trump. that's what we did in the administration and arm the ukrainians and we're respectful to china and russia and we didn't denigrate them and we were firm with them and trump was firm with the red lines and he gave ukraine the military hardware it needed to help deter russia. it was the biden administration that got rid of the nord stream 2 pipeline within basically the first 90 days and obviously the biden team failed to deter putin and trump was not going fail at that the way they have.

liz. the sectors and stocks that are surging and some staggering and you can see where your portfolio will be most affected. the dow ripping to a record. this is the first 1,000 point gain for the index in two years. and right now 1,439 points added to index and touching never before seen peaks to the dow heat maps and seven components and goldman sachs, jp morgan, caterpillar, visa, amazon, earlier wal-mart all smashed through the previous all time high. cisco hit ago one year high by the way. honorable mention here and nvidia, which joins the dow 30 this friday and also blasting to a record. right now the ai chip leader is

jumping and bringing a market cap from stunning 3.58 trillion and the trump trade on full display in the nasdaq and it's well above their previous records and look at s&p 500. we've got it up 140 points and 2.5% and then the nasdaq soaring 523% or 2523 points or 2.8% here very close to 19,000 and folks we're at 18,964. as the bulls stampede, the vix will fear index and basically collapsing if we've got the vix diving at the moment. 20% to the downside here and saw on the dow heat map and goldman and jp morgan are leading the pack and financials in your portfolio and no fear there and crushing it and the crypto

crowd, forget about it. nougat doing wild and bitcoin surges to all time high of 7 $75,060. and right now at $75,940. continuing to climb and climb right now but related etf stock going to spike in the crypto verse. remember, for months donald trump positioned himself as pro crypto and he showed up at big crypto events and crypto bars and back in september. and all the crypto stocks up 20-30%. crypto capitol of the planet. to bond yields, they're soaring at what treasury trackers see as a worry some rate here at long end of the curve, the 10 year yield is up 16 basis points.

30 year up 17 and prices are melting down and bond market worry that had trump propsed tax cuts and tariffs will be inflationary. to that ends overnight and rocketing to the highest level since july 1. today it stands at 6.9%. a week ago it was at 6.86%. seat four basis point gain and terrible news for home builder stocks and it makes borrowing to buy a home much more expensive and see with the home builders and leonard down and toll brothers and look at green back if we can do that, u.s. dollar went parabolic on news that trump won the election. surging to the strongest level in a year against the world's major currencies. meaning goods made in the u.s. will be more expensive to overseas buyers with such pronounced moves across the

board and across a broad swath of the capital markets, huge swath of trades. 4x, stock indexes, metals going through the cme and the place and take to chicago and the man in charge of cme and chairman ceo of the chairman group and i pulled you out of meeting to do that and get on air with us but we're looking at epic move with the president elect. >> 242016 there was a man by the name of donald trump for them and donald trump was elected and they want to congratulate them and vice president going for them and it's the team and we are seeing multiple volume

explosion in all of the asset classes today and you referenced it and outlier is the volume is up significantly liz. it's the treasury going for that and wise one thinks you would be count tore what the president policies are going for them and interest rates are trading all over the place and gold volume is tripled and on a daily basis and it's down 3% and traditionally correlates with rates and taken a bit of i did versus frequency janice and look at crude oil market and drill baby drill is what president trump's mantra is and we're not see ago lot of activity with donald trump and would be the case with that typof president

trump and the contracts a day. we're going to surpass the bilgest day in bitcoin and the price you referenced, $75,000 of bitcoin. it's explosive to the upside and it's been pretty exciting here. cme today we go through all the different volumes, and we're going to have a very large day. not a record day but one of the larger days. liz: i'm looking at 32.7 million for the day as far as your volunteers and geum is concerned. that would be well over the october; right? >> yeah, october was 25.5 million a day and the volume last month and we're continuing and we have a little still sometime to go on the clock and the last hour gets pretty exciting in the marketplace and we'll see what happens here. but i think one of the reasons we're not seeing more volume is because the equity markets you

