regards to airlines. charles: las vegas sands report after the close, and save. eddie, talk to you again soon. a nice steady move to the upside as i hand it over to liz claman. liz: yeah. and eddie forgot to mention chipotle, right? coming out after the bell as well. charles: absolutely. liz: chart, thank you. you know -- charles, thank you. it is not so much what the nasdaq is doing, but what it would if be doing if it weren't for netflix stock. you can see the on the screen it's plummeting at after its quarterly report it could be losing some of its superpowers. the floor show traders are here to tell us if the better choice could be disney, peacock or an entirely different name.

the breakaway league just announced monday, literally monday, it's now imploding as key teams suddenly got spooked. what happened? genius sports manages the data for the premier league as well as for the nfl, the ncaa, the pga. the ceo is here. the company makes a very impressive public debut. and do you believe fed chair jerome powell's constant repetitions that rising prices we're seeing nearly everywhere are only temporary? in a fox business exclusive, we're talking it straight to the guys dealing with spiking inflation, the toy giant behind the uber-hot bratz dolls, both are going to reveal what they're seeing in the trenches and whether they will be forced to hike prices on you ahead of christmas and the holidays. have consumers and investors hit peak netflix? analysts are fearing, yes, at

least temporarily after the streaming king's subscriber growth stalled in the first quarter. and you know what in it's not just that netflix reported 4 million new subs versus the 6.3 million expected, it's that the company's guidance of just 1 million for the current quarter has shares sinking to the bottom of the nasdaq. netflix blaming the ongoing pandemic for for the slowdown. plus some suspect that netflix's crackdown on password sharing has put a chill on new subs. even as co-ceo reed hastings promises netflix will not, quote, tighten the screw cans on consumers -- screws, rewe seeing netflix fatigue? let's bring in teddy weisberg and larry shover. is this a better name in the streaming world right now? >> you know, i think it would probably be hbo only because

they demonstrate a parallel to netflix. and, you know, i've been wrong about netflix for two and a half years, but, you know, they have strong execution ramping up their own content just like hbo, demonstrated pricing power, and we have to remember that it's not a zero sum game. all that to say i think when you look at the accounting, when you look at the share price versus valuation, hbo is probably the better bet at this point. liz: and, of course, owned by at&t. and as we watch all of this, you know, teddy, what is your buy right now? >> well, if i had a pick, i'm not sure i'd play in that a sand box, but my pick would probably be disney. i think disney clearly has hit a huge home run with their streaming product. but beyond streaming they have so many other things going for them. streaming certainly important to them. so even if the streaming sort of

takes a back burner for the short term, they have a lot of other avenues to generate a lot of increased revenue as we all come out and emerge from the pandemic. liz: yeah, i get it. but i just think we should make this statement: netflix has incredible revenues. they beat on earnings per share as welcome it's a pause if -- as well. it's a pause. this company is not going away. people have written its epitaph millions of times, so let's just say this is all temporary, i would think. we're keeping a close eye on the crypto market. cathie woods' around invest has added again, she scooped up another 153,000 shares of coinbase bringing the total to more than 1.4 million shares. bitcoin's about $9,000 off its recent high. larry, what are you reading in the crypto tea leaves as somebody super smart and super successful as cat health care

ie -- c,athie is adding to this position. >> something smells right now, because at the end of the day if crypto's actually a current i, it should never be more volatile than what you can buy and sell with it. also volatility should not be going up with time and with the fact that price is going up. we have to remember there's 8,000 of these things. they're not backed, there's no protection. 180 of them have just -- 1800 of them have just gone away. and they're volatile. so so let's keep that in mind. you know, i can bend a fork, melt gold. bitcoin, what can you do with it? if the dollar, as long as the government has the opportunity to tax its people, the dollar's going to be worth a dollar, but bitcoin, it's not a currency in my view, and i know i'm going against the grain. felt the same way about dot.com in '99. liz: teddy, just like all new,

emerging sectors, right? you're going to have winners, you're going to have losers. but there were thousands and thousands of web sites that went under. ebay's still alive, paypal's still alive and kicking, doing incredibly well. you don't want to look like somebody who says i hate change, you know, i'm never going back to refrigerators, i want to be with the icebox. what do you see when it comes to the crypto world? we have bitcoin pulling back by $1,323 right now. >> perhaps i'm simply too old and too stupid -- [laughter] but i'm inclined to agree with larry. i mean, i've been doing this for well more than 50 years. i've seen investing fans come and go like rain drops on a summer day, and eventually they evaporate. who knows, you know, maybe this is the second coming. only time will tell. but i think, personally, i'd be a better seller than a buyer.

