earns just % or 8% return on equity as such they deserve to trade at discounts, not the premiums

which they are selling at today. this is completely different than u.s. stocks, which have a higher return structure and all always being call should trade at premiums. and european equities should trade at a discount to the u.s. not the massive discounts they are trading at today japan for instance, too expensive for us greater china region, we exclude a lot of china because of the huge amount of government ipo and involvement making it almost uninvestable for us. we do have some chinese stocks notice we do own some alibaba, and we own indirectly some pensive from mass pers many of the chinese tech sectors, special when you get to

electric vehicles, are way overpriced >> david, we have to leave it there. thank you for joining us. >> thank you for having me >> we have 40 minutes left of the session. we are in positive territory for the three major afternoons, and the russel as well, leading the charge, in fact, up 1.5% up next, death cutting ties with the president. two banks separating from donald trump following last week's capitol riots. details on the latest blow to trumping next. - i'm dough hirsch. you may already know that goodrx can help you save up to 80% on your prescriptions. unfortunately, many americans can't get

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in the latest hit to trumping two major banks are cutting ties with the president following last week's riots on capitol hill robert frank has that story. >> deutsche bank which of course has been trump's biggest lender for over 20 years now saying it is not going to do any new business with the trump family deutsche bank telling cnbc even though it still has outstanding loans of more than $300 million to the trump organization, those are personally guaranteed by the president, it won't make any new loans or deals with the company. at the same time you have signature bank, they are also a longtime partner of the trump family ivanka trump once served on their board. they are saying it is also cutting tie with the family n. closing their two candidates totaling more than $5 million also saying quote it is in the best interest of our nation and the american people. this of course follows the pga announcing that it is pulling the championship from trump's course in bed minister

also shopify ending its sales of the trump organization merchandise. every day, guys, it seems like we have a new announcement of a company distancing themselves from the trump organization. >> robert, when i saw the headlines particularly as relates to deutsche bank i was quite shocked. if you read the full original "new york times" article it seems to be clear this isn't suddenly cancelling all existing business but suggesting no new fresh business and based on conversations over past years during the presidency they haven't actually initiated fresh business with the trump organization or trump personally since he became a political candidate anyway so i think there is nuance within that. though, clearly, the theme, as you are suggesting, is clear and it might well be hard for the president to find places that are openly willing to do fresh business with him in the months and years ahead >> yeah, that is an important

nuance they are just saying no new business they of course have about more than $3 million of loans to the president. as well as they have been talking for months within deutsche bank about winding down this relationship after the election regardless what happened as you know, this has been a difficult relationship for them, all the publicity all the investigations so they had been saying for months, long before all this happened last week that they want to wind this down it wasn't really new it was probably accelerating it. and making it clear as an announcement as of today, no new business with the trump organization. >> sort of a weight off their shoulders. coming up on the show, shares of gm getting a bolt today as they ray the curtain on their ev what their ceo has to say on that straight ahead.

the ten-year yields hitting its highest level since back in march. though it has come off of those highs after we saw a strong auction of ten-year notes that went against the bearish trend we have been doing a lot of demand. investors scpi tseoongho ten-year notes up. we'll be right back here on "closing bell. - [narrator] at southern new hampshire university, we're committed to making college more accessible

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i'm proud to be a part of aag. i trust 'em. i think you can too. call now! 31 minutes left in the session. here's a look at the markets the high of the session on the dow was 92 the low, down 120. we are currently up about 67, or .2% all four of the major averages are higher let's have a look at individual market movers. shares of fubo tv soaring after announcing its buying victory tv a sports book is expected to launch by the ends of the year that stock up 30%. it has been all over the place lately ubs upgrading wells fargo from buy to neutral it is their top pick that stock is up 2.5% today.

could argue that the call is coming a little bit behind the initial move wells fargo is up some 32% or so over the last three months, sara >> yeah, investors warming to the banks for a change time for a cnbc news update with sue herera hi, sue. >> hi. sara good to see you. here's what's happening at this hour, everyone gary genzler is going to be president-elect biden's choice to head the fcc. he imposted tough rules on wall street after the 2008 financial crisis the "associated press" says gormer michigan governor hillary clinton snider and his health commissioner will be indicted after a new investigation into the 2014 lead contamination of flint's water system. a federal judge is delaying the planned executions until mid

march to give them time to recover from covid-19. the reprieve could become permanent because joe biden opposes the death penalty. former minneapolis police officer derek chauvin who was photographed with his knee on george floyd's neck as george was dying will be tried in march. covid conditions limit mound people will be in the courtroom. >> sue, thank you so much. see you next hour. 29 minutes left in the session. we are higher across the board russel is up 1.5%. the federal government changing course now making covid vaccines available to everyone 65 and over. we will have the latest in the vaccine rollout when we return here on "closing bell.

