going up and i think if rates go down, they are going to continue to do well. i think some of these regionals just have, they are trading at really a low price-to-book multiple. if you can buy a bank close to one-time its book i think it's a good trade. charles: so at one point this year energy was the hot alternative, right? and it rocked the world. i've got 30 seconds to go. you're in schlumberger, you like schlumberger. are you concerned though, the way west texas intermediate acts with crude oil? >> i'd be more interested in a sempra, because it's in multiple different parts of the energy space, it's liquefied natural gas, and nat gas as well and the two-for-one. the defensive side and the a.i. side. charles: you're the man. thank you very much. all right, folks, so the cp effect is here. can liz claman carry the baton? liz: you guys were just talking about nvidia. charles, crazy right? breaking news, we have a new leader of the four comma club,

as we kickoff the final hour of trade. nvidia has just blown past microsoft to become the world's most valuable company. this 3.8% gain gives nvidia a $3.34 trillion market cap versus microsoft's 3.31 trillion. amazing moves here and if we broaden the market here you could see the bulls are kind of trotting along. we've got green on the screen at the moment but no huge jumps as far as percentage gains. dow jones industry industrials up 17 points, s&p up 11, nasdaq better by eight and the russel 2000 up by seven. russel is something that we're watching very closely. it had been the biggest percentage gainer, still kind of is but it's just a third of eunice percent. any gain for the close at the s&p and the nasdaq? i know i sound like a broken record but that marks a new record. what you don't see in the market ' performance though as we kickoff the final hour of trade is the quinntupling of

bullishness spurting from wall street strategists. they are bringing in the fork lifts. today citi raised its forecast on the s&p to 5,600 matching the same level goldman sachs announced yesterday and ubs's call last thursday, so 5,600 for them. as we told you yesterday, evercore isi became the highest on the street at 6,000 but the point is, a lot of these guys began 2024 with a year-end target of 4,600 to about 5,000, but facts have changed. since january, the broader index has soared close to 15% and now stands at 5,483. i mean, chip stock, nvidia as well going absolutely bananas at this hour. arm, micron, qualcomm, klac, flip it over to lamm research, taiwan semi, applied material, every single one of those names, the semiconductor names and related names blazing to an all-time high and check out

a.i. storage netapp speaking to a 24-year high just a day after ceo jorge kurian told the "clayman countdown" why they are best-in-class for protecting the reams of data a.i. needs to function. >> it's enabling our customers to easily use generative ai tools like large language models with their data securely in a high-performance way and in a responsible way. liz: yup, netapp up 1.25%. all-time high. the gains almost all-time high, the gains have comma mid hand wringing over sticky inflation and federal reserve members who remain pretty different when it comes to easing interest rates which remain at two decade highs , but chalk one up for the rate cut hopefuls. retail sales during the month of may came in weak enough to boost hopes the federal reserve will cut rates this september. month-over-month, retail purchases rose just one-tenth of a percent. that's less than the three-tends of a percent expected.

x autos missed the two-tenths of a percent gain and instead full one-tenth of a percent so is it smart to interpret a slowing consumer as a good sign? let's get to the floor show. joining me now, creative planning ceo peter maluke and innovator capital management. peter, if there's red on the screen it's in retail both high and low end today but if you buy that the consumer is pulling back. how do you interpret it for investors? >> well i think we have two different economies happening now and i see it in our client base. the affluent are doing better than ever. they are still spending like crazy. their assets have inflated. their home, real estate, equities but the middle class and it used to be just people struggling. it's no longer the case. the middle class is really getting crushed here. i mean, if the cost of everything is up dramatically, the report around inflation was laughable. they showed healthcare costs

declining, like everything else, they are soaring so the cost of going out to eat, the cost of shelter, the cost of healthcare, the cost of educational the things that impact people are soaring so i think we're finally seeing that in the data coming through as people are not able to spend as much as they used to. liz: you know what else is soaring? obviously equities and specifically those chipmakers, tim. you've been watching this very very closely. is this starting to look, you know, i asked this three, six months ago but a little choppy now. >> well liz, bubble form when investors get too far ahead of themselves and that's what we're seeing with nvidia. when i look at the stock and now it's surpassing the micro cap of microsoft. even if nvidia hits the targets their revenue is still half of what microsoft is generating today. that's important. again it happens when they get too far ahead so i think we're starting to see that show up. when we talk to advisors right now, really the most important thing they are looking to do is manage risk.

