do is make you sort of buy into the titles of these programs and sales pitches of the programs so just be very, very careful because it just doesn't make sense. douglas laid it out perfectly, getting from here to there, it may happen but it'll cost a whole lot more money and it'll take a whole lot maritime. in the meantime, this last hour of trading, liz claman, i'm rivetted because the next thing after this is the jobs report. elizabeth: yeah. oh, yeah. we are so hon it right now because that's tomorrow, 8:30 a.m. eastern but we know that your hour and my hour tomorrow will be the most important because it is the biggest piece of data; right, charles? charles: absolutely without a doubt. elizabeth: we need to kick into split vision mode because we need you to look through the markets through the layoff lens and trade lens and it's tinted ahead of tomorrow's jobs report and oil emerged by hour moment

by moment as a major story, specifically the level crude touched just before 1:00 p.m. eastern when it dropped to a session low around $86.60. we are in the after market right now so slightly above that $88.42 but this is the first time oil has dipped even below $90 let alone $87 since the start of the russia ukraine war. we'll get our oil expert trader phil flynn into the chair and he'll join us momentarily and he's warning that price drop in oil and gasoline resulting from the screeching halt in demand will reverse due to an important date coming up on the calendar. but this chill you're seeing, gasoline down 4.5% in the after market and the chill in demand noted by cleveland fed president speaking before the economic club of pittsburgh. she said she's seen signs the rate hike the fed has put into place are "now working to tamp

down demand"but not yet seeing the impact on inflation. prices are still high. get to the markets, x oil, what is the deal with this lack of a breakout in the s&p 500? the index has now crossed the unchanged level, 98 times so far this session alone as both the bulls and the bears cool their jets as they wait for what could be the big decider: tomorrow's jobs report for the month of july. the unemployment rate supposed to remain at 3.6%. but at this hour, let's put up wal-mart shares. right now down about 3% on a new wall street journal report that the retailer is cutting hundreds of corporate jobs as part of a restructuring. been just over a week as you will remember since wal-mart warned its customers are becoming more price conscious and shifting to necessities like food and pressing pause button on electronics. well, the tech sector started feeling that shift a few months ago but look at how the sector

has showered its employees with # pink slips in the last month. crunch base saying for july, 64 u.s. tech biggies sent more than 32,000 tech workers packing. obviously robinhood, the most recent and yesterday the online brokerage is slashing 3-point 2% of its staff and investors feel the company is finding fiscal responsibility now and we await tomorrow's july jobs report, get to floor show trader pete fitzgerald and serge. serge, mister is talking to firms struggling to find workers. if she's talking about her region, you know i lived in cleveland and they're home to sherwin williams, parker handout fin, p and c all publicly traded companies. how are you as a trader and investor balancing the tech layoffs that we just pointed out with the help wanted signs still

proliferating throughout much of america? >> well, the labor market is one of the last ones to react to recession their or prerecession their data points and the last thing we need is for the fed to overreact right now. we need a not too hot or not too cold labor report. my belief is a stronger report or weaker report would provokefear or overreaction andm investing in a value and equality places like disney, nike, amazon among the three names and my shorter term book to get to survive this current market volatility in our favor now, i'm buying growth because growth is scars so i'm buying name like a and d, my largest holding like nvidia and semiconductor equipment term and staying along the staples because that's my stability and my dividend payments come from

there and i'm staying more to the defense contractors because i see their customer base quite elastic going forward 5, 10 years maybe longer. elizabeth: keith, let's get your opinion ahead of all important jobs report tomorrow and again, we want to flag everybody, you've got to be here tomorrow in the final hour of trade because the reaction could be awfully interesting here depending on what the number. the cleveland fed president is saying interesting stuff and we're seeing signs policies are working on demand side and not yet inflation and jobs seeing a lot of help wanted signs out there and it's interesting and speaking to the economic club of pittsburgh. does she not know the pittsburgh steelers are the brown's biggest rival? my goodness. that said, you know, the serge is looking atd staples. what do you see as a staple stock you want right now? >> i am with the serge on many of the points he made.

