we look at the market very closely here and try our best to help you and hold your hand day after day and it's an honor for us to do this and have you watch us do it, but don't ever completely bail out because this is the greatest money making machine any nonroyal had a chance to have access to; right, liz claman? liz: always. as we watch all of these numbers, i'm pretty surprised, chars, i don't know about you, but the key number at this hour is 4. it's the dow s&p and nasdaq closing higher, each will have strung together another bead on the win streak necklace making it four straight upside sessions. last time we saw that, early july so where is the optimism soming from as we kick off the final hour of trade? kind of everywhere. i mean, look at this, all 11 s&p sectors in the green just like back on friday. everything higher, the only difference is friday it was tech and consumer staples that led the charge. right now we have energy grabbing the spotlight followed by consumer cyclicals,

healthcare and real estate. interesting. no doubt a weakening dollar is helping to improve the outlook for equities after a blistering run to a two decade high against the euro, yen, pound, sterling and greenback fever broke friday after the european central bank for the first time ever and really significant, raised interest rates by 75 basis points. now, the euro, which had dropped to a very weak 98-cents against the dollar, jumped the most in six months and right now we're looking at the euro at about $1.01. can stocks winning streak continue? all depends on this, t-minus 18 hours away from the very piece of data that the federal reserve will use at the most important economic temperature gauge before decide how they should raise interest rates at upcoming september meeting. that would be ticking down to

8.1% and that's a multi-decade high and brace yourself and your portfolio because it's out, 8:3w and ahead of it jp morgan is saying, don't worry about it. inflation has peaked because energy prices have come down since their june high. so crude hit a $115 a barrel in june and now stands at $87.84. it's about 6% below where it was when russia attacked ukraine in february. it's an even better picture for wholesale gasoline. look at arbob 15% below where it stood on the day of the invasion. before you pin your portfolio move and most followed global investors and they do not let your investment guard down and joining us from dubai in a fox business exclusive is the founding partner of mobias founding partners mark mobias and we have so many founding

components on this and jp morgan saying the peak inflation question has been answered. what are they mis-ing? >> it's only one component and energy prices are very important and so many other factors and you must remember -- manufacturers in america and other parts of the world are facing so i believe that inflation is going to continue at a high level and they may even go higher, but at least 8% or maybe 7 but we'll have high inflation for quite some time now. therefore i believe the feds will continue to raise rates. liz: yeah, it is certainly expected this time around. we can look at the fed funds futures for the september 20, 21 meeting and it's widely expect that had we will see -- now at 92%, friday it was at 90%, this morning at 88%. 92% odds of 75 point basis hike. do you expect another one in november after the meeting of

this one? >> i believe it will go hire. the fed has a game plan. there's no question about it. when they say inflation at 8%, they've got to get rates above 8% so they have to move in that direction a probably at a higher rate than before. liz: mark, what does it mean for equities and let's start with u.s. equities? i start with this because everybody perceives or hints or assumes that higher interest rates mean that companies cannot see the same kind of profits as in the past. i it is agree with that . i think it's very company specific but just because we have a very higher rate atmosphere, does that necessarily mean from where you sit that equities will be weakened? >> well, the key is the ability of companies to beat inflation. in other words they have pricing power. so the beauty of the stock market is that the good companies that are well run will

beat the market in having price in power. that is the key and that's the reason why as you just heard, equities are great investment for the long term because companies can beat the inflation by raising prices and having pricing power. i believe many american companies can do that. so you have to be invested not necessarily fully invested at this stage, but at least invested in good companies with good return on capitol. liz: can you give me a sense mark on what other inflation matters? i look at shelter. shelter is still incredibly high year over year. rents, home prices are still very high, not to mention that we have wages still climbing, do we not? how do you sort of square that with all that's going on when we see energy inflation coming down? >> well, this is a very important point and energy might be coming down but wages are going up, and that's a very, very important part of the near

