they're not going to dismantle the system and no other way to pay for schemes. it's a real amazing week and this last hour will be the most amazing. luckily you got liz claman and she'll walk you through it step by step. liz: yeah, charles, as we kick off the final hour of trade on this friday, there's a really surprising thing about how stocks are moving right now. it's not that investors are buying. it's that they're not fleeing even after this: christopher waller, a voting member of the federal reserve and he's a decider with rate increases said at a speech in germany around noon eastern time he supports another "significant rate hike in two weeks". here's why. >> i welcome promising news about inflation. i don't yet see convincing evidence that it is moving meaningfully and persistently down along a trajectory to reach a 2% target.

i expect getting inflation to fall meaningfully and persistently along the 2% target will require increases in the target range for the federal funds range till early next year. liz: he's hunting for signs that inflation is calming down. he doesn't see them yet. our fed tea leaf reader edward lawrence said that's the longest time frame he's heard from any fed member about rate increasess and how long they'd go on. in jackson hole, the meeting about a week ago everybody edward spoke with said rate hikes this year and didn't mention anything about next year. waller's comment is attention grabbing and the markets, we have inter-days here and they're polling back and climbing back as we kick off this final hour. coming into this week, investors were nursing bruises from three weeks of selloff and ripe for an upside move and they're getting that. all three major indexes are up for the week. nasdaq chloricking about a 4% --

clocking about a 4% gain week to date and don't miss the jump in small and mid caps and russell up nearly 4% on the week as well. what is pushing stocks into that higher stratosphere? all 11 s&p sectors are in the green. look at communication services that kind of goes with tech. along with it, information technology, and energy. those are the three strandouts by consumer discretionary, materials and industrials and consumer staples. if you want to call it a laggard, it's the more defensive utilities but they're still in the green. what's behind investors with the most hawkish fed in years. right to the floor show and two veteran traders, teddy weisburg. the markets are now pricing in, drum roll please, a 90% odds of

a 75 basis point hike, that would be the third in a row to tame inflation. teddy, the bond market is not sluslug shrugging it off. yesterday the ten year yield at 3.24% and now at 3.318% right now. since when do ebbin equity inves shrug off a voting members thumbs up to another rate hike? >> it's a bit confusing, liz, because the bottom line at least for me and i think that i've been reasonably consist on this line of thinking is that more or less that cash is king, don't fight the fed. they're basically telling us interest rates are going up. the question has always been how fast and how high and what we've heard today is we now sort of know how high and the only thing we don't know is how long it will continue and if and when inflation will react accordingly so they can become more

accommodative. i don't see that in the cards at the moment. i think today's rally's terrific. up is always better than down unless you're a short player. so perhaps it's a leaf player and cash is still king, i still think you can get three, three and a half percent in short term governments without any risk. to me that's the trade until the fed changes their position. liz: let me check because i want our viewers to know that . you get a 3.65% yield on the two year and a 3.44% on the five year. if you're nervous and you want to park it, fine. teddy just said, serge, he's very much in cash. i like your word, you're still very cashy. is that a new word? i like that. i'm very cashy at the moment. tell me, when you're ready to really spring out that cash, where will it go?

>> well, you know, teddy and his colleagues were the guys that trained me and my colleagues. we both worked on the floor for a long time statement and we have a lot of -- at the same time and we have a lot of the same thinking. with the fed in a state of group think or group stink almost all of them are so hawkish, so overly hawkish in a environment that doesn't call for it. we know inflation has started to ebb and the economy is not doing well and u.s. households lost $6.1 trillion worth of wealth in the second quarter, worst loss ever, i don't know how you can go full steam ahead in equities right now. i'm backing off. i really think traders can trade. i trade all the time but i'm out by night fall, i'm out by the weekends. i think investors really have to stay only where demand is inelastic. national security, utilities, healthcare, cybersecurity. those kind of industries where no matter what, you need to buy it. you see what europe is doing with energy right now, they need

to buy energy. there's no give or take even if they have to subsidize the people. those are areas you want to be in as an investor. as a trader, go for the home runs because you're going to protect yourself in cash going into the weekends for the night. liz: sure, we have making a new session high, dow jones industrials up 435 points and as i'm watching all of that, you know, the money, the numbers, the s&p up 66, the nasdaq up 252. teddy, all of that goes by the wayside as we approach the sunday 21st anniversary of 9/11. already on the floor of the new york stock exchange as has now become tradition. there was that moment of silence that was very obviously touching and important, and i know both you and sarge was stuck on that floor when the world trade center was struck and hit by the terrorists. years and years later, does it get any easier as each year

