years, so wedded to their theories when the market moves against them, the proverbial fraud in boiling water, they are so stubborn. they will say things like the market has it wrong. don't care what you think of the market, ultimately it's the final arbiter of whether you are right or wrong and the cycle comes back. we are supposed to have the smartest people on wall street come on this show and i focus on people who do research and have real track records. when we bring them on, they do make the adjustments. so be careful of the zealots. you have more common sense than they do. liz: yes very. did you see this, bed, bath and beyond, resumed trading. it is down 18% after having been halted 9 and a half minutes ago.

the stock is in freefall, retailer has disclosed in an sec filing it does not have sufficient resources to repay amounts under credit facilities and this will leave the company to consider strategic alternatives including restructuring its debt under us bankruptcy code. you can see earlier it was up and when stock was halted it continues to fall. stand at $2.60 one cents. this is a meme stock where a lot of people are thinking it was going back up, very volatile. this is the one year picture. we are looking at meme stocks trending down slightly. now there's a relationship with bed, bath, and beyond, but we are keeping an eye on all of the action. let's get to the markets, the breaking news is we see green on the screen continuing to

pump up, dow jones and social girls are up, the nasdaq, big percentage winner up 1.3% and the russell 2,000 is up 3 points. president biden speaking in springfield, virginia, addressing economic progress under his administration, making remarks while visiting steamfitters union members, comments come as fourth-quarter gdp shows the us economy coming in, growth of 2. 9% beating expectations of 2.6% but slowing from the previous quarter's 2. 3%. one of the accomplishments is the passage of the chips act, this is the bill providing the us semiconductor industry with $50 billion funding to build microchip fabrication plant said stateside, reducing dependency on china. until unchanged, it's a beneficiary of the bill, the chipmaker which made

$20 billion investment to create semiconductor foundries just outside columbus, ohio with reports after the bell, 58 minutes before the bell rings, other and% year-to-date, stock has struggled, down 42% in the last year. we are waiting visa's reports, it is often seen as proxy for consumer spending. revenue for the december quarter outpacing the 7. $06 billion from a year ago. let's call it flat to lower. as the final hour gets underway, dow jones industrials in the red, kind of a game of red light green light, seesawing after eking out a 9 deck again yesterday. too close to call, just about, 9 points higher, s&p is moving following stronger-than-expected fourth-quarter gdp report we told you about. we are going to dig deeper into

that report and the nasdaq. boosted very much by tesla which is soaring 9.6% after delivering record earnings, profit jumped 59% even as tesla was stymied by china lockdowns. sales crushed it, up 37% year over year. gross margins fell to the lowest levels in the past 5/4 but recent price cuts are driving massive demand, issuing a very, and 2 million cars, as tesla pumps up the nasdaq and the s&p, dragging on the dow, shaving off of the blue chip index. ibm joins the downsizing trend

saying it will cut 3900 jobs but will continue hiring for its consultant business, dow cutting 2,000 job seeking to cut costs by $1 billion in 2023. the german software giant illuminating 3000 and exploring sale of its stake down 2%. where's the help wanted sign, chipotle, mexican eatery announcing plans to hire 15,000 workers across north america. stock is up 3% because there must be demand, chipotle mexican grill stands for single share of $1612 but we have mixed signals of hiring and layoffs. that put investors on edge. waiting for what could be a recession. we've got a great mix here. for teddy weisberg, trader and

economist john lansky. i'm turning to you because we've got the gdp number that was better-than-expected, slow down for the third quarter. how do you look at american airlines where the ceo said demand is great, numbers are very good, squaring the concern about recession which you say we are going to see. >> american airlines, consumer services doing very well. growing by 3% in the fourth quarter. consumer durables barely growing if at all. durables up one%. i want to make a point that is important, 2.9% headline number, real gdp looks very good. when you take up the special extraordinary lift, that gdp got from a jump in inventories which is disinflationary and

narrowing of the trade deficit, real gdp growth was down to 1%, 0. 8%. i don't think that is a strong report, when you strip away their special factors real gdp looks limp. liz: the headline number may look good but john says it's not as pretty as it should be. as they ride out these recession fears. >> it's difficult because we are in a choppy market. we are returning to whatever normal is. 0 interest rate is not normal, that's a big aberration so don't know where interest rates are going. we know where they are going. the markets are basically turning all the time. i don't think it is a negative scenario but not a positive scenario.

