their refund as fun money, splurging on things like vacation, clothes and other luxury. items. the other 80% have more practical ideas for their extra cash. over a quarter of people plan to put it into savings. 19% say that they'll use it to pay down debt. and round aring out the top five, the money will go to day to day expenses, the essentials followed by investing and home improvements. we'll be following this on "mornings with maria" 6-9 a.m. eastern weekdays right here on fox news, and i'll see you over on the fox news channel sunday on "sunday morning futures," live so is 0 a.m. eastern. i've got interviews with kentucky senator rand paul, john ratcliffe and gw law professor jonathan turley. join us hive on sunday, 10 a.m. that'll do do it for fox business. have a great next of the weekend, and and i'll see you next time.

♪ ♪ ♪ jack: welcome to barron's round table where we get behind the headlines to prepare you for the week ahead. i'm jack otter. coming up, investing in innovation, how ark ceo think wood is helping investors take advantage of the a.i. craze. then investors think that sports business is a sure bet. the industry's undergoing massive change minting new millionaires as billionaires bid up franchise values. how you can informs too. and later, a look at the complicated bidding war for paramount but we begin with our expert possible and three things investors ought to be thinking about right now. my colleagues ben levisohn, andrew bary and elizabeth o'brien. so, ben with, the market got really spooked this week by interest rates and inflation, but then even more serious concerns about geopolitics. >> that's right. we got our flakes reading, and it was hot. -- inflation

reading, and it was hot. that that wasn't good. we had two hot readings to start off the year, but this third one for march really seemed to say, okay, the economy's running hotter than it should be, the fed is not going to be able to cut rates the way the market had expected. by thursday the market seemed to be okay with that. it was only on friday that we actually had a very large loss. and that was really due to these geopolitical concerns. there were reports that iran is about to attack israel, and that sent the market kind of into a free paul with the dow jones falling 2.4%, its worst week since march of 2023. jack: when people get worried about the middle east, oil goes up but commodities in general have been on fire. even copper,s which is usually sending a positive economic signal, can you break that down for us? >> sure. part of this is that the economy when it's running hotter, that means that there is demand for things. and with copper or there's also been a lot of talk that it's going to be needed for a.i., so it's gone there if being kind of an ev play to an a.i. play, and

that's helped it too. but you throw in these joe yo political concerns, and that's really lifting oil, helping gold somewhat, and so the whole commodity complex has been rising. you've been seeing a lot of the commodity making, the stocks of the commodity makers going up, but that kind of ended at the end of this past week because when people get scared, they sell everything. jack: explain one more dynamic for us though. we were told that when inflation goes up, it reduces the value, the future value of the cash flows of these big tech companies. so they were a bad bent and cyclical stocks were the place to be in a higher interest rate environment. but big tech actually did well last week. >> yeah. and i think that's what is a misunderstanding of really how this works. the tech stocks that don't really have profits yet, they get hit hard by those higher rates. but for companies like apple, they're super high quality. they're going to make money regardless of the environment. and they also have a lot of cash. they don't have debt. and with these higher rates,

you're actually making something out of the cash, so they end up doing well. jack: all right. another important thing for investors is what's known as earning, elizabeth, and the earnings week, unofficially kicked off friday with bank earnings. tell us about that. >> yeah, that's right. bank earnings kicked off this past week with jpmorgan, citigroup and wells fargo reporting. earlier in the week ceo jamie dimon made headlines with his big, long letter the shareholders -- jack: very long. >> yeah. he said, you know, among other things that market apartments were a little too optimistic on prospects for a soft landing. he also said the bank was preparing for interest rates anywhere from 2% to 8% plus which is a heck of a range. now, when jpmorgan reported, it lowered its forecast on net interest income which is a key profit driver for banks and, of course, that didn't make the market happy. shares fell. and wells fargo, on the other hand, maintained its guidance for net interest income. citi group beat earnings estimates, you know, the

