investors. my word to you is, again, they're going to force their way in, but their ulterior motives, you have to keep calling hem out on it, or they're going to achieve derailing your treatment of individual success and prosperity outside of the fiat currency system. meanwhile, we've got a pretty good market. we're going to see if lauren simonetti can hold it together. she's in for liz claman. lauren: the pressure, the pressure! that was well said, by the way, the wild, wild west of crypto. hi, everybody, i'm lauren simonetti. it is a tug-of-war on wall street with. investors still struggling to figure out if a good jobs market makes for good stock investments. markets all over the place today after this morning's june jobs report did beat expectations, possibly cementing the views of a hawkish fed with more interest rate hikes ahead. the major averages are up nicely for the week, and right now, hey, they are higher too. you are looking at one-quarter of 1% gains across board for all three major averages.

the american job picture still rosy despite soaring inflation that the fed insists remains priority number one for them. and that means they may keep the pedal to the metal with raising rates to cool prices. but with all these worries about a hard landing, is a recession even possible with an unemployment rate of just 3.6%? we're going to ask that exact question to "wall street journal" senior writer jon hilsenrath. and as high prices and high mortgage rates put pressure on housing, those looking for an investment property may have a new option. we're winning to introduce you to a start-up that's out to disrupt the vacation home market. founder and ceo joining us here in a fox business exclusive. again, i'm lauren simonetti in for liz claman. fox market alert, another day of very choppy trading as investors try to decipher what the strong jobs report released this morning really means for investors on wall street and for borrowers on main street.

take a look, you can see the dow's up 63 points, the tech-heavy nasdaq up 27, and the russell 2000, small caps, just slipped into the green. it's up a solid point right now. so you're seeing growth stocks do okay, you're seeing small caps do okay right now, somewhat broad-based gains. back to that jobs report that has everybody kind of just with question marks over their heads right now as the u.s. economy did add, look at that, 372 the ,000 nonfarm payroll jobs in june. that beat expectations by more than 100,000. june's number was just 12,000 less than we saw in may, and the unemployment rate on the right of your screen, that stayeded at 3.6, unchanged from may. investor reaction, well, wavering between gains and hases, seeming to echo doubts about the future strength of the economy and if it can handle more interest rate hikes. secretary of labor marty walsh told varney and co. earlier

inflation is a problem but, hey, we can get through it. >> private sector employment is back to pre-pandemic levels. we're seeing manufacturing back to pre-pandemic level. we saw good growth in childcare workers this month, first time in quite some time. warehousing, we do see some growth. so on the positive side before i go to the other side, we're seeing some really positive signs here with people going back to work. lauren: does he have a point in let's go to the floor show, scott shell arely and phil flynn. gentlemen, happy friday. scott, you say, no, it's not positive, you say we are in recession. but i've got to ask you, how is that possible with a 3.6% unemployment rate? >> i'm going to commit a crime and ask you a question as my answer. how are you raising interest rates in a recession? it's never happened in my 35 years million business. lauren: yeah. >> so a negative print the first quarter officially, now here's what's going to happen: we're going to -- i feel strongly about another negative print, right? it might be mildly negative, but

it will be negative. and we're going to have the national bureau of economic research come out and say, heir going to hedge on their own definition of a decade. they're going to change the definition to include jobs to satisfy people like you that keep looking at 3.6% or 372,000, right? but i'm telling you -- lauren: people like me. [laughter] >> if i'm right, so we are raising rates, we've been in a recession six months already. we'll find out july 28th for sure. and the cpi is going to be probably more watched than today's nonpardon me payroll was, but i think what the fed's been doing so far with those interest rate hikes, we don't know how much damage they've caused. definitely in dollar terms, bitcoin's off 58% year to date, look what equities have done, commodities rolled over week in a horrible way -- lauren: so -- >> go ahead. lauren: let me bring phil in here. does that mean that the cf -- cpi report that comes out on

