various unions. that's been the disconnect. the democrats created narrative. the realitying is the republican party that favors in general less government, more opportunity, pro-growth strategies, right? let's talk about those pro-growth strategies like our friend larry kudlow talks about, those were the people that actually helped the average american rise up in the middle class. the democrats use tax policy and big government. that's always been against people trying to get ahead and get the american dream. the truth is now revealed. the bosses can no longer just lock it away and say we're for you, and that's what matters here. the american people are seeing who really delivers for them. charles: david, caroline, thank you both very much. as they were talking, the markets started taking off. i'm not sure it was them or they just know liz claman's got you. it was one of them, liz are. liz we're going to tell you exactly what it is. we've got the breaking news, the wattage of the political spotlight amping up at this

hour. we are about to take you live to the nation's first primary where on your screen donald trump and nikki haley reare coarsinging across -- are coursing across new hampshire as they battle to win over republican voters in the granite state. we've got your front row seat to what the latest polls show and the $1.5 million windfall haley has just gotten since is rival ron desantis pulled out. i be first, let's get to charles' why did the market take off. we've got 59 minutes left to trade, the s&p on track for its third record close in a row. any gain -- so we're gaining by 9 points, but any gain is going to do it. you've got the nasdaq up 41 points. what charles was referring to, if you can rook at the dow -- look at the dow, down 90 points, but it was a lot are worse earlier. punch up america -- merck, maybe this is the reason. just declaring a quarterly dividend of 77 cents per share for the send quarter. the stock is zooming to an all-time high of $19.82 --

119.82. let's bring it back to the blue chips. just a day after the dow broke through the 38,000 level for the first time, not quite there, again, we're at 37,904. due in big part to an earnings outlook from industrial conglomerate 3m. the company forecast full-year earnings below wall street estimates. right now 3m is at the very bottom of the dow heat map, down about 11% they cited a muted macro environment but also said its electronics business which makes dismays for smartphones is struggling as customers cut back on discretion discretionary purchases amid sticky inflation. it's going to be a big topping you can for the election, right? the stock has definitely struggled. three years ago this was a $170 stock. right now it's at $96 and change. we are less than an hour away from netflix throwing open its q4 earnings window. ahead of the big reveal, we are looking at tentative trade at

the moment, slightly i hire at last check for netflix. yeah, up three-quarters of 11% here at the moment -- 1%. but if oscar nominations are any kind of leadership metric, netflix has a very firm grip on the brass ring thanks in part to bradley cooper's mice stroh, th. 18 nominations, far and away the most for a streaming studio. apple tv, apple -- that's the one that came in close, 13 nominations, but netflix, 18. when you're looking at the stock performance, the competition is lagging far behind. netflix has gained 36 percent other last year, clobbering warner brothers discovery which is down about 22%, and an even worse picture for paramount which has slid 35%. again, that's just the stock. over the past four quarters, netflix has piled up $4.5 billion in profits while its competitors have lost money. netflix reports after the bell,

as we said. big moves in verizon, procter & gamble. depending on what two crucial pieces of mix data out thursday and friday show, the dow bulls could be off to the races again or stuck on is -- the sidelines. let's bring in the floor show, the best experts to tackle all of it, new york stock exchange trader peter tuck theman, keeper of the famed dow hats. he joins us live from the new york stock exchange floor. he's got the 38,000 right there. and reagan economist art laugh or or. peter, we're going to taft with you. when did you order the dow 38,000 hat? mean,ing, when did you start to believe this thing was going to erupt to a new high? >> you know, first of all, i wasn't sure, i thought that the maestro movie was actually about you, liz, but i guess it's about leonard bernstein. [laughter] look, the end of '23 was such a significant rally, the bulls had definitely taken over. november showed, you know, the

