and consumer staples have been the other area. and the other area i'm looking at carefully are things that are inflation-proof and that would be something like medical devices because once covid goes away, a lot of procedures that people didn't have will come back -- charles: absolutely. we've got to leave it there, michelle. you gave us a good list. in the meantime, liz claman, you get all the fun assignments. your out at ces in las vegas are. i'm in studio. what's going on here? [laughter] liz: well, fun? we could call it that. it's also historic what with the omicron pandemic right now. this is just as much a news story as it is a business story, charles. let me set the scene. we are high above the las vegas convention center on day one of ces 2022. ringmaster gary shapiro of the consumer technology association told us yesterday now more than 2300 exhibitors from 160

countries are on hand this year, descending on vegas even as some of the nation's biggest tech giants from intel to amazon pulled out of the four-day convention due to conventions over the omicron outbreak. but team fox business is here to cover the historic moment. our cameras were at the front doors of the convention center as they swung open to throngs -- albeit thinner than in the past -- samsung, lg, boston dynamics, small tech start-ups, venture capitalists. traditionally, the largest consumer he can tronics show in the world -- electronics show in the world. anybody who is exhibiting must be vaccinated and masked. investors in the markets are watching closely. already within the last 24 hours companies have unveiled ground breaking technology you could soon be using or investing in. samsung releasing its qd-tv,

quantam dot, that's a hot ticket. but ces is the place where since 1967 the vcr, the tv, high-def television and drones were first unleashed on the consumer world. this year's major focus, the future of cars. electric vehicles and driverless. but the metaverse also grabs major spotlight. companies trying to cash in on the virtual world. ing space technology is a new category, and 100 digital health companies are here as the coronavirus pandemic grips the world. and, of course, the -- we've got a huge lineup. general motors' ceo mary barra joining us live. she just surprised the world with perhaps an even bigger announcement. qualcomm's ceo, cristiano amon who's jumping into the metaverse

feet first is here with us, and in a fox business exclusive, the world's youngest self-made billionaire, austin russell, founder of luminar, is here ahead of friday's first-ever autonomous indy car race here in las vegas. driverless indy cars zooms around? can't wait to see that. we begin with breaking news. the dow has pulled a 180 in the last hour. the dow was on pace for three straight records but turned lower after the release of the fed minutes which showed that the fed is now considering hiking interest rates faster than it had originally thought and reducing its balance sheet more quickly. so you see the dow jones industrials down 193, the s&p adding to its losses as those minutes from the december meeting to see the inside of exactly what was said showed a much more hawkish fed. the s&p down 63 points and the nasdaq losing the most steam as higher interest rates weigh on

tech stocks. the nasdaq down nearly 400 points at its low. quite a lot a sing here, folks. we're down 419, so that is the new low of the session. look at interest rates. the 10-year treasury yield touching 1.72% so far today. that's the high itself intraday level in nine months. we will keep our eye on the market action throughout the hour. but first, as we kick off our ces coverage, the auto world and investors are rivetted by dueling headlines. one of the biggest is virtual. general motors' ceo mary barra keynoted by unveil ising the all-electric civil rad doe from detroit. -- silverado. two ore companies here at k -- ces. we've got a camera on city land dis' massive booth. they announced that it plans to go all electric, no more

internal combustion cars, by 2028, and those plans begin with the crossover concept called the chrysler air flow unveiled online. you can see from our live camera right there down on the floor, it's actually just a couple hundred yards away from where we are now. and sony, whoa, coming a long way from introducing a walkman years ago here. pulling a page from apple, breaking news this morning that it's going into the ev business. yep, the car business. what can we show you? the prototype right here on the floor of the west hall which is where i am, ces autoland. gm would have been here but chose to unveil in detroit so let's take you to detroit live where mary barra joins us live. you're fresh off your virtuality note, and everybody thought the silverado was going to be your biggest headline. you broke the news that by mid decade gm will sell personal

