Were happy about. Congratulations for that lets go to the wall and check out where we stand as we set the table for our friday conversation 29,367 for the dow thats 1 . 2 8. S p is just shy of that and the nasdaq is having a pretty good day as are the small caps. Liz young, lets set the investing landscape if we could for our debate youve got virus cases soaring but very promising vaccine news on a number of different front you got the president not conceding but you got biden winning arizona, which gives some more certainty to the transition period, despite the noise and the noise makers, if you will youve got so much pentup demand on the other side of the virus. You know thats going to be the case then you have this battle between value and growth as you all try and figure out where to place your bets for the months ahead. What do we do with all of that what do we do with all that we start with thinking about the time frame its true that through the end of the year, maybe into january, early february, were going to have some tough headlines, virus headlines that will give us bad news here and there. I dont want to discount that. But the market now can look out further. And starting in august, september and even through october, we couldnt look out that far because we were so obsessed with what was happening every day and every week now we have a path forward we have a light at the end of the tunnel and companies can start to look forward and actually give us some guidance on whats going to happen into 2021 i think theres a lot to look forward to here and i dont want investors to miss that this is a good time to start putting money to work. Dont try to chase it, dont try to time it but on the other side of this i think that value and growth battle as much as i am tired of talking about it, i do think its something thats going to take shape and the economy will starting to led by more of the garden variety recovery story, which happens to be a lot of those value names. Its been tiring talking about it but it is where the debate currently lies you could see it this week, the pushpull of the market. The market has been able to look through a lot of the stuff i mentioned and you are, too, by virtue of the facts that you keep buying cyclical stocks. I do. But i do have a little bit of a balance, too but this week has been a doozy in factor rotation as you mentioned, weve been having the debate between better vaccine news, more clarity on the election and i would argue i feel better about a mixed congress than whatever president is in office quite frankly because its gridlock and as an investor you have gridlock and then you have coronavirus. Ie gridlocks it works if we focus on the coronavirus, it doesnt and you have to have balance. I am watching the co individuvi but if it gets materially worse i dont know how much worse it needs to get. You got 155,000 cases a day. I mean, what do we want . 200 . Can i get 225 . Can i get 250 . Can i get 300 . That is apparently where we are heading in terps of the virus cases. There is no, it seems, hope in the near term anyway for stimulus well, youre right because congress is a mess right now but if if gets a lot worse, theres more pressure on them. In the meantime, and i said this earlier this week, i believe were in a better place in terms of knowing about this virus, about treatments, about tests, about contact tracing, about mask wearing and if that works so i think were better able to handle higher case, even though its a tragedy so what im looking at, yeah, im buying some cyclicals on bad days because im willing to look six to eight months down the road the market is a forward looking indicator. By the way, j and j has an Analyst Meeting next week. Ill bet we hear on progress of their initiatives. I think eyoure right the reason were able to look past the horrible news on the virus is because of the news we got this week. Imagine if we were just talking about 155,000 cases and deaths creeping up and hospitalization records and if you want to talk about two maps, you put up the electoral map and where the cases are exploding around this country map, thats where the conversation really needs to be. The reason why the market can get past it is because the vaccine news that we got this week has stocks up in the face of horrifying virus numbers. And your buys reflect the markets thinking. You bought marriott. You got it. You got it and for me, scott, i mean, as we watched the marketing yoyoing back and forth the last couple of weeks, its really spoken to Asset Allocation and making sure youre taking a tactical approach weve been highly levered on the technology and discretionary side, the efficacy news from the pfizer trial on monday was fantastic. Its important to look at some of these epicenter names the story Going Forward in 2021 wont be like it was this year thankfully but i think it will be an earning story rather than the multiple expansion that weve seen this year all right, my hats off to folks brave enough to step into marriott i was not one of those thats because it was at the high end of the range, scott and both jenny loved that epicenter stocks yesterday and cisco and now we have another endorsement of it. I guess i should have jumped on those. I think the epicenter stocks do well, scott, if you want alpha right now. Thats where you go. I can show you another area as far as evs, these electronic vehicles, whether theyre Autonomous Vehicles produced in china, whether theyre evs and theres so many, i mean, lee, neo, xpev, these are all names i have accumulated over the last several days and weeks and theyre exploding to the up side expv xpev, im sorry, too many symbols, scott. But those and fisker, this is where a lot of folks are finding alpha. You can tell