>> the white house says president biden ordered the military to shoot down an object of the cost of the last point today. it post reasonable threat to civilian flights, tracking the objects and last night. and off of south carolina, that was on saturday. you are looking at john kirby giving the announcements. the market had no reaction to this breaking news. the nasdaq is down 93. this claman, over to you. liz: we are seeing reaction in defense stocks after as you pointed out, the white house confirming the pentagon has

taken down an unidentified object, shot it down. it was over us airspace in alaska. national security council spokesperson john kirby said president biden ordered the military to take down said object because it was flying 40,000 feet, pilots are going to know how important that is, 40,000 feet, because it poses a reasonable threat to commercial flights. the unknown object shot down into us waters is allegedly the size of a small car, no details confirmed. the defense stocks, general dynamics climbing 2.6%. northrop grumman up 2%. l3 shares, we've got those about 21/2%. remember when we basically said we were having the bootlegged version of a fed meeting, this is where jay powell was pushed

and prodded by david rubenstein on where interest rates might go from here. and forget 5% peak rate. and they are placing big-money bets on a 6% peak rate. david rubenstein joins us in studio on what he read from powell's body language, where the fit is ready to reach, let's get to the markets. the nasdaq is down 86 points, the s&p poked his head up to join the dow in the green, both have been swinging like pendulums. the dow is up one hundred 47. it has crossed the unchanged line 41 times, the s&p 500 has been swinging the back-and-forth crossing the line 59 times. why the indecisiveness? it could be the fed. even as consumer sentiment

climbs to a 13 month high the major averages are heading for their worst we can two months, the dow is on place for third losing week out of the last four, the nasdaq down 2. 5%, the nasdaq is on track for its first losing week of the year, 2023. and snapping its loss, since november 2021. the nasdaq is slipknot a weakness. the biggest nasdaq ladders, losers, and 6.5%. you've got airbnb lower by 8.5%. jd.com down 6%, doc you sign losing 5% and nvidia down 5%. those losses pale in comparison to lift's dramatic, 35% decline. 35%. the selloff cutting shares by one third, the move triggered by lift's better-than-expected

loss and week revenue guidance. it falls off a cliff here. expedia is under pressure, falling 9. 4% after a quarterly report came short of analyst expectations. gross bookings were up 17%. the company says travel demand has been hit by harsh weather. you've got expedia looking pretty unattractive at the moment. let's go to the treasury, ongoing significant story, two years slipping after its highest level since late november but we haven't up 2.2 basis points, the 10 year, that number of 3.78%, the highest since january 3rd. oil is a bright spot on the session, searching by 2% on plans by russia to cut oil output by 5%. that he wills 500 barrels a

day, as today's sector winners. investors are cautious, ahead of tuesday, january's cpi report, expectations, 0.4%. the year over year gain, lower than december's jump of 6.4%. the expectation is 6.2%, pretty high. we have muscular inflation. as we head for losses after a strong start to the year what could this for boat for the first half of 2,023? right to the floor show and keith fitzgerald and dutch masters, we have a great january, what do you think is happening? what in the market psychology, what moves have you make in? >> we've been long for most of january and february. we actually just cut back quite a bit and went to two thirds

cash. we want to wait out the cpi number and see where things go. it's really up in the air. liz: to see the s&p across the unchanged line 59 times today alone. >> it is terrible. it is what you talked about. the narrative flipped within 48 hours, from rates are going to be slowing down and the fed will slow down, to the fed will hit the gas again and has things worked out. the markets holding here, which is good, but how long will it last? we don't know. we had to go to the side a little bit. liz: you are waiting for bigger money to lure you out into the play action. tell me why you feel that way? not ready to come in.

