particularly of black americans to benefit rich elite liberals who went to these schools, mega-wealthy donors as well. black americans only purchase 6% of new cars. most would never benefit from the tax incentive. leave the race baiting stuff off-the-shelf. car dealers pushing back on this deal, the entire private sector pushing back on the campaign of a climate utopia. esg trends have reversed. president biden pushing congress to fork over one hundred billion dollars saying the world is watching, it's the same or world that would endorse stripmining, increase pollution, it would harm the world. we are doing is exporting the things we don't want to do to our kids. are the kids in africa anymore important? are the kids in china any more important? 's claim and coming to you. liz: i went to public school and are driving ev. charles: doesn't tell.

how much are you earning? i bet you're earning more than the average black person. liz: the price needs to come down. charles: we need freedom. if you -- 30% of the cars could be gas powered cars none can be. it is not fair to americans. liz: i got to give you a ride in mine. charles: still limping from that, that's all i am asking, come in large. liz: got to work on that. thank you very much. look at this market action or in action as we kick off the final hour of trade. not much movement most of the session, the dow is down one point, the s&p lower by 5 points, nasdaq down 22. you can call them narrow, meager but compared to what else is going on you've got to

see energy treasury yields, oil, wholesale gasoline and net gas diving at the moment. we are hearing from phil flynn that the price of west texas intermediate which closed in regular session today, lowest since june, below $70 a barrel, the us crude benchmark may be plummeting because they are witnessing the saudi led opec and russia, losing control of their long-held power over oil stocks. the slide is super pronounced. crude lost 23%. the us inventory numbers showed a record-breaking 4. 28 million barrel increase in the cushion oklahoma delivery point and 2.83 million barrel increase in gasoline. oil dropping, natural gas in the after market.

let's look at the strange behavior, 10 year yields at 4.125%, stumbled to a session low of 4.1%. we returned to it at 8:fifteen a.m. eastern, we saw the first dip when the private payroll report for november whiffed one hundred 3,000 jobs were created in the month, that is below the 130,000 expected and october's one hundred 13,000. this is the precursor to friday's november jobs report 48 hours away. big tech, this is a story, a day after apple took of four month i reclaiming at $3 trillion market. apple is down 1/3 of 1%. nvidia last what it enjoyed at the open. it originally came as the ceo said the company plans to develop new chips that comply with us export regulations to

china, to stay within the parameters. alphabet can't catch a big break after unveiling its long awaited gemini, it's most powerful ai model, one google person complained it is better than rival chat gpt 3. 5, not necessarily chat gpt 4 but even google is barely moving half of 1% so that ability protector really roar on any headline is slipping at least at the moment. bitcoin still above 44,000 right now even after jpmorgan ceo jamie dimon told the senate banking committee that the government should, quote, close it down. we knew jamie hated it but he said shut it down now. it is a line from shut it down now. the recent melt up in bitcoin,

166% year to date. we will get reaction to jamie dimon's comments from super investor kevin o'leary plus he will reveal his latest global investments and the asset class he says cleans the s&p clock over the longer-term. there's a hint there is a hint in that line. lots going on. we are joined by chief market strategist and interactive broker chief strategist steve size neck. the behavior you are seeing doesn't resemble end of year tax loss selling when people reach into their portfolios and make a big tech in profits. what does it redouble to you? >> it remembers wait and see. maybe santa claus got outpaced, people are expecting a santa claus rally. we got it aggressively. we won't see a ton like we saw

last year because many stocks are up, the most popular ones are up. what we are seeing is consolidation, some big events, payroll numbers friday said a huge tone for market, fomc meeting next wednesday. let's see what happens when we get through that. liz: the data show things slowing, whether it was the jobs report yesterday or today, the adp report, starting to loosen up, not so tight. we also get november cpi next week before the drama so the trend is going the way the fed had hoped is it not? >> worked out exactly. high interest rates, strong black friday sale, year-over-year spending increased but in the end you see the weakness coming through, credit card debt is coming down, the labor market in a number of areas, doing

