when you have higher yields. although the damage is in insurance and regional banks, not the big banks. it feels like one of those summer banks -- day, you know, when everyone's gone fishing, and that's the story. the market's waiting for the fed to become the fed that it knows and loves. to a cree, it happened about -- to a degree, it happened about an hour ago when the atlanta fed, bostick, hinted at a pause in a few months. nevertheless, this admission was special. so be cool when these markets are sort of like this moving sideways, they feel listless, those are often the best times to start chipping away. liz knows what i'm talking about. liz: did you say gone fishing or gone shopping? [laughter] i don't fish, i shop. charles: i heard about that kind of therapy. it's supposed to be pretty good. liz: it's very therapeutic. charles, thank you. the bulls just scoring a late-day touchdown. all right, market here with 59 minutes left to play, the score

in the bull-bears game has whipped around to favor the bulls. let me give you the pick picture here. the dow was already outperforming the major averages for the entire session, but now you see the blue chips are extending their gains in late afternoon trade. right now we've got them up nearly 300 points, let's call it 296 points. now, up until around 1:30 p.m. eastern time, the bulls had been playing defense at least over at the s&p 500 and the nasdaq. so the s&p had been down about 23 points. you can see now completely turned around, it's up 22. and the nasdaq had been under pressure, down 105 points, but same kind of picture with the s&p, you see it popping into positive territory on those bostick comments that charles just referenced. they were dovish. finish the atlanta fed president, rafael bostick, gave the bulls some love in a round table discussion with reporters. he warned that delayed impact from rapid rate hikes might hit the economy soon, and here's specifically what he said.

quote: i do think we're in a period now where it is appropriate for us to be cautious. the he, however, said he is fully in the 25 basis point camp for the next meeting, and that is coming up. now, the downer part of the day earlier was colored by interest rates marching to psychologically significant levels. let's put up the 10 and the 2-year. the yield on the 10-year treasury topped 4% this morning and look at it now, it is still at 4-month highs at 4.076. the 2-year yield above 4.9%. by the way, gang, that is a 16-year high. those peaks driven by more strong economic data; namely, from the labor department, right? the labor market. the number of workers collecting unemployment benefits for the first time, first-time jobless claims, fell unexpectedly for the third week in a row, holding below 200,000 for more than two months now. and then continuing claims,

okay, those are people who had already joined the jobless lines and are still there, that number also slightly dropped in an unexpected way. now, if you put that through the federal reserve sifter, you know what's likely to come out no matter what bostick says, more interest rate hikes to cool the economy. let's get to particular names that are driving the averages. notable stocks and news at this hour, take a look at the transports. we do have them up the most as far as percentages are concerned. looked at that 248-point gain, 1.6%. right now the notable name here is not the biggest leader, but it is one of the top seven leaders here, it's embattled railroad giant norfolk southern. one of the top stocks. the stock is the seventh biggest leader at the moment even as the cleanup continues in east palestine, ohio, after a norfolk southern train carrying hazardous chemicals derailed next month. by the way, the ceo will testify about that accident next week. investors can thank salesforce

for pulling up the dow jones industrials, crm, that stands for customer relations software, adding 140 points to the dow. the software company gave an upbeat profit forecast, increased its share buyback authorization to $20 billion. investors love it. to kroger, this is both a food and wage inflation story, but it's not hurting the stock either way. the u.s. grocer's profit forecast crushed estimates helped by higher prices, and kroger also says it's going to invest $# 70 -- 770 million to raise hourly wages and improve health care options for its employees. stock's gaining 5.# 3%. off the earlier highs but still nice move to the upside here. tale of two retailers, macy's and best buy both saw a pullback in quarterly sales, but macy's is moving higher by about 11% while best buy is falling by 2%. if you buy that consumer becoming more cautious due to inflation and then superimpose

