Check out the shares of five below. We will tell you how low below could go power lunch starts right now and check out where we stand on the s p and nasdaq both in record territory not there just yet still below the key 29,000 level that it hit on friday. Thank you very much, everybody. Earnings season b, thats going to be your top macro story the next couple of weeks it is kicking off in a big way with big banks set to report tomorrow and this could be in some ways a make it or break it for stocks as a whole because earnings are expected to drop on average 0. 7 if they do, that will be the second straight quarterly decline. Back to bob at the nyc its not so much theyre down 0. 7 for the Fourth Quarter thats a concern for the markets because thats largely priced into the market and if we go where we normally go, that wil come up. Well end up to about 2. 5 overall. Its these numbers First Quarter and second quarter. They were much higher a few months ago while its typical for numbers to come down, not when you have a lot of Big Companies at new highs, particularly the super cap stocks and when the valuations are so high, its troublesome. Prices going up and earnings continue iing to come down usuay creates a rather overbought market first thing about the markets today, very narrow Equity Leadership this has been going on for a while but its been getting more concentrated then the priceyness of the mark. You usually look at the forward four corners of this thats at the high end of where its been the last 20 years. Whats narrow Equity Leadership . S p is up 1. 5 in 2020 facebooks up. Alphabet, microsoft, 3 . Amazon, 3 all five, the five largest stocks in the s p are all dramatically outperforming the s p 500. When you get that kind of move up in the biggest cap stocks, super cap stocks, thats going to drag a good part of the s p 500 upside of course we are at new highs on an intraday basis. Again, that narrow leadership and the priceness of the market means an issue thank you very much our next two guests both expect to see the market higher this year in a new note released from btig, chief equity and dr derivatives strategist says the s p could bang on the door of 4,000 this year. Though his overall view is that it might be lower than that. That would be another 20 jump from where we are right now. He joins us along with lorraine gilbert. Julian, lets drill on that 4,000 possibility. Thats not your base case, however, is it no, its 3450, which represents another solid year. To us, 3950, if you look at it, were almost 11 years into this bull mark. Weve seen a will the of elements conspire to send stocks high higher but one thing we havent seen is real public enthusiasm, real public buying, the kind you saw at the end of the 1990s. The kind you saw during the hey day of the housing market. Our view is that in an environment where Interest Rates are likely at the long end to move higher, you could see rotation out of bond funds, out of money market funds where the balances are as high as theyve been since the financial crisis in 2009 and into stocks. Thats what moves you there. The other thing we think is important to mention is here we are in 2020, the oldest baby boomer is 75 and the actual tables are going to catch up with him or her shortly where as the oldest millennial is 40 entering his or her prime income and investing years and theyre underinvested in that case youre also watching demographic, but i want to talk about your price predictions for the dow. You think it could hit 30,000 the first half of this year. I do. I think that happens from the strong leaders already the leaders were seeing like visa, microsoft, apple continue to do well. Those are the darlings and it wont come from the problem children like boeing or walgreens. If you think the market is going to go higher, would you be investing more in american stocks or be look iing at International Stocks thats a great question were coming off a great year in the s p 500, which also statistically tells us we might have another solid year. The its also an election year, which bodes well for the market. Having said that, when we look at whats trading at a premium versus a discount, were currently trading somewhat off of a a premium on our longterm trends if im Underweight International now, youd say whats underweight internatio L International . So, international in general is underweighted in general. For a good 20 , very few people actually have 20 . If im below, i would want to add to get to that are we underweighting the election risks actually, were not and interestingly enough, the way we measure that is we look at the Options Market for signs of a relative henl position. Going out past the election term, the price of downside puts versus upside calls is why people despite the fact that weve moved 30 something percent from a lows a year ago, people are still very reluctantly embracing the idea that the markets going to go higher. Depending on who the democratic candidate is, some of the policy proposals could not be more difficult. Potentially ending fracking. A tax on every