headline from this morning. there's 22 million millionaires in the united states. that's 38% of all the millionaires in the world. we're only 5% of the world's population so moments after reading this article, i see another one and download the report and another one about a spike in homelessness. a record spike in homelessness. most milli millionaires and most homelessness. lots of people think the answer to this is more government handouts but only puts lower income folks in debt and makes rich people richer and same thing. if you want punitive tax policies, same thing. i have an idea, tweak our education system and let's stop attempting to punish success and pave a road to more prosperity and for those that might desire a little report that noted 352% of folks have a chance of flagging out of the highest wealth bracket. liz claman over to you.

liz: we have a lot of breaking news, chars. some is global and some market relalalated and t minus 59 minus from the first earnings report and member of $3 trillion ai tech club and that would be microsoft that reports quarterly numbers after the bell. ahead mr. softy down 1.5% and that's only part of the reason the nasdaq is under water as we kick off a busy final hour of trade. dow jones industrials is actually in the green by 124 points. s&p losing 33 or about two-thirds of a percent. nasdaq, check that out. down 223 points and before the market opened, nasdaq sprang a leak and tech investors rushed for the lifeboats as index dove underwater where it's steadily sunk and right now off the lows of the session that was a loss of about 354 points still down about 230-6789 okay, crowd strike shares, share kind of what blue a hole in the hull. down 10.6% on wall street

journal%. it and partner microsoft are about to be hit with a lawsuit by delta airlines. on july 1st, a faulty software update triggered mayhem around the world for cybersecurity customers including amd, sorry, including as we would say some of their customers like delta airlines and delta is the one that's going to file and has apparently hired a top lit gator david boys. look at ai chip makers, amd that reports after the bell is down about 1.5%. nvidia down 6%. qualcomm lower by about 5%. arm holding second day in a row of big losses here at 6.13% and dominant ai chip maker part of the $3 trillion market club and nvidia plunging to lower level since may and stock is now goosander $5 away from dropping below $100 per share.

israel carried out a targeted strike in lebanon and we knows against the hezbollah commander responsible for the weekend rocket attack in the area that killed 12 children and teenagers. first report of a loud blast heard in beirut hit the tape at 12:45 p.m. eastern time and you can see the pronounced drop in 5 year and 10 year yields and israel confirmed around 1:00 p.m. they struck back after the murderous attack over theked some of them arabic children and all this as federal reserve members behind closed doors for the federal reserve policy meeting. waiting to hear in this hour tomorrow whether the fed will signal a federal interest rate cut. nathanial hacketteny nodo running sofi and reported a big

boost in lending and banking and tech business. anthony, let's tackle the fed and wall street betting the fed is unchanged at decades high. >> it's likely inflation has come down and inflation ticking up a bit and urgency to relief some of the fiscal constraint that's been there for the last two years as we've seen a 500 basis point move in rates so i think we'll likely get a move in september and the question is is it 25 basis points or 50? more likely 25 basis points and it's much easier than making one large move than one later in the year. liz: there's been a pause for seven meetings. not straight. there was a quarter point in july a year ago. in between two pauses and expect

an eighth pause here for tomorrow. but can you tell me how you are anticipating or modeling for how your business whether lending or high yield brokerage accounts and high yield checking accounts and might be affected by a rate cut. >> sure, it's important to put in context our results and thinking about how it's being positioned and we set out this year to diversify our business and make is less dependent on lending and capital intensive businesses and less risky and record revenue this quarter and we moved away from lending and saw 80% growth area other year in revenue and financial services product asks things like sofi invest, which is brokerage and sofi money, which is checking and savings and sofi protect, which is insurance and sofi credit cards and that's see ago very good tail wind up 80% year over year and growth and revenue per product and we're positioned for a environment

that stays tight for interest rate standpoint and that said, we saw really strong trends in some of the underlying lending businesses that would see even bigger benefit in rate cut environment. so our home loans business and student loans business and home loans up over 70% year over year in volume and our student loan business also very strongly. if rates do get reduced, those two businesses benefit from a lower rate environment in addition to still strong trends in the financial services segment. liz: that's exactly what most people would anticipate that the lending business will look a lot better once these rates start to come down do you then look at say for example your student loan business. with the backdrop of lower rates but also with the fact that we have a political candidate following in her previous bosses

