is -- metric for that, but this is real,ing live stuff. auto repossessions are through the roof. they would be higher if they could the find somebody to take the gig. let's face it, i it ain't for the faint of heart. behind me, a spike in retailer bond defaults. that will get wall street's attention. i suspect it's going to get a whole lot worse, and it's going to catch a lot of people off guard. that's why this rate cut talk, i think it's kind of weird, you know? if maybe they should, maybe they shouldn't, but i think the fed may actually be caught so far off a guard that by the time they do cut, if they wait, maybe it'll be 50 basis points. wall street loves when the fed is accommodative. it's free money. it's great for everyone out there, but the repo man will still be on the prowl. liz claman, over to you. liz: no such thing as free, we all know that. there's always a response. we're going to begin with breaking news, the national transportation safety board news

conference just ended with the ntsw giving us the very latest update on the francis scott is key bridge collapse in baltimore. this is still a search and rescue operation at this hour, our grady trimble is right there. he's about to join us live from the scene as we get him in camera position. it's only going to just take a couple of secondses here. let me goat you a quick market -- get you a quick market check. the dow is up 80 points after a 162-point loss yesterday. the s&p has recovered about 9 points of the 16-point drop yesterday. and right now we do have the nasdaq, the the big percentage mover here, up 45 points, just a quarter of a percent. the biggest movers, stock stars we're talking about of the day, the ipo of djt. this is the trump media and technology group. it is up, if we can show that, djt, it is skyrocket aring here, up 44% to $72.10. this is its trading debut. short sellers who bet against the stock are getting crushed.

charlie gasparino's working the story, he is coming up in just a bit. is and tesla is topping the nasdaq 100 right now. a couple of drivers on this 3.7% gain, it was much higher earlier. ceo elon musk says the ev leader will offer a u.s. customers a month-long free trial of its driver assist technology ors and here is another -- here's another driver, the strongest sales competitor, china's byd, saw an 18.6% rise in quarterly profit. it sounds great, but it happens to be the slowest since the first quarter of 2022. so investors see tesla as a beneficiary. all right, we need to take you now to baltimore. you are looking live at a picture of rescueerses still underway -- rescue operations for six missing people. there is apparently a silver lining, we have learned that the patient who was taken to the r. adams cowley shock center has been discharged after falling into the patapsco river and

suffering serious injuries. the francis scott key bridge collapsed after being hit by a container ship at 1:30 in the morning, and it actually was caught on camera at that very moment. it's just a horrifying scene. the ship had just left the port of baltimore when it slammed into the bridge which is a key roadway for commuters carrying an estimated 11.5 million vehicles annually. the francis scott key bridge was the second largest bridge in the baltimore metropolitan area and carried maryland route 695 between baltimore and -- [inaudible] maryland which is where grady trimble joins us right now live. grady, tell us what the late is. >> reporter: well, liz, the late is from the ntsb which is leading the investigation into what went wrong and, unfortunately, it's very early on in their investigation, so there's limited information they can share with us. but what they did tell us is

what they'll be looking for. they have structural engineers, bridge experts who are here on the scene. they're going to be looking at the safety records of this particular ship. they're going to look into the owner and operator which, as you know, is two companies, maersk chartered it and synergy maritime out of singapore is the open or or of this particular ship. so -- owner. they're looking into all of that. also at some point going to get onboard the ship and try to recover the data voice recorder which they say is going to be critical to help give some information into what went wrong and what led the bridge into -- rather, what led the ship into the bridge. but, of course, first and foremost is that search and rescue effort that is underway right now. six construction workers who were filling potholes on the bridge overnight still unaccounted for. here's the ntsb chair speak about that operation. >> what i can tell you is a search and rescue is still underway. so we are very hopeful and and, again, our thoughts are with the