their clients are asking for me and seeing gains and seeing things run up but it's all about how do we manage risk around it is the main focus right now. liz: so peter, when tim talks about that risk and it's understandable because we are seeing record after record for the nasdaq and the s&p and again, when you talk to investors, they are worried about investing in equities but you're saying there is false security in parking your money in cash. what do you mean? >> well investors coming into this year it was interesting to see analyst expectations from the big brokerage houses and bank, the banks at the beginning of the year the top 15 all made predictions a few weeks ago, the market had passed all 15 of their predictions, including negative market movement for places like jpmorgan. now they are adjusting a third of the s&p 500 return is from nvidia. i agree nvidia is just so far ahead of itself. now that does not mean it can't stay ahead of itself. the a.i. revolution is real. you can't argue with it. when people say how long it's going to go on i say it's going to go on for their entire lives.

the difference between microsoft , apple and nvidia though is the sustainability of revenues and profits. microsoft, apple, these companies have methodologies, people are locked up in their ecosystems. nvidia has a very big head start over its competitors but i would argue it's not a moat, so it's quickly on path to become the most valuable company in the world. i do think in the long run, competition will catch up with it. liz: well those moates, tim, make them the large cap for so many investors and small caps are going to rear their heads. you are not saying that right now. >> no i think you've got to stick with what's worked and really when we look at this environment, the key risks that investors are facing right now, you have risks on both end of the spectrum. investors have put this inflation issue in the bag. they put the fed in the bag. it's a done deal and a mistake to think that. we have work left there, and on the other side, you also have the ability to see how are we going to slow this down? you look at corporations, they

have increased prices. they maintained margin through increasing prices. now, if we do see this dis inflation narrative play out we have to think what happens to those profits. do we have to start seeing layoffs take place to maintain those margins so you really have risks on both end. you look at these large cap stocks, they have actually done very well in the face of rising rates. liz: but that's an under statement. >> 75% since the fed started their cycle so we want to stick with with what's working but it's about risk management at this point. liz: let's talk about risk management. how do you do that, tim? what are you buying for the portfolio? >> we're seeing a tremendous amount gravitate toward buffered etf strategies and now the biggest one is focused at getting cash off the sidelines and into the market. one year caps right now on those around nine to 10% so pretty attractive way to be able to get back into the market but have the con any zens to know that you have that principal prager u tengley in place. a new way to invest is sweeping through etf market. liz: it's true. peter you look at all different

areas and ways to invest with so much money, billions, more than 100 billion in assets under management. tell me where you see the best opportunity right now. >> well i like being diversified and leaning towards the united states, large cap investors have been rewarded because interest rates are an influencer but they don't drive everything. they have a much bigger impact on smaller companies which are carrying debt that can really get dangerous with higher rates. in the middle of the tech revolution the a.i. revolution, a lot of that is in the big cap space. i like owning the etf's or those individual securities out right. i think that if you have insurance as part of the product , it tends to drag returns over the long run so 100 % of the time always advocate for clients to own those positions outright. liz: yeah, but again, cash. when we're talking about the trillions that are on the sideline tim, many people are parked either in treasuries or in 5% or 4.8% money-market funds for their banks. do you recommend they move that? >> you have to be in the market

this is actually the number one conversation we're having with advisors right now and specifically there's a lot of concern about investing in an all-time highs. what we continue to remind our clients is that all-time high is not a catalyst for a sell-off. in fact it's exact opposite. it tends to be a very good time to be invested in the equity market. those all-time highs tend to come in bunches. right now we're hitting one every four trading days or so. you look at the stretch from 1989 to 2000 we hit one every nine trading days. 2013-2022 every eight trading days so it's a very good time to be in the market. you have to get off the sidelines and be in this equity market. liz: except we know about musical chairs. somebody's left without a seat. i will say though, folks as you look at say for example, the six -month yield, three-month yield, 5% but since the beginning of 2024, right, peter? the s&p returning 14%, so yeah, equities have outperformed. >> yeah, equities outperformed and tax less.

