when you look around the world the biggest source of emissions is continuing on the work we have done replacing foreign coal if we want to tackle climate change we have got to put our best players in the field. that solution is launching and unleashing american natural gas to meet the energy needs of the world and our climate conditions. >> people can read your letter where you take the data and lay it out clearly toby, thank you for joining us today. >> thanks. >> that does it for "the exchange," everybody time's up. "power lunch" starts right now >> it sure does, kelly we will see you in just a moment here's what's ahead, thank you for joining us ground breaking year 2021 started out very strong for ipos but eventually fizzled. about 2022 be different? we will zero in on why it could be the year the fintech offering motor trend's truck of the year, rivian wins the honors with only a small number of

vehicles on the road can it dominate the ev market like tesla has for trucks. one analyst lays out his bull thesis. peloton plays back mr. big is alive and well in a new ad from the fitness company. we will hear from the producer and peloton as the strzok struggles to bounce off its 52-week low. >> what a story that one is. fresh concerns over the omicron variant pressuring stocks dow down 271 the s&p down 31. the nasdaq down 162, the underperformer the reopening names are some of the biggest laggards today on concerns about the effectiveness of vaccines against omicron. american, carnival down about 5% flip side, moderna and pfizer, higher 5 to 7 fundraise. pfizer announcing the acquisition of arena pharmaceuticals. arena shares, look at this, 80% higher today, and a check on apple as it flirts with that $3 trillion valuation

182 is the level to watch. shares are just under $178 for a market cap of 2.9. the big event is the fed meeting wednesday. i will be reporting from washington out in front of the central bank on constitution avenue and the fed is expected to discuss speeding up the ends of its bond buying program, hastening the end. this week, investors will also watch econdata and earnings. here with her look ahead is stephanie link chief investment strategist and portfolio manager at hightower, as well as a cnbc condistributor hi, stephanie. good the see you beautiful tree over your shoulder >> thank you, good the see you. >> last week the market befuddled me i wouldn't think it would be strongly higher on a week when inflation turned up as hot as it has been since 1982. what should we expect this week, come what may from the fed >> i think, tyler, that the

reason the market was so strong was because people are starting to embrace theed in that we are at peak inflation. right? so the 6.8% cpi number was no worse than expected even though it really is quite high. the ppi tomorrow is also the whisper number is for 10% year over year annualized. >> woo. >> that's a hot hot number i know, that's the whisper number maybe it comes in less and that feeds into the story that we are at the peak or embedded all of this into our models and numbers. i think retail sales are oftenly important, too i think we pulled through a couple of months' worth of retail sales a couple of months ago but we are still ten percentage points above, in terms of retail sales, before the pandemic consumer remains strong but how much did we pull in because we were afraid we weren't going to be able to get goods because of the supply chain and fmoc -- everybody expects a more hawkish fed

we will see what they say in terms of the number on the taper. >> a 10% ppi makes me want to whisper. i think we should all whisper about it, not even talk about it let's go to a couple of stocks you are watching this week because of earnings. we don't think of this as earnings season but there are strag lers out there, lennar. >> housing has been really strong last week, toll brothers on their conference call said stronger for longer in terms of demand because we have underproduced for the last decade i want to hear if lennar has the same kind of tone and backing. of course, orders and closings will be important. but also, pricing power. 40% of their revenues come from the west coast so that's -- those are areas, those states are seeing faster growth and they have pricing power. then, of course, they are spinning off their asset management business but we don't know a lot of details you know me, i like spins i like the parent company and spinco company so i am eager to hear with a they have to say.

>> accenture is also on your list of ones to watch. >> this is just a compounder, tyler. enterprise spend and recovery story. we saw it from broad com, from cisco, from hpe. i think we are going to see it at accenture, consulting is going to be strong because companies are digitalizing their business asks replacing legacy assets this company has been able to deliver double digit earnings and revenues i expect that guidance to be the same for fiscal '22. and operating expansion. they deliver any chance you get to buy this stock on a pullback youa ought to. >> darden restaurants is number three. here in the new york area, here at cnbc we are being asked to put back on masks in public places no matter your vaccine status darden, you think, can thrive even amidst uncertainty and insecurity about covid

