companies that told me they weren't going to make money money for a year. i'd rather raise the cash and have the money and the dry powder for golden opportunities in the making right now. a lot of stocks are already way oversold. remember, the golden opportunity is on the horizon, and i don't want you to forget that. another wild hour is waiting for us. with we've got the right person in for liz claman. cheryl casone, it's on you. cheryl: i love it when you talk about buying opportunities in markets like this. and i completely agree with that. i will say many viewers have asked me today to wear green, so i'm honoring their wishes -- [laughter] do what i can here, sir. charles: you got it. yeah, absolutely. cheryl: well, this market meltdown continuing this friday as investors see early gains of that as the session drags on. the dow, the s&p 500 and the nasdaq on pace for a third straight day of losses as the dow's weekly losing streak stretches back to numbers not seen since the great depression. i'm going to go through that.

the s&p 500 inching ever closer, really in and out of bear market territory, down about 20 the % since that record high back on january 3rd. our floor show traders are here to to tell us where to hide from the carnage and really what they're looking at. they're not convinced that things are that bad out there, by the way. inflation and recession fierce are driving this selloff. we're going to hear what st. louis fed president james bullard has to say about the fed's rate hike plan in a fox business exclusive interview. and higher prices at the grocery store may be bad for you but good for the growsly store stocks. we're -- grocery store stocks. we're going to talk to a ceo about what his company is seeing in the stores. and the new partnership with uber eats they just signed. and is crypto dead? i'm not going to say that. is the comeback maybe kind of

dead? we're going to ask coming up this hour as well. i'm cheryl casone, and i'm in for liz claman once again today. taking you through another rough hour, but we're going to see how this plays out. a lot can happen, as you know. it is a friday. people always looked at these final positions at the end of the week, maybe they make some changes. we shall see. so the dow is on pace for eight consecutive weeks of losses. this is the longest streak since 1932, a year smack dab in the middle of the great depression. that is a time where americans struggling to make ends meet were living in housing like this, hooverville. they were popping up across the the country. you've probably seen many of these pictures in the history books in school when you studied it, i know i did. 1932, right? the price of a loaf of bread was 7 cents, a new car averaged around $610. almost a century later here we

are, and the market still has good and bad weeks. well, this week, let's just say it's a bad week. not our best. dow, the s&p and nasdaq all down since last friday's close. a lot of pressure on the dow jones, down about 4% for the week, s&p down more than 4.5, nasdaq the down almost 6% for the week. again, you've got to stay with me until the end. boeing shares playing a major part in the dow's dipped today. boeing, as you can see, is under severe pressure, about 7.25%, one of the main stocks we're watching. i'll get into that in a little bit. caterpillar, also that stock as you can see is under pressure, at point down more than 5.5 the %. even ev darling tesla is sinking as elon musk is denying allegations of sexual assault. so according to a business insider report, a flight attendant for the space, and corporate jet fleet is accusing the tesla owner of inappropriate

behavior, asking her for an erotic massage. remember, he just said within the last 48 hours he believed that there were going to start to be a lot of political attacks against him, politically-motivated attacks. still, tesla down almost 10% right now. so the quarterly reports for a lot of the big retailers this week causing major moves in our markets. ross stores, the latest sign of retail wreckage, missing several analyst estimates, disappointing earnings earlier in the week, blaming inpolice station for the missed mark -- inflation if. the inflation story is trickling into everything. okay, let's get right to the floor show. i need some cheering up here. joining me now with $135 billion in assets under management, mark that shinny and wall street veteran and seaport securities founder and president teddy weisberg. teddy, i always love to have you on days like today to be the

calm voice in the storm. >> well, cheryl -- [laughter] it's tough, it's tough to find too much positive about what's going on. yes, clearly there are some very interesting values being created. a bunch of stocks are oversold. and, in fact, truth be known, we've sort of been nibbling, but i mean just nibbling this week on a very select few of names. but on balance, we're clearly in the soft sand here. we're not, in my opinion, we're not done going down. we'll know sort of when we yet to the bottom of the area when the stocks stop and the markets stop reacting negatively to bad news. but clearly, we're not there yet. we'll get there, i just don't know where that is. cheryl: okay. you're saying right now we're kind of in that kicking a dead horse type of phase. i i thought that was a really good analogy that you prosaided. -- provided. go ahead, sorry. all right. so mark, over to you. same question to you, obviously.

