but i am just hearing that high-level conversations have been going on, dom, for reopening that bridge between hong kong and macao. that would open the way for visitation there. >> gaming all over the world thank you for the update on the casino stocks. that does it for "the exchange." "power lunch" begins right now have a happy holidays. and we will see new 2022 -- and we will see new 2022. >> thank you, dom. welcome to "power lunch. i'm rahel solomon in for kelly evans. and tyler mathisen the ceo of cue health we will ask him about ramping up covid tests. and the ceo of crocs, the company making it is biggest acquisition to bolster growth. but stock is falling as investors question the move. and the ceo of marcus and

mill chap. he sees a office recovery, not next year or the year after. but 2024 it is a big hour ahead tyler. >> rahel, thank you very much. let's get to the market. it is a busy day, an up day. december looking a heck of a lot better than it did last week higher for a third straight day some of the major indexes. there you see the dow industrials. they are higher about 250 points, they are about two thirds of a percent. the s&p is less than half a percent away from an alltime high threw see it at 4, 733, up 3/4 of a percent and the nasdaq is up as well n. deal news, the covid test maker quidel is buying ortho clinical diagnostics for about $6 billion. quidel shares down about 17%, but ortho, as you see s higher by about $1.33 and the fda has cleared merck's at-home covid pill for certain

at-risk adults it is the second emergency authorization for an anti-viral in as many days. pfizer's treatment was cleared just yesterday that is where we begin a record number of covid cases being reported in cities across the u.s. as testing lines and wait times grow ahead of the holidays meg trill joins us now with the latest developments on this evolving story hi, meg. >> hey, tyler, we are starting to see an alarming rise in case numbers. they now exceed 160,000 per day. on that seven-day average for cases, we are almost seeing it jump by 10,000 every day so that's the number of omicron cases that are adding to the case load here but if you look at hospitalizations and deaths, while they are also rising, they are not rising at the same sort of extreme angle that we are seeing cases rise. the hope is that that is going to stay that way

we just saw new analysis out of the uk that suggested lower severity that continues with the trend we have been hearing about for the last few days. nonetheless, give the sheer number of people who may get omicron, they are still warning about the potential for health systems to become overwhelmed. we did get a new tool added to the arsenal just this morning in merck's drug, another covid-19 anti-viral that can be taken at home the fda giving it emergency use authorization only for high-risk adults for whom other available drugs are not accessible or appropriate. paxlovid, pfizer's covid pill was cleared yesterday. it does have some drug interactions and there is less supply of it, as you can see there. 265,000 courses by the end of january, cared with 3 million from merck we did just hear from hhs about the first shipments of paxlovid going out to states. the way that's going to work is 65,000 doses go out now.

you can see here it is essentially allocated by what looks like population level. the states will then decide where the drugs go within those states guys, these will be helpful tools but they won't yet be plentiful enough for the sheer number of people getting omicron right now. guys >> speaking of that, meg, many people trying to get tested before they visit loved ones for the holidays many people will want to be tested afterwards. where do we stand on the capacity to meet the demand of whatever sorts of tests are available? >> well, it's not great out there for testing right now, tyler. we are all having trouble getting these home rapid tests looking in pharmacies and on line you can still find them but it company spotty because everybody is trying to get them at the same time. pcr testing wait times are growing. we hear about people waiting four or five days sometime according to an expert at arizona state university we have seen the capacity of tests in

the united states increasing month-to-month, both antigen tests and molecular tests. you can see here, they are expected to get to 681 total capacity by march, up from 516 million in november. but right now, ty, it doesn't feel that way. this is a really tough crunch. >> yeah, it really is. meg tirrell, thanks very much. tyler, a company named cue health finds itself at the center of this issue the company provides home molecular covid tests with results in about 20 minds lieu the cue health app let's go to julia boorstin and a representative from cue health >> i want to make it clear because alot of ourviewers use the binax or other home tests. what you do is you sell reader for $250 and then individual tests that work with the reader for $70. you get discounts with both

