mae the xt bk shou be where e all e inveor mansns, beuse th56 miiomansiofigled h cod be t32 milon. thaboutisker,ou ownny th stocks wn 6. you wot be gtingnef minar'pa85 mlion for house,he stoo do 62%. the inbase ceoad a133 millust'do 84%. maybe we could bring back the robber barons, seemed like a better time, liz. liz: you could at least touch what they made, right? [laughter] how about that. you know, you actually could see a train and its tracks. charles, i'm glad you ended on crypto or at least coinbase. we are going to look at bitcoin

and ether. we need to start with breaking developments in the ftx fiasco. bitcoin right now is lower by 3.6% and now getting perilously close to going under $16,000. in the last few hours, lehner blockfi revealing it too has significant exposure to ftx. sam bankman-fried's embattled exchange. ftx signed a deal in july with blockfi to provide it with a $400 million revolving credit facility with an option to buy blockfi for up to $240 million. friday ftx filed for bankruptcy and booted founder bank month-fried from the ceo -- bankman-fried from the ceo seat. binance tweeted out it would be liquidating its holding in the token ftt, seen on your screen right here, due to, quote, recent relations. as other -- revelations. ftt fell from $25 to right now

$1.27. more on the biggest implosion in the crypto industry later with charlie gasparino who's working the phones right now. he will bring that story to us in just a moment. fox business alert, a after a brief say ration from the headlines, federal reserve members are back in front of the market paparazzi this monday afternoon. loil braynard moving -- lael bray with forward moving markets by floating the requested at a d.c. conference that the central bank will probably, quote, soon slow the pace of interest rate hikes. the nasdaq 100 responding most dramatically. the tech-heavy index had been down 1.3% before her comments, look at it, it came up off the floor, popped up higher. let's call it up 17 points right now. a little bit more than flat but still in the green. and after shooting up 6% last week, the best since june 24th, the s&p also flipped around as

shown in these intraday charts here. it turned positive about 0 minutes after the -- 20 minutes after the vice chair's comments. all the majors posting strong gains last week. by friday the dow jones industrials had added 1,3 # 4 points or 4% and came into today's session 723 points away from exiting bear market. right now it's gaining 98 points. but look at the home builders. so we're trying to give you all of the reaction here. they are all in the red because when explaining why it will soon be time to move at a slower rate hike pace, bill bray -- lael brainard noted the tightening has become apparent in housing prices flattening or falling. well, they're a falling because mortgage rates are shooting to the sky. look at this today, bankrate has the average mortgage at 7.32%, a 15 basis point increase over the last 7 days. and brainard still stressing more work needs to be done to

bring down inflation, but how much more work? we'll get a window tomorrow with the release of the october producer price index. estimates indicate core prices at the manufacturing level moved four-tenths of a higher month over month and year-over-year expected to move 7.2%, matching september's year-over-year number. that's barely an improvement if you want to talk about bringing inflation down. 10-year yield moving higher, because again we're not seeing inflation come down enough. it's at -- up 5.1 basis points, butman saks' economic team -- goldman sachs' economic team claiming, don't worry, inflation will drop next year. so you know what's also coming down? oil prices. we're in the aftera market right now, down about 4% over the weekend after a 9-month occupation, russian troops retreated from kerr ohioan in the south -- kherson in the southeastern region of ukraine.

right now we've got crude at 85 and change per barrel, so how will these the developments color investors' mood as we kick off the second full week of november? joining me now, strategic resource group managing director burt flickinger and and kenny polcari, our trader. kenny, i want to begin with you. a lot of attention going to talking heads, talking fedheads, but there's breaking news on the dollar as well. we've got the euro hitting a session high against the green barak and on friday the -- greenback. so that's got to be playing into this, right? >> it's the absolutely playing into, you know, you saw that big edod t aweth s tlln ll lwend she it oerghod yin e is ronl ctiesandore cly