the retail story has been a mess this week. you know, inflation, it is everywhere. stores can only, you know, squeeze the consumer so much, squeeze their margins so much, now they're getting punished by investors because of the numbers that we saw. but again it goes back to this talk of a potential recession, mark. what do you say? >> well, cheryl, certainly something that we have sympathy for. we can't ignore the risks associated with it because there's a confluence of factors swirling around that certainly give plenty of evidence to suggest the economy is slowing from the heavy pace we had last year. but yet at the same time, not necessarily indicative of an imminent recession. we're having a hard time reconciling this week's relief from the government on retail sales which was actually quite strong against the earnings report given by the com at hadti thati wt iner t their the pre tauhesey thed so so badly ondly where earrengs estiestettri attting a ingt

nly onlut costs c c c but b a ng a littl leittleecmeonrsu trs natedi with hitowh hrerere ingapinhat w we tine thmu lsitms t abthab economy e,my,ut - b-ut lncome cohor is being ez most definely andnd violely aly csequsecese nftion.on.but int lance,ance w t co inn balce, w thinkhith consu cmer'still in i pre py shape.ge growth is occurring, t perhaps peaking, and we we know at the same time, you know, job growth, of course, is going to continue to percolate given the fact there's still almost two people unemployed per job that's open or, i'm sorry, reverse that, two jobs for each person unemployed. and that is still offering a lot of chance to absorb this labor force to continue to, again, propel spending going forward. cheryl: teddy, you've seen this play out before many times in your years of trading, teddy.

at one point companies actually start to lay off employees because they are getting squeezed so much and businesses are starting to suffer or they realize they can't pay everybody a high salary, so they do more with less. >> well, you know, i don't think we're there yet with, cheryl, and i don't think we're close to that point. pleasure but i think, i think as mark was alluding to, i think the problem really for the consumer -- sorry -- [laughter] the problem for the consumer, quite frankly, is that the gasoline at the pump, you know, is $5 give or take, you know, and tending towards the higher seed is side -- higher side. there's inflation in the food arena. so, you know, most people have to drive to work. not everybody has luxury of taking a bus or a subway or a train. so i think the consumer is really getting squeezed here. because, you know, at the end of day they've got to feed their family, and heavy got to get to work. so what's going to suffer? if it very well could be the numbers like we've seen from

target, ross stores and even walmart. cheryl: yeah. >> so, you know, i think there's some really inmeant problems in -- inherent problems in the economy and is with the consumer. i'm not suggesting that mark is wrong, but i think that that there are real issues out this, and they're being masked. in addition, if i can, there's so many unknowns out there, and the markets can deal with bad news and the markets can deal with good news, but the markets really struggle with unknowns. and we've got some pretty big unknowns that investors are facing, and they just don't seem to be going away anytime soon. cheryl: well,ing yeah. we've been here before, teddy. and i know why your phone's ringing, teddy, because tomorrow is your birthday. [laughter] >> oh, yes. cheryl: 82 years young. >> thank you for telling everybody, i appreciate that. cheryl: of course, you bet. no, hey, you look great, and you're just such a wonderful guest to have. you've been with us for years and always a good voice of reason especially on days like

today, teddy. have a great birthday. i hope you have a good one. >> thank you. cheryl: teddy and mark, thank you very much for being with us, as always. all right, fox business' edward lawrence got an exclusive sit-down interview with the st. louis federal reserve president james bullard earlier this afternoon. a lot of news was made in this interview. bullard gave an upbeat forecast for the u.s. economy. he says recession is unlikely despite red-hot inflation and, of course, market volatility. edward lawrence, you're live at the economy museum in the federal reserve bank of st. louis, missouri. and, you know, i was very happy to hear him say that. i think that -- i think the market actually did react at that moment. he did kind of calm the market a little bit. >> reporter: yeah, and you could see that. he also told me that he believes that the inflation will come down on the business side first, the ppi number, he believes, will dallas canically come down in the coming months. they actually have a real gold

bullion here, and this is actually heavier than it looks here. [laughter] $1800, about, is what gold is at this moment. bullard was saying you don't need to rely solely on gold because he believes the fed can avoid a recession. listen. >> i think all that is great. >> reporter: so talking about a hot economy. so when federal reserve was saying, hey, let the economy run hot for a period of time, this is not what they were talking about. you were talking about inflation a little bit lower than it is and how long should americans expect? >> a little bit lower, i mean, inflation is crazy high. so it's way too high for, compared to our inflation target, and that's why this is really '70s eraen inflation. and that's why the fed has to move aggressively to keep this inflation under control. the sooner we do that, the better.

