young lady who was, you know, mid 30s, couple of kids, recently went through a divorce. she had a lot of questions when she came in. i watched my mother go through being a single mom. at the end of the day, my mom raised three children, including myself. and so once the client knew that she was heard. we were able to help her move forward. your client won't care how much you know until they know how much you care.

santa rally is not and we have weather that santa might think twice about flying into. seeing rudolph the red nosed reindeer, i don't think rudolph's knows will be any good. if you have a nose for the markets, not looking good. it is smelling right now. the dow at session lows, 700 point loss.

one more trading day to go and the rate we are going the worst year for the market since 2008, that was in the middle of a melt down. susan is following all these things. and kind enough to join us now. lauren: i think rudolph could get us through the snowstorm, maybe not the market storm. neil: how quickly santa gave up. lauren: it was on dancer, on prancer, he will deliver the presents, don't worry. as for the markets i am not so sure because you saw the revised gdp numbers, strong, 3.2. this is a case where good news is bad because the federal reserve has been getting more aggressive and consumers in the gdp report showing they are still spending but does that mean interest rates have to get above 5%? and also one of the most influential names on wall

street, david tepper, he is getting short into next year. he says you have to come you can't fight the central banks so i'm telling you we will get hawkish, raise interest rates and stripped-down the balance sheets with quantitative tightening. december, one of the strongest months of the year for the stock market, up one. 5%, going back to 1950 which i'm sure you don't remember, the santa claus rally not happening with the money on the sidelines. as for individual movers do you feel bad for tesla, elon musk? neil: it is a freefall. susan: rivian has a report that the senate committee is looking at because, general motors, toyota and whether they use forced labor. we had a bill in june that

banned any imported goods made from any forced labor from that region and you get $7,500 offer tesla model 3 by the end of the year and you get these discounts anyway at the start of the year, 2023 with the inflation reduction act but these are rare discounts a lot of people conclude means there's a demand problem. you are offering incentives, they are more making more cars than are being delivered, stock is down 60%, the worst month on record and below exxon's valuation next week, down below half $1 trillion market. people are wondering why doesn't musk focus on tesla rather than spending time on twitter? neil: to guess a guy who has done as well as he has done. susan: i get it, it is temperament, style, no one doubts he's a brilliant entrepreneur but you want to talk about stocks?

neil: i have things to do you have a plane to catch. susan: stocks are getting hammered. susan: the semiconductor, nasdaq is down a lot. thank you. luke lloyd is back with us, we are at session lows, down 732 points. there are a lot of catalysts, to look at all the big backers right now, this idea that it is spreading technology it has been that way, but disproportionately following things, the nasdaq and the dominant issues have been cut in half. some issues like tesla in and out of the lows they reached during the pandemic, where are we going? >> got to stay away from long-duration stocks. short duration, make sure you own stocks to generate cash flow that have good valuations. stocks are down 80% in the tech

sector. there's a reason they are down 80%, they don't make money and have it stream valuations the past 13 years because money was thrown at the wall and pushed valuation, the tech sector you have to be careful in the big tech names like apple hasn't seen the full drop yet but there is some positive light at the end of the tunnel. even though i have been pretty negative, 2023 doesn't look hot in the short-term over the next 6 month but this isn't the end all be all, there's usually game after the pain and there is light at the end of eternal. we are seeing low productivity rates, the lowest we've seen in history. after sessions recur, usually they skyrocket. there's an opportunity for businesses to come about and innovate, specifically in the tech sector. productivity means innovation. when companies innovate that provides an opportunity for more wealth to be created so that gets me excited after

