neil: they can drag you down.

stocks are down. they are protecting big gains, 1600 points. a lot to bring us down from that. ashley webster taking a look at that, has a tug-of-war because you have a big employment report. ashley: every day we get new data which suggests one thing or another. investors remain concerned about persistent inflation and the aggressive rate hike cycle. we see an increase, weekly jobless claims and could temper the central banks into minneapolis fed president bursts the bubble quickly by saying of the central bank is

quite a ways away from being able to pause its interest rate hikes. the yield on the 10 year treasury initially moved lower before moving slightly higher and that is weighing on rate sensitive stocks including apple, amazon and intel all down at this hour. meta platforms, their stock slightly up today but down 58% year to date. mark zuckerberg has warned about cost cutting at a report the company is withdrawing a slew of internship offers, that were set to begin this coming january. meta says this difficult decision was not made lightly and as a last resort, the companywide hiring shift is to ensure they are aligned with highest priority efforts.

that stock was up slightly today, and stock price plunging with the demand for exercise bikes and treadmills. the company is cutting 500 jobs, 12% of the workforce. barry mccarthy will give the company another 6 months to turn itself around and likely not viable as a standalone company. and in the us, recently announced partnerships, and on amazon. don't hate me for this, to backpedal. >> i will buy it, that is fine but it lies elsewhere.

in usa today, the january 6th panel investigating the capitol hill attacks as agreed on the next hearing october 13th, and they focused on the hurricane last week, september 2019 hearings that was shelved not because of the hurricane, no such hearings happened and one more will. and one more hearing before the midterm elections. and crosscurrents in the economy and jobs report could go a long way to confirming recent slowdown news or accentuate it. danielle, the number is

expected and if it shows more strength, have the markets riproaring in a negative way. >> it would be the mirror image when the market went, let's celebrate. we never seen this month of job openings in american history and it went tripping up, and the strength was reviewed in the office it way but other evidence of a big slowdown in hiring, i think is going to go further to convincing people that policymakers, the economy is slowing. we had 380,000 jobs seasonally created in the month of september, down 60%, the second-biggest drop in the history of the layoffs.

neil: it might be slowing, we are not doing what i can distinctly remember, bleeding hundreds of thousands of jobs every month, the stagflation period of jimmy carter, first year of the reagan administration, we might get there but we are not there, what do you think? >> i hate this idea that good news on jobs is bad news for the stock market, people don't have jobs they can't buy products, i want to see a good job report but we are seeing, i watch fox business every day, i see more announcements of this company, that company announcing the hiring freeze, job layoffs, the economy is softening, in big trouble right now, in the ditch so i am praying we don't go into deeper

recession than we are in now when you look at what is happening any oil markets or mortgage rates it is hard to find where growth will come from in the next 6 to 9 months in the economy. neil: they are saying how we can envision, half the time they are talking to financial guys who callously love that kind of news because it can lead to better numbers for companies but they don't realistically look at industrywide layoffs, might trim a few in the case of facebook or the latest numbers but it would hardly be common. i wonder if you have that effect here. >> a lot of ceo surveys, more than 50% of ceos not by name,

planning layoffs, numbers need to be substantial, a separate report said hr managers, human resources managers are looking to -- 60% said they are looking to layoff people working remotely. seems to be the economic recovery, and as steve said it is global in nature, companies are backing down the hatches and looking for ways to cut costs. neil: steve forbes a little earlier, thinks the fed -- they are driving us into recession and happily so. what do you think? >> whom i to question steve forbes, one of the great economic mines in the country. i am not where he is.

