crews. as soon as one hospital fills up, we can transport patients to beds elsewhere. this week we'll send dozens of ambulances to new york and maine because the covid is spreading very rapidly to help transport patients. our doctors, nurses, hospital staffs have gone above and beyond during this pandemic. the strain and stress is real. i really mean it, it's real. and we'll have their backs though. we have to let them know we have their backs. finally, we're making sure that covid-19 no longer closes businesses or schools. last week the federal court reinstated my administration's vaccination or test. vaccination or test tool for businesses with more than 100 employees. the rule requires employers with 100 or more employees to protect their workers with the requirement that they be

vaccinated or tested each week or go home. these rules are going to keep workers safe, and keeping workers safe will help keep businesses open. if people are vaccinated or tested, they are much less likely to get sick and less likely to spread it to others. customers are more likely to come in and shop because they know it's a safe environment. i novak city nation requirements -- i know vaccination requirements are unpopular for many. not unpopular for those who are anxious to get them. my administration has put them in place not to control your life, but to save your life and the lives of others. 400,000 americans died from covid this calendar year, and almost all unvaccinated. almost all were preventable. the rule is legal and effective, and it's going to save thousands of american lives. we must also keep our k-12 schools open. look, the science is clear and

overwhelming. we know how to keep our kids safe from covid-19 in schools. k-12 schools should be open. safety is increased, schools require all adults who work in the schools to get vaccinated and take the safety measure that the cdc is recommending including masking. i got congress to pass billion of dollars in school improvements, ventilation and social distancing. schools should be safer than ever from covid-19. and just friday the cdc issued a test-to-stay guideline so schools can stay open and kids can stay in class even if a classmate tests positive. covid-19 is scary, but the science is clear. children are as safe in school as they are any place assuming

the appropriate precautions have been taken, and they've already been funded. let me close with this. i know you're tired. i know you're frustrated. we all want this to be over. we're still in it. this is a critical moment. we also have more tools than we've ever had before. we're ready. we'll get through this. as we head into the holidays, we must all keep the faith. i want to sincerely thank you for your perseverance, your courage, your countless acts of kindness, love and sacrifice during these last two years. throughout our history we've been tested as a people and as a nation through war and turmoil. we've asked whether we'd be safe, whether we'd be okay. whether we'd get back to who we

are. remember, there's no challenge too big for america. i mean this from the bottom of my heart, no challenge. you've come through better and stronger because we stay together as the united states of america. that's what we have to keep doing today. we can do this together, i guarantee you. may god bless you all, may god protect our troops. and happy holidays. god love you all. thank you. [inaudible conversations] >> on testing, sir, you said we have to do better. public health officials have been saying for months you need to surge rapid tests for just this moment. is it a failure that you don't have an adequate amount of tests for everyone to be able to get one if they need one right now? >> no, it's not, because covid is spreading so rapidly. you notice it just happened almost overnight, just in the last month -- [inaudible conversations]

[laughter] >> sorry. the alarm bell went off. i don't think anybody anticipated that this was going to be as rapidly spreading as it did. and so the question is we have a lot of people who have access to tests, have their insurance pay for them, etc. but all of a sudden it was like everybody rushed to the counter. there was a big, big rush. and i knew that was coming, so what i tried to do is -- the companies and use the defense production act to get a half a billion more tests and figure out how to get them to their homes, get them on the shelves in the store. i mean, that's what it's all about. yes. [inaudible conversations] >> mr. president, what's your message to americans who are trying to get tested now and who are not able to get tested and who are wondering what took so

long to ramp up testing? >> come on, what took so long. >> i'm hearing that now from people who are trying to get tested before the holidays. >> well, what took so long is it didn't take long at all. what happened was the omicron virus spread more rapidly than anybody thought. if i had told you four weeks ago that this would spread by a day to day basis it would spread by 50%, 100%, 200%, 500%, i think you would have looked at me and said, biden, what are you drinking? but that's what it did. we don't know what's going to happen from here. there's some evidence in south africa that a lot of this started that it's dropping off quickly too. we don't know. i do know we're not going to be in a position like i said -- remember when we were having a problem with masks and gowns and the like? i said, i promise you, i got questions from some of you, why are you still paying for all these masks and gowns? why are you stockpiling this?

