charles: all right, folks, quick check on these markets all your major indices are higher for today. maybe ryan dietrich is on to something. by the way we need bond yields to come down. so far they are cooperating today, and one of the themes today is demand. crude oil creeping higher keeping an eye on that. all i can say, liz, at least for today there is a santa claus liz: i know. although, i'm not quite ready to slap the santa claus rally sticker on it, charles. charles: okay. liz: not yet. we need to see a little bit more umph, but the reindeer kind of look like --

charles: you can hear the jingle bells. liz: yeah, exactly. we do have the reindeer lining up right on wall street as we start to see exactly what's happening here. if you take a look at the markets at the moment we do have the dow jones industrials up 510 points. the s&p up 55. we've got the nasdaq up 164, the russel 2,000 and that is the percentage winner here, not a bad picture up 1.63% for the small and mid caps which listen, you know, you've got to be calling out these things, because those indeed, those kinds of movements still actually have that message within them of what's moving and what isn't. now, look at nike. that is really "the rock" star of the day. we do have the nike taking flight. we need to show you that it is at the very top of the s&p 500, and the nasdaq, and the demand in europe and north america has been absolutely gangbusters for apparel and sneakers and if you look at some of the actual

competitors here, the rivals is not a bad picture at all. in fact they are getting caught up in that move here. we do have the analysts better than $12.7 billion for the revenue of course for nike but as you look at these names we do have everyone from addidas up 6.25% look at nike up 13%, puma up 6.25%, under armour up 5% and in nike's case yes, while shares have popped 40% this quarter, they are still down 29% this year, and 38% of the downside year-over-year and by the way, all of those names are down year-to-date and year-over-year. here is something we haven't seen in a while. carnival cruise right behind nike atop the s&p 500 since the covid lockdowns the cruise line is getting a pop of 3.6% after reporting a narrower than expected quarterly loss, thanks to cost controls, but that's good enough because investors are piling in at the moment and fedex, can we show fedex, adding

muscle to santa's reindeer team it's the number seven best performer on the s&p moving down earlier it was the number two- three, this is a classic case of under promised but over delivered wall street is cheering because the global shimmers quarterly profits came in at $3.18 a share while down way better than the expected 2.82 but revenue missed and fedex said on the call don't expect package volumes to improve over the next two quarters but shareholder prices improving up four and one-third percent and right out of the gate tesla dropped to a fresh 52-week low after the opening bell of 135.90. it's off that low and up just under 1% right now, but you know , the report is that the electric vehicle leader has told employees it will implement a hiring freeze and a new round of layoffs. ceo elon musk blaming not his mass stock sale made to fund the purchase of twitter, but macroeconomic conditions for the

61% drop in the stock this year, and now, he has publicly swiped at gerber kowasa ki's one of tesla's most loyal shareholders and defenders of the company, ross gerber will join us live and why he's now going to run for a seat on tesla's board. we'll get his reaction and we'll show you what elon musk said to him on twitter. i was quite shocked because you know, ross stripling a frequent guest here, but he's been bang ing the table on tesla for years really supportive but first with a rally in full swing , and the dow jones industrials almost all in the green, but for walgreens boots alliance which is down $ 0.85 let's bring in dutch masters of carnivore trading here on the market rally. you have fedex, nike, but we've got a banger of consumer confidence number for this month rising for the first time to 108.3 i believe the highest

since april. what is propelling this rally and what does it signal to you? >> well, i think it's really just a big rip up in a bear market rally and sorry to disappoint, but i think that fedex was actually not a big exciting thing. i think what they showed you was that their package volume is down and at christmastime that's a little weird, don't you think? liz: yeah. >> so i think the consumer price number is an anomaly. i think that the consumers have last gasp the final dollars on their credit cards. we know that credit card debt is at an all-time high. i think the consumer has gassed out and pushed it to the limit and slammed the brakes on and the fed is about to see that. liz: i am really surprised you think this move here is another bear market rally, but everybody is coming on this show and saying that we've got to test bigger lows here on the s&p 500,

and i'm talking about whether it's the october lows of this year, which i believe were around let's say 35.83 or the october 30 of 2020 lows of 32.69. is that going to be your signal, dutch, to start buying sort of on mass if we do drop to those levels? >> yeah, we shorted this rally today really really big, and what we're looking at is we're looking at a 36.10, 3,600 number as the next stop in the s&p and if it gets worse than that, a 32 , 010. the reason is that we don't think that the market is fully priced in a reduction in earnings across-the-board. it hasn't fully priced in a real recession. it's waiting for more data to see that. i think the feds going to continue to do what it's doing. we've got this earnings contraction that is coming in.

