all and specifically i want to point out a cnn anchor katie: baldwin who had an embroidered sweater, i agree with the sentiment but i would say just make sure your network covers the facts. charles: we got to leave it there. winners and losers, the market, it's neither one today but liz claman, it has been a hell of a winner for the year, particularly ipo's this week. >> liz: indeed, doordash, airbnb, listens queue tom petty right? pfizer, state governors, hospital administrators, americans all across the country waiting for the fda to give that green light for emergency use of the coronavirus vaccine. the new york times now reporting it could come as early as tonight. the critical innoculation cannot arrive soon enough for the restaurant industry which just in the last couple of

hours got another kick to the gut. we've got every angle covered we're live at the pfizer where they're ready to ship the live saving shot and cameron mitchell whose ocean prime restaurant has locations in new york, philly and beverly hills how is he going to survive if he's losing $1 million to $2 million per month. markets are in a defense ever crunch if the senate passes a short-term bill to avert a government shutdown bill but that's good news as all three major indices head for weekly losses we do have the mixed picture with the dow clinging to 24 points of gain, and what's a legendary media mogul doing taking a math production parts manufacturer public and leo henry, oh, you know him, from a whole bunch of different networks including the yes network. he joins us with the ceo of desk top metal that just went

public and both are here, what do they do and why is this the company leo chose to put his millions behind? let's get to this breaking news the food and drug administration has just lit a fire under the process to approve that emergency use authorization of pfizer's covid-19 vaccine, and now that green light could come not tomorrow, as it was expected , but tonight. at this hour, an army of drivers and pilots from the nation's two biggest names in the shipping business are standing at the ready. fedex calling it the biggest mission in the company's history , and ups says they're ready as well. >> the destination location our sort facilities or our hub facilities the drivers will know exactly they're moving the vaccine so it's a priority for them. they will put those packages on their trucks first, and the others will follow. >> liz: that's wesley wheeler of ups. the minute the approval comes through the nation's attention

will pivot to getting the vaccine on to those trucks and planes. senior correspondent mike tobin of fox news is standing by outside pfizer's gigantic manufacturing plant in kalamazoo, michigan, mike, tell us what's going on. >> well i can tell you if that emergency use authorization if that final hurdle is cleared tonight, if it's cleared tomorrow, millions of doses can start rolling out of this massive facility in kalamazoo, michigan there's another one in wisconsin but they can start moving and shipping within 24 hours. health and human services secretary alex azar said on the fox business channel, that means needles could start going into arms as early as monday or tuesday. 2.9 million doses can move right away. half of the supply needs to stay because the pfizer vaccine requires a second shot, roughly three weeks after the first one. trials show the vaccine was 50% effective with one shot, 95% effective with that second dose, so the message is that this isn't over, but there is a light at the end of the tunnel.

>> in terms of general vaccination what i've said is i think it's quite realistic by the end of february into march our governors will start doing more general vaccination efforts where you're really going to your kroger or cvs, walgreens and getting your covid vaccine very much like you get your flu vaccine. we believe that in the second quarter, we'll have enough vaccine for every american who wants to get vaccinated. >> now the vaccine is very temperature-sensitive so as it's shipped its got to be kept at almost negative 100 degrees fahrenheit. among other things it created a run on dry ice and created a very sophisticated cold storage supply chain, if you will. also, the shipments need to be equipped with a gps thermal sensor that will tell a tower not only the location of the shipment but the quality of that shipment. liz? >> liz: mike tobin, thank you very much we can see mixed picture for refrigeration

regulation stocks fedex moving higher right now with less than an hour left to trade it's really impossible to avoid the anxiety stemming not just from the wait on the vaccine but congress. congress is still at an impasse on the $900 billion covid relief package and not to throw another ball in the air for you, the investor to juggle, but word is brexit negotiations for the uk to leave the european union, those negotiations could collapse this weekend which could be ugly for monday's trading session. to our floor show traders okay, guys. are we going into the weekend long or short, phil? >> i be long stocks but protected with options right now because i think the stock market is going to rally regardless, but i'll tell you this. i mean, when i get really concerned when i hear reports that the uk is going to be sending ships out to protect fishing rights out of the ocean. i mean, we've been, you know, fighting over fishing rights probably since the american revolution and this breakdown is

