guy them all gifts and it's been awhile and the pace is going pretty good. this will anger jay powell and should anger those who are getting in over their heads, folks. this was also always the plan and it always has been the plan. if you give you money, they want you to spend it and even more and that's exactly what's happened hence our predicament right now. hand it over to liz claman for another crazy last hour of trading. >> did you guys go to the program us mall without me? charles: i did but couldn't get the discounts without you. liz: these levels worse till about 1:35 p.m. eastern time and vice chair lael brainard gave

hope to the rate doves saying the fed is attendtive to further avers -- attentive to further avers shocks and currency moves could interact with financial vol merri bowlabilities and the markets internetted -- vulnerabilities and the markets read that as doveish and freezing up the buy buttons earlier are very worry some on your screen. the semiconductor sector getting shredded on chip sales to china without permission and russia raining down on ukraine for the crimea bridge blast that's halted russia's machining and this week might be anemic due to a slowing economy. look at s&p inter-day, it's not the kind of monday where investors are really rolling the dice and saying risk on. at 12:51 p.m. eastern time, you can see it right there, the s&p cried uncle and fell through the

33600 support level but right nw it's at 3613 and the nasdaq is where we need to drill downright now. folks, a loss of 76 points or more for the nasdaq dunks to a fresh two-year low and entirely erases the two-day rally monday and tuesday of last week, which had added 600 points or about 5.6% to the tech heavy nasdaq and here we are, we have the knack dak down about 89 points so that gain from last week, good-bye, gone, vaporized. why? the sox index chocked full of semiconductor names hitting a multiyear low of 310. right now at 314 but of course we still have it down on the back of friday's dumpster fire, which happened in the final hour of trade when news hit the tape and we brought it to you on the "claman countdown" but the biden administration was slapping fresh curbs on chips companies

exports to china. that smashed chip stocks wiping 8.6 billion off the sector. look at amd, nvidia, marvel hitting 52-week lows this session because the new rules block some of these companies from shipping their chips to china without permission and that uses them, the chinese use them in supercomputing systems, which the administration says could be used to develop weapons of mass destruction. but chip quick weapons makers are the tools that make chimes and land research and kla, they're getting really hit down 4 and 5% because they are banned from sending high revenue tools to chinese factories that produce logic chips, the brains of all electric devices. then there's investor anxiety ahead of earnings that kick off this week plus the big inflation data out we understand, that's the ppi -- wednesday, the ppi and thursday the all important consumer price index. no federal reserve meeting this

month, but you can bet that the fed will be all over those inflation numbers and whether, whether they moderate isn't the issue. the fed is on a rate hike rampage, till it brings interest rates back up to 4.5%. right to the floor show and traders kenny polcari and scott shellady. on msnbc he says a reseason in six to nine months. news flash, we know it's coming if we're not in one already. brainard said we're aware our moves could gyrate financial markets. kenny, what does it say to investors that depending on who's speaking at whatever moment, the market spasms up or down? >> it certainly shows the anxiety everyone is living in at the moment, and i think it's a little bit unfair for lael brainard to suddenly put that hope out again and then it'll turn into oh my god, the fed is pivoting and she said this message and that's going to happen and takes stocks higher

again and when inflation comes in strong, the fed will whack it down by raising 75-basis points and they need to stop opining and stick with the narrative and do what they need to do. we know they missed the opportunity in the spring of '21 to gently start raising rates when it happened and now they're backed into a corner and it just continues to ignite the angst that's in the market and force the market lower. liz: scott shellady, what does a trader do and investor do? the two are not in lock step with each other, but at some point i was talking to somebody who thought they bought nvidia at a low and now nvidia hitting a fresh 52-week low today. really hard to catch a falling knife. >> i want to do that number one. i had come from the point of view that, look, as long as you have got inflation or cpi with a 7 in front of it, there ain't going to be no pivot. they've already told us they've

