expected to debut a new passwords at to login easier. the conference could be a catalyst wrap and the company already hit a 3 trillion-dollar market valuation earlier in the week as investors high pup the a.i. potential. we will follow every day and certainly monday on "mornings with maria" 6 - 9:00 a.m. eastern weekdays on fox business. i hope you will join me here, i will see you sunday morning on the fox news channel at 10:00 a.m. live% liberty features, exclusive interviews with ohio senator jd vance, texas governor greg abbott and house oversight committee chairman james coleman. during the live sunday on fox news. that will do it for us on fox business. thank you for joining us have a great rest of the weekend. i will see you again next time. ♪ >> "barron's roundtable" sponsored by global x etf's ♪

♪. jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead. i am jack otter. a roadblock for the ev industry as it faces a slowdown, jim farley on what it will take to get more americans to go all electric. markets have hit all-time highs in 2024 but what goes up could come right back down if the economy falters. we'll take a look at were cautious investors should put their money. we begin with the expert panel and three things investors out of think about right now. on the "barron's roundtable" al root, elizabeth o'brien and andrew bary. we had another strong jobs on friday i feel like i say that once a month for two years. investors did not know what to make of it but the market ended up higher on the week. >> we are good job number

272,000 but 90000 more than economists expected and initially it was bad news, good news was bad news markets held off but then it settled down we had the jolts number earlier in the week the job opening loss in transition survey that was a little weaker so we had one week one good and this idea that the economy is still cooling, basically the market said one strong figure we will keep buying stocks probably because of split mania and things like that. >> the nasdaq all-time high on wednesday finished up more than 2% for the week, by the way what drives that nvidia up 10%. nvidia up 27% since remains on may 22 that's when they announced they would split 1041. by the way nvidia shares are worth $120 but you have ten of them display goes into effect on monday. it's been wild now we have a market where they said concentration was an issue, last

year top three stocks micro stock, apple and nvidia 16% of the market now they are 19% nvidia alone is 21% of the gains of the s&p. jack: that's a little scary as bull markets diane euphoria if that's not enough roaring kitty and gamestop are back the original. >> i took one for the team and i watched part of roaring kitty. he is a traitor, it means something, there were 444,000 people watching the stream when i tuned in in our colleague hunter smith was watching he said gamestop is his only position, gamestop down 40% today but by the way it's still up 20% for the week. it's up 180% of the 52 week low, that was april but down 55% from the 52 week high, a couple weeks ago. don't try this at home but we should watch it to see what it

means. jack: next week, the fed will see what happens but also apple the stock had been lagging until may it perked up recently because investors are hoping for big news next week. >> apples annual developer conference kicks off next weekend the same conference for the company highlighted the macintosh computer 40 years ago. jack: unfortunately i remember that. >> investors will look into the tech giant for the a.i. strategy and questions include whether it'll partner with a third-party like openai or google or to go at it alone. apples expected to get syria makeover so we can do more complicated things. jack: siri definitely needs a makeover but how does apple make money off of this. >> is not commoditized a.i. directly. this is in contrast where google pays 20 billion a year so google will be the default search tool in iphones, that will not happen

with a.i. it'll be on apple to create killer apps that will sell more phones and make more money that way. >> andrew nice tie, bill ackman one of the most entertaining characters on wall street. wrote about him at you years ago the greatest rate of all time he took $27 million of credit default swaps intruded into 2.6 billion in ten days, you've done exclusive reporting, what's up with him now. >> big ego and big ambition, looking to raise $25 billion from retail and institutional investors by the end of july for a new mutual fund you could hear about it from your broker soon. he had his ups and downs performance wise the last five years have been great he's been crushing the s&p 500 and he also has one of the biggest social media presence in any investor in a million followers on x and a big supporter of israel a critic of di, going after joe

biden from being senile and in embarrassment this past week he may support donald trump. he is basically has a big presence but the new closed-end fund will be focused on what he calls high quality north american growth companies. one is going to be relatively high fee of two percentage points annually. he's getaway that for the first year, more than doubled in the typically active management charges. jack: by the way bill makes money. should investors by the etf? >> alternative which is more attractive if you're opposing the european that he manages and the trades at 25% discount to the portfolio value, u.s. investors can buy even though it's a little bit more difficult and chipotle, alphabet and hilton which may be the new fund. jack: it'll continue to be entertaining. americans are charged up about hybrid vehicles, jim farley on what is working and what is fixing up the company. that is next. ♪