autonomous cars. what are they going to do, and what will they look like in. >> well, what we said is as early as mid decade, but we think there is a market for personal autonomous vehicles when you look hour along the technology is with cruise. we believe they'll be the first to have large scale vehicles. as early as middle decade we could have personal autonomous vehicles which are ready for the consumer. it puts more nodes on the network, gives us more scale, so it becomes really a momentum play for us. so we're excited about that, but we're also super excited about the silverado ev. it's doing exception exceptionally well. in fact, the limited edition rst model sold out in 12 minutes online, and orders are still control -- rolling in. we're super excited about all the vehicles. liz: we're showing it on the screen right now. let's talk about the orders.

you opened up the order book right after your key note. you say you sold out in 12 minutes. that is stunning. what does that tell you about the demand for heavy duty vehicles that are hugely popular already but all electric? >> well, i think there's going to be a huge market for trucks both light duty and heavy duty. we're super excited about the silverado ev. again, the limited edition sold out, but we want to make sure everyone understands we are still taking orders for the silverado e because we're going to have vehicles from starting at 39,9 all the way to just over $100,000 and increments in between, 50, 60, 70. so we are truly going to have a purpose-filled ev truck for every possible need that people have for trucks from an electric perspective. and, you know, leading performs across the key metrics truck owners look for along with 400-mile range. so a very significant truck, you

know, you can see all the stress versatility that the truck has,s the multi-pro tail tailgate, this is a truck for truck buyers. liz: yeah. 400 whiles on a single charge, that's -- miles on a single charge, that's good for stamping out range ang sity. it's almost like hand to hand combat in the auto world. city land disannounced that chrysler, your competitor, is going to go all ev by 2028. are you going to match that? >> well, we actually already announced that. we plan in the u.s. to have all of our light duty vehicles be ev by 2025, and we've also announced that we'll have heavy duty hydrocheck vehicles by that time. we're very excited, and when you look at not only the civil rad doe ev truck, but also the equinox, the blazer ev, the

cadillac lyric that goes on sale in a couple months, we talked about the sierra ev as well, we just have a whole host of ev vehicles that'll join both the ev, euv and the hummer that's already being delivered. when you look at that portfolio, that's why we're confident we're going to be number one in ev sales mid decade in the united states. liz: okay. but i've got to push you here. do you foresee a time when general motors will no longer make internal combustion vehicles? >> well, again, we said by 2035 all of our light duty vehicles will be, will be evs, and we're looking also where we'll be around the globe. in certain places you need to make sure that you have the right charging infrastructure. but we are leaning heavy into evs so, yes, we believe in an all-electric future, and we're the most aggressive in the united states for light duty vehicles with setting that goal of 2035. liz: okay. i've got to ask you about tesla

because you guys came out punching in saying that we're going to overtake tesla as the lead in selling these electric vehicles in the future. there almost seems to be a little bit of barb trading here. in fact, general motors last month released its icon of the all-electric hummer, and it appeared -- if i didn't know better, it looks like it was rolling right over the cyber truck made by tesla. obviously, elon musk is now responding saying, you know what? gm has,s quote, room to improve when it comes to reaching your goals. what would you say to that? >> you know, what we're focused on is understanding the customer and knowing what they want. that's what general motors has been doing for years, and that's why when you look at the equinox that we're going to have that is right in the high volume market for consumers in that $30,000-35,000 price range, what they're looking for, we're also investing a quarter of a billion

dollars to make sure that we're going to have the right charging infrastructure to really serve those customers who only buy one vehicle and putting them in a position where they can buy an electric vehicle. , gin motors has the highest -- general motors has the highest loyalty in the united states. so we're going to leverage the great loyalty in our customer base that we have. we have a tremendous footprint that we've already determined -- converted. and we'll shortly have 50% of our footprint in the u.s. and in china converted to producing electric vehicles. so we're here to take all of the momentum that we have with the relationship with customers and move them into evs and make sure we not only provide them with a great vehicle, but a great ownership experience and services and subscription models on top of that to really change the whole vehicle experience.

