fox market alert, we've gloat some museum quality marketplace spinning in the air kicking off the final hour of trade on the claiming count down. two of the plates are kind of a question mark at the moment. we're talking about microsoft and alphabet, the two tech companies reporting quarterly earnings after the bell. ahead of that no question mark here, both are down. we've got microsoft lower by three and a third and alphabet down about 2.5%. one of both of the names on your screen could color the entire market. coming up in the show, our tech panel will tease out the crucial

metrics to watch for with apple, amazon, met tafanely and the rest of -- meta and big tech this week. we've got nasdaq down 227 points. a loss of about 242 so we're not not too far there. we have the dagobas industrial down 232, the s&p down 48 and tank port down two%. so much has to do with the fact that this week is the quarters buzziest for earnings reports with 170 members of the s&p. let's call it confessing how they did from april to june. wal-mart isn't even one that reports this week. wal-mart doesn't report for a couple of weeks but that plate shattered last night when the big box retailers preannounced numbers by slashing its own profit forecast for both the quarter and the year. wal-mart drop of about eight% in shares at the moment you see here. not even the worst of the

session. worst of the session. keep in mind, the stock closed yesterday at $132. right now it's at $121.37. wal-mart says due to spike in food and goods, its customers turning out to be way more frugal than the company expected and they had to come out and preannounce. the shardk from wal-mart and kohls and costco and target lower by four% and costco 3.5%. shares getting slashed, 14.5% right now. the ceo overcomers ken millions of small businesses used to conduct transactions and keep businesses running saying in a blog post his bet to ramp up hiring has gone the wrong way as cost conscious shoppers return to brick and mortar stores and

shop afy will have to lay off 10% of the work force. the stock by the way at $31.35 what's lost 77% year to diet. now, not all bad news. mcdonalds, 3m and coke spinning higher and investors embracing all three after bullish earnings reports before the bell. coke up about two%, mcdonalds gaming 2.8% and 3m up 5.5% and coke is after ceo was asked about risk in the second half and said "don't get too lost in the weeds of the second half and said we don't know how it's going to turn out". big question marks here; right, folks. all this on the same day the federal reserve kicks off its two day meeting where tomorrow during this hour, that's why you have to stay with me; right. set the dvr if you can't. chairman jay powell will explain

himself and a another 75% basis hike. bring in scott hullman and tom hays. are you building a fresh or maybe even just updated investment thesis after wal-mart unleashed a skunk and, tom, start here ahead of big tech earnings. >> yeah, well, i think what you saw is the shift of consumers, particularly at the low end, shifting because they had to spend more on food and energy and less on discretionary items. you want to move up the food chain if you have exposure to retail, we like retail without risk and points to amazon. they report on thursday and we like amazon because it's been down 40% seven times in the history and always works its way back to new highs. this time will be no different. if you look at aws and advertising business alone, they'll do $45 billion in omitterring income this year --

operating income this year and that's $1.1 trillion. that's the current value of the company. you get the retail business, whole foods and prime for free and that's the way we would play retail on any weakness after thursday earnings. >> scott, tell me how you feel about what the message comes, what it actually kind of gels with regarding what wal-mart said, how other stocks are reacting, and not just talking retail, are you tweaking or altering any investment thesis for your portfolio and the portfolios you handle? >> so, first of all, when wal-mart came out and made the statement last night and today you got the consumer confidence index number. we have the fed. today, tomorrow, and then on thursday, you got gdp. these are all things people are watching very, very carefully. the fact is that while we had seen improvement in the market so far this month, this has been the best month so far this year with seeing higher lows and

