more cash to buy overreactions. the good news, the sentiment suggests there's going to be a whole lot of market overreaction i don't want you to be a victim of it, take advantage of it in the meantime liz claman, we have bounced around like crazy in this hour. i don't know, you asked me an hour ago i would say we might close positive. 20 minutes ago i would have said negative. good luck, sister. liz: uh-huh like a teenager or toddler, right? charles: exactly. liz: that's the markets. here come the half point hikes, minutes just out from the march federal reserve meeting, revealed in the last hour that voting members on the interest rate committee favor a 50 basis point hike and more at the coming meetings. in fact a bunch of them actually wanted that instead of the quarter point hike that was implemented on march 16. market spasm just like charles said they were off the lows and then after jumping began falling again, right now we do have them back in the red, although way off the lows of the session, the

dow now down 53, s&p down 26 , the nasdaq down 218. elon musk's exciting week about to reach a crescendo tomorrow at tesla's invitation-only cyber rodeo event celebrating the opening of its giga texas factory. will he reveal details of the cyber truck? our tesla whisperer has been talking to the ev sources he is here, he's the ceo of ev annex, and revealing it in a fox business exclusive, his predictions have been correct. and lemonade developing a new recipe to build a new market while helping african farmers using the cryptoverse to pay for crop insurance, the lemonade ceo is here in a fox business exclusive to explain how his crypto climate coalition is going to work and victoria's secret in trouble at this hour as kim kardashian gives new life to the angels who got their wings clipped months ago by the

retailer. find out, kim k's business plan for america's top models and how it's affecting victoria's secret stock. we begin with breaking news though we've got to look at frontier, hold the phone on that jet blue deal with spirit airlines the parent says its $2.9 billion merger deal announced in february is the matchup in best interest of consumers and shareholders. during this hour yesterday, you may remember jet blue revealed a $3.6 billion bid for spirit halt ed on the news and then began trading up about 22%. today while jet blue says it's highly confident it can secure regulatory approval, analysts from raymond james and jpmorgan chase are not so sure they say they doubt it be approved. the doubt is creeping into the markets frontier down 9.6%, jet blue down 7%, spirit down 2 and one-third percent. look, overall, the stocks across-the-board are down along with the dow transport index which is seeing outsized selling at this hour. we've got the transports down a

full 3% or 459 points going into today's session. this index was less than a percentage point away from bear market territory, meaning down 20% since recent highs. so we're keeping an eye on that, and then there's this. the market, what did i say? acting like a tired toddler, screaming then laughing hysterically then crying and now just wimpering. the s&p 500 and nasdaq are off session lows same with the dow as investors digest what just came out at 2:00 p.m. eastern in the federal reserve's march fed minutes. the minutes reveal officials will be shrinking the balance sheet about $95 billion per month and would like to see a 50 basis point rate hike at coming meetings to take down inflation. they did, of course, settle on a 25 basis point hike at the march meeting due to russia's war on ukraine causing all kinds of volatility and concern and nervousness, but inflation and it is sky high, is still very much at the forefront.

recession is even a bigger worry for many economists but treasury secretary janet yellen made no indication today she believes we're headed for one. she told the house financial services committee that putin's war will still send shockwaves throughout the global economy; however, listen. >> the actions including the atrocities committed against the innocent ukrainians in bucha are reprehensible, represents an unacceptable afront to the rules-based global order and will have enormous economic repercussions in ukraine and beyond. liz: okay, so what does that mean? does that hold the fed back from 50 basis point hikes? either way we're looking at financial titans, the big financial names all down, we do have everybody from bank of america, jpmorgan, citi, goldman , morgan stanley down from half a percentage point to more than 2% to the downside. let's look at the yields though, the 10 year treasury yield is piecing in all of this today.