referenced, liz, opened up at these extraordinary levels and it just kind of sat there while some of the other products bounced around a lot more. liz: yeah, maybe the fact that today the federal reserve began its two day meeting on interest rate policy. i got to ask you, you guys are in charge of the fed funds futures down at cme. this is of course the opportunity for people to take bets on what they think interest rates will do. the expectation and 25 basis point cut tomorrow and >> what are you seeing with the future s? >> there's a 99% probability and the fed will cut by 25 basis points and a question that will be like anything and he wills what's next, liz? everybody is looking past tomorrow and to the next.

start to focus on the fed funds areas and going for the rates and they're going with the overnight lending rate and it's interesting and obviously we have to look at all the different cabinet picks to put in place and all the policies that we talk about a tremendous amount of promise on the campaign trail. we all know how campaigns work and now we need to enact the certain policies going forward and california, prop 47 kind of got taken down with prop 36 and basically taken tellnies and making them into -- taking into felonies into minor infractions. this isn't a big deal and i do believe that the american people az as they listen, they want a lawful society and that was some of the proposals around the nation and pretty interesting

stuff and independent candidate for lada in nathan hockman was here just a few days ago and he won and took it from the incumbent who was a democrat on that be tough on crime standpoint and i do have to ask you about the energy complex, terry. earlier, it was october 31st, i was looking at this and cme saw some pretty dramatic move coming to nat gas and henry hub futures and give me a sense here of the global benchmark and henry hub future contract reached a record on halloween. 1.73 million contracts and 25% of total trading originating outside of the u.s.. donald trump has been clear to drill more and we're already make it clear at record production and the biden administration is the real opportunity in those particular contracts and going to see more increases. >> the question is look at natural gas and going for them to provide the lineup and the

united states is more natural gas than any other in the country and natural planet and natural gas is very excit excitd that's such a territory and going for them and natural gas and liquefied them in the country and much cheaper rate than they're paying today and playing fuels and going for them to absolutely have one of our products here at cme that can continue to grow. and liz: i would imagine on record volume that's great for cme. you can blame us at the claman countdown when i go back to the meeting and we're snuffing out and thank you, it's a really important day for the market and you are the guy. >> you're so welcome but i blame you. liz. that's you, my friend. thank you very much. keep it right here on fox

business. the federal reserve decision rate and that's rate decision tomorrow and 2:00 p.m. eastern and followed by the big conference and fed chair news conference and reporters are peppered him with questions and this one will be really interesting tomorrow so it spills over into this hour and into the claman countdown and it has the potential to really have the markets and going to have complete reaction for all of it and chief economist and diane swamp and he's going to be part of the post-presser analysis and latest on the semiconductor moves and arm holdings earnings with ceo m loss and all tomorrow on the -- ceo hoss and going down on them and jay powell expecting to stay on at the federal reserve. in a new presidency for donald trump. beijing bracing for a bitter battle for trade as president trump promises tariffs of 60% or more on goods from china.

that prospect sending chinese stocks south ward. top investor and china hawk kyle bass of hay man capital is here of how the trump victory could change the face of global trade and u.s. stocks you might own. claman countdown is coming right back. (♪) (♪) voltaren... for long lasting arthritis pain relief. (♪)

liz: close l bell rings in 45 minutes and we showed you the selloff in chinese equities and president elect trump planned to slap tariffs on chinese made goods and that props is turning out to be a double enemiesed saturday at this hour.

