exposed and will be taken away. dollar cents says it sucks but that's why people need to stop listening to pumpers on the internet and understand they're putting their money into bby, bed bath and beyond was a real bad business. everyone is entitled to sharing their opinions and we love that liz is back. liz: yeah, back from la and this session looks like the traffic likes on ventura boulevard and as soon as you think they're going -- >> charles: i got to mental block. liz: ventura highway. bread, america? america. charles: tom petty. liz: now that we got that out of the way. charles: i'm going to e-mail you the song. liz: i'm sure some of our viewers are going to e-mail me and say, no, liz, it was dot dot dot. this session is looking like the

traffic lights so fifth avenue, ventura and you think you've time it had right going in one direction, the lights change and after a midday pivot from red to green and back to red. stocks right now are mixed but mostly higher as we kick off the final hour of trade. it's the dow jones industrials that's a lagger here but only by 24 points and had been down 135, s&p better by 8 and nasdaq up 33. the russell also better by ten points and if ever there were an investing less son to be learned, if you look today through the two month lens, you could argue it comes down to the fact that it was almost exactly two months ago, today, june 16, i now we're at the 18 but the s&p hit a near-term bo bottom. you can see it on the if i canture. the broader index charged higher by about 17%. everything that was ugly, you could say ford, amazon, sofi, apple has markettedly improved

this quarter -- markedly improved this quarter. sofi and ford's 33% jump and millionaire investor mark lazri predicted we had seen the bottom. no one ever really knows. he said you've got to buy when you see opportunity. mark is joining us in a few minutes and we'll get his next big prediction. in the meantime, you know, every day is prediction day when it comes to guessing how much the federal reserve is going to hike interest rates at the september meeting. just a day after san francisco fed president mary daley did the old could be 50 basis points and could be 75 basis points and this afternoon the presidents of the kansas city, minneapolis, st. louis fed banks, all three were out and about. ester george said in a speech, hold off on the inflation slang victory lap. the slightly better consumer picture we got for july is "hardly comforting and there's more to do".

minutes later james bollard told the wall street journal he's not ready to say inflation has peaked and he's favoring a 75 point basis rate hike next month and kashkari joined the more to do camp saying it's urgent that the fed douse inflation fires even at the cost of triggering a recession. saying we need to get inflation down "yurgently". these three speaking this afternoon, what are the traders and the fed funds future pits thinking in realtime? okay. that move 4 2% odds of a 75 basis point hike, that is up from about 34% this morning. so everything that those three said has only underscored that the possibility increases that we could see a 75 basis point hike. after hitting 2.9 yesterday and look at ten year yield down about 2.88% and the yield curve inversions all the way up and down the curve are still screaming recession.

there's right now about a 35 point inversion spread between the 10 year and two year and some of the markets, some $7 trillion has flowed into u.s. stocks since that june low. even if the bears are streaming, the bulls for now are ignoring them. you can see the nasdaq up 21% since the june lows. we already told you about the 17% for the s&p, the dow up 13.5%. bulls are ignoring them. which side should you, the investor, be on with the unwinding bearish positions or the clan of the cautious? get to the floor show and two of the most successful traders on wall street. john carpena live at stock exchange and scott bower live. it's the actual floor show and not the name only. welcome to you both. john, i'll start with you. market bottoms are synechiae, reich. it's hard -- sneaky, right. hard to see them till they're in the rear-view mirror. where do you think we are in

this investing cycle? >> hey, liz. you're never going to pick the bottom or top and you're always looking in the rear-view mirror but the opportunities are there in front of us. the headlines over the last few months and quarters are still headlines that are near the surface. we're still talking about interest rates, supply chain, the covid headline has quieted down for a little bit now. those things are certainly still there that's gob narath -l our markets but our markets have shown that our economy is strong, able to shrug off bad news and we are able to rebound off the lows. where are we in the spectrum of things? s&p up 10, 15% off the low and still down 10% on the year and things i'm actually looking for that's going to help me decide when way the market will move is keep an eye on a few things. vicks trading below 20 and it's a psychological level for me and it's trying to stay down here. if it can for a bit of time. that'll helpful. look at levels in s&p and