space, for sure. liz: can i just jump in here, because i know you love are apple, and, in fact, we have a lot of traders who love apple. but this is a company right now, it's flat, had been down, had been up. you had tim cook saying earlier today that he is going to start freezing hiring. there's pamaspis >> del aune r e ezalouinhi. ngveify ng edt arouno anlere. 'rg tha ove tt 'r w irm tgh

man 2023. liz: well, yeah, they gotta be prepared. but i think of apple and, burt, k k k k k k k s ththththth chchchs s s s s s ukukukbrbrbrbs yoe e e e e e e anisisisisiswewe nananapopopopopog g g g gsgsgsc' hohohoetetetetetetet, ,,,,, macy's. headliners this week. what are you expecting to happen here in. >> expecting the numbers to be better, liz, but mindful that they're inflation-adjusted. so as you and kenny were just referencing, building materials ticked the positive to negative last month according to the u.s. the president of commerce, so -- department of commerce. so numbers won't be great because the best bargains in the last 25 years, but the consumers have the lowest amount of disposable income -- liz: they're not matching. you call that desperation discounting, don't you? >> yep. liz: and that's what you expect to see. more importantly, tell me what

you're seeing at the consumer level. there are some very difficult times for people who have to pay rent, which is going up, they've got to pay certainly higher from a year ago gasoline prices, and do they have enough money then to heat their homes and to buy gifts? >> and turkeys are up 75%. so it's really difficult. and it's also important, you and kenny referenced washington. it's very important the federal trade commission approve kroger/albertson's kong redivision. the two chains have the most market overhappen, but costco's already the number two food retailers, and unless kroger and albertson's can combine and share with all the retailers, consumers can't afford to go out to eat at restaurants. they need to keep their neighborhood stores open whether they're chains or independents and save money so they can get the gifts urn the christmas --

under the christmas tree and hanukkah bush too. liz: kenny, let's say burt is correct and we might start to see fourth quarter earnings in january looking not as exciting than if you're picking stocks, a hair or two to put under the holiday tree for any of your loved ones, is it wrapped up in horazye iike iaueli ertlyowoc h wee alf ost reed cthele ar to buy, not want to buy.

electronics and those gadgets are down about 8. 6% year-over-year, so what are your picks going into the holiday? >> look at casey's general stores, close to 2,000 stores in the central u.s., look at exxonmobil for their retail doing very well between refining and retail, and also look at costco, albertson's, bj's, kroger all very strong, tractor supply also looking particularly good and o'reilly automotive as well. liz yeah, i can see that -- >> i gotta tell you, the costco right by me in north palm beach is loaded with people every time i drive by there. the place is loaded with people trying to find the best value. liz: well, wrap up one of those gigantic scwugs of, you know, chocolate-covered almonds for me and put a bow on it. [laughter] i am so easy to please. [laughter] burt, it's great to see you, he b b b b b b o o oekd totototm

thacntheheheheheseseseettitititi u he correctly, record.dldldlda. i max ceo get. fond has a -- rich gelfond joins us live in studio next on whether he thinks the marvel universe's latest blockbuster can shoot down maverick for the year's top spot. dow jones industrials up 75 points, "the claman countdown" is just getting started. so glad you're with us,. don't move. ♪ ♪ your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do.

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liz: disney and marvel studios' black panther: wakanda forever

clawing its way to the top of the box office. the sequel of black panther now the highest grossing november premiere ever coming in right behind the leading blockbuster so far for 2022 the, top gun: ma rick. okay, that's for the whole year with. internationally, wakanda grabbed $150 million at the box office. 9% -- 94% of the theaters this weekend marched straight to black panther showings, and imax also feeling the love as wakanda forever is now its biggest november domestic opening ever at 14.2 million and counting. ah, but can it push maverick off its pedestal, or will that success go to the upcoming avatar sequel? joining me now imax ceo rich gelfond. rich, can you answer that question? is and, by the way, are my numbers up-to-date on the box

