jerome powell is trying to stimulate the economy. we've got the stimulus. talking about taxes tomorrow -- [inaudible] if we pull back on that, we're going to be better. charles: all right. it's all about jerome powell and no taxes. i like that. liz peek, we're getting a little momentum into this last hour -- i'm sorry, liz claman. golly. [laughter] liz: that's all right. charles: how long were you on vacation? [laughter] liz: one measly week. but for television time, that's like dog years, right? 50 weeks. [laughter] thanks very much. it's been a bumpy day for stocks. we do have some -- charles -- [laughter] wasn't that funny. the dow, the s&p, the nasdaq, we are all in the red right now. but the nasdaq's coming back. you know, at one point we were down by as many as 137 points as big tech took some new lows, but looks like we're coming back a bit.

again, at the root of the early selloff, a surging 10-year treasury yield rising for a third straight day to a 14-month high. what is fueling this move? well, maybe it's a new wave of stimulus and infrastructure. we are on the precipice of spending courtesy of team biden. the president set to announce his plans tomorrow for a multitrillion dollar rehab of the economy. but why wait to get in on the action? our floor show traders have the picks they say you should be buying today ahead of the unveil. the year of the bitcoin holding strong as paypal paves the way for even more uses for your favorite digital tokens, not just bitcoin. but what does the woman known as the crypto mom of the securities and, change commission have to say about it all? in her first television interview since paypal's announcement, hester pierce here on "the claman countdown." and could the world's biggest

names in tech be looking to design their own semiconductors, and just as they do so, could they be cut off by invid ya's $40 billion buyout? arm's see you veils his company's newest chip technology. and what about the chip shortage? what is that going to do? of course, we will ask him. but first, while the big four u.s -- big three u.s. indices are moving lower, take a look at the russell here. the russell charging ahead close to session highs, up 38 points. that's a gain of 1.7% just as we see the dow jones industrials down 44, s&p down 7, the nasdaq down 12. so a slight lag with those three, but a big one for the small and mid caps. forget all that for a second. i need you guys to take a look at the dow transports. as you can see, we're not even four months a into the year, and

the trannies are on pace for their 20th record close of 2021. charging ahead by 228 points right now. now, haas year the transports only saw 13 records for the entire year. what is going on here? a massive investment opportunity the could be unveiled tomorrow with transport and infrastructure stock poised for what could be a big move. take a look at this. okay, so this is video from july 2020. it captures drivers who were stuck as water gushed -- okay, this is my biggest nightmare -- gushed into the lincoln tunnel which for those of you don't know goes under the hudson river. this after a water main if ruptured. this just three years after president donald trump highlighted missing and falling tiles from the ceilings in the lincoln tunnel while he was discussing the detoday caying state finish decaying state of the nation's infrastructure. nothing much has changed. more than 45,000 u.s. brims have

been rated -- bridges have been rated in poor condition as the framework continues to crumble. the american society of civil engineers grades the condition of the country's overall infrastructure at a c-. is that about to change? tomorrow president biden expected to unveil part one of his $3-4 trillion infrastructure plan to rebuild and beef up the nation's roads and bridges, etc. but is there a screaming investment opportunity right here, right now? all right. let us get to our floor show traders. you guys have to give us some names and some ideas before tomorrow's announcement. tom scott, thank you so much for joining us. let me just begin with this, because we've got a couple of etfs. looks like smart investors have quietly piled into the invesco s&p s&p small materials, up about 101% over the last 52 weeks. and if you can flip that over to american industrials renaissance, that's also spiking more than 100%.

so, covet, is today bart -- scott, is today better than tomorrow to get into individual names? >> i like some individuals, liz. i think it's always buyer beware. it's a buy the news, sell the rumor -- or buy the rumor, sell the news, excuse me. is tomorrow's speech going to be somewhat of a disappointment. ing now, i think the infrastructure talk is going to be here for a while, so i don't think we're going to see any real big pop tomorrow. however, this is not going away. so there's three stocks, santorum stocks that i really, really like -- individual stocks that i really, really like. one of them, first, is veil. it's a brazilian miner of iron ore. it's been stagnant the last three months or so. if we do get a big building boom, their production is going to skyrocket. in addition, they pay a 7% dividend yield already. the other really nice thing that the biden administration might

