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tv   The Claman Countdown  FOX Business  August 12, 2024 3:00pm-4:00pm EDT

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right. it is true many americans, whereby consumers like goldfish the more you feed the never stop eating and somebody folks that means living paycheck to paycheck and personal banker c. but most of us we do stop once we hit the wall and it looks like that's what's happening with the aspirational buyers, aspirational youth and is him for buying something you truly cannot afford but you buy anyway, visit the website for accommodation, airline, cruise lines, they have absolutely cratered so as the cost of transatlantic fairs. here's the thing. living within your means is the first step to being able to take the meaningful path so you can live extraordinarily later on down the road. taken from me, it is worth the wait, so is liz claman she is the last hour of trading.
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>> my dad used to say live within your means until i met dave ramsey who said live beneath your means and did you really take off because your saving money. good advice. as we kick off the final hour of trade we begin with the breaking story fox news now reporting that according to sources in the middle east iran could launch a large-scale attack on israel within hours. you're looking at a life picture of northern israel right now where it is 10:00 p.m. in just a few minutes we're going to take you like to the pentagon where the u.s. has joined western powers and warning iran to refrain from attacks. as you look at that and you wait and wonder, no surprise we seen choppy trading on this monday. ask the russell 2000 which is down the most, under 1% off the lows of the session by the way the wild swings investors enjoyed last week seem to be maybe on pause for the moment, right now the dow was over by 167 points but were showing you on the screen charts of the major emphases going back one
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week to show you the recovery markets have made sense the monday madness which during the s&p dove 3% in the biggest selloff in two years you can see with the s&p it is flat and bumping up and down above and below the flat line at the moment. the broader index is pretty much clawed back what it lost. the nasdaq bounce back most impressive, the tech heavy index collapsed 3.4% to 16200 last monday and it's up another 48 points plus what happened between monday and today with the nasdaq standing at 16792. a big move up off the floor, for those of you who went on vacation i week ago friday you barely noticed anything but don't unbuckle your seatbelts just yet starting tomorrow several hugely important economic reports will splash onto the scene and all across wall street tuesday july producer price index, that the government's read on inflation of the manufacturing level comes
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out followed wednesday by the big one, no doubt about it, july cpi consumer price index, what are the most important reads on consumer inflation in thursday july retail sales, what is the health of the consumer are they still buying, larger gain or a bigger than expected ms. in any of these and if you missed monday/dip that comes to pass you might have another chance to do some skinny-dipping for discounted stocks. will the chance, and how should you prepare for it must get to the floor show jody meet david dietze of private wealth, and trader kenny polcari. all clear ahead, not really give the big economic david into data points coming out. what you look at and say let me forget a week ago today. p. >> not forgetting a week ago today at least until we get to october as you know were in the
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seasonally weak time of year. what happened on monday was very dramatic, there were a lot of technical broken on the way down in the market has to repair itself the only way it's going to do that is by trading up and down and testing the low once again i'm not nervous or upset or anxious i'm just expecting the market to test lower as we go over the next couple weeks into september and october. tomorrow will get the cpi in the ppi there will be another data point is going to give us some clue or clarity on what we can expect from the fed in september. hardly anything happens before that. liz: let's say the building crumbled a week ago monday let's say that. the foundation got fixed so quickly that those who were waiting for it to be repaired they missed out on moving into a much better house. look at this, the flash dip of monday is gone the opportunity seem to be so quick another opportunity seasonally our week
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for the market. >> and short-term anything can happen. as you point out we had huge data points coming out this week in addition to ppi in the granddaddy cpi in earnings from home depot and walmart what better read on the help of the u.s. consumer which makes up 70% of the economy. i'm optimistic. we did look at what caused the flash drop on monday it was a crash of the japanese market. i always use the friday night dinner test, tell your significant other were not going out for dinner on friday night because of what happened then is something severe come up japanese flash grab in the next day the bank of japan said we will not be raising again of market turmoil, the central bank around the world and that bodes well for whatever fed is going to be doing going forward. liz: were talking about the young carry trade in people's eyes start to blaze over.
