maria: let me bring in mark tepper. ing economy and impending recession potentially. we're looking for growth. there you go. here's growth, private jet industry, mark. >> a lot of growth. yeah. tom, you're in a fantastic industry given that there's just absolutely so much demand right now. i think for your competitors who are in a different niche than you, you carved out one heck of a niche within the private jet space but jet card programs seem to be over-subscribed. you can't even find those anymore. that's kind of pushing people who are interested in private jets all the way up to fractionals and tom, as you mentioned, you've got to outlay millions of dollars to get involved in one of those programs so i find it very interesting, kind of that niche that you've carved out. but my one question for you is i was looking through your aircraft, they do seem to be larger private jets. do you think at some point you folks will shift gears and maybe pick up a light jet or very light jet like a phenom300 or citation m-2 or does

look at who is here, mark tepper.few months, i could make an argument is weakened of the surface because technicals didn't support it. yesterday was different, all the technicals were very solid and this could be the makings of a bear market rally. i do not think we are entering a new bull market, most of the ingredients you need for the recipe of a bear market bottom are not there yet. it is up 6%, the blowout at 500 now, typically over a thousand so all the metrics we would look at we haven't seen yet. we could have a multiweek rally but i think the market over the next several months is lower. ashley: everyone says the markets already baked in what the fed is going to do but are they too nonchalant? could the fed get more aggressive? >> they baked in what the fed will do which is hike rate until we get to 3.5%. they are pricing in rate cuts next year so we get to 3. 5% for a second meeting of 2023 and two cuts, and no way in heck that happens. no way. if you go to 1970, the fed has not stopped hiking rates until th

i'm with mark tepper this morning and, mark, nasdaq is up 8% just in the last few weeks.xpectations did not go down. they went up. jump in here. >> yeah. expectations are going up which is kind of strange. i mean, i think when you look at the cross currents economically, we're setting up for some pretty challenging times over the course of the next year. i think the market's perception right now is that if there is a recession that it's going to be very short, it's going to be very shallow. i don't know that i necessarily agree with that. i think when you look at where the current inflation rate is and what the fed has to do, i feel like there's more pain ahead. lou, i'd love to hear your take on that. i mean, do you think that there are opportunities right now where you can kind of bottom fish a little bit and find some really good long-term deals or do you think maybe you kind of tiptoe your way in, you step into some of these positions and possibly get an even better opportunity three, six, ninths down the road? maria: or do you sell? >> i think you're getting -- you'v

i with mark tepper this morning.ard from the fed yesterday the federal reserve minutes were clear the number one job is getting those interest rates higher slamming the brakes on an economy and wanted to see is slow down which is actually playing out. your thoughts on that when you look at this rally a big tech in the last couple days. >> isn't it strange. you read that the fed is committed to fighting inflation in the market moves higher yesterday. yet more and more data that is pointing toward a second gdp growth but maria i think what is going on it seems like a lot of investors and i would like to get david's take on this is seems like investors believe the fed is going to pivot once we are in a recession there to do a 180 start hiking and start cutting. i don't think that's going to happen. avoiding a recession is not one of their mandates that may be indirect with the correlation of an appointment rate but i kind of got a non- consensus view that the fed will continue to hike to address the inflation mandate. m

mark tepper, gentlemen, welcome to both of you. what is the market saying today?mentioned retail sales data but there is also optimistic consumer data that came out from the university of michigan, still incredibly low, 50 one. it absolutely went up month over month and consumer inflation expectations came in lower than expected, consumers expecting the inflation rate year from today to be 5.2%. personally i think that is wishful thinking because it would take we 8 straight months of 0 reading month over month to get below 5% so that wishful thinking, cpi and ppi are telling a different story, look at the nfib small business outlook hit its worst level ever, why is the market rally and today? the biggest reason is the market has gone from almost expecting wholeheartedly a one hundred basis point move at the next meeting and that has come back down to write about 75 basis points after you got the data this morning. neil: only this environment can a be relieved of a 3 quarters of one% hike but what do you make of where we are and whether this has any traction, rarel

mark tepper, i want to ask you something.n the show, my colleague charles payne joined us. >> yeah. stuart: now he drives a gigantic suv. what's it called again? lauren: the t-rex. stuart: that's a picture of his gas bill, filling up the t-rex, 183 bucks just to fill it up. that's a lot of money. >> that's brutal. stuart: you've got big cars. >> i do. not 29-gallons worth though, so i think charles payne has me, he has me beat there. he has me beat in the suit department. he wears some pretty good suits. stuart: but you don't have to face those kind of high gas prices? >> oh, we do, yes, and the weird thing is it seems like the only cure for inflation, the only relief for oil right now is a recession, unfortunately, right? and as patrick just mentioned, demand over the july 4 weekend is 10% higher this year than it was last year, yet over the course of the last few weeks , oil prices are down 20%. obviously that smells of a recession. that's not good. i think everyone is beginning to price in slower growth. very very quickly

first, let's bring in jackie deangelis and mark tepper. thanks for being here. $6,800, jackie, is the bite that's been taken out of people's income if you have mom and dad both working in the home. how does this shape up? >> first, it was 3,500 and then $5,000 and now it's $6,800. it keeps going on. my biggest problem today even though they're trying to explain it away saying it's backward looking, that doesn't mean it didn't have an impact on people. they're paying more for grocery items. eggs up 33%, butter up 26%, airlines up 43% year over year. not to mention the gas prices that are up 60%. gas prices from june 14, they're down 38 cents. that helps, but we're not there yet. we're seeing an average of $5 across the country. this is backward looking what are you doing to fix it going forward? >> martha: here's the thing. this is karine jean-pierre, this is before the number came out. here's how she framed it. >> we expect a backwards-looking inflation data to be highly elevated mainly because gas prices were so high in june. >> martha: t