now big stocks like fedex and others like that that have like nike they have done a good job and they have a lot more levers that they can pull and a lot of other companies to find savings and sort of boost their earnings and stuff and bless nike for doing such a fantastic job and lowering their inventories and showing good numbers all the way around, but i think the real story is that fedex came out and basically showed us the canary in the coal mine and so we think that the feds about to see the consumer contract and is going to be forced to do a pivot here in the next three-to- six months. liz: pivot three-to-six although the fed chief said not in 2023. one quick look if we can at the volatility index, the vix, the fear index. no fear today it's down about 5% quick thought on this because market watch has an article that basically says you know what? until the vix says so, this drop in the markets is not done. >> yeah, i think we might need

to see some kind of a real blow- up. liz: a capitulation. >> yeah, some kind of capitulation. i'll tell you the thing we've been shorting a lot is the housing market. i know you mentioned that to me earlier when we were talking and i've got to tell you, we talk to a lot of mortgage guys and we talk to a lot of guys that own homebuilding companies and the chatter that we're getting from them, for example, one of our guys said he had a 25 houses that he wanted to have sold in the month of december in one of his markets and he has sold zero and we are two-thirds of the day through the month of december and the last two or three months he's had the same thing where he's had targets of 29 and sold like five or seven. liz: well, it's interesting to see the homebuilders all in the green. we'll be watching all of it. dutch, thank you very much. check the dow up 477 points. we've got to get to this tesla story. furious shareholders as you know we've been bringing you this story say elon musk the ceo

is distracted by his purchase of twitter for which he sold close to $20 billion in tesla stock this year alone to fund it. in a sign, the criticism maybe getting to musk, maybe, after long time tesla shareholder and defender ross gerber tweeted yesterday, "tesla stock price now reflects the value of having no ceo, great job, tesla board of directors, time for a shakeu" musk swatted back on the distraction accusation replying with maybe a touch of snark. "please tell us your great ideas , ross" and when gerber did , musk replied"go back and read your old securities analysis 101 textbook" but with the stock logging at 57.7% loss since musk bought twitter, ross gerber joins us live from l.a. on this twitter tesla and i have to say, ross, i was shocked to see elon swiping at you of all people, possibly one of the earliest and most loyal shareholders what do you have like 10 teslas now? have you spoken with elon since

this public disagreement? >> no, and you know, obviously, it doesn't change my opinion of elon. i'm obviously a big fan, and a big investor in tesla, and i have much thicker skin than elon , clearly and this is a serious issue and he can try to blame the stock market for the decline in tesla but we all know why it's down and it's because of what's happened to twitter and i think he's making the right decision by finding a new ceo and the pressure i think that he's been feeling, he's now hopefully acting, so i really looked at this as he's going through a tough time and he put himself in a really tough situation, and hopefully he will make the decisions now moving forward to get himself out of this situation and then refocus on tesla because tesla has such a great future in front of it and the short-term and the long term and it really does need his attention. liz: you criticized the board of directors. a lot of people have. >> right. liz: are you going to run for a board seat? you've notified the board that

you would like to be on the proxy ballot that you want a seat there. have you gotten a reply on that? >> well, i haven't gotten a reply back from tesla, but i certainly got a reply back from my legal team which obviously thinks that's a horrible idea because i manage money for the public, and i have an etf, and my clients don't want me to be working at tesla. they want me to be working on their accounts so that's touching and lovely, but you know, my goal is really to get the actions done that need to be done by the board of directors and if i have to run for the board of directors to get that done, then that's what i'm willing to do. so far i've gotten one of the actions done, and there are two other ones that i'm hoping for which is knowing what other tesla stock sales may or may not happen in the future and we would like to see elon pledge not to sell anymore tesla stock and we would like a secession plan for tesla if god forbid anything happened to elon. what's the plan, and better

