nation in the world, when you're born here you have a chance that it changes the course of your life. president biden last night talked about new businesses. under donald trump, here's what they have in common, these entrepreneurs know they can take a risk because taxes are low. even if it is billions of dollars and with that sort of impetus, you get the innovation is an american thing. the ai miracle, it comes with prosperity. we love to share with others, we did it through charity, anyway we can including my show and liz claman's show. liz: i'm not sharing my chocolate. charles: prices are going

through the roof. liz: don't ask when you see me, tough, thank you very much. around 10:30 a.m. it had $70,000, it would pass a new record to a higher one. 70,000 one hundred 75 after you see it retreated, stand at 69,000 but pretty fascinating as we see that. we are looking at a cliffhanger in the markets as we kick off the final hour of trade. the dow jones industrials looks to be down a fraction, 0.4% for the week. it is gaining 108 points. the s&p down points, they eke out a weekly win. if it does, that would be the 17th of 19 weeks that it has won.

if it does that, the best streak since april 1964, we have the s&p down 0.1%, for the week, up 0. 2%. we've got to stay tuned it to see if we get that 17 of 19. utilities and materials, not technology but the drivers remain staggeringly narrow. nvidia, meta, amazon and microsoft drove have to gains last month. nvidia hit a fresh record today, $970. that was 10:thirty eastern time. look at the price, it has retreated, $888, down 0.4% at the moment. a reversal here. same price action from meta, 15 minutes before nvidia hit its record today.

right now, it is 507. we have a situation developing with microsoft. the software giant saying that a russian state-sponsored hacking group is trying to break into microsoft's systems. using a brute force attack called password spraying, the ceo of crowd strike knows that practice. coming up, george kurtz, how crowd strike has found a way to foil the actors and how to spot with you and your company are being password sprayed. i was fascinated when he gave me the markers of what to look for. speaking of looking for things the markets are deciding whether this morning's monthly jobs report is good news or such good news that it makes to postpone an interest rate cut by the federal reserve. according to the labor department, 275,000 jobs were created last month. that's better than the expected

200,000. a strong labor market lessens the need for stimulative cut in interest rates but there was an times in the report that may indicate growth might be slowing and that could push the fed to bring out the scissors sometimes this year. and to 5400. that was a large revision in the previous months. we can see the initial print showed a stunning 350,000 jobs created in january but today the number was revised down to 229,000. one hundred 67 fewer jobs. how do you think the markets are absorbing that? >> it was a net positive. more of the same. we are seeing disinflation on

average hourly earnings. tight labor market, still relatively healthy in terms of consumption. what's most important for consumption in the us is real wage growth and that remained positive. people are making more than they are spending on the grocery store on the margin. it's not a number that will get a cut earlier. if we were expecting something, kind of a softer number, today was basically another point in favor of a june cut which we were expecting. liz: the dow is less than 1% from a record high. the nasdaq only needs one point. >> a cliffhanger of a day. neil: as you make the point, that is a narrow push. the market is going to broaden

when? >> since last time we talked. and and all the gains of the last month. that differential or growth, the average company in the s&p starting to narrow. by the end of the year we will see other companies accelerate in earnings growth and mega tech companies grow but start to decelerate. they are getting really big. charles: the chips are down today. some of it has to do with leadership for so many months. broad.com and marvell technology. they had disappointing outlets.

when broad.com maintained its annual forecast, $10 billion in sales. >> not good enough. no one is left a biden's stocks. the average money manager is equally overweight, the mega tech companies driving the market. do they buy more of it or extend their portfolio concentration into the small pocket of names? the other problem is you are starting to trip up diversification requirements. we saw this in 99-2,000 around the tech bubble. i remember this. money managers couldn't buy enough tech to keep up with the benchmark. this is the point that portfolios were 50% in one sector. that's not a diversified portfolio. use high tech close to peak,

