seeing that performance as well. up 21% this year steven, thank you for joining us today with seemo mody. thanks to you seema as well. that does it for "the exchange," everybody. thanks for tuning in tonight "power lunch" picks things up right now. kelly, thank you hello, welcome, everybody, to "power lunch." i'm tyler mathisen a busy monday ahead for us the markets today keeping those winning streaks going, continuing to hit new highs. nasdaq on pace for its 11th higher close in a row. the s&p 500 up eight straight days so far at least is this melt-upset to continue we will explore that. plus, caterpillar giving the dow a boost on the passage of that infrastructure bill on friday night citi group says this is not, not, not a sell the news kind of event. which stocks in infrastructure can you still buy on the construction side and maybe on the electronic vehicle side as well because there are sweeteners in

there for that it is not just stocks that are rallying crypto, too. ether, a new record. bitcoin, just short of its all-time high. we will dig into today's crypto rally. >> tyler, thank you. small gains, but they are gains. that's bringing all three majo afternoons to record highs today. in terms of winning streaks, 11 days for the nasdaq, eight for the s&p, seven out of eight for the dow. caterpillar is the biggest gainer on the do you on the infrastructure bill. beere also higher, caterpillar is up 3.5% the alternative energy and ev names are getting a huge boost fuel sell company fuel cell up evgo up, too tesla is well off their lows, the stock dropping after the twitter poll told elon musk to sell 10% of his shares in the company. look at amd.

signing a deal with metato be a data chip supplier the move sending it up >> with the house passing the $1.2 trillion infrastructure bill our next guest says it gives the market more room to rally. it could be a boost for certain stocks including steel names, and some energy stocks that have had massive years. with us now, loreine gilbert of wealth wise financial. good to have you with us overall, how much of a boost do you think this legislation will give -- now a law, basically, as soon as it's signed -- will give to the market generally? >> the macro picture is that it boosts the economy and creates more jobs. so just as the market was looking, where do we rally from here, we now have a trillion reasons to be excited about the market and it comes at the time just as the fed is starting to taper if we look at those numbers, the federal tapering $15 billion a

month. that's $180 billion a year now we are going to have over $200 billion a year going in over the next five years so it's a good one-for-one play. but the difference is with this infrastructure money there is a multiplier to it instead of sitting on a balance sheet it now can create more productivity in the american economy. specific -- >> and you -- go ahead, please continue. >> i was going to say, specifically some areas that we like, as you were mentioning, is looking at what's behind roads, bridges, railways. it's all going to mean steel looking at those steel companies that have been in a sense esg improvers, you and i have talked about that in the past, who is doing esg improving, companies like nucor or steel dynamics that don't use coal, but they are looking at gas and using improved methodologies to create that steel, such as recycling. >> so it's -- the reason they have an edge is that they make

steel using natural gas-fired smelters as opposed to coal-fired ones, and that that will give them an edge and you also like next era energy why do you like that one >> that's the energy -- the grid that's looking at improving that energy grid infrastructure and there is $65 billion there going into the grid. so with that, next energy, looking at the way they do things, they are committed to being 100% renewable they are the leader when it comes to wind and solar. if investors are looking to invest in companies that really are innovators and future-looking, these are the kinds of companies we see investors would be interested in >> yo don't you think these are priced in already? because we have been talking about the infrastructure bill so long now i think there has been some

pricing up to date we have seen materials soar. we have seen some of these areas run up quite a bit but we think that there are -- if we just look for instance at next energy, they are currently at 16,000 mega watts, and they have got another backlog of 18,000 mega watts. so there's a lot of room for growth in these companies. some of it has certainly been priced in. we think there is more room to grow. >> how about some of the other companies -- i mean you highlighted for us, and we are grateful, the steel names. but there are also the aggregate companies like vulcan, the martin mariettas and some of the others they would stand to benefit, too. i am not asking you to range out of your sphere of coverage, but -- >> but, absolutely, those are names to lock at as well that are, you know, top material picks. and eagle materials as well. these are some different companies for investors to look at. >> all right loreine gilbert thank you for

