performing ipo. and i was actually thinking thae chatter on reddit. if you look at where reddit last raised money, it was a $10 billion valuation in 2021. the whispering is that reddit may go public at a $5 billion valuation. that is the opposite of what i know has a really irritate thed you -- charles: yeah. ripping off the public. >> well, in in this chatterer, you've got the retail investor getting it at a cheaper price than the last bunch of vc money, so that's a good day for you, charles. charles: it is. i'm tired of overvalued ipos. not just overvalued, but to the point where i think it's been theft. ann, it's been too long. >> even though we clash. charles: we will match up. [laughter] i was matching with victoria though. all right, folks, that's it for me. an amazing day, but it's not it in the market. liz has has got you covered the liz: let's hope it's double boxed.

the viewers can vote and said we class or are we just shades? thank you very much. good to see you. breaking news, markets on track for a record-breaking final hour of trade. cds gains on a down s&p, the dow 234 points and the s&p gaining 65, those are new all-time record squarely in sight, the nasdaq having a solid day at 2% at 287 points, which absolutely slayed fourth-quarter earnings expectations, shooting higher right now by 20.5% to a record high. the rocket fuel powering this was the surprise announcement, the social media giant. with first-ever quarterly dividend of $0.50 a share. mark zuckerberg called a good quarter. kind of understating it because it was pretty amazing and the outlook is strong too but considering he owns 350 million meta shares, probably doing a

happy dance because that dividend alone will net him $700 million annually. just want to show you amazon, zuckerberg said the billions and growth came courtesy of a i recommended video content. amazon whose stock is up nearly 8% to a 1-year high announced it too is jumping on the ai chabad bandwagon unveiling rufus. raise the rufus, the ai personal shopping assistant. a sunny outlook 2 $171.91. that's a gain of 63%. apple doesn't exactly get to join the earnings party although it has just turned slightly positive at the moment, the company forecast current quarter revenue of iphone sales below wall street estimates but ceo tim cook was all smiles this morning. he helped to open the new york

city apple store so customers could get their hands on the first division pro head sets. after two weeks of preorders apple has yet to reveal sales and numbers. apple fan boy says the number is 200,000. let's go from 200,000, to 350,000. that is how many jobs the economy added in january, that number completely obliterates the one hundred 80,000 expected, the unemployment rate stayed, 3.7%, close to a historic low. barring a surprise shot, that strong jobs number solidifies what jay powell said in response to edward lawrence's question wednesday about the yards of a march interest rate cut. he said, quote, unlikely. we are still in the throes of earnings season. everyone from walmart to caterpillar which was hitting a 52-week high, armor holdings, disney, mcdonald's, still get to report and those names could

move the markets for now but let's look what is happening at this very moment with the floor show. we have brian right here, the internet and software analyst, trader keith fitzgerald. you have been inequitable through this entire run. you been shoving it to naysayers, ready to take a little break here or not yet. >> no way. in the middle of the race you change tactics, change what you are looking at but you don't stop the run when you've got one. liz: much of today is propelled by big tech and that's where brian comes in. you are the internet analyst. a lot of people listen to you. big tech analyst. of the big names reported yesterday, apple, meta, amazon, amazon jumps out at you most, right? >> the real shock was facebook meta-last night. what they did is downsize the

workforce 22% last year, investing aggressively in ai and a lot of these products are starting to take off. reels which is a baby, 130 active users. there are a lot of pillars under meta that's propelling this growth. liz: it a relatively new business. >> reels is contributing to net revenue and -- for over two years. that the big change. i think probably the biggest pivot they made was downsizing in the efficiency you are seeing at meta. that's why the operating profits are the highest we've seen in three years. liz: do you are about apple? >> apple is going to have a tough year. greater china revenue down 13%, chinese government is pushing back, banning apple iphones.

and huawei you are seeing a resurgence in china so there's a lot of forces, i think this cycle is very muted, people are hanging onto their iphones longer and longer, there' s not really you need to upgrade every year. liz: keith, you've been very positive on names like nvidia, tesla. look at hazlett today, if we look at the intraday chart, it has erased much of the 3% loss that showed earlier but does have a huge recall that it just announced millions of cars, does that scare you off at all and what elon musk said on the earnings call which was it's going to be a rough year because the competition is front and center. >> interesting question. i wouldn't be very good at my job if i worried about every squiggle. the bigger picture is you've got a very controversial ceo who is also a visionary.

