always appreciate your wisdom and expertise. it is an interesting session because i know a lot of people made big money with these high flying names, and all of a sudden it seems like the wheels are coming off. you have to make the decision. everyone's an investor when they're going up, and then they start to lose confidence when they're going down. check the fundamentals before you make any kind of major changes. am i right, liz claman? liz: oh, my gosh, yes. but the one major change you have to make is my trick for ramen, charles. you've got to put a little cayenne pepper and paprika in there. charles: now you tell me? 35 years too late! [laughter] liz: two for two in 2022, the dow trying to start the new year with two straight records. any gain for the moment would mean that record close at the moment. up 254 points for the dow, but the s&p, it too just beats any game. right now it's down if.8 -- any

gain. big tech struggling mightily. the nasdaq is down 248 points, another successful santa claus rally comes to a close, but the nasdaq is getting left behind here. how will 2022 shake out not just for stocks, but rate hikes, oil prices, shortages of the very elements needed to electrify evs? that guy, wall street legend and blackstone vice chairman byron wayne whips out his annual crystal ball of surprise predictions. he's going to give us his top ten, and is we will revisit the one he made last year about donald trump. plus, elizabeth holmes guilty but with an asterisk. we will take a deep dive into the jury's curious split decision in the former theranos ceo's fraud trial. adam lashinsky has been covering it, he was inside the courtroom for the verdict. he is here exclusively to describe that and tell us what happens next. and viva las vegas, also with an

asterisk. we are on the ground in sioux city, right now, just one day ahead of the start of ces 2022. in his first t interview -- tv interview, ceo and ces ringmaster gary shapiro are here. we've worked for years back when id had short hair, right? we'll ask him about the risk he is taking to forge ahead e and hold the greatest consumer electronics show on earth in the midst of a massive omicron outbreak. but first, it's pretty much the best present that santa claus could deliver to investors, another session of gains at least for the dow jones industrials right now on this last day of the so-called santa claus rally which runs from december 27th through today. the gains during that period have the dow on pace for the best advance in 13 years. the s&p has been up one-quarter of a percent. we are looking very slightly at a low of just about 2 points at the moment.

we'll call it flat on the session. legions of wall streeters making predictions at the start of each year, but no one's annual list is followed more closely than the man who predicted last year that the s&p 500 would trade at 4500 during the last half of '21, and that was just one of his top ten calls he gave right here last january that were quite correct. he was right when it came to his prediction. was he about donald trump's ambitions post-presidency? blackstone's vice chairman byron wayne is here with his top predictions for 2022. happy new year, byron. tbreapt to see you wednesday -- great to see you once again. you nailed the call for s&p 500. it did hint 4500, it kept climbing. what is your big unveil for equities in 2022? >> i don't think they're going to do much. liz, we've had three great years. we were up in 2019 29%, 16% in

2020 and 27% last year. i think we're going to rest for a while. so i have the market not making any progress. liz: you can't win 'em all, can you, byron? i think part of it may have to do, of course, with what's happening in the bond market and what may happen with the federal reserve. correct? i mean, right now if we look at the 10-year treasury yield -- and, folks, they move inversely to the actual price of bonds -- we're looking at a 0-year yield orb 10-year of about 1.667%. we saw a major jump yesterday in the 10-year yield of 13 basis points. i believe that's the biggest first day of trading of the year jump since, what, 2009? byron, what is the federal reserve going to do? it appears the market is predicting it will make those three rate hikes. what say you?

