for the kitty cats. let's get a check on your money. it is the nasdaq that is still striving for a record here. the dow and the s&p also trying to poke up in the green. overall, it's sort of a broad but definitely a tech-led bounce. overall for the week, you guys, i mean, it has been wild. stocks are still mixed. you have a lot of interest rate worries but, again, you're seeing a little bit of those come down helping to boost some of these big tech stocks. jackie: it's amazing the sharp contrast between the dow over the course of the week and the nasdaq, obviously. brian: yep. charles payne, he knows that contrast, he's going to take us into the weekend in style. take it away, sir. charles: absolutely. thank you all very much. have a great 3-day weekend. good afternoon, i'm charles payne, this is "making money." so after a rough couple of days, we've got that summer vibe today, right? this ahead of a- 3-day weekend and maybe the message is investors should just learn to stop fretting and enjoy this unique period of american

technology and economic dominance. it won't last forever, but right now, wow. plus, there's no greater influence at this moment on the stock market than the assumption that powell and company are going to to cut rates. but what if they don't? and has the bifurcation between the wealthy and the working class grown to dangerous levels? i'd love to hear your thoughts on this. have we bonded blue collar america and what because it mean, tweet me @cbpayne. we all know freedom isn't free although we all kind of take it for granted. i've got a very special memorial day take on that. so much more on "making money." ♪ charles: so between yesterday's shellacking and this 3-day weekend, today, obviously, you know, it feels like that summer vibe kind of thing. you know, lots of folks have already taken off, and those or who are sticking around a probably mental ally checked out. still, this is a really important session. here's the thing, the real story

of this market continues to be nvidia and the mag if enough sense of america's tech sector -- magnificence. globally, the united states has outpaced the world when it comes to profit growth. i mean, really, we're just trouncing them. if you drill even deeper down, right, those profits have come from information technology. it's led the way bigtime. in fact, dwarfing everything including the s&p 500 itself. now, there's never been a period like this before, folks. i can tell you that. one -- where one nation has had the most dominant tech companies in the world. the second industrial revolution began in the u.k. with the rails. quickly, though, it spread to the united states, we took the baton. eventually our economy passed england. many takes on this, right, and and a lot of people take issue with it or or are upset. the magnificent seven, they're too big, they're too powerful. but they do account for3 1% of the s&p 500's market cap, and there's a reason for it, right?

listen, there's no doubt this unique period in human history should be reflected in the stock market, folks. but with it does skew investment opportunities elsewhere. and i do believe those opportunities are going to materialize and just take longer with respect to showing up in share prices. but at some point they will. meanwhile, the dynamics at least on a short-term basis means that you've got a couple of sectors hard looking a little bit lower here. overall, folks, it's all about the tech names. and i'm talking professionals who have made a big shift into these the names. in fact, take a look at this, i'm going to show you the ownership shift just from fund managers into a.i. and tech stock. we've got the model up there, near term momentum. we're going to show you where these tech names have been bout in the last year by large firms. look at this, a 19% increase in abgo. meta, 14%. susaner up 14 -- uber up 14%.

these are names that the big boys are buying. listen, there are fundamental reasons to own these stocks, but i also suspect the greater fool theory has a lot of weight with respect to the decision making process. no one wants to be left out. coming into today's session the overall bias, again, remains to the upside on a short-term basis. we're in the middle though of something historic. fighting it has been folly, right? and yet it still seems the me, to many, to be too good to be true. and those without exposure, you know, you keep hearing things all the time. well,, trees don't grow to the sky or nothing lasts forever. let's bring in bianco research president jim bianco because, jim, those sayings are mostly from, i think, people who have missed the magnificent seven. [laughter] they missed it. listen, obviously trees don't ultimately grow to the sky and nothing does last forever. however, you have an incredible knowledge of market history, and

i want to get your thinking overall in this phenomenal period that we're in right now with the mag 7 and the a.i. phenomenon. >> you know with, what's different about this period is that the concentration of the rally is from the largest stocks. there are countless number of periods in history where a theme emerges or an industry merges, and it captures everybody's fancy and it goes. it's usually very small, and it grows into something much bigger. it's almost unheard of to say let's do that with the largest stocks and make them even larger. that's why as i heard you say earlier people have a little bit of a fear about these companies. not about their lack of their profitability, but about the power and the control that they have because they started so big and they've gotten bigger. so its result is a concentration in this rally that we've with not if seen, you know, by some measures ever. that the s&p is up over 10% this

