because they have, you know, 3, 4x more consumers. then when you add the fact that china a.i. is going to be sovereign a.i., so that means they're going to want it regional a, they're going to want it local, their -- they're not going to to work with united states a.i. companies, that combination means companies like baidu and tencent have an open runway in their own region. charles: all right. everyone's going to to be on pins and needs. beth, congratulations. you really were pounding to table on this when no one believed it. a few times they would have a hiccup and people ridiculed you and your work, but your on top of the world right now, and anyone that followed you is as well. speaking of being on temperature to have the world, that's where i am because liz claman is back. hayes liz charles, that was a good call! smci, nice move. breaking news as we kick off the final hour of trade, we are

looking at one of the close e races to a fresh s&p record. all the s&p needs to mark a new if high is a tiny fraction, .02 points to the upside. right now we're up 5.75, so we're there. now, yesterday it missed it by a nano-inch. right now we do have it in there, so you've got to stay tuned the whole hour. -- hour. the rest of the markets in the green, mostly. the russell is the laggard, down about 5 points and after yesterday's nearly 2000 above -- 200-point drop, the dow's up a bit, up 25 points. any gain for the nasdaq would eclipse the record and throughout much of the session let's look at the nasdaq intraday, it's kind of poked both above and below the flatline. but with about 59 minutes left to trade, it's in the green by 13 points. so we're looking at a record at the moment. the two notable nasdaq stocks blasting to never if before seen heights, microsoft, number one of them, touching the highest

level invest orers have ever seen. high of the session, here we go, we do have microsoft at -- is that correct? all right, hold on. i just want to check something. we've got it at $429.38 at the moment, but the high of the session, $432.97. this after the company unveiled the new surface if pro and laptopses at its build conference, jam packed with a.i. features and powered by qualcomm snapdragon x heat trips and and that's concern chip, and that's number two. lo and behold, qualcomm also rocketing to an all-time record. benchmark and rosenblatt hiking price targets to $240, right now qualcomm is $2000 and change. perhaps the market's moves are just a bit tentative due to the fact that that we have seven fedheads out and about speaking today, sick of who are -- six of whom are voting members of the interest rate-setting committee. five have already made their remarks, we're waiting on two others.

most notable so far, governor chris waller who held rate cut hopes at bay when he said morning he needs to see several more months of good, meaning slowing, inflation records before he's ready to give a thumbs up to any rate cut. still, though, markets are up. bond yield withs down slightly with the 2-year yielding at the moment 4.42. we do have some investors moving to lock in longer dated treasury, the 10- year down to 4.48%. but what may be the strongest near-term catalyst for stocks, nvidia earnings out after the bell tomorrow. shares of the a.i. chip leader were in the red early part of the session here, have punched up just by about a -- actually, flatline at the moment, had been higher. we do have it gaining an empressive 9932% year to date -- 92, 204% over the past year. and while the market may be waiting on nvidia to see what's

that going the to do, should it affect the entire market, should investors be waiting on insid ya or be making some moves right now? let's get to the floor shocker joined by goldman sachs'ic bity portfolio manager greg to have toe, he is here on set. are you the al qaeda of -- kind of guy who says, ooh, let's wait to see what nvidia does? >> not. i think they're, for us, we have a number of name names that we like in the chip sector, so i do think they will benefit from the field that nvidia's plowed so far in the a.i. space. we like space a lot, i think there's going to be a lot of chip production in the united states. we also think that some of the new next generation node ifs of kip manufacture being will take advantage of some of these -- chip manufacturing will pick advantage of some of these small perrer companies that can handle the niche of production. liz: you mentioned small caps. right now the bigger indices are moving to the upside. nasdaq and the s&p at record highs this moment, but the russell has also actually month

to date caught up. in fact, it's beating the dow gains and the s&p gains this month. what what does that tell you? if. >> you know, i think that we needed to see some rate certainty for a very, very long time. of it's been a bit of a, you know, kind of one step forward, two stepses back as we waited for inflation data to calm down. i think we started to get some with the most recent cpi print. i do the hi you're hearing a lot, as you mentioned, from the if fed speak pers that are out there, but i don't think it's changes a whole heck of a lot. the inflation kind of rate is moving to a level that i think they can be comfortable with, at least cutting once before the end of the year. and maybe we get two, but i think the rate, the percentage chance of having a rate reduction before the end of the year is over 50% at this point. that's a good sign for small caps. liz: a guy like you, goldman sachs asset management equity portfolio manager, when there are seven fedheads, we can put them up. again, five are voting members, out speaking -- i didn't say

