once those benefits go away in 2022 i think we will really see kind the true sense what have these businesses are facing. >> absolutely leslie we appreciate it less low picker reporting. that does it for "the exchange," everybody. thank you for your time, i will be joining frank holland for "power lunch," which starts right now. ♪ thanks a lot, kelly and welcome to "power lunch. i'm frank holland. here's what's ahead on the show. russia risk. president biden and putt continue to speak this afternoon amid heightened tensions over ukraine. at stake the natural gas market and potential for higher prices. forget faang, there is a new basket of stocks to watch in 2022 we will talk to the investors who is betting on a new acronym. 2021 was a record year for ipos but there were many disasters, which are still worth owning we will tell you later this

hour let's first send it over to kelly with a check on the markets. >> the dow is up, trying to go eight days in a row higher for the year we haven't had a stretch that long since 1919 when we had nine right now, it is up 40 the skds is up 7, the nasdaq is up 77, outperforming tel aviva facing an poilt relate related judgment. look at the cruise lines the cdc raised its advisory against americans cruising even if vaccinated. now the industry is responding saying wait a minute, our omicron cases are way lower than the average. still norwegian is only down 1%. tesla, recalling half a million cars over safety issues. stocks fluctuating between gains and losses this year

back you have a trillion dollar market cap. that brings us to what bulls and bears are talking about apple, microsoft, and nvidia heading into 2022. josh liptdon is looking at where the buying opportunities are josh >> kelly, where to put money to work in 2022 how about apple? let's start there. that stock is having a strong showing. it is up about 35% in 2021 now, some say that means the stock does not look like a bargain here they also think the iphone 13 cycle isn't going to be so strong relative to the iphone 12 cycle. bulls say the 13 is going to be stronger than others think so their betting headquarters is cooking up exciting new products set to be unveiled next summer then microsoft stock is up 50% this year. bulls say it is still a buy. bottom line, enterprise i.t. spend remains at an all-time high microsoft benefits from that, so the argument goes, give its

offerings across cloud computing, productivity and business applications. we are going to end on a jim cramer favorite, nvidia, in 2021, soaring some 131%. remember n 2020 it soared 120% no surprise valuation here scares some folks on the street. others say valuation for tech investors is not a reason in and of itself to buy or sell they still like nvidia because demand for the company's products is still strong, showing no signs of abating. back to you. 2021 it was a bit of a mixed bag for the faang trade, apple and alphabet outperforming the market but amazon and netflix lagging behind my next guest says there is a new acronym trade and he invented his own name for it

welcome david. we have garp, fomo, faang, you came up with a new one what is the acronym and what are the components of it >> the act row name is ici it's sort of inintel, cisco, and ibm. but the theme of it is old tech. it's the uncool tech, the stuff that actually makes the world turn that is necessary for new tech and so much of our technology infrastructure, particularly in business enterprise but it has been forgotten because it does not have the fast growth rates that the other names, particularly the faang-type names, have the difference is, of course, valuation. the faang basket strads at an aggregated put pell of about 45 times earnings with some names in that basket trading over 70 times, where cisco, intel, ibm, are trading at low teen

multiples and intel is only at ten times earnings so you have growth catalysts inside of value stocks that's idea the behind ici. >> all right well, your thesis here is you can get similar or even the same earnings from what you call old tech i don't want to make old and not cool sin on nows is this a long term play or a short-term play? what's the horizon for all this? >> oh, it is definitely a long-term play because these things are untimible it's one thing about valuations, i heard the prior segment on nvidia we think valuations do matter. we want to avoid very high valuation companies that we think are unsustainable. but they are not timing mechanisms 2021 was proof of that you saw a lot of technology fall off a cliff this year, a lot of the real cool -- you are right, it doesn't necessarily matter about age, but there is a lot of