market that there's still a lot of enthusiasm even though everybody, all the doomsayers were talking it was going to be a bad november. november and december were solid is. obviously, the market's still trying to get its food footing. i did order the hats probably a week ago. it was a quick order because i wasn't really clear whether january was going to, you know, take us to that 38,000 level. but, look, i'm a firm believer the market tells i what it thinks of the information. there's obviously a lot of headwinds around the cpi and the manufacturing numbers that have come out. earnings season's been kind of mixed. but net-net the market feels like there's enthusiasm, there's money on the sidelines, so people are actually buying the dip when those things have happened even though there haven't been that many dips. liz: we've got trillions the on the sidelines, much of it parked in cds and money markets and treasuries. and, obviously, wall street wants that money to come coarsing back onto the floor of the new york stock exchange through the nasdaq. into the russell 2000. what have you. where are the flows that you

anticipate that money might go first? >> so, you know, look, we saw what was extraordinary the about the end end of last year was the russell 2000 went from a 52-week low to a 52-week high over a 46-day period in the last month if and a half of last year. that showed that the breadth of the valuingly was significant. of the rally was significant. it budget only the fabulous seven that took us to the highs, they closed us out just a couple of percentage points below the low, and now we're trading at record highs across the board here. obviously, dow we hit 38,000 yesterday, that's why i brought out the hat. i didn't want to put the -- on it today -- [laughter] because we did pull back a little bit. but net-net, the s&p, the nasdaq, russell teetered around those level, you know, if the last three weeks. the breadth of the rally is significant. look, the mid cap and small cap especially within the tech sector have take on some of the money, and so the market feels strong here. the breadth of the rally is

significant. you know, for a while there the we were fear ifful that it was only going to be those fabulous seven stocks that took us to these high levels, but i think there's more to the rally than that. liz: well or, maybe investors are starting to look outside those narrow programmer ifs of the -- can program parameters of the magnificent seven. peter tuck marne our thanks to you. one quick question, do you think we'll see dow 38,000, a close once again after a yesterday, sooner rather than later or the other way around. >> you know what? i would think sooner than later. sometimes when we hit these milestones they are a bit of resistance and they do pull back. today is not significant. 1000 points here or there is -- 100 points here or there is not that significant. i think we're going to hang out here for a minute. liz: it all depends on what we see with the day da. thank you, peter tuchman. great to see you. let's bring in art. arthel: a laugher who is looking at -- art laffer who is looking at core pce which can comes out friday and then before that,

gross forestic product for q -- domestic product for q4. which one are you most focused on right now? >> i'm not focused really on either one, liz, if i may say. i'm really look at the long-term period. and what you see no matter what these data come out to be is really not very good. we had nice growth in gdp last quarter, 4.9% or whatever it was, a little bit less than that, and it looks like gdp's going to be a good number this quarter, maybe 2, 2.5, 3%n that range. but the long term, liz, it's not doing well. it really isn't. we're way below where we were on trend when trump was president, and it's not caught up, and it's not catching up. we don't have the types of growth rate we really need to catch up to the potential where we were before, and that goes for employment and it goes for prices as a well. inflation's down but prices are very high. interest rates have taped off a little bit, but they're still very high. so we have a serious problem on the economy that's independent of these specific numbers next,

just being released. liz: art, it used to be that low gasoline prices, cheap gasoline was an absolute shoo-in for any candidate who was running for president if it were the an incumbent, for example. and that is kind of what we have at the moment if you look year over year with, a year ago gasoline prices were at $3.42. now they are at $3.08. i'm hearing you say that low gasoline is just not enough at this moment. >> well, i don't think low gasoline is where with we are flight. i mean, if you look and go back to when trump left office and biden took office, you can see all of these prices have risen dramatically. now, there has been a sharp fall in gas price and petroleum prices, but, you know, that's not really lower prices at $70, 75 range. that's still pretty darn high. and the gas prices are right there. and the reason they're high, falling is because of china. i mean, china a's having a real collapse in its economy, and and