russell. close to the 2,000 number and it's psychological and if it is be stability, it should be good. the dust has settled a lot in all the headline news we've seen. we talk about interest rates, what's the fed going to do moving forward? i think the market has absorbed a lot of this bad news and when the market does absorb it and does -- can be somewhat transparent about it, that turns into good news. we've gone through earning season, outlook is not as bad as we think it'll be. we need to get through the next few months and i think the end of the year, end of the third quarter, beginning of fourth quarter we'll see the market continue to stabilize higher. liz: folks, look at bottom right-hand side of your screen, the dow looks like it's about to turn positive. scott, john just said these markets are able to absorb frightening news, bad news. look at today alone, you had three fed heads out there flapping their lips and saying, okay, we're not even close to being done with hike rates even at the risk of recession and i

will say bollard said fears of economic downturn are blown out but are you in a cautious camp? >> i am in a cautious camp. jon said this rally has been great and the market has been able to absorb all sorts of hits. those hits are going to keep coming. it only takes one of those to spook the market. to me, the big one is going to be if we see the ten year rising above 3% again. i know that is a psychological number. that's a number that people don't like. what i am doing in this environment, liz, is i'm not saying that weir we're due for l pullback or going to rise another 10%. but volatility, whether it's the vicks or you're looking at implied vol volatility for s&p options is extremely low. historically it's not low but for the last six months. for me i i want to stay in the

marketplace but i'm buying protection. we allment insurance when it's on sale. car insurance, homeowner's insurance. the vicks is on sale right now so to me, that will help protect any downturn. if you give a little back, if the market continues to rally, most people would give that up. liz: you like devin and chevron, 9.7% and chevron 3.6%. earnings, jon, i know you've been watching earnings and, folks, this is a perfect example of underpromising and then overdelivering. i think we have about 94% of -- let's see of the s&p having reported. 78% have beaten on earnings per share. 69% of beaten on revenues and that's also better than what had been expected when it comes to actual, you know, year over year comparisons so, jon, do you see any science on the horizon that

the bulls have a stronger position as we head into the fall? >> liz, i think we talkedded about this a year and a half ago and these calls have two excuses. one is covid and one is supply chain. as long as they keep mentioning these, that's an excuse to punt the can down the road and be able to reinforce or get investors to buy into the fact there are bumps in the road and down the road in time things will get better. i think as they use those excuses and as i said before, the dust settled on the major headlines and news out there. people are getting more comfortable with the negative headlines that we see in the market. i'm a believer two steps forward, one step back whether the market is going straight up or straight down. if we start seeing that pattern, i think that's where we start showing some stability. we're starting to see it now. i do think, yes, there are some headlines that can give a one two punch in the market, but we're not going to see the volatility and the drawback that we've seen from a few trading sessions ago. liz: i'm so happy to see now

with both of you that you're on trading floors. i love the sound behind you both. it's back to work, folks, whether you like it or not. >> it is, liz. thank you. liz: we three love it. jon, scott, great to have you both. thank you so much. did you hear the tweet that was heard around the soccer world. billionaire elon musk sends shares of british football team manchester united flying only for them to fly back to earth after he jokingly tweeted he was buying the storied by embattled franchise. one billionaire is not joking around at all when it comes to buying sports teams. millionaire investor mark lazri owns the nba champion milwaukee bbucks and just bought a major league pickleball team. we're joined on his very serious business of sport and he was spot on about the june lows and we'll ask him where equity and distress markets are heading next. the closing bell ringing in 49

minutes. we're joined next by mark on the "claman countdown" when we come back. dow is about to turn positive it appears.

