what was done 3,990 times in his career, just block them. liz claman over to you, looks like this market hit a little bit of heartbreak hill. let's see what happens in the last hour. liz: this is exactly what we were wondering would happen, charles, right? we started off the day with tech investors peaking out from behind their portfolios after yesterday's nasdaq route. the tech-heavy index is erasing some of yesterday's 4% loss which by the way was the worst day since september 2020 for the nasdaq, right now we do have green on the screen, the dow is up 180 points, s&p up 24, the nasdaq up 44, but now up just a third of a percent. we are watching this extraordinarily closely. we're gearing up for facebook parent meta it is the next tech titan up at bat, our media panel is here to tell whether mark zuckerberg shifts to the metaverse will boost its growth or it's slowing facebook users could spell more headaches for

tech investors and top media analysts is going to be here, craig mooffet talking about why netflix isn't coming back in the markets and warner brothers discovery and all that drama so why are we looking at chris pratt? one company has a new clean way to cure the headaches that the market is probably giving you, big investors from chris pratt to donald glover, they're in on this , but the biggest pat ron now of this new company, the world's largest retailer the genexa ceo is here in a fox business exclusive as his tylenol challenger, without the extras, hits walmart shelves let's begin with a fox market alert. so we bring back to what i was just talking about with charles. the number one question with 59 minutes left to trade, will these gains hold in the final hour, with the sting of yesterday's sell-off still fresh in investors minds we are

watching the bulls lured out by the scent of opportunity. the dow managed to clawback 194 of the 809 points lost tuesday. the s&p, which yesterday saw 120 points sliced off, reclaiming, you know, enough here about 23 points but not enough to erase what happened yesterday. still, it's on track for the worst month since 2020 but even with today's gain for the nasdaq of 48 points, and falling, what happened to that? my god, it just disappeared. we had a bigger gain than that, the tech heavy index is on pace for its worst month since october of 2008. there is some good here, the good, microsoft, the dow component is charging higher at the moment up by about 6%, second-only to visa which is jumping 7%, looking like the safe haven in the tech storm thanks to its proof it beat and powerful revenue forecast, driven by its cloud computing business, and visa, the payments processor giant predicts that even with soaring inflation, it

expects people to continue to spend, revenue will speed past pre-pandemic levels. both of these names are near the top of the s&p. let me get to hands down boeing. this is a mess. the planemaker down 8.6% that's not even the worst of the session here, this is the second day in a row of losses, so boeing unlike a lot of these other stocks has not been able to at least turnaround a bit, since monday tosses close it has seen some 13 billion in market valuation vaporized. the ceo dave calhoun said that the company missed q 1 profits by a mile and also had a surprise revenue decline, wall street doesn't like those kinds of surprises and it's pushing back delivery of its 777x passenger jet by a year to 2025. so boeing right now, down $14.79 to $152. no comeback for alphabet easier. the google parent is also falling here by about 3.7%. languishing close to the bottom

of the s&p, actually even worse than twitter right now. the search leader missed on revenue and while wall street is chopping price targets right and left, many analysts are still maintaining their buy or overweight rating on alphabet. now, flip it over to the majors once again they are all comfortably in the green, we don't have the russel on there but the russel is also, well it just turned negative. which is worrisome, so we had it up. it is now down, will the others follow? let's just watch it here, but there are analysts, smart ones, who say don't get too comfortable with this green on the screen. tom essay is an analyst of the markets and he said in his report this morning, he comes out every everyday with it, the big volatile ones aren't behind us yet, in fact, what makes it stop, he asks? okay, number one, china reverses its zero-covid policy, russia and ukraine declare a cease-fire or truce, the fed backs off its

hawkish rhetoric and stops raising rates. unfortunately, tom goes on to say, none of those events is likely near term. sevens report research tom essay joining us along with u.s. bank asset management group chief investment officer eric friedman , who last time he was on in february made some winning picks that look very smart today. tom i want to begin with you. are we or not at the lows of the year or just the first half >> hi liz thanks very much for having me on. i don't think so. i don't think so because frankly , this market is facing a lot of headwinds and every month that goes by this year the headwinds are getting stronger, we knew it was going to be a hard year to begin with, we didn't know we were going to have a war in ukraine and all of the economic and inflationary headwinds that comes with, so i think that no, unfortunately, we are not at the lows of the year or even the first half. liz: okay, but when you also ask in this , how bad could it get? all right, our investor audience is wondering yesterday looked

