about the same david? >> absolutely, yeah you got to have your list ready to buy because if you're looking for big mega cap for the next six months might under perform. next three to five years i think it will outperform. charles: if you want to be nimble, be nimble but you better be ready to play that game. thank you both very much. liz claman, handing over pretty good market to you. liz: yes, thank you, you know what you're also handing it over just as we have some various breaking news we have fear fading fast as the shock and awe of yesterday's crypto crash disappears. the wall street fear gauge otherwise known as the volatility index is dropping about 8% that means more complacency and calmness coming into the market. stocks though are rallying as weekly jobless claims hit yet fresh new pandemic lows. the dow, s&p, and nasdac, about to snap a three-day losing streak, anything could happen in this final hour though. we've seen so much volatility in

this particular 59 minutes on a daily basis but at the moment the dow is up 212 points the s&p better by 45 look at the nasdac up 231, but did the fed just hint two different things? one, that the rapidly-improving economy means it might be time to takeaway the pandemic punch bowl? jpmorgan's top asset manager phil camparlli is here in a fox business exclusive to tell us whether yesterday's market scare is gone or if a fed fright fest could soon be coming. here is the second part of the federal reserve, breaking news, we're watching a bitcoin bounceback, as the fed chair just jumped into the crypto debate, with a video that he tweeted, the sharp price reversal is not exclusive to bitcoin, now following yesterday 's widespread crypto crash, we have ethererum and litecoin also on the move. digital currency, assembling as we speak right here in o the "claman countdown", the top

minds from block tower are here exclusively to talk about the fallout from yesterday's crypto carnage, why the only two tokens up yesterday are down at this hour and what the fed just tweeted about digital currency. and as oatley goes public we'll talk to another add tech about how it hopes its homegrown harvest of greenhouse tomatoes will one day grow serious profits. the app harvest ceo is here in a fox business exclusive that stock has been on a wild ride since it went public, but let me get to the breaking news right now, federal reserve chair jerome powell in a video message laid out a clear timetable for the fed to consider adopting a digital currency of its own citing the fast advances in financial tech and the potential benefits; however, powell did also put in this caveat saying the cryptocurrencies stable points which are pegged to the u.s. dollar and other crypto may "also carry potential risks to users and to the broader financial system."

powell's video message, so yeah, with the video message he tweet ed, comes as cryptocurrency has undergone wild gyrations over just the past 24 hours. had had been greedy yesterday and swallowed up crypto you'd be in the money as multiple tokens bounce back after yesterday's violent sell-off but if you were an investor sitting on the sidelines did you just miss the ultimate entry point into cryptocurrencies? well take a look at its worst point wednesday, bitcoin plunged 29.7%, dropping below $32,000 for the first time since january now look at this. dogecoin, bitcoin cash, binance coin, they saw bigger drops as prices plunged as much as 50% for dogecoin and bitcoin cash but if you made me take a page out of warren buffett's investment rule look and his rulebook is for stocks he hates crypto but if you took that page out and applied it to the crypto dip you might be smiling today

and that be his saying that you must be greedy when others are fearful, but what most investors learn about yesterday is they took toward future investing in digital concern, we've got it covered welcoming in our power crypto panel michael shallov, michael pachella and jeremy welch. right off the bat and we've got two michaels here so i'll start with michael pachella. tell me what you think of this news coming out of the federal reserve in the last couple of minutes that they too would like to perhaps delve into its own digital currency? >> yeah, its been worked on for a while now, so there's many former regulators a lot of folks in the industry working on the central bank digital currencies and it also came alongside some discussions around tax implications, which could have been a better time given the volatility in the space but it's something that i think every government is thinking about in china, the digital is pushed out to certain citizens there and so the u.s.

