thinking it'll go back to 2001? come on. the number of people who are bearing that cost, that number keeps marching higher and higher and higher and rents -- as far as rent coming down, the only thing that really happens is that occasionally there's more capacity and outer layers of less desirable locations and further away from the action, here's the reality, i don't think rents will come down as long as wall street is bidding on houses and we're pumping in a lot of money to the economy and doesn't need it and and designed to make it wealthier and wealthier and top 1% and political donors and that's ruining it for everyone, folks. i don't want people to give up on the mace ick fundamentals and ethnicity thoughs of america and eventually you want to own your own home. liz claman. liz: don't you love the people, wealth yes people that are complaining my kids can't afford a house and yet, the minute

somebody wants to build more housing near them, no, no, no. i'm going to fight that. we need more housing. we need more inventory. it's ridiculous. charles: that's that nimby. liz: no, banana. build nothing near me. bulls are calling it trotting along as we kick off the final hour of trade. dow up 55 points and s&p up 29 and nasdaq gaining 135 points but not exactly the rip roaring bounce investors wanted to see after yesterday's dive. that began right at the opening bell and worsened throughout the day and dow erased half of this year's point gains and s&p 50 and nasdaq closed out their worst session since january. the selloff was triggered by that hotter than expected consumer inflation report. dow down more than 700 points.

after taking biggest percentage hit yesterday, russell small a 7:00 o'clocks and mid caps enjoying the largest percentage gain compared to other majors up about two and a third percent and that does not erase the 4% smack down the russell took yesterday but does it signal the upside. if you want to see the rip roading jumped and ride sharing in the pink and shares skyrocketing and 34%, it's a 52-week high and lyft released earnings after the bell and by by the way, included an extra zero in one of the metrics on accident. shares initially soared 60% and then, you know, the company clarified the error pretty soon after and you can see that, look, a big portion of that pop is still holding was it human error and waiting to find out the exact issue there and how

much faster can the stock zoom in the coming quarter? ceo david risher of lyft about to join us live in the crucial hour interview cpi ed bastion waiting in the wings and what he sent to every single employee and chocolate brown and red hearts and green is money. talking to ed about that and more about the travel industry right now. what's red, apple shares. bit of a blood loss and mark zuckerberg took a swipe at apple chief tim cook's new baby and mixed reality headset. what zuck said and whether the pullback is a buying opportunity and was this is jump shark moment there? joining me now, ubc senior

portfolio manager and chief strategist steve sauznick. jason, what should investors interpret from the move today to what stocks saw yesterday? >> trees don't grow to the sky. we've had 14 out of 15 weeks of the market going up and up and up. listen, there's an economy where we're growing at probably 3%. unemployment sub4%. earnings this quarter is 80% and beat expectations and there's still a disproportionate amount of cash on the sidelines. we're going to digest the gains and pulled forward so much and hit our year-end targets in the first month and a half. talk about what you intermented yesterday. liz: is that a bicycle or a watchout for work? >> trees don't grow to the sky.

we had weaponnized fomo. going into the end of last year and persisted into this year and fomo was no substance abusal manager want as benchmark -- institutional benchmark and there's a reminder that, iowa, wait a minute, we're not getting six rate cuts and fed told us three. we're likely to get 3-4. we don't want six rate cuts because we have a good economy. the market gets enthusiastic to the upside and the downside. liz: what do i know. jason, a valentine's for the market and earnings looked pretty darn good. >> yeah, the vast majority of the companies are beating and doing more with less. 23 you're an investor today, you

can to take inventory of what took us to the party may not take us home. just because those mag 7 count for a 50% of s&p, we don't have to nosoly see them catch down for the rest of the market to catch up. look to other parts of the market to make money in the latter part of the year. liz: which parts are you watching? >> small caps. good things come in small packages. 55% some odd discount relative to the large cap and earnings growth nearly double that of the s&p. plus accident when rates come down, one tenth of the small companies borrow. liz: year-to-date and year over year the russell lagged; right, steve? there's more upside room here. talk a bit about the magnificent seven and i was on the faulkner

