anti-trump really blows my mind they would allow themselves to be at the mercy of vladimir putin instead of working with america. hey, i really wanted to make sure you were still strong on crude oil, crude oil stocks have been under pressure glad to hear you are. tracy you also got the memo and talk to you again next time, merry christmas, all right liz claman, i wish i could have more better news for you but golly, i'll be glued to the last hour of trading. liz: i know, and you know, we've been getting so much news, it's almost like in drips and drabs or quite frankly in a flood, but you know, this morning we knew that davos, the world economic forum has been postponed we are getting breaking news on ces 2022 sources close to the situation telling the "clayman countdown" that as of right now the world's largest consumer technology show is still on we are about to get breaking details about attendee numbers and covid protocols before the

las vegas show. in the meantime, the omicron variant cuts the kibosh on any idea of a santa claus rally, markets tumbling as new covid cases surge 10% from just a week ago, averaging more than 130,000 new covid cases per day, after falling 1.6% or more last week, the dow, s&p, and the nasdaq are falling, the dow is the biggest laggard here as far as percentages down 1.5% or 533 point, believe it or not, it was down much further than that. our floor show traders are ready to tell us if now is the time to reconsider the opening trade or dive in. as countries around the world consider a new lockdowns and flighted restrictions ahead of the busy christmas holiday we've got one of the top travel analysts in the nation, here to tell us, whether omicron could play spoiler to christmas travel stocks. covid though cannot take down one of the nation's most popular super heros.

spiderman no way home breaking box office records over the weekend as marvel fans flock to the theaters. imax ceo rich gelfond is here in his first interview since the blockbuster numbers came out and he will tell us if the skies the limit as he waits for china to give the film a thumbs up and allow it on the screens there, and part of the wall street freakout triggered by democratic senator joe manchin who gave the thumbs down to president joe biden's $2 trillion build back better plan. we're going to get you up to the minute details, live from d.c. on the future of the bill. we got a reporter at the white house to get you that. let us begin with the breaking news even as the world economic forum announced it's postponing its january global summit sources are telling the "clayman countdown" at this hour that ces 2022 is still on for the first week in january. sources close to the situation tell me that the annual las vegas event, the world's largest

technology show, which normally draws more than 100,000 attendee s and exhibitors did receive 2,000 new attendee registrations since just this past thursday. in addition, the show announced on friday the transportation secretary pete buttigieg will speak january 6 on the future of transportation, and as of right now, because there were some questions on this , sources are telling fox business he will attend the event in person. now, of course this situation is very fluid and ultimately could change, but i am told the show will announce updated covid protocols to keep attendees safe as soon as we get more on this , we will bring it to you. we gotta get you this fox business alert, the fear trade is still on. the vix or volatility index on this monday for the bulls is down, rather up about 10% at the moment. it was much higher. in fact the high of the session for the cboe market volatility index was 27 and change we're at 23.59 but no way to slice it

here, except the fact that the omicron variant is trampoline bellingham investor sentiment. let's take a look at the dow jones industrials again low of the session was worse here we were down 699 points at the moment we're down 515, and we do have 27 members of the dow 30 trading in the red. the only names in the green right now, and this is very touch and go, walmart, merck and proctor and gamble. tech is taking harsh blows the entire session flip it over to the nasdaq down 192 points or 1.25%, peloton at the very bottom here, and the s&p selling off in this final hour to the tune of, and again, it was worse here, we're down about 60 points low of the session a loss of 89 points. on this risk-off day investors appear to be gang rushing safe havens. government treasury is the play the 10 year yield standing right now at 1.42%, that is a huge improvement from this morning and even from friday where we

closed at about i believe 1.4% which was a two week low this morning i was looking we had the 10 year at 1.387 but again, a little bit of sort of positive maybe coming into the markets in this final hour of trade. either way low rates should be good for financials but at this hour not good. we do have some of the majors in the financial world moving in the red, jpmorgan bank of america morgan stanley,citi, goldman sachs all losing here, goldman sachs down the most about 3.25%. let me backup here because the hemorrhaging began overnight in asia where multiple stock exchanges cratered. japan's 225 took the biggest hit down 2.1%, followed by hong kong 's index down just under 2%, korea and china shanghai index also getting dinged. chinese stocks specifically we've gotta show you some of these. they are really getting hurt right now, china cut its benchmark lending rate overnight for the first time since april of 2,020, it's not helping these

