gary gensler, he makes so many encouraging statements and other nations around the world have prohibited the practice and hedge funds, they don't yield as much power in the other countries so that also is not going to happen according to bloomburg. couple of things we rooted for to level the playing field and hasn't happened just yet, maybe one day. liz claman, over to you. >> you're looking at the fall of the market and after the bell they released a dismal warning? that was a week ago that sent the markets into a selling frenzy. fedex dropping 21% that day, worst day ever for the stock but this is strange. for the chipping giant just released first quarter earnings moments ago and scheduled to release after the bell. maybe this is some type of

unexpected release here. look at pop intraday. what's going on? fedex quarterly revenue rose 5.5% to $23.2 billion, adjusted eps came in at $3.44 per share. that's in line with last week's preannouncement. but the one week picture is still horrifying obviously but we're going to try and figure out exactly was it a fat fingered trade or release? sometimes this happens but earnings usually come out before the bell or after the bell. can we show the dow? it just turned positive after being negative for pretty much all of the session. right now the dow punched into positive territory but it's been

pretty red all session long. we have it standing at 30,190. please note that means we're 190 points away from dropping below 30,000. i did well in math on the sats. risk avers investors are shaving 17 points off after a 66 point haircut and stands at 3,772. that's down 21% year to date. that's nowhere near the beating the nasdaq has taken. right now the tech heavy index is adding another 116 points to yesterday's 137 points or one and a quarter percent hit. nasdaq lost 29% this year. after wednesday's route, you would think bargain hunters might peek their heads out but federal reserve chair jay powell pretty much ensured investors got the message that the central bank will not stop hiking interest rates until it brings back price stability, meaning

until it douses the fire of inflation. sector sensitive to borrowing rates. look at credit card issuers here. capitol one, american express, mastercard all dropping. mastercard dropping to 1 and 3% for amex and capitol one. credit card rates are variable and yesterday as the average annual rate touch add 26 year peak of 18.1% for cards, consumers may scale back their card usage. benchmark ten year yield speaks volumes from credit cards to mamortgage rates. yesterday was at 3.65%. we have it right now at 3.694, a pop of 16.5 basis points and not just the u.s. reacting around the world. very swift; right. global flurry overnight. federal banks like if powell did it, we need to do it right away. stat. overnight. switzerland and south africa raised by 75 basis points and

the uk, norway, and indonesia all tightened by half a percent and that speaks volumes, doesn't it. as investors try to gain where to put their money. we bring in two season pros for the floor show, trader john carpina and hugh johnson from hugh johnson advisers. john c,, if you couldn't undersd what jay powell was saying yesterday, you need to go back to school. how can investors be fleet of foot and what trades are you seeing that show certain areas where the smart money's going? >> liz, they were very clear. we're not used to that much transparency so that's really good to see because the market doesn't like the unknown, it doesn't like the curve balls so that's good. kind of getting an idea of what they're looking into. just a few points, you made that comment coming in about fedex and we were on the fraying desk looking at tape going by and how

did this pop out here and it's happened from time to time and it's very rare and does happen. it'll be interesting to see how that plays out and one thing on leading credit rates and how it's affecting rates going up, consumer usage or using it less. look at mortgage rates too hitting at 6.29% and highest level since 2008. what does that translate to? that means it's going to cost purchasing that much more when buying a home. their monthly payments have essentially doubled from six, nine months ago so expect pressure on there. but i think overall we continue to talk about the same things. it's the head winds and the markets. it's interest rates, inflation. all these things continue to be here and last time we were on the show, we talked about this 3600 june lows and the s&p. are we going to get there? look how quickly we're slowly kind of getting in that direction. we're not too far away from that. do i think we hit it? i don't think we hit it but we'll start seeing rebound in a

short period of time. what do you do then? look at two stocks that have been hit impacted severely this year so far. amazon, jp morgan, both down 30% respectively and when you talk about bargain hunting, if i told you back in september of last year, you can buy amazon 30% plus cheaper than it was trading, you'd go in with two hands. we'll start seeing numbers coming off the sidelines and getting back into the household names and we know they'll be up significantly in a year, two years, three years from now and we'll have to weather the storm in the next few months and get into an election cycle and overall, longer term some names i mentioned are long term plays. liz: yeah, hugh, long term plays because you've got to figure the market has a few more jump scares coming its way. the fed funds future right now and obviously they're just --

