has indeed frozen over. another comment, make a fair market stop pleasing the 1%. another one, and they will say they feel as if the current system is in favor of protecting a smaller investor, years of waiting on proposed reforms is never a good sign. more of a tactic. all i can say is keep fighting the good fight folks. listen, it's not going to happen overnight. there's some extraordinarily powerful forces. one of the big problems of course is people from big business go to government and then from government back to business big and along the way they forget about who they are serving and in this case it's the individual investor. i say this as i hand it over to cheryl in for liz claman. buckling up for looks like we have a pretty intriguing last hour of trading. >> cheryl: looks like we'll actually have an up day finally for the dow which is good news charles thank you so much. markets are ticking higher final ly making a comeback after multiple days of declines but losing a little bit of steam at

this hour after the ftc moments ago officially sued to block the $75 billion deal between microsoft and activision blizzard. we are going to have more on that breaking news in just a few moments for you, but first, it is foreign affairs that are dominating the headlines today after the white house confirmed wnba star brittney griner has been released from a russian prison, swapped for international arms dealer viktor bout, griner is currently on a plane home to the united states after the switch was made in the united arab emirate. this comes after the basketball star was sentenced to nine years in a russian penal colony on drug charges. the white house also reviewing the future of tiktok. as states express more concern and pressure the administration to dig into its privacy practices and the companies ties to china. that national security, let's go live to edward lawrence at the white house with more on all of

the headlines crossing right now edward? reporter: yeah, two very big stories president joe biden says that brittney griner will be back in the united states within the next 24 hours. now, as brittney griner is coming home, paul whalen another american detained in 2018 will remain in a russian prison at this point and will stay there, you know, until they can work it out. here is the president. >> we've not forgotten about paul whalen who has been detained unjustly and this is not a choice of which american to bring home. we brought home trevor reed when we had a chance earlier this year. sadly for total illegitimate reasons russia is treating paul 's case differently than britneys. reporter: the whelan family is releasing a statement saying there's no greater success than for a wrongful detainee to be freed and for them to go home. the biden administration made the right decision to bring ms. griner home and to make the deal possible rather than

waiting for one that wasn't going to happen so the u.s. gave russia viktor bout. nicknamed the "merchant of death " convicted for selling 800 surface-to-air missiles to terrorists to use against u.s. military helicopters. this news comes after more states are now banning tiktok because of possible data sharing with the chinese communist party tiktok owned by a chinese company, maryland governor larry hogan says the federal government agencies warned him about the dangers of tiktok. >> what i'm wondering is what the federal government is waiting on, because they are the ones that are issuing these warnings and talking with our leaders at the state level and yet they aren't taking action. reporter: so the review is underway by the treasury department or taking the lead from the treasury department and treasury spokesperson says that there is no comment on when that review could be finished. back to you. >> cheryl: certainly when are the chinese going to agree or not when it comes to the oracle servers. there's a lot more. reporter: they are negotiating

back and forth and there was a deal there but still concern, apparently, according to sources that i'm hearing, about that privacy about how much access the chinese government actually has to this data. >> cheryl: exactly. it's a lot. edward lawrence thank you very much. we really appreciate it. well, sticking with the news from edward, saudi arabia did lend a hand with brittney griner 's release, along with the united arab emirate. the two nations reportedly help ed broker the deal with russia, but today, saudi crown prince mohammed bin solemon welcomed chinese leader xi-jinping to the oil rich nation deepening economic ties between the two which includes a cloud computing deal with another company, the u.s. deems a national security threat huawei. saudi arabia and china citing 34 deals worth some $30 billion, but that may not be the only major economic deal that the saudis are a part of. liz claman has learned it's the