companies like tesla pivot every few years. amazon has done it, microsoft is done it. it doesn't bother me. watching the trading action carefully, you bet i am, because i think the company will go a lot higher. i think it triples in 5 years which is why i'm going to stick with it. liz: we are at record highs for nvidia. another of your favorites. how much higher does this go? it feels a little frothy. let's be honest. when it comes to all the use ai hysterics, there's legitimacy to it. i'm not going to wonderstate that but i would get a little concerned, especially, in tellers at the bottom of the nasdaq, the dow today, because they have to scale back or at least delay their buildout in ohio because a couple of issues, market conditions, not to mention the chips act money is slow to come from federal government.

>> very different companies, that's the important point you're hitting on without hitting on it. not all tech is the same so if you look like a company, they are neck and neck at the head of the class, intel is focused on the pc market for reasons that defy explanation. why he's continuing to go their doesn't make sense to me either as an investor or a traitor. to me the gain is about picking bets carefully, looking at where the park is going, not where it has been. liz: where do you see it going if not in the magnificent 7? >> valuations and market caps are huge but on a pay basis, fairly reasonable for the companies i govern, meta, amazon, apple, even alphabet who we have a neutral on.

valuations are still pretty reasonable. are they over owned? are they too high the percentage of indices? as so looking at profits, i don't think so. if we have a downturn especially digital ad bottoms. liz: half a year ago people asked if nvidia would climb and it has continued to climb. it's a very tough call to make and it is a moving target. the way they are going up, hitting a record high today, what meta had mentioned today, they were not boosted by high spending by china-based advertisers and ai recommended content. that's the surprise about china considering the china iphone sales for apple are week. >> what i noticed personally, they are advertising like crazy on the web. you google anything, get any

website. those companies, there's others, are going to facebook, they are going to other social media sites, paying for the boosting digital ad spending. if that goes away it will be harmful. liz: you want to get in on that? >> that the sharp observation not a lot of people have focused on. facebook, as powerful as meta is becoming with this thing, they are uniquely subject to china's whims for the first time in history. this is a very interesting juxtaposition. liz: who knows if xi jinping decides the owner of she and is too big for his britches, you see the drama that swirled around ali baba and the whole thing is very confusing. looking at meta right now,

20.6% gains at this moment. great to have you both, thank you so much. it's the silicon valley spelling test. vc, and ai, what do these four letters mean protect startups looking for vc money? the founding coo of paypal david sachs is here to tell us if silicon valley is investing big bucks on anything other than artificial intelligence and how did he predict this week's regional bank selloff well before anybody expected the hiccup we saw come wednesday, stay tuned, we are coming right back. chat hitting an annual high right now, up 26% just over the past three months, so glad you are joining "the claman countdown" because the dow up 257. and again is a record and the s&p also up 68, just needs 27

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♪ ♪ liz: forgive investors and regional bank stocks for grabbing the prilosec this week, it's a tough day for the sector following new york community bank's quarterly earnings report citing commercial property loan exposure, new york community bank dramatically cut its dividend. look at this chart, not pretty, stock tumbled wednesday to a record single day drop of 37. 6%. we are seeing a comeback of 5. 3%. 3%. week to date, stock has lost 41%.

