welcome to "power lunch. here's the 2:00 takeout. stocks rallying on president trump's final day in office. treasury secretary nominee janet yellen calling for congress to, quote, go big when it comes to economic relief. we'll have more on that. plus, energy leading the way

higher as president-elect biden reportedly to ax tkeystone pipeline why he's saying to buy the sector right now and former intelligence officials calling for president trump to be cut off from security briefings after leaving office she's going to join us this hour but first, we start with the markets snapping back after last week's pause in that record rally. turnaround tuesday and bob pisani has the latest details. bob? >> you can thank janet yellen for that because ms. yellen knows how to push the right buttons the markets want to hear what are the buttons you heard one of them. go big or go home. they know that in 2008, should have done even more and not going to fail this time. going to push a very big package, who knows if she'll have to compromise on that but first right note she hit emphasizing rates would likely remain low for a long time and

very little emphasis on raising taxes. that's what the markets are afraid of. she even implied corporate taxes would remain below pre-2018 levels and that's exactly what the market wants to hear pretty broad rally tech stocks, growth names doing well particularly, semikuconductors the commodity names had a great start overall to the year. commodity stocks all up and lagging are those defensive names. generally, consumer staples and utilities and many days, even health care has been lagging in terms of what's been happening for earnings season, a good start to earnings season. fairly wide margins but something interesting. since friday when jap morgan and citi came out, flattish. this happens often the big run-up occur going into the bank names and then slightly down after they come out nothing really wrong with the reporting that's going on so far and guys, big thing is the markets are very hopeful that the analysts are once again way

too conservative last quarter, the analysts underestimated the market by a good 20% the earnings numbers and this quarter, some hope it will be repeated again good guidance from q1 and q2 and aggressive guidance. trade it 22.5 times. 21 numbers that's a very, very big multiple back to you. >> bob pisani. thank you. josh brown is back with us for the hour, as i mentioned so close, yet so far josh, i do want to get your thoughts on the market here. especially on the last comments by bob and sort of what's baked into the market at this valuation right now. >> yeah. i stayed out here because i really wanted to give the world the perspective from the south shore of long island i felt that would be critical this morning but i do miss you, morgan i want to echo what bob pisani said about how broad the rally is and then point to a couple of things that have nothing to do whatsoever with stimulus plans

or even anything that might be on tap at the fed. you look at emerging markets, just absolutely ripping right now. china is going vertical. look at a chart of the fxi large cap blue chip on the london exchange in etf form. look at k-web. chinese internet giants. tencent and baidu. these tech stocks look vertical to me and they're not benefitting from u.s. stimulus there's much more going on here than just whatever biden and yellen have been talking about in recent days i just think there is this general tone of bullishness. you think about the united states stocks going into the next year. we've weathered probably the worst of what we'll see from the pandemic we got through it with a lot of accommodative policy and 30% or 40% earnings growth in the s&p this year. you could have 4% to 6% gdp growth when was the last time we could talk about that? we don't get quite back to where we were in 2019 but pretty darn

close and many s&p components far overshoot where they were. so that is why we're at a 22 multiple on the s&p. it's not a cheap stock market but i think it's certainly a j justified one. >> a key point too, the fact the recovery story is not just a u.s. story but a global story. we've got less than 24 hours from now joe biden is going to be sworn in as the president of the united states. 46th president we learned today one of the first things on his agenda to rescind approval for the keystone pipe lane for more on this and day one plans, let's bring in kayla tausche. hey, kayla. >> reporter: the president-elect concluding remarks in delaware as he embarks to leave for washington, dc ahead of an event tonight at the lincoln memorial. the president-elect getting very emotional talking about his late son bo at a national guard reserve center named for bo, certainly a seminole moment for someone who spent his career in politics and we'll see what his

