doesn't in additional necessariy work and you've got to be patient and thinking on it loading on calls and or puts is not the way to do it. also the pessimism. yes, that's natural and smart and individual investor torrs have been -- investors want to be smart and it'll be a opportunity to make a lot of money. stay focused; right, liz? liz: head on the swivel. okay, that's a bastille reference. head on a spike. charles, while you were talking, i just saw we hit a session low with a loss of 405 for the dow. yeah. fox market alert, stocks are ducking and dodging a triple threat as we kick off the final hour of trade on this thursday. right now take a look, the dow is off that low but still down about 375 points. the s&p lower by 78 and nasdaq losing about # 0 points or half a percent in the russell 2,000 down 11. reminder, all four indebses are

still up about 5% or high of 4% over the week and what's triggered the thursday jitters? what's happened in the last few hours? in response to kim jong-un firing two missiles overnight, in response to north korea firing two ballistic missiles overnight and five warships from u.s., japan and south korea held a ballistic missile exercise in the sea of japan to send a message. then we've got comments from three federal reserve presidents that have investors chewing nails and all three making comments about why the central bank is far from the rate hike cycle. let me back into it by showing you the fed funds futures. the very latest numbers show an increase in the probability the fed will tighten rates another 75 basis points at its next

meeting. yesterday the odd stood at 66%, look at them now. they've jumped to 75%. pushed by, yes, the triple threat of fed heads. lisa cook, who this afternoon in her first speech as a member of the feds board of governors came out swinging. saying that the fed will "keep at it"meaning continued rate hikes till the job is done. fed chair evan said the momentum in core inflation, meaning rising prices when you take out food and that has most of us nervous and the fed has further to go on rate hikes. right. and earlier today, minneapolis fed president neel kashkari firmly stating "we're seeing almost no evidence that inflation has peaked so don't expect a pause". with all the over hang, stocks in the green only with chevron and caterpillar because of strong oil prices and the

laggards: ibm and 3m, minnesota mining and manufacturing. they're the biggest drags on the blue chips. treasury yields rise, financial stocks are falling. higher rates usually mean a buy signal for financials as that means these banks can charge more for their loans but not today. maybe this has something to do with it. neel kashkari also said "the big banks need to raise more capital. with market psychology and flashing signal signals, right e trade show. teddy, there's multiple narratives here on the sidelines but the fed has been clear and we're in for more rate tightening and are they working now? >> i think .s i think the sidelines are the place to be for going back for months and we've been talking about it. i mean, the fed has been quite clear in what they intend to do. the fact we don't want to listen or misinterpret what they're saying, we proceed at our own risk.

i mean, the adage is don't fight the fed. dictating and telling us where interest rates are going and the market is reacting accordingly. it's a very, very difficult period. on the other hand, liz, there's other items out there. the fed clearly is the 800-pound gorilla in the room. but there's also what's going on with energy, there's the midterm elections and soon third quarter earnings and three other factors in the is short term that could have a big inflation in the market and depending on how they play out. liz: yeah, but if you look right now at energy, scott, that has been a very strong play the past 48 hours. obviously opec+ saying they were going to cut production by 2 million barrels per day. you can see that the energy stocks led by as we said chevron and xxon mobile and moving higher and west texas intermediate jumping saying we're seeing another move and

it's an $88.61 a barrel in the after market under 1%. heating oil is spiking in just a crazy way. i'm wondering where you see this as it pertains to the nervousness, the volatility, the fear that's going in there right now. there's a figure if you will because typically, liz, when we get to a point of a market bottom or a capitulation, which a lot of people have been talking to, there was a reference of seeing vix around a 40 hand and will with the vix, people have to remember the rule of 14 and if the vix is trading 16, s&p trading about 1% range a day. the vix here trading 30 to 32 range, that's 2% a day. if we get to that 40ish area, which we have not gotten yet, which that has been the sign typically historically that, okay, we've reach that had

capitulation point, that's about 2.5% move a day. it's really interesting to me that with all of the head winds to the marketplace between what teddy was talking about and geopolitical events and interest rates is that the vix is not higher and i'll tell you one last thing, liz. i was over in the vix pit just a couple minutes ago and the brokers were telling me that though there's a lot of activity and a lot of option trading in there today, consti institutiond retail are sellers of premium in vix upside call options. liz: right now vix up 7% and headlines hitting about twitter and elon musk and i'm going to go with this, guys. we're looking at twitter at the moment down about 1.5%. here are the headlines. elon musk is saying that twitter litigation could resume if the parties do not reach a deal. he's also saying he's willing to close the deal at $54.20 by