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25 minutes left of trade

dow is up 57 time now for your daily coronavirus tracker. china imposing new coronavirus curves in areas near beijing today putting nearly 5 million people in a city under lockdown. it is the latest rounds of lockdowns as new invexes raise worries about a second wave out of next month's lunar new year. meantime, 4.5% of the adult population have been vaccinated in the u.s 25 million vaccine, though, have been distributed according to the latest figures from the cdc. the pressure is on for vaccine makers as more people become eligible to get the vaccine. earlier on "squawk box" pfizer's ceo speaking about ramping up manufacturing. >> when it comes to our ability to manufacture, yesterday our partner already announced what i am going to announce also myself today.

this year, up to 2 billion doses. we are confident we can deliver that. >> let's continue this discussion good to see you dr. glanville. thank you for joining us again let's start on the rollout of the vaccine, if we may sara had the numbers there 25 million distributed only 9 million administered. is that disappointing? >> hi wilfred. obviously we would like to see more of these vaccines in people it is a logistical challenge, bureaucratic at the level of the individual states. but these are the kinds of things that will get sorted out over the next weeks and months i am confident we are going to

be addressing the distribution challenges then we get into the manufacturing question and finally convincing people to feel comfortable about being vaccinated >> we saw that change in position from the hhs secretary earlier in terms of no longer holding back second doses from being used for people for first instances. does that make sense to you? >> you know, it does the advantage of not holding back the dose is you can give more people their dirs dose faster that's based on a calculation that they are going to produce more, this is more in the pipeline and that's reaching out. so rather than holding onto doses you can give more people their first dose this is based also on the estimates by the vaccine companies that they are scaling up their manufacture so i think it is a good idea. >> this is going to be challenge for biden administration after inauguration next week he and his team are going to be in charge of distributing the vaccines at a larger scale is there anything they can do --

they talk about a different approach, but is there anything they can really do differently than the trump administration given that it is being administered and regulated by the states >> you know, that comes down to the balance of state power versus federal power i think there are more things they can do to provide logistical support services. i think it is incumbent on them to make sure there is lot of vaccine, it is distributed out to where people have access to and it support the states in helping out with policies. i think the policies also are going to get easier. so far we had an additional challenge. we wanted to prioritize giving these vaccines first to front health care workers and the elderly. after those are relaxed it is easier to say it is a free for all, anyone who wants one come in and that will speed up the distribution of the vaccines. >> are we past the worst the covid deaths >> no. unfortunately. we are still in the growth

phase. the good news is that the vaccines are very effective. in particular, the pfizer biontech and the moderna vaccines are about 95% effective, which is really good for vaccines and they look quite safe of that's good news you are going to get everyone vaccinated but the problem is, we are just constantly accelerating the number of new people that get infected and it is going the take some time before the wave of vaccines -- the number of people that are protected by vaccines are going to significantly impact and slow down the progression of new infections unchuptly for the next few months we are anticipating to have very heavily impacted hospitals? we are also watching these variants, the mutations. there is one in asia now the uk one the south africa how likely is it that we could see mutations for this covid-19 virus that do escape the vaccines and the antibody treatments that we have on the market now and how difficult would that be? >> sure. we are all paying a lot of

attention to these this is where i have mostly good news but also a bit of a word of warning. the major mutations -- the escape variants -- the mew tapts that the people are concerned about are the uk strain which seems like it proliferates people and infects people more rapidly. it seems to also be happening with a south african strain and also a variant that appears to be occurring in japan. the truth is as you have more people infected you will emore mutants and more of the strains will pop up. so far they appear to be more infection the u.s. husband is but not enough to where the vaccines will stop working eventually with enough people infected this of course is the risk, that there would be enough mutations that the vaccine would be less effective. we are paying the most attention to the south african strain. it has three mutations on the

spot that the vaccine newly tralizes that's the big concern the best thing we can do is get as many people vaccinated because then there is less people getting infected and less new chances for the virus to mutate >> dr. glanville thank you. >> thanks for having me on. up next, shared of lemon aid cooling off. and a new gm vehicle brandt. >> a reminder watch or listen to us live or on the go on the cnbc app "closing bell" will be right back

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15 minutes left in the trading day. we are back after this we are now in the "closing bell" "market zone. commercial-free coverage of all the action going into the close. cnbc markets commentator mike santoli leer to break down these crucial moments of the trading day. all four indices up. mike we mentioned it earlier, the charts show it, buying the dips over the course of the last couple of days, we are still down week to date, just about, but some decent intraday business stepping in >> sure. last four weeks the low for the week was intraday on monday. that didn't happen this week because today's low was a little bit below yesterday's.

that's short-term tactical stuff. you could view the behavior as benign, constructive it is broadening out, the majority of stocks are up. it has a cyclical tone we are still kind of reinforcing this idea that the market is positioning itself for a better economy. the other thruster of this market has been the crazy disruption trade anything that seems like it is the next new thing is flying today. electric vehicles or fintech stocks also penny stocks. we will see if any of it comes to a break point, but right now it is holding things together. >> and energy. traditional energy names are soaring today. the group is up almost 4% year to date now. hasn't been that long, but it is up 15% technology is weaker is that a place that you are telling clients to buy >> that's right, sara. i think it has been a very strong start for energy. not every year would we ever want to make the call to say buy

energy i think this year might be an exception as we look to more cyclical asets, as we look to add procyclicality to the portfolio. last year it was logged down complete lockdown in terms of mobility we weren't driving, flying, weren't going places hopefully within a few months we will be venturing out into the world. with that pickup comes a higher demand for oil, the transportation fuel. it is not so much about the anticipated demand, but it is about supply demand in this very moment last year we were building inventories. this year we think we are going to be drawing more than 1 million barrels a day every quarter. demand is higher opec is going to raise supply but not to the same extent everyall balances should be tightening that's why oil and energy equities have been having

a good start we would definitely be looking at it especially from commodity side i think more and more over the next quarters as all this money from fiscal and monetary stimulus hits the market oil and energy plays fit that very well. gm is announcing a a new brand. >> it is called bright drop. it will be developing and selling electric vehicles primarily focused on the commercial market. this is a commercial electric delivery van the first of them will be delivered later this year. 500 going to fedex this is all part of gm pumping $27 billion through 2025 into electric and autonomous vehicles 30 new models by 2025, including three this year. gm as ceo mara barra heard the

