go and be safe. charles: my grandparents gave everything they had. they worked their ass off for years and gait all for 60 acres to have their own. that's risk, folks. that's risk. >> let's talk to charles payne p i call him clp for short. what have you learned from charles sr.? >> honestly, everything, you know? it's the greatest man i've ever met in my life. he,ly, does not have to -- honestly, does not have to teach me a thing. he just has to be who he is, set that scample what and just lead. charles: everyone must take advantage of the stock market. thank you all so much. and check this out, folks. i'm glad kennedy hung around. we've got a cake -- [laughter] thank you all so, so much. and, liz claman,s such a beautiful chip you made for us. thank you so much. liz: i need that a cake. charles: it's an honor to be your opening a act. liz: okay, put all of that

aside, i need the cake. charles: you got it. liz: dino, go get me a -- [laughter] congratulations, charles. s it is an honor to get toes from you every day, we appreciate it. no rest for weary traders as we kick off the final hour of trade for the week and the month. you can see that the dow jones industrials is in the green by 2500 points, but the russell -- 2500 points but the russ -- 250 points. nasdaq down 204 points. nasdaq bulls have been ducking from the bear claws all session. the tech-heavy index is getting scratched by just a terrible performance by a stock called mongodb, cratering 24% to a 1-year low after providing a disappointing full-year profit and revenue forecast that missed what analysts were hoping for. were anticipating. but if you flint over to moderna, that is also adding to the nasdaq mess. the moderna name is the fourth

worst perform on the nasdaq 1000, down 6.7. look at this session, it has been enduring a wild session just a day after confirming that the the u.s. government is close to bankrolling to moderna's late-stage trials for a bird flu vaccine. that seems to be good news, right? concurrently, the cdc announced a third dairy worker in the u.s. has tested positive for the h5n1 highly path no generallic avian flu, only this time the patient has respiratory symptoms. the first two, sure, they suffered a raging case of conjunctivitis but not respiratory problems. this new patient is suffering other symptoms. as virologists struggle to find out how it jumped to human this is, moderna shares spike pded as a high as 158 but have now

reversed, are trading down $10 to $141 and change. until moderna's vaccine is ready, roche, parent of tamiflu if maker, is moving higherer by just under 1%. tamiflu is one of the antidotes being used to treat the initial symptoms in the few patients who have exhibited this avian bird flu-positive test. speak of new medicines, astrazeneca shares moving up by 1.25% after the company boldly predicted that revenue will nearly double to $80 billion by 2030 thanks to 20 new drugs it plans to launch between now and then. what will the drugs treat? how many will hit blockbuster status, and is the time to invest now over other pharma names? coming up, the ceo of astrazeneca lays out his company's brave new future. now, regardless of what the majors are doing today, for the month they continue to defy gravity. the dow for the month is on

track for may to see a gain of about, let's call it 1.39%. so 1.4% as it's flipping before our eyes here. the s&p will have gained about3.6% by the end of the close here, nasdaq up 5.5%. and the russell, no slouch here, looking to gain more than 3%. and if the markets were agitated ahead of the crucial core pce inflation gauge, they can finally exhale on the news. april core pce inflation if out this morning climbing .2% month if over month, the .3 % expected. and year-over-year with, 22.8%. -- 2.88. that is totally in line with estimates. and while these levels are the lowest in three years, are halo enough to convince the federal reserve to finally start cutting the benchmark rate, or will they wait til it drops all the way down -- it, meaning inflation -- to the 2% target rate? if here's what voting member rafael bostick, president of the

atlanta federal reserve bank, revealed exclusively yesterday on "the claman a countdown." >> i'm not going to wait until we're at 2% to start cutting from our re* i stance because that would really cause inflation to overshoot moving to that target, and that wouldn't be ideal. liz: maybe that's why the yield on the 2-year treasury which most often a mimics what the fed might do is falling 2.9 basis points, but yesterday from its highs of 4.99, you're looking at 4.if 889. how much will an eventual cut if the markets look pretty good right now? let's get to the floor show with john corps pima from the new york stock exchange and oper hymen asset management -- oppenheimer asset management john stotle fuss. john corpina, i will start with you. we already are looking at a very strong market year to date on every level of the indices.