2023. 2023 will be the year you look for those opportunities. neil: with what we've seen in technology, the nasdaq is in excess of 8%, we are close to a 37% hit year to date, the nasdaq dominated by this technology and a lot of people say that is overkill. what do you say? >> i don't think it is oversold yet. i hate to have a negative outlook around christmas but we have some more to go especially in longer duration stocks. technology is the longest duration of them all. tesla got way ahead of itself over the past couple years and pulled forward 5 or 10 years of growth in two years, that happened in the last couple years is a lot of tech names pulled forward so much growth as liquidity is pumped into the system but there comes a point security start to become

attractive so you got to start picking up individual securities. tesla has a lot to innovate over the past couple years, it's too expensive now but if it goes where it was pre-covid i would take a look at it. one of the stocks we picked up in the electric vehicle area, has a great story down 80%, we think a lot of the negativity is priced into that stock so that an example of what we are looking to pick off when they fall into our lap. amy: neil: if we don't have a merry christmas, see you again. all right, not sure you are enjoying the going to an airport to catch a flight to get out of town before everything hits the fan. doesn't have to hit the fan, this winter storm, flights could get delayed. jeff flock is seeing the latest on what is happening as a

reflection of what is happening in a lot of places. how do things look? >> reporter: the fan is already blowing in milwaukee, this is mitchell airport in milwaukee, you see snow fighting equip it is out, the planes are still taking off and landing though we have 4500 cancellations today, tomorrow, and saturday. leading up to christmas, 4500 cancellations, milwaukee usually does better than most but places like denver and o'hare and midway and chicago, detroit, cancellations in the hundreds, ingoing and outgoing flights. it is starting to kick up, you talk about session lows and we are at session lows, 33 degrees this morning, we are now at last report 18 and that feels like i don't know what, like

something you don't want to stand out in and it is going lower. they tell us by tonight it will be-5 in milwaukee, this place will be colder than this. when you are going by plane or automobile this is not going to be good the next couple days. neil: take care of yourself, you're the best but stay well. jeff flock in the middle of all that and we gave him the option of having him do that inside milwaukee airport, we said it is too much and away he went. craig is with us, those are some incredible temperatures, seems to be happening everywhere. what is going on? >> reporter: the wind is a major part of the storm, not so much the amount of snow coming down, it is the windchill factor lose the feels like temperature. let's talk about what is going on. we have a couple lines producing low visibility, we saw a snow squall in oklahoma city including the county of

craig, ottawa, rogers, visibly dropping down below 1/4 of a mile, these go quickly, they last 30 minutes or so and we have some storm warnings, not only in the form of the blizzards but i storm warnings over portions of the pacific northwest from portland to seattle, the blizzard warnings, we are used to that but we have some blizzard warnings over michigan through michigan into portions of buffalo for wind gusts to 50 miles per hour, when talking blizzard conditions, snow doesn't have to be falling, it can be on the ground and it is blowing around, that is the. then you have 3 to 5 inches of snow in places like chicago, no big deal, the wind is blowing this snow around and the windchill having a huge effect, it will take 5 to 10 minutes to get frostbite on exposed skin. as the system lifts to the north we will see lake effect snow off of lake erie, lake

ontario, buffalo, watertown, same story, where we could add 18 to 24 inches of snow. they dug out of the last one last month but here we go again, the winds will be howling, 60, 70 miles per hour and off of lake erie, if you ever heard of that, the waves, the winds are banking up on the eastern side of the lake and that will create a problem with. once the winds die down you have the sloshing affect on lake erie. meantime power outages likely, all the wind coming through, easy to see the tree limbs coming down, power lines coming down and rain is a big part of the story, the morning commute on the i-95 corridor changed by the afternoon, we will go through your wardrobe in a matter of one day. with onshore winds early tomorrow morning, watch for coastal flooding in new england and birmingham, alabama has

never had a windchill alert or warning. look at these numbers, feels like saturday morning-33 in chicago. here's the story. 50 one friday morning in new york. watch what happens. by evening, minus 6 is what it will feel like. that is what we mean, quick drop in temperatures in 6 to 12 hours. neil: thank you very much. it is getting more snow, this idea that it affects areas even where the snow isn't a problem but the cold weather comes saturday morning. we have a big tunnels in temperatures over what could be a multi-minute period as a switchover from this to the arctic blast. in the meantime a huge selloff in the corner of wall and broad. if you are looking at an economy that can be slowing down obviously you are not keen on oil, demand for that fades

considerably and is dropping considerably. you are not keen on any rogue investments so that is not really, you're not big on gold which is dropping one. 5%. %. no place to hide. so far. ♪ nobody can drag me down ♪ nobody can drag me down ♪ nobody ♪ nobody ♪ nobody can drag me down ♪ ♪ ♪ what will you do? ♪ what will you change? ♪ will you make something better? ♪ will you create something entirely new? ♪