families and their loved ones. >> reporter: okay, so in terms of the timeline, we know that there was a mayday from the ship reporting that they lost power. and the time between that mayday call and when the ship struck the bridge and caused the bridge to collapse, we know that officials on land were able to stop more traffic from going over the bridge, and all of the officials we've heard from including president biden today say that certainly saved lives. but when we asked officials including the head of the maryland department of transportation the whether there were cars on the bridge that may not have been stopped in time when the bridge collapsed, he said we don't know. so that gives you a sense of how dire the situation is. it's also dire, liz, for companies, of course, who use this integral port, one of the business e jest in the country, the port of baltimore, for autos. ford and general motors are coming up with contingency

plans, and even the cruise lines, royal caribbean having to adapt because officials say they don't know how long the port's going to be closed for. ships can't go in or out. they also don't know how long til vehicles are going to be able to travel over this bridge again. of course, that is not their focus right now. they're focusing on trying to find the people when who went into the water, and we'll keep you posted if we learn more, liz. liz: please do. grade city trimble, thank you so much. -- grady trimble. that bridge and the port close yours will have far-reaching implications on an already strain thed shipping supply chain. baltimore if not only is a huge hub for auto shipments, but it's the also the second busiest for coal exports in the u.s. let's bring in a shipping analyst at break wave advisers who's been covering the cargo shipping sector, here first on fox business. the potential for loss of life is heartbreaking here and that, of course, is first and

foremost. can you, with your trained eye and ec per if tease -- expertise, at least tell us what you think happened from what you have seen? >> well, i think t not unheard of for a ship to lose power. it's not something that happens often, but it's manager that from time to time can be something from -- from time to time you can see that. it's a combination of loss of power or a blackout and a loss of steering. so i think, like, it could be either or a combination of the two. the unfortunate thing is, obviously, it happened right at the wrong time, right before they have to go under the bridge. and that probably caused the collision. liz: obviously, again, as we say, the human toll is very is upsetting if, indeed, we start to hear of some bad outcomes here. but let's get to the 'em applications for the economy ant the consumer will see. this, as a i understand it, is a much busier port for consumer goods and autos versus softer goods and commodities, correct? >> yes, that is correct.

obviously, you have major ports like new jersey and new york being the biggest ones p if then you go down to baltimore and charleston. these are big ports for container ships as well as cars. so the initial impact on containers and cars will be that these imports have to be basically distributed to the other ports, find their way to new york or down to the south. so i think from that particular angle, it's not going to be a major impact. as it relates to cars and consumer goods. liz: except that you've got to figure that there are individual car companies that might be hit harder than others. which ones? >> so i think, as you said, ford is one. i think it has to do more with actual parts, auto parts, so you might see some delays in terms of distributing auto parts around the country, especially on the east coast. but i think, like, all of this is part of the logistical chain and can easily be managed. each company that has to manage their own logistical chain, of course.

liz: let's keep in mind, we don't want to diminish the point about commodities. coal is huge for this port, lng, suring. what else? >> assume numb. there are warehouses there that warehouse aluminum. it's not a major commodity, most peanut wouldn't feel the impact of that, but i think the call issue, about -- the coal issue, about 25% of exports go out of baltimore, so for the coal pucers, they have seen significant declines because of that. and that tells manager about the duration, people expect this to last longer than a few weeks. liz: today it is march 26th. >> yes. liz: when will the port of baltimore reopen? >> again, it's totally speculation, but i don't think it's the going to be weeks, it could be months. liz: months. >> yes. liz: maybe even the end of the year? >> well, i mean, again, it's something that you have to clear all the salvage there, you have to move out the big ship, right? and forget about rebuilding the

bridge which could take years and billions of dollars, but about opening the port, obviously, i think it's going to be months, maybe sometime in the fall. liz: let me just add add that president biden has a already spoken and said that the he expects and fully hopes at the federal government is going to spend the money to rebuild every part of that bridge. you know, you talk about the supply chain and the interruption withs it has seen not just with covid, but lately with the red sea, the suez canal, the fighting in the middle east to. we have drought in the panama canal, the fighting in ukraine. the russians attacking ukraine. will we see inflation move in the direction it's not supposed to, and that means higher? prices will continue to go higher because we add yet another snafu to the situation? >> so when you talk about shipping, there are two things that impact shipping. first of all, fuel, which is oil prices. and you've seen oil prices slowly moving higher. that has to do with the geopolitics but also a strong economy. so fuel is going higher x that