really is at this point , just deliberating as to how they issued this and what it means for monetary policy going forward. liz: yeah, i don't know. i would have to say this is significant, because, jeremy and you're at cracken, one of the exchanges this has got to be a very positive piece of news for you, but let me go back to yesterday. what was your world like as so many crypto exchanges were either knocked off line or suffering severe delays as people were freaking out and trying to get out of a market which today they are trying to get back into. >> liz we actually held up pretty well in this market. very exciting time, lots of new interest. i think people wanted to buy. it's a great opportunity to enter the market. honestly it's really never a bad time to come into cryptocurrency because this really is a revolution in terms of financial technology but we've seen over 1 million customers come in in just the last few weeks just the

last month or so, we're seeino even with these price declines, still getting a lot of interest and a lot of people are buying the dip. liz: yeah, they are, which brings me to michael shallov. you just hit a major milestone this week passing the what, 600 billion mark in digital assets for your digital wallet company here. tell me what you think has really been the i suppose the catalyst at the moment and then did you start to see shrinkage yesterday? >> yeah, so actually, yesterday was our record that we sold about $22 billion of asset movement in a single day. we currently serve over 300 institutional clients, and honestly, we're just seeing sort of an increased interest of people coming into the space, which also contributes to the volumes that we were seeing across-the-board, including krak en, including others, and i think that, by the

way, the news from today from the federal reserve is actually going to even accelerate it farther, because basically, to jeremy's point, this is essentially a financial technology revolution, and we are seeing governments basically joining in because they understand that they are not going to want central bank digital currency. they will be behind china, but more specifically, there is the risk that sort of the native cryptocurrencies will become and used and replace the current currencies. liz: well, there are a whole bunch of different ones and we don't assume that everybody knows what we're talking about. michael bauchelo, there were two cryptos yesterday that were the lone green names, and those were what we call stable points, they are pegged to the u.s. dollar, tether was one, they weren't speaking but you had the u.s. d-coin and today,

they're actually down. not that that makes a massive difference, but what does that say about people's sort of, i guess is that the new flight-to-quality in crypto-land when there's a lot of i guess volatility? >> well it's flight-to-quality and it's also kind of trying to get stable coins together to software liquidation so the reason that, since yesterday was the second-worst day, the worst day since black thursday, the second-worst day in history for ethererum in terms of price performance. a lot of the reason that these market movements are exacerbated is leveragend a so for people who are curry together basically put up collateral to maintain their leverage contract, they need to buy usdc or usdt, so that's why you saw this massive rush into it and it wasn't necessarily flight-to- quality and that's why bitcoin outperformed, it was nor flight-to-capital to support leverage in the system where we had $9 billion in liquidation in

24 hours. liz: jeremy let's give a nod to what sparked the sell-off and it was simply the chinese reiterating what they've always said which is we're cracking down, you can not use any crypto s as payment methods. yesterday, we spoke extensively with crypto participants who said this market can absolutely survive when it comes to china not being a player in all of this , but the fact that china's comment on this , gyrated the market so much what does that tell you and what should it tell our viewers? >> liz, we don't know for sure if it was the china comments. it is possible elon musk had a few choice words about cryptos over the weekend. we also have a lot of tax activity right now, so could be a variety of things. whatever it is, there is some momentum and some selling momentum in the market but that seems to have recovered here. you know, i think that really moving beyond the price discussion the bigger story is

that we're seeing more and more adoption, more and more interest , so again it is a time to get in and engage with this but regardless of what the price is, the revolutionary technology here, it's open source, it's easy to use, we're building a better financial system, more inclusive, more access globally, and kraken, we just got that first bank charter last year, to kind of build a crypto bank with both cryptocurrency technologies and the traditional financial system you're seeing technologies merge you're seeing roles merge, and again, it's an exciting time for customers, it's an exciting time for us, just a lot of growth here. liz: michael shallov, what do you say to the crypto doubters out there and it's not just warren buffett but it's jamie dimon who says he has nothing to say about it, he knows his clients want to trade in it but how do you make them understand and see through the prism that you look through? >> well i think that jamie

dimon a few months ago they already launched an rfp being a crypto custodian so i guess that most of those banks and we work with a lot of the traditional banks in the last two quarters, we entered about 20 rfp's, requests for proof for proposal for the top banks in the world, we're working with bank of new york mellon, and all of them are actually stepping in so i think that we're really beyond the point of no return here. i mean, at the end of the day, if they're questioning bitcoin, they can question bitcoin but at the end of the day, ethererum all of the other blockchains are inherently basically, the infrastructure of the future to issue federal bank digital currencies to issue tokenized securities, to issue non- fungible tokens and the same with nft's so i think that may