bad. we have 800 point loss on the dow, we saw what happened with the nasdaq, you know, the ugliest day certainly in many many years, so how bad does it get , tom? >> until we get to really a core valuation, we could drop another 10% in the s&p 500 and probably more than that in the nasdaq, because frankly, we are facing a hawkish fed like we haven't seen in decades and we are facing slowing global growth now, that can change. it's not a pre-defined outcome but we all have to realize that it can go down another 10% before really we're talking about core value. liz: okay, now let me get to eric. you guys have about 295 billion in assets over there. pretty unbelievable and i'm interested because in february, you said we're not ready to get back into tech. that looks really you said at the time, you really liked energy, infrastructure, utilit ies, those have outperformed definitely. are you still with that core group? >> liz, we are.

we also think that the bias is probably a little bit lower than higher, it's called the next couple of months, and the reasons for that, tom does very thoughtful research, certainly to think he's nailed it. other considerations be just the considerations on higher borrowing costs, so we do think that each of those segments, energy is about supply, there is just not been enough investment to define new oil. clearly, the human tragedy in russia and ukraine has exacerbated that fact, but that's something we still think has some upside. we also think utilities, regulated businesses that are still churning out some pretty interesting non-economically sensitive cash flows and finally , infrastructure. as we start to see some reopening activity, which we're seeing, the infrastructure has those sorts of investing options will do well so we'll stick with those for now, it's still too early to get involved in tech. liz: tom, i think eric is right, when it comes to looking at what definitely looks almost like a little bit of teflon for people 's portfolios, but so

many of the tech names, the momentum names have come down 10, 15, 50%. i mean, and you look at netflix, for example, and you look at some of these other names and tesla got hammered yesterday. it's now below $900 a share moving higher at the moment, but listen, the high of the year, we were looking at it was about 1,243 a share and people were saying darn, i missed it. well it's a lot cheaper, is there nothing in the space you like? >> there is in the tech space, but not in the high momentum names like that. i like the boring tech right? cisco, oracle, microsoft, who had a good earnings print. the high growth tech we have to remember, a lot of these companies are facing competition like they never seen. look at facebook and report after the bell. it's all about tik tok, right? tik tok is eroding their client base. same thing with tesla. the oem's are coming after them big time in ev, so i don't think they are cheap enough yet especially if we consider the macro back drop.

liz: meta down 4.6% right now, eric a quick thought as we leave what do you anticipate is going to happen during the summer months? is this going to be a sell in may and go away type situation? >> i think there will be some downside risk heading to the early part of summer, liz. we do think that markets tend to overreact and some of the fundamental underpinnings that we think are still out there in terms of at some point global growth will resume, so we get involved. we think that overselling if we saw it down 10% type of number which is certainly possible that's likely an opportunity for us to get more aggressive but again, we can be patient here. liz: patience, not a virtue that a lot of investors have but they should which is exactly what warren buffett always says. eric, tom, great to have you thank you very much. we're nine minutes past the hour , 51 minutes before the closing bell rings, fox business alert when the second- biggest global oil producer invests in a certain electric vehicle, investors go into overdrive, over shares of

that company and it is lucid. lucid right now up 3% at this hour, after the luxury ev maker announced saudi arabia is going to purchase up to 100,000 of these vehicles, and has agreed to invest in lucid air and other models manufactured at a future saudi arabia facility. keep in mind, the price begins at $69,000 a piece. i saw my first lucid on the road today, on the west side highway. elsewhere in ev world general motors ceo mary bara announcing her compensation is going to be tied to how many ev's general motors sells. this as gm beat first quarter profit estimates and raised full year guidance the stock is up today about 1.5% but down about 33% year-to-date amid rising interest rate and supply chain shortages. no easy segway here so i'll just go to it, chipotle. chipotle customers willing to pay more

for those so frito bowls, the mexican restaurant chain said it was able to beat earnings estimates, same-store sales rose 9% in the first quarter which is particularly impressive considering beef and avocado prices increased by 100 basis points from the year prior chipotle up two and one-third percent right now. toyland takeover talks have quite frankly the entire toy space moving. we've got mattel moving higher by 11% according to the wall street journal, the toymaker held discussions with private equity firms a pal lower class global, regarding a possible transaction. mattel has worked very hard on its transformation but the stock is flat year-over-year. mattel is set to report earnings after the bell today. hasbro also on the move up about 2.8% as an activist investor attempts to shake up the board. alta fox is trying to replace the toymaker's chairman and two