because we don't know. turns out we're going the need them. in the back and then -- >> [inaudible] will you reverse the travel ban now that omicron's so prevalent in the u.s.? >> i'm considering it. i'm going to talk with my team in the next couple days. look, remember why i said we put the travel ban on, is to see how much time we had before it hit here so we could begin to decide what we needed by looking at what was happening in other countries. and we're past that now. so it's something that has been raised with me by the docs, and i'll have an answer for that soon. [inaudible conversations] >> -- of keeping your word of trust? do you believe senator manchin -- [inaudible] and how do you build trust in your party -- [inaudible] >> you know, i told you before, you've heard me say this before, some people think maybe i'm not irish because i don't hold a grudge. look, i want to get things done.

i still think there's a possibility of getting build back better done. what i don't want to do is get -- and joe went on tv today. i've not watched tv, i'm told he was speaking to liberal caucus in the house and said joe biden -- [inaudible] so, look, i'm not looking for -- let me say something. you saw what happened yesterday. all the talk about how my build back better plan was going to increase inflation, cause debt. what happened? goldman sachs and others said if we don't pass build back better, we're in trouble because it's going to grow the economy. without it, we're not going to grow. and what happened? stock prices went way down. it took a real dip. if you take a look, i wasn't -- everybody thinks because i quoted 17 nobel laureates saying this is going to help inflation, think about it in terms of

you're a hard working person and you're making 60 grand if you're alone, your mom is just on her own, making 80 grand, mom and dad 90 grand like a lot of people do, and you're worried about inflation. you should be worried about it, because it's devastating people, working class and middle class folks. it really hurts. where is most of the cost mow? the cost -- now? the cost is in gasoline even though i've been able to bring it down 12 cents a gallon, and it'll come down m i believe. we talked about the cost in food prices going up, etc. but look what's in build back better. childcare. you can reduce the price 70%. that's the difference between 20 million people going back in the work force being able to go back if we pass it. we're talking about health care, insulin. we've got 200,000 kids with type i diabetes. you know what it's costing, it's

costing someone between -- [inaudible] okay? a while ago. now it's costing on average $560 -- $640 a month, up to $1,000 a month. what do you do if you're a mom and a dad working the minimum wage busting your neck, you look at your kid and you know if you don't get that vaccine for 'em -- that, excuse me, if you don't get that drug for 'em, if you don't get that, be able to take that, what happens? they maybe die. i don't want to put kid's life at stake. you strip away all the dignity from a parent looking at their child. i'm not joking about this. imagine being a parent looking at a child and you can't afford, you have no house to borrow against, you have no savings.

it's wrong. but all the things in that bill are going to reduce prices and costs for middle class and working class people. it's going to reduce their costs. what's inflation? having to pay more than the money you have because things have gone up. well, it'd bring down all those costs, costs of childcare with the childcare tax credit. i'm not supposed to be having this press conference right now. [inaudible conversations] >> mr. president, did senator manchin break his commitment to you? when you announced the framework, the white house says that all 50 senators were believed to get behind that, democratic senators. so did senator manchin break his commitment to you? >> senator manchin and i are going to get something done. thank you. [inaudible conversations] >> -- ukraine, sir.

liz: all right. well, president joe biden speaking about omicron, but that last back and forth there with one of the reporters indicated that perhaps maybe build back better is not done. that east is wishful thinking or there's more negotiation to be had with democratic senator joe manchin of west virginia who just yesterday -- actually, sunday, made it quite clear he could not get to a yes on that bill. in the meantime, yes, the president stressing concern but not panic as omicron, the highly contagious and new dominant covid strain, spreads like wildfire. look at the markets though. the bulls are spreading and running as we speak. the president rolled out his administration's new plan to fight the outbreak on the first official day of winter. it begins now. starting this week, 10,000 new vaccination sites in addition to the 80,000 already placed in the u.s. president biden making it clear that schools will remain open and that while worrisome, this

new wave is not like 2020 thanks in part, he said, to vaccinations. let's get to edward lawrence who's live at the white house with the other major parts of the president's new plan. edward. >> reporter: yeah, and important what he said at the end there, he said joe manchin and i will get something done related to build back better. the tone has changed towards senator joe manchin. the president is not targeting him anymore. instead, saying they can, work with him again. so you're seeing that change there. he was a little upset about that. now, on the come caron variant -- omicron variant, the president giving dire warnings to those unvaccinated saying it's their patriotic duty to get the vaccination. he also said there would be no more lockdowns, and the president going ahead, pushing heavy for testing. i want to show you the things he's doing. in recent days we've seen long lines at testing centers, and the issue is getting those tests in a timely manner. the plan includes increase support for hospitals should there be a surge in cases,