do we even need a rate cut in and once we get it, will it have not the intended effect a lot of people expected? >> liz, we've been talking about this a long time, and the runway we had here in front of us gets longer and longer. at the end of last year we started talking about when is the fed going to cut rates. it keeps getting kicked and kicked. we were all convinced it was june. june is now september. septembers, i'm not convinced they're going to do anything before the election, gets us to december, the real key dates that are there. so i think the market is slowly pricing in a rate cut, it's just a question of when is that a going to the happen. i was convinced it was happening in '24, i'm starting to slowly turn my tune here that it's going to be pushed out longer. but, yes, look at what the indices have done for this month as you pointed out, look what they've done for the year. we're back in this two steps forward, one step back mode. right now we're in that one step back mode where we've seen significant pressure on to our markets over the last 6-7 trading session just because the

headwinds that we have are the same headwinds that we talk about, and they're continuing to be here. we've got geopolitical risks that are here, political headlines, domestic that came out last night that are clearly going to have an impact on our economy in the future moving forward. so all of this adds to a lot of uncertainty that a we're seeing. but the market still is pricing it in, in a positive way in a longer term the period of time. so i think for now when we have these pullbacks here, look for some of the sectors that have had significant pressure on them, and these are buying opportunities, buy the dips. technology has had some significant pressurerecently. there are some -- pressure if recently. there are some picking points that i think we should look at. liz: john, you're talking his language because he has been noticing --en i don't notice it yet, john, but you say there has been a broadening out from that narrow mag 44-7 names, and -- 44-7 name, and now you see an opportunity. i look at the earning picture from the first quarter, almost

all 5000 of the s&p 500 names have reported -- 5000, and the mag 7 added something like, they saw a 50 rise in revenues year-over-year whereas the rest are of the s&p collective growth was a gain of just 5.5%, thank you to jeff sica who was on this set on tuesday and gave me that stat. where do you see the broadening out? >> well, liz, thanks for having me on the show. we've got to say when it comes to the broadening out, the broadening out has been fairly significant in that it has been both across the sectors of the s&p 500, it's even on a day-to-day basis on occasion -- and, of course, we saw it in the fourth quarter of last year -- spread into small caps and mid caps. in terms of the big u.s. indices that are followed by a lot of people and tracked, when you look at a it, it's the s&p 500, the nasdaq and the mid caps that are doing really great relative to what's going on. and a lot of it has to do with

earnings. when we look at a earnings right now, you've got to realize that first quarter eight a sectors, positive earnings growth. five of those sectors are -- sick of those sectors are double-digit earnings growth. and and as you said, with technology in the lead, but consumer discretionary is right very close behind what you're seeing in technology. who would think it, right in but there is significant difference between the performances. there's mixed performance within consumer discretionary. but the overall earnings growth, very, very good and strong. then you also have the only three sectors are showing negative growth at this time. and those three are health care, energy and materials that have double-digit negative earnings growth. but the overall, close to 8% on the headline number growth for the first quarter with revenues growing around 4%, not bad in

consideration that the fed has raised since 2022, march of 2022, it's raised 111 times and been on pause -- 11 times and been on pause or skipped sister 7 meetings now. liz: okay, i'm sorry, i still don't see what you see is a very vibrant bonding out. nvidia is putting the whole market on its shoulders and, obviously, you could say it's just outsized -- it outsized role has really played into the psychology of the markets. how dangerous is that starting to get if you given to see, look, today salesforce is up but, boy, did it take a hit when it put out earnings and people did not like that they didn't see any sort of meaning. addition to the bottom line -- meaningful addition to the bottom line from its big a.i. plays that it has been pounding the table on. >> right -- liz: actually, dell today, same thing. >> yeah. i think it's very, very are risky that we're kind of putting all of our chips in the nvidia

basket back this. right before nvidia earnings came out, that was, like, the one big indicator of our market, what's nvidia where earnings going to do. they blew 'em out, thankfully, and and everything kind of followed along with that. but that is just telling me at this point that a if that's going to be our leading indicator, if that's what everyone is using as their catalyst, their dictator for our markets, we're clearly in trouble because when the analyst expectations aren't met, and that bar is going to be so high for the a.i. industry, when those expectations are not met, it's going to be a big miss. and if it's a big miss, it's going to take everything down wit. so we're treading in some dangerous waters there when we're looking at nvidia ya as a our market-leading indicator -- nvidia. >> well, i disagree -- liz: go ahead, john. >> i'd just like to say, liz, i think that's why diversification saw very important. instead of owning the s&p 500, why not own the individual sectors of the s&p 500 in an etf