newer names that did poorly in 2021, but the faang names mostly hung in there, not so much amazon and netflix the fact of the matter is that we don't know the timing of when faang suffers, but we do believe right now there is a good play with ibm, intel, cisco, and you get paid for it now. you do not have to wait to monetize the investment. we are dividend growth investors. these are three names offering cash flows that are about three or four times the market, three or four times the ten-year treasury bond while you are going to be getting paid eventual through we think wonderful price appreciation. >> eventual lo is he one of those nebulous words you made this call back on june 9th with kelly i wasn't hear. ibm and intel, two of your picks from june 9th. they are underperforming the s&p, which is flat since then. cisco is outperforming amd amazon, alphabet are also

flat since then. you are highlighting the dividends. is that where you see a lot of the value in that? because with the exception of cisco, these are underperforming. >> that's right. we are not traders here. we want to hold these for sustainable market cycles as investors. and those dividend reinvesting at lower prices add to the total compound return. this is something long-term investors have known for years i believe that over a six-month period did you see the market really wake up to cisco's story. intel and ibm, it could take much longer. i actually think ibm is 35% higher than where it was a year ago when we first really woke up to this. but intel is going to take longer because their margins are suffering as they put a lot of investment into capex to help with this whole nationwide

semiconductor story. if it takes a couple years, but we are suggesting that investors will be richly rewarded in time. >> all right, david bondson with the ici trade, brand-new acronym for wall street, to end the year kelly over to you. now to washington wrrk this afternoon president biden is holding another phone call with russian president vladimir putin. the white house says they will discuss a range of topics. let's go to kayla tausche to narrow that down for us. >> today's call is taking place at russia's request ahead of talks between the two countries that will be led by the state department in jen eva on january 10th a. senior administration official says president biden will communicate to president putin that russia must deescalate the situation at the border of ukraine in order for talks to proceed the talks between u.s. and russia are going to take place in person january 10th on january 12th, the russia nato council is going to have its own talks. then on january 13th the

organization for security and cooperation in europe is going to be meeting as well. ukraine is represented at that meeting also now, the situation remains a tenuous one. whether president putin intends to invade ukraine remains a wild card two weeks ago the national securities adviser told me already limitations to what the white house can know but i put that question to the former supreme allied commander of nato and he put that at a 20% chance. >> the pooids will be deeply concerned about vladimir putin he will continue to be a difficult interlock you for, and i think the chances of an actual invasion of ukraine are about one in five, which is unacceptably high. >> a senior administration official describes the past few weeks is as a crisis saying that

russian troop levels remain significant and that a high level of engagement between the countries is needed to find a path of deescalation. >> as all of us know from dealing with our kids it is more effective if you say, if you do this, the following will happen, than just to say, don't do it. if russia does invade ukraine, what's going to happen >> well, the u.s. and its european allies have said they are coordinated on sanctions that would be devastating to the russian economy, first and foremost, that they would increase the presence of troops in what's called the eastern flank. so the nato countries that are essentially the first line of defense against russia that are closest geographically and that, fenlly, they would be arming ukraine with new defense capabilities all of those are moves that russia would of course not like to see but whether it is enough to deter putin at the border from actually invading remains to be seen. >> absolutely. kayla, thanks for your reporting. we will look at the potential

fallout on energy prices from this brewing crisis later with dan yergen frank over to you. coming up on "power lunch," trading 2021 ipos. it was a record year for offerings. many are below their ipo opening prices plus ceos of the year, a list of three chief executives said to be trail blazers and three that could face cllgehaens in the new year all that on "power lunch," ahead. here. aspercreme arthritis. full prescription-strength? reduces inflammation? thank the gods. don't thank them too soon. kick pain in the aspercreme.