complaint that the they are not moving fast enough but she says you have got to lay the groundwork first before you can come out with the vehicles. >> we wanted to make sure we had the platform and the ltm platform allows us to efficiently put a be in of vehicles on the road that are evs. would i love to have more? sure but this work started several years ago. >> keep in mind as you look at shares of gm, which are now at a record high, we are talking about since the return to the market in 2010 after the government-structured bankruptcy keep in mind they have three evs coming out this year they aat ae going to get a lot of attention including the cadillac ev suv as well as the hummer >> do these official names like gm and ford ever start trading like ev makers >> not precisely like them, but

i think what you are seeing today is gm starting to get credit for being in the right place, having a plan and having a strategy and being able to participate in the next phase of the industry it also helps that the traditional auto market is relatively strong, there is tremendous demand. used car prices are way up that's a huge tail wind for their business a lot of thing are working it is ten times forward earnings, it is a cheap stock. it is not valued anything like tesla is but there is a sense that it is not a structurally hobbled company that is going to be left in the dust when the industry goes to its next face. >> an stasha do u.s. vehicles fit into that underperforming cyclicals you are attracted to. >> autos didn't do badly in 2020 because it was buying and house and buying a car that was part of the same trade. i do think it fits into the cyclical bucket. not only do you want to buy autos. i think you want to buy the

likes of the auto makers and the battery makers taking us through the next several years and overhauling themselves to be these electric vehicle companies. i do like the auto sector particularly with a combination of the move towards electrification and the move to a better consumer backdrop in 2021 as well. shares of lemon aide lower after announcing a 3 million share secondary stock offering the cofounder out with a shrew of tweets yesterday criticizing they gotive content and short traders. he deleted those posts and apologized this morning saying he quote must have woken up on the wrong side of the bed. mike, all sorts of possible factors explaining that tweetstorm, and deleting of it including getting up on the wrong side of the bed and thereafter correcting it but interesting timing. >> it has become a battleground stock. i think part of that response reflects the fact that you have

venture capital founders of successful ipo companies -- the stock more than quadrupled in two and a half months. it is not a stock that has struggled. yes there is a big short market because if you value it like an insurance company, it doesn't make any sense in terms of the market cap to its writtens but if you val it with an esg tilt to it and a very young customer base all of a sudden it is magic they did this secondary. the stock absorbed it okay and let's go to our neutral corners. >> it really came off the lows i he no you don't speak to individual stocks but it speaks to the ipo appetite, the growth themes that investors are looking for. also the surge in secondaries. what does it say to you about the overall market >> i think mike pointed out that a company like that fits a lot of different boxes, the growth, the secular tendencies of the stock.

the esg angle. i will say the space in particular, fintech and using technology to deliver more and more financial services is very attractive to us there is companies globally like this one that are finding better ways to do traditional bank organize insurance business by using technology like chod bods, speaking of that, the conversational commerce is something we focused on for some time because the number of industrial robots is going to grow tenfold or more over the next several years. i think they are in the right space and investor appetite continues to be there. e-commerce grew 32% over the holiday season retail stocks significantee outperformed the broader market. the xrt up 11% in 2021

another 12% move for etsy mike at the top of the s&p 500. you wonder just how much of this is already priced into these stocks, which were a big part of the 2020 rally off the march lows already. >> 100%. i mean it is very difficult to really frame it as something that the market knows anything really about these businesses except rewarding them for being in the right place during this period and being able to retain a lot of the customer flow plus the backdrop of the fact that we keep talking about more than $1 trillion of unspent, in aggregate consumer savings that in theory is going to be unleashed in the coming months and quarters i think that's giving a tail wind in general to this trade for consumer leverage names in the new mode but it is difficult to say whether the market is doing anything but just sort of jumping a the buzziest names in an area with tail wind.

>> what ha amazondone >> intraday it rallied bounced when the rest of the mega caps didn't when when bonds recovered, the ambiguous cap growth stocks got a little bit of reprieve i think people have been looking at amazon and wondering if there is just something else going on here in terms of the market's assessment of their fundamental outlook or if it is just an overowned stock that has a digestion period after a long run into labor day. >> tapestry. what part of retail do you want to be exposed to etsy, stitch fix, which are rallying today or more brick and mortar which could play catchup once people get vaccinated. >> i think that's the question, where in retail you want to be exposed.

i think there is some risk embedded in some of the on line names which we just showed retail spending has not been all that bad last year in fact it was great for some of the on line names. as we venture out i do think brick and mortar is going to do much better. the landscape is better. you look at the savings rate, the fiscal stimulus we continue to add to the economy. you look at the jobs market and we think we are going to get closer to 5% unemployment rate by the end of the year i think constructive for retail but much like everything else in the broader market there is a rotation ready to be had in retail as year in mike, the ten-year is 1.14 it was 1.17 earlier in the session. yields have risen a lot over the last couple of weeks should all of the people that suggested that will compress the nasdaq p/e multiples be worried having not seen a bigger

pullback in the nasdaq. >> i think the level right now is not so threatening and real yields are still negative so the backdrop is okay but real growth stocks haven't gotten out of their own way. in general it has stalled their progress if nothing else and certainly maybe give the idea that they have reach for the short-term maximum value -- of course they are still to grow earnings for the overall market the level right now not much of a concern in terms of yield but the velocity of the move is always the thing that takes the market by surprised destabling, people feeling trapped, having to reposition quickly. so far i don't think we have seen that and you see the moderation in yields one final point. the u.s. is 40% of all the yield available in the world at certain yield levels overseas investors are going to want to capture some of that as yields go up and they will probably

