norwegian cruise lines down. simon property physical retail malls down % a dynamic to watch. >> dom, thank you very much. great to be with you. >> thank you i'll be back. >> fantastic thank you for watching "power lunch." >> "closing bell" starts right now. hello and welcome to "closing bell. i'm sara eisen here at the new york stock exchange. another wild session here on wall street. this time the gains are holding at least so far. the dow leading up 2% heading into the final hour of trading. >> good afternoon. i'm wilfred frost. some of the hardest hit reopening plays bouncing today casinos, online travel names boeing is giving a boost to the dow after a step to clear the 737 max to return to the skies apple underperforming. more on that in just a moment.

59 minutes left in the session with every sector in the green led by financials. >> looking like the best day of the year so far for the dow. two big interviews you won't want to miss speaking with kroger ceo rodney mcmullen it's having a best day since 1993 also talking to the head of five below ahead on solid results >> let's focus on the big stories to watch today mike santoli with a closer look at the rally and jon fortt with the apple demand story why mike, the broader markets up. >> not give on the steady rebound rally i would call it. the market looking oversold. we talked about it yesterday maybe signs of short term capitulation things look so bad they look so

bad they're good and expect mean reverse higher s&p 500 spent the day between yesterday's low and high so even though it is up a lot, up 1.6%, the range yesterday in the s&p was something like 150 points or so so essentially we are just carving out this area. testing both directions. nobody's sure if it will hold and probably a net positive to lift off the lows and not an end of day selling squall that i think is relating to adjustments. in particular, hardest hit is small cap growth area. basically flat for the year and a dramatic one-month sell-off here compared this is large cap growth small versus large cap growth. s&p 500. this here is the small cap

value. so essentially it is still a good value growth spread value over the long term cycles is not the best asset class with expensive and not proven business models and here you have probably the making of shopping in the records. some hardest hit parts of the market a washout in some areas. definitely moderated valuations on top here is s&p 500 the state of market version at 20 1/2 times next month's earnings look at the s&p. that's the rsp basically nets out the impact of the mega caps at a lower forward multiple than early 2018 that wasn't cheap and shows a spread is opening up between the valuations of a lot of stocks real ty to the jove all market and maybe starting to surface fundamental value there. of course as long as the forward earnings hold up as they are

right now. >> it feels like a resounding bounce back today but we have been here before in the course of the last week or so both yesterday morning and monday and a fair amount to prove. >> absolutely. it is always indecisive until you see forceful energy behind the buying but i do think you have to take it in steps and as a first step the market responding to the fact oversold and got through midday and the typical times when people come in and lean on the market and say it's a net positive. we'll see if it lasts into tomorrow morning. >> yesterday this hour final hour where things took a turn and collapsed the high under an up 700 thank you. let's turn to apple off the lows of the session. the stock hit earlier on a report calling into question deman for iphones around the

holidays jon, what do we know about this? >> no is a strong word i don't know that apple is outperforming in days prior to this and this report overall never made complete sense to me. we have heard from apple in the recent past demand is strong it's the supply that has been the problem with all of the supply chain woes that we have been talking about so much overall and heard from the likes of qualcomm that overall demand for premium smartphones has been strong and qualcomm is able to get supply a reason to see the stock do pretty well so the two things combine suggest the overall market for apple's type of phone is strong and carrier subsidies around 5g driving demand overall so perhaps there was some pickup of changes in orders and that was interpreted in a certain way but it seems that some of that impact has been shrugged off

i think for investors important to know there's multiple signals to consider when they get a rumor story like this. not necessarily just one. >> where are we in the apple 5g super cycles the bulls like to say once in a generation opportunity to upgrade phones >> i think in a way it might be early in that the 5g networks in the u.s. are not performing that great and not like people buy the phones specifically for 5g necessarily but the carriers are eegier to subsidize them so people get on all you can eat family plans and help to give the capital base necessary for the rollout of 5g and the next iphone and will continue to have 5g might have 5g more as a selling point and we'll see based on how apple does it whether that's a selling point for them but i don't think this is necessarily a one and done.

>> weirdly the fact that the 5g aspect hasn't really arrived as a critical factor can show that people want to upgrade regardless and has become a subscription type product even if there weren't as many upgrades as people like to see. >> that's right. people are fond of saying apple doesn't innovate anymore in fact people are upgrading because of things like the camera features that apple put in here. some design tweaks and change of colors in some cases so and then the chips that they put in them to make them faster and extend battery life and features that people are willing to upgrade for and got pockets in the money and doesn't hurt and need productivity tools but the 5g story will probably continue to play out with more 5g at higher speeds across

developed markets like the u.s. >> thank you apple down about .6% after the break, grocery growth shares of kroger are soaring today. we'll speak with the ceo about the factors that drove the beat next the stock up almost 12%. best day of the year for the dow up 678 right now you are watching "closing bell" on cnbc. ♪ ♪ amazing...

jerry, you've got to see this. seen it. trust me, after 15 walks ...it gets a little old. [thud] [clunk] [ding] ugh...

welcome back a strong rally on wall street as we head towards the close. look at the dow heat map boeing at the top as we have been discussing. walmart at the bottom but five stocks there in the red. 25 in the green. the dow was up over 2% but a healthy rebound up 1.8%. the best of the major averages with the cyclical tilt that it has. cyclical sectors outperforming today. >> at the top of the s&p is kroger shares soaring on the back of earnings that beat on the top and bottom lines the chain also raising guidance for the fiscal year. joining us now is kroger ceo rodney mcmullen. welcome back good to have you. >> thank you thank you for the invitation. >> so really strong results clearly the market is

responding double comps than expected raising guidance growth over two years. what happened? wasn't this supposed to be the quarter that everybody flush with cash got out of the homes >> i love the question and so proud of the teams across the organization and doing an incredible job of connecting with customers to make their life easier and when you look at the seamless experience to shop it is really all the things working together our focus has been on fresh product. our fresh departments were stronger than the overall identicals. >> people are still eating at home but still eating out at restaurants? both are doing really well right now. strong pricing helps but can they both coexist? is that sustainable? >> i certainly think they can coexist and finding with the