>> i think they'll do four. they are really concerned about inflation. they really believe that it cuts the advantage of rising wages. so i think the 10-year treasury will rise to 2.75% with four increases of the fed funds. so i'm on the bearish side of the bond market. liz: bearish side of the bond market with a much higher yield. that's pretty stun ising. again, we stand at 1.666 at the moment, so we'll be watching that prediction -- >> yeah, i have -- liz: go ahead. >> i have it up, i have yields up a full percentage point from here. liz: wow. okay. 2.67. we hall here -- we shall see. the federal reserve, along with the securities and exchange commission, have hardly given a full-throated support or endorsement of cryptocurrencies.

you know, some people have used cryptocurrencies as the hedge against inflation which is smack us all in the face at the moment. does that hold? do you believe that cryptos will remain on a that jekyll trajectory that puts it in that sort of position of this is your inflation sort of mediator? >> well, you know, i'm not a big cryptocurrency fan. i do think gold will do well this year. i think that'll be a change. gold has not performed in previous years, and i think this is a year that people will focus on it. the volatility of cryptocurrencies is discouragementinging, i think, some people -- discouraging who want to put part of their assets in something that has real value but isn't so volatile. liz: do you have a call for gold? we're just at -- >> yeah, i think gold can be up, yeah, i thi ink gol coud bldpp

20 % y y z: igntnt jump. t annatierti ronegaleg thatouldld avo a t ahi t t t y the t t tingmeingts e goarg toinavein aeeou timimee e it. ey'rth nth n n in g iat gre g gs th'rthethostl mostly my ofm avoreor difficuiflty.ify.l picy. ar toelelons]io ad a.. was woi to t the fact that even in some of the emerging markets and especially here in the developed world and in the united states, it feels like the year that electric vehicles go mainstream. you have made a prediction about that, and it's not specifically that they won't go mainstream, it's more of what could trip up the ev revolution. what is that? >> what could trip it up is it

needs lithium, nickel, cobalt, a number of rare earths that are hard to find, hard to mine and and only in a few places. so you can manufacture the cars, but it you can't get the raw material components that are necessary to get them running, you could be in trouble. so i think there might be a limitation imposed by the unavailability of these rare earths. liz: yeah. we've got that one rare earth company here in the u.s., mp materials, and general motors has struck that deal, and gm's mary barra is going to be on this show tomorrow live as she unveils the all-electric silverado. we've got to watch for what she says about that, plus toyota has just overtaken general motors as the biggest seller of cars. i do have to finish out with your last of your surprise

predictions. you said that former president donald trump would start a television network. you were right with half of that. he is starting a social network. but you also predicted that he would jump into the presidential ring once again for 2024. are you still standing by that in -- by that? >> well, you know, i'm staying clear of politics this year. but it certainly looks like he's focusing on a run. liz: it's great to have you with, and thank you so much. i wish you had said that inflation would go away. you're not saying that, right, byron? >> no. inflation is going to -- is with us. i think covid is going to be with us, and we're going to have to continue to get booster shots, and i think inflation's with us for the rest of the year. liz: well, we need to learn to live with it, and that's what we are doing here in las vegas one day before the consumer electronics show. a big test for international conventions.

ces is the first, and you have said we will return to normal, to events like that, this year. byron, thank you so much for joining us. be well. byron wien of blackstone. and, by the way, we are putting up all ten predictions on my facebook page, facebook.com/lizclaman. see you next time, byron, thank you. >> always great to be with you, liz. liz: we've got this breaking news. president joe biden meeting with his covid response team at the white house just moments ago. the president said the omicron outbreak is worrisome but, again, he stressed that having -- that vaccinations are limiting the worst effects. the president calling it a pandemic of the unvaccinated. he's claiming there's, quote, no excuse for the 35 million americans who remain without a covid shot. let's get right to edward lawrence who's joining us live from the white house with the highlights. >> reporter: liz, you said it, the prime minister's pushing vaccines -- the president's pushing vaccines, mask mandates,

booster shots. you heard how federal resources are being spread out, how military members are helping hospitals in hot spot areas to deal with the surge in omicron. you also heard how those vaccinated and boosted are still getting the virus, but they have mild symptoms. so all the mandates for the vaccines and masks have not stopped the spread of the virus, and this is where testing comes in. the president saying that you should actually go google and find where you could find a state free testing kit. he says eventually the principal government will have theirs available. listen. >> i know this remains frustrating. believe me, it's frustrating to me. but we're making improvements. in the last two weeks, we've stood up federal testing sites all over the country. we're adding more each and every day. >> reporter: mean tile -- meantime, he says we'll have those tests by some point this month. this is part of the plan the administration announced before christmas. republicans are wondering why it took so long to realize more