2021 is the point of real debate. liz: well, this will be the month that we can mark as that sort of at least one pivotal moment, michael, jeremy, michael great to have you. thank you so much for wrapping our viewers minds around the breaking news that the federal reserve says it's getting really ready to look into a digital currency. fox business alert, it's a retail wreck for three all-star names in today's pop stocks let's start with kohl's getting put back on the rack at this hour, the retail chain beating on both the top and bottom line and raising its earnings guidance for the year so why is this stock down 10% sales forecasts and warning on margin pressures to come, leaving investors in the newest athleisure market, sweating it out at this hour, l brands that ones down about 3.25% not so bad, but they're getting their wings clip ped into the close despite positive results as well, a lack of full year guidance and a coming split between its longer

a victoria's secret and bath & body works weighing on shares at the moment and let's flip it over to today's bottom spot on the s&p, going to ralph lauren, reinstating its dividend and raising its forecast, that's all good, right? well, not enough for investors still weary of covid related weakness in both europe and asia as well as the apparel maker valuation of the stock up 30% from its january lows. today though, down 7% for the fashion giant. ralph lauren stands at 121.91. from the bottom, let's get to the top, strong demand for spam, lifting hormel to the s&p leader board, earnings and sales topped estimates in the march quarter, the satisfying news is a boost in guidance, certainly pushing hormel to its best intra day percentage gain in 14 months. how much it's up 7.9% right now, and ford charging its way into the ev wars in a big splashy

way. today, more than 20,000 orders coming in in fewer than 24 hours for its f-150 lightning pickup truck that you see right there on the screen, it doesn't really even have an engine, its got just like the tesla does, a frunk, a front-trunk. the all-electric version of the top selling truck brand is now going to faceoff again the soon to be cyber truck rival tesla though not looking too much on the new competition. keep in mind ford has had a great year. this was an $8 stock, it is now at 12.45 today it's tacking on another 2.8%. we've got tesla up 3.5% to $ 582.97. well, as the economy recovers, at high speed, could jay powell & company be getting ready to get ready to pull the trigger on tapering? how must, say for example,, a top asset manager like jpmorgan be positioning clients ahead of

that possibility? up next a fox business exclusive with yes, jpmorgan asset allocation phil camparelli, wait until you hear what he predicts will be the timing of the fed's next rate move closing bell ring ing in 45 minutes you're watching the most important hour of trade and we're only just beginning on the "claman countdown." stay with us. (naj) at fisher investments, our clients know we have their backs. (other money manager) how do your clients know that? (naj) because as a fiduciary, it's our responsibility to always put clients first. (other money manager) so you do it because you have to? (naj) no, we do it because it's the right thing to do. we help clients enjoy a comfortable retirement. (other money manager) sounds like a big responsibility. (naj) one that we don't take lightly. it's why our fees are structured so we do better when our clients do better. fisher investments is clearly different.

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liz: rack them and stack them yet another sign to add to the growing mountain of evidence that the pick recovery is speed ing ahead, initial jobless claims have hit a new pandemic low, that means new applicants for government health dropped, more than expected, about 34,000 down to 444,000 in the week ending may 15. could improving jobless claims paired with rising inflation mean the federal reserve is going to have to start talking about talking about at least tapering the stimulative bond purchases its been making since the worst month of the pandemic? well yesterday, a window into that thinking cracked just a bit open here, courtesy of the fed minutes from april's meeting.

the fed meeting minutes revealed that several fomc members believe talking about a tapering plan maybe necessary at the upcoming meeting in june because things are looking better. since the april meeting, only dallas federal reserve president robert caplan publicly said he believes the economy would soon make enough progress to trigger a discussion about scaling back the fed's asset purchase program he repeated that sentiment just over five hours ago, during a virtual event put on my border-p lex alliance saying maybe taking a foot gently off the accelerator of stimulus be the wise thing to do here. could a rate hike be closer than we think? phil camparelli is jap asset management managing director scrutinizing all of the possibilities. well how about that, phil, we got a ray of lights coming out of the fed minutes indicating some participants were open to debate at upcoming meetings next one is july 15 and 16. make your prediction as to whether the fed talks tapering. >> thank goodness, liz its been