might be there. liz: we are so focused on technology, telecom, communications, industrials or materials at 30,000 feet, last month president biden in the state of the union address talked about how well he believes america is doing, let's listen to a quick sound bite and you can respond about how the market interprets everything. >> president biden: i inherited an economy on the brink. now is the envy of the world. 15 million new jobs in three years. a record. a record. [applause] >> president biden: unemployment at 50 year lows. liz: unemployment for february ticked up to 3. 9% which is a two year high but relatively low. >> this is an economy that has

been surprisingly resilient. the seeds were sown many years ago. back in 2018, we started weaning the us off of china growth. that was important because we got covid, supply chain risk is revealed as a huge negative, global supply-chain risk. we are in better position. half the activity taking place between the us and china has been replaced by us, mexico, and canada. as north american ct. or has been in play for a long time, that's a positive. liz: the economy and the stock market are two separate things but the interpretations that the market as of voting machine take from what is going on indicate bullish sentiment from where you sit. you are looking at the s&p at 5400. we got the s&p at 5143. >> decent gain from here, 5%.

what drives it is if the fed does cut interest rates, think about all that money sitting in cash on average retirees balance sheets. they are going to want a higher yield than 5 or 4 and they will come back into equity. the average company in the s&p 500 is returning a decent amount of cash or dividend, those dividends are inflation protective. liz: by the s&p. >> it's pretty expensive. if you take out those big seven companies it gets cheaper and if you look at the average yield it is supercheap. that is the benefit, you get this kind of, these investments you can live off of as a retiree. if you think about baby boomers and traditionalists. liz: are they going to be pushed to put that money into equities and take on more risk?

>> i think it could happen. think about what happened in the era of 0 interest rates, equity dividend yield was the hottest game in town. you some money managers that launched income funds and raised assets. i think income is going to continue to be part of the investment discipline for a long time given the demographics. liz: when my mom was 80 interest rates were at 0 and she said i want to be in nike. i want to be in stocks. she did it really well. she had 87. we said -- let's be careful. great to see you. thank you very much. here is our recap, 275,000 jobs were created in february, far above the expected 200,000. beware of revisions. you never know what will happen with revisions next month. all lies on bitcoin, crypto hitting a fresh record,

breaking past the $70,000 march for the first time ever. it is selling around 69,000. s&p 500 and nasdaq hitting intraday records. we will see if they close in record territory. when i say we, you guys stay right here. we've got it all. microsoft putting out a red alert. it is under attack by a nation state. russian hackers using password spraying to target the tech giant's source code. george kurtz knows how to strike back against password spraying. these next to ask plane how you and your company must know how to spot that it is even happening with these attacks getting more sophisticated. look at the 1-year gain in the cybersecurity etf aptly named hack, up 30%. it indicates investors believe cybersecurity stocks can

sustain revenue momentum. all right, closing bell 48 minute away. "the claman countdown" returns in a moment. (bobby) my store and my design business? we're exploding. but my old internet, was not letting me run the show. so, we switched to verizon business internet. they have business grade internet, nationwide. (vo) make the switch. it's your business. it's your verizon.

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xfinity gives you reliable wifi with wall-to-wall coverage on all your devices, even when everyone is online. maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad. fast reliable speeds right where you need them. that's wall-to-wall wifi on the xfinity 10g network. liz: we told you about microsoft, revealing today the russians are not just coming, they are here. shares of microsoft are off of the lows of the session but down 0.2%. the company came out today and said the kremlin sponsor hacker group midnight blizzard has been caught trying to infiltrate microsoft's network by using stolen corporate email information obtained in january during another cyber attack. midnight blizzard is now password spraying microsoft systems in an attempt to

penetrate its firewalls and access services microsoft provides its customers. customers that include the us government. perhaps most disturbing, microsoft says the threat actors ramped up password spraying attacks tenfold in the first couple days of march. what are password spraying attacks? how do you fight the man his first reaction since news of the attack, is crowd strike cofounder, president, and ceo george kurtz. explain as simply as you can what password spraying is and how it works. >> password spraying is a simple brute force attack used -- it has been going on for a long time. in general, you think of these brute force attacks, someone would take the user account and throw dictionary through it and try to guess every password. that will lock out after three tries. password spraying is taking one account and trying the same

