several ways in fact to look at this market and those in the past and we do see two things and this is the most unique situation and therein lies the market and not sure going it bring the register from time to time and going to have exposure to them and that needs to happen two ways and going 4% on the 10 year or fed cuts rates and i think it'll be 1.5 trillion and it's going to come into mostly cash -- i mean stock market and, folks, you want to be in the market and be long and ride the next wave. i think liz agrees. liz: do you chase the train? you're in the back of the caboose. charles: if you're not in the train right now, you've got to be in the train. you can't, listen, you and i

both have that, liz, and down played nvidias of the world and telling is going for them put your whole body up and grab a few dollars and a couple bucks. liz: get the big toe and second toe. charles: there you go. liz: thank you very much. fox market alert. looking at a mixed picture as we kick off the final hour of trade. s&p on pace for the 29th record of the year if we close at this very moment. it's here, bring in the history books. the nasdaq, yesterday jumped 264 points and to market 16th record close right now up another 54 but any gain at all give it is

another record. a day after the rustle had the best a little reversal and apple had a bit of trouble struggling to keep its head above water today and following impressive three-day run and news out today that apple has begun to take preorders of its vision pro mixed reality headset from customers in an additional five countries and include australia, france, and the uk. it's not exactly juicing the stock. in fact, earlier dipped into negative territory. right now up just under 1.5%. tesla shares up 3.8% at the moment to $184 and the stock lose ago bit of earlier steam. steam that pushed to $191 a share and

spike peaked around 10:00 a.m. eastern and ceo elon musk said early tally of shareholder vote on whether to re-ratify the $56 billion pay package in the wake of shareholder lawsuit condemning it shows it will be approved. that's what elon says. we get the definitive answer in less than an hour and a half. we even have a count down clock here. the results are to be released at 4:30 p.m. eastern time at tesla annual meeting and with some shareholder groups voting against the compensation plan saying the original vote was rigged by board members, too friendly to musk, one of the most outspoken investors in silicon valley is here ahead of the big moment and he'll reveal how he is voting and no matter how the vote goes, we're going to ask brad whether tesla's future is too dependent on its brilliant yet controversial ceo. 24 hours after chair powell reveal that had fed members scaled their forecast back to just one interest rate cut for

the rest of this year. investors are left wondering whether to believe that and perceive the question mark. ubs managing director jason katz. jason, i'm going to throw this to you. do you believe that the fed will only cut rates one more time and when? >> one and done. so i think the next cut happens next meeting. liz: next meeting, july? >> yeah. liz: okay. >> any closer to september, then we have an issue, or they have an issue. they cut after september and it's going to be construed as politically motivated. so they're between a rock and a hard place. liz: because of the presidential election. >> precisely. if they wait too long to the target to actually get to this return of 2%, then it's too late. on the other hand if they start cutting aggressively more than one time, then all of a sudden markets are construing them is not being independent minded. liz: push you on the july anticipation. july, a fed funds futures and

that's the mechanism where people can bet on what the fed will do and when. showing there's no chance in july. i like when people are contrarean and this is great. but why not november? isn't november just a day after the election and put up a calendar and people can understand and the decision is a day after that. >> yeah, we came into this year thinking six rate cuts or the market d. you and i didn't think that would be the case at all and i think with the trump administration potentially taking away some independence from the fed, i think the fed will push back on that and get way ahead of any hint of election sooner than later and get that one cut in and then back off. liz: there's always the chance that it's a contested election perhaps. >> we've seen stranger things. liz: let me get to keith

fitzgerald. there's more than one rate cut this year? >> liz, respectfully, no. i don't believe anything that comes out from the fed and they're so far out to lunch it's an insult to people out to lunch. they're not taking stupid pills but they've backed themselves in a corner it. jason's point, there's no options here and the government continues to spend money, they can't do their job. liz: all right, well, let's talk about investing around all of this because we have some question marks that are hovering all over the place. tell me where else at the moment beside tesla. >> here's the thing, do you want to switch horses that are winning in the middle of the race or continue to ride them? i'm in the school of thought that you want to continue riding them. tesla as much as i hate the vote and think it's everything that's wrong with what's happening to shareholder politics and govergovernments, you -- govern,

it's the same thing with app and will nvidia and amd. these are companies that are changing the world, liz. i'm not going to little go of that any time soon. liz: i can not wrap my mind around, you can't afford not to be in these names and it was really ugly and where else? you've got to be in tact, do you not. which part of tech. >> i tip my hat in terms of buying them and also with nvidia and they need to look at look at applications and software so out of favor but cybersecurity could be the biggest beneficiary of this ai boom. data growing exponentially and stored and stored securely and looking at it budgets of 15% at least for cybersecurity. when i speak to clients that are

