although when i pushed back on tony dwyer, he said, i expect a recession. if you look at the average stock, it kind of is. >> only seven stocks going up. >>> our next guest says the u.s. and uk central banks not looking to cut rates with the pound at three-month high versus the dollar. u.s. dollar index at a three-month low. instead looking at precious metals and other commodities heading into the new year. joining blake financial chief investment officer, peter. thanks for joining us. the last little upleg in the stock market started with the cpi report for october, which was on november 14th. it seemed to get everybody on board with the idea that disinflation is well in train. you had bond yields on the ten-year treasury back off. so that seems to solidify this idea that inflation seems like it was 2022's problem and the fed is done. do you take issue with that? >> no, not right now. certainly the moderation is lending support to the belief that the fed is going to cut interest rates by 100 basis points through the end of next year. i also think that's a

tony dwyer. >> good to see you. thanks. >>> after the break, meredith whitney famous for predicting the 2008 financial crisis. now with the strength of the consumer. she joins us next. >>> one of barclays' top strategist, the x lo15vibew today. stay with us. all right. 60 seconds to draw the perfect gift. what's it gonna be? a bottle of don julio, 1942, delivered. delivered with drizly. gifting without the guessing. drizly. you want to be able to provide your child delivered with drizly. gifting without the guessing. with the tools or resources they need. with reliable internet at home, through the internet essentials program, the world opened up. fellas, fellas. that's how my son was able to find the hidden genius project. we wanted to give y'all the necessary skills to compete with the future. kevin's now part of this next generation of young people who feel they can thrive. ♪ ♪ >>> shares of dish higher this morning, but after its worst day ever, a record 37% drop. disappointing earnings, surprise departure of th

tony dwyer joins us now. what does chillax mean? >> i'm in the kitchen.what i thought was outsized and outrageous and i would have the normal dad reaction. and they would say, chillax. like, it wasn't as big a deal as they thought it was. that's what made me think about it. >> i told david to chillax five minutes ago. >> did you? yeah. we use it here too. like an old dad. what about investors' approach to the market? >> you guys have been talking about the markets were fine. they were fine. when you're at a historical result level like october 27th, when bond yields are spiking on treasury supply and they're fine, that's a reason to expect a snappy bounce. the environment then was ripe for a rally in the bond market and a ral ly in the stock marke. now everything is kind of fine. you need that next catalyst. if i suggested that back on the 27th when we were looking for the rally, if i was going to be 9% or 10% by the emd of the year, everybody would have taken that hands down. it's good for a further rally and doesn't match with our data. by the end of th