inflation picture. i just came back from an extensive trip around the u.s. and people are spending like crazy and prices are going hire. there's no question about it. so the whole issue of wages is going to have a big impact on inflation and of course unions are getting more and more power to raise prices. liz: there's a whole host of unions getting a host of muscle and the pair dime has shifted and they -- paradigm has shifted and they continue to push and does it mean it'll take the fed that much longer because of wage increases? wage inflation? >> i believe so. there's a great demand for labor now and labor unions therefore have the power to push for

higher wages and that was one of the outstanding points of the inflation of the u.s. economy, shortage of workers. all companies are really short of workers and it's a real problem going forward. >> well, look, the new york fed put out a headline today saying we're at the highest level where people if they do quit have the ability to find another job that they like perhaps just as much. bitcoin, we have it up about 5% for bitcoin and some of the other are on the move to the upside as well. >> bitcoin is a leading indicator for the market and the most important point that's being on this side used by the fed and other economists is the importance of the cryptocurrencies. a lot of people are counting on crypto currencies. they're not the kind of people that you would normally see in the stock market, but these are people that have what they consider their wealth in

cryptocurrencies and we have to watch it very, very carefully and of course bitcoin and the other cryptocurrencies come down, then we're all in trouble because people feel very pessimistic. liz: isn't that almost like the market though. people have a lot of wealth in the market if it comets down and that'll be trouble? i think that works for many asset classes but to that point, where are you putting your client's money at this moment, mark? what do you see as you traverse the globe? >> we're putting money into is a very good high return on capital stocks and stocks that have pricing powers as i mentioned. we're finding these companies in india, in taiwan, and in some of the other southeastern asian companies like indonesia, philippines and so forth. there's a great opportunity in these areas and you can see the stock markets in thailand are moving up and we believe these countries will do quite well,

particularly in there. liz: can i ask you for your prediction tomorrow with the cpi for the month of august, it's the best indication of consumer inflation that we have. it's not necessarily the fed's preferred but boy, do they look at it. is there a chance that there is maybe an upside surprise and when i said upside, that's not necessarily a good thing. that means inflation is taking longer to come done a lot >> i think it'll be close to eight, probably in that range. may go down to 7.9, 7-point and will we're at a high level and 8 is probably the key level there. liz: it's after 11:00 p.m. in dubai so we thank you very much for joining us. >> my pleasure. liz: yeah, really late there. >> i'm still on u.s. time because i just returned to the u.s.. liz: well, you're in the pink of health, you look great in your light blue. thank you very much, mark. appreciate you joining us here. mark bobius. folks, week one of nfl season.

did you see any of the games filled with drama as five games came down to the final seconds. steelers, giants, and, yes, browns fans among those thrills or depressed as betters win and lose on the legs of pro kickers. up next, draftkings chairman and ceo jason robins here to tell us exclusively what kind of action his app saw with the sunday nail biters and what he's expecting tonight when r russell wilson ad the broncos face off against wilson's former team, the seahawks. the "claman countdown" showing you the stock performance quarter to date. here's a hint, it's in the win column. so is the dow jones industrials up 228 points at the moment and s&p bet -r by 42 and nasdaq charging higher by 147. we're coming right back. ♪

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liz: 45-year-old tom brady showing he hasn't miss the a beat as the tampa bay buccaneers slashed the dallas cowboys 19-3 in last night's season opener and week one of the nfl season jam packed with down to the wire dramatics. no doubt driving not just football fans but betters on the games. absolutely nuts. online betting only expecting to get better. according to the american gaming association, 46.6 million american adults will legally bet on the 2022 nfl season. that's up 3% year over year. with an epic monday night football matchup tonight, that has a bit of soap opera thrown

in, the betting sites are having a prospect it'll be a record year for them. joining us now for the fox business exclusive, chairman and ceo of one of the blameabling platforms dr draftkings, jason robbins. we had serious nail biters yesterday. but starting with the goat, how much action on the brady versus cowboy game? >> this will vise you but that was by far the biggest betting game of the weekend for us. you know, some things never change and not only did you have the goat, you had the cowboys which are one of the most popular team in the country. really great start and, i mean, every game is great. many, many upsets and lots of nail biters and great start to a tremendous nfl season. liz: can i bring up my cleveland browns? hello, people. did you see that epic 58-yard field goal at the end? i mean i looked at that and said this is amazing. you had the kicker drilling

