>> that something he said on my show. >> i'm not going to buy it now. natalie you get a wish that you sold bitcoin mark my words. if i only sold my bitcoin i would had a lot of money. charles: have to give natalie the next word. >> we tried gold and it didn't work it was papered over the system has failed the american people in bitcoin provides hope for us, the working class, we want to work for something that has to be measured by a free market. so we can see real value emerge as exposed to being captured by politics and bureaucracy which ultimately is a system that benefits the few at the expense of everyone else. it's a system which the politically connected and special interest groups are at the top. we need a system for the people in bitcoin is for the people. charles: thank you very much. liz claman over to you.

liz: i was enjoying that. i like that. thank you very much. this might be a classic confirmation that it's not how the markets open it's how they close, as we kick off the final hour of trade, what were looking at is a completely different market than we seen at the opening bell. if you take a look at the dow jones industrial it got as high as 403 points. right now you can see it's down 233 points. the s&p same picture, we lost all the gains those gains were about 45 points to the upside now down 57 points. then the nasdaq the nasdaq was a little bit weaker, now it's deeper into the red at the low of the session down one and two thirds% 268 points with the dow and s&p, part of the problem to big stock stories with opposite pressures, these are at dow and

s&p components, goldman sachs is the big winner after posting far better than expected quarterly profits which rose 28% year-over-year the stock is up 2.8% to $400.63. the high of the session $412. we have come up. also beating rising 28% to 24-point to billion by a 32% increase. then you head down to the opposite direction, business software giant right now falling 6.8% on a wall street journal report listed advanced talks of data software companies prices the issue with the journal questioning salesforce a price that a pay. salesforce has a history of paying high premiums for acquisitions that sometimes do not integrate well and for monica is down 8.5%. as you see salesforce continues to climb the debts 6.8% but it's

arguably iran's unprecedented attack on israel over the weekend that holds the most sway over the markets. as the world waits on how israel will respond to the more than 300 missiles iran launched saturday night, that's what you're looking at, iran directly launching missiles right israel, the military chief of staff saying over an hour ago, there will be a response to iran's launch of so many missiles and drones toward israel's terr territory. you would look at crude prices to see the reaction. you can see right of the screen but were in the aftermarket session, brent the international benchmark spiked about 92 when the world was told that the attack was imminent. you can see right now were down a fraction of the aftermarket, brent had been down 1.5% earlier. again it's almost recovering all of the losses at $90.34. west texas intermediate is barely flat it's also down 1.5%

we have a $85.63, look at what crude for delivery on friday of the telegraphed attacked and touched $87 and change, you can see climbing back up there we will continue to watch that, bitcoin had a more pronounced move saturday night as more than 300 of the missiles and drones swarmed the skies over israel the crypto record job 8% falling below 62000. right now it's above it by $788. still down 6.5%. gold the behavior in the last couple of hours has been fascinating one of the classic safe havens marked multiple fresh records earlier today was not the investment of choice it was in the red but right now reversed and climbing nearly 1% as diplomats at market purchase up its weight on what happens next, you do not have to wait, coming up emerging markets will

join us live from the middle east. he is a right now he's been talking to investors on the ground in dubai and surrounding countries. he'll give us the pulse of what is going on there. bitcoin investor anthony will join us on how to read bitcoin next move it's difficult to read. so much of the markets tender depends on breaking developments in the middle east. that's why we are constantly watching the headlines on her computer and that lower ticker. if you look at airlines, united airlines coming off of the low john thune quarter% announcing this afternoon it coun canceledo tel aviv and tomorrow's flight to jordan, air france down a quarter of 8% and they said it all resume to tel aviv tomorrow, flights to tehran and beirut will remain canceled throughout thursday. the airline sector is one of many as the world asks whether iran's warming attack was one and done, perhaps the most

