Emergency use with ely lilly filing for its drug. Hi, everybody the dow and s p 500 are falling. The nasdaq is imagining to stay in the green on the day and for the week lets go to bob pisani for more. Bob . We are turning around and that is a very good thing given all the uncertainty. A little bit of a down day for energy, banks and industrials. Theres your cyclical group. Theyre generally up on the week theyre up today but down big on the week th this is that churning new high list, pretty much the same list. Not expanding much the same names are on the new high list, target, l brands, colgate freeport stability again, no the bad given all of the uncertainty boeings down today, its been up on the week thats what churn is where are we for the markets the important thing is right now were really focused on the spring reopening rare than the covid winter narrative thats because these selloffs ant getting any traction at all. Theres not a lot of volume, not a lot of panic, just churning. Sometimes 3,500 to 3,600, 32 360 how about that vix there thats a one mart. Its a new postelection low thats telling you that theyre not terribly concerned with all of things that might happen in the next month, even with the election outcome uncertainty and all those other issues floating around churning is good, a little bit of flatness is good for the market given all the uncertainty and for the moment the focus is still on the spring reopening. Guys, ba ck to you. Learn from the churn, folks pfizer and biotech trying to get to the fda first hi, meg. This is the first covid19 vaccine to go to the fda well hear from the companies in terms of the fda setting a ming meeting of its outside advisers moderna is tight on the heels of pfizer and biontech. We talked with the chief advise ber what that timing might look like for both of these Companies Getting to market. Heres what he said. The fda will hold a review for the Pfizer Vaccine and a few days later a review for the moderna vaccine. This will pan out as the reviews goes on. At this stage its more like lich thlikely they will make them a few days apart. This could be happening in early december in terms of supply, if they both get on the market, its said there should be enough to vaccinate 25 million in december and hopefully increasing as vaccines get on the market news coming on the same evening that the World Health Organization warned against usi usi using remdesivir saying their testing showed no benefit. That eli lilly drug is a previously approved, i thought, arthritis drug am i right on that, meg . Yes is a drug approved for rheumatoid arthritis, partnered with insight President Donald Trump is expected to speak in just a couple of minutes. We figure on him to announce implementation on two rules to keep drug prices down. What are the details here . These rules are expected to be focused on the rebates that drug makers pay on their medicines, which really affects the middlemen, the pharmacy benefits managers and on a rule that would tie drug prices on an index of prices paid overseas. You check out how biotech stocks are trading, i look at the ibbetf to see how afraid drug pricers are. And look, nothing. These are not making any impact on drug stocks right now if you look further back to the last political season when we really saw an impact on drug stocks because of fear of price controls, it was in the 2015 2016 season thats when Hillary Clinton famously declared she was going to take care of price gouging and biotech stocks took a hit that day meg tirrell, thank you. Kelly. Jpmorgan downgrading its forecast for q1 gdp and its a whopper, now expecting a negative quarter Steve Liesman has the details. The resurgence of the virus and increasing lockdowns, jpmorgan worrying about a First Quarter contraction, a vaccinefueled boom. It gutted First Quarter forecasts down to 1 , but significantly raised q2 and 3. Thats a bomb right there. Steven mnuchin right here this morning cited the coming vaccine as among the reasons he decided not to extend some of the feds emergency lending programs, offer the feds objections this is not a political issue. This is very simple. And the story is lets go reappropriate 500 billion corporations dont need this money. This has been a great success. We dont need to buy more Corporate Bonds. The Municipal Market is working. People are able to borrow lots of money in the market if the jpmorgan forecast is right, then its just one quarter of a onepoint contraction followed by strong growth the secretary will probably be right the fed programs arent needed jpmorgan based its forecast on a 1 trillion relief and said the u. S. Face as grim winter in any event, kelly steve, we havent heard a lot of doubledip talk, i dont know if this will spur it even jpmorgan is saying a grain of salt with this being a negative one, we could avoid that outcome are we going to start hearing more discussion about what happens if the economy slides back and experiences, you know, another im dancing around the word recession but you see what im saying here i think its fair to say it the economy has tremendous challenges i think the market is eyes