looking for dependability and growth ahead of the jobs report because we're in a weird space where bad is good. if the number is extreme on either side, people are count intuitively run the other direction and could go gas on, gas off in an instant. i want to stick with lockheed martin with a great day and a&d and products that are in a great market and that's companies with great ceos. elizabeth: your fav for some time is apple up around 165 and change. are you adding right now, are you waiting for a different price here? >> no, as a matter of fact i'm buying consistently and hope i'm smart enough to buy more. i think that stock will be back in the 180 range before people realize it and any kind of stability whatsoever and even a survival instinct, that's a stock not going away. people are giving up lots of stuff and wal-mart changing

consumer mix and product mix but nobody state queens giving -- is giving up their iphones. elizabeth: serge, bank of england implemented biggest rate hike in something like 27 years. it was an 8-1 vote. we know that there of course is not an august meeting for the federal reserve but come september, what do you really believe is going to happen versus what you hope is going to happen with the rates? >> well, i hope they'll pivot somewhat at jackson hole this month. i think they're going to have to be a little more nuanced in their approach going forward. they've been aggressive so far. we know it takes nine months, maybe longer for what they've done to hit the main street economy and going into september, quantitative tightening will ratchet up and maybe double. if you have to raise interest rates, maybe a quarter of a point at a time. you don't need to be more aggressive and see how your

aggression plays out going forward. i have a feeling mr. and mrs. america are going to get hurt. elizabeth: housing stocks, this plays into interest rates and i find it really interesting that the 30 year fixed fell below 5%. i mean, this is the average here that sometimes we get from bank rate, 4.99%. we've got the 30 year treasury yield at 2.96% but as we begin to really watch these mortgage rates, the housing markets people keep saying oh my god, it's going to freeze. we had a report yesterday about the housing market and how mortgage brokers are whittling their thumbs like the may tag repairman with not much to do. any opportunity in housing stocks >> keith? stocks, keith? >> no, i don't. to the serge's point, mr. and mrs. america are going to get hurt here and this is the absolutely right spirit of the move but the wrong intention. a lot of unintended consequences and i'm not keen to touch the stocks and i'd rather be in the lows. i'd rather be in the home depots

and i don't own them at the moment but people are going to make what they have better. elizabeth: gentlemen, the dow is sight chicago looking better and was down 159 points earlier and we're down 69 at the moment and here the home builder moving up into the green for this session. again, watch this s&p, now it's flat. coming into the top of the hour, you guys, we were crossing the unchanged line 98 times and add another four or five times to that. we'll check in just a few minutes. keith, serge, great to have you both. thank you so much. crypto's loudest voice cheering on washington dc. ceo sam bankman-fried was on earlier this week showing his support behind a new bill to regulate bitcoin. one of the bill's bipartisan author is here next to tell us what he hopes to accomplish. republican senator of arkansas on why the bill's backers are not choosing the very agency that's pushed the hardest to serve as crypto's watch dog.

closing bell, 51 minutes away and looking at red on the screen for the dow and s&p and nasdaq popping up into positive territory and s&p just turned positive by just a third of a point. russell is down, let's call it flat. we're coming right back. just getting started here on the "claman countdown".

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elizabeth: a major endorsement for the cryptocurrency world. today black rock announced its partnering with coin base to offer bitcoin trading services to its constitutional clients -- institutional clients through coin bank line. coin base has been jumping dramatically and right now up 10

and a third percent and far right part of the screen. the partnership with the investment giant is a major win for coin base and the cherry on top after the crypto exchange of stock had a stellar july jumping more than 30% on the month. there's another perhaps bigger endorsement brewing on capitol hill. leaders of the senate's agriculture committee unveiled a bipartisan bill, the digital commodities consumer protection act. if passed, it would give oversight of bitcoin and yeter, just those two in the crypto space to the commodities trading commission. joining me live is the panel's ranking republican and a sponsor of the bill, senator john boosman of arkansas. we had people reach out to the senate democrats sponsors this and debbie of michigan and corey booker of new jersey joining you. we're grateful you're here. this strikes me as very interesting. your group picks the cftc and

