the teachings. >> the teachings of tepper >> i learned from tepper tepper one time embarrassed me sohis is the time to avoid losing money >> biblical. god. >> i know you read the list at jpmorgan he had a series of charts looking at prior post-war downturns, and arguing that markets recover even when the economy continues to get worse >> yes, i like that. i like michael, who by the way, said to me, jim, i hope you don't have any money with that bank but yeah, look, there's some really interesting stuff there's a guy i follow, ryan dietrick, very good. and he showed us, there's a lot of stocks that have already hit that level i mean, the home builders. i know when the mortgage rates went to 6%, if you go back to the last toll brothers call, doug the careo was saying at 5%, 6%, we're fine a lot of people are now talking about 7%, 8% i don't see that coming. i just don't >> the wells cfo is on the tape, mortgage banking income could be down 50% from q1 do not expect any release of cash reserves. that's pretty obvious. >> very obvious, but i look at toll these stocks are selling at five

mark tepper rebecca heinrich with me reaction to data. for businesses to boost the bottom line by any means, and you know as i've said as cheryl said, the labor market, is in for a rude awakening too easy too long i think course next several months we are going to have to readjust, to this new normal i think going to see next few years. maria: yeah all right. a short break a market that is up, in in triple-digits dow industrials set to open up 117 yet economic data, that is showing job creation is weaker-than-expected we will be right back "new york post" you columnist miranda devine to weigh in on that and hunter biden's laptop story. stay with us. . . (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. the other workers' comp insurance company. they were going to reclassify our business and then they were going to charge me 50,000 dollars. when we got the quote back from pie, it was a sigh of relief. they put us in a policy where we fit. i'm grateful th

mark tepper, you're with us all morning.erybody. we appreciate your time. quick break and then chinese president xi jinping pledging to meet economic targets for the year despite his zero tolerance approach to fighting covid-19. we are talking about it, what it means for america with the gatestone institute senior fellow, gordon chang, coming up at 7:30 a.m. eastern this morning. the administration still refusing to admit signs of a recession, former council of economic advisors chairman kevin hassett is here with his input at 8:30 a.m. eastern. don't miss it. joining the conversation all morning long, doug collins and mark tepper. we'll get back to this fantastic panel when we come right back. you're watching "mornings with maria" live on fox business. ♪ baby, why don't you just meet me in the middle. ♪ i'm losing my mind just a little. ♪ so why don't you just meet me in the middle. ♪ in the middle. ♪ (♪ ♪) (♪ ♪) only two things are forever: love and liberty mutual customizing your car insurance, so you only pay for what yo

tepper thinks he's got the answer and we will be back after this.veryone's asset. say goodbye to daily insulin injections. omnipod is a tubeless, waterproof pod built to simplify life with diabetes. try it today. go to omnipod.com for risk information, instruction for use, and free trial terms and conditions. consult your healthcare provider before starting on omnipod. talisker resources is ready to dominate - with two fully permitted resource assets; an upcoming maiden resource at its flagship gold project in southern b.c.; and a vast pipeline of world class greenfields projects. talisker resources. stuart: i thought this was a pretty good question, which town is known for the oldest july 4th parade? there is your choice, philly, plymouth, massachusetts, bristol, rhode island. chester, pennsylvania. fantastic i christer. stuart: i will go with chester. the answer is bristol, rhode island, they held the first celebration in 1785. thank you, tepper. you have got energy and life. >> i try to bring it. stuart: i'm envious. time is up for me literally,

joining the conversation all a morning long, sarah westwood and mark tepper. panel when we come right back. you're watching "mornings with maria" live on fox business. [acoustic soul music throughout] [acoustic soul music throughout] [acoustic soul music throughout] say goodbye to daily insulin injections. and simplify life with diabetes with omnipod. it's a tubeless, waterproof pod that provides insulin without multiple daily injections. now is the time to try it with a free, no commitment, 30-day omnipod dash trial. go to omnipod.com/free for risk information, instructions for use and free trial terms and conditions. consult your health care provider before starting on omnipod. simplify diabetes. simplify life. omnipod. >> i think ron de santis would work as a good president. i mean, what he's done for florida has been admirable. >> what he did for florida, a lot of people gave him grief but ultimately he was correct. he was correct when it comes to deaths, he was correct when it comes to protecting vulnerable population, he was correct in terms of distribut

mark tepper, great to have you, you're sticking with us all morning, we are happy about that.head, coming up, a new poll shows more americans are worried about inflation rather than gun violence, but congress has different priorities. then rapper, actor and big three founder ice cube is back with us. we'll be buts discussing his -- cussing his nft launch. we're going to get back to our fantastic panel. you're watching "morningses with maria" live on fox business. yo. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence. another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you

