people -- punish people for voting a certain way. and think about this, in communist china they have those social scores and they monitor what you say, what you do. and what they'll do is they put this on your scores, and they punish citizens. they punish them for their opinions, for their policies, for ideas. their kids can't go to certain schools, they can't bank. so let's avoid the urge to go in that direction as it could lead to the a system that routinely punishes its citizens. and at this point, folks, question a all want to kind of get away from this and protect the rights of individuals. in the meantime, buckle up. this last hour of trading taking us to the who major earning reports. i can't think of anyone better than our own liz claman -- liz: i would like us to cancel every commercial. [laughter] i mean, i know we can't, because that keeps us going -- [laughter] but we have so much news, a charles. i mean, let's just start with this, we're 59 minutes away from the first of the magnificent

seven stocks to to report quarterly earnings, and the pressure if for both of them is on, but let's start with alphabet. this is arguably the first earnings report where investors fully expect to see concrete signs, they're been weight for them, they want concrete signs from the google parent that its costly a.i. inti gration into its search business is starting to pay at least some dividends here. analysts do anticipate a 13% jump in revenues to $84.19 billion. $73 billion of which should come from services. ahead of the report we've got alphabet up about two-thirds of a percent. the he'ses rah's also idling on the earnings deck up after the bell -- tesla or -- it's a toss-up as to whether the numbers or ceo elon musk's new frame being of theers v maker as an a.i. company will gun the stock which is flat year to date. right now it's down about 1.5% on the session. he is pushing optimus, his humanoid a.i. robot that he plans to first roll out on his

uh-huh auto assembly line as a potential revenue stream. but analysts do expect profits to have fallen in the wake of tesla price cuts and slowing china sales. we'll be watching that very closely. earnings are out this morning are buffetting the market all over the place. we've been red, green, red, green. green on your screen, we've got the dow up 48 points, the s&p up 3 and the nasdaq is up 30 points. we're looking at the s&p at the moment. it actually is so interesting because especially with the nasdaq it would be higher if it weren't for at least some of the names that have already reported earnings not doing well, some are doing well. so let's get right to the floor show to sketch out how earnings reports are showing the real muscle. dutch master of carnivore and matt desock of bank of america are both here. dutch, all you have to do is look at the biggest laggard on the dow to see the power of an

earnings report. disney is down 3.25%, all the way at the bottom of the blue chips, but disney hasn't even put out second quarter numbers yet. its rival comcast just did, and universal theme parks' revenue dove 11%. i guess tourists are lightening up on their travel. what does that tell you about the power of the next few weeks' reports? >> well, i think the next couple of weeks we're going to see more of a high margin companies reporting, and we're really looking forward to seeing some of the technology stocks take over and take the lead again. we really need to see them take the lead. liz: it's interesting though, if you look at tech or not, ge, for example, ge aerospace came out with numbers, did very well. and that stock jumping pretty exponentially. that's certainly helping the s&p, i think it's the second best leader on the s&p 500. and then if you look at the nasdaq and nxpi, they did not have a good earnings report, and

they're biggest laggard on the nasdaq 100 to. doesn't this speak that the market is almost refocusing on earnings versus, i don't know, that rotation, that raging russell rotation everybody talked about? >> yeah. we think that maybe it paused a little bit, but we still see a lot more upside for the rudds el, and we deal with the russelt the russell will outperform. we see upside in bitcoin as well. we are move if being downstream below $10 billion in market cap with our investments. liz: russell is interesting. month to date it's up 99 compared to something like a 11.9% gain -- 11.9% -- 1.9% gain for the s&p. but, dutch, what are you looking at right now? you just talked about a tech. are there tech names as we wait on alphabet and we wait to see whether the a.i. spend that many of these companies have done billions and billions of dollars is starting to pay a back or at least monetize? >> well, when you go to tech, we