not the securities and exchange commission to be the watch dog for bitcoin and ether. first, walk us through the legislation. >> well, we've got a great team as you mentioned and very, very bipartisan. this is all about consumer safety, and that's what we're trying to accomplish with the bill as we talk to the stake holders, really as we talk to everybody almost everybody in the industry, the consensus is that most of this needs to be regulated as a commoditity and that's why the commodity futures regulating and trading and it's a very simple bill. because of the simplicity, trying to get some consumer protection and i would argue one in five americans have some, you know, touch in this in some way that not only is important to consumers, but at some point it becomes something that we should be concerned about regarding national security issues as far

as it being a problem. elizabeth: you guys, you four, are as you just said really focused on the consumer and protecting the consumer. if you look at the industry, we as a business network look very closely at this, they are dying for this kind of regulation because they just want clarity. they want to know the rules of the road so they can continue forging ahead with what is a very mason industry, but one in which they truly believe in. as we look at what parts of this bill that we have questions about, what i find very interesting is going back to what you just said, you're looking at this as a commodity, hence putting it before the commodity futures trading commission. you're aware that gary gensler of the sec wants a serious land grab when it comes to being the watch dog of crypto. why did you pick cftc over fcc? >> when you look at the crypto

world, it is so broad and all kinds of things going on out there, i think almost everybody agrees that these two aren't commodities. so we're working with chairman gensler and chairman denim and i had the opportunity to work with them and i was the subcommittee chair financial services when he ran cftc, but really to get this right so they're going to need to be talking and there's going to be a lot of work that needs to begun. a large part of the crypto industry will be regulated by the sec because it is securities. so we're trying to get this sorted out in a simple way so that we can get some regulatory certainties as the industry wants and very importantly as consumers want. >> industry and consumer plus don't we want to be at the forefront in a safe way with digital money because it feels like that's the next evolution or at least part of evolution when talking about money.

benom is the head of the ftc and servinged as senior council to debbie stabenow a couple years ago but looking at all the protections and regulations you'd like to see, we've had some situations lately where, you know, you've got crypto wallets that have been hacked. fake tokens coming up. how seriously did you think about this legislation and figuring you'd only tackle bitcoin and ether and not xrp or any of the u.s. dollar coin? >> well, we've had a great staff working on this, again, talking to the stake holders. all of those things are going to need to be tackled. elizabeth: yes. >> we're trying to get the foot in the door and it's going to -- a lot of this is going to depend on chairman benom and chairman gensler working together because some of the things you're talking about, it's not clear as to what they are.

but we wanted to not be too prescriptive if we go down that path, we simply won't be able to get anything done. so this is an effort to actually get something done and then working with the two regulators and the securities exchange, chairman gensler is going to have a large part of regulatory ability with various aspects of this, but i think the vast majority of it will wind up in cftc. elizabeth: gnat torr, his whole point, and we've had him on the show, is he sees these as securities, many of these tokens as securities, and hence they have not as he would argue, they've not been abiding by rules that are held very closely towards the securities industry. you're coming out and saying they're commodities, they're a currency. >> well, we're not saying that in all of them, and i would agree that many of them are securities and they need to be regulated. right now it's the wild west. as i said earlier, this is not something that's going away.

when you look at it worldwide, it is a tremendous entity that's growing and needs to be regulated not only for the consumer but also in the sense of, you know, having a situation where this could create, you know, problems that really could disrupt the financial total industry. elizabeth: do us a favor, senator, please get one of your democratic cohorts on this bill to come appear with you once again on this show, either debbie or corey booker because our viewers would like to see sentries bipartisan movement because it's good for the country. >> we appreciate that. it's not a marker bill. it's something that all of us senators are committed to getting past elizabeth: absolutely. we'll watch the progression. thank you, sir.

>> thank you. elizabeth: russia's war in ukraine sending oil prices skyrocketing over the past months but, wow, have you seen black gold lately? a range of economic factors have dried up the oil patch as the price heads south. phil flynn, top trader, top oil expert here to tell us what's driving the selling and why, yes, gasoline prices that have dropped precipitously may just be teasing you and may be back up considering there's something coming up on the calendar he'll tell you when we come back. closing bell is ringing in 38 minutes, nasdaq up 54 points and s&p clinging to the green by one point and dow is down by 43.

