and recession take an even larger bite out of main street. they'll add insult to injury. but here's the rub, i think the only way to long-term survive onslaught is to be invested. to be invested in a smart way. i know almost all the guests today were negative about this market, still, your bank account is never going to outrun inflation. and job losses, maybe even you, you might lose your job. the stock market is probably going to move higher near term, and long term it will. this is the worst year ever for that 60-40 combination. i think it'll bounce back. one thing we do know, polling these kinds of -- following these kinds of years, we often have major rebounds. staying the course is the most important thing, and i know painful right now. that's why i'm here, and that's why liz claman is here. right, liz? liz: not painfulled today. look at this nice gain -- charles: it's like a band-aid, you know? we might need a tourniquet at

this point, you know? liz: yeah, i know. charles, thank you very much. on this monday, fox market alert, it's one of those rare days where good news is actually good news for stocks. after a major earnings beat by bank of america and a new research report showing the semiconductor supply chain crunch might be finally easing, dow jones industrials up 554 points. we have the s&p better by 94, the nasdaq climbing 347 points, and the russell up 47. nice moves all around. finish let's just thank bank bank of america right off the bat. also bank of new york mellon, both have reported beats on the top and bottom line in the third quarter. ceo with brian moynihan singing a much happier tune than jpmorgan chase's jamie dimon. dimon, of course, was in full blown 'yore mold last week. today moynihan said on the earnings call that the

customers' deposit balances remain higher than even pre-pandemic levels and that delinquencies, while ticking, oh, so slightly higher, do remain low. spending growth, particularly on travel and entertainment, remains resilient. all right, to the nasdaq, biggest percentage gainer, up 3.33%, 344. big move here. so we paired the nasdaq here on the screen with the philly semiconductor index which is up is 1.9% because susquehanna indicates that the microchip lag is finally starting to shrink. so pretty much the entire sector propelled higher either on that report or maybe simply because with short-term technicals and the negative headlines from the last two weeks have investors overextended to the downside. you see all of these names comfortably in the green from amd to marvel, semiconductor, intel, qualcomm, pretty much all of them.

with less than a month before the next fed meeting, an, oh, so tiny slice of the market thinks maybe we won't see a 75-point interest rate hike for the fourth time in a row and instead could just possibly tighten only by 50 basis points. but let's be clear, 99% think it's going to be 7. 5 basis point -- 75 basis point hike, and that would be november 2nd. treasury yields not exactly retreating on that news, they are still at 4 even for the 10-year yield. last week, remember, the 10-year did jump slightly above the 4% level. right now it's not like we're really exploding to the downside. and the 2-year is pushing closer and closer to 4.5%, 4. 439 at the moment. however, this is one billionaire investor who says the fed needs to look at the u.s. economy like this, this thing on your screen

which he sent us. [laughter] look at the u.s. economy, he says, as a snake who in the wake of the recent rate hikes has already killed off the squirrel which he says is inflation. okay, just do me a favor and work with me. i know it looks like an ill dragon that's having a hangover. it's supposed to be a snake that's swallowed a squirrel, and he needs time to digest. that investor says the fed needs to hold off and just calm down. ken fisher, founder of fisher invest ifments, is the man who -- ken, where'd you get that image in. [laughter] >> i stole it. i stole it from one of my employees who drew it. liz: okay. do we a favor and explain to our viewers, kind of expound upon this analogy. >> in the last couple of years, we ate a lot of inflation. we just did. and yet now commodity prices are down, growth and the quantity of

money has become quite reasonable. the supply chain snafus which were or torturous for almost everyone, and you just referenced the semiconductors, but broad-based have been getting better, not perfect. but when the snake eats a big something, the thing's dead when it gets inside of the snake, it just takes a long time where the snake is lethargic for it to get digested. and that's what's going on with inflation. we're working our way through all the inflation that came as a result of the aftermaths of things that were done associated with covid. that's it. liz: do you think, ken, that the fed needs to continue raising rates? because they have made it very clear pretty much across the board that everybody's a hawk on the fomc board, and they feel that a bigger mistake would be to stop and the snake suddenly digests more quickly and then

