control now, control completely of the battery metal ply chain. and is we can't simply rely on them to uphold human rights standards and environmental sustainability standards. so it's important for western countries to get on the ground and take control of these supply chains and set things right. charles: yeah. siddharth, again, i want everyone, everyone to get your book. you've been brave. you've dedicated a large chunk of your life to this. it's heartbreaking, it really is. i think americans spend too much time patting themselves on the back for driving evs. we should all know the honest truth. there's your book, cobalt red. thank you very much. appreciate it. >> thank you, charles. charles: all right, folks. over to my good friend liz claman. liz: charles, are you looking at this move in docusign? it was up about 4 -- 14. breaking news, it's up 111%. why? -- 11%.

in what could be the largest leveraged buyout in years, the e-sing company is apparently working with advisers to explore a sale. dock you sign's market cap is jumping as we speak. right now, and it's a moving target here, but it stands at about $12.7 billion and climbing. people familiar with the situation say there's no guarantee that a deal will be reached, but if you stretch out the charts, you can really see why the pane might be in play. year-over-year year the nasdaq is up 36%, but dock you sign has done new york it's gnat. and remember two years ago shares hit $310 a share but post-covid it has been a much tougher go. stock right now is at a $62.50 a share. all right or or let's get to the markets. we'll get you more on docusign if we get it. right now 7 and 7 is not aing cog tail, it's the performance of the stock market. -- cocktail. as we kick off the final hour of trade on this friday, all three major indices are on pace for

their seventh weekly win. they were heading toward a seventh day of gains fueled by the perception the federal reserve will loosen it grip on higher interest rates starting next year, but suddenly, almost as if on cue, or a trio of federal reserve bank presidents fanned out over the past several hours to temper expectations on the number of rate cuts we could see next year. so let's look at individual indices here. right now the dow is down 49 points. it had been up about 47. so we've seen an 80-plus-point swing. the nasdaq is still in the green, up 33 points. but the s&p is down 8. now, regardless, the whole week has kept investors rivetted and mostly on the buy side. the dow pulling off its own version of lucky 7, lucky 37 wednesday. the blue chips blasted through 37,000 for the first time ever after fed chair powell set off a sonic boom by intimating that the central bank was gearing up to at least talk about interest

rate cuts next year. any gain today on the dow counts as another record close. we're still above 37 as 37,199. but let's look at the s&p intraday specifically, because we've kind of seen it, watching it teetertotter back and forth across the flatline. right now down 7 points, nevertheless, breaching the 4700 ceiling. and this week it has gained about 2.3%, just shy of the dow's 2.6% gape. now, the nasdaq -- gain. the nasdaq is fleshing out gains in this final hour, about 36 points to the upside to bring upside moves week to tate to 2.7%. but it is those of you who invested in the russ are el small and mid caps at the start of this week, if you did, who are yelling jackpot. 5.3% this week, but even more impressive since just the start of this month, december, the russell 2000 is clocking a moonshot of 9.5 president. so why are we actually seeing

the red reversal right now? atlanta fed president rafael bostick telling reuters this afternoon, quote, rate cuts are not an imminent thing. and then he went on to say that assuming inflation continues to cool, we could get two the cuts 2024. the first time probably sometime in the third quarter. now, we still have big market movers holding on to gains no matter what he said. gotta start with intel at a new 18-month high of $45.93 here. that's a is.of -- 1.66% gain. look at the move the chip maker made on wednesday. just as a ceo pat get sinker joined "the claman countdown" to outlewin how the new my cochips will turn pcs into hardware of the future, week to date up 8% and shares have cat catapulted 29% this quarter alone. we've got to give props to cybersecurity names that a began

saling to record highs back on tuesday as web bush analyst dan ives unveiled his late est note on names he likes here on tuesday. palo alto networks and cyber arc, he says, will benefit from massive u.s. government spend anything 2024 to protect systems from hacks. we're looking at two all-time records for palo alto and cyber arc. but a few warning signs coming from etsy and citi about this week about a possible economic slowdown. and we can throw general motors in there, all either announcing or filing fresh layoff plans attributed to scaling back certain divisions due to slowing demand or restructuring. gm if today revealing it will lay off 12300 factory -- 1300 factually jobs in michigan. stock market showing -- factory jobs in michigan. what do we have, how much higher will it go? deutsche bank chief global strategist is making a call for