password across a large swath of an organization like microsoft and if they use a common, shared password when a new account get set up, the high probability of being able to get into the system by trying the same password against multiple accounts, instead of changing words in the dictionary you just change the accounts with the same word. liz: what the attackers did maybe in january was obtained a list of usernames, multiple logins using one password to see if it worked because usually if you try different passwords on one account it will trigger a lockout. >> the scary part is when you think about best security practices you should have two factor identification. i am not quite sure the details of this, we are waiting to see what comes out but password

spraying and the scale of attacks is pretty basic, and two factor identification generally to prevent against those. and this gives them in a idea, how big and wide these are. liz: you are competitors. under their umbrella, would you help them out if they called? >> help anybody out. at the end of the day when you look at these adversaries, this is a national security issue. a lot of security companies have to come together. the concerning part for me is the level of impact into the federal government we see cascading impact with microsoft and the federal government in the past and becomes an issue of national security. the scary aspect of this. liz: we've got a lot of ceos

and it folks in charge of many companies watching now. can you tell them how to spot whether their organizations are being password sprayed? >> this is one of the areas we've been deeply involved in over the last couple of years, technology that can identify these attacks, one piece of what we do with crowd strike and at the end of the day what we are focused on is being able to identify using ai, these anomalous behaviors, the threat report came out in january, the ones you report on our identity-based and this is one of the top priorities for organizations to make sure they have technologies like that in place. liz: look for a high volume of logging activity over a brief period. if you see a spike in failed login attacks by active users

and logins by nonexistent, inactive accounts, that is what you say you got to look for. >> more advanced technology to look for all this anomalous activity to be easier for administrators to spot. liz: any doubt vladimir putin's fingerprints are on this type of attack? >> hard for me to say. 's fingerprints are on it or not. i know these adversaries, we call it cozy baer has been very focused on getting it to microsoft. some of these attacks are very basic. where do they go? what do they get to? talking about the source code, coming out friday, in january when they first reported this,

a level of transparency they need to step up and understand what happened. what's the impact of the source code that was stolen. liz: high-value customers, crowd strike is in great demand, stock is up 170%. something tells me we will be talking again soon. >> i look forward to it. liz: cost of food dominating kitchen table talk across the country so much so that president biden railed against it during his state of the union speech last night, pointing a finger at sure inflation. when food companies shrink the size of items or the quantity of the product but keep the price the same. kroger's pushed by albertson's jack up prices even more as competition in the sector shrinks. government regulators think so. with kroger closing in on a 2-year high vowing to forge ahead with the merger we will

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liz: as the pace of inflation slows, americans are getting hammered by high food prices. let's take egg prices. they are off their high of $4.52 in january 2023 but

today's price of $2.52 per dozen, still up 71% in january of 20 one. 21. the average price of a gallon of milk, $3.96 in january of this year. that is up from $3.47 in january of 2,020 one but off of the highs of january of 2,023. those are the staples you find in the refrigerator. if you want to splurge and purchase a stake it will run you $10.69 a pound. hoping to find relief by eating out at restaurants? madison alworth is at the exeter family restaurant, the discovery you found between the two. >> reporter: this restaurant, folks love and you get good value for your dollar. the reality is food across the board is expensive and that is what i'm hearing from diners here, people have been friendly in letting me interrupt their

deals. you are giving us the example of inflation from 2021 to today. biden says inflation has come down year over year but are you still feeling inflation when it comes to the grocery store or a restaurant? >> everything. inflation is 17%. way too high, affects everything from the grocery store, the gas pump coming out to eat and affects the interest rates for young kids buying homes today. know how they do it. >> reporter: 17% or 18% since biden took office 2,020 one to today. you are retired fixed income. that make a difference when it comes to inflated prices? >> absolutely. you can't do things you used to do. shopping is more difficult for me. it is everything.