turn-around story connell -- continues. it's one of the best performing bank stocks of the year: and ceo jane frazier has been reorganizing things, and it seems hike that might be having an impact. jack: real estate was a concern on banks' commercial real estate not doing well, should we worry about that, or is that kind of a one-off in new york? >> yeah, well, commercial real estate is more of a factor for the regional banks, so investors will be certainly looking closely to them to see the health of their real estate portfolios. jack: andrew, as a frequent flyer on delta, every plane is packed. it's kind of annoying as a traveler, but it's probably good for the companies. >> yeah. delta kicked off the airline earnings season this past week with a good report for the first quarter and offered pretty strong guidance with a seasonally strong june quarter. delta's probably the best of the bunch in the airline sector, strong management, a decent balance sheet, a lucrative credit card relationship with american express and a segmentation strategy, getting people who can afford it to pay

more for convenience and other factors. you want to fly to europe this summer on economy, it costs you $,000 1 -- 1,000 the round trip. business class might be $s 3-5,000. jack: ouch. >> delta's betting on a return to corporate travel the customers, and that's positive for them. the negative had been higher fuel costs as well as labor. jack: historically airlines have been a lousy investment. i mean, they would have nice periods where they do okay, or but over the long term, not so good. do you like the stocks here? >> yeah, the stocks are quite cheap right now, among the lowest priced stocks in the entire stock market. take delta, for instance, it's trading for around 46 right now just around 7 times this year's estimated earning. and robbie shanker, the analyst at morgan stanley, this week said the stock the has actually doubled, he sees the potential for $9 a share of earnings in a couple years. united and american trade even cheaper, 4-5 times earnings, and something could happen in the

coming years is these companies hit profits and pay down debt, you could see more return of capital to shareholders, and that would be a positive. jack: still feels like a trade, not a long-term investment. >> they actually might be a long-term investment even though berkshire hathaway got involved a couple years act and then got out. they may not be trading sr. deans as much anymore, but it's going to be hard to win over investors. jack: technology isn't just powering the market higher, ark investments' cathie wood shares her insight on where the opportunities are and how she's helping individual investors get access to openai, next. there are. were you worried the wedding would be too much? nahhhh... (inner monologue) another destination wedding?? why can't they use my backyard!! with empower, we get all of our financial questions answered. so we don't have to worry.

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♪ jack: ark informs is known for focusing on innovative companies

and suffering the volatility that comes with that approach. the firm is out with its annual list of big ideas, quote, disrupting the norm, defining the future which includes themes such as around artificial as well as, electric vehicles and autonomous technology. joining me now is ark invest's ceo cathie wood. thanks so much for coming on the show. >> thank you, jack. very happy to be here. jack: so i'd like to start where a lot of these tech conversations start, with a.i. but your firm just announced that you're giving individual investors the opportunity to get a piece of openai which is still a private company new the ark venture fund -- through the ark venture fund. clearly, they're doing fascinating things, but sketch out the future for us. how does that company actually make money? >> oh, well, right now working with microsoft they're getting a revenue split of, you know, the millions of people who are using it on a day-to-day basis, and i

think they're partnered with the company, microsoft, which has a the best penetration of the enterprise sector in the world. so they definitely picked a good partner because i don't know about you, but i'm using, i'm using gpt all the time to help me write things faster and just become more productive generally. jack: could we get to the process through which you're giving investors access? something called ark venture, and it's a different structure than the mutual fund or the etf or even the closed-in fund a lot of people are used to. can you explain? >> sure. this is an interval fund, and it's owned both public and private companies. you are our aim is 80% private, 20% public. and we can have daily inflows but quarterly redemptions up to 5% of nav.

now, you made a very important point out the the outset. we have been looking for a way to democratize venture capital. how many of our clients say i don't make enough money or i don't have enough in the way of net worth to gain entry into venture capital funds. those are accredited investors. most people, the vast majority of people are not accredited. and so we're saying, oh, there's got to be a way. the interval fund was created actually in the '90s for this reason, for exposure to private equity -- jack: i gotta ask cathie wood about tesla. you are closely associated with that company. you're one of the most bullish e on it. your argument is you should value it as far more than an automobile company. can you explain? >> sure is. sure. we know that most of the analysts who follow it are auto analysts, but this is not an auto company. it's a robotics company.

