charles: all right, i've got to ask you about this. i'm reading about gen-zers being afraid of big men yous. it costs too much, they don't have the right kinds of foods. i mean, it's, like, 80% -- is this real? start with you, is this real? >> yes. the menu ang a psity is real. [laughter] finish frankly, i don't have it because with i love to eat and i go into a restaurant, i know what i'm looking for, but people do have anxiety because i think there's less of a push for people to speak for themselves. of chas khairallah that's weird. evita, have you seen it? >> oh, yeah, i've definitely seen it. i think we're infantizing young people. also covid where people had to dimmingtize their whole world played a big part, and it's a real problem. charles: all right, ladies, that was great fun. we'll try to make it -- give it a little bit more time. you know, liz claman, i hate those old diaper end menus that haven't been changed in a few years, i do have anxiety about that. [laughter] his liz i have no menu anxiety

or, especially lower when you get to desserts. charles: i hear you. liz: except which one do i choose. charles, happy holidays. where did the time go? if it's the friday before christmas, 2023, and look, the weather forecasters said no snow in new york city and yet it's snowing courtesy of our wonderful tech department. and team "claman count countdown," by the way, the best team in business news working right alongside you guys at the moment. in fact, let's show you a live picture of our control room. that's brad, melanie, finley, brooke and our director anissa, plus managing editor -- hi, you guys! luis and e lap are in there helping out with tech and a happy, happy holiday to all of you guys. you make it all happen. here in midtown manhattan, let's bring you the big, breaking business news with 59 minutes left to trade until markets reopen next tuesday. we are looking at a very wobbly dow jones industrials. just a minute or two ago, it had

dipped into the red are. it's up about 8 points, earlier it was higher by 130, so kind of lost all of that. the s&p is up 101. we've got the nasdaq gaining 311, and the russell 2000 -- 31, and the press all -- russell 2000 up 18. the dow just turned slightly negative. any of this could change this map shot, but it would take a pretty decent-sized reversalal to shake the majors off what right now looks like the eighth week in a row of gains. nasdaq looks to close out the week up about -- actually, that's since october? if that's since october. but for the week the nasdaq looks to gain about 1.2%. we've got the s&p for the week up .8%, and the dow jones industrials up a quarter of a percent. and, folks, it is the russell with quite the move this week. the russell 2000 this week alone has gained about #% -- 1%, no, 22.5%. and i do have to tell you that

legit move is an insane 12 month to date. that has the small and mid-cap bulls clinking their glasses. quarter to date it also a beats out the biggies with a more than 4% gain for the -- 14% for the russell 2000. the grinch, however, is knocking the stuffing out of some individual names. let's start with nike. the dow come appropriate if getting clobbered -- component down nearly 12%. investors sprinting away after it beat quarterly earnings expectations but citing a cautious consumer, gave a aer by disappointing sales outlook for the second half of its fiscal year which which ends in may if. tripping up adidas, under armour and on holdings, but adidas and on have actually had a pretty good year. put aside the 5% loss in adidas, 3% loss in under around a hour, adidas has gained 50% year the date, and on has been pole vaulting to the tune of 64%.

chinese gaming stocks are getting stuffed as a well. nettiess, ten cent both getting hit pretty hard. ten kent at $36.42, down 0%. that is a -- 10%. that is a 1-year low. and you can see netties down sah surprise crackdown by the chinese government. regulators announcing a flurry of new rules that limits spending or rewarding players for logging in to games daily. the chinese government does not want people playing games as much as they do mt. country. in the country. from stocks getting stuffed to some stocking stuffers, santa handing intel shareholders yet another present. shares surging to fresh 19-month highs up 1.8% on the session, quarter to date intel has climbed 34%. and year to date, look at this move, 81%. all this plus the fed's favorite inflation gauge, core pce e, personal consumption expenditures, coming in cooler

