some evs in there. trucks, 39 miles a gallon? only in 2010 those numbers were 27 and 24% respectively. the american public's going to pay a huge price for this one day and realize what i i think e the white house her knows, in the immortal words of dj dj cal eleven, president biden is plague being himself. unfortunately, he's plaid all of us, because we're going to be forced to buy these evs directly or indirectly from china, buy the materials like graphite, we can't have an ev without that, they've got 995% of it. 95% of it. millions of people in the fossil fuel if industry without a job, who knows. ashley webster's got your back for the next hour, he's in for liz claman. ashley: thank you very much, charles. great stuff, as always. good afternoon, everyone. indeed, i'm ashley webster. welcome to the most important hour of trade. it's the last hour.

actually, 59 minutes left in the session, and the nasdaq is on record watch. the tech-heavy index must if finish up more than just about 54 points, 53.96 to be exact, to notch that record level. right now, as a you can see, up 1 is19 points --is19 points. so far, so good. we're going to keep a close eye and bring you updates throughout the hour. the dow and s&p 500, well, they've been straddling the flatline all day, but right now both in the green after this morning's producer price index showed hotter than expected inflation on a month if over month basis. inflation was, however, basically in line with expectations. year-over-year. in response to the report, federal reserve chair jerome powell said, well, given the data the fed's next move would unlinely be a hike. good with for the -- unlike hi. in fact, he indicated that the current policy rate could last longer. but, of course, investors waiting for more clarity on

interest rates. they will see tomorrow what april's consumer price index tells us. an analysts expecting consumer prices to rise 3.4% year-over-year compared with 3.5% in march. one company feeling the pain from high interest rates, home depot, by the way. the stock poppe iflating the dow loser board -- populating. you can see basically unchanged. came back a little later in the session, but it did miss on revenue. the home improvement retailer says customers basically deferring major home projects because of the interest rate environment. home depot though seeing additional pressures from low housing turnover, we know that, also tied to interest rates. so how else could a higher for longer landscape impact great american companies as well as your portfolio? because it looks like we're going to be stuck with it for a while. let's get right to our floor show with lead portfolio strategist jack genesee which,

jack, great to see you. obviously, all eyes tomorrow on the cpi. what are you expecting? i guess if it comes in hotter than expected, then that's probably going to hurt the markets, right? >> yeah, and i think that's a going to be the key determinant here for market direction, the cpi print tomorrow and then fast forward you can look out to the nvidia earning a week from tomorrow. but in the interim are, you know, if you get something in line with what the market's expecting which is .3 of 1%, in line or softer than that, i think that'll put the market on good footing, and i wouldn't be surprised if we continue to grind higher on the back of that. ashley: jack, it's interesting, you say it wasn't for shelter, medical care can costs and auto insurance, the actual inflation rate, you take those out, it's pretty close to the fed's 2% goal. but, of course, the fed can do nothing to stop inflation in those areas, right? >> and that's the key thing to think about here, right?

a lot of people are concerned about the stickiness of inflation in those three individual items that you just highlighted. those really aren't demand-driven issues that we're talking about. so if the fed is going to try to really work with through some of that is sick keyness via -- stickiness via with increasing rates further, you're not going to see much collateral damage to the economy. it probably shows up in the labor market, and that is something the fed is loathe to do given they have the dual mandate of full employment and price stability. right now they're trying the buy time, and i think that's the higher for longer man rah that that they're sticking with -- mantra. ashley: the markets have performed pretty well, you say the rate level is not really as important as how much risk appetite is out there. that's my question, is there appetite ferries aring? >> if you look -- for risk. >> i think there is room for risk to be added in here. why is that? we still have relatively strong growth, and more importantly, you know, that modest inflation

as long as it's heading in the right direction and maybe going to that a 2% target a little slower than some people would like, that gives a little pricing power to corporate america. when we tart to think about what drives the equity market and risk appetite, it's the earnings psych. and that's modest -- cycle. that's modest growth and inflation heading down, that puts the backdrop together for a sweet spot, and that's e what's driving the market. ashley: just very quickly before we have to go, jack, what about the consumer? we were led to believe that credit card debt was starting to part-time, delinquencies on mortgages were showing an upward shift. how would you describe the state the to have the consumer right now? >> yeah, it's a very segmented market, i think. and you're seeing signs of that from some of the announcements that we're hearing here as we wrap up first quarter earnings from companies like mcdonald's, yum brands, starbucks, you know in certainly, you've seen evidence of a more discerning consumer, and i think some of the portions