mobilizing a thousand military doctors, nurses and paramedics to work in hospitals. the president said the administration will be standing up new testing sites. in addition, the federal government is buying half a million -- 500 million,ish say 500 million at-home tests and will distribute them to americans at home who want them starting in january. finally, he will put pop-up booster clinics to push the vaccine and boosters. listen to the president here. >> all these people who have not been vaccinated, you have an obligation to yourselves, to your families and, quite frankly, i know i'm going to be criticized for this, to your country. get vaccinated now. it's free to you. it's convenient. i promise you, it saves lives. i honest to god believe it's your patriotic duty. >> reporter: and he went on to defend his mandate saying that he knows that they're unpopular, but they protect all americans. now, this is a big poll here.

the president well aware of the fox business polling that shows 90% of registered voters -- 70% of registered voters believe 2021 was a bad year for the country. numbers like this could have an impact on the midterm elections, certainly having an impact on the volatility in the market the last three days; two days we're down, today is now up as you know. back to you, liz. liz: thank you very much, edward lawrence. the markets adding on to gains, in fact, as president biden insisted no new lockdowns, we did start to see stocks running higher on on relief. but look at this, the dow -- and we can show you intraday -- which was up about 496 points right before the president began speaking, is now up 561. we've got nike and boeing, the two dow components, leading the way. and a day after notching its worst three-day stretch since september, the s&p 500 is really muscling up here. we do have the s&p at the moment up about, let's see, 77 points

to 4,645. and we're pretty much very close, just a point or two off the session highs right now as you see from the intraday picture. let's look at the 10-year yield, if we can. this, of course, gives us an indication of whether there's fear in the market or risk on in the market, and what do we see here? a rebound to nearly 1.5%. we're at 1.48%. look at the fangs here, the sort of darlings of the last two years, and what do we see for the fangs? tech and those big names are in the green. we've got meta platforms up 3%, apple, alphabet, all heavily into the green by more than 1% apiece. but don't forget the russell, the small and mid cap index. it's the percentage leader at this hour. the russell up 2.7% at this hour, and we stand up 59 points

to 2,199. today is the winter solstice, the shortest day of the year. while the clock is ticking and running, let's get right to the floor show, tom hayes and chris me kins who says 500 million new home tests is a, quote, woefully inadequate number for what the country needs. chris, you advise investors on how policy will affect surgeon stocks and sectors. -- certain stocks and sectors. we just got a change, give us your macro thought first. >> yeah. i think we're on, what, the fourth covid action plan from the president. only two weeks ago he announced number three, and his solution for testing was to just have insurance cover it. now we see a big change in the had administration policy. for more than a year, many experts have been urging the administration, the end of the trump administration and the biden administration, to really surge testing capacity in the united states. we saw the u.k. which has a vast

amount of tests available for individuals, they don't have the shortages we're seeing here. and yet only today does the biden administration say they're willing to make a big number, 500 million, tests available. but when you consider we have 330 million americans and that they're not going to be ready, only some of which will be ready mid january, omicron's going to be probably over in major met row areas by the end of -- metro areas by the end of january, so it may address things for future variants, but it really doesn't solve the issue right now which is you can't find a test at any pharmacy within 25 miles of where i live at least. liz: yeah. i was having trouble, and, of course, in the new jersey area right near new york city. so i get it. but, chris, let me just stick with this here from an investment standpoint. do you go with the ppe, the mask makers which right now are in the green, or do you to go with the test makers? yes, we were caught woefully

flat-footed, but i would argue that this is a fast-morphing variant and a disease here, so wouldn't you rather have an administration that does change as the news changes. >> it's great that they're making a change now. if this is a new policy where they're going to try to be similar to the u.k. where every can have access to a -- american can have access to a free test, we spent $1.9 trillion on the american rescue plan, you'd think they could come up with a few billion. liz are, you were one of the early leaders, you were highlighting the shortage of masks. it's time for the administration to say probably n95 masks to every household as well. with regard to the market impact, i think, obviously, mask names will be positive as new variants will continue to come. we've said for a long time there will be new variants that will get worse. it will potentially make