tests would be needed. we're almost three years into the pandemic, and representative bud buddy carter saying it's too little, too late. >> if he'd done it back in october, we could have been assured if we had a test whether you were negative or positive or whether you could join in with your family or not. but instead, he waited -- went ahead and made the announcement just recently, and to my knowledge, he still hasn't signed the contract yet. and when these tests get ready in february, that's going to be too late. >> reporter: so of all of this, the windfall could come for the companies that make those rapid tests. in all $73 billion with a b, billion dollars, has been allocated for testing and various phases of it. those companies could see the benefit of that vernallingly when it comes out -- eventually. liz? liz: i just want you to know i am holding up one of tens of thousands of tests that ces is passing out to all attendees. there are two per box.

they are making sure everybody's got a couple of these. there's on-site testing. we've got to ask gary shapiro who's coming up in his first interview ahead of ces how he managed to -- >> reporter: liz, they were preparedded. they were preparedded, and the white house is behind the curve on this. liz: a lot behind the curve. that's what people on both sides of the aisle believe. they may not say it, but they believe it. thank you, edward. the verdict is in and confusing. theranos founder elizabeth holmes guilty on some of the fraud charges levied against her. reporter adam lashinsky has been following the case since its start. yeah, that was me going upside down at ces a couple of years ago in the samsung virtual reality event. [laughter] back to theranos. adam lashinsky witnessed the big moment. he's going to describe what happened before and after, plus what he thinks the jury got right and what they got wrong. with the closing bell ringing in 47 minutes, "the claman

countdown" is coming right back. the dow is up 271, the nasdaq down 222, but it had been lower by 320, so we're up off the floor for big tech. we're coming right back. ♪ ♪ you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

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liz: let the postgame trial lawyers start their engines. at this hour the legal world is scrutinizing the verdict handed down to elizabeth holmes seen leaving last night after that verdict. she's the founder of failed blood testing start-up theranos. the jury found her guilty on 4 of the 11 charges of fraud. holmes had raised more than $945 million from high profile investors including the walmart-founding walton family and the family of former education secretary betsy devos. the now-disgraced golden girl faces decades in prison with each of the four charges carrying a maximum sentence of 20 years. so will the verdict spread a chill across silicon valley? business insider columnist and fox business contributor adam lashinsky has been covering every second of this trial.

adam, let's start with the split decision verdict. guilty of defrauding investors but not on the fraud counts of defrauding patients. distill that for us. >> sure. and the famous family investor names that you just mentioned, those were specifically the investors that she was found guilty of defrauding. there was a different set of investors, smaller fry, who informed earlier on -- invested earlier on where the jury could not reach a verdict on. what the jury was effectively saying later in the game when she knew things weren't working, she lied to those big money investors, that's what she was convicted of, that's why she's going to jail. they found her not guilty on all four of the patient counts, and what i read into that is that the defense did a good job of kicking up a dust and suggesting, well, there were all these medically astute executives who were in charge of the testing who were between

elizabeth holmes and the patients, and they planted a seed of reasonable doubt in the jury's minds that she was guilty of those accusations of defrauding patients. liz: let's just remind our viewers, there were patients who used theranos and were told they were hiv positive. they were not. there were those who said they had miscarried and had not or vice versa. it's a horrific for the patients, i'm sure many of them are not happy right now. but each of the counts upon which she was found guilty carry about a 20-year sentence. i understand she could serve those concurrently or not. how much prison time does she face? >> well, i just read something from a former u.s. attorney, very credible to me, it was news to me that it could be as much as 65 years. and that it is supposed to be consecutively. now, the judge has discretion. she doesn't have a criminal or record. she does have a baby that didn't