>> reporter: i will go across the table to calm. it one of your favorite restaurants, how have you had to adjust when it comes to family meetings at this restaurant? >> have to cut back from five times a week to two or three times a week and make do with -- without coming. don't know what the future is going to bring also. if you can afford it, don't know, take it slowly. liz: be careful. enjoy your meal. i will swing across the restaurant to talk to marilyn. we were talking grocery store. we were talking grocery shopping and how expensive it is. you noticed that is costing you more when you go to the grocery store? >> pet food has gone up. chicken has gone way up. liz: thank you so much. good deals here which is why

there have been customers all day. the reality is whether you are eating in our out, food is up and no way for the americans to escape that because we've got to eat. i will send it back to you. liz: people tend to think both restaurant prices and grocery prices move in lockstep. they sometimes don't. this is valuable information thanks to all your guests. food prices took center stage during president biden's state of the union address. he doubled down on accusations manufacturers are the ones to blame for soaring food prices. listen. liz: too many corporations raise prices to pad their profits charging more for less. that is cracking down on corporations engaging price gouging and deceptive pricing from food to healthcare to housing. snack companies think you won't

notice if they change the size of the bag and put a lot fewer, same size bag, put fewer chips in it. i'm not joking. it's called shrink inflation. liz: we notice. will kroger's proposed acquisition of albertson's, two huge go >>, mill division give that to higher food prices by reducing competition? the federal trade commission seems to think so but joining us in a fox business exclusive is the man actively advising albertson's on the deal, solomon partners, head will grocery investment group scott moses. people struggling with high food prices, with the kroger albertsons deal make it worse? >> thank you for having me. food inflation is a challenge for all of us. we should focus on the causes whether it is covid, supply-chain, psychological shortages around the world,

food inflation 8. 7% % in february 2022. the ukraine war brought it up to 13% of that summer. we felt that% that summer. we felt that but the food manufacturers have been exacerbating matters by taking price increases. they talk about it openly and earnings calls and shrink inflation, we all feel cheated. conversely kroger's business model is to lower prices. kroger has a 20 year track record of systematically investing in $5 billion to lower prices for customers. companywide and acquisitions like that. with the merger, kroger's clearly committed to lower prices by several hundred million dollars more. the merger is going to help millions of families across the country fight food inflation at the checkout line. liz: we just had a week and 1/2 ago ftc's head of competition henry wu who laid out the government's case and several points surrounding that. let me let you hear what he said and you can respond.

>> the complaint alleges if the merger is allowed to proceed it results in higher grocery prices for goods like eggs, bread, and milk, and those that these two companies employ today. liz: his argument surrounds the fact that in smaller communities they only have albertson's main plates, like safeway, kings, he believes they could summarily eliminate those. the ftc is going to fight. >> it is important to contextualize the industry and how much it changed over the years. 20 years ago supermarket groceries like kroger which has banners like qfc out west and

albertsons, jewel and united, 10 of the top 15 us grocers. today, those supermarket grocers are down 36% share and only got 5, the top 15 grocers. over ten our national groceries like walmart, target, costco, amazon and whole foods, trader joe's, dollar general, those guys have 60% gross we share across the country. consumers regularly shopping at 5 grocers, not just one like the 1980s. there has never been more competition, more price transparency and price convenience. as a consequence, and pose an x essential threat to supermarket groceries. in the past 20 years. we've seen this happen and that is why the transaction is so important to protect supermarket grocers and make sure they are here for us over the next 20 years. liz: to costco's point, that

stock is down 7.3% on earnings disappointments. i do agree that once these companies get bigger they then have scale to purchase in volume and fight the amazons of the world and the walmarts who are the ones who have the most control and not unionized. if you care about union workers with the government claiming would be hurt, you would want these two companies, albertson's and kroger's to be healthier. we are watching. the deal goes through? >> this is not an abstruse industry we don't understand. friends, families, colleagues, shop at walmart, costco, whole foods, trader joe's, they are

shopping in 99 ranch, grocery outlet, new seasons important. i believe the transaction, that should go through because it is what is best for america, grocery customers around the country. liz: good to see you. the kroger and albertsons deal coming on the heels of mergers and acquisition activities this year alone in the quest for data dominance, thomson reuters has been purchasing right and left, buying up a storm. acquisitions and artificial intelligence help the firm to beat the ubiquitous accessoriesmaker the bloomberg terminal. we have the ceo of thomson reuters next and from competition on wall street to the hardwood, march madness kicks off in 11 days. big moneymaker for schools and college players. kendrick perkins never got to play college ball because he