that. a lot of games came down to the final seconds. explain to our viewers how that plays in to amping up the betting in the last minutes of the game or does it not? i don't know. you tell me. >> well, the most important thing is that the product is so cop pee lining and people are -- compelling and people are watching and generally betting and when they're betting they're watching more and we've talked before about your browns and you're excited to see that and, you know, really i think having close games is great also for live betting. people are more into it and looking at all the live bets and see an increase year over year. every year since we launched in live bet betting and we're excid about that . liz: tell me in the aggregate how the numbers looked yesterday compared year over year. >> well, everybody is up of course. we have new states, kansas just opened a few weeks -- or a week or two ago. we have five states that went

live at the start of nfl last year including new york that went live beginning of this year. everything is up year over year. it's that time i think in the growth curve of the industry where -- i think it's especially true because this isn't the market that's being created from scratch. it's a market of customers that have been betting illegally for many years or in vegas but really, you know, it's an existing demand that's out there and when a new state opens up, it's like the flood gates open and you can tap into a lot of existing demand and products that are new to somebody that would be products that you have to get adoption and grow into them. this is one that's existed for pretty much since the beginning of human kind so people are ready to bet and excite when had their state opens up. liz: products. i've started to see some very interesting offerings. i mean, for example you had major bonuses yesterday that i saw as far as commercials were concerned.

not just you but the collective you of the platforms and the competitors out there. everything from, you know, firse better, you can put down this much and then you will automatically get a whole bunch of other money to continue the betting. the customer acquisition cost haves gotten really high. is there any way to get those down and eventually see your platform as being profitable? >> well, you know, if you look at this year, this nfl season, it is starkly different in a good way from last year. last year there was a lot of irrational competitive behavior in the market. this year certainly has advertising and how can there not be at the start of nfl and new customer promotions and the level of promotions tapered grately and -- greatly and level of advertising has rationalized and the industry has entered a new phase and a lot of exuberance in the last few years and happen to be in a great bull market of our time and i think a lot of that fuel just accepted

sending going the last nfl season and completely night and day this year. if you look at promotions, they're attractive to customers of course and they need to bring customers on the platform and they're significantly down year over year and competition is rationalized a ton and i'm excited we're entering that phase of the industry. >> i get it's not just nfl comparison here. liz: are you expecting a record year of revenues? >> oh, absolutely. i mean, if you look at our guidance for q3 and q4 this year, we've guided substantially up on revenues so we accept a -- expect tremendous growth and a lot fuel bid new markets and a lot fueled by existing growth in states that we've had live for several years now.

to continue seeing a state we've launched year over year is compelling and helps us feel confident that investments we're making in customer acquisitions and opening up the new states are paying back in the way we hope. liz: california voters in november going to the ballot and deciding whether to legalize sports betting in california in 2023. what's your best guess here? >> you know, it's definitely one that i think could be a big prize so we're excited about the potential. obviously a lot going into the last six weeks, you know, so we'll have to, you know, make sure that our message continues to be out there overall we think it's great policy for california and generating hundreds of millions of tax dollars and combat hopelessness and mental health and comes out of the california residents pocket and coming from companies that are willing to pay it. you have an activity that people are doing all throughout california anyway and no tax revenue being collected and no consumer protections are in

place. didn't make a whole lot of sense for californians to vote this up and hope they do in six or seven weeks on election. liz: jason, i need you to say go browns. don't tell me you're a patriots fan or something like that? >> i am. i have a special lace in my heart for the browns because a good friend of mine is bernie costar and he's the best. i love him and love the browns. liz: we love us some bernie and the browns. jason, we'll be watching and join us again cause basketball season is just around the corner and hockey. so we'll see you then. >> i know. thank you, talk to you soon, liz. liz: any time. waiting on patrick mahomes ad adidas or kyler murray edges you ordered? 40% of the nation's freight come come to a screeching halt this

week in railroad worker goes on strike. we'll take you to philadelphia where we're standing by live to tell you what the freight fight is all about and how close they are to picking up the pickets. closing bell, ringing in 38 minutes. the dow still up more than 204 points and s&p 39 points higher, the nasdaq up 136 and russell not bad, up 1%.

