picture next to him because what's their senate record look like? here we are, the world's most deliberative body and, oh, we got lurch here with a pair of gym shorts. charles: it's really, really tough. overall, where do you feel we are, david? you follow this so closely. are things as bad as it feels that we're hearing about? just 20 seconds left, just tell us, is are there any open?? -- is there any hopesome. >> there's hope, but when americans are spending more money on food, clothing, middle class, $7100. maria: per year, we've not to did rid of the bidenomics. charles: david webb. now over to liz claman. liz: charles, thank you. we've got breaking news on so many levels of the spectrum here. markets, uaw strike, federal reserve, apple, china stocks. let's get to it because the markets had been bouncing back after a 3-day selloff, but now with about 59 minutes left to trade for the week, we do have some red re.

dow down 64, we've got the s&p giving up all of its earlier gains, now lower by 3 points. nasdaq's clinging to a- -- a 5-point gain where it had been up 129 points. kind of losing some steam. we've seen in the final hour where things can start getting juiced up once again. let's look right now at what ises propelling the nasdaq. it's actually china stocks. they are grabbing the top spots on the composite led by netease. look at that gain, up 5.25%. the the lift comes on a report by bloomberg that beijing is considering relaxing rules that cap foreign investment in public companies. so maybe they're starting to look like they're going to be a little bit more pro-pluck publicly-traded companies and not so restrictive. coming up, famed international investor mark mobius is going to join us live. he has warned viewers to dodge chinese stocks. will today's news change his mind? we're going to ask him.

he's coming up at 3:30 p.m. eastern time. no ree laxing or easing at the federal reserve at this hour after this week's pause in interest rate hikes. fed governor michelle bowman and san francisco fed president mary daley both making headlines over the past couple of hours, signaling the possibility of at least one more hike. daley saying this afternoon she's, quote, not ready to declare victory over inflation while the more hawkish bowman has warned more than one increase will, quote, probably be required. so right now the 2-year treasury yield which tracks fed policy the most closely is at 5.118%. and we are starting to see a deep coupling among the big three automakers when it comes to the strike. ford shares are trading considerably higher than both gm and stellantis. uaw president shawn fein saying today while the union will actually -- they've already done

it,s i think said they were going to do it at noon -- expand the strike adding 38 locations but that ford will not be one of them because the union is making progress in its talks with ford. ford shares up 2.5%. the oil and gasoline markets are also moving on news out of russia and also a tropical storm has just in the last half hour officially formed over the atlantic ocean. but let us turn to jeff flock who ises live in michigan. he's got more on breaking news on the uaw strike. he's at the ford assembly plant in wayne, michigan. looks like ford and its stock are benefiting from maybe getting closer to the uaw's demands. >> reporter: the workers are very excited that we've talked to out here at the michigan plant where the strike continues, by the way, but that's the only ford plant that's being struck now, and 38 others from gm and stellantis now with strikers outside picketing outside those locations. we've got pictures -- well, first of all, 38. put the numbers up, liz, it's 20

for stellantis, 18. parts distribution facilities though. not assembly plants. and we've got pictures outside a couple of these locations. one of them in centerville, michigan. now, these are parts distribution facilities. this does not affect the assembly of new vehicles. it is a place where parts for vehicles already on the road are stored. so that could have an impact at dealerships, and your car if the it breaks down. also going to show you live pictures in tapen, new york. as we said, these are all over the country, it's designed that way. but it's only about 5,000 workers, and so, you know, you look at what's it like inside one of these places? we've to got pictures too. these are pictures from inside one of the stellantis facilities it's where they store all the parts, thousands of parts. this risky strategy is it's very few workers. could management bring with people in and actually man those facilities in the place of the workers? gm not happy at all about what's happened though.