2020 abraham accords which establish relations between israel, the uae, bahrain, morocco and sudan that may soon count the saudis as a new partner. liz caught up with former israeli ambassador to the united nations today in rome and she follows this report. liz: here in rome at the abraham accords global leadership summit where they are celebrating the second anniversary of the breakthrough pact between israel, bahrain, uae, morocco and of course sudan. of course before the accords, there was tension and out right aggression amongst some of these nations but today, it's about the three t's, trade, tourism and technology. in fact, by the end of 2022 and we're almost there, the uae and irs will have signed and passed the threshold of some 2.5 billion in trade deals, but many muslim countries are waiting for the biggest of the big fish in the region to sign on to the accords and that of course be saudi arabia. today at the summit, you actually put a point on the

calendar as to when the saudis could possibly sign on to the abraham accords. you say within one year. what gives you that confidence, danny? >> liz, i speak with my friends in many other capitols and i feel that they already know it's the right decision for the saudi s themselves and what we are doing with them, amazing things. just imagine what we can do with the saudis with economic tourism and fighting from tehran. liz: and this audience here, in rome, sat on the edge of their seats. you have 40 countries, ambassadors, representatives, are dying to know what would that look like. can you get a little more specific about what kinds of economic and business relations israel could have with the saudi s one-day? >> so you have to look at the map and the magnitude of the saudi arabia, the economy of saudi arabia and things we're combining with the innovation in israel with the start-up mentality, what we can achieve and that's exactly what we are doing in rome today.

we think about ways to help other country countries, not the east, they are a source for problems for so many years and here we are talking about how we can, together with the growth countries, help other nations all around the world. liz: and do you get the sense that the saudis will give a certain kind of signal where you can then say that's it. they're going to join the abraham accords. >> well i think we have seen a few signals. the fact that today you have the israeli airlines flying over saudi arabia, the fact that we have been doing things quietly, so i think when we see something public, that will be a great sign. when we have some kind of a delegation coming to tel aviv or jerusalem or one of our dignitaries will arrive, then we can say we've got there. liz: you talked about doing things quietly. i remember back in 2019, obviously, i wasn't there. i wouldn't know but you were meeting with the uae

representatives undercover of darkness, very very discretely. here we are, fast forward to the time when that first ll flight from israel directly landed in the united arab emirate, also bahrain. this is incredible. how have those tourism and those flights really played out as far as the economic picture for the middle east? >> the last two years i flew more than a dozen times to the uae and bahrain and i think about my first flight, when i had to come in cognito. no one could know i'm coming to the uae and we have 14 flights a week from tel aviv to daniel by, flights to abbey abu dhabi and it's only the beginning and we love to see the bond and when we go there people are happy to see israelis. liz: you also announced today that the first state visit that prime minister benjamin netanyahu will make will be to abu dhabi. what is the significance of that >> so in two weeks time, we're

going to have a new government in israel and one of the signals to the prime minister will do is to fly first thing to abu dhabi to tell our colleagues we are continuing with what we started. it's very symbolic because we lost the elections and netanyahu couldn't go as the prime minister to abu dhabi and now when we won again, it will be on his agenda and we will continue to speak with him about collaboration, economy, ties and working together. liz: the abraham accords were brokered by the trump adminitration in great part. in a word, can you describe the biden administration's relationship with israel today? >> so i think that it's important not only to israel, but it's important to the u.s. and i would advise the administration to be part of that, to actually support the process, because if you have stability in the region, you'll have stability in the world, it's good for the american people, it's good for the economy of the u.s. , and i hope to see more

involvement coming from the administration. liz: but you know politics, and that was a trump adminitration success. do you get the sense that the biden administration wants to put its on the future accords and they be interested in broker ing this relationship eventually between israel and the saudis? >> so we know politics. it is okay if we do not call it the abraham accord. they can brand it differently but we care about peace. we care about building bridges, and i think it will be a great thing for president biden to be more involved in the region and to help the israelis and saudis to come to a point where we sign another treaty in washington d.c. liz: do you really think it'll come to that that they will be okay with it if the name changes >> i hope so. i hope it will happen, but i'm optimistic about us doing things with the saudis, even without the administration. it be easier, faster, and i think the u.s. should be involved, but we are determined to move forward. liz: in the end, what is your biggest goal for the abraham

accords? >> it's peace in the middle east with everybody. liz: danny, thank you so much. >> thank you very much, liz. >> cheryl: liz claman, thank you so much for that report. well, bad news for the american worker seemingly good news for market watchers. our floor show traders are here next as the s&p 500 aims to breakout of its five day slump and taking a look at the big board at one point the dow is up over 300 points right now. we're up about 94, we shall see how the next 50 minutes play out. the "clayman countdown" is 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. well invested. well protected.

