society. but when you think at some point you say to yourself, well, i've done enough, i've earned this money, i've worked hard and i want to take a break and you're forced back into the labor force, i hope jay powell knows a few folks in this age bracket that aren't making half a million dollars a year like his friends at the fed and another million dollars from speeches and having retirement with golden parachutes to say, you know what? i'm hurting a lot of people around here and maybe, just maybe, pull back. meanwhile, i just mentioned louis vuitton on the upper end? on the bottom end, look at this, dillard's up 8% today. etsy up 5%. crocs up 6%. burlington up 2%. i don't know if the fed likes this or not, but i do. liz claman, over to you. liz: yeah, i'm liking some lvmh. oh, you mean the stockings. [laughter] never mind. charles, thank you very much. color us green as we kick off the final hour of trade.

check this, the dow and the s&p are at or very close to session highs, they are both on pace for their second day of gains in a row. and president nasdaq can hold -- if the nasdaq can hold on to this gain right now, the tech-heavy index will clock four up days in a row, the longest win streak in four months. with the s&p up 37 points, that's good for just under 1% there. the broader market showing real resilience in the face of news that could have shaken and stirred stocks much more dramatically. the first full aviation ground stop since the 9/11 terrorist attacks. and we just heard from the white house moments ago saying that so far no signs yet of foul play at work. listen. >> we do not have evidence that this outage was caused by a cyber attack. the faa is working aggressively to get to the bottom of the root causes for the system outage so that it does not happen again. liz: the administration and

lawmakers demanding an investigation into what caused the overnight failure of the faa's pilot mote by case system which triggered nation wide ground stop of all flights. now, those flights have resumed, but the cascade effect is still playing out. according to flightaware, right now commercial flights that are happening, about 3,000. total u.s. delays at the moment, 8,357, and total cancellations, 1,233. now, while u.s. airline stocks had plummeted premarket, we do have about let's call it 59 minutes left to trade, everybody but delta, and i'm going to call delta flat at the moment because it's down just two pennies, they are, at least the u.s. air -- carriers, no worse for the ware perhaps because -- the wear. even the dow transports, which are chock full of airlines and have been in the red for a good chunk of the day now pumping higher by 220 points.

so they have gone red and now -- that's a big move there. now, for the very latest on the situation, let's take it to grady trimble live at chicago o'hare international airport, one of the busiest airports in the world. grady. >> reporter: well, liz, what we're seeing here is the airlines trying to play catch-up. you know, earlier this morning when we first got word about this system outage around 5:30 eastern, there were about 400 delays across the country. you just touch thed on the latest number -- touched on the latest number, 8,000. so we've seen it grow and grow and grow, and now it's not that system outage that's to blame, it's the ripple effect that we see anytime there are delays and cancellations. so i want to show you the departures board here at to hour. all of that orange you see on the board anticipates some delay. some flights it's only 30 minutes, it's up to 3-4 hours for some passengers. and you might be able to see on that board it's, like i said, not the system outage itself

anymore, it's crews not being where they should be, it's planes not being in position to board and take off from where they're supposed to. i've talked to a lot of passengersed today, they are understand write frustratedded by these -- understandably frustrated. they also want to know why was there no backup to the backup if this pilot alert system was so critical? what do you think of the fact that the one software system going down can ground flights all across the country? >> i mean, that's unbelievable. it's mind-blowing. [laughter] yeah, quite stressful. i'm trying to be, like, calm and relaxed at the same time, but everything's very intense with. i've never come to the airport and be so, so tense right now. >> this is insane, man. this is going to be trauma -- especially with lee kids? it's going to be traumatizing. [laughter] >> reporter: not good. you know, this is certainly the faa's fault. like you mentioned, there's

there -- it's there their system that went down, but the airlines have to clean up the mess. all of the major airlines, we've confirmed, are waiving flight change fees as well as fare differences, if you have to rebook on a new flight. so that's how they're dealing with it in terms of the customer service perspective, liz. but obviously, we've seen major delays all day today. the question is, how long will this continue? how long will the problem cascade? liz? liz: yeah. well, you heard from those passengers, thank you, grady, anxiety and a little bit of trauma. no doubt, the halt has been. >> crippling for passengers, many of whom are still recovering from the southwest airlines staff software mess which forced the airline to cancel 16,000 flights right before christmas. that's the airline that the, if anybody if's a little bit deeper in the red, i mean, it's not that big of a drop here, but down a third of a percent, it's southwest. what must the faa do to make u.s. air travel more dependable