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neil: so much for the santa claus rally, the market, a 500 point gain more than wiping that out, down 7 points. all 30 stocks are down, the nasdaq is up 3.5%. this is an average that already this month is lost more than 8% and on the year, at least 35%. for the markets in general. the worst years since 2008. we don't know where we are going right now but we do know

charlie gasparino is here, following the new york federal courthouse where they will outline the charges against him, don't know how far this goes but a lot of people sinking like canaries. what is the latest? charles: carolyn ellison is one of those canaries. we should point out on this very show. neil: she was the ex-ceo. charles: the hedge fund connected to ftx which according to the us attorney's office took the money out to make up for trading losses, took people's money in the ftx. neil: now she's talking. charles: we were the first to report on that and here is how we knew, not just because i had a source connected to the us attorney's office which i did, but one other thing, look who she hired as her attorney. wilmer hale.

that firm is notorious, or known, it's not a negative thing, for cutting deals with the us attorney's office in the southern district, the former head of the us attorney's office is there. her director, the guy's name escapes me, i am bad with names, that gentlemen almost became us attorney for the southern district, he's in private practice now. you go there, you are cutting a deal so not only did i have a source, but it is happening. this says to me we are going to hear more about this later today, sam bankman-fried will be arranged. he will want bail but in exchange for bail and all that he has to be what bernie madoff did which is throw up some money. neil: he wasn't waiting in his case. charles: who knows what his

lawyers were doing behind the scenes? are they offering cooperation and would rather have these two? my point is i will cooperate with you, give me bail, they may turnaround and say we don't need you to cooperate. she knows where the money is and it is all gone and you are going to jail and she came to us first, he should have taught less, sam bankman-project have talked less to the media and more to the feds right off the bat. cut me a deal, here -- he did this thing, i didn't know. he pointed to her as the real culprit. neil: there is this other guy. charles: he was part of the alameda. they went first. neil: you are the best. 737. you have that effect. have a merry christmas. we are selling off here and that's not easing at all.

there's something going on that might be compounding this, battle over huge spending measure that could only make inflation worse, we will have more on that after this. yroll , 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.

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-hey there. -hey. -hi. hey there. how are you? i'm with disabled american veterans. i was wondering if you had a quick minute to thank america's veterans for their service and sacrifices -of course, why not? -oh, sure. -absolutely. -sure. all right. well, come on in here. i'm just going to hit record on this. i would like to thank you from the bottom of my heart. i can't even think of the words of how grateful i am. i want to tell you guys how much, how much we appreciate. but most importantly, i want to thank you for your courage and bravery. wow. thank you. someone here who'd like to

say something to you? oh god, you guys are awesome! someone has something they want to say to you. oh my goodness! how's it going? awe! so i will let you know how much appreciate it. how much we appreciate it! just feel honored, for everything you've done. thank you for myself, thank you for everybody. i get to live every day, you know, in peace because of yo a lot of people thank us, but we want to take the time to thank you honestly, for giving back. and when you gave to dav, you are supporting veterans like dave and myself. so thank you so much. thank you, you guys are amazing. thank you. thank you. you can say thank you to our nation's heroes, by calling the number on your screen right now, and giving your monthly support of only $19. say thank you by going to helpdav.org right now, and give just $19 a month.

when you do, we will give you this dav blanket as a thank you and a reminder that you support those who served please call or go online to helpdav.org right now. your support says thank you to our nation's disabled american veterans neil: talking about the omnibus spending measure looked like a done deal but not a done deal, a lot of republicans bulking, chad program joins us now. what is the problem here? >> reporter: time is of the

essence. the senate is trying to pass the bill this afternoon. there's worry about a christmas storm paralyzing travel and stranding senators in washington. >> i ask members to stay near the floor and get ready to vote when the time comes. if we can keep this process moving and finish in time for members and staff to get home for christmas safely before the blizzard wreaks havoc across much of the country. i yield the floor. >> reporter: the senate defeated two amendments which tried to preserve title 42 for the border adding those provisions, they tanked the bill in the house, the senate could pass the bill later this afternoon, then it is on to the house. >> we could pass it tonight, that would be our hope but shall we say, waiting to see how long the debate goes. we want people to be able to go home, there are storms across america and hopefully that will