passes, teddy? >> well, liz, you know, my great fear for the world is that with the benefit of hindsight, the further we get away that it becomes nothing but a photo opportunistic. op. but the reality is for those of us that lived it, were right there but we all lived it quite frankly. the whole world lived it. our world changed on that day. our immediate world changed. of course those of us that worked in the financial industry and worked downtown, we all lost friends and so forth. but the whole world changed, the world has never been the same since and probably never will. it's a day that i shall never forget, and i'll also say, liz, it's a day that i don't forgive those that made it happen. liz: i'm right there with you, teddy. they can judge us all if they want, but, yeah, you do not forget nor forgive. sarge, you too were there hunkering down at the new york stock exchange because they locked all of the doors.

you as a trader sitting there worrying and wondering. they struck at the heart of freedom and pro par perty, lowe- prosperity, lower manhattan and the financial district. >> i don't like to think of that day. it was one of the worst days of my life. i was outside when one of the building fell and couldn't see in front of my face and walked into a fireman because i couldn't see him. like teddy said, we both lost friends that day. i'll never forget fire falling from the sky, shoes falling from the sky on fire. it's why i ended up back in uniform and re-enlisted in the military after so many years of being out. you know, i always say they say never forget and i understand the good intentions of folks who weren't there or weren't closely connected and say never forget. for those of us who were there, we wish we could forget. liz: sarge, i think you put it perfectly, and we thank you and

everybody who stepped up to serve. teddy, we're so thrilled that both of you are here today to tell that story, and i am with you. let's just not make it a photo op from now on and to that end, gentlemen, thank you so much for telling your story about all of this. coming up, if you really think about it, people like teddy ask sarge that survived it and remember so vividly, wall street symbol of economic power crumbling 21 years ago on sunday's anniversary of the 9/11 attacks and no one company impacted more than finance giant cantor fitzgerald. ceo is here next to share his incredible triumph over tragedy and, yes, we will never forget. closing bell ringing in 51 minutes. nice day of green here. we do have the nasdaq jumping the highest here more than 2% and dow up 414 points and the "claman countdown" returns in just a few moments with a most inspiring story of how cantor

fitzgerald used success to prevail over evil. ♪

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system, our freedom, our success. if there's one company that symbolizes the tragedy it's cantor fitzgerald and occupied the tower above where the plane crashed. a 568 employees were killed. its ceo howard lutnick is a shining example of he and his team with new york resiliency. howard was late to work on september 11 and dropping his son off on the first day of kindergarten. his best friend and younger brother both in cantor's offices when the attack occurred were killed. since then cantor's famed annual charity day raised money hand over fist to assist the families of those employees who were killed and also fill cantor relief's fund. the tally now stands at $369 million. this is not just a story about generosity. it is a story of using success to triumph over tragedy. ahead of monday's annual charity day, cantor's chairman and ceo howard lutnick joins me now in a

fox business exclusive. howard, my friend, they always say that time heals all wounds, but does it? as the years go by, does it get any easier to face these anniversaries? >> well, you know, i get that feeling as this time gets closer and closer to me, you know, sort of hair stands up on the back of my neck and i think of all my friends that i lost. they stay in your heart and then on the days getting closer to 9 9/11 with charity day they get a little duller but not easier. liz: i've covered you for so many years and watched as it all happened. i think about all the stories and some of them were really quite incredible that you have shared with me, sometimes privately and sometimes publicly. the one that sticks out in my mind because immediately even as you were grieving all of these employees, is that you immediately thought i have to

rebuild the company. pretty much from the ground up. let's just call it that. you had the london office but that was about it. you lost all these employees. you told me your people had fired a guy on the friday before 9/11 and that after this tragedy, you picked up the phone and you called him and said, can you come back. that is just an amazing story that always sticks in any mind. tell us what he said. >> well, he came right back and he said, you know, we'd only let him down because we were downsizing that particular area and he came right back and was so incredibly helpful. the people who helped the firm sush vive were amazing. they were amazing. they couldn't be any better, any kinder, any warmer and that's why we survived. we survived because they were just incredibly behind us. remember, we gave $180 million to the families right away and that came because each employee,

