he shifted to industrial growth is his focus, no one in china wants to give up their prosperity. he doesn't want to give up his regional world dominance. there's a conundrum through this meeting. they are eager to operate in china. here's the thing. i think president biden could have pushed back a lot more after settling into empty promises on fentanyl. after the meeting, calling xi a dictator but pointed out how much progress had been made. this is the time to tighten the screws on china. they are vulnerable in a lot of trouble so xi's dictatorship, we want to show the world what we mean. i think this will be our last chance. liz: the stocks that trade here are getting crushed across the board.

we've got breaking news on major fronts. the multi-session run faltering at this hour and two key names, cisco and walmart getting trounced after chilly forecasts. the second headline, as charles was discussing in a few minutes, president biden, leaders at the apack conference will gather at san francisco for the so-called family photo which might be offered after president biden, charles of ridgewood, referred to xi jinping as a dictator. we take you to the event in a moment. we you can try to read their faces as we get the shot. we will get that. and the bulls taking a breather after they are multi-day sprint. dow jones industrials down 122 points. cisco taking outsized blow to the solar plexus.

bottom of the dow, shares losing 11%. the worst hit percentagewise, shares are down 11.5%, dumped a bunch of bad news on investors last night. cisco cut its full-year forecast. the company which is a good barometer for enterprise technology said best case scenario for full-year revenue, previously the high end for sales was $58.2 billion. cisco setting a slowdown in orders for the downgrade here and walmart, the target is cautious consumer's. the origin of that echo, companies begin warning aviles

than festive holiday outlook, tjx and other among the names of the grinch's sack. recurring unemployment benefits applications, they came in at the highest in two years, it is totally understandable but does wall street know something, retail investor does not? high end retailers are getting hammered as investors sell. we have l bnh down, it was down earlier, tapestry down 3% tearing down 2 and a quarter to an 12:45%. what signs should investors be doing even if those are down the road. let's get to the floor show, you're on the floor of the stock exchange. let's not make a mountain out of a mole hill. this is not a significant selloff but if you believe these earnings outlooks is the

milk in the fridge about to turn? >> if you go back three weeks, talking the same head winds in the markets than that, the same head winds will be here for the foreseeable future. interest rates fuel political issues, 2024 elections coming up, they will put more pressure on this market. in a short period, we like to see the market move will higher it moved too far, too fast. we have to pull back. i don't think it will be a significant pullback but everyone will take a deep breath and realize we shouldn't be where we are. economic data is showing things aren't as rosy as we think as we see headlines on geopolitical issues as those continue to mount, those are certain things that will put pressure on the markets. right now we are in a fingers

crossed strategy that the fed won't raise rates anymore. we will stay where we are and then start to lower it. the fed is in a position they have to go that route but as they remain data dependent, launching the headlines of geopolitical issues, there might be a pivot that occurs. we are in a good area but it's not certain. liz: there were 8 fed heads jabbering away today. none said anything too significant in my opinion but they are very cautious, you are looking at yields slightly down today, that's interesting because the markets are down. what are the signposts that you can't see them? >> john just mentioned it, the data we have gotten ever since powell talked has been good for the market in the sense that it

is showing weekending, cbi was down, inflation, even the jobs number, 230,000 number was higher-than-expected. the jobless claims, that is all good for the market but what about down the road? what we are starting to see is not just the economy slowing down but the economy slowing to an extent where the consumer is getting in trouble and that is what you see with a lot of retailers because they are looking at all this consumer debt that has built up and it is at record levels. liz: the u.s. postal service says it is going to hire a third of the seasonal workers that it had added last year but i am confused because amazon will hire 1/4 of a million holiday workers and you are getting mixed messages here. >> amazon is in its own category.

