buyer. charles: where are you on inflation and the fed -- >> i think we may get nothing until next year. charles: you okay with that the? >> i'm okay with that. charles: target, ally, nvidia with and amazon. target, is this some bottom fishing here? >> absolutely. this is a stock the i'm buying as a value play. this is one of those if i'm wrong and if the consumer is struggling, they need discount place to go is and find good value, and this is a stock that trades at under 17 times earnings. nice 2.7% dividend, that's a value may, for sure. charles: eventually, it will come back. you'll wake up one day, target will be back at an all-time high. good to see you again. >> going on 10 years, this is awesome. charles: it's been far, far too long. all week we'll be celebrating 10 years of making money and trying to live up to the hype, right, liz? [laughter] liz: always. listen, you are -- it's so great to see a decade of this show, charles.

much deserved. charles: thank you very much. liz: folks, the nasdaq is about to smash another record. so is one particular stock, that has driven much of the rally. we do have weakness in the dow and the s&p. but we do want to get you an upa date from the trump criminal trial in lower manhattan. the prosecution now beginning its second hour of closing arguments. former president donald trump is charged with 34 felony counts of false iffying records in relation to a hush money payment made to porn star stormy daniels who alleges she was given money to stay quiet about a sexual encounter she had with trump. prosecutors allege trump violated election laws by concealing the payment in order to protect himself from damaging information ahead of the 2016 presidential election. but either way, we do need to met you know that we are hearing these argument as will stretch until the end of the day. by the way, the jury said it's willing to stay until as a late as 6 p.m. eastern. either way, the jury most

lightly will not get instructions until tomorrow, but anything cold happen. coming up, what we're going to do is get you a live report from the scene with any breaking developments. to the markets and the nasdaq's record run although in the last hour, it lost much of the gains and dipped into negative territory. right now we do have it up 47 points. the tech-heavy index pierced the 17,000 mark for the first time ever right at the open. nasdaq is on pace for its 12th all-time record high this year, and any gain will make the history books. so right now with a 50-point jump, we shall see. we've got some weakness, as we said, with the dow jones industrials. the blue chips at the moment losing 3298 points -- 298 points led lower by merck and amgen. no real news on either of these stocks, but moderna is getting slashed and is the worst performer on both the s&p and the nasdaq 1000. no moderna falling about a 9.6%. no real headlines there either, but after 10 straight sessions

of gains, no surprise we're seeing some profit taking in that name p. so stocks may be move being on little to no headlines, but nail-biter news is coming this week. we've got two major, potentially market-moving data points; namely, the first revision of first quarter gdp. that's thursday. and then friday, the big kahuna, the federal reserve's favorite inflation gauge, core pce for the month of april. and while we're almost done with first quarter earnings season, some retail heavyweights are about to report their numbers. among them, dick's sporting goods, abercrombie & fitch, kohl's, best buy, foot locker, gap stores, all that and and nordstrom. been ulta. one name reigns supreme this session with let's call it 58 minutes left to trade, a.i. chip leader nvidia is on track to crash through the record wall again. what is behind this 77% gain that we're seeing right now -- t the overall market sentiment and

where you should be investing? interactive brokers' chief strategist steve sosnick and jeff see a ca to make sense of it all. steve, once again we see this leadership from technology but mostly nvidia. is it worrisome or do you just give in to the tape that you have a very small group of names leading this rally? >> well, good afternoon, liz. i think it's a little bit of both, actually. to me, it's nvidia's market, and we're just all trading in it. in some sense this reliance on nvidia's a little scary because it's great when it goes up 7%. if and when it does ever start to correct, and that may not be until after a it splits on june 10th, but let's just say if this ever turns around, i shudder to think what's going on because i think it's scrubbing -- sucking in a lot of money from other places. that money, i think, is flowing out of stocks into with nvidia chasing the momentum. that's great until or unless

