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tv   The Claman Countdown  FOX Business  June 19, 2024 3:00pm-4:00pm EDT

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>> i think this is really part of a domino effect of what were seen because of the diet drugs and i don't even believe that we seen this wave happened yet probably more next year and maybe even 2026. as the diet drugs become more mainstream and more people start to experience weight loss that is sustained, what are they going to do the good and feel better about themselves so cosmetics and beauty has huge rally and a store that carries a lot of elf products, this is really kind of what were looking at now as far as where we can see consumers switching. cheryl: it's a ozempic train. thank you. that is it for making money, charles is back tomorrow that is it for me, i liz claman. liz: there is so much news, fox
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business alert we are about to get the first indication of how the u.s. market might open tomorrow we are precisely three hours away from the futures market opening and you can bet that when the clock strikes 6:0. and global investors will be scrutinizing powell futures are moving both s&p and the nasdaq closed at all-time highs yesterday and due to markets being close to the juneteenth holiday, investors have not been able to take profits or double down whatever they choose nor have they gotten to trade a.i. chip leader nvidia which yesterday shafter microsoft decide to become the most valuable publicly traded company in the world. the semi conductor star closed at another record yesterday, quarter to date the stock has rallied a blistering 50% in the last 36 hours, top analysts are weighing in to stoke the fire
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dan ives telling the crowd that the alpha conference don't get caught up in 3 trillion and other market cap news. it was a year from now but investors will be talking about 4 trillion-dollar market values for making cap tech names. blackrock addressing concerns ahead of blackrock investment institute saying in a note, we don't cna i bubble, he did warn that the spending boom by companies rushing to build out their a.i. offerings could create bottlenecks that will stoke inflation in the near terms. is a bullish boat getting too overloaded the bank of america or survey came out showing that investors are the most bullish since november 2021 and the cash levels are at three year lows as investors increase their bets on the magnificent seven. not warren buffett the oracle of omaha revealed he is taking a massive bed on insurance stock chubb, it might not be a sexy
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tech stock but the dividend is, has one characteristic that he absolutely loves, coming up in a fox business exclusive check ceo evan greenberg is here in studio were get a dig into why he is so enamored with chubb that he scooped up 26 million shares and what the upcoming storm season, cyclones, floods all around the world. in the meantime a prediction about how the market might open and more importantly close tomorrow of the bullish headlines, let's get to the porsche because we have two guys that are ready to do that washington advisor kevin peron in market rebellion cofounder pete najarian, can we talk with what you will happen in two hours and 58 minutes from now. >> i would expected to be more bullish, i think that is what were seen right now and we pay for country basically gone to the book of everything and
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early-season related and that did deliver with all the beads, some cases are we beating the actual number from the year before our our we stepping over something, many cases we're stepping over but nonetheless you look at the earnings and how well these companies and the accommodation with the buybacks after doing that says a lot about what they think of the academy and because if you look at something like nvidia which is the leader in the nasdaq and with the s&p and the revalidated everything else i think we're going to start off strong what it comes to tomorrow and over the next couple of weeks. >> if you look at the overseas markets which are open today, my team hunted down a.i. chip names and how they perform taiwan semi conductor, brand-new record, japan's advanced test, softbank all moving higher in asia trade. if you look at the markets overall, we have the ftse 100
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barely showing again i'm talking about europe in the asian markets in the red, japan's lightly higher in people might say we need to profit take. >> there's no sense of that, two things you have a fundamental driver in certain areas of the market and very rapid earnings growth, technology, 16% earnings growth and on top of that you have another phenomenon by psychology and momentum that is driving the chain at the moment, until that breaks we have good things to come. the yet the equity market approaching $60 trillion in valuation. at some time and some point that may give a positive value investors it is the earnings under technology and psychology weighing of the markets favor. liz: i swear to our viewers working to move beyond nvidia and a second but stock twits put out a tweet and i want to show
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show our viewers it shows how absolutely wild the increases in the market cap have been. they have narrowed it down since april 19. the market cap is increased by $1.4 billion in our. i know you you are an options guy. you have to put some type of protection into your portfolio again something like that, no? >> absolutely you hit the nail on the head when we look at the volatility that is a measurement of the s&p, even the volatility that is come down dramatically over and nvidia if you're writing this and it makes a lot of sense when you look at something that is volatility wise in the low 12 that's about as low as it gets it's an amazing thing how we have contracted in terms of how much of a spread we've had we basically for the last week or