that narrative over rising borrowing rates, here's what you get: a market now betting there is a 30.6% chance of a 50 basis point tightening at the next fed rate announcement. earlier that went as high as 32%. all right. march 22nd is when we find that out, so before then we've got so much to talk about. does that mean we're closer to the end of the rate hike cycle, and is it time to get off the sidelines or stay in high yielding bonds? to our floor show. joining me now, trader keith fitzgerald, and jack manley. jack, let's game this out. what happens march 22nd when the fed makes its announcement and as it pertains to stock investing, are you a bench warmer or getting out on the field? >> to me, that 25 basis point move feels more or less like exactly what's going to happen. i don't see any immediate for the ped to go great or than thao greater than that. the other thing is there is going to be a break in between that march and may meeting which means there's a little bit more

time than normal for additional economic data points to filter through. so if i'm on the missic here, maybe we do get some commentary that the fed is willing to see, hey, perhaps rates do flow through into a softening economic data and perhaps it does not signal that we're going to absolutely need another 25, maybe 50 basis points -- liz: and, therefore, do you say, put me in, coach? >> absolutely, i think so. if you're a long enough term investor, now is a fantastic time to get invested, because regardless of the next couple of months, you are looking at a market that is so dislocated from where it was just about a year ago, there is a lot of room for recovery regardless of chop. liz: keith, you are a stock-specific person who likes to look at great companies and scoop them up at a discount. we're looking at a strange thing when it comes to best buy and macy's. they both said that they've seen a more worried consumer, and yet macy's is moving higher. how do you decide which one to

buy if you say i'd like at least one retailer in my portfolio? >> well, this is an interesting one. you go with the best, not the rest. macy's is simply a long-term name. it's held longer in most portfolios. best buy is relatively recent arrival. if you go to the two stores, they're a very different experience. i think it comes down similar simply to psychological. personally, i'd rather own a costco and do. liz: you like a costco in that case. and i know that you've talked about some of the names that you feel are at a discount. jack is saying that, why not? there is so much more room to run. doesn't that also mean, keith, there's more room to suffer some real bumps between now and maybe mid year? >> well, there is, but also don't forget what else jack just said. he said if you've got the right horizon, ignore the short-term chop. i'm very much in that camp. if you're an investor, you understand that buy low, sell high is how the game is played. so to me, it's an opportunity to go shopper -- shopping, not to

hunker down. ly iz liz okay. and, jack, you're talking about a situation where if you blink, you'll miss it. what do you mean by that. >> so i mean markets move so, so quickly in response to economic indicators as they go public. you have high frequency trading, algo-driven trading, the rise of these frictionless online brokerage platforms. when you get a print out there, the market reacts instantaneously, and i know there are so many investors out there on the sidelines terrified of catching that falling knife because they feel like maybe things could get worse from here. you know what? maybe they do. but the nice thing is that where you look at the indexes for the moment at least from an s&p 500 perspective, it's still a 20% return over the next 12 months if you get in now. it's all just kind of noise. i sleep easy at night knowing my money works hard -- liz: where is it working hard? sectors? individual names? >> high level, forget about

sectors, but if i did want to talk sectors, it is a short-term versus long-term story. the value play still makes sense, in particular i like energy and financials despite the fact they've been beating -- beaten up. long term, i'm a tech and tech-ajays insent -- adjacent guy. liz: tesla is the name that had been really holding back the s&p. it's had a really ugly day. of course, yesterday was the big investor day and -- [laughter] we're going to talk more about this in just a minute, but elon did not wow the audience. in fact, they were, some of them, completely dozing off or at least -- i was watching youtube and looking at all of the comments coming through, can ask people were just dying for that classic elon excitement. where do you stand on the stock right now? >> well, i tell you what, i'm not getting rid of my shares anytime soon. you know, the guy changes every single industry he gets into. yeah, it could have been a little more flashy presentation, but, you know, how much of that is due to his being preoccupied

