a lifelong endeavor, more about wealth generation than trying to beat the street every single day, leave that to the talking heads that, financial television. i'm going to share that and so much more on the town hall on thursday. i will import everyone get your own copy of unbreakable investor today, you simply go to unbreakable investor.com, the book is free, all you have to do is cover the shipping, the amount of money that's going to be made over the next ten years in this market is phenomenal, i also think there's going to be a loss, some of it potentially and some of it not potentially. you have to be ready for it and i think you will be, before then i want you to be ready for the rest of the day the next hour and no one guide you better through that the liz claman. elizabeth: thank you so much charles, we want to give you a quick mention, take a look at bitcoin it is still above 28000 after a sharp spike to nearly 30000 this morning triggered by

a rumor that was debunked that the sec had approved blackrock bitcoin etf application coming up in the first exclusive appearance since the news broke we have blackrock ceo larry fink. larry is going to be here live in the back half of the show to give us the exact word on what truly is going on with the blackrock bitcoin etf, were the cadet in an extraordinary session as we head into the final hour of trade the dow jones industrial through hundred 36 points, the s&p nice move of more than 1% or 49 points, the nasdaq up 176 and look at the russell shooting higher by 1.59% or 27 points but it is not so much the presentence gains that deserve the extraordinary description it is the fact that they come as hundreds of israeli tanks and hundreds of thousand troops en masse at the border and gaza in preparation for a ground offensive to take at the

terrorist group hamas. day ten of the hamas israel war which began on october 7 when hamas terrorist invaded israeli civilian enclaves in the festival to torture, rape and slaughter more than a thousand israeli men, women and children and international victims as well, new numbers from the state department, 30 americans killed in the initial hamas assault and 13 among the 150 hostages being held in gaza. president biden say the u.s. is working like hell to find them and rescue them. iran sponsor care group hezbollah in lebanon stoking fears of expanding more theater now is not just benjamin netanyahu morning iran to stay out of the conflict, german chancellor olah scholz says without iran's support hamas would not of been able to carry out the unprecedented attacks on israel. with eight germans among the hostages let's bring in israel's ambassador to germany live from

berlin. before we get to the hostages, there is a headline that is wires apparently hamas taught person is saying that he will be ready to free the hostages in exchange for 6000 male and female prisoners and israeli prisons, clearly you have that headline coming out not to mention all the hostages, 150 or so for thousands of palestinians who were being held in israeli prisons your response. >> my response en masse is the terrorist organization and exactly using this to move emotions in the families and everything else and that this stage what do we have to remember is what they've really done in the slaughtering, burning jews in their own houses, raping women, beheading

babies, burning them alive. this is something, no one in the civilized world can take. it's israel's ambassador to germany. i think i can say the nation-state of the jewish people was basically established so we will never ever see scenes like this of jews slaughter, there's no other word today. in this case i don't believe a word he is saying, of course we have checked everything to make sure because in israel, especially around the world, those kidnapped and i remind the public it is children, it is women, it is really unbelievable. it is one of our targets to try to bring them all back home and

safety. elizabeth: ambassador, shawnee the 22-year-old german woman this is one of the first images that we solve the terrorist tractor on cautious into a truck, her mother believes she is alive, do you have any information about her or any other german hostages? >> i personally do not have any information but i assure you and everyone who is watching this the israel and the relevant authorities really are looking at any information every piece of information that we know for a fact would reach the families because this is so sensitive that i personally am not going to get people hope at this stage but this information will get to the families when we have exact

information. >> president biden has canceled a intake stateside to be in washington, d.c. during the development, there is word but no confirmation he's considering a trip to israel, what about olaf scholz, the chancellor of germany there has been a report is expected to go to israel and egypt tomorrow. >> that is absolutely true the chancellor olaf scholz will be flying to israel, i would be with him on the plane two days ago with the foreign ministry, germany and the chancellor in all parties. we stand very clearly and would not just words but we all have to remember that we all in europe in the united states we trivialize hamas ideology every time they said we want to

