cleans -- cleaning in your house. as far as the cars without driving wheels and pedal as, i'm going to bring in my friend, liz claman. liz, i know it's coming, but i'm always going to have a car or two in the garage that i can take out and drive myself. liz: i know, me too. i'm if from california, so we love to drive. charles, i just got an idea because i love what you said about the reddit apes? you should come on this show and fight with charlie gasparino -- [laughter] because he has no respect for them. and i'm kind of tired of it. charles: yeah, yeah. we've had enough run-ins already. his position is intransgent and so is mine so, you know, maybe i'll come in and just have a chat with you one day. liz: okay. you look like you could take him on. [laughter] let's make that quite the chat. charles: see you later. liz: so many stories coming to a head including disney which, by the way, is extending losses on breaking news. and, of course, investors hoping the merger of warner brothers

and discovery would mean the creation of a top sprinter in the streaming race. well, they are fleeing the track right now as we kick off the final hour of trade. in a streaming shocker, wbd, yanking the rug out from cnn cnn+ less than a month after its debut. charlie has late-breaking details. market's got a reversal as fed chair jerome powell invoked the 50 basis point interest rate hike prospect as soon as the may meeting. so we've got the major averages to the downside. dow jones industrials with a swing of more than 500 points. down 289 right now. s&p lower by 57, the nasdaq down nearly 2% right now, a loss of 259 points. so as powell pours cold water on the markets, elon musk's tesla shares are charging up after reporting record profits. all the while musk's twitter, of course, the biggest shareholder

this, rounds up more than $46.5 billion for his takeover attempt. the floor show is here to react on that. all kinds of other issues including disney, powell, netflix and more. now, elon did warn of a supply chain problem ahead, but semiconductor maker wolf speed is hoping to help out elon and the other automakers by opening a new chip plant in upstate new york, right here on american soil. its ceo is here in a fox business excrossive to tell -- exclusive to tell us all about it. plus, binance pulls out of russia. the ceo of crypto security firm fire blocks is here in a fox business exclusive on what the exchange of russian retreatment could go to the -- do to the crypto markets. we want to start with wbd. shares right now down 8.8%, they are fallen below $21 a share on news the company has now confirmed it will pull the plug

on the brand new cnn+ streaming service. sources close to the situation telling "the claman countdown" after hiring a huge work force, the new network chief of broke the news at noon telling them via conference call that cnn+ will go dark april 30th. employees are get -- will get 90 days' pay and the opportunity to apply for positions elsewhere at cnn but no guarantees. for a cane that just put -- company that just put streaming in every press release, it perhaps reflects investor concern that by shuttering the just-launched streaming service management is serving a counterintuitive message indicating disarray. in building up the service over the haas year, former cnn prime minister jeff zucker spent millions -- president jeff zucker spent millions luring entertainment, sources telling us some of the shows will get absorbed into discovery's unified streaming offerings, but it's unclear which ones at this

point will. interesting timing here. flip if it over to shares of at&t which sold is its warner unit in a merger, right now shares powering higher by 4% after the telecom giant reported 29.7 billion for its core phone and internet business. no doubt at&t investors are breathing a sigh of relief that the9 company is no longer dealing with the c cnn+ drama, but what message does this send to those who were betting that warner brothers/discovery would soar as a streaming powerhouse? just a day after cnn+ if's launch, charlie gasparino's was the first to report that the future might be in peril. he's taking time out from his vacation to join us. charlie. >> i just want to add a little logic to the amc situation. if you listened to the promoters of amc and loaded up at 77 thinking it's going to 100 -- liz: okay, okay, i need to hear about warner brothers.