remarks tonight include, but as far as those policy priorities, rescinding the $9 billion keystone xl pipeline permit rejoining the paris agreement are two of the concrete ways that the incoming administration plans to signal its commitment to combatting climate change one of the four crises it will be facing. these are actions it will yun latly take without congress and both expected to be announced on president-elect biden's first day in office. reversing that pipeline will serve as more of a symbolic signal to industry rather than a direct deliverable to voters a recent poll of american voters commissioned by one canadian province found more than half of voters in either party view the project as good for the economy. given that it's already under construction, more than half of voters believe it should probably get finished. climate change is one of the crises highlighted by top biden aide incoming chief of staff ron clain over the weekend outlining

plans for ten days of executive branch action mandating on federal grounds and extending deadlines for eviction ban and student loan forbearance and withdrawing the white house ban on travel from majority muslim countries but covid-related travel bans, the administration says will stay in place despite the trump white house's move to try to roll that back beginning next week. morgan and josh? >> i believe immigration is son tap for the week too after trailing in 2020 up 15% and tom lee said energy stocks could benefit from the fear of missing out. tom, thanks for joining us today. >> great to be here. >> i'll be honest. i would not expect to have a fomo conversation around energy stocks and i realize they've been rallying not just in recent days, but really in the last

three months or so still, i guess, over a 12 month period of more broadly lagging why fomo now >> i was referring to institutional fomo and one thing to keep in mind, 2.5% leading the s&p so most institutions more important than apple or google because those are individually bigger than the sector and many have zero exposure so many investors have gotten out of this group because it's been terrible for so long, but year-to-date, energy's accounting for almost 60% of the gains in the market. so it's been a huge contributor and it's not that different from tesla last january where tesla had accounted for more than three quarters of the gain of the russell 1000 and most funds had little exposure.

really looks like this, especially given the incoming white house. you've got a better supply balance. i think that zero percent goes to something and that's a lot of money falling into the sector. >> i think that's a key point, tom. i'm curious, we spoke to jeff curry of goldman a couple of weeks ago and he basically suggested we're entering another commodity super cycle. when curry said you pay attention, given the fact he called the last one as well, do you see it the same way? >> commodities is not my area of strength really good at understanding the supply and demand. but there's a super cycle under way that investors really need to pay attention because energy stocks could be up multi, not just 23% but 400% or $500 and at 2.5% could become 8% or 10%

again. not saying it's going to happen but how painful it could be if people don't have exposure >> tom, i wanted to chime in with what the bear case would be and see how you would react to that in 1998, ten or 12 of them or none. i guess u.s. steel is all that's left now seven years later, same thing with the coal stocks you had stocks like james river coal putting up huge returns they're all done i don't think there are any left there might be one left. why would oil names, why should we think about them differently as long-term investments or you just are suggesting these are trades because of how neglectful everyone is and then you want to get out of them at some point after they rally how are you thinking about these when you're recommending people to look at them? >> sure, i mean, i think those are pretty good analogs because

steel and coal are boom and bust just like energy but i think unlike those two groups, energy's sort of centrality is much grater. energy is by far the largest commodity. it's a meaningful percentage of gdp and it is used in all incremental activity if we see gdp pick up as you were talking about, 4%, you don't necessarily use more steel, but if we start to see people get on planes and business resumes, gasoline and energy consumption rises in lock step with that i think it's sensitivity to gdp is so much greater and even if we talk about moving and cutting supply is actually huge for the price equilibrium which is what matters to the stocks. >> bfefore we let you go, i wan to get your take on the broader markets. price target for s&p before year end.