liz: the s&p is kind of where we were inmate. it feels very shaky and dramatic but we are where we were inmate. >> walking in the soft sand. the problem is it is tough to put three, four, five days back to back, just not enough out there to give the market the upward momentum we want. as we go through this, this could take weeks if not years. liz: make me money. >> purchase energy stocks. insurance, because i can't think of a better sector to benefit from higher interest rates. they have huge reserves, they are putting it to work at higher interest rates and really benefit from the environment we are in. liz: i am going to push you a little bit on whether we are really going into a recession.

i asked that, back to tesla, last night, i listened closely to what elon musk was saying, he said, i call this that has lower indicator, tesla did cut prices. okay, but the demand suddenly sprung so strongly that they may have to tweak and raise prices again slightly. specifically, here is why he said that. >> the most common question is about demand. i want to put that to rest. thus far in january we see the strongest orders year to date than ever before. or is that -- almost twice the rate of production. liz: could we be barreling toward a recession when people are barreling to get the

cheapest $40,000 apiece? >> the first quarter of this year, that is my view. let's not forget this jump in orders or sales that tesla is enjoying may be at the cost of fewer sales of evs and ford and general motors. don't know how this is playing out in terms of a shift in consumer demand towards what is perceived as a high quality, lower price vehicle. liz: let's say john is a believer that we will see a recession this year at some point. you have said that you like the 2 year, 6 months, lathering in. explain to our viewers, they could be buying every monday of the treasury option. you are not -- the treasuries in their.

>> why not simply purchase the treasuries, 3 months, 6 months, you can pick your poison, all kinds of choices. we would spread it out. and vote three month treasury, now pays 4.67%, basically riskless. it's a no-brainer. why take on risk if you don't have to? the time will come when we can shift gears but we are not there yet. the short-term treasuries a great place to hide and a great place for savers to go. liz: don't pay the fees. it is great to have you. >> teddy is right. i see them going higher, it peaks in the first quarter. by the end of the year, it is coming down and with that treasury bond yield. liz: they are not going to cut.

>> when you see the economy slow down and the consumer caves in, very low personal savings rate, they exhausted what they have left from stimulus. the fed has no point. the fed's long-term forecast for the federal funds rate is not 5% or 4% or 3%. long-term forecast is 2. 5%. that's good news for those insurance companies. ashley: thank you. you have to rewatch so many of those soundbites of jay powell saying we are not cutting rates this year. what holds up best in a recession? you have heard about the lipstick affect, but what about the eyebrow index? and eyebrow empire through multiple economic recessions, but is the industry and beauty stocks really recession proof? we have the eyebrow queen and

studio, what she is seeing in her stores around the world. she's a huge seller in mexico, europe, china, and here in the us, joining us and studio in a minute, closing bell 40 minutes away, the dow climbing by one hundred 49 points. i'm keep an eye on bed, bath, and beyond. it is 29%.

