discount. >> and you love the flats there better. >> yes, much better than home depot. >> i was trying to play your game there. stephanie? >> and i love the new regime there at ibm and five times the yield. >> and new name for you, farmer joe? >> raytheon technologies. >> hmm. >> zebra technologies. >> all right. guys, good stuff. thank you for watching. "the exchange" is now. and thank you, scott. welcome, i'm melissa lee, and this is what is ahead on "the exchange." wiping out the losses as the investors are putting the fears of rising rates a side. and now, falling aside despite the beat, and we will speak to the ceo of the crypto investments as bitcoin continues to volatile run. and the electric car stocks losing the spark we have some names down 20% or more, and what is driving this move. we begin with today's markets,

and dom has the numbers. dom? >> the numbers are looking pretty good. and because we are seeing the dip buyers coming out, and over the course of the past few sessions, we have seen a lot of the high flyers and the big technology stocks are taking a turn to the downside, and in some cases dropping 10 to 20%. take a look right now though. as we are coming awkcoming off e heels of the moves. the s&p 500 is now solid by back 3900 and up about .78, and they are up about 1.01 and still the laggard there in overall performance for the dow industrials. with the theme, over the last several months we have been seeing the divergence happening, and some of the high performers lagging behind, and some the smallest sectors in the s&p 500, energy, and 2.5% weighting is up 32% so far in the early part of

2021. meanwhile, technology is only up 3%, and that a 28% weight in the s, an-- s&p and energy is prett much 32% of the overall market, and tech is 2.67%. so this is the financial trade, and financials and industrials and the infrastructure type stocks and media up on the day, all of them getting a gold star, because melissa, all of the stocks have hit a record high in trading today, and i will send it over to you, melissa. >> thank you, dom. stocks have rererased the lows h the heavy trading for the first time in three days. and we bring in angela from global wealth market. and why is the sentiment changing from today and we went up 1.4% on the 10-year and

holding 1.3% firmly, and why the difference of the sentiment? >> it is interesting, because one big thing that happened yesterday and today is that we had the federal reserve chair jerome powell speaking to the senate banking committee. i think that put people at ease, because really the question that i have been having before now is what is the impact of the rising rates going to be on my stock portfolio and over the last three year, the 10 h year has been eking up over half a percent, and that is rapid that is a big number and to be at 1.4% this year is huge. what i am reading in there and what jerome powell reconfirmed is that there is a growing optimism in the recovery of the economy economy. people are seeing the light at the end of the tunnel of the pandemic, and the more injections and john and johnson

-- johnson and johnson with the one-dose inoculation, and the beats are not just good, but 20% up in the beats and the rising confidence of the management to say, hey, i think that going forward i have a bert handle on my future cash flows, and i think that our earnings are going to be very much growing faster. lastly, the fiscal stimulus, and again, the words of the very supportive fed saying that i am going to keep buying the bonds on the monthly basis and keep the interest rates low, because it is not about wall street, but main street, and main street is still suffering, and we need to be supportive. >> so whatever the 10-year yield does, jerome powell has the markets back so to speak, so when you say that you have or positioned for the risk on the portfolio, and what does that mean in terms of the valuation for instance that could still mean a rotation away from technology which is what we have seen in the last three days. >> so we are seeing the rotation away from technology, because if we kind of dig, or look under

the hood of what is happening in interest rates. nominal interest rates have been eking up, but the real interest rates were flat for a while, and three weeks ago, they kicked up, and almost like a trigger for the market, that, yes, the economic recovery a real thing. and so, seeing that sell-off in tech, and yes, one rebalances and up 30 to 80% last year, and to rebalance out of those names and into the names that are going to be seeing the valuation support from a rising interest rate environment, and so those are the things that are like, again, the global ek with e ti rotation, and things that are like cyclicals which we like, and emerging markets is our favorite investment right now, and they tend to be cyclical and commodities driven and from the advantage point we like where they are, and that trade of get me the heck out of my house now. so the consumer discretionary