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welcome back, everybody. i want to bring your attention to some twitter comments just now from tesla's ceo, elon musk, who seems to be expecting a recession in the next 12 months. when asked when he thinks the next recession will be, he replied, quote, predicting macro economics is challenging, to say the least. my gut feel is maybe around spring or summer, 2022, but not later than 2023. no reason yet given for his bearishness. meanwhile it has been a monster here for ownerships, as in big and scary lots of companies are struggling after their debuts more than 250 of them, two thirds, are below their open prices let's trade them which should you pick up here? which should you skip? steve grasso joins us. >> nice to be here. >> rivian, $80 billion for very

few deliveries are you sticking with them >> i do think that this is, you know n adam jonas's words at morgan stanley, this is the one that could challenge tesla i believe he has a $147 price target on the name their higher price arguments across the street, kelly for me, this is the future of ev tremendous amount of competition, yes, i get that they are going to be in the charging market as well. and people have to realize, it was a slow go with tesla aed they had a ramp. they are going to have the same issues as well, maybe not as bad. frankly, they are already approved to be in all states, where tesla was not allowed to be in all states from its inception. so that already is a bigger tail wind than tesla had. >> sticking with rivian, what about clear ticker y-o-u, it is 9% above its ipo price the company provides expedited

security entry into large venues and airports they went public why is that a name people should stick with >> look at the chart on this one. it was decimated it was beaten up any time we got a head wind or negative news kelly on the virus or on the variant. this one gets its legs cut out from underneath it look at chart. it has been totally decimated. now look at the chart on the airline stocks they bounced pretty well off their recent low this. one didn't, up last week or so so i started pounding the table on this one. i own it so i said this was a tremendous discount, you should take advantage of the pricing on this one of the it will bounce the way the airlines bounce. i started talking about it at $25. we are somewhere in the low to mid 30s right now. for me, i think it is a 45 to back to its recent high of $50

this one i am sticking with it they are not only in the airports, kelly. they are in sporting events. they are every place you are going to want to be, in corporations with health pass, et cetera, et cetera. >> and i see them more and more. i understand your point. can we show the chart of virginia orbit, the spin-off of virgin galactic: i know you have been a suffering investor in the original virgin stock. what do you make of this ipo are you involved here? >> imnot vold here if you look at the virgin galactic, i bought that one around $15 if you look at how that just took off, and you know, this witness was -- for me, i thought it was going to be off to the races. i thought it was a point of things to come and i have been upset with management, to say the least they don't get in front of any negative news, about insiders selling this, and the stock plummeted. >> yeah. >> for me, you need to really

tell the story or the market will tell the story for you. you have had delays. you have had exits by insiders it is not a great picture. i am still long, unfortunately. >> it is a picture that's even more difficult in this chapter today. all right, finally to the worst -- >> i will tell you -- >> sure. >> before we tie a bow on that, they need to start talking about point-to-point travel. forget space travel at this -- space tourism. talk about new york to london in 90 minutes, and the stock will be back at old highs story to interpret you. >> you have been saying that a couple of months now maybe at some point they will look at the shares and listen. the worst performers in terms of this year's ipos is poshmark you don't own them, who should >> i don't own them. and you know when you look across poshmark, they had a tail wind from the pandemic from the

stay-at-home, it was a stay-at-home stock if you look at what really rallied in retail it has been the in-person store experience and poshmark does not check that box. i don't own it it. don't intend on buying that one. oscar help this is an interesting story goldman sachs was one of the underwriters they came out just this month, initiated on it, put a sell rating on it and put a $6.50 price target on it they have declining revenues they have expensive premiums i believe they are only in 18 states but with those premiums being so high, it is hard to grow the business the one tail wind for them is that they put off two reinsurers because they don't have enough business yet to cover in case of major financial head winds they can't cover it by their people yms alone once they get to that point, the stock will be a buy. but they are not there yet. >> steve, i know we covered a lot of ground. thank you very much.

we appreciate it steve grasso. >> thank you coming up on "power lunch," it has been a rough december for chinese stocks, but they are rebounding bigtime today we will bring you some of the winners coming up. and bitcoin not having the best december either is there hope for a rebound next year we will hear what the charts are saying stay with us ege more afforda ble. that's why we're keeping our tuition the same through the year 2022. - [narrator] i knew snhu was the place for me when i saw how affordable it was. - [narrator] find your degree at snhu.edu.