your insights today. we appreciate it. >> thank you. as we mentioned, shares of electric vehicle charging companies are surging today on the news that the new infrastructure bill will provide $7.5 billion to ramp up ev charging infrastructure nationwide is this a case of late but worth the wait or are these moves today not justified? joining us now to discuss who could be the biggest winners, vick ram bagry it is great to have you back when you look at the price action, do you think it is too late or is it playing catchup to the fundamentals that are justified by the passage this bill. >> i think it is catching up i think there is more room for the companies the run up the sector struggled a little bit this year due to a number of factors. inside their sales, lock operations for shares for companies that went public recently, shortages, and increasing competition there are a lot of companies going public through spac this year today's rally si feel the

beginning of increasing share pricing for this subsector longer term. and and i think there is a lot more room to go. especially if the build back better framework is approved as well. >> blink looks like it is near your 32 price target now charge point has it, you have 35, it is around 25. volta, you have a target of 15, trading at 9.32. big surges already happening today. >> i think theblink relies heavy on business from government. they have shown ability to attract government money and government funding they have a contract with government that requires government agencies to buy their solar charging ev product

without any added fee process of free agreed terms and pricing. those companies are seen as a big beneficiary. >> beem, that's the number that's the ticker there. the core problem for charging stations the demand utilities put on them. is there a plan to compensate utilities for these spikes or exempt users from them i know utility companies are dealing with these issues on their own. but it doesn't seem to be economical to build out ev charging stations especially when they are not getting a lot of usage >> they are charges anywhere from 340 to 50 cents per kilowatt hour.

the margins are high we think those come down longer term but -- we are going to find anything to the effect of how ev charges should interact with the utilities. there is a lot of language around how the data should be collected from charging stations and given to companies and utilities so they can better manage their infrastructure but there is nothing specific about how the charging framework should work. >> what am i going to notice five years from now that's different because of this $7.5 billion? it sounds like a lot of money but, really, it isn't when you consider that $5 billion will go to the 50 states i wonder, how much am i going to notice is different. $275 billion goes to a grab bag of alternatives, hydrogen, natural gas, propane, not just evs. >> let me put things in context.

there are 130 public charging polls in the u.s 55,000 stations today. we are lagging behind in terms of ev penetration and ev infrastructure relative to countries in europe. there is a lot to be discovered and a lot to be understood about the bill but if you take broad numbers, it seems like the bill -- spending in the bill has potential to triple the charging network longer term on its own to another data point to put things into context, is all the publicly traded companies, ev charging companies today have about cole date issed $3 billion in cash on their balance sheet for three to five years. 7.a $5 billion funding is twice as much as that cash it gives them dry powder, fire power to expand even more aggressively longer term those are prettybig numbers.

another data point i would highlight is if you look at the revenue line charge point is 225, $230 million. and other three teams, beam, blink, and volta have less than $50 million annually this level of spending gives them a significant boost in terms of revenues, revenue projections for the next several years. and their capacityto deploy recharging infrastructure much more aggressively. >> not only bill -- if i am understanding you directly, it not only builds three times as many charging stations as we have today, but it gives these companies leverage to build even more am i understanding that correctly? >> exactly $5 billion out of that 7.5, federal government will provide 80% of the funding for the charging station, 20% will come from outside. >> vick ram, we appreciate your

time today. coming up, why are cryptocurrencies rallying? why not? bitcoin getting close to its all-time highs ether setting a new record the reasons for the rally next and natural gas has more than doubled this year. and that could be setting up the united kingdom for a cold and costly winter. we will take you live to london for the details. and energy stocks among those hitting new 52-week highs today. exxon, chevron, ford, mgm resorts also on that list. "power lunch" will be right back i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com