i think it's a bad -- i don't know when and how and if it plays out, but basically you can't touch the it, you can't feel it, you can't see it, i don't have any interest in it. liz: oh. you know what? all right, sold right there. teddy, larry, great to see you both. thank you very, very much. okay, guys, would you look at the dow jones industrials, gaining 249 points at the moment. so we've got green on the screen, right in now, we literally just told you monday that there was a brand new breakaway soccer league. today not so much. >> i want to apologize to all the fans, supporters of liverpool football club for the disruption i caused over the past 48 hours. the project put forward was never going to stand without the support of the fansment. liz: that was liverpool fc team owner john henry falling on his word this morning saying that he was pulling the team out of the super league after a fan

freakout and fury from soccer's governing board and the u.k. government. this was all in the span of, what, 48 hours? the two publicly traded team, manchester united and -- both have fallen dramatically on the league collapse this morning. but a split decision right now, we do have man-u moving higher at this hour, and what about backer jpmorgan chase? they were ready to put in $4 billion into this brand new league, and that was just this past sunday. let's bring in mark lock, the ceo of genius sports group, the sports data provider that debuted on the new york stock exchange today under the ticker symbol geni. mark, huge day for your company. let us first start with the breaking news, this collapse of the super league which was just announced on monday, less than 48 hours later totally implodes. what's your take on what happened here in? >> yeah, it's been a roller coaster, hasn't it?

the conversations around the european super league have been going on for a very long time, since the 1990s. i think what's happened is covid exacerbated the problem, you know? some of the funding grassroots sports, you know, suffered a loss again. and really what's happened is it's really brought into focus a lot of the issues with some of the risks around the funding sport on a long-term basis. we've been saying for a while that you've got to find new ways of engaging the fans, new ways of driving value and driving value for the sport leagues because fundamentally, you know, the way that broadcast is evolving, it's being disruptedded, and you've got to look at new ways of doing that. and i think this is a manifestation of a lot of those issues. but -- liz: is it fair to say though the economics of the sports leagues there have to shift, they've got to change? >> yeah. we've got to recognize that

sport is a business, it's a business different to other businesses, you know, in that it does thrive on competition. the other thing that's going on, you have to understand the operator, you know, unique position in the market. but the difference here that you've got the fans involved and the cultural differences are huge. and you've got to find a way forward that -- [inaudible] as well as the fans. and i think if you can do that, then you can shift that on a commercial basis for some of the operation of these sports in the right way to drive and drive innovation in the future. liz: let's get to your operations. first of all, congratulations. i just want to let you know what we've done is we've put up your ticker, your stock as it's trading right now. it is heading back up as you appear on our show to session highs, up nearly 925%. -- 9.25%. you're at the nexus of media, sports data, fan engagement,

sports wagering, all of these very hot areas. crystallize for us what you expect as far as growth is concerned in the near future. >> yeah. i mean, you're spot on. what we do is we're a technology company. we come from that, and really we provide technology solutions that connect all of those different parts of the ecosystem. and i think that a key thing to understand is that sport is an ecosystem. as i said, again, relating to the european super league, it's really important to make sure that all parties within that ecosystem are well served, and the way that genius does it is it provides technology platforms. really in a nutshell what we do is we work with these sports leagues and federations, we collect data, we provide them with technology services, and then we use that data to drive value, drive fan engagement, drive the sports betting sites. so, you're right, we sit at the nexus of that. liz: mlb, ncaa, pga golf,

