energy prices and it's a huge dilemma and has to stop and should never been visited upon in the rest of america. other states are looking at adopting these policies. please don't. let nature take the course and the green revolution come in a timely manner and no more average pain and they can't afford it with a tesla nor the gas buckets. liz claman, you're from the golden state. you know what i'm talking about. liz: i am but i'm a diff tay of evs and i don't have to go to the gas station, it's awesome. i'm telling you, charles. charles: you can afford it but the other people paying all the money, it's devastating. liz: price haves got to come down. charles: we can't keep making gas -- we need to use the gasoline and make it cheap and one day everybody can afford a tesla. liz: we'll talk about that transition and how long it should take according to one of the greenest guys on wall street, that would be larry fink in just a moment. charles, before we get to the markets and all that's breaking

as far as the markets are concerned, we want to take our viewers live to buckingham palace in london where darkness has fallen in more ways than one. crowds are grieving and they're amassing outside the gates of the majestic palace of queen elizabeth ii, britain's longest reigning monarch and word came at 1:26 p.m. central time that she had passed. she was surrounding by her family including eldest son charles who at age 73 is king of the united kingdom and known as charles iii. the royal officials making it known the first king of england in more than 70 years has been named. very immediate and tributes pouring in from world leaders including president biden, former presidents trump and obama. and more. we have a brand new headline coming out. the duke of sussex known as

prince harry has just arrived at the estate. we know all the relatives very close to queen elizabeth rushed there, harry of course coming from california. certainly at least from the united states, he's not just arrived. any breaking news, we're keeping a very close eye on all of this news surrounding the historic passing of the world's oldest and longest serving head of state. we will get those developments to you as soon as we get them. in the meantime, let us now turn to the markets, which right now we're looking at a green picture. not too muscular but it's good enough here. we have financials, healthcare, materials leading the bulls while tech and consumer staples bring up the rear. the big driver at this hour, don't be shocked, is once again swirling around the federal reserve and something that came straight from the horse's mouth just a few hours ago, speaking as the kato institute's 40th annual monetary conference, fed chief jay powell gave

investors a new word to obsess over. that word is forthrightly. we're calling it the new f word. powell could not have been more clear in stressing that the fed will directly attack inflation. >> we need to act now forthrightly strongly and keep at it till the job is done. liz: translation, stop envisioning or imagining a pivot away from the current rate tightening cycle. the fed saying we're in it to win it and the ten year yield and reacts to statements from the fed and stands at 3.295. it is right where it was cause we were looking at this. it hit in september on the first of this month, 3.29. same as traders sense that a strong august jobs report coming out the next day would keep the fed in full on tightening mode in order to slay inflation. this time is looks like investors are finally taking powell at his word. markets now pricing in an 86%

probability that we'll see the feds hike another 75% basis points. the dow is up 38 points and s&p up 5 and nasdaq flat on the session and s&p, inter-day picture earlier it was about to kiss the 4,000 level and may have even gotten there. how should investors interpret jay powell's fortitude with other fed speakers saying within the last 14 minutes, there's still a danger of overtightening. to our floor show, we have "the wall street journal's" nick dimaros known as fed whisperer and he's been on point when it comes to predicting the fed's path and getting inside his mind. nick, jay powell is crystal clear this morning and in the last half hour charles evans saying "overtightening is a concern once rates get to 3.5% range". what's with the mixed mesosangs here? who do we believe -- messages

here? who do we believe? >> i'm not sure there's a mixed message. listen to charlie's full comments. he basically said he thinks the funds rate needs to get up to 4%. he thought that might happen next year and obviously others want to get there sooner and if you're data dependent, what does that mean? terms of getting there, and he thinks that the progress or lack thereof on inflation isn't going to change the destination. he said i still think we'll need to get to 4% and it's a matter of how fast. if you were to see softening in inflation in the next couple months, his preference would be to move a bit slower, and i think that's really going to be the big debate at the september meeting. it's not just about 50 or 75 basis points. it's about if you think you need to get to 4%, let's say early next year, end of this year, then the question is really one of tactics.

