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looking at ftx's international website. okay, see that red bar at the top after warning in the last hour, literally looking at the warning crypto customers should close out their positions, the banner changed before our eyes at around 2:23 p.m. eastern time to say, "ftx is currently unable to process withdrawals. we strongly advise against deposits of trx, and those are tokens, and those trades are disabled. now ftx's token, down more than 85% over just one week, is trading right now, at $3.68. bitcoin on the other hand, looking like the more legitimate play here, powering higher by 10 % to 17, 426 and in the past couple of hours, a fire hose of headlines spraying out related to ftx ceo sam bankman-fried's

admission that even he hears the death rattle for his crypto trading arm alameda. this in the wake of just a disastrous liquidity crunch over the weekend put ftx's viability in peril, a scramble is on to find a buyer for ftx's non-u.s. arm. a real challenge because reports are out that bankman-fried quietly used customer's deposits to fund a rash of deals but if you look at u.s. crypto exchange coinbase, we've got shares jumping about 9% at the moment after the company clarified only a small amount of exposure to ftx, and none to alameda. coming up at 3:30 p.m. eastern time we have the chief financial officer of coinbase on potential for overall contagion let's say it spreads to ftx usa and we'll talk to her about how she is calming investors over at coinbase. all right, to the markets and this mega rally that has bulls showing no sign of fatigue as we

kickoff the final hour of trade. we are actually right now at session highs, both the s&p and the nasdaq having their best gain since april of 2020 look at the gains for the dow jones industrials up 1,092 points or more than 3%, if you look at the percentages for the s&p and the nasdaq, major s&p up 4.5%, the nasdaq up more than 6%. all right s&p, nasdaq, both are pushing into the green for the month and when you look as i said at those percentage gains the nasdaq still only scratches away at the year-to-date losses which still stand at about 30% but nonetheless this is a major move the likes of what we don't usually see for any of the major indices but the nasdaq in particular. all right the bulls kick down the door right at the open, on this , october's consumer inflation report which showed rising prices slowed more than expected, cooling off both month-over-month and year-over-year, that of course giving hope to investors that the federal reserve will ease up

on the interest rate hike gas pedal. there isn't any confirmation of that, but in response treasury yields taking a tremendous tumble. the two year yield, this is the most sensitive to fed policy , seeing biggest move. it is falling 28 basis points right now on track for the steepest one-day drop since september of 2008 that yield stands at 4.31%, 10 year yield dropping 26 basis points to 3.83%. no surprise on that cpi number the markets pressure valve is letting out some steam that's been building up over the past several months. the volatility index, the vix down 10% at the moment to 23, and we are looking at a three- month low there. we should look at sectors here, s&p all the major sectors are in the green, leading the top here, technology followed by real estate, consumer cyclicals, basic materials, and financials and you look at the bottom there even more defensive consumer staples and at least at the

moment energy, still in the green. meta let's look at that adding to gains after yesterday's confirmation of mass layoffs, 11,000 people to lose their jobs right now we have meta platforms up 10.5% and week-to-date the social media company is up about 20%, and got to look at amazon because after nearly daily drops to fresh lows, amazon is popping more than 11%. the e-commerce and tech putting every one of its units on notice saying it has now launched a cost cutting review. so with those mixed messages in there, and we mix this all up, let's get right to our floor show joining me now from the floor of the new york stock exchange is trader john corpina, and luke tilley. the bears are getting hit with a wrecking ball but let's call it 55 minutes left before the closing bell are you seeing signs of selling into this rally in the final hour? >> liz, you know, you mentioned it on the lead-in. mixed messages and i've said