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basically because japan has low interest rates compared to the five and a quarter inch 5%. this is a very sexy trade for some people. also a dangerous and risky trade, it would borrow the cheap money and a higher return and when you see things move up in japan people sold out of the trade, i get it. and what is the hot trade that people would love to get on on and they don't realize what it is at the moment. >> i think there is a couple of things going on to what we just discussed before, i think the path is lower over the next couple months. i'm being patient, there are huge opportunities, when you see tech names you might see tech, tech and your nervous about it. when you get good names, apple, amazon, microsoft, nvidia decca oversold for no other reason than what's in the market, that's opportunity. the other day and video was down wednesday up 30% or 30% from the
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most recent high, screaming opportunity for the long-term investors. it's not necessarily today or tomorrow yet to look at what each day presents you. in the long term i would add money if you're adding money otherwise keep it in the treasury i would add it to defensive things. they're boring but good db payers and they will defend your portfolio and i'm nervous ma market. liz: you look at the moment on monday where you can about nvidia down expert set, then it came about before tuesday, wednesday you got your chance again and now it's back up, $109 at the top of the nasdaq 100 with a gain of 4.6%, as mci is a name sell enough of the members on monday, arm down 11% on monday. you miss those opportunities. that said intel is a name that has been hit with the ugly stick. very, very hard people don't believe in it.
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it's trading below book value. wouldn't that be a chance to get in on a high-quality name going through a bad time? >> you have a company worth more sold off then as a stock as you point out below book value but it already has $9 billion from the government as part of the chips act, the united states government is so by this company, we have the most assets for chip trade here. i do take solace from the fact that pat gelsinger putting close to a million dollars of his own money in the stock below 20 where we are now, he does not do that for his health. i think there's also an opportunity to break up the company and you could have your computing group in your foundry group and some of the parts worth more than the hall. liz: annual high of $51 we write 19 and boeing would also fit into that. we have to run but it's great to have both of you, david and kenny, thank you so much for your trader vision. starbucks is getting all frumpy
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at this hour stating taught at the nasdaq. the activist investor giving it can jolt to the stock. we're going to fill you in on that and show you the price action, tomorrow's 3:00 p.m. lineup is one you do not want to miss. internet stock guru mark mahaney aveva core isi is going to teach us how to calculate our oai return on a.i. investments. in a huge weakened retail earnings, home depot before the bell, walmart thursday, sw retail advisor stacey widlitz knows all about these names, she's getting give us her topics in the area. we're coming right back, the dow down 180-point, we will see you in just a minute. ...to free birds. vanguard personal advisor can help you prepare for every chapter. we got this. that's the value of ownership.
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liz: a fox business alert, jetblue, the crushing debt 21% and the jetliner announced it's kicked off a $2.7 billion bond and loan sale and it is collateral the jetliner is seeking to raise capital for reserves and fund general expenses following the announcement the big three s&p, moody's and fitch all over their ratings on jetblue bonds due to near-term headwinds. , up 2%, it is the top gainer on the nasdaq as activist dartboard value has reportedly taken a stake in the coffee change i.e. the wall street journal reports the size of the stake was not disclosed but hopes the news will boost the stock pricing here we go up $76.71.