like reddit. you know, fairly new trading stock, not a lot of overhang there, not a lot of sellers. everybody's pretty profitable there. we like ttd which is the trade desk, so that's really sort of ad a tech. and they've been good to us over the years and done very, very well. asmc is another one, americans supercomputer. this is one that we've ridden all the a way up almost 10 points from where we first entered the stock. and then, you know, there's some other things in medical technology the like tmdxx which is a medical device that helps extend the life of organs for transplant. liz: look at a name, for example, like vertiv. a.i -- actually, pretty much a digital and, you know, they

build up everything that a drives a. a i.. and so when you think about that, we've got the ceo on tomorrow because they're coming out with earnings. >> excellent. liz: but this is a fascinating company, is it not? if. >> sure. liz: and it has helped you drivg to the to believe this. why do we listen to dutch? because his portfolio year to date is up something like 300, dutch? is that what i'm a looking at? >> i think we're around 368 right now, yeah. liz: 368%. so when dutch is picking vertiv, you might want to listen. who knows where the market goes but, dutch, thank you very much for weighing in. that is an impressive return so far when it comes to your portfolio. >> thank you. liz: we need to look at treasury yields, folks. at this hour we're looking at yields falling. we do have the next federal reserve meeting just eight a days away. does the fed if have to call an audible to cut now versus later in we're getting two crucial readings on the economy in the next couple of days.

inflation, all of that could change everything. first, we're getting the second reading of second quarter gdp on thursday. the estimates are for growth of 11.9% -- 1.9% compared with a prior reading of 11.4%. and -- 1..4%. and june pce, the personal consumption expend hur, that comes friday. estimates are for an increase of one-tenth of a percent month over month. we're getting closer and closer to that federal reserve target of just 2 inflation. that's what they want to see. here's the core. prior was 2.6. year-over-year estimate for that is 22.5%. so -- 2.5%. let's bring in the fixed income guru over at bank of america's private bank. so, matthew, can you just tell me what you're expecting? if we are eight days away9 from the federal reserve meeting for july. nobody expects a rate cut and yet the "wall street journal" is coming out, a piece from friday, saying it's really time to cut now. >> it is time to cut, but chair

powell's making our jobs very easy, because he's going to overcommunicate, especially in an election year, especially coming off a 9.1% inflation rate a couple years ago. he's going to carefully telegraph. you mentioned the reports we have coming up. low bar is the hit. even if we miss slightly, it's probably not going to derail what the market expects. market expects a cut in september, probably one in november or december or possibly even both. you look at until january of next year, you're probably going to get three cuts can -- liz: it's almost like he's messaging in stagings. first, it was we might likely cut rates before the end of the year. then it was the disinflationary trend -- that means the slowing of inflation, folks -- disinflationary trend is picking back up again. and now it's, well, we start to see risks if you keep them too high for too long. we're at deflation if when with you look at at least one metric, cpi, month over month. if negative one-tenth of a

percent. i think you and i were the only ones to point that out. nobody wants to say deflation, but are we really in a deflationary environment, and must we see a rate cut at the latest by september? >> you're right, we did see one deflationary reading, and chair powell is back to where he wanted to be at the end of last year. he wants to cut rates, so he's going to set us up at the meeting in about eight days. most likely it's going to be in september. bank of america's official call is not changing just yet, but it looks like september's going to be a lock, at least the market's expectations, which makes sense. the the fed funds right now is 5.38, more than3 % above the fed's inflation target. rate hikes are working. all the economic data in july was telling you that whether it's employment, inflation, purchasing managers' surveys -- liz: if you could pick one point on the yield curve, one duration bond treasury, what should it be? >> in general for the average investor, probably 10 years is where you want to extend out at

this point. again, it's not a call that rates on the long end are definitely moving lower from here, but we have very high conviction on the short end, rates are definitely going to move lower, that curve's going to the normalize. time to extend out. liz: well, if you did it right now, you're getting 4.245 yield. matthew, thank you very much. all right, streaming is not just for netflix. spotify investors are swimming with the current after releasing second quarter results. we're going to tell you why the audio entertainment stock is blowing out the speaker, hitting a 5 2-week high. and tomorrow you've got to tune in or at least set your dvrs to "the claman countdown." we have alan patricof on which presidential candidate he believes will be the best growth driver for a.i. tech, and that's assuming the democrats have kamala harris at the top. that's tomorrow at a 33 p.m. right here on "the claman countdown." dow jones industrials up 46 points. ♪