directors. alta fox is also trying to push hasbro to spin-off that unit that produces the very popular game dungeons and dragons. so, with all the market volatility giving you a split ting headache, you need to stick around for our next segment. a startup in the clean medicine space is taking on tylenol with a clean pain reliever backed by a-list celebrities and it just landed a coveted spot on walmart's shelves. the ceo of genexa, a startup is here next in a fox business exclusive on what other meds in your cabinet, he's ready to replace. closing bell 48 minutes away, we've got the dow jones industrials up about 147 points, high of the session a gain of 457. we're still up but off, "clayman countdown" is coming right back. don't move.

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liz: vaccine makers pfizer and b iontech submitted an emergency request to the fda to authorize covid booster shots for children ages 5-11. pfizer and biontech are part

partners said their booster raised omicron antibodies by 36 times in that age-group, you have pfizer popping by about one and one-third percent, biontech is down 1.8% but yesterday, president biden's chief medical advisor dr. fauci shared a positive outlook on the current state of the coronavirus pandemic in the u.s. , saying on pbs news hour, the country is out of the pandemic phase, and is making a transition to an endemic disease, right? the flu just keeps coming back. now while the world continues to reopen and learn to live with this virus, a company called gen exa is launching the first-ever over-the-counter clean acetaminophen pain relief medicine for adults. the all-organic health brand is partnered exclusively with walmart, the biggest of the big, for the rolfeout of the tylenol competitor. it creates the same over-the-counter meds on the market but minus the artificial fillers things

like cornstarch and color, the dies in some of these. it has been awarded the number one business in wellness for 2022 by fast company and is backed by a-list celebrity investors like chris pratt, donald glover, forget all that. we want to hear the story joining me in a fox business exclusive, genexa co-founder and ceo david johnson. okay, i mean, you're one gutsy guy taking on johnson & johnson and me and i'll tell you why me. you know, i had a horrific headache the other night and i took two tylenol and it was gone how are you going to convince me that that product is what i should be taking instead? >> it's a great question, liz thanks for having me. liz: sure. >> for us it's about not taking on j & j as much as they are our competitor and others are our competitor but for us it's about really removing the synthetic fillers and keeping the same efficacious active ingredients that you know and trust, so you can take our product, know and trust it but you don't have to take it with artificial fillers and synthetic binders. liz: so synthetic binders,

artificial fillers i was looking at some of the ingredients in some of these medicines that i have in my cabinet. i was like why is there cornstarch in here, sugar in here, so the problem becomes when i look at homeopathic stuff , it doesn't work for me sometimes and it'll take turmeri c instead of tylenol and that doesn't work for me. your product was accepted by walmart because it actually has the exact same amount of acetaminophen that tylenol does? >> that's right so acetaminophen is in there at the same amount but what we do is we focus on removing those ingredients that you just mentioned, and really focusing on replacing them with clean ingredients, so we removed the titanium dioxide and removed the red and hard to digest sugars and replace it with better ingredients you can also understand like rice brand extractor agave. liz: it's amazing to me because again, you've got a lot of

people listening right now who are very stuck with the excedri n of the world, the tylenol, cold medicines out there, but it's not just tylenol you are working on things for meds for leg cramps and the common cold, stress. >> for us, liz, it's about creating a clean option for consumers, right? and bringing that to the masses and with walmart's partnership we've been able to put in the backyard of every consumer. liz: this is what gets me, walmart's partnership. you had to go to bent onville, arkansas just like everybody who tries to get shelf space at walmart and you pitched to walmart, they rarely say yes. you have to jump through hoops to do that. >> well no one is doing what we're doing is and it's not only disruptive to the category but it's what the consumer wants, now more than ever with covid you have consumers that are more aware of what they are putting in their bodies and more aware of what they are eating and their health in general so for us, it was, you know,

walmart sees this , they see it as the future of the consumer, they see the consumer is shift ing and is more aware of their labels and what they're reading and what they want to take so this has been, it's in something they have been excited about from the start and really leaned in and they are behind us liz: well i find any start up that disrupts an industry fascinating, and when you get on the shelf at walmart, that's pretty major because you think about the big boys in the business, and they do not take kindly. i'm talking about in any industry. we watched airbnb and the hotel industry and the lobbyists try to crush airbnb because they saw them stepping on their air hose. what's next? what else are you pitching to walmart? >> yeah, so we're pitching a lot. we're going to take on the category leaders in this industry. today is a big day for the industry. it's not only a big day for gen exa, but also a big day for people, people now have a choice to choose a cleaner option when they want to address

