would provide a chicken in every pot and two cars in every garage. we've come a long ways since then, and it's taking a toll on our ability to create opportunities. in fact, those opportunities are the foundation of american greatness. people do not want to work because they do not have to work. labor participation is down dramatically across the board. take a look at this, 16 to 19-year-olds used to go out and buy their own stuff, their own video games. from a 46% participation rate 20 year years ago to less than 38% now. there will be costs beyond the runaway inflation that we've had to deal with since 2032. 2032. free money is expensive, and for the nation it means forgetting how to to work, forgetting how to succeed, forgetting how to pull ourselves up by the boot strap thes. although there's a group of people who remember that, and they're at ces right now with liz claman. over to you. liz: they sure do. that is a great point, charles, because a lot of these companies began at start-ups, and they needed to borrow money, and they

borrowed it very cheap. it makes you wonder what's going to happen with tech. yes, coming to you live from las vegas and the more than 2 million square feet of floor at the largest consumer electronics show in the world, that would be ces. we have a ground breaking show, but first let's get to the markets because they are in blastoff mold as we kick off the final hour of trade, looking to end the first week of 2023 on a high note. at least most of them. as theyal rally back, we've got the dow catapulting 7. 31 points, that is a new -- yep, that's a brand new high for the session because just a few minutes ago the new high i was told, oh, it's 720. now here we are at 731. s&p is surging as well. we've got a big move in the broader index there. s&p is up at the moment 91 points. both the s&p and the dow are on pace for their best day since november 30th. i know that wasn't that that long ago, but here's the thing about the nasdaq, percentage

wise it is the biggest gainer. it is up 2 the.7% in the majors here, that's a jump of 278 points. stocks are roaring higher though due to this: a classic goldilocks labor report. the u.s. economy had more jobs than -- added more jobs than expected in december, 223,000 versus the estimates of 200,000. so that is warmer, but it's not sizzling hot. and then the real goldilocks component, wage growth. so wage growth is a key indicator of inflation. it actually came in lighter than expected. the market likes that. average hourly earnings increasing three-tenths of a percent on the month versus expectations of four-tenths of a percent. that has the materials sector leading the session. look at freeport-mcmoran, the big copper and metals producer, mosaic, new cover, all of these numbers are jumping. freeport up 6%, mosaic, of

course, fertilizer, up 5%. the tech sector though is following closely behind, rocketing higher led by chip-related stocks. lamb research, broadcom, applied materials. so that's a chip equipment maker. remember, we were just live on tuesday from qualcomm, and the chips had a dismal year last year. gains of anywhere from 6-7%. let's bring in the employment picture. when you look at the jobs numbers, the cuts are hitting the tech sector particularly hard. amazon chopped 18,000 jobs over the past 24 hours. meant that the, as you know -- meta, as you know, has laid are off more than 11,000 employees. salesforce letting go of 10% of its staff. well, what better place to delve into all things tech including the labor situation is ces? we are at the epicenter of technological innovation. now, since the 1960s, ces has been the trade show where consumer tech has been revealed.

from the vcr to driverless cars. coming up, we're going to take you around the world's largest tech trade show -- i'm jumping off this tower, let me tell you something. we have a whole crew, we're going to coarse the whole floor and show you the latest and greatest advancements. why would the ceo of delta airlines be a keynote here? because technology is now at the heart of the consumer flight experience, and ceo ed bastion is going to join me to talk about what really became the big issue with flight cancellations. now, it's not his carrier, right? southwest? but staffing technology and software has become absolutely huge. we'll talk to ed about that. mobilize ceo, he's got 94 patents to his name, he's going to personally show us how his autonomous if driving tech, 11 cameras to a car, will bring drivers' hands-off, hands-on driving sooner than you think. but first, let's dig into this epic rally on wall street and which trades that worked last