communication about what the plan is for management and tesla short and long term, so i don't think what i'm asking is very difficult and i've been very frustrated that the board has been so silent. liz: 40 billion in stock sales since late last year, and that of course has not thrilled anybody. he's allowed, he had so much exposure, i get it, but to fund this twitter purchase and then focus so much on "the situation" , there are times where he's tweeting, you know, dozens of times a day and it's about stuff like anthony fauci and hunter biden's laptop and all this stuff, whereas people who own the shares would rather see something different. if you had elon in front of you today, what would you say? >> well, i would say look, you know, we're in the business of selling cars, and this is what i said to him five years ago when we went through a similar period of time and i did confront him about his tweets five years ago with the funding secured and i said our goal is to advance

sustainable transportation and energy and do you think what you're doing now is going to help you achieve this goal, because it's not, and it came to me last night because i was watching this mars rover documentary on amazon prime and it's super-cool and i know elon 's main goal in life is to populate mars and i was sitting here thinking if he really understood what he's doing at twitter might prevent him from getting to mars in his lifetime because of this distraction, would he value his time at twitter as much knowing that it might prevent him from achieving his goals in space and i think that's what he needs to think about. we sell ev's to a broad market and does it make sense to infuriate a very important demographic that we sell ev's to so there's optics around politic s which is sort of a lose -lose things when you sell products to people, and then there's optics around what do you really care about and what goals are important to you and that's what i think he has to

come to terms with is space and sustainable transportation are incredibly important goals and he needs to focus on those as much as twitter is an important goal too, but it shouldn't hurt the other ones and i think he has a false belief it won't. liz: well, a 57% drop in the stock since he bought twitter and a fresh low today of $135.90. i just want to clarify before we go, ross, so you will run for a board seat on tesla? >> yes, that's my intent at the moment is to run for a board seat at tesla, and that's what i'm pushing to do and i'm trying to figure out how to get on the proxy as we speak. liz: all right i'm glad you came on today. again, i was very surprised. >> thanks for having me. remember what you said to me, liz, when we first met and we were at breakfast i think? and you said you want to be a guy, do you want to be a media guy or do you want to be an investor in the media and i said an investor in the media and you said that's very smart. never go into the media business

that's what you told me and i've listened to that ever since and i've had a lot of opportunities to do media and i haven't done that because i'm an investor first, and i think the media is a very difficult business and one you've mastered but certainly very difficult. liz: well, one thing i've learned it's full of sound and fury signifying not so much, ross, thank you. it's good to see you happy holidays. >> thank you for that advice, liz, its been very helpful. liz: anytime, you owe me a lunch >> for sure. liz: medical device maker masimo , have you heard of this company ready to take on the apple watch with the wear able tech that helps monitor not just your pulse but your hydration, temperature and so much more? we're wrapping up this gift when the "clayman countdown" returns. research shows people remember commercials with nostalgia. so to help you remember that liberty mutual customizes your home insurance, here's one that'll really take you back.

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liz: americans are facing a triple threat of covid, the flu and this ridiculously horrific respiratory virus hitting kids right now and it's actually leading to hording. cvs and walgreens are now limiting purchases of children potions pain relief medication as this influx of patient strains, pediatric hospitals ink across u.s. , sales of children 's pain meds are up 65% year-over-year, and the consumer healthcare products association, which represents brands like tylenol, advil and other generic s, doesn't know, it says when supply will catch up with demand. here are the makers of some of the names, advil, i believe and we also have johnson & johnson, the maker of tylenol, glaxo-smith kline, with americans in the trenches of flu season, and the lingering pandemic preemptive healthcare

is top of mind. enter masimo, the medical tech company offering solutions to track your health at home but also on the go, wherever you are on the ski slope, the beach, wherever, including a new watch that's angling to take on fit bit's health app, joining me to talk the business of healthcare is masimo ceo joe kiani. ever since covid highlighted this dire need to stay healthy and keep ahead of issues that in some cases can turn into " preexisting conditions" and make whatever you catch worse, people are much more inclined it feels like to monitor their health on a daily basis. you've come out with a watch, i am wearing it right now so i want to at least take a shot here to start, and it has a whole bunch of different things that it can do, including, and this is the hydration just so you know, this part right here. it says i'm minus .5 so i feel like i'm below hydration, but