that we're seeing a little bit of that stress is the lower income band of the consumer, so to speak. and what's interesting though, while certainly it's not something we like to see the pinch happen for that lower income bucket, but the key here when you look at aggregate total consumption, it's really a small portion of the big pie. yes, the smaller -- the lower income buckets are being pinched a little bit here, but a bigger driver is still the upper income bands, and those are still relatively healthy. ashley: very good. we'll leave are it there. actually, on an optimistic note, i would say. jack, thank you so much. appreciate your time this afternoon. okay, let's move on here. for more on the investment landscape ask, let's get right to the the steeple's ceo. great to have you here, sir. you're live in las vegas, you lucky e devil, where steeple is currently hosting its blueprint conference. if you're going to hold a conference, i guess that's the place to do it. steeple, by the way, the seventh

largest retail brokerage in the country, so i guess, ron, my first question is, how's business right now? >> you know, business has been very good. wealth management, i just talked this morning, we celebrated like our 25th consecutive year of record revenue. business is good. and here at blueprint we're talking about a.i., we're talking about the economy, we're talking about interest rates. and and so our clients are engaged and business is good, and our institutional business is picking up. ashley: so talking about interest rates, we're also data-dependent on inflation. tomorrow we get the cpi, but as i just said to jack in the last interview, you know, we've done pretty well at this higher level. even if the fed decides we're not going to cut this year, it seems like the economy expect if markets in particular continue to hum along. >> well, absolutely. first of all, you know, i'm going to stay at stif if el

we've been saying we never if thought there would be seven rate cuts. i said in january that there might be two, and today i'm going to say that there aren't going to be the my because inflation is going to be -- any if because inflation is going to be more sticky than people think. core pce is going to be around 3%, and the fed's not going to be cutting into this environment. that said, look, in the history of time interest rates aren't that high. we just got so used to zero rate interest, you know, a zero-bound interest rate, we we forget that a 10-year at 4.55, that's normal. and this economy's doing just fine. ashley: yeah. people got used to cheap a money for a long, long time, and it's still -- >> too long. ashley: -- relatively cheap when you look at history. too long, yeah. many people would agree with that. you mentioned a.i. earlier, ron. i mean, look, it's the buzzword. it seems like every day we talk about new products coming out. is that what you're hearing from

your clients, they want a piece of the action in. >> they not only want a piece of the action, but a lot of our advisers at stif if el and our clients, they want to know how a.i. can make them more product we've. it's like the personal computer, you know, in 1981. it's a new tool. it's going to make people are tremendously more product if bi. i'm always, you know, amused a little bit about a people saying they're going to use a.i. to only work three days a week. you know, here at stifel we're talking about using a.i. to get two weeks' of work done in one week because we've got to serve clients here. it's a hot topic, and not only from mistaking us more priskt, but -- making us more productive, but what a place to invest. our clients want to talk about a.i. ashley: you know what's interesting, rob, is certainly9 with the with capital markets there's been so much cash on the sidelines. people kind of just waiting. i'm not sure for what. and as you see the market going up and up, they have a hard time

jump ising n. are you seeing more people putting cash to work? >> you know, we do. but let me throw a little cautionary message here, okay? ashley: yeah. >> and that is that the market has been continuing to have a million reasons that we need to cut rates to have a soft landing and whatever. i have to tell you that as i look at the market today and for the next few months, i see downside. i actually think we're going to get a correction in this market because it is going to dawn in the market that we are not, we are not specificallied out, that interest rates will stay higher for longer and that the market will rerate to that. this market has still been thinking that we'll get 2-3 rate cuts this year. that's not going to happen. and when it come to that realization -- it might be tomorrow when you see where cpi comes in. ashley: right. >> but our belief is that today the market is pretty fully valued for these economics. we actually see a little risk to the downside.