very much a concern. the british pound could really take a big hit. i think that precious metals could go up. i think to be safe i'd like to be on the treasury bonds as well because that would give you a little bit of a hedge against, you know, a breakup of that or some uncertainty but make no mistake about it the kicking the can down the road on stimulus, we've been through that a lot. i think if it doesn't pass, the same stocks have been getting hurt because it hasn't passed and because of covid are still the ones that get hurt. i think your restaurant stocks, travel and leisure are going to do bad, but then on the other hand, healthcare stocks are obviously going to do good. you mentioned fedex that's going to be going, united healthcare, walgreens, all those companies are going to do well because they don't need the stimulus money they are getting from the covid vaccine bounce. >> liz: yeah, i know. you know, we're looking at travel and leisure and we cannot forget airbnb, tim anderson, airbnb having gone public yesterday it is pulling back

about 4.5% but let's keep in mind it more than doubled yesterday on this amazing open, so as we talk about names like that, is there anything that you're buying today, going long into the weekend and then selling to go short? >> well, look. i think that the santa claus rally came a little bit early this year, and that being said, you always have a lot of cross currents in the market in december. it's going to be even more exacerbated between now and the end of the year, and i think that vaccine effect is going to outweigh any uncertainty or potential disappointment over stimulus or lack of a stimulus, and i might even take the other side of phil's argument on the travel, leisure, entertainment, casino, cruise stocks.

sure, a lot of covid testing numbers have spiked a lot in the last few weeks and we've got some shutdowns either happening or looming in a number of states, but if you get one more sell-off because of that in the airlines, hotels, resort stocks, i think that that's going to be your buying opportunity in that sector, because the vaccine effect will out weigh the shutdown effect. >> right, i think it will, but the other thing is that if you don't get that stimulus money through, not a lot of people will have money to have travel and leisure right? i think you'll lose a lot more businesses. a lot of business that they don't get that money, so i absolutely agree with you, big picture if you get a drop in travel and leisure with the vaccine on the horizon, definitely buy but over this weekend, it might be the other way. >> liz: phil, be still my heart you're back at the cme, i am thrilled to see you with that

back drop, thank you so much. >> thank you. >> liz: is that fake or real? >> i'm not authorized to tell you. >> liz: [laughter] >> it's top secret. >> liz: that's good. >> there you go. >> liz: that is good. >> thank you. >> liz: i thought for sure, tim, the bar is high here, get something behind you. tim anderson, phil flynn, fox business alert the dow we should tell you would look a lot worse if it weren't for disney at this hour. it is the highest-flying stock in the galaxy right now. look at the jump that disney is having. 13.6% not even the highs of the session as the mandelorian and baby yoda, the mouse house throwing the doors open to a slew of new content for disney plus including 20 new star wars and marvel-based series which brings us to disney in the battle for streaming superiority. netflix at the moment, you can see netflix is down just a fraction, let's call that flat. warner brothers, and hbo , max

parent, at&t along with peacock and universal parent cox cast both have made major waves shattering the traditional theatrical exclusivity window by simultaneously releasing new movies on their digital platform s and disney though still not ready to give up on giving the box office a head start though. scarlet johanssen's black widow set for theatrical release on may 7 without a simultaneous digital release on disney plus. big screen stocks are mixed at the moment with only cinemark moving higher. no zen for athleisure sector after lulu lemon warned of a slow down in fourth quarter online sales twisting its fill low yoga and exercise wear maker s into knots we do have lul u down 6.5%, under armour down 6.2% and gap is falling 3.5%.

from fitness to fat, investors are binging on fat burger and johnny rocket's parent fat brand s. got to be the best ticker symbol of all, right? fat? the restaurant group declaring a special dividend after announcing plans to merge with controlling shareholder fog cutter capital. the deal, giving fat, more financial flexibility to fight its rivals in the fast food wars all right fat brand having a big day obviously, but restaurants around the u.s. feeling the heat from new covid closure orders that have broken in just the last couple of hours. the man who owns restaurants across the country, including ocean prime in beverly hills and he also owns those in the latest states to close their doors on indoor dining. new york and pennsylvania. how will cameron mitchell of ocean prime survive another covid-19 freeze out? with the closing bell ringing in 49 minutes, and the dow turning negative just barely but still