what does it do that my apple watch doesn't and i'm going to drink water while we're watching because that made me nervous, go ahead. >> yes, hydrate yourself. pleasure to meet you, liz, thank you for this opportunity. first of all, let me ask you a question. what it does, it gives you continuous measurements of your oxygen saturation that nobody else does. it gives you hydration index that nobody else does including apple, but you have to understand where we've come from we have started, i started masimo 33 years ago with the goal of making pulse oxi meter so accurate and reliable that we can take it to new sites and applications and improve outcome with it. we invented this. most of the hospitals of the world use our product, over 200 million people use our technology every year in hospitals and now we've taken that same technology and we've adopted it so that it can be worn on the wrist and be out of

the way and still help what's going on at home or even in the hospitals. liz: okay, the price of the watch is $499 and it works with an app? we have the phone right there that has it working in, but again, i want to push you. what does it do that the apple watch can't, at least right now. >> sure. well so the apple watch, if you want to get oxygen saturation reading you have to hold your hand like this literally and you press a button and you've got to wait 15 seconds to get a measurement. ours, as you notice, it's continuous. you can be moving. it'll still work. we did a study comparing our watch to the apple watch, and here is what we learned. if you're having a desat during the night or for whatever reason apple watch missed 94% of them. we didn't miss any and when the apple watch measured the accuracy was 4.4%.

we were 1.5%, so there's a huge difference, the contrast is night and day. liz: i just want to ask you because you made a purchase earlier this year of another company, sound united. this is an audio speaker, and head phone business, because you're doing headphone efforts too for about 1.025 billion later this year, the day after you announced that acquisition the stock plummeted. what do you think that was about and what would you say to people who sold on that day? >> well, i wish they hadn't. i wish they would trust us. we had this track record of delivering on everything we ever promised. we bought that company. we explained why we bought that company that same day. one, it gave us 20,000 distribution points around the world, so when we rollout the consumer version of it called "freedom" along with w 1 and b 1 we have a way to get it out there quickly. secondly, we wanted to get into the earbud, the hearing, both in

passive hearing and helping music be heard better and brands and their 500 engineers were critical to seeing that through. liz: sure. i'm very interested in all of this , joe, because people want to test our temperature right away, their heart rate, their pulse oximeter, all of that and your masimo watch does that. great to see you, thank you very much. >> thank you. liz: rite aid investors may need to monitor their heart rate as the stock craters to a record low. what are investors seeing in the earnings report that erased pre- market gains? we're going to tell you next. stay tuned we're coming right back on the "clayman countdown." what if there was a community of like minded

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liz: well, it has been quite a rally day. we are off the highs of the session, but still, a nice move here for the dow jones industrials, which is still gaining about 469 points. you add to it the gains from yesterday more than 500 points not bad. the dow, the s&p and nasdaq are all together having their best day since november 30. the nasdaq is up 1.5% the s&p up one and one-third percent. we need to look at rite aid complete opposite story here

touching a record low of $3.64 it's at right now. the record low $3.63, down 17.5% after the companywide ened its annual loss forecast for the third quarter in a row. the drug store operator says it now expects a loss of between $551 million and $584 million for the fiscal year ending marcs including pharmacy margins, seasonal markdowns and higher shrink, that's code for increased threat and fraud. revenue also slipped missing the previous boost it had gotten from past quarters because of the covid testing and vaccine demand. six flags riding up the rollercoaster after a shareholder accumulated a 3% share in the amusement park. a 3% stake, we should say, land and buildings investment has been in discussions with the park about splitting the business into separate operating and property companies

analysts say the deal to spin-off or sell its real estate holdings could unlock 1 billion to 1.5 billion in shareholder value and send shares to between 30 and $40. the texas-based park could then sell its real estate and lease it back. shares at $23.38. so let's look at general motors. it's actually up nearly 2% this after the company posted a recall notice for some of its chevy bolt vehicles. gm is recalling the cars because apparently after a crash when see let pre tension is deployed their exhaust may ignite carpet fibers causing a fire. they start to pull and hold an occupant against the seat, before a crash happens. that's what that means. the recall is for ev's made between 2017 and 2023 so it's pretty broad span here and will