before we've talked about this. these markets are so fragile and we could say it on the way down and we could also say it on the way up. look at the cpi, look at the print that we got today. yes it was better-than-expected. should we be getting the reaction that we're getting that we're seeing right now? i don't think we should. it's just showing us how easily this market can move on any data , even though important data that we do see. we've opened high, we continue to trade higher, it's not a real ton of activity. i'm not convinced that this is where we should be, especially based off of yesterday's sell-off. heading into the close right now , i'm not seeing selling, i'm not seeing standing up, because i don't think anybody is really convinced as to where we are at this point. we normally have seen as we get towards the end of the week a little bit of risk taking that comes out of our markets. i'm not sure if we'll see a significant amount of that tomorrow, but what i do think is all about looking forward, right retail sales next week, housing numbers next week, the fed said they are going to be data dependent. these are two key factors they will be looking out for. that will give us an indication

of how the rest of this month is going to go, but once again, i'm not really convinced that this is where we should be. the vix is, i think there's a big disconnect with the volatility that we see in the markets and where the vix is something just doesn't smell right but for today we'll take it. liz: okay and by the way you'd said earlier that the resistance level at the top was 3,900 for the s&p, it is blasted through that. we are at session highs for the s&p, 3,932 or so, i'm keeping an eye on this moment-by -moment. luke tilley, john corpina just made a great point. he's not sure that this is really commensurate with the moment where we know that the fed will stop and in fact we actually got confirmation earlier. mary daily of the san francisco fed making headlines saying in essence that the cpi print is really lovely. the fact that it came down, but 7.7% inflation is not a victory when it comes to trying to sleigh inflation.

what do you think about this number, and what do you think is going to happen when the fed meets again in december? >> yeah, liz, i think that you put it best when you were talking about the market reaction we're just barely into positive for the month, and of course, this month has included the fomc meeting last week, when chair powell came out and said he felt they would have to hike rates even higher than they had previously said, because they were frustrated by a lot of items that were still not coming down with inflation. i think this mornings report you basically have some confirmation that monetary policy and higher interest rates are suppressing inflation and so what have you done? you've had the market basically return to or maybe just a little bit above where it was before last weeks fomc meeting, and i think mary daily is right. the fed members they do not want to have the market thinking they are going to cut rates. they follow through with the hikes to get to 450 at the end of this year, and then we'll just be watching inflation to see where it goes from here, liz liz: yeah, i want to just make sure as we look through some of the leaders and the laggards that everybody hears these headlines of what mary daily who

by the way it's not a voting member said. she said the time is actually now to step down on rate hike pace and that of course would mean we would see a 50 not 75 basis point hike in interest rates, as the fed continues to try and tamp down on inflation. she said pausing rate hikes is not a subject of discussion. so anybody gets truly excited about what might happen, she made it pretty clear, again not a voting member. john corpina what i'm looking at when i look at sector stocks everything is higher. there maybe one or two individual names on the screen that are falling but it's really rare here. where is the leadership that you see on the floor? >> you talked about technology leading today and go back to yesterday. that was the one leading the laggards. that was the one getting hit the hardest so we're just going to continue to see this cycle and the swing. once again i think as we have to start looking forward to next week. if we start to get indications

that the markets are strong, conviction is coming back, in a short period, retail has been hit, i know that's not been a favorable sector but with the numbers coming out next week that might be a quick short-term play to look at. liz: okay, again, now we have another session high for the dow jones industrials and that be 1,115 and climbing. why did we switch out the bug to the nasdaq from the dow? because the nasdaq as far as percentages are concerned is a massive winner here up 6.5% at the moment. russel 2,000 not bad either the small and mid caps up 5.6%. luke let me just finish up by simply asking, where are the real strengths in the u.s. economy now and what's at i would say what's vulnerable >> yeah, i think we have some very strong tracking for the consumer and for capex as we finish out this year, but the risks are definitely going into next year. the fed has been talking about this and we are watching financial conditions, real interest rates have moved up

significantly overall financial conditions have moved up significantly, and those will suppress growth, so what we are concerned about as we look into next year is to see those lagged impacts and see if it effects consumers and actually pushes them a little bit into the negative, and we know that consumer lending, sorry bank lending has tightened up and that could have a suppressing impact on capex next year, so the impact of these hikes. liz: one quick mention because yes mortgage rates have certainly spiked. every single one of the home builders i look at is higher hovnania nfl up 24%, lenn ar up 13% these are really big gains, pulte up 13% we'll be watching this and more, luke and john thank you as always, big move here, and i do want to just tell you with the dow up now about 1,136, how is "the black panther" sequal wa konda forever going to handle the unexpected death of original star chadwick boseman,