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liz: fox business alert, looks like price hikes are still, working for spotify. the audio stream's stock is blasting the disbells at this hour gaining 12.5%. earlier it hit a 3-year high of $343. it's still at 3322 at the moment. -- 332. this on pace for the largest percentage increase since october of 20919. spotify's bet that the consumer would pony up for premium service is paying off. the company reported a second quarter profit beat, record profit margins and an additional 7 million premium subscribers. luxury goods maker lvmh, on the other hand, missing the mark. the parent company of louis vuitton, tiffany and key your

missed first -- dior missed first-half estimates. lvm if h said geopolitical uncertainties continue to impact specifically wines and spirits. the stock down about 4%. flip it over to share this is of chip designer arm holdings, gaining 5.25% at this hour after morgan stanley upgraded the stock to overweight from equal weight. morgan also raised arm's price target to $1900 per share from 107 -- 1900. right now it's at 172 and change. -- 190. arm reported earnings next wednesday after the bell. apple also getting a bump right now of about half a percent on reports that the iphone maker is working, finely, on a foldable phone. the information reports that the phone could be released as early as 2026. shares are also gaining on the back of a price target hike. wells fargo, this is kind of funny, hoisting its previous $225 price target to $275.

why is that funny? well, i found it funny because apple is $1 away9 from the first number, 3225. it's at $224.99 5. so they had to move it up. they were going to be caught flat footed here. crypto in the spotlight on another historic moment for the digital currency world. the first spot etherium etfs opened for trade this morning. blackrock's launched one of them. the wealth management if firm head of etfs, jay jacobs, is here to tell us how day one is working out along to with with top crypto investor anthony pompliano on whether this is the floodgates open for dozens of other digital currency etfs. maybe, who knows? "the claman countdown" is coming right back. b ♪e .. and more about discovering magic. rich is being able to keep your loved ones close.

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liz: fox business alert, another long-awaited crypto etf liftoff has finally arrived, and when they opened for trade this morning, volume for the nine spot etherium etfs spiked. but the price is going in the other direction at the moment. gray scale, franklin templeton, invess coe glx city, vaneck and blackrock shares lower by anywhere from half a percent, a third of a percent to more than 2.75%. the etfs track ether, that's the native cryptocurrency of the etherium blockchain. now, in the hour before if the e etfs launched, ether itself crossed the $3500 mark.

right now it's at $3,488. and, by the way, it's up 53% year to date maybe in anticipation of what's happening today, the launch of the etfs. do at least the losses for the spot etfs indicate enthusiasm has disappeared into the ether, or is this presaging major adoption? blackrock's jay jacobs is here with crypto bull anthony pomp pompliano of pomp investments. jay, you guys have extha, that's the ishares ether eff. how's it going in i know in the first 15 minutes all of them collectively crossed about 112 the million in volume. >> yeah. and if etha's traded over $200 million, orderly markets, tight bid-ask spreads, so i think this is as a great of a start as a we could expect. the key is investors are using

this tool as intended. it is a efficient, convenient vehicle to get access to ether, which as we've seen with the launch of ibit this years and the interest in bitcoin, there's a lot of investor interest in getting digital asset exposure through etfs. liz: why is yours down just two-thirds of a percent whereas some of these others are down 2.6%? the don't you all do the same thing? >> we should be trading relatively tightly. i think there's some nuances around activity in trading, but at the end of the day, our etf is going to track very closely the what spot etherium is doing -- liz at the end of the day, what will the sol volume hit, in your opinion. >> i think collectively it's going to be over a billion dollars -- liz: what was bitcoin's spot etf? >> it was a few multiples of that, but this is an extraordinary amount of trading for an etf -- liz: yeah, put it in perspective compared to others. >> this is one of the most historic days. in the grand scheme of things,