impacts the cost of freight. the second is all the distractions because of the suez canal, the red a sea, the panama canal because of draught. that's weather-related. and then, you know, you have the baltimore, maybe marginal, but around the world from time to time you have these issues that more and more afact if shipping. and i think people should -- affect shipping, and i think people should pay more attention to what's happening because, yes, shipping can drive inflation hire. it's important. liz: we saw how expensive it got during the lockdowns in the pandemic. i don't know, you have two funds, bdry and bwet, but they're more futures, correct? they haven't, as what i've seen, done well, it doesn't appear -- unless i'm missing something -- that there's a positive way of, i know it sounds horrible at this point as we still wait for six souls to be found, but profit off this or invest in it for our wiz audience? dis, business audience? >> boast -- both of these funds

are trading vehicles. bdry is up 100% in the last six months. will: are. liz: well, my bad. oh, it's bwet -- >> all these reflect the price of freight, it is important to follow because it is going to be about inflation. it give withs you an idea about growth as well because if china suddenly starts to grow fast, the price of freight will increase. liz: i see. >> and that will affect these funds. liz: john, i wish it were under better spanish, but thank you very much for your expertise. >> thank you very much for having me. liz: any new developments in the story, be assured we are going to bring them to you. in the meantime, the 48 pop in reddit on its first day of trade last week pared with the -- paired with the gain of 14.8% for the social community platform, it's gain rah right now. -- right now.

that's got investors piling into one -- [audio difficulty] euphoria for red difficult a sign of something maybe a little more insidious? the answer is next in our floor show. >>. stay tuned, we are coming right back. the dow jones industrials up 95 points. ♪ ♪ (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. you always got your mind on the green. not you. you! your business bank account with quickbooks money now earns 5% apy. (♪) that's how you business differently. intuit quickbooks.

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hi, i'm jason and i've lost 202 pounds on golo. so the first time i ever seen a golo advertisement, i said, "yeah, whatever. there's no way this works like this." and threw it to the side. a couple weeks later, i seen it again after getting not so pleasant news from my physician. i was 424 pounds, and my doctor was recommending weight loss surgery. to avoid the surgery, i had to make a change. so i decided to go with golo and it's changed my life. when i first started golo and taking release, my cravings, they went away. and i was so surprised. you feel that your body is working and functioning

the way it should be and you feel energized. golo has improved my life in so many ways. i'm able to stand and actually make dinner. i'm able to clean my house. i'm able to do just simple tasks that a lot of people call simple, but when you're extremely heavy they're not so simple. golo is real and when you take release and follow the plan, it works. liz: fox market market alert, the dow and the s&p continuing to recover from back to back losses. markets led higher by semiconductors and mega-cap tech. we've got the dow up 97 points, the s&p up 8 points, the nasdaq up 30, and the russell which is, you know, the only one that was up yesterday only 2 point, is gaining another 5. all right, pulling it off for the nasdaq to get a record close, we must see a gain of 44.35 points. the reason i'm saying .35 points

at the end of 44 is because earlier we were up 44 points. we need it to be up more than 44.35. all right, the semiconductors, they continue to sizzle. marvell and micron are among the nasdaq lead's at this hour along with tesla and, of course, crowdstrike, doordash. you've got marvel listen are j up 3.6% -- marvell up 3.6%. the dow, s&p and nasdaq are extending their gains for the month of march. and since the start of the year as well. lots of green here. so many wall street an lusts are hiking their -- analysts are hiking their s&p targets. coming up, our countdown closer has the highest call on the entire street but not our floor show guest. he's saying bubble, anyone? he's circle squared alternative investors ceo jeff sica. what do you mean? >> well, liz, if you look at where the technology sector is, we went from the magnificent seven to the fabulous four, pretty soon we'll be at the