stunning and historic part of all of this comes from which countries help defend israel and will that redraw a diplomatic map in the region let's bring in one of the most respected israel and u.s. relations he was appointed by three presidents to the organization for security and conference in europe and worked tirelessly behind-the-scenes to bring about the historic abraham accords during the trip of administration. ceo and vice chair the presidents of major american jewish organizations. thank you for being here what you make of the breaking israel's military chief of staff says there will be a response. >> there has to be no country can allow its sovereignty to be challenged in this way and hundreds of missiles and drones regardless of their effectiveness penetrate or attempt to penetrate their borders and not respond if only the iranian government is not the iranian people's iranian government extremist regime has to know that it cannot act with

impunity. liz: looking at the skies early sunday saturday night and the u.s. millions of americans were glued to their television sets stunned about this but equally as stunning is who helped protect israel and intercept some of the missiles before they got to israeli airspace, this is besides the united states and the uk and france or whoever else was helping that would normally be an ally. were talking about jordan. >> saudi arabia. >> jordan grounded others flights of airspace would be free and ready but saudi arabia is perhaps one of the most stunning what does this say that the saudi's are publicly acknowledging on the house of saud website, this is a family website for the saudi's that they acknowledged helping a newly formed regional military coalition to down these before

they hit israel. >> the point you make is absolutely right it was publicly acknowledged this is not something the saudis normally do. we may see information and new regional configuration of cooperation beyond the headlines and beyond the public statements when you see the reality on the ground this is not something that could've just happened over the last 48 or 72 hours. this had to be in the works, israel's game changer in the fact that all of these countries are working together includes ball rain in the uae and others speed when they're done with iranians to correct. >> the bigger threat to them that is israel iran wants to destroy saudi arabia takeover and it wants to take over jordan and use as a base of operation, has no respect for any of these regimes. it wants its extremist ideology so it created a ring of the who houthi the palestinian islamic

jihad in syria and iraq. if you think it's circling israel israel can encircle and the fact that 80% of the people may be 90% and iran want this gone we have to help them it is time for the west to stand up to the terrorist regime that this is an all their proxies. liz: it sailed over the skies of jordan and saudi arabia that to me is significant and obviously were a business networking we watch the market, the dow has swung from 1400. game to a loss of children 72, the world is watching this and to see a stabilization effort which by the way there has been the belief that the reason hamas launched the slaughter on october 7 killing 1200 israeli civilians was because israel was about to normalize diplomatic relations with israel and they realize they would be completely shot out so they wreaked horrifying havoc.

how can the world as we are watching huge protest pro palestinian anti-israel protests down on wall street right now, these are life pictures coming in, that is wall street, they have completely taken over there and i believe we have a life picture of the golden gate bridge where pro-palestinians are facing off against the police and have shut down this major artery the golden gate bridge. >> this is not pro-palestinians it's pro-hamas there carrying out the worst outrages that we have seen in decades and the jewish people since a holocaust. this is not an intelligent move it's based on rhetoric and based on the internet and excitement of people be immobilized but against america this is not against israel. i understand the application for the business community it's rightly connected because they are undermining the american system and the market values and

israel is the easier target for them to go but as iran says it's the little devil in american is the great double major target for what iran wants to do. it's really imperative that we reeducate our young people and the truth into understand what it is when they say river to the sealer talking about the destruction of israel and the elimination of israel and you asked them what river and what see and they have no idea. liz: uneducated. we are watching this very closely and will let our viewers know the breaking developments. we appreciate what you're doing. thank you very much. to the markets, investors have to juggle three delegate plates the geopolitical unrest persistent inflation and the growing likelihood of higher for longer interest-rate. guess what strong retail sales out this morning reinforce the last notion, sales in march rose by seven tenths of 8% compared to 3 tons of 8% estimate how do