customers is an awful lot learned how to cook and enjoy it and like to eat healthy and can at home. they like to show off the new skills in the holidays people had larger groups of people together so it is the things together and for us obviously that's a tail wind for us to allow the things we're good at to shine . >> i'm interested in the british fulfillment cent every whether we're at a grocery deliveries to improve margins with the right technology and you've got the right scale or whether that particular outcome is still quite a far way off. >> the question in terms of opened a shed up in groveland, florida, and ohio and soon in atlanta, georgia

we have told the investors it takes three years to break even. it is year four for the margins equal to a store margin but looking at the sheds they track above what the expectations are and the thing i'm especially proud of the teams is if you look at the note promoter scores with the customers they say we're doing a great job and the repurchase rate is higher than what is expected so it's something that's one more way of solving that seamless and making things easy for the customer. >> how would you characterize food inflation any signs it's peaking. >> if you look in the third quarter inflation continued to accelerate in the quarter. if you look at the last couple of weeks and the next few weeks it looks like it's stabilizing where it is. it is early to say that. we use the data to understand

what areas to pass some of those costs through and other areas where to retain it and the teams have done a great job to manage costs so it gives us the capacity to not pass all those cost increases through. >> how much does small increases in travel restrictions hit inflation and supply chain issues clearly only been changes around the edges relating to the omicron variant but has that worried you? >> everything worries me because if you worry about something you prepare and then better off. but if you look so far we have been able to manage it and the learnings at the beginning of the pandemic in materials of agility, planning forward that's allowed us to manage the supply chain issues and inflation, as well. >> what did you tell president biden on that front this week?

you were part of the supply chain meeting of retail execs. >> a thing we thought was important is that there's plenty of food in the supply chain system and we have asked the customers when i have a chance don't hoard because as long as people don't hoard there's plenty of food we continue to work together to manage through it. for kroger we significantly invested incremental resources in the supply chain from the people and physical resource stand point to make sure that through thanksgiving the customers get what they want and set us up to support the customer in christmas and the new year's, as well. >> are there shortages of the products on shelves at the moment >> there's constantly items that would be in short supply if you look at like cat food, dog food, some of those things you will get a shipment in and the shelf is emptied quickly

it's really pockets across the store. as a general rule customers are able to find as long as they're flexible and willing to substitute something they can find something that will substitute for what they need. >> the other thing is about labor. everybody's dealing with the labor shortages and paying higher wages which you have, as well i thought there was news of a potential strike, the houston plant workers threatening to strike on thanksgiving how concerned are you about labor with strikes in companies like deere and kellogg >> the number of openings at the end of the third quarter is fewer than the second quarter. if you look at so far through the year our average hourly rate is well in excess of $16 an hour and then with benefits on top of that that's best in class over $5 an hour so north of $21 with

total. when you look at the associates we are really proud of the raises to do year to date we are about a 7% or 8% increase in average hourly rate and support the associates in other regards, as well. >> rodney, great to check in with you thank you for joining us on a big day. >> thank you. >> best performing stock of the s&p and consumer staple of the year up 41%. the view is the food companies, manufacturers hit harder by inflation. >> very strong numbers we are higher nicely across the board. s&p up 1.5%. up next, grabbing headlines. the record spac deal that brought southeast asian ride hailing service grab to market and why it's plunging in the first day of trade

and a look on the spac landscape and forecasting for next year. check out some of today's top searched tickers apple top of the pile. 10-year note, boeing, tesla, disney we are back in a couple. i promise - as an independent advisor -

to put the financial well-being of you and your family first. 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 ♪ ♪ well would you look at that?

♪ ♪ jerry, you've got to see this. seen it. trust me, after 15 walks ...it gets a little old. ugh. i really should be retired by now. wish i'd invested when i had the chance... to the moon! [thud] [clunk] ugh... unbelievable. unbelievable. [ding]

welcome back. a news alert on nvidia >> the federal trade commission said that they're suing to block a merger between nvidia as well as arm this is a $40 billion acquisition that came in place september 2020 the statement released right now is quite harsh ftc suing to block the larger chip merger in history to prohibit a chip conglomerate the ftc said that should the two companies merge it would result in technology that undermines its competitors, reduces competition and results in

reducing product quality and innovation,higher prices and less choice. when the news hit the wire the stock slowly dipping and picking up trading at $321.84 again, this vertical deal of nvidia and uk company arm is blocked by the federal trade commission back to you. >> thank you keeping an eye on that one. shares of southeast asian ride hailing firm grab falling. >> grab is not escaping the bearish of the names it has achieved more of the super app status than the american counterparts. it doesn't have the same regulatory risk of beijing's clamp down and facing intense

competition. raising the same kind of questions about cash burn and the gig economy market that investors are so skeptical of. seeing the pops in uber and lyft the shares well low the ipo. grab shares did open this morning at just over 13 bucks and now below $10 down more than 20%. >> thank you so much much appreciated down 22% so far. mike, how does this stack up valuation-wise compared to the comparison price >> it's all in the comp. not quite cash flow break even and talking about getting there pretty soon in the core business doubling revenue in the next two years. very interesting little be the of digital real estate i think also pretty much top notch backing.

not just a slap dash spac deal it's a big real company with genuine -- but it is also a sizable bite of market cap comes out near $40 billion a smarkt seen what's happened to the consumer related and app based companies. doordash, airbnb or ride hailing with a moment that people doubt they stay along for the ride to profitability. >> i thought capital would be interested now that china is so much more risky with news even today that the u.s. might move to delist the chinese stocks. >> the geography, the underlying economies seems to match up to something favorable but all at a price and what price at this level. still to come, the ceo of five below says how they're navigating inflation concerns as the stock is higher on earnings.

more coming after the bell including delta, docusign and marvell. we'll be right back.

stocks are rally back after wednesday's late day sell-off. still down for the week. bob pisani looking at what's driving the gains right now. >> the trading community is sort of chosen to believe that while omicron might be more virulent it might produce milder cases. no scientific evidence yet but anecdotal reports. we are just off the highs for

the day. dow up 700 points. take a look at the travel stocks traders say most names are crushed and now up 8% or 9%. this is why the market chooses to believe the good news side of the story. general value stocks that have gotten crushed recently, disney with a terrible time with a good time the banks generally down industrials like honeywell down. bouncing back and the retail names like ross stores value stocks all bouncing nicely today. nice rotation. out of what? tech stocks and particularly semiconductor just the answer to every problem on covid is buy semiconductor stocks they're flattish today even though the market is up nicely it's a big deal if omicron produced milder cases. we don't have strong evidence of that supports the idea that each successive wave is less deadly

and you have the vaccines probably the major factor in that but wall street looking on the bright side today. >> bob, thank you so much. strong rally today and holding in this final hour of trade let's check the individual market mover just boeing a major part of the dow's rally after chinese authorities clear the 737 max planes to take off again. it is up 7%. uber shares surging with ubs with a buy rating. up 6%. jim cramer spoke about both in the nsting club newsletter today. to sign up head online or point the phone at the qr code on the screen and take you right there. also point out kudos to jim saying yesterday the time to buy that dip. >> saw that.

