cut some high end model three prices by 14% bringing them just under $54,000. the model y starting at $53,000, that's a cut of 20%. but i thought a cut was good news? it is because it puts both evs below that $55,000 cap and they're eligible for a federal tax incentive but current tesla owners say, well, we feel duped. that's it for making money. charles is back tomorrow. for now it's over to liz claman. liz: goldman sacks is calling it one o -- goldman sachs is calling it one of the top picks. lauren: it's got a strong brand but i'm still in the boat, liz. liz: you've anchored about every show today, oh my god. you are the machine, girl. thank you very much. u.s. stocks and bond markets will be closed for martin luther king jr. day but the "claman countdown" is live and kicking because global markets, oil, metals were all open in trading earlier and tons of breaking news and we need to get you

geared up for it. it'll be an epic year of earnings and economo data and french markets enjoying a solid green day and all closing to the upside here. big news though out of germany, who's dax has roared nearly 9% higher just since the start of january. for comparison the dow's gains 3% and christine lambreckt ask out about her concern of leading the military and she offered to send ukraine 5,000 helmets when ukraine was begging for heavy machinery like tanks to fight against the russian invasion. the dax up about a third of a percent and global currency markets are trading and euro hitting an eight-month high against the dollar, $1.08. ing has a note out saying that after the dollar's high wire as leer during when the green back gained 8%, the dutch

multinational bank is "giving the euro dollar forecast a factory reset". they're going full blown bullish on the euro and morgan stanley calling for the euro, which as we said stands at $1.08 to hit $1.15 by the end of the year and we'll be watching that. yes, they're trading currencies so are u.s. commodity markets and they closed an hour and a half ago after both west texas intermediate and bren gushed higher last week post-covid and both saying down day in about eight sessions and profit day and crude in the u.s. dropping 1 1.25% to $75.85 and brent down 1 1.25% about $84.24. we should take a look at copper and gold, both are kicking off 2023 with a shower of sparks. copper has jumped 8.5 year to date and goldman sachs is going sweet on copper say, yes, it is

a proxy for industrial spending, which might fall just a bit if the economy slows down, but it's also needed for decarbonization and the process that that involves and a lot of companies and businesses going that route. gold up nearly 5% year to date and close to 9 month high at $1,918 and change. let's spin is forward to the week ahead. investors strapped to the earnings rocket tomorrow. golgoldman sachs, goldman stanly and wednesday alcoa and pnc reporting and thursday netflix unleashing quarrelerly report and up year to date and they're peppering that calendar including monthly retail sales, mortgage applications and existing home sales and by the way the u.s. is expected to hit the debt limit in three days. to the floor show here to get you suited up for it all, kenny

polcari and bubba. what's the trading report? >> it's all so important now because the data is starting to weaken, just as everyone tells us to your point, larry fink's article about going into a recession, we're not going into a recession so what the data will tell us but then cup that will with the earnings report and what's that going to tell us about what ceos in a c suite start thinking about four to six months out, where do they think we'll be? both are very, very important, and we saw it last week with the banks and maybe we'll see it tomorrow again with goldman sachs and morgan stanley they're allocating more money to low-lost reserve act in anticipation of what they think could be a difficult road ahead. that speaks volumes, and i'm just curious if we'll hear that same story moving through earning season, which i suspect we will.

liz: probably. probably. and there are some exciting things happening right now. i mean, that's why fox business has chosen to be live when the global markets are open but it's not just the global markets. todd bubba horowitz, i remember you last year saying you liked crypto and look at crypto now, above 21,000, up 7% right now. are you kind of getting interested back into that trade? >> well, i like the trade, liz. it's great to be back with you by the way. i love the crypto trade as a investment that you make with money you can afford to lose. obviously it's still a high risk asset, but it has a tremendous chance and the current seizure disorders of the libertarian and currency of people trying to move us out of a communist country and can't walk out with a thousand ounces of gold but you can take a flash drive and russia has been using crypto to make a lot of purchases and the