your cash in the bank, own a cd, a treasury, you're paying the highest tax rate. you own equities you're paying no taxes until you sell and then paying the lowest tax rate, so you got to look when rates are high, the expected return should be better. people get tempted by owning cash and bonds. people that have been tempted by that have really been punished this year. they haven't even really kept up with the 12 month inflation rate so they have gone backwards. liz: at least for the moment the music is slightly slowing down and the dow and the nasdaq just turned negative but we've been in very narrow trading range all day long. tim, peter, great to have you both thank you so much. >> good to be with you, liz. liz: a surprise in the form of a new whistleblower smacks boeing, and it all unfolds as boeing ceo testifies today about the aerospace giant's troubling safety record. we'll take you straight to capitol hill for the latest worrisome allegations. boeing has struggled since 2019 when a second 737 max jet crashed. 2024 was supposed to put safety

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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: folks we've got two competing breaking news headlines right now. let me start with this. president joe biden holding an immigration event at the white house right now on your screen after announcing a new plan that could pave the way for about a half a million people to become legal residents this plan would allow undocumented immigrants who are married to us citizens the ability to apply for legal residency without having to leave the country. it also apparently shields them from deportation and allows them

to work legally in the us. the program should launch by the end of the summer. we'll keep you posted on that and meanwhile let me get to the second headline. this has gotten really dramatic in the last couple of minutes. over on capitol hill, boeing ceo dave calhoun is being torched by senators at this hour. it's the senate homeland security and governmental affairs committee talking about the aerospace giant's recent safety troubles. calhoun didn't just have to face lawmakers. he is facing a new whistleblower who came forward today. need to get right to hillary vaughn whose been listening, monitoring the hearing on capitol hill. hillary, i was just listening to senator josh hawley of missouri ream dave calhoun. this is pretty tough stuff here. reporter: it's pretty tough, liz , and they really aren't holding anything back. particularly with this new wave of whistleblower allegations that came out just before boeing ceo dave calhoun came to capitol hill to testify today.

these whistleblower allegations are from current boeing employee s testifying to lawmakers that boeing safety culture isn't just broken. in some ways, they say, its been engineered to deceive. the current boeing employee, sam mohawk, who works at boeing's renton facility where the 737-max is made gave these details to law icers alleging that boeing is improperly documenting, tracking and stor ing parts that are damaged or otherwise out of specification and that those parts are likely being installed on airplanes. there's another whistleblower who told the committee that boeing has tried to eliminate quality inspections instead relying on workers building the planes to inspect their own work and co-workers work. chairman richard blumenthal says they have heard from a dozen whistleblower's and the allegations are chilling. >> he said that he's been told by his superiors to conceal this evidence from the faa and

that he is being retaliated against. in fact, he's been threatened with termination. these are chilling allegations. reporter: and today, the boeing ceo dave calhoun first apologized before giving his opening statement to victim's families who were at this hear ing who lost loved ones in the two 737 max crashes of 2018 and 2019. at one point getting choked up and promising to do better. >> senator, i'm sticking this through. i'm proud of having taken the job. proud of our safety record. >> you're proud of the safety record? you're proud of this safety record? >> i am proud of every action we have taken. >> every action you've taken? >> yes, sir. >> wow. wow. there's some news for you. well, behind you, you can't see it. behind you, the folks are showing pictures of the people who are the victims of your safety record. reporter: and liz, chairman