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>> liz: breaking this afternoon, governor andrew cuomo says its got to happen. he's now ordering new york city restaurants to shutdown all in door dining. this starts monday. pennsylvania's governor announcing a three-week business shutdown that includes christmas starting at 12:01 a.m. saturday morning. governor wolf, who by the way tested positive for covid on tuesday, call the situation dire when announcing the closure of a range of businesses, not just the indoor dining but bars, theaters, casinos and fitness centers. beverly hills tried really hard to fight the ban on forget indoor, outdoor dining, but its hail mary to the courts went bust after the judge they took it to said yes. la county closure of outdoor dining was an abuse of power overreach, but the county health department ordered superceded his own judicial power and to cameron mitchell who owns

restaurants in all three cities, beverly hills, new york, and philly, under his cameron mitchell restaurants umbrella including ocean prime, cameron let's get to the breaking news new york ban indoor dining starts money that broke this afternoon what was your reaction when you heard the announcement? >> well, honestly, liz, we expected it with governor cuomo 's comments earlier last week, so we were preparing for it. we do have a outdoor tent there that's heated that will help, but, you know, it doesn't replace and 25% indoor dining wasn't enough anyway. we're limping along there at 25- 30% of our normal sales, so it's just in sullivan to injury and insult to the open wound. >> liz: yeah, i know it's awful but let me then take it to beverly hills. beverly hills couldn't indoor dine but you did have an operation at least on the sidewalk am i correct? and you were able to have outdoor dining and then suddenly

, that situation had water thrown on it. they were told, you know, close the outdoor dining. have you followed the beverly hills legal case because they did take it to that judge who said you guys are right. this is overreach. what went through your mind when he got shot down? >> well i was hopeful for that case, and it was obviously in our favor, but the same time as you stated earlier, the health department supercedes it so it was really all for not, but you know, that was a difficult case too. we had 130 seats on our patio and we were doing fairly well out there and that just got cutoff, so today, out of our 55 restaurants across the country we have 11 shutdown, a little over 20% of our business shutdown. chicago, as you mentioned philadelphia, detroit, we have five restaurants in detroit closed and it's just becoming un

tenable for us and then dealing with covid within the workforce and the fears of our guests and the closedowns and we're going to do under 50% of what we did last december, we'll probably be 40-45% of last december sales company-wide and it's simply an untenable situation where losing quite a bit of money every month and december, unfortunately, is also, you know , one of our best months of the year where a lot of restauranteurs around the country make a lot of profit for the year and we're fortunate because we have restaurants around the country where a lot of my brethren are not. i have good friends in chicago that all their restaurants are in chicago and are completely shutdown without any government help, no ppp, no unemployment for our workers. we laid off 700 of our 3,500 employees a week before thanksgiving to no government benefits and it's just horrible what's going on within congress

today and the stimulus and the relief. if we go much longer, you know, i don't have any restaurants, i think it's 110,000 restaurants have closed permanently thus far , and many many more hanging on by a thread. >> liz: it's a disgrace that they haven't passed something. it's very upsetting. you know, you mentioned chicago. we actually have cameras today at moe's cantina, which had to be shuttered and we showed video because we thought it was an extraordinarily important story to tell, and as you talk to your friends in chicago, they've actually turned at moe's cantina, the empty restaurant into a testing site and that's what we're seeing on our screen right there. do you really project that far forward for your company and say , you know, if i have to shut ter some of these restaurants i'm okay with opening them for mixed use of storage, who knows what else? >> we would consider that for sure, but you know, we're so

fortunate in america with the new vaccines coming out, the 95% efficacy and i honestly believe we'll get beyond this or start to have covid in our rear view mirror in march, april, may we just need to get from here to there and that's really the important thing for congress we're so close to the end of this , but yet the devastation right now is so real out there for so many businesses not just the restaurant businesses, the hotel business, anything in travel and leisure, and we just need the help. we need the bridge to get from here over the next four months and you know our people and let's look at our employees. the ones that are unemployed are hurting, but most of our hourly associates, if you're a 40 hour a week cook, you're maybe getting 20 hours a week now. if you're a five shift a week server you're maybe getting two or three so the underemployment is just as big an issue as the unemployment and that is the stimulus checks and the need for those throughout our country