it's a done deal; right. that we're going to see at least a 50 basis point move. what do you think will be another 75 the next time we see the fed meet, which of course is november? yeah. >> liz, if you crunch the numbers base odden the forecast of the -- based on the forecast of the open market, we're taking about 75 basis points coming in november, 50 basis points coming in december, and another 25 basis points in the first quarter of 2023. that'll get the fed to where they've told us what the terminal rate is and told us clearly what that is and that'll get us to that number and that's what we have in store for the remainder of 2022 and '23 and when talking about increasing the federal funds rate or target rate for the federal funds from the federal reserve and you're talk that carries with the implications and longer term interest rates such as yield on long term treasury and they'll

go higher and if the yield on ten year treasury goes higher, then the upside for potential -f the stock market will come down. all of that's being played out in front of your eyes both yesterday and today. when you talk about seeing the-year-old it's effectively discounting and higher long-term rates or lower or less upside for the stock market and that's obviously not good news on a short term basis. what we have to do, and i say this emphatically is that we've got to get on with the economy. the hard landing and it's in a hard landing that the stock market gets signals and they'll end and a recovery will begin and that's when the market will turn. we're a ways away from that right now. you're going to see ongoing

volatility of the sort that don was talking. liz: exactly. and, jon, isn't this supposed to be the very atmosphere where banks, financials do well and i'm looking at red on my screens. everybody from big ones, bank of america, morgan stanley, key bank, u.s. city and u.s. bank corp. and the regionals aren't doing well and we'll talk with a regional ceo coming up. why isn't that a trader right now? >> it is a trader and jp morgan and it's been beat up and in the spotlight for quite some time here. you'll see that support that builds into it and from a conceptual point of view, investors aren't confident enough to get back into it and we'll see the hard landing and we'll start rebounding from this

albeit at the end of last year or beginning of next year. when that does occur, that whole sector arrives straight up with it. liz: hugh, i don't know how you feel about crypto, that's one area that's actually moving higher. we do have bitcoin popping a bit of a percentage here and not to mention, xrp so bitcoin right now is up about 5.5% and ethereum 6% and in fact charlie gasparino is coming up in a few minutes with the ceo of ripple that speaks for xrp, their native coin and brad garlinghouse next on .s dave, you following crypto? >> yeah, and i think everyone kind of does. what's a good basis upon which to buy crypto? what's the underlying and the fundamentals? answer is none. it's purely and simply speculative. i think it's everybody's been

told that they're clearly and simply speculative. there'll be people that are crypto lovers and disagree with maine stay away. it's purely speculation and you might hit it right, but you're probably going to hit it wrong. liz: all right. for long-term investors perhaps. thank you guys very much. note, we have a little bit of a firmer dow jones industrials up 50 points. benchmark rates, not the only thing that's spiking. rents and mortgage rates, we're talking about those and going parabolic since the start of the year and living large much more difficult these days and legions of renters rush to downsize, one company is using robotics. look at this on your screen, to transform tiny living spaces into multiroom functionality without adding a single square foot. how you ask? the ceo of expandable apartments is about to do a live demonstration of this next in a fox business exclusive.

closing bell is 49 minutes away. if you care about your money. you're in the right place. dow is now up 66 points and "claman countdown" returns in just a moment. ♪

hi, i'm jason and i've lost 202 pounds on golo.

so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works.

liz: talk about a drop in the ocean. a new report from realtor.com shows the average monthly u.s. rent is august dropped month over month for the first time since november of 2021 by $10. if you dig deeper, the report reveals that average rent across the nation's biggest cities rose

exponentially year over year last month. new york city popping 19%. boston saw a 22.8% climb and the windy city, chicago, had the steepest rise, 25%. red hot rent price haves pushed panic renters to downsize losing prized second bedrooms or floor space. enter ori, a robotic expandable apartment system that helps renters utilize their square feet no matter how few they have with four types of layouts with pocket cl closets, offices, and even a bed stored in your ceiling and have more space to jump around and dance to disco. not that i've ever done that. it's revolutionizing the real estate market and helping renters downsize their rent payment and maximize the square footage at the same time. i think this segment will go

viral and i've seen some of it and you're going to show us live how it works. tell us where you are and how it works. >> hi, liz. first of all, thanks for having me. i'm calling you from one of those expandable apartments that we have across the country. more than 500 of them and counting. but this is special because it's my own. it's my own bedroom. as you can see, looks like a very traditional bedroom and has a closet, big bed that takes most of the space like in every traditional bedroom but the fun part is if i get my phone here and i open it up, the press of a button, you'll see how my space completely transforms and it does it automatically so i don't have to make my bed and remove re-pillows and now the space goes from being a bedroom to an executive office. liz: we're watching the bed move. i see a couch under it. so suddenly you have a living room in this tiny apartment in