terrific two. the technology sector has become this massive force, and if you look at it, i like to compare technology to commodities. right now the technology sector is eight times bigger than the commodity sector. so the commodity index. so you're talking about a massive force. but you're also looking at they account for 30% of the upside in the s&p 500. i mean, i'm in a lot of these technology stocks, but it seems like what we're seeing is this continued momentum. and the last time technology was this overpriced related to commodities was the bubble in 2000, and we know how that stor- liz: okay. and it was not pretty at all. >> no p. liz: it was a big bubble bursting, and it got all over everybody. it was not good. however, jeff, exactly what you're saying, i have heard most of it 8-10 months ago and had -- i listened or our viewers listened and got nervous, they

would have missed a big runup. >> right. and that's the thing about a bubbles, you don't know how long a bubble is going to inflate until if it bursts. so i'm not telling everybody to run for their, for cover. of i'm still in a lot of these stocks, but what i'm saying is, number one, don't chase them. it doesn't make sense to chase them if you're already in them. and, number two -- liz: meaning don't add to your position. >> yeah, don't add to your positions. number two, don't be afraid to hold some cash, and don't be afraid to look at other sectors. you know, people don't realize that there is a bigger world outside of these seven stocks or now four stocks ask and soon to be two stocks. you can look at some of that. liz: well, let me bring with up reddit. reddit debuted last week, and it has been quite the jugger naught. it's up, i don't know, 49% or something like that since its debut. you're pointing to reddit as a flashing signal of what? >> i would love to start a

company and lose money for 20 years, not make one penny and then go public. my company would be worth $8 billion. i as the ceo personally will make a billion. that's what reddit is. and if reddit, i go on reddit, i like all the free talk on reddit, on these social exchanges, and i understand why people do it. but if you're looking for a justification of my statement that we're in a bubble, it's reddit. they have no business to continue to be at this price with the business they have. liz: well, i'll tell you something, you know, with the market charging ahead and the economy still looking pretty good, we've got durable goods numbers for the month of february, and i always look at that a one component which is the core capital goods spending because that's an indication of business spending, it way outpaced the expectationful

durable goods were up a couple tenths of a percent better than expected overall, but the core capital goods gained .7%, beating the .1% estimate. and i look at that and i say, well, there is no way the fed is going to hike three times. i mean, you had rafael bostick just yesterday of the atlanta fed if saying one maybe. >> yeah. i mean, if you look at futures, if you look at futures, futures are showing us that there's still optimism that the fed is going to lower rates. i personally have a very hard time with that because consumern very hot. the employment market a has been very tight. so i don't see how they're going to justify it. but the markets are saying that they are. now, this week -- keep in mind, liz, last week we had a blackout, the fed couldn't speak, the speakers couldn't -- liz: now they're all talking. >> now they're all talking, so this week if they come out and

signal that there's going to be interest rate cuts, expect the market to focus on that. hu liz do not hold your breath, viewers. not that i am any fancy pants economist, but already if rafael bostick is sort of, you know, the lead rear here, he's saying only one cut. we shall see. jeff, it's good to see you. >> thank you, liz. liz: all right. krispy kreme's stock on track for a record percentage increase after striking a national partnership with about the most famous fast food chain out there. we are going to sink our teeth into the details next. we should take a look at the adviser shares restaurant etf, eatz. it's up 1% right now but, boy, has it whet investors' appetites over the past year, gaining 25.7%. "the claman countdown" is coming right back on a very busy tuesday. ♪ ♪ t. rowe price, we're letting curiosity light the way. asking smart questions about opportunities

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liz: we are just getting this headline, breaking news, more fallout9 from the if francis scott key bridge collapse in ballot missouri rail company csx has just come out with a warning for coal customers to expect potential delays on shipments. but csx does plan on keeping its curtis bay cold pier in baltimore open for now if. we are expecting to get another update on the tragedy at the bottom of the hour from the governor of maryland and transportation secretary pete buttigieg. we'll keep an eye out for it, take you there when it happens.