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welcome back i'm rahel solomon. here's your cnbc news update at this hour. israel now the world's first country to approve a fourth vaccine dose for people who are immupo compromise. a panel of experts recommended it last week medical workers and the elderly also get a fourth shot but the nation's top health officials wants more data before that happens earlier this week a hospital started a test on whether a fourth shot will help against omicron. we have heard how the u.s. has trailed europe with the availability of low cost at home testing. but with massive surge of omicron there, people in europe are having a hard time getting rapid tests and testing facilities are all booked up

all indicators suggest the country has passed the peak of its omicron wave. in the past minutes, cdc finds no serious reactions to pfizer vaccine in children aged 5 to 11. and serious adverse reactions were rarely reported. all right, everybody, check out the huge rally in some of these chinese stocks today we are talking gains of 5% to 16%. here's what's going on whether you make cars, drive people around in them, sell music or stream, you are doing well in china today. opinion duo duo billy billy, baidu and iqiyi all up today look at this chart

there have been tax loss selling in these names, perhaps investors are looking past that for clearer sailing for 2022 the year to date shot of crane shares >> the news of that government crackdown on tech stocks is having a big impact. a check now on the markets as the dow tries for a seven-day win streak we will tell you what is moving and why. we will look at how today's call between freb and vladimir putin could impact the energy markets. remember, gnat gas has come way down as russia is pumping remo and more to europe we'll be right back. ♪ ♪

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welcome back, everybody. 90 minutes in the second to last -- i think that makes it the pen ultimate trading day of the year let's get caught up on stocks, bonds, commodities, and the russia risk, why the geopolitical hot spot could impact the energy markets. let's start with bob pisani as the markets try to close out the year with this hot little green streak. love it when you say penultimate. it sounds cool when you speak latin. i love that.

the important thing is, folks -- she's right. the important is that we have got a steadily moving market that's going up. two to one advancing to declining stocks. in the last two weeks it looks choppy but there is a shod to the maddance one of the themes this year has been thematic tech kathy wods stuff was all over the place. much more stable, all of her funds, including they are slabship, ark innovation much more stable clean energy, big theme this year solar, cloud computing, for example. you are seeing some examples here much more stable in the last couple of weeks. that's a good sign we have told you about the consumer, the strength of the consumer and the consumer, the new high list is littered with consumer names, coca-cola, pepsi, o'reilly automotive, for example, sherwin-williams. these have been on the new high

list every single day. but there are other examples out there. we don't talk about reits that must but the apartment reits are hitting new highs. storage reits. anything associated with storage at all people need lots of new places to put their stuff they are all going through the roof, hitting new highs. this is the other group hitting new highs. a third group, cyclical sectors, industrial stocks, railroads have been hitting new highs recently, norfolk southern for example. we are seeing new highs in big global industrial names. i follow cops like dover and trex tron, i know it sounds boring folks but they are all over the world they put stuff in all the buildings all around the world, kelly, and the important thing is, they know what's going on in global supply and demand demand has been huge that's why the industrials are hitting new highs. that's a good sign for 2022, and the global economy back to you. >> maybe we could see musk may see a recession but the

industrials are saying not so much yet bob thank you. let's flip over to the bond market, ten-year around 1.5% rick santelli has the latest >> you know,cally, it's interesting because we come in this morning and we see that continuing claims basically the last street of the year, 1 w $716,000, right in the middle the prequid range for 2020 -- precovid range pour 2020. look at the intraday chart between twos and tens. the moral of the story is, just like the entire year, treasuries are having a hard time staying up in yield, down if price if you open the chart up to january of 2012. let's go back nine years it isn't just 2% this year we can't got above for the last couple of years, we have hardly been above 3% in the last nine years. the hangover from the credit