in that world, whether it's local governments, whether it's pensions, whether it's spending on universities. liz: broadcom gapping up and incredible day up last check about 12% higher and they did a beat and race obviously for their outlook and it's looking incredibly strong and this is a company that basically >> if you're in that space, the names that keith mentioned and the space you want to be in is right. liz: what are you avoiding and i

like to ask that question and say what is radio active? >> anything that's nice to have. i prefer must have stocks with strong to competitive most margins they can defend and consumers that will flock to their doors and it's off the beaten path and ai benefiting significantly and going to continue and i get stability that gives me freedom to pursue the more riskier choices. liz: no risk with treasuries and chase them and 5% coupon on anywhere from 1 month treasuries to 12 months and others not looking so ugly either. >> get 5%+ coupon and the bond

prices going lower and look no further for incremental lifeline to have fixed income and before the party is over. i in what form? which part of the yield curve? >> going out at least ten years and depending on your tax bracket, look to trea treasuried municipal bonds. liz: 10 year yield right now, 4.244. keith, you want to weigh in here before we go? >> i share that thinking and runs 3, 4, 5% and that's going to hold you back and you've got to move out of duration and just like jason is talking about. liz: just a corner? just a corner of the portfolio and great to have both of you and thank you so much, keith fitzgerald, jason k katz, alwaya pleasure. president joe biden joins world leaders in italy at g7 meeting in italy. yes. the president is holding a press

conference right now after signing a long term security agreement with ukraine and he just said he's not changed his position on allowing u.s. weapons to be used by ukrainian forces and that's a no and we're going straight to the white house for breaking details on the presser and what's in that agreement. stay tuned. and industrials of transports weighed down by slowing ppi and producer price index came in a bit lighter than expected and it's certainly good news if you're looking for inflation to go down but caterpillar and boeing, those guys are big industrials so they are pretty close to the bottom of the heat map and boeing down just under 1% and cat, which was the worst laggards and replaced by salesforce and amgen coming back. the "claman countdown" has so much more. stay tuned. ♪

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and we could all un-experience this whole session. okay, that's uncalled for. lyric a press conference in italy at this hour and zelensky saying it's a historic gay and the two nations sign a bilateral security agreement that ensures the commitment to the defense of ukraine sovereignty and support for the mission to nato. biden saying it is a reminder to russian president vladamir tuning fork tin that they're -- putin they're not backing down. ukraine has been fighting russia for more than two years and the u.s. supporting it with weapons and aid totaling $175 billion. putin turning out it's not at home and wall street journal reporting it's evan gersgovich.

it's absolutely false and trumped up and journal and fox business share common ownership and get to edward lawrence and the trip to the g7 in italy and live at white house. edward. >> this is boosting like raytheon and sending to ukraine and here's the president, listen.

>> the incredible defense and capables for the long term. >> it's a ten year agreement signed and the president added that supporters and spirits tars inside russia and long range attacks in russia and support from the institute of war shows that 84% though of what the u.s. gives to ukraine and still can't be used to strike targets on the russian side of the board and are for republicans and it's not enough. it's prolonging the conflict. >> they don't see offense as the best defense and they don't get

deterrence as a result. reporter: they agreed to $50 billion loan and off loan seized off asset and billion loan paid back through the assets through the back to you lose. >> liz: the 56 billion pay package could be resolved in just over 1 hour 11 minutes and 14, make that 13 seconds when the shareholder vote is announced at the tesla annual meeting in texas. the vote comes as more and more ev competitors start breathing down his neck. up next, we're going for a joyride with the ceo of lucid and talk about the ev revolution range anxiety plans to define

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liz: tesla grabbing attention

and just like rival tesla and gravity assembled in the u.s.. liz: let's go, peter. >> let's go, liz. let's go. liz: tell me about lucid air that convinced you to forge ahead in the gravity. >> new all american wonder car and most advanced technology in the world and home grown in america and built with love and pride and on the back of that venturing to the next product

and gravity suv and seven seater and three row and another landmark product and that'll have 440 miles range. with the gravity refusing a disbursed attributes and have no right to live together and act and stature with the range. it's the interior space of escalate. liz: huge. >> it's only 2 inches longer than this car and this car is a bit shorter and moving for the tesla model s. it's more compact and practicality three rows and 6'7 in france and 6'6 in the second row, 6'4 in the third row. it's unprecedented. liz: who were they? >> we have the basketball team.

