in the phase and the hub once again a great quarter and williams-sonoma has been a really great recovery trade and technically the chart was very strong as well. charles: fundamentals and technical combined cannot beat them, i like those, thank you so much i always appreciated. were drifting higher as i headed over to my colleague liz claman. liz: the dow just turn negative a few minutes ago is not the greatest celebration of 125th anniversary of the dow jones, 125 years, either way the s&p and the nasdaq arsine gains the nasdaq showing signs of life, 84 points, sm p better by six, one of the top thank you ceos in the nation is worried, j.p. morgan

chase jamie dimon saying he thinks inflation will go considerably higher and that's not all, that is not all that came at him we will have the fireworks and coming up the bankers at today's senate hearing, ford stock is seen an unusual spike as we head into the 59 minutes of trade the welcome jolt to the upside coming on a major headline ford wants to be 40% all electric by the end of the decade, ford ceo is here to explain how he thinks he can do it in the middle of a global chip shortage that said the company the hardest. in the midst of the worker shortage, job hunters flocked to make the public debut visit recruiter ceo is here not only to see how stocks will close on the first of trade, that is going to happen but one national chain is offering prospective employees of free iphone if they sign on the dotted line zip recruiter ceo is going to tell

us how we see it's playing out. could beach body be the peloton killer, ceo karl dyke where is here on his on-demand bike and how he thinks the current at-home workout. the breaking news bubble inflation some of the hot fireworks thrown at the leaders of the biggest bank in the nation today of the ceo j.p. morgan chase, citi, bank of america and wells fargo and morgan stanley testify before the senate banking committee this is the first of two days of hearings, the house gets a shot at the bankers tomorrow and when we say shots we mean it senators hit on the hot button issues of the market economy recovers from the coronavirus pandemic, arguably the biggest moment came when democratic senator liz warren of massachusetts went particular hard after j.p. morgan chase ceo jamie dimon over his company's handling of overdraft charges during the

pandemic. listen. >> you are the star of the overdraft show do you know how much j.p. morgan's profit would've been a 2020 if you had followed the recommendation of the regulators and waived overdraft fees to help struggling consumers, in other words without the overdraft money would your bank have been in financial trouble? >> we waive the fees for customers upon request if they were under stress because of coping. >> i appreciate that you want to dodge the question, do you know how much your profits would've been if you would've waived. >> we waive the fees every time. >> the answer is your profit would've been $27.6 billion, i did the math for you. liz: blake burman live at the white house with more on the fireworks, i suppose it depends

on who was listening but people hit by overdraft fees are probably cheering her on the other he's running a business siding with jamie dimon. >> that was one of the more notable moments of the two to three hour hearing on capitol hill senate banking committee and as you listed six of the biggest bank ceos across the country, another big one was jamie dimon asked about inflation and potentially future spending that is being pushed by the new administration. j.p. morgan ceo saying he believes no doubt about it what happened last year with the government and intervention stop, a possible depression but this was his take on the idea of continued spending, potentially by the trillions of dollars, listen. >> now you're talking about unprecedented continued fiscal and monetary policy on autopilot, the good news were gonna have a very strong economy and were gonna have it this year going to next year, maybe 2023 as all the spending takes place

but yes it will raise inflation, there is nothing wrong with 1.6%, i would expect it to go and higher than that hopefully it will not be out of whack and the federal reserve will be able to tamp it down. >> dimon went on to say if there is continued spending it should not be wasteful because he said that would lead to more inflation less productivity and slower growth, over at the white house the principal deputy secretary made her first appearance at the briefing room podium and she responded and asked about the diving comments and this is her response. >> this is a president who understands making sure that we are not wasteful in making sure when we think about when he was a vice president he overlooked the stimulus recovery package back then, he made sure there was no corruption and no waste, he understands how this all works and he as a team will be on top of this as well.

