talking about privatizing this company. the private sector does a better job making money than a government run entity. he's talking about dollarizing the economy, privatizing national enterprises, making the economic freedom robust again. that's why you have ypf soaring 40 percent and bonds rallying double digits >> taking inflation down from 143 percent -- >> whatever that was was not working. it was time for a change. >> they want dollars. they might get them. the dollarization of the economy. it is unbelievable. so right now on this -- well, the trading week is winding down, with the thanksgiving holiday. dow is off just -- s&p is off just 8 points. with, that i send it over to you -- with that, i send it over to you, liz claman, welcome back. >> liz: lauren, thank you very much. good to see you. apparently 'tis the season to oust ceos. in one case reinstate them. just four days -- and this is all really developing within the last couple of hours. just four days after open ai

visionary ceo sam altman was fired from the company behind chat gpt, he could be within days, maybe even hours of a triumphant return to the nonprofit. his surprise ouster on friday triggered a desperate situation that at this hour has nearly the entire workforce threatening to quit unless altman returns. bloomberg is reporting altman is in negotiations right now with at least one open ai board member to be reinstated. now, this is breaking news in the last couple of minutes. much worse for the founder and ceo, this afternoon the department of justice unsealed a sprawling criminal case against the crypto exchange which is the world's largest. criminal charges include conducting an unlicensed money transmitting business, conspiracy, and violating international sanctions against russia and iran. the ceo will be forced to step down from the crypto exchanges.

binance and ceo will pay a combined of 4 billion dollars to settle these charges. the ceo entered a guilty plea in federal court minutes ago in seattle this afternoon. we need to show you an intraday of bitcoin. it is up on the screen right now, off the los of the session, but still -- off the lows of the session, but still down about 602 points, right before the headline hit that binance was going to pay the fee and that we had the ceo going to basically plead guilty on some pretty serious criminal charges. bitcoin which hit its session lows at 10:00 a.m., then went back down again, but not nearly as far. it had been up -- down by as little as $300. it is about 36,987. 3:15 p.m. eastern we are expecting the department of justice to make the announcement. we will keep our eye on that. in the meantime, venture capitalist has spent decades investing in start-ups. we have a million questions for him about what happens next at

open ai, binance and how important the personality at the top will drive these decisions at the tech companies. he is standing by. let's catch you up on the markets before we go to him on this tuesday after five days of -- stumbling but not by much, just 5 points. a point loss after s&p exited correction territory. profit take here. the weakness is spilling from all over the place. we can show you the laggards here. jacobs engineering, zions bank corp., advanced autoparts all as the laggards. right now the nasdaq is lower. it is getting shaved by these many points, by about 74 points right now, but big alert here, gang, the earnings parade may be almost over, but they have saved one of the biggest for last. chip giant nvidia is 57 minutes away from its earnings release after the bell. little bit of selling here,

barely any, though, three quarters of a percent. shares of the leader in ai chip manufacturing have soared 210 percent year to date, but the bar for these earnings is high. investors are going to want to see strong data center revenue. that's the very area that's driven much of the stock price. also after the bell, hp and a trio of retailers are rt roing including -- are reporting including guess, nordstrom and urban outfitters. they are all slightly in the red right now. there is one retailer who had a banger of a session comparatively. it is dick's sporting goods. shares are gaining 4 percent right now, not at the highs of the session. that was earlier right after the open, but we're going to have details on why that stock is urging later in our market movers. should you really bother guessing how individual stocks will report earnings or really perform in the short-term when you can get 5.4 percent yields just by parking your money in a three month t bill? that's been very popular over the past year.