ash it's funny you should say that, ron, we've had a number of guests say, look, these markets are frothy, and and a correction, whether it be 5 or 10%, is actually not a bad thing. and from what i hear from you, you agree with that. >> well, i do agree with that, but i also think it's the an opportunity to buy some great stocks. markets just don't go straight up. you have to look at a what the consensus sentiment in, and the consensus has been the rates are not -- are going to be cut. and when it figures out it's not, you're going to have an opportunity to have some great companies at a little bit better valuation hand we're seeing today. ashley: a very good. enjoy your time in vegas -- >> you know -- ashley: ron, thank you so much -- yeah. >> it's great to be here. nice 100 degrees here in vegas -- [laughter] we're having a good time. thanks for having me on the show, all right? ashley: it's our absolute pleasure and enjoy the air-conditioning. ron kruszewski, thank you so much.

to recap, by the way with, april's producer price index came in hotter than expected month over month, but federal reserve chair jerome powell said the fed's next move is not likely to be a hike. meantime, investors waiting, of course, for tomorrow's consumer price index report for more clues on the fed's path forward, and dow component home depot reveal ised a sales miss in its earnings report this morning and said it is feeling the pain of higher interest rates. ♪ ashley: there's your recap. president biden slapping tariffs on $18 billion worth of chinese imports including 100% tax on electric vehicles. former president trump weighing in on that as well. tesla revving up on the news, up 3. how about that? "the claman countdown" is coming right back. ♪ ♪

tamra, izzy, and emma... they respond to emails with phone calls... and they don't 'circle back', they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety-clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy, and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria.

visit indeed.com/hire and get started today. moving forward with node-positive breast cancer. my fear of recurrence could've held me back. but i'm staying focused. and doing more to prevent recurrence. verzenio is specifically for hr-positive, her2-negative, node-positive early breast cancer with a high chance of returning, as determined by your doctor when added to hormone therapy. verzenio reduces the risk of recurrence versus hormone therapy alone. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an antidiarrheal, and drink fluids.

before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain and rapid breathing or heart rate, or if you are nursing, pregnant, or plan to be. i'm focusing on what counts. talk to your doctor about reducing your risk. ♪

the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free. now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income are federally tax-free and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217.

ashley: chinese ev makers including zika which went public just friday all modestly longer -- lower. down anywhere from half a percent to 5.5%. the president, by the way, announcing a tariff increase on on $18 billion worth of imports from china including hiking the rate on evs to 100% this year. biden says the tariffs are to protect american workers and businesses. edward lawrence live at the white house this around -- this afternoon with the reaction to all of this. >> reporter: yeah, ashley. and through that $18 billion in chinese goods that are going under tariff, president biden believes that he's protecting american workers. listen to this. >> the fact is american workers are, can outwork and outcompete

anyone as long as the competition is fair. but for too long it hasn't been fair. for years the chinese government has poured state money into chinese companies across a whole range of industries, steel and aluminum, semiconductors, electric vehicle shes, solar panels. the industries of the future p. and even critical health equipment. >> reporter: is so here's what's been imposed, 100% tariff on electric vehicles, 25 on ev batteries this year and non-ev batteries starting in 2026, 50% on solar cells in 2024 and semiconductors in 2025. 25% on steel and aluminum tariffs, anywhere from 25-50 pimpt -- 25-50% on certain medical supplies. 25% on ship to shore cranes. now, the president making the point that he wants the u.s. to dominate the ev market. >> i want to the make this clear not withstanding what the other

guy's saying, they can buy any kind of car they want whether it's gas request, electric or hybrid. but we're never going to allow china to unfairly control the market for these cars, period. >> reporter: so former president trump who used tariffs to get the chinese to agree to a phase one trade deal says these tariffs don't go far enough. >> the chinese are eating our lunch right now, and they went away from what i was doing. they're eating our lunch. so they have to do it on much more than electric vehicles, and they have to get going fast. but it should have been done three and a half years ago. >> reporter: the chinese say these tariffs amount to bullying and unfair trade practices. ashley? ashley: all right. interesting stuff, edward. thank you very much. all right, let's get to some football/soccer. former barcelona defender or gerard pique playing game of throwns -- throneses ahead of

the league's world cup which will be played in mexico at the end of the month. soccer superstars are involved. we're going to kick it around with him when we come back. ♪ 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.