than expected for november. but look at the headline number. that's the red arrow there, down .11th -- .11%. that's -- .1%. the first negative print since april of 020. okay, so inflation at least falling on one level. what does it mean for your money in 2024? let's get right to the floor show. we have saw terra rah investment management cio gene goldman and gray hill capital chair thomas hayes. tom, it's a very reis sill cent market, is it not? what keeps it going in 2024, at least until the end of this session? enter looks like they ran the grinch of out of -- out of town, and the next seven days we could get on average 11.3% gains -- 1.3% gains. looking into the 2024, the average gain for a presidential year is not quite as good as this year, but up 11.28% since 1928. so there's a lot to do, but we have come a long way very, very quickly, so we may see some consolidation in january and

february. liz: i mean, it defies the odds here, on track for more than eight week weeks of gains in a row. gene, i think to myself, wow, how much further does this go? we know that bulls get tired, he was to take a seat on the bench at certain points. but without any such catalyst at least at the moment, and i'm surprised we're not getting a catalyst what's happening in the "american idol" -- middle east, specifically in shipping, all the shipping lanes through the red sea have to be diverted due to safety reasons. that is 12% of global shipping that goes through that route. why i is that not some type of black swan or even a black tuck or a black parakeet? -- black duck? >> hey, liz. everyone's -- [no audio] liz: go ahead. >> so everyone's focused on trying to find something that's grinch-related for christmas, but we done see anything. i know this is definitely the overhang. clearly, crosses are going --cross -- costs are going to rise, but we're seeing 2024 is going to be a goldilocks to

the max scenario. the dow's hitting record highs, unemployment rate is below 4%, inflation's rolling over, gas prices are now at one-and-a-half if year lows, all good stuff. we're terming 2024 as an opportunistic bull market. yes, some of the gains may have gotten pulled into the last month and a half or so, but look at small caps, the russell 2000 having a great week. those are the areas that a we're really focusing on. plus value next year. opportunistic bull market next year. liz: so you don't see huge supply chain implications at least what's going on in the middle east. >> not yet. liz: tom, where do you like these markets at the moment? if not in some of the large caps like nike, walt disney, boeing, $the lag hards -- which are the laggards at the moment? >> well, gene is right, we've got a potential name for you. you know i like turn-arounds, i

faye you -- [inaudible] in april, we just sold that at a double in about a eight months, with we've got come stock resources, jerry jones owns 65% of the stock -- comstock. he says his holdings are worth more than the dallas cowboys. this is really interesting because the proven reserves, pv0, are worth $15 # -- liz: energy. >> the stock is trading at 5 billion enterprise value. so if they liquidated it today, this is all natural gas in hainesville, northern louisiana, east texas, you would triple. liz: but it has a 174% gain year-over-year. why am i buying it? >> this thing is depressed. it's down to about a $8 or 9, we think over the next 12-24 months the demand is going to continue to increase. they have shipping through the gulf, and we want to bet alongside. you can get in and ride the wave. liz: well, the cowboys did not look so good the other day. [laughter] jeep, or let's not ignore what'g

fore if treasuries. the market's just in the last hour all turned red, they're back in the green at the moment not by much though. when yields were con toing -- continuing to rise, yesterday andy brenner said this about the 10-year yield because we were saying, did you miss the high there to buy at a decent yield for the 10- year. here's what he said. >> and we have, next week we have 155 billion of treasuries. in january we're going to have a huge amount of treasuries. so i would like to buy 10-years back behind 4%, in fact, i might even wait for 4.30 to 4.34 -- liz: and you think that'll happen january, february? >> i think that'll happen the middle of january. i think you want to get long before or the next fed meeting on january 3 # #st. liz: gene, i'm guessing you disagree. >> i definitely disagree. he's right in the sense that we have a lot of treasury supply coming to the market, definitely. but think about the it, we have a huge amount of demand coming n. we've only had 10 weeks this year where mutual fund bond flow outflows we're seeing, lots of