>> as soon as he said overnight after the close yesterday. >> in full force today. >> right so far. >> good call. oil prices which are also rebounding today as opec and the allies say they'll stand by the production hike in january and a part of the market underperforming is crypto. bitcoin hanging right there around the flat line up about a third of 1%. time for a news update with rahel solomon. >> we begin in detroit where nearly two dozen schools are closed due to threats of violence on social media after the tragic school shooting this week that killed four at oxford high school. flags at the school are at half staff. next week migrants need to wait outside the u.s. for the kor hear jgs the biden administration will restart the remain in mexico policy at a location on monday and then eventually several other points.

biden ended the program this year but has now agreed to comply with the court order to reinstate the policy after state officials sued the administration check out the whales. the captain capturing it all and said that whales are rarely seen in this bay and they stayed near the boat for about 30 minutes. pretty cool. back to you. >> pretty cool indeed. thank you. we have got 26 minutes left of the session higher across did board led by cyclicals and why the dow and the russell are outperforming the s&p and the nasdaq and all comfortably higher the ceo of retailer five below talking inflation and what he is seeing from customers at the stores and a check on bonds. yields gaining ground today and fairly calm from where they have

been 1.45 on the 10-year. tv: mount everest, the tallest mountain on the face of the earth. keep dreaming. [coins clinking in jar] ♪ you can get it if you really want it, by jimmy cliff ♪ ♪ [suitcase closing] [gusts of wind] [gusts of wind] [ding] ♪ limu emu... & doug ♪

♪ superpowers from a spider bite? i could use some help showing the world how liberty mutual customizes their car insurance so they only pay for what they need. (gasps) ♪ did it work? only pay for what you need ♪ liberty. liberty. liberty. liberty. ♪ spider-man no way home in theaters december 17th your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

welcome back comeback day for the market. take a look at the s&p 500 sectors. everybody is higher as we rally toward the close best performing groups are the ones beaten down over the last couple trading days. financials and industrials up 3% energy up 2.8. health care faring the least best along with staples. those of course on top of the

market yesterday shares of discount retailer five below higher today. >> the company beat on the top and bottom lines and better than expected full-year guidance. let's bring in ceo joel anderson in a "closing bell" exclusive interview. great to see you thanks for joining us today on earnings day before we get into the numbers just keen for an update on what you see on the much talked about supply chain issues and whether in fact in the last couple of weeks things are easing of their own accord. >> it is great to be with you again. always enjoy getting on with both of you. relating to supply chain, as far as five below goes we did a great job to and navigate it. long-term contracts. brought in goods earlier than ever for fourth quarter. most product already arrived or

on the water and we are prepared for a great holiday season to what extent are the growth and the numbers benefitting from people purely wanting to go down the cost spectrum versus an overall strong consumer and strong consumer demand >> yeah. certainly we believe that the consumer is strong but also, we're in the value space and always have been we did back in '08 when the recession happened and should the consumer continue to feel pressure they'll turn to places like five below as we deliver great value for the exist her and saw that in the third quarter performance as we attracted a lot of new customers for the great value and it is a great place for families to come and stretch their dollar for holiday gifts.

>> you also and analysts pointed out have avoided the pressure on gross margins we saw across retail this season how are you managing through that >> yeah. it is a great question i'm fortunate to have a great team we are growing so fast that our scale benefits are starting to far outweigh some of the other problems that some other retailers experienced. part is strategic and signing multiyear contracts and some of it is bringing it in early using the ability to continue to take costs out of our entire business to hold the prices down that's what we have been focused on all year and served us well delivering more value than in the past. >> in terms of the store openings i think 153 net store

openings of course structurally not what the rivals in retail are doing at the moment. apart from the other discount retailers is that opportunity or competition? >> you cut out for a moment. we opened 171 new stores this year and that in and of itself provides leverage year over year to continue to hold costs down and the last place we go is raising prices and about delivering great experience and starts with great product. a favorite item is the squish mall a hit for holiday. gnomes are really hot. i have my friends here and doing a lot with gnomes. so it is great product great experience we can open more stores.

>> good value. >> good value. >> that's -- god children don't know how much that costs. >> wilfred is getting ideas. a question on the landscape. who do you consider your competition? i notice dollar general opened up a sort of similar store going after the statement products around the same price point but is that the competition or target or wall mmart or what >> we have a differentiated retailer and led the success that there is nobody else like us when toys r us went out 2018 it left a void in the marketplace who is the national kids retailer and allowed us to step in and play that role. we are entering the 40th in new mexico and will expand from there but really coming to really only concentrating on

teens and tweens we are the only retailer focusing there. >> you have did growth to show it thank you for joining us we appreciate the time. >> thank you. >> stock is up more than 4%. an ofter the break, what the snowflake ceo is saying. we'll take you inside the market zone and do not forget to watch or listen live on the go on the cnbc app dow is up more than 2% s&p up 1.75% higher here into the close up more than 700 points 's increased spin rate, any pass with a launch angle of at least 43 degrees puts sanchez in the endzone. you a data analyst or something? an investor in invesco qqq. a fund that gives you access to nasdaq-100 innovations like ai statistical analysis software.

how am i gonna do? become an agent of innovation with invesco qqq. ♪♪

power e*trade gives you an award-winning mobile app with powerful, easy-to-use tools, and interactive charts to give you an edge, 24/7 support when you need it the most. plus, zero-dollar commissions for online u.s. listed stocks. [ding] get e*trade and start trading today. never settle with power e*trade. it has powerful, easy-to-use tools to help you find opportunities, 24/7 support when you need answers, plus some of the lowest options in futures contract prices around. get e*trade [ding] and start trading today.

