this. they spend our tax dollars based on these sort of weird things that, hey, we're doing so great, we can afford to spend a trillion here and a billion, a hundred billion there, it's just not happening. americans have told those powers, those in power that they're hurting, that this spike in inflation, 40-year-high inflation because the rate of inflation if lessened, they are not dumb. they understand it doesn't mean that the price goes down. the prices are not going down, and as we saw today and taylor made the point, the majority of those 19 components of the cpi actually reignited higher. so this is something to keep in mind. don't try to pull the wool over our eyes because, quite frankly are, it's expensive these days. liz claman,s over to you. hawaii a laugh. charles: charles, i wonder if you could just stay in the chair, and we'd love to add your voice to what's going on if, if you could, because you're looking at a specific names in tech hitting certain levels, so that would be great. we've got a whole host of names

lining up to help people get through what looks to be a crucial final hour of trade if you care about your money, and i know all of you do. that's why you're watching us. folks, see that 729-point loss on the dow jones industrials? the low is even worse, a loss of 757 points. the blue chips are enduring their worst day in 11 months right now. if you look at the s&p, down 94 points to 1.8% loss there, good-bye, 5,000. we've got the s&p 500 at 4927. the broader index saw its previous close of 5,021 vie porrize right at -- vaporize right at the opening bell. that 2-day drop, pretty dramatic. we're going to get to whether this is a dip a lot of you have been waiting for as an entry point, but look at the nasdaq intraday. we can see at the moment that the nasdaq is just getting hammered, down and about 2.25%

or 355 points to the downside. low of the session not much further, 365. so we are very close to the worst points of today. the russell 2000, i mean, the small and mid caps tend to get really hurt hard when the rest of the market is going. look at this percentage loss, a clip of 4.25% right now. the russell's down a stunning 86 points. why is this all happening? well, gang, the markets had six and a half hours to e digest the latest print on consumer inflation, and investors still have symptom the act a pains. on -- stomach pains. on a month over month basis, january cpi crossed the tape at .3%, .is -- .1% higher than expected, and year-over-year it did cool to 3.1% from december's 3.4% but still hotter than the 2.9% that the economists who really thought they would see it there, that's what they

expected, not going to happen. it was hotter than that. month over month core cpi, which excludes volatile food and energy costs, came in at a .4%, .1 warmer than economists thought, and cpi at 3.9% above the 2.7% estimatement for all of you that were holding out hope that inflation has cooled enough to make jay powell comfortable enough to cut interest rates by may at least, look at the intraday of the 2-year treasury yield. if this chart could speak, it would yell, gang, time to wake up. it is not happening. the 2-year is seen as a proxy for federal reserve policy, ask and right now that -- [laughter] yield is up 19 basis points to 4-- oh, that's interesting, 666? oh, okay. the devil. and, listen, this is basically screaming stop your hoping. and if you look at the fed funds futures, i don't know if we can

see that that right now, but for may i am looking at just a 35% odds now that we will see any kind of cut. you can hear the whining in all the 11 s&p sectors about this. tech and financials look green around the gills, but bigger losers include real estate, utilities, consumer discretionary, basic materials and financials. that's what i really want to look at, okay? financials. not just the biggies, but if you look rat at a the -- look at the regionals right now, they are bending and creeping under the weight of this selloff, folks. and i'm going to bring up some names here, valley national bank down 9.6%. you've got thompkins financial corporation down 7%. amtb, that's ameriant bank corp., down 7. cma, down 6.33% p. i mean, see, this is comerica, that's a big clip there.

