historically your 12-month bounce from a bear market from the first year is 43%. of course that means thatch to be in the right name because it's not the same names that led us to the downside as to the upside and most important thing is because nancy pelosi and company don't want to sell here. it probably means some point the market goes higher. when they do want to sell, maybe we'll head for deals; right, liz claman? liz: the most important thing is the final hour of trade. forget congress. charles, look at all the green on the screen. folks, kick off the final hour of trade on this first day of trading in october. we have a full stampede heading down rite now and point begin of 887 for the dow jones industrials and that's good for a 3% gain. looks impressive and the blue chips fueled by chevron, the oil major gushing higher in great point tuning fork to pop in crude oil and chevron up about

5.8% and after market picture for crude oil and 4.7% and closed up in regular zip session 5.25% higher as opec+ delegates indicate that come the big meeting in vienna this wednesday, the cartel might cut production by a million barrels per day to bolster the oil market because while drivers didn't enjoy $100 a barrel oil, opec really misses it because we're at $83.29. they're a little greedy. greed is good, right? capitalists, who knows. averagesattempting to bounce off the lows right now. september lived touch its reputation as the worst month of the year for stocks. the dow s&p finished the month at worst level since november of 2020. the nasdaq, it closed at its lowest since july of 2020. now stocks of u.s. companies saw how bad september was and lost $3.7 trillion in september,

$7.3 trillion since august 16. that was the peak. this is a tradeable bottom? investors didn't think so on friday so why today? if anything should spook the horses, it's the credit worries that have been circling all weekend and part of last week. shares of the swiss bank clobbered this year down 58% bt at the open, the stock dropped to a new low despite efforts by a now h new ceo insuring that the financial health is solid and stock up 2% and it's turned around and, folks, this is a very important story that we are paying full attention to. charlie gasparino is working on the story and will get down in front of the cameras for the news he's breaking coming up. but the very names that fell anywhere during the month of september from 20 to 30%: fedex, nike, charter, adobe, throw advanced micro-devices, carnival, carmax, boeing, cesars, they're all higher today

but they have a long way to go before they recover their 2022 losses. still, they're at a discount; right, 20 to 30% down in the month of september alone. should you wait it out for a lower low or is it time to weigh in. to our floor show and joining me on our brand new set, trader scott reddler and sarge gilford. great to have you here. >> the stewed joe looks fantastic. studio looks fantastic. looks wonderful. >> i like your green dress on the green day. >> should have wore on friday and we'd all know to come in long with the oversold bounce fueled by economic numbers. liz: look at inter-day pictures here, guys, and this is a pretty major move, especially considering that if we gain more than 936 points on the dow, we'll be in top ten point gains for the dow of all time. everybody needs to stay tuned if that happens. up 874 at the moment.

but, serge, sorry, scott, age before beauty. >> wait a minute. >> the headlines that are giving us this bump are twofold here. number one, you can look at bond yields. they began dropping off pretty significant highs last friday. ten year, two year on this news when we got the september ism manufacturing index, which missed. what does this say for a tradeable day in the market? >> it's a good shot. i myself have been wading in, i'm majority cash. i've told you that and other folks that for quite some time now, but not as high cash as i was. i'm starting to tiptoe back in, beefing up my defense holdings, adding so eli lily, adding to a number of other names. i'm trying to regain a little bit of exposure because i'm looking for a confirmation of what we see today in three or four dais. if we have something by the end of the week, jobs week or early next week that's like today but

heavier in volume, that means i think and he's a better technical analyst that we have a change in trend, change in direction we can count on and we have tradeable bottom. not the bottom. we can't count on that but a tradeable bottom that could last a week or two or more. liz: get to technicals here and i don't want anybody to start getting their eyes glazed over and you'll explain clearly that the s&p and levels that are important here to watch before you say, okay, the coast is maybe clear for a bit of time. >> yes, what serge said is very relevant because you have to start with a day one. you get a day one with power and today had more power than most traders would have thought because like you said, he had a bunch of things mixing it up. yields are coming down, u.s. dollar a little weaker, you had nothing crazy overseas. s&p cash and what we're trying to see now is are we going to have a tradeable low the way we had from june to august because bear market bounces are usually one to three days and that one lasted six weeks and knocked the teeth out of shorting too early and that was a nice percentage.

