the move studios are going to be part of the multi-verse so think of disney, franchises that are out there, think about anything on the entertainment side, sony pictures is another area if you look where that comes across and then think about anyone that's able to do streaming, be able to create those new types of areas like roblox. charles: the good news with nike being on the metaverse is they always had my size, always run into trouble with that, ray, shana, thank you both very much. liz claman, in the metaverse i get the house i want, the sneakers i want, i get everything i want, now just got to figure out how to get in there and get back out. liz: i just want the chocolate i want, lots of it. charles: they could figure that out, i'm sold. liz: i'm there. i'll see you in the verse, thank, charles. sizzling hot wholesale inflation numbers sending wall street traders to the sell button as the fed kicks off its two day meeting, the nasdaq is really taking the biggest hit right now as far as percentages are concerned it's down about one and a third percent or 209

points lower as markets try to read the fed tea leaves our floor show traders are jumping into their seats to tell us if a so-called powell pivot will freeze out the much-awaited santa claus rally. amazon under scrutiny at this hour over its workplace safety training, after six employees died in friday's deadly tornado in edwardsville, illinois. reportedly, they were prevented by managers from leaving the factory floor, even as warning sirens screamed. we will take you straight to the site of destruction for the very latest development. meanwhile though, one building materials company already rushing to the aid of businesses and homeowners in the path of the tornadoes destruction. the ceo, you may not have heard of this company but you will now , james hardy industries, publicly traded is here in a fox business exclusive, to tell us and show you what he's doing in this season of giving. and the cannabis company that thinks weed and whiskey is a

winning elixir, tilray ceo irwin simon is here to reveal what the he plans to do with a colorado-based distillery. it's a fox business exclusive we'll push him on the new recipe s they are working on but first, we begin with a fox business alert, while the federal reserve is likely sharpening its hawkish talons as we speak, investors particularly those with tech names are headed for the hills at this hour. the s&p and the nasdaq are both down with the s&p losing 38 as we said the nasdaq down 210. the blue chips are, well, pulling back by about 84 points, leaving the big tech sector names down the mind shaft, microsoft and salesforce, crm, the dow's biggest laggard down about 10 points or 3.8% followed by mr. softy, which by the way as microsoft pulls back by $12 or 3.5% is suffering the worst session since the start of the pandemic last year, both names are off their lows of the session. investors either way are getting

no help in the broader market from the latest producer price index print, the prices paid in november to manufactures rising 9.6%, that's the highest in 11 years but even as goods get more expensive, consumers are not holding back on the spending, according to the top guy at bank of america. the head of the nation's largest bank, brian moinahan said consumers are spending at a faster rate than he has ever seen and spending on the bank's debit and credit cards is surging, but what happens after tomorrow, what's tomorrow? okay we're 23 hours away from the federal reserve announcing whether the central bank plans to accelerate the winding down of its stimulative bond-buying program put into place during the worst of the pandemic. now, if it does speed up that process, it's called the powell pivot, will the powell pivot, freeze the santa claus all chi according to market stat geeks officially is supposed to start tomorrow.

to our floor show traders, scott fullman and scott because bauer. all right what do you see as going on in the market psyche right now? >> you know, a lot of risk off obviously, and with the potential for rising rates here. these pet companies that really are not making money or have just in credible multiples, incredible pe's those are the ones getting hit the most. that's where people are completely just shedding any longs and actually taking big short positions as well. that being said, liz, there are a couple out there, you know, based on what may or may not happen with the fed here, that i really like that i think you can buy on the cheap here and some of these cloud security stocks, like a z-scaler, both of those i think you can get in on the cheap on a big rebound here. regardless of what the fed does. overall though, what is the fed going to do? i think they absolutely need to

