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tv   The Claman Countdown  FOX Business  June 14, 2024 3:00pm-4:00pm EDT

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de-de-police station. charles: it piles on and piles on and piles on and people were feeling that. >> 20% in four years. charles: the current conditions, every political group is down, including democrats a lot. people know that but it's time to stop laughing at people and telling them they're too dumb to know how good or bad they have it. most people don't have it so well. do you own a lot of stocks and money in the bank, you're doing pretty good.
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liz, i'm worried about this market. liz: don't worry. there's nothing you can do about it and the bulls and bears are petering out and a wild week and the dow would suffer a big blow and blue chips are down and they've paired the losses down and s&p hasn't been able to claw its way into the green session at the moment and barely lower by half a point and as i'm speaking and turning positive and going to cross the line multiple times throughout the session and stretching out and up just under 3% and multiple record closes this week. today would be another one and as you see, the index has been gaining and yesterday's 12% spike in broadcom, which by the
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way hitting another record at the moment and another 3.5% and today's jump in adobe two absolute standouts and both pulled off of bnr and that's a beat and raise in earnings and outlook and you can see adobe crazy here. up 14+%. adobe's ai i wantage generator fire fly is a massive hit and users generated 9 billion ai images on the platform pushing quarterly sales up 10% to $5.31 billions. both adobe and br broadcom are n the cool kid's club and xlktf and stuffed with microsoft and app and will nvidia and broadcom and yes, adobe. adobe zoomed up and you can see xlk up 5.5%. no zooming at the moment and tesla shares but ceo elon musk's smile as wide as the length of the gig factories and production line at tesla's annual shareholder meeting yesterday. he announced that the vote on his contested pay package passed
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with flying colors and made wild prediction including one about the trillions of dollars that his optimist robot could bring in and bradley tusk here to give his take and he is the tusk venture ceo and he's also known as the silicon valley fixer. he gets politics and he gets all kinds of guidance for corporations. he's a guy you want to hear from. he's also made some brilliant investments and early investments from lemonade to draft kings. as hard as kasandras try to prophesy the tech bubble bursting and time for investors sitting on the sidelines to stop fighting the tape and maybe latter in and going on some of the names in the sector and get to the floor show. talk to you about that and joining me with more bank of america and investors are just
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waiting on the sidelines. >> absolutely. this has been a really incredible week and we've seen this fantastic move on apple, and i think investors were very, very underweight this name and people looking for the septemberment on two days straight. liz: you were sitting in that audience in coupe tee know? >> that's right. liz: adobe said we can monetize fire fly and we're doing it and we have hard evidence. apple doesn't have that yet.
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how confident are you that apple will add dollars and revenue, everything to the bottom line of the company? >> that's a great question and i think that apple's not always first to the game and doing a fantastic job enabling and appealing to the masses and apple intelligence for the masses here and going for the masses and what they're really doing is making our day-to-day processes and making it super easy and going hey, siri, book me ubers for the rest of the day. that's where the technology is going. liz: saying buy apple? if i'm oned sidelines right now? jowski absolutely. liz: okay, scott, we have
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inflationary cooling off and coming down indicators and people think add to all the good news from the tech sector and rate wills start coming down at least once this year and be careful what you wish for or yay, dive in. >> liz, it's be careful what you wish for and the fed wants to see this inflation coming in and that's a great thing and the labor market is still really strong and you get the report yesterday and weekly report and claims were higher and last week's may jobs report was a total blow out number and we need to be very, very careful and the fed says that maybe we will cut, probably not september but the market is pricing in and maybe we'll have a second cut. maybe that's because they see things deteriorating too quickly and that's what i think the problem with the fed is. they're so concerned about the data but the data they're
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looking at is what has happened in the rear-view mirror and they're not forward looking. so, yes, we all want rates to come down and we don't want it to happen for the wrong reason. that's what concerns me. in terms of the trend of the marketplace here, there's a lot of optimism behind me in s&p 50 pit and cautious optimism and hard to fight the trend going on right now. liz: scott, you think that we've really do now need to see you think that but it's not really happening, is it? >> it's definitely not happening and adobe analytics is a pure example of that and today following suit of if some of the
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ecodata comes in lighter and that's a recipe for a selloff here and going for that and if the big tech starts to crumble a little bit, not even crumble, if it kind of goes out of favor, okay, where else is that money going to go? that's my concern. >> he's got names and they've got a rich, rich top couple of names and we could start with pure storage, pstg. this is a data storage company earlier hit an all time high and going to put up the chart and tell us about this company and why we should broaden our horizons. >> yeah, it's really interesting, liz. when you step back and look at what is really happening with spending and it spending dealing with hardware and getting two words, hardware and
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semiconductors and 80% of the software and going to be semiconductors and going for a 50% hardware and semiconductors and going for the dollars flowing there and talking about that and needing to connect to ai servers and going for hbce and these are all long term enterprise spending beneficiaries. liz: hpe and hewlett packard enterprises and going for the price to ratio and going for a lot more and attractive for them going to have well up value investor and doesn't want to spend too much or overpay for a company, hp ininc is a point lower of 10. pe of 10. >> not really defending that story and yeah, there are aipcs and believe on the upside and coming from aipcs and going for them coming out as well.