they face one for the fences and sometimes they are right and sometimes wrong, the credit card debt levels are all time highs we've seen peaks of recently, we see placing has increased little by little and gets to the point it impacts the consumer. consumers won't be able to afford the same gift this year which was at a lower price, there's a lot of picking and choosing, we keep hearing about that in the retailer outlook, where are consumers going to spend their money? they are forced to make a decision and we will see that impact, interesting to see fourth-quarter earnings reports at the end of the first quarter of next year, what the holiday season will look like. liz: what does well in either scenario? a couple weeks ago you got jpmorgan and goldman sachs, some pronounced upside move. what do you do? >> i have lightened up on

those. i stick with best in class with walmart getting destroyed today that has piqued my interest. even at these levels with their outlook that has piqued my interest. on the same page as walmart, looking at costco, costco is down in concert, in the sympathy with walmart today but if you look at best in class especially the retail sector those are two names that have to stand out, a lot of time here to start picking back at the gold stocks because if we have topped out. if rates have topped out. if the economy is slowing we could see gold itself get back to the challenging not just 20002100 level. liz: what about technology? the leader of the nasdaq 100,

jpmorgan x x, microsoft is the second in position, google is right up there. amd doing well. the laggards are cisco, that makes sense, palo alto networks. we will talk about why tesla is down 5%, big breaking news. when you look at these names, the chip names and the winners. >> think of the items you talk about this week alone, technology stocks hitting 52-week highs. once we have those out and look at apple, microsoft at those levels. you get some interests of profittaking coming off the table and some pressure in that area. looking at chinese relations when it comes to tariffs, those outliers are lagging behind, utilities have been lagging

behind, high dividend paying stocks, they are not playing catch up. liz: scott looks at walmart, it's 11% cheaper. great to have you both. if i don't see you, have a wonderful thanksgiving. let's get to the breaking news, president biden and the leaders of the asia-pacific cooperation seminar about to pose for the so-called family photo on that stage in the san francisco. they will sit down to a working lunch after the president's meeting with xi jinping, both parties to agree to resume military communication to work the flow of chemicals used to produce fentanyl and that flow is coming from china. last night president xi met with the nation's top ceos after president biden called xi a dictator at the end of his own press conference. to edward lawrence where the

summit is taking place. tension in the air. >> all of the above, interesting president biden's motorcade went from one center to another for the family photo and 30 or 45, waving chinese flags and singing chinese music, very interesting scene going forward. 21 world leaders like herding cats trying to get them together for this photo but president biden believes he made a good show at this point. >> president biden: leaders of government and industry, can count on the united states. we are delivering on our promises and doubling down on our progress. >> the president finished what he wanted to do here but left one of four things undone. the administration has

agreements over climate commitments to de-carbonized, an agreement about anticorruption, agreement about an early warning system about supply-chain disruptions left undone, trade agreements. >> we do trade, we insist on high standards of labor, products and services we want to work together on, that will take more time. >> we have president 11 say i'm open for business, i can make it happen. does that offer a challenge since we haven't closed that fourth pillar? >> the challenge and the risk with others is always there. >> reporter: president biden saying 30 minutes ago he doesn't want to decouple from china. he wants to d risk from china. he is having meet is with other world leaders willing those countries and companies taking those dollars back to china.

liz: investors from chinese stocks at least at the moment. thank you very much, edward lawrence. a little bit of a question. can you use a fork and use fingers how with president biden moments away from the working lunch at the apex summit one major topic has been so far ignored in these meetings between biden and xi. democratic senator mark warner of virginia has done anything but ignore the tiktok issue. in march, the chairman of the senate intelligence committee, thought one of the most popular social media apps should be outlawed but now he says there is real urgency to get it done. look at china, shares of all three china stock struggling mightily. ali baba and during the largest percentage jump since october 2022, shelving the spinoff of its cloud business

due to us curbs on microchip exports. "the claman countdown" is coming right back. liberty mutual customized my car insurance and i saved hundreds. with the money i saved, i started a dog walking business. i was a bit nervous at first but then i figured it's just walking, right? [dog barks] oh. no it's just a bunny! calm down taco. sit duchess. stop! sesame no no. archie! walter don't, no, ahhhh. ahhhhh! you're lucky you're so cute. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ (vo) while you may not be running an architectural firm,

tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life. that's life well planned. meet the jennifers. each planning their future through the chase mobile app. hellooo new apartment. one bank for now.