>> no, you brought it up. you brought it up. you lost something like 90% of your money. just a little logic and just to give the other side of the story because i don't want people going out thinking this thing is going to the moon when it's obviously going -- liz: okay, okay. you got it. warner brothers. >> okay. just make sure we're not stock pumping -- liz: we got it. [laughter] >> just want to make sure. i don't work for the booyah network. [laughter] liz: go! [laughter] >> listen, liz, here's the bottom line with this, and, you know, i reported early today even before the news broke that andrew morris was out, that's the head of digital, that there was a major announcement coming at cnn+. i thought it was, just so you know, i did not have initially that they were going to kill the whole thing. this is pretty drastic, but i think with morris out, one of zucker's right-hand men, and the motion that's what's going on inside this company, there's a merger going on. discovery is buying warner

media, they have to cut something like $3-4 billion. not something like, $3-4 billion like of cost savings, synergies. the lowest hanging fruit in this thing is something that's not doing very well and, to be honest with you, does not look great on paper. i don't say this with any glee. i have friends at cnn, i do not want them to lose their jobs. this is horrible for journalists and people in our wiz -- business, but this is wall street. usually the logic of the numbers sort of prevails. and if you need to cut $4 billion, you look at the easiest place to cut it, and cnn+ is right there. now, obviously, they'll probably keep some of the programming. it's not a total blow-up. but most of the 500 people that got the jobs are probably not going to be the absorbed into the new company. that's how you get cost savings. and, again, from day one, from the day we started covering it and, you know, we were first on your show to break the story that it was getting, that there were going to be layoffs in may.

i actually said that on your show, and we're in may right now, aren't we? we're pretty close, right? [laughter] you know, right at the cusp. they actually did it before may. you know, this is, this was gonna happen. and, you know, here's the thing, david zaslav inherited the company. cnn has a business model that, to be honest with you, does not track well with public opinion polls. a business model that's very, very i skewed towards progressive politics, and it doesn't do it on the cheap like msnbc does. it's got, like, much more overhead. and if you want to know how progressive politics rate, all you have to do is look at joe biden's ratings now. and if you put all that together, this is something that will not sell. and a sort of soft version of that sort of lefty, soft progressive stuff, you know, through the lens of anderson cooper giving child-rearing advice and jake tapper's book

club and scott galloway mouthing off about whatever progressive tech stuff that he talks about, it's just not going to sell. and i think right now, i think what's also going to happen at cnn is you're going to see a programming change. i think john malign -- malone are, the tech guy and, you know, he's one of the largest shareholders in discovery which now owns the whole thing, he wants to move it to the center, and i think this is the beginning of that. it's very interesting here, not many zucker people left at the company now that morris is gone. and now the question is, do they keep some of the talent? liz: we're waiting to hear any more clarity on that. charlie, thank you. we do want to let our viewers know, yes, shares down 40% year-over-year now, and we are below -- well, we're just straddling the $21 a share mark here. fox market alert, take a look at the markets. as we toll you, investors turned tail this afternoon when jay powell said what the futures

have already been telling us, a 50 basis point hike in benchmark interest rates is on the table for the may meeting. that's on the table. listen. >> it is appropriate, in my view, to be moving a little more quickly. i also think there's something in the idea of front end loading whatever accommodation one thinks is appropriate -- [inaudible conversations] points in the direction of 50 basis points being on the table. we make these decisions at the meeting, but i would say that 50 basis points will be on the table for the may meeting. liz: we need to look at the intraday charts, we are at the lows of the session. powell's remarks are were released around 1:00 eastern. there's the dow jones industrials, a loss of 358. fresh loss for the s&p, down 65, and for the nasdaq, i'm checking these in realtime, the new low down 287. the fed funds futures are now pricing in a 98 chance of a 50 basis point hike on a may 4 and are bet on the same for the two meetings after that. we've got major developments in

tesla and twitter, can you hear the tesla short sellers rolling over at this hour? look at the stock, it's up 2%. once again, anyone who bet against the ev leader watching as elon musk defies the naysayers. tesla not only beat on the bottom line, it posted record quarterly revenue growth of 87% year-over-year. it also said vehicle production will grow 60% this year. take a look at shares of twitter. twitter flat at the moment, you know, a few minutes ago it was up, and before that it was down. it's having trouble punching back and staying in the green. musk says he now has commitments for $46.5 billion in financing for his bid to buy the social media company. musk tweeting this just moments ago, if our twitter bid succeeds, we will defeat the spam bots or die trying. again, not helping the stock. we should flip it over to netflix, it continues its disaster tour at this hour, down