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she has liquid cooling and that's going for the lights of the numbers. liz: will we see volatility and economic data next week and going for l home builder conference and have a bunch of home sales numbers out there and existing on friday and new home sales on wednesday and more. >> cautious of retail sales and going to be a decent print and may was pretty robin lou bust and what we're -- robust and going to see possible visions and talking about how the consumer who has been unbelievably resilient and they're starting to cool down and changing their spending habits and i think the next three months are going in towards the back end of the year
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here and going for them and starting to feel the pin and have really starting to get cautious and i'm a little concerned lowest numbers in home sales and stuck here till we start to see the rates and one day doesn't look like it's going to happen this year. liz: that you can't thank you so much for being here and tesla ceo beaming after shareholders re-ratified his mammoth pay plan
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and elon musk going to have the myriad of legal disputes and venture capitalist bradley tusk known as silicon valley fixer is known as guidance company and all kinds of trouble and he's also been expert venture capitalist and he joins us next in a fox business exclusive. downtown's industrials down 80 but the nasdaq is up 8 and that means a new report if it closes anywhere in the green. ♪ investment opportunities are everywhere you turn. do you charge forward? freeze in your tracks? or, let curiosity light the way. at t. rowe price, we ask smart questions about opportunities like advances in healthcare and how these innovations will create a healthier world tomorrow. better questions. better outcomes.
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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.
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liz: everyone banging down tesla's door to get one and elon and optimist knows the judge that overturned the pay deal must still approve it. what should tesla do to convince her because they have to? venture capitalist bradley tusk, early investor of coin base, fanduel, lemonade and more known as silicon valley fixer. tuft venture >> it was overwhelping according to to what they were saying. liz: how does he and tesla do that? >> there's a saying you don't fire steve jobs and in a lot of ways, elon is one of the few people in that category and so
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for example think alaska the claims made around opt mus and a $30 trillion company and elon said stuff and that's crazy but turns out it's not crazy. liz: listen to what he said about optimus and get thoughts on how they convince this judge to push through what is now the second overwhelming vote in favor of the pay package. what he said about the robotic point. >> thinking about the opportunisticty mus r robot and it's intended to be at your house and be your companion and baby sit your kids and be in your kith and great teacher and it can do factory stuff and liz:
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star wars $25 trillion market cap and predicting opportunistic pinata turnover margins could bring -- optimus could bring tesla to. >> bigger fish to fry before dealing with optimus and dealing with nervous and teaching that thing and going aside from that. what's the strike thaty you'd advise? >> he's smart in his own slightly odd ball way and to raise this $25 trillion member and even if you discounted by 90%, right, which would be more than reasonable to do and would be a $2.5 trillion product and company in and of it system and basically right up there with nvidia levels of the biggest companies in the world. he never achieves everything he
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says and he does things that no one else seemingly can. liz: 28 milestones of the contract and all of them. if i were the judge if you're denying the pay package and not coerced going to practice the level and going for that and going for that and will optimus be 25 trillion and maybe and and maybe by the way and 26 trillion and it's a bargain and ultimately i would say that when you have someone as unique and iconic and talented as him, you bet on that horse and i think the judge will be wrong to not pick that. liz: this is the 18th in a row
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and i'm losing track because it's so many. what about venture capital and anecdotal evidence that some investors pulling money out of ec funds. >> it's been a rough few years and it's funny and most people who kind of broadly aware of tack in stocks say it's been a great couple years in stock and for earlier stage and privately held tech startups and no liquidity for years and few ipos and a handful from last year and instacart and one or two others and overall very little lemonade and very few ipos and it's been very, very quiet. in fact there's been something in the press showing how they start supporting tram and 23 you look at it from their perspective, you'd sort of understandable in that basically since biden took office and he didn't explicitly do and nonetheless there's been nothing going on in the market. liz: the market is that it's not as business friendly as the trump administration but you're
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the guy who knows and looks and has sort of that midest touch coming from backing and startups and it's a crap shoot talking to guys like tim draper and when i fund something i, kiss that money good-bye and if it comes back, great. you saw something in lemonade and saw something in draft kings. what do you look for and where do you see that now. liz: so sorry, fanduel. >> yeah, no problem. we look at all the things that a tech market does and size and founding and ask ourselves two more questions and one, is there a gaining regulatory issue or opportunity that if it were solved really drive growth and valuation, two, if so, can we solve it and answer is yes, to both. that doesn't really make sense to solve and fanduel going for that and fantasy sports going for the country and lemonade,