higher highs and we're still remaining defensive because we think we're going to go back. yes, we'll go down, maybe we set another set of higher lows, which is what we're hoping for, but we have to see that test and see if it holds before we can turn around and make any type of adjustment. the risk level of just too high. fact is we believe that we're in a recession, even if the gdp number comes in slightly favorable here on thursday. the fact is: consumers are hurting and they're hurting because of energy. that's one of the reasons why we like some of the big warehouse retailers such as bjs and costco because not only are people looking to turn around and bulk up on stuff for lower prices, but they're also benefiting from the fact that they're selling gasoline and selling gasoline is really been a help for them. >> okay. so let me break out of the retail picture and, tom, there

are entire sectors well off that those depths that were plumed since the start of this year, bio tech; right. bio-tech up about 30% off the floor. but are you indeed looking at some names and saying now they're cheap enough and we don't care what big tech is going to do. apple, whatever, we'll talk about that in just a minute. you know, i'm more interested in sort of these side window trades. >> i agree, liz. we've been talking about bio-tech on your show and it's up 30% since the may lows and we think it's just getting started and we love this group because they can perform in a smaller-growth environment historically and saw the imf downgraded global gdp today and fda back to approving regular drugs and focused on covid for two years and those are cattilies and can mall spirits are back. we've seen big multibillion dollar deals in the last two months with a half dozen starting with bio-haven and cgen

with $40 billion and multi-decade valuations and operating cash flow et cetera. there's growth in bio-tech, liz. >> scott, we just hit a new session low for the dow jones industrials, we're now down 271 points. folks this is why i tell you, every minute of the final hour counts the most because we start to see perhaps some momentum in one direction or another. scott, we're talking a lot about the fed, we're talking a lot about inflation. we could look at energy, natural gas as well with the highs of this session but still pretty heady here, $8.84 and the after market was more than $nine. i think i last looked at it and we had gas about $9.75. there's so many issues to look at plus the earnings pictures which is not in the aggregate that bad. so far, most of the companies beat on ps and 70% on revenue.

are we missing for the tree s? >> the market is forward looking and it's not rear looking and the fact is, people are concerned about what's going to happen in the second half of this year. you know, back to school sales coming up, you know the numbers on that very, very important. that's also gone to point toward what's happening with the holiday season and people are very, very theory right now because -- leery because their dollar buying power dropped. the fact is as consumers, we can't go out and buy as much as we were a year ago and this is where people are looking at it as far as their investments as well because if companies can't do better because we're not spending more, how are their stocks going to do better? >> they didn't realize how good they had it; right? the heights of the pandemic and everyone sitting on happen tops and amazon and wal-mart. thank you, guys and folks. we are at lows. s&p down 54 and nasdaq lower by

2346 but, hey, it's super -- 246 but it's super tuesday in deck land. the almightily u.s. dollar and the strength shriveled behind google, microsoft and google and microsoft reporting in less than an hour and how will the rest of the tech fare report with the likes of amazon and apple? we're about to prepare for you all of it next with the closing bell ringing in 50 minutes. the claiming countdown is kicking it into high gear and we're coming right back after this.

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okay. so with apologies to joanie

mitchell, we're going to look at clouds from both sides. microsoft minutes away from releasing its fiscal fourth quarter report. it is expected to post earnings per share of $2.29 of revenue of $52.44 billion and analyst do expect google parent alphabet to show profit of $1.28 of share on revenue of $69.88 million for the second quarter. now, ahead of the reports we're going to keep checking the numbers because they matter. microsoft, by the way which has lost 25% year to date compared to the s&p, which is down 18% year to date, is down about three and a third percent right now and alphabet google about two and a third percent and it's been clipped 27% this year. both have made their clouds services a centerpiece of their businesses but just as soon as those two report, make no mistake analysts and investors looking ahead to meta's earnings tomorrow after the bell and apple and amazon reporting on thursday. ahead of the big report, they're

tinged in red. microsoft already trimmed its earnings out look in june due to the black cloud of stronger dollar raining on the parade. the cloud business, see what i'm doing here, could the cloud business counter some of the storm? senior analyst and managing director at da davidson. tom, what will you be really scrutinizing here, and i'd like to say the cloud business because we could start with something positive, that's been a great revenue generator. >> sure, if you look at amazon in particular, their cloud computing business and advertising business have been bright spots. when i think about google/alphabet's earnings and microsoft's earnings, their respective cloud computing divisions thought to be doing very well. the challenge as you pointed out is that they're both multinational firms and while the strong dollar is wonderful for americans who want to travel in europe, it's not so good for multinational firms.