eradicate the jewish people and we want to throw them in the sea every jew that hides behind the tree we will have to murder. we said that, you have to understand, no you don't, they're not freedom fighters, no militants, they are bloodthirsty terrorist that have done one of the most really crimes against humanity that this world has witnessed and we have to eradicate, we have to eradicate hamas infrastructure governor so we can really try and reach other reality in the region. elizabeth: germany has been very clear, they say because there's been anti-semitic events in germany since october 7, germany will use all legal me deport has supporters, back in 2015 so many

syrians, muslim syrians came flooding into germany, germany took them because they were refugees. are these among the people do we know who is committing the anti-semitic acts and will they be deported from germany. >> i think germany has woken up and i think europe has to wake up, what you see happening in israel, at the end of the day happening in europe if europeans don't wake up i see the german government taking steps. those people and others from the palestine, they are a trojan horse of the german democracy they are using and abusing in the streets of germany, crying death to jews, death to israel, this cannot be seen as a public opinion or free speech, they have to really go after them and

i think germany is really doing the right thing and we hope this is going to help. elizabeth: a safe journey with the chancellor of germany, you are confirming you will be with him, he will go more to israel and egypt. please keep us posted on any developments. >> one more thing, one more sentence. we have to make sure what we saw in israel, never again, never again will we let this happen, this is the responsibility but the civilized world, civilized world, thank you so much ambassador, israeli ambassador to germany, i want to begin an american who's been living in israel since 1998 mark tobin manages a family office with assets and also the ceo of nutritional biotech company

scientific, you have three sons, all of whom have been called to serve with the idf. please tell us what they have told you, i believe one of them was among the first to go when and secure the area of the music festival where hundreds were slaughtered and murdered, civilians having and enjoying a party. >> yes i have three boys, three men age 28, 27 and 25 that got called up a week ago saturday and dropped everything that they were doing to go to their units. they are fathers and their husbands and they left their families to join with their units, one of my middle sons last monday was a part of the

unit called into secure the area known as far as a what are the villages right on the border with gaza there was a hole in the fence and that was one of the infiltrations. they came to the area a day and a half after the massacre began and they were tasked with making sure that the area that there were no terrorists left, they were guarding the fence with orders to shoot anybody that came through. they went to all the houses in the buildings in the village to seek out terrorist and to seek out the wounded and unfortunately they were witness to the massacre, they saw the body bags of the different body bags of adults and children and

infants, my son told me that some of the people in his unit actually solve the bodies the decapitated children and mutilated bodies and it was not something to be happy to be doing but the morell and the army is extremely high, i visited him on his face on friday so i know a different soldier when i think them they said you don't have to think as we are fighting the nazi's. we are fighting for homeland and that's 130% call up rate of the reservist. and the people that are workers, high-tech workers, biotech workers, people who are

students, they've dropped everything and went to the army in the graphic day saturday last week the job that rv has gone to turn things around to 180 degrees from being on the defensive to being completely on the offensive and protecting the homeland. elizabeth: you talk about the high-tech vibrant community in israel. if you look at the map, you can see how israel is a tiny sliver of land in 1948 started. you see intel and yahoo and paypal and all setting up shop because it motivated workforce, not to mention so many different technology companies and of course you look at israel with two water sources, one dead and one dying in israel does not have a water problem, even their situation is better than that

where there is so much drop because the ingenuity that many of these people who started these companies come from having served in the idf by the same token do you worry that these companies having so many empty seats 15000 reservist been called puts israel on its heels when it comes to what happens afterward in the economy of israel. >> i think first of all on the water situation just so people know israel as you say is majority desert, yet we recycle 90% of our water and the number one by far for a five times with the next countries recycling rate of water another thing high-tech and biotech and we were a center of life-saving and life changing technologies that we export to the world, that is the goal of israeli technology

sector is to ask for our technology around the world. we notice the start of nation the place where technology comes through the whole advancement in the telecommunication world is a result of israeli technology. a lot of what came out of people, entrepreneurs that started in the army. of course there is that as the war becomes more and more prolonged we will have some issues in the technology sector. >> i think the fact that countries are behind us and that means including customers for these companies. elizabeth: we have to run. >> and understanding fighting for her life. mr. tobin we think of your sons and everybody else was serving. thank you so much for coming back with the floor show traders and blackrock larry fink doing this in just a few minutes.

