considering the conservative price tag is $196 trillion to get to the promised land. that is a ton of money pouring into the investments. it's like a carnival trick, the government has his hand on the scale not a finger. it looks great at the moment, it just feels like the worst kind of gold rush, one based on ideology, not numbers but where facts are contradictory, meanwhile not only is china building a call f fire power plt every week it leads a nuclear power by far. it is guaranteed global dominance because you need energy to have a dominant economy. i hope will make it to the green utopia were not left with empty pockets in china eating her lunch. i'm trying to be optimistic, you know me. charles: it is a check all the boxes until we can transition properly. charles: absolutely. >> thank you so much, buckled up this could be a wild final hour

of trade. i want to mark the numbers, this could be everything as a fast moving target. the dow jones industrial down 333 but at one point we were down 500 plus points, the s&p lower by 31, the nasdaq is losing 104. it is the russell eating slammed the hardest as far as percentages are concerned down 1.5% as small and mid caps get clocked. all 11 s&p sectors are in the red energy is getting clobbered down more than 2% followed by consumer discretionary and materials and financials are pretty ugly to. the least worst of the gang the consumer staples, real estate, healthcare, utilities and technology, why a broad-based selloff, somebody waves swamping the markets down but arguably the one with the most muscle are the two fresh pieces of job stated they came in so strong

they're scaring the be jesus out of the bulls and normally this would be good, june adp precursor to the jobs report show private-sector job growth unexpectedly surged 497,000 jobs were added in june, more than double the estimates that was quickly followed by the employment component of the ism nonmanufacturing service pmi which came in nearly four points higher than the previous month, strong data dashing investors hope that the fed has implemented to tempt out inflation would come to an end and to douse any surviving signs of hope, the dallas fed president lori logan speaking in new york basically said stubborn above inflation and stronger-than-expected labor market call for tomorrow rate hikes of 25 basis points a piece this year. yesterday on "the claman countdown" to wall street. under billionaires, david

rubenstein and blackrock larry fink predicted that and in this case more. >> 25 this july and reserving another 25 at some point in the fall in case they feel they need it. right now they're telegraphing that they will probably need that. >> the federal reserve will have to do minimum to but as much as for. >> for more 25 basis points. >> another 100 basis points. i believe inflation is stickier and more structural. liz: that's what lori logan and of course jay powell has said, not only is the market pricing in a 92% chance of a 25 basis point hike in two weeks. more than 40% of the market is betting rates finish out at least five and a half to five and three quarters percent. what will all of this mean for stock and bond investors, to the floor show and star trainers teddy weisberg and scott rather.

the two year yield is rocketing to the highest level in 16 years. it's 5.019% right now. what message does that send to investors? >> i think the adp numbers today and now we have to see you tomorrow with employment numbers but it reinforces what the fed has been telling us at tumor rate hikes and possibly more. i think they are going higher and who knows how long it's going to go one. everybody's trying to gain what the fed is doing but the reality the economy remains strong and employment numbers support that in the federal government continues to spend money like a drunken sailor so you have the government spending money on the one side and the fed trying to deal with inflation and raising interest rates on the other, they are locking horns and going opposite directions. i don't know how long the cycle last but clearly interest rates are going higher and at some point not very good for equ

equities. liz: not good for equities but equities today have climbed the wall of worry. i'm looking at the shorter part of the yield curve the two-year is at 5% plus and we have one year at 5.45%, six-month at 5.5% and so on. do you still park your money in treasuries right now? >> absolutely quite frankly if you remotely risk is still the best trade, why assume risk when you can get five and half% in government paper and virtually no risk and wait for the dust to settle. in my opinion it's been a no-brainer for the last 13 or 14 months and it continues to be the trade. liz: scott radler is into risk, he runs marathons and he does all kinds of crazy athletics but when it comes to his stock screens, you have said and this

is way more risky on the curve when you talk about risk versus actual protection, you said on "the claman countdown" that you would look at bitcoin and coinbase in particular. yesterday we had larry fink of blackrock and they applied for an etf a spot bitcoin etf they are in a long line of fund managers that tried to do this, the others have been rejected and blackrock is still waiting but here's what larry fink said that push bitcoin to a one-year high. >> i do believe the role of crypto is digitizing gold in many ways. instead of investing gold as a hedge against inflation, a hedge against the onerous problems of one country or the devaluation of your currency, whatever currency you are in, let's be