you're seeing some 20 year highs versus the japanese yen up at parody with the euro and strong against the british pound. cloud computing is strong when alphabet and microsoft report and amazon later this week but for the multinational firms, the strong dollar is a unique and new challenge in the june-quarter. >> dig down into the cloud business first because these are some heady numbers. the market share has pretty much remained static looking at the rankings here. number one of 600-pound gorilla here, amazon web services, 33% of the market's share. azure is microsoft and google cloud pulling up the rear at 10% and what ask it about the cloud business that is so valuable at this point that it's sort of taken -- i don't want to say the lead over ad sales but where do you see both of them in relation to each other if that makes

sense? >> so the good news about cloud computing versus advertising is an argument can be made it's less of a discretionary spend and more of an investment for companies to save money. when you think about companies going from their own servers to google's or amazon's or microsoft's, generally speak that's a money saving effort, and the good news is you've seen improvements in travel. a lot of sectors that had scaled back their cloud computingousage during the early stages of the pandemic, so i think, again, cloud computing right now is in a good place. advertising especially digital advertising is in a very difficult place. i'm concerned they're entering a recession. >> i don't like to make the comparison between google and snap because they are two very different businesses, but snap was a pretty big disaster there.

you can certainly trianglate or dis-'til something from what snap reported in its numbers so therefore i'm looking at ad sales and thinking everybody is going to have trouble with this; am i wrong? >> so i think apple essentially broke snap chat. that was kind of the initial challenge for snap chat and facebook and others and apple's efforts that are privacy related and making it more difficult for advertisers to determine does their social networking advertisement work? for google, their search optization benefited from apple's move and advertisers said i'm going to put more in search engine optization and that continues to work and i'll scale back my budget on social networking. whether or not youtube is immune to some of the digital advertising pressures of snap chat, that'll be interesting to find out. >> yeah, indeed. we're about 40 minutes away from microsoft and google reporting.

you know, we bring up meta and talk about the strong dollar. we talk about ad sales. we have to talk about tiktok and the competition that it has just shoved in meta's face, and you see it with yesterday's news where kim kardashian and kylie jenner in a very ill timed -- was it an instagram post? it was an instagram post and said stop trying to be tiktok. meantime meta reports tomorrow. that is certainly not good news. the instagram piece of this they've tried to get attention from reels and that business but tiktok is still the real leader here; right? >> so we're working on xy paper that we'll be presenting at big sky conference at august 21 and august 23 and talking about disruptive force of tiktok. for facebook meta it's an incredibly well run company, and the play book in 2022 is very different from the play book in

2012. there's too much regulatory heat on facebook/meta and can't acquire the competition it's disrupting. when you look at portfolio of brands using instagram to try and combat tiktok, that's the best facebook/meta can do right now. >> okay. and a quick mention of apple, we want everybody to know that a good chunk of apple's revenue comes from outside of the americas. what is the foreign exchange head wind risk you see with the strong dollar? >> there's significant risk to apple's earnings. management indicated a 300 basis point negative impact in the june-quarter expected from con seizure disorders that could be that much from the september-quarter and it'll be challenging for apple with a large percentage of sales outside the u.s.. >> good to see you, tom. tom forte and he'll be glued to

the reports that come out after the bell. yes, i have actually embraced tiktok. i hope you follow me, tomato. tom. i'm on tiktok@redfoxliz. i do morning reports. wrong answer. no answer is wrong answer. all right. tom forte, thank you very much. forget bluegrass, kentucky. did you know this is now counting on bourbon tourism as a key summertime draw. we are headed live for jim beam's headquarters where its iconic spirit has some calling it the sonoma of the south. closing bell, 38 minutes away. dow off the low. take a little bit of a breath there, but we're still down 223 points and s&p lagging 47 points and nasdaq that's the loss leader down about 1.9% or 224 points to the downside. we are coming right back. &%c1