liz: well, that thing behind you, the silverado all-electric, is really a huge step. thank you for joining us. we've got to get in that ca lack lyric -- cadillac lyric. i want to test drive that thing, okay? thank you so much. >> i look forward to it. thanks again for the opportunity. liz: of course. mary barbara in detroit. he -- mary barra. fox business alert, the dow erased its gain earlier, and i'm talking 2 p.m. eastern time, with the release of the fed minutes. now we're down 248ing. dow notching a 400-point swing from peak to trough. the s&p down 69, the nasdaq is taking the biggest percentage hit, down 2.8. boeing, when it comes to the dow, in the between for most of the session after the u.s. air carrier allegiant air placing an order for 50 boeing 737 max gents with an -- jets with an option to pick 50 more.

turned negative just a few minutes ago. priced to order, it's worth $5.5 billion. that is a nice feather in boeing's cap. down just under half a percent. beyond meat is off its session highs after it announced that yum brands, kfc fast food chain, you ready? will offer beyond fried chicken in the u.s. i only eat the skin anyway. okay. the program will start next monday and run for a limited time. we have got beyond meat down 3.5%, yum brands down 1%. and goldman sachs calling for bitcoin 100,000. the crypto has a 20% share right now of the so-called store of market value, and goldman says if bitcoin's share goes up to 50% of that, it could then hit 100,000. bitcoin right now at 44,252, down by about 4%. qualcomm shaping up the chip p -- shaking up the chip and

metaverse world. ceo christian know amonojumping in head first? we're about to talk to the semiconductor leader about his deal with microsoft. and about the global semi short an, when is that going to be over? folks, tech is hot here at ces even as the nasdaq dog sells off but not on wall street, as you can see. down about 416 at the moment. the world is watching as the consumer electronics show 2022 in las vegas attempts to be the first large scale, indoor convention in the new covid norm. we are here and we're coming right back. fox means business. ♪ ♪ at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan

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♪ ♪ liz: welcome back to ces live. so the bar is very high, you guys, just so you know when it comes to new categories being allowed here at ce e s. one of the hottest new ones this year, the metaverse, the digital world, which cannot be accessed without semiconductors, microchips. qualcomm jumping out in front

announcing that it aims to take the lead. this morning it made a splash, look, one of the few stocks that's higher on the nasdaq, up a quarter of a percent. announcing it will partner with microsoft to create virtual reality headsets. ceo cristiano amon took the stage here at ces, that was yesterday, lifting the curtain on the qualcomm and microsoft k -- collab. qualcomm's ceo cristiano amon joins me live right here at ces. great to have you. >> very happy to be talking to you, liz. liz: glad you came here live. you're one that didn't back out. >> we're happy to be here. we had a press conference yesterday. people told me, oh, there's going to be 5 people in the room, but we actually had over 250 people came to the press conference. it's good to see people. liz: yeah. it's a must vaccinate, much wear

masks. when we're doing interviews, we can speak without our masks. let's talk about the microsoft deal. oculus has been out there, other headsets that are well established. >> look, we started talking about the metaverse when it wasn't popular. we've been investing for over a decade, and it's no surprise that i think qualcomm became the platform of choice to connect physical and digital worlds. for example, with the partnership with meta, you know, so successful that they changed their company name and what we're doing with them, and there's no surprise that we're going to do the same thing with microsoft. microsoft has been very successful introducing augmented reality, and when we announced at the show we're doing a custom snapdragon chip with microsoft integrating microsoft mesh softer to our snapdragon, and that is going to provide scale for augmented reality. we know that humans wear glasses

like this. it's going to be difficult to wear something big. what we like about audiocassettemented reality -- augmented reality, scale is going to be even bigger. you have the ability to get information from your digital to the cloud and superimposed into your reality. and we're excited to get it to scale with microsoft. liz: well, you know, their competitors out there, nvidia, mega-chip companies as well, how are you going to talk that lead and own the metaverse? >> what we do is fit devices. the devices need to have high performance, very small -- [inaudible] if you look at our heritage, we come from the phone space. if you look at your smartphone, your battery has to last the whole day. you cannot get hot, you cannot have a fan on this. that's going to be gases that you're going -- glasses that you're going to wear.