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this comes after another activist elliott investment management took a sizable position in starbucks and according to reports in the discussions will added director among other governance tweaks. the seattle-based coffee giant has not done well if you're looking at this docket is falling nearly 20% this year right on the money, 20% as demand in the u.s. and china has softened moving the company to cut the guidance twice this year. we should look, this is interesting, jumping 8.6% off the session highs. big news here, top of the s&p, bank of nova scotia has announced it will invest the $2.8 billion for a 15% stake in the regional bank. the canadian firm says it wants to position itself for a new commercial opportunity and strengthen its exposure in the u.s. scotia bank will pay $17.17 a share for its taking keycorp the stock is at 1589 and expected to
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close by the first quarter of 2025. b riley financial is still having a lot of difficulty it is tumbling 53% the financial services company says it expects a net loss of 435 - $475 million for the second quarter be brightly shares plummeted on a probe by the security and exchange commission into whether properly disclose the financial health and asset risks with investors, b riley says it expects a non-cash marked out of 330 - $370 million on the investment and franchise groups. in the vintage capital loan which led the b riley company to suspend its dividend. when you suspend the dividend that is a problem as part of intel's problem, they suspended their dividend. israelis are on high alert, they are not the only ones possible retaliatory strikes by iran and the militant groups against israel at the entire region on
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edge and quietly picking sides. were going to get to a live report from the pentagon in just a second and the 2024 presidential race also looming what are the candidates plans and positions on handling the war in israel. we will get the perspective from both sides from the expert pa panel. we are very sad to report the silicon valley pioneer and former youtube ceo susan with cheeky as passed away, she led you to for a decade at google and one of the only women to hold the ceo role at a big tech firm, she is considered the fairy godmother of google because way back in 1998 when she was working in marketing a and tell she lent out her garage to to stanford phd students larry page and see your gay newfound search engine with a funny name and needed a place to launch the company. susan said yes and the rest is history. she eventually got hired by the two students she was employee
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number 16 at google. susan wojcicki's husband wrote on facebook friday night by beloved wife of 26 years and mother to our five children left us today after two years of living with non-small cell lung cancer.u. susa..n wojcicki was 56 years o. (bell ringing) we are coming right back. s) i thought you were right behind me. only pay for what you need. ♪ liberty, liberty, liberty, ♪ ♪ liberty. ♪
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set a high alert level for the military for the first time this month after observing preparation by iran and hezbollah to potentially carry out attacks that they took this step, regional sources are telling fox that iran and its proxies could attack in the next 24 hours in retaliation for the killing of senior hamas leader ismail haniyeh late last month as western powers issued a joint warning to iran to refrain from attacks that would further escalate regional tensions. here is crude and the aftermarket, west texas intermediate of 3.8% i closed the regular session settling above $80 a barrel slightly below that is 79, 78, the gain was 4%, brent crude in the aftermarket up 3%, or about gasoline up to present, the
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pentagon at this hour is sending a guided missile submarine to the region in speeding up the arrival of the second aircraft carrier, fox news correspondent lukas thomason at the pentagon you just heard what the pentagon officials had to say, phyllis and. the pentagon officials say iran in the proxies could launch a major attack anytime, the concert at the pentagon could come from three different from the hezbollah to the north which lebanon borders israel and not give a lot of time to react. of course u.s. satellites and watching iran putting missiles and drones into place but that is what officials are saying, officials also fear that the houthis in yemen could get in on this attack and launch the third from the northeast and south that's where things stand.
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as you mentioned that's why lloyd austin has ordered the uss abraham lincoln strike group to increase turns from the pacific as you can see ten days ago austin order the strike group from the pacific to the middle east but this photo is from friday and this is lincoln doing an exercise with the eye italian playmates and also defense secretary austin after speaking to israeli counterpart ordering the uss georgia a guided missile submarine force recon greens on deck, daca missile submarine this is ballistic missile submarine ohio class had been converted to fire over 150 tomahawk cruise missiles, georgia is getting put into position and could expect a suez canal transit and for her to go into the red sea in the last few days she's been lurking in the eastern mediterranean and with the tomahawk cruise missiles a 1500-mile range even for the eastern mediterranean, georgia can strike targets in iran. here at the pentagon major