western alliance which, of course, a year ago in march really struggled after silicon valley bank had inloaded and gone -- imploded and gone bankrupt. so this is not a good picture here. key bank, down 5.9%. new york community bank, and that's the one that has been stressed out the past up couple of weeks after it reported numbers that missed estimates but also they had to slash their dividend because they had too much exposure to commercial loans. this is kind of precisely the moment where the market is now cheaper to buy. if you look at big financials, you can see the big names in financials are also a getting slammed here. we've got let's say goldman sachs down about 4.33%. let's see, morgan stanley down 4%. citigroup down 2.9%. jpmorgan down -- is that 4? if 1.5%, down 1.5%. so what we're going to do is we're going to bring in some voices here to get everybody on the same page about what's gown

on and whether this is an opportunity to buy or if it's just the beginning of a greater selloff or perhaps a bigger correction. we're calling it the floor show, as we always do. joining us now, senior u.s. economist at bank of america and our tuesday trader, sarge. of course, sarge guilfoyle. and i believe charles payne if is -- oh, he a had to run. probably because he had to go -- [laughter] work on his stuff because it is a big situation that we have this moment. sarge, tell me right now, is this an opportunity that you look at as a let me pick up some things that i really wanted but were too expensive lately, or is this a little or worrisome? >> it's a little worrisome. if you read my note, you know that i took some top hits last night in the nvidias, crowd descriek, sealsforce, those -- salesforce, those types of names. i'm still the long those names. i looked at it as a more of an opportunity to get long the kind of names that i really want to be long maybe forever, maybe

beyond my lifetime, so generational for my family, names like sofi technology, palantir technology. i consider those names crucial to the guilfoyle fortune of tomorrow. finish. [laughter] so, yes, i took advantage and bought those names. i got out of all my bond funds, got out of those. we really have a problem, liz, because the junkies in washington, d.c. have blown up economic performance, okay? we put a q3 if gdp of 4.9% although we had a gdi of 1.5%. so they didn't match, but they went with the higher number. that's a fake number. january non-farm payrolls, oh, we gained 353,000 jobs, didn't we? if no, actually, we lost 2.6 million jobs in january, but it's seasonally adjusted. so if you lost your job at home, don't worry, you're probably really employed seasonally adjusted. through the onslaught of deficit

spending, these morons in congress have actually blown up money supply since prism so even though the fed has reduced their balance sheet by $900 billion over that same time frame, whoo, we have inflation. liz: okay. >> and guess what? outside of goods, we have a --head liz okay. we should go back to intradays of the markets, if with we can, and we're looking at a volatility spiking more than 16%. tell me, is this warranted, this cpi number which was slightly hotter than expected, does this warrant this kind of selloff with the dow down 732 points at the moment? i mine, when you look at that concern i mean, when you look at that percentage loss for the nasdaq and the russell el 2000, pretty dramatic here. >> this was a discouraging report for the fed, no question about that. it's not just that the cpi came in stronger tan expected, but it's the components. services inflation was where the beat happened, and that's where we're concerned that a tight labor market is fueling

inflation. that's always been the concern for the fed. and when you see that play out, that delays the possibility of rate cuts. liz: i mean, but the vix up 20% right now? >> right. so it's difficult to say whether a market mover on a specific day is justified or not, but i think broadly the story here is markets are pricing out fed cuts. we ought thought -- always thought the amount of fed cuts were overdone. it was six at one point, now it's the four this year, we think they'll probably end up only delivering three. liz: only delivering three. i can't even believe you're saying only three. what are you saying, sarge? i mean, i think it's the going to be two or maybe one at this point. >> you know what? i came into this report thinking three, like my colleague here. but after this report, now it's only one month, but look at this, services x energy, up 5.4% year-over-year. auto insurance up 1.7% -- liz: shelter. >> -- up 20% year-over-year. i don't think they can cut

rates. i don't think they should cut short-term rates. i think what a kenny told you yesterday, right? i'm with kenny on that. liz: exactly. and hook at the january housing inflation. the shelter numbers are just going up and up. and before we go, what does that tell you about the overall economy if people can't afford housing and the auto insurance? and by the way, we're starting to look at auto loans that are starting to show a few cracks. i mean, the new york federal reserve bank put this out, auto loan distress. third quarter, 7.4%. that means distress means 30 days past due. fourth quarter, 7.7%. how concern concerned are you about the consumer? >> so we think the consumer's actually in good shape. liz: okay. >> demand for housing actually is holding up fine. right? shelter was off the this month. we think that's probably a little bit idiosyncratic. we might get payback for that next month. there's also other components of the cpi report that don't read