>> liz: indeed. cameron mitchell, and i want our viewers to know something. cameron began 40 years ago as a dishwasher and started his own company with sweat equity and that's it. cameron, we are pulling for you and the whole team at cameron mitchell restaurants. please hang in there. thank you so much for joining us >> thank you so much, liz i appreciate the kind words. >> liz: your story is an important one to tell. i hope somebody in washington is listening. in the meantime, president-elect biden unveiling a brand new crop of picks for his cabinet at this hour, including a familiar name for agriculture secretary. what will this nominee do for american farmers after president trump's tariff wars with china left many of them plowed under. closing bell ringing in 38 minutes the dow getting a better grip here up 45 points at the moment, stay tuned, if you eat food and who doesn't, right? you need to hear the breaking news, next.

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>> liz: breaking news out of wilmington, former obama chief of staff dennis mcdunnough is speaking in wilmington, delaware after president-elect joe biden announced that mcdunnough will be his nominee for secretary of veteran's affairs but his agriculture secretary nominee already knows his way around the agriculture department, tom vilsack served in the obama administration in the same role. vilsack will have to deal with this , federal data show that some 580 farmers filed for chapter 12 bankruptcy protection during the 12-month period that ended june 30. that's an 8% jump from already- elevated numbers a year earlier. to hillary vaughn whose in wilmington, delaware with the breaking news, hillary? reporter: liz, president-elect joe biden admitted just a few moments ago that it took a little pesterring and a little

nagging to convince tom vilsack to return to his role as secretary of agriculture after he served there under the obama administration. >> tom helped expand markets around the world for american farmers, he improved our food safety standards and helped families receive healthy meals. he wasn't anxious to come back. he wasn't looking for this job, but i was persistent. reporter: former governor tom vilsack will once again head an agency that has had a hand in nearly every aspect of the nation's food production from farm-to-table with $153 billion budget in 2020, his job will regulate genetically- engineered seeds, insure farmer's crops, promote ag exports and also inspect slaughterhouses but thoughts on his previous tenure in the role are mixed. when he left the usda in 2017 net farm income was down 40 % from record highs just four

years earlier and today, farmers are more reliant on government payments to get through previous trade disruptions to their products so vilsack has signaled he wants different policies so that farmers are not relying on federal money but also could throw a wrench in the way farmer s farm, saying in september, climate change be a federal priority saying the usd a could choose to funnel federal money to farmers that adopt climate-friendly practices and the usda administers the national school lunch program and that could be a by that the biden administration sees favor with progressives to see limiting meat and dairy consumption as a way to slow down climate change and that would have a massive impact on dairy and cattle farmers who have lucrative contracts with school cafeterias to buy and serve meat and milk to their students. among biden's other picks announced today, katherine ty, she is a trade lawyer with a history of taking on china, but

in a different way and also the first woman of color that would serve in the post and speaks fluent mandarin, and she be replacing robert lighthizer and biden said nominating her signals a crackdown on china's unfair trade practices and he said that is going to be a priority under his administration, but he says the way ty will go about that will be a lot more strategic than the trump adminitration has liz? >> liz: oh, okay, but he does say that he is going to crackdown through katherine ty, she's speaking right now, hillary timing perfect thank you very much hillary vaughn. okay to the ski industry, which a year ago, was ravaged by covid shutdowns to ashley webster. i've got my ski pass to vail, ready to go and how is it doing? ashley: well thanks for the warning, liz i know you're a speed demon on the slope so i'll step aside. vail resorts tumbling into the close, this is not great

news, upbeat figures on currenc ies and past sales not enough though to warmup investors after the ski resort giant posted a wider-than- expected quarterly loss, revenue also missing estimates due to covid restrictions and closures its been a rough go. on the flip side, costco beating quarterly earnings, and revenue forecasts. the shoppers hit stores for groceries and other high- demand pandemic products, sales rising more than 15% at the wholesaler. social distancing efforts fueling the gaming sector mpd reporting a record $1.4 billion in spending on new consoles in november. video game sales also hitting a november high of 6.97 billion. total video game sales year-to-date now standing at $44.5 billion. a lot of people playing video games at home and the only thing this year bigger than the at- home entertainment movement?