year might be replaced by newer trades this year. joining me is cme group chairman and ceo terry duffy who runs the world's largest futures and derivatives exchange. happy new year, terry. this is pretty major. we could start with the trading today to. >> it is amazing, and it's good to see, you know? some of your earlier guests were talking about the markets and how they're itching to go with up. i mean, the markets are a little skittish right now, but it is good to see a healthy day like we're seeing today. liz: yeah. the trading action with the december jobs report came out this morning. i'm interested to hear what happened. do i say the floor of the cme? i know you still have some live traders there, but what kind of trades did you start to see really move? >> well, obviously, the equity markets, liz, as you know. we have the largest equities futures fran chielz in the world, and with the s&p 500, nasdaq and the dow futures along with the russell, these are

products that moved precipitously quick as the market started to move. in the premarket they were up significantly, and then they sold off a little bit as the markets first opened up. and then i think as people started to digest the wage growth being a little bit less than people anticipated even though it was a small amount, it gave the markets courage to go back up. that's what we saw originally. liz: yeah. i would think, listen, the last couple of months we've been living and dying by the cme fed watch tool. [laughter] the fed funds futures, obviously, which are the bet that a traders and investors make. >> right. liz: and the market makes on what the fed is going to do. we've got the latest fed funds futures numbers from the cme fed watch tool. talk about a 76.2% chance of a 25-basis point hike. 50 basis points, it's about 23.8% chance of that. >> right. liz: what do you think? i mean, what have you learned prosecute fed watch tool and what you -- from the fed watch tool and what you think is going to happen at the next fed

meeting which is at the end of january? >> yeah, i think the fed watch tool is a little bit behind. they kept anticipating the fed if could not keep rates so low for so long, now we're seeing it be much more accurate as ped started to move and the -- the fed starting to move. so i think the fed tool does a tremendous job, it's trading much more sol volume than it has, over 380,000 contracts a day. there's a lot of participation in there, and people are keeping a very close watch on it even if they're not participating in the contract itself, liz. so it is indicating, to your point, rate increases throughout 2023 and from there we'll probably have to wait and see. we're seeing it at high as 5.25% on the outside. who knows where it's going to settle out, but we're still seeing some probabilities of rate increases. liz: gotta ask about commoditieses, because the one positive s&p sector last year was energy.

commodities did pretty well, but do you anticipate, do you see the volume of trade at the start of this year that perhaps you saw at the end of last year or the middle of last year? >> well, i think it's hard to predict a commodity trade especially in a week's time of trading only a couple of days into the first of this year. but, you know, i think when you look at what's going on around the world, you know, for grain products you're always going to have factors that leaped into it not only geopolitical like in ukraine and russia, but you're going to have weather factors that play into the grains. and with the energy component, everybody believes that maybe the republican congress is going to turn back and get us back to energy independence. they have one problem, they have to get it through the united states senate and to the president as well. there's a lot of factors into the oil market, so i think there's still people that need to mitigate and manage risk into the energy products regardless of where the price of oil is today and where it was the six months ago. i think what's really important is what you just mentioned, liz,

the cost of capital and people are borrowing, you know, on the s&p 500 companies with a b rating or between d and a, they all have department that's going to be rolling off and coming in at much higher rates than before. and now you have to make a decision, do you want to pay down debt or continue to reward your shareholders by holding that and paying a higher service rate. you need to manage that risk, and that's where i believe our treasury complex comes into play for so many companies to mitigate that risk so they can continue to reward their shareholders as they continue to hold. liz: mitt gated risk is great. -- mitigated risk is great. people want to add on to their portfolios. they want to see that yield. i'm looking at the volatility index, down 5.7%. volatility was a great trade e in 2022. what do you with foresee for 2023? >> i think we're going to see a lot of the same, liz, to be honest with you. i just don't see how from these levels we just automatically

correct and see a perfect year of all up markets, interest rates down. i just don't see that happening. it took a long time to get the fed to where they're at today, so i think there'll still be a bit of the overhang in the market as it relates to the fed and the concerns the market has about that. we're not out of the woods on inflation, and i think people think that a we are. you know, maybe a bit of a misdirect there. i think we might if see a little bit of the same that we saw in the last two quarters, 2022, you know, continue on through 2023. liz: real quick, terry, i've got to ask you about crypto was i saw -- because i saw that the derivatives volume had dropped something like 49.2% to 14.# billion. >> yeah. liz: you know, do you anticipate that this is going to be a recovery type of situation? >> listen, i -- liz, you know how i feel about crypto. [laughter] i was very cautious about listing this. the products that i have listed, the products that i have listed

