out of it. liz claman. liz, we may actually have a strong final hour of trading i can't wait to see what happens. liz: i don't know, we just hit a session high, and we're up 568 points for the dow, thank you mr. payne. we do have the bears bathing in the oil pits though, but the bulls are leaving a trail of green across your stock screens, as we head into this final hour of trade the s&p 500 is on pace for the first gain in four days, and the tech-heavy nasdaq is up the most, look at this a gain of 291 points, or two and one- third percent. our floor show traders are suit ing up in front of their cameras right now to tell you where to place your bets ahead of tomorrow's interest rate decision by the federal reserve. in a geopolitical tit-for-tat, this is just precious. russia now says it's imposing sanctions on president joe biden secretary of state anthony blinken and close to a dozen

other u.s. officials as the white house announces the president will travel to brussels next week for an extraordinary wartime summit at the nato alliance. this as big pharma backs out of russia, we've got breaking headlines on that in just a second. sunny skies for airline stocks, with domestic covid-19 cases falling and travel demand up, we've got the ceo of breeze airways on the headwind every carrier is about to face as the big names cut capacity, why breeze is announcing new routes across the country could one of them be in your city? and wildly popular italian foot king scaled from new york cities culinary to your local grocery store shelves all across the nation but with the war in ukraine smashing into the world 's wheat supply the ceo of the jarred pasta parent sovos is here on the coming pasta price panic got to stay tuned for that we begin with a fox business alert take a look at abvie, novartis and

merck. they just added themselves to this growing list of companies pulling out of russia. what's significant here is that these are big pharmaceutical names. the abvie suspending operations while merck and novartis will not make further investments. all three are moving higher you've got abvie up 2.5% merck and novartis up 1% apiece, but we've got to talk about fed right now investors as you see on the lower ticker and on your screen have no fed fear, at least not yet. markets hitting session highs right now, as federal reserve kicks off its two-day interest rate policy meeting. ahead of fed chair jerome powell 's expected announcement tomorrow, that interest rates will rise by just a quarter of a point, that be the first rate hike in more than three years, take a look at the 10 year yield it is heading up the hill, we're at 2.156%. i want to give you a little context here. this morning it had retreated from yesterday's two and a half year high of 2.14% it went down to about 2.08% this morning i

think i was looking at it around 10 a.m. but as you see right now , we are now at 2.154%, so as we watch all of that, we've got to look at oil taking a plunge from its 14-year high it just hit. it is down seven and one-third percent in the after market you've got opec with fears that the omicron variant will curb demand as infections sweep across china. china has lockdown more than 30 million people that's the latest number they've shut factory doors, closing seaports and that of course is adding to oil's downward pressure but lower oil, great news for the airlines. they are climbing with the surge in travel demand giving the commercial liners a boost to offset high jet fuel costs, all of this is filling investors plates. take a look at the vix and it is down at the moment we do have it lower by 4.7%, that means no surprises here. investors are not concerned because they know or at least they believe they know anything could happen, but they know the fed chair jerome powell's

big reveal tomorrow will probably be just a miniscule hike in interest rates, but even so, what trades that have worked so far will come to a screeching halt let's bring in our floor show traders, joining me now, revere security scott fullman and global fixed income head andy brenner. scott, we know that it will most likely, 99% or whatever the fed funds futures are showing at the very moment that it will be the smallest of incremental moves to the upside here for interest rates, so no fear here, right? but what comes to an end that has been doing so well so far? >> well, i think part of what's going to come to an end, liz, people are cutting back a bit on consumer discretionary spending. now not to say people aren't going to go on vacations. after two years of covid, people need those get aways and i think they continue to do that but i think they are going to cut down a bit on their everyday or every week buying of certain items like going to restaurants, i think they cut back a little