seem to sway the jury with. it could sway the judge because he's a human being too. these are the things that everybody will be talking about. there's a hearing next week to set a sentencing date for some point in the future. liz: well, i mean, nobody seemed to care when raj rajaratnam was sentenced to insider trading. sherveed his time. i just fail to see how having a family should weigh into any kind of criminal act where somebody's found guilty. that said, we do have to ask -- she's going to appeal, obviously, right? what are her chances of overturning a federal verdict? >> well, i wrote a piece a couple months ago where i took the judge to task for the endless delays in this case. what i -- and for allowing the defense to, in particular, to drag and -- drag on and on and on. what i see now is he bent over backwards to be fair to the defense, to her lawyers. he ghei them -- he gave them

everything that they wanted in terms of making procedural motions and questioning witnesses. to this non-lawyer, i see very little opportunity for her to mount a credible appeal because of that. he went by the book. liz: really quickly, adam, silicon valley was watching this. they called it the trial of their century, certainly of -- certainly i would imagine this puts a major freeze or chill on that fake it til you make it. yeah, we'll make big promises but we'll get there eventually kind of culture. what does this do to the start-up world in the valley? >> i would say a minor chill. and if we just come back to parsing the two sets of investors, you know, if you want to literally read this case, if you make pumped-up claims to early stage investors when you haven't done anything yet, you're going to be fine. few -- if you make claims that are clearly wrong based on what's going on now, that's what she was convicted of. liz gotcha.

adam lashinsky, thank you very much. a long trial comes to an end. disney hoping the book of boba fett will bring a big bounty and change its fortunes from finishing last year among the dregs of the dow. will the first box office numbers convince investors to pile in? and with omicron keeping many at home, round two of the pet boom is on. neil gill turned his love for man's best friend into a puppy empire. he's my latest guest on the everyone talks to liz podcast. he urn turned his passion for franchising into the number one doggy daycare facility in north america. his rise from pups to playrooms packed with pampered pooches. download it from wherever you get your podcasts. closing bell is ringing in 37 minutes. we are back with more including the head of ces. first on fox business, dow jones industrials up 272. the s&p has now just turned

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liz: fox business alert, look at shares of ford hitting a more than two decade high, up more than 11% at the moment after the company announced due to massive demand, it will nearly double the production of its new all-electric f-150 lightning pickup truck to 150 units annually. and then this thursday the first group on the lightning wait list will get the choice to convert into orders. they've reopened the flood guys new potential customers. the company was forced last year to shut down the list due to an overwhelming response. well, will boba fett bring back disney this year? the stock was the worst performer on the dow in 2021, but according to tv viewership data, 1.7 million if households

tuned in to disney plus to watch the season premiere of the "star wars"-theme show, the book of boba fett. disney not getting any kind of bump from that. it was higher earlier, it is flat now, slightly lower. two stay at home stocks cowering under the covers at this hour, etsy and, yes, once again, peloton. peloton's lower by 3%, etsy down 4% as folks return to the gym and shop in physical stores. el peloton down 75% over the last 52 weeks whereas etsy is up 22% over the past year. buy now, pay hater firm affirm holdingsings sinking at this hour -- holdings, leading the way down after the u.s. announced it opened a probe into the practice of buy now, pay later which lures customers in, but often is slaps them with he was hefty fees.

affirm, which ipo'd in january of last year, is down 16% since its debut. we are just one day away from the largest consumer electronics convention in the world. but will the story be the marvelous new invention vexes that we cover every year, pushing the boundaries of tech, or will it go down as history as the super-spreader event not seen since the coronavirus pandemic began? we've got the man in charge of ces 2022. consumer technology association president gary shapiro is here live next. an award honoree for its camera robot system is in action. that's going to change the foreign labor world, i would bet. the closing bell ringing in 30