for both leisure and the business travelers out there? randy babbitt ran the faa from 2009-2011. he's also former svp at southwest and a pilot. randy, thank you for being here. what can you tell us about what happened to this notice to air mission system, notam, that that caused the problem? >> well, fundamentally, the system obviously went down. i think there's a lot of reasons behind what could have happened. you certainly could have had a hardware problem, you could have had a software problem. cyber attacks need to be ruled out, but there is a back-up system and, obviously, it failed to kick over. so you had a compound issue, you know, with pretty dramatic results to the negative. i mean, this country runs, you know, 45,000 commercial flights a day. at any given moment there's 7-9,000 airplanes in the air, and it obviously had a very serious impact.

liz: yeah. 2.9 million domestic passengers flying every single day, so the point is well taken. can you talk about how vital this is, and to grady's point, our reporter at chicago's o'hare, the redun dandy issue, why wasn't there a redundant system that would kick into place? that would make sense, would it not? >> it certainly would. now, realize, i've been gone a number of years from the faa, and i don't know what upgrades they have made. but in the past almost if not double, in some cases there are triple systems to insure the integrity of the air traffic control system. you're covering some 29 million square miles, and this is information that every pilot needs. when hay dispatch -- they dispatch, they need to know there's any anomaly, anything out of order, anything not operating either enroute or at the destination airport. and, clearly, we've had, you know, multiple failure here.

the primary system went down, and that could be data corruption, it could be the fundamental system itself failed to kick over to the backup. so i think we just have to wait and learn from the faa, and i'm sure there's a big team looking at that right now to determine what happened and, more importantly, how to make sure it never happens again. liz: well, that's an important point because you have reasons secretary pete buttigieg who is, apparently, going to direct a review for the causes, he's going to recommend next steps. but the senate that oversees the transportation, that would be senator maria cantwell, from washington state, she said you've got to have a resilient air travel system here in the just. -- in the u.s. i don't want to nitpick. as far as i'm concerned, any plane that lands safely is the best flight ever. i see it that way. however, we've got business viewers, business travelers, and this is really the start of the

business travel season as the holidays are over, although martin luther king jr. day is starting on monday, so that's a long holiday weekend. i guess the question is, we know that by the edge of the fiscal year -- end of the fiscal year which is september of this year, the faa needs to pass, i guess, a reauthorization bill? are hearings going to gum that up now because of something like this? >> oh, i'm certain this'll be front and center. having testified a number of years when the reauthorization comes out, it's like any corporation, you know, where do you put money. and, obviously, this is something that's going to be looked at with a lot of intensity. liz: yeah. >> and, you know, of course, in order to fix something, you have to know what went wrong. and, you know, modernizing the system and, of course, the system is big and robust as it has to be at the faa, you don't just -- it's not like buying another computer and saying, oh --

liz: of course. >> -- version 11. no, this requires a massive amount of infrastructure and software change. liz: randy, thank you for your service and for coming back on to talk about the expertise that you are, obviously, well aware of. we appreciate it. >> well, thank you very much. and let's hope system gets back to normal and people eliminate some of this frustration. hanks for having me. liz: yeah, absolutely. as we look at the markets, we are very close to session highs right now. and at this time tomorrow, the whole thing could change because the markets will, no do you want, be trading off the much anticipated december read on consumer inflation. how to trade ahead of the all-important cpi report. we have our floor show traders next to tell you how to do that. with the closing bell ringing in 50, 5-0, minutes, we've got the dow jones industrials up 200 points. "claman countdown" is just getting started. we're back in a minute. ♪ ♪