crypto space has a real future based on what's going on in this country right now. liz: in the near future, guys, we are bumping up against what could be a recession, not to mention the debt ceiling, we're going to take you live to washington dc in just a few minutes to get the very latest on that. but, kenny, let's talk about this possible recession. "the wall street journal" did a survey, 61% of those surveyed said they do expect that the country will enter a recession. friday, we had larry fink on, larry fink of blackrock, the world's largest asset manager and have $8.5 trillion under manage wment and they see the flows coming and going and to me this is the important point, we asked larry point-blank, do you see a recession and what i found interesting was he struck a very measured tone and he only pointed out two real sector concerns. listen to what he said and we'll comment. >> the high probability we're going into a recession, we're seeing housing market really

collapse from the peak levels that we saw last year. we're seeing auto sales starting to fall quite considerably. we're starting to see actually more and more consumers borrowing against their retirement. they had huge pools of money during covid, they weren't commuting, they received some federal payments, and that had mostly diminished so right now we're at this point now where we're not in a recession, but if the pathway continues and this direction and i believe it will be, we'll be in a mild recession. and absolutely there's no reason fortous be in a very deep recession. there's too much things going on in our. -- too many things going on in the economy to be in a deep recession. liz: kenny, he says watch out for housing and autos but that's about it. you're shaking why r head. your head. >> i'm shaking my head because he says we're only going into a

mild recession. we talked about t there's economists and models that suggest unemployment has to go somewhere between 5 and 6 or 6.5% in order for the fed to be successful. if that happens, that's not going to be a mild recession, liz. you and i both know that. so i laugh because larry fink says right now it looks like a mild recession. right now unemployment is only 3.5% and spikes up to 5 or 6, then mild turns into a deeper recession; right? i'm in that camp and i don't want to be in the camp that it'll be a deep recession, yet. i'm just trying to be realistic. if i expect the worst, maybe i'll be pleasantly surprised but it'll get tough because the fed will continue to force rates higher and then we're going to start seeing it really slow down and then we'll see unemployment start to increase and that's when it kind of tips from mild to deeper. liz: yeah, well, larry did point out and watch out for the fed if they overshoot but he said they're absolutely not going to get off that path. they don't want to make a second serious mistake.

todd what do you buy in the atmosphere and stand on a recession and whether people can position themselves ahead of that? >> we're in a pretty deep recession already. and 8.5 trillion under management and 85,000 in income and the average american overleveraged with credit card debt and high inflation and with the fed dead set on getting 10 year notes to 6%, what will that do to housing market and to the payments and what's that going to do to the rest of our economy? it does not bode well but if you're looking well, look for value and stocks that have been beaten down pretty hard and apple beaten down pretty hard and amazon has been beaten down pretty hard along with tesla like going on trial in san francisco instead of texas but those are all b stocks that i think will be around for the long term. remember, as an investor, you're banking on 8.5% year over year and not every year. there's still down room to go but when you invest, you must be willing to hold that investment without selling. liz: let me just say, tesla up

13% year to date and down 65% year over year. amazon, you like that one too, up 14% year to date but down 38% year over year and apple up 7.7% year to date and down 20%. at least people would not be buying them at highs; right, kenny. where do you stand? what do you think about the opportunities that you see right now? >> so, listen, i think there's opportunities in the precious metals to the metal and brief negotiated interviewing sector and talked about gold roaring, cop l roaring and silver roaring and the uses of silver in the economy. whether it's evs, whether it's the battery. there's going to be lots of demand for that so i'm very much into the metals and miners and precious metals and aerospace and defense and goldman sachs cut their rating on the group saying if they cut their defense budget, they're all going to suffer. i don't think they'll cut the budget so much. if they dorks but even so i think the fed will be right up front because there's a lot

going on whether russia and ukraine or the rest of europe and china and taiwan. i don't see a cut in defense spending at all so i like that group. in addition to certainly the apple and amazon i've been pounding the table on because bi agree with you and they're long-term core holding names. liz: i can't wait to see todd's eyes roll on this one and you too, kenny. price waters coopers came out with a ceo survey for davos. i don't know if you believe anything from the davos ordinary person what but ceo confidence and company prospect dropped the most since the global crisis, however, 60% of ceos surveyed don't plan the reduce the size of their work force in the next 12 months and 80% said they were not going to cut wages because they want to retain talent. do you believe that, bubba? >> you know, liz, this is like when the manager gets the good