stall out the increases for a while. >> two and a half minutes or so left in the session. what are the internal telling you? >> sturdy all day. look at the split on the new york stock exchange of up versus down volume. even when the s&p was at lows earlier, 60% of volume to the up side now it is better than three to one upside to downside volume. by the way a lot of the share volume figures are being skewed by wild action in either penny stocks or things like neo, the chinese ev maker nonetheless, the tilt is without a doubt to the positive side did want to take a look at consumer discretionary against consumer staple. this is on an call weighted basis so you don't get turned around by the flunz of amazon or other huge stocks. clearly a cyclical tone. consumer discretionary up almost 2% staples down 1.5, that's a message the consumer market has been sending

the volatility index, more elevated than you would think. it was around 25 earlier now down to 23 people hedging away some downside as we get into this inauguration period. people thinking we could get a first quarter pullback sara >> we have lost sara's mic briefly. let's have a look at the markets as we approach just one minute left the dow is close to session highs, up 98 points. the high was 103 just moments ago. the low of the session was down 120. we are comfortably away from that all three of the major averages higher by about a third of a percent for the dow and the nasdaq s&p.2% the russel leads the charge up 1.8% sectors, it is the cyclical leading the charge energy up 3.6% materials up 1.4 industrials, financials, consumer discretionary all up there as well.

more than 1% higher. communication services, health care, tech at the bottom of the pile oil up gold up .3%. and the dollar weakened significantly throughout the session, ending around half a percent lower. the ten-year yield higher, but off its highs. got up to 1.17 1.14 at the close. at the close s&p up .1% dow up .2% nasdaq up as well. welcome to "closing bell." i'm wilfred frost, sara eisen as well, and mike santoli, cnbc senior markets commentator as well the dow only up by 60 points we lost 40 points in the final ten minutes or so. as you can see, well off the lows of the session. .2% of a% for the dow. nasdaq up a third of one%. and the russel up 1.8%

coming up, the ceo curevac on the company's new deal with beyer. plus the outlook for covid testing when we are joined by the ceo of lab corps. >> anastasia amarosa from jp morgan is still with us. robert nobles joins the conversation first though we will send it to you, mike on what the action told you today, especially seeing cyclical groups like energy outperform commodities had a good day, the dollar weaked tress res were up. how does it all add up. >> higher yields, lower dollar, better kinds of traction in some of the cyclical trades everyone seems to be pretty much on board this train. i think it is a little bit of a sort of a factor stampede, people grabbing at those investment factors that are going to be able to seize on this idea that you have stimulus coming and you are going to have

a post vaccine economy, things like the sort of volatile cyclical stocks that almost never perform better relative to stable ones as they have recently i think that's the message we had a generously overbought market coming into the week. we metabolized it by having huge stocks doing nothing and backing off and the average stock doing well today >> robert, the likes of energy, banks, the cyclicals, do you like them? are you fearful it has become too much of a consensus trade right now. >> thank you for having me on, wilfred. we liked them both as a part of a diversified firework of the two we would take the financials, the banks. the banks have nowfaced the worst case scenario as far as the health cries and the shutdown

energy, the price hassed of mo up but at some point we believe competition will flood back into the market due to the fact of the fracking where on the bank side you have the option the release reserves for credit, potential credit losses that did not occur. the option the buy back stock, maybe increase dividends and if need be, buy another bank or merger. we think there is more upside potential on the banking side relative to energy but we would include them both in a portfolio. >> while we are talking about what worked today, energy, financials, anastasia, and small keps caps, russell 2000 closing at an all-time high again today. the third time in the last five sessions that was always the place where investors weapon for value to play catchup on some of the cyclical names is that still the case, even with the russel's big surge? >> yeah, that's right. all of these ideas we just

discussed, whether it is energy, whether it is small caps, bank, they all fit into the category value. we think they fit into those trades especially through the rest of the year q 1 may be a little bit stretched but when we look at the rebound in gdp that we expect to take hold in q 2 and q 3 that is what you are investing in these value trades for. i will throw one other idea in here, emerging markets we have not yet talked about it but talk about a sector highly leveraged to global growth and commodities, that's emerging markets. all of a sudden we have a better global backdrop. china has already rebounded. you think about the rest of the emerging markets a lot of their growth is tied to china. i like the fact china has already been on the upswing and some of the emerging markets are

doing well because of that then you add on top of that the developed market rebound, i think you have a good runway here for emerging markets. >> does that call, anastasia, only work if the dollar continues weakening or if it just stays at these lower levels compared to recent years can emerging markets company. >> emerging markets can perform if the dollar stays around these levels and it is not predicated on further dollar depreciation here we have seen emerging market currency stabilize they are not falling so it is really now about return to growth and getting back to the commodity story. some of the investors don't want to invest in commodity oil itself the proxy for that, still, is emerging markets, in the likes of russia for example. so it's not just a dollar weaker story. it is really a growth rebound here. >> what about technology where does that leave us, robert, in terms of the big outperformers, the faang names,

over the last year, and the ones that typically do well when we see worries about covid, custom is still very much a problem in this country and abroad? >> sara, we love technology. it's still a major part of our portfolio. technology is the bedrock of our economy as far as payments, digitization, you know, artificial intelligence, and the like so we would not give up on technology they might not have performed well recently but they are still the secular growers. and that is where you want to be when this pandemic trade over. i mean the value names are going to work for now. but longer term the tech names, consumer spending will be fantastic. especially as the consumer's mentality changes and business's mentality changes as the vaccinations take hold we don't think we need to get to 100% vaccination rate or even 50%. maybe just a third