how do you see us getting there and how do you look at valuations right now based on everything we've heard as we're just starting to come into an earnings season now? >> the market's actually pretty healthy. i mean, i think the risk/reward is still really good right now somebody wondering, i don't think it is because as josh said, it's not just the fed and janet yellen causing stocks to rise stocks are systemically rising everywhere because generally, it's telling us earnings growth is probably better than we expect but imagine the last ten years, the average investor has allocated zero percent of their incremental savings to stocks. 94% of all savings last year went into bonds. some of that is now going into equities, let's say the next ten years, it reverses, you've got a massive for stocks i think the risk/reward is really good here. >> thank you for joining us today. great to get your take

former fed chair janet yellen calling for another big round of economic stimulus made those remarks at a senate committee hearing on her nomination for treasury secretary. let's bring in eylan mui >> janet yellen confirming for the next treasury secretary. the senate finance committee chairman said he'sworking with republicans to meet that timeline that hearing lasted for just about three hours and yellen called on congress to act big, especially since interest rates are at record lows and she said inaction now could result in a longer more painful recession and long-term scarring in the economy later. but republicans like senator don thune repeatedly pressed yellen a about the impact the relief would have on the national debt. >> when is it enough when is it too much? when do we hit that point where

the thing starts to collapse that's what really concerns me and nobody is talking about it, really, in either party. >> but the most important thing in my view that we can do today to put us on the path of fiscal sustainability is to defeat the pandemic >> she also said that the administration is not looking to raise taxes now while the economy is still being depressed by the pandemic, but that eventually, an increase in the corporate tax rate could be packaged with other investment and spending measures. she said the goal is to keep u.s. companies competitive, guys, but to make sure corporations and the wealthy pay their fair share back to you. >> ylan mui, thank you it almost seems like we're teeing up for tax reform and while it might not happen in the thick of the covid crisis, it does seem to be very much on the table. i guess i wonder what you think as an investor of some of the policies that are just starting

to begin to take shape, some of the big ones we're expecting more details on as soon as tomorrow >> so of all the wall street notes on what tax reform might mean for s&p 500 earnings, i couldn't find a case that meant less than a 9% negative impact on s&p 500 eps, full year eps. that doesn't really sound especially terrifying, and if you were one of those people who were selling on biden potentially becoming president over tax rates, fooled again by mixing your politics up with your investing especially if we lose the trade war nonsense which we probably will so i don't think that normalizing corporate tax rates slightly higher, it will still be lower than the obama era. actually had a rise in tax rates during reagan and during clinton and stocks did fine, so let's put that aside i think bigger picture things to keep in mind with stimulus, et cetera, is that we now have a

form of stimulus that we've used in real life that we know is super effective. when you did quantitative easing one, two, and three, what you basically did is give more money to banks to do nothing with and give more money to very wealthy people who would then turn around and buy etfs with it. this was very different what we did in the last year it was an emergency, we had to so this question in the "wall street journal" piece, how much debt is too much debt? well, it depends do you think we're fighting a war? we're not. i happen to think we're fighting a war. called this world war v. if you think it's a war, we're probably taking out an appropriate amount of deficit spending and debt. it's not going to be appropriate forever. the hard part is not how much debt now the hard part is when we try to normalize this that will be tough and that will involve some big choices, but we're not quite there yet. >> on earlier and talking about i guess the experiment, potentially, in coming years around modern monetary theory basically said this was that on

steroids josh, we're going to pick it up. we've got a big show ahead lots to get to we're going to take a break first and we're going to be talking about coronavirus case and hospitalizations on the other side showing signs of improvement in the last few days as the vaccine rollout does gain steam. so we've got the latest details. plus, shares of general motors hitting an all time high after microsoft and others make a $2 billion investment in its driverless car business. we've got all that so much more straight ahead. stay with us

welcome back to "the exchange." latest on the vaccine rollout across the u.s as new york state wants to start buying from pfizer directly, let's bring in meg tirrell for more on vaccines and everything else we've been seeing meg? >> morgan, well, new york, the second state we've heard about asking permission to buy vaccine doses directly from pfizer as they try to get more supply and speed up this rollout. governor cuomo saying he made the appeal directly to pfizer. pfizer saying in a statement it would have to get hhs' permission before we can sell directly to state governments, hhs would need the approve that based on the emergency use authorization granted to pfizer by the fda you know, government officials or incoming folks or advisers to