that jump trigger slide in the whole sector. the regional banking index plummeted 7%. this come as a surprise for the markets but not david sachs, we could on his podcast he sounded a storm warning alarm we noticed. >> a few other things are going on. the fed has announced they will end the bank funding program on march 11th is that could reveal weakness in the regional banking system. we had a banking crisis march of last year that they papered over. liz: david sachs joins me now on fox business exclusive. we said we've got to get him in here. that was a week ago when nobody was talking about that particular issue you said was a concern and it came as you and the gang were marveling over the market melt up which is

happening at the moment, but the funding program that makes additional funding available to depository banks, in essence to ensure they have the ability to meet the needs of customers, why was the ending of that yellow flag for you? >> we had the regional banking crisis last year around march. we know if it in silicon valley, and the fed came to the rescue, the regional banking system by making this unprecedented program available, hundreds of billions of liquidity in regional banks. by loaning from full value for their toxic bond portfolios. that's coming to a end on march 11th. i think regional banks, have to deal with that. the reason those banks are undergoing stress is because

they've got portfolios with interest rates. there's an inverted yield curve and risks in commercial real estate portfolios. i wonder what will happen, with the initial liquidity. liz: on march 12th when they kicked the bank term, recent events stressed certain banks, these are unusual circumstances. we unanimously approved usage of this term funding program. you think they will be forced to open it? regionals are showing a comeback today. >> there's a lot of stress in the regional banking system and this is propping them up. once you remove fat, we will

see more stress. i can't predict exactly what will happen but with the yield curve inverted and dollars risk in the real estate portfolio held by regional banks, you are in for more volatility. liz: ranks are not coming down, they are moving higher today, both of them. the yield curve is in the green. let's talk about events beyond the regionals. we've got a lot of problems around the globe, things going on with houthi rebels. is there anyone in particular that you think has the power to wake up the markets and scare them if not put a lid on what we have seen recently. >> in terms of storm clouds on

the horizon there is geopolitical risk. almost certainly extending what we are seeing with the sea lanes in the red sea. you might get more problems in the strait of hormuz that might impede the flow of oil to global markets. that would have a huge impact on markets. we have to see what the markets will doing in terms of striking back against the militias that attack our service men with a drone on the syria jordan border. there's a lot of geopolitical risk. markets don't seem to be paying much attention to that. the assumption is biden's response will be measured and he won't get its into a war with iran. liz: the markets sloughing off because they are too busy looking at the ai shiny objects.

you've been talking about how frothy things have gotten. is there a landgrab that is pushing every possible ai target whether it is venture capitalists to fund or companies to acquire that might not have the best ending in a couple months or a year or two? >> anytime you get a platform shift like this you get investment and most of the time when making high-risk investments, most of those don't work out but you hope a few are big leaders. i expect that on the whole, investing will be productive. in terms of why you are seeing such a rebound in tech stocks led by meta this morning, you have a combination of ai creating excitement but also over the past year and 1/2

these tech companies kind of whip themselves into shape, they are more profitable. you are seeing a rebound in revenue and forecast. early 2022 through q3 of 23 we are in the software recession. what we found out in q3, the acceleration of growth rates, you saw with meta-today announcing a dividend and very upbeat forecast for the next year. we are out of the software recession now with a general feeling of re-examination. this is all leading up. liz: there were so many startups people and company leaders said i got to buy that i got to buy than in a crash to earth for some of the startups, not talking specifically about ai, but could that be the next

somebody will end up crying? anthropic is a real ai leader at the moment. google invested in it. amazon has given several billion dollars. do uc anthropic as a peak? >> when they get excited about a space it creates a new bubble. it's a series of shifting or rotating bubbles. that's not something we agree on as well. when a space gets hot there is something real going off and a lot of froth. in any particular case which one it is going to be, we will see a lot of growth. we had an asset supermodel in 2021 that wasn't limited to

venture capital. we have roughly 1400 unicorns minted over the last few years and a lot of them raise the peak in 2,020 one. they are going to need to raise in 2024. if numbers don't justify the valuations, we have trouble raising or take it down, there will be a lot of pain in the system so even while you are seeing tremendous excitement and new investments around the ai space, there's a problem with this bubble that happened a few years ago. liz: they come back. i want to touch on what happened in congress this week with social media ceos, mark zuckerberg turned around and apologized to parents who were in the audience coming in the room, who, their kids had committed suicide, the things

they've seen on social media. what did you make of that? does it change anything? >> we have been hearing about these issues for several years. the report was set up to ambush social media executives and make them scapegoat for every social and cultural ill in our society. the reality, does what is happening online contribute to social ills? yes, but so does the will be rex the music industry puts out promoting sex and violence, same with television and movies, body image issues. there's a lot of sources. liz: we've got to run, we are up against a hard break. dollars up 221. more efficiency.

