charles: and intriguing session, were starting to come back i want to tell you a quick story june 2, 1925, the first baseman for the yankees he said i'm going to sit this out, lou gary came and then the rest is history. i'm going to hand it over to liz claman so the market doesn't completely fall apart investors don't want to get out they might get out one day but there back in the next day and i think that's a key component to the bull market. liz: can you tell me a yankees bedtime story. [laughter] charles, thank you very much. he is right and were looking at breaking news president joe biden updated the nation on the steps he's taking to solve the challenges facing the post-pandemic academy. the remarks at the white house focus mainly on high gasoline prices in the supply chain

snafu. the president speak it after he gave the go-ahead to release 50 million barrels of oil from the strategic petroleum reserve that's the largest in the nation's history. the s&p 500 trying to scratch its way in stay into the green up a third of a point at the moment but oil is popping more than 2% in the aftermarket session. the president says his administration has also launched a formal investigation whether oil and gas companies are pocketing the difference between wholesale and retail prices and when it comes to prices they are doing opposite of what the administration intended at this hour, rising versus falling. locate gasoline the wholesale price of gasoline across the nation. right now it's up 2%. crude oil also seen a move to the upside. west texas intermediate, trades in the u.s. the regular session closed up two and a quarter percent, right now in the aftermarket is it up to and a

third% $78.55. brent is the international benchmark up three and a third% to $82, 34 cents. let's get straight to the white house edward lawrence for the pre-thanksgiving comments on oil and the prices we may soon pay. >> the president trying to show americans that he can take action to lower gas prices as well as help the economy. wages are rising 4%. they never mentioned the word inflation. >> it will take time but before long you should see the price of gas drop were you philip you take. in the longer term we will reduce our reliance on oil as we shift to clean energy. but right now i'll do what needs to be done to reduce the price you pay at the pump.

>> the present insane releasing the 50 million barrels of oil from the u.s. the price spike but the house oversight committee representative andy biggs says that we will use about 20 million barrels of oil a day in the u.s. and 50 million barrels gives us two and half days relief. >> this is a desperate administration. it has no answers to this. the answer is exploration drilling, keystone pipeline and let us unleash the american energy sector again but they won't do that. >> the administration saying this is a court needed relief with five of the countries china, india, south korea and the united kingdom as well as japan. the latest fox news poll shows the president's approval rating on the economy is 36% when last may was 51% of people approved on that. there seen higher prices at the

gas pump, higher prices when they go buy at the grocery store and there seen higher prices for everything that they buy as companies pass the cost on. liz: that is just about everything. i don't know anything that is going down. the oil with the strategic petroleum reserve is stashed and underground salt caverns in the texas and louisiana coastline. you look at aerial footage of that right now. president biden says is opening the floodgates to tamp down high gasoline prices. there's so much more to the story. choreographed corrugated effort with the largest oil consumer has a goal, send a collective message to the 17 opec nations plus russia. it is like a rainy day fund to be used only in emergencies. the question, are rising prices and what are the risks of using as a mechanism. we know chevron and exxon mobil are the house leaders at the moment and the dow was up 159.

the spring and the president of the repenting and energy group and served as energy advisor to president george w. bush. bob, your calling this a dated raid, why? >> to answer your question, it's great to be with you. this is a political emergency with the exception of bill clinton in september 2000 there has been a bipartisan agreement that we don't use the national security reserve. the oil reserves we keep for wars or major storms. we don't touch that to put down gasoline prices. today is a historic day. for the second time since 2000, president biden has done that. he's done in the biggest release ever, he's done it with five other countries. it is a fateful precedent, it's a big change in how we think about energy policy. to be fair both republicans and democrats have started drawing

down the spr to pay for regular budget expenditures. both parties have plenty of blame to share for whittling down the national security asset but today to get to a new level. liz: definitely we have not seen the strategic petroleum reserve tapped. however, president trump was in office and he did consider such low gasoline prices trying to prop up the price by taking a some off the market and filling what was left at the top of the petroleum reserve. most importantly if this was this group, a cabal, we do produce oil, mostly non-oil-producing nations, china, korea we can show these countries here. how do you think this is going to trigger any kind of response from saudi arabia and the rest of opec, how will they respond to the non-opec nations trying to get them to hear their message. >> that is the million dollar question.

