but they always circle the wagons. for instance, today we saw a spike in folks who were expecting to lose money next month. next month. this is real stuff. this is not a theory. americans really are bracing for bad things. you saw it today. income if up 1%, spending was not up 1%. it's really tough, right? and here's the the real problem, right, a lot of people are hiding right now, at this moment, from the repo men. so the statistics are one thing. disposable income is not getting where it used to get, and if you start to add it all up, the weight of the wealthy always makes it look like it's ridiculous. so i say it's time to end this thing. it's a farce. i think the most important thing we need to understand is that all of americans cannot be covered in one data point. keep that in mind. right, his? if. liz: yeah. oh, no. we are a united states but all different. repo man, i remember emilio

estevez in that movie. charles: just hope you never have to meet 'em in real life, they're rough. liz: charles, thank you very much. folks, we've got a special edition of "the claman if countdown" due to multiple plates in the air that are scheduled to start spinning in the next couple of minutes. we've got stocks right now mixed at the moment. the dow is down 14, s&p up 16. it just needs a gain of 19 to hit a new record. nasdaq up 92. and we are conning to watch this mixed picture, but mostly higher due to the benign inflation read. the 2-year yield has been falling in response. we've got it down 1.6 basis e points, off the lows of the session. but, look, does anything about that january pce inflation report change? blackrock's bond guru rick reider's timing of the federal reserve's first interest rate cut? rick is coming up in just a moment the tell you. in the meantime, bitcoin very quickly here continues it epic climb. coming up in this hour, the ceo

of bitcoin miner marathon digital is here on why he's selling a chunk of the bitcoins marathon excavates. we are moments away, here come the spinning plates, from the start of an epic if hoedown at the southern border -- showdown. president joe biden and former 3r9 donald trump have both landed on the ground in texas. president biden minutes away from from getting a briefing at the border while president trump is moving from the del rio international airport on his way to shelby park in eagle pass. eagle pass, of course, one of the ground zero areas of the fiery border debate, border security that is fast becoming one of the top issues for voters. we have this breaking news related to that. in the last 24 hours, chinese nationals have been arrested for trying to sneak across the borders of both and maine. as we await these dueling appearances of the leading presidential candidates, make no mistake, this is both a major political and business story.

so in this hour, we are going to follow every step of it along with minute-by-minute market reaction. two members of congress, democrat and republican, no doubt watching with keen interest here. let's take you live to capitol hill where we will begin with new york congresswoman claudia tenney of new york. she is a member of the northern border caucus. congresswoman, as biden and trump are south now, they are on the border, at least close to it at the moment -- biden to brownsville, trump to eagle pass how important securing the border has become for the voters. what would you say is propelling the growing urgency americans feel about this? >> well, americans are seeing even local media starting to cover these issues, especially in northern new york which i have all of the northern border of new york pretty much, especially all of lake on tower owe. and we're seeing, and i've held numerous round tables across the entire division -- my huge district which is a massive district with customs and border patrol, i.c.e., local police,

state police, everyone, and they're all telling us that it's new york's criminal justice laws that were changed that are assisting in helping illegal migrants to get across the border and to be able to go anywhere in the united states. they get issued a driver's license. we've eliminated the detainer law. even mayor adams is fighting this. i do think it's note if bl that president biden is going to a place on the border that has relatively little activity and former president trump is going to the area where we have of most concern. the border crossings have reached a record high. people are starting to notice, and this murder or in georgia along with another murder in new york and numerous rape cases that have occurred are really getting people's attention, and that's why there's such a focus on it. liz: the murder in new york of the young nursing student who was killed by a venezuelan immigrant who came across illegally. overnight, you mentioned the northern border, up in maine three chinese nationals trying to cross in from canada pretty much under the cover of darkness. i believe we have one or two