how do you, you know, space those next few moves out. do you go more quickly? do you go more slowly? that's i think the debate we're going to see at this september meeting. liz: he did say something that jumped out to the claman team and he was focused on the worry that we may be seeing inflation entrenched for a lot longer. liz: if you look at longer term expectations by households, businesses, and forecasters and also markets, you'll see that they are pretty well aggregate around 2%. short term expectations are higher because of high current inflation and also the clock is ticking as i mentioned. the longer that inflation remains well above target, the greater the concern that the public will start to just naturally incorporate higher inflation into the economic

decision making and our job is to make sure that doesn't happen. we're committed to doing that job. liz: yeah, that was pretty strong, was it not, nick? >> it was. he's made comments like that before. you saw maybe a little bit different tone after the july fomc meeting. then you had a risk on rally and that's not what they wanted to see happen. they want to see financial conditions tighten and stay tight and you have chair powell go out and give this very unusually brief speech at jackson hole, usually it's a longer speech. he even said today that was partly by design to get the message across to be more concise and so since then, you've seen, you know, to the extent there's a tug of war or dance going on between the fed and the markets and the fed is trying to tighten their grip a bit more and you're hearing powell echo some comments he was

making in june when the feds seemed truly concerned about rising inflation expectations. liz: okay. we've got our traders john corpina and scott bower from trading floors across the u.s.. john, what are you seeing with a weakness in tech and nasdaq is touch and go up about 8 points, just touched negative. >> good to see there's no major selloff from yesterday after the great activity we saw coming into the trading session today. liz, you and i have spoken about this before and it's about algo's reading headlines. chairman powell is speaking today and other fed comments coming out. the algorithms read the headlines and try to interpret it quickly and that's why we saw a dip in the market a little after 12:00. they read the headlines on having a negative impact on short term in the market and quickly we get stabilization there and intraday we're going to see it. overall we're going to listen

and hear what the fed has to say. we getting a 75 basis point raise and if that mantra it arkisin the market, it'll hold y for quite some time and no uncertainties and comments that change our path will spook the market but in the short term, we're hearing the plan in place and that'll overall bode positive for our markets. liz: scott bower, you're looking at options at the moment. what's the options from the trading that you see but can i spin it forward next week? we're getting that big inflation number, august consumer price index. are you seeing bets ahead of that? >> liz, behind me is the s&p 500 pick and the traders optimistic and the option paper flow today. there's a ton, a ton trading on the 4,000 strike that expires

today. not only the 4,000s, but all the way up to the 4030s. there was even an opening position of 20 some odd thousand contracts up to 4050. these are all options expiring today. very bullish, very optimistic and in fact, on a typical day, we see a put call ratio in the spx about 1.5 to 1 and every call that trades and that's almost down 1-1 today and in the vic's pick, that's the optimism. on a typical day, we'll see over three to one calls versus puts which is very protective and lots of insurance. today, it's lower than 3-1. lots of optimism. in terms of next week, cpi. the market has accepted as i think john said the 75 point hike, and we didn't really react to it. we did have that intraday selloff. that's a good thing unless cpi is really hot, 75 the market's okay.

liz: guys we got to run. nick, again, you have a way of getting inside the fed's mind and understanding what's happening. could you say -- could you forsee a 75 point basis hike in september and at the next meeting another 75 in november? >> i think it's too soon to talk about november. you'd want to see what the data is and the data we get beginning with the cpi next week is very important for the november meeting. as you showed the pricing for september, you know, 75 is priced in. powell made no effort today to push back against it. lael brainard, made no effort to pushback against that pricing. it pushed back against pricing in the past. they know how to do that. they didn't do that this time and that sends a very strong signal. liz: that is exactly the point i think. thank you for making that, nick, it's great to see you. scott, jon, always a pleasure. a busy day on the trading floors and in "the wall street journal" news room, no doubt. get to the treasury secretary

that's just vowed to rid the u.s. of dependence on fossil fuels. she did so while visiting a ford ev plant in michigan. details on janet yellen's visit and explosive comments in dearborn. that's straight ahead. closing bell, 49 minutes away. dow is up about 60 points. watch the s&p. we did get to about 4,010. scott bauer mentioning that and we're coming back on the "claman countdown". ♪