with twitter, with regulators, with lawsuits? the guy is as visionary as they get, and if you're betting against him now, you may as well have been betting against steve jobs back in the day. i want to see what he does. i'm going to wait out the short-term chop -- liz: it's nearly doubled since the start of the year. >> exactly. liz: now it's down about 6.7%, so for, again, isn't it through the prism that people need to put their eye right up against that kaleidoscope and say, wait a minute, a week ago i thought i missed the great moment to buy tesla? maybe you did, but it's 7% cheaper right now, jack. >> when it comes to the broad market right now, i think the nice thing we're seeing at the moment is that, hey, regardless of what happens over the next couple of months from a fed policy perspective, we're closer to the end of the hiking cycle than we are to the beginning. what matters for markets right now is not necessarily the absolute level of the race, much more the direction of change and the rate of change. so if we're coming to the end of this cycle, if the light is at

the end of the tunnel and we're getting closer there, that means we're going to have a much easier time being able to accurately price future earnings, and that means growth in particular, i think, is set to take off. liz: yes. viewers, you done do not want to be kicking yourself having missed out. but nibbling around the edges, both of our guys are saying here, not a bad idea. thank you, gentlemen. okay, so tesla's investor day, i told you we were going to talk more about that. many people said it was a dud putting some investors to sleep, but one company didn't blink the entire time. it kept a keen eye on what tesla executives had to say about building out charging stations that work for all evs, not just teslas. the ceo of blink charging here on his new rival in the ev pit stop business and how he probably thinks he's well ahead already. closing bell ringing in 49 minutes. dow jones industrials gaining 290 points now. let's see how high this one goes. stay tuned, we are coming right back. "the claman countdown" is back

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liz: well, elon musk has just learned you better give the people what they want. and what they wanted and kind of expected hum to be at yesterday's highly anticipated tesla investor day was a showman. and instead many said the ev ceo kind of was sort of low key, not exciting. during the nearly four-hour master plan, that's what he calls it, investor day, musk and his team revealed plans for a more sustainable future, another gigafactory buildout in mexico and a goal to produce 20 million evs by 2030, but there was nothing about when at least some of those cars would be the one musk promised two years ago, a

low-priced $25,000 model. no mention. and while tesla had a cyber truck on display e which everybody jumped on -- this is it on your screen, we put this up here -- boasting bumper cams and the sucker lahr yoke -- circular yolk steering wheels, no word on when mass production of the cyber or truck will begin. but one reveal that did not attract much fanfare but perhaps should have came when tesla's global head of charging infrastructure took to the stage to announce tesla will now begin charging up its competitors with ten superchargers in the u.s. now open to non-tesla vehicles. so what does this mean for the ev charging companies already in the space? one of the top ev equipment makers in the sector, blink charging, just struck a deal with the u.s. postal service to deploy 4,900 chargers to its facilities over the next 3 years. while tesla shares, yes, lost

juice by about 7% or, here we go, yeah, just around 6.5%, blink is also down. is that 3%? can't even see. 3.5%. but they just posted higher revenue 48 hours ago. to the blink charging founder, ceo and executive chair, michael farkas. welcome back to the show. what does it's tesla charging news mean for blink? if they're going agnostic and building out chargers that are agnostic, as we say, meaning anybody, any car can go in there, how do you view that? >> it's more competition, it's expected. it's been on our plans that, ultimately, that will occur with tesla's charging structure similar standards as it is in europe today. we expect, ultimately, that was going to happen. we have a little bit of a different model than tesla. they service their vehicles, we service all vehicles. we have hardware solutions for every single type of location focusing on all the vehicles that are out there, not just the

significant models. but we expect competition. ultimately, there are going to be a lot more cars on the road which needs charging infrastructure, and not everyone's going to use tesla's charging infrastructure. liz: you saw some pretty significant use. as i understand it, you deployed or sold, what, more than 7500 charging stations in the fourth quarter, that's an 86 percent year-over-year increase. what's really driving the demand? is it not just tesla, certainly, but other cars? who's out there churning out -- >> everybody. everybody. i mean, we have amazing product from hyundai and kia, ford, general motors, audi, bmw, mercedes. every single car company is manufacturing evs now, and they're offering a lot of their different models both plug-in, hybrid and even internal combustion. as people experience evs and understand the benefits of evs, they're going to ultimately choose evs when they buy their cars. these car companies are going to have to switch over whether they like it or not.