trades, and people are itching to get out there to the savings rates are 16% and people are ready to go out to spend, and going on the back of the cyclical trend. >> and there is revenge spending, and everyone is vaccinate and the herd immunity, and does it mean that the work from home darlings will suffer when there is that sort of the snap back? >> not all of them. i think that there is a kind of the new normal that is coming into play. a lot of the companies are talking about the new f-word which is flexibility. we don't know what that is doing to be looking like. do people want to be 100% in the workplace or do they want to be working from home again or do they want the flexibility? so i think that we will see some of the trends stay so that some of the in fact what is driving the shortage and semiconductor

chips is that people like the consumer electronics that they have been able to amass and like how they have set up the home, and like that they have been able to renovate their homes and spend time with family, and so a lot of those will continue. but, you know, we are not going to be seeing the same type of the blast in earnings, and so, really, looking to those companies, even financials that tend to do well with the rising interest rate are going to be the better investment at this point. one other area that is going to be doing well with the reopening is the sustainable investment place. >> angela, a pleasure from ubs wealth management. we have a news alert on to bond market, and 5-year up for auction. let's go to rick santelli? >> this is the second shaung and just for aside two years ago the size of the action was around $40 billion and these numbers

have gotten humongous, but 0.621 is where the auction came in for the 5-year and consider this the one-year was trading 1.6 and so it tailed, and all of the metrics from the directs and indirects and they were all below average, and the one that caught my eye was the dealers and the 10-year for the dealers in takedown was 24%, and they had to take almost 29% this time around and all wehave left is tomorrow's 7-year to complete the package, and once again, the size is huge, and we see a little bit of the light sell-off after the auction buttoned up pushing the traditional yields on the curve here off of the highest yield, but not giving up much ground. melissa lee, back to you. >> thank you, rick santelli. we are keeping a look at the chip buys with the president biden to address the shortage today. and this is the chip stocks to

report earnings after the bell, and josh joining us. >> right now, the chip industry is dealing with the most serious shortage in years impacting everything from computers to cars and for example gm warning investors that the shortage could cut the earnings by as much as $2 billion this year. and president biden's administration is trying to address the challenge with the new executive orders to help to create more resilient and supply chains to set up reviews for the basis of the future action. the administration is referring to semiconductors saying that the united states is the birthplace of this technology, and has always been a leader in the semiconductor, but we have underinvested in the production and hurting our innovative edge while others have learned from our example and invested in this area, and there is bipartisan support to ramp up the chip manufacturing in this country, and the question is how much lawmakers will ultimately

dedicate and when. chip shortages is bad news for the carmakers, but not or the chipmakers themselves, because they will ship everything they can. and the smh that attracts it is pulling up sharp, and up 20% over the last three months, and hit a fresh all-time high last week, and one of the best performers in the etf is nvidia reporting the q4 after the bell today reporting up 100% over the past year, and 200% since the march low. melissa, back to you. >> josh, it is amazing to see that you had mentioned the increase in the domestic increase of the manufacturing of the chips and the u.s. makes up 40% of the chip sales, but only 12% of the production, so it is has lost quite a bit, because it was 37% of the global production in 1990. where are the chips being manufactured now mostly the contractor manufacturers like taiwan semi the bulk is contract

manufacturer like tmc and they were 22%, and you saw a big dropoff in the u.s., and like i mentioned the bipartisan support calling for the domestic chip manufacturing when you are talking to the trade groups representing the semi group, they will say that the money is coming, but the question is when and how much. looking at the chip analysts and the folks really covering this sector day in, day out, they say that even if you saw the domestic chip manufacturing, that is not going to address the short chip shortage, because ramping it up won't get there in time, so the people i spoke to said that it won't ease until about six months. >> and we will check with the chip manufacturers and it is not just nvidia, and broadcom and and the shortage could prove to be a difficult one for the sector. joining us is christopher rollins the head of the rollins susquehanna investors. and picking up where chris left