>> student loan refinancing and lending was 90% of revenue or more and now down to 57% of revenue in lending and 45% in non-lending. student loan refinancing is a much smaller piece of that and leveraged perm loans as a bye bye bye personal loans as big growth draw in lending business. my view is most of the members we have that refinance their student loans aren't really going to be able to take advantage and normally not eligible for some of the programs and lower rate environment is a tail wind even if there was continued student loan reform and forgiveness. liz: you have gooing to see that

and what's the strength and spine to do that? >> financial services business is now 45% of reeve knew up 880% year over year and two prongs of growth. one is product growth over 40% growth year over year that we think will stay very robust in the 30 plus percent range and revenue per product and people are using more products during more revenue is a driver. things that drive more revenue in product are higher aum and grew 50% year over year in our invest business and more interchange spending up meaningfully and 70% year over year and in addition to that, we continue to see growth in deposits up 80% year over year and seeing the dual prong benefit of more users. liz: anthony, we followed you before you went public, first ipoed and turned profitable and couple quarters in a row and we're impressed.

the stock is up a third of a percent. good to see you. >> you too, liz. thanks very ifing me. liz: an update in what's going on in beirut, lab non, and that's strike -- beirut, lebanon and that's the rocket strike over the weekend and ivory soap, tide detergent and dawn dish soap maker proctor & gamble swirling near the bottom of the dow's drain. why the stock is a washout today. and later, we've got the creator of the famed taylor rule. legendary stanford economics professor john taylor is here and he'll show you his equation that so many experts are living by right now and it basically tells you where interest rates should be right now as the federal reserve announces its decision tomorrow. the claman countdown is coming right back and dow gaining 25 points and nasdaq down 234. ♪

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liz: we have a live picture at the scene in bay root at this moment -- beirut and first responders on the scene, lots of smoke. israel was targeting the hezbollah commander it claims was responsible for the deadly strike on a soccer fie over the weekend that killed 12 children and teenagers and some of the response in defense stocks here in the u.s., particularly lockheed martin. lockheed martin is hitting a record right now, but it is the fifth straight record high for the defense stock and you can see lockheed martin gaining 1.7% to $536.76. lockheed martin makes the jets

including f15 and f35 is israel does on occasion use. in the meantime, fox business alert jetblue taking to the skies and shares moving higher by 10.5% and on pace for best one day gain since november of 2020. this after the airline posted a surprise pop up for the second quarter. jetblue also said it's delaying its purchase of $3 billion worth of air bus planes. the ceo elmor emphasized duringe conference call that the company needs to cut it is spending saying jetblue's revenue growth has not been enough to outpace the cost challenges it is seeing right now. look at novovax down 27% and shares of covid vaccine maker are tanking to 2-month low after jp morgan downgraded the some from underweight to neutral and set an $8 price target and shares are at $11.92. jp morgan says covid vaccine

demand will ultimately be fractional compared to that of the flu. now to a different kind of shot, investors are pouring out shares of spirit's maker at this hour. the stock falling to four-year low after the maker of johnmy walker whiskey, casa migos tequila and others. the business is specifically struggling in mexico and brazil. they're not drinking there as much there apparently. sales falling 21% year over year. the stock falling 5%. and proctor & gamble shares and the dow component dragging down the blue chips and lower by 5.25% after the consumer goods giant posted a stinky earnings diaper filled with a surprise drop in third quarter sales and the brands include pampers diapers, charmin toilet paperer and raisers and they call -- razors and they called out

weakness in the middle east, south america and china. the first couple quarters of fiscal 2025. this is probably part of this drop in the stock, are expected to be "similar to the quarter just reported". in other words not great. high inflation slamming those proctor & gamble customers which begs the question: are fed chair jerome powell and company already too late to cut rates? we've got the author of the famed economic standard called the taylor rule. stanford university economics professor john taylor joining us in a moment and what signal it's flashing in a fox business exclusive and dave never thought flipping houses no matter the interest rate was would lead to a global interest rate power house and how did the college dropout growing up on a farm in indiana launch one of the best known brands in the industry after exiting the air force -- look at the jackets. you can tell this is the 70s.