grew up so poor, raised by his grandparents, he was compelled to go straight from high school to the nba draft. 18 years old, kendrick was the 27th pick in the first round of the nba draft who went to the memphis grizzlies, got traded to the celtics, spent 8 seasons there, won an nba championship but never got to capitalize on name, image and likeness so now, he is helping from his position of having made it to the mecca of basketball, helping college basketball stars really figure out how to make money and save it. he's become an nbc sports analyst. you've got to listen to my newest podcast which apple, google, spotif emap, download the story, it is inspirational. take a look at the dow 30, the top of it, apple up 1.4% at the moment. it is in second position. these things move.

apple apparently is going to back off from its attack on epic games. the maker of the fortnight in sweden, this will allow them to stay in the apps store. we are coming back with more, don't go away. ♪(song in french)♪ (♪) (♪) (♪) (♪) book in the hotels.com app to find your perfect somewhere. (psst! psst!)

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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: breaking news. macy's is popping 3% after a report from actio's saying macy's could directly negotiate a sale with activist investor arc house and they can do that without a strategic review. they are prepared to raise its offer for macy's and the department store chain is reviewing their board nominees for possible inclusion. macy's at $20.98. merger's acquisitions 2024 is

off to a roaring start when it comes to global mergers and acquisitions. deals for the first week of march are up 55% compared to the same period in 2023. that's more than $600 of deals according to them. one company acquiring at a torrid pace, thomson reuters notching 6 deal since january 1st of last year. the information conglomerate closed its latest acquisition buying ee, invoicing, indirect tax solutions for $800 million. what is next? joining me, president ceo of thomson reuters, steve has kirk, what is making you so hungry for deals, will you continue at the same place you did last year? >> what we do at thomson reuters is basically serve

legal professionals, risky compliance and news professionals. what we are seeing is the complexity associated with complying with regulation, rules, internal edicts going up and up and up. it is becoming more complex to comply with rules and regulations and what we do is help other companies and advisers navigate that environment. we adopted a strategy of $100 billion over and above the run rate of r&d on generative ai products, partnered with microsoft as one of the first copilot partners and to your point we made a number of acquisitions, six acquisitions through last year. we spend $2.4 billion in total

but we are rigorous about those acquisitions. identifying them, making sure they fit and what we look for is companies that can add to the customer experience. secondly we look at deals that make money, not just the exiting homes and lastly, want to make sure the cultures fit. not to say we don't want to introduce new and innovative culture is here but make sure they come together. and produce better products going forward. we think those have met that criteria. we will have deals, we are rigorous and looking to make sure we apply that criteria to anything we are looking at. liz: not just swallowing everything in your path. anyone in the information business is looking at ai,

artificial intelligence has been such a driver. putting a recent launch of a new set of ai tools, tell us which divisions are really capitalizing on those tools, using them? >> the last 30 years, the internet, social, mobile, cloud, generative ai will be as big and as transformative over the last 30 years. with that in mind, looking for places to help lawyers automate routine, mundane tasks, looking to do the same for tax and accounting of professionals, government agencies and use professionals. we think over the next couple years each of those professions will be transformed fundamentally, particularly those tasks none of us want to do.

a bit of a grind that are repetitive and mundane. we will do them if the machines and models properly trained on correct information and if the professionals have a chance to check that and ensure that goes to a client, it is accurate and we've got an exciting role to play in that journey. liz: you sold your financial data firm part of the business a while ago so you are not a competitor anymore. bloomberg llp, as they are trying to do that kind of information, the legal world has exploded when it comes to opportunities, the strategy was helping not just your stock but shareholders in a different way, type your quarterly dividend.