bit because higher energy prices and inflation combined with the fact that we'll probably see increases also and credit card rates make people actually pullback a little bit. this is where, i think, you'll see the consumer become a little bit proactive. also, i think people are cutting back also on automobile purchases, just for the time being between the move from gasoline to electronic vehicles, as well as the price hikes in the vehicles, people really need to turn around and take a little bit of a backstep, but i think this is a buying opportunity for the long term but it's going to take a little while. we've got to wait it out here. liz: well, yeah looking you mentioned the credit cards we're looking at american express is seeing a bump we also have visa moving higher. andy brenner, there's something and i don't want to get too wonky here, but that is catching our eye and that is suddenly we're seeing a yield curve in version at least 20 minutes ago we were between the 10 year and the seven year

yield. the 10 year below the seven year , sometimes people say when the shorter-dated maturities are higher than the longer-dated one it's a harbinger of a recession. what's going to start falling off the rails here? >> well, liz, you know, what you pointed out earlier is powell is going to raise 25 tomorrow and the question is does he come across doveish in raising rates or does he come across hawkish. we think he's much more concerned about the fate of the economy and he doesn't want to give back the gains he got in employment over the last two years by raising rates too quickly and sending the economy into a recession. as far as the yield curve, we look at twos tens and five 30s, yes that sevens tens right now is slightly inverted and fives tens is only five basis points and 20s 30s are inverted but we think that's all technical. if two tens were to go inverted

or five 30s were to go inverted then we would really show a concern, but liz, this is a real technical market, and i'm not too concerned about the economy going into a recession. i think the economy is strong and i think it's going to stay strong, but yes, there will be a slow down but i think powell is looking at that. the goldman sachs financial conditions index is the tightest its been since may of 2009 so he's getting a lot of tightening , a lot of slowing down in the economy. i don't think he has to raise more than four times this year and do some balance sheet reductions. that's our call. liz: yeah, scott, there are un intended consequences for every action, there's an equal and opposite reaction. again, this will be a tiny move, most likely, there's always that strange moment where you feel like maybe powell will do get nervous because we do have this horrific situation in ukraine. not to mention speaking inflation, we've got the ppi today which was unbelievable. i mean, it matched as we

predicted 10%. that's just crazy year-over-year , but tell me where you see the real opportunities for our investor audience ahead of tomorrow. >> well, i think it's in the banking stocks, you know, the fact is though that margins will go up a bit. i think that ultimately people are going to stay defensive for a bit of time. the fact is is that regardless of what the fed does, i don't think it's going to have any material impact on inflation at this point. we need to bring down energy prices substantially. we need to get the economy stable and we need to get people back to work. there's a lot of people who dropped off the employment low. we need to get those people back in and we need to get the economy really going again after the pandemic and i think that that's really the key and that's where powell is going to focus. liz: andy, we do have some breaking news here on sarah bloom raskin. she of course was the key

centrist democrat i'm sorry she was the position, she was up for the position of being the top regulator at the federal reserve, she's now pulling her candidacy. she's withdrawn, according to a report, her candidacy for that position on the federal reserve, because senator joe manchin, who is that key centrist democrat has said he cannot support her because he didn't like her positions on climate change. he, of course from west virginia , a coal-producing state what does this mean for the federal reserve and the ability for the president to at least nominate people that he believes are in line with how he feels the fed should be run even though the fed is supposed to be a separate entity from the government. >> liz, sarah bloom raskin's nomination was in trouble from the get-go, between what she had done in kansas city for a company of which she was on the board as well as her position in climate change really didn't fit the fed, and the fact that the senate

wouldn't vote on powell and brainard and two other candidates while her name was still there, just opens it up and allow allows the other four candidates to get approved and biden will just have to come up with someone else. as far as where there's opportunity, look. we think the bottom of the markets of risk has been in the month of march. march of 2009, march of 2016, and we think tomorrow is going to be it as well, so we like what scott fullman trades, at least when i worked with him, i think that's where you'll make all the money starting thursday morning. so good luck, scott. liz: yeah. >> well thank you very much [laughter] liz: scott, andy, thank you very much, check the dow up 573, breaking news, moments ago president joe biden signed a consolidated appropriations act of 2022 it's a $1.5 trillion omnibus budgetary package that contains about 730 billion in non-defense spending and another