accelerate the tapering and they need to tell people, yes, we expect a rise in rates starting in whether it's may, june, get that out there. i think the market accepts it and if they do come out with that news, i think it's a good thing for the market. liz: yeah, maybe even march who knows. we're looking at z-scaler one of charles payne's guests just said she had made so much money leading up to what we've seen over the past six, seven months that she's already sold out ofz scaler but obviously, bauer, i'm going to call you by your last names you see opportunity there, and fullman, when you look at, say, for example,, what's doing well today, check out the financials and i'm not just talking about the big name financials. you've got some of the major regionals doing very very well, showing muscular activity here, so talk to me about what you think is the opportunity moving forward, if the fed does announce tomorrow, you know what we're speeding up this process of scaling back the purchases. >> first of all, i believe that the fed really should come out

and say that they're going to speed up not just on the tapering, but they are going to speed up on the idea of potentially raising rates, because of the fact that we're getting very very high inflationary numbers, and the fact is this is not as transitory as the fed had said back six months ago, eight months ago, but the fact is theres also political tug of war going on here because powell is up for recertification, in that position, so they may still hang out to be a little bit more cautious on their wording, but the fact is, they really start to show this because they like to be transparent and you're right, liz. the financials do need to go up here because the fact is that as rates go up, we will see their margins improve a little bit and that's good for them and it's also, it shows where we are also, in the cycle and the economic cycle that we're moving more towards the latter stages of the

economic growth stage, so the fact is is that that really should be happening and we will not only be looking as you said at the major, the money centers, but also there's a lot of good regional banks out there that people should be looking at, like regions financial, we think , is one that they should really be turning to, because the fact is, these companies will tend to do better as they see their margins go up and the perception by investors will really carry those shares higher liz: we've got the 10 year yield which was languishing around 1.43 most of the session now at 1.44 so scott bauer, that brings up the point about these financials. they tend to do better when rates are moving higher, because they can charge more for lending, and their margins look better. what else might be good here? you were talking specifically about some of the techy names. what about the fintechs, such as sofi, for example? maybe even a coinbase, or you know, robinhood which is having some trouble lately. >> you know, coinbase is one

i'd probably stay away from just because it is so tied to the crypto space, which i am still very bullish on, but when you talk about a stock like sofi, paypal, square, these stocks that have come off, you know, 30 , 40, 50% from their highs here, i actually think that those are a great space to be in as well. i don't like them quite as much as some of the money center banks, but absolutely that's a space that i want to belong especially if the fed is accelerating the taper, and they come out and say, you know, we're raising rates by the time second quarter comes next year. liz: yeah, look at sofi, it's up about 16% year-to-date, not a bad move there, so as we keep an eye on all of these names, we really appreciate you guys weigh ing in because you're watching the flows and this is really important for our viewers we want to remind everybody though, tomorrow fox business is going to have all of your fed day pre and post-game analysis of the decision, the press conference, by fed chair jerome

powell begins at 2:00 p.m., no, it begins at 2:30 p.m. eastern. he makes his announcement at 2:00 p.m., 2:30 he starts the news conference but the q&a, this is the most important part, it starts kicking off right around 3:00 p.m. eastern, so you've gotta be here, because that's when the reporters drive in and start pushing him on who, why, where, what and how is going to happen with those interest rates so stay tuned we'll see you tomorrow on that. in the meantime, fox business alert the race against time continues as rescue workers crawl through rubble in kentucky to find survivors from this weekend's deadly storm that crossed six states. at this hour, the latest death toll stands at 88 with kentucky accounting for 74 of those who parished. more than 20,000 people remain without power today, 10,000 homes and businesses have no water. to illinois, let's flip it over to these pictures where you're looking at the amazon warehouse, which collapsed there friday night, and questions are

mounting about how amazon handl ed the situation as storm sirens warned of the coming tornado. brandy campbell is in edwards ville, illinois outside the damaged amazon facility, with the very latest news, brandy? reporter: good afternoon, liz. well, here in edwardsville we've seen damaged portions of this facility slowly taken down. that ef-3 tornado caused six deaths and still has one person in the hospital. now if you take a look behind me , it might look like a complete building, but to the back of this building is just piles of rubble, and that, because of that collapse, osha has been here since saturday. they've had compliance officers here after they opened an investigation into the building collapse after that tornado came through, they will have six months to investigate issue any citations, and propose monetary penalties if they find violations of workplace safety or health regulations.