are so highly regulated, you know, sometimes people are are surprised we even have any volume because compared to the cash markets where no regulation, we have very restrictive crypto markets. i'm not a bit surprised to see the volume come down some. the volatility in crypto all happened at the beginning of the year of 2022, and it's kind of been a little stale since then. we've been sitting in this 20,000 to $16,000 range on bitcoin for quite a few months now. so i'm not a bit surprised to see the volume come could be some. people are focused -- come down some. people are focused on equities and the other products that you and i just talked about. so it doesn't surprise me a bit. liz: terry, great to see you. i hope we'll have many conversations this year because you guys run the largest derivatives trading floor in the world. thanks for coming on. >> liz, it's always a pleasure. thank you. liz: okay. and go, l.a. kings, and not the

chicago -- >> are you still on that? liz: i'm still a kings fan. [laughter] that's football. southwest putting a number on the hit it's going to take from that holiday flight mare triggered by its technological breakdowns. crew staffing software has become crucial. yes, the technology. up next, delta airlines' ceo and keynote speaker here at ces, bastion is going to walk the floor with us to talk about how tech could make or break a commercial carrier, and we'll ask does he envision one day that drones will be big enough for passenger flights? because we've got some drones here. but ces is all about gadgets and gizmos. check out this thing, it's called the optimus prime from transformers fame, more than meets the eye. watch this. optimus prime. of transform. here it goes. this is an action figure. it's going to be the next big

thing. very expensive. you better not show it to your kids, because they're going to absolutely love this. optimus prime, transform. how cool is that? okay, you want the the price. >>some $1,000. we are coming right back with much more live from ces. stay tuned. closing bell is in 48 minutes. the cow at session highs, a gain of 760 plus points. "claman countdown" is coming right back. ♪ ♪

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♪ liz: welcome back to the floor of the ces, consumer electronics

show, 2023. southwest, let's take a look at that stock at the moment. it is actually higher by about 2.6% even though the airline, they came out with a number today. they said that they do expect quite a revenue hit. i believe in the fourth quarter the revenue is going to be a loss of 400-425 million all stemming from the holiday meltdown, right? canceled more than 16,700 flights in one single week leaving hundreds and hundreds of passengers stranded, you know, the bag baggage was all over the place lost at the height of the hold day season after the scheduling and staffing software suffered, you know, a type of situation, complete failure, while there was a pretty severe weather system that swept across the country. now, while the other major u.s. airlines and carriers were not immune to, of course, weather -- because it affects everybody -- delta, american and united made up only 10% of the cancellations.

southwest, of course, the other 90%. so they're coming under fire for not having updated their staffing software, and we're august technology here at ces. -- talking technology. that's the big discussion. so what could other airlines, southwest maybe, learn from from one of the top-rated airlines in the united states? joining me now from the ces area because we're here in -- hearing drones. we don't have planes flying around, although there's that thing -- i don't know if you've seen this, frank. it's great to have you. >> great to be with you, liz. liz: let's just talk a bit first about that technology for southwest airlines. what is it that delta does that perhaps protected you from something like that? >> well, first of all, it's great to be with you. it's exciting to be back on the floor of the ces share. it's -- show. it's incredible. i don't know, i don't have any access, any nonpublic information on southwest, so i really can't talk about it.