marcus: kaleb is my best friend. he's a fireball, full of energy all day, every day. [laughter] when we came to st. jude, it really put us at ease a lot. everyone is caring. everyone is loving here. and they're trying to save people's lives all over the world. so everything that you donated is being used. very grateful for everyone that helped out. [music playing]

♪ ashley: we are a month away from the 2024 european if soccer championships kicking off in germany, but ahead of that there's a different kind of championship about to happen.

it's the first ever king's league world cup to be hosted in mexico. of it's been formed by renowned spanish soccer star gerard pique back in 2023, just last year. the kings league is a unique twist on the world's most popular sport. the match features seven players on each side rather than the stand the eleven. there are no draws, and every score in the last two minutes is worth double. that's interesting. the league, by the way, also just announced a nice big infusion of over $64 million of funding from left lane capital. finish joining us now in a fox business exclusive is 2010 world cup champion and kings league founder himself, gerard pique. gerard, great to have you ear. here. you said, you said this league of yours, it is football, but it is not football. so what do you mean by that, and why, why did you get into this? >> well, because i think at the

end of the day putting a ball into the goal, but it's through all the rules very different, and i would say that we are a mix between traditional football and a video game where, as i say and as you mentioned, there are crazy rules like goal double last two minutes, we throw a dice in the middle of the game, and if it's a three, the game is 3 versus 3 or if it's 2, 2 versus 2. they have the secret weapon, the coach that they can use it during the game whenever they want and the audience doesn't know about it. so these are are different from traditional football as you and i understand, but i think that they are very fun, and people really enjoy watching, watching the games. they are much shorter, like 40 minutes per game, but much more exciting and the games at the end of the day not draw. someone has to win more like the

american style sports. ashley: yes. >> and i think people just love watching it. ashley: yeah. i'm looking at some of the crowds we haven on our screen, gerard. you say some crowds are as big if not bigger, sir, than the big long leaguer games in spain. you must be very encouraged by that. >> yeah. in terms of audiences, there are some games or that are more watched than games here many spain. we use youtubing -- youtube, we use twitch or we use tiktok, so these are our platforms right now. they're working very good all these young audience. and also as you can see in the pictures we do arrive events that are normally final, we call it final four because it's the semifinal in the final of the leagues. people come, by their -- buy their tickets and we, for example, come with more than 92,000 people.

this was march last year. we sold out the stadium in madrid, more than 60,000 people. and two weeks before, who weeks earlier we sold out -- which is where the hand of god in the world cup '86. ashley: yes. >> and we put, like, 80,000 people there. and this was two weeks ago with the americas kings league, a competition that we launched in february. ashley: as an englishman, thank you for bringing up the hand of god. it still is a painful thing. stay right there, question regard. [laughter] i want to bring in the left lane capital founder and so owe harley miller. harley, great to have you here. why invest in this kind of a sport? if what got your interest and why you wanted to put money into this? >> well, i think, first and foremost, thanks for having us.

it's been a privilege to work with gerard and the rest of the kings league team. good to see you, gerard. [laughter] i don't think anything like this has ever been, or you know, produced, right? and the fact that gerard effect eli invented this, you know, last year and if it's made -- [inaudible] and watching sort of his command if both as a legend with of the game of football, right, but also how tapped in he was into the cultural zeitgeist of the younger generation and effectively creating a new sport, a new sporting format that the both has legitimacy and entertainment value, we haven't seen something like that certainly not in the game of football or soccer as we would call it here, and that piqued our intrigue. seeing it work in spain and now disease -- as it's crossed the atlantic, it felt like a once in a career opportunity. and so we're really privileged to have been chosen as the lead investor. ashley: so quickly, harley, you know, when could we see this in

the united states? >> i don't want to speak for gerard and his team as this is, you know, very much a founder and management-led business, but i would think it's, you know, in the next year or soon iser, right? and i think we'll already start taking strides toward that and having active considerations, but these things take time to do it properly, earnestly and comprehensively. so i would think this is a first half of next year if not sooner, but i don't want to overpromise -- ashley: very good. and, gerard, you know, soccer continues to gain ground with in the united states, and this kind of entertainment seems, you know, perfectly made for the u.s. audience, wouldn't you agree? >> yeah, for sure. i mean, in fact, some of the things that we did in kings league, it's taken from sport from the u.s. because you understand more than anyone the balance between sport and show and entertainment. and if this is what we want to do with football or soccer, as you mentioned.