u.s. home improvement stocks rely on imported materials and more from china and are now plumbing at the moment and home depot down nearly 3% lows and down 3% and look at furniture and home goods chain obliterated and tumbling 12.25% and it's a 52 week low and does it pretend to dark a future for companies in their stocks and rely on chinese imports and kyle bass and he's been a long time and outspoken china hawk. donald trump has threatened to slap as much as 60% tariffs on anything chinese made coming into this country. seeing the post election selloff in stocks with china exposure and includes nike. nike is falling to the bottom of the dow jones and dollar three getting hammered and dollar general. how do you view the promise

targets? tariffs, sorry. >> i think it's important to note that we have had all of the indications of xi jinping's bridge rantz and limited partnership -- belligerence going with them and it's an access of evil that the allied west is now up against and going to move a line for them saying in the office and they have u.s. national security going to step up to the private sector and i'll be speaking for them and leadership itself is what it takes to wean ourselves off of being completely connected with our mortal enemy and china showing you that it's shown us whether you read the national

intelligence with a report to congress here and listen to the fbi director wray and going for them and the competitor and boundary and friends of nothing of the sort. i think it's important for them paying the price for not moving their supply chains out and supply administration going for them and russell is working very quickly and when you look at how government usually works us slowly to wrestle at least back to the united states and we got burned during the supply chain and disaster post covid and you made a really strong statement about 25 and the place it's done with the belligerence of xi jinping and i would tend to agree with you on that power and donald trump is sort of a checkered relationship with xi and when you look at what he's

said he's the one that got very tough and tariffs and by the same token, he's invited xi to mar-a-lago and praise with liking him a lot and does is sit well with someone like you? >> it's a special negotiating style and calls you a friend and he could be your adversary and bill clinton keeping his friends close to his enemies closer and his national security council and secretary of state. they did a j yeoman's job of bringing the guy to risk and all

of this did a tremendous job. trump is the chairman of the board and there's a real tough time for this and making them feel like your friend is has a negotiating style and i can tell you if you talk to leadership is and we understand they have them going with the partnership and going for them with the intelligence psychoer and military perspective and going to prepare for a potential hot war with the adversaries and think about that for a second, liz. and donald trump building

millions into the build of a navy in modern history in the fastest nuclear proliferation we've ever seen and at some point in time, our stupidity feels like it's stopping now. liz: some goes right to russia, kyle, russia has been very worry some hitocracy going for them and the administration is going to respect the fast track or rush through the last $6 billion in aid to ukraine before the trump administration getting into place and you've been very, very support i of ukraine and it feels like donald trump has said in the past i'll end this war in a day and i'll strike a deal with putin and that's dis-concerning to better eastern europe and is it not to you as well? >> again, it's just a negotiating style and what does

that mean? does that mean we're going to sign another municipal ick agreement and, i we're going to give putin advances and call it a day. you know how that will work. he'll reach and attack again and again if history was our guide, that better not be our strategy. you can't give a belligerent war criminal his advances and draw a new line and that doesn't teach him what he needs to be taught. these people only understand brute force. that's what they understand. i hope it's tom cotton and his national security could believe council going to be. so it's tough for me to not know who all the players are yet and trump's negotiating style and he's saying we're going to pull out of nato if they don't fund up to that and it's a brilliant

maneuver and when he said that there were only three of 3 # members and going for them and standard and now close. liz: it's like 18. >> exactly, it's 18 of 31. so whether you like it or not, he's effective. he is an effective negotiator and we have to make sure that the people surrounding him, the people advising him are the best of the best. because he actually had some of the best last time. liz: kyle, get to see you, thank you very, very much. kyle bass, the trump trade is torching pot stocks and cannabis names getting burned after election results in one particular state and we're going to tell you what happened and why those stocks are going up in smoke. plus, what happens with marijuana legislation and other big business laws on the congressional docket and now that the gop controls the senate and fox news sunday anchor shannon bream is coming up live and trump, don't forget flip georgia back to red last night.

we're going to get the juice from the peak state and georgia secretary of state next. the claman countdown is coming right back and dow increasing gains now up 1,512 points. three and a half percent. that work better together. like your workplace benefits and retirement savings. presentation looks great. thanks! thanks! voya provides tools that help you make the right investment and benefit choices so you can reach today's financial goals. that one! and look forward, to a more confident future. that is one dynamic duo. voya, well planned, well invested, well protected.