photos here, were caught by border patrol. do you happen to know yet if the st.s are on any terror watchists? -- lists? if i'm not saying they would be, but this has been front and center for you, looking at the terror watch lists and watching some of these individuals try and come in through the northern border. >> yes. well, liz, one of the statistics that came out last fall was that 85% of if people on the terror watch list are coming across our northern border because so much, so many resources and so many cuts.coms -- customs and border agents have been sent the deal with the crisis at the southern border. so that has left us vulnerable in the north, and that's why we're seeing dangerous people coming across. they get to new york, the cartels if they're human trafficked or people intending to do harm, they get across the border, they get a license. they get present protected under new york's green light law passed by governor cuomo and maintained by governor hochul, and they can go anywhere in the country can, and a lot of them

go to new york city and places where they can cause harm. and then the detainer law that i was speaking of earlier, that detain ther law which was changed -- detainer law which was changed allowed and made the new york city police to get this venezuelan criminal off to go down to georgia to commit a murder against this innocent student in georgia. so these laws in new york are directly causing murders, rapes and other dangerous crimes, and people are seeing these illegal immigrants on their trail cam cans up in my district. so it is getting alarming. liz: yeah. oh -- cannot getting, we're definitely there. >> it is alarming. liz: and for law-abiding citizens, this is really becoming a very, very important issue. congresswoman, the senate bill that was passed, the border bill, you know, there's things in there that look really rational. the number of border patrol agents stagnant over four years, this bumps those numbers up. the bipartisan bill would add

more than 1500 new customs and border patrol agents. that's just one of the increases in bodies or that are able to at least go and secure these borders. why not vote for that? what is holding up republicans on agreeing on that in the house? if. >> right. well, liz, that's an excellent point because that is a good, one good provision of that bill. but the two things that are cited the most by every single member of border police, every single i.c.e. member, everyone in the police, we have got to reinstate remain in mexico, and we've got to stop catch and release. those are the two things that are most critical that we need to do, and those don't involve adding on -- we should add, definitely, border patrol and resources for that. why can't we do the border patrol resources, remain in mexico, end catch and release and add that to the bill? i think you'll have republicans voting. those are critical components of h.r. 2 which we passed over a year ago that's collecting dust on chuck schumer's desk.

he's starting to get pressure if as is president biden. they're looking down at cracking down on sanctuary cities and states like new york which calls itself aing sanctuary state. we are protecting thesing illegal immigrants, not to mention the cost. the taxpayers in new york are going to be spending other $4 billion in new taxes to pay for this, not to mention what new york city if has already spent and hurt their taxpayers with cutting resources. liz: congresswoman tenney, thank you for joining us. and congresswoman tenney just referenced mayor adams of new york. new york has been flooded with thousands of migrants over the last year, some of whom have committed homicides and other violent crimes including attacking and shooting at security guards and police officers in times square recently. there is video of that. the shooting suspect who opened fire in the middle of massive crowds, a venezuelan immigrant, has been arrested. and in the wake of these crimes, new york city mayor eric adams just got bad news from the city

council in the past couple of hours. the members today slammed his call to alter the city laws in order to more freely allow the deportation of migrants accused of crimes. the council's speaker calling the mayor's suggestion to do that, quote, harmful. new york, of course, is a so-called sanctuary city where noncitizens are provided services and protection against federal immigration authorities. so is philadelphia which is part of democratic congressman brendan boyle's district. he is also the house budget committee ranking member, joins us live from capitol hill. congressman, we will get to the fact that the continuing resolution was passed by the house just a couple of hours ago to extend the discussion, so we will not -- at least if the senate votes for it -- see a government shutdown for the next seven days at least. but we'll get to that in a second. immigration now the dominant issue in the upcoming presidential campaign. what do you hope president biden says and does when he speaks in