each employee gave 25% of what they earned to the families of those we lost. can you imagine that? liz: speaking of employees, to me success is always the best revenge in many cases. looking at what cantor was back then, pre-9/11 you had, what, ten offices globally. how many do you have now? >> we have just over 60 offices now and we had about 2200 employees then. lost 658 and had 960 in new york so about half of our employees were in new york. now we've got over 13,000 employees so bigger, stronger, we take really incredibly cool companies public. we really have got just a wonderful business now backed by incredible people and, you know, cantor fitzgerald was destroyed on 9/11 and it's a wonderful place now. liz: yeah, so it was not destroyed. that to me is the crux of this story that i want our viewers to

know. if we could, i just want to dove tail a little bit because one of the things that cantor is now is one of only 21 primary dealers that has been granted the ability to trade with the federal reserve. i mean, that is just incredible. so i'd be remiss if i didn't ask you to put on your market hat, howard. you're always game for this, the federal reserve, christopher waller today, one of the board members said he wants another significant rate hike of 75 basis points in, you know, the september 20th meeting. tell me, you're always looking at the trade. you don't lament, is it too much or too little. what's the trade on that? >> so to forward rates where pee are expecting rates to be in one year, 3.9%. liz: come on. >> one year forward, 3.9%. that means the market is looking for at least two 75 basis point hikes. that's just what the market is looking for. you've got to expect 75 now,

another 75 coming and then the question is is that enough? you heard powell the other day said he was going to do it till he gets the job done. what they think is getting the job done, you and i don't know. but it's got two 75 point basis point hikes in them now and one coming soon and that's why the dollar is so strong. think about t the ten year german, it's 200 basis points, lower than hours. ours. the dollar is incredibly strong and we're raising rates much quicker than they are. they'll catch up but we'll talk about that next year is europe is raising their rates. liz: is that the trade? the dollar has had such a nice unbelievable run. i mean, it's pausing just a bit but parody with the euro, almost hit parody with the british pound. do you see more of this rally continuing in the greenback?

>> yeah, the dollar -- what happens is rates are going to go up quicker and anybody that talks about foreign exchange and doesn't really focus on the facts that rates are quicker, it just misses the core issues so interest rates going up faster here, we just talked about it. dollar stays strong, stays strong. stocks have a tough bump because interest rates go up and companies like mine, bgc, are wholesale brokerage business and all the interest rates, it's great for business and bgcp will have a great start for the next three years because now with interest rates, there's stuff to play with. liz: right, we just were hitting session highs for the dow, up 420. you look at the rally from june and then we had a bit of a selloff the past three weeks and what appears to be another rally. is this a bear market rally from where you sit or the start of a new bull market, howard, in

equities? >> it's not the start of the bull market unless you see the end of the fed, which i don't see yet. unless you see the end of the fed, it can't be a bull market beginning. the day we see the end of the fed coming, the day we see it, that's the day you want to buy equities right then and there because that's the beginning of the new one. when you can't see the light at the end of the tunnel, we're a little exciting. liz: very exciting. and spacs. spacs have fizzle -- not yours. you have spac news about rumble. your business that you have -- you're looking to reverse merge with. where do we stand on that? >> okay. rumble will vote on next thursday and probably close on the 16th. but rumble is incredibly. i mean, it's a competitor to youtube and youtube has been throwing people off. when i met them, they had 1.6 million users. then they had 30 million users. a year ago they had 40 million users.

last month they had 70 million users, up 75% from last year. 75% growth. they're growing as fast as tiktok was growing. imagine tiktok growing. so this is a rocketship because they throw off people because they sensor them. then they're all coming to rumble and now it's become, you know, huge so rumble is merging with cfdi and it's got such huge growth rate in front of it. huge numbers. it's really exciting and it's a company we took public with our spac, cfdi and our business with spac continues to be great. we're the ones who roll out the winners. i'm not saying other banks haven't sort of come and gone. we've had a bunch of real winners lately, you know, and they've been doing really good. mondi we did just a couple weeks ago up 30%. these companies are done well. liz: well, we're looking at cf acquisition corp. from cfiv

which cf cantor fitzgerald, alive and kicking and god bless you all over there. >> thank you, liz. thank you for remembering and treating it so respectfully. it's an honor for me to be here. liz: and it matters very much and we will never stop telling the story. howard, thank you very much. we'll have a reporter at cantor fitzgerald on charity day celebrated on monday to mark of course that horror of a day 21 1 years ago. king charles may have the ceptor now but he in an emotional and stunning move, instead of grabbing that ceptor today, gave his hands over to the people of the united kingdom as the newly minted king speaks and gets up close and personal with the grieving nation after the death of his mom, queen elizabeth ii, the longest serving british mono-arch ever, he takes the opportunity to very pointedly