nice 5-inch wide tie. good for the remakes founder. he -- remax founder and he talks in my everyone talks to liz podcast wherever you get your podcasts. folks, we're coming right back. it's interesting the dow is holding on to the green by triple digits. 137. the nasdaq stands at 17,135 with this loss of 234 points. s&p down 33. the russell in the green by four points. ♪

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liz: breaking news, republican vice presidential candidate jd vance is expected to make remarks at a campaign rally in las vegas, nevada, at any moment. you see a big crowd there with the american flag, the stage. former president donald trump's running mate at liberty high school and will be discussing the economy in the key battleground state. meanwhile, the current vice president and democratic presumptive nominee kamala harris just left joint base andrews in the last hour and she is heading for another battleground state. she'll be hold ago rally in atlanta, georgia, later this evening. last night though, harris got a financial boost from a group calling itself white dudes for harris. political leaders and celebrities including the so-called original dude. the big lebowski scar jeff bridges and lance bass, actor

gordon-levitt and pete buttigieg were among the speakers who just in that call raised $4 million. it was a virtual fundraiser. the star power is helping raise funds for harris campaign, some democratic donors are really disappointed and we're hoping to see more of a competition for the nomination. is that out of the question. in the beginning of july, my next guest led a small group of donors to pledge $2 million for debates organizing debates between harris and other democratic nominees in the event that president biden biden dropped out and he backed out and does not appear that anyone will challenge vice president harris will all those donors fully back harris. we have bill harris joining us and former paypal ceo and former ceo of intuit. what else have you done with your life. you were one that's hoping to see at least a vibrant competition between other democratic potential nominees.

you didn't and haven't. is that out of the question now? >> oh, i think it's out of the question, yeah, mostly typing and your earlier question, am i still going to donate and support? yes, i am. why i got involved a year ago. it was a single thing, age. it seemed to me preposterous we'd have an octogenarian in the presidency. a year ago. i wasn't the first, the voters have known this for more than a year. all of the polls have shown that and regardless of who the candidate is, we've done our own private polling over the past -- since the fall and consistently, all age groups say the ideal age for a president is in their 50s. and in fact, if you're 18-29, you think it should be in their 40s. even if you're in the 50s, you're 25 years younger than biden, trump, or any of the candidates until biden stepped back. sot biggest thing i've been

doing is working hard to get biden and the democratic establishment to realize the obvious, which is 80 years old is too old to be president of the united states. liz: you want to age gate the presidency? >> yes. liz: okay. if you're saying that a year ago you noticed this but it wasn't just you, it was the voters, well then arguably kamala harris notice it had as well. does it bother you at all? apparently not because you're supporting her and she saw this story unfolding and witnessed his degradation in his abilities and mental acuity. that doesn't bother you? >> i think that it's really important for everybody to understand that an 80-year-old, i don't care who you are is not going to be fit for the presidency. i don't know how close kamala

was to that but -- liz: she was closer than the voters sips she's the vice president. >> fair point. liz: little me then just -- have you put on your ceo hat. what is it about her platform so far that you, as a guy that's run many very successful companies that are still in existence today, not like they failed. what is it that you see that tells you she'd be better for business? >> well, i won't talk about her specifically because we don't know, but if you look at her and biden, the statistics even though the voters don't see it this way, the statistics on the economy have been pretty darn strong over the past three years. liz: argue that we have had record unemployment. i mean, unemployment of 4.1% much the most recent print or lower for something like 32 months. that's stunning and very, very good. that may start to change and we get the july jobs number on friday from the labor