focus with harris faulkner and said when are we going to see other stocks beyond the seven. let's talk alaska the seven first. original seven. people saying tesla should be booted before that. >> three days before earning ands people saying what are you saying? the many mentum is building and proproposed in october a bit because tesla is a different animal at this point. faith in tesla remains among the faithful but definitely been ebbing in terms of performance. elon musk is a visionary and somewhat unfocused ceo. liz: who do you replace him with? >> i don't know. a more mo turnover margined elon musk if i'm a tesla -- a more focused elon musk if i'm a tesla investor. liz: cupid's arrow. pointing beyond the small caps, jason, people can jumped nap and not be paying we're looking at

delta and we have ed bastian coming and you happen peo is 6. that's cheap. >> something didn't compute. we saw disparities between growth and value was the year 2000 and 1980. had you invested in value then, you'd have made a lot of money. similar to discount between large and small and growth and value and 30 some odd% of value. there's a lot of runway here. liz: yeah, we can't ignore the big names still. metas of the world. of course the big story today was on instagram, mark zuckerberg, ceo of meta decided to -- meta decided to take a swipe at apple's vision pro headset. forget the fact that our quest headset is a seventh of the

price but tim cook was on vanity fair. if you look at, i guess year over year, meta is up 156% and apple is up 20%. which would you buy, steve? >> well, do you want growth or value? what is zuckerberg supposed to say? can't say anything good about apple but apple can concede that to meta. we've spoken before and i said app 18 a value stock impersonating a growth stock with the valuation. i think meta has gotten ahead of itself and app 18 much more stable in terms of cash flow. they charge me every month for stuff. but their growth rates in terms of revenues and earnings are really not particularly exciting. so i think neither is a great buy but both need to pullback and app 18 a safer choice but meta is the more exciting choice. liz: jason, buffet, largest shareholder of apple, berk berke

athletics director hathaway, what do you think? >> for better or worse and they're stuck. unless it's tax deferred accounts, they can't get out of the stocks. liz: they've made too much. >> correct. but at the same time ai is giving them a shot in the arm and earnings will grow into their valuations but i submit to you that the upside and those constituents don't represent the same upside in the rest of the market. liz: that's a perfect way of putting because i think there's other opportunities out there. it's good to see you both. steve, jason, happy valentine's day, gentlemen. >> happy valentine's day. liz: big kisses all around. investors showing tons of love for lip shares today and no love lost this valentine's day between drivers of lyft, uber, door dash and their companies. the drivers striking today for better pay and working conditions. up next, the ceo of lyft is here to tell us what he's going to do

about the demands of his gig economy workers. both lyft and uber have spots in the sofi be your own boss etf and tick eric byob and gained about 23% over the just the last 90 days. again, ceo of lyft up next and yes, the stock is skyrocketing right now. claman countdown is coming right back on this love day. ♪ ya know, if you were cashbacking you could earn on everything with just one card. chase freedom unlimited. so, if you're off the racking... ...or crab cracking, you're cashbacking. cashback on flapjacks, baby backs, or tacos at the taco shack. nah, i'm working on my six pack. switch to a king suite- or book a silent retreat. silent retreat? hold up - yeeerp? i can't talk right now, i'm at a silent retreat. cashback on everything you buy with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours.