welcome back we have a great lineup coming the way in the second hour of "closing bell. head of jnp securities why he's quote to buy the broken winners. apple analyst weighs in on the reports of demand drama around the holidays for apple and heading to miami as crypto fans descend on the south we have 12 minutes to go in the trading day. we are in the "closing bell" market zone. cnbc senior market commentator mike santoli here to weigh in on the trading day and hightower chief investment strategist stephanie link back. welcome. stocks are rallying today after that two-day sell-off. dow and s&p 500 on track to recover all of yesterday's losses the question is, is it just

bargain hunting after an oversold few days or are people getting calmer about the risks like the omicron variant and fed tightening >> yes but all rebound rallies start that way by picking up the stuff that's blasted out the most. looking at the equal weighted market it is up 2.5% the average stock coming off the lows whether it's sustainable unc unclear. while monday was a sizable index rally, narrow, yesterday thwarted by the selling wave and this afternoon you sense hesitancy worrying to get ambushed by the selling storm again today. you have the end of day market on close orders that are modest to sell. remains to be seen yesterday's high 4650 and not

even there. >> steph, have you done topping up in the last week of favorites pulling back >> i have, wilf. some reopen names like american express because they beat, raised, increased the customer base and spending overall up 11% and leisure spending will stay strong resilient. we talked about the pent-up demand business spend next year i think is the story and spending a ton of money this year on investments so next year with better demand on both sides of the coin you can see the operating leverage i'm looking to add to -- i did add to united health care. revenues are better than expected and covid costs not as

cumbersome to them this is a horse because it is a compounder they're gaining market share and then added to apple last friday. barely hit but buying $90 billion of stock back. i like that i don't necessarily know if we're out of the woods i do think we are hostage to the day-to-day data points on the omicron and that's okay. maybe hopefully it is more mild and we have the meds to take care of it and 70% of the u.s. population is vaccinated that's why i was nibbling. the fed taper is the timing that surprised me in terms of the escalating the taper talk. >> apple sitting out the broader market rally there's a report that the company lower demand web bush securities raising the

price target to $200 the firm saying the iphone 13 checks are stronger than expected and believes apple selling 140 million iphones in the holiday season mike, it had outperformed to the upside earlier in the week maybe that juiced that reaction this morning settling down less than a percent. >> when you get the supply chain stories on apple it is difficult to trade off not because i think investors also say demand that's not fulfilled this quarter is just going to catch up next year okay with the general upgrade cycle and the stock does trade just like this impenetratible. it did outperform as the market was volatile and kept pace with

tech not as if it had a kind of mega appreciation phases but certainly held in better today also seeing the mega cap nasdaq names slip because it is mostly the stuff beaten up the most up the most today >> shares of snowflake soar today following strong results last night why data software company beating on revenue ceo frank sluteman on cnbc earlier. >> one really important perspective is enabling demand we believe is pent up and really suffocated for a long period of time and not manifested and if you couple that with the big every macrobackground and the move to digital transformation data becoming so core to

day-to-day operations and now companies operate then it is a perfect storm. potent cocktail for growth >> this is a perfect example of a stock with an opportunity. market darling ran up to the highs and hit hard off the highs. now up 15.4% on the better news. any other names like this on the radar to buy >> like the 40 times revenue companies it is hard to justify the valuation when the momentum is great going higher but when they correct there's no support. this was an exceptional quarter. product revenue growth accelerated and net revenue retention 172% in the quarter. versus 169 last quarter. they top the expectations and the margins were positive versus

negat negative it should be up much, much more. i wouldn't be surprised to see it take off but i don't feel comfortable. i have a hard enough time with fordnet at 14 times sales. >> travel stocks, seema mody with the details on the movers there. seema? >> yeah. some optimistic commentary from ceo james golden who said restrictions lifted and led to the pent-up demand in travel rbc capital analysts surveying vacation rental managers and said a shortage of homes led to a longer booking window. that's a bullish sign and seeing

airbnb and expedia up 3 to 4%. cruise lines, carnival with gains as much as 9%. marriott up nearly 6%. sara and wilf? >> thank you mike, if we continue not to get seriously bad news confirmed as it were relating to the new variant there's probably room to bounce further. >> right especially airlines. that's been abandoned before this phase even with the little bit of a worry of international travel it is fascinating and i have heard that comment before. we get to price in a reopening but you need giveback of activity so it's a fair conclusion to say we are not in the mode again of likely

imposing draconian restrictions on travel, business, hopefully you don't get the suppression and therefore not the big reopening. >> i don't know. i don't know how serious that is. >> not making it easy to travel. still powering through. >> yeah. as someone planning for an upcoming trip. i think the question is, do those things therefore get relaxed within a week or a month if the virus variant - >> yeah. how quickly will we reorient >> should you be making changes with the travel names on the light of the variant and don't know around it steph? >> these are all down 14, 15, 16%. from the highs that's a reason why i bought the american express thinking that 1

16% in three day's time. talking about bookings for 2022 in the summer higher than for 2021 so that's one to take advantage of the hardest one to buy is wynn resorts. down 42% from the highs with the double whammy. like did closure and then macau but stabilizing and las vegas accelerating and i don't think it is getting credit for that. it should be bought but it is more volatile. i like it for the long term. >> best performing sub sectors, food, airline, casinos and hotel. two minutes to go. what do you see heading into the close? >> strong today. been strong most of the day unlike like i said on the monday rally. better than 4 to 1 not far from 5 to 1. that is a plus the average stock outperforming the index.

we were very washed out on some measures but new lows on the nasdaq still piling up more than 600 new 52-weeks on the nasdaq smaller cap side of -- has backed off a bit probably just enough to give the bulls comfort down almost 3 points today under 29 the high under 32. some people looking for a close under 29 to say maybe finally that means things are more stable but there's more distance to go to prove that. >> we'll end strong here the dow up about 591 losing a few points heading into the lose we did bra eeak the two-day losg streak s&p 500 breaks the streak today. it is gaining.