vaccines a little less effective. we knew this was coming, so the testing remains positive in the near term. this is a supplement to existing retail supply. the government gets a much better rate on these than amazon or walmart or walgreens or cvs, so companies -- [inaudible] so i think there's some upside as long as this is supplementing, not supplanting what's currently in the pipeline. liz: okay. i don't want to ignore, tom hayes, something that happened at the very end, and that was when president biden said joe manchin and i will get something done. please remember, and i logged everything right before the president began speaking, the nasdaq had been up 312, we're now up 330. everything slightly higher or more comfortably higher, and i'm wondering how much that played into it and what is it doing to the psychology of the market, do you think? >> well, i agree, liz. the key being no shutdowns, no lockdowns means there will be no

grinch this year, and santa claus may be coming to town. i think what you said about the possibility of the build back better getting rejuvenated in january is also very promising for the markets. it's be a toned-down package if it gets through, and i also think the market was looking today atom caron in south africa -- at only con. they peaked at record high cases on december 12th. however, cases are down 77.5 percent since december 12th, and i think market participants are hopeful that pattern will follow, a huge spike up and then a rollover with mild cases for the large part. and then if you look through this, today we're seeing the 10-year yield is up, the reopening trade is back on, and you're seeing a lot of industrials and travel stocks start to perform, which is very promising as well. las vegas. liz: tom, chris, great to have you both. i really, i think it's extremely importt as we watch these markets to see that after three days of selling, we do have

pretty strong moves here to the upside. crypto moving in lockstep with the stock market at this hour. bitcoin's push above 49,000 briefly today is lifting crypto stocks. if you want to check out the crypto exchange coinbase, you can see exactly what it's doing, up three full percentage points to $245.19. but whatever happened to bitcoin at $100,000 by year end? youtube superstar anthony pagliano, known for making a fortune in crypto, is here to give us his predictions for the new crypto year. it's a fox business exclusive. with the closing bell ringing in 38 minutes and the dow charging higher by 561 points, we are coming right back. don't go away. ♪ ♪ thinkorswim® by td ameritrade is more than a trading platform.

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♪ liz: in its biggest leap since early november, bitcoin briefly punched above 49,000 at around 12:35 eastern time. right now it's not too far below that, it's at 48,540, and that's a gain of about 3.7%. but the digital currency has slumped about 30% over the past five weeks after setting a record high of close to $69,000 last month. and while it has been a momentous year from becoming legal tender in el salvador to banned in china, to dodging severe u.s. regulations, one mile marker was missed. bitcoin hitting $100,000. in november of 2020, crypto superstar anthony pagliano predicted it would happen this year. his 1.3 million twitter followers saw him call what has come to pass, bitcoin going way more mainstream. here in a fox business

exclusive, anthony joins us with his 2022 crypto world predictions. happy holidays, thanks for joining us. >> absolutely. thanks so much for having me. liz: well, bitcoin 100,000 per coin did not happen. you already made that prediction, didn't come to pass. go out on a limb if you're ready and call it for 2022 or are you prepared to raise that number even higher for next year? >> well, the first thing i'll say is the year's not over yet. obviously, there's about ten days left -- [laughter] what we know is at the end of the year, bitcoin usually runs pretty significantly. last year had almost a 50% increase in price. so even if that was happen, unlikely to get to the 100d, but i wouldn't -- 100k, but i wouldn't be surprised if we consolidate sideways or there is some upwards. definitely kind of a big move would have to occur for that to happen. in terms of 2022, i think what

we're watching the is these bull markets that seems to be getting elongated here. so i expect we continue this bull market that we're in, bitcoin, obviously, was around 8500, now trading just under 50,000. i think that'll just kind of continue into q1. i think the big question a lot of people have across the industry is just how high is that roll off top. i don't think anyone knows yet, but it's what a lot of people in the industry are paying attention to, when we can get that second leg in the bull market, how high does it go. that's anyone if's guess at this point. liz: okay. so you're saying, let's just be clear, there's still a few more days left in 2021. we could see a melt-up, and you do believe it'll be six figures by next year. >> yeah, i definitely think that we will see six-figure bitcoin before the end of this bull market, so call that into q1 or

