if the long-term trends are in place, go with intel. charles: you know what? everyone's looking at new management at intel because that can make a world of difference. david dietz, always enjoy the conversations with you. speaking of chips, we're chipping away, we chipped away pretty good this hour. i'm going to hand it over to my colleague, liz claman, with a little bit of momentum, liz. liz: yeah, a teeny bit. we do have the markets kind of in the red moving around, as charles mentioned, trying to get back there. but the hottest story at this very hour involves a wild pairing, shark week, meet cnn. it's the $43 billion mega-media merger that's throwing up a red flag in this final or hour of trade. at&t combining assets from hpo, tnt to animal plant and hgtv.

could it trigger a money for content competition that leaves everybody poorer? former at&t broadband ceo leo hindery is here along with top telecom analyst craig moffett. plus, charlie gasparino on the palace intrigue that's in full swing right now. who's predicting how the chess pieces fall. as at&t and discovery build a media giant, home builders are stuck in their own catch 22. rising material costs paired with huge demand, we've got the ceo -- listen to this or -- the housing stock that's up nearly 1,000% over just the last year, love hovnanian ceo is here in a fox business exclusive. and the colonial pipeline is slowly coming back online as gas stations across the south struggle to fill up. arco's ceo is here to give us the situation on the ground in his nearly 3,000 gas stations.

and bitcoin breakdown. is tesla ceo elon musk so powerful in the crypto space that he can role the market with a single word? indeed. bitcoin's down to $43,692 right now. breaking news, now that the dust is starting to settle from the at&t and discovery bombshell where at&t is going to spin off and merge warner media assets with discovery, shares are are settle back down as well. discovery down 5.25% while at&t stock which is shedding assets from hbo to cnn to tnt which it fought so hard and spent so much money on three years ago is also down just under 1%. that could be involved due to the debt structure. at&t is getting $43 billion in cash while the new company entity will hold $55 billion in debt account with the promise of $52 billion in revenues by 2023. with the numbers out of the way

now, okay, the fun part begins. the palace intrigue is in full swing at this hour. discovery's chief will run the new company. he's got major power while at&t stays put as a pure play telecom. but that barely scratches the surface. so while everybody else is chattering about jeff zucker who currently runs cnn, one of the warner media assets, my sources are telling me watch out for richrd ard protectler. the former genius and chief who was pushed out by john steng key of at, and t, he was the man behind game of thrones and so much more. by the way, it could be a possibility very close with david saz love and could, according to my sources, be wooed back to run the new intitism what about the guy

who's currently running warper media? charlie gasparino has his fingers in all of these bottoms. charlie, let's start with the latest. this is really getting nutty here. >> well, there's winners and losers in this whole thing, as you know. and, you know, just like any other business, investment banking, media and the relationship business you tend to fire your enemies and keep your friends. and i think that's why you're hearing that richard protectler could come back. i haven't heard that, but i'm pretty sure you're on the money with that, because he and david sasse love are pretty tight. summarily fired by stank key, stank key has proven to the world he doesn't know how to run a tv network. at&t's going back to widgets and 5g -- [laughter] and the stuff you think they might know allowed to do as opposed to media.

so the big winner here, obviously, is discovery. think about it this way, liz. at&t still has a majority stake in this company, yet zaslov's the huge winner here. so is jeff zucker, let's be clear, the cnn boss. many people thought he'd be out in nine months because he didn't get along, allegedly, with the dallas guys, the at&t, as you know, is located in dallas, the non-media people. he's back in the driver's seat, if he wants. i mean, he and zaslov are incredibly close. they're golfing buddies, they hang out in the hamptons together. if he wants to leave -- i kind of believe if they're that close, zaslov is looking to keep him at c finishes n. so he's another -- cnn.

