matter because you want to see certain things happening in the technicals and andrew is talking about that. for a longer term investor, you want to be looking at company fundamentals and keeping focused on quality companies that have good long term trends that are going to benefit their businesses going forward, and as long as you're continuing to focus on those companies, i think you'll be okay, but you got to have to assess it and you don't want to be making any -- charles: thank you both very much. i've got to hand it over to my colleague now, liz claman. we're holding in for now though, liz that's the good news. ashley: well thank you, charles liz is off today but thank you, because that is a real honor to be called liz claman. all right, charles thank you. wall street in rally mode after weekly jobless claims fell to a new pandemic low that'sed good news and that got the s&p 500 popping into record territory and the dow on pace to snap a three-day losing streak the dow up 85 points, but the original meme stock, gamestop, under fire

after revealing the sec is sniffing around for abnormalities in the trading of its stock, even as the company plans to sell more, and of course, we'll have the floor show and charlie gasparino all here to analyze the very latest developments in that, meantime worker shortage, the ceo of citrix will be here to reveal results of a new survey about what millennials want in a job. maybe not the office, so does that mean the virtual workplace is here to stay? we'll get into it. plus the marquette ceo is here the day after his payment processing company made its debut on the nasdaq. it has been a wild run for mark etta, and president joe biden practicing vaccine diplomacy with british prime minister boris johnson ahead of the g 7 summit we will have the very latest on the president 's first full day

on his first overseas visit. but first, this afternoon, that original meme stock favorite game stock, we've talked about it so much taking a hit today as you can see down 26% after the gaming retailer revealed the sec is investigating trading of its stock, along of course with other meme stocks this according to a recent filing. there are also reports that the retailer may offer another 5 million shares to investors, and seeing interest, well this , of course as gamestop just announced former amazon executives matt furlong as its new ceo and cfo respectively. those two are just the latest in the number of new executives that gamestop has hired to turnaround its business. what a story. i want to bring in our traders if i can. steven guilfoyle better known as sarge and phil flynn, better known as phil.

should investors we getting out of their names and out of these meme names or should we not touch it with a 10-foot pole? is this a good investment let me begin with sarge. what do you say? >> well it's not a good investment but it is a robust trading environment. i've been in and out of these names myself all day long. i think the key here, well, the 5 million share registration that's a big deal but the key here is the sec probe, not into gamestop necessarily, it's not going to hurt that company but it's a market structure and that's huge. they need to look into payment for order flow. i think that screws price discovery and what could possibly be more defeat full than a dark pool run by a big investment bank and they have to look into rebate paid by the exchanges themselves. we have been praying from the sec to look at the market structure for 10 years and i'm glad somebody finally took the reigns. ashley: very interesting, sarge. phil, listen is the sec probes gamestop stock trades other

popular meme stock amc revealed insiders sold another 4 million in shares amid its recent rally. what does the sec probe mean for the meme stock trade to follow-up on what sarge just said. >> well it shouldn't be a surprise, right? the sec was getting a lot of pressure from washington all screaming "let's look into this " and i think the sec has to be a little bit careful here because it's not the company's fault that they all of a sudden became popular on reddit and it's not the trader's fault that they see something in this company that maybe other people don't, and sometimes in the capitalist ic system, it's crazy stuff like this , that actually turns out to be a good thing for the overall economy. let's take amc, for example. amc might have survived they might not have survived but we know it's because of the pandemic, they didn't have a chance, right?

they were going to probably go bankrupt. you get these guys bringing this business back to life and now they are getting an infusion of capital which is the flip side of what would happen, you know, a few years ago. a few years ago the short seller s are like the walters, okay we're going to bring these guys down and there's a lot of companies in the past that blame the short sellers for their dem mize saying hey, we could have turned this business around , if they didn't turn on us, so it's going to be an interesting dynamic and i think it's actually good for the market overall and good for the economy, but let's face it. these stocks are going to be very speculative and when you're right you'll be paid. if you're wrong you better watch out. ashley: the very meaning of volatility. sarge, while i have you, got to talk about inflation. consumer prices for may up 5% year-over-year, fastest pace in nearly 13 years. we know what the fed has said, are they underestimating in your opinion the inflation story and will it be, in fact, transitory?