nascar, the nfl. talk about the nfl. we have watched that league moreover, and it's pretty incredible. -- morph. it flagged on some ratings, certainly, but people seem to be more engaged than ever when it comes to wagering on games, and because of it it's almost like media operations were in a big fight to try and nab different thursday night games or sunday games. and you've got amazon in the picture as well. what does this mean for your company and your role in dealing with all of these disparate media companies? >> yeah. the nfl is a major business like none other. it's nominally impressive. and i think really what they're seeing is a future convergence between all of the four sectors, the media, the sports wagering, sports technology and the streaming side. and what we do is we really fit there at that nexus providing that technology services to those various different

organizations that sit and benefit from that and really help to bring our partners a way of monetizing that next generation of fan and really growing that fan base. because as we said before, you know, the way the broadcast is changing, and that needs to be tackled from a technology point of view. liz: i get the fan engagement, it, and all of that, it's very exciting. but i must tell you as we look toward what is actually happening when it comes to an increasingly competitive space, you have all kinds of names out there. you know, some of your competitors. tell us why leagues, can you nab some more exclusive leagues? where's your opportunity to scale up here? >> yeah, look, i mean, our business is about innovation, it's about driving our growth, driving sports leagues' growth, driving our partners' growth through innovative technology

solutions, you know? that's what we do. we collect data, we use that data by wrapping it in innovation, innovate technology solutions and really driving growth for those sports leagues and federations. when the nfl chose to work with genius, they were very focused on how we could help them to innovate, access the next generation of fans. and again, whether that's repeated throughout different sports leagues is something that we're, you know, we're obviously able to achieve. but really what's driving those decisions is making sure that we continue proving that we're innovating and we're providing the best technology services to the sports leagues and federations. liz: yeah. you know, just so you know, you've just hit your session high, up about 10%, or at least you're getting super close to it. >> i should talk to you more often. liz: when we started, you were up 7%. anytime, you are welcome.

[laughter] it was a reverse merger, so when you see the six month chart, it actually reverse merged in a spac. so please come back when you've got more news to break. we're here for you. >> i certainly will. thank you so much for your time. thank you. liz: thank anytime. mark locke. up next, charlie breaking it on the major move the nyse has in the works to kick off the post-labor day season. yes, it brings us to the floor of new york stock exchange. he's going to break the news. closing bell ringing in 45 minutes. the dow gaining 270 points right now. don't go away. ♪ ♪

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♪ ♪ liz the most icon ec stock market in the world, the new york stock exchange, has been closed to some media outlets since march of 2020. now it looks like the nyse may be getting ready to open to journalists by this fall. joining us now, charlie gasparino. i remember -- we broke the story when it was closing, they were kicking traders off way back when a year ago. >> i know. it was closing to the media. the traders are allowed back in,

all the traders, if they want to come back. a lot of them haven't. but the big thing that's missing from the new york stock exchange, and if you're a follower of the new york stock exchange and its parent company, the ice, they get a ton of publicity and marketing support from the fact that every major business television network and many others are on the floor of the stock exchange. cnbc has studio withs. we have a presence there. yahoo! finance and many, many more. that presence has been done since march, and here's what we understand. my source, my producer, ellie, did a really good job of breaking this story. and what she hears is that sources are telling us that they are eyeing a possible september date to reopen or at least filter back in the media to the floor, getting those studiosback back, maybe getting -- studios back, maybe getting some floor reporting back. they're going to start, meaning

they, the new york stock exchange, they're going to start reaching out to media members from what we understand in the next couple weeks to sort of plot this return to the stock exchange and to get those studios going again. one of the problems i think they're going to face here is this:sing i can't tell you if the media's going to come back, this is very much in the early stages, and the situation is fluid. if we have an uptick in covid, that would probably end any of these efforts. as you know, the virus is waning particularly here in new york city. mayor de blasio came out and reported that cases are down, hospitalizations are down, deaths are down, that's prompting some in that we can return to normal in terms of business conditions by at least labor day. but here are some of the issues they're going to face, a lot of traders don't want to go back. as you know, the trading floor has been decimated in recent years as the new york stock exchange has gone from electronic trading -- a trader-based, human-based trading platform to largely electronic based. there is a contingent on the

