Record Closing Highs for the S&P 500: 70 and Counting? Plus: The Omicron Challenge, Micron and Samsung's Lockdown-Related Warnings and Playing Tesla in 2022.

Scott Wapner and Leslie Picker led off with a look at what's ahead for the markets one day after the S&P 500 posted its 70th record closing high of the year. Scott and Leslie also explored how businesses are grappling with the omicron variant as the U.S. and other countries shatter records for daily COVID-19 cases. The anchors reacted to comments Dr. Anthony Fauci made on CNBC about the reduced isolation guidelines. Micron and Samsung have warned that a COVID-19 lockdown in the Chinese city of Xian could impact chip production at their manufacturing plants. Tesla announces a recall of nearly 500,000 electric vehicles, but the stock is still up 50% for the year. Should you buy it in 2022? Also in focus: Billionaire investor Bill Ackman's tweet about "the Omicron scenario I was looking for."