buys tell us, for this product, what kind of surge in demand are you seeing right now are you able to meet that spike? >> thanks for having me on today. there is quite a lot of demand for our covid-19 tests it does detect the omicron variant. certainly for many people accuracy in detecting covid-19 is one of the most important things about a test. we can bring that into home with lab-quality accuracy, results in 20 minutes i am glad you pointed out our system is different. we are not a rapid antigen test. we are really a new category, a knew klyuchevsky cl-- we are a e clayic acid -- we have sensitivity of the lab test like pcr. >> clint, though, it is significantly more expensive than some of these other rapid

tests that are the antigen tests you can get for say $20 or so. how do you see -- who do you see as your audience for this? who are you selling your devices to now is that shifting because of this omicron surge? >> yeah, our customer base is diversified. we sell into four main customer categories of course we have a long standing relationship with the department of defense and health and human services through them, we are distributing products to state and local health care officials. we are in underserved communities, in nursing homes. very high-need areas all over the country. we are in doctors' offices, traditional health care settings we are also in large enterprises. key customers like google and the nba, and mayo clinic our fourth customer category we launched recently is direct to consumer anybody can come to the cue health website, order cue products, get a membership to the cue plus program you can get a lot of the products delivered the same day

if not the next day. those customer categories, we continue to serve the demand we are getting from those customer categories. >> clint, one of the things that you seem to be pushing is the idea that this test, the results of this test would be accepted by the federal government if i am an international traveler, i have to take a test the day before and then come back into the united states. how does the -- how do the results project in a way that the person who is instructing you through customs will see and it be able to let you in >> yeah, so, through one of our memberships in our cue plus complete program, you are able to perform cdc-compliant supervised testing what that means is you have a proctor on -- it's all within a mobile device. it is similar to a facetime call it happens within our cue health app. you get on line with a prokt for who supervises you taking a sample from each side of your

nostril and inserting that sample into the casse trij and then that test proceeds, then that proctor is able to verify you in fact performed that test. if your test is negative, your test result comes up on your mobile app, and it says "proctor verified". that allows you to travel back to the u.s. in a cdc-compliant manner. >> very interesting. you could see how that would be kickly valuable if this pandemic drags on which it seems like it is going to but i am curious how you see the future of cue health playing out. are people going to increasingly want to have these in their homes? is the cost of the test going to come down? are you going to pivot to address other testing as well? >> yeah, i mean, we started ten years ago with this product as a platform, you know, we want to be the hub of health care in the home covid-19 ultimately is our first product. it is and going out to hundreds of thousands of people, millions of people, all over the country.

this platform is expensible, we have many products in the pipeline, influenza, strep, and rsv. some of those are entering clinical testing this year women's health is going to be a big product for us, to be able to perform sensitive accurate sexual health tests in the privacy of your own home in 20 minutes. we think this is the future of testing, to be able to get a test result, engage with a health care provider immediately every your mobile device and get treatment and therapy as you you need it. >> certainly, people are getting a lot more used to doing at-home testing. clint receiver, thanks for joining us, from cue health. >> thank you. and thanks to you as well, julia boorstin alrighty coming up, as we continue our busy hour today, crocs making its biggest acquisition ever but the stock is falling on the news after just about doubling this year so far

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we have jackenland joining us today thank you for joining us today. >> sure. >> heading into 2022, we have high inflation, rates likely going up, perhaps even three times. you say one of the best ways to play that environment is high quality names with strong dividends? >> yeah, that's it we are taking our cue from the bond market. if you look at what the bond market is projecting it's saying we are likely at peak inflation right now and that will roll over to roughly 2.25, 2.5% by year-end 2022 and growth will likely trend back to its normal levels. so i think if you take that backdrop and say, you know what, we are also seeing evidence that this supply chain tight seasons loosening up in fact, inventory growth is outpacing new order growth suggests that the bond market is probably right that is an environment where, you know, just the basic organic