as audiences head to cinemas to find out tonight. we talk to movie theatre chain amc ceo adam aron next about what the marvel release means for the box office plus the 202m video conference, coming to a theatre near you, yes, could that be a new source of revenue for amc? closing bell 49 minutes away, we do have as we said the dow stronger but we're keeping the nasdaq up as the lower right hand bug here up 685 points for the nasdaq, it's a gain of 6.6% and climbing stay tuned, big rally day, amc, lots of headlines, crypto and more coming right back. with my hectic life you'd think retirement would be the last thing on my mind. thankfully, voya provides comprehensive solutions and shows me how to get the most out of my workplace benefits. voya helps me feel like i've got it all under control. voya. well planned.

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liz: huge market rally here, dow up 1,141 points, the sequal to black pap theory so far is number one in all markets in the world ahead of the u.s. opening in 4,200 theaters tonight. both disney and amc theatre shares are moving higher disney is up 3% big game for amc 18% higher and amc's new york city screening just started 16 minutes ago in lincoln square. now the shares are speaking as we speak because sneak peak screenings are hitting the screens as we say this afternoon. tonight, they will go all in. let's bring in amc ceo adam aron , and get some expectations here. not only, adam, for "the black panther" sequal but for the holiday movie going season but how are amc ticket sales trending for black panther >> well first, liz, always nice to be with you. liz: thanks. >> apparently with our stock moving 18% today you're a good luck charm so i think if you can

guarantee me at 18% rise in amc stock i'd come back on the "clayman countdown" tomorrow and monday and tuesday. liz: why not? >> and wednesday, why not? as for movies, you know, i want to take you back in time about a year when spiderman no way home was a monster hit. liz: yeah. >> and memorial day weekend when "top gun": maverick came out and grossed more than $1.6 million around the world but movie going the last couple months was tight. the titles released were few and far between in august and september, but here we are, the christmas movie season has begun. the sequal to black panther, black panther wakanda forever is the second biggest movie of the year second only to "top gun" maverick. our advanced bookings for black panther wakanda forever are like frothy, they are robust. this is going to be a monstrous hit.

people have seen the movie are telling us that it's extremely well done. we think it's word of mouth is going to be spectacular. our hats off to disney but this is just the beginning of a very strong six-week holiday run remember, avatar 2, the way of water is coming out in mid- december. damian's babylon is coming out, disney's strange world is coming out and there are a lot of movie s that will be big numbers in our theaters between now and new years day. liz: when you talk about the movie titles coming out there to generate more ticket sales i would agree. don't worry darling, where the crawdads sing, black adam, they have left people wanting more. what's going on with the film companies that's supposed to churn this stuff out? >> so a buddy of mine once said to me, like you don't make the movies you just show the movies so it's true. like we are in partnership with all of the major hollywood studios. they're the ones who make the

product that we so lovingly show in our theaters and what we've seen in the last few months is really covid at play. it tacks a good long two years, two years plus to make a major motion picture and all those production delays in 2020 and 2021 because of covid have slowed down the releases of theatrical titles now, but i speak to studio chiefs like every m of my life and i can tell you that they are scrambl ing to get more movie titles out, released, in theaters. they certainly saw that in "top gun" maverick they can make a lot of money when they release movies in our theaters, and what we're hearing is that while the movie count in 2022 so far has been down, 20-30%, as we look ahead to 2023, the number of movies that are going to be