>> in the high 6,000 and just under 7,000. and it's split between going for the volts and election portion of that and going for the dynamic car in the world and it's going to start with this and switch those features on. and charge 300 miles in ten

minutes. liz: what about the gravity. when it's coming out and how many people on the wait list. joining me in a fox business exclusive, lucid ceo peter r rollinson. >> gravity coming out late this year. liz: december? >> watch this space. it's coming. the anticipation is palpable. lyric the wait list, how many people are on it? >> we haven't opened a reservation list. we felt that they weren't serving their customer base by prematurely opening a reservation list. we'll do so at the right moment in time between now and late year. we have got some things from current lucid air owners that have a priority on that list.

brand new dedicate #-d platform for the gravity and it's a true suv. extraordinary interior space and seven seats, three row and unprecedented range and talking 440 miles and truly state of the art and it's an american home grown wonder car. liz: it'll have a frunk with a specific feature in it. we got into the frunk. that's in the lucid air. we had so much fun by the way. we could have a they are cozy

and absolutely. the stock has been a rough ride certainly and you have partnered with the saudis and one is up and running a smaller one and how many cars do you think the saudis will buy and will it really make a dent when you say you're supposed to produce non-9,000 this year and i don't know, are you on track to hit the 9,000 target? >> they've been phenomenal partners and long term parties and we're in this for a long term together and grabbing shares and i've had to for tax reasons and we're going to put

our mid sized platform into that plan, which is scheduled for production late 26th and that's our car at 48,050,000-dollar price point. liz: oh, i think that might peak a lot of people's interest. before we gorks the price point for the gravity when it is out on the market? >> we an sis pate a version of -- anticipate a version starting under $80,000. liz: okay. still luxury. still a luxury price point there, but the competition is getting bigger. where do you feel you rank when it comes to tesla, one of the leaders. oonumber is ahead in terms of core technology and landmark

levels of cameability and no one else is even close. it's a tech race and yet to run its course and we've taken the mental leadership make no mistake. liz: well, those are fighting words. it's great to have you, peter. thank you. >> great to be with you. liz: lucid aims to defy gravity and $56 billion pay package on incorporating the company in austin, texas, away from delaware. as the clock ticks down to the official announcement, we're getting stocks falling investment weight for now as well. stay tuned.

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liz: shareholders are voting again and a vote on whether to move the headquarters of the company from delaware to texas mis-ing jumped the gun and boatraceslations passed by wide margins and shareholders picking sides allowed to change their votes all the way up to the

start of the meeting. brad guest fertilizer and ceo and founder is throwing support behind musk and compensation package passed six years ago by a wide margin. brad, let me not speak for you. did you change your vote. greatest ceo and founder in the history of american capitalism is still a shock to me. here we are. liz: here we are. in true elon fashion, it's a spectacle and we're biting and have the count down clock. okay. tell our viewers why you voted yes. this is a compensation and 56 billion and make it clear about one thing.

this 56 billion kicked in. liz: some 28 of them and put them upright now and you can see that a bunch of them were tied to market capitalization, others were tied to operations, and he hit them all. >> bill gurley and venture capitalist and he broke this down. at the time that that package was laid out, it was 12 different tranches of options that were granted to elon and based upon the accomplishment of certain we see a lot of ceos

getting paid tens of millions and stock goes down and he created a trillion dollars of enterprise value and he should get his just due. shareholders made this deal and a judge thinks he made too much money. liz: hold on. part of what the judge also said is that investors, and this goes to the original shareholder lawsuit that investors weren't given the whole story and that there is conflict of interest when it comes to the board, which is stacked with a lot of elon's friends and even some family members and we're talking very close friends and the accusation was that it was stacked for elon and that he was

basically creating that pay package speaking to board members. >> less than 10% of ceos in america would have cassioppi accepted this offer that elon accepted at the time you granted it to him. there was no pay. there was zero compensation unless he achieved objectives that most people thought were impossible to achieve. i wish more executives in america would sign up to packages like this where they only get paid if shareholders get paid. liz: exactly. >> i think it was a bold decision. now, boards in america, wake up. they're stacked like country you can closures with friends of ceos whether relatives or not. the question you should ask is did the ceo win because shareholders won or did the ceo win despite the fact that shareholders lost? look at the other automanufacturers in this country where people got paid a