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liz: fox market alert, we just lifted to new session highs, so we've got a new ceiling here. at the moment the dow is slightly below it,s up 2 the 21 points. the s&p up 40 points, the nasdaq up 149. but start your countdown clock, because we have just over 17 hours until we get that key consumer inflation if data a for december that could help determine the federal reserve's path forward. investors are hoping that maybe a cooler cpi number will prompt the fed to ease the pace of its interest rate hike, and they got a dovish sign this afternoon. boston fed president susan

collins telling "the new york times" she's leaning toward a quarter point versus a half point move at the february 1st meeting. so as we chew on that, to the dow heat map. caterpillar hitting a record intraday high for the third time this year. before reversing course. we do have it slightly hire, although it did dip into negative territory. the construction equipment giant is at the moment slightly in the glean. microsoft, home tebow showing the most -- home depot showing the most muscle. fourth quarter earnings season kicks off this friday with the big banks, jpmorgan,back of america, citi and wells fargo. really a big friday day when it comes to earnings. apple, let's get to that the, following closely behind goldman, up about 1.6%. 9 yet another sign that the iphone maker is looking to dump outside partners. reports are the tech giant will start using its own screens starting in 2024.

now, as we told you yesterday, apple also reportedly plans to drop broadcom and qualcomm trips in favor of in-house designs for its iphones. can we look at salesforce? it's plumbing the depths of the dow, down about 2 the.33% after a bern steven became the one and only bear on crm, downgrading the software company to underperform saying salesforce has entered -- this is a real diss -- growth purgatory. and after quite a disastrous 2022 for tesla, shares are again ticking higher as the ev giant nears a preliminary if deal to build production facilities in indonesia. folks, this stock has gained 8% this week alone since its 52-week low of $101. the stock is up more than 10%. and, by the way, this is helping too, goldman named tesla its top pick of 2023. and tesla, by the way, one of the top holdings of the want etf, the daily consumer

discretionary bull exchange-traded fund which is having a nice bounce to to start the year. other top holdings include amazon, home depot, nike, mcdonald's. look at amazon at the moment, a very big move. can other sectors follow suit? let's get to the floor show, and we've got ubs managing director jason katz with us along with trader john corpina, her rid january equity partners. john, you're right will on the floor. is is this the january effect? we've got a nice couple of days here. >> we certainly have, liz. the santa claus rally has been pushed into january. [laughter] all things considered what we've been through and what we're looking at right now, the activity so far this year, albeit last week, last week was a short week and next week is a short week, we're seeing a base. we're seeing some stability back into our markets. and i think that's what we really need at this point. the headlines, the winds that we've had in our pace at the end

of last year are still here, but it seems like they're not as strong. as we get into this economic print tomorrow, we're hoping to see that trend is getting lighter, inflation coming down can and the fed claiming that they're a going to be data-dependent will hopefully use this information tomorrow to make their plan for moving forward on how they're going to handle rate hikes. all this put together is adding some optimism into our markets. a few things that do concern me is that the economic problems that you and i and everyone else have been talking about for some time, it does not go away overnight, and we have to start somewhere changing paths. take a look at vix, we're having significant moves in our market and stability mostly to the upside. vix is up today. so we're seeing a disconnect in where it really should be, so that's something we should just keep an eye on. i don't want to draw a correlation to it just yet, but it seems like there's going to be catch-up on one of those at some point. liz: yeah. i recall seeing that kind of behavior where both the vix and the markets were up a couple of

sessions in december. this brings me to jason katz. we get that cpi number tomorrow. the expectation is to see a gain of about 6.4%, and while that is definitely lower than november's 7.1%, you believe that consumer discretionary, right, the stuff that you don't need to buy, will actually do well under this circumstance, correct? >> that's right. and i also think you need to look much longer term and much more thematic. i think about the war in ukraine, right? if there's anything we've learned, we can't be beholden to our enemies for our energy and food. food and ag stocks, companies that that get clean water to polluted areas, vertical farms or companies that that a boost the agricultural yield by, you know, getting unfertile land farm bl. so recession, no recession, they're investable areas in this market. liz: yeah. we're looking at some of the etfs of global field, agriculture. but where will you go? do you go to the grocers?