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elizabeth: fox business alert, we have some developments in the visa porn controversy. visa gaining 2.5% and after today suspending card payments for advertising on the porn site and any other sites owned by porn hub parent mind geek. this after a federal judge last friday refused to remove the payments processer from a porn hub lawsuit saying visa "helped monetize child porn". visa's complaint was denied because its credit cards were used to pay for advertising on mind geek sites. a woman is suing mind geek along

with visa after a sexually explicit video of her at age 13 ended up on porn hub. visa will suspend the arm traffic junky card acceptance privileges and visa ceo released a statement this afternoon saying it was unusual for a ceo to speak out before a final ruling but as a ceo, father, and grandfather, he felt the need to speak out. we wanted to give you a snippet from the statement. "in our view, our company's role, pollicis, and practices have been mis-characterized. the allegations in the lawsuit are repugnant and stand in direct contradiction to visa 'svalues and stand against child exploitation and sexual child abuse. we don't maim judgments on legal purchases by consumers". and as we said visa is moving higher right now. shares of crock stumbling 10.5%

and the miker of the foam -- maker of the foam clogs is dropping and crocs ceo bullish on consumer demand for crocs and we're talking to him live tomorrow about how the company is handling the supply chain backup, that he blames for some of the problems. don't miss that . and then can't miss this tonight. is tonight going to be the night that tesla faithful have been waiting for and when we say faithful, we mean both the drivers and the investors. we are two hours with what the ev giant is calling the cyber roundup where shareholders are expected to approve the three for one stockholder to make it easier for individual investors and shares up 34.5% and seen a 7% gain this year and what tesla fans are hoping for is ceo elon musk will reveal that thing on your screen. at least news on pricing and a

delivery date for the highly anticipated cyber truck. big news in the entire ev sector, shares of lords town up about 1.7% after announcing a small second quarterly profit but reiterating its on target to start the endurance electric pickup truck with deliveries to start in q4 and nicola up 6.25% and the ev truck manufacturer anunsing it delivered 48 of its heavy duty trucks in the quarter. this is interesting. geez, can we pull up an intraday of lucid. it was a disaster this morning and it was way down and now it's completely turned around and that's the wrong ticker. that's why. i'm sorry. it should be l-c-i-d. that's the wrong ticker. l-c-i-d still down, down 10% for lcid after slashing annual production forecast. our apologies on the mistake.

the company will now turn out just 6 to 7,000 cars and that's a deep cut from the previous guidance of 12-14,000 vehicles with 30,000 vehicles preordered but they've got a wait list of 37,000. company's struggling to meet demand. demand is not the problem here. make no mistake, as we say demand is high for evs but they might not be the driving force behind oil's drop. west texas intermediate seeing biggest decline since february. we do have oil at the moment in the after market down two and a third percent to $88.49. you can see energy names are getting hit on it. it's weighing on big energy stocks and small ones at this hour as global markets react to weakening demand. that of course good news for consumers and gasoline prices are taking a plunge alongside crude with u.s. average gasoline prices dropping for 51 days in a row to now $4.13 per gallon.

as demand slows, what does this mean for the broader market and what's ahead on the calendar that may make this just kind of a mean trick; right, phil? you're the guy that thoughs all about this. what's coming up, you don't think these numbers are last? >> i don't think they will and i really hope that they don't. you know, not because i'm rooting for higher gasoline prices, even though sometimes i do, but i think it's because what we're seeing in the market in the oil market is correct, it could be a canary in the coal mine for the rest of the economy because we're seeing a disconnect between the actual physical market for oil around the world and what we're seeing on the future's market, and i'm afraid that if the future's market is right, then this recession might be a lot longer and deeper than we would like to see. elizabeth: we know that we have seasonal move coming up; right, going into the fall.