there are institutions in there by the volume li is up ten times normal threemonth volume, scott. That speaks volumes to me and to pete when we see institutions piling into things like that so a lot of these have run think theyve got a lot more runway thats one of the areas id be looking for alpha. The other is right there at the epicenter stocks i think those are fantastic areas to get it, as well as you do it in the right way a little prudent, i would be doing it in call spreads thats what ive done, scott shannon, speaking of the epicenter and right in the heart of the bulls eye, if you will, is disney, right disney has its earnings. The street is rewarding it big time today you own the stock. Its one of the leaders in the s p 500 today. Earlier it was up better than 4 tell me about this its all about streaming when the stocks up 2 , it was north of 140 earlier today i want to talk about some of commentary thats out around it that sets up a pretty good debate so if we were talking about this in november of 2019, scott, wed be over the moon about the streaming subscriber numbers if you put it in perspective, you had 73 million subscribers, network has 195 global subscribers, thats in one year. We should be really excited about that how, parks are down over 60 year over year, theatrical leases are down year over year if youre looking at this from the perspective of what could go wrong, those numbers could continue to deteriorate over the nest f next few months with all the covid talk we just had the challenge here is in the near term with cash flow thats why theyre not going to be able to pay the semiannual dividend, which will create consternation with investors who own the stock for the dividend they need to put it to fund the streaming enterprise theyre going to have to take that away from shareholders for the time being, invest in streaming and essentially hold the rest of the business steady with espn getting a little bit better in ad revenue, in the interim growing streaming in order to create an opportunity in the second half of next year when all of these pieces should come back together hello dan lobe, right . Lobe made this big bet on disney and wrote the letter they permanently get rid of the dividend, redeploy that capital toward the streaming business and disney has at least taken a step, a significant one really, in that direction. All right. So rbc upgrades disney to an outperform thats one side of your analyst play today the other comes from really one of the preeminent media men on wall street. Theyre neutral on the stock and theyre hat 139 they say the launch of disney plus exceeded our wildest imaginations the stocks performance has also exceeded our more sober assessment this is where it gets interesting and where i want to have the debate, shannon as optimistic as everybody is on streaming, quote, we are unwilling to take the leap of faith on direct to consumer on value use that the market is uncertain if netflix should be treated as multiples because we think its overvalued. The overwhelming story is told around streaming and disney plus i look at the direct to consumer story a little differently. If were thinking about it in terms of reopening, the bull case is we open, the parks reopen and they get revenue from that in that case they dont need the direct to consumer to work all that well. On the flip side if we dont get that and we are hunkered down, i think the direct to consumer multiple on netflix, which i also own is reasonable given the fact that we have seen this shift in the way we consume content. This is a basket for me. I like content, i like both of these stocks i disagree with the value of the dtc business but i disagree on both so i think this is a tough stock to own over the next few months i think this is still a difficult story because you dont see those types of year over year revenue declines in businesses and feel great about it but i think theyre positioned well for the second half of next year. To lizs earlier comments, thats what we should be investing for is the next three, four, five ro. You said something really interesting that eye writing down because i want to talk to step about it. Steph, thats kind of the point of the whole conversation, right . You need to look sort of on the other side of the vaccine. This is the ultimate vaccine stock. Yes, it could be a rocky few months for disney as you continue to look at cases and say, well, people arent going to be going back to the parks in any meaningful way any time soon, the company is overly reliant on direct to consumer and its streaming business because it the only that said, you sold disney at 145 way back in february. Yes yes, i did and im glad i did i found other names in the consumer reopen space. You talk about marriott. I bought marriott three weeks ago. Only 28 of the sell side have buys on this thing on disney youve got 75 of the sell side that like this stock and i think it a favorite. One of the reasons i told could i have bought it back at 90 . Certainly. But the story with disney, as shannon said, is it is about streaming, about the advertising recovery, right . S that my problem is that streaming costs and content costs are really going to be much, much, much too high and youre not going to get the operate look, covid hit this company in fiscal 2020 by 7. 