agents to go after small business owners and many of the small business owners had to take the chance because they didn't have the pedigree to go and move up the corporate ladders and they can't afford to pay workers after the minimum wage spike. cue the music, folks: pride, pomp and circumstances of glorious war, it certainly is. liz claman, over to you. liz: good to see you, charles. folks, top of the hour, fox market alert. stocks are mixed at the moment and been like this all day with the dow and s&p lower and nasdaq higher. we have very thin trading volume and two reasons for that as we kick off the final hour of trade but first, we need to quickly look at an intraday chart of twitter, which right now is tanking 5.5% on multiple headlines all having to do with subpoenas, whistle blower complaints and accusations flying in fast and furiously. some of them appearing to support reluctant buyer elon

musk's claim that twitter undercounted spam bottom panelsl bots on -- spam bots on the social media platform. that's been his main platform for trying to back out of the deal and the price he offered to buy twitter. susan lee will join us in a few moments with breaking details. the twitter story matters 9/11 you don't own the stock because -- even if you don't own the stock because it's a top drag on the s&p 500. with the 5.5% clip at the moment, it is at the very top of the laggards here and metatropics and hell tell flex e the followers there. you can't blame the laggards and trading volume ahead of jay powell's big speech on friday at the symposium in jackson hole, wyoming. we have volume 10% lower than the one month average for the big board trades. that's pretty significant here.

as we wait on that, what looks good? believe it or not, some consumer discretionary retailers, macys and dick's sporting good up higher. macys came in at a dollar a share andy's warned of consumer spending of the year and investors are piling in. also beating on earnings expectations, dick's raised full year guidance and ahead of earnings after the bell, nordstrom's hitching a ride on macys success and nordstroms better buy 2% on the deck after that quarterly report. ape, the preferred amc shares, which debuted and dumped out yesterday are soaring at this hour, just off session highs jumping 22.8% at this moment. still at $7.37, nowhere near the

$10.50 high hit yesterday before they dove. amc shares not so lucky. there's red on the screen there. amc down 6.8% and it's not the meme stock's moment at this hour. bed bath and beyond down 4% and game stop lower by 2.25 and revlon down 2.25. crude enjoyed a very strong regular session and in the after market popping 3.5% and the big oil names and integrated oils and drillers and refiners are pumping higher now and you can see on the screen. big leader here is neighbor's industry. we have it up about 8.5% but the dow and s&p face fourth loss out of five sessions, we need to bring in the floor show traders for real guidance here. bring in scott bower and george ball. scott, thin volume anded from reserves are affecting the final hour of at the same time what

else? >> i think that's what it is, liz, just a lot of making sure people have the positions they want to have on prior to friday, but the volume is so light and what we've seen over the last week or so is the volume can be light on up days and the big down days. even yesterday, volume was really light. you're going to see a lot of just positioning prior to friday. the trajectory is to safety right now. ahead of friday, i think people are thinking that all right, if it is a little bit more dubbish than what people think, they'll maybe be able to catch up to the market. but they don't want to be caught with being behind the 8 ball if he comes out hawkish and the market takes a big downturn that being said, liz, you and i had this conversation last week when the vices was trading almost under 20, about buying cheap protection when you can and not when you have to. that's what you're seeing now.

we saw a big spike up in vicks yesterday to the 23 half, 24 level, it's still cheap in my opinion for what's going on in the markets place. it's not cheap overall historically, but for what is going on in the marketplace, it's cheap. if someone wanted to take a bullish position going into jackson hole on friday, great. buy a little bit of protection with it. liz: it's a bit of insurance and, scott, i'm sure you were cringing when i mentioned some of the retailers are doing well because you've warned about the retail picture. we had a panel yesterday that did the same thing but there's still some little hidden gems at the moment. george ball, i want you to get into the conversation, you're familiar with oil country in texas but we continue to watch a big move today, oil at one point yesterday was down 3%. are you liking anything here and if not, where are you placing your bets? you've watched and been a participant in the markets for