so he's another big winner with discovery. also, you know, jpmorgan is kind of an odd winner here. they add saysed discovery. -- advised discovery. discovery, again, is the smaller of the two. jamie dimon's bank is in the driver's seat. by the way, just two weeks ago or a week ago jason -- was featured in a big, glossy "wall street journal" article about, you know, how he's going to remake time warner, blah, blah, blah. guess what? he's now working for zaslov, you wonder how long he's going to stay. another another big loser is randall stephenson, the ceo of at&t, who arranged for the $85 billion deal of time warner which is essentially being unwound by this deal, being spun off into a separate company, so it's no longer -- at&t's no longer with these media assets. remember, spent millions more

defending it in front of the trump administration -- liz: oh, yeah. >> -- antitrust charges against it. and the other crazy deal that is still hurting at&t, and that's directv which they just spun out again, in that case keeping a minority stake, but getting far less than i think it was the $40 billion they paid for it. is so those are the losers. one other potential loser, i say potential because if this deal turns out to be a net-net for shareholders, the ceo, john stanke. he has his fingerprints on these two deals, directv which was, obviously, a horrendous one and this time warner thing which, you know, depends on who you talk to, did not work off the so he's there too. but a spin-off, very tax efficient. they got some cash for it, they could pay down some of the debt, start investing in 5g which is what they wanted to do. you know, it could be a

long-term winner, but still you've got to, you know, he's going to stay on the radar screen for investors, marley activist investors going forward. -- particularly activist investors. back to you. liz: who knows? bob green blat? i mean, this is really fascinating. as the pundits ponder what the merger means for entertainment, streaming, news, sports, reality tv, let's bring in former ceo of at&t broadband, leo hindery, also the first ceo of the yes network and the nation's top telecom analyst, craig moffett. i want to begin with you, craig. why would discovery spike 9 plus percent this morning on news of the deal is it now contracting along with pretty much the rest of the streaming sector? >> yeah, you know, i think it's a really interesting question. and, frankly, we were surprised because i thought, as charlie set up, discovery got the better

of this deal and gained real scale here. but i think it's part and parcel of, you know, this whole unwinding of fomo trades in general, all these, this kind of belief that i'll take the terminal value stories that everything is going to turn out hunky dory and pay huge multiples for them. those are in the wrong place at the wrong time anyway in this market, and people are being forced by this transaction to look at just how much optimism is balked into the streaming story -- baked into the streaming story, and i think they're rightly questioning whether is the business really as good the as the valuations would imply. liz: well, craig, the notion of a media company that when combined with mobile phone business would somehow supercharge at&t, it did not. was it a concession? is it a really smart way of exiting or extricating yourself

from the media assets? >> liz, there's no way to put it other than this is, plain and simple, a concession. this is an admission of defeat. they, they were fighting three wars, right? they're trying to keep pace with t-mobile and wireless, they're trying to keep pace with the cable industry and broadband, and they're trying to keeps pace with netflix and disney in streaming, and they just didn't have the money to do any one of those three things well, much less all three of them at the same time. the balance sheet was wrecked because of overpaying for assets. -- for these assets. the never made since in the -- strategy never made sense in the first place. credit though, there are very few management teams, as charlie just said, remember are, his hands were all other this. this wasn't just randall stevenson. john did them too. and to his credit, he's willing to be the one to clean up the mess that he was part of making. and so i think he deserves kudos

for that. but make no mistake, it's a mess, and they're just trying to clean up a mess, and it still lees them behind the 8ing-ball. liz: yeah. i knew that you would give the harsh and stark story here. leo, your history with at&t goes way back. liberty's john malone controls discovery. i mean, let's not trick ourselves on now this. this is the second go-round to are malone and at&t. should this be looked at as a john malone saving at&t from itself once again? >> well, liz, it's a pleasure. and, craig, always fun to be on with you. what i like about your comments, liz, is they acknowledge the role of john marrone. all the credit in the -- john malone. all the credit in the world certainly goes to dave zaslov for redefining discovery channel and it assets, but john is behind all of this as you know through his ownership position in discovery. and i think there are sort of three things that happened

today, and they're momentous. and the only thing i'd say to craig is this was a day of giant hoops. hoops on discovery, hoops on time warner. and it was a good day for discovery. it got scale instantly. david and his peers get to run the place, which is a complement to david's management. john malone continues to accrue value. the other thing that happened, liz, is you've begun a redefinition of the streamers. there are now two kinds of streamers. there are those who produce content for streaming and there are those who acquire content for streaming. netflix, amazon, apple, they just acquire content. they stream it. disney, now discovery, they will produce content -- liz: well, leo, let me jump in here. netflix is creating content. they're going to spend $17 billion this year on content.