otherwise we'll be wrestling with this for, you know, another decade, and we don't want to be in that situation. so let's get the job done and get it done now. >> reporter: but the markets are being squeezed from two sections. they're not only seeing interest rates go up, they're also seeing the balance sheet shrinking or start to shrink on june 1st. bullard said he expected this repricing. >> -- are asking financial markets to shoulder additional volatility that's occurring and more than they're used to. i'm sure they wish they didn't have to reprice all these assets for the new environment, but they do. and and we'd expect volatility to come with that process. but i think it'll be worth it in the end. >> reporter: he says it'll be worth it in the end, but there's some heart ache right now. this is actually one of carts they move the money in, dollar bills in here. let you guess how much money you think is in this cart, cheryl.

cheryl: let me think. um, hmm, i don't know. >> reporter: full of $1 bills. cheryl: i'm not -- >> reporter: okay, the reveal. $507,610 in this, and that's actually one of the carts that they muse to move the money down in the vault. cheryl: i never guess those, like with the jelly beans, you know, in the jar concern. [laughter] i'm always way off. >> reporter: there's a lot of $1 bills in here. this is definitely not how i want to take 'em. cheryl: grab the gold is run, edward lawrence -- the. [laughter] thank you. >> reporter: there you go. cheryl: thanks, edward. great interview, sir. all right. let's keep on this topic of your money and dollars. groceries may be costing an arm and a leg these days, but one grocery chain is going high-tech to deliver the food from the store to your home on the same day. we're going to talk to the grocery outlet see owe about his new partnership with uber eats. taking a look at big board, so

again we are seeing another day of selling in the dow jones industrials, we're down 476. off of session lows, kind of in that middle ground. we shall see how things play out, 45 minutes to go. "the claman countdown" is coming right back. ♪ ♪ big game today! everybody ready? alexa, ask buick to start my enclave. starting your buick enclave. i just love our new alexa. dad, it's a buick. i love that new alexa smell. it's a buick. we need snacks for the team. alexa, take us to the nearest grocery store. getting directions. alexa will get us there in no time. it's a buick. let's be real. don't make me turn this alexa around. oh my. it's painful. the buick enclave, with available alexa built in. ask “alexa, tell me more about buick suvs.” your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do.

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♪ cheryl: food prices rocking the nation. price of eggs, chicken, milk and wheat all up and rising. farmers also feeling the effects. fertilizer remains high in demand due the to the ongoing war in ukraine with. the u.s. bird flu wiping out almost 10% of the country's egg-producing hens. as grocery sopor -- shoppers peel the pain, company often referred to as the tj maxx of grocery is hatching a plan. grocery outlets partnering with uber eats to deliver groceries the same day from its stores to your home. joining us now on a fox business exclusive interis view with ceo eric lindbergh. it's great to have you here. >> great to be here. thanks for inviting us. cheryl: first, i've got to get your take on what we're seeing with this inflationary

environment -- environment, because it wasn't just consumer prices we saw jump, but producer prices as well. you're kind of in that space right now, you know? your reaction to what is expected to be more inflation at the grocery stores. >> yeah. we're seeing it at every turn, and it's terrible. your last speaker said it right, it's just crazy. we've never seen anything like it before in our business. we're dealing with every manufacturer raising prices not once, but two and three times. the consumer, i think, is going to get fed up with it eventually. we're really excited about position we're in. we offer value, and if you're in any of our markets, you hear the themes on the airwaves about how much value, how much you can save on food and your basic necessities, brands at grocery outlet. so it's good news for us, but it is a bit scary, because we've never seen anything like this before. cheryl: i guess, i really think you're known for giving -- you're mostly out west, i'm affair ware.