>> cheryl: we've got a fox market alert breaking news within the last hour, the

federal trade commission is suing microsoft to black its planned $75 billion acquisition of activision blizzard. the ftc says the deal would enable microsoft to suppress competitors to its xbox gaming consoles activision blizzard, the stock slipping on this news, the stock is down a little more than 1.25% right now the microsoft stock holding steady up about 1%. the video game company ceo issuing this statement just a few moments ago. he says this sounds alarming, so i want to reinforce my confidence this deal will close. the allegation that this deal is anti-competitive does not align with the facts and we believe we will win this challenge. also, just moments ago, microsoft's vice chair and president also releasing a statement echoing saying, "we continue to believe that this deal will expand competition and create more opportunities for gamers and game developers. we have been committed since day one to addressing competition

concerns including by offering earlier this week proposed concessions to the ftc and to be clear here obviously the companies knew this decision was being handed out and they had those statements ready to go okay taking a look at your markets overall right now the dow, the s&p 500, the nasdaq trying to claw their way higher at this hour, although the major averages have come off of session highs, and in particular , following on the report of the ftc suit. microsoft a big piece of this. taking a look as you can see there is the dow still up 107 points at one point we were up up 301, we're not at session lows certainly but still, higher at least in the triple digits, s&p 500 that is luckily trending higher. the s&p right now is up by 23 points, now that nasdaq. the nasdaq at one point was up 160 points is now up 111 so pretty close there. russel 2000 is also trending higher. okay, well if you look at

markets for the week, the dow, s&p 500 the nasal down more than 1.7%. the s&p 500 at least is trying to snap a five-session losing streak and the nasdaq is looking reverse four days of declines amid its 264th trading day without a new record high. the markets reacting at least positively to those initial jobless claims we got out this morning at 8:30 a.m. eastern time. 233,000 new jobless claims were filed for the weekending december 3. this was in line with estimates but up from last week. bad economic news, really good news for the market. all about the fed and that labor market, right? well china stocks are helping to fuel the rally. china is continuing to ease covid-19 restrictions. china's national health authority has now said that a symptomatic covid-19 cases and people with mild symptoms can quarantine at home, investors view that as a big step in the

right direction. little pressure though we should say also because of that foxconn situation over there. casino operators are getting a boost on that same news. las vegas sands, mgm, wynn, remember macau, they've got big exposure over in china, and a few names to keep in eye on for you ahead of earnings coming out. we're keeping an eye on lululemon, stock is higher by a little more than three-quarters of a percent right now. docusign, broadcom, costco, all reporting after the closing bell today. that's going to be interesting. for more on what's moving markets right now at this hour let's get to our floor show, joining me now, prosper trading academy scott bauer and summit global investments david harden. scott, i'll start with you because look, i was looking at the oil patch today, and oil, because of where we closed atria least for the contract 76.15, that's at a december 2021 level, but you still are bullish on

energy. explain that. >> no, i really am, because i think that there's too many macro things going on out there where there's somewhat of a floor for crude quite frankly, and a lot of that is coming out of china, right? they are just maybe starting this reopening again so demand has been really awful. in addition to that, cheryl, you know, you look at opec. opec in my mind over the next three, six months or so, they're not going to let prices fall. i just can't imagine that they are going to do anything that is not going to support the price of crude so when i look at some of these stocks that absolutely had a fantastic run for pretty much the entire year, take a stock like marathon, mpc, eog resources, maybe a devon energy, occidental petroleum, when you look at the drawdowns they have had over the last few weeks maybe the last month or so as crude prices have come down to those

yearly lows here, i think that gives some great opportunities and great entry point, specifically in those stocks, where i think we could see 10-15% gains in those maybe over the next three months. >> cheryl: interesting that you say that and david, i want to pick-up with you on that issue because let's go back to the china reopening story. again, the big demand picture in china, if the reopening does happen, that is going to be a bullish case for oil on a global basis. it's also going to hopefully unlock a little bit of the supply chain, so and maybe it's the right thing to do because these people are suffer ing. your reaction. >> well of course. i think that it's a good thing. we've been through it in the u.s.. it's time they get through it, and open up as well and that is good, i agree with scott. we're very positive and if you take a company like conoco phillips, for example, they've been tremendous on their top and bottom line earnings. above consensus, they are extremely favorable yield, still