be a motivation for expedited discussion. >> reporter: kentucky republican rand paul tried to slow the process by requiring the senate to enforce budget rules especially since senators just got the 40 one hundred page bill a couple days ago. >> there has been -- there hasn't been enough time for a single person to have read this entire bill. the bill process ignores soaring inflation, rising interest rates and ballooning debt of $31 trillion, enough is enough. >> reporter: even if the house and senate meet tomorrow night's deadline it will take days to prep the bill for the president to sign. that would consume several days through the holidays so the plan now is to approve an interim spending bill to keep the government lights on through december 30th. neil: thank you for that.

will roger marshall go along with that? this interim measure? the kansas are public and senator kind enough to join us. you might have heard what chad said. the given the time maybe something on an interim basis to get government lights on presumably past the holidays. >> as soon as i go back and we will lose this vote. one. $7 trillion is about to be approved by the senate. we will borrow another trillion dollars from our grandchildren. the number one driver of inflation is our national debt and legislation will borrow another trillion dollars, oh and the feds can keep raising interest rates, but a tiger chasing its tail, it is all over with but rand paul and mike lee did a great job,

trying to give kevin mccarthy a shot at slowing the process down of slowing down the spending but i'm afraid it is over now. neil: then will go through? >> as soon as we are done with this interview i expect the gavel to be dropped and we will go back and i'm sure they have the votes to get it through the senate, santa claus is still coming but i would be willing to stay here through christmas to balance a federal budget. neil: just to be clear mitch mcconnell has 10 republican votes to make this happen. >> i'm sure he does. 15, 20 voted for cloture on it already, they have the votes. 8 to say this but it is over with. it will be official in a few minutes. we have done what we can to slow this down, inflation will continue, another trillion dollars being borrowed from our grandchildren. i get where mitch mcconnell is coming from on this, we

disagree on the process. we agree on the same goal. it was all over with when we didn't go through 12 buckets of money one at a time. this is what president biden wants, to bring it down at the last second, give force we want for defense as long as they get everything they want and here we are on a $5.8 trillion budget for this year, one. 7 of it coming right now. neil: i noticed last night in a historic moment when the ukrainian president was addressing a joint meeting of congress you were not there, decided not to come. why not? >> it was disrespectful to the border patrol officers who were -- working overtime, asking border patrol officers to be social workers, nurses, psychiatrists. we've given ukraine $60 billion

more than the rest of the world combined and zelenskyy is here to pick up $40 billion check from the american taxpayers. in this in norma's omnibus no money to make our border more secure, i think our border is the number one national security issue facing this country, so much to help ukraine and we can do more but until we secure the border i think the priority is going to be that. we have 100,000 american troops in nato countries bordering russia. we are doing our part. let's secure the border, that is my priority, that's my job to figure out where we should spend our priorities, the board would be my priority. neil: this goes beyond this particular spending measure. do you think ukraine should get money from the united states, $45 million wrapped up in this spending measure but it goes beyond that. >> i'm not voting yes on

anymore money for ukraine until there' s more accountability and we have money to secure our own border, that's my priority, my bargaining chip before we do anything else for ukraine and i need to see europe stepping in. 100,000 american troops, the rest of the world has less than 50,000 but those numbers are hard to come by. when this is over with we will have given ukraine $100 billion of aid. we need the rest of the world to step up. they are laughing at us saying why spend any money when the united states has a blank check over there. neil: thank you very much. one way or the other you got home safe. merry christmas, thank you very much. i don't know whether his comments on this measure are going through without his support but apparently the senator indicating mitch mcconnell has the votes, the 10

republican senators to go through with this. wall street's big beef with the omnibus spending bill is it will add to inflation. federal spending has gone so out of whack, whether is covid funds, 5 trillion plus in spending, infrastructure and other industry movers for the semiconductor industry, it will make inflation worse. stay with us. a must in your medicine cabinet!