brownsville pretty much in the next hour? >> well, nice to be back with you, liz. first and foremost, i do think there'll be with several top issues in this election of which immigration is one. but the economy certainly never goes too far away from people's minds as well as the situation we face in europe and the middle east. in terms of what the president can say is, i hope that he points to the major bipartisan bill that passed the senate, got 700 votes that -- 70 votes that actually would provide more border officials, more equipment and several other tools that was able -- that bill, by the way, was able to attract support from most democrats and about half the senate republicans. if we have the opportunity the vote on that here in the house, we'll pass it, and that way we'll have even more tools to go to the southern border which, obviously, i think everyone agrees needs desperate help right now. liz: what you're looking at on our screen for our viewers and the congressman, president biden is on the ground there. he is meeting right now, walking

along with members of the customs, border patrol, customs and border patrol agents, getting the story. with we certainly hope, from the challenges that they have definitely faced. and that really brings us to what's going on when it's in philly or new york. we have said that this is a very big with business story. stores are closing right and left because of attacks and in many cases theft by illegal migrants or migrant withs who have been shipped here from texas, because texas is done shouldering all of the weight of this. you know, how do you square that with the quality citizens of america who reallying just want the rule of law? >> well, or first, liz, i'm happy to report to you that in philadelphia over the last 12 months we just experienced the biggest drop in violent crime including the biggest drop in homicides in my lifetime. so actually the is situation, i can't speak really for other

cities, but my city, actually, we are doing far better when it comes to violent crime. now, in terms of immigrants, let's be clear, and i say this as the son of an immigrant who came here legally in 1970. we are a nation of immigrants. that's something that i'm very proud of. immigrants help build america. however, i certainly am bothered if anyone jumps the line. i am bothered if anyone commits violent crime where they're here legally or not. i -- whether they're here legally or not. i believe every person who commitments a serious and violent crime should be dealt with in terms of prison, and i make no distinction -- liz: imagine that. yeah, exactly. >> -- a person's status. liz: and that that has really become a problem in the state of new york where people are arrested and then immediately released. no bail. they don't have to pay bail. so let me quickly get your thought on the continuing resolution that just passed in the house. for the budget. it extends it for another seven

days, i believe. what will happen then? are we going to go through this drama again? obviously, speaker of the house mike johnson trying to square this and wrap his arms around two sides of his own caucus. tell me exactly what you think will happen. >> i know today is leap day, but really it's like groundhog day because just about an hour ago i voted for i think we're up to the fifth continuing resolution. frankly, it's embarrassing. we would have had this resolved back in september, but as you've observed, this is a major fight within the house republican conference. it was ultimately what toppled kevin mccarthy. mike johnson was, who i think is a very good person and someone who i get along with well, but the reality is he was literally the fifth choice the lead the republican conference because they were so badly divided internally. that dynamic is what is preventing an agreement that was reached last june by kevin

mccarthy and the president and democrats and republicans in congress. it actually got two-thirds of the vote here in the house, and yet here we are so much later, some eight months on since june, we have not been able to finally pass the budget for the fiscal year that we've been in for the last five months. liz: i don't envy you, but i respect all of you for at least, hopefully, trying. we will follow it. congress marneing, thank you -- congressman, thank you. >> thank you. liz: what you're seeing, again, on the screen is president joe biden on the ground, brownsville, texas, speaking with customs and border patrol agents. and we are, just so you know, very, very close on following former president trump. he's about 10 minutes away from eagle pass, the area on the border. he will stop there and speak with law enforcement as a well. we have cameras there. so it's this dueling presidential visit to the border. all right, any moment now when

former president trump arrives, we will take you there. in the meantime, the markets on this last day of february, yield, you want it, you want yield with your investments but intimidate dated by the process of investing in corp. bonds? blackrock's bond king rick reider standing by rah ready to name investments that are pushing the etfs steadily higher. we're coming right back. stay tuned. ♪ ♪ the world the viking way from the quiet comfort of elegant small ships with no children and no casinos. we actually have reinvented ocean voyages, designing all-inclusive experiences for the thinking person. viking - voted world's best by both travel + leisure and condé nast traveler. learn more at viking.com.