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liz: big rally for the markets and across several segments and we're hitting all of them through this hour and sox index. this is a basket of

semiconductors and climbing more than 3% and most of the semi names are jumping along with the broaderrer market and supermicro computer is not flying and once a flying high ai is following earnston young's resignation and shares plunging another company cut its sales targets for the next two quarters and supermicro blames shortage of latest ai prosessers and the company is getting it from all ends. the company also failed to provide any clarity on when it'll deliver its annual report and by the way was due back on august 29th. returning to compliance with the financial reporting and failing with the nasdaq requirements and smci could be delisted from the

exchange. shares are now down more than 80% since the peak back in march. related but certainly not in the way the stock is moving and chip designer arm holdings gaining 3.75% and earnings out after the bell and shares up 91% year-to-date. ceo renee hass joining the claman countdown tomorrow and picking his brain about all the action that's happening in his world. there's so much because of ai chip demand. getting cold shoulder from investors and shares of energy drink maker sinking six and two-thirds% and earnings missed expectations and sells yous, that's been a real high flier says its major distributer going to be about reducing orders of the work to optimize its inventory levels and ceo said that had an outsized adverse impact on the results and pop

stocks going for them and rejecting recreational marijuana and initiatives to legalize recreational marijuana in north dakota and south dakota failed to receive enough votes and see the names, canopy growth, diving 2.5% and true leaf cannabis, this is getting smacked around down 38%. powering republican bernie moreno and grab control of the senate and fox news sunday host shannon bream is up next on how the changing face of congress and potentially the supreme court might affect legislation and businesses. and the shifting electorate in the beach state, trump taking back georgia after a loss there four years ago. we've got the man responsible

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am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management liz: we really should punch up hospital stocks here and there they are. hospital operators are looking sickly at this hour on the heels of donald trump's white house win. investors are anticipating that the president elect may crack down on obama care subsidies that reduce premium costs, which could end up impacting some people's ability to pay hospitals for care. keep in mind if trump pushes for any healthcare policy change, he'd have to go through congress for that. balance of power making a dramatic shift to the right after the trump win last night, republicans have taken control of the senate. the gop successfully flipped three democratic seats with three races left to be called

and we have just received confirmation that incumbent democratic michigan senator elise slotkin has beaten out gop challenger mike rogers. control of the house, despite that still up in the air. 52 undecided races will determine whether republicans can retain control of the lower chamber or whether democrats can grab it. joining me now, somebody who's closely been following the balance of power, fox news sunday anchor shannon bream. shannon, what a night and an overnight. give us your sense about the balance of power. do you think the house stays with the republican control? >> listen, if you listen to their press releases today, they're feeling confident about that. they knew that it would be a challenging night. democrats had way outraised them when it came to the house races. they'd spent a lot more and felt good about the candidates they had in place but so far looks like a mixed bag and republicans are really starting to feel like as they start seeing big races come in in places like new york

and california, we thought the coast may dictate control of the house and they feel good about where they are up in the senate and now the republicans are resoundingly flipped control and still a number of outstanding races and watching arizona and nevada and tight and a lot of votes and going for arizona and it could be days to know and last time around it was december before the dust settled. liz: it's a more decisive change looking at races and if the house does stay republican, and we've already got a senate that is republican, should donald trump see that essentially as a black check to push through policy and what do you think about it? there are still some old school fiscal conservatives who are in congress. i believe if you listen to some of them and they'd like to see

that any of the tax cut is brought about and a way to pay for it and cut something before you give something. >> yeah, i think if republicans do hold on to the house, it'll be a very tight majority like they've been dealing with and, liz, you know covering this, that's made it very difficult for them to move thing of any substance and the parties with fractures and that's true for democrats and for republicans. so holding the house together if republicans do win, he now will have to make an argument to all factions of his party, but also there's going to be a big spotlight on him if they say listen, voters have given you the white house, the senate, and potentially if they do give them the house. what are your solutions for the fiscal issues for the border? all of these different things that you campaigned on, sometimes it's easier to be the critic, and the outsider getting back in and it's getting a whole other thing and midterms going in about five minutes and there's going to be a lot of