handshake from the owner saying i'm not going to fire you, your job is safe. there's no way that they hold these jobs. we've seen what amazon has done and how many people they've laid off and a number of other companies and this will get -- i personally believe this will get really ugly before it gets better because we've created too many problems for arrests including the energy problem, which, listen, saudi arabia is on the low right now but what do you think when they tightsen the reigns and make it tougher again and this is a big problem coming forward. liz: yeah, kenny, you many that right on the oil trade last year but now goldman saying copper is the new oil so we shall see. great to see you both. kenny, todd, as always, we so appreciate you coming in on this monday. yes, we are live. we are here for everybody, for our viewers. the 2023 flight mare driving air travelers nuts and post-covid

travel demands and yet u.s. airline stocks are going par boll ick so far if -- para boll ick in january and some soaring 30% alone. what's going on at the nation's airports and what's the outlook for air carriers and travel stocks? that's next on the "claman countdown" with the points guy. and later, meme stock mania 2.0. what's behind the incredible trading revival in beaten down retail favorites. some of which are bumping up against bankruptcy. jamie the founder of the best wall street chat group that started the meme craze joins us live. back in a minute. glad you're hanging with the "claman countdown," don't go away. ♪

liz: we have this fox business

alert and hope of finding two missing passengers on a plane that crashed in nepal is fading at this hour. the airline flight went down with 68 passengers and four crew members on board and the aircraft mysteriously took a nose dive into a river gorge. service connected and have rescue operations today -- service connected and have rescue did uncover the flight's -- search and rescue did uncover the black box that could help determine the cause of the crash. nepal calling it the worst aviation disaster in its history but according to the flight safety foundations data base, there's been 42 plane crashes in nepal since 1946. here in the u.s. the faa launched an investigation into a near miss opportunistic friday at new york's jfk international airport. american airlines flight 106 crossed the wrong runway just as delta flight 1943 began increasing its speed for takeoff. air traffic controllers noticed the planes about to converge and ordered the delta pay lot to

abort -- pilot to aboard takeoff and safely came to a stop 1,000 feet from what could have been a disaster. 2023 from brutal winter storms and southwest's meltdown and faa system out age. here to tell us what the airlines need to do to boost their operations ahead of spring travel season is the points guy, founder brian kelly. brian, between the southwest nightmare, flightmare as we call it and what happened with the faa malfunction and it's been -- malfunction and a rough environment for air travel industry and air travelers, what's going on with aviation as you see it? >> things can go right. if we look at thanksgiving holiday, it was smooth. when everything is aligned, weather is good, the computer systems don't meltdown, travel can be relatively painless but there needs to be a bigger investment by both airlines and our government in infrastructure. you know, that near miss is likely pilot error but also due

to outdated air traffic control system that's often so manual so as a country, we need to invest a lot more. we're doing roads and bridges with the infrastructure plan but we must invest in aviation infrastructure. liz: airlines themselves need to invest more because the southwest situation as we understand it was caused not just by bad weather because all the airlines were dealing with that, but by the software that they use for staffing, which was basically reportedly off the shelf software, and we talked to ed b bastian, the ceo of delta airlines and he said the vulnerables are not just southwest. they all face these kinds of things, listen. >> obviously staffing, technology, planes, it's -- we have an awful lot of big moving analytical decisions that we have to take after -- take into account and optimize

particularly when you get into interrupted operations. it was unfortunate. none of us took any joy from seeing that. we all felt bad, 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. liz: which airline would you say is the best at investing back into their infrastructure and their technology? >> yeah, i mean delta definitely leads the pack in my opinion following closely by united, but it's still credit how many times the airlines make us call to make changes. when the meltdowns happen, they should be using ai. i actually give kudos to american airlines in their app, they have a chat feature which will allow you to change flights, it's a little won i can and needs a lot of work but in general the airlines need to invest in better systems so you don't have to wait nine hours and waste a day of your life to change a single flight, which happens all too often. liz: talk about air fares, where are they going in 2023?