>> the white house is looking into spending $4 trillion as well in the upcoming months. as far as the ceo, bank ceos, they are back at it again tomorrow another virtual hearing, the house financial services committee is who they will appear before. liz: very interesting, the big banks of the pandemic are not unchanged, we will fix that board in just a second period thank you very much, folks we have major breaking news that could affect the markets going forward and i mean going forward in the next couple of minutes and maybe that's why the dow is negative, federal reserve vice chair speaking at the brookings institution just said while he's optimistic about the path of the economy he said in fact it is so strong specifically inflation is important and substitute enough that it meets the bar for tapering beginning later this year, tapering meaning scaling

back the big bond purchases that the fed is been doing to lift up and stimulate the economy. will we see a taper tantrum randall says it meets the bar with what were seen the fed insist current inflation from commodity to material is transitory, the markets are not so sure and neither are ceos on the front line, yesterday i asked daniel the belsky, what he has seen regarding price spikes, he said he's incredibly concerned, he seated across the board he does not see importance pro company, he has freight costs that are going really high but let's find out exactly how the markets will interpret the price increases and specifically what randal quarles just said we could see tapering later this year, what do you think? >> i think this is all fed speak, they have a funny way of

talking to us, the fact is where the rubber meets the road where you and i shop, where phil shops and where everybody else shops they've seen inflation everywhere, it's all around us and we hear it from all quarters and it's really a matter of how soon and if and when the fed reacts to it, the fed says one thing in the market tells us something else but the fact is even when the vice chairman's comments maybe they haven't had time to filter through the system but the markets really have not reacted in a negative way, i don't think the message is anything that any of us don't realize or don't expect. liz: that is the thing markets do not believe the fed. i think investors really fully understand that inflation is probably a bit more serious, what do you think i would say conventional wisdom means if prices go up at the wholesale level then you manufacturers

have to raise their prices as long as a consumer pays it doesn't that transit to better earnings? >> it does and there has been some pricing power issues in the past, too much of a bad thing is a good thing, if you get to the point even though your emergence are better but you're losing money because you're losing sales because people stop buying that's where it becomes a problem, especially where teddy shops, i can afford to go there but you know i'm talking about those of the places that i'm concerned about, i think if you look at the big picture on inflation, you been talking about it for months, you been looking at commodity prices you're the one that roll your eyes when they say transitory and that's a real economy, consumer confidence saw a job for the first time in a long time, people are starting to feel the pain of the higher prices when you pull into the gas pump, when you go to the grocery store, the concern with some of the shortages were starting to see shelves that are

not as full as they used to be and people are used to that in this country and that's causing real concern, inflation in part is the psychology to the consumers, you have a real problem. liz: let me give you more headlines if we can put some of these up, thank you very much randal quarles the vice chair of the federal reserve speaking at this moment saying time for discussing rate hikes as far in the future. they are speaking in a way out of not both sides of their mouth that if it's time for tapering why so far off beyond that for hiking rates. >> once again fed speak, it's a language many of us to understand, i'm not sure anybody does, the fed has said they want more inflation so i think it's a case of behalf of what you wish for because i think clearly they have it and they're going to get more of it in the natural

byproduct of that is going to be higher interest rates because at some point they're going to have to put their foot on the break a little bit. perhaps it's not next month, perhaps a year away but clearly the high interest rates have to be in the cards if inflation is in the cards. liz: i think so, great to see you, thank you very much the dow is down ten points, not a huge drop, we have the some moments in the green for the nasdaq and s&p. minutes after ford unveiled all electric f150 last week, 20000 orders came rushing in and then 40000 within 48 hours, is that instant embrace the electrified version of the iconic truck what led to a blockbuster amounts meant by the auto giant, ford ceo jim farley is here were gonna ask where the order tally stands now as the automaker and the stock goes full throttle on the electric ambition, closing

bell ringing and 49 minutes dow jones industrial flogging just a bit we're coming right back you're watching "the claman countdown". ♪

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liz: take a look at ford stock investors are cheering shares after ford's push to charge of the future is announced 8.5% jumping on the company's new 30 billion-dollar plan that aims to have 40% of the u.s. automakers global volume to go all electric by 2030 could a microsized wrench be thrown into ford's ambitious plan a new report from auto forecast that shows ford is been hit the hardest by the global chip shortages five of the top ten equals most impact our ford's with f150 pickup sitting at the top of the list you also have the edge of the transit thrown in there to figure out how ford is going to pull out the ambition stops and get the plans reach let's go straight to the top ford ceo jim farley, welcome to the show you cannot hope from