demand on bond funds. second of all, you also have the fact that inflation, bond yield withs are well above inflation. third of all, this is an election year next year. nothing's going to change around the budget deficit. we are going to see a lot of opportunities in bonds. so what do you do with bonds? where are we buying bonds? we've been increasing our duration almost every quarter to take advantage of yields. we envision the 10-year treasury yield next year about 3.9 to 3.5%. if we have a recession in the second half of the year, we could see yields going below 3.5 on the 10-year. the scary area is high yield. high yield will probably do okay, but it's ignoring the fact that defaults are going to pick up. will. liz: well, at the moment we have borrowing costs still pretty high and for growing companies, tom, and i'm thinking biotech, biotech is growing. they need a lot of capital to develop these new drugs. who knows if that's going to be a problem for them. but you say buy the biowith techs. >> yeah. the whole theme for 2024

biotech, the xbi index, has done absolutely nothing for a year. it's been dead money. we've been waiting and waiting. all we had to do was wait for chair powell to get out to have way, and and to what gene says, as a rates go down, biotech goes up, they can raise capital, so we're going to see more deal just like with bristol-myers this morning, we're going to see more drug approvals, and the big pharma have -- unlimited crash -- cash, and these biotech companies are tradings at historic create crow valuations. liz: i have historic respect for both of you for coming n. >> likewise. liz: have a healthy, happy one, thank you so much. >> merry christmas. liz: fly me to the moon or at least where i need to be for christmas. you're looking at a live picture inside denver international airport. nationwide tsa expecting more than 2.5 million if passengers to move through u.s. airports today alone.

no ticket? let me guess, you tried to use points but were shut out by the airlines. have the major air care iers been using deceptive practices in their frequent flyer programs? we've got the points guy finder ryan kelly live next on whether the department of justice may be on to something as they look into this. and he's going to tell you maybe how to beat the airlines at their own game on short notice. by the way, investing in every single airline here stateside, global jets etf, ticker jets flying higher by 13% year to date. "the claman countdown" is watching the markets with a hawk eye on this friday. anything could happen. the dow is really touch and go, so you've got to stay right where you are. ♪ ♪ ♪ the best advice i ever got was to invest with vanguard for my retirement. the second best? stay healthy enough to enjoy it. so i started preparing physically and financially.

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liz: welcome back. especially to those of you listening to us on xm channel 113 while stuck in holiday traffic. i know you guys are out there. yes, holiday -- look how good tennessee looks. that that's actually the highway in nashville, t as americans race to eat a, drink and hurry to their holiday destinations. aaa predicting more than 115 million americans will hit the roads between now and new year's day, and let's take it out to denver international airport in colorado. this is a live look at the security lanes that have been swamped all a day, but they are still moviing thank you, to everybody or who's making that happen. it is the busiest travel day of the year. tsa says 2.5 million people will pass through security nation we wide on this friday before christmas. but for all of you who tried to book a flight with points or miles and were swatted back for, i don't know, a million reasons, the department of transportation has opened an early stage

inquiry into airline frequent if flyer programs. the d.o.t. is looking to see whether airlines engage in unfair or deceptive practices that negative ifly impact rewards members. translation, make it too hard to cash them in. we have just the guy to help you gear up and use those points to maximize your next vacation in 2024 or even before the end of this year. he's the points guy founder, brian kelly. brian, happy holidays. listen, anyone who flies knows it is so easy to get lured into signing up for credit cards that are cobranded with a airlines, and then you start spending to get miles and when you try to convert those points, that ease of purchasing turns to mud and quicksand. what do you think of the d.o.t.'s interest in probing the practice? >> well, interestingly, i don't have a counterpoint. i do think the airlines, you know, ten years ago there were blackout gates, you either got a black -- ap amazing deal or there was no availability is. you should be able to book a