said the quiet part out loud. they're going to kill inflation even if it costs jobs and a recession. so this whole idea that maybe lael brainard came on and said they're attentive. i mean, i used to work in a big japanese bank where we hired people to follow green span. these people are using words that aren't really that big of a deal but at the same time you have to realize we still have inflation above 7%. now, the market got really disappointed when we had 8.3 versus 8.1 cpi read last time around and we only got two tenths of the cpi knocked off and shoving rates up everybody's you know what. we'll continue down that path and they're not going to stop. if we don't get something significant, there's not going to be no pivot. they're going to continue to go town this path, and that's why i think if you're an investor, you're going to get better prices. i'm not here to pick a bottom but i'm telling you right now, we have inflation at above 7%. remember u in 1971, nixon had

his hair on fire with 6.6% inflation. we're nowhere near where we need to be. those rates are going to go to 4.5% by the end of the year, maybe 5. where does that put that 30-year mortgage? we have to keep the big picture in our sights. liz: and really rational people say until we have real rates that are higher than inflation, which we do not, we probably need to go to 6, 7, 8% to get to that point. you know, forget it. it's really not worth people parking their money and waiting. so you won get inflation down because again, they're not not getting any return by putting it in a bank or cd. kenny, what do you buy right now if anything? >> well, you know, to your point, you're not getting much of a return. you're putting it in a bank or cd and you're losing the cap and you're not gaining if you're worried about the market going down another 10 or 15% from

here. if you put your money just in cash, you'll save that, you won't lose that. one way or the other. if you want to stay involved in the market, which i do as a long term trader, i'm actually just being cautious at the moment ahead of wednesday, thursday cpi data and ppi data and the start of earning season. but the names i continue to like are the names that you and i have been talking about. energy is still a place i'm putting money. actually the semiconductors, even though they're getting smashed, i think this is way overdone in the semiconductors and quite honestly the only thing that concerns me even more what they just did with china and semiconductors is that elmore boldens china and i think, we're take taiwan and the semiconductors are all igniting that fire and more about geopolitical issue. one way or another. if you want to be in the market, you have to kind of be where you feel safe. they're going to be dividend pace, consumer staples is where i'm at. liz: mentioning energy, oil is

down today but still above $90 a barrel. scott, i do look at the vix. it's up about 4% right now. $2.56 above the 30 level. people were saying, oh, wow, it's above 30 at this point last week. now it's about 32. >> yeah, i think -- unfortunately people are getting comfortable with the levels and it'll have to go higher before we see people get real nervous, but that's going to have to come with data and data po po pointsd we'll get some this week with cpi and ppi and we'll get earnings as well. i agree, i agree with you, i like -- look, ladies and gentlemen, we're going to be using fossil fuels till i'm long gone, okay. the energy play is a long-term play, but i think it will -- i feel very strongly that that's going to be something that's going to pay good dividends and like kenny said in the short term, how can it turn away from 4% for a year or two? i mean, there's going to be a bit of money going there and taking long term plays and energy sector.

fossil fuels are here to stay and whether that takes 10 or 15 years to come back into play, i don't care, but i want to be in that sector for the next 20. liz: yeah, i would say the drillers oddly. it's one day but they are all down. i'm talking navers, noble energy, trans-ocean, apache. everybody is in the red solidly. kenny, scott, great to have you both. young pups. young pups. they just started in this business. i love you guys. we've only been talking for what, 23 years. renewed attacks and vladamir putin's war in ukraine taking an ugly turn with deadly retaliatory strikes on kyiv after the bombing of a key crimean supply line bridge. defense stocks are on the move but they're not the only asset class moving. price of wheat, wait till we show you. it is skyrocketing at this hour but, you know, how do you invest

in wheat if you wanted to because you believe there's a shortage that's caused by the war or by drought. how do you do that without buying an entire farm that grows it? the company that's letting you buy a piece of the farm. ceo and founder of the company is showing you how you can do it. first on fox business. he is next. closing bell, 49 minutes away. low of the session, folks, down 287. nasdaq low was down 203, we do have it at this moment much off those lows. in fact, we have the nasdaq down 89 and by the way, as far as jittery times, we have seen the dow changing. we're coming right back on the "claman countdown".