a 2024 year-end target for the s&p of 5100. he's joining us right now with trader keith fitz-gerald for the friday floor show. binky, great to have you here on set. rafael bostick sees two quarter-point percentage moves, cuts this time, next year. but it was kind of strange to see that he and john williams of the new york federal reserve along with austan goolsbee of chicago fed all coming out in the last couple of hours to say, well, don't get too excitedful. [laughter] >> so what i would point out is that it's very important to keep in mind that what they gave us and the fuel that was provided, basically, is coming from the dot plot. the dot plot is where rates will be at the end of the year. end of the year is 12 months away, and i would just, you know, put a little perspective on that time. so three months ago, you know, that same fomc ghei us a very different message -- gave us a

very different them. two weeks ago powell gave us quite a different message, and we got yet another message on wednesday. so i'm simply trying to say that there's quite a lot of time out there, so there'll be a lot of water that flows under the bridge, and there's a lot of things -- liz: are you picking two cuts or three for next year? >> neither. i'm sort of very hesitant in expecting cuts -- liz: really? >> because there is in their dot plot along with their dot plot is also a macro forecast that includes a slowing in growth. if you look at the macro consensus with economists for the last year and a half, it's been looking for a slowing in growth that hasn't happened. so if growth is fine, you know, maybe we get 25 basis points, maybe we get 50 basis points, but has been very solid. it's been running bo trend -- above trend for phi, six quarters now. of course, the third quarter was very, very strong. but if you look at a, you know,

what i think is sort of the base of gdp, personal consumption expenditure, 70% of u.s. gdp is growing steadily trend-like. there's no reason why it shouldn't continue. it's been doing that for three years and for five years before the pap demick e. liz: -- pandemic. so austin goolz by saying today that, yes, he probably feels that if inflation would continue on this path, that we will see a rate cut. but he also said i would support a rate highballing if necessary. hike if necessary. we should look at the 2-year and 0- year yields. the 2-year in particular because the 2-year closed yesterday at 4.399%. that is way off where it has been. >> sure. liz: now it's at 4.46%. so it is suddenly moving to the upside on that news. you can see the intraday where it spiked just as all the fedheads came out. it is at the moment at 4.46, up about a 7 basis points.

do you like any part of the treasury yield curve? >> so i don't have any strong views there. what i would say is, you know, the important thing to keep in mind for equities and rates is that the story of the last year and a half if has really been about rates volatility rather than the level of rates. and so, you know, hopefully the fomc finish. [laughter] it has been doing that but, hopefully, it will not create too much volatility. now, you know, we are talking about things that are way town the road, and so -- down the road. and so, you know, the ranges for the possibilities get wider. and so hopefully, you know, they come to some sort of agreement in terms of what they're talking about because, you know, huge hikes and no hikes and maybe, you know -- liz: well, you're neutral on technology. keith fitz-gerald, our trader, is not neutral on technology.

keith, let's bring you into the conversation here. and i've got to point to intel because intel has been an absolute banger or this week and, or quite frankly, year to date. i wanted to play something because you can't ignore the power of just bringing up a.i. and any plans these companies have for a.i. the ceo of intel on wednesday, here's what he said. >> imagine your next zoom call with an international audience where you're getting realtime the transcription, translation, you know? body and nuance, contextual information all because of the a.i. accelerator inside of the pc. we're going to deliver hundreds of millions of these devices. we already have over a-up different application developers who are signing up to be part of the a. i'm sorry pc -- a.i. pc efforts and making it an open industry as well because i don't know what all the innovations are going to be, but with i can tell you, i'm going to be the platform that enables those innovations to emerge. liz: keith, did he swing you away from nvidia? you've got a love affair with

nvidia, over to intel at this point? >> well, i've got the tell you, i think mr. get singer is spot on. a he's the right guy in the right seat at the right time for intel. what i worry about is that this is a repeat of many of intel's earlier success ises. they're rye thing to be all things to all people whereas nvidia and amd are very, very focused. so i worry about the focus. i'm not in intel, i don't own it, i probably won't. i am going to stick with nvidia and amd because of that. liz: well, to be fair, they're pretty focused on pcs -- >> that's the problem. liz: keith, i'm dying to know specifically which ones you still believe in. you've been bullish on palantir, and it's had an incredible year to date run. >> well, thank you for remembering that. it's very nice to hit one out of the park ever now and then. i still am bullish on that one. i think that company is still getting started. the problem is that people don't you said it, they simply can't