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♪ ♪ liz: okay. so i know it looks like i'm on my set in new york, but i'm actually live in las vegas gearing up for the start of ces 2022. our photographers are already on the floor. team fox business, this is a live picture courtesy of my brilliant photographer pete re gening that, and that is the floor of the west hall in the las vegas convention center. they are setting up right now. the new wing of the 4.6 million square foot facility. for those of you counting, that's like 79 football fields of space. the west hall is where "the

claman countdown" will kick off starting tomorrow. we have a huge professional footprint, a very large crew. now, you may ask, what about all those cancellations? we've got a pandemic going on. well, ces before the pandemic was the largest international electronics convention in the world with more than 4400 tech companies exhibiting their latest and greatest gadgets, some 170,000 attendees, you know, the followable lenovo laptop right there. we've showed so many different things, all of the brand new technology. while the attendance this year will be much smaller, the world will be watching. this is the first test for a return to international conventions in a post-pan dem ec world. big name cancellations though due to the only to caron fears began three weeks ago -- omicron with t-mobile backing out. he's not even doing his keynote address. amazon ring, facebook parent met

that, twitter, intel, p&g, panasonic, they all followed suit. but samsung, lg, qualcomm, abbott labs and sony are still in along with 2,200 companies setting up on the convention floor right now. make no mistake, this is my 14th ces. at least for fox business. i went once for wsyx in columbus, ohio, a million years ago. it is already a much different experience. here's a quick look at my journey, arriving yesterday. can you tell i've arrive at vegas airport? if now i'm heading to bag pickup for the consumer electronic show. so we'll see how that goes. you have to show your vaccination card and get a test. let's go. ♪ welcome to las vegas. liz: in my hot little hand i have the coveted ces badge. i had to show that i was double

vaxxed. they did not insist on seeing that i've been boosted even though i have been, and they said please understand that if you lose this, it's a $300 replacement fee. so we're not going to lose it, right, liz in -- liz? okay. no, i still have it. and and hello, vegas. ces hands every single person who's arriving two covid tests. i took one this morning, mine came back negative. i will be taking one every morning and every night. we are ready to cover this not only as a business story, but as a global news story. i want to welcome the man who made it all happen, the ces ringmaster, president and ceo gary shapiro. gary, the cancellations got all the attention. i want to hear what the latest numbers of people who are still coming are. break it right here. >> well, thanks, liz, for coming, and thanks for being in las vegas. we're so thrilled to have you. we couldn't have ces without you.

[laughter] you know, i'm pleased to share with you now the new number which is actually an expanded number. so we were saying 2200, a few weeks ago we were saying 1700, now we're over 2300 exhibitors. we've had lots of sign-ups in november and december. and why is that? because it is one place a lot of companies rely on each year to get their message out, and they really didn't have that in 2021. there's been a huge amount of investment in start-ups lately. the third quarter of '21 is compared to the third quarter of 2020, the start-up investment globally went up over 100%, and most of that, we believe, was in tech companies. so there's all these companies that want to show what they canning do and get the feedback from journalists like you, from retailers, from media, from investors, from partners, just get feedback whether a product's good or not and then readjust. and that's why ces is so important and for many reasons going forward, companies rely on

it. last night ces unveiled hundreds of start-ups and other companies, and i was overwhelmed by the number of people just thanking me saying, look, with tears in their eyes, we wait for this all year. please go forward. plus we heard from countries and companies sending people from eastern europe, asia with. korea has a record number of start-ups coming. france has a huge number, netherlands has a record, italy has a record. all of them are converging on las vegas in a reasonably safe way because that's what innovation is about. this show will be a little bit messy, we know that, but innovation is messy. liz: ces is going to be, as i said, scrutinized by health experts. the companies that pulled out from t-mobile and amazon, etc., they pulled out because they believe it will be unsafe, and that translates to they think it'll be a super-spreader event. we're journalists. i know there are a thousand

journalists coming. we run toward nuclear disasters. i ran toward a category five hurricane. this is a huge news story, but why are those companies wrong? what makes you believe that it will not be a super-spreader event? >> well, we've done everything we're supposed to do. we were the first show to say, big event saying everyone must be vaccinated. now, tell me, millions of people go to sporting events around united states every week. they're not required to be vaccinated, they're not require to be masked, and i they certainly don't test. so we're doing all three of those. we're providing the free tests, requiring the masking, and this is a vaccinated-only event, and i think that's going to be the standard in the future. we've also taken all sorts of other protocols, requiring social distancing, much, much wider aisles, one-way aisles often. so we've done everything we