a lot of value there. these companies are up 40-60% and yet, oils off 30% from its highs, so i do think that not only from a macro perspective into the sector but also some very good stocks within energy and that's just not the only story besides china, right? there's other stories out there as well with ukraine and russia, so we know there's a lot of, if you will, tailwinds here. >> cheryl: yeah, that's interesting. i want to pivot back to the breaking news we brought to everybody at the top of the show , which is microsoft, activision blizzard fight, and scott i'm going to go back to you on this , because obviously, the companies ready to go with statements. they knew this decision was coming down. in particular, an executive at microsoft in his statement saying we gave concessions to the ftc. what do you think is behind the push to block this deal? because let's be clear here. this space, gaming, is very competitive, so i'm trying to figure out why the government thinks that this deal is anti-

competitive. >> yeah, i'm not really sure, cheryl. this has been in the works for such a long time, and we're down to d-day on it, and i don't really understand it. i really don't, but you know if you look at both of those stocks , i think it effects microsoft less than it does activision blizzard. if you look at that stock and let's say that for whatever reason the deal doesn't go through, this stock probably heads back towards 60 bucks or so which is where it was trading before the deal was announced, what seemingly was a year, 18 months ago or whatever it was so i'm not really sure. i don't know what they're looking at here and quite frankly, i don't see how as you said this is anti-competitive. >> cheryl: it could be political. david real quick, last word. >> hey, i just think that this is a cautious market and you need to be aware of the risk s that are out there and these downside protections that you need in the market today are prevalent and this microsoft

deal is just a perfect example of knowing what risks are in your portfolio to be able to protect your return. >> cheryl: all right gentlemen great to see both of you scott david we appreciate your time great floor show, thanks for getting on that breaking news. well, robots are ready to drive farming into the future. yeah! coming up next, the ceo of cnh industrial here to tell us how his autonomous farmer equipment is changing the american breadbasket. this is a fox business exclusive , and taking a look at the markets real quick as you can see dow higher by 137, s&p up by 26, nasdaq up by 123. we'll be right back.

at adp, we understand business today looks nothing like it did yesterday. while it's more unpredictable, its possibilities are endless. from paying your people from anywhere to supporting your talent everywhere, we use data driven insights to design hr solutions and services to help businesses of all size work smarter today. so, they can have more success tomorrow. ♪ one thing leads to another ♪

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

- "best thing i've ever done." that's what freddie told me. - it was the best thing i've ever done, and- - really? - yes, without a doubt! - i don't have any anxiety about money anymore. - great people. different people, that's for sure, and all of them had different reasons for getting a reverse mortgage, but you know what, they all felt the same about two things: they all loved their home, and they all wanted to stay in that home. - [announcer] if you're 62 or older and own your home, you could access your equity to improve your lifestyle. a reverse mortgage loan eliminates your monthly mortgage payments and puts tax-free cash in your pocket. call the number on your screen. - why don't you call aag... and find out what a reverse mortgage can mean for you? - [announcer] call right now to receive your free no-obligation info kit. call the number on your screen.

>> cheryl: well,s hadcnh industrial is putting on a show for investors and farmers alike with its first-ever tech day, the showcase event will show off the agricultural technology companies most innovative solutions to farming in the 20th century, 21st century excuse me including fuel alternative solutions for large farming equipment and the industry's first driverless sprayer. the second day of the event happening right now, just outside of phoenix, arizona, and that's where ceo scott wein joins us in a fox business exclusive. great to have you here. >> cheryl thanks for having me on exciting time here in arizona >> cheryl: talk to me and give