wrap their mind around a.i., consumers don't get it yet. that, to me, smells like opportunity. i think it's a $50 stock a few years from now. liz: i swear i just saw a bird fly past your head if that's a live picture. i've got binky here, binky, give me your s&p target. you had said 5100 just a couple of days ago. are you still solid there? >> still solid. that is our baseline view. what i would emphasize is that it's based on our current economics forecast all to the whereupon side that we seized really coming from earnings, and our base case, you know, includes our u.s. house forecast which also includes a recession in the first half of the year. and given the sort of macro environment that a we've been in for the last year and a half where i would say all macro forecasts including those of the fomc have been very, very fluid. i think you've, therefore, got to consider the range. i would say deutsche bank's

house economic forecasts are below cop census, so that house view gives you $250, but macro consensus which is pretty negative but it's still a little bit higher than deutsche bank's, that would give you something close to $260 for earnings. and if you think that macro growth is going to be kind of like what it's like for the last six quarter withs, you're talking about $2770 and then 5500 on the s&p. 5100 is my base e case, but both the macro consensus and, you know, the growth that we've are had -- had for six quarters, you cannot just rule it out. it would give you a lot more. ly e les you've not to come back, because i want to follow that if it hikes from 51 to 52, maybe 5 # # # -- 55. keith, thanks so much. >> thank you very much. liz: warm tailwinds have led to a crypto winter thawing year with the potential approval of a

spot bitcoin etf and if interest rate cuts maybe in the works although binky doesn't think so. what does this mean for bitcoin prices in 2024? crypto wunderkind brock pierce gives us his prediction. he's standing by live. plus, what impact will the sec dinging coinbase today, did you see that? what impact that have on crypto regulations? the token itself not the only crypto asset rallying this year. look at the crypto stocks. riot blockchain up 3660%. -- 3600%. marathon going nuts, up 429% -- 3600. and coinbase, by the way, has vaulted 318%. "the claman countdown" is coming right back with brock pierce. so glad you guys are all a hanging with us this friday afternoon. ♪ ♪ is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position

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liz: today the securities and exchange commission denied a petition by coinbase for specific crypto regulation. the regulator slapping back at the largest crypto exchange in the united states saying there is no reason to craft new rules when the existing securities regime is appropriate. regulation woes aside, it has been a spectacular time for investors who bought bitcoin at the start of the year. the crypto's 2023 gains, 15 4%. so bitcoin by far and away is the best performing asset of the year. it beats out orange juice at a number two, cocoa at number three followed by the nasdaq 1100, nasdaq composite, russell 1000 and the s&p 500. but let's bring it to bitcoin in 2024. let's bring in the bitcoin foundation chairman and a very early investor in bitcoin, brock pierce.

he's here in a fox business exclusive. brock with, first, let's -- i gotta get your reaction on the news. this is kind of a head-scratch iser from the sec. it won't alterer its current regulations on the crypto industry, but at the same time it stepped on the industry's air hose saying it's the wild and too dangerous for average investors. what do you make of this? >> well, first of all, the wild with west became california, so don't discount it and disregard it. [laughter] the wild west is important to us. and let's make sure that we win in the wild west and that america is a participant in this and a beneficiary of the innovation that's changing the world, you know? the american dream, what made america great, our ingenuity. so this is a really concerning event again from gary gensler and the sec. one of the problems we have is the top american businesses on the forefront of this industry continue to leave in droves because of the lack of regulatory clarity. they want old laws that were

designed before the internet to basically govern us during this time of great transformation, during this fourth industrial revolution, and we need rules that are current for the current times that apply to the technology it is that are changing the world whether it be a.i., blockchain. the world is changing rapidly, there's no question innovation is responsible for a lot of it. and america needs to lead and not be left behind, and i think this is a terrible event to, again, provide regulatory ambiguity that allows the regulators to enforce without legislation. i hope congress does the what thaw need to do here. liz: well, i love your term bespoke regulation. and what's out there right now is arguably dated. bring it up-to-date on where you believe bitcoin will go in 2024 and whether you see an approval of a spot bitcoin etf. >> well, i mean, it looks like it. i don't think the call it endemic try could have delivered that sort of result.

