couple years and made it so lucrative not to go to work they'll stay home instead of punch a clock. from ftx debacle to a lot of other issues plaguing our nation, lawmakers have lost their way. they talk a good game, dot finger pointing stuff really well but the lack of fresh ideas and answers to solveable solutions is taking a major toll. moreover they must find ways to work for people for the american public and stop working towards top don donors. it's a problem for a long time and free markets and individual determination and achievement, we need to remove the roadblocks and i hope lawmakers do it sooner than later. happy bir birthday to my wife ad hand off to liz claman. liz: two birthdays. charles: i'm broke, liz. can you lend me some money. liz: and i know your wife.

she runs hot. call the fox market a november surprise on the last day of november. the markets are getting a powell push. the dow was deep in the red, just look on the left side of your screen. at one point it was down 300 -- let's see, down 268 points. right now you see where it is, up 413. now, this happened, the low part of it before federal reserve jay powell began his monetary policy speech at the brookings institutions. but if you see this inter-day and we can go onto the s&p as well, the headline that probably elicited the knee-jerk response in the dow, the s&p, vaulting into the green was powell's statement that "the time for moderating the current interest rate hike pace may come as soon as december". here was his thinking. >> we think slowing down at this point is a good way to balance the risks of -- >> slowing down on the pace of rate hike s? >> yeah. liz: the markets absolutely love that. investors eager for the fed to take a breathe eric because of

course higher -- bruter because higher brate!s make it more expensive and dove high into nasdaq stocks and tech heavy index down by as much as 17 points. look at this, that's not a lot but you see where it is right now. this pop of 331 points is quite a dramatic swing. it has been quite a day where you have that neck snapping move. bond yields completely reversed on the possibility that the fed will be less aggressive at the next meeting by the way for those marking the calendar, that's december 14th. the ten year yield had dropped from 3.78% to a now 3.70%. and the two year yield chilled. it had been about 4.25%. check it right now, 4.39% at the moment. you can't fault the markets for being a little confused because powell went onto sternly remind all the bulls he needs "substantially more evidence inflation is actually declining". this is why, i mean, i heard

this and said here comes powell sort of on the one hand on the other. he said by any standard, inflation remains too high. powell's speech coming right after a major econo data dump this morning and the gdp at 2.9% and stronger than expected growth of 2 at any time 7% and another -- 2.7% and another better than expected number and a scosh here and slightly rear-view mirror looking and jolt at 10.3 million job openings and for the u.s. slightly warmer than expected. but private job growth in you've, there's your miss. the adp private payroll report showed 127 jobs created during the month that is well below the 200,000 expected. is this the sign that powell's been hunting that shows the economy may finally be responding to the rate hike medicine intend to cool down inflation and could now be the

time to start thinking about, thinking about a pause? let's get a trader's perspective and bring in sea port securities founder and president teddy wiseburg. teddy, for weeks saying wait till the fed is done before you dive in and look for opportunities. did anything he said slowing down this december, which is tomorrow, change your view at all? >> well, yes, i think the message was reasonable positive and we were looking for a 50-point basis point bump in december and not the 75 we've seen for the last two or three meetings, but i think his words were reasonable conciliatory. i guess the one big negative is, you know, he didn't tell us when they were going to be done. of course he doesn't know that. nobody has a crystal ball. clearly it was a moderating stance and i think clearly the markets like that. as you pointed out earlier, we had a complete reversal in the

averages and so on balance for the moment and that's reasonable positive. liz: fed funds futures, 72.3% odds of 50-point basis point hike and before the speak it was 65%. now he's made it very clear and he's telegraphed to all of us, our investor audience and everybody else who really understands feed speak or not that he is going to slow. to me, this was a very interesting forum he chose. "the wall street journal" speaking on stage with him and seemed incredibly relaxed and he was confident, i want to give our viewers cycling through what's winning and losing and leaders and laggards, he said "we will hold the pollty there for some time -- policy there for some time once we hit the target rate". he wasn't really clear on the target rate. 5% or 7% for the interest rate that's their benchmark? not to mention, he said we'll stay the course till the job is done and said that before, teddy. then he said the ultimate level of rates will need to be higher

than we first discussed back in september. is there any sector where you believe will be the first snap back that's been coiled up tentering out? spring out? >> well, the obvious is probably the tech sector and clearly the tech sector will benefit and tech stocks have been reasonably strong to date even when the general market was selling off and of course now they're on fire a little bit. i think overall, liz, we need the tech stocks and the big name tech stocks to do better for the overall markets to do better. liz: tech stocks, of course. we'll get more into that in just a minute. as we continue to look at the nasdaq, i do find this is interesting because people had said, when is it time to buy the deeply discounted momentum names that were in favor two, three years ago and had been beaten down so much? you can see the leaders here,