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liz: let us look at shares of lb mh, down one. 3% at the moment. this is a one year picture, you can see it has done well after a rocky patch in the of the year, despite the company reporting a record year,

released fourth-quarter earnings a few miles ago when the paris stock market closed, the company says all its business groups saw significant revenue growth with fashionable leather goods revenue up 20%. it raised its annual dividend by 20%. from belvedere, more than 2,700 stores stores in 35 countries worldwide, one of the biggest brands is anastasia beverly hills which distributes 525 locations in the us alone. she is in 5000 locations across the world including 90 stores where she has 90 locations embedded in the stores. anastasia joins me now. you've heard about the lipstick indicator. that is the belief that because

the price point of lipstick is low enough, these stocks in these companies are recession proof. what are you seeing around nordstrom? >> everybody has the moment i want to make myself feel good so lip-synch, blush, eyebrow is going to make a difference, makes me feel better and we've seen that grow. what you just talked about is the leader of the beauty industry as well and beauty is here to stay and is always going to be. liz: is it shaken just a bit? there is some research, they say it does appear in the past you look at the lipstick indicator and saw it always holds up. zacks is saying cosmetics and

toiletries markets the last 25 years slot prices declining more than the s&p, specifically stocks of these companies. do you see that? john lots key said it is going to be a shallow recession. >> i personally don't think we, during covid we had some problems, everyone had problems with the supply-chain, difficult to replenish your inventory and i think another challenge we all had, including retailers, where the people that work there like warehousing, to ship the products to the stores and receive, that was a challenge. liz: you must have been on the phone constantly to figure out why this got to the shore in mexico city, you're big in china, how big are you in china? >> we launched before covid and

the lockdown kept us from exploding. number 2 in brown, beauty and makeup. and we had limited ass k you and very proud of that. once we establish and go to normal life i think we will be very well. liz:. when in beverly hills, nordstrom, fifth avenue. the price point, this is a service, under $40. how focused are you on keeping the price point even as wages? >> we need to go up a little bit because wages, you have to have gloves, you have to have individual disposable product to do the service. obviously the cost of keeping of the surface alive is higher

so probably, slowly, we will try to be considerate to our customers but have to go up with the price. liz: i want viewers to understand you are celebrating the 25th anniversary of your studio. you came here as a romanian immigrant, you didn't speak the language. and now, tpg, the private equity outfit took steak in your company and it was valued at $3 billion. what is your message to people about starting businesses? there's an mit study that shows immigrants are 80% more likely to start businesses once they get to the united states. how many jobs? >> i created many jobs. we have more people, but what was important for me when i came here, wanted to provide so many opportunities, if i live

in this country i will not see it but coming from a communist country i saw so many opportunities and wanted to prove, you had to prove i am going to work hard and i am determined to make a difference. liz: in a capitalist society it enables you to become. >> i have clients including yourself that supported me. that validated my work. i consider myself superlucky because society helps you. if you want to work hard, do something, i think america is the best partner. liz: anastasia did my browsing. >> you have gorgeous ideas. liz: happy 20 fifth anniversary, starting with one share in another business and now you are global.

>> products, services, looking forward to the next 25 years. i want to mentor other people. i want to share my story with them, may be they will do less. liz: one mistake you did not make was staying in a socialist country. all right, a puny crop means a big pop in the price of a breakfast stakeholder. we will take you to the florida orange grove to tell you how farmers are fighting mother nature's worst obstacles in a century. take a look at the dow jones industrials climbing one hundred 48 points, s&p up 43, nasdaq charging higher by one hundred 59 points. we are coming back with so much more in the ceo of xerox gearing up to come on the show in a few minutes. three generations, who all bank differently with chase. leon's saving up for his first set of wheels...

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if you know how to send a text, you know how to use roll. go to getroll.com/tv and get your first three months free and unlimited payroll. liz: we have a fox business alert. bed, bath, and beyond has resumed trading after warning once again of a potential bankruptcy. this time it is in a filing, retailer says it does not have enough money to pay off its debts. it receives a default notice from jpmorgan. i want to give you a little more clarity on that. jpmorgan determined it can

exercise rights such as the all outstanding loans and credit facilities and other obligations of bed, bath, and beyond, payable immediately. the stock is falling further. you see the injured day picture. it is down 221/4%. investors are all abuzz about bo's feed. the stock is parabolic, up 131% for a couple reasons. wall street journal reporting digital media firm tapping chat, open ai, to create its popular quizes and person analyze content for its audiences. it has been an ugly time for this company, stock has been slammed down 74% the past year. the journal is reporting meta platforms is going to pay bo's feed millions of dollars to bring more creators to facebook and instagram.