year, it's only the middle of the year. that's a great year. and half of it has come from four stocks. that's almost unheard of because usually those stocks that are having a huge year are not the biggest ones. they're small stocks so they don't have much of an impact on the index line these stocks do. -- like these stocks do. charles: and yet nvidia is a remind orer that these companies are something special. the kind of money that they're making, how they're really changing our lives, having this material impact on our lives. i mean, to a degree it's hard to argue that should not be reflected in the market, right? >> oh, correct, absolutely. i mean, nvidia's got products, and a lot of these other companies have products that are almost must-have. if you are a large company thinking about getting into the a.i. space, you must have nvidia's product if you looking to advertise a product to a broad-based segment of the world, you must have something along the lines with meta. and so you could kind of go on

and on with a lot of these companies, and that's what's been so unusual and made it so difficult for professional managers. because professional manager if usually like to look at things like value and management and strategy. and if they have not been all in on all of these large companies the whole way, they underperform the index. and then the whole idea you don't need active management, just buy the index, the index always wins, and we're kind of in that virtuous cycle. charles: we know this week is is maybe a reminder even more than the mag a mag a enough sent seven, the greatest influence on this market is the assumption -- i sea not that the fed if is going to cut, but the assumption that the fed is going to cut. even if it's just one cut. the rally's been sustainable. what if it becomes too obviously that they can't cut this year? >> yeah, i mean, it, you know, it is really going in that direction because wall street

forever keeps pushing off that first if rate cut. now all of a sudden we're start to talk about september, and we're maybe talking about november if, and i joke that, you know, get to the fourth of july, we'll be talking about november and december, and the cycle just continues. but for right now, the state of the economy is too strong and the data is, you know, i want to say too sticky on inflation to really be talking about rate cuts unless we start seeing some real weakness in the data. and to go back to our earlier conversation about these companies and the stock market moving ahead, we're not seeing weakness in this data right now. chals harls no, we're not. jim with, thank you so much, my friend. have a fanta tsa thetic weekend. >> thank you. you too. charles: so when it comes to the stock market, the street, of course, has been hoping for a broadening of the rally. and and it's happened periodically, right? then all of a sudden it doesn't. take, for instance, this equal weight rally, the equal weight market. it's been pretty good.

but look at a this. we are still trailing the s&p 500 with the so-called equal weight by a historic margin. then there's the energyally. remember that one early in the year? nothing could stop these stocks. now all of a sudden that's dying on the vine. and still, to jim's point, i mean, as an investor professional or novice, you want some diversification, right? my next guest says there is a decent market babb drop for moderate gdp growth request, solid earnings and still an inclination from the federal reserve to cut rather than hike. let's bring in wealthen enhancementment group senior portfolio manager. yo sr. hi if to oka. am i right? i'm sorry i blew that a little bit, here. let me ask you this, jim kind of brought the point up, and and this is the what i don't understand. there are the so many folks on wall street who keep saying the economy is great and the fed is going to cut.

is can they coexist? >> you know, charles, it's a great question. they can coexist, i think, because ennation is no longer above the fed funds rate. so now that we've got interest rates that are higher than where inflation rates are, i think there is some room the to at least do one cut in 2024. charles: so we had ralph bostick who's just the latest big time official, the atlanta fed, to sort of say, hey, the u.s. has not passed the or worry point for inflation. let's just say we do get there, we get more economic data over the next month or so and it bomb becomes sort of the conventional wisdom that there's no rate cut thisser year. how does that impact the rally in maybe they'll start saying we're in january 2025. >> as jim mentioned in the prior segment, the interest rate cut expectations continues to get pushed off. however, you know, we kind of

lean into the fact that the fed has has really said that interest rate hikes are off the table. and so at some point we are going to get this interest rate cut, and i think the markets can continue to rally within that framework especially a lot of these growth names such as the tech companies that aren't as a interest-sensitive as we've seen before. charles: to that point, i read you were trimming some tech exposure withs -- expose writer? >> you know, we like diversification here, so we believe in the long-term value of technology, but we also like to sort of, you know, have that full diversification in a portfolio. typically, you know, energy, financials and industrial are strong sectors especially in an election year. they tend to be the up on average over 9.5%. and so we like having that sort of bar bell of both technology and some of these value-oriented