through into the p -- pce. the fed watches the pce, and it'll probably be softer than cpi. still too high for the fed's comfort but not as a concerning as today's data. liz: gentlemen, today's data has certainly spooked the houses of this market. we -- can the horses of this market. the dow down 725 points. let me just keep an eye on the volatility index which is the market's fear index. now up 21.6%. okay? when i got down here, it was up 16%. so some anxiety creeping into the market with 49 minutes left to trade. one of the most disappointing revelations in the january cpi report, as we just showed you, was housing. but today's selloff is hitting regional banks particularly hard: sofi is actually a bank/fin-tech, but we've got the ceo, anthony know toe, on how he sees the federal reserve moving after today's drop but also, you know, he had his eye very chosely on the bank crisis of --

closely on the bank skies of a year ago. yeah, the regional a bank crisis. we'll find out his crew -- view of what's going on really is. it's a perfect name to have today. intuit, pfizer, block, global payments while down about 3.8 right now, it's actually had a very nice 3 month, up 23%. "the claman countdown" is coming right back. you need to stay with us because, again, we're looking at the nasdaq down 367 points, that is a fresh low. ♪ ♪ he hits his mark —center stage—and is crushed by a baby grand piano. you're replacing me? customize and save with liberty bibberty. he doesn't even have a mustache. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ a force to be reckon with. no, not you saquon. hm? you! your business bank account with quickbooks money, now earns 5% apy.

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liz: the market selloff is swamping the transports. we wanted you to see those as well, this of course encompasses the airline, the choo-choos the

railroads, the truckers, etc., and and some of the car rental companies. avis, of course, we're going to tell you more about that in a minute, but it's down 22 percent. the transports down 3 or 513 points. -- 3%. one of the issues we're really focusing on because with it has caught our attention, almost every single name in the regional banking world is getting brought down in this selloff. the regional banks are all in the kre. in fact, 140 of the regionals, those names are all in what's called the kre, the s&p regional a banking index, which is down 5.5% at the moment so we're looking at all of this right now, and some of the worst performers, new york community bank, cma. so as we continue to watch all of this, western alliance, valley national, key corp., thompkins financial, which is obviously -- this is obviously something that's hurting the financials considering there will not be at least for sure not in march, but it's starting

to look a very thin chance of a rate cut in may at the moment. and so the market's spooked. dow is down 739. sofi is more of a fin-tech than a regional bank, and year over year it's still up about 23%. but it too the right now is getting dragged down by the market at this hour despite a very big headline, a dramatic new sports sponsorship. sofi today the agreeing to become the official banking sponsor of the national basketball association and will also be the official sponsor of the sofi mba play tournament in april. that's not all. sofi is entering a joint venture with celtics' all-star jason tatum to help first-time home buyers with their down payments. this is a passion project of jason tatum's because he grew up in a very difficult single mom household, and he'd like to help his community in st. louis afford home ownership for the first time. sofi ceo anthony noto is the man

who signed that a check, joins us live in a multifaceted deal. anthony, first, i do want to talk about all of your deals with the nba and jason, but can i just get your thought on this selloff today and why it's particularly hurting the regionals? kind of brings up bad memories of what happened a year ago. >> sure. thanks for if having us on, and we're very excited about the nba deal and building on the momentum we've had over the last six years and becoming a one-stop shop for your financial needs. more on that in a minute. to answer your question specifically, what i'd say is the market had priced in about six rate cuts. at a sofi when we gave our fourth quarter results as well as our 2024 outlook, we had a record year in 2023. over $2 billion of revenue growing quite meaningfully, over 35%. our first quarter -- profitability in the fourth quarter, but as we went into 2024, we felt like six rate cuts really didn't make a a lot of sense s. and if we did, in fact, it would likely mean we were in