names, didi, all getting slammed in a sea of red though we do have buoys here in the green. moderna is higher after saying that its vaccine booster dose provides significant protection against omicron, it has flipped over into the negative but it was moving higher, certainly for the first half of the session we're down about 3.8 %, novavax on news that the european commission backed its covid-19 shot lost all of the gains, now down 5 1/3%. let us look at stay-at-home stocks, octa , chegg, chewy, clorox, all of these names are moving higher with ring central leading the charge along with chewy up 3.7%, ring central up 2.5%. the question now becomes are we opening trades now on pause for the foreseeable future and which direction should your portfolio go? let's get right to our floor show traders scott and kenny.

all right, scott, i want to start with you. which market metric are you advising investors and our viewers to look at on a macro level that gives you the best sense of what's happening and what might happen. >> well on a macro level, an active level we've been holding the 4,500 level an the s&p cash towards the last month so when we came in today and you saw the volatility we saw the futures down 50, and everyone is like what's going on with santa claus at the end of the week so if 4,500 doesn't hold, the volatility could spike and we could actually see more downside. then is this because of the omicron? it's not because of the omicron, this is because the damage has been adding up for the past few weeks, this is because the fed that's been accommodative for the past decade is now going to be a little bit of a headwind by reducing and potentially raising rates two to three times , they say three times i say two times. you see a little bit of cross- current here because of seasonality and then the lack of accommodation by the fed and the

numbers in covid are going up so people get emotional, fond wants to relive what they went through last year and i don't think that happens. i think that we're going to peak within the next two weeks and i do think that you could trade, you could buy the jets which is an airline sector for the reopen i think that we could hit a bottom there and i also think the stay-at-home stocks that have been battered and bruised that could experience a january effect disguised by covid popping up could get a nice little play like your zoom and your peloton throughout the next month. liz: okay, yeah, again, throughout the next month. i'm looking at jets right now of course this is a u.s. global jet s eft, it's down about 1%, not even at the lows of the session. kenny, much of this as bad as it looks, is off the bottom here of at least today's monday kind of mania. tell me what do you think is at work here and what metrics you are watching specifically to give you sort of some guidance. >> so you know there's a couple things going on, and our markets

are kind of mimicking exactly what happened in europe, because when we woke up this morning at 5 a.m., european markets were all down about 2%, a little better than 2% and in fact they rallied into the end of their day and some of them closed just down less than 1%, so there was a rally and we see that kind of happening in today, right? liz: germany was a disaster, kenny, down 2%. >> well germany was but look at all of the other ones all were down 2% when i got up this morning germany is the only one that still ended down 2% the others are almost less than 1% and the u.s. here, we started really weak this morning and it feels like they want to kind of take them back to scott's point, the s&p traded almost right down , kissing its intermediate term trend line which was 45.22 and it came as low as 45.31 so was right there so you want to watch those intermediate trend lines on the dow and the s&p to see if they certainly the s&p even more than the dow because it's a broader index, much more representative of what the u.s. economy is, but my

sense is a lot of that nervousness this morning was all about the fear mongering and oh, my god and i think people are now starting to recognize that om any, while it plays a part, the bigger question here is what's happening to scott's point what's happening to the fed, to inflation, to tapering, to interest rates are they coming sooner or later are they going to be bigger in terms of percentage moves like half a point versus a quarter of a point, and then how many times is that going to happen so i think that's what's playing out here and that's going to continue to play out. that being said, if those averages hold if the s&p holds it right here on the intermediate term trend line then i think it'll churn a little bit here, and it'll find it and then as we move into the new year, you have to look at some of those return names, so whether it's zoom, whether it's netflix, netflix is down 19 % zoom is down 54% i think in the new year you'll get a bounce out of some of these names. liz: all right, netflix is up about 1.5% at the moment, zoom at the moment up 1.6% guys thank