best performing sector is financials, industrials and real estate nasdaq up .8%. also coming back today definitely hard hit areas. semiconductors, paypal all higher that's the close and looks better than yesterday. ♪ it is. welcome to "closing bell." i'm wilfred frost with sara eisen. and mike santoli, senior market commentator. should you buy or sell the dips? we will hear both sides of the debate coming up on the show plus analysis of earnings. that's moments away. stephanie link still with us i'll come to you in terms of as you sit here what you think

about the rest of this year. is the rest of the year got a chance of a rally into year end or are you thinking more that next year won'tprovide the gains as this year >> i think if we can get good data in a week and a half on omicron which is -- going to be a big week not only data on it and cpi, ppi. if people get comfortable that we aren't going to close and getting vaccinated, getting the boosters, i think there's pent-up demand on the consumer side we talked about how the excess savings is enormous. people want to spend on experiences. so i see that in american express with spending on goods and services up double digits last quarter getting through onmicron i think

we can rally if the fed tapers it is different than tightening so you want to use days like last friday, some of the days this week like yesterday, you want to nibble at these things and want to definitely have more reopening trade because they got hit the hardest. the three names i mentioned are down 14, 15, 16% so you get good looks at good valuations. >> traditional day at home winners like roku and peloton higher tods with a rough year. yesterday i spoke with cathie wood she discussed why she is bull initial on the beaten names that were early pandemic winners. >> on days that the coronavirus or a variant is unsettling the market, the stay-at-home stocks will do well and then when the fears die down the stay-at-home stocks let

down that is an algorithmic way to understand the world i don't think people understand how great the opportunities are until they work and we think they work big time >> a lot of talk from her yesterday about the algos. mark leeman joins us part of citizens financial group and covered that deal. good to have you sounds like you agree with cathie wood and investors miss the big picture on the stay-at-home names which ones would you suggest >> i do agree. thank you for that shout out on the citizens deal. that's brand new there are some names of the high multiple fast growing winners from the stay-at-home that have been equally afflicted this year i'll put peloton as one of those. down 70 plus percent from the peak and connected fitness and that product being the best in class is one that's far more

durability than just being a stay-at-home product and one to putt right up there. there's a company called wicks and we follow which is about capital formation and company formation which creates websites for entrepreneurs and payments programs another stock down substantially but capital formation and new companies created benefit wix and had a tough calendar 2021 and what we are looking for, durable companies that have been beaten down with an entire market and advance to decline chart is stunning to show a 10-1 decline on a day like today tells you that underneath the recovery there's a bear market and paying attention because in 2022 there will be winners from the dust. >> what gives you confidence that now is the time to buy the particular stocks? are they purely at the mercy of the broader themes in the market

which is that that group pulled back and now going to bounce or stock specific valuation multiples and metrics hit that make them attractive to buy now? >> listen. i don't have a chris call ball no one does. you have a valuation disparity and a stock price disparity from the recent highs that i think is tremendous picking that right point to buy that broken or fallen angel is very, very difficult i think we have seen in the past the hugest stocks in the marketplace down 70% we can name the faang stocks facebook down. netflix is barely survived in some earliestdays and not saying peloton is next faang stock but these are great companies. their customers love the products yet to see a number two. wix is another example of that there's a third company called

doma which is digitizing the title process. that stock down 40% from the day it went de-spacced they digitize a process that's been the same when my parents bought their house we look for durable winners. i pick three names i really like. >> steph, take the other side. i don't think you're a fan of zoom or peloton or the higher flying names that have gotten crushed. >> i think peloton is very interesting down 70% i don't think the company is going away but more competition and the strategy is changing on the margin in terms of pricing i actually -- i'll give you a name that's expensive. chewy. we know that the total addressable market is hurch. 92 billion the stock down about 26%

they get to more of a recurring revenue stream and if you're a pet owner like i am, the boxes are in my doorstep every day so that's one that i would look at quite frankly that's a peter lynch way to invest but there's room for them i just think you have to let the dust settle because the valuation process is difficult to figure when the bottom is in. >> mike, there was also still a lot -- looking at the ev names that didn't bounce today, shopify in the red, tesla too, on one level you can say we tus tushed the corner and say you have to prove more. >> especially with the stocks that you mentioned with tremendous market cap still. right? not so much where they're washed out and insubstantial but a

struggle on that front when it comes to zoom, peloton tell me what starting point we go from. you know was it all algos with them quadruple in six months in 2020? i don't think that's probably likely it's a silly way to look at the world. it is cathy woods' idea. >> there's the key to it with news like a variant come out and then gut reaction to just buy -- >> just correlations people play the historical correlations. >> with strong business in the pandemic no doubt about it and a valuation that ran up and the whole thing now grouped together and on the - >> mechanical in the moment and then has to settle out over time. >> mark, final word? >> we will have days like this and wild downs

investors find the most durable companies to be around i heard the peter lynch moniker. that's the right one you will be happy to join the best in class of time. >> thank you good to see you. steph, we want do get your -- zone in. a best idea right now. what are you dogoing for? >> hewlett-packard enterprises old school trying to be new school like ibm and i.t. spend recovery going back to work. we heard from dell and hpq and cisco that i.t. spend is recovering probably in mid innings if you will it is also a transition story. into cloud, software, storage. as a service is 34% of total revenue by 2024. that means higher growth and higher margins they have a strong installed base operating margins can expand focusing on cost cutting and pricing and they have a good

quarter this week. or orders up 28% year over year we have visibility and free cash flow 1.8 billion to 2 billion for fiscal '22 buying back stock and continue to increase that dividend and the stock trades at seven times earnings i like this one a lot. >> unexpected one. thank you for joining us >> thank you. docusign earnings just out deirdre? >> shares sinking down 20% afterhours and erase all year to date gain just the company did beat on the top and bottom lines but did guidance is hitting share prices at the moment the street looking for revenue of about $174 million and the company between 55.7 and 56.3

million. this was a beat. revenue coming in at 545.5 million. better than the street expected and earnings per share 58 cents versus 46 expected we'll continue to go through this but at first glance looks like the guidance for the fourth quarter hitting shares down 20% in the after hours back to you. >> big hit thank you. this kind of fits into the pandemic winners theme. >> yes >> and the outlooks aren't cutting it. >> especially trading at 24 times this year's revenue. right? that's why there's such a complete sensitivity to a moderation in growth revenue for docusign is supposed to be $2 billion that's good growth but it's a $45 million market value closing today. stocks got credit. with some merit docusign gets credit for a business model on a

long term basis is probably going to thrive. it is not just pandemic stuff. you want electronic documents forever, not just locked at home but the pacing matters a ton sustainability, too. ulta earnings are out. >> makeup retail every did have a record third quarter earnings per share at $3.93, higher than anticipated at $2.46. $2 billion revenue and revised to 8.5 to 8.$8.6 billion and grs profit of 40% and added loyalty member it is a total of 36 million. for the number of new stores full-year fiscal 2021 kept that unchanged and adding 44 stores and a top and bottom line beat for the company. that's why you see the share

price up above 5%. ulta top and bottom line beat and revision for the full-year revenue guidance higher. >> thank you up 5.3%. we are just getting started on the second hour of "closing bell." grab going public through the largest spac merger ever up next the outlook for spacs and the ipo market when we're joined by jeff sol long. apple hit hard with concern just a top analyst whether the risk is worth the reward. we are back in two mut oinesn "closing bell.

thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab.

every day in business brings something new. so get the flexibility of the new mobile service designed for your small business. introducing comcast business mobile. you get the most reliable network with nationwide 5g included. and you can get unlimited data for just $30 per line per month when you get four lines or mix and match data options. available now for comcast business internet customers with no line-activation fees or term contract required. see if you can save by switching today. comcast business. powering possibilities. shares of grab plunging 20% today on the nasdaq debut. softbank backed ride hailing company was the largest ever company to close a spac idea

so far we have seen 566 transactions in 2021 that's up from 2508 in 2020 let's bring in jeff solomon. good to have you welcome. >> good to be here how are you? >> doing all right wondering what your sense of the market is, especially with regard to spacs after the huge deal today that sort of flopped and we have seen increasing regulatory pressure. what is the market for spacs at this point >> there's a lot of spacs are high profile this is the largest ever and all eyes on it there's many deals going on. right? record issuance with the first quarter and then slowdown looking at the accounting and a bunch of deals are done. over 100 in the past 6 months on the back end and i actually look

at really how the health of the pipe market and whether or not financings are done in conjunction with them. they keep a reasonable amount of gate on the whole spac issue market so i think from my standpoint i think there will be ebbs and flows and things are pretty healthy. >> what about broader? tie it to ipos and m&a does it feel like the window is closing if the federal reserve inches to an interest rate increase >> yeah. they did what they had to do in the face of an unprecedented pandemic think about the global economy shutdown they did what they had to do as things start to turn back on again there's fits and starts and the fed will have to raise rates again as are most central banks. they're artificially low to keep the pump primed, if you will

so i think what you are seeing in the market today is how fast will that happen i still fundamentally believe back to 1% or 2% short term rates is still a great environment for stocks and still great environment for capital formation thinking about the long term return on equities. >> looking at the m&a activity, two questions. do you think that's going to continue and maybe even grow from here? do you get the feeling it's a last hoorah late cycle chunk of tiftd or not >> it is hard to say and the reason i say it's hard to say because we have never come off the back of an unprecedented global shutdown. hard to know about what we might consider to be normal cycles our m&a backlog is up double digits after over 2020 and we had a record year in m&a

so i don't think that we are going to see a meaningful slowdown in advisory it doesn't feel that way to me things are getting done. sponsors monetize. they raise gobs of money and new funds are deployed money is still flowing to health care and the health care market had the worst year ever. it feels that we will be in the low rate environment for a while and the long term trend is to go somewhere for growth and been the theme at cowan and we think that m&a in particular in the sectors we cover that are growthier with a consolidation going on seem to be pretty strong and i wouldn't bette against an increase next year. >> talk more about bio tech and health care because i think you see opportunities here. >> yeah. it is the worst performing

sector i think mike said there's been terrible bear markets. this is the worst in bio tech we have seen since initial looking at that index relative to others and continued tax law selling towards the ends of the year if you are a long term investor this is probably the best time to add to the names at ridiculously cheap prices relative to where they traded in the past decade and not going to call a market bottom there's technicals at play in that sector to make it compelling this is a mean reverting sector and looking at the performance in 2020 not surprising we didn't have the performance in 2021 what does 2022 bring i think it's something different particularly off the back of positive catalyst. >> the final question from me, a report of bloomberg that at goldman sachs some senior

executives trying to alter the pay structure to take cuts from big successful spac deals and raises an interesting question and just wondered your view as to whether expectatives like yourself to get bonuses based on set deals whether it's spac related or not or just year end here's the bonus and based on overall company performance. >> yeah. i hadn't seen that story but you should ask dave solomon. i'm interested to hear what david has to say even though we are not related i think, listen, wall street is creative what we do is merit based and really a lot has to do with citizenship and culture and leadership and a bunch of other things in the discretionary pools and listen

we are rewarding people for performance and defined in a number of ways if they get creative that's their progerogative. we look at teams and going through that now and so i can't speak specifically to a new structure that might be showing up at goldman sachs. i really don't know about it. >> jeff wants to be paid in crypto this year right? only bitcoin for you. >> under get in line with other people paid in crypto this year. >> jeff, thank you great to see you. >> good to see you, too. marvell technology earnings results are out. >> another record quarter for the company. soars up over 11% at the moment. came in at 43 cents, higher than the street anticipating.

on revenue at $1.21 billion. the company also had q4 earnings per share higher keep in mind that the ceo said in the past that data center segments is one of the most promising areas of growth and accounts for 40% of revenue and just last week on cnbc the ceo said and talked about the chip shortage and anticipates well into the end of 2022 if current demand holds marvell technology big beat on the top and bottom line and guidance stronger than anticipated and the shares react above 11% higher back to you. >> thank you. the market is rocked by wild swings up next whether vinvestors shoud be buying on dips or not

and whether reports of apple are a caution. look at ach applovin corp. slipping about 6% giving up the gains it enjoyed in today's regular session.

a big after hours mover on earnings to highlight. ali's bargain outlet was a miss. the ceo saying performance was impacted by quote greater than expected supply chain related head winds the stock is beat up to the tune of 12.5% he does say that they are transitory uses the "t" word that was retired this week by powell and yellen clearly the supply chain issue holding back sales. >> one of the next two guests doesn't think transitory should be retired >> let's get there. >> stocks bouncing back today. all 11 s&p sectors in the green.