it is not just stocks that are at all time highs today. the crypto world is setting records of its own ether rising 4700 for the first time, up 57% bitcoin up 50% in that period of three month. other currencies like litecoin and doelk coin are joining the rally. for more, we bring in two guests bkcm digital asset investments where doong we are seeing this rise to new heights here >> well, i mean the crypto market has been driven by adoption, right? we are getting new investors in. a lot of it being u.s. macro-based investors. and they are starting to use bitcoin to hedge out inflation then what you see is once people tend to get into bitcoin, then they start to spread out what we saw over the last couple

weeks was big banks like jp morgan came out and said listen it might be better to buy ethereum over bitcoin in this type of environment. but the message is that institutional investors are here, they are investing and that's what's keeping the bid under the market. >> frank, you think there has been catalysts from the futures etf or the funds being raise by soft bank and others, major new fun launches, that kind of thing. >> yeah, you see a vast amount of capital pouring into this space. that's been pushing up val valu valuations i was talking about one start-up that's raising at a $400 million valuation in the none fungible token market the amount of capital pouring in is immense. >> nfts specifically, how much has that been a catalyst of

interest >> the value kicks up to the block chains on which a lot of these different projects are being. build. you have nfts on salon, on ethereum as the nft products and projects launch or metaverse companies launch as well that's going to kick up to the companies on which they are built facebook announcing they are going all in on the metaverse has been a boone for companies offering services in that market i think you are going to see a huge wave of new entrepreneurs in the market will which help prices as well. >> brian, what is the regulatory risk here as these cryptocurrencies seem to be getting more and more traction, more and more value, and institutional interest what do you think might happen there? >> yeah, so the regulatory risk is declining i mean, relative to what it was two or three years ago when you really didn't have a sense of what the regulators were thinking what we have seen, and we have

we have heard from the regulators is that this is a new technology, a new industry they don't want to stifle growth in that but let's figure out the framework to go around what these assets are i do think there is still a regulatory risk that something one of these coins are doing today may be something they cannot do in three or six months, that risk is diminished almost entirely because the regulators are understanding what is going on here, that it is new technology and a growth engine for the u.s. economy. it is one of the only big growth areas particularly now that facebook said the metaverse is going to be something new. crypto has been in the metaverse for a long time. >> on that note, brian, does it go back to facebook renaming itself, changing the ticker and all the rest of it as evidence this is all going mainstream because when you talk to people who want to invest their money in this space do you basically

tell them stick with bitcoin or is it look into nfts, ethereum, think about the metaverse, that sort of then >> i think you do need to take a portfolio approach if you just buy bitcoin you are going to capture let's call it 70, 80% of the upside of crypto. it is independent can of like buying a s&p 500 index fund. you are going to catch all of it if you want to big into what this new technology is you do want to look at ethereum and solana er are, a lot of these other protocols work very much like a digital oil that you need these tokens to use the protocol w. ethereum on a lot of this, they actually burn that so you get a declining inflation rate or declining supply of these. serves if you go furtherer around the curve on bitcoin you get a lot of the characteristics

of bitcoin lus this kind of new tech call option ticker. i would encourage everybody to look at the top 30 or so cryptocurrencies by market cap. >> you have got to be careful or you might get squid game in there for a day or two. >> you may i try to stay away from the squid. i am a calamari guy. >> thank you for talking crypto. covid on the ropes regeneron saying a single dose of its cocktail drug could provide long term protection against covid. this following pfizer's announcement of a treatment next week what this means in the fight against covid next ♪♪ ♪♪

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welcome back i'm that held solomon. here's your cnbc news update at this hour. the justice department today highlighting some progress in the u.s. fight against ransomware $6 million has been seized from an alleged attacker in russia. and the u.s. is hoping to extradite another man, a ukrainian, who has been arrested in poland.