they say, and i quote 'em now, liz, the the uaw leadership is manipulating the bargaining process for their own personal agendas. we have contingency plans, they say, for various scenarios and are prepared to do what's best for our business, our customers and our dealers. and as i said, that could involve management coming in, mono-union people working. -- non-union people working. you know how that gets. we talked to shawn fein, the president of the uaw, about all that. he says, bring it on, because the days of the billionaire class making at a profits -- all the profits, they're over. listen. >> the companies own this. this is on their shoulders. everything that's happening right now is on their shoulders. they own it because they chose not to take care of the membership. >> reporter: and so there you go. it's the an expansion of a strike no matter how you want to look at it. but as a i said, only 5,000 more workers, and we'll see what kind of an impact this has. i should point out that these parts facilities, they are cash

cows for the awe to to makers. automakers. each of those parts costs a lot of money. some of them take in a million dollars a day. we're talking 38 facilities, so see how this goes. interesting strategy on the part of our friends at the uaw. liz: yeah. and, clearly, the uaw wants some of the melling coming from that cash cow, jeff. interrupt us if you see anything else -- [laughter] >> reporter: good point. liz: i keep checking the headlines here. i've got the wires on a computer specifically on this right now. as soon as we get more, we will let everybody know. a fox market alert, the major indices are on track, actually, for their worst weekly performance since march after the fed hinted at one more rate hike this year. now even though the bulls are putting their gears in reverse, mega-tech is still making an impressive showing at least during this session. so let me start with apple because it is the one of the top names on the leaderboard. earlier it was number one, right now it's in the third position. oh, it keeps toggling between second and third. right now it's second at the

moment, up about 1%. looks to close out the week let's call it $4 lower than wednesday's high of $179 and change. lines for its iphone 15 starting before dawn this morning in new york city and around the world have investors pretty happy about demand for the new phone. ceo tim cook, there you see him, he showed up to greet and take selfies with customers outside apple's new york flagship store on fifth avenue. shares a about 10% off the all-time highs. will mega-tech continue to lead, or is it now time for investors to do a little course correcting? let's get to the floor show. trader e keith fitz-gerald who owns apple and morning star wealth's chief investment officer martin norton who's starting to look beyond the so-call magnificent seven tech stocks. keith, you bought more yesterday? we still have time left, just under an hour. are you buying more today?

>> well, i tell you what, i'm pretty happy with what i purchase yesterday, but i'm not going to take that off the table. this is one of those companies and one of those times, liz, where you just look at yourself, you look at what you want to accomplish, and you look at what the market's willing to hand you. everybody pooh-poohed apple weeks ago because they thought demand would slack. we're seeing it today, preorders are sold out, i hope i'm smart enough to buy more, and i hope i have time after we get off the air to do it. liz: marta is turning a little bit. when you look at the nasdaq, of course it's on path for its worst week since march, but also year to date we know it has actually done quite brilliantly. we do have it year to date up about -- a lot. [laughter] my computer's stretching here. do you look at apple and the rest of the magnificent seven and say, you know, trees don't grow to the sky? >> you know, i think that's a

good way to put it. when we're taking a look at that magnificent seven collection of stocks it's not that they're not great companies. they are tremendously good companies. but i think the question that's top of mind is the price we're paying for those great companies. so we're going to look to get into areas around the economy when we think there's a little bit of a price opportunity and a disconnect between the great company and the great price. right now we actually think there are opportunities in the u.s. equity market, but we're not messily concentrating those opportunities -- necessarily concentrating in tech. we think there are other areas of the market that, unfortunately, have some kind of clouds hanging over them. liz: like what? we know that energy has start to rear its head once again because west texas the intermediate prices have been popping pretty dramatically, so do you kind of triangulate into a certain region of the energy world? >> well, we are, we are in energy. so u.s., you know, the broad

energy complex, we're a little bit less enthused than we've been in emergency for quite some time. we're able to benefit from the appreciating crisis there, but now we're concentrating on mlps particularly. of course there's a nice, fat yield that boosts that forward-looking return potential, but there's also some modest growth that we're seeing there. some reasonable valuations. and there's a lot more capital in this space as well. so we think it's not a bad place to be. you're getting reasonable fundamentals and also reasonable valuations. that is one of the areas that we're in. liz: look at this, anywhere from a 6% dividend yield to 9%. 9%, western midstream partners, looking pretty good. keith, you're still actually buying some pretty interesting and potentially volatile names. not potentially, they have been volatile. talk about the ones that you picked up yesterday beyond apple. >> sure. so i went straight to palantir yesterday which is one of my longtime favorites. that company has got all kinds of things. excuse me, we've got -- i don't know if you can hear this, we've

got some f-18s just overhead our office. we've got -- can speaking of defense stocks, i think that company is absolutely beyond the hype, is so i think it's the one of these great companies in the making. it is volatile, it's the not for everybody. you've got to wait it out. i also went after some tesla yesterday and nvidia because those are key to our economy. we're creating data at a speed we've never seen in the history of humanity. so i want to own both of those names as well. liz: how do you know they're f-18s and not another jet? >> well, because, ark, we live right next to the growler base with where i see them every single day, and i know how to hear them by sound because i've been listening to them my whole life. liz: i just thought, wow, that's a pretty good skill. marta, high quality debt, we've had rick rick reider talk about that, jason katz over at ubs. is that starts to look more attractive than treasuries?