>> i can, because i think the casual dining market is so large. it is $195 billion total addressable market at the same time you have 10% capacity getting reduced so darden has size and scale i think that they can gain market share even in challenging times. they said last quarter that sales were back above pandemic levels so i expect that to continue and they are focused on profits over sales growth which i think is a smart thing to do it trades at 19 times. it is not expensive. mcdonald's trades at 28 times. i own that one but this is interesting because you also get a 3% dividend yield. >> stephanie, great. enjoy the tree >> do mine next, please. so much for bitcoin at $100,000 crypto prices are pulling back again topd as hopes of a big run into year end begin to fade. a lot of first-time buyers who bought near the top are

underwater with bitcoin down 30% from its high asks down 6% kate rooney joins us. >> giving up gains today after showing strength this weekend. it bounced back to $50,000 on saturday but today down like you said about 6% it is hovering near the $47,000 level. bitcoin is now off by roughly $20,000 from its peak back in november you have ether, solana, xrp, some of the smaller cryptocurrencies, those are seeing steeper declines today. and some of the big crypto-related stocks sold off in sympathy. riot blockchain, marathon digital. those are two of the biggest mining companies in acrobat. down double digits so far for the month. coinbase as well block, formerly known as square, and micro strategy many of those companies hold bitcoin on their balance sheet and have gotten crushed in

recent weeks as investors move away from the riskier high growth positions the reason bitcoin weakness may also be hitting the newers investors especially hard. according to data, recent selling appears to be coming from short-term bitcoin holders who got in during the past few months meaning they lickly bought around the recent peak. it is now well below the average cost basis of the traders the price where most of them got in. right now it is about $6,000 low that level, which is about $53,000 for the cost basis a lot of people here are under water. longer term holders have been less active. less selling on that side. as far as the bigtime investors, whales, people who own more than $10 million worth of bitcoin, the total wallets for those guys dropped off since early november but those who are holding bitcoin who stayed in the market, the total supplies that increased. the top 1% continues to be

accumulating more coins. that's according to data from genesis and coin metrics >> kate, the interesting thing will be now if people kind of hang on hoping for this big run or santa claus rally into year end or if they realize it is not going to happen does the selling pressure intensify >> i think that's the debate right now. especially for newer investors with less conviction, they are newer to the market. they may try to walk away and say it didn't work for me. but some of the longer term holdsers, if you got in early last year or have been in the last couple years, you have seen these cycles play out before if you remember 2017, december was really the peak. and then the first couple of months of the following year there was something like an 80% decline. it is extremely volatile not looking like an inflation hedge as we get some of the cpi numbers. coming up, target tesla, is

rivian ready to become a dominant player inthe ev industry what one analyst says about the company's road ahead. plus the nasdaq 100 shakeup. what's in? what's out which name should you consider buying or selling? our trading nation team will tell you how they are investing. stay with us huh. is that true? geico's been saving folks money for 85 years?

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the rivian r-1t beat out pickups from gm and ford to win motor trend's truck of the year, calling it the most remarkable pickup truck we have ever driven rivian went public last month at an ipo price of $78 a share. now trading around $115 in a year that has not been really good for ipos. phil la low -- phil lebeau has more on rivian's run. >> rivian is first to market with an electric pickup truck, the r-1t we have had a chance to drive it we have talked with a number of people who have ordered it a few who have taken deliveries. the vehicle is going to get a lot of attention motor trend have named it truck of the year. think back to their ipo. the r-1t got some of the attention but most of the attention was focused on the

fact that this was a company that has a slew of orders from amazon for electric delivery vans yes, that is important the r-1t and the r-1 s, the suv, will be coming out early next year this is all part of the electric pickup truck battle that's brewing. rivian, now the gmc hummer those deliveries are expected to start before the end of the year we know about the f 150 lightning coming early next year and cyber truck later next year. speaking of general motors, with that gmc hummer and those deliveries beginning later this month, that is important because it starts the ultium battery platform it will get a lot of attention once that happens. finally people will say rivian has the truck of the year. it is going to be huge for sales and for orders maybe not for the stock. look at lucid.

remember when lucid air was awarded car of the year from motor trend in mid november? the stock got a big bop that day. what has it done since then? not a whole lot. of course other things came to light since then including a subpoena from the spc. nevertheless, this is a big day, the r-t 1:getting this award from motor trend. >> this is the first time a truck not made by one of the major three automakers has taken this crown elon musk said tesla's cyber truck will have a quad motor option how will this translate to a real edge in the ev market what if the cyber truck or something like that wins this award again next year? we have an analyst from deutsche bank here. how big a deal is this for the stock?