we do have that yield, now well up, right? we came in at about 2.5% earlier and then 2.599% we're at 2.613 at the moment so let's get to the floor show and translate all of this joining me now great hill capital chairman tom haze and carnivore trading founder dutch masters. tom, tell me exactly what this should really mean to our investor viewers because to me, there wasn't that much of a surprise in anything here, yet, the market seemed to be a little confused as to how to absorb it all. >> yeah, i think you're spot on here, liz. this is going to be another case of the last two days weakness sell the rumor, buy the news, this was telegraphed at the last press conference with jay powell and he said that balance sheet roll off could begin as early as may. we got confirmation of that today. we're seeing fed funds futures showing a 78.8% chance of a 50 basis point hike in may, so this is known and to put it in perspective, the 10 year yield

touched 2.63 today. the peak in october 2018 was 325 and the peak in january 2014 was 303. the bad news is the 210 spread inverted this week, so we're likely going to get a shallow recession mid to late next year. the good news is the market can push a lot higher in the meantime since 1900 there have been 28 inversions, 22 led to a recession, that took place 22 months after inversion and if you look at the last four inversions, the market rose for another 17 months on average 28.8% so we think there's things to do in the short-term. liz: dutch, i agree. i don't sit here and worry too much about a recession when you look at the current data, however, we're kind of seeing tighter monetary conditions, the situation in ukraine and russia, they are big exporters of all kinds of commodities so prices are continuing to rise although we're going to get to oil prices dropping exponentially in just a

minute, but dutch, what do you think is the best way to proceed as an investor? >> well, what we did is we went short yesterday, we went short again more of it this morning. we don't see how with the 10 year yield accelerating the rate of change is actually accelerating on the yield, to the upside and we see that as a real problem for long duration stocks so the tech stocks we got short on. we like about three days ago, russia came out and said that they were going to stop exporting to anybody whose an enemy and if you haven't been living under a rock, you know that we're the enemy and so is europe. liz: everybody, except china. >> yeah, so we're basically going to not have some vital inputs to production and food, so we like the agricultural stocks and the food stocks, so we went long on those.

you know, this is, this rate increase cannot, it's un sustainable and really what we're seeing is when you take a country that's the breadbasket and the gas station and the mineral mining center of the eastern hemisphere off the market, you're not going to solve the inflation problem and no rate increases by the fed, by the way, is going to solve that either. liz: why did you short the queue and sell the queue? this of course is the nasdaq 100 best of the best and mostly tech it's about down 1.6% but are you saying that growth is going to get killed by value? >> i'm not saying growth is going to be outdone by value. we're a sector picker and really what we find, i think the thing that carnivore trading is best at is finding the sector that's going to move next, and so we like the food and the agriculture sector. we were early in the marine shipping and the fertilizer sector last year and the year before, so we had some really

really good runs, even in down markets, and so we just don't like how, you can not see rates increase at this rate of change and have the long duration stock s continue to move up. we had a huge rip up here over the last couple of weeks, and we just felt that it might just be time for a pause or somewhat of a retracement. liz: we're looking at the dow right now. tom we're down 106 points low of the session, a loss of let's see , 364 but remember yesterday , we lost 280 points so its been a rough couple of days here. today, patrick harker of the philly fed said this is volatile combination of generous fiscal policy, that of course were all of the checks that the government wrote during the covid pandemic, supply chain disruptions, and then only third did he mention accommodative monetary policy have "pushed inflation higher."

man, they just, i mean, do they pretend that they kept saying this thing was going to be temporary and it is now in its 15th, 16th month with the high prices? >> yeah, no question about it. the problem is, is monetary policy can't create more oil, it can't create a negotiated settlement between russia and the ukraine, it can't create an iran nuclear deal between the u.s. and iran, so a lot of these things are episodic but it is persistent, and there's no question about it we're seeing some green shoots with the port in los angeles easing up and the shift from spending on goods to spending on services. we're going to get revenge travel this summer we know suitcases and swim suits are big sellers at target, but we want to be in sectors that are not correlated to gdp growth, because we had 6% last year. we're probably only going to have 3.5-3.8% gdp growth this year so we're focused on biotech because it has a very low correlation to gdp growth and we are moving into a slightly slowing environment.

liz: great to have you both, tom , dutch, welcome, great to have you. i do just want to give this headline folks and i'm watching amazon at the moment down 2.6%. this headline, the sec is investigating how amazon disclosed business practices and there maybe a specific focus, this according to the wall street journal on third party sellers and how they sold that data. that apparently, according to the journal, is a focus of the regulators probe. we do have amazon down about 2.6 %. congress sure picked an interesting day to drill top oil executives about the high price of oil & gas o because crude oil is pulling way back during the session, wti closed at about $96.23 a barrel, that was in the regular session right now it's down 4.7% just off those lows, brent fell about 5% during the regular session it's still down about 4.5% look at gasoline down 3%.