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elizabeth: the fox market alert quite the rally on our hands after the largest point in percentage gain for the dow jones industrial, the dow is welcoming monday with another 347-point the s&p battling higher by 50 points, the nasdaq jumping 177 and we have the russell 2027-point it is financials powering up a p5 hundred if you look at the spider financial the xls a basket of the big financial n need. how about 1%. a whole host of events this week. tomorrow bank of america and goldman sachs later this week in nt bank, citizens financial, keycorp and a bunch of other names and wednesday here comes some of the tech and media names

netflix, tesla, thursday american airlines this will be important the temperature gauge of the airline industry and in addition to the dow 30 gold men were getting reports from fellow blue chips johnson & johnson, procter & gamble and american express, let's talk about the dow for a second. when you see how many are in the green, it's only four at the moment that are in the right at this hour. nike at the very top, i can't even see. my eyesight is so bad, is that nike at the very top of this hour followed by salesforce and microsoft and home depot. you have all kinds of names that are very strong, walt disney believe it or not up 2.4 percentage points, it's very hard with what's going on in the middle east not to mention spiking interest rates, let's get to the floor show to figure

out how to navigate the action slate stone chief market strategist kenny polcari and company dan geltrude. i was looking at rising ten year bond yield, two-year bond yields earlier and i was thinking maybe the markets are rallying right now because the bond market is doing the work of the federal reserve and we won't see another interest-rate, at least that is the perception of the market mi anywhere close to what you're thinking. >> and think the federal reserve has done a good job over the last couple of weeks of assuring the markets of the going deposit again in november and the bond market is in fact doing the work for them so they're happy to sit there and you heard patty harkin say the same thing that he thought the bond market was doing the work and he sees no reason to raise rates. there is some excitement from that perspective although i think the rally that we see today is a little bit of ahead of itself. to relief rally that we did not

see a breakout in the middle east over the weekend but that is honestly only a day or two away before you start to see that and that's could create more concern for the market in the days ahead. elizabeth: concern or you just don't see it at this point and you wonder is the market going to make the mistake of number interest-rate hikes. >> i think the market would absolutely be making a mistake if they think that rates are not going to go up at some point, look at where we are. over from when joe biden became president until now inflation is up 17%, how effective has it really been maybe it could have been 25. i look at that and say we are not controlling inflation the fed is going to have to raise rates. elizabeth: navigate it for me, not to mention what we have at the moment, what do you like it's very hard to gauge. >> it is impossible to gauge, not to mention what is happening

in israel. >> your customers are paying you to gauge. >> i like j.p. morgan right now, i'll tell you why. because of the way the financial institutions have handled the interest-rate rise some not so great look at the mid tier banks took a beating because they could not withstand the stress test, j.p. morgan did an incredible job with the net interest margin. elizabeth: you also like costco, why. >> let's talk about inflation. let's talk about inflation. people need to eat so they're going to look for bargains for food, costco is the place to go. go kenny. i agree with dan, i think we need another interest-rate increase and it will come at some point. his, about j.p. morgan, jamie dimon came out you know what they're paying, the pain

2752.75% on demand deposit that j.p. morgan. meanwhile you can go to fidelity and get 5.1%. they raise the rates that they're charging on loans but they did not follow up with direct deposit, they could it's going to put pressure on their market which is why they're slow to do it so to dan's point is there a concern ahead, i absolutely think there is but it like j.p. morgan iona and like it and i like bank of america. that is coming out on wednesday. i like that one as well. elizabeth: you guys are liking financials i did not hear tech stocks. we'll get more on that. dan geltrude and kenny polcari wall street billionaires lineup to freeze up pro-palestinian students on campuses across america. blackrock ceo coming up whether he will join the growing ranks of refusing to hire students who support terrorist attacks. we are coming right back, the dow jones industrial had 50

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elizabeth: the fox market alert a full percentage point gain for the dow jones industrial and with market charging higher by 359 quake in the s&p one and a quarter% obviously the bulls are out and charging in the meantime so our investors lululemon hitting a 52 week high after receiving an invitation to replace activision blizzard on

the s&p 500, the stock is powering higher by 10.7% here's the deal about activision the videogame maker was taken over by microsoft and therefore no longer trading, no longer takes is based on the s&p 500. th means there's a space for lulu, why is lululemon jumping so much, any funds or fund manager human makes the s&p 500 or mears is 500 has to add lululemon c to its stocks, we se the exit says lulu will be added to the index on wednesday. ahead of you have a lot of people buying up the stock to add to their funds microsoft, linkedin says the delay of 660 employees across the engineering talent and finance team due to slowing revenue growth. this is the second round of job cuts this year for the social media network for professionals. microsoft moving higher by