this comes to a halt. liz: well, it just looks like investor, jeff, are primed to get into stocks at a very time where we've seen that happening month after month after month except for pretty. what do you think? >> well, i moan, yeah. and i think -- i mean, yeah, just like steve said the fact that nvidia has captivated investors, if you even look at the crew tilt stocks that supply if energy to data centers, they're the leading performer in the s&p 500. think about that, liz, the leading performer in the s&p 500 outside of nvidia are utility stocks -- [laughter] liz: i know. >> when everybody, when i talk about utility stocks, i could put a whole room to sleep. [laughter] now all of a sudden you're looking at stocks like constellation energy, stocks that are approaching these astronomical valuations because they're just plain if a.i -- playing a.i., and this is another way to play a.i. and like steve said, there needs

to be a broader interest for investors to feel -- liz: well, steve, you like utilities here. partly because of that, but any other reason? the dividends sure look good. specifically, constellation energy group, that can be top-heavy. >> to jeff's point, this is the thing, i mean, i kind of like the idea of dividend-paying stocks. even though they're a bit interest rate sensitive from time to time, i like getting paid. there's nothing wrong with that. but this run they're on is crazy, and it's also fed into the price of copper which has gone nuts. liz: yeah. >> and, you know, it takes a long time to translate from wanting to build electric power to actually building it, so i think the market may be ahead of itself there9. that's where we get into these issues, and there's nothing wrong with taking the boring money in utilities, but i think when it gets too exciting, that's when i worry. liz: maybe we can stretch out this constellation energy group chart well beyond just one month if jeff. that a said, as we look at a it

sort of superimposed over nvidia and the demand, you want to talk demand, elon musk announced -- or at least, yeah, he basically said that xai, the the version that he is going to bring up he expects will probably take on chatgpt, will be powered by nvidia chips. tens of thousands of them. so there's your runway for earnings for nvidia in the future, right? >> it is. and the fact that you have alphabet, you have microsoft, you have amazon spending tens of billions of dollars on these chips, i got into this stock in 2018. the year i bought it the stock fell 35% -- liz: which one? nvidia. liz: nvidia, okay. >> nvidia and the stock fell 35% because then they said they only make chips for video games. now they make chips for everything. and what i think is the advantage to nvidia is jensen wang. he is a brilliant ceo. he took this from the ground up and made it what it is. i think he conveys, he

communicates his message if right, and i think it's got a ways to go. but when you're looking at -- right now nvidia has a chance to overtake apple. liz: okay. >> i mean, let that sink in. liz: okay, let that sink in, but also let sink in that investors seem, as we say, very primed to drink from the stock market fire hose, steve -- >> yes. liz are they too complacent? are they too bullish? you believe they are. >> yes, i do think there's a lot of signs that are starting to show this. we see, first of all, vix we see at a rock bottom, below the teens, sort of 11, 122, that's telling us there's not a lot of demand for institution thal hedging which means institutions are quite sanguine. there's also a lot for sale from etfs all the time. we see -- saw, you know, citibank has the -- tobias index. that is showing euphoria. it's done it about six times before, and one of them have ended well. in the bank of america survey,

portfolio managers are holding about the least amount of cash they have in three years which goes against the cash on the sidelines ideas which is fine, i guess, if retail puts cash in. but if institutions are standed out, that's not -- tapped out, that's not a lot of money coming in. liz: let's say people are a little concerned that we are maybe heading toward at least some type of recession which would be totally natural. in fact, we are ash by over-- arguably overdue. we've got the 2-year blasting to 5% at the moment and consumer confidence came out today, and consumer confidence shows much better than expected numbers. so do you have allocation of a little corner? or are you a stock the guy all the way? >> no, i'm a stock guy all the a way. the bond market now concerns me. i've been buying the utilities, like steve said, i've been buying the utilities for income spsm just to go along the topic of complacency, i mean, this