when you have this kind of inflation you've got to do everything you can with inflation that high. we are going to keep working until we get the inflation rate down to the 3% range. is that going to hurt the economy in the short time? yes. the most important thing, the most important thing policymakers have to do right now is cut government spending by a lot. they said you've got to be talking about $1 trillion or so, we added $6 trillion of additional spending, a lot of it is sloshing around, it is over government spending. neil: no one has used that is a bumper sticker campaign. final word, there's a lot of

back and forth over this talk that the president is reaching out to venezuela to make up for the oil supply in opec companies but jackie heinrich, they talked in the past and wondering if there's anything to this now? >> they are not saying it will happen but not denying it either but are digesting this opec news. i was speaking to the president's top energy advisor who told reporters today he went to saudi arabia to try to avoid this outcome and he didn't walk away from his meeting with the crown prince, understanding they would be cutting production by 2 million barrels a day, he has no regrets about his trip to the country he once vowed to make a

pariah. >> the trip is not essentially for oil. is the middle east, israel and positions but it is a disappointment and says they are a problem. >> reporter: the white house announced plans for the new strategic oil reserves as needed to stabilize prices even though it was not on the table one day before the opec snub. air setting at a 40 year low and rather than embracing policies to ramp optimistic production the administration is repeating its claim that oil and gas companies use their existing leases and are turning to another dictator whose government the us doesn't recognize. the us looks to ease venezuelan sanctions enabling chevron to pump oil to wall street journal report saying the white house would deliver significant sanctions relief if president maduro remains talks with the opposition leader to hold free

and fair elections in 2024. president biden said there are alternatives and we, quote, haven't made up our minds yet but the national security council didn't deny the plan telling fox as we previously made clear we will review policies in response to constructive steps to restore democracy in venezuela and alleviate the suffering of the venezuelan people. there's spec elation the prisoner swap that happened over the weekend was a first step in softening relations between the two countries, us release two of maduro's drug dealer nephews who had been convicted of narcotics offenses and put in jail after trials in the us in exchange for 7 americans venezuela withholding including five oil executives. stuart: jackie heinrich, thanks. want to go to rebecca graham, research, i was thinking of this uptick in oil prices courtesy of opec and opec plus

countries that benefits vladimir putin and doesn't benefit us. that doesn't sit well with a lot of folks. >> the white house is flunking oil diplomacy. in the short term it does benefit putin because he's making an awful lot of money from the oil he is selling but long-term, the possibility of a russian oil price and that has to be part of the discussion as well. neil: a lot of people in this country are getting increasingly frustrated particularly in florida with the money we are giving ukraine saying we need that money here. the fact is we piled this on to our debt anyway so their worries may be overwrought but if american support begins to ebb and we are the only

financial gain in town, than what? >> hope that support doesn't abbott because ukraine is making good use of all the assistants that they, and they are doing what they wanted to see happen on the battlefield but let's remember, to putin as well, happy to see this oil price thing go up but in the long run russia's options are closed off whether that is dealing and opec plus or globally, seeing russia's options closed off in ukraine on the battlefield and globally as well. neil: the latest deal is on paper, they can't stick to it but having said that, there is a fear of a double standard

with opec, vladimir putin, discounting oil for some of their asian customers while hiking it for us. what i am getting at is, is this really an anti-american, anti-joe biden slap. is there more to appreciate? >> the oil markets are so complex but a couple things stand out for me. saudi and the others haven't stopped discussions and diplomacy during the ukraine war and saudi is frustrated about the iran deal and i sama them tell biden they were not prepared to do what they wanted with oil production, saudi doesn't plan to get to the full rate until 2027. not sure it is a direct slap at the us but are they frustrated with team biden, absolutely. aren't we all when it comes to

oil? neil: when we come back, remember when mcdonald's's ceo was complaining out loud about the chicago mayor angry, talking about crime being a big worry and impediment? now apparently tyson foods has gone one step further, it wents to leave chicago altogether after this. ♪ this... is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture.