how should investors be positioned jim paulson joins us and peter cachini for a debate on this topic. jim, you are the one i was alluding to i believe. you will confirm that you think inflation could prove transitory more broadly with the market having a bit of volatility recently and pullback you think that's a healthy thing to see. >> i think it is i think that the market participants need to be spooked every now and then if they're not they get out over the skis too far this one we are having now kind of dovetails on september and october and been a pretty good long period of disappointment if you will for investors i think it probably isn't going to amount to a correction.

not sure, of course. but i think covid is well veted. who knows what omicron will bring? i doubt it will shut down the economy, at least not a big way like before. i do think this is more abuyin opportunity, particularly in broader market part of the broader market which i stay away from the s&p 500 large cap growth names to benefit from an ongoing economic recovery that looks good at the moment. >> peter, in the short term you kind of agree to have a bit of a bounce >> yeah. we put out a note this morning observing that most of the major indices oversold in various ways on a technical basis, for example. the russell 2000 small caps

suffered more than a 10% decline and volatility on the russell hit 40 that's a level that you really wouldn't exceed unless you thought up going to have another thought of march 2000-like event which is not our view. for that reason we made the assessment that it was an interesting time to think about owning equities again. in particular the beaten up smaller cap names but that said, by the way, also on year end flows and company buybacks and other technical factors. longer term we are far more cautious for a number of reasons. overvaluation is an issue for this market for sometime but we have never seen negative real high yield or yields before pardon me. we have a situation where equity

positioning is crowded in things like margin leverage there's a misperception that household savings is $2 trillion it is $1.3 trillion which is below pre-pandemic levels. we don't see renewed shutdowns but impacts supply chains and china made it cleefr to pursue a covid zero policy and that will impact supply chains which i think will continue to remain disrupted for the better part of this year. >> that is a big bearish argument right now which is buy the dip has always worked lately and in the last few years because stimulus would come flowing from monetary stimulus or fiscal stimulus and there's a question now of whether the fed and fiscal authorities have investors' back in the same way they did. >> right now gdp now number just

came out today 9.7% for real gdp based on the great reports that we have including the job numbers that we got this week already if we do 10% real, probably 5% inflation and 15% nominal growth in the quarter we will have another huge earnings quarter again with that top line results coming out of the economy again. even if covid slows us down a little, okay, slow from 10% to 6 or something that's three times faster than we grew in the last recovery we have room to slow a little bit. as regards to supply chain problems, if they're serious, there's some reports they're improving. look at the commodity price. the gold index is flat since may. industrial commodity prices flat since may. crude oil flat since march

the baltic bulk rate freight collapsed. commodity prices are the leading edge of explanation pressure in this country and they say it peaks out. if i look at economic policies i agree there's been a fair amount of tightening that's gone on monetary growth gone from 27% in march to 13. fed's balance sheet growing 80% year on year in march. now under 20 there's a big monetary slowdown. there's been a fiscal slowdown the dollar is strong which keeps inflation at bay. >> yep. >> even the yield curve at 1.5% is half of every recovery since 1970 if there's a leading indicator i

think the supply problems are better and even if we slow the economy somewhat we are slowing from such strong growth it will be decent. >> you put a lot out there thank you for joining us we are out of time good to have you both on. >> thank you. reports of weak iphone demand dragging down apple today. up next a top strategist or analyst weighing in on whether the pullback is a yibung opportunity for investor just we'll be right back. ♪ ♪ ♪ ♪

welcome back time for a cnbc news update with shepard smith. hi. >> thank you from the news on cnbc, president biden laying out a five-point plan this afternoon to deal with covid this winter. the administration strategy focusing on expanding the campaign to promote vaccines and boosters, hundreds of family vaccination centers, new testing requirements and at home covid tests paid for by insurance

companies. an arrest in the murder of jack line avant. she is the mother-in-law of the netflix co-ceo beverley hill polices announced a short time ago that they arrested a suspect at the scene of another attempted burglary and shot himself in the foot white leaving and that's when cops found him no motive given. almost two months at a highest profile strike could come to an end the union representing 1400 kellogg's workers announced a tentative deal with the cereal maker. the vote set for sunday. tonight robots that reproduce. the scientist that invented them joins us live. sara, back to you. >> wow that sounds odd. >> are you sure the scientist? maybe it's one of the robots

that's usurped the scientist. >> no way to know. >> we have to watch. >> they're taking over. >> sounds like a good one. apple shares sitting out today's rally an after report of weak demand for the iphone 13. joining us is senior analyst at bernstein. this report cited unnamed sources saying that the supply chain constraints are frustrating consumers who are skipping on buying the iphone 13 do you know anything about this demand issue >> hi, sara. i think it's difficult to really know what causeality is here in terms of our consumers not upgrading at the rates that they did last year or that apple expected or, have long lead times contributed to pushing out the desire the iphone mini and iphone are

widely available the pros are back order. it was as much as six weeks. you can get pros and pros max for iphones globally in two weeks and still in time for christmas and for holidays so i don't think it's necessarily the fact that there have been long lead times on did devices. i think there is a question from this report about whether iphone demand is as robust as apple had hoped going into the season. >> and what investors were hoping for how would you square investor expectations right now for holiday sales for appler versu what you expect? >> this is a really big question because last year was a great year for iphone and we estimate

sold 230 million iphones and below 200 million in each two prior years. there's a rich mix of pros and been a big investor debate about whether, okay, you had two prett pretty soft years and good year in '21 could you have another good year in '22 expectation is iphones will be flattish this year and so certainly if we had softness beyond that that would be a disappointment for investors and the next 14 days are important typically it is this time the last week in november until mid december when you start to hear order changes in the supply chain and so if ultimately this is the case and demand is slower we should be hearing it from more data points over the next couple of weeks. >> i'm interested what you have

been writing about of apple buyback power and got ammunition to continue those buybacks my question is -- excuse me -- my question is whether that has been a driving force already for the share price and as a factor that investors react to it could fall away or means things like iphone sales numbers don't mat we are the buybacks to fall back on. >> the buyback, you're right thank you for asking the question is an important part of apple earnings in eight years. reducing share count from the buyback contributed about 50% of apple's earnings growth and so it has been very important now as a stock price has gone up it is more difficult to buy back at the same rate and think for five years or so apple can buy back 3% to 4% of the shares a year that helps each year and if

apple takes on the dead after that and comfortably do and continue to do that for a longer period so that is three points, three to four points of earnings growth which is helpful and meaningful for apple i think ultimately 30 times earnings where apple is trading top line growth is most important thing going forward. this is an elevated multiple for apple relative to the history. i think the expectation is the company has a good product line and potentially more to come with glasses or an automobile and the company can continue to grow the top line health if we have weaker iphone sales that's half of revenues to pressure the top line and disappointing for investors and the multiple on the stock. >> thank you for joining us. >> thank you. up next, mike with a look at whether better values have

started to emerge in the recent market sell-off. here's another check on shares of docusign wrecked after hours. down 25% we'll be right back. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire ok, let's talk about those changes to your financial plan. bill, mary? hey... it's our former broker carl.