tepper is still with me.k ordinary folks can invest in if we do expand nuclear power? >> i do it's ticker is ccj, so they are north america's number one producer of uranium which is obviously what you need if you want to utilize nuclear power. stuart: do you own it? >> i own it, my firm owns it, clients own it. yes. stuart: and a good run with it so far? >> absolutely. i mean, look, from my perspective, nuclear is the future, and i mean, its gotten a bad rap over the course of the last several years, due to probably the three major crisis, three mile island, chernobyl, fukushima but at the end of the day, it is the best way for us to maintain a strong power grid. stuart: okay look, before we leave you, or before you leave us, i want to show you something stick it up on the screen, please. >> oh, come on. stuart: that's prince harry on the left i think. >> [laughter] stuart: that is mark tepper. i think he's a dead ringer for prince harry. >> i've got better hair than that. man oh, man. stuart: a ringer for pr

here but, yes, they still need approval from owners and the nfl itself >> but, boy, if you are a t tepper cowboys are feeling. >> true. thanks everybody for watching "power lunch." >>> "closing bell" right now >>> the major averages giving back most of this week's gains the most important hour of trading starts now welcome to "closing bell." i'm sara eisen take a look at where we stand in the market down about 300 points the low of the day down 345. most sectors in the s&p 500 are red. everyone, that is, except for communication services pockets of green, names like alphabet, meta and netflix at the top of the list on takeover chatter. small caps down

joining the conversation, dagen mcdowell and mark tepper.ck. you're watching "mornings with maria" live on fox fox business. our interactive tools and advice can help you build a future for the ones you love. that's the value of ownership. ♪ ♪ i'm the latest hashtag challenge. and everyone on social media is trying me. i'm trending so hard that “hashtag common sense” can't keep up. this is going to get tens and tens of views. ♪ ♪ ( car crashing ) ♪ ♪ but if you don't have the right auto insurance coverage, you could be left to pay for this... yourself. call a local agent or 1-888-allstate for a quote today. call a local agent or 1-888-allstate for a quote today. living with metastatic breast cancer means being relentless. because every day matters. ore of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause status. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common,

on the edge of the small mexican town of tepper, takes law in the state of mexico. the ol, entirely farm grows, fruits and vegetables. everything here is fertilized, exclusively with homemade human dung. no such was gonna complete the cycle, cheek lord comes from me or if it's digested and excrete out of what i prefer. so the, the castiano, the here, the process of composting allows us to give back to the soil what we took from an anchor bold barrel at deirdre lockerbie. so we complete the cycle and light continues the lobby, that se they eat their own vegetables. but they also saw them at markets. all plants need nutrients to grow, especially in nitrogen and phosphorus. all in t ali is a fully organic farm, and artificial fertilizes are banned. thomas via new eva says they're expensive and bad for the soil. so he and his team invest a lot of time and effort, collecting excrement from dry toilets, mixing it with natural ingredients like stone powder or straw to transform it into a rich compost over a number of months. the activity of bacteria leads to high temperatu

let's get the read from our all-star panel, mark tepper joins us. capitalist pig hedge fund manager joins us jonathan hoenig. jonathan, i will start with you this is really backlash from friday's inflation report. the indication we peaked in march. that we'll start to slowly creep down. that number indicating that is not the case. we hit 8.6%. markets looking at the federal reserve this week saying we might get more than half a point rate hike. >> yeah. without a doubt. last week's data was downright atrocious between the cpi data being up 1% month over month. consumer sentiment being at an all-time low. the data only goes back to the late '70s but still that's pretty bad. look, you have got more and more people now jumping on the recession bandwagon. when that happens, that leads to more volatility. it seems like nearly every single day this year has been a greater than 1% move which is quite different than what we experienced the last few weeks. you mentioned peak inflation. seems a lot of people on the peak inflation bandwagon, were same people c

lee was my teacher, david tepper was my teacher they're all suitably negative, but i don't think thate, you can sell some. google is one of the largest positions of my travel trust, alphabet, and i agree with that. i like microsoft, too. those are interesting stocks because google is very inexpensive. microsoft is expensive historically, but i thought the paramount story was most co compelling because i think oil is great here. i think even if the russia/ukraine war ends, we're not going to let up on russia. there will still be great sanctions against them, so i think that oil is the best place to be. it's very much like '69 to '71 oil has just been periodically very great when there's inflation. it's a small part of the s&p, and people still resist oil. when i mention people should be buying oil, people say, are you kidding? i missed oil i thought it might bea compromise between the president and the oil companies, but when he said exxon made more money than god, that's exactly what the oil companies told me to think about buyiden, that he hae them, so there will be no deal with the

