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tv   The Claman Countdown  FOX Business  October 27, 2023 3:00pm-4:00pm EDT

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>> we've seen on college campuses an increase of violence towards people students disagree with. there was a recent poll that found 25% of college students think it's acceptable to use violence to shut down speech with which they disagree. is simple manic of what happens when you teach a generation to hate the west and its values. that is what we see on our screen. charles: it's dangerous because this is the future. you have a lot of work to do and we appreciate it. the stock market around this time starts to completely collapse, hold on and the buckle up. liz claman to walk you through. a worrisome problem. >> this is one of those friday
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is you need to keep oral headlines in the final hour and major widely held stocks cratering or soaring. that's what we are here for, the market taking a sudden gap down 14 minutes ago. s&p 500 down 28 points, the nasdaq nearly went negative but up 21 points, dow jones industrials had a session low, now it is 15 minutes ago, earlier it was up three points, we have fumbled hundreds of points in the last couple minutes. the issue beyond the headline which involves apparently a ramp up in activity both over the skies of gaza and israel, a big hit to chevron, shares at session lows, down 6. 5%, 52 week low earlier, $145
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and 3 pennies. it has stumbled lower at one 4453. part of this is tremors in the release, the oil giant was punished after profits in the third quarter from a record a year ago. we have crude prices higher in the aftermarket, chevron did warn production in the gas field which chevron halted after the hamas attacks october 7th could hurt fourth-quarter output. the market obviously under pressure as the geopolitical anxiety level has ramped up several levels. the s&p now fallen into correction two days ago, we are getting reports, this headline among all the activity our fox news team is reporting, that internet service in gaza has been cut off by the israeli
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bombardment. a spokesman says the israeli army is increasing its air attacks in gaza at this hour and its ground forces are, quote, expanding their activity in the gaza strip. since october 7th when gaza hamas terrorists invaded israel slaughtering more than 1300 a single day, civilians and foreigners, israel vowed it would defend itself and, quote, wipeout hamas, the world is waiting to see when it will happen. we are getting reporters in line, and in the meantime let us flipped to wall street's fear index. intraday, it is 4.6%, for the week, despite the turmoil in
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gaza and israel, the fix down, everything is changing, up 5% for the week, month to date, that's the different story, no doubt as to do with the middle east, and hamas terrorists attacked israel, on cavuto coast-to-coast, goldman sachs ceo david solomon said he is watching more develop and closely. >> it's a risk that the economy is more fragile, watching that closely. uncertainty can contribute to a sense of confidence, the us
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economy is resilient. given everything going on in the world. liz: going on right now, let's go live, on the israel/lebanon northern border. what are you hearing and seeing? >> drones overhead and in this causation, we heard tank fire, artillery fire, small arms fire, as it clashes with the iranian backed hezbollah militants but all eyes at this moment are now on the gaza strip from great reporting on the ground, my colleagues including trey yingst talking heavy artillery fire, fire from naval ships off the coast into
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the gaza strip, the israeli defense officials saying clearly there ground operations are expanding tonight whether this is the ground invasion we've been talking about, against the hamas militants inside gaza strip, from all reports on the ground this is the most excessive amount of force used by israel against the targets, according to witnesses inside gaza strip, it is heavy again, the question is not just dealing with hamas militants and their ambush points and their firing positions but those now we believe 230 hostages being held by the hamas militants. it was thought the deal for
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some whooping of them would be in the offing but that seems to be put aside as the israeli military watching on all fronts, right here the iranian backed hezbollah, iranian backed militia in iraq and syria against us forces, though houthi firing explosive drones against southern israel, there's a multi-front situation with all eyes on what happening in the south, hamas backed by hamas militants, what is going on down there right now. liz: jordan's for an minister, confirmed by our report is lunch to the ground war on
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gaza, with epic proportions. the humanitarian catastrophe on october 7th due to hamas, and the dow jones industrials down 417 points, down 27 points. if it closes down more than seven points, definition of a correction is down 10%, a couple names making a lot of news here, despite amazon's percentage again, the tech giant reports that its profit tripled on its cloud computing and advertising in retail sales, watching this closely because a lot of stocks and indices which had been up higher are losing a lot of those gains. until gains not enough to lift