this is a tremendous amount of interest. liz: pomp, you have been a crypto act a lite for years -- act a lite for years. are you buying today? tell me what you're doing with ether. >> yeah. i'm not wieg any either, but i do think it's an important moment because the bitcoin etf was the first asset through the threshold. but there was a lot of people who sat there and said it's only going to be bitcoin. right? it's the only one that's going to get the regulatory approval. everything else is going to be a long time. i think now we understand not only, only, is ether going to get through the threshold, but it probably signals there's going to be the other asset as well. really i see this blending of the traditional financial system with kind of this crypto ecosystem. the fact that blackrock is such a big player, many others that are kind of the competitors or colleagues, i think that's to showing us these assets now have entered into the wall street kind of ecosystem, and they're not going to go away, if that gives investors a lot of confidence.

liz: okay. who's next in your opinion, pomp? >> that's going for the regulators to decide. you can kind of work down the list -- liz: throw me a guess. >> well, vaneck, i think, was the first to file for a solana etf, so they want that to be the next one. doesn't mean it will be. i think they're going to looked at market cap, is there enough trading volume, are there enough investors, is there enough interest for the issuers to run a sustainable business in offering these things. i think you'll see them work down the list. liz: what about blackrock? are you looking at the next iteration for these crypto etfs? >> our focus is on bitcoin and etherium, and one of the reasons why is 75% of the market cap of crypto assets falls within those two a sets. so you can get a lot of -- assets. so unget a lot of exposure across the digital asset ecosystem just by looking at those two. and that's where we see the most liquidity and client demand -- liz: shouldn't we be clear to

viewers that ether is consistent from bitcoin? bitcoin is almost like the digital cold gold, but ether is sort of the picks and shovels because it also has this underlying blockchain. the etherium block chain which, basically, is one of these platforms that can build up contracts, and if you say this, this will happen, and it automatically end courages it to go forth. and then there's the actual, i guess the ledger which deeps every record of what's -- keeps every record of what's going on. >> bitcoin is kind of digital gold, and i think people across the market, even create -- critics agree that's what bitcoin is. etherium, you know, there's kind of a bull and a bear case here. the bull case would be people want diversification. it's one of the core ten innocents in investing in traditional finance, so people say i don't just want bitcoin. what else do you have? so being the second one is pretty important if you're a diversification asset. on the other hand, people are going to say, hey, evaluate it just on its own, i think the

story isn't as clear as bitcoin, so there's a lot of people trying to figure out how do we educate people on why should you buy it. and one of the things with these etfs in particular, a huge reason why people want etherium in the spot market is there's some income generation -- liz: yield. >> right now that is not able to, if you buy the e tennessee fs -- liz: i get that. >> i to do think it's probably going to change other time, i think that'll be a second kind of leg for these assets where if now all of a sudden you can buy it and get some yield off of that asset, that'll be a pretty special moment as well. liz before with we go, companies merge all the time. do either of you ever envision seeing two cryptos merging? let's just say she sheba e knew and doing. is that ever a potential and you get an even bigger opportunity for another etf? >> probably not for the foreseeable future but, again, and anthony was saying this well, i think questionersification across crypto -- diversification is

going to be the focus of investors. they can get both bitcoin and etherium through etfs. >> i do think that the etf issuers, there's going to be some consolidation. i'm an investor in bitwise n221 shares, they all have different etfs. if blackrock wants to to write a big enough check, i'm sure they would sell themselves. [laughter] i think there'll be some con consolidation on the etf side. liz: pomp, jay, it is a historic day either way with. i think you'd both agree. thank you very much. especially considering the securities and exchange commission didn't want any of this -- [laughter] and now they have it. few have fought harder for the market's respect of crypto than back ins city digital founder and ceo mikenovogratz. the billionaire's invest etherium etf got the nod from the sec to start trade today. mike's coming up next on that. but he's also a fast become a player in the democratic donor galaxy. if is novogratz to endorse vice president kamala harris as she