released theatrical is going way up and that'll also be true in 2024 so having more good movies to show is obviously something that's beneficial for amc. liz: it's the fuel that goes into theaters engines. you just reported quarterly numbers, revenue cam in at 968 million i believe, definitely an improvement from 763 million a year ago. you did report a wider than expected loss on the bottom line , i believe the 12th consecutive quarterly loss, but would you venture to say that amc's profitability can't return until movie studios increase their movie slates? >> well, actually, what you just said is right, because if you look at a company like amc, we were the largest movie theatre chain in an industry that was sized with a box office of $11 billion pre-pandemic in the u.s. and canada. that's the basic unit measurement the domestic box

office. a global box office of $43 billion. that's what we were sized for , and the box office in 2020 was 2 billion and it was 4.5 billion in 2021 and it's going to be up 75% this year and we think it's going to be up another 15-25% or more next year, but it's still not back to pre-pandemic levels and so yes, we do need more movie titles, but, and this is an important but, when you look at that trajectory, 2 billion to 4.5 billion to between 7.5 and 8 billion this year maybe over 9 billion next year, we are on a path upwards. we are on a path -- liz: that shows with the revenue you're monetizing your theaters with a plan to turn them into zoom rooms. what kind of demand for that and bottom line impact do you anticipate? >> well here is the interesting thing about our joint effort with zoom and we're very, we're so pleased to be working with zoom.

we've run our whole company over the last two and a half years on zoom. whoever would have thought that in 2018 or 2019 that we be in a video conferencing world. you never would have had neon air like this. i would have had to go to a studio, or come to new york. liz: so you don't have to schlep now. >> no, and so but what's really interesting is amc does $20 million a year of meetings business right now, but we're limited in the sense that our meetings can only take place within four walls, within one theatre, because we have no capability to transmit from theatre-to-theatre ink across country. well, zoom rooms and amc is going to change all that. we're going to outfit 17 of our theaters in 17 major u.s. cities with the most sophisticated zoom technology, so not only you'll have 50 or 100 people in an auditorium in our theatre but you'll be able to interact with

a similar number of people in theatre after theatre after theatre in city after city after city and as i said we got $20 million worth of meetings business already but we think this is a real opportunity for us. liz: i like it. it reminds me of peter guber who back in the day bought a lot of farm team arenas and baseball stadiums, i mean we're not talking about the big ones he's talking about farm teams and then he turned them when they weren't being used for games into concert venues, so there's your revenue. i do want to ask you because as we look at the stock, it is down about 63% year-to-date. back in june of 2021, amc was what a $60 stock. the retail investors were all in by november and december, company insiders including yourself and we've talked about this , were selling shares anywhere from 27 to 40 bucks. you did telegraph that would happen on earnings calls but some triangulate that insiders didn't believe the company was worth such a high valuation that's why they were selling.

can you just clarify that? >> no, liz. i can't, because that's 2021 news. that's ancient history. what we're doing is we're focusing on bringing this company back, getting it through the pandemic, we have navigated amc through the most difficult challenges that a company management team has probably ever been confronted with before. that stock that you talk about that was $60 a share in june of 2021, it was $1.91 a share in january of 2021. liz: we see that, yeah. >> and we have been fully transparent with the public. fully trans parents with the public as to what the opportunities are at amc and what the risks are at amc, and our focus is on running the business. do remember this , i am amc's largest individual shareholder today.

if you take out the institutional investors, i have not sold a share in the last 10 months. in august, i had something like $50 million of amc stock. i am very much committed to running this company. it's a 24/7 passion, and the obsession that some at fox business news have about our stock sales in 2021 seems to be misplaced. what we ought to be talking about is what are we going to be doing to save this company, to give it a proud second century of operation as proud and successful as it was in the first century. liz: adam, thank you. i wanted to give you an opportunity to address that. dutch brothers ceo is next, our thanks to amc ceo.