effect some 120,000 vehicles. chevy has agreed to repair the cars effected, and speaking of recalls, the national highway safety administration is investigating whether hertz has been renting out vehicles without performing required recall repairs. nitsa said the audit is looking into ford, nissan and altima cars hertz rented out between 2018 and 2020 and the company is reviewing the request. back in 2020-hertz filed for bankruptcy protection and then emerged about a year later it's a $15 stock right now up three-quarters of a percent today. now, whether you are renting a car, or catching a plane, this major winter storm is set to impact millions of people ahead of christmas break. airlines are offering travel waivers as flights get delayed or canceled and we've told you that but with the snowy skies now wreaking havoc on travel we'll take a look at alternative

methods to get you home for the holidays with the ceo of private flight firm "wheels up." what does it cost if you need to quickly jump on a plane to make it in time for christmas? closing bell 27 minutes away. dow is up 489 points to 33, 338, a tiny bit of yes, the start of a santa claus, well as dutch would say, bear market rally. we're coming right back. if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity. [ cellphone vibrates ] you'll get proactive alerts for market events before they happen... and insights on every buy and sell decision. with zero-commission online u.s. stock and etf trades. for smarter trading decisions, get decision tech from fidelity.

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liz: dreaming of a white christmas? be careful what you wish for. according to the national weather service, that dreaded strong arctic high pressure system is now sweeping ink across great plains, the midwest , and even as far south as the southeast today through friday. it's like the perfect storm and i don't mean that in a good way. coming just as holiday travel kicks into high gear, and

passengers brace for heavy traffic and flight delays and cancellations, amid the arctic front, we're looking for major airlines actually in the green but according to flight aware there are currently more than 3,000 delays, now it's like 3,683. these numbers just changed, into or out of the united states today or across, and 1,299 cancellations. folks, this afternoon, it was just 400. these things are piling up but many people are so frantic to get where they need to go before the holidays they are jumping ahead, trying to book for today but all the flights are full, so alternative mode of transportation, in swoops private jet charter company wheels up experience. could it deliver a christmas miracle? joining me in a fox business ex clause ever wheels up chairman and ceo kenny dichter. what are your phones liked to? >> the phones are ringing. i brought mine just in case we had a couple extra calls but today is really becoming like a

quasi-peak day, today and tomorrow morning because you have a lot of people that had friday-saturday travel come to wheels up. we had a little bit of capacity coming in today but that capacity is moving. liz: is it going to be soaked up by the end of today or early tomorrow? >> i do. like i said our job is to please we're in the hospitality business, we always like to say yes so we might have one or two or three more movements we can fit into the schedule, but today was a very busy day on people moving their travel. liz: are you hearing from people who had a commercial airline ticket which got canceled ahead of it and they are sitting there saying what am i going to do here and they are willing to spring for sharing a jet like what wheels up does? >> yeah, they are coming in and again, our partner delta setup really really well for the holiday and of course, there's going to be cancellations and we're subject to the same weather that the commercials are, but i would just say that because we have flexibility and you can move off a friday and saturday and come

to wheels up i think people are being more proactive versus a canceled flight and calling us. liz: i want to get to pricing because people always when they see these segments on our show say well what kind of money are we talk about compared to a first class ticket? i'm thinking l.a. to new york, okay. you guys have the one-time initiation fee and then the core membership, but then, if you were to make some type of comparison with a first class ticket, what is it, kenny? >> i'd say it's tough to compare first class and wheels up, but if you're buying five or six first class tickets and you're looking for the family and then looking at wheels up we might be 50 or 100% premium to that pricing, but it's within the ballpark of doable, and our transcon business, we have the biggest fleet of citation tens in america, we have a lot of capacity to do transcon stuff at really really reasonable pricing, so again, it's not going to be a compare business class first class or wheels up, but it's also not going to be

out of the strike zone for a lot of people that can afford it. liz: there have been all kinds of stories and truths about the fact that people are giving up material things, and spending the money they do have on travel how is that translating to your business? >> we named our business wheels up experience. we're in the experience economy. it's not about the physical things as much as it is who you roanne sones what you do and i think travel has moved up from a priority perspective. i think that covid, a lot of pent-up demand that ed bastian our partner at delta talked about $300 billion worth of demand that didn't happen during covid that may not all happen but it's going to happen overtime. we're seeing businesses, the relationships being in- person, super-important to people, and again, experienced economy what you're doing, who you're visiting, the people, the people touch. liz: before we go, kenny, you bought this week 400,000 shares of the stock. >> i did. liz: the stock has like just about every other company lately