we're the only company doing the quites. devices. companies like nvidia are going to do very well cloud profession, but what will text you as a person will be a qualcomm-powered device. liz: you just mentioned digital twins, they're going to be avatars. it just sounds so futuristic. but guess what? just as you are working on even smaller glasses and headsets, there's a company here called light field lab, and they're making holograms that will appear with no headset. they will be available to see with the naked eye, if you guys can imagine that. are you part of that? or are you going to catch up there? >> so there's a lot, there's a lot of -- [inaudible] right now. people are building digital twins in the cloud. and i think we're in a very unique position. anybody today that has a virtual reality of or an augmented reality is designed with

qualcomm. but the important thing is this will manifest itself in so many different ways. the fact is we connect everybody to the cloud with 5g, there will be digital twins of all of us and our things. and the ability to connect, you can see applications in how you think about the corporate world and how we think about interacting with each other. we saw during the pandemic we're doing video telephony now, it's not that difficult can i render right in front of my eyes the other person? liz: it is wonderful to see you, and you're just as interesting as the blue iguana/again ecothat we were just showing in the hologram available to see with the naked eye. qualcomm in the lead when it comes to the metaverse. please come back on "the claman countdown." >> great to see you. liz: qualcomm's not the only company that said we're in it to

win it at ces in person. they're also not the only ones focused on the metaverse. up next, the company that's getting your blood pumping and hopes to make inroads in the virtual workout road. kelly o'grady is also live on the floor. i told you, fox business has a massive team preference here at c sexer s. she's going -- ces. we're live in las vegas at ces 2022. closing bell ringing in 37 minutes. dow jones industrials down 264, the nasdaq down 450. we're coming right back. ♪ ♪

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♪ liz: welcome back. we are now down on the floor. again, i want to remind our viewers. you have to wear a mask on the floor, but journalists are allowed during their hit to take

off their masks. we're at garmin. garmin, of course, is the gps. they've unveiled a huge number of smart watches, solar smart watches, all kinds of ones that are speaker, microphone, touch screen display, sleep tracking, exercise track. this is a stock that's up about 1.6% over the -- 12.6% over the past 52 weeks. trying to take on apple here. that apple watch is, obviously, a huge seller. in fact, i'm wearing one right now. [laughter] okay. fitness stocks are all pulling a ligament at this hour. we're talking about peloton, planet fitness, they are tumbling as they face a reopened world. planet fitness, obviously, is a brick and mortar chain, but you're looking at these companies where people are deciding how they're going to work out in the future. we just talked about the metaverse, and it is already moving to the fitness world. kelly o'grady is just up the

street, up the street at the ve knee san, and she is with the co-founder of a company called light boxer. kelly, i want to see this and what you can do with virtual workouts. >> reporter: well, i've got my boxing gloves on. i'm going to show you in a little bit, liz. but first, i mean, there's been such a focus on fitness apps with quarantine and being able to work out from anywhere, and this company is doing just that. i want to bring in the ceo with, jeff. tell me -- there's peloton, beach body, what is different about this vr workout? how am i going to be more engaged and actually make me do it? >> we're using gameification mechanics to make you want to do a workout and form healthy habits. the vr space is all about connecting other users but also providing accessibility of the actual programming. so you might not have the space for hardware in your home, but vr -- [inaudible] >> reporter: how much would this cost me?