the next thing you know, the snake is hungry again, and we have inflation that hasn't been beaten down enough. >> when i was a boy, a long, long time ago in a world far, far away -- [laughter] milton friedman correctly said that the fed shouldn't try to fiddle with interest rates to project what would happen to the future but, instead, focus slowly on the. quantity of the money supply. he was right then. money supply's harder to figure out, but it's basically right now x. they don't even have a clue what they're going to do 3, 6 months from now. the fact of the matter is they shouldn't try to do this kind of tough that they always try to do. what will they do? probably what people think they will. what should they do? sit on their hands more. liz: interesting. so you're in the camp of jeremy siegel who, of course, told neil cavuto, the same thing, you've got to wait because prices are coming down. we know that home prices have, indeed, started to fall. and if you look at the home builders right now, they're actually having a pretty good day. more importantly, redfin came

out with this brand new stat that said that the number, the percentage of sellers who have had to cut their selling price, the asking price that they wanted, has hit an actual record. it's declining pretty quickly by about 7.9%. and so i think that's certainly an indicator, is it not? and as you see all of this, what do you think is the better investment here? is will a sector that might be the one -- is there a sector that might be the one to kind of start dipping your toe? >> well, there's a and b you're asking about. first, on the home part, you've got to be careful there because while that is true, it is also true that things are different than they used to be the, and the report looks at long-term numbers. but today most people who shop for a home or want to sell a home are using redfin, like you cited, or zillow or some other online source. and the fact of the matter is that in this world you lives a home, and then it falls down the category as people search for

things. but if you drop the price by this tiny amount and that price drop they're citing in that report is 1%, a lot of -- you don't have to drop 1%, just a tiny, little amount and it counts as a new listing. pops them back up to the top of what people see. so there's a big tendency for people to make these little adjustments down so that they can pop back up into people's eyes as a new listing. liz: well, tell me, ken, what do you think is something that could snap back pretty dramatically? and as we look at the 10-year, sorry, that's the 30-year treasury yield, but we just showed the 30-year fixed mortgage which, of course, is up above that 7%. it's getting really disconcerting if you want to buy one of these houses on a 30-year fixed mortgage. what about if you look at, for example, the stocks right now that are, that were really hammererred? for example, the pandemic stocks that were darlings here whether it was zoom or of course that, and some of -- okta the, some of

these other names, teledoc. they're doing beautifully today. i'm wondering what's at the heart of an investor sentiment on a day like this. >> let me make a different point. from the beginning of the year on days that are down, that broader category of tech growth has lagged the market and on 70% of them. on days when the market's up, 70% of the time they lead. this is more directional than it is leading or lagging. a day like today, like you say, the fact of the matter is big up days, big up moves. big up days in the market, big up moves in the fang stocks, in tech. it's not a lot more complicated. people confuse leading and lagging with directional. right now this year, all year long, it's been basically directional. when the market turns and goes into a new bull market, you should expect those stocks to be leading again. liz: okay. >> at a time like this, tends to bounce the most when the new bull market starts.

liz: and finally, where will you find the signal that a new bull market is starting? tell our viewers -- >> i don't have a clue, and nobody else really does. [laughter] liz: so don't believe anybody. >>ing anybody who thinks they really understand how to predict the market in the short term needs to take themself a little bit less seriously. let me say this differently, however. when you get a market down as much as this market has been and you've only got one or two years, richly rewarded for owning stocks, you don't need to get a lot more complicated than that. liz: ken, good to see you. >> appreciate it. liz: ken fisher. did you see this one? yeezy making himself comfortable in the parler. billionaire kanye west pulling out his wallet to buy the alternative social media platform. it's an attention-grabbing acquisition in a year that seems so few -- that's seen so few compared to just a year ago when mergers and, yes, you remember spacs going parabolic? wall street legend betsy cohen joining us live in studio next

on what's really behind 2022's blank check whiteout. "claman countdown" is just getting started. dow jones industrials up 538. don't move, we're back in a moment. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