their headache or pain and fever and for us we're not stopping we're continuing there's many other category leaders that we know of that we're going to continue to research and develop and move on liz: david as we move on is it expensive, how much is a bottle? >> it's about 10% in the category leader. liz: okay more than the category leader and you can see it on walmart shelves starting today. congratulations and thank you for coming here first to tell us here at the "clayman countdown." >> any time, liz, thanks for having me. liz: david johnson the company is called genexa. high jet fuel prices not the only problem airlines are facing as post-pandemic travel booms. we've sent jeff flock live to the city of brotherly love as major u.s. carriers scramble to fix their flights amid a growing pilot shortage. closing bell 38 minutes away dow jones industrial still holding on to about 130 points of gains, s&p is up 14, but the nasdaq has widdled its gains now to just seven point, stay tuned. we're watching this closely.

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liz: breaking news, bill wang and chief financial officer patrick hallig an have just plead ed not guilty to all charges in u.s. court, they were both arrested earlier today, but wang is now released on a $100 million bond secured by $ 5 million cash bail, and two properties. u.s. judge ordered that arkagos was released on bail, charged him of orchestrat ing a fraudulent scheme using his own wealth to result in billions of dollars that ended up in losses saying that wang and the firm propped up a $36 billion house of cards by engaging in a constant cycle of manipulative trading, where they then lied to banks in order to obtain additional loans and money, and then used that capacity to engage in still more

manipulative training, so at the moment, they have both been released. we are watching that story very closely, the labor shortage continues to affect industries across the spectrum including aviation. major airlines could be forced to trim their summer flight schedules in fact jetblue is already doing it, as the ongoing pilot shortage threatens the busy summer travel season. the current forced retirement age for pilots in the u.s. is 65 years old but now industry insiders say that the u.s. could be in need of 14, 500 new pilots every year for the next decade to fill that gap. jeff flock is at philadelphia international airport with more on i guess, jeff, how the airlines are grappling with this major human resource problem. reporter: as you point out a lot of industries do have a problem in that way but yeah, the airlines taking multiple steps. here is a good one you maybe haven't heard. here in philadelphia, american wants to begin serving atlantic city airport in new jersey. well they don't fly there, so what they are going to do this summer is begin to fly

people from all around the country to philadelphia and then put them on a bus for the last miles to the atlantic city airport instead of flying a plane there just one of the things that's happening as the result of this pilot shortage which united ceo scott kirby says is very very real. i quote him now and he said, there simply aren't enough pilot s now. at least not for the next five- plus years, and as you point out, bureau of labor statistics, the government essentially agrees with that need for between 14 and 15,000 pilots to makeup for those who are retiring, some of them forced to retire because of that 65 year mandatory retirement age , and the folks that watch the airlines say there's nothing the airlines could do about this if they don't have enough pilots they have to cut service. >> and the airlines can operate what they can and can't they just aren't going to fly and what we're looking now is in the fourth quarter there's going to be some significant cutbacks

in capacity, simply because they don't have the resources to fly the airplane. reporter: ands you report, liz, jetblue already in on the cut backs between eight and 10%, they say, spirit also cutting between 5% and 6% this summer and united says that its regional partners, the smaller carriers that funnel people into their hubs, they are going to ground 150 planes this summer because they simply don't have the pilots to fly them and what does this all mean for you and me? well it means more competition for those seats, probably more money to the pilots, and along with jet fuel costs to us, probably higher airfares. liz? liz: we need pilots. you know, there's great pilot schools across our nation. reporter: this isn't working out for me anyway i'm ready to fly, let's go. liz: amazing and by the way warren buffett actually owns a flight training company, yes, we're headed to the airport for

warren buffett, although we'll be traveling commercial instead of private. we should look at private flight stocks today we've got blade moving higher by a third of a percent, wheels up down a fraction of a percent here, berkshire hathaway the parent of netjets as well as a flight training company, that's moving slightly higher, still below $500,000 a share, we are heading as i said to omaha, nebraska to spend the weekend with warren at the berkshire hathaway annual shareholder meeting, we will be live from the floor of the chi health center arena friday, i'll be live blogging, doing tik tok lives throughout the day on saturday but the show begins friday. we are live here on fox business , right from the floor of the arena there, 3:00 p.m. eastern, you have to stay tuned it's warren buffett's woodstock of capitalism and we'll be speaking to a lot of warren buffett investors, and of course, people who manage his companies that he owns. all right, meta melting 46% off its stock price during the april tech as mark zuckerberg pushes