that has pushed pieces down -- liz: whatever the reason, mine, whatever the reason, let me take it to -- >> it's nicer or lower than higher, true. liz: of course. and food prices, food at home prices. i'm just looking at the numbers. bureau of labor and statistics shows that one year ago or at least if you go all the way back to '22, july of 2022 when they were around 9%, you see the trajectory here coming way back down to below 2%. if core pce comes in at the expectation of december 3%, and we're getting that number on friday, then you've got food prices arguably lower. i'm wondering because i look at the market prices, you know, the grocery store prices, they're still incredibly high. so whose fault is that? is it really the government's, or is it the retailers in and i bring this up because there is a big brouhaha between care rah

four, a grocery store chain, and pepsi. they're saying pepsi will not lower its prices even though inflation has come down. i mean, this is a problem. if the retailers are so loving the high prices that are bumping up their revenues, their sales, and they are not paying attention to the actual truth about lowering inflation. >> that's to not really what causes inflation. i mean, it happens one -- they debate and argue about what prices should be from the wholesale wholesalers to the retailers, but bottom line the price numbers are there the in a marketplace, and and not any one company can literally control those prices. what is here is you've got a macroeconomic set of policies that have occurred under this administration that have led to much, much i higher prices. i i think the consumer price index up almost 17.a -- 17.5, 18 percent. that's really the problem, and that problem is not going away anytime soon. it just isn't.

nor is the employment problem. employment's very low. people have just left the labor force, liz. and if you look at gdp growth, that's not catching up either. all of these little wiggles and waggles on the day-to-day basis just don't change the big numbers which are we are in a bad economic situation right now, and i don't see it getting better anytime soon. liz: yeah. but i'm not letting the retailers off the hook. everybody from -- >> okay, well, don't. [laughter] >> keurig dr. pepper, even projector and gamble came out with its earns today and said price hikes were great, it boosted the numbers once again. this is the another round of price hikes. they did, however, note that those price hikes will come down modestly, and that may hurt the bottom line eventually. listen, art, we can watch it all, and we can watch it unfold and see which candidates grab request the collective attention of the voter on how to fix the

bear sense and the real issue. thank you so much. >> we'll be seeing that very soon. we'll see it very, very soon. liz: indeed. sooner rather than later. we appreciate it. folks, we've got billionaire elon musk demanding more control of tesla, or he's going to take his artificial intelligence robots and go far from his ev home. should the board give in to keep a.i. growth request under tesla's hood? raz gerber is here to -- ross gerber is here to answer that question and more aced head of the ev maker's quarterly report tomorrow. we've been with telling you how sales have slowed in the last six months, the bull etf reflects that. the fund has lost 65% or so over statement time period. want to guess whether tesla's stock has fared better or worse than that? we'll show you when "the claman countdown" returns. ♪ ♪

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liz: okay, i'm looking at tesla right now. it's up a quarter of a percent at the moment. the ev maker is on deck to report earnings after the bell tomorrow. and as we look at the stock on this eve of the the fourth quarter results, it's definitely down over the past couple of months, six months. but reports are swirling tesla's trying to add a little juice here. it is taking its cyber truck on an international tour all over china. the ev merrick's looking to showcase its newest model in eight different cities including shanghai and beijing. tesla trying to persuade chinese if buyers to look at the shiny object over here. this after chinese ev maker byd just launched a new lineup to rival tesla. i think we showed you guys this thing, a lamborghini-style luxury supercar. price tag, $150,000.

but who's going to win this battle, and how much does the plant the top play into this -- man at the top play into this? one of the most loyal tesla shareholders since day one joining me now. as we last spoke to you, ross, you're kind of wavering here. gerber kawasaki cofounder and ceo ross gerber. what are you guessing for earnings tomorrow here? >> i think they're going to probably do the number i mean, there's certainly a lot of analysts who work on these numbers, and tesla gives us how many cars they've sold in advance, so, you know, there's usually some wiggle room around, you know, foreign exchange and credits and things. but we don't expect a huge beat by any means, nor would there the be any impetuses to that. what we're really hoping for is not a miss. and naturally, my concern because, obviously, they've been having to discount and throw lots of incentives to sell the cars that they're making. so that's what we're really hoping, is just that they beat the number and, you know, the it's a solid quarter.