lot of money and their stocks have barely moved over the course of last five to ten years. the reason this is being affirmed by shareholders today, liz, is very simple. they won because of one of the greatest investors and founders and ceos at helm of this business. take on something else and there's something big eric at stake here, liz. liz: okay. >> the fact that elon musk made a lot of money it's not a bug of our system, it's the most important feature and immigrant dreamer that bet it is all on rockets and electric cars on ai. liz: i'm with you. i am with you. he is extraordinary. look what he has created. he's dreamt something and then made it actually happen. despite short sellers, people trying to slay him. trying to just push this down. i mean, i covered elon since 2005, 6 and he was just just

created spacex and everyone was laughing at him and he said i'm going to do a reusable rocket. what! obviously tesla almost went bankrupt and the shorts trying to kill him and look who's laughing now. however, you do have some major pension funds and proxy services like iss and glass lewis. who are suggesting they vote against this and norway sovereign fund voting against it and their point of view that maybe they feel it is not entirely up front and if i don't get what i want, i'm going to go. >> look at value of this business, so much is predicated on the future; right. i think the fact that he was going to get options that were worth another 10% of the business. remember, the business was on the verge of bankruptcy so he'll get options that only have value in the future if he created a lot of value and up to 10%, i

believe, of the company's fully die luted shares and seems to be a reasonable exchange of value for a company that was really on its back. so after the fact to look back and the enterprise value of the business is over half a trillion today and reached almost a trillion dollars. i think that it's a he took a bunch of resident and can a tremendous amount of value and focus on ceos getting paid tons of money. tens of millions and shareholders lose and how about focusing on these folks rather than focusing on a fair deal. liz: there's share brothers of warner -- shareholders of warner bros discovery and david zaslav

is making $40 million and stock is hitting a low today. i get it. how much do you value governance at other companies in cpi arkansas which you invest and we'll get to those in just a minute? liz: stay tuned. all right, elon musk took a swipe at apple after openai lab with siri and apple intelligence sent the stock higher and a lot higher this week alone as tecti tan again becomes the most valuable company in the nation. gerstner bought apple right before the ai announcement and asking if he thinks apple will be leading the artificial intelligence pack and what else he's investing in and more when the "claman countdown" comes back. ♪

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her uncle's unhappy.

i'm sensing an underlying issue. it's t-mobile. it started when we tried to get him under a new plan. but they they unexpectedly unraveled their “price lock” guarantee. which has made him, a bit... unruly. you called yourself the “un-carrier”. you sing about “price lock” on those commercials. “the price lock, the price lock...” so, if you could change the price, change the name! it's not a lock, i know a lock. so how can we undo the damage? we could all unsubscribe and switch to xfinity. their connection is unreal. and we could all un-experience this whole session. okay, that's uncalled for. liz: how about them apple shares? the worldwide developers conference which was just monday has been juices up apple shares. they have climbed more than 8% over just the past week. we're back with all tim terp capital founder brad gerstner who was buying shares of the iphone maker ahead of, what, beginning of the quarter? >> yes, exactly, liz. liz: tell me about why because that was around the time people

were saying oh, apple shouldn't be part of the "magnificent seven" anymore. >> well, i mean, that's silly. there are a billion people around the planet that own the devices indispensable for our life. we couldn't operate without them. here is the important thing. only 5% of people who own those devices can use them to prosecute apple intelligence. so basically now we have a cause for all these people to upgrade who frankly sat out the last couple cycles i did. i had an iphone 12. it was good enough. they made the product so good, it lasted longer than they expected. i have gotten the latest iphone 15 because i want to make sure i take advantage of the latest capabilities. many they announced on monday, i think are just a start. >> do you take elon musk at his word he threatened right after the announcement that apple was partnering with openai's chatgpt he will ban all apple devices

from all of his companies, tesla, spacex, twitter, everybody? he doesn't want them in there if there is openai that is woven directly into the operating system? >> well, listen i do think that elon who first warned about some of the risks about recurs sieve learning and proliferation of data as far as back as 2014 i want voices like that who are talking about a.i. safety. i think apple takes safety very seriously. i think the way in which they're executing it, it gives me choice, but you know, we'll have to wait and see how it shows up on the phone. i think it is going to be very important for all of these companies, trust by verify, when it comes to our data. we saw how powerful our data was in the era of social networks. it will be even more powerful in the era of a.i. i don't mind him voicing that and listen, he is feisty, he ask

