never thought anything like this was possible. it's been creeping up a few years, military families spent 25 million food stamps in 2007 but it's critical especially for lower ranking households with children and recent survey respondents answered to sometimes or often we don't have enough to eat. 23% of active-duty households with children replied yes. lesson 12% of all american households replied yes so a lot of reasons we can't recruit folks into the military. i suspect not being able to feed your children ranks high among them. these are the people who keep us free, freedom isn't free, need to help them immediately and i'm sure liz claimant would agree. >> you think about food inflation, people are saying is going down, it's not. we have a couple of stocks to show you what we are talking about. let's start with breaking news in the final hour of trade, major averages have poked their

heads into the green but you might not want to fully trust this yet because we have been down multiple times during this session. right now we do have the volatility we are seeing, anything might go, glad you're here with me. forth days in the red, s&p is edging higher. right now we got 18 points, low of the session down 21. if it closes higher, it will snap is longest losing streak of 2023. week to date broader index more than 2%. let's get to the dow joe's industrial, the dow at the moment up 75, the russell is up nine and nasdaq by 73. check boston, a i can't even save but they are boost nvidia and in turn nasdaq, shares of nvidia are soaring 14%. put aside the fact that nvidia reported sharp drop in

fourth-quarter profit last week, the stock is powering to the top of both s&p and nasdaq in part, i can't believe this, because artificial intelligence, that term was mentioned 90 times on the conference call. nvidia is a leading supplier of ai chips and has seen a major turnaround since it's atrocious 2022 performance. nvidia gained 60% year to date. if you want to see something interesting, look at the glow bestowed on the sector, along with the u.s. government targeting ones from the chips act to ensure chip supply state jane dominus, taiwan advanced micro micron, marvel and chip equipment maker kl ac, nice moves. same with marbella and you can see big moves for the other names. as strong as nvidia is we need to show counterbalancing stories outweighing it. here's my get to what i mentioned to charles, food

inflation. pizza stocks are turning cold. dominoes at the bottom of the s&p 500, pizza delivery chain be fourth-quarter profit but missed sales estimates because the ceo says consumers are cooking their own food to save money. yes food inflation is still a thing. abdominal shares are following 12% but will get rival, john down 7% after it reported decline in fourth-quarter sales and earnings so stocks are struggling to get up under the federal reserve shadow and comments that, almost everyday about them. while the dow is gaining, blue chips gain 227 points this morning so 91, we are not close to that high but the dominoes story underscores why the fed is going to continue to tighten interest rates in the effort to quell inflation. the market think the odds of a

larger 50 basis points move and fed march meeting so yesterday the number on the far right stood at 24% odds we would see 50 basis points move. right now today it's moved up to 27%. let's get to the employment picture adding fuel to the fire, jobless claims for the week ending they were 18 coming in at 192,000, that's lighter than the expected 200,000 indicating an extremely tight labor market. not so many people joining the first time jobless claims line so how can investors duck away and start picking winners? it to the floor show, washington crossing advisor senior portfolio manager kevin and prosper training academy ceo scott bauer. if anything we are going to juice the markets. nvidia checked the boxes, a tech giant, 576 market cap, bright outlook and spewing the flavor of the moment ai and yet it can't quite grab the entire market narrative. what you think is going on?

>> exactly. there's no stocks right now that can save the market whether it's microsoft, nvidia and coming in this morning after seeing what nvidia did overnight where it was this morning, i would have thought we would have major rally on our hands and yes everything is in the green right now but the concern is focused firmly and clearly just on race and what is the fed going to do? leucine fed funds rate go from basically zero to 5% in less than a year but i don't think we've seen the full impact yet. i think this is going to be tough. we are only a year in after almost 13, 14 years of 0% interest rates qe and the possibility of 50 basis points hike there's better than 50% probability of additional hike

in june priced and so the market is on its heels on that and it's front and center. what's impressive today we saw s&p came down right to the 50 day and nasdaq came down right to the 200 day today and traded just below, held and bounced. i was impressive but this is a tough take, tough market and one sector i would still be an and by in any dip is the energy sector. liz: i bet kevin has something to say about that. 88% of s&p companies have reported fourth-quarter numbers, energy names overall but 30,000 feet, scott said we still have not yet seen the full effect of the rate hikes. nine of them i think now the fed implement it since last march,