express his love for two people that have endured quite a harsh limelight. closing bell 36 minutes away and nice green on the screen. you're going to hear what the now king charles just said about harry and meghan. we're coming right back. ♪

liz: on a friday, a lot of investors over the past couple of weeks have not wanted to go into the weekend long so they've been selling stocks. we do not see that right now. we've got green on the screen. dow is up 422, s&p better by 66 and nasdaq climbing 254 points. can we look at z scaler because it is scaling its way all the way to the top of the nasdaq after reporting quarterly earnings that beat wall street expectation and a gain of 21% and the cloud security is the last cybersecurity to report results and had the best among the competitors. we had the ceo many times on the show and stock trading near the august high -- well, it's above its august high of 182. now at $187.44. after being hammered by everyone from stock analysts to other business networks last quarter,

will docusign have the last laugh? the second best performer on the nasdaq is d ocusigner, the pandemic darling reported second quarter numbers that beat analyst expectations and led wed bush to raise price from $50 to $55 and we're above that at $64 per share. kroger higher at this hour as the supermarket chain raised yearly sails sales and profit forecast and ohio-based chain said inflation caused rise in demand for grocery essentials at the expense of stuff you really don't need, discretionary goods so kroger up about seven and a third percent. crypto, wow, what a move for bitcoin at the moment. 10% right now. that's a $2,000 -- well, $2,010 gain here bringing bitcoin above 21,000 at the moment.

ethereum and litecoin are following and ethereum up 4% and litecoin better by 5.25% and other block chains are jumping higher too. especially the stocks here. look at coin base up 10% announcing it is funding a lawsuit that will challenge the u.s. treasury department's decision to sanction tornado cash smart contracts. tornado cash is a way for crypto users trying to keep their transactions anonymous, high block chain recently announced it had record crypto mining production figures in august so hyde is up 10%. riot better by 120.5%. we're going live to london for a look at buckingham palace and british soucts there grieving the passing of queen elizabeth ii. the lights are illuminating the palace and incredible moment of 96 gun absolute.

all over the british kingdom. britain's new king, charles iii arrived there today. he shook hands with mourners, spoke to them. we can take this full. i want our viewers to see this in case they missed it. this video to me was really incredible. we're sitting there watching and it's a highly unusual moment where king charles is walking up and speaking and accepting, you know, all of the kind words from the british and i'm sure there's some tourist in there too. he took a kiss, yes, a little kiss there. i saw him take one single rose that somebody handed to them. he did this right before he delivered his first speech -- now, you'll see the rose here. but, yeah, he did it right before he delivered that first speech to all of the united kingdom. >> throughout her life, her majesty the queen, my beloved mother, was an inspiration and

example to me and to all my family, and we owe her the most heart felt debt any family could owe to their mother for her love, affection, guidance, understanding, and example. liz: let's bring in duncan larcom. he's the former royal editor of the sun newspaper in london and fox news royal contributor. welcome, duncan. you as a british individual, tell me what this means because a lot of americans do not understand how important the queen was to them and quite frankly her memory still is. >> yes, i mean, it really is quite so extraordinary. there's nothing in british history that you can compare the outpouring of love and affection and respect for the queen. actually i would say we're

probably beginning to see now there's so much respect and love globally for the queen that actually bizarrely king charles and his succession to the throne, that a lot of people are worried about, many in gray suits at the palace, all of a sudden, look, he's effectively having her kind of blessing pblessposthumously today and hes speaking regally in a different tone and reaching out and showing humility and he it was breathtaking and paid an emotional tribute to his mother. he's won himself a lot of fans today, and i think that might continue. not just the crowds outside pucking ham palace and got this complete impromptu chance to press the flesh with the new king.