that is why crude oil settled up over 3% today, starting yesterday opec plus countries and ministers began signaling to the media, that they may not take this release sitting down. they are meeting next december 2, next thursday. they will have a meeting and they may adjust the pace of the increases, the increased quotas by 400,000 barrels a month, less than that is coming out of the ground but they may say if you're going to dump a bunch oil into the market in january and february when we see surpluses maybe we will slow down or increase. i think that risk is some of the reason you saw traders buy the dip today. liz: scott is coming into the conversation, trading volumes are typically light during the thanksgiving holiday shortened week. we have chevron and exxon mobil, pretty much at the top of the dow jones industrial not to mention the refiners in the other names in the oil world. how does this play into the broader market picture?

>> happy thanksgiving. you take a look at what's happening today, the president taking action really is a bit of a political move, there is a lot of pressure coming on with inflation in the economy is also added time with liquidity levels in the marketplace a lot of playful takeoff this week as we get closer and closer thanksgiving. we have a half a day. people are not in their to offer out on the supply side of the stocks as a commodity side. what is happening a few buyers that are in their are pushing the prices higher than anticipated that they would. that's throwing the market what's interesting going back to the top of the show when you talk the dow being up today when

you look at the energy stocks, energy and the financials, the banks that's was pushing the market on the downside and the balance of the market is lower in energy if we look at the select etf is up over 3% today, this is where people are looking today the whole focus of money going into the market and the technology stocks. just as were going into black. liz: too that point we are seeing dramatic swings in one direction from big oil to the refiners. i do have to point out the timeline october 26, gasoline was higher, $2.52. we do have a right now at about $2.32. same with october 25, $83 a barrel is that 88.

the well telegraph message but the history of the releases is rather interesting we want to educator viewers, hurricane with harvey, isaac, katrina is when we tapped it or started to make some moves to other oil companies that were finding themselves off-line and then you have the operation desert storm. tell me exactly what do you think is a possibility. again this is not a group of shrinking violet nation that came together to send this message. do you not see the side of it that is really crucial to say to opec plus. we have lovers we can pull to. >> that's with the biden administration said it's telegraphing sending a message to the saudi's. if you don't act, we will. the challenge is sustain power.

we have five or six quirk guns, they have a garden hose. they can beat us in a war where we are competing with each other to remove oil from the global oil market. liz: are they going to cut down production. >> they may slow the rate at which they increase production if not halt tapering. liz: great to have your perspective, scott, our trader with his goggles when it comes to the market. how about this the truck driver shortage driving retailers crazy, one sectors problem is uber freight solution the hail your own truck driver app finding the world needs and services desperately in would be truck drivers are embracing the business model. as fox business exclusive joins us next on how ny is fixing the supply chain broken links. the closing bell ringing 49 minutes, the dow was at 169.

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liz: look at best buy there shorting out in this final hour plunging by 12 and a third% after the retail giant beat on the top and bottom line but investors were not buying best buy ceo cory berry's comment that the electronics chain has supply chain challenges every holiday season and this year will be no different. it is different is the fact that one of the biggest breakages in the supply chain involves a trucker shortage. the american trucking association says the industry is down 80000 truckers right now. that is triggering panic among retailers would know when to move their goods, no one and lesher the uber of freight hauling. joining us on a fox business exclusive. the head of uber freight. how much has your business ramped up. >> such an important topic everybody needs to be aware of. our business ramped up significantly. there is a shortage and people

need capacity and we saw massive acceleration in the business over the past 18 months. we have more than doubled and we have more than a million available. liz: you have a million truck drivers in the american trucking association says there's an 80000 truck driver deficit or shortage. i suspect that there talking specifically about truck drivers for the logistics companies. i want to talk about how you do it differently why are you not having trouble with the truck drivers explain how the algorithm to match. >> there is a massive need, were sitting back home and more and more goods if they could to ask increase in the amount of goods that are moved in the end of the