sector it is. arnold schwarzenegger charles and i know you're being very specific. for instance, we're going to put up three ideas that you like here beginning with microsoft, but you also a like tj max and honeywell. >> absolutely. so microsoft is the poster child for diversified, long-term technology. they've got exposure to artificial intelligence and the cloud, with as you're. -- as your. tj maxx is a great way to invest in the consumer. the consumer's been troubled with these high inflation if rates but, you know, as we saw with walmart talking about how even the higher-end consumer is looking to find value and bargains, we think tj maxx is a great way to do so. and lastly with honeywell,s it's a great diversifieded industrial company. they have great exposure to aerospace and den february. and this is the an after-market business that continues to, you know, grow with the repair and maintenance if needs of aircrafts. so we like honeywell for the

long term as well. khat charles all right. thank you very, very much. have a have a great with weekend with. talk to you again soon. >> thanks, charles. charles: all right, folks, buying the dip, you hear it all the time, but what exactly does it involve? you can't buy the dip every day, right in we only have a certain amount of money. vick to torreya fernandez is going to walk us through the three signals that you need to get before you pull the trigger. she'll explain next. ♪ it's going down. ♪ i'm yelling, timber! ♪ you better move, you better dance. ♪ let's make a night you won't with remember -- ♪ i'll be the one you won't forget ♪

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charles: lots of people feel like hay missed this rally, so they're waiting for the dip. it's easier said than done. my next guest says there are three stages that you want to watch for before you buy the dip. crossmark global investment chief market strategist victoria fernandez joining me now. victoria, there's one thing i used to get really frustrated, when i would see someone come on on the show and tell the anchor, well, you know, we're going buy the dip. all right? if you can't -- and people watching can't buy every dip. so rhetorically i was asking

going into brach, you know, where do you buy the dip, what is a dip, first and fore most? bradley, one of our viewers, said, okay, mentioned that maybe kenny said you want to back up the truck when something you like gets down 15%. do you have a hard number when you begin to think about buying the dip? >> it's not necessarily a hard number, charles, it's really looking at the path the market has taken. is so you typically have three stepses. you usually have an initial pullback. we've had that, right? if s&p came down a 5.5-6% or is. then you have a bounce, and i think that's where we are now. nvidia, obviously, helped with that bounce. but minus that, only about 12% of the russell 3,000 actually has been advancing. but the third step is when you have the bigger pullback which in our opinion leads to what we call a tradable low where you can go in. for us, that's probably around the 200-day moving average, for the s&p around 4800, but it's really folk to be triggered by

the consumer pulling back which is going to come from weakness in the labor market. so let that labor market be your canary in the coal mine, watch the weakness in the consumer. you and i have talked about the difference we've seen between middle and low income consumers that are already in recessionary territory versus the high income consumer. watch all those elements. that'll tell us when we might get that larger pullback that we can trade on. charles: in the meantime though, what do you do? do you say 1000 invested in this market? $-- 100% invested? >> we try to stay almost completely invested in the market. it's where you're invested that makes a lot of sense right now and is the important part. and, you know, we say on updates go in and trim a little bit on names that have done well and then find those areas where the market has pulled back a little. so you want to be invested to take advantage of the upside. but your previous guests have been talking about the diverse

diversification being in different sec fors, that's what you need to do the -- sectors. that's what we're trying to do for our client both in the equity and fixed income markets. charles: and, you know, i know that you're looking at some cyclical names here. you like financials if industrials. you also like utilities but again, i think, on a pullback. they've had a huge run. the narrative has changed around them to. the reason to buy them is no longer for being a triggal safe haven, but -- traditional safe haven but because of this electricity crisis we're going to have because of a.i. and all these other strains on the grid. why not just buy if them right now anyway? >> i mean, look, you never want to go in and buy full positions all at one time, right, charles? you can dip your toe in a little bit when there's name that have pullbacks. we've seen it across different sectors. we like even in health care you can see it, we like the name gilead. it's down 2% over the last month. you've got a low pe, about 13

times. strong cash flow, price to cash flow is actually below 10 time, and you're getting almost a 5% dividend. so on a name that's pulled back 32% over the last month -- 2%, you can go in and start position. the same with rue tilts. -- utilities. when you see names pull back when the rest of the market has gone higher, use that opportunity to start a position. charles: and i know youal like ibm and american express here as a well, right? >> i do. i know people probably roll their eyes at a ibm, but it's trading around 17 time, it's got about a 7-10% higher price target than where it's trading, so think of it as a long-term holding in that tech space that has room to grow. and we talked about the high income consumer being the one that's really supporting us right now. middle income consumers actually have a confidence level back to where it was in the first quarter of '008, and american express day -- caters to that