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general and the spokesperson said the reinforcements are meant to send a message to iran but he didn't say with the u.s. attack iran if iran and its proxies launched the major attack on israel? liz: lucas tomlinson, thank you and once again the breaking news as well as what lucas just told us, israel has set a high level alert for its military, the first of the month and we do have a camera on northern israel at the moment this is a live picture about 10:25 p.m. in the region we will keep our eye on it. back in the u.s. democratic presidential nominee, let here is that a campaign event in phoenix on saturday condemned the loss of civilian lives killed by an israeli airstrike in gaza saying far too many have been killed, separately try campaign john mclaughlin told the new york post the former
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president has a shot to receive the largest share of the jewish vote ever in november as growing anti-semitism of the u.s. fuels jewish voters to back a candidate that is shown unwavering support for israel. joy to be no fox news contributor tommy bruce and the author of fear itself and fox news richard fowler. , here is has called for a cease-fire in the middle east. of course donald trump is also said get this over quick to israel and a general statement but, the here is has not exactly given a full throated statement of support that she will as a united states president arm israel for whatever it needs. where does the campaign stand would it comes to israel? >> that's a great question. i think the vice president in this moment is trying to walk a clear bright line she is a vice president of administration that is actively trying to negotiate a cease-fire agreement between israel and hamas in working with various middle eastern partners including the egyptians and
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qatar and there sitting at the table as we speak. she's trying to talk about where the campaign goes forward in what's happening in the real status quo and what you get to see the campaign to over the next couple of days is talk about what i would do if i was elected in the cease-fire condemning the innocent civilians with the israeli side or the gaza and at the same time also showing that they're not going to leave the ally israel alone or by itself which is why we saw today the u.s. defense department to send more carriers to the region and beyond that in the most telling thing announcing the u.s. nuclear submarine in the region that is something we never do because we don't want china or russia to know ours submarines. it speaks to where it is on this issue. >> actions speak louder than the words but there is a mixed message sometimes so let's get to donald trump's position, this
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has quickly got to end. he didn't specifically use the cease-fire, what is the specific position. >> we have to judge everyone but they were ready done what they haven't done in the fecklessness of reticence in hesitation and issuing support were embracing the ideas of hamas without a release of hostages, the wobbly position that the world doesn't like that, the middle east certainly prefer power and the ability to engage in that, that's what trump's background shows the americans. we nobody wants things stop like isis, that'll take 30 years to get rid of vices. it took him 18 months. when he says something i cease-fire it means there has to be a victory it is not a retreat or whether it's dealing with qasem soleimani or al-baghdadi, you target the individuals but you also did not see an iranian reaction other than they were very upset.
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they knew that trump was serious about what he met and what he was going to do. clearly around the world whether it's china and taiwan in the nature of the conflict and the nature of the middle east or even russia and ukraine after the afghanistan airport debacle they knew there was no real leadership in what israel has been doing with getting rid of individual iranian proxy a death squad leader, the bombing in tehran also shows you the israel knows there isn't necessarily leadership in the united states and they have a moral duty to defend themselves and get rid of the cancer in the middle east which is iran. liz: which is what the united states would do, we had when it comes to the border people on the terror list, the terrorist list scroll across the border some have been caught but richard that becomes an issue there is a wall street journal article that actually shows that, the here is as vice
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president and people have said she completely ruined the border and she was supposed to be in charge of it but recently the biden administration worked with the mexican government in the wall street journal put out a report saying the u.s. and mexico have driven border crossings down in an election year specifically the effort as work beyond anything they have predicted at least so far 57000 illegal crossings in july compare that to twitter 50000 back in december when they reached an all-time high that's the lowest figure since 2020. what is she going to do is she going to continue the deal and working with the mexican government to push migrants before they got close to the u.s. border away and it seems to be working albeit late but it's working. >> if you talk to the folks of the biden administration or calling them on the vice president's team they want to do this and they want to do more there's a reason than the new