meanwhile, first responders went from search and rescue to recovery mode. that's now over. today amazon regained control of this site. they are now going through with engineers to do structural analysis and they are beginning to takeaway any debris that remains, but the big impact remains with the families who lost loved ones and the employee s that were inside during that tornado. >> our focus really continues to be on the family members of those who we lost in this tragic event. we want to make sure they know we're here to assist them, we've been doing outreach to them all, rental car, food, shelter, setting up a resource center for them that opens i believe tomorrow, really just to get them access real easy access to any counseling services and other goods and services they might need. reporter: all right, they really have been emphasizing that they're focusing on the families but also they will be taking sometime to decide if they can

salvage this building without having to take it all down. back to you, liz. liz: brandy campbell, please keep us posted thank you very much. all right, right before christmas, and the tornado tragedy has obliterated thousands and thousands of homes , but one company is rushing now to the rescue. james hardy industries makes building materials that are used to fix some of those homes and businesses already it's happening that were destroyed in mother nature's deadly path. we have the ceo coming up on what he's doing right now, in the season of giving. with the closing bell ringing in 48 minutes the dow is down 72 points, earlier folks it was down 209, so we see a bit of a comeback. speaking of that the "clayman countdown" is coming right back so stay with us. as an independent financial advisor, i stand by these promises: i promise to be a careful steward

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watch the full story at www.xfinity.com/sing2 liz: well, tech giant apple will just have to wait another day or maybe more to let the $3 trillion market cap level , because it's down about half a percent at the moment, but apple employees can already celebrate this right now. during the season of giving, the iphone maker announced its employee giving program has

raised $120 million this year alone for a grand total of 10 years, 725 million, over just a decade. unbelievable. the money distributed to 39,000 needy organizations worldwide, but when it comes to need, look no further than the state's torn apart right now by this weekend 's killer tornado and you just look to the company already rallying the rebuilding process, james hardy industries, ceo jack trong joining me how the global leader in fiber cement siding is springing into action. jack welcome to the show. your company has already made a $100,000 donation to the kentucky red cross in the past couple of hours, but i understand that's only the beginning. what else are you doing and what else are you expecting to do? >> right, good afternoon, liz. thank you for having me on the show. certainly this past weekend is the very tragic events and affect us all at james hardy.

our hearts go out to all of the families, certainly the families who lost loved ones and so our immediate action is really about the donation of $100,000 to the red cross of kentucky, particularly to ensure that the families there will have food and shelter and heat and medicine and at the same time, we're working with habitat and humanities particularly in the state of kentucky and tennessee to help rebuild homes, and we're donating james hardy fiber cement products we use in building exteriors of homes so that we can rebuild 100 homes in those particularly affected states, so we're trying to do our small part to help rebuild lives of those folks that have lost through this tragic event. liz: let's talk about that rebuilding process and the fact that maybe your company is just being introduced to our investor

audience at the moment, but you have this patent protected material that you make, that in essence, is pretty much sand and natural cellulose that make this fiber, this special cement fiber siding. what can that do for rebuilding in homes that are perhaps in the path of tornado allie? >> you're absolutely correct, liz. it is a very unique and patented material that allow us to make what we call fiber cement, exterior solutions that protect the homes from all the elements in terms of its non-combustible, it's resistant to wind load up to 220-mile per hour, so it's rated for in the flood zone by fema at the highest level, class 5 so in addition, and also very durable, so we actually guarantee the product for 30 years and so from that perspective, that protection of property is very very important

but equally important, allowing the homeowners to really have the exterior of the home aestheticly looking nice and have nice design, different colors, and then also, it is made from the very sustainable process, and it's lightweight, and it is the material that allows us to replace wood, vinyl , stone, bricks, and so forth that are sustainable in the whole value chain. liz: i know we're talking about tornadoes, but hurricanes are a huge issue in this country. wildfires, you know, the part of the problem with many of the people in california, my home state, is they continue and they have nowhere else to go, obviously, and this is their home. they rebuild and yet, the drought conditions continue. we have climate change, we see what's happened over the past couple of years, it's just horrific. what about fire retardant or fire resistant material?