for later. for life. chase. make more of what's yours. ♪ is it possible to fall in love with your home... ...before you even step inside? ♪ discover the magnolia home james hardie collection. available now in siding colors, styles and textures. curated by joanna gaines. the power goes out and we still have wifi to do our homework. and that's a good thing? great in my book! who are you?

no power? no problem. introducing storm-ready wifi. now you can stay reliably connected through power outages with unlimited cellular data and up to 4 hours of battery back-up to keep you online. only from xfinity. if you have this... home of the xfinity 10g network. and you get this... you could end up with this... unexpected out-of-pocket costs. so if you're on medicare, or soon to be, consider this. an aarp medicare supplement insurance plan from unitedhealthcare. medicare alone doesn't pay for everything. and what it doesn't pay for, like deductibles and copays, could add up to thousands of dollars. medicare supplement plans help by paying some of what medicare doesn't... and making your out-of-pocket costs a lot more predictable. call unitedhealthcare now and ask for your free decision guide. medicare supplement plans also let you see any doctor.

any specialist. anywhere in the u.s. who accepts medicare patients. take charge of your health care today. consider adding this. call unitedhealthcare today about an aarp medicare supplement plan. liz: the apex summit in san francisco happen now, president biden with world leaders trying to make progress on issues that cast a chill on the country's relationship. particularly toward taiwan but what about the aggression. many say china is putting on tiktok. hamas terrorists invaded israel killed 1200 civilians, took 240 civilians hostage, and sparked the israel/hamas war. this video platform has become

a petri dish in the us for anti-semitic and pro-terrorists posts. there is belief among a growing group of technologists that china is using the platform to sow discord on us college campuses as anti-semitic threats and graffiti spread. in the last 24 hours a letter written 20 years ago by the 9/11 ringleader, usama bin laden, has gone viral. 's letter to america as it is called articulated the terrorists justification for the 9/11 attacks. back in march, senator mark warner of virginia cosponsored the bipartisan restrict act banning technologies that pose a credible threat to national security. he joins us in a fox business exclusive. lynette adkins is an american 25-year-old pro-palestinian tiktoker, urged her one hundred 75,000 followers to read this letter, a letter written by the

man who masterminded the murders of 2977 americans on 9/11 and it has spread in the last 72 hours before it was removed from tiktok, had 80,000 likes, 1 million views. what does this tell you now about tiktok and its influence in this country? >> tells us not only about tiktok but the fact that we don't have any guardrails on any social media. this could have spread as well on facebook or twitter or x. why i have been concerned about tiktok, let me be clear, my concern with tiktok is not just tiktok specific but technology companies that come out of china, russia, iran, north korea, cuba and venezuela, where the united states has no ability to put any kind of limitations on these companies.

the magic of tiktok is the algorithm kind of knows what you like before you know what you like. that is a very very powerful tool. the chinese would rather shutdown tiktok than have the algorithm released if tiktok were removed to another country and in the case of some of these young folks spreading abhorrent views that somehow justify usama bin laden, terrorist attack that killed more americans than any terrorist attack in history, is just, why did to tiktok say take so long? liz: this is the woman who posted this. up until this week, she was basically known as self quitting her job at amazon because she got emails after hours, pretty classic jen z the

i wouldn't paint a lot of youngsters with the same brush as she has spread this letter. makes me wonder because scott galloway, the nyu professor and technologists recently said on his podcast, pivot, it is an absolute propaganda tool, and time will show years from now that it was china spreading this anti-semitism and pro-hamas insanity across tiktok and it was done specifically to whip up college campuses. a lot of these students have no idea what hamas was before this. and why are they ignoring the 240 civilian hostages including 30 babies and going to support this terrorist act? >> we are seeing that again not just on tiktok but other platforms as well. i get concerned, 40% of young

