trsactio that ocrred since read tt sentce, and nsler admi he wa der stf dobusine.mentss e he's gng to haved whe -- aholeot more to tho annual nes, and countality.have indidual needed for a very long te. the publ hasost a loof faith the stem. it'sair, it's ununvel playing fi a it'time for ecks a timfor them to start tting peop a make th thing bette we'rin difcult marke lot of people e ging u thwing ithe tol, they were alrey on t cp, andhis stufdoes n help. aman.l you ws lp, li [lauter] you kn that y. li i coun't do mh yeerday,'ll te y-- [lghter] chles: none cadonythin and yoknowha crles?d o

as we ter the final ur of tre,nvestore sti easine froyestery's the dos kindf ing it re, here abo 2pointst the t the s&p, nasrussell arstill theed are, e nasdaqown about 106 ints e russok imighthe p down turn posite, we'lle wahing it tick by tk. 55 p.m. eastn yestday, righbefore t fed annoued s xtrate he of the year a r, thdow was upbout en stas the clone ller coaste ips ather 2er, e blue poinrs, but th0 minutes later federal reserve chair jay powell started taking questions. his stern message that it would

be dangerous to stop the rate tightening cycle too early, and that put a damper on the action, and by 3:09 p.m. eastern all 400 points of gains were gone. that was when a reporter erroneously told powell the bulls were actually happy. >> reporter: looks like stock and bond markets are reacting positively to your announcement so far. is that something you wanted to see? is that a problem or what, how that might affect your future policy, to see this positive reaction. >> you know, we're not, we're not targeting any one or two particular things, you know? our message should be -- what i'm trying to do is make sure that our message is clear, which is that we think we have a ways to go. i would also say it's premature to discuss pausing, and it's not something that we're thinking er tadow n a wewa tgo. li gi at iof

ged.wets tinl of h hmen reho predyng ofnd s dpe0 poanth fit tp st 'salofhasts just can't quit tech stocks even though the burn keeps coming. what do we mean? according to fidelity, yesterday the most popular buys among its customers were amazon, the qqqs, alphabet and apple. let's look at those same stocks. they're in the red. and not only that, amazon and alphabet are hitting fresh 52-week lows. amazon, by the way, is pausing few corporate hires. even good news is not good news. both kellogg and roku beat on

numbers but their down beat holiday forecasts eclipsing it. roku down 3.3 3%. tomorrow the big october jobs report comes out, economists expect the u.s. economy added 200,000 jobs and that unemployment rate will come in at about 3.6% versus september's 3.5%. but is it a huge mistake to trade ahead of big news and big numbers? to the floor show, joining me now scott bauer and ryan payne. scott bauer, courageous. i mean, this -- dangerous. this looks like a dangerous market. investors pile in even though the online broker's not profitable, but kellogg and roku are, and they're punished. is it too dangerous to buy right and d d d d ococococ% % % t lzi

sosososo, , , a a a a a apapapat dododo i i i alalalalalal i i io.o.o.o. itakakakakakakakhampmpmpmpmp h m cococococolylylyly r r rfifififo yoyoyoyou u u kekekekekekeked r, pepepepepepenhnhnhhahahahahahait isisisisthththavavavavavavavil inininin, , , e e e e e lylylyla uhuhuhuhuhuhuhhiweweweweweweweoe dedederenvnvnvblblblblbly y y y i i i i alalalththththththmememi alalalititititititit 100% race.

risk-defined. liz: we're about 17 hours away from the jobs report for the month of october. inininhahahahahahatatatavavavavu don't get good prices are good news. and i think right now that's what we're seeing. the fed yesterday, i said, you know, i would never invite jay powell to a party because he's a buzzkill. [laughter] he's always a buzzkill. and that's what we saw yesterday. but markets are holding up remarkably well. the dow's only down 20% for the year now, and if you get outside of ec, most sectors are in a correction, not a bear market. liz: to the point about mega-tech, you've got to tell me right now, scott, are you in any of that? do you like any of it? because day after day we are seeing new 52-week lows and whether it's microsoft or amazon or google, there are a whole