meta is reinstating donald trump's account on social media platforms after two years of suspensions following the january 6, 2021, attack on capitol hill. meta says it is bringing back the former president but, quote, knew guardrails to deter repeat offenses. checking the company tied to the truth social media efforts, up half of 1%. it has also fallen precipitously over the last year. meta is gaining 3.5%. las vegas sands hitting a 52-week high after it reported an increase in fourth-quarter revenue and gave a bullish outlook to china's reopening. wall street put all its chips on lvs with jpmorgan saying the singapore gambling markets reaping the benefits, easing travel restrictions. lvs up 5.1.3%.

sherwin-williams, the stock on place for its largest percentage decrease since 2020. it has fallen 9%. the paint manufacturer expect sales and profits to decline in 2,023 as the construction market could get very tough in the back half of the year. tractor supply company topping estimates with fourth-quarter earnings report, the seller of farm products reported sales growth rising 8.6% due to demand for every day needs bates merchandise. farm equal it appears to be selling like a hot cake if that is meaningful, i never knew hotcakes sold well, orange farmers in florida are struggling with a historically tiny crop. the sunshine state expects to produce 18 million boxes of oranges this year, less than half of last year's crop, 93%

decline if you compare it to 1998's peak output. orange juice futures up 32%, the price of a gallon of oj at retail rising to some $6 a gallon. ashley webster live ash and orange grove in florida with all the details. ashley: this is a typical florida scene, beautiful blue skies, the sun shining on these gore interests oranges but pictures are deceiving. production is down. nearly asked on 90 year low when it comes to production. we had a big freeze, we had hurricane en and hurricane nicole, dedicated to orange groves, shrinking by the way and we have the dreadful greening disease that sapped the life out of the industry. put that to gather, who would want to be an orange grower,

glenn beck with back brothers citrus, given all of those hurdles, this is a long time generational business. have you ever seen it as tough as it is now? >> never before has there been a chain of events that wreaked this much havoc. we are at a crossroads industrywide. at the present time, many growers particularly south of here are not, obstacles have been too much to overcome. we are hoping for a rebound in the industry. ashley: forever optimistic. because of the shortage of these oranges, orange juice, prices gone through the roof, do you expect prices to come down? >> no time soon. in the eventuality florida may increase production again it will take some time before it enters the marketplace.

right now avoid is being filled with foreign producers of which we have no control. ashley: you are fourth generation, joe children coming up, do they want to take on this risk? >> for some reason they are. hopefully we can pass on. ashley: thank you very much. at one .90% of all domestic orange juice came from florida but that is going down to 50% by some estimates. where are we getting our juice? increasingly from mexico and brazil which is another sad sign of the state of affairs for orange growers in florida. liz: hard to wrap your head around what to do. we talked about today's gdp report. did you see the breakout of the business investment numbers? a flashing yellow light that businesses are in the grip of recession worry. one company with its finger on the pulse of business

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liz: we have 20 minutes, well off of the lows of the session dropping 2.5%. the company said on fourth-quarter earnings call it expects 2023 revenue to come down in constant currency and average currency metrics. the software provider delivered better than expected earnings in 2022 driven by robust demand

and using supply-chain constraints. its new ceo is looking forward with plans to grow the company, those products, every business in the us. a fox business exclusive, stephen is here in his first broadcast appearance as ceo. we are thrilled you chose the claiman countdown. let's look ahead, why do you think revenue is flat to slightly lower? >> a couple things. we see the same in macro conditions everyone is seeing, we are driving two things, focusing on customer success. we had one of the biggest revenue sales with everything our employees, very proud that we had the largest you quit sale placement of revenue since going back to 2019. why is that important?