should it still be. let's get to the floor show, jp morgan managing director who is pushing back right now and says put that aside, time to get more gutsy on equities. phil, really? >> 100 percent, liz. this is the most explicit that the federal reserve has been since they started raising rates in march of 2022 that they are on pause. so what does that mean? it means that if you finally get this interest rate uncertainty out of the way, that paves the way for taking risk, in stocks -- avoid stocks right now and think about the price action this month. s&p up 9 percent. you have bonds up 4 percent. you know what the three-month t bill index is up? about 25 basis points to date. >> liz: okay. >> i can't stress enough, like i compete with so many portfolio managers out there, but everyone's competitor right now is the three-month t bill as you said because people think they are in a risk-free rate, and what i like to talk to them about is the opportunity cost of

being there. there were two times, liz, that you saw massive spike in cash investments. one was march of 2020. the world was falling apart. nobody knew what to do. the second time that asset spiked in cash was this time last year when stocks and bonds were going down for the same -- in the same year for the first time since 1974. >> liz: what you mean by asset spikes in cash, meaning everybody sold everything and just held it like dry powder. >> right, get me 5 percent. >> liz: 2020 we know what happened. you could look back to the s&p from march of 2020. it's -- >> incredible v shape recovery. >> liz: you missed that if you took your money out of stocks or didn't put it in stocks. but you're saying that means the same thing because there's a lot of cash on the side line? >> yes, i think the signal here is if the u.s. avoids recession, we only have a 20 percent recession probability over the next 12 months, and if the fed is done hiking, again, this is the most explicit that they have been that they are done with their hiking cycle, that usually

means good news for stocks. the last six tightening cycles, once the fed stopped raising rates the following 12 month return were higher in stocks than in cash with the only exception being the dot com bubble. >> liz: long-term, i'm an absolute believer in investing in equities. however, right now it's very much -- everybody says it's a stock picker's market, meaning you've got to look for individual names. it's a very hard game. where are you saying to look? >> yeah, liz, there are winners and losers here. when cash isn't free, we have to delineate between winners and losers. if we have the view that the u.s. is -- have the highest confidence that the u.s. is going to avoid recession, it is within the u.s., but specifically we like the quality of the u.s. that doesn't mean be defensive. i don't want to say be defensive because we don't have a recession view. if u.s. gdp is around 2 percent, that's a good place to be. those seven stocks that everybody talks about, they will continue to do well. >> liz: the big tech magnificent

seven. >> yes, we think this breadth expands -- if the u.s. avoids recession, we are assigning 20 percent probability to, and the fed is done, we think the breadth will expand. >> liz: what's picked over in equity land, little overdone, when it comes to buying, stay away from that, everybody's been in there? >> the overbought part of the market are the mega cap tech names right now because they are the quality sector. what we would say is go find the other stuff, the s&p 493, right? go find the other stuff that's certainly lagged because folks were either worried about a continued tightening cycle or a recession view this year. that's where we are looking. >> liz: the dow is down 51. s&p down 6. nasdaq down 75. what has been a couple of days straight, two for the dow, five for the s&p and nasdaq. do you see a santa claus rally? >> yes, we do. it might have started already. again, i can't stress enough how many people were just on the

sidelines, 5.7 trillion in money markets. that's a record, liz. we have never seen money markets have that much in assets. >> liz: on the sidelines they are handing you 5 percent in bills. >> a balanced portfolio this month alone is up over 6 percent. that's the opportunity cost i'm telling you about. i don't want to talk to you about the fed easing and reinvestment risk. no, i'm talking about the opportunity cost of being out of the market. and that's part of the santa claus rally. >> phil of jpmorgan, thank you. don't be a fraidy cat, get into stocks. thank you very much, phil. open ai sudden ousting on friday and the possible rehiring of the ceo sam altman sending shockwaves in the tech world. it is the biggest story. how does the board go from get out to we made a mistake maybe you should come back? the easy answer when there's a lot at stake.

86 billion dollars to be exact. a planned share sale by the developer of chat gpt was thrown into jeopardy the minute altman was canned on friday. so let's explain this. one month ago, open ai was seeking a valuation north of 80 billion dollars. that's about three times what it was valued at just in april. according to equities [inaudible] which is a marketplace that connects buyers and sellers of private company shares. these are shares of companies that haven't yet gone public, but maybe employees had some shares they wanted to sell and they can do so through equities zen. they said today open ai shares could be worth as little as zero. it may all depend on what's going on behind closed doors at the silicon valley ai giant. joining us now is a vc firm for decades that invested in early stage tech start ups. eric, you have been an investor

in countless tech start ups. reports are breaking that altman is in talks with at least one board member to return. what do you make of this? >> hi, liz. it is great to be with you. this will probably end up being kind of the biggest unforced error in the history of technology, certainly in the history of silicon valley. to understand it, you have to understand how open ai is structured. it's a very unusual structure. they started out as a nonprofit. the nonprofit is still there and in fact controls the company. but as the product became really interesting and valuable, people wanted to invest in it, including microsoft and some leading venture capital firms, so they created a for profit company, and that for profit company has raised li literally billions of dollars and launched this product which is sensational called chat gpt 4.