and then do some alpha-beta? have some alpha picks that may not have performed as with well or grab some babies that have gotten thrown out with the bath water in this recent pullback amidst tech stocks that may have a really good play within the next 3-6 months. liz: okay. well, we're watching it all, and if you look day by day, it's all a over the mace but, again, month to date we look like we're going to close out for gains with all the a major indices. this market as i said, just keeps defying gravity. john and john, have a great weekend. thank you. >> thank you, liz. liz: the cancer moonshot inching closer to one gigantic leap, and astrazeneca is leaning on cold fusion to develop the next generation of drugs the fight the second leading killer of americans. the astra zen ya -- as a that a zen casino is here next in a fox business exclusive, and they may be one step closer the make chemotherapy for breast cancer

obsolete. you've got to hear what they're planning. astrazeneca's one of the top holdings of the vaneck pharmaceutical holdings which has a gained nearly 20 over the past year. "the claman countdown" is just getting started on this friday. so glad you're with us. don't move, we're coming right back. ♪ ♪

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liz: breaking news, we are looking at a huge pop for shares of boston beer. look at this gain, soaring 25% after the "wall street journal" just hit the tape with this: the beverage maker is apparently many talks to sell itself to japanese spirits maker centori. according to reports, the sam adams maker is in early talks with the participant of jim

beam. it's possible nothing will come from the conversations or another buyer could still emerge, but boss boston beer's market cap stands at $3.2 billion. for its part, sun, the ory falling, but to see a $65 pop on boston beer, pretty significantful we'll keep our eyes on developing headlines from this story. more than 40,000 medical and pharmaceutical professional as are descending on chicago for the american society of clinical oncology annual meeting, the biggest in the cancer treatment industry. according to research site biospace, the global oncology market is projected to more than double to $521 billion by 2033. anglo swedish pharma giant astrazeneca is one of the big presenters at this year's meeting and will discuss two of its lung cancer trials, and it will also a discuss a breast cancer trial that gets the company one step closer to

completely replacing chemotherapy for breast cancer patients. wouldn't that be amazing? here in a fox business exclusive live from chicago, ass that a zen casino pascal. pascal, congratulations for bet getting such a big position at this conference. you have many viewer-investors watching who are extremely intrigued with the idea that one of your treatments could make chemotherapy treatment obsolete for breast cancer patients. what stage are we at here? >> good afternoon, liz. there is, indeed, a lot of excitement here like almost every year. i've been 24 years in a row now, and i can tell you every year the progress is enormous. and this year we aring indeed, very excited because we're presenting new data in breast cancer with our product which is a drug con jewish gant where -- conjugate where you kill the

cancer cell and not the -- [inaudible] cell. so it's a replacement of chemotherapy and represents new data in the so-called her-2 hoe breast chancer -- low breast cancer. now we are showing that the it works in hr-2 low. so a large majority of breast cancer patients will be able to benefit, and it will replace chemo, indeed. so a really fantastic set of data that we will present on sunday is. liz: this is the an, could be an absolute game-changer. any idea when it might be ready? i me these trials take a long -- i know these trials take a long time. >> yeah. so we are presenting the results of the study, the so-called -- study. it's going to be presented on sunday. we are, of course, filing with the fda a, and we hope to get approval within next few months.

the product itself is already approved, it's a new indication, so the review and approval should hopefully be fast, and we are hopeful to be able to provide this new option for breast cancer patients over the next few months in the course of this year. liz: a lot of people will be ate waiting for that. that is great news, pascal. you made a big with announcement to your shareholders saying that you've set a goal as ceo to deliver $80 billion in revenue by 2030, that's a 75% increase. and i look at all of this, you say you're going to launch 20 new medications, 12 of which are oncology and, i mean, i hear 12 the of which finish sorry, a couple of which are oncology, but 212 of which -- 12 of which could become $5 billion blockbuster drugs? >> we have several that actually have the potential to be $a 5 billion drugs, and some of them are already there. we have -- [inaudible] the so-called --