but once once the largest banks, you know, got in and once now i the largest financial institutions like blackrock are in and pushing for this, there's enough consensus between the new and the old that i have to think that this approval is inevitable and just a matter of time. again, i can't say with certainty, but that would be my prediction. there's too many big players and innovators all in agreement and supporting this. and, but it's worth noting that the winklevoss brothers and others have been trying to do this for ten years. liz: yeah. >> the sec has prevented this etf from existing at the expense of the american people. back when bitcoin was $100 or $200, it could have been made available to retail investors through their brokerage accounts and whatever, they could have done that, and the american people would have been the biggest bicep fisheries of this incredible wealth-creation event. and because, again, the sec, the american people have been deprived of that opportunity. liz: so many things i want to ask you. one of them is that on wednesday

when stocks went parabolic, so did bitcoin. bitcoin roared higher on wednesday as did bond prices. a lot of asset ises just started floating higher. in 2024 do you think that bitcoin is going to move in lockstep with any specific asset class? >> well, we've seen correlation. i mean, one of the promises of bitcoin in this technology is to become an uncorrelated asset class. but to date, that has not been the case. the markets seem to move together and and so if i had to guess, i'd say that will continue to be the case despite the promise being that they will eventually decouple. i guess that will happen at some point, but i don't want to predict that happening because i would have been wrong all the last times. so they're most likely going to stay coupled for the foreseeable future though it is likely at some point they will decouple. liz: i know jpmorgan because

jamie dimon of jpmorgan hates crypto, but -- and they are considered sort of the dad jeans of the crypto analysis. but they believe that ether might outpace bitcoin in 2023. and i think that's interesting. i'd love to know your thought. they've released a note this week saying that it had a good 2023 but could outperform bitcoin. do you think that's possible, and is there a reason for that? >> well, it's possible in that etherium has a broader sort of prop if decision in terms of -- proposition in terms of what can be built on it and how it can be used. though bitcoin has clearly marked its territory as an alternative asset class like a digital gold. the value proposition being much simpler, and i think it's here to stay at least for the foreseeable future. etherium has a lot of competition. you have a lot of other blockchains that are offering a

similar value proposition. etherium, obviously, is the mark collieder in what it is that they offer -- leader. so i think their future is less certain, but the potential and promise that they offer in many ways is greater than bitcoin, so jpmorgan isn't wrong conceptually, but time will tell. we will see. liz: it is so lovely to have you, brock. good luck and have a lovely holiday. and thanks for all your generosity. you've been handing out toys to the disabled children and to all kinds of kids who really don't have a lot of hope, and bless you for that. liz: happy holidays, and for everyone in the crypto community, came right on time. liz: thank you so much. well, this may have been a miracle on 34th street, but on madison avenue some luxury retailers may be looking for a different kind of miracle this year. we sent madison alworth there to tell us if she sees holiday shoppers pinching pennies or opening the wallet just ten days til christmas.

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start today at godaddy.com as an independent financial advisor, my promise to you is simple. as a fiduciary, i promise to put your interests first, always. i promise that our relationship will go well beyond just investment decisions. it's the intersection of your money and your life where we can make the biggest difference. [announcer] charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com liz: e fox business alert, boeing is surging to the top of the dow blue chips right now. it's up 32.5% at the moment to

$262. that's a 3-year high on a ubs price target hike from 275 to 35 is. the swiss bank has a buy rating on boeing, they've reaffirmed that. the stock is tracking to close at its highest level since march of 20211. we've got the clouds lifting on solar stock after a brutal year. jeffreys sees positive cat lists for the sector heading into 2024 after the fed signaled rate cuts next year, calling for investors to get aboard the solar coaster, initiating a buy on first solar with a price target of $211, right now it's up 6% on that call and $167. .57 a share. we've got sun run up 32.7%. enphase gaining 3.75%. also standing obviously to benefit from higher rates from utilities, and we do have, you know, some of these names looking pretty solid. scholastic getting an f from