off, and that idea, how much money to build a fab, and in your view, how much is that likely to appen? there is a reason that the chip manufacturers outsourced the manufacturing now? >> yeah, particularly at the leading edge, it is a scale game. and the biggest boy gets all of the profits. what we have seen is that, you know, taiwan semi is becoming bigger and bigger an gaand gaine advantages, and it would be incredibly difficult for the united states to catch up in terms the of scale. so, yeah, i would not expect them to catch up. but there is capacity in terms the of on semi, and they have global factorfactories, and thes others. >> and when you say cutting edge, that is the chips that we

all want right now, and the chips that go into the cars and the chips for ai and the chips for data center, and so when you are talking about the ability to bring back to bring back onshore chip manufacturing, it is not going to make sense in your view the chips that are the sharpest shortages in >> yeah, all of the bets frankly are on intel, and what pat gelsinger can do there and can he restore the u.s. glory, but the odds are in favor of scale and where taiwan semi is, and to people to your point they want nanometer chips from apple so that is where the united states is now, and we can concentrate on living edge, but not leading. >> so reports after the bell, and chris, interesting few days, because we have seen the backlash of the valuation technology with the interest

rates rising, so what is your best guess on how nvidia does, a not just in terms of the beat, but in terms of how the stock react, because the context of this all is very important, the context of the market. >> yeah, it is a high-high bar. they have the post something well above the street tonight, and there is a risk there, but everything is going well in terms of the core business for them right now. speaking about manufacturing, they are the big winner here. they chose a dual manufacturing strategy with tsm and samsung, and able to get the supply when others can't we have a crypto mining thing going on again to benefit them. so they are going to sell everything they can, and they can sell more than others. >> do they get good color on the demand of the crypto mining gear on the earnings call >> they don't. they claim they can't track it, but i think that is a good and

fair disclosure. they have however created a specific crypto mining gpu that they just launched a couple of weeks ago with the incredibly high margins for the company by the way. but they will have color and break out those specific sales going forward. >> curious, chris. how many phone calls do you get inbound from clients regarding the impact of the higher rates on chip stocks, and whether it is a real impact on the borrowing cost or the rotation out of the higher value name, and are there names in coverage universe that you think could withstand a rotation out of tech better than others >> yeah, i mean -- yeah. i think that portfolio manager have their own idea of what is going nnon in the macro, and apy it to their portfolios, and they don't look at me to figure out the interest rates for them, but in terms of the otation, it is

simply a rotation out of, you know, the high valuation names into the low valuation names, multiple names, and that is absolutely happening in semis as well. a outperformance in the bottom as of late. >> thank you, chris. thank you for your time, and always good to speak to you. christopher rollland at susquehanna. the johnson and johnson vaccine is one step closer to authorization. meg tirrell with latest from the fda. >> good morning. this morning the fda released the documents ahead of the advisers who at the end of the day are going to vote on it. the documents are a first look at what the regulator thinks about the vaccine. looking at the graph, the protection is the blue line there really kicking in after two weeks after the shot. of course, this is a one-shot vaccine, an unlike the mrna vaccines you don't have to wait three or four weeks for the

second shot to have the protection kick in. it is one and done here. and so unlike what we saw with the clinical results in janway, completely protective against hospitalization and death even though we saw different efficacy in regions like south africa, there was not that protection in the virology there. and so there was no preclusion to the emergency use authorization, and the kinds of reaction is injection site pain, and fatigue, and headache and muscle pain. and so in some cases there were some people getting hives after the shot, and one hypersensitivity reaction but not a kis of anaphylaxis which we have seen in rare instances with the pfizer vaccine. now, what is next for the vaccine? that meeting of the outside advisers friday, and they will vote at the end of the day, and if that is well, the fda could give the green light over the weekend and the cdc is going to meet, the advisory group to discuss any considerations about the vaccine, and then we just

learned from the white house covid briefing today, three to four million doses that would go out next week of the j&j vaccine ramping up by march, and 100 million by june with the one-shot vaccine which is enough for 100 million americans. back to you. >> and mel, any part on the part of fda now that we have more data of the three different vaccines is approved for the eua of what vaccine is more appropriate for what group of people >> it is an important question, and that is something that we will be listening closely to. and they often make recommendations of who is most suitable for what group, and we might hear that from the advisory group, and that might shake out over the weekend, and we will see if there is a specific recommendation as to which vaccine. >> thank you, meg tirrell.