at delta the, obviously, staffing technology, planes, mine, we have an -- i mean, we have an awful lot of big, analytical decisions that we have to take into account and optimize particularly when you get into interrupted operations. so it was unfortunate. none of us, you know, none of us took any joy from if seeing that, we all felt bad for southwest and the customers and the people. but i think there's all things we can learn from. you've got to watch and make sure we go back and continue to test our technologies and our staffing models to insure that we don't get caught many that kind of situation. liz: transportation secretary pete buttigieg has said that southwest should pay for this, you know, they should reimburse their travelers who were affected by it, and if they don't, you know, the fear is that there will be more regulation coming down for all of the airlines, correct? where do you stand on anticipating what the government might insert itself into when they hear from americans who were very upset? >> well, my understanding is

southwest has said that they're going to take care of any of the damages, the claims, the refunds, and i applaud them. that's what they need to do. liz: all right. let's get to you guys and how you are managing the staffing situation, because obviously pilots, that is a massive issue. where do we stand? there was quite a shortage over the last year or so. >> we've hired 3,000 pilots over the last 2 the years. so we actually -- 2 years. we actually have plenty of pilots, the challenge is getting them all trained because we have a limited number of simulators, of training devices. and so our goal is by this summer to have that completely worked through -- that queue completely worked through. we're not in a position where we have cancellations, delays or interruptions caused by our pilots, we have plenty of those, but we we do need to get our training back into a normalized pattern because we have a lot of pilots that are absorbed, not just the new pilots, but the existing pilots have to train the new pilots and give them the

operational experience. so this has been kind of a 3-year exercise to get all of our staffing, the experience and the training to be ready to go, and our plan is to be ready to go for the summer at least 100% back to where we were in '19. liz: would you ever consider and are you looking into creating a flight academy for delta? >> we don't have a flight academy, but we have programs to help work with the training schools, with the flight schools, with the aviation academies to bring into delta the, you know, qualified pilots, particularly diverse pilots that we're out looking to whether it's women or people of color. so we work quite actively, we have a program that i think we have over a thousand people engaged in at various stages as well as bringing in of our own employees, flight attendants, ramp agents, mechanics who want to become pilots, we're helping hem get into it, because it's a generational changeing opportunity for people. liz: exactly. it's a massive sift -- shift. we're here at ces, of.

every single one of these people all around here has a minimum of three devices. i mean, again, it's ces, so most of them have five phones coming out of their head, a laptop, all kinds of equipment they need connectivity for. you just announced all wi-fi will be free on delta flights, so your competitors are charging for that. that's a lot of money that they would get from wi-fi fees. have you put -- have you been able to put a number, a dollar figure on what not chargeing people would -- charging people would actually mean for you as far as revenues? >> you know, it's interesting, in my opinion, airlines charge for wi-fi not because of the revenue they collect, but to kind of cover the capacity usage on the plane. so the answer is to invest in new technologies, new satellite capabilities, and we've done it, by -- i know others are looking at similar types of things to create the connectivity and the

bandwidth so that everyone can be on. my goal at delta is every customer, doesn't matter where you're sitting on the plane, what you paid or what credit card you used, you have free wi-fi that works, that is the same quality why pie in the air as standing -- wi-fi as standing on the floor at ces. liz: well, god bless you, because wi-fi, people have conniption fits when it's not on a plane, so i think it's great as we continue to sort of evolve. as we finish up with ed, we're in this area which is called otel, they have robotics. i'll come over on this side. this is a drone. a tiny one, obviously. and it's hovering. and i just want our viewers to know you're not allowed to operate drones unless they're many a cage of sorts. so -- in a cage. so we've got this cage that's it's in. but transport yourself to the future. do you eventually see a day we would have a passenger carrier operated by drone? >> no. not at delta. i will never get on a plane

without two delta pilots, period. we invested this past year in a operator, jovi, and it's developing technology -- liz: sure. >> but two pilots on the plane. so can i envision that someday? of course at some point we're going to have some elements in terms of technology, but it won't be on delta. liz: never on delta. okay, it's so great to see you. >> it's great to see you, liz. happy new year. liz: and you had a keynote, obviously, you're all about technology. >> it's about making customers better. liz: thanks for coming on fox business. >> my pleasure. liz: it's great to see you. here we go. when we come back, we're going to walk -- in fact, we're going. to walk over to a personal area that is really actually quite fascinating here on the floor of central hall at ces. massive, it is crowded. you can see all of the people around here. and as we check out the drone

made by otel equipped with three cameras and two different sensors, you've got to stay tuned. much more ahead, including the ceo of might be -- mobileye. check out this big move on this friday. ♪ ♪