are treasuries still going to be effective as a hedge against the equity the volatility and risk that's really out there? >> yeah, that's a great question. so, you know, most of us are multi-asset investors. we have our equity stake, our fixed income stake, is and we're looking to that fixed income stake in many ways to be a hedge, sometimes a source of income, but certainly a hedge against volatility. now, there's anyone's guess on whether we really are in an era of higher for longer, but if we are, if we're in a period what higher for longer -- where higher for longer is kind of the normalized environment that we're operating in, our perspective is that long-dated debt is less effective as a hedge at least historically in that variant than people have been used to over the past decade. and short-dated debt is actually a decent place to be. so when we're thinking about short-dated debt, we are still thinking about treasuries, but we're also thinking about high quality corporate debt in that area. i think you can get a really nice deal in that area of the market, not take on massive interest payments which isn't an

insignificant concern given some of the kind of lingering considerations around fed policy. so i think that is a reasonable place to be in a fixed income market today. liz: you know and now, keith, we're looking at the dow, s&p and nasdaq back with in the green at the moment. is it time to kind of ignore the talking heads over at the fed? three of them today -- susan collins,my e chel bowman and mary daly all speaking today kind of saying the same thing, rates will stay higher for longer, one more hike, one more. >> do you even start with this? i wish they'd take the microphone away from everybody but chairman powell. all they do every time they open their mouth, liz, is introduce uncertainty. that's the one thing the market doesn't like. now, as an investor, yes, i submit you turn the volume right off when those guys start talking. you focus on the great companies, you focus on the products that we can't live without because that business case, the case for investing, does not change no matter what the fed thinks.

and i submit the fed has still lost the plot. they've already caused the next three crises, as far as i'm concerned. [laughter] liz: great to have you both, marta and keith fitz-gerald, so nice to see you, thank you. >> thank you. liz: tgif. we are almost at the end of a long week that,s yes, saw the the fed hint and then confirm today, certainly, another rate hike due to sticky inflation. food prices e included. how is tgi friday's dealing with stubbornly high prices? in his first interview since being named ceo, brandon coleman iii standing by live to give us his recipe for short success. we should check on top restaurant stocks as we go to the break. right now starbucks, chipotle, yum, mcdonald's all up. darden restaurants down slightly q.9.

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liz: well, for the first time in nearly 30 years mcdonald's is raising its franchise e fees. shares are actually up on this news by about three-quarters of a percent. here's what happened, a company memo view by barron's indicates mcdonald's will raise its royalty fees from the current 4% to 5% starting january 1st. the price hike will reportedly only affect new franchises, not the existing ones or locations where the new owner bought a franchise from a different operator. tgi friday's operateses franchises all over including 650 restaurants. there's a mix in there that they own directly, but a whole bunch

of franchisees here across 52 countries. with inflation still diving up costs, will other large companies follow mcdonald's and raise fees? joining us live many his first interview since starting his new role as ceo is brandon coleman iii. brandon, congratulations. you started, what, the last day of last month, so pretty new gig. >> yes. thank you so much, liz, appreciate it. liz: so mcdon's has yet -- mcdonald's has yet to cop firm this news -- confirm this news, but the first royalty fee hike in 30 years is a big deal. what's your franchise royalty fee? and do you have plans to raise it? >> we currently have a franchise royalty fee of about 4%, and we don't plan on raising it. what we plan on doing is driving the top line to generate more revenue in the business as a whole, and that also bleeds down into the bottom line for our franchisees to create a better business model.