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york times and senator langford of oklahoma he was part of the team to put together the border bill that kamala harris said if she is elected she will sign this bill on day one in the senate and the house can vote for it. it would buy more planes so we can deport more individuals it would be for the border security and hire more border agents and make sure our border is secure, this is something a lot of democrats are saying two years ago but never senate democrats that they will vote for this bill and i think it's time the republicans to get on board because they understand the importance of fixing the border it is not just going to be rhetoric it's about legislation. >> i have to say the reason democrats are suddenly interested in voting for this because of looking at the numbers that they're worried about they're down ballot by namic that exchanger kamala harris and biden it was way to be a disaster for democrats because we seen this, this shows with americans that they can stop it. we saw donald trump stop it
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these are policies abided reversed on day one and 21 and now it's about bringing them back after such a catastrophe of what's happened in this country with fentanyl, sex trafficking, human trafficking and general the crime in the terrorist movie to cross both borders, the southern and the northern border has been a catastrophe for us. liz: let me quickly move to the economy and stocks that's what reviewers love to hear. david einhorn of greenlight capital said it doesn't matter who wins in november when it comes to the stock market but because both campaigns have similar policies but kamala harris said she would like to impose a 25% minimum tax on unrealized capital gains on income and assets over $100 million. >> just like they were going to tax anybody making over $400,000, just last year or even earlier this year was the bill that allows us to have taxes on
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tips now she says she's opposed to that but she was about to push that over allowing 80000 more irs agents. the problem is when we talk about policy there's nothing on the website we don't know where she stands. when is the policy coming, we need to see it and know it do we have a time coming before the convention. >> that's a great question when we heard the vice president's office in the campaign she will issue an economic policy this weekend and she's teased some of them will focus on housing and that matters for the folks watching your show we see where the economy is sinking when it comes to inflation is the cost of rent and interest rate on mortgages and those things of the vice president is very keen on fixing and even before came the harris campaign is biden campaign and are talking about increasing the first-time homebuyer tax we can get more folks buying homes, get construction up and things that we all know that will impact the
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market and impact the emerging people. a couple of things that she said about taxes or the price of inflation, kind of smelled a bit like price control when it's about corporation charging too much and landlord's price gouging. that is the signal the red flag about price control when you can change the process by getting rid of the regulation and the rules that of increase in prices in general you don't do the damage and say will save you from ourselves with price control. it never worked. >> if it's price gouging is price gouging there's far too much happening in our economy because there's not enough housing stock. >> regulations and rules and laws coming from democrats has caused this. it's not coming from lepre leprechauns. >> housing regulation is housing regulation. if your price gouging on rent your price gouging on rent. liz: we will have you both back
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because regulation and both sides of the aisle tackle that and both candidates is another important thing especially when it comes to investing and the economy, great to have you both, tammy, richard a lively conversation. when you thought the success of hollywood barbara nyberg can never be replicated. another potential two-headed movie monster is forming and could burst out on this theme this thanksgiving, which movies kamala harris a hint as they stay in boston gladiator to could be wicked good. joining us next on that we are coming right back, don't go away.
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starring ryan reynolds and hugh jackman has grossed over a billion dollars 1.02-billion worldwide to be exact, 78 million was raked in by imax theaters, deadpool would be the second r-rated film to cross the billion-dollar threshold after joker. disney is banking on the found success to the marvel releases the company is calling on former stars to come back into battle including iron man himself, robert downey junior who will make a franchise come back. this time as a classic villain between the box office bows of deadpool and the announcement of our dj, robert downey junior as a new villain is the disney slump over with movies and how will the benefit large screen format imax joining us first on fox business imax ceo rich bell fund. let's start with deadpool and wolverine is at 70-mil up-to-date or is it more than that. >> that was through yesterday i'm sure some people went this
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afternoon but we have added them and yet. liz: a nice move for deadpool is that not. >> i pick that in my own pool as being the big movie of the year i don't know if you saw it but it's hysterical and funny but i think paraphrasing somebody reports of marvel's death were greatly exaggerated. there was one movie that did not work in the marvels. >> before that didn't work, three years of a pandemic and then the writers strike and people said nobody's ever going again. i've never seen a business like the movie business where every weekend is a new trend that they're announcing. i have my trying to announce and it's every freaking movie is working, ron, is working, animated films are working, pixar films are working, marvel films are working. there is no pandemic anymore were back to a much more normal cadence and just like everybody