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if you can't lay your hand flat on the table, talk to a hand specialist. but what if i don't want surgery? well, then you should find a hand specialist certified to offer nonsurgical treatments. what's the next step? visit findahandspecialist.com today to get started. >> wanting to talk about the crime going on and another to say we are not going to talk about it. that the case with tyson foods. >> like a lot of other companies that left chicago recently, tyson is going to a red state, the beneficiary of tyson, the company leaving chicago is arkansas.

tyson plans on moving a thousand employees from this downtown office, when in the chicago suburbs and 1/3 in south dakota. it wants all its employees under the same roof arkansas hq which it plans to expand but the meat processor is not the first major business to fly the coop from chicago, it joins caterpillar, citadel and boeing, tyson didn't mention high crime or high taxes as a reason for the move but those were factors for other businesses namely ken griffin's citadel when he decided to move to south florida earlier this year. and mcdonald's ceo, the city's crime makes it hard in that downtown headquarters, lightfoot told him he needs to get educated crime is up 37% so

far this year. pro business book, policy institute told us about tyson's move for businesses to thrive and grow, illinois needs a less regulated environment with property tax and pension reform to focus a stable economic foundation that retains and attract businesses to illinois, the latest exodus is not coincidental or unfixable but in tyson's case it is happening starting next year, moving ploys out of this office and over to arkansas. neil: thank you very much. might not be as large or significant but could be a big loss, closing up permanently in chicago. all things sweet but business not in this environment. what are your plans? >> we are tired of a high crime

in chicago, police are not happy with the mayor and we've had to reduce our hours, basically we are moving to the suburbs. neil: you didn't opt to do that, that motivated you. >> not only the crime but the politics. in cook county, citizens of cook county, can't walk down the street without looking over our shoulder, doing deliveries for them. it is cook county, everybody they are very happy, the police are very happy and citizens are well protected. neil: you were dealing with

this crime, all the elements and you let authorities know, what did they tell you? >> the mayor has nothing to say. we spoke to the mayor's office, they don't have anything to say to us, they have no excuse, this is not an unfixable problem and we don't have time to wait, life is short, the city of chicago has become gotham city without batman. neil: you have a great loyal clientele and a great product and you would think the mayor would be interested in keeping large employers like mcdonald's or tyson foods and small but very endearing employers like you but i have heard from large and small alike, that's not the case. that seems financially suicidal but what do you think of that?

>> small business net of 40% of the gdp nationally and small businesses grow to become big businesses like tyson and the lack of communication we receive from the mayor's office in the city in general tells us what is going to come ahead of time. this is been progressing since 2020, 38% crime rate in the city of chicago. neil: still no reaction. when you do get a reaction and deserve one please let us know. you don't have anything to worry about, you're quite popular, but some respect is in order. a viable enterprise, popular enterprise and one by one, one after another the government

doesn't recognize all the way to the top, that is a sure way to lose your city if not lost already. is black rock, given the questioning over its investments, black and blue rock, why it could be suffering big time after this. ♪ (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back. so you can live your life. that's life well planned.

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neil: we are in earnings season, a lot of big financial firms, black rock is among those financial firms, they expect about 29%. a lot of that might have to do

with the investment environment but may be this push on the part of many many state funds to sort of say wait a minute you are politically correct investments killing us and are not fair to us so many leading a charge to liquidate black rock investments, john schroeder is among them. thank you. we don't know efforts like yours and others having a material impact on black rock but you think they should? black rock is wandering from its stated investment mission, maybe you can explain. >> trying to force their political agendas on louisiana and the citizens of louisiana which rely on fossil fuel space, this is a small message

from louisiana that we are not going to put up with that. we are being crushed by the federal government on that policy and what it is doing for the oil and gas industry, i don't need corporate america to stick their nose where it shouldn't be. let business run business, let politicians elected by the people they represent push policies, good, bad or indifferent, that is not what is happening at black rock. neil: do they run a lot of state funds, you don't want to run them anymore, or other financial players? >> in louisiana, and 20 plus treasures, this money i started moving earlier, talking about

it, really money management, day today money but the real money black rock wants to get to his state retirement money, $70 billion. neil: if these remarks, when it first came up, we don't prioritize one investment over another but if it works it works, we state our views, climate change from the are recognize that but it doesn't interfere with good investment bets, you say that is not the case. >> i can show you dataware investments are doing well. when the number comes out next week you will see it and once we analyze it you will see the most, the number one choice, what rankles me, black rock can do all these things, large