this as six oil executives were hit with questions from lawmakers on capitol hill over skyrocketing energy prices. the ceo's ofbp america, chevron and exxon, pointed their fingers at the war in ukraine and rising inflation for the recent spike in the price of the global market oil. now while crude oil is up 7% since the russian invasion in late february, it has dropped about 14% over the past four weeks. just over the past four weeks, so even so, one ceo told congress, there's no quick fix to high prices. even as high prices are coming down, let's get to capitol hill and hillary vaughn. hillary here is a quick fix, wholesale gasoline is down 12% over the past month. reporter: [laughter] liz, yeah, and to that point, house democrats today made the case that they think there is a quick fix to get these oil companies to stop price gouging, but all of these executives looked point blank at the lawmakers today and said they are not price gouging but some

democrats pointed to record company profits as proof that they could easily make gas cheaper for americans. >> frankly giving your profit, you could drop prices without even increasing production. what will it take? >> the issue of permitting that has been raised multiple times is essential. it also -- >> thank you. >> an environment supportive of investment in this industry. reporter: but the oil company ceo's made the point that a lot of them do not own or operate most of the gas stations in the country. a lot of them are mom and pop operations. instead, they say it's president biden's policies that are influencing production and impacting prices at the pump. >> so these regulations make it harder for you to produce energy in america. >> yes, they do. >> mr. sheffield? >> yes, they do, sir. >> mr. moncreif? >> yes, they do. >> ms. watkins?

>> congressman, certainly some regulations are necessary for our business, but as i said before we've got outstanding permits, if approved be enable us to bring even more production reporter: so oil companies were straightforward today about what they need from washington. more permits, more expedited leasing, but the top democrat on the house energy and commerce committee told me today he was not persuaded. >> would you support those actions? >> no, because first of all, i don't think that those things are the problem. >> if they're not price gouging then who is to blame for high gas prices? >> well they aren't being honest with you. reporter: so liz, perhaps the bad news out of this is that a lot of democrats are not convinced that this is not in oil companies control, which means there's not a lot of hope that they are going to push for some of these actions, that these executives asked for ex physiograph itly today.

liz? liz: yeah and we do have a piece of this story today, causing the pullback in oil and that's the international energy agency announcing that it's going to release about 120 million-barrels of oil. this of course is a big group of countries including the u.s. which i believe is in about 60 million-barrels here so more supply comes online. sure enough we have the price come down but hillary check out this 10 year chart of exxon-mobile. i think it's really important to make this point. folks, during around 2020, you see a huge drop there in oil. these companies have to roll with the punches so they deal with both booms and certainly busts, right? so right now there's a boom in prices for excolonoscopy en us events and reasons but they also have to shoulder the tough times too so i'm not sure that the blame is really adequately placed. reporter: liz i think that's a great point and we did hear the

companies talked to a little bit about that but one of the biggest criticisms coming from democrats is they think well, they don't lower prices when or give money back to consumers when the price of oil goes down, and they aren't doing it when it goes up, so yeah, they aren't buying that excuse at least democrats aren't. liz: hillary thank you very much hillary vaughn live from capitol hill. to crypto the favorite insurance app of millennials and american farmers all have in common we have the lemonade ceo in a fox business exclusive to tell you about that we're coming right back. to support a strong immune system your body needs a routine. centrum helps your immune defenses every day, with vitamin c, d and zinc* season after season.

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liz: you just heard our trader dutch talking about how he did well infertilizer stocks so look , if you planted fertilizer stocks in your portfolio garden this year they blooming. year-to-date mosaic is up about 8% flip it over to intrepid potash up 8% this as the war in ukraine does drive up demand and drives down supply. farmers all over the world though are battling rising fertilizer costs after russia suspended its potash exports due to the conflict, but as that black cloud looms over the entire agricultural sector, one insurance company is hoping to shield smaller farmers from a major crop killer and that is

extreme weather. insurance app lemonade is using its foundation money to form a first of its kind crypto climate coalition that will sell climate insurance via the blockchain to small farmers starting in africa who have already been hit very hard by the worst weather events let's get to lemonade's co- founder and ceo whose here in a fox business exclusive, daniel shriber. welcome. this is a very interesting prospected. you are melting the blockchain, cryptocurrency, sub sanctuary hera farmers and insurance through your foundation to do what, to cover them? >> yeah, hi, liz, great to be with you. so insurance is really about flattening risks and enabling people to trade a small predictable affordable loss now which is what premiums are about instead of the big unexpected un affordable losses and you would have thought that subsistence farmers need that more than anyone else because they haven't got results to fall back on, one drought or one