a better response from your investors from the news today how long has this been in the works and why do you think the market is instantly embracing it. >> immediately in october when i became the ceo and got my team together, the first thing that we did was to put together our ford plus plan were on a new path with a new plan at the company that we've been working on for over six months, this is not new but we have a lot to do it's very exciting for our team. liz: yet this excitement swirling around the unveiling of the f150, the all electric pickup truck with the iconic blue oval you have to tell me the last we heard there were 40000 orders last week, where you are right now. >> i'm happy to report this is just in after a week of orders we have 70000, that is an incredible response, f-series is the most popular vehicle in the united states for decades, for it to go to electric we wanted

to challenge convention not to just make an electric pickup truck, we went to intimate like power your house for three days. liz: wait a minute you have to explain the car itself can power the house for 72 hours? >> yes what we try to do we know the customer really well and they start to ask is can you power my jobsite, get rid of all the diesel generators and then we thought if we could do that for the jobsite why don't we do it for people's houses you can imagine in texas how valuable it would've been to have an f150 lightning so we are bidirectional charging and means you charge a vehicle from your house but when your house goes down, if that happens there's a weather event or something like that you can power your whole house for three days, it makes for great tailgate. [laughter] liz: you know about the tailgating especially for the

cleveland browns we definitely need that. we are halfway through 2021 you have eight and a half years to hit your goal of 40% electrification by 2030, but you're faced right now smack in the middle of the global chip shortage, how are you going to reach that goal tell me your situation regarding the shortage of chips. >> it's a big deal for ford, especially given the renesas fire how to fire in march 19, they rebuilt the facility and back up with the ramp, what we saw in the first quarter is what were going to see in the third quarter in the second half should be a little bit better were not counting on a lot of recovery outside of the first quarter the good news of record profit in the first quarter and offset 200,000 units of lost production our team did a great job a lot of pricing power but we see this issue lingering for quite some time, the good news

is our base business is so much stronger were not losing money in europe we turned around our european operation the new lineup that we've been talking about that is powering our profitability in north america, once we get past this trough of the second quarter looking much better. liz: on top of your another announcement you say you're going to manufacture the battery that will go into the electric vehicles, that seems like a very tall order becoming a battery company as well, talk to me about partnerships and how you're going to do that you must be hiring scientists and engineers. >> it's a big deal were doing two things to vertically integrate as we move into the new world and the ford plus plan reactor vertically integrate we do not want to go through the trip situation with batteries, batteries were doing two things we start our own team to commercialize batteries and manufacturing chain people in the country that is up to speak,

the second thing as you said starting to develop her own battery technology with partners. we announce the mou at ski innovation and we were at the plant last week, really exciting to see the batteries were already producing batteries they will be going into the f150 electric in each transit later this year so these batteries are up and running in their very high quality, we think we have the highest energy density of any battery for any of the vehicle manufacturers. i think really, really good shape. for the f150 in the extended batteries about 300 miles, 0 - 60 in four seconds as the president found out, it is a lot of fun to drive, the marquee is already on sale we've been sold out for five months in europe and north america, that ranges about 300 as well.

liz: i can't let you go without asking you about china you're gangbusters sales up 73% but there's a lot of competition, nio, byob intestinal has a plan as well, how do you get the chinese consumer to say i want a ford overall with these other choices. >> i have one word for our business in china, that is lincoln they've almost doubled our sales and market share we vocalized almost all of her lincoln models in china we have a unique customer satisfaction system called the lincoln way, the chinese consumers are reacting to lincoln and for the last several months lincoln in china have. liz: they like their lincoln's, that is unbelievable you might have the touch, the stock is up 190% year-over-year and up 19% month to date will be watching this incredibly closely i think that's fascinating 70000 orders

of the ford f150 lightning so far keep us posted. thank you. >> can't stop, won't stop mean stock media for in full effect, look on your screen gamestop 14%, amc up 18% new data showing yesterday along the wall street crowd squeeze $754 million out of gamestop and amc short-sellers and clearly the red army going in for the kill once again today, and of course with amc you have your fans of amc tangling with charlie gasparino on twitter all day. all night, charlie, take your vacation, enjoy it. big news for those names beach body getting ready to muscle its way on the street but how do you get people to work out online just as jim's reopen. carl daikeler is here to

dominate the gyms in the online fitness competition from peloton to apple we have 37 minutes before the closing bell rings, call the dell unto down flat but we have crude oil moving higher were about $66 a barrel in the upper market session. ♪