>> this arrest dhon straights how quickly we will act alongside our international partners to identify, locate, and apprehend alleged cyber criminals no matter where they are located. syria's state tv says air defenses are intercepting hostile missiles coming from israel last week syria sent an israeli air raid. migrants are trying to enter poland from belarus and at new york's jfk airport, emotional reunions as the u.s. reopens its borders to vaccinated international travelers from britain and more than 30 other countries.

pandemic restrictions have been in place for the past 20 months. tyler, it's like that scene in "love actually". always makes me cry. every time. >> thank you very much. let's tell but regeneron releasing new details on its covid-19 cocktail claiming it could protect people from the virus for months especially those are weakened immune systems. meg tirrell has the latest the new developments keep coming. >> they do quickly, tyler this is drug that's been around and used for treatment of people who having diagnosed in people at high risk of progressing to severe disease it is also declared as a prevention in settings, people exposed or in institutional risk of exposure. here they tested it in people who are host how would contacts of others diagnosed with covid they found that following up through eight months with just one dose it could prevent covid by 81.6%, all the way out through eight months

so that's in that initial exposure period when the person in the household has covid, but then also for the seven to eight months after that when potential exposure could come through the community. so regeneron is going the use this to support its application to the fda for expansion of its emergency use authorization to preexposure prevention they say in particular this could be helpful for people who are immune compromised who perhaps don't get enough benefit from vaccines. that's about 3% of the population they have been waiting about six months for the fda to act on this application for emergency use authorization. regeneron up today 1.7%. pfizer and merck of course they have had huge news on anti-viral pills for covid. pfizer's just coming in on friday >> let me make sure i understand is this regeneron cocktail effectively -- does it take the place of an immunization, a vaccine? does it work that way? what does it do? >> so, the reason we take

vaccines is they essentially get our immune systems -- stimulate them to create antibodies to be able to recognize the coronavirus if we encounter it the rejen ran drug essentially delivers the antibodies so your body doesn't have to make it that's why the immunocompromised could benefit so much. >> question that came up over the weekend when we were talking about the pfizer pill was is it still worse for your body to experience exposure to coronavirus than to experience exposure to either a vaccine or this antibody cocktail do you know what i am saying what are the differences between, and the risks, i guess? because it still seems like coronavirus has such strange ways that it affects your body, unpredictable as well. i am curious how that would all be weighed >> absolutely. the public health authorities will say vaccination is the best

approach across a broad swath of population for providing protection better than encountering the virus without the vaccine. in terms of the drugs themselves they are likely to be cleared for everybody at least at high risk of a high covid in terms of the side effects potentially of the medicines. they do differ, they will see how that shakes out through the fda clearance process. there would be different considerations for each different thing. >> so interesting. meg tirrell. ahead on "power lunch," the growing power crisis in the uk why energy production cutback asks shortage this is winter could put the country's economy at risk. what the u.s. should be doing to avoid a similar crisis we are back in a minute. this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture.

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welcome back 90 minutes left in the trading day. we want to get you caught up on the markets on stocks, bonds, commodities, and what is shaping up to be an energy crisis in the uk let's begin with stocks once again at record highs and on pace to continue some pretty long winning streaks bob pisani watching the action down at the new york stock exchange bob? >> it is pretty impressive, kelly. but we have run out of steam in a couple of areas. let me show you, some of the

consumer names we had historic high on pepsi on friday but they are all week today. consumer names in the dow, coca-cola, mcdonald's, proctor and gamble, johnson & johnson, all on the weak side kroger down. cisco, kraft heinz, a lot of these have been haven't been major contributors to the market, pepsi has recently but weakness today same with the retailers. nike has been a monster all year it is a big drag on the dow right now. dow is a price weighted index. nike is fairly high in terms of the price. that's weighing on thing the jx ross and gap are sideways what is holding up and the reason the market is holding up is generally technology keeps holding up the old high list is littered with advanced micro, broadcom and kla. what is strange is how broad the rally is you very rarely get historic

highs in all theindices at the same time. but you very rarely get this deep into the year wherever i think issel major index is up almost the same. s&p 500, mid caps, small caps, and even the nasdaq. kelly, the main thing that happened -- we will talk more about this tomorrow, the record margins we have been seeing. a lot of the bears have been anticipating that in the third quarter and fourth quarter margins would deteriorate as costs went up. but they didn't because corporations have been able to raise prices >> much better than expected the profit margins. the bond market now. ten-year yield is below 1.5% rick santelli can maybe explain why. hi, rick. >> hi, kelly indeed longer dated maturities are