and by that time people will be more willing to spend. technology is not just in tech tech is across a lot of different industries shot clock likely to be the next industry that gets tackled and costs get driven lower you have seen what's happened in consumer spending on the retail side we think technology is a must-own in this environment and we are very comfortable how the economy is going to perform in 2021. >> microsoft, facebook, alphabet all underperforming today. micro lending company affirm is set to price its ipo at any moment leslie picker with a preview what can we expect i am hearing from a source close to this one that affirm is looking to price at the high end or above the range that's range that the company boosted just yesterday at that level affirm would be raising over $1 billion in an ipo at a valuation of $11 billion. affirm allows for the buy now

pay later commerce and sits along popular investing themes including e-commerce and that of millennial purchasing power specifically in that demographic. now customer concentration is a key risk here. it is what a lot of people on the street are talking about its merchant partner peloton represented 28% of the firm's revenue for the fiscal year through june >> i have a question, leslie does that mean that a lot of customers buying peloton are buying it on credit installme s installments what does that tell us about the customer base of peloton, if anything >> yeah, no. they offer this 0% apr financing through affirm a lot of people are making these big ticket purchasing items through this platform because they don't have to pay any interest unless they are late on those payments but they do occur on a regularly installed basis. yeah, i think that's an increasingly popular end from. it is something peloton has offed for years.

it has been a key customer of affirms. i think it does say a lot about the way people are spending money as they pursue big-ticket items this year. >> leslie thank you. mike santoli quickly on this one in terms of what we can expect in the first day or so of trade. if recent ipos in this broad space is anything to go by it should be a hot one. >> you would think so. it has so many things on the checklist. it has the young customer base anything about digital payments is in the forefront of what's going on in terms of this market rally for a while now. linking up not just with peloton but other e-commerce brands, it is in the right place. this market is in a generous mood when it comes to these long term growth stories even though ultimately it is a consumer credit provider and you can look at the traditional ones that trade at rock bottom valuations this market makes a massive distwings whether it is digital first or not. >> moderna closing higher by 6%.

meg tirrell caught up with the company's chairman this afternoon. what are the highlights. >> i spoke with the capital venture firm flagship's head, who is also a chair on moderna we talked about how the company could pivot if it needed to based on what we are seeing with new variants or maybe one we haven't seen yet here's what he said. >> we very much are paying a lot of attention doing some research on seeing whether the current vaccine can show least efficacy invitro and then in animals, et cetera but also looking at what would we do if eventually there was a significant challenge from an escape mutant. i think there we will continue to do the work my guess would be that we would not go any slower than we did the first time around, where we had a sequence converted into the mrna ready to go in two days

and then within 40 days could inject people. >> guys that was a record time that they developed the first construct, saying weeks, not months if they had to do it again. that matches up with what we've heard from dine tech, which estimated maybe six weeks to come up with the new vaccine then of course it would have to go through the regulatory process. that is a heck of a lot faster than anything else in his tremendous. >> certainly is. kudos to people working in those areas. do you think the market now, almost regardless of any headlines about hospitalization rates or deaths, will look through that to the other side when people are vaccinated now. >> the market is definitely looking through to the other side obviously we know the pace of vaccinations has been slow i think the market is expecting it is going to pick up and we agree with that. i want to pick up on the comments from moderna that meg also just made it is stunning the progress that

we have made on this mrna technology in the last 11 months it does mean that whether it is covid variants or other diseases, this technology has a great potential to develop future precision medicines for a variety of different treatments. so i think the market is actually encouraged by the confidence we can have in health care innovation. i think that's one of the reasons we are looking through to the other side. >>ance tashia and robert thank you for joining us much appreciated. up next the ceo of curevac on the company's new alliance with beyer and when its experimental coronavirus vaccine could become available we are back here in 90 seconds ♪ ♪

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it helps with occasional joint stiffness, while it nourishes and strengthens my joints for the long term. osteo bi-flex. because i'm made to move. german biotech firm curevac announcing last week it is partnering with bayer. they use similar technology to one developed by moderna and biontech joining us, ceo of curevac thank you for joining us how does your vaccine compare to the ones we are seeing administered in terms of efficacy and everything else we are following. >> thanks for the question we are also working on mrna

technology we are using it slightly different than biontech and moderna because we are not using chemical -- we are in a trial base three which is recruiting heavily right now. we are expecting to have an interim read out towards the end of the first quarter and then going straight into the approval process. which hopefully, based on the data, of course, which we expect to be also with a high efficacy with what we see with biontech and with moderno so the expectation is high because we are all working on mrna especially what we are producing at the moment is already at risk for the case for success, which means good data and fast approval into now that you have partnered with bayer to get more manufacturing done, how many doses are you going to have in production where are they going go?