shouldn't homes now being rebuilt as almost part of code in fire resistant material? >> your absolutely correct. i think certain states and certain countries have already built in those codes, particularly in the state of california, and specifically in the city of los angeles so our material is non-combustible and it's rated in the fire resistant assembly up to one to two hours, so certainly, it is as we move into the future, building new homes and also remodeling homes with sustainable material that is also resistant to fire resistance and resistant to high wind hurricane and so on, what we call important. liz: well i would like to point out to our viewers who are always looking for interesting trades, that doing good is good business. your stock is up more than 42% over the past year, and will continue to watch it, jack, thank you for what you're doing

for the people of kentucky. >> thank you for having us on, liz. liz: james hardie. time magazines person of the year, elon musk not done selling tesla as he sparks a run on his favorite meme crypto. billionaires, ev's, dogecoin, and cyber whistles all ahead in today's pop stocks closing bell, we are about 39 minutes away from that, look at the dow, carrying losses moment-by-moment we're now down just 61 points.

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liz: fox business alert, santa claus doesn't yet appear to be a bitcoin bull. while up today, and trading at around 47, 144, the crypto of

record has retreated 30% from its november 10 all-time high of nearly $69,000. cryptocurrency traders say if the federal reserve does accelerate the tapering of the bond buying program, and we'll know tomorrow, that will weigh on bitcoin's a lure as an inflation hedge, now despite the weakness over the past couple of weeks, bitcoin-related stocks have not fared too badly. in fact the year-to-date look at marathon digital holdings they are the big miner up 259%, blockchain up 45% and grey scale bitcoin trust has increased about 12.6%. dogecoin though is a different story at this hour, it is surging bias much as 33% today, after tesla ceo elon musk tweet ed, "tesla will make some m erch buyable with doge and see how it goes" and has expressed his affection for the crypto before and posted positive tweets about the meme coin, all throughout 2021 let's

look and see what it is doing, dogecoin right now is at around $0.18 for a gain of 16%. i already purchased my tesla, are you ready? look at my cyber whistle. it's like a little cyber truck here, how cute is that? right? went on sale about two weeks ago , $50 and no i didn't get it at that price because it immediately sold out. want to hear it? >> yup. liz: [whistle blowing] >> it sounds like a whistle. liz: all right, meanwhile, elon musk's tesla selling spree is not ending. he sold another $906 million worth of tesla shares yesterday, according to data analytics platform insider score as of now , musk has now sold a total of 11.9 million tesla shares. you may remember last month, musk took a twitter poll asking his followers whether he should sell his stock to pay taxes, and

their answer was yes, but the main reason he appears to be selling is to pay the taxes on his compensation package but we're looking at tesla now, let's call it flat at $965.46 a share. the charge on ford shares going away after toyota announced plans to invest $35 billion to build up a full line of battery powered electric vehicles by 2030. that is an area, ford of course, wants to establish itself as a leader in. separately, daiwa downgraded ford to sell citing weaker demand next year as the potential of higher interest rates might very well weigh on cars as rates go up. we do have ford down about 1.25% toyota up 2.6%. one of the top names in cannabis thinks weed and whiskey make a wonderful combination, but til ray ceo is here next in a fox business exclusive on the new acquisition he just made of the breckenridge distillery

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, tilray chairman and ceo, irwin simon, and now, you're beefing up this budding booze business, i'm dying to know how you envision what you do with these two things. is this like oh, your peanut butter went in my chocolate, your weed went in my whiskey. [laughter] >> so good afternoon, liz, and great to see everybody. listen, breckenridge distillery is a great brand, a great bourbon created by two physicians and have grown into a great size, pretty exciting. so tilray being a diversified company, we have a good size cannabis business in canada, and adult use in medical, we have medical business in the u.s. , and europe, sorry, and with that , we have consumer brands in the u.s. , and breckenridge, which is a bourbon brand today, which is well-known in california, sold in 50 states and our plan is to continuously grow the breckenridge business