>> we have just get -- liz: we are just getting breaking news. ukrainian president vladamir zelensky confirming moments ago on telegram he spoke to president biden today about the country's air defenses. now, president biden released a statement this afternoon condemning russia for its deadly military strikes overnight which have killed now new tally here, 14 people. of course they've been targeting ukrainian capitol of kyiv, the president threatening to unleash more sanctions on russia after russian president vladamir putin ordered a series of missile strikes not on just kyiv but cities far west including la sleeve 43 minutes from the poll -- lyvive and in the an ex-ed crime crimea peninsula.

boeing down and up 2.5% and it's not just defense stocks reacting here. fears that the increased violence will reek havoc on agricultural exports out of the black sea region have caused wheat, a key commodity to spike now. wheat is not only up 6% today to about $9.34 a bush shell alone. that's up -- bush el alone, that's up 21% year to date. investors believe the war and global contracts and now a company called acre trader is enabling accredited investors to invest in wheat and lumbar by buying a piece of a farm. a farmer yourself, you grew up on a farm; correct are if

>> yeah, in arkansas. arkansas. liz: so you turn into a finance guy and find a way to enable people to invest in a slice of wheat farm because we have only seen wheat go higher this year. tell me how it works. >> for investors, it's very simple. come on the platform and purchase shares of a farm. this wheat farm you speak of, the farm goes into an l.l.c., and we break that l.l.c., into pieces so the investor can come on and buy a fractional interest in the farm. liz: you buy the farm yourself? >> yes, you the investor have direct ownership. liz: what kinds of farms? >> all kinds. we're in 18 states here in the united states and a few in australia as well. everything from almonds and pistachios to corn and beans. liz: obviously people are interested to know exactly how much a individualing starting slice would cost? is there a minimum? >> around $10 to $12,000. liz: why do that instead of

saying i think nvidia or micron or meta. why invest in that? make your case? >> we're not a get rich quick scheme. i'm certain that while digital paintings of monkeys are interesting to many people and bitcoin maybe as we, we don't need those things. we need food. we have to eat. on farms here in the u.s. and throughout our investments, we grow food, fuel and fiber. those things are linked to inflation. a very big hot topic right now and one we should all be paying attention to and things are becoming more expensive and we as farmers grow the commodities and ultimately those increasing commodity prices can be a value for farming. liz: during a time seeing a very volatile ex-wety market and today -- equity market and looks like the dow is about to go positive, why do you think farmland? can you give us metrics and some numbers because it does appear

that over time the average investment in this kind of opportunity actually has a nice return when you compare it to other investments; correct? >> it does. over the last 20 or 30 years, about a 12% annualized return and importantly that's without debt or leverage so far less moving around and volatility within prices. that's what we're really after is slow and steady compounding of capital and wealth preservation. liz: we have this return chart and it shows as you said about 12% or 11%. it's a bar chart here. you look at things considered attractive yields for example, they don't return as much. stocks a little bit better. a commercial bonds gold and at the very bottom we talked about cds and not returning enough. tell me about that. that hopefully will end at some

point but you also take into effect things like drought, climate change, all of the problems that we've seen, mass flooding. how does that make your pitch even more strong? >> well, all those things create both winners and losers and obviously as investors, we want to be winners when we do invest. with farmland and et scale, when purchasing at scale on national and international basis, you can exclude certain areas where the areas are more pre-fitting prev. we hear a lot about california. there's very dangerous parts of california to invest in and really amazing parts of california to invest in. we as a company have a team of 30 or 40 folks who are just focused on data science and their computer engineers and data scientists building a platform for us to better understand and better write investments. liz: you've had a lot of smart people investing in you and they're putting money behind you, not just in the slices of farm. how do you make money? >> we make money usually from