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the insurance licenses everywhere and doing this with uber by running all the campaigns and legalized and ride sharing and uber all over the u.s. and have a real opportunity. liz: that's in a company called odyssey and kodak. >> they manage educational savings accounts in state where is they allow parents to decide what kind of schooling their kids get and i think it's miranda ruly the right thing to do. liz: yes. >> then the money follows the kid but you then need a marketplace digitally to connect. all the education providers and state and parents and kid and administer the entire program and odyssey administers for the ststates and they're fallen away the best player in the market and we see going for them on the
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market telling the expansion and going to shade of gray and everything. that's where your expertise comes in. liz: let's let the world know. liz: do you see tech, at least the part of it that's incredibly fiery and the nvidias and microsoft and metas and googles. too hot at the moment? >> you know, it's funny. >> six months ago, thank god and we knew in a world right now the biggest companies have a tremendous amount of market power and they're able to keep
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rolling out products and we'll see what the new iphone looks like in a couple of months but, no, i don't think so and i'd love to see the private market opens up a bit and my hope is that either if it's eventually some interest rate cuts or as a result of the election, but something kind of opens the market. liz: bradley tusk, wonderful to have vow. >> long, liz. liz: even the pope is in on the ai evolution and president biden in on the g7 session with pope francis and topic is managing the risk of artificial intelligence and we'll take you straight to the white house and president meeting in italy and the pope we're coming right back and the nasdaq on pace for the 18th record.
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sofi. get your money right®. liz: president joe biden along with other g7 leaders meet with pope francis to discuss building partnerships between the nations and the focus to ensure artificial intelligence will be used to solve the world's biggest problems, not to cause more and ai remains human centric and the technology won't be allowed to make life or death decisions. grady trimble joining us now live from the white house with more on the president's meeting
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with the pope at g7, grady. reporter: hey, liz, pope francis was the first pope ever to attend a g7 summit and it's significant that he thinks it's worthwhile or not and artificial intelligence bringing it up in front of the most powerful leaders of the world and here's what the pope had to say about ai. >> we need to ensure and safeguard a space for proper human control with the choices of the artificial intelligence programs and human d dignity itself depends on it. reporter: that was this morning and president biden spoke in a closed door meeting and no doubt a significant moment for president biden for the second catholic president and we also saw this odd moment and little unusual and biden touches his forehead to the pontiff. moving onto wrap up of the g7 summit this week, the group of seven leaders addressed wars in ukraine and gaza in their statement to conclude the week
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and reiterating their solidarity of ukraine and support for israel and condemning the october 7 attack by hamas and houthi attack on ships in the red sea and g7 leaders call on all parties to take every feasible step to protect civilian lives in gaza and they add this. we fully endorse and stand behind the comprehensive guide and immediate ceasefire in gaza and the release of all hostages and significant and sustained increase in the flow of humanitarian assistance throughout gaza and an enduring end to the crisis ask security interest and safety for palestinian civilians in gaza assured. we did hear from president biden earlier this week saying that he's not confident that a ceasefire deal will come soon. that being said. it's all wrapping up today and president biden is heading home from italy and he lands at joint base andrews but then he's right
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off to california, liz, where he'll attend a star-studded event and fundraiser and president biden there along with george clooney and going for the race out west. liz: thank you very much. showing you the nasdaq and alert and nasdaq crossed unchanged line and this session alone 121 times. lot of indecisiveness here and you can tell that the bulls are fighting the bears on whether this will be what is supposed to be the 18th record close of the year right now. we're there up five points for the nasdaq. if you want to cruise to the greek islands and get going. carnival and norwegian cruise lines for the depths of the only seeing modest softness in ticket pricing and 40% of itineraries had softer pricing compared to
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33% in may but then there's also this, next summer itineraries to the greek isles might be hard tore come by and greece's mime minister saying the time has come to put caps on cruise ships visiting the country's most pompeo larra islands and talking about san torr rendition of anthonyny and boat traffic was a reason. going from a buy to neutral and boosted price target from $80 to $70 and 61 and change and going for them and the chain is on track for the largest percent decrease since march of 2020; right. just as the whole lockdown happened and rh stock down 18%
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at the moment and company formally known as restoration hardware blaming challenging market and in three decades and wall street chopping away at price target and web bush cutting down from 320 to 250 and bank of america cutting price target going from 375 to 225 and $127 and chip designer arm holdings getting good news and arm will replace sirius xm and on june 24th and arm reached a market value of more than $160 billion versus $10 billion for sirius and the satellite radio company and arm hit a -- i believe a year-to-date high and it's right now pulling back just a bit down half a percent and sirius up 2.13%. arm very much a part of ai revolution and by the way requires huge servers and loss of space on which to build them.