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you could save thousands and get to your goals faster. sofi. get your money right. jack: an iconic train station is getting a second life as ford expands beyond car making michigan central station reopened thursday for the first time in more than three decades after ford bought the property back in 2018 the automaker spent the last several years renovating the space to house not only the autonomous vehicle but also an event space with shops and restaurants is open to the public, here with us ford ceo jim farley, great to see you again, thank you for joining us. >> thank you i look forward to talking about this great place. jack: al and i have a whole bunch of questions but i want to start in detroit and hosted a financial conference in vegas

and all kinds of buzz about the revival of detroit a lot of excitement about what's going on tell us what you're doing in central station. >> this is an iconic building that represented the decay of detroit and many midwestern cities and here we are with the brand-new building bringing back so many wonderful things, the city of detroit is growing for the first time in decades in the car company ford is growing we didn't go bankrupt many years ago and now despite the ev headwinds that the city is driving and ford is starting to thrive in michigan central station is not only a beautiful place for the city but a symbol for what can be done in america. >> part of the renaissance of the auto industry like michigan central is ev's, you reference a slowdown even though ford had an excellent start to the year. why do you think the overall

sales level is dipping is it affordability, charging or how americans like to drive or is it something else? >> we are number two in ev's for the last couple of years. we think we understand the market and were entering new customers the mainstream customers and are not willing to pay a premium for ev's they don't know how to handicap the charging and the resale value and insurance has gone up and they don't know how to handicap that, they can do the math on the hybrid we are also number three in hybrid in the only company that offers all three in america's best-selling vehicle, the f150 we have electric and hybrid and we hear hybrids are attractive because people can do the math and figure out how much money they can save on their gas in the mainstream customers not early adopters that were seeing now they don't how to handicap the actual experience. in q1 because of the heavy r&d

spending you are 1.3 billion in losses and you sold 10000 vehicles. as somebody is driven ev the one pedal drive is kind of fun it's responsive how long will this take to catch on and what is your path to profitability? >> the most important question in the car business because the admission requirements require us to sell a high percentage of ev's and we decided to break our business because we want to hold our team accountable to be profitable sustainable business. it's going to take the same thing that is required for 120 years, we have to cut our costs because customers are not willing to pay a premium and that's going to require breakthrough engineering, breaker manufacturing and breakthrough supply chain negotiation with our suppliers. >> we hear a lot about cheap chinese vehicles that are entering europe and they have not arrived here but we are 100% tariffs and by that investment is going on are the tariffs necessary for ford to compete,

are they temporary, what is your take on the political level that is going on in ev's now. >> we think our political leaders have a big job to do in china is the biggest car business in the world they are 53 million units of capacity in the local market of 29 million that capacity difference that is unused is bigger than the entire u.s. market. our policy leaders have to get serious about policies around privacy around national security and the vehicles are autonomous and can they can do also to things and remotely and serious about playing field. how do you sketch out the business. >> we cannot keep up with the capacity for hybrids we invested more than 20 years ago in the

truck competitors don't even have hybrids on the trucks, 25% of f150 which is the best-selling vehicle in the u.s. is now hybrid and you can use the hybrid batteries for exportable power so if you lose your grade or electricity or your house or you want to run a jobsite within f150 hybrid you could run your house for seven days. it's good for tailgates to but we're seeing the hybrid sales in the first quarter go up about 40% and we've had to add a lot of extra supplier capacity to catch up. >> your fleet sales, 16.7% margins, that is pretty unusual in your business i think $3 billion in revenue in the first quarter. can you keep it at that pace? >> we thank ford pro is a profitable engine at ford, we are the global leader in pickups and a leader in the u.s. and

europe in vans this is what ford does when we get up in the morning we do economy vehicles like bronco investing in commercial work vehicles, we serve the american worker who builds our economy, the plumber and electrician that is the heart of the market and that is who we serve. it's most profitable business at ford and what is exciting it's no longer vehicle sales, the highest growth part of pro is our software sales, we have over half a million subscribers for ford pro product software and part sales. jack: thank you so much for coming on, congrats on the central-station work. >> thank you guys, appreciate the time. [crowd boos] investors are seeing markets at record highs, what happens if the economy turns south? david rosenberg on how cautious investors should position themselves next. ♪ ♪