1.70%. pfizer trading pretty helpfully of 3.7% at this hour after the drugmaker/the full year revenue forecast by $9, here's what's interesting it's not very good news. the companies i didn't drop a man for the covid treatment and vaccine despite the guidance cut jeffries upgrading pfizer pain this is an attractive buying opportunity. let's look at the other vaccine makers moderna not in biontech moderna down 6% yet biontech down 6.6%, instacart that has been a rough one since the public, it's not seen investor despite brokerages which worked out the delivery firm september ipo allowed to initiate full polish coverage seven of the nine brokerages rated outperform with wedbush and bank of america brady not neutral it's not helping the stock down 1%. shares of the company called maple bear have actually fallen

40% since its ipo, the opening price supported $1 a share. charles schwab one of the top leaders on the s&p after the brokerage posted profit of 77 cents a share excluding items that beat the estimate of 77 cents, the company said clients are continuing to chase what kenny polcari was talking about higher interest yielding alternatives taking cash away from the fund and dragging down net interest revenue, charles schwab getting 4.6%, charles schwab echo we went blackrock said about clients pulling billions from long-term investment funds and putting them in high returning money market funds but the world's biggest asset manager making headlines for a different reason a rumor that the bitcoin bts application had been approved sent the price of the crypto skyrocketing to nearly $30000, up next blackrock ceo larry fink

joins us live in studio with the status of the bitcoin etf implies he just returned from a visit to asia and europe. will give us the next investing hotspot in the global neighborhood and what he sees happening with with the war in the middle east. bitcoin is just a moment here's a look at crypto stocks, marathon, digital, riot watching, everyone is in the green. up 10%, we are right back with larry fink. ♪

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at the moment bitcoin higher by 5% but it was much higher do you see that spike on the screen at 9:30 a.m. eastern the crypto currency jumped 10% after the news outlook coin telegraph incorrectly reported the sec had approved the i shares bitcoin spot etf fox business reporters reached out to blackrock and the first to debunk the report, the outlet has since issued an apology but what does blackrock say about this and why there's so much eagerness for a spot bitcoin etf, joining us in the first interview since the strange story in the drama around bitcoin this morning'o lk along with charlie gasparino. when did you hear about this rumor. >> i was busy all day i probably heard an hour ago. >> my producer broke the story that it was not real, it's wishful thinking. >> is this what it's all about. >> i cannot talk about the

specifics of anything but it's an example of the pent-up interest in crypto and we hear from clients around the world about the need for crypto. i think some of this rally is way beyond the rumor and i think the rally is about all the issues around israeli war, global terrorism and i think there is more people running into fight quality whether in treasuries, gold or crypto depending on how you think about it. i believe crypto will play that role as a flight to quality. >> let me ask you this where you think the markets go hot war starts in the next couple of days. >> i don't know the definition of hot war. >> invasion of gaza. >> my view if the invasion is held to the southern borders of israel, i think we're anticipating that i don't think

the market will change that much. it really depends on the oil market, obviously the marketplace today is up 350 points as we speak right now, the marketplace knows the potential reality. i think that somewhat into the market and i've been asked all the time why is the market being so resilient with global terrorism and what's going on in israel and ukraine and all the other issues and i think were not spending enough time talking about the great things going on in the world today and that's what i think about technology and how it will shape and change our world. when you think about a.i. and robotics. this is going to accelerate movement to nearshore and onshore will be able to use the technology and create. >> more jobs here in the u.s.? >> more jobs and more factories. >> is just the opposite that will put people out of work. elizabeth: no question technology displaces some and