crisis that we were still experiencing when we came into this crisis. if we look at the dollar many it is a bright spot it closed a whisker under 90 at the end of last year that means it is up a whisk kerr less than 7% if issue is, if you go back to precovid, as this chart shows, february of 2020, we are well below those levels on the dollar index. back to you. >> rick, thank you very much now let's get a little geopolitical oil is closing slightly higher on the session opinion 'stevens has more over on the commodity desk. love the playser. >> yes oil reversed early losses today. now in the green for a seventh straight session the longest winning streak since february with one trading day left this year, wti is on track for its best year since 2009 brent crude up 52% on the year,

the best since 2016. trading volume is thin this week but all eyes are on next week's meeting between opec and its allies where we will get a update on the group's february production plans nat gas. the monster rally we had through the early fall petered out the contract is down today but up 40% for the year. check out european natural gas futures. down sharply from their record 180 euros hit earlier in december it's now at around 90 euros amid warmer temperatures. and lng supplies redirected from asia to europe for the year, still up 350%. >> i view it as a proxy for russia's political power given point. pippa, thank you very much. let's get more on the call this afternoon between pezs biden and putin and how russia a geopolitical hot spot could potentially impact the energy markets. dan yergen joins us.

what should we expect with this afternoon's phone call >> i think putin wants to put his objectives on the table. of course it is a predecessor to three meetings that will take place, three negotiations, in january. it's still a very -- it is basically still described as a crisis situation i was just -- preparing for this, i was rereading ing vladir putin's essay where he talks about how ukraine is being used as a springboard against russia. so this has been an obsession with him about wanting ukraine not to go into a western orbit, but to stay in his orbit that is -- all the objectives he has put on the table recently, that is the most important from his point of few. >> you mentioned there are other calls, january 10th, time to smooth this out. but how do you see this impacting energy markets

right now natural gas prices are projected to go down in 2022 >> i don't think the specific phone call will change things. but there is an underlying component enabout natural gas, what russia does and doesn't supply to europe as just reported you have the u.s. lng going to russia russia is also the world's second largest oil producer. any kind of disruption there, tension there, could affect flows, too still as we can see in the oil prices today it is a tight market. >> dan, it is kelly again. how should we think about the relationship between energy and the geopolitics of russia's move on ukraine are they related if so, what's the cause and effect, or what relationship would you describe >> i think any time you are talking about russia, ukraine, europe, and natural gas, they are all tied together. obviously, one of the big things

that russia wants to do, why they want that whole north stream two pipeline is so they can send less gas to ukraine and be less dependent upon ukraine that looms very large. you know, russia, as putin said, russia is not an energy super power, but it is everything that russia does in terms of geopolitics, there is a strong energy connection that's how important it is he's sending -- he is europe's major supplier of gas, oil, and of coal. so much of the whole tension comes down do this question, what is the future of ukraine? is it going the orient west? or is it going to be back in the russian sphere, which is basic leecally what putin wants. >> if russia were to make a move on ukraine, i would have to imagine germany would back off on the north stream two project.

there is no way -- it seems unfathomable that russia could make an aggressive move on ukraine and germany and europe would move ahead on the north stream two. >> it is finished. but the germans are holding it up on regulatory grounds we have a new government in germany, which is more anti-russian and i think has made clear that if there are other problems, you know, with ukraine, that one of the consequences is that that pipeline will not operate. then the question is what consequences happen after that but it is -- it is one of the things there and russia is -- you know, it's very tight with all of this and the question of the role of russian gas in europe. >> yeah. and, again, if prices were still where they were maybe a month ago it could be an even different conversation dan thank you for your time today. a pleasure. >> happy new year. >> you do, dan. >> a whole lot more coming up on

"power lunch." sorry to cut you off while the networks may bring you the top plays of the year, the top songs. this is cnbc, after the break we will talk about the best ceos of 2021 and talking about some ceos who may not be ceos at this time next year. and why many retailers are telling consumers, just epke it when they go on line to return something. "power lunch" is going to be right back