blumenthal said that after calhoun's opening statement where he made a lot of grand promises to restore a culture of safety at boeing, he said that those remarks are highly aspirational and very vague. it doesn't seem like lawmakers feel like boeing has an actual concrete plan that they're working through to fix the catastrophic issues from top -down. liz? liz: hillary, boeing just can't seem to get out of its own way. this is disturbing, worrisome, but again, great american company we hope will get its act together and survive and thrive. hillary vaughn, thank you very much. the american economy is still powered by the consumer so far, but are shoppers starting to get a little worn down by high interest rates? we'll ask mastercard senior advise or steve sadoff, with the pulse of shoppers and where they are still spending a lot of their money. dick's, nordstrom, abercrombie & fitch, gamestop are all among the top holdings of the s&p

retail effort. ticker xrt, gained 21% over the last 52 weeks. doesn't look like the consumers getting tired but we're coming right back with much more detail on this. ♪ i have type 2 diabetes, but i manage it well. ♪ ♪ jardiance! -it's a little pill with a ♪ ♪ big story to tell. ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's staaart. ♪ ♪ as time went on it was easy to seeee, ♪ ♪ i'm lowering my a1c! ♪

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just use this...or this to call unitedhealthcare about an aarp medicare supplement plan. liz: fox business alert. the commerce department's read on may retail sales came in weaker than expected this morning. we showed you that but mastercard's late its spending pulse report looks a little bit stronger and different, shedding

way more pointed light on where americans are still spending the most. i mean, look at electronic purchases soaring 10.7%, apparel spending spiked 7.7% and then you have the spending pulse report showing an unmasked surprise. grocery stores experienced a 1.2 % slide in sales while restaurants which saw spending gains of nearly 3% became the more popular choice. now that we're 18 days into june , let's find out how this month is shaping up. joining me now in a fox business exclusive is mastercard senior advise or , steve sadoff. also the former chairman and the ceo of the national retail federation. steve great to have you. i'm believing your numbers versus the commerce departments only because while yours looks stronger that's what i see when i'm out and about in-stores. >> well i think the consumer is quite healthy. the mastercard spending pulse numbers set in context, these are not just the mastercard

numbers, they are a algorithms for all tender and all different forms of spending, checking, cash, et cetera, and it shows that the consumer is out there. they are spending, they are spending a little differently, some categories are not growing as fast but overall the consumer is still spending well. liz: so what is your methodology versus the commerce departments? why are your numbers slightly different? arguably better looking. >> i wouldn't go into the methodology of the commerce department. i know the methodology of the mastercard which is really looking at the actual data that is the mastercard as well as the other forms of tender, and to me, it's a good sense of what's going on in the environment. i've watched it for a number of years. highly accurate relative to the performance of the consumer. liz: two of the biggest winners, electronics purchases and airline flights. those are big ticket items. if people are spending that much and you're looking at that increase that we saw of 10.7% for electronics and airlines

looking incredibly healthy as well what does that say to you currently, in this month of june. what are you seeing now? >> well again this is data through may so i'm just going to talk historically what's been going on over the last period of time, and you have different things going on between electronics and airlines. airlines you're into an experience environment. the consumer wants to be, they have cash. they are still spending, and experiences still matter. you've seen over the last couple of years the growth of the airlines return to spending. they were couped up during the pandemic. they want to go out, experience, get out and visit different places. that's continuing. electronics is demonstrating a new trend, i think you have people replacing their phones, you have a.i. related to you have lots of announcements going on relative to a.i. and different kinds of technology relative to whether it be computers et cetera. i think you're in a mode of replacement and new technologies and you're going to continue to see electronics performing. you have continued to see it

over the last several months, electronics performing. apparel you saw growth in apparel. innovation and fabrications. new trends that you're seeing, so again the consumer is responding to these trends. liz: i want people to know that in 2007-2013 you were the chairman and ceo of saks fifth avenue. >> yes. liz: that was also right as the bubble of the financial crisis burst and the housing market imploded. not a great time to be the ceo for most people, but people now say oh, this is a bad economy. that was a really bad economy. what do you see as far as the differences are concerned between then and now with the consumer? >> well if i talk about then, this be not talking formatter card but my own perspectives on what was going on. there was a very high r-square meaning correlation between the high end consumer and the stock market and as the stock market performed well, and didn't perform well, if you remember during the crash