wednesday is less important now? >> no, it's huge. i i mean, inflation is everything. and scott's right, the old definition of a recession used to be when your neighbor lost his job, a depression was when you lost yours, right? [laughter] you know, and this is going to be kind of a weird situation because we still have a labor shortage, right? and one of the biggest concerns about the federal reserve has been inflation. that's going to be huge. now, we have seen a recent drop in commodity prices. some people are saying, hey, that's a sign that maybe the fed's getting ahead of this thing and the interest rates won't be that hot. so if the inflation number coombs off, the -- cools off, the fed will be less aggressive. so i think inflation is going to be huge. but i think what we are seeing here is that the jobs numbers suggests, i agree with scott we're in a recession. consumer confidence is terrible. from that that viewpoint, he's absolutely right. but i am seeing signs that it's

going to be a soft recession, it's going to be shallow, and that's going to present some opportunities. and i think, you know, with the midterm elections in november if people start getting home we're going to have a change in the house and the senate, that's going to the to create a little optimism, and i think you'll see a switch from value back into growth. and i think we saw that a little bit today. lauren: that's why the market shows, history shows that when you have a really bad first half year for the stock market when you're in a midterm election year, you can do well in the back half. i think investors today, scott, are saying we have no idea what's going on. wells far bow, scott, they said we're going to have a moderate recession, and it's going to last about a year. what do you think? >> yeah, i mean, i -- i think, i hope it's moderate. i don't like using hope in my business plan, but i hope phil's right too. there's enough good things happening out there with your 3.6% unemployment rate. i just don't understand the 11

million jobs open and 6 million looking -- lauren: me neither. >> and the reason i bring that up is because i didn't understand it on flipside, lauren, when we had 0% interest rates, free money out there and we couldn't get any growth, right? if the inflation rate was under -- it was 1.4% when biden took office, and we were pumping so much cash into the system, the only thing that really ignited inflation was coming off the pandemic. so i couldn't understand how for 10, 12 years we couldn't buy inflation, and now we've got the reverse of it. there's a lot of confusing things out there. what we're putting in the gas tank is not coming out the exhaust, and there's a leak somewhere we just can't figure out. yes, i do think we're in a recession. yes, i think it will be mild. there are enough good signs out there that don't make sense to me, but at the end of day with that many people working and the unemployment rate that shallow, i think they're right, it could be a year and could be shallow. lauren: phil, 10 seconds, take

us home. >> i think scott is right, shallow recession. look at some of the stocks, you know? the energy stocks are best performing in the first a half of the year. i think number's still going to to be the key, and that was the answer to to the question, why did we not have inflation? the u.s. emergency industry. lauren: gentlemen, we're supposed to have people of opposite points of view. that did not happen today. >> i'm a sox fan, because that help? lauren: levy strauss reported -- levi strauss reported quarterly earnings that beat street expectations. better earnings, they raised their quarterly dividend. why? okay, higher sales because we're a less -- more casual culture, right? people are going back to the office, and it's okay to wear jeans when you go. that's like a new hinge post-pandemic not just on fridays anymore. you can do it, like, every day. yesterday we were talking about

shares of gamestop. they rally on news of that announcement of the 4 for 1 stock split. today gamestop is down 4.8% at 128.60 a share, they're sinking after they fired their chief financial officer who came from amazon. gamestop also says it's cutting jobs. they did not specify the number, but the cuts will be across various deaths, probably more corporate -- departments. and upstart holdings, those shares plunging just about 20% after the online lender shrank its already reduced second quarter estimate. blaming the rising interest rate environment. and let's check out some of the other fin-tech competitors, because some of these names are down 70-80% this year, and heir down today as well. square down 2%, paypal also down 2%. and tesla, so sales in china, highest level since the opening of that shanghai plant back in

2019. sales topped a record 78,000 last month as shanghai reopened after covid-19 lockdowns in april but only resumed full production this in june. tesla shares are up just about 3% today. and the rental market seeing prices skyrocket over last year, but there could be a glimmer of hope that rent might have peaked. madison alworth is live in hoboken, new jersey, with that story in moments. but first, this tug-of-war continues on wall street. the dow jones industrial average, well, it's tugging the right way right now. it's up 50 points. the other markets higher as well. "claman countdown" coming right back. ♪ ♪ only at vanguard you're more than just an investor you're an owner. that means that your priorities are ours too. our interactive tools and advice can help you build a future for the ones you love.