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in predator in the 1-handed golf teacher in adam sandler's happy gilmore. recently appeared in the star wars spinoff series, man mandalorian. we've got a fox business alert. healthy gains for cigna, the company reported strong, fourth-quarter numbers that beat expectations due to lower than expected medical costs. the insurer boosted its profit outlook for the year, the earnings report comes days after cigna announced plans to sell its medicare business to healthcare service corporation. the country's largest customer own health insurer for $3.7 billion. look at clorox stock, seems to be cleaning up the aftermath of an august cyber attack sending the stock up 5%. they gave 2024 profit revenue guidance that slade expectations.

clorox said the cyber attack led to mass shortages costing the company $49 million but the plan is ahead of schedule giving way to solid earnings in its fiscal second quarter. we should look at sketchers, stumbling 9% after the sneaker maker reported week fourth quarter sales, issued a first-quarter earnings forecast the missed estimates, the company did beat profit but investors disappointed in the slowdown in wholesale channels due to retailers conservatively managing inventory levels across the board. this is the bottom of the s&p 500, investors turning off charter communications after the company missed earnings in its fourth-quarter report, the stock at the bottom down 16. 5% after the cable giant reported a loss of 257,000 paid tv subscribers do it or to its

contract dispute, the spectrum parent reported a surprise loss of 60 one thousand internet customers in the fourth quarter, this is not a good day for charter shareholders at the moment. tim cook's vision for hot new product went on sale in apple stores across the nation. he showed up in new york city to make sure the doors were open for vision pearl customers. this comes with a hefty price tag but apple enthusiasts are snatching them up. alive report from new york city apple store. the competition is there. htc vibe has a virtual reality head set of its own. it is a third of the price, we are doing surgery right now. you can see brandon in our studio. we will cut through the noise. the big difference between the head sets and the business model, stay tuned, chevron at

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and the other goals along the way. wealth plan can help get you there. ♪ j.p. morgan wealth management. >> today's the day the apple faithful have been looking forward to since june of last year. tim cook throwing the doors of the apple store on fifth avenue, customers lined up to buy the tech giant's vision pro head set. $3,499, the actual cost could be closer to 4600 when you factor in accessories like to hundred dollar carrying case and spare battery pack, you might need that because the vision pro promises two hours of use per charge. 's is apple pushing the boundaries of virtual reality

price or will the new head sets beat too expensive for a mass audience? how long have you been at the apple store? the crack of don? >> sin 7:thirty am. there's a lot of people around. i was surprised given you have a seat price tag which you just mentioned and wintry weather but regardless, they were here hoping to be the first to get their hands on a new vision parole. tim cook flying in just after earnings to open the door to the fifth avenue iconic cuba and i thought it was interesting in that apple is betting we will spend more time in the virtual world, spatial computing is what we call it. you see advertisements for the vision perrault, looks like expensive ski goggles packed and loaded with technology, four iphones worth on your face, i caught up with tim cook inside and i asked the price point which he defended saying

you are paying for a piece of tomorrow today, more and more people by the vision pro my they figure new ways to use it and it is interesting a lot of the people lined up earlier this morning were developers racing to get their hands on a vision pro to figure out how they could make something new for it and they said price isn't an issue. >> it is a lot of money but the next iphone in my opinion. >> the price point is not throwing me off. >> is this going to be a big hit or not? we don't know until we try. >> reporter: i tried the vision pro and meta quest 3 and the apple technology is incredible, no hand controllers. all you have to do is look at what you want to bring up, it tracks your eye movements, they won't ship a lot of these,

400,000 ramp up to five million according to morgan stanley in the next half decade but this is the ammo of the apple so the iterations with each generation hopefully get cheaper, lighter, faster as normal people use it. liz: remember hat head? now we have the are head set head. this is a big priority here. thank you very much. really interesting to see the numbers of people, not exactly as hysterical as you would see the lineup for the new iphones but apple is jumping feetfirst into the head set market and when it jumped in the water will find stiff competition. apple's head set 3500. the htc 5 x our elite stands at less then a third of that price, meta's latest oculus quest 3 is cheaper, 499. how does the competition stack up against the titan of tech.