do you go to the producers? >> i think you can go both. look, inflation is coming off the boil. hopefully, we see it come down on the housing side. the food side's been pretty sticky, and i think west cure for those -- best cure for those high prices are high prices, and i think you're going to see great margin improvement from producers as well as those that sell. liz: john john corpina, we have never in the history of the stock market seen the market bottom before a recession kicks in. and i'm not say saying there's going to be a recession, we've but had a few calls that say, yeah, we'll have a mild version this year. so does that mean we have to wait for the s&p to bottom, and what do you see as the bottom before you start to have the flash paper e moment where people jump in and buy stocks? >> yeah. you know, a few points there, liz, claiming that we haven't hit a recession yet. we might have seen that bottom already. also i love these historical

comparisons, and i too get drawn into that. but the environment that a we're in right now, i think, is unprecedented. look back through the given beginning of 200 to where we are now. -- 020 to where we are now. global shutdown due to a pandemic, interest rates hike, continued recession talk, all this stuff the kind of separates us from what's happened historically. i do think we're going to continue to see a lot of volatility in our markets similar to 2022. maybe the swings aren't going to be the as much as we've seen in the past. if we can get through the first six months of this year with some sort of, you know, basing out and stability in this market, it's going to set us up for the end of the year. liz: and i totally get that that there are screaming signals that that it's different this time, like, the yield curve has been screaming a recession for, what, nine months, jason, even more? if however, we have earnings season kicking off on friday. we keep hearing that there is the going to to be an earnings recession.

and it's not going to last just one quarter. earnings take a while to kind of work through the system. are you worried about that at all? are you predicting that? and how does an investor protect themselves? >> i'm concerned but not overly concerned. companies have invested in technology over the last 20 years, and it's coming to benefit. companies are doing more with less. and the consumer 's proving to be so much more resilient. this post-covid mentality of live life when you can is going to help the consumer continue to drive earnings. yes, revisions have occurred, i'm not so sure they're going to fall off a cliff though. liz: and finally, dow jones industrials right now, john, up # 31, and we've -- 231 and we've got the s&p up 42, same with the nasdaq, up 59, 1.5% -- 159. does ec start to rear its head again? >> tech has been one that's been beaten down, and it seems like it's one that's lagging at point

right now. you were talking about apple on your lead-in here, that's going to be a company and a headline that's really going to pull that whole sector out if it can. we're starting to see it, obviously, pick its head up. we're winning to need a continued pattern there, but tech is lagging behind. liz: folks, you look at things like amazon which, i guess, the 52-week low was 81. it's at 94 at the moment, annual high was 170, but it's the up 5.5%. you've got to watch these things and pick your points of entry. you're not going to catch the bottom or the top, right, jason? >> definitely not. take a big chunk out of the middle. look, the pessimism is palpable. i've never seen such a high put to call ratio, but what about the amount of retail that sold equity funds at the first of the year? that's actually a good counter signal. liz: john, jason, thank you. we just want to make a quick note here -- >> always a pleasure.

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liz: all right. so now we're watching this very closely, what i thinkst important to do here is give you guys the session highs percent markets. today's session high for the dow jones industrials, a gain of 219. we're up 211. we've got the s&p, session high 39, and right now the s&p is up about 40 points. look, it is no secret that apparel and lingerie maker victoria's secret is on track for its fourth consecutive day of gains after the company's board approved a new share repurchase program of up to $250 million. the stock the is popping about 16%, or is that 14? 14%. victoria's secret also tightened its per-share forecast to between $2.0 5 and 2.25.

investors taking the scalpel to intuitive surgical shares after fourth quarter sales came in below estimates as last year's resurgence of covid-19 in china weighed on procedure volumes. intuitive makes those robotic assistant da vinci surgical systems. also in europe and the u.s. followed by china in the second half. chinese adrs, american depository receipts, taking a breather after the msci asia-pacific index entered a bull market yesterday. these stocks have been rushing higher, no surprise we're seeing a little bit of profit taking here. and shares of bed bath & beyond surging although off session highs as the retail crowd piles in despite the stock hitting its lowest point ever after retailer announced its intention to explore options including bankruptcy. analytics firm s3 partners says short interest in bed bath &