finding buyers short-term maturities, like the three year, well, that makes sense. we didn't have a terrifically priced auction even though some of the aspects of the three year note auction like foreign demand were very strong if you look at 30s compared the threes on the yield curve, the difference of 117 basis points is the flattest in 15 months, august of 2020 if you look at a three-day chart of 30-year bond yields, which means after the fed wednesday, thursday, friday, and monday, it's lost about 15 basis points. and that's exactly what kelly is talking about, finding some good investor love on some of these long-dated securities. and finally, when it comes to treasury inflation-protected securities, known as continues 30-year bond continues started out in 199 so does this next chart, which shows you it is at the highest price, the smallest yield,

justing in under negative half of one percent in its history. it shows us the buyers ari buying those because they sense bigger inflation levels around the corner back to you. >> oh, boy, interest rates, real rates still deeply negative. amazing. rick thank you stocks are up, bond yields are down what about oil let's go to pippa stevens at the commodity desk. >> oil starting in the green after posting two straight weeks of losses. saudi arabia hiking its official selling price for asian customers. wti is up 1% at 82.05. brent crude at $83.55 for a gain of 1% as well. all eyes are now on whether the u.s. responds to higher oil prices, which has pushed gas to a more than seven-year high. tapping the strategic petroleum reserve is among the options but ubs noting that this is a

short-term action saying it won't address the structural issues of underinvestment and rising demand. kelly, back to you. >> pippa, thank you so much. we will check back in with you tomorrow it could be a long cold winter out in the uk as the country faces a power crisis there. brian sullivan is live in london looking at how bad things could get if the weather gets really cold brian? >> it is all in the weather's hands right now. i will give you an example for the five-year average price if you run it guy natural gas is at 18 bucks. it is now at 79, up 400% that's off its high of a couple of weeks ago it has been a worrisome time in england and in the eu as well. couple thing people say how did you get here? it wasn't one thing or one person to blap it was a lot of things happening at the same time four years ago england shut down its only natural gas storage unit they have to buy a lot because

there was no place to store it then they went to renewables the problem is you need the wind to blow. the wind literally did not below blow they have no options no country produces for natural gas here than in england and then brexit. why does brexit matter they had a lot of power sharing deals across the eu. england is no longer a part of the eu now they have to renegotiate contracts. there is a fishing dispute with france which impacted power supply here's the point there is a very real concern that there could be people who lose their lives this winter because of the cold. there are many people living in what they call fuel poverty. the utility caps are stabilized. you can only raise rates by so much, and that rate changes every year the government just allowed the largest ever rate increase, kelly, to come through in other words you have people whose heating bill may have been

150 pounds a month it may go to 225 pounds a month. those on the low income scale, a few million brittons, that leaves them energy negative. many have to choose between eat asking heating a tough choice. >> two questions first, where does great britain get most of its natural gas? you say it is highly reliant on it you touched on, but go into more detail what is happening in france, italy, spain, the netherlands, other countries in europe >> france is fine. they have got nuclear. france is not 100% nuclear but they are close spain is having problems you have stories of people doing laundry at night when electricity prices are lower in germany, coal has made a comeback coal use rising dramatically in germany because they simply didn't have natural gas

supplies or they had issues with solar or wind nobody is knocking renewables but you have to have them perform. the problem is you don't have a lot of storage you can star gas in underground mines or an undersea mine like the uk did, or a tank. with renewables you tend to have to use it or lose it where do they get most of that power, i will take your first question second, tyler, which is they buy it. it was never really an issue before natural gas held steady. it was cheap for a long time the problem is that this is not an uk story, not an eu story that's the reason why i am here. we care a lot about our friends in england this is a global story china buying at the time time. brazil had a drought, they are buying liquified natural gas the entire world is going after the same assets to have power which means prices are doing this which means utilities have to buy it we have already seen i -- check this out england is one of the most