you very much, jam packed day, kenny, scott, we'll see you next time. you can not blame omicron for the entire bull market retreat, from the markets. we've got shortly after senator joe manchin told fox news sunday he could not get to a yes on president biden's build back better social infrastructure plan, goldman sachs wasted no time cutting its 2022 growth forecast for the u.s.. goldman telling clients without the west virginia democrats, there simply aren't enough votes to pass the measure and that in turn will hurt gdp in the first three-quarters of next year. is there still some type of hail mary pass that the democrats have in their play book? let's get to edward lawrence live at the white house on whether there's a chance for the bill to find a pulse, edward? reporter: yeah, liz as i heard a famous reporter once say long ago, it's slim to none and slim just left town. the social spending package there's no way to finish it or get it passed this year because two democratic senators have tested positive now for covid. they can't go to the senate floor to vote anyway.

the white house here saying that the president is committed and remains committed as ever to a spending plan but privately, we're looking at ways of getting parts of it passed next year. the press secretary jen psaki says this of senator joe manchin we will continue to press him to see if he will reverse his position yet again, to honor his prior commitment and be true to his word. now republicans are saying that they knew once they got rid of the true infrastructure out of the package, once the bipartisan infrastructure bill was separated, the larger spending package would not go forward. listen to this. >> really riddled with a lot of unnecessary spending, and at the end of the day, with the inflation that we're facing, there is no reason to be taking on new entitlement programs. the infrastructure was something that was needed. very different than starting new entitlement programs that we can't afford. reporter: now, we will not hear from the president about this today; however, he is going to speak tomorrow and he could roll in some of the social

infrastructure or some of the social spending plans that he wants to get into his address about the omicron variant, but again, today we're not expecting to hear from the president, liz? liz: okay, and we're looking live at jen psaki, the white house communications director here. press secretary, rather. she's speaking we'll be monitor ing it. edward let us know if there's any specific indications that there's some new plan here. thank you very much. edward i would also say though, you're our fed expert. how does the federal reserve change the rubric? overnight the people's bank of china cut its de facto benchmark lending rate from what, 3.85% to 3.8%. it's their one-year loan primary rate which impacts household and corporate loans and they did it to sure up the economy. our central bank announced just last week it's on the path to tighten rates early next year. our traders were just questioning whether that holds when you combine the manchin effect on build back better plus omicron what are you hearing about whether the fed considers backpedaling. reporter: this is a full pivot

by the federal reserve so i'm not hearing that there's going to be any sort of change to the pattern, what this could do, actually, is it could speed up the tapering process. they could look at this , i've heard from fed governors as well as district presidents, some that i spoke with have said that they would like to be in a position to be able to handle whichever way the economy goes and that means getting rid of the qe right away so they would like to be in a position to a, raise interest rates tond ha ellyn population if forced to or b, if omicron becomes an issue add that back in and it will have an effect on the market as well as just as opposed to just continuing that through. so if anything, i'm hearing, you know, it could speed up the process of tapering. one more point on this governor waller made a speech on last week on friday, actually, and he said that he could see the first liftoff of the rates right after the tapering stopped. that could be the may meeting or even march, that's the most aggressive i've her heard from the fed so far.

liz: march is when they are supposed to end it edward thank you very much. we've gotta tell you folks israel is adding the u.s. to its banned list, its red list. that means their citizens are banned from traveling here, as omicron spreads, but could travel stocks which were recovering now be hitting a bottom before a 2022 boom? one of the nation's top travel analysts is here to tell us if your next booking should be with your stockbroker. closing bell ringing in 45 minutes the dow, while down 546 points, off the session bottom here, we're at 34, 819 stay with us, much more ahead including imax ceo on spiderman. ♪ i see trees of green ♪ ♪ red roses too ♪ ♪ i see them bloom ♪