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we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones fox business alert for you. we're looking at wall street's fear gauge and we're 27 minutes after the hour and cboe volatility index. right now it is spiking about 7% at the moment and this gives you an indication of little bit of anxiety, which we talked about at the top of the show here in. in the markets the down down 252 -- dow down 252 points and people are anxious and chewing their name nails and chewy getting chewed up after web bush

rated outperformed to simple neutral and the rally on the pet product stock gone too far. chewy spiked 57% since just late may and web pushed these downside risk as consumers zip up their wallets and shop for only the best of the best deals. wet bush raised from $44 to $35 right now, you know, we're looking at this stock and what web bush says not optimistic about chewy's plan to launch advertising on its website since most consumers place recurring orders and visit the site infrequently. the future stock at this hour after the company delayed the start of production of its first vehicle. the ff91 electric suv. the ev maker plans to start production in the third or fourth quarter instead of this month citing supply chain issues. stock is down about 7+% at the

moment. veridae needs to raise $379 billion by the end of the year and shares $2.15 by the end of the moment. tesla's stock is falling at the moment by 4%. germany announces it's going to reduce electric car subsidies next year as the growing popularity of evs makes subsidies unnecessary. everybody wants one, why do you need to lure them with subsidies. volkswagen has the largest share of electric cars in germany at 20% followed by tesla at 11%. question: will a week make a difference in the death match between twitter and elon musk? a court filing today shows that tesla ceo, yes, elon musk, asked a judge to postpone till september 17 instead of october 10 requested by twitter

and granted by a judge earlier. the social network is suing musk to honor the $44 million takeover agreement and musk tried to push till next year but last week a delaware judge sided with twitter and ordered an october trial that left to musk and twitter to work out the very precise details of the schedule. twitter is up half a percent. just a half an hour before paramount global reports earnings and goldman sacks getting a double downgrade from buy to sell citing macroeconomic head winds on the ability to fulfill a streaming agenda and hitting 4.6% and bank slashed price at $20 at $24.18 right now. ? the same note, goldman trimmed disney price target to $130. right now disney at $99. it reinitiated coverage of

warner bros discovery as a buy. the direct to consumer opportunity "looks materially undervalued". warner bros discovery to 41 and netflix down 2.5%. travel to the sonoma valley is so pre-pandemic and latest buzz surrounding tourism not in california's wine country but in the sonoma of the south: kentucky's signature bourbon pouring $9 billion into the bluegrass state's economy every single year. the post-pandemic boom is aided by the lifting of tariffs on the which i say i can by eu and united kingdom last month. grady trimable with the assignment of the day at the jim beam distillery on bourbon tourism. >> yes, in the birthplace of

bourbon, liz. another tough assignment for us and i'll do the honors and we're honored to be with people who know a thing or two about bourbon because they are the great grandson fred know and great, great grandson freddy know of jim beam himself. freddy, your company jim beam poured $60 million into this facility to bring tourists here to make it a destination like napa valley and you don't mind that comparison? >> no, absolutely not. i think the opportunity here in bourbon country is very similar to what napa had seen and grown into and a lot of synergy around ore facilities and distillery here, there's over 50 representatived in the kentucky distillery association and a lot about driving education to the consumers on our campuses just like we're here at the kitchen table. so we can prepare food pairings with our whiskeys and educate people on the flavors that bourbon has to offer here in