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liz: we got to look at the transports yes, we have a major rally across-the-board but the transports are charging higher by about let's see 5.5% the leader of the transports all are in the green, jet blue is at the very top here, up 10%, followed by let's see , matson and then american airlines and delta, so the airlines are doing really well at the moment but jetblue far and away the big leader. we have wild swings in wework, slumped at the open look at it right now. it's definitely moving higher at the moment by 5.7% it had gone

as low as again it's a $2 stock, but of course we've got wework at 257 right now, $2.58, the office sharing company announced you know what? we're closing 40 u.s. locations again a big cost cutting effort kind of echoing what amazon is doing right now, real cost cutting. wework also forecast fourth quarter revenue below analyst expectations the company had benefited from a shift to flexible work hours, outside of traditional offices, but many companies are now calling employees back to work, if you're at twitter you to the headline, elon musk demanding that everybody come back to the office, only exceptions are if he approves them personally. so we got wework at $2.59. inflation also starting to weigh on business spending there and we should look at electric vehicles charging higher today. chinese ev maker neo reporting third quarter revenue up 32% year-over-year it also delivered more than 31,000 vehicles during

the quarter that is the most ever for nios so it's up 11%. rivian gaining 17 puerto rico per right now, powering forward after reporting a smaller than expected quarterly loss. that ev maker announced it is able to keep its production schedule on track in spite of supply chain issues. six flags investors enjoy the ride as shares of the theme park sore on news activist investor h-partners has increased its ownership from 14.9% to nearly 20% so six flags up 12.25%, the company says it has confidence in the entertainment, sorry, the activist has confidence the entertainment company will deliver an exceptional guest experience and will drive sustainable long terininin duh h h h h rsrsrsrs g g g jojojojoererer c c c c c c ce pd ququququs.s.s.e e e e e -b-b-b-h owowowg g g g g g g g ququququqr

eaeaeaea t t texexexexexexexste stfaamow inn re e % ostt owyodo icae atic w mac yer-. ioc b arapour arms around something like that? >> well, you know, very carefully, honestly. milk has been up really since the latter part of last year, and it hasn't really trended down at all. we've seen quarter-over-quarter i think our dairy number through the third quarter is still up over 25%, so you know, i think you have to be careful about how you manage that and you have to be careful with the customer and how you pass along pricing and where you pass along pricing and i think we've been mindful of that in everything that we've kind of managed. not just dairy but dairy

represents about 28% of our basket, and but our total cogs are still up over almost 11% in the third quarter and i think it's a nice job of how we've managed that with pricing. liz: it's interesting we have a banner that says wake up and smell the coffee. if it were longer we would say coffee prices. i started with milk because i love the latte, but it's actually oat milk, coffee prices are up more at about 14.8%. at some point don't you really have to i guess annoy your customers and hike those prices, or are you banking on inflation finally really retreating at some point? >> well i think you've seen like i said, we're mindful on passing along the pricing. i think the market has start to come down a little bit so you won't see that effecting consumer pricing for a while just because of the drag on what happens between by the time you buy coffee to when you actually produce it and sell it to the customer, so you'll see that hopefully come down a little bit

here starting in the spring. liz: you guys are on a terror when it comes to opening stores. i think you opened more stores during the quarter than you did in all of 2019 is that correct? >> almost. liz: and that's incredible. so you're pouring the money back into the business certainly. are you changing anything about how they they they're run or at least tweaking it? >> yeah, i think you've got to be, absolutely. i mean, when you look at labor and how you manage your labor, how you schedule your labor, i think that every company has operational efficiencies. i don't think anybody works perfectly and there's always a way to get better and i think our teams, you know, in our various markets have done a nice job but also i have to give credit to our real estate team in keeping us on track and on schedule in all the various partners that it takes to do that. certainly tables a village to open 130 locations in a year and we're so confident in that team that we jumped our number to 150

for next year and feel great about that pipeline, so sharing more dutch bros locations around the country is a goal of ours as we continue on this journey. liz: i've got space in my backyard in jersey i'd be very happy that i don't have to walk far for morning coffee. >> i'll tell you what, i've got a lot of feedback on jersey and long island, and connecticut and a lot of other places they would love to see one but a good disciplined business will get there eventually. liz: employment and this is sort of a bifurcated two-headed question here. number one, we have seen everyone from facebook, lots of tech companies, to amazon today saying you know what? we're going to either freeze or do cost cutting, hiring people or laying off. are you hiring to fill these stores and if so, the labor wage issue, because wages are still rising. how are you handling both of those issues? >> well, so one, you know, a great fact. we hire one in every 21

