everybody's looking to put a point on the calendar, but mario gabelli was just on.said look for second quarter, third quarter next year for the u.s. economy. mark, good to see you. thank you so much for joining us. folks 20 seconds left before we hear that closing bell ring. please as we finish the green, nowhere close to the 707 point dow rally we saw earlier today. [closing bell rings] it is all about tomorrow in the final hour of trade where we hear from jay powell on the federal reserve's out look for -- ♪. larry: hello, folks, welcome to "kudlow." i'm larry kudlow. some news days it is hard to know what's the sideshow

last week here on "countdown" billionaire mario gabelli, top investor, told us about a defense, listen. >> the companies we like that is very good and hypersonics is aerojet general. the stock is 54, there's 80 million shares out a couple hundred million of cash, and land in sacramento very valuable and lockheed tried to buy it and it was turned down by the government. liz: where lockheed failed, defense contractor l 3 harris has succeeded. l 3 has announced the purchase of aerojet in a deal valued at $4.7 billion or 58 bucks a share. aerojet right now is at $55.69. mario's thesis was that russia's use of deadly hypersonic missile s against ukraine would make aerojet more valuable to western nations. you've got l 3 down about 3.6%. warner music is singing a happy rocking tune after atlantic equities upgraded the stock from neutral to overweight. so decent jump there. the stock is up 1.5% right now the brokerage firm believes warner will be able to see growth in its streaming platforms. morgan stanley also showing faith in the music publisher raising its price target from 38 to 41 and i