people on tiktok between 18, and 24. all of their news from tiktok, your charge was made by an nyu professor. we don't know whether china is manipulating that algorithm because we don't have access to it. we had these conversations in the spring, this was not a one party thing, 14 democrats, 14 republicans, the administration, let's not have a whack a mole taking them all they one day, the russian software company 1/3 day. let's have a place where the foreign company would have a day in court but what happened that was amazing was tiktok and its parent company dropped $100 million in television ads, lots

of them on fox and msnbc, they were equal opportunity. suddenly you had from the right and the left, let's call out the people from tucker carlson to aoc this almost attacking our effort and any other effort to say we ought to have a set of rules to deal with foreign technology, to be abused in this country. liz: talk about bipartisan. a lot of republicans joined you in this effort and if you are thinking about your kids, when i first met you i year ago and we were talking about this, a little bit of an alarmist. i see cooking tiktoks and hilarious cat videos. i'm really starting to wonder if scott galloway and some of the very smart people out there

aren't absolutely correct that china will do anything to discord, pay influencers and make sure they spread this word and what's happening on college campuses. i was looking also at the readout of joe biden's meeting with xi yesterday, i did a search of tiktok. i know better is a problem but how does the president feel about this? >> his administration was supportive and remember, if the bill became law, i would not say the -- as you said as well, there's a lot of creativity on tiktok. the idea people can be social influencers, it wouldn't bother me if this was an american company or a brazilian company or a french company but at the end of the day the communist party of china has say-so over

the algorithm, and i'm not making the claim that is very believable that they would be trying to use this algorithm to promote anti-american activity not just on the case of what's happening in the middle east but billions of users on tiktok. liz: senator, thank you very much. mark warner of virginia, we are coming right back. breaking news, a huge advertiser on x just pulled its advertising because of something elon musk retweeted. just charlie gasparino is on it. ♪ ♪ be ready for any market with a liquid etf. get in and out with dia.

personalized financial advice from ameriprise can do more than help you reach your goals. i can make this work. it can help you reach them with confidence. no wonder more than 9 out of 10 of our clients are likely to recommend us. ameriprise financial. advice worth talking about.

you can't buy great conversations or moments that matter, but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. t. rowe price, invest with confidence.

liz: markets around the world are lower, dow jones industrials off the lows of the session, down 97 points, the s&p a fraction lower, let's call it flat, the nasdaq down 11 points. the picture of world leaders now post for the family photo in san francisco. president biden and the leaders of the philippines, justin trudeau and xi jinping, leaders from thailand and korea and they just took that picture, no selfy, can't see anybody doing that.

they go for a behind-the-scenes meeting. the intel is looking good after upgrading the stock from neutral and raised its price target from $37-$50 pushing the stock to a 17 month high but not $50. analysts noted improvements on intel's bread-and-butter, the pcm data center and believed that it is lining up significant new server products which as you know have a high margin. investor slam the brakes on advance auto parts after the company cut earnings guidance and lower ed sales outward. the auto parts company also reported loss of $0.82 per share, stock down 5% after bank of america downloaded the company from mutual to underperform and goldman sachs chopped its price target from 83, to 73, at $52 and change.