a recession. and what we're seeing playing out now is it's unlikely we'll have six rate cuts which was priced in, and that's why you're seeing pressure on the financials more broadly. as rates go down, it does improve liquidity, it does help the financing planters. it does -- markets. and with higher rates, there's a risk that those deposits could leave banks and go into mutual funds, go into index funds, go into money market funds, go into cds. and you see a repressing of that. at sofi, we get a really high interest rate at 4.6, no fee, the ability to pay any way that you want. you pay a phone number via phone number, bill pay. we saw tremendous growth in deposits last year, over $2 billion of deposit growth each quarter throughout the year, and more than 90% of our deposits are from direct deposit

customers which are really sticky. those are two key elements of making sure that the you have the ability to be durable through environments with rates going higher or lower. liz: yeah. and obviously all that you offer was very attractive, enough for the nba to sign you guys as the official banking sponsor. what does that do for you, and is it the appropriate way of spending capital at sofi? obviously, you had the naming rights for sofi stadium in california. i'm guessing you can monetize that and show that it was worth the money and the time. [no audio] finish anthony? oh, you know what? i think he's frozen. all right, we're going to try and get him back. at the moment he said what we really do not see six interest rate cuts. the question is, is it even going to be three at this point? we are looking at the s&p 500 now at a session lows, and if you look at the intraday chart

of that, that's where it becomes kind of a rolling stone that is really starting to pick up speed. the nasdaq is also at session lows. i'm going to pull up my charts right here. we have got the s&p down let's call it 100 points at the moment, nearly 2%. the nasdaq down 380. you can see the big financials are following suit down there. we've got the nasdaq down 2.5. the russell, as a i pointed out at the top, the worst performer when you're looking at percentages, down 4.5%. i don't know if we can change the board to put up the market at the moment, but there we go. and we've got the dow down 746 points or 2%. i'm just going to pull up the laggards a on the nasdaq because that is a big drop there. and at the moment i am a looking at the biogen, and we've got marriott struggling here, town about a 6. my -- down about a 6%. micron technology down about of.25%. and so at this moment and,

unfortunately, we are unable to reestablish the connection with anthony noto. sorry about that, because they have a really good story with jason tatum and helping out with first-time mortgages. but we'll try and get him back with at a certain point. i showed you the transports earlier and how ugly they looked. there's one name in the green for the transports, and that is jetblue. jetblue is actually flying sky high today after a famous activist investor, let's say infamous if you are the ceo of jetblue, takes a major stake because with he says the stock is undervalued. who would that -- [laughter] activist investor be? he's a name that inspires shivers when ceos get the call from him. we're going to look at a the stock and the fact that it's moving so high and what that really means in just a moment. and we continue to watch this selloff very closely. we are going to consider blowing out some commercial breaks, folks, if this continues to worsen. but at the moment we are looking at volatility now up 28%.

i remind you at the top of the hour when we first started up just 16%. so you need to stay with us because we're watching a pretty significant selloff day. stay tuned. ♪ my stresses just melt away. i hear that. this bad boy can fix anything. yep, tough day at work, nice cruise will sort you right out. when i'm riding, i'm not even thinking about my painful cavity. well, you shouldn't ignore that. and every time i get stressed about having to pay my bills, i just hop on the bike, man. oh, come on, man, you got to pay your bills. you don't have to worry about anything when you're protected by america's number-one motorcycle insurer. well, you definitely do. those things aren't related, so... ah, yee! oh, that is a vibrating pain. after last month's massive solar flare