last minute ticket on almost any flight. the problem is the value there. the airlines have been devaluing how much miles are worth. and it makes sense because they're selling billions of dollars of this currency that they can just create more of to the credit card companies, and certain airlines like united, their e frequent flyer program's worth over $22 billion. so the airlines are making more money selling miles, and now they're actually being call called banks. but this is the tricky territory because now the government is saying there's so much money involved here and they're trying to potentially regulate, which could be good for consumers, but call me a little bit suspicious anytime the government tries to regulate. there are always a unintended consequences. but i do think having more consumer protections would be a good thing. are. liz: well, they want transparency. the d.o.t. would like to see a little more transparency especially when the rules change, being a little more proactive in letting people know. the devaluation of miles, i personally do not like that

because, a, they a make it so -- it's like a rude gold berg effort, byzantine to try and cash in the miles in some of these cases, so you give up, and then you turn around a year or two later and, wait a minute, i worked hard, spent hard for those miles, and they're devalued? how is that fair? it's like a bait and switch. >> it is to a certain extent. what i will say to people wolf points, i would be less loyal to an air a lauren and more loyal to a credit card that allows you to transfer points to a lot of different partners x. for those who even want to go away this holiday season, i would also remind people look at using points even last minute. you can go from new york and l.a. to paris for 50,000 miles one way in business class or even 20,000 in economy. liz: wait, what airline? i'm going. [laughter] which airline? >> there's a really expensive last minute because the airlines gouge those business travelers. they often open up award space. so not all is lost, but it has gotten harder i over the years,

and you need to be a little bit savvier. liz: brian, give people watching or listening, our xm 113 folks, we love you out there, give people some tips on how to last minute book especially during holiday crunch time using rewards, using miles and points. >> yeah. so there are a lot of new tools out there these days that will actually -- kind of like google flights does where you can go on and surgery for paid tickets and you get a lot of different options. there are tools that will search award tickets. so you can put in your home airport, where you want to go. a couple of them are roam.travel and there's another called seats.arrow. and that's really clever. you can even put in that you want to leave from your home airport to anyone in -- anywhere in asia over a certain amount of time. you have to be savvy, and leveraging these monthly tools, you might pay $01, but you can snip -- 10, but you can sniff out the juicy award about at the

lowest levels because airlines are releasing awards seat ises all the time, you just need to be flexible. liz: you not going anywhere this holiday? >> i am saying -- staying put, but seriously, i will give kudos to the tsa, front line employees. that's was relatively smooth, i'm hoping the same for this holiday season. and please be nice to those front line employees, they want you out of there even more than you want to be. liz: i know. the tone in your voice, i told you to take out the bottle of water and yet you didn't. don't forget, remove the bottle of water. brian, happy holidays. thank you so much. the points guy, brian kelly. look out, space, and, rocket labs soaring after an eye-popping new contract with the u.s. government. we are going to tell you what uncle sam wants the rocket start-up to do now. and every dancer dreams of rocketing to fame, but ballroom dance champ cheryl burke wasn't really one of them. she just wanted to make a living

dancing, so how did she suddenly catapult to the glitz and glamour of the hit hoe "dancing with the stars"? she took a one-time shot and stretched it to 26 the seasons as the pro all the celebrity participants really angled to parer in with. but when -- partner with. but when life and heartbreak tripped her up, how kid she -- did she sail through the it all with a smile op her face? my latest everyone talks to liz podcast episode. of so if you guys are tuck in traffic driving to grandma's or wherever, download it on any one of these incredibly inspirational podcasts. they're all on apple, google, spotify, iheart radio. everyone talks to liz. we are we are coming right back. right now it's not touch and it's not go,ing the dow is down 5 points. ♪ ♪ ♪