today is day one and serge said you want to see some commitments and digestion for a few days and then in day three or four, maybe if we get a softer than expected jobs report, boom, we get some follow through and this way the fed doesn't have to raise as everyone thought and we got a pivot a little closer and right now, again, just a tradeable bottom for traders and as far as wading in, okay -- -- liz: where do we wade in? at what level? >> i've talked about inter-immediate accounts. you can't be perfect. like we said before, the average bear market, it's 37% from feet to trough. right now we've only been 24, 25% and don't know if we'll go down to 32, 3400 and wade in now, you have to wade in case of the tradeable bottom of the third quarter and first quarter of 2023. liz: tell me, serge, when you're looking at all of these moves in the market, you said three to

four dais; right. you need a little bit of a trend. like a kid coming on and saying i did well on one test and they fail and get a d for the next couple. you need to see a trend. we haven't been able to string a bunch of these together, have we? >> no, all year we're in a descending broadening pattern and a bullish pattern reversal. you look at the chart i showed you, i believe we might have had the second trial of what was going to probably be a double bottom reversal. we'll get that pop here that will lead to the tradeable bottom we spoke to. build a bit into it. i think you got to, i don't know, you have to wait the three or four days and you have to let it happen. >> liz: guys, we are looking at 3% gains for the dow, the s&p right now, and let's not forget the trance ports. oh my gosh. what is going on here? this is an unbelievable move for the transports that had a

horrible year so far. we have the transports up 4% and the name that's leading here, i want to bring this up for our viewers because it's a name we don't talk about often, it's kirby corp., ticker kex. this is a huge move and it's a company that basically makes engines for marine type of operations, things like towing barging and tankers. things le first day usually ise biggest day. that's like, hey, i'm here looking and how do youand p up . listen, we get the biggest bounces in bear market and about to commitment to it and a lot of misinformation came into it and close in the dead lows on friday and serge said there was a full breakdown and broke 36, 36, and now we're back above it and we again need to see digestion and participation and good to see transport and good to see tech and leadership. liz: apple, meta, all the napes cut out at the knees, surge.

anything in tech? you loved nvidia. >> i love nvidia but i've been out for some while. >> i bought nvidia today. >> just for some type of oversold bounce to measure. we'll find out where it was to down at the levels and small little descending channel here and made sense. >> i've been defense sector and healthcare for quite some time. i have some tech, a and d and marble as far as semiconductors go but down to about a quarter and it was all self-preservation. liz: a&m got hampered in september. >> a&m led us loire and that lets you get out of the way. nvidia, meta, new lows in google, microsoft last week and apple and tesla playing catchup and today was important that apple reversed first and gave us clues for buying today. >> i bought today in the green. liz: really? >> like 242ish. liz: in the green room.

gentlemen, so great to have you. thank you very much. okay, so my studio versus buckingham palace? >> i would rather be invited back here. never been there but trained with the royal marines. liz: sure did. yes, thank you for your service, serge, as always. gentlemen, good to see you in person. back to the green room so you can start buying stocks. s&p even higher if it weren't for at the scene lavilling up. we're going to -- tesla shriveling up and we'll get you that story and plus, the race to produce more evs dependent on criminal minerals sourced mainly from china. i mean, wouldn't it be easier to crack open the ground in se the corn husker state? the ceo of the company is doing just that and he's here next to tell us the big nebraska news and how it's going to go bub lick in a -- public in a fox businessics collusive. dow jones industrials powering higher by 877 points and claman "clamancountdown" is just heati,