have you signed any deals? >> certainly, the collaboration with bayer helps us to -- you know, to bear this heavyweight of 36,000 subjects to be recruited in our trial then certainly deal with all the lomist heics therefore, especially the pharmaco -- to track the people after approval. that's a huge effort as i said we are producing at the moment already at risk, we are calculating about 300 million doses if we find new capacity we will add to this as well we have an agreement signed with the european commission on 225 million dosages with an option of another 1-800-additional dosages. certainly we are in collaborations to al gate additional dosages. >> is that with the eu direct

rather than individual eu member states do countries like germany where you are based get early amounts of the dosage. wilfred, this works with the eu commission like that that the european countries really have a common effort to this one. first of all, the apa, the advanced purchase agreement is with the eu commission then it is allocated among the different members states of the eu and other countries there as well they have an internal key how they allocate it and there is a distribution plan for this one to all the different countries involved >> the standard refrigerator temperature part of your vaccine makes it a little bit easier, say, than the pfizer's just this mrna technology has obviously proven to be a game changer. but it's brand-new are there long term side effects from these vaccines that you would worry about or watch for in the broader population? >> i wouldn't call the mrna

technology brand-new at curevac we are dealing wins 2006 with mrna and 2006 producing it and since 2008 running clinic can go trials with mrna. the technology -- as always the technology needs time in order to get to applicability, broad applicability. we haven't seen any long term side effects which is due to the fact that as soon as the mrna has gone into the cell and delivers the message taken by the ribosometimes and then is transcripted to the proteins the spike protein, the mrna just disappears there is no way that we could consider long term effects nevertheless, that's what i am trying to say earlier we are following up with these kinds of subject treated and also with these even after approval to see are there any effects. and this data will be collected just to be on the safe side.

>> ultimately sum it up for us when is your timeline expectations of when you hope approval might be reached both in the eu, and here in the u.s. as well. >> well, we are having the interim data plan towards the end of the first quarter this year and then going rapidly -- as we talk now we are certainly in conversation with regulatory thoorts to get fast approval depending on the data certainly. again we have very ho hops. >> thanks. much appreciate it. now to breaking news on visa kate rooney has the details. >> reesa and plaid are terminating their $5 billion merger that just out here. this comes after the d.o.j. sued to block that deal in november visa's alkyly saying in a statement just now they are confident this deal would have prevailed in court as the details of plaid are complimentary not competitive.

they did say, however, it has been a full year since they first announced intent to acquire plaid and it is a protracted and complex litigation that could take time to fully resolve again this deal announced almost exactly a year ago, january 13th of last year plaid last valued at $5 million, now a free agent and no longer merging with visa. >> mike, having just talked about a firm and the attractiveness to the market of these types of companies, it's a tossup whether plaid is going to be disappointed ultimately by this breaking down. >> you would think mark to market of what all the other fintech type payment stocks have done, ultimately they have only gone up. having agreed to sell at a certain price a year ago maybe they get more by going public.

longer term there is a question about traditional processors and their ability to jump into the newer areas. maybe for visa it was a bit of a dead-end they ran down in this instance and they have to face the idea that they are somewhat being sidelined into terms of the growthiest parts of payments but they can handle it up next, mike is back to look at whether value stocks could be on the verge of a breakout as we head into earnings season. tcorisn ulier wah ltetos ve or on the go on the cnbc app we'll be right back. voya doesn't just help me get to retirement... ...they're with me all the way through it. voya. be confident to and through retirement.

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go online to transfer your services in about a minute. get started today. shares of urban outfitters sink josh lip ton explains why. >> saying here the total company net sales for two months ended december 31st decreasing 8.4%, retail net segment sales decreasing 9%. changes in the c suite as well trish donnelly leaving the company january 31st to pursue a new career opportunity we are sold sheila herring ton is going to become control stock is down about 11% right

now in the after-hours. >> it has had a strong run-up over the last few months. back the mike santoli right now taking a look at earnings expectations specifically for value stocks. >> the value of value stocks look at the s&p 500 value etf. it made a round trip just about to that precovid level that's recovery story. obviously more cyclical than value. look how it compares in terms of forward pe right now not outright cheap close to 19 times earnings as high as they have been several years. on a relative basis still at a discount because the overall s&p is at a 20-year high in forward valuation. everyone expecting a snapback next year. dividends. dark horse that people could start talking about. even as value goes growth in

dividends are a symbol for higher quality profile. an earnings alert on kb home diana olick has it for us. >> nice beat for kb homes. earnings per share at 1.12 versus stichlts 93 ceo jeff metzger said housing market conditions continue to be robust as the pandemic has helped propel demand for ho homeownership accent weighting all the safety and emotional benefits it overs. the average selling price also up 5%. housing gross profit margin was projected a favorable environment due to rising demand there was no mention of sticker shock which we had heard recently from lennar and toll brothers that some buyers may be

pulling back because prices were too high kb is on a a lower price spectrum but no pulling back according to the ceo and the cancellation rate also dropping to just 14% it is usually higher than that a nice beat. >> thanks for that. >> billionaire casino mogul shell don addleson has died at the age of 87. up next one of his top lieutenants on the legacy he leaves in las ves, wl regaalstet and beyond we are back in a couple of minutes. stock slices.

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laeg sands chairman and ceo sheldon adelson passed away last night from complications related to treatment for non-hodgkin's lymphoma he was 87. along with being a casino owner he was a gop mega donor who donated to gop causes between 2018 and 2020. joining us by known, michael levin sands president and also friend to mr. adelson. first of all our condolences. >> thank you very much >> how big of an impact did he have on the gaming industry. not just here in the u.s. in vegas but around the world in

macao also. >> he had a big uns from on vegas in turning it into a destination. as for macao, he changed it to what it is today when he went in there and got the concession and brought significant properties for significant gaming as well as cleaning the place up sheldon was immeasurable in terms of his impact on the gaming business in those destinations and will be remembered for it, i'm sure. >> you know, it's so different, the vegas that sheldon helped found back in the '80s when he purchased the sands is very different than it is right now, michael. in your experience with him, at sands, where do you think vegas stands right now, coming off the pandemic, and the recession, and into the future, where we could -- a lot of our habits could be changed >> that's a little bit of a

tough question at this particular point the pandemic has really affected laeg from the standpoint of its general tourists and its general business environment as well as the gaming it will recover because it's a -- vegas is very unique in its situation. but there is a lot of cash burn going on now they are slowly coming back. but it is going to be a while before it does i think sheldon really stepped out and paid his employees when others didn't. and i think it's made a very big difference and he was a very generous man in many ways and he really stepped up to help his people i think he should be remembered for some of those things and you know, generally, people view him as being difficult. in some ways, he was he was puffsful. but mostly made change change was part of his life.