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two have been trading somewhere between under 12 and over 13 for the volatility index that trends over to nvidia with volatilities half of where they were before. now would be a good time in my opinion to protect a position and this is my warren buffet although my insurance policy is something like nvidia or many of the other names that are been written on the upside our holdings and all the rest and you do have to make sure you protect yourself because it is a moment but there's always a chance in somebody's going to say something or do something that could dramatically change things. it would make total sense that you would want to protect a volatility index of 12. liz: you're speaking kevin's language be careful only kevin are coming up with names that feel solid and could show some growth. >> there is another market out there because of nvidia and the academy is big a lot of companies doing things beyond
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that and ultimately the a.i. has to work his way down into the economy. we are at a point where you have very high valuation for the market overall and that doesn't mean the average company has done well, the last three years the average company in the top 1500 stocks of the united states down about four and half percent. liz: not the ones that you are picking. >> ultimately for focusing here on companies that don't have extraordinary evaluations that are good businesses that are progressing you want to look at companies that are commons engine or a colgate or a granger, these are all very solid businesses, very durable, flexible predictable businesses, not incredibly sexy necessarily, they have a lot going for them and in the long run they will do very well. liz: what is similar at the top of the show about chubb, evan greenberg coming up in a few minutes, buffett loves it because it is as kevin said and predictable growth type of
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company, not huge or sexy but there have been sexy moves lately when we start to see stock splits come back into vogue when you look at the names from williams-sonoma to nvidia and broad, big notable names, chipotle it is across many different sectors, walmart, what does that tell you. >> is absolutely incredible it tells me they want to be able to have stocks that are assessable and finally they're willing to go there and for a long time they did want to have the stock splits they wanted to keep folks out of these names but is starting to open up to some degree and that's exactly what happens, people tell me nothing really changes when you have the splits, the one thing that i think you're missing when you do any kind of a split whether two-for-one or ten for one or 541 like receiving chipotle and
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why to trade some of the stocks because these are the options of the stocks themselves are too expensive it does give you that feel. it's interesting to see that the accommodation with the buyback and tells me about ceos out there are looking at the opportunity that are there and also saying the economy has some issues here and there and obviously were still working on inflation but it tells me a lot about the second half of the year and maybe were intermarket more bullish than a lot of the folks think is going to get tired. i don't think it's tired just yet. >> i don't think i'm an unreasonable optimist, my dad said be reasonably optimistic but kevin if you are doing that you have to do your job as well and i have to do my job and say what are the black swans or gray swans that you might see we have an expanding war were to take our viewers live to tel aviv in just a minute because there are huge headlines about hezbollah
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targeting a mediterranean island will tell you which one coming up could that be a black swan beside everyone's waiting on the fed to see what they do. >> there's always those kind of risks, you risk a mispricing of market in the aggregate when we look at where we are today if you look at credit spread on corporate bonds or the earning yield on the s&p compared to a ten year treasury those numbers and spread to the tightest they have been in 20 years there is a danger that the market has assumed there is no risk anywhere and only going to be growth, when you introduce those factors those wildcards if you a tenuous market that needs to have safety and growth because that's what is priceless. any of those things could help in what we would like to let everybody know nothing is ever perfect, great to have you both on this wednesday with interest-rate still hanging
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around 7%, wannabe homeowners are staying put in i don't mean interest-rate amine mortgage rates but rent is rising so much so in some cities that housing in any form is unaffordable for many americans, what were going to do is head to the windy city for a live report in the real estate sector spider etf with top holdings with american tower, simon property and more up 7% of the last two months, it does not match the s&p that is for sure. "the claman countdown" is coming right back. ♪ tamra, izzy and emma... no one puts more love into logistics than these three. you need them. they need a retirement plan.