the biden team said it would resemble a situation that states are bidding over each other like they did in spring with ventilators. but a prediction of 100 million doses in the first 100 days, a million doses per day and already on track for 800,000 per day. dr. anthony fauci was talking earlier today about whether he thinks we can achieve that goal and how fast we could reach herd immunity here's what he said. >> president-elect biden planned that i think is entirely feasible to get 100 million people vaccinated in the first 100 days and then thereafter, literally have an open season of vaccine where anybody who wants them needs to get vaccinated gets vac

na cinated. by the fall, we should are the degree of protection that could get us back to some form of normality. >> dr. fauci talking about potentially reaching herd immunity in the fall if we can get to 75% to 80% of people vaccinated but we still see problems as this rollout is speeding up. florida, for example, reporting the number of people overdue for their second shot, more than 45,000 right now, guys we've reached out to the state to get more information on what is causing that. have not yet heard back. >> that is quite a number. meg tirrell, thank you for more on the vaccine rollout challenges and how one major new jersey hospital is faring, let's bring in michael maron, president and ceo of holy name medical center in tenek. administered all 400,000 covid vaccines they received australia of yesterday and additional 2,000 doses late last night. thank you for being with us today. i just want to get your take on the status what you're actually seeing on

the ground and whether there have been issues. >> the biggest issue is supply of the vaccine one week, we'll have pfizer and the next week, moderna we never know how much we have the capability to do 3,000 a day in partnership with tenek and the center, we've tested that and it works but it works because we have software that as long as everybody is scheduled, we don't take walk-ins, we design software here. we write our own software specific for the covid vaccine process. it registers you sends sms and email message and

remi reminders so we hopefully don't have 45,000 people forgetting their second dose. there's a level of sophistication to administering the vaccine underappreciated it's very, very, the logistics are very challenging >> to that point though, i mean, when we do see the numbers out of florida, 45,000 plus that are overdue for their second dose, are you seeing or are you concerned about having enough supply for those people that got their first dose. >> they will actually ship not in the dosing counts when i say we gave 5,000 as of today, just number of vaccines, those are first doses. so we do not expect an issue

with second doses. >> i'm curious on the ground from an icu standpoint at the hospital in terms of covid cases and just as importantly or more importantly, perhaps, what the ability to treat those cases has looked like. >> sure. so we have seen sort of a steady plateau. much less than what we experienced here back in march and april of 2020. we're running around 80 patients a day on average it will dip down to 40 or 50 and creep back up. 10% of those in the icu on ventilators. everybody's concern, it is not who you would think. it's mostly people between 45 and 65 so these are not the frail elderly that everybody talked about. those are the ones on the ventilators. that has us somewhat concerned we have a host of new interventions. one of the few hospitals robustly administering the

monochromal antibodies f. you present covid positive in the emergency, what we do is if you meet the right criteria, we schedule you an infusion right away you get a two hour infusion and go home and we've had great success with that and the patients are responding po positively that helps keep capacity at a minimum. >> real quickly before we wrap this up, i need to go back to 45 to 65. why is that, what has changed within everything we've seen in the past year that that is the demographic that you are seeing end up in the icu right now? >> great question. don't know so very important for everybody to remember with this virus, it's mutating, it's changing, it's transmission. there's still much more we don't

know thanwe do know and i wish we could pinpoint it to a specific cause and effect why these younger people are crashing as seriously as they are. for us here in the industry, it's a reminder that this is still a very, very serious and deadly virus we should not take it lightly. >> michael maron, thaurnnk you r joining us today. >> thank you. shares of virgin galactic climbing higher. after i spoke to sir richard brandon earlier today what he had to say about his next space veur that's coming up after the break. ade usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa

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welcome back sir richard branson's virgin orbit, other start-up mini satellites into space. achieving orbit for the first time after a first failed attempt that took place last year the company saying that 10 mini satellites, cube sats, have been carried into orbit, launched from the wing. this rocket was air launched from the wing of a retro fitted boeing 747 jumbo jet that once belonged to virgin atlantic. i spoke with branson earlier today about the success of that launch and what it means for the company now going forward.