however, the control of the company remains in the hands of the not for profit. they have different goals. the not for profit, its mission is to guarantee the safety of ai, to make sure that ai doesn't do anything nefarious. of course the for profit company is there to make money and super excited about what they are doing, so they are going full speed ahead. the not for profit wants to slow things down. this then culminated in this incredible firing of sam altman on friday, which by the way still hasn't really been fully explained. >> liz: what are you hearing? i know you have friends out there. i know you are very involved what do you expect to happen? he's supposedly in talks right now with maybe one or more than that of the board members. certainly not the one in charge who had [inaudible] -- who had been the one to give him the news that he was -- bye, get out. are you hearing that -- oh,

yeah, he's going to be back? even though microsoft swept in and said we will hire you? >> everybody wants him back. you saw as well that overwhelming majority of the open ai employees literally 95 percent of them signed a document saying that if sam doesn't come back, they will leave. you've also seen that microsoft has announced that sam and his co founder greg will join microsoft. where are these people going to go? obviously they are going to go to microsoft where sam is going. you could -- you have this potential massive migration of the talent of open ai which, you know, carried the product in their hands. and the value of open ai would be zero if that happened. it is really in the interest of the open ai community that sam comes back. but that really entails that the

current board of the nonprofit leave. sam will not accept them staying there. so there's a lot of drama going on. >> liz: yeah, i wouldn't either if i were sam altman. i need to dovetail quickly and shift to what's happening in seattle right now, in federal court, with the ceo of binance. he's going to step down. the department of justice has unsealed a major criminal complaint against him and the crypto exchange that he had founded, all kinds of money laundering and different accusations about violating sanctions. the cult of personality, this could span altman too, where the ceo is the leader, the person everyone follows. how dangerous can that end up being? we see certainly with binance what it will lead to. these are still allegation but it appears he will plead guilty.

>> you tend to see that when there's a major development in technology, and, you know, my belief is open ai and ai is the biggest transformation al technology in decades, if not forever. the same really happened with crypto. crypto was going to completely change the way the money was going to be transferred, money was going to be used. it was going to replace currencies the governments were issuing, and, you know, and this particular exchange actually really exists outside of the united states, and that's why they're being accused of breaking sanctions, you know, issues of that nature. it was not regulated. and then when the u.s. started to regulate the american part of it, or the part that they could regulate, you know, they found all kinds of inconsistencies and things that should not be happening. >> liz: we're looking at a bitcoin pairing nearly all of its losses. that's pretty interesting here. right now we've got it down

about -- well, actually no, i'm sorry, $654 still at 36,923. we're watching it all, and eric, thank you, your experience in silicon valley for so many decades is quite valuable. i just want to let our viewers know, we will continue to be watching every single headline that's coming through on sam altman, zhao, and everything dealing with in the tech world. the video conferencing company that became a household name during the coronavirus pandemic for being the business version of hollywood squares now thinking outside the box to expand. zoom communications cfo here next live to tell us how she thinks ai could be the key to driving her company and the stock price higher.

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>> liz: well, the nasdaq still struggling off the lows of the session, certainly, and we're continuing to watch the tech heavy index because there have been so many earnings reports and breaking news pieces that swirl around the nasdaq. microsoft we should mention, well, yesterday it hit a record high. today it is down about 1 1/4 percent, but it is at the very center, very much so of what's going on with the sam altman open ai soap opera. and then we've got this nasdaq company, zoom, how does a company seemingly do everything right, and yet the stock gets meager love from wall street? well, zoom just posted a top and bottom line beat on earnings for the third quarter. profits came in at 1.29 billion -- sorry $1.29 and revenue beat by roughly 20 million dollars, up 3.6 percent year over year. actual revenue 1.4 billion. company still rolling out all kinds of new offerings including the zoom ai companion and zoom