what the fed wants, wages and inflation coming down, a soft landing as of now. liz: looking at the dow losers, it's all over, american express, intel, consumer names. it is a broad-based kind of day but as you look at the fed meeting, two day meeting the announcement will come wednesday, 99% chance there will be no move on interest rates but the first cut looks like it will come as the market portends but there's an indication of four cuts to the interest rate next year. is that overkill? you have said that is overkill. >> i believe that's overkill. hard to reconcile a soft landing like phil was reporting with the idea we need rate cuts as quickly as march and sustained 2% inflation as quickly as march. hard to prove that. the idea we get 5 rate cuts

over the course of a year. during an election year when the fed doesn't like to fear markets ahead of the election, don't want to be seen as putting their thumb on the scale in either direction. that kind of analysis tells me with that expectation, bond markets are expecting quite a bit of a harder landing than stocks are expecting. this is something we have to resolve, let's see how powell pushes back on that next week. liz: four cuts would be overkill. that is significant. the market supposedly would absolutely love something like that. >> emissions over 65, the recipe for the game plan, they win the battle against inflation. people have got a good job, had been fearful. >> where should people be investing? >> you are buying the crash, companies paying a nice dividend, like schwab in this

market because one of the bank stocks, a lot of them do better. like microsoft, why is a behemoth, defense of type names, microsoft defensive, half $1 trillion in cash, 4% plus revenue, more defenses and offenses. you want good names that can pay a dividend and wait for the first 6 months of volatility. liz: what about you? you look at nvidia. so many people say nvidia is too rich. it has been too rich the whole year and stock goes up and up. >> it did go up, up, and up, until it's earnings, that is around its last earnings which were blowout numbers but tells you how much good news was priced into the stock in the sense we are down close to 8% since then, flirting with the one hundred day moving average,

where we found the stock, that is 450, a breakdown could be quite nerve-racking for the markets and that is why i'm watching nvidia very closely. it has been the stock of the year. liz: that would take you late what you are talking about. >> looks to be a head and shoulders chart, it held barnett line, to 500 but we haven't rallied since then even on outstanding earnings starting to make me worry that too much is priced into the stock. liz: where is the risk? >> a couple of them. i don't love the magnificent 7. it's a great company. you do love microsoft. >> it is defensive. i would pivot and go to amd. in the tech sector, the name that hasn't succeeded yet, you are going to hear just now talking about the next generation chip, valuations are

better, stocks better on the upside, insulated from china, the china taiwan situation is an opportunity to get away from big names because they are too expensive. >> 50% of stocks in the s&p down on the year significantly. the rest of them 150% this year hasn't made any money. here is where you want to be careful. the next 6 months of next year when the consumer slows down significantly, post holiday drag, almost one trillion dollars and it is a slow down, slow down when the fed reacts, how long does it take? probably until the fourth quarter or third quarter but between here and there, slow down, batten down the hatches and be defensive. liz: thank you, happy holidays, guys. week whiskey sales hurting stock at this hour but there is one cocktail in the earnings

report and it involves mixing in a dow component. which one? find out when we talk to the foreman ceo and next. that mixer is in the consumer discretionary select sector, one of the bright spots on the s&p 500 today. "the claman countdown" is coming right back, down flat as a pancake. fresh, warm hot dogs! when i'm not selling hot dogs, i invest in a fund that advances innovations like robotics. fresh, warm hot dogs, straight out of my torso! one for you, one for you. oh, you're a messy one. cool, right? so cool. anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. hot dogs! fresh, warm hot dogs! before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. after last month's massive solar flare added a 25th hour to the day,