782 billion in defense spending and funds the government through september. the legislation also earmarks about 13.6 billion in military and humanitarian aid for ukraine let's get to edward lawrence whose live at the white house. we have so much news here, you've got stuff on sarah bloom raskin withdrawing her nomination, plus the new sanctions that the russians have levied on the commander-in-chief, joe biden. reporter: yeah, exactly. that withdraw happened, withdraw of the name, of sarah bloom raskin happened within, you know , the last 15-20 minutes or so, because during the press briefing, 30 minutes ago, white house press secretary jen psaki was saying that they still stood behind her and that she should come up for a vote in the committee because she has the votes to pass through the banking committee with democrats only, republicans didn't support that nomination so she's now withdrawn her name from consideration for the federal reserve board and they are moving forward with possibly the four names and the president will come up with a fifth name, an extra person

now to put in for that. now on russia, i can tell you that we have retaliation as you mentioned from russia against the united states. russia is now placing sanctions on president joe biden but he's also hinting there are other top administration officials including the white house press secretary but they are also hinting hunter biden as well as hillary clinton, you see the names of everyone whose been sanctioned. none of them have trips planned to russia so this is more symbolic upon russia but those are the folks russia is sanctioning. now, you talk about the appropriation act. among the things it gives as you said about $14 billion to ukraine, military pay raise here at home and funds the government for another fiscal year. now with russia moving to invade ukraine, we're also starting to see a growing russia-china connection emerge here. the u.s. is warning the chinese not to help russia with military equipment or economic help, so i asked about this an hour ago. listen. so right now you're saying the china and chinese companies are not breaking sanctions by dog normal economic relations?

>> i did not provide an update or an assessment of that from here nor do i have one to provide you. reporter: so but this is putting pressure again on chinese stocks stocks that are from china listed here on the stock exchange. china making no bones about it that they will not stop the relationship they have economically with russia. in fact, in a statement, the chinese foreign minister spokesperson, he says this , "we strongly urge the u.s. not to undermine interest in china and other parties when handling relations with russia. china and russia will continue to conduct normal economic and trade cooperation in the spirit of mutual respect, equality and mutual benefits utility so right now china has not been named in those sanctions, but the u.s. could name them in secondary sanctions if they cross a line which the white house will not say what that line is. back to you. liz: edward lawrence thank you very much. as airline stocks take to the skies amid a travel boom, why are jet blue and three other majors cutting capacity at the

same time? what must the jet blue founder, a very big thinker, think about that and how is his new airline stepping into replace the smaller city spokes in the hub-and-spoke model that have been left on the tarmac with the closing bell ringing in 47 minutes, the dow making brand new highs, up 588 just a second ago, we're going to ask breeze airways ceo david neilman, next. "clayman countdown" is coming right back.

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liz: weave got to check back in with the airlines, delta, american, united and jet blue in case you're listening on xm radio channel 113, we've got to tell you these numbers delta is up 8.25%, american up 8.5%, ual up 8.25% jet blue up 7 -plus percent because all four say revenues will be up. they're raising their current quarter forecast from strong travel demand, that they believe will offset the rise in jet fuel prices but just as americans are eager to travel again, all four commercial liners are cutting capacity to help shoulder the

energy costs. jet blue founder david neeleman, is a guy who disrupted the entire airline industry when he founded the low cost carrier in 2000 doing it again with his new airline, breeze airways let's bring him in breeze airways founder jet blue and david neeleman. what do you think about these big carriers cutting capacity just as people are dying to get back on airplanes again? >> well, you know, there's a lot of factors, there was the fuel spike in fuel prices that the had a little effect on it but now they are coming down but also there's a critical pilot shortage in the united states. the big airlines retired almost 8,000 pilots, early retired, said we don't need you, go retire, we'll pay you to retire and now they are saying holy whatever, we into ed to get more pilots and that's causing, you know, air service has been cut to cities, the regional airlines