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no one should suffer like that. i started cosentyx®. five years clear. real people with psoriasis look and feel better with cosentyx. don't use if you're allergic to cosentyx. before starting get checked for tuberculosis. an increased risk of infection, some serious and a lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist i didn't junction @. dow is up. you're dribbling forward with your feet and then backwards and that happened to shares of soccer franchise manchester united yesterday and they zoomed forward by 17% in premarket trait trading after elon musk tweeted he was going to buy the famed soccer team and clarified it was a joke and not joining

the long list of billionaires who owns sports teams hence the reverse with nearly all but about 2% of those gains in man u disappearing. if there's anyone that knows the ins and outs of investing in a pro team, it's billionaire marc lasry and the capital cofounder own the 2021 nba championship milwaukee bucks and the major league pickle ball team the lions and the team is part of a professional league with high profile owners including super bowl champ drew brees. do you play pickleball, marc? jimmy graham actually do. i would tell you i'm off the chart,. liz: in the wrong direction off the charts maybe. >> in the wrong direction, that's exactly it. liz: pickleball is the fastest

growing sport in america but is it for fun or is there real financial opportunity here? >> i think it's a real financial opportunity. i think it's exactly what you just said, it's one of the most popular sports in america today. what you're finding and sort of the reason i invested in it with james when we bought the franchise is the goal is that overtime if you can get a media contact, if you end up having more and more people come to games and to tournaments, the value of that franchise will keep going up so the big thing is that right now it's one of the most popular sports in the united states. if you have that, then that means sooner or later you'll get a media contact and the buy of that franchise should go up quite a bit. liz: it's certainly in the newer stages but you got the milwaukee bucks and looking at all this before the markets, i want your quick reaction to a billionaire like elon joke tweeting about buy ago team, especiallily a

publicly traded one. some eel experts believe that regulators may have examined this tweet because of gyrated shares and how seriously is investing in sports teams and keeping things under wraps and not fooling around because some are publicly traded? >> i think it's hard when it's publicly traded. even if you're interested, when you have something that's publicly traded to say you're interested in it, automatically the price moves up because people don't know what you're willing to pay. i think it's kind of difficult. i think at the end of the day, there's a tremendous amount of interest in soccer and basketball and the nfl. so anything that's live sports, that's what you're finding and you're just seeing the value of those franchises is actually going up quite a bit. liz: let's transition here to the markets because while i'd love to sit here all day and talk about soccer, and hockey, if you buy a hockey team, i'll be really thrilled.

marc, i want to know about your outlooks for the markets because you at avenue capital do a lot of investing in distressed debt but you just filed your 13f, for the big institutional and investors like yourself that have to say what they bought during the quarter. it was interesting that some of what you bought was an exit. you exited your diamond offshore, sold vister energy, bought impel excel as a new buy. can we sort of infer anything from these buys and exits? >> i think part of it -- i think on the -- one of the reasons we got out of the energy positions was just the value had gone up tremendously from where we had initially invested. excela is an investment where the bonds have got hit pretty hard and we look at it and say

at the end of the day, from where they're trading it's about a 25 to 30% current. it's pretty high and we think there's a tremendous amount of capital appreciation. in a lot of the situations today, for us you're seeing the real need for capital. people are nervous and you were talking earlier and the question is are you going into a recession or not? i think we are in a mild recession. you're going to continue in that and be at least for the next six months or a year so if that's going to happen, then having cash or having money and being able to buy things when there's problems, that's really what we're focused on and that's what we're trying to do. liz: in that way, you're a canary in a coal mind and you get the call from companies that find themselves close to the precipice and close to the troubled edge whether it's bankruptcy or near bankruptcy and you love the calls because you lend your money at great rates certainly.