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the dow out of negative territory. 91/3% on pc market recovery but dow jones industrials down 420 points. until is not enough, beside chevron, jpmorgan, walgreens, boots alliance and merck. as we close the month of october a couple trading days next week, 10 of 11 s&p sectors are set to close the month in negative territory. it has been a rough month here. and and and joining me, marcus zender, mark, i'm looking at a big move in the markets. a great investor over so many years, many times in history
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the markets have seen huge, upsetting headlines. how did he view them? >> i don't want to make light of the situation, he said it 100 times, at the point of maximum pessimism, they are there right now. there is the saying, decades when nothing happens but there are weeks when decades happen and that is where we are now. liz: mark is right. we understand the human toll on both sides that could be coming but as we look at the nasdaq it went into correction earlier, but the s&p dumped its head into the correction territory. is that what you're doing when looking at these names and saying peak negativity near-term? >> absolutely. sir john templeton is a mentor of mine, so you purchase when people are selling despondently so that is what i'm looking to
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do, the war accelerate the uncertainty and that creates the opportunity, you may hate every minute of it but if you are serious about being an investor as opposed to a traitor this is your moment. liz: maybe a moment to pick some jpmorgan shares, we know jamie dimon announced he had his family are selling something like a million shares, you started dipping in, did you not? it's getting hit by 4% at the moment. >> i bought some today before i went on the air, people forget that executives are humans, a family gift, who knows what he's doing, it is a great company, grew up under sammy's tutelage at bought some more. liz: when you look at the feel of the markets, xp, the headlines we are seeing right now. fox news is reporting benjamin
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netanyahu says military operations are underway between israel and gaza. can you give us a sense of the overall picture of a market, not as bad as it ever was certainly. >> i work with michael price who said you want to learn how to manage money and he told me about investing, and if you will see the price, buffett uses as well and to use it for industrials or the technology sector, you see good opportunities for stocks, financials and utility selling below the historical average of priced ability. liz: a lot of people think chevron is best in class and it discounted, amazon, i want to talk about that because amazon, was a little, to use kids terminology, cost cutting
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making a difference, something the holiday season is starting to look at that, very much in focus. >> customers are not happy with them. the question of cloud computing everyone is focused on from google to microsoft both of which had stronger numbers, they are looking at amazon, 9 months, not so sure. liz: the consumers, the fed's inflation gauge, not exactly cool and calm, do you think the fed needs to raise its target rate to be more realistic? >> it came to 3.4% year over year, historically inflation
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going back, 3.28%, and the fed will go up not on wednesday but -- liz: mark and keith, dow jones industrials down 401 points. we are watching develop into the middle east, sketchers jumping into the nba's foot ballgame for the first time in company history. casual shoemaker cfo and coo up next to thomas if they are about to make the biggest sneakers signing, since you've got to hear that. when the stock was at $0.24. year to date, lost 15%, and they are looking at a gain of 29%. we throw in under armor there,
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liz: we see degradation on the dow, investors have endured a year or more of recession warnings, no official recession, the job market and the consumer hold steady, we should look at these year to date, visa is up 10%, out doing that, capital one just missing
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the s&p, gains nevertheless fresh data may explain, personal spending rose in september, that's the sixth straight month of increases. one footwear company sees that as the right time to make a huge bet on designs that don't come cheap. for the first time ever, sketchers new basketball shoes debuted on an nba court this week. those on the screen are not them so why don't we show the basketball shoes? joining us in a fox business exclusive, sketchers usa cfo david weinberg, the ceo of sketchers usa, sketchers history was made wednesday night in new york city at madison square garden when julius randall of the knicks became the first athlete to wear sketchers in an nba game. tell us about the issue and the journey to that?
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>> this is what he was wearing. liz: hold it up. >> start who go through the shoes a little over a year ago. tried and tested to feel comfortable and technical and it comes back in positive results, just the beginning. liz: let's get the cost, the higher price point. >> the way we start these performance categories, we focus on commercializing to a broader audience. what david mentioned, delivering a shoe, similar to what you've done in football,
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soccer for the americans, and and towards commercializing. these premium products needed to support the athletes. >> we have something called rose grip, the goodyear tire feel, and it must be enough for julius to say i will wear those during the game. >> a lot of features in these highly technical shoes, with the elite athlete, with a compound you need our partnership with goodyear, throughout the product lineup. thought was well suited to this performance shoot, provides good grip, very comfortable for the athletes, supporting their foot in away.