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>> we have always believed in any esg or energy transition.

gas will play a central role for the next 50 years. we have to have an effective long-term transition and we remain the longest investor in hydrocarbon companies in the world today. liz: that was blackrock chairman and ceo larry fink telling the "claman countdown" exclusively on tuesday there's fossil fuel trades that make sense to him because he believes the transition to alternative energy is still decades away. five decades. that is not soon enough for treasury secretary janet yellen who vowed to wean america from fossil fuels today while touting the biden administration billions of dollars of investment for green energy and ev adoption. she toured ford's ev acceptabilitier in dearborn, michigan, a few hours ago and ford is assembling the hyper-popular all electric f-150 lightning truck. grady trimble was there as yellen toured the plant and made her firm prediction.

>> reporter: hey, liz, the treasury secretary spent the bulk of her speech promoting president biden's economic agenda with the inflation reduction act and chips law and semiconductor law and the backdrop of the speech is significant and you mentioned it's where ford makes its electric f-150 lightning. yellen spoke about the president's climate goals and the administration's push to get more americans behind the wheels of electric vehicles. in doing so, she said we have got to get off of oil and gas. >> we will rid ourselves from our current dependence on fossil fuels and the whims of odder cats like putin. >> reporter: the fossil fuel industry didn't take too kindly to that especially at a time when americans are struggling with high energy costs and europe is on the brink of an energy crisis. the american petroleum institute says yellen's rhetoric is

unhelpful and unrealistic according to the energy information administration, the api says, oil and natural gas are projected to supply nearly 50% of the world's energy for decades to come, similar to what fink said. american producers are poised to meet this growing demand they say but we need a comprehensive energy policy from this administration that lays the foundation for long-term growth. in terms of inflation, yellen did acknowledge that that is squeezing american families and that that is the top economic priority of the biden administration. she also spoke to the need to bring more manufacturing jobs to the u.s., especially semiconductor manufacturing and reduce our reliance on china. but the speech was largely a legislative and economic victory lap on behalf of president biden. liz. liz: grady trimble, thank you. it has an interesting dove tail here.

uber eats going all electric. robots taking another major step to delivering your food as autonomous delivery vehicle company neuro announcing today it has teamed up with uber eats for the next ten years. its founder and president here in moments to tell us how it all works that you're going to get your food delivered by that little thing. it's a fox business exclusive. closing bell, we're about 41 minutes away from hearing those bells ring. the dow increasing its gains up about 94 points and s&p 13 and nasdaq better by 27. we are coming right back, don't go away. ♪

liz: uber shares, we take a look at those? yes, they're getting about a one and third percent jolt on news break today. they awe nounsed a decade long partnership with neuro robotics to continue driving forward into the autonomous delivery space. starting this fall, americans in houston, texas, and mountain view, california, will have the option to get their uber eats orders delivered by one of neuro's autonomous ev vehicles. you can see it on the screen right now. the goal is to expand the program to the greater california bay area and who knows where next. everywhere? joining me now to exclusively reveal how this major partnership came act it neuro cofounder and president dave ferguson. dave, today's a big day for you

guys. this was four years in the making as i understand it? >> yeah, liz, as a company we've been operating for six years and our goal was to revolutionize commerce through electric vehicles and we need to attack a lot of different verticals and uber and uber eats in particular represented one. the restaurant marketplace and we're really excited and it has been a lot of work. uber is a tremendous partner and we spent a lot of time with them already and we're really excited about what's ahead over the next decade plus. liz: tell us how it works. >> so customers will place an order through uber eats just as they do today. they will be given the option in areas where we're operating to have that order be delivered by one of our custom autonomous vehicles so this one behind me is our third generation, it's our latest and greatest. so we're hoping to deploy tens of thousands of these in the coming years to be able to do those deliveries very

