does not mean you're going to do well unless you are learning, taking note of what the market is doing. time and market doesn't matter if you are not adapting making tweet making relative things of that particular time but what history has taught you. failure to do so will get you in the same position henrique found himself in. here's the thing alecia got free drinks and a nice room. keep all that in mind, you're in the market trying to help you every day but you've got to take notes and you never want to panic or get too excited you want to listen to the experts but also ultimately want to make your own decisions. i say that as our market tries to come off the lows which is intriguing to me because going into the weekend, i would think we would selloff although the last hour of trading, i'm going to buckle up for it. liz: remember what happened yesterday. we did see a turnaround and i guess the question is, can the

bulls turn this one around like they did yesterday? it will be tough in the face of the triple threat bearing down on equities at this hour. dow jones industrials down to 75, s&p gone 37. the nasdaq losing 185, russell 2005 down 17. already a rough week today, you look at the week to date, the doubt nasdaq week to date suffered the most, the dow down about 3% and i can tell you the doubt is negative for the year. nasdaq looks to lose three and a half% this week but three major fear factors are darkening charts as we kick off the final hour of trade. you got to stay with us because yesterday we went from red to green, maybe it might happen again but you got the fed fear factor, continues to shake the markets, the latest brings the feds favorite inflation gauge, or pce stands for personal consumption expenditures, came in are both month over month and year over year. trader reaction was swift, bets 150 basis points just rate hike

and the next meeting stood at 30% earlier today, 6% jump from two days ago because the court pce showed consumers are still paying higher prices for goods and services despite the fed's best efforts to quell inflation. right now, it stands at 27%. again, it was 30% a few hours ago. no quelling russia's there's to crush ukraine, the world marks exactly one year since russia invaded its smaller poor neighbor and while ukraine and volodymyr zelenskyy have defied all odds by holding much of the country's ground, we have new developments at this hour and worrisome warning from the region. we will get that to you live from cave. the massive snow storm russian coast-to-coast threatening both lives and earnings of retailers and restaurant chains frozen out of foot traffic while all s&p

sectors are in the red, real estate and technology looks the worst. let down by auto desk, down 27 bucks, a pretty significant loss of about 12%. shares cratering after engineering software company's current order outlook failed to hit wall street's expectations. what is working? if you make electricity or extract natural gas, you are ahead of the game, utilities at is an international e.g. md are moving into the green by 4%. lindy and e qt, natural gas names are also up anywhere three to 5% but pockets of green few and far between, how will the next 58 minutes play out before the closing bell? let's get to the floor show, with got dill and cio at the terra investments. phil, these fear factors are swamping the market. boeing is a mess, bowing down about four full percentage

points. the company again has to temporarily halt deliveries of 787 just due to documentation issues but clearly if you brought it out, triple threat hammering everything else except about seven names here. what's going on? >> it is, it's called recession obsession. everybody is worried about with got hot inflation number this morning, everybody totally freaking out. if you look at the stock market, look at the dollar which is at the highest level it's been since january. commodities got crushed, stocks crushed but what i'm seeing on the screen right now, this comeback is pretty incredible. technically, this shouldn't be happening. why is that happening? whenever you see a market that breaks down below support and it starts coming back, that tells you the market isn't going to believe it and i think the reason we are coming back is james bullard, the fed speaker today called off the dogs a

little bit when he's been one of the most hawkish guys out there but seems to suggest maybe the markets starting to get, they priced in what the feds have been telling them and it's one of the reasons we are making a comeback. liz: would you call it recession obsession? jean, you got your own self diagnosis, calling it an interesting syndrome, first-half concern, second-half optimism what's behind the second half optimism? i think our viewers want to hear about that. >> thank you so much. before i go to optimism, the bad stuff we have high valuations and uncertainty around corporate earnings and fed being super aggressive right now looking for doppler showing aggressiveness, we will expect that to in march and the fed had the data before the last meeting, 50 not 25 basis points but the excitement of the second half is three things. number one, uncertainty in the

economy and markets, this pessimism will create lower expectations, easier to beat. second the inflation story right, disinflation helping them, commodity prices will help the fed. third, if we have a recession, it will be mild. liz: why not load up now during the weakness when prices are lower versus waiting until the second half? >> we think it will be lower, better opportunity. this rallying in january, 10% rally since october last year, not sure it is legit. oil has been down, gold is up, you see everyone focused on this no mandate in earnings need to be revised lower in the market weakness, good news today we bounced off the moving average but low volume, not that great. liz: he just referenced energy, fill but also metals if you look at the metals today, they are going and that's everything,