and i think that's -- that's essentially what he gave to vegas and what he has given why every. there are many many stories about sheldon, as some of the articles have said he was a bigger than life character he loved america, he loved israel he loved his people. >> michael, what would his view be for gambling over the next decade here in america and the sort of size of opportunity that sports gambling presents relative to -- >> well -- yeah, i have been away from it a few years now but i read the other day that they are looking at sports gambling i think -- sheldon, when i was there, he was against the internet gaming situation as it applied to youth he was worried, we were worried about the impact on young people, college people, et cetera, and so forth and i think that's generally changed now. i think sports gambling is going to be a big issue.

it is going to be a big opportunity. but it is never going to replace -- it is never going to replace the common gaming that has existed in vegas all these years. there will be some change in the top vip market because the chinese gamblers aren't coming anymore, more than likely. but i think the sports gaming is just going to enhance the businesses that are already in it there is going to be plenty to go around. it is a low margin business, but it is a business that will do great volume i think the vegas hotels are already starting to get involved in it, as well as others the venetian and pal asso are positioned to be able to do that if they want to. >> just a question michael on his legacy through charitable contributions. hard to overstate what an impact he made in israel and the jewish organizations. also here in this country n the republican party how do you characterize that, especially at a time when the

party is going through a bit of a reckoning right now, an identity crisis. >> i think sheldon is going to be very missed in every way. he is going to be missed in israel he's going to be missed in his work in the medical field, which he has done great work in cancer he's done a lot of things like that i think the republican party will miss the money. i mean, no one is going to replace that size of donorship unless mir yum continues to do that i am not sure she will i have no idea i know she will support the medical and israeli causes because she always did support those. so the republicans will have to get along without him ask. there is nobody -- there is nobody the size of sheldon's condominium to the republican party. and he was -- he was very vocal in what he liked and what he didn't like. but at the end of the day, as i have told others today who have called me, when sheldon was called by president obama to

help him, sheldon said, i am an american first and a republican second if i can help you, mr. president, i'm going to help you. >> thank you for leaving us with that michael levin, we appreciate it. >> thank you very much thanks for the call. bye-bye. coming up the fight against covid-19 lab corp. helping the cdc track coronavirus mutations as new strains spread across the u.s. we will discuss with the ceo of lab corp. when "closing bell" comes right back will pick up b. will pick up b. 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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and accessoriesphones for your mobile phone. like this device to increase volume on your cell phone. - ( phone ringing ) - get details on this state program visit right now or call during business hours. welcome back time for a cnbc news update with sue herera hi, sue. good to see you. here's what's happening at this hour, everyone in his first public appearance since the capitol hill riot president trump visited a section of the border wall in southern texas signing his name on the a plaque and saying the next administration shouldn't even think about taking it down, referring to what he called the events of last week, trump said he believes in the rule of law, not in violence or rioting and he dismissed an expected house resolution calling on vice president pence to invoke a constitutional process to remove him from office.

>> the 25th amendment is of zero risk to me but will come back to haunt joe biden and the biden administration as the expression goes, be careful what you wish for. federal prosecutors say this afternoon that they are considering what they call significant sedition and conspiracy charges against at least some of the people who stormed the capitol. and some welcome news to end the update on. the cancer death rate fell a record 2.4% between 2017 and 2018 the american cancer society gives some of the credit to new treatments for lung cancer little bit of good news there. you are up to date that's the news update, wilf, back to you. >> sue, thanks. shares of lab corp. gaining more than 20% over the last year in the wake of the coronavirus pandemic now the company is working with the cdc to tackle new covid-19 strains here in the u.s. we will discuss with their ceo after this short break

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testing players amid the pandemic pushed shares of the company higher about 20% last year also one of the company presenting this at week's jp morgan health care conference. for more, meg tirrell is joined by lab corp.'s ceo adam schefter now. >> adam, thanks for being here

i want to start by asking you about lap corp.'s new contract with the cdc to help give a surveillance system for the new variants of the coronavirus. how are you going to be able to get a eye on this and be telling us hopefully in realish time if the variants are emerging here. >> hi meg, it is great to see you. a pleasure to be here today. we announced last week we are going to be working for the cdc. we will be sequencing a couple thousand samples per week. we submit the first couple thousand to them this past sunday every week we will be sequencing many patients from across the united states. we will provide that data to the cdc. we will give them our interpretation of it they will validate it and kmookt it as appropriate. >> is that essentially real time sequencing or is there some catchup being done to older samples? >> right now we are doing real time but we also have samples from the past that we can go back if

we choose to or asked to to take a look at those as well. >> adam, it's sara eisen as we get these mutations and variants, are your covid tests still as accurate? and how are you figuring that out? >> yeah, absolutely, sara. every time there is a mutation, we look at our primer and our probes and we insure that the sensitivity of our pcr test remains the same so far, for every mutation that's been documented our pcr test sensitivity remains strong. in fact now we are able to do 275,000 tests per day and we still have a one to two-day time to result. we are able to do that despite the large spike that we saw over the holidays so we have built a significant amount of capacity the tests are very accurate. we can still find positive patients even with the mutations and we are going to continue to build capacity >> the other question i was