clear, bitcoin is an international asset. liz: the interview went viral, what do you think it did spike and it pulled back 30309 but we were well above 31000. >> i agree with larry i think is a phenomenal investor in houston so much for usa i'm not going to get into it and i think digitizing gold would be like getting the spot etf or bitcoin i think there's a lot of investors and even senior citizens that would like to have some exposure to bitcoin but they don't feel comfortable in exchange, they don't feel comfortable at coinbase but if they were able to buy an etf that blackrock has at least they would feel safe enough to wake up with an exchange going to 0. a lot of individuals are against etf's for gold back in the day because back in the day only when it was physical and then etf's were created so everyone

could investing gold and some people do as a portion in the asset plan like five or 10% for gold. i think there's a place for bitcoin to be an asset plan 5 - 10% for those who want exposure and i think it's a hedge against everything that larry said i'm not good to repeat i don't have that much time if you trade actively on month or two ago we talked about the technical side of it could see 31000 and just all 31000. technically if it can hold 27000 issue. i think there is room for 37 - 40000 by year end. liz: i'm not going to get into crypto i know how you feel let's get into equities if people are so eager to put some money to work is there a safe equity sector that you can look at. >> there is a couple of names that we like we like the new canadian pacific, kansas city combination for rail and we like

cvs for healthcare and we like chubb for insurance and we like the insurance sector because they benefit from an environment of higher interest rates. the real stocks are very unique and specialized in the healthcare is always a good place to put money. those three names represent relative value and if you twisted my arm and said teddy i want to put somebody to work that's probably where i would go to start. liz: this from the guy who bought meta before started running up. let me get you on equities i know you're a technical guy and you kind of eliminate the emotion in the headlines that go with the gyrations of the names but this is a market where as we started to plummet earlier today and the dow is down 517 and s&p had been lower by 61 and nasdaq was down to 24.

the european markets took their cue and tanked. downward and 3% the footsie and the dacs in germany and ugly day in europe and i'm guessing this is a headline driven market how does a trader or somebody wants to eliminate the motion trade? >> first you have to figure out what it can handle and see where the market is and what sector and we had a big gap on friday heading into the july 4 weekend. usually a great time they push the market ahead of the holiday and make everyone feel good so we can have a hot dog eating contest and typically a little bit of a low so you have to be a little careful to find your risk. at this point the dacs is 5.5% of the highs in europe. i'm not saying that we follow the dacs or europe but everyone's talking how we haven't had a three or 5% decline in a period of time but a day like today where they

trapped lawns with a false sense of security and holding the gap the past three days i. down some risk because i was a little complacent thinking we we're going to hold the gap and continue to 4500 or more in today's hot numbers got me out of a risk. i like to see the stocks that were reliable for the last six months go to our weakness like apple was the first to go green after a three-day pullback in microsoft is strong and meta is decent and you have high tech hanging in there they of the balance and security rates higher for longer and right now you have to be careful with the banks and the regionals because this is when the regional banks started having problems. liz: i'm looking apple it's reversed turned down from up just barely from a fraction of 8% but still above the 3 trillion-dollar level. 3 trillion-dollar market cap,

unbelievable. scott and teddy good to see you the new york stock exchange for chi well. electricity demand in texas hitting a record amid triple digit temperatures but fears over the stability of the entire nation's power grid has investors flocking to a one stock in particular generac the maker of home generators has surged 40% over the past three months, ceo on sizzling demand for his product. the closing bell 49 minutes away, "the claman countdown" is coming right back dow jones industrials is at 338 points. ♪ i'm saving with liberty mutual, mom. they customize your car insurance so you only pay for what you need. you could save $700 dollars

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liz: he records are topically like dominoes. we touched on this yesterday but tuesday set an unofficial record for the hottest day on the planet which was quickly matched yesterday. according to the university of maine's climate re-analyzer yesterday the average global temperature hit 62.9 degrees, this is the global average for the second straight day that is the highest global temperature recorded since scientist began recording these numbers and most of the u.s. is way hotter than that. 35 million people in the u.s. are enduring dangerous heat levels at this hour as many americans brace for the upcoming hurricane season. shares of generac which makes