floor of traders, about 300 prepandemic, only about 150 are come back to the tock exchange, and it's unclear how many of the rest will come back even as covid wanes. so a lot of these traders are telling us that they can work from home, they've figured it out. it's very easy. they can service clients. they don't have to be on the physical floor of the stock exchange to do what they have to do. so if you don't really have a lot of traders and you have a bunch of reporters, that whole scene -- [laughter] that we create every day where we talk to traders about volatility, where we do the opening and closing bells which is an iconic, both iconic sort of images of wall street, that may be less appealing to a lot of journalists. so we'll have to see how this works. but again, liz, exclusively breaking, ellie did a great job of reporting this out. we have something on foxbusiness.com right now laying it all out. there you are. by the way, not a lot of people around you even then.

liz: even then. you know what? i love our traders down there, and i love being down therement e -- there. sometimes in the past management has said, liz, you're getting in the way. i get in the way of anybody. there just aren't enough -- i hope everybody goes back. >> you know, the new york stock exchange can be some of the biggest pains -- and not the traders, the management there -- liz: oh, yeah. >> -- biggest pains in the rear endses, and i deal with them all, trust me. [laughter] you know, they're just weird, tight-lipped. and, by the way, they favor brand x over us all the time. i mean, i don't know what the hell that's all about. liz: oh. >> it's pathetic. i -- but ellie broke the story before they could leak it to brand x, which is a good thing. and, again, this is fluid. we're not saying anything's written in stone, but they are making preparations to bringing the glorified studio, the glorified trading floor studio e back, and it could come as early as september. liz, back to you.

liz: i love it. and i hope peter tuck match, the famed trader who's the most photographed trader on planet earth, he looks like albert einstein with the hair, i hope he's back. we will be there if the nyse will have it, and i hope they do. charlie, thank you very much. an antitrust slug fest is actually playing out right now on capitol hill. we've got your blow-by-blow on the punches being hurled at apple and google by the biggest names in tech infuriated by how a apple and google wield the power of their app stores. we're going to get you the stock fallout as well. plus, you've heard of silicon valley, new york city's silicon alley. up next we are taking you to tech's hottest next thing, the new hub in the u.s., silicon slope. connell mcshane pulls back the curtain on utah's tech boom. closing bell ringing in 36 minutes, the dow is back above

34,000 with a gain of 263 right now. nice moves for the transports and the s&p. we're coming right back. ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

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liz: fox business alert, cruise lines setting sail in today's pop stocks. hook at norwegian caribbean cruise lines. great day for this company, up about, let's see, 8.8% after goldman sachs boosted its rating to a buy on norwegian's growth potential. also predicting that pent-up demand will create a wave of recovery for all u.s. cruise operators with norwegian standing to benefit the most. and despite if barren burg's continued sell ratings, you have got carnival up by about 5%, royal caribbean up about 3.5%. the game may be over for gamestop's ceo george sherman,

but he is still winning a pretty big prize. the soon to be former ceo of trader roaring kitty's favorite retail stock will be walking away with a $179 million golden parachute when he leaves the company by july 31st. sherman's upcoming exit all part of incoming gamestop chairman and chewy cofounder ryan cohen's effort to transform the company into an online retail force versus storefront retail. the gamestop's shares down to $157.35. and tesla is saying we're sorry to chinese consumers. elon musk's ev giant promising to set up a computer complaint office after one tesla owner who couldn't get the company to answer her complaints about malfunctioning brakes literally jumped on top of a tesla at the shanghai auto show on monday as protest. there she is. you can see this right now.