it's the center of how we build products and services. we can bring software, we can bring technology like artificial intelligence, robotics, language translations, inside of education, think about teachers need to do more, administrations need to do more. we drive productivity with our solutions. we've got the distributed workforce where people are working remotely. how do you think about document flow and workflow around documents and how do you keep documents sick your? how do you put them into workflow to drive productivity? we are focusing on more value ads, customer success and how to drive customer outcomes using the latest technology whether it is artificial intelligence or virtual reality or machine learning. we want to help customers to

drive their success using our products and services. liz: the key buzzword is a i. how are you incorporating artificial intelligence into what you do? >> let's talk about internal, a workforce service that services product and my service delivery team has four major challenges. number one, we have inflation and costs, whether it is fuel or maintenance costs or inflation, we have this knowledge gap between when people retire and bring on first time employees in the field. we have an esg initiative we are trying to lower our carbon output, using artificial intelligence with virtual reality. let me give you an example. you call today in one of my call centers, specifically in canada or st. john's, we know what is happening with your particular

device. we use artificial intelligence to see what that device was against all the devices we have around the world, all our r and the notes, take the best way to solve that problem based on what happened with equipment, in the service team and use augmented reality to help the customer to solve some of the problems. liz: i always liked pressing every button. >> we can help you. think about cable, how do we help you with that. artificial intelligence with augmented virtual reality will change the way we think about servicing equipment in the future. liz: you said increased demand, robust demand driving fourth-quarter sales. is that demand at the same level higher in the current

quarter and where do you see the hottest interest in your products? >> every customer especially in our midsize customers, a challenge with increased costs, they have to think about all the head winds from an enterprise standpoint but they don't have the resources a large enterprise like xerox has. we are bringing enterprise class solutions to the mid market and trying to help them with their productivity. in terms of documents and so forth. we can use robotics as a service with artificial intelligence, we can help with things like document discovery, work flow. we are bringing productivity and services that are helping our customer to be successful.

using great technologies and engineers that xerox has been known for in terms of innovation and helping the customer innovate what they are doing. accounts payable solution where we can help clients to increase their cash flow to help with accounts payable's processes. these are examples and that is why we are excited about how we help and solve customer challenges through xerox innovation. liz: don't give out your telephone number because everybody with a xerox machine, he just explained it really well. great to have you, wishing the best of luck in your tour as ceo, thank you for coming on. >> look forward to coming on again. liz: we want to follow the story. florida governor ron desantis according big wall street donors, charlie gasparino is about to break that story. what does the signal for 2,024 presidential run?

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♪. liz: we're looking at session high for the s&p 500, up about 38 points. florida governor ron desantis is reaping out to friends in high places on wall street as he starts to seriously contemplate a run for president in 2024. charlies breaking thisser to. >> what does trump call him? desanctimonious? liz: i don't pay attention -- >> his name is a ron desantis. he is popular governor of florida. he may run for president. how do you know he is running for president? he is reaching out to several wall street executives. several sources from the c suite. this is the gameplan from desantis. you call up a top executive a bank, invite him, private meetings with the governor to hear policy, put your name on a list to raise money. here is what people are saying and these are people he is likely to raise money to.

by the way wall street is not only place where republicans get money or candidates get money. >> is big money. >> it is big money. they're saying he is holding private meetings. he is keeping his cards close to the vest when pressed are you going to run? this is the best you can say, but not 100% sure but he laying the groundwork to run. what is the fly in the point -- point man. donald trump. if he loses primary to desantis, thwart to keep people home. he done that to other people out of spite that could hurt him in the general election. this is when desantis is weighing right now and i can tell you liz, if you talk to wall street executives meeting with him, if donald trump was not in the race he would be declared right now. that is what they're saying. >> makes sense. >> the money is there. he is a fund-raising machine.