flood can really wipe them out and talking about 2 billion people on the planet who live that way, so insurance would have been a plaintiff perfect solution were it not for the fact we're talking about very small sums of money. an average premium for a farmer in africa for a season might be as little as five bucks, the pay out might be as little as 60 or $70. many parts of the world still have very large populations living at a dollar or two a day , so traditional insurance just doesn't work at those kind of scales. you can't have underwriters engaged for $5 premiums. you can't have agents engaged for $5 premium and you can't afford traditional claims management organizations for $60 payout, so 97% of farmers in sub sahara africa don't have access to insurance and the absurd thing is the people that need it the most have access to it and that's really what the lemonade climate, crypto climate coalition is

coming to tackle. liz: let's make it clear. a lot of these very small farmer s also are highly vulnerable because they do not have access to industrial irrigation so they are hit hard by drought, famine, by all of the issues that we see , much of it stemming from climate change but where does the blockchain and cryptocurrency piece of this and talk about the partners that you have. these are investors, correct? what's in it for them? >> yes, this is a non-profit initiative, so what's in it for all of us is really trying to use our passions to give back to the community at-large and in the case of lemonade you have here the coming together of insurance, technology, and social impact, three of our passions. the way it's going to play out is that blockchain is not merely a way to decentralize information. it also in newer generations of blockchains has something called smart contract, which makes money programable and what happens in these kind of situations is rather than having a legal contract like the

insurance company that we are used to having, you have source code or a smart contract that is automatically executed by the blockchain without there being any centralized organization. liz: no middleman. >> companies are replaced by decentralized organizations. insurance policies are replaced by smart contracts, and claims organizations are made redundant because data sets are pumped into the smart contract itself using something called an oracle liz: daniel, it's always good to see corporations who a lot of people say oh, all they care about is the bottom line, taking foundation money and doing some good with it. please keep us posted on this , and of course all the developments that are going on at lemonade. thank you. >> thank you. liz: kim kardashian has a secret of her own. what the reality star is doing with former victoria's secret angels that has the stock of

victoria's secret falling from the sky that and more straight ahead in todays pop stocks closing bell 36 minutes away, dow is down 171, please keep in mind, low of the session was a loss of 364, the nasdaq which had been down 415 points at the moment is off those lows of the session, we're watching it tick-by-tick every single second stay tuned. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ 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. vi trelegy for copd.e

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liz: fox business alert, first the victoria's secret angels got their pink slips but now kim kardashian is skimming them up and putting them front and center inner under garment ads, affecting stock, look at that, down 5%, as kim kardashian, the reality tv star, unveils her promotional photos for her underwear line skims. they feature, there you see it on the screen, former victoria's secret models heidi klum, tyra banks, and the angels join kardashian in this latest campaign that shows

off the brand's new fits everybody line. skims says it expects sales to fit the $400 million threshold this year. victoria's secret hitting a threshold or at least a bottom there down about $2.53 to $47.06 and the stock itself is down, i want to say year-to-date, about let's see year-over-year down, year-to-date down 15%. also lower at this hour, uk online retailer far fetch, that's falling 8.7% after the company announced it's going to make a $200 million investment in luxury department store owner nieman marcus. the deal will allow nieman and its sister brand bergdorf to expand overseas using far fetch 's technology to grow its digital business, both nieman and goodman will also add some of their brands to far fetch's marketplace. not helping far fetch right now. let's look at shares of tilray. they are actually on the move

higher by 3.5% after the company swung to a profit in the third quarter and reported revenue that far exceeded expectations. the weed company says it already is reaping the benefits of its mega merger deal with fellow pot company afria, that closed in may of last year. tilray shares stand at $7.30 keep in mind, that is still way below the annual high. rising covid cases in china weighing on casino stocks as officials in shanghai extend a strict lockdown affecting the city's 26 million residents. casinos in the macau region are likely to see decreased business until the wave subsides. macau casinos that have exposure certainly to macau are all down, you've got las vegas sands down nearly 3%, mgm down 4.7% wynn down 3.75% and speaking of the shanghai lockdown, covid shutdowns in china, will they hurt elon musk 's sales numbers for the

quarter? we've got the secret tesla indicator here who maybe better at predicting tesla deliveries, and numbers than any of the wall street analysts who cover the stock. the ceo of tesla accessory company ev annex joins us next in a fox business exclusive and also the rumors he's hearing about what's going to happen tomorrow at the gigafactory in texas at the big opening, closing bell 28 minutes away, the dow is now down about 205 points so we're seeing a little bit of erosion here, even moreso than at the top of the hour, nasdaq down 319.