>> the subscription is $28.99 -- 18.99 a month, a seven-day free trial. we have a wall and the stand mount, and so the wall mount is 12.95 and the stand is 14.95. >> reporter: that's pretty good compared to my $30 soul cycle class. can i actually work out with a trainer? >> oh, yeah. so the trainer's actually in the space with you. you see them in the gym, and they feel like they're right there in the room. you're punching, we're tracking your metrics, and the trainer is coaching you the whole way. we have music punch tracks where you can just punch the beat. you can punch to "peaches" and send me a challenge. >> reporter: and the metaverse, what do you see fitness in the metaverse looking like? >> i see it really connecting people on another level. with gyms, what they have about home fitness right now is that there's people there, and they're motivating. the metaverse is going to tie

people together better, and we get more metrics and better data, so it's way more accessible for folks. >> reporter: well, liz, you know, i think this is going to be something really cool. i personally am going to -- you should probably come over. i am going to try this guy out. you just punch off, right? you get a great workout. come on over, liz. [laughter] liz: okay. you come on over here. you know, we're making our way over to luminar. luminar, of course, is a light-emitting and dedetection radar, right? the great debate in the autonomous driving world. elon musk says he doesn't need lie daughter, the radar system that enables autonomous driverring, but he has a gusty challenger. austin russell wants to prove lasers are the key. they've got a deal with volvo. he's going to use indycars here at ces to prove it. he's live with us next in a fox business exclusive.

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what is a better option for autonomous vehicles and driving. the ceo and founder, austin russell, is here with us now in a fox business exclusive. again, i i want to remind our viewers we have been given the green light to take off our maxes during interviews here on the floor. great to see you. >> great to see you! lawz. liz: because we are all vaxxed. tell me about this and why our viewers immediate to care. >> this is what we're launching, it's called blade. we showed off a concept of it last year, and now we've turned it into reality and into a real product here. we can see that, basically a360 implement of a few different luminar lidar sensors. it's actually going into you can see on a sol slow vehicle that's also being launched alongside this. all the future of volvos which for the electric vehicles and the flagship they're launching, it's going to have luminar

standard. liz: are you going to tell me i'm not going to be driving anymore in i'm from l.a., we love to drive. >> especially in stop and go traffic. [laughter] no, no, there's two aspects of it. one is about safety from a fundamental standpoint, and the two is about enabling autonomy on highways. the overall goal and what we're doing is not about replacing the driver, it's about enhancing the driver. it's about superhuman-like capabilities, building the uncrash bl car. so it'll take over the steering wheel went when it senses that you're going to get into an imminent collision. and that's something that has an opportunity to save the 1.3 million lives that are lost on the road every year. liz: you have the deal with volvo. last we talk thed you were working with some airlines as well. there will soon be, maybe, autonomous airlines? but tell me about the other car

companies you're working and dealing with now. >> yep, yep. volvo has been leading the charge by actually not only making this an option, but as a fundamental standard safety issue. they believe you don't pay for your airbags or seat belts or the upgrade option, this should be no different. when it comes to other automakers, we're also working with daimler trucks on the trucking side, a number of companies. pollstar and some of the details there, they're kind of a new ev company, and a host of other different ones and some system-level partnerships as well. nviai -- invidia just announced their partnership with us, so we're really taking the whole industry by storm. liz: i know i always ask you this, but what is the latest in this battle with tesla and elon musk? he, up until recently, has said he is not a believer in lidar. he likes his own camera systems

that he's developing. what do you say to this, and have you met with elon? i'm pushing you here. break some news. >> yeah, exactly. great question. when it comes down to it, the key thing is all about what you want to do. a camera system is great if you want an assisted system. if you want next-level autonomous and safety capabilities, this is where this is required. if you want to see for yourself, we literally have a bunch of comparison videos just for some of the most basic safety cases. a pedestrian, a crash dummy right in front of the car, including a modern tesla and everything, we have one -- liz: oh, that's interesting. >> so that's the thing. and if you use a luminar-equipped car, it has the detection confidence to come to a complete stop, and it changes the game. it's not a matter of future promises, it's just a question of what you're going to get and the level of safety. liz: are you friends with elon? [laughter] >> i think he's been avoiding m-