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and like likes to be solid, said they don't -- and the performance is very much for that. liz: david, i need to know about this reporting the athletic, the reigning nba mvp was seen wearing sketchers shoes during practice last week. to the casual observer that looks like he's ready to sign with you guys. can you break the news for me on fox business? >> not ready to break, it is important to us, they want everyone to know if athletes are which with us because they
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are good for them, great quality, comfortable, we won't jeopardize their career, and we want them to love them before they come to us. liz: thank you, and one thing about your earnings. stock has been outperforming year-over-year. direct to consumer sales, made a massive jump in the third quarter, $850.4 million, 24% increase. to what do you attribute that is the driver. you come out with pickle ball shoes and the soccer pitch announcing a deal with harry
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kane, where's the biggest driver here. >> it starts with product we talked about in basketball, the portfolio that drives the consumer. what's most exciting about the results we've seen year to date and in the third quarter, the resounding demand, outstanding growth in that. it is really the widest aperture of product portfolio, consumers realize they can get a lot of footwear solutions in stores complemented by the comfort technologies in products. basketball shoes are just as comfortable as the pair of walking shoes or work shoes, i could go on but that is driving people to our stores.
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liz: we are watching this closely. please come back, appreciate it. and and the gaza israel border, we are watching that, getting news in the wires and from fox news reporters, keep you posted after the break. weight loss drugs tipping the scale in their manufacturers favor. one medical devicemaker pulling its own weight. find out which one next.
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liz: we want to show you alive picture of the gaza israel border as markets hover off session lows. it is now 10:30 p.m. the s&p in correction territory, the advisor to the prime minister, military operations underway. unclear if this is the ground incursion people have been watching for and waiting for, on october 7th it would defend its country, of hamas terror
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attacks but jordan's foreign minister says it is the ground offensive being launched. israel warning residents to move south and mobile communications being cut off, the dow down 376 off the lows of 440, s&p down 20 points down 45 points. let's talk about ex-con, decks.com, the company makes continuous glucose monitoring, which is used to treat diabetes. a new class of weight loss drugs decrease patients need for decks.com's monitors, sales climbed 27% in the third quarter and stock is climbing 9.6%. ford hitting a 1-year lower
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earlier as the lawmaker with -- automaker withdrew its forecast, with pending ratification of its deal with united auto workers union, that is the good news. ford is warning of continuing pressure on electric vehicles, lost an estimated $36,000 on each of the 36,000 evs in the quarter. ford motor company down 12% to $9.98. and phase energy going through a bad phase, stock hitting a three year low at this hour, down 14.3% after the solar inverter maker forecast fourth-quarter revenue below analyst expectations. the company blaming sluggish demand and inventory buildup, one of those momentum stocks bordering on one of the redit stocks but it is tough for -- for solar edge, they are all
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down and if you look at this month, it is down 16.8%, some of them down 9%. more roadblocks for roblox after it came 2 wall street securities upgrading the videogame platform to purchase and hold and uping the price target to $36. and a strong rating and a price target of $41 citing long-term growth, the company can benefit degenerative ai. hollywood a listers signing an open letter to president biden calling him to take more action to secure the release of hostages kidnapped by palestinian militant group hamas. among the boldfaced names of actors, the ceo of the company that created the iconic doll
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liz: breaking news, we do believe that this moment there's major activity and step up in the activity of border and hamas, gaza, right now the advisor to benjamin netanyahu just now saying hamas will pay for its crimes and tonight, we are starting pay back. hamas will feel our wrath tonight. ground and air strikes intensifying on the southern border. we can take a live shot where it is 10:40 pm, israel warning
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gaza residents that when it told citizens to move south, they would be cutting off internet, communications, this is the defense after terrorist group hamas attacked on october 7th murdering thousands of civilians grabbing 220 hostages, beheading babies, raping women, there are at least 30 different foreigners taken hostage as well. the dow jones industrials increasing losses down 449 points. let me get you the updated session low, 457, new session low for the s&p down 33 and the nasdaq is able to hold on to gains of 8 points. hundreds of a-list stars have written a letter to president biden called no hostage left behind as a group condemning hamas's attacks and pleading
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for the release of all hostages including signers like adam sandler, justin timberlake, even the executive from the hottest movie of the year, barbie, mattel ceo and is really, he's not hiding behind his door. joining me live in the chair on the latest breaking news and it seems secondary, the earnings, barbie and much more but we do hope and you did sign the petition, we do hope everyone you care about in israel is okay. i assume you are hearing from them? >> as an israeli, it is very personal to me. i know too many who lost loved ones and pray for the release of hostages in gaza. we condemn terrorism and stand against hate and violence in all forms. we expect our hope for the
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safety of israeli and palestinian families caught in a war. since the hamas attacks october 7th, the children's foundation has been focused on humanitarian work including cash to shelters and hospitals to support children who are suffering and we wish for the swift resolution of this war. liz: beyond it being so personal what emboldened you, how good did it feel that jewish and non-jewish, major names in hollywood have come together, hundreds of them to sign the letter? >> the issue of the hostages, more than 30 children under the age of 60, half of women, we hope for resolution.