transaction on wall street. Im not saying whether those are good or bad. Its an economic thing as we see perhaps Bernie Sanders surge, should investors be willing to accept there may be more risk in the market than there was before not a political comment, just an economic one based on the policies to us, it more than sanders actually surging, what the last several weeks have brought to bear is the market is imply iin its a two horse race between biden and sanders and the rest of the field seems to be lagging behind in some ways, that actually reduces the uncertainty. Though there was no e question that the policies of the two are different. But especially in a place like hemt cahealth care, which has be b the laggard and is cheap relative to the rest of the market we think the premium is already built in sectors you love. Sectors you loathe we love health care and when we look at that, it was lying quite a bit in 2019 until the Fourth Quarter when it somewhat caught up. We still see a will tlot of opportunity there. Sectors i would stay away from would be utilities trading at a premium very expensive there are much better opportunities. People are seeking yield and are doing so in a couple of different areas. Yule tillties, real estate, high yield debt i would say shift was quality at this point quick question to you a sector you love and would avoid. Health care and financials are going to do very well and we would avoid the Interest Rate sector ewe tiutilitie utilities, consumer staples. Over 2 in the long bond yield and the tenyear yield changes the psychology today marks a new era at boeing as David Calhoun takes over as ceo. Hes got his work cut out for him. The company attempts to get the 737 max back off the ground and deals with controversy over emails that mock federal regulators, but it seems he has a clear message for his employees. Phil lebeau with boeings future one reason the boeing board selected David Calhoun to become the new ceo is because he can hit the ground running hes been there. He knows whats good, bad, what works, what doesnt so his busy january includes immediately calling regulators, suppliers, airlines hes already been doing that since the end of december when they said he would be the new ceo. Hell visit the 737 plant in washington next week he wants to streamline the max processes. Doesnt mean theyre going to throw on the work thats been done, but its a primary focus in fact he said to the employees in an email today, look my primary focus right now, getting the max back in the air. Theyre going to be winding down production at the plant b probably in the next week or so. The last of the planes that were going through process when they said they were shutting down production, its almost through. When you look at calhouns resume, remember hes steeped in working with conglomerates, he wants to make decisions quickly and thats what you can expect from calhoun as ceo of boeing. They report earnings in a couple of weeks nobodys expecting a lot from those although tan interesting thing will be will there be an Additional Charge because of all the airlines that said we want compensati compensation there were some out of europe saying we waexpect a bigger chae than the 4. 9 billion. Thank you very much coming up, tesla on a tear trading above 500 up more than 40 in a month. Thats a great year. A great decade for me and we are talking to the analysts who just became the biggest bull on the street then well head live to the Health Care Conference in San Francisco. Exclusive interview with gileads ceo well talk drug preshethic, al care and much, much more sorrow. Its a master stroke of heartache and redemption. The lexus nx. Modern utility for modern obstacles. Lease the 2020 nx 300 for 359 a month for 36 months. Experience amazing at your lexus dealer. And when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk welcome back tesla kicking into not high gear, but maybe another gear all together the stock hitting another new high its at 517 a share tesla surges caught many on the street by surprise, more than doubling in just the last 90 days so last week, we asked some analysts why he and the other bull on the street havent rayed their price targets to match the recent surge listen were doing some additional diligence here in terms of where Technology Positions are across the industry evaluating how that looks relative to tesla, both on the operating system as well as on the power Train Technology and its a challenge for us and when a stock moves 50 in three months or 100 in three months, we have to respond to that and so we want to make sure were on solid ground as we make those calls. Just a couple of days after that, that guy became the biggest tesla bull on wall street, raising his price target to 612 and joins us now. I guess i got lucky. He looked good in that video. He really did were doing some additional diligence. Apparently, your additional diligence resulted in 225 price increase how do you get to 612 . Seems oddly specific one, you want to measure twice an cut once. Were not changing a price target