and, you know, they're talking over at discovery that there will be $20 billion in free cash flow. we know they'll want to take on content. david zaslov has already said that news is going to be huge which means cnn is going to be a crown jewel. and this brings us back to some of the people involved in all this. who do you see running this whole thing? >> let me just correct your comment a little bit. i think there is a distinction between netflix, disney and discovery as of today. netflix, amazon and apple, while they produce content, they pay for it. they don't have the cable heritage that discovery has, disney does, viacom does. they try to -- what used to be the old cable channels into streaming products. i think there's a distinction being drawn between the two. the last comment i wanted to offer is the other group that's getting a little channeled today are are all the broadcasters -- challenged.

traditional it's continues, as craig writes often, is continuing to be devalued. the cable bundle is being devalued, broadcasters are being devalued. liz: right, right. well, i just want to ask craig this to finish up, who came first with the fleece vest, was it leo hindery or david zaslov? [laughter] craig, it's great to see you. leo, as always, a pleasure on just a huge day here, you know? as we look at this, we are seeing almost all of these stocks moving lower this hour. elon musk has taken the charge out of cryptos again at this hour, but should one man really have all that power, and does he really? and who could even control that? we tackle that question and more on the floor show. 45 minutes away from the closing bell ringing, "the claman countdown" is just starting with all the action. don't go away. ♪ ♪

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11.6%. it stands at $43,990. ethereum is losing 16% right now. light coin down 13%. what happened? this follows a single-word tweet from tesla ceo and bitcoin holder, elon musk. this drama began yesterday when an analyst who tweeted bitcoiners are going to slap themselves next quarter when they find out tesla dumped the rest of their bitcoin holdings. with the amount of hate elon musk is getting, i wouldn't blame him. musk responded about an hour later, indeed. that triggered a 9% crash in bitcoin which fell as low as $42,102, right? that's what it stood at. musk clarified that tesla has not sold bitcoin -- he did this hours later because he saw what was happening. he said i just said indeed. i'm getting a lot of heat.

we still have crypto on the tesla books, but that has not pushed a recovery. let's bring in scott redler and louie navalier. scott, we could wax poetic that anything that's affected by a one-word tweet is dangerous, but bitcoin, is it a buy, hold or sell? >> is there a valuation on bitcoin? it's always been driven by motion and fear and greed and, obviously, you see someone like musk who could come out and put a tweet out there at a very temperamental time after it went from 20,000 to 60,000, there really is no valuation. when you put it in terms of trading, you have to use technicals. and technically bitcoin's been in a tremendous uptrend. it rode all the way up to 60,000 plus. is so when musk started to get temperamental in his earnings call how he sold a bunch, that

was one break and then obviously, you know, recently this whole, you know, saga. so right now, technically, bitcoin is at the 200-day moving right d moving average right here. you could dip back and try and buy some here, but if 42,000 doesn't hold, okay, and it gets below and stays below, just ooh like any other sector, any other stock, you could be in a bear market for a while. and right now you don't -- liz: they call that -- yeah, they call that a crypto winter. scott, let me just jump in. there also seems to be some dogecoin rivals emerging. thereit's been gaping traction,- gaining traction, up about 2,000% oaf the last 30 days. i mean, we're talking micro pennies here, but it's back up after the ethereum cofounder said a majority of the shiv tokens he had been gifted to a