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liz: breaking news, as we continue to watch this selloff, we need you to look at a vizio. vizio is actually up 21%. it was halted just moments ago after "the wall street journal"

reported that walmart is in talks to buy the smart television manufacturer for more than $2 billion. walmart getting into the tv business. walmart has historically been vizio's largest customer, and vizio is the most purchased brand of tv at wal-mart stores. walmart's down just 1%, probably getting a pulldown with the rest of the broader market, but that is a big with move for advise owe, up 22. and keeping with what little green we can see on the screen here, shares of jetblue are flying high by 20.7%, on track for their highest chose since august of 2023, after activist investor, you guessed it, carl icahn buying a nearly 10% stake in the airline. the billionaire behind icahn enterprises owns 33.62 million shares now i and says this airline is undervalued and represented an attractive investment opportunity. so icahn has had talks with

jetblue regard rahing possible representation on its board of directors. he wants board members, he thinks he can shake out some added value for shareholders. hertz investors, world of hurt here as the car rental company is on pace to close are at a never before seen record low. right now hertz down 12.9% to $7.56. you can blame are its exit editor, avis budget group. so hertz didn't do anything. avis missed fourth quarter revenue expectations in its latest earnings report out yesterday after the bell, and it's avis that is really tanking here, down 23.5%. that's the biggest percentage decline since march of 2020 for avis. it did beat on profit estimates saying it saw improving demand, higher than average prices and and reduced costs last quarter. investors don't care. they're selling that stock. finish we should look at trip adviser, also looking to break a record but this time to the upside. shares up 13.25%. that would be trip's largest

percentage increase since august of 2022. investors buying on news that the online travel review and advice company has created a new committee to consider potential deal proposals. trip advisor says no transaction has been made and a possible deal would be subject to further checks and balances anding of course, approval from the board. but investors like the chatter. one company's ski gear so good at keeping the world warm on the slopes that it's testing itself technology by sending it to the moon. columbia sports we're's tim boyle on how the space race is helping him define the future of generation. about a year ago we look at the moonshot innovators' etf, well, it's down 7 right now but up 10.9% over just the last 3 months. "the claman if countdown" is

coming right back. check of the dow, down 712. the s&p off the lows of the session but still getting clocked, down 94 points. the nasdaq down 365. we are with coming right back. charlie gasparino's getting in the chair. we've got much more, don't move. ♪ ♪ ♪ we worked hard to build up the shop, save for college and our retirement. but we got there, thanks to our advisor and vanguard. now i see who all that hard work was for... it was always for you. seeing you carry on our legacy— i'm so proud. at vanguard, you're more than just an investor, you're an owner. setting up the future for the ones you love. that's the value of ownership. we're here with chris counahan of our local leaffilter. so chris, tell us how leaffilter is different from every other gutter protection on the market. with leaffilters, patented filter technology, there are no gaps, no openings,

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in collaboration with intuitive machines, columbia's thermal jacket innovation, the omni heat infinity, okay, wrap your mind around this, will be wrapped around an unmanned spacecraft. the nova c lunar if lander. and what it's going to do -- [laughter] it keeps people so warm on the ski slopes, it's going to protect the lander from the extreme freezing temperatures as it moves through space to become the first american mission to land on the moon in 350 years. 50 years. joining me now in a fox business exclusive, chairman, president and ceo tim boyle with. tim, wonderful to see you again on a very busy stock day. of course, you guys are publicly-traded, so everybody's getting -- to be felt by what's going on here. but let's talk about how this came about. your technology is so brilliant, it's now being used to wrap around this lunar if module? >> you know, it's interesting, we talk a lot in the company about nobody neegd another brand

with of footwear apparel. so we have to be different. and the way we differentiate ourselves is through innovation. and this inknow vegas we've been using for many, many years, about 10. but this is the latest generation of the product, the omni heat family, and it was really interesting that we use it for, you know, maintaining temperature, body temperature for consumers. but this is being used to protect products in space when there's nobody if else around to help them. so it's a relationship that we have with intuitive machines which we put together, oh, maybe three, four years ago, but we never really thought that it would get the kind of attraction that it's getting. and if this is going to be a fairly interesting and really important opportunity to study space and study the moon. and we're just thrilled to be a part of it. liz: oh, my gosh, listen, i knew