one. of them here, even roku was -- yeah, hit a 52-week low, but it's well off that low to -- of z: which names?eitar en put it out on the table here. thich names s s s s h h h hono nononono d d dprprprprprpr 5 5 s onononz:z:z:z:z:z:z:n n n n ckck f f f fyeyeyei i i i i i i ou i ababababtototosisisisisisisidge nononononononothththththththks . vevevevenononoatatatatatat m m h

but, again, i always know my maximum risk. but those three names specifically, liz, apple, microsoft, amazon, i think those are the ones that really have an ability not to gain 20, 30% from here before the end of the year, but to recover what they lost over thest last several weeks and get back to where we were probably eight weeks ago. i really think those three have the opportunity.yayayayayayayaoo mamamamamaayayayayy y y s s s s exexexexexexindididididididi a t t th h h h h h h 'sffioioioin ououououatatat w w w w wotototot ininininininedetetetetetetet enenent t t t t t t u tetetetete scscscsc s s stttttttttttttthe h

e asasasasasasash ececececectttt rororo b b b b b b a l l l l l f cococos s s s s s ing g g g g ig t t t tt t t mpmpmpmpmpthththtt anananananan's..... boboboinininininininir g g g g e arararargogogog to slow. they can't go up forever.

liz: volatility has been a really crazy one to also gauge, right, scott? and the vix right now, i would so imagine it would have been higher. it's down about 1.6%. what's going on there? il a ll rntt1.lyovdtomeug, ix hialotagwh wthnge id ctoil mot ti bovi the ceeh ado has owmisobut ofaj nhiacght ite

back above 30 right now. liz: yeah. for those of you on xm sirius driving, it's at 25.45. ryan, scott, good to have you both. look at -- okay, this is really interesting. while we were speaking, the dow was popping in and out of positive territory. fi.t hoionduld bcuonoliedtf coi fihi fusexe, mcksent, has some very point advice next. and we want to know, how hard is it to get rid of manager like the n-word on twitter -- something like the n-word on twitter? we are going to ask zack. the closing bell, 49 minutes away, and we're down about 8 points. at the top of the show, we were

up just a few points. "the claman countdown" is coming right back, don't go away. ♪ i'd like to thank our sponsor liberty mutual. they customize your car insurance, so you only pay for what you need. contestants ready? go! only pay for what you need. jingle: liberty. liberty. liberty. liberty. your record label is taking off. but so is your sound engineer. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire

first psoriasis, then psoriatic arthritis. even walking was tough. i had to do something. i started cosentyx®. cosentyx can help you move, look, and feel better... by treating the multiple symptoms

of psoriatic arthritis. don't use if you're allergic to cosentyx. before starting...get checked for tuberculosis. an increased risk of infections some serious... and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms... or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms... develop or worsen. serious allergic reactions may occur. watch me. liz: here we to go, we're still in the red, not by much. but what did we say at the temperature of the hour? that the markets are in a battle tooth and nail to try and move higher. the s&p lower by 20, the nasdaq dropping 124 points. peloton has been on an absolutely wild ride. you can look at the intraday chart on your screen. first, it was plummeting, right? falling 10% this morning. but now recovering and has now punched into positiver story by 3%. the exercise equipment maker

posted wider than expected loss for its fiscal first quarter, also forecasting weak holiday revenues saying q4 sales could be about 37% lower than last year. but lives why maybe -- here's why maybe the stock is in the green. ceo barry mccarthy did say the company is now done with layoffs and, quote, the ship was turning. i thinkable he meant the spin bike was turning. e-commerce stocks are moving higher in this final hour. amazon is plummeting, but look at etsy, reporting third quarter earnings that beat analyst estimates. the online crafts marketplace posted positive guidance for the fourth quarter. and ebay is up 2.33% after coming in with better than etd ard inits erly are reven ssp tho se bn ofhemee