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liz: travel stocks taking a tumble at this hour, as the rapid increase of the omicron variant threatens the busiest travel week of the year. as of december 14, an estimated 6.4 million people were expected to travel by air from december 23 to january 2, but new restrictions overseas that we just talked about, right? it could impact those numbers, as we mentioned already, the da

vos forum is set to take place next month now postponed until the summer due to omicron concerns, and with israel banning travel to the u.s. and several other countries. anything is possible at this point, so what travel stock s should you be selling, but also, might you be buying at a huge discount. let's bring in rbc capital internet travel stock analyst brad erikson with his picks. cancellations in the next five days what are you expecting to see , what are your numbers telling you? >> yeah, thanks for having me, liz. yeah, so i think it's pretty obvious that you're getting a rash of data points particularly over the last few days that suggest cancellations are speaking. trivago which is a meta-search hotel booking engine largely out of europe called it out last week they have seen cancellation s spike 35% just since the end of november so i think it's pretty safe to say we've got a fair amount of

fundamental risk to numbers. in terms of the stocks, you know , in our universe, we cover booking, expedia, and airbnb. we have an outperform rating on bookings and we think to the degree that all three get hit, they probably all revert at some point, as we get through kind of this initial blunt impact of omicron. booking is the one we would lie height we recently upgraded to an outperform it's probably a bigger outperformer into the balance of 2022. liz: okay, so, when you look at booking and i do want to get some longer metrics here, because i think it's important to see how it has actually performed and when you see that over the past 52 weeks, it's up, i mean, barely 5% it's flat year-to-date. would you say that we're really poised for a moon shot, maybe late january? >> yeah, i think you need as i said you need to get kind of through this blunt force impact

where we start to see that second derivative, the rate of cases slowing, essentially, and that is what will open people up i think if we learned anything as we've come through several variants now, is that people love to travel and at the earliest notice where they are able to get the clearance to start making bookings again, we expect that to happen, so obviously, as we get into spring and summer, our case, a big piece of our booking case revolves around the return of cross border travel into next summer. we think they disproportionately benefit from that. liz: israel of course has banned travel to the u.s. , canada, several european countries due to high cases. they're on their fifth, i guess, their fifth round of this covid disaster and they are trying to protect their people. it's just disastrous, i'm sure. do you look at some of the names internationally. i mean the cruise stocks are all either higher or slightly higher here. carnival had good numbers out but when you're talking about some of the international

opportunities, is there something there yet or is it too cloudy? >> i think it's challenging to say, obviously. we don't cover any of the cruise stocks or the hotels necessarily. i think for us, the thing to focus on is especially as we've come through covid and seeing how people's travel tastes have sort of evolved, we know there's a few certain commonalities of what's likely to happen once fears of the new variant fade as we get into next year, right? business travel is something that we haven't really seen come back, hard to sort of bet on that. leisure travel through the summer, alternative accommodations, those sorts of things we actually think there could be a reversion towards some hotel booking through these online travel agencies in 2022 because pricing has gotten so outrageous on the vacation rental front, so we think those are the aspects we're focused on most constructively for next year. liz: brad erikson, thank you

very much, you like booking and for the moment we're just kind of holding on tightly, but things hopefully will get better in 2022. omicron has nothing on america's favorite web slinger, spiderman, no way home crushing it at the box office we've got imax ceo rich gelfond in his first interview since these blockbuster numbers came out. he's getting in front of his camera to tell us how spidey's latest flick could soon be headed for hollywood history for one key reason, even as the omicron villain threatens and one of wall street's top auto analysts takes his foot off the gas on two hot names in the ev revolution, details on that and more, straight ahead. we're coming right back, dow jones industrial down 526, still red on the screen s&p losing 60 and crypto investors we've got a turnaround they were sitting on the fence earlier during the market sell-off but bitcoin losing higher by nearly $900,

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liz: fox business alert, ev stocks under pressure at this hour after president biden 's build back better bill hit that roadblock set by senator joe manchin's admission, that he can not support the legislation. the spending bill includes increasing ev tax credits which now could be in jeopardy. in addition, guggenheim has started coverage of tesla and lucid with a flat-out neutral rating, citing long term growth and valuation concerns. the firm says it expects risk to tesla's market share as competition increases and cites supply chain issues for lucid, you've got tesla down 3.25% a minute ago it looked like it was about to go below 900 a share, lucid down about 4.8%. we should look at general motors

it is also losing changer as us extending the production halt at the chevy bolt ev plant in michigan through the end of february now. the auto maker had recalled the bolt to replace battery modules after a series of fires. separately, according to an auto industry report, gm has just made this announcement today. it's going to, well it's not an announcement yet sorry it's a report. it may unveil an anonymous cadillac, autonomous cadillac along with chevy silverado ev at ces 2022 atlas vegas in january which we have reported as of now is still on for an in- person show. oracle has now confirmed its biggest deal ever. the software giant buying electronic medical records company cerner for more than $28 billion, it's valued at $95 a share right now it's below that at $90.5 # and could help oracle with its pivot toward the cloud. oracle is down 4.8%, cerner had