tepper, with stuart varney, about the fact it could go to 5% or better. a lot of people are saying three, 3 1/2 percent. if we're to take jerome powell at his word here, at least his hope, he says, activity will subside to the point you don't have to go willy-nilly, crazy. the backdrop of that, to look as positive developments, seeing techland illustrating some of the slowdown that the fed chairman is talking about. let's get the lay off the land with kelly o'grady following all of this. reporter: we're seeing a big selloff in tech stocks as the market trades on fears of a recession. now more layoffs are here. this is impacting private and tech companies alike especially those that benefited from a pandemic boom. according to one tech tracker, 23,000 people have been laid off since the beginning of the year. coin banks some of notable names laying off in the hundreds. the news comes from tesla, laying off 200 autopilot workers and closing the the san mateo office. employees are going to twitter and linkedin for the abrupt nature of the layoffs. the compan

stuart: tepper is still with me. do you think he's really done? >> i do.es. i would watch that. let him be his goofy self, he is hilarious. it would probably be similar to will ferrell's character on wedding crashers. where is the meatloaf? kind of a fun goofy reality tv series. stuart: melitopol gronk is a natural born entertainer, you can hardly hold him down. i've got one more on football. la chargers player focusing on a new kind of competition. morgan fox's french barlett -- french bulldog winston is a finalist in the westminster dog show. have you got a picture of your dog, brody. >> there's a picture of him when we first got him. stuart: he looked grumpy. >> he was not happy for some reason with my oldest daughter's first day of high school at the end of august. let's see what he looks like today. look at him. one hundred 25 pounds. he is sitting on a human being there. you can't see the human being behind the dog. stuart: you heard of inflation in petfood, you are feeling it. we are on sports generally speaking. a russian born tennis player changin

tepper terry secretary of congress. let's get the first word news with vonnie quinn.nie: bloomberg haslinda goldman sachs is -- the number may grow as the economy forces the firm to take more lending positions. the figure is greater than the hit goldman estimated for 2020 it said would be the low point for the market venture. fed officials are playing down the risks of the u.s. economy dipping into recession even as rates rise. the new york fed president in san francisco insisted that a soft landing was still possible despite the hottest inflation in 40 years. the fed raised rates earlier this month by 75 basis points and could consider a similar hike next month. china has reduced quarantine time for inbound travelers by half. it's the biggest change to china's covid policy. travelers will need to spend seven days in quarantine facilities plus three days of self-monitoring at home. that's down from 14 days in many parts of the country and as many as 21 days in the past. the new rules do not signal a loosening of policy. hong kong's incoming government is said to be co

between 4 and 5000 people left the border city of tepper to la on monday. the time the departure to coincide with the summit of the americas. this week, brazilian police have opened a criminal investigation into the disappearance of an indigenous affairs expert and a veteran. british journalist in a remote region of the amazon, bruno ferrera, brazilian specialist on isolated tribes and a high profile supporter of the indigenous community, was traveling with british reported on phillips. there were last seen on sunday, on a boat in a part of the rain forest, where indigenous groups are under threat from illegal miners, loggers and cocaine producers, activists. the men received threats last week. marley's military has proposed a 2 year timeline for return to civilian government as part of negotiations with with west african block echo us to lift economic sanctions. the organization wants molly's military will, is to review its transition period out. is there a well is next following the stories of 3 era people who helping changed the lives of those around the

up on something edward said with carol roth, small banker, author of war on small business, mark tepperstrategic wealth partners. as you heard here the president might make a decision one way or the other by the end of this week whether to temporarily lift of the federal gasoline tax, 18 1/2 cents. would that move the needle much, carol? >> i mean, it is like all of their other proposals, it doesn't fix the root of the problem. it would be great for us to not be swimming in gas taxes which happens usually at the state and local left there is some federal component but the bigger part is usually state and local. whether it is canceling student loans or suspending the gas tax, they don't want to get their hands dirty. they don't want to fix the actual problem. they want to kick the can undo the road. at some point we have to address the root cause issue and the tax isn't a great thing but the issue is the energy policy. if he wanted to actually do something, neil, he would do a 18 on energy. neil: other presidents have done 180s and it has not hurt them. bill clinton famously after the mi