around every couple of months op this one, b we have been doing a lot of work around materials going into the batteries and how that expertise really flows through the rest of the power train. We want to do some checks last week and make a couple more calls. We did that at the end of last week secondarily, were looking at operating systems and how that translates into Autonomous Vehicles theres going to be another it ration on how selfdriving cars evolve another thing were looking at with tesla, they have over 600,000 cars on road so as they take all that data and feed it back into the system, like the last 1 of scenarios that could happen. An elephant may walk across the street what are you going to do youre going to die if that happens. It depends on if the car stops. If its a deer. Also the circus is going b to be angry. How about this is some of tesla, the recent run has been some, the shortages caving just asimon out, crushed, done some of these competitors that efb was everybody was so worried about. Theyre not getting a lot ov love and i realize if they realize teslas may survive. The ones coming out in 2022 and 2023 and how those are e evolving and what were looking at is designs similar to the tesla model three. Coming out two, three years from now. So our conclusion is given some time and tesla being able the to learn from its mistakes theyre going to continue o to evolve ahead of their competition one other point is that china factory came up quickly. First ground to first car is less than a year i think that put a lot of automakers on notice i was going to ask a similar question how far ahead is tesla over its competitors. It seems theyve got a big start and brk, theyve got bran prominence thats really important. I think youre right. Consumers are looking at sustainability and where they spend their dollars and buying things with their values and sustainability is a big trend. Weve kind of yolked that youve got to listen to them talk about their car. A great point because what were seeing on the coal side is companies shutting down because they can reduce the delivery to electricity price so theres a real revolution happening on the utilities side where cost declines are really driving a material change. And that will help. Is there any way to gauge . If gas prices were to spike, is that good for tesla . Sure, i think it drives consumer demand. I dont think people are buying teslas because of total cost of ownership calculation. I think theyre buying them because theyre great cars and theyre the way of the future. Thank you very much appreciate it. Price target now 612 from 385 and the stock is about 517 breaking news from Major League Baseball on the sign stealing scandal involving the Houston Astros lets go to eric with the details. So if youll remember the astros, they won the world series in 2017 and there were reports a couple of months ago said they were illegally saling signs through electronic replay abuses Major League Baseball. Matt complete d its investigation and will fine the team 5 million and suspend their major for the entire season the general manager for the entire season as well. The team will also forfeit their first and second round draft picks in the next two years, but of course they are still the World Series Champions of 2017 they dont have to give that back the league investigated by interviewing at least 68 people including 23 players who admitted they knew what they were doing was wrong no word on what happens to alex cora, who went on to the red sox who won the world series in 2018 there are rumors they were stealing signs as well so eric, big breaking news there. This is sort of the ncaas version of the Death Penalty coming from Major League Baseball if a swrrj hinch is suspended, know what that means is he not allowed in the building, the field, hes on his couch for a year who coaches the Team Remember tep years ago, sean peyton of the saints was suspended. Missed the year, then came back and has been coaching ever since then we are expecting harsh punishment for alex cora of the red sox. Now, so theoretic that the red sox who had maybe nothing to do with this, but because they hired b somebody from the astros, they could get whacked yeah, were going to have to see. They said theyre not done with that part of the investigation so 5 million, that fine, thats the maximum allowed, but if you win the world southeast and this is punishment you get, it might be still worth that trade in the long run thank you very much appreciate it. Five below down more than 10 after disappointing holiday sales numbers. Well get the traders takes on that one also the biggest names in health care theyre meeting in San Francisco today and weve got an exclusive discussion with daniel oday power lunch back after this. Created by apple, not a bank. With a better way to track where you spend. A new level of privacy and security. Daily cash you get back every day. And no fees. Not even hidden ones. Oh, and if you happen to be somewhere that doesnt accept apple pay yet, theres this. Nice. [spokesman] if youve tried colleg group