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liz: fox business alert and all out retail shopping spree in today's pop stocks in outlook after a threefold beat on profit estimates, revenue surging as same-store sales as a sporting goods retailer dumped 150% well above analyst and what they were looking for which was a 71% increase shares jumping nearly 16% at this hour on track for a record close after hitting an intraday high earlier in the session, dick's sporting goods stands at $97.57.

team retailers knock it out of the park, abercrombie and fitch after 67% share profit after a 38-cent loss in the quarter. surging online sales, batting in the wind, shares of 6.9%. let's look at urban outfitters while the audit making a game-winning play, catching fire right now nine -- these numbers are big, 51% surge in same-store sales by increased u.s. vaccination rates which sparked the beat on revenue and earnings estimates for the fourth quarter, luxury names getting in on this market action, capri holding this is the one that has a roster jimmy two, michael course, versace blasting packs unsurpassed expectation after block first quarter results, shares of 2% for capri. but nordstrom, into the return pile, shares slumping 6% more

than 10% of session lows than a wider expected loss in the first quarter, the chain blaming price cuts on holiday inventory for the myths. let's end on a happier note, building spirits for homebuilders into the close shares of 3.7% after the top and bottom lines came in on beats fueled by high demand limited supply and low mortgage lights not as low as they have been you have lennar higher bid than 2% and has meeting of as it announce the next earnings call will be on june 3. so it goes, nice moves for the homebuilders and as you sit home the homework coat program has been the quarantine craze showing massive subscriber growth since stay-at-home orders force gyms to close their doors. look at peloton up ten and half

percent, hands-down peloton has been the symbol of this trend soaring 138% year-over-year, workout equipment maker novelist has done better jumping 185% over the year and apple recently launched its own digital fitness offering. here comes the company looking to not only knock pellet and off the spin bike but crush all of the fitness rivals beach body brand-new interactive streaming platform out and bringing subscribers live and on-demand studio classes that you can interact with. the at-home option coming on the heels of a major jump in sales revenue blasting 43% higher since announcing plans to go public there will be a 3 billion-dollar with four start acquisition admit fitness that was announced back in february when that coming to pass, the body build to the top of the fitness chart beach body carl

daikeler live in interactive, make the case that what you brought out, this is going to be more attractive than going back into the gym which is a lot of people doing this week. >> the surveys that we've seen, all the research points to the fact that the digital disruption is here, were all excited to get out of the house, there is a reason that our growth has been so significant not just last year but even in the first quarter as you mentioned we saw a dramatic increase in revenue and subscribers that comes through the experience of getting your workout done first thing in the morning and going about your day so people are said to get outside but excited to get a shotgun there's nothing more convenient to read 87% of the people who went from the gym to the in-home experience have

chosen to keep their in-home experience or have a hybrid of the gym and in-home workouts, this is a disruption that is here to stay and were just getting started. liz: i absolutely agree digitally disruption has been the word of what this pinto because that a lot of things have changed for good but this is a crowded space and you have apple fitness jumping in you are smart to have the three-way merger because that instantly gives you a bike but the bike connected with the beach body isn't out until the merger goes through, when is that going to close. >> we expect the merger to close around the end of the second quarter, the end of june, this is a race we've been running for 22 years this is not something that popped out of nowhere when it be great to work out from

home the reason like p90 x was our first billion-dollar program were followed by insanity, we realized if you create a great experience with content at home and provide people with the nutrition solution so you don't get results from working out yet to do the nutrition too, as we scale that is starts to build a following that's why were the leader in the space with over 2.7 million digital subscribers this is something that is here to stay in the advent and bringing in the connected bike is adding a genre to a platform that is already extremely popular and when can you give me a sense of how the current quarter subscriber numbers are looking at the moment certainly the most recent quarter would look incredible what about the current quarter how is that trendy. >> i'm not allowed to talk out of school or have a cfo knock on the door but i will say, the big

question was the pandemic a blip on the screen or sign of things to come, we had our strongest launch in the history of the country last summer our second strongest launch nearly the same happened in april of this year a cardio dance program with sean t called let's get up and it's been an absolute phenomenon particular because it made people feel good and great to do a dance cardio program in the living some people are comfortable doing that in the gym and is proven to be incredibly popular next we have the largest drop in the member library nine week control freak dropped into the library a week ago and breaking records left and right. for me i know you like to get on the bike and for me if it's not convenient i'm not good to do

the workout. that's why our job creates an interactive platform and we innovate the genre continue to bring it to the next level. liz: carl daikeler of beach body come back when you go public we want to watch that, thank you so much were coming back with zip recruiter ceo on the first day of his public lifting don't go away we have green on the screen.