you're -- aware. you're known for good deals on food, but aren't your margins being squeezed? >> yeah, look, everyone's around. what we have -- everyone's are. we're not price leaders, we're price followers, so we will watch all of the conventionals, watch walmart, and as they move prices up, we're going to move up accordingly. we're trying to offer a lot of value, limited assortment, and we're able to do that. interesting thing about our model, you mentioned tj maxx of grocery, we're pricing things dynamically every weekend. about 50 president of our asews -- 50% of our assortment hasn't been bought yet for next month. we're constantly dealing with brands coming in, so it's a little easier for us because we've got this dynamic inventory: so a little bit easier for us. and we're only pricing 5-6,000, not 50,000 that your traditional store is pricing. cheryl: do you think that it's going to get worse before it

gets better? >> i do. i do, unfortunately. all the signs -- the drought in california, what's going on in ukraine, the bird flu which is just terrible timing and everything with the supply chain, we're just seeing incredible challenges at every step trying to get food on the table for, you know, consumers that are commenting to us they've merv seen anything like it. cheryl: well, let's get to this uber eats partnership. this is california, oregon, washington state, and so basically this is -- uber eats, excuse me, uber, they're kind of doing this uber travel, they're launching new initiatives, and you're kind of going with that. >> right. cheryl: are there incentives for people to sign up through uber eats to go to grocery outlet? >> yeah, so i'll step back a second. we really started with instacart. we wanted to be able to expand in two ways. one is through our bricks and mortar, opening up about, you know, 35, 40 stores a year, but we also wanted to have an online

credit. so we went with instacart then, ultimately, we're starting to roll out to doorcash and uber eats -- doordash and uber eats as well. yes, we're putting marketing behind that so try to incent people to find growsly outlet and find it -- grocery outlet and find it on loin. -- online. cheryl: the customers order through the uber app, right? >> ca exactly. cheryl: and you're giving them an incentive for a couple months, right? >> we are not yet, but uber is and instacart has been. and ultimately, as we start really understanding how it's going to impact the business, you know, we'll get behind it a little bit more. cheryl: okay. all right, yeah. well, it's great. congratulations, eric, thank you very much for being here. >> yeah, appreciate it. take care. cheryl: all right. well, let's talk horses. let's switch gears. take a break from our markets

for about five minutes. the second jewel of the triple crown is set but without the winner of the first jewel. we're going to take you straight to pimlico racetrack for a preview of the 147th running of the preakness stakes. and taking a look at the big board -- i lied, we're going to look at the markets again. there we go. we're only down 361, 363. you never know, see, it's getting better. things can change around. we'll be right back. ♪ ♪ your portfolio may be too concentrated in big companies. this can leave it imbalanced and exposed when performance varies. invesco's s&p 500 equal weight etf, rsp, is spread equally across the s&p 500, which reduces potential concentration risk and helps keep your portfolio in balance. stay in balance with invesco's rsp.

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another crazy day? only pay for what you need. of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both. with the nation's largest ip network. from the most innovative company. bring on today with comcast business. powering possibilities.™ cheryl: pox if business alert, shares of kohl's continue sinking after "the new york post" reports the department store's disappointing earnings may dissuade suitors from buying

the company. also concern the company did not pre-announce its results before the shareholders voted at their annual meeting, and women's wear is reporting the chairman of kohl's is against selling department store chain. remember, two activist groups want kohl's to sell themselves. so all of this has gotten very complicated for kohl's. stock is down 11%. while that stock has pallingen, share -- falling, shares of vf corp. rising after better than expected 2023 fiscal are revenue. parent company of popular brands like vans and the north face beating analyst estimates of 6.8%. hay saw strong demand in north america and in europe as well. pal lowalling toe network shares also enjoying an up day. third quarter revenue was 21% year e over year, and the company boosted its 20 2022 revenue to 5.5 billion.

that beat the analyst consensus of 5.46 billion. it's all about forecast. attributing its growth to a shift to sub situation-based services and a broadening demand for cybersecurity. palo alto is up 8%. deere's stock being plowed into the ground after missing wall street sales expectations. the pardon me equipment merrick reported second quarter -- farm equipment maker reported second quarter sales just over 12 billion, the expectation was 13.2 billion. the company did raise the annual profit forecast boosted by higher sales for track ors, combines and sprayer. >>s. concern sprayers. but deere is really getting hit, could be about 15%. they say nothing runs like a deere, but horse racing pans mabus disagree. the preakness stakes is tomorrow at pimlico, the first full house for the middle jewel. but there won't be a triple crown winner this year after