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every search you make, every click you take, every move you make, every step you take, i'll be watching you. the internet doesn't have to be duckduckgo is a free all in one privacy app with a built in search engine, web browser, one click data clearing and more stop companies like google from watching you, by downloading the app today. duckduckgo: privacy, simplified. lauren: renters' night nightmare might soon be over as price increases begin to show signs of cooling off. supply shortages and a strong job market have pushed rent to record-breaking levels for 13 monthses in a row, but that might be changing. madison alworth live from hoboken, new jersey, with good news for renters. >> reporter: yes. finally some good news. these rent spikes, they're slowing down. now, don't get me wrong, rent is

still high, but this is an exciting change of direction. so taking a look for the first time since a rental web site started tracking rent data, for the first time two-bedroom rent decreased by 2.9% month over month, the biggest monthly decrease they're seen since hay started racking in 2016. one-business room -- bedroom rent did increase, but it is better than the over 1% increases than we've -- that we've become acuts onlied to. something that is helping is the increase in home buying inventory because according to zillow, inventory is up 10.5% since april of this year. that has helped some of the people exit the rental market and move into their forever homes. >> more opportunity opportunities for people to get into rentals can help to reduce a lot of this pressure on prices as much as adding more inventory and, of course, the market would help to reduce prices as well. >> reporter: right.

so freeing up some space in that rental market. but we do still have a way to go. inventory is 50% below 2019 levels. in some areas, rent is worse, you're taking a look at the five cities with the largest year-over-year increases. if you're a remote worker and you're, like, i want to move to the city with the smallest increase in rent year-over-year, you're going to need to bundle up because you're moving to minneapolis are, an increase of 6.5%, far below the 15.9%, but i don't know about you, lauren, i -- new york winter is tough enough, i don't think i could do minneapolis. lauren: you have a florida girl -- well, not originally. you'd have to buy a lot of jackets. i wonder if all this is a sign that inflation might really be peaking, if we're starting to see early signs of it in the rental market. madison alworth, is have a great weekend, thank you. forget airbnb, if you're

looking to make cash on a vacation home rental without the headache of turning down the sheets, one start-up could be the answer. we have the founder and ceo of here, that's the name of the company, to explain his unique real estate investment model. let's check big board, because we have a rally. look at this, the dow is up 72 points. the other markets higher as well. it was a tug tug-of-war, investors trying to gauge if the economy is strong enough as we saw with the june jobs report, 372,000 jobs added last month, is it strong enough to handle another 75 basis point hike? "claman countdown" coming right back. ♪ ♪ is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture. this is what it's like to have a comprehensive wealth plan with tax-smart investing strategies designed to help you keep more of what you earn. and set aside more for things like healthcare,

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market. the name of that company is here, and it enables regular people to buy shares in its rentals without having to do the heavy lifting of taking care of the rental. in a fox business exclusive, we have the here founder and ceo corey walters here. corey, congrats. relatively new company. i know you have about 30,000 users in just a matter of months. what sparked this idea for you? >> yeah, great to meet you, lauren. you know, before here i started, i started a previous start-up and, unfortunately, it didn't survive covid. i was toiling kind of in the ashes of my last start-up and was looking for since -- inspiration. and i thought, you know, i stumbled upon a really interesting metric from a company called grand view research. and this is a around the time airbnb went public, and it basically said 75% of all travel and leisure spend was going to be made by millennials or younger, and it sent me down a rabbit hole that i'm still going could be today that, basically,

it's a big determination that millennials, they perfect short-term vacation rentals and, unfortunately, there is no reliable supply of those accommodations. lauren: so you are a millennial, and that's what you're going after. so i'm interpreting this as an airbnb that you don't have to pay to clean up or clean up yourself, but a timeshare that you can't stay in, correct? new orleans? >> if i were to explain it to my grandfather, that's how i'd probably explain it -- [laughter] lauren: are you calling me the equivalent of your grandmother? >> not at all. [laughter] not at all. lauren: corey? okay. >> yeah, essentially that, yes. so the idea is fractional ownership by way of short-term vacation rentals and really we democratize -- lauren: how do you get it? how does someone watching get it? >> yeah. pretty simple, answer a couple of questions about yourself, we have to check to make sure you