october 28th and he's also saying twitter "will not take yes as anti-seek stories". and insists on proceeding with litigation and said it in a court filing so this is a story that has not ended. when you look at a game like this, it can be very, very difficult to guess where a stock is going to go. >> we're talking about twitter or tesla? liz: twitter. >> okay. it ain't over till it's over, liz. this is a big game with real money. i'm not quite sure what he's trying to do here. on the one hand he says he's willing to close a deal and on the other hand he wants to take them back to court. i'm not quite sure what it is clearly there's a negotiation going on but at the end of the day, whatever the price is, there

will be a deal. it'll go a little lower but the deal will happen. liz: the deal will happen and it's looking at puts and calls and this type of name, taxpayers dangerous game to play for investors, is it not? >> well, it absolutely is and typically when you see a deal come to completion, the option volatility or option premium just collapses with a higher certainty of the deal coming through. that hasn't happened. even on the big move up the other day when the announcement was there and okay, there's agreement. that's because in my estimation the debt financing is different three, four months ago due to interest rates and that's putting a very big black shadow over the deal here whether it gets done and that's why you're seeing option volatility still pretty expensive in there. liz: yeah, option volatility gives you an indication of what the taste and the sort of wind

check is for these kinds of names. twitter right now down 1.5% standing at $50.58 below the $54.20. that elon says he will buy it at but the shenanigans continue on this one. scott, teddy, great to have you both. charlie gasparino is working the story and will have more on the twitter/musk developments later in the show. we should tell you that the federal reserve isn't the only one nervous about inflation. pushing the "claman countdown" cart down the produce aisle and ceo of a produce chain is here next on how much longer he can hold out before passing on truly higher prices of lettuce, tomatoes, beef and bread to his customers while other food giants are already doing it. stu leonard jr. next on fox business next. closing bell, we're about 51 minutes away and "claman countdown" is down about 390 points after spending much of the session just under 200 points in the dow.

this is a fluid market, stay with us the entire hour, we're coming right back.

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the weight is gone and it's never coming back. with golo, i've not only kept off the weight but i'm happier, i'm healthier, and i have a new lease on life. golo is the only thing that will let you lose weight and keep it off. who loses 138 pounds in nine months? i did! golo's a lifestyle change and you make the change and it stays off. (soft music) liz: now, this is how upside down the markets are. conagra brands is lower by more than 4% after the company beat on both the top and bottom line in its latest earnings report. the maker of dunkin hines, slim jims, ready whip, driven inflation and supply chain productivity issue here and translation they're passing on higher costs to customers but they did say that they saw a 10% move in their numbers, which is

very strong. the ceo expects albeit small but positive changes in the quarter. >> inflation is affecting the conglomerate today in more ways than one and consumer world, this is a noncommercial resource guide and following friends for skimp inflation when companies reformulate products with cheaper ingredients skimping on the more expensive stuff. it noted that conagra recently changed the formula for smart balance spread reducing vegetable oil by 40% and conagra said the change was made to the margin spread to make it literally spread easier but after complaints, it will return to the previous recipe in the coming months. but more companies posing skimpflation. this is left and right. how much longer before all grocery chains are forced to

hike prices. stu leonard jr. is the ceo of grocery chains. you guys have been shoulding a lot of sky rocking food prices and conagra is passing it on, highest costs to customers. how much longer can you hold out? >> well, you know, liz, we're not -- obviously we've had to raise some prices but a lot of it is we do a lot of fresh here at the store, we make stuff fresh, mozzarella ball and butchers in the store and we have to pass some of that cost on and we tried to hold our earnings to what they were last year and we are holding but what we're doing and you mentioned

conagra earlier, we don't have quarterly earnings that our family has to meet or beat. we're looking at it long term. we're trying to hold our prices as tight as we can right now for our customers, and it's showing up in our customer count. we've seen a robust increase in customer count over the last month right now. liz: to americas that says that the customer is getting very savvy and smart and on the hunt; right, for cheaper prices. i mean, you're looking at conagra here and in essence they're saying their sales rose 10% on higher prices and all of these brands i'm sure, you know, people have these as staples but what about this skimpflation here. edible oil like vegetable oil and smart balance and they're skimping and reformulating and