wide open as to whats coming its way in the next couple months here in terms of Consumer Spending and lockdowns and terrible, terrible developments when it comes to human life out there. I think its looking through that but i dont think its wrong to sort of think about the risks on both sides of that, kelly, which is everybody listens to figure every word she says. You think about how exquisitely we have to hand off from the virus surge to the vaccine and the timing of that and theres reasons to worry and reasons to concern and reasons to hope that things will get better and be done in the right ways, but theres no girniti iguarantees i take your point at least theyre tallying up what could happen in the meantime thank you, sir Steve Liesman. Ty ubs is out with a new survey and found 67 of investors plan to make portfolio changes in the coming weeks the most popular Strategy Change is buying the dips here to discuss results and whether there are opportunities with these pullbacks is mike ryan and ron ensonia you heard what steve just said about jpmorgans prediction that the economy could go negative in the First Quarter. Whats your reaction to that not only do i agree but kelly started talking about a double dip. I do think we have many hurdles. As weve talked over the many weeks, there are two different worlds as far as measuring outcomes is concerned. When it comes to big temperatures aggregating more market share, that are doing better surviving and thriving during the crisis, we see that reflected in publicly traded stocks when we see mom and pop businesses going out and restaurants shutting down and lockdown measures and other activities being curtailed as a consequence of a spread of the illness, thats not reflected except in the truly mack krro se and the stock market is going to do what its going to do basically, ron, i hear you saying here that the stock market is measuring or forecasting a totally different economy than really if you looked at the u. S. Economy writ large. Yeah. When you look at specific sectors of it, tyler, you talk about main street, mom and popup buses ainesses and thosi have to be retrained and reeducated, there are two sets of issues being played out i dont think one reflects the others reality and in one case its perfectly rgt to talegitim talk about what the stock market is doing, just as it is to recognize whats being wrought on main street because of the pandemic and the response. Yet your survey, it would seem most investors you talked to are pretty optimistic tharp getti theyre getting ready to put money to work, feel good about the economic growth. It was right after the election, they dont seem freaked out at the prospect of a Biden Administration let me follow up on something that ron said. I dont think that wall street is completely divorced from main street but i think it has a different discounting mechanism. The shortterm economic pain is going to be significant but the market is also focussed on the maximum mobilization of fiscal and monetary resources and the implementation, which well likely see at some point in 2021 of a vaccine that combination is what theyre looking for and theyre focused on the economic Recovery Process that they believe grows more robust in 2021 im not sure the markets are divorced from reality, i think they have a slightly longer timeline on it. Are they overdiscounting im breaking up a little bit there with you, mike are the markets overdiscount being the possibility of fiscal stimulus and we just heard mr. Mnuchin saying that maybe there isnt the need to go more into the market and buy up Corporate Bonds to support it. So is the market overexpecting fiscal stimulus . First of all, lets separate two things theres monday tretary and fiscl stimulus thats what joe biden will focus on and monetary stimulus is what we see from the fed. What mnuchin is talking about are some of the shortterm mesh yourself put in place. We need to see some day ai diadl relief and stimulus. The notion well see the economy completely stall given the fact weve had the maximum amount of fiscal and monetary support we put in already and as we given to see better visibility in terms of covid relief, we have to be a little more confident in terms of the economic Recovery Process. Let people throw in two things 79 want to reverse trumps tax cut by raising taxes on those making over lets put that in context they were asked if they were to put that to certain funding needs. It says raising tax es make sense in you fund appropriately. 