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liz: you are israeli but you also attended ucla. we've been watching everything going on on campus in all these pro-palestinian protests. nothing wrong with supporting civilians on any side but seems misguided when they are attacking jewishness and being very anti-semitic. how does it make you feel as an alum of this school, talking to many donors of major schools everyone from leon cooper is a man of columbia, jeff green of harvard and they are questioning, cutting off the finances and funds to these schools. >> the hamas israeli warriors a different situation. people are conflating the two issues. this is about for terrorist activity against civilians, to take action and defend itself. it is not about palestinian
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versus israel, it is about terrorist organization. liz: any country would defend themselves against what happened. let us segue to mattel. you came out with numbers here, top and bottom, softer guidance for the current quarter. tell me how the holiday season is looking. we have halloween, the top adult costume is barbie. also can. this is quite the zeitgeist at the moment. >> the quarter was a strong one for mattel. meaningful sales growth and margin expansion with very strong cash flow. also a breakout quarter for our entertainment strategy with strong, incredible success of the barbie movie. we are well-positioned competitively. we expect a strong holiday season and to continue to gain
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market share in the fourth quarter with margin expansion and strong demand for our product. liz: that will be a real key. a big question a lot of people have whether they are in hollywood or the rest of the nation. when will the barbie movie go to max? people are waiting for that. >> it hasn't been announced yet but it has been an incredible success. it became warner bros. biggest box office performer ever and the number fourth, the highest grossing movie of all time in the industry. we could not be more proud of the success of the movie. this is not just about one movie. this is about motel films vision to call elaborate with living filmmakers to make
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standout quality movies based on iconic brands that resonating culture and appeal to global audience. liz: can we guess by the end of the year? can i get you on that? >> too early to tell and warner bros. is running the platform. we continue to excite fans everywhere and fall in love with the movie had with barbie as a franchisor and it is about long-term franchise management for barbie, not just the movie but also television, digital experience, consumer merchandise and the brand will benefit from the success of the movie and the much broader audience that engaging with barbie at the high level. liz: our prayers for everybody on the ground and extended
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family in israel, mine as well. thank you for joining us. we are coming right back. disgraced ftx ceo sam bankman-fried took the witness stand in front of a jury and packed courtroom. we will tell you what happened in the fraud trial. ♪ ♪ explore endless design possibilities. to find your personal style. endless hardie® siding colors.
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♪ ♪ if. liz: breaking news, the master mind behinded crypto exchange ftx, sam bankman-fried, right now testifying in front of jurors in a manhattan federal courtroom. charlie gasparino has all that's been going on. >> i will say the rubber meets the road monday when you will see him being cross-examined. right now it's, like, his side of the story, defense attorney. and, you know with, a lot of the stuff you'd think he'd say, he did not defraud customers. he did not have a risk management team. by the way, that's called willful mismanagement. liz: how could sequoia, one of the biggest venture capital funds, look at this and say -- >> yeah, think about it. it's like cable news network networks, like if fox news didn't have any cameras. [laughter] i mean, if you are a trading firm and you have no risk
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management, it's a good analogy. anyway, that's what he said. we'll see if that's lies. [laughter] he wanted to donate to political causes to the change the world. i'm sure that'll earn him a lot of fans on the jury. he didn't do as good of a job as he should have. he said that today. duh. liz: okay. >> again, expected to wrap up, and that's when i think you'll see the rubber meets the road where harry potter -- plotter, isn't that what the post called him, harry plotter in. [laughter] liz: great headlines. >> that's why i love working for the post. he's boeing to be crosses-examined by the prosecution -- going to be cross-examined, by the prosecution -- liz: could you hear a pin drop? what is our producer in the room saying? >> she said it's kind of boring. it's literally him just defending himself. monday is really where the rubber meets the road. it's a story you've been covering, you did a good job with me on cooper hanker you know, so many people called me -- cooperman, leon's comments