are who you say you are. it's as easy as selecting what you'd like to purchase, and you're able to build your own portfolio. and the minimum investment is around $100 which is very different hand a timeshare. lauren: so you're i saying that i think you can buy your most expensive property is $2 million? you can -- >> up to $2 million. lauren: -- these $100 investments from from random people and and purchase a property just like that? that would be a lot of people that have to get paid out, no? >> totally -- yeah, totally random people. we don't even know what they look like. it's very interesting. we just know names and e-mail addresses and anytime they message in, that's how we get to meet them. yeah, it is a lot of people. on average, we have anywhere from 500-1,000 investors on each individual property. lauren: and how often do they get paid, the investors in. >> quarterly. and then at any time the property's exited, then they're entitled to any appreciation the property generates when the

property's sold. lauren: looks like ad side gig for a lot of people and maybe a more comfortable, less risky way of having alternate investments, i suppose. where are rentals the hottest for you? >> yeah. so we're really focused on vacation deaths destinations -- destinations, joshua tree, panama city beach. so those are the markets that we're focused on. lauren: is that where you vacation to or where you think people vacation too? >> oh, yeah. as a millennial, i struggle with having enough money to vacation lately, but when you think about going on a trip, it's where you'd like to take your spouse or family. lauren: do you lives on airbnb at all? is that even possible? >> yep, yep, absolutely. with we take an omni-channel approach, and that mean we focus on really any channel where people are booking short-term accommodations. so that's airbnb, brbo, booking.com has become popular

as well as trip adviser. really anywhere people are booking short-term accommodations, that's where we're listed. lauren: corey walters, great idea. appreciate you coming on. >> thank you so much. lauren: tell your grandfather i said hi. [laughter] the june jobs report giving the fed chair more ammunition in his battle to cool sky-high inflation with hot interest rates. the "wall street journal"'s jon hilsenrath is here to tell us if today's numbers will do anything to change jerome powell's mind. is rally still intactsome yes, it is. the nasdaq up 6 points, the s&p is up 3, the dow jones industrial average up 46. we'll take it. "claman countdown" coming right back. ♪ pleasure. ♪ (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique.

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♪ lauren: investors trying to figure if out what the june jobs report really says about the economy. it's weird, feels weird.

"wall street journal" senior writer jon hilsenrath says this: if the u.s. is in a recession, it's a very strange one, and we bring jon in now. jon, why is it so weird to you? >> well, i'll tell you exactly what's so weird. it looks like the economy contracted in the first half of the year. gdp contracted, gross domestic product, total output of goods and services, contracted in the first quarter. a lot of the estimates show it contracted in the second quarter too, and then today we had a blockbuster jobs number with an unemployment report 3.6%, another 300 plus thousand jobs created. that's the weird part. how do you have a contracting economy creating a lot of jobs, and that's what i explain in the story. lauren: you call it a jobs downturn. maybe we can get a soft landing here. i'll element you weigh in on that, but you look at the fed funds futures, reading the tea leaves, we did hear from three fed presidents today including

two hawks, waller and bull articled, and they say there's a 31% chance they go 75 points again in september. can we handle that economically speaking? >> lauren, you are an excellent tea leaf reader, i have to compliment you -- [laughter] we're going to get a bad inflation number next week, and that kind of sets the fed up for, you know, at least 50, maybe 75 at its next meeting. but with i think one of the things, one of the substories that i don't really think the market has picked up on yet is that there's a big inventory cycle happening in the economy right now. the journal has been reporting about pretty aggressively. retailers have been overloaded with inventory, stuff hay ordered that took 18 months to get onto the shelves when it should have been two months, and now they're trying to get rid of it all. i think that could create some downward finish on inflation this summer. good news for the american consumer.