nonprofit and last night to some type of burn address? are these new rival coins anything to be taken seriously? quickly, before we get to louie? >> yeah, listen, i made a lot of money inman that at 50 cents -- manna, i bought ada at $1.30, it was just at 2.40. you just don't want to be the last one holding the bag. that's why the market and the sector's so emotional with elon, because finally everyone was thinking, okay, there's going to be uses for these things and now maybe not. so that's why it's a little bit crazy right now in this sector. liz: got it. louie, let's broaden this from bitcoin as a risky investment to the markets. can you gauge the risk sentiment today? >> oh, i think the market was just oscillating today. you know, the big news in the market is it liked the retail sales report last week because it showed we're not fully recovered, and the fed 's going to have to remain very accommodative. we had a nice rally on friday,

but they'll probably be up tomorrow. that's kind of what we're doing, up one day, down the next, etc. and i notice money's not leaving the market. also we had great news today on buybacks, that there's $504 billion in buybacks announced this year. that's the strongest number in 22 years. liz: well, what do you like, louie e? talk to us about what you are scooping up at the moment. >> well, i still like chinese stocks. i like niu which is, actually, they make more electric vehicles than tesla, but they make electric scooters and bikes and, obviously, export those around the world with. i like dq makes polysilicon you need for -- polysilicone you need for solar panels. we with just bet on dq. i like -- they do a lot of recycling, even like catalytic converters and recycle platinum.

then i love the taiwan semiconductor companies, tie juan semi and united micro electronics -- taiwan. all addressing the chip shortage we have right now. there is an acute drought in taiwan, and so united micro electronics has to bring in water trucks to help booths its output. -- boost its output. this chip shortage is a big deal, and there are going to be winners. liz: well, i'll tell you what, we're coming back. the markets look a little bit better. dow is down 56, low of the session a loss of 205. louie, scott, great to talk to you on crypto, the markets and some interesting stock ideas. thanks so much. from will work for food to free food for work. apple bee 's is bulling out all the -- pulling out all the stops. the food chain is now dangling to reel in a reopening work force. you guys, closing bell is 36 minutes away. i'm wondering if we do turn into

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liz: fox business alert, look at amc. it's closing in on a blockbuster feat in today's pop stocks. the theater giant, look at this, jumping 7.25%. but what's more important to note here is it's about to notch its seventh straight win session in a row. that would be its longest streak of consecutive gains in nearly two years. adding fuel to the fire on friday with a price target hike to $16 on pent-up movie demand. right now there's a little bit of ceiling room there, but shares are up more than 52% over just the past seven trading ca days. ev makers juicing the battery into the close ahead of key results. first up, fisker which decided

not to wait until after the bell today. shares are jumping 6.6% -- 4.6% after the tesla rival said it'll begin production and deliveries of its ocean suv in the fourth quarter of 2022 and also inked a deal with shark to make its in-car screens and -- sharp to make its in-car screens and displays. and canoe opening up for its multipurpose delivery vehicle and pickup truck. shares right now jumping about 2.25%. rival nikola seeing a nice gain of 7% and lordstown up 13%. ticker symbol ride, summering after announcing its lordstown week event for analysts, investors and consumers will kick off on june 21st. from one type of green to another, let's take a look at app harvest shares, planting positive shares with investors

posting $2.3 million in net sales in the first quarter on 3.8 million pounds of its high prouponnic tomatoes -- hydroponic tomatoes. shares are jumping 8.5% for app harvest. other types of apps, companies desperate to hire are dishing the out bonuses like hot cakes. okay, now it's domino's pizza offering delivery drivers $1,000 to sign on while fedex and cardinal health are paying $a 500 sign-on bonuses. but one restaurant chain is bringing in the big cheese. and when we say cheese, we mean mozzarella sticks. seriously. [laughter] id ya hu is at the applebee's in clark, new jersey. explain this cheese situation i, how the company's trying to whet workers' appetites, i guess. >> reporter: you know, i think mozzarella cheese sticks are hard to turn down, so they're hoping that's going to bring more people in to fill out job