legislatively on a global basis, the world has decided that'll be better for the environment to use electricity to power up our transportation. and that's really what's driving a will the hot of the growth in our business. there are a lot more cars on the road. we saw from last year to this year on a global basis went from 6% evs now to 10%. liz: yeah. >> and by 2035, 2040, it's going to be almost impossible to i buy an internal combustion engine car. liz: i did not know there are about 223 dealerships that sell mitsubishi, and you got that contract too. >> correct. we've gotten a really lot of traction in the oem space. we're getting a tremendous amount of validation, and it's amazing when you have your real estate partners and these large national companies that own properties. it's a whole different ball game when you have oems that are selecting your hardware to be represented at their dealership level both to service the vehicles, to provide them fuel

for delivery as well as customer-facing. our hardware's being compared to all the others and, ultimately, they're benchmarking each unit against each other, and we're being selected above our competition. and there's a couple of amazing reasons, because we build a much better box. our focus was to build equipment to last. it's a whole different model and way of doing business. our competitors look at a charging station, and they want you to upgrade it. they want something that's going to have obsolescence built into it. we plan on making a lot of our money through the sale of electricity, which means we need those charging stations to be in the field as long as possible. so we invest a little bit more money in the hardware. it doesn't cost us as much, and as you can see from our numbers last year, we have some of the highest gross margins in the entire space, and that's because we're vertically integrated -- what's that? liz: i just want to ask about the current quarter then, will

it outace the growth that you saw in the fourth indicate? -- outpace? >> we are seeing tremendous growth across the board. as you can see from our numbers over the last little while, we've beaten quarter by quarter by quarter, and we expect that to continue. liz: okay. i want to quickly ask you about the u.s. postal service deal you've made, another partnership. is so these postal trucks, i imagine they're going do deploy a lot of evs, ask is you will be the charging partner for them. what's that going to do for your business? >> yes. it is the largest order that we've received to date. when when you're looking at the total possibilities of roughly 41,000 charging stations over the next few years, right now the first order is for 4900 units, but that's just the first order. we're seeing amazing growth. but, again, it's a validation from governments that that believe in blink's, you know, hardware and services, network capabilities, and they're seeing all the services we offer that really fit with what they need.

and, again, these are -- one by one, we're getting these transactions and building customers. and they're really happy in seeing the hardware they're using, how well it work, reliable it is. and again, it's consistent with what's been going on in the industry. this business is growing whether we do it or not. liz: well, absolutely. >> yes. liz: but why is the stock not coming along with that? >> okay. so most people don't realize that blink is one of the most heavily shorted stocks in the entire u.s. markets. if you look at our daily shorting volume, you can pick this up. 70 of all sales of our shares -- 70% -- are short sales. yesterday or the day before, 66%, 50%. these are extreme amounts of short selling of our stock. liz: yeah. >> we have unreported naked short selling that we've uncovered in the last little while, and that's just the

start. we're really getting to the bottom line of what what's begut there's short sellers that don't care what's going on with american business. and this is a green business. they really should find someone else to mess with, because we're not going to walk away. we're going to do what we have to do -- [inaudible] liz: this sounds like -- >> this is people who short sell stocks. liz: this sounds like a deeper story that we need to go into. listen, elon knows from short sellers. >> exactly. liz: i remember being in fremont, california, in 2014 and he said they just want to destroy us. >> correct. liz: of course, they're still kicking. michael, please come back -- >> yes, and we plan on staying around and the one thing that, to counter the shorts is doing one thing, building the business quarter9 by quarter, showing the numbers, deploying more charging stations, creating more relationships like those with the u.s. postal service, and that's exactly what we're going to do. liz: michael farkas of blink, thank you. that was very interesting. >> thank you forking having me