brooklyn; correct? >> exactly. i -- basically i live in a one bedroom apartment with my partner like many other couples in this city. both of us work from home. she takes the living room and i get kind of the bedroom. the problem is that if i don't get a solution like this, i would be working from my bed every day so the press of a button, it becomes a true second office. liz: this is so cool. do me a favor. if you can move to your right and just look behind you, explain what we're looking at because this looks like there's now a cabinet and a desk. >> so this is an example of a one bedroom expandable apartment and what we're doing is taking the bedroom and we're doing two things. we're taking that closet which on the other side you don't see it but has a full walk in closet like carrie bradshaw in sex in the city and then we are killing what i like to call the biggest

space killer of all, which is the bed. the bed goes into the ceiling and reveals a spacious living area in an apartment. liz: oh my goodness. there's four different opportunities, iterations here. tell me -- we'll get to the cost. i can hear our viewers saying, liz, how much does it cost? people are being forced to downsize to bring their rent down so they're going from two bedrooms to one like you did or one to a studio. these working studios, that's where the real opportunity is i would imagine. >> so that's where we started in a studio when we came out of mit in boston as a company. of course the smaller the space, the more acute the need. what we have realized as we've gone to different cities across the country, not only studios but one bedrooms and two bedrooms are becoming smaller and more expensive. what we are trying to do is affect the perception of the square footage and prove to people that they actually don't need as much space as they think

they need. we use that -- we do that by applying robotics into walls, furniture, closets and adapting the space to us instead of us having to adapt to space. liz: it's like buying air rights in your own apartment up above. tell me, how much does it cost and what kind of demand have you seen? to me these kind of high-tech opportunities can be very pricey. >> yeah, the cost of solutions to scale range in the $5,000 to $10,000 range but think of these solutions as realistic not as furniture. if you think about it as furniture, it's pricey furniture indeed. but if you think about it as real estate and the price per square foot is there. you're making a 400 square foot apartment feel like a 600 square feet apartment and look at that in that context, $5 to $10,000 is very affordable because you're comparing it with the price and cost of square

footage. liz: we finish up and i ask you the last question, i want to see the bed come down from the ceiling. imagine it's nighttime and you need to go back to sleep. my question is this seems like a win for hotels. i understand you're working with marriott to develop these for smaller hotel rooms and tell us about that and what's the runway there for other opportunities? i'm thinking tiny boutique hotels would really appreciate this. >> we're expanding into residential apartments where we're at about 500 apartments and we have thousands of them coming online, marriott is a big company and they noticed and started talking to us about the potential of bringing in same idea into hotel rooms. you can imagine how this space could be a bedroom like it is right now but could be a hotel room where you could change the functionalities at the press of a button and we're excited to work with marriott on that. liz: had to be an mit guy. what a fascinating concept. the company is called ori and

thank you. woe want to follow this so keep us posted when you get your next big deal. >> thank you so much, liz. liz: the flying bed. great, then you can do your workouts and dancing to disco. from spiking rent to the cost of eggs, which were already sky high thanks to inflation, now chicken farmers are facing a deadly new problem that's scrambling production of your favorite breakfast food and could leave your wallet henpecked. a live report on this, very important and 37 minutes before the bell rings and s&p still in the red by 17 and nasdaq lower by 112 and russell losing 36 points and that's the loss leader as far as percentages and lost point. we're coming right back. ♪

liz: breaking news, cano health. we need to look at that. what a popup. 38% right now and just resumed trading on a headline that triggered major volatility in the chain of primary care services for communities and seniors. "the wall street journal" reports that humana and other possible buyers are circling cano health. which you can see right now is having a very nice session. it's an $8.54 stock at the moment. the report cites people familiar with the situation say talks are serious and a deal to purchase could be struck in the next

several weeks assuming the negotiations don't fall apart. we profiled the ceo a few months ago and he's a cuban immigrant that maxed out his credit cards to start this company because he felt his family and his community did not get quality healthcare because it was too expensive so he created this chain of healthcare companies all throughout florida and now across the nation and it's clearly become a hot property at least according to "the wall street journal". let's get to the markets right now and, yes, it's been astringe here today and the dow is now flat. the s&p down 17 and nasdaq has struggled all day down 111 and microsoft big dow component and on the nasdaq as well. it is up about 1.5% after ceo said he is confident the company will get an approval for its