residential generators spike 30% year-to-date and his questions swirl whether the grid can hold up let's bring in generac ceo aaron jagdfeld. it is 103 and death valley right now, you would expect that, death valley but it's close to 100 in rochester, new york, mid-june texas towns topped 106 degrees, what sales have you seen since he would begin? >> thank you for having us on. obviously when you get extended extreme temperatures like we are experiencing right now that goes cold and hot but he waves like this put a lot of stress on the grid and a lot that's been written about as the grid involves were trying to balance decarbonization of all the sources using wind and solar which is great but intermittent sources and were increasing demand as we add and electrify everything like transportation

and what it is doing is putting a unique stress on the grid when you have the extreme temperatures. people are smart and they figure out quickly there are risks whether home or business they feel they have to have a backup plan and return to products that we manufacture. liz: what is the best seller and what is the price of the bestseller? >> our best-selling product is a 24-kilowatt home stand by generator permanently outside of your home runoff of natural gas were propane hardwired into the electrical system and start when the utility is lost and turn off automatically when utility is stored fully installed 10 - $12000. it's an expensive product but a home improvement project so it does add value to your home. liz: what can you deduce by looking at your sales for people confidence in the national grid. >> i think the data speaks for

itself we've been expressing more outages over the last 20 years, more frequency of outages and the duration of those lasting longer and most americans in the u.s. experience a couple hours of outage on average a year that went to four hours now it's up to eight hours a year that we sit in the dark for every homeowner and consumer in america. her business has been growing like a weed over the 20 year period as people search for ways to build their own resiliency to protect their homes and families and businesses. liz: as if we can be hit with more we have hurricane season coming up i believe in late august or early september. we expect, according to colorado state university 18 storms nine of which could become hurr hurricanes. are you revising your fiscal year sales outlooks ahead of something like that or you would business that says we need to see the stake not just the

sizzle we don't do stuff ahead of what could be hurricane. >> we obviously watch those things, colorado state has been producing hurricane forecast and the latest forecast came out today and their calling for a more active season when previous forecast were calling for less active. we take those things into consideration when we plan our business but in all honesty offering guidance into the street we like to play in the business for the street purposes without the major events because you don't know when or where they're going to happen to what level of intensity they may happen but we have to be ready as a business obviously so we plan internally but not externally. liz: let's not ignore the solar mere farms in the room. i say that because your stock is down 36% over the past year and some is due to concerns like ev or the ford lightning can juice people's houses if they lose

power and people wonder can solar batteries which are becoming residential project tesla solar city, et cetera that they could replace the individual generators that you make, how do you plan for something like that? >> obviously we watch tech technology. it's a great question we acquired a number of companies over the last for five years to put us in the space so we offer residential storage device similar through tesla or others in the industry and today is primarily a product that gets paired with solar. if you made the investment of solar on your rooftop you might want a battery to offer a level of resiliency but the reality battery technology while it is improving the performance is not there yet you probably get 8 - 10 hours a backup if you manage the loads in your home and you might get longer than that. if you go with an electric vehicle. f150 lightning like you

mentioned that the large battery pack sitting in your garage but being able to harness the battery pack the technology and cost to do that is pretty high. it's a big ticket item today and again, trading mobility for resiliency. we think has people get more electric vehicles and their garages they will want a product like a generator or something that can handle long-duration outage because her worried about transportation whether getting to and from work were evacuating their home if they need to during a severe event we think they need to backup the ev as part of your electrical ecosystem will require a long-duration outage product like a generator. liz: a lot of people don't know hurricane ian 2.7 million people lost power in florida last year end on top of the gasoline. you guys are natural gas generated.

gasoline became a problem in hurricane sandy because to extracted from the gas station you need an electrical source and here in new york we lost all of that after hurricane sandy. nat gas, we need generac, the son and harness all of it. it's good to see you. >> good to see you, thank you for having me on. aaron jagdfeld of generac. can mark zuckerberg thread the needle when it comes to the twitter look-alike, the threads app is building users at a rapid clip has twitter owner elon musk rolls out a new slew of controversial changes on his own platform, closing bell 37 minutes away down industrial down 343, the nasdaq getting clipped by about 110-point we have a live report on the meta twitter bottlenecks. ♪ ♪

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liz: with the markets falling i want to look at the vicks it's up 8% it was way higher earlier well above 16 it's at 15.32, genius sports investors are looking mighty smart shares are advancing 27.8% after the company announced its extended its exclusive partnership with the nfl for five more seasons, locking in, genius will be the only sports betting for the nfl

official live game data which allows for very targeted betting the deal allows genius for nfl data and logos in the advertising services. investors are pretty sweet on sweet green bank of america updated the stock from neutral to a buy and raised its price target from $9 to 17, it's gaining on the price up 15.5% to $15 and change the bank attributes to the growing foot traffic and the plans for automation, shares of an eight-month high and the stock up 65% this year. we should take the time to check in on competitor of the mediterranean quick service chain. at the open it was down for a second now they are up for an half% to $39.77. it debuted on the new york stock exchange june 15 soaring 99% on the first day of trade.