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one company is doubling down on cowboy country to expand its business. the ceo of applied digital here to tell us why the rough rider state is the perfect location for data farms. it's a fox business exclusive and his unrealized dream of become ago rock star led joel simon down the path of composing jingles and super bowl commercials but first he had to start on mid olekowski f the night infomercials and not as sexy as rocking the stage at madison area garden and morphed into something massive. joe went from cold calling infomercials and jsm muse and i can today is the top jink l composure for superable commercials and tv theme songs and how did he come to run the most awarded tv production company in the world and it's in
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and also send them away. rich is living life your way. and having someone who can help you get there. the key to being rich is knowing what counts. liz: microsoft developing new data centers in spain and hitting yet another record high. as companies race to build massive computing hubs to feed ai demand, here in north america, how many people will it
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employ and how big will it be? >> thanks, liz. north dakota announced recently we signed a exclusivity facility in north dakota and spread over three building ands the first is what you saw on screen and under construction now and liz: who's
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artificial intelligence will you be disclosed? >> it's a u.s.-based hyper scaler and this will provide the digital infrastructure that depicts and shovels and running artificial intelligence and these are very different styles and going for the compute and going for them and power requires them and going for them in north dakota and going if tine them and going to bring the case going for them and the power. liz: from the video, the whole place is surrounded by farmland and google announced it is going to partner with berkshire athletics directorway and provide -- berkshire hathaway
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and where's your coming from if you could? >> yeah, if you panned out on the if i canture, you'd see a large -- picture is a large amount of wind farms in the area and north dakota is the sixth largest wind producing state in the nation and one of the smallest in population and state produces double amount of electricity and feeding into a substation and we choose the location. liz: capital markets saying that the street's not giving you credit for that customer you're identifying and when will you and the streets rewarding you today and stock up 6.34%. >> yeah, we expect to identify the publication and we talked earlier in april and i gave 60-90 days.
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liz: the contract is not finalized yet? >> no liz: okay. talk specifically about your previous life as a company. you were very involved in lock chain and crypto and how big of a business is that? >> that's the primary portion of our business and started in 2021. we built 500 megawatts of data center capacity and largest day tay center host and then adding computing hpc and style of data center used now for ai workloads and ai workloads much, much small fertilizer 2022 and didn't see that market take off until the end of 2024 and nvidia and new revolution begun.