high income consumer. trading at a around 17 times, so a great name for your portfolio. charles: i was just looking at the ibm chart. listen, they rode the a.i. train all the way up, stumbled a little bit and pulling back, and this fits what you were telling us earlier in the show. victoria with, have a fantastic weekend. thank you so much. >> thanks, charles. charles: so my next guest says there's way too much the trucking capacity, at least on the domestic side, but what's going on otherwise? supply chain issues. supply chain, is that resolved? if what happens with tariffs? no one better than craig fuller to break it all down for us. the state of the economy. his inside look is next. ♪ life is a highway, i wanna ride it all night long ♪ if you're going my way, i want to drive can it all night long ♪

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charles: all right, whether it's by air a, by sea, by land, no one knows better than my next guest how it's getting to you and how much it's going to cost. it's coming on freight. as a matter of fact, one of the thing we're seeing already is major with moves within the trucking area that have an impact -- impact one way or the other. i want to bring in freightways founder craig fuller.

you know, everyone was talking spry chain for a while there, and and that's kind of -- that has subsided to a degree. but freight in and of itself is still such an integral part of this economic equation that i don't think with gets enough visibility. i don't think we talk about the it enough. war we now in the -- where are we now in the grand scope of thingses? >> it's the backbone of the physical goods economy. what we're seeing is a really interesting dichotomy between the international ocean container or market which is doing really well for oceanen container movements, the ocean container lines have been anal to really control pricing and, actually, we see significant price increases, and the truckers are really struggling. and that's an overcapacity situation. so the ocean container lines have been able to put a lot of pricing power because they have so much market power whereas the truckers have not. charles: feels like there's only two or three flames. is it a a cabal to begin with? >> i mean, it's a cartel. [laughter] if you look at the ocean

container, they have more market share than opec if has of the global oil trade. and they do the same thing, they pull capacity off the market, and that gives them enormous pricing power. charles: the most recent class a truck the orders, they've been coming down pretty significantly. i always kind of use that as a gauge of confidence as well. you're not going to order a big rig unless you think you're going to use it. with but even deeper inside the trucking industry you've got these lto, what's that, less than truckload? these stocks are through the roof in the last year. xpo's up 120%. on the other end of that, these truck operators are getting hammered. what's going if on? >> the folks basically with a single truck really struggling because anyone can buy a truck from. 2019-2022, we saw 28% more trucking comes enter the market, whereas the lto to market, it's very difficult.

you have to have a network, you have to have facilities. the hto operators basically have an enormous amount of price power p have a significant moat. gal low, which was one of the largest lto -- ltl provide orer in the country wasn't object -- went out of business. the truckload market continues to fragment and expand. charles: so we've got j.b. hunt down about 5, schneider down 12%. you know, we just had a segment on buying the dip. me of those look intriguing to you? >> i don't make specific stock picks, but you would say you want to look for diversification. j.b. hunt probably has the strongest business mold z in terms -- model in terms of diversification. as the market return, j.b. hunt should be a primary beneficiary of that. chicago chicago so as this middle east turmoil continues the linger on, we know the suez canal, the traffic there has

slowed dramatically. i was looking at a chart last night or this morning, short and long-term market rates coming out of east asia to the united states, they're beginning to spike higher. why is that? why is that happening now? >> well, the ocean container lines are basically using these attacks and all the geopolitical issues to really institute significant price increases -- increases on their customers. so they're in many ways taking the stance that they're pulling capacity off the market as they have to go longer distances is and not through the suez, it increases the time. it's all a matter that the ocean container lines are disciplined much like the airlines learned it in the 'to 900s, the ocean lines have learned they can't have pricing power, and theyup shouldn't flood the market full of capacity. charles: i shouldn't let you go without asking -- well, we know no matter who's elected, we're going to have more tariffs, and the near-shoring movement has picked up steam. initially, it felt like