pl, eep d shha0 verar0%. fothtte ct, ow13anecthars ve rbinta9 57. right now it's at $46.10. you might think that just because you own a certain stock but that it's an etf that you don't have a voting voice, but today blackrock's larry fink informing his clients he's expanding the shareholder voting rights program, the world's largest asset manager rolled out a year ago because investors are flooding toward it. they hike it. charlie breaks it next on how that's sitting with anti-esg

investors who have exited the fink funds over at blackrock. closing bell 42 minutes away. dow is still down about 2 points, punching in and out of positive territory. this is a horse race, folks. ♪ ♪

at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪ i'm gonna earn 3% on dining including takeout with chase freedom unlimited. that's a lot of cash back. are you gonna stop me? uh-oh... i'm almost there... too late! boom! earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours.

♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs.

now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. ♪ liz: it's been, what, less than a week since elon musk assumed ownership of twitter, and since then the social media company

has been in a constant state of drama and upheaval. a report today from bloomberg now saying as soon as tomorrow elon musk plans to cut 50% of the company's work force. that works out to about 3,700 jobs. on day one musk fired some of the company's topics ecs. that's his right, he's the new owner, but he has set the twitter verse ablaze by unveiling plans to charge $8 a month for users to be verified with a blue check. that triggered a fierce debate and elon saying, okay, you can keep change, but it'll cost you $8. musk may have no other choice though because as ads are quickly being subtracted from twitter, last week amid a 500% increases in racial slurs on the site, general motors said it was pausing paid advertising. and today there were all kinds of reports that had been swirling around that makeup giant loreal could be next to do

so, although they have denied the report saying it has not made any decision yet, but interpublic has recommended to its clients to suspend all paid advertising on twitter with for at least a week. that includes mattel, spotify, nintendo, j&j, coca-cola. all right: so, you know, how has media, who handles advertising for adidas, has also suggest suggested clients pause twitter ads. so can elon get back in advertisers' good graces, or has he pigeon holed himself? joining me now, zack rosen, the can cofounder and ceo of pantheon, powering thousands of web sites and works closely with marketing teams who are looking to increase their digital reach to quality audiences x. to call elon's first few days rocky, kind of an understatement, is it not? >> oh, man. he walked in with a billion

dollars of debt service, which is a tight rope, took one step and fell right off, and i think he lit the tight rope on fire on his way down. liz: well, yeah. i mean, what you're talking about is he started losing advertisers. racial epithets, anti-semitic posts suddenly exploded, elon himself retweeted a fake conspiracy theory about paul pelosi, then he had to take that back, right? he deleted it. but has he already lost, and i'm talking about technology, the technological control of twitter, and how does he get it back? >> well, i think elon musk understands by now just how much of a relationship-driven business he has at twitter. i mean, these are brand advertisers. they are incredibly sensitive to these kinds of actions. and the technology teams at twitter, you know, through thousands of folks that have worked on these problems for, you know, over a decade, these are incredibly hard problems that really can't be resolved within a couple days or weeks of effort. liz: bots. let's talk about bots.

how hard is it really to put up the wall against bots that are trying to get in and have succeeded? >> look, bots are a massive problem for the entire digital marketing industry. google, facebook, twitter, they do not want to talk about bots. and what this comes down to is, you know, they have an advertising business. and if you're an advertiser, you really want to know that your brand is being put in front of real humans. liz: right. >> and bots are fake humans. and these advertising platforms, including twitter, have wrestled for a long time on being able to make sure that their advertising products reach real humans in the end, and they don't have a handle on this. it's because it's a real game of cat and mouse, and after decades of effort they're still really in battle. liz: you work with web sites. you do i.t. solutions. how difficult is it to put up the digital electrified fence that will repel anybody who's

fake and trying to get in to a site? >> it's incredibly difficult. and to fully solve this problem is probably impossible because all of the measures you're going to take, you know, the other folks on the other side are going to innovate as well, and you'll be locked in this cat and mouse game forever. liz: well, maybe then the right answer is to go with verification and, i mean, dare i say, only have verified users? and then how do you make sure that users who are claiming they're verified are truly verified? >> that's essentially the pear rah docks elon has at -- peril -- paradocks that elon has at twitterment those are exactly the things that freak out these advertisers. you know, advertisers, these are brand advertisers. they're incredibly sensitive to, you know, the environment their brand is portrayed in. and, by the way, the ads they're