department. and expecting at 1.4%. what else do you see? don't you look at different metrics for example regulation. the democrats are often have a heavier hand when it cops to regulatory -- comes to regulatory pushes. >> i don't if it's regulatory but i'll tell you this, one of the downsides of having such a tight labor market is inflation. and&that means rates are up. rates are up, you know, call it from 0% to 5%. and -- liz: which helps savers. >> doesn't, that's the issue. banks have increased the rates that you pay on credit cards. it's now 22.8% afternoon that you pay on a credit card. but savers, particularly people who are in big banks, chase, wells, bank of america, know what they pay on both checking accounts and savings accounts? liz: it's on the screen and i see it in my account every month where you get -- i got

two-pennys in interest. you're launching something that will give people something close to like 5%. tell me about this. >> thanks for asking. at evergreen money, we're invoter visiting on the checking account. the checking account hasn't changed for 50 years, but we're taking the checking account and sweeping the funds into treasuries. treasuries are currently paying about 5.3% plus where do you live? live in new york city? liz: new jersey. >> okay, new jersey, new york, local taxes, local and state can go to 13%. so for you, you're making 5.3% plus you're playing -- you're except from state and local taxes and i think before i leave the studio here, i'm going to sign you up for my new product. liz: explain how it works. a minimum of $10,000 in the account and then you shunt that into treasuries; correct? >> that's right. liz: but does it have to stay in

there? i can use that money. swipe your card for $10 and instantly we're take the money out of out of t bills to pay that and meantime till you need your money, it's sitting there earning 5.3. liz: okay. sofi, the ceo anthony noto was on and his high yield bank account is around there on the higher end of 4%. >> yes. liz: what else do you offer and he's got all kinds of lending options and technology options and brokerage options? >> a long term one and first quarter of next year, we're going to launch an entire suite of tax awareness investments as well, which will ultimately drive people's bottom lines for many products. but right now, yes, there are high yield savings accounts that are 4.5, 4.8, but still not 5.3 and it's not tax deductible.

and if you've got an online savings account, you still have half your money sitting in a checking act. what does that mean? you think you're getting 4.4 in your savings account, but you're for an -- half your money is there you're getting 2.2% on your cash. liz: it is called the evergreen liquid treasury account? >> liquid treasuries. liz: okay, where can people find this if they're interested in >> evergreenmoney.com. liz: evergreenmoney.com. please come back. >> i'd be delighted to. liz: you wear a couple hats and run a dozen companies and have a few more left in you. >> i do. liz: thank you. good luck to you. breaking news from saudi-owned news channel saying that the israeli strike in beirut killed the senior most official in hezbollah. this is the commander that israel holds responsible for the weekend rocket attack in the

golawn heights that killed 12 teenagers and children this weekend. we're about to get a live report from tel aviv this moment and stay with us. the bond market is reacting and see from this video, a pretty serious damage here and if the news is correct, israelis pulled off what they hoped to when it comes to retaliation. stay tuned, we're coming right back. ♪ everywhere but the seat. the seat is leather. alan, we get it. you love your bike. we do, too. that's why we're america's number-one motorcycle insurer. but do you have to wedge it into everything? what? i don't do that. this reminds me of my bike. the wolf was about the size of my new motorcycle. have you seen it, by the way? happy birthday, grandma! really?

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getting more news on the air stake in israel this weekend and one person dead and others wounded and the news saratoga is reporting that the strike against the hezbollah commander was successful. that's who the israelis were aiming at whom they argue is behind the rocket attack this weekend that killed 12 children in the golan heights and there's some conflicting reports and idf was targeting the commander it

says was behind the deadly attack and lebanese prime minister calling the strike a criminal act and agree that defense stocks rising on the news and lockheed martin is rising even higher up nearly 2% to another record high and fifth in a row and northrop drummond up and general dynamics up 1.25% and get the latest from trey yingst joining us live from from tel aviv. reporter: benjamin netanyahu is holding a situational assessment to carry out israel'version of the pentagon here in tel aviv and mee meeting with top militay officials to determine if the strike earlier tonight in beirut, lebanon, was successful and again, the israelis were targeting a top hezbollah commander in response to the strike on saturday conducted by