again. liz: okay, we're going to watch that. no fun at funco as investors are losing their heads over the pop culture collectible and bobblehead maker's quarterly report. straight ahead in pop stocks, we've got to get you that story. and later, a former google executive is combining big tech and ag products to help south american farmers produce crops that are naturally resistant to the bugs out there and so much more. david freeberg is here with the b -- leboro company. closing bell, 36 minutes away. we are blasting through the ceiling here, folks, 325 points for the dow, s&p gaining 25, the nasdaq up 62. we're coming right back. ♪ what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq,

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liz: turn your attention to the dow. and i told you that the dow had been in the green all day. low of the session was a gain of 4 points. when we got started, high of the session was 319, now we're up 330. 344 is the high of the session. big move here. a lot of this, if you're just joining us, has to do with the fact that the atlanta fed president, rafael bostick, came out and noted a word of caution saying we have to be careful with future rate hikes to make sure we don't overdo it. in so many words, he said that. funco is in a funk after of the pop culture collectibles giant

more than tripled its per-share loss than attempted by analysts, down 6.7% right now. the company said it is dealing with margin pressures and bloated inventories. who wouldn't want that pain? oh, look at that. it's got the glasses, it's got the goatee. separately, they named steve knave new chief financial officer and coo who served at wal-mart.com in the same role. micron technologies is not looking so chipper after the semiconductor maker cfo gave a bleak outlook for the coming quarter. stock is down just under 2%. the company says demand for chips used in desktop computers and smartphones has worsened because of the global economic slowdown and higher customer inventory. so we've gone from supply chain shortages and snafus to too much of this stuff. micron also said it would reduce its head count by 15% this year. from chips in tech to the chips you munch on.

utz brand, yes, potato chip company, jumping 7% after the snackmaker topped earnings expectations. the merrick of all kinds of flavors of -- maker of all kinds of chips said an increase in prices was partially offset by volume declines of 2%, they also forecast full-year sales above wall street estimates. hormel foods getting spammed after operating issues in china hurt its international profit in the latest quarter. stock down 4%. the maker of canned meat and planters peanuts cut its annual profit forecast on supply chain disruptions and falling demand for its snack nuts category. well or, i've been doing my part. i'm full blown into the mixed nuts thing, okay? the company also said improved labor in its plants led to excess -- [laughter] now we have excess inventory where the shelves were empty just a year ago. from the maker of spam to what spam is actually made of, livestock farmers claiming the

epa is about to go hog wild with more rules that would cost them big bucks, they say. we are headed for a pig farm in the land of lincoln for the story right there this on the ground. it's a live picture of our hogs. and we'll talk to the leaders of the newly-public ag tech company lavoro, hoping to help farmers in emerging markets increase productivity. former google executive david friedberg is here live with the ceo of the company one day after going public on the nasdaq via spac. closing bell, 28 minutes away. now look at the dow, up 353 points. we are now above 33,000. stay tuned, we are coming right back. but we leave and go into this commercial break at session highs. ♪ ♪ when covid hit, we had some challenges. i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us.

