The Dow is holding onto early gains, but the Nasdaq is the big loser today – and the only major index still lower for December. So what’s changed since yesterday? And how do you play this market? We’ll ask the experts. Plus, AT&T is getting a boost today on an upgrade at Morgan Stanley. We’ll speak with the analyst behind the call for 20% upside from here. And, in today’s Rapid Fire: Google vs. Disney, Reddit files to go public, and an under-the-radar restaurant stock gets served some love from Wall Street.

Kelly speaks with BMO’s Simeon Siegel. They talk about how Peloton shares have fallen sharply, just like Simeon warned they would; how that restores his faith in efficient markets; and what it was like for him when they were trading above $100. They also talk about how wholesale is making a comeback as a business model, what that means for stores like Macy's and Nordstrom, and why Traeger grills are actually a good example of that. Plus--the name that Simeon thinks is one to watch into 2022.