us a general sense of how far technology has come for the american farm. >> you know, the investments that have been made have been significant and we did announce the acquisition of raven industries last year, and that really leap frogged us in terms of capability to bring autonomous solutions to our farmer and that was on full display this week out in the fields. we had an autonomous sprayer, an autonomous tellage units, autonomous grape harvesting unit s, autonomous tractors and grain carts. we really showed how quickly we can adopt this technology and adapt this technology to the benefit for our farmers and one of the highlights of our tech day really for me was brady fall man, for the past six months has been using this autonomous t illage equipmen t to get the most value and productivity from his farm and getting feedback on how the value he's getting in on how much more he wants more from us is exciting and good for our

investors to hear. >> cheryl: and farmers have been so under pressure whether it's because of fertilizer cost, input cost in general which is part of what the american farm federation has reported, that input costs are one of the biggest issues but also labor costs, and i think that's where the autonomous equipment and that spray erin particular comes in. i mean, it looks like they are going to be paying these higher wages into 2023. we still have a tight labor market. what are they telling you about how much this could help their bottom line if they've got autonomous farm equipment? >> well, you know, autonomous is really beneficial because it takes the need for operators out of much of the equipment but the other thing that we highlighted this week was the industry-leading automation we have which allows the machine to have many of what would normally take an operator a very sophisticated and experienced operator we can now put a much lower cost operator with much less experience and get the maximum benefit from the machine through our

automation so it's that combination of automation and autonomy to be able to do it without an operator that really is bringing value to farmers. >> cheryl: even a novice like me who hasn't driven a tractor since she was 15 could actually make this happen, that's encouraging for me. let me ask you about this though this tractor that runs on methane. 100%, obviously oil & gas with prices where they are right now and that's been a big crush for these farmers, how big of a differential is that financially for them? >> well it's significant. not only because we've got a large presence in europe. it's a $7 billion market for us and what we're excited about is not only did we launch a methane tractor but the partnership we have which allows us to provide farmers, we have an operating farm in cornwall, southern england, where we can capture the methane from a slurry pit, clean it with the tools and machinery they have and then use it to power our machine and

generate power electricity from the farm, so get about a 30% savings in fuel but ultimately in a negative carbon environment , so we're really excited about what this means. we've got it in use with a farmer right now and it's really how quickly can we industrialize the technology because so many farms whether they are dairy farms have slurry pits and all we can do is capture that methane, clean it, use it, both lng proven capability we have from our former sister division fpt, so we've got the engine technology and are excited about our ability to bring lower cost, more sustainable solutions to farmers >> cheryl: that could be a real game changer for the industry. very interesting, scott, thank you very much for being here. we really appreciate it. >> thanks cheryl have a great day. >> cheryl: all right you as well. all right, real quick taking a look at your markets right now. we are looking at the dow up 150 points right now, you've got the s&p up 29 and the nasdaq up

right now. tesla stock kind of flat right now. there are reports that the ev maker plans to shorten shifts at its shanghai factory by about two hours, delay on dashboarding of the new staff at the plant. tesla's shanghai plant is racking up inventory as demand for autos in china hitting those lockdowns, tesla has not yet responded to the report, we should say here stock is down fractionally. other reports are swirling that the tesla twitter tie-up could become even more convoluted as you know, part of tesla ceo elon musk $44 billion purchase of twitter took on 13 billion of high-interest debt, so now, his bankers are suddenly considering new tesla margin loans to ease some of that twitter debt. tesla, that stock fractionally down. speaking of electric vehicles, today t-mobile announcing a multi million dollar deal with ev maker vin fast. t-mobile set to become the exclusive provider of connectivity, and smart ev's in

north america and in europe. the goal to partnership is to provide a more personalized in- car experience, enable more timely maintenance, service decisions, taking a look at t-mobile the stock down about 3.5%. network equipment maker sienna surging as you can see about 20% on pace for its largest percentage gain since december of 2019. they reported a top and bottom line beat for this latest quarter. company benefiting from what it calls favorable supply chain developments in the second half. looking ahead the company also is forecasting outsized revenue growth for fiscal 2023. there it is up 20%. all right gamestop shares coming into play despite reporting down the earnings. the video game retailer posting a loss in the third quarter that was steeper than analyst expectations. revenue also coming in below estimates but in true meme stock fashion. stock is up more than 10.5%, one to watch and then there's

express, acting a little bit like a meme stock at this hour. the stock is up about 40% in the wake of weaker than expected earnings. the surge in the apparel name comes after it entered a strategic partnership with whp global. the two are going to form an intellectual property joint venture, whp set to invest $235 million to acquire 5.4 million newly-issued shares of express. they are going to get that at 460 a share, express a buck 80 right now. all right, cleared for take off. the runway delivering for customers looking for flashy designer threadses and shareholders as its stock sky rockets after its third quarter report, ceo jennifer himan joining us next on the "clayman countdown." dow up 128. we were up more than 300 earlier we'll keep an eye on it and we'll be right back.