underdog kentucky derby winner rich strike pulled out of the race. oddsmakers figure epicenter at 6 to 5 to win the bulk of $1.5 million purse. but the only filly mt. field that has the attention of many fans of the run for the black-eyed susans. lydia hu joins me now live from baltimore. you look beautiful, i'm going to say that, first and foremost. a lot of interest in this race tomorrow night. >> reporter: there sure is, cheryl. and i gotta tell you, ooh even though we know going into the preakness tomorrow we're not going to have a triple crown winner this year, people are so excited to be back in full force. you know, you can see the pimlico racetrack stadium just behind me. we're expecting 100,000 people to pill stadium tomorrow to watch the return of the preakness stakes in full force. that's a big difference from just the 10,000 we saw last year

under reduced capacity. you mentioned one of the contenders, epicenter, just moments ago. just yesterday i had a chance to talk to epicenter's trainer fresh off the second place finish at the kentucky derby. his trainer says epicenter's looking pretty good for saturday. watch. >> we were proud of epicenter's effort in the kentucky derby with his second place finish. he came out of it in very good shape, moved here to pimlico and and handles the surface we feel extremely well, and we're excited about our chances come saturday. >> reporter: but epicenter's9 got some strong competition coming from a filly, a female horse, that that's taking on the boys saturday night. secret oath owners tell us she's already getting fan mail from young women and young girls. watch this. >> if a 15, 16-year-old girl sees her run in a race and that inspires them to accomplish something, to compete, to say

there's no glass ceiling in horse racing, there's no glass ceiling in business or anything else, i think that's a good thing. >> reporter: now, cheryl, get this, in the entire history of the preakness, this is the 147th running, this is only been 6 fillies that have ever won the preakness stakes. so we're about to see whether secret oath can become the seventh. so a lot riding on the line here for her. another issue to watch out for is the heat. it's touching 90 degrees and a little bit higher, that might be an issue that the horses are have to race under, and we'll see how they handle it. post time tomorrow, 7:01. don't miss it. cheryl: unlike the derby where you and i were both will together, i've got my phone here in new york, i'm going to be making my bets from here and watching on my television. st going to be pun. >> reporter: oh, good for you. that's great with. cheryl: thank you, ma'am. great report. great stuff of from there. all right.

well, bitcoin mega-bull ken draper said he's sticking with his call for bitcoin to hit 250,000 by the end of this year or next year. we're going to be ask a ceo what a he thinks about draper's lofty prediction. taking a look at your markets, again, we're into the history books now as far as numbers we have not seen as far as eight straight losing streak weeks for the dow anyway. we haven't seen that since the '30s. dow is down 290 points, 284. we're looking better. nasdaq down 186. we'll be right back. ♪

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chainal sis provides services to exchanges, banks, government agencies and cybersecurity companies in over 70 countries. recently, they received 170 million in funding taking the valuation to $8.6 billion, and they've been bringing it to the next level of becoming a top data platte form for crypto. joining me now is the cofounder and ceo. it's great to have you here, michael. so many questions about crypto. i do want to start with what we're seeing in the crypto space right now. we have seen, you know, the fall of blockchain, of ether a, across the space. what's happening in the cryptocurrency a market, and where are we in particular with bitcoin? >> so it's an extremely interesting time we're in. i think weakness over the last basically year is that crypto is going mainstream. and it's going mainstream in many ways. now crypto is basically following the trends of -- if

you look at the nasdaq tech index and compare that to the price of bitcoin this year, it's exactly correlated. so it's doing exactly the same as the rest of the tech industry. i see that as a sign of maturity of the asset class. there's not more volatility or less volatility, there's the same volatility as we see in the tech market today. so it's clearly impacted by inflation, it's clearly impacted by the trends in the market, and a lot of retail investors have left tech stocks, have left crypto as well, and that's what we are seeing. cheryl: yeah. we're looking at bit with coyne right now, 29,000, just above 29,000. tim draper was on the show with liz claman, and he said he thinks bitcoin's going to $250,000. what do you make of that kind of call? >> so i think he's right. but the timing might be different than he thinks, right? so i think it's always hard to predict when this is happening. clearly, i'm a strong believer in the crypto space. i think we're building the