at the end of it is football, but with another rules much more fun, and people really love it. you can see here in the video, for example, the president or the owner of the -- [inaudible] taking a penalty. they can do it -- [laughter] i think that this in the u.s. with the owners of the franchises, this could be very fun. and it's, it seems like kind of stupid in a way, but it's very, very fun. people just love it. ashley: yes, they do. that's not stupid at all. swre regard and harley, thank you, gentlemen, both for coming on. i look forward to seeing this sport grow, and i look forward to seeing it here in the u.s. thank you both for taking the time to talk with us us, we appreciate it. >> thanks, ash, stay tuned. >> thank you very much. ashley: thank you. take care. all right, fox business alert for you, let's get to some of the stocks that are moving. shares of athletic shoe maker on, well, they're running higher, nicely. up more than 18% after its first quarter results beat on both top

and and bottom lines. the swiss company said profit more than doubled during the quarter thanks to strong direct to consumer sales in asia and america. while on's sales are winning, so are its athletes. unsponsored track star helen to beery won the boston marathon decked out head to toe in the brand. she won the lls running shoe to win the 26.2-mile race, and the stock doing very well as a well. shares of plug power also rocketing higher this afternoon, up 20. the hydrogen fuel cell systems maker says it has secured a conditional commitment for a loan guarantee of $1.66 billion from the u.s. department of energy. if investors cheering this long-awaiting funding for plug which will finance the development of six green hydrogen production facilities across the country. mean while -- meanwhile, alibaba shares have been falling in

today's session, as a you can see, down more than 6.5 after the chinese tech giant posted mixed fourth quarter results. alibaba beat on revenue but saw an 86 year-over-year drop in profit -- 86% -- with consumers pulling back on spending in china. and as alibaba looks to reegg night growth in e-commerce, revenue from its artificial intelligence and cloud computing units actually saw triple-digit growth year-over-year. but again, the stock down 6.6. and take a look at jack in the box, sizzling higher today. i'll have the fries with that. it's up 111 percent. the burger -- 1%. the burger chain posting a mixed second quarter report with a miss on revenue. however, the company's profit margins were protected by the addition of company-owned restaurants and commodity inflation. jack in the box says the hit by a shift in consumer spending, increased labor costs and the delay of a new menu with item called the smashed jack.

sounds interesting. the company says these increased costs were partially offset with by targeted menu price hikes. if all right. those are your pop stocks. all right, openai yesterday unveiling itself new vision -- its new version of its chatgpt chat bomb. today google said -- chat bot. today google said it will roll out artificial intelligence search summaries by year end. now podcaster e david sacks has launched his a.i. start-up called glue. sounds good, doesn't it? we're going to ask him about the company's plans to glue together chatgpt with work platform slack. and by the way, even though liz is out today, she will be part of the brand new fox business rundown. it's a biweekly podcast to catch you up on the latest developments in the financial world, of course, and what it all means for your wallet. it debuts may 20th and drops every monday friday. you can scan the qr code e on

your screen or just go to foxbusinesspodcasts.com or apple, spotify or wherever you download your favorite podcasts. "the claman countdown "coming right back. ♪ ♪ (traffic noises) (♪) the road to opportunity. is often the road overlooked. (♪) at enterprise mobility, we guide companies to unique solutions, from our team of mobility experts. because we believe the more ways we all have to move forward. the further we'll all go.

i was only 23 when i was first diagnosed with non-melanoma skin cancer. 40 years later, i've had almost 20 mohs surgeries. i had just accepted that the pain and the scars were going to be part of my life. but when i was diagnosed with two basal cells on my face, i became determined to find an alternative to surgery. if you, like millions of others, are affected by skin cancer... it's important to know that surgery isn't the only option. there's another choice. gentlecure. it sounded like everything i had been looking for. gentlecure uses low energy x-rays to kill skin cancer cells with a 99% cure rate. plus, there's no cutting, no surgical scarring and no downtime. i'm so glad i did it. it was successful in every way. to learn more, call today or go to gentlecure.com