, the stock market reflected what was going on at the luxury sector. the stock market held up very well. the luxury consumer has held up well. now they may or may not be buying things. you're seeing them buying, they were going to experiences as well but again, i think that the learning from the recession was that the consumer wants to spend. they continued to spend. they had a very quick dip and recovery. right now, we go back to today. the consumer has jobs. their wages are holding up well and they are continuing to spend and i'm seeing that in all of the data and this is not just the month of may i look backwards. you saw the online sales growing at 7.8%. the in-store growing at 3.5%. that's saying they aren't just buying online. they are buying back in the stores. again, experiential, they want to experience, try on stuff, and they are continuing to buy. liz: really quickly. worried about credit card debt.

we just saw that the federal reserve bank of new york indicated that credit card debt that is severely delinquent, that basically is more than 90 days overdue, rose to 10.7% up from 8.2% a year ago. is that a canary in a coal mine? >> i'm not going to comment on consumer debt because it's not my area of expertise. i would say all of the data would tell you that the consumer is still spending. liz: okay, steve, thank you. >> thanks. liz: fox business alert. one retailer is bucking the trend at least today because we've seen a lot of the retailer s moving lower. shares of home furniture maker la-z-boy are soaring 19% on pace for their largest percentage increase since 2017. after the company outperformed the broader furniture sector in the latest quarter. la-z-boy's written sales grew by 1% while average sales across the industry fell by 8%. la-z-boy is also investing heavily in its brick-and-mortar strategy which it believes will future-proof sales by allowing

the company to control the brand experience, collect and leverage consumer data and achieve wider margins. after a lightning-fast sprint earlier this month from $117 to 133 bucks, moderna lately has been looking a little under the weather. it's the worst performer right now on the nasdaq. down about 3% for the last nine days shares of the covid vaccine maker have seen chronic declines , investors perhaps anxious as they await the biotech's quarterly earnings expected august 1. shares have fallen over that nine day period by about 13%. let's talk about kroger. it's one to watch for a couple reasons not the least of which is that it reports quarterly earnings this thursday. the grocer cleaning up and making money after bmo capital markets upgraded the stock to outperform and raised its price target to 60 bucks per share from 58. it's trading right now up about 2% to $52 and change. bmo analyst kelly bania says kroger is in a solid position.

whether or not the merger with albertsons is approved by regulators and we should dip into shares of nextera energy declining under 3% after the company agreed to sell $2 billion of equity units to the securities divisions of wells fargo and bank of america in order to raise funds. it previously set plans to invest $12 billion in solar energy and 1.5 billion in battery storage between 2024 and 2027. nextera owns renewables business, energy resources as well as electric utility giant florida power and light. shares are still nonetheless up about 17% over the past three months for nextera and speaking of florida, florida bracing for weather-related natural disasters which of course cost companies all across the nation billions of dollars each year and now, one digital operations company is using a.i. to fight mother nature and keep its clients in business when the

electricity goes off and the world is in mayhem. the samsera ceo is here next to tell us how it all works in a fox business exclusive. and this is the super bowl commercial featuring ben affleck , matt damon, tom brady and j.lo which went absolutely viral where it aired back in february. it features jingles in the background music from joel simon, the entrepreneur who had this dream of becoming a rock star but then he was led down a path of composing jingles for middle of the night infomercials. not as sexy as rocking the stage at madison square garden but you know what? he morphed it into a sexy side hustle and that became something massive. joel went from cold calling commercial producers to launch ing jsm music which is the top jingle composer for everything from super bowl commercials to movie trailers to tv theme songs. how did he do it? and now he's the top award- winning commercial music production in the world.