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liz: treasury yield withs are ending the month of february lower, so you can see here an intraday picture, not a month to date. at the moment they are moving higher, at least for the 2-year. we have definitely seen this

picture reverse over the past couple of hours. when we started the show, yields were down. finish right now we're looking at the 2-year up 1.7 basis points. inflation, as measured by the pce, did moderate last month, and that's what caused the initial dive in yields. take a look at this 2-year and a closer look, hitting it lowest point since february 20th. the 10-year yield is a similar story. it's hitting a 2-week low although now down just 1 basis point on promising data from the fed's favorite inflation if gauge. came out this morning. the headline pce, known as the personal consumption expenditures index, and the core pce which strips out volatile categories like food and energy came in line with expectations with core pce's annual growth the low since march of 2021. make no mistake, folks, inflation is still here, it's just rising at a slower pace. that's called december inflation.

atlanta federal reserve president rafael bostick saying at an atlanta fed banking conference saying he still expects a cut this summer if, but today's pce confirms a path to the 2% target, we're not there, will be an uneven, bumpied road. then chicago bank president austan goolsbee, seemingly more dovish, at an event sponsored by princeton university saying, quote, we've made substantial progress on inflation, but there is a risk to betting against the fed's commitment to get to 2%. we get it, they want to get down to 2 inflation. but will the dog days of summer bring us down there so that we can then see a rate cut? let's bring in blackrock cio of global fixed income rick reider in a fox business exclusive. now that you've seen the freshest inflation data, are you altering your rate cut timeline at all? which month do you believe the fed will bring out the scissors? >> so -- [laughter] so i am, thanks, liz, for having me on. so not really.

i mean, you know, i think, you know, i thought for a while may is probably the appropriate point. the markets were a little overzealous thinking you were going to get a march cut. i think may, i'd say may into june now. not necessarily because of that core pce number. inflation, you described it exactly right, it's coming down. the haas mile to get to 2 is really hardt -- hard. by the way, if we get to 2.5, we have core pce by april getting to 2.5, we think it hangs about there. the hard part about getting inflation to 2, there are things that are still sticky in inflation, services, health care costs, insurance costs. these are things, you know, parts of shelter that happen with a lag. these really hard for the fed to influence, so my sense is they can still move because rates are so restrict thive. they can still move, but there's no rush. the economy's doing fine, inflation is at a level that's not scare i today. they can wait and get some more data. chair powell talked about that on "60 minutes," in the press

conference, you know? they can take a little bit of time and see some more, hopefully, good news. liz: but let's be clear, you're still holding on to a possible shred of may, which i find interesting because now the probability if that the market is betting on a may rate has fallen all the way down to just 18. fed funds futures. that's what we're showing. >> yeah. and p liz, you know, so this number, we think that the next couple of months, you know, you've got a monthly number today that was around .4, we think it's going to drop to% 15, .16. so if you get that data over the next couple of months, may's e definitely not out of the question. listen are, it's a may-june. it's not really a big diego -- deal for the markets, but, yeah, i think we're in that zone. liz: okay. there are other ways to get yield. obviously, the 1-month if treasury has a 5.389%, that that's great. bing, we've talked about this before, the blackrock flexible income if fund, b-i-n-c.

it's actually done pretty well since you put it all together. you are the artist here o you know, stirring the witches' brew. i'm kidding -- [laughter] you say that in here you're looking for high yields and good values. 22% of it is corporate bonds, 6% from if emerging market debt, 24% from so-called junk bonds that are not necessarily investment grade. teach our viewers how the spot good value in bonds like this. >> it's a great, so great question, liz. by the way, think junk is less junkie these days. [laughter] there's some crazy stats now. we went through this incredibly low interest rate cycle. about 70% of companies refinanced their debt. when the fed funds rate was under 1. it's now at 5.38. fixed income, there's 68,000 securities in fixed income. the s&p 500, what we do is we go around the world. we're owning -- we like buying european debt. there's a long story about the