liz: reneging on his deal to buy the social media giant. the company's failure so seek consent before paying the former network security chief more. the whistle blower did not breach of the 44 billion buyout and comes ahead of major vote tomorrow when twitter shareholders decide whether to accept musk's deal, which he's trying to squirm out of of course. twitter down 1.5%. let's take a lack at chip stocks. last i checked it was a mixed

picture and these are just a couple of majors advanced demands and flat and added further curves regarding the shipment of u.s. chips sent to china. restrictions will be placed on china and china add menstruation wants to staunch the -- activists. daniel lowe changing his tune after hearing disney ceo talking about how he has plans for espn to be a larger part of the entertainment offerings and he spoke at the d23 expo event

and lobe's hedge fund third point said it had renewed the stake in disney stock, sent a letter to the company requesting major changes and says we're good for now. walt disney up 1% at the moment. apple sitting atop the dow and demand for new iphone 14 and ultra watch are apparently strong. web bush analyst dan ives joining us the day after the big apple event telling you it was going to happen wrote in his sunday note that consumers are lining up for the new products and project 90 million orders will be placed and apple popping 3.8%, $163.34. can i check the market cap, 2.6 trillion. below 3 trillion. shipping and railroad stocks. you need them to move all the stuff you guys are buying all over the place. slightly higher at this hour. fedex, ups, xpo logistics, canadian pacific, union

pacifics, yeah, the railroads could all change this week as 57,000 railroad workers threaten to go on strike and could deliver a huge shock to the supply chain and cause more headaches for shippers. get the scoop from jeff locke there at csx rail yard in philadelphia. jeff, tell me what this is about. >> reporter: it's, you know, sometimes they say when they say it's not about money, it's about money. well, this is believe it or not not about money. it's about work rules. i'm at csx yards and maybe you see a couple idling locomotives behind me and on friday if this comes to a screeching halt, look at shipping con stainers already stocked up -- containers stocked up. on friday if there's a strike, 39,000 containers would be idled. three quarters of the nation's autos would not be shipped from tact factories to showrooms and

replacing the trucks takes 467,000 trucks and we don't have enough now. $2 billion is the hit to the economy. here's the issue, liz, take a look at these numbers on layoffs over the past six years for the railroads. 29% of railroad workers were laid off in the last six years. 45,000 of them in total. that's leaving the ones still there to do a lot more work. more overtime, longer hours, and problems with on call. you know, they say they're on call all the time. it's ruining their lives and they are dug in on this. the biden administration can't do anything about this now. they've delayed but can't stop it. only congress can do that. here is how congress might step in if there is indeed a strike on friday. they could implement the presidential emergency board deal that the folks came up with there and just make both sides accept it. they could make their own deal up, order an end to the strike, and just say go back to the bargaining table or they could

ask for last best offers from both sides and choose one of the two. the only problem with this is you have to have bipartisan support on the part of congress to pass any of this and if there's a strike, democrats don't want to tick off the unions and republicans don't want to give the democrats a win, everybody's got a lot to lose on this. if we get a strike, it's not going to be pretty because there's going to be picket lines right where i'm standing. liz. liz: oh, boy, not about money this time. jeff, thank you. >> reporter: oh, yeah. kind of cool. liz: yeah, well, i dike like whe said, when they say it's not about money, it's about money. 29 years since the wars in iraq and afghanistan. 21 years since the wars in iraq and afghanistan. veterans continue to get a helping hand from charity near

and dear to my heart, building homes for heros. we donated, it's on the screen, our 300th mortgage free custom home to a wounded vet over the weekend. we couldn't have done it without your generosity, this time around real estate magnate ross purough jr. of the real estate group jumped in to help. up next, he's joining us on his involvement and how he sees the current real estate landscape developing so-to-speak. we're 26 minutes away from the closing well. don't move. we're coming right back. ♪

liz: for now the 21st year americans gathered yesterday at the 9/11 memorial in new york city to commemorate the 21st anniversary of the deadliest attacks on u.s. soil.