the seller of the land. as you would in any real estate transaction and the seller pays a brokerage fee and then the investors pay anti-seek story yule management -- an annual management fee. it's very, very low and i come from arkansas and the land of wal-mart, we're very much after scale and helping investors and farmers both at scale. liz: carter, we're always interested in new trends when it comes to investing in new opportunities and our viewers about it. we'll watch acre trader. thank you for joining us. >> thank you, liz. liz: you have to be accredited but once you are, get in if you want. go down on the farm but not the whole farm. thank you so much. uneasy days for yeezy as anti-semitic rant gets him banned from social media and top retail partners rethinking a relationship. details on what kanye west said now and how two specific stocks

are reacting to it. that's ahead. with the closing bell ringing in 38 minutes, we're going to show you what's cut the engines on ford and gm stocks. we are coming right back. now the dow's up 21 point-blank layupses, the rest are in the -- points, the rest are in the red.

liz: fox business alert. is there such a thing, austin, as a silver bug? i know there's a gold bug. >> oh, definitely.

liz: definitely. the floor director knows. look at silver. i said pull this up in the commercial break because it is looking tarnished at this hour. down 3% at the moment. a lot of this has to do with a stronger green back at the moment and the stronger dollar playing into some of the red on the screen that you see. so many things that work. what did we tell you, semiconductors and russia ukraine situation and federal reserve. silver down 3% on the strong dollar. we have a healthy gain in shares of dow component markets at this hour after the pharma giant announced successful results from late-stage study on experimental blood pressure treatment. the medication which treats a hypertension disorder was acquired after merck bought acc elleron last year and merck has quietly gained 18% while the dow over the same time period has

fallen 19%. meanwhile w i didn't recollectsg at bottom -- wynn resorts sitting at the bottom over fears of china inflicting tough tariffs. some areas are high risk in response to a potential outbreak. five cases were reported in the region north of mocow and the city could go back on lock down once again. kanye west locked out of twitter and instagram accounts. he posted over the weekend anti-semitic tweet violate the policies on hateful conduct. twitter didn't say if or when can way can access hi -- kanye

can access his accounts again and twitter removed some of his content. adidas said its reviewing its partnership with west after wearing a white lives matter shirt to the show in paris. kanye terminated a deal with gap that had the possibility of lasting ten years arguing the retailer abandoned its contractual obligations to open stores specifically to sell the yeezy products. interestingly since the last week since he exited, gap is up more than 17%. ubs downgraded auto makers ford and general motors citing a likely recession that could reel in forecasts for both companies and both shares down by 6.5% and gm down 3.5% and stocks are hitting hard down because basically the brokerage cut gm's rating to neutral from a bye and

downgraded ford to a sell from a neutral. it also trimmed gm's price target to $338 from $56 and gm t 32 and change and clipped ford's target to $10 from $13 and ford at $11.40. ubs is predicting destruction demand for all autos, crude oil prices looking less slick today after last week's five day winning streak that sent the commodity up 16.5% after opec+ announced a much bigger than expected cut in production. while crude take as bit of a breather, down about 2%, prices at the pump have continued to trend higher. according to triple-a, the national average price of a gallon of gasoline climbed to $3.91. now this is the 16th straight day of gains. california, one of the most expensive places in the nation when it comes to paying for that gallon of gas. kelly o'grady is there at a chevron gasoline station in los angeles. they voted in boutique fuel

costs because of course the smog was such a big deal and tell us what you're seeing right now as these prices tick higher again. >> reporter: consumers, liz, they're feeling it at the pump but don't take my word for it. look at what this driver just paid, 19 gallons, that's a pretty big vehicle they were filling up, $124. imagine paying that every week and a bunch of dynamics driving up prices in california and planned and unplanned refineries shut down and california is an energy island. what you don't produce here, you have to import fro from other ss and another big reason for california's high gas prices and i want to take you over here; right. we just had someone fill up and for every gallon, they're paying over 20% in taxes and fees. we have the highest environmental regulatory restrictions so about $1.20 of that price is due to taxes. now, on top of that, we're also considering, the state is considering a wind fall tax on

profits for oil companies so i want to share with you and adding further cost of taxes or regulatory constraints will only further strain the fuel market and impact refineries and those costs will pass to california consumers. there's a number of investigations being thrown out regarding price gouging as well but regardless, prices may only get worse largely because of that opec production cut that you mentioned, 2 million barrels a day but, liz, look at this; right. so $6.49 a gallon and that's come down over the last couple of days as we switch to california's cheaper winter blend, but $6.99 in diesel. that price jumped 30-cents overnight and i want to underscore; reich, diesel gets our groceries and our holiday presents to the stores so that is going to have a big impact on inflation.