2%. yesterday after enduring their worst drop since 2004, shares continue now to low and plummet around four-year lows. bill ackman, the hedge fund manager who took a big bet on netflix after the stock dropped last quarter, has now dumped his position at a loss. so we've got all these balls in the air. let's bring in the floor show. trader john corpina, scott bauer and glj research founder gore done johnson who does not like tesla -- gordon johnson. let me start with scott bauer9 and the fed. what do you make of this? we are pretty much close to the lows of the session here. >> yeah. liz, it seems to me jerome powell has thrown the towel in, but his deadlines to -- headlines don't make sense saying that 50 is on the table. we've all known this, not only is 50 on the table for may, but possibly even 75. and when you go beyond the may meeting, and you alluded to this, not only is the market, the cme fed watch tool and futures pricing in a 50-point

hike, there's a 67% probability of a 75-point hike. so, to me, powell did another disservice to everybody today by just using the headline in quotes that 50 basis points is on the table. it would have been, in my opinion, much better served to have put out that 75 is on the table. he may have been concerned about the market reaction which, obviously, we're seeing, you know, a big downdraft the here. st it's not humongous, be i it't compared to where we were prior to him speaking. i be i -- but i think he did a real disservice today. we know that 50 basis points, it's not just on the table, it's already priced in. liz: let us quickly look at the 10-year yield. it was earlier at about 2.94%, come down also slightly, i'm looking at a 2.91% print. john corpina, we've got the fed, tesla, twitter, we've got netflix, certainly. i want you to tackle netflix

though because, you know, the ackman story really is a cautionary tale, is it not? >> it certainly is. but, you know, we saw with netflix and bill was his style. we've seen the before. he goes pretty heavy into a position. what we haven't seen before is him getting out as quickly as he did. i think we're seeing some definite discipline from a trader there. i think he should get some kudos for getting out quickly and also publicizing that he did so. just to get back to scott, i think scott was right, 50 on the table. everything's on the table at this point. the market react in a way because he he added confusion. powell added more confusion to what is going to play out in may. may is right around the corner. we're waiting anxiously for this, and headlines keep dictating this market. we're not really getting the russia-ukraine impact on our markets today. that will come again back to us, but right now it's earnings, it's fed, and it's those individual headlines, it's the tesla, twitter, netflix.

liz: yeah. let me get to tesla and gordon. gordon, i was thinking about this, wall street is littered -- sorry for the language -- but with the corporations of short -- corpses of the short sellers who get bet against tesla are. where do you stand on this as it continues to do well and have a good outlook? >> listen, if you exclude are a mission credit and one-time item in this quarter, it's about a billion dollars of non-operational net income that that you have to take off the $3 billion they reported. and as you look at what they mean with the stretch of what they're trading at, tesla's trading on an annualizeized basis at 150 times earnings in an industry where the average is 6 times. , and liz, keep in mind their unit sales did not grow in q1, and even though he says heir going to grow in q2 -- which, in our opinion, i'm sorry, i think their unit sales are going to be

down significant9ly -- you're talking about a company that's going to go x growth. netflix went x growth. yesterday the stock was down 35%. the reason why elon musk came on the call and said their unit sales are actually going to grow in q2, again, which we think is impossible given their shanghai factory is still shut down, is because he didn't want to see the stock fall. i think there's big problems for this company. they didn't grow in q1, and i think their growth in q2 will be negative. liz: okay. we will check it, and i do need to just say you can't just say that's a lie. it may be wrong, but we don't want to get into accusing publicly-traded companies of lying. gordon, we're watching it closely. tesla still higher, twitter, of course, just barely straddling the line. netflix down. john, scott, great to have you both and, of course, gordon. the semiconductor shortage is still dragging on the automakers, yes, including tesla, because he mentioned supply chain is an issue. but help, as in chips made in

the usa, will soon be on the way. and when i say soon, i mean monday. wolf speed set to open the largest silicon car bite factory. the ceo is going to give you an exclusive look. dow jones industrials down 366 points. call that 367 and dropping, and you've got the s&p lower by 65. "the claman countdown" is just getting started. don't move. ♪ your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates

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liz: as the u.s. semiconductor shortage persists, mainly because the global supply chain still has broken links in other countries, one manufacturer is on the cusp of unveiling a new facility right here at home that could be a game-changer. wolfspeed, formerly known as led maker cree, is set to open the world's largest 900 milli-- 200 millibeeter silicon -- millimeter silicon carbide factory on monday, 5-15% more

effective than regular silicon. joining me now is ceo greg lowe. greg, ahead of the day, thank you for coming on to give our viewers the first look here. let's be clear though, your fab plant up in the mohawk valley, it'll have little to no reliance on asia? can you clarify? >> no. thank you very much for having me, and we're super excited about this fab. and as you mentioned, silicon carbide technology dramatically better, and it's going to have a bunch of huge really strong impacts in the industry. we're billing it in upstate new york, we're super excited about it, kind of home-grown technology. and i think what's really important to know is that this fab is coming online at almost the exact time it's needed. the semiconductor shortage and the supply chain issues that have been written about and spoken about quite a bit are

known by everybody, and this is a new fab coming online. it'll be the world's largest and the world's only 200 millimeter silicon carbide plant. and as you know, it's more efficient. what that translates into in the sense of an electric car, your car will be able to drive 5-15% further range, your car will be are able to be refueled faster, and your car will require fewer batteries. and batteries are the most expensive thing in electric cars. so the net-net, this technology going to extend the range of the car, make refueling a lot faster, and it's going to make the car cost less. liz: well, those are big pluses i hear and really big promises. obviously, gm agreed. you've got the partnership with them to produce these kind -- types of chips for their electric vehicles. what other deals do you have in the works? >> we've announced a number of different deals. we're super excited about the gm deal, we announced that back in

october. obviously, you know, a premier u.s. brand combined with the premier company in silicon carbide also wolf speeld, a u.s.-based company. we're very excited about that, look toward to a great -- forward to a great future. with we've announced deals with other suppliers around the world, dan foss, abb, another of different companies throughout the world. silicon carbide has been a very rapid growth and expansion period right now, and the fact that we took this factory that you can see a picture right behind me from a field of mud two years ago to a working silicon car wild fab is quite amazing -- carbide. liz: that is what, to me, is really fascinating. they always say smaller companies have an advantage in the world because they are more malleable with, quicker to move. you just had intel several months ago announcing that, you

know with, we're going to start building a massive multi-billion dollar plant in ohio. that's years away. these things take a long time. taiwan semi started a year or two ago, and they're not ready. you guys look really smart and on point. you're opening monday. but what about the other all-ev companies like fisker and lucid and tesla? is have you had conversations with them? because, if what you say is true and tease are magnified when it comes to really good quality chips, tell me, you know, what's going on with those companies and deals with them. >> you know, we pretty much have had conversations with all the major car manufacturers and all the new start-ups as well around the world. the appetite for silicon carbide in an electric vehicle is very, very strong, and i would say over the last five years it's gone from an interest in the technology to pretty much anybody who's designing a car right now, an electric car, is pretty much convinced silicon carbide's the way to go.

and with those three factors, the extent of range, the refuel faster and it costs less, it's kind of a compelling, the it's a compelling reason. liz: got it. well, ticker symbol is wolf now, no longer cree. it's wolfspeed, and, gregg, good luck to you and the team. thank you so much. gregg lowe. disney versus florida next in pop stocks, and disney is not popping. we'll show you. ♪ ♪

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liz: fox business alert, take a look at dow component disney. disney world not the most magical place on earth today, the stock is falling just under 2% after the florida legislature passed a bill that would dissolve its special governing power in the state. the bill now goes to the desk of governor ron desantis, and he is expected to sign it. he has been very unhappy with disney, of course. the move would have huge tax

implications for the company can has currently gained special status for years. and basically it lets the company act with the same authority and responsibility as a county government. colorado's governor, though, jumping right in, inviting disney to their state tweeting, quote: florida's authoritarian socialist attacks on the private sector are driving businesses away. in fact, he says, in colorado we don't meddle in affairs of companies like disney or twitter. shares of dow inc., let's take a look at those, are moving upward by 2.7% a after the chemical company posted quarterly earnings of 2.34 -- sorry. $2.34 a share, that that's 32 cents higher than analyst estimates. the company posted eps of $1.36 in the first quarter of last year with, so big improvement. this is the fourth quarter in a row they have surpassed earnings