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liz: will work for iphones this photo sharon twitter showed in illinois mcdonald's which read now hiring free iphone after working six for filling certain work criteria paying workers just a luer them and back to restaurants making things aren't the only ones dangling current,

higher than 10% a very nice run lately let's get the scoop on the hot job market with zip recruiter which went public today by a direct listing $18 a share and traded as high as 21.69, we have it at 15 and a third% to $20.77. you guys have a customer based toward medium and small businesses, welcome to the show what a big day, let's talk about school with the labor landscape because all we hear about his worker shortage. >> the worker shortage is a painful reality for employers let's be very clear to different nearness playing out as the recovery progressives on the employer side they are back for them the economy is open and there showing unprecedented hiring.

they are still proving reluctant to reenter the market and i'm not just talking about the 16 million jobseekers that are unemployed or underemployed i'm talking about millions of people who are currently employed and not just sheltering in place they currently work in currently live but also where they were, you have a phenomenally massive pent-up demand, there is three primary reasons why this is happening people are waiting for the vaccine rollout people are waiting for schools to reopen and people are waiting for the stimulus checks to stop coming there is an extraordinary situation where people are getting paid as as if they went back into the workforce. >> i was just about to ask you where you stand on the argument because people will say it's not that people have different schedules, kids, some kids are not going back to school we need to stay home, i am hearing from

ceos and that's really the people, there in the trenches and the other one saying that i'm making pretty much the same thing. but the free market starts to work where your offering things like iphones and higher salaries, where you see the shortages move. >> it is clearly at the bottom levels of the job market so entry through the liberal position that last were having a really difficult time recruiting challenge and the easiest jobs to fill, it was basically anybody was qualified to work these jobs, younger really interesting dynamic were the track the expectation and it's been flat for many years and suddenly and shut up 26% it's a phenomena that is likely going to be short-lived, i don't know if the solution of employers raising wages or employers

waiting and out one of the two things is going to solve the problem. liz: your stock is were speaking is beginning to climb we have it on the screen you need to make the case we have job search stocks from robert half to recruit all of these names make the case for your stock if these investor viewers can only put their money into one. >> the great thing about zip recruiter you can actually put your money into and were doing something different zip recruiter isn't like a traditional jobsite it's a matchmaker were leveraging the same artificial intelligence use by youtube to show new videos when you look at one of them or instagram to figure out which content but were applying to the job market and what that means if your job seeker we literally carry jobs that you'd be a top ten candidate and make sure you don't miss them. as your employer were curating a list of candidates for you to consider directly recruiting

after you finish posting your job this is a complete transformation on the way the job market works in applying dance technology for the first time since a job market. liz: big day, we have just about 15 minutes left of trade and you're still at 15 plus% will be watching it, thank you so much. the dow just turn positive, amazon buying mgm studios, the price and what they'll really get, stay tuned we'll be right back. ♪ centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;) what makes new salonpas arthritis gel so good for arthritis pain? salonpas contains the most prescribed topical pain relief ingredient. it's clinically proven, reduces inflammation and comes in original prescription strength. salonpas. it's good medicine.

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tony awards are making their triumphant return the september cbs and paramount plus will be joining forces for a four hour long celebration of new york theater industry on sunday september 26 starting with an exclusive lifestream of the award ceremony that will go on paramount plus, followed at 9:0e concert special the tony awards present broadway back, that will air on cbs television network, no one is more excited than viacom cbs shares are popping 3.9% we should look at ticketmaster because they sell a lot of the tickets and the obvious commission, disney's two production have latin and the lion king to return to broadway, it is fun and so is walt disney guess who's ready for the role on the great amazon, learning today officially that ceo jeff