they were outrageously high and i get it, a lot of people wanted to travel, there was a pilot shortage as we understand it there's no more shortage, at least ed bastian told us that . they've come down about 3% month over month but are people expected to pay as much as they were last year on trips? >> yeah. luckily it's petering off a bit but my biggest concern is china. china is opening up to the world and, you know, we think our lockdowns were bad, our lockdowns were nothing compared to what the chinese people have been experiencing over the last three years. they are ready to travel and with their boarders opening up, they're there are pretty much no chinese tourists in europe last summer and prices were through the roof. all the sudden we're going to see one of the biggest blocks of travel spenders all the sudden interest rate ecosystem and what i recommend is book travel now and there's been some great deals to europe and saw deals to

europe hawaii and once they travel again it's upward pressure and it's all about demand and airlines can't get enough planes in the sky to meet that demand. liz: okay, i need to go to the credit cards, which ones are the best? this is driving me crazy. use your points that you get from these credit cards because i specifically signed up for a capital one card for this purpose and got a lot of points and went to go use them and it was so not easy to use. is there one that's the best and easiest? >> yeah, with no annual fee, there's this built rewards mastercard. it's the only card that lets you earn points on rent so anyone that rents, it's an absolute no brainer and letses you transfer to american and united, two major u.s. partners, no other credit card has two of the big airlines, major airlines as partners. also hiatt. chase sapphire reserve is kind of the premo with top-tier

credit card. one thing i have to add when your flights are delayed or canceled, they don't owe you much compensation but a lot of credit cards will reimburse you up to $500 a ticket for the delays so when the airlines throw you for a loop, always go to your credit card to see if you can get compensation. liz: we have to run, what's the hottest travel destination for springtime? >> this spring the crick indian is back in play but mexico is still the hot spot. cabo is hot, i recommend i'm going to portugal in march and air fares, cheaper to go new york to portugal than miami and the u.s. dollar is really strong against most currencies but especially the euro so stretch your dollar further. liz: you didn't say cleveland. what happened? brian, it's great to seeout i'm a big cleveland booster so our viewers know that. good to see you, brian. thank you very much. >> thank you. liz: the next crisis for the

american economy: guys, it's 72 hours away. the government runs out of money on thursday and the new congress is already fighting and bickering about raising the debt ceiling. what we're going to do is take you straight to the white house live for an up to the minute update on the looming crisis. we'll be back in a moment, don't go away.

liz: janet yellen warning the u.s. will hit the debt ceiling in three days and warning to increase or suspended ands spend before it goes in default. a reminder from the past of what can happen to stocks specifically when congress digs in the debt ceiling heels, 2011 when republicans demanded the government cut spending before they'd approve raising the debt ceiling between july and september of 2011. look what the s&p did, it dropped 15% over just those couple of months. what should investors brace for this time around? to edward lawrence live at the white house. edward, does it look like lawmaker can cut a deal by thursday? that seems awfully close. reporter: no, that's not going to happen but the treasury secretary will institute extraordinary measures to make sure the u.s. has enough money

to not reach the debt ceiling till about mid june and basically the treasury department will not put in money to various health and benefit funds so the treasury department on thursday will suspend new investments into the civil service retirement and disability fund and the postal service retiree health and benefits fund. the treasury department follows that by suspending investment in the government securities investment fund for federal worker retirement plans. president biden saying today that he will work this out with congress, but his spokesperson says not on the debt ceiling, listen. >> i'm ready to work with the new republican house on any republican or any republican congress to make progress for the people of america. >> we will not be doing any negotiation over the debt ceiling. reporter: the white house wants congress to try and work it out amongst the members and you eluded to this last time we came into this and markets could react adversely as they think possibly if we get close to the running out of money or meeting

the debt ceiling in mid june, we could see reaction from the market and now economist steve moore said there'll be a showdown this summer. liz: do we not have that? reporter: so steve moore was basically saying that republicans are basically saying that what needs to happen is they need to cut spending. democrats are basically saying no, just raise the debt ceiling because of the spending we already did. they're at an impasse about as wide as the grand canyon right now so they've got to try and get together and work out some kind of deal. we'll have to wait and see what happens. liz: it's like ground hog day. this just keeps happening. thank you very much. edward lawrence, we need to get you ready for some of the top stories that could move some stocks tomorrow with the open. wells fargo naming top chips stocks for 2023 in a note to clients the firm said while there's caution around the entire semi-industry, it is bullish on advanced