office numbers for imax? >> i don't know, i haven't checked today, liz. liz: come on. >> i've been actually working. [laughter] some other people, that's their job. mine is to create value long term. but, yeah, it was an amazing weekend. you know, i'd say the movie is going to have legs. i more look at the end of the year as a one-two pun of. with black panther and avatar, and i've been saying all year that this is going to be an amazing culmination to the year. for imax avatar was our biggest move ever 13 years ago, and we did $250 million on 250 screens. we now have 1700 screens, so, you know, i think there's a good opportunity there. black panther, the results were terrific. one of the really good things is it opened two weeks before thanksgiving, so thanksgiving week 45% of the kids are are out of school, and then starting on wednesday 85% of the kids are out of school. so i think this thing has a good

chance of to have really good legs on it. in terms of predicting vis-a-vis top gun, i'm not getting in a shootout with tom cruise. [laughter] liz: i wouldn't either. >> that's not happening. liz: theatrical are release versus streaming, wow. this thing not going to streaming for quite some time, correct? >> yeah. and, in fact, the example you used, top gun: maverick, once it went to digital, it became the biggest digital release in the history of movies after taking in $is $1.5 billion at the box office. so it was a failed experiment to take movies and put 'em right on streaming service. and even netflix, there's a crack in the door. knives out 2 comes out in a few weeks, they're releasing theatrically before it's released on netflix for a week. so i i think even the most stalwart streamers know that that model didn't work. liz: well, you know, it's a work in progress just like 3-d was so

hot, and right now it's not. as we continue to look forward, let's talk about chadwick bozeman, of course, the original black panther star. he died of cancer, tragically, in 2020. but he does appear in this film. will it give a longer vapor trail to the success of this movie? >> so i think disney and the director deserve an enormous amount of credit, because he died after shooting had started and after a script was locked. so they had to go back and rewrite the whole story and reshoot the entire movie. so, you're right, there are small sequences that he's in. i think, you know, i don't know if you've seen it yet, but it's a really good movie, and i think, pun intended, it's a marvel the way they pulled it off. but, you know, whether fans are particularly attracted to him, and that'll make them come, i think like most it's a reallied good story. the special effects are amazing. i went with a friend who said it

reminded him of a car advantage owe painting. that's a high bar. liz: very visual, blues there are a bunch of other characters in there with all kinds of wersty, certainly. it can't open in china yet. is that because there is a gay character, and do you expect it to eventually get to open in china, and what will that mean for your huge number of imax screens there? >> you know, i don't know. it's been submitted. predicting what films they're going to let in is like predicting the mets and yankees in the postseason. [laughter] who knows, that's beyond me. but i think there's a good chance that avatar gets in, and i think that will be a turning point for china. as a matter of fact, today a very subtle turning point in the xi/biden summit, xi did not wear a mask. and it's the first time he's been seen in public without a mask. and that coincides with somewhat of a weakening of the covid

policy over there, the shutdown- liz: right. >> so we're kind of encouraging that things are going to come back to normal here. liz: that's a very interesting observation. let's bring it back to avatar. what is it, the way of water? >> yes. liz: you and i talked i want to say four years after the first avatar came out, and i asked you when is the sequel coming out, and you said, liz, i don't know, the one who's at fox. this was a fox entertainment film. it was the biggest blockbuster ever. second was titanic, both fox movies. and now, of cour entertainment division to them, but how big could this be? >> you know, it's really hard to say because no one's seen the movie yet, right? it hasn't been released -- liz: are they keeping it under lock and keysome. >> oh, yeah. well, there's been a trailer which is incredible, but no one's, you know, outside of jim cameron has been able to see where it's at. but the anticipation is amazing,

liz. i've been on the road a lot, the last month or go i was in asia, europe, and the film owners there, the theater owners, that's all they're talking about, how big it's going to be. ask one of the most important things also a little subtle is usually christmas is packed with movies on schedule, everybody is intimidated by avatar coming out. liz: oh, yeah. >> so there's nothing else on the schedule. anyone who wants to go to the movies over christmas is going to go see avatar, so i think it will be big. liz: one less imax-y type of film starring timothy channel lay, bones and all, it's kind of controversial. it's about cannibalism, etc. you know, where do you see that fitting into the imax picture? >> so he actually starred in dune -- liz: yes. >> -- which we did 25% of the box office. so it worked really well on his film. you know, i think we try and