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liz: we've got fox business alert video just in from rallies at newark airport and chicago o'hare international airport where uber, lyft, and door dash drivers are striking. rallies were also held in philadelphia, pittsburgh, three

in florida, miami, orlando and tampa, hartford, connecticut connecticut, austin, texas; and providence, rhode island. drivers and couriers rejecting all rides to and from the airport in that city. the protests appear not to be affected lyft's stock, which is gaining 34% right now. about 45 minutes left to trade. set for record gains after the ride share released the quarterly reports beat on the top line and met expect taces. we'll get tolt ex-vascularized zero mistake in a moment but first -- to this extra zero mistake in a moment. fifth to david risher. i want to get your ken polcari stair on the strikes -- ken polcari tear on the strikes and they're -- commentary on the strikes and workers say they're tired of working 80 hour as week to make ends meet. do you understand their complaint? >> i do. we've responded in a very direct way. the strike haves been

planned for weeks, maybe months but just last week, we had a new release that drivers will make guaranteed 70% of what riders make. you mention that had drivers are looking for more transparency. so we not only guarantee that 70%, we also give them weekly summary that shows exactly what riders paid you and you took home and what lyft took home. we think as you mentioned, it's lyft, uber, and door dash as well. maybe you canner and door dash has their own strategy and focused on making it a great obsession with drivers. liz: you make weekly begans too drivers get 70% after the exogenous fees and why isn't that enough to avert them from striking? >> it's been in the bobs for a

long time. >> this has been brew and another piece of work and you'll find interesting and viewers too. we published a piece last week that shows on average arranges are broad, maintenance, depressionuation and cleaning -- depreciation and drivers are on the clock and making about $23 an hour. they have flexibility. it's not the perfect job for every single person, but for a lot of people, remember, there's over a million drivers on the platform, it's a good way to bridge between two jobs or supplement or save between things. it's part human nature to ask and planned for a while and we think we're doing a good job and

trying. liz: shadowing your earnings repreports and showed a narrower than expected bottom line profit and that's great and revenue, good picture and look at last 23 hours and extra zero. there was an extra zero placed where you said adjusted margins as percentage of bookings could expand 500 basis points when it was actually 50. you correct second-degree quickly and said that's on me. that's great you as the top guy steps up. i know, david, you didn't write that release. my question is have you figured out what happened and was it an artificial intelligence ghost in the 45 sheen or human ere -- machine or human error? >> first of all, it is on me and, yes, we have looked into it. in fact first thing this morning we had a group get together led by our own internal team and a lot of people working really,

really hard to do great work and this slipped through the cracks. all i can say is we're very focused on making sure it doesn't happen again of course but we're taking super seriously the fact that it did happen and we're really focused on it. liz: the problem is when people trade and spike 60% in the after market and heard from the regulators and sec in the wake of this? >> you know, i won't comment on that because when you talk about regulators they have their own path, but we actually think we've done as good a job as can be done given the fact it was a mistake. it was a mistake. we corrected it as quickly as possible. luckily it was in forward looking guidance, it was one of many, many things but anyway, it's something that we're taking super seriously. liz: listen, i g it, we make mistaked and try to correct them as soon as possible and we ask because web bush dan ives saying there'll be probably shareholder lawsuits. are you prepared for that? >> you know, i don't know whether there will be or not.

after hours trading has its own rules but i'm not the expert. we know that's what happens is a number gets picked up by ai and all the sudden machine learning takes over. anyway, we'll see how it goes. we're very focused on having it not happen again, that's for sure. liz: we're focused tooen oturu fact you got record number of rides, gross bookings in 2023 and up $13.8 billion. you'll be cash flow positive this year. does that lead to profitability next year in >> i won't say exactly when but we're focused on profitability. you set it up nicely and i appreciate it. the reason we've had such a strong financial quarter, best in company history is because we're so focused on riders and drivers. we're really customer obstructing cerumen cespedessed and the whole -- obsessed and the whole thesis is customer obsession drives profitable growth. do women+ connect and guarantee airport pickup and earnings guarantees and user would allow people to say, you know what,

i'm not satisfied with my other option. i want to take a lyft. that's what we want that and drives volume and profitability. liz: you're going into your second year. you're welcome done with your very first year at the company. what's the focus for the second year beyond again inching toward and the have anything to do with driverless cars because wages are a huge money suck. >> not so much driverless in the near term. around customer obsession again and it's a durable thing and something i learned from jeff bezos working for him for many years. bet on things that don't change. bet on things that are really durable. people like to get out and about. we were talking before we got on here about how events are going through the roof, and we've seen that. events up 35% and traffic to events and everything from taylor swift to beyonce and pick your favorite artist. we focus on that and airports and travel and people are out and about traveling again.