micro-devices. wells expected amd to gain cpu, controlled processing unit market sure through the year and by the way, wells analysts, for those of you waiting for nvidia to rear its head, they're also bullish on nvidia mainly due today data products psychoand will the stock is up 15% year to date. netflix, the holiday hit wednesday keeps on winning according to nielsen's most recent streaming ratings. the adams family tie in has been streamed 16.8 billion minutes over just four weeks. the second highest total over that span for streaming program. highest total belongs to netflix hit stranger things. the streamer reports earnings thursday. it'll be a huge day and is up 13% year to date. madison square garden entertainment is expecting to complete the spinoff of live entertainment businesses in march and proposed transaction aims to separate traditional live entertainment, collection

of performance venues, entertainment and sports bookings and the christmas spectacular production from msg's sphere. msg networks and tao group hospitality and the tax-free spinoff gives shareholders of msg entertainment a 67% economic interest in the new company. for those that don't know, msg sphere is the gigantic black sphere they're building in vegas. need a lot more money to get it completed and so everybody's watching that one. roaders reporting the europeanon union prepares to send microsoft and antitrust warnings over the plan of $69 billion activision and has a april 11 deadline to finish its review of the deal. the potential eu warning comes after the ftc last month sued to block the acquisition saying it would suppress competition and activision blizzard closed at $76 and change and buyout price is $79.

we'll see if it can season that $3 or less than $3 over the next couple of weeks. the retail trading revolution coming full circle as meme stocks, have you seen this, suddenly back in fashion. jamie rogozinski, the founder of the wall street bets reddit chat room where it all began is here to tell us why the reddit rebels now think meme stock mania is a again a winning trade. even if the word bankrupt is flirting around with some of these names. the "claman countdown" is coming right back, don't go away. ♪

liz: the sleeping apes have awoken. since the new year, meme stock mania has aaron rodgers and roa. we're only halfway through the month and we're seeing meme stocks like carvana, spiking

48%. game stop up 11%, amc climbing 24% but they're not the only ones. look at clover up 33%. now, mind you this is $1.24 stock for clover. blackberry added 16%. investors are even taking on major risk with bed bath and beyond. it's up 45% despite the fact people familiar with the matter say the embattled home goods retail chain is prepared to file $chapter 11 bankruptcy. that movement is the meme stock crazes in 2020 and 2021 which put the reddit thread wall street bets on the map. wall street bets was founded by jamie rogozinski. he joins me now in a fox business exclusive, and it really did give rise to the powered of the retail trader, and they appear to be waking up or certainly alive. what do you make of these latest moves this month?

>> it is and i'm glad you mention hertz because a lot of people forget about that. the similarity between hertz and bed bath and beyond is hertz declared bankruptcy during the pandemic and essentially their stocks were double and then the difference then is hertz didn't really know what to do with this and they didn't know if they could issue more shares or sell down some shares knowing it would be in charter territory but amc paved the path for being able to do that so who knows. maybe bed bath and beyond can use the inflated stock price for additional capital and maybe stave off their bankruptcy filing. liz: you just said the b word and who knew that was a flashing green light for retail investors and carvana, party city, bed bath and beyond and all have the rumors swirling around them about bankruptcy, if they're not in the process of filing already and i think party city is getting close. look at the stock performances recently. we show that carvana has done a moon shot, same with the rest of them. again, you have to look to the far right because this is a one

year picture but look over the past week, all of them seem to be the chat groups and the apes. is this dangerous or smart or the way of the world? >> i mean, if you really want to take the most fundamental advice for investing, you're supposed to buy low and sell high. well, when it's $1 or $2, it's close to 0 and doesn't get much looterrer than that so i think -- lower than that and risk-hungry individuals and it's worth a shot. it's only a buck or two bucks or whatever it might be. when it goes to $4, it's doubled in price even though the share price is nothing impressive. who knows, maybe they're actually being quite wise with it. liz: there's interest when it comes to bed bath and beyond about their buy buy babe part of -- buy buy baby part of the chain. if that comes to fruition because they're in talks with the private equity firm sycamore, what would that mean for bed bath and beyond stock if

sycamore buys buy buy baby? >> i mean, that's a fundamental question; right. you're talking about breaking out what their asset sheet looks like and what different parts come around. the stock price itself has been proven to be independent to some extent at least in the short term with regards to fundamentals so who knows what happens in the short term. you have supply and demand and a lot of people excited, sometimes you see these retail investors wants to be activist investors and rescue the companies and if what you need is capital, just making the shares go up is all that they need in order to survive it. liz: yeah, again, it's a trade. it's -- might not be a long-term holding but the retail apes as they like to call themselves, they're very confident of what they dorks they appear to be in sync in certain cases, and i do find it really fascinating that what you started so long ago in the wall street bets chat room has really turned into something that has gotten the attention of the sec for better or for worse.