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is a one-week picture, tyson's one of the largest meat producers in the united states. its stock is down 4% over the last week and could take another hit as the environmental protection agency looks into whether to add more regulations to the ones large livestock farms already follow. aaccuseing farmers of polluting nearby water sources, so the epa will investigate how farms mitigate pollution from their processes and decide whether more are needed. jeff flock joins us live from a hog farm in polo, illinois, with a farmer who's worried, i guess, the new rules might put him out of business entirely, jeff? >> reporter: that that's what the worry is, you know in it's not just the pigs squealing out here. ing the hog farmers themselves are squealing about this regulation. i mean, you're heavily regulated already, right in. >> certainly. we're covered under the clean water act as well as regulated by various agencies both on the state and federal level. >> reporter: yeah. liz says quoting the

environmental group that's suing the epa over in that you're polluting the water. are you in. >> we cannot discharge. no, we live here, jeff. why would we pollute the water? manure is a valuable nutrient, and we handle it with care. there is no need to add layers of regulation. all they will do is drive costs up and have no measurable impact on the environment. >> reporter: i was going to say, as we look around here, you know, news flash, pigs will go to the bathroom. but this is valuable stuff. back through these holes here, liz, i don't know if you can see, that's where the that neuro-- manure winds up. that's value to you, and you put it on your crops. >> absolutely. the crops feed the pigs and the pigs feed the crop. ultimate sustainability. >> reporter: yeah. liz, maybe you see -- [laughter] rump roast? i don't know -- >> pork chops. liz: now i feel bad.

>> but the message is, jeff, farmers are the original caretakers of the land. regulatory burdens just increase costs that we can't pass along and, ultimately, force people out of business. >> reporter: farmers heard from, the squealing continues here. on brian duncan's family farm in polo, illinois. liz: well, regulations, they can be a killer, jeff, definitely. and thank you for bringing us that story. >> reporter: but you know what, liz? if let me show you one thing. i forgot to show you one thing. this is the regulations already. this is what they follow -- liz: exactly, thank you. >> reporter: -- from the federal and the state. it's a lot already. liz: oh, my goodness. yeah. let's help people keep their farms open, right? so while increasing regulations are a very big concern for farmers, there may be a more destructive one this year. we are just two days into march, and already agricultural secretaries in pennsylvania, new jersey, virginia and even outside the u.s. and canada have

sounded the alarm about the lantern fly. this is a very invasive species that decimated u.s. crop cans and trees last year and could cause even bigger damage this year. but there's a company that just went public via spac that's helping protect farmers from pests, and they're doing it as naturally as possible. lavoro, which is essentially a consultant and marketplace for american farmers and their seed and fertilizer needs, went public on the nasdaq yesterday under the ticker symbol lvro. the stock is currently down 8%. again, this was a spac, so it's a reverse merger. joining me now is the man behind the spac, david friedberg, and la sore propro's ceo both here in a fox business exclusive. walk us through, if you could, exactly what your business model is, because i think the part the viewers may wrap their minds around most easily is the natural aspect of it and how the fertilizer that you offer, what it's actually made of to repel

these pests. >> yeah. so, first of all, lavoro is a company that is dedicated to help farmers to be more productive. and we do this in several ways. the first thing is being the consultant and the reliable, trust advisor to farmers. and then we offer a very complete portfolio that includes also biological products. so biological products in the case of la very prorow, we substitute or sometimes complement the pesticides and the a agris-chemicals. we do so by replacing or complementing the -- so by doing this we have a positive impact both in sustainability and also in the crop yield. so, basically, we help them be more infrastructurive, offering the right products -- productive, offering the right products at the right time. liz: we just saw, david, this pig farm. and part of the problem is issues that get into the water, etc. what does a company like lavoro do that can actually mitigate

things like that? >> yeah. it's a massive impact opportunity, because latin america is the largest ag-growing region in the world, the largest a ag export market, and it is the fastest growing ag input market in the world. so if you can shift and make a transition happen on the farm away from synthetic chemistry towards biologics and help farmers be more productive with other technologies, that's really the partnership that we were interested in aligning on. we can help bring new technologies to market in this largest, most important ag market in the world through system of the relationships and investments that we have in and companies that we know well. and so that's why we're so excited. the impact is very substantial. liz: this is, to me, very interesting. i remember a couple of years ago when there were all kinds of tariffs that were slapped on china. all kinds of tariffs have been slapped on russia since its invasion of ukraine, and they were the breadbasket. everyone turned to latin america, in many cases, for what we couldn't already make here. so latin america is, indeed,