>> one of the greatest secrets to profits in the marketplace is for me, what i like to see is john templeton, i want to see somebody put money over the corner of the room, walk over and pick it up. what we are seeing is a constant back-and-forth action, the computer duking it out, noise about the cpi but it does not disturb a long-term business case, that's what i'm waiting for. liz: after uber's great note for the fourth quarter, now lift, as with an opposite picture. how do you know what is a great company? what do you look for? >> i look for musk to have companies, expedia and lift are nice to have, take a journey on your feet which is something you must do or take a car which

is nice to have. expedia the same thing, take a travel trip or have a nice to have travel trip, microsoft is different, they are putting numbers on the table, the economy is moving beyond lift and expedia which people are beginning to understand. if i go from 0 to 1. liz: you like to purchase on days when things are down. i see disney's sales force which had decent sessions until the closing bell yesterday. right now there big laggards on the dow jones industrials. at the bottom you can see salesforce down 3.9%, disney down 2.4%. a hangover actor activist investors pile in. where do you see the potential? >> i like the high-quality stocks and i totally agree that you've got to go big now. salesforce.com. microsoft, nvidia, there is some volatility but the must-haves are winning, you are

seeing misses out there that are a little concerning to us, as you mentioned with lift or rubbermaids or whatever, the market is narrowing and putting us right, where is the big-money going to go is the question i keep asking? the big-money is going to power into the highly liquid water stocks like microsoft and nvidia and salesforce.com. liz: i have to push you because everyone is talking and turning their attention to tesla this week. tesla is an interesting mover here for the week, up 13, for the month, 13.6%. for the year, it is up 60%. i know you own it.

>> what i want to see is the week money get forced out. people can't make up their mind, wall street knows that, they push everybody's buttons, the strong fee, because light is a great name i want to purchase more of. i don't own enough shares but back to $300, even a hint of a power up. liz: defense stocks, certainly, the pentagon says it has shot down another flying object. quick comment on this, general dynamic talking about lmt, raytheon. >> they are my favorites. the united states -- the key here with china is it is dangerous right now, they are trying to bamboozle the west and we are being played, we need to reengage our thought processes. it is an exceptionally dangerous time.

liz: you like any of these? that is up 2% as well. >> we like the defense stocks. we like lmt. liz: thank you. nice and precise, gentlemen, happy friday. a lot going on, we will keep you up to date on all the headline from the pentagon. traders sending for signals, they do here powell screaming from the trees that the fed's job of raising rates to quell inflation is not done yet. was it something powell revealed during this conversation with david rubenstein on tuesday that has the market betting millions than 5%. %. coming up i get to sit down with a man grilled powell, david rubenstein is here in a fox business exclusive next after the commercial break. the closing bell ringing in 49 minutes, dollars up 130 points.

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>> if i wanted to get a mortgage on a house i was going to purchase, you would say i will not be better off waiting until next year then now, because rates won't come down that much so -- surprisingly, i get a lot of requests for advice on those things. >> i can't respond. liz: he tried. those who did not see the rest

of that interview, david rubenstein tried 7 -- 17 ways to shake from jerome powell how much longer and by how much the bank but he wants to hike interest rates. investors are betting the fed will hike rates another 25 basis points, 9.2% of them think a more aggressive 50 basis point tightening is a possibility. look at this. in december, the majority of fed committee members at the rate at which they expected to pause was 5%. traders are betting the fed will not stop until september when its key rate hits 5.5 or 5 and 3 quarters of one%. what was david rubenstein able to extract from powell that investors heard in a fox business inclusive. the billionaire investor joins us. we were trying different ways to get them to cough up rates for this year. >> he skilled at this point,

didn't tell me anything he didn't tell anybody else, inside baseball, i got the impression he was surprised by the jobs report and if you interpret what he was saying, less likely we have it at the end of the year than people thought before the job numbers came out. liz: the market and these traders who bet on where rates go heard something you extracted from him. maybe it was, we've got a huge job creation number that blurted out into the world. they are putting multimillion dollar bets on the fact the fed will be forced to raise 6%. there is one outlier who thinks it will be 8%. >> traders change their minds, you can't rely on what traders are thinking. it is too early to know what the fed will do before the end

of the year. they will wait and see what the numbers are. jay powell is skilled at not saying what he doesn't want to say. liz: do you get the sense he's mindful because he's afraid of rattling the markets? >> he doesn't want to say anything to upset people or surprise people outside of official context. he misses official briefings, when he doesn't interview like that, that's not where he wants to make news. liz: let's talk inflation, december cpi, 6.5%. it is a really good read of consumer inflation. it was 6.2%. at what point did people realize the fed and powell mean what they say that they like people instead of spending, park it and get a better yield