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parent company are looking to close this deal by the end of '22. it's not done yet, but they're looking to close it. the rapper released a statement saying, quote: in a world where conservative opinions are considered controversial, we have to make sure we have the right to freely express ourselves. this to -- proposed tie-up doesn't seem to worry investors in meta or snap. meta is up about 5.6%, twitter's also up lee-quarters of a percent. digital world acquisition corp., this is the truth social spac partner, it is slightly down, well, down 6.6%, but it's down 67% year to date. and, obvious, rumble, which is run by cantor the fitzgerald which is now also a server for social media networks. so when it comes to controversial mergers or, certainly, up conventional mergers, betsy cohen takes the lead. the godmother of the spac world,

that's what we're calling her. she joins us now in a fox business exclusive. her investment firm was among the first to enter the spac market in 2015. i guess to date, what, 15 blank check mergers? >> i think that's right. liz: take us back to 2015, because there is this misidentification where people think this all started during the lockdown and the pandemic, but spacs were well before that. >> i think spacs go back to the mid '90s, and it really talks -- you are asking exactly the right question, or liz, because spacs are a vehicle to take companies to the public and to fill the capital needs that a variety of companies have at different times in the economy. so in the '90s, it was steel companies that couldn't get capital. and later on other companies came to the market. but in 2015 it began to be clear

that financial technology companies were meeting the level of maturity which would allow them to be public companies. liz: you know, i've got to ask you about these star-led mergers and star-led spacs that have been out there. and some of these big companies going public whether it's twitter and elon, that was not, of course, a spac, nor is kanye-parler, the potential acquisition, but what do you make of the merger atmosphere right now that's out there? >> well, i think that, you know, valuations are perhaps more realistic today than they were even a year ago. and mergers are a way of combining companies that really have the same view as to what they want to accomplish. so financing is available. the celebrity-led mergers are certainly intriguing.

it's almost like watching a sports game. liz: yes, yes. or a train wreck, depending on concern. [laughter] >> well, that's the end of the line, the beginning of the line it's a sports game. liz: we're waiting for the end of line with twitter and e longer we shall see. but -- elon, we shall see. betsy, there's been a sharp decline specifically in spac activity. if you look back just last year, there was something like 613 spac mergers. this year, and we're already mid october, only 82. what has gone wrong here? what's happening that this just isn't a thing right now? >> you know, i think it's not -- if you take a look, well, let me start another place. if you take a look at the ipo market, how many of those have there been? very, very few. liz: true. >> so all of the elements and vehicles that take a company from a private to a public

status are down. and why is that? because the public markets really roiling. the volatility, it's not that they're up and down which they are, but the volatility is just quite extraordinary. i mean, today if you compare it to friday is just one little example. liz: yeah. and the vix is actually down 2.4%, still above 31 at the moment. betsy, i'm looking at some of the ones you began. your very first one was a spac that end ended up finding its target in a company called card connect. >> correct. liz: you raised a lot of money, the company, very viable. it ended up being bought by our buddy, frank bisignano, at fist data. a lot of these do not have happy endings. the "wall street journal" has an article, it looks like the people who bring the merger forth do well financially while investors who put their money into it thinking, oh, they'll

find a good target, and they do but whether it's market conditions or what have you, they lose a lot of money. there's been destroyed wealth. >> i think that that's absolutely true, but i think what investors are not looking at is quality of the sponsors. and if you take a look, i may just be prejudiced, but if you take a look at the companies that we've underwritten in terms of their journey to the market, they've done, really outpaced the market significantly. go back to 2019, one of them is raiding at 24.50. if you look at those in 'to 20 and '# 1, they're down because the market is down in that sector, and that's financial technology. and you can't fight the market. liz: well, you also have to be careful. people dive into the spac ecosystem without understanding it or doing their home work. >> absolutely. liz: what is your advice to