two years after the attacks, the u.s. military retaliated against iraq and afghanistan and soon thereafter soldiers began to return home with life-altering injuries. that sparked the founding of building homes for heros, a nonprofit that began building mortgage-free homes specifically customized to the injuries of our worst wounded soldiers returning from the front lines. on saturday, building homes for heros gifted its 300th home to army veteran jonathan merchant and his wife stephanie. you're looking at video from north lake, texas, when it happened. jonathan, now a paraplegic got the keys to a four bedroom, three bath home in the hillwood community of north lake, texas. this time we couldn't have done it without ross perot jr., the real estate magnate that founded hillwood, now one of the country's largest commercial and residential developers. joining me now is perot group and chairman ross perot jr..

ross, i'm so over the moon grateful to you. this charity, i've been working with them for 12 years. our viewers know it well. they've donated so much money. when a guy like you and hillwood step in to help, tell me about the gifting of the home this weekend. what was that like? >> well, liz, it was an amazing day as you touched on and to have the boy scouts, the cheerleaders, the high school band, hundreds of our community and members out there to see john and stephanie. it was a wonderful, wonderful day. to see the joy on their face when they went into their new home, that makes everything worthwhile to help this wonderful couple. very exciting. liz: you've been working with us for, what, since 2015. i mean, this is your seventh home. >> that's right. liz: talk about how over the years things have changed. it was just a couple of years ago that lumber was really, really cheap and then game unbelievably expensive. how do we expect our veterans

that are wounded in such horrific ways to even buy a tiny cottage? how has the landscape changed and how does it look? >> liz, you make a very good point. that's why we, and the community have to help our veterans, especially the veterans with very extreme injuries build homes that can handle their family but also take care of them because these injuries are extraordinarily difficult and you saw quickly in that video, we have a whole system to help jonathan get around that home so we the community have to help, american citizens have to help, but then homes for heros, this is the 300th home. more to come, hillwood's done seven, we'll probably try to do two years is our goal, it's a critical part of our community to bring these families in so it helps everybody, liz. not just the family. liz: no, and we can't just leave these men and women to their own devices. it just doesn't help but what we have found, ross, is that when

they get these homes, they go onto start businesses and wounded vets start chocolate and candy businesses and motivational speakers and they're be a better life and they don't worry about the mortgage they have to pay. they don't have any income in many cases and they're able to become contributing members of society. is that what you see with it? >> for sure, for sure it helps them become better members of society and they're already great members of society and they've got that serving heart and they've committed to the nation and they've committed to the life of the nation and they'll give far more back to pecan square and to harvest than just a home that we gave them. to have them in the community with the children, with the families, that is the image of a real american hero and so as i

told jonathan and stephanie, you are so great to come to our community because we need you, we need your example. they've got decades of service left to give us. liz: and i don't know if you know this, but our viewers have been unbelievably generous in helping and we always say, we'll take anything. the couch change that's stuck underneath the cushions. with can broaden the line here and talk about the housing market and we're seeing some regions come down but we're still very high and still have mortgage rates in some cases above 6% and way above 6% at the moment. where do you see any kind of give on the atmosphere at the moment because people really want to buy homes, but we've got average fixed rates at about 5.89%. >> i recommend all future home buyers, you need to wait. the market's in transition. we're certainly -- even in texas, in dallas ft. worth, we're the number one home

