yield. scott, mark, i wish we had more time, always an honor to have you on. appreciate it. >> thanks, charles. charles: it's been an amazing session in the sense that all the major indices were down, just a sea of red. then we got this little bit of nibbling in the nasdaq. i don't know what that means, but i'm pretty sure liz claman will help us figure it out. [laughter] liz: we shall translate it for our viewers, every tuck of it, by the way -- tick of it. wall street is embroiled in its final hour of trade for the week as a fright arenning increase of coronavirus cases globally drives new fears that the omicron variant could soon cause a holiday hibernation for the economy the likes of what we saw back in the winter of 2020. now, the good news is you look at these numbers on the screen, the dow -- while taking the major hit -- has chopped its 600-plus-point loss nearly in half. the nasdaq, though, is pretty

much struggling to hold on to gain, still up about 47 points, but the s&p losing 25. just about an hour and a half ago dr. anthony fauci warned that omicron is coming on strong, and hospitalizations have increased 4% over the last week. our floor show experts are here to explain how wall street sees the oncoming omicron threat rvre wrvromismisesend federal ieresesttatestt ihe co iansansanotust n n nmioncr amshld briabt. cy g nbeng oninihe t aro ed eth rswoybsecuty thrtnn th cckpohet stwofeofofof cof isf excsixclusive tooxp wt wha w jsndndndow y h c y hanan prot t otect seec aseecndndndndsinebi th futee fgh flit mtesttt debut onononhe newhe yoc yoc y y ge. 've goteehehe c ccalticatiti spaeaceac aing ito ddmutemu arereeady tdy cli

aboard that thinghihi r vertically and is powered by batteries. well, we will show it to you, i promise. [laughter] and spidey rescuing amc entertainment shares in his happy web. the stock is on track for its biggest one-day percentage gain since mid july as the release of the latest spider-man flick sends opening day records for theaters, at least for some metrics in hollywood. let's get to this breaking news. we are now with about 58 minutes left to trade for the week, you are looking at a live picture of radio city music hall. this is the corner of sixth avenue and 50th street in midtown manhattan where all four of today's christmas spectacular shows including one due to start in fewer than two hours have been canceled. now, normally that corner right there, which is about 50th, between 50th and 51st, would have lines snaking all the way around the block with people waiting to get in to see that

popular holiday extravaganza that's complete with rockettes and live camels, but no. all the performances that started before noon due to the breakthrough of covid cases in the production. radio city owned by madison square garden entertainment, which is not getting hurt here, it's up about 3%, is not the only venue. multiple venues in new york city dropping the curtain on soldout events. tonight's production of hamilton on broadway will not be happening. this after wednesday's and thursday -- last night's shows were forced to cancel due to one or more cast members testing positive. and in kind of a stunning move last night, audience members at the al hershfeld theater already seated and waiting for knew lin rouge -- knew loan rouge were told the show would not go on. last night in montreal, nhl game

did go on but no spectators, all empty seats. as the markets continue to absorb the fast-shifting ground due to rising covid cases, adding to the witches' brew of volatility, quadruple witching. this is the expiration of multiple options and futures contracts for both indexes and single stocks. right now volatility is way off the highs, so a little calmer moment in this final hour of trade. but investors are seeking shelter in safer government debt. the 10-year yield which was trading at about 1.38% is slightly off that floor, but at 1.407% at the moment, we still are looking at what could be a two week low for the close. we've got the entire market spectrum covered for you. joining us now, andy brenner and the $233 billion in assets under management, cio brad mcmillan. brad, i want to start with you. we've got heavy trading volume and pronounced moves.