work their way into the earnings picture. can you give us a grade for the quarter and more importantly what you expect for the current quarter? >> what's happening with earnings is they've been declining and you've got earnings down about 6% from where it was nine months ago is not a crash and earnings, earnings are holding up relatively well economy but they are weak. the other thing obviously is the interest rates and what that means for multiples and interest rates are set to move a little higher when we look at the next nine months or so we expect to see maybe about five and a half% or so on the short end. keep in mind when have falling inflation which is what's happening, no gross no money supply the last nine months, why would inflation ease? what you're getting is a tightening of monetary policy beyond headline numbers for interest rates as real rates are

rising and that's what you need to look at. liz: then can you look at and sort of does use from that where the winning errors are? scott says energy, what do you say? >> i don't care what sector, they are high quality companies. what i mean by that, high profitability so return on assets, we want to see big number, very consistent businesses in case we do have a recession and we want to see companies that are resilient meaning they have debt in the capitol structure and you can find those in just about any sector. with that said if you want to look at the sector, energy would not be where we would go first so they are high quality companies, industrials and do pretty well. i'll close with this over the long term, the decline in stock values the last year and rise in interest rates is the silverlining in all of this

story long-term. liz: okay, long-term. scott, i know we've been talking so much about how the high bond yields have been a nice place to park money as people wait what appears to be this period of uncertainty. his back a crowded trade now? can treasuries be a crowded trade? >> is certainly can be, i don't think it's there yet. or you can put your money for two years and get four and a half to 5%. liz: 4.7% right now, we just lost scott but kevin i believe you are there. >> if it's a crowded trade, usually to the upside. you've seen declines in the bond market so almost a contrarian trade because there's a lot of pain in the bond market the last year end even the last few weeks. i wouldn't call that necessarily

crowded trade. liz: scott, we just got you b back. >> sorry, i don't think it's a crowded trade at all. we talk about the team trade, there's no alternative. there's going to be an alternative here for six, nine, 12 months. someone who wants to feel safe at night and park money away for two years like i was saying, four and a half, 5%, boy oh boy, that's very enticing. i don't think it's a crowded trade get. liz: now two years? we have to wait for two years? is it really going to be that long? judgment, thank you. we continue to watch all of this for the moment, markets are in the green so we mentioned ai was mentioned so many times on the nvidia conference call just as ai grabbed collective attention of investors so did vin text but two years later the drought is turning silicon valley into death valley as cash for startups dries up.

one of the nation's top venture capitalists is here to tell us when he sees a turnaround. closing bell 49 minutes away, we have a doubt jones industrial up 109-point. it's been down to 49, up to 27. kind of in the middle. stay tuned, we are coming right back. ♪

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, right back to us because kathy is going big ongoing base. known for buying others are selling, kathy would scooped up 200,000 shares of crypto exchange conveys wednesday as they were falling close to 7%. the transactions with about $13

million is our largest order for the vin text this year surpassing $9.2 million order earlier this month. choose after the bell, we are backing up into it, corn -based reported a be on the top and bottom line but swung to a loss. it saw its user base trading volume shrink. going base had a and a half million active users in the third quarter but dropped to 8.3 million in the fourth quarter. going base shares of just under 2% but aside, going base is one of many financial tech companies struggling to grab investor love they had maybe 18 months ago. a new report found funding plaster saw a major slowdown after the tech boom of 2021. global funding 6% year-over-year and ending lunged at 2% from 2021. is this the sound of a bubble popping or will investors seen this value?

board partner and former pinterest head of an na, cameron i'm sorry, is that the bubble popped we are hearing or is it the sound of a correction? >> i think a little bit of air coming out of the bubble slowly the last year, 18 months and you will see this sector being a low but it will come back. i think the driver and these businesses will stabilize swinging profitability and cutting costs and the granddaddy everybody is waiting for which is striped hopefully coming the next 12 months or so. liz: of the text over the past couple of years, we can put others that have already gone public out there, from so fly to synchrony to upstart but these are names, are they not, that saw such excitement around the beginning and now it's been a disappointment for people who got in the top but they are real technologies. anthony, ceo of sulfite came in,