liberal corporate companies can do what they want, but when louisiana pushes back this isn't news to me, it is something i have been fighting, we are ready blocked a blank -- bank of america from doing business with state and bonding money. i will continue to do this when a bank or major operation or investment company, that is what i do and what idea with, why should i do business with companies who want to see louisiana put out of business? i don't know why that is news but if they want to take a public policy and push that to the states, i as treasurer have the right and ability to make those decisions, or companies who want to take jobs in a critical time in this economy, more jobs away from hard-working citizens of louisiana. it is that simple.

neil: keep us posted, the state treasurer of louisiana, reach out to black rock, we want to keep you posted on what is happening right now in new york and we talk about various issues people coming back to work but comiccon is coming to new york. in new york, going to the javits center, that defines humongous. after this. ♪ (driver) conventional thinking would say verizon has the largest and fastest 5g network. but, they don't. they only cover select cities with 5g.

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neil: the economy is back, people dressing in silly outfits by the thousands to gather and are large place.

comiccon very big out west and big in the usa on the east coast side. doesn't gerri willis know it? >> reporter: we are at the jacob javits center and something like 200,000 people here, 50,000 more than last year, it is not just the crowd that is growing, listen. >> a lot of industries not traveling, promoting, and in 2022 we are seeing big tv production companies, they are engaging with fans in a way that you can. >> reporter: more than just actors who are interesting but the cosplay.

i want to introduce you to phil who is dressed as a character from deadpool. tell me why you dressed as deadpool? >> the freedom the character brings to us, he's not a hero, he loves to do what is right to some, and brings happiness to the people around him and gets to be himself, doesn't have to hype who he is. >> reporter: you brought happiness to us. i am princess leia, the braids from star trek, these are not silly people dressing up, these are very intelligent people expressing themselves. a lot of people are excited about meeting the actors, michael j fox, christopher lloyd, oscar from star trek and what is more, the whole star

trek next generation cast is celebrating the star trek picard series coming to a end. wish i could stay four days. neil: got an email from someone who says star wars, not star trek. you look terrific, thank you very much, brave woman in a brave crowd but dressing in a costume, i digress, it is a family show. luke lloyd, if you can dig me out -- >> reporter: you absolutely killed that. neil: people who go to these things. in san diego, there is something underpinning this economy, it is worrisome and all that.

they are buying. >> reporter: we are entering a crucial time. that makes or breaks a lot of companies including most retailers. a lot of problems, the massive inventory they have in many areas of the economy we have the opposite of supply-chain issues which, who could have imagined we would be saying that? when you have a combination of consumers on the edge, large inventory, you have to discount prices which means margins come down. this is beneficial for consumers. this is not good for companies in the stock market. if you want the strongest part of the retail sector, amazon

and walmart least likely to miss their numbers and are much safer than trying to pick the hot retailer of the year because i had a feeling of what was in the majority season. neil: you have seen it, many of them are decked out for christmas, a lot of them are offering the discounts, walmart, target competing with hiring more workers to get the season going. what do you make of it? >> one of the most interesting behavioral observations, the holiday shopping season used to happen after thanksgiving, late november to mid december was when everybody saved up money but over the past decade or two it seems the holiday season is

getting earlier and seems earlier this year than ever. this shopping behavior attributed to how we are as a society with credit cards. most people had to save up money to buy expensive items or put things on layaway to make payments.o save money so they spend money wherever on their credit card which means christmas, 365 days a year. the fact we are having a record number of holiday deals in october tells you how concerned we are, they are trying to cram as much sales in as possible as early as possible. neil: see if it works, depends on how many. always good seeing you. it is one thing to commit to a show or extravaganza or

comiccon, quite another when you pump down money for crews in record numbers still are even with the dicey economy, norwegian cruise lines after this. ♪ ♪ ♪

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neil: you want to take a cruise? a lot of cruise lines are making it is easy as possible by removing impediments that god invokes way. i'm not talking costs but vaccination and all that, norwegian cruise line, covid 19 testing, and back with us right now, good to see you again. apparently your business is doing fine. where do things stand in light of your announcement that others have gone this way as well to get rid of all of these requirements that kept some away from cruises entirely.