focus more on visually stunning, blockbuster movies. i don't know enough about the movie, liz. but generally cannibalism is not one of our three leading criteria when we pick out movies. [laughter] liz: rich, it's good to see you. we'll be watching. you've got to come back for avatar before, during can, after, because that is going to be a massive business story. >> done deal. liz: thank you so much. elon musk still wearing the twitter ceo with hat after complaining about doing too much work. but over the weekend this man, t-mobile's former magenta man, tweeting out an offer directly to elon musk to offer to join the flock. what musk had to say about john ledger's pitch to sit at the top of the pecking order at the little blue bell. closing bell, 37 minutes away. the dow at 25, nasdaq down 36, russell losing 6 points. we are coming right back.

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liz: fox business alert, tesla is moving lower by about 1.5% as the trial over see elon musk's $56 billion pay package begins today. yes, that trial. a tesla shareholder is hoping to prove during the 5-day trial that musk used his dominance over tesla's board to dictate the terms of his 2018 package. musk is set to testify on

wednesday. this, of course, adding to the new twitter owner's already triple-booked calendar. musk saying during a video appearance in indonesia, quote, i have too much work on my plate, end quote. well, in steps former t-mobile she ceo john ledger who, hearing that, offered to ease some of that burden. he tweeted, hi, elon musk. maybe i should run twitter. you can stop managing daily business and content moderation and then support product technology. let someone else run twitter with. i'm expensive, but so is what you paid for twitter. p.s., please be leadership example of how to tweet. elon's response? no. [laughter] biogen -- listen, he could do worse than john ledger, okay? biogen on track for its highest close since september of 2021 after its rival roche said its alzheimer's drug failed to meet primary targets in two late-stage trials. its drug show ised a slowing of

clinical decline that was not statistically significant compared to the placebo. biogen's experimental drug slowed progress of the disease by 27% versus a placebo. yeah, we've got biogen up 4 plus percent, and roche's partner on the alzheimer's treatment down 27%. other big pharma moves, no -- movers, no moderna spiking. pfizer getting a boost on the upbeat news as well, moderna up 4.8%, pfizer up -- 4%. celebrity backed oatly getting creamed, down 11.6% after a reporting a larger than expected quarterly loss andsi ly a o-p-ztae n,n ngllmps cad c.

thk t, ws 'sowst $ $ocock. nonot n memes sbsbro icich h tot from a buy to underperform. focus of the down can grade, hasbro's magic, the gathering, trading card game business. hasbro has been overprinting cards and destroying the long-term value of the business. so we've got the stock down 9.5%. advanced micro devices, amd, moving higher by the 2.5% after getting two upgrades. seeing positive cyclical trend and strong demand for the genoa chip. well, chips and technology definitely one of the hot topics at the g20 summit in indonesia as president joe biden met with chinese president xi jinping for

the first time since he has been in office. but was the three-and-a-half hour meeting enough to bring china to rational thinking? we'll go live to bali for a full report. and we are going to ask one of the nation's top experts on china trade if a new cold war actually is developing despite what both leaders said at the meeting between the top two economic powerhouses in the world. michael pillsbury joins us in a fox business exclusive. he always a calls it like he sees it. we've got the closing bell 29 minutes away. merck and j&j are at the top of the dow 30, home depot and dow inc. at the bottom. stay tuned, we're coming right back. ♪ ♪ ♪ ♪ we all need a rock we can rely on. to be strong. to overcome anything.