purchase of activision blizzard. it's up 2.5% and they're telling bloomburg while all go through regulatory scrutiny, he's confident this deal will get approved. there was a review over concerns the deal could lessen market competition for d c consoles and cloud gaming. the deal is valued at $69 billion. if you look at price here, it's not near $95. it's around $76.98. warren buffet said in may he bought a bunch and he's playing the spread between what it is now and could be if the deal goes through. no guarantees though. sales force higher at this hour after the software company announced higher longer term revenue targets and it's popping about 2%. the san francisco based company aiming for a 25% adjusted

operating margin for 2026. up from the 20% target it set last year. eli lily jumping higher after ubs upgraded the pharma giant from hold to buy. they believe in potential of lily's weight loss therapy as well as research for drugs to combat alzheimers. they're getting a nice 5.25% pop here. robinhood shares. they were higher and now they're down after surging premarket report that the sec would stop short of banning the practice of payment for order flow. regulators may still enact changes to make the process maybe less profitable. payment for order flow, big source of revenue of big electronic payment firms and in turn collect payments from the firms. checking the payment for order flow, stocks are stocks that at least deal with that ali

financial and it's a credit card supplier and up 8%. robinhood down 8%. consumer inflation. might have cool aed a tiny bit last month but grocery prices haven't crack add bit. u.s. department of agriculture releasing price outlook for august and food prices rose 13.5% year over year and that's the largest jump since 1979. but it's the cost of eggs. eggs led the report with a 30% jump annually and take it live to madison alworth at the egg farm in howell, new jersey, because there's another problem driving egg prices higher. >> liz, that's correct. labor increased and materials increased but the big thing driving eggs so much higher than any other food item is the avian

influenza. this virus has been spreading across the killing millions of egg laying hens. what this means is the hens and their eggs that are left, they are jumping up in price. to give you context for that price, a dozen grade a large eggs costing you around $3.11 today. last august, they cost you $1.70. here at the egg farm, they turned around 12.6 million egg as week. they cannot keep up with the increase demand. new potential customers are returning to them because when their supplier is hit with avian influenza, it can take more than six months for them to get back to the egg laying business. >> avian flu is the major component right now and you get a loss of production, that's huge. that's how long. once you get it, you're completely shut down and you have to clean up the whole farm

completely and take all the birds out, destroy the eggs and destroy the feed. you're out of business. >> 40 states have seen a case of avian influenza and cal main accounts for about a quarter of u.s. egg production closed near the record high yesterday and no end in sight for the virus and producers like those here and they tell me they expect nearly a price of eggs to remain high through the end of the year and another thing, liz, we are back to school. that increases the need for eggs and bacon season with christmas and thanksgiving. that's around the corner. through the end of the year, they're expecting prices to stay elevated and we've already seen food is really high with inflation. eggsin particular, which is a basic for breakfast and recipes that remain extremely elevated. liz. liz: pumpkin pie too, isn't it? >> we need those prices to come

down. sneak madison, thank you very much. liz: the nation's biggest bankers grilled yesterday and back on capitol hill today this time before the senate and picked their brains about how prepared the banks and their customers are for maybe another economic downturn. what about the little guys, the ceo ophryondot community bank and what they're doing to her bank and small business customers who are often in the coal mine for the entire u.s. economy and it's a fox business exclusive you don't want to miss. entrepreneur ditched his big job in the world of finance to chase his dream of sustainable cleaning and beauty products and go 176 noes from potential novice torrs so how -- investors and how did he land a billionaire like richard branson

that helped him take the company public into all stores across the nation? hear how he battled the nay sayers in my brand new edition of everyone talks to liz podcast. download it now. you're going to commute home and be stuck in traffic and you've got to hear it. very, very inspirational. apple, google, spotify, every are you get your podcast. closing bell 24 minutes away. dow up about 42 points and it has been a rocky road for the markets today. considering we had such a hammering yesterday. can we punch into positive territory? we're coming right back.