and we will speak to the ceo, and the consumer a the and the bitcoin investments. and the biggest fast food name in the world is getting into the sector, and the look at the chicken worlds, and mcdonald's strategy to catch up. we will be right back after this. ♪♪ in boxing or any other business, one day, you're gonna take a hit you didn't see coming. do you stay down? or do you get up? [announcer] and this fight is a long way from over, leonard is coming back. ♪♪ ♪♪ nice game. your crosscourt shots are killing me. give any thought to that proposal i sent you?

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shares of overstock.com are on pace for worst day since november and despite beating the earnings expectations on the top and bottom lines. they had big gains in the q4 and the full-year revenue. it is seen not only as a retail play, but bitcoin currency. they started to accept the bitcoin in 2014 and the stock gained the day that tesla announced they would accept bitcoin. and jonathan johnson joins us, the ceo. and how should investors look at overstock. you make it clear, three different businesses and retail is the core business, the one that makes the money, and the stocks are correlated to bit koip,b bitcoin, san diego that the way that people should look at

overstock? >> well, withe are a home furnishings company. we are invested in blockchain company, and we are going to have a venture capital firm to see the oversight of those as soon as we get governmental approvals, and we are a company that brings dream homes, and that is how we want our investors the look at us. >> the stat is that the stock moved on the day that tesla added that bitcoin was added to the balance sheet speaks volume, jonathan, so is this partnership to oversee the venture enough to make the investors refocus on the core business. in your heart of hearts would you like overstock to trade with the xlrt or the bitcoin? >> well, if we are right, the home furnishing retailer, but we

are not doing this deal with pel oishgsn to change how investors look at us, because we have done this deal because it is best for the portfolio companies and the venture capital firm is going to help maximize those company's values and thus maximizing the overstock share values, and that is going to help those companies to grow, and have successful economic outcomes, and we are going to keep focusing on running our core business which is overstock.com and online furnishing company. >> i have a lot of questions about t-zero in that, and i do want to ask about the core business and what are the trends into the fourth quarter and the beginning of this year. did the consumers keep up with the pace of purchasing or enter the tougher comps? >> well, the consumers did keep

up the pace because we grew year over year in the fourth quarter as we had discussed on the investor call this morning and like q4, and q1 to date has remained strong. and yes, the comps will be tough towards the the end of q1 and q2 and we believe that we are operating better, and we have lots and lots of new customers that we can retain. so we are in this for the long haul, and swee we see sustainab and long haul profitable growth is where overstock wants to go. >> i want to talk about t-zero, and that is the platform that you saw regulatory platform to trade securities to trade the platform, and where is that standing right now, and nowadays so much interest in the nfts, the nonrefundable trades.

>> well, what is unique about that is that the securities trade and settle on trade plus zero, t-0 days rather than the t- t- t-plus2 that has caught the market. and as far as nonfungible tokens, and yes, those can be traded on the t-zero, and any asset that has value that the owner wants to create liquidity in whether it is real estate, whether it is an artist's futur income, and all of those things can be securitized. >> when you saw that for t-zero basically, what did you think and do you think that overstock could play a role in how trades are settled in the future, and

this is what the robinhood ceo wants to do, but t-zero wants to be a competitor to robinhood or the coin-base. >> well, t-zero offers what coin base has, and we have a crypto wallet and allow for security tokens to trade and t-zero recently got a broker dealer to allow for mns securities to trade and t-zero is going to bring it together. there is no reason in 2021 why the trades can't settle immediately or at least the same day they are made. but t-zero is doing that, and so i think that the tdc can do it, and the partnership between them would be an interesting thing to look at and discuss, because i think that we have the technology that allows it to happen right now. >> technology exists right now, and it is not used all of the way up to t-plus 3.