jumps into the 2024 race? she just held her first solo campaign event minutes ago. we're going to get a live report from milwaukee and from mike. if success is sweet, then dylan lauren has a lot on that flavor. at age 16 she told her designer dad ralph lauren, no, you can't use my name as a perfume because she had bigger plans for her brand. that plan was to turn the her obsession into candy by outright capitalism by opening dylan's candy bar. you've got to hear my brand new everyone talks to liz podcast episode. dylan explains how she took the candy store into airports across america. you can hear it wherever you get your podcasts. we are coming right back with so much more. nasdaq up 39, s&p in the green as well up 5 and the russell upd 332. h we're coming right back. ♪ th into freefall.

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♪ liz: breaking news, president joe biden now back in the white house at this very moment. he landed at joint base andrews in the last hour after a leaving delaware where he was recovering from covid. this, by the way, this video you're looking at is the first time he's been seen in public since being diagnosed last wednesday. he dropped out of the presidential race, as you know, back on sunday. the president's doctor saying today he has now tested negative for covid, and his symptoms have resolved. biden plans to address the nation from the oval office tomorrow night 8 p.m. eastern, toes discuss how he aims to, quote, finish if job from the fern -- for the american people in the reminder of his term. mean if while, vice president kamala harris spoke in milwaukee just a couple of minutes ago in her first campaign event since claiming the top spot on the democratic ticket. it comes as she locks up who two key endorsements from a pair of powerful members of her party. fox news' alexis mcadams joins us live from wisconsin.

alexis? >> hey, or liz, well, there were about 3,000 people inside of this high school gym behind me. her message remains, vice president kamala harris, who now is a presidential candidate kamala harris, here in wisconsin really trying to sell herself to the voters in the dare dairy state -- dairy state. she's been here a dozen times, and she told america they cannot vote for donald trump saying he is a threat to democracy. listen. >> and there's a reason for that. the path to the white house goes through wisconsin. if. [cheers and applause] if yes, it does. and to win in wisconsin, we are counting on you right here in milwaukee. [cheers and applause] and you all helped us win in 20 20, and in 2024 we will win again. [cheers and applause] >> reporter: that came just

hour this is after harris locked up the nomination support for democratic delegates. harris taking the stage here with about 3,000 voters in the bleachers. kamala, a former prosecutor and attorney general, or telling the crowd she has what it a takes to beat trump and calling him out for his criminal record and those court cases. harris has been on the trail with only about a hundred days left, she now has the endorsement of very important democrats like senator -- senate majority leader chuck schumer and house minority leader hakeem jeffries coming in just hours ago. harris has visited wisconsin quite a few times showing just how important it is. voters say they are committed for harris, feel like she she has so much more energy than biden did, but they're not if positive she could beat trump. >> youp i don't know -- i don't know who. >> i was not inclined to vote with biden because i didn't like him, and now that she's here, i see it's kind of a reset, and i want to see what happens. >> i don't know if she's going to win, it's a toss-up. but i think she has a decent

shot. >> reporter: but as kamala tries her best to win over voters here in wisconsin, we know she's heading to indianapolis tomorrow, liz, foment news just caught up with former president trump a few moments ago, are you willing to debate kamala harris, he definitely wants the chance, and kamala said she'd put her record up against trump's any day. liz: in fact, donald trump said he will debate her once, twice, as many times -- he's fine with more than once. alexis, thank you very much. as fund raising does pour into the democratic party, the harris ticket is grabbing some hollywood star power. george clooney said, quote, we're all so excited to do whatever we can to sport vice president harris in her his toxic request -- historic request. others include actress and singer barbra tries and, actor mark if hamill and spike lee. but one supporter still on the sidelines. will he endorse vice president

