Exactly three hours ago the tech and ecommerce giant got hit with a new lawsuit from the federal trade commission and 17 state attorneys general. They are accusing amazon of using its market power to inflate prices, overcharge third theparty sellers and for using strong arm tack tactics to maintain its monopoly. The suit comes after a 4year probe into alleged monopolistic moves by amazon. So its actually affecting the Broader Market here. The stock is driving the nasdaq 100 lower. Right now we have got the nasdaq down about 209 points or 1. 5 . It is among the worst performers on the index. Siriusxm on semiconductor cin actioner cintas joining amazon on the biggest laggards list. The that major indices head for their fifth if fifth fifth down day over the last six. If you look at the dow, it is down 403 points, thats at the low concern below its 200day moving average. Microsoft, goldman sachs, caterpillar and United Health care account for onethird of the dows losses. Apple is in the worst position here, its the biggest laggard down two full Percentage Points followed by microsoft and salesforce. Com. We need to look at the u. S. Dollar because a lot of those big Global Companies or that are based here have exposure to the dollar and see the the greenback is acting like a 49ers linebacker. The dollar index is up against a basket of currencies for the forty straight day. All the major currencies are down against the greenback. We do have the dollar hitting a 10month high at the moment. And as equities fall, treasury yields are rising. The 2year near its highest level since 2006, it stands at 5. 144 . The 10year at the moment, weve got to check that because it is, at 4. 559 , at a 16year high. So with all this market drama, is now the time to run screaming from investing in or starting a business . Coming up in a fox business exclusive, weve got three of the worlds most successful entrepreneurs together here in studio. Finish real estate magnate Barbara Corcoran, retail rock star damon john and a allaround mr. Wonderful, ken oleary, are here together and kevin oleary. Yes, i cant wait to see the dynamic between these two especially on a day when the market is falling like this. Meanwhile, President Biden has just departed the Assembly Plant where he joined the united awe Autoworkers Union on the picket line. Edward lawrence, tell us what the reaction is. Reporter he ended up not going to the ford plant, he went to a gm plant. This is where the president was earlier today with Union Workers who have been striking. This is actually a gm Customer Care and and aftersales facility coming back and forth. From the white house perspective, these are Union Workers that the president supports. However, the president bringing a message here of transition to electric cars which use 40 fewer workers. Heather add also is in the Union Apprentice program and was laid off by ford because of the strike. She says that he has a message for the president. Listen. I dont think that itll just be electric cars. That i dont think america will go for that. Theres a lot of people in the south, theyre old school. Theres a lot of, you know, im not that old, im 35 years old, and im not going to drive an electric car. I dont care how nice if they are. I dont think thatll ever change. Reporter tiara connor has a similar message saying people need a choice of the less expensive gaspowered cars. Still, the president trying to hoe his support. Show his support. So lets keep going. You deserve what youve earned, and youve earned a hell of a lot more than youre getting paid now. Reporter no mention there of the regulations or the incentives the president s giving for that transition. Over to electric cars. President trump, former President Trump will be in michigan here tomorrow. Now, he likely will not get a greeting with the union bosses, he will not be on a picket line because under President Trump, former President Trump, yes, people were getting jobs, but the the union was not his favorite. So itll be a very different resense even though the message from the former reception even though the message will be telling them to switch their votes. Liz yeah. And Union President shawn fein has made it quite clear he doesnt like Donald Trumps approach. Well see. Both of them are trying to curry favor at least somewhere in michigan and throughout the auto world. Thank you so much, edward lawrence. Former chairman and ceo of chrysler who back in 2007 was able to craft a deal within six hours of uaw members calling a strike. Bob nardelli is joining us now. Thats got to go down in history as one of of the shortest strikes in history, right . Well, liz, thank you for having me on. You really gave credit to the wrong person. You know, this little bit of a dustup we had was over the volunteer Employee Benefit association which at the time, like General Motors moved 55 billion of Health Care Liability over to this trust, they put in about 29 billion into it. But this gave the uaw the right to manage their own health care and take charge of it. We were just finishing up the paperwork on that. That really was tom lasorda, my partner, and ron getting finger who was an unbelievable strong force, the president of the uaw. And without him none of the big three would have gotten through the crisis we saw in 07, 8 and 9. Liz that was at a time, back in 2007, that, i mean, lets be honest, the big three were losing billions of dollars, right . So its very different from the atmosphere right now where theyre coming off several years of very strong profits, correct . So what do you think is sort of that is acceptable level of all of the gets that the union is really asking for . Yeah. Well, you said it and you said it exactly correct. I mean,er is bus Capital Management just spent about 7. 