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welcome back to "power lunch. this year has been a challenging one for many ceos to navigate as covid-19 rages and many companies remain mostly remote weez get. >> referee: to close out 2021, which ceo right side the biggest winners and which are on the hot seat for the new year. jeff sonnenfeld is here to tell us his picks hey, jeff. >> good to see you thanks for letting me join you this afternoon to talk about some good guys and maybe not so good guys. >> let's start off with the good guys its holiday season let's start off with the good ones three ceos, the ceos of pfizer, honeywell, and a third ceo, the ceo of gm, that's the one i

found particularly interesting why is that one of your picks for top ceos >> i am glad that you asked me to defend mary barra, because honeywell has had a choppier year in terms of their performance. honeywell has done a lot on the covid front, on sustainable. mary has delivered amazing results. i think her to be is up 40% or so for the year. beyond the stock returns, she's taking this, you know, 150-year-old company and spun it around -- 130 years, whatever, and managed to do amazing things, by taking them into the ev business. instead of the bravado of elon musk -- i agree with the earlier discussion you had that maybe some of the musk estes la recall might not be so dramatic although it is one out of four that are recalling right now, it is not a major problem mary barra has had some recalls but, boy, they have gone very well with their movement into ev

of course especially with the gm -- with the gmc hummer ev, but the lyric for the cadillac, for delivery trucks, for silverado truck coming out for chevy and a lot of things, they are also doing this with their own battery. not many people appreciate the fact that she's been doing this with a lot of their own semiconductors they have managed supply chain extraordinarily well, at least as well as anybody, if not better than others in the industry on top of that -- are incredible we would be celebrating her for what they did to pivot, to protective masks and gowns and ventilators for the government, it was incredible. now she steps into the business round table role with all of her free time, a generous act. >> pivoting and transformation seems to be you aret focus for

your top picks you mentioned honey well, pfizer with the vaccine honeywell has transformed into a new age company focused on sustainable. why are you impressed with their transformation in particular they are not the only company that made moves similar to this? >> no, you mentioned pfizer, it is up 60%, everybody knows about the vaccine and how well it is doing. not everybody knows the pfizer vaccine is the only one from ages 5 and up. moderna doesn't have that. and bower la takes this drug to somewhere around 150 countries, almost as many countries as the united nations recognizes, that drug is there. and they are giving away basically -- giving away the license for the manufacturing of the only anti-viral drug proved to be 85% effective.

vaccines and an anti-viral drug, and a holocaust survivor on top of it. it is incredibli but honeywell have been beaten down and reformulated. the stock would be higher if it present for their exposure to the airline industry as people were pounding their chests on esg and all the institutional investors telling you what they care about, zero carbon, car been neutral debating the angels on the end of the pin, he has been doing something. taking chlorofluorocarbons out of the air taking out 85% of pollutants is remarkable on every part of the sustainability story, they are involved in a big way. >> jeff, let me interrupt you for a second -- i hate to cut you off but we want to make sure we get to the ceos on the hot

seat three them ceo of robinson, facebook, and act vision i want to stat off with robinson isn't it early for him to be on the hot seat >> no. some viewers might say how can i ignore apple reaching a trillion dollar valuation it is a great story. they deserve to be runners up. and cornell with target has been an incredible story, up 30%. what they have done in multichannels and all their lines. vlad, my gosh, there you have it -- they represent themselves to be liberator, the democratization of wall street what bunk. the truth is, this is a scam the pay for order flow is not giving investors the best price. no they are not paying a commission but in fact you have high frequency traders bailing out this company pumping them up when they were in distress

because they are on both sides of the equation. that's what keeps this company going. and the payment for order flow means when you put in your order it gets put on a shelf and somebody jumps ahead, it is sort of a two step -- you could say it is equivalent to front running because they are going to trade on what you get before you exercise it. you are not getting the best execution. that's the problem plus the stock was $85 a few months ago, now it is $17 a share. that's poor performance. >> it is definitely down from the ipo price, jeff. jeff, we have to leave it there. i don't know about hate mail, but people are going to have twitter comments and reddit comments after those comments. appreciate you being here. 2021 will still go down as a great year for bitcoin it is up more than 60% since january. but december it is down 15%. what are the charts telling us about where bitcoin will go in 2022