liz: well, you're talking about incentives. let's just cut to the chase. that is price cuts. they're trying to juice the number, and they have done well. they had just reported record deliver cannilies, record -- deliveries, yeah, q4, record deliveries, an incredible number here. but at what cost? >> right. liz: that's what shareholders are probably asking you now through the tv set. >> right. and this is what i'm trying to explain to people. see, tesla is working on a dynamic pricing model where they don't make any if effort to increase demand, and it looks like the way they're trying to increase demand is by doing some sort of world tour for the cyber truck even though they don't have cyber or trucks to sell people yet. and maybe not for a while. and so, you know, they're trying to goose other sales by using the cyber truck, but they just need to advertise like every other car maker, you know, on the football game, you know, like the 49ers game had the highest ratings ever, and all

the other car companies are advertising except if tesla. people don't know anything about evs, and we've seen a lot of -- about the cold weather, and tesla makes no effort to counter this. this is what hurts them when they make more cars. they have to to lower prices to sell them because essentially they're not creating any new demand, and most of the ev buyers who wanted an ev have bought an ev. so i don't see where tesla goes from a sense of earnings. so they'll sell more cars, but i don't see how they make more money doing that with their current strategy. liz: the stock over the past six months has lost about 22%, but there's a different time point on the sort of rearview mirror, and that is around november 15th of last year the ceo, elon musk, began promoting or amplifying anti-semitic posts that are on x, a platform he owns, formerly known as twitter. since then the stock has dropped about 13%.

and a lot of people say, you know, what he is speaks so loudly that they can't hear what he is saying, well, what he's saying also speaks very loudly. what are you hearing from your clients who have accounts with gerber kawasaki and also the clients who own teslas? >> right. and i do have to stress we have thousands the of clients at gerber kawasaki on top of our fund gk which also has many clients. so, you know, most of our clients have tesla. so it affects a lot of people. but when you put up that chart about tesla's performance, what you didn't show is that the market has actually taken off since that date. so relative to other tech stocks, tesla's vastly underperformed sense elon has taken such outspoken and, in my mind, you know, controversial, negative views. and by doing that, many of my clients -- and i tweeted this several months ago -- you know, were furious and sold their stock.

now it turnses out that was probably a good move because the stock is much lore. and as a firm, we've been forced to lore or our allocation e to tesla because as we've seen the problems mount and the solutions that we with see not being implemented, we've had to be prudent as investors for our clients and understand that the story has changed. the tesla story's not the same. liz: what do you make of his play for more control? he wants 25% control of the company. right now he has about 12%. he used to have much more, but he told a -- sold a lot of his shares in order to pay for what was a are expensive price tag for twitter. the board, we haven't heard from them, we're waiting to hear. a lot of people on this board, but it's rare that they've ever, if ever, swatted down elon musk. charlie gasparino makes this point all the time. the tesla board does not rein him in. granted, over the past several years, why should they? the stock has done incredibly well. but right now the question is should he be given such a huge

chunk of power? and and he says if you don't give it to me, than i -- then i will develop my a.i. ideas somewhere else other than tesla. >> yeah. so the board is his friends and family, so, you know, i've never seen a board more conflicted than tesla, and they just settled a lawsuit where they were so overcompensated, they're having to give back $750 million of overcompensation that they settled in this lawsuit, and elon's pay package if himself is worth $50 billion today which you would think would incentivize any human on earth, right in so when you look at his pay package plus his stake, it's closer to 20% of the stake -- of stocker and he fully controls the board. and what he's basically saying is i want you to give me, like, $30-50 billion of compensation more for me to do my fiduciary responsibility to the company. [laughter] so there's never been a more