what's got the market, in your opinion, in its grip? is it covid? prospect of higher rates? or something else? >> i think it's mainly covid at this point. the real question is we don't know, and the market's trying to process that uncertainty. we had a lot of worries, as you said, dr. fauci this morning said it's going to hit us hard, but we're not seeing that yet. i mean, what's remarkable to me is we're not seeing caseloads take off, and so the market's discounting that possibility, but it's also reflecting the fact that we don't see it yet. so i think we have got some more volatility ahead, but right now the damage is limited. liz: andy, if you look at the selloff in crude oil, it sure pushes the covid fear narrative. crude just closed i want to say $70.86 in the regular session, down about 2%. we're pretty much a little bit lower than that right now, well, just slightly higher, $70.90. but that looks like people are saying, oh, well, people aren't going to travel, they're going to kind of lock down, they're not going to use crude oil or

energy to move. how is the fed's hikes next year going to have an effect? >> something that just came up in the last hour is governor waller, who is the most interesting of all the fed speakers, said the fed may not actually raise as much next year, and they might actually use balance sheet reduction, writeoffs of mortgages and not replacing them. so the fed is going to consider that after the tape orerring ends, so we might not have three or four rate hikes next year. there's no question the fed is tightening, and that's going to slow down things. but you know what? i can't really say that's what's dominating the markets today. i think it has to be just the massive number of shorts in puts which was part of the volatility this morning as well as yesterday. and i think as we -- probably by the end of your close today i wouldn't be surprised to see the s&p possibly be flat on the day. nasdaq is certainly up 54 points

as we speak. liz: all right. s&p still down about 23 points at 4645. we've already talked about crude oil, some of the commodities, we've talked about treasuries. brafd, i want to go to equities. we've got some interesting moves to the upside, many of them meme stocks. we should still show amc because it is having an incredibly strong day. we've got amc up 23% at the moment, but gamestop is also on the move higher. where do these things go in the next year? >> i think you're going to see continued retail participation. i think the retail investors have said, you know, we want to be in here. we can move the stock market. and i think the fact that they're continuing to be able to do that even on a day where the market as a whole is down indicates they're not going to go -- [inaudible] i think meme stocks have been written off, and i think that's a mistake because i think you're going to continue to see this focused crowd source movement in

assets. this is something we're going to have to learn to live with. liz: okay. so what are you telling your clients? i would imagine -- [laughter] you've got a tried and true success story here, brad. what are you telling them to look toward? which sectors do you like in the first third of the coming year? >> i think the first thing we're seeing here, liz, is we're seeing that interest rates are supposed to go up, and interest rates are going up, but we don't actually see interest rates going up. so when you look at how the market acted, there's actually some movement towards interest rate favorable sectors, and i think real estate is a really interesting way to play that because you get the cash flow, you get the ability -- [inaudible] and i think that's important. liz: andy bern, talk to me about -- brenner, talk to me about what we're seeing when it comes to gold, above $1800 a troy ounce. had a decent sized move over the past 48 hours. what happened to this one-day equity rally post-federal

reserve announcement on wednesday? from thursday we saw big jumps, and we can show week-to-date pictures for the dow, nasdaq, s&p, russell, and then poof, it's gone, and there's too much concern now. >> liz, i think it's a lot of technical stuff. i think what happened is everyone expected, including myself, that the fed would go maximum tapering, doubling, that they would go to three rate rises if not four, and they did. and the market backed up for a total of about five minutes. and then everyone looked at each other and said, hey, we have the same position. the next day the ecb, which is comical, said that they're not going to raise rates in 2022, and they think inflation's going to be moderating. meanwhile, they doubled their inflation forecast, and if you missed today's german pbi number, it was 19.2% year-over-year. they have massive inflation. they're going to be raising rates, but the market doesn't believe that right now as we speak. liz: and let's remember the

central banks are moving and shifting their priorities to tightening. we had the ban of england with a surprise rate increase yesterday, so we're watching all of this. there are a lot of cross-currents. andy, brad, thanks for helping us wrap our arms around it, we appreciate it. have a good weekend. >> you too, liz. >> thank you of. liz: fox business alert, the auto sector brimming with news right now. general motors under pressure if after the ceo of its majority-owned cruze self-driving car subsidiary has left the company. shares pulling back by nearly 5%. no reason given for the departure. gm had hoped to start its robo-taxi service two years ago, but it's still waiting for final permits from san francisco. separately, the first five of an order of 500 electric light commercial vehicles to federal express. speaking of which, fedex having a very strong session, at the top of the s&p 500 after the

delivery firm reinstated its original fiscal 2022 forecast. we should move on from that, 2022 forecast after lowering its per-share estimate in september because it was battling higher labor costs. we've been telling you about that for the last two quarters. fedex reported better than expected earnings, up 5.6% at the moment for federal express shares, but do keep in mind they have very high labor and payment wage increases. they were, however, able to offset that with higher prices. shares of rivian, now we can look at though, hitting a -- look at those, hitting a record low. the truckmaker says it expects production to fall a few hundred vehicles short of its 2021 target of 1,200. shares at 99.07, losing that triple-digit level, down 3% -- 9% at the moment. the the company did open below