liz: that's a different story. >> yeah. liz: one of the things i need to tell our viewers about, the indycar race. this is fascinating. you are going of to have an all-autonomous indy car race on friday that you guys are sponsoring. driverless, nine cars? are you kidding he? >> oh, it'll be awesome. yeah, that's all here. you have indy cars driving around the track well over 100 miles an hour, 150 miles an hour plus, no drivers at all. just to show the true performance of what you can get out of this. people are relying on our data. i think this is only going to be more and more so of the future. and it's kind of cool to see cars explode when there's no one in them as well. [laughter] hey, you've got some action. >> liz: youngest self-made billionaire. stanford dropout. good to see you, my friend, in person. austin is, of course, the founder of luminar. all right, much more ahead. we want to let you know what

we're going tomorrow -- doing tomorrow here at ceo. blackberry's ceo, the death of the actualen hand held blackberry, they no longer work, but this company is a meme stock, of course, and autonomous tractor company john deere. wow, that is a big setup outside of the -- which is right across the street. we're going to take you to see that. and space technology, wait til you see the companies here, the very secretive company, we're going to show you what they have brought, an entire airplane craft that goes ion -- aircraft that's going into low earth orbit. we're off the lows of the session, but the nasdaq is plumbing the depths. we're coming right back live from vegas. ♪ muck

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♪ liz: yeah, we still have the market selloff. you can see the ticker, we do have a lot of red on the screen. if you're just joining us, we're live at ces 2022. but the fed at 2 p.m. eastern indicated from its recent fed meeting minutes they're going to ramp up when it comes to interest rate hikes. that's what they feel to vamp down on inflation. we were supposed to go to a different location, but we were just talking with austin of luminar about the indy car autonomous race challenge? this is what it's going to look like. you see there is no space for a driver. no space for a driver. in the indy autonomous challenge, it's going to be friday here in las vegas. at a racetrack where nine different teams, indycar teams -- [laughter] are actually going to be racing without any drivers. might they crash? who knows. we're going to show that to you

on friday. absolutely stunning. but luminar, of course, ticker symbol laser, the sponsor of this. and hay want a fast track -- they want a fast track autonomous driving and, hey, if you want a fast track, you do it with an indie car. -- indy car. shares of vaccine makers are selling off, quite significantly off their highs. let's just say their recent highs. moderna's down about 55% from its record. it was one of the big winners of 2021, and right now let's get to charlie gasparino in new york on what the traders are saying about the pandemic. and, charlie, nobody's really talking about the pan dem ec e right now here -- pandemic here. when you're not on the air, you've got to be maxed, but tell me what you're hearing. >> and it doesn't matter if you're vax ised sometimes. i contracted omicron, and i was triple vaxxed. but that's the better side of the story. the good side of the story is

even as hospitalizations are ramping up, these stocks are trading off because traders who have access to very good information about where the pandemic is going, what happened, what is happening many other places like south africa where this new variant began are pricing in the end of the pandemic to an endemic stage. when is that going to happen? can't happen soon enough, obviously, but they're talking like the next month. and you're hearing this from people inside major wall street firms, inside places like blackrock where they think by the end of this month, maybe into the first couple weeks of february, we're going to get through omicron, we're going to be basically in an endemic stage, and that's ad good thing. so that's why you're seeing those stocks falling. liz, listen, there's still a lot of tough road to go here. my brother works in the icu at brooklyn hospital. we just had to intubate somebody who was vaccinated, you know, so they had covid. this is still happening out there.