liz: i think mcdonald's is expected to say they're doing it to remain competitive because the average royalty fee e is anywhere from 4-8%. but you're saying right here and now you have no plans to raise the franchise fees for tgi friday's. >> we're not planning on raising them anytime soon. liz: okay. >> that's correct. liz: why not? you don't feel you have to? >> we don't feel we have to. we believe there's a lot of upside in this business, we believe there's a lot we can gain from innovation, from focusing the brand on becoming that that bar and really regaining our history e of owning that bar. and so we believe there's a lot of upside for our franchise partners and for the business as a whole without having to raise fees. liz: let's talk about food inflation. it is still this certain parts of the spectrum of food inflation weighing on consumer prices. if you look at food away from home, and that would include you guys, in the most recent consumer price index, august, food away from home went up 6.5%

while food from the grocery store went up just about 3%. what are you seeing on the ground where you are? >> yeah, we saw a lot of this during the pandemic, a lot of inflation as a result of supply chain difficulties. and we're continuing to see some increase in food costs for us. beef is going up and will continue to go up through the next year is what we're seeing. but generally, we want to make sure that our guests have value, right? we're constantly share with other like restaurants whether it be casual dining, fast casual, qsr, and is we want to offer that value for our guests by creating variety and price points. so we're creating new items, smaller portions that allow the quest to check down, right? -- the guest to check down. still get an appetizer, still have that full restaurant experience that they're seeking for entertainment, for enjoyment. people are still going to eat. liz: you're not just a pretty face. i mean, they put you in charge

because you have a huge backdrop of experience. you worked at dell frisco's, you managed a dave and buster's, a whole bunch of other chains from both the high end and lower end. you've been very innovative, that's what you're known for when it comes to to both menus and technology. the technology in the restaurant world has just proliferated, has it not? how much of a spend do you expect in 2024 for everything from 56789 a i -- a.i. and the kiosks for payment, things like that? what are you looking at here? >> i think a.i.'s going to play a big role and not just appetizer innovation. we're looking at how do we bring in a.i. to help us understand our menus and how to optimize our menus, really getting down to the regionalization of our menus. when you think about chain restaurants, one of the challenges is you constantly look at the average of all of our guests, but the reality is in each location there is a very different profile.

a.i. can help us optimize pricing and start to understand how to reach that guest and what occasions are most relevant to them is so we can drive our business. i see tgi friday's taking the lead on this over the course of the next 18 months. we're really going to look to implement a.i. into a lot of our business. liz: huh, okay. a.i. is spanning the globe when it comes to every single sector. we see that. brandon, you talk about market conditions. market conditions prevented you from going public in april of 20 to 20. this, of course, was at the height of the pandemic. a company backed out of its plan to purchase you guys outright and take you public. any plans now to reinvigorate that pathway? >> i would say there's always the opportunity in the future. i think tgi friday's really is shifting towards a growth mentality, and we wan to show that -- can we want to show that ability to grow into new units. we have a new capital light

model that we're exploring with hotels. we do so well in travel centers like airports. we have a location that just launched that has a $14 million auv, four of the top seven restaurants in dfw airport, so we want to show that ability to grow domestically and internationally, and then i won't tip my hand, but i'll say that anything is possible. are. liz: right. just like walking on the moon. as that astronaut did behind you. we've got a whole bunch of food here with a lot of beef, which i'm sure costs a lot of money. all i can tell you, brandon, good luck to you and the team there and, boy, kid i spend a lot of time at the tgi friday's in columbus, ohio. channel 6, action news. good to see you, sir, thank you. >> thank you, liz. liz: gaming giant activision may finally be called to duty in its takeover attempt by microsoft. details on the $69 billion merger straight ahead. good time to look at a gaming companies.

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the s&p up a third of a percent or a gain of 12 the, and the nasdaq is up of -- 63 points. microsoft, nasdaq, dow, s&p stock, right? it's one of those components. clearing its biggest regulatory hurdle to date in its attempt to acquire activision blizzard: u.k. authorities announced the modified $69 billion deal resolves most of its antitrust concerns. the the new proposal includes a provision that has activision selling its cloud gaming rights to ub soft in an attempt to lessen any fears of diminished competition in the cloud gaming industry. the u.k. competition board added that it would ask other companies in the market for feedback on the proposal before issuing a final decision. microsoft is down a quarter of a percent, activision up 1.75%. amazon's announcing it plans to start running ads in shows and movies on its prime video platform. the streaming platform said in a blog that it would begin to play

ads in the u.s. early next year. great. if if you want to remain ad a-free in 2024, prime will offer an option without commercials, but you're going to have to shell out an extra $2.99 a month if you are already an amazon prime membership in the u.s. amazon's gaining about half half a percent. it's been a choppy trade today. shares ofal alibaba group rising following reports that a logistics firm is planning to file for a $1 billion ipo in hong kong as early as next week. this would be the the first ipo by a tech giant since the chinese government cracked down on the sector in late 2020. right now alibaba doing very well against most of the other stocks in the nasdaq 100. a lot of chinese stocks, we already pointed this out, gaining with alibaba in the lead about 5.25%. all right, we are coming right back. dow jones industrials above 34,000 right now.