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after a revenue miss, and organic net sales growth forecast. the quarterly profits did come in at $0.50 a share but revenue estimated at 1.5 billion came in at one. one billion due to a drop in net whiskey sales but one secret ingredient inside the report may raise investors spirits once they recognize it. lawson whiting is here to help investors along for the moment. not a great day. i thought you were coming to face the music and choosing us for this venue but companies these days are getting harshly punished for chopping their outlook so let's tackle that first. analysts expect 4 to 6 point sales growth. what are the macro pressures forcing you to scale back? >> we scaled it back and took it down two points, not a huge revision but the consumer in the us is the primary. we've seen a slowdown the last for 5 months that we did not

expect when we started our fiscal year so that is a little tough. it has been surprising but things are still overall very good particularly when you talk about our sales are much stronger. liz: to what the attribute the slowdown in the us, is that a customer preference shift? >> a couple things are important to recognize, the slowdown if you are looking at sales numbers. there's a big issue here that hasn't been, not sure was understood as well as we needed it to be. we are comparing against a period last year when sales were up 17%, the highest first half we have ever had so putting plus one on top of that still makes our average 9%. the business is still healthy. consumers still love our brands but the comparison was really difficult. if you look at jack daniels tennessee risky which is our

largest brand, it was plus 18% last year so those things will always resolve in a softer number the following year but to be fair, we've seen in the united states distilled spirits, aggregating all spirit sales, it's dropped a little bit. it come from 4 to 5 range where it has been for a couple of decades. it has been the typical range and it is plus 2. still going get but not the same rate it was. liz: the consumer when it comes to spirits isn't always dependable. remember the hot, hard, what was it called, hard breath cocktails. it was a huge boom and now it is dying out but there is one area that really should highlight certainly, i want to give you the opportunity, mixed drinks, there's a mixer

involving a dow component, people are not necessarily buying the pure whiskey but they are buying the mixer, are there other synergies you can make in the future that can capitalize on something like that? >> they are still buying, american whiskey is still at the top, tequila is the fastest growing category but american whiskeys are second. jack daniels and coke has been around for a long time. this is the most often called brand in the world and has been for a couple decades so two great iconic brands coming together, taking advantage of a trend that's popular in the united states has been a great combination and it is interesting the way we partner with coke, we are doing sales in the united states, germany, and australia where those markets are very large but the

coca-cola company is doing the rest of the world, bringing access into places we have never been. liz: you've got other mixed drinks, part-time rangers that involve gin and vodka-based drinks, that seems to be a revenue driver for the near future. >> it is an exciting space for us. we been in this business for a long time, 30 years. jack and coke is another level, but certainly exciting business. liz: i was at a wedding over the summer and stood in line, there were six people, jack and coke, jack and coke, let's talk about holiday sales. what are you expecting that? there have been some surveys that indicate nonalcoholic and low alcoholic beverages have jumped exponentially when it comes to sales and this is let me test the winds on this but have you and able to model it

for any affect his that the obesity drugs have had on alcoholic consumption? >> we have been asked that a few times. it is early days on these gop drugs but we will have to see. i don't think it will have a material impact in the united states. that seems to be a bit of a stretch but it has only been months since these things have taken off. i don't think that is the factor that has slowed down sales. i would say it is really consumer confidence and consumer spending levels. liz: i really hope you come back. we want to see what the next quarter brings and what next year brings. very interesting to us to see if it is just a blip, a year over your comp issue versus a changing consumer preference. thank you. >> good to be here. liz: thank you very much.

brown-forman is at the bottom of the s&p, look at what is at the top, campbell soup bubbling up. what is driving that start higher? find out next, the dow is increasing its losses. now 31 points and the s&p down 12, the nasdaq lower by 60. reliq health is a digital health company targeting the $100 billion virtual care market. reliq is rapidly growing with customers that include several of the largest and most highly rated health care organizations across the nation. reliq health technologies.

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>> but unveiling its latest called gemini to elon musk trying to raise $1 billion in equity offering for his startup sai, artificial intelligence headlines are pouring forth, now one company is using ai to bring algorithms to architecture and the digital world to design all of the pursuit of the ultimate dream home. gerri willis is in new york city in an apartment that is a real world example, saving some money too. >> reporter: saving some money, you may have wanted to hire an interior designer but couldn't afford it, ai is a game changer. we are in an apartment that is designed by ai. the company is bringing ai to the process of design using the human touch and technology. listen.