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suffered during all the bad times. i think good movies, good stories people will come. liz: one movie that did very well twister 310 million of the global box office as of sunday made 16.1 million to date for imax. i think it only ran for a week at imax. do you wish that you had it back in there? >> i always wished a good movie played longer, what replaced it. >> deadpool. it had to. but there's no question as a rising star and drawling and a lot of box office. it was a remake and it was remade into different years so it wasn't the cow flying at the windshield which is a great special effect in those days. it was a fun summer kind of movie and it's been that kind of summer, people want to go out. i don't think it's just the
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movie business or sporting events but people want to go to them, guess what the people who said during the pandemic everybody's going to sit on the couch and stream the rest of their lives were with wrong, people love to do things they've done before, they love communal things and there's nothing more communal than going to movie not just with friends but the people next to you who were cracking up, concerts, the world is basically rebounding and when you look at the slate for 25 and 26. i think you get to see the challenge of the best years in the history of movies. liz: that's a big prediction. >> before the upcoming releases betelgeuse, betelgeuse is coming out that has buzz about it but joker, that is huge that's around thanksgiving and wicked that must be the next barb and heimer, do you think there will be a gendered excitement when you have the two movies around
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thanksgiving. >> we sell betelgeuse, my team did last week and thought it was terrific, it was really excited about it and said it was really funny and someone at warner said to me, people your age like betelgeuse, the kids are going to go crazy, gladiator, ridley scott, great buzz around that, wicked as universal has wicked too, already in the can they must really believe in the movie and it will be released with imax film prints and top phillips fantastic as lady gaga isn't it and want to is coming out. again there is a lot of movies coming out. liz: 15 minutes before the closing bell this is a tough day for warner bros. discovery brand-new all-time low it's been falling all day. warner bros. is a distributor behind the joker movie upcoming movie is there any movie that
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can save warner bros. barbie could not. >> i don't think there's any movie that could make or break a studio, you look at disney having two back-to-back billion-dollar movies inside out and deadpool, their stock is been relatively unchanged during that period. i don't think you can make it that narrow, the answer is not no there is not one movie that could save or kill a studio. liz: really quick paramount obviously sky dances right there waiting for the go shop. to end where other competitors can come in to make a bid. it looks like nobody has. david ellison is a filmmaker the man in charge of sky dance wanted that b great for paramount studios to have a filmmaker in charge of the company, how do you view that. >> i know david very well i worked with them for over a decade, he really gets the business as you know there was a lot of outsiders that come in
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and going to reinvent the business. david is going to invest in talent, stories and i think it's a great thing for paramount. liz: do you think anybody swoops in before august 21. >> i don't think so it's been for sale for three years and if they haven't gotten there yet why are they going to get there in the next week. liz: good to see you, thank you very much. imax ceo rich gulf on rop domine posting on x for the first time in a year and is hours away from doing an interview on x with owner elon musk. what does that mean for djt the stock of tromso social media site truths social is not good right now, charlie gasparino has a report coming up dow jones industrial increasing divorces, now losing 213 points. ♪
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♪. liz: tesla ceo, elon musk is set to interview donald trump tonight at 8:00 p.m. eastern on the platform x. a direct rival of the gop presidential candidate's own social media site truth soes and it is publicly-traded parent company trump media and technology, ticker symbol djt. djt posted quarterly results late friday. during the quarter the company saw revenues dive 30%
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year-over-year to $836,000. operating losses skyrocketed from $3.8 million to 18.7 million. the stock which hit an annual high of $79 earlier this year is down trading down 6% at the moment to $24 and change. this is not helping tonight either. ahead of the interview trump shared his first x post. that is self-inflicted wound against the stock, charlie. but he must have a reason. >> cannibalizing itself. let's be real clear here djt, the take it away from donald trump, led by devin nunez tried to tap into the whole stock meme conspiracy theory. that is little bit of opinion but it is kind of true earlier in the summer. i will revive, i will go back to june 6, 2024. trump media wants probe into stock manipulation, blames naked short-sellers for losses.
