as ed liz _ favourite with the tory grassroots. as ed liz trust at the job.r a year. for different _ the reshuffle for a year. for different reasons they are both guite _ different reasons they are both quite competitive contenders if you end up— quite competitive contenders if you end up in— quite competitive contenders if you end up in a — quite competitive contenders if you end up in a leadership contest i think— end up in a leadership contest i think they— end up in a leadership contest i think they will be seen as the two to he _ think they will be seen as the two to he the — think they will be seen as the two to be the front runners was that i would _ to be the front runners was that i would hear— to be the front runners was that i would near a leadership contest was back ili— would near a leadership contest was back ill be — would near a leadership contest was back i'll be surprised if that would happen— back i'll be surprised if that would happen overnight. i think probably the better way to look at it is, the past four— the better way to look at it i

liz: ed, great to have you.but you make the case as we watch the dow jones industrials losing some of these gains. could we in the next 20 seconds go negative? we're up eight points for the dow. [closing bell rings] nasdaq closing down 1.7%. a mixed finish, but the best week so far for the s&p since february. that will do it for us, you'd "kudlow" is next ♪ larry: hello, everyone, welcome to "kudlow," i'm larry kudlow. there wasn't really much in today's papers about the russian ukraine grab in the putin-biden meeting but late in the day come as jaw-dropping news story from the associated press, that administration officials that the u.s. will press ukraine to formally cede a measure of autonomy to eastern you drain can lands controlled by

liz: [laughter] i know. nobody can claim they were shock ed, kenny, scott -- >> exactly. liz: just watch us everybody we'll keep you posted on every flag along the road. okay guys we're getting breaking news, reports that president biden's team is considering sanctioning russia in its effort to discourage any military action in ukraine which appears to be imminent because there is something like 90-100,000 troops , russian troops, near the ukraine border. this just ahead of the president 's call with russia 's vladimir putin tomorrow and the russian news comes after the president spoke at the white house moments ago about lowering prescription drug prices. to edward lawrence whose on all of the news at the white house as a diplomatic boycott of the beijing winter olympics is also in play. edward? reporter: understand reportedly the treasury department is working on those sanctions and looking at the energy sector as well as the banking sector in russia, to possibly be sanctioned if there's some movement related to ukraine. now, back on what president biden was doing today.

liz peek. i encourage your viewers to go to foxnews.com, look up the opinion piece, the latest op-ed from liz peek's get back to the markets, bring in dennis gartman. dennis, i read your note and it was pretty ominous to be honest with you. you say the blow-off rally is underway. most are calling this a santa claus rally. so what exactly does the blow move off rally mean? >> it is amazing in markets when i watch them 50 years, whether you talk about commodities, whether you talk about bonds, whether you talk about energy, whether you talk about equities, inevitably, i shouldn't say inevitably, last 10% of time frame for any market you get a blast to the upside as volumes dekline, shorts begin to cover. finally throw up their hands to say i'm wrong. they move to cover, speculators come in and are aggressive buyers. it happens time and time again. i think we're seeing that now as everybody embraces dances with tina. there are plenty of alternatives of the cash is a alternative. stocks with high difference lends are alternative. commodities may be an alternative. gold may be an alternative but right

liz: siri, play ironic by alanis morissette and then, of course, it links to the op-ed. >> do you kw ve been the one -- >> screw over ripple. there you go. crypto friday. liz: well, likes how fox business and this show in particular -- >> we've been covering it like crazy, and we're leading the coverage of crypto because, you know, we don't take sides and, obviously, we cover both sides. and i always give jay clayton, bill hindman, ethereum, all the players -- obviously, ripple -- we give everyone a chance the comment if. liz: of course. >> gary gensler, your buddy, they can choose not to comment. [laughter] liz: gary, come on the show. i don't bite. gaspo, thank you. and by the way, charlie is my best on this week's edition of my everyone talks to liz podcast, and before you turn the channel, you have got to hear it. he's revealing his christmas day dinner recipes -- >> by the way, we didn't get to answerer mc. it's up 20%. >> we already did it, without you. [laughter] liz: we're coming right back. don't go away. trelegy for copd. [coughing] ♪ birds flyin' high, you know how i feel.

liz: i think this is the first show in quite sometime i haven't yet used the word "inflation" because we do see a lot of this coming down, but as we show ed to see you thank you very much. >> thank you, bye-bye. liz: from oil to electric vehicles, ev valuations, they are a bit too rich for your portfolio. our countdown closer has a stock play she says once you get in on the sector from a side window, closing bell ringing in seven and a half minutes, the dow now down 445, we have been down 700. what is the end going to look like? stay tuned. . . as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. wow... that's so nice! is that a photo of tepechitlan? yeah! the gift of ancestry®, is a walk through your history. do you remember who this is? it's a gift that surprises you, moves you, and bonds you. ...papa? i can see the nose and everything. she was the original strong woman. i know. this holiday, give the gift of family. give the gift of ancestry®. ♪ exploring the heart of historic europe with viking, giveyou'll get closerstry®. to iconic landmarks, to local

ed the situation as storm sirens warned of the coming tornado. brandy campbell is in edwards ville, illinois outside the damaged amazon facility, with the very latest news, brandy? reporter: good afternoon, liz. well, here in edwardsville we've seen damaged portions of this facility slowly taken down. that ef-3 tornado caused six deaths and still has one person in the hospital. now if you take a look behind me , it might look like a complete building, but to the back of this building is just piles of rubble, and that, because of that collapse, osha has been here since saturday. they've had compliance officers here after they opened an investigation into the building collapse after that tornado came through, they will have six months to investigate issue any citations, and propose monetary penalties if they find violations of workplace safety or health regulations. meanwhile, first responders went from search and rescue to recovery mode. that's now over. today amazon regained control of this site. they are now going through with engineers to do structural analysis and they are beginning to takeaway any debris that remains, but the big impact remains with the families who lost loved ones and t

let's take a look at the new op-ed on foxnews.com, omicron clobbers christmas, dot, dot, dot, and joe biden. author of the piece is lizf this for the president? can he recover? >> i think there are a couple of things, lauren, i don't think he has the energy or will power to pivot. that is what presidents do in the midterms, approaching the midterms when they feel like they have really lost ground. obviously with his approval rate national the low 40s biden in trouble. democrats know it. you have a record number of people announcing already they are going to resign from congress, not a record historically but in terms of recent years. democrats leaving but you think biden's big hope that the therapeutics which by the way which he didn't spend much time on which shocked me, the therapeutics for covid which are underway could really help. if six months from now you get covid, you have a test available to you and you can take a pill that basically makes you well again, then i think all, a lot of these problems, a lot of these mandates go away. that would be biden's big hope. on inflation, lauren, there will not be any pro

stuart: look at this, an op-ed hearing is titled, progressive policies that permit rising crime must be stopped. voters in these cities say enough. liz are saying enough, what is it your evidence for that? >> well i think we saw in new york that the mayor of new york, the person who won the mayoral race, eric adams, a former cop beat out progressives who were talking about being light on crime, the same thing. and we've also seen that in atlanta again. a non-progressive black man was elected, president, mayor of atlanta last week. again beat out progressives. i think we're seeing in polling, stuart, people have had enough of crime in their streets. they have had enough of this looting. they have had enough of no bail being imposed for even homicides in new york city. it is an sane. people are really fed up. stuart: it is a long way to the next elections in 2022. it is 11 months. 11 months in politics is a very long time. does this voter anguish about what is going on in our city, does it have legs? will it last through 2022? >> i think it depends what the crime rate looks like going into the election. we've seen this is a very potent