the transition to the metaverse whether investors like it or not at the moment. our top tech panel up next to tell us what specifically you have to watch for as the parent company of facebook gets set to report earnings just after the closing bell and by the way apple and amazon on meta's heels tomorrow closing bell ringing in 28 minutes, the dow still up 164 , the s&p up 19, the nasdaq up 23. we're coming right back. as a struggling actor, i need all the breaks that i can get. at liberty butchemel— cut. liberty biberty— cut. liberty mutual customizes your car insurance so you only pay for whatchya... line? need. action. cut. you can't say that. [phone rings] sorry. is this where they're gonna put the statue of liberty? liberty... are we married to mutual? cut.

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liz: folks we are watching meta shares very closely of course this is facebook fb the parent of facebook, and around 1:00, the stock was down about 1%. right now we're seeing a bit of a gap down to about 4% lower as we run up to meta's earnings report after the bell. investors are watching these

results very closely particularly zeroing in on ad growth considering apple's app store privacy rules could still have a negative effect. the report comes on the heels of a whirl wind tech-led sell-off that we saw yesterday that sent the nasdaq down to its lowest level since september of 2020, and look at the nasdaq 100 tech index. it fell 3% since monday's close, and as we look now, it's down about 4% at the moment during a big week for tech we've got amazon, twitter, and apple releasing reports tomorrow. let's talk tech joining me now president and chief analyst at tech analysis research, barbara donald and oppenheimer chief investment strategist john stals is. you've got to tell me exactly what specifically you're looking for from meta earnings? >> well look, you exactly nailed it, liz, it's all about advertising earnings and we already saw a few warnings from snap, there are questions about what apple's changes have continued to do to facebook ads,

and look, the metaverse version of meta is still years away, right? they are silling more occulous headsets but it's a tiny tiny market and we aren't going to see dramatic growth for quite sometime so not only is is that short-term concern there, there's that longer term concern of where is this company really headed, because the metaverse is not ready yet. liz: yeah, yeah, i mean, he will either look like a genius or why did he push for these avata rs and we talked a lot about it when he launched it using this video on your screen, and it seemed interesting and exciting, but you know, at a time where people are just getting out from covid they want to see real people in the real-world. i did find it interesting, but as you look at this , yesterday we had mark mahaney on of evercore, he calls facebook the leading social media asset in the world and he says he love s it long term. he basically said that he knows they are going to have a problem

with the growing revenue, but that alone they feel is going to be a $10 billion hit this year, facebook has said that, yet he still believes in facebook and meta. what do you say to that? >> you know, again, i have serious doubts. zuckerberg has made a point to say they are really focusing towards this notion that the metaverse is going to be a very real thing and an important part of people's lives, and they're building new products and services based around that concept. i just don't really see that happening, and it's the traditional facebook stuff that's going to keep them afloat and even there they are seeing a lot of challenges obviously with what's happening with twitter. actually linkedin did very well for microsoft yesterday as part of their earnings. it's not as , you know, sexy and exciting, obviously but you still have competition in the social media space and with what musk may or may not do with twitter is obviously going to change the whole dynamic of how people think about social

media and finally to your point about people coming out of the pandemic. look, they want to be back in- person, and talking to people , and interacting with people that way and i think that speaks somewhat from all these digital services. liz: can we just point out, john , the nasdaq just turned negative, okay? did we warn people at the top of this hour? did we? nasdaq is down about 7 points russel is in the red that was the first one to go. obviously, this tech-led sell-off is not over. i mean, we do know that there's some concern there, but when you look toward an apple or an amazon these are great companies that maybe are off their highs. how do you at oppenheimer, look at this? >> well the way we look at it, liz, is we consider are you a trader or are you an intermediate to longer term investor? for the trader, the question is what have you done for me lately , what's q 1 reporting look like, what's your guidance moving forward. on the other hand for an