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and grow. constant contact. helping the small stand tall. liz: ewell, the line of goldman sachs' ceos helming the behemoth over the past two decades ranges from hank paulson to jon corzine, lloyd blankfein to current chief david solomon. my next guest worked for all three -- four -- and helped the firm navigate many major transitions. but it's the her own transition that's now the subject of her new memoir, coming out trans in corporate america. maeve duvali joins me now along

with charlie gasparino. welcome. >> thanks for having me, nice way to end the week. liz: we say corporate america, but wall street takes it even a step further, does it not? >> yeah, it does. and a lot of people find this surprising, but i had a pretty good experience coming out of goldman sachs. i felt sported and accepted, is and i was happy. >> we broke the story on fox business. >> you did, charlie. it was in early june of 2019, and you guys did the first story. >> what i was most impressed about a, just your courage for doing it and coming -- and doing it publicly, essentially. you know, a week before you were maeve, i interviewed you probably as mike back then. >> yeah. >> and i thought the way you described your journey, to me, was poignant, and it kind of got me. why don't you tell us what your life was like before this happened. you were a journalist, and you weren't a very happy person even as you transitioned from

journalism to pr. you had some issues, correct? >> yeah. i was a journalist for 15 years, and i worked in corporate communications at merrill and goldman for 20 years. and, you know, i, unfortunately, i was an a active alcoholic for most of that time, and i didn't know who i was. i was very unhappy with myself. and i did the best i could, and i showed the world the best happy face i could, but inside i was really hurting. >> right. and did you, are you -- i'm assuming you're clean and and sober now? >> i'm clean and sober. it's interesting, charlie, because i got sober in january of 2018, and then i realized i was transgender quite suddenly, and for me the two were intertwined. i don't believe i'd be sitting here before you alive, or if i was alive, looking like this if i hadn't gotten sober. >> you were one of the most honest flaks -- that's what i call them, i know you don't like

the word -- >> no, i don't mind. i think part of the job is picking up the phone and talking to journalists, and some of the people in my profession just don't do that. >> we can't have you op on here without asking about david solomon. he's always in the news. you told me at the time that goldman treated you great, that david was very understanding. he spoke with you. why is he so, i don't know, is it hate now? i mean, what's up with him? >> yeah, this is a complicated question, charlie. i worked for goldman for 18 years, and part of my job was dealing with current and former employees that complained about the company. that's just what comes with the territory. i'll tell you that when a stock price is rising, when people are getting paid, when the company's doing well, the griping diminishes. >> so david's not a bad guy. >> no, i don't think david's a bad guy. maybe -- david's an investment banker. maybe it's as simple as turning up the charm a little bit because that's what investment bankers do, they have charm. liz: you kind of brushedded over

it, but you said your realization that you needed to transition to a woman came ratherred is suddenly. what was the trigger? was it something at work? was it something where you just got clean and sober and realized now i see clearly? >> i think it's both of those, liz, and for me it was a sudden realization. but when i went back and looked at my life, and that's what this book has allowed me to do, to go back and look at my life from a sober perspective, from a transgender perspective, and i notice things that i hadn't noticed before. and a lot of things thatten didn't make sense to me before made sense right now, but it e really for me, it was a conscious, sudden realization many of course of 2018. in october of 2018. >> corporate america is now marketing actively to transgender people, as you know. there's a huge controversy with dylan mulvaney and budweiser, the target sort of ads -- the target displays. where do you think these