stay with us. meaux ♪

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liz: the stock chart disaster de-jury, it is tesla and down at the moment by 6.8% and it's not even the worst level. ev leader getting punished for hitting a new delivery record for the quarter and tesla's news it delivered 343,830 cars actually missed the streets 359,162 expectation. tesla says it's facing difficulty -- the issue is really that it can't secure enough trucks to transport the cars from the end of the

assembly line to the people who want them. the cast pasty is not the only issue -- capacity is not the only issue facing them and rare earth met dallas cowboysal used to -- metal used to make the batteries are mainly sourced from china and a u.s. based mineral miner, nile corp., is angling to remove chai 2345 from the equation -- china from the equation by purchasing a speck and take over gx's nasdaq listing. with the new listing, nile corp. plans to fund the plant in nebraska to source critical minerals for electric vehicle manufacturing. joining me now is nile executive chair mark smith. >> thank you, liz. liz: tell us about this. when i say this, we have two issues here. elk corp. breaking grounds in nebraska and what minerals are in there and the merger/not a

merger of abso absorption of a . they're touchy at the moment. >> the elk creek mine. there's four lines we listen to produce. liz: what are they used for? >> nyobium is an additive in steel manufacturing and makes the steel stronger and lighter so it goes to the lightweight revolution, which is part of our evs and even lightweighting the internal combustion engines. lightweighting is what it's about. scandium, much like niobium does for steel and it makes that metal for aluminum stronger and lighter. if we take that into the aerospace or airline commercial airline manufacturing, they can go a lot further with a tank of fuel than they could with just an aluminum body. this is a huge potential

lightweighting revolution there. titanium is a well known metal. we don't need to talk about that one much and rare earths are very, very important. you know, nearly 100% of the rarest in the world today come out of china. well, that's fine except china is making a whole bunch of evs and we want to make evs and not enough rare earth coming out of china to feed all the evs that we want and does seem to be a strong momentum for the green world that everybody wants. liz: how did you find this great source underneath soybean fields in nebraska? >> soybeans and corn fields and some of the finest people you'll ever meet in the world. liz: they're okay with you digging down there? >> they love this project and every time we go down there, they're greeting us with open arms and warm and welcoming and can't think of a better place for a mine. they're fabulous people who found it because there's an anomaly in the area that was noticed with some -- they flew other with magnettive tools and

found this anomaly. drilling was done in the ca carbonitite and there's the highest niobium resource in the state. liz: this is fascinating to me and you're not a new by-here. you worked at chevron mining and ran molly corp., which is mp materials and let's talk about how you get enough money to build out elk creek. and you're doing this through kind of an interesting financial engineering effort here, are you not? >> that's correct, and it's something that we're really proud of. it's interesting because in today's spac world, it's almost a four letter world. there's so many that have not gone well. we have a different situation and we're acquiring the spac. normally the spac is looking to acquire a company -- liz: you're the target in the world. >> right. what's happening in a lot of

these spacs is that the spac in the overvalue a privately-held company and they're starting with the huge, huge price levels for stock and they really have no place to go other than down. in our situation, we have two publicly traded companies, value of our company is during the trading day, you go with the value of our company and it's every single second. we have very well-known values and putting together a deal that's a fair evaluation of the two entities and it's very simple. plus, we're both sec compliant companies where the jurisdiction of the sec and very different than most spac combinations. liz: this is a shortcut way to list on the nasdaq; correct. you flip and able to take on the spacs identity as certainly that position and space. so my question now becomes for investors looking toward what you plan to extract, forget