are cutting service so that may play a role as well. liz: they've cut as we like to say the spokes of the hub-and-spoke model and the spokes, of course were the little, the shorter haul routes to smaller cities and precisely as they are utility canning capacity, you guys are jumping in arounding 35 new routes from 10 different cities. some of them, syracuse to vegas, you've got providence in there, you've got savannah, georgia, and then la and san francisco as well. what is the thinking behind these new routes and tell us about them. >> well you know, our motto is we want to get you there for twice as fast for about half the price. that's kind of our motto, and so we have, there's a lot of routes that the have been abandoned or have never been flown, travel demographics moved a lot of people moving from the northeast to kind of the central region of the united states, and so these

are routes that by and large don't have any non-stop competition and we just know if people can go non-stop, they can do it for less money they just go more often so that's really what we're targeting. liz: i do have to ask how you are dealing with the pilot shortage and the soaring jet fuel prices. >> well you know, there were regulations that changed pilot regulations. there was a really tragic crash years and years ago in buffalo so they changed the requirements for commercial pilot to 250 hours to 1,500 hours and those aren't really necessarily quality hours, just quantity, and so we're talking to the faa and other people and senator schumer has been instrumental in this and say look, if we can create quality hours, you know, because what's happening is we're having to go outside the united states to bring in pilots and it's really affecting

this large number of hours is affecting minorities and women to be able to become airline pilots so we can be 1,000 percent safe and do it with less hours and i think that's really the key to solve this shortage right now, and because it's limiting service, it's driving up airfare, it's bad for consumers, and the u.s. air transportation system is as safe as its ever been. it's incredibly safe. i don't think there's been an accident since that buffalo accident and that really had nothing to do with hours of the pilot, so you know, i think there's a lot that can be done and we're working hard to kind of modify things so we can keep those fares down and keep system safe. liz: yeah, and keep the small cities involved in air travel. good for you, david, thank you so much. >> thanks, liz. liz: david neeleman of breeze airways. the war in ukraine, you guys, is not just about oil & gas and jet fuel and wheat prices. it comes with a terrible human cost, and that toll has now touched the fox news media family entirely too close to

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liz: we got to show you the dow intraday chart just a second ago we hit session highs, look at this , up 622. we were just up more than 637 points at the moment. we do have this very strong rally at the moment, in part, because there is some optimism about oil prices coming down, interestingly enough normally the energy stocks that were coming down might hurt the dow jones industrials but they are not at the moment so we are watching a big rally at the moment. fox business alert, peloton stock cycling to gains after alliance bernstein a initiated coverage with an overweight rating and price target of $40 a share. okay the stock is up 11% right now, to $22.45. the firm, very bullish on the stock, after the fitness subscription company hired a new ceo, that was a while ago, started a new supply chain strategy, and continues to have a growing total addressable market. peloton has traveled a very rough road year-over-year, down

about 82% but it is not the only at-home stock that's showing momentum, as china renews lockdowns amid a fresh covid spike after falling to the lowest level since the onset of the pandemic. it's now apparently time to buy zoom video communications. sosa benchmark which upgraded the video conferencing leader from a buy to hold and set a price target of 124 bucks. stock is up 4%. it's at 98.50. the brokerage expressing faith in management particularly in founder and ceo eric yuwan. by the way you've got to listen to the in depth interview we did with eric on my everyone talks to liz podcast well before the pandemic, and you'll see why benchmark might be feeling that way. and after dropping 36% year-over-year, netflix catching a bid on news it'll make five new animated shows to bolster the streamers preschool offering right now netflix is up 3.5%. and in the wake of last weeks

price bump on some versions of its models y and 3 overnight, tesla raised the prices again this time of all of its models in the u.s. by 5% to 10% along with china-made versions of the model 3 and the model y. it comes after ceo elon musk had tweeted about skyrocketing raw materials inflation. the least expensive tesla ev by the way now stands at just under $47,000. tesla popping by 4.5% which leads us to ask, are gm and ford next? i mean we can look at those stocks they are both moving higher. will gm and ford jackup the price tags on their ev's the hummer ev for gm and the f-150 lightning truck for ford now that tesla seems to have perceived pricing power. shares of ford up two and one- third percent, gm up three and one-third percent and speaking of ev, starbucks has announced a partnership with vol vo usa to establish the first public ev charging network at the coffee chain stores in the u.s..