harris? let's ask him right now. galaxy digital founder and ceo mike novogratz. mike, you haven't endorsed her yet. will you? [laughter] >> listen, i worked pretty hard over the last 18 months to have youthful candidates, and so far, you know, the presumptive nominee, kamala harris, has come up with good energy and has excited the party, right? fund raising over $100 10 million in the first day. we haven't seen kamala harris in three and a half years, and i want to taken -- give her a week, a month, two months to show up who she is. as a senator from california, she had a very progressive voting record, and i just don't think that's where america is right now. i think the country is looking for something in the center, decency, common sense and strong economic policy. so i'm hoping we're going to see a different presidential, you know, presidential nominee.

kamala harris, than we saw senator harris. i think the country needs that. i think we'll see with her vice presidential pick probably someone like a josh shapiro or mark kelly, you know? a common sense, ken ken centris. and if that's the ticket and that's the case, i think she's got great, great chances to win in the fall, and i'd be happy to see it. liz: because you had been one of of the early agitators to get biden to stand down because you noticed a bunch of problems with his mental acuity. i remember talking to you months and months ago, and there was a lot of concern about that. in fact, you started to look at a dean phillips, the congressman from minnesota, and you really supported him. i think you thought about having a fundraiser, you did have one for him. he's already put his hat in for her. and, therefore, we haven't really seen anybody challenge her yet. >> listen, i think all a democrats are going to support kamala. what i'm hoping is she listens and and takes the temperature of

the american people and pivots prosecute far left to the center. from the far left to the center. again, i travel a lot, i've spoken to a lot of people, america is hoping for someone that moves to the center. the republican national convention didn't. it was, you know, it started looking like it wanted to, and it was progress aggressive, the tone was aggressive, the tone was us versus them, and i just think america needs to move beyond that. is and so if this is the business as usual, listen, i'm going to declare myself an independent. if the democratic party moves to where i think america is, i'm going to be a huge supporter. liz: speaking of vp candidates, j.d. vance in his first speech at the republican national convention called wall streetern mind the democrats don't like bankers very much if you listen to elizabeth warren of massachusetts. but he called wall street barony robber-barons, but he called them barons, and he was speaking

out against them, and he blamed the wall street money class for the financial crisis. what do you read into that? >> well, listen, it's awfully rich given that -- [laughter] peter thiel has been his big backer, the whole silicon valley crowd now, david sacks and elon musk with his $45 million a month to vance's and trump's campaign. and so i'd be very careful throwing rocks in glass houses if i was j.d. vance. liz: yeah. let's shift our focus now to your ether, spot ether etf which launched today, the invess coe galaxy etherium etf. we're seeing a little bit of a pullback today, but tell me what the message at 30,000 feet is about the fact that nine of these funds were approved just six months after the bitcoin etfs were approved by the sec? and that took so much longer. >> yeah, listen, you know, you've got the qqqs, we are

the q eth -- the. [laughter] so hoping it gets off to a great start. i don't think it's going to have the same start as a bitcoin, right? that was the first one. you had larry fink and blackrock showing up and saying crypto's important. but etherium is just step two of the institutionalization of crypto as an asset class. and i think it's important. our galaxy is research thinks that 20% of the flows into bitcoin will show up in e etherium in the first six months. remember, we've had about $690-700 billion of market cap -- 60-70 billion in mark caps added to bitcoin, and so that's real dollars. crypto's come a long way with. there is a conference in nashville this week where -- liz: donald trump's going. >> -- donald trump is going to speak, and the rumor is he's going to make a big, big statement. a national bitcoin soifer serve or something very p.o. s i think