visitors, how about customers, who is approaching you and who wants the minerals and is the word out? >> the word is out. you've seen the reports about automobile companies, steel companies and they're going out and searching for the minerals and can't find enough of these and we're in discussions with some of the top automotive companies and top steel companies in the world because they want to put their procurement programs together so they're 10:00 o'clock 15, 20 years out -- 10, 15, 20 years scout we're happy to talk to them. liz: i imagine you are. you wouldn't sign an exclusivity deal would you? >> depends on who it is and what they want. liz: as b buffet would say, lets see the terms. >> exactly. liz: mark, come back we want to see this and when you go public early next year. thank you so much. oo>> thank you. liz: mark smith and the company is niocorp.. you heard about reality star kim kardashian uponnying up big bucr

her run in with wall street owes top cop and details on the settlement about pitching crypto on instagram and what it might mean for all paid influencers out there touting anything. that's straight ahead. and we'll show you crypto prices what they're doing, closing bell ringing in 39 minutes. we have the dow up 860 points and that's good for 3% gain, same with the russell and 3% gain there and s&p and nasdaq slightly behind barely and we're coming right back. ♪

liz: kim kardashian is going to pay $1.26 million in a fine to settle a charge from the securities and exchange commission, the wall street watch dog accused car dad indian of failing to -- kardashian of failing to disclose a payment she received for promoting ethereum crypto own her instagram account. they say the reality tv superstar failed to report that she was paid by ethereum max through a third party to publish a post about the tokens. it's not the first time kim k had a run in with the sec. last year she posted this, "argue into crypto. this is not financial advice but sharing what my friends told me about the ethereum max token".

investors sued her as well as former nba star paul pierce and boxer floyd mayweather accusing them of artificially inflating the asset and kardashian agreed not to promote any crypto assets for three years. look at cryptos now and bitcoin is below 20,000 and we have up $249 and that's a gain of 1.25% and ethereum is nadhim flat and litecoin up about 1%. the dow having its best day since june of 2020. nice move here. all 11 s&p sectors in the green at this moment and dow up about 3%. speaking with the s&p, nasdaq up 2.7%. it's a big rally day here on this first day of october and first day of the fourth quarter. we need to look at peloton. you know it's a good rally if peloton is pedaling higher after announcing a partnership with hilton hotels and the fitness company said by the end of the

year at least one peloton bike in the fitness centers of 5,400 hilton branded hotels. stock is up 6.5%. hilton's up just under 2%. hotel members will also be offered a peloton app trial to use with the company's equipment. blue a apron, not everything isp and a possible sale of blue apron stock. the float of this under the agreement and blue apron selling up to 15 million worth inform shares and via cam ised and the market believes that and the stock is down 42% and in return, the financial service company would get a 3% commission of the gross price of the shares sold. we should look at fresh pet. it's looking for a buyer. the pet food maker has hired bankers to explore potential sale of the new jersey based company and sell from activist

janna partners that took a 10% stake in the company and fresh met shares are sliding well off the 52-week high of $159.67. hit last october and now at $55.22. it's up about 10.25%. dish network viewers will be ready for their monday night football. r after the satellite broadcaster reached a tentative agreement with disney. accord ends a weekend blackout of which dish viewers lost access to several popular disney networks including espn, which carries monday night football and the two sides arguing over the agreement and allows dish to carry broadcast and cable channels. terms of the deal not disclosed and dish up 7.13% and walt disney up and below $100 a share at $97.72. more than half a million florideans without power at this

hour thanks to the devastation brought by hurricane ian. we are going to speak to the pse and g ceo about the work to restore power and he's sent a whole bunch down there to help out. this is a fox business exclusive and wait till you see what his stock is doing. closing bell, 29 minutes away and a look at dow 30. we're coming back with all green on the screen. chevron is the lead refuel loid by intel, caterpillar, honeywell, boeing and am ex-. amex. ♪

liz: we have just gotten breaking news out of puerto rico. president biden has just finished speaking in puerto rico as the island continues recovery efforts following severe damage from hurricane fiona. president biden said he's committed to rebuilding and