[inaudible] lung cancer which represents about 15, 20 of patients around the world. a lot more in asia. we are presenting a new study in a new subgroup of lung cancer patients, stage iii lung cancer, with amazing results, 885% reduction of the -- 85% of the reduction. so very strong the data there. we're also presenting data with another medicine we have in lung cancer for a different type of lung cancer. also very striking benefits there. so it's a candidate to be one of those great medicines. and we have several others that we'll be launching over the next 2-3 years. liz: a big revenue driver that's grabbing so much of the oxygen is obesity drugs, and you are working on a glp-111 of your own.

what is the latest on that? >> yeah, it's actually, you know, the obesity or for some people it actually simply being overweight is a big issue. we talk about to obesity all the time. obesity medically is defined by body mass index over 30, but there is a lot of us who have simply a few kilos to lose but also have additional risk factors. you may have hypertension, diabetes, high cholesterol. so our focus has been to try and treat those patients with an easy-to-take oral pill that are help them lose weight but also can be combined with other agents that reduce the cholesterol or hypertension. the ore reason is we want to bring this medicine to as many patients as possible around the world, and as you can imagine in many countries those products have to be easy to take, so a pill is much easier than an injectable product. it's also cheaper.

that's really been our focus. for people who need to lose more weight in the obesity segment if you want, we are also developing new medicines that will help patients lose more fat and less muscle. liz: oh, yes. >> that's important. they lose weight, but they also lose muscle. so we want to focus the weight reduction on losing fat, not so much muscle. husband. liz: yeah. that's been a complaint. you might have a blockbuster there too. pascal, it's wonderful to have you. good luck at the conference and please come back when you have more news on developing the breast cancer drug that could eliminate chemotherapy. that's a big deal. thank you so much. >> thank you very much. thanks for having me. liz: the first former president to be convicted of a crime addresses the historic decision by a new york jury. what we're going to do is we're going to head to to trump tower. it's just up the street. to hear what former president donald trump had to say about a his future. we'll get a live report. mt. wake of yesterday's verdict, the trump media group, djt,

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liz: breaking news, this afternoon at the white house president joe biden addressed the felony conviction of former president donald trump. president biden saying that, quote, no one is above the law and that it is reckless,

dangerous and irresponsible to say the decision by a new york jury i was rigged because they don't like the outcome. the biden reaction comes just hours after the presumptive republican presidential nominee held a news conference at trump tower in manhattan. donald trump vowed to appeal yesterday's verdict that found him guilty on all 34 counts of falsifying business documents. the judge will issue i his sentence on july 11th. lydia hu is outside trump tower and has been following this trial and the aftermath every step of the way. lydia where. if. >> reporter: yeah, liz, you know, donald trump made his remarks right here at trump tower just earlier today, and he called this trial unfair. but he also had had added that it is his honor, he says, to now fight this conviction. he said not just for himself, but he says on behalf of the constitution. watch this. >> it's very important, far beyond me, and this can't be allowed to happen to other

presidents. it should never be allowed to happen in the future. but this is far beyond me. this is bigger than trump. this is bigger than me, this is bigger than my president city. presidency. >> reporter: and that, liz, is how he is cruzing this varkt verdict to energize his supporters. the trump campaign says donations are flooding in, they say they've raised nearly $35 until online donations in just the 6 or hours yesterday after the verdict was announced. 30% of those donations, they say, were from new donors. and as you mentioned, trump wasn't the only person talking about yesterday's historic criminal conviction of a u.s. president. bind also addressed trump's conviction -- biden also addressed trump's conviction this afternoon. listen here. >> and it's reckless, it's dangerous and it's irresponsible for anyone to say this was rigged just because they don't like the verdict.