do you think that this only might attract more negative attention in >> so many people are afraid of the sec and objectively they're good. they want to regulate things and wall street bets, the trading investors. liz: not all regulation is good. >> well, i mean protecting -- stocks go up and down and even warren buffet takes a loss and investors know they're doing risky things but the system as a whole is fragile; right, so if the retail traders are systemically shaking things to see which foundations need to be improved, i'm hoping that the seccosms in. look -- sec comes in. when they have hearings for the game stop, congressional investigations, the hearing, i was expecting them to completely

villainize the investors and why did the brokers decide to do stress tests to make sure they ask withstand this type of volume? at the end of the day, they're celebrating the systemic flaws they're finding and trying to make the whole system fair. liz: if you look back because you go back to 2022 and i'm talking about -- or 2021 in january when some of these went to the moon as they like to say. i'm thinking of amc and game stop particularly, that was quite incredible, and so the short squeeze point of this where all of these retail traders, the so called little guys, banded together to really bring down some of the big wall street short sellers out of that trade, scare them out of the trade because short sellers are like that one's going down and going bankrupt and the reddit group was quite amazing to me and i was quite impressed by it and it was quite historic. they all banded together and

reversed it. so do you worry now that there are differences? number one, there was a lockdown, people were trading all the time, they could sit there. they had some money in their pocket from the stimulus. both of those things are no longer in play, plus we have inflation. how does that all play? ? >> i mean, look, if there's differences, they're good differences. what happened in 2021, i didn't anticipate, i don't think anybody anticipated the magnitude with which it happened and it was a perfect storm. the market as a whole was wise and try to set up defensively around trying to prevent it again and all the players and partis pants and big investment they all want to profit in whatever way possible. the market does what a market does and got wise. with regards to oh, look, no more stimulus and have jobs again or whatever it might be, oftentimes people confuse the reddit -- sorry the retail traders with this is a conglomerate or this is a big group of people that mock together around a stock and make price go up or do a short

squeeze. it's a misconception. what they actually do is they ban together and find inefficiencies in the market that they can benefit from and exploit to their own benefit. this is edge. they've done it time and time again with the short squeeze, that was a big one but done it with infinite money, cheat code or gama squeezes and numerous different opportunities they can capitalize on as long as it's legal, and they can push forward and try to have some fun with it in the process. liz: okay. jamie, you started it all so long ago. good to see you and happy new year. >> like wise, take care. liz: jamie rogozinski, is the energy market ready for a 2023 oil boom after an incredible 2022? we have a live report in today's $391 billion countdown closer thinks one particular slice of the oil and gas energy market is about to gush. she's going to name it, that's next on the claman countdown. we are coming right back. so glad you're with us on this

monday. ♪

♪

it's official, america. xfinity mobile is the fastest mobile service. and gives you unmatched savings with the best price for two lines of unlimited. only $30 a line per month. that means you could save hundreds a year over t-mobile, at&t and verizon. the fastest mobile service and major savings? can't argue with the facts. no wonder xfinity mobile is one of the fastest growing mobile services, now with over 5 million customers and counting. get in on the savings and switch today. i screwed up. mhm. i got us t-mobile home internet. now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work.