4 billion. Thats a big nut to try to get back its going to take a lot of time i dont think theres a lot of fun and some of the epicenter names that for me as i look at whats going on with netflix and the multiples there, it just wasnt a place that i understand there earnings blue out so its done very well but just not a name that we jump at here. Another positive earnings story and another s p lead are today is cisco shannon, im coming back to you because you own it, you gout it in march best day since march 26th. So you had pretty good timing. Again, if actually look at the numbers, if you took this out of context to whats happened in the world this year, you really wouldnt be all that excited about it i think honestly on Premise Networks isnt as bad as they expected it to be. They are anticipating similar to what they had guided for over the summer that there would be this focus over the summer and work from home and being able to create the appropriate opportunities and the appropriate technology in your businesses to be able to support that and now theyre looking at this renewed interest in pure enterprise spent and, you know, i agree that that cycle is going to be renewed i think companies are going to have a better sense of their cash flow over the next couple of weers that sis. The other thing is the cfo, coming in from auto desk and that bringing that model of the recurring model and that is really needed. So i think the change along with the improvement in internet spend created this force you talk about a going back to work stock, this is one of those at the very top of the list lets bring in generaling herrington jenny, you made a great call yesterday on this stock. The bar is very low, the stock is super cheap at 12 1 2 times should be an easy quarter to beatyouve said that going into intel, too, but this one is paying off big time. Right and i think sharon juiced absolutely nailed of but whats interesting here is this also tells a bigger story what it shows is that incremental, individual moves like were seeing in cisco today are exactly and it is where the bar is just set too low. So here you had a stock trading at 12 times earnings that should run about 3. 50 a share. Say they get a 15 times mutt many thats a 52 dollar stock. A lot of things have to go right, though, right i mentioned the idea i dont think so. I mean, it going back to work stock, that story has to work. You have to have people at some point return to the office and they will, whether we return in march or july, were returning to the office. And interestingly, you dont need the and that was part of the problem was that the whole offices were shut down as long as theyre sek sesible, just keep installing symptoms. It was a goo it. And returning to life, if you will, you got people placing some big bets on that. Bank america inflows owe an if one of the most closely watched strategies from i dont maher a lot of people going on the other side of this market. Yeah it a little more are the cyclicals and rope store when we get more certainty the stock market gets muff to be put moo the market thats thats 5 on average if you went from 14 savings to 5 average, thats 1nsh fwlr you went through some of the moves you had in dera from. It because it play sflsh this being a bullish sign for stocks. That was the thomas lee call of late this week who thought the vix was going to go under 30 and that was a direct confirmation, from a decline of pore are in all right, well work on docs audio there. None of us can hear him. How about that, liz, this idea that volatility will continue to collapse and investors should use that as a sign to start buying stocks again. I think volatility collapsed a little bit quickly for me and if we it, of woo need to get to the period where people are getting vaccinated and we have a fiscal package at play, which brings me back to something earlier in the show. There is a chance on december 11th that we get some sort of bandaid package or a bandaid of some sort because congress does have to act to keep the government open. Theres a small chance that we can get something to bring us to the other side broughtly speaking, ill see i also think people are underweight international. It not a place to be ignored if this is a Global Recovery story, you want exposure to the euro zone, you want exposure to asians em and i dont think people need to look past that any further. We fixed johns audio ill come back to you on your take on volatility can you hear me i can hear you fine you what like i say, though, scott, your question is very timely because when we saw that 40 and 451 vix that held in there for two days, stock, thats a trigger for pete and i to get but i like getting in when there is that fear, blood in the streets, whatever you want to say. We went heavily into stocks at that point and i had very few option positions i was long in this is one of those low reading tiles. Im more more likely to be in options and selling out of the stocks that have made this big rally. Maybe the viks brings. Let talk about on who was if i it. The Digital Payment industry is not going anywhere, contactless payment. We did enter it as Additional Capital off its highs around 215. It been at 1 the 09. And it ton very band wellyou can talk to us about that and maybe some of the other plays you had, too. Absolutely. I think the idecks is a smaller company. We were looking for industrial pleasure and row a myriad of different industries, very Niche Products we think this is a great way to leverage some of the fwrot a and we talked energy and just felt this supply demand mismatch was going to continue we had nice moves in energy this week monday in particular. We are perhaps giving up a little bit of the sickcyclical by selling out of chevron at this point but i think as it relates to coming back to shareholders, well get less Dividend Growth over the next couple of years. Cash flow might be limited, continue to be somewhat limited and therefore we think theres other opportunities. To stephs earlier point, to get my beta industrials exposure elsewhere. Well take a quick break. Coming up, we do have a big coming up, we do have a big ahead for earnings too for over 30 years, you