a huge down friday is up another 1%. and bank of montreal is buying b np paribas u.s. unit. bank of the west for 16.3 billion, the deal will allow the canadian bank to double its footprint in the u.s. , while allowing bnp to focus on its banking business in europe. bank of montreal down 2.6%, bnp up 2%. spiderman star tom holland getting the red carpet treatment as marvel's latest super hero kicks the old box office records out of the tinsel town party. imax ceo rich gelfond is here next in the first interview since the blockbuster weekend numbers came out why one key market could send spidey's success even further out into the stratosphere, closing bell 29 minutes away we're coming right back on imax and spidey.

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liz: well, we know for sure the box office was immune to omicron alarms as spiderman no way home slung its way to a record breaking weekend. the super hero flick scooping up $600.8 million in its global debut making it the film of the year and the third best premier not of the pandemic, of all time, right behind marvel ci nematic avengers end game, the new spiderman filmed specifically for imax screens is also making imax history as it delivered $36.2 million on 834 imax screens around the world that's its sixth biggest debut and raked in just 22 million here in north america alone, but there's more. joining me now in a fox business exclusive on this day after the massive weekend, imax ceo richard gelfond. rich, what should these debut numbers say to those who have predicted that covid will eventually kill the movie

theatre experience for good? >> i think we should say to them, you are wrong. i mean, you know, there have been predictions of the demise of the movie business for the last decades and decades whether it's television or before that, maybe radio, television, dvd's, vcr's it's always the end of the movie business. now it's streaming. the latest end of the movie business. people want to go to the movies. it's a social experience, special for these global blockbusters, you want to go with your friends, you want to be the first one to see it and the numbers don't lie. as you said in your intro, liz, it was the third-best ever, not pandemic ever, ever. shang-ch i'm opened labor day weekend, best results ever, so i think people living in an alternative universe when they are questioning the numbers , but people want to go back to the movies, no matter what others narrative is.

liz: well, this specific movie was a huge experiential event. my kids saw it and he said that he went with a friend who was already seeing it for the second time and then my son said mom i want you to see it like tonight so i can talk to you about it. think us is something where people are really feeling the experience and it's worth it for them to go to the theatre but how much did the fact that sony didn't do what so many other movie companies have done and released it simultaneously to streaming and that whole drama, play into these great numbers? >> well there's no doubt if this was a hybrid release or a streaming release that these numbers wouldn't be close to where they are right now. when you look at the numbers after almost every studio abandoned an online release, they went steadily up. i mentioned shang-chi, we also had eternal, bond is knocking on the door of $800 million, i think that model just didn't

work, there was too much piracy, there wasn't the same kind of marketing effort that went into it, there was the loss of global markets. i just don't think the strategy worked, and now, starting on january 1, pretty much every studio has a theatrical window of around 45 days, around their releases, so they've been trying this narrative, a lot of the streamers for years have said the public is going to be happy watching it on television and again and again, that's just not true, not just in the u.s. but globally. liz: rich, there is one outlier here that could really send the numbers even further as we said into orbit and into the stratosphere. this movie has not yet passed through the filters of chinese sensors. will it, and when? >> so unfortunately, liz, one

of my skills is not 100% predicting what chinese censors will do, but the movie was finished very late , so i think it didn't get a chance to go through the process of the editing, went very much until the end, and in 2022, the chinese have said that it's going to be a much more normal year. in 2021, not a lot of things passed the censors, but it's partly because there was a backlog of chinese films, in china so they weren't going to let in hollywood films before chinese films had run and a lot of the u.s. films as we talked about a minute ago had online releases, which the chinese weren't giving those films thought so i'm hopeful, but again, you know, chinese new year starts the end of january, and that's when they play local content, so there's a lot of great films in the 2022 slate as