liz: other breaking news now. pet food company fresh pet halted at this moment after "the wall street journal" reported activist investor janna partners took a 10% stake in the company. the report says that janna plans

to push fresh pet to make changes in order to boost its stock price and explore a sale. fresh pet specializizes in refrigerated high end and trying to attract larger competitors in the sector. like cano health. day two of wall street bankers getting raked over the coals on capitol hill before the senate bank. the ceo of nation's seven largest banks including jp morgan chase, citi bank of america answered questions on inflation, risk of recession, whether zelle is secure and impact of regulation on small businesses, listen. >> i don't to want hear complaints about big companies but i urge everyone to take ten small businesses and ask them what it's like to live through federal state and local regulations even if there's one store. that one could help a lot. liz: one community banker does

exactly that. takes her clients out to lunch. she does it on a daily basis. the bank is located in up state new york and the mutual savings bank says its main stakes of income is lending that was funded by deposits. how is this affecting her and her clients? joining me in a fox business exclusives, ceo cheryl bowers. great to see you again, cheryl. on the pulse of small businesses and you're seeing as interest rates go higher and the threat of regulation ramps up. >> it's hitting the same business rates and ppp and guardian and the pandemic is the very same businesses that struggle to survive, struggle to drive. they made it through and now they're seeing that their license of credit to fund pinata

payroll is skyrocketing and your last segment and the restaurants especially. they're just absolutely getting hammered with food costs. the same businesses that survived and thrived through the pandemic, through all of the downturn are the same ones that are feeling the pain today. the gdp and businesses represent this nation with floating. cheryl, this is something that's very sensitive to what the federal reserve does. overnight you had jp morgan, citi, a whole bunch of other banks raising their prime rate and that makes credit card rates higher. it certainly brings up emergency rates, things like -- mortgage rates and things like that. yours is 6.5% to 7%. how does that in turn affect requesting customers? >> well, as t "the wall street

journal" prime goes out, we put our small spread over the 6.5 and 7. they're lines of credit. commercial lines of credit and that's their cash flow engine and that goes up with the rate change and we try to keep the rates down and our margins are stressed to the max. our funding costs are up also. liz: how much of -- i use the term canary in a coal mine, do you feel small banks like yours are for the next size regionals and then eventually the big bankers if your customers stop and they begin to fail, doesn't that speak volumes of what else is coming down the line? >> of course it does. we are the community. the community businesses, the

community bank. we're the mainstay and whatever happens on main street is certainly happening on wall street or in a much more bigger title wave. i use the expression yesterday i feel like there's a tsunami coming and i only see the shadow. we're being very, very cautious here not just for the banks but mainstay, not just for the banks longevity and our customers as well because they're very delicate and margins are absolutely narrow. very, very narrow. very important to hear your perspective and that of your customer. cheryl, great to see you and thank you so much for opening a window into all that's happening on your end. >> thank you so much for having me. great to talk about things with you. liz: yeah, it's important to hear. thank you so much. by the way, guys, impact of high interest rates on main street, exactly what we flagged everybody about this morning on my tiktok channel. join the growing claman army of

more than 241,000 people who get their morning business headlines delivered straight to their smart phones. i know. some of you hate tiktok. i'm telling you. follow me at redfoxliz. i roll out of bed with no makeup or hair done. we're coming right back. the dow jones industrials up 86 points now. pretty interesting. see if the s&p can catch up. ♪

♪. liz: the crypto xrp has been going parabolic oaf the last day or so. look at it now, up 24% to 48 cents as there are some developments in the legal battle between ripple and the securities & exchange commission. here to discuss all the latest developments, ripple ceo brad garlinghouse and our own charlie gasparino. >> good to see you. before your continuing saga with the sec jamie dimon called crypto decentralized ponzi scheme. what -- >> i read that. notable people like jamie dimon called it a fraud. warren buffett had negative

comments. we reached a point we know this industry will not bo away. it is here to stay. you're talking about a trillion dollars of value. ultimately the things we talked about before what utility what problem are you solving. for him to call it a ponzi scheme, 50 million people here in the united states have direct exposure to crypto who might disagree with him. liz: let's get to xrp, the twitterverse is going nuts over your appearance right now on fox business with charlie and xrp, the native coin to the ripple. tell me exactly why you think this jump in price is happening? what news can you give us? >> it's hard to know. i have watched crypto now, been in the business at ripple for seven 1/2 years. i've been in crypto for nine years. it is really hard to know, what i would point is a couple things, before the sec -- got involved. >> with you.