we do stress this is still, according to the ntsb, a search and rescuer operation. another fox business alert, and let's get to some individual stock stories. mccormack earnings spicing up the stock which not only is on track for its best day since march 28th of last year, but it is also the top leader on the s&p 500. the spice giant have, which also makes frank's red hot sauce and friend of. 's mustard, beat earnings estimates for the first quarter. mccormack says higher prices -- a ah, here it comes -- in its consumer division were what pushed the surprise sales increase of 3%. now, analysts had been looking for a 1% decline. but they also said volume dropped, uh-oh. so nonetheless, investors love the story that the stock is up nearly 10. from mccormick to mcdonald's, krispy kreme hitting a 2-year high, up 41% right now on a deal that will soon have its doughnuts available at a mcdonald's near

you. the company opinion if announced it's expanding its partnership with the burger chain to sell its doughnuts at locations a across the country. so for all of you who never had a krispy kreme fresh, hot, churned off the little assembly line in your town, mcdonald's will have it. mcdonald's has already been selling the doughnuts in select restaurants and says they will be available nationwide. you do have to wait a bit though, end of 2026. viking therapeutics might just be cheering that krispy kreme news. the biotech stock is up 658% over the past year adding 19.8% gains just today alone. viking says early stage data on its experimental obesity pill came in significantly ahead of expectations, and side effects were mild or just moderate. the pill could become a potential rival to eli lilly and novo nordisk in the race for an oral weight loss drug. we have more breaking news. independent presidential

candidate robert f. kennedy jr. has just announced his vice presidential candidate. s it is nicole shanahan. she is the ex-wife of google cofounder sergey brin. she also was behind the super pac that paid for that the controversial rfk throwback ad that air ad in the super bowl. she is a lawyer, she is a businesswoman, and we shall see, pretty interesting pick here. gutsy. we'll see what the reaction is in the polls at some point, i am quite sure. my sue hoe making a splash in the gambling sector, initiating coverage of penn entertainment, mgm and draftkings with buy recommendations. analysts say online sport betting is growing at a very fast clip. barstool sports' el presidente dave portnoy, he should know, his media company announced a new sports-betting partnership with draft kinks. dave portnoy join us next to talk about that, his boffo march madness bet on u-conn and more.

let's go to the dow 30 heat map just to give you a sense of where all these 30 stocks sand. we've got -- stand. we've got united health group, honeywell, disney, jpmorgan and intel. at the bottom, once again boeing along with 3m, nike, chevron, home depot and am amazon. dave portnoy comes to "the claman countdown" right after a quick break. ♪ ♪ things can transform. slipping out of balance into freefall. (the stock market is now down 23%). this is happening people. where there are so few certainties... (laughing) look around you. you deserve to know. as we navigate a future unknown. i'm glad i found stability amidst it all. gold. standing the test of time. ♪ ♪ next.

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liz: okay. well, in the commercial break the nasdaq turned negative, so did the s&p, but let's just call the s&p flat for the moment. the dow is still positive along with the russell 2000. okay, so if the super bowl is known as a huge point gainer for sports betting, march madness is a slam dunk. organized the american gaming association -- according to the american gaming association, legal betting on the men's and women's basketball tournaments, march madness, is expected to

hit $2.7 billion this season alone. and the world's largest online betting company is already ahead of the game. gambling group flutter entertainment projects u.s. earnings will more than triple this year as it continues to expand its american business. the fan duel parent says it expects u.s. sales to grow 36% year-over-year, and they are not the only ones eager to profit on college basketball. barstool sports founder and president dave portnoy has struck a multiyear sports betting partnership with draftkings. he's here in a fox business exclusive. dave, march madness, you made a crazy u-conn wet of $-- bet of $600,000. you think the men are going to take it all the way? >> yeah, crazy like a fox. [laughter] i do. i bet them at 4 to 1, basically, they're down to 2 to 1. i think they're far and away the best team in the tournament. i hope i'm right. my last three big bets have all cashed, so knock on wood, hopefully this hits too. liz: yeah, michigan football --