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>> i'm ashley webster with this fox business alert. all the major exchanges up more than 2%. this is going on as the house right now is voting on whether to adjourn until 10 p.m. after kevin mccarthy's bid to be speaker again fails, this time on the 13th ballot. by the way, this is the fifth longest speaker election in history, and it's not over yet. world wrestling entertainment stock spiking after it confirmed the former ceo and majority shareholder vince mcmahon will be reinstated to the company's board. the entertainment company also said it intends to undertake a review of its strategic alternatives with a goal to maximize shareholder value. mcmahon also saying he's going to bring back michelle wilson and george barrios, the stock up 18%. costco also higher after wholesale retailer reported solid sales numbers for december. costco reporting necessary sale -- net sales of $23.8

billion in december, an increase of 7% year-over-year. the stock up more than 7%. bed bath & beyond continues its selloff after sharp losses yesterday. management saying the company is low on cash and considering bankruptcy. one bank dropping its price target from $2 down to 10 cents citing the concern of bankruptcy and weak fundamentals, down another 23% today. tesla shares gaining after hitting a fresh 2-year low after it cut prices in china for the second time in less than three months. that's fueling forecasts of a wider price war amid weaker demand in the world's largest auto market, but the stock has come back a little bit in the afternoon, up 2.5%. all right. that's your look at the markets, let's get back to liz claman, the lucky lady. i'm a gadget guy, liz, i wish i was there with you. [laughter] liz: you know what? i have to tell you, ashley, i'm

glad you brought up autos because we're going to show you an absolute sick bugatti in just a second. why am i standing by high sense? a chinese television set maker. it's all about the big swinging muscle that all of these companies try and do with their displays. i mean, they bring many a waterfall? to the floor of the las vegas convention center. okay. as my mother would say, yes, yes, very nice. okay, they've got their monitors. but let's cross through the big crowds to the bugatti display. guy gati, of course -- bugatti, of course, is a very expensive car company. this car is $4.2 million. okay? $4.2 million. and you say, darn, i'll never be able to get abu gati. oh, yes, you will. bugati's come up with these electric scooters available for the low, low price of $1,200. if the one on the far left is about $1,600.

touch screen, they can lock with a code. and they are made by bugatti. and as we bring up autos, autos have become the story here on the floor of the las vegas convention center every year. i can remember a time where they put autos all the way into the west hall. it wasn't even autos, it was, like, asian chinese speaker companies for cars, little gang egypts -- gadgets. now, every car company if they are not here at ces, they are not existing, okay? so that's where mobileye comes in because it's not evs and autonomous driving. mobileye has created its own supervision. you've got to forget the man of steel, right? it's super vision that could play a key role when it comes to driverless cars that see through blizzards and around corners. the founder and ceo joins us

next. we're live at ces 2023 in las vegas, and we've got about how many minutes before the closing bell rings? we've got 'em, and the rally is holding, up 724 points for the dow jones industrials. crude oil is just flat. that's kind of interesting, because that was the trade last year. dow stands at 33,655. we are coming right back. stay tuned. many. ♪ ♪ ♪ at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect. hey guys, detect this: living with hiv, i learned that i can stay undetectable with fewer medicines. that's why i switched to dovato. dovato is for some adults who are starting hiv-1 treatment or replacing their current hiv-1 regimen. detect this: no other complete hiv pill