pressure for republicans to enjoy place to actually get things across the finish line. liz: the supreme court is obviously very much in focus here and when you look at what happens there, we as a business network watch a lot of decisions that come and cases that come to their docket, do have a very big implication about certain businesses and it's been six years sin the supreme court struck down the sports betting and since then, 39 states have legalized it and it's become a big boom and all kinds of betting stocks in the line coming down and there's a huge competition and a lot of hiring there and what do you think when you look at what could be coming up on the docket and the fact that there are two supreme court justices and you can see justice elito who is 74 years old and

clarence thomas is 76. do you see any movement that's coming out and he can then move in the faces. >> things are so divisive and they are often sticking together and in recent years we've seen justice gorsuch going with the trail that's been the most conservative part of the court and they, listen, have given decades and the first two you've mentioned elito and thomas may be ready to move on and certainly not going to do that unless there was a republican president that replaced them and had health and more going and see in the next couple of years there's moves on that front and i would say that the court is viewed for businesses and it's seismic changes back to administrative agencies in their regulatory power just in the last term or two alone. there's going to be a lot for

businesses going for them to read a pro business trend and critics don't like the pro business tend to like what they're going for them and it's the last couple years. liz: it's very pronounced and merger issue that's come about with the biden administration and how strict they've been about approving any kind of merger and acquisitions and that's expected to loosen up and change and new trump administration and going for shannon, thank you very much. shannon bream, turning attention to the dow bug here, we are up 1,514 points and the nasdaq gaining 547 points and it's the dow that's the percentage leader up 3.5% and we are commercial free and we're going to not take our commercial breaks here and this is our pretty epic rally that we're watching across the

board. g the political skew cannot be emphasized enough. if there was one state, you know, you think back and re-wine the clock to 2020. if there were one state that was ground zero of all the drama during that 2020 presidential election, it was georgia. after three recounts that took days. president joe biden narrowly won the state by just over 11,000 votes and this time around, 12:48 a.m. eastern this morning and fox news this morning and calling for them and donald trump and it gleamed him 16 electoral votes and former president won the key battleground state over vice president harris and 58% to 48.5% and georgia had to deal with challenges during the voting period this time around. 32 bomb threats, which by the way turned out to not be credible, made to atlanta area polling locations in fulton county and threats made to five different polling places and traced back to russia and its

operatives and voting was briefly disrupted and voting hours is extended to accommodate the disruption and the guy that planned for all of it and had backups and he was prepared for anything so everything could run smoothly and transparently and not disrupt the elections in the swing state and joined by georgia secretary of state. the results were not interrupted despite the efforts of these bad actors. what did you put into place to be prepared for anything and everything? >> well, we had done security round tables and one of those was if there's a bomb scare, we didn't expect in our planning to have 30 plus of those but in spite of that, they've reported early voting and they've got it up there by 8:00 p.m. and going for them to make sure we get the results up quick. we got those up there and one hour after the election and we had about 70% of people in

georgia voting and 5% vote absentee and that was up loaded very quickly and by 9:00 at the latest all up on the big board and everyone can see how the election was going. yes, the russians tried hard to cause disruptions and it's not working and continued voting and about four precincts that they had an extra 20 minutes and 30 minutes as they went through the polling location. liz: great job to you and law enforcement for foiling the russians and i think i'm curious and my viewers would be curious and how was it traced back to russia? >> the problem they had was working on it and the first half and that morning we knew from the feds and afternoon confirmed it was e-mail out to all law enforcement and law enforcement knew it was a hoax and therefore they placed it down and it's a