q2. the question is just how big of a number, right? i think that 100k has been a number that a lot of people have thrown around. frankly, just a nice round number. and, two, there's a lot of extrapolating what's happened in previous bull markets out to this one. now, there's this other beyond all doubt -- point my friend pete rizzo has said, if you go back to 2017, i don't think very many people that year thought we would hit $20,000, right? 10,000 was kind of the number people had targeted. that was such a big, shocking number in comparison that people ended up liquidating their bitcoin position. so i think that's what we're -- [audio difficulty] of. liz: we're talking so much about bitcoin, anthony -- oh, hold on, i just want to make sure the shot -- okay, there it goes. let's talk about sort of a runner-up to miss america. you know, ethereum has sort of

been the de facto number two, if not number one according to some big fans of ether. but you're starting to hear people talk about polka dot. deutsche telekom has bought a whole bunch of it. elon musk in his big cover story in time magazine said while he thinks bitcoin's great, he said he doesn't think it is the one that will replace the u.s. dollar, in fact, he said that would probably be better studented to dogecoin. what do you say to those issues? >> i think it's important to understand the market structure. basically, there's two different things. one is there's a monetary revolution happening, and the second is there's a technology revolution. the monetary revolution, i think, most people in the market clearly understand that bitcoin is winning so far and likely to continue to win. you are a fiat currency -- if you live in the u.s., you get paid in dollars, you save in dollars, you invest in

dollar-denominated assets. so i think bitcoin is winning there as kind of that monetary revolution winner. now, there's a technology revolution underway as well. and that's when you get into the smart contract platforms. and the challenge with those things is that that technology is not a maximallistic end state, right? you think in the legacy world we have ios and android. we have various scripting languages, database technology that people use, etc. so i think there's going to be lots of competition on performance, things like throughputs and fees, but who can actually convince people that they have the better solution. so there's a monetary revolution -- liz: do you see anybody running out front? -- [inaudible conversations] >> i think that the earlier movers, things like ethereum, obviously, have the lead today. they kind of have the first mover advantage, and the big question that people who are focused on that technology part of the revolution, they're

asking is first mover enough, or can some of these other players come up and compete on a global scale. i spend most of my time focused on the monetary revolution, but it's fascinating to watch the technology revolution play out as well. liz: got it. we've got to predict about regulation gary gensler has given a lot of bluster about regulation, but we haven't seen a stick yet. not that you want to see it, but what do you predict for 2021, 2022? we didn't get to see a spot bitcoin etf but we did get approval for bitcoin futures etfs. what do you think is going to happen with regulation and how it'll all gel together? >> yeah, i tend to think what we're watching happen here is the builders of the industry, the investors of the industry, they're trying to figure it out and so are regulator as well. part of this this is, it's moving so quickly, it's one big channel. and the second is agreement in

terms of what the regulation should be. i generally think we've got a lot of good faith actors, people trying to find out what the right solutions are. they want to encourage innovation, they want to encourage economic prosper perty in the u.s., but they also want to put some guidelines in place. i think the key piece in bitcoin, fors clearly been stated it is not a security. now what happens to everything else, we'll see in 2022, but i do think geelt some solutions over the next year. liz: anthony, it is great to see you. have a great holiday, and we'd love to see you in 2022 to see if any of this comes to pass. anthony pomply january know. we are coming right back. the dow gaining 538 points. lots of green on the screen as the bulls find their footing. ♪♪

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♪ liz: breaking news, we are just getting word of high profile cancellations at the consumer electronics show in las vegas

are. meta platforms and pinterest both announcing they will not attend in person. we also can confirm that iheart radio has canceled its party at ces, and just yesterday, of course, sources -- later confirmed by the consumer technology association which puts on ces -- told us the show is planning to go on in las vegas as scheduled for the first week in january. so far we understand that still stands, but the situation is, obviously, very fluid. you know, you've got the omicron situation spreading, and as you've just heard, the president making huge announcements, but we've just gotten this breaking news. according to reports, the national hockey league and its players union are not going to compete in the beijing olympics. the national hockey league becoming the first pro sports league to halt its entire schedule due to the spread of omicron, and now you have this news about the beijing olympics. they had come together, the players really wanted to go, and the nhl and the owners and the

players union had agreed on that, but now to olympics will be off for national hockey league players. tonight will be the last games before the league puts the schedule on ice until sunday when play is expected to resume. so what does all of this chaos do to the sports wagering sites? draftkings, newest wagering partner about two months ago, is up 8%. and bring on tuesday night football. forget monday night football, penn national gaming is catching quite a bid, charging higher right now ahead of the doubleheader tonight that stems from the nfl having been forced to alter its schedule. since december 13th, 200 players have tested positive. for now there is no league-wide pause, but penn is jumping 8%, flutter up 2%. golden nugget is up 7.5%, mgm is charging higher. so we've got some real strength in the sports betting stock universe. nike just did it, racing to