platinum, high-grade copper. bold obviously. silver, too. everything is down anywhere from half a% to two to 3%. then we flip it over to the other commodity about which you know so very much. oil has been done but say it's basically an energy crisis hurricane and the reason it is down is because we are in the eye and the tail will come to think back and the prices will rise again. >> you are right and people have got a false sense of security looking at europe saying the energy crisis is over, plenty of supply. they look at inventories and the u.s. they say they are 8% below average and i say, throw that data out. in reality we've released over 280 millions from the strategic reserve if you throw that into the mix, oil inventory in the

u.s. are at the lowest level almost ever recorded for this time of year. there's a lot of significant risk when it comes to global diesel supply or below average, almost everywhere you look and with china coming back and make no mistake, despite the fact that copper is selling off big today because they are worried copper won't and if the daughter is going up, they will come back in a big way so i would be cautious if you have exposure to energy, get ready because the other part of the storm is coming back. as you know, sometimes the second half is a lot worse than the first go around. liz: i remember covering hurricane andrew and in louisiana, home of tabasco sauce and yes, the second with around was -- that's not the meteorological term but yeah. it was much worse. when you look at energy, natural gas and of course on this day is one year anniversary of the russians invading ukraine, natural gas spiked so dramatically hike but it down 48% over the past year so do you

agree with phil and if not, where else are you getting ready to pile in? >> i do to an extent, i do think energy -- when the energy is high, a stronger dollar, we expect the dollar to strengthen later given uncertainty. the oil, i'm not sure i agree with phil on the oil story but i agree on the cover story. china, the reopen of china, china consumes half the world of copper supply average american home is 400 pounds of copper and car 50 pounds of copper. copper is a great thing. we will continue to move higher. what we like from the investment standpoint sector, we love technology. ai is going to be like electricity in the 1890s, it will be huge. we just don't know how huge. we like financials, opportunities and third, we like the consumer.

consumer spending is picking up, we like especially stronger earnings growth especially better evaluations and leisure side. the three areas most with our portfolios today. liz: i like leisure, i like leisure inc. [laughter] i made up a verb. good to see you, good to see you on this fright day. we told you about the core pce, feds favor inflation gauge, no wonder the fed likes it because it excludes food prices which are still outrageously high. this week general mills indicated price of its lucky charms won't be magically delicious this year. more like tragically malicious, the serial giant warned it's not done hiking prices due to inflation but listen to this, the maker of twinkies says the opposite no more price increases? how is the ceo of hostess brands going off? will ask about that and his sweet earnings report next. closing bell, 51 minutes away from that. stay with the claman countdown. yesterday we saw a complete turnaround. right now the dow down to 63, a long way to go but you never know. ♪

if you think prices are coming down this year, the department of agriculture says think again. forecast from the agency predicts while prices will rise, at a slower pace than the 10% pace last year, they still could jump 7.9%. food at home prices could climb 8.6%. one thing that's apparently not going to get more expensive, the classic american snack twinkies after posting blowout profits and revenue in 2022, twinkie parent hostess brands signal after raising prices 16.3% last

year, the bakery giant, done with price hikes. andy callahan present ceo of hostess and listen, i'm not complaining. i know your customers aren't but my team dug into the sugar datable as we call it, of 18.9% in the last year. sugarcoating the first ingredient in your twinkies and snowballs, how can your brand eat those costs without further juicing up prices? >> we did take a series of price increases last year as we mentioned, high inflation. we took them but price as a last resort where we start with the consumer, we want to drive continuous sustainable profitable growth and is not just the pricing, it's productivity initiatives, revenue growth management initiatives, managing medics and partner with customers to give the best value they have and that's what we are focused on right now. if things change, we have to change plans but as we see it, we can deliver our guide, another here of above

profitability in 2023 as mentioned, a terrific 2022 where we grew double digits across the board with high profitability. liz: those numbers honestly, they surprised me especially because all we hear is the american consumer is reaching for healthier alternatives, all i can say is people should understand one thing, what you talked about was 99% of your revenue is from the u.s. and little bit from camera so americans are buying this but on top of that, it is millennial's buying this, is this nostalgia play? what's at the heart of that trend? >> there's two things going on, indulgent snacking consistently has grown faster than snacking and food and struggle and macro trends of consumers taking a balancing approach of looking for each as they increase overall occasions with snacking

increases, they balance out better for you and indulgent snacks so they are doing it all but what we are doing is focusing on millennial parents and we are bringing new innovation and new ideas. last year we launched the lunch box for moms and the year before funds that are all leading the category in innovation and redefining the way consumers snack today which is more palpable, reimagining cake and a bar form that has multiple layers so we are bringing that innovation 44% of the category innovation last year was from hostess alone and we are doing our portfolio, reduced sugar and cookies. liz: i like that development because i personally am trying very hard to cut down on my sugar but for people who haven't seen this, it is definitely a mashup, it's got cream filling, chocolate, caramel.