the prospects look for june interest-rate cut now, you can kind of forget about it. 21% although it's a little bit higher than it was this morning. july less than 50% chance of a cut about 47% at the moment, could hire for longer be a positive for some sectors habit a tailwind for the bank's financial names are populating the s&p 500 at this hour we told you about goldman sachs topping the dow it's in a position for the s&p 500. but take a look at admin t bank the number one spot after forecasting strong 2024 net interest income as rate cut bets continue to fall and mentee bank up 4% followed by schwab, schwab is looking pretty good if we can punch that up, it is gaining about 1.6% amid record client assets of new asset growth off the highs of the session and if today is any indicator, anything could happen this week but

earnings to have major power to move markets, we certainly have a flurry of reports coming at us. how should investors approach the market with so many balls in the air. united airlines tomorrow and bank of america not to mention netflix coming up to thursday, procter & gamble, snap-on tools, so many names let's get to the floor show kenny polcari in northwest mutual investment officer. if the vic's is any indicator, fear is what is driving the train right now with 12 minutes past the hour. were looking at the vic's of the moment up tenant quarter percent. it languished around 13 for months and we got it at 19. what does that tell you. >> it tells you that fear is building you have to look over the last couple of days from 14 to where it is today, it's had a significant move in that raises and speaks to the fear that it could be fear over the realization that rates are going

lower and fear on global unrest. it's fear over what is happening in the oil prices, fear of what's happening to inflation, it's not really cooling down, we've had three months of month over month gains in the cpi and ppi. therefore that's causing added fear about what the fed is going to do and could they possibly cut rates in this environment which i don't think they can and i've been saying all along there is no rate cut coming. the fact that some people are continuing to think that there is a june or july rate cut is illogical. liz: brent is right there with you on that. you don't see how the fed can cut rates, neither do i. we said that right here on the show with kenny and many of the other guests to come on and say june will see a rate cut in june. but now what do you personally see what would we see any cut at all this year? >> i agree i don't think we'll

see a rate cut at all, inflation is sticky, that showing up in the numbers and uc wages to elevated an unemployment and academy to high. the market has downside given the fact that a lot of this was on optimism of rate cuts which are being taken away. i think it's largely going to remain that way for some time in the bottom line that you opened with, the longer rates remained elevated the greater the risk of recession as the rates work their way into the economy which is happened gradually because academy is interest-rate sensitive this time. liz: what is asset allocation. >> this is not instant gratification we like the fixed income even though rates are going higher yet the upside and want to take about lock it in the rates. i do think once you get the recession, the fed will be able to cut rates and rates will come down. liz: fiber tenure, which part of the curve. >> more towards the benchmark 5 - 10 years so i would not hide in shorter-term i would have some there but people are

thinking too much about hiding in the near-term part of the curve and when the recession hits i think rates will fall rather dramatically at some point you're going to be scurrying to lock those in which i think will be hard to do. liz: we have 15 seconds because the breaking news you saw the opportunity on friday with the selloff of j.p. morgan did you buy? >> i'm buying j.p. morgan i did not to it on friday because after news comes out i let it trade for a day or two i want to see how it falls and see if there's a pushover afterwards. today i'm starting to look at it and i'll probably continue to do it. liz: it's even cheaper today. thank you so much. great to have you both, keeping an eye on the dow down to 63 you heard about cash for your trash how about crypto to pay your taxes widely followed crypto anthony probably auto saying action and bitcoin as americans pay their tax bill, he is up next line.

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liz: five days away from a potentially major mover that hits the crypto world once every four years bitcoin having event when the supply of new bitcoin gets chopped in half, happens on saturday the original digital coin continues to navigate the jaw-dropping 8% drop on saturday night when a swarm of iranian attack drones and missiles headed straight for israel right now bitcoin down $4300 and it stands at the moment at 62775. since friday bitcoin has fallen six and a third%. ethereum down 4.7%, litecoin got