i think there's quite a few people regretting not leaving their offices early and making their way down to bucking a.m. palace today -- buckingham palace today. liz: how big of a deal was that seeing him approach. we stopped what we were doing in the green room saying i have to see this. it seemed so natural and sweet. >> he pro promised and said many years ago and repeatedly, he said he's not going to be the same prince of wales, heir to the throne,. when he becomes king, it's taken him 70 years of preparation for today, and how nice -- all he was doing was going to buckingham palace to meet the prime minister to do some sort of formal discussion of what is likely to happen now with the funeral et cetera, et cetera. that's all he was doing with camilla, his queen consort by side but when he saw the crowds,

he read the mood and he did something, which as you rightly identifies is out of character. liz: duncan, he took the time to talk about his son, prince harry and his wife meghan, and he wanted to put to rest all of the drama it felt like. talk about what he said. i mean, i thought that was really significant. >> look, i mean, it was hugely significant but i almost feel a bit bad focusing on that, but i will. i'm incredibly fond of prince harry. i've covered him since he was a teenager. i want him, i want harry to mend this rift and this was king charles, he didn't talk about his -- charles' brothers and sisters, princess anne surprisingly no mention of prince andrew. he didn't talk about the right of family. he spoke only of his two sons and their other halves that he

mentioned both by name, and that was an olive branch from a new king telling his son he loves him, he loves meghan, and he wishes them well. that is an olive branch. harry, the ball's in your court, my friend. liz: duncan, thank you very much. and little known, we're going to reveal this, duncan's mother and my mother were both at the coronation of the queen so many years ago. duncan, thank you so much. we are coming right back. dow jones industrials gaining about 412 points. much more to come. ♪

liz: president biden traveling to licken county, ohio, aka silicon heart lland this afternn to help break ground on the new semiconductor chip plant. biden speaking at the site that's expected to draw 7,000 construction workers to build it up. he reinforced the need for domestic chip production.

but there is deeper meaning to this trip. let's go live to edward lawrence at the white house. edward. >> yeah, the president did announce, liz, the chip manufacturer has returned to the united states with this ground breaking that he's going to and he spent the day outside columbus, ohio, in fact on this site there'll be two fabrication plants, not just one, two. the project adds 7,000 construction jobs as you mentioned and eventually will bring 3,000 full-time jobs making cutting edge chips. >> folks, we need to make these chips right here in america to bring down every day cost and create good jobs. >> now before intel made this announcement for the ground breaking, it announced it would distribute $17.7 million into ohio universities to develop semiconductor-focused education and work programs and the visit comes as they highlight $52 billion spent through the chips act to basically build a

semiconductor manufacturing industry in the u.s.. you may remember, liz, the semiconductor was invented here in the u.s. but right now manufacturers make less than 10% of the world's supply. 75% comes from southeast asia and the shortage in chips pushed inflation and meant some car production lines shut down temporarily and semi-cconductors found in semiautonomous cars and 5g and a lot of tech that's evolving and some tech we haven't even seen as of right now. but this is an important step the white house says to bringing those manufacturing jobs back to the u.s.. this plant by the way will open and start producing chips in 2025. liz. liz: oh, man, can't wait. not soon enough for all the u.s. jobs that will be created. edward, thank you very much. all right, from one new chip plant to, yes, breaking news today of another right here state side. let us take you southeast from ohio to north carolina where the state just landed a huge

business investment. chip maker wolfspeed planning to build the largest silicon carbide plant in the world to boost production and meet the surge in demand for electric vehicles and the wolf share seeing a pop of $2.73 or 2.5%. joining us live with the big news from north carolina and a fox business exclusive is wolfspeed president and ceo greg lowe. greg, wow. big news. congratulations. tell us what this is going to be and how it came about. >> well, thanks a lot for having me, liz. what an amazing day it was here today in north carolina. we met with the governor and a whole bunch of other folks announcing this new factory. now, we make semiconductor chips, which obviously are very, very important for the u.s. economy, and we make them on a technology called silicon carbide and we currently have in north carolina the world's largest silicon carbide

manufacturing plant. the one we announce today will be greater than ten times bigger than that so we're taking the biggest factory and making it a whole lot bigger. that's because of the surging demand for this technology worldwide and here we are producing it right here in the united states. super exciting day for us. liz: well, yeah. i mean, let me talk about the work force that is there. i mean, this takes skilled labor, does it not? talk about how you expect to get people trained from at least the surrounding region. >> well, today we announced that we're going to be building this new factory. we announced in conjunction with it a deepening partnership we have with ncant university. ncant is a historically black college and university and graduates the most blag engineers in the country. they are a one hour drive from where our headquarters are and about a 40 minute drive from where the facility is going to be. we've announced a partnership with them for work force