somewhere else, they are going to end soon and pause and cut before the end of the year. >> there surprise the job numbers were so high. we had the opposite here. but that is mystified by the weather that is going to happen. until the fed sees unemployment going up, they won't feel they accomplish the mission. liz: patrick harker said he does not expect they recession. in a couple months, what do you see on the horizon. >> the conventional wisdom, people thought a hard landing was inevitable. people doing soft landing at

the fed might steer us and that direction. don't think we will have a recession this year. liz: where are you putting the cash you are waiting to deploy? 's is it in treasuries? i was noticing the 6-month yield right now, we can put it up at the moment. it is climbing exponentially at the moment almost at 5%. >> the best thing is put your money in private equity deals. the treasury yield is astoundingly high compared to the last 5 or 10 years so people are living off their savings, but people like me, private equity gets better rates. liz: people can deed dues where the public markets might be, sort of related. an extended arm. where in private equity do you see opportunity? >> healthcare.

when i work in the white house 40 years ago the healthcare, gdp was 7%, 21 or 22%, people are living longer and want better healthcare and more money going into it, private equity and public equity. liz: we have breaking news that the defense department is telling us they are briefing the media about this object the size of a car that they have shot down over alaska. it is on identified. it was hovering at 40,000 feet. in the wake of shooting down the china balloon off the coast of north carolina, south carolina. are you concerned about the global the government, specifically our relationship with china? >> the us relationship with china is not what we like it to be but it is in an intense period of time. the balloon episode didn't help. this latest episode -- liz: what is xi jinping doing and thinking? was he trying is he trying to egg on -- >> he may not be completely in

control of what the military is doing. the military is a separate organization unlike the us one where it reports directly to the president. china's military is a little separate and he may not be on top of what it is doing. but it is somewhat surprising that another one was found. it may have been launched before the other one was shot down. liz: people come to you and say where do you think rates are going? what do you think is the peak rate, the terminal rate and back to the mortgage rate question which you tried to get an answer from, people are wondering, do i purchase the house now? do i weight? >> it is a fools errand to guess where the fed will go or where interest rates are going to be. can't decide based on the information we have. we have to wait for the data to come in. tell me what the job numbers are. liz: say it is 250. >> if so, people would think

inflation rate is coming down and the fed will not need to keep increasing at the same rate but the conventional wisdom is 25 basis points. liz: if you were a betting man. >> which i am not. liz: i will try to pull a david rubenstein with you. would you bet that the fed drops rates by the end of this year? >> i'm not an expert on it but it is unlikely based on job numbers. invite me back. liz: we will q the tape. thank you very much. david rubenstein, from one financial billionaire to another. the co-owner of the nba champion milwaukee box probe all teams is commonplace. the rise to success is a 1-of-a-kind story. this is one that you have got

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liz: we are looking at the s&p 500 which is crossed the unchanged line 62 times this session alone. a lot of indecisiveness and the s&p, don't want to say it is down, it is down one point. dow jones industrials up one hundred one at one at the nasdaq down 105. let's get to yelp. yelp is getting thumbs-up reviews from investors. they reported record 2022 revenue of one. $2 billion. people out and about checking yelp to see if certain restaurants have good reviews,

total advertising revenue spiked 15%. driven by strong advertiser demand. the stock, up, 4%. we teased this before the commercial break. the adrs down 1% after the company warned it could post a loss. the problem could be twofold with both problems related to pop stars. number one, the cost of unsold easy inventory designed by kanye west threatens to wipe out there profit. this would be the company's first loss if it does come to pass going all the way back to 1992. since splitting from west after he posted anti-semitic tweets, they've been trying to replace the $2 billion in annual sales that they generated. might not come from their newer bet on beyoncé. sales of their park line are struggling and reportedly they

fell 50% of $40 million. looking at newell brands, the maker of sharpys and yankee candles, look at the inter-day, that is more fascinating, way down early this morning, in positive territory, up 1% and lows up 7%. the parent company including elmer's, rubbermaid, fourth-quarter report showed revenue fell 18.5 year over year, a disappointing for your outlook which includes a surprise loss for the first quarter. robbie announced his retirement, president chris peterson set to take over in may. we are monitoring decks, up 9.5%, top performer on the s&p after the maker of devices for diabetes patients reported top and bottom line beat. be. the glucose monitoring system

is expected to support top line growth of 20% in 2023. to announce the upcoming of us launch of g7 system, decks, has unveiled its super bowl ad, featuring artist nick jonas diagnosed with type i diabetes at the age of 13. it was centered on magic moments people with diabetes can achieve when they used ex-con g7. it is doing well at this hour. crypto on the bench, super bowl commercial season, we are going to look at hot sectors dominating this year and why crypto has gone cold compared to last year. $16 billion in wagers are expected to be placed on super bowl lvii. jason robbins is live in the chair from phoenix. he will join us to tell us how they are planning to grab a piece of the pie next, closing