hezbollah that killed 12 children and teens in the north part of golan heights and this strike was about send ago clear message to hezbollah adding thiathatisrael country want to a bider war and in the hands of hezbollah whether or not one happens and there's been a long decision making process for the israelis to determine how they should respond to this strike on saturday that killed those 12 civilians, but i can tell you there's a real concern on the ground that israel as it relates to possibility of opening a new front understanding that there's been thousands of rockets and drones launched into northern israel and on october 8 and earlier tonight, one israeli civilian killed in the north part of the country and they're bracing to see if indead that top hezbollah commander was killed and if the iran-backed organization will respond. liz. liz: trey yingst, thank you very

much. how they're reacting and a flight to quality and a classic one looking at 10-year yield and the 10-year yield yesterday closed at about 4.176. then it opened around 4.177 and you can see it's down three points to 4.148. the price of treasury works inversely to the yield following the price going up. the conflict in the middle east is dominating the headlines at this hour and federal reserve will be front and center in 22 and a half hours. got that? that's when we get the federal reserve july rate decision. the fed funds futures show a 196% odds of another pause. that would keep the fed funds rate at 5.25 to 5.5% and former federal vice chair allen behinder saying in a wall street journal the -- allen blinder saying the fed needs to cut rates tomorrow and if they hold

rates too high for too long, the economy may weaken or slip into a recession. he echoes an earlier op ed by the former new york federal reserve bank president, bill dudley. the taylor rule comes into play and ideal federal funds rate using inflation and gdp as inputs and what should the fed funds rate be? and is the federal reserve about to make a big mistake tomorrow by not cutting rate s? joining me with the answer cents creator of the taylor rule, legendary stanford economics professor john taylor. professor, welcome to the show. we've got former federal reserve heads bill dudley and allen blinder saying let's get this rate cut on the road. what does your taylor rule imply about where the fed's benchmark rate should be right now? >> it can come down a bit but not much and you have to be care and feel you do too much and cause replay of the situation

we're n. so i think it's good to have this discussion and it's good we're having this discussion but i wouldn't go too far. liz: okay. wouldn't go too far. let's talk about the formula and the inputs and if we put it up, people can see and i was never great in math but i understand r equals nominal fed funds rate, p equals rate of inflation, y equals percent defending championuation between the -- gdp and spits out what number? >> spits out about 5% and that's where it should be i think. maybe come down a little bit, but don't forget this is 2% innation target and we have a 2% interest rate above that and gets you to 4 already and close to 5. i think it's really -- is in question of going to be debate and going to be a debate about it, but i'd be cautious about

going too fast. we've gone too fast before and it's caused trouble. liz: a quarter percent by the taylor rule and get into the time line of it. do you think it has to be tomorrow like what allen blinder and bill dudley are saying? both i feel like know something we don't and they're saying come on, let's get this on the road. >> well, there's lots of debates and debates on the other side for sure. there's the question, go too far and you're stuck like it was before. sot thing is don't go too far, take it easy, and we'll be fine. i think it should be fine and the problem is you're going too far and get in trouble. liz: okay, but tomorrow, professor? should it be tomorrow? >> i don't think s. i don't think so. there's a debate going on and a lot of discussion on both sides quite frankly and so we'll see what happens. liz: now, let's pretend i'm your

student at stanford. all though i was at the rival berkeley, okay. so we don't like you cardinals, but for these purposes let's do it. i'm a student and asking you, has the fed done a good job and are we on track for a soft landing or a recession? >> we're on track for a soft landing but has to be done gradually and the target is 2% and jay powell mention that had and we're above 2%. down 2% and slowly predictable way and that's the way to do it. we don't want to have surprises and we don't want to have surprises and don't forget this stuff isn't the only central bank in the world and they're going in different directions and some going the same direction and they're now picking up a little bit and we have to be careful about the whole ramification. >> ecb cut 25 basis points but signaled not in is the sort of a pre-commitment to an oranged commitment to continue cutting