people watching who say, wait, i think spac and i think virgin galactic -- which is not performing that well -- but you think of some of these sexy names. what's your piece of advice for anyone thinking to invest? >> i think you have to look at the sponsor. you have to be sure that the sponsor is a fiduciary for the investor. and by that, i mean they're looking for a good company at a price to the target or that a will trade well. -- to the market that will trade well. and that is the really most important piece. liz: everybody thinks spacs were a brand new thing that came to light in 020. no, no, no, betsy has been doing them forever. [laughter] you got any on the horizon, coming up? >> well, we always have things on the horizon, coming up, and we think that there are good companies out there. and there are companies that will be well receive by investors. but the investors really today, institutional investors are a little bit more charity in terms

of the way in which they approach these. so the terms change, the valuations will change. but if it's a benefit to the company to go to the public market either because they want currency for acquisitions or some other element, those deals will get done. liz: betsy cohen, thank you. good to see you. >> nice to see to you, liz. liz: right here in the studio. spac merger were not the only thing heading to the moon last year. remember how crazy shipping container costs were? crazy. well, well, wet -- well, wait until you see where they are today. are they better? are they worse? we're about to take you live to the port of los angeles for a teach dive on whether the supply chain is still snarled in the post-pandemic economy. and also ahead of the holiday shopping season. this is something we all need to hear about. closing bell ringing in 37 minutes. the dow continues the climb here. sill not at the session high,

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shares of the two wings of media mogul rupert murdoch's media empire are moving in opposite directions, fox corporation on news breaking after the belfried that murdoch wants to recombine the parent of fox business with news corporation which owns the "wall street journal." so you've got news corp. up 2%, fox corporation a shares down 9.9%, w shares down 8.4% right now -- b shares. news corporation owns the "wall street journal", market watch, dow jones news wires, harpercollins, among other things. fox has announced leaders of both organizations have separately are begun exploring the combination of the two. credit suisse downgrading fox from neutral to outperform on merger concerns but says the deal would likely be approved given the murdoch family trust's dominant voting bloc in each. shares of continental resources are gushing on news that the billionaire founder

will take the u.s. shale producer private at a valuation of about $27 billion. the stock right now up 8.5%. hamm has offered $74.28 per share for the stake not already owned by him and his family. now look, we're at 74.08, so not far from it. the all-cash offer represents a people upof 8.9% to -- premium of 8.9. hamm and his family own 83% of continental's common stock. and elsewhere in the energy secretary -- sector, this is an interesting one, bp has agreed to buy american renewable biogas producer arkia energy for $3.3 billion. that is, plus debt. bp agreed to pay $26 a share for arkia, this is a 38% premium to the u.s. company's 30-day weighted prize share. right now it's at -- price share. bp will also take on 8ing 00 million of archaea's debt.

and look at roblox. shares are absolutely skyrocketing. let's call it 20%, 19.8%? i'll say 20%. this after the online gaming company reported metrics for september that showed stronger engagement year-over-year. roblox offers developers tools to create their own video game experiences and digital goods to sell on its platform. average daily active users rose 23% from a year earlier when people were stuck at home much of more, right? so this is good news if shareholders are still in it, you know? shares are still down about 58% year to date. the cost of shipping not digital goods, but real goods from china to the u.s. finally seeing some easing. the average price to ship a freight contain ther across the pacific ocean has fallen from its 2021 peak of $20,000 now to $2 the,720 -- 2,720.

i'd say that's a discount. but as consumers gear up for the holidayen season, sticker prices are not going to budge as major retailers the still putting out fires with overstock and extra inventory. rising energy along with the labor costs that are moving higher. the global supply chain still snarled with a whole new crop of problems popping up at the ports. kelly o'grady is at the port of l.a. in california, of course, with more on the new threats emerging. kelly. >> reporter: hey, good to see you, liz. yeah, i'm at the port of l.a. today, and just a year ago we were dealing with ships that were queuing for miles offshore. but i want to show you what the container yard looks like. this is where all that cargo would get unloaded and wait until trucks and what not came to picket up. you're seeing some pile-ups, but at the peak you had a lot more containers idling. but there are a number of challenges that could put us right back to the height of that chaos. so the drought is the first one.