here but, yes, they still need approval from owners and the nfl itself >> but, boy, if you are a t tepper, you're feeling good. >> imagine what jerry jones and the cowboys are feeling. >> true. thanks everybody for watching "power lunch." >>> "closing bell" right now >>> the major averages giving back most of this week's gains the most important hour of trading starts now welcome to "closing bell." i'm sara eisen take a look at where we stand in the market down about 300 points the low of the day down 345. most sectors in the s&p 500 are red. everyone, that is, except for communication services pockets of green, names like alphabet, meta and netflix at the top of the list on takeover chatter. small caps down 1.75%. crude oil is spiking up 2.5% energy stocks are holding up better than the rest of the market but are still in the red. real estate and utilities are the worst performing groups. the most active traded names on the new york stock exchange. didi global and some of the internet names in china have been flying on the opening of the chinese economy and the stimulus flowing there ali

stuart: tough guy tepper. >> gotta do what you gotta do.just don't understand that concept. so on monday and friday, you just don't have to commute or you can take your kids to school, i just, i think that it should just be more flexible in general not necessarily set days stuart: here is a new job for both of you listen to this. we have a lifeguard in california, makes over a half million dollars. lauren: i'm a good swimmer. stuart: half of that comes from overtime. by the way there are 90 other lifeguards who made more than 200,000 bucks, 20 made more than 300,000 and by the way lifeguard s yeah, they work all year around but they can retire at the age of 55 with 79% of their pay. scrambling for that job. >> i'm out of here, done, i'm moving to california. i'll tell you why if lifeguard ing wasn't the most boring job in the world i'd do it. i was a lifeguard in high school and i would just sit there and watch the clock, you know? for 500 grand a year, like you can't beat that. stuart: baywatch, i mean, from 40 years ago, all about lifegua

doug collins, mark tepper, great to be with you. "varney & company" begins right now. stu, take it away. stuart: good morning, maria, good morning, everyone. the president wants a federal gas tax hall i do. -- holiday. he's not likely to get the votes he needs. today the energy secretary will go after the oil companies. jennifer granholm will meet with seven topics tyes. president -- top executives. the president who told gas station owners bring prices down now will not be there. granholm will demand they produce more oil and refine more gas. a few months ago she thought producing more oil was hilarious. ped chair powell is contradicting the president on inflation. biden says it's putin's fault. wrong, says powell. prices were rising way before putin invaded. regular down all of one cent to an average 4.94, diesel down one cent to an average 5.80. let's get to the markets. modest gains for stocks even though powell told congress that higher interest rates could lead to recession. dow industrials will open with a very modest gain, 76 points maybe, the s&p 18, nasdaq ab

mark tepper joins us this friday morning.ating, very very recently. the wall street journal says techs decade of stock market dominance has ended. what say you, mark? >> yeah, i mean, look. a lot of the tech sector you've got kind of this high multiple stocks, you've got a lot of companies that aren't making any money. big tech on the other hand, big tech you know, every single one of those companies is making money but when you kind of look at apple, microsoft, google, amazon, what all of these companies are doing is they're starting to kind of shift guys and they're going in a direction that isn't all that great. i mean, you take a look at amazon, kind of going less discretionary, more grocery- based. more necessities. you've got apple getting into the buy now pay later business, which that scared me, stu. that seems to be just a slight notch above payday loans and that might be fine when the economy is accelerating, but it's definitely not as fruitful when the economy is slowing, so look, big tech will be okay because ever

back in 2018 david tepper approaches carolina panthers $2.3 billion.n drop 2 billion for the new york mets. double that amount coming from rob walton, his daughter carrie, son-in-law greg taking over denver broncos. sale is not official yet. basically going through final formalities. they need 24 out of 32 votes. hurdles are anticipated. remarksable and big payday for the bowlen trust. neil: to put it mildly. what is the more attractive financial lure, by a baseball team or football team? >> when you look at valuations definitely has got to be a football team. the nfl attract as larger audience. we heard mlb commissioner rob manfred there is issues holding a franchise right now. that is off-putting. nfl commissioner roger goodell embraces big bucks rolling in. frankly fans want to see owners that spend big money to buy the team. they feel it will translate into the product on the field. new york mets fans have been seeing luxury of that with steve cohen. i'm sure denver bronco fans may see same thing out of walton family. neil: wonder if the walton fam

the portfolio, the goal is to lose less i talked about my mentor you made fun of me yesterday dave tepper i did not make fun of you you said he was your teacher, not mentor >> he is >> and you made it sound like he was a yoda-esque figure. >> he doesn't look like yoda >> no, he doesn't. >> he owns is panthers what do you own? >> very little asset-light model. >> a lot of guys come on and talk about doomsday. listen, i could lose -- >> if you own fed ex you'd be happy. >> up again? >> it is followthrough to the significant gain in the shares yesterday, news of the dividend increase, the addition of three new directors. we talked about it a lot yesterday. we don't have the name of the third director yet they haven't agreed upon it. although that appears it will be fairly soon. investor day coming up at the end of the month look at that move. that was the biggest move the stocks since the '80s or '93 >> business is not better. i don't know >> we expect it will become better finally, there are going to be significant changes in fed ex that make it a more efficient operator and its free cash f