>> it is encouraging recognition. as you know, rivian is on the commercial side the partnership with amazon. they are also launching a consumer brand, it is a brand essentially starting from scratch. having this validation is helpful both from marketing being able to go to the consumer and say, look, this is a true validation, this will help get the word out there it is helpful for investors as well to sort of see, this is a truck. it is real it won the title against some more traditional truck makers and therefore is something people should take a look at. >> do you think they are going to hit $385,000 in sales or volumes by 2025, 1.7 million dollars by 2030? you have the stock at a buy and that 2030 price target >> this was based on four and a half times 2025 revenues of about $30 billion.

i think the evaluation het ricks for a company that is not earning or won't have earnings any time season is more of an art than a science the way we went about it, look, you have tesla at eight or nine times 2025 revenues on the low end, neoat around one and a half or two times it should be in the middle because it doesn't have tesla's technology but it has an credibly strong partnership with amazon who can make it a leader in the last-mile delivery. we chose 4.5 times as an investment model applying five times would be more like a $150 price target. it will be all about execution and all about the quality and how much traction this truck has on the market. >> let me ask you a couple of things one is about performance of the vehicle. is it going to be or is it now every bit the equal to the f 150, to the dodge ram, to the

chevy trucks, to the toyotas and others that's number one. and number two, if it is, you would expect demanding to high are they going to be able to meet it? >> great question. so assuming this has been positioned as a more luxury consumer aspirational vehicle rather than a work truck but when you look at the performance characteristics they actually are just as strong as what's out there on the work truck side we are talking about 11,000 pounds of towing capacity, 735 horse power. this is for the r-1t these are things that if they were the proper size would qualify and will be helpful in a work truck as well yes, i would expect decent demand this is price tds in at a starting price of $70,000. it is certainly not the $40,000 that ford is touting for the

upcoming f 150 electric vehicle. so it is still very much a luxury aspirational vehicle. but plan is to launch new vehicles, no models, two or three a year for the next four or five years and eventually make their way towards a work truck. i would expect solid demand. there is a large backlog the mass market stuff will come when they come with the vehicles at a lower price point. >> thank you very much we appreciate it kelly, it sounds like a truck for the squa farmer. >> they have little features i think the tailpipe doubles as a measuring -- this is how much i know about construction. there are extra plugs. >> if you want to plug in your drill or your saw? >> that you thought about everything i wonder if competition close that gap. >> nobody is going to sit still. >> they are going to go, great idea let's put it on ours. >> all right folks

deadly tornados. you heard about it all weekend long incredible the destruction you see. six across the united states insurers scrambling to assess the extent of the damage in some areas, t dheamage was total. we will have the latest next new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

welcome back i'm rahel solomon. here is your cnbc news update at this hour. president biden and senator joe manchin will speak on the phone this afternoon they are discussing the build back better legislation now in the evenly divided senate. biden needs the democratic senator's support. this morning, manchin was talking about inflation concerns he didn't say what he would or would not vote for but said whatever congress does should be within the limits of what they can afford. the white house and biden

said he wants jerome powell to remain as fed chair. but there are other vacancies on the board that still need to be filled. a lawyer for mark meadows says the former white house chief of staff should not be punished for not cooperating with the january 6th committee in a letter the lawyer argued that use of executive privilege and good faith is not a crime. the committee will vote tonight whether to recommend charges against meadows. deadly tornados ripping through kentucky, towns absolutely flattened insurers are starting to tally the damage in a year of abnormally high catastrophe claims contessa brewer is following the story. >> hi, tyler, first, it's early. the search teams are still combing through wreckage damage estimates may take a week or longer. but state farm, which insures more homes in kept den than any other tells us they have already

received 4,300 claims from the tornadoes across multiple states it expects the claim numbers will rise significantly as power and cell service come back on line and homeowners get access to the virtual claims processing for the industry it might be the catastrophe that breaks yearly records in the u.s the crippling texas winter storm, hurricane ida and its remnants western wildfires and now the tornado outbreak on a november 59:earnings call aig's ceo said we have never seen consistent catastrophe losses at this level as an industry we need to acknowledge that frequency and severity has changed dramatically as a result of climate change and other factors. he pointed out average losses over the last five years have been $114 billion, up 30% from the ten-year average and up 40% from the 15-year average here are some of the publicly traded insurers with exposures to the tornadoes, including allstate, progressive,