your mom, gert. we covered her extensively. she was a force of nature and innovation. it's so wonderful that you, her son -- who was part of all a her experiments back in the day to test the equipment -- is still running the company. congratulations on your innovation, tim. we've got a big,, busy market day today, but we're so glad we were able to get this story on. and the launch is slated for tomorrow. good luck. >> well, you know, it's terrific that -- the hardest part was pulling off value aren tine's day. [laughter] -- valentine's day. liz: yeah, that's right. every 14th, day of love. all right, see you then. good luck, we'll be watching. >> thanks. liz: tim boyle of columbia. all right, we should check the nasdaq laggards a right now. obviously, technology is one of the areas that is getting hit, but it's sort of in the muddling of the s&p sectors. so as we look at some of these names here, the lucid group -- that, of course, is the ev company, biogen, marriott,

ebay, ill illumina -- illumina all a struggling, and is it any surprise that some of the other names who have had a huge runup are also pulling back. i want to see if we can show arm, the chip company, the chip architecture company. a 3-day blistering rally has now come to an en. that a stock is down -- an end. that stock is down about a 19%. let's get to kelly o'grady in the newsroom. she's looking at arm a, nvidia, all of the other high flyers, kelly, that are fully back today. it's a normal move, isn't it? >> reporter: it is, liz. i mean, especially as we think about, okay, maybe the fed is not going to cut rates as many times as we expected this year, as the market was pricing in or perhaps even at all if you talk to certain investors. i mean, arm you mentioned down, i'm looking at this, 19.37% today. that got hit really hard. and so you think about what that means. arm, big chip maker, big fueler

of, what? if a.i. because when you have a market pullback, when you have uncertainty in the market, you start to see money georgia tate away -- gravitate away from tech stocks, from growth stocks. i mean, you saw across the magnificent seven all a of them were getting hit, nvidia, meta, microsoft. all of these companies that have made a.i. their big growth factor. so the fact that you see arm coming down not that surprising. one thing that i want to highlight, liz, i've been talking to investors throughout the day as people are digesting this inflation data and some are saying, okay, you're going to see a.i. pull back, but maybe you're going to see these companies instead do another round of layoffs because if they stop investing in a.i., that's not attractive to the street long term. back to you, liz. liz: kelly o'grady, thank you so much. they make the equipment that powers the cloud for major corporations across the nation, but could arista networks be a secret a.i. play, just what

kelly was talking about, as a it helps build out the country's artificial intelligence infrastructure? we're about to take it up with the ceo of arista networks in just a minute. the global x cloud computing etf, clou, has gained about 24 over the past year with. pulling back just a score today. on a -- scoch. on a day like this. and charlie gas prix e -- gas prix niece about to join us on the fed, fed if funds futures are spinning around wildly right now. we're going to show them to you when we come back. ♪ ♪ you got this. let's go. gobble gobble. i've seen bigger legs on a turkey! rude. who are you? i'm an investor in a fund that helps advance innovative

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liz: well,ing just one day after paramount-cbs announced a record-breaking 123.4 million people watched the kansas city chiefs beat the san francisco 49ers on sunday, pair or rah mount is laying off 800 employees. that turns out to be the about 3% of its work force as its largest shareholder finds that her effort the find a buyer is not working. in fact, the picture is worsening. charlie gasparino's here. >> you never want to say it's dead. i don't believe it's dead. but here's what my sources are telling me, and if you're following this as an average

investor out there, there's never been so much ink spilled on a deal that hasn't happened. and i've covered a lot of deals. and we've been talking about the bidding war for paramount now for months. she's been shopping it for several months -- liz: she is shari redstone -- >> the daughter of the former media mogul sumner redstone who created this media empire known as viacom-cbs, they were two, she merged it into one. and as a she did that, she basically merged it into, you know, one of maybe the biggest secular changes ever to hit lin linear broadcasting, and that's cord cutting. and it's hurting the assets, the value of them, and she's having a hard time selling it. here's what we know, is that she wants -- the way this thing works and, again, it's a little complicated, paramount has common stock out there. she controls it through the class a stock which is essentially her voting shares on a holding company known as national amusement. if you're following me here.