it's causing the lowest water levels in the mississippi river in a decade, vessels have gotten stuck in the mud and on sandbars putting $130 billion in trade value at risk, so shutting that waterway down could send shipping costs soaring again. second biggest challenge is labor. the most looming threat is the railroad deal. good news on that though is there seems to be a willingness to negotiate rather than strike. >> we do not want to strike. our members would prefer to have the sick leave that we're asking for. the railroads have just made astronomical profits. >> reporter: now, i want to paint you a picture of what that would look like though if they did strike. back to this contain ther yard. this is where the trains and the trucks come in to pick up that cargo. the trucks would have to pick up the slack, and we're already dealing with a shortage in the country. and so, actually the, just before we got on air there was a backup, they were absolutely at a standstill. and so it shows you already how these trucks are feeling that

stress. and if so it could get a lot worse to the tune of 2 billion in economic impact each day. we might be seeing some improvement here now, but that's not trickling all the way through the supply chain. but, liz, if i haven't scared you off with a little bit of my doom and gloom, make sure to tune in tonight on fbn prime, the season of how america works premieres, and heir going to be talking about the supply chain and cargo. liz: and mike really breaks it down -- mike rowe really breaks it down as you just did. kelly o'grady live from los angeles. up next, this battle over rare earth minerals is getting much more dramatic here. lithium, just one of the elements needed. dragon fly energy relies on it for its lithium ion batteries. the ceo is here to tell us if china and russia are looking to corner the market on the critical natural resource and what we should be trying to do about it.

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liz: market rally, big move here for the dow, up 580. all right, between america's ban on exports of u.s. microchips to china and the u.s. supporting ukraine in russia's invasion, tensions among the three countries could lead to this: russia and china weaponizing lithium. china controls at least two-thirds of the world's lithium processing capacity, and now both russian and chinese companies are in the running to control the untapped lithium market in bolivia. the south american nation has announced four chinese and one

russian group, those are on the short list of possible partners to work with the state's lithium company. only one u.s. group is the only western company still in contention. lithium, of course, as you guys know, has become a hot ticket as more technology utilizes the rare earth resource. of dragonfly energy, which just went public, is right smack dab in the middle of the space producing lithium eye onbatteries for everything from rvs to boats to solar panels. joining me now, the ceo. dennis, i'm worried about this because, obviously, china's enraged especially since the biden administration two weeks ago said, you know what? no more u.s. chips going to china because they could be used for weapons of mass destruction. that, i understand. finish but if i'm china, i'm thinking, well, what do they need that we have, and that's lithium. what if they cut off all the lithium to the u.s.?

>> well, you know, certainly that is a scary thing to think about. that's why i think important that we increase our infrastructure here in the united states. look, there's a lot of lithium here. dragonfly energy in particular, we set up shop in nevada for a reason, and nevada has one of the world's largest deposits of lithium all over the state. and i think it's sort of a top priority these days to increase the, our mining capabilities domestically, but also the entire infrastructure for manufacturing lithium ion cells here domestically. liz: well, you're lucky because you've, obviously, been focused on nevada. but there are many companies that are perhaps older than you, and they've been around a long time, and they've been comfortably -- at least over the past decade or two -- been sourcing from china. what are they going to have to do, and do we have enough for everybody or who may want to turn back stateside to u.s.-mined lithium?

>> i mean, there's enough lithium, it's just a matter of timing and how quickly we can grow the infrastructure. and, you know, i'm focused on dragonfly energy. we've got our own markets, and we've got our own strategy on how we're going to grow, and we're basically trying the match out you are access e to lithium over the near term and medium and long term so that it can the fit with our growth centrallings. liz: let's talk about your business. your lithium ion batteries are in everything from rvs, power systems, industrial system, but you also have an experimental battery division. tell us about that. >> yeah. so we are a lithium ion battery technology company, and our primary innovations have to do with the manufacturing of lithium ion cells. so we very much were interested in manufacturing the cells domestically from the if beginning. but we're kind of a unique tech company because we also went to market with a line of batteries we call battle worn batteries that we put out into the rv space, into the marine space to