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liz: we got a fresh housing data a few hours ago and homebuilder confidence led to the lowest
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point since january, the national association of homebuilders housing market index for june coming in at 43 that lower than the consensus at 45 and the second straight month we saw the data fall were then expected according to the chairman homebuilders are dealing with higher rates for construction and development loans chronic labor shortages in the dearth of biddable lot the current average for a 30 year fixed mortgage is about 7% for so long, now 6.94% down 15 basis points from last week its way higher than the 3% buyers locked into years ago shouldn't renting be the cheaper option but scotus kelly saberi in chicago with which cities are seeing the biggest increase in rent is there any relief anywhere where people can live? >> it depends how you're looking at if you look at shelter the
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biggest portion 34% 40 month straight of steady growth more specifically why did the shelter got under definition that has been slowing down you asked the largest areas dealing with the metropolitan areas these are population of 1 million people or more are experiencing a 5% or more rise in new leased rents this past year this is louisville kentucky hartford connecticut, providence rhode island and honolulu the sunbelt is driving you read figures nationally to appear flat with an abundance of apartments steering granted to the negative user cities like austin, nashville phoenix where the cost of rent on new leases is declining according to the bureau of labor statistics shelter includes rent payments and utility payments was 5.4%
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higher last month it was a year ago. >> i expect interest rates to come down to more normal levels in my point of view job number one we get inflation back to 2% in high inflation is painful for everybody in the economy remain strong that will help you with affordability and of the housing and the mortgagor issue. >> there are many factors that go into this than a less than desirable housing market another one is job growth and by landlords may be able to keep continuing to raise their pr prices. liz: thank you very much, kelly saberi lookout pottery barn and williams-sonoma new force to be welcomed with with the home and kitchen lifestyle space the woman who grew barstools towards
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from original blog into a global digital media powerhouse is now the ceo of food 52 erica is here to tell us how she's made a dramatic jump from the barstool to the kitchen and why competitors should take notice she has the knives out a fox business exclusive. kitchen product finding recipes for success kitchenaid. lifetime brand is up nearly 39% rubbermaid has been tough down 22% and tupperware down 32% to a dollar 36. "the claman countdown" is coming right back. stay tuned.me ♪ things that work better together. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. across all your benefits and savings options. so you can feel confident in your financial choices.
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liz: fox business alert get it while it's hot home goods company williams-sonoma has slashed prices on the hottest names in kitchenware including the crusade, then the dutch oven that everybody is kicked up espresso, the in demand brands are seen discounts of up to 53%, this is the company and austin two for one stock split which i talked with pete najarian that kicks in june 27 and will trade on the split adjusted on july 9, the stocks are down very well rocketing 58% will continue to date williams-sonoma huge home goods including pottery barn and was down beware of the
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disruptor, food 52 is the website for all things home goods articles, recipes, kitchenware cookbooks the mrna new ceo the same one who took barstool sports from a reverent but tiny blog to a global giant that is quashing legacy sports brands right and left it is erica ayers bandan she is joining me in the fox business exclusive in a new book titled nobody cares about your career which dropped last week were to talk about that in a minute, i look at the other companies that are well-established and something tells me they better be nervous looking over their shoulder because you're quite the track record, what are you doing up food 52, you took the helm in april, so much disrupting everything that's what i learned from barstool sports, you can take on anything that you put your mind to it, there is a new way to do things and you talk about discounting big companies like williams-sonoma or discounting their way to growth, i think you
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can drive it to the internet, tiktok and storytelling needed to be that type of thinking and creativity that i will bring to food 52. liz: you have a track record and when you took over in 2016 i barstool sports, dave portnoy who's been on the show was a small business $12 million valuation in just seven years later you were at the hail to sell it to penn entertainment for more than half a billion dollars, i'm scared of you what did you do what can you translate from that experience to food 52. >> barstool had extraordinary growth we had 12 people and we were doing $5 million of revenue. >> 12 people and in 2023 we had 450 people we were doing. your million dollars in revenue i had the ambition to do the same thing in the home space and i was excited to work with women and work with a female founded company, i was excited to have female consumers home and is the