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liz: we got a fox business alert. here we go. robert lab usa rocketing higher and on track for its largest percentage increase since september of 202 21 i'd lay say a 22% gain deserves that. the aerospace if company has won a half a billion dollar government contract, it's grade greed to design -- agreed to design and manufacture 18 space vehicles for the united states government. rocket labs, it's a $5 stock but a $2 billion market cap company and, by the way, it's run by a guy who is a self-taught rocket

scientist. god bless america. in a year of big pharma deals, bristol-myers squibb has agreed to buy ku -- keruna. and it looks like the right price because they're at $317, so below that $330 number. the buy helps bristol-myers gain access to a very promising schizophrenia drug as patents on bmy's older medications expire. bmy is up 1.if 7%. berkshire hathaway continues to gun down shares of occidental petroleum. berkshire bought another 310 million worth of stock over the last couple of days bringing the company's stake -- which has been building for more than a year -- to 28%. but you know what? yeah, berkshire 's up a fraction, but sock --

occidental's up three-quarters of a percent, no real buffett bump at least in the past year. occidental is down if -- 3.3%. and you thought spacs were dead, did you? lion's gate is shipping off its studio unit in a spac if or reverse merger. the blank check deal sals the business behind the popular hunger games franchise at about a $4.6 billion. the studio will merge with scream ising eagle acquisitions corp. to create a new public firm for lion's gate's film and television assets. screaming eagle up a third of a percent, but lion's gate is down %. -- 4%. wait, isn't screaming eagle a liquor? or -- austin, you would know. now he's all shy. austin who's, like -- >> not this time, but i'll try it for you. liz: santa's clock is ticking -- [laughter] and the rush is on for those of you looking for last minute christmas gifts. we are heading out to the luxury

mall in miami, florida, to see what kind of foot traffic the high-end brands are seeing. so it's a little bit of retail analysis live and on the ground. we'll take you there. and venmo me is now probably one of the most often utter ed lines, but where's the option for international business transactions? we've not the company now making global payments for small and medium-sized businesses as a easy as the touch of a button. the payoneer ceo is here, and by the way, they struck some pretty significant partnerships with etsy and airbnb. all right, speaking of retail, we've got the spider etf, ticker xrt, up more than 19% over the last year. we are coming right back. volatility is down, the dow, s&p, nasdaq, russell and the transports are in the green. ♪ ♪ ♪ we worked hard to build up the shop,

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♪ ♪ liz: oh, yeah, the christmas countdown clock is ticking, and with less than three days left to get a gift to put under the tree, tomorrow is set on the second biddiest day of the holiday shopping period after black friday. that's according to a tracker of store traffic. even so, investors don't see a reason to pile into luxe retail stocks. tapestry which owns coach and louis vuitton, all companies own stores in the avenuen tour rah mall, one of miami, florida's, premier luxury mauls. that's where we find fox news' dan that marie mcnichol. what are you seeing there? if what's the feel on the ground? >> reporter: oh, i can tell you it has been extremely busy all day long. the to haves opened at 9 a.m -- the stores opened at 9 a.m.,

early for a9 lot of shoppers who are spending a lot of money here. retailers, they're happy, especially because record amounts of spending is happening, as a you said. super standard is -- saturday is one of the busiest shopping days of the year compared to black friday. >> definitely expect to see tons of people here, very similar the what with one would expect on black friday. it's great that the it falls on that weekend where christmas hits on a monday so you have the entire weekend to shop. >> reporter: now, the national retail federation says shoppers on average expect to spend $ing 8700 on gifts -- 875, with clothing and gift cards as a some of the popular items. shoppers are really hoping to catch that last minute deal. ♪ >> very, very last minute. glad they opened so early, and i'm glad they have the a great

selection. >> i'm just trying to get -- i'm thinking about a pandora charm for my grandma, and i already have something for my grandpa, but maybe, like, a t-shirt. and i don't know really what brand he likes. >> reporter: now, spending habits for consumers are shifting. according to nerdwallet, 74% of holiday shoppers plan to use credit cards to buy their gifts this year. >> people don't really like to think about the fact that they do have to pay off the debt in january, and one really shocking statistic that we find every year is that about a third of people who bought their gifts with credit cards are still paying off that debt a year later. >> reporter: and people we spoke to here in miami are describing today as panic shopping. so i can tell you it's so busy that the stores are behind me, they're taking red vegases for trying stuff on in the -- reservations for trying stuff on in the dressing room. maybe look to see if the store