more demand for heating oil and distolets and things like that. is that what you think will turn the drop on the right part of our screen here, this one year picture, around and move it higher? all though i know a lot of people that don't want to see that. >> no, you know, i think it will, and really refiners really have to focus on not only gasoline supplies but on dis-'tilled inventories at the lowest level since the 1990s and that's one of the fuels we need in the winter. and one of the most amazing things i saw yesterday in the energy information administration, we saw gasoline demand plunge in one week 7%. that doesn't make a lot of sense. in the last half, usually the last two weeks of august -- elizabeth: why doesn't it make sense, phil? the cure to high prices is high prices. we were seeing above $5 a dallan just a couple weeks ago, and

people -- i talk to people all the time saying forget it. i'm not driving to vacation. i'll stay home or i'll walk somewhere or, you know, i want an ev. of course demand will drop. >> yeah. well, all the ev drivers getting natural gas and coal producers are excited about charging them up in the future. that's a different subject. but talking about the gasoline demand numbers, it's the erratic nature of the drop in the weekly numbers and doesn't coincide with demand in other places and we're hearing from refiners that there was a bit of a lull after the fourth of july spike but they're seeing the numbers bounce back so we think the numbers are out of whack with the numbers, and we think it'll be adjusted next week. elizabeth: all right. the adjustments could still come, folks. that's why it just might be an evil trick on half of the oil -- behalf of the oil seasonal market. thank you very much, phil. here comes the digital delta

force. war in cyber space raging as bad actors are now almost perfectly impersonating publicly traded companies and then hacking them through unsuspecting customers. enter zero fox stage left. the cyber security company went public hours ago on the nasdaq and how are they taking the offensive seeking out and eliminating threats? their ceo is joining me next and their stock is very close to markets high. olipop creator said he invented cola and root beer with a trace of sugar and lots of healthy ingredients that kids are reaching for in droves because they don't know it's healthy. how did goodwin turn his own unhealthy childhood into a multimillion business and they have a deal with universe minions and they have banana

cream. doing it in a cut throat world of beverages but he did it. his success story in my latest everyone talk to liz podcast episode and download it wherever you get your podcasts. 25 minutes before the closing bell rings. still red on the screen for dow jones industrials and oil in the after market pulling back. nasdaq the only green on the screen up 43 points.

elizabeth: this is interest, right now leading external security firm zero fox at session high after debuted on nasdaq and jumping 29% and making new ceilings to $14.15. it launched via blank check merger lms so it's back and it was a $1.4 billion deal. what's external cyber security; right? zero fox basically exposes and

intersects cyber threats like phishing, data leaks, fraud campaigns and more. microsoft to intel and uber, and even nasa and the u.s. department of defense. joining me now, live from the nasdaq, just right down the block is zero fox founder and ceo james foster. foster, congratulations, it's a could have world and some of the names are not doing that well but clearly investors are clinging to what your story is. explain your differences from everybody else out there. >> yeah, it's been an exciting day. long time coming. first, we're a real company in a really interesting space. cyber security. i don't think there's been such great demand for cyber security than there is today. we protect everybody from main street to mars. you talked about some names out there because everybody is a target, liz. everybody can be attacked from anywhere in the world now, and it's harder to understand who's attacking them, who's behind it,

and the real scope of the attacks. like you said, companies can be impersonated, their digital assets attacked. we help stop that and help flip that bit and go after the bad guys of the word. elizabeth: okay. this is to me the interesting part is the impersonation, these scam artists who are now getting ahold of urls of companies, real companies, impersonating them, and finding a way to infiltrate in that regard. you guys don't wait around for this to happen. don't you go out and aggressively and proactively hunt? what have you found out there that's changed over the last couple of years? >> customers are sick and tired of being attacked and waiting around to be attacked and getting those alerts and blocks. great, we blocked a fire wall, we blocked your device. they don't want that anymore. they want to know when the attack is coming and where it's coming from so that we can go out there and attack that adversary, dismantle their infrastructure so those attacks can never be fired.