liz: some polls, not all but some polls he rates high. charlie you have an important update yesterday you talked about the nyse glitch. >> we should talk about that. listen there are stories esoteric, involve high finance, this glitch cost investors pricing because they were given wrong prices on trade. particularly through a online broker. you don't actively trade through your broker. you do it online, td a mayor strayed, charles schwab. what we understand two things. schwab is on the warpath against the nyse putting out a release yesterday right after our report where they essentially said, listen this shows you how callous the new york stock exchange is, how lack of transparency. one other thing, it's a representative of what other brokers are saying, the new york stock exchange should not be in charge of the retail auctions that gary gensler wants to

replacement payment for order flow is. what gary gensler wants to do, all retail order flows get auctioned by new york stock exchange, nasdaq. no more market makers like srrtu an sit is a dale. you go with that routed, new york stock exchange has issues with the auction process that auction process in this case cost a lot of money. they don't have the software to pull this off. so you're seeing essentially the glitch being used to thwart gary gensler's plan for redo of the entire stock market structure. so again, we are going to debate this for a while. it's a brewing story. we don't have exact numbers on how much money was actually lost by these brokers and their clients. you know, numbers i keep hearing are tens of millions of dollars. it is a big undercovered story i think. i don't understand why more people are not covering this.

liz: they don't want to lose friends. i mean other business networkers coned on is ensconced. >> that is frightening. >> do you want your brows waxed? she is in the green room. >> do i need it? here is the thing, i don't take makeup, i don't dye my hair. i don't do botox. know what that means? know what that means, i'm only, not going there. liz: what you see is what you get. we're moments away from intel's fourth quarter report, the chip maker is expected to -- >> [laughter] liz: announce profits of. >> can't stop laughing at me. liz: 20-cent per share and $14.45 billion in revenue. intel is up 13% so far this year, a lot of tech stocks are, our "countdown" closer says he is redirecting his clients to a different chip company. jim wharton, cio of wealth consulting group.

jim, give us the name? >> i like nvidia right now. nvidia had a rough last year but things are looking great. i think with a.i. and all the emphasis that is going into a.i., what we may have a a.i. revolution and all of that goes into cloud computing, all of these things support nvidia. liz: nvidia is a company that makes the graphics chips. so they, as you say are really spread across many different industries including video gaming, correct? >> correct. videogameing, health care, aerospace, they're in a lot of areas where people need to see a lot faster processing of power. so they're great place to be right now i think. >> jim, you would have to take a leap of faith, look at the entire sector. we know that the soxx index, as i look at it right now which of course is the basket of all the semiconductors here, it is still down. it has been down, yeah, about

13.7% over the past year. people have been waiting for these names to, just reinvigorate and certainly for the stockholders, they have been waiting. it has been a long, long time. do you believe that the worst is in the rear view mirror? >> yeah. i think, i think it is. so we look at a number of different things. so broadly speaking, there is a lot more breadth going on in the market that looks fantastic from a technical standpoint. we're holding above kind of that downward trend line but when we look at sector rotation, what is getting momentum, what is not getting momentum, technology is getting more momentum. communications services is getting more momentum. when we look in the rear view mirror it looks bad, just looking at the last month, things have looked like we bottomed and we're turning to move higher. liz: got about 30 seconds. the fed meeting and decision is

on wednesday of next week. what do you think the fed needs to do to keep companies like the semis muscular at this point? >> yeah. so there has been a lot of, a lot of layoffs announced in technology and i hope that they're going to be looking really, really hard at you know, some of these inflation numbers that are coming down a lot. so there is two paths that we can go. there is the hard landing. there is the soft. we like for it to be soft landing. [closing bell rings] liz: it is wonderful to have you. we finish out jim, with session highs. the dow looks to close up more than 200 points. the s&p up 44, the nasdaq up 200. we're going to see you tomorrow. "kudlow" is next. ♪. larry: hello, folks, welcome to "kudlow." i'm larry kudlow. so, let's begin. save america, stop the spending. hous