currency benefit as a dollar investor you get, but you can get high yield with, european high yield at 8, 8.5 president. you blend it in the portfolio and, as you say, a lot of investment grade credit. in europe we like buying bank debt, but you can buy it in subordinated form -- liz: it's yielding. >> and you've got some really good yield ares. we're in a unique environment that people are starting to hock in these yields. if you can clip, and binc we're yielding about a 6.7%, boy, if you can lock in 6.5-7 good quality credits -- liz: yeah, elle take it. >> -- diversify around the world, it's pretty good. by the way, put that to your equity market which is obviously having a good go, but it's a good way to run a portfolio. liz: rick reider, so nice to see you. thank you very much. >> you too. thanks for having me on. liz: okay. we've got more break news. former president donald trump is now on the border at eagle pass. the shot is a little bit unstable because we are using a

technology called live view, and it is a pool if camera. we're trying to kind of clear that up for you. but he is there on the left of the screen, eagle pass, texas. he's expected to make remarks after getting this briefing from border patrol firms. the president is joined by texas governor greg abbott. th president of the national border patrol council and other officials. they are in shelby park with by the eagle pass international bridge. and trump had written an op-ed for the daily mail this morning that might give us an idea about what he's planning to say in the next few minute ifs. he did blame joe biden's policies for the mass migration of millions of illegal immigrants into the country. we are coming right back with much more. we do have the shot and, hopefully, when he begins to speak -- it'll be in this hour, we're not sure about that -- but we will follow it every step of the way. stay tuned. ♪ ♪ are everywhere you turn. do you charge forward?

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liz: securities and exchange commission chairman gary gensler has a new target, openai. the commission is currently statute niegz internal communications between its chief executive, sam atman, and other directors to see whether investors in the company were misled by the executive team. but securities lawyers say the case could be a hard one to bring. joining us now, charlie gasparino. can i just set this up by sayin- >> yeah. liz: do -- openai, behind the wildly popular chatgpt, and sam

altman if was booted last month and brought back in this soap opera --? >> and you remember, the journal broke the story about a the investigation, get that clear, remember, they said they booted him because he didn't disclose some stuff to them. it was very vague. here's the problem, i think, with the case, and i'm talking with lawyers that are involved, okay? they point to two things. first off, it's not quite an investigation. it's an examination right now. and -- you've got to know a little bit about how the sec works. the o.c., the office of inspections, examinations and compliance, often does the first, you know, layer of looking at stuff. and if they find something problematic, they kick it to the enforcement division. and if they find something problem mat in, then they go further -- problematic. and i don't think their9 twat quite, you know, they're at the enforcement division level just yet. i mean, i, you know, i saw -- based on what i'm reading and and hearing from my sources. so you've got to put that out there. number two, it's not a public

company, you know? if this is the where it gets a little -- liz: yeah. why are hay -- well, microsoft has a huge investment. >> now they do. remember, before that was kind of a nonprofit, and they went out and did a round of financing, right? liz: correct. >> so it's kind of, like, hard to say investors were misled in that round of financing. i think it would be private investors, or right? on something that maybe altman said or didn't say. i mean, when knows. then you're going to have to find damages. liz: is there a are precedent can for the sec looking -- >> yes. theranos. liz: oh, look at you. and. >> that's what people were telling me. the theranos if person. but again, i think people lost money in theranos, unless i'm missing something here. a lot of money. liz: sure. >> there's not that. so, like, the alleged fraud by whatever her name was -- liz: elizabeth holmes. >> elizabeth holmes and crew, whatever they did cost the initial private investors, who were sophisticated investors, still a lot of money, right? because it turned out not to

work, the product. even though she sold them on it would work. this is a little different, you know? kind of you know what you're getting with chatgpt, right in it's not the most perfect thing in the world. you know, you're going to have to really prove that these guys, you know, were screwing around with numbers or whatever that brought in the investors to invest in something that maybe is a fug sax i -- fugasi. liz: a technical term on wall street, folks. >> yes, it is. chatg gpt, is it a f if ugasi? and is it sold that way? if microsoft -- fug with asi. it's hard to blow smoke up you know in what in microsoft if when they are on the fore if front of due diligence and avenue i. and everything. -- a a.i. and everything. so i say why are they bringing the case why are they looking at