estimates. airline stocks gaining altitude after both american and united airlines had great forecasts. they are turning a profit by the end of this year, they say. now, american airlines projects a profit in the next quarter as stock bookings help the company cover increased fuel costs. shares for american up 4.5%. now, it did lose about $1.6 billion in revenue this quarter, but meanwhile, united airlines shares jumping about 9.5%. the airline projects turning a profit by the end of the year. united came in with a $14 billion loss in -- 1.4 billion loss in first quarter, delta also moving higher. delta as not reported yet but catching a little breeze here: and investors with shares of freeport-mcmoran are not striking gold or copper at this hour as it drops 9. the miner reporting first quarter profit and revenue that beat, but the company did have

to trim its outlook for quarterly copper sales even with first quarter sales coming in 6% higher than january guidance. russia's war in ukraine hitting the clip to verse with new sanctions and now one of the biggest trading exchanges, bye nance, is pulling out of russia. the ceo of crypto security company fire blocks is here live to tell us how the conflict is now changing the face of crypto. of closing bell, 28 minutes away. the dow is still lagging, but now by 296 points. we do have the s&p down 55, off the lows of the session. nasdaq down 247. we are coming right back. ♪ ♪

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u.s. have imposed crypto sanctions against moscow for its war on ukraine. and the world's youngest crypto billionaire, sam bankman if fried, who's been on the program, is apparently in talks with goldman sachs to make a possible alliance license to take the exchange public. also discussed collaborating to step up the bank's cryptocurrency presence. so with all of this news, bitcoin has made a move back up above $41,000, still down slightly today. etherium's back above 3,000, litecoin lower by about 2.25%. xrp is now at 75 cents. joining me now let's bring in the ceo of fireblocks, a digital asset infrastructure provider. they do have the largest valuation in the world in that realm at $8 billion. you guys are very much into security and all that, but let's just get right to this news about binance pulling out of

russia. you know, to me, now you have the e.u. and the united states sanctioning crypto, coming out of russia. i mean, it's almost an acknowledgment that crypto is very much a thing, you know? everybody tried to act like it was fringe if, and this only shows that it on a global scale matters. >> yeah, i think so. i think at the beginning there was some remarks that crypto is meaningless for this conflict, but i think what we've seen throughout this conflict is crypto can service as both -- like donations to ukraine which is a very powerful tool and used also inside of ukraine in areas where you have no access to the internet or you don't have is access to credit card processing. there are concerns that it's being used by the russians to a certain degree for, you know, avoiding the sanctions that are being imposed. and i think that while initially

a lot of those exchanges took the stance that they're not going to basically cut off russia for having access to them, we're starting to see that this is changing. liz: well, yeah. and, you know, you had jamie dimon a while back saying it was worthless are. if it were worthless, the european union9 and the united states would not take the time to shut it down coming out of russia. so i think that that's an important point to make. let's talk about the security implications of everything that's been going on. also, you know, you've got goldman sachs, obviously, interested, talking about launching a, who knows? if you know, another part of a cryptocurrency arm. talk to me about how you guys play into all of this by making it all secure, because that has been the biggest fear factor, that people suddenly would see hacked accounts. i mean, north korea just hacked. you know, give us some insight into that. >> yeah. so i think that the, one of the

most interesting things about cryptocurrency that that, you know, the internet of money and you now are totally exposed to some of the threats that happens on the internet especially if your wallet is hacked, someone could get inside of your wallet, they could essentially withdraw those funds. and, unfortunately, there is no recourse, right? because those transactions happen instantaneously, and there's no one -- you cannot call the bank and basically ask them to give the money back. so the security aspect of that is critical. the good thing is what we've seen in the last three or four yearses with help of inter, infrastructure -- with the rep of infrastructure providers like us, private security are being eliminated and we're working with the most, you know, the biggest fin-tech providers, some of the biggest banks to basically lay ier in the structure for them to eventually provide those services. liz: you just teamed up with

fidelity national services last week. what are you doing for them? >> yeah. so it is a basically one of our, one of the arms where our investors from very early stages of the company, and we are basically working with them, with fis, we're basically working with fis to lay out the infrastructure for a large section of the financial institutions. so they're servicing over 6 of ,000 financial institutions that are -- 6,000 financial institutions that are using their core wanging -- banking platte if form. and a lot of the banks, asset managers, cfos that are using their -- for treasury will be able to access in a secure way and start using it, you know, not only for deploying value, but also for transaction. liz: mike michael.

