Skip to main content

tv   Worldwide Exchange  CNBC  December 8, 2020 5:00am-6:00am EST

5:00 am
now you know the news. for this monday december 7th, 2020, i'm shepard smith. follow us on twitter at the news on cnbc and by all means follo th it is 10:00 a.m. in london, 5:00 a.m. at cnbc headquarters and here is your top 5 at 5:00 the wait is over for millions. britain administering its first covid vaccines to the public who is first in line and president trump is holding a vaccine victory lap event, but it is who is not attending getting all the headlines. and plus more unknowns when it comes to the vaccine rollout and missed opportunity wall street, stocks
5:01 am
searching for sdwredirection. and more than $7 billion worth of new stock hitting the markets this week as a company that brings you burgers likely becomes worth more than $30 billion today. it is america and "worldwide exchange" begins right now ♪ welcome from wherever in the world that you may be watching i'm brian sullivan thank you for joining us here on wex. only 17 shopping days until christmas and only 24 more days left in the year welcome, everybody let's get right now to the stock market baud we are not done with 2020 just yet. and here is how your money and the markets look stock futures are town justdown bit. you can see fair value on the dow actually in the green, so
5:02 am
flip a coin. monday the nasdaq posted its 48th record close of the year. and 56 intra day all-time high the russell 2000 small cap index by the way, up 25% this quarter. but are investors getting too bullish? we'll talk about that in a bit but let's go around the world. stocks in asia ending mostly in the red. hong kong fell the most of the three major indexes there. and in europe, a similar story even as the vaccine rolls out in england. markets also have to be focused on the stuck brexit talks as well the major averages down slightly across europe. but right now, let's get to the big vaccine news, a huge day for millions of people in england. the uk administering its first covid-19 vaccines to the public, a major milestone for that
5:03 am
nation in the global fight against the virus. 98-year-old margaret was the first to receive the inoculation out of the 40 million doses ordered, about 800,000 shots will be available as part of the first wave which begins today. wishing the best to margaret becoming the first person there to get that vaccine. all right. we'll get more domestic headlines surrounding the outbreak here, including the reportedly passing up an opportunity to buy millions of additional doses of pfizer's vaccine. according to the "new york times," under its nearly $2 billion deal with pfizer, the white house committed to buy an initial 100 million doses with the option to buy more but the paper says that the administration decided not to lock in those additional treatments for delivery in the second quarter of next year and the paper adds that that move
5:04 am
could delay the delivery of that second batch until pfizer fulfills other entinternational contract which is could happen in june at the earliest. the white house is disputing that report. now, amid that, the president is set to signen an executive orde aimed at making sure that american efforts to help other nations vaccinate their citizens is a lower prior tity than heret home pfizer and moderna have rejected the invitation to attend the event. and president trump is also considering taking the vaccine on camera as part of an effort to broos confidence surrounding a virus treatment. the president is interested in boosted public trust with recent polling suggesting doubt among americans about the covid vaccine. remember obama, bush and clinton
5:05 am
have all previously said that they would volunteer to get vaccinated in public to boost confidence well, let's get more now on the vaccine story, margaret keenan, 90 years old, getting that first dose of vaccine julianna tatelbaum is in london. and i know i've said it before, i guess i'm a broken vaccine record, but it is a very big day for many people there. >> i think it is worth saying over and over again because it is an historic moment. when you think about how quickly the whole process took place, it is truly remarkable, that was the sentiment offered by the nhs england chief this morning just noting that less than a year ago, we had the fishrst diagnos of this mysterious disease and now today the uk officially
5:06 am