spackapalooza, coming up the ceo of the latest company to go public via the market legend who made it all happen explains why investors shouldn't be ignoring the 3d future. we'll be right back. this is decision tech. find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. metastatic breast cancer is relentless, but i'm relentless too. because every day matters. and having more of them is possible with verzenio, the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopausal status. and it's the only one of its kind you can take every day. verzenio + fulvestrant is approved for women with hr+, her2- metastatic breast cancer whose disease has progressed after hormonal treatment. diarrhea is common, may be severe, or cause dehydration or infection.

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you've reminded us that no matter what, we can always find a way to bounce forward. so thank you, to our customers and to businesses everywhere, from all of us at comcast business. >> liz: well, amidst all of the frenzy of the airbnb ipo yesterday this happened 3d print ing company desktop metal went public on the new york stock exchange and got to, there they are, ringing the bell right they've got to go public through a merger with a special acquisition company and desktop metal is the next generation maker of 3d printing machines which in essence if we explained it simply replace old school

processes like machining and casting, faster and more cheaply and in fact it is so good that b mw jump aboard as have 3m, google and a whole bunch of other names and joining us is the chairman and ceo, leo hindry jr. also managing partner and he joins us with desktop metal ceo. congratulations to you, both. leo i'll begin with you. >> thank you. >> liz: what was it about desktop metal because the last we spoke you said liz, i can't say who but i'm starting to widdle down the choices of who i want to take public through this spac. what was it about desktop metal? >> liz i've had a fun career in the media industry for a very long time and there were always three criteria to everything we did which is topline growth, barriers to competition sort of barriers to entry and superior management, and desktop metal really scores heavily, liz, on all three. it's just an exceptional management team as you've

described already. the growth profile going forward is second-to-none in my opinion and the company has about 120 patents protecting its position in the industry and so we found exactly what we used to find in the old media industry, the tmt world. we just found it with desktop metal. >> liz: yeah, well, it's interesting, because you are the guy who ran the work and you worked at at&t for many years and i think to myself, leo's going into manufacturing? but rick, there must have been something about you, your patent s and the company. just for our viewers edification, give us one of the coolest things that desktop metal can do right now. >> well really, it's a technology that contains many many industries from small electronics, automotives and we have customers doing incredible things for example,, and using the technology design nozzles for large ships that

dramatically improve the fuel efficiency and the environmental benefits that you can achieve by having lighter weight, more efficient systems is incredible, so there are maximum opportunities for this technology primarily in eliminating cooling and reducing the cost of parts and eliminating inventory so it's a fantastic technology. >> liz: well i guess in the past , and i've covered the 3d printing business quite extensively, a lot of it initially was done with plastic. this is metal. >> that's right. >> liz: when do you start to realize, hey, we can do this. we can make this actually happen whereas nobody had really done before. >> yeah, i mean, 3d printing has been around since the late 80s, early 90s but for the first 20-25 years of the technology, it was all about schooling and prototyping and i think what

we're bringing to the table is the ability to do this in a mass production environment, cost effectively, and cheaper and more efficient process than machining and casting and all the technologies like that and doing it at-scale so you can go to production with metal print ing. >> liz: leo obviously the past couple of days with doordash and airbnb have been absolutely amazing days for ipo's but this bumper crock of spacs, the special acquisition names, a couple have spiked not happening right now for desktop metal that i'm not so concerned about but aside from airbnb you look at these names where there appears to be exuberance in the spac world in the middle of a covid pandemic. you worry things are looking a little frothy at the moment? >> you know, i think quite the opposite, liz. i think the spac world showed there is really a correlation between the worth or value of