8 billion valuation, is that a correct number there give or take for you guys? >> that was our last number from back in january. liz: so, obviously question -- obvious question, when are you guys going to go public? i can ask. [laughter] >> yeah, no, i think we have some time. we're currently growing at, you know, last year we grew 500%, this year we'll probably grow 300%, so i think we still have some time to stay private. but definitely the public market is something that we are looking into in the near future. liz: okay. come back again, michael. thank you. >> thank you so much. liz: we've got president joe biden on his way right now to the great northwest after rolling out his plan for more aid for ukraine and a new refugee plan to bring some of them here. we are headed for the white house for all the details. and one woman's life nearly destroy by alcohol. her mother was killed by a drunk driver. but instead of running away from something that had caused her so

much pain, she ran towards it, and she made it her mission to promote change in the alcohol industry by becoming the ceo of per know ricard north america, maker of absolut. ann music mukherjee is -- huge herry is the ceo. this week's edition of everyone talks to liz. it's available on apple, google, spotify, anywhere you listen. and even by doing this, she's got return on investment for per knolled ricard. we're coming back, dow down 356 right now. ♪ this is what real food looks like fresh real meat and veggies. the food dogs where built to eat. the farmer's dog is changing the way we feed our pets. visit tryfarmersdog.com to see your dogs personalized meal plan. you're a one-man stitchwork master. but your staffing plan needs to go up a size.

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♪ ♪ liz: we've got this breaking news, president joe biden is set to arrive in portland, oregon, any moment now, on his way to

continue his infrastructure tour with his first visit to the pacific northwest. his remarks at portland international airport is expected to focus on the 400 bridgeses and 1300 miles of highway built in the state using the infrastructure funds that passed in the bill this past fall. the speech comes on a very busy day for the president following earlier remarkings at the u.s. will send an additional $800 million in military assistance to ukraine as russia's onslaught enters what president biden calls a critical window. let's get to edward lawrence live at the white house. do you think they're going to focus on what's happening in the infrastructure plan or reporters are going to push him on what's going on in ukraine? >> reporter: i think you're going to see both of those things happen. as you were speak, air force one did touch down in portland, oregon, so the president is there. he's going to highlight -- he wants to highlight the infrastructure project through the bipartisan infrastructure plan that hissed administration could get passed. the president in portland, oregon, he's at the air national

guard base that's on the ground of the airport in portland. and the president -- that bill has set aside $15 billion for airport-relate projects. the president will talk about how 8 million jobs have come back to the work force as he has been in office a, also how his administration is finalizing mileage standards for cars and trucks of the future, plus how he's frozen student loan paybacks through august. now, before the president left the white house, he announced a new ukrainian streamlined refugee program. starting monday, a dhs sponsor can apply and bring a ukrainian citizen here to the u.s., and he also announced $800 million in new military assistance to ukraine. >> our allies and partners are moving as fast as possible to continue to provide ukraine the weapons and equipment they need. if. >> reporter: so the treasury secretary also saying an additional $500 million will be there for meet governmental assistance for ukraine.

that's salaries and such to prop up the governance. the president now saying that the ukrainian president will get everything that he needs military wise in order to fight off the russians. some say a little bit later but the u.s. is in it full force. the president says the equipment will get there to the front lines where it needs to go. liz: edward lawrence, thank you. check the dow, we are now at session lows, down 434 points, real erosion here. well, some economists are still throwing around the dreaded r-word even as, of course, jay powell says, you know what? we've got to keep bringing up rates. but today's countdown closer say ises he's got some picks to boost your portfolio even if a recession is on the heinz. closing bell, 10 minutes away -- is on the horizon. we're coming right back. ♪ ♪ throughout history i've observed markets shaped by the intentional and unforeseeable. for investors who can navigate this landscape,