a long time coming so yesterday, as you mentioned, you're at least talking about talking about tapering, which is a big big kind of upgrade. in july, we think that that conversation continues. remember what jay powell said. significant progress, were his words, you need to find what significant progress was no matter how many times the press asked him he never defined it, said you'd know it when you see it so significant progress needs to be made and he would give the market plenty of time, in advance of when they start tapering and we would think that that plenty of time is about six months, so liz, you just said july meeting, our expectation is for an announcement towards the end of the year when significant progress is made. what we think it is, we saw the claims number this morning 444,000, great. i never thought i'd be so excited about a 444,000 number because usually that number is 200,000, but liz, it was 6 million at the height of the pandemic last april, and it was hovering about 1 million in

the fourth quarter of last year, significant progress though also has to be on the payroll number, a lot of reasons why that one needs a little bit more time and there's still eight to 10 million people that are unemployed, but liz, the combination of significant progress on inflation which we're seeing right now as well as a continued employment number that gets better, sets them up for a december tapering announcement and that's really good news. liz: i know, but phil, and yes, the datas been noisy because that april number was scarier than we expected it to be, and it was a moment where jay powell looked to be a little annoyed during the q & a at the last meeting where he said we have one good number. the march jobs number was good, and then sure enough the april one came in badly but you have to tell me what you are doing for your clients over at jpmorgan. is it too expensive to sit on the sidelines for investors right now? >> last time i checked those

checking accounts were still getting 0.00, so any time that we see an asset class, that's delivering 0.00, we're going to look in another direction because you're losing purchasing power everyday inflation is above that , so it is very expensive to sit on the sideline right now. the other thing is, you know, you may even think about valuations and just how far some of these mega cap tech names ran not just last year, liz but they were expensive versus the rest of the market before covid, so what we're saying is don't just buy the s&p 500 cap rated and what i mean by that is just buying the biggest stocks as part of an etf. liz we are making an explicit move in portfolios to buy all of the companies of the s&p and that's called equal-rated s&p 500 exposure and we're buying value stocks, the cruise line, airlines, deep value that we never had in portfolios until this year, because of the growth prospects of this year being the

best since ronald regan was president. this is a really exciting environment as we're trying to take advantage of. liz: well, you know, i'd hate to steal you from jpmorgan but you should come be an anchor. your energy is great, your knowledge is even better. phil i know jamie won't let us steal you but thank you very much. you'll have to come back on the show. >> so nice being with you and this is such a fantastic market to talk about so thanks for having me. liz: indeed, indeed, phil campor eale at jpmorgan. inflation, it may not be lighting a fire under the fed just yet but it sure is sparking a new flamin the trade wars we're headed live to a missouri metals manufacturing facility for the battle breaking out between the haves and have-notes when it comes to the rising costs of industrial metals needed for hadding everything. from your new car, to your new smartphone to the chips inside it and the stock you own that make all of those things, closing bell ringing in 36 minutes, the dow up nearly 300

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liz: we got to get to this breaking news. there are now at this hour, reports from israeli and other media announcing that the israeli cabinet has just approved a gaza truce, a cease-fire that could begin at 2:00 a.m. friday. reports out are a hamas official has confirmed a "mutual and simultaneous israel" its been an 11-day military operation in the gaza strip with a wave of air strikes on the strip today as hamas fired more rockets into israel, with casualties on both sides. at least 230 palestinians have been killed, israelis also among the casualties here and as we continue to see all of this activity on the ground, as soon as we get more reports we will get them to you, but president biden had yesterday

called for a significant de escalation in this violence. we shall be watching. so far, 2021 has been the year of heavy metal. copper, aluminum and led rocking like guns & roses this year, copper has spiked 29%, aluminum just under 20% and led up more than 11%, but is there trouble brewing in paradise city or at least mo-town? the mo-town of steel, the steel stocks are mostly in the red at this hour, as manufactures and unions clash over one particular idea that's been floated on how to drive down costs for home builders, auto manufactures, high-tech companies and the rest grady trimble is in the thick of it at a metals manufacturing plant in missouri and really has a guess the give and take and the push and pull over this one idea, what is it, grady? reporter: exactly, it's tariffs, liz. this particular manufacturer and hundreds of small manufactures across the country sent a letter to the president xiing him to do