they just said they will turn profitable earlier than exp expected. they got the bank charter, people are using them. >> they aren't going right and you look at robin hood and going base, 100 million accounts and eight and a half million active but it's not a business going away. robin hood has 30 or 35 million accounts, not small businesses. the concert correction driven by particularly the covid. with people with stimulus checks daytrading by meme stocks and game stop, that went away. then you are seeing the large decline in interest in crypto and i think those elements combined have made it difficult for robin hood and going base because trading volumes was done like 73%. however, to offset that with things like additional fees, subscriptions, robin hood is trying to get more retirement

accounts and things. liz: isn't venture capitol of food of the unicorns? if you want to become a uniformed and 2021 there were huge number of unicorn sin tech companies. these were stunning numbers, 69 last year but 2021, 122 unicorns and these are companies with billion-dollar evaluation, we give birth to unicorns, i guess we do but venture capitol drawing up, it's a fact right now, why? >> it means we are unicorns and worth 10 billion and more, evaluations are coming in so a 35 billion-dollar evaluation during the era race from the quiet and others. liz: that scares people off, does it not? >> 95 billion, rumors are it will raise 55 or 60 billion but

a massive business, trump 12 billion to 14 and a half billion of revenue last year so is still throwing. liz: when does the gross -- the stock price catch up with gross already there? so fly investors are waiting for something like that. >> there waiting and a lot of talk about square, block announces earnings after the bell today and they've done pretty well among, the two big thin tech companies that are the bellwethers are square block, companies that have been public for a while more established and smaller companies that have come up more recently struggling to get the profitability. liz: that said, if -- when strike goes public, would you buy it? would you be excited by that? >> i think striped is a business that's not going anywhere, it's established key moat in its processing business and expanding to other things like

lending and companies use strike not just for processing. liz: you are the former head of an na at pinterest, tell me what that entails when you are looking for companies to scoop up at cheaper prices you never want to overpay, how hard is it to hold back as everybody saying let's move these evaluations up because i've got to buy it to make my company bigger? >> you have to be disciplined and identify in our case pinterest at the time was about teams and technology because we are not looking at massive companies multibillion-dollar acquisitions. we did nine during my time there, most were smaller and in many cases individual people who wanted to put an senior seat. liz: you wanted to acquire human capitol. >> it's like ten engineers, this is like hiring one or two people

you will see they could run all of engineering one day. liz: when you look at an na and where to place venture capitol, you have to see cash flow positive? >> cash flow positive is nice but i think i get to the later stages of the businesses as they approach ipo, it becomes more of an issue for them to be approaching profit ability and i've done most of my work, you don't expect companies to be profitable. >> you are more of a pe guy but for investors watching, what is the number one thing you say they should look for when purchasing stock? >> these names like robin hood, like square and affirm and so fly and paypal, these companies maintain revenue growth at scale, paypal is a massive business and showing 10% revenue growth which is interesting for

a company that size. can you show revenue growth and path to probability? i think that is the big news, are they doing layoffs and cost-cutting and smart ways to get to where they can be profitable? liz: paypal 20% year-over-year but it's come back from the depths. >> it's been down 75% from this high 18 months ago. liz: thank you very much, great to have you. snow my god. there's snow on the hollywood sign. you would expect massive winter storm stretching coast-to-coast at this hour. it would create havoc at the airports but in southern california? we are going to take you live to los angeles international airport for a report on the mass delays and cancellations due to rare blizzard warning and something los angeles has never seen -- snow at the lookout by the iconic hollywood sign. closing bell 37 minutes away dow jones industrial holding on 116 points against, s&p up 24.

nvidia, if you are nasdaq older, you got to nvidia holding up the nasdaq right now. nasdaq up 96 right now. in i♪

business alert, look at this. usually even in the winter californians are relaxing by the pool. kind of hard to do that when it's snowing out. you are looking at you from 52 miles south of san francisco.