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third-biggest home and food biggest category and tiktok. , if you think about the opportunity that means for houseware and home goods and recipes and personalities the future is limitless. >> you also created a podcast over at barstools towards would you do that food 52. >> definitely i think you see traditional brands follow the money first in the consumer and the idea second and what we did really well at barstools sports we follow the fans if the fans were on tiktok them were on tiktok at the fans on instagram that were on instagram we will apply the same philosophy to food 52 and you will see us have disproportionately fast growth. liz: you want a brand that often needs to be promoted through a phase an individual dave portnoy was there and when you look at the lifestyle brands pioneer woman, chip and joanna for
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example, martha stewart, are you going to fondle and to follow that model we met we will have a lot of personalities and brand while dave portnoy is a unicorn is the best person i've ever worked with but we also had pecan kfc and kayla presley embryonic chicken fried by the time i left barstow we had a hundred brands led by a hundred different personalities and you can imagine food 52 created by amanda hester she's a big brand in the food world we will build another mantis were all different sorts of people in all different sorts of cooks in all different sorts of designers. >> a lot of merge. >> you were using the term traditional companies that are trying to discount their way to growth. if anything you were a totally untraditional ceo when you went to barstool sports you had never been a ceo and as you say in your book, the book is amazing, you say i was not untraditional ceo i did not have an mba and i
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did not go to an ivy league school i have adhd but i'm obsessive about getting things right. how important is that for people who say i want to lead a company but i have a climb the ladder. >> you have got to climb the ladder. i think everyone is very focused on what life looks like on tiktok or what life looks like on instagram and you know this work happens on monday and wednesday's and thursday night and thursday night playing at the beach i never knew i could be a ceo and i got the barstool sports job i beat out 70 plus men to get it it i was arguably the most or least qualified depending on how you look at it. but i knew i had no choice to make it successful and i would do anything and learn anything and try everything to figure it out and it's that type of getting your hands dirty, rolling your sleeves up and getting in the trenches that you don't see a lot of anymore and
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it's that type of attitude that makes winners and great companies. >> i want to clarify the title of the book when nobody cares about your career the asterix there, you have to be the one who cares about it, some of the things that you point out and all of this dropped the fantasy, there's no helping hand waiting to reach out and say come on the gravy train i'll help you jump up no golden ticket in the underscoring message is when it comes to being great at work nobody's going to help you but you. >> it is so funny i got a dm and my mother got me this depressing book and him like this is the least depressing concept nobody cares that your career is so free and what the messages you should care about for you and do what makes you happy and you
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should tell everyone else to pound sand and put the work into an effort and put away your ego and get over your insecurity and try and fail. i think it's ringing to think that nobody cares about your life or your job or your promotion or how much money you make. i think people tend to get caught up in what everybody else thinks. liz: you say be a self-starter, lose the ego and get uncomfortable with a comfortable fail, we know that many ways but the spin that you put on it is pretty much there is a way to get the attention of people who normally would not look at lower ranking people, how do you get if you're entry-level or middle manager how do you get the bigger bosses to pay attention without looking like you're an egotistical look at me look at what i've done. >> is your bosses boss know who you are a great question the answer is probably no but the reality the more creative and more consistent and dependable you are how much do you want to
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how much do you care and how much are you willing to do to help somebody else at work how are you solving 70 also problems. a lot of times i see this all the time people are like me i want to promotion i want this and that and the reality nobody cares about you what you doing to help somebody else doing something for somebody else you can help yourself. liz: legendary basketball coach i love this quote when he said nothing works unless you do but it's not just working it is reaching out, helping, learning and being in addition to an organization, good luck at food 52. it's great to see you once again, erica ayers bandan. nobody cares about your career, it's so chocked full of really great guidance i promise you you not to be entry-level you could be in the middle of your career and don't need to change fox business alert the u.s. stock
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market is closed but bitcoin (trade and look at the level of bitcoin it has not so quietly slipped from 71000 down to 64878 it's lower by $299 you the price of bitcoin since your one-month low, as you see the level it's a key psychological level for traders, hit a high of more than 73700 and march year to date the price of bitcoin is still up more than 55% it hasn't erased all the gains, the year-to-date picture on boeing is very ugly it seems like boeing struggles just to keep mounting on top of the aircraft manufacturers ongoing safety crisis in a string of lawsuits related to malpractice, but we is facing problems getting to nasa astronauts home from the international space station.