threat and if you ask for the dogs to come through and sniff and they did and we continued on and they didn't interrupt it. still got results up real quick. probably fastest in the nation and maybe just a few seconds behind florida and they've been doing this for 20 years and state law and that was important and we had the shortest time in the country. put that in state law and lines had to be shorter than one hour. average wait time in georgia was three minutes and we tracked that and got us low as one minute in some points and then the poll pads, electronic poll pads we had, checking people in 47, 48 seconds and voting and walking out the door and people were waiting in long lines. liz: different cities in motion and going out for them and chicago downpour and georgia had more than 4 million voters cast their ballot in this election and look at them comparing the turnout to this compared to 2020. >> we actually had 4 million that came out early and that was

a record and then we had 1.2 million that came out yesterday and it was another record and coming up to another record and we had record upon record and we have photo id for all forms of voting id and absentee voting and i think it elevated with them and drastic confidence in the process and came up with experience and we put together short lines with great voter experience with photo id and having the cleanest voter list in the entire country. i've done two outrebounded audits ofcitizenship to make suy citizens are on the voter poll. liz: bill hemmer said your website you put in place is helpful and transparent where each time something came in and changed was right there on the website. >> we love technology and we tried to improve the voter experience.

liz: secretary of state in georgia, thank you so much. vice president kamala harris is expected to address the nation after conceding the race to donald trump. this according to the white house, harris will deliver remarks at alma mater howard university in washington dc in ten minutes and ten minutes from now and at 4:00 p.m. eastern and that of course headquarters support to gather for a victory party and on a huge crowd going for them right now. it's never been and a live picture of howard university and going for washington and we will wait to hear and we'll wait to see as we know our opponent and trump trade for our viewers is very important and it's in full force. steel stocks powering higher at this hour and new core steel dynamics and sources and u.s. steel and these are big and sometimes up 20% right now. arch up 12% and new corp. up 16%

and u.s. steel up 9% and we need to look at shares though of an un-related stock. that's down but djt, trump media and technology group. right now up 6.25% and this is incredibly volatile stock, which was halted at open briefly this morning and halted yesterday for volatility and widely seen as temperature gauge of trump's odds leading up to election night and going for tesla and tesla is the lead on the s&p 500 as ceo elon musk recreated his kitchen sink entrance to twitter headquarters. remember that? he had it super imposed over at the oval office and white house and ai generated image and stamped with a water mark there and that was kind of indicating it was going to cut everything and the kitchen sink at twitter, which he did. and now if he is tasked with doing that in the u.s. government, what will the

world's richest man do in a trump presidency. charlie gasparino joining us now. >> he's going to have a hard time. there's civil service and he wants to go in and cut the deep state. it's one of his main goals. if you know anything about the deep state, it's a lot of civil servants. there's a union at the sec attorney level and to cut the people going to be really hard and i know that people are dupply cat j jobs and going for government that don't need to be there and that's where we're at and kitchen sink is on the table and you can see stuff like executive order outlining dei and contracting, which i know people are bring up to the president elect trump and see again on the massive cut in the administrative state and it's going to be difficult and it's the service stuff and going to be performing with major institutions and going for them

with the exchange commitment. liz: we're talking about -- >> why is that red? liz: it's because it's off its highs. >> okay. liz: one week chart shows it's down. >> bounce from the highs. donald trump made a billion dollars today. just so you know. liz: charlie, talking about elon musk tasked with cutting waste and fraud and abuse and all that >> those are jobs. liz: he said $# trillion. he could find $2 trillion in cuts and look at budget and let's compare with lastier's numbers, fiscal year 2023. total -- sorry, 2024 this year. 6.75 trillion for 2024. now -- >> social security and military and all that . liz: 4.8 trillion is the entitlements that you don't touch. which donald trump said he will not touch social security or medicare and the non-mandatory leftover is 1.94 trillion and he's going to cut. you're going to cut more than 1.1 trillion. >> why would he need the

education department? liz: still doesn't come to 2 trillion. >> 500 billion. that would be wonderful and i think that the fact of the administrative state and by the way slows down law making and these are bureaucrats that have not been ele elected and superse congress in many cases and cut their jobs and get rid of them and have a functioning democracy. have a functioning government without these extra people is something good. i think it pays off more than just a money. i know elon is focusing on that and see if it happens and it's not that easy. one thing about aathis -- rathisberger. he was attacks, he and the governor, brian kemp were attacked for pushing a a law that was discriminatory, a voting law, it wasn't the case and he just showed it. they increased voting. jeff should apologize to him.