so what kind of calls are you getting? i know you won't reveal who calls you because you and i go back far enough that i know, but are the calls increasing? are you seeing more and more companies getting closer to distress? >> you're getting a lot of calls right now and the reason for it is banks are pulling back so people right now, what everybodiments to do is just make sure they have enough cash or liquidity for what happens over the course of next year and they're trying to be proactive and careful. they're not focused on the interest rate they're paying. if you think about rates today, we're charging anywhere between 10-12%. we're getting quite a bit of premium for that. that's because companies are nervous. they should be. nobody knows what's going to happen. at least for us, th things are getting really -- we're finding huge opportunities mainly

because of all the issues out there. liz: you were called in june in an interview, the bottom of the market and you couch it ed it ad said nobody ever knows and we've had amazing runups in the dow, nasdaq, s&p and russell over the past two months, how much longer does this go? can you make a new prediction here? jimmy graham think you're going- >> i think you're going to find as we start getting towards the end of the year, the whole focus is when does the fed start lowering rates? if people think it'll take awhile, the market will come down muc. at the end of the day, the fed will do what they do. you're not goon see rates come down till the -- going to see rates come down till the third quarter of next year. you've got a year where things are going to be kind of hard, but right now everybody is optimistic that everything is going to start turning in june.

and the minute that changes, that perception that it's not june or the middle of the jeer and it's gone -- year and it's going to take longer, that's when the market gets hit. those will be the issues and that's what people should be focused on. liz: marc, it's great to see you very much. >> my pleasure. thank you for having me. liz: go lions in pickleball. we'll be cheering them on. take care. marc lasry of avenue capital. you guys know the saying one man's trash is another man's treasure? billionaire rapper kanye west coming under fire after displaying the latest yeezy gap collection in trash bags and the designer wanting to be known as yeh is in time square to defend his merchandising strategy. we're taking you there live next with him. we're coming right back. don't go away.

♪ that's how long i've been on ya, work t baller ♪

liz: we've got a fox business alert. markets are coming a touch off session highs right now. we're looking at the dow up 32 points. just a few minutes ago hit a session high of 43 points of gains and s&p up 15 and nasdaq better by 58 and some optimism

coming into the final 32 minutes of trade. cicisco moving to the top of the dow and provide add better than expected forecast for the coming year citing easing supply chain shortages. yes, the stock is up 6% but, folks, cisco is not out of the woods yet. heave knew came in flat and stock down 2 2% year to date and customers shift to cloud and subscription software opposed to buying hardware. warner bro's dis-covid ray. share price getting -- discovery getting close to falling below shares and announcing its exiting investment in gm news. ceo zaslav is jetting right and left to pay off debt and hbo max will launch a new 30% off promotional plan for a limited time only to lock in new customers. the plan will run through

october 30th of in year. the move comes as the platform prepares to dump 36 titles this week, including 20 original productions. this again in an effort to cut costs. warner bro's discovery down 1% at this moment and down 44% year to date. este lauder investors are slapping lipstick on the investor. the company behind mac and clinique missing quota. coal shares taking a tumble after the company slashed full year forecast underscoring este lauder issue weighing on income issue customers and kohls down 7.25% and flip over to macys and nordstrom and not an apples to apples comparison and they're dipping in the wake of

kohls forecast cut and dillards happens to be clinging to a slight bit of gains here. investors digest today's retail earnings, the gap is set to drop its second quarter report one week from today. ahead of that, yeezy designer and rapper kanye west known as ye stirring up collaboration with the retail chain. ye directed new collection for the line, yeezy gap, to be displayed in gigantic trash bags instead of on hangers and abs leading some to say having customers dig through trash bags for sizes is insulting. what's behind the rapper's thinking here. we take you live to the gap in time square where eric shawn spoke exclusively to west. eric. eric: hi, liz, we're in front of the gap store here in time square and gap had problems with revenue recently, but canny west the billionaire to the rescue

potentially. he's cause add controversy for this corporation as he'll affirm himself being reported that he's selling his clothes here out of trash bags. he wants people to know they aren't garbage bags but huge construction or lawn bags and the clothes are in those. he's trying to do something being mis-respecrespect -- misrepresented and people are misinformed and he goes by ye and i talked to him earlier this month about the situation. on social media and fox news and other place, critics have been mocking him for putting the clothes in the bags that he has designed for gap. he says the aim is just the opposite. he wants the clothes to be easy and says he's challenging traditional conventions and retail by for example dropping the use of hangers and tags. he worked for the gap himself years ago as a clerk and says you don't need them. he wants clothing to be informal