you know including three more marvel films, jurassic world, top gun, avatar, i could go on and on so i just don't know if this one will get through, but i feel pretty good, a lot of the good films will make it through. liz: okay, but you can't say, i mean, what be the holdup for a movie like spider spiderman, beyond the backlog? is there something in the content you think the chinese might not like? >> no i don't think so, not at all, liz. it's just the quotas 34 films, there's a lot of blockbusters coming out this year. i feel quite good that a lot of them are going to get in, but i don't know enough about the internal politics, the china film bureau, to know if it'll be this one or that one. that's all it is. liz: you mentioned some of the big ones that are coming up, and boy, do we have some big ones as you mentioned we've got three more marvel films but on top of that black panther and this is par of it, waconda forever, top gun

marvel cinematic rick. this thing has been postponed on what, the 38th time, when is that movie going to come out? >> you know, i felt strongly that it should have come outlast thanksgiving when it was last scheduled but paramount decided, i'm sure, after getting a lot of input to wait until this coming memorial day, and i think that's what it's going to be. i think it's kind of a limit to how many times you could push it i was fortunate enough to have seen the movie several months ago and it's one of my top picks it's amazing in certain respects it's better than the original top gun with drones and the way it was filmed and the story, it's fantastic so that's one i'm really hoping for that it comes out, and i think the chance to move. liz: and i do want to quickly say that you guys came out with live events that was really interesting and this was the drake kanye west concert. we've got video of this , this

opened at about 35 imax locations, sold out in seven theaters. this was the free larry hoover concert people were really sort of attracted to this experience. do you plan for more of these things? >> we do, liz. as a matter of fact as you look at that clip what was so extraordinary about it is it didn't feel like you were watching a consolidate the on a screen because of the immersive ness of imax and a sound the and it seemed like you were at a concert and a couple people we talked to in the music business said that i had the best seat in the house and at our live concert you're watching the screen a lot of the time anyway. so the people really went crazy, we've had so many inquiries since this just ran, and you said we sold out in several locations. we did it in one day while it was live streaming on amazon at the same time, so i'm very encouraged about it. we'll try some more and see where it goes. liz: [laughter] looking at people jumping up and

down in the seats having a great time. >> it's awesome. i think spiderman and that in one week i'm really psyched. we just have to get through some of the virus issues right now. liz: yeah, i know. any discussion at all of any theatre closures here? i know in denmark, they closed some of the theaters, that of course is a situation yes or no , what do you think? >> you know, i doubt there are going to be massive closures in north america. i think it's more there might be selective closures for short periods of time and i think the american people and even the government is kind of beyond that unless this goes to another realm which hopefully it won't. liz: okay. i look forward to boogying at one of the imax concerts, rich. hopefully the eagles is more my level thanks so much. we'll see you next time.

congratulations on the great spiderman number, rich gelfond of imax. from the oil patch to the offshore rigs, it is a crude day for black gold. fox energy and business expert phil flynn here next live on why rising omicron cases have investors worried fuel demand will go down in flames. (vo) the more we do with our phones, the more network quality and reliability matter. and only verizon has been the most awarded for network quality 27 times in a row. that means the best experience with calls, texts and data usage of any major carrier, according to customers. there's only one best network. the only one ranked #1 in reliability 16 times in a row. we are building 5g right.

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session lows at one point it was down 6.8% so let's bring in our oil expert phil flynn. phil are these price drops we're seeing just the beginning at least for the short-term considering that we've seen some real fear and then you've got lockdowns in the netherlands, people will not be driving at least in that country. reporter: well, i think we're seeing fear overtake reality at least until this point and you're absolutely right. the key over the next 24 hours is going to be whether we're going to see more lockdowns. we know from demand numbers that people are tired of block downs and starting to travel more, air traffic is pretty much back to where it was pre-covid level or at least the highest level since the covid began so people are getting out more. the question is their behavior. are they going to pullback in a dramatic way. well the market is fearful. we saw the fear index for crude oil get back up above 60% which is more than double the normal and so it's being driven a lot