hit the hardest it fell 9.91%. how will bitcoin grapple with the forces it faces including not just iran israel situation but tax season selling let's bring in crypto investor and longtime coin pop investment anthony pro. we know one thing about saturday night bitcoin offered 0 safe haven. it tanked i was watching it. how are people supposed to infer what bitcoin can be best for during times of trouble? >> this is a great story and something worth paying attention to but the story starts with gold at the end of last week gold hit an all-time high and i wrote a letter on friday to investors and i said is gold signaling that a major geopolitical event could be occurring in the next few days, saturday we get the attack, who is buying gold was iran buying

gold china, why was gold going up a couple days before. is this a country that believes there was severe central sanctions against the country so they wanted to protect the central-bank asset. but when the attacks actually occurred the coin did not drop. we can go back to 2020 and see why bitcoin dropped over the weekend. in 2020 during covid initial pandemic outbreak all asset prices fell in correlation went to one. it did not matter if you were in stocks, bonds, bitcoin or anything else everything dropped because investors were panicking they had fear naturally they want u.s. dollars in that situation. thankfully the stock market was closed on saturday and bitcoin was only market trading. what was happening people were scared, what are they do they sell liquid assets and want to raise dollars in order to be able to have those dollars and figure out what's going to happen. what i do think is important, if bitcoin leads on the way down in the panic moment it will also lead on the way up in the coming days and weeks after people get used to what is the current

situation they evaluated. and didn't realize that the underlying fundamental assets has not changed regardless of what's going on with geopolitical environment. liz: let's talk about the having event and the tax season. in a couple of days before aprie you paid your taxes if you owed that bitcoin goes down and people are selling to raise cash to pay the taxes. >> if you have a story value and you think it's going to continue to increase your purchasing power over time you are not going to put 1% of your assets in even though most people say as a financial advisor 1 - 3% is probably the right allocation for most people what we notice in bitcoin people do more whether they should or shouldn't. naturally if they need cash to pay the taxes they have to sell bitcoin or other financial instruments. bitcoin goes down and the end of this. actually money is the water of the analysis over the week and because you geopolitical event but you also had tax selling is what was not just one corporate was the culmination of a different things. liz: earlier today hong kong

regulators approved ether em bitcoin etf's. i thought china was absolutely not, they banned bitcoin minors who had to rush to cause extent and the surrounding regions, are they now giving a very silent nod of the head like it is okay. >> one of the interesting things about monetary policy and the fiat world monetary policy has changed according to the world. if the world is in panic it would change the monetary policy. if the world has too much liquidity and promo they would change monetary policy the monetary policy never changes. the world has to conform to bitcoin that's what you see happening china now, they did not like it because they thought it was a threat now they realize it's not going to go away so not have to come back and figure out how to get that into the hands of their citizens. liz: last time you were on the show in february you said bitcoin would hit 100,000 by 2025, are you still with that. >> after i said that people got upset and they said i was sandbagging and going to go much higher but also stick with 100,000 by 2025.

liz: we have a deal on the home and security solution sector that has one stock blaring positive sirens. plus emerging markets mark mobius is in the middle east. he's going to join us later in the show perfect guest for you guys, live from dubai to talk about the fast unfolding events in the region there are new breaking headlines. which market has a most potential to go from emerging to full-fledged developed and your portfolio. will ask him coming up. ♪

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liz: fox business alert for the get the markets in the red let's get the individual stock stories tech shares dropping 7% after morgan stanley downgraded the computer peripherals and accessories stock to underweight, in a list at morgan stanley say the market is mispricing the company's future growth algorithm, let us translate that, he doesn't see revenue rising as strongly as the company does, let's go to snap one they are surging about 30% after the provider of smart living products said it was going to be acquired by home automation company reads video technologies for $10.75 per share, right now the stock is trading at $10.58, the transaction is valued at 1.4 billion including net debt for the visit your technology down 3.6%, medical properties