you've got the cash coming in, how do you look forward beyond using it for acquisitions and dividends to put the cash to work? >> the first title is this increase in complexity of compliance. we are one of the few companies that has the content and ai driven technology that allow it to occur without adding extraordinary costs or extraordinary numbers of head count. secondly, generative ai is a tailwind that we think will transform the way professions are played. we can play a larger role in the success of our customers. with that in mind, we are investing through partnerships and acquisitions and in that cadence establish the start of last year much at gpt 4 came out and started to capture

people's imaginations and we continue on that. we want to make sure our way to innovation is fundamentally increasing as we go through this year. liz: data information, ai and the rest. we are coming right back, don't go away. we got up and running in no time. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card. make more of what's yours. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" bacon and eggs 25/7. you're darn right. solar stocks are up 20% with the additional hour in the day. [ clocks ticking ] i'm ruined. with the extra hour i'm thinking companywide power nap. let's put it to a vote. [ all snoring ] this is going to wreak havoc on overtime approvals. anything can change the world of work. from hr to payroll, adp designs forward-thinking solutions

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♪ liz: hey, focus, we are four minutes away from the from the closing bell to ring out the week. we need to show you marvell, not looking marvelous, sitting at the bottom of the nasdaq 100 after the chip maker said its a.i. surge was not enough to offset weakening demand in its wireless business. so you do have the stock down 11%. very close to session lows. but, you know, we're looking at every single chip stock that i have on my screens in the red. so after a big run, what are you going to do? marvell has been up about 107 over the past year. nasdaq and s&p, well, they were on their way to closing at new records. now not so much. everything's in the red. not by a lot. but the major indices are down slightly today. that will snap a 2-day win streak. for the week the markets just by this much are in the red. we do have the nasdaq among the bigger losers, down about 1%. the s&p down .2% for the week,

dow jones industrials down just under 1%. i will note the russell 2000 for the week up .3. joining me now, hudson valley investment advisers' ceo gus scacco, and you've got names that may be cheaper today, right? on a day like this as the markets are slightly off -- i wouldn't call this a big correction -- do you buy or wait for an even bigger fall is? >> there's no volatility in the market, i'd be a buyer here. if you're putting money to work, you might as well do it now. some of the names we talk about, they actually are marvelous. [laughter] if we were to talking about some names like chart industries which we had spoken about in the past, great growth name, and actually, it's trading at 12 times, but it's got growth going from $2 in earnings to 12. basically esg, which i don't like to talk about all that much, but if you looking at a transition fuel, it's lng. if you're with looking at carbon capture, they're in, and they're one of the main play players.

liz: ticker symbol gtls. >> we like it. liz: you love it, i know you do. clean energy in some cases is demanded at the moment. we saw that with ceg recently where they said we're just doing great. >> that's correct. but this is a transition. liz: lennar. >> housing used to be 10% new homes built by companies like this, it's now 15, and we're looking at a supply-demand of about 2 million homes that need to be built in order the meet demand right now. we think they're a great place to play, plus they have flexibility in terms of earnings, being able to offer lower mortgages, and they have land that's cheap. stuart: liz: you're ape aing warren buffett with american express. he recently said in his annual shareholder letter there are two names he will never sell,ing coca-cola and am-ex. >> they started an a.i. lab, four years ago -- and it actually helps reduce the amount of fraud. so that's just one aspect of a company using a.i., so that helps them, lowers head count.

and they're a perfect demographic. people that are 65 and older are now sitting on a trillion more in spendable assets. and they're the ones that we're looking at in term of am-ex. liz: we've got about 15 is seconds left. we're overdue for even a 5 correction. do you see it coming? >> a pause to refresh is not a bad thing, but we still see upside is. nvidia is basically the poster child for if a.i., but also people are talking about how expensive it is. market is a discounting mechanism. it's going to be trading at 32 times forward earnings. for a company that's grown at 75%, i'd be there all day. liz: interesting. gus, it's great to have you. ah, the bell closing out the week. and, folks, it's not the biggest loss here right now. minor losses. we'll see what happens next week. but propelled by a better than expected jobs number. it's interesting to see the red. ♪ ♪ larry: hello, folks, welcome t