by that fear, but to be honest with you, if netherlands is the only country that's going to shutdown it's like closing down rhode island for a couple of hours it won't have a big impact on global demand and then at that point we're going to see the sell-off is probably overdone. liz: yeah, it looks a little bit knee jerk certainly in the after market session we've got brent down 2.2% but it really got hammered over the weekend. talk about some opportunity here would it be the refiners, would it be the integrated oils and some of the guys who do soup-to- nuts? reporter: i think right now refiners are going to look very very good because the key is right now, the refining margins are very good right now. the price of oil has come down a bit, demand is going up so that's going to give the refiners a little bit of juice, but you know if you look at the larger issues for the energy space, if you look at where we're going to be next year and the year beyond here, this could be a long term buying opportunity, mainly

because of the countries trying to phase out fossil fuels, so you're creating a situation where you're creating shortages of supplies, maybe with good intentions, but at the end of the day, it's going to drive up the cost of doing business. now, the biden administration's already upset at the oil companies and saying hey you're making more money and it's like well, you put us in an environment where prices are going up, you've pulled back on oil production, higher prices generally mean higher prices, and we're definitely in an environment over the next few years where we should see continuing trends towards higher prices. liz: i think this is the first show in quite sometime i haven't yet used the word "inflation" because we do see a lot of this coming down, but as we show ed, oil is still up about 40 -plus percent year-to-date. phil, great to see you thank you very much. >> thank you, bye-bye. liz: from oil to electric vehicles, ev valuations, they

are a bit too rich for your portfolio. our countdown closer has a stock play she says once you get in on the sector from a side window, closing bell ringing in seven and a half minutes, the dow now down 445, we have been down 700. what is the end going to look like? stay tuned. . .

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♪. liz: closing bell. we ring this one out in four minutes. we're off the lows of the session. still down about 420 points on the dow. s&p, s&p down 51. much uglier picture when the nasdaq was down 309 points at the lows. tiny bit of a comeback off the floor. with the president making a push for green energy this year, infrastructure law with 7 1/2

billion put in for the ev industry, you are countdown closer has a play. bring in financial ceo, lorraine gilbert. we're looking at sort of a side window picture here, instead of the front door of any names like lucid, rivian or tesla. tell us which is your pick and why? >> when we look at ev we know the next 10 years there will be the rammed up. so the supply chain that goes behind the ev motor industry will be significant, specifically of course we have got automation that is a possibility. companies like rockwell automation have work flow software as well as cyber security, a total market potential of 90 billion and they represent about 6 to 7 billion a year is one of the reasons we're looking at automation.

liz: what specifically does rockwell do? we cover them specifically on the show. the ceo has come on the show many times. specifically for the ev industry, can you give viewers a sense how they have a head start on this? >> like i said the work flow technology is certainly important as well as just can these companies speed up their manufacturing and that's one of the reasons we like it. liz: yeah. you know i went to the tesla factory in fremont. it was robotic galore. that was, i don't know, 2015, way before a lot of companies were doing that. lorraine, talk about the other name you like, and it is lennar. housing market has done a gangbuster business in 2021. why the name in particular? >> when we look what is going on in housing, we have the millenials, all deciding to buy a home as well as many of the baby boomers retiring early and

moving, buying a new home. so with that, we also see that homebuilders over the last 15 years have not built enough homes. so we're sitting on a 5.4 million shortage of housing. so with that, companies like lennar who actually have a lot of cash on their balance sheet and they're well-positioned no matter what happens with housing prices. they have a 25,000 home building short lag right now, in there, that they're building and so, as supply chain, kind of works its way through, they will be able to catch up on their backlogs? liz: we have about 20 seconds left here. do you think that we see a bounce-back tomorrow in these markets which have been down for the count today? >> we to. you know, whether it is tomorrow or the next day, we've seen quite a bit of selling over maybe omicron concerns, you know, going on but, we still think that there is going to be a rally towards the end of this

year. liz: i like to hear that, we don't have too much time before the end of the year. [closing bell rings] that will do it. the closing bell ringing with a very tough session. looks like the dow closes down 430 points. the nasdaq a big percentage loser here, down 1.25%. tomorrow -- ♪♪ larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. happy monday, save america, kill the bill. i think joe manchin killed the bill yesterday on "fox news sunday." take a listen. >> i can't vote for it and i cannot vote to continue with this piece of legislation. i just can't. i have tried everything humanly possible. i can't get there. >> you're done? this is a no? >> this is a no. larry: all right, there you have