like about them is they're very green. they are also at this already 80% of its electricity usage is sourced from renewables, so that's number one. number two, i like eton corp.. their specialty is integrating the wind and solar farms into the national grid. we all know wind and solar and what this administration wants to do with that. they also pay a 2.5% dividend. the chart beautiful from a technical standpoint. slow, meed nod call climb since the -- methodical climb. those are two at the top of my list. liz: yeah. and, tom, you give me your ideas because i started looking, and we've covered this name for a long time, i'm just throwing up ceme, and, i've looked at this one for a long time. it has done really nicely over the past 52 weeks. it's up about 6.8% right now, and as we look at this here,

it's up 200, i don't know, 66% over the past year? but there are a lot of things that you can pick individually, correct? >> that's correct. so, you know, like scott said, many of these names in industrial, materials, clean energy stocks have really anticipated that since the election they're up quite a bit. this is not the time to chase them. however, i am focused on a couple parts of his plan. one is the ev stations. they want to increase the electric vehicle charging stations from 100,000 to 500,000. i think tesla's going to be the biggest beneficiary as they have the most cars on the road, they're the industry leaders, the first mover in the industry, and second is energy-efficient homes. solar is going to be the beneficiary. we like the industry leader first solar. it's trading at 20 times earnings, half the industry multiple, it has the strongest balance sheet, it has tremendous cash flow generation for buybacks, and they have a technological advantage with their series 6 panelment now, how do we pay for this $3-4

trillion, liz? that's the problem. taxes and issuing more debt. so on the tax front, i like h&r block trading at eight times earnings with a 5% dividend yield. people are going to want to get into compliance, and their business is growing quite a bit. their payroll services and small business is up 32% year on year, the implied multiple expansion with 40-50% appreciation over the next 12 months and with yields rising with the do debt issuance, we still like wells fargo. we know we gave it to you last year, but with that increase from all the debt issuance from credit reserves being released and from lending increasing with the reopening, we love wells fargo. liz: okay. i by the way, again, president biden unveils his part one of the infrastructure plan tomorrow. so during this hour we're going to revisit all of this, and we'll see how they are moving. tom, scott, thank you very much.

>> thank you. liz: we need to get to the situation, we have breaking news on that mar june call heard round the -- margin call heard round the world. more become known about the family investment office to whom they lended hundreds and hundreds of millions of dollars for investments that then soured. bill wang's archegos is looking more and more like the largest forcing acquisition of stock -- forced -- of stock acquisitions. >> great segment on how to make money off tax increases. i never heard that before. [laughter] liz: hey, there's always a trade, charlie. >> i guess so. i was fascinated by that discussion. as i am fascinated by this evolving story, and it's still not over. it's the up wind of the archegos, bill wang's positions in stocks that was forced through margin calls, and it's reverberating through wall street.

here's something that's very interesting and something that i've been bouncing off of senior wall street executives, c suite industry ceos and in that sort of cfo area. why aren't they disclosing -- credit suisse and nomura, why aren't they disclosing the size of their hits? if you look back in history when jpmorgan got stuck with the london whale trade, they initially placed the number at a few billion, then they upped it. but they kind of knew where they were going. they upped it later on because they were still trapped in the trade. and from what i understand and i'm getting this, again, from senior people that do this for a living, either create suisse and nomura rah don't know how much they lost on this trade and because they don't know they're probably still trapped in it, and that's why we're not getting the number. because this should be a number

that if they weren't trapped in the trade, liz, they should be able to say, okay, we're at six now. it may grow, but, you know, here's where we are right now. it's very fascinating to the street why they're not citing a number. and, by the way, or their silence is leading a lot of people to speculate particularly at credit suisse that they're going to do a capital raise am at some point. now, we should point out there are people close to credit suisse who tell us that their balance sheet is strong, that's the other side of the story, that they don't see a need to raise capital, at least for the moment. but it's still, people are shaking their heads and saying, well, if that's the case, why aren't they citing the number? their shareholders, this is a disclosable event if you know the numbers. your shareholders should know the number. you came out and said the losses are substantial and material. you should, if you know the number, you should cite the number. the question is whether they really do know the number