and unpretentious. >> do you understand that some people felt putting clothes in bags is insensitive to homeless and other people? >> look, man, i'm an innovator and i'm not here to sit up and apologize about my ideas. that's exactly what the media tries to do. make us apologize for any idea that doesn't fall under exactly the way they want us to think. eric: he fears the criticism he's been hit with will undermine and stifle artists and creativity. in his words as he told me, don't clown the creators. >> this is like not a joke. this is not a game. this is not just some celebrity collaboration. you know, we're creating, i fought a lot, i've lost my best friend, i lost my family, and i'm here still creating.

eric: the new clothing line could help the gap, their stock year to date is down 40%. after our interview, he's off to london to continue working on his designs and may be helping because the gap folks say his clothing line has been selling out across the country so this controversy could obviously help business. liz: so, eric, he worked at the gap back in the day? eric: when he was much younger, he worked at the gap and he told me that he, you know, was always challenged by the fact that you go into the gap and you look at something and everyone has to come back and refold everything perfectly and hang everything neatly. you know, he is trying to challenge that convention to do something new, it's the status quo, and that's why they have folded clothes, joggers and hoodies and t-shirts are folded in the big lawn bags so if you want to buy something, you go over to the lawn bag and as the

video showed us, just take it out and don't have to deal with the hangers and make all that extra work. maybe he'll revolutionize retail. liz: i worked at the gap in berkeley back in the day, and i folded all day and all night. yes, i did, during college. eric, very interesting interview. you know, he's a thoughtful, very smart guy who is a self-made billionaire. we love those kinds of stories here on fox business. thank you very much. eric: yeah, absolutely. liz: all right, investors are hungry like a wolf for this semiconductor maker's stock. up next, the ceo on wolf speed on how the ev chips are helping it speed ahead to the front of the semiconductor pack. look at this gain: 30%. nice, that's just a day. closing well ringing in about 25 minutes and dow is climbing up 47 points.

liz: no discount for bj's wholesale club investors and the stock hitting a high of $77 a share after the membership warehouse chain second quart -r revenue rose 2 2% and they raised annual profit forecast. the stock is up about 7.5% but has come down just a bit to 74.31. bj's credits its grocery business for the win as people shift from spending on stuff to spending on food. chip maker wolf speed howling to the moon right now. look at shares at the moment jumping 30% on the silicon car buying chip maker. wolf cites new facility in up state new york as the tail wind. this was the world's first fully automated 200 million-meter car buy fab plant and came online this year. they issued revenue guidance

that topped expectations and there's more to this story. get it now in a fox business exclusive from wolf speed. president and ceo and rock n roll hall of fame board member greg -- you're a rocker? >> i am. we're trying to do a lot of different things but probably the primary one is driving the conversion and semiconductor industry from silicon to car buying. liz: it's a pleasure. for those saying wait a minute, wolfspeed, it used to be called cree but you changed the name but not ambition. where is the demand coming from at this point and how you're able to fulfill this demand when other chip companies are lagging. >> well, we're having record amount of interest in our product. in fact, just this last quarter, the amount of awards were were given was all time record of $2.6 billion. we call these design ends and

these are cust customers that he chosen to go with our products for the next generation of systems. largely this is being driven by the transition in the auto industry from the internal combustion engine or ice or electric engine or electric vehicles. our technology enabled some really important. it allows the car to go further with the same amount of battery. and range is a huge deal for electric cars so the car makers who are making this transition from the internal combustion engine to electric vehicles are all over silicon car buying and as a leader in this technology, we're getting a lot of interest. liz: i know you're going to be annoyed i'm asking this kind of junior science question and we don't have all day, but how do your chips enable ev batteries to go longer and faster? >> it's simple, our chips are more efficient than silicon.