trust is gaining right now, 18% after the real estate investment trust said it would sell the majority in five utah hospitals to a new joint venture that is valued at $886 million. fears of a wider middle east war increasing after iran's unprecedented attack which is an abject failure on israel over the weekend. what will that do to the emerging markets of the middle eastern nation and the entire region looking to diversify away from oil, we're going to take you live to dubai were indiana jones of emerging markets investing mark mobius is standing by to give us the real temperature of what's happening in the middle east. the market he is watching in the hottest country in the world in terms of temperature and investments. melissa rivers, the daughter of red carpet fashion expert in comedy icon joan rivers joins me

on my brand-new episode of everyone talks to liz podcast, she is the daughter of the comic but she is hilarious too, they say laughter is the best medicine. melissa was the brunt of her mother's jokes but she didn't mind she was lucky to have a front row seat to a winner in the world. her mom we discussed her signature humor and her career path and how she uses her mama's inspiration in her life and the number one question if jones career would've stood the test of time if she were to comic today in 2024 and the woke cancel culture world that many people are holding comics to, make sure to listen on apple, google, spotify, are iheartradio wherever you get your podcast i want to know what do you think. were coming back the dow was down 198, coming off the lows even more

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pentagon press secretary general pat writer told reporters at a briefing that the u.s. does not seek conflict with iran and it does not want to see more escalation to the middle east, the pentagon is focused on the defense of israel. the situation in the middle east has created a risk off investment environment with many flooding to the safety of the u.s. dollar sending currencies like the euro, the yen all over. it takes a dollar and 6 cents to buy a single euro. israel's currency the shekel jumped earlier amid hopes with the compact with iran can be avoided while they plunged in the aftermath of the october 7 hamas attacks it is sense reason 3.6% from the early october levels. as as tel aviv stock exchange, which you can see plummeted october in the wake of those attacks with such uncertainty swirling in the world around us

and then you can see the big recovery let's bring in mark mobius a voice of more than 30 years of experience in the emerging market space the market also joining us live from dubai right off the bat i would like to know the conversation happening on the ground in dubai considering the weekend events which were pretty worrisome. >> is really interesting during this weekend here at the dubai mall in the malls all over du dubai, 17 million visitors, many from all over the middle east. my feeling people are not really concerned about what was happening in israel in the war that's taking place there. in fact if you look at the stocks here, a big property company is up 32% since october of last year end the reason for that the property market is so hot with people from all over the region coming here to buy

apartments because they see a place that is relatively stable. liz: i think what you're i'm heg when there is an exalted nist international event that appears very worrisome and negative. it is often not reflected in certain markets or it is the perfect time to invest when there is so much fear let's broaden the conversation from dubai to the rest of the middle east. we know that saudi arabia has come out and acknowledged publicly that it is supported israel over the weekend and it was in part part of the group that helped knock down some of the missiles that were cruising over their airspace headed right for israel. does it look like once we have a bunch of arab nations siding with israel and want diplomatic normalcy that it may be a much better place to invest?

>> yes i think that is the case. if you look at the friendliness towards israel and many of these countries you realize they are interested in establishing the relationship with israel. saudi arabia is probably a good example as you mentioned. liz: let's talk about asia and shift to china. china is expected to show the gdp data tomorrow with forecast expecting gdp at 4.6% from january to march and while we would love that in the u.s. it is lower each and every time they come out with their gdp. as china on investable from where you stand? >> not really. if you look at the china market in the china index is up 14% since january. you're seeing some recovery. the reason for that the chinese government is doing its best to make the market attractive to

domestic investors. you must remember it's a domestic investors who drive the market. you see particularly government related companies doing very well like a company called cir c doing rolling stock and locomotive and that sort of thing it's doing pretty well. i think it's worth looking at china again. liz: were looking at a bunch of china etf that u.s. investors can invest in and they don't look healthy, franklins china down 9%, china etf down 20%. as we continue to look at what else is in asia, india, the last time you were here you said you really liked india. is this your favorite place to invest and we can cycle through some of the annual india moves for the etf's. >> i feel the india is an incredible place to invest. you know the index is up 24% since october of last year but