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liz: well, elon musk is having quite the electric week tweeting his way on to twitter's board of directors and getting a seat on that board was just the appetizer. with tesla gearing up for its cyber rodeo tomorrow, this is the grand opening of its austin,

texas gigafactory and is going to be the source of the long- awaited cyber truck, the all electric pick-up truck has already seen driving around the grounds of the giga texas and with something like 15,000 people getting the exclusive invite only to this cyber rodeo tomorrow, maybe the chatter is tesla will finally reveal when the cyber trucks due date for delivery will actually hit the calendar. this as tesla stock actually heads south at this hour, down about 4%. its shanghai factory giga shanghai, has seen no production since march 28 due to extreme covid lockdowns, as the virus sweeps china. joining me now in a fox business exclusive is a guy who has his finger right on the pulse of just how big tesla's demand is. he's ev accessories king, ev ann ex president and founder matt pressman. first of all this giga rodeo, i mean, the chatter about it, is unbelievable, but what are you

hearing, because you've got your ear to the ground. >> i'm getting texts all day today from people driving from all over the country, even from canada, to try to get an invite into the cyber rodeo, and it is the hottest ticket in the world right now, so it's not easy to get a ticket, but i do know a few people who have access to get in, and i'm hearing some good things about it. liz: all right, yeah, so we're hearing there will be, obviously , a nice tour of this brand new gigafactory which is quite unbelievable, and it's solar powered and going to employ to start something like 10,000 people, and these are good paying jobs, here is the aerial shot of it and they have already got a deal with austin community college to start training people, to go straight from college right to the gigafactory to work for instant jobs which i find very admirable, but what about the cyber truck? there's one that's been seen rolling around the property there, elon has been driving one around there. will they announce the cyber truck and when it's going to go

into production? >> yeah, the word on the street is they are calling it cyber rodeo because they are going to do some kind of big reveal, some kind of big announcement surrounding the cyber truck and everyone wants visibility as to when this car will be produced in 2023. obviously, they are backlog of model y reservations is so long, that they can't, right now, responsibly put out the cyber truck this year, but we're hoping that it'll be released next year and the big question is, when? liz: what about the model y backlog? they are also producing model y out of that gigafactory in austin. do you hear any chatter, any scoop about what they might do with that type of announcement? >> yeah, absolutely. well this model y will be different than other model y's in that they will be revealing, we think, the first model y produced the 4,680 battery and also a structural battery design, which adds more

rigitity to the vehicle and makes it more safe and quicker to produce so theoretically at least from what i'm hearing on the street they may do deliveries, surrounding model y new 4680 built vehicles. liz: you mean like presenting some to people who have been on the wait list right there in the audience? >> there's some buzz around that. there's some buzz that that may happen and at a minimum i would think they will showcase what the new structural battery pack will look like, how the production will work and what we'll see ultimately for the production ramp for model y, and it's especially important that they do this right now seeing that the giga shanghai lockdown, and they need to kind of makeup for that shortfall in shanghai with giga austin and of course g iga berlin which recently opened. liz: let's just quickly talk about giga shanghai, i.c.e. been closed for 11 days, apparently they told some suppliers don't

expect it to open until at least tomorrow, but who knows if that's even a possibility. you are really valuable to our viewers, because you're almost better than the analysts. you look at the correlation between your order flows for tesla accessories because you're the original tesla accessory guy and how they pertain to actual sales, so what are, do you think that the current quarter is going to be dinged by what's happening in shanghai certainly from the china sales. >> yeah, well certainly from our standpoint, we are seeing a bit of a dip in the asian markets; however, we are seeing an up-tick in europe and that could be because giga berlin just recently opened, but the big question is how quickly can they ramp giga berlin and how quickly can they ramp giga austin. if those two can ramp quickly, particularly with this new design of the model y, there is a chance that they will makeup for the shortfall they are experiencing in giga shanghai.