growth of earnings and dividends will likely pay the best returns to investors. >> even with wild cards like omicron heading into the new year, you think it's still safe to assume things will normalize back the prepandemic >> yeah, i mean, look, rahel, there are always scenarios out there we are not going to be able to predict. so we certainly have toby aware of that. but part of is, you know, we think that if build back better doesn't happen or if it's scaled back, that will likely also really push these growth rates back to long-term trend quickly. >> okay. what sectors do you like, or what specific names do you like? >> sure. generally, we like the sectors that have the highest earnings yield, custwhich is really the reciprocal the forward pe versus

dividends. financials, health care, utilities, and staples in fact -- so j&j is a good example of that. here's a company that's gotten beaten up pretty much this year because of the performance or relative underperformance of its vaccine relative to pfizer and moderna. and yet j&j is certainly a multifaceted company, is projected to grow earnings at 18% next year and have a 2-plus percent dividend which by the way has pretty much been paid consistently throughout history a. soft dividend, quality company, and strong earnings growth for 2022. >> specifying earnings growth, i thought it was interesting, maybe some exceptions to the rule that you don't like energy for next year? >> yeah. we don't like energy and materials. largely because of the commodity cycle. if you think about it this way there are really three sources of input to production, right? there is capital

there is labor, and then there is commodities it is generally a zero sum gain between the three. what we have had is very cheap capital. its allowed labor wages to rise and commodity tries to expand. now with the fed really throttling back growth with higher real rates and restrained financial cross tier capital, that will likely restrain some wage growth which we think will obviously go along with inflation but will also push commodity prices lower longer term, we are energy optimistic but we think it is going to have a rough go over the next 12 months or so >> jack, if i might, i want to go back to johnson & johnson for just a minute. this was a company that had a pristine reputation for decades. does it any more, after the vaccine issue, after the settlements they have had to pay

with talc. the opioid addiction issue, mesh and other thing. does this company stand up the way it used to >> i get it. there are a lot of headline risks buffeting johnson & johnson over the last 18 months or so. it is still a very high quality company. i will say, of all of the issues that potentially plague j&j it is going to be the devices, the device portion of their business tends to be a drag on earnings and likely pull their valuations down i don't expect them to spin it off. it's equally distributed between pharma, consumer products, and devices. so i think that j&j's still a high quality company with pretty solid earnings the nice thin about those three sources of return, those earnings are relatively predictable.

>> all right jack. thank you very much. have a good holiday season we will see you, if not sooner, we will certainly see you next year >> thank you. alrighty crocs is making its biggest acquisition ever the company is buying hey dude the stock falling on the news, though, on pace for its worst day since april of 2020. take it in stride, folks shares are up about 90% this year there you see it, off today but up powerfully for the year here for a "power lunch" exclusive is the ceo of crocs. mr. andrew reese welcome. it has been a great year, a great run for crocs. i guess people are questioning the acquisition, maybe the price, $2.5 billion. however, as a multiple of revenue it's not that rich a

price. it is about four times revenue one of the things that stands out about crocs is that it has an iconic shoe the clog is iconic, like timberland's yellow boot, or the topsider does hey have that iconic shoe >> yeah, tyler, absolutely we are super excited to announce in this acquisition. we think hey dude is a great compliment to crocs. one of the reasons we think it is a strong compliment is exactly what you just said they have an iconic shoe the wally, the wendy is the women's version. two shoes that represent a significant portion of their sales. the eye on couldic silhouette provides comfort, it is stylish, easy on and off, it is lightweight and we think a great way to diversify and provide for invest to your investors is not to diversify away from our eye chronic crocs, but to add another brand with its own icon.