delusion. >>al ceo than i've ever invested with. liz: that's a big statement. >> yeah, i mean, it's crazy. like $50 billion isn't enough to motivate somebody? liz: let me quickly get your thoughts on netflix. it is your largest holding. >> well, no, it's not our large largest, it's one of our largest. invid yes, sir our -- nvidia's our largest. so netflix is doing big deals, and we're very bullish on netflix as now they're moving into, like, live sports and what i would call alternative live sports because they're not bidding for, you know the very expensive football packages like amazon. and now they've made a big move on wwf which, you know, quite frankly, isn't is my type of content, but a lot of people watch it. and it brings those subscribe ors more value and less reason to cancel on a week to week basis. and so we love the move from netflix and the continued diversification of their content offerings and gaming.

so netflix is an important company to watch. liz: i agree. i agree. ross gerber, great to see you. thank you very much. >> thank you. liz: barbie grabbing her share of oscar nominations today, but there's some controversy on that a win. -- on that one. we're going to take a look at the academy award show stoppers and how their studio stocks are trading in the wake of the big. nomination announcements. and the produce ors of the new hit mean girls movie chose to record all their songs at the studio of this week's everyone talks to liz podcast guest. his name is ben hyman. he didn't go to college. he wasn't a professional musician in any way, shape or form, but his persistence and his process grabbed hollywood's eyes and ears. you can hear it anywhere you get your podcasts. stay tuned, we're coming right back. ♪ ♪ (♪)

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liz: oh, boy, they are celebrating over at netflix headquarters this hour, and the earnings haven't even come out yet. compared to other streamers, netflix nabbed 18, the most academy award nominations of any streaming studio. but what about the movie with the most nominations and the studio withs behind those movies? well, oppenheimer leading the pack with 13 nods. the universal pictures' biopic about the father of atomic bomb was shot with imax camera as and opened exclusively in the imax

theaters9 at the moment the news is not helping imax, down about 11th. comcast getting a bump of just under half a percent. poor things starring emma stone received 11 nominations including best actress and best picture. the movie is distributed by walt disney's searchlight pictures. disney's stock down 1.33%. maybe you have to win to have your stock really go higher. and warner brothers' smash hit barbie earning 8 nominations including best picture, but surprisingly, none for director greta gerwig or the movie's star, margot robbie. checking warner brothers discovery, it's up three-quarters of a percent. just for fun, let me check mattel. it's mar a ginally higher. dr hourton -- horton's earnings fell short of estimates while revenue did beat expectations, raising its forecast for home steals for 2024 as declining mortgage rates, they say, are helping

ease pressure on home buyers. the stock is down 8.7%. rt, and, that's formerly raytheon technologies, shooting higher by 5.6% after reporting quarterly sales results that a beat stills. the sales were boosted by the company's pratt and whitney if jet engine unit which rose 14% and lifted its profit by 25 percent. now, the defense arm of the company saw a rise in rockets and patriot systems sales, key weapons used by ukraine to repel russia's invasion and also weapons that are being sent to israel right now. the stock is on pace for its highest close since july of 2023, and the largest percentage increase since november of 2020. all right, foreign policy, obviously, one of the biggest differences between the last two gop candidates standing. we're going live to new hampshire where nikki haley and donald trump are hoping to pick up some last minute votes. we are going to speak with former democratic governor of

the granite state john lynch and former republican governor of virginia george is allen about how they see the gop race shaking out after the polls close tonight in new hampshire. the s&p 500 still until within points of another historic close. look at the leaders that are getting them there. verizon up 6%. united airlines up 6. rtx, as we just showedded you, up more than 4 -- 5%. and enphase energy up 4.5%. we're coming right back to talk the new hampshire player. ♪ mara, are you sure you don't want -to go bowling with us tonight? -yeah. no. there's my little marzipan! [ laughs ] oh, my daughter gives the best hugs!