the top of the dow after it beat second quarter revenue and profit estimates. the sneaker maker saw strong demand in north america specifically for its sports shoes and apparel and says it's more confident of easing spry chain issues -- supply chain issues. stock is up 6 percent. and, by the way, in ten days you will no longer be able to buy nike at designer shoe warehouse. designer brands, this is the parent of dsw, says nike shipped the last of its products to the company in september. nike making the move to sell is its products exclusively now only at nike stores and on its own web site. dsw shares shrugging off that loss, popping higher by 7.25%. and micron technology at the very tiptop of the nasdaq 100 after a strong financial report from the memory chip maker, pumping shares higher by nearly 11% right now. the company posted a fiscal first quarter beat on profit and a strong second quarter outlook. jpmorgan hike willing its price

target to $115 a share, we're at $91.04 at the moment. micron's news meeting, including the chip equipment makers, one up 6.7%. applied materials up right now. and general mills' stock looking like soggy cereal after a quarterly profit miss. the maker of cheerios, lucky charms, pillsbury and betty crocker said the cost of raw materials, freight and labor dented its outlook. ing pulling back by 4%. will 2022 finally shift to a buyer's market, or will sellers still rule the roost? the ceo of a real estate giant is here with his outlook for the year ahead. and from boxing to fitness mogul, exponential fitness ceo

anthony geisler is my guest on everyone talks to liz. it just dropped brand new, fresh. you've got to hear his journey from buying a rundown boxing gym to building a multimillion dollar business which now includes all kinds of brands from pure bar to cycle bar, rumble gym and more. you can't miss this episode. it's available on spotify, google, apple podcasts, wherever you listen. he's so inspirational. the great american dream story. closing bell ringing in 17 minutes. the dow now up 498 points, a tiny pit of retracement here. -- bit of retracement. the s&p up 69. we are coming right back. buyers or sellers market next year? ♪ ♪ just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner.

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♪ liz: the pandemic, and this is clear, turned the u.s. housing market red, sizzling hot last year. this year as well. and nouzille low says -- now zillow says it's going to stay that way in 2022, predicting u.s. home prices will rise 11% in the next year. is zillow right? what's many store for future homeowners and the commercial real estate market in 2022. here to look into his crystal ball in a fox business exclusive, you've been watching every tick of the real estate market, mortgage origination market. ing --s what is your bet, will it continue to be a seller's market? >> thanks for having me on. from a housing perspective, i would go a little contrarian to the numbers that you cited from zillow in that i think the 13.5% median home price appreciation we've seen this year will be very hard to sustain, 11, 12%

again in 2022. weaver seeing a lot -- we're seeing a lot of consumers push back on the incredible price gains in the housing market. we're seeing a lot of demand shift over to apartments. we're renting again because of affordability issues. so my expectation is that it will stay very strong, but the pace of price appreciation is probably going to slow into the high, you know, single digits. so slightly different than zillow's forecast. on the commercial side, investors are inherent credibly hungry -- incredibly hungry for this asset class. a lot of liquidity, of course. lenders are competing to put money to work, and the amount of interest we're seeing from new capital, new investors coming into every sector of commercial real estate is at record levels. we do believe that is here to stay because of lack of alternative investments when you're looking at a 5-6% yield on average for a commercial real estate investment versus other ways that you can look at parking cash or looking to get a

safe return, compelling yields alone bring capital into the sector. we think that's sustainable in 2022. liz: well, now it's my turn to push back. [laughter] we've got an omicron variant. we know that owl of wall street is -- all of wall street is backing away from return to work. apple has put it off, so many other countries. i'm in my home studio right now. a lot of people have been sent home where i work. what makes you think that commercial real estate, office buildings, etc., are going to have such an easy time of it in 2022? >> well, to your point, the different property types are going to perform very differently and, ironically, office space is the one hit the hardest. we see a lot of investors bidding on the return of full occupancies to hotels at some point, but there is a lot more question marks regarding the future of office space because of the hybrid work model even well after the. pandemic is behind us.