and maybe that'll, by september as you talk about, maybe that'll take a little pressure off the fed. so, you know, i think we have to look really carefully at this inventory cycle. and after bad inflation numbers that a we're going to get for the next few weeks, they might start looking better down the road, and that could be good news for the markets. lauren: how high do you expect cpi to be next week in. >> oh, boy, that's so hard to know. over 8%, i think, year on year -- lauren: 8.6. >> there you go. you put me on spot. [laughter] we're going to have another number in that range. that's going to be the headline though. you've got to look underneath the details because gas prices were still really high last month. we're starting to see them come off a little bit. you've got to look underneath those numbers at things like retail products, clothing, what's happening at department stores. grocery stores, things like that. you know, we might be starting to see some of those pressures

settle down a little bit in the next couple of reports, so i'm trying to look ahead finish. lauren: it's debatable whether we're in a recession or not, but commodities have been trading like we are. >> yeah. lauren: i want to talk about wages. for three straight months, we've seen annual wage gains come down a little bit. so now 5.1%. we were just talking about cpi, clearly your paycheck's not covering for the increasing cost of living, but we're seeing that come down, wages come down. >> yeah. lauren: because companies wouldn't be paying workers more, is it possible that they tart to cut prices on things that they charge? i mean, more than just discounting because they have excess inventory? >> i think that's a really good question because whenever you talk economics, you always have on the one hand, on the other hand, right? so on the one hand, wages are not keeping up with inflation right now, and that's not good news for a household. that means their paycheck isn't going as far as their cost of living is going. bad news, right?

the good news though is that because there's some restraint on wages, maybe some of these inflation pressures could be the road are going to ease a bit. you know, workers are not being able to push for that that next round of wage increases. and so maybe that takes some of the pressure, for instance, as you say off the service prices over the next but months. i just think that -- the next few months. i just think it's possible as we get into august and september we might be starting to see the storyline on this inflation story easing off a little bit, and and that could be good news for the markets, it could be good news for the fed. lauren: yeah. and the fed has proven, in my opinion, that they're going to pivot and they're going to be nimble and respond to the data as it comes in. jon hilsenrath, really good to see you. it was weird but that segment was not. the jobs report, that is. [laughter] the jobs report also showed that the vaunt the industry added more than 48,000 jobs last

month, continuing a a generally slower but still positive rate of hiring. wage growth also fell to the lowest level in months, and with that, we go to charlie gasparino with the lowdown on hiring and the impact of inflation at that restaurant in new york city. hey, charlie. >> hey. i didn't think we were on -- lauren: we neither for a second. let's do it. >> my great interview with the owner, the chef of -- do you actually cook as well? in but, of course. -- >> but of course. [laughter] >> he does everything here. it's a small business that's struggling to survive in a difficult environment, in an inflationary environment and now possibly a recession. you just -- i was listening to the, lauren's last interview, gerardo, and they were having a debate whether we're in a recession or not. from your standpoint as a small businessman, are we in a recession? >> well, obviously, been in a recession already for a few

months. >> really? how so? >> how so, because aside that we still cannot find workers, the prices of our food is going up 30, 40% all over, and plus there are no more small distributers to deal with, that deals with us. we have to deal with big companies which have no competitor toes. >> right. >> and on top of that, they charge you for deliveries, they charge you even if they get a ticket while they bring you food. >> so you, so the restaurant industry, in a sense -- and, obviously, when you raise prices, some people don't go out to dinner as much. you guys were in, like, a period of tag nation -- stagflation, lower margins and he lower business concern. >> yes, of course. at the time the prices of everything that we use for our restaurant goes up, margin

shrinks and shipgs all the time. >> okay. so you, as far as you're concerned, we're in a recession. and i'm going to let an economist debate this, if you get a small business owner saying things are bad, that's when you you know things are. the wall street elite eat in here all the time. i know hem, ceos of major companies, donald trump jr. eats in here every now and then. dedelet me ask you this, the wall street elite was very tough on trump are. hay didn't like his attitude or his tweeting. but is there any buyer's remorse now that we're more than a year in with biden and this looks like an administration if that is populated by progressives and doesn't really know what it's doing with the economy? >> from what i overhear, conversations among big businessmen and regular people, the average people, even people that come to visit new york, no

one is happy with what we have at the point that we're at today to with the economy especially and with the government itself. because the government, i think that is not doing what it was elected to do. >> do they miss donald trump? >> yes. you know? i think if he gets reelected, nobody's going to worry about his personality anymore. >> not going to care about his tweet withs, because it'll be a 180 -- >> yes. >> what would be the best thing you think the government could do for a small business person like yourself? what would you say? >> well, the government should start to work, because they haven't done any work since they were elected. they have done nothing in regards of the economy to change the economy because the economy was much better pre-covid and, you know, before this administration with the covid was better than this.