but, you know, wall street is about the future, and they've trying to -- when you see in the in the future, at least according to traders and the data analytics that the big investors are getting is that leaving the pandemic for an endemic stage in the next month. now, i want to switch gears a little bit to the meme stocks and to crypto. as you know, you just mentioned the fed is talking about expediting etc. rate increases. the first stocks are the riskiest stocks, and that's why you see a massive selloff in amc, in gamestop and crypto as well. investors in a rising interest rate environment, liz, will go to stocks with solid earnings, predictable earnings and decent balance sheets. liz: [inaudible] >> excuse me? liz? did you ask me a question? of. [laughter] liz: okay. charlie -- >> are you okay? liz: yeah. i'm so totally fine. we've got to -- look at this

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♪. liz: we are at session lows for the markets. dow, s&p and nasdaq all day has been really getting hammered at the moment. this of course, we're looking at dow, having its first loss of the year. the nasdaq in particular getting crushed. the dow on pace for its first

loss of 2022 after the federal reserve minutes showed after the most recent meeting in december that they will move faster on tapering and possibly more aggressively when it comes to interest rate hikes. that affects technology and we're here at the ces 2022 consumer electronics show. we moved over to hyundai just so you know. we're creating avatars with a company called mobus they can design their own avatars. of the metaverse is huge. kind of a cosmic crash so to speak with auto companies. that is what is called the head-go. if you go over here. mobus has the real one. hyundai involved in all of this. it is fascinating to see all of the new technology. by the way i remind you, things that are unveiled here at ces have come into the consumers homes. their hands, in their cars, year after year after year. we are here. it's a smaller crowd than

expected but let's now get to what is happening with the fed, ready to raise interest rates three types this year. of course yesterday we had buy on wean of -- byron wien of blackstone saying uh-uh, it will be three. jordan kimmel, potentially in the interest rate environment, regional banks, jordan, which names do you like the best? >> liz, great to be with you. not only let me share what is really important, regional banks are small, so it is hard to trace, but there are etfs. but the message i want to give people even in the best of all worlds, a you know, liz, 1% of companies literally make my screen. so there is value growth and momentum story here and what happened is people got over their skis, started to buy

companies with 80, 90, price to sales, forget about earnings, that just doesn't work and so the fed is not there to really bail out the speculators and you know, we're hearing about diamond hands. but when these people are on margin, i think there is some blood in the street coming. liz: okay. when you say that, because you've been in this business a long time, it gets me a little nervous. i'm hoping it is hyperbolic. talk about some names of the regionals. we were showing big financials. why regionals over meganames? >> what i think is going to happen here, i think you will see takeover activity actually. i think that the banks, a lot of these regionals trade with some nice dividends, they are a little bit you know owned. i think we'll see some activity there. so it is really not only banks, liz. i'm not against technology companies. it is not about growth at a discount. its is a matter of actually

having cash flow not just revenue growth you're buying. i'm into all different sectors. i'm not just into small regional banks. and whole thing i'm trying to say, people shouldn't be anchored to the whole highs from a couple months ago. they need to look at companies a where they're at. see where they traded two, three years ago. if you don't know the words hubris or complacency. i think they need to be looked up. i'm not calling for the end of the world here. be careful what you own. liz: got it. jordan, we have 30 seconds. the nasdaq is down 508 points. that is loss of 3/4 of a percent. we are at session lows. do you like any names? >> i don't. advance-decline line is breaking down for weeks. nasdaq if it wasn't cheap at price to sales yesterday, it is not cheap at 190 price to sales today. so be careful out there.

liz: jordan, as always, jordan kimmel. great to have you. we're closing at session lows across the board, folks. we're live at ces. [closing bell rings] record run for the markets at least in 2022 looks to be done. that does it for "the claman countdown." we'll take you tomorrow for a ride in the john deere autonomous tractor. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. i'm going to do a very short riff tonight because i want to lead lots of time the lead guest, distinguished former treasury secretary steve mnuchin, who will have plenty to say about all things related to economic policy but just a couple of quick points, first up, there seems to be a big misunderstanding in the media about the record number of americans leaving their jobs, the so-called quit rate.