cheering shed, snhu lets you transfer up to 90 credits toward you bachelors degree. [woman] it doesnt matter how old you are, you can do it, you can finish. [spokesman] finish your degree at snhu. Edu and when you open a new brokerage account, your cash is automatically invested at a great rate. Thats why fidelity leads the industry in value while our competition continues to talk. Talk, talk welcome back take a look at discount retailer five below suffering its worst day since 2015 Dollar General meantime is higher on the day. Are any of these stocks a bargain buy . Lets bring in your trading nation team. Boris, i got to assume amazon has really been suing here when you look at five below, great company, great management. Six less days. May have overstocked on frozen, too, which really b didnt help bausz nobody really bought it that much. But when i look at the whole sector, ollies is really doing poorly ive got to wonder, the common wisdom, this business is nonam sonable. All impulse buys but i wonder if were not seeing impulse buys online i wonder if amazon is moving down market. No one in a quarter or two if they can right the s two, a lote ships are going to be strong buys for now, i would put a pause on it just to see how the business goes as you analyze these charts, any of these look compelling to you . The group has been troubled doesnt really stand out for us. Probably the one that does for exposure here would be Dollar General. Dg stock is really just traded sideways for the last five months and thats helped the work off some previously overbought conditions. That sideways consolidation all occurring above support above the stocks both its rising 200 Day Moving Average and the bullish break away gap from august as well would also note that shares rated outperform by oppenheimer analyst, when you add it all up, we see a near tuerm opportunity to buy longterm strategy. Got it. Thank you for your time. For more, head the to our website or follow us on twitter. Back to you. Thank you very much still ahead, weve got an exclusive interview with the ceo of gilead. Were going to head down to the hello care conference in San Francisco to ask about big mergers. Plus, its not just tesla. Apple has a new biggest bull on the street one analyst boosting the price target to 375. Well give you details and wheres the beef why soaring beef prices could become a potential head wind to some of wall streets favorite restaurant stocks. All that when power lunch returns. Welcome back im sue herera heres your cnbc news update the 2020 Oscar Nominations are out and they reflect previous troubliing trends o o a lack of diversity and inclusion. There are no female directing nominees and only one acting nominee of color and a normally warm year could be responsible for 1600 more deaths by injury per year in the u. S. According to a new study researchers say most of the deaths would be caused by drowning, transport accidents, assaults and suicides. The states with potentially the highest number of deaths, california, texas and florida. Jury selection in Harvey Weinsteins rape trial enters its second week in new york. A more intense phase is set to start thursday with lawyers acting more detailed questions about the jurors backgrounds. And good news, no need to wait in long lines for popeyes chicken sandwich this week door dash and popeyes are teaming up to give a free meal to get the dole, enter the code, chicken winner through january 19th youre up to date. Thats the news update back the to you. We went in a month from you couldnt get this food and people were getting arrested for getting in fistfights. Now its just were going to give them away they way overordered inventory that could be i dont know but door dash is getting a lot of publicity for it. So its helping their business and comes with a can of spinach and olive oil. Lets talk markets we are up an every time you go up off a record, its a new record there you go were up 18 on the s p 500 about a half a percent, but still not a bad move for the market overall time for todays power movers first let look at lululemon up 4 . The stock hitting a record high as the company boosted its Fourth Quarter forecast after a strong Holiday Season and take a look at beyond meat. Why not. Now up 40 in the month of january alone and were what, 11, 12 days in the brands ambassador none other than snoop dogg, appearing in a new ad promoting the duncan beyond sausage sandwich and a biomed under pressure getting smoked after its report, also presenting today at the Health Care Conference. Well have more on that company in a moment. Off 12 . Meantime, the oil market is closing for the day. Back to eric how we looking were not seeing record highs here you see this red here, Oil Prices Falling for the fifth straight day wtis longest losing streak since herb early october. Wti also slipped below its 50Day Moving Average for the First Time Since december 3rd. Come as tensions in the middle east turning investors attention back to the simply here in the United States. The aaie expects u. S. Output to average 13 Million