corporate america pushed back on it, now they're trying to 'em embrace it, and there's got to be some winners. >> anybody moving circus freight, because it's going to move into that knot-south concern north-trade. so the companies that are heavy in intermodal a, that's the railroads, particularly canadian pacific-kansas city when they merged, the largest player there, and when you looked at restructuring of supply chains, it's the industrial reits that benefit z because not only do you need traffic moving that way, you need warehouses and distribution center os the drive all of that movement. charles: from your vantage point, how would you describe the health of the economy right now? >> from the goods standpoint, the volumes are decent, certainly up from where they were last year. inventories have been, a lot of the retailers have drug down inventories so that actually hooks pretty healthy. i think for our industry

specifically, we need to remove capacity, and we'll is have a good rest are of the year. charles: all right. good stuff. so the fed and the biden administration, are they at odds? barry knapp reads the tea leaves better than anyone else. fiscal policy on one side, monetary policy on the other and, guess what? you're stung in the middle. let's, listen to his -- tuck -- stuck in the middle. let's listen to him next. ♪ you're the sunflower, you're the sunflower ♪ voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected.

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charles: all right, look at this chart, folks. this is, what you're looking at is corporate bonds are at their cheapest in decades when compared to the stock or stocks, rather. what does it mean in terms of investment, what is the economic message? if obviously, there's something else there as well. we're lucky enough to have macroeconomics managing partner if in studio, barry knapp. i love our conversations. now, 50% of the time i understand them -- [laughter] but overall a, i always love them. when you see that chart, do you see opportunity or do you see a warning? >> that chart is all about inflation. charles: right. >> because when you think about corporate bonds or treasury bonds, those are nominal assets.

we used to joke with all the time at lehman brothers that fixed income if guys were always negative because the best they could ever get was par, and equity guys can, bity people can get more than par. so what that's reflecting is higher than expected inflation. you say, okay, the fed kept rates attar officially low for the last decade, that's why the risk premium was elevated. stocks were expensive and bonds were ridiculously expensive because the fed was holding rates below where they would have otherwise been x so equities appearing expensive to bonds is really more about expected inflation if this idea that, yeah, go ahead and buy long-term corporates or long-term treasuries and have inflation run at 3.5% and see what you get back in so years, you know -- 10 years, you know? charles: and yet it's perhaps the most popular trade on wall street amongst the the experts. everyone says it's free money, you've got to load up on them

right now. a few folks have talked about a secular bear bond market, but for the most part, all these experts that come through here say buy the 10-year right now. >> yeah, i'm not one of them. i'm in the jim grant, you know, camp on this. i made a call back in 2020 the that the end of, you know, it was the end of the 39-year bond bull market, and much like after a world wore ii when we -- world war ii when we had expolice set rate caps and it took 30 years for banks to widen town their excessive holdings of treasuries from world war ii, we had a series of higher highs and lower lows in treasuries. and i think we're going through the same dynamic now. the only thing that can prevent that is the economy crashing, and it's hard to envision chen we're running 7% budget deficits at full employment and government can spending at 24 percent of gdp. for me, inflation is going to be persistently higher. the bond market is in a structural bear market, and if you want to be long treasuries,

for me it's don't touch. next week is belly week, right? 2s, 5s and 7s, i don't expect it to go well. chars charles i teased this segment by talking about the battle. the federal reserve has its mission, the biden administration has its mission. their mission is to win an election, and also pushing through, i think, a different economic ideology which is essentially big with government can print bigtime money. and it's not making the fed's job any easier. and then, of course, to your point, these auctions are just enormous. now, i know they've kind of gotten away from fewer 10-year auctions, bond auctions and more notes, but doesn't that give it more egregious with respect to the american taxpayer? we're paying out even more money with these shorter term durations. >> correct. and given expected trajectory from the cb if o running these deficits throughout the 101-year time horizon -- 10-year, the fed

if should surely be -- or the treasury, excuse me, should be terming out the debt. this morning governor waller released a speech, sort of an esoteric speech on the theoretical neutral rate. get to the end of that speech, and he starts talking about the supply of treasuries. the demand for safe assets went up a lot after the global financial crisis, and the fed if increased their balance sheet. but he's talking about that supply getting bigger and bigger and bigger. that, to me, was one of the first fed officials to hint at what the real issue is. and while they'll use the term sustainable or unsustainable, what they really should be saying is inflationary. that's the true story the of the '600s and '70s. running those deficits drives that cost of debt up, runs inflation up, and that's the intractable problem. charles: a lot of folks are saying that the warning about all of this supply hasn't necessarily materialized. there's been one or two bad auctions, ill-received auctions,