investors after the publisher and distributer of children's books posted a year-over-year decline in revenue. the stock is tanking is # # 11.7% at the moment and scholastic trimmed its full-year forecast. darden restaurants as -- at this hour on the move after the olive garden owner posted a small miss, or full-year sales outlook came in below analyst forecasts, did, however, beat on second quarter adjusted earnings. and a star of the day has got to be costco, sitting near the top of the s&p 500 and the nasdaq. hitting a record high after it beat on both the top and bottom line estimates. we have costco up 4.75%. is that session high? pretty much close to session highs. $660.55 a share. by the way, costco was always a favorite of charlie munger, the vice e chair of berke her hathaway who just passed away a week or two ago. the wholesale retailer also

declared a $15 specialtive dividend. costco says higher borrowing costs have pinched household budgets leading to consumers shops for -- shopping for lower priced groceries and other items. and some of those items were actually gold ingots. yes. costco selling gold ingots, two per customer. while costco flourishes, the luxury goods market, well, is it on firm ground or starting to wobble? barclays said luxely sales lid more than 15% annually in november even though hefty prices for handbags don't seem to be slipping. take a look at some of the prices of the purses fashion trade patient women's wear daily is suggesting for their holiday wish list. they range anywhere from about $1,550 to well over $5,000. and that does not even come close to an hermes birken bag which can cost anywhere from $10,000 to $2 million if. okay, my pens leak in my purses,

so i'm not buying a $2 million purse. madison alworth is live on madison avenue, the home of all the big brands. madison, what are you seeing with customers? >> reporter: you know, what we're seeing is that customers are in the holiday spirit, but they are not willing to spend on luxury like in years past. when you take a look at all the major retailers like shares of burberry, lvmh and karan, all are down over the last six months. it makes sense when you see, as you mentioned, that luxury sales slid 15% from last year. and it's not just the american shopper that is driving this problem. >> and what's normally offset when customer counts are light across america is that there's a big luxury shopping contingent from russia which isn't here this year, big contingent from the middle east for obvious

reasons not here this year. >> reporter: but looking at the retail landscape is, sales grew last month if up 0.3% in november month over month, surprising economists that expected that number to fall. in order to make those purchases, people are putting it on plastic. credit card debt has soared to $1.3 trillion nationally. that's the highest it has ever been. if back out here live, these brands on madison avenue don't normally run sales, liz, but what we are seeing is that both luxury as well as your middle of the road retailer, they are running inventory excess. right now this time of year you expect inventory to be balanced because of all the holiday shopping. we're seeing on average that stores have 10-15 excess. that is good news for last minute if shoppers because we're hearing that could mean really good sales into the final days leading up to christmas. liz? liz: well kevin o'leary, mr. wonderful, says -- he's

right, you can't get your hands on a rolex. so there's got to be money out there somewhere on that end, madison. thank you very much. madison alworth on madison avenue. and, by the way, when you walk down madison avenue, you guys, the smell is amazing. they're pushing out that fir smell from all the stores. how much do you think soccer lionel messi's world cup jersey's just sold for? if you're going to find out. and forget the jerseys for a second, one egyptian billionaire is buying an entire team mohamed monsieur is leading the way to bring major league soccer to one city in california that he believes is dying for it. sand a yea go -- san diego. he's joining us here in studio live next. and from, you know, soccer to running, you've got to hear the inspiring journey of a boston marathon bombing sur is strive who defied the odds. he was standing right next to second of two bombs that went

off near speck today or to haves at the boston marathon ten years ago. he nearly died. he was the last one of all of those who were injured to get out of the hospital. it took months for him. he lost limbs, burned over his body. well, or now he's back out on the road, and he has the most inspiring -- he is the most inspiring guy you have ever heard. he is helping others who have suffered these kind of injuries to do the same. on this week's edition of everyone talks to liz podcast, hear his story of resilience, recovery and his totally unstoppable spirit and humor, you know? it's unbelievable. and it's the kind of story i think we all need this holiday season. you can hear it wherever you get your podcasts, apple, iheart radio, google, i hope you listen and let me know what you think. we are coming right back. the dow down 38 points. don't move, we're talking major league soccer and the teams and the prices. ♪ ♪