we might not see that come this week cpi number but certainly that will be factored in as we look at november and december. a lot of things to think about. not the least how much that guy, $124 was paying to fill up his tank. liz: oh, yeah, i saw that and just -- a shiver went up my spine, kelly, you know what, you're so right. people are also seeing it when you look at consumer credit, they are turning to credit to pay for things like this. and they're turning to it more and more so we got to keep an eye on that. this could start affecting the economy even more. kelly o'grady. thank you so much. trader scott shellady, if you watched at the top of the show, the guy with the cow jacket, decades from now we'll still be using fossil fuels. probably. but one of the world's biggest oil companies is now making a major shift to charge up the ev sector. the president of bp pulse fleet is here in a fox business exclusive to tell us about hiss

big tie up with the rental giant hertz on electrify indication. closing bell 26 minutes away. we're flat on the dow so we can probably move that number up once again on how many times we've crossed the unchanged line. so many cross currents and headlines. we're bringing all of them to you as they hit the tape. don't go away. you're in the right place. stay tuned.

liz: not a rivetting moment for rivian investors at this hour and the stock losing grounds to the tune of 7.25% after the company recalled nearly all of the evs or some 13,000 vehicles due to a potential steering problem. now, there's been no accidents yet but involves a fastener in the front suspension and may not have been tightened fully in some vehicles and could make it harder to steer and possibly

cause a crash. the recall includes every rivian r1t pickup and r1s suvs made through late cement as well as some of the edv delivery vans produced for amazon. rivian's problems aside, as witnessed just by what kelly o'grady showed us in the last hit at the gas station in california. evs are really gaining traction with americans seeking to avoid the high gasoline prices. jeff block is at a tesla charging station in king of prussia, pennsylvania, not because of demand for cars but the infrastructure build out. >> reporter: well, yeah. that's right, liz, and this is a tesla super charger in king of prussia, pennsylvania. nobody paying for gas out here. they come and go. i've spent a lot of time at super chargers and never met a person that owns a tesla who doesn't love it. that said, there are some

peculiar issues as there are with all cars with electric vehicles like don't submerge them in water if you can help it. yeah, that's what happened down in florida with hurricane ian. we had the floods and what can happen is the battery corrodes, you know, you don't want electricity and water mixing and if that happens, it can spark a battery fire and they're hard to put out because it's something called thermal run away. essentially the heat generates more heat and just kind of builds on itself and it's hard to put it out. that said, if you do lose your battery like that, it's going to cost you to replace it. the cost of replacing a tesla mad el s battery -- model s battery is about $20,000. lesser for other vehicles like the toyota prius and small hybrid battery, $2700. your insurance is likely to recover from a hurricane and loss of -- cover the cost of car

and battery from a hurricane. $4,000 is the average annual premium and f150 lightning for ford, little less than $2,000 and bolt and nissan leaf a little less than that as well. the other point that i would make and we didn't think about this maybe as much as we should have, the charging stations like the one i'm here at right now and maybe look at there for back live. this is where they interface with the charging grid. there are 47,000 charging stations in the country, 118,000 charge points, and the security folks say they offer poor to minimal protection against hackers. we talked to an expert today who says this could be a backdoor into the grid, which could be very disruptive. listen. >> the hackers are going to grab one of these things, yank it off the foundation, take it home and, you know, in their parent's basement, tear it apart and find the vulnerabilities of it and

don't think this isn't going to happen. >> reporter: well, sounds a little bit crazy but, you know, i just heard from someone i talked to today who tells me that in new york, in some places they're taking these where they attach, the cable and cutting it off because it's got apparently a lot of valuable stuff in there. i don't want to tip anybody off to that and have it become a craze, but apparently that's happening already. so, you know, you get new vehicles, you got new issues. you got to figure them out. liz: you just did tip them off. wait, jeff, again, i got an ev. i'll take all of those problems. >> reporter: you love it. it. liz: all of those problems. by the way, there's a lot of problems that can be hacked. the ones that matter, depends. depends what matters to you. >> reporter: you know, my 1984 mercedes convertible cannot be hacked, that is impossible to hack that car.