exhume we can make people's lives better these ways every single day. drivers and paying out $8 billion+ a year to drivers and huge part of the economy and way for people to make money. we're very confident as we focus on riders and drivers focusing on profitable growth and some day hitting the big golden -- what the right metaphor is but hit that profitability target as well. liz: grab the platinum ring. forget the brass. >> there we go. liz: the brass ring is worthless. finally, we have ed basti a, n, ceo of delta coming up. did you notice a marked increase in rides to the airport and that's some type of indicator and a way to look through different prism at travel and the increases in it. >> we absolutely did. i'm not sure this is exactly right but rodly speaking we had

more travel in q4, travel rides and travel rides to airport than we've seen before. we have online pickup promise and pays you $100 if we miss the window. we only remediated 2% of the time. it was nothing. it was great to operate that way and great seeing people getting out and about and partnering with delta. if you're a delta airlines sky medallion member, i'll give them a plug, you get point when is you travel on lyft. it's a great partnership much partnership. glad you're speaking to them. liz: i'll tell ed you said hello. gains of 34.7%. that's a 52-week high. david, we look forward to having you on again as you progress towards cash flow positive and eventually profitability. we hope you'll come back. >> appreciate t liz. thanks so much, real pleasure. say hi to delta. liz: i will. first, we have to talk about

sticker shock. it's nothing to love this valentine's day. a dozen roses and a box of chocolates will cost you a pretty penny. and again, why do they call it a pretty penny? it's an ugly penny if costing you a pretty penny. headed out to 90--year-old chocolate shop in the heart of new york city to find out how high inflation is raising the blood pressure of those looking for gifts for their sweet heart. who's got the best ticker symbol for valentine's day? got to be love sack. ticker love. modern furniture company that became a darling during the pandemic because everybody wanted cozy furniture. it's up about 54% over just the last three months. we're coming right back with much more. look at dow up triple digits, 102 points. ♪ (luke) this will be a gold mine of local intel. just you wait. (marci) right. so, tell us about this corn festival? (stylist 1) oooh you got your corn pudding... you got your corn chowder...

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liz: money is going down the grain drain and national retail federation expects consumers to spend $25.8 billion on loved ones today and slightly less than last year's 25.9 billion and high prices are play ago big role in that and inflation as a whole is trending down over the past year and the price of my favorite valentine's day gift, chocolate and roses,

skyrocketing. but chocolate look at, oh my. cocoa is up a whopping 128% over just the last year and companies from cadbury and hershey warning about hiking prices even more. kelly o'grady is live right now at a 90-year-old chocolate shop in new york city. kelly, what are they charge and willing have they had to raise their prices as well? reporter: they have, liz. they've infact raised them roughly 12%. that's a lot less than the owner's cost have risen but it's not stopped folks from rushing in all day. we've got the place packed and been like this all morning. now, liz, i'm also a chocolate girl, i highly recommend coming here in queens, but we are not alone. look at numbers. chock lots going to be a big, big category this year. 57% of shoppers say they're going to buy chocolate or candy

and shoppers intend to spend big on significant others. $14.2 billion is expected and if we hit that, that'll be a record. we've seen this in action all day. this whole area here used to be packed, packed, packed. you can see, we've got empty space down there. by the way, these chocolates aren't cheap. people are clam moraying for them -- clambering for them and this is $115. what's driving the prices, chocolate, another is packaging. needs to look good if you give to your honey. that's increased for them here and labor, minimum wage increased and rachel to talk about all that with us. you've raised prices 12%. if you pass them all on to the consumers, how much would you have had to raise prices?