>> yes, t-plus 2 or t-plus 3, and why go back to bicycle boys delivering the stocks in person, and it is just that crazy. >> jonathan, great to get your thoughts and thank you for your time. >> thank, melissa. >> jonathan johnson, the ceo of overstock. and today, the ev stocks have had a rough month, and so has wall street's love affair with the sector starting to lose the spark. and the stock is up 20% after reporting record earnings and up 30% this year, and we will reveal the name, and speak with the ceo with "the exchange" back in two.

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welcome back to "the exchange" the markets are at session highs and the dow up almost 400 point, and the s&p 500 up about a half percent and the nasdaq up about 0.7, and look at the energy gain at 3.9%, and for the week, energy, the sector is up about 10%. these are some of the movers. cannabis stocks up, and shares of american eagle are trading at the highest level in 2 1/2 years in an upgrade to outperform cowan, and they are expected to double, and that stock is up 30% so far this year. shares of six flags are higher

despite a ig bbigger than expecd loss. six flags is trading up by 2%. now, over to rahel solomon for an update. >> the is the news this hour. the postmaster general apologized at a house hearing for late delivery of letters and packages in the holiday season and apologizing that the delays were unacceptable, he said that the delays were blamed on reasons before he took the job. >> the lack of precision were resulted of a system that does not have adequate resiliency to adapt to changes circumstances. >> and after the ceremonial swearing in linda thomas greenfield, the new u.s. ambassador to the united nations

said that diplomacy is back, and multilateralism is back and america is back. and mitt romney who voted twice to convict donald trump says that if the former president runs in 2024, he is pretty sure that trump would win the republican party nomination. tonight on the news with shepard smith will cover trump's speech at the cpac convention. and consumers are ready to hit the road again and it is black history month and we are honoring some of the cnbc contributors. here is new england patriot brandon copeland with some advice for the next generation. >> my advice for the next generation of black americans is not to wait for the epinformati, but seek it out. take ownership of your financial education to change not only your life, but the life of your family forever.

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welcome back. two major moves in the electric vehicle space, and in two hours, fisker is surging up nearly 30% after a deal is signed. and workhorse is up after a deal with oshkosh. and now, neo is down 10%, and e -- is up as well. and so joining us, jamie, and thank you for joining us. what do you think about the fisker model >> well, fisker is a unique ev

company where instead of producing everything in house, and to outsource everything to contract manufacturers, and the key question is if they could produce it. unlike magna who is a contract manufacturer for autos, and so there is risk, but nevertheless, it is something positive for the industry. >> and how do you view it? if given the choice, and i understand that we are all working from jamie, and i can hear your dog, and so thanks for enduring that. but in terms of the deciding is on, you know, this sort of the magna model versus the fox conn model, is that going to add more risk the fisker story? >> first of all, yes, the fisker story is going to be built by magna starting in 2022, the ladder half. so that we know is going to be produced. now the other models, and yes,

foxcom foxcom is not a manufacturer so and so there a risk. but a lot of the evs are startups unlike tesla who has been a manufacturer for years. a lot of these evs still don't have a prototype on the road, and they still have a production forecast in the last half of 2022, and sometimes into '23 and there is a lot of risk. and the biggest risk is not only production, but supply of equipment like cells that tesla mentioned and also battery. and battery constraint could be something that limits the whole. so there is risk across the board and not just for fisker, but with fisker using a outsource model, the risk, and the production which is for fisker, fisker concentrate designing what they called passiona and car that consumers want and to have somebody else build it for them.