>> one of the key applications is creating design for designers. and various styles to generate preliminary pallets and patterns. >> it starts was a q and a of the client and two competing design is competing for your business, furniture samples, and before you buy it. the differences is cost is too big, and $699 for a room like this bedroom here but the other big savings is time because you

are not working with a designer to interview you and put together a list of your preferences. it can take days or weeks to get a design compared to months. liz: i will take that. these contractors and subcontractors take months and even years. thank you so much. fox business alert. the sphere entertainment reaching for the stratosphere after guggenheim raised its rating from neutral to purchase in the fittest price target on the sphere arena stock from $38-$40. it is up 7% at $30.45. they say the next two years will be profitable for the entertainment space as it adds sponsorships and events even with 7% gain, still has a ways to go after the announcement that it is going to offer 225 million worth of convertible notes in a private offering.

it tanked yesterday on that pretty significantly but for the moment it is in the green. weber bush, shopping for shoppers a ify downgrading stock from outperform to neutral and falling 4.4%. the investment firm believes there's little to growth for the company. keep in mind a lot of the growth has already happened, skyrocketed one hundred 7% this year alone. it raised its price target 66 to 68. notice 7155. but it is worth more than that. stifle hiking from $65-$75. investors slurping up campbell soup forecasting earnings for 2024, higher than analyst estimates for fiscal first quarter, the soupmaker beat estimates but the new jersey-based company reported sales fell 5% as private labor companies are grabbing a larger part of the market. the smarter consumer wants

deals but at the moment they are bidding up campbell soup 7% at the moment. uber eats getting into the holiday spirit. look at the screen. the food delivery company will be using a fleet of reindeer robots complete with antlers and red noses, to deliver your take out, don't get too excited, they will only show up in limited locations including los angeles, miami and fairfax, virginia through december. all those lobbyists in dc are excited for that. you should be in new york, in cleveland. clearly uber is sending the message it is the most wonderful time of the year. mister wonderful, kevin o'leary, is here, showing off his fancy watch collection next. he says timepieces are better investment than the stock market.

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liz: it is just below 44,000, bitcoin scaling back. look at that budget is about 44,000 it are hitting 44,000 for the first time since april 2022. one crypto investor says it is best asset ever but it is time to watch another market. mr. wonderful, kevin o'leary, says returns on timepieces have changed the s&p for 8 years and counting. the multimillionaire, are you a billionaire? >> never talk about money. you won't have any.

liz: i don't see on the forbes. a master collector of luxury watches worth $3 million. . his collection includes these fabulous pieces on "the claman countdown". it ranges from $2700 to 350,000, to priceless in the case of one of them. this landed him on the cover of luxury watch magazine featuring a red stripe collection. the o'leary ventures chairman jointly with his most prized possessions and his investment theory that watches the clock, versus the s&p over time and what have you found? >> it's no different than a stock portfolio. you have to choose wisely, select those pieces like stocks. the key to getting access just like an institution gets allocations for an ipos.

if you are a known collector i get these allocations. most recently, the hottest watchmaker is a young man and engineer named simon. there you have it right here. you are holding the ming. that is one of one. i own it now. he sold it to me, made it for himself. that's priceless. unless i sell it. liz: there is only one. what is so great about it? >> look at each dial. we amass a portfolio. when people see that on their wrist they say why is that? it's the ming and that's the uniqueness. people who know that, know that dial. brit, the one beside it, this is off the charts. word got out of 12 master watchmakers, they worked on a separate watch, almost one hundred francs, the average

fr.100, the average was 9 francs. that model gold was handcarved by a woman known to be one of the finest artists in gold. the watch developed, i picked it up personally coming back from the uae. i wept like a child. it was just, that watch, there's only 3 of them. liz: let's get to the prices of some of these, this is you crying on tv when you got it. >> i get emotional, that was 1-of-a-kind. it is sort of, i have a really big collection. i'm a passionate collector, no different than modern art. liz: let's talk about it versus the s&p, he would say this guy is crazy. you will outperform. >> the s&p provides a great return and i own it, 12.23 on average, that's great, nothing

wrong with that. liz: give me an example of the return on one of these. >> fr.87,000, selling currently at 352,000 swiss francs. i'm not selling it but that is what i've done. i would never sell it. if he knew i sold it, if i purchase a building in new york, i will never sell it. it's going to appreciate over time but my point to people is you think of war all, picasso, is a great purchase, start thinking of these 1-of-a-kind riches. liz: a don't necessarily have to be five or six figures. >> it's an entry-level, $2,700 and made of titanium. it's a hot piece because it's a crazy dial. i know all the younger watchmakers and they know me. everyone wants to get a red bag on shark tank. i wore them on shark tank. the director said that's crazy.