market has been so geared towards a.i., number one, and the fed lowering interest rates. there is a bet that the fed, even though we're seeing these numbers that don't necessarily support an interest rate cut, there's a lot of investors who are banking on an interest rate a cut, and i think they're going to be very let down. what concerns me is consumers are still spending, but heir spending off a of their -- they're spending off of their credit cards. and credit card debt right now is higher than it's ever been in history. i think there's going to become a point where the economy and the stock market converge because right now the economy's doing lousy. the stock market's doing great. and i think there's going to come a day of reckoning where the market is going to realize that the consumer is 70% of this economy, and the consumer needs to recover. liz: uh-huh. although i would just say durable goods numbers which are big ticket items, those sales came in very strong last week. so, you know, the data in many

cases do show the economy is not lousy. i want to thank you both very much. we are looking at a 291-point loss on the dow jones industrials, steve, and, of course, mr. sica. jeff sica. great to have you both. big money, we were just talking about u.s. treasuries? big money finding big returns in what some would think would be an unlikely place. we'll tell you where one of the wealthiest enclaves in america is putting its money right now and already seeing a significant payoff. we're about to introduce you to the man who's helping the ultra-wealthy invest in a a unique international, not u.s. product, but you can invest in it too. that's next. the schwab international equity etf up more than 12% over the past 52 weeks. "the claman countdown" is coming right back. don't go away. ♪ ♪

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liz: israeli military said it is investigating the cause of a fire that followed an israeli airstrike on a hamas compound in gaza. the strike killed two senior hamas if militants but may have triggered a fire that engulfed nearby tents of displaced civilians. israel said it is not clear what caused the fire but the that hamas weapons and explosives were possibly stored near the compound. the military official said it used small, targeted munitions for the strike, too small to ignite a fire of that scale. after mounting international criticism, prime minister benjamin netanyahu said that the strike which led to the loss of civilian life was a, quote, tragic mishap. israel continuing its ground offensive in southern gaza to eradicate hamas if after the terrorist group invaded israel,

attacking and murdering 12000 -- 1200 people, mostly civilians. in a financial sign of support for israel, the country's version of treasury bonds have seen unprecedented interest. israel bonds are basically a loan anyone can make to the state of israel to help strengthen its economy, and since october 7th and the slaughter and the attacks, israel bonds have seen more than $3 billion in sales, nearly triple its annual average. and 1.7 billion coming from the u.s., specifically -- interestingly enough -- palm beach county, one of the richest enslaves in america already seeing a multimillion dollar return after a piling into the high-yielding bonds. here in a fox business exclusive is the president and ceo of israel bonds, donny nave. what do you put behind this sudden interest since october 7th in israeli bonds? because it's not just coming from the coasts, as you would say. it's coming from a whole one of

different -- bunch of different countries, 35 states here in the u.s. including the heartland. >> yeah, it's really bipartisan. you can see democrats and republicans, institutional investors and retail sales, all from two sides of the aisles. and what you can see is those $3 billion, really record-breaking numbers, almost three times our annual average sales, it comes from people who say that by investment in israel bonds, they, first of all, there deliver the message that this time of need the state of israel is not alone. they provide funds for the united states' best ally in the middle east x they get nice and steady, strong returns. liz: that's what joe abruise sew, the palm beach county comptroller, said was the very reason he piled in. wasn't political. he said my duty is to the taxpayers of palm beach. let's talk about the yields, because i want our viewers to understand. the yields are higher than u.s.