been hammered. >> yup. liz: what do you want this to say? obviously it's a vote for the company i would imagine, but this has been a rough go. >> well like i said, i think i'm taking a very long term approach. i look at the bezos and the people that i look up to. there's going to be a point in time where there's a dislocation on the stock price and what the companies going to be worth overtime. i looked at it and i discussed it with my wife and family and said this is a perfect time for us to show confidence but i love the price, so it was a perfect time to do that. we made a commitment to wall street. we got a new great cfo, 26 years at ge, todd smith. he has a plan that's taken us to ebidta positive during 2024 and wall street was looking for incredible growth. we went from a few hundred million dollars four years ago to 1.5 billion the top line and now it's time to show the street we can make some profit and we're looking forward to doing that while growing. liz: well, kenny knows from what he speaks, because buffett

bought marquise jet within netjet, so good luck to you. >> thank you very much and if you ever need a lift you know where to call. liz: my wallets a lit light on that but hey, you know, you make the case. wheels up. make sure to download the fox weather app by the way, because it is going to have second-to- second continuous coverage of the winter storm. now, it is not just people rushing to get to where they need to go for the holidays. it's packages. we already reported that fedex earnings, the package delivery company, also trying to reassure people about package deliveries this week, as inclement weather looms. fedex says it has contingency plans in place to help keep team members safe and lessen any impact on service during the storm. ups, the postal verse and amazon releasing similar statements that workers are ready to deliver in both snow or shine. lydia hu is live at the facility for deutsche

post-owned dhl international in avondale, new jersey. how is dhl preparing for this? reporter: liz i'll show you. they are putting me to work. that is because they have so much package volume this holiday season. they actually said they have 15% more volume then what they anticipated having but the truth is, liz, all of these packages that you see , they will not be under anyone's christmas tree by this weekend, because dhl needs the packages by monday in order to make that guarantee. so the focus now for dhl is delivering the packages that were here on time, making sure they can avoid the weather sweep ing the country and they will do that by shifting volume away and back to distribution centers to other centers that are not impacted. watch this. >> its come to this point, it's still looking to place an order, you might want to have a backup gift just in case. reporter: if you're planning to mail a package to a loved one or

maybe place an order for something here is deadlines to keep in mind. fedex needs your package today if you are going to second day freight in order to get it for the holiday. the cutoff for postal service for friday is for delivery by priority mail express before christmas and ups needs your package today to deliver by christmas eve using second day air services, but like you said, liz, these companies are putting out statements about how they are prepared to handle this inclement weather. ups is warning there could be service interruptions ink across midwest, north and south dakota and nebraska because of severe weather and fedex also adding today a warning that the inclement weather is expected to hit indianapolis and memphis could have system-wide implications, so fingers crossed to get packages ahead of the holidays if you have one coming. otherwise you might need to have a plan b in place. liz: the plan b thing scares me but there is always the sweatshirt at the airport you can pick-up.

go back to work they have you working there although you need your christmas sweater. i love their employees have their christmas sweaters on thank you so much. lydia hu. by the way we are awaiting, former ftx founder sam bankman-fried's return to u.s. soil, yes, imminent, after a judge in the bahamas did approve his extradition. will the man behind the crypto exchange collapse get bail once he's back? closing bell, we're 13 minutes away. dow is still up 485 points. charlie breaks it next. [laughing and giggling] (woman) hey dad. miss us? (vo) reflect on the past, celebrate the future.

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♪. liz: disgraced ftx founder sam bankman-fried is set to leave the bahamas for u.s. soil this this evening. if all goes according to plan he will have fist first appearance in front of a manhattan distribution court tomorrow morning. charlie gasparino has breaking details. >> people close to the defense team are telling the fox business network they believe they will be able to cut a deal, meaning the defense team will cut a deal to get him bail that is the sort of the endgame here. that is why he isn't leaving, didn't contest extradition.