Barrels a day. Thats an uptick from 2019 but the pace back to you thank you very much well, today the markets at record highs health care is your worst performing today bio tech stocks weighing on the group. All this, pretty much all the biggest names are in service with at the Health Care Conference so of course thats where we find meg with daniel oday thanks so much and dan thanks so much for joining us you took over in march the question everybody keeps asking, the word around gilead is strategy. What is the strategy you know, the reasons i joined gilead have only been amplified over the past ten months its really important to think as we cross this decade, this is the company that two of the epic medical advances in curing hepatitis c and in taking hiv from a death sentence to a chronic, preventable illness we want to take that same level of high barreltive to science and now apply it to new diseases were talking about the strength and support in our hiv business and the continued innovation that will go on there, but were taking our science now to areas like inflammation and rheumatoid arthrit arthritis. Cancer with our cell therapy programs and looking for opportunities to grow and strengthen in our core strength. Mma is another thing that always comes up. Credit swiss says the Company Needs to urgently invest in mma. What are you look iing to buy we have a strong core business in hiv. Weve got a strong pipeline with more than 15 medicines now in late stage trials, inflammation and in cancer and we want to compliment that with Business Development activities im really pleased that one of the first Business Development transactions i announced since ive come into gilead was a collaboration, a large Pa Partnership with a Company Called galopagos in europe this doubled our Research Base overnight and so i think well continue to look in areas of our core strength for partnerships, for m and a, small and medium sized acquisitions that help supplement our rich portfolio. Sticking with the topic of hiv, the trump administrations Health Department has sued gilead claiming that you u owe it royalties on your hiv prevention therapies and thats even after gilead agreed to simply 200 thourk people with free medicine for more than a decade what do you think precipitated that lawsuit from that Health Department let me say first of all, i couldnt be more proud of the colleagues at gilead that for the past decade, have invented medicines that have both to treat hiv and also prevent hiv this particular medicine is called truvana its for the prevention of contracting the disease. Gilead invented that medicine. We disputed the patents this summer one would think were at odds with the u. S. Government were not. Were at odds around this patent in fact, weorking very closely with Hiv Community organizations and the government to end the hiv epidemic and part of that is the Donation Program 2. 4 million bottles of the medicine and soon to be discovii to make sure we can really stop this epidemic here in United States and around the world. Is the prevention therapy access bable to everybody who could benefit from it in the United States . The prices keep going up here. Another 5 increase at the beginning of this year can enough people get it so its clear by a study run by the cdc, the price is not the barrier to getting it. Less than 1 of people cant afford, they cant afford their medicines or not taking the medicines. So we will continue to support people that are strugging to afford their medicines whats really important here when we look at prep is the ability to individuals who dont have access to the Health Care System last year alone, we donated more than 4 million to Community Organizations who are helping people at risk of contracting hiv get into Community Centers these types of programs are what we need to make sure we can end the epidemic i have to ask you about the 2020 election. Were in an election year. Drug prices are huge it doesnt make sense. The president who it is, whether they majorly impact your business and do you have a reference on who wins. What i have a preference on is that we continue to work on affordability for medicines. Its a real issue. Gilead takes it seriously. The Research Based industry is taking it very seriously i myself and colleagues have b b working with policymakers in washington to look at ways that we can contribute more gilead and other Research Based industries to help patients have less burden and out of pocket costs but, interestingly, a study came out to suggest that around 50 of the cost of medicines goes to payers and Hospital Systems and other people in the supply chain and that number up from around 30 only five years ago so in in addition to what we do as an industry, if we want to solve this problem and we do, we need to get the stake holders from around the table and work with policymakers to make a difference for patients and costs. All right, dan oday, thank you so much for being here with us guys, a lot more coming up from the conference including frances in closing bell. Back to you. Great stuff