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we started and going for the transition and going to the click and see bitcoin or block chain data centers and new high performance computing data center is kind of side by side in our site in north dakota. liz: bitcoin pulling back from the 70,000 -- 71,000 high and at 65,397 at the moment, but how much has bitcoin mining changed since 2021? >> it's changed a lot and seeing bitcoin minors and facilities like ours and hash rate to the network and versus a lot more diverse minors since 2021 and china had to crack down on bitcoin mining and created a boom here in the u.s. and other places and at that time, china was 70%ish hash rate of the network and it's been a significant change over the past three years. liz: wes, i have to ask you because sounds like you have so
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many plans and everything is forging ahead, but the stock is down more than 50% year over year and the top nine investors in the company are institutional investors and they hold the majority about 52% of the company and the share prices of the past year. >> small cap company like ours and a volatility and progress we have made inside the company and the transition to hpc and locking in the customer for this site in north dakota and putting that on scale and going for them with an idea and going for north dakota and the capacity and
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fully reflected till a lot more detail they're going on and bringing it online and long term development projects and think about these as a hotel takes you 18 months, two years, three years to build and get no revenue as dragged on your numbers and kind of all turns on at once and it misses in the numbers right now and people have to dig in to understand what we're doing and stale small company. >> stock up 7% on the session and, wes, we'll follow the development here. thank you. >> thanks for having me. liz: the first heat wave sending millions to the pool and beach and jeff flock live on the wildwood new jersey board walk and going to have them staffed up for the world war i of visitors coming their way and that's next. ♪ [thunder rumbles] ♪ ♪
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her uncle's unhappy. i'm sensing an unng 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. when people come, they say they've tried lots of diets, nothing's worked or they've lost the same 10, 20, 50 pounds over and over again. they need a real solution. i've always fought with 5-10 pounds all the time. eating all these different things and nothing's ever working. i've done the diets, all the diets. before golo, i was barely eating but the weight wasn't going anywhere.
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the secret to losing weight and keeping it off is managing insulin and glucose. golo takes a systematic approach to eating that focuses on optimizing insulin levels. we tackle the cause of weight gain, not just the symptom. when you have good metabolic health, weight loss is easy. i always thought it would be so difficult to lose weight, but with golo, it wasn't. the weight just fell off. i have people come up to me all the time and ask me, "does it really work?" and all i have to say is, "here i am. it works." my advice for everyone is to go with golo. it will release your fat and it will release you. liz: may jobs report showed hiring in the leisure hospitality was the third biggest in 272,000 jobs that were added last month and the industry on boarded 42,000 employees with bars and restaurants and adding 24,600 of those workers amusement gambling
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and recreation accounted for 10,200 and summer's destination and where we find jeff flock of fox business who has a tough assignment on the wild wood board walk about the employment situation, how can you do that work? reporter: at my age, these are not as fun and easy as they used to be. i'm with the vice president of human resources in charge of hiring 150 part-time workers each year and you had good luck with that this year, denise, but having trouble hiring full-time people and people want that to work part-time and not full-time.
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>> that's right. people enjoy the flexibility as well as change of environment and being outside and we filled our full-time jobs roster pretty quick. reporter: that's right. liz, the numbers are down but last jobs report and 600,000 fewer full-time workers are about 300,000 more part-timers and a program here to attract young people if this and what was it? it worked really well. >> yes, we d. we know that young people want to work somewhere that aligns with the core values and getting more like and applications resulted in donations to a local kindness group that gives back to kindness. reporter: thumb's up for kindness. somebody be kind enough to stop this ride. liz. liz: i think we'll keep going. i'm going to toss you like four
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more questions, jeff. reporter: no, no. liz: cut. cut the shot. jeff, thank you very, very much. poor guy. yeah, those are not the ones that i choose. closing bell, four minutes away. take a look at marks and i mean, at any second the nasdaq turns red and turns green and then all over the map and nasdaq up 62 times and it'll be down for the third week on the last four and if we could check tesla one more time and it's dropped today and what it's been and stretch out to 2024 and a woeful year and must see the empire is down a 2% and general motors and up 30% year-to-date and best performing
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auto maker stock and french president emmanuel macron says in the last couple hours he's not worried about the market reaction to his disillusion of france's natural assemble and snap election on june 30th and july 7 and he dissolves the assembly on sunday and going for them beating out macron and parliament and still down march of 2022 and here in the america's president issue election and far away and election impact in our markets s marketsand count down closer her you and 61 billion in asset managers and going for them to gyrate the market.
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>> yeah, market volatility and could mean economic volatility. liz: how do you play if you're an investor or foot tesla around the port knoll owe and going to have hedges embedded in your portfolio and treasuries are inexpensive and portfolio and insurance play on that and we've kind of heat peak growth and biden or trump. liz: what part of the curve and two things. if you're sending in a lot of cash or money market firms and start extending out two year five year and could go through a
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five year or ten year of economic surprises. liz: ten year at 4.21% and avoid t bills and history doesn't prove that to be true and fed has to cut aggressively something bad happens and maybe and payroll going for that and the establishment numbers. liz: by doing what jack says, build in security and the portfolio and thank you so much. jack macintyre, five records in a row for the nasdaq and yes it is happening and going for george cure indian going for a fox news business.

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