our justice system has endured for nearly 250 years. and it literally is the cornerstone of america. >> reporter: now, as the former president, donald trump, is vowing to appeal his conviction, his legal team is tracking the dead lien are to file a -- deadline to file a notice of appeal that a comes in about one month's time. but the process to work that appeal out will take much longer and is expected to last beyond the election. liz, this'll be something that the former president is dealing with past november. i'll send it back to you. liz: lydia hu, thank you very much is. billionaire business with investor or carl icahn may be rolling the dice on one casino stock. shares of seize around a entertainment popping by11.25%, on pace for their best day in the 2 years on reports that icahn enterprises has taken a large stake in the casino company. the size of the stake and the reasoning behind it, not clear. but last month caesar's missed

wall street expectationses for first quarter results. the stock is down 23% over the past year. it is a good day, though, to gamble on gambling stocks. penn entertainment is also soaring, up 19% after activist investor donorail group call for the sale of the sports-betting company. the the group's stake in penn is unclear, but they claim it could be worth between $5.9-6.9 billion. the letter also criticized penn's current operations under ceo jay snowden, particularly the purchase back in 2002 and -- 2020 and subsequent sale of media company barstool sports. well, the promises costco's cfo made yesterday to keep the hot dog combo meal at its current price is not enough the heat up shares. stock is down about 1.75% even after the retail discount giant beat revenue and earnings estimate for its fiscal third quarter. the stock did close at a record

high yesterday before the earnings report. then on the earnings call, analysts asked about a possible membership fee increase, so they're not going to a raise the price on hot dog, but what about the membership fee? he said even though the company is overdue for an increase -- which it usually implements every 5 years -- it's still, quote, evaluating high inflation and recession risk before it pulls the trigger on that. and sometimes the buzzwords artificial and intelligence just don't do it for investors. look at dell shares. they are tanking 17.5%, on track for the worst day in 4 years despite reporting first revenue increase since 2022. investors had been hoping to see stronger sales from its servers equipped to handle artificial intelligence. still, dell expects the momentum from a.i. demand will continue through the year, raising its revenue outlook for the fiscal year ending in february 2025. not working right now. time flies when you're

having fun, especially when you're making money by investing in luxury watches. but is the clock now ticking for fancy watch makers as consumers start to pull back on spending for luxury items? we're bringing in a see wrote to tell us what he's watching -- ceo and what he's saying in -- seeing in foot traffic of in his stores next in a fox business exclusive. and sometimes it takes just one small decision to completely change the trajectory of the lives of your children. joe germanotta is this week's guest on the everyone talks to liz podcast. maybe he's not a household name, but back when he was a young father in new jersey and his mother called him up and said, hey, you know what? i want to get rid of the family piano unless you want it, he said, sure, we'll take i. oh, yeah. he took it, and joe shares why that a piano eventually became the rocket that would launch his daughter stephanie's career as one of the most successful pop stars of all time.

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liz: welsh as you look at what's going on with alternative investments, alternative investments can be anything from artwork to, perhaps, i don't know, vintage cars, loose gems. but lately watches have taken the lead, luxury watches. people absolutely love these right now, and they have been buying them up, so much so in the past couple of years that priced have sigh rockets. --

skyrocketed. but with inflation-weary consumers pulling back, how's that going to work? popular watch brands like coach, movement, hugo boss, lacoste, is and tommy hilfiger, the ceo says the company is ramping up marketing investments in the current quarter to help drive sales growth for its premium watch brands. is that continuing? joining me now in a fox business exclusive, the chairman and ceo of movado. ephraim, you just reported earnings. you beat on earn, but you had a slight miss on revenue. what are you seeing as far as foot traffic and purchases are concerned? >> sure, liz. so we've seen a hajjinging consumer -- challenging consumer, especially in our biggest markets, in the united states and europe. and really having to do with inflation, and our belief was in going into this year that a we were going to, we had a really strong balance sheet. we ended last year with over $260 million of cash, no cut and

we were going to invest -- no debt and we were going to invest this year in our growth. so we're in the process of implementing a growth strategy that we're really excited about. so we're right on plan for where we wanted to be at this time of the year, and we're ramping up our product innovation and marketing investments throughout the year. liz: okay. so you're spending more to, as you say, ramp up and gussi up everything that you're already doing at a asylum when you also see -- at a time when you also see inflation hitting the consumer. are you worried? >> so historically, and we've been doing this for a long time, we know that when the consumer's challenged, you have to work with really hard to get to that consumer. and so you have to work hard on the product side where we have to offer strong value but really excellent design and innovation and then also on, in our marketing messages. so for our movado brand, which