but, you know, for whatever returning the why withiers continue to step up. and they're not necessary thely demanding higher yields just yet. >> i don't think we're on the verge of a european-style debt crisis, you know? looking for an auction to fail if like -- it didn't fail, but in 2011 when our credit rating got downgraded and a 300-year -- 30 feel fell 10 is basis points, that's less probable than continuing the move rates up over time. i would argue there's been a couple of really serious warning signs already. after the passage, actually, from the day when the republicans lost the senate, january 4th, 2021, through the signing of the american recovery plan you moved 30-year real interest rates up 60 basis points on a line. that was sign number one. yellen cut issuance, the market calmed down. charles: yeah, yeah, yeah, yeah. >> sign number two was last august when they announced they had another $500 billion for sale and treasury yield withs

moved straight to 5%. the fed pivoted, treasury issued more bills, they calmed it down. it's moving again. now last month we got some favorable economic data, but celeste say payrolls are strong in a couple of weeks' time and cpi doesn't print at two-tenths, it prints a four-tenths. next thing you know, we'll be right back at 5%. the u.s. isn't going to have a sovereign debt crisis, but rates are headed -- charles: eve got 30 seconds. a lot of folks saying this is just normal. go back 100 years, if you drive -- draw a straight the line, 4.5-5 is normal what's wrong with that? >> i agree, and that's why i think you should be long are equities because most of the markets can live with this just fine. industrials, energies, materials, companies with high fixed costs, running inflation at 3-3.5% as long as it's stable is not a problem for those companies. and so that's why equities can

do just fine like they did in the '60s in higher trend inflation. it's when it gets out of control and volatile that it becomes a bigger issue. charles: great stuff. barry, great seeing you with. by the way, i understood 90% of that. >> i did well. [laughter] charles: we do know it's a critical time for the economy expect market, that's why i invite everyone. i write a daily market commentary every day. i start working on it as soon as i get home. i love it. i have my own ideas. so get a chance, go to work street.com, check it out -- can wstreet.com because it's free. what's also free a copy of my booker "unbreakable investor." go to unbreakableinvester, it's a $29.99 value. i've got a chapter in there on nvidia. i've got a chapter on the federal reserve, i have a chapter how you can find stocks in your every day life, and my case study is a company called toast. check out that stock.

all right, america calling it quit withs, folks. that's it. those are your dating apps. how the heck do you find a mate? my power panel right after this. ♪ muck finish if. ♪ ♪

charles: all right, so a new you are survey finds that 54 of american identify as a being part of the middle class. that number's been more or less steady since 2012, but the real news is the nuance of all of this. take a look at this. st the political breakdown. in 2019, 46% of democrats identified themselves as working or lower class, only 35% feel that way down. -- now. on the other hand, 34% of republicans considered themselves working class back in

2019, and now it's 46. that's a huge transition. joining me now, manhattan senior fellow allison trager and, of course, the cohost of "the big money show, "taylor riggs are. taylor, i've been saying that the biden democratic party since this 2019 biden party has become the party of the elites whether it's giving money for evs, paying off your college loan giving couples making $3000 grandchild tax credits. if. >> that's sort of the new shift in this new democratic party where it was not sort of the democratic party that we knew grew r growing up. and republicans, i think, are switching when you look at this grassroots effort that i think you associated more with obama, right in and now all of that, sort of that grassroots, individual energy is going more towards the republican party. charles: madison?

>> yeah. i was out there the last night -- charles: yeah, you were. >> i was. the thing with the economy is for those at the top, those in the market, they're doing well. and luckily, unemployment is low. that's great. but what i heard from those in the bronx is they're voting because of the economy, specifically prosperity. they want that paycheck to actually go somewhere. so they're getting a paycheck, that's great. but if you can only use it on your energy bill and you can't buy with your groceries or pay for gas, that's when you run into a problem. how far is unemployment getting you, and republicans are speaking to that. charlesalson, one of the intriguing as aspect is the the policiesing with used to sort of hold inflation back, these higher rates, are actually exacerbating some of this divide because some people at home clipping coupons making 5 percent and going out and spending that, and other people are going to the store and if they can't pay -- a gallon of milk costs a lot more than it did four years ago. >> and they're constantly being