it's snowing by the pool. we showed you the hollywood sign, there's snow by the hollywood sign. california's far from the only state hit by extreme weather, south dakota on your screen. we have pictures from colorado, minnesota all the way to new hampshire, more than 3600 flights delayed. more than 1000 canceled nearly 1 million customers without power due to the wintry storm which is tearing through parts of the country and there's a blizzard warning at this hour in southern california. kelly o'grady where she is at lax with more on what travelers should be bracing for. snow on the hollywood sign? i'm from california, never seen that. >> i know, this is not why i moved here, i moved here for the sunny weather but march is a couple of days away, winter is going out with a bang but you can see got a lot of folks here now looking to catch their flights hoping, but check on air

travel at the national level, 3000 delays as of 3:00 p.m., 1040 canceled. yesterday we reached close to 7000 delays the magically so the numbers on screen will likely get worse but the biggest surprise is the winter weather expected in socal. blizzard warning hasn't been issued for l.a. county in 30 years. we could see up to 7 feet of snow in the highest elevations and record cold temperatures could gift us with a few inches of snow at 1500 feet which is unheard of out here. we are expecting twins up to 75 miles an hour which could mean thousands without power. we spoke to travelers at lax, how they are feeling about the incoming weather. >> this is crazy whether. >> i am always worried. i try to go on airlines that have frequent flights so if one is delayed, maybe there's a backup. >> i think for people with short flights, i would be worried if i were them. >> we may not see snow in the

city but the wind, rain wreaked havoc on a blizzard in 1989 on the highways. the weather is making you look like a liar, it was hailing and down pouring, it is sunny but you know better than anyone we are not prepared for that type of weather in socal. the weekend could be pretty tough. liz: you are not a liar, i got this from my sister who lives in bel air. if you know that, it's north of sunset blvd. snow in bel air, kelly, i am here to back you up. i'm telling you this is crazy. >> thank you. crazy. good to see you, thank you very much. foxbusiness alert, dollar general blaming its ugly profit forecast on the weather. the discount chain dramatically cutting both its 2022 full-year earnings forecast and warning about 23.

analysts were looking for 10.6% increase but dollar general says fiscal year 2023 profit will only rise between four to 6%. the discount chain is saying storm elliott which slammed the heart of the nation during the important holiday quarter damaged inventory and sales, stock down 4% right now. let's get to bath and body works on the move after an activist investor, third.said it's launching proxy fight against the company, daniel hedge fund that disclosed a mistake up 6% in bath and body works plans to nominate candidates to the company's board. third looks to address what it says, excessive executive pay and lighting financial performance of the retail chain. the ohio based company projecting lower-than-expected profits for 2023. bath and body works getting a slight bump on this possibility, the third might be able to juice the stock up at four and a third%.

ebay's stumbling after the company warned about declining demand for the first half of this year. cfo steve priest says he sees economic conditions improving by the second half of the year but it's way too early to predict full recovery, ebay down four and a quarter%. investors swiping right on bumper, online dating app reporting that an affected fourth-quarter revenue, app provider forecasting revenue for 2023 that's higher than analysts expect bumbles user growth define economic gloom as it recorded 3.4 million paying users for the fourth quarter of 2022. up from 3 million and the prior year. bumble is a dating app and says it's benefited from new features including complement that allow users to engage with each other before they decide to connect and they can do so by sending a note hopefully it's a compliment. bumble getting commented by viewers up 8% right now.

increasing job losses slowing growth, hard or soft landing, so many questions where the u.s. economy is headed as the federal reserve continues its march even higher rates. private equity pioneer, john castle who was the ceo of dlj. donaldson is here to share his longtime solid views about all of this in a foxbusiness exclusive. got to hear from somebody who's seen it all. closing docs 27 minutes away, dow jones industrial up about 147 points. we are coming right back. ♪

okay, you're going to be happy you're watching this segment, imagine taking 123 years of data, economic data and squeezing it all into one single book. that's what financial historians did to create the latest annual

critics global investment returns your book that came out this morning. they pass it around and have a friend sign it like high school. the book reports equities, currencies of 35 countries stretching back to 1900 including metrics transit and predictions and yes, inflation was not left out. according to research or data for more than a century shows once inflation goes above%, it was above 9% in june, it takes multiple years to return to the target rate and equities will not provide a hedge against that inflation. wait a minute, private equity pioneer john castle, founder and ceo private equity firm said in a foxbusiness interview in november that he thinks inflation and the fight to take it one to two years, that's all it will take, one to two years. he's back with me now in this yearbook that's come out.