it? gary gensler, this is another area where he wants to expand the sec's foot print. liz: a.i. and all -- >> he thinks he just wants to take on everything. liz: charlie, thank you. >> okay. liz: fox business alert, energy drink maker cells yous and monster beverage -- celsius, are bubbling up right now. celsius, 19.6% right now, that's a record high, after a stronger than expected earnings report. monster beverage rising after it posted strong january sales and gross margin expansion. it's up 5.33%. there are a lot of small beverage stocks out there. vita, cocoa, national beverage, it's a mixed picture with vie taco coe up about 1%, xevia down 6.25%. the maker of spam, hormel food,s is at the top to have s&p 500 after the food processing company beat on estimates. the spam maker reported first quarter earnings of 41 cents a

share versus the 34-cent estimate. or hormel say it expects continued growth in its food service business, and investors absolutely love that. they're punching the stock higher by 13.a 5%. snowflake shares kind of melting at this hour, down 18 percent% -- 18% after the cloud data company posted disappointing product revenue guidance for the first quarter, on track for its worst day since it went public. the company also a announced the retirement of its longtime ceo who shepherded the entire ip if o. shootman will be replaced by a former google executive who joined last year with, saying snowflake needs executives with strong tech chops to lead the company9 into the anal of, you guessed it, a.i -- age of, you guessed it, a.i. >> we've got somebody with the tech chops already when it comes to the a. i. craze which has swept wall street to main street. the company with the ultimate ticker for the sector, yep, ai,

is ready to pounce. c3ai's ceo is basking in last night's numbers that have the stock the moving higher. he's got details on the current quarter. is it as a sparkly as the one they just reported? the path to profitability. salesforce and intel at the top of the dow 30 heat massachusetts intel sees growing opportunity from its programmable chip unit thanks to a. a.i., that stock the up 1.8. and salesforce up 3.25%. "claman countdown" coming right back with tom see bell of c3ai. ♪ ♪ (man) what if my type 2 diabetes takes over? what if all i do isn't enough? or what if i can do diabetes differently? (vo) now you can with once-weekly mounjaro. mounjaro helps your body regulate blood sugar and mounjaro can help decrease how much food you eat.

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(vo) what does it mean to be rich? maybe rich is less about reaching a magic number... and more about discovering magic. rich is being able to keep your loved ones close. and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. ♪ liz: yeah, this is what you want to see if you invested in a company, shares of ai are rocketing higher by 25% right now after posting quarterly results much shinier than expected. the enterprise a.i. company

reported a narrower than expected loss but also topped revenue expectations in its fiscal third quarter. c3ai also forecast full-year revenue above the street's expectations due to overwhelming demand for its enterprise a.i. applications. and for those of you who don't know, enterprise means business, so they work with businesses versus say, for example, chatgpt which is just us, the rest of us, right? if now, they have customers hike are big oil and gas producer shell, and they enable them to monitor its thousands of pieces of industrial equipment across its upstream, downstream manufacturing and integrated gas operations. and you know what? even the world's most powerful aviation fleet, the u.s. air forbes uses c3ai's artificial intelligence to maintain and improve if aircraft availability. let's bring in the mind trust behind this, ceo and chairman of c3ai tom siebel. this has got to feel pretty good, to see investors react in such a positive way.