day. that is being moved by a truck. what we've done is made it so much simpler to own the company because we can make them so much more efficient by allowing them 24/7 not just when the business is open so they can mobilize and pick up an opportunity 24/7 lycan over they can open up and choose what they want to get and when so they can be much more specific with their needs. and with the at may make it super simple to plan their route 100, 200, 300 onto the way to the next stop. we can optimize the route so they only need five or ten to a load next to them.

there's a lot of efficiency in the system that we can help them discover. liz: how do you do cost visibility with the client who says i have a couple of times but it's not necessarily a full truckload. in fact it's in ltl less than a truckload. >> that's the beauty of optimizing supply chain we don't want to just optimize the scheduling. we want to optimize the whole supply chain and how the decisions are being made. when they have a load to move it might be easier to move it at the dock and bring it down to a few truckloads or put on the real that's what's acquired it recently to allow us to optimize those decisions and make sure they're doing the best choice. we can optimize what is best for the supply chain and we can

presented in the most optimize way for truck drivers and have it at the right time instantly. liz: the right driver wants to be paid in some of the biggest complaint right now by truck drivers who refuse to go back on the job, number one they have low pay but also with the congested ports there waiting up to 8 - 10 hours with no pay in order to pick up loads. the only paid by the mile in the dues and inefficient use of their time and wall street is on the road they don't get to go home at night. you guys have been able to eliminate that but what about how you pay them? >> there absolutely right if you think about how inefficient their life is we think about them being stuck on the road, truck is waiting in a facility six, eight hours a day whether it's a distribution center waiting to be loaded and

unloaded that is crazy eight or ten hours, we need them on the road moving our goods. we've been focusing trying to make that easier for them in an example we allow them to rate the facility experience and we share the feedback with the shipper, we have millions of those data points in the shipper's, this is basically gold for them because they know what to optimize and what they need to do. in the inefficiency and make it more efficient. the boss point. it takes them 60 - 90 days to get paid. after their being paid and they were focusing on instantly we just released a debit card and a bank account so when they're doing that they can be paid instantly the second they finish

the loan instead of waiting 90 days for the small businesses to be paid. liz: you are disrupting the trucking industry but it away at the silverlining because it's helping your business. have you seen some big chain stores for emergencies or whatever they need. >> massive adoption. >> of the fortune 500 companies. >> we see the biggest chains using the frates and last-minute needs to 12 - 18 months in advance and instead of using the platform more and more as there's more and more needs were just doing our part with the situation. liz: the mother of invention, necessity, great to see you,

please come back. two pandemic all-stars taken a fall, zoom communications kathy woods signed a bit of trouble as more and more people make their way back to the office. that and more straight ahead with the closing bell ringing and 38 minutes the dow was holding onto 129 points. the s&p is toggling back and forth, green red, green red, down to a half points. stay tuned we're coming right back.

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liz: retailers in the red and there is one common thread margin pressures i told you about this last week watch for margins, abercrombie on fitch the largest percentage since may of 2019 the company shares are down 12.5%, they also own the

retailer hollister. dacey hit the fourth quarter margins due to supplier chain cost which are obviously climbing. urban outfitters be third-quarter revenues that comp net sales anthropology came in lower than the previous quarter due to supply chain issues hitting inventory levels that includes vietnam factory closers and increased airfreight usage. that stock is down 90.5% then you have an upbeat earnings report not enough to save dick's sporting goods dick shares down 4% after e-commerce sales rose 1% from a year earlier when shoppers were in the throes of online shopping and buying. the one retail spot, dollar tree or should we say a dollar 25 tree hitting a record up 10% to