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they watch them into space earlier into the start line vehicle but the vehicle has a series of helium leaks in the propulsion system. it also has problems with several thrusters used to maneuver the vehicle. according to officials from boeing and nasa astronauts returned to earth has been delayed until june 26 that means astronauts will spend an additional 20 days in space. i would be freaking out that is more than double the originally planned eight days, boeing shares year-to-date are down 32%, compare that to ge aerospace and the gain of the same. 62% in an executive at the company is further advancing development of a hybrid electric engine with nasa the companies had a commercial engine and services said that the environment remains challenge for this year end likely for next year ge aerospace coproducers for boeing and airbus narrowbody jets, let's go to the ground automaker
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stellantis recalling 1 million vehicles in the u.s. and canada to fix a software glitch that could prevent rearview cameras from working, the recall impacts chrysler, dodge, ram and jeep models, the company is unaware of injuries or accidents related to the recall. last thursday carlos tavarez said h's copy was arrogant whent failed to reactive problems including manufacturing issues and ballooning inventory shares have struggled not too badly but over the past week alone down 5.7%. the ceo of the insurance company warren buffett is so when love with he is vacuuming up the shares and has his eye on the weather and very wary eye, evan greenberg is here in a fox business exclusive to tell us how extreme weather is having an extreme impact on the insurance business. when you remember the duncans super bowl commercial featuring ben affleck, matt damon, tom
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brady, j lo it was the most viewed this year in the most heard the superstar jingles composed by joel simon he wanted to be a rock star but got sidetracked when he realized bigger bucks and background music joel went from cold calling infomercials to launching jf in music which is the top jingle composer for super bowl commercials movie trailers, tv theme songs, how did he come to the most awarded production company in the world, he tells it all in my brand-new everybody talks to liz podcast episode yes erica ayers bandan was what my original guess listen on apple, iheartradio wherever you listen to your podcast we are coming right back with much more. then we unlike the other guys across the river our lives.
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liz: we are monitoring the gulf of mexico after the first tropical storm of the atlantic season formed earlier today on your screen alberto and named storm to reach the mexican coast today or early tomorrow with the tropical storm wording issue for coastal texas and this is what is scary that would include considerable risks of flash flooding, mudslide in a 4-foot high storm surge while alberto will bypass forwarded the hurricane season we seen in recent years has hobbled florida's state insurance system last year the hurricane alone caused estimated insured losses of 309 half million dollars at about 54000 claims over 7% of those filed after florida's last three major hurricanes are still open claims today and the issue is not just stateside global
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insurer chubb has a wary eye on nds cyclones in asia so we thought let's bring in ceo evan greenberg who joined me now and a fox business exclusive. you see the extreme weather events that have gotten worse is it fair to say i'm not a weather caster but you been in the industry for 48 years 20 of which you run chubb, however, the weather events change? >> nice to be here with you and it sounds like a mother weather channel. climate change whatever you want to think the climate is changing and has been changing in whatever you want to think the cause of it is and what percent is man-made but there is no doubt it is changing and that is creating greater exposure greater volatility and that
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shows up with availability and price of insurance ultimately. and if you think ultimately climate change sense price signals may be at the leading edge worth sending the signal of what it cost of people choosing to live in the matter of where they choose to live or work. liz: its mass evacuations from the wildfires in california not just the hurricanes in florida we've seen tornadoes in the midwest and of increase the number of tornadoes and of course she go over to india and you see all kinds of issues bangladesh people are dying 15 people killed this week alone and bangladesh and india as whatever erratic you could call it that, we are a business network and your business. how do you make sure that your covering your clients and also making money for your
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shareholders i make an exposure to extent so we can't take in limited exposure and concentrations of those exposures in the science allows us to build models and imagine what is the damage ability and the damage rate and therefore the size of lost dollars lost that can emerge from that into science and a bit of an art, then we imagine not just the severity how often is it going to happen some risk like hurricane are easier to model wildfire more difficult but the science is improving and floods are somewhere in between the ability to model flooding. liz: what won't you insure what if you turned down.