4 billion to buy 80 of chrysler back and reestablish an American Legend here in the u. S. So the times were very, very different. Liz yes. Again, i was blessed with Ron Gettelfinger who had been the president for a long time liz of the uaw. And understood the situation we were in. Fast forward, you just mentioned the current president. You know, he was recently elected. He made some bold, outrageous commitments to the union members, the uaw, and now hes going to have to deliver on that. 46 wage increase. And 46 liz sorry. Lets be clear, 36 , right . Well, it started at 46, then it went to 40, and now its 36, right . And then he made some outrageous commitments like i want to get you paid for 40 hours, but youve only got to work 32. Im going to reestablish the Pension Program that was part of the negotiations in 07, 8 and 9. Those are some pretty outrageous commitments that he made, and now whats happened is weve polarized both the big three and the union. I was surprised, i watched the president today where he said we need to get fair pay, we need to get treated appropriately. But he didnt say, liz, oh, by the way, im the guy thats eliminating your jobs with the ev mandate. Very, very similar to the Obama Administration with the calf pay a cafe standards where they said you have to buy small cars. Were going to increase the average miles per gallon to, like, 50 miles a gallon. Liz right. The consumer like that young lady said, stop, i dont want a small car, and they had to take an offramp and changed the whole position. This is a little bit of deja vu, liz. Liz want this, bob . The union is making an argument that, quite frankly, a lot of americans relate to, and that is that the rate of inflation has moved much higher than the rate of wage growth. And youve got a lot of americans looking at that and saying, yeah, i get, i get what theyre saying. Is so what . If i could use with put on your negotiating hat and tell me if not 36 , what, you know, wage hike, what do you think theyll settle at . 34 . 31 . I dont heres what i would say, i totally agree with your point. The average Household Income has not kept up with the inflation that this administration has created. Day one, the war on energy, Energy Inflation is up 40 . You just go down the list, the Inflation Reduction Act that was really a green movement. So this administration is solely responsible for the inflation that were having to keep up with. So i understand, a family just wants to earn a living. And its fair and appropriate. Maybe a cost of living adjustment. But again, i dont know how they come together right now, liz,because they have really become so polarized. The new president broke with all the tradition. If you look at a two of the companies, you know, they have new negotiating representatives. Ford does not. Ford also has the largest representation of uaw. And then youve got stellantis out there with [inaudible] the least dependent upon the uaw because two of the three brands hes got are really offshore with fiat and the psa group. So, again, you really have a tremendous challenge here to try to bring this thing back to center to have a fair and equitable negotiation, liz. I think this thing will go on for a while. And even at 500 a week on the strike line, which is up from 250 a week, you cant live off of that, you know . You go to the pump, and is youre going to spend 80100. You know, the the kids out in l. A. Are spending 6 per gallon right now. Thats going to consume, theyre e going to have to dig into their savings, and people are going to get quite upset as we move into the winter months standing on the picket lines freezing with those 55gone drums of fire liz it almost feels like a vicious circle because as inflation goes up, people demand higher wages. Companies are looking at this saying how can we everything is going up. Well be watching it. Bob nardelli, thank you. Weve got to run, but we are going to have you back because it doesnt look, in day 12 now, that this thing is close to being over. We shall be watching. Jamie dimon has yet another warning for investors as the markets right now recoil9 from the fed oohs higher for longer Interest Rate stance. Wait til you hear how high the jpmorgan chief thinks rates could actually go. Hint, much more than 5 . Next, blackrocks is about to reveal what she says are the best etf ifs to give you some green in this sea of red. 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Enterate mas hoy. Liz forget Interest Rates at 5. 