joining us in a fox business exclusive is dan o'brien. you are super hot right now. we are going to demonstrate in just a second but first, tell me why you feel yours is a better piece of equipment, better technology than apple? >> we have been working with all of these different developers and applications whether on the consumer or commercial side, whether it is the ergonomics, pricing, and bidding out at scale. it is here and now and we've been defying it. liz: commercial is very important but it may be a bigger revenue dropper, we are talking enterprise, you've worked with adidas, you've worked with all kinds of companies. >> aerospace, medical, healthcare, boeing, airbus, you

name it, we are working with it, nasa, we are heavily ingrained in financial services in the healthcare industry. the dod is adopting this because of the volume and level of training they do. liz: we will demonstrate this for you. this particular one is called the flame. brandon will help me put on the head set. this is firefighter training. you want to hand me the fire extinction? you guys are going to see, this is the handle here, you are going to see me training. tell me why this is better for fire departments to use? >> what you are doing is realistic training in that environment. you will work through the physiological response of that crisis environment.

liz: let me restart. >> you don't get a lot of situations until it is live inside that environment and we have to make choices, the right fire extinction based on the environment we are in. you need to make the right choice and the right decision at the right time. liz: there may be a person i need to rescue. >> it is about actual respond training whether you are medical professional getting through your surgeries or nypd officer and responding to a crisis, you need to be trained in a lot of different situations. liz: should we do the surgery? i'm ready to do whatever. >> some of the benefits we've seen, 8 times faster, getting through training and 8 times reduction in cost, and faster surgery.

and this is all scalable. what we were seeing earlier, that is 25 medical schools around the world. we trained 8,000 medical professionals from that application alone. liz: cadavers are expensive. with the firefighter application they have to build homes and sacrifice cars, cost a lot of money to train. what we just showed saved a lot of money so we will be watching htc live developments. dan o'brien. it's groundhog day, punxsutawney phil did not see his shadow. that supposedly good. that means there's not much more winter. today, predicting the s&p 500 is also close to its 2024 highs, bank of america's sub

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♪ ♪ liz: media banking boutique lion tree headed by rea burke of is gearing up for its annual media slopes conference next month, but the turnout is expected to be greatly diminished compared with prior years. this has also been a very hot invite. charlie gasparino, what's going on? >> margot robbie last year, who's the gentleman at openai? forgot his name. liz: sam altman? >> sam altman. liz: why are you always asking me? [laughter] >> i forgot his name. you name it, it's a who's who. they had to sort of katie bar the door, to -- so to speak -- liz: hot invite.

>> it's the hottest invite in media. it's in march, the first week in march, march 3rd, 4th, depending on the weekend. dan loeb used to go, david zaslav goes, and you used to get an incitation by mail. it was -- invitation by mail. it was like being summoned by the king. running this boutique-y firm. not so in 2024 from what we understand. sources are telling the fox business network, here's what we know, instead of people trying to get in, they are calling people to come. er the planning a scaled back conference, manager like 150 as opposed total past it was 250, 300 and, again, people were bang on the doors to go. i can't tell you if margot robbie's going to be there this year or kevin mayer, i can tell you shari redstone's going to be there. but from what i understand, the landscape, be that as it may, is causing them to rehi this conference. rethink this conference. it's dramatically scaled back, i've been told. and it's like weirdly

invite-only as if they don't want anybody to know that they're inviting people. and it's -- they, meaning the senior executives at lion tree are calling people that they generally bank and asking them, would you come, please, and letting them know when it is. again -- liz: you know, deer valley's a big draw. it's gorgeous. >> right. liz: skiing. high end. so now their actually asking people to, please, come. >> yeah. i mean, like, listen, i would -- you know, in the past you would want to go to this thing. you'd be asking them. it was, i think it was better than al and company, the other media company. they didn't have to really ask people. liz: do you think it's the landscape, as you say, about media at the moment? charter, for example, is at the bottom of the s&p 500 right now. it lost hundreds of thousands of subscribers, but it also lost some internet -- >> well, listen, paramount is -- did i say that right? liz: no. >> paramount, they're trying to