because they're trapped in the trade. and i think we're going to find out about this in the coming days, and, you know, we're going to find out exactly how much they loss -- lost and also whether they need to raise capital. again, people close to cs are saying, no, not at this point. but i will tell you this as well, liz, dick fold was saying how he had a strong balance sheet not long before lehman imploded. the same with bear sterns. i don't think they're going to implode, credit suisse. this is a totally different situation. they may need to raise capital. we should point out that jpmorgan did after the london whale fiasco. liz: yes, they did. >> yes. is we'll see what happens. but this is very strawpg. you either know it or you don't. if you don't know it, that means you're still strapped, you're still trapped in the trade. liz: yeah. but, charlie, doesn't it scare you that one flying under the radar family investment office could have the potential, thank

goodness it's not at least at the moment, have the potential to kind of turn things upside down? it's pretty stunning. talk about big enough to maybe fail, you know? >> yeah. and, you know, from what i understand, there are about five or six players like this out there. these are fairly large, sophisticated traders. all the firms want to deal with them the because they buy their products, they do their swaps -- liz: exactly. >> -- and they lever up. and by the way, you could, if you own 5% or more of viacom outright, you have to disclose that. if you have a long position -- liz: bun duo, yeah. >> finish bingo. yeah. >> and kind of what went on, and that's why he flew under the radar scream. each -- screen. liz: yeah. kind of what i do when i buy jewelry. charlie, thank you. [laughter] spread it around. [laughter] charlie gasparino, thank you very much. when we come back, crypto mom

sec commissioner hester pierce, so much to talk to her about. xrp, paypal's deal with the cryptocurrencies and so much more. ♪ ♪ ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

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♪♪ liz: you guys know this, just about nothing electronic works without them, but the massive shortage sparked by frantic demand during the lockdowns for laptops, screens and smartphones is still very much in play for the semiconductor world. a majority of the world's lek are tronic gadgets -- electronic gadgets and every single smartphone depend on one company, arm. arm designs the tiny microchip architecture in which any company can customize its own products. in a year's time, they will have shipped a cumulative total of 200 billion chips. because arm licenses its designs, it's escaped the chip shortage today and has just introduced a new ground breaking product. first on fox business, arm's ceo, simon cedars, joins us.

great to have you on during such an important time. you've just unveiled the arm v9. first, tell us what it can do. >> and great to be here, liz. so v9 is a really important ten for us. the act techture of a microprocessor is really important because it defines how software works, and it defines how the processer interacts with the rest of the system. and in our world given the number of licensees we have and given the millions of developers who aring writing code to run on arm's systems, it's really important there's consistency in that architecture. of so we only do a major update about once a decade. we did one ten years ago, the version 8, and in that time an explosion, we've seen the volume grow by about a factor of for. and now as we look forward to to next decade, we think about the things that are going to influence how the next generation of products and services really come about.

one is security because our lives are so dependent on all of these electronic devices that we car aaround, and the -- carry around, and the other is a.i. processing because the world of the future is all about data, and we've got to handle that safely and process it efficiently. so for us, v9 is all about addressing that and delivering on what we think will be another roughly 300 billion ships shipped in this coming decade. liz: yeah. the reason we're showing softbank, by the way, is because softbank owns or opened all of arm and thousand will own 10% -- and now will own 10% as invidia has made a pretty significant play. but i do have to ask you about the pandemic surge and the demand for gadgets from laptops to lighting that all, actually in many cases, do need your architecture upon which all of the other companies whether it be qualcomm or intel actually the license your architecture. what kind of demand, if you can give me a percentage jump, have

you seen over the past year? >> oh, in terms of units shipped, it's been double-digit growth. the requirements for the technology to support work working from home have created huge demand, and i think as things start to open up, there's going to be a new surge of demand. so i don't think that the situation of demand outstripping supply is going to go away anytime soon. liz: you know, apple is one of your customers and announced, of course, its plans to pivot away from intel. and your chips are actually in the laptop i'm using right now, a macbook. talk to me about what you find the most interesting aspect about apple and working with apple when it comes to them use your architecture. >> well, apple, clearly a great company. they're inknow a sating in lots of innovating in lots of different ways and a great example of how licensees take