buying, they actually show up as tweets, right? they're part of this bigger social conversation. and if so if you're a brand advertiser, the ceo of one of these companies, the last thing in the world you want to do is tarnish your brand. that's the one thing you cannot do, and that's exactly why they're so skittish at the moment, and they're looking for other platforms. liz: well, yesterday elon musk met with, via zoom or via, you know, remote with quite a few groups like the naacp and the anti-defamation league to talk about what are you going to do to. and he was supposedly cordial. he made some verbal promises by saying that he would put together the blue ribbon commissions to make sure this stuff wouldn't get out there. by the way, i looked on twitter, kanye's back on. so he has been allowed back on. he tweeted just a picture kyrie irving, basketball player from the nets, who had retweeted an anti-semitic comment and

something about an anti-semitic film. and, again, free speech, hate speech, some people really just want to go on twitter and be educated and to learn different things and to be reached by certain advertisers, right? i mean, can he solve this? what must he do in this first week to at least get his arms around it? >> this is why i think that twitter in many ways is the poison chalice of technology companies. everyone has wanted to own this thing, and it always ends in tears. how many ceos has twitter had since the beginning? and it's because it's a company that owns paradobbses. -- paradox. the exactly the things that brand advertisers run to get away from. liz: and he has been tweeting quite a bit, hour by hour, sometimes the middle of night depending on what coast he's on, and that makes you wonder, is he focusing on tesla and space item x that's taking a lot of his time. good to see you, zack, thank you so much. >> thank you.

liz: blackrock chairman and ceo larry fink says a new era of shareholder democracy is coming as the world's largest money manager ushers in a plan to let investors have a say on major corporate governance issues, voting. joining now with moreally gasparino. >> i just ask one question about twitter? why is it that amazon and all these platforms that you order from have gotten ways to authenticate the person that's making the order and twitter can't do that? liz: well, maybe elon's getting rid of a lot of people -- >> i'm just saying -- [inaudible conversations] you put a credit card number in, you put an address in, you put your name n and, you know, i mean, it's not perfect, but it works pretty seamlessly -- liz: well, nobody's paying. that's the thing. >> now you're going to have to pay and make sure it's really you, and all of a sudden, bingo, you get rid of a lot of the

bots. liz: true. it's been free for so long though, and people are already saying i'm not going to pay that. $8 a month. come on. liz: would you pay? >> yeah. how much do you spend on a starbucks coffee? liz: that's his comparison. >> it's so true. what do you spend $8 on? liz: right, but i get juiced up by a starbucks coffee. >> people get juiced up by coffee, but just saying that -- liz: larry fink. >> larry gets a bum rap, i think, especially on es g-man kates. i think it's a bad rap because when we've had him on, you and i have spoken with him, he's very moderate. if you read his writings about esg, he thinks it's a logical way to go, it should be a transition. be that as it may, his company is feeling the heat particularly from republicans in congress and treasurers around the country. they're innovating a very interesting thing which i think

will blunt some of that. part of the esg sort of mantra is that the big asset managers vote, and they vote for their shareholders on these corporation measures that provoters, esg -- promote. he's saying we allow investors in the back rock funds to decide. liz: they decide. >> they can help decide. a lot of these investors are going to rely, and who knows how many will participate in this. some will rely on the traditional measures that are controversial like the proxy advisers, iss s and you name it, but it is interesting. people think they're skewed to positive esg. it is interesting. and it comes at a difficult time for the company. again, liz, i will tell you i think he gets a bad rap are. i think when you read his writings, he's much more moderate hand he's being portrayed by republicans in congress and a lot of other people. be that as it may, blackrock is feeling some of the heat