liz: well, matt, i've got my cyber whistle ready, you know? i actually spent money to buy this thing, because i got all excited this is from tesla, but i can't wait to see you guys have brand new cyber accessories that you've got in the pipeline right, big secret? >> absolutely big secret it is and our company recently was acquired by enthusiast auto holdings in november, so it's some great news, some big news, and so what we're looking at doing this year is actually producing performance parts, so going from a tesla accessories company to a performance parts company. liz: you're allowed to do that? >> yeah. it's going to be a big deal and there's really amazing projects underway i just can't talk about them and with the cyber truck we're obviously really intent on seeing what the story is. liz: you know to come to us first when you can, matt. thank you. >> i will. liz: matt pressman, he started this tiny business in miami, in florida ev accessories and now look at him. we love it great american story. we're going to have much more on

the tesla cyber rodeo giga texas event tomorrow we've got a full lineup with the president of the tesla owners club of austin tesla shareholder ross gerber, and austin resident andy brenner , who of course is our brilliant fixed income guy. that's all tomorrow, 3:00 p.m. eastern on the "clayman countdown." we are coming right back, dow is down 170. my sister's managing a lot, including her type 2 diabetes. but she's found new ways to stay on top of it all. once-weekly trulicity is proven to help lower a1c and it can help you lose up to 10 pounds. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in children.

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first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. liz: so we were just talking about elon musk, of course he wrestled his way on to twitter while he bought his way on to the twitter board of directors. he went from the largest shareholder of the social media company to then seeing his own stock cool off slightly after a wild two-day run. elon is sending the stock higher

following the disclosure, this is of twitter, it was sending the stock higher, after the disclosure that he took this 9.2% stake monday and of course joined the board. the move sending shockwaves actually all the way to capitol hill, causing congressional democrats to fret that musk might shakeup the narrative. wasn't that his whole point to shake up the narrative, charlie? charlie: we should put up a five day chart of twitter because i wonder if he, excuse me, of tesla, now i'm getting confused. i wonder if he's doing tesla's shareholders any good and just bear with me on this. i'm getting this from my sources in d.c., they are on the gop side. they do have sources on the other side, on the dem side and here is what they are telling me is that congressional democrats clearly after this move where he's not only bought a 9% stake, again, tesla be a good chart to put up, not only has he bought a 9% stake, he's on the board, he's promised to shake things up, and what

they are worried about, tesla is up, interesting, five day chart? liz: by the way it's down at the far right because of the shanghai, but go ahead. charlie: it's down a little bit, right? after he bought. liz: no it's, oh, well yeah, because they had an 11 day closure in shanghai. charlie: right but i think again , the question is whether this is good for the tesla shareholders, and the reason why is -- liz: why would the democrats care about that? charlie: here is what they are worried about and i'm getting this from people close to them, they are worried about him reinstating trump, worried about him reinstating the babylon b, and all these conservatives. liz: oh, on twitter. charlie: the sec on the other hand is worried about him using his place on twitter as essentially the owner, he owns 9% more than anybody, to sort of flout its rules. remember they cut a deal with him where he couldn't do tweets or needed tweets to be approved the board. it gets more complicated when now he's the owner of the company itself. also, let's be clear.

gary gensler, the chair of the sec is very close with elizabeth warren who again, you know, likes the fact very progressive elizabeth warren, that twitter and social media has been, it tends to skew left, it has blocked conservative voices. the babylon b thing is absurd but they did it and one of the reasons elon got in the stock apparently if you look at his past tweets. liz: a little quick history on that. charlie: the babylon b announced man of the year and a transgender woman and someone in the biden administration. liz: it's a satire situation. charlie: it is and for that, they banned the account unless they took it down they wouldn't take it down. donald trump as you know has been banned, suspended, permanently theoretically since the january 6 riots. i think those are two prominent examples you get many more. so there's two stories here the

democrats worried about moving twitter to the right. there's the sec worried a little bit about that, because remember , gary gensler is very close with elizabeth warren plus using twitter as some way to flout the consent decree that they cut with him. both cases, what does that mean for elon musk? what we're hearing is he's got to be careful. they are going to start pouring through all his past statements, start pouring through the records of tesla, which have obviously caught the eye of short sellers, some people think in the past, the accounting wasn't so great. liz: and they have been wrong, wrong, and wrong. charlie: you don't know they have been wrong. liz: betting against the stock they have lost. charlie: that's a different story we're talking about an investigation and when you look at an investigation when you start looking at the accounting which i believe is ongoing investigations by the way, you know, they maybe wrong. i just don't know what the outcome of the investigation s are. i don't think they are over yet, so this is something that i think tesla shareholders should be mindful of.