technology, innovate around it. we're seeing across the board in many different markets this innovation going on, people bringing their special source, wrapping it around this core technology that we create and generating products from supercomputers, cars, big emphasis on the future of mobility and electrification can all the way down to the smallest sensor. and this technology really is going everywhere. and that's what the v9 architecture is about, making sure that next generation can be efficient and up to the security needs that we think are so important to the future. liz: well, invidia obviously found everything that you do fascinating, and they made this $40 billion play to acquire you. you guys are dodging bullets now from everybody whether it's qualcomm, microsoft or google or regulators from china, the united kingdom, the united states, the e.u.. my question to you is you've got a lot of people saying that nvidia, which, of course,

competes with so many other names, were able to own you, then that becomes a huge pop because they produce the products, and the semiconductors and the companies that they compete against use your architecture, and the fear is that nvidia would choke off their access to arm's architecture. and then we don't have competition. where does the approval stand for this merger? >> well,ing the approvals process for a deal of this significance is, you know, it's never going to be quick. so we're working through that. we set out an 18-month timeline, and we're working towards that, and we don't see anything that changes that time frame. in terms of the concerns that you mentioned there, both arm and nvidia have been very clear that going forwards the licensing model whereby we create technology and make it available to anybody who wants to build a chip around it, that licensing model will be maintained after the acquisition by nvidia. so we think this is positive for

competition, the combined resources of our companies are going to enable even better technology to be licensed now into the world of the semiconductor industry. so we think it's going to be a positive thing, and we remain confident that the regulators will see it that way as well. liz: well, you certainly would stand by that, i'm just not sure nvidia once they get their hands on you, but we're going to watch and see. psi mornings please come back. it's great to see you -- simon, please come back, it's great to see you doing so well. jeffreys boosting its price targets on delta the, united and american airline today, and by the way, the brokerage exiting the bear example on american, specifically raising shares from a sell. american, delta, united all moving higher. airlines grappling with covid passports now joined by colleges and universities across the country. the new requirements they're

weighing, what it means for students hoping to head back to campus this fall, and which stocks might gain on increasing demand for testing and vaccines? closing bell, 36 minutes away. transports still on track for a brand new record. we have the dow jones industrials down 47. we're coming right back. ♪ ♪

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liz: the ev sector dominating pop and drop stocks. tesla's ceo, elon musk, is warning that near-term battery cell supply constraints will make it difficult to scale its all-electric semi truck. tesla shares jumping 3% right now, they do stand at $630.83. the gain today caps a 508% jump over the past year. ca canoe sinking to new low

after fourth quarter results included no revenue. canoe announced a change in strategic direction, it'll focus the on commercial vehicles such as delivery vans. the stock getting hammered, down 22%. and breaking news, folks, this just crossing the tape. according to sources, volkswagen will not be changing its u.s. name despite issuing a rebranding statement. okay, so this all started overnight. the german automaker, volkswagen, accidentally posted an unfinished press release on it web site which revealed that it would change its vockings wagon -- volkswagen america name to voltswagon america. well, we're just less than two days away from april fool's day, is so people said, wait a minute, is that a joke? but now it is now just hitting the tape the, according to reports volkswagen will not change its name to voltsw ark

gen america. [laughter] the stock is pounding higher right here. intraday it is now up 8.7%. all right. a quick check of thredup which debuted friday, it's now giving back 29%. the retailer's first-day gains on friday really were impressive, of course. that was the ipo price that it jumped up from, and today it is moderating and now stands at $22.28. gamestop is moving forward with its e-commerce push adding a former amazon executive and two chewy alums to its management slate. not surprisingly, that considering ryan cohen is on the video game retail ther's board and sparked much of the big movement gamestop jumping again 8% right now. as the rush to get americans vaccinated continues, the new director for the centers for

disease control is still sounding the alarm. rochelle walensky warned yesterday that she's still worried that a fourth wave of the deadly virus could rear its head. daily cases are back up on the rise, up 15% over the past two weeks alone. as some americans are still undecided about whether to vaccinate, will vaccinations be required if people are looking to return to normalcy? rutgers university in new jersey is the first college in the country to announce it will require all students on campus to be vaccinated for the fall semester. let's head right to rutter guesser where lydia hu -- rutgers has been gauging reaction from students. >> reporter: hi there, liz. as we're learning more about that policy that was announced just last week, we understand there will be an exception made for health and religion. but as of right now, it seems that most students that are hearing about this policy, this mandate, are in support. take a look.