efficiently and obviously super sustainably as well for uber eats and other partners. liz: you got to explain to me. i'm looking at it on the road here. it looks like something out of the movie sleeper with woody allen. what did you model for? they're smaller, i would imagine there might be -- what if an 18 wheeler comes along and swipes it. what kind of issues did you foretell or figure that it might endure? >> well, so this vehicle as you pointed out is going to operate on roads amongst all other road vehicles so we had to equip it with the intense to be able to handle -- intelligence to handle everything you or i would need including 18 wheelers and kids on bikes so we've really focused on giving it that intelligence to really be able to handle everything that might come. liz, if you like, i can take you over and show you how it works on the consumer, delivery side. liz: yeah, interested to see if

there's an added cost and you've got other partnerships, big ones. wal-mart too. go ahead. >> yeah, we do. as i mentioned really what we're trying to do is reduce the number of trips that people take themselves today for shopping. so in the u.s., we take almost 100 billion trips every year just for shopping and running errands and we think we can reduce or eliminate those trips entirely through a fleet of electric autonomous vehicles like this one. this is our third generation so the late greatest. this is the one we're going to be assembling in california and doing final testing and validation in las vegas at a new facility we just created. what happens is that it will pull up to your curb or even through your driveway and you'll get to interact with it. you may or may not be able to see, it says welcome, liz, on it here. you touch anywhere on the touch screen, you'll get a code that's specific to your delivery so you've ordered through uber eats or one of the other partners and you enter the code in and it opens one of the compartments and shows you within that compartment where your order is. you can see in this case, it's

opening the front compartment. here is one of the internal compartments that has your delivery. in this case we have a fedex box, package for you. you take that out, close that, and then you're able to then close the compartment and it will go on and do its next several dozen or hundreds of deliveries that day. liz: i don't want the fedex box, i want the burrito bowl and i know chipotle made an investment with you guys and you have the deal with fedex and many other operators. congratulations, dave, and thank you for shoring to our viewers. i need the domino's pizza delivered to new jersey so, you know, can we bypass california and get to new jersey first? >> yeah, we're on it. we're on it. dominoes is also as you eluded to a huge partner. we're working on it, liz. liz: thank you so. many. it's great to see you. nuro in a deal with uber eats. we have a fox business alert. the markets at the moment, we're at the half at the moment,

3:30 p.m. eastern time, we have 30 minutes left to trade here. the dow is up 102 points and s&p up 13 standing at 3993 and nasdaq up 30 points and gamestop moving higher after the meme stop darling reported smaller than expected quarterly losses and announced a partnership with the crypto currency exchange ftx. the company will start selling ftx gift cards as part of the deal. gamestop recently launched a digital wallet where gamers will be able to buy and sell non-fudgeable tokens or nft and that's giving them a pop right now. american eagle outfitters falling to a two-year low. that's earlier and slightly off the lows at the clothing retailer reported lower than expected earnings per share and the company runs the american eagle and aerie brands blames lower consumer spending for the week of earnings and pittsburgh-based company would

pause the quarterly dividends program. that's never positive for the stock and investors like dividends and love them in fact. aeo down about 8.5% on that news. investors are snapping up shares of snapchat after a leaked memo in the growth plan and ceo evan speigel outlined his plan. that's enough for nine and a third pop on the stock at the moment and analysts at bank of america see the targets as a stretch. but they're encouraged by the am missions of the company. ambitions of the company. regeneron at the top of the s&p 500 watch announcing promising results from the trials of the eye drug ileya and it's used to treat eye disease related to old age or diabetes pushing the stock higher by 19.5% and regeneron and its partner hold the patent on the medication. as we told you at the top of the

show, the world is mourning the death of britain's longest serving monarch. you're looking at a live picture in london where grieving people have been showing up with flowers and candles in london and scotland where the 96-year-old queen passed. we're going to get a quick break and get the latest on the developments of queen elizabeth ii. apple's new satellite connected iphone 14 may be able to save its owners in a critical emergency, but what it's going to do for the phones and what will they do for the stock of the biggest american company? tech guru dan ives here on that and breaking tesla headlines. closing bell 28 minutes away. dow is now up 121 and climbing.l ♪ y