>> yeah. michigan football. i'm a michigan grad. liz: oh, exactly. so, dave, let's bring the women into this. u-conn women, obviously, with caitlin are clark, have been on an unbelievable run are. do you think they go all the way so it's a double u-conn men/women winner here? >> well, i've got to correct you, caitlin clark's on iowa -- liz: i'm sorry, iowa. my bad. >> u-conn has paige buckets, basically, and they're very good. they had a good game. but i'm rooting for iowa. they have a very tough road to go. i love caitlin clark, and she's kind of electrified not only myself, the entire country. i think i saw the final four tickets for women's actually sold faster than women because of caitlin clark, angel reese who's a story with lsu, their coach is a story at lsu, south carolina and dawn staley. so the big names, the big stars are all in women's this year. liz: well, you know, it's amazing to see the hype and the

increase in legal sports betting over march madness. and you, i am a sure, are just as excited to see that you're able to capture some of this. you are the official sports betting partner with fanduel. tell me though because i look at this, and we've covered this sector -- draftkings, rather. i'm batting a thousand here, sorry. [laughter] when i covered this sector, i look at this and i see that the actual customers is very fickle here. they're looking for the platform that offers the best bonus. what ideas a -- are you wringing to the -- bringing to the table that will make your with bet on that company do better than the rest? >> yeah. so i think that's a fair point. the gambler is smart. so if you get a better line, better bonus at a one company, you may have people switching back and forth. i mean, we look for unique ways to partner with draftkings and maybe offer things that normal companies or other companies, competitors can't do. for example, i was in arizona at

the arizona chi e quotes ' game the other night with a group called the ice people, and if they just bet the over. it's a community that can only really be found with draftkings, so that's one example. for our launch we did a live stream where people could go free money, basically, but it gets them in the ecosystem where we have to hit 42 straight free throw. so you try to come up with ideas that can't be with replicable with other companies. but to your point, you're always a going to have the sharks, the people that are like, oh, there's a half a point better here or there, and then it's who has the best app. i think draftkings has the best app in the game, so we're super happy to be partnering with them. liz: there's always the dark side of gambling, obviously. we know about gamblers anonymous, that's old as time, a story that has been well covered. now that it's so accessible, that becomes a part of the conversation. i'm less interested in that and the story the about ohtani and the dodgers and how his

interpreter has been busted for working with bookmakerrers. what do you make of that scandal? is it a tempest in a teapot? what do you think is really at the heart of what happened there? >> who knows? that's a wild story concern. liz: right. >> and the point about it being readily available, you know, it's like anything, i personally think you're better off legalizing it because people are betting before it was legalized, betting illegally with bookies, and it budget being regulated. what ohtani is doing or did or didn't do is madness. i mean, why somebody who makes that much money seemingly doesn't know what to do with it would ever be involved in a scandal like this, but at the same time how does his interpreter just steal the it, which is what they're saying now, if it ends up that he was gambling -- and i don't care if he's gambling in other sports, by the way. only if he's gambling on banal, it'll be one of the biggest stories in the history if not the biggest. liz: sure. this is still developing, but i'm just as perplexed as you

are. one of the things that we at "the claman countdown" love to focus on are entrepreneurs at heart, and that really is very much you. and i look at all of the things that you've done and started, not just barstool sports, but the pizza effort that you do where you do the pizza a taste tests at all these places around the nation. can you directly correlate, dave, your taste tests and your ratings with successes of some of these businesses who have gotten a high number from you? >> yeah. i would say i'm the number one food critic in the world -- [laughter] in terms of if i give a good review. and i said it sounds insane, how does this idiot become a topnotch food critic, but it really has. if we give a high score, 8 plus or something, it changes the trajectory of these pizza places. i'm pretty strict, but, yeah, the places that have got gigantic scores, i think they'll tell you their lives and

businesses have been changed for the better forever. so it's a lot of responsibility. with great power comes great responsibility -- liz: oh, yes, spidey, i know. [laughter] you've got to try brooklyn's pizzeria a in hackensack, new jersey. that is the best, in my opinion. you've got a frozen pizza business yourself. are you planning on having more businesses sprout up from your ideas? >> yeah. it's -- so we're not always the most well thought out group. it's always organic, but we launched a pizza a festival. it was the first year we did it last year, we had 5,000 people in basically a hurricane in brooklyn at a baseball stadium. [laughter] but it, to this day, was the best pizza event in the history of the world. we had everything, sally's, pep if e's, places that you were going to say you can't get all these pizza is places under one roof. we did it, and we'll be coming back for year two, again, in the fall. liz: it's almost like -- and i don't want to sit here and fan girl, but you've got this midas touch that even extends to your