we proactively go after the bad guys, and we're lucky to be the first ones to do this. elizabeth: you're also one of the leading firms in the dark web space, dark web in intelligence. can you just explain to our viewer what is that is and why -- look, we're in the business of making money; right. how you monetize off something like that. >> this is where threat actors thrive and engage now. they can buy and sell illegal information, stolen information, intellectual property, exploitss that may target organizations. i heard you say our digital delta force, i like it. this is what our digital delta force does. we get engaged in the dark web and make sure we understand what's happening, and use that actionable intelligence to protect our customers. elizabeth: ransomware. what is the status of that? a year ago during the pandemic, boy, did we have a lot of randsome ware stories we were covering. is that the attempt these hackers are pulling off or

taking a new form? >> no, i think it's just a cycle. i mean, we haven't seen a slow down. there's been over 14,000 unique new ransom wear targets and incident this is year and we think the pace is at an all-time high. people are just getting used to it. it's not about when you're going to -- if you're going to get attacked anymore. the question is when and how will you respond. i think customers are finally adapting to the we're going to be attacked. let's have the best protection and response available. elizabeth: well, investors are liking your story. when we started this interview, you were up about 27%. your stock is now up about 37%. >> wow. elizabeth: i do want to also ask about your other customers such as the department of defense. you mentioned from earth to mars; right, because you've got nasa as well. what kind of impacts have you been able -- attacks have you been able to repel from the crucial government agencies? >> look, government organizations are impersonated too. it's not just the crypto

companies and the digital companies of the world. everybody has a digital transformation strategy right now and everybody can be targeted and exploited, and that all extends to our politicians to government organizations to people trying to reach out to our constituents. they all are susceptible to the next generation digital attacks. elizabeth: foster, keep us posted. this is obviously a huge sector, a huge story. now your stock has just climbed about 10% as you've discussed exactly what you do and how you do it. you're standing at $15 a share. we'll be watching it. thank you so much. >> thanks, liz. appreciate it. elizabeth: variety reporting home repair super star chip and joanna gains are set to move their programming to hbo max. this news breaking and arising as investors wait to hear whether warner brothers plan to

consolidate with this hbo max. charlie breaks this and he's running down here now and don't move. closing bell 14 minutes away, dow down 94.

liz: ahead. second-quarter earnings. chief david zaslav new streaming strategy. charlie gasparino reporting broke some of that story. but also his cunning strategy too. >> most of the story yesterday on your show. what we reported was that they're going to merge the discovery plus with hbo max, the two major streaming services. they will merge those two together under one entity. there is going to be cost cuts involved in that. i don't believe they're going to give specifics cost cuts and layoffs in this earnings. they will announce the merger but not going to i have get specifics how much they will save but there clearly will be savings. from what i understand of people inside of company, telling fox business network there could be significant layoffs in the coming weeks and months ahead. liz: obviously. >> merging legal departments,

merging manment, you're merging tech, you're merging marketing. liz: synergies. >> i hate that word. we keep hearing that. >> job cuts. >> synergies a lot of things. these are the downside of synergies not just cost cutting. he has to save $3 billion worth. some of the interesting stuff how will they rebuild the business? that will come out today. how will they rebrand this? what will they say today? i know they're studying getting rid of any trace of word hbo in the new streaming service. they may just call it max. liz: discovery max? >> no. just max. like maxwell smart. now, just so you know they're going through, they're going through the surveys, polling. >> i miss home box office. >> you get the same programing but under max. i'm not saying they're definitely going there.

they're looking at that from what i understand. i don't believe they will have a new name or this thing today. they will not announce it. that it is just happening. what is interesting some of the programing kind of shifts, they got rid of "batgirl,." liz: that is movie they spent 90 million on. >> too politically correct. people hated it. what is the one you heard they brought over? liz: that was it. batgirl. >> something to hbo? liz: no. chip and joanna's network, entire magnolia network. you don't know chip and joanna? >> chip. liz: i love chip. i love joanna. >> what do they do? liz: home repair. what is their show? >> what i love about zaslav, risen i think he is one of the few decent guys in this crummy business, to be honest with you. he is a good manager. he worked his way up from the top. i really like david personally. liz: of course.