$100 a share for the first time since its market debut on november 10th. offering price, $78. rivian also said it will build a $5 billion plant in georgia. that, though, not helping the stock right now. the recent trials and transcribe police stations of pell -- tribulations of peloton, they should be their own show. they pulled an ad released earlier this week featuring sex and the city star chris noth's character, mr. big, after he was accused in the last 48 hours of sexual assault. peloton, which was swinging back at this horrible product placementing situation, that had to pull this ad saying it was unaware of the accusations against noth. the actor, of course, denies that. shares no worse for the wear, up 5.7%. the hbomax reboot showed mr. big drop dead after a peloton bike ride, peloton not doing too

poorly since the ill-fated reboot, up 9% since that release. closing arguments still going on right now in tt fraud trial of here theranos founder holmes. we're going to take you to silicon valley for an update on the so-called trial of the century, the latest details on what's happening inside the courtroom. we are live in san jose on that. meantime. , the dow down 378. we're coming right back, don't go away. ♪ ♪

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liz: we have this breaking news, the jury in the fraud trial of former theranos founder and ceo elizabeth holmes could begin deliberation within hours. holmes seen here this morning arriving at the san jose courtroom, according to reporters, sat there in the courtroom gripping her mother's hand and listening as her attorneys delivered closing arguments trying to downplay the seriousness of the 11 charges against her; namely, duping investors who poured billions of dollars into her failed blood testing start-up and putting patients at risk with corrupt testing technology that never truly worked.

kelly o'grady is outside the courtroom in san jose and has been following all of today's minute-by-minute action. what's the latest? >> reporter: yeah. you mentioned she was clutching her mother's hand, liz. i saw it with my own eyes. she had a scared face and was just gripping it. i mean, you can only imagine what's going through her mind as these closing arguments continue to wrap. now, we are hearing that the judge expects he could be reading jury instructions as early as 2 p.m. local and then handing it over for deliberations. this has been a dramatic couple of days. yesterday the prosecution wrapped up closing arguments, and the narrative was of a brazen con artist who chose, quote, fraud over failure. a big focus was on her unauthorized use of phaser's logo to -- pfizer's logo to gain credibility. the prosecution also emphasized her allegations of abuse against her former boyfriend and business partner shouldn't affect the jury's deliberation. the defense, however, is painting her as an innovator who made mistakes but genuinely

believed in her ability to change the world. keeping information quiet like using modified third party machines, not original theranos devices was actually protecting trade secrets so that competitors couldn't use the same design. now, one of the final points that the defense was just heard making is that, actually, some of the blame falls on the investors. they didn't do their research, some of them didn't even meet with her before investing and, actually, those misinterpreted statements that the military was using tech, and that's not what she was saying. now, i do want to point out that the jury instructions specifically say that a victim's negligence is not a defense against wire fraud in this case. so what this all comes down to, liz, is intent. did elizabeth holmes hatch. a plan to deceive investors and patients? if the jury says, well, she was just going along with what her romantic partner said, that's not going to be enough to convict her, so it's all going to come down to what type of person this new mom to be the jury thinks she is, and i do

think that mother she has recently become will play a potential part. liz: kelly, thank you very much. you know, also playing a part is the very esteemed board members, among them -- and we can show some of these to our viewers -- henry kissinger, former secretary of state george schultz, jim mattis. jim mattis actually testified saying that he had to hear about the fraud from the press. so this is not a good situation for elizabeth holmes. the prosecution saying, in essence, she chose fraud over a failed business. if thank you, kelly. in the meantime, before you all start to finding the virtual adidas shoes you want to wear in the metaverse, we have a warning. the metaverse, spies are already infiltrating it. but that's not the only worry. the worst cybersecurity threat in years is hitting the world. the ceo of cybersecurity firm checkpoint software is here to tell us how to protect ourselves

from the new threat and how serious it could be to businesses. closing bell ringing in 40 minutes. s&p still down 29, we've got the nasdaq up 28. think about the swing the nasdaq has endured. earlier it was down 220 points, so right now in the green. the dow, which at its lows was down 613, still down about 383. don't move, come right back. ♪ ♪ i stand by these promises: i promise to be 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. visit findyourindependentadvisor.com