decades. >> for too many decades, liz. with that said, i think there's a part of the energy investment sector. it's particularly interesting and limited partnerships. less volatile than the oil companies, the drillers and suppliers and frackers. healthy yields and think of enterprise products and the queen of the partnerships yielding over 7%. it's a marvelous inflation hedge and most of its contracts have a cost of living escalator in them and if energy prices go up, mlps for whatever reason tend to go up. entering the energy space it's in a period where scott says you want to be on the safe side is a very smart bet. i would also mention by the way the pharma or specifically the

small pharma stocks are ones that have to outperform even if the market takes as it often does a september swoon. liz: yeah, and bio-tech, that's a tough trade at the moment. they've been really sold off but then there are other opportunities where you say, well, maybe so as you look at invesco healthcare ets and has a basket of names up half a percent. scott and george, i want your opinions on the meme stock movements from last thursday through this afternoon. on certain days last week, bed bath and beyond was going pair boll ick and it's no so -- par at themoment and how do you viw these, scott? >> i hate them, liz. i'll be blunt. i hate them and here's why. i'm a trader and work on fundamentals and technicals. there's no fundamentals to these stocks here.

i don't want to literally place a bet. when i trade, i trade with edge. i look for edge. when i am trading something, i'm using all of the analysis that i can to give me edge. i don't get edge trading memes. the reason i think we got the mania started again last week or the week before, whatever it was, is cause we've had this lull in the marketplace for, you know, 12, 18 months, however long it's been since the memes have done this. we have not seen crypto explode. we haven't had for let's call @ retail or younger traders in the space. we haven't had that kind of excitement for quite a long time and that's why i think it got going again. george, your thought on memes and warn buffet just bought stocks and what about you and something tells me you're not in love with the meme stocks. you guys are tough.

>> well, an old specialist and once upon a time with specialists on the floor with the new york stock exchange and i never lost money on a stock that i didn't own. i would agree with scott, that's probably the best way to approach the meme stocks. but let's be more specify and more to date, the ceos of meme companies are now using the inflated values of their equities as a way to do derivative financing to keep their companies solvent. the meme can'ts are taking advantage trying to keep their companies out of chapter 11 and if there was ever a better way of foe cussing on the id seizure disorders -- focusing on the id seizurididiocy of the mothers-iw it's now. liz: adam aaron is on the phone and begs to differ.

listen, so do a lot of retail traders and don't assume we're dumb and know what we're doing. we shall be watching it. it's a trade and guys on wall street owned that trade for so many decades. why not let them get in. george and scott, thank you very much. as twitter shares tumble, it's the question investors want answered: will a new whistle blower paint alleging twitter understated the number of its bot accounts, will that give elon musk the very bullet he's been hunting for to kill off his $44 billion twitter bid? we got the lo down from one of the top law school professors in the nation. as twitter shares tumble, you'll hear his assessment along with a live report on all the subpoenas and accusations flying. with the closing well ringing in 49 minutes, dow jones industrials down 107 points at the moment. the "claman countdown" has it all when we return.

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becoming alert and at this hour, the stock is dodging legal project tiles. down nearly 6%. now, the washington post break the story before the bell that twittedder's former -- twitter's former head of security filed a whistle blower complaint accusing the social media platted form of systematically misleading user users and invess for years about privacy policies and attempts to fight spam on the site. this weeks ahead of twitter's courtroom battle with billionaire elon musk who lob add subpoena at twitter's former ceo jack dorsey in the bid to

back out of the $44 billion bid and offer to buy the company. susan lee is live in the news room with late breaking news on the story. susan, we knew elon had been stuck in the escape room unable to pull out of the deal. how does this complaint bolster his case? susan: liz, i was looking at some tweets we got from elon musk on this case. i want to start with the whistle blower himself, he's twitter's former head of security, peter zako and a former hacker hired after the infamous celebrity and politician hacks in 2020. he's filing a complaint not only with the justice department but the ftc and sec here and he's accusing twitter of misleading regulators -- misleading investors and users, and includes some serious lapses with security and protecting user data and also a national security risk and accusing one or more employees of being outright spies. take a listen to this.