yammering, speaking -- [laughter] today. how closely do you listen to something like that? >> what you look for is anything that's different from the chair powell speaking last, you know, after his last system -- testimony. liz: and did you hear anything? >> no. it's the really just a lot of filler, in my mind. we know where the direction the of things are, and i think we've been pretty comfortable i that what we're seeing from the companies is more in line with what we're hearing from the inflation data that's out there. liz: okay. i'm checking the s&p once again, record territory or, folks, right now. let me get right to the floor of the new york stock exchange for a moment and peter tuck pennsylvania. peter, is the the -- peter tuchman. is the market looking healthy or toppy to you? >> healthy to me. obviously, we have got all this fed chatter. the markets were upset about it a few weeks ago, they were speaking out of all different sides of their mouth, they were not coming back with one clear message, i kind of think that the you're looking at a 72

chance of one cut for the year. they're comfortable with that right now. the market seems to be forging the on. we hit up against 40,000, we back off. that's kind of unhealthy for our recovery a little bit, but it seems like they're looking to find spots to buy this market and surely not to sell i. if they wanted to sell it, they'd have plenty the of opportunity. nvidia kernings tomorrow -- earnings tomorrow it seems healthy to me. liz: can i just say though that bank of america just did a survey and,'s in's is sense, it says investors are most bullish on stocks since november of 2021. that makes some people nervous because they look at the retail investors now piling into a ship that might already be a little bit overloaded. >> you know what? it's funny, it's when you're like the taxi cab driver starts asks -- asking you about what he should is start investing in, that's when it's time to start worrying about the market. there's a whole new generation of young retail investors. i think people are putting money

to work. they've not had an opportunity to buy anything on sale. the first month we saw when there was any kind of a sale was in april after a really spectacular first quarter. april was a healthy 10% pullback. it did not break down any further than that. that whole selling thing did not come together. they're looking for opportunities to buy -- liz: liz yeah. and people panicked in april. everybody calm down. but, greg, peter just mentions that you've got some younger investors out there looking for naval names. and the valuations of the bigger names are very heavy at the moment in some cases. the maul and mid if-cap -- the small and mid-cap name p goldman has a smaller mid cap etf. that, to me, is an area where if you pull it apart, you can kind of tease out some of these names. names that a we've covered, cava, the health food fast-casual restaurant company.

tmdx is in there, transmedics. you still don't think even though they have hit these 11-year highs hat valuations are still good? >> i think one of the things that that peter mentioned was if you go back to november 2021, you started to see earnings estimates really start to go down for '24 and '25. we're starting to see them go back up. as long as the earnings picture especially for those companies is continuing to go up in the right direction, 2024 and for 2025, we don't think that this is a danger zone at all. and we do think that the 52-week highs are more reflective of these increasingly better fundamentals that people willing to price into the small caps. for a couple of years, or they were not willing to do that. his liz i find this all really interesting because as greg, peter, pecks out these names of the smaller caps because they know some of the better fundamentals that are in here, you're looking at the broader market. i need to ask you as a seasoned trader what is the one metric,

pierre, that you are checking -- peter, that the you are checking every single day that would give you a flashing red signal indicator? >> you know, it's so hard this market, one day at a time. i think we need to disengage so much of the chatter. i think the fact that we're getting these mixed messages from the fed makes it a little bit scary. i think the market is being fueled by somewhat of the retail investor, somewhat -- look, these valuations, yes, they seem a little frothy, but we've been trading at record highs week after week, month after month for the longest time. and whenever we've had an opportunity to really sell this market, they've not taken advantage at all. so i don't know what metric to look at -- [laughter] except, look, we're in the middle of two global wars that are huge. we've got an oil market that's really going through a lot, and we've got this interest rate and inflation story that's constantly giving us stuff to worry about. the economic data is being finish we're being barraged by it on a daily basis, and yet the market just continues to hold its ground. so, you know, look, anything can

happen. you know? i'm not here to tell you if it's going to go up or down. the only answer to that question is, yes, it is. [laughter] liz: yes, it is. dollar cost average. buy the market when it's high and low and every time you're going to do well -- over time you're going to do well. to recap, microsoft hitting an all-time record as it kicks off its annual adopter conference. a.i. chip behemoth nvidia reports earnings tomorrow. that is going the to be a big one, folks. i remind you, it's not how the mark opens, it'll be how it closes. and fed governor chris waller says he needs to see several more months of weakening inflation data before he can even consider easing monetary policy. we're taught lot about a. a i.? scar jo a tax on the king of a.i. the hollywood a-lister infuriated the9 chatgpt maker sam altman a appears to have copied her voice for its new a.i.up assistant even after she refused to give him a licensing offer.