hauchb launched its mass inoculation program. margaret keenan the first to take the vaccine, 90 years old in terms of who is in line to get the vaccine starting today, it is the over 80 crowd. last week when the uk published their guidance on who should be first in line, long term care was first on that list the uk government has said that it is not quite ready to deliver the vaccines directly in care homes just yet and that is because there are significant lowgistical challenges so first they will be offered at hospitals like the one behind me there are 50 hospital hubs around the country that have begun administering the vaccine this week. we heard from the uk health second that next week we're due
5:07 am
to get another round of vaccine. exact numbers have not been given. it depends on how quickly they can manufacture the vaccine. and we heard from boris johnson, he came out hailing the you can is says of tuccess of the vacci program but urging the public to remain vigilant. and part of that is because the bulk of the vaccinations of this high risk group -- [ inaudible ]. >> it appears that the audio is in and out listen, by the way, probably a lot of media attention there, maybe the satellites were all booked up, who knows we have vj and ve day here to celebrate the end of world war ii you saw from that graphic there, they are dubbing it v-day in the uk, first day of vaccinations. margaret keenan the first to get that vaccine and julianna, it is like a ping-pong game
5:08 am
she is gone, she is back, go to break, read this, do that, august all i want to know, when is it coming here you probably don't know that but let's talk about v-day how big of a national attention is this getting? >> it is huge. you mentioned v-day, that is what the british papers are calling today. and there is actually a feeling of optimism in the air here. and just this morning, we came out here in the early hours of the morning in the dark and we were joined by several news crews. and that is not xwhon as tcommon but people are out, there is a huge amount of attention on this but again, when you think about vaccinating the entire population, that is not going to happen for a number of months. so it will happen gradually, that is the message from prime minister boris johnson this morning. and of course complicating matters, the uk is continuing to
5:09 am
watch brexit are gosgosnegotiats and what it could mean for the vaccine supply chain but that is perhaps a question for another day. the focus noud is tw is the rol the vaccination program and it is under way across the country. >> yeah, great news. you do wonder, some of the news crew, you wonder are they there to cover the story or just hey, mate, what i wiile you're theren line julianna tatelbaum for us live covering the story >> and it is the not like that you can jump the line in the uk. >> yeah, but i never underestimate the media. not you know julianna tatelbaum outside of the hospital, v-day, a huge day in the uk.
5:10 am
thank you very much. when we come back, getting a fix of stitch fix, shares taking off like a rocket. apparently clothing delivery is hot again. plus another special delivery, gearing up for the big doordash ipo leslie picker is here with what you need to knowed and maybe a couple things that you don't and more on the big story of humanity, the uk virus rollout and what the u.s. is doing with plans of its own
5:11 am
5:12 am
5:13 am
so welcome back and good morning. the nasdaq posting nearly 50 record highs this year small caps up 25% in just a quarter. and yet your next guest says as much as we have rallied, there is likely more to come victoria green is at g square. and she is joining us. i'll use your data and quote it back to you. the markets are up 65% from the march lows that is great for your clients, great for our viewers and listeners. but why isn't it too far too fast >> i'm not sure that it has. it looks like a classic recovery off of a bear market if you chart it versus 2009, in
5:14 am
2009, it rallied 66% off the march 9 lows going into the ended of the year. and then going forward in 2010, it produced another 15% return you look at for 16 a nice bull market rally and in 2017, another 13%, 15%. and the average street target puts it right squarely in the 13.5% potential return so we think that it is just a classic rally off a bull market recovery and the markets never say come invest in me, it is safe, it is always feel weird and overvalued because you are coming off of the huge lows. so everything looks expensive off the lows but if you back it out, you realize that it is probably not as bad as you think it is. and there is still room for it to run next year >> is the market pricing in stimulus if we don't get something, of any size, will stocks decline
5:15 am