an energy storage a company and an artificial if intelligence company. it's the also a manufacturer of factories. so it's a very big idea. autonomous taxi platforms combine those three technologies, autonomous taxis are robots. they will be electric, and they'll be powered by with a.i. those are three big ideas which are feeding each other and we with think will cause explosive growth and saws-like mar -- sas-like margins. so instead of gross margins in the teens where they are now, we could see them scaling to the 60-90% range -- 60-80% range. once tesla launches its robo taxi platform, and we believe this is one of the biggest opportunities in the innovation world today. jack: we just saw the chart of

tesla, very volatile companying obviously. even though it does have huge potential. >> right now we think a.i. is the biggest opportunity. tesla's the biggest a.i. project in the world. most of the names in our portfolio are there because they meet the four criteria in a.i. that we think will make a difference. heavy got deep domain expertise, they are taking a.i. seriously with their own hiring, and they're being aggressive, going for the opportunity. they have global distribution and most important they have proprietary data, data that no one else has. jon cc we could go on and on, but we do have to leave it there. your insights are always fascinating. thank you so much for coming on. >> thank you, jack, very much. jack: the sports business is booming. we'll take a look at how investors can get their head in the game and score some big opportunities next. ♪

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jack: from gambling to a paying college athletes, to the explosion in women's sports, the sports business is undergoing a massive transformation. leagues and teams are netting huge revenue from tv and streaming. sports betting and apparel sales. and there's an opportunity here for investors to score big. barron's editor at large joins the panel. if so, andy, i know all eyes are on a.i. these days, but at least in human business, i think the most interesting trend is what's going on in sports. of you are just back from the biggest conference in sports, what happened and so was the soup? >> there was a lot of crab meat in that soup, jack. [laughter] i'm glad you're asking about that. it was amazing. a lot of big names in the world of sports. it's such a sprawling business, trillion dollar business. you've got the teams, the leagues, broadcasting, apparel, merchandising and, yeah, it's

growing fast. you mentioned some of those facets of the business. gambling, for instance, 30 states now have that. americans wageredded $12billion last year. dingty -- 120 billion. digitization does things like an lit ec es, gaming as well as streaming. so that's driving the business as well. and that's helping to drive globalization. you know, a lot of businesses talking about how globalization is slowing down in this environment. not true at all for sports if you think about it. the big teams in europe like manchester united soccer team as well as teams like the new york yankees, the denver nuggets and, you know, all these big names increasingly have global footprints because social media's pushing out clips all around the world. jack: you mentioned nil, this name, image and likeness thing where if you're on instagram, you're a decent college athlete, you can make hundreds of thousands, in some cases millions of dollars. tell us about what that's doing. >> yeah. that's unfolding right now.

it's a little bit messy state by state. but if you're a women's college basketball player, you know, out there or, for instance, you know, a football player, there's a guy at the university of houston i think we have a picture of him, damian dunn, you know, working for a local ford dealer getting a few thousand bucks in his pocket. but, you know, the big names out there, bronny james, arch manning and caitlin clark, the superstar women's basketball player at the university of iowa, they are getting -- they have the value of $3-4 million a year annually from if advertising which is, of course, a sea change for amateur athletes. jack: sure. >> so caitlin clark trove this enormous viewership for the women's college basketball championships. but now that she's going pro, is that going to sustain itself, or is it going to go away? >> i mean, look, caitlin clark is a generational talent, but there are other players who are really exciting to watch. for example, south carolina's tessa johnson had a fantastic game. is she's only a freshman.