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president biden will begin day two of the g20 summit this one day after meeting with u xi jinping in bali. the two leaders sat down to discuss rising tensions between the world's two largest economies. the last time the two had met was in davos is, switzerland, in 2017 on one of biden's last days as vice president before president trump was sworn into office. the president says he remains hopeful the u.s. and china can work together, and he is committed to keeping the lines of communication open between both countries as well as between himself if president xi. let's get to edward lawrence who is live in bali. there was a big focus on taiwan in their conversation. >> reporter: and there was a huge focus on it. and good morning to you from tomorrow, actually, we're 13 hours ahead of you at the moment. yeah, taiwan was a huge topic. in the read oath, in fact, president joe biden talked with president xi talked about the non-market economic principles that are actually hurting american workers and families. but on the taiwan issue, the

president says it produces most of the semiconductors coming in to the united states, and he told president xi that the status quo should hold. >> we believe there need not be a new cold war. we, aye met with xi jinping, and we are candid and clear across the board. and i do not think there's any imminent attempt on the part of china toadanani mapo oiw nedl. rr:sikiustoelthe chveds and transition to cleaner energy. >> i made it clear that thanks to the to bold agenda of our administration we pursued from day one to tackle the climate crisis and advance energy security at home and around the world, the united states will meet, the united states will meet our emissions targetsere ra

wn etinylas. wdige wat wofrebeto o engrd tors s maintain regular contact. president biden says that he is sending secretary of state antony blinken to china in the coming months to continue his dialogue. liz? liz: edward lawrence live from bali. let's are bring in michael pillsbury, author of two books on china, foreign policy including "the hundred year marathon." he joins us in a fox business exclusive. michael, first, your reaction to all that was said between the two; namely, that president biden said we're going to compete vigorously with china without conflict. can that be accomplished? >> no, it cannot. this is the new example of wishful thinking, that somehow we can call our competition with china something like

mcdonald's versus burger king or i get the bronze with, you get the gold in an olympic competition. it's not really what's happening. it's a global struggle for power, who will be the prime leader of the world. and a lot of it depends on economics, trade, investment, and that was not mentioned really today. janet yellen earlier talked about how she would not hamper u.s. companies in china, but basically the struggle for power is not changed by this effort to sort of reduce the temperature in this three-hour meeting in bali. frankly, you have to ask yourself, liz, what in the world were they talking about for over three hours that they could somehow agree that they're going to delegate everything now to three teams. secretary blinken's going to beijing, there's apparently a janet yellen channel, and there's a third channel that'll discuss climate change. remember, the chinese broke off the climate change talks in protest over nancy pelosi's trip to taiwan. that, apparently, is one

concession from the chinese, they are restarting our climate change talks. so you're going to have probably janet yellen, john kerry and antony blinken, all three going to beijing. i don't see a lot of progress, frankly. liz: well, i'm a little perplexed by one thing, and that is if yellen is saying that they will not, she will not hamper u.s. companies from going to do business in china, well, it's the biden administration that has just slapped some handcuffs on u.s. chip companies and the chip equipment makers and the chip manufacturing companies like applied materials and kla them core and all of these company because the argument is that the chinese are using some these semiconductor products in weapons of mass destruction. so i'm not against that. i mean, sure, keep the stuff for us and don't help them create these weapons, but then she simply says, well, i won't hamper u.s. companies from going in there to do business. it's a little perplexing here.

>> yes. we can be sure that during the three hours xi jinping complained about what the9 chinese are calling technological containment. they say it's a kind of cold war, if you restrict the sale of chips to china, software, all of the things that biden did a couple weeks ago. the chinese are hopping mad about it. he also has kept all the trump tariffs in place, and he's increased some other means of punishing china by doing things on taiwan that they claim are a violation of the one china principle. so i see continuing conflict. i don't see this new era of detente with china that they seem to be trying to provictim in bali at all. liz: yeah. i would say if you're making a sports analogies, that's like the cleveland browns and the pittsburgh steelers saying we'll compete, but we won't have arguments, and there will not be conflict. right! that said, i want to talk about the one china promise that pride