kentucky. >> and, freddy, or fred rather, the uk and eu just drop that had 25% tariff on american whiskeys being exported to their countries. already we've seen exports increase by about 9%, and you've basically made it your life's work to take bourbon to other countries and sell it there so you're not just trying to reach tourists in our country, but you're trying to make bourbon tourists elsewhere around the world too. >> oh, absolutely. we're all overseas educating people on bourbon is what social it'sall about and taste it and experience it and loyal fans here to the u.s. and see a lot here at the kitchen table and our campus to see why jim beam is made. >> what's their perception like about bourbon compared to scotch or irish whiskey or japanese whiskey? what do they think about bourbon that you have to change their mind about? >> a lot of them saw it as at

cowboys bellying up to the bar and taking a shot glass and head back grimacing in pain. it's not like that. get it pleasing to your palate and enjoy it. it's not throwing head back, it's sipping and savoring. that's all they've seen in the movies. this ain't the movies, it's real life. you're in kentucky and here to have a good time. that's what it's all about. >> this is the real deal, liz, you can come see it for yourself a million and a half people did last year, and they're expecting 2022 to break records in part because of jim beam's new facility and the $60 million they put into this place. i mean, it is just a fabulous place to tour and you get to learn about the history of bourbon. by the way, they've been making bourbon on this site where we are since right around the end of prohibition. they started in 1935 and there's a rich history here and all across the bourbon trail. >> not before the end of prohibition. no, no, they wouldn't do that.

fred, he doesn't seem to be the guy that's pouring bourbon into a cristal glass and sniffing it. he's saying it's got to be part of the experience like a fine wine now. >> it's like tasting wine; right. it's a high end experience, especially -- you know, liz, a lot of people don't know, you make high end whiskeys, $100 bottle whiskeys. >> absolutely. find the product that suits your pal lets and we have different ones to suit different people's tastes. if everyone had the same taste, there'd only be one kind. >> i am told this property has a rock quarry attached and that's what they did during the prohibition years. that's what they tell me and i'll pass that along to you. >> okay. good to see you and i love that i like the jim beam family and the answers are such a great story.

thank you, grady, very much. grady trimable. we are about -- let's all it 24 hours away from fed chair jerome powell live in this hour speaking to the cameras and getting grilled by reporters, but what will they ask and what's he going to say about getting inflation down because we haven't really seen it yet. our topnotch fed panel here to tell us if they think powell reached peak hawkishness. closing bell about 24 minutes away. red on the screen here, little bit of agitation in the markets but we're here for you so don't move.

we have got to revisit a stock re-profiled in this hour yesterday. opal fuels right now it is flat, but you have to look at the

renewable energy company shares through a 24 hour prism. o pal turns them into a diesel alternative. the stock, which was down 2.5% when our interview began at 3:40 p.m. eastern, light up like a christmas tree. as we were talking, investors started to pile in. opal turned positive and then spiked as high as 13% before it was halted for volatility at 3:50 p.m.. once opal fuels reopened for trading right before the closing bell, the stock had surged 27% over just a matter of minutes. wed like to think it's the latest example of rabbit fans of the countdown moving on stocks when they see a opportunity. we don't endorse, we just report and interview, but people liked what they saw. we know how expensive diesel

fuel has become. when there's an alternative, people piled in. opal shares at $10.02 right now the federal reserve kicking off two day policy meeting this morning. it is expected to end in a 75 basis point rate hike tomorrow afternoon. the announcement on that will be 2:00 p.m. eastern. wall street has been expected at least 75 basis point hike since the fed raised interest rates in june. the market is showing a 25% chance, albeit a small one but still, that the fed could go even higher boosting rates historic full percentage point. well, what is powell going to say and in this hour when he faces reporters, what do we need to hear? joining me now is the global fixed income head andy brenner who says he expects his company to take a hawk on stage tomorrow and has to get inflation down and barren senior reporter liz. she was expected to see the