>> i think some of the inflation will be more structural than they think, but fortunately, we're still paying 1.48% of whatever it is for our 10 year so you are going to have foreign interest in our treasury markets. the fed can probably pullback on accommodation, they shouldn't buy any mortgage backed securities and probably pullback on buying treasuries especially at the long end because we know in places like japan there's a negative gdp and a negative cpi, and a rate of maybe 0.02% on their 10 year? there are investors around the world that will buy our treasury debt. ashley: wow that's true. the dreaded stagflation. very quickly, phil. i'm out of time but i want to have you weigh in on this. do the fed or will the fed, in your opinion, act soon enough? >> i don't think so. i think there's some things that they aren't going to be able to stop when it comes to inflation so it's here to stay, guys it's

not transitory in many cases. ashley: very good, great stuff, phil flynn, stephen guilfoyle, gentlemen great to see you both this afternoon, thank you very much. >> thank you. ashley: breaking news, the wall street journal is reporting the u.s. is suspending j & j's covid-19 vaccine shipments as states face a surplus of expiring doses, you take a look at the stock not hurting it at all at this point up three- quarters of a percent for j & j this as president biden marked his first visit with a british leader on foreign soil. he and the first lady met today with uk prime minister boris johnson in beautiful st. iver cornwall in the uk. revisiting history, actually is the two leaders signed an updated version of the atlantic charter that was last signed by president roosevelt and prime minister winston churchill, all the way back in 1941. the president went on to deliver remarks on the covid-19

vaccination program and efforts to defeat the global pandemic, and there he is, talking with boris johnson. joining us now live from the white house, will the other developments is blake burman. blake? reporter: ashley first trip on foreign soil, the president announcing an initiative from the united states that will try to help the world combat the covid-19 pandemic. the white house announcing that what they will be doing going forward the u.s. government really going forward a donation of some 500 million pfizer doses , to 92 countries all around the world which the white house says will be for low and lower middle income countries. they also singled out the african union. 200 million of those doses will be distributed by the end of the year the remaining 300 million by about this time next year. the white house also noting that those doses will come from plants within massachusetts, michigan, missouri and kansas, they say, that means jobs here at home. here was the president. >> america will be the arsenal

of vaccines and our fight against covid-19. just as america was the arsenal of democracy during world war ii reporter: president biden was also joined during this announcement by the pfizer ceo who said his company might actually have an oral covid pill ready for approval by fall. >> thanks to the ingenuity of so many scientists, and the dedication of so many manufacturing workers, today, we can say clearly the light at the end of the tunnel, but we still have work to do. reporter: ashley, during this first meeting between president biden and the british prime minister boris johnson, the u.s. and uk also announced today an update to the atlantic charter which was signed after world war ii, the new charter between the u.s. and the uk touches upon areas like trade, security, and climate change. ashley? ashley: all right, blake burman at the white house, blake thank you very much.

we appreciate that. moving on, shopify adding a firm 's buy now and pay later service for its u.s. customers we'll take a look at spotify shares as you can see , up just 1%, the firm up more than 5%, and the fintech revolution not stopping there, coming up next we'll talk to the ceo of marketa about his company's all-star market debut and the a -list team driving his now $17 billion payments firm, and as we head to the break, let's take a look at the big board. the dow up 71 points. the "claman countdown" coming right back. liberty mutual customizes car insurance so you only pay for what you need. how much money can liberty mutual save you?

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ashley: shares of first dibbs .com right now as you can see up 34% in their nasdaq debut today not bad coming in at 26.80 or thereabouts the online marketplace raising about $115 million in its ipo and speaking of public offerings, it's the day after for marketa after rising 13% in its trading debut on the nasdaq,

yesterday, essentially flat, still hanging in there at $30.40 now, the fintech is a business- to-business card and payment processing company, as of the end of march, marketa issued a mere 320 million cards, customers include a who's who of silicon valley, uber, doordash, affirm, and payments company square, just to name a few, joining us now to talk about it all is ceo jason gardner. jason, congratulations. it's the day after the big day but i have to ask you, the company is 11 years old, why now, why go public after 11 year >> well thank you for having me , it was certainly a tremendous tremendous day yesterday. we build very complex technology , and our customers trust us either to support their core business or be their core business and actually takes a long time to build and earn that trust, and now is another step in our journey.