so there's a lot of concern there. apartments, necessity retail like fast food restaurants, drugstores, industrial warehouses that are tied to e-commerce, are off the charts strong and demanding, creating a lot of demand. so for office space, your point is very well taken. we saw the first quarter of positive demand for space in the form of net absorption of space, basically how much more demand there is than people vacating. with the first quarter being positive in four quarters. it was a moderate 20, 30 million square feet. but now with omicron out there and a hot of uncertainty -- a lot of uncertainty, we expect that to slow back down and have fits and starts especially in urban office buildings where the pandemic has been the most impact. so the -- impactful. the future of office space does have a lot of question marks and a renewed sense of uncertainty. liz: sure. obviously, warehouses would be strong with the e-commerce boom.

okay. you ready to make a prediction about the metaverse? we know that all of this talk about virtual reality and the metaverse, are you make my -- any kind of bet to enter the other dimension, so to speak? sounds crazy to some people, but are you guys at all sniffing around in that realm? >> we are in every aspect of technology. of course, in the sense that between a.i. and the graphic improvements and inventions that are going on, the ability for investors or to see assets, to walk through markets has become profoundly stronger. and that's participant of the reason why we're -- part of the reason why we're still optimistic on the economic front and very much so on the investment demand for commercial real estate next year, because the world -- including our company -- has proven that you can do 90% of what you need to do on a virtual basis. and thank goodness the video technology has really enabled that. but i do think that hard assets

like hotels, apartments that have short-term leases where inflation is going to become much more of an issue will come into play even more because of inflation hedging going into next year. but technology is making a permanent and structural change to the way that all space is being used. i will tell you, liz, one of the most interesting statistics is that if you look at retail sales and, of course, the e-commerce boom that we're all very aware of, it's fascinating to see that on an inflation-adjusted basis in october of this year, brick and mortar, same-store sales on an inflation-adjusted bay access were up almost 14% for the year. so people are coming back in -- were, anyway, before omicron became the next variant. people want an experience, they want to have the interactions, and that'll eventually be the case once this is behind us. liz: let's, let's once this is behind us.

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♪. liz: we need to tell you this story. russia's gazprom, tightening the spigot, choking off the natural gas supply to europe over the weekend as vladmir putin plays pipeline politics with the european neighbors. brutally cold start to the northern european winter, overseas nat-gas spiking 9% and are 70% higher since september. in the u.s. we do have natural gas ticking slightly higher by about just under 1%. our countdown closer says he has one pick he believes will be a winner as winter gets colder. hennessey fund, portfolio manager, ryan kelly. give us a name, ryan. >> good to be with you, liz.

antera resources, ar. this company focusing on oil, natural gas, explore are race and production. this company is one of the largest producers of natural gas in the united states. it is driving the price of commodities right now. it is not as high as europe or asia it is certainly driving earnings for this company. we'll see almost doubling of earnings per share growth next year versus where we are right now. it is trading five times next year's earnings. we think this is a good play in the overall energy and natural gas space. liz: that's unusual to have a modestly priced stock these days. everything seems to be so rich. we have all of the news breaking regarding what president biden just announced, new administration plan. what do you expect will be happening in the retail space, certainly with the big discounters? i know you like bj's wholesale club. it is slightly down today by 1 1/2%. do you feel like the prepping

will start up once again? >> i think so. eventually we'll continue to, once we get through this, biden said it himself, he is trying to work as hard as he can to make sure we don't have government shutdowns. we don't have more restrictions. he wants people out there. so bj's will be a beneficiary as the reopening continues. also for this company, they do a lot more online now than they used to. it has been part of the retail revival we've seen in the last year. that is where the retail stores that are typically bricks and mortar have a huge online offering now. in fact i think a third of their members now use the app to shop and when they do so, their baskets, the amount they purchased, it is actually about 25, 30% more than normal. so this is a good trend for bj's. we think it is trading at a nice valuation, about 18 times next year's numbers and we think they

will continue to do better as well. liz: all right. ryan kelly, great to have you. folks, we are hitting session highs with 15 seconds left before the closing bell rings. [the closing bell rings] dow up 570 points. zap up charging up 82 points. nasdaq up 386, a gain of 2 1/2%. that will do it for "the claman countdown." see you tomorrow. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. save america, kill the bill. the bills dead and now the blame game is on inside of the democratic party but it is not really fair to call it a blame fame because all they're doing is attacking joe manchin. last sunday after senator manchin announced his no vote on fox news, madam psaki quickly responded. she wasn't generous, no you know, let's talk about it in the new year. she just ripped into