liz: we have breaking news live

to buckingham palace in lop donn and now home to british monarch charles. he's the oldest to take the throne and queen elizabeth iii died peacefully at her estate in scotland. we got the news around 1:30 p.m. eastern time. she had been ailing but was surrounded with her family and she died peacefully at 96 years old. she holds the title of the longest reigning monarch in british history. let's go to ashley webster who joining us now with both the breaking headlines because a see a lot of people arriving. flags at half staff here in the u.s. and what's next for the new monarch. >> well, it's ten days of mourning now, liz. we will hear from charles. not sure if it's tomorrow or at some point within the next ten days, and i think it will all wrap up with a funeral service for the queen ten days from now at westminster abby and heads of

state will be coming from all over the world for that. she was so well respected and for charles, conflicting emotion and on one hand he's sad for the loss of his mother and on the other hand, he can achieve his destiny being the oldest person at 73 years of age to become king in british history. he said today after the death of his mother, he said the death of my beloved mother, her majesty, the queen, is a moment of greatest sadness for me and all members of my family. we mourn profoundly the passing of a cherished sovereign and much loved mother. newly elected uk prime minister liz truss also gave a statement outside of 10 downing street saying in part today, the crown passes as it has done for more than 1 1,000 years it now mona, head of state king charles iii. with the king we mourn the loss of his mother and come together truss says and concludes by god

save the king. something that will be hard to get use to have wanted liz, all i've ever known was god save the queen for the national anthem and the queen's head on currency and postage stamps and all of that will change. it's quite a dramatic thing. we knew this day was coming. we knew that the queen at 96 was in failing health but even though we've said that. it certainly hasn't dampened the shock and heart felt messages we've seen come from around the world. then eventually we'll hear from charles, maybe tomorrow. he's in s scotland we understand he'll be heading to london tomorrow with kansas city chiefs mill la, his wife known as queen consort and the mourning period will finish with the funeral at westminster abby and then a ceremony for king charles iii where his coronation and ushering in a new era that quite frankly queen elizabeth ii has always been there and it's hard

to think of her not being there, liz. liz: i know. my mom was british educated at the royal economy so i'm named, arkly, after the queen. it is definitely a historic moment and we feel for the united kingdom. ashley, thank you very much. the queen drove her own cars; right? land rovers; right? >> yes, she cert certain did. she was a mechanic too and took pride in putting the hood up and fixing something that wasn't working right. liz: i wonder what she'd do with electric vehicles and the deal being announced here, rivian and mercedes benz teaming up. they'll build two ev vans at mercedes sites in central europe and eastern europe. mercedes benz is down about 2.5% at this hour.

bring in wed bush securities managing director dan ives giving rivian an outperforming rating of 45. what does an announcement like this, rivera indian partnering with up mercedes do for the future of this stock? >> it's the missing piece in the puzzle. they're starting to produce the vehicles and rivian's a unique model. a partner like mercedes is significant and obstructing cerumen the street, kind of use -- on the street and uses next leg of growth. liz: there was concern about rivian and amazon made a huge order and they've taken a hit and the stock has disappointed over the past half a year. does this solidify a better feeling you have about your outperform rating? >> the first six months were a nightmare coming out from the ipo but clearly now, you've seen rj and the team starting to get the factory ramping and hit 25,000 for the year in terms of deliveries and then those

reservations, they've increased and not decreased. put it together and this continues to be a unique ev story and of course there's tesla but i view rivian as one of the disrupters in this market for the next decade. liz: let me dove tail too with tesla. great numbers on chinese made teslas and ramped up the delivery numbers here. obviously they were coming from a very low point because the shanghai gig factory had been shuttered due to covid outbreak and now they're back in action. how much higher do the delivery numbers go in >> the hearts and lungs of the tesla story is china. go back to april and may shut down because of zero covid and now it's come back roaring in terms of the china numbers. we could be looking potentially at 100k month for china and this is significant because what drives tesla in terms of the stock and we have, i think this is ultimately a $350 $400 stock