the company and the price in which it goes public. doordash is a great story, if you're one of the doordash shareholders. if you're doordash the company you left an awful lot of money on the table and the pricing of the asset and i think it was a sharp contrast drawn between spac and the real value and the ipo environment that we've lived with for several decades. >> liz: got a half a billion dollar market cap now for desktop metal. what's next? if you could tell us, ric, how do you scale up the company? >> there's actually close to 4 billion actually, 2.5 billion at the time -- >> liz: what am i looking at here? oh, okay, okay, i see. >> yeah, i'm sorry. so our deal was $10 a share with leo, that valued the company at 2.5 billion and today i think it's trading at 17, so

significantly up from our original deal, but we think that it's fantastic potential as the industry grows from 12 billion to 146 billion so it's a fast-growing industry that's been compounding for the past decade and turning it into a massive opportunity. >> liz: okay. >> less than .1% of parts are printed today and we think that we can go to significant numbers in the future. >> liz: leo, before we go, mets or yankees next year? you started the yes network. >> [laughter] i've got to tell you i'm optimistic for the mets when you put those kind of resources, liz , at play, they'll certainly do better than they played this year in the shortened season. >> liz: all right steve cohen getting the thumbs up. leo, ric good luck. if i was a young baseball player i'd go with steve cohen. >> liz: me too with the wallet that's a little bit bigger good to see you both and we'll be

watching desktop metal trading around $17 at a $4 billion market cap. biden vs. xi, you just heard hillary talking about the new trade representative. well now the street is strategizing on china as the president-elect readies to take on the trump adminitration's biggest economic target. charlie is breaking it, next. >> and hello, hanukkah. holiday season kicks off with the festival of lights. christmas just around the corner where better to look for beautiful holiday images, the likes of what you're seeing on the screen right now than on shutter stock. the image's platform now has more than 350 million photographs from which to choose boy has it come a long way since the founder started by running around the streets of new york with a little camera taking pictures himself and uploading them for one simple subscription fee. that is exactly what john orang er did in 2003 he's our guest on this week's everyone talks to liz podcast. he talks about how his

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like a slinky, total flop. does wall street want the u.s. to be tough or easier on china? now, that president-elect biden has just announced his new trade representative, let's get to charlie gasparino, because charlie, she apparently says and biden says this is going to be more strategic but tough. can you be both, what does that mean? charlie: it's a love affair, no am i kidding, [laughter] yeah. >> liz: [laughter] charlie: here, i mean, it's going to be a relative love affair compared to when it was under trump and now i'm getting this from my wall street sources and what was fascinating about the people at the big banks is that amid all the trade unrest and the sort of cold war between china and the u.s. over the last four years, chinese government has reached out to all the big banks and all the major wall street firms and there's been dialogue between the government and the firms about doing business in china, about keeping those relations open.

that dialogue resulted in pretty strong relations between the wall street firms and china and now that you've got a new administration in there what they're thinking is that the chinese, as a sort of gesture of goodwill is going to allow these u.s. companies that already have jb's in china to maybe fully-own the businesses, goldman sachs we saw that out of them this week, that they are going to make a move applying to fully own their jb with the chinese government. msnbc has morgan stanley has a j v, jpmorgan, all the big wall street firms and mutual funds have similar ventures in china, and they are all going to try to own them and they think there's a good chance, given this that they are likely between the biden administration and the chinese, that those jv's are fully-owned by u.s. companies and there's going to be much more of a business opportunity in china as opposed to what was going on during the

trump years. that said, they don't believe biden is basically going to give up on everything. it's going to be less of a hard edge. you know listen the country is united on a few things. one of the things they are united on or most people would say is that china represents a threat to the u.s. both economic ally, politically, they are the source of the coronavirus, so you go down the list. being anti-china is not exactly bad politics but the thing you'll see out of biden is less tweeting, less rhetorical attacks probably fewer tariffs is what my wall street firms, my wall street sorgums sources are saying not the overt hot tariff war that you got all of the time and again, there will be contra temps no doubt about it but it's a softer edge and they believe it's going to be better for their business and now listen i want everybody to know the viewers out there say i'm not advocating that we should be opening up to china and going back to normal. or going back to what it was pre-trump. i mean president trump pointed out and peter navarro and the

administration, a lot of things that china was doing wrong and everybody knows, they steal our stuff, particularly intellectual property, so i'm not advocating that what wall street is saying. i'm just giving you from the ground-level from a big business perspective, there's going to be increased business opportunities at the big banks at mutual funds opening up because they want access to that huge china market, and the harder the thawing is going to be at the administration level as well, and wall street will benefit from that. liz, back to you. >> liz: okay, i thought you were going to say let me be clear. you need to do this to make your lavtka's crispy but you're of no help. charlie: what type of music was that before? was that hanukkah music? >> liz: i don't know. it was like fake clesmer. i don't know what it was. somebody, not jewish, trying to add music. charlie: that was not your hanukkah music from my friends