docs. while megatech stocks metta and nvidia up 182 percent and 244 percent respectively this year, zoom is down 2.6 percent. what's the video conferencing leader's next move to reverse that? zoom cfo kelly steckelberg joins us now. you are in the hot seat, kelly. what are you going to do to get people to understand this stock and make them see that a beat is important and adding all kinds of enterprise customers is important? >> hi, liz. well, as you said, we were very pleased with our q3 results. we beat on the top and the bottom line and were able to raise our outlook for fy 24 for both revenue and operating margins. we also had some amazing milestones that we achieved. our zoom phone achieved 7 million seats sold. our fairly new zoom contact center grew to 700 customers.

also zoom ai companion, everybody loves to talk about ai, it's only been available for two months, and yet, we've had over 220,000 accounts activate that. so that's what we're focused on is, you know, reaccelerating growth in the platform, and that's going to come largely from zoom phone, from contact center, and then of course ai is a critical component that stretches across all aspects of our platform and really helps drive not only employee and customer engagement, but also love and retention. >> liz: again, you guys have just continued firing out the cannon all kinds of weaponry that people are adopting. it's showing in your numbers, and when you are doing everything right, and yet the stock still isn't moving, there is the question what more could you do that isn't necessarily product innovation? you know, there are some investors who are simply asking you guys have a big chunk of

cash on the balance sheet, why not do -- i think it may be a little early to ask for a dividend, but maybe a one time special dividend for shareholders? >> yeah, i think what investors are looking for is first of all stabilization in the online segment of our business and reacceleration of growth in the direct segment of our business, and we certainly do have resources that we can deploy, and we think about how to achieve that every single day. it could be organically, by continuing to invest more in our product, engineering and our go to market teams. it could be as you indicate doing something inorganic. we think about m&a opportunities all the tile. we have historically deployed some of that cash to do a stock buyback. we do that very successfully historically, but we want to focus on leveraging our resources and our cash and preserve that flexibility to focus everything we can on driving top line growth. >> liz: yeah, i'm all for preserving cash, etc., but, you

know, i hear from shareholders of every company that we cover, and we want a special dividend. is it at least a possibility? >> we discuss our capital [inaudible] strategy every single quarter internally as well as with our board and continuously looking for opportunities to do what we think is best for the business and our shareholders. and that's the trade-off and the prioritization we make every single quarter. for now we're really focused on investing organically or inorganically to drive top line growth. >> liz: the low of the session was about $61 and change. right now you are off that trading around $65.78. maybe they like what you say, kelly, great to see you. thank you very much. >> thank you, liz. >> liz: kelly steckelberg, cfo of zoom communications which i know all of you guys are still using if you are in the workplace. we still are using it every single day even though we're back at work. ford keeping lightning in a

bottle. up next, what sagging electric vehicle demand means for ford's production and workforce? that's straight ahead. here's how some of the other automakers are trading before we get to ford. general motors, honda, stellantis, toyota, volkswagen, they are all moving lower by 2 percent or more. stay tuned. (sfx: stone wheel crafting) ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪

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s&p and the nasdaq of wins, there's no surprise. nobody should be panic stricken that we have, you know, a 76 point loss on the dow. we've got the s&p down 8 1/2. the nasdaq down 79. listen, the markets look pretty darn good year to date. you know what's looking pretty darn good right now? dick's sporting goods scoring big after beating analyst estimates for third quarter sales and revenue. okay. that is a huge turnaround compared to last quarter, when the company slashed its forecast. remember that? yeah, shares would like to forget it, but all better now, the sporting goods retailer raised its full year outlook, after reporting strong back to school sales. the stock is up 3 percent. we've got burlington also moving higher at the moment. let's call that soaring, 21 percent right now after topping profit and sales expectations for the third quarter, reporting triple the income compared the same quarter last year. the company expects total year