she wants to sell her stake in that so it gives an interested party access to the whole enchilada. she wants a significant premium for that. there are two essential bidders that are in there that we've talked about, byron allen, or the media mogul bull who's stepping up to the plate. we'll see if he's got the money. and also skydance, from ellison's son whose name -- liz: larry ellison, of course, of oracle. >> i believe it's david ellison, his son. now, if you notice, they've been interested now for weeks and weeks and weeks. why aren't they pulling the trigger? we understand that the stake that a lot of people value, and i was on this show and first to report around $2 billion for her a stake in national amusement, she a wants $4 billion for it. and the numbers, from what i understand, as of now are not working out. so be that as it may, this deal is stalled. and from what i understand, it's stalled in a way that you, that actually from what i hear is that people at national amuse

ifments tell me they're looking for other potential bidders. discovery is always out there potentially, david zaslav. liz: didn't byron al allen offer $28 a share? and that is extreme, and then he said that he had some financing but didn't articulate what it was. >> that's one of the problems, i think people are discounting whether he -- he says he has it. so take him at his word. but, you know, if he has it, where's the deal? where's the deal with skydance? i mean, what's -- larry ellison is worth how many gazillions of dollars? liz: yeah, but it's his kid, and does the dad really want to throw billions behind -- >> here, sonny if, here's 10 billion. he's got the money. so it's very strange. my guess -- what i'm hearing from my sources is she wants this, the bids are here, and it ain't happening at least not yet. and,ing by the way, the people that could buy it like comcast, you know, maybe doesn't want to

go through the regulatory stuff. david zaslav, he's got his own debt to hand a although he's good at the balance sheet. it would take some real slicing and dicing here to make it work. so that's where we are right now, impasse. cliz liz charlie, thank you very much. >> watch the announcement in five minutes, and then i'll be back on -- [laughter] liz: okay. we'll nine minutes to go before the close on a rough-and-tumble today. look at arista networks. as we look at the shares, the stock, important to note it has an incredible year for the increases for the stock but of course right now currently trading down 5.7%. the manufacturer of cloud computing gear gave a strong outlook for its fiscal year, not enough at the moment to push back on the tsunami of selling for the broader market. let's bring in in an effort to respond to investors reaction.

glad you're here. great numbers for the earnings picture. one of the analysts covering you basically said you would have to have a perfect, a near perfect earnings report and you kind of did yet the stock is selling off. what is the potential message you want investors to know about arista? >> thank you, liz, thank you for having me. i'm very proud of our 2023 highlights. if you look at arista networks we went public 10 years ago. we're celebrating our 10-year anniversary. we are here for the long term. we're the one of fastest growing companies ever in the history of networking. i don't focus on the quarter i focus on the long term. our investors know we have a long term future ahead of us with 10 billion of revenue. liz: we were talking about oracle a second ago, unrelated to any of the actual business. as we look at all the tech names, cisco, for example, in

the same business as you, routers, networking equipment, where does this, where is the real opportunity here especially at a time when everybody is chattering about a.i., you actually have a piece of your business in a.i. explain that so people understand why you're actually very much a part of it. >> absolutely, liz. for us a.i. doesn't just mean artificial intelligence. it means i'm all in on a.i. and have been now for quite sometime. arista pioneered the cloud network we have been doing for the last 10 years and if you look last year in 2023 this was 43% of our business. important customers like microsoft and meta and many more are really pioneering not only the front end of cloud networks but a.i. is the killer application for the back end to connect all of these gpus built by nvidia. it is very tech intensive. at a same time we're

diversifying our business. we have as speck that grew 50% year-over-year which is our enterprise business. the beauty of arista is the fact we have two halves, and both have a bright future. liz: it doesn't surprise me you have been able to pull this off. you have a bs in electrical engineering a masters in engineering management. as we look forward we'll be watching arista very closely. congratulations on the numbers. too bad it is not showing up at the moment. you're right, sometimes not better to look quarter to quarter to look longer term. good luck. >> thank you, liz. good to be here. liz: good to have you. six minutes away from the closing bell. this is morn to note the dow is off session lows as ugly as it looks, session lows were a loss of 757 point right now. not bad. we're down 595 points. still on the way to close down more than 1 1/2%. the nasdaq of course and the russell are the biggest percentage losers right now.