this big foodmaker for the world. tell me exactly what your people on the ground do. you've got thousands and thousands of them. >> yeah. so we have 900 sales guys going on the field every day to talk to farmers -- liz: i'm sorry, thousands of farmers. >> yeah, like, 60,000 clients and now we have 900 trained agronomists who go and actually make recommendations to the farmers to be more productive. and there's a lot of opportunity to grow productivity in latin america just because the whole natural condition is there, and there's relevant technology gap that retailers like lavoro, we can help farmers to close this gap by offering the right products. liz: david, right now congress is working on a big, massive farmer funding legislation, piece of legislation. as you try to tie the latin american farming situation here to, i guess, you know, the

americas with this spac, tell me what your ultimate hope is, your ultimate goal and certainly for shareholders who are considering buying the stock. >> he's being a little humble. they're the number one ag retailer in brazil. liz: don't be humble, this is your moment. [laughter] >> they have reached tens of millions of acres of farmland. and, you know, when i visit the region and compare it to the work i've done in agriculture in the u.s., it feels to me like they're about 15 years behind the level of sophistication, so there's a lot of technology that's still not used, a lot of services still not used. so while it's the biggest, fastest growing and most important globally market, it still has a lot of headroom, and we have the market leader to accelerate technology the adoption in that region, make farming more sustainable and more productive. and globally, the big challenge we have is by 2050 we have to increase calorie supplies by about 50% than we produce today. liz: the world needs food. >> the world needs food and is wire out of land. so we have to increase

product -- and we're out of land. that's a big part of the message that lavoro brings to the market but is actually realizing through an incredible financial performance of that business. liz: well, it's the beginning. thank you very much. >> thanks for having us, liz. liz: a slew of crypto firms including coinbase and galaxy digital are jumping ship away from silvergate capital after the crypto bank delay canned its annual report. -- delayed its annual yule report. charlie has breaking news on fallen crypto exchange ftx. he's going to break that next. stay tuned, closing bell ringing in 14 minutes. dow jones industrials climbing even higher, up 363 points and, yes, we have green on the screen for the nasdaq, up 95 points. the s&p better by 33. ♪ ♪

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♪. liz: this is a developing story here. we need to look at this because it this has been a moving target, mostly moving down. shares of silver gate capital are tumbling 57% at this hour, the crypto bank said it would delay the release of annual report. clients are severing ties at a very rapid pace. silvergate has faced a myriad of

issues since collapse of one of its biggest clients ftx last november. charlie gasparino is here with the news. >> everything touched by the ftx collapse is collapsing as well. we should point out there are regulatory pressures on banks that do business with crypto. that is part of gary gensler's agenda and silvergate is a smallish bank. it might not have the where with all to deal with regulatory issues. that is some of what you're seeing here. we should point out there is some emerging decent news on all of this involving customer money. sources close to john ray and some of the people involved in untangling the ftx mess, i deal with them, pointed out to me today that about 400 million more dollars was found. liz: where? >> well, underneath the mattress. i don't know. liz: underneath the futon.

>> here is where you have to caution. there are six billion of eight billion missing. there are two billion left they need to recover. this is what they're cautioning me on, caution people that think they will get their money back tomorrow. number one, some of these assets are illiquid. in venture capital investments, doesn't necessarily translate to cash immediately. some in crypto. may have a value but no hose what it will be tomorrow. and also it is wrapped up in a bankruptcy process. when you put all of that together, whether you get the money back when, how much is still a -- liz: takes forever. >> but they are, remember they got, comewell working on it, weinberg working on it on the investment banking side, john ray obviously the new ceo, i believe they have a bankruptcy trustee. it's group effort. they are chipping away, looks like people will get stuff back at some point but how this thing, how you value a venture

capital investment is beyond me, i don't know. i don't know if it is not necessarily 100 cents on the dollar. people are asking why, why were they able to get more money back or immediately money back from bernie madoff and this is taking so long? we should point out, that is a question often asked, people didn't get the bernie madoff immediately. it took time. they had to claw back from people that he gave bonus, that he gave extra money to, like will pomss of the mets. ill-gotten gains had to be clawed back for years. took time. bernie madoff more or less cooperated. turned himself in. here are my offices. go ransack them, i will help you untangle them. that is part of the deal. that is not what is going on here. there are threo-founder.