>> there is potential for a short term hit if you don't get something done in the next couple weeks certainly they are stuck on that but i have faith that we hav adults in the room to get it done restaurants are continuing to shut its doors and that is heartbreaking for a lot of people and i think push comes to shove, government will get something through. it may not look like the first round, there is talk that the $1200 direct payments are certainly not on the table but you can look at extra unemployment benefits and other ways to directly help small businesses which are fueling the brunt. and i have faith that it will get done before christmas and that will help people get through the holiday season >> i looked at some of the stocks you like and i did a double take. i saw chevron? i know you are in texas. >> i know. >> i thought fossil fuels were
5:16 am
buried >> the death of the energy industry is a little ov overexaggerated. in an early cycle rally, you want to have some cyclicals. and chevron is the crown jewel of the centering industry. it is a 5.5 yield. very disciplined spending cut, capex only about 14 billion next year oil in the 40s is good for them. and they picked up noble for cheap. they definitely won by losing. and they have got this great complimentaementary company now and chevron is a fantastic company. they are the darling of the street so if i want to buy something that is maybe not as expensive, energy is certainly a beaten down sector. and opec kind of played nice they will actually came to an agreement, it is adding half a million barrels per day, but that is better than no opec
5:17 am
agreement. and i know people are worried about another black swan, but that is like saying i won't go to the gym because i could sprain my ankle. investing involves risk and we think that this is a good balance sheet and ceo that will defend the dividend to the hill. >> and opec plus decision was really a gift if you will to the u.s. oil and gas industry because they kept prices somewhat firm. have i quickly, bonus final pick, why do you like crowdstrike? >> oh, they are a fantastic company that crushed earnings. they are cloud based and with all the workforce working from home, people need a better way of monitoring their ai and cloud base and the secretator itself continue to grow and their product is just superior plus they are revenue, they are anticipating almost 70% almost revenue growth next year and
5:18 am
learning to increase their subscription pipes across the client base and they are picking up big wins. they picked up target and eating into the market share and that is just the company that you want to be a part of >> crowdstrike and chevron, we'll get to the ds on your next appearance victor victoria, have a great day >> thanks so much. still on deck, remember how uber was going to be a massive maker of self-driving cars taking you everywhere with no driver well, that is over that story next. today's big number 300% that is growth in total orders at doordash in the first nine months of 2020 compared to the year ago period. the company is slated to begin trading tomorrow at morgan stanley, a global collective of thought leaders offers investors a broader view.
5:19 am
♪ we see companies protecting the bottom line by putting people first. we see a bright future, still hungry for the ingenuity of those ready for the next challenge. today, we are translating decades of experience into strategies for the road ahead. we are morgan stanley.
5:20 am
5:21 am
welcome back today we'll give you four big stock stories. and it includes the latest fashion trend, buying a new home and throwing in the towel on self-driving cars. first up stitch fix, sales rose 10%. and check it out, stitch fix expects revenue growth of 20% to 25% in fiscal 2021 stock number two is uber, selling its self driving car
5:22 am
unit to a startup backed by amazon this ends uber's five year run of trying to develop self-driving vehicles. but uber will take a stake in that company up next, toll brothers, more people buying bigger homes, having an extra room that you could use as an office or hide from the kids. toll brothers down 4%. and your bonus stock, palantir, up after jumping 21% yesterday the move comes on reports that the company has landed a $44 million contract with the fda to help power drug reviews and inspections. shares up more than 200% since its direct listing in september. peter teal wins again. still ahead, much more on this landmark day in the fight against covid-19 as the uk rolls out the first round of vaccines.
5:23 am
plus is everybody way too bullish about stocks new investor sentiment that may surprise you could even scare you dow futuredo 9s wn6.