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♪ ♪ liz: we are less than five hours away from the polls closing in the first primary in the nation, new hampshire. for nikki haley, it could with win here or die for her campaign. you're looking at live pictures in londonderry, new hampshire, where people are lining up to

cast their primary vote. traditionally, this place called dicksville notch, which opens its poll at midnight, there are only six votes there, all six went to former south carolina governor nikki haley. but sustaining that momentum if is a whole different story. the key to the potential haley upset could be in the state's undeclared voters which is actually new hampshire's largest voting population. fox business with imadsonal worth is on the ground in bedford, new hampshire. what's the chatter? what are you hearing and see, madison? >> reporter: liz, we've been seeing a lot. this is the biggest polling location in the state, and it has been busy all day. we've been able to talk to a lot of voters here and get their takes. and like i said, it's the busiest one here. this location alone, they're expecting to count 12,000 ballots today. i want to bring you the latest in terms of the numbers we have here. as of 3 p.m., there have been 4,054 republican ballots cast and 1,032 democrat ballots.

like i said, we've been able to talk to a lot of these voters, and today gave us their take on who they're voting for and why. >> i voted for trump and because i feel that right now the world is a mess. and i think he can straighten it out. >> he didn't do another -- can't do another four more years. he's under indictment, he's not trustworthy. >> nikki haley, because i was looking for somebody younger as a republican to be the next president. >> reporter: so nikki haley actually got to talk to supporters firsthand here when he visited this polling station -- she visited this polling station this morning. she spent a lot of time talking to those voters, encouraging them and saying thank you for voting, but go tell your friends and bring another five people to the polls. and now, liz, as you mentioned at the top here, undeclared voters, those are actually the biggest voting bloc here in new hampshire. and the way it works is the way they -- once they come through the door, they have to say

whether they want a democrat or republican ballot. once they grab that ballot, they are then registered with that party. it is a really big deal to be undeclared in this -- [audio difficulty] so before they even leave the gymnasium, there's a line to go back and return to undeclared. this line right now not very long. we're probably seeing about 10 people, but we've seen it stretch as long as 50. so voters in new hampshire, they care a lot about their vote, they care a lot about making decisions. we even talked to some people who didn't know what they were going to do as they were walking in the door. it'll be excite if dog see the results tonight. liz? liz: yeah. when i worked at 7 news in boston, we were always up there for the elections, and they march to the beat of a different drum in new hampshire. they are independent think thers, as you say. and on top of it, they've got that live free or die thing, so nobody tells them how to vote is. madison, thank you very much for setting it up. she's there in bedford. let's look at another polling station in salem, new hampshire, right now. it's a little quieter there, but the new hampshire primary has

correctly predicted the republican nominee in the last five presidential elections. only three times, though, since the 1950s has the win or of the new hampshire primary -- winner of the new hampshire primary not gone on to be the republican nominee. so there's some is heft here. with two candidates left in the race on the republican side, it is a fierce battle between the former president and the former south carolina governor. could new hampshire, with less than 1 president of the total delegates in the republican primary process, at least set the tone for the country's fate? joining me now, the most popular new hampshire governor in history, democrat john lynch, along with former republican virginia governor george allen. governor lynch, you won a stunning four different times serving from 2005-2013. given your amazing understanding of what the voters think and how they think, what are you hearing on the ground there? >> well, it's similar to what has already been mentioned. i have a number of friends who

are independents. and i asked them who they're going to vote for, and they said we don't know who we're going to vote for. and they weren't planning to decide whether to get a republican ballot or democratic ballot until they actually showed up at the polling place. so i think the independents, as you had mentioned, 40% of the electorate, that's the big unknown here, you know? if how they're going to impact the republican side and the democratic side. liz: and, john, republican governor chris sununu if -- not as popular as you, but very popular, he is the current governor there. you know, he endorsed nikki haley. how much weight does that hold with the voters there? >> i think the it holds a little bit of weight. but traditionally, endorsements don't matter as much. the voters want to meet the candidates, look the candidates in the eyes, get a sense of their policies and get a sense of their temperament. and then they decide based on the candidate.