88 talked about the fact that we need fwra frominfrastructure and reducing National Debt taxes make sense if theyre going to be used purposefully and the other was making staepabstaep ab Sustainable Investments for a lower carbon profile its not just about purely raising taxes. Its raising taxes for a purpose. Ron, last word to you and a quick one, please. Its not discounting or being entirely divorced from reality the stock market discounts Something Different than whats going to happen on main street theyre not divorced from reality. Theyre just in ways measuring in different worlds over the next months. Theres going to be pain on main street and its going to be bad until we get past the pandemic all right, folks. We got to leave it there thank you very much. As always, good to see you ron, good to see you, my friend. Kelly. Industrials and financials leading the decliners today. Check out the bright spots in the s p. Etsy is leading the way. Plus a stock warning from the institution Institutional Organization of finance. Details after this quick break its time you make the rules. So join the 2 Million People who have switched to xfinity mobile. You can choose from the latest phones or bring your own device and choose the amount of data thats right for you to save even more. And youll get 5g at no extra cost. All on the most reliable network. So choose a data option thats right for you. Get 5g included and save up to 400 dollars a year on the network rated 1 in customer satisfaction. Its your wireless. Your rules. Only with xfinity mobile. Welcome back the Global Economy is facing attack of the debt tsunami, warning global debt can reach 277 trillion by the end of the year a record high as governments across the world spend more to bail out economies hit by covid. Joining us to discuss is mark zandi. Its good to have you. The debt conversation is a disturbing one theres the debt levels and u. S. Deficit levels were running this year. The fed is buying half of new treasury issuance already. How is this all going to end well, will the me first say its absolutely necessary to take on the deficits and debts right now. If we dont, the economy that is struggle will evaporate and fiscal problems will be more significance theres really no good choice. The worst at least bad choice is what were doing and that is supporting the economy we need additional fiscal report but theres no such thing as a free lunch on the other side of the pandemic down the road when the economy is hopefully approaching full employment again, these high debt levels will be an issues especially for corporations, theyve been borrowing very aggressively that will be a fault line down the road in the economy. This tally includes not just government doebt but corporate debt yes sovereign debt, treasury debt, corporate debt, what businesses are borrowing to navigate through the pandemic their sales and cash flow and they need more debt and also Household Debt at lease in the case of the United States, Household Debt is not an issue households have been very prudent in their borrowing and even today the growth in their debt levels is less than the growth in their incomes. Im really worried mostly about corporate debt and the growing deficits at the federal government level on the corporate debt piece of this, as companies earn more money in the years ahead, theyll have to divert it to paying down debt instead of investing and boosting profits that way its a subtle effect but i dont see how it can be avoided. It may not be that subtle we get down the road and into another economic problem, these companies are going to have some pretty difficult choices to make do i make my debt payment or do i cut payrolls and cut investment the high debt loads could exacerbate futures its been basically free money and taken a lot of pressure off but its help to exacerbate of increase in did the we increase the debt were seeing before the pandemic, there was a lot of hand wringing about leveraged lending. That problem is worse today than it was but its not a here and now problem. Its a problem in the future when Interest Rates do rise. Thats when were going to be struggling with this mark, finally, on the Government Debt side of this, theres completely new philosophies, modern monetary theory among others that would suggest our concern about these levels is way overblown. And certainly we know from the experience of the past decade or so that theres no Tipping Point that weve yet reached on this front despite all of the warnings, the concern that weve had tea party movements, mi political response, you name it. Our bond yields keep falling and do so no matter how much were issue. To me it seems like the only thing that could happen other than perhaps another political response is at some point the bond market pushes back and until or unless that happens, off we go. Sfli thi i think you have that right we have very high unemployment, very low inflation Federal Reserve is telling us theyre going to maintain zero Interest Rates until were back to full employment into that context the appropriate policy is deficit finance. We have to do this on the other side there is a limit and we are going to see that limit by the way, were borrowing here heavily in the United States every economy on the planet is doing the same thing i assure you down the road, two, three, four years from now Global Investors are going to say whats going on, am i going to get repaid in a timely way and the answer will be probably not and Interest Rates will rise its that trade weve been waiting on and waiting and waiting and waiting some more. Thanks for joining to help explain this sure. Still ahead, Health Care Stocks are hanging on to gains as we await President Donald Trumps remax on lowering drug prices we will head to d. C. As soon as he begins speaking plus, the cdc warning americans not to travel ahead of the holidays, as covid cases surge across the country well tell you what it means for the travel stocks. Thats next on power lunch. When i was in high school, this was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. New projects means andyou need to hire. Gers. Oday. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. Claim your seventy five dollar credit, when you post your first job at indeed. Com home. Welcome back weve got a news alert out of washington lets get right to ylan mui. Senate Majority Leader Mitch Mcconnell is standing behind the move to reclaim money from the federal lundi federal lending plan, that the emergency should be targeted toward urgent relief measures. He specifically calls out the pay row protection program, more money for hospitals and distributing vaccines. He says republicans continue to support passing those kinds of relief measures as soon as possible this comes as democratic leadership is set to meet with president elect joe biden later on today and republican and democratic staff have been talking about another government funding bill as well as it is possible to move forward on another covid relief package we will see if this is able to change the parameters of negotiations as we move forward. Guys all right, keep us posted thank you very much. Ylan mui with the latest lets go to seema mody now the cdc urges americans not to travel this thanksgiving. Even before the cdc warning came out, data from travelocity showed already 60 of americans were not planning to travel this thanksgiving, but those who are were planning to stay closer to home, opting for Vacation Rentals offer hotever hotels lets go to our trading nation team today craig, all of these names in travel, cruise lines, hotels, airlines, they traded sharply higher on that pfizer new last week, giving back some of those gains today. You look at the jet ctf as an example. It looks luke it got vaccinated before everybody else. While the cdc is warning people not to travel, i think most investors are look beyond this nearterm travel season. The first chart is i look at the correlation of the jets etf to the coronavirus cases. You can see back in the june july time frame when there was a spike in cases, you saw that etf trade lower now youve got the exact opposite happening that there is a vaccine out and cases are moving up sharply higher and seeing the etf move higher, too. Looking at that chart, seema, i dont think investors care, theyre focused on the vaccination and a move above 21 higher would open up another leg. If the idea that travel will rebound once a vaccine comes to market, why sell this here i think it exactlying here ih market is discounting a perfect scenario that hasnt occurred yet, which is the idea that a vaccine is going to immunize everybody and we go back to data were still 65 down year to year and not improving a bit. Cases are spiking right now. All of these country from now until then will have a very tough time surviving and making profits. A lot of these names have been overbought at this point and are very vulnerable to a selloff as they see very little engagement from the consumer. The consumer is staying home and paying attention to the cdc because many more cases are blowing up around them so they know many more people who are getting sick i think its going to take longer than the market things to come back. Thank you thanks for watching trading nation. Kelly, back to you seema, thank you very much. And ahead on power lunch, were awaiting comments from President Donald Trump regarding drug pricing and the newly announced covid19 vaccine well bring it to you live when it happens plus, taking stock at thanksgiving amid the pandemic while smaller holiday parties could impact food stocks, winter lockdowns may bring stronger demands. This when power lunch returns. Welcome to a better way to live. Is that your home . Dun, dun ,dun. Hold on, stop you accessorize with a sloth . This is belt. [ chuckling ] great sash. Oola la welcome back, everybody. Im sue herera here is your cnbc news update. The Toronto Raptors are going to be calling tampa, florida home thats where theyll have to start their season after failing to get government approval to play in canada a new cdc study shows just how much mask mandates can help. It looked at what happened in kansas in july after the governor required the use of face coverings in the 24 counties that went along with that order, covid19 cases fell 6 over the next six weeks, but in the 81 counties that opted out of that mandate, infections doubles in that period and Lamar Alexander is calling on the white house to give president elect joe bidens team all the tears and resources it needs for a smooth transition and acknowledging that biden has a, quote, very good chance of being the next president you are up to date thats the news update at this hour ty, ill send it back to you sue, thank you very the dow and s p are in the red but the nasdaq is hanging on to a gain for the day and week. Industrials down about