. >> well, tepper was going to trade badly. would market it at zero that's how he plays it he is a very serious business person i'm sure if we got on the phone he would despise the idea that these guys are carrying a lot of private deals at higher prices he just would never do that. >> right but your point is that he could mark it up based on this >> yeah. >> a lot >> but the panthers, even though, look, the broncos very much improved their team so i think they'll be much more competitive. that does matter when it comes to what they can do with it. but the panthers have -- a lot of people felt that dave spoke -- too much money in the panthers >> it is carl's team, so we can defer to him on what it means for the broncos. i would think it's good to have somebody worth $40 billion or $50 billion so own your team >> they have a good quarterback. >> being from denver, russell is the prince of the city right now. those sports pages will be on fire next few months as we go to break, guys, time for "the bond report." let's look at trea

that means you, mark tepper, and we appreciate you, rebeccah heinrichs are. thanks for being here. "varney & company" begins right now. stuart: we appreciate you with, maria, we really do. and good morning to you. congratulations. good morning, everyone. look, i was going to start with gas prices. yeah, they are up again. but i'm not going to do it. i want something uplifting, something joyous. so look at this. the sun is shining in london, and the four-day platinum jubilee has begun. 70 years on the thrown, the -- throne, the longest reign in history. 90 years old and much loved. strange, isn't it? a republic so interested in the british monarchy? by the way, harry, meghan and prince andrew did not make it onto the ball conmy. the queen did, and -- balcony. and she looked great. gas prices, regular up another 4 cents overnight to an average of $4.71. a year ago service the $3.04 -- it was 3.04. we're in an inflationary spiral, but the administration can't deal with it. the president committed there's the nothing to be done in the short term the about gas or food, and they're sendi

maria: dagen mcdowell and mark tepper great to be with you guys this morning. dagen: great to be with you. likewise. maria: all right, markets completely turned around dow industrials down 60 points let's hand it over to "varney" & company stuary varney take it away. stuart: good morning, maria, and good morning, everyone. you can't get away from it. it is the dominant issue for the financial markets and for politics too. i'm talking about yes, the inflationary spiral, which we are now in, and a new quinnipiac poll shows voters think inflation is by far the most urgent issue facing the nation. double the number who are concerned about guns and this is why inflation tops the worry list. gas up again, yes, 4.97 is the national average as of this morning and there are now 20 states plus d.c. where it's $ 5 or more on average per gallon of regular and look at california. they've reached $6.40 a gallon, and that's an average. this will catch the attention of truckers and farmers. yeah, another new high for diesel, 5.74 a gallon. the president though, he's not change

mark tepper is with us today.ans you're not gonna buy into it. >> that is correct. i think the big question that investors are asking themselves with the market being up maybe 9% off the bottom two weeks ago is have we bottomed out and is double market coming back or is this just a headshaking a bear market. i think it's the latter all the market internals are suggesting that this is just a bear market and the strategy during these times who use these rallies and use strength to lighten up on those positions that are going to be leaders on the other side of the recession, i tell you i'm not quite ready to pull the trigger and by companies that i do think are going to emerge from a position of strength on the other side. but i am putting a list together. can you give me i know you like automation and robotics, can you give me names of companies which you think will do well when we come out on the other side of any nasty recession that we've got coming at us? >> hub spot sales for service now i think those are all g

maria: a big thank you to dagen mcdowell and mark tepper. have a great day, everybody. "varney" & company begins right now stu take it away. stuart: good morning, maria, and good morning, everyone. jay powell pulled the trigger, rates up 75 basis points and he's hinting at more big rate hikes to come and now we're seeing stock market sell-off. investors not convinced that power can crush inflation without crushing the economy too , and central banks all around the world are raising rates, as of right now. the dow going to be down about 500 points at the opening bell, up 300 late yesterday, down 500, right first thing this morning. the s&p also going to be much- lower and the nasdaq probably showing the biggest loss of the morning. it was down over 2% yesterday as well. big tech that's leading the market lower. rising rates not good for the big cap growth stocks and down they all go, every single one of them. crypto investors, you better look at this. bitcoin on the edge of 20,000 bucks a coin, again. crypto still struggling. we have yet to see a sustained rebound from t