i bought the team! kevin...? i bought the team! i put it on my chase freedom unlimited card. and i'm gonna' cashback on a few other things too... starting with the sound system! curry from deep. that's caaaaaaaaash. i prefer the old intro! this is much better! i don't think so! steph, one more thing... the team owner gets five minutes a game. cash bros? woo! i like it. i'll break it to klay. cashback like a pro with chase freedom unlimited. how do you cashback? chase, make more of what's yours. we really don't want people to think of feeding food like ours is spoiling their dogs. good, real food is simple. it looks like food, it smells like food, it's what dogs are supposed to be eating. no living being should ever eat processed food for every single meal of their life. it's amazing to me how many people write in about their dogs changing for the better. the farmer's dog is just our way to help people take care of them. ♪

hi, i'm ben and i've lost 60 pounds on golo. (guitar music) with other programs i've tried in the past they were unsustainable, just too restrictive. with golo i can enjoy my food and the fear and guilt of eating is gone.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com.

ashley: breaking news from alphabet's headquarters in mountain the view, california. during its annual io developer venn are, the parent company of google just announced major changes to its a.i. products including an updated version of its chat bot, gemini pro11.5 as well as a program called a.i. overviews which will summarize google search results at the top of the search page. oracle, by the way, also moving today on big a.i. news. the stock, as you can see, up 3.5% on a report from the information that elon musk start-up, and ai is nearing a

$10 billion deal to rent oracle's a.i. serves. now, all of this hitting the tapes just a day after openai unveiled a new version of its chatgpt called gpt 4.0, the same day amazon-backed anthropic launched its a.i. chat bot, claude. now venture capital guru and founding coo of paypal david sacks has an a.i. slawtion that's tailored to a specific -- solution that's tailored to a specific problem, work chats. joining me now to discuss his latest project called glue, i love the name, is, indeed, cofounder dead sacks. david, let's start right at the beginning. what does i glue do? what problems does it address? >> thanks for having me, ashley. glue is work chat for the a.i. era. so what we've seen in tech is that anytime there's a new paradigm, you get a new

communication tool. i remember back in the, around 2008 i created a company called hammer which did enterprise messaging based on feeds which was the concept at that time based on social networking. then we had slack arrive around 2014. that was based on irc or channels. now we have a new paradigm that's based on chatgpt. people want to have threaded conversations. the problem with chatgpt is that it's not multiplayer, your coworkers are not in the chat with you, and so what we've done with glue is created essentially a multi-player version of chatgpt that's also a if fully-featured chat app so you can have conversations with humans, with a.i.. it's all very convenient, in one place. ashley: because so many of these work chat programs already have a.i. built in, but do they not do what your system does? >> no. i mean, or if you look at a slack are, for example, it's very limited. they've got a. i. as a part of

the enterprise plan but only in direct messages. the a.i.'s not directly part of conversations with coworkers. now, maybe they can change that and introduce that over time, but the real limitation of slack is that it's all all based on channels. and the problem with channels is to get to one thread that you really want to see is, you have to join a channel and you get bombarded with all theser or e relevant conversations. so what people have told us is that they've got channel fatigue, they don't want channels anymore. all they want are the threads. and so that's what we've done, we've gotten rid of all the channels. it's a threaded conversation model like chatgpt, but it's multiplayer so it's the best of both worlds. ashley: you've been funding and basically incubating this program through craft ventures. when do you look to the outside, perhaps, for external funding? >> i think we'll probably do that pretty soon, you know? craft has incubated this, and we funded the development to have product. i was the cofounder/chairman,

and i have a great cofounder/ceo named evan owen who has a lot of experience in the enterprise messaging space, and i think that soon we'll probably look to do a conventional series a, let the company sort of fly its wigs, so to speak, and also get some people involved who we admire and would like to get get involved. ashley: this is a very, i mean, this is the an industry and this particular part of the industry is booming. how do you stand out? >> well, it's definitely booming, but i wouldn't say it's saturated. i think that if you look at a.i., this is as big a tech wave as the internet itself was or mobile was. and so when you think about how many web sites were created or how many mobile applications were created to take advantage of those waves, we're seeing something similar here with a.i. so i think that there's a tremendous amount of experimentation happening right now. some of those ec experiments aren't going to work out, but some have are going to become very big companies, so it's a very exciting time. and in terms of how we stand