did scar jo's no just upend the power balance between the tech and hollywood? a.i. investor and palantir cofounder joe lonsdale is standing by live. he is going to weigh in. and and speaking of artificial intelligent, bank of america coming out with a note saying dingal infrastructure company veritive is the real a. lyft darling up, are you ready for this? 504% over the past year. maybe a little bit more, 526%. "the claman countdown" is coming right back. we've got so much more to talk about, stay with us. ♪ ♪

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liz: well, the convo between scarlet johannupson and openai

must have gotten lost in translation. openai tried to bring the movie her to life, a man who falls in love with an a.i. assistant voiced by johansen, has accused openai of using a voice similar to her own for its gpt voice assistant named skye. even as scar jo said no to an offer by sam altman. well,, the actress issued a statement saying, quote, last september9 i received an offer from sam altman who wanted to hire me to voices the 4.0 system, and after much consideration and for personal if reasons, i declined the offer. when i heard the released demo if nine months later, i was shocked, angered and in disbelief that mr. altman would pursue a voices that sounded eerily similar. similar. to mine. the openai ceo sam altman firing bark quote: the voice of is not scarlett johansson's, and it was never if intended to take after

her. nonetheless, the the chatgpt maker has paused the use of skye in its products, but the scuffle brings fear surrounding the use of name, image and likeness without consent to the front burner. are laws against using people's voices and image next? joe lonsdale funds a.i. companies, the palantir cofounder joins me now in a fox business exclusive. joe, i can't wait to hear what you think about this. what do you make of this sort of clash of the titans of tech and hollywood? >> well, you know, it was actually funny, we've been working with hollywood on different things for about 20 years, and it always ends up being the case that the people in l.a. think they're most of the value, and they're only tiny part of the value, now that being said, this is up the lawyers to decide. the bigger story here, liz, is that you have a technology that's just completely transforming our economy, and if we allow it to in the right ways, in health care and 40 logistics and, you know, so many other areas, we're going to make

things so much more efficient to help everyone, and education, of course. i think the bigger question is let's make sure we don't stop this technology from doing the good things it needs to do. we've still got to follow the law and contracts. i guess the only one who benefits from if this silly fight is a bunch of lawyers who decide if they did it or not. liz: interesting point but, yeah, the guardrails are needed. the last time you were here we were talking about talking about the 200 singers, everyone from jon bon jovi to billie eilish to the estate of frank city9 gnat rah who had signed an open letter -- letter saying stop ripping off to our voices ask and stealing our voices. and you had said, you know, this country has bigger problems to deal with. but you also said we need some laws here. scarlett scarlett johansson has been a pretty strong voice. she took on disney when they tried to release the black widow movie first on streaming and that wasn't in the contract, and she won. it just feel like we're getting very close to a law. what should that law look like

in your opinion? >> i love she has a strong voice. i have four daughters, and i think women should stand up for therms when they're taken advantage of. in this case it's not clear that's what happened. there are lots of things with voices that sound similar, and that's perfectly allowed. i think it should -- there probably should be something where if you're going to use someone's voice as inch put, you know, their likeness, there's probably trademark rain copyright laws i think that already exist, and she shouldn't be able to put that on a brand or -- brand or promote anything -- something but if something sounds similar, it -- liz: not different than a patent for exclusive technology. you're a tech guy and you fight very really hard finish. >> that's a misconception. and i'm glad you said that, because the vast majority of time when you're dealing with patents, you're mostly dealing with patent troll it is. in my experience having come up with lots of different things,

actually don't think software patents should exist, they're needed maybe in certain bio areas for certain they are therapeutics and molecules, but the vast majority of patents are actually the lawyers are canning people p. liz:, that i know. >> you've got to be very careful in this country, you know? liz: this country is facing, as we perfect to something that is near and dear to your heart, a very upsetting time amid these protests on college campuses. obviously, of we have seen it spill over to the graduation, commencement ceremonies. just yesterday yale had a bunch of students turn their backs and walk out. they a staged a pro-palestinian, pro-hamas walkout. i guess they didn't want their, they didn't want their diplomas. but that said, this is really sweeping across many ivy league schools. university of michigan. it's not just ivy league, ucla. you have started university of