a third of a percent the s p 500 basically flat if you want to draw a fine line around it and the nasdaq composite up about a fifth of a percent as we round out this week it would be, i think were going to go to the white house and the president who will be talking about drug pricing so today i have to tell up its a great honor for me to announce that my administration is issuing two Ground Breaking rules to very dramatically lower the price of prescription trugs f drugs, especially for our cherished seniors. We joined by alex azar and administrator seema. Thank you both thank you all for being here appreciate it. The unprecedented reforms were completing today are the direct result of the historic drug pricing executive orders i signed in july, statutorily we had to go through a very long process and we got it done i was very proud to have gotten it done. We were pushing it very hard, as we did with vaccines and other things the first action will save american seniors billions by preventing middlemen, famous middlemen they call them, from ripping off medicare patients with high prescription prices. Currently Drug Companies provide large discounts on the price of prescription medicines, including nearly 40 billion in rebates to Medicare Part d plans last year alone, yet often they stop the discounts from going to the patients, which is what were interested in, not the middle men, who need it the most so the patients are going to be now getting benefit in stead of these very wealthy individuals. Patients pay very high prices for many years, though we brought it down. Costs adding up to even hundreds or thousands of dollars per year per patient. Todays action ends this injustice and requires that these discounts go directly to people these are the people that need it this will save patients up to 30 , could be 40 , could be 50 , could be much higher than that these are numbers nobodys ever even contemplated. And that doesnt include lifesaving drugs like insulin, which will be even higher. Insulin was destroying lives and families because the cost was so high and now its at a level that nobody can even believe is that correct, seema 35 a month from many times that number the second rule were finalizing today will transform the way the u. S. Government paying for drugs to end global free loading on the backs of american citizens and american patients. Until now americans have often been charged more than twice as much for the exact same drug as other medically advanced countries. We would be having a drug, identical drug, same company and wed pay many times the price of what that drug would sell for in certain countries. In case after case our citizens pay massively higher prices than other nations pay pore the safoe exact pill from the same country. So we would spend tremendous amounts of money to provide inexpensive drugs to another country. And when i say the price is different, you can see some examples where the price is beyond anything four times, five times different. For example, Medicare Part b recipients are forced to spend five times more for a common Breast Cancer medication than patients in other countries. So five times more and we have other examples that are substantially higher than that to address this unfairness and to lower prices for americans, were finalizing the most favored nation rule. Remember that name, most favored nation rule. Nobodys ever done this. The Drug Companies dont like me too much but we had to do it it took a long time before we were able to do this because statutorily we had to go through a process, but there will never be anything like this. I just hope they have the courage to keep it because the powerful drug lobby, big pharma, is putting pressure on people like you wouldnt believe. Medicare will now look at the price that other developed nations pay for their drugs and instead of paying the highest price on the list and we are substantially higher than any other country in the low, we will pay the lowest price. We take the lowest price and match whatever the lowest price is, leading to colossal savings for all americans. And were talking about savings of 50, 60, 70 , 80 in the past Drug Companies have been allowed to identify certain very old generic drugs that have been widely available for decades and exploit a misguided program called unapproved Drugs Initiative thats unapproved Drugs Initiative, a program that has been around for a long time and hasnt been too good for the people that were supposed to benefit. To obtain market exclusively on these medicines. So we are doing something that nobody thought nub wouanybody wo the savings is going to be incredible theyve jabbed up the prices by as much as 1,000 to 5,000 on this product this program has also caused shortages of important medicines. Im announcing we are ending the unapproved Drugs Initiative program to stop this unfair practi practice so prices are lifted by a thousand per to 5,000 and more than that. Were putting an end to it this will save many, many patients many billions of dollars every year the American People have been abused by big pharma and the army of lobbyists bought and