>> she alameda. not as simple as bernie madoff. bernie madoff was a lot easier for a lot of reasons. by the way it still took a long time. liz: charlie -- >> we'll be talking about this for a long time. liz: silvergate picture is very ugly. >> that is whole another story. liz: lost 95% of its value from just, terrible. >> you didn't have -- liz: multi, a year-low passed through the 5.66. 5.78 right now. charlie, thank you. closing bell, four minutes away. what you see see on the screen e off session highs. if the s&p and nasdaq can hold on to these gains they will snap a two-day losing streak. the dow up 341 point. s&p gaining 30. nasdaq climbing 84. the medical technology sector could really use, an aed to

shock it back to life right now. just take a look. i-shares, u.s. medical devices etf, ihi, down 13%. spdr health care, xhe, that is also down 15%. first trust medical device etf, down 14%. sicker symbol mdev since this time last year. the sector may be down, our countdown closer said what we were talking about at the top of the show, right. now is the time if you want to get in on the cheap, it is poised for a massive revival. timothy chubb, 4.3 billion in assets unmanagement. you like the medical device-maker sector, right? you feel, i don't understand why it is down. isn't health care coming back? >> hi, liz, it has been sort of the battleground of the recalibration that we've had that happened so swiftly around the soft landing.

despite the sector, health care overall having highest hit rate of positive earnings surprises across all s&p 500 sectors. it has been the worst start for the year for health care ever. that has been partially a function of, lower estimates, especially from some big megapharma players out there but looking under the surface, there is a lot of really great tailwinds going on in medical tech. tools and diagnostic space we think the picks and shovels approach is better path to take as opposed to perhaps looking at some of these other health care companies trading close to their median multiples, historically. liz: well the multiples, that is the point. can you dig down just a bit into that, and explain to our viewers why you look at that, say, now is the time to get into these areas? >> sure. one of the things take a look at long term is, looking at some of these subsectors within health care, like life science tools. med tech side of things. try to understand, a, they have

got higher earnings growth and revenue growth. we've seen the s&p 500 be able to contribute but looking historically they're trading at 15% premium to the s&p 500. as of this morning it was closer to 8%. on the life science and tools side of things it is a sector that tends to trade around 28% premium to the s&p 500 multiple and now just trading at 13. a lot of these companies had to deal with headwinds from covid, that demand for some of their bioprocessing wasn't as needed, moving forward, however you look at some of these large players out there, like a pfizer, merck, the m&a activity that we've seen thus far this year, r&d pipelines are chock-full of opportunities for these companies toe, you know, benefit as the drugs go through, you know, their final steps of getting approval and all the way through the moving, even the software side of things, is attractive to us as well.

liz: timothy, 10 seconds here, what do you think the fed will do, raise, by how much? >> yeah. i think you know, likely see another quarter point. there has not been enough time to come tout to talk another half-point. one month doesn't make a trend. there is a lot of seasonal effects going on in january. 40% of american consumers received a pay raise. we're not too i guess, concerned about the trajectory at this point. we'll see a couple months go by where we're concerned. [closing bell rings] liz: timothy chubb, thank you. great to have you. strong day for the dow. guess what, for the s&p and nasdaq as well. dow closes up third time over four sessions. that wail do it for us. "kudlow" is next. ♪. larry: welcome to "kudlow," i'm larry kudlow. like most of you stayed up last night reading pr