travelers, and chubb the industry says supply chain disruption and rising costs in materials and services are adding to the overall claims costs. and, tyler, kelly, the other thing i just learned is january 1st marks the date that reinsurance contracts are supposed to take effect. and largely in this industry they have not been signed. what we are likely to see is the cost of reinsurance rising dramatically >> that's really amazing you point out that the supply chain in the construction area, lumber, other materials, has been blocked up for much of this year that's going to slow down any recovery here, or rebuilding that can take place. and when you see some of these towns, you wonder, are they even going to rebuild >> mayfield, kentucky, which incidentally, i lived in as a child, has just been flattened the infrastructure, the city infrastructure itself, has been

severely cripple when you look at trying to get in -- i mean, if you have hide to hire contractors recently for anything, electricians, plumbers, you know you can be in for a long wait. emergency now trying to get all the people into this town, where everyone needs that it is going to be a long wait. the longer they wait, the more the costs go up for the insurance companies because, of course, in many case you are on the hook as an insurer for housing people while the repairs are made what state farm told me today and what the insurance industry has told me, this delay will not hold up paying on those claims. >> contessa thank you very much. a devastating story. still ahead, a hugely disappointing year for ipos. the renaissance ipo etf is down more than 10% since january. that means it is lagging the s&p 500 by almost 40 points. what happened? what will 2022 bring we will have tt xthane want it all.

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welcome back stocks are down, commodities are lower, ipos are down, all year, and bond yields are down as

well with this happy mix let's get you caught up on all this red today. 90 minutes left in today's trading session. we kick off with bob pisani? we are crouched here, still defensive, still trying to figure out the effect of omicron on the stock market. the decline in cyclical games, industrials like boeing, materials like dow, financials likes american express, a small smattering of consumer names like disney that would be affected by the impact of omicron. we have new highs but they are defensive stocks, pharmaceutical names like pfizer are at new highs. united health, another pharmaceutical consumer names like coca-cola and mcdonald's also hitting new highs. united health care as i mentioned. apple almost exists in a universe by itself, a rare down day. but we have gone from 160 to 180, a significant move, so far

in december. volume has been huge md how much further can you push it? 29 times earnings for 2022 that's very richly valued even by apple's standards finally, i we talked about some of the speculative tech stocks, cathie wood stocks that have been hurt, going back to the reddit crowd and the controversial stocks gamestop and others they have been dropping for weeks. gamestop, 240 to 140 in a month for gamestop amc, bed bath and beyond express all notably down today. now to the bond market yields are lower across the board with the ten-year, right down here, it is below 1.43% one month ago we were up at 1762 this is all coming ahead of the fed's meeting this week where, if anything markets are expecting them to be hawkish but the rate complex shrugging

that off oil in the red as well pippa stevens has more. >> oil prices dipping negative as the market weighs omicron against projections for a jump in production next year. analysts are raising their demand, from for the first quarter of 2022. wti is ending the day at $71.17 for a loss of .7%. present crude is down 1.2% at $74.26 both contracts registered a gain last week snapping six straight weeks of decline u.s. oil is still about 16% below its october high turning to nat gas, prices are down 3.6% today, but over in the uk, they rose 11% to a record level as lower temperatures and

political head winds over supply from russia fuel shortage concerns. >> exactly the dichotomy toby rice from eqt was talking about. pippa, thank. now to the ipo market. hasn't been a great year 391 ipos priced year to date almost 60% are below their ipo price. the post ipo performance this year as well underperformed the st. patrick's day. and nextier we are expecting high-profile names like stripe, chime, insta-great cart and mobile life spinning off from intel. dan -- are you in the office i am, i have an actual office. >> one person we know is there it is good see you what's been going on with ipos this year? would these numbers include spaces or is that an equally underperforming story. >> the data is messed up because of spaces. two machines, spacs themselves

ipo and so there is not a lot of apples to apples there have been a lot of ipos getting out but the performance has been back. spacs have had you go hashave - struggles as well. >> at least into summer you have had what i would call publicly traded gauges for high valuation stocks like the rk that was doing okay. what happened? >> when a company goes public they only have to provide a couple of years of past financial information. we were talking about apple earlier. we have decades of data on them. these companies, most of what they were providing prospective investors are was pandemic data, which is admittedly screwy, particularly if it was going into a consumer market or a

biotech market i think investors didn't have an enormous amount to go on the companies are maturing in front of their eyes and traders are souring on them as we learn more and get more and more quarterly earnings. >> dan, i was struck i misread my note and i thought at first we were comparing back to 2020. no we were comparing back in terms of the peak to 2000 and 1999. >> yeah. >> and 1999, not 2019. a lot of us remember what happened in 20 00, 2001. the market cracked because a lot of the stuff that was brought to market was -- let's say immature >> these companies generally, particular thee when it cams to spaces, but a lot of these companies are more mature. i think the difference between today and 1999 and 2000, is most of those things were.comes coming public, they were mostly retail, kinds of e mers.