$146.13 for the top of the nasdaq 100 after he said it would price the majority of the 1 dollar item out of dollar 25 in all stores. they are increasing the prices which means there margins at least that's the impression the margins will grow. dollar tree will test to offset and now they're working and going all out. zoom communications sitting at the bottom of the nasdaq 100 hitting a one and a half year low. it is down 15% to $205.76. the pandemic darling which skyrocketed to work from home glory is seen a drop off for the video conferencing services the forward guidance of 19% shows the smallest increase in year-over-year growth since the company went public in 2019. zoom one of the top holdings kathy woods arc innovation the fund is on pace to close lower to the downside and eight of the last ten trading sessions down

16% year to date fueling the recent selloff the treasury yield put pressure such as tesla and roku and zoom. show me the crypto that's not how the famous line goes the nfl player says he's taking his entire salary in the form of digital currency, find out who it is and it's a big name and how he's doing it next. bitcoin shares moving higher. up 2.5% to 57503. ethereum is higher and so is like when. right now 29 minutes away the dow climate by 142 points. the nasdaq down one point will see if they can punch into the green.

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liz: l.a. rams wide receiver odell beckham junior is going to take his entire four-point to $5 million nfl salary in bitcoin in a partnership with squares cash app, he is the very first biggest names in the league to take 100% of his paycheck and crypto. some have taken some in the past. he sang given to me in bitcoin. bitcoin is moving higher we just showed you that is gaining 2.5% or $1350 to almost 57500 but it's a multimillionaire athlete taking his entire salary the latest step to the global adoption of crypto currency and when will the fund world, along for the ride. with us now ceo, the bitcoin

strategy etf which turns to futures just launched last week. we can look at that right now. two weeks ago your bitcoin fund did not get approval. >> correct. >> we call the physical bitcoin etf was rejected ten days ago by the staff and there was one last gasp of oxygen the top five commissioners will take a look at that decision as well. liz: it is not dead? >> it's not dead, dead but it's on life support. liz: you are not going to sit there and try again if they rejected? >> were with 20 other people trying to get the bitcoin funds approved we were first in line we've been trying for years to get the approval. we will push as hard as we can and hopefully the sec sees that. it's a good thing for investors and better than the futures

product. liz: the futures product is up 3% today how do you feel about the performance and to launch last week. >> i think people are under allocated to bitcoin read we in 2017 said bitcoin was a compliment to gold and i still believe that. no matter how long you think inflation trade is going to last with the fed tapering, what is different in this cycle that bitcoin is what investors are buying, not just gold. liz: what you make of hearing the story like odell beckham junior i'm going to take all of my salary in bitcoin obviously is partnering with square i don't know fees guaranteed if the price were to collapse in some way shape or form but what does that do for the collective adoption of bitcoin. >> there's somebody things that have happened this year. every major payments company uses bitcoin. you can tweet and pay people and bitcoin on twitter. that's the messaging app.

the fact that square, paypal, venmo and everyone uses crypto, that is done the payments industry has adopted it and it's one of the benchmarks. can i give you my favorite thanksgiving dinner question. without getting technical it's about databases and ethereum is a leading database. i was asked the crypto skeptic, how much economic value has been transacted on the theory and watching this year. they will have no idea and is three and half trillion dollars. some of the financial transactions is not like buying. after again dollars worth of shoes but it's a tremendous amount of economic value on one of the database protocols. liz: surely you looking into ethereum fund are you not. >> that's been rejected by the sec as well.

liz: here's why they rejected the bitcoin fund they say you didn't satisfy the requirements for a sharing agreement on surveillance. when they say surveillance, making sure that there isn't going to be fraudulent activity or market manipulation acts. why not look at that and say what do we need to do to check that box? >> is a new standard that they're applying to bitcoin that they haven't applied elsewhere. before the etf is the etf going to trade well in the regulated market. in the new york stock exchange or whatever. now they're looking to the underlying markets which they haven't done before do they look at the underlying gold market, did they look at the drive shipping market which is shippers with prices around, no. is this fair to bitcoin? liz: the sec's concern about all the transaction volume that happens in bitcoin and they have no jurisdiction over. that's what makes them

uncomfortable. liz: what is your next big fund that you hope to float. >> i don't know we launched a green metals etf which will produce later, that came in the last couple of weeks. in the energy transition trade war trying to move to greener world and electric vehicles use many multiples of these metals then do conventional cars, over five times. it is actually true that copper and lithium and some of the metals are net positive for the environment even though the process. i'm excited about that one. liz: as we look at metals were watching high-grade copper and certainly some have moved to the upside. happy thanksgiving. i'll get your cocktail party trick. >> three and half trillion. >> i'm sure i'll be googly eyed and they'll say you're an idiot.