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went viral -- liz: about stopping funding to columbia university. >> because of the the pro-hamas protests. liz: pro-hamas professor. >> and, by the way, anti-israel. hatred of jewish people on campus is reaching a fevered pitch, and the financiers that went to these sort of allegedly prestigious colleges are fighting back right now. leon cooperman is one. again, his comment on your show went viral -- liz: where he said he's suspending -- >> but he said something else, can you say it? liz: he said that the students who were supportive of this have s for brains. >> yes. he didn't use the word s. an alum of university of pennsylvania, the wharton schoo- liz: on the board. >> he's on the board. he donated $50 million a few years ago, helped raise something close to, like, a billion for the school. here's what i understand, from people close to him that his
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drive to defund the school after its pro-hamas, anti-israeli, anti-jewish protests that occurred is picking up steam. thousand, he wants -- now, he wants the head of the school, mcgill. i can't remember her first name. she's the provost. liz: liz. >> liz mcgill, and she wants a guy named bach, by the way, he's a banker, he works for greenhill and company, he wants them to resign. if they don't resign, he's got committed to defund the university of pennsylvania of a billion dollars. liz: billion. >> that's what, the latest word i got. they have 7,000 people signing a petition, 7,000. it started with a dozen, it quickly went to 4,000, from what i understand right now, 7,000. this is a story i'm going to be covering more op on monday and and over the weekend, so stay tuned. liz: okay. >> now, are the two going to be the blown out by university of pennsylvania? if you know, i read something in the times that they've been --
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good luck when they face a deficit on their endowment of a billion dollars. and their most prestigious fundraisers. mark rowan is worth $6 billion. they say screw you because your school is condoning anti-jewish hatred. liz: and it's the not just the jews. jon huntsman, ambassador, former governor of utah, he's furious too. >> it's just ridiculous. i can't believe how low education's gotten in this country. it's disgusting. liz: how did we get here? >> i don't know. well, i do know, but -- liz: we're continuing to follow the latest headlines out of israel as the prime minister's adviser says hamas will feel our wrath tonight. the war is calling investors to pile into defense names, raytheon, general dynamics, lockheed martin all up 7% or more since the terrorist attack on israeli civilians back on october 7th. our countdown closer says one
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name on this board is the one he really is going into right now, hen -- hen onand walsh asset management ceo, kevin mahn. and we do want to express that finances -- >> it pales in comparison. liz: it is very updebt setting -- upsetting. >> defense spending in our country is forecasted to rise by nearly 50% over the next 10 years to $1.1 trillion. i think that thurm is low because of all the -- that number is low because of all the military conflicts taking place across the world. if that is the case, well, defense stocks are going to become defensive growth opportunities. one name we really like, lockheed martin. it's t got a yield of 2.7%, trading at a multiple 16 times current earnings. if you want a little more diversified may in defense, northrup grown ma'am -- liz: but they all do different
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things. lockheed martin specifically, what is its role in u.s. military weaponry? >> so largest defense contractor in the world focusing primarily on fighter jets. but if you ship to northrop grumman, that actually gets involved now i in re daughter, they're getting -- radar, they're getting involved in other missiles and aircraft as a well. they focus on engine parts. liz: spinning forward to next week, wednesday we find out what the fed has decided on interest rates. yeah, mark that on your call calendar with the decision on wednesday. your thought. >> there's no way they can raise rate in the face of all this uncertainty. i think that july hike was the last hike, and by this time next year we'll be talking about rate cuts, are liz. liz: in the end though, the markets have hell up pretty well, in the withstanding what's ooh happening today. the dow jones industrials down 3911, s&p head -- 391, s&p in correction territory. >> yes. and think about it, without those seven magnificent technology stocks, it was
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roughly flat even heading into today. liz: so why invest? >> we need now to look for opportunities for growth. when the fed does cut interest rates next year, we can expect the economy to actually start to grow again, and that leads to -- liz: the the economy is growing, just to remind you, 4.9% -- >> yes. but if you look at what the fed is forecasting next year, coming down to 11.5, it's going to $1.5%, it's going to slow. liz: all right. here comes the the bell, folks. monday we have kind snacks' founder. he is an israeli, right in he's mexican-israeli. we'll be talking to him. we've got doug burgum, gop candidate and north dakota governor. here we go, we are closing actually off the lows of the session, but it is a day in the red where the s&p and the nasdaq close out the week in correction. ♪ larry: hello, folks, and welcome to "kudlow." i'm larr

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