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liz: 35 minutes before the closing bl rings, we want to take this moment to pause and let you know how we look to shape up for the week. with the dow down 361 points and the s&p down 24, the nasdaq up 47, we're still looking at the dow closing down five out of six weeks, and for the nasdaq, down three out of four weeks here. close down about 2.6, s&p looks to close the session and the week lower for the week down 1.5%.

these buy now, pay later stocks which have been so hot in the business press are under pressure. the cfpb on thursday asked five buy now, pay later companies for information on their business practices. this amid concerns that the financing products are putting consumers at risk. the agency issued the order to affirm holdings which is up about half a percent but still down 21% year to date, paypal, zip co. in the wake of boom in buy now, pay later services which allow consumers to split purchase payments into specific installments driven in part by online shopping growth during the coronavirus pandemic e. this, of course, right before and mt. midst of this -- in the midst of this big holiday shopping season. adidas is making its move into the metaverse, confirming it's going to provide customers exclusive access -- now, listen to this wording -- to original

products and experiences in the metaverse. okay. note to everybody, when they say exclusive products, these are pixillated products, okay? adidas is flatten on the session, but this comes after nike revealed plans to sell branded pixillatedded sneakers in its virtual world. nike's down slightly, let's call it flat. as retailers look to bet on the future of the metaverse, meta-- formerly known as facebook -- announced more than 15,000 facebook users may have been spied on by seven surveillance-for-hire companies. the news comes on the backdrop of what the department of homeland security is calling one of the biggest cybersecurity threats facing not just the nation, but the world. a vulnerability in an open source software used by major companies are from microsoft to ibm is posing a serious threat to users worldwide. one of the leading firms working against the clock to protect

consumers, checkpoint software. joining me now is the ceo. gil, let's just be clear that log 4j is what almost every site in the world uses for log-in purposes, correct? so what is the issue here in what has been breached? >> absolutely. this is one of the worst and the most widespread vulnerabilities we've seen. it's a very simple vulnerability. the hacker can simply send a string to a server, and it will trigger a malicious code which would run on the serve everybody. this code is used by over 400,000 software developers around the world which means tens of millions of servers, it's really easy to exploit. over the last week we've seen more than 4 million attempts to exploit this vulnerability, almost half of them were coming from malicious groups because some people just probe around and test. so 46% of these were known

malicious groups that were trying to break in. liz: as i understand it, gil, this is almost like the variants that we're seeing, if i could make an analogy in the covid space, and that is that each time this malicious software comes up against a wall, it then morphs, isn't that correct? so how do you even begin to patch something that keeps changing its face and exterior? >> so, first, absolutely, it does. we've seen more than 60 variants in, like, three days. first, catching this is complicated because it's many systems, but it's not -- it's very doable. you just need to change the version of the software on the server, and there are ways to protect it. many vendors have provided patches to customers. we are very proud because we have the only software, a.i.-based, that actually blocked it before it was revealed. so our intelligence agents actually identified it even when it wasn't known as a

vulnerability out there. but we are running around the clock, and i think this will take long time until all the tens of millions of servers will be patched and the hackers, mean while will try and, unfortunately, succeed to break into many places. liz: doesn't this take a very high level of sophistication? are these state-sponsored actors who are putting this together? i'm seeing all kinds of accusations that involve turkey, iran and some of these other sort of rogue nations. >> so this vulnerability by itself is relatively simple to exploit which is why i think we are thinking this is one of the worst we've ever seen. there's many, many others that a takes very sophisticated people to break in. here it's really, really is simple. the simple screen that says download with software from somewhere and, boom, the hacker will be in. we've seen the iranian macking group try -- hacking group try