here. i mean, treasurers are pulling money out of blackrock -- liz: and it's his right to say, bye. >> he's not saying bye. my view is what he's doing is getting his word out there. part of his word is this plan, which has been in effect, by the way, for a while. liz: he launched it a year ago, and it's growing. >> it's growing is and he's expanding it. kudos to him. it's a smart move. it's an innovative move, and, you know, here's one thing i will say, liz, and then, you know, and i'll leave it at this, you know, there's not a better risk manager on wall street than him. i don't think people should be alienating this guy right now as we go into very, very treacherous market territory. i mean, he, he's been through 'em all. he's protected his fund, he's done very well. probably got in over his skis a bit on esg, although if you read his writings -- liz: he says it'll take five

decades to transition to -- >> is that logical? i don't think we're going all electric in five decades either, but that's not how he's being portrayed. he's being portrayed as a radical on this. and if you look at some of his commentary about es g-man kates from the securities and exchange commission, again, he takes issue with them. so that's my two cents on the story. it's interesting. we'll probably have him on soon to talk about this. liz: yes. he's always welcome. and, by the way, clients with $452 billion have taken part -- >> now, you remember he does have $7 trillion -- liz: it's a start. >> yeah, i know. liz: he's a big thinker. of course all the state treasurers that pull money and withdrew, free world. you can do whatever you want, is and he can do whatever he want withs. that's the way it should be in a capitalist society. charlie, thank you very much. luminar's lidar tapping into the matrix to make self-driving cars safer. the world's youngest self-made

billionaire is here next to reveal the next big step forward. luminar founder and see owe austin russell on where the company stands right now in making self-driving very, very sad avucl can ns tme smsi -- na tin th so isevhoerre taayo once do yfrominevery penny invested in a business to then running the whole she bang successfully? steve reveals how he persisted, my latest episode of everyone talks to liz podcast. get it on apple, google, spotify, wherever you get youred podcasts. okay, the dow's a little more comfortably above the flat line.

it's gaining 20 points.. it's gaining 20 points.. ♪na ♪nc of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com the day you get your clearchoice dental implants makes every day... a "let's dig in" day... mm. ...a "chow down" day... a "take a big bite" day... a "perfectly delicious" day... - mm. [ chuckles ] - ...a "love my new teeth" day. because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation.

what should the future deliver? (music) progress... (music) ...innovation... (music) ...discovery? or simply stability... ...security... ...protection? you shouldn't have to choose. (music) gold. your strategic advantage. (music) visit goldhub.com.

♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq some things are good to know. like, where to find the cheapest gas in town. and which supermarket gives you the most bang for your buck. something else that's good to know? if you have medicare and medicaid, you may be able to get more healthcare benefits through a humana medicare advantage dual-eligible special needs plan. call now and speak to a licensed humana sales agent to see if you qualify. depending on the plan you choose, you could have your doctor, hospital, and

prescription drug coverage in one convenient plan. from humana, a company with over 60 years of experience in the healthcare industry. you'll have lots of doctors and specialists to choose from. and, if you have medicare and medicaid, a humana plan may give you other important benefits. depending on where you live, they could include coverage for dental, with two free cleanings a year. plus, dentures, fillings, crowns and more. vision, including eye exams and eyeglasses. and hearing coverage, including hearing tests and hearing aids. you may also get rides to plan-approved locations. home-delivered meals after an in-patient hospital stay. an allowance of up to one thousand eight hundred dollars a year to help pay for essentials like groceries, rent and utilities. even an allowance for health and wellness items. plus, if you qualify, you could pay nothing for covered prescriptions all year long. even the brand name ones. and zero dollars for routine vaccines, including shingles, at in-network retail

pharmacies. so, if you want more from medicare, call now to speak with a licensed humana sales agent. learn about humana plans that could give you more healthcare benefits, including coverage for prescription drugs, dental care, eye exams and glasses, hearing aids, and more. a licensed humana sales agent will walk you through your options, answer any questions you have and, if you're eligible, help you enroll over the phone. call today, and we'll also send this free guide. humana. a more human way to healthcare.