the republicans certainly got the message that there are a lot of single-issue voters that care a lot about crypto. the 'em the accurates had been horrible on this issue really under the leadership of elizabeth warren and gary gensler -- liz: joe biden putting gary gensler in charge of the sec and not sending a message that crypto might be something that a lot of the american public owns or wants the own. >> yeah. the democratic party is shift ising quickly on that. they get it -- liz: how can you tell? the how can you tell? >> well, we had two votes, right? first, the fit 211, a lot of democratic, 70 democratic congressmen voted against the core of the party. they voted, they voted to overturn -- liz: yeah, the rules, the banking rules that made it -- >> the custody rules. and so there's a definite shift

of pace. and i think with biden stepping down that nexus to elizabeth warren and gary gensler and that anti-crypto gets diffused a lot. if the democrats win, we'll still see positive legislation in the fall. if the republicans win, it's going to be that much quicker. i think for our industry social security good either way. i'd rather have this be a bipartisan issue. i don't want, oh, the it's a republican issue and then all the a democrats are going to hate it. this is a technology that's good for america, for our national security and for jobs. i think of my own company. we've created 491 jobs in the five or six years we've been in existence, and they're high paying and big tech jobs. so we should be feeding this industry, not trying to slow it down. liz: mike mauve if greats, do w. tell us first if you're going to endorse kamala harris. we want to hear what wall street

people think and what they are doing. we appreciate it. >> thank you. liz: a big crypto proponent who is also a billionaire is saying that he's now getting calls from vice president kamala harris' team regarding the digital currency. who is it? charlie gasparino's going to break it next. i hope mike's still on and listening because this is a big marriage a very big -- well, should we say fish or another water-bound animal? that's next on "the claman countdown." ♪ daughter: hey, dad. dad: hey, sweetheart. daughter: what are you doing? dad: i'm gonna clean the fence. daughter: it's a lot of fence. dad: you wanna help me? dad: aim at the wall, but get closer. daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot and cares even more...

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>> so we know it has been a big day for crypto. lawn of nine spot etfs on wall street. the move as crypto is becoming a political chess piece for former president donald trump who vowed to embrace the country's 50 million crypto owners in the hopes of harnessing her votes. now that biden is off the campaign trail can kamala harris pull crypto voters back in their direction? charlie gasparino with breaking news on one big money name. >> she is going to try. mark cuban has been out there on the tape saying that the harris campaign has reached out to him for advice on crypto. he confirmed that to ellie, i think either bloomberg or

"politico" broke the story, i can't remember which one, excuse me. mark, we called him, he confirmed. he is saying it. this is really getting interesting. this is totally rumorville, okay. lay it out there totally rumorville there will be a huge bitcoin conference in nashville later in the week. donald trump is scheduled to speak on saturday. liz: we mached to mike novo gratz. >> the rumor people folk to the conference, kamala harris is asking for a speaking spot. we have not got that confirmed. maybe she will send a surrogate. or maybe a nothing burger. that rumor is coinciding, just a rumor as cuban is telling people that the campaign is reaching out to him. i guess what does that mean? i am still skeptical about crypto, a viable voting bloc, but what do i know.

liz: 50 million. >> will they vote. the money trump gotten from crypto is not blow away money. a few million from the winkelvoss and a few others. we'll get a better feel for this as the campaign goes on but it does seem to me that the democrats are taking it serious because, as we, ellie, my producer has been all over this story. the republicans are really making inroads or trying to tap into that. liz: rfk, jr. has a speaking spot at the conference? >> oh, does he? interesting. liz: yeah. >> there will be some interesting news coming out of the conference. stay tuned. watch us. look at foxbusiness.com. we'll have some breaking news, curtain racer, breaking news what might go down at the conference. i think there will be some interesting breaking news coming out of there in terms of the future of crypto but also political news.