paid for by the special interests. Ive been loyal to our patients and our people that need drugs, prescription drugs and devoted myself to completely fighting for the American People. Up see th you see that big pharma ran millions of dollars of negative advertisements against me during the campaign, which i won by the way, but well find that out almost 74 million votes. We had big pharma against us, we had the media against us, we had big tech against us. We had a lot of dishonesty against us big pharma alone ran millions and millions in ads and i looked at it and said who is it ive never seen anything quite like it because i told them im going to have to do this i was put here to do a job and pfizer and others were way ahead on vaccines. You wouldnt have a vaccine if it werent for me for another four years because fda would have never been able to do what they did what i forced them to do and fepfizer and others decidedo not assess the results of their vaccine, in other words, not come out with a vaccine until just after the election thats because of what i did with favored nations and these other elements instead of their original plan to assess the data in october. They were going to come out in october but they decided to delay it because of what im doing, which is fine with me frankly, this is just a very big thing. I dont know if anyone is going to appreciate it these people cant even believe it alex, even you cant believe it. Look at you. They waited and waited and thought theyd come out with it a few days after the election. It would have probably had an impact who knows. Im sure they would have found the ballot someplace, the democrats. These corrupt games will not deter us from doing whats right for the American People and i will always put american patients first i think it can never be shown better than what im doing today. We successfully lowered drug prices for the first time in 51 years, allowing whocareer polit promised to institute this reform for decades the reason condition da and i this i this is going to just a shortterm fix because until we have the favored nations fully ready, which we hope to for january 1st, right around the corner, but im giving governors the right to go to canada because theyll pay approximately 50 less for the drugs theyll buy for their states they buy the drugs for very, very much less and theyll be able to pass that on to the people of florida, ron desantis was first one to ask but others are asking also and its a great thing youll save 50 . Theyll buy a lot from canada and ultimately youll get the lowest price anywhere in the world so you wont need to buy from canada. My administration will finalize rules requiring federally funded Health Centers to pass drug company discounts on insulin and epi pens directly to patients and the epi pen prices come way down we remember those horrible stories about epi pen. The price has come way, way, way down we capped insulin costs for many seniors saving them an average of 500 to 1,000 a insulin since i took office, weve reduced medicare premiums by 12 . 12 is great by any standard but its peanuts compared to what weve done with favored nations. Its probably the biggest story weve ever had relative to drug prices theres never been anything like this this is something that has been talked about for many years but nobody had the courage to do it because of the power of big pharma we ended the we entered the gag clauses that prevent prevented pharmacists from telling patients how to buy cheaper drugs. They couldnt did that now they can we approved a Record Number of generic trugs for three years in a row and we put a heavy emphasis on generic drugs and the pricing there has become very good. But that price willing also go down very substantially. No administration has ever fought harder or achieved more for our patients and for our seniors. But for america, when you think of it, for america, because other countries were paying a fraction of what we were paying. In some cases, a small fraction. I mean, it was it was the numbers were just staggering, the difference between going to i wont name nations but i could name five of them right off the top of my head that it is so incredible to think about for years what was happening we have been working on this for two years, statutorily, we had to go through a process. When you think that our nation, for the exact same pill, out of the exact same box, often made in the exact same factory, same company, and you take a look at the cost was so much more. Many, many times more. In four short years we have instituted the most dramatic series of drug pricing reforms in decades and you will see that. It all comes to fruition right now, starting on january 1st and the American People will benefit from our actions for many, many decades and it should be very immediate. Now, i presume they will sue, but it is a suit that they should never be able to win. They should never ever be able to win now i would like to ask secretary azar to provide more details as to the action then, sam i would like to have you come up and say a few words. Great job. We appreciate it thank