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been happening with met ca can, formerly facebook, mark zucker legger's dream of what he believes is going to be the big, big thing is still in the early stages. but i want to show you where we are right now. in this company is called lotto, and what they do, they create what is called the actual subject and the games and the metaverse characters. and all of these people are wearing oculus ii headsets made by meta. st all about vision here. and -- it's all about vision here. what they do is they specify very, very focused -- and this is the karen. she is showing everybody how they do it, okay? and they're experiencing a very fascinating thing that i believe is -- she's talking about going into stores and stuff, but you can make your own avatar and all that. and if you find this socially stimulating, then good luck to you. [laughter] this may be the way of the

future with all of these. but remember, microsoft, apple, microsoft -- they're working very hard to create headsets. so it is going to be a big personal technology, consumer technology moment. and you're kind of seeing it right here. in the meantime, we are, as we mentioned, here in central hall. now, autos and vision, everything about vision, it is very important especially when it comes to cars. so to get over to the car area is in the west hall. and we could never get there now because it is so huge. it's like a mini detroit auto show. so let me show you what we did to get there. we took what's called the vegas loop, and we shot some video of this. it's absolutely unbelievable how this thing works. it's put together by elon miss' boring company. you descend an escalator, and normally what would be a 25 to

30-minute if walk from where we are to the west hall takes two and a half minutes in the tunnel. it began three years ago. they started to bore through underneath, and it cost $48.7 million, excavated about 49 feet per day. it can move more than 3,000 attentions an hour via the teslas that you see. and you go through this tunnel, and all the colors and the lights change. ultimately, it will expand to allegiant stadium, they hope by super bowl 2024. now, those, all those teslas have drivers, but autonomous evs as in, look, ma, no hands, they can take taken over the west hall, and mobileye is center stage. its supervision that can actually see pedestrians, potholes, road cracks, and i'm guessing even through bomb cyclones the likes of what the west coast just went through. can mobilewith ye lead and take

the lead in the race to real autonomous driving? the founder and ceo who just won motor trend's pioneer award last might joins us live. emnon, congratulations on the award. >> hello, liz. liz: that's fantastic. the supervision, you've got to explain to us and show us how it works, because you were way too far or over there for us to get there, but what have we never seen before that supervision shows us? >> well, you know, it's a system of 11 cameras around the car, 7 long range and 4 parking, you know, powered by significant, you know, silicone high performance computing, and it's -- you get a feeling of a totally autonomous ride, but it's an eyes-on system. so it means the driver needs to be the alert, and what is really important about system is that once you as the carmaker has invested in the system, going to

full autonomistmy is really becoming incremental. the setup of the sensors will give you an idea. so 11 cameras, you have here a corner, front-facing corner camera, a rear-facing corner camera, and you have on the windshield two cameras, one is at 120 degree, another is very narrow 28 degrees. all of these are 8 megapixels, it's very, very significant. and then you have the rear camera and four parking cameras, altogether seven. and then all the electronics are behind the rear seat, and you get a feeling of autonomous car, autonomous drive with high definition mapping. we have a system for building high definition mapping through crowd sourcing all over the world. yes. liz: what else can it do? i mean, evasive maneuvers? can it do front and rear collision avoidance? because you talk about the

driver being alert. does that mean that you can't be text thing at the same time, bue time, but that the system can still do rear collision avoidance? >> so it can do all the functions of the collision avoidance, collision mitigation, but in addition it can do hands-off, you know, hands-free driving with the monitoring system that a gives you a full, full range of capabilities driving on highways, urban roads and round-abouts, managing are traffic lights, stopping on red, taking unprotected turns. but the driver needs to supervise the system. the reason for the driver needs to supervise the system is, you know, if you have black swans or some edge cases, the driver needs to be aware and take control. once you add additional senators for redun dante -- redundancy,

then you can go into an eyes-off system in which you can go to sleep. liz: okay. that's what i wanted to bring up. you said lidar. there are the camera people who believe in cameras, and then there are the lidar, the light detection and ranging people. you're both. what advantage does a hybrid really bring to the driving experience? >> so it brings redundancy. so you have a camera system has capable to do an end to end autonomous driving but not at the need time between failures that is good enough to remove the driver. so now you have a ladder for redundancy. whatever the camera does, the lidar does as well s. and when you fuse them at the high est level, it's just like in aviation. every system in an aircraft there's duplication with other systems doing the same function. same thing with autonomous driving. you have multiple modalities,