creates new. i'm not trying to suggest that the perfect situation for everybody. what i'm trying to talk about his optimism. there is a strong fundamental belief that technology is going to raise the value of financial assets because it will increase and enhance productivity. if we look at productivity in our world productivity has fallen. >> dramatically. >> for countries that have declining populations, declining demographic, the role of technology complete a really incredible role. i know you spend a lot of time talking about the changes in pharma. think about the transformation that drugs like those and pick is doing for o humanity. forget to be shape human lives, the work that is being done in dementia and alzheimer's in terms of the new classic drugs, we're going to be extending l life. there is so much negativity

going on and a lot of is rightfully so but were not spending enough time talking about it. >> one of those is inflation is seems to be in you been way ahead of us. you told me inflation was sticky. last time we were here created is still sticky what does it mean for interest-rate. >> interest rates will be higher for longer. >> i think it december the fed will raise one more time, they have to posit november with what's going on in israel but i think it will raise one more time, think about it because of the global instability we will be spending a lot more money in the world from defense, that is inflationary we are spending a lot more money on re-sure and onshore that is inflationary. all of these things in the short run are inflationary so were building up this and you mention the chips act in the ira and we have the infrastructure act all creating new jobs a new opportunity. elizabeth: when you talk about defense. people can be trained if you're

looking for your prism to say what is going on geopolitically and as horrible as it may sound we are business network, the trade is defense we saw dispense stocks pop dramatically in the wake of the start of what happened and what hamas did and clearly the united states says we have israel's back, is that something where you say look at the landscape and then go there? >> exactly. >> will get to spend more money on defense, national security has become a bigger issue. our borders are becoming a bigger issue that is the same thing true in all parts of the world. i do believe defense are spending in the short run for more a.i., more chips, this is all accelerating and this is one of the fundamental reasons why believe inflation is going to be here for longer, stickier but it will not be through the 1970s again. it is going to be elevated above

the 2% target. >> do you think they will change the target. >> i am against targets, there was a time when inflation was below the 2% target and they tolerated it. i think there will be a time if we can ever get it down to firmness a 3% level of inflation for a long period of time. what is the magic of 2%. >> i don't know the magic of three, to me three is a better inflation rate. the problem is, if you look at food costs going up, look at what's going on related to housing, that is more than two or 3% were talking six, seven, 8% growth rate so, so many americans are feeling the pain of rising inflation. >> from america to the rest of the world you have been traveling quite a bit. where is the world flowing their money where our investments that you think are legitimate.

>> i would say the industry of the companies that are continue to transform itself some of the tech companies like nvidia, some of the pharma companies like elon lily, some of the defense companies. >> that is u.s. >> in the world we were with $23 trillion of global investors in japan two weeks ago. in the opportunity in japan is breathtaking because you're starting to see the japanese economy move out of the 25 year tailspin. >> stocks are really cheap and are undervalued and all the investors said we have to refocus on japan. then you have india, mexico, think about where re-shoring as copies of looking to diversify away from china you see companies moving to vietnam and india and the philippines and mexico. mexico had phenomenal gdp growth over the last year end a half.

a lot of these companies are moving their. >> let me ask you about the middle east you have tweeted and made statements in support of israel very forcefully. i noticed some of the seo community have not. i literally remember ja jamie dn taken any with black lives matter what is going on here. >> i focus on what were doing. we've had outrage and horrified by the images, the world needs to get back the moral compass, i did the townhall to blackrock employees and i asked everyone to blackrock citizens, how can you improve humanity. how can we bring down the heat of hatred and fear in the problem is hatred and fear is growing. blackrock as the largest retirement manager in the world we have to focus on hope. why would anybody take their money out of a money market at

5.5% to invest in the long run. it's about hoping in believing that the future is better. >> i like money market returns right now. >> i do too there's a lot of things that i like. >> are they afraid that some of the ceos standing up for israel, seems like an obvious thing to do. >> i am standing up against bigotry and hatred. i am standing against all means of bigotry and hatred. >> always. >> this is not any different. >> you bill ackman of pershing square, mark hunter micro of apollo global saying what is going on of harvard and you pen. john huntsman the former governor of utah and ambassador to russia, china, singapore, they are done these are all billionaires, some jewish some not and look you are an alum of ucla, last week there was a professor at ucla that give extra credit to students who would attend a pro-palestinian