he tells it all in my brand new everyone talks to liz podcast episode listen on apple, google, spotify, iheartradio wherever you get your podcasts. we are coming right back dow is back in positive territory up 23 points, stay tuned. ey don't "ci" they're already there. they wear business sneakers and pad their keyboards with something that makes their clickety- clacking... clickety-clackier. but no one loves logistics as much as they do. you need tamra, izzy and emma. they need a retirement plan. work with principal so we can help you with a retirement and benefits plan that's right for your team. let our expertise round out yours. did i read this? did i get eggs? where are my keys? memory and thinking issues keep piling up? it may be due to a buildup of amyloid plaques in the brain. visit morethannormalaging.com

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liz: fox business alert. fox weather is reporting right now that a swirling mass of clouds has formed in the gulf of mexico that could potentially strengthen and become alberto, the first-named tropical storm of the season. the storm could then strengthen possibly to a tropical cyclone by wednesday and dump anywhere from six to 15 inches of rain across portions of texas and northeast mexico. while the gulf coast is on tropical storm watch the atlantic coast is bracing for a list historic heat wave. the national weather service warns record temperatures are forecast to scorch the midwest to the northeast tomorrow through saturday. we've got heat advisors in

effect for more than 150 million americans as temperatures are expected to be above 90 degrees fahrenheit in 200 cities as the us braces for extreme weather from coast to coast, how are companies like home depot, or cisco, and summit material, keeping their productions running smoothly and saving money when battling mother nature? enter somsara, the industrial software company that uses a.i. to keep client operations afloat when natural disasters strike. joining me now in a fox business exclusive is the co-founder and ceo sanjit biswas. i'll tell you, you know, you very specifically helped keep the trucks running. everybody's logistics, and when i think about home depot, home depot is that place where everybody goes before and after a hurricane, right? but home depot needs to keep the lights on and needs to keep their shelves stocked. what is it that you do for a company like them? >> well, first, liz, thanks for having me on.

we are helping companies like home depot, cisco foods, you mentioned, primora services corporation and so many others basically keep our infrastructure running by giving them full visibility over their operations so in realtime they can see where all the trucks and trailers are but we also help companies like the energy utilities and the construction companies understand where their assets are and where their teams are and see it all together in a single system so when a storm does hit, they can get out there and go start fixing the infrastructure before the storms even over. that's what's critical is responding quickly in these really extreme circumstances. liz: sure, fleet management also means employee management, keeping people safe and being able to track where products are at that very second. how are you weaving a.i. into it >> well a.i. at its core is about understanding data and if you think about realtime location, there's a lot of data that comes off these trucks. we actually see all the details about how the engines are performing, how much fuel they are using and we also understand

the safety of the drivers on the road because if you think about it if you're working a long shift trying to help restore the energy grid after a big storm, you're probably pretty tired so we're able to help those companies improve their safety by keeping their drivers safe giving them realtime alert using a.i. in case they are getting drowsy or distracted when on the road and all of this is really around using technology to help those front line workers be safe and be efficient at the same time when they are out there. liz: one of your clients is cisco, the wholesale food operator and manufacturer, not the cisco, but the sysco. obviously you can't leave food on trucks and there's all kinds of damage and loss. can you give me an example of how you have helped a company like that make sure that their products arrive safe and still fresh? >> so we work with sysco foods and many other food distributors who feed the entire country. what we're doing is helping them understand where their trucks are but how things are going back on the trailer which is where all the food is so if you

think about the trailers that need refrigerated for food safety it's a data challenge where it needs to be the right temperature at the right time and everything is showing up in the right place so we provide realtime alerts around the company itself, visibility into what are called refrigerated units, and we provide realtime notifications when they show up at the distribution center or at the retail location to deliver to the grocery store, so again, we're providing all that data and we do it in a really simple way so they can get as much value from it as possible. liz: let me ask you what i asked you first about home depot but bring it to samsara. home depot loses its power too. how do you keep a.i. running if you and your operations lose power? >> well fortunately most of our customers are built for these extreme conditions, so they have generators, their vehicles have power and our systems are design ed to be robust so if we do lose connectivity we go and beam all that data back, the instant reconnect so they have full visibility over what happened but it is a challenge and it's a technical one so