at walmart, save on thousands of gifts for everyone on your list. the savings are here all month long. plus get delivery on your gifts in as fast as one hour, right up to christmas eve. shop walmart online or in-store today. the day you get your clearchoice dental implants makes every day... a "let's dig in" day... mm. ...a "chow down" day... a "take a big bite" day...

a "perfectly delicious" day... - mm. [ chuckles ] - ...a "love my new teeth" day. because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation. ♪3, 4♪ ♪ ♪hey♪ ♪ ♪are you ready for me♪ ♪are you ready♪ ♪are you ready♪ get refunds.com powered by innovation refunds can help your business get a payroll tax refund, even if you got ppp and it only takes eight minutes to qualify. i went on their website, uploaded everything, and i was blown away by what they could do. getrefunds.com has helped businesses get over a billion dollars and we can help your business too. qualify your business for a big refund in eight minutes. go to getrefunds.com to get started.

powered by innovation refunds. punch up your portfolio with benzinga and world renowned trader chris capre. learn the lucrative options market and how to effectively trade in a bear market, starting at just 99 cents. benzinga, take control today at bzoptions.com in one second, sara yes! will get a job offer somewhere sunnier. relocating in weeks. weeks? yeah, weeks. gotta sell the house. don't worry, sell to opendoor, and move on your schedule. yes!

request a cash offer at opendoor.com

>> cheryl: well investors are strutting down rent the runways catwalk. the online fashion rental service the stock look at this up almost 64%, in the last hour of trade right now. it reported a third quarter revenue beat of 77.4 million for 31% year-over-year jump, and they posted losses in line with expectations, $0.56 per share but despite posting that loss, the luxury rental company said 28% of its subscribers paid more to add additional items each month. it's a good signal for investors that even with inflation still scorching our economy, consumers are taking out their wallets for retail alternative. to rent the runway co-founder and ceo, jennifer himan. jennifer thank you so much for being here, and i think what's interesting about this quarter and what you reported is it almost seems like we've got the story of revenge

travel, and we're seeing in this quarter, revenge going out, people are ready to get dressed up. they are ready to go out. they are ready to celebrate. that seems to be helping you. >> yeah, i think that we're really pleased with the strength across really the three ways that our customers use us. they are certainly renting for special occasions or special occasion utilization is at some of the highest rates but work wear demand has actually doubled year-over-year and 55% of the time she's using her subscription for casual everyday occasions so i think that the most powerful businesses are one where, you know, you have a diversity of use cases, diversity of customers and we're seeing strength in all of that in the business right now. >> cheryl: yeah, your subscribers are paying more to add items, but i'm curious, which obviously is part of the story here but i'm curious. what had you seen change with your customers post-covid? because everyone was in yoga pants and sweats, and now a lot

of folks are like, ladies i got to go back to the office and i don't want to spend thousands of dollars on new clothing. renting is a belter alternative. >> yeah, i think the customer is even more obsessed with value than she's ever been. she's really thinking about, you know, how often am i going to wear this item? does it make sense to own it? does it make sense as an alternative to rent it instead? and so we're posting this year, we've guided to 45% year-over-year growth and i think that's because value is top of mind and rent the runway offers significant financial value to the customer. if you rent a dress from us, you're renting at approximately 90% off the retail price so it's even more value than if you were to go to an off-price retailer and our subscription offers even more savings on a kind of per- wear basis. so that's number one. number two is that the customer is all about celebrating and we're seeing that in the fashion choices she's making. she's wearing really bold,