building market in the united states, we're feeling a slow down. we were going to build 58,000 new homes last year, it was probably come down into the 40s and it's a strong market, but we've got great demand but there's inflation problem and mortgage rate problems. ththese homes are too expensive. with a correction in the market, you should see affordability. i'd recommend waiting. if you can wait, wait a bit before you can buy your first home. liz: that's good advice. you're in 13 different states, you've got 40,000 lots, i believe, for single family, 103 communities. where is the biggest demand? >> in texas. liz: still. >> just to be -- we're active in florida, we're active in texas, but we have 1,000 people a day moving into this state. this is an incredible economy, it's an incredible environment. al las fort worth has 375 people moving in a day and this is where we're building as an

investor banker told me, he said you're a long texas and we're certainly long in texas. we've got 30,000 acres in this state of development land and decades of development in front of us. liz: it's a great place to be with all that. how closely do you watch the federal reserve and what they may or may not do on september 20 or 21st or each meeting? >> i'm a real estate developer, liz. are you kidding me? we're tied to the federal reserve and the ten year treasuries and it's a big impact on our business. we're certainly watching it and my advice would be hurry up, get the increases over, get the pain over, and let us start rebuilding this economy. liz: but you can still operate and make profit even if rates go another couple of percentage points higher? >> well, you'll operate and you can make profit, but it gets tougher and tougher. if we can get the supply chain unlocked, if we can get inflation under control, new we

have a chance to deliver a more affordable home, which is always our goal, but they're head winds and if you're not well positioned for it, you'll see people get in trouble. liz: ross, it's great to have you on the show. i cannot thank you enough. you and your entire team for what you have done and are going to do for building homes for heros. we appreciate it and thanks for coming on. >> well, liz, thank you for your great support for this wonderful charity. liz: it's nothing compared to what they have done. how they have served this nation. thank you. >> great, thank you. liz: so, you guys, if you would like to help, ross perot jr., building homes for heros, and i build custom mortgage free homes for our injuried veterans who need it so bad i did, i am serious when i say, give me a nickel. i don't care. whatever you can give. just go to buildinghomesforheros.org.

make sure to put building in there, buildinghomesforheros.org and make your donation. you'll never regret it. 06 years ago -- 60 years ago, john f. kennedy challenged you are the united states to be the first nation to set foot on the moon. we're in boston for a moon shot of his own. closing bell, about 12 minutes away and dow back up more than 200 points and up 207 at the moment, and we are coming right back. ♪

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wow. i can do better! yes you can! i can do better, too! now you really can do better! switch to the fastest mobile service - xfinity mobile. now with the best price on two lines of unlimited. just $30 a line. ♪. charles: breaking news, president joe biden expected to speak at the jfk presidential library in boston at any moment. the president focusing on his cancer moonshot initiative which aims to cut cancer fatalities by 50% over the next 25 years and to do that there may be a big supportive governmental push going to biotech. let's get to edward lawrence live at the white house ahead of it, edward. reporter: he will talk about spending more money. the president making the address on the 60th anniversary of the moonshot speech by former president kennedy at rice university.

president kennedy was making the case we have the scientific foundation that we have the foundation to to do the moon. president biden says we have the foundation to cure cancer. he believes we should deliver on the foundation. the president will sign a executive order to create a biomanufacturing and bio initiative to bring possible cancer curing drugs to the united states. he will identify and highlight a new blood test a trial bloodshot that would identify many different types of cancer before that cancer forms. as well as a closer government private partnership, the president will talk about, for cancer research. now here is the president in boston earlier today. president biden: all the way back in 62 the moonshot was announced. we'll have a moonshot for cancer for real. we'll cure cancer over time an lay out how to do that. reporter: the president set out two goals, first to cut the cancer death rate by half over the next 25 years.