dog. you got a rescue dog. you named her miss peaches, and you got m if erch, sold it -- merch, and you are donating the money that a you've made so far to an animal charity de. how -- is it really, is it $500,000 still? is that the latest number we have, or is it more now? >> yeah. no, that's as of today. so we've sold a lot are, and the profit's 500 grand, all now going to different charities. i believe, i don't know if i'm allowed to say it, but i'm going to say it anyways, i believe may 20th the mayor of miami is going to dedicate may 20th at miss peaches' day. she's going to get the bone to the city. she's more famous than i am and and rightfully so. liz: dave, you ever thought of taking your entire operation public? >> well, when we were owned by penn, it was sort of a public

company. liz: uh, yeah. >> i thought about it, but i hate being public because then you've got every joe, tom, dick and harry who can tell me what to do, and i'd rather then stay out of my business. liz: and i get it. and finally, hockey. i know that you guys have some big hockey coverage on barstool sports. i'm a hockey fan i know it's early, we don't even know what's happening, but give me a sense of how you feel about the new rule changes that have come in the past year and a half, if they speed up the game, they get more people interested in hockey. >> i think hockey's better than it's ever been. it's more high scoring, goals, goals, goals. so i think it's been good for the game. it's still one of those sports you try to make it viewer-friendly, but the it's really built for in person. but i think hockey's stronger than ever right now. liz: yeah. when fox had hockey, we had the glow puck -- >> yeah, which was phrase crazy. they had the lightning puck, it was nuts. [laughter] liz: dave, good to see you. good luck with all your

businesses and endeavors. >> thank you. i appreciate it. liz: dave portnoy of barstool the sports. the dow is just is about to turn negative a second ago. the nasdaq is in the red. the s&p in thed are red but over the past year, nuts. double-digit percentage gains for all the major indices and strategists have been fallening over -- falling over each other to up their price targets on the s&p. oppenheimer is the one with the desperate high of 5500. we've got the guy making the call. that's next. ♪ ♪ so, my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to.

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♪. liz: we want to catch you up to date of breaking news. you're looking at a live picture of transportation secretary pete buttigieg along with maryland governor west moore. both are speaking about the bridge collapse in baltimore. we also have maryland senator ben cardin there holding that news conference. frances scott key bridge collapsed overnight in baltimore. mr. buttigieg said quote, this is no ordinary bridge. it is one of the cathedrals of infrastructure. the bridge was built in 1972, construction. it opened march of 77.

because it is so old, so huge, secretary buttigieg it will take a long time to rebuild. it again it is still a search and rescue situation right now. six people missing. construction workers who were filling potholes on the bridge when a container ship bashed into the bridge. we still don't know what caused that. the dot is ready to approve emergency funding. as we promised we'll keep interrupting to give you the latest news. a quick check of the duh. it turned negative along with the s&p and nasdaq. get to shares of former president donald trump's newly public truth social skyrocketing on its first day of trading on the nasdaq. right now it's off the highs of the session, still up about 20%. the way the stock has been trading has wall street reminiscing about the 2021 meme stock craze according to charlie gasparino. charlie? >> every trader, every major investor i speak to say be very careful with this. we have to talk about the meme stock craze for just a moment

before we get into this and that's because if you look at a chart of amc it is down 99% from its highs. they did a reverse split 10 for one. it says four dollars on your screen. it is really 40 cents. that is where that meme stock, bby, bed, bath & beyond? out of business. gamestop is still around but it's probably 25% down year-to-date. this is interesting because it follows that same pattern. there is really no profits here to this company. its user base is a fraction of twitter. it is literally blowing up because of the name donald trump. now maybe trump can make it profitable. he hasn't been able to do that so far but if you were to going to do a price earnings ratio on a stock, i can't do it in my head -- liz: called an na, not available, applicable. >> you would see there is no -- liz: a lot of companies, charlie, look, reddit just went