applicants in the last 90 days so we're not having a problem with pipeline and people applying to work at dutch bros. we think we're a great employer and we've become an employer of choice in many markets that we're in. i do think there's a wage inflation that everyone needs to be watching. i think we've been moving into lower wage markets as we've been most of our density sits on the west coast which has that higher minimum wage structure, but wage inflation is something that we're watching closely, and we have to grow. we're a growth company. we're building. we're running our company on business and we have to build a company to be prepared to do that but like i said earlier it doesn't mean there aren't a lot of opportunities to get better in every place that you do business and i think we've got a lot of chances to do that. liz: joth, i'm looking at your stock. you're just pennies off the session high, again, the gain of about 23 and one- third percent at the moment thank you for taking time out to speak with us we appreciate it.

>> thank you for having us. liz: headlines on embattled cryptocurrency exchange ftx have gone from bad-to-worse, and i know it's not a word but worser. the u.s. website of the company run by sam bankman-fried says trading on the international site maybe halted oh, is halted but in the u.s. maybe halted in a few days they are asking investors, you know what that is the international thing. they've closed down positions. is this cryptos 2008 sort of lehman moment? the coinbase chief financial officer in charge of the money over there on to answer that, she's next. she will also give us the low down on what all of this means for the entire image of crypto, while sam bankman-fried may not have the midas touch, podcast guest ted oakley does, hear his latest story on my latest podcast. a million different ways i should be trading. look! what's up my trade dogs?

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and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay. (fisher investments) in this market, you'll find fisher investments is different than other money managers. (other money manager) different how? aren't we all just looking for the hottest stocks? (fisher investments) nope. we use diversified strategies to position our client's portfolios for their long-term goals. (other money manager) but you still sell investments that generate high commissions for you, right? (fisher investments) no, we don't sell commission products. we're a fiduciary, obligated to act in our client's best interest. (other money manager) so when do you make more money, only when your clients make more money? (fisher investments) yep. we do better when our clients do better. at fisher investments, we're clearly different. liz: ftx boss sam bankman-fried

is begging for billions of dollars or a white knight to st ave off bankruptcy of his cryptocurrency exchange while tweeting that he " effed up and should have done better." the tweet comes after rival exchange binance pulled out of purchasing ftx's non-u.s. unit yesterday after signing a letter of intent. well now, reports are bankman-fried is hunting around and in talks with a number of suiters including justin sun, rival crypto exchange okx, and dan lobe's third point as he looks to salvage what is left at the moment of ftx. the exchange suffered the equivalent of a run on the bank as customers raced to withdraw funds amid speculation that ftx faced trouble from losses at its related trading firm alameda, linked to the collapse of an ftx-issued token called ftt. now, this was in double-digits just a few days ago it is now at just $3.58, despite all of the

ftx chaos, cryptos are actually charging higher. bitcoin is now up 1,637 to above 16,000 where it was very close to dropping below yesterday. bitcoin is at 17, 451 you see ethererum is moving higher at 12.93, litecoin is at 58 bucks. crypto platform coinbase is also powering higher. it's gaining nearly 10% so first on fox business, joining me now to talk about all of this and some headlines coinbase is making of its own is coinbase chief financial officer alicia h aas. thank you for getting in the chair for us. what is your take first on what's happening at ftx and what are the conversations you and executives at coinbase are having right now to make sure there isn't exposure or some type of contagion. >> thanks for having me. we're just talking about frankly how sad it is because whenever there's a customer loss it's a very sad day for crypto, and it's a time for the industry now to step back and figure out how