to over 100-plus million dollars but at the time of legalization, consumers will know the brand and instead of alcohol, it will be infused with cannabis, or t hc, so you'll have bourbon that's infused with thc, not alcohol, and that's some of the exciting things that will come out of tilray over the next few years. liz: okay so we've got a bottle of this bourbon whiskey right now, and here it is, its got the snow melt right on the , it says colorado snow melt. is that true or when they really make it with the snow melt from the colorado rockies? >> they really do and most bourbons are made in kentucky but this comes out of colorado, and it is made with water that comes from the colorado snow there, and great product. i go out there and tell everybody you should try this product. liz: well, people love these craft spirits that has become definitely a thing but when you talk about infusing it with, i don't know, thc, cbd, weed, or

the marijuana derivative, tell me about legality of that. don't you have to wait until the entire nation has legalized marijuana or how would you be able to manufacture and of course market something like that? >> so let me be clear, number one, you're 100% right. we as a nasdaq-traded company, we do not sell any cannabis in the u.s. at all. liz: right. >> and in regards to a bourbon, you can not combine alcohol and cannabis or thc together so this be a product infused with t hc, but without alcohol so it's actually two separate businesses. it be the current, you know, breckenridge brand today, with alcohol and it be a bourbon -type of product that be infused with thc at the time upon legalization but i think the big thing is, liz, here is a category today in the bourbon category, it's one of the fastest-growing category in the spirits business along with tequilla. here is a business and you know

i love brands that can grow in 50 states. i love brands that you can do things and you step back today. millennials love bourbon, and that is the big thing, so if it's a bourbon product, at the time of legalization, there's no reason you can not do a breckenridge thc-type bourbon or breckenridge also has a vodka and a gin, so this will be a brand that will be able, you know, to be an adjacency to the cannabis business upon legalization. very profitable brand, very profitable category, and actually, what it does, it diversifies our portfolio for shareholders. liz: well, that's the point. i mean, you are the king of doing stuff like that, in fact, you ran, you founded hane celestial and then from there, you added arrowhead mills and all of these very very big health food companies and you owned all of the shelving at whole foods, i mean it was unbelievable so you

go from health food to weed. that's gotta be quite the transition. that said, irwin, when you talk about becoming this lifestyle brand, when do you foresee it beginning to really take hold in the stock, because the stock has , indeed struggled. it is year-over-year up about 12 % but it's flat on the year, so far. listen, i say this here, i put out there in the end of july a $4 billion vision by the end of 2024, and how to build this into a $4 billion consumer products company focusing on the cannabis industry, being adult use and medical and other consumer brand s. you know, i think what's happened with a lot of the cannabis stocks along with tech stocks today is this here. consumers ultimately thought cannabis would legalize in the u.s. this year. it didn't happen and with that have moved on to other stocks, but in the meantime, you know, we're one of the largest producers of cannabis in the

world today. we're a company that's focused on medical cannabis which i think there's some major major, you know, opportunities and advantages for. right now, europe, germany is about to legalize cannabis for an adult use which in germany alone, it's a $3 billion , you know, business for us. and malta legalized today for personal use which is a small country but again, you're going to see the avalanche of legalization for cannabis happening, and with tilray, with its grow abilities, with its brands, with its quality control s, its regulatory there, we will be one of the biggest in the cannabis industry and along with that, with adjacencies i love the spirits business and the beer business with our sweet water 420 it'll be great brands there. liz: it's fascinating to believe that malta is the first european country that will formally legal ize marijuana, i think in 2011 they just finally legalized

divorce. but how are you setting up business in europe then? >> so today in europe, there's over 20 countries that have cannabis that's legalized from a medical. we have a major facility in portugal and a major facility in germany. also, we have in germany today, a distribution company that distributes medicines to 13,000 drug stores, so the infrastructure, the grow facilities, the brands are setup in europe and upon legalization of adult use, we're ready to go but the big thing today is, liz, there's a big medical business out there. you have the docs prescribing this for epilepsy, for pain, anxiety, for sleep, so with that , we are setup and, you know , i'm looking to grow our european business to $1 billion, our canadian business to $1 billion, in the meantime, in the u.s. , because of legalization, grow our consumer brands here. liz: great to see you, irwin.