public, no profit. >> that doesn't mean it will stay at its stock price. liz: exactly. >> where it is. liz: true. >> i think you have to be careful if you're the average investor there is a lot of stuff that can cause this stock to go essentially in half, like amc's did and gamestop has blown up and all that. liz: more than $60 million lost to the short he willers that bet against it today on opening day. >> today. maybe not tomorrow paper losses. >> they said about amc when it became the best short over the last two or three years. be very careful. there will be a lot of short selling in this. the fundamentals are bad. donald trump needs to raise $200 million, 175, to pay the new york judgment, if he starts dumping these shares this stock will go down. it is not going to go down because he is dumping it. if he is dumping, 23 he doesn't like holding on to this why

should i? be very careful here. i will say one other thing knowing donald trump. i can't imagine, just knowing him, i'm not say he has spoken to me about this because he hasn't, i can't imagine him holding on to these shares. there is a six-month lockup. he can't sell for six months, unless the board allows him to, gives him special dispensation. but he can only sell in dribs and drabs, because of the security laws. six months, do you really think he will hold on to this stuff and keep five billion dollars hanging around in paper wealth when this guy always needs cash? i mean, this is something that if you're a small investor, you want want to play around in this, you think you will get rich of this, nobody got rich off amc, nobody got rich off bby, as a matter of fact the people that stayed in the stock and held got very poor. be careful on this one.

liz: charlie gasparino. >> don't say i didn't tell you. liz: ticker symbol djt. we'll continue to watch it. we had a number of wall street strategists come here on here on "claman countdown," to give us year end price targets. we say 5300. our bull case, goldilocks case, 5500. our "countdown closer" is highest on the street for a pure play 5500 target for the index. he has the sectors he believes help the broader market index hit the bull's-eye. joining us oppenheimer chief investment strategist. john, what drove you to go to 5500 knowing trees don't grow to the sky? >> tell you what, liz. thanks for being having me on the show. liz: my pleasure. >> we were last year looking for 5200. we're looking for 13% upside for this year and all of sudden the

market took off in the first quarter. our discipline we don't raise the target until the market closes at or above our price target. liz: okay. >> when it hit 5200 two days in a row, i had to address it. we raised our target it is about 5% from where the market closed today, up higher. it is relatively a modest ratcheting. we think the fed has been doing the right thing. the consumer, while they're slowing in their buying, le's take a look see what happens when they report sentiment this week. they may still be cautious about inflation so they will be cautious but we think they will come around because people get used to inflation as it comes down, as it is ratcheted down by the fed. the fed has done that. business, two great earnings seasons q3, q4, good for technology, good for industrials, good for consumer deschrisry. it is extraordinary. there was eight, eight sectors with positive earnings growth in the fourth quarter.

there were only four with negative earnings growth and they were really defensive stocks mostly, defensive and you also had energy and materials which had had year-over-year, it made sense their earnings were down. liz: so we have nine months left in the year to go, about another 5% as you say. my question may have already been answered, what would get you to alter 5500 to 5600 because you say you don't do that until it closes at your next price target, 5500? am i correct on that? >> very right and so this would be what we'd have to see is a continuation of positive earnings growth. liz: okay. >> continuation of positive revenue growth. and the fed doing the right thing. the fed not getting too eager to pull the trigger on rate cuts, at the same time, still remaining watchful on inflation. liz: so you believe, i.t., information technology, consumer discretionary will get us there. >> yeah. liz: what are you avoiding, john? you're a bull here but you got to be dodging something?

>> we're cautious about is the real estate is a sector call we're concerned about because within it you have the big city towers, office towers that have plenty of trouble. in addition to that related to the utility sector, that was curiously only the defensive sector that had double-digit earnings growth in the fourth quarter, but the problem with that, the market treats it as a bond proxy, when the fed is still in hike mode where it could raise possibly, where it hasn't gotten out of this. rates still at 45.25, five 1/2 fed funds -- 5.20, five 1/2 he benchmark. liz: i want you back at the end of the year. [closing bell rings] markets closing at session lows. not too much of a loss here. tomorrow we have blackrock chairman larry fink live. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. so trump media