president biden said is still in place. that, of course, means china and taiwan are one nation. of course, taiwan would brisk -- bristle at that. but i mean, do you believe that xi and the chinese are telling the truth when they say that an invasion or they tell president an invasion is not imminent or at least give him the impression of that? >> well, it depends where the word imminent means. imminent means in the next ten years, then that's clearly not true. obviously, they're going to have a surprise attack against taiwan or a blockade that could cost the world $1-2 trillion if there's a chinese blockade existence taiwan with. they're not going to advertise that in advance. it would be impossible for xi jinping to come in and say i'm going to invade taiwan in two weeks, please get ready. liz: we shouldn't let our guard down, right? [laughter] >> i think there is a cold war underway. i think it's nice that both sides want to defuse, you know,

the harsh rhetoric, but nothing really has changed because of this 3-hour meeting in bali. liz: michael, please come back because your perspective is incredibly insightful, certainly, with all of your background in china and the relationships between the two nations. good to see you. >> thanks, liz. liz: reports out say that the department of justice and the securities and exchange commission are investigating crypto platform ftx after its meltdown last week. but is sec chair gary gensler going to find himself in the crosshairs? charlie has more on the story he's been breaking for the past couple of days. he's coming down in just a moment. closing bell ringing in 15 minutes. dow has flipped negative again, down 26 points. it's been a very jittery raidins monday. ♪ ♪ project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates,

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liz: all right. he's facing controversy after the sam bankman-pried debacle. >> -- bankman-fried debacle. >> so it was gary's staff, about five people at the sec, saying banman-fried staff, four or five people from his team, ftx, and then brad cats yam ma, the guy made famous on flash boys, his staff, which all convened a zoom meeting for about 45 minutes in march. we know the meeting took place this march. these are the details that a we have exclusively, to discuss this potential for an idea of a new crypto exchange. now, what would make different is most crypto exchanges right now are operating, but they don't really have the blessing of the sec explicitly. there is no explicit blessing. they are trading coins often that are not registered with the sec which leaves them open to regulatory issues. so remember, that's always an issue. if you, you know, if coinbase

trades ether and ether is declared at some point a -- security, that becomes a problem. and gary gensler has said this. this was designed to get around that, create a ab exchange that explicitly has the s, c approval on what stuff to trade, how to trade it, how it could be legally traded, and that was the whole idea of this meeting. now, western point out republicans are saying, listen, this is proof positive that gary gensler was in bed with bankman-fried who was, essentially, a huge democratic donor, that he wouldn't have gotten this meeting unless he was -- remember, he gave something like $36 million to democrats during the midterms, gave $10 million to gensler's nominal boss, the president of the united states, president biden. you know, his parents are very big in democratic party politics, i think they're both professors at stanford. so there's a lot of stuff going on, and republicans are going to dig into this meeting pretty deeply if they get control of

the congress. you can probably see the house financial services committee do something. now, here's what i understand, and the republicans might be a little bit -- [laughter] disappointed if they call gary gensler there. for my -- and i'm getting this, just so u so you know, not from gensler. what they're saying is that these meetings, there were a bunch of them. now, there was one with banman-fried, brad and the sec, and that lasted 45 -- liz: sorry, did you say zoom? >> it's zoom. >> because ftx is domiciled in the bahamas. >> okay. but they're often -- liz: so it wasn't in person. i just wanted to -- >> no, but bankman-fried could take a plane to washington if he wanted to. but it was on zoom. and, you know, it was extremely inconclusive. and the, from what i understand, the pitch they gave him wasn't quite a pitch as sort of a thrashing around of ideas. and the idea was some sort of

crypto-venue exchange type thing. hay had follow-up meetings, at least one more, with iex and ptx and the securities and exchange commission. i don't believe gensler was at that one. and largely it was meeting with the sec on the outlines of this issue up until pretty recently until ftx blew up. now, that's where it kind of becomes interesting. is it, you know, are these meetings indicative of sec interest granting approval of this thing? because what's his name, sam bankman- what do they call him? sbm, is this just what the sec does? gensler's people says he meets with people all the time. he wasn't exactly, you know, ebb you lent about -- [laughter] from what i understand. the quote i was given was that he gave them a 45-minute lecture finish. [laughter] could you imagine being lectured