they are going to have 60 chargers installed at up to 15 starbucks locations. starbucks is up about 5% right now. we have volvo down a quarter of a percent and separately an investor group is urging the coffee chain to adopt a neutral policy toward union efforts. the group holds at least 1.2 billion in starbucks stock and once the company to reach a fair and timely collective bargaining agreement with workers who vote to join the union no word from starbucks on the matter it appears to be a small group of investors here, with just over a billion involved but still, we are watching that story. we saw wheat prices can we bring those back for a second, they are up another 5.5% right now, but now your daily bread isn't the only item that could soon be in short supply. we're talking price panic in the pasta aisle with the ceo of the company behind rayos famed marinara sauc e. closing bell 29 minutes away and the dow keeps chugging higher

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now, many ukrainian farmers can't get to their fields to fertilize their wheat crops that is set to be harvested this summer. joining us in a fox business exclusive, major food company that owns some big name brands including rayos, the number two pasta and pizza sauce brand in the u.s. , and joining me now, the parent of that brand, sovos brands founder president and ceo todd lockman. well, you take up a lot of space in my pantry, i can tell you that. >> thanks for that. reporter: my kids love it but let's talk broadly first. the pasta panic you also have a pasta company. tell me, as even though you don't source your wheat from russia or ukraine, how do you see the whole world being affect ed by this and what people will see on the prices as far as pasta is concerned? >> sure, liz. you know, i'd be remiss in not mentioning a couple things first of all great to be on your show first of all saddened by the

conflict. liz: yeah, of course. >> in the region hoping for a very peaceful resolution quickly i will get to your question in one second but what i will say is 2021 was a remarkable year for sovos brands successful ipo just announced top line and bottom line growing over 25% in 2021 exceeding our guidance and rao's which thank you for having in your pantry, now the number two sauce brand in the marketplace, fastest-growing brand in the center store of scale over the last two years. in regards to pasta and your question, we do have a pasta brand rao's in the u.s. , and our effect of, you know, the effect of the ukraine-russia crisis in regards to inflation and supply on us is really related to fuel and logistics, similar to our peers. the small amount of wheat that we source for our birch benders

brand is in the u.s. and it's not a large amount, so what we would see globally on pasta, i'm sure be in line with what other peer companies in that category are communicating at this time given the high inflationary pressure. liz: well, you know, i think it's really fascinating but in kind of an ugly way that we see globalization coming to roost at the moment, because of course russia is a big fuel exporter. we have not today, but recently seen all kinds of fuels, the entire energy complex speaking, and its been very hard not just for consumers but for companies like yours, when you're talking about trucking and you're talking about moving and supply chain issues. you know, is that what's going to be at the heart of price hikes that you foresee? >> so absolutely. it's a challenging and ever- evolving operating environment for our company as well as our peers.

today, we communicated topline growth for 2022 our guidance of 11% to 13% topline growth and you know, bottom line growth when you adjust for like-for-like public company costs of growing 5 to 10% so over $800 million of top line sales, and that includes in our guidance, it includes the expectations of the inflationary pressures that we're seeing and yes we are passing on some of that impact vis-a-vis pricing to the consumers across our brands and our categories. to date we have not seen the effect of u.s. elasticity or tick down of unit sales which is unique, liz, for our company in stark contrast to our peers, we are growing units robustly. in 2021, our rao's sauce brand grew volume 30% versus prior-year. the only top 10 brand to grow units at all and our soup brand now the number five soup brand

grew units 30% every other top soup brand declined in units so we are growing volume, yes we are passing on some pricing, but we have the types of premium brands, great taste that can weather the premium price. they are premium priced brands and restaurant quality. liz: of course, but todd, i think about materials, not just what goes in the jars, but the glass in the jars, and the tops of the jars which i understand are not cheaply made. those tops of jars i believe are made from plated steel. steel prices have gone through the roof. how are you absorbing that? >> absolutely so we have in our guidance today, we're projecting high single-digit inflation which is really double the amount of inflation that we project just in our last earnings call inq 3, and incorporated in that guidance, in that high single-digit, absolutely, liz you're right whether it's increased price on the lids for our jars, increased pricing on the foils that go on