it's got no computer in it within a mile of it. liz: do you have a mechanic that can fix it though? >> reporter: yeah, very expensive mechanic sadly. as much as your ev costs. liz: hey, it's good to see you, jeff. what jeff just pointed out is a need. where there's a need, there's a company jumping in to fill that need and one of the largest oil companies in the world is charging forward seeing a major need for charging stations. british petroleum created an entire ev charging arm bp pulse and it's teaming up with rental car giant hertz to install thousands of ev chargers at rental sites across the u.s.. the deal will support hertz ev fleet as it has announced deals to buy up to 340,000 electric vehicles from the likes of tesla, pull star, and general motors. joining me in a fox business exclusive, bp pulse fleet president vics show.

how did the deal with hertz come act? account? about? >> by the way, liz, thank you for having me on the show. great to be here. hertz purchased 30,000evs and to support them it doesn't exist and that's bp's scope of work in the deal. they're launching this nationwide charging network for hertz, for their own internal use and to make it available for the greater public. liz: how many charges stations do you expect to build out at the hertz rental car area s? >> the needs are pretty significant. it is on a scale that the country has never seen before and our approach to this is to set up large hubs at or near center of gravity such as airports, city centers and whatnot to make it, you know, high utilization and high traffic. liz: these are across the united states. the deal includes the software that supports.

ev chargers; correct? can you explain what your omega software does to play into making sure that these charging stations work for everyone? >> yeah, thanks for pointing that out. it's not a five minute fuel up anymore as it is with fossil fuel. it's going to be several hours of charging time like with these evs so what that means is that currently hertz has a program where when you drop off the car, the car's available after washing, after cleaning, and now we make -- add charging to that to get to the next renter as quickly as possible. we're simply using the software to add charging as part of their operations but more importantly for the greater public, we need to sequence that charging for the ride share drivers for the greater public so that they have confidence in charging. we have a scenario where every

highway entry and exists, there's probably ten gas stations within a mile radius with evs. the next station is probably 50 miles out. so it's kind of critical to sequence all of this with software to make sure that the consumers are getting a consist reliable charge every time. liz: vic, you said it takes hours. my car takes 20 minutes to do a from nothing to full charge. very fast. >> depends on how big your battery is and the charge rate and that's exactly right. i mean, we need to deploy the infrastructure not only in terms of numbers but in terms of speed and the charge rate. as jeff was reporting at the super charging station, i can tell just by looking at those stations that those are the new variety capable of 250 kilowatts and you're exactly right. one of those charging stations

is 20 minutes, no more than that, but there's also a lot of legacy equipment out there that provide a much slower charge. liz: i know you work for bp, british petroleum but do you forsee a point ever, and i know this is part of let's check all the boxes for evs and fossil fuel, itself -- et cetera and for internal combustion vehicles, but do you foresee a point where bp pulse becomes equal to or maybe even bigger than the gasoline piece of bp? >> so what we're doing here, liz, is really laying the fuel distribution network of the modern era. that's essentially what we're doing with ev. i mean, evs, they're still part of the fuel mix. but i think a lot of the projections points out to be a pretty significant volume over the coming decade. so i think we all have to see what unfolds but my bet is certainly on the ev piece.

liz: i will say that i was in northern ireland and i rented a car, and the car rental place only had either evs or hybrids. it is big in europe now. therefore they've got a lot more charging stations, got to get up to speed here in the u.s. if that's what people want. let the free market work. vic, great to see you. thank you very much. please come back. >> thanks for having me on the show. liz: any time. after september selloff, the hunt for red october. you can argue what's right in front of our faces, but doesn't mean it's a certainty at least some market watchers think. today's countdown closer is playing jack ryan. he thinks wall street winners won't be as elusive as the soviet submarine using caterpillar drive. closing bell ringing in ten minutes. we do have the dow just cling to a tiny bit of positive territory and as you see, it's flipping back and forth and back and forth. we're going to keep up the dow and watch this and get a final tally of how many times we have crossed the unchanged line.