folks, netflix, intuit, biogen, qualcomm and i don't want to ignore oil because it's been the big driver of inflation and there's a much bigger than expected bill -- drive -- sorry, draw down actually today for inventories for the week. so it's not a surprise to me that crude oil is up at the moment, 3% in the after market. we now have it above $80 a barrel at $80.62. what about all these people who say that oil names, whether they're the integrated oils or some of the refiners are the place where eventually we'll go back to $150 a barrel? >> well, i think -- you know, i've always mentioned the energy sector as a sector to be in. i still feel that way. also i think the insurance stocks, they're big beneficiaries of high interest rates and interest rates aren't going down, they're going up and perhaps more slowly but they're going to go up so i think you want to have exposure to a

sector that benefits from that and the insurance, the insurance companies in particular are great places to be in a period of higher interest rates. the energy sector, i think energy is still where you want to be. i mean, what happens when china wakes up and eventually china will wake up and the demand ratio will tilt in the energy companies again. oil at $80 a barrel is the oil companies unbalanced and probably killing it. liz: i'm looking at dow jones industrials and up 438 points, just a second ago hit a new high of 458 points. so we do have a roaring rally right now. teddy, thank you so much. joining me now former federal reserve governor lawrence meyer. larry is the ceo of monetary policy analytics and always been considered as one of the best forcasters ever to work -- forecasters ever to work at the fed. larry, the most important thing from you and what felt like a flood of head making news

headlines from fed chair jerome powell. >> slow but higher and higher is important and that tells you they're going to raise rates more and have to go markets to more strength. that's the important part. he said more clearly in december they'll slow. that's no surprise. everybody knew that by now. and what was important about the speech is the contrast of the labor market. liz: talk about the labor market. he did make comments, and i want to play one of the things he said about the jobs world because there are people, and you know this, larry, who say that jay powell wants people to lose their jobs. i disagree with that. i think what he's saying is we need to see the labor market cool so wages can just at least stabilize a little bit cause they talk about how important it is to keep wages stable in the inflation picture. here's what he said about the

job world right now. >> this is a great labor market in that sense and too greet because it'll be adding to inflation. liz: how are we supposed to interpret that? >> look, i was -- yes, you want people to lose their job and the unemployment rate to cool off. liz: what? really? >> of course you do. if you want to control inflation, that's what you do. you can't say i would lower inflation but i'm going to keep the economy going very strong. won't work. liz: okay, can i get your thought because you had predicted before this that there would be a 50-basis point hike in december, that looks like a sure thing, but more importantly you also predicted as far as out february another 50-basis point hike. has any of that changed after this afternoon's speech? >> no, not at all. that's part of the down shift but it's also to get to where

they want to go to that appropriate level of restraint by the first quarter. so, no. i wouldn't change that at all. the rate and we were at 50 for a long time for december. liz: talk about people losing their jobs. a lot of companies have laid off or cut jobs. just today door dash came out and said we're cutting about 1,250 of our staff members. intel cut, amazon 10,000, we've reported that. meta 11,000 jobs cut. amc networks, 20% of its work force and the ceo lost her job. disney, hiring freeze and some cuts. roku cutting 5% of its staff. you know what happens after christmas, larry. more people will lose their jobs. is there no possible way to have lower prices and people not standing on the unemployment line? >> all right. so let me soften my answer a little bit.

liz: thank you. >> number one, he said that you can relax the tightness in labor market in two ways: raising the unemployment rate or lowering openings. it is possible, really perceptive, that if job openings fall enough the unemployment rate won't have to rise to make the labor market less tight. so that's number one. the second thing is it's not clear. we don't need a recession. it's not clear we have to go much for restraint. he also emphasized the supply story. it is the supply constraints responsible for the higher prices, not demand. as the real sites close down, employment lags and that'll slow down. so employment will slow down, labor market become less tight. we don't know what that means exactly for the unemployment rate. i think it'll go to say 5%. liz: 5%, all right. well, at least it's not 10% like

the horrible times during the pandemic. larry, you've given us a lot to think about i must say, sir. thank you for joining us. >> my pleasure. liz: okay. even with today's nasdaq pop, folks, the tech landscape is strewn and you know this for those who thought let me buy nvidia because it looks cheaper. the high fliers have come down but spectacularly crashing down to earth. hp enterprise posting a strong fourth quarter. look at this stock jump here, 7.5%. next, we get the outlook going forward with hpe ceo joining the "claman countdown" live with the closing bell ringing in 47 minutes. we are coming right back. the dow jones industrials up 471 points. ♪