pinnacle of the feds hawkish pair tomorrow. actually it's lisa. i saw liza. i know it's lisa i read your stuff all the time. andy, what are you expecting? any chance of a 1% hike? >> no chance at all, liz. it's got to be 75, it'll be a hawkish 75. many out there that think he'll be devilish. in the city commentary bank this morning. i don't see it. he has a limited opportunity and window to raise rates before the country starts to increase the recession fears. he really should have been raising rates last year but that's -- we missed that so we can't go back there. if he doesn't get aggressive now, the window will close and same thing goes for the ecb. they both have to get aggressive as soon as they can, get it out there while they can, and hopefully move ten years from 275, 280 where we are now back to 3 and 3 and a quarter. >> ten years is going in the wrong direction. folks look at it right now.

i'm looking at a print of 2.79%, 2.75% here and two year at 3.05% and we have inversion. lisa, what are you expected and when did you expect the fed to turn dubbish? >> thanks, liz. i think andy is right about the 75 basis points tomorrow and not surprised with the full point. that's in part because some of the data points have moved in the right direction. first and foremost inflation enationexpectations are inflated the hikes for the remainder of the year and going to have to get more aggressive. jerome powell told us it's not a common thing. this will be the last one, last hike of the magnitude before the

increment start getting smaller through the rest of the year. i think the big question for investors is when the feds start to cut rates. a lot of people are starting to expect the fed to cut in early 2023. it looks like that is probably too soon. >> yeah. might be. i want to show lisa's piece from this morning in barren. youd" the head of global policy who says, this makes perfect sense requesterring what happened with wal-mart last night, the markets are underappreciating that inflation is much higher than at any time in the modern fed era. the labor market sure is much tighter than normal, but to that point, andy, and lisa's point she highlights here, where do we see the real danger still ahead? we want to prepare our investor audience. >> liz, the biggest thing the fed can do is overtighten and as much as i think they're going to be hawkish tomorrow because they're window is limited, if they send the economy into a spiral of a recession, a bad

recession, that's not going to be good. on the other hand, you know, right now we see inflation coming down quite dramatically from 9 to 5 and that's still 5% with ten years at 280 as you just pointed out. i don't know how the fed gets from 5 to 2 and nor do i think 2% is the right number. there's so much that's changed with covid and supply chain and china is no longer the deflation element of u.s. inflation. i don't think 2% is the right level and the fed is in a real tough spot and if you have 2% negative gdp and how can they keep raising rates. >> okay, we're tight here. we got to run, lisa so i want a short answer. andy said janet yellen is supposed to have a news conference after the gdp report on thursday. what are you expecting here and how serious could this be? >> e we don't know. some comments are expecting a

small amount of growth in the quarter and that line is predicting another negative print to the quarter. some of the data releases this week will give us more insight into the future path of the policy. >> andrew, lisa, great to have you both. read lisa's pieces in barren. they're where he will cent. 2:00 p.m. earn with the fed rate decision and hey, what they decided and followed by jerome powell's news conference carrying into the 3:00 p.m. eastern hour and the juicey parts come. the questions from the press, we will have complete postgame reaction and analysis tick by tick for the markets here on the claman countdown. dow is down 269 points. we're coming right back.

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♪. liz: all right. coinbase just made a new low. they are crumbling, these shares right now down 21% to $53.10 a share. in reaction in pardon to a bloomberg report that securities & exchange commission launched an investigation into some of its crypto listings. a huge battle, charlie, once

again of securities versus security. >> 10-q, they have been under investigation since at least may. if you read the 10-q, their filing with the sec which they have to disclose material events. one they received subpoenas from the sec this is in may they released it. stories are coming out now. they actually released receive this in may but the story is now released. this is why the market is crumbling. in gary gensler believes xrp is a security, which he does, obviously, if they win the case, the ripple, xrp case he also believes etherium is security. unregistered obviously because ethereum is unregistered. he said everything is on the table concerning crypto. everything maybe except for bitcoin could be illegal.