sales to increase 11 percent. what's driving it? they say cooler weather at the beginning of the month helped boost sales and the off price department store is confident about how it sets for holiday sales. baidu also faring pretty well, shares up about 2 1/2 because they beat expectations. the growth was slightly lower than the previous quarter when the tech giant reported a 15 percent jump, but the company that runs the ai-powered chat bot says it is not worried about new u.s. chip restrictions for chinese companies because they have, quote, a substantial reserve of ai chips that can allow the company to keep improving ernie bot for the next year or two. investors are hitting the brakes on ford, which is down 1 1/2 percent, after the company announced it is scaling back its michigan battery plant. the automaker says it will produce 40 percent fewer ba batteries and employ about 1700

workers. that's down from the original 2500 that had been announced. ford paused construction in september to reassess its ability to operate the plant. the maker of the f-150 all electric lightning cites slower demand for evs as the reason for the scaled-down factory. right now ford's at $10.19. let's shift to the housing market. it may be frozen over with high mortgage rates and very thin inventory, but the red fin ceo is here next to tell us what he -- could break up the icy logjam this holiday season. and trivia time, you guys. everybody listening? he's one of the only people apple co founder steve jobs ever be begged multiple times to join apple's board. why? because jobs loved drexler's eye for designing stores. this is as he wanted to open the apple stores. drexler had overhauled gap stores when he became ceo in 95,

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>> liz: breaking news the

department of justice holding a press conference to announce the settle with binance, the crypto exchange and its founder. you can see attorney general garland and right behind him is treasury secretary yellen. they will officially announce right now a 4 billion dollars deal on behalf of binance and the former ceo zhao. binance has agreed to pay more than 4 billion dollars to settle multiple criminal charges. zhao has pled guilty in federal court in seattle an hour or two ago to one count of failure to maintain an effective money laundering program. binance has a whole bunch of other issues it's facing, violating bank secrecy laws and more. this is of course the world's largest crypto currency exchange and as we look at bitcoin right now, it is off the lows, just about -- let's call it 40 minutes ago. it was down more than $600. now it is down 523, slight slight improvement here.

ethereum still lower by $35. light coin down $1.35. we will monitor that and keep you posted on any developments. let's turn to the housing market. october existing home sales have fallen to the lowest level -- you have to go back to august of 2010. the national realtor's association reported 3.79 million existing homes were listed for sale in october. that's down 4.1 percent month over month. but morgan stanley's new housing forecast claims that for homeowners who can wait, relief may be coming, with the investment firm expecting prices to fall 3 percent by the end of next year. when we say home owners, we mean would be homeowners or homeowners who want to sell and then move into a different home, but what does this mean now with mortgage rates still above 7 percent and the housing supply so incredibly tight? let's bring in somebody we hope knows. ceo of real estate giant red fin. know you are wiping the sweat off your brow, glen.

this number -- i sit here over the past more than a year and say the numbers are falling because there's nothing to buy. it's that thin inventory. is that a fair assessment? >> it is a fair assessment. rates were close to 8 percent in october and now they are closer to 7 1/2. there's been a change in the market disturbance in the force where we sering inventory -- we are seeing inventory start to increase both because people are listing homes and because old listings aren't selling. one in five homes have had price drops. what that bank said about prices coming down for the first time seems not just possible but likely. >> liz: one in five are dropping their price. i look sometimes in different areas where off little dream oh i would love to have a little holiday home or something like that. it's price cut, price cut, price cut. that's not just one particular region. where are you seeing the biggest

price cuts. >> really in middle class and affordable homes. the luxury market where you may be looking for a ski shack, liz, is less likely to have price cuts but across the board, people are cutting prices. that happens at the end of the summer season because people haven't been able to sell in june and july, so they mark the property down to get it sold by the end of the year. it is just happening more now and almost than any time in the past. for the first time there's a break in the logjam where we might see a real drop in prices, and that is going to spur sales. the market has just been frozen because buyers and sellers can't agree on a price. >> liz: they can't agree because it is the old the seller thinks it is worth more and the buyer thinks it's worth or wants it to be worth less. this frozen tundra has been the cosmic crash if you will of higher mortgage rates, which arguably 7 percent not historically, but recent history are still pretty high for psychological reasons for many people. plus the thin inventory, but now as you start to see that