investor, this maybe an opportunity to consider space s within technology that have been oversold. babies that get thrown out with the bathwater on near term concern. it's fear, greed and leverage for intermediate to long term investors there's always an element of fear and greed, but it's the necessity to invest for things in the future, looking at longer term trends. i don't mean 100 years from now, but i mean, 12 month, 18 months out, that kind of thing. related to advertising, in an environment like this , with the inflation going where it is, concerns by small business about where we're headed in the economy. you're going to see advertising suffering, it's natural, but you have to consider in many of the cases of these companies, if it's a streaming company, what you're looking at is you're saying wow, content is expensive and there's a lot of deep pockets that are bidding for

content. liz: except that i would say, i would say netflix, people are still paying for netflix, they've got a big slate coming out with great movies starting from may until about july. it's down another 5%. warner brothers discovery is a little bit different. it is just having a difficult time. it's now below $19 a share, warner brothers discovery down another 5%. this has been a very messy picture, gentlemen we have so much breaking news we've got to run but bob, john, lovely to have you. 18 minutes away from as we said meta earnings. stay tuned. online trading platform robinhood taking extreme measure s to cut costs, details on robinhood chopping headcount straight ahead, and how do you go from welding in your father's metal shop at age 12 to billionaire ceo to state department official and now, 2022 nobel peace prize nominee?

well keith crock has done it and he shares his incredible success story, this is a guy who became the youngest vice president at general motors when he was in his 20s and then goes to silicon valley and ran docusign, he's unbelievable, but now nobel peace prize nominee. it's his success story that we drop today on everyone talks to liz, my podcast tune in and check it out, apple, google, spotify wherever you get your podcast 17 minutes from the closing bell, nasdaq down 6 points at the moment, s&p cling ing to 10 points of gains, the dow up 104. 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.

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liz: shares of robinhood are just off the all-time lows they hit earlier today.

the all-time low, everybody, is $9.38 we're at $9.56 right now after the online brokerage company and favorite trading platform of the meme stock crowd announced yesterday after the bell it plans to lay off 9% of its workforce. the company said it's cutting duplicate roles that were added as the company rapidly expanded its workforce to 3,800 employees during the first year of the pandemic, when a lot of people were sitting around, nothing to do but trade with free commissions. prior to the news of the impending layautographs, cathie wood's ark investment bought more than 89 6,000 shares of the stock last thursday and friday, checking robinhood shares right now well she's underwater obviously down about 4.6%, but year-to-date we're down about 46%. it had at one point touched an all-time high of $85 a share. the securities and exchange commission investigation into the block trading practices of big invest banks now ramping up,

sources telling fox business the enforcement agency now scrutinizing u.s. banking giants morgan stanley and goldman sachs in particular. charlie gasparino is here. they always launch investigation s what's going on now? charlie: well this is reaching a stage where they're about to charge. at least that's what i'm hearing from legal sources, and my wall street contacts and here is what we know. what is a block trade? a block trade is a huge amount of stock that a wall street firm goes out and sells to other players. when it does that, it usually has to figure out a way to tell people, are you interested in buying in a way that doesn't suggest that you're getting inside information that you can short the stock. it's not that easy, trust me on this. the biggest player in this is morgan stanley, the second biggest player is goldman sachs. there are others that are involved. this is what we understand the justice department is looking at but this is mainly the sec. i don't think there's a criminal

case here at least i'm hearing this is mainly just the sec a civil case. they are looking a the whether morgan stanley may have tipped off its top clients to these trades, hedge funds. tipping them off saying essentially, you know, this is coming and do what you want in your positions, and then these hedge funds would short the stock, because knowing there's going to be a huge block of stock that would depress the price. we're understanding that this investigation is in the final stages. we understand, from these sources, that morgan stanley is the likely firm to get nailed at least first. what sources are telling us is that they expect morgan stanley to reach a civil settlement with the sec and pay a fine, maybe even have a monitor over its block trading practices. we should point out that morgan stanley in the past has put on, put its block trading i think on administrative leave i asked if that leave is still going on and a morgan stanley spokeswoman did

not comment. goldman sachs says no comment. i would look at it this way if you're going to game plan this like who gets nailed the hardest if this thing comes down it looks like this is mainly focused on morgan stanley just given their role in block trading. goldman sachs is a second. there maybe other firms, but i hear if just based on my sources are telling me, that they expect morgan stanley to pay a fine. how big of a fine i can't tell you. usually there's unusually some sort of agreement to better your practices on block trading. again we don't think this is a criminal case. my legal sources who are involved in this thing and there's a lot of firms that are involved in this because the sec investigation, basically they first covered every firm. it went on for i heard years they've been looking at this stuff. it picked up during the bill hua ng investigation, as you know, today was indicted on securities fraud charges. liz: arrested. he's been released on bail. charlie: now how does that have