beyond is 5% of its prix float -- that's huge, by the way. the stock is the third most actively traded on ape wisdom after tesla, of course, tracking sentiment by aggregating mentions in wall street bets reddit chat room. let's keep in mind, still a $3 stock. other popular stocks also rallying with gamestop and amc entertainment. we've got them both charging higher. who is going to take the crown as the top tech stock of 2023? that's a hard one to do the because we know what happened to tech in last year's rout, right? ever corps' tech whiz mark mahaney next to tell us if netflix is set to rise to the top of the sector battered last year. and nfl linebacker brandon copeland began preparing for life after football way back in high school after interning at a hedge fund and becoming so knowledgeable about finance that

today during the off season he is a finance professor at the famed wharton business school. you've got to hear brand new episode of my everyone talks to liz podcast. it just dropped yesterday on spotify, apple pod podcasts, google, wherever you get your odd podcasts. it is a fascinating story, especially considering four out of five nfl players either go bankrupt or get in financial distress after they, of course, retire. closing bell, we are 28 minutes away, and the dow is up 2 the 03 points. we're coming right back. ♪ if. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums]

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liz: all right. a very difficult year for tech stocks in the rearview. amazon down 43% since last year, you have meta, which was so ugly, down 60. we can cycle through these. netflix down 45%.

alphabet, that was kind of messy, down more than 30%. same with uber technologies, booking. that wasn't so bad because that's a travel play. should you get more optimist if inabout the sector year -- optimistic? a new jpmorgan survey of 74 long-term investors found that 43% are expecting internet stocks to rise more than 5% in 2023. and the star of sector, meta. 4 421% -- -- 41% say it's the most likely to say with amazon coming in second. what don't they believe in? 43% believe netflixing will show the worst performance. but the head of internet research team who lives and breathes this stuff disagrees completely. while mark mahaney sees amazon as a top pick for investor with a 2 to 3-year horizon, he'sen onboard with that, netflix is actually his top choice for 2023. new money longs, as he calls them.

i i along with uber and a company called wicks. mark mahaney, you are just loving netflix right now. why? >> well, you're right. now, you know, we did turn tactically constructive on the group as a whole for '23. last year i think we labeled ourselves as muted and cautious which wasn't right. we should have been gnat-out bearish, so i just -- flat-out bearish. multiples have come down across tech and consumer tech that i look at. estimates have been cut, multiples could still go down a little bit, but there have been major cuts taken, and companies have taken reduction in forces. so you do that, you create these interesting eps slingshot opportunities when revenue recovers off a lower cost base, earnings could really recover sharply. that's the tactical setup. netflix, i think it's somewhat recession-resistant. it's $6.99 right now, that's the cost of a grande latte, i think.

it's got a new revenue stream, and that is this ad-supported streaming, and then he was taken some costs out of the business. they didn't overbuild to the extent that some other companies like arguably an amazon and google did. so that's why i like netflix. i think you've got an interesting kind of new product if story, and the stock's valuation -- this is as attractive as you could have found on net application in the last 20 years. -- on netflix. liz: although people missed the bottom. just what we were saying during the floor show. pick your entry point, especially when you think it's been beaten down. yeah, it was beaten down in this one-year picture. mark, i get it, because i do as i study this and listen to smart analysts like you believe that netflix is the king kong of the streamers. it is so far ahead, and it is so committed to spending so much more on content. however, this is a sector with the streamers that lives and dies by subscriber numbers, and if netflix misses, we have seen

the the punishment that stock takes. are you saying just go with it now and ride that the bump? >> yeah. i mean, i know the stock's had a 70%, 80% rally off the bottom. i guess if we go back two years, you could also argue that the stock is, i think, still about 50% below its all-time high. it's just a matter of timing. it's always about the next call on these stocks. it's always the next call. and the next call is they've come out with a new offering that i think addresses price. they've been raising prices consistently over time, and i think hay kind of painted themselves into a premium price corner. this gets them out of that. number two, they can do this in a way that's actually accretive to their economics because of advertising. boy, that's rare. you take your product, cut it by 30%, you can still generate more revenue per user. and the final thing is i don't think the optionality with clamping down a little bit on password sharing, i don't think