to target government organization, we've seen commercial groups that are trying to cryptomining attacking businesses in five countries, so this will be exploited by everyone. liz: so if i am a jpmorgan watching right now on the monitors or cantor fitzgerald, one of the big wall street firms or any business, what should i do? what should my i.t. department be doing? >> i think it's a combination of, one, putting the best defenses or the best prevention tool inen front of -- in front of all your servers, and second is going server by server and checking it's vulnerability. and if you are with one of these organizations, you find hundreds, unfortunately, vulnerable because log4j is one of the most popular software packages used by everyone, pretty much. liz: i do have to ask about the metaverse. facebook announcing something like 50,000 facebook users have been targeted by private

surveillance companies. it makes me wonder if everybody starts jumping into this metaverse and they've got their avatars and they're having meetings in there, can't there be spies within that, and don't companies who are offering these experiences have to insure that people will remain safe within them? >> so, first, we are being spied every day by many organizations, unfortunately. and that's true to the existing facebook networks, and that's true to many, many others. by the way, it's been true for all of human history. wherever people communicated, there's been people spy being on us, unfortunately. liz: true. >> i think the same problem will be on metaverse, and, yes, i think we need to protect ourselves, we need to be sensitive to privacy. but, again, we are dealing mainly with businesses. when we're talking about consumers, about us personally, we have to realize that today's cyberspace we've pretty much lost our privacy. liz: yep, you know what? go in with eyes wide open.

gil shwed, ceo of check point software which is up about 4% on the week. considering the volatility, that's not a bad move. thank you, gil. the travel industry is among the most hardest hit during the pandemic, but you wouldn't know it looking at the airlines. we've got green on the screen on this volatile day as investors bet new covid fears may force travelers to choose domestic flights. but the disruption from a new pandemic surge isn't the only upheaval the sector faces. an all-electric aircraft takes flight on the new york stock exchange. the ceo of vertical aerospace is about to join us on his big plans for air taxis, all-electric ones. closing bell, 27 minutes away. we're increasing our losses on the dow, we're down about 453 points, and the nasdaq just turned negative, down 16.

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matching your job description. visit indeed.com/hire ♪ liz: today marks the 118th anniversary of the wright brothers' first historic flight. and since then the world of commercial aviation has gone through many upheavals, but perhaps none as massive as last year's pandemic lockdowns. since the start of the pandemic, airline stocks have not entirely recover toed. u.s. air carriers, as you can see, can't really get back to where they were pre-pandemic. and as they face more uncertainty from the omicron variant, enter vertical aerospace. this is an all-electric vertical liftoff aviation company which made its debut yesterday on the new york stock exchange via broadstone acquisitions, special purpose acquisition company reverse merger. shares up about 5% right now. vertical is the latest pie mere in aviation and help -- pioneer

in aviation. it opened yesterday at $10.75 is and is now trading at $11.28. what does the future hold? we bring in the ceo stephen fitzpatrick. you raised about $300 million, what are you going to do with the money? >> liz, it's a pleasure to be here. we've had a great day in new york. it's an honor to be on the new york stock exchange. we've been going on for about five years, maybe six years actually, and designing and really pioneering the use of zero carbon technology for aviation. and i have to say, you just mentioned 118 years on the 17th of december, the first power-controlled flight for 400 miles from new york city, the wright brothers. this is the most exciting time in aviation probably since the dawn of the jet era. we're going to electrify air travel and decarbonize air travel, and with the money that we've raised today, we're going to be investing in the next

generation of aircraft that are not just going to be taking off, but taking off from rooftops and skyports and cities all over the world. liz: well, let's talk a little bit about how this works. it can travel about 100 miles on a single battery, go about 200 miles per hour. talk about how the engineering of it allows it to work through heavily populate ared urban areas -- populated urban areas. >> yeah. one of the things you've really got to understand about this new generation of electric aircraft, when we talk about battery-powered electric propulsion, we're talking about technology that's going to be a hundred times safer than existing helicopters. liz: why? >> well, helicopters are fantastic machines, but they have so many single points of failure, so many things if one thing goes wrong, then you've got a big problem. electric propulsion with electric technology, we have multiple batteries, multiple