can save you a spot in line. liz: reservations for the dressing room? oh, my. >> reporter: yes. liz: dana marie, it's a pleasure to see you on the network, welcome and happy holidays. thank you so much. >> reporter: oh, thank you so much. happy holidays to you too. liz: while some americans hit the malls, others will stop in the hoping mom and pop stores. 722% of consumer -- 72% of consumers plan to shop with small businesses this holiday season according to a survey from u.gov. and one financial services company is helping those small businesses make tear global transactions a lot easerrier. payoneer is like the international. venmo for small and medium-sized businesses, and its ceo, john kaplan, joins me in a fox business exclusive on how, john, you're making these types of traction a actions much -- transactions much easier. >> we are vep mow and even better for small businesses all over the globe. we do business in 190 countries,

making it easy for a small business owner with an application on their phone for international money transfers. get paid, make payments around the globe. $60 billion of funds flowing in to our accounts, and we're see really strong growth. liz: let's talk about an example. give me an example of a small business here that was doing a lot of business somewhere, i don't know, in europe or asia, and, you know, their currency conversions and all kinds of issues, banks having difficulty -- >> here's a great example. i met one of our customers. she used to work as an office manager in a didn'tal assistant -- as a dental assistant. the dentist came to her and said, you know what? if the cost -- let's actually outsource some of the labor to do the billing. >> she built a business, she has 450 people around the globe doing work for dental offices all over the southwest of the united states. she's using payoneer to pay those people.

they receive funds into their account, they get a credit card to buy products and if go to their local atm. it's really connecting the global economy for maul business owners. liz: that is fascinating. and while you do deal with small and and immediate couple-sized businesses, you also have started partnerships with etsy, and you already have one with airbnb with the hosts. >> yes. we make it possible for the world's best marketplaces -- etsy, amazon, walmart, airbnb, you name it -- all of those platforms rely on the global trusted, regulated network that payoneer has put in place. we're over a 17-year-old business, as you know, and so we put the brand in place, the framework in place, the trust in place to move money around the globe seamlessly and easily for people. liz: i look at this company and think, a, how are you making your money in and, b, you would almost seem a candidate for a take orr by a bigger financial institution. >> how we make money is really straightforward. it's free to use the application

for small business openers. they pay a small percentage like 11% when -- 1% when they use the funds in their payoneer account. so if they are selling on am sos flow into their account, and they use our accounts payable products or our internal network like venmo, they use those products. and when they withdraw those funds, we take a small -- liz: how many customers do you have? >> over 22 million customers. we -- 2 million customers. we get over # 5,000 people a month 20 open an account. when i was in around general teen that this year and then india, thousands of people come to meet and learn about the platform. liz: you worked at alibaba. you had been there for a tint in your career. >> indeed. liz: you know asia a very well. how's their economy, and what is the explaining change like between businesses here and will? >> what's really important is exports, and that's what we make

possible. so folks in china who are manufacturing products that americans are i buying, we just heard that great segment about the crowds in the malls. when someone's getting an iphone case for their kids or a t-shirt for their grandfather, she might find a product that was manufactured by someone where the funds are remetted right into a payoneer account. liz: and it works the other way around too. >> the funds flow all around the globe. liz: it's fascinating. i'm sure there will be a lot of financial transactions in the next 72 you are hours. >> it's 11 million transactions a month. $of 0 -- 60 billion, millions of customers. we're excited to share. liz as you grow, come back, and when somebody -- i'm kidding, i mean, i don't know who's going to buy you, but it feels like such a burgeoning business, so thank you. >> thank you so much for having me. happy holidays. liz: you too. here we go. where there is smoke, there is fire. the securities and exchange commission inching closer to