you know donald trump is going to speak and we'll see if, if kamala harris speaks. it will be interesting if she does. if she does it just catapulteds crypto into the stratosphere. liz: today, with the other etfs, acknowledged by sec what people want. it is very orderly. jacob was on earlier in the show it was an ard early trade. >> take the political season a little further, joe biden wouldn't have the wherewithal to make that trip to "nashville.." he just not, we're praying for him. a man obviously declining in his health. kamala harris does and you think, where people, the trump camp is underestimating, you know, she is going to go toe-to-toe with him where biden couldn't. this is a whole new ball game. i know the polls are very close

or show trump ahead. she will be well-financed. she will play hardball. liz: charlie, thank you very much. you want to talk about some kind of ball, there was a jump ball at the top of the show. even though all the markets were in the green, we told you they have been in and out of the red. now everything is changed, pretty much except for the russell 2000, the dow is down 73 points. s&p has also reversed course down 11. we've got the nasdaq down 22 at the moment and the russell up 23. maybe the rotation still in play here into small and mid-caps. as we continue to watch this very closely, two tech titans, google parent alphabet and tesla are on deck to report earnings after the closing bell. minutes away from the big reveal. we're looking at stocks ahead of it. alphabet is almost flat now. it had been up 2/3s of a percent at the top of the hour. tesla down 1.6%. our "countdown closer" says forget the rotation out of tech into small and mid-cap for the

moment, you have to stick with large cap stocks. regions chief investment officer alan mcnight. large caps, really? >> i think given the year-to-date performance, when you look at disparity earnings growth between the two, we'll see some of that with alphabet, we still want to play that trade, we still think there is opportunity, given earnings momentum, given that growth, small caps are not producing from earnings perspective. liz: do you any concerns that google may must that expected 11% up in revenues because a.i. is not pulling in the coin? this is arguably the first quarter investors say enough with the spending we actually need to see some money coming in. >> is a challenge. voltaire quote, doubt is uncertainty condition. we do know we have to start seeing some returns on these

investments to your point. we have billions of dollars spent incremental benefit of efficiency and productivity hasn't been there. liz: hasn't been there. when you say large cap, do you mean tech large cap or do you mean something else? which sectors of the large cap universe would you like to stand. >> tech, we pared back, last two months because they had such a nice tailwind. with he shifted into things like industrials, we shifted into utilities. we have not been interested in catching a falling knife in things like consumer staples. it is a difficult place to be. we really tried to steer clear of those. liz: why? do you think there is 20% chance of a recession, goldman is calling for something near there? >> it is something near there we see such margin example. we don't think consumer staples can deliver on that because costs are high and growth remains stagnant. liz: what should investors absolutely avoid, alan.

>> timing the market. liz: hasn't that been the case for the entire year? >> it has. at the beginning of the year people were concerned about the market you need to get out, you need to take your gains, we said all along, hold the positions wait until we have economic data. it worked so far. liz: year-to-date the dow is up 7%, but 19% for the nasdaq year-to-date. 16% for the s&p. 10% to the russell. people kept listening to those there would be a selloff, i hate to say it mike wilson, morgan stanley. >> it is tough to say get out of the market. the challenge for us going into earnings season to your great point can they deliver on these earnings numbers because that is driving the nice tailwind we have. liz: earnings, exactly. google, tesla after the bell. we saw ups, spotify, this morning, general electric, they're all moving in different directions. they have the power to affect the markets some way, shape or

form. what do you say to investors who maybe might see if there is a miss with google that the entire tech sector sell off, what do do with their tech names? >> we say hold in there. look at case-by-case basis with those companies. what you see with alphabet, is different from nvidia and microsoft. what you want to do is peel back the onion a little bit. determine how much is idiosyncratic for that company. how much is a broad slowdown in tech spending great to see you, alan. thank you very much. 58 billion assets under management. that at regions with alan. thank you very much. here we go with the closing bell. four, three, two, one, here it is. [closing bell rings] tomorrow at lan patricof, the silicon valley guru. we have him on all things tech. ♪. larry: hello, folks, welcome to "kudlow," i'm larry dl