rotors, if we lose one of the systems, one of the components, everybody's going to land safe ofly. and so -- liz: i was going to say in a perfect world when you're up and running, i know you have an order book that's pre-ordered with about 1,350 zero-emissions aircraft, all electric, when you're ready, how long would it take to fly, let's say, i mean, you're british based, so let's say heathrow to canary wharf, which is the wall street of london, and how much would that cost? >> it's going to be about 12 minutes, it's about 30 miles. it's going to be 12 minutes and will cost probably about 50 pounds, $60. if you're going to jfk to manhattan, 8 minutes and 50. and so this is where what we're seeing with this new technology bringing battery power and electric motors into aerospace, you're going to see a massive reduction in operating costs,

you're going to see a huge increase in safety, and also the noise is something we should talk about, about a hundred times quieter than a helicopter -- liz: stephen, before we go, you're not alone. i mean, i was at ces a year ago in january, and we saw uber's uber elevate which is in conjunction with hyundai. i believe it's now been purchase by jobe aviation acquired, but there are all kinds of other air taxi plans. how are you going to go against those? >> so i wouldn't say there are so many. there are some really credible competitors. it's a really exciting space. we have partnership with american airlines, virgin atlantic, japanese airlines, we have investment from microsoft, honeywell, we are -- we're building the world's most sophisticated, most exciting ecosystem around ev, so i have to say there's going to be more than enough space for one winner. it's not a winner takes all

market. we have placed more than $5 billion of advanced orders for our aircrafts from airlines all over the world because of the sophistication and the advancement of our technology. and working with some of the world's leading aerospace providers like honeywell, microsoft and so on, it's given us a real head start. liz: stephen, we'll be watching this. i can't wait to see the first one to take off, not sure i'll be on it -- [laughter] but i'm happy to take a joyride. thank you so much. >> thank you so much. liz: all right. former sec chair jay clayton and ripple ceo brad garlinghouse locked in, of all things, a twitter battle? garlinghouse tweeting, quote: siri, play ironic by alanis morissette. charlie's going to break this little battle coming up. don't go away. ♪ ♪

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♪ liz: the exchange-traded funds universe is capitalizing during this season of giving. investors looking to do some good while potentially earning good returns are flocking to the trend of combo etfs with esg goals. etf -- yeah, etf, esg, i don't know. simplify launched its health care pink to benefit the susan g. komen foundation, another is teaming up to launch the iq healthy hearts etf, and then you've got the iq clean oceans etf in conjunction with oceana. new york life is giving a tenth of a percentage point of the annual expense fee to the corresponding charities. ripple's ceo brad

garlinghouse taking a jab at former securities and exchange commission chair jay clayton following clayton's column in the "wall street journal" detailing how cryptocurrencies should have, quote, limited regulation. and this got crazy in the twitterverse. to charlie gasparino. charlie. >> we asked brad to come on the air today, he said he couldn't -- or his pr person said he's got the flu. not covid, she said, the flu. liz: feel better, brad. >> yes, feel better. we asked jay clayton to come on the air. i have to ask jay, jay works for cnbc, essentially, a contributor. so just so you know, i mean, i understand why he can't come on our air. we asked him for a comment, they did not provide one. so why do these guys don't like each other? particularly garlinghouse does not like jay. jay's last thing, the last thing he did while sec chair in december 2020 was i sue ripple

over the sale of its xrp cryptocurrency that the sec said should have been a registered security xrp, and ripple says, no. liz: versus a currency. >> now, you know, cryptocurrencies like bitcoin, like ether, the sec has deemed them currencies or commodities. they do not have to be regulated by the sec, they don't have to go through the rigamarole of registration which is time consuming, and you have to put out quarterly reports on your underlying company. it's a big thing. so garlinghouse didn't do it. garlinghouse believes, and the ripple management, that xrp has many of the same characteristics as bitcoin which is not registered, obviously. ether, the ethereum cryptocurrency, which is not registered, and the sec has not taken action against them. they're at each other's throats. so here comes jay clayton who's basically following all the