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liz: we were just talking about $50,000 purses? well, let's talk major league soccer jerseys. the season may be over, but the messi i effect is hotter than ever. six jerseys won by soccer star lionel messi during the 2022 world cup when he played for the argentinean national team just sold for $7.8 million at sotheby's auction house in new york. [laughter] that is the most expensive sports memorabilia sold this year. now, the excitement around messi coming to america to play for inter miami turned into tangible profits for major league soccer teams this year alone. l.a. galaxy, lafc and atlanta fc cracked the top 20 most valuable soccer clubs in the world. last year no mls teams were on the list. joins us now in a fox fox

business ebbs collusive is a businessman who's investing half a billion into starting a team, the san diego fc, egyptian billionaire business match mohammed monosour. great to have you. >> great to be here. liz: major league soccer is just shooting like a sol day know, these team values. why are you interested in taking a team to san diego? >> well, soccer has always been in our blood. my if uncle played for egypt in the second world cup -- liz: oh, my. >> as a goal keeper. he was my mentor. and we've been interested, we bought the right to dream academy is one of the great academy in the world which started in subis saharan africa, grew to denmark and now we're in san diego with the partners with a native american tribe, and this was the first investment -- usually invest ifments in soccer were happening from the u.s. in

to europe with english teams, italian teams, spanish and friend. now, this is the first time -- french. this is the first time to do an egyptian and european citizen is buying a club in america. and the reason we're doing it, i just think it's the tip of the iceberg: i think the mls will grow. i think it will be successful. i think the messi magic has just, you know, increased it incredibly. so we're very fortunate. we signed with m if ls back in may of this year, and since then i think the valuation of all the clubs has gone up. so we've been fortunate. we broke ground in san diego two weeks ago, and we should -- we're creating this acad amy, or building the academy, and we're going to invest more in players. we've hired the first home grown mare as a goal keep or from san diego -- liz: oh, nice move. mohamed. that's a good move, i like that. so you're a businessman, obviously, you made your money in high finance. you wouldn't do this if it

weren't a smart investment, correct? if when would you expect to see, a, the team hit the grass and start playing and compete and, b, making money? >> i think we, that we'll hit -- we'll play next on 2025 season, we'll be in there. of course, we start getting the players, the management is in place. we have the location, we have the stadium, and we're ready to start. i think valuations now i think will grow over the coming years x. as a you can see soccer, i think, will explode in america. liz: you just called it the messi magic and, of course, i mean, miami has just been vibrating since he came. what if he retires in his contract is up in a couple of years. do you suspect that the messi magic would kind of lower, you know, its brightness? how important is he as an individual player? >> well, he is the greatest player, in my opinion, that's ever come, played.

so i believe that the future now is in home grown player in the united states. there are about maybe 60 million fans in america today. and this will grow. knowing american athleticism, i can see soccer becoming one of the major sports. this is what we're banking on. this is what we're investing in. liz: i have to ask you about evs only because you have invested in the idea of bringing ev cadillacs to egypt. lots have changed in the last couple of month months where general motors is scale back some of its production but not like ford. ford is cutting it lightning production in half, but are you still on track and still as invested and interested in bringing evs to the middle east? >> yes, i'm really looking into it because renewables and evs are very important for us. this is one of our major investorsments that we have because most of them are investment-driven. we're talking to the government

now about starting a factory, you know, general motors there. we're talking details. and eventually i hope this will come to fruition. liz: thank you so much for being here, and i'd love to witness soccer in san diego. >> well -- liz: that would be amazing. >> it will happen. liz: stay classy, san diego. [laughter] with mls. thank you very much, mohamed mansour. elon musk's mother, may, ripping into president biden after the fcc declined to give starlink nearly a billion dollars in subsidies. one fcc commissioner is speak out, and charlie gasparino is about to break the news next. and take a look at the bottom of the dow heat map, lang wishing just about a 19 -- languishing just about 19 points at the moment. we do have the one name that is pretty much the worst performer, verizon. i think it's the verizon, right, guys? um, but in the mean if time, boeing and intel, crm, microsoft and american express are moving

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i'm a little anxious, i'm a little excited. i'm gonna be emotional, she's gonna be emotional, but it's gonna be so worth it. i love that i can give back to one of our customers. i hope you enjoy these amazing gifts. oh my goodness. oh, you guys. i know you like wrestling, so we got you some vip tickets. you have made an impact. so have you. for you guys to be out here doing something like this, it restores a lot of faith in humanity. i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier.