>> close to 20%. reporter: you're eating that and talking about some of the sales trends and how are you seeing that impact customer foot traffic? >> right, absolutely. again, valentine's day is one of those holidays you have to buy for your hon if you want to go home and sleep in your bed. and we're still seeing record numbers in terms of how many people are walking through our door. we're literally still getting valentine's day orders today. eric don't know what they're expecting ordering on valentine's day. i don't think it'll get there in time, we're seeing record numbers and the average ticket is going down a bit. but, you know, we're still seeing incredible sales. reporter: thank you, rachel. liz, the take away for me is seeing with the winter holidays and batches and going for them and chocolate going back to the line and shots. liz: we need to taste test. we got you.

thank you, kelly. >> we'll do that tomorrow. liz: secret offices, perfect. sending the love this valentine's day for investors. to the blue chips and bigger pop earlier today and intraday picture and when it goes about 14 p points and dipped into the red a couple of times here and now some buyers on the dip back in action. the dow is up about 100 points after declining 1.4% yesterday. there is love all for robinhood, which is on pace for largest percentage increase since november of 2022. the investing platform reported a top and bottom line beat and highest earnings ever as public company and net income coming about $30 million and company said it attracted a net 1.3 billion of account transfers trust worthy other brokers and

added roughly 100,000 accounts to the new retirement offerings. the stock is up 13% right now. mgm resorts near the bottom of the s&p 500 right now on pace for the largest decrease since november of 2022. fourth quarter earnings beat estimates and revenue with stocks down and revenue from mgm china and mccow big business increased six fold and regional and higher union wage arules weighed on earnings. air b and b was coming out yesterday and they did and investors checking out and vacation property rental and tough first quarter comps compared to the previous year and airbnb expects current growth rate of nights and experience book to moderate to the tune of 12% from the fourth quarter. revenue with the company did grow 17% to 2.2 billion and

airbnb announced 6 billion share buy back and stock off the lows of the session but right now still down about 1.5%. but question, is airbnb telling us the era of revenge travel is over? we have ceo of delta airlines for that question. ed bastian joining us to talk about bookings, boeing buys and the payouts they paid today. when we say big, it's a lot. checking u.s. global etf and ticker jets and delta with southwest among the holdings up about 27% over the past three months. claman countdown is coming right back. ♪

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increases, alaska airlines flight attendants voted to authorize a potential strike. this is a common tactic sometimes used by unions to get the company to cough up more cash and stop a strike. the stock not getting hurt right now, up about 2%. if one thing talks for employees, it's money. and today delta airlines announced it has paid its 100,000 employees $1.4 in profit sharing. that works out to about five weeks of pay per employee. the stock right now is at highs of the session up 2.5%. the company said the profit sharing comes as a reward to employees for their hard work in challenging year. let's hear more about this valentine's gift to delta employees. joining me live is the ceo ed bastian. ed, this is great news for employees. when did you start formulating

this payout? >>ly, liz. good to be with you. this is something we've done at delta for close to 20 years and dates back to our era when we went through a difficult time following 9/11. we went through a bankruptcy and we promised all the employees they'd receive the first fruits of any returns as we started to get the company back on track, and equates to effectively 15% of the overall profits of the company going to our employees. doesn't go to management, just goes to all the employees, front line employees worldwide. $1.4 billion we distributed today, over the last decade plus that number is over $11 billion that we've provided our people. liz: did you get showered -- >> it's been a wonderful day of celebration. i've been to at least ten different parties and concerts and you can appreciate, it's a great day to be a delta and fly delta. i want to thank all our customers that make it happen for our people. liz: did you get showered with