out, i think we're the first a.i. native work chat app. so there was work chat apps for the pre-a.i. era, something like slack, there have been consumer chat apps and chatgpt has really organized to be more consumer-oriented, but no ones has really done enterprise work chat that's native to this a.i. era. ashley: right. as in this whole technology develops, david, cheerily your program is for those -- clearly, your program is for those who are working but there are others including the imf who talk about the global labor market being hit like a tsunami as a.i. continues to do more of the work. do you have any concerns about that, or do you think that's overblown? >> honestly, i think it's probably overblown because i think the media loves to run with a story about job loss. i think that, to be sure, we're going to see some job displacement is and we're going to see some job disruption are. but there's going to be a lot of new kinds of jobs created, and

there'll be many old jobs that simply are able to become more productive because they're able to lay off some of the work with they don't want to do on to a.i.. so i think it's going to make people more productive and and their jobs more enjoyable and, look, the productivity in our economy has to come from somewhere, right in and that comes from technology. and i think a.i.'s going to unleash a real productivity boom. so there's going to be some issues to manage, for sure, but i think on the whole it's going to be a very positive trend. if. ashley: it's a brave new world, for sure. david sacks, thank you so much for taking the time to talk to us and good luck with glue. >> thanks, ashley. appreciate it. ashley: thank you. oh, my pleasure. all right, now this, amc raising $250 million in new equity after completing a share sale launched at the end of march. and with the stock price going gangbusters, is there a chance of a follow-on offering? well, guess what? charlie gasparino will be here next, and he's going to break

it. ♪ ♪ are everywhere you turn. but at t. rowe price, we're letting curiosity light the way. asking smart questions about opportunities like advances in healthcare. and how these innovations will create a healthier world tomorrow. better questions. better outcomes. before planning the big trip you were limping thanks to a bad knee. then, you heard about mako robotic-assisted knee replacement. it starts with a ct scan to pinpoint the problem. that becomes a personalized, 3d plan to guide your doctor during surgery. mako can help lead to better outcomes, like less pain and shorter recovery times. the lifetime of a knee implant is limited, and revision surgery may be required. individual results and recovery times vary. risks of surgery include pain, infection, heart attack, stroke, death, and other serious risks. ask your doctor for important safety information. [camera shutter]

to find a doctor who uses mako visit makocan.com did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com

. . tamra, izzy, and emma... they respond to emails with phone calls... and they don't 'circle back', they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety-clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy, and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team.

let our expertise round out yours. the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free. now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least $10,000 to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free with details about how bonds

can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income are federally tax-free and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. ashley: let's look at shares of movie chain amc, up a mere 31%.

a buck 65 for 6.84 stock. this is even after the company, by the way, disclosed a 250 million-dollar stock sale monday night, take advantage of this week's major rally in meme stocks. only one person to talk to about all of this, his name is charlie gasparino. he is here to follow up after yesterday's nuttiness on the markets and today it's amc. charlie. >> you know, i had this 2021 feeling for some reason although again -- ashley: yes. >> we both had gray hair, less gray hair back then than we do now. ashley: it is right here. >> it is a continuation from yesterday. now it is the other meme stock that is still around. a lot of these meme stocks blown up out of business, bby, bed, bath & beyond, mmtlp which is gone as well. gamestop is still around. so is amc theaters. you know what is interesting about the gamestop rally, it is

up another 20%. that's amazing that both of these companies have troubled balance sheets. if you get involved in this, remember you get involved because there was a meme of a guy sitting on a chair posted by a dude who calls himself the roaring kitty. as far as amc is concerned this is as fating because the company as the stock was running up, showed, basically showed investors what it will do every time they run up the shares. it sold more stock. the company essentially has diluted shareholders again today, issues some more shares today. i guess the sale was announced, began a few weeks ago but continued today from what i understand, and again diluting shareholders even more. what does dilution mean? more shares divides up the same earnings, or in the case of amc, often losses that means your stock is theoretically worth less. even if you're bidding up, it gets a smaller share of the pie. remember that when you purchase

shares of amc. that is down, off its highs. it is not down. still in the green. one person who is kind of silent amid all of this as roaring kitty is going out there is the ceo of amc, adam aron. usually reliable figure out there in meme stock man. calls himself the silver back after the amc apes. he did a lot of talking back in the day about good dilution. that is what he called it. there is no such term good dilution. when pounce, going through the greatest hits. he is silent. one reason he is silent the hysteria around this stock, my guess his legal team better to stay away from this thing based on the roaring kitty's stock recommendation, particularly given the last quarter of performance wasn't so hot for amc and their forward guidance isn't so great either and yes, they diddle lieutenant shareholders that means shares