>> it's an analogy of an airplane. you get on an airplane and every passenger and the attentending crew have access to the cobb pill and controls. that's unnecessary, might be easy. >> san: i got off the -- susan: i got off the phone with columbia professor john cough pinata a fee and he said -- cofe and he said there's little basis for believing this worried musk or he relied on twitter to behave honorably and musk is probably trying anything and i mentioned to the whistle blower in this case, he's blaming twitter's current ceo for mismanagement, also cover ups, but it's important to note he was hired by the former twitter ceo jack dorsey, who he says was actually really disengaged in the last year that he was on the

job atwitter. as for the tweets from elon musk, if we can bring them up for you, he's taking this opportunity to make his case for that delaware showdown in october and posted this on twitter, this twitter feed give it a little whistle he says and then goes onto say spam prevalence was shared with the board but the board chose not to disclose it to the public. if you judge from the stock reaction today, liz, looks like wall street thinks this obviously helps elon musk and his case to walk away from the takeover deal. liz: or get a lower price. his original price is $54.20 and now at $40.44 but the high of the company for at least annually, i believe it was september, $68.41. susan, it's stunning to me and i just don't know if the delaware court is going to buy any of this. they'll simply say, hey, a deal's a deal. you made it and you agreed to sign off and not do due

diligence. susan: or you have to pay the billion break up deal and the amount on top and elon says if you give it to me for a good price, let's make a deal. liz: here's a question, how many use zoom video conferences in the last 24 hours? me, three times. it's not helping the stock. so whatever you did, yeah. zoom is down 16.25%. shares are down and zooming south after the pandemic era darling lowered its full year guidance for revenue and earning and small businesses changed their habits and are not flocking to the services frequently as they did during the height of the pandemic. however, enterprise sales is a corporation and they're strong. it's been a rough year no matter what zoom says for the company. the stock is down 55% year to date. flip it over to palo alto can't

and the company reported better than expected quarterly earnings and palo alto announcing the board approve add three for one stock split and is expanding the stock repurchase program by $915 million to a total of $1 billion. cybersecurity rivals we should check those. z scaler, crowd scaler, fort net getting a nice move. crowd strike up about 4% and z scaler by 2% and fort net up more than 1%. the numbers are in and it is a record breaker for warner bro's discovery streamer hbo max. so, folks, we were talking about this yesterday; right. nearly 10 million people, this is the number we finally got, tuned into the premier of the game of thrones prequel house of the dragon making it the largest audience for any new hbo original series. yes. the big ratings might have been

bigger though because thousands of viewers reported technical issues, particularly viewers trying to watch the show using amazon fire sticks. they could not log on and see it. you could have predicted the big ratings anyway because on sunday, house of the dragon trended on twitter for 14 hours and number one on google trends. that said, even with the two-thirds of a percent move to the upside for warner bro's discovery, not even the dragons can save them, the stock lost 14% this month and 45% year to date. chinese ev makers getting swamped after one of them paying a wider than expected seconder quarter loss and guidance for third quarter sales and deliveries. x pang getting clobbered down 10.5% and what's at the heart of this? we've been telling you about sporadic and continuing covid lockdowns in china. they are having an affect on in-store sales. other chinese ev makers neo and

li are trending lower. speaking of evs, tomorrow, make sure to tune 234 for our exclusive interview in studio with general motors ceo mary barra and we'll talk about the sales of ev hummer pick up. general motors re-instated dividends. not as much as before the pandemic and what was going on in mary baara's mind and she knows she would never put out that brand new dividend if she didn't believe things look strong even adds ford is laying off people right and left. the state of the vehicle industry including autonomous vehicles. on the topic of driverless technology, las vegas goes from sin city to take a spin city but with no driver. take a look at motional's robotaxi service hitting the vegas strip with a lyft service. we asked about the plan to scale

beyond the glitter of las vegas to the rest of the u.s.. when? how much is it going to cost and when rivals should be threatened now? closing bell 38 minutes away. take a look at the s&p. are we about to see it turn positive? you got to stay with me the rest of the hour. nasdaq holding onto 34 points of gains. don't move, we've got all the stories and more right after this quick break.