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>> your money is not charity. it is an investment in the global security and democracy we handled in the most responsible way. russia could stop its aggression. if it wanted to.

neil: he might have been a rock star talking to a joint meeting of congress but a number of republican senators opted out saying this was good money after bad. this debate over the one. $7 trillion spending measure. aishah hasnie on the significance of all of this. >> reporter: very important to point out that the vast majority of democrats and republicans do support more funding for ukraine. they are 1000% behind ukraine and its fight with putin and russia but there are a growing number of voices to the right who are calling out and concerned about oversight of the money we are spending so right now nearly a year into this war the us is by far the biggest contributor to ukraine approving $60 billion with $45

billion expected to pass any moment. some senators like josh howley didn't even attend the speech last night. >> i didn't go to the speech, when they haven't given us a single account for anything they spoke to. >> reporter: gop leader kevin mccarthy has a slim majority, recently said reason republicans take control of the house, will not be writing anymore blank checks. here's his reaction to fox moments ago. >> i thought he gave a good speech, why would we, whatever funding we give anything farouk committee. >> are you concerned about not having their support? >> i'm worried about the american public.

>> reporter: staunch supporters of ukraine say transparency is fine but we have to help ukraine fight. >> nobody is dying over here, no american soldiers, it is spent on a good cause, the cause of freedom. whatever they need as long as they need it. >> reporter: bottom line stay tuned, watch how the gop react in the new session, if and when there will be more requests for aid for ukraine. neil: might be more difficult going forward. let's go to general jack keane on this but i'm not into the weeds of where the voting will go on the on a bus package but looks like it will go through and that will include the $45 million for ukraine but you heard from a number of prominent republicans, senator roger marshall from kansas is not a fan of this, didn't attend last night's speech, doesn't like giving good money to ukraine.

>> i agree that the overwhelming majority of republicans and democrats want to continue to help with ukraine and beat back the russians and let them retake their territory, that bipartisan support is significant, the vocal minority who disagree getting a lot of attention. there's a lot of misinformation, no doubt the united states is providing a large share of support to ukraine, 60% but when you get into it and get into the weeds you find out of the $45 billion the united states has given the unity of institutions are given $30 billion none of that is military aid for those institutions but humanitarian and financial and if you look at that in a percentage of gdp which is a pretty realistic way to look at it because many countries in europe are small

and have very small budgets the united states is in eighth place and most of the countries that have given more as percentage of gdp, eastern european countries starting with estonia, very small country with a small budget. a lot of european countries are stepping up and getting more than you would expect them to give based on the size of their budget. back to what we said about the basic premise, the united states giving most of the money, the largest economy on earth and what we are giving here, to be commended. neil: these republican senators, there's a number in the house, at the very least you think it is going to be harder for ukraine to get money or what they call a rubberstamp to get that money from washington. >> i suspect so as we go forward but the case can be

made to continue that support. i don't think it is a blank check. we have three inspector general's and the government accounting office, the investigative arm of congress i may add, they are all watching the distribution of the money and particularly military assistance. the study of war where they are in contact with the military in ukraine and the people multiple times a day and we do do hear reports early on but some of this aid was not getting in the hands of the troops but turns out to be more of a distribution problem than a corruption problem. those systems were fixed and we don't hear any complaints, of this not getting in the hands of the troops we are fighting. i can't comment about the humanitarian aid. i'm assuming the gao is overlooking is that. nobody disputes, congress wants

more oversight, bring it on. we learned a lot from afghanistan. we burned some money in afghanistan because of the corruption in that country and that was painful to come to grips with how much we burned so let's learn that lesson and not repeat it. neil: neil: that refers to the general accounting office, inspector general of the policeman of spending but to answer his point they don't have a perfect record on monitoring this but in the meantime i want to bring you up to date on sam bankman-fried who just got out of court. posting $250 million bond living in his parents home in california while he awaits trial on charges, that he looted their deposits,