away with those tariffs that president trump imposed in 2018 on steel and aluminum. we are at homeyer precision manufacturing i'm with the president of the company tim wetzel, so what's happened in the last six to eight months in regards to steel and aluminum prices? >> actually its been going on longer than that actually since about two years we've been see ing lead times increase and we've seen costs go up and also the minimum order requirements are going larger, so we're see ing an impact on our business that way. reporter: so the unions who make the steel and the companies that manufacture the steel, they sent a similar letter to the president, basically saying the opposite of what you guys are saying. here is that letter. they say the criticism from companies like yours ignores the fact that the covid-19 pandemic has posed unprecedented , but temporary challenges, to global supply chains in many industries. the same is true for steel. what do you say in response to that? >> i say that if it's a small

percentage of what that impact is compared to what the manufacturing environment as a whole is a lot larger and impacts a lot more companies than that. reporter: it impacts you because you're a smaller company. >> that's correct we employ 50 families just like the shops around the area that employ the same amount of people so it's a large impact. reporter: liz those conversations between the eu and the biden administration have begun, and we will see what happenses far as these tariffs go but there is this two sides to the story that we're seeing from manufactures here, who use the metal, and then those who make the metal elsewhere. liz: right, right, and that is why our viewers are lucky to have a story like this , and you on the case, grady thank you very much. grady trimble. dow up 298 but guess what we are also seeing session highs for the nasdac at the moment. take a look at this mystery chart that we're about to put up on your screen of one company's stellar market debut, and then subsequent fall. could this be one of the most

speculative ipo's of the year, or a stock now for the picking, the ceo of the celebs act start -up behind this chart is here to make this case, want to find out what it is and who it is stay with us, closing bell 28 minutes away the s&p is also at session highs. lately, it's been hard to think about the future. but thinking about the future, is human nature. ♪♪ at edward jones, our 19,000 financial advisors listen and work with you to create personalized investment strategies to help you get back to drafting dreams and building your future. edward jones. it is time for investing to feel individual.

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♪ ♪ ♪ ♪ ♪ ♪ liz: got to get to the ipo of the day, swedish oatmeal producer oatley group it is jumping about 18.5% after speaking 30% in its first minutes of trade on the nasdac this morning. oatley is at $20.12, went as high as 22 and change. the new market entrant did price its ipo at $17 a share last night t high end of the range giving it a valuation of $10 billion, but the plant-based milk maker isn't the only food company trying to entice

environmentally-focused investors. agricultural tech firm app harvest grows tomatoes at a 60- acre indoor farm in kentucky. it recently released its first earnings report since going public via spac, and the sustainably grown tomatoes are available in national grocery store chains such as kroger, meijer, walmart and who knows next so let's find out joining at a fox business exclusive the ceo and founder of app harvest, jonathan webb. great to have you back here. i mean, what does the debut of oatly tell you about investors and consumers taste appear to be shifting. >> agriculture and the food sector as a whole is right for disruption, and i think 20- 30 years from now you'll see a lot of different companies dominating the grocery store aisles and american plates as we're seeing a swift transition and that's natural, it happens overtime. again, sears was the largest

retailer in the world, and now it's amazon and we've already seen in the u.s. no matter what side of the aisle you're on, look at the swift transition and energy in how quickly that's happened, so right now, food and agriculture. we have to do a lot here in the u.s. to build a strong food supply to ensure we have good food security in the u.s. for decades to come, and part of that is going to come with a lot of disruption over the next decade and two decades. liz: well, you and your sustainable farming had an equally-amazing first day of trade back in february, when you appeared right here on this show , and it started to spike, hitting session highs there on that day. talk about the ride these last three months, because the stock is definitely moderated and come off those highs. >> well, our team here is focused on building, we've got a great construction team, we've hired nearly 500 people in the middle of covid. we're very fortunate to be

operating in eastern kentucky, where we have incredible men and women that want to help drive this company with us, and we're not looking at the stock price. i as ceo have tried to say we're going to judge this company on our first decade and second decade and third decade of operations and right now our company is simple and needs to be head-down on execution. we've got our first facility and operations, to put that in perspective it's 2.8 million square feet under glass, almost 50 football fields in size, by the end ofq 4 2022, we'll have five facilities operational, so we're building a lot of big stuff. we're doing it fast and we've got an incredible team that's head-down focused on execution. liz: and you hit your targets on to mate os. the morehead facility that you turned out about 3.8 million pounds of tomatoes during the quarter what is your next effort? i mean, you and i have talked strawberries you were bringing up and again these are so much