we got a statement from the president of the student assembly here at rutgers university. he says it is generally the right move, the newspaper also published an op it expressing support. but we've also talked to students who are raising concerns especially since faculty and staff will not be mandated to get the vaccine before the return to campus. listen to this. >> faculty, they're older than us, so they're more susceptible to the virus whereas students, we're at that age where if we do get the virus, 99.8, whatever the statistic is, we're not going to be affected by it. >> so this might be becoming a stigma around the kids that opt to stay home out of their own concerns for their health. >> reporter: to be clear, fact i allty and staff are encouraged to get the vaccine. part of this also, liz, is the vaccine availability. currently, new jersey rates about 20th in the country for its vaccination rate. governor phil murphy has set a

goal to vaccinate about 70% of the population by july, and the school, the university plans to play a role in that. they will be administering shots to students and staff and faculty, but so far they can't do that because they say they don't have the supply just yet. now, let's get a quick check on the stock as it's trading in this last hour. we get the board up here, you can see moderna looks like it's down more than 3.5%, pfizer down about 1.25%, and johnson & johnson down about .5% right now, les. back to you -- liz, back to you. liz: yes. and i would imagine the testing companies would definitely be in demand if that is the case. lydia, thank you very much. lydia hu. all right, folks, as we look ahead, nft buyers, nonfungible tokens? the sellers need to listen up. if you slice up the original, you may be facing the dumbingal police.

a warning from crypto mom. she's here next live on the one mistake that she says issuers of nonfungible tokens better not make. closing bell ringing in 26 minutes. we're coming right back. ♪ ♪ with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;)

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♪♪ ♪♪

♪♪ liz: well, put your cash and credit cards away, paypal now giving shoppers the chance to, quote, check out with crypto, a new feature unveiled today the that allows u.s. customers to buy items from merchants using cryptocurrencies from their mobile wallets. and it's not just bitcoin this time. paypal will allow check out using etherium as well without any additional transaction fees. what does this mean? well, in her first tv interview since the news broke, we welcome hester peirce, the securities and exchange commissioner also known as crypto mom.

commissioner -- [laughter] great to see you. what's your first reaction, overall, to paypal's new checkout with crypto announcement, and i guess more importantly, what does it mean for these nascent forms of digital payment? >> liz, it's great to be here. i think the announcement just is further evidence that people are more comfortable with crypto, that it's becoming more mainstream, less of a niche thing, and there's much greater interest in it among the general population. liz: paypal's not the only one, of course. we can put up a bunch of big names. some of them are sort of fringe financial, mastercard, sees visa, etc., that are saying, you know what? this is an evolving opportunity. tesla, square, robinhood, morgan stanley, fidelity, they're all dipping their toe or full blown calf into this opportunity here. where do we stand when it comes to the sec looking at

cryptocurrency, regulating it and so forth? >> well, where we stand is we'd be in a much better place if the sec were in that list of entities that you just mentioned. we are, we're not being as forward-thinking as we should be when it comes to regulating crypto. we obviously only have a small piece of the regulatory puzzle when it comes to crypto, but we've been quite slow. it's an opportunity, i would say, for us to do better in the future, to try to be a bit more forward thinking and provide some more guidance so that entities within our space feel more comfortable dipping their toes into crypto. liz: i can see why they call you crypto mom, you have an unusual understanding and belief that it is something that is truly the way of the future. which brings me to coinbase, just had the accusations

revealed in "the new york times" that a one -- a bunch of people's accounts were drained and they weren't exactly forthcoming when it came to these problems. i thought the whole point about bitcoin and cryptocurrencies was that there is a ledger, there's a digital ledger you can follow, you can see every step of the way. so why do funds still disappear x how alarming is the potential for something like that for somebody like you who's trying to support crypto? >> well, look, as an initial matter, i think the role of a regulator is to allow for experimentation, to allow people to try new things, to put guardrails around that so that investors and markets are protected, but really to allow that experimentation. now, you know, there have been lots of instances that have gotten a lot of attention about crypto disappearing from various entities, centralized entities that deal in crypto, and i think that's why a lot of people who