rates and they'll be data dependent and worried about the unemployment picture and at 4.1% ask we got the jolts number and sort of rear-view mirror looking from june and not july. but the jolts number shows we have more than 8 million job openings right now. are you comfortable with that number? >> i'm comfortable. my main concern is the inflation rate. and the unemployment rate, which you mention second-degree a important factor, but the main thing is inflation rate and we get that done to 2%, it's 3, 4% depending how you pressure and that would be a goal of fed and central banks and we need a global situation where you have 2% inflation target across the board. liz: professor, thank you, and can i do a take home final instead of in class final because i've been so busy lately? >> of course, any time we'll

have a special one just for you, liz. liz: i was the queen of asking for a take home final in e con 101. professor, thank you very much. john taylor of the taylor rule and make sure because in this hour tomorrow, jay powell and the federal reserve will have made their decision about july. the expectation is no move but then perhaps a cut in september, but it is in this hour that he answers the questions of the journalists. he faces the dragons in the room and that's where all the news is made and the markets really start to move. don't miss the final hour of trade with the claman countdown. we have jeremy siegle of war ton, gabriella santos of morgan and a member of edward jones. don't miss that . a headline for political website the hill asks if the gop is second guessing donald trump's choice of running mate, jd vance. this as vance is about to take the stage at a rally and charlie gasparino asking around and he's

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liz: donald trump's running mate jd vance is minutes away, i'm keeping my eye on the stage here. he is set to give his first

rally in las vegas as the ohio another faces blow back over some controversial comments he made in the past but is the trump campaign preparing to go to bat for their vp pick and use vance's support of traditional families against kamala harris, or maybe cutting him loose some of the rumors say. what are you hearing? >> i never have herd so many rumors based on really not talking to the people inside of the trump orbit. jd vance is not going anywhere. is it a theoretical possibility they find something in his record they didn't know in the past, you got to go? remember, mcgovern did that to thomas eagleton. that shows you how hold i am. liz: 1972. >> isn't that i amazing i remember that. liz: a few weeks after he announced him. >> thomas eagleton was mystery senator, veteran liberal. mcgovern was running against nixon. they found out he had mental

health issues. this is embarrassing. this is 1972. it wouldn't be a big deal. liz: they pulled the plug. >> they cut him loose. they brought in sergeant shriver. i don't havals alzheimer's yet. they lost historical race to president nixon. they have to find something like that in jd vance's background. something i don't think they will find. i've been speaking with people close to him. listen, you have to go through the fire, you know -- liz: close to jd vance or close to donald trump. donald trump is the one making any decisions. >> both, both. liz: okay. >> from what i understand it is not happening. >> he is going to stick with jd vance? >> unless you find something really bizarre, i'm only hedging myself because who knows. i covered the financial crisis. i never thought bear stearns would go out of business.

lehman went out of business. they almost all went out of business. so just so you know unless there is something really, really damaging here. they are committed to this guy. this they think is overblown. this is emerging consensus inside trump world. this is more diligent, agile, disciplined campaign than both 2016 and 2020. there are some real pros there. they say this. they knew they would have to face some fire. jd vance was youngish senator, right. kind of new to politics. they knew there would be, you know, some blowback on some of the stuff he says. he was on our air, on different tv programs, saying stuff that is provocative. liz: against donald trump. >> and against donald trump as well. they knew, they knew this and they knew kamala harris, if she got anointed as joe biden's replacement would have a honeymoon which she is having right now. they also know it will not last forever. for every reaction there is a

downter reaction. at some point people will get tired of the hate ography of kamala harris. the story will move off of jd, more on issues, kamala harris's record which isn't exactly the greatest in the world, some of the things she has said. we're going to hit that at some point this is just a matter of getting to that point, and we're -- liz: already coming out. >> it is already coming out. you can see it in some of the people she is bringing in the white house. liz: also comments about the i.c.e., you know, the i.c.e. officers. >> get rid of i.c.e. officers. just the whole thing. there is a lot, you know, i will say this -- liz: you're in politics. you open your mouth for years, something will come out that comes back. >> if they held us to that standard all the stupid things i have said over the years? oh, god. i will say this this is kind of interesting talking to trump people around the campaign, i said okay, tell me who would be your preferred candidate if it wasn't joe biden?