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liz: customer relation software services giant sales force is set to report third quarter sales after the goal. but the dow jones just hit another session high. the dow is up 513 points. folks, this is a roaring rally here. quick check, nasdaq up 383 points. sales force, big name. dow component, comes out after the bell. ahead of the reveal. wall street's like talk to the hand. they've been reducing revenue and eps estimates after sales force cut hundreds of jobs and that did not send the most positive of messages and we're watching it at the moment. sales force ahead up and another software services name, hpe,

silicon valleyal worth hewlett packard at session highs, 8% pop at the very moment after the software and services company reported a fiscal fourth quarter earnings beat and this is important, posted its second largest quarterly revenue in company history. what have they been doing right, and is the future as bright? joining us live now from the valley, hewlett packard enterprise president and ceo antonio nari. he's smiling here. how are you able to accomplish these gains at the very time when similar companies software is a service have been unable to do that and they've been struggling? >> well, liz, good afternoon. thank you for having me. we had an outstonding quarter and deliver -- outstanding quarter and delivering key metrics across the board and that's the hard work we've put

through the last couple of years through the pandemic and now in 2022672022. it's a combination of -- 2022. there's a strategy in the market taking flight and the center is the people of the service and platform is hp green lake is the cloud that comes to you. second is we continue to see enduring stated demand for products and services that we deliver to the platform. we executed exceptionally well. ultimately what i'm readily proud of is our culture is more vibrant than ever and a testament of that is employee engagement core and we're focused and executed and deliver endurable and delivering profitable growth for shareholders. liz: you are producing enduring and you've done it rather quietly, and i don't mean this in a bad way but hpe doesn't get nearly as much attention as a lot of other s sas company, software as service company but

you beat analyst expectation with software outlook next year. my outlook is many have been cautious about the first half of 2023. what's your secret sauce? >> well, tuning fork things, first of all, we talk -- few things, we talk about micro, we see volatility in the foreign exchange and 45% of revenue from outside the united states. second is obviously we see inflation. we see hike in interest rate but on the other hand what our focus is the micro. it's our own ecosystem and invasion to meet the customer needs and exceed them in a way others can't honestly. we have a diverse portfolio from the edge where we live, where we work, where the action takes place, where the vast majority of the data is created all the way to the cloud, and we deliver a hybrid experience that you can pay as you go. i got a question today about how europe is doing.

europe is doing very well for us and that tells you we are really well positioned to meet those needs. liz: let me drill down on how you say you're providing so many great things for your customers. many of your customers are slowing down. they are holding back on the spend. we have seen that with many other companies so do you take that in effect and modeled for that part of it for the first part of 2023? >> well, liz, we exit 2022 with an order book significantly larger than we entered 20226789 that gave us the -- 2022. that gave us the confidence that the demand is out there and unique to products and services. if you look at our performance in the networks or h space, we grew 18% in actual dollars, 23% in constant currency. look at even compute business, grew in excess of 20%. our flagship platform, when they

get on the platform and customers get on the hp green lake plat for the purpose, they get what they need and consume more. that's driving a lot of momentum is the experience, which is very simple. it's the consumer model and information to extract data. that's where the action is to drive business outcomes from the data. liz: antonio, we were hearing second, third quarter all of these companies complaining about the stronger dollar, the dollar has complete -- well, not completely. it's not completely and let me catch myself. the dollar reversed. it's on track for the biggest monthly loss in ten years. still up about 10% for the year, but tell me how that is going to hopefully, i guess, bump up your business because as the dollar weakens, makes it easier for foreign companies to buy your service.