deregulated energy markets in the world. 70 or whatever small to mid-sized power companies wanting to sell you power. half have disappeared in the last month in some cases literally shutting their doors and vanishing overnight. everybody is praying on two things here, guys, the weather to be warmer in the winter and a guy named vladimir putin to do the right thing and give continental europe more gas. putin is playing hard ball because he knows they are caught between a rock and a hard place. >> brian sullivan reporting tonight from london. coming up, an industry that many thought would never recover from the pandemic. we will easpk with the ceo of brookdale senior living about the company's strong growth over the past eight months.

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welcome back, everybody. brookdale senior living hit eight skukt months of occupancy growth posting the highest jump in six years also giving guidance for the first time since the pandemic started the ceo saying the company is firmly back on the road to recovery shares are a little bit lower

today but up 65% this year for more, let's welcome brookdale living's ceo, cindy buyer. occupancy levels are returning, rising, do you have enough people, can you find enough workers to serve the people in the facilities >> we are very grateful, tyler, that we have had eight consecutive months of sequential occupancy growth it is our best occupancy growth in six years and there is no question that it is a tight labor market. but we are able to hire dedicated caring workers to take care of our seniors. and that has really driven our growth we are pretty excited about the industry we saw growth in every single segment with our strongest growth in our assistanted living and memory care segment. >> are you having to pay more to get or retain the workers that you are able to recruit?

>> there is no question that compensation is a head wind. but we focus on making sure that we pay appropriate compensation, that we give our workers the chance for learning and development, the opportunity for promotion. in exact we just promoted three senior leaders who together have a combined 80 years of experience they are a real power tree quo is this let's talkto the vaccination issue. that would be both of the residents of the homes that you operate and also the labor what are those rates of vaccination? and what do you say to the individuals who are in the remainder, in other words, do not want to, or for whatever reason, cannot be vaccinated. >> tyler, we view vaccines as shots of hope. we are very proud of the culture that we have created for vaccine acceptance todayible approximately 95% of our residents are vaccinated and 95% of our eligible

associates are vaccinated as well for those who haven't yet taken the shot, i encourage you to do so that is the strongest way to protect you and those you love against covid-19 >> cindy, is the lack of long term care insurance a head wind for you? >> you know, we are excited about the increases in social security that our residents will be seeing next year. we do think that senior living is an affordable all turn i have it is much cheaper than ageing in place at home and you get to live in a community among friends. >> again, i think there are maybe people who would like those services but literally can't afford them. i think i was told the other day that long term care insurance provides only 5% to 10% of the total spent on facilities like yours. >> i do think that long term care insurance is an important way to plan. but it is important to know that the vast majority of our residents do pay for our services on a private pay basis.

they do that by their home or by making investments in addition to their retirement income. >> did i understand you correctly, cindy did you say that living in a brookdale senior living facility is cheaper than aiming in place at home? how can that be? >> think about what you get as part of the senior living experience you get your home, your place to live you are freed from maintenance you have your meals cooked and prepared for you someone takes care of your house so you don't have to worry about that then you get the support that you need to live the life that's best for you when you consider all of that, it is an incredible value for our rntsds i think that's why our industry is growing as we started the segment, we have seeneight subsequently consecutive months of occupancy growth and that shows that more and more seniors see our industry as a place they want to grow older in. >> it is interesting if i was a senior -- i have gone

through this with my late opt, if i am an individual who already owns my home, my expenses -- maybe it is a one bedroom kondo, my expenses might be really limited to my kondo fee and to my property taxes i am very surprised to hear you say that, all-in, your properties compete with that. >> think about this. even if you own your own home, there is an opportunity cost for the value of that home you would earn interest if you sold it and you invested the money. so that's what we are comparing it to. again, we see a great environment for our industry we have both supply and demand in our favor our supply has the fewest units under construction since at least 2015 and we see a million new potential seniors entering our target market every year. >> well, that is for sure. i mean, the demographics are a definite help to a business like