basically replace lead acid batteries. that strategy went really well, and it basically financed our ability to develop the manufacturing processes. and now we're ready to deploy these manufacturing processes to produce solid state storage cells. so this is something that really doesn't exist yet, and it's something that we feel is going to revolutionize how we stabilize the grid to allow for more intermittency and a more solid grid. and we intend to continue to manufacture and mine and help the state and the country grow the infrastructure so that we are not so dependent on international sources. liz: now, when i look at what's happening in bolivia, this gets a little disconcerting because if you look back to china specifically going into africa where they saw really rich sources of different, you know, whether it was metals or some type of chemicals that they could extract or, you know,

really important mining items that they decided i'm going to -- we're going to go into africa and we are going to strike deals right and left and, oh, we'll pave roadways for you many exchange for if letting us mine in your countries. this looks like that kind of grab in bolivia, does it not? >> look, i don't think it's a new story. i mean, the mines in believe ya have been open for a while and typically dominated by chinese, chinese sources. so it's something that, certainly, it highlights the need for us to grow our domestic infrastructure faster. but that's what we're doing. and, you know, hopefully we're able to accelerate that growth. as i said, there's a lot of lithium here. and we are developing the technology to mine the lithium, to purify the lithium, to produce lithium materials and, ultimately, to make the cells here. and, you know, it's a, it's a

task for acceleration. and dragonfly energy is certainly in the middle of that. we're working as hard as we can, and we would love to see manufacturing grow here in the united states. liz: well, you are jumping 26% right now. nice move. your stock's last price was $9.58. we'll watch it. and good for you for going into nevada. i just hope that the administering allows the extraction of -- administration allows the extraction of lithium without slapping too many restrictions, regulatory moves on it. that becomes a problem, certainly, if we need to get it versus china. thank you, denis, good to see you. >> thanks for having me on. liz: both our countdown closer and charlie gasparino focusing on jp morgan today -- jpmorgan today. gasparino on ceo jamie dimon's guy dance for investors when it comes to environmental, social and governance mandates. wait until you hear what he just

said, that's next. closing bell, 14 minutes away. we're coming right back. look at the dow, up 62 the 6 points right now -- 626 points right now. ♪ ♪ flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. ♪ what will you do? ♪ what will you change? ♪ will you make something better? ♪ will you create something entirely new? ♪ our dell technologies advisors provide you with the tools and expertise you need to do incredible things. because we believe there's an innovator in all of us.

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♪. liz: big rally going on. the dow is up 602 points. last week he was warning of economic hurricanes coming but today, jpmorgan ceo jamie dimon apparently has a new worry. charlie gasparino is hearing of jamie's new ajita? what is it? >> over esg. let me unpack this a little bit. a lot has been going on by jamie dimon and comments he made by environmental government edicts, whether they are carried too far. he gave a fireside chat, essentially the u.s. is disarming itself on its economic policy by allowing esg to dictate a rollback of drilling for oil. he says, he was saying this is a real problem for the world. problem for the economy. so i went back and said, asked some people around him who know him, who have to deal with him on a daily basis, what is real belief on esg? jpmorgan was a big believer in

esg. here is how they put it. the context is interesting. they remind me jamie always has been a democrat. he considers himself a liberal but here is where it gets interesting. he is growing increasingly concerned that radical progressives are dictating corporate policies essentially through the es g-man dates. that it is hurting the nation's economic policy. that causing them to pull back. and what he is really, what is really interesting, liz, is this, as you know, a lot of esg stuff votes on corporate

governance issues. they're mimicked by investors through what is known as these proxy solicitation firms, iss. there is a couple of them out there. dimon is basically telling people that those firms should be ditched. they should not, investors should not rely on them to cast their votes, particularly on these types of issues, because it is just, it is essentially contracting out one of the most important corporate governance decision as big investor needs to make, that is on the various issues if you own stock, blackrock owns a lot of stock in exxon, you don't want, you don't want iss or some proxy solicitation firm leaning you progressively to the left. i guess that is a little play on words but you don't want them calling the shots. so what jamie dimon is worried, liz, rad cool progressives have essentially taken over the esg movement. it is beyond what it began as