>> society has determined covid is over and it is not over, you know that, but covid today is not what it was two years ago. society has spoken and has determined we want to get back to normal. any protocol today is a hindrance to business and we are in a hurry, we are making great strides in the last move we could make to facilitate that is removing all the protocols. we saw instant increase when we looked at the requirement that you have to be vaccinated and we looked at the last of the covid protocols that said if you are not vaccinated you have to test. it is early to tell what an impact, it is not a normal week.

business is strong, we finished and investor event, just arrived yesterday, on. he, let me tell you what i said this morning. based on our bookings today, what we booked in 2023 will be a record year in pricing. i go to market strategies. neil: versus before covid as well. >> we are comparing 23 to 19, 19 was a record year for norwegian and all the cruise lines. neil: what about people who contract covid on a cruise. how do you handle that? >> those protocols are in place, the medicines in the event someone does get sick,

but 80% of the population is vaccinated. a high percentage of european guests, we are not seeing many cases of covid, the handful that we do have most are asymptomatic and what we do have, all the procedures, doctor scott gottlieb, we are confident in the event someone does come down with covid it is no big deal. neil: it doesn't shutdown a cruise as it used to in the past. there is talk new york city particularly mayor eric adams looking to go on a norwegian cruise line ship as a migrant shelter, is that true? have you talked to him? what is the deal? >> the new york city mayor's office reached out to us to gauge our interest in

chartering a vessel to the city for some time and we let them know the right price we would be interested. nothing else has come of it and i have seen a lot of speculation but the bottom line is we have chatted but there has been no commitment on either side. neil: your ships are humongous, the biggest at sea so you could house thousands of migrants. i assume that would be a migrant -- >> let's talk about what we really do for a living, cruising, we carry 3 million happy cruisers a year across 29 vessels. we delivered our brand-new norwegian, every thing you could imagine a cruise could be and we are happy to have her, 3 more vessels across our 3

brands next year and that is why we are bullish. neil: you don't have a cruise ship to spare, do you? >> it is a question of how much people are willing to play. at some price we would charter a vessel to the city and we do that. 23% of our business is charter business, not typically to governments, cities, or states but that is part of our business and the if the economics are right we will consider it. neil: we just had this storm off of florida and the caribbean, ships have to reroute, don't know how yours were affected but we have a ways to go in hurricane season. how do you work around that you q >> our hearts go out to the people of southwest florida. ian was a terrible disaster. it will take months and months

and months and billions of dollars to recover. i live in miami, we went through something similar with andrew. it is devastating and we will do everything we can to help those folks recover. we your their pain. we have a vessel that operates out of tampa in the neighborhood so quite frankly ian was not a disruptor for the cruise industry given the way she moved through the florida peninsula and up the coast. at this time of your most are in alaska or europe. no big deal from a cruise industry but our hearts go out to the folks in florida. neil: thank you. business booming, people spending. more after this. to debt in cole and, no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with no fees, low fixed rates, and borrow up to $100k. sofi. get your money right.

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black rock silver is bringing new life to a historic silver district, the second largest in the silver state of nevada with multiple recent high grade discoveries, black rock is well underway on the largest silver exploration program in america. black rock, silver. neil: all right. i leave you with the dow down 210 points. i think charles payne can fix that. to you, my friend. charles: lightweight, lightweight. got that first half hour of the show, thanks a lot neil. neil: all right bud. charles: i'm charles payne. this is "making money." breaking right now it is all about the fed. that means it is all about jobs, make's tomorrow jobs report make-or-break. we saw greater than expected jobless claims. that sparked a nice move in stocks. we have liz ann sonders what to expect from tomorrow's jobs report this as ceos almost unanimously say we are going into recession. sven hendrichs is on dec