5:24 am
5:25 am
they are calling it v-day in enand it gland as the first peo
5:26 am
being vaccinated we're live in london with the latest meantime, here at home, president trump set to order americans first when it comes to immunization amid a new report claiming the white house passed on buying millions of additional vaccine doses. and now we may have to wait until june and doordash set to kickoff the block bbuster ichltpos. it is tuesday, december 8, and this is "worldwide exchange. ♪ women co welcome and welcome to tuesday. we are just about halfway through the 5:00 a.m. hour stock futures are slightly in the red. fair value in the green, markets
5:27 am
really could go anyway today the nasdaq effectively flat. and the nasdaq continues to be the story. on 3407b tmonday the nasdaq post 48th record close of the year and 56th in-are a day all time high the russell 2000 by the way is up 25% just this quarter and talking about small caps a lot and they have continued to outperform but today really only three stories matter to the markets and perhaps your money number one, the uk administering the world's first regulated and approved covid-19 vaccine to the public pictured there, 90-year-old margaret keenan, first in the uk to receive the inoculation out of the 40 million doses ordered. about 800,000 the shots will be available as part of the first wave that begins today and youcan see a lot of flashing bulbs and hear the applause, the immediate jameedie
5:28 am
and they are calling it v-day. and a white house vaccination summit after it was reported that the administration may have declined pfizer's offer to sell the u.s. additional doses of the vaccine beyond the 100 million already requested. and back on wall street, story number three, as more than $7 billion of new stock hits the public markets this week, with door dash expected to price its hotly anticipated ipo tonight kicking off one of the busiest weeks for ipo ochlos in the pan years. and we have full team coverage with the best in the business. julianna tatelbaum with the latest in london, eamon javers with all things washington and leslie picker on what we can expect from doordash and airbnb and more but let's start overseas and julianna tatelbaum
5:29 am
>> today marked a remarkable achievement for the scientific community. the uk has officially begun its national vaccination program and in terms of who is eligible to get the first tranche of dose, those over 80 years old alongside frontline health workers and long term care workers. you remember when the umuk publd their guidance, right at the top were long term resident z. right now the ud government is not ready to roll it out in home care facilities themselves first off it will be in hospitals. and so we're here in front of one hospital that is offering vaccines in terms of the dosing that is available, this week 800,000 doses are set to be made available, next week is when the next schedule of deliveries is set to come through. no exact numbers yet, but we
5:30 am
know that the process is likely to be gradual and it will take a number of months before the most high risk categories of people are vaccinated but we are well on the way and one other thing to mention after one gets vaccinated, there is an expectation that tell receive a vaccination card and it will note the type of vaccine that you got, the batch number, the date and your appintmeap pint pint appointment for your next visit. because one of the major challenges, they are two dose regimens so just getting the first inoculation is only half the battle so people will have a card that has a date telling them when to return, and it will be 21 days later. so historic day here in the united kingdom and exciting for all to watch as the vaccinations begin. >> and to your point again, margaret keenan, the first to get it and in 21 days, they will have to come back for their second
5:31 am
dose the moderna vaccine sdnk requa require a second dose, but that yet not approved in the uk that's correct the only vaccine that has been approved is pfizer and biontech. and we will looking not only toward moderna and also astrazeneca. and there is day it due in the coming days, a peer reviewed publication of its full trial. a lot of open questions around the astrazeneca vaccine. but should that be approved and moderna, it means a lot more doses for countries around the world. so effect the attention to shift in the coming weeks. >> and those vaccine cards may be a proof of entry to certain things down the road i've talked to companies here
5:32 am
that are looking at using the airport service clear if you upload your vaccination data as a pass into restaurants and other places down the road not happening, but people talking about using that airport system so we can goto restaurants and wherever we want again. and more importantly see our families safely. julianna tatelbaum, appreciate you being there. thank you very much. and in the meantime back in washington, president trump will be hosting a covid vaccine summit at the white house today. a number of new developments overnight, all ahead of the event. first up, ceos of moderna and pfizer will not be in attendance second, the white house pushing back on a "new york times" report that the trump administration declined pfizer's offer over the summer to sell the u.s. additional covid vaccine doses past the 100 million already ordered. as a result, pfizer may not be
5:33 am
able to supply more doses of that vaccine in the u.s. until at least union and third, a senior administration official says that president trump is considering taking the vaccine himself live on tv despite already being infected by the virus in october eamon javers is here to break it all down where do you begin with that menu of stories? >> yeah, a lot going on. but about the line, the white house will position this as an american miracle, the idea that there is a vaccine at all at this point they say is due to american ingenuity and of course they will take some credit for this and say it is due to president trump's "operation warp speed" effort now, you talked about some of those people who won't be there and we'll get to that. but talk about the significat number of doses that will be there, they say that by the end of the second quarter, everybody in the united states who wants a dose of this vaccine will be able to get it