we're workin' it too. yeah! work it girl! woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck. global benchmark for oil, it did trade today. it settled at 84.21 cents a barrel, down a quart i of a

percent. new report from goldman sachs that price could get much higher this year, higher, ending seven month downturn. global commodities research by third quarter brent will reach 110 bucks only in china and asian economies fully reopen from covid-19 restrictions. what does that mean for the u.s. and refined products that come from it? jeff flock at a jet fuel tank farm outside of philadelphia international airport. jeff? >> reporter: probably not the greatest of news, liz. this is the pbf tank farm near the philadelphia airport. you're right the government backed off how much oil production will increase in the u.s. they thought a million more barrels a day. now 600,000 more a day. still look at the numbers. we're on target to pump more oil this year than we ever have in history, 12.4 million barrels. and even more next year, both of

those would outstrip the previous record set during the trump administration of 12.3 million barrels a day. what does that mean for prices? well, according to the experts, somewhere between 75 and $92 a barrel on average. citibank is the low liar, goldman on the high-end. speaking of forecasts, when it comes to gas prices, 3.51 is the average for 2023, the projection at least according to the government. that is about half dollar cheaper than it was last year. but, we're now at about 3:30. that is about the same as it was one year ago, $3.30 average gallon of regular. bad news to stuff like heating oil, yeah if you look at that in pennsylvania, this is not an outlie year, other states similar, up 36% a year ago. jet fuel they sell here at the phadphia airport, up 42% over the course of this past

year. oil, i guess we have some. the only problem it is going to cost us. liz? liz: jeff, thank you very much. jeff flock. all right, so our "countdown" closer this dovetails very nicely says, one particular subsector of the oil industry has a really good chance of benefiting from ongoing price increases. lisa ericsson has $391 billion in assets under management. she is the senior vice president, head of the public markets group at u.s. bank wealth management. she joins us now. lisa, i'm excited, you got me. which is the sub sector in. >> we're very interested in the midstream energy sector, particularly as package of a global infrastructure investment. really the reason why, you heard part of this story just a minute ago from jeff, is that, we obviously have ongoing demand from for energy and we need that midstream sector to continue to transport that energy across the nation. and what is really nice about the midstream sector is it not

only takes advantage of the demand that we see for the ongoing energy use but really does so more in defensive way than outright invests in energy itself. and the reason why, it is just that continuous stream for the need for transport. so it is really a lower beta way to play the energy demand story. liz: let's clarify for people, when you say upstream, that is the extraction, that is the digging, of the searching for it, the hunting but the midstream as you say transportation of it, the storage of it, of course downstream is the refining, et cetera. you know, we have a bunch of etfs we're cycling through. look the jpmorgan alarianmlp looks good. ft north america energy, fd. as you look towards this, what types of companies that are in

there? and how do you foresee that changing if china fully reopens and how soon? >> we really are advocating, liz, a broader exposure to the midstream sector. we just see the area in general as attractive. that really actually as part of a broader what we would call global infrastructure story. and if you look at that global infrastructure asset class it would include not only midstream but also other industries like utilities, like transports and like communications. which to your point are really benefiting from continued need to maintain these critical supplies throughout the u.s., and, similar to the midstream story that we were just talking about, really can benefit from some of the ongoing price increases that we're seeing on inflationary front because many of these sectors, just like midstream continue to be able to have some of these price increases put into their contracts over time. so they can more quickly take advantage of that, perhaps other

industries. liz: lisa, are you, because there is so much discussion we wereve in washington, d.c., where 72 hours away from maybe hitting the debt ceiling. you have a lot of ceos predicting recession, are you recommending any kind of tweaks to a portfolio ahead of this kind of potential that could spark real volatility? >> right now we are more cautious on markets in general. that again is one of the reasons why we're very interested in this global infrastructure area, including midstream. so not only is it able to take advantage of some demand we're seeing for these infrastructure segments, but in addition to that, most of these industries also have very high dividend payments or cash flows. so when you're getting more of that ongoing income back into your portfolio, on an ongoing basis that is a very nice buffer against some of the potential price volatility in the pricing of the underlying assets.

liz: lisa ericsson, thank you so much. good to have you on the show. happy new year. >> happy new year. liz: well, yeah, i don't know how happy it will get because we are just over two weeks away from the first federal reserve meeting of the year. tomorrow richmond federal reserve president tom barkin joins us live to discuss what policymakers are pondering on interest rates. famed wall street tech investor dan niles. ♪. larry: hello, folks, well-come to "kudlow." i'm larry kudlow. it is always an intlex allly sizzling moment when joe biden goes out there starts speaking about the economy and his economic policies. today he spoke at a martin luther king event sponsored by that well-known, even-handed centrist, the reverend al sharpton. virtually everyone cherishes martin luther king's phrase, that i have a dream my four little children will one