5 . Fox market alert, jpmorgan chief jamie dimon says investors need to prepare for 7 rates. Dimon told the times of india while he was in india that he predicts the fed could punch its benchmark rate to 7 if stagflation, thats stag stagnant growth and high inflation, kicks in. And look at how trishly yields are responding treasury yields are responding. The 2year at a 5. 14 even here, and the 10year up 1. 7 basis points. So were looking at really high rates this morning. Keep in mind this morning the 0year had dropped to 4. 8, so now 4. 55 , yes, its moving north ward. As far as stocks are concerned, mondays gains are are erased. We have got the vix popping 13. 5 . That may be the high of the session. Im thinking its very close to it. The flation part of dimons stagflation warning, okay, that is weighing on consumer confidence. Septembers gauge fell more than expected for the second month in a row due to stubbornly high food and fuel prices. But 7 Interest Rates . The markets really dont seem to to think so. Fed funds futures show traders are barely betting on one more quarterpoint hike by year end. November, you look at 25 chance of that. December, a little bit higher, now at 35. 5 chance. But one thing fed chief jay powell has stressed is that rates will remain higher for longer. If that is the new normal, folks, how should you, the investor, play it . Lets get right to the floor show, head of ishares Investment Strategy americas. First of all, do you agree with jamie dimon, that rates could go to 7 . Good afternoon, liz. Its great to be here. Thank you for having me. So i think that its highly unlikely that rates can go to 7 . I also think its important for us to look at what markets are pricing in, what the fed itself who would obviously take rates higher are saying. When they released their statement of Economic Projections last week, they still expected one more rate hike but not one, not even a Single Person voting that puts their proif nexts projections at anything higher than that 5. 6 . I think thats worth something. Now, obviously, you know, one can never say never. Again, a im not in the 7 camp at all, but if Oil Prices Continue to move higher, can the fed raise rates further than that 1 that they have projected . Perhaps. But 7 seems quite unlikely given that inflation is slowing down and added growth. Liz but you do agree that the fed is going to leave rates higher for longer. Absolutely. And, you know, one of the things that were talking about in our fall investment directions that we just published yesterday is around how investors should think about investing in this higher for longer period. So our viewers, weve got gotten to the higher. Now its a question of staying longer. The higher has happened, the longers beginning and how should you invest liz lets go, higher for longer, the trade. [laughter] youve got three etfs that you recommend for the higher for longer atmosphere that were in right now. Yes. Liz iye, that, to me, seems pretty smart and oven, the u. S. Energy obvious, u. S. Energy etf. This one has a whole bunch of the big, integrated oil names. Exactly. This is a recommendation that we had opened in our june update which, by the way, i was here for your show at that point talking about this. And we thought a lot about keeping that overweight into the fall update as well, and we decided to remain invested in iye because we think that the demandsupply picture in the Oil Market Still favors an energy overweight. So even if oil markets just go up a little bit more from here, a few Percentage Points, Energy Stocks can actually continue to do pretty well, and they have really good cash flow. And when were looking at quality companies, we Want Companies that have that good cash flow. Thats what investors want. Liz then youve got qual, which is u. S. Quality. This kind of surprised me, because youve got names that are sometimes volatile nvidias in there, youve got apple, nike, microsoft and then youve got visa, mastercard, eli lilly. So these are big quality names. I would think that way you keep your toe dip in some type of equity exposure. Yeah. So the thought process behind that is that as we slow down and, again, this is not a recession call, but this is just a view that q4 is going to be a Slower Growth environment than q3. And in that environment where were all so super focused on inflation data, on the growth data, on the consumer data as a you were pointing out, on whether or not the government shuts down, we think that in this volatile environment it is important to look at companies that have high cash flow, that have strong profitability and, very importantly, low debt. Higher for longer, low leverage. Liz les youve got an etf that that has the word buffer in it, okay . [laughter] its the ivv, its relatively new. It is. Liz and the promise, because i really looked deep into it, its designed to prove 100 protection against stock market losses. 100 . [laughter] yeah. Are. Liz right now its flat, so youre looking good for the moment right. Liz considering you have such a selloff today. Thank you for bringing this up. The way we think about that is, again, it is protecting you on t