they were immature broadband wasn't as ubiquitous in this case it is across the world. consumer software, biotech, industrials. everything the ipo bucket this year is more diverse in terms of industry than it would have been in '99 or 2000. the performance obviously isn't good but it is a different group of companies. shouldn't overthink this, overworry and it look at those comparisons and say okay this is going to be history repeats it itself as a group, the companies that have come forth this year, they have earnings, they are real enterprises, they are not.com ghosts. >> some of them, most of them. yeah, i don't think you should necessarily overthink it i think the one similarity between '99 and today is that the public market investors, the big institutions who buy into the ipo they are still active can lowing cash at almost anything that's coming into the market that is a similarity between the two. >> dan premack, we appreciate it. coming up, peloton's big

moment the company clapping back with a new ad aimed at sex in the city's reboot after a popular character died of a heart attack after riding the peloton bike. we will speak to the head of the agency behind the new commercial along with peloton's head of marketing. it's a big thing

♪♪ ♪♪ ♪♪

to new beginnings. >> to new beginnings you look great. >> i feel great. shall we take another ride life's too short not to.

>> and just like that, the world was reminded that regular cycling simulates your heart lungs and circulation reducing your risk of cardiovascular diseases reduces blood fat levels he's alive >> that was an ad. and frankly, i think a great ad for peloton, released over the weekend in response to -- spoiler alert, if you haven't seen it, the shocking death of mr. big on the sex in the city reboot big died of a heart attack after completing his 1,000th peloton bike ride with instructor allegra played by jess king who appears in the ad with mr. big, the actor, chris knob. peloton struck back touting the benefits of indoor cycling with ryan reynolds' advertising agency mountain which recently acquired his maximum effort advertising arm.

reynolds also does the voice-over let's go over how the ad came together with representatives from peloton thank you for being with us. it was a brilliant ad. how, mark, did you pull this together so fast as i understand it, you didn't know this was coming until the episode was dropped. >> absolutely. yeah so maximum effort -- mountain software company and maximum effort basically is a division as an agency we love dara we met her recently and put this together in 48 hours i can let dara talk more about it she was will on set making part of the -- you know, part of the team making this happen. >> dara, how did you get chris nnoff and jess king, an loyee of peloton, she was the instructor who plays allegra in the show.

how did you get them so quickly? was it sarin dip to us that they were free and you met their price? what >> i think what's excite being this again, none of us. this was not a product placement by peloton so we did not have any formal product or brand bracement with the show or hbo. we were very surprised when the episode premiered. i have to give all the credit to maximum evident. we reached out to ryan reynolds, it's his marketing company we reached out to them and together we were able to make this happen because we are part of an innovative model called creative -- it is crowdive as a service subscription that mountain offers we were one of the early people to put our hands to do that. together we were able to move with a very modest budget and be able to execute this together with lightning speed it is what worry calling sort of

fast advertising >> you said you did not do this as a product placement you didn't pay the producers or hbo to put the peloton bike in the ad, which is -- >> absolutely not. >> you give them a bike. >> we did not give them a bike. >> pardon? >> we did not give them a bike they procured our equipment on their own. peloton was not involved at all. we didn't give them a bike of the it came as a casting opportunity for one of our instructors. of course if we ever do a product placement we review script we have a rigorous process this was not that. >> when you saw the episode, what was the reaction around peloton? >> i mean, honestly, what we were thinking was it's so important to division fiction from reality right? things that happen on television are fiction. plotlines are designed for dramatic purposes. we thought, you know, let's use

this opportunity to make sure that we reinforce the critical narrative. and that narrative is that cardioexercise is good four. it is helping millions of real people around the world lead long, happy, and healthy lives so it was really exciting for us to be able to do this. ryan reynolds is a genius, a brand visionary. and he's a peloton member. it was wonderful for us to be able to come together to reinforce this very, very important health message. >> we should note that ryan reynolds was involved before the lady from the peloton adds, he made her the face of his -- was it vodka >> gin. >> gin this is fascinating. i love the legalese as dara tries to explain what they could or couldn't officially do. were you only able to pull it off because of ryan's connections or would you be able

to do this for any client in the future >> mountain and maximum effort as a part of mountain, we are always on. and we were literally at a company event when this all came together i mean, we learned about peloton being on hbo, again, as dara said, without peloton even knowing. we found out the same moment they did so literally, within 48 hours we had people from maximum effort fly to new york, write a script, secure a crypt, find a place to film and film this and put it out on sunday. we are talking saturday and sunday people from maximum effort got on a plane, a red eye saturday night. that's how fast it came together where katyive as subscription plays a role, we didn't have to come up with a accurate. by merging media and creative together we could go forward. >> and you can go fast.