that optionality's factored into the stock. i think there's a $500 upside on netflix, and i like the stock. liz: well, we're showing some of their hits. are you looking at one in particular that you believe will be the real revenue driver? i'm thinking way back a couple years to the queen's gambit, which was massive, and, of course, stranger things. you've got those. which is going to be that sort of one that captures everybody's attention? >> well, i guess the way i think about it, this company has 17 billion shots on goal. that's how much they're spending on content. i don't know what the next squid game is, it's just that if a show can show modest success on netflix, netflix is powerful enough to take things and push 'em up into the zeitgeist to impact the zeitgeist which really just means they have a lot of influence. i don't know what the next show is, but they have ability if they get something that works for them, there's a high probability that the next squid

games is going to be big. when that happens, they can really have an impact on the entire user base. and then just there's the core business. you know, and, again, especiallywe go through -- the we may well have a tough macro environment this year, and if we do, inexpensive entertainment, i think, holds up phenomenally well in that environment, and that's $6.99 at netflix for a month, that's cheap. liz: give me your argument for wicks. >> well, wicks is a web presence play. here's an argument which is that this is, you know, it's not consumer discretionary. i think people want to maintain their presence whether you're a entrepreneur, volunteer organization, medium-sized business, you'll still need your web presence, and wicks is a company that's been doing this for many years. the stock went through a major dislocation, so i think valuations become more attractive, and they've started to take costs out, a little bit under pressure from activists, but if you want that package,

somewhat recession resilient and heavy taken costs out, it gives you more upside on the upside. liz: well, you're smart because you put out this note, and you're saying that maybe people are nervous about the first half. you've got second half heroes. give me a line on your second half heroes that you feel are really going to plump up. >> well, okay. i was actually referring to the second half of last year, but i'll tell you what, liz, since you raised it, we had some near-term concerns with amazon and names like google. i think they probably need to do a little bit more cost cutting. you know, they've got a lot of exposure to consumer discretionary spend, and i think that's probably going to soften before it stabilizes and strengthens. but if you're willing to be a long-term buy and hold investor, i'm going to give you two companies, google and amazon, that has been battled -- have been battle tested more than others, that have got very smart, long-term-focused management teams and business models that can generate a lot of cash, and they're sitting on,

i don't know, combined, $180 billion in cash. so they'll buy back their stock too. i think you get a chance to buy dislocated high quality names. both of these stocks, by the way, are trading at trough multiples. i don't like them as a near-term trade ther, but i really do prefer to be a long-term investor. and i wouldn't shy away at all. liz: thank you so much. happy new year, mark. good to see you. >> nice to see you too, liz. liz: thank you. the ftx fraud allegedly perpetrated by one-time wunderkind sam bankman-fried now has other a-listers taking punches. connell mcshane up next with some of the big names as ftx attorneys find billions on the books, which is actually good news that they can then return to some people who are waiting for that money. that's next. with the closing bell ringing in 14 minutes, the dow at the moment up 185. this would be the second day in

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naming rights agreement between miami-dade county and disgraced ftx crypto exchange. which means the home of the miami heat will have to scrub off the name from the arena. the ftx arena must remove all traces of the crypto company's name from the premise. this move comes as the company founder sam bankman-fried awaits trial on multiple criminal charges. connell mcshane is joining us. we have this news. the ftx lawyers are making massive financial discoveries looking for ways to pay back creditors? >> reporter: liz, the new management at the bankrupt ftx claimed to have found five billion dollars in cash and crypto. the lawyer says they may be able to sell some of those assets, to your point repay creditors but the company doesn't know how much money will end up giving back. the company went to counter for approval to keep names of

customers secret and the judge actually went along with that particular request, agreeing with the argument that was made customer names can be a valuable trade secret. we often times see customer lists sold in the bankruptcy cases again so money can be made to repay the creditors. speaking of people who would like to be repaid of by sam bankman-fried's company, there was another court filing that rye revealed that names of some equity shareholders in ftx, huge investing names like the sequoia capital and third point and also some individual names of note appearing as well. tom brady once had a ftx stake valued by forbes at 45 million dollars. ex-wife gisele had stake 25 million at its peak. you might remember the cop meshal ftx ambassadors cut sometime ago, compensated with equity stakes that have appear to be wiped out.