>> forgive me for not knowing, this is a brand that i am not terribly familiar with, hey dude, or their iconic shoe how recognizable are they? how much market penetration does that company have in the u.s.? >> that's a great question i think that's one of the things we are seeing today. this is a company that has approximately $570 million in sales, 95% of those says -- that was in 2021. 95% of those sales are here within the u.s we are projecting that as when we acquire this company they will do between 700 and $750 million in sales next year given those sales it obviously quite well penetrated. i would say the nucleus of the popularity exists in the midwest and south of the country it hasn't spread to the coast as some other companies would and that's our opportunity so it's a scale company today,

it is a scale brand. but we think it has more potential here in the u.s. and also globally. >> andrew, rahel thanks for being with us that was my next question. when you think about timberland, they have mass appeal. crocs, they have mass appeal as the company looks to branch out to the coasts, how do you sort of popularize the brand did you partner with influencers? what's the strategy. yeah that's what we have done with crocs. crocs, over the last several years, in 2018, we were a billion dollar brand this year we will do over $2.3 billion. we have more than doubled the size of the company. we have done that through our marketing strategy, through product inowe administration and our marketing strategy in terms of the marketing strategy we use used collaborations, used influencers, we used social and digital communication. in order to engage with the younger consumer in particular who has energized the brand. we think we can bring that

playbook to adude and drive incremental brand awareness and penetration for this brand. >> you have used influencers very effectively you used recently, i gather, sort of a fashionable shoe designer to do his or her variation on the basic thing but another thing that has powered our growth, correct me if i'm wrong, is how many first responders, nurses, doctors, emergency providers wear these shoes as a matter of stylish comfort. >> yes, yes. you may remember back to 2020 and the height of the pandemic where one of the things that we did immediately is we donated i think about -- almost 900,000 pairs, 850,000 pairs of shoes to front-line health care workers in this country and other countries around world because frankly our shoe gives them great comfort but it was also easy to sanitize when they were

really in need relative the covid pandemic it has brought us tremendous good will and we see a lot of front-line health care workers continue to wear our shoes and our product line is orientated to health care workers and food service workers lines are doing extremely well there is that side of the business importantly there is also the fashion and the trend side of the businesses when you have two pieces it makes it a very powerful brand combination. >> andrew reese, thank you very much we appreciate your time today, and good luck with the acquisition. >> tyler, i looked up hey dude i am certain you can cull them of to. they are fashionable, stylish, comfortable. you have got it, tyler. >> i am going to go look them up i am going to go look them up. >> okay. in the enmootime, further ahead on this show, the last page in our "power lunch" driver's manual, an in-depth look at the companies that make the cars. plus the battle of the blockchains, as ethereum's price

skyrockets competitors are taking aim at its market share when "power lunch" returns

welcome back to "power lunch. i'm leslie picker. here's your cnbc news update at this hour. near minneapolis, the trial of former police officer kim potter is coming to a conclusion. the outcome of the jury's four days of deliberations will be read in court late they are hour potter is accused of manslaughter for fatally shooting daunte wright at a traffic stop. lawyers for donald trump are taking their fight over white house records to the supreme court. they are appealing a lower court's ruling that a house panel is entitled to get documents related to what trump and his team were doing during the january 6th attack on the capitol. ukrainian troops are conducting military exercises with u.s.-supplied javelin anti-tank missiles as russia continues to deploy thousands of troops along its border. today the white house says there is still no agreement on a time and place for new talks to begin between president biden and

russia's president vladimir putin. and within the last half hour, word that new york city will not cancel its 2022 knew year's celebration in time's square but it will be significantly scaled back with only 15,000 people allowed to attend instead of the usual 58,000 in viewing areas. still, 15,000 seems like quite a lot. they have to be masked and there are additional precautions >> one to watch, for sure, leslie hopefully they can pull it off safely. >> he let's get a check on the markets. best levels of the session the dow'd aing nearly 300 point right now. the s&p swrus about eight points from its all-time high at 4734 right now. the nasdaq meantime up 1%, the best performer today tyler? >> all right, thanks very much, rahel. ahead on "power lunch," out of office commercial real estate took a major hit in 2020. each time companies seem ready to return toft office another speed bumpy merges