liz: 2300? >> trading at 5200. so none of these have gone down. this is entry-level. now at 53. where do you find assets like this? liz: by accident i'm feeling this. this is the rolex puzzle piece, only three of them in the united states. >> you fell in love with that because it matches your hair. liz: it matches my everything. but if you sell this you are blacklisted. >> first time i picked it up, rolex said you can do social media because it was designed that way. i shot it in the meatpacking district but the gentleman said there is an understanding here. we gave one to john merriman and giving one to you. you are different in your space. a guy, musician, athlete.

he let me know if i ever sellers i will never get one. liz: i want to dovetail to bitcoin, 15,000. >> bitcoin many years ago. i was a skeptic in the beginning and understand what it is. liz: did you hear that jamie dimon before a senate banking committee hearing said it is time to shut it down. he urged the government to shut down bitcoin. >> i understand, jamie has never been a fan. bitcoin and the infrastructure are a threat to money center banks around the world. liz: when jpmorgan's ceo says he's not a fan. >> i appreciate it and respect him for it. i don't agree with him on it. he does not have anything the bank provided a return on. liz: here's how he put it. let's listen. >> i'm a poster crypto and

bitcoin. a true use case for it as criminals, drug traffickers, tax avoidance, that's a huge case, because it is somewhat anonymous, not fully, because you can move money. instantaneously. it doesn't go through all the systems built up over many years. didn't get bypassed all that. i would close it down. >> i disagree with him. when you transfer digital assets, digital payment systems, you knew the ftx story. in the uae they've launched a new one but it is compliant over there and owned by sovereign wealth, would they get involved in trafficking, drug money, they don't do that. they say this is a compliant exchange. i flew over there to get shares in it.

imagine if you bought a piece of the stock exchange when it was founded. this is the future of digital payment systems. jamie is right to be concerned. it will kill his margins. if i open an account and want to transfer fr.80,000 i could do it in one second at a fraction of what is charge to money center banks and compliance will show the transaction with regulators on both sides of the aisle. i have one hundred% and own the stocks. i totally disagree with them on crypto. liz: we've got to run but i want to ask very quickly, mark cuban leaving shark tank. >> one hundred%, we worked on this since we were children. liz: since you were but children, try to convince him to stay. >> the stars of shark tank are not the sharks. the reason you watch it is you can't believe what's walking through that door.

i am honored to be part of this global phenomenon and the market is too and we will work together one more season. this show has changed lives for people. liz: we are coming up on an election. can -- kenny land is about gone said he's close to endorsing nikki haley. what about you? >> i'm all about let the market be the market. it is so fractured now, so partisan, endorsing people, i don't think any endorsement matters. it is you as an individual, when you decide who's going to be president, you are going to watch. it will be a contentious election period. it will be fascinating. liz: it will be fascinating. i will let you walk out of here. >> i should talk about watch insurance. wondercare.com. the only one to ensure these

pieces, wonder care let's you insure them for the day, month, week, these are million dollars of watches. these are insured for the next week. liz: that is disrupting the insurance industry. >> one of the world's largest insurers, wondercare.com, we are lighting up the third week in january. liz: good to see you. that is what i'm here for, reminding people about insurance. haley joining 3 others as republicans prepare for the fourth presidential primary debate in alabama tonight. we speak to a local business owner about what he wants to hear from the candidates. a not so small today business owner on the everyone talks podcast decided to quit her job before she started and even convinced her husband to quit his job because she so believed in a concoction she started to