you have a cultish following. >> i'm so against that. i've gone out to a couple restaurants and they've done that to me. they've changed the choice of beef and it's chewier and cut down on portions. i'm so against that and we'll get through this inflationary time right now. we're already seeing some of the markets ease like meat and fish right now. lobster prices are half of what they were last year. in the supply chain getting worked up and things i feel pretty confident right now that we're passing the top of what we've been through liz: the fed's not, stew. i know his shot froze but he can probably hear me. there you are. the fed is not convinced. in fact, charles evans just said in about the last hour and a half that he feels that the core

inflation is really -- still has momentum and that's making him nervous. we get one week from today and where is september in lower or higher than august cpi at 8.3%? >> well, first of all, i don't pay a lot of attention to those percentages because it's not like you're shopping here in the store. i'd say what we're noticing is customers are shopping smarter and customer count up from the average sale with the number of items in their basket is down. there's a couple ways you can save money and noticed our customers are looking for special items.

it was an article in wall street journal and a lot of things with a lot of market chains across the country are cutting back with sales every week. we haven't do that at stews and we're noticing like we put lobster -- we have 4-ounce lobster tail and last year it was $8.99 and this year we're doing $5- $5.9 #. 5.99. we're telling 10,000 when they're on sale. the second thing customers are doing is we have all these app deals right now and most stores have those. we're noticing people are at a timing towards them. we have a lot of companies that want to come in and market and build and promote their products so we'll do a discount on the app if they use their app. you see that quite a bit. liz: sure. >> so that's helping people save money. they're gravitating to that . customers are smart, you know. the other thing is buy local.

we had a great crop of new england fresh produce and yams and spaghetti swash, butternut squash and the drought in new england has a great crop of pumpkins. liz: perfect timing. >> buy local because the transportation cost is less to get it here to the store. we have a couple hundred local family vendors that supplies to us right now. and the other thing people are doing, we're noticing them switching to private label. we had, i'm not going to mention a name but it was a top new york cold cut company here. they kept raising their price, raising their price. we quit them. you know, and we went to our owy company that does our deli meats now, and we're able to save the customer $3 a pound. liz: well, yeah.

that's what it is. it's the way to go. >> switch to private label and you see a new product coming on sale, buy it. customers are smart. they'll navigate through these cpi numbers and everything like that. liz: stew, best news i got from you is that lobster is coming down but we'll be waiting for everything else to come down too. it's wonderful to have you and -- >> i'll get you a lobster roll. liz: your perspective; right? he's working with the customer. thank you, stew. it's good to see you. >> hey, you know what, lizy, i'm buying inventory for the holidays like a stock. i'm investing in the economy right now, and i'm going to have full shelves for the holidays and my fingers are crossed, but i think it's going to be a good holiday right now. liz: let us hope. let us hope. stew, thank you very much. >> you got it. liz: stew leonard, call this fantasy island and manhattan

giving way to a cast of characters not seen since well before the pandemic. new york comicon is back. we're about to take you to the center where thousands of obsessed fans have descended to see their favorite super hero live and up close. we have stocks that could become superheros. closing bell, 38 minutes away. the dow up 318 and s&p lower by 32 and nasdaq dropping 55 and russell ten points and coming reich back and taking you to comicon.

liz: we are just getting breaking news on amc. amc has just struck its first ever agreement to run a netflix produced movie on its screens. from november 23 through the 29, amc movie goers will be able to watch glass onion, a myself out mystery, that's the squall to the hilarious -- sequel to that hilarious movie myself out and the odious group locations in uk, ireland, italy, germany and spain. there's amc lower by about 1% and netflix up about 1.6%. and staying with the movie theme, thousands and thousands of costume fans are flooding new york city # for a four day long comicon seven event and this is. these steal my heart. kansakarate kid legend and cobri

ralph machio and he'll be at the convention and showing off some famous moves we hope. down the road to jerry willis with more of the return of the colt favorite event. jerry. >> liz, welcome to comicon for some 200,000 people will be gathering over the next four days and more than last year and the crowd has more than just the audience is growing and they're promoting in 2022. it'll be a big tv production and they're coming out to engage with the fans in a way you'll make him in new york comicon. >> folks get together for the cos play. these folks all dressed and you happen fantastic stuff. we've got to love this; right?