5:34 am
that is still seven months from today. so even as we see pictures of people getting vaccinated, bear that in mind and they will highlight the importance of the private sector, they say that it might be possible that no member of the federal government, no federal government employee, will even touch the vaccine from the time it comes from the production line to the point of injection into your shoulder so this could be an entirely private sector effort. they are talk position about companies like mckesson, u.p.s., fed fedex, walgreen's, cvs, being prepared to go into every long term care and ased facility in t assisted facility in the country. and trump to sign an executive order to prioritize vaccines for americans before other countries. and you talk about the absences. dr. fauci will not be there either they say that there was a scheduling conflict for him. they say the two companies moderna and pfizer won't be
5:35 am
there because they didn't want any awkwardness around the fact that they still have fda approval pending, they didn't want the moderna people interacting with the fda people, any paeshappearance of impropri. and there are will also not be any representatives from the biden transition team. >> and that would be dr. fauci i mean, i don't know if he has accepted it, but i've seen joe biden has said that fauci will be offered a job or will continue in his current role so he would be part of that transition team, so that would sort of explain in some easy way why he would not be there. >> yeah, they say it wasn't that, it was just a scheduling conflict, fauci had something else going on today and wasn't able to make it to the white house. so look, a lot of this is about the politics and positioning of course president trump sees this as a big win for his administration even though he is not acknowledging that he lost the
5:36 am
election, the president has said that he doesn't want joe biden to get the credit for the vaccine, he says the vaccines were me. he said that he put a lot of pressure on the system and therefore he should get political credit for this vaccine. and you can see the white house taking steps today to put their stamp on it. >> scheduling conflict hey, can you come to the white house for giant vaccine event? i got something else to do and the report suggesting that the u.s. may not have enough doses until june because we did not secure a second load of doses in some prearranged deal the white house is pushing back if not denying that report you can tell us more because this is really what we care about, when are we going to be able to vaccinated and get out of this. >> what the "new york times" reported is that the trump administration passed up an opportunity over the summer to
5:37 am
purchase additional doses of the vaccine and as a result now that there will be a delay and we won't be able to get the vaccine until the end of the second quarter. the trump administration senior official calling that false saying in fact that they have taken every possible step saying that they didn't make any mistakes at all in the rollout here and they say that there will be enough vaccine for every american to have a dose by the end of the second quarter. the question is, could they have done anything to make sure that that vaccination level was sooner than the end of the second quarter and that seems to be the area of dispute here but the "new york times" saying that the trump administration passed up some opportunities, the trump administration saying that is not true, we did everything that we could do. so that is the dispute and again today it will be a lot about the trump administration taking credit for what is and historically fast vaccination development and distribution
5:38 am
process. >> yeah, actually, you know, world record speed in part because of super computer, sars co cov 1 existed. a lot of stories thank you very much. and the vaccine news plays into the stocks because we can kind of see the finish line out there. the question is this though, are investors getting a little too bullish or maybe way too bull h bullish. and caleb silver is always bringing cool stuff and he is joining us you and i have been doing it a long time. when i see that 77% of people think the same thing, you doesn't help me for getting just a little bit nervous your readers are very bullish. >> they are. and like a lot of investors, big and small, the animal spirit is running wild because the vaccine opening up in their minds the economy and opening up the
5:39 am
markets for bigger profits down the road 77% are expecting gains in 2021. gains are not that uncommon, but 77%, we have 20% of those folks expecting gains of 10% or more so really bullish and they like the home cooking they like u.s. stocks. they think that that will continue with that bullishness, you see it in the individual investor surveys, you see it in the big institutional money manager surveys, everybody a little bullish, sometimes a contrairian indicator, but they are all in as to stocks right now >> you got the fireplacegoing, maybe throw in a brick oven pizza behind you it is the gambler's fall sassy like what is working will continue to work no way the steelers will lose to the redskins what happened? when everybody likes the same thing, again, they may be right, you got smart reader, smart
5:40 am