>> welt, our performance in 2022 is even more impressive when you think about the fact that 65% of revenue come from outside the united states where the euro, the yen and pound are significant throughout the year and we cover 12-cents, you know, head wind in earnings per share because we deliver record breaking performance of $2.02 and then we also cover the forced exit of russian belarus, which was another 5-cents and cost $150 million in free cash flow. if you put that all back, it would be even more impressive performance but as the dollar weakens or kind of revert a little bit, that's a tall win for us because 55% of revenue is from outside the united states, and we factor owl that in our guidance for 2023. we believe we're entering 2023 with an amazing momentum. liz: what's amazing is your stock up 8.09% at the moment and climbing along with the dow jones industrials, s and p,

nasdaq. s spe&p, antonio, thanks for cog up and sharing with us today. >> thank you, liz. liz: the looming railroad worker strike is turning into a nail biter at this hour as congress rushes to avert a shutdown. the stakes are very high. a rail strike could cost the u.s. $2 billion per day with consequences reaching all the way to farms that grow the food americans eat. we're about to take you down on the farm to show you how real a rail strike could get for you, your investments, and agriculture sector. closing bell 35 minutes away. we're hitting new session highs almost every minute. 540 now and new session high for the dow, 536. and, s&p up 96 points and that's the session high. nasdaq up 388, close to session high and the russell, not bad for the small and mid caps up 34

points. we are coming right back on a rocken rally day.he ♪ se

liz: breaking news, the house has this afternoon passed two vital bills to avoid a national railroad worker strike that could cost the u.s. $2 billion a day. the legislation now heads to the senate, which is likely to pass

this and then force railroad companies and the 12 unions to accept a tentative labor agreement. it gives railroad workers the 24% raise over five years but then adds in seven days of paid sick leave, which was the top demand four of the 12 unions said if it wasn't in there, that's a deal breaker. president biden urging a senate to a vote this week to beat the december 8 deadline to avoid a colossal railroad shut down and derail supply chains critical to the nation's infrastructure. the country's food supply. madison alworth at a farm in new jersey where the railroad strike could up end their ordinary personses. madison. reporter: -- operations. reporter: liz, yeah, the main foe sufocus is fertilizer and 5f fertilizer used on american farms is transported by rail and

they're watching that deadline. the concern is even though we're seeing some of the political movement, it might not be quick enough. like you said, the rail strike, that would happen by the end of next week but fertilizer shipments are set to stop this sunday, december 4. the reason being is preventative measures. if fertilizer got stuck on a rail, it would be near impossible to get out of the cars and would harden and not a good situation, which is why they need to end preventatively. the fertilizer institute telling us the stop on sunday and looking into alternative transportation means and we cover it all the time, you take rail offline, trucks, you would need half a million trucks to replace that rail and not feasible in the current environment. talking to farmers about the fertilizer, they couldn't imagine the price going up even more. here at cassaday farm, there's been an increase of over 100% the past year and increase cost of fuel and war in ukraine is the biggest factors. if there was a strike, an

additional 150% increase in price. they couldn't manage that . >> the impending cost that farmers are facing, especially vegetable farmers and labor intensive farmers, we're under a crunch and we're not going to be able to make it. reporter: liz, we're at a farm and this is one of the larnest vegetable producers in new jersey so this is truly if you live in the state, this is probably where you're getting your sweet potato from. when you look at this, fertilizer being inacceptable or cost going up and it's coming down to the consumer driving up all the costs and the big thing i want to come across with this report is we're seeing movements in politics. there could be a strike prevented but depending on how fast that happens is the big key because fertilizer will stop this sunday if we do not see a change. liz: wow. reporter: liz. liz: yeah, that's sooner than certainly what the other deadlines are. we're watching it all, madison. by the way, for those of you who

don't know, i talked all about this grim railroad situation on tiktok and we have all your headlines but this is focused upon the railroad situation and, yes, i was wearing my italy soccer shirt and i got great, grief from people about that because they're not in it. sorry. yes, we talked about what is at stake, who wants what, and why this paid sick leave matters so much to the rail workers. follow me on @redfoxliz on tiktok. we have the dow jones powering higher by nearly 600 points. we're up 589. the s&p up 104 and counting. nasdaq up 416 points. from the farm to the kitchen table, hormel foods, maker of spam and skippy peanut butter turning sour down about 3% after reporting third quarter revenue declined from a year ago and came in below analyst expectations.

during the latest quarter, hormel said customers bought fewer refrigerators but spam isn't refrigerated? right? neither is velveeta. volumes in the segment down 19% and they also bought fewer jennie-o pro pro pro products ay peanut butter if that category and sales were up due to price increases. that doesn't make sense. sales are supposed to go down when price goes up. from humans to pet, petco health and wellness company ticker woof announced a partnership with stella and chewies to bring healthier dog and cat food to carriers. the stock is up 16.5% today and on pace for the largest percentage increase since june of 2021. this move also comes on the heels of petco's better than expected third quarter sales.