thank you very much. >> one of the biggest reasons amc entertainment is up more than 1700% this year has been the motivation, the drive of david versus goliath retail investors trying to punish the wall street short-sellers by.under buying of the stock. now one of the short-sellers who is kind of infamous, people know him has come up with an idea to offer amc shareholders a unique dividend, mark has brought this to amc. amc less than thrilled but charlie breaks in a can't miss interview coming up on what the plan is now. in this week's addition everyone talks to liz, we speak to editor-in-chief caleb silver, he went from hitchhiking around south america and filming footage of black bears for nonprofit to pivoting into business news.

how does he go from chasing bears the following bull markets on the economic encyclopedia website on record. you have to hear his story listen on apple, google, spotify. the closing bell ring in 19 minutes, the dow climbing 88 points and were keeping an eye on the s&p is up four points, little bit of a horse race. still languishing down 102. charlie breaks it next.

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liz: remember coley caulkins famous home alone adventure, that's what amc entertainment 1740% run-up this year looks like. one of the biggest proponents

has been an epic battle between the wall street short-sellers betting against the stock versus amc apes or retail investors who have banded together determined to buy up the stock in siu's the shorts. if they were to eliminate those amc would fail and trigger the departure of the eighth army as well we bring in marco notice of former short-sellers who had come up with a unique proposal for amc investors along with charlie gasparino. welcome, welcome be met thank you for having me. >> i never seen so many comments like don't have this on your show. i will say this, i hate cancel culture. i think what you are saying an important piece of amc puzzle solving what you are proposing. >> thank you for having me on.

the thing that ticked me off and got me started was january 28, when the buy button was pulled for a few stocks after. i thought that was unprecedented, i thought it was wrong it illegal and a lot of people got screwed in that moment individuals. joe sixpack if you will. my lawyer wrote a letter to the senate and congress read i was on numerous podcasts saying this is absolutely outrageous. it really bothered me that people did not focus on how bad these individuals were screwed on that day. it was terrible. i let my anger die down a little bit and i filmed the movie in portland couple of months ago in the mulligan brothers were doing a documentary on this were telling me the stories, the horrific stories of how these people got destroyed when the buy button was pulled.

>> they did okay afterwards. >> some people may have made, a lot of people lost life changing money. i was outraged by this and second by. the mainstream media has forgotten these people. >> i am not in any movement, i am a lone wolf i have me myself and me. liz: what your proposal. >> let me finish this was bothering me so i have been involved in been an investor for overstock for more than four years. it was controversial when i bought overstock but is up ten times and overstock owns t0 which is an alternative trading system and you can trade something called security tokens on the platform. my proposal was to come with an nft, souped up nft which is the

security token they are popular these days in nft with utility whether it's free popcorn or movie passes or a special golden ticket would be debited out to amc holders and you would provide value to them, to it would be something else in a revolutionary thing and i think finally you would clean up the mess which is known as wall street. >> if there is naked short selling i want to unpack this for the viewers, people would want to get their hands on that nft. you would know if you're covering or not covering. to me that's a fascinating plan. what is adam aron say about this, have you had any contact with him about this? >> a couple of weekends ago on my way to spain i sent wedbush a pal of mine introduced me too