people a had more enthusiasm. now people have no enthusiasm anymore in everyday life and everyday business. so if you miss the enthusiasm, people are not going to move, people are not going to do business. >> that's true. and maybe a nice if big tax cut for people like -- >> well, that definitely would help a lot, you know? >> if you think about it, a tax cut would help because you've had a tax increase with inflation -- >> oh, yeah, absolutely. >> and that's one of the problems of this add administration, they don't understand small business people are facing a huge tax increase with inflation, and they don't want to cut your taxes. >> i don't know why they are not working on the problem and they're not trying to resolve this process. i don't know why they don't want to keep small business alive. >> i'm getting the wrap here, but i want to ask you this: in cities across the nation we have wicked high crime. you're in midtown manhattan. how is crime affecting your

business? is it preventing people from walking through the door? >> midtown was the best place, was the best place to work and eat -- >> right. >> -- you know? butted today it's not true anymore. midtown is just like -- >> is it hurting your business? >> of course it is hurting the business, nobody comes out for dinner after 9:00 at the -- anymore. everybody wants to get back to the hotel. ing. >> because they're afraid to get mugged. lauren: charlie? >> yes. even the taxi cabs -- lauren: yeah. >> -- not running. we're going to have to leave it there. gerardo, thank you. good luck. >> thank you, charlie. >> it's been a year since we did this, and we're still talking about the same issues. lauren: i feel bad for him, charlie. i really do. i feel bad for him, and and maybe the white house is calling him because his phone was ringing off the hook in that interview. [laughter] >> the white house -- i doubt

sleepily joe is calling anybody right now. but maybe the guy that a makes his ice chemocone. back to you. [laughter] lauren: thank you. thank you, gentlemen. all right, speaking of president joe biden, he is at cia headquarters right now at this hour. he's expected to make remarks at any minute. we're going to get an update on what the president is doing behind closed tours at america's spy central. and is we check the big board before we do that, to -- ooh, the gains have fizzled. you can see the reds, greens, reds, greens, that's how it's been. no one knows what it's going on economically speak after that strong jobs report. "claman countdown" comes right back. aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right?

(fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different.

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♪ lauren: we're in the final 15 minutes here. warren buffett announcing that berkshire hath beltway has bought another 12 million shares of occidental giving buff net's -- buff pet's company an 18% stake -- buffett. they have more than doubled this year as a result are of buffett's steady purchases of the company little by little to a massive, pretty big stake of 19% as well as rising oil prices that really took off following russia's invasion of ukraine. well, president joe biden ie minister shinzo abe after he was asaws mated. president biden stopped by the japanese embassy on his way to cia headquarters to pay respects and to commemorate agency's 75th anniversary. with that, we go to edward

lawrence at the white house with more on the president's visit the to the cia. what are they doing? >> the president's gone in. we can't show you live because you can't broadcast a signal out of the cia building, but he's highlighting the 75 years of service that the cia has done. now, while at the cia the president will meet with agents who have worked on ukraine and have been thrust into the limelight because of the russian invasion in ukraine. now, the agency, again with, has been thrust into that spotlight for the work it does pushing back on russian invasion. in that latest push according to the russian state-run media, myrrh putin warned russian companies that there would be, to brace for a full embargo and another european union sanction package. here's the white house again blaming russia for our economic issues. >> all of those, all of the work that the president has done has helped to blunt the price increase. now remember, this price

increase is due to putin's, putin's tax hikes, putin's war, brutal war on ukraine. and that's why we have seen the increase of gas prices, that's why we have seen the increase of food. and so the president's going to continue to do the work. >> reporter: the cia also in the limelight somewhat this year for afghanistan. there was some intergovernment finger pointing after withdrawal of afghanistan. current and former cia agents were frantically working to evacuate those people and their families who had helped the against taliban. not everyone made it out, as you know, and those 13 u.s. service members lost their lives. but the president at the ci e a right now to -- cia to reward agents and highlight the work that they've done over the last 75 years. lauren: absolutely. and that moment afghanistan, edward, is when a lot of people, critics and supporters, say that the president's approval ratings started to dip. that kind of was -- if you go