told they just don't understand how good they have it. there's no denying how much more groceries are costing, and the higher interest rates, while they are supposed to bring inflation down,ing also a make things like car payments a lot more. and also, i mean, any way we do a contractionary monetary policy, we have this expansionary if fiscal policy. more student debt forgiveness which just makes inflation even worse. >> i still like that you think we're at home clipping coupons. >> old school clipping. charles: rich folk coupons. so the irony is that earlier this week the fed released this poll. what's the large surprise bill that you can cover. if and, you know, these polls are always shocking. i think, i guess whatted stood out to me is 18% said the largest surprise bill they could handle with only their savings, allison, is $100. that's scary i stuff. >> yeah. i mean, one thing about this survey is it always with savings you have on hand. so when you look at it as, you

know, what can you actually cover, a lot of people put it on credit card or take out a loan which isn't great -- charles: right. >> but it's not quite as bad as it looks. another thing is it's not getting worse with, at least -- [laughter] they haven't increased these with inflation. so, i mean, $100 doesn't mean as much as it used the. to. charles: so you're saying realistically, it's 250. >> if you think about the fact that someone would need a credit card for a $1 1100 expense -- 10000, now, maybe you don't carry $1000 in cash, but if you say 100 or more and i'm going the need to put that on credit card, that is alarming. that is really concerning that that is the threshold. >> i also read a similar survey from bankrate because we were talking about car maintenance repairs that are up 20% with inflation since january of 202, and the cost of everything else has gone up. and they said about 56% of their viewers couldn't afford anything

over $1,000. that just totally wipes out their financial position, and the cost of everything around them has gone up. charles: and that car shield commercial, they run that 24/7. i didn't realize that, you know? i'm going to skip to the dating app stock. >> let's do it. charles: we're going to put up the chart for the folks. i mean, it's amazing. match group, their stock is down 80%. bumble, their stock is down 83%. madison, what happened to the dating app scene? >> okay, so -- >> [inaudible] >> i won't comment on my live relationship status, but eve been a user. there's a couple of things. match, they own 45 dating apps, so i think competition is normally a good thing. they own tinder, a loft the popular apps. so so there's not as much competition within the apps themselves as we were seeing when they first came on the scene. another everybody shoe -- issue, you get on a dating app, you're

a good match for a person, and and then you meet someone, and you get off. well, you're losing your users because you'ring being withing isful. that doesn't mean if good margins. charles: yeah, i gotcha there. i guess, maybe, you know, listen, you can't put in your dreams person, and that dream person puts you -- it's supposed to be perfect. maybe they're working too well. >> or i think it's just on the one hand it's great because you meet all these people, but you also meet all these people. [laughter] you have to go on a lot more bad dates, you know? i think another issue is it seems like this is the evidence that it's now becoming taboo to approach someone just in person -- charles: really? >> this becomes the only place you can meet people, and you get less screening than when you meet someone in person. >> there are also a few apps that are free, and i'm dating myself -- pun not intended -- because i used the apps many, many, many years ago. there's a free version and then

there's the extra one that you would pay for, where you can make improve the quality of the people that you meet. so maybe people -- charles: they got, like, a filter for psychos? [laughter] >> they're trying to, you know, you're working with an inventory, people go off and you maybe replenish, but ideally, they want people to go off. they're probably withholding the best matches behind that paywall, but the reality is this is how people date today. 1 in 10 adult reigns, that was built onen app. charles: again, you put in your dream mate, and that person's supposed to pop up. all right -- [laughter] thank you very much. by the way, i do want the take a moment to remind everyone that this memorial day holiday how old not be with taken for -- should not be taken for granted. we mourn if military ors personnel who died certaining our country in the -- serving our country in the armed services. not all deaths in defense are instant. scars from the battlefield continue to linger, and they do

consume our troops. last sunday i was able to see my father's headstone for the first time since his burial. it was very moving. lots of regret for time that we did the not spend together of he was a very different person when he came back from vietnam, our family was ripped apardon. -- apart. there is still so much sadness. and what i want to do is say let's horn those who died while serving our curve, i -- country, but don't forget those who are living. pat them on the back, say thank you whenever you see them. over to liz claman. liz: second that. thank you very much, charles. all right, everybody, it is getaway day ahead of the long weekend, but you've got to hang out with me because we still have one hour left to trade. what has been one wild market, the craziness continues at this hour for those of you who thought yesterday's late day selloff was the start of a bigger correction, witness the nasdaq blasting higher right now if by 166 points can and on pace to close at an all-time