>> obviously, i think it positions virgin very well we're the only company in the world that is offering an air launch system. so i think we're at a stage where we want to ramp things up. we'll raise some outside finance to take to the next stage. now that we've proven the concept. we love the experience with virgin galactic. there's a lot of people out there who invested in it and it's been a fantastic success in its own right. >> so virgin orbit this is the other space start-up from sir richard to keep an eye on, spun out of galactic a couple of years ago and really, some key comments there suggesting that the door is open, especially now that the company has achieved orbit and will now begin launching its commercial services for its customers, both commercial and

government customers but the door is open in terms of how another round of capital could be i asked him about virgin galactic and specifically what he thought of the stock trading at this price right here at more than $31 a share even though the service, the space tourism service hasn't yet started. didn't really answer that one. but i also think it was notable that the ceo of virgin orbit basically said they've been getting flooded with emails and texts about prospective new business they're small rocket, 70 feet tall in height and in terms of sir richard, josh, i asked him about his outlook especially with everything we've seen to the broader virgin group and all under that umbrella, what his outlook is for those industries this year and he basically said

everything hinges on a vaccine and put his weight behind the idea of a vaccination passport a paper that people show they've had the covid vaccine but didn't rule out possibility of more financial aid in the meantime as we get ready for broader immunity and vaccine rollout. >> one of the things i've believed for the last year is the absolute best kind of stimulus you could ask for is a vaccine. we're starting to see cases fall again, which is nice our guess in an earlier block talks about israel they were able to vaccinate 30% of their population and they've seen cases nosedive as a result. i think it's 60% of their population, but either way, 12 million is not enough and we're not quite there yet. i think all the industries sir

richard branson will be in wait and see mode that's where we are. i don't see a change in your term i don't think we'll magically hit 40% or 60% vaccination rates anytime soon. >> i thought it was interesting he said virgin atlantic has basically doubled the amount of cargo it's now flying to help make up for that revenue shortfall but for more on that interview, cnbc.com. in the meantime, ahead on "power lunch," finally day in office is here, once he leaves the white house, what happens to his security clearance former principal deputy director of national intelligence sue gordon says cut him off. hmm. she's going to join us next to explain. plus, as president-elect joe biden proposing minimum wage hike but can main street handle $15 an hour? we'll explain that when "power lunch" comes back.

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welcome back, everybody. i'm sue herera here's your cnbc covid update at this hour. in the next hour or two, the united states will pass 400,000 confirmed covid deaths that's according to the johns

hopkins count. global deaths are now above 2 million. a new study published today finds covid patients being treated in a hospital's intensive care unit had a much greater chance of dying when there is an increased amount for critical care, however, that relationship was not seen for patients being treated in other areas of the hospital. with the planned start of the olympics just 200 days away, japan is looking iffor ways to speed up covid testing officials looked at a robotic system that could be used at olympic venues. the world's top male tennis player found something to do while quarantining ahead of the australian open. novak watched two youngsters hitting a tennis ball back and forth. he is not among the 72 players in a very strict quarantine because people on their chartered flights tested positive, but some players are complaining that australia's tough rules make it impossible for them to practice he seems to be enjoying himself.