engage in this area say, you know, not your crypto. you should think about whether you want to hold it yourself. now, that's obviously not going to be for everyone, but, you know, these are things that people -- i'm not going to speak about any particular institution. i think any institution dealing in crypto is going to be looking into protections they can put in place to make sure that its customers are protected. and so that's something that customers will look for when they figure out who they want to deal with. liz: well, to that end, when your talking about being concerned about how cryptocurrency affects the average individual investor and how much it should be regulated, the sec alleges that xrp -- which, of course, issue by ripple -- is not a digital currency. the sec says, in essence, it is a security and should be much more tightly regulated as such. now a judge, a u.s. district court judge, is ruling that because the sec threw that out

there, xrp holders were suffering catastrophic losses and that the economic damage suffered by xrp holders allows them to file suit against the sec because of this. where do you stand, and i know this is a dicey question considering you're at the sec, but is xrp a digital currency or a security? >> look, i can't speak about xrp. i do get lots of inquiries about it. i can't speak about that because there is an ongoing litigation with the sec now. and i should say that i speak for myself when i speak about these or other issues. and i've been very up front about the fact that i think we needed to do a better job providing better regulatory clarity about when an offering of a crypto token will be treated as the is sale of a security and when it's not treated that way. and so that's something that i'm working on, trying to come up with creative solutions to try

to provide some more clarity around a question that a lot of people have had. liz you talked about digital offerings, nfts are becoming such a hot thing, but there is a question as to how they can be sold. in and of themselves, for example, we'll show you the piece of digital artwork that sold for $69 million at auction. that in and of itself is legal, but you have warned that if somebody then slices it up into pieces almost like breaking off bits of a chocolate bar, that then makes it a curt and people need to be very cautious because they could be breaking the haw. what do you expect will happen as the sec's involvement starts to become a little more prevalent with nfts? >> well, i think people need to be careful in any of these new technologies they're dealing with to see how and whether the securities laws interact with them. we awe this in 2017 with the initial offering, you know, there was the a need for people

to go to lawyers and try to figure out whether securities laws would apply because the securities laws can be pretty open-ended, and it can be difficult to figure out whether or not they apply. liz: great can great to have you. -- great to have you. hester peirce, also known as crypto mom. up next, virgin black tick's next -- id. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. ♪ ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm. ♪ ♪ ♪ ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪

♪ ♪ ♪ ♪

so jeff, you need all those screens streaming over your xfinity xfi... for your meeting? uhh yes. and your lucky jersey? oh, yeah. lauren, a cooler? it's hot. it's march. and jay, what's with all your screens? just checking in with my team... of colleagues. so you're all streaming on every device in the house, what?!! that was a foul. it's march... ...and you're definitely not watching basketball. no, no. i'm definitely not watching basketball. right... ( horn blaring )

♪ liz: one giant leap for space tourism. virgin galactic has unveiled its new third generation spaceship called the vsf image. there it is. it has a very sleek design. okay, we're going to see a wider picture in a sec here. it's going to allow the space vehicle to mirror its

surroundings as it travels from earth to space. virgin says it will begin ground testing and glide flights sometime this summer and then, of course, virgin will begin working on the inspire, the second of its spaceship -- look at that. is that hot or what? shares of space currently jumping 2.6%. it has had a nice move over the past 52 weeks. larry, you know what? before your show, the reason the space race use to be the all about reusable rockets and getting astronauts up to the iss in u.s.-made spacecraft, no more russian involvement there, but now the focus turns to tourism, longer-term space living and, of course, the space force. what do you think is the most important part about the role that private companies are serving when it comes to joining forces with nasa? larry: well, it should be big. it should be really big, you know? my view is elon musk should run everything.