improving puerto rico's infrastructure to be stronger and withstand the next hurricane and he said he and his wife jill biden would be in florida on wednesday as the state attempts to recover, pick up the pieces from hurricane ian. some insurance experts estimate privately insured losses from hurricane ian could cost up to $63 billion. hurricane irma costs florida approximately $59 billion back in 2017. and of course the human toll. officials say at least 65 people in florida have been killed and rescue crews continue to search for survivors and fema says more than 4,000 people rescued by authorities. mmadison al woworth live in sarasota, florida. >> reporter: liz, some of the damage is still here and streets

like this one are flooded and not able to get in without a truck or water vehicle and rich is trying to make his way back and i tried to grab him before he went in. your daughter lives in a house down this road. the road is covered. she luckily got out but why are you going back and getting supplies? >> i have to get supplies for my daughter. she has dog medicine and things for our 2-year-old grand baby, granddaughter. >> reporter: this road flooded on friday and still like this? when do you think it'll get better? >> it is going downright now. the level has been going down so iit's dropped an inch when i was working in there for a couple hours and hopefully in the next couple days it'll recede enough to drive in there. >> reporter: thank you, rich. you hear that, liz, a couple days and see a look at streets and cars are still submerged and houses only accessible with things like kayak and this shows you why 40% of people here in north port are dealing with power outages and hard for them

to get in and fix the power lines because the roads are inaccessible. that's why we've seen people repeatedly returning for help. we were at a distocontribution center and video shows -- distribution center and people need water, power and ice. we're looking at $63 billion in damaged here in florida, liz. liz: it's very upsetting and very, very worry some. madison, thank you. there is we want to get you pieces of good news here. recovery is a long way to go, significant progress has been made at this hour in restoring power to florida homes and now we're told 5% of the state is still without electricity and utility companies from all over the country, many of which don't even serve the florida area sped down to help with recovery efforts following ian. since the storm hit, 1.8 million customers have had their electricity restored. one of the companies that rushed down to help, pse g based out of

newark, new jersey, sent 48 contractors down south. the brand new ceo got named one month ago. we're joined by him in a fox business exclusive. ralph, congratulations, and this first move you've immediate as ceo i'm sewer is much appreciated by florideans. how do you go about making a decision like this when you really serve long island and new jersey. >> well, liz, you know, we have in our industry is a mutual aid process ask seeing the devastation that hit florida and our heart goes out to everyone impacted by this and the only natural thing to do is try and help and our industry pulls together and we certainly experienced situation like this ten years ago with super storm sandy came through and other utilities came to help and yous residents here in new jersey and only makes sense to do the same

in the occasion. liz: it's corporations doing good for their shareholders but also for the rest of the country. that's what i find so amazing. sent down with a couple dozen and first order of getting on the ground and what did you need them to do first? >> well, the first thing any of our utility crews do when they come in is make sure they cleared all the trees away from the roadways and make sure that the emergency response vehicles are going through and act as they need to act and then we start going about the power restoration process and starts with the hyalines and florida power and light and all the utilities down in florida just doing an outstanding job and we coordinate from a industry standpoint and electric sector coordinating and getting together with federal officials and other utility executives and these are the resources. liz: ralph, you know, not that i want to remember this because it was a particularly painful time for everybody up here, but we're

coming up on close to ten year anniversary of hurricane super-storm sandy, and after sandy, which was just unbelievable. people couldn't extract gasoline out of the gas station tanks. we couldn't fill our gasoline generator. i said forget it, i'm never doing that again. no power south of new jersey and south of 43rd street in new york city and rock away was destroyed and i'm interested to you because you invested $4.6 billion in your electric inis it a structure after that, and if you could -- infrastructure after that, what would you say is the most important investment? >> we all shared lessons learned over time and what we've done after sandy, we learned from some of the devastation that took lace from florida in the past and that's to raise the substations and switching stations that we have up to a level that won't be flooded and you saw some of the damage here in the str streets and water hae

not receded and safely restore power, you need the water to come down and need water to strewed -- intrude and we have to focus as a industry is the last mile. that very last point coming into your individual home and reinforcing the poles and service wires coming in and utilities and those are all things we're looking at in a industry and -- liz: we're heading into winter, ralph, and i have to ask you about natural gas and nat gas down since the start of the year and invading ukraine and natural gas weaponnized and can you give people an indication of what kind of bills they're going to see? >> yeah, so in new jersey, we're expecting about a 25% increase in natural gas resident's bills this coming winter. but what we've been trying to do is really help people focus on how to use less of the product.