develop, intern programs, scholarship programs and so forth. we work with other universities as well in this area too and so this is a very rich area in terms of engineer schools and universities and so forth. we feel super excited about the ability to attract and develop some of the greatest minds in this technology. liz: brilliant. that is music to many people's ears. where you are going right there to the area and saying, we want you to work here. i mean, tesla has done the same thing. they have in texas partnered up with some of the nearby universities and some of them very technical, and they're training them. this is exactly how it should be. gregg, you're really looking at chips for evs at this point. tell me exactly who you expect to partner with and what an announcement like this does for future partners. >> well, this substantially increases our capability to serve the needs of this technology. the adoption of electric

vehicles, the adoption of silicon carbide in electric vehicles is basically through the roof right now so the demand is skyrocketing up, and this is really going to increase our ability to serve our customers. we've made announcements together with general motors, with lucid motors in t united states with warner and zeta and tier 1 suppliers and a number of different companies eng engagedh us. it's really going to help foster the adoption of electric vehicles, and the reason for that is quite simple. silicon carbide when used in electric vehicles will have -- will allow the car to go 5 to 15% further in range than if you use silicon. this is a giant improvement and one that will help eliminate so called range anxiety that people have with electric vehicles. if your car will drive a lot further, you're goon be less concerned about, you know, the ability to charge it up.

liz: yeah. >> silicon carbide enables the car to be charged faster so you can add 300 miles of range in 20 minutes of charging. so, you know, this is a technology that's really going to help enable this adoption of evs. liz: well, a hearty congratulations and when the ground breaking happens, we want to be there. are you going to invite president biden? >> we'll invite whoever wants to come and, you know -- liz: the "claman countdown" wants to come. >> we'll have you. i was definitely at the white house when president biden signed the whips act and we're -- chips act and we're very supportive of that and thankful for congress and senate for passing that bill. liz: you've aployed from a grant from the -- applied for a grant from the chips and science act. when do you expect to get that money? >> we're understanding that the grants will start coming out in first quarter of next year. there's a whole application process that will happen later on this year, but part of the

grant process is a requirement to get local and state funding and we've certainly got that here in north carolina and we're very, very bullish about that. liz: gregg, congratulations to the whole wolfspeed team. >> bye, liz. liz: wolfspeed jumping 2.5% and the housing market crumbling or shaking a little bit but the count down closer flipping the script on real estate investing. he's got the etf that he says you could cash in on if you believe that the housing market not only is correcting, it could be facing a real fall. nine minutes before the closing bell rings. dow up a clean 400 points. stay tuned, we're coming right back. ♪

liz: four minutes to go. as you look at the markets and these gains, what we are seeing for the major averages for the week is they will close up more than 2% for this week. the nasdaq is up 4.25%. the s&p jumped 146 points for

the week. the dow is up 2.7%. we are about to break a losing streak for the majors. with the market now pricing in at this moment at 90% probability of a .75 basis point increase. we'll tell you what to bet against. joining us now. david cuplo. david, you have an etf you say is a perfect short right now because of something you are seeing on the landscape. discuss. >> good afternoon, liz. it's a great day, a great week for the markets and we like that for our long positions.

we have a satellite portfolio for diversification. it's based on shoargt the dow jones real estate index. it. for those people that own homes, buying homes, we think about that part of it. they saw homes go up 50%, 60%. maybe even doubling in value. we have the fed hiking rates. so the 30-year mortgage has gone to 6%, making housing more and more unaffordable. and we are see can the economy contract, fears of recession. also bad for real estate. we think that continues. we look at the residential side. this is residential and commercial. all the metrics for housing are

weakening and for real estate in general. we think this is a way to diversify some of your long positions. liz: you saw some interesting behavior over at blackstone which has been scooping up foreclosed homes and other real estate. >> what propelled a lot of this increase in housing prices act overall housing sector and real estate sector is institutions like blackstone were coming in and buying up single flame homes boosting the market even more. now they are taking a step back. blackstone in particular. there are 30 markets where they paused their buying. we are seeing the institutional buyers back up, the market back up.

that's a signal. liz: david kudla. thanks so much. the major averages up today, and they are up for the week. so they snapped the three-week long losing stream. we are so grateful every day you join us on the "claman countdown." "kudlow" is next. larry: welcome to "kudlow." i'm larry kudlow. there they go again. joe biden and company on the campaign trail telling us how wonderful their economic policy is. wait a minute scrap the word wonderful, fabulously successful economic policy. biden opennics