if that is the case, coinbase is actually selling or actually, coinbase's platform is actually transacting illegal securities. that is what the market is saying. >> they're not the only one if that is the case. >> they're the leading one. that is why they go after the big guys first. brad sherman, from colorado? liz: california. >> california. he spoke to my producer ellie he was talking to gary gensler bringing cases against exchanges that, that actually allow these non registered securities to trade on their platform. when you start putting all this together, okay? it is interesting he said that last week. the bloomberg report comes out today. says that to us. there is something going on here and the market is starting to freak out. i'm not lawyer but i talk to crypto people and securities lawyers, if everything except for bitcoin is theoretically a

security, then coinbase's business was, trading illegal stuff. liz: or illegally trading. >> it was allowing illegal stuff -- liz: that is crazy. >> i'm not saying i endorse it. i've giving you the logic. that is why the stock is off so much. coinbase we should point out -- liz: bitcoin down 4 1/3%. >> we should point out that coinbase says it works with the sec. it doesn't, it doesn't allow securities to trade on its platform and they have a whole thing about it. the market really doesn't buy it. the market is saying if you believe what gary gensler is saying, you look at the securities laws, these guys could be really in trouble from a business standpoint, more than just a normal ebbs and flows what is going on in the digital currencies trading off because of fed raising rates, all that

other stuff. i was always saying xrp, ripple case that is the case to watch. that is the case to watch. this is the investigation to watch. because okay, if xrp loses, the sec wins against ripple that definitely opens the floodgates to ethereum and all this other stuff where they can really go after them and, that is when coinbase has a real existential problem. so again, a lot's riding on ripple, grp. a lot is riding on coinbase. --xrp. liz: market erased 60 points off the lows. >> after i was talking. >> dow is down 223. s&p down 44, the nasdaq down 218. joining with us 900 million in assets unmanagement, strategic wealth partners coo senior wealth adviser, tony. tony put us into perspective

with 24 hours before the big fed moment. >> we have action-packed week for the market. microsoft, alphabet reporting. wednesday, tomorrow the fed is meeting. meta reporting, gdp, apple, amazon, however it was interesting, yesterday was the lowest trading volume day of the entire year. that tells me there is a lot of anxiety out there, investors are paralyzed. rising interest rates are taking a toll on stocks and bonds. the last fed survey had some disturbing quotes. economy is in shambles. when i take this into perspective i'm looking for all weather stocks in my clients portfolio. liz: we have storms all around. what are the all weather stocks? >> we like cvs right now. their business model allows them to thrive regardless of the

economic back drop. they have three key areas of the business model. they are one of the largest health insurance providers. they provide a pbm division which helps employers manage increasing drug prices. brick-and-mortar stores, pharmacy, minute clinic, high margin convenience store items. we expect them to be in line just like united health did last week. liz: i get the cvs picture and as we continue to watch these markets at the moment the dow is down about 239. it has been a tough day. walmart news did not help, as we said imminent, microsoft, google numbers, amazon as well, meta tomorrow, tony give me your best guess about what happens post-decision tomorrow? we have about, sorry, 15 seconds. >> post-decision, a you know what? i hope that they don't backpedal. if the economy starts to get worse, the worst thing i think

the fed can do is backpedal on their monetary policy in jacking up rates. liz: i think that is very much the case. tony we'll watch it. great to have you. here comes the closing bell. [closing bell rings] liz: red on the screen. big earnings reports. stay tuned tomorrow, "the claman countdown," the live fed news conference you can't miss it. "kudlow" is next. ♪. larry: hello, folks. welcome to "kudlow." i'm larry kudlow. so, looking at the polls, whether liberal, conservative or someplace in between it's very clear that the country has rejected joe biden's administration and his radical big government socialist policies of massive federal spending, extreme nutty climate activism, taxing the wealthy, the successful, taxing all business large and small,