top of our absolutely delicious noosa yogurt or the glass jars et cetera so we are absorbing that. our pricing really only covers about 50% of the inflation there , and we're driving productivity initiatives across the company to cover the other half so you're absolutely right, liz, whether it's glass, foil, lids, whether it's logistics, container costs, protein, milk they are all increasing at very very high rates, rates that haven't been seen in decades and we are covering that through roughly half pricing and half through productivity. liz: well, we're all dealing with some form of inflation or another, so good luck, and we're watching it very closely, todd, thank you so much. >> thank you, liz, great to be on your show. liz: anytime. is the amc ceo really, i mean, what was he done? the king silver back has just made a buy that has zero to do

with the movie industry or the theatre business, except sharing the color of the oscar statue. charlie gasparino on adam aron's eye brow raising move and the company, his company has just invested in, charlie breaks it next. while the world has been on lockdown since march of 2020 in some form or another, this woman on your screen turned her side hustle into a seven figure business from her childhood bedroom, no less. this week, i sat down with cat norton, create or of the viral excel, tik tok account to hear how she capitalized on her expertise and made it a full time job teaching people on tik tok how to do short cuts on excel. you don't want to miss this weeks episode of everyone talks to liz, how did she do it without spending a penny just using her iphone and now she's making seven figures?

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liz: have you ever heard of high croft mining? this was a small gold and silver miner, and it is soaring 13.6% at this hour, after movie theatre chain amc announced it's buying a 22% stake in the nevada -based mining company. amc stock also benefiting it's up six and one-third percent right now, some investors are raising their eyebrows trying to guess what's really behind the nearly $28 million move. joining us now, with his insight

, shall we say, is charlie gasparino. charlie: what do you mean, shall we say? liz: it's a strange, strange move. charlie: um, yeah, and it depends on, listen, i think the amc apes love it they think it's a diversification into gold in an inflationary environment. if you listen to my producer was doing that today, and it's kind o of what they said. not a totally absurd i guess analysis. some weird stuff on this , now adam aron was supposed to make the rounds today on both business channels, us, i don't know but i think us and cnbc, he canceled both which is very odd. i don't know why he did that because today be a day to like explain to investors why a movie theatre company is getting into the gold mining business. it's such, i mean, i just can't imagine he's an expert at gold mining. liz: diversification. charlie: no but true. liz: by the thousand. charlie: and you know, one of the things we've learned from diversification from business

models like ge is it doesn't always work. it's hard to have skillsets that span every business in the world particularly have a skillset that is really good at movie theaters, and a skillset that's really good at mining gold and silver. think about how crazy that is. the other part i would say is that when he made the announcement that this was the weird thing, in my view. when he made the announcement, he didn't say that hycroft, is that the name of the company? do i got that right? liz: hycroft. charlie: hycroft was doing a secondary offering and that raised my eyebrows because i'm wondering why he didn't disclose , obviously he's not commenting. liz: it was up more than 30%. charlie: yeah, i know but why didn't he, you know, disclose that hillary clinton was doing a secondary as he was announcing this deal? liz: explain to our viewers why that matters. charlie: well if you're dog a secondary you're diluting shareholders. if you have a loyal fan base, like amc, they're prone to buy the stock but shouldn't they

really know they are buying it amid a potential dilution? it's just common sense, and you know i'm not saying there's anything illegal with this , but i think he should have, i mean, my view, i don't know why his lawyers probably said it was okay but i would think that that is a disclosable event as i'm buying a company, you know, you, amc shareholders, just so you know, buying this company, it's great for our business, and that could spur the apes, who are very loyal to him, to buy the hycroft shares. they're buying into a second air chi is dilutive. liz: well they've got 15 milliod charlie: but you understand what i'm saying here. they're buying into dilution, without maybe not knowing it, because the ceo of amc really didn't say it. so this is kind of what's catching everybody's eyes. couple other things. obviously, people are questioning whether this is a sign that his core business is