so endorsements, i think, whether it's chris sununu or somebody i might have endorsed, i think it helps at the a margin, but i don't think it's dispositive. liz: george, as a republican, governor allen -- i call you george because we know each other fairly well. [laughter] but as a republican governor, former, obviously you with understand how gop voters think. but the whole playbook has really been tossed out and torn up and deliberately so by donald trump who said i'm done with the old way of things happening. i know you have not yet declared your support of either candidate at the moment -- >> right. liz: what are you looking for before you do so? >> i want to see the candidates run a little more. and, by the way, i think it's good to have ine dependent voters voting. -- independent voters voting. what you have in new hampshire is somewhat similar to virginia's primary where we don't have registration by party, but you have to, a ballot for democrat or republican in

the primary. what i'm looking for is someone who'll be a strong leader to get our economy more competitive. bidenomics has been a disaster. i want to see productive american energy policy, strong national defense. i want them to have a policy, a credible policy in controlling our border, supporting ukraine against the russian invasion as well as israel. so -- and i also want a presidential candidate who understands that all wisdom's not in washington, that the rights and prerogatives of the people in the statements will be respected. states will be respected. so we'll see how it goes. for here in virginia, interestingly, a poll was just done by vcu, and president biden was up by 3% over president trump which is better than how president trump did in 2020 where he lost virginia by 10%. on the other hand, nikki haley is up by 5%. so i look at say jen higgins,

our congresswoman here in the virginia beach area, one of these swing districts where independent voters matter? i'd like a presidential candidate that'll help us get more governorships and especially get more house of representatives members. and so those are the issues that matter if to me. and, you know, obviously there are times where president trump's behavior is unbecoming. his policies though on the border, on energy, the sovereignty of our country were all very good. so i want the best horse that can win and pull others along with him or her. liz: well, governor lynch, that is a big problem, the fact that the border is totally porous at the moment. and even democrats are very much for securing it. if you don't have is a border, you don't have a country. how does president biden, who would love to be president one again, how does he wrap his armses around that when it's really kind of late? >> well, he's got to figure that out working with the

legislature, the legislative leaders. he's got to bring people together, republicans and democrats, and develop a solution to that. i think it is a problem. it's an issue here in new hampshire for the voters. they think it's a problem. so i think the way you tackle that is -- people have tried for many, many years to deal with it. you have to bring republicans and democrats together. the leadership of both parties together. and come up with maybe a compromise, but a reasonable solution that will protect the the borders. liz: governor lynch, governor allen, we thank you both very much. we love when both sides come on together to have these types of discussions. i think most of the country wants to see government work. they're centrist. we shall see what happens tonight, and everybody needs to watch fox business and fox news because we are covering it every step of the way. our thanks to everybody. charlie gasparino is up next. stay tuned. ♪ ♪

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♪. liz: well the price of bitcoin has now fallen well below the 40,000 level as investors with large holding in grayscale's bitcoin trust, cgbc, liquidate their positions.

ftx sold 2 million shares. that is one billion dollars in gbtc. that was part of the bankruptcy proceedings. those outflows are contributing to bitcoin's falling price. ethereum is also having a down day. here's the question, will one or both of these developments in crypto land slow the approval of spot bitcoin etf application? charlie gasparino. >> bitcoin is buy the rumor, sell the news. the news was that the ftc approved etfs for blackrock and bitcoin. with the force of larry fink,ed head of plaque rock behind the bitcoin etf, that was a pretty big plus because it was running into a lot of skepticism by gary gensler, the sec chief from day one. ethereum will be an even harder lift. i said that in the past. i can confirm right now what sources close to the commission and the applicants for the new

