santoli, cnbc senior market commentator david milpass, the global economic outlook, on this close hightowerd the names hit hard yesterday on inflation concerns and raising rights so which is it? the market that's scared of inflation orb not? >> the market changes the mind every day. nvidia is the one to me that captures by far the biggest influence today. it's just a momentum favorite. there's been no let up in that game of just like gunning the call options and playing for short term gains in names like that you can say you buy the dip. microsoft to me is the one that trades the most bond like of all of them seeming so predictable so look. without treasuries here it is like you don't have a quorum. >> the dollar is higher. >> and the commodity related stocks are higher. >> steph, are you reembracing any reopening sectors as travel is per mitted once again >> yeah. i own a whole bunch actually of the reopen names and been adding to them. after i heard several companies speak on cnbc about improving demand we have learned in the last week ual saw 100% load factors last weekend with the ban b

let's find out from michael farr chief market strategist at hightower advisers and a cnbc contributor. good to see you from afar. we have roads and bridges, social spending bill there what everyone thinks of these politically, forget that, will $1 trillion of invented new made up money going into the markets for the ten year propel us to new records or is inflation going to tear the whole thing down >> good morning, brian in london and from early here in the united states. i think you're on -- right you framed it properly we've got more money going if in we have an inflation problem we have markets making new highs and the markets are still a little less expensive than they were a year ago on a price to earnings basis but we're shoving more money in the market there's a lot of liquidity in the system the consumer has a lot of money. you'll see one of the best holiday spending seasons in years. consumers have cash. so prices moving higher, everything now in my opinion, depends on what the fed does will they hold back too long i fear they will i fear they're not being aggressive enough

stephanie link from hightower is still with us.a record high for the s&p and the nasdaq despite what you mentioned, some concerns about rising covid numbers, especially in germany where we saw a record numbers and could see restrirnctions and the inflation boogie man are you surprised to see the resilience of this market? >> i'm not because of the liquidity there's so much sloshing around. by the way, you have better growth in the economy, reaccelerating leading to better earnings valuations are not so extended low interest rates is favorable for corporations and consumers clearly they're spending we can argue about gross margins on the retailers but the demand off the charts across the board. target and walmart did a good job and margins disappointed tjx phenomenal see what happens at ross this afternoon. then the children's place out of the blue with a 16 comp so so many good things in retail this week and the consumer and why i come back and i say i don't want to just be stores. i want to be also in reopen, as well experiences.

the "closing bell" market zone, cnbc senior markets commentator mike santoli is here and we have hightowernager stephanie link back. we'll kick it off with the broader market dow and s&p is rallying. janet yelling joining this hour weighing in on the president's decision she also gave the take on the economic recovery and the rising inflation concerns listen. >> i think we do have to be concerned about inflation. it's reached the level that concerns most americans who are seeing it in their pocketbook when they go to the store to buy food or to fill up their carrs at the pump. i think it's partly a reflection of the fact that the pandemic has had a severe influence in our economy and it's part of the demand supply imbalance in getting on track but the administration, the white house is doing everything we can to address supply chain bottlenecks that are boosting prices and over the longer run the fed needs to play an important role to make sure that this doesn't become endemic >> describing inflation as endemic. we were describing covid-19 that way. she is a little more inflation concerned

. >>> in the meantime let's bring in stephanie link hightower chief investment strategist, shareholderf jan&j thanks for calling in. how are you? >> i'm good how you? >> i'm great how are you feeling about the news >> i'm thrilled. it's the year of the split, the way i view it. a lot of names doing great things trying to create shareholder value. to put it in perspective, the pharmaceutical business, organic growth grew almost 14%, the medical device grew total revenues about 7% and, of course, the consumer, the slower growing business 4%. you can see why they want to really figure out how to create value for these other faster growing businesses within health care the pipeline in pharmaceutical is enormous. they've done a great job at building that and not getting credit for it, quite frankly i think this is terrific news. the stock has really lagged. other health care names, it's also lagged the market year-to-date and by the way, it's fairly attractive in terms of valuation at 17 times and you get a 2.6 dividend yield as well >> they use the words and they are in the press release t