deutsche bank upgrading to a strong turnaround potential. the company says it is 6 boring options for its chemical business, this is not what you want to see as far as charts are concerned. at the top of "the opening bell," goodyear is up half of one person. tire manufacturer trying to overhaul its portfolio, akron based company announced richard kramer will retire next year. let's keep up the car theme. the amazon effect in full force. the tech giant today announced, this leads to dread with the competitors in this business announcing it's going to launch online vehicle sales in the us starting next year, the move sending shares of carmax and carmana into the dumpster, it is down 5.5%. auto deals will sell vehicles

in the us store. sales of hyundai at this time next week, turkeys will be hitting dinner tables across america as the country celebrates thanksgiving and he turns up in the kitchen, the price of a quintessential bird is cooling down. actual numbers show turkeys are less expensive this year. the ceo of turkey producer butterball is here live on why thanksgiving dinner won't cash this year. are we thankful for this week's podcast. benjamin hall has cover the most dangerous conflicts from libya to a rack and recently a russian invasion of ukraine, there while covering ukraine's fight to push back vladimir putin's military incursion. paul and his crew were met by three russian bombs which is photographer, p or, much loved employee of fox news, was killed, and luckily paul

survived. he nearly died losing a leg, his other foot and one i. and one eye. that was march 2022. look at him now. how did he survive and thrive? and what message does he have for you about fighting back no matter what the situation? paul shares his struggles and how he copes with his ongoing recovery process. you've got to hear the story about this extraordinarily personal view of war and his new outlook on life. he joins me in my latest episode of my everyone talks to liz podcast on amazon, apple, fox news podcasts, wherever you get your podcast. we are coming right back. like your workplace benefits and retirement savings. with voya, considering all your financial choices together can help you make smarter decisions. voya. well planned. well invested. well protected. known as a passionate artist. known for loving the outdoors.

known for getting everyone together. no one wants to be known for cancer, but a treatment can be. keytruda is known to treat cancer. fda-approved for 16 types of cancer, including certain early-stage cancers. one of those cancers is triple-negative breast cancer. keytruda may be used with chemotherapy medicines as treatment before surgery and then continued alone after surgery when you have early-stage breast cancer and are at high risk of it coming back. keytruda can cause your immune system to attack healthy parts of your body during or after treatment. this may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain, severe nausea or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst, or urine, confusion, memory problems, muscle pain or weakness, fever, rash, itching, or flushing. there may be other side effects.

tell your doctor about all your medical conditions, including immune system problems, if you've had or plan to have an organ or stem cell transplant, received chest radiation, or have a nervous system problem. keytruda is an immunotherapy and is also being studied in hundreds of clinical trials, exploring ways to treat even more types of cancer. it's tru. keytruda from merck. see all the types of cancer keytruda is known for at keytruda.com, and ask your doctor if keytruda could be right for you. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" bacon and eggs 25/7. you're darn right. solar stocks are up 20% with the additional hour in the day. [ clocks ticking ] i'm ruined. with the extra hour i'm thinking companywide power nap. let's put it to a vote.

[ all snoring ] this is going to wreak havoc on overtime approvals. anything can change the world of work. from hr to payroll, adp designs forward-thinking solutions to take on the next anything. the day you get your clearchoice dental implants makes every day... a "let's dig in" day... mm. ...a "chow down" day... a "take a big bite" day... a "perfectly delicious" day... - mm. [ chuckles ] - ...a "love my new teeth" day. because your clearchoice day is the day everything is back on the menu. a clearchoice day changes every day. schedule a free consultation. i'm on a journey to discover the human story of gold. how it shapes us... "we're going down?" ... and our world. it's a story... i thought i knew.

turns out it's far more incredible... - "it takes your breath away." - ... than i ever imagined.

that first time you take a step back. i made that. with your very own online store. i sold that. and you can manage it all in one place. i built this. and it was easy, with a partner that puts you first. godaddy. neil: liz: the retreat in consumer inflation has come a long way since march of last year.

june 2022 was the peak. inflation was above 9%. today, go to the right part of the screen, it has come down 3. 2%. guess what else is coming down. turkey prices. take a look at jeff flock back in january. inflation was so high that jeff was profiling a business that helps people rent chickens to save money on eggs. now, thanks to a lot of reasons, the cost of eggs has fallen 32% in the latest consumer price index report, consumers are heading into the big holiday season, expecting to pay less for particular food items. turkey, according to the american farm bureau confederation the price of a 16 pound turkey is down 5.5% thanks in part to many suppliers, extra turkeys due to avian influenza virus that wiped out millions of birds.