we use a new technology for semiconductors. the industry historically was on silicon and there's a whole valley in california named after it. silicon valley and silicon chips. our chips are more efficient. and the analogy that i use is imagine you're filling up your car with gasoline and it's in the gas tank and the fuel line going to your engine has a bunch of holes in it and you're dropping fuel on the ground. that's what you're doing when you're using silicon. when you use silicon carbide, more of the energy in the battery in this case gets to your engine and that allows for the same amount of energy the car to go further on the same charge. liz: i remember when you were building in plant in up state new york, now it's cooking and to me it's fascinating considering your chips are made in america. so you are way less dependent on the asian supply chain, rye cheese supply chain. you're also -- chinese supply

chain and you're outpacing with the stock some of the bigger people and the past three months, nvidia is up 8%, you've got advanced micro-device up 2%, intel is down 15%. you guys are up 19% during that exact same period. what do you think it is about your company, i mean granted the market cap is certainly a bit smaller than those, but what is it about how you are making these chips when it comes to demand that the investor is saying i want to be on that party train? >> liz, i think it's quite simple. i think you're very correct in that we build these in the united states and therefore don't have the comply chain reliance that others do. but probably more important is the secular trends. you've got a secular trend of going from fossil fuels to more efficient renewables. you have a secular trend going from internal combustion engine to electric vehicles, and you have a desire by everybody to

save and reuse energy more efficiently. all of these secular trends are favorable to our technology called silicon carbide. that provides kind of a pretty giant tail wind for our business, probably through the end of this decade. liz: and the big auto makers and some of the fresher ones like lucid are putting in orders with you. what about the teslas of the world r you talking to new partner s? >> we're talking to partners all the time and we're engaged with just about every car company that you can imagine. it's certainly all the tier 1 suppliers. we've made announcements with general motors, lucid, borgue warner and a number of big players in the field and we've won a lot of business with other companies as well. super exciting time. the other thing that's really interesting, these past quarter we're seeing a tremendous amount of growth for silicon carbide outside of the auto industry.

things like solar fields and solar energy. great opportunity for us. in fact, we had a record number of design ends or opportunities that went our way by this quarter in the non-autotote mifsud space. tremendous tail wind in auto and the non-automotive space as well. liz: greg, we thank you for coming on. appreciate it. >> thank you very much, liz. liz: we got to look at bed bath and beyond. boy s it feeling the pain in this final hour of trade. bbby investor ryan cohen is dumping his stake in the retailer. he wasn't the only one. a 20-year-old usc student made $110 million by buying bed bath and beyond in july at $5.50 a share and then he sold it on tuesday when it hit an inter-day high of $28.

it's at 18 and change right now. what happens to the rest of the mimicry crew who didn't get out? meme crew who didn't get out? stick around. the dow is up 43 points and s&p better by 14 and nasdaq climbing by 46 points. we're coming right back.

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♪. liz: okay, seven 1/2 minutes before the closing bell rings. the vix is still below 20, right? we do have the dow, now it is up seven points. had been up more than 50. okay it was nice while it lasted. meme stock mania is coming to a screeching halt today on news that activist investor ryan cohen is planning on dumping out of the entirety of his nearly nine 1/2 million shares of bed bath beyond. shares of bby down as you can see after trading as high as 30 bucks on wednesday. negative sentiment dragging the rest of the meme stocks down with it. lauren simonetti, what does this mean for the future of an already embattled bed, bath & beyond. >> is this a turning point. i wouldn't go that far. i think it might be a wakeup call, right, what exactly is happening to these companies, if you look at bby its fundamentals

are terrible. so i think specific to the bed, bath & beyond story, activist investor gamestop chairman ryan cohen. he really changed the news here. he has cred in the reddit social media community of social traders. tom hayes, always on your program says this, retail traders have the mentality anything that ryan cohen touches turns to gold. others just say he pulled out the rug from under the retail traders and you know, he announced when he intended to sell that stock. we caught up with one of the short seller traders. this is what he said. i think it is really dangerous. i think sec, whoever wants to regulate securities these days needs to look in to find out why a stock foes from 5 to 30 on no news in two weeks. i think it is very dangerous, set as really bad precedent. a lot of people lost a lot of