viewers, they may be correct, but just be careful. everybody seems to be in that same basket. >> right, it is a very crowded trade. it has been a crowded trade all year and that is where the money has been made. except for the past few weeks, as we saw the sector rotation into value and then the mini rotation from value to defensive just over the last few days. but these folks are tried and true, we surveyed them most are out in the southern part of the u.s., most a little older, 55 or older, experienced investors but still think that technology and phrma and health care will lead the gains in 2021 they have kind of been with that party all year and they want to stick with it in 2021 and going forward. so they like what they have seen so far and they look at the administration, we surveyed them back before the election, they didn't care really who won, they thought the next four years would look like the last four years minus the covid. so they continue to think the big gains come where they have been having. big tech, phrma, health care and
5:41 am
that is where they are comfortable. >> and a little washington football team, excuse me, just throwing my age. what are the biggest risks, is the biggest risk policy or is the biggest risk still the virus? >> the biggest risk is the virus. going into the election, it was the election and potential unrest after the election. as soon as we got a few days past that, it was all about the virus. but they got bullish right away. because they felt like the sky was clearing a little bit in terms of policy. they knew what the next four years would look like and lastly it is the virus. that is why this vaccine news is so important but it has been on their mind, the number one dern. and after that, they do think higher taxes are coming. maybe not in the first year or two wrks but they expe two, but they expect higher taxes on individuals and corporations >> all right
5:42 am
caleb silver, bringing the heat literally with the fireplace bring us back a o'keefe print. good to see you. coming up, doordash gearing up for its trading debut leslie picker is here, she will layout whether investors have annual appetite for the food delivery stock we all use it, but does that mean that you want to own it very different things. dow futures down 930 0.
5:43 am
5:44 am
5:45 am
outside of the world advanta vaccines, there are other big market stories out there and they are focused on a couple high profile ipos this week. you have doordash kicking things off as they prepare to price share later on today leslie picker is joining us with more on what we can expect i know that i'll probably get this troubling because i said a burger delivery company but doordash says we're a technology company. is that how investors will frame this story >> that is a good pioint it is a platform company those delivery guys and gals are not necessarily employees of the company, the company itself provides the platform by which contractors can then choose to deliver food to consumer but doordash could be the second biggest ipo of 2020 when it
5:46 am
prices tonight or potentially the third if airbnb's pricing tomorrow surpasses it. snowflake will likely maintain its place as largest of this year but either way, we're looking upwards of $3 billion worth of stock issued by doordash alone a source close to the door tells me doordash will likely price at the high end or above the range. and that would give doordash a fully diluted valuation of around $36 billion, more than twice the level it was valued at in june. and just a reminder, that was just a few months ago gee. throughout the pandemic, the company has been able to show growth at scale. throughout the pandemic, the company has been able to show growth at scale. doordash was able to quadruple revenue during the first nine months of the year and also a profitable second quarter.
5:47 am
we've also learned that doordash is flying a unique process to price its ipo used previously with opportunity is in september. it pulls information from investors about where the ipo applies should price should be and then allocate stock to specific investors they will list under dssh and expected to start trading tomorrow >> let's dive more into the risks. not that i'm skeptical, i know you spend your lights reading s-1st. what are some of the major risks to investors who may want to snap up shares of doordash >> it is a good question i think the key one on investors' minds is the idea
5:48 am
that we may not be able to maintain the growth trajectory forever. you know, people are looking at this amazing surge in salineaals but that said, 2020 is such a oneoff year. the pandemic, you have restaurants closing indoor dining, outdoor dine doodoor d have turned to delivery. there is no denying that so the question becomes, what happens in 2021. you were reporting on the uk administering its first clinically approved vaccine. what happens when a majority of people are vaccinated, people feel more comfortable eating indoors, will they still see the demand for delivery in the future >> by the way, that question can go across everything, whether it is doordash, whether it is amazon be, whether it is goods delivery, there is a group that says delivery is here to stay. we've changed everything there is another group, the camp that i'm in, that says i'll
5:49 am
never order food in again, i just want to go to a restaurant every night when i can or we just kind of go back to the way we were before right? we'll do it again. leslie, thank you very much. on deck, the trends and opportunities in the markets on a major day in the fight against covid-19 the first man to get the covid vaccine is that gentleman right there. and his name, and i'm not kidding, is william shakespeare. becoming the first gentleman to get the covid-19 vaccine shot on this big day in the uk you go, bill to all the businesses that helped us
5:50 am
make it through 2020... thank you for going the extra mile... and for the extra pump of caramel. thank you for the good food...