can i just get you, because we know you came in nay roar e -- narrower losses than expected, give me a sense of why you are so increasing your outlook for 2024 full year. is it something that you seeing right now in this current quarter, and what is that? >> well,ing we've been planning for this a.i. boom for 15 or years, les. we've spent -- liz. we've spent billions of dollars building an a.i. platform and now score of turnkey a.i. applications to address aerospace, manufacturing, health care, supply chain, demand chain what have you, and now the world has kind of come our way. the world has now realized that a.i. is really important. there is no business leader, in government leader, no military leader who isn't having a meeting today about how to use a. i. to improve their business processes. and we have the good fortune of being called to serve these people, and we, you know, take

great pleasure in doing that. bottom line, business is great. liz: is it fair to say that your calendar is more full this quarter with those types of meetings than what you just reported? >> we are busy. liz: you're very busy. okay. so how far out do you see the probability of tipping into profitable numbers here? and i know it's less about when is and more about what will get you there. >> see, we've actually head some announcements on this, but i think, you know, by the time you get to -- so we're just finishing up fiscal year '24 right now, and we have, i think, three quarters of a billion dollars of cash. so we're, you know, we're very well capitalized. and we'll certainly be, you know, non-gap profitable in fiscal year '26. liz: okay. >> so we're, you know, right now we're focused on growing the business, we're focused on gaining market share, we're focused on establishing

leadership globally in enterprise a.i., and, you know, i think that we have -- what we'll be running here is is a long-term profitable, cash-positive enterprise application business. liz: you know, you look at this field, it's incredibly crowded. i know a lot of sort of side competitors do different things, different shades of things. but service gnaw, oracle -- service now, oracle, salesforce, ibm, they're all in the enterprise a.i. race at the moment, this land grab. what is it that you push out there to say we are different than that? we offer more? >> oracle has an enterprise a.i., has an enterprise staff. i was there when with we built it. we started building that in 1983, okay? if salesforce, as a crm if stack, you might recall i invented crm. liz: yes. >> they have a crm stack that

they finished about the year 2003. and now that, or you know, a.i. has become all the a rage, oracle, salesforce and many other companies have put an a.i. sticker on their box. it's the same stack that they've been shipping for years, it's just now it says a.i. [laughter] c3ai is quite different. we build a technology stack from whole cloth starting in 2009, spent billions of dollars building a stack, you know, suited for one person purpose and this is -- for one person purpose, and this is enterprise a.i. applications. and where i think the world's in terms of the number of applications that we offer, i think we're the world's leading provider today. so we just didn't put this a.i. sticker on an old box and every software company in the world has done that. we're a.i. out of day one. liz: you need a nobel science prize. i want your name in there, tom? if thank you,. [laughter] you were there at the beginning. good to see you, my friend.

>> thank you, liz. liz: rate cut timing? rate cut numbers, cleveland federal reserve president loretta mester speaking on a competing network making a headline right now saying three rate cuts this year feels about a right to me. well, rick reider said he's still on for may, possibly pushed out to june. we shall see. former president donald trump expected to actually speak at any moment now on the hot button issue of immigration as he visits eagle pass, texas. he's behind closed doors right now, but our cameras are there. we have a reporter there. we will take you there live. and as you see, he is greeting some members of the border patrol and texas governor greg abbott. marathon digital sliding at this hour after gaining triple digits over the past year, up more than 350%. the ceo is here joining us to talk next about what's behind at least the blip today and if how

the impending bitcoin halving, yes, that once every four years process, will impact the crypto miner. taking a look at the dow, it's just flipped into positive territory, gaining 49 points. folks, the s&p at a gain of 26 points is at a record. and the nasdaq also at a record. so we've till got 12 more minutes to trade here. still got 12 the more minutes to trade here. let's see if they can hold. ♪ ♪ a force to be reckon with. no, not you saquon. hm? you! your business bank account with quickbooks money, now earns 5% apy. 5% apy? that's new! yup, that's how you business differently.