treasury bonds. and there are different tranches here. there are the jubilee bonds, and we can put this up, the 2-year, 5.12. meantime, 3-year, 5.22. 15-year, nearly 6% here. you're limited though, i think. this -- you have to buy in tranches of minimum subscription of 25,000, right in and then you flip it over to the mca bee version of the bonds. talk about that. >> we have all a kind of bonds, you know, with different maturities. 2-15 years. and you can buy $1 million, you can also buy $36. you can buy what we call the -- bonds, you can buy very small amount of money, and you can get 6.27% these days for those 5-years bonds. you know what? many people, when they buy bonds, they build a bond with the state of israel. they become partners of israel's

season success story, and especially these days we have been seeing support from all a over. by the way, we are a global company not only from here in the if u.s., also in canada and europe. in other places. people find as the best way to express their support for the people of israel today. liz: so the mazel tov the bonds -- [laughter] i love the name. the minimum subscription, you can get in for $100. the yield, 6.17% -- >> 6.27% -- liz: oh, as of today. mass el, it's offline. you can go online, you can go to israel bonds.com, you can purchase the e-mazel and get an extra 10 basis points -- liz: by the way, you have to hold it until maturity. >> yes, that's right. but you can get e the yields twice a year. liz: look at the map here. illinois, texas, florida, as we already mentioned, new york. these are the states that are investing the most.

nevada, pretty interesting here. but some of these counties who are buying these for i municipal reasons, because they love the returns, it's interesting, they are coming under scrutiny by some people who don't love this. i believe the that -- palm beach county resident, at least 50 of them are suing. they don't like the idea of their county using taxpayer money to buy israeli bonds. what do you say to that? >> i would say that those small, noisy bunch of anti-semite groups. and what we have is to the other hand of the enormous support that we see is from all over. not just from those institutional treasurers, democrats and republicans to buy bonds. by the way, treasurers of local governments, since october 7th they bought about $2.7 billion of israel bonds. an expression of support for the united states' best ally in the middle east. and you can see enormous if

support are from retail in this. all over the world and, of course, especially here in the united states of america. liz: about 70000 million of -- 700 million of palm beach county's portfolio is invested in israel. but i want our viewers to hear what the return has been. it has helped during the tenure of joe ab if ru, and, and o, it has helped him bring the annual income of the county from 27 million to $173 million. >> which means that it's not just the support for israel. liz: exactly. >> a guy like mr. abruzzo has his own fiduciaries. and he can show his taxpayers that they get a strong return on their investment. and this is why israel bonds is, first of all, about support for israel, about support for the jewish homeland especially during these difficult times as we have been facing since hamas' vicious terrorist attack on israel. on the other hand, it can give you strong and steady return for

your taxpayers. and this is why you can see so many treasurers, democrats and republicans, that move ahead with an investment in israel bonds. his les what is the web site? >> you can go to israel bonds.com today. if you don't have an account, you can open an account and make a purchase, or you can -- if you already have opened an account, you can just go online and make a purchase. liz: dan if i, thank you. business angle here, we appreciate it. thank you very much. the criminal trial of former president donald trump nearing tend of closing arguments at this hour -- the end. could the jury get the case by the close of business today? this is touch and go, folks, so we are going to take you straight to the new york state supreme court live where it's all a going down for the latest details in the historic case. we have a reporter inside who is letting us know what the arguments are up to the second. we'll get that for you. investors or in trump media and technology group not fazed by the action in court today. djt gaining about 8.5% at the

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the prosecution is right now conducting its closing arguments. it began just after 22 p.m. eastern. now -- 32 p.m. eastern. -- 2 p.m.. the the defense concluding just before11 p.m. eastern. trump attorney todd blanche attacking the prosecution's star witness, michael cohen, ca calling him, quote, the mvp of liars. prosecutors accuse the former9 president of 34 felony counts of falsifying business records related to the hush money payments that were made to former porn star stormy daniels. we're going to take you there right now because fox news' nate foy is live outside the courthouse monitoring every second of the arguments make -- made by both sides. nate? >> reporter: hey, good afternoon. so the prosecutor is arguing right now that a former president donald trump engaged in a conspiracy back in 2016 by working with former american media ceo david pecker, and you mentioned his one-time lawyer michael cohen, to suppress negative stories about him.