might not make a lot of sense, but we're really incentivizing our folks not to use much and energy savings we might have and those that can't afford the bills and whether it be federal levels or state levels. liz: i'm sure you're thrilled right now but wait till the first storm up here in new jersey and new york. everybody will be around six months of power and we wish you people and your people the very best and thank them for what they're doing down in florida. ralph is of ps e&g with shares jumping three and a quarter now. if you want to donate to hurricane ian relief efforts, visit redcross.com/foxforward or call the number on your careen.

if you have an alexa, say, alexa, make a donation to the american red cross and don't by accident say make a de-nation to charlie gasparino. all right, credit swiss. speaking of charlie, he is on this story and it is recovering at this hour after plunging at the open by more than 10% on major concerns about the swiss bank soliquidty about -- liquidity about the exit and charlie gasparino all over the story over the weekend and he's about to break late news happening now. closing bell 16 minutes away and dow holding onto 818 points of gain. we're coming right back. ♪

liz: remember when snap went public and charlie and i did snap stories? you look like you have mascara on there. >> you know me, i put on a lot of makeup. and you do realize i never put on makeup. liz: that's quite a ton. yeah, that's when snap went pub lib. >> beautiful new set. it's great.

one-over the reasons it's up and i did a ton of reporting on credit swees there was a crisis and companies with troubling investments and swiss bank and big asset management company mainly in europe and consumer bank does a lot of stuff in the middle east and they have investment bank here and that's all the trouble. it was dealt with the problem. liz: playing with the hug fund. >> the hedge fund manager that ran a family office and did all the weird trades and he took losses on it and a lot more problematic stuff at the investment bank and some reason they became the target of traders looking to short the stock bying the cds where it goes up and cds is a credit to insurance policy on your debt when it goes up and people worrying --

liz: cost of insuring going down. >> i can tell you that . four major bankers and they all met, most of them met or spoke with the ceo, corner, here's what they would say. that they don't believe that this company is the next leiman brothers. people at jp morgan and morgan stanley and goldman sachs will tell you that. liz: they don't have counter risks? >> they do and based on conversations and i'll preface the conversations and they believe that this bank is -- has got adequate capital as a whole, liquidity, which means access to capital as a whole, it's got a very good asset management department, a very good consumer bank, and they don't think this is the next leiman.

why are we having this conversation right now? i'm saying this as the market is up 700 points plus. we're having this conversation because people are scared to death what's going to happen if the fed keeps raising interest rates. i'm not saying they should raise rates, they are scared to death if the dollar continues to strengthen against european currencies. if the ten-year u.s. bond goes above 4%, that is a critical level. that's when, you know, people that are holding u.s. debt with derivatives tied to it start losing a ton of money. where did something like that just happen? that happened last week in the uk. you know, people seem to gloss over what happened in the uk. liz: we didn't. we talked about it. >> it was an amazing bout face and amazing intervention in the market to protect the guild that was going to sink plenty of pension funds in the uk. people are thinking if we get a

long bond -- a ten year in that 4+% range -- liz: we touched 4 p 4% last wee. >> what type of interest rates and trillions upon trillions of debt was issued in last three years and interest rates are super low. holding those on balance sheets and the ten year starts spiking and that means prices go down. you're writing down -- you're basically taking losses and on top of that because they're issued at such low yields, most money managers and pension fund managers started goosing it and i did riveratives and they only -- i did riveratives and only -- derivatives and only work in low interest rate environments and that's the risk and that's when people start thinking, okay, we have this type of insane situation, what