going to ask you is whether people who are receiving the vaccine now in a significant number are and should be able to do so soon -- should they get antibody tests from you to prove that the vaccine is working and they are part of the 95% efficacy rate we are hearing from the vaccine makers. >> it is extraordinary how fast the vaccines have come to mark it was extraordinary the task to get them there so quickly. i hope as many people get vaccinated as quickly as possible as does everybody else as for testing for antibodies, at the moment there is no plan to do it in the future it may make sense the look at antibodies may make sense to look at t cells. there is a lot more we have to learn. at the moment everybody should get vaccinated as quickly as

possible and there is no recommendation to get an additional blood test afterwards. >> are you forecasting or expecting a moment in time maybe by next calendar year are covid testing will drop to zero once we have reached herd immunity. >> i still anticipate there will be need for pcr testing. let's say 20% of people still don't take the vaccine i think if this time next year somebody has a fever or doesn't feel well, goes to their physician they may still want to check to see if they have covid. >> adam, i'm wondering as the new administration is set to take office next week, have you been having conversations with them do you have expectations for how their approach might change support for your industry in maybe in a longer term support for public health infrastructure in general to make sure we are set up see we catch the next pandemic-level virus early

>> no, i think that's an important question we have had multiple conversations with the transition team. i am positive in the interactions in the way they are asking good questions, and formulating plans. we are glad to help in any way we possibly can. i think it is going to be a continued team effort to do anything we need to do at the same time, i think there is a lot we can learn from this pandemic and there is things we need to do to ensure as you said that in the future if there is another pandemic that we are more prepared than we were back in march of last year. >> amen to that. adam schefter, thank you for joining us cnbc's meg tirrell, thank you as well. >> nice to see you. >> still to come, one of trs biggest stars getting in on the sports drinks wars i caught up with carry underwood. it's moving day. and while her friends

are doing the heavy lifting, jess is busy moving her xfinity internet and tv services. it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? delegating? oh, good one. move your xfinity services without breaking a sweat. now that's simple, easy, awesome. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. up next, grammy award winner, carie underwood with her latest high profile endorsemene. has failed to take off.

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body arm ourselves backed by coca-cola announced they have signed carri underwood it's about 13% market share. it was taken mainstream in

recent years by the late kobe bryant who was a top investor in that company its chairman and founder has set an ambitious goal of dethroning gatorade by e grammy winner about what she expects to bring to the table listen >> at the core of what i do, i'm a working mom. i'm juggling i have an amazing job that i'm thankful for i get to sing, which is something i'm so passionate about. but i'm just juggling like everybody else i feel like. hopefully we can reach out to fans and also people that are like me and are just trying to just juggle and make healthy decisions. ♪ hallelujah hallelujah ♪ ♪

>> underwood isn't just reaching country music fans but she's a fitness enthusiast hi with a track runner and a brand her clothing line is the number two selling line at dick's sporting goods >> in the beginning when we started talking about making it, what is missing. there is so many brachbds. when i walked into dick sporting good, what do i wish i saw and it was all about kind of the details, the femininity. there are a lot of technical workout piecings, but i didn't feel like there were ones that were super pretty, you know, and that's kind of something that i wanted i wanted little -- i like flowers. i wanted some prints, some things like that that brought some color into it and it wasn't all black and white and red and gray it just needed to be something that was a little more

>> that was in response i asked her how she's distinguishing herself from the athleisure brands the ceo of dick's helped develop this brand which is now six years old and is expanding it as dick's makes a bigger move to court women. finally, we are seeing a number of artists selling their backcatalogs i wondered if i would ask carie if she would she's keeping her options open i don't know where you want to go, pepsi, coke, back catalogs, dick's sporting goods. there's a lot there. >> you are our correspondent for celebrity brand ambassador where do you rank her among the rest, the kanyes and all the rest in terms of her potential >> she's at the very top when it comes to country music fans, that's for sure. she's got a ton of followers, 10

million on instagram, maybe not as widespread as kanye west but clearly she has a proven concept with calea i think when you're involved as she is, which i always make cree director for this brand. they've been sending her samples during the pandemic lockdown approve the patterns and the fabric when you're involved and you put your permanent touch on o something, that's what's resonates. something which i give kanye credit for and travis scott for taking control of the creative process and up think that's what speaks to fans on body armor, she's an equity investor alongside coke and kobe bryant's wife vanessa, another way to good in the game and not just sign off as we used to see sponsorship. >> i guess the question on that will be whether it's precisely

the right drink. it's healthy as well we'll have to see -- i'm amazed of the market share of gatorade of 73% if we put it briefly in the final minutes to markets, mike, quite interesting interaction. we talked about the buying of cyclical stockings did dollar stands out as a turn-around. and the vix moving back. too. what do you think? >> the equity marked has been bending, more rotation and broadening out than anything else it seems as if the risk appetites are high enough there that the move has not destabilized anything and everybody's satisfied. it's eased back. it's elevated rel i have to to the market but i think it's a question of whether the market cools off a little bit, goes sideways,

continues to rotate or has to have down the road something sharper to the downside to maybe just to correct the path a little bit >> yeah. i think the bond market is going to be a big question, guys strong auction, goes against the bare thesis on bonds we've seen lately that nobody's going to want, the 10-year debt that's something to watch. >> ten-year ending at 113 -- 117. we're out of time. "fast money" start rts now >> i'm melissa lee tonight on fasup, gm plugs into the commercial ev market how traders are playing the v move next, netflix doubling down on content. we'll debate all over kb home's stock popping on result. the conference call is just getting under way. we'll bring you th