5:51 am
and the good karma. thank you for all the deliveries... especially this one. 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.
5:52 am
today's focus is on the cost of moving. specifically moving out of new jersey as people head to more tax friendly climates like florida and tennessee. new jersey's population last year was less than in 2018 but while you may save money living in those areas, getting to them is going to cost you look at this, we plugged in three moves on u-haul on the same day here are the costs s summit, new jersey to nashville? $2788 for a 20 foot truck. from new jersey to miami 3550 makes sense. it is further. but the same trip in reverse is just $1427 not quite one third the cost sure, there is probably some extra reasons like truck availability, et cetera that go into this, but the big reason is
5:53 am
straight up demand the demand to rent a truck, pack up and move out of the garden state, new york, connecticut, wherever, is far higher than moving too new jersey or new york so if you are thinking about the move, book the truck now and start saving some cash because as always, the markets may tell the real story of where people want to be random and hopefully interesting. back now to the markets and as investors remain focused on the covid vaccine rollout in the uk, potential fiscal relief here in the u.s. is one of the main factors for stocks rising. and we just had this discussion with leslie picker about doordash and how much the world will really change what camp are you in based on your ownership and your pick, i assume that you're in the we'll actually get out there and do stuff again camp.
5:54 am
>> yeah, first of all, thanks for having me on you know, i'm looking at this as a longer trend because what we saw happening the last 12 months, probably brought our innovation from five years down to one year. so i actually believe that we'll have the reopen trade, but i'm looking at longer trends what we're seeing is the environmental social governance push nasdaq announced that they are going to require member firms to list how many minorities and women are on their boards. first news from tesla on diversity is their report and that made news yesterday so we're seeing the social aspect and the human aspect coming into esg. and then we have millennials millennials are anywhere from ages 39 to 24. and they are starting to form households now we saw that in toll brothers numbers yesterday, housing is
5:55 am
going through the roof and lastly, artificial intelligence with the labor short anlgt. so so we see longer trends. >> a lot of the millennial, you don't want to lump them in, but maybe you don't want to be in a one bedroom apartment your whole life and so maybe the how was hold creation with 85 million millennials will be a massive demographic trend whether or not we had covid >> exactly so what we're seeing is that we're looking at what millennials are buying is where you want to be because they are actually the largest work group now in the labor force. so we're seeing that trend to continue and it will continue on for a number of years. >> and you look at some of the other trends out there as far as esg, you mentioned tesla, and by
5:56 am
the way elon musk apparently moving his foundation from to austin from california so give us another couple names that we can profit from going forward. >> so in-phase, great company, what they do, they do what is called micro in-vventorinventor and they are up 400% since the beginning of the year. and under the biden administration, we think they will do outstanding. and then into the more of the physical service sectors those companies are starting to come up now. and we talked about that around travel the marriotts, the southwest, these companies will continue to do well going into 2021. and then we're looking at, well, what else can really help us in
5:57 am
thisoff all trend. and like i said before, home building we think that that will continue to do well. names like nvr, home builder, we also like just the old fashioned home depot great company, doing great numbers throughout the pandemic and will continue to do great numbers as the housing boom continues. >> degas, we have to leave it there my friend. sadly the bell has tolled for me we have to go to squawk. we'll get you back on soon and talk about some of your infrastructure picks thank you very much for joining us folks, that wraps up "worldwide exchange." i'm off tomorrow so i'll see you back thursday. wknd the gang picking up the coverage next.
5:58 am
5:59 am
6:00 am
sgchl. t good morning the uk began administering doses of the covid vaccine to patients today. a busy week for ipos, we'll get you ready for two high profile debuts and uber is selling its self driving car unit, we'll have an interview with the ceo it is tuesday, december 8, 2020 and "squawk box" begins right now. ♪ >> good morning, welcome to "squawk box. i'm becky quick along with joe kernen and andrew ross sorkin. after a mixed day for the markets yesterday, you w


info Stream Only

Uploaded by TV Archive on