approving a spot bitcoin etf. charlie gasparino has details on what the structure is of the funds may look like. and even before that happens, wait until you see some of the crypto-related stocks. they are roaring higher today even as bitcoin doesn't do that much. charlie breaks it next. the global x blockchain and bitcoin strategy etf, ticker bits, hitting another new high right now. year to date it's up more than 230% in 2023. " the claman countdown" is coming right back. so the dow's turned negative, down about a 37, but the s&p still holding on to 5 points, the nasdaq up 20. so glad you're hanging with us on this friday. ♪ he hits his mark —center stage—and is crushed by a baby grand piano. you're replacing me? customize and save with liberty bibberty. he doesn't even have a mustache. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

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♪ liz: the crypto stock rally is in full swing right now with 11 minutes left to trade, showing no sign of stopping. look at these individual names powering higher. specifically, coinbase is up 4. riot up 6.6%. marathon digital up 8%. that is a 52-week high at $26.93. micro e strategy going nuts here up 5.8%. earlier it was at $6232 a share, right now it's at 615.

but, still, 552-week high or more. bit wise up 6. securities and exchange commission, this may be the reason will be why it is preparing the financial industry for the potential i approval of a spot bitcoin etf in the new year. the agency, how are they doing that,s you're asking. well, the agency holding conference calls with issuers yesterday to iron out final details. charlie knows what was said is on those calls. >> we should point out that i think bitcoin is downed today, right? liz: it is. >> okay. it's been up the last week or so because our reporting largely on foxbusiness.com, when i say ours, mine and ellie, my price's, reporting on fox business -- my producer's reporting which essentially talks about etf decision to approve a spot etf is coming down the pike. a lot of people believe the sec is going to approve it, and that would be a big thing for the crypto industry. it's another step towards mainstreaming crypto. if you're an average a person,

you're able to buy an etf on an, change like the nasdaq or the new york stock exchange which all these companies, even the biggest ones -- blackrock is there, fidelity is there. you know, that's a big step to making bitcoin and crypto a mainstream product. so what happened yesterday? essentially, they had the call and yesterday was to lay out some of the groundwork that's already been laid out to go through it with them, another indication that it's likely to be approved by january 10th is the date we keep hearing. and also to make a point to them that this is not going to be an average a etf, you know? if a lot of people like etfs because they get, they can go with their, with the underlying security, like if i have a bond, i can go to, i could go to the etf provider and say here's, you know, a bond, here's a comcast bond, whatever, here's a bond of 21st century fox. if it's in the etf, i can buy a share of the etf with that

underlying product. i can also get a redemption from the etf with that underlying product. people were fighting, people meaning larry fink at blackrock and all the big players that have been able to apply for this etf, that they can use bitcoin in the same way where you could take your bitcoin, go directly to them, they can accept the bitcoin as currency, and you can get paid in bitcoin if you redeem. the sec said, no, we're not going to allow that. you can only e deem and essentially purchase with cash -- redeem and essentially purchase with cash. that's key. why in well, the sec will tell you because we don't want this used for nefarious reasons. they're worried about people essentially taking bitcoin that they've used with, to get, to buy, you know, drugs and going -- and washing that bitcoin through harry fink's et, essentially. the e t, f provider says, no, first off, you can do that with cash, to be honest with you, but not only that, this is going to

screw up the way these etfs work. it's complicated, but they would like it all to be sort of saturdayized. but the -- standardized. but is sec said, no, i want cash in, in kind as the latter is called, out. so redo your applications, and we'll -- and get ready for january 10th. liz uz liz what's your best guest, two names. >> we had heard gbtc, gray scale, and blackrock being approved first, or everybody who has their ducks in a row in their application. >> it's a good de. i think cathie wood would have to be part of that, ark investments finish. liz: why? >> another one, i think it's 21st century, i can't remember the name. because she was first. she was literally first in line. liz: well, but -- >> that's the marker or. liz: the winklevosss were first. >> no, i think she was. liz: they filed first. they were outright rejected. >> okay. she hasn't been rejected. just so you know, i don't know that the winklevosss applied for