it's more than that. they'll be meeting actors, some of their favorite actors, michael j. fox, christopher loy and next gen star trek and entire group of actors right here and a lot of people very excited about that. liz. may the force be with you. back to you. liz: oh my, the hair, darling. that is just fabulous. little princess leia action. fox business alert, take a quick look at markets here and we're keeping an eye closely on this. we've had a bunch of fed heads out saying we're still going full force toward rate hikes and it does appear we're going to have another 75 basis point hike if it were today but the meeting is of course in november. take a look at the dow, we're down about 270 off the lows of the session. two points above 30,000 and s&p lower by 26 and nasdaq down 42. et cetera look at c scaler scaling its way to near the top

of the nasdaq and evercore initiated an outperform and set a price target of $235 a share for the cloud security company, we're at $183 and change right now. san jose based company updated its first quarter earnings for 2023, and that beat analyst estimates. goldman sachs bullish readings pushing two companies higher at this hour. the first is pinterest. goldman updated pinterest and interactive neutral to a buy and raised pinterest's price target from $31 from $24 and take 2's price target to 165 from 131 and we're at 121 right now. peloton, always a work in progress. ceo berry mccarthy says he's giving the unprofitable company another six months to significantly turn itself around and if that fails, he believes peloton likely is not viable as a stand alone company.

as part of his effort, mccarthy announced the fitness company will lay off another round of workers and this is the fourth round here and this is the final step of his structure and as mccarthy tries to hit it. the high was 162 on monday in december 24, 2020 and everybody needed one of these. we were all locked down. i still need mine. i will say that. new smart phones and watches helping push google parent company alphabet higher by about a quarter of a percent and google launching pixel 7 and pixel 7 pro and also debuting first smart watch and the silicon valley giant requested more than 8 million units for its pixel 7.

the pixel 7 phone costing $799 and the pro will be $899. smart phone competitor apple, we've got to take a look at that it had been levied in france over anticompetitive agreements with two of the favored distributers and apple stands at $45.91. a visit from the big guy, president joe biden touring ibm in new york as it ponies up big bucks to develop semiconductors in the state. the former president of micron mark adams is here to react in a fox business exclusive and the three word phrase that drove one man's healthy lifestyle and fitness business is literally tattooed on his foreman, no wonder by repeating this to himself over and over again. it overcame to be hospitalized

as a teenager for an eating disorder. find out the magical phrase that drove his entrepreneurial spirit in both work and life. the next amazing stories and we're trying to build a legend. apple, google, spotify or anywhere you get your podcasts. we're down by 304 points and charlie gasparino has news on twitter and elon musk and it is new news.

liz: folks breaking news. the white house said president biden landing in marine one in new jersey will take executive

action to end the u.s. approach to marijuana. the president pardoning all prior federal offenses for simple marijuana possession and directing the attorney general to issue certificates of pardon to eligible individuals and the president asking the governor to dot same and viewing how marijuana is scheduled under federal law. canopy growth up 21% and cannabis growth or weed up 34.25% and all other atfs involved in this up 16% and adviser shares, sos up 34% and then of course yolo, love these tickers up 23% and big day for pot stocks and pot etfs and breaking news, president biden as we said touching down moments ago in wall township new jersey after visiting ibm in new york

and it'll bring manufacturing to the empire state and semiconductor chips to ai, cart official intelligence, quantum intelligence and micron announcement on tuesday and micron bringing computer chip production to new york as well with $100 billion investment over the next 20 years. joining us now in a fox business exclusive former myocrohn president and ceo of holdings mark adams. mark, it seems like almost everyone -- i don't want to say another u.s. chip company saying we're investing in the states here. what do you make of that? >> well, as you think about where semiconductors are, they're everywhere in our life. and refrigerators and they're getting more control over

semiconductor production for company used here 234 the states states. >> liz: it takes a huge chunk of china's role in all this out of the equation. >> that's for sure and i think, you know, we want to make sure we have equal access over the coming years and decades of semiconductors for our every day life and defense and government. liz: talk about smart government holdings and more than what we keep hearing. >> it's a demand generated better meaning if you look at memory pricing for example, you've seen that over the past few quarters that memory pricing has come down a bit, but it's starting to show some signs of resilience and old adage, liz, that semiconductors lead into recession and out of recession so when you think about the science we're starting to see, it's certainly choppy