liz: we still have red on the screen for the dow jones industrial. keeping an eye on it for you. the s&p down one point. see if it changes. what happens in vegas stays in vegas unless you're talk about self-driving taxis coursing up and down the vegas strip and they'll hopefully hit the streets of other u.s. cities by next year, at least if it's up to motional, which is a joint venture between hyundai and tech maker aptiv and they've had their fleet of all electric and fully autonomous r robotaxis driverring around sin city for one week now. riders go on the lyft app and order the the ionc5 car to get u from your pool party to the strip. there's drivers there in case of a emergency for the beta rollout and the goal is to be fully

person freebie next year. joining me in a fox business exclusive motional ceo. give us the update. five days of this so far. how is it going? >> great rider feedback so far. at the end of every trip, we get rated like a normal lyft driver and almost all five star ratings and the feedback overwhelmingly positive. we're developers of driverless technology and about the most cutting edge tech out there. what we find though is riders, you know, they don't care that much about the tech. they just want a trip that's safe, that's comfortable, and that's very smooth and that's the feedback that we get. they say, wow, what a smooth ride. absolutely loved it. that's music to our ears. liz: i understand they're free for now because you want to get some adoption here. how much would something like this cost say in a year if i need to get from the bellagio to

the las vegas center? >> we'll be competitive with human drivers and we don't want to offer a service that's going to command a steep premium. riders want to get from a to b so we have to be cost competitive. the exciting thing for us as technology developers is we see a path to a point where we can offer a service that's in fact cheaper than a human piloted trip. that really excites us. that telling us that we can unlock a large market opportunity in the coming years. liz: there's so much discussion about who needs this. we just actually showed some of your video that involves people who are sight impaired. extraordinarily helpful but again, they don't know where they're going so they can't ask the driver. what safeguards are build in? audio to automatically access so they can talk to a human if something doesn't feel quite right? >> yeah, all those things. we've done quite a bit of research on the accessibility side and we've got touch base

controls and they're physical in nature and physicals who are sight impaired can access them and ability for a rider to talk so someone remotely, what we call remote customer assistance. in fact, some of the feedback we got was in particular from individuals with sight impairments, they felt safer in the vehicle that was unoccupied rather than being in a vehicle, you know, with a stranger. so we feel that from accessibility perspective, we really have a lot to offer with driverless technology. liz: when will you start charging in vegas? >> that'll be next year. we're just getting off the ground, you know, launching with a handful of vehicles. as you mentioned, learn ago lot from customer and rider feetfeedbackand that's valuabled 2023 is our commercial launch and we'll collect fare revenue from riders. liz: you've got amazon subsidiary zooks and we tomorrow have mary barra, the gm ceo and

they're working on something and we did that in phoenix, arizona, wamo is google's self-driving vehicle and how do you stay on top here and lyft's effort within this? what's important about this? >> what's unique about motional, we have in my view the strongest partnerships in the business. as i said a minute ago, ultimately you've got to be able to offer a service thiazole cost, comfortable and safe. there's a technology and software part of this and also the vehicle part of it. so motional is partnering very closely with hyundai to get the right vehicles as the right price on the roads. hyundai does a better job than anyone on the road so that's a huge advantage for us at motional. liz: i'm going to try it when i get to vegas for the consumer electronics show. thank you, karl. come back when you have more news to break here .