movement, where are the areas that you feel will have the most inventory right now? >> oh, the sun belt, so investor activity is down 40 percent in the sun belt. if you look at a place even like austin, texas, where there was so much air bnb activity. people were buying houses and trying to build an air bnb empire. property taxes came due in the fall and so many people are trying to get out of that market to avoid paying the tax. that was one of first places where we saw prices soften. if you go west across the american southwest, you will see the same thing. one place that is still doing relatively well is florida, though. so many people want to move there that even though the market is soft, florida is pretty strong. >> liz: that is -- i would expect that from florida, but austin was sizzling, was it not? >> yeah, well, the market give, the market take in places that really went sky high, like boise

or portland or austin, texas, they just came crashing back down to earth. it's sort of a thin market in some of these places because so many people wanted to move and there were so few homes that prices shot up at unsustainable rates and now it is hard on the people who live there because they are looking back six months and saying what if i had sold in 2022 or even at the beginning of 2023, what could i have gotten? they are unwilling to market down -- at least they were till quite recently. >> liz: are prices climbing in detroit, did i see that? >> that is also one of the strongest areas. it is so affordable, and if you go a little bit beyond detroit, to grand rapids, michigan, that's one of the strongest markets in the country. you see the same effect in the far-flung regions of new york state, so rochester, albany are doing reasonably well. people are just able to commute from a very long distance or live a remote life in the same state, and that has kept those markets going fairly strong. >> liz: glenn, redfin just put

out an article, ten tips for selling your home during the holidays. what are the tips for buying a home during the holidays, if people want to treat themselves? i get the selling, but buying homes, like what is the strategy to making sure you get the best deal when buying a home? >> well, number one, you've got to date the rate and marry the house. i tell people regardless of the season, that you want to make sure you really love the property because it is hard to make a good financial decision if you hate the house. it is hard to make a bad one if you love the house and you're going to live in it for a long time. i think some people at the end of the season feel some fatigue. we were looking in the summer. we were looking in the fall. don't settle. hold out. more inventory is coming in january and february. so you can get a good deal. there are some sellers who are really motivated, and that's why people are in the market right now at the end of the year, but do that because it's the house you want, not just because somebody has dropped their price. that's my advice.

>> liz: yeah, don't fall for the trick when the seller is baking cookies when you come to look at the house. that's the old trick. oh, the house -- this is so homey and i'm baking cookies. love the house, not the scent of the cookies. great to see you, glenn. thank you very much. happy holidays to you and your family. thank you very much. the world's richest man goes thermo nuclear. charlie breaks it on elon musk's new lawsuit against media matters for its report that sent advertisers scurrying away from x. there is news on that. the global x social media etf ticker socl up 24 percent year to date. unfortunately, for elon, it is a private company over at x, he bought it for 44 billion. it is worth just a fraction of that right now. today we are coming right back amidst a little bit of a sell-off in the market. stay tuned. ons or moments that matter,

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liz: well he threatened he would do it and now elon musk's x filed lawsuit against media matters. after the non-profit put out a report that x was running ads next to pro-nazi content which

triggered major names from ibm, apple, disney, comcast, warner brothers discovery and more to pull their ads at the platform at a very time he is trying to get more advertising back. joining us with the latest, charlie gasparino. >> liz, the lawsuit is public. it is out there. we have interesting detail going on behind the scenes with linda yaccarino and what they're trying to do. >> they're using the evidence they have gotten and it sounds compelling. i spent time on the phone how they think media matters manipulated algorithms that led to a neo-nazi users next to an ibm ad. in any event that is going on right now. they feel increasingly confident, that is what they tell me, not saying it is happening they can get most of these people back. there may not be a grand announcement they're telling me,

everybody is going to come back but you know, they do believe that they have a compelling case, ibms, the disney, everything else is listening because here is what they're hitting them with. i find it fascinating if it is true. media matters did not return email for comment. i should point out this is coming from x. what they're saying the minute they saw that story they did an investigation. they were trying to figure out how a user experience for most people, i never see neo-nazi stuff or anything on my page. it is obviously not what i search for. i get a lot of dog, you know, stuff about dogs and working out and food but how do you get those two together? how do you get an ibm ad next to displayed with, some crazy account? and what they did was they found out that the one, only way you can really do it, according to them, is if you create a fake