valley. we are all for free speech et cetera but there is not a moral equivalent or any symmetry between what's going on in the middle east versus what happened israel on october 7. >> i totally agree with that. >> will you not g ucl money. >> as a board member nyu we were allowed in specific and immediate in terms of stopping any of the support of hatred. at blackrock we have a long history of making sure when we recruit young people, last year we recruited 575 incredible young men and women to join the firm. we always do a broad background check and we would never hire not just because of this event. we tried to make sure we are

hiring people who believe in civility, who believe in humanity and are not voicing opinions of hatred and terrorism. this is not any change for us. elizabeth: we will take a quick break. when we come back much more with larry fink and charlie gasparino. in the meantime take a look at the market the dow is holding onto gains of 320 points. of course a big rally what does larry fink about the money market funds in the flows going in there and away from some of that i shares etf's are you coming back with larry fink. ♪

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[ cheers ] yeah! woho! running up and down that field looks tough. it's a pitch. get way more into what you're into when you stream on the xfinity 10g network. ♪. liz: yeah, we've got a roaring equity rally but if we can pull up the two-year treasury yield, it has now hit 5.10%. okay earlier it was at 5.07. i think this morning i looked at it was climbing. this afternoon, 5.09. now it is 5.1%. we're back with blackrock's larry fink and charlie gasparino. blackrock reported recently, quarterly net inflows $3 billion, that is down significantly from 80 billion of inflows in q2. >> right. liz: where is the money going? i'm guessing the money market business. >> for the last 12 months we had

$301 billion of inflows, bigger than any other firm. our inflows i can't tell you when they come in, don't come in, with different quarters. we had some specific issues in the third quarter. you're i-shares product is the most liquid product in the world to take an expression on the views of the marketplace. and because it's so liquid we see a lot of active investors use her i-shares to short or dispose of their positions or to hedge their positions. so in august and september when we had the market declines, that is when we saw, you know, over close to $19 billion of money leaving the i-shares business. now it is a big difference between other quarters. when people are bullish, they buy those. >> right. >> express their interest in the marketplace. also in the second quarter we did have one other big out flow which was a big long-term client we have some relationships w

they just wanted to derisk and they went into money markets. >> isn't it a no-brainer at this point, 5%, 5 1/2%? >> the problem i'm a long-term believer markets will be better over five or ability to market time? so many people think they do, they end up not doing it. the reality trillions of dollars is money market business is 7 trillion-dollar industry. this year alone $700 billion of money gone into it. liz: isn't there some weird dislocation being known? >> yes. liz: 15 year, separate pratt from the 30 year, which has gone parabolic, but 30-year fixed rate mortgage hitting 8%, 7 1/2%. >> yeah. liz: what, something is going to happen. i don't know if it is a fed accident, something else. what do you think? >> i actually believe this is what the fed wants. they want to bring down the heat of the economy.

>> markets. >> keep in mind the united states has the best mortgage market in the world. our mortgage market is a 30-year fixed rate mortgage. so if you have your mortgage right now, you're not paying a higher interest cost. so the transmission of high interest, elevated interest rates takes longer in the united states than it does any other country because we have such a broad-based, long-term market. >> because of securitization. >> securitization. >> you were right there. >> i was there right there when we started securitizing mortgages but that is the beauty of the american capital markets, we've been able to offer trillions of dollars of 30-year mortgages to a borrower. >> before we end here, larry, let me ask you this, where do you secretive destruction? you and i grew up on a wall street where there was lots of mergers. >> yes. >> is that period gone? is there ever going to be another big merger again? >> that is a function much the

regulatory regime. >> okay. >> beyond the regulatory regime the beauty of american capitalism is success and destruction. we constantly through the destruction we create more successes. that is what capitalism is about. and i believe capitalism is strong today as it was when we were kids in the business and i believe the opportunity is just as great. >> so no deals? >> no, there will be deals. there will be a lot of deals. >> okay. liz: larry, thank you. you're going on a trip. what is the next location? >> india. >> what is the sexual tension here? >> i haven't noticed it. >> it is so hot. liz: you don't feel the thickness in the air. [closing bell rings] ferrari ceo joins us with exclusive interview, ev out look and his plans to be carbon neutral by 2030. that will do it for us. "kudlow" is next. larry: hello, folks welcome to "kudlow," i'm larry kudlow.