reporting, has come under a lot of pressure from crypto people, like, who is this guy? why did he bring charges against us? one of his number twos is wrapped up in this case, bill hintman, now in private practice. he came out with a speech where he said why ether and bitcoin were not cryptocurrencies, and now he's under pressure. he's being subpoenaed in the case. i mean, he's given a deposition -- liz: what are they if they're not cryptocurrency? >> let me just make the point. so then jay comes out today is in kind of -- you know, it's kind of an odd thing for him to say, but he brought this case that cryptos should be lightly regulated, or they shouldn't be heavily regulated or else we're going to stifle innovation. i'm kind of giving you this. liz: okay. >> then garlinghouse comes out full guns, blasting. we should put up his tweet, do we have it? let's see the tweet. there it is. read that, liz, because i can't see it. liz: siri, play ironic by alanis

morissette and then, of course, it links to the op-ed. >> do you kw this song? ♪ isn't it ironic. >> and what does that mean? liz: light regulation and yet he may have been the one -- >> screw over ripple. there you go. crypto friday. liz: well, likes how fox business and this show in particular -- >> we've been covering it like crazy, and we're leading the coverage of crypto because, you know, we don't take sides and, obviously, we cover both sides. and i always give jay clayton, bill hindman, ethereum, all the players -- obviously, ripple -- we give everyone a chance the comment if. liz: of course. >> gary gensler, your buddy, they can choose not to comment. [laughter] liz: gary, come on the show. i don't bite. gaspo, thank you. and by the way, charlie is my best on this week's edition of my everyone talks to liz podcast, and before you turn the

channel, you have got to hear it. he's revealing his christmas day dinner recipes -- >> by the way, we didn't get to answerer mc. it's up 20%. >> we already did it, without you. [laughter] liz: we're coming right back. don't go away. trelegy for copd. [coughing] ♪ birds flyin' high, you know how i feel. ♪

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capitol management ceo craig hodges, national management chief market strategist. we are getting another headline, three according to sources from a three national football league teams are going to suspend and postpone three games until something like after christmas. there is fear in the markets and also the fed, what you expect for next week? >> i would say this, it takes both of us, now we know for sure what the fed roadmap is for the month ahead. we have known about experience for a couple weeks and margaret have tried to calibrate which name will follow in its wake. if you look at the template the last variant, is likely going to be more of a different so i think it going to look at that, we are probably overreacting to the news on this, vaccine rates have been much better and the healthcare system seems to be able to handle this but it's

more contagious and brand-new sort natural this time of year for investors to have trepidation what you larin to a day where we always get voluntarily around expirations, the expiration date we've seen several years in terms of contracts that expire so the j date of volatility. >> defined by the heavy following, the one green space for the whole day, the nasdaq turned positive again but it's been going back and forth, small and mid caps, what are you liking about it right now and why is this the better play? >> the main reason it's been so poor the last five or seven years, it has really underperformed, even this year, it's way ahead of the averages and now the averages past and i think it's a confidence thing. a small companies in the 2000 compared to gp will earn about

three times, it's exposed about three times earnings as opposed to large companies 1.2 times so if we do get in earnings recovery, it's going to be a lot more dramatic than small stocks and that's where the opportunities are and that's what we are focused on. the other thing, this is an unusual tax year, people don't want to take anymore gains so they are looking for losses. the stock has had a bad year, it's getting hammered and i think they will relief those next week. >> as we close out the week, what strikes you about the way the markets absorbed with the federal reserve it? >> when i think about how the market absorbed it, go back a couple of weeks the cat was out of the bag and we got rid of transitory and attic taper and we knew we had a pivot and you track what happened under us,

down 5% from 52 in the average stock down about 40%, you see that with the s&p off about 4%. average stock is down 12% so a lot of correction in multiple contractions. >> we are looking to close down 48-point on this friday, the dalhousie 533, the nasdaq down 19. have a great weekend. ♪♪ >> hello, welcome to cosmo. i am larry cutler. save america, kill the bill. happy friday. over the past week, joe biden's policy agenda has completely fallen apart. inflation, cbo 5 trillion-dollar scorecard, the ppi price explosion and then the import price explosion and then state and senator joe manchin that he was simply not backing off