>> listen, the trail of failed mergers like this is long. now remember, he is taking the vestiges of aol-time warner in 20, 2,000. 22 years later he is trying to fix that ill-fated merger, taking the warner part. this is tough going. he has 3 billion to cut. he has got a sagging stock price although it is up on our stories. investors like the cutting part. liz: very little over the past 10 years. >> judge him from the merger. when at&t sold to discovery its warner programing and cnn and everything. liz: 179 buck. >> not anymore. it has been down tremendously. he has his work cut out for him. it will be an uphill battle, godspeed. these mergers are always difficult. here is the one looming question, i don't think we'll hear about this today, what happens to cnn? one thing sounds so odd, cnn

from a programing standpoint sticks out like a sore thumb, right? you got unscripted stuff on discovery. i love the food channel. i'm addicted to guy fieri, you name it. i know them all. liz: chip and joanna. >> chip and joanna whoever they are. with the scripted stuff "game of thrones," but where does cnn come out in all of this? and a lot of people say, including one of our esteemed colleagues, tony white, they say that, tony predicts, tony has been in the business for a while, he is predicting that shari redstone buys them. liz: he predicted new jersey devils would do well. >> did he? he never told me that. we have arguments who is the greatest -- liz: hockey team? >> middle linebacker. is it mike singletary, is it jack lambert, is it ray lewis, butkus.

he thinks it is butkus. liz: it is butkus. >> i think, i don't know. liz: guess what charlie, amc earnings after the bell? >> you mean losses. >> ceo adam aron will join us tomorrow. >> will it be losses. liz: tom cruise's "top gun: maverick" on the movie chain. >> i think it is losses. liz: the stock is up 3.25% to 18.81. >> off its highs. liz: nasdaq is the only green on the screen at the moment. it is inching, exiting bear market territory, up nearly 20% since its low back on june 16th. it only needs 107 points to do so, but it is only up, what is it up? can't even see. 42 points. not there, 42 points. joining me now with 3.8 billion in assets under management. david kudlow, mainstay capital management ceo. very tentative trading ahead of the jobs report tomorrow. what are you looking at, what are you buying ahead of it if anything? >> well what we've been doing,

liz, we talked about on the show six or seven months ago we were very heavy into cyclicals. specifically commodities. we've taken those positions down. what we've been looking at what we've been doing in the markets, when we look at three sectors of growth, value, cyclicals, defensives, we're using a barbell strategy, with defensives on one side. health care, utilities, consumer staples doing well, they're considered recession resistant. as we await to see where the economic damage comes and where we are relative to recession or stagflation, that is good on one side of the barbell. on the other we have secular growth stories and that is our growth stories like amazon, apple, microsoft, between those two. what we're afraid something cyclicals in the middle. as the economy continues to slow we don't want to be in those cyclical sectors. liz: you know that makes sense, depending on what your time horizon is.

as you weight train the portfolio with the barbell approach is there one etf in particular -- i'm thinking about growth. because some people are addicted to growth at this point even if they think it might do as well as value in the short term. how do you go about doing that? >> i think spyg would be our top pick among the growth etfs and what you're getting is nasdaq-type stocks, the types of stocks that participated well over the past five or six weeks. now, the market could turn around and go back down tomorrow based on non-farm payrolls or based on cpi next wednesday but as we look out into, for a long-term investor, these are the names, nasdaq type names, pure growth that are, a good component of any portfolio for the long term. liz: i wish i could look over your shoulder when the jobs report comes out to see your reaction, david, but we'll be watching it every step of the

way. as always thanks for joining us. >> thank you, liz. liz: david kudla. folk looks like a split decision on wall street as nasdaq closes up and dow down 95 points. [closing bell rings] ahead of the jobs report tomorrow into this hour it will being extraordinarily important hour to see how stocks react. we'll see you then. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. save america, kill the bill. now it turns out the inflation reduction act has no inflation reduction, that according to the cbo in response to an inquiry from ranking budget committee senator lindsey graham. mr. graham will join us in just a couple moments but the congressional budget office reports that the manchin-schumer bill has a negligible impact on inflation. it has no impact on