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welcome back to "power lunch. it's been a dreadful december for some very closely names though many are higher today

look at docusign this month. jove stock down. robinhood off by 29% and plug power, an ev name, down 26%. kelly? >> bitcoin is also having a rough month down 17% today flipping between gains and losses as it tests a key technical level. let's bring in keatie stockton. what do you see? >> we have a first short term counter trend buy signal and right around that early november high we had a sell signal based on the same model from one of the demark indicators and the nature of the signal is that it's generated into the downdrafts. there is support for bitcoin around 44,000 and above that level. signal would be made higher

conviction near that support and also confirmed by little turn around in momentum we don't yet have that but could happen in the coming days ahead so that's something we're watching for to affirm this reading from bitcoin. >> was bitcoin ever in the charts looking to you like it could hit 100k this year when it had the strength this year did it look like that would be hard to sustain >> for me i was watching the final resistance just shy of 65,000 and what we wanted to see to arrive at that higher price target is a confirmed breakout above that level i think there's hope to see that confirmed next year some stage it is not a near term concern at that level but seeing that happen you can arrive at a projection about 90,000 for

bitcoin upon that confirmed breakout to new highs. >> if we go -- just to make sure i recapitulate this correctly today it might be a signal of strength if it went above the old highs at 66 then you look to 90? >> that's right. breakouts tend to foster positive momentum and that's what we would look for and be assuming that the trajectory of the long term trend to project higher a breakout does tend to generate momentum but of course between here and there there's a lot of room and a lot of upside we have an overconviction. last time we saw this signal on the buy side was right around the june low when bitcoin in the low 30,000 range and does sort of make us perk up and look for that short term momentum

the signals are infrequent and will have to take it as it comes for momentum as it pertains to the final resistance which is a strong level having repelled the last up movement in december. >> you mentioned ether and leave it there with a comment on those charts. >> ether doesn't share the same signal but tend to maintain a positive correlation and ether has a letter long term setup because it con foirmed the breakout to a new all-time high. >> 3762 closing out the year thank you for your time. >> happy new year. >> you, too. frank? etailers tell the customer keep that unwanted product you try to return. we'll tell you what they have to gain by refusing the returns

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if you thought the busy time for retailers was over you are wrong. the week after christmas means returns a whole lot of them. increasingly more companies say keep it. courtney reagan explains why this can be better for the retailers. >> items bought online have

three to five times the return rate there's $114 billion worth of goods to be returned following the holidays and 40% is online returns. once a customer initiates a return algorithms determine what a retailer does next sometimes they refund the cost and tell them to keep it returnless refunds will total 4.4 billion this year. walmart said the decision considers the value, supply chain costs, sustainability and most importantly what will lead to the best possible customer experience here's an example of different return decisions say a shopper paid $40 for dog food and $700 for a dining room table. 20% profit margin for dog food and $10 for the table. when they want to return both

the cost of shipping, processing restocking, resale and leads to a loss for dog food of either choice but still a positive mar jib for the table so the shopper is told to keep the dog food but returnthe table. >> i had this happen to me and all seems nice but if i return something i didn't want it so how much could they get if i keep something that i don't want >> that's a really interesting and good point and happy returns said 84% of customers -- the return makes or breaks the experience the ceo of optoro said he's worried about that because 6 billion pounds of returned items end up in a landfill and thinks this keep it phenomenon adds to

the problem. >> yeah. that returns also creates greenhouse gases great report thank you. it's a boon for the buy nothing facebook groups. the producer got a bathrobe he didn't order and gave to a friend thank you for hosting with you. >> always a pleasure. >> "closing bell" starts now and sara is right over there. >> good to see you welcome to "closing bell." i'm sara eisen more green on the screen as we approach the end of 2021 >> why didn't you come here? i'm wilfred frost from new york stock exchange let's have a look at what's driving -- crossing a whole n river. nasdaq is out performing today a number of recent laggards seeing strengt