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liz: breaking news. at any moment we expect former president donald trump to make remarks as he visits the border in eagle pass, texas. earlier he got a briefing from customs and border apatrol from governor greg abbott. president biden and trump are visiting the border today. dueling appearances. president biden is expected to make his remarks in brownsville, texas, next hour. immigration, one of the top issues affecting voters in the 2024 election. these border visits are incredibly focused certainly speaking to voters on both sides of the aisle. president biden has been

aaccused of completely 58 howing a very porous border not doing enough. he would argue it is on congress to do that. however, he has undone what president trump when he was in office put together and he had done that through executive order. as we watch the story we'll bring president trump as soon as he becomes available? the meantime we need to remind you it is the last day of february. what a month it has been. if you look at the canes for the month, the dow, s&p, nasdaq the point gains have been pretty stunning. if we put up what those gains have been because i think it is really pretty interesting to see because for the month, we have the month to date dow up 2 1/4%. the s&p's been on fire for the month, up 5.2% and the nasdaq for the month has popped 6%. the markets continue to power

higher and the s&p and the nasdaq are in record territory. five minutes left to trade, folks. bitcoin has been an absolute winner. it is having its best month since december of 2020. over the past two days it has jumped 9% as crypto enthusiasts try to snap up the currency before april's scheduled halving event. that is once ever four years milestone, reward for mining the crypto gets chopped in half. how will that affect miners and their stocks like marathon digital which had a great month. it is up 43%. it is falling today by 16% after reporting fourth quarter financial results after the bell yesterday. the company missed on earnings but beat on revenue fueled by a massive spike in production of bitcoins. joining us in a fox business exclusive, marathon ceo, fred field. you increased your bitcoin production by 172%. you've been on before, had great

numbers. are you hiring more brilliant coders and people who mind these things? it is incredible. >> we had the great benefit of being able to put online a lot of capacity. you have to think of bitcoin mining operating data centers and we grew our data center capacity almost threefold last year for bitcoin mining. we're continuing to grow it very aggressively this year, into next year. we announced on our call next week we'll double capacity over the next two years again. the halving obviously has the impact unlike any industry in the world essentially our production confident, the output gets halved every four years. we're constantly focused optimizing what we're doing and focused on driving the new types of technologies that will drive increase in transaction volume and adoption of bitcoin. the more people that use bitcoin, the more things about

it on bitcoin, more transaction fees generated, more revenues we get as we continue to grow our operations. we operate on three continentses today. we're not just in north america. we continue to grow aggressively. our technology business is actually starting to produce some small revenues. we released people to build tools on bitcoin. people in the bitcoin mining business, emerging technology another data centers which can be leveraged in the a.i. world and we're excited what is going owning. liz: fred, the securities & exchange commission, the regulators, they are pouncing on publicly-traded companies. those data centers you have are energy gull percent. you've been trying to go more green. how do you avoid pretty much inevitable that the government will come of a companies that use bitcoin because you use inordinate amount of electricity? >> you need to put things in context. bitcoin miners use less than 1%

of the energy consumerred in this country. they use significantly less than banks and other financial institutions use. before you compare bitcoin energy consumption to the amount of energy used by gaming consoles and nintendos, microsoft x boxes, christmas tree lights. the a.i. industry will likely far outweigh in the bitcoin mining industry in it is energy consumption. you see more switch to a.i. the reason being bitcoin miners can shut off energy consumption to help them balance the grid. companies like aws, microsoft, et cetera, can't, because if they curtail their services consumers get angry. we can turn off, turn on our machines to help balance the load. we're symbiotic to the grid as opposed to pair sittic to the grid. liz: -- parasitic. liz: good luck keeping the dogs

off you. you fund some mining operations, is that going to increase, are you increasing the number you sell or drop it down? >> actually it dropped, as the price of bitcoin goes up our cost to run the business is pretty constant. as the price of bitcoin goes up we sell less and less bitcoin. last year we were selling 700 bitcoin a month out of our production, we're selling less than because the price goes up. that is the beauty of the industry that you work in. liz: fred thiel of marathon. interesting sector. please come back. guys, the record, the nasdaq, its first record close since november 19th of 2021. [closing bell rings] it needed 110 points to do the strict. it is up 152. the s&p fourth record close of 2024. ♪. david: hello, everyone, welcome to a special edition of