yeah. she had a problem with her brakes. she kept calling, apparently. nobody's answering. so her display caught so much attention, heck, we're talking about it now, that it set off a social immediate ea ya firestorm and grabbed the attention of state media and chinese regulators leading to tesla's apology. and as we said, has promised to create a consumer complaint line. tesla shares up nearly 3% right now. hmm. that's one way to get attention. lidar giant with luminar hitting the gas at this hour, up 14.6% after mapping some new executive team from elon's empire and also intel. it stands at $18.81. best day in more than a month. we need to get to this breaking news out of capitol hill where at this hour league eagles -- legal eagles from

apple and google are getting complaints about their app store policies and dominance. right now this woman here is general counselor of tile. ironically, apple just came out with a competitor, air tag, to the tile find my device, and that was yesterday. apple moving higher by a quarter of a percent, google town half a percent. basically, what the counselor is saying is that apple -- and was agreed to by a spotify executive named horatio gutierrez who just spoke very impassionedly -- said that apple does not really play fair at all, doesn't take a ph.d., here's the quote, to understand apple's app store terms are abusive. apple playing favorites. google is also accused of doing the same thing. while biggies are punching each other out in washington, d.c., a

tech story perhaps much more exciting is happening due east of the valley. to connell mcshane in provo, utah, now being called silicon slopes. hi, connell. >> reporter: hey there, liz. yeah, you're right, it is a lot more exciting. you look around this area, and you can see why people love it, tech industry and otherwise. the views are just spectacular. everywhere you go, this is how it looks. the mountains, it's really something else. and then there's the business environment which is something else as well. we went to see duncan aviation which maintains private air a craft here. chad is one of their executives. we were talking to him, and he says the companies set up -- company's set up here because it's business-friendly. a taxes are low and also because his employees, they want to live here. take a look. >> the cost of living compared to california or even the denver metro area, we're still a fairly moderate cost of living here. like most of the nation, housing is going up, but we're, with the

low state taxes, property taxes here, that helps offset that. >> reporter: so by the numbers, provo has been booming, the best performing large city in the entire country based largely on wage and job growth. it was funny, the ore day i had a chance to play basketball, believe it or not, with a 42-year-old billionaire, ryan smith, who founded a software company here back in 2002. he owns the utah jazz and, you know, he was saying that the pandemic kind of created this environment where someone who, say, livers in san francisco, they -- lives in san francisco, they now feel comfortable moving here. >> we're seeing that in utah. we're seeing so many people going, hey, i'm coming to utah, i love it. >> reporter: more open to it -- >> they're way more open. if you think about, you know, even silicon valley, none of those people are from silicon valley. they're from all over the world that said, hey, i want to go into where the tech boom's happening. and then they said, hey, wait a minute, no one has the exclusive

on smart people. >> reporter: the bay area wouldn't be what it was if it didn't have stanford or uc-berkeley nearby. the bottom line is this area has a lot going for it. you look behind me, these views are something else but, again, the business environment also is quite friendly and the economy here in provo really booming. back to you with. liz: you know, the view is amazing, but it's better to see you. connell, great to have you. [laughter] it's so good to see you there in provo. and, again, he's absolutely right, you know? nobody has a lock on smart people in the country, so so good for provo. up next, inflation no fun and games for producers of some of the hottest products on the market. coming up, the big price increases you could see under the tree this christmas and what it means for the stocks you might have hanging in your portfolio mantel. and why corporate tax hikes could be the ultimate grinch.

of all. closing bell ringing in 24 minutes. the dow's up 314 points, nasdaq up 136. guys, we're on a roll here. we're coming right back. boxing , but one day, you're gonna take a hit you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back. ♪♪

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people call my future uncertain. but there's one thing i am sure of... ♪♪ liz: pricing pressure, smoke signals have been wafting out from earnings conference calls lately. procter & gamble, coca-cola both announcing price increases this week in their quarterly reports due to higher material costs. here's the macro picture. the consumer price index in march rose six-tenths of a percent year-over-year. consumer price index is our best indication of inflation at the consumer level meaning what all of you guys pay when you walk to the store, buy a car. that's the biggest gain in nine years. well, the figure is high, fed chief scre roam powell has signaled over and over he's not alarmed. >> i would note that a transitory rise in inflation

above 2% has -- as seems likely to occur this year. liz: okay. so transitory means it's only temporary, nothing to see here, folks. well, who is alarmed in the business guys in the real world. we thought bring in some of them. joining us live, two top guys in the business world, arnold camler, chairman and ceo of kenter into national, and isaac larion, ceo of mga entertainment. guys, welcome. isaac, jerome powell says prices won't be a big deal, and it's only temporary. is he right or is he in government fantasyland? >> well, he's full of it or he's not in touch with reality. the fact is that right now prices out of china are average for toys up 22%.