and and cohen 's credibility has come up several times today. prosecutors responding to attacks of cohen by trump's team saying that cohen was understandably angry or is understandably angry because he's the only one that has paid the price for engaging in that a conspiracy. if now, or trump's team objected to that argument, but they were overruled by judge juan merchan which is notable because during secure instruction last week the judge said cohen's 2018 guilty plea could not imply trump's guilt. donald trump jr. talked about cohen's credibility outside the courthouse earlier. >> this was amazing. i think todd blanche summed it up best. if there was an mvp, if there was a both of liars, it is michael cohen -- g.o.a.t.. michael cohen is the embody withment of reasonable doubt. >> reporter: so before that trump attorney todd blanche laid out ten reasons to doubt prosecutors' case. he says there's no evidence that trump falsified any business

records and no evidence that trump did anything unlawful to influence the 2016 election. joshua steinglass saying there's a, quote, mountain of evidence proving just that. blanche said the only person connecting trump is michael cohen, and balloon of. e argued that the cohen lied several times during his testimony, at one point saying quote, i don't know how many lies are enough lies to reject mr. cohen's testimony. blanche reminded the jury about former trump aide hope ticks hell -- hicks telling the jury trump was more worried about his family when the stormy daniels' story resurfaced which is important because during discussions last week, the judge signaled that if the jury finds that trump would have made a payment disregarding politics, perhaps that that he was concerned with his brand or his family as hicks implied, that it could not be the payment, the

payment could not be considered a campaign contribution are. so prosecutors continue making their closing arguments right now, and we're expecting trump to speak after court at 4:30 or possibly a little later, because court could go past the scheduled time today. we'll send it back to you. liz: nate foy from the scene, thank you very much. fox business alert, investors, well, they're not betting on draftkings and fanduel right now after illinois senators passed a new budget that includes a tax increase on sports betting ore operators. it now adds to the state's house under the new proposal online sports betting operators will begin paying higher taxes on july 1st ranging from, you ready for this? 20% to 40% depending on their level of annual revenue. analysts say that the bill raises concerns that on line betting could get more expensive down the road in other states. draftkings right now down 10.5%. of flutter lower by 7%. let's look at gamestop.

gamestop. is soaring about 19 -- make that 20% right now. but this time the main drivers isn't meme traders trying to squash any short sellers. the video game retailer says it actually raised $933 million from the stock sale of 45 million common shares. the gamestop did not disclose at what price, but the sale comes just after shares surged nearly six times their a value in the first two weeks of this month on the meme trade frenzy. gamestop says it will use the proceeds for general corporate purposes which could include acquisitions or investments. celsius stock needs a bit of energy as we hit the afternoon trading session, down 12% on some of the latest nielsen retail store trends. morgan stanley citing nielsen warned that sales of the drink growth appear to be slowing hitting a 39% clip for the week ending may 18th and market share dipped fractional ally to 10.5.

while cautious in the near term, morgan still sees a robust u.s. runway for celsius. airbnb shares also responding to analyst commentary, rising 1.6% of after web bush released a new research note saying the home booking site could be an opportunity for investors due to its recent shares slump. what do we mean by that in in the stock is down 11% just this quarter to date. wed bush upgraded from a neutral stance and moved its price target to $1655 from $1600 -- 165 from 160. it is a big day for the item come sector -- telecom sector. verizon has a plan to keep subscribers happy. the ceo of the verizon consumer group is here live next to talk about that and how he sees artificial intelligence disrupting how you use your phone. it's fox fox business's --

business exclusive. and you want to talk about changing course midstream, this woman was originally set on becoming a lawyerful of anna harmon did graduate from boston university law school during the 2009 recession. she found herself totally unfulfilled in traditional legal roles, so the founder and ceo of studs, yeah, a new business, is this week's everyone talks to liz podcast guest. anna shares her transformative experience by going to tattoo parlor that inspired her career pivot to owning a stylish and sterile piercing studio chain offering trendy jewelry. listen on apple, google, spotify, iheart radio, wherever you get your podcasts. "the claman countdown" is come right back. stay tuned. ♪