>> it is hard to sort of, i don't want to say come up with the model, because the model is the model, but how the stock trades is how the stock trades and the two are very different stories these days with the entrants of the retail investor, and the high interest of the retail investor, and so what are you considering the high valuations of the space, and whether or not these stocks are going to be actually buys right now despite the runs >> yeah, they are buys, because if you are looking at most of the price targets, it is based on 2023/24 production, so a lot of the investors are like, i like this stock, and all value, but normally the stocks are all value, and you could make that argument, but on the other hand, you say that investors are looking for ev investment, and looking to pile into esg names, and so that is a name, and the

valuations are a little bit ahead of each other, but they will catch up when they are producing cash flow. >> jamie, we have to leave it there. thank you so much for your time, jamie perez. >> thank you for having me. and the stocks of marriott are higher as the trade is gaining momentum. we spoke with the ceo a short time ago with seema mody. >> and so, trying to grow the marriott portfolio, and while the hotel occupancy is lower than 50%, he says that they are leading the recovery and that the vaccine demand will continue to improve, and for those calling for end of the business travel, he is wholeheartedly disagreeing, and says that the customers are anxious to get back to face-to-face. and prior to the pandemic, 60% of the rooms booked were business travel. so it is crucial for marriott to see the demand recover. marriott recognizes the interest

in vacation rentals with 25,000 property, but he does not anticipate it being close to the scale of air bnb which has 5,000 active listings, and air bnb is up 5% ahead of the earnings report tomorrow. and we will look at how main street is faring tonight with a special report with carl quintanilla on a special "the path forward" airing tonight. so you don't want to miss that. and reporting a record quarter despite a supply crunch. d n'ill talk to the ceo next andot forget that youcan watch us on the ceo app next. "the exchange" will be right back. we needed to make sure that, if they couldn't get to the food, the food would come to them. we can deliver for food banks and schools. amazon knows how to do that. i helped deliver 12 million meals to families in need.

that's the power of having a company like amazon behind me. i have an idea for a trade. oh yeah, you going to place it? not until i'm sure. why don't you call td ameritrade for a strategy gut check? what's that? you run it by an expert, you talk about the risk and potential profit and loss. could've used that before i hired my interior decorator. voila! maybe a couple throw pillows would help. get a strategy gut check from our trade desk. ♪♪ - [narrator] grubhub perks give you deals on all the food that makes you boogie. (upbeat music)

get the food you love with perks from- - [crowd] grubhub. welcome back. horizon therapeutics is rising high after the third straight rise in quarters the company beat the estimates

despite the supply crunch to treat thyroid disease. the shares though keep turning higher up 170% in the past year. for more we welcome back the horizon therapeutics president tim wahlberg. thanks for joining us. >> good to be back on. >> can you talk about the supply crunch and when it is going to be resolved. >> well, you don't want it to happen, but it happened for a good reason, because it is to ensure that the covid-19 vaccine production meets the expectations, so we have submitted larger scale manufacturing lots with the fda and working with them to get that resolved shortly and working with the contract manufacturer to make sure that we have supply moving forward. so hopefully by the end of the quarter we will have that resolved and back to helping the patients. >> as i understand it, the production order from the government came sort of at the e end of december and can you tell us how you are going to treat

patient ms.s in the end of the r quarter and how did the fourth quarter stack up >> from the revenue point, we had 344 million of subks kwen shall growth. and unfortunately there is a supply issue, and we will be back to getting that going. >> if you have the fda approval for the expanded lots what is the projection >> $2.75 billion in projected sales for the full year for the overall growth of 2.7 to $2.78 billion of growth over 2020. >> another item that analysts

were excited about the growth of new drug christxia. >> it is for treatment of gout it is up 19%, and we expect that to grow to 500 million here in 2021. so, strong expected growth, and really sets us up well for the acquisition at the end of the quarter. >> tim, we are going leave it there. thank you for your time and we really appreciate it. >> tim walbert, thank you. and now, the chicken wars are heating up. and that is time for show and tell. we show the chart and tell the story. the chart today is square. that stock is down by about 6%, and 6.5% on the mixed results a

as the company is doubling down on bitcoin and adding 170 million worth on the balance sheet. this is how the square ceo addressed the risk volatility. >> we experiment, reiterate and take a disciplined approach. so far the investment is 5% of the cash, and the bizusiness tht we have through the cash app is 5% of the growth profit, and we will be dynamic and respond to the market environment and tite that long term commission is what we are investing into. e through smelling of mistletoe. the now platform lets us identify problems before they became problems. if only it could identify where my ball went. this you? hmm... no, mine had green lights. whatever your business is facing. let's workflow it. maybe i should workflow my swing... servicenow.