can watch or listen to us live on the go right on our cnbc app rig app. Well be back right after this welcome back, everybody. Im sue herera the Republican NationalCommittee Said it will spend at least 20 million on the Georgia Senate runoff elections. A gop strategist tell cnbc republicans will spend over 100 million and democrats are expected to spend a similar amount ethnic minorities have a higher risk of Contracting Co individual 19 than whites according a study with nearly 19 million patients blacks were twice as likely to abo about. The Cleveland Browns have shut down their facility after an unnamed player. And in bahrain, the royal family has buried the worlds longest serve Prime Minister prince califa held that position sense the countrys independence from britain back in 1971. You are up to date, scott. Back to you. We appreciate that. Then you. Its nice to see you on this friday same to you as well lets look at home depot and lowes, lowes blowing past estimates. Theyre both up more than 25 on the year but there are this time more concerns about how long thee pandemic plays hold up. You talk about this a lot on terg et delivers the we do know targeted and ultra Just Announced the deal to open hundreds of makeup shops inside traffic stores they spent that do can is up about 125 year to date and about if a it is one of the worst performers in the s p as its down almost 2 right now. Good weekend to you see you next week. Lets take home depot first, okay because the question i have is whether theyve seen the best, stephanie, who sold this stock in early november on election day. Shannon trimmed a little bit earlier this year. So sort of this idea steph, is the best behind home depot now . The stocks had a great run, as has lowes, but is it as good as it gets . Its a great company, fabulous Management Team and wonderful Balance Sheet and all that but, yeah, i kind of think 26 times forward estimates i do not think theyll miss the numbers and the stock might grind higher i look at Stanley Black and decker, which is flat on the years and 30 of their Home Business is home depot he also have an industrial part of their business, which is a reopen part. And i own d. R. Horton. Im sitting time with that one only because it still trades at 12 times thats a lot cheaper that be 26 times. Shannon, you trimmed it earlier this year. Jason, you also own it but youre not all a optimistic either from the notes you expect a decent quarterwh why . Its just such a seasonably business i agree with steph, i think thethey will reasonably beat expectations but the story might be slowing down here its a hold for us at this point. Are you worry about that, shann, that we are at a Tipping Point . Im worried that we might be just because of sentiment. There are two things to look at versus the stayathome trade. All of these Housing Market stocks continue to rally that could continue even if we go back to normal or the new normal we could see share buybacks here that was something that was taken off the table last quarter. I think that would be a positive for the stock as well and thats probably not being priced in right now. John, walmart another stock thats had a pretty good run, up 24 1 2 year to date. You continue to hold it . Yes, sir. And love it. It will be really interesting, scott, weve heard the rumors and weve even heard walmart even lean into some of those rumors about how many people have got their delivery service, you know, basically going after amazon with prime, walmart allegedly has signed up a ton of folks in this country for exactly that service if those numbers are shockingly good, then i would look for the stock nof weto move well up int0 obviously soft lockdowns are not bad for that business either they and target both, scott, will benefit from that, in technical for the grocerytype items that arent whole foods priced,er that mo theyre more e discounted side of the business and i think thats a widespread winner for both firms . Steph, how good does nvidia have to be really, really, really good its up 126 here to date. Its only 50 basis points away for me the valuation is sort of hard to get my arms around it but theyre in the sweet spot, theyre in 5g, data center, in a. I. Last month they raised their tate data center totable Addressable Market by 50 billion plus i really like their m a i think theyresynergistic if you have what you have going on today, which is the cyclical stocks are outperforming the stay at home, this will not act well i want to stay patient if it were to pull back 15, 20, 25 , i may even add to it. What looks great one day may not necessarily be that way the next day the bar obviously very high for nvidia given that performance again. 129 year to date. Well bounce for a couple. John has unusual activity coming up take a look at the s p sectors ckft ts. S. Rgy of all thing ba aerhi , we know responsible investing is hard. If youre concerned about the environment and climate change, how do you find companies that are driving the right outcomes . If you care about economic equality and social justice, which firms are addressing it in their workplaces and their communities . For nearly 40 years, calvert has delivered competitive returns by investing in Companies Making a difference because we see value in doing good. Talk to your Financial Advisor about investing responsibly with calvert. Talk to your Financial Advisor about investing responsibly its a thirteenhour flight, tfifteen minutes until we board. Oh yeah, we gotta take off. You downloaded the Td Ameritrade mobile app so you can quickly check the markets . Yeah, actually im taking one last look at my dashboard before we board. Excellent. And you have thinkorswim mobile so i can finish analyzing the risk on this position. You two