bezos will step down on july 5 as ceo the guy who runs it all and will make way for andy to take the reins of the e-commerce streaming tech go warmer in the news comes on the same day the amazon announced his second largest ever acquisition paying up $8.45 billion for mgm, the movie studio home the classic film such as rocky, james bond and popular tv shows such as handmaid's tale, shark tank, the real housewives catalog, not so much that but i know a lot of people love it, as amazon and subprime video who might be the first to get crushed by the amazon move we turn to lydia who, who is on your list are. >> in terms of the library of catalog i will vouch for myself i'm a real housewives fan so we did catch my attention, the price tag let's talk about that for a moment $8.451 billion analyst told me that amount of

money is not going to make anybody amazon loosely because it's not a huge selling point when it comes amazon's valuation approaching $2 trillion the big deal as part of the ongoing battle in the streaming wars, the question whether the acquisition will help amazon beat out the heavyweights in the category netflix, hulu, disney, apple it was two months ago the amazon prime shocked the deal to thursday, this deal with mgm means that amazon could offer the 200 million prime subscribers in a suspended selection of content one analyst of constellation research pointed out amazon is paying less for the huge library of media that it would have to pay to produce it and when you look at it that way it's a good deal for amazon jim nail a forrester research tells me existing content will not help recruit new viewers the key is what can

amazon do now to produce more material moving forward. watch this. >> what is pretty clear in the streaming space is what drives the view and the popularity of it, by and large is original content, not archival library content, this is been a little hit or miss on. >> that still needs to be approved by regulators but if this goes through the most powerful company will only get bigger, let's take a look at how the shares are doing today on this news. they are up about less than a tenth of 8%, no huge swings today that we are tracking this. liz: this is a classic sell on the news, thank you very much. lydia who, 10-cent stamps on, how about semi conductor, navy ali baba, which one of the asian names should you buy, wait a minute who says you have to buy

one, our countdown closer. has a topic the whole world of opportunity in some of the asian world's biggest stock names because you've got to buy right now. closing bell ringing in seven minutes. the dow down ten points, we're coming right back. ♪ . .

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that's 1958. [voice of male] the chili bowl really has never closed in our history. when the pandemic hit, we had to pivot. and it's been really helpful to keep people updated on google. we wouldn't be here without our wonderful customers. we're really thankful for all of them. [female voices soulfully singing “come on in”] ♪. liz: lately talking specifically about investments market chatter is swirling around this battle of tech versus value stocks, which one should you be in. our "countdown" closer is taking a side in a more worldly way, emerging market value. greg is here strategic partners is about a quarter after billion under management. define a value stock that is international. >> first of all thanks for having me back, liz.

i think it is really important for investors to think about relative valuations. em is trading 12 forward p-e versus our very lofty levels. with vaccine distribution really having been challenging in these emerging asian and latin american countries we think, liz, they might be three to six months behind us in terms of this consumption and spending boom we've seen here over the last few months. >> okay. >> when you think about that happening with growing emerging middle class, despite how beaten down emerging markets have been we think there is opportunity between now and the end of the year. liz: greg, you're saying emerging market value. i don't see 10-cent as a value stock, am i wrong here? or even alibaba. these are high growth, take profits put it back into the growth names are they not? >> no, absolutely and i think what we're suggesting there is

more value in emerging markets than there is in domestic markets especially if you think about things like consumer staples and retail companies and food delivery companies, given the caseload increases that have occurred in the last several months, that begins to wane and lockdowns end. people begin to spend money, we think that whole retail exuberance is going to occur in those foreign economies, especially in developing asia as it has here. liz: before we go i just want to note, you see this reopening play as kind of over? there are people who say the markets will continue their epic run but will you start to see a little energy seep out of that run? >> no. that is a great point, liz. there is a point where the good news is not good news any longer. we are watching inflation trends really carefully. just this past quarter s&p 500 companies mark inflation concerns at a 10-year level high. we hadn't seen that before. so our concern, what investors need to be thinking about as

high as we are right now at what point do we see the fed reactive and not proactive. at what point do we start to see inflation concerns and taxes become headwinds for the markets. [closing bell rings] liz: greg. david: thank you very much. can the dow make it here? s&p closes up eight. have a great day. david: hello, everyone, welcome to "kudlow," i'm david asman in for larry kudlow. two of our top stories today, the biden state department shutting down a trump investigation whether the covid-19 virus originally came out of the wuhan lab. the state department denies shutting down the the inquiry that the team's work ended it quote, continues to work with the interagency on this matter, end quote. fox news learns it was far