operating system for finance aha's going to transform world in many ways, and that will put a lot of value in crypto. i think it's going to take longer than he thinks, but at the same time, if draper looks back and looks at price of amazon and compares how bitcoin has performed over last two years compared to amazon shares, it's basically gone ten times better. so maybe 50,000 isn't that crazy after all. cheryl: maybe just a little further off into the future, to your point. i think most people believe bitcoin's not going to go anywhere. let's talk about chainalysis, because a lot of your customers are banks, cybersecurity companies, and as cyber crime has become kind of a hot space, how are you playing into that? >> so we are basically building a layer of transparency across

multiple -- in the world. we can look at it and assess what entity did it come from. it also means that we have a very good map of anything that's illicit. it could be tools for cyber crime, it could be atm networks that have been used in criminal activity, and and it could be recordist organizations, could be north korean hackers. and that basically enables law enforcement agencies to use our products to chase down crime. and that's what they're doing, and that's why we have seen very successful investigations being conducted over the last couple of years. cheryl: how bad is cyber crime right now in the crypto space? [inaudible] by way, i'm asking about account theft, accounts being drained, that that type of stuff. >> yeah. so i think accounts being drained is clearly a huge problem. biggest problem is scams. yesterday alone there was 150 different examples happening on

blockchain. we can see that in realtime. also what happened was that $15 million was stolen in criminal activity, and out of those 31 million was -- 11 million was taken by north korean hackers. they're being moved, thefts comprised from that. so that stuff we're seeing in realtime. but the same thing we need to remember is that the crypto space has grown tremendously. from having around 1% of criminal activity including thefts a year ago, we are now down to, like, 0.15% or so. so clearly the growth of the crypto space has been growing par faster than growth of crime on blockchains. cheryl: that's fascinating, michael, because we've heard -- it's been reported that kim jong un is operating on crypto, and that's how he's maintaining power in north korea. that is really interesting about those hackers, wow. okay, i wish i had more time. i'd love to get into that with you. really quick, with all this fund

raising, do do you plan to go public? >> not anytime soon. we focus on the future and basically growing best products for our customers, building the best experience and expanding all over the globe in our business. cheryl: you've got to come back and talk more. this is a fascinating topic. i wish we had more i'm. thank you for being here. >> a thank you. cheryl: wow. okay, well, as asset values are on decline with the broader markets, one major bank may be looking to make an acquisition is. charlie gasparino's got this one, it's big. and let's take a look at blue chips right now. look at this, we could go positive. we're only down 29 points. wow. you're welcome, folks. [laughter] i hope keeps going. "claman countdown" coming right back. ♪ ♪

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♪ ♪ if. cheryl: take a look at this right now. so the cow is down 105. -- dow is down 105. volume is really picking up, now down 92. at one point the dow was down 617 points. as for the s&p, only down 14 points. so we're kind of out of that bear market territory at least for today when it comes to the s&p. now, president dow is down can for the week -- if the dow is down for the week and it likely will be, even if we go positive in the last few moments, you still have the dow on pace for this 8-week losing streak, and we haven't seen that since 19 i. i'm going to not jinx it anymore and just move on, okay? goldman sachs has had its eye on

a major acquisition target. bankers telling fox business the time could be right for it to expand. charlie gasparino. >> i'll be the guy that jinxes the markets. down, down, down, down! [laughter] well, it kind of plays into this story. there were two conditions to goldman always doing a transformational deal. as you know, it's interesting, you know, they have a huge name, great reputation, very good firm, obviously, you know, premier investment bank involved in some of the biggest deals, really smart people, but they're small compared to just about everybody else. in a sense, tiny. they're the new bear stearns and lehman before they were the smallest firms on the street compared to the big banks. that's where goldman is right now. morgan stanley's much bigger because they bought e-trade, and they bought other things. they're huge particularly in retail investing. obviously, they're not as big as

jpmorgan or citigroup or bank of america. they are the smallest player. so even internally there's sort of agreement from what i understand from from, you know, people including david solomon that they should do a deal. now, the question is why haven't they, and it's always been two factors. they don't want to give up control, they wants a set prices to normalize. and you are seeing asset prices normalize right now as we're talking about the markets. cheryl: yeah. >> it might bounce up today. cheryl: still a bad week. >> and financials have sold off, right? and this is time when people say goldman could be looking to do a deal. the company has no comment. i can tell you that my sources in there, they always -- they are on the lookout. but, again, it's got to be price, they don't want to overpay. they want to retain control. who are firms that they would like to do a deal with? schwab. i don't know if that's ever possible. schwab's longtime investment banker, and they can use that