that's the news update this hour morgan, i'll send it back to you. >> he does, sue. sue herera, thank you. with less than 24 hours until president trump leaves office, the attention is already turning to his post-presidential life in a recent "washington post" op-ed, trump's own former principal deputy director, to exclude trump from classified briefings after tomorrow a tradition enjoyed by former presidents joining me now to discuss is sue herera, former principle deputy director and cnbc contributor. thank you for being with us. lay this argument down for me. it's my understanding, correct me if i'm wrong, that in terms of these briefings that former presidents get, the most sensitive intel is actually usually typically scrubbed before that former president receives it anyway. >> thanks, morgan, for having me and good afternoon so the reason i wrote it is because i think too often, we make new special rules when in fact the rules we have are

applying and intelligence is the way we have advantage the way we have advantage. and convey information and the confidence we have in them my assessment is for this president and quite frankly, any president, it should be a purposeful decision whether you share it this president has a security pro profile. a businessman who travels extensively overseas he has some interest in running for office again i'm not sure he totally grasps

the information. so the people who would do us harm would have an interesting target in him. why not apply our standard need to know to it and i think if you did, downside this president need to know the conclusion, he doesn't if he does that serves the nation interest at some point in the future, you change it up >> sue, it's josh brown. thanks so much for being with us today and that was a great op-ed you wrote. i wanted to ask you about the prospect for a good chunk of the stimulus money going towards things like cyber security i think over the last five years, we've learned how vulnerable, how corporations and government agencies and the go-between serve as both what's your take on that a big investment opportunity how crucial is it for our democracy, et cetera

>> certainly, if we needed to be reminded, that we're still vulnerable it's still important and the connection between the private sector and the public sector really needs to be minded. money is good. i'm glad to see it in there. i think it is reflective of how important this is. and some of it is ire marked for modernization and infrastructures i'm not sure money is quite enough. we need to have a conversation about what strategies are for cyber security going to be because we have spent a lot of money. not only in u.s. government, but across the u.s., over the past decade and we're still in this place. so the question is, what is our theory, our practice and our approach going to be money is good but money isn't going to be enough

and a lot of this money is focused on the government. i would argue, let's look at the intersection in the private government because we're well aware now, it expands both. >> certainly a significant piece of, i think, the broader national security discussion and what that strategy will look like i think to that point, yellen is getting all the attention at least from a market standpoint today but we have a number of nominees that are testifying today. whether it's homeland security, director of national intelligence and secretary of state or in just a little while, nominee for defense secretary. i wonder what you expect or anticipate in terms of the broader national security strategy under a looind administration and something, for example, china is going to fit into that. >> yeah, so it's a really interesting question i love the slate of appointees especially this national

security taeam. i think it's really quite a strong team but man, there are a lot of security issues there's covid. the economy. there's climate. societal unrest. cyber is in there. domestic extremism has reared its head that has to be addressed and then you have the perennials of trying to rush iran and north korea. this is a big nartional securit challenge. it's a seasoned team that comes, a second to say, what is it we need to build to be able to advance the ball, not just calm the waters. >> definitely keep an eye on that thank you for joining us. >> you bet, morgan. the impact of a higher minimum wage on small businesses

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welcome back president-elect joe biden has proposed raising the federal minimum wage to $15 an hour. can small businesses handle it let's bring in kate rogers kate >> main street is welcoming president-elect biden's proposal to deliver more aid to struggling small businesses in the form of grants and more financing but small business advocates debating another of biden's proposals you just mentioned, hiking the federal minimum wage to $15 an hour, more than doubling the rate of $7.25 an hour. small business groups like the sbe council warning that the move could slow an already challenging recovery

and for many, raising minimum wage means across the board, in addition to current concerns about things like rise in costs within thesupply chain small business owners like patrick way, who's a owner of four franchise restaurants in massachusetts and connecticut, are weighing what such a hike means for operations and how he'll handle the costs >> i'm not sure that it's fair to burden everything on the small business owner and then have to have us make the decision with how much we'll have to pass on to our customers. >> business owners around likely weighing similar divisions but one thing for sure the minimum wage hike is popular. pew research shows two-thirds of americans say they do support a $15 an hour federal minimum wage morgan, back over to you. >> such a key point, kate. i mean, you're talking about restaurants, small business owners, retailers, some hazahazard e hardest hit with the pandemic

doesn't seen stimulative thank you. shares of gm cruising higher today. a couple of billion for microsoft, driverless cars stock hitting a record high. we'll be right back with much more on this buying deal competition beat us, again. how? they have a better finance system than we do. i feel like they might have a better finance system than we do. workday. how do they make better decisions faster? workday. got to do something. workday! i think i got something. work... hey, rob, you're on mute. hello. [all] hey... there he is. workday, the finance, hr, and planning system for a changing world. ♪ch-ch-changes♪