never going to return to decent levels. it's going to get better obviously, we're in a post- pandemic environment, but this is still a company that has a ways to go to achieve those goals and it does confirm some of our reporting, that we ironically because i was just thinking of milking today we're going very soon, and it was held last october. liz: the conference. >> institute conference where we reported that adam aron was going to do a business strategy change. that was one of our big scoops coming out of there, that he had told us he's looking to diversify the business. liz: you would have thought crypto not actual gold. charlie: just so you know i thought the way he was going to do it was what he previously announced getting into the popcorn selling business, like putting popcorn in malls, i didn't think he was getting into gold mining, but we'll see. we'll see how this works out. he's a resourceful guy. back to you, liz. liz: charlie, thank you very much. i hate to tell this to you, but

we just got more horrifying news to report on that deadly air strike that killed fox news photographer pierre zachefsky. it seriously injured fox news correspondent benjamin hall that we've now learned journalist alexandra kupshinova was also killed in the deadly incident she was working as a consultant for fox news and was with them in the vehicle when they came under attack. she was helping our crews navigate kyiv and the surround ing area while gathering information and speaking to sources. she's known as a fixer, who fixed just about everything. she spoke the language, she help ed the crew on the ground. sasha was just 24 years old. our deepest sympathies to her family. we're coming right back.

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♪. liz: 3 1/2 minutes before the closing bell rings and look at

the nasdaq, up 375 points. that is the session high, up nearly 3%. it is really tech has had the runaway gains all day long. the tech-heavy index is sort of the overall umbrella area let's dig down beneath the umbrella. names include nvidia, advanced micro devices, micron, may be impacted by higher interest rates, we'll see. but we have quite the bull rally right now with those names. at this hour tomorrow we know the federal reserve stance on interest rates. a hike of about a quarter of a percent but ahead of the decision, today's "countdown" closer is hunting for bargain basement deals he is join bringing them to you. we have hodges fund, craig hodges. what are they? >> right to it. the market really sold off as everyone has known. there are a lot of cheap stocks

going into the selloff. a lot of those have been hit just as hard, if not some worse than the high, high multiple stocks. so we, here at hodges capital we love things like american eagle outfitters which owns the ari brand in addition to american eagle stores but here is a company trading eight times earnings, pay as 4% dividend and is going to grown, the brand is growing well in excess of 30%. very, very inexpensive. on core wire, which is a electric building wire company, encore. best management team in the business. they're always a step ahead of their competitors but here is a stock that earns $26 a share in 21. trading at about $120 a share. very, very inexpensive. buying back, announced a two million dollar share buyback. so i believe that stock is very inexpensive. it has some big upside. then lastly commercial metals

which we mentioned on here several times, trading near its all-time highs but in the rebar business spending on rebar will be tremendous with the infrastructure that will be built in this country over next five years. another very inexpensive stock. liz: you know, i love the idea of making sure that you're watching those p-e ratios to make sure you're not over paying. that is very much the buffett way. i guess with american eagle outfitters it is down 41% year-over-year. i best you're not buying it at highs. >> just started buying it. liz: we have 30 seconds left what do you expect the markets will take away from the federal reserve tomorrow? >> i think everyone factored in 25% raise. i think they signaled that. i don't think it will be a big event. anytime you see the nasdaq down 20%, the russell 2000 down 20%, your downside risk is not near what it was. there is some pretty good up

side from these levels. liz: craig, it is wonderful to see you. thank you so much for joining us. you hear the cheers. it is a very good day for the bulls. the s&p and nasdaq. [closing bell rings] three day lose streak ends as we await the federal reserve decision. the 3:00 p.m. hour will be extremely important. join us. we'll be right there for you. ♪. larry: hello, everyone, welcome to "kudlow," i'm larry kudlow. so yes, virginia there is a higher power. the anti-capitalist, anti-fossil fuel sarah bloom raskin has withdrawn her name from the federal reserve vice-chair for bank supervision. miss raskin tried the old biden ploy lying her way through confirmation hearings, spewing falsehood after falsehood. during the height of the pandemic in 2020 however, she wrote the fed should do all