possibly can do m but having said that, look, it's time to get back to normal. we've heard it from president biden, we've heard it from republicans and other democrats. we have a great showing of the biden administration coming and a record number of u.s. senators, republican and democrat, coming. it's important that business stay and continue the course and we go forward. we have to stop being -- staying in our homes and start living again. we have the tools now. this is not marthe of 2020. -- march of 2020. we have vaccines. we know they work really, really well. the risk of hospitalization or death if you're vaccinated from this is very, very minimal, and we know what's happening. we've lived with the flu all our lives, we live with cars and other things, we go to the growsly store, i feel more comfortable going to ces with only vaccinated, maainged people where i do going to my local groce arely store where there's people not wearing masks and hey

not vaccinated. liz: the metaverse is huge. if ever there was a year where people would opt to go to the metaverse and attend a show like this, who knows? they might be able to next year. but we're going to have showing things like vests which enable people to feel things in the digital world. also space technology, this is going to be the very first year of space technology. why are these two regions so important now? >> well, we're seeing a lot of new things and new categories created almost overnight, and that's what's changed in two years. it's it's been a long two years. obviously, states, we have seen tremendous developments. we'll see a space plane. it's a big part of the show. you can see it it right there. the metaverse is obviously huge, but plus we have a lot of visitors providing cleansing solutions for the covid problem, all sorts of new testing ways, doing it like a breathalyzer.

we have the automobile areas, one of the biggest boot prints we've ever had, all sorts of the ecosystem. smart homes, robotics, you name it. it's at ces in a big way, and it's covering the gamut of solve toking the world's problems and saying we need clean air, clean water, environmentally fend friendly -- more efficient. we have fewer doctors and older sick people and an older generation. liz: well, gary, we're here and we are ready. a beg fox business team on the ground right here. gary shapiro, first on fox business. great to hear there are more than 2300 exhibitors. we get things started tomorrow live from the floor of ces, the west haul, the grand new area. we're joined by general motors' ceo mary barra.

we also have billionaire founder of human far, austin russell. that's tomorrow on "the claman countdown" tomorrow, 3 p.m. eastern, only on fox business. we're coming right back. christian know amono. ♪ w project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully.

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♪ liz: new york city mayor eric adams calling on the city's big banks to keep their employees in the office, warning that a return to work if home will harm the economy and working class new yorkers. let's bring in charlie gasparino. charlie are, mayor adams is making some gut gutsy moves. is wall street listening? >> no, at least not yet. here's what we know. actually, the numbers of firms that are extending or saying

take january off or -- what they're essentially doing is advising. there are no mandates to work from home, liz, as far as i can see. it's more like if you want to come into the office, talk to your manager about it, but, you know, we recommend you stay at home through this surge. this is a surge of the omicron variant which is, you know, highly, highly transmissable. full disclosure, i just got over it, so, you know, it's out there, and, you know, and it's raging. thed good news is, liz, is that while it's more transferable, it's not as deadly. and i'm getting this from my brother who runs the icu at brooklyn hospital. there are not a lot of people in the icu ward. here's what we know as of now when i say not listening. goldman sachs has no plans to change their january 18th deadline for coming back in, and they amean -- they may even extend it. blackrock, as we first reported today, is january 28th.