resume from other airline workers and probably really like this concept. was it also in a way, i mean, especially when you look through the prism of, say, what happened at alaska airlines today where for the first time in 50 years, they've done this sort of threat to strike kind of thing. is it almost a defensive play as well to employees -- nothing makes them back away from being upset than actual money. >> the number one thing in our business at delta is taking care of our people. it's the most important thing we do. the better job that we do including sharing in the rewards and success that the horde work generates, it's just a full circle. they take better care of our customers that share their loyalty with us and just grows and deepens. our people today are the best paid across every category of employee. in the industry including flight attendants and people get raises every single year. we have been doing it year in and year out. we look forward to topping that up with the great profit sharing

panel. liz: let's get to what costs a lot of money and that's the planes and money you expend on buying brand new planes. i remember, god, it was about thee or four years ago where you did not own any max jets made by boeing and then in 2022 you put in an order for about 100 max 10 jets. obviously because of what we've seen happen with the max jet, alaska ire lines, door plug being blown out midair and they've really slowed down their process to ensure hopefully that the safety checks are all in place. do you regret purchasing so many jets because now you're waiting much longer than you expected to get those deliveries? >> when we placed the order if the the max, again, we don't operate any max today as i speak. we knew it would take time to certify the max 10, it's their latest stretch version, last

stretch version of the max probably. we placed an order to start sometime in '25 and realistically it'll probably push back out of that. we have a great partner in air bus and love taking the 321s and we continue to deliver them and it's a very serious issue that boeing is facing and we stand by them and we look forward to the opportunity to take the plane when it's ready. liz: so there's no regret? you're not pulling the plug and saying let's go all air bus? >> no, we're too big an airline. we have a thousand planes, liz, and we need a strong air bus, we need a strong boeing to supply us. we only have two basic manufacturers that we can source planes from. liz: yeah, it's a due opportunistically. it's -- duopoly and expensive business. you pulled back your forecast for 2024 and looking at earnings $6-$7 a share and down from earlier prediction of about $7. what's the issue there?

what do you think is causing the slow down? what do you see on the ground? >> well, the start of the year we just ped to be a little brew dent and there's a lot of geopolitical concerns out there. we knew fuel prices were starting to rise again particularly the crack spreads and importantly the supply chain and maintenance costs are still higher for all of us than we've ever seen. in light of some cautious prudence, we decided to edge down the forecast. i still hope that we get to seven and even greater than $7 a share as i told our investors but right now i know i can deliver somewhere between $6 and $7 a share, which would be a nice bump from what we delivered this past year in '23. liz: i have one more question and mostly from the flier side, consumer side. you know, it's not you guys, just you guys. it's all of the airlines. when a consumer goes on an airline website and check a flight but they don't book it and they get interrupted by something or they want to wait

and check dates. they come back and immediately the price has gone higher. now, is that alga rhythmic and how is that consumer friendly because it's very frustrating for a lot of consumers and if you could fix that part of it, who knows how high you could fly. >> e ya, our prices are dynamic. they move, they do move by the day, by the way they move down as well as move up oftentimes. we do our best, anyone contacting the reservation center to try and hold a price for somebody while they look and get back to us, but it's a -- there's a lot of demand out there in the marketplace for travel. i think the demand this year is going to be even stronger in 2024 than what've seen in '2 and as a result, i encourage people when they're ready to go ahead and book with us. by the way, we've eliminated change fees on the airlines so if there has to be a change, you'll get full credit back. liz: that i like. ed, good to see you. please come back again.

we're watching it as we always do and barron's named you guys as such a good value play considering the price to earnings ratio is about 6 and the stock is moving up 2%. we'll continue to watch. thank you very much. >> thank you, liz. good talking to you. liz: good to see you. bitcoin market cap once again surpassing the $1 trillion mark after the approval of the spot coin, spot bitcoin etfs continue to drive the rally in the largest crypto by market value. we've been talking about whether either might be next to get etf nod from sec. we just inched closer to that, at least from the news charlie gasparino is about to break so stay tuned. as we look at dow 30, they are in the green mostly and we do have salesforce at the very top of the heat map. crm up 2-point #% followed by -- 2.8% followed by intel and nike,