do you do? in 2008 when it was banks holding toxic mortgage net, they pick the weakest banks and they started buying cdss, selling the stocks and going short. that was stone and leiman betting right that time. every crisis is different and this is something you got to -- it's all giddy today and everybody is like i hit the bottom. liz: no, 3.66% on the 10 year and remember, 10 year is the benchmark, folks and other interest rates go higher and you pay more in interest. >> ask your next guest: will the fed pivot and what will be the catalyst if they pivot? can they get off of this thing? liz: get out of the chair so i can get him in. >> my rear end is stuck on the chair. marco, did you put something on the chair? i can't leave. liz: oh my gosh, all right. yes, the rally is still very much at play on this first day

of the fourth quarter and october, four minutes before the closing bell rings. truly a complex dominating the s&p and energy the best performing sector on the index. right now look at some of these names. you've got marathon petroleum jumping 10%. apache, devin, diamond, freeport, conoco phillips, up 7% and big moves here and we have in the after market crude oil up 4.8% and church cutting $8 to $82 a share and bullish on the maker of arm and hammer. joining me now, we have $8 billion in assets under management and senior portfolio manager kevin perone. kevin, get to charlie's question, i agree, this sin credibly important question: will the fed pivot? >> they will at some point and

the thing to look at is where the bond market is priced out over the next ten years and look at forwards prices that are derivatives about what market speculatives think over the next ten years, you've gotten very high interest rates and this is the opposite of where it was at the beginning of the year where the markets were going to go to sleep. not so much what the fed is doing but what the market is thinking and the market was caught off guard this year. which is what caused all the pain, but the market is now on top of it. if the fed were to begin seeing soften on inflation, they'll have over the next six months or so and it's likely to see pulling back from where they are. liz: can i ask you about credit card suiss, when a bank comes out and says we're fine and we're liquid and strong, we have a strong balance sheeted, even though that may be true, it's never a good, i guess, taste test when a bank has to feel

they have to come out and do something like that. do you worry at all about any kind of systemic damage about a leaf or short sellers in a company like credit suiss? >> those kind of rumors can give problems to companies that have lots of leverage and at washington crossing, we're very anti-having lots of leverage in the companies that we own. because we did have more from 2008 and saw how pernicious a rumor can be and how much damage it can do. hopefully there's question about liquidity and cash flow that will matter more and for now, i think the right play is softening in the economy is to make sure that you own companies in the portfolio that don't have more than 30% leverage in the capital structure. liz: i would imagine that's church and dwight. >> yes. church and dwight is going through difficulties like many consumer product companies are.

they have some problems with supply chains, et cetera, but this will be something that fades and this is a very good company and excellent balance sheet that will be able in our opinion to survive and generally relatively strong returns with a rise in dividends. liz: we have a rally here across the board pretty much and the trends up 3.13% and do you like anything in the tech world before we go? >> sure. so if you look at google for example, google was a stock that we added to the portfolio at the beginning of the summer. the big problem this year was that markets were too highly valued and we created $5 trillion of money and debt that was added to the system to combat covid, and that showed up first as the party and now we're suffering the hangover, which is inflation and higher interest rates. ultimately the things that got pushed ahead of where they should be intrinsically with a

lot of tech stocks, those have come down and big name like google to us makes sense. liz: google today seeing a 40% bump. kevin, great to have you and thank you for joining us on this first day of the fourth quarter, october off to a sizzling start. markets rallying on this first trading day of the month and the quarter. that's going to do it for us. the "claman countdown" will be right back here tomorrow. kudlow is next. hello, welcome to kudlow. i am larry kudlow. back from california, ronald reagan presidential library, a great treat for me because reagan was my boss over 40 years ago and i was deeply honored and humbled at the national review gala dinner where i received the book the prize for leadership and political sought. i want to thank everybod