and u-conn's paige bueckers is staying at the school. so i think the momentum's going to continue. >> it's not just college basketball for women. the wnba's been doing great. world cup's been doing great. coco golf is reviving golf -- tennis, excuse me. [laughter] and there's a professional hockey league. and then the you have the professional women's soccer leagues, teams, and those are doing great. the valuesed to be a few million dollars not long ago, now $100 million teams. there's a transaction, ron burkle, a billionaire, sold i one for over $100 million. the l.a. team is probably going to be worth $180 that's for sale. and you have got these bold-faced names who own these teams, alexis ohanian, chelsea clinton, jenna bush, sheryl sandberg, i mean, every famous person, the pritzkers are in there, you know, just all across the board, they're in these teams. jack: so the bold-faced name, a

andrew, even the rest of us can get a little piece of the action in a few cases. tell us about that. >> well, there are two major public sports plays, the first is madison square garden spoiforts, and it owns the new york knicks and rangers, two of the best teams in the nba and nhl. stock trades around 180 right now. they valued the company around $4.5 billion. the teams though could be worth around $99 billion with the knicks alone worth $6 billion. why does it trade at such a discount? call it the dolan discount, the controlling family, jim dolan, the chair. they're viewed as being not willing to sell the teams or the company. so you have -- we've argued at barron's that the stock looks attractive at these levels because the company could sell an interest in one of the teams, and there could be some pressure if on them to do something in the coming years. the other one is the atlanta braves, the baseball team which is one with of the best franchises in baseball. fortunately, for investors, it's controlled by john malone, and

he's 83 now. and it's viewed that he may look to sell the braves in the next year. the stock's around 40, and he could get maybe $3 billion or more for the braves which would make a price of $50 or more for the team. jack: more billionaires than sports teams, so i suspect these values keep going up. thanks, andy. >> thanks, guys. jack: ben and elizabeth have a pair of actionable ideas, and andrew bary will break down the complicated bidding for paramount. stay right there oh, yeah, man. take it from your inner child. what you really need in life is some freakin' torque. what? the dodge hornet r/t... the totally torqued-out crossover.

jack: andrew, there's a messy and somewhat controversial situation happening over paramount. can you break it down for us? >> pararah a mount's been a tough media stock and a tough sector in the last few years,

the stock is at 11 right now down from 50, and now the controlling shareholder, which is national amusements, looks like it may want out of paramount. and it's been reported that it's negotiating a teal with a company called skydance which is a private company which is controlled by david ellison who's the son of oracle founder larry ellison. and under this potential deal, national amusements may be taken out, but the public shareholders will remain. and to make it even worse, the public -- paramount might actually buy this private media business from from ellison for a couple billion dollars or more and further dilute shareholders. so it's a messy situation. analyst rich greenfield has called it chaos and dysfunction at paramount. the directors seem to be controlled -- concerned about it. four of the seven are not going to stand for reelection, so it's a messy situation right now there. jack: i think we need a diagram. green fed is often right but

also negative on legacy -- >> yeah. and one thing that could be aping that's positive, if this deal falls apart, that's probably the best thing for paramount shareholders. jack: is there a bull case to be made for legacy media? >> the stock is very depressed, and you could have a takeover of the entire company. apollo, the private equity firm, is reportedly interested in buying the whole thing which could be a nice bump relative to where the stock is right now, so investors are probably hoping for that or maybe a turn-around in the business or better trends. jack: by the way, apollo is yet another part of that sports business we were talking about, josh harris buying the washington commanders. let's go to actionable ideas. ben, you've got one for us. >> i'm looking at bank of america, it's kind of the anti-jpmorgan. with jpmorgan dropping after earnings, i'm looking for bank of america which fell 2% because of jm mayor ban's number to get -- jpmorgan's number to get a bounce. the net interest income isn't going to be great, but i think there's just so much negative

sentiment that anything that looks slightly positive could give the stock a bump. jack: and, elizabeth, you've got some advice. >> this upcoming monday, april 15th, is the deadline to file your income tax returns. now, if you're not ready to do that, you can request an extension online. that'll give you until october 15th. you just have to remember that that is only an extension to file, it is not an an extension to pay. so if you think you will owe the irs money, you still have to pay it by monday. you'll is to do your best to estimate and pad your estimate to be on the conservative side because you e don't want to end up owing some penalties. jack: it's cheaper tan paying the penalty. >> exactly. jack: thanks, andrew, elizabeth and ben. to read more, check out this week's edition of baer ron's.comful you'll also get a longer interview with cathywood, don't forget to -- forget to follow us on x, and that's all fors us. we'll see you next