caramel will always get me. when is this going to be on the shelves? could be one of those blockbuster hits you expect will add to the bottom line? >> consumers and customer feedback has been tremendous. customers can't wait to get it on chart. it can be a blockbuster, consumers ultimately decide what the initial response is, it's incredible, on shelves in the middle of march, it's coming in two flavors : chocolate, caramel and triple chocolate as you mentioned and you mentioned the layers. the quality hostess can bring to cake, we've invested a lot in body and we are putting it in bar form with multiple players, consumers really respond extremely well. liz: this brings me back to the cost of food and cost of commodities. you can look at soy, up about 5% over the past year, corn which corn syrup is in lots of products, up 5%.

most came down to 4% year-over-year. wheat down 19% year-over-year. very much a moving target. inflation and the consumer. do you as a ceo see any signs of recession? >> in our categories we see resiliency of snacking. we have talked to our millennial parents and they are looking 84% are looking for new ideas around snacking. historically we've been resilient to snacking. we do well in recession and boom but we see sensitivity to the consumer, we start with the consumer which is why enhancing merchandising and bring innovation and being sensitive to the price they have is the way we run our business. we've seen resiliency right now. we are still seeing high forecasts, high single digit inflation for us next year, we've given some margin

compression this past year. we expect that to be relatively flat but we believe that a good trade-off as we focus on our consumer and customer in bringing new news and partner with them to get them through tough times. liz: are you hiring? >> we are hiring. we are in the process of opening a new bakery in arkansas, it will expand our cake capacity by 20%. i told you my background, my dad worked in a fauci making sure we are focused on our teams, employees, training them and giving them good value proposition. we've expanded to 4o1k and employees purchase programs so we are focused on them and we are hiring. we continue to expect to continue to grow. liz: i feel i need to do some on the ground research at the assembly line for twinkies. i may have to descend. >> liz, we do baking very well and you are welcome at our

bakery. liz: great to see you. andy callahan, great ticker single. >> i love it as well. liz: it shows. good to see you. hogwarts legacy video game, it's only two weeks old and is already generating serious golden galleons for one company, not exactly known for spellbinding gamers out there. how much the harry potter spinoff has pulled in so far in straight ahead and popped stocks. imagine you are standing on a ladder fixing a light fixture at the gap and you get the proverbial call that changes your life. it happened to that guy on your screen, steve. no, he didn't fall off the ladder but he did answer the call to audition for the rock group journey. they sang in a band as a team but replacing fame lead singer steve perry. here how he hit an addition to

become the front man for one of the most recognized rock bands of all time. this week's guest on my everyone talks to liz podcast, great stories of success available on google, apple music, iheartradio, wherever you get your podcast. let me know what you think. closing bell 38 minutes away, dow about 266 points on the downside. as in peak down 37, nasdaq down 189. we got so much more ahead. charlie gas marino and everything else. twinkies, what more could you want? ♪ it's. ♪ ♪ e things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine.

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the network from the most innovative company. comcast business. powering possibilities™. who knew one year ago today a small poor eastern european country would fight back and hold its ground against the russian menace that invaded and attacked it? when vladimir putin ordered hundreds of thousands of russian troops and tanks to cross the border and overthrow ukrainian government he and pretty much the world thought it would be a short unfair fight instead, it's been long and buddy and still

going on. since putin's war machine opened fire on ukrainian cities, businesses and homes, united nations estimates more than 7000 civilians killed and 11000 injured. 8 million ukrainians sought refuge in neighboring countries since the invasion began today president volodymyr zelenskyy marked the anniversary of russia's war in the capitol morning civilian lives lost and honoring those who died fighting for ukraine. we have team foxbusiness coverage on this first anniversary of the war. fox news trey yingst live in the capitol of ukraine and cave, edward lawrence joins us live from the white house. i'd like to begin live in the heart of the war zone with trey yingst. >> good afternoon, one year since russia invaded ukraine and there's no and insight. while it is difficult to predict the future and what comes next, today we look back at those who survived the first year of the conflict. >> he prays of the church the key suburb of bucha before the