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>> i make up things in my mind ports with the rising seas they have to rebuild ports or who knows what's going to happen something would snap off what if you said no to lately i have a very active imagination. >> when we can't mention the risk we're in the business of underwriting and that is the business of conceptualizing risk when it's brought to us being able to therefore structure it and then assume it. if we cannot conceptualize the risk and understand it or it's a risk when you conceptualize it so great the odds are so great that there is no chance we will have a loss then we want take it. >> warren buffett has a crush on you guys on your stock he thinks you are the bomb he has bought
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up an incredible amount of the stock, 26 million shares take 6.4% of the company and here's why. did he tell you of this. >> he told the world but he told me he's been a huge fan of your dad in the aig and you obviously through osmosis got the tricks of the trade because you did a really good job with the company. the dividend, you look at a dividend of $3 and annual dividend of 364 a share and with all of his shares with you 94 million in dividends just by holding the stocks and predictable income and what you anticipate for growth, were actually a low yielding stock you don't buy us for dividends. it's about 1.4%, he's not buying it for the dividend and a very small percentage of our earnings do we pay on dividend it's one
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of the complaints others would have but were actually a growth company and earnings have been growing at double digits for the last few years and as we look forward we will continue robust earnings growth and were well diversified property-casualty and underwriting one source of income. our invested asset is interest rates have risen and at a higher rate than we have seen in a couple decades that's another source of income and we have a growing life insurance business in asia, we are a global company, over 40% of our businesses outside of the united states we are the largest commercial insurer in the u.s. and 20% of our businesses and asia. >> i can see why buffett likes you guys, i'm so glad you're here, please send your dad hank our best wishes, 99 years old,
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great to have had him on the show we just loved interviewing him in the past and i have one last question would you ensure elon musk going to mars? >> i would take that bet. if he gets on that ship i will take that bet. i think he values his life. >> good to see you thank you very much, evan greenberg of chubb, as we wait for the market to reopen tomorrow in futures are reopening in a couple of hours more waits for no one israel boarded about the possibility of all out war if hezbollah continues the cross-border attacks from lebanon and has blood the terror group threatening a mediterranean island for helping israel. working to take you live to tel aviv for more increasing tensions and a possible expansion of the eight -month-old war, we are coming right 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: "fox business alert." we have breaking news. a bulk carrier has been sunk in the red sea after being hit by a bomb carrying boats sent by houthi rebels. one sailor died in the attack, liberian owned, greek it operatd
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ship. israel warned that they could face all-out war if attacks continue from lebanon. israel has approved offensive plans. the head in a televised address, threatened israel not just israel but cyprus, the third largest island in the mediterranean. if israel carries out full-scale offensive against the lebanese militia in the cyprus territory, that israel will have no safe place between our missiles and our drones. the relationship between benjamin netanyahu is now even more tense, trey yingst talks about the dust-up. >> reporter: a feud unraveling between israeli and american leadership over weapons shipments to the middle east. just this week israeli prime
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minister benjamin netanyahu in an address slammed the biden administration's for halting weapons shipments to his country. and we're talking about bombs for fighter jets that might not only be used in gaza but also southern lebanon n response the americans canceled a scheduled meeting with israeli officials according to a source familiar, something the white house denies. the americans have expressed concerns over u.s. weapons being used in gaza where the civilian death toll continues to rise. u.s. secretary of state antony blinken responded to netanyahu's comments. >> i will not respond to what we said in diplomatic conversations. i can just say, i can just say again, that we have a commitment to make sure israel has what it needs to defend itself against a whole variety of threats. >> reporter: that commitment comes as israel prepares for possibility of a much larger war with the iran backed militant group hezbollah. the racially military said
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operational plans were approved by the head of northern command to take action against lebanon. sirens sounded across israel over new attacks by hezbollah. israel had new strikes ah into lebanon as cross-border fire continues. the questions whether the larger war will erupt. officials are are telling us the discussions are on going but the window is closing. liz: thank you, trey yingst. eli lilly stock, not just nvidia rose to record in yesterday's trade. lilly did too to $849. after a analyst said lily's oral g-1 coexpand the. joining us blank schein wealth management cio robert schein. robert buy them, buy lily, which
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one do you like? >> you can take your pick, liz. we like really lily. also the competitor novo-nordisk. the gl-1s are just getting started. the total addressable market is insane and just getting larger. liz: it is getting larger. in fact lily had some positive results for one of its therapies for weight loss and talk about that and why you think this could really be great for stuffing the channel at least for more customers? >> yeah, you're going to see a lot more benefits than you know, every drug you have out there has a risk but there is a lot more upside if it is applied properly such as for the here as well as diabetes and also some positive news came out helping dementia patients. the gamut is running larger and larger. it is five billion total
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addressable market today. it is 100 approximately. that will make eli lilly a trillion dollar company before you know it. liz: eli lilly is nvidia and as well as novo-nordisk of the weight loss drugs. give me your macro picture. what will serve as the catalyst for the second half? >> right now it is coming down to earnings. the first-quarter earnings were, we saw positive earning growth from the s&p 500. you will want to stick with the large caps, large over small if you will. that is going to continue to work for the back half of this year. we anticipate we'll get some help from the fed, maybe september, maybe the day after the election in november and that will also help accelerate. but the at end of the day, earnings, last 12 quarters of earnings we saw profitability, profit margins of the s&p 500 up 12%. liz: great to have you. thank you so much for joining us. folks, tomorrow subway north american president douglas frye. ♪. larry: hello, folks, welcome to
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