we move on from here, how we continue to fight for regulatory clarity in the u.s. , and a level playing field around the world, & companies fail and unfortunately we see this in traditional finance also so we think this is just a bump in the road and it's going to be a bump we have to work through, but it is not going to change the long term success of crypto, and we're just really backing up and saying how do we help customers and support them through this and drive regulatory clearance to bring more volume into the u.s. market liz: can i drill down a little bit on what you just said that it wouldn't hurt the long term viability of crypto. maybe for the die-hards but right now people are absolutely terrified on the front page of the ftx u.s. site, it's saying that they may soon halt all kinds of, you know, withdrawals and that they are recommending people not even make deposits so i think that that really casts a major poll and that's an under

statement on the entire space, although people are liking your stock at the moment up 10%, you're still well off the year-to-date highs, but talk ert habout the exposure.n stonu li ee,ir er tindootleo o ok au sa tgh hal

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liz: so alesia the chief financial of ther of coinbase we heard about the ftx crisis now lawmakers are stepping in. joining us with details charlie gasparino. charlie: and liz this is a story reaching from wall street to washington obviously and crypto is wall street a lot of big wall street firms are investing in ftx. our friend anthony scaramucci has a deal with ftx, i think ftx is a part owner of sky bridge so a lot of ramifications here. here is what we know based on my conversations with people who have actually been dealing with sam bankman-fried in the last 24 -48 hours. liz: really? charlie: yes, so they have been speaking with him. he's trying to assure them that he still has a potential to pull himself out of this and he's still looking to raise money, he's talking with people trying to get a lifeline somewhere. liz: down low there's a report about that. charlie: i don't know about that , and maybe that's my next call is to dan but just telling you he's making calls. he's dialing for dollars.

the question is, and i be surprised if dan put money in this , just knowing what type of investor he is, because they don't know how deep the hole is and what they don't know is just how close of ties did ftx have with this alameda venture, is sort of his family office fund, that had a lot of its money in that one crypto whatever it is, i can't remember, f something. liz: ftx. charlie: okay yes that crypto is if you looked at the price recently isn't worth a lot right now so that's where this thing gets very jumbled. this sort of connections between alameda and ftx. bankman-fried is saying he's dialing for dollars but here is the problem. the investors are really skeptical. they don't believe they are made whole. they are trying to get their money out of any of his ventures , because if this thing goes into bankruptcy, it's like one of these long drawn out processes and it's not like it comes in and bails you out some

of the small investors that's the insurance policy that broker s like bear stearns would have tapped into if they went under, that lehman would have tapped into, so that kind of makes investors hold. this is crypt so so we're in un chartered territory. liz: i'll show you this and we have a full screen of it, but this is from the ftx international site. ftx currently unable to process withdrawals and they strongly advise against depositing. this thing shutdown, i failed to see how it doesn't, it spread contagion to the u.s. arm. charlie: well it probably will and remember it's all tied up with all of his other business ventures so on top of all of that, washington is playing a role. now, we should point out the republicans haven't official ly won the house, okay? if they do win the house, from what i understand, patrick mc henry whose the chairman of the house financial services committee will hold meetings and they are raising issues about gary gensler, his regulation of

crypto, and apparently, the sec had meetings with bankman-fried over the last recently, they want to know what happened in those meetings that you didn't see , meaning you, mr. gensler, what's going on here. so there's some tweeting about this , from various members of the republican caucus on the financial services committee and from what i understand, they are going to ask gensler, what's up with this. now gensler went on cnbc today. liz: yeah, this morning. charlie: and mentioned there was meetings between bankman-fried and himself, we should point out bankman-fried is a huge from what i understand a very big democratic contributor. liz: yes, he is. charlie: so this is going to be, this is high drama, it involves wall street, it involves politic s. again, the gop hasn't gotten the house yet, but if they do, which a lot of people thinks is likely, it's going to be a hear ing on this no doubt and