liz: that's record voting. >> the fact that the -- he got 100 ce os to document the ad in a new york time and the law is biased and discriminatory. it's not right. it's obviously not right. liz: look at this gain here. charlie, thank you very much. big rally here. closing bell, we're less than five minutes away. the dow is on the precipice of history and about to make its 41st record close of this year. the biggest day since november of 2022. zeroing in on its fourth largest daily point gain on record. right now we're up 1,510 points for the dow. big gains everywhere, but we haven't yet addressed russell 2000. look at gains for little guys and small and mid caps up about 5.13% at the moment. sorry, transports and that's 7% for the russell 2000 as we round out the close. that's something jason katz of ubs wants to talk about along

with cio of pence wealth managers andment. great to have you both. jason, biden administration as we look at what's going on can take credit for certainly 40 of the big records for the dow and 47 records for the s&p. are you >> i'm not. i think that there was a disproportionate amount of invest or s that were caught off and a lot of our cash is running into the market. liz: donald trump looks like he be friendlier to business, correct? >> tax friendly. take a hatchet to spending in the government friendly. you name it. the entrepreneurial spirits have awoke en the animal spirits. liz: regulatory release. if you look at the biden administration and lina khan whose the top regulator of merge lackeys and acquisitions they have stymied so many of them. we could put up a whole bunch

and show you how many mergers and acquisitions have been shutdown by this administration, and you look at today. these were the deals that were delayed or blocked by the fcc just recently. tapestry and capri holdings. nope, not allowed. albertsons, kroger, some are still in play. amazon gave up on i-robot, because they said you know what? there is just going to be a big no from the government. that said, today, you look at two stocks. capital one financial trying to merge with discover financial. both of those stocks are roaring higher. what do you expect when it comes to mergers and acquisitions and is that a good thing for shareholders but also consumers? >> i think it is a good thing for shareholders and consumers, because it allows capital flow freely into areas that are expanding over time, and when you take a look at development of a.i., companies that need to be bought, capital that needs to be moved around, when you open up the freedom of capital to do that, you get better results

over time. so it's all of these companies that need to get this done so they can be better aligned, better profitability, better for consumers and better for investors. liz: okay except for oil and gold right now which are both pulling back, jason, what would you be buying today? >> on this theme of m&a, you have to look to small caps which are generally the target of m&a. you have to look at banks. look at small cap banks in particular. so, i'd be focused on small cap, i'd be focused on industrials with the america-first, it's really a buy everything rally with the exception of what? solar. liz: yeah, and gold. the green energy, but interestingly enough, green energy did extraordinarily well under donald trump. well fossil fuels stocks did much better under biden versus trump so it's really hard to tell. what would you be purchasing right now? >> well, interestingly enough, i think one of the things we like is a company like uri, because we've got to rebuild infrastructure in this country,

and they rent equipment. they are dominant in that marketplace. we have a $500 billion we're spending on roads and bridges so in the small cap and mid cap space we think they are a dominant player and with that much money being spent we've got to rebuild all our roads and bridges. they are dominant in that space and also you're going to see with all of the mergers and acquisitions you'll see a lot of the smaller a.i. companies. you'll have this feeding frenzy, so it's kind of an all of the above and that kind of space as you move forward. liz: here comes the closing bell, and the much talked about federal reserve meeting which kicked off today, we get the announcement tomorrow. >> [closing bell ringing] liz: do not miss this show. folks queue the fireworks. the major average, dow, s&p and nasal close at fresh record highs. that's going to do it for the "clayman countdown." kudlow is next. larry: hello, folks. welcome to kudlow, i'm larry kudlow. so, voters are smart.