since then shares are down i . to percent but well above $22 a share, speaking of debut, did you see this madison square garden entertainment adding glow and sparkle to sin city the msv geosphere was eliminated for prelaunch testing to celebrate america's independence day the world's largest led screen and structure lit up the night. this is really cool should i talk more slowly it lit up with a multitude of displays including the american flag, all kinds of stars and explosions of fireworks. an eyeball, a basketball. earth itself, there is the american flag, that is beautiful that is so cool. 18000 seat arena will open this fall with a series of concerts by youtube, the stock is down a third of 8% kathy wood is taking sides between meta ceo marks a

berg and elon musk. the ark investment selling close to $8 million worth of shares of tesla while simultaneously buying 1.6 million worth of shares and meta as meta rolled out the twitter rival thread the app has been dubbed the twitter killer in the early numbers appear to show that could be a possibility, mark zuckerberg just announced the twitter of rival has logged 30 million users some say up to 40 million but that is not confirmed. that many signed up and 18 hours of the launch. over 2 million in the first two hours. but eight minutes ago that it can. a fox business that twitter is threatening to sue meta. what does brad offer the elon musk and twitter's lawyers unraveling, kelly o'grady she is a breaking news, what are they

claiming. >> they are claiming that meta is copying proprietary information from twitter. i want to share a letter from the twitter council. it says meta has hired dozens of former twitter employees, meta deliberately assigned these employees to develop in a matter of months the copycat threads app with specific intent to use twitter's trade secret and other intellectual property. we've not received comment from better yet but threads is very similar to twitter with the look and feel character limit is 500 versus 280 on twitter but linked to your instagram account when i tested it out i was able to keep the same username and follow the same folks on the platform with one click and that's why analysts are calling this a twitter killer because it could leverage the strong advertising relationship in the robust user base. remember instagram has over 2 billion users each month.

mark zuckerberg shared he won't monetize until it reaches a billion sign-ups but 30 million is not a bad start and for context twitter had close to 400 million as of december, the launch is timely as twitter is facing a number of challenges under elon musk and backlash very frustrated that they have to pay for the blue checks in the platform is limiting the number of tweets users can read. elon musk is getting into the fight and a subtle jab at the threads launch he tweeted this is preferable to be attacked by strangers on twitter then indulge in the false happiness of hide the pain instagram it sets up the clash of the billionaires and this will be a fight of scale resources and perhaps legal proceedings. liz: not breaking in the last nine or ten minutes, thank you for being on the story. kelly o'grady the twitter were sliding up after blackrock ceo larry fink with the shot heard

around the crypto world and far beyond charlie gasparino will bring us all the buzz as fink calls crypto digital gold and international asset. as long as we have known very closely money manager bob dole he's been pretty optimistic and quite measured but now he has a very serious message about the markets. and the economy. he's going to tell us how to play defense. he things it is time. that is next. we are coming right back. this is your summer to smile. to raise your glass and reconnect. to reel in the fun and serve up great times. to help you get ready your aspen dental team is celebrating 25 years of affordable care

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>> the data that we have does not show a recession anytime in the near future but you cannot predict in a year or two advanced. liz: billionaire and cofounder of the carlyle group david rubenstein kelly "the claman countdown" he believes the u.s. economy will dodge every session

for now but famed guru bob dall now disagrees. you see the big run ups that we have had this year for the dow up to and a third%, look at the s&p up 15% and then the nasdaq the real winner up 30% since the start of the year, he is now telling his clients that investors must get in a defensive crouch, first bob dole joins us live on how he is advising people to do just that. what is it that you see that prompted the shift? >> i don't know it's a whole lot new we've been fighting this for too long we have an inverted yield curve, money supply is shrinking and corporate profits peaked a few quarters ago angst are tightening the lending standards and the fed raised rates 500 basis points there threatening to do more, liquidity conditions are not great stocks are not cheap, the lineup tells me have a little