adam aron, here's his e-mail and phone number, i only sent him five e-mails back and forth and he said he would think about it. then when the fire drill which was last week adam aron sent me an e-mail and said he wants me too stand down he does not want me contacting him and that's that. >> does it go away, the plan? >> i think the plan could be used for anybody. i think the plan is a great plan and i think it's a great idea. the only thing a ticket in the last week is abuse personally but no one has said anything about the plan. >> is part of the game when it's involved with amc. liz: putting forth this kind of token is not necessarily illegal. the security flaws require that

you have a legitimate business purpose and you created a record whether on twitter or podcast that your business effort is to kill the short-sellers. that's not an illegitimate business focus to watch something like this. are you opening up amc to litigation if you were to pursue this? >> what you're saying is 100% false. i've never said that and i never said it was something to squeeze the shorts. i'm a short seller at heart and i know the heavy price the people pay. especially when you do it legitimately, would you do it non-legitimately and you play around in marketmakers short on down tics, you have a problem. my main thing with the fto, there is an economic interest involved. macy said they want to nft balloons from the parade. >> i think what you said a

secondary outcome could be the short squeeze in the primary outcome is to create value. i need to ask you when quick question. amid all the stuff you immersed herself in amc in your shareholder. do you really think there is market manipulation that fidel secures doing stuff screw with the company. i want to believe that because i want to break that story. i can find no evidence it does not make any sense. >> charlie i have a lot of evidence and i've had a lot of people come to be the past nine months. i think it should be illegal, it's illegal in canada, australia, the uk and citadel is a crafty out put, the five times smarter than goldman ever was and these guys are rascals. >> everybody in the industry is a rascal. >> you and i are rascals, the main thing these people need a

voice and i want you to come on and do a call with me. >> i answer to a higher authority is called liz claman. liz you can come onto. i think charlie needs to talk to these people to understand exactly what is going on and i thank you, guys can judge for yourself. liz: marc cohodes thank you very much, we are coming right back. e a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. . .

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♪. liz: the almighty green back, how about that? dollar index holding near 16 month highs following renomination of federal reserve chairman jerome powell. why would that happen? the dollar often strengthens on rate hike expectations making small cap stocks increasingly attractive, according to our "countdown" closer, george young, portfolio manager of the

villere balance fund. explain that to view earns, powell renomination, rate hikes potentially, higher yields, then what? a stronger dollar? why would that mean small caps are attractive now? >> i think the real way to look at small caps is on their valuation. what happened in the last year, s&p, russell 2000 have appreciated about 31%. if you look at a time before that, liz, we're long-term holders of equities. before that small cap stocks appreciated 8% per year, versus the s&p at 14%. i think that is the real reason. we're bottom up oriented. we think there is good value in the small cap stocks right now. liz: you have names. porch group, freeport-mcmoran, which is a big copper producer. we had him on saying they launched a green metals fund, copper would be in that, but what is behind your picks right now? >> i think the small cap theme is important. anybody who has moved trying to

find right contractors, utilities. porch group is a software company that bought company that processes 77,000 mortgages per month. great opportunity for porch group to get embedded people who are moving that is the big thing nowadays, the price of homes going up. there is a dearth of available home stock. so porch group is a great play to help your move be more successful. liz: we're looking at some of your picks there. porch has a very nice move already to to the upside, compad to the s&p which is up 28% 52 week change is 130%. we have 30 seconds, george. we're seeing resilience with the s&p. fighting into the green up eight points. what do you think happens between now and january 1. >> i think it's a stock-pickers market. it is very important for any sort of stock buyers what are the p-e ratios. performance measurements which

can make a stock attractive. again a lot of people are it betting on companies that have no revenues yet, have no real earnings. again i think it is time to get back to basics to look at beyond stocks what they can offer. [closing bell rings] beyond what they offer in terms of earnings. liz: imagine that, earnings. george young, thank you so much. all right. looks like green for the dow, s&p and red for nasdaq. that is it for us. kudlow is next. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. president biden spoke today selling his new idea of putting 50 million barrels of oil from the strategic petroleum reserve on the market. that would cover about three days worth of oil consumption. plus he has some kind of international consortium of countries making vague problem is, so far producing virtually nothing. so it's a terrible idea in my view.