healthier are they not because you can actually control and you don't have to worry about pests and things like that, correct? >> yeah, absolutely. so by next year, all five facilities will be on vine crops which include tomatoes, leafy greens and berries, which include strawberries and we're focused on bringing food production back to the u.s.. i've said with you and gotten to know you over a couple of conversations that we've pushed most of our fruit and vegetable production down to mexico. we're going to bring that back to the u.s. and we can do it through a controlled environment , growing indoors, in a climate-controlled facility, so our company here at app harvest is zero focused on bringing production back from mexico here to the u.s. and we're going to be in the grocery aisle growing all of those fruit and vegetables from leafy greens , all the way over to vine crops. liz: well, you know, you've got heavy competition. the players out of mexico, drisc oll's is a huge ber

ry producer but one of your secret weapons is actually martha stuart on your board. she's very much the platinum standard when it comes to these things. you've got to tell me how you're harnessing martha and what she does and make your case to a viewing audience that is very investment-focused. why take a chance on the stock when it had been much higher than $14 a share? >> well i'm not someone who invests on wall street. i'm focused on building stuff but i guess when the stocks down it's always a good time to buy, right? so but martha and others have dedicated, put their reputation, storied careers into this company, because and i've spent a lot of time with martha, she's been here in kentucky with me a lot, i'll be up with here shortly in the next month or so we all see the problems, which is we have a delicate fragile food system, and we take for granted that we can go and we can get good healthy food and put it on our plate at a reasonable price and martha

wanted to join a controlled environment agriculture company and we were fortunate she elected to join our board and part of it is the problems are so big. we need 70% more food by 2050, some have said we need two planet earth's to grow enough food to meet the demands of 2050 we use 90% less water than open field agriculture, but you get 30 times yield per-acre. we don't use the harsh chemical pesticides and something i'm incredibly proud of we pay our employees a living wage and everyone has full healthcare. this is what agriculture for the future should be and we can do it right now, it's going to take a lot of leadership from a lot of levels and we're fortunate to have martha stuart actively involved with us at app harvest. liz: please come back. jonathan webb of app harvest disrupting harvesting, and farming, it's amazing we love following this story, thank you.

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with virgin galactic, richard branson's rocket-maker throttl ing higher right now by 15% after announcing the may 22 date, as the next test flight for its space ship to vessel a series of setbacks in its test flight program cratered the confidence recently in investors minds but shares of the space tourism firm while down 36% since march 31, are scratching back about half of that. a little under half, space stands at $19.90 into the close, virgin galactic facing big competition from jeff bezos' rocket rival blue origin. an online ticket auction that it held on its maiden voyage slated for july 20 started really heat ing up this week. the highest offer right now for one of the six seats available on the new shepherd spacecraft, an out of this world $2.8 million. the auction is set to last until june 10 with a final live round

set for june 12. that will not be me. not interested, don't have the money. ceo succession talks swirling around the top banks in the world this week, specifically jpmorgan and morgan stanley. jamie dimon and james gorman are teeing up their next in line but all is quiet at bank of america. ceo brian moinahan not announcing just yet. charlie? charlie: what stands out here, liz, is that this is literally the only bank that has not announced some sort of a succession plan or hasn't had a succession. we should point out that david solemon, ceo of goldman sachs relatively new in the job. the ceo of citigroup, frazier, relatively new to the job, so you don't really need succession plans there. they are new to the job. mike corbett stepped down last year. not so for bank of america, and

as you just said, jamie dimon, jpmorgan chase announced, you know, the tentative outlines of a succession plan, same with james gorman, to senior executives and by the way these plans often change, people leave it's a long time before these guys retire. jamie dimon is 65 it's unclear how long he will stay i think he's in the middle of his contract still but one place, which does not have it and it's very odd and is sticking out like a sore thumb and i was alerted by this , it kind of went over my head, by investors, by people who buy the stock, of bac, is that brian moinahan, whose been there for 13 years and done a pretty good job if you look at shares over the last 11 years bank of america felt pretty close to penny stock territory after the financial crisis and like a year after the financial crisis, and needed a cash infusion from your pal, warren buffett, saved the stock from penny stock territory and