>> i think it will take a couple of years and what i was saying in november, when inflation gets up to seven, eight, 9%, you don't stop in a month or two. liz: they say multiple years, two years. >> at least two years. the facts are, i think the federal reserve is ineffective so far dealing with this. you got to slow down, economists were totally wrong the last year about having a recession. a year ago they were telling us recession. none of that has happened and if anything, the numbers that have come out so shipping right al along, things like unemployment 3.4% consumer sales meeting at 3%. inflation and the most recent.

consumer price index 6.4% ppp up nearly 6%. liz: yet no recession. >> no recession and what we are getting at is even though they raised rates for 50 basis points or so, the reality is the only part of the economy that appears to have slowed down is a little in construction. there are some of the big tech companies that have had layoffs but overwhelmingly most of the economy continued to sizzle. liz: i want viewers to know about your background, anybody who followed wall street in the past 30, 40, 50 years, the lg, things were really different when dlj went public. were you this focused on

economic data and federal reserve? >> we probably were. we've studied all of that stuff carefully, we had our chief economist, chief strategist and so forth. the thing donaldson proved to me is don't be the first day. it's really hard when you are cutting through timber creating the initial path. the people followed us found it to be much easier. liz: the fed became more transparent, remember obviously when post alan greenspan, he started news conferences and you see every meeting has a news conference jay powell, is that good? >> i think it's probably fine. the question is whether mr. powell has been effective or not most people he started too late. i have people who feel he's always been a little too late so in the case of jay powell and

fed reserve, they say the only thing that's really visible is happened because of this rate increases we have had a modest slowdown and the construction industry. the rest of the world seems to go like it always has. liz: let me ask you, where are the bargains? there are still some bargains, are there not? were in the business of looking and scraping around. >> always digging for bargains but i find they come out of the ground once in a while and you just don't find bargains easily. i look for low prices. [laughter] by them cheap. when in doubt, buy cheap. i admire warren buffett, i think he's an incredible guy, an incredible job.

liz: last year it was energy was the number one sector, energy looking pretty good the fact that we saw big and unexpected inventories for the weekend -- look at this. energy stocks moving higher even though we have more supply. >> the price of crude is not as strong as i would like it. i have a lot of exposure energy and i've been in the energy business for 60 years. i joined mobil and later mobil and exxon mobil and 1962 so i know energy pretty well and i think energy will be around for a long time. liz: i hope you are around for a long time. great to have you. >> it's nice to be with you b2 coming up from a for criminal charges against sam bankman-fried, what it means for

the recipient of his charitable and political donations charlie will break that. closing bell ringing in 14 minutes, without gaining 124 points. everything was in the red about three hours ago and now everything is in the green. ♪

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as if the original charges weren't enough, there are additional charges filed against disgraced ftx founder sam bankman-fried. taken him at his charitable political donations that may alleged his fraud began as far back as 2019. charlie cast rita with the latest. >> fees for additional charges or supplemental charges could put him in jail 150 years of the initial number was 115 years with this indictment, if convicted on everything, it's 150 years pretty extensive. let's give a couple of highlights here against sam bankman-fried, he's pled not guilty, we have a call to his lawyer, he's with the u.s. attorney for the southern district basically that these charges can aim at his political and charitable giving.

he soleimani out of ftx to fund both but also used -- funneled money through certain third parties that worked at the firm's to make contributions so they wouldn't show up in his name. they want too much heat on himself so he used outside, people inside the company using his name, they were given money for him so he could craft crypto regulation with various congressmen and regulators he's doing it through this third-party, campaign finance violations. the real thing that got me, look at the indictment and i read it and checked it, they mentioned charitable contributions twice in terms of money misappropriated from ftx. why is that important? something like $100 million, maybe more, 150, we have to get the exact number including broward county talked about kids in broward county competing to

get money, the kids got scholarship money separate third parties that meant toward the kids, we are talking a lot of money, $100,000, go to foxbusiness.com to get the exact numbers but if you read this indictment, that money could have been part of the scheme. here's why, they say the scheme began as far back as 2019. the hacker found in broward county occurred in march 2022 so this is where it gets nasty. i can't imagine they will ask the kids to get back scholarship money but it's possible. liz: they can't call back from the kids i don't think they will but it's possible. it's also possible they will go to mentors which one of the is florida international university and say you give us back the money. we should say if you be the indictment, they are more cooperators than previously thought. it looks like people he gave the

money to bundling mom money through they are cooperating, they are not named, one is called cc one, the one is cc to. put it all together and the walls are closing in even it really hammered bitcoin, so many coins out there. bitcoin has come back. it is about 23,000. >> liz, remember that is a flight to quality. most cryptos. liz: slammed. >> evaporated. the industry is down from a 2 trillion-dollar industry to a one trillion dollar industry. crypto is off the highs. liz: coinbase is enabling u.s. dollar coin for institutional clients in more than 70 additional countries. >> you do remember what we reported the other day? liz: yeah. >> coinbase. larry: iex are still pitching.