joining us on fox business is the butterball president and ceo, j jandrin. are you raising more turkeys? how is looking with demand a week ahead of this? >> supply is in great shape. the thing about this holiday, they are anxious to get back and celebrate as they had before covid and telling consumers more people are celebrating in larger gatherings, the good news by turkeys on the table. liz: more turkeys on the table. we have video of someone watching the turkey with the label on. may be that, i know nothing about cooking, to defrost it. what is the trend? something said people are buying slimmer chickens and slimmer turkeys. >> we expect people to purchase

a bigger turkey this year because they will have bigger groups. people are traveling more this year, able to get back to celebrating with friends and family. what they didn't do the last couple of years. we expect a larger turkey. that's what consumers are telling us. most people will cook them in the oven, roast them like they typically do but great opportunity to get one on the grill and smoke or deep fry, we are there to help them do what they want and however they want to serve the turkey this year. liz: you have to cook it until it is cooked all the way through but what are the other important points about cooking the turkey and to do you see any new efforts like glazing it? just throwing stuff out. >> you got to make sure you don't go wrong for the meal. beyond that, we encourage people to try different things,

and there were years we saw deep frying was a big trend but nothing is hitting the radar from a theme standpoint. those folks get creative and happy to help them out. folks are walking through how they plan for that. liz: you've got the hotline definitely, carving is an issue too. not that i have ever done it. don't know what i am doing. i know nothing. if you look at the actual cost, you focus on the turkeys, you put up the prices here, this year is a little less expensive than last year but it is definitely higher at 60 one dollars and $0.17 than it was in 2021, 53 months, $46. how do you keep your costs in check for the consumer but still make a profit? >> inflation impacted everyone.

it's an opportunity to figure out ways to improve efficiency, do things better. the other part of it, retailers are looking to get the consumer in their store for the holiday shopping season, they are looking to feature their products differently year in and year out to see what will get the best shopper in their door to purchase the holiday meal. the other thing to recognize is that's one of the meals you will have throughout the year. when you can purchase turkey for one dollar a pound, compare that to any other protein it is hard to come up with a solution that will be better than that from an economic standpoint so it's great that we are seeing this come down but it is better for the consumer and hopefully help them during this time when inflation is difficult for everybody the last year. liz: one last question. what do you put between the skin and will meet at your house? lemon? some people put butter.

>> definitely better. i have a seasoning that i can't share with anybody. it is top-secret that i rubbed look tween -- between the skin and the meat but i will give you the recipe. liz: i will put it on facebook. my aunt wouldn't give out the recipe, never forgive people like that. anyway, thank you and happy thanksgiving to you and the team. we've got elon musk in hot water in an effort expecting support for anti-semitic post on x, the last 24 hours, there's already fallout and it is really hitting the very thing that elon musk needed to help twitter get back on its feet, advertising. charlie gasparino on the business fallout next.

you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative sports tech like this smart fitness mirror. i'm also mr. leg day...1989! anyone can become an agent of innovation with invesco qqq, a fund that gives you access to nasdaq-100 innovations. i go through a lot of pants. before investing carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.

tin is in our home, our office, our cars, and even our phones. eloro resources

game changing discovery at the world class silver-tin property could be one of the largest operations in the world. eloro resources. he hits his mark —center stage—and is crushed by a baby grand piano. you're replacing me? customize and save with liberty bibberty. he doesn't even have a mustache. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ about two years ago, i realized that jade was overweight. i wish i would have introduced the fresh food a lot sooner. after farmer's dog, she's a much healthier weight. she's a lot more active. and she's able to join us on our adventures. get started at betterforthem.com hive digital technologies. a leading bitcoin miner and gpu cloud operator is building the infrastructure of tomorrow, featuring a robust growth strategy that aims to double its mining capacity while accelerating gpu-on demand business. hive digital technologies.