liz: retail bell weather mall mart, they made headline -- wal-mart, they made headlines showing their customers were shifting into food and consumer staples and out of personal electronics. what does this mean for the company who's chip architecture is used to build billions of chips embedded in smart phones, sensors, servers, internet of things. washes, so much more. we've got the -- wearables, so much more. we've got the ceo of arm hold next. everyone is talking about the meta verse but few know it was a woman that dropped out of high school and got into mit without a high school degree when she was a teenager. she's now one of the most important people running her company where companies are flocking to create their own meta verse. how did karen sinha strike her own journey to create illumix and has companies like disney

clambering to partner with her. what a journey to tell. check it out on my podcast everyone talks to liz. we just dropped it, it's the brand new episode there. closing bell ringing in 26.5 minutes. it's just a little bit weaker here down 127 for the dow industrials and low of the session down 204 and we're watching this thin volume day as we come back in just a moment. stay right where you are.

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the launch of apple's iphone 14 and reports are it'll burst onto the scene in early september with an upgraded processor. the chip is believed, all though not confirmed, believed to be arm based. arm is the largest chip architect in the world and seen as a bell weather semiconductor industry and it is the leadered

in providing the cassioppi techture for chips that go into wearables, gadgets and things and a lot of evs and autonomous driving are based and reported a record number of first quarter unit shipments from the partners with 7.4 billion arm-based chips. let's get more on this and the demand that's happening right now in a fox business exclusive, arm ceo renee hoss is joining us. renee, that's a big number and i like to remind our viewers, is it 10 billion or more now? 10 billion arm-based products are out there floating around in the world? >> well, our partnership is 7.4 billion units in the first quarter since arm's inception. it's number 230 billion units. liz: i was a little off there. >> it's a big number. we're talking big numbers. liz: i remember when it was 100 billion and now it's more than 200 billion. tell me about demand at this point because, you know, you heard wal-mart and their warning that people are not buying

electronics and they're just saving their money at the moment as maybe we head into a recession. i'd like to know your thought on that, but they said people are opting out of buying discretionary items like alarm clocks or who knows what, upgrading a new phone. what are you seeing? >> those businesses are really strong and we heard overslowdowns like pcs and phones but for arm, what we're seeing is even in those devices, more and more processers are being used and compute and even in those markets we're seeing growth. generally speaking, there's a lot of demand for compute and our business, liz, is really quite good. liz: talk about pricing. a lot of people look at microchip industry and say it's like a commodity. depending on the weather, you know, demand the prices go up or

down. are you lowering any of your prices at this point? >> we have an increased demand on all products and can't comment too much on pricing but there's been really, really an increased demand for all types of products and supply has been really tight as we all know. some of the pockets look like they're see ago bit more supply, but i think that's classic of the psychotoll be honest with you. the long-term secular trends are good for our industry and you have to look around the dingtyization of everything. there's electronics everywhere in our car, our holmes, our work. you can't get away from it. so i think in the long term, the demand is going to be really, really strong for what we do. liz: that's interesting you mentioned cars. you've been at the forefront of really pushing arm to stretch out it is wings and go beyond just shoving things into electronics or smart phones. talk about your autonomous vehicle push and we just as you know had motional ceo on and

they're doing autonomous vehicle rides with lyft in vegas so this seems to be starting to really be a thing, is it? >> it does. cars are full of electronics and cars are full of processors and your instrument panel is full of processors and automatic brake system and power train and everything that makeses car go. there's lots of processors to move them and in a previous segment when talking autonomous vehicles, the amount of processing required to have a car do self-driving is enormous. it's also very real. i've taken a ride and i know you have in a row bo taxis and it was safe and cool. it also take as lot of compute capabilities and a lot of compute capabilities to be very efficient. these are mostly going into electronic vehicles and these vehicles have batteries and the batteries are there to have the car go, not so much to do all the compute, but yet there is a lot of compute inside the car

and it's a real challenge for not only compute but compute efficiency, which as you know is something arm really spends a lot of time on. >> on this trip you took in your robotaxi in san francisco in a gm cruz, tell me about the experience. you hail it had and where did it come? did you walk up to it? just describe that for us. >> myself and kyle both, the ceo of cruz, we took about a nine minute drive through the streets of san francisco. sounds like an old tv show. it started cool. we hailed it via the app and the car showed up to our location, not at the wrong corner or wrong side of the street but within 1e and off we went. the car was very safe and followed all the rules and stayed in its lane and full stop signs and had an intersection with one other car and that car was also a cruz robotaxi and they both politely waited for one another to cross. it was very, very safe.