the lack of -- transportation is doubled the cost of last year, and we have factory in usa, we cannot get labor. revenue's up, everything is up. i think inflation is going to be up double digits by the fourth quarter. and if the government doesn't do anything about it, we're going to be like turkey. liz: well, that's the thing, arnold. the government says it's only transitory, temporary, but you've got to tell me what you're seeing and doing as far as material costs and price hikes for your bicycles. >> yeah. i mean, this is a quite interesting time. i've never seen so many things happening at the same time. i mean, right now we've had in the past six months to a year increases of 30% in aluminum, 30% or more in steel -- liz: wow. >> my ocean freight now from, say, china to the west coast has

more than doubled. actually, we're paying about $1400 a year ago, we're paying $3500 now if we can get the containers. is so it's just a huge thing. and then, of course, we have the other factor, the trade war, which we were kind of hoping when biden's administration took office that that would go away, but -- i'm hoping it will, but i don't see anything in the near -- so, i mean, we're paying an additional 25% tariff on every single bicycle right now and every single bicycle that we produce in our factory in south carolina. liz: yeah. so what happens, isaac, when you go to your companies that you el to, walmart -- sell to, walmart, target, and you tell then i've got to raise my prices on you guys because my material pieces are getting so high? you know, i'm holding a bratz doll, the redhead that you sent me. what's the price going to be

this year? >> yeah. target, walmart, amazon, etc., no, no, no, you cannot raise prices. but they know the prices are going up because they import themselves. and that is going to be the reality. the doll that you have which is $26.99 probably going to go to $29.99. a lot of that price increase we're going to take ourselves, so we with take a hit to our profits. but at the end, the consumers are going to pay for these. and i fault the u.s. treasury and the government for this. i mean, do you know why last year there was a shortage of toilet paper, lizzie? liz: toilet paper shortage? well, why? >> yeah. because they were using those -- to print u.s. dollars. that's why.

[laughter] liz: wants his job back. let me get arnold in here before we go. what are you hearing from walmart? you are the largest suppliers of bicycles to walmart here in the united states, and what should, what should viewers understand about what's really going on separate from what the fed tells us is going on with rising materials prices? >> yeah, look, i mean, i don't see the same macro information, obviously, that chairman powell sees. but all i know in our world costs are going up, and our customers hate it and very unhappy when we give them the information. but they know it's true. i mean, they have so many different products with these same kind of pressures, and so they're doing their best. i know walmart is fighting these increases, and they're not passing on the full increases that we're even giving them. so it's -- but it's, it's tough for everybody. i mean, we're hoping that the trade war tariffs at least will

go away, but i don't see any let-up in steel prices, particularly if the new infrastructuren plan goes into effect. lrs liz arnold, isaac, thank you, because i really think it's important for our viewers to listen not just to people in d.c. and do respect jerome powell has done a great job certainly through the early part of the pandemic, but what business leaders like yourself are seeing in the trenches. thank you so much. >> yeah. thank you. liz: all right. we are checking right now what's going on. we are at session high at this very moment. the dow up 315 points. we are coming right back, don't go away. ♪ ♪