really colorful, really fashionable styles. it's actually the opposite of what we saw in 2020, and she wants to use every occasion to make a statement, whether that's going back to the office or whether it's going to a holiday party. >> cheryl: well you know lululemon is coming out with their earnings after the bell. i wonder if it's the opposite story of what happened with rent the runways corner, we'll see what they have to say. i want to ask, you mentioned the monthly membership so it's $ 94 a month for four items, $144 for eight, $235 for 16 items. how popular and how important are these monthly memberships to your company right now? >> so subscription is the majority of our revenue. we see our customers use this really as a substitute for getting dressed out of their closet or buying something new. our most popular plan is that middle tier plan where she's receiving eight designer pieces a month and she's getting for that $144, 20x the gmb value

so basically like multiply that number by 20 and that's the retail value of the items she receives per month, about $ 4,000 worth of designer clothing per month, so this is for the woman who wants and needs variety in her wardrobe, and we're seeing that subscriber s are using it for really diverse reasons so we have women who get pregnant who sign up for a subscription. we have women who get a promotion and sign up for a subscription, who are going on a vacation and sign up for a subscription so there's been a real diversification of who the customer base has been over the past few years. >> cheryl: stock jumping about 5% during this interview, jennifer, and again, you've had to do some restructuring and there was tough times at the company and on the other side, looking forward to seeing what happens in the next year. jennifer hyman, thank you for being here we appreciate it. >> thank you so much. >> cheryl: well, t minus one hour. 10 minutes before an important deadline hits and the ongoing

ftx fallout saga. charlie breaks the latest on sam bankman-fried. it's never boring. closing bell will ring in 14 minutes.

kevin, where are you?! kevin?!?!?.... hey, what's going on? i'm right here! i was busy cashbacking for the holidays with chase freedom unlimited. you know i can't believe you lost another kevin. it's a holiday tradition! earn big time with chase freedom unlimited. ♪ ♪

municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds

can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217.

>> cheryl: got some breaking news right now the sec is out with new guidance requiring companies that issue securities to disclose investors their exposure and risk to the crypto market. this guidance comes after one of the world's largest crypto exchanges, ftx, filed for bankruptcy. u.s. prosecutors have still not filed criminal charges against ftx founder sam bankman-fried and he is still in the bahamas. joining me now charlie gasparino charlie: i still have to get my hands around the sec, i don't think we know enough what it means. these are companies that have issued digital coin? >> cheryl: all it says is they are giving guidance to publicly traded companies about basically reporting your crypto maybe exposure or holdings? which the smallest amount of what we need right now. charlie: i can't imagine jpmorgan -- >> tesla is an example maybe. charlie: maybe they own a ton of

dogecoin but this comes as the backdrop of the ftx collapse and the continuing saga of sam bankman-fried and continuing calls of why he's not yet charged, and, you know, i've been talking with white collar attorneys, my sources are not in justice department but these are people that talk with the justice department, so it's kind of one step removed but pretty close, and i asked them. i said what's the holdup? two things, they have to make a case that's one thing, and there is some thought that they are waiting to hear from the bankruptcy trustee, or the new ceo. he's not really a trustee yet. he's kind of like the ceo. and what they're trying to figure out is the exact exposure of losses in there. if the losses, if all that money is gone, the theory is or if much of it is gone, and i mean gambled away gone, where you can't really claw it back, because it's in trades, the likelihood of a criminal charge before the end of the year becomes pretty

significant, and i think when is rays next thing, sometime this month, ray should be, so in the next couple weeks from what i understand, if you guys got an exact date please tell me about it. >> cheryl: you'll give an update as to what you're finding or not finding? charlie: that's where we will know exactly where everything is standing. >> cheryl: he has to report that to the bankruptcy court correct? charlie: yes, the delaware court and make that charge and we'll know that whether kevin o'leary the shark tank dude something like $9 million in crypto whether it's gone because remember he said today on the air that his wallet is wiped clean, and everybody else, and then it becomes a question of okay, does that sort of negligence lead to a criminal charge, if that much of the assets are gone and i think yes. the other thing i don't quite understand is how they can say something like 8 billion is gone