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recovery in commercial real estate let's begin with bob pisani, though, and the stock market rebound. bob, the dow up 1,000 points in three days what a rebound >> yeah. in fact, we are at highs for the day. we are on track for a new high in the s&p 4712 is the old one. we are way above that right now. what i like is the rotation going on cyclicals have been iffy in the last weeks but rallying in the last days. what are cyclicals, caterpillar, honeywell, industrial stocks financials like american express, energy stocks like chef ron. they are leading the dow higher today. what is lagging? a couple weeks ago when everyone was worried about the fed and omicron breaking out defensive names were doing well. but they are lagging consumer staples, like coca-cola, merck, walmart, even apple issing laing a little bit. apple was the outperformer you see the rotation going object into the cyclical groups? revery healthy the bull market is winning out -- the bull market narrative is winning out.

the basic idea here is omicron is highly contagious but for those fully vaccinated with booster it is not as dangerous that's the narrative that's winning right now. there is not going to be a bass shutdown in the united states. you can see that right now bottlenecks and supply chains might ease in the first half of 2022 if there is no mass shutdown f. that happens, the bottlenecks and the supply chains ease, the fed might be less aggressive on inflation attempt, consumers stay strong and earnings stay strong no shut down, consumers stay strong, the fed is only gradually raising rates and the market can hold up in those conditions the last five trading days of the year, generally produces positive returns in the last 40 years. typically up 1.4%. guys wharks we are seeing here rahel is we are pulling forward all of those gains from next week usually you get the rally in the last week of the year. now worry getting it in the prior week we will see if we can continue into the end of 2021 my only concern, guys, we are

sort of pulling forward a lot of potential gains in the early part of 2022 we will worry about that in week or two. >> santa came to town a little early, bob thank you. as stocks are rising, bond prices are falling, sending yields higher back to 1.5, rick santelli is in chicago for us. we had important data out today. i will disagree in on what i thought was the most important that was the personal consumption expenditure core deflator year over year. that was up 4.7%, a 32-year high the other number that was important, all of this is part of the income and spending and our fed spafrt, the personal consumption expenditure, deflator year over year, the highest in 39 years. we have a world filled with liquidity, we are all worried about inflation and there is a

lot of debt. l-i dermato. how do we keep a lid on the inflation rate we have going to central banks our meeting is 12/15 we were at 146 then, at 149 now. a whopping move of three basis points, up 2%. what happened with regard to the bank of england is this their meeting was a day later. here's their ten-year. up from .76 to .92%. bunds win, they are up 28% a good reason not the look at percentages when you are looking at small interest rates. they wind from minus .3% to minus .25% central banks have to stay with these programs to remove some of the liquidity and move rates up before inflation gets out of control. the dollar had an intraday of

96.91. the second highest intraday level all year rahel, back to you. >> rick, thank you. oil is close forth the day, also heading higher, also rallying for the third straight day. pippa stevens has those numbers. >> three straight up days for oil putting it around the highest level in a month crude also seeing a second positive week in the last three. the leg higher thanks to mostly positive covid vaccine and treatment headlines adding the major catalyst for oil in the new year lean toward higher prices wt is up 1% at 73.59 brent crude at 76.64 for a gain of 1.9%. nat gas sliding more than 5% but managing to eke out a gain for the week of heading into this holiday weekend, gas prices have been declining but you will still pay about $1 more than last year. the national average for a gallon of gas is currently $3.29

according to triple a. back to you. >> pippa, thank you. as covid cases rise, plans to return to the office are on hold for many companies. our next guest didn't see office real estate recovering until 2024 in major cities hassan naji is the president and ceo of mark us and millichap, largest commercial real estate marketing firm in the united states i wonder if this is the same prediction as the airlines, airline ceos say they don't expect business travel to recover to prepandemic levels until 2024 but they do see demand surge, next year. how do you see this playing out? a similar way? or are we going to wait until 2024 to wait to see this recovery start to pick up? >> sure. thanks for having me on the program. from an office space usage perspective it is probably going to be 2023, maybe 2024, before we are back to normal, precovid normal