joe biden obviously was the preferred candidate given everything that went down. they said it is still kamala harris. we fear josh shapiro at top of the ticket. we fear gretchen whitmer, we fear mark kelly at the top of the ticket. she is a target-rich environment they believe. keep this in mind as you look at the polls. the polls are very eve ven steven. i do not sense wicked freakout. i see wicked freakout on social media, i don't see where it is coming from. maybe they're blowing smoke at me. tell you who my sources are, what they are saying. liz: thank you, charlie, very much. we're minutes away from microsoft's quarterly report. this particular earnings release, why it is important, will be the first one investors really will begin to scrutinize with a much more critical eye, not just the sustained revenue growth and it is powerhouse azure cloud platform. it is expected to haul in

$28.7 billion in sales but whether ceo, satya nadella, and sam altman will equalize the out of balance relationship between the massive spend on a.i. buildout versus the returns they're seeing from the a.i. spend. we're also expecting earnings from starbucks and amd. right now microsoft is down 2/3s of a percent. amd down a third of a percent. our "countdown closer" says you know what? it is not bad. you should actually be in both tech and the food sector like starbucks and microsoft maybe, but not those two names. jack ablin has 53 billion in assets under management. jack, which names do you like if not those? >> sure. actually microsoft is not a bad play. you know, it is part of the mag-7 has done so great in the first half and is trailing the

second half but we like other names too. we really like quality, quality companies. we like ibm. certainly, probably one of the innovators in a.i. in the tech space. we also like mccormick spice company. has a 2.2 dividend yield. we expect that to grow at 6% per year over the next three years. then chubb, the property casualty insurer, 1.3% dividend yield. expect to grow its dividend 10% per year for the next three years. liz: chubb is a favorite right now of warren buffett. he started to amass a big chunk of that insurer, right? >> he is listening to your broadcast. liz: he is listening to you, jack. you have liked this for a while. let as talk about the atmosphere ahead of the federal reserve meeting. stocks be damned at the moment because yesterday we had such choppy action. i think the dow crossed the unchanged line more than 165 times. today the dow is up, been down.

it is certainly having a nice day, gaining triple digits, 242 points, pretty much at the session highs. nasdaq is in trouble. what do you think happens tomorrow and how will the markets absorb it? >> i mean a lot depends on microsoft certainly. you're absolutely right. really investors are looking for two things. how they are competing on cloud, versus, versus amazon and whether or not they're going to start to receive some payback from all this outlay on a.i. i think, alphabet had problems last week on that score. we'll have to see if chatgpt will start to pay dividends for this huge investment that they're making. >> yeah. that's the question, isn't it? and when you look at nvidia, which is about four 1/2 dollars away from dropping below $100 a share, i think earlier it was taking about a 6% hit, might be

off the session low. it tells you something, about the russell rotation. the russell 2000 is back in the green. at least it was in the last second. yes it is. it is moving higher just about nine points. do you see that trend continuing? >> i do and actually that would be a real healthy sign, liz. the fact is if you look at the winners and losers of the first half of the year, what we're seeing is, in the second half, at least so far, the losers are winners and losers are winners. all in all that's a good thing. because we would like to see the market broaden. now i will say, i'm probably just as old as charlie and i do remember in 2000, 2001 when we had the -- [closing bell rings] we had the internet boom where the s&p cap petition actually started to fall. liz: i remember that too. >> it fell -- liz: we have to run. there is the bell. see you tomorrow. big fe