is our biggest brand, we are -- we just introduced a new watch, the m if ovado bold quest. it's one of the watches picture- liz: put your finger right on it so our viewers -- >> it's on the left, and that watch is selling out. liz: okay. >> it starts at $595, and we'll continue to round out that collection throughout the year. liz: okay. let's talk about the celebrities that you have promoting mo to vado. a lot of times people buy what their favorite celebrities buy. what's been the best campaign that you've had, and do you go for the tiktok influencer? are you doing anything like that? >> so we're actually in the process of building a new campaign for the fall. we've embarked on a movado brand refresh that's been very successful for the brand, but the next planned step of that that was to, to build a new campaign around mov ark do

icons, people that a we're going to have long-lasting relationships -- i can't tell you -- liz: oh, tell me, come on! >> i'll be back in august. [laughter] a we're going to launch the campaign in september. it's going to be five personalities thearve knows -- that everybody nose and really will engage the consumer can and put movado into a cultural conversation. liz: well, you guys are more of a, i guess you would call it a premium to luxury watch because your price points are much more affordable. i'm not going to call it a dupe, but you have a watch that looks a lot like the oris watch that they've collaborated with disney to release, and it's a limited edition kermit the frog watch, and it's green. and then you've got that other green. yours is $395. the oris is $4,99000. -- 4,900 but when i think of the green watch, think of the rolex hulk. you have something almost

exactly like it, 1295, and the roll -- rolex oyster, people love the green watch, don't they? >> they do. green has been a very hot color over the last few years in watches. and we introduced series 800 now about 20 years ago with derek jeter and tom brady. at that timement -- time. and so we've continued to sell our series 800 collection very well. we've integrated and have expanded it over the last number of years, and if that'll be one of the product lines that had been featured in our new campaign in the fall. liz okay. when you come back to show us and tell us and bring those celebrities on the show. that's so nice of you, efraim ram, thank you for agreeing to do that. [laughter] it's been great to see you. >> thank you. liz: all right. the conviction of president donald trump may not be a negative vent for his white house run, at least at the moment when it comes to fund raising. charlie gasparino has details on how trump supporters are

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their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. liz: fox business alert, just hours after his conviction on 34 felonies, the cash register began ringing yesterday as donors flooded former president donald trump's campaign site. charlie gasparino has details on what happened last night in person. forget the web site, right, charlie? >> i mean, i was at a a really nice restaurant on the upper east side of manhattan, one of the best places, and it was all abuzz about fundraiser. ilyo's is on 884th street, all the buzz was how this really insane and just sort of high-powered fundraiser was being held for trump a few blocks away on 77th street. it was at a townhouse of --

[inaudible] liz: sugar king. >> yeah, the sugar king of south florida. longtime republican donor. but it wasn't just him that was there and, by the way, the fact that he had this fundraiser has been out there. here's what's not been out there, some of the names. this is what fox business is giving you exclusively. steve schwarzman was there, the private equity honcho, jeff spreker, the ceo of the intercontinent ifalling exchange that controls the new york stock exchange, his wife kelly loveler, new york jets owner woody johnson was there. a guy named jacob -- of palantir, not to mention john paulson, hedge fund. they all met with about two dozen other executives. and what was interesting about this was, you know, liz, trump didn't come to this, and this was literally hours after the verdict, guilty on all those counts, 34 counts. he didn't come in with a scowl, he started cracking jokes.

i heard he ordered a steak, which makes sense. i don't know if he put ketchup on it. he eats steak with ketchup like i do, but then he got down to business, and he was speaking to, you know, basically, you know, they talked about the border, anti-semitism, wokeness, you name it. china as a threat both economically and militarily. as you know, liz, we were the first to report that steve schwarzman, once a trump support, was on the fence after the january 6th fiasco on capitol hill. he's to coming back into the fold if. he was there. and, you know, they did talk, the subject that really concerns him is anti-semitism and how the biden administration also has been very lukewarm on israel finishing off hamas. so this is what was at the begi. they raised a bunch of cash. it's not just how much money they raised that night, liz, i think what a you're seeing now is that the bragg case and all these other cases, it's not