individual stocks have done incredibly well liked automotive is up ready 7% and others are doing so well and with him getting stronger i think he'll be able to move ahead to cut down on the indian bureaucracy. the indian bureaucracy is a real problem in investing in india and i believe will begin to do a lot of good work and not direction. i'm very bullish on india. liz: the i shares her looking unbelievable. the gains up 36%, 30% these are the etf's 28% focused on india these are easy ways for americans to feel a support way to invest can get exposure to india. you talk about modi as a leader you have a leader in argentina who has energized a lot of

people on the ground there but investors overseas many in america the leader millay tell me what you feel he is doing. they still have crazy inflation in argentina. >> basically he was elected on a very revolutionary incredible program to dollarized academy for example in to cut down on the bureaucracy and to do many things that other politicians were afraid to even think of or mention and i think the public voted him in because they realized they were at the end of the rope there was too much government bureaucracy and too much government corruption and he handed out a hope to the people and that's what's driven the market up 71% since march of last year. i think he is quite a leader. liz: they reported annual inflation of 288% on friday but it is slowing and he is

libertarian. let's bring it back to the middle east you are there and dubai. have you talked to any investors of any worth who were concerned about what is going on down there in israel and between iran and the surrounding countries who really don't like iran. >> a lot of people talk about it they read the news and they consider to talk about it. but at the end of the day they are really not involved they don't feel that it's a threat to them now so they keep on investing not only in the middle east of course but the u.s. market as you mentioned the dollar is king and a lot of them have dollar investments. investors here are quite sophisticated. they're very diversified around the world but there also investing here particularly in property. liz: it's good to see you, stay

safe, thank you so much from joining us live from dubai. >> thank you. liz: mark mobius. donald trump making history as the first former president to go to trial for criminal charges. this as true media and technology group stock djt is tumbling after announcing a massive new share issuance. what does this mean for the ceo legal bills, charlie breaks it next. we have the s&p down 63 points, that's worse than where we started, the nasdaq right now down to 87 and the dow is down to 56. charlie is up next. with your hearing, if you start having a little trouble, you're concerned that it's going to cost you money.

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♪. liz: jury selection in former president donald trump's hush-money trial underway in the southern district of manhattan right now. the social media stock, t.j. t, is tumbling down 18.1% at the moment, after the company announced it could sell millions of additional shares in the coming months which would be dilutive. djt shares have fallen more than 46% since their closing on the debut of march 26.

charlie gasparino on what move the short sellers make next. >> for the uninitiated here, when you sell more of a company's stock there is more out there, there is less of earnings per share to go around, thus it falls. i once heard a ceo, adam aron, amc, it is good dilution, good for the shareholder. there is no such thing as good dilution. it may help the company in the long run but the shareholder will suffer because of it. what we have lots of shares in circulation, even though donald trump hasn't sold his shares. this is secondary offering. we should point out the company in recent filing may have problems remaining an ongoing concern. there is lot of problems with this company. elon musk has a hard time making money on twitter, truth social with a fraction of the audience will have problems too. what comes next if you own the

stock? if you own the stock, you have to be prepared for this thing to be heavily, heavily shorted as of today. before today it was shorted, not as heavily because there weren't a lot of shares outstanding. to do a short sale you need to borrow shares, sell immediately. you replace the borrow later on when the shares theoretically decline, if they go up you lose money. there will be shares in circulation. i can tell you of the people, bob sloan at s-3 data, one of the best data providers on stuff like this, bob, told me point blank the cost of borrowing shares for donald trump for djt has gone down the last couple weeks more than 80%. liz: can you explain that? why? it is paying off now? >> because there is more shares in circulation. in the past you couldn't get it. now you can find the shares. in six months, probably, four 1/2 meant as of today, donald trump can sell his shares. the insiders can unload their shares that will be even more