they're advising work from home until january 28th. you can come in you want, but they're advise aring. bank of america, from what i understand, is telling its employees it's week to week based on guidance. so every week you're going to get guidance. likelihood, they're not back in the office. stay at home. next week, probably. again, we'll see what eric adams is going to do because this has an impact, obviously, these big bankers go to dinner, they spur the new york retail economy. it's a big thing if they're staying home. the best estimates i'm hearing from the banks themselves, liz, saw that they believe given the transmissibility, the transmission of omicron, this thing is going to burn through the month. and if we get out of the month with some sort of herd immunity, we'll be lucky. this is at least one month, and that's pretty long for something like to go on. we should point out as we

transition here, there are two stocks concern -- [laughter] people are talking a lot about them today. one is amazon and one is tesla. boast of them, from our trading sources, again, predictions from 20 202. -- 2022. i'm not getting it from tesla managers. maybe you could convince elon to come on. but both stocks are ripe p for a stock split. tesla because if you look at the historical averages and the stock spiewks the way it husband. you'll see it spiking for most of the year. amazon, because at $333, it's hard for a retail investor to buy it except for fractional shares, and a lot of people don't like that. anyway, watch those two stocks this year. liz: yeah. tesla's down about 3.8%, and amazon --

>> yeah, but you looking -- [inaudible conversations] you're looking at intraday. you should look at it from a year. the tesla chart is pretty amazing. i mean, and it's been following a pattern. that's when they do stock splits. do you have $3,000 just to blow on a single share of stock? hez les yeah, don't you? [laughter] >> we're bigtime broadcasters. we have all the money in the world. liz: i keep saying we're only cable famous. charlie, thank you. we are coming right back. it's a record right now for the s&p and the dow if we close here. stay tuned. let's watch this one break. ♪ finish finish finish

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♪. liz: 3 1/2 minutes before the closing bell rings. dow, s&p 500 looking at two straight record closes to start

the new year. nasdaq has been swooning pretty much all session down 196 but i remind you had been lower for those just joining us by 320 points. that is not nearly as bad as where it was. look at apple, part of the prop. apple touched the record 3 trillion-dollar market cap yesterday, couldn't close there. touched it at the open. not there right now. let's bring in strategic funds managing director mark lopresti. can you triangulate two days from the start of 2022, how the rest of the year is going? >> it is very hard to do, liz. first of all, happy new year. thanks for having me back. you can, as my friend charlie just said you can't look at the chart for today and past two days. you have to look at year-to-date. i love him bringing up the possibility and trader talk on a split on tesla. it just gives me another reason to be bullish on that stock. liz: yeah. the shorts have gotten crushed.

i don't know why they don't learn their lesson on tesla. you are picking up. what is behind that call? >> there are a number of things. we actually like what some of what happen apple has in store in 2022. talk of apple coming out with next ar augmented reality device in the summer. that is one of the ways apple will glide into the metaverse, that is not only cocktail talk through the holidays but one of the big themes in 2022. we think it will be the beneficiary of easing chip shortage, supply chain issues as with a lot of companies similarly situated. we might see more news on apple car. very tight-lipped on that. but that has been known to move the stock. no doubt it is pricey here, 3 trillion-dollar club, off half a percent as we're on air, but still has room to run.

liz: what are you avoiding? give me a name and why. in rising rate environment and rotation into cyclicals, consumer goods into value stocks we tend to look at the same story of things that are impacted by rising rates, negatively impacted by rising rates, keeping close eye on things like rocket companies, rocket mortgage, somewhat controversial acquisition of true bill in december. the stock reacting negatively down six on that day. companies involved in mortgage refinancing. we're looking with a careful eye on stocks like zillow. typical stocks that react poorly in a rising rate environment which of course we know based on chairman powell's comments from the fomc in late december we'll see at least three rate hikes in 2022. liz: in fact byron wien the blackstone was on at the top of the show, he says, four, four rate hikes.

mr. lopresti, thanks very much. great to see you and happy new year. folks, as we bump up for the closing bell look like a dow and a record for the s&p. we're live in las vegas tomorrow. [closing bell rings] are we taking a risk? yes we at fox business journalists are looking at reaction in the convention world in the covid future. we're coming back tomorrow. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. so the biggest news i've seen today which hasn't gotten nearly the attention it deserves when senator joe manchin told a fox news reporter he has had no conversations with the biden administration since his last interview with fox news. take a listen. >> there have been no conversations after i made my statement. i think it is basically, i was very clear. i feel as strongly today as i