maybe even a run on the bank, so it went from about $6 to $7 a share back then in 2011 to where it is today, $40 a share. you've done a decent job stabilizing the place, but let me tell you this. liz, you always need a succession plan. i know people don't like it, they say it sets off rivalries and truncates the company into two warring factions if you name two people as your parents, but it's something happens to the ceo, you need somebody or you need some sort of broad management structure there to step in and you don't really have that here. theoretically tom montag, who runs the debt desk probably could step in but you know he was just an object of that scathing story in the new york times about his management style , so he's obviously not going to get the ceo job long term. who knows how long he stays with the company. it's just this is sticking out

like a sore thumb and i think investors are starting to notice so now the question is will they act? my guess is not long after this report, we're going to hear something about a succession plan at bank of america, because it is sticking out like a sore thumb. again, jamie dimon has it, the other one has it but morgan stanley, citigroup just had their new ceo, david solemn is in charge and this guy has been here he's 61 years old he's going to retire at some point pretty soon probably and as the whole thing with jamie dimon shows these people do get sick as they get older jamie dimon has been hospitalized at least twice. liz: a lot of these guys it's an ego thing. they don't want to name a successor. they want to go out like the big stars that they are. charlie: you don't want to name me as your successor, right? liz: [laughter] charlie: someone said no. liz: you'd be the last one. i don't want our viewers flooding away. charlie thank you very much. charlie: that be the kiss of death let me tell you.

liz: [laughter] all right, wise guy here come the robots worker shortages have restaurants you've heard about this right? we've done stories on this , turning to automation but our countdown closer says robots are also the key to a working portfolio and profits. plus, stick around at the top of the hour today, larry kudlow talking to senate republican leader mitch mcconnell 4:00 p.m. only on fox business. ♪ ♪ it's the biggest thing that ever happened to small. lease the gla 250 suv for just $399 a month at your local mercedes-benz dealer.

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♪ ♪ we made usaa insurance for veterans like martin. when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa ♪. liz: okay, we got to bring you luminar technology, the ticker sin bowl laser. they make lidar, for autonomous vehicles. this is climbing about six minutes ago it was up 3%. then five. send six, then seven. now if we can show laser at the

moment up 8% after being down much of the session. we're still hunting for news. this has been a superhot company that has gone public recently in the past six months or so if i recall correctly. we're watching this very closely. they were on the show last week, right, brad? they're striking deals right and left not just for cars but autonomous airplanes and helicopters. they have a deal with airbus. we'll be watching luminar. but from luminar autonomous cars and technologies to robots. the technology will step in when humans cannot or will not. bill, give us a the space and we do have a labor shortage, at least now companies in fast-food are turning to robotics. >> there is a lot of names to look at. the under appreciated area is robots. investors need to pivot where the growth is coming.

automation is roaring back. you saw it with -- a large industrial manufacturer, just reported their numbers, growth up 68% year-over-year. the orders are up 44%. within our index, the robo global index there is an etf that captures it we have a lot of solid companies in the space that have solid earnings, in most cases not stretched valuations. not as exposed as the rest of the tech sector is due to higher rates and higher inflation. we have several times we're pretty excited about that fall under the radar screen and happy to talk about them. liz: you got brooks automation, you've got teledine, flir systems. some of these are not under appreciated. brooks is up 130%. are you still in. >> most of these companies, brooks, teledine, teradyne,

they're off maybe 10 to 15% off the highs like other areas are off 30 to 50%. brooks we love it. put up a solid quarter. 30% growth. [closing bell rings] >> [inaudible]. we think there is a lot of growth there coming for years. liz: okay. that will do it for us. thanks, bill studebaker. we end in the green. ♪. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. get ready, folks, uncle sam wants you. the white house and the treasury gleefully announcing today new tax enforcement plans that would double the number of irs employees and require banks, payment services and cryptocurrency exchanges to provide the government more information about account flows. get it? account flows. what does that mean?