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moves. i'm in the blink of an eye, we had the dow down 436 points. very quickly scaled back to the loss of 312 points. you're seeing very big volatility here. vix is up 11%. look at snap shares. down hitting lows of the past month ahead of the social media company's quarterly report after the bell. they're expected to post one penny in earnings. the stock is on track, as i said for its lowest close in more than a month. analysts expect the owner of the app, snapchat to post earnings per share of you know, that is why really hard to say, one cent? we're looking at the stock down 4% at the moment. so why this selloff? we had been higher or the dow, the s&p and the nasdaq. they were in the green earlier but it was fed chair jerome powell who came out about 2 hours and 45 minutes ago saying hopes to bring down high inflation without causing a

recession and yet he will seriously consider 50 basis point rate hike as soon as the may 4th meeting. today's countdown closer says he has three stocks picks give the dreaded "r" word a run for its money even if powell fails to thwart a recession. we have cornerstone wealth management partner jeff carbone. how do you know these things can dodge a recession if one happens? >> well, for us, again as you mentioned the headwinds, right? there is a lot of headwinds. the fed has been big one. we have earnings, we have got inflation pressure. with the slowing economy, inflationary pressure we're remaining defensive with our positioning. sectors, like utilities, health care, real estate, or real estate, consumer staples, where we think we'll kind of weather the volatility that we're seeing. as we can see, volatility is not going away and it is on both

sides up and down especially today. so a couple of positions we like a company like broadcom a good, high-quality company, strong cash flow, producer, good solid dividend, close to 3%, high margins, best in class type of position. broad come or avgo in the technology space is one we believe can weather through the ups and downs here. i mentioned real estate. we do like, more of the cell towers. we know real estate has gone bonkers especially with our homes, et cetera, but a company like sba communications or sb ca, is cell phone towers, long-term secular theme. we also have run for 5g continuing. investment there. a company like sb ac could weather this.

health care, good solid health care, best in class, best pharma company is eli lilly, lly. i think lily will perform well, even though next 10 years they will have some patents rolling off, they have a robust pipeline. littlely should be strong position to own with research. liz: jeff, i'm looking at very volatile final four, three minutes of trade here, we're down 371 points for the dow jones industrials. it had been looking up 331. you're looking at a 600 plus swing. when you look into that, you pick broadcom, broadcom with a dividend of 2%. you invoke the words cash and flow, it looks like a real winner here. do you anticipate a recession? >> well, again, i guess we'll say it is imminent at some point, right in the future? liz: okay. >> we don't see it right now,

latter part of 2023, maybe early 24, is what we're seeing in our data points. as we can see with fed chairman powell today, just that indication of a half a percent rate hike. you know, now if we're looking nine rate hikes in 2022 from the last meeting, puts us at 2 1/2% fed funds rate. liz: yeah. >> that is pushing it too far and we could, we may see recession sooner if we push, we have a policy mistake going too quick, too fast but again in our view maybe latter part of 2023 when we would see recessionary signs. liz: i think you're right when it is hard to anticipate all of the headline risk. look at disney. who would have thought one year ago disney would have a horrible year, down 32% over the past year. down another 2 1/2% today as florida governor desantis is going to sign the bill that would eliminate disney's

long-time special status, what, since 1969 for disney world. you couldn't have anticipated that. certainly 10 months ago, who even knows. as you look what is going on here, still a believer in specific equities, correct? >> it is stock selection time, right? this is not a broad run back up. the game has changed for 2022. the, call five or 10-year bull run outside of covid is definitely changed the game. interest rates rising. the fed coming in strong, inflation, we haven't seen these inflationary pressure, war, you name it, we've got the headwinds. you mentioned disney. look at netflix yesterday. i mean the reopening trade is kind of waning. there is just a lot going on. it's a time to really sit back, watch, be defensive in your positioning. don't, average in if you're

moving in with some cash. good time to be patient with your portfolio at this point. liz: jeff, great to have you, especially a day like this, giving us some idea. you guys we're not at lows of the session. [closing bell rings] loss of 368 points for the dow. nasdaq down 270. dow two day winning streak, with fed chair powell -- "kudlow" is next. larry: welcome to kudlow, i'm larry kudlow. reportedly joe biden recently told former president barack obama that he is going to run for re-election. it's a bravado point but frankly i don't see how he can possibly do it. right now polls are suggesting only about a third of the country supports him. virtually his entire agenda to transport america has been defeated. catastroph