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♪. liz: we just learned, breaking news, moments ago, that president biden while on that call with ukrainian president volodymyr zelenskyy promised to continue to provide ukraine with the support it needs to defend itself including an advanced air defense system. now the president also continued his condemn names of russia's missile strikes across ukraine which has killed at least 14 people. boeing up about 2%. lockheed martin up 1.7%. northrop grumman up 1.7%. we've got the closing bell, four minutes away. talk about investor uncertainty and jittery attitude, right? this is like a teenager who can't beside which bff to invite to a concert. the dow crossed the unchanged line 91 times in a seesaw session. wasn't it 55 at the top of the hour? just in this amount of time it has gone absolutely crazy on indecember sieveness here. dow is down 38 points but hold

off on "the hunt for red october." the bear has been sinking its claws into stocks this year but our "countdown" closer says october could be the bear market killer. ryan detreich joins us, chief market strategist at carson group, a group with 20 billion in assets under management. ryan, you know i love you, all i can think what everybody believes, that the fed will continue raising rates, that until they are finished we will see lower lows perhaps? >> yeah. well, liz, first off, thanks for having me back. you're right, the fed is aggressive, we know that. what is priced in? market is forward-looking mechanism prices things in. if we get any news on cpi coming up later this week, look at inflation data, used cars have come back down, chicken wings have come back down. prices paid for manufacturing has come back down. we're optimistic inflation will come back down. the fed is absolutely aggressive

that is baked in the cake. don't forget this time 15 months ago the fed was dovish as it could be. the fed is not always perfect here. the negative sentiment, six out of last 17 bear markets six of them bottomed in october. fourth quarter after midterm year is very strong. we get into some of that stuff, we could be in process of making a pretty major low, sounds as bad as crazes is bad as this year has been but this is all but in october. liz: you're pulling up the traders almanac. if that is the case where are you putting your clients money? >> you mentioned the defensive names already, like lockheed martin, some of these defensive names. this isn't just a today thing. we've seen strength coming from this group in general and industrials in general, liz, there is some really solid earnings growth coming out of that. so that is one group we like. also small caps. we know the s&p kind of flirting with the june lows, maybe broke them by a tad.

small caps have not broke the june lows. small and mid-caps shown outperformance f you think about it that could be a big positive. there is a lot more small caps out there than large caps f you're not bearish the economy, we think the economy will avoid a recession. we think that is positive. everybody come on here with energy, you look at energy stocks like exxon, take out dividends, where they were in 2008, literally gone nowhere, if my math is right, 14, 15 years. to think there could be room to the upside in energy stocks we that is absolutely the case. they haven't gone anywhere for a decade. liz: how closely will you watch something like the consumer price index that comes out on thursday? because that is going to be one of the most watched pieces of data in 10 years i think? >> if you told me 20 years ago i would care i would have laughed at you. liz: i know, we didn't care before. >> absolutely we'll watch that extremely closely. when you look at other input prices we've been seeing we're optimistic it will show it

peaked, coming down a little faster, that could give the fed leeway not to be quite as hawkish to help stocks the rest of this year. liz: ryan, good to see you. we're officially complete nerds. it matters to peoples money and the markets. thank you. closing bell rings] market starts week on adown note. doesn't look look dow will make it into the positive territory. bond markets reopen tomorrow. ♪. >> hello, everyone, welcome to a special edition of "kudlow," i'm david asman in for larry kudlow. americans are looking at their paychex and president biden has never been more optimistic about the economy. really? edward lawrence is here with more on all of this at the white house with