adjusted and it's all china. it gives the bulls a leg to stand on and shows it's not slowing down, it's accelerating. liz: at 287, 90 for tesla. they can hear the breath of their competitors on their neck coming up behind them on the track. not just talking about general motors that's made a big deal or ford that we talked about earlier in the show. jeep wag near announcing today they're going ev finally with the jeeps. what kind of competition will that do and does it dilute tesla's power? >> it's the biggest rice since the arm's race in the 1950s and all thal worths going after evs. liz: a wrangler ev too. >> what mary and team has done at gm and now over to ford and it's significant and not a zero sum game. i don't view as one or the other. this is just going to be a

massive re-rating story but what we're now seeing is it's not just a vision. you're seeing the cars now going to start coming out with the battery technology and this is big for the auto industry. liz: if you had to pick one -- well, you say it's not -- oh, internal combustion cars were a zero sum. there's not just one winner, is there? if you had to pick one to own though, what would it be? >> look, in ev landscape, it's tesla's world and everyone else is paying rent. tesla continues to be our name. looking at stall worths, gm and ford is a game of thrones battle in terms of who's really going to be the first one to move here. i think it'll be successful and i think right now gm as well as ford, this is going to be huge growth. liz: finally, apple the big news yesterday we talked about and made all announcements whether it was the air pods that have the find my or satellite adoption within the new iphone 14. aside from all that, what jumped

out at you the most as far as driver for apple stock going forward? >> i think no price increase. that was a shocker that they didn't raise prices. i mean, this is a fore gone conclusion with $100 price increase and they kept prices unchanged and that shows more control over the supply chain, the margin accretion from the chips, their own chips, a16, and that's not going to be demanding structure. that was significant, especially with that power chip. no price increase, goes against everything else we've seen. from amazon to netflix and everyone else. cook and cupertino flexing their muscles. liz: thank you, dan. come back soon. dan ives of web bush. ball street still perplexed by the sudden death of bed bath and beyond ceo gustavo arnott. will his death make the stock

offerings more complicated? charlie has breaking headlines on this next, don't miss it. closing bell about 13.5 minutes away. dow is wiggling a bit. up 83 points but off the high of a session a gain of about 202 points and we're coming right back.

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liz: folks, we need to show you shares of bed, bath & beyond right now. they are moving higher 2 1/2%. a bit of an improvement today after a very turbulent week in the wake of the suicide of company cfo gustavo arnal. before his death last friday the struggling retailer complete ad 500 million-dollar refinancing deal that keeps it out of bankruptcy for now but could his death complicate the company's plan for a future stock offering. charlie gasparino has been on the story. >> these stories are difficult to cover. you have to be very careful assuming stuff. people do this tragically do this for a lot of reasons. they could have past mental illness issues. liz: depression. >> depression on top of the fact they're in the middle of a firestorm. liz: a very public one. >> very public. mr. arnal was in the middle of that. here is what is kind of baffling with the people i spoke with,

these are people that worked on the restructure deal that he did. this is kind of a good thing he did. he achieved something remarkable in a short period of time. they got whacked with ryan cohen selling the stock. they have problems on the balance sheet. he didn't cause them. it is the business itself. liz: he took over as they were in big trouble. >> right. all this stuff is going on. he pulls off a fairly significant restructuring. they got lending t was a process led by jpmorgan and they have creditors that wanted part of it. obviously they have decent terms. they have first lien on the assets and retail assets apparently i've been told are something you want to lend money to because you can sell them if you have to take over the company in a bankruptcy. so he achieved something really good. there is potential for a stock sale a stock offering going forward with jefferies. all the stuff came together. he is the cfo he is in the

middle of all of this. this is a good thing then he does what he does. we should point out, there has been a lot of speculation about him selling some stock right around the same time that ryan cohen, the chewy guy that was you know a board member -- liz: these were preplanned. >> they were preplanned. liz: forget that trade. >> when it hit as number. it trigger as preplanned sale. liz: right. >> again, you know, you have to cover the story when a cfo of a troublecompany kills himself you definitely have to cover it and ask the questions but this just may be a thing where the poor guy was just overwhelmed and maybe had some issues. we don't know what was in his background. liz: how does it complicate when bed, bath & beyond has to do? >> that is great question. they need capital obviously. we should point out creditors that lent them money have a first lien or pretty significant lien on the assets.