however, a couple of thing to keep in mind commercial real estate investing has options. apartments are fully occupied. rent growth is at a record level. necessity retail, fast-food restaurants, drugstores are at a record high. demand for self-storage, student housing, all of these segments are doing well office space is the one laggard, even compared to hotels which were of course shut down and the anticipation is that hospitality, hotels will come back, as a matter of when, not if but with office space, the question is, what will the hybrid work environment look like even after we get through all of these speed bumps like omicron and whatever else may be on the horizon what will it look like long term will there be less demand for office space per worker? we believe there will be it will shrink demand. at the same time when you have a record number of new business start-ups and economic growth that's sustaining, you are going

to see new growth. we think those two will offset each other, but in the meantime you will see fits and starts when it comes to office space. >> we have already seen it playing out in places like florida and texas. does sort of where we go to work start to change? >> it does n the sense that the markets that are capturing the migration of people and companies like arizona, nevada, texas, you mentioned florida, georgia, even the state of washington seattle for example, is already seeing a very large recovery that and migration in many of these markets is finding very low office space availability. in florida some of the submarkets are having to build new office space in other markets like new york, like san francisco, like chicago, where the vacancies are very high and the hybrid work environment is going to reduce office space, the market is really having to depend on future job growth. and the business formations that

we are seeing are promising. but they have a long way to go to replace the vacated office space. one thing to keep in mine, the average office lease still has three and a half to four years left on it so our clients, our office space clients, owners of these office buildings are still financially fine because most of the companies survived and they are paying their rent. so from a default perspective or loan performance perspective, we don't really see a big crisis ahead of the office sector it is a matter of office space usage and what happens when those leases roll over. >> it will be one to watch 2024, again, full recovery for commercial real estate hassan naji, thanks for being with us today. >> thanks for having me on tyler? >> rahel, after the break, the conclusion of our driver's manual series. and we are going to celebrate here in the matheson household because my son, mack, just now got his learner's permit, everybody. we broke down the car from --

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all right. it is time for our final driver's manual, our series where we look at every piece of the car, the inside, the outside, under the hood. now it is time for the companies that put it all together, the automakers themselves. and dan ives covers the tech sector at web bush, that includes a lot of the auto makers do you think the chip short sandal going to abate in the first half of next year? or is it going to last longer? >> i think it is going to moderate significantly into the first half of the year we are starting to already see that from our supply chain checks that's going to remove a major overhang on the auto market, specifically on evs. when you look at some of these shortages. i think that's something the street is not factoring in that's going to go from a head win to a tail wind in 2022 >> and you think '22 and beyond

are going to be the years of the evs? >> i think it's a golden age for evs. up to now has only been tesla. they have had the iron grip on the market they are going to continue to be strong i think potentially 60% type growth on units this next year now about the green tidal wave, $5 trillion that's going to be spent over the next decades. it is the biggest transanything the auto market since the 1950s. i believe there is a rerating in names like ford and gm i think that's going to be on the radar of investors as this transformation takes hold. >> and gm is one of your picks i want you to take us through the argument for it. because in light of what you just said, and that is that the category has basically had a category killer named tesla there for a long time. but it is not for want of gm's

trying they were in there with the volt, the bolt, the jolt -- whatever they are -- but maybe they haven't gotten credit for it why do you think now gm is going to have the kind of ev success that they seem not to have been able to have prior >> that's a great question i think up to now, they have always been at the kid's table for thanksgiving they were on the outside looking in in terms of the technology, and i think in terms of the vertical stack. now, what mary and the team have done, it is really a fully integrated ev strategy with ultimatium, with 30 models that are going to be coming out over the next six to seven years. to me it is about conversion if they convert 10% of their base over the next two years i think it means this is a stock that's a $100 stock. to me, it is about convergence of gm. the path has been choppy going forward i think it is going to be a renaissance of growth in detroit.