texas at austin because you have felt that colleges are not educating students in the right way, they are too woke. you now have a hundred students who are sign us and -- signed up and ready to start their education in the fall. how will university of austin at texas the be different? >> yeah. so university of austin's a private university in texas, and, you know, listen, liz, a lot of these kids, this is a lot of moral if confusion in our country. i think we have a culture where you're not allowed to actually debate these things openly, you're supposed to already have the answers and yell at the other side. these kids probably never if even heard the other arguments, they don't believe there are other argument9. i think you need to have universities to teach people to the listen and to debate and to realize you don't have all the answers and to actually pursue truth. and, you know, i think there should be critical thinkings crasses where you have to make the argument for the other side to understand them. i don't think these kids have gone through them at all, and

it's very sad. they've been brainwashed their whole lives, and it's a very liberal perspective. liz: joe, i think it's phenomenal you have launched this university. it gives people an option to actually be educated and also have civil discourse. when you see these students who are wearing red gloves to symbolize blood-stained hands, and they're not talking about the blood-stained hands of hamas who murdered 1200 israeli and american citizens on october 7th, they're talking about america, america sticking up for a democracy by our government helping fund at least some of the weaponry to go to israel. you know, what does this tell you about the state of this nation and the students that are being churned out of some of these elite universities? >> i meaning frankly, liz, i think a lot of them are, unfortunately, useful idiots. radiolike the original blood-sustained hands was the extreme theist radical islamist side, and that's where it was used. like a lot of slogans they're chanting and e meeting, they're

take things that were done by radical islamists, some by wheel whose values they're completely against the way our society works and they're championing them, i think they're very naive because they haven't been in a culture that's forced them to debate and learn and have discourse and see anything going on right now. i think it's a shame, i think it's sad, i think it's dangerous for our country. and they shout them down, they yell at them, and all these kids, mostly kids going to those schools, they've learned, oh, it's not worth being courageous and speak out o. you just have to shut and go along, otherwise your life is going to be hard. so we're training do our and bright e to be cowards, and that's a huge problem for our society is. liz: i would agree, and good luck with the launch of the university, joe. you're a terrific american. you are among the best, you know, really kind of capitalist but also really thinking about the future thank you so much. >> thank you, liz. liz: joe loans day. microsoft not just back -- packing etc. new pcs with a.i., it's showing off the use of its

company if oncan co-pilot in that minecraft video game. what's gaming giant ea doing to grab gamer, and is a.i. going to be a huge part of its playbook? the president of ea sports is joining us next. after a boffo 95 month to date runup, video retailer gamestop pulling back by another3.6% right now. we are coming right back after this. dow jones industrials up 55 points. ♪ (♪) at enterprise mobility, we never stop looking for new mobility solutions. because sometimes the best road forward, is the one you didn't expect. (♪)

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liz: we should check back on microsoft shares because it is driving a lot of the nasdaq gains here. microsoft shares up just under 1 point -- sorry, 1 or 3.448 points. $4328.if 84 -- 428.84. that is earlier it hit, let me just, i want to make sure because i want you guys to have the exact number. the previous record high during this session came down to $432.97. so it's off that at the moment. but still the tech giant just finished wrapping up day one of its builder 2024 conference by unup veiling an expanding partnership with nvidia. one new a.i. application if kind of getting lost in microsoft's flurry of headlines could actually trigger a massive shift in video gaming. microsoft's a.i. can co-pilot now can help gamer s crush,, the

competition. watch. >> oh, no, it's a zombie. run, you need the get away from it fast. either sprint away or quickly build a tower straight up to get out of its reach. if you can find a shelter or dig into the side of a hill, do it now. just make sure it can't reach you. all right. i think i might be safe now. whoo, that was a close one. great job finding shelter. liz: okay, i know that a sounds a little weird, but that first voice is the co-pilot, it is now helping teach minecraft players all kinds of skills and, no doubt, microsoft -- which acquired activision blizzard a, will build it into all its games. how will a.i. alter perhaps the entire video game playing field and the stock the. surrounding it? everything a sports president cam weberrer joining -- weber joining us now. how is ea weaving a.i. into its gameses, and how important is a.i. to the future of exa? >> yeah, it's super exciting. you know, we are using it in how we're building game requesting.