the nasdaq down 311 points. the russell down 4% or 84 points. a lot of this having to do with this concern that inflation gauge, the cpi came in hotter than exp means that there is probably not a chance, possibly even by may to have a rate cut. now wall street's fear gauge is completely freaking out, okay? it is the biggest gain in 11 months right here. the vix skyrocketing 16%. a knew minuting a it was rocketing 21%. it is slightly calming down. investors out of treasurys inverse to the price, topping 4.3% for the 10-year yield for the first time since december 1st. let me get that for you, the exact yield at the moment for the 10-year is, as it is updating we have got it at 4.314%. the two-year which best sort of

follows the federal reserve's policy, is at 4.649. our countydown "countdown" closer says go further out on the curve. brandywine 6 billion in assets under management, jack mcintyre. jack, which part of yield curve and what do you make of this move today? >> liz, i want yields go back up a little bit more, go out the 10-year part of the curve. what we had is a battle going on between market expectations, remember about a month ago they priced in six rate cuts. meanwhile the fed said hey we'll only go three times. that will be a little bit of a battle we'll see for a while now. as you point out cpi is the sort of the third data point coming in better than expected. it kind of spooked the markets a little bit here. liz: are you concerned at all, that as we look at the longer end of the yield curve, that the

shorter end, somehow investors who were piling into t-bills, anything one month to 12 months, might get caught flat footed in any way? can you articulate the possibility of that? >> yeah, that is learnly a possibility. again you hold those bonds to maturity, you are going to ride out this volatility. i think there is probably, definitely there is more urn certainty priced into bonds than the complacency in the equity markets. i actually think they're late. but park your money into the front end of the treasury curve, yeah you will forgo a chance of earning more return but at least it is going to be safe. you know it is kind of if that cash bucket which is not a bad place to be parked. yields we want to move higher, treasurys look compelling back out on the curve. liz: what do you make of corporate bonds? looking at hyg down under 1%.

year-over-year it is flat to up 3%? >> yeah i was just telling somebody you have got to be careful being in fixed income, being in credit and expecting that to be a hedge against your equity portfolio because they're going to be correlated right now. yeah you pick up a little additional yield being in credit. i get it. companies are actually in pretty good shape so i'm not looking for a wave of defaults but if this is a start of more meaningful correction in equities you could see some credit spreads widen out a little bit which again why i like, if you own equities have an offset owning treasurys. liz: i think that's fair. can i ask you to dip your mind into equities at the moment? is there anything here that is really starting to look attractive? in the grand scheme of things a 2, 3, 4% pullback is not a correction which would be 10%. >> i think it is a little too early. i view this as a little bit of complacency. we'll trying to figure out a

hard landing to get inflation lower, a soft landing or no landing and maybe that no landing scenario gets more traction? remember a no landing postpones recession. fed will not be quite as aggressive cutting rates. i think equities need to cut a little bit lower before i start dipping my to back into them. liz: jack mcintyre, great to have you in the chair, we really appreciate it especially on a day like this. as we watch the market close, we're off the session lows. tomorrow, the stars are here, delta air lines ceo ed bastian will join us. lyft ceo, david rischer. you can't miss either of those interviews. [closing bell rings] we're watching every tick of the markets. that will do it for the "the claman countdown" on a red day. "kudlow" is next. larry: welcome to "kudlow," i'm larry kudlow. so inflation came in a lot hotter than wall street ex