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i'm proud to be part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. call now so you can... retire better >> liz: all right, welcome back. two sectors our countdown closer says have very strong headwinds heading into the winds of 2021, and if you were to look at say for example, with the closing bell ringing in four minutes, the markets look mixed but off the lows, for this , what third- to-last week of the year, the dow and the s&p 500 look to snap their two-week win streak, the nasdac of course is negative as well for the week, but again, back to this issue of what do you start buying at the end of the year? things that are cheaper now than they were, that certainly be the airlines let's bring in today's countdown closer chris

cicarelli, chief investment officer with 4.5 billion in assets under management but as soon as you want to buy something chris you got to make room in the portfolio by selling something else so let's tackle first what you say is the buy right now. >> so we think right now, there's a lot of compelling opportunities within the industrial sector as you mentioned there's the transports , there's air freight, those companies that will ship products from retailer s to the end-user, as well as the airlines to some extent when we expect leisure travel to bounce back probably in the second half of next year. >> liz: we've talked about how the airlines have come back but they're not all the way back. you can see from how they've done year-to-date that they are still definitely in the red, but we were just talking to our floor show traders and they said wait for one more sell-off. i mean, do you operate like that at your fund? do you wait for one more sell-off so you get them even

cheaper than they are right now? >> we typically don't. we don't try to time the market that perfectly. we think it's really difficult to know exactly when the last pullback will be, so we average into our positions. over time we slowly sell-off some of our winners and we buy some of those stocks that we're looking to build a position in. we feel that if you do it in pieces as opposed to waiting for that perfect time, you'll make sure that you'll never miss that last pullback in case it doesn't come. >> liz: and now, let's get to what you would sell to make some extra room for these airlines or some of the other areas that you like including regional banking. this one surprises me. you say the e-retailers. really? just as we are seeing sort of altered lockdowns in some form or another across the nation where people will have to turn to these e-tailers again, what's your thesis on that? >> so our thought process is, you know, these internet retailers have done really really well with great business models and have been very successful but their stocks are

very expensive and i wouldn't necessarily sell your entire position in part of the portfolio but i'd at least turn back on it for the parts of the portfolio that have done really really well it's good risk management to pair back a little bit on some of those winners put some of those funds to work especially if you're in an account which has deferred taxes or no taxes it's a great opportunity at the end of the year to rotate into some of these other themes that may work really well for next year so we think it's good risk management but to pair back not necessarily sell completely. >> liz: all right, we just got a couple more seconds, but as we are looking at a market that is either at or near highs, especially the small caps and the russel and the mid caps what do you see for the rest of the year and the beginning of 2021? >> i think you're going to see more of the same in december as you've seen so far. it's going to be a mixed tape and really depend on what happens with stimulus and as people look ahead to the georgia elections at the beginning of january. the markets really looking for direction here. we've had a great year, we could go a lot higher next year but that really depends on what types of catalyst we get and i

think the market is somewhat range-bound until we get some of that knowledge before we can move forward. >> bell ringing] >> liz: good advice, chris, thank you very much we are still waiting on the fda to give that approval for the emergency use authorization, and that could come at any moment. stay tuned, but for now, it's a mixed picture on this friday. connell: we're waiting on that final approval to come from the fda it's expected a green light the emergency use of pfizer's covid-19 vaccine, could happen certainly within a matter of hours if it does happen we'll tell you right as soon as it comes out now the lack of stimulus seemed to hit stocks today. we'll off the lows as we close things out though the s&p and nasdac are firmly in the red the s&p down about 4.5, the nasdac 28 and the dow though closes above 30,000, and racing earlier losses in the process to finish up by 47 points and that's all disney, the company leading the dow big time in fact disney was responsible for about 135 dow points to the