are all set. Have a great flight. Thanks. Well see ya. Ah, theyre getting so smart. Choose the app that fits your investing style. Unusual activity time. Doc, what you got . Taiwan semiconductor, scott tsm. These both of them eem goii to give you are options that expire the 4th of december, not regular expiration, 4th of december they are buying the 100 calls here taiwan semi has been on fire in the last quarter theyre looking for it to continue hit a new 52week high today second one scott, pinduoduo, pdd. Its a chinese stock that has been flying, 50 increase year over year of subs and now theyre buying the 170 call. This is 133, is 134. Er that buying the 170s. The 70 performance theyve put up in the last month, theyre looking for that to continue im in both. Ill probably be in them until the early part of december, scott. Thank you ask halftime is coming up next s mail uat askhalftime cnbc. Com back in two minutes. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Before money, people tools, cattle, grain, even shells represented value. Then currency came along. They made it out of copper, gold, silver, wampum. Soon people decided to put all that value into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. Thats why its time for Digital Currency and your investment in the grayscale funds. Go digital. Go grayscale. Lexus has been celebrating driveway moments. Heres to one more, the lexus december to remember sales event. Get 0 financing on all new 2020 and 2021 lexus models. Experience amazing at your lexus dealer. All right. Question and answer time a video question its for matt and georgia, steph. Love the show, love the panel, love larry and ge and the energy play. But how much love can i give i need a return on capital 727 is average cost per share. How much longer do i hang in there with this stock . Thank you. Thank you for the question. Steph, whats the answer thanks, matt, for the question it really does depend on your time frame takeouts and takeovers, rather, take a lot of time they happen to make big progress since their Third Quarter the stock is up 50 so youre doing pretty well given your average cost the Free Cash Flow is improving. I believe it goes from 2 billion this year to 6 billion till 2024 if you dont have that time frame, maybe you shouldnt own the stock. I do think they will make progress over time im staying patient and hopefully you will, too. Shannon, a video question on alibaba. Hi. I have a question for you. I want to know is this a good time to buy alibaba, jd and some other companies . Thank you. Thank you for the question. Shann, theres a big question about Chinese Internet Companies given whats going on with the antip. O absolutely. Were going to see more Financial Regulation just as a reminder, the ccps fiveyear plan released over the last couple of weeks has pointed to home grown chinese innovation as being a priority. So we still like this company from a consumer perspective, theyre the amazon china i think its still a buy here. Been a rough week, down 14 in one week. Doc, to you from john in iowa, what are your thoughts on draft kings, now that its reported i loved the report, scott we know there was pentup demand for sports fans like both of us and a lot of those sports fans like to bet. Also, the ceo said theyre in either the first inning, scott, or maybe even spring training. He was really emphasizing those baseball analogies when he talked about customer acquisition. I think they just scream higher. I think the stock is a great buy at these levels. Jason, to you from greg in connecticut. Auto zone, is it a buy here . Thanks for the question, greg when i look at auto zone i think about the aging fleet of cars on the road, im thinking about the resurgence of the vie rerus and fact that were driving more at this multiple i think it is a buy for us liz, to you now that the election is over, what is your advice for somebody who has a lot of money sitting on the sidelines jump in with a diversified portfolio or time average over the next few months . Definitely start getting in but id like to see you average it in over time. Pick a percentage and pick an interval but get it all invested by the end of january. Steph, we have a bonus round. At least a couple more questionsadrian in vancouver your thoughts on rtx, buy, hold or sell . I own it and actually its down 25 on the year it would be one i add to to. The Third Quarter was very challenging but thats going to get better eventually and i think they have a very good and top notch defense business as well they had a billion more in Free Cash Flow in the Third Quarter that he was the highlight that got overlooked and a 2 billion cost cutting plan. Wrap it up for you. Good quarter to initiate or add on if you own the stock, shannon . I would definitely initiate or adhere. On kol skri and immunology remain strong franchises but the pipeline looks great more trades ahead on the half right after this got a question for the halftime Investment Committee . Email us askhalftime cnbc. Com the expertise that helps keep hospitals clean, is helping keep businesses clean too. Look for the ecolab science certified seal. To high quality Computer Science and stem education. I joined amazon because i wanted to change education and i am impatient. Amazon gives me the resources to change the world at a pace that i want to change it. We provide students stem scholarships and teachers with support. Im a fighter and im fighting for all students. Right after this half our Retirement Plan with voya gives us confidence. They help us with achievable steps along the way. So we can spend a bit today, knowing were prepared for tomorrow. Wow dad, do you think you overdid it maybe . I dont think so. What do you think, peanut . Nope. Honey, do you think we overdid it . Overdid what . See . We dont think so, son. Technically, grandparents cant overdo it. Its impossible. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Its time for the futures outlook. Tenyear treasury yield is back under there you go. 89 basis points. Interesting move this week the safety trade in focus as daily covid cases in the u. S. Cross the 150,000 mark lets bring in scott nations and jeff kilburg for a look at where they think this is all going scott nations, do you want to take a crack at this we were well over 90 basis points and here we find ourselves under. We almost got to the round number of 1 , when we got the news about pfizer. When that happened, scott, everybody thought that we were going to reopen the economy. That there were going to be no tail risks its not a coincidence that gold got killed on that news, but now yields are coming back to earth as we realize covid will be worse before it gets better. So if we have renewed lockdowns, then yields are going to be under pressure and scott, interestingly, we got some inflation data this morning and yesterday morning. That doesnt help anybody. It doesnt push the market either way what matters now is do people acquiesce and go ahead and lock down again if so, yields will really be under pressure if not, i think theyll rally again and test 1 again. Scott, how do we know . Ill watch crude oil if crude oil finds a floor at 40, that means that the economy is opening up and people are not locking down its hard to argue, jeff, with any of scotts logic. Even if we dont get lockdowns, which we may not, people still curb their behavior, which has the de facto affect of one, so that impacts the rate trade, doesnt it thats right. And scott is the wiser elder for certain. But i want to really highlight and be a little more optimistic than scott is for the fact that what moves yields higher we saw it at the highest its been since the beginning of march due to the optimism with the vaccine from pfizer. Theres about 25 to 30 Additional Companies searching for a vaccine. To your point, the surge in cases, this is going to be a tugofwar in yields for tenyear note. And i really think the technical significance this week is going to be dramatic moving forward, were out of a range, scott so now, typically, we were tethered to 75 basis points for the last six months. Now were in a higher yield regime i think well be testing to 90 basis points were going to go back down to 80 a very high volume, i should say. All the emotion surrounding positivity on additional vaccines, as well as the surge in cases that were monitoring from state to state. That seems reasonable from both of you guys otank you, both of you sct nations and jeff kilburg, see you soon well take a quick break and come back and do final trades. At fidelity, youll work with an advisor to help you build a flexible wealth plan. Youll have access to taxsmart investing strategies, and with brokerage accounts online trades are commission free. Personalized advice. Unmatched value. At fidelity, you can have both. If youre concerned about the environment and climate change, how do you find companies that are driving the right outcomes . If you care about economic equality and social justice, which firms are addressing it in their workplaces and their communities . For nearly 40 years, calvert has delivered competitive returns by investing in Companies Making a difference because we see value in doing good. Talk to your Financial Advisor about investing responsibly with calvert. Talkbefore we talk aboutdvisor taxsaudreys expecting. New . Twins wed be closer to the twins. Change in plans. At fidelity, a change in plans is always part of the plan. Pretty good friday for stocks take a look at your market picture right there. The dow is up better than 1 , so weve added a little bit in the last 15 minutes or so. 29,389 s p 500, 3571 just shy of 1 nasdaq growth doing well today, too. Three quarters of a percent. Small caps at the bottom of your screen good for 1. 5 that is the russell 2,000 at 1733 lets do final trades. Jason snipe, youre first. My final trade is catalent, i think will be integral in the distribution of the vaccine. Thank you liz young . I like retail here. It got beaten up this week in favor of consumer services, but the vaccine changes the outlook for retail into 2021 and i think theres still a lot of pentup demand. People will spend as they can start shopping on their feet instead of online all the time and theres good things to come, not to mention a Holiday Season just around the corner i notice tapestry was one of the better performers today out of the s p, also the good doctor, dr. Jay host, hst, scott. Jason and jenny have convinced me i need to be in this space. Park hotels worked out great yesterday. Its up 6 today im in host as of five minutes ago and i like the upside here good stuff. Janua shannon . Electronic arts were coming into the Holiday Shopping season. We have new consoles and people are spending more time at their pcs. Great tailwinds for this business steph, you got a quick name john deere. Have a great weekend, everybody. That does it for us. The exchange is now. Thank you, scott. Hi, everybody. Welcome to the exchange on this friday. Markets are rallying in the face of bad news on the covid front places everywhere from chicago to detroit to connecticut and new york are rolling back reopenings we look at the economic Ripple Effect plus, home prices are still rising in every corner of the country for the first time in four decade. Is the market getting too hot . Well explore that and behind the door dash, the Discount Store decade and employees getting recharge days. Thats all coming up this hour but lets begin with the markets, as always dom chu has