to look forward to thank you very much. Coming up as we just noted, megs got another interview. The ceo and president of illu illumina the bond market now and Rick Santelli action at the cme. Hi, rick good afternoon, tyler you know, its a big day not so much in the u. S look at one week of u. S. Teps. Hovering at 184. Yes, were up a couple of basis points, however, look at one week of boons. They are moving up much more briskly and with purpose and they closed at minus 15. Open the chart up to may of last year we havent closed at minus 15. Thats the highest, the smallest negative since may and whats really fascinating is if you u look to the u. K. , british rates havent moved like that, but then again, they may have Brexit Issues if you look at france, its rates havent moved up that aggressive but maybe they are just watching and observing because ultimately, much of this sovereign debt will move in unison look at the difference between tens and boons approaching 200. It is close to the narrowest its been since february of 2018 tyler. Back to you. Thank you very much Rick Santelli in chicago the nfl brought in some big ratings this past weekends as games with with the chief, texans, 49ers, vikings, saw their most viewers in years. Well break down the numbers when power lunch returns what a nice play that was. sensei beautiful. But support the leg when i started cobra kai, the lack of control over my business made me a little intense. But now i practice a different philosophy. Quickbooks helps me get paid, manage cash flow, and run payroll. And now im back on top. With koala kai. Hey more mercy. vo save over 40 hours a month with intuit quickbooks. The easy way to a happier business. Seefrom todays weather tong, tomorrows business trends. With esri location technology, you can see what others cant. Seems the nfl playoffs must have been must see tv because saturdays broadcast of the 49ers win over the vikings averaged a whopping 29. 3 million viewers. Julia boorstin now, i guess footballs not over. Not at all. Now the overf all average rate federal government for h week d weekends dwams was 33. 2 million viewers. Up 2 from the same games a year ago and the most watched divisional round in three years. This comes after the prior round was up 7 from the prior year. This all on a regularseason that showed 5 ratings gains over 2018. This is the second Straight Year of gains after declines in the 201 and 2017 seasons the nfl benefitting this fall from high powered matchups and compelling Young Players and the ongoing ratings increase bodes well for the super bowl and for fox, which is broadcasting it this year. It sold out its ad inventory in november with 30 second spots going for 5. 6 million these ratings give the nfl more leverage of negotiations those talks are expected to ramp up this year ahead of the deals expiring in 2022 now the nfls 5 billion in annual broadcast rights fees are expected to increase by 25 or more this according to former cbs sports president so it will be really interesting to see some estimates have between a 25 and 50 increase you get that kind of money, the 5 billion and going up towards 7. 5 billion, maybe even downs ov doubles over that. That means if you own an nfl franchise, there is no way you can lose money, right . Well, look, this is certainly seems to point in that direction. But its really interesting to look at why these nfl rights are so valuable and part of it is the fact that the rest of tv ratings have been in decline so this is a rare occasion to get a captive audience, people who really need to see something live rather than on demand we can talk about the impact of streaming, et cetera, but amazon and perhaps other tech giants are getting into the fray and you know pushing up the value of those rights amazon does own some rights to thursday night games from this past season. Twitter had those rights before so it will be really interesting to see how the tech players push up those price tags. Thanks very much. Heres a taste of some of the other stories were watching right now. Apple at an all time high today as da davidson hiked its price target the to 375 from 300. Thats now the highest price target on wall street. The analyst behind the call saying 5g Technology Gives apple opportunities to reignite iphone growth theres been a lot of talk about how apple has become, how servic services have been driving apple. I would maintain its still a Hardware Company and that the hardware is doipg very well. Think about how many of those ipods they sold. The key is that you can now buy on a monthly basis you dont have to lay out the 800 bucks. You can finance it through their card and one of things the apple analyst likes about this is the apple card seamlessly sort of integrating buy an iphone, get the cash back on your card with the apple card pretty soon, you are just so many in that apple halo. Hes the highest on the street 75 all right, tyler. I know you do. Remember the hummer . Big suv. Gm is bringing it back a brand name with an all electric pick up truck expected to go on sale in early 2022. Sold under