to do with this? he was a major client of major firms so that caused him to speed up essentially and gave impetus to this broader look at block trading and whether inside information is filed or is shared. now i just want to say i don't have the charges in front of me. i can't guarantee morgan stanley is going to get charged. all i can guarantee you is my sources who are talking to people at the sec and the justice department believe the following. they don't think there's a criminal case here. they believe there's going to be a civil settlement here and they believe there will be a fine and they believe the person at the top of the list, the firm at the top of the list is morgan stanley given their breadth and size in the market, goldman sachs the second. liz: morgan stanley down about a third of a percent charlie thank you very much. the feds highly-anticipated rate decision just one week away and today's countdown closer, an a tara omarosa shares her thoughts

on how to avoid fighting the fed and win in your portfolio closing bell ringing in eight minutes we're coming right back with anastacia in a moment. ♪ ♪ it's electric... made extraordinary. ingenuity... in motion. it listens, learns, adapts period of time. . e eqs from mercedes-benz. it's the car electric has been waiting for.

♪ liz: four minutes to go before the closing bell rings. the bulls are trying to cling to the gain. nasdaq had turned negative a few minutes ago. it is up 16. flip over to the 10-year treasury yield. first day in four, a move to the upside. natural gas quickly, more than doubled on the year. it is jumping 6% right now. russia has cut off supplies to poland and bulgaria unless they pay in rubles. with all the geopolitical issues surrounding energy this year has

certainly been the focus, our "countdown" closer is here to tackle it all with the backdrop of the fed. icap tall, 122 billion in assets under management. i need to tackle the fed right here, right now, anastasia. we will find out how much they raise rates. what is your best guess and how do you fight the fed? >> you never fight the fed, liz, you're right. the best guess is 50 basis points. the risks continue to be, they want to do more and more. frankly if they could go to 2% or 2.25% in the next few months i think that is what they ultimately want to do. they have been so badly behind the curve. they want to get back to neutral just as much as soon as they possibly can. i don't think they do that in may. i think they set the path for to us get there probably over the coming few months. that is really the struggle for stocks. just when everybody wants to conclude the fed is max hawkishness, they will back down

because inflation may be seemingly peaking, that narrative falls apart pretty quickly. because we've got china locked down. still supply chain issues growing on. we can't proclaim inflation is going to peak. even if it does it is not going back down to 2% anytime soon. so how can the fed back down against a backdrop? they can't. they have to just keep on going. liz: that said, if we have more days like yesterday where the dow loses 800 points in the blink of an eye, the nasdaq is really struggling here, more days like that do you think that jay powell backs down just a bit? >> i don't think so at all. i mean if you take a step back and if the look at the correction we've had so far, we're 12% off on the s&p 500. financial conditions have tightened but not measureably so. so i don't think he backs down. in fact, i think maybe he does want to see, even more froth, even more overvaluation come out of the market because there are

several ways to generate inflation. the regular inflation we see at the stores. there is also the financial inflation. that sees consumption as well. he wants to keep a lid on stock market sentiment. so i wouldn't expect him to back down. >> focusing on health care, travel, earnings per share positive tech, right? at least software, drilling down there. why that? >> yeah, i think you have to have a barbell approach to stocks at this point. the biggest thing you want to do, you want to get paid something to wait out the volatility so days like yesterday don't feel entirely awful. this is why i looked to health care for example, other dividend-paying stocks. you can get a dividend yield allows you to stay in. by the way, if you look at margins for some of the health care companies, that are better than the s&p 500, so that allows them to be a little bit more insulated. with stand some cost pressures. you want a barbell of higher quality, health care names, but

at the same time, if i look at valuations, for the s&p 500, for the nasdaq broadly, they're not super discounted levels. you have a number of stocks like software and semis that are increasingly discounted. [closing bell rings] anastasia, thanks for joining us. look at this, clinging to greens. too close to call for the nasdaq. s&p up nine. dow. 62. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. so there is a wonderful story in today's "washington post" and it's entitled, fears mount inside of white house that manchin won't agree to any deal. really? so the white house finally figured out that yesterday manchin has been saying this last summer. he is opposed to massive social spending without work requirements. he believes inflationary deficit spending should be stopped.