carl, say hi to nina, our schwab financial consultant. hm... i know how difficult these calls can be. not with schwab. nina made it easier to set up our financial plan. we can check in on it anytime. it changes when our goals change. planning can't be that easy. actually, it can be, carl. look forward to planning with schwab. schwab! ♪♪ the pursuit is on. the pursuit of outperformance at pgim. with deep expertise to outthink across multiple asset classes,

actively managing investments in the world's public and private markets. outscale, with the resources to serve 1,500 clients in 52 countries. and outlast, with long-term conviction that looks beyond today's volatility. join the pursuit of outperformance at pgim. the investment management business of prudential. welcome back let's get to mike for a look at berkshire hathaway. >> it is underperforming the s&p on a year to date basis but apple a single largest component of the value right now has been

on a good run and trying to decompose what's inside berkshire with apple as well as some peers to the big businesses inside of berkshire. united pacific allstate inside berkshire and why that's dragging lower and apple with a quarter of the total $625 billion value of berkshire hathaway itself. that's pretax and a huge buffer inside of berkshire hathaway look at the overall company. down around 1.3. this goes back to 2011 basically shows that it's somewhat close to a floor level historically when the overall market is not under severe stress arguably value started to develop. $180 billion in other public

equities coca-cola and the like it is an interesting moment. not sure there's a catalyst but worth to remind folks what makes up berkshire hathaway. >> thank you. crypto investors have been flocking to miami this week and not for the beaches but the nft exhibits up next a look at whether the digital art boom is here to in theft, or in this case, water damage. now if i had to guess i'd say somewhere upstairs there's a broken pipe. geico. save even more when you bundle home and car insurance at geico.com.

tv: mount everest, the tallest mountain on the face of the earth. keep dreaming. [coins clinking in jar] ♪ you can get it if you really want it, by jimmy cliff ♪ ♪ [suitcase closing] [gusts of wind] [gusts of wind] [ding]

miami beach kicking off this week after last year's cancellation this year's event is attracting crypto-investors kate rooney is here to explain why. >> reporter: hey, sara, nfts and digital art have gotten mainstream the conference went from virtually no nft presence to at least four exhibits this year. we spoke to some of the gallery owners, who say people are embracing all things digital art. collectors see it as new and different, but there's also a new crypto-crowd.

>> the clientele still typically cements to be a bit younger, under 40, and the traditional collectors are venturing forward. sort of like starting to read more about the nfts in the market >> reporter: guys, cryptoinvestors have taken other miami this week. there's nearly 200 blockchain events, most of those going on in winwood that tends to be more about networking, web-3, blockchain, a lot of startups over there, less so about buying art like here. but there's a lot of big-name venture capitalists here. >> i do love winwood the walls are my favorite. my question is, do big players in the art world, the experts

and collectors, are they embracing nft? or is it a separate movement >> reporter: it's split. you hear some saying it's interesting, we may buy in some say there's actually equal interest and people seeing it as a long-term thing. i was talk to go someone last night. he said he's friends with a high-profile art collector and he said you're ruins art basel ear taking away from it, so there does seem to be a tension between the two. >> kate rooney, thanks so much the countdown to tomorrow as government shutdown is on. what's at stake for washington and wall street, when we return.

welcome back let's have a look at how we finished the day on wall street. higher across the board. you can see up the session highs, with a mini pullback, but all in all, a pretty encouraging

bounce, led by cyclical. that's why the dow and the russell outperformed the s&p and the nasdaq >> november jobs report takes center stage tomorrow. there's another event that could also impact your investments ylan mui mis here with a preview of tomorrow's government deadline. >> reporter: the house is preparing to vote on a bill that would keep the government open ahead of the deadline. it would fund current levels through february 18th. it's expected to eventually pass the senate the problem is that they may not be able to do that before the deadline any one senator can drag this process out into the weekend, sending the government into a temporary shutdown a handful of conservative republicans are threatening to

do just that as a way to both democratic and republican leadership are pressuring them to stand down. there's a lot of people on capitol hill that believe needs party wins, even if it's just for a little while there's no resolution just yet and less than 36 hours left to go back to you. >> so, mike, i'm not sure if that has any impact on the market, assuming they're just going to have a deal, though, you know, the parks could shut down and passport offices, the like it's a disruption if it happens. >> it's down on the list of things to worry about. if the debt cell gets into play, that's probably a bit different. obviously the jobs number tomorrow is not front and center, as it obvious is it could be. i think labor market tightness

is now the presumption the fed has. they're saying it's already operating like it's tight, but how the market reacts, we don't know what the market fears the most i do think that, yes, we're going to look for clues in there. also, i just think in general, it's sort of a win today, sort of progress, but to the last few days, you haven't reached a high of the prior days, so we have to break this short-term down trend. >> one thing we didn't dig deep into was the vix, do we frame that as massive pullback, or we need to see more before you gets encouraged >> it's definitely decent progress for one day i know people who follow these systems that say a spike is a three-point decline from a recent high. that starts to say you could start doing some buying. but, again, like everything that went on today, it's at contingent on whether we get

some follow-through. i think it still looks like an expectations reset, a cleansing of a lot of crowded and wounded positions. we'll see if that creates some real buying. the real strong part of december, you know, seasonal pattern is the second half of the months. >> led by the cyclical sectors, four of which were up more than 2% we're out of time for "closing bell." thanks for watching. "fast money" starts right now. yes, it does live from the market site right here in new york times square. i'm in for melissa tonight. >> guy adami, tim seemo, karen finerman, and donovan. so is it all clear, or simply too soon to break any kind of rally cap? >> plus. the chart masters drilling down on today's crude