horizon therapeutics. this after the company confirmed it is in preliminary talks to be acquired by amgen. this is a winner, 26% to the upside right now and they'll be acquired not only by amgen but santafi, john johnson & johnson in a deal worth $20 billion. horizon developing a drug for inflammatory and immune diseases. on the nasdaq 100. there's really only a few stocks but most cyber stocks, cybersecurity stocks and under a bear attack at this hour led by crowd strike. crowd strike on pace for the worst percentage decline ever for the company after warning that clients were curving spending in delaying purchases due to the economic slow down so crowd strike falling 15.13% and a lot of other, s&p, nasdaq losers here. down betapen tear from crowd strike and z scaler dropping

1.9% and sentinel 1 down 6.8% and palo alto networks down after a her sent. inflation at still 40-year highs, companies are getting so sneaky at how they fill their product packaging now or don't fill. up next, you have got to hear from this guy. we're speaking to the man who's dedicated his professional life to measuring, comparing, and tasting his way through the shopping aisles to expose shrinkflation and unveil the art of manipulating products so you can pay the same or more for lesser quantities and consumer founder edward duarski joining us with the latest examples of downsized items he's recently outed. can't wait. guess what, i already know some of these and they're in my fridge. this week, we are revisiting the

story because, you know, as we head into the holiday season, josh kilmer p pursel and one otr is the beekman boys after losing their jobs and no income, they put two brains together and turned weekend home into a new source of income for the goats that were roaming the property. hear how america's favorite goat soap brand was born from this idea on everyone talks to liz podcast. yes, just hit 1 million downloads this year alone. get it on google, apple, spotify, wherever you get your podcasts. closing bell, we're about 33 minutes away -- no we're not. i can't dot math in my head. 22 minutes away. i'm squibbinged -- geeked up about this dow jones industrials pop of 600 points. nice move here. we're coming right back, don't

go away.

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prices should begin to exert downward pressure on overall inflation in coming months. liz: federal reserve chair jerome powell predicted today the price of goods could eventually soften, come down. companies are resorted to coping with higher materials and shipping costs through a devilish little practice called shrinkflation. it's the practice of reducing the size of a product while maintaining or raising its sticker price. they kind of hide it hoping you don't notice and most of us wouldn't notice if it weren't for the man who's making it his mission to uncover the dastardly practice by measuring, comparing

and outing the companies resorting to shrinkflation. it's edward dworsky and founder of consumer world and mouseprint.org and they do reveal but the print is so tiny, only a mouse could read it; correct? >> exactly right. the print is so small on products you need a magnifying class times to see what you're getting. l you're our ma magnifying glas. how have you noticed the product and process increasing lately? this practice of the companies that are shrinking down the amount of food or product within a package but keeping the price the same or sometimes even raising it. >> well basically, manufacturers are facing inflation and increased costs and they have to figure out a way to pass that onto consumers. the three basic ways to do it. they can raise the price but they know, you know, consumers are going to rebel and maybe switch to a competitor brand.

they can reformulate the product using cheaper ingredients and i call that skimpflation or make the product smaller inconspicuously and hope the consumer doesn't notice and a way to pass on a sneaky price increase through the backdoor. liz: they've gotten even sneakier in certain ways when it comes to actual ingredients, and they balance or try and mismatch some of the things that are more expensive. let's bring up your first example and it's smart balance. this is made by conagra. it was 64% vegetable oil. vegetable oil has gotten extraordinarily expensive. so now same packaging, same word original right there, but what's the vegetable oil content now? >> well, the new vegetable oil content is 39%. that's almost a 45% decrease in the original product, oil was

the first ingredient. in the new product, water is the first ingredient and they've literally watered it down. i checked before we went on the air. the conagra website for smart balance has over 1900 one star reviews out of only a little over 2,000 total reviews. consumers hate it. liz: o my goodness. conagra. edgar dworsky --->> i will tell you, liz. liz: go ahead. >> the company heard the complaints and said the reason we did it was to make it easier to spread. give me a break. you know, load margarine with water, of course it's easier to spread and it fattens your bottom line and they said by the beginning of the year, they're bringing back the old farm la so they actually -- formula so they heard consumers complaint and did something about it. liz: i'm wondering what about

charmin. it's a kimberly-clark product and it's hard to see, mouse print, but the old charmin had i believe about 264 two-ply sheets. what about the new one on the right? >> the new one has 242 sheets and lost 22 sheets on a roll. in the packages that you see on the screen, those 12 packs, it's like getting 11 rolls. proctor & gambling has been -- proctor & gamble has been doing this forever. charmin came out in the 1970s, remember mr. whipple, please don't squeeze the charmin and the on onlial was 650 -- originl was 650 single ply sheets. liz: i misspoke, i said kimberly