. stop the wedding! is this bad timing? i'm john dory, branch's brother. former brother. that's not how dna works! oh my gosh... hello! did you just braid my hair? poppy, i'm your sister. my what?!? hey man, am i the only one without a long lost sibling? wet willy! -i am a grownup! sorry... a wet william. ♪ just let me take you to a better place ♪ hello is friendly... hello is welcoming... it's everything we want to be when helping people find a medicare plan during the annual enrollment period. so, say hello to hellomedicare... a one-stop shop for medicare plans... including a range of “all-in-one” medicare advantage plans. learn, compare, even enroll—all in one place. give us a call now. we'll guide you to a plan that fits your needs.

at hellomedicare, it all starts with a few simple questions so we can get to know what's important to you. then, we'll match you with plans that fit your needs, from well-known names in medicare. compare benefits. compare costs. it's easy. and when you feel good about a plan... we'll sign you up. done. and. done. the annual enrollment period is here. so, let's do this. give us a call today and speak with one of our hellomedicare licensed insurance agents. and say hello to an easier way to do medicare. ♪. liz: now working lunch at the aipac summit in san francisco has begun. you're looking at live pictures of this president biden gave the opening remarks. first face-to-face meeting with whine these president xi xinping. not the only meeting going on.

american ceos, from blackrock, pfizer, sales force, visa, tesla, yay elon musk was there also meeting with president xi. tesla ceo, richest man in the world, backing out of a apec roundtable event after controversy popped up at his other company x, formerly known as twitter. charlie bass on that in a moment. in the wake of a retweet what appears to be anti-semitic tweet, ibm announced it is pulling ads from the company, this just happened this afternoon, pulling ads off twitter after a report by media matters found its ads ran next to nazi content on the platform. to charlie gasparino. ibm up, tesla down. tesla down nearly 4%. charlie. >> i read the tweets. they're not for the faint of heart. i'm trying, part of me, i think part of you, because we kind of

know him a little bit, you know him better than me, you actually interviewed him, meaning musk, is saying what did he really mean by this, trying to look at it. it is hard not to, not to think this is just vial stuff and, you know needs to come out and clarify. i will say this, i reached out to about everybody i know that knows him. i reached out to walter isaacson. no comment. he wrote the book. i would love to get the take on this thing. what is going on in this guy's mind. was he losing it or high, when he said this, retweeted this. twitter is a place filled with landmines. you can easily trip up here though this doesn't seem like something that's easily to trip up. somebody is talking about nazis and -- liz: you have to make an effort, look at it, read it, retweet it. as the ceo after publicly-traded company and of course twitter twitter in the sights of

advertising, you know, devastation -- >> if you're not a publicly-traded company, tesla is as you know. liz: yeah. >> if you're a tesla shareholder you got -- first of all he is not supposed to be tweeting stuff a lot, you know that, right? he signed a consent decree with the sec, the board is supposed to be monitoring his tweets. where the hell are they on this thing? you know, thats was, remember when he tweeted out couple years ago, i think 2015, 14, i can't remember exactly when, when he said tesla was in deep trouble, right, almost going out of business according to him but we have a deal to take it private at 420. stock shot up, no deal. sec came in, consent decree. the board is supposed to have some monitoring on his tweets, where are they? i have will say this, liz, this is a business, think of it as if you're a tesla shareholder you cannot like this. first off there is a lot of shorts out there, short selling out there. there is a huge body of evidence that tesla is overvalued by a