back and look, the change in the course of everything. edward lawrence -- >> reporter: and it certainly hurt the u.s. on a global stage. it sort of cascaded the events after that of what we're seeing around the world. lauren lauren you covered a lot of ground for us, edward, thank you very much. coming up, a change of heart. the twitter bot battle with elon musk may be taking a turn for the worse when it comes to getting his $44 billion bid for the social media company across finish line. we have details on the unfolding drama straight9 ahead. and look at the, the dow jones industrial average is down 6 points. up and down all day. i thought we'd rally into the close. ten more minutes. we can do it, we'll see. the nasdaq and the s&p 500 are still higher. we're coming right back. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations,

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>> twitter stock price is down 28% since elon musk placed his

bid. according to "the washington post." you have got to wonder if elon musk's team leaked that information. musk has reportedly expressed concerns about the spam account numbers. he doesn't believe what twitter says is true that the numbers are less than 5. mercedes: . kelly, what do we know. >> twitter claiming they represent 5% of ice. elon musk's team reportedly can't verify that number. sources inside the company says management is spooked and highlighting that their team removed a million spam accounts each day. in a response to how many new spam accounts are added each

day, he tweeted, that's the real question. sources in the banking world tell me we can expect a potentially drastic response soon, but the stock would get a boost if he walks. he invested in twitter, he threatened to walk. the dramatic moves work because twitter is backed into the stock buyback. >> to pay 34 for something that was 39 the day before. if he waits it out, i think that's what does happen here if it gets down at all. >> if he can prove twitter misrepresented its user base.

so this could be a good opportunity to discuss a lower price. >> it feels to me if something is going to get renegotiated, it could happen this weekend. tesla shares are sharply higher. do you think that's investeddors saying maybe elon musk will be less distracted if this twitter buyout slows down. >> the fact that it may not happen or get it at a lower price, folks are saying maybe it's good news. >> the closing bell rings any minute. the major averages, tug-of-war. they don't know what to do. all higher on the week, up 2. take a look at big blue.

ibm looking green. shares up 5% in 2022. today's count countdown closer is a fan, too. let's bring in dan gentry. you like ibm? >> i do. even where it is right now, it's still fairly cheap. overall markets come back to 15. it's still trading at a discount. we are clearly seeing a new mainframe cycle that comes into place. we expect earnings to be up 6% to 8%. you are getting in at a reasonable price. and again you get almost 5% in dividends while you wait this out. it's a good place to park some money and good cash flow. >> i want to talk about lockheed

martin. do you think wall street has taken into account that earnings may be a lot worse. >> they are starting to hedge now. they are waiting for the other shoe to fall. you can hear it coming down the steps right now. we don't think they are fully adjusted. it will be very, very difficult for the s & p to come in at the 50-50 target. they will have to adjust down. analysts don't like to make adjustments. they are going to wait until the last possible minute to do that. it's almost unavoidable where cost of finance is going up. interest rates are following inflation. we are going to have an erosion of margins and earnings will

come down. >> the call with the executives after the earnings release will be so important. talk to me about why you like lockheed martin. this is despite the fact the stock is up 21%. it's a very big move. only second to energy. you have a company selling at a reasonable multiple. and we are going to have continued and increased commitments to defense. the threats we have coming from overseas will not difficult min i anytime soon. it has a strong cash flow and you will see probably 2 points of multiple expansion. >> can you do market electronics. >> they had some miscues on their product cycle but we think they will recover from that.

it looks like the market is giving up earlier gains seconds to the closing bell. the dow is down 48 points. but the nasdaq up 10 points. it's a winning week for all three major averages. that will do it for the claman countdown. "kudlow" is next. [♪♪♪] 3/. larry: welcome to "kudlow," i'm larry kudlow. i wish to begin with my sincerest condolences to the family of shinzo abe and the people of japan. i got to know him well during my time in government. he was head -- head and shoulders