pressure on the stock going down. liz: any word whether he will sell to raise some cash? >> i don't know. he hasn't said and i think, you know, what i know about him is that he probably doesn't want to hold on to a falling knife. so there will be some sale at some point and that could be a real problem for the stock. i think, if you're the, for, not just so much for him because you know, as of now he is locked in there. unless the board gives him special dispensation which is always possible he can't sell f you're a retail owner of the stock what are your near-term concerns? will the thing ever make money? can it survive as -- liz: three million in sales? >> it had a lot more losses than revenues. liz: of course. three million in sales. 46 million in losses. >> double digits. not a lot of revenues. the, so you have to it worry about the performance of this thing from a financial standpoint. the other thing is keep an eye

on the short interest, if that starts exploding. now short selling doesn't always lead to a stock declining but what shorts do as you know is that they short the stock. they tell everybody why they think it's not a great stock. often the stock downtown based on that information and then they cover their short, they have to buy shares in the market to repay the borrow, hopefully at a lower price for them. that will lead it to pop up again. so if you look at the price chart of like an amc and gm e over the years they were shorted it went up and down, up and down but generally the trajectory was down. that is what you should be looking at here if you want to hold this long term. this is a very problematic stock and extremely problematic company. liz: thank you, charlie, very much. closing bell, we're about four minutes away. markets in the red but off session lows to start the week. keep an eye on the dow barely holding on to gains for the

year. right now it is down 216. it has to lose 293 point. then it will turn negative. not that people who are long stocks want that, but s&p and nasdaq are on pace for their second losing session in a row. samsung electronics, the latest to be on the receiving end of the largess of the u.s. chips act which includes billions of dollars of subsidies to encourage domestic chip-making. the biden administration reached an agreement to provide up to $6.4 billion in direct funding to the south korean memory chip maker to build a chip-making facility in texas. look at everybody who has gotten money already. intel has gotten a bunch. micron, tmc. air own, texas, minnesota, ohio, new york, vermont. are chip-makers in the sweet spot no matter what happens to the rest of the mag-7 and the tech sector?

scott ladner manages 8 billion in assets under management. horizon ceo. what do you think with that sort of bump from u.s. government funds from the chips act, i don't know, it feels like there is huge momentum in one direction and that's up? >> liz, i think you stated it pretty well. anytime this much money is chasing a sector, already has a natural demand, we already know with the a.i. movement is second or third inning right now. massive amount of demand for chips globally. you pile on that with the government spending money hand over fist for the stuff, you set it up pretty well. it will be a bumpy road but the projection is upward. liz: looking at basket of these over the past year, it has jump 54%. like 2022 never happened. that was the year everything went down including n individual yow! which now is the biggest, the biggest move here. is there another sector you

think might have similar trajectories, maybe not as power if you recall as the chip sector, but who else do you look at at the moment? >> something that is probably as far as away from the chip sector as you can get is things like materials and energy right now. those are sectors that we actually like. for the first time in a little while. energy has for obvious convenience had some geopolitical hedge associated with it. you get a little more bang for your buck that way. materials is a sector we haven't liked for a while. margins have not been great. we had high inflation but high input costs coming in, companies had a hard time managing some of that. we're getting really strong global growth. pressure on commodities and that is, all of those, these companies are being managed a little bit better. we think the materials sector can be both a hedge toward inflation but benefiting from much stronger global growth, ex china rest of this year. liz: why do you think investors

need to stop worrying about what the fed does with interest rate unless you like small caps? >> we think the level of interest rates we're seeing right now is probably going to be around the level of interest rates we see for the remainder of this year. probably a little on the high side but not materially so. overall level of rates, something the market overall can get away with. we can digest this we've seen this in the mid 90s. handled rates like this just fine there is a segment of the market that cannot handle rate this is high and that's small caps. small caps got bludgeoned as rates went up. they started to rally as they thought rates would come down last year. so they need rates to come down for them to really start working again. [closing bell rings] liz: scott, thank you. as we close in the red, gold has totally turned around and now up 29 bucks. tomorrow billionairenv