>> xrp was ahead of heath. this infamous speech -- >> bill mintter of corning finance. >> increasingly as the summary judgment filings were made public people realized maybe the sec is really overreaching, they really aren't following a faithful allegiance to the law. that is quote from the judge in this case. so i think people are realizing -- >> judge said it might be, they might not be. >> the judge said, one sec is being hypocritical. two they said they were not following a faithful allegiance to the law in pursuit of an outcome. that what we have here. i think the sec lost its way. i said on stage, that it is cuckoo for coco puffs. >> i was going to ask you that. >> remember the sec gets its power from statutes passed by congress. congress gives the sec power. the sec cannot take power. what the power says from the 1933 securities act you have to have an investment contract. so as you will see in our motion

for summary judgment the first step determining could xrp be a security you have to have an investment contract. our point ripple doesn't have a contract. with whom is the contract? it is not written contract, oral contract, or implicit contract. >> where are we in the case? >> motions for summary judgment were just filed last week. they were made public on saturday which i will mention very briefly, we agreed with the judge and sec to release those on monday. they jumped gun. this kind of disrespect to the court process weave seen time and time again. >> right. >> the judge ruled in this case five different times the notes associated associated with that infamous you're talking about turned over to ripple. we still don't have them. >> you still don't have them. >> we still don't have them. >> she will make as case whether it goes to trial or rule from the bench? >> we expect there won't be a trial. trial and juries are uncertainty about facts. the facts are not in dispute. the law is in dispute.

>> you think -- >> we think she has information to make a ruling. it is very clear that the sec is grossly overreaching their authority. >> before we go what your relationship with this gentleman ryan, what is his name? >> smelas. >> he calls me garlic house. he runs -- >> he runs? >> runs mesari a information service. >> this is you dunking him. >> i cheated. the dung tank dung tank is hard. liz will laugh at me. >> it worked. >> you guys have a love-hate thing going? more hate? >> people's persona on twitter can be quite different than per zones that in person. he run a great conference how to bring crypto into the future. >> he is kind of a jerk on twitter? >> that would be an understatement. >> really.

>> you can read -- >> what did he call you? >> save space. liz: charlie knows projectors on twitter. >> by the way i get trolled on twitter a lot. there was one guy i don't want to say his name. we went back and forth on twitter. now we're close. >> maybe pryian and i have a bromance budding. >> dinner, maybe? liz: united nations are on the phone. they want you to solve the middle east crisis. >> thank you very much i'm there. liz: brad, keep us posted on the case. brad garlinghouse of ripple. three minutes away. quick update on the report we brought you a few minutes ago, cano health is a target. bloomberg reports cvs is also among the suitors. so there is some action here. cano popping 31% right now on that news. humana, cvs are also to the upside. let's bring in sean, i call him

sean pacer. sean o'hara, he is the name and face of pacer etfs. he manages $16 billion and, sean, after these long anticipated interest rate hikes, what's the trade? what etf should you be telling your investors you like the best? >> well you know that is kind of an easy question for me to ask as an etf issuer. our best performing series are our cash cow series. large cap version is ticker zowc. we use free cashing flow and yield to screen broad indexes. the beauty of free cash flow and free cash flow yield in a rising inflationary environment and inflation environment you're getting higher return on investment dollars. what do i pay in total to buy the stock and how much cash do i get every year? those rates in rising rate environment are better able to absorb rising interest rates. they can pay dividends and buy

back their stocks. i've been saying all year long, it's a valid staple, time to look at lowering the overall p-e on your portfolio even though it has come down a bit before the market does it. because the market always reacts negatively. liz: sean, it is dead money over the past year. down 2%, 52 weeks. it has lost 10% year-to-date. if it is such a great idea why aren't we seeing it move higher? >> the recent downturn, most recent downturn turned us negative. through june we were positive. the etf was up 44% last year, when the market was up 27%. when you have the bear market cycles, market down 20% year-to-date. being down 6 or 7 on a relative basis not a bad idea. when things recover these names will be better position to recover off the bottom. liz: you like cheniere and.

we are running out of time. natural gas is plummeting on the market as united kingdom lifts the ban on natural gas practicing the fact they need natural gas. sean, please come back. [closing bell rings] sean o'hara, pacer funds. the dow could not hold on to the 60, 80 points of gains. another 106 points. red on the screen. we'll being here tomorrow. "kudlow" is next ♪ larry: hello, folks, welcome to "kudlow," i'm larry kudlow. i want to spend a few moments about some of the far left progressives inhabit the congress, most regettable for the country constitute a long tail wagging the democratic party dog, no disrespect to dogs. this rashida tlaib person, member of house financials services committee who onc