macroeconomic head winds and we'll see that turn here in the future. liz: it's building up inventory and i say that because you said at the point where people think oh, these stocks are not going to be as hot as they were, it's true. semiconductors are not going anywhere except everywhere. they're going everywhere in what we use on a daily basis and we'll return to iceboxes versus refrigerators and how important is it to be looking at companies like yours, like the microns of the world to say, this is where the world is going to be. >> yeah, i think the answer really is we're all taking prudent action to answer well and navigating this well and investing for tomorrow and close in acquisition and hearing in

early late august and we'll continue to invest and semiconductors and can't do 90 day increments and a 20 year rise in order to win and we're coming off a great year and we got to continue to invest while being mindful of the short term. liz: companies like taiwan semi-coming to arizona or apple building a chip plant in austin, texas, tell me what goes through your mind there and is that a opportunity where you get to be part of at least some of that supply chain. >> yeah, as a company who's got great manufacturing and infrastructure here in california and arizona and the likes, we have the ability to add value to their ch chips and deliver subsystems and modules to many different markets so we can put it in today. today. liz: mark, when you look at the future and near future, where do you see chips going? there's a lot of companies that say silicon w be yesteryear and

other elements to make electronics run. >> i think in short term, there's just so much demand and that we'll continue to see it broadly across all different semi-vectors. liz: there's a breaking headline here that i want to read to you. it says the united states will have new measures that will effectively halt exports of u.s. equipment to chinese firms making advanced ram and d ram memory chips and. more. >> on the memory side, we're in malaysia and here in the states and operations in brazil and

they could come for a new investment that china made in d ram and net. liz: got ya. it's great to have you. >> thank you. thank you. liz: by the way, you guys, i had mark on my everyone talks to liz podcast. you've got to hear his back story. it's amazing. smart global holdings is the company. all right, elon musk says twitter will not take yes for anti-seek stories. is this more game planning? what -- playing? what will it take to get elon and twitter to get together as he tries to avert litigation. charlie gasparino is rushing down to the set to break that story next. closing bell, we're 14 minutes away and dow is struggling here down one full percent below 30,000 and down 313 point asks we're coming right back. don't move. ♪

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municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217.

we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. ♪ liz: twitter shares now down 2 1/2% at this hour, following fresh headlines, breaking minutes ago. musk's lawyers say twitter won't accept a renewed 44 billion-dollar bid for the company. they are asking the delaware court to halt the upcoming trial. charlie, let's bring you in

here. who is they? i'm sorry, who wants to halt the trial? elon's people. >> of course he doeslet's be clear. he is back at this. the other reason why he is back at this, he is always wanted to buy the company but when the market started to implode, when his currency for the deal started to implode which is tesla's stock, he basically tried to you know, figure out a way to get something done where they renegotiate a better price. they did not take the bait as you know. we're back at this back and forth. my guess, not my best, i've been asking corporate law experts including john coffey at columbia university, he talked down the deal so badly, he said twitter was such a piece of garbage and it may be -- liz: to try to back out of the deal. >> to try to back out, now he is trying to convince investors and banks in a much different lending and investing

environment to put money in something he called a piece of you know what. think about that. on top of that, you have a much different lending environment. it is very difficult for banks right now, not just to lend money, but to sell to book the loans. that is what banks do generally. try to get loans off the books, try to syndicate it to bunch of people, sell to third parties, that is exceedingly difficult right now. if you put all of this stuff together, he might not have the investors. andreessen, marc andreessen, the vc. liz: right. >> was in it for some equity. he is out. ellison was in. they were not necessarily for debt. liz: sixth street is also out. >> they were doing preferred equity which is a type of debt so you know but they are not interested. liz: who wants to be attached to this anymore? >> this is where i think twitter will have to, listen, either going to court where they think the judge will force them to pay

$44 billion. they think they got a great case, that will be an interesting thing or maybe they think the judge will hand them a chunk of change, or, they will have to accept something less and maybe that is what he is doing here. all of this sort of you know, pushing it out. liz: what is john coffey saying. >> he said a musks mac clause. liz: john coffey of course the columbia law school professor. >> the mac clause is one way for him to get out of it the financing falls apart, i might have to pony up a billion dollars. then it is twitter's chance, no one will pay anything more than five billion. who will pay more than five billion for twitter? it doesn't make any money. there is nothing there. liz: he offered -- >> 44 billion. liz: hand signed papers. it is very possible they come back to say, okay, we'll accept 39, 38, and they start going down. that is what coffey is saying might happen.