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neil: a lot of people assigned part of their worth to their financial worth. many people are finding as we close out this year, you know this far better than many, they have been wiped out. some are putting off retirement, others are rethinking purchases this christmas. what do you tell them? >> it is important we spend some time thinking, those are things that are -- ultimately we all have to give up at the end, naked we came into this world and they could we will leave it. the company of other people who realize and believe it is important. neil: even the good reverend speaking get as a director at a piscopo alien in houston acknowledging what is happening at the corner of wall and broad and the fear of an economy that

can slip into something bad is affecting donations, charitable activity, among the rich middle-class, poor alike. equally alarmed by these developments. taking us back to look at bigger things we lose sight of. it has been a while, happy to have you back, merry christmas. >> merry christmas to you and everyone. it can be alarming with the economy as it is. inflation is so horrible, so high and i had to fight that fear with generosity. it was my decision so i decided i would give. admittedly when i would give certain gifts, i have given some scarves, caps, gloves, socks, things like that that i have on my desk, 2 or 3 envelopes and i'm going to give

just a little bit more. it is a little harder and hurts a little bit, things are very tight but don't let fear make our hearts sees up where we cannot be still generous. do something and there is a scripture, god heals job when he prays for his friends. if you're in a tight spot, try to bless somebody and you will see that you will feel better, i promise. neil: there's the issue, this economy and these markets put off a lot of ambitious plans, people wanted to retire and are putting that off, people wanting to do something fun. impact airplanes, we don't know how long that lasts but it added to this view, i am nervous, i am afraid. it is affecting their shopping

plans and charitable contributions, what do you tell them? >> i am 72 years old, to keep working quite as long as i have done, i am working on being healthy so i can do it but fear not. you can always give kindness, love, help somebody out, that means something. in the tightest moments fear not, be wise, don't run those credit cards up. credit cards are not money, have to remind you of that but be watchful, be wise, don't be afraid. you can give generosity, you can share something smaller than you would have given before. and tell your children this is not what you wanted but you've got me so let's be happy. fear not is my message today. we can be anxious and you can

watch the way the economy is with things that are developing right now but fear not. neil: as yesterday on the show, i am curious what you think, it is no mystery, the goodpaster was saying you are seeing fewer people showing up in churches and synagogues and other institutions that used to be packed and a lot of churches are cutting back on the number of new services, many churches going out of business altogether. this seems to be widespread. it is happening all over. what do you think is going on? >> all over the world because of the sliding economy, we can think about the moral fiber of the nation because people are not as careful. people will steal from you in a minute and if you have that attitude than we will have problems with our economy as well.

less service, less quality. that happens because the temptation is let's cut back and take things out of what we are while offering but charge them more. this gouge out gouge and get what we can while we can but i want to encourage people to be more generous, more caring, more concerned about others as well as this is a good time to do that. neil: merry christmas, my friend, a little more after this. with models that fit any lifestyle. and innovative ways to make your e-tron your own. through elegant design and progressive technology. all the exhilaration, none of the compromise. the audi e-tron family. progress that moves you.

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>> reporter: welcome back to cavuto "coast to coast," i'm connell mcshane in front of new york federal court in lower manhattan. dramatic developments, cryptocurrency former billionaire sam bankman-fried made his initial court appearance. he will walk out the doors for the moment, free on bail. the number reported in the occur house. is beyond anyone's expectations 2009 when bernie madoff was free it was 10 million-dollar bond. that is nothing compared to the 250 million-dollar bond to be posted by sbf, as he is known, to be free here in new york, only to travel to california he should be living with his parents. his parent, both stanford law professors in palo alto. he is supposed to according to the judge live there, be here in the southern district of new york or eastern district of new york. those are the only options until

another hearing set for third of january. that is the expected development. we expect sam bankman-fried to be walking out the doors any moment now, neil. free on bail. it's a bail number we haven't seen anytime before. 250 million-dollar bond. neil: he has some money. wild stuff. connell, that was great. thanks for summing it up so neatly. connell mcshane outside manhattan federal courthouse. corner of wall and broad, all major averages down. no hope right now for the santa rally at least today goes. let's go to my friend charles payne to take -- charles: he came up with 250 million. reminds me of every time i borrow a few bucks from you, say you don't have it. neil: it's a all leverage, my friend. charles: i hear you. good afternoon, 'm