yours. cindy buyer of brookdale senior living, thank you very much. >> thank you. still ahead on "power lunch," hardware versus software hp and seagate soaring this year our trading nation team llwi explain why hardware names could be emerging as the new leadership in the tech space stay with us that's the one with the amazing camera? yep! every business deserves it... like one's that re-opened! hi, we have an appointment. and every new business that just opened! like aromatherapy rugs! i'll take one in blue please! it's not complicated. at&t is giving new and existing customers our best deals on every iphone, including up to $800 off the epic iphone 13 and iphone 13 pro. i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management software built for small business. high thryv! help me with scheduling? sure thing. up top. high thryv! payments? high thryv!

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welcome back tech stocks are hitting highs and a best sector over the past month but the guests are split on which area leads the next leg of the rally the team ari wald and nancy tengler. this is a ace-off. let's hear it. >> yeah. i don't know if it's one or the other for us tech is a core position. for the reason of given the broadness. semi conductors, software. and now tech hardware just looking for rotation is turning up looking at the industry group. it's reversing a trend dating back to 2017 so there's some

reation potential there and broad across that group. to mention one, seagate technology broke above the 2015 peak in the first quarter. corrected over the sum ore turning up there's a broad list of stocks that look like that in the group. a pillar within that broadly strong sector. >> what about software and hardware >> i hate disagreeing with ari i think he is very smart on the issues we don't see a future for hardware in that there's a big pull forward in hardware cap x in covid and now software is taking over. software was up 16.5% in the third quarter in terms of total software spend and hardware decelerating so what we're interested in is owning the names that sort of

dominate the cloud so service now, crm and then cyber security microsoft's in that group. we think that's where the marginal spend will go. >> all right we'll leave it there before it turns into a brawl ari, nancy, thank you both today why for more head to the website or follow along on twitter. american airlines plan to entice workers to stick around for the holiday could cost them more than merry wishes. >> now the latest from trading nation.cnbc.com and a word from our sponsor.

american airlines is promising to pay up for flight attendants willing to work the holiday season dom chu takes a look at this story. >> could be pretty big for the overall payout why we have heard the stories of the flight cancelations, the massive number

over multiple airlines in the last several months. they have let a drove of travelers stranded american airlines is looking to head off the issues by devoting more money to make sure that employees show up for work not just for the normal pay for sometimes a significant bump in those peak holiday travel periods. in an internal memo seen by cnbc america's fourth biggest airline says it will pay flight attendants time and a half for those that work in those periods between november 23rd and 29th of the thanksgiving travel season and then december the travel season of holidays and those without absences from the normal shifts between november 15 and just after the new year american will pay another 150% bonus. not just the flight attendants other employee groups getting pay incentives but an example of

what companies have to do to make sure they can stay as staffed at possible. i told people stories about how there's a local starbucks near me to close at a certain time every afternoon. >> very common. >> now this is a company who's going to pay we'll outright pay you more. the problem is not every small, medium or large sized business can keep doing this. it calls into question whether or not this kind of a pay more th thing is sustainable. >> what does it do to the margins? >> erodes them you talk about prime costs for airlines fuel and people. you have that inflation on one end of things it depends on how long it lasts. steve is talking about the idea of the wage pressures eases down the line, will have a real telling part about the next corporate earnings reports in

two to three quarters what can happen in that. >> also why they taub about fare hikes. >> the fares are going up. like i heard this morning like 1%, 2% a day. >> wow. >> that's crazy. >> thank you >> thank you for watching "power lunch." >> "closing bell" right now. thank you, tyler and kelly welcome to "closing bell." i'm sara eisen here at the new york stock exchange. >> i'm wilfred frost good afternoon to you. the action today, the material sector the winner after congress passed the white house infrastructure plan over the weekend. semis are higher amd shares soaring on news of a deal with meta the u.s. lifts the international travel ban. we have all angles covered today. first the ceo of