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hi, i'm ben and i've lost 60 pounds on golo. (guitar music) i've struggled with weight my whole life. i'm sure you're like me and you've tried diet after diet. if you want to stop the insanity, try golo. liz: calling all u.s. cellular investors, take a look at this stock. u.s. cellular corp., usm, is

gaining11.33%, just off the highs of the session, on news that fellow carrier t-mobile is going to acquire most of the company's wireless operations including customers and stores. it's a $4.4 billion deal. t-mobile, take a look at that, is up just half a percent on the news but hit an all-time high earlier in the session. it acquire about 30% of u.s. cellular's wireless spectrum which will supposedly help t-mobile improve coverage in rural areas while offering better connectivity to u.s. cellular or customers. verizon had reported arely been in talks with the company, the ceilular giant announcing it's going to give customers on its unlimited ultimate plan access to its best phone and device promotions when upgrading which are usually reserved for customers knew to verizon. joining me now, verizon consumer group ceo who's ear in -- here in a fox business exclusive. first of all, are you still in the bidding game for any of the

spectrum that might come from this purchase? >> you know, every carrier right now is trying to build their access -- set of assets. we at verizon feel very comfortable that we have all the assets we need which for us is a combination of spectrum, distribution and fire. we have all of those assets -- fiber -- and we feel really good. liz: okay, so that's a no. no more discussion the. >> we really like our position right now in assets. liz: okay. what is the broader consolidation space looking like for you right now? it's been a while since we saw some type of movement and activity here. >> you know, the market's always a been competitive, this time is no different. we have a playbook, and we are plague, you know, with our playbook9. at the end of the day the market is converging. people buy their phone and home broadband from the if same provider. it's probably going to double over a period of time. we at verizon, we have all the right as shes to do that. we have the best spectrum.

advanced spectrum, low spectrum, it's multigenerational in the apple of capacity we have. the second is fiber, liz. we have the northeast if which is the verizon f if ios which is the og -- liz: i am a customer. >> it works very well, is and we have out of footprint assetses last couple of years. liz: and yet competition is still fierce in in this space. and you have this announcement today, let's talk about what it entails and what you're offering people and and how you think it'll juice up sol of -- some of the sub descriptions. >> every time we make an offer, we go back to to our customers, and we ask them9 what the pain point. last year we. launched my plan. we give them exactly what they want, and it is doing incredibly well with good momentum. a year later went -- one of the other things we heard is all customers, new customers as well as our base today, want access to the best promotion with the ultimate plan we're able to do

that. so everyone gets the best promotion, the best deals on handsets in the market today. liz: and yet you still have to make sure you're offering best in class service. a.i. is playing into just about everything. if tell me how you expect a.i. to be changing the way people use their phones. i mean, we've spoken to christian know aman of qualcomm, he has constantly said we're going to eliminate the cloud. it's all going to be on your device that's in your hand. what's verizon doing to get the lead on that? >> i think over the last 10 years what we've seen is video has been the the biggest driver of traffic for us. people stream -- that is kind of flatlining, so we think a.i. is going to be the next thing that drives traffic. at some point most of these a.i. solutions will sit on the device and in the cloud. it's going to sit in both places, and you're going to have to move a massive amount of traffic between the edge of the network expect device. liz: this slows town the latency

is if it just goes right to the device. >> one of the promises of 5g was speed, the second was latency, and with a.i. we think we are right there to capture all the advantages a.i. has to offer. liz: i also speak to an audience that looks at it as an investing opportunity. verizon is yielding, single share of the stock is yielding 6.7%. that's always been an attraction. but now that you make these offerings and there's still, as we said, a very hyper-competitive the atmosphere, what is the case for owning verizon over a t-mobile beyond the dividend? >> look, i think the first thing for us is we have the assets we need, you know, whether it's fiber, spectrum, we have the assets. and, two, we are a really financially disciplined company. we start with service revenue if growth that translates to ebitda growth, so we will always be a disciplined player in the market. and you'll see that from our offer. we don't go and buy growth when it's not in the market, but we