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goes with it. it will be a record spending this year. the 32nd spots are going as much as $37, no crypto currency this year. think of food, drinks, alcohol, technology are picking up the slack. there will be less car ads this year but the ones you see will be pushing electric car models including general motors, netflix, kind of clever, beer and alcohol brands during a game and and either bush has given a picks exclusive rights they had since 1989. you will see plenty of blood and michelob ads. the halftime show goes to rihanna in her first live performance in 7 years. a new sponsor, apple, and apple music, they are spending 50 million a year for those exclusive rights. cash is not the case for crypto

currency and back to this ad from last year. >> trade? are you sure? trading crypto. >> ftx is the safest way to get in the game. >> ftx, safe and easy way to get into crypto. >> i don't think so. i'm never wrong about this stuff, never. >> that ad hasn't aged well. ftx has filed for bankruptcy. sam bankman-fried has been arrested for fraud and it adds to the super bowl ad curve. coin base plummeted since its levels and secondhand car seller carvana on the brink of bankruptcy. and he doesn't age. liz: he does. thank you very much. we are now roughly 51 hours from nachos in my face.

why do i keep saying that? super bowl lvii. the league mvp, patrick marhomes taking on the eagles and ice going battle and people who can really use the points are sports betting companies. since the start of 2,022 draft kings is down 42%. these are's has lost 34% and the apps down 10%. those stocks are doing well this year, what happens after the super bowl? joining us live from the super bowl road in arizona, drafting ceo jason robin. describe the atmosphere behind me. what is exciting? >> tons of media companies, just like every super bowl, gets taken over and a lot of great energy. they were expecting half a

million people. huge crowds, a great set up. liz: it is something like 50 plus million americans are expected to wager on it. that's a big jump from year over year. $16 billion, 60% more than people wagered on. it is legalized in more states in the country. >> it is a combination, the biggest sporting event, super bowl, the largest betting event. this is the biggest betting event in the us by far. they are watching it. the color of the gatorade to

the coin toss. will there be an octopus? do you know what an octopus is? liz: i know they put squid on the ice for hockey games. >> an octopus in football is if you have a same player score a touchdown in a two point confusion. that is a cool one. it is a casual way to go to a party. this year it will be the biggest year ever, more states, markets grown, really excited about it. liz: what is wrong with the stock, not just yours but the entire sector. in the past two years we saw a lot of consolidation, that seems to have pulled off a bit. you have national gaming going

on, flutter buying fan tool, how do you get interested here? >> we have to keep producing results and doing what we said we would do. that our mantra, having the same consistent message explaining what we were doing and delivering the results. that is our focus, can't control the market. there's been a lot of macro stuff going on, not just our sector, the market has been feeling some pain. a good start to this year, we were up nicely this year but need to see -- we need to produce results and do what we said we would do and if we do that investors will realize there's a huge opportunity. liz: for people who can't see on the chart, 39% jump since the start. let's talk about the gambling atmosphere, the legalized

gambling atmosphere, 30 states in the us as of this month have the green light to do that. you can gamble in pennsylvania but can't gamble in missouri. does that mean to make a wager, you've got to walk over the line, how do you see the market expanding in that state and the others? >> what they are going to do is go to the illegal market. the case in all these states, when the state opens up, there's a large existing market, betting illegally for many years. every stable experience that across state lines and it is easy enough to do so. people are more convenient to go to the illegal market. liz: i will go with yellow gate. what do you think?