the gmc brand one of the four brands gm shed around the time of bankruptcy suh years ago. Plans to promote the name starring lebron james. Back when gas prices were up, people would, you would drive by hummer and give them the one lap to go sign if you drove a hummer, you were kind of making a statement how will the electric hummer go over on one hand, youre a hummer, but now youre electric. They were big, bulky trucks 6 million batteries i dont know how they huge. Would you drive an electric hummer yeah, sure. Why not listen up, ladies a japanese billionaire is on the hunt for a girlfriend to join him on a spacex voyage around the moon it will be the subject of a new program. Here are the requirements. Females over the age of 20 must be interested in going into space. That would be a prerequisite and be someone who wishes for world peace. The space partner will be chosen by the end of march if you are so interested. I guess understanding japanese would be good, too, if youre going with a japanese billionaire, though maybe he speaks perfect fluent english. I said welcome to japanese class. All right in japanese pretty good but if youre a billionaire and you need an ad, i know whats it saying about you sure. Rising you rising beef costs could hurt investors. One analyst says theres still plenty of good stocks on the menu rba restaurant stock picks, wee ck after this. We should have played fly me to the moon after that. Whatd we decide on the flyers again . Uh, fifteen minutes could save you 15 or more on car insurance. I think were gonna swap over to over seventyfive years of savings and service. What, were just gonna swap over . Yep. Pump the breaks on this, swap it over to that. Pump the breaks, and, uh, swap over . Thats right. Instead of all this that ive already . Yeah. What are we gonna do with these . Keep it at your desk, and save it for next time. Geico. Over 75 years of savings and service. Its almost like a mywchallenge everyday to seeey. How well i can eat and still enjoy myself all day long. I wake up every morning to see how much weight ive lost and how much better i look. Myww join today with the ww triple play wall street wants to know where the beef wedbush says it could send a number of investors running to other stocks nick, good to have you with us. Thank you. Whats driving the rise in beef prices . There was a big on pork flu that destroyed a higher number of pigs in china about a year and a half, two years ago that the entire north american supply thats not u. S. Supply, but north american supply so as they struggle to replace that supply, it will have to come from somewhere. Ground beef costs, new zealand, australia, et cetera, were seeing that jump dramatically already. That could have a bigger impact down the road. A pork shortage leads to replace, leads to higher prices for beef what Restaurant Brands are most vulnerable to this what is the increment or the pressure that it puts on their margins. If you think about names like wendys, jackinthebox, all the burger players but like shake shack, finish, they are the ones in the bullseye that could have anywhere from 1 10020 , 30 of their cost of goods sold in terms of food costs are ground beef. 1 to 3 change in marges on that, which you one of the reasons youre favorably inclined to wing stop, and then a second choice. What are they doing right advice asith buffalo wings and others. Their from the chicken category growth, and thats grown more than three times the entire restaurant cad guy. They have the right things in terms of the digital vehement, but 25 to 36 in terms of Digital Sales mixed in just one year thats set to continue i think thats digital, you know, mobile and web orders, and deliveries, so that will drive outside comps. Youve got inpull costs that are actually favorable for them, as poes to do risks for other names. About 50 seconds left you also like dunken is part of your hypothesis there is bringing back will that help or a marginal impact it might have a marginal benefit, but theyre doing a lot of right things to stay in a world consistent comp Going Forward than they have historically its not a heerk leanne effect, but were also seeing pretty decent increase in international comps. Thats a story that hasnt been talk about historically. We think that is going to be a growing focus Going Forward. It should help both. Nick, we appreciate your time thank you very much, nick setyan. Thanks for having me. Check please is next, and you can always watch us on the app, so check it out. Check it out. Most people think of verizon as a reliable phone company. But to businesses, were a reliable partner. 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Closing bell starts right flow welcome to closing bell. Im at the Goldman Sachs posh a brokered upgrade, and ahead, of course, of banks earnings tomorrow we have record highs no the nasdaq, not for the dow, but theres still 59 minutes left in the session. Lets look at whats driving the action today stocks reached new record highs the way the earnings optimism helped and further helping sentiment. Leo hudd