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welcome back general mortars up 9%, hitting an all-time high as microsoft, honda, and others invest $2 billion into its self driving cruise market. joseph spak has a buy rating thank you for joining us break this down for me we saw a huge move in gm on the news last wee and another move to start off this holiday-shortened week have we just in one fell swoop just witnessed the reemergencying of this company, at least from a investor's standpoint. >> thanks for having me. i think that's exactly right what you are seeing is gm meeting a number of strategic investments and bets along the way for a number of years. inthe value of some of these investments has really been tracked. what we have seen come to market is the enlightenment of some of

these auto tech ventures from new companies and other established companies can bring to gm. gm has a lot of these same assets so you think about, they own about 70% of cruise, which is what took on the investment with microsoft today. that's like a robotaxi type outfit they have their battery joint venture with lg, which is building batteries for wreck trick vehicles vehicles themselves, 30 new vehicles by the middle of the decade last mile delivery a number of these technologies, a collection of them, really, and i think these announcements, like today, helped investors realize that gm can really be a meaningful player in where transportation is headed >> hey, joe, i'm long the stock. i had a lot of the same ideas that you did

i am a little bit frustrated because i feel like gm should be higher and to some extent it is being tied to a lot of terrestrial valuation metrics by the analyst community and it seems like it has got one hand tied behind its back whereas tesla isn't contrained by anything logic, physics, throw it all this the garbage why isn't gm given more of a benefit given how advance they are? why can't we untether this thing from the way you would traditionally value an automaker. 70% of cruise now being valued at $30 billion why not 50 what it would be if it were a stand alone company. >> there is some meaning to what you are seeing because if you back out cruise the remainder of gm is three times ebitda

there is potential look, gm has a transition to the business model of today to the business model of the future i think announcement like today and that could come over the course of the year can get investors to continue to recognize that gm can continue to make this transition and unlock further share how woulder value. the other thing is, look, oftentypes as you know, you need -- you know, you need a catalyst, right, or some unlocking event to realize that value. clearly today taking on money, bringing on microsoft, we didn't spend timan at that but it is a clear and important technology partner. it provides them with the cloud and computing platform where they can compete it is a big opportunity, autonomous vehicles, but they are not the only ones going of a it amazon and others. i think bringing on that technology is important this key point right there. thank you for joining us it comes on a day when ev raker riskian has raised $2.6 billion.

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and in an emergency, they need a network that puts them first. that connects them to technology, to each other, and to other agencies. that's why at&t built firstnet with and for first responders the emergency response network authorized by congress. firstnet. because putting them first is our job. welcome back just going to check on the broader markets right now. the dow is up 132 points testimony nasdaq is the outperformer, up 1.5%. it is really the big cap tech names bouncing, josh, including netflix which we get earnings

for after the bell but you are watching another earnings moving, right >> goldman, an outstanding report the problem is it had a huge into into those companies. today is sell the news about i wouldn't count them out. i think it can work its way higher >> i precious all of your co-anchoring from long island today. good to see you. >> i feel lying i am a natural. >> and you are, "closing bell" starts right now it certainly does. welcome to "closing bell," everyone, i'm wilfred frost along with sara eisen. stocks higher to start the week. tech, fangs, semis you aring the market higher as well as the likes of energy. let's look at what is driving the action treasury secretary nominee janet yellen pushes for more stimulus saying now the time the act big. dr. fauci says approval of the astrazeneca and johnson & johnson vaccine candidates are just weeks away. earnings seaso