money. a lot of people will lose a lot of money. reporter: meme stock faithful with all the red they're running to the exits today. bed, bath & beyond specifically, right now up until today, 250% gain in the past month this is renewed interest what is in a sick company, right? so is it time to capitalize on the lifeline that they were just given on this moment and consider selling shares, raising money, investing in themselves to get through this to keep the ac on, pay their vendors so they have stock for winter holidays. that is what the discussion is right now. we'll see how the stock opens tomorrow but wedbush put it all back in focus today. they were the latest brokerage, they chimed in how dire the situation is. look, there is their price target, five bucks. cut to their equivalent of sell. obviously they say the company is disconnected to fundamentals.

>> where do i get my brita officials? i love bed, bath & beyond. the one my by house closed. ryan cohen was sort of a hero because of the traders because of gamestop. >> he is chairman of gamestop. give you the quote, not tell you the source. this is a bait for retail he performed to get them buying. liz: well, yeah. okay. >> there is a lot of -- liz: conspiracy. >> good way to put it. liz: thank you very much. lauren simonetti. closing bell. we're four minutes away. the s&p is on pace for a fourth day of gains out of the last five. the nasdaq is on pace for the first gain in three days. the dow just fumbled all of the gains. so geeked up with that. the dow is down nine points. have you guys looked at big u.s. banks? some of them outperformed rather beautifully. morgan stanley, goldman sachs, citi, they're all up nearly 20% since the end of june beating

the s&p 500's 13% gain. today's "countdown" closer, they had a nice run. how about this bank he has in mind that could make your portfolio greener than ever? to tell us the stock he loves right now, by biondo investment visor, joseph biondo. give us the name. it is not a huge one, is it? >> it's not. silicon valley bank. silicon valley bank is essentially the invest bank for the innovation economy. the company has front row seat to all startup, early stage companies in the technology and life sciences industry so they're very well-positioned for what we think are very, great future growth companies that are very well-positioned in the long run. liz: we know startups and technology stocks have really taken a beating. what makes you believe this company isn't in for pretty much

the same thing? i mean as it is we have it down 32% year-to-date. why are you so encouraged at this very moment for svb financial? >> to be clear silicon valley bank is not a startup. they have been serving that marketplace -- liz: but the people they serve are the ones who really had troubling time. >> correct, yeah and they have been through this before, whether it was back in you know, the early 2000s with dot-com, great recession, 08-09. investors in silicon valley bank have been through this before. we view this as a relatively short-term storm that you know, the startup and, you know, early stage companies are going through and if we look one, two, three years down the road, right now silicon valley bank is trading at a discount to its

peers. it has a much better growth profile than its peers. so a return to normal, you know, i'm not asking for a premium to its industry peers. asking for market multiple to peers, market growth we think you make one, two times your money next two years. they're a really well-run company with great management team. liz: you like shock wave medical, up 9% year-to-date, up 52% year-over-year. lowe's is in there too. can i get your macro picture as we're in the final 50 seconds left to trade? >> so the macro picture, first six months of the year the market had to reprice the new reality of a less accommodative fed, higher rates, less liquidity, higher inflation. we think the market's done that we're very encouraged by the actions since june. the market tried to rally to the

200-day moving average. very natural day for it to get repealed. but we're very encouraged we'll break through this and we'll be challenging back to the old highs within the next 12 to 18 months. [closing bell rings] liz: good to have you, joseph. we appreciate it. the dow just went from negative to positive, if it stays there it's a nice move and s&p and nasdaq also in the green. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. we have got some breaking news. a u.s. federal magistrate judge, that being bruce reinhardt, he told government lawyers and lawyers from the media organizations that he will not leave the entire affidavit for the mar-a-lago search warrant under seal, won't leave it alone. judge reinhardt also ordered some documents connected to the search warrant to be unsealed later today. if we get that report we'll come right back with it to you. this would include by the wa