you. Secretary. All right there is the president talking about a new initiative to lower drug prices. There are really four points worth highlighting here as secretary azar takes the podium at the white house one is to make sure that the discounts negotiated by pharmacy benefit managers, the middle men, as he described them, must now be passed on to individuals and not either pocketed by the pbms or the Drug Companies number two is to ensure what he calls a most favored nation approach under which american buyers of pharmaceuticals would pay the lowest price that other nations pay for comparable drugs. A third is the ending of the unapproved drug initiative, a technical part of practice that he says Drug Companies have benefitted from over the years he also took a big shot at pfizer, saying that pfizer had, in effect, withheld data on its vaccine, Covid Vaccine breakthrough until after the election because pfizer was so upset with the plans that the president was coming out with with respect to drug pricing and that he deserves credit for the for the initiative that brought the brought the vaccines to market but it was a very strong shot at pfizer and other big pharma for blocking until after the election in an effort to wound him the announcement of vaccine data kelly. Lets check the ibb, the biotech index. As meg pointed out earlier today it is unflummoxed about what we just heard, it is still up about half a percent you can look at the likes of Cardinal Health and so forth those shares are lower today but had been so prior to this announcement we are talking about a decline of 1. 5 . Remember, they had a lot to contend with this week between this announcement which was foreshoddaed and amazons announcement it is getting into the Online Pharmacy business to the president s point about the industry being upset about it you have got the Pharma Association saying finalizing the robert rule will increase medicare premiums. In 2002 thats why an earlier version of this was shelved for some time. The second part, foreign price controls, they say it is fully flawed that will endanger a lot of americans there is i think aer from the trade groups but the stocks themselves appear somewhat unmoved by these announcements we will take a qckui break here and continue to follow these stocks and the stories here on cnbc dont go anywhere. 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. And sweetie can coloryou just be. Gentle with the pens. Okey. Okey. I know. Gentle. Gentle new projects means new project managers. You need to hire. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a short list of quality candidates from our resume database so you can start hiring right away. Claim your seventy five dollar credit, when you post your first job at indeed. Com home. Welcome back the cnbc is warning against traveling for thanksgiving smaller thanksgiving meals means smaller thanksgiving turkeys, which means smaller profits for farmers. Lets go to jane wells at one such tucky farm out in california reporter kelly, i think the only thing happy about this ban on traveling for thanksgiving are these ladies right here. But heres a problem turkey farmers plan a year in advance how many birds to raise. I am in sonora, california they ray about a couple hundred thousands turkeys for thanksgiving they are seeing ards for 2 to 14 pounds inset of 18 to 2, like these here and another farm had to rush their turkeys to slaughter early so they would be smaller even cut some of them in half. As you say, smaller birds mean smaller profits. I think this year profit will be le less because the sizes are going to be smaller. But i think i think we will get a little bit more than break even. What we talked about in our family is if we break even it is going to be a good year. There were a lot of change this is year. Reporter hey, hey. But, heidi still says she feels fortunate. They happen to have these proterry line of birds that mature at six to ten pounds. What a great idea. They sold out completely kelly. Jane, thank you very much thats going to be a shot i remember for quite some time jane wells in a sea of turkeys tiler i will throw it back to you with this comment, even though people are looking for smaller birds this year more people are going to try making a turkey because they have nothing else to do. No. They are staying home. That was jane cutting through the gobbledy gook, thats what shes doing there, so well i wander whats going to happen to these birds bless their clucking hearts. Yeah, bless their clucking hearts all right. So there are the industrials there are the industrials. A half point lower and s p down about a quarter point. Nasdaq flat, basically, up 11. Have a great weekend, kell. You too, tyler. Thanks for tuning in everybody, closing bell starts right now. Welcome to the closing bell right now, im wilfred frost along with sara eisen. The dow, and s p down, nasdaq clinging to slight gains treasury secretary mnuchin attempted to calm wall street saying the treasury and the feds still have fire power left to stabilize the market pfizer applies for emergency use authorization for his Covid Vaccine today. An