by gary gensler -- liz: mit class all over again. >> and he made it clear to them, apparently, thattal heed that do, you know, that controversial sort of family office hedge fund that bankman-fried apparently operated that is in the middle of this blow-up, right? some sort of taking of funds -- liz: cross-contamination, if you will. >> and investing in alameda -- liz: without telling clients. >> apparently gensler made it clear that they would have to be separate, you know? so this was hashed out in these meetings. it'll be interesting to. when all that gets before a congressional subcommittee. will be the house financial services committee. it is a congressman from, tom emmer, from minnesota has raised that possibility already. i think things might go too far in terms of a regulatory monopoly.

i don't think the sec can grant a monopoly to anybody. say they granted this thing, guys, go for it, liz claman and charlie gasparino can theoretically copy that. liz: i want a toke edge of my own. >> not a token. we can start a red exchange. >> thank you very much, charlie fast. four 1/2 minutes before the closing bell rings. dow, s&p 500 just hit a session lows. the dow gave up gains in final hour of trade. when we came into the session, loss of 118. now it is worse than that. it has been a choppy averages where major averages seesawed from gains to losses, move from negative to positive, short-lived, coming from lael brainard the vice-chair of the federal reserve who is a voting mel per, do expect we'll probably see a slowing down of the pace of interest rate hikes. holiday season, did you guys see this, underway in new york with

the iconic rockefeller christmas tree arriving saturday. as we get closer, they're putting it up to the end of the year. it is time to find shelter in the dividends cave, at least that is what our "countdown" closer says and he is happy to oblige. genter we have dan genter. we have so little time on the calendar, you believe it is safer? let's try to find dividend playing stocks to park it until the danger is over? >> i think so, liz. you're dealing with a confluence of three major powers here. in essence you have valuation, the valuation is good. we really rung a lot of excess out of the market. we traded 17 times. we tested 15 times twice. the good news there is sort of a safety net under this market. the difficult as we look at earnings, the jury is still out.

third quarter is come nothing pretty good. 95% of the companies have been reported, there have been minor adjustments. fourth quarter still ahead of us. obviously the big 800-pound gorilla in the room is the fed. we're seeing mixed signals what is coming in. even if they slow, they will have adjustments. to us it is just too early to ring the bell and say it's all clear. so sitting in some stocks that are going to be a little more value-oriented, have nice strong cash flow while waiting this out is a good way to ride this through at least for the next quarter. liz: let's give your picks. you like enbridge, emerson electric, gilead. we can put up once again if we can the dividends that each one pays, specifically enbridge, 6.1% dividend. that is definitely better than even the 10 or two year, right? you have 3.6% for gilead, 2.2% for emerson but we don't want to invest in companies just because they have a freight great

dividend, correct. >> that cash flow is strong support as you wait things out. these companies have fair valuation. same with emerson electric will be part of a industrial rebuild. they will be in a strong sweet spot for automation. gilead, who we think is radically undervalued, somewhat unappreciated is at a 12 pe. we think all these stocks have a significant amount of upside. you just may have to be a little bit of patient as we get into 2023 to see that but you're supported by the dividend in the meantime. liz: the broader market picture right now couldn't hold the gains from today. granted we had a brilliant week for the bulls last week. when you see nasdaq with a 8.1% gain four or five days last week that is certainly understandable if you see some selling pressure here which we're seeing in the final one minute less of time to trade but what going to get you there the ceiling of the s&p 500

of 4,000? >> liz, i think we'll have to two see things. we'll have to see further confirmation we'll not see significant adjust meant in earnings which is what people are concerned about. liz: okay. >> that we'll have to see comments from the fed they're seeing points for inflation, what we see in the future for pce in particular that they are going to slow. see 50 basis points possibly in december. then we'll see some 25s. the market can digest that the market can take that news to do well with it. liz: dan, great to see you. thank you very much. >> thank you. [closing bell rings] liz: oh it is a fun day. we've been up, we've within down, now closing pretty much at the lows of the session. see you tomorrow