>> without worry about the cost of it. we can go really really fast. >> let me interrupt because we are running short on time. dara, i want to come back to something that seems important to me. you had a personality request for one of your instructors. they bought the bike they put the bike in the show. you had no control over the script, you had no knowledge that this was coming in retrospect, next time will you be more careful about how your product is is portrayed in either a movie or a film or something like that? i have got to imagine you kind of went oh, my god, what happened here? >> peloton did nothing here. we did not -- we did not give them the bike. we did not approve it. hbo, or the show, they procured our bike on their own. so there was nothing -- peloton did not give the bike. we did not -- this was not a brand or product placement we did not give our equipment to

the show or hbo. they procured this on their own without -- >> you did give approval for jess king to appear in the episode as an instructor, right? >> we gave approval -- it came in lieu the casting agent. our instructors tends to do a bunch of different outside -- you know, our instructors do certain things, we are supportive of them cody bixby was on "dancing with the stars. >> i follow them all i am a customer. and they are a busy group of men and women. i mean, it's -- and i have to say, in this case, you sort of turned lemons into a very taste lee lemonade i literally laughed when i saw that ad. anyhow -- >> one other thing our peloton team, our peloton marketing team works 24/7 on our brand. and this stuff does not happen by -- this doesn't happen without having an eye jail excellent team

>> i have got to button it here. in the fact versus fiction, you have to tell you that my wife was very upset with the episode, very, very upset, angry about the way it ended that has nothing to you. but she tearfully came to me before dinner me in the house again. >> seriously >> she did. >> you won't - >> i didn't say that. >> you understand the difference between fiction and reality. >> i do. >> i'll never leave the crockpot on overnight. >> we're roughly the same age. >> chris nott is alive. >> good stuff. >> a laugh or a lawsuit. this is not over thank you all. the nasdaq 100 class of 2021 has some key growth stocks in and some others out.

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welcome back to "power lunch. i'm seema mody nasdaq 100 welcoming a few new additions to the exclusive club. palo alto, airbnb and others get the nasdaq seal of approval why what about the traders let's bring in the analysts. you like palo alto up 50% this year. >> had an incredible year and might be a good stocking stuffer. if you look at it, the network security side of the business, all those segments hadn't have less than ten major product releases that tells me that the company is doing a great job to keep up with infrastructure and i.t. demands. if you look at a financial

standpoint, last quarter is a 30% year orr year increase but i'm looking for a stock here that's going to do well in a secular growth story and they are the market leader in the story and that's where i would go. >> to what degree can a nasdaq inclusion have a positive effect >> outside of one or two days probably not much. i don't think this is a signal to trade off of but looking at the additions and exclusions probably the industry pair that i think ultimately helps the index performance is that of palo alto and removal of check point software i think palo alto does better to the market breaking to the upside overbought here and should trend higher over the long term.

>> thank you ty, back to you. >> thank you "power lunch" will be right back >> and now the latest from trading nation.cnbc.com and a word from our sponsor.

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food prices is a key reason why inflation is up. here's to tell us why kristina. >> reporter: fertilizers provide nutrients to this crops and this sprays it into the fields. i'm here where that produce everything from cotton to grapes and the own every jay hill said it's not only fertilizer prices to deal with listen in . >> we are fighting multiple balls. we have an end consumer saying adapt to climate change and people don't want to go to the grocery store to pay more for the food. >> reporter: nitrogen based fertilizer require nat gas and

coal there's export restrictions in china. supply chain issues. that's adding to the increase and weighing on food prices which has hit a 10-year high but overall this could continue into the following year with these trends especially nat gas. >> it's all connecting energy to food and all connected. >> thank you for watching "power lunch." >> stay tuned. "closing bell" starts right now. ♪ welcome to "closing bell." i'm courtney reagan in for sara eisen. we head boo the final hour of trade. >> i'm jon fortt wilfred frost will join us in a moment let's look at what's driving the action uk con