they're planning in case this thing foes under, chapter 11 or chapter 7, they get, attach those, they get those assets. retail assets sell in the secondary. you can attach them and sell them. creditors know what they're getting into. jpmorgan is leading this. then there is jefferies on the stock sale. the stock sale is where the thing could really be problematic. again you know, people don't like buying stocks of companies when they see this sort of stuff. it becomes an issue like, people are going to ask why did he do it? you know, it becomes, becomes a point, becomes an obstacle to selling stock. bonds, credit, a little different. remember you attach yourself to the assets. a stock is something different. so, i have, jeffries is supposed to run it. i've spoken with the people at jeffries. they do not deny this. they know they have an uphill battle selling it. there is no date specific when

this thing will be sold. you can't do the stock sale then you know starting to talk maybe chepter 11, i don't know. they need capital. it's a tragic story. i covered this a lot. i was there during the madoff thing. i saw what people did. subject of a story that i wrote who killed himself right before the story came out this is not fun to cover. this is not a fun story but you know, you got to cover it. it is part of what we do. liz: charlie, thank you, charlie gasparino. we have the closing bell ringing in four minutes. we know there is a lot of uncertainty in the world right now and particularly with the market which tends depending on the day gets a lot of volatility if fed says one thing, one fed head says another. how great would be during this time to have a low risk investment with a steady income? this fantasy might become reality.

this "countdown" closer has the name of a etf exchange traded fund that does is a. we have todd rosenbluth. todd, it is an etf i want to explain to our viewers how it works? >> so, jpmorgan's equity premium income, jepi, is one of the etfs we're highlighting on our etf platform or through vetify. this etf provides stocks exposure through defensive equities, lower risk equities using options, covered calls to be able to augment that income. so you're getting a steady monthly stream of income. it is yielding consistently about 9% since it has come to market. this etf is just over 2 1/2 years old, $13 billion. its actively managed, you get benefits of the stock picking, you get the benefits of ability to take the options and actively roll those forward on a weekly

basis in a staggered way. jepi is a great etf for investors to take a closer look at. liz: we looked at some of the top holdings there. there are big tech names which is interesting, intuit, microsoft, accenture, alphabet, dte energy, so a mix here. most etfs are not actively managed. this is actively managed. what am i paying for that, the fees? >> you're right. so people tend to think of actively managed etfs as you pay a premium. the expense ratio is 35 basis points. this is the largest of those actively managed equity etfs. so you get the benefits of that stable income but not paying a lot of money. most as you mentioned, most of these dividend oriented etfs, for example, sdog, which is out sector dividend dog etf that will be indexed based. you will get diversification but not getting securities selection. you're getting highest yielding

companies across all of the various sectors and we're seeing at vetfy advisors are coming to us looking for income alternatives giving rising interest rate environment, given the fact bond yields climbed higher. they're looking to etfs like jepi, sdog as alternatives to traditional income. liz: the yields are meaty here. sdog is%, epi close to 9%. close to 4% for sdg. as you look at the fed concern, the etf performance what is positive for putting money into a basket of stocks versus an individual one? >> you get the benefits of diversification with an etf we touched on two of them you hold, companies across various sectors from income generating standpoint instead of getting individual companies where of course a dividend could be cut

or not grown or the valuation could climb higher. diversification is key. liz: thank you, todd. great to have you, todd rosenbluth. speaking of climbing higher, look at the dow, up 194. we're hearing the closing bell ring. [closing bell rings] nasdaq up 68 points. so green on the stay today. we will put todd's picks on liz claman mon facebook.com page. we know you guys will ask. see you tomorrow ♪ larry: welcome to "kudlow." i'm larry kudlow. breaking news, britain's longest serving monarch, queen elizabeth ii, has died this afternoon peacefully at the age of 96. she passed at balmoral castle in scotland where the royal family gathered around her. she was a beloved world leader who will be mourned all across the globe. she devoted herself to public service for great britain and the commonwealth countries for 70 years as quee