i think the example you just example you just showed -- how to help players get better at a games, exciting opportunities. you look at fc24, our big soccer title, we had hypermotion where we're taking volume pet rick capture from 8k cameras in stadiums from hundreds of matches in europe and translated through a machine-learning layer that custom creates net president new i run time animation if from that video, and we can translate it within minutes. so we had over 1200 individual signature run cycles in fc24 compared to only 36 the year before. college football, on the eve of launching college football '25, first time back in 11 years, and we've used a machine learning and inspired tool set to create over 134 schools' stadiums, maas to thes and traditions and over 13,000 players that have opted in from our nil program. and we couldn't have built those likenesses and executed on that

without machine learning technology that we built into the tool sets that we're cruising to execute on all of it. liz: well, cam, ea sports college football '25 is expected to be a major game release. it's the first version of it in 11 years, i believe. can you give me a sense of what what kind of sales you expect and how, perhaps, a a.i. might be driving some of those sales? >> you know, first of all, there's pent-up demand for this game that a we have seen coming for a very long time. so much excitement. the trailer we put out on friday, i think it's had -- or players, 20 million people have watched the video, and the sentiment is through the roof. people are really excited for this game and what they're most excited about is the attention to detail that uh-uh you see that shows every mascot tradition, the detail this all of the player if molds and the environments we created all the way down to just the micro detail across these 134 schools. and is once again, or we couldn't have done it without evolving and investing in our skill sets and tool sets within

our teams to enable us to build at that level of scale. that level of authenticity for an ea sports game, the it's going to reach a new height. liz: the sports game vid world is very competitive. you've got take two interactive with basically the nba2x game, sony studios makes mlb, the show, you guys have the nfl game, madden, f if 1 series. 40 how do you keep up when gamers are way more picky these days about their spending? >> yeah, so, mine, we've been informing for a number of years and building our capabilities. we've built new studios, new teams, acquired new studios, brought in new franchises like formula one. we launched 8 new aaa-caliber sport games which is an all-time record for ea sports. we completely rebranded our fc which used to be our fifa if business which is one of the biggest e intertownment

rebrained s in history, and madden, once again, doing record numbers this year and up as well. so we have a lot of momentum right now, and we're doing record numbers and record players. i think over 350 million players have interact with our experiences in the past year for ea sports. liz: well, good luck with the launch of the college football version is. my alma mater, uc berkeley, better be in there with mys mascot. thanks, cam. [laughter] >> thank you. liz: president of ea sports. a fox business alert, we have a price tag for comcast's stream saver bundle, everybody. the bundle which includes peacock, netflix and apple tv will be priced at $15 a movement now, it will include the ad-supported versions of peacock and netflix if, and comcast says by bundling these together, customers will save 35 compared to subscribing to all three separately. the stream saver bundle will launch next week and is available to comcast's broadband

internet and tv subscriber. all three of the streamers moving to the whereupon side with netflix in the lead. peloton taking a dive, 15% loss here after the finance company launched a global refinancing plan the pay down existing debt and generate cash amid slowing sales. the process includes a -- offering at a billion-five year term loan. the stock is down nearly 100% from its all-time closing high of $167 hit on january 13th of 2021. tesla, tesla's actually getting a boost, and it's been doing super well. it's very close to the top of the s&p. t up 5.7% after revealing its semi trucks are on track to begin deliveries to customers in 2026. pepsico is in the lead here. pepsi taking 550 of the electric-powered class semi trucks for its fleet. tesla also says production will eventually be on track to crank

out 50,000 of these semi if trucks a year. weight loss drugs are the magic potion lately that have been powering gains in the pharma companies manufacturing them, but bayer is working on a promising therapy that may very well be the next blockbuster and, hold up, it's not a glp-1 drug. the ceo is up next on why if this particular drug is approved, it could be a revenue driver for the future. we'll be back in a hot flash. ♪ there are your hints. round hill investment launching its glp-1 and weight loss etf on the ticker ozem, nasdaq hitting an all-time high, but round hill is just about flat to slightly lore at the moment. stay tuned, we're coming right back. ♪ ♪ car, this isn't the way home. that's right james, it isn't. car, where are we going? we're here.