are very competitive. we will fight for every single customer to insure they're on the best network on earth: liz: yeah. well, at&t probably disagrees, but this is what makes the capitalist society so exciting. >> thank you for having me, liz. liz: anytime. while president trump's criminal case nears a cry mack, the former president is working on potential -- candidates to fill out his cabinet as well as a running mate. charlie breaks it next on some of the or familiar names on his list. "the claman countdown" coming right back. ♪

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when people are fed, futures are nourished. join the movement to end hunger and together we can open endless possibilities for people to thrive. visit feedingamerica.org/actnow liz: "fox business alert." while donald trump awaits the jury verdict in his hush money trial here in manhattan, at the same time he is apparently also mulling potential candidates for key cabinet positions if he were to win the white house in november. charlie gasparino, this is interesting what you found out. >> it is interesting, because the conventional wisdom he is just talking to lawyers all day. i can tell you that is not the case. we should point out that one way that donald trump does business unconventionally, because i've seen this in the past, when he wants to do something he will talk to the sort of kitchen cabinet of advisors. it is -- liz: a lot of ceos do that.

>> true. he is a businessman. he will call up this guy, i don't want to say the names because i speak to these people all the time. they're all, some are in business. some of them are in politics. most of them, there are a few journalists so to speak. not journalists, journalists but tv commentators. liz: you're saying he is doing this in between breaks. >> doing this right now. i want to point out i know the blagojevich,. liz: illinois governor,. >> bernie kerik, both pardoned by trump same day, i got that story because he called up one of these kitchen cabinet people, what do you think? that is what he is doing now. he is calling up people about various -- some of this is incoming to him, there is this sort of dialogue, essentially he is fielding recommendations who should be in his cabinet. liz: during the trial breaks. >> or during the weekend. liz: oh, i thought that is what you said, conducting this business.

>> yeah, all the time. he is talking with people. so who are the people you hear about in these conversations? everybody from jay clayton, the former, sec claire will probably have some role, maybe even treasury secretary. those are the names that are up there. it's mike pompeo name has been bounced around. robert lighthizer's name. joni ernst name popped up as potential vp candidate. i don't know if that will happen or not. but that is a name. nikki haley's name keeps coming up again. our buddy gary cohn, former goldman sachs, doing his own thing. john paulson. liz: big fund-raiser for trump. >> how do you say that. >> impresario. >> i should get that. i usually screw up french or latin. that's where we are. a couple things are interesting what i hear about trump.

trump is telling people he is pretty astonished and encouraged how many people will work for his administration. you remember after january 6th, no one would touch this guy, he is radioactive. that is not the case. he is encouraged how big money donors are coming back in the fold. i reported in the "new york post" about two weeks ago, steve schwarzman was thinking of joining. really scared about the antisemitism. he is worried about that on campuses. he will do something big in terms of how to combat antisemitism. also in this piece i wrote he was thinking about getting back into the trump fold. as you know that happened late last week, he announced he is going to be supporting trump. so trump believes he is going to have money. the money might not of some people histant to give to him directly because they don't want the justice department looking at them. they might go directly to the rnc. but i can point out this thing is picking up right now. one of the problems i think that joe biden has with the business

community he is alienated them so much by some of thinks attacks, some of his rhetoric and policy in terms of regulation, that i don't, they are know thinking to themselves, as crazy as trump's twitter feed or truth social feed is at times, erratic, saying stuff, you know, the policy that is coming out of washington is really bad for business. not only that, the rise of antisemitism going on has been sort of applauded by aspects of the democratic party. this is not the democratic party of hubert humphrey or jimmy carter or even barack obama. this is something that has gone far left. so you're seeing the business community saying you know, if i got, it's the devil i know and i know trump is crazy but you know what? he is better for business. liz: we just earlier in the show had the president and ceo of israel bonds and the heartland is investing in israel bonds.