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$51,000. bearing down on 52. ethereum is seeing the laggest percentage gain, five 1/3%. the token has jumped 16% since the spot bitcoin etfs approved by the securities & exchange commission. as bitcoin confidence soars word is that gary gensler will not be so accepting of the spot ethereum. charlie, what are you hearing? >> this is a fascinating story. this is captivating wall street. a lot of wall street firms want to push a ethereum etf. ellie, my producer came back from a conference on etfs. all they talked about was the ethereum etf. people really believe, that gensler will approve this people at the conference, will approve

it, he is looking to centralize the decentralize crypto market. that is what they're saying. hear is what i'm saying about people close to gensler on wall street, he is more skeptical about this one. i'm not saying it is zero or he will not approve this, liz but i'm saying gary gensler right now approving the ethereum etf is best described as a wild card. this is unknown territory. he has given both positive and negative sort of reviews on ethereum, whether it is an unregistered security or not. if it is an unregistered security then it is out there illegally and then that means it can't be an etf. bitcoin he was always pretty clear, that is not an unregistered security. it doesn't have to go before the full sec to get approved. that it is essentially a commodity, a currency. he hasn't done that with the ethereum etf and the other thing is, there was a lot of institutional backing of

bitcoin. it's been around longer. the most well-known. ethereum, while the people that dot etherium on the blockchain do some, from what i understand radical and inventtive stuff, the coin is still not as mainstream as bitcoin. put that together, people really in the know, you're saying this is jump ball. if you're in crypto industry, crypto industry is always giddy. that is why bitcoin and etherium are up so much, based on this sort of giddiness, or irrational exuberance that sec will approve the ethereum etf. people dealing with the sec this is much tougher lift than bitcoin from what i'm hearing. if you're betting on this thing be careful. because this could go either way. there are key dates, may there has to be feedback from the sec on all the applications. as you know blackrock is in

there. larry fink i think larry fink gave the push to the bitcoin, got it over the finish line. he might be able to do so here but again this is different ballgame. etherium, bitcoin, two different coins, two different institutional sort of support levels and just, and gary gensler has been just sort of non-committal on etf whether it is legal or not. pay attention to this if you trade bitcoin this is one of the big things you're trading on, trading any crypto. this is a big thing but i would be real careful, liz, back to you. liz: okay, being careful. we shall take your advice, charlie gasparino, thank you very much. well just as the stock market at this very point yesterday was tanking, the u.s. dollar was charging to a fresh three-month high against the pound in the united kingdom, the euro, and the chinese yuan. the euro is down about one and, let's see 2.8% so far this year

and you can see the pound is down 1 1/3%, chinese yuan is down 1.25% against the greenback. guess what? if you look how the u.s. dollar affects equities that can be a good deal especially as the greenback strengthens. joining us somebody who looks at it all the time, bob custer with, 4.7 billion in assets under advisement. wolfgang, the greenback is taking a pause, no big deal but the gains are expected to continue and it is pretty clear people are looking at the inflationary strength we saw yesterday as dollar positive. what does that mean for equities? explain that relationship if you could and which names would be best poised to gain from that and which ones can be hurt by it? >> absolutely. when you have currencies going down and companies that get revenue in those countries and don't have the offsetting

expenses which you hope they don't because they have good margins actually lose on that. instead of $100 from the euro, they only get $95 from the euro if they sell a pair of jeans, whatever it is. it hurts them. companies that manage these very well, some are not. i don't mean to beat up on apple, because earlier in your show, you talked talked aboutapi have too say, you and i talked about this before has not a good job managing that risk. you have to ask yourself don't manage that currency and that risk well which other onesdon't? you have mercks of the world not as good as pfizers managing it. [closing bell rings] if the revenues go down you're not doing well. liz: wolfgang custer. thanks for that perspective. we'll see you tomorrow. thanks for joining us. ♪. larry: hello, folks, welcome t