>> that is the one most people are betting on in drafting. i read somewhere there has never been something like that in a super bowl coach before so we will see if this is the year for that. a lot of people betting on the yellow greens. liz: i am betting on the browns, let's make that clear. sunday night, that is not happening. make the browns do something. >> when we talk i feel your pain. liz: ohio is one of the states where we can. good to see you. have fun. don't forget to watch the big game on fox this sunday. coverage of super bowl 57 between the kansas city chiefs and the philadelphia eagles, started 6:30 eastern time. speaking of football the

washington commanders may be up for sale. amazon founder jeff bezos had his eye on the nfl franchise and what would he be willing to jettison. charlie breaks it next, 13 minutes away, one hundred 70 points, 13 minutes before we close the last session of the week. stay tuned. ♪ new projects means new project managers. you need to hire.

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liz: i'm just reading headlines as we head into super bowl weekend. let us update you on that high altitude object that was shot down at 1:45:00 p.m. eastern awoft northeastern part of alaska. the air space over northern alaska is closed to air traffic in an effort to support department of defense activities. the object was flying, drifting in a northeasterly direction at the altitude of 40,000 feet. the pentagon says the object was not an aircraft per se. still unknown is what country

owned the object, what speed it was traveling at and whether it was manned or unmanned. the pentagon said there is no information on that nor that it is maneuverable. let's get to the super bowl question. questions over who could buy the washington commanders football team. one big name at the top of the list of contenders is jest bezos. charlie: we broke news that bezos is in the running and the sale could take place after the super bowl and before the owners eating in march. jeff bezos, the former ceo, he's now the chairman. liz: founder. charlie: he's favored by the nfl to buy it. he's worth over $150 billion. he can easily afford the $6

billion, $7 billion. a lot of people say he's pressured to sell because there is a whole sexual harassment question. that's why the team is for sale. bezos is the choice of the nfl. bezos won't deny he's interested in the team. he said he's interested in swapping out "the washington post," the newspaper. he's clearly telling people he's frustrated by running "the washington post." that's why that story was run by the "new york post." liz: what do you mean frustrated? charlie: because it doesn't make money. a person who knows bezos personally says he hates losing

money. i can tell you that's leading to the speculation that he wants to sell. he thinks it's a lousy business with financial problems. it's competing nationally in an era of newspapers are a tough business. all media is a tough business. everybody is cutting back, "the washington post" more than any. for a lot of specific reasons. he doesn't like running it. he's never been able to integrate it. and people think he's going to sell it. let me get through this. here we got -- i will bring up the debt ceiling. people close to the house speaker say he's going to play the long game in this debt ceiling back and forth with the white house. so we might be talking about this for months. here is the interesting thing. it could last until june, and here is why. they believe the fault becomes a

real possibility only injuring. before that they could tap various funds and close the national parks. you could tap money to avoid a default. he wants to play the long game to get something out of the white house so he could say, dude, victory, got something, and he's willing to go to the edge. in that time markets will get very volatile. not only the markets getting volatile, the u.s. could get its rating cut again. liz: it never happened before. charlie: it happened in 2014. liz: sorry. we never defaulted. charlie: this game is hated by the ratings. he's going to play a long game

of ching with the white house to get something. liz: nasdaq firmly on pace for its first losing week of 2023. the rest will close. my next guest will teach us why you must do a little bit of homework that he will do for you. let's talk about these two. you are saying 12% of the assets in one of these two. one of them is doing better than another. which one and why. >> the i-shares core emerging markets has south korean expose our. companies like sam sungs are a top 10 position. south korean stocks are performing well this year,

better than the emerging market. vwo is diversified across china, taiwan and india but it doesn't have south korean expose our. these two etfs cost almost the the same. but there is a notable difference in the performance record based on what's inside the portfolio. liz: itmg has south korean equities and the other does not. you point out an important distinction. emerging markets have been the buzz word as of late. people say forget the markets for the moment. it feels like it was a year ago people said value, not growth. how long does this last? >> the federal reserve is likely

to be slowing its rate-hiking program and perhaps stopping in 2023. and we have seen strong interest to get exposure to emerging markets using etfs. icialtion emg, the i-shares product has take many $3 million alone. they are interested in the e.m. space. >> emerging markets. they were beaten down. maybe there is room to move to the upside. the dow and s&p. go browns. larry: hello, folks, welcome to "kudlow." i'm larry kudlow. we have breaki