taking the donor class and saying -- they're not running away from trump. some of this stuff they think is so absurd, they're running to him. and, you know, for steve schwarzman to pledge his, that he's back on the trump train, that means a lot. $34 billion, he's worth $30-40 billion, as you know, great starter of -- the guy who created blackstone. trump's going to have the money to run. now, he may be in jail when he runs, but -- [laughter] you know, who knows? i don't think he'll be going to jail immediately. i do think the judge will give him jail time. that's just my personal opinion, just the way this whole thing worked out. but he didn't act like he was worried. he was joking, and they told him we want you in there not just because with we think this bragg case is a sham, but the -- we think joe biden, four more years will be really bad for the economy given where inflation is, where the economics are, the spending coming out of washington that needs to be reined in, the border,

anti-semitism, woke b. -- wokeness. i mean, they had it all. anyway, i got the tip, i followed it up and found someone who actually was in the room, this was about two dozen people there. very interesting stuff, and you get the first bracket -- liz: thank you. i'm surprised you didn't go running over. give me some of that leftover steak. >> i had a steak. very good. [laughter] liz: thanks, charlie. very much. >> be good, liz. liz: all right. we are less than 5 minutes away from the last closing bell of the month, and the dow and the s&p just hit session highs a few moments ago. suddenly, the dow is up 520 points? okay. when we started the show, the high was 2911 points to the upside -- 291 points. the nasdaq is losing a couple point here but, look, we are on track to mark the sixth month of gains out of the last seven for the majors is and once again

who's the big name? nvidia. playing a very large part of this runup. the stock shot up 26% in may to alone, is second biggest gainer on the nasdaq 100 just for the month. just behind moderna. our countdown closer has an a.i. name that's not just working with nvidia are, but with all of the top chip companies, international assets ad vise receo ed -- francesco. give us the name. i know what it is, but i want our viewers to understand that this is a company that makes a very expensive product that all these chipmakers need. >> well, good afternoon a, liz. how are you? liz: well, thank you. >> so saml, out of -- asml, out of the nyeter lands, this is the company. -- netherlands. i don't care if you're ark md, intel with, taiwan semi, nvidia, whoever you are, you're using their equipment. and you're right, their machine that a produces these high-end chips costs $200 million.

that's more than trump fund raised, so that's a lot of -- as we say in brooklyn. [laughter] liz: yes, definitely. all right. it's at $958 a share, and i just want to check the forward p if e. pe. 49. sorry, 46 for the forward pe. is that a little rich? if. >> you know, liz, certainly, it's rich. but any of these high-tech plays are going to be rich on both current and forward p if e. but how about forward p if e two years from now, three years from now, five years from now? we don't have forward pes for that, and a. a i. in technology keeps driving everything. we hearing you know, i think we have chatgpt vexer 25 out already. that's an exaggeration, but this is where everything's going. all this stuff requires chips. and elon's putting chips in people's brains. asml. liz: yep. okay. you like asml. we're looking at a big, last

second rally for the session and the month. ed, i mean, crm, salesforce, is suddenly popping 7.33%. a lot of interest here. united health care is gaining, boeing, mcdonald's, chevron, verizon. suddenly, we're with up about 544 points. the s&p is also gaining just around session highs. 36 points. three-quarters of a percent. it had been as low as a 43 points to the downside. why do you think a swing comes in the last two minutes of a friday session? >> well, you know, you know what happens, right in we get the june swoon, you know? so maybe people are trying to make some money and get in before we have the typical summer doldrums. obviously, we don't always a have them, but you know the old adages and so forth. sell in may and go away, things of that nature. so now we have people buying and going on vacation. god bless 'em. but could this market have too much exuberance and be overdone?

if maybe so. we certainly see warning signs throughout the entire economy. but as a i like to tell my friends even though my best pick right now is a foreign company, at the end of the day, the u.s. economy is very iffy, but guess what? we're better than all the a other economies in the world. liz: yeah, yeah. ed, thank you so much. we're looking at the dow 30. the dow had been down 19 at the lows of the session. it is now higher by 554 points in these final seconds of trade. session high, 5711 a few minutes ago -- 5 5171. unh, mcdonald's, boeing, intel. now just two names in the red, caterpillar and amazon. s&p up 422. look, the nasdaq just turned positive. had been down more than 200 points. thanks so much for joining us. [laughter] we'll see you monday