caution. the average stock has not done much at all it's been the mega cap general. liz: you heard david rubenstein and he believes the data has shown and we have two more strong pieces today that we could see a soft landing where we squirm away from two quarters of contraction which is the actual definition of the problem where we have a recession. do you still see jd p may shrink negative. >> i think the fed is in a smaller and smaller box. the numbers we got, the strong labor report the service pmi, they point to as you argue reasonably strong economy they have more work to do and this is the fourth time they raised their expectation about the terminal rate. my guess they'll do it tomorrow

maybe for more and i'm not sure the economy is prepared for all of that. liz: you are with larry fink who was on here yesterday that said after four more. how do you has an investor in somebody advising people with a chunk of money to get in the defensive crouch? >> it does not mean you should be out of stocks just what kind of stocks are you going to own. i would argue hi earnings, predictability, reasonably good growth persistence, high-quality which gets measured a lot of different ways you don't want to be on a limb should some of the negatives like today strike. liz: such as what one would think with higher interest rates financials would do well because they get to charge more and piling into the big bank money market, financial is selling off they've not distinguished themselves in many cases. so where if not financials or maybe financials? >> i will give you a financial,

financial services visa or mastercard they continue to have good unit growth and they gain shares overseas. they're not particularly cheap stocks but they're not ridiculously expensive given fairly wealthy program with low double digit earnings growth. the three stocks i picked today when the dow was down 500 they were all down less than 1%, it shows there a little more defensive. i think you have to own hmo great stocks/dear, horrible stocks this year, technically they do not look great so this is longer-term pick which one you like i own several and i would argue 10% earnings growth, a little slower this year for ten times earnings and kimberly-clark we're going to use those products through thick and thin, this company continues to crank it out and cut the cost in restructuring to stay with

the times. liz: when you look at stocks people come up and say how about and then they throw out like an individual name like nvidia's had a huge run up. i'm not assigning every investing behavior to jumping on the bandwagon that 32 thirds of the way to the destination. when you look at the tech stocks you know people will continue to need electronics and by cell phones and of course everything that goes in there are the semiconductors. you like anything in the tech space? >> i own less than the market ways. that's not helped relative to how well it's done and a lot of stocks in the category and semiconductors, i agree also qualcomm and materials, wherein technology as well just trying to own those that are not crazy

prices. liz: i like your thinking when you say there down the least kimberly-clark and cigna and visa, kimberly-clark just turned positive on your recommendation. it was down to pennies and now kimberly-clark is up 1 penny. nice move, the jobs report tomorrow, any prediction here? >> not particularly, adp was off the charts and will that replicate tomorrow, i have my doubts but the stronger is the more work the fed has to do and that is trying to thread the needle and avoid the recession while the same time fight inflation. we know the last nine times that they tried that, twice successful in seven times we had a recession. liz: interesting, the expectation tomorrow to enter 25000 adp was in the 200,000 and it came in close to 500 jobs added. it's great to see you. bob iger more than a quarter of

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♪. liz: so it's not so much where bitcoin is right now. it's where it was about, i want to say 15, 17 hours ago? after hitting a 52-week high following "the claman countdown" interview we had with blackrock ceo larry fink who called the digital currency an international asset that sparked very bullish sentiment, golden bull hoofs. they began stampeding, boom, you had it hitting one-year high. crypto community absolutely went nuts, charlie. we made big headlines. >> not just this. we made big headlines on film per of issues. we'll get to that in a minute. one of the big spots we think, where it became huge news both on wall street and the crypto community, when we asked him,

you asked him about bitcoin the etf. liz: spot price. >> spot price. i said he started riffing about how this could be something of the future and it is a store of wealth. and i said, whoa, i stopped him. this is kind of a big turnaround for you. liz: exactly. >> larry you were not quite a hater like buffett and charlie monger but you were kind of negative. he admitted he is, he was but he is not anymore. that sort of 180ish sort of not quite a 180, maybe a 130? liz: he didn't love it. >> he didn't love it. that 130 what led to sort of the viral nature. we should point out fink's interview with us, trended on twitter several times because he made other news. four rate hikes for the fed basically said is possible. borne out by today's news on some of the proinflationary news in the market today. why the market is down, 300, almost 400 points. he made other news on esg.