liz: swedish ev maker pollstar says it's bringing the matrix to reality with its pollstar 3 suv. the ceo said its lidar system could save your life the same way bullet time saved neo in the movie, the matrix, which is what you're seeing right here. listen to what he said. >> do you remember bullet time? just like in the famous bullet time scene from the matrix film we must slow down time to understand to the extreme millisecond what is happening when the safety systems perform their magic. neo's reaction speed to escape the flying bullets of agent smith is what saved his life. and it's similar in the car.

liz: but neo had to take a blue or a red pill, remember that? starting mid 2023 you can buy the car with an additional package that adds lidar, or light detection and ranging sensors, intended to, quote, meid taiteund inll tquardrsts mn >> yxa, owred e noateas beo th, ilg r-edesxt wtodoee l cto nvol

ano ll.nng m he i i bthand tavchthed y ot as thngvafor rst ndis weter,r hahif ndorconed g,t g ns vanba

auusasand t e omon.rep sos th htee hu ibnd e tno wthtymatos mafeer. li cree ultoob, stthth yu 'sblll ll >>eaece t's ancoe:al, ked td

e.enor oreaytedicos.t rey esry, raseo to tbe pr tlllvitrtn s,n of nat t'slllc cluc mtotollthheincooar

thhyink e e of whe hahoknag na teot the fie oun. li.d cdo'ro or cts ededomesp pn ared tkn th hheh itldenore y ea a0 n,hi

?auahtl so we have more than enough capital to get towards that net profitability, and that's the key, is being able to -- so we're going to outline the specific timeline of how we're doing that and when since we really haven't had the opportunity to do that before by the upcoming luminar day that we're going to be hosting in orlando at our headquarters there too. but this is not like a crazy, long-term thing. this is still a relatively near-term thing. we have a unique opportunity because we're actually able to generate real business, real revenue and real profits. that's something that's obviously unique to luminar in this case versus the other related companies out there. so, yeah, we set out all of our targets, we're on track to meet or beat each of the key milestones that bev had along the way -- we've had along the way, we're on track to beat our raised guidance as well.

but, yeah, you know, it's crazy macro environment that apparently, you know, nothing makes a lot of sense. fortunately, we've been immune to a lot of those effects more generally when it comes to our core business. but from a capital market standpoint, obviously, it's, there's a lot of factors. liz: well, i want our viewers to know because i as a cal-berkeley graduate am very happy you dropped out of stanford to launch this company and do as well as you have. [laughter] thank you so much for joining us, austin, and we'll be watching the progression. >> yeah, absolutely. no, thanks, and thanks for having me. it's been great, always fun to talk. liz: anytime. president joe biden in the land of enhance chantment at this hour. he will be pitching in albuquerque just five days away from the midterm elections. we're about to get you the details live from the campaign trail. closing bell ringing in about 11 minutes, and now the dow has turned negative by a long, yeah, that's a pretty long stick, down

74 points. we are coming right back, don't go away. ♪ ♪

. . ♪ what will you do? will you make something better? create something new? our dell technologies advisors can provide you with the tools and expertise you need to bring out the innovator in you.

xfinity rewards is a program whose sole purpose is to say "thank you" with experiences big, small and once-in-a-lifetime. sometimes it's about cheering hard enough to shake the stadium! sometimes, it's as simple as movie night right here at home, on us. you mean the world to us. so we're bringing you closer to what you love. kinda like this. welcome to 30 rock! join xfinity rewards for free on the xfinity app today. our thanks, your rewards. when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again.