when a lot of that money was tied up in like crypto that has no real inherent value other than what sam bankman-fried was saying it was worth. >> cheryl. ftt coin. charlie: well listen what is something worth, whatever someone else is willing to pay for it. if for a moment ftt is worth $10 and all of a sudden it's worth zero -- >> but say that o'leary put in 9 million in cash, that's dollars, but we don't know. charlie: maybe he had 9 million in what he thought was ftt, and then it went to 1 million. we've got to see really what's in there, and then i think you'll figure out exactly how much it's worth, what the justice department, either way i think the justice department is going to have to if all this money is gambled away they have to create, they have to battle what's known as moral hazard. the consequence there's no consequence for risk because if you allow someone to literally steal someone else's money, even

if it was unintentional, just take it without a second thought and gamble it away, that's setting a very very bad precedent so that's why i think these attorneys, by the way there's a lot of attorneys involved in this case, not just representing defendants, but outside parties that are dealing with the justice department in the bankruptcy court and the new ceo, that's why they are saying watch what ray says in the next cheryl: to be continued. more tomorrow on this. charlie gasparino, thank you, sir. all right. well, closing bell is going to ring, we have got about four and a half minutes to go here. s&p 500 set for its first gain in six days, and a stock extending gains is carvana, stock is higher by about 27 the.5%. this comes after drastic moves to the downside yesterday taking 42%. that was the worst day ever for the used car retailer. keeping our eye on that one. they hold a lot of real estate, by the way, i want to adhere.

earlier told wells fargo predicting u.s. c cpi is going to fall next year to 3.8%, but as a whole, the economy is going to grow at 1 is.7% next year with, much lower than the 2.4 estimate. our closer has sector picks which are going to help you get lu what we expect to be tough -- through what we expect to be tough economic times in 2023. he currently managed $-- manages $3.8 billion in assets. i always enjoy our conversations. i think the big thing everyone wants to know is how can they protect themselves as we move into what is likely going to be a tough year for the economy. >> good afternoon, cheryl. yeah, i think that's what everybody's looking at. we've got some important data points coming up next week with the fed. on wednesday, cpi. we expect that to come in even closer, although we're beyond peak inflation, we think we're beyond fed peak hawkishness,

we've got a ways to go. so for sectors that we think that will do well, an environment that we're heading into next year, consumer staples is -- and really defensives. those recession-resistant sectors. and that's utilities, health care. we're focusing on kerr staples, and that -- consumer staples, and that's like coca-cola and those types of food manufacturers, archer midland daniels and then also health care. health care is a recession-resistant sector. people still go to the doctor during recessions, people still eat during recessions, and with utilities people will still heat their houses. and those are bond proxies as well as we see bonds continuing debt to do better and better as we move into the next year and we see that the fed is getting closer to the end of its cycle.

cheryl: and we are going to get another read on cpi next tuesday, producer price index number tomorrow. two more reports that, you know, ahead of the fed meeting next week. want to throw that out there. real quick, i want to talk about oil. you still like the energy if sector. i was watching oil today, and we settled a at a level we haven't seen since december of 2021, but you're bullish on the energy sector. why are you making that case? >> we're still bullish on the energy sector because of companies like chevron that can just, they are literally printing money. they had record profits in the second quarter, they're going to have record profits for the year. these companies are just flush with cash. they've been deterred from reinvesting going forward, so that money's coming through to shareholders. they trade at a low pe. oil being down, we're seeing energy stocks disconnect from the price of oil, and we think energy stocks -- even though

we're, you know, we had the most anticipated, most awaited, most forecasted recession ever in the history of the sock market -- the stock market -- [laughter] we think the energy producers still do well in the coming environment. cheryl: yeah. no, you're right. and i think the growth estimates, again, we mentioned wells fargo, what we see out of gdp next year is going to be a key driver. expectations are so low, that could be good news. david, thank you for being here. >> thank you. cheryl: all right. major averages closing higher. look at the dow right now, up 181. the s&p snapping a 5-day losing strike. finally, right? okay. that is going to do it for "the claman countdown." i will be back with you all tomorrow. "kudlow," next. ♪ ♪ larry: hello, folks. welcome to "kudlow," i'm larry ku