we ribbed him a little bit. no, i don't want to use the term esg. i asked him if i could. you could but i can't. i asked him about esg. we had fun with that he made some interesting comments about the need for esg particularly, renewables are being used in texas right now. liz: environmental social governance investing. >> but some renewables are being used in texas. liz: kind of saving the situation. >> possibly saving the situation. >> you brought up something fascinating. i brought up, usually troublemaker, you put it back in the bottle sometimes, i brought up how about david solomon do you think he is doing a good job at goldman? what is going on at morgan stanley? let's hit this sot. this is where you chime in something i will report on exclusively right now. take it away. liz: okay. >> yes i think that history will show that was a mistake. >> right. >> we're trying to build a team and elevating one or two people doesn't mean other people were losers. we're trying to keep continuity,

making sure we have a management team that is ready to run in and become better than what i have done. liz: you wouldn't be that guy like iger who, i will come back, let me come back and save the day? >> that would be a disaster? liz: why? >> because i don't, you know what? i want the next team to be better than me. liz: see very few ceos, ceos say that -- then they act differently. >> right he is talking about bob iger right. as you know bob iger famously, we got into this talking about his succession plans, internal candidates, rob is one of them, his number two, talking about bob iger who famously back-stabbing bob chapek. iger essentially appointed chapek to be his successor. iger didn't like the guy he was doing. essentially lobbying the board, telling them he was doing a lousy job and come back and

replaced him. he is supposed to be there two years. larry doesn't like what weren't down at disney, without mentioning these two guys. get back to iger. what is going on with disney with succession? here is what we know. i can say sources told the fox business network that there is talk he could, that he is likely to remain after his contract current contract is over, that is december 2024. liz: he wants to extend. >> we understand. by the way the company is not denying it because i called them and asked them. we're getting this from senior people that know iger. now what is the problem with this? why are they doing this? because he is having a very difficult time finding a successor. they blow her out? fired her? got rid of cfo, that is a problem. adam silver, nba we reported on the show was one of the people in the running. was in the running. unclear whether he wants the job?

he came out threw cold water on it, but disney confirmed he was on the short list. one thing i tell you before i wrap, i will say this, this is sort of an axiom in corporate america and our viewers should appreciate it, yes these guys get paid a lot of money, sometimes ridiculous amounts of money they possibly don't deserve. there is only though a few people that are talented in this world that could be a ceo. it is a demanding 24/7 job. as much as we report about david solomon having issues, not a lot of people can do what he is doing, just remember that. same thing with bob iger that is why they're having a hard time finding them. liz: some say the stock performance under chapek better than what bob has done since he came back but a whole bunch of headlines coming. >> there is news out of disney. liz: always is. thank you very much, charlie gasparino. despite the selloff with the dow jones industrials down 364 points, red on the screen all the way, nasdaq down just under

1% our "countdown closer" says market momentum should be driven right now by cautious cash because people are taking that money and putting it into the market there is one sector in particular he favors. let's bring in david grim house, devon phelps investment anment. cautious cash investment coming into the markets, i like that, but where's it going? >> obviously we've seen kind of a big move in the first quarter, first half of the year. took us by surprise, certainly a lot of momentum than we've seen obviously a.i. driving it and i think you had a lot of fear missing out and a lot of cash on the sideline coming in. certainly history would tell you when the market has a big first half it should have a big second half. although admittedly i think we're a little cautious. i think some of the news we saw this morning, the fed's hands are probably tied. that may be enough of a negative

signal to slow the market down. liz: well, let as put up some of your stocks you feel that cautious cash should be directed toward. fit is mag advertising the cash, drawing some names, let's talk about the common thread you see in them. >> sure. we would like to see cash go a little bit more defensive. one area we really favor is global infrastructure stocks in the second half. if you're not familiar with global listed infrastructure stocks, utilities, transports, communication, energy infrastructure stocks. with the exception of some of the transports these stocks really underperformed in the market in the first half and we think they're good places to go. we start with utilities. that makes up 50% of the index. u.s. utilities had a terrible first half. in fact it was the worst relative first half in 35 years. there is underperformance was not fundamental driven. in fact it was just the

opposite. utilities are a big beneficiary of inflation reduction act and the energy than significance that is going on. like many of the globally listed infrastructure stocks utilities have steady earnings and attractive yields and should proven tieing if the market waivers at all or if that long-called for recession comes into being. liz: you like american tower, cheniere, sempra energy. david, it makes sense. really does. david grumhaus here comes the closing bell. [closing bell rings] we should tell you all three indices are on track to be negative for the week. we get the big june jobs report tomorrow morning. final hour of crucial, have a great night. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. all right, president biden officially