the second to improve the experience of people, family and their caregivers who are surviving cancer. now the administration approved more than $200 million in grants through the cdc for cancer prevention and control. this is an issue as you know that is very close to the president's heart because he lost his son bo biden to brain cancer in 2015. back to you, liz. charles: edward lawrence, thank you very much. we'll be watching. any breaking news we will have it it especially any companies that may be involved or the dollar price on fox business right here. the closing bell, we are five minutes away. look at this alan greenspan on the screen. four wins in a row if we close anywhere higher for the dow, s&p and nasdaq. dow up 210. s&p up 40. nasdaq up 45. russell up 21 points. right here on friday on "countdown," counterfeits gerald ceo howard lutnick, says the stock runup, four in a row,

where we've come from the big fall over the stomacher is not the start of a new bull market. he is believes it's a bear market rally but our "countdown" closer says no matter what you want to call it there is one spot you should put your money into this final quarter. joining us now, ed davis research strategist, ed kisell. where is it, ed? >> we're pretty interested in small caps right here. they were hit so much harder than if you look at the s&p 500 or the dow jones industrial average starting really in the q1 of 2021. so they have come down a lot further. they have further to rebound and, they're historically cheap versus large caps. usually you pay more for small caps because they grow their earnings faster. now actually you're getting a discount. you're paying less to own small caps. so there is quite a few compelling arguments here f you will look to add exposure, you're looking where in my

portfolio i want to tilt, look at small-cap funds. >> you're the chief u.s. strategist at ned davis. as you side where customers and clients should be committing their money and you believe the small and mid-caps look pretty good, typically don't big institutional investors focus making sure that they do better than the s&p 500. therefore in the final quarter they will commit more to the larger caps? so you're kind of a contrarian here, are you not? >> well, i think, yeah, most large institutional investors are benchmarked to the s&p 500. so how do you outperform the s&p? well maybe you pick stocks or within the s&p 500. you think are going to do better. another way to do it is reach outside the s&p 500. you're allowed to have a certain percentage of your fund's assets, not in s&p 500 stocks. so you see that from time to time you look at holdings from those big investors, they may

actually have things in small cap or international fund as as a way to try to beat the market. charles: well beating the market, that's interesting. everything seems to have looked pretty good, certainly over the last four-days but we know that does not a trend make. you can say we have moved considerably higher, still looking year-to-date, the dow is down 10%, the s&p down 13%, the nasdaq has lost 21%. where do you think we'll see this next catalyst? we know the federal reserve is going to hike rates again, most likely 75 basis points. i mean we had ross perot, jr., mark mobius just pretty much underscore that? >> yeah. and i'm not trying to discount the historical message of an aggressive fed that doesn't mean that there won't be trouble later. let's just talk about a different group of investors. these are hedge fund traders. they can go long and short and they usually make pretty big

bets on the market. they were net short. that means they had big bets against the market early in the year. on the rally they din close those bets out as a group. they're still net short right now. one of the biggest short positions in the last 20 years. so if the market starts to rally so they will cover their shorts. that means they will go long. charles: have to buy, yeah. >> that is fuel for the rally. charles: fuel for the rally for sure. we got a rally in one of the biggest cap companies if not the biggest and that would be apple. right now apple is gaining about 3 into 8%. so, you know, look at some of your favorite regions, apple doesn't fit into small and mid-cap but any other things that you can leave our viewer investors with? >> so, yeah, full disclosure, i'm the u.s. strategist so ask a surgeon what he thinks he will probably say cut. there is trouble, there are concerns in the u.s. but the concerns in the u.s. are much less than what you will see overseas.

and so you can call it the best house in a bad neighborhood, whatever it might be but we prefer the u.s. over international. charles: gotcha. ed, always a pleasure, thank you very much for joining us. well look at this folks. [closing bell rings] we're not at the highs of the session, let's put it that way but we're really climbing up there. call it four in a row. stocks go for it at the top of the show. four wins in a row for dow, s&p and nasdaq. see you tomorrow. ♪ larry: hello, folks, welcome to "kudlow," i'm larry kudlow. so much has been written in the past month or so how the republican party is blowing the midterm elections especially the senate. now one key point here, never, absolutely never believe what the mainstream media and their liberal pollsters tell you, never. second point, "the washington post," "new york times," msnbc, et cetera, crowd, is arguing that the biden democrats are going to dbe