i felt really at ease to be honest with you, and i was convinced after that little ride, this is the future. liz: let me ask you about the average car. whether it's internal combustion, ev, autonomous, what is the average number of arm-based chips if you can throw out an average that are in the basic car these days. >> dozens and dozens and dozens of arm-based chips. the instrument program, there's arm chips doing the display and everything around that . the audio system, all that playback, that's arm. the ecus, the electronic control units, power windows, everything that has to do with the brake chain, that's a lot of arm inside. there are a lot. there are a lot of our partners who provide these chips as you know, we don't build the chips. it's done through our partners. we have lots of companies that provide solution there is, but there are dozens and dunses and dozens and only to be more. i could see in the future, you

know, hundreds and hundreds of arm cp us in the future and that's counting with you have to do the autonomous-type systems and there's a lot of technology and automobiles. >> you can't talk about eventually extricating from soft bank and ipo. what kind of market conditions are moving with ipos? >> i love to talk about arm, liz, and all the technology that we were in and the one thing i can't talk about today is the ipo and it's really based on the timing of where we are in the process right now. liz: i totally understand that. one last question: and i know you all -- classic me. asking what you can't talk about. apple launching its new iphone in september. again, i know you don't talk about your particular customers,

but you know, as you watch the development of these smart phones, what do you see for the future of them? all of them? >> yeah, so one thing we see in all smart phones is just continued invasion. we mean new products every single year, a lot of ai, a lot of machine learning, you know, the smart phone is become our life and digital wall and the at a conference last week and had to show my vaccine card. thankfully on my smart phone and pull it up quickly and you're going to see more and more integration of ai and machine learning to makes these devices smarter. also with augmenteed reality and pair up with the smart phone and find out maps and such and not look down at your phone. innovation is not dead in smart phones. liz: no, and anybody that worries about any kind of recession knows you'll worry about operation of things and

running by semiconductors and many based on ark tech her. rene, thanks for coming on. >> thank you. liz: before we go to a commercial break, we have sad news to report. hedge fund pioneer julian robertson has died. for two decades, the billionaire investor led one of the largest and highest profile funds, tiger management. robertson trained several fund managers who spun off and known as the tiger cubs. according to his spokesman, he died in cardiac complications. julian robertson was 90 years old. we're coming right back.

liz: we have an emergency situation developing right now, water levels at the largest reservoir lake meade after two decades of drought. lake meade expanded arizona and nevada. most visited place in the park system. as lake meade shrinks and shuffles, so do businesses depend on the lake for hundreds of thousands if not millions of dollars in tourism. kelly o'grady live at lake meade in boulder city, nevada. reporter: good to see you, liz,

listen, liz it is tough, drought is not certainly new to the western u.s., the worst experience in 1200 years. the top of the mountain a bit darker than the rest of it. that is the water line. shows you how far the water dropped from its peak. it looks pretty close, 200 yards or so the locals here tell me the marina used to be a mile a way. what has happened they have actually had to keep moving the marina as the water recedes. look around at this, the operation is rather big, the boats, dock yards, in good year the manager tells me they move it once or twice. takes a month to prepare, build infrastructure. this year they had toe move it nine times. before inflation started growing that would cost up to $100,000 each time. the dad news i can tell you resilience is palpable. they're finding new ways to innovate. for these folks drought is simply part of life. >> my family ran this business for 65 years. we've seen a lot of lake levels,