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touch the for those who manufacture them, but there is now a potential blockbuster lurk aring in the pipeline, and the it has nothing to do with glp-1s. right now here in the united states the menopausemedications market is worth about $758 million. according to future market insights. analysis from future market insights suggests that in the next so year -- 10 years that could balloon 5.6% to $1.3 billion although some think that is an understatement the, and that's good news for german pharma if giant bayer. last week propsing results during late stage trials which reduces the frequency and severity of hot flashes. the medication is one step closer to entering the marketplace. could it be a blockbuster? joining me now, bayer's ceo bill anderson, first on fox business. the men no pause market -- menopause if market is suddenly incredibly hot, no pun intended,

but there are a lot of companies rushing to get into it. you're deep in it already. tell me about this therapy. >> yeah. we're really excite excited because with we just got the results from two large phase three studies that showed a really clear result as quickly in one week on both the severity of men if to to pause symptoms as well as the frequency of things like hot flashes, nighttime awakenings and also menopause-related quality of life are, all of these highly significant impact and, yeah, we're working overtime now to get it ready and to submit to the finishing da, and we hope to bring this important medicine to women next year. liz: how big a market could it be, do you anticipate? >> it's a little hard to say, and we don't usually provide an advance forecast, but we know there are tens of millions of women who suffer from menopause symptoms, and about 880% of women -- 80% of women in men to pause have hot flashes, and those are exactly the kinds of

symptoms that we showed a big impact on. liz: i would also imagine that's underreported. a lot of people don't admit to itment supposedly. >> yeah. liz: bayer has not gone into the glp space. why? >> we think it's great that people have sort of brought some big breakthroughs in weight loss, but our model is really to go where there's a high unmet if need. so, for example, in the women's health we've been a leader for more than 60 years. we're very proud of that. menopause is something that was really undertreated, not such great options. there was hormone if therapy, but hormone if therapy was found to increase cancer risker and so we decided to go where others weren't going, and we're really pleased. of this is a novel mechanism of action. it targets sort of two biological targets and seems to have a really profound effect. liz: where else besides that portion of the world market are you guys focusing on at the moment? >> yeah.

well, we have big efforts in parkinson's disease. we have two different programs, one with gene therapy, one with cell therapy. parkinson's is another field with where there's been very little progress in the last decades, and we hope to make a big difference there. liz: well, that could be a blockbuster. >> oh, for sure. for sure. liz: it's the such a mystery the so many doctors and developers. >> yeah, yeah. we also have congestive heart failure with, we have a major study going on right now. we look forward to results in the second half of this year. prostate cancer is another big one. and then, of course, we're the world beater in agriculture known vegas. and in things like novel seeds that have biological traits built in that make them resistant to pests or able to tolerate herbicides. so a lot of things we're doing to the to try to bring the world better health and a better and safer food supply. liz: it is really good to hear about what bayer's doing safely, as you say, hopefully. thank you so much for joining us. please come back. >> my pleasure, liz.

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liz: can we punch of the price of the second most popular cryptocurrency? that would be ethereum, right now ethereum is up about 2%. two-day gain of 20%, driven by renewed excitement about the securities & exchange commission possibly approving the highly anticipated ethereum spot etf, maybe as soon as, let me let charlie gasparino tell us. as soon as when? >> i'm channeling ellie who did tremendous reporting on this. she will have a story on fox business soon. what are her sources saying. some of this is tea reading. there is a little daylight here us that it looks like they're moving towards approving it on thursday. now thursday apparently -- liz: this thursday? >> thursday. this is where it gets to be a little tea leave reading. i suggest everybody read ellie's story. she has a straight news story

about this that will be on foxbusiness.com, that thursday is the deadline for it and a lot of people thought they would let the deadline pass but recently they have been engaging with these issuers about you know, here is how you can do it. all the stuff they did, when they were approving the bitcoin etf, spot etf in january. and there's, i mean, listen, obviously mounting political pressure both bipartisan for crypto. i mean the democrats are literally worried could be a defining moment in this campaign. trump literally just now is accepting campaign contributions in crypto i hear. this just broke. i mean he has come out in favor of crypto. john deaton the big crypto advocate is essentially opposing elizabeth warren. he is doing very well in that race for the massachusetts senate seat. crypto people are throwing money at him. the sec seems to be like moving toward approving it. is it because of political pressure? i don't think so.