virgin are very good too. [laughter] i don't want to get in trouble on that. but, yeah, private sector. the defense department and nasa get its hands in this, bure bure racktize it, the space force was not my favorite thing. i didn't make any meetings on the advisory board. anyway -- [laughter] elon musk for president. he can just run the whole thing. look at him, there he is. he's the smartest guy on the planet. liz: yep. listen, it's like the girl scouts. i was part of it and never showed up. so i get that. but, listen, that's interesting because i would have thought you'd support the space force. i mean, at some point everybody's looking at the "star wars" example of we've got to figure out who owns the orbits out there. it just seems like, yes, blue origin, which is owned by jeff bezos, is in this rusk with elon musk and virgin galactic. i find it fascinating. i think the it really forces us

to leap forward. larry: yeah, see, the competition among the private sector will generate breakthroughs, lizzie, that no one could possibly do in the defense department or space force, whatever it is, you know that. and they'll do it with private capital. they'll try to get some government subsidies. i wouldn't give them any. maybe a little bit of r and d. but really, private capital, and when they make the mistakes, they'll learn from the mistakes, and they will do it 10, 20, 30 times faster than the government will do it. trust me on this. i worked with the defense department for for three years. i love our military, it's the defense department that i had problems with. lawz liz yeah. remember the $10,000 toilet seat? larry: now you're cooking. took me three years. it took me three years to sell 100 megawatts of spectrum because the dod wouldn't let go it. 100 megawatts, for god's sake. it was never even being used.

[laugher] liz: larry, you're the best, thank you. see you at the top of the hour. thank you so much. >> when we come back, we've got about six minutes to go before the closing bell rings. the dow still stuck in the red, but the transports on a tear. we are looking at an all-time record close. the 20th of this year for the trannies. we're coming right back, don't go away. countdown closer. ♪♪ ♪ freedom has no limits. there's no such thing as too many adventures... or too many unforgettable moments. . . but when it comes to a vehicle that will be there for it all. there's only one. jeep. [laugh] there's only one. dad i got a job! i'm moving out. [laugh] dream sequence ending

no! in three, no! two, keep packing! one.

i knew about the tremors. but when i started seeing things, i didn't know what was happening. so i kept it in. he started believing things that weren't true. i knew something was wrong, but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia related psychosis.

and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your healthcare provider about nuplazid. ♪. liz: three minutes to go before the closing bell rings. the nasdaq clawed its way into the green during the past, i want to say 25 minutes but slipping again into the close, down 42 points. the gold star of the day, the dow transports on fire, right? barreling toward a new record jumping 175 points. so we've been hearing a lot about inflation this week. gasoline price as flashpoint, right? they're up more than 25%

year-to-date. listen to this. nearly 50% higher year-over-year. should that scare you? wait a minute, they're right at the 10-year average, $2.85 a gallon. today's "countdown" closer a lot of headlines you see about inflation cause a lot of panic but guess what? due to the economy reopening stay focused on the big picture, it is not that bad. we're right back where we were before the pandemic. kevin berry, 600 billion under management joining us right now. you're saying don't get hysterical, which is hard for me not to do, don't get hysterical about certain inflation headlines, only when you put them in perspective come back to the beginning. so what is the trade here you see? >> focus on the big picture, liz. hard for me to do that, you're a delinquent girl scout and did not sell your totally --

liz: totally. beverly hills brownies. you. >> will pay more to go out to a restaurant, a dollar or two? of course you will pay it. you're dying to get out. two trillion more in savings. people have been grounded for the last year. when the doors open they will come out and they will spend, prices will go up. part of the prices are just resetting. so gas back up to the 10-year average. commodities up a lot but still 20% below the 10-year average. so we're resetting prices just like we're reopening the economy. liz: you like devon energy. you like some of the banks. what is your main theme? >> we think value does well here as rates go up given the larger deficit. banks do well. goldman sachs, a great spot. raised a lot of deboss its in the marcus bank. ready to lend. investment banking will do well for a very long time. we like goldman. on the energy side deaf have

been energy. $22 a share. 30-dollar price target. [closing bell rings] liz: thank you. kevin beary, thanks for coming coming on. look at lower right-hand corner. transports hits -- ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. glad you're here. maybe waiting for president biden's big announcement on infrastructure. president biden expected to unveil his plans, the alleged infrastructure plan i say, which will be frankly less about traditional infrastructure and a lot more about the green new deal and a massive across the board tax hike. now, people love infrastructure. but they are not going to love this plan. by the way, also buried in the plan is