companies are going wrong in this area? i mean, was the dylan mull rainy, was that just poor brand management, not understanding, or do they not just get -- essentially, could they have done it in a more nuanced way in. >> well, they certainly could have done it in a better way. [laughter] charlie, you and i talked about this, but dylan mulvaney was just thrown to the wolves. >> i agree with that. after it was the over -- we don't even know his version. so that was horrible. was it, did it make sense doing the commercial? >> so, well, we don't really know because another marketing person got fired, right? >> well, they got -- they're not officially fired. >> yeah, okay. thank you. and so the issue here is once a company sticks its neck out on a particular issue or for a cause or an a underrepresented group, they have to keep in the game. and if they backtrack, that's the worst possible thing they can do. and we've seen that bud light is reviled both by its traditional

consumer base and by my lgbtq+ -- >> right. they helped, they satisfied nobody with this thing. >> yeah. they're in a rotten position. liz: well, you're in good position, it feels like, with your brand new book. maeve, thank you for coming on -- >> is it selling? >> yeah, it's selling. >> i bought it because i know you. >> oh, okay. >> i will read it. >> buy it. thank you very much for having me on. [laughter] liz: former goldman sachs pr, and we won't say flak, america aeve, thank you. good to see you. chinese exchange-traded funds popping as market regulators hint about a changes to foreign investment making things a little bit easier for foreign money to flow in. will the moves for more investment in china's $9.4 trillion stock market, would that also spur investment from emerging markets? mark mobius. earlier this year he told fox business viewers to be very, very careful investing in china. mobius joins us live next in a

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liz: is chinese xi jinping doing an about face? okay, go oaf to if -- go back to 2020 when beijing aim at a its own publicly-traded company first with ant group, jack ma ofally baa a baa, okay? derailed the ipo of ant, and then subsequently slapped all kinds of restrictions on other chinese stock that is trade in the u.s. but today with a backdrop of a waning economy in china, reports out of bloomberg are that chinese officials in an effort to boost investor confidence of stocks listed in shanghai, shenzhen and beijing will be allowed to accept soon foreign investment. so are chinese stocks back in the game? let's bring in the man known as one of the most successful international investors, the godfather of emerging markets here in a fox business exclusive, mobius capital partners' founding partner mark mobius. what do you make of this news? do you believe it, a, and, b, does it make you more inclined

to opening your mind to investing in chinese stocks? >> well, yes, i believe it. i believe china wants to have more and more investment. but with a very, very specific goal, and that is in technology stocks. if you look at what has happened in china, it just up to this month of this year, the chinese markets have raised something like $41 billion in ipos versus something like $10 billion for the u.s. so the chinese the have really gone in for a lot of ipos. but these ipos are tech-oriented. xi jinping wants to grow the tech sector and, of course, achieve the objective of having the tech sector in china surpass that of the u.s. liz: would you consider -- >> so they're going after investments in a very aggressive way. liz: would you consider chinese ev makers and related companies in that space as technology

companies? >> yes. software with, hardware, every aspect of tech. but the emphasis is going to be on chips. in other words, the chinese have got to surpass what is happening in taiwan with dsmc. and in order to do that, they've got to go into the chip manufacturers and all of the subsidiary, supporting companies that support the chip manufacturers. liz: but let me just put a finer point on this. does it make you more comfortable when it comes to investing in chinese names now that the chinese government is appearing to relax its iron grip on these publicly-traded tech companies? >> to some extent and very, going to very specific companies, perhaps yes. but the problem now is that you have companies which meat be very profitable -- may not be very profitable in this early

stage. if you look at the ip os, you'll see that the chinese have imposed a lockup for investors. yards, they can't get out in the short term. now, it doesn't mean these companies are not going to do very well in the next 3, 4, 55 years, but -- 5 years, but our thinking is that we have to be very cautious about looking at a these companies and making sure that we're in companies that are going to be profitable and have a lot of roe earnings coming in. liz: uh-huh. major u.s. corporations are pulling their investments out of china. in fact, they're trying to move operations in the case of apple, that's the most obvious one, to places like end e ya. india. does that make you sort of say, well, like i told you so, everybody, because you've been banging the table, pounding the table on indian investments. >> yes. i felt that it was very, very important for american companies or international companies to diversify out of china into

india. but china is still a very important market, and you can't ignore it. so i recommend people diverse thefy their -- diversify their base into india but also hold the chinese stocks that are attractive. and, of course, it remains to be seen to what degree the new tech stocks are going to be attractive in china. liz: okay. so you're saying hold on to chinese stocks, not necessarily add to the positions? >> what i'm saying is probably lighten up on the consumer names because that's where the chinese government is not going to give support and go into the tech names, but only those that are profitable now and that have a very good future going forward. so that's going to be a difficult task, but i think that's the way to go. liz: such as a, do you have any names in particular that you think would be a safe opportunity? >> no. at this stage of the game, i haven't found any that have the