sell it. everyone's saying byron allen is buying it, but we don't know if he's got the money. you know, this is -- linear tv, television, is problem9 mat ifi. i think that's part of it. and who knows what else is behind the scenes. i don't know, you know, where lion tree is in the sort of media banking ecosystem now as opposed to last year. we should point out they had, they can did have layoffs at, i think the last two years i reported it, and they've had other issues. so stay tuned with this story. i thinkable story has legs. liz: charlie, thank you very much. charlie gasparino. it's ground hog day, and punxsutawney phil did not see his shadow, meaning he predicts an early spring. if you believe any of that nonsense. all right. meanwhile, how countdown closer predicts the s&p 500 is going to touch 5,000 by tend of the year. i mean -- by the end of the year. look where it is right now,

4964. will invest if ors see that number? joining me now, bank of america's securities ahead of u.s. equity and quantitative strategy, savida. it's great to have you. >> hi, liz. great to be here. liz: well, or it's not far off. [laughter] >> it's not a really bold call. liz: looking at a record right now. >> yes. yes, yes. liz: okay, so -- >> look, when we launched our year-ahead forecast, it was very bullish, and the market just did everything in the if next month or two. so here we are, we're sitting here at all-time highs on the s&p 500. you know, the leadership has been surprisingly similar to last year. it's been these magnificent seven mega-cap it can companies. but i think what happens from here is a broadening in the market. so i think we start to see, you know, or other companies take the reins and and, you know, some of these mega-cap tech companies could still continue to work, they could still continue to move higher but not necessarily to the stratosphere

if like what's priced in. liz: okay. we haven't yet seen that. you just need to look at meta, amazon. >> i know. liz: -- right now microsoft, nvidia is hitting a record high too at the moment. if you were to advise clients and our viewers at the moment, okay, it hasn't broadened yesterday, but -- yet, but here's where and -- >> here's why and when. yeah. think about what the fed's going to do. the cash yields are really healthy, 5% retirees are sitting in cash making a really great spread between their cash return and their mortgage payments which are, like, 3. what if the fed starts cutting interest rates? that spread narrows, and i think what happens is retirees who own the lion's share of assets, you know, i think there's, like, $80 trillion worth of net worth sitting on retiree balance sheets. that money is going to be looking for income to live off of, and i think it's going to move back into high dividend-yielding stocks.

so our favorite theme in the s&p 500 -- and look at what meta just did. they initiated a dividend, which i think is a very interesting signal -- liz: 50 cents a share, yeah. >> that's not a lot -- liz: but it's a -- >> it's a signal. liz: it's the a growth stock. obviously, utilities -- >> yes. utilities, real estate -- liz: telecom. >> exactly. and i think you've got to be careful because some of these high dividend-yielding stocks have some credit risk, so hook for companies paying a healthy dividend above the market, better than what you can get in cash over the next few years. and it turns out there's at least 80 companies in the s&p 500 right now that pay a dividend that is going to beat your cash return over the next three years if rates peak out here. liz: okay. >> i think that's the value proposition. liz: i was just looking at the short end of the curve really quickly because we're about a minute away from the if market closing. you're looking at a 1-year, 4.28. a 3-month -- if you're not sure you're look -- ready to go into

stocks -- >> indeed. stick it out. sure. maybe don't buy now, but i think there's money that is captive that is likely to move into stocks, so it might be worth buying a little bit early and, you know, waiting for those flows to come in. the only way this doesn't work is if the fed actually starts to hike interest rating even more which i think is a very low probability event given everything they've told us. but i think that the theme from here is just where are retirees going to get their income. liz: savida, great to see you. tell the gang at bank of america we said hello. all right, fire off the fireworks, folks, what did i tell you? it was going to be another record day for the dow and s&p, ninth of the year. we are so ready for you, monday. mobius capital partner ifs' mark mobius and former apple ceo john sculley with us live. "kudlow" is next. ♪ larry: hello, folks, and welcome to account kudlow." we start with breaking new