we'll be interested in seeing that non-alcoholic bourbon infused with thc. we'll have you back on. >> in the meantime, enjoy our current bourbon product which is an excellent product and to your point, it comes from colorado, that's made with a lot of the great snow that comes from colorado and a great tasting product. liz: irwin, you don't know the wolves in our control room who have already tried to abscon d with this bottle so this will be gone before the blink of an eye thank you very much. >> thank you. liz: ceo of tilray. have the short sellers suddenly taken the upper hand in their steel-cage match with the reddit levels? the december declines in amc, gamestop and robinhood, have shoved these names to new lows. will the amc and gamestop apes pound their chest with diamond hands again or is meme stock mania bubble finally about to burst with the closing bell ringing in 18 minutes we're

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liz: kind of been a brutally cold december for the meme stock apes, the reddit crowd back in january success actually squished the short sellers betting against amc and gamestop , but since the start of this month, gamestop shares have lost about 26%, and amc stock is 34% this as short interest is steadily increasing, according to ortex data short interest in amc theaters which at the end of november stood at 16%, has now increased to 19% while the short

s in gamestop have grown from 11% to 14% over the same time period. both stocks are still up dramatically in 2021 if you bought amc in january, you're up 1,058% and same for gamestop if you bought it in january you can boast a 685% spike. charlie gasparino joins us now, with more on the reddit rebellion. charlie: we should point out a lot of people don't buy it and hold it like that they trade out of it and the problem with this particularly amc, there's this meme out there, so to speak , about amc, that there's the mother of all short squeezes coming, and that lured people into buying the stock when they read that on the message boards, at 70, 72. we should point out that's the 52 week high, it was achiev ed a couple months ago it's down over 60% from that, stock is up a bit today. here is what i would say about these stocks and you know, robinhood gets sucked into their vortex as well.

robinhood is way, it's like 80%, 85% off its 52 week high. liz: amc is up 6% today, robinhood is down. charlie: but we should point out that the trading, the up-days in amc and you could see that in gm e, the up-days aren't as high as they used to be and the down-days are actually lower than they used to be. liz: lower highs and lower lows. charlie: just look at the trading pattern i've been watching this so what does that mean and i think robinhood falls into this category, because people buy this from the no-fee trading app robinhood, buy these meme stocks. i would say this. there's a couple things going on , the virus, obviously, theoretically not good for movie theaters, the new variant. there's streaming, which even if you look at long terms, take 2020 out, look at 2019 compar ables to today, not really doing so well. amc is still off long term are streaming and i think one other thing, i think, is bad for these

stocks. it's the fed, and you know, the fed, you see , in the past, allen greenspan and other fed presidents, would pop massive bubbles in the market. i remember i'm old enough to remember 1994 when alan greenspan saw a massive bubble in derivatives and risk taking and bonds and he raised rates. it caused some pain, you got the orange county bankruptcy back then because the what was the name robert citron, was the treasury county treasurer and bet against rising rates and derivatives. you could see some of that if rates rise, you could see them popping this bubble and, you know, the problem is they let this thing go on a lot longer than citron did so if the fed aggressively raises rates the stocks that get crushed in this , it's just common sense, anything to do with heavy duty trading, it'll be hood, amc, it'll be gme, and probably be

bitcoin too. i think those are the sort of things that get heard when you have rising interest rates and you have bringing some sort of sanity back to valuations, right because if you have rising interest rates people generally buy bonds. more safer investments. liz: or financials. charlie: so we'll see what happens. watch the fed. i think this is all contingent on the fed but amc is pretty amazing. they don't, it doesn't have the upside potential it use to and it has wickedly more aggressive downsides when you watch this thing. today's a perfect example. yesterday was down 15%. today it's up what 6%. liz: uh-huh. we blow the cyber whistle onou now. my elon musk cyber whistle. charlie: she wants to talk about my lasagne recipe. you've gotta get the ceo on, who i think is doing a good job, adam aron again. liz: he's on all the time. just not when you are. charlie: just ask him once, does