war, was a business owner. this married and had many friends. after living under russian occupation, his world collapsed. our family fell apart, the 65-year-old ukrainian explains. i lost the firm. before the war i had 65 employees. today i have six left. he lives alone, he and his wife divorced, his children moved to germany and he spends days delivering food to a local hospital trying to help the community. if you are lax, you will fall into depression and serious consequences he says. his story is not unique. when russia launched a full-scale invasion, one year ago they worked their way toward ukrainian capitol destroying every one and everything in their path. this time last year ukraine's western allies were urging president volodymyr zelenskyy to sleep the city of kyiv. he famously responded, i need ammunition, not a ride.

>> what was going through your mind the night russians invaded? >> what was on my mind? i think for the first time i didn't have any feelings because i didn't have space for fee feelings. >> today the biden administration announced another $2 billion in aid to ukraine. ukrainian president volodymyr zelenskyy is calling on that support to arrive here as soon as possible. liz: all i could say is zelenskyy has been such a beacon of light and hope not just for ukrainians but the rest of the world. he said men of fighting age must stay and they all did. that's leadership, is it not? >> absolutely. he set an example for ukrainian people. the early days of the war we watched from the balcony as young men lined up outside of a police station to get any weapons they could and fight the russians as they approach this capitol city we spoke with

people in my town square and the capitol of kyiv and one man stands out to me, he said he didn't know how to fire a rifle but he would use a kitchen knife to kill the russians invading his homeland. i think that gets to the heart of ukrainian people willing to fight for every inch of their territory and they need the western support to do so. >> you make journalists proud and appreciate it. stay safe. the war taking a major toll on global economy so before the war ukraine was known as europe's breadbasket. ukraine produces 8% of the world weeks but since the invasion, harvest from 30 to half million tons in 2021 to 26.6 million tons last year. russia exports 25% of the world fertilizer and because of sanctions stopped on russia, that's being felt at the world forms.

energy prices initially skyrocketed after the nations stopped sanctions on energy experts but after initially spiking in response to the russian invasion, natural gas is given back gains on growth concerns and so has gasoline, same with west texas intermediate to see all of these moved lower. since the start of the invasion you can see it here, crude down 18 and a half%, branch, the international benchmark down 1 13%, bob wholesale gasoline down 11% but one of the hardest hit commodities natural gas has really fallen after spiking. 48% lower than this time last year. too edward lawrence joins us from the white house as president biden announces even more sanctions on russia. edward. >> incredible reporting by trey yingst in the war zone so volodymyr zelenskyy, the president of ukraine says he's going to meet now with the chinese president xi jinping and they announced a plan for possible peace but today is all

about sanctions. deep cutting sanctions, really layered sanctions have gone into effect now from the united states and other countries around the world. we are talking about the department adding 86 entities to the blacklist of doing business, five on your screen, those are companies based in china. treasury department sanctioning people and companies with offices in nine countries in some cases companies sanctioned for just having the same address as others determined to help the russian war machine. they include financial institutions, wealth management firms, people helping russia if they incurred sanctions, aerospace sector, the literary supply chains, mercenary company and metals and mining industry in russia, all of this weird by the united kingdom and canada as well as g7 so i asked the spokesperson john kirby, why wait a year for such deflating sanctions? >> we have been holding mr. putin accountable and executing sanctions since right after he

decided to roll in toward kyiv. we didn't enact any of those until after he invaded but we kept them going throughout the year. we are going to keep looking at options going forward is appropriate to continue to make it harder for him to prosecute the war. >> up to now, none of the sanctions made vladimir putin link, he's selling more oil. most of the purchase by china to plan for peace, that heavily favors russia. >> they are not neutral which they are trying to in the recent position trying to portray themselves as, not talking to ukrainians, calling up to putin and their quote unquote no limit relationship with him and they're not calling this in invasion which clearly it is. >> growing skepticism from lawmakers on capitol hill about china's actions that have happened since president biden took office as well as concerns about the silence they are hearing from the president

himself to call out china and stand up to china for actions taken against the united states. liz: that will be an interesting meeting between zelenskyy and xi jinping. thank you very much. as our interview this week with the ceo of impossible foods a bullish heads-up for rival beyond meets? stock action today proving the faux meat haters may be wrong. find out why next. closing the 25 minutes away, who's got the dow increasing losses here, not the laws of a session still done 358 points and falling. ♪