applications. it's called apps for apps. you get a coupon for appetizers that you can use today or anytime in the future. they are trying to get 10,000 employees hired across the country to meet a surge in demand from a vaccinated population that wants to get back to dining. but, of course, this is coming at a time where we're seeing this continued federal unemployment benefit that some say are keeping people off the work force. this is an incentive to try to push back on that and get people to come out and apply. the ceo says it's a great time to join the company. they say they're busier than ever, and their employees are making really good money right now. listen to this. >> matter of fact, the months of march and april are two of the highest sales by months in our 40-year history which is phenomenal. now, that creates challenges from a labor and supply standpoint. >> reporter: now, applebee's is not the only chain, liz, on a

hiring frenzy. others include mcdonald's and taco bell, kfc and firehouse subs. apple bee's says as of this morning they had about 40,000 applications for those 10,000 open positions. now, whether those applications actually translate into hires and people in uniforms here and at the bar to wait on customers, that remains to be seen. at a minimum, they say that their program is generating some buzz and drawing some attention from job seekers at the moment. liz. liz: great to hear. listen, the free market's working at the moment. gotta raise your wages if you want the attract workers: lydia, thank you very much. lydia hu. you know, the colonial pipeline, we need to get to that. it is flowing again, but the pain at the pump, why is it so far from over? we've got the ceo in the thick of the storm next. we will ask when shortages and price hikes will ease, and when with i say the ceo, i mean the

ceo of arco, opens 3,000 quick trips and gas stations, all kinds of arco stations here. we're going to get the real story from him with the closing bell ringing in 27 minutes. the dow down the about 62, russell's down just 1 point now. not bad, it had been much lower. and the nasdaq lore by 85 -- lower by 85, it had been down 169. a little of a comeback, folks. ♪ when i was young ♪

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following the most disruptive malware attack in u.s. history, the gas a stations themselves are still struggling to get refilled, right in look at the lines at gasoline stations in both florida and north in new york. as of 11 a.m. this morning, 69% of d.c. gas stations are completely out of gas. 51% of north carolina stations along with other u.s. states hit by the shortage. so here's a question, how long is this going to take to clear the vapors of the disaster? arco corp., this is the parent company of the seventh a largest convenience store chain in the u.s., operates and supplies fuel to nearly 34,000 retail and whole steal -- 3,000 retail and wholesale locations, today their stock is up about 3%. to ari cutler, ceo. first of all, what are you seeing at your locations today? the what are you hearing about? are they still affected by the pipeline outage? >> well, we had some or -- thank

you, by the way, liz, for having me. we had some intermittent outages over the past week. as of this morning, we tart to see a lot of gas stations actually receiving fuel, we have some relief. we made a lot of progress over the weekend, you know, given we had a lot of resources that we had to pool over this weekend, and, you know, i believe that by the end of this week we're going to see a lot of gas stations actually receiving supply and getting back to normal sometime by the end of this week. liz: you know, it was a week ago this past friday that the colonial pipeline got hit by ransomware. i'm interested from your perspective, the moment you heard, how did you pivot? this was rather quick and quite a shock to, you know, not just the nation, but i'm sure to you as well. >> you know, of course. but, you know, you just need to remember, you know, at least twice a year we get hit either

by a winter storm or a hurricane that actually, you know, basically are hits the northeast or florida. usually we have a shutdown of refineries, so, you know, our team is basically, you know, doing those things on a regular basis. i mean, we get ready the minute we hear about the shutdown of the pipeline, we start to pull resources from, you know, different areas. we operate in 33 states, so we end up, you know, driving trucks for almost 15, 16 hours to make sure that we're going to have fuel in many of the locations that we supply. but there is no question -- i think the interruption was more from pan buying all over the -- panic buying all over the country. anding you know, it doesn't really matter. when you are selling, you know, convenient stores, gas station usually 4,000 gallons a day when all of a sudden you sell those in four hours, i mean, there is