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jack: investors are enjoying huge earning growth in stock record markets despite interest-rate and pesky inflation could the bull market and the inflation go away? rosenberg research president and founder david rosenberg joins the panel. thank you for joining us. >> the pleasure is mine thank you for having me on. jack: we had another strong jobs number friday morning higher for longer is increasingly becoming the consensus and stock investors are optimistic you been sounding a cautious note for a while, what is conventional wisdom getting wrong. >> i think when people are ignoring is the fact we have 3% growth on the economy last year and everybody seems to be

feeding off the numbers in 2023, first quarter gdp got marked onto 123, where tracking something, call it one plus for q2. we are in a stalled economy you could argue on a recession yet but this is a 1% plus growth economy so it is decelerating in the next question that has to be asked where do we go from here we've gone from 3% to 1% plus, what is the catalyst for taking us back to pre-acceleration mode. jack: you wrote recently time to give all the inflation chatter arrest, tell us why it's going away? >> one part of the inflation decline from the 9% peak was the improvement of global supply chain. the other part starting to kick in is the demand aside and you have to take a look number one at the fed's facebook which is

replete of commentary from businesses that there seeing a rapid diminishment in the price and power and you can look at the government data or the real world and what all the retailers were telling us in the latest quarterly reporting season which is were seen widespread discounting because consumers are pushing back against the previous price increases and in a lot of cases the retail sector prices aren't just stabilizing their being rolled back. >> given your views on inflation and the economy what do you think about the bond market right now. >> that's probably my strongest call, bond yields are going to come down because i don't think recession is something that's not going to happen. i know that everybody is throwing caution to the wind and throwing the recession call into

the wastepaper basket but remember what they did that back in 1989 and they did that back in 1990 and they did that in 2007 but that was a mother merrill, the locks have been longer this time but does anybody believe the business cycle has been repealed into the most acute credit cycle of all time the interest rates don't matter, the logs are longer this time it were going to have a recession and inflation to the downside i'm not going to try and time all this stuff. i just know what the destination is, the destination is recession, the destination is much lower inflation and the fed will be cutting interest rates, that will drive yields down the entire curve between now and this time in 2025. i'm resolutely bullish on the treasury market. >> i think you're still bullish on gold and falling inflation i think of it as an inflation

hedge but i think you still like it, how do you reconcile that one? >> there is other reasons to like gold in the fact that the people's bank of china is continuing to diversify for geopolitical reasons is a very big reason on top of that the india story continues to see 8% plus growth in their economy and that's generating tremendous retail demand and a lot of this is not just about inflation but it's also about flows of funds in the central banks as we know have very deep pockets. jack: we appreciate you coming on. >> take care. >> a pair of investment ideas and andrew tells us about three titans of wall street that may step down soon and you can take the place, stay right there. ♪

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jack: three titans of wall street are coming near the end of the rain who's going to fill the big shoes directly companies are blackstone, blackrock and jp morgan. three ceos have outside reputation that a be big shoes to fill lesson with j.p. morgan, jamie dimon exceed eight years old leading back from the world any may retire after 2026 when options it is going to get to invest the real candidates are in replacing the british-born and she was a well-regarded chief financial officer of the bank now she has to consumer business and she's very well-regarded internally. jack: next thieves swordsmen the very first guest on the show, he is 77. >> is the founder of brad stone which is an alternative asset

manager in the world and most likely successful number two john graves about the real estate business well-regarded in the final one very gently rethink one of the founders and ceo of blackrock which is a leading asset manager, he built a phenomenal business even though he's probably best for all the controversy of the ft statements. there is somebody mark weidman when he's been there 20 years and he came from mckinsey. jack: a lot of market capitalization that we saw on the screen let's go to actual ideas back lucky this week launched boeing starliner into space, that is not why we like it. a backlog we worry about the defense budget but lockheed has 160 in two years in sales and back from to 110 billion pre-pandemic has a lot of business it can fulfill no matter what the defense budget does. >> as long as guys like vladimir

putin i think defense contracting will be a little bit of business. >> according to a new survey by principal financial, a bunch of workers who think they're contributing to their 401k but there fact not doing so. bottom line rules are different from company to company and some planes will in some loan even if you think your saving money in your 401k check your paystub to find out. >> now they don't send you paystub it's a whole hassle, it's worth it. jack: see where your money is going. thank you so much. to read more check out this week's edition of barron's.com, watch. roundtable don't listen during kennedy, that is all for us we will see you next week on "barron's roundtable". ♪ -(theme music playing) -♪ bad boys -♪ whatcha want, whatcha want ♪ ♪ whatcha gonna do ♪ when the sheriff john brown come for you? ♪