all about bail, probably stays a couple nights. gets there tonight. same lockup that jeffrey epstein killed himself in, federal lockup in lower manhattan. liz: lovely. >> better than, better than the bahamas from what i understand. liz: really? he didn't get bail in the bahamas. >> they will try to cut a deal similar what madoff got. this is what madoff did. he obviously turned himself in. he put up a 10 million-dollar bond, from what i understand. he wore an ankle gracelet, allowed to stay in his apartment in midtown manhattan essentially through the duration of his trial until he was put away. they're looking for the same thing here. but, in order to do that you will have to cooperate somewhat. tell the feds about the books and that's people close to that defense team are telling me is likely to happen. he is going to cooperate. he will try to get, direct them to where the money is. i don't know if he will rat

himself out and confess to what went down here as he was charged for multiple counts, i think eight counts of fraud but you know that cooperation in exchange for a bail and maybe an ankle bracelet is kind of what they're looking at. i don't know where he would live? i don't think he has an apartment in new york. maybe his parent, are very well-connected particularly within democratic party circles, major democratic party heavyweights, both the mom and dad. they probably have some, in this very democratic city they probably have a place for their son to hang out. liz: i've got an extra bedroom. he can crash. >> will you make him shower? liz: i will get the scoop. >> will you make him shower? no offense, but liz, you know, this guy is not exactly the most high againic dude in the world. liz: do you have a smell-a-vision? i don't understand how you know that? >> take a look at him. we should point out the investigation by the doj from

what i understand is very wide-ranging, you know. they put it together pretty fast. the case against him. we were first to report on claman "countdown" likely to be before the end of the year. it was last week. we hear about 30 people and entities that did business with sam bankman-fried have gotten subpoenas for information. this is all sorts of information, financial information, texts emails, you name it, they have asked for it. people are turning it over. people that did business with him will likely be, many will be witnesses. you are likely to see all those brand ambassadors to be witnesses. liz: gisele, tom brady? >> o'leary. probably. not saying targets, saying witnesses, what do you know? liz: witnesses. clawbacks. >> clawbacks. interesting some of these things can be clawed back. i don't think scaramucci's money

can be clawed back. liz: interesting. >> that was anthony getting an investment from him, not being part, wasn't part of ftx. wasn't an investor in ftx. liz: some was in that ftt coin. >> he then bought some ftt coin. so now scaramucci from what i understand is still trying to exchange the money for, you know, for his shares back. he wants to be paid pennies on the dollar for his shares. he will claim it was done under duress or anything else, unfalse pretenses not under duress. it might not be clawed back. that might be worse than madoff. 50% of what madoff took, initial investments clawed back. you might see 10% of this one. liz: charlie, thank you, i think. let's get to it, closing bell ringing in three minutes. second day of gains in a row for the major averages. we're losing a bit of steam but

barely. the dow is up 495 points. we don't want to ignore oil. crude prices in the after-market still up more than 2% as the energy information data, eia, showed larger than expected drawdown in u.s. crude stockpiles, meaning less supply, prices go up but gains were limited as the snowstorm will likely affect holiday travel via cars and planes. people will not fill up their tanks, maybe? our "countdown" closer says do not give up on the energy sector. 44 billion in assets under management. cliff corso makes the case. what part, cliff? >> we do like oil, natural gas, long-term tailwinds. second largest provider of oil is russia, hobbled even with detente for a long time. high free cash flow sector. solid dividend yield. attractive valuations. nine times pe.

that is one of our favorite calls for 2023. liz: can i push you a little bit? do you buy the physical contracts of oil, natural gas, gasoline, rbob, or do you go with some individual names in subsectors of energy? >> yes. we actually, right, we do not, we do not do the contracts. we look at producers of energy, oil companies, natural gas companies, those that play within those markets. liz: we have the energy etfs right now are having a nice day up about 2%, or just slightly under 2%. you like the industrials and materials as well. if you look at some etfs encompass some of the best in class of those names, they have actually underperformed, i know that the gold miners down 6.5% year-to-date. material select spdr down 11% year-to-date. what makes you think they will rebound? >> well a similar theme to the energy. they are hard assets. we have got big material demand.

countries that have big material demand like china, potentially coming back online a little bit more forcefully. the metals are coming alive. you see it in steel, agriculture. if you look at, you know, sort of slight demand balance in agriculture and supply constraints and weather, all these things are positives for the material sector. liz: cliff, happy holidays. thank you very much. >> happy holidays to you. liz: great to see you. well look at this, a five handle for the dow, 506 points to the upside. we have a very, very solid rally. [closing bell rings] we have a solid rally as we finish up to hear the closing bell ring. nasdaq 1 1/2%, dow the same. let's see what we can do tomorrow. ♪. larry: hello, folks, welcome to