he really believe this bs hads from the apes that kenny g and all these guys are manipulating the stock? it's such nonsense. ask him if he believes in that because he talks to his investors all the time. liz: he sure does he listens to them. charlie: they're pretty crazy. liz: charlie. thank you very much. charlie gasparino, by the way he mentioned his lasagne. charlie is my guest this week on the everyone talks to liz podcast. even if you hate him, you gotta hear it. he outlined his christmas dinner recipe, this guy, you don't know it, he's an amazing chef so you've gotta download it for the big secret he's got a cookbook coming out. it's not out yet so you'll get the recipes first on apple, google, spotify anywhere else you get your podcast. as an independent financial advisor, i stand by these promises:

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♪. liz: four 1/2 minutes before the closing bell on the dow. the dow not making a go of it. perhaps we would see it closer to the flat line. dow 38, s&p losing 37. the nasdaq is the struggle of the day down 138 points for a 1% clip. we have breaking news hitting the tape from united airlines a lot of flashes here. excuse me if i look down here. the company adding more than 200 daily domestic flights to meet the holiday travel demand and, and expects december defend third to be the busiest travel day. yours truly has a flight on the 23rd. busiest airports, chicago, o'hare, newark denver. if you are hungry to add a

slice, not just a slice not the whole s&p 500 pie to your portfolio but you're not sure which portion to take our "countdown" closer has a bite to take out of the entire index. we have david kudla joins us. david, i hope you don't have a flight on the 23rd like dummy me does? >> not on the 23rd, liz. liz: let's talk about the fact the s&p, people think you have to buy the whole thing. you an buy slices of it, specific sectors, correct? >> that's correct. you can buy the growth portion. you can buy the value portion. of course the s&p 500 is a blend of market capitalizations and styles but we have favored, and favor -- the growth component and that you can buy that through rpg as an etf or spyg which own the growth component of the s&p 500 which has gotten

beat up a little bit here on news what the fed might do tomorrow but we still think has further to go. liz: what is specifically in the pure growth invesco s&p 500 part of this? >> well the reason we like it, you know the problem that we've seen, we've seen this rolling correction or stocks within the nasdaq and tech stocks that are off, 30, 40, 50% over the last 30 to 60 days, we've seen what happened with the meme stocks, what we're looking at here is, more quality growth. what we consider those blue-chips, like the "faang" stocks. stocks that have more reasonable pes, good balance sheets, good earnings growth and will continue to do well. many. liz: i'm looking at sectors right now, i have a whole screen of sector etfs overall. what we seem the financial seem to be doing well. we have invesco consumer staples etf flat to slightly green.

kbw banking index t doesn't appear like there is a real appetite at the moment for stocks. do you think that is just because the fed is about to make a big announcement of some sort tomorrow? >> i think that is absolutely because of the fed announcement tomorrow. and investors are scared right now. they're scared, we went from transitory to taper to taper faster to hurry up and rise rates in a matter of weeks. we had larry kudlow on the network earlier about the fed should stop their asset purchases completely. announce that tomorrow and look to a 50 basis point rate hike. when you have those kind of forecasts or former fed president kocherlakota who was formerly a dove, now a hawk, investors are concerned. i think a lot rides what happens tomorrow. there is a lot of concern in the markets right now. markets hate uncertainty. there is uncertainty what the fed will do, what they should do. that is what is riling markets today, even though the recovery we had at the end of the day.

liz: david kudla, just some smart commentary and sense. thank you very much. good to see you. happy holidays. folks we remind you tomorrow is expected to be a very important show. [closing bell rings] liz: you have to be here with "the claman countdown" because jay powell and the federal reserve will make some sort of announcement about their plan dealing with inflation when it comes to bond purchases that will do it for us. ♪♪ larry: hello, everyone, welcome to "kudlow," i'm larry kudlow. of course save america, kill the bill. today produced another nail in the coffin for joe biden's big government, socialist, tax-and-spend, green new deal regulation and policies generally that will sink the economy, namely a blockbuster ppi producer price report jumping 0.8% in november, well above consensus and over the