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♪. >> i think we stand a better chance of winning the white house with nikki haley than anybody else. liz: that was ken langone, the home depot cofounder and billionaire. that interview got so much twitter response and heat. some people loved it. some were very unhappy about it but langone says he is just about ready to endorse nikki haley for president. this as haley squares off against former new jersey governor chris christie, florida governor ron desantis and vivek ramaswamy in tonight's gop

presidential debate in tuscaloosa, alabama. that is where grady trimble is to talk with a business owner what he wants to hear from the candidates? >> reporter: yeah, liz. larry: we talked to small business owners across the country over the past several years and several have expressed the challenges they faced during that time with rising costs. of course in many cases they have to pass that on to customers and that's no different here at knight sign industries where cal holt is the president. he also owns two restaurants here in town. you've been juggling all sorts of inflationary issues and you were mentioning just the cost of your materials and labor have gone up substantially. to that end what are you looking for from a policy perspective from a candidate on stage tonight? >> so kind of control so this doesn't continue to go up. have some kind of input from the business world in washington own ways to keep the costs and keep

interest rates from going up. >> reporter: you are an undecided voter, meaning you could still be swayed by any one of these candidates. what could they say tonight that would win you over? you mentioned, you want to keep costs down. i think everyone in the republican party agrees, even democrats say they want to bring costs down. it is a matter of disagreement in how they're going to get there but what are you looking for, particularly i think your business is impacted by metal prices making signage and fuel prices? >> yes. i'm looking for somebody that will step us to tell us what we can do different instead of talking bad about each other. it is time to put all of that aside and do what is best for this country, get control of energy prices, get control of material prices, getting everybody back to work with policies that would help the whole country, not just one party or the another. >> reporter: last thing, liz, he

wrote in nick saban in 2020. >> so important, roll tide. >> reporter: most important two words that you can say in tuscaloosa. liz: what about war eagle? he is not an auburn fan. >> reporter: you're in the wrong city. liz: did i get i am hupp set. grady, thank you so much. that is exactly what kevin o'leary said let people vote for whom they want, let's get together, not so much negativity now. everyone wonders whether it will be negative or positive. next wednesday when the federal reserve makes its announcement, not so much the announcement, we expect a pause in interest rates but when will the federal reserve begin to cut? the market shows a 60% chance might happen starting in march. we have stifel chief equity strategist, barry banister. barry, what are you expecting certainly from the fed?

>> i think powell has alternated between dovish and hawkish for several meet national a row now and i think he may even try to dissuade the market from getting ahead of its skis on a rate cut. at that point, if he makes that point, they were a rate cut would be less likely and we might see the futures bump up a little bit which would be on balance negative for stocks. liz: well you know we talk about megacap, small cap, medium, medium-sized companies, where do you stand on sort of the better investments knowing that one thing for sure we will probably see an end to this rate hike cycle for quite sometime? >> yeah. well, if you look at the overall market, certain groups are going to lead. so what has been leading lately is things that bet on a soft landing with cooling inflation. and that's fine on the soft landing but we think inflation might prove a little stickier than the fed expects.

that pushes you into more of a cyclical value perspective. you've got a decent economy, sticky inflation, oversold banks, financial services, energy, industrials, basic materials, transportation and so forth could get a bounce relative to these "magnificent sevens" which really depend on very low inflation with good growth. liz: which part of the cyclical area, let's just say transportation, which part of it do you like? do you like the railroads, do you like the airlines, the trucking companies? >> truckers generally respond fairly well. with railroads we would look for more on commodities and i'm not looking for a huge increase in commodities. just a bottoming out and a slight turn up. with banks i think the big banks are the safest play for the early part of the rally and then you would migrate into medium-sized banks. so right now we're, we're positive on particularly on the financials and some of the

industrials like the caterpillar of the world and boeings but then at that point towards april of 24 that made might be over, six month trade. liz: six month? that is a short one certainly. as we finish up, do you like this market or would you just leave a portfolio in place as we head toward the end of the year? >> well towards the end of this year i don't see a lot of upside or downside. we had said in october when the s&p 500 was close to 4100 and the nasdaq was down similarly, we said the market would bounce towards year-end and go back to where it was in the middle of the year and that's what it's done. [closing bell rings] liz: it is great to have you, barry. tomorrow, palantir ceo alex cart is here. the markets close lower. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. nobody put