basketball player, udonis has lam, had a small stake, we mention him because he played for miami 20 years. the team recently played at ftx arena with the judge terminating rights deal between the county, miami-dade and ftx. there is lot going on here. at least for bottom line, equity investors, tom, gisele, everybody else, the bankruptcy law is not necessarily their friend, not necessarily on their side, debt will come before equity on priority list. at this point the company says they don't know how much creditors will end up with. finding five billion certainly better than nothing, liz. liz: i find it in the couch cushions every day. i know you do. >> reporter: great catch. special ones. liz: six minutes to go before the closing bell rings. take a look at the dow jones industrials up 219 points. we have gains right now of the s&p of 44. nasdaq is percentage leader up

1 1/2% here. 1 2/3% up 171 points. we got this, richest man in the world, no, elon musk, he is not there anymore is adding to his wealth as lvmh stock hit all-time record high today. just slightly off of it right now. the stock surge comes as bernard arnault, chairman and ceo of lvh luxury brands appointed his daughter as new head of dior. one company, lvmh see is watching. erin gibbs. what is it about lvmh, this is one, again the prices are not cheap here. it is for pretty specified audience this. will run higher. >> i like lvmh. europe is looking much better with china reopening, obviously the euro strengthening. then just a much better outlook

for europe in general. that is the base macroeconomic case. but the real push for lvmh is china reopening. those chinese coming into europe, spending luxury brands, spending, that is where a lot of revenues are based. so that is where you see that. that is one of the reasons it has been the high. i have a couple stocks for europe that i like. but all about reopening, better than forecast economy. particularly that luxury end is one of the better placements for the space. liz: after rocking year for the u.s. dollar last couple of months, it started to waiver and falter discuss a bit. that was the reason that a lot of americans were rushing to europe to buy things like all of the lvmh brands. where do you see the dollar playing into that luxury brand? that is separate from the chinese who are coming back as you say?

>> certainly for u.s. consumers buying directly in u.s. dollars that can obviously be a downplay. that makes the luxury goods more expensive in terms of u.s. dollars but if you are traveling into europe, buying directly in euros it can be significantly cheaper. for example, some of their handbags, it can be a difference of several thousand dollars if you're spending a few hundred over europe. just depends on your preference. again ultimately makes the revenues in euro terms look better in dollar terms and translates to better profits a stock definitely that is worth it. europe has been in general a underperformer for many, many years but because they have been so down-beaten, most of those stocks have generally have good valuations. lvmh is one of the more pricey ones. just in general looking at a lot of tailwinds for european

stocks. anything to do with increased turism, luxury goods will be better picks for 2023. liz: it might not be exactly luxury but if you like the consumer discretionary names, we have to mention amazon. it is having a great session. we have 2 1/2 minutes left to trade, up 9% at least over the past couple days. do you think it fits into your mold at all as we look forward to 2023? >> i think amazon will be one of the winners. right now obviously today it's a great day in general. i like consumer discretionary, amazon has a few headwinds when it comes to meg can gaps. -- megacaps. etsy i prefer over amazon. but my absolute with consumer discretionary anything to do with leisure, travel, restaurants, hotels, casinos. those are seeing spending, increased spending this year. there is something at least

forecasts people are still willing to pay much more even with inflation headwinds. that is when your safest bet going into this year. liz: today notwithstanding, we had the situation with faa grounding so many flights. if you picked an air carrier, whether u.s. or foreign, what would it be? >> foreign, ryanair. again not only increased talf of china opening. again you've got that nice additional euro-dollar and reopening within europe that is also a benefit to it. but, within the u.s., united is also one of the bigger winners for today. you know -- mishaps for your benefits as those airlines are another area looking really good for this year. liz: very close to session highs. dow jones industrials popping up in the last minute. brand new high. 258 and climbing.

nasdaq up 185. s&p powering 48. cpi tomorrow. would you do anything ahead of it? >> today we've seen a lot of consumer discretionary names going up today, but if you get into anything within that consumer discretionary space for today, i think that will be the real winner. look, the entire stock market is just going up, whether growth or value, it is really pretty evenly placed. so just buy broadly. [closing bell rings] if it -- liz: thank you, erin gibbs. the bulls banging down the door rushing ahead of tomorrow's cpi report. tomorrow's trade will be crucial. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. so there's a war going on along the u.s. southern border with mexico. it's a war