elevations, ups and downs lot of things, we don't plan on going out of business right away. reporter: what can you expect when you come out to lake meade? everything is boating. everything is operational. a lot of excitement here. it is really impressive how resilient these businesses have been in the midst of a drought on top of all the other challengers you're facing liz. larry: it is a very fright -- liz: very frightening situation overall. we full for the small businesses because they're the backbone of this economy. thank you very much, kelly o'grady. closing bell ringing in five minutes. look at intraday of the nasdaq really indecisive at the very moment. the ben benchmark index touched unchanged level. it was clinging to a 50 point gain. a minute ago, look at that that is pretty obvious as you see points of red, up, down, flat line, circle squared alternative invests ceo jeff sica.

so i pulled you away from stuart varney finally? >> well, it is good to be here. liz: yes, thank you. now i'm mad at you. i'm thrilled. every time i see you on "varney." >> remember i was on with you first. liz: that's right. >> i owe it all to you. liz: you remember that. >> i remember that. liz: you remember that. what is your macro mixture for the markets we see a lot of indecisiveness with nasdaq, red on the screen? >> there wouldn't be decisiveness until jay powell comes out and speaks, market, got through earnings, we're tail end of earnings now, doesn't seem like people really care much about earnings now with this jackson hole meeting, with jerome powell speaking. seems like they're very focused on exactly what he is going to say. so he is holding the future of the market in his hands. so now the market will be volatile. it will not have any direction

until he definitely says something of note. liz: i'm looking at the 10-year yield. 3.05%. we know that mortgage rates have climbed because he and the rest of the fed heads who spoke last week, five of them were very, have he clear. it was almost like i'm not saying they were, sent out to say, no we'll continue because we need to slay inflation. what is the assessment what will happen on friday? >> this is the biggest question all week. i've been talking about this, honestly believe what is going to happen, you're going to have jerome powell we said this last week, we're hearing other fed members say last week, they have to take what would be considered drastic measures. he is going to try. now the markets moved up because a lot of people thought the fed was on the verge of pivoting. i heard that word pivoting over and over and over but what i think he is going to say is he going to say they need to be vigilant.

because if they are not, then they run the risk of inflation getting worse. at this point he is in a no-win situation. if he doesn't do enough the markets will be concerned that he is not doing enough to stop inflation. if he does too much they will be concerned that he is slowing down the economy too much. so that is why the market right now is in a very vulnerable position. liz: okay, but our investors don't have to be vulnerable. where should they be, you know, pile of little cash here or big, where are you putting yours you can maybe hear what you're doing? >> i'll tell you, it is hard right now because looking, you're looking at a lot of, a lot of the stocks that the, tech stocks that took all of the liquidity out of the market. i really like residential reits, i really liked them for a lot of reasons. one of the reasons is they're multifamily, they are investing in apartments. there is a shortage of

apartments, for whatever reason residential reits have been underperforming. so i'm spending a lot of time trying to buy things that i anticipate firms like blackstone are going to buy. liz: and they pay dividends certainly but you're not worried at all about a housing correction or recession? yesterday tri point ceo says we're in recession. >> there is single family redential recession. there is low supply. a lot of people are pushed out of the residential market. when we go into times of recession when apartments do best. people can't afford to buy a home. you have right now, we have a shortage of six to seven million apartment units. liz: horrible. >> crazy. liz: yeah, and rents are so skyrocketing. >> they're sky-high. we need to build more. so these residential reits, brs reits, they have

apartments in texas, those are the types of things people should be looking at. liz: jeff sica good to see you. fed stuck between a rock and a hard place. we'll watch all of it on friday. [closing bell rings] liz: we're here for you. s&p down nine. nasdaq turned negative as well. thanks so much for joining us on "the claman countdown." "kudlow" is next ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. so as a long-time confirmed, congenital optimist when it comes to america i hate bad news of any kind really but especially bad economic news. now to be sure we've always suffered through these cyclical recessions. we've had 13 recessions counting one quarter covid recession since world war ii but recovery is always far more powerful than the downturns an