criteria of high roe that we impose on companies that -- liz: i see. >> but that doesn't mean that it's not going to happen going forward. liz: well, it's the always dangerous in these emerging markets, india included, because you never know about how mercurial the leaders can be. we know that xi jinping controls all of the strings on the puppets down there, and he, he makes sure that comments like, oh, well, we've seen problems with the iphone 15 and its security issues, he makes sure that those are things that come out, or he at least approves them. now there's comments about the leader of india, modi, that he's ruling with a tougher and maybe more strong sort of ham-fisted approach, and canada's upset. they feel that the government has meddled many some of their citizens' lives. in fact, there's a sikh leader how was assassinated, and

canada's -- in canada, and canada's blaming or at least saying that the government there, how deeply do you look into each leader before you put money into that country? >> we look at it very, very closely. to see to what degree the leader is going to support private enterprise. and i think modi has demonstrated very clearly that he wants to the support an opening of the indian economy and private enterprise. so this is a very, very good sign for us. liz: okay. >> and that's the reason why even though they have these problems with canada -- and, of course, internal politics are very complicated in india. nevertheless, the push is towards private enterprise, free enterprise system which is very beneficial to stock markets generally. liz: mark, we've got about 30 seconds. you got any money in cash right now? >> i have money in cash waiting for the market to correct substantially. [laughter] but we still are investing in

india and other countries around the world. liz: okay. well, good to see you, mark. thank you very much for joining us and giving us your ideas and your thoughts. >> thank you. liz: mark mobius. we've got plenty of economic data to look forward to next week, yes, including the federal reserve's favorite inflation gauge which often has the most power lately to move the markets. core pc everything, personal consumption expend your, for august is anticipated to clock in at 3.% when it is released next friday -- 3.99 % -- compared to the more recent print of 4.2%. joining us now is chief global strategist at lpl financial, quincy crosby. what are you expecting here? and in light of the fact that we still don't have 2% inflation, quincy, what is the best investment that you see right now? >> well, because of that, you know, the treasuries are often a

great return. and if you go into the short end of the yield curve, it's extremely good. it's safe, and you could wait it out there. but you always, always risk the potential to get back into the market. if we start seeing rates coming down, you get capital appreciation, but then you've got to move over perhaps into the market. we expect rates to be higher for longer, and we take the fed at its word. i mean, even today we had two fed officials, both suggesting that we may need more rate hikes or another rate hike. they have got to stick to price stability. that is their mandate. and powell, he underscored it at the press conference so often i lost count. liz: yeah. yeah, he did. so let's believe him because so far he has not, he's not diverted from what he has said, and that is he is still in this game to tamp down inflation.

quincy, one thing that hasn't been stable is the price of oil. the do you like energy here? in the after-market, i can look at west texas intermediate, and we do have it at about $90.34 a barrel. there's been a big move this month. >> it's not only been -- yeah, a big move. it's leading the market as a it did almost a year ago, and then it went into decline. but what you have now is the supply being cut back by russia, by the saudis. the saudis are the consummate put on the oil market, and hay want that price to be -- they want that price to be probably about $90. that's what they want. and they're getting it. brent crossed $90 just a week or so ago. they're going to cut, keep production tight. but the one thing they don't want is to have it rise so much that it could cause a deep downturn in demand and the economy. so it's a fine line. they have the meeting october

4th, it's a ministerial meeting, and we're going to see what a they have to say. chances are the saudi energy min ester has been very active in the market, you know, preparing the market for their ability to, how do i say this, keep supply and demand in a normal equation. liz: yeah, we'll see. yeah, we know they like higher prices, so they squeeze the supply. quincy, great e to see you. have a good weekend. here we go, the bells are about to ring. markets ending kind of a brutal week in the red. for the week, the dow losing about 1.8%, but the s&p has lost 3%. biggest loser? nasdaq, down more than 3.5%. that'll do it for us. ♪ larry: hello, folks. welcome to kudlow. i'm larry kudlow. all right, kids. it's friday. how about a quick discussion of the news of the week in review? well, much in the news was the nation's explosive illegal