no way to resupply them. so it's going to take a little bit of time. liz: which leads me to the fact that you do have these gas stations with the convenience store business. a lot of people don't know that a majority of your revenue is made from other aspects of the convenience store business. so my interest was as people were waiting in line or panic buying, did they come in and buy more at the convenience stores beyond gasoline? or did they just give up once they saw that there were such long lines, and how was your revenue hit over the past, i guess, 12, 13 days? >> sure. so we are fortunately -- fortunate enough or we operate in small towns, and the correlations are very, very little. there is no question that when you basically sit in line that is a half a mile, basically, line, i mean, there is no question that people may not come in or may afraid to cut the

line. but, you know, so far we didn't see any interruption whatsoever on the inside of the store. liz: yeah. because nothing can keep me from walking in and buying sweet warts even if i'm -- sweet tarts even if i'm just there -- well, i have an electric car now, so i don't need it. ari, great to see you, thank you very much. >> thank you for having me. liz: ari kotler, ceo of arko. the foundation being set for a red hot summer in u.s. housing or are we already there? we've got the ceo of the home builder whose shares are up more than 965% over just the past a 52 weeks. ara love hovnanian is here in ax business exclusive. you've got to hear his story on what he's seeing on the ground. we've got the s&p down 15, a little bit of retracement to the lows here, nasdaq down 83.

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♪♪ liz: let's look at apple shares. they are hitting a sour note at this hour despite a major move on the music front. the tech titan today announced it's adding spatial audio for support for doll by atmos -- dolby and audio files that bring tracks back to the sound they had at the time of their original recording in the studio, okay in so music purists are absolutely thrilled. i mean, eric claptop's doing a happy dance. they hate that sort of perfect digital sound. it brings it back to exactly how it sounded when it was recorded

however many years ago. the sound enhancements come at no extra cost for subscribers. maybe apple is down 1.3% right now because it could have to do more with tim cook, the ceo, preparing to defend apple's app store policies in this ongoing antitrust slug net with fortnite creator epic games. cook is set to take the stand this week and has reportedly been practicing for hours. apple shares stand at $125.76. home builders have every reason to feel buoyant about their business right now. first of all, builder sentiment, this just came in this morning, in the single-family housing market for the month of may came in at 83 versus 37 a years ago. just to give you a perspective, above 50 is considered positive, but builders are juggling red hot demand against the backdrop of rising costs of commodities. inflationary prices for lumber. lumber futures are sitting at

twice the prepandemic record. one of the top builders in america, hovnanian enterprises, well, the chairman and ceo, ara hovnanian is here in a fox business exclusive. i'm thinking this is a good problem to have. [laughter] what's it like for you out there? >> well, thankfully, the environment is good for increasing home prices which helps offset some of the lumber cost increases and other labor cost increases that you were just speaking of. so it's a good market out there. liz: yeah. it's a good market because the demand is so hot. but how are you balancing that with the skyrocketing price of copper? all of the industrial metals. i mean, we were just showing tin the other day, it was spiking. you also have, of course, the lumber situation. and then is there a worker shortage for construction? >> all of the above is true. we have had bigger, escalating costs. but again, home prices have been able to offset that.

generally speaking, we haven't announced our second quarter yet, but if you listen to other home builders and you look at what's happening with home prices, they've been rising, and that's helpful. eventually, lumber will go back to normal when production goes up a little bit, and that will certainly help. finish. liz: i mean, the next obvious question would be are you personally raising prices? you say prices of housing are going up. how can you not? >> we absolutely are. we have to. frankly, we've had to increase prices just to slow down demand. we were running out of communities and lots before we got the replacement lots in place. that's a problem overall with supply for all home builders, and we've been no exception. we're selling out faster than the replacement community's come back in and, hence, we've been raising prices dramatically to help that. liz: well, okay. like i said, this is a good problem to have. you now are faced with rising