foxbusiness alert, i do want you to note the lows of the session the dow down 510 points right now, it's down 377. we've got some people lowered by 52, nasdaq dropping to 32 points

or full 2%. beyond me though, sizzling higher at this hour after the plant -based meat company reported smaller than expected loss of the fourth quarter. stock up nearly 10%. u.s. sales fell 20% due to weaker demand in both grocery and food services segments but the company said its disciplined cost controls will slice operating expenses this year by 22%. lately the industry has been attacked by the media and beef industry but the ceo of rival impossible foods told the claman countdown this week the faux meat haters are wrong. >> we grew 50% last year and retail so you have to look at the offers. we are not a fad or flop, we're just getting started. liz: investors pumping the brakes after use car retailer reported wider than expected with course net loss. the company says net losses rose more than nine full but due to shrinking demand, for preowned vehicles. a lot of this is this year over

year because during 2022 saw demand was skyrocketing as people were locked down. cardona down 20% right now despite today's lunch, corona fill up 62% year to date. we got live nation stop fighting for air despite reporting fourth-quarter revenue $4.29 billion, a gain of 60% year-over-year. adjusted operating income came in at 97.8 million, that's below 106 million expected. that's why the stock is falling nine and three quarters%. ticketmaster parent facing he's from congress after a slew of which is during resales for pop star singer taylor swift's upcoming tour. do not break the hearts of sw swift, never going to work out well. discovery posted is appointing results in the latest quarter but here's what's really interesting, it's gaming business, who knew?

one major points for gryffindor. the company saying harry potter based hogwarts legacy game that launched two weeks ago holding more than $850 million in retail sales despite the fact that warner bros. discovery not a traditional videogame maker. media giant announced hogwarts legacy already sold 12 million games and you and bentley will be making in the d.c. comics and hopefully or at least for shareholders start making up the games. security and exchange commission chair gary gensler launches a full offensive against crypto industry, one company is fighting back and using judicial system to do it filing a lawsuit, charlie guess karina is next with the ceo of that company. investments, michael sonnenschein closing bell 17 minutes away. dow falling 369 points. volatility climbing about three and a half%.

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it has been a rocky start to the

year for crypto as u.s. regulators embarked on an industrywide crackdown in the wake of laster's collapse of the now defunct crypto exchange ftx. within the last few weeks chair of the security exchange commission gary gensler brought enforcement actions against u.s. exchanges cracking in gemini as well as brokerage genesis. genesis parent company digital currency group also owns a company called grayscale investments, major digital asset manager. the manager is ready to fight back against gensler over the decision to deny the conversion of its great scale but coins just into a spot bit coin etf. here to unpack all of this and explain what's going on in a foxbusiness exclusive ceo michael sonnenschein who joined charlie gasparino on the claman countdown. this is wild were going to sue gary and the sec? >> we are doing. we submitted an application to the sec, it was denied june the 2022 and sec denial was that

they would not allow our fund it points just to convert into a spot. >> was that trade? >> your strength and the same day the denial came and initiated negation against sec so we are about eight months into litigation and now about two weeks from oral arguments held. >> what you think about gary gensler? have you met him? >> i have. >> was he nice to you? >> he was. there's two pieces to this, a regulator standpoint, crypto moves quickly so we do sympathize with the fact that they have a tough job, as it class continues to change, use cases continued to be developed so develop rules and regulations around that can be challenging but important, the thing we are asking for it doesn't require new legislation. we are making use of existing security rules and want to brin-

>> he wants to put you out of business, doesn't he? >> i wouldn't say he wants to put us out of business but the sec had brought etf to market. liz: what is your shot at obviously this is going to be tough, you poke the tiger in the eye and gensler is not a sleeping tiger, he's wide awake already scratching and you are suing the sec, what do you think your arms are? >> we have straightforward commonsense legal arguments. the initiation of the lawsuit is around the administered of procedures act and that at any federal agency and says when you are going to look at an issue or preside on an issue you have to treat them alike. in the instance of the sec, they've approved several bit coin etf but no bit coin like this one. >> is a reason because they don't want to mainstream this yet because it's a risky business, why do you like gary gensler if he thinks you are

involved? >> the argument around this doesn't hold up because if you have an etf that holds bit coin, where does it get its value from? >> what's your strategy if you can't win in court? >> we still have other legislative options in judicial options available so certainly spending time in d.c. we think it's a year where it is possible crypto legislation could be a really important tailwind for the maturation. >> does your business survive? >> sure it does. the other thing is we are continuing to develop products, bring products to market. >> sales of 50s 5 cents 1 dollar. >> it does. >> when i hear that i hear distressed. >> the product traits more in these environments like closed in fund but that's actually the exact thing we are trying to sue for and with the sec, convert to