clearly, elon doesn't care. he had to have known he would draw this much scrutiny and he's willing to go, now the positive thing for elon musk is that the democrats probably have six months left of power, right? liz: well we're heading toward mid-terms. charlie: they are going to be out of the house 99.9% sure, probably out of the senate. it's going to be very hard to twist him if the republicans control half of the government. so that's the good news but in the short-term, this could get a little hairy at least that's what i'm hearing. liz: plus there's the issue of him being distracted with the twitter issue and taking his eye off the ball because he's opening the gigafactory tomorrow in austin and we will be there. charlie: you are going to be there tomorrow? liz: no we're going to have lots of guests from there. charlie: you do know the guy famously sleeps under his desk, if anybody can pull it off, it's him.

i did during the financial crisis all the time. liz: charlie, thank you. see we're in it. we're into it, as the federal reserve goes hiking today's countdown closer has some cash cows he says will deliver more than milk to your portfolio. closing bell ringing in eight minutes, wait until you hear the funds that he likes, stay tuned. (vo) for me, one of the best things about life is that we keep moving forward. we discover exciting new technologies. redefine who we are and how we want to lead our lives. basically, choose what we want our future to look like. so what's yours going to be? (vo) while you may not be closing on a business deal

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♪. liz: okay, four minutes remaining before the closing bell rings. take your eyes look at nasdaq lower by 313 points. yesterday it closed down 328. that is a big two-day chunk lobbed off the nasdaq. we're off session lows for all three major indices. flip it over to go go. the aviation broadband service gives you wi-fi on airplanes, hitting a seven-year high, slightly off session highs but still up after news it will join the s&p 500 small cap 600 index.

gogo up 7 1/2% right now. to energy stocks as they skyrocket, so does a etf invesco dynamic energy and exploration. pxe is the ticker. today's countdown closer recommended it to you on the show december 14th. since then it has jumped 46% versus s&p 500 index loss of 1% over the same time period. let's bring him in to see what the latest idea is. he has 3.8 billion under management. he is healing back a smile. you can smile. that is big win for pxe. do you still like it is. >> we still like pxe. we see the politics going on in washington and the politics affecting globally the supply and demand. we know we have a supply and demand imbalance that will continue with the spr release. that moves demand out later in

the year when they need to replenish the spr we're still positive on energy and like pxe going forward. liz: you like that. give us fresh etfs you feel might have the same exact performance at least the same time period we've seen with pxe. >> sure. two etfs we like a lot come from pacer funds. the one domestic is cowz. it essentially, the etf starts with the russell 1000. they screen on free cash flow and dividend yield. what this gives you unlike nasdaq stocks down a lot today and down a lot this year, these are large cap, high dividend-paying stocks. consistent earnings. free cash flow, strong balance sheets. the stocks we want to be in this year, given the troubling environment with inflation, what we have coming from the fed. there is a global equivalent of that, gcow, which does the same thing with the developed world

large cap index. both are positive this year. we like those forward in 2022. liz: you can either do the american focused one. certainly that is interesting. we're showing you the top holdings, in gcow you have global names, roche holdings but some american names too. big dividend opportunities. what do you make of the fed minutes came out with today, that most of the voting members are really champing at the bit to have 50 basis point, not quarter point hikes? >> liz, i think the fed realized how far behind of curve they are so we're seeing a more and more aggressive monetary tightening that both economists are forecasting and the fed is forecasting. we think very likely we get a 50 basis point rate hike here in may and probably more as they try to get ahead of the curve and as jerome powell said himself in a recent, in the fomc presser to tamp down inflation

no matter what it takes. liz: david, good to see you. nice picks, david kudla with a winner on pxe. here we go red on the screen second day straight. please as markets close down but off the lows following federal reserve minutes join us tomorrow for special coverage of the cyber rodeo. the opening of the giga factory in austin, texas with tesla. "kudlow" is next. [closing bell rings] larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. i want to begin with some quick sound from senator rick scott on last night's show. please take a listen. >> now the probably the biggest issue is the runaway inflation the biden administration caused, the border crisis, what will happen with getting rid of title 42, that's a big deal. not being energy independent. but i think, i think fraud and corruption is, infuriates people. it