we're happy to take on that work and figure out the technology to keep their operations running seamlessly. liz: you just came in with earnings and you beat and you also raised your guidance. what gives you the power to do that right now? what are you seeing? >> i think it's the strength and the importance of the customer's we're serving. we talked about the energy utilities, the construction companies, the logistics companies. these folks are going to operate no matter what and a lot of them are really just focused on keeping this infrastructure running, which isn't something that's as sensitive to interest rate and other economic conditions, because they are part of that critical infrastructure of our planet so for us it's about kind of steady as we go, really focusing on serving our customers, developing new technologies for them and we're taking a decades-longview so for us, it's not about what's going on in a single quarter but about serving the thousands of businesses really well. liz: you grew up in silicon valley and san jose, went to san jose high school. i love your story. it's incredible and as you grow this company we'll continue to watch it. ticker symbol iot, internet of

things. thank you. we've got former president donald trump whose been pitching himself on the campaign trail as the crypto president but has the 2024 presidential candidate just launched his own crypto meme coin? charlie gasparino has the scoop on the trump coin. he's going to break that story next on the "clayman countdown." (traffic noises)

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liz: breaking news. you are looking live at a crowd in ace seen, wisconsin, right now where former president donald trump is expected to make remarks at a campaign rally. the race in that battleground state is neck-and-neck between trump and president joe biden. both are looking for any edge to swing voters into their column and that now includes wooing the crypto faithful. charlie gasparino has details on, well you get to say it, charlie. >> it is one of the strangest stories i i have ever done. i ellie tarek my producer reported this out. it is on foxnews.com. everybody is following it now. it happens to be about a digital coin called the djt, the trump

coin, everybody think's it is donald trump's coin. martin shkreli, the crypto bro, pharma bro, now the crypto bro, out there touting it, that it is related to trump. the trump we should point out the trump people have not confirmed this yet but i will tell you the crypto industry is abuzz about the djt coin. they will be tuning into this rally in wisconsin. there is rumors that donald trump may address this during the rally. it is kind of interesting. some of his truth social posts he has put djt at the end. he has never done that before. as you know djt is the stock symbol. it is his initials but the stock symbol of his truth social, his truth social company but he has never said that before. now after this crypto is launched he is starting to say it. so we don't know. i will say this, there is two stories here. that's why we did this it is

possible that trump is behind this. we don't know. they have not answered any questions. we even, like approached vivek ramaswamy who as you know, presidential can it date, now an advisor into trump, big into crypto space. liz: tech. >> tech. we asked him if he would comment on this, he gave us this cryptic non-denial denail. liz: what form? >> i'm not going to answer that directly. i'm paraphrasing it. crypto is big thing we think donald trump should embrace crypto, which he is. these are passionate people. some of the research that we've come up with, ellie in particular, they're one issue voters. if you're positive on crypto, which, president biden and his regulatory apparatus isn't. i think it is fair to say that without taking sides. if you're positive on it, they might vote for you, okay? trump is clearly looking to tap into that. that is kind of what vivek said. it is interesting, he didn't

deny or confirm i expected a denial. this trump coin has been listed on solana wallet for a while. as we were preparing to write the story. liz: what is the value for it? >> it is off the charts. >> check every five seconds. as you're looking, if we put up djt, the stock, down about 10% today. down 50% quarter to date. >> it has market cap occurred togglely, of $250 million. the djt. shkreli, aforementioned crypto bro, betting $100 million on x, that the coin is associated with trump. people are saying this is a fake. this is not real. shkreli is willing to bet them $100 million according to his twitter feed, it is real, that, this is somehow affiliated --

liz: not according to his own wallet or bank account? >> does he have 100 million? liz: i don't know. >> he mean he did sell the drugs for 15,000 times what they were- liz: pharmaceuticals. >> isn't that what got him in there. that and a hedge fund issue. i don't want -- liz: it was the hedges fund issue that put him away more or less. >> the other stuff weirdly was legal. that is where we are right now. let's say martin, let's play this out, would it totally surprise you. would it totally surprise you if martin shkreli is working with the trump campaign? would it totally surprise you? liz: nothing surprises me these day. >> steve bannon, navarro, martin shkreli. i wouldn't be surprised if this is really all he is saying it is. but there is a lot of people that are saying no. and liz, i will tell you, we've asked everybody. we interviewed everybody. we could not get confirmation.