indiana, illinois, texas, palm beach county is the biggest investor. >> you would understand why. here's the thing. so -- liz: a lot of the country not liking there isn't a forceful -- >> democratic party has gone so far left that it's actually embracing hamas in certain aspects. liz: the "squad." >> that is, when you go there, you will alienate large swaths of the country. i think that's what you're seeing. that is why trump is erratic as he sounds is starting to appeal to a lot of people. he will have good people working for his administration. liz: charlie, thank you very much, charlie gasparino. closing bell. folks we are four minutes away. dow jones industrials off the lows of the session still down 256 points. nasdaq is the only index in the grown at the moment, it is still primed to close for a second straight record high but the 12th of this year.

here we go. look at it. exactly at 17,000. now if it closes there, that will be the first time it has ever closed at or above 17,000. all of this could change in a couple of days because we will get the fed's favorite inflation indicator, core pce, the personal consumption expenditure number. that comes on friday. it could provide a clearer picture maybe when or even if the federal rewould consider cutting rates this year. if it comes in stronger than expected you will see bets of a rate cut go down. the european central bank appears to be full steam ahead when it comes to saying it will cut rates starting papers as soon as next week? the ecb governing councilmember ollie saying yesterday, quote inflation is converging to our 2% target in a sustained way and the time is thus ripe in june to ease the monetary policy stance and start cutting rates. our "countdown closer" says, don't fight the fed or the ecb

but how do you invest in it? infrastructure capital advisors ceo jay hatfield. who are you listening to, the ecb or the federal reserve and how are you investing through and around that? >> what most people don't appreciate the ecb is more important to the capital markets than the fed. liz: why? >> 30% of global money supply comes from europe. now we normally ignore europe which is fine because they have always historically followed the fed but because we had this huge gap, the u.s. has so many advantages we can't even talk about it, but tremendous advantages over the u.s., so they're roughly flat. by the way they would be in significant recession if not for u.s. imports keeping their demand up so their economy is so weak. plus they measure inflation properly and it is plummeting and will probably drop even more because energy prices have come oaf which everybody is ignoring. in fact that should help our inflation, not so much friday but later, so the ecb will

definitely cut. that will increase global liquidity, good for stocks and bonds. >> u.s., if the ecb cuts next week, what is the trade just beyond this broader statement of u.s.? why not just european stocks? >> well it is not going to happen right away. the liquidity will start to build. they have to inject liquidity, keep rates down. really the european economy is not very dynamic. they don't have any technology. they don't have the universities we have. they have high energy prices. their stocks have had a big run as well. we would rather be in the u.s. and benefit from a.i. a lot of companies i think utilities which i think is maybe overdone are benefiting in the u.s. from the a.i. boom. so there is a lot of derivative plays none of which exist in europe. liz: nvidia on track for another record close. what decides nvidia though? >> on the tech side we like amazon. we think that, you know, we recommended nvidia on your show last year. $750. liz: good call, sir, good call. >> now it is getting close to

our target at 1250 but if you look at amazon, there is tremendous earnings upside from can youing costs. now they have professional management. so you don't have the founder. cutting costs adding advertising. they have the a.i. boom. we think that is lower risk way. not that nvidia might not outperform because it has tremendous momentum right now but less appreciative of playing the a.i. boom. morgan stanley and goldman sachs have done really well. we think they will benefit from ipos. you saw the private placement, that will go public at some point. >> good stuff, jay hatfield, always great to have you here. [closing bell rings] holiday shortened trading week kicks off mostly in the red but the nasdaq we call this the second straight record close. dow is losing session in the last four. that will do it for us. "kudlow" is next.