bitcoin etf are telling the fox business network. as of now the best thing you can say that the sec is slow walking the approval of the etf, ether, spot etf. liz: like they did with the bitcoin etf. >> they did but this is a little different and here's why. gary gensler said bitcoin was a commodities, not a security, and comes under sec purview. there is no sort of regulatory impact. ether is a little different. that is gray area. they could make the head of ether pay a fine-like i did with ripple for selling an unregistered security. that is where we are right now. those are sort of the headwinds facing the ether etf. gary gensler is still not clear whether this was legally issued security that has not been registered with the sec if you

remember the ether people early on they did an ico, an initial coin offering. they got a pass from the sec and trump's sec from jay clayton. whether they get it pass from gary gensler is another story. he last come out, says he is not sure. he thinks it is a security. i don't think you an approve an etf of something, if you're the sec that you believe has been issued illegally. so the best thing you can say right now -- liz: yeah. >> you can't. but he will have to get some regulatory clarity i believe ether is a currency, not a security. the best thing we can say right now this thing is being slow-walked. is a much heavier lift. the applicants will make a try to the sec to try to get them to change their mind. again you have the big kahuna here, larry fink, who has a lot of power in washington with both republicans and democrats who will try to push this through at

some point but gensler may draw the line. this is dicey political territory for him because he hates crypto. elizabeth warren who he kind of reports to, the powerful massachusetts senator who makes a lot of calls on the biden administration, economic matters, is not crazy about crypto. put all that together this thing might not go until you might need a trump sec chair which i am predicting right now, will be, jay clayton again. liz: really? >> i believe that jay clayton will come back as sec chair under trump if -- trust me, you know here's the thing. i don't know that from any conversations. i know that because i just know how people think, once they get in that job, they kind of like the job. liz: want it back. like the power. charlie, thank you very much. talk about a neck-snapping turn around, just yesterday, top of this show we were showing you chinese stocks that were imploding but they're going from trash to treasure at this hour

on news beijing might be formulating a 278 billion-dollar stock market rescue plan. that was enough for tencent to erase its loss yesterday. it is now up 5.6%, okay? alibaba fell more than 1% yesterday. now it is soaring nearly 8%. jd.com, look at this one, two day charts having a massive rebound as well up 7% after its 2.8% loss yesterday and baidu erased 2% drop up 7 1/2%. while chinese stocks are on the rise our "countdown closer" was saying weeks ago, buy these stocks, they are too cheap not to own. john nowerry, manages 6.3 approximately dollars as the cio after nfj investment group. full disclosure, you and i were talking yesterday, last week, rather, and you said i know they're dangerous. people are scared to buy chinese equities but they're just too

cheap. then i saw everything fall yesterday and now they're back up. this is a tough, tough sector to invest in, is it not? >> it is. good to see you again, liz. a couple things i would say, you know, if you invested in the csi 300 back in 2002 you were still beating the s&p 500 handily through 2020. the underperformance is more recent. we have had three back-to-back calendar years of negative returns in china. you had, you know the last three years, last time that happened was in 2000, turn, 2002. subsequent year, 2003 the market was up 280%. first i think similarities. valuations back to those levels, liz. the second thing i would say, the dollar, okay, is at the strongest level since it was back in 2002. you essentially have companies that are priced at levels that they're not going to have any

growth and these companies are growing. liz: they are. >> particularly with jack ma stepping in, buying up shares of alibaba, $50 million worth, i think sends a signal that things have gotten a little bit out of whack with fundamentals. liz: john, what would you say? we have 30 seconds, to people who say china is uninvestable? >> well i would say that the stock market in general is the only thing out there when it gets cheaper people think it gets riskier. our job as active managers to go through to weed out the companies that are broken and identify the ones on sale that have been disregarded, that have stable fundamentals and growing cash flows. liz: great to have you, john. [closing bell rings] john mowery of nfj. it is looking like another record for the s&p 500. any gain makes it. the s&p is up 14. tomorrow freeport-mcmoran ceo. ♪. larry: hello, folks, welcome to "kudlow," i'm larry ku