sort of high-end retail component. the other thing -- cheryl: [inaudible] >> what's that? cheryl schwab's had a a hard time. >> maybe their asset price is normalizing. the other names are us bank corp. and pnc. mid-sized -- bigger than regional -- cheryl: dow just went positive, charlie. it's all you. >> it's me. cheryl: thank you for sitting down. [laughter] anyway, those are the names you hear, pnc, u.s. bank or schwab. i'm probably leaving stuff out. and these are the names that we think, that a lot of people think, bankers think goldman would be a perfect fit. cheryl: makes sense. >> -- proponent, pnc and u.s. bank corp. they have both wealth management, but they also are banks. and it's good to have a big bank under your umbrella. that's where we are right now. goldman has no comment. again, i'm getting this from bank -- bankers who bank goldman

and and know what's going on. it's clearly something they're looking to do. the other thing, cheryl, to be quite frank, they're looking to buy stuff piecemeal. don't be surprised if they bought greg fleming's rockefeller management. a high-end, boutique-y money, not money management but wealth management firm, brokerage firm. that's something you might see them do. so they're definitely going to get bigger now, people hi, as asset prices normalize and, again, they want to maintain control. cheryl: good story, charlie. >> thank you. glad you approve. [laughter] cheryl: i think it's great that you sat down and the market went higher. don't leave. >> is it -- it just went lower. cheryl: we're lower again. i'm trying. charlie gasparino, thank you very much. great stuff. investors may be feeling blue about market losses, but today's countdown closer thinks blue could be the cure. he thinks ibm stands out from the stock market pack hawaii's

coming up. as far as the big board goes, so we were positive for a hot minute, we're down 54 right now but, again, the dow was down 600 plus points earlier: take it for what it's worth. we'll be right back. ♪ ♪ with my hectic life, you'd think retirement would be the last thing on my mind. thankfully, voya provides comprehensive solutions, and shows me how to get the most out of my workplace benefits. voya helps me feel like i got it all under control. voya. well planned. well invested. well protected.

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♪ i eb college no maowid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with no fees, low fixed rates, and borrow up to $100k. sofi. get your money right. liz: we have four minutes to go until the bell rings. the bulls are making a push to try to turn this thing around. the dow is down 28. s & p 500 down 5. it looks like we are not going to be closing in bear market territory. at run point the nasdaq was down more than 300 points. this is a big reversal in this last hour. it's been 8 weeks of losses for

the dow. the nasdaq was down 7 weeks in a row. that's their longest stretch since 2000 as far as their down side. people are changing up their position as they are going into the weekends. the biggest lagers, the retail sector. walmart stock is down nearly 20% for the week. the retail missed their estimates earnings per share by 18 cents. they said shire costs weighed on company profits. target stock down. target for the week losing 29% of its value. target blamed inflation for the

earnings miss. that set the tone for the retail sector. dollar tree is set to release their report next week. right now dollar tree is down 20%. all of this is the same big story. is the market trying to bottom out? joining me now, chief investment officers jim burden. great to have you on a day like this when the markets are trying to come back. is this a search for the bottom? >> i think it is. from a technical stand point technicians like to look at these things. we tested it once before and got real close within 8 basis points

to a bear market. we were intraday trading, but to seat market come back tells me there is support and people looking to buy. that a good sign. liz: niece are stocks you are making moves into, at&t and big blue. >> they are not the most flashy companies, but they are paying 4 to 5 percent dividend yields. and their price to earnings ratio did not get expensist other companies. these look good. they didn't get beat up as much. but we believe they have some staying power and they will be

less volatile than some of the other names. liz: the dow is possibly going to be months tough for the end of the day. up 17 points. we were down 617 at one point. the nasdaq down 2 points. the numbers are settling. that it for me. i will be back monday. larry: welcome to "kudlow." i'm larry kudlow. the plunging stock market dropped into i think bear market territory. 20% full-fledged correction. this comes as no great surprise. we'll get the final tallies as the show goes on. but the market has been falling paul year. i take no pleasure from this.