they're proposing to team up to pitch a crypto exchange. liz: that is regulated. >> that is regulated. here is the thing is it end of crypto if bitcoin goes down to 15,000 or where it is now? crypto will be around for a while. my point this is still an industry that needs to settle out. it has not come to the grip with the fact gary gensler reiterated he believes one coin is compliant and that is bitcoin. eater or rest of them. liz: we're in the green. dow is on pace for the longest losing streak in nine months. we're talking about weekly loss streak here. down for the last four weeks. we have the dow up 97 points. s&p, nasdaq and russell and transports. transports just flipped back

into the green as well. palo alto earnings. palo alto network earnings are providing a serious boost to cybersecurity names. alpo al toe up 8% this week. gaining 2% yesterday after a big move. z sailer tripped back into the read zscaler. zscaler has seen a very nice move, erasing losses. you can see the huge jump on wednesday. crowdstrike is up 1 1/2%. as we see right now it has reversed just a bit, down just about a quarter of a percent. they are moving targets here. our "countdown closer" says, you know what? put those three aside. there is a cybersecurity stock he is absolutely betting his, her chips on i'm so sorry. good to see her. eva, coo entrepreneurship

shares. what is the name any know it. reveal it to our investor audience. explain what advantage it has over everything else? >> okay the name is ford net. it doesn't get the attention it should, i believe maybe because most revenues come from europe but it is a big company. you just mentioned some cybersecurity names. this is a hot category but what is interesting about ford net, whether you look at it from year-to-date, one year, two year, five-year perspective, they are the leader in this category when it comes to this performance. also have a valuation perspective they're attractively priced based on earnings and their margins look good. even increased by three times past three years. ebitda growth is 10 times their piers. investors concerned about the economy, volatile market, with a exposure to tech. this is a safe bet it knows how to make money and how to be profitable. i think that is a really good

pick in this market. >> that is the thing about some of these stocks certainly are profitable, they are cash flow positive but fortinet already seen a pretty significant jump here to today, i think 20 3%. how much stronger can it continue to get in 2023? >> based on its sales and it is perspective, especially when it comes to the european market. i think they will continue the run. regardless how much high they went year-to-date their valuation is still in line with their earnings, in line with their peers. i think they will continue this trend of being a leader in the cybersecurity category in the foreseeable future. liz: i want to talk about your etf because this is pretty interesting here. it is er shares, entrepreneur etf, up about 17% year-to-date. what makes it the entrepreneur etf and what is the strength it is drawing at the moment?

>> we are very growth oriented. we invest in, first thematic etf in this category. we invest in innovative, disruptive, entrepreneurial companies. these companies, the growth category in general has done great year-to-date. because we're very heavy growth oriented we have done, done very well year-to-date. of course in the last two years our strategy struggled but we believe as inflation will continue to come down hopefully within the next months or years, we will see growth come back. so the reverse of what happened in the last years, when you saw inflation increase and growth come down, we're going to see the reverse now. so for that reason i think that's a good category. that being said, we're very careful with owning companies and adding, increased weights to companies that have great cash flow and great margins. liz: yeah. i'm looking top shares, top holding, roku, spotify, teledoc,

square, these are definitely entrepreneurial, some might say risky. it is working right now year-to-date. as we finish up, we have 30 seconds? do you see reeggs? john castle said no recession before you? >> i agree with that no recession. unemployment will remain low. we expect it to. most layoffs are h1b workers. don't count. 80 million baby boomers are retiring. closing bell rings] liz: we have to run. that is the closing bell, thank you very much. major averages after a very volatile day close higher. larry: hello, folks, welcome toward low, i'm larry kudlow. so just when you think you're never going to hear from her again, vice president kamala harris