what a lot of bankers think might happen. if he can hit the button on the mac clause, there really is, where twitter plays with fire with this there is no other bidder other than musk. liz: obviously. >> none. liz: we're waiting. >> not one private equity firm would touch this because it has no cash flow. it has funky earnings. not one outside buyer. you need a rich guy to take it private to do it. disney passed because of bots, disgusting stuff on twitter. sales force passed probably because of the same reason, balance sheet worries. liz: okay. >> now he is it. their game gambit, i guess, doesn't want to pay 44, roll the dice with the judge, he pays 44 in court, or they negotiate down which is what he is always wanted. by the way we've been reporting on the show, journal, "times," followed it us on that, that he wanted a lower price. we were first to report it weeks

ago, yesterday. newspapers are filled with that. liz: we'll cover the story in a big way tomorrow, if elon is stuck with it, he is a smart guy, working somehow, some way. closing bell. we have it four minutes away. should look at wall street's fear gauge, trading higher after falling four days in a row. the vix is back above the 30 level. it is gaining five, 6 1/2%. it is at 30.42. you already heard scott bauer talk about the vix, 40 where you start to see a market bottom. we're not there yet, but 40 would be a pretty dramatic move from 30. as we watch all of this get you this news. lily shares are on the move with a few minutes to go. the fda fast tracking the drug make ear es diabetes drug, after studies show it helped people achieve significant weight loss. the fda may clear this drug for weight loss use by end of next year. the health care sector is very much on our "countdown" closer's

radar. we look eli lilly up half a president, i would have thought kevin, kevin man from henion asset management. i would think this would be a hit because so many people are concerned with diabetes. >> so many people are concerned with health care in general coming out of the covid-19 pandemic. we should remember health care is one of the best performing sectors historically when the economy slows down up through and threw recessions. two-ways to access the health care sector, liz. one through pharmaceutical companies like eli lilly, merck, bristol-myers squibb. but also biotech. we're seeing noticeable pickup in activity since may of this year. that is another way the investors can play the health care sector with more potential. liz: so many biotechs plummeted in price over the past several months. you happen to to axiom.

>> sure, it is 32 billion-dollar small cap bio deck company. they provide therapeutics to treat very rare central nervous system disorders. that 2 billion market cap what companies like merck and pfizer look to acquire if they have a drug fda level two or 3 approval status. look at eli lilly attention they're getting because of a positive drug trial there. once a company like axem get as positive drug trial look -- liz: makes sense to acquire intellectual property because it takes forever and man and woman power to create. >> time and money. liz: drug developments is a fortune a long process that can sometimes end, no, sorry, the fda says no. let me broaden the discussion to markets here. >> yes. liz: federal reserve, three fed heads out saying we're not done with interest rate hikes. does that mean we still have more legs down for this market? >> i think more volatility is ahead but i think the fed

becomes less aggressive by the end of the year. doesn't mean they stop hiking rates. the means days of 75 basis point hikes are behind us. from that is true we reached hawkishness by extension as peak inflation. investors view this as worst days behind us and better days ahead. liz: what would you avoid, we always say what would you buy, what do you like very much in this atmosphere? >> companies request heavy amount of debt in the balance sheets in this type of environment. those companies with a lot of debt own their balance sheet don't have competitive advantages, certainly some areas of the tech sector you will want to be a little leery about right now. liz: i would think, we continue to watch the market we see the dow is down 362. what are you going to expect from the cpi coming up next week? >> we see cpi moderating still at record concerning levels but that doesn't necessarily mean that the fed won't become less

hawk irk by the end of the year. i think they will. liz: so good to see you. thank you very much, kevin mahn. this is the dow, s&p nasdaq, second down day in a row, investors fleeing ahead of tomorrow's key economic data. [closing bell rings] all important september jobs report remember you get it in the morning. how the market closes is where we come in. we'll see you 3:00 p.m. tomorrow. "kudlow" is next. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. day two of the saudi opec october surprise. even worse than the oil production cut, and the price hike, is the biden response from a statement by the national security and national economic council's decision is, quote, a reminder of why it is so critical that the united states reduce its reliance on fossil fuels, end quote. "the wall street j