an etf with no more premiums. >> the market is saying you don't have unless i'm misreading 55 cents on a dollar means, you don't have a viable dismiss. >> when we submitted application we broke records with the sec from the number of comments the public submitted in support of the conversion of the product. >> cannot ask ask about ftx? you have no exposure? >> we don't. >> you must be serious because it set the entire industry back several miles, don't you think? >> i think it is very difficult to say anything other than we are sad to see how many people have been disadvantaged by places like ftx but for grayscale and me personally, it's a third crypto winter we've been through so what we see is

development activity, we don't see investors running. we are actively engaged in conversations in washington and legislators want to do something here, move policy forward in the wake of ftx. >> that's the irony, you do it the right way, you went to see gary gensler and went to congress. i.e. speak for the security lawyers who tell me they warned clients like you never go for gary gensler did. >> if you look at the commentary out of the sec today, it come in and register, talk to us. grayscale went in and registered. within a reporting company. >> they screw you. >> that's unfortunately why we engage in litigation. liz: what you say for them calling the of fraud? >> they are very involved in the crypto space. i think they have jp and coin, new product surround distributive technology so irony there as well. >> steve bennet has a coin did you know that? [laughter] liz: two weeks away, right? will you come back?

>> i love to. liz: thanks a lot. we got the closing bell five minutes away. five minutes before the end of the week and trading, dow and s&p 500 and nasdaq, they are having their worst week of the year. the dow down four straight weeks. that's the longest losing streak and nine months and we look to close down about 3% of the week, s&p down 2.7% on the week and nasdaq, the ugly three and a third%. two things i guess supersede all of what we talk about here as we mark one year anniversary of ukraine were, the human toll has been absolutely unbelievable. a lot of this has to do with the fact that russia has been attacking this country but if you look at the u.s. weaponry being used to help the ukrainians, here are pictures of ukrainian soldiers fighting back and using the m1 42 high mobility artillery system launchers, they are known as

high marks. martin makes these wonders, the company has a joint venture to manufacture the javelin weapons system also known as tank killers. they have sent over antiaircraft missile and more. today's content closer says both defense stocks in his portfolio and should be endorsed, driving pens 2.6 billion in assets under management, the cio appends wealth management. wonderful to have you here. i always am i. the fact that we are talking most importantly about the human toll here and nobody should be dying but it is what it is. a business network, why these two names? >> the bottom line is the javelin missile cost about $175,000 but can destroy $.2 million russian-made soviet tank, highly effective weapon and for ukrainians to fight back against russians who are

ruthlessly attacking is necessary to have them and use them quite effectively. human toll is horrible but the javelin fight back and javelins and stingers made by martin. >> what happens when you look overall at what we hope will be eventually the end of these war? you got nato nations encouraging ukraine to start peace talks with russia and god willing this will and. >> it will end with a dramatic piece, nato finally figured out they need to spend at least 2% once the war is over, if ukraine war ends tomorrow which i wish it would but you would still see a tremendous amount of spending

that's necessary to get these countries up to their defense posture they need to have europe is forever different now. these companies have about two and a half year backlog of their 2022 earnings in order so even if the war is over you have a long period of time nato to replenish supplies. liz: let's talk about other names you like like united health group and american express, up about 18% so far this year, a very nice move here but the fed continuing to hike rates, we know americans have the most amount of household debt on the balance sheet. that they have had possibly on record and where do you see this going? is there the worrisome possibility people will simply not pay off their credit cards? >> it's one reason we like amex, it tends to be held by the upper end of the economics spectrum and people pay more attention to their credit as even inflation and things go on in the economy moves forward, what you are going to see is higher prices leading to higher ticket charges. liz: greater revenue for

pavement systems. they are at the higher end of the market so you have lower relative the others. liz: fed funds futures, the area where market people can bet on the odds of what the fed will do at the next meeting this coming march. 27% right now think there will be 50 basis points hike. the rest think it will be 25 basis points. what you think? >> i think they recognize the expenditure went directionally wrong today and that's why the market has done what it's done so the bottom line is i think 50 basis points is on the table and this will be higher prolonged or environment. liz: that's what the fed says a lot. i kinda am, too. when people say they are going to do, believe them. great to have you, thank you so much. stocks ending the week with selloff, great to have you.

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