million different metrics. we should point out its market cap, it was pointed out to me is bigger than the next seven car companies combined. that's insane. sometimes when you know, there is little, like, this isn't sort of a existential thing for the stock what he said even though it was horrible and stupid, but sometimes when a ceo engages in behavior like this, whether it's dalliances at the office, you name it, it focuses people on the negatives, that could happen here. liz: are you hearing from people about, i'm talking tesla owners, about whether they will continue to buy tesla? >> i have heard from a couple that say no. liz: they will not buy tesla? >> listen, if you want to buy, want to buy an electric car where do you go? liz: audi has multitude. >> why do you have to go to him? liz: polestar. >> i think this, his board has to come out with something on this and i think they will, just because, i think this will have, this will have an impact on the

stock. it will have an impact on the company. it will be material. then the sec has to say why aren't you monitoring his tweets? isn't he supposed to be -- i'm telling you, this did happen. this was a consent decree. they're supposed to look at this stuff. liz: twitter valuation. >> right. liz: it was 44 billion, meaning he bought it at that. >> right. liz: now it was supposed to be 4, five billion. >> depends who you talk to. liz: trying to get more advertising. why he brought in linda yak reno who obviously can't control him. ibm pulled its advertising again a lot of the issue with a lot of advertisers was, there was swastikas and nazi advertisements near theirs. >> i don't know how you monitor a lot of that stuff. liz: you hire a monitoring team. >> this is an open architecture system there will be nazis on there by the way the ayatollahs are on there too, spewing jew

hatred you know that? liz: he hasn't banned them? >> the old regime, they banned donald trump, didn't ban the ayatollahs. this needs to be dealt with in much more concerted way. the board i believe will put out a statement. he will have to. the sec will have to -- say why his tweets aren't being monitored and at some point you have to ask yourself if he really meant what he said, if there is not an explanation, you know, is he worth running the company? because he is the public face of a major public company and, you know, twitter is not public, that is private. he can do whatever he wants with it. liz: at 2:25 p.m., it has zero tolerance for hate speech, discrimination, it immediately suspended all advertising on x. >> he needs to explain what he meant. on the face it looks horrible. maybe it was some spur, but i

think he will. i'm pretty sure the board is going to do asking. it is a publicly-traded company. liz: their, charlie, thank you very. small cap stocks, past couple days they have done well, parabolically the russell has moved before over all the russell for the year is barely up year-to-date versus the nasdaq which has jumped 34%. so far look at the russell, have be a fabulous november up 6 1/2%. today's "countdown" closer said you know what? it may be time for gains for the little guys he has a couple of picks to boot. we have strategist sam stovall. i would love to believe the small cap story but year-to-date it doesn't bring you there? >> hey, liz. you're absolutely right. usually in the first year of a new bull market the small cap stocks outpaced large cap stocks by two to one margin. this time around, however, the s&p was up more than 21% around

the russell 2000 was up less than 3% and i think really that is because of maybe the overhang of the fed higher interest rates, inflation, et cetera but now that it appears that the fed will likely be cutting rates sometime in 2024, that's lit a fire underneath these small caps. liz: we're actually showing the s&p 500. it may be helpful to show the russell 2000 but when you look at what's happening -- there it is, with the russell, and some of the names in it, give me a sense what you feel in this 2000 stock bag is something that you would spend on? >> well, i would focus more own the etfs in particular because there you get more after basket. let's face it, i'm not the kind of guy to back up the truck on anything that's been underperforming for an extended period of time. in fact i'm the kind of guy that wears a suspender with the belt.

so i would go for etfs that are higher quality in these small cap space, like a pacer cash cow, small cap cash cows, ticker calf, which i do own, or invesco's, the small cap momentum and value as well as the mid-caps momentum and value, and so basically with you're doing is looking for high- quality companies meaning those which increased cash as well as dividends over an extended period but are starting to see improvement in their overall momentum. liz: okay. >> so i would look for those higher quality companies within the small cap arena. [closing bell rings] liz: sam, always a pleasure, thank you so much. sam stovall. tomorrow shark ninja ceo will join us to talk sales leading into the holiday season. ♪. larry: hello, folks, welcome to "kudlow," i'm larr