>> people do like rivian you are among them. betting hean trucks and suvs. what's to prevent tesla from coming out with a stylish suv or gm or ford to compete in the suv ev space >> they will definitely be a major player i continue to view this on the pub suv to ford and sievian. that's a trillion dollar market alien. what rivian has done is blind blowing in terms of the stack they have already built. valuation will be a debate you have got to see the forest through the trees, the next three, four, five years, it is a category definer but our top pick continues to be tesla in terms of core automotive value on evs. in the basket of ways to play this, rivian is going to be one of the leaders. >> dan, have a great holiday season we will see you next year if not

sooner. >> you too. >> dan ives. coming up, we are getting in the holiday spirit we present the stock traders' naughty and nice lists our trading nation team will take a look at the biggest decliners this year and tell you what you should buy for 2022, coming up next sales are down from last quarter, but we're hoping things will pick up by q3. yeah... uhhh... doug? [children laughing] sorry about that. umm...what...it's uhh... you alright? [ding] 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 and start trading today. get e*trade ♪ ♪ ♪

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♪ welcome back to "power lunch. the stock market tracking for another year of double digit gains, but not all names have made it on santa's nice list peloton, zoom video, penn national and global payments are a handful of stocks relegated to the naughty list we asked our next guest which stocks could be setting up for a better 2022? the trading nation team is nancy tangler, quinn tetro nancy, really bad year for zoom and peloton >> yeah.

our naughty list includes square or block they're in the perfect space for disruption but they faced a number of hurdles this year. not just that recent regulatory concerns about buy now pay later, but worries about slowdowns in payments, as fiscal stimulus checks began to fade into history, and, of course, the company has had, you know, spotty leadership, now we have that problem solved and there's a lot of good news going into 2022 they have a partnership with tiktok that includes a billion users who purchased -- 50% of whom purchased goods from tiktok and square will benefit from that the fees are attractive there. you have afterpay, that merger is in the books. you have a company that has introduced a number of new applications, so the ecosystem for square has improved

dramatically it's down 27%, viable in our work we bought it and added to it re recently at the end of year selloff. >> you have your eye on block. and quint, you have your eye on a hospitality name >> las vegas sands has experienced a double whammy this year it's an entertainment, you know, name that is going to be in trouble due to covid, but it's also tied to china so this stock is really in the trash heap i picked some shares up recently as the trade was stopped against the recent lows. what i like about them, they have basically sold -- even though they're las vegas, they sold their las vegas property for about 6.5 billion to sure up their balance sheet, they're doubling down on their macau exposure and i think travel and gaming will come back. this stock looks fairly cheap, has been beaten up but i think will do well in the coming

years. >> the travel and hospitality space has done exceptionally well so far this week thank you for joining me today for more trading nation, head to our website or follow us on twitter. tyler? all right. thank you very much. from here to ethereum. bitcoin was the next big thing until ethereum came along, now newer play keaers could be comi for a slice of its pie that story is next now the latest from tra tradingnation.cnbc.com if you're an active trader, sitting on the sid leline can be difficult. during times of high volatilvoly you may want to trade less when things really get crazy, sometimes the best trade to make is no trade at all

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welcome back as we wrap up 2021, bitcoin is the dominant trcryptocurrency, s it grows, ether gained nearly 450% will another crypto push ethereum off its perch kate rooney has cryptocurrencies you should be aware of

>> cryptocurrency is the option for developers developing nfts, but it's starting to lose its dominant it went from 95% of developer activity measured by total value locked on chain to about 65% in recent weeks why would someone ditch ethereum first, the money minting an nft can cost hundreds of dollars the gas fees go up when there's more stress on the networks. critics say ethereum is too slow and they won't be able to scale, they're working on an updated version called ethereum 2.0. so binance, terra and solana have been moving in. some say they're cheaper, more scalable and some even call them ethereum killers solana has seen multiple outages this year. and john woo of arva labs says i

reminds him of the internet search days of yahoo! and others when you have competition. the tokens associated with the newer blockchains have seen somewhat of a gold rush this year solana up 11,000 percent terra up 15,000 percent. >> thank you thank you for watching "power lunch. "closing bell" starts right now. >> we'll see you have a good holiday. welcome to "closing bell," i'm sara eisen wilfred frost is out today a third day of gains for stocks as we gear up for the final hour of trading this week let's look at what is driving the action durable goods rising more than expected personal income and spending both increasing in november. another covid antiviral pill approved for use this one from merck.