an etf. they might have applied for something else. they applied for the etf. okay. liz: well, it was so early. it was 2013. they probably didn't even have a working application. >> well, i mean, this round of applications she's first. so i guess she would have to be part of it. i heard they're probably going to do them all at once. liz: all right. >> that's what i heard, but i could be wrong. liz: everybody gets a trophy. >> i think if they all follow the same sort of format which is this cash, favoring cash over in kind, i think they're likely to get approved. liz: charlie, happy holidays. >> you too. liz: breaking news, president jo biden and the first lady visiting the patients and families at children's national hospital at this very moment. jill biden reading a book to the children right now. annual visits to the hospital by the first lady are always a holiday tradition dating back to 1946 when bess truman first visited children who were being treated for poll owe there.

president biden this time around joining the first lady on christmas eve. he started that in 2021. he's kept this new tradition going by accompanying the first lady. he's been there every year since. of the president is not expected to speak, but we'll keep our eyes open and see if any of the children toss a question to him about the economy. i'm i'm kidding. closing bell 4.5 minutes away and dow within striking distance of new all time high but not quite there. down 17 points, hey, if we get a final minute surge, the number to watch, 37,557, we're al 37,385. not exactly likely in the next four minutes but we shall see, s&p less than 1% from all time record and up for the eighth straight week and longest winning streak since november and back to 2017. in the final moments of trade, top sector performers, energy,

utilities, consumer staples materials and industrials and downtown closer knows which sector you should have in your port fportfolio were a happy ne. michael, it's more than one sector, give me a couple picks for 2024. >> liz, you've got to go with what works and soft landing outcome will be the reality in 2024, at least that's what toosh's economic data and the economic day tay continue to tell us and we like technology and communication services as well and maybe a value play with energy. in the soft landing, demand is higher than folks are an sis pating and the stocks are sheep and those three sectors are attractively positioned into

2024. liz. real estate is a wonderful performer and a subsector you focus on. >> integrated oil companies are positioned nicely and it's been up and down, the price of oil and steadily rising as opec is maybe not getting out of the pincher but moving to the side and oil prices starting to tick up a bit again, dollar is declining and pushing prices higher. ultimately earnings re-pain strong and chair holder attractive and companies buying back stock and paying dividends and that'll be attractive next year. in an environment where maybe returns won't be as high as this year. liz: well, talking about next year, it's interesting that inflation has been coming down

and that's disinflation and today we got pce headline inflation number that actually shrunk one tenth of a percent, which means that it's going in the right direction, inflation is cooling exactly how the fed had really wanted it to. is that really the time to cut rates, the fed dot plot that we got. indicates there'll be three rate cuts next year be @ markets are betting for six, some cases seven. is the number somewhere in between from where you sit? >> i think it's likely somewhere in between. if the fed is cutting rates six times, something has gone wrong and in a recession natural rights approach period than what the market is anticipating and that's a risk to the markets just like they were behind the curve on inflation and had to catch up, if they had to cut rates six times, liz, it would suggest to me they were a miss on their forecast for the recession and ultimately the economy and that would make me a

bit nervous and soft landing outcome seems to be the traject write are the economy is cooling but not a recession and labor market is sol it and inflation coming the fed's way and that sets up for a nice backdrop in 2024. liz: michael, a nice backdrop with 30 seconds to go before the closing well. we thank you and your whole team. thank you very much and best of luck in the new year. the last full traiting week of 2023. markets, we remind you are closed monday for the christmas holiday. it looks like the dow will be the one down inindicator and s&p, nasdaq and russell and dow transports in the green. a happy healthy holiday and happy new year. that's it for the "claman countdown" reporter: david: hello