there is all sorts of rumors about trump family members that are involved. we don't say those names because we have not got them confirmed. liz: okay. >> and so, i guess, stay tuned. listen to the speech. liz: five minutes away from the racine wisconsin, i don't know if we put up the live shot one more time. we just showed the crowd. they are waiting. >> they're not exactly crypto enthusiasts, but crypto enthusiasts are tuning into twitter. >> you never know. there are a lot of crypto enthusiast. >> with maga hats on. liz: charlie also, thank you. closing bell, we are less than five minutes away. dow and s&p are on the second straight day of gains. s&p and nasdaq are on track for records. if the s&p does it that is the 31st record close for the index this year. nasdaq bouncing between gains and losses f 2 ends the day with gains, that would be 37th record close of 2024. we're preparing very important piece of economic data ahead of

the june homebuilder confidence index tomorrow. we're looking at lennar, lennar the homebuilder stock is down 5% at the moment after it forecast for deals for the third quarter was a miss. they missed expectations. meanwhile there are more homebuilder earnings, minutes away. kb home after the bell. could these reports preview important housing data later in the week and stocks involved in all of this? chief market strategist, b rile hi health, art hogan. his firm manages $38 billion in assets. art what is the name you like, and are you concerned what we've been seeing, very little inventory and high prices? >> inventory and high prices. clearly home sales are usually existing homes and 10% of new homes. for last 18 months, 35% new homes that is the only place there is any inventory. i think homebuilders have maxed out to the capacity they can. obviously lennar beat across the

board but gave bad guidance. kb homes, similar will likely have a nice beat but guidance, won't be robust. d.r. horton is at the low end, more distribution geographically. of the homebuilders it looks most attractive. precursor for the national association of homebuilders coming out tomorrow morning that looks to come in at 45. that is the lowest it has been in the cycle. the homebuilders are to the place they can't build homes fast enough. they have don't have enough workers. buy land to get that accomplished. i don't think it would take much of a draw-down in 30 year performing mortgage to see the industry pick up apace. homebuilders are subsidizing mortgages. taking rates down, buying them forward a little bit of a crack in the 30-year fixed which should correlate what we've seen already help in the three-year, 10-year, shed hupp existing homes and new homes sales. liz: you splashed through the reasons. can you give me one more detail

about d.r. horton that gives you the sense this is the name to be in this sector? >> if you look at it it is right now millenials want to be first-time home buyer, they're at the low end of that so for the starter home, building homes, instead of 2700 square feet, 2400 square feet, at this was our average until 90s until everyone built a a mansion d.r. horton is broadly distributed around the country and when you think about the average price, lennar, kb home, run 420 to 450,000. for lennar, 480 to 490. for kb homes. d.r. horton is a good, 65 or $70,000 less than that. it has affordability. i think it is going going to do bell. millenials want to be first-time home buyers, d.r. horton will be the beneficiary i think of that. liz: you like tjx and autozone,

why? what do those two names what is the common thread? you have got about 20 seconds. not a lot of time, sorry. >> value focused consumer is going to tjx because they love to treasure hunt. the company is doing extremely well. pays a dividend. only trading 71 times. ought sew zone, average age of autos is 12 1/2%. highest in five years. autozone buys back a lot of their shares. up 15% year-to-date. it has a lot more to go. liz: art hogan, how long have we been doing this together, 28 years? that is how good he is. >> something like that. liz: thanks, art. [closing bell rings] yes looks like a record for the s&p and the nasdaq, big moves today for nvidia. tomorrow he have san greenberg, ceo of the insurance giant chubb. larry: hello, folks, welcome to

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