clark but it's proctor & gamble. let's goat to pete's coffee. pete, say it ain't so. before and after. >> well, remember when coffee came in one pound cans. that's long gone. pete's coffee case, the bags were 12 ounces, now they're 10.5. so you lost 12.5% of the coffee in those tiny bags. liz: wow. and the price? >> price stayed the same. increases over time just like everything else does but usually at the time of shrinking, the price stays the same. it's very hard to get both the old and the new products on the same store shelf at the same time to double check prices. liz: finally, unilever seventh generation and before and after what did you discover, edgar?

>> the old one was 100 ounces and got 66 louds and the new one is 90-ounce, 10% less and only gets 60 loads. to me, look at bottles and i can't tell the difference. they look the same and wish we were superman and had x-ray vision to see if it's really maybe not filled up with that extra 10 ounces. or did that do something and norrow the bottle? narrow the bottle. a lot of companies are clever with packaging and make it look about the same size even though it contains less. liz: edgar, i applaud what you're doing. we need consumer advocates like you and everybody should check out consumerworld.org and mouseprint.org and check those labels. thank you so much for joining us. >> thanks so much for having me on, liz. liz: by the way, we both worked at whdh news channel 7 in boston. different types.

the dow needs to finish up more than 618 points to exit bear market territory. we're not that far actually. it's up about 621 points. up next, charlie gasparino has breaking details on the ftx collapse. closing bell, 10 minutes away and, boy, these numbers are still holding. we have a very strong rally today on the back -- yeah, there you go, 610 points climbing for the dow jones industrials on the back of jerome powell's positive comments about maybe slowing the rate hike pause -- rate hike pace rather in december. ♪

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will announce big market structure reforms as we've been reporting. i'm hearing from sources in the industry, they think, they don't know this for a fact he could pivot and move on to crypto because he is facing a really difficult situation right now. lots of stuff swirling around in congress wanting him to sanction crypto exchanges. you tell them exactly what stuff to trade and what not to trade, everything that the new york stock exchange and nasdaq has. he is under that pressure right now. liz, i will tell you the sam bankman-fried interview with deal book, with andrew sorkin is amping up that pressure. we're hear straight from the horse's mouth his side of the story or his spin of the story, you know, whether he was guilty or not, whether it was a mistake and this is going to add more pressure to it. let's get a couple headlines out

of the way. yes, there is some talk about pivoting away from that. he had planned this new market structure rules but he may go to crypto and he could be forced to do a couple things, enact rules, force existing exchanges to basically do what he says, go to coinbase, go to cracken, whoever essentially anoint iex, that was going to do the joint venture with ftx before this blew up. by the way if he approved ftx, i.e. g crypto exchange you can imagine what mud would be on gary gensler's face right now? it would be bad. liz: bitcoin is up 3.6%. >> where is it at? liz: 17,051. >> that is interesting. there is a theory that bitcoin will benefit from you know, from the decline here in ftx and some -- larry fink came out in the deal book conference, said every crypto will go out of

business. he said that -- liz: he did. charlie, thank you very much. charlie gasparino. we have a minute 1/2 left here. cio, ceo of summit global invests dave harden four billion in assets under management. what is at the heart of this rally? what was it that jerome powell said that the dow up 658? >> happens again, lower interest rates ahead. liz: and do you get the sense now to time in and jump in on some companies that have come down dramatically and i'm really thinking tech? >> tech is definitely a winner today. you see that in the nasdaq. it will rally a little bit with this announcement and for lower rates possibly in the future. liz: do you like conocophillips, cvs and fidelity national. those are not heart of the technology world. i want to focus on conocophillips. oil is behaving in a interesting way. much bigger than expected drawdown. give me an eye on conoco.

>> better top line earnings, better than consensus. a great yield. they put a lot into that. if you own energy definitely consider conocophillips. liz: finally, when do you think the fed will pause, not slow but pause? >> it seems like that is ever going moving target. so you know, my crystal ball is kind of very gray right now but i would say i would say probably the first quarter at the rate they're going now. liz: hey, great to see you. david harden. [closing bell rings] by the way folks, we are closing at session highs. a huge powell push here. 700 points for the dow jones industrials. the dow exited bear market territory. green on the screen. we'll see you tomorrow. ♪