and it is really hurting the nation's economic policy. i will say this, wall street norms, which were norms, when they get challenged like someone like dimon then they change. i think that is what you have here. you're going to see in my view other ceos come out to say this has gone too far. we're telling oil companies not to drill and forcing us to go hat in hand to venezuela and saudi arabia, what is that? you will see this not becoming not just a political issue particularly if the republicans take congress but i think the ceos of big firms will come out to say we've gone too far on this. jamie will lead the charge more or less. back to you. liz: you know us. we don't often throw our opinion in here but it should simply be a dollar vote. if investors feel that it is good business, and they want to go with this fund or this company because of their opinion on this, fine but to have the isss of the world start putting out all this information

and guiding it in that way, that i get. >> right. liz: i get that. but if you talk to paul tudor jones his belief esg done properly makes money. so it depends. >> we can debate that. liz: debate it with him. that is what he says. he is the billionaire. >> jamie dimon said most investors don't give a you know what about esg. he did say that in that same speech. we can debate whether it works or not. i will say this, this is politicized, when jamie dimon a liberal democrat says it has been politicized you know it has been politicized. liz: charlie, thank you very much. mr. gasparino could not make it into the studio. we need him here in studio so i can fight with him. closing bell, we're four minutes away. take a look at the markets. the nasdaq, really extended the muscle here up 3.3%. russell up 3%. s&p up 6%. the dow up 1.9%.

folks can we rewind a few minutes ago? we had dragonfly ceo dennis ferris on. we did an interview with lithium manufacturer. it was up nine percent. it surged up 27% before being halted for volatility. the stock is still paused. we want to let you know that. draganfly energy, lithium-ion battery company is now halted, up 27% before that happened. goldman sachs set to report earnings tomorrow morning. ahead of that report, the firm plans to fold the biggest businesses into three divisions. one unit will be investment banking. the next will be wealth management and a third division will house transaction banking. while goldman reshuffles our countdown closer is focused on another investment bank. that would be michael binger of

gradient, jpmorgan. you know, i get it. i think that is really interesting but goldman is a player, is it not? >> yeah, i would say goldman is a player too but i mean we haven't seen goldman yet and they rely a lot more on investment banking than jpmorgan does. i like jpmorgan. i mean you were just talking about jpmorgan and he has been pretty negative out there. then he reports the quarter and it's a slam dunk quarter. it is very good. liz: true. >> i still think you can buy one of the best financials on the street, less than nine times earnings. you get a very strong 3.6% dividend yield. i like jpmorgan right here. not saying that goldman may not be a good buy. liz: that is so crazy. the pe is nine. folks that is unbelievably cheap. >> i agree. i mean it is well below its historical averages. banks also trade on discounts or premiums to book value. liz: yes. >> i think book value going

forward regardless how you slice it, nine times is pretty cheap. liz: just checking morgan stanley's pe is 11. i just want to check bank of america because they did beat on both the top and bottom line. they have a pe just over 10. what else do you like because there is the discussion about inflation? we had ken fisher at the top of the show. he says the fed needs to let the snake of the economy, snake of u.s. economy digest the squirrel of the nation. it killed and needs to digest it and fed sit on its hands. do you agree? >> i don't agree with that. i think we need to have a couple more rate increases but i think the market is really -- stocks have already priced in two 75-basis point rate increases. what if we have a 75 and maybe a 50? i think the market would applaud that and the pivot would shift toward earnings which happens to be pretty good especially in

financials. another name i like, think about target right now. target was the first one to come out saying we have a inventory problem. my belief they will be the first ones to come out looking better from the inventory correction. target has a broad base of staples which should hold up if we have a consumer slowdown and its trading a lot cheaper to walmart which i think is unwarranted. i think target is also a good buy. liz: michael good to see you on a monday. on any day. thank you, michael binger, my friend. markets rally to start the week. we remind you goldman sachs tomorrow. [closing bell rings] is a huge earnings week, netflix, so many important names we talk on this network. "kudlow" is next. that will do it for "the claman countdown." as always thank you fortuning in. we'll see you tomorrow ♪. larry: hello, folks, welcome to

"kudi'