gary gensler is going to be questioned as to what he knew, when he knew it, what he asked bankman-fried, when is bankman-fried's role with the democratic party since he's a big contributor. it's getting really messy on top of it all, you have the financial implications which we just talked about which, you know, liz, there are complicated stories, and then there are this this is a complicated story. it kind of reminds me of mf global in a weird way because when that thing blew up, people were talking about re hyp othetication. what does that mean? she just said it, a re hypothetication is to take customer money that you're supposed to, and essentially, borrow against it, so to use it for other stuff. liz: the problem is, he may not have told customers that. charlie: well, i don't know what's in his documents. maybe he's allowed to do it and coinbase is not. i don't know. there is some question about whether you can do that in a

brokerage firm, rehypothicate that money and how long you could rehypothicate it but the problem is when something goes into bankruptcy everything stops and it freezes so investors can't get their money out even if it's supposed to be unrehypothicateed back to their accounts. liz: [laughter] everybody write that down. charlie: i'm serious that's the problem. liz: charlie thank you very much and by the way folks sam bankman-fried at the start of the week was worth 15 billion and now he may very well be down to 1 billion. we're following that story commercial-free here we go. we've got four and a half minutes before the closing bell rings stocks are on track for just a week, the nasdaq going for the gold, up nearly, well, up 6% you have the s&p up 4.8%, the dow up 4%9. but by far right now, we do have the nasdaq the big percentage winner at the moment, gaping 6 full percentage points -- gaining. the 10-year treasury field

falling -- yield falling for the month of october, boosting hopes for smaller rate hikes. instead of 75 basis points, possibly just 50. 50 in december. we shall see. but you're looking at a 27 the babies -- basis point drop for the 10-year. for those of you who don't understand bond land, that's big. the greenback also weakening as investors are not attracted as much to parking their money in the greenback, federal reserve slowing down its rate hike trajectory, that possibility making people pile in, risk on in to equities. let's bring in christian he due who manages $100 billion in assets under management. what is your headline? >> hey, liz, good to be back with you with. i think headline is the 10-year under 4, as you just mentioned,

allows us to price if equities a lot higher. and you're seeing a little bit of that today. but we got down to, if you exclude some of the fang names, we got down to about 12 times on the s&p 500, and, you know, a lot of stocks are trading under 10 times. so this is really recovering some of that lost ground that we had before when the 10-year was over 4. liz: you know, you actually have some picks that you really like at the moment. we just had dutch bros. on, starbucks with is your pick. what is it about starbucks that makes you say i'll go into that one versus some of the other competitors? >> i think, liz, it's a combination of defense and offense with this one. the defensive side is this is a business that does pretty well during recessions. and you take a look at the slowdown, a lot of consumer-facing businessings -- businesses have seen when they raise prices, they're seeing

volumes decline. not starbucks. they've seen their volumes maintain and even grow a little bit while they're growing prices double digits, you know in they have the china situation, they have a bit of business there, and those lockdowns are, hopefully, going to be coming off pretty soon. the labor supply issues, the supply chain issues, those are a lot of headwinds that have held them back, but those are poised to recover in the next year. and even though it's a little expense air -- expensive, we think they're going to grow a little faster than expected. liz: we've got about a minute left before we hear that bell start to ring. technology, a big leader. all the sectors are higher, but technology is showing some real muscle here. you like autodesk, but can you give me a 30,000-foot picture, way up at the top? is this just a one-day situation? >> not at all. yeah, i wish i was telling you about this yesterday, not today -- [laughter] since it's up a lotted today. but this a leader in design

software, and that's going to be tied to the construction industry to some degree. and that's why you're seeing a big move today, because all the construction-related companies do a whole lot better when interest rates are lower. but they have some idiosyncratic opportunities too. they're raising prices across the board. they've got a new module rolling out to their customer base, and they've got a lot of non-paying customer, borrowing of log-ins, that they're trying to crack down on. so that's going to help them you a lot faster. liz: look at the gain for the nasdaq, 7.33%. here comes the bell. that is a major surge. the dow marking 1200 plus point gain at session highs. the bulls brought the gasoline, but that better than expected inflation report provided the spark. "kudlow" is next. ♪ ♪ larry: hello, folkses, and welcome to "kudlow," i'm larry kudlow. i will open tonight with my day tw