are or losses are less than what they should be. ashley, that is where we are right now. it is hard to see 2021 in this rally and here's why. we have totally different environments. people were flush with ppp, flush with stimmie checks, not ppp, but stimmie checks. that ppp was another type of stimulus from small businesses during the covid lockdowns. people were getting stimulus checks. lots of fed easing. the fed was printing money like no tomorrow. it doesn't stop printing money after a full year, well after 2021, march of 2022 when the fed started raising interest rates and reversing qe. we're in a different ballgame. the fed is slowing winding down its balance sheet, it is winding down. interest rates they may have to raise rates again. no rate cuts until the end of the year. this is a whole different sort

of monetary policy environment. again i would be really careful here. if the fed raises rates, you could get a massive puke in this market and meme stocks would be the first to go. ashley: fbn's growling tiger taking on roaring kitty, winning as always. charlie gasparino, i don't see any gray hairs. >> i just put jell in it that's why. ashley: i always knew it. closing bell ringing in less than five minutes from now. the dow, s&p, and nasdaq all higher today. look at that, the dow up 145 points on its way to its 9th positive day in the last 10 sessions. nasdaq heading for its second up day in a row. that index by the way on pace for a record close today. keeping an eye on the s&p. it needs just 33 points to set another record close. it's up 27, oh, so close. meantime investors of course looking ahead to tomorrow's read on april inflation with the consumer price index report at

8:30 a.m. set your alarm if you're not getting up early. they expect the headline number to rise 3.4% year-over-year while month over month is expected to climb 0.4%. our "countdown closer" says he has a name that will bring rich returns amid sticky inflation and a possible economic downturn. to guidestone funds president, brandon, with a mere 19.6 billion in assets under management. all right, brandon what stock due like out there this environment? >> thanks for having me. certainly not meme stocks. unbelievable we're talking about those again. one of the names we think about a lot, defensive nature, we like health care names in general is eli lilly. they of course have a great global portfolio drugs out there. the two catching our eye is the weight loss management drugs. those are the topic de jure lately. this is addressable market.

2/3 of americans are overweight or overbees. if you spread that out, two billion people of market-size. injectible new medication. they have reformulated a old diabetes drug. this is 80, 100 billion-dollar market out there. they have a diop poly with the novo north tis on the weight management space. they have put in millions of dollars in new facilities to help with the supply chain. eli lilly has great products a great name in the defensive health care space. >> like nvidia, but there are those on wall street think it is overbought but you think there is more room to run? >> certainly more room to run. your prior guest talked about a.i. proliferation that can't be understated. hard to say things about nvidia that hasn't already been said. there might be improved supply chain to help get the chips out to market further. they take up in a stack

necessarily in the data warehouses these days about 80% of compute space. that is only 15% just a mere five years ago. n sid -- nvidia has room to run because of that. they're in ongoing transition. data was a depository of files. people needed extra space to store extra files. now we're talking about serious computer power all things a.i., deep learning, data intensive computing tasks. a lot nvidia can offer. we like the name. we would stick with it. it is cash flow positive clearly and we have earnings report national about a week. ashley: we have another report tomorrow cpi, what are you expecting? if it comes in hotter than expected do we take a leg down on the markets? >> hotter than expected is a leg down. we had green into the close. ppi came in a bit hot but i think mostly neutralized by the fact our prior reading came in a

revision to negative .1. that is from a positive .2% that was previously reported. cpi of course is something that i will be setting my alarm clock for, as you mentioned. i will be up and looking as will many people. we fear the market will lay down if we get that hotter than expected print. we're baking in too many rate cuts now it seems. ashley: right. brandon, we'll have to leave it right there. thanks for sharing your insight with us today. we're about 25 seconds from the close now. we're looking for a new record close for the nasdaq. s&p very close. needs just 33 points. we may not make that. [closing bell rings] as you can see up across the board except the dow transports down half a percent. what a day. that will do it for "the claman countdown." thanks for joining us this afternoon. the great larry kudlow -- ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. well day 1