you have cameras, lidars, each one creates redundancy to the other, and that way you can raise the meantime between failures to the level in which you can remove the threat. liz: okay. i want to show the markets for a moment because we really have a major rally going on right now. dow jones industrials is up about 760 points, very close to session highs. and we do have the s&p and the nasdaq roaring higher. nasdaq's up 284 points. mobileye went public, it was spun off from intel. you were, before that, the biggest ipo in israeli company history, which is saying a lot because there's so much innovation in israeli tech companies. but, you know, today you have a very good stock price. it's up about 5% at last check. since you spun off, since the ipo you were up about 93 3 -- 9.33%. tell me where you feel the revenue's going to come from. you put out some projections on what you believe this system

will bring by, what, 2030, 2035? >> so we have estimations that, you know, our driving assist, you know, design will bring if about $17.5 billion to 2030. out of it, these kinds of systems will bring about $3.a 5 billion. and this is based on design wins we've won to date. as we go forward with, that that a will increase the contract value. in addition, we have also contract value for mobility after of the service, our robo taxi, which your camera aman can point here, this is a platform for robo taxi. we have also, you know, together with a platform builders we have business for about $3.5 billion up to 2028 for our robotaxi. so our growth is fueled by content, increasing content for cars.

liz: amnon, congratulations on the award. that is saying a lot considering the competition here at ces. please come back and visit us soon on "the claman countdown." congratulations. >> thank you. thank you, nice to see you. bye-bye. liz: okay. so i'm looking at the dow jones industrials, up 747 points. but i also want you to look at this, the world's first electric lunch box. the reason for showing this to you, it's about $240, it uses steam to keep your food nice and warm and cozy, if that's what you want. but it's all about a consumer electronics that may or may not eventually resonate with the public. again, no public invited in here. these are all journalists and ecnologists here at ces -- technologists. so we're here to bring it all to you. closing bell is ringing in about 10 minutes. markets are wrapping up their very first week of the new year in quite the rally mode. we are coming right back, don't

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liz: the market rally it is. the s&p up 888 points. the dow the high of the session. 771 points. at the moment, one area tech mission is crypto. not hearing a lot about crypto on this floor. the next leg of indictment. in the sam bankman fried case. >> money stolen out of the exchange wallet and there are

allegations, no one has gone to jail yet and no one has been convicted. but these are the allegations. this part is picking up steam. this aspect of political contributions. it wasn't just sam bankman-fried, but whether other people, either alameda or ftx, they are together in the same ownership structure. the people there went out and gave political contributions to various people in washington who could eventually effectuate changes in regulations of crypto. his big thing is to have the crypto regulations run with a lighter touch. he managed to get in with gary gensler twice over the course of the year. he was tight "the finance committee on the democratic

side. maxine waters blew a kiss at him. how did he use those contributions? were they bribes? that's a tough case where they probably got him. they used their real names in making campaign contributions. from what we understand in the initial indictment, sam bankman-fried they are leajing g did not use his name and you can give more money and exceed the limits. that's where we understand the investigation is starting to turn now. we hear that the u.s. attorney's office is expected to have more cooperators in building a case against sam bankman-fried and possibly others. sam bankman-fried's lawyer did not return calls for comment.

liz: charlie, thank you very much. we've have now pushed into positive territory for the week. the nasdaq was the one holdout. now all three majors will end the week in the green. let's bring in our countdown closer. we may see a .50 basis point hike at the next meeting. .50 basis points really? >> absolutely. you saw that job report. there is too much strength in the job report. the feds will have to keep the pedal to the metal and push rates higher. liz: what do you buy in this atmosphere. >> the fed is giving us a gift right now. the short duration high-quality ponds at 4.5%.

let's ride out some of the volatility in the stock market and take advantage of these attractive yields. liz: everybody is talking about technology. do you think it rears its head this year? >> technology is the best place to buy growth. i think having growth in your portfolio makes sense right now. liz: happy new year. everyone should come to ces at one point or another in their life to see all the technology that is here. what a great first week of january. dow jones ending the session up 696. that will do it on behalf of the claman countdown. [♪♪] larry: hello, folks, welcome t