mortgage prices. what about that? i mean, does that dampen some of the excitement or demand? >> you know, right now everything is, has to be put into perspective. all the way back in, excuse me, 1981 mortgage rates were at 18%, if you can believe that and remember that. you were probably too young. liz: yeah. my sister was old enough to buy a house, yeah. >> right. than there is right now. mortgage rates are phenomenal right now. there's no question about it. that is what has made the affordability index so good right now. the market and the index would still be strong with mortgage rates going up a little bit. i anticipate eventually that's going to happen. but there's room in the market in the affordability index to absorb that. liz: well, after that 2019, you

guys have have you jumped in tht year by more than 900%. it's great to see the company doing well. ara, please come back again. >> oh, very happy to. thank you. liz: ara hovnanian. today's pullback, and it was very short, actually. yes, the dow is still down 64 points, but a golden opportunity. any pullback is, according to today's countdown closer coming up, the stocks that are ripe for the picking despite the expensive price tags for equities that he shes on the market shelves. -- he sees on the market shelves. plus, taxed to the max. don't miss larry kudlow's show next right here on fox business at the top of the hour. closing bell seven minutes away. we're coming right back. ♪♪ t at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you

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♪. liz: with about 3 1/2 minutes to

go we do want to check back on discovery and at&t. both are down. now if you look at discovery, we do have that down 5%. at&t's losses going into the close have increase ad bit. we're down 2.8% on their, you could call it a merger, spin-off, spin-off merger of the media assets that at&t held from warner media, going into a new entity under discovery. both these names were a lot higher 12 hours ago, it wouldn't be 12. before the market opened. we're watching it for you. our "countdown" closer says the market itself is overpriced even as it falls a little bit right now he has three names he says are the ones that you need to look at. annandale capital ceo george seay has four billion under in assets under management. are they less expensive when you look to the price earnings ratio? what metric are you judging them against?

>> good afternoon, liz. the overall market is pretty rich. it's a market of stocks, not a stock market. you can find pockets of inexpensive stocks out there if you look really hard. all three are commodity related stocks. tara resources is upstream natural gas company, enterprise partners is a pipeline company located in texas, eog is the most well-respected independent upstream oil producer in the country. they also produce gas too. they're all still really inexpensive. we have the easiest tell inflation was coming ever through this pandemic because the fed and government made it very clear they would inflate our way out of this thing and when you get a signal that strong you need to be in commodity stocks, real estate stocks and overseas stocks because the dollar weakens against other currencies. liz: do you think, george the fed will have to break from its stance at the moment we're not touching 0 to quarter of a percent rates until 2023? look at the pricing we've seen

from everything from basic materials to soft commodities? >> it is amazing. we had more inflation this year since we had since the early '80s as your prior guest mentioned. i think it is unfortunate, bad for markets and the economy at the same time, but the fed will have to tap that earlier than hoped for. fingers crossed that the inflation is tamped down but i'm not counting on it. liz: the best way to be poxed george is what. >> historically liz, commodities do the very best by far in inflationary times. then real estate and equities. sometimes equities don't make money in inflationary periods. overseas stocks, with stocks that have catchup to play. the oil and gas sector was the most hated, unloved abandoned sector in the history of the market there is plenty of room for the prices to keep getting

higher. the massive run they have had this year is not over yet. liz: george, thanks a lot. we appreciate it, george seay, live from dallas. [closing bell rings] closing bell coming right now. markets kick off the week a little bit in the red. nothing too dramatic. crypto is quite the story as bitcoin falls dramatically. that will do it for "the claman countdown". ♪. larry: hello, everyone, welcome to "kudlow." taxed to the max, i'm larry kudlow. in this world nothing is certain by death and taxes. that famous quote of course from founding father benjamin franklin. i guess i have to acknowledge the former if not exactly the latter but with all the problems with the biden administration policy they even want to raise taxes on your death. that is a poke in ben franklin's eye. today's show is not about ben