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huh? this is devin nunez, the former congressman. liz: we showed the stock. >> who is now the ceo of trump media. he is trying to blame naked short-sellers for all those losses? what planet is he on? this guy is running a publicly-traded company but then again he wouldn't be the only one. if you go on social media there's a whole conspiracy theory that amc's problems which are manifold, both on the balance sheet with too much debt, the fact that movies are not selling like they used to, the fact they overexpanded, people blame naked short-selling that is trades at essentially 50 accept stock. that is five dollars must after 10 for one stock -- liz: revenue under a million dollars is not a great thing. that said, let's talk about elon musk. >> my point is, you know, we said this here because this is a customer, i guess adhere for
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you, the small investors. if you want to give money to donald trump because you want him elected, do it. don't do it through investing. don't make investing a cause. a lot of these folks buy amc because they want to stick it to the man. meanwhile they're just sticking it to themselves and if you bought djt you stuck it to yourself thinking you will stick it to the man. this is different than donald trump the campaign. this is a media company by the way is like twitter. we'll talk about elon musk in a minute but it has even less traffic and twitter has a hard time making money. liz: let's get tonight, interview with elon musk on g. >> right. liz: and this is, he also put out sort of an ad on "x" as well to promote. what do we read into that? >> well, his campaign is floundering right now. this is no doubt they're looking for their footing. he spent the last couple of days attacking you know the governor of georgia, joe rogan, crowd
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sizes, he meaning donald trump. where he has this candidate in kamala harris who is pretty incompetent has a horrible record, laughs weirdly, doesn't give interviews and all he is doing is talking about nonsense so this might be the campaign. by the way his campaign people know this. i have spoken with them. people close to them. they know that it's the candidate. they know what to do. he just won't discipline himself to do it. this could be the start of that discipline, a reset, do it with elon, do it on twitter. do it in a big way. i'm going to listen to it. and, it could work but it has to be a reset with him focusing on the issues. we'll see if he goes there with elon. much elon is a supporter we should point out. he was going to raise money for him. he has opened twitter up to pro-trump voices in the past. in 2020 the election canceled,
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canceled trump voices. so, you know, this election isn't over but it is clearly slipping away from donald. tonight might be the reset. liz: charlie, we'll watch and see, thank you very much. closing bell, we are three minutes away. s&p crossed the unchanged level 67 times so far. in today's somewhat directionless session, investors await a important inflation data this week, including the producer price index tomorrow. we'll tell but the consumer price index wednesday. nasdaq nowhere close to the session high when it was up 150 points. right now the nas is up 6 points. everything is to the recent. one trillion ofs sets under management john mckay. monday is a strange day as it was last monday where we saw the dow lose more than a thousand points the everything today is down two and 3%. today is a today where we're getting a weird message from the markets. what do you tell investors after
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seven days of trade? >> today feel as a little bit of a hangover from last week. liz: a long hangover. >> long hangover, not necessarily for the right reasons of the we think the volatility last week was primarily driven by crowded trades, levered trades on the japanese yen, borrowing yen, investing elsewhere, momentum trades and things like that. so it was an unwinding of positions that got stretched. >> let's say i'm not scared. i have a little pile of cash i want to buy things. you say there are three things to look for. >> yeah. liz: what are they. >> i would say bore something beautiful. what we've seen the last month 1/2, not just last week, basically since the rotation trade began, all this money was piling into megacap tech stokes, artificial intelligence, where we think there are good companies there, too much, too far too fast. if you have diversified portfolio, long duration bonds, high quality, value stocks, industrials, energy, banks thing like that, you do better than
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the really crowded trades. i think that is where the opportunity is. it is uncrowded. low expectations. a lot of good companies with good fundamentals trading at cheap prices. >> in sectors really quickly, looking for boring, cheap, underowned, what sectors? >> crazy, two crazy stats for you. since the end of 2021, energy is outperformed info tech. info tech gets all the headline but energy has done well. it is an essential thing we all need to run our businesses to get to work. go on vacation. consumer staples, boring, right? really good companies there that just have been left behind because they're not exciting. not fun to talk about a consumer staples company at a cocktail party. i also think materials as well. [closing bell rings] liz: boring and cheap. >> that's the head line. liz: mixed picture today. see you tomorrow. ♪. larry: hello, folks, welcome to
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"kudlow," i'm larr

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