i think what gensler, the gary gensler is seeing the courts are starting to rule in their favor. there is that big grayscale case that grayscale won in a federal appeals court, allowing them to basically do some sort of a etf on a pool of bitcoin essentially. so there's movement in the courts for less regulatory, sort of clamp down on this etf thing and here's where it gets kind of tricky and this is just something for people to realize, you know, gensler has said he thinks ethereum could be a security, not a commodity. if it is a security you can't make it into an etf, it is issued illegally. one way he could split the baby, and we've been talking to people close to the sec about this, is in the way, there are two different types of ethereum out there. there is the ethereum they sort of changed their blockchain, i'm not a expert at this, they did

it in 2013. the stuff before that is it less centralized, if it is less centralized it doesn't fail the howie test, it is not a security. centralized the way ethereum when they changed their system, i think it is proof of stake i think it is called in 2023, when that happens, it becomes, that could, could those ethereum could be the security. the others could be the sort of commodity, they could be put in the etf legally. so ellie thinks the signs, everything is matching up. we've been bouncing this off the sec. to be honest with you we're not being told we're wrong, just so you know. the thing is coming together by thursday. now is it a guarranty? i can't guarranty anything. death and taxes, only thing i guarranty. i don't believe until i see the press release. keeping you abreast, this is

bouncing around out there the signs, the tea leaves, right, what's a french word for this? is that it -- liz: not a fait accompli yet. >> not a fait accompli. is it suigenri? liz: that is latin. >> need tom greek food. liz: great greek food. create is the island to go to. we're about four minutes away, s&p, nasdaq, you guys have to stay with me here, on pace for the second straight record close for the nasdaq. multiple, for the s&p and of course the nasdaq, this year. gold slipping though after chosing at a record 2433-dollars per troy ounce yesterday. our "countdown" closer likes the metal sector even though it has been hitting records and maybe a little expensive right now? he has eight billion in assets

under management. horizon cio scott ladner. how are you buying it, physical or etf, perhaps some of the miners? >> we really like the etf, simply focused, more on those miners, you get both the equity play and sort of the metals play. it is not really the gold or the precious metals interesting to us here, industrial metals, i think copper, anything that goes into making electricity frankly that can ride this, this big electrification boom we're seeing as a result of generative a.i., it is all sort of one big play for us right now. liz: when you look at high grade copper prices, depending on china demand at some points it is skyrocketing and at other points, depending what key economic data come out of asia, people say forget copper for the moment but you're bullish right now on that? >> to be clear, you have to be bullish on the global economy if you're bullish on copper. liz: exactly. >> that is clearly true.

china is showing some nascent signs they may be starting to get it. proof is in the pudding. we'll see. we have been fooled a lot by china. even outside of china, ecb start to cut rates, japan continuing to boom, u.s., slowing from a very strong pace, global growth overall is in a pretty good spot. if we get that one big bazooka out of china, not necessarily the precious metals but industrials metals to the moon. liz: copper up 14% month to date, over a year up 36%. let's get to what else you like at least in the equity world? >> the other pricing place right now is utilities. we got a pretty constructive view on risk overall, on equities overall f you have a constructive view usually utilities is not the place you will want to g. boom everywheret will require a ton. utilities are actually the best performer in this quarter we

think that the is down to folks that have not quite caught that trend yet. liz: i look at constellation energy group, this has been a crazy move over the past year. i'm looking at it right now. it is up another 3 1/3% year-to-date. it had a gain of 90% over the past year, up 157%. which part of, would you say utilities, energy, that kind of region? >> yeah. it is really anything that can be in the production of electricity or the transmission of electricity is kind of where we're focused. liz, we talked before a couple times ago about sort of next generation or second generation a.i. play. this is the kind of thing we're talking about, what's next? if you, after you get past nvidia, what else do you do? utilitiesma i is probably, kind of the next thing up we think. liz: okay i got 30 seconds. you're not saying financials is the next big thing but where do you look at financials at this point? >> financials are just, they're

the sector that both democrats and republicans love to regulate on this. one of the things they can actually all agree on. they're getting disintermediated in the credit space, low volatility period forting, that will probably be a crimp on profits. not that we hate financials. they're well-run, they're not very risky. we think we're in a good part of market cycle and they're unlikely to keep up. liz: citi the big leader today up 2 1/2%. great to see you, scott. folks here is the bell. that went quickly. [closing bell rings] we have the s&p at a brand new record as well as nasdaq. tomorrow after the bell we have got nvidia earnings. google, alphabet hitting an all-time high today. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. the prosecution and the defense have both rested their cases. the alvin bragg trial and trump is no longer, no, trump is looking stronger than ever, all

right, stronger than ever.