get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. liz: look at this, the dow far right, you can see it turned

positive and right now it's outdoor suddenly up 72 points and any gain is a record. the s&p popped back goo the green about 4 points and 72 and so much for fed heads trying to talk down the market or the rate cults in the future. wait. >> i'm going to wait. liz: federal communication said it will not award elon musk star link 900 million in subsidies to expand rural broad band and it's causing consternation, at least with his mom. >> do you feel like smacking me? do a power slap. i'll be rushing down here. here's what we do know, i've been speaking with a lot of people at sec and different federal agencies and they're not all democrats in the bureaucracy, you should know. this is more about strategically attacking elon musk through the federal bureaucracy than it is

like just let's wipe down everything. again, you know, he's facing multiple probes. biden, joe biden has actually come out and said nasty things about elon musk. he believes robert f kennedy jr. came out yesterday and said this is targeted harassment. it is and isn't. when you really impact this and i spoke with a lot of people, it is targeted. they will screw with him on rural broad band, they'll screw with him around the edges of regulatory issues involving tesla and whether he should tweet or not involving tesla and remember there's that's who settlement he got for talking up the stock. they're not going after him on defense contractors, they need some of that . they need that defense stuff he does with various his various contractors. liz: they have thousands of satellites in the sky.

>> they want more of the evs and for narrowly targeted and targeted to mere regulatory infractions that sec can impose on the management of tesla. it's not like existential. and they're going to go after him on this broad band. sort of odd thing about this is it does kind of underscore the sort of class warfare that the biden administration doesn't realize it's getting into. it won't screw with him on evs. who can afford evs? rich people like us. not me. maybe you. liz: crisis starting to come down. >> rich people getting ev and broad band for the average folk. that's where they're going after him on. the stuff that screws average people. liz: dumb. >> i think it's dumb. there's not much of a resource legally. liz: part of it may be that there is question about the power he has in this massive communication system, but he built it from nothing. >> yeah and it's given someone -- listen, amazon has a

lot of power. conservatives hate it. amazon is one of the best press things in the world f. you need tooth paste, comes the next day. a weight lifting belt, next day. athletic greens, next day. liz: small business access. >> has theoretically monopoly and same thing here. you're giving working class people access to cheaper stuff. that's what he's doing. liz: if you don't want a monopoly, lose the regulations on these. >> you sound like me. am i rubbing off on you. liz: oh my god, help us. >> liz claman sounds like a born again paul ryan, charlie gasparino. liz: bill weld. liz: i like social centrists. i don't want to sound like you. fed chair jerome powell improved

his tone on inflation and that doesn't mean we're entirely out of the woods. which part of inflation is not coming down enough? here's what blackrock guru rick rieder told the claman countdown yesterday. >> service level inflation, there's insurance, healthcare costs, medical costs and pretty hard for the federal reserve to bring it down. my sense is you'll get into we think core pci in january and getting into the 2s. that's a pretty big deal. the trajectory in the right direction. liz: january, okay. >> by the way, by the end of the year, the fed's forecast as well is 2.5%. liz: bring in brandy wine global portfolio manager jack mctire looking at services issue. what's the tried agreeing with rick rieder or do not. >> i do. this is a process and goods deflation and housing is coming down, if it was more reflective

of market it would be down more and remember services are the labor intensive part of the economy and you need to see weakness in the labor market and becomes self-fulfilling and start to see even more weakness in the services and again, i don't think there's a lot of pent up demand for the type of services for restaurants, travel, you know, that sort of is working its way through and post-covid, but the way to play it is just pretty simple, u.s. pressuring treasuries and i'm surprised i have to baffle a bit. the fed and powell got a little ahead of themselves on what to expect that press conference or shifting towards being a bit more doveish rate cuts in march but inflation is heading lower and the last leg, it's that last mile, liz, of inflation and there'll have to be a bit of economic pain in the service sector to get us there. liz: what do you make of this dow record once again, third in a row, stocks like the message

from the fed. >> this is like eating cotton candy and tastes good but there's a wakeup call into the new year. i like bonds relative to equity and there's a chance it takes a recession to break the back of inflation. it's not great for equities but it's a soft landing scenario and equities will do well but so will treasuries. treasuries is the leading market that will drive the direction of equities. liz: okay. jack, it's lovely to have you. thank you on this friday. what a week, everybody. it is a record for the dow. driven by boeing and intel both hitting records. mondayne talking about her outlook on ai and more. we'll see you then. larry: hello, folks, and welcome to kudlow. i'm larry kudlow. all right, fox i