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again. it is getting "the claman countdown" bump. when we started our interview with mark locke, ceo and cofounder, the stock was up 7%. look at it now, just 50 minutes later, up 18.2%. investors like what ceo locke had to say right here on "the claman countdown." we are watching the sports data company very closely on its first day of trade. of course, due to reverse merger with a spac. all right, this is a story that could only come out of hollywood. after its first attempt at an ipo collapsing back in 2019, aria with manuel's endeavor now set to go public with a valuation of $10 billion. the agency that reps some of the biggest stars on the planet from mark wahlberg to, you know, you name it, tina fey, ben affleck, well, it filed its prospective yesterday including a top range price of $24 a share which would lead endeavor's ceo ari

emmanuel, of course, the inspiration for entourage's show ari gold, would leave him and executive chair patrick whitingsell with a controlling stake that at a minimum would be worth around $900 million in shares combined. private equity firm silver lake would be endeavor's biggest shareholder after going public. eight minutes from the top of the show, and that means "kudlow." bloomberg reporting that warby parker born during the great recession of 2008 is in early stage the talks for an ipo as soon as this year. with more than a hundred locations across the country and canada, warby parker could be valued at more than $3 billion if and when it hits the street. to the aforementioned larry kudlow. larry, warby parker right in the middle of the great recession, right? 2010.

okay, penn university and one of them's at berkeley. businesses are always saying there's too much uncertainty, meantime, these kids started warby parker, gutsy, and look at it now. what does this say. >> >> did you say berkeley? liz: yeah, you know i did. larry: so does that mean there's at least one or two free market, free enterprise capitalists at berkeley? [laughter] liz: yep, you got it. larry: well, then -- liz: we're there. larry: then that's a how many run. it's a -- home run. you're the only free enterpriser ever to go to berkeley. [laughter] liz: not true! you know, the founder of red mango went to berkeley, the founder of so many companies. you've got to understand that the ceo of intel, rest in peace, he ran intel, he was educated at berkeley. come on, now, mr. thing. larry: there are a couple. liz: you know, these are companies that started during

down turns and recessions. larry: yeah. liz: ge, fedex, procter & gamble, ibm, all started during recessions or depressions. larry: i think that's a great point, and if you have a free enterprise-driven economy and you leave it alone, then you get these great people, these geniuses who are not swayed by adversity or a downturn, they see things that others don't see, and they generate these fabulous companies which help consumers and hire millions and millions of people. i mean, that's just the wonder of america. it's why we are the greatest free market democracy in the history of history. it's a fabulous story even if some of them went to u-cal berkeley. i'm good with it. liz: you know, that's the thing larry and i have together -- [laughter] it's great to see you, larry. we'll see you at the top of the hour. we are coming right back, dow is up 313 points.

stay tuned. . .

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♪. liz: major averages just off session highs. a big, big rally here. we do have the nasdaq better by 158 points. it is percentage leader up more than 1%. our "countdown" closer says valuations though are stretched with signs of speculation at the margins, meaning you will see limited upside with stocks, but if you rebalance your portfolio, david joy, tell us how to do that so we can really grab some of that upside. david with ameriprise, the financial chief market strategist. 612 billion in assets. good to see you. what do we do when we're rebalancing here? >> a lot of people enjoyed a nice run in equities. it is another thing to be overweighted but another to be overextended at run-up in the

s&p 500. look at at home stocks, peloton, a zoom, shift into reopening trade like darden restaurants or union pacific railroad, or even kansas city railroad in the mitts of a bidding war. liz: david, what will be the leading indicators to you're looking for that will signal that we're going to have a more extended downturn? >> i think a couple things, we're getting very good earnings reports here. they're exceeding expectations but stocks are not really moving on that news. so that's one. the other is that maybe some of this inflationary pressure we're all expecting is a little more intractable than the fed thinks. all of sudden that shows up in forward expectations in terms of earnings this terms of inflation that is going to pressure stocks i think given where valuations are as you mentioned. s&p right now at 22 times

forward earnings, it is in the 95th percentile of historical observation. that is a stretch. [closing bell rings] liz: david joy of ameriprise with always great advice. thank you so much. that will do it on "the claman countdown" where we saw decent moves. larry: hello, everyone, welcome back to "kudlow," i'm larry kudlow, great pleasure to be here as always. we'll do infrastructure here this past monday. president biden met in the white house with a bipartisan group ever congressional folks, most of whom were former former governors and and two on the senate side, mitt romney, joan hoeven. we're told the meeting was cordial. frankly for expectations for a bipartisan deal should remain low why is this? i figure two big points. the gop