charlie berger making some strong comments, as he often does becky quick has -- >> charlie munger is taking no prisoners. he's always speaks his mind. he isn't holding back, insulting almost everybody and anybody associated with wall street. i'm even turning it off, because there's a new one about every

minute he started off with spacs, what do you think about spacs the investment banking will sell crap, as long as crap can be sold, except he used forexplicit things he also started talking about what he's seeing about wells fargo. why has when berkshire has selling so much? he said, i don't think it's required that we absolutely have the same sort of situation as berkshire. he did sit he was disappointed by the former management, but they definitely made some bad decision, and he said you can understand why warren got disenchanted to explain berkshire shares i'm a little more tolerant i expect less out of bankers that he does he's never been a fan of bitcoin. a few years ago, i think he called it rat poison this time he was quiet her at

first. he said it's the equivalent of digital gold since i never buy gold, i never buy bitcoin and i would recommend that others do the same he quoted oscar wilde, saying it's the pursuit of the uneatable by the unspeakable, and added we will not be following tesla into bitcoin a great one he just came out with -- what do you think is worst, the valuation for tesla or bitcoin he's quoting someone else and i missed the name, but he said i can't decide between a flea and louse, i don't know which is worse. and about ge -- i never liked the culture. i was not surprised when it blew up he said that larry culp, he thinking better, but if you hear any roasting that's taking place, you have to listen to this meeting charlie munger at the age of 97 is literally taking no

prisoners. >> i always like hi zingers. mcdonald's is finally getting into the chicken sandwich fight it kicked off in 2019 kate rogers has all the details. hey, kate. >> hey, melissa, this is a sandwich that both franchisees and fans have been waiting for, but the competition is very steep. take a look. >> it's got me really fired up. >> all this clucking is big business mcdonald's is officially getting in on the chicken wars with its sandwich launch, while the golden averages has had a -- this is their premium. >> i suspect they will catch up, only because they have an advertising budget that dwarfs everybody else. >> beef around the bird has been ongoing, picking up when popeyes's launched is premiemiu

chicken sandwich this sparked a war with legions of fans. >> ♪ somebody loves their chicken sandwiches ♪ all of this is big business. u.s. consumers ordered 2.6 billion chicken sandwiches last year, according to the npd group, most from quick service restaurants. restaurants big and small are getting in taco bell says it's testing a crispy chicken taco. burger kind said one is on the way and kfc recently rolled out new products now, all eyes may be on this chicken dance, but burgers are still number one last year consumers consumed about 7 billion of them, but doordash says the fried chicken sandwich was the second-most ordered item behind only the

chicken finger kate, how should investors and analyst view the addressable market for a chicken sandwich? is it fixed so that they're all going after the same fixed pie, or does it expand? >> you know, analysts believe it can expand obviously mcdonald's is one -- and franchisees have been waiting for, but they're over a year and a half, not late into the game they have more prep to get ready for, but about 65% of qsrs are offer some type of chicken sandwich, whether hand-breaded or fried does the market get oversaturated? we'll have to see. the fans really are the ones that way in and create a lot of the buzz. >> have you had it >> i have not had it yet it's still a little early in san francisco. the day is young, we'll see.

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welcome to "power lunch. contessa brewer will be with us. stocks you are surging we're at the highs of the session. the market shrugging off rising interest rates we'll tell you what is driving this comeback to stocks today. buying up the cryptocurrency sit. could the bank stocks be the next to dive into the cryptocrazy. later, a toy turnaround. and a strong consumer thank to more stimulus checks we will talk to the ceo of mattel, as "power lunch" starts right now.