they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere. the secret to losing weight and keeping it off is managing insulin and glucose. golo takes a systematic approach to eating that focuses on optimizing insulin levels. we tackle the cause of weight gain, not just the symptom. when you have good metabolic health, weight loss is easy. i always thought it would be so difficult to lose weight, but with golo, it wasn't. the weight just fell off. i have people come up to me all the time and ask me, "does it really work?" and all i have to say is, "here i am. it works." my advice for everyone is to go with golo. it will release your fat and it will release you. liz: breaking news, president joe biden is about to step out

on stage on the campaign trail ahead of tuesday's midterm elections. the president right now in albuquerque at central new mexico commune college, promoting college loan forgiveness plan. the woman you have seen there back to school in her 30s, ended up saddled with lots of school debt. democrats make the final stand to maintain control of house and senate. reporter: that is christie sanchez. the president will be next. she will introduce the president. on the west coast thing to try to persuade democratic voters. he will skip over tight races going to new mexico, hopping over arizona going to southern california. the president focused the student debt relief package the president has been pushing. he directed the department of education to do that. right now the plan is being held up in court but the department of education is still accepting applications, just no money can go out the door. under this president no student with a government backed loan has been forced to make any

payments since president biden took office. democrats in tight races applaud the 400 billion-dollar taxpayer program. >> there are some who said he didn't go far enough. you know that comes with leadership. so there are always going to be those criticisms. for us and this legislation i want to keep the public, i want to keep the focus on the public service loan forgiveness program and our reforms to it through this new reward act. reporter: so the president is keeping his eye on the eighth circuit court of appeals to hand out the money this is the white house is looking at this as they're looking at higher interest rates. you see the president just taking the podium. the fed chairman saying there will be no pause in rate hikes in december or january. >> it's, it is very premature to be thinking about pausing. so people they hear lags think about pausing. very premature in my view to think about or be talking about pausing our rate hike.

we have a ways to go. our policy, we need ongoing rate hikes to get to the level of sufficiently restrictive -- reporter: that is what the president is looking at. the president goes on from here in new mexico to do political events in southern california. back to you, liz. liz: edward, thank you very much, edward lawrence from the white house. closing bell we're 3 1/2 minutes away. at the top of the show we replayed the exact moment yesterday when an ap reporter erroneously told fed chair powell that the markets were responding postively to the fed rate hikes which they were not. today's "countdown" closer was pointed about the moment. david kudla mainstay capital management this is when it all went south. jerome powell mistakenly heard that markets were higher, read a greatest read of hawkish comments in direct opposition to the fomc statement earlier.

david kudla. all bets are off. crazy things are happening in the markets. tell me exactly where you see an opportunity knowing that the fed and jay powell are very stern about continuing the rate hike path? >> yeah. he made it very clear that they are, liz, that they are going to continue to be aggressive on their rate hike path. so investors look around say where can you make money in this environment? where can you make money with rates going even higher? two-year note setting a new high in yield since 2007? one of the areas that we like is the insurers. they have consistent dividends, but most importantly they have a cash reserve to, that they need to pay out on their claims and that had a yield on it of near zero a year ago. and now that yield has continued to go up. some of these insurers, for every 100 basis points that

rates climb they're earning an extra billion in revenue because of this massive cash reserve that they have that they're not getting more after yield on. so allstate, aflac, progressive, metlife, all the insurers we think are a good opportunity. also we think it is important to look at small caps that have had relative outperformance to technology, that got hurt pretty bad recently and the broader s&p 500 f we look at the past month, small cap outperformed the s&p 500 by about 2 1/2%, the nasdaq by about 6%. look over three months, that outperformance is about 5% over the s&p 500 and about 10% over the nasdaq and small caps tend to be more recession resistance like some of the defenses. we like consumer staples. in this environment we just got to keep looking for places,

defensives, areas of value and areas where rising interest rate environment there is some opportunity for positive total return. liz: we've got about 30 seconds left. the behavior today in the markets, fighting tooth and nail to punch into positive territory. now the dow is down 131 points. doesn't look like they will make it here except for the transports. what is the message for the rest of the year that you have for investors? >> i think it's a matter of what the fed is going to do. we know we made it through earnings season pretty well in october. we'll be looking forward to fourth quarter earnings here coming up in january and february. for the rest of the year we have a jobs number tomorrow. expecting 205,000 jobs. [closing bell rings] and cpi next week which will determine the move for the fed. liz: david kudla, always great having you. major averages closing for the fourth day in a row. that with will do it for "the claman countdown." "kudlow is next.