account. you create the fake account and then you essentially follow both a lot of nazis, neo-nazis or bad content and a lot of companies and you keep refreshing your screen so you get the algorithm used to you, you know, engaging with those two types of sources and that's when they start popping up together. liz: but they have popped up together? that's the problem, charlie. >> they popped up together on only if you search those two things constantly and what they found out is that 95% of the searches out there that go on have nothing to do with this because only, if you have to purposely search those two things. we should point out there are nazis on twitter. you know, there are nazis watching tv who buy soap, right? does that mean dove should pull its ads from cable? you see what i'm saying here?

liz: 90% of twitter's revenue comes from ads. he is trying to get more than that. >> you understand what i'm saying right? liz: of course. >> if you're in a purely passive environment on twitter you are not, those two things aren't coming up. the way they come up is if you force them to come up is what twitter is saying. they're making that case to every major advertiser. it seems compelling to me. liz: is there number attached how much they're suing for? >> not yet. i don't give the lawsuit a lot of -- liz: will they foal through really, elon? >> he is going to sue them. he has got the money to sue them. that is what happens if you're the richest guy and you sue them. i can get them in court if there is discovery, this stuff might come out in discovery that could be very embarrassing for media matters. media matters has money too. soros backs them up. liz: it is right for any advertiser to pull their advertising especially unrelated

elon commenting on things upsetting. all twitter will have left is beet supplements and caffeine ads. >> there are two issues here. i'm not defending either one. elon reading something that was stupid, he probably didn't read all of it, he would have a gut reaction. he has a problem with the adl is very woke. that it supports black lives matter. i'm just giving you his side. i'm not saying i agree with it, then there is this thing which is interesting. i never see neo-nazi stuff. liz: i do. >> you have to look. liz: not necessarily. >> it is not popping up with ibm ads. it has to be forced. >> depends with the whole issue with youtube with porn ads cop popping up with companies totally unrelated. >> if you look up a lot of important you you you will get porn ads. i brought neil cavuto, hoodie

with dad bods. every day i searched i get ads for dad bods. liz: that is what comes up with advertising. nothing against catheter ads. my dad was urologist. that is what we're looking at. >> by the way i had a catheter once. liz: thank thank you. the dow is on pace to snap a two-day winning streak. s&p and nasdaq to break five session winning streaks. at the moment these are minor lows. if you want to be in both medical and defense sectors. we talk about both usually separately, our "countdown" closer has a name that can hit them both in your portfolio. according to essex senior coportfolio manager nancy brile. this is interesting, nancy. they want to be in medical tech. perhaps they want to be in defense. say there is one particular name you like in both?

>> there is bwx technologies, bwxt is the ticker. they are provider of variety of nuclear power products. their big business is supplying the defense industry, particular letter the navy with nuclear submarines and nuclear components. they also recently won contracts with the air force and there are even some applications in space but they have a new growing business in nuclear medicine particularly with nuclear medicine and using radiation as a treatment for cancer. so we think these are two really interesting growth opportunities that should power their growth, no pun intended going forward and there's also a little bit of a bluebird in that they have some technology that can be used in nation nuclear reactors if we ever turn to using nuclear power in this country. liz: seven billion dollar market cap. year-to-date it is up 34%. we're watching it closely. and nancy, let me ask you a bigger picture.

we got the fed minutes from the most recent meeting, it was nothing, nothing big except everyone is asking when the fed will cut versus another rate hike. when do you foresee the first rate cut? >> i'm fairly cautious on the first cut. it is because i'm concerned that the fed may be as slow to react on cutting as they were frankly to react on raising rates. i think they're quite concerned that they don't want to cut too soon. liz: okay. >> we think they will continue to pause. we don't see any increases coming. but i don't know that they will cut until we see some actual economic weakness, probably middle of the year. [closing bell rings] liz: nancy prime thanks for having. maybe it a great holiday. we have stu leonard ceo, stew leonard, jr., talking food and prices. david: hello, everyone. welcome to a special edition of "kudlow." i'm david asman in for larry kudlow. the israeli war cabinet is meeting right now possibly t