a competitor, he has a competing product, x a.i. to openai. he made it very clear he intends to be a leader in the space. i think more people we have competing better for the country, better for a.i., better for consumers and more importantly better for safety because they will call each other out when they're following strategies not in the best interests of all of us. liz: s&p is on track for another record right now, same with the nasdaq, brad, and yet you are picking a name not in either of them i don't think, confluence. and also amphen-el. tell me about those two, and why you're putting money behind them. >> two smaller cap companies. in the case of amphenol in the networking space. will be a huge blackwell chips of nvidia. our largest position is nvidia. the substraight to all a.i. is data but it requires compute,

and compute requires these larger gpu clusters coming out of nvidia. am fell noll will be important for that generation. we expect that to be a tailwind. in the case of con fluent, they build a project, built a streaming data pipeline so companies make sure they get live data from applications right into the a.i. applications you want. these are the type of businesses we always focus on the headlines, focus on 3 trillion-dollar companies at the top of the stack but they have to have data and have to have compute. who are the other companies benefiting in? broadcom. larger obviously but benefiting you have to leverage all of these capabilities if you want to build these large super compute years then you have the side window trade at the moment, coupang, south korean company that does what, e-commerce? >> e-commerce and food driver

delivery. that was a market that was delayed in terms of the maturation of the market. too much competition. margins were competed away. uber and lyft and doordash back in '77 and 2018, you had too much competition, margins weren't there saw you the natural market evolution and profitability exploded. we think this will happen for coupe pang as well. that is a real interesting to one for us. liz, can i come back to tesla for a second? >> liz: sure. >> okay we talked about it at the beginning, we didn't get around to, tesla is in three lines or four lines of business. it sells car, a.i., robo-taxi and robotics. if you looked at it as a auto company today, next year people saying maybe $115 billion in revenue, $10 billion, $12 billion in net income, the company would be fairly valued today right? it wouldn't be worth this much if it was just a auto company but the reason elon is so important to that company

because some people think robo-taxi in 2029 will be worth 90% of the total value of the company. elon tweeted on toe mist, robotics division could be more valuable than all the other parts put together. you have to invent those futures. i think too many companies in america today they're sitting and harvesting the past rather than inventing the future. so i think that you know, he is uniquely valuable to tesla in a way to their valuation in a way that i think a lot of ceos and founders are not. liz: i get that but to that point, is he too valuable? is he so very much the company, i mean you think about martha stewart omni media, the whole hit by a bus issue, where the person, the leader is such a cult of personality that without it there could be a real problem? warren buffett is famous for saying make sure you pick stocks of companies where the, where the ceo is an idiot or, could be

an idiot because at one point or some point an idiot will run this company, so you need a piece of, you know, guess a product that is so incredibly good that anybody could run the company? >> i will say, whether it is glen shotwell over at spacex, you look at teams he assembles and look at missionary type behavior of people work on the teams, they walk through walls, they walk through fire for elon, he inspires them to brief. i think he is important to the companies. do i think they all would collapse without him, no, i think tesla at this juncture would be a lot worse with without him at the helm. the answer to that is yes. i start at the top i worry that judges and politicians have tried to divide us on economic lines. it has become vogue to attack success. whether it is elon, bezos or zuckerberg. less than half of americans now

under the age of 40 believe in capitalism and we have to reverse this. you and i talked about this before, we do this getting everybody into the game, right? not through more power to the state by empowering individuals. i think we should make every child an owner an investor from birth with an investment account. you know i'm working on this with legislation called invest america. this is the firewall and defense of capitalism and free enterprise and it's those systems that have given us all this inventiveness, all this prosperity and people, you know, of all stripes, everybody in this country needs to feel like they have a shot, rather than feeling like the system is rigged against them. and you know, so to me this is an important ruling, not just about elon. not just about tesla, but it really goes to the heart of free enterprise and what makes this country great. when we make deals with people and, you know, they travel around the world, they give up everything, they put it all on the line to start a company like this, we ought to have a very,

very high bar before we go reversing those deals after the fact. liz: brad gerstner of all timter capital. it is a big afternoon. are you watching the vote closely? it is streaming? >> i will go outside and enjoy myself because the fact of the matter i have utmost confidence in shareholders. they will do the right thing here, because they know he is the right guy to lead the company. enjoy yourself, liz. liz: thank you very much, brad gerstner. as he was talking we still have a record for the s&p and the nasdaq. this will be the 29th record of the year for the s&p and the 7th -- [closing bell rings] liz: it is the 17th for the nasdaq, not bad. that will do it for us at "the claman countdown." tomorrow, tusk ventures ceo bradley tusk in a fox business business -- exclusive. larry: hello, folks, welcome to