ashley: what exactly, can you explain to our viewers what your company does. >> sure, marqeta is a platform for companies that want to build card products like visa and mastercard cards they can be physical plastic cards, virtual cards, they can be tokenized cards to fit into apple pay or google pay or samsung pay, so for companies like doordash, their dashers, when buying food for orders you place reduces fraud down to near zero at the point of sale just allows them to scale in the u.s. , canada, australia, we power companies like square, like klarna who i heard you speaking about when you buy now and pay later there's a number of products that klarna builds on our platform so when consumers are buying something at the point of sale we help in the background to authorize those transactions. ashley: you gained your company gained a lot of momentum during the pandemic as the e-commerce world took off. are you concerned that that momentum could ease off as we

kind of get back to normal? >> a lot of the companies that we powered were essential services like doordash and uber eats and instacart and buy now pay later and square. there's a number of verticals that we work in that really became essential services so their success was our success. i am in new york for the ipo, which happened yesterday, on the nasdaq. its been great. i've actually eaten out three times, four times now and i have really enjoyed it. also, i continue to order through doordash and instacart and uber eats and grubhub whether it's here or back home in oakland. i think that's going to continue i think culturally, we found that we want to continue doing that, so expect certainly these services to continue and our support. ashley: you earn your money through what is called inter change fees. are you concerned that that amount could get squeezed a

little? you are in a very competitive field. >> we are in a competitive field, and, we have built a system, we refer to this as modern card issuing. we are the market leader, 10 years of experience, it goes 10 years of expertise and that's even hard for engineers reverse engineer. interchange is what the merchant actually pays at the point of sale from two to 3% of the transaction. that is how we make our money. that sustains a lot of companies around the world but also sustains the networks like visa and mastercard, the banks such as small community banks, also creates a number of services and that really, we all benefit from we're the squeeze that the markets been talking about something called the durbin amendment, especially here in the united states. the durbin amendment was enacted in 2010 to protect small community banks and consumers. we have not seen anything that would cause interchange to be squeezed. in fact, visa and mastercard

were increasing interchange but obviously put those plans on hold because of the pandemic and i think that was the right thing to do. ashley: and jason, i wanted to mention this. you do operate outside of the u.s.. what kind of potential does that present and how advanced are these payment systems around the globe? >> so today, we process $60 billion in volume in the u.s.. it's $6.7 trillion of carded volume in the u.s. , $30 trillion globally so as you can imagine, the opportunity outside the united states is tremendous and only 2% of our revenue is derived from interchange outside the u.s. , and interesting fact is that interchange is far more regulated and far lower than we experienced in the united states , so we derive actually revenue through other types of services and methods. there are no real marqeta's

outside of the united states where we're based but we do operate in 36 countries and growing, so we look to power a number of companies around the world like we do today and we expect that to grow. ashley: all right, well i have to leave it there jason gardner, ceo of marqeta, thank you for joining us and keep enjoying those new york restaurants, and good luck with the comfort of the states. thank you. we appreciate it. let's talk about other places where you can go for casinos live entertainment, the part e scene of course we'reabout sprin las vegas. why sin city suburbs are attracting more homeowners than ever before, we're headed to the silver state for a live report, got to love the fountain display , look at that, fantastic let's check the s&p 500 as we head to the breakup 20 points we are looking at a record close, to finish up just slightly more than 13 points on the s&p for a

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ashley: fox business alert, cign et shining bright like a diamond in today's pop stock, the same-store sales with the jewelry retailer jumping more than 106% in the first quarter fueling beats on both earnings and revenue the zales parent also raising its full year forecast all good, and up as much as 22%, at session highs today right now still up 14% at nearly $70 per share. facing the music as some of the biggest names in the industry file a $200 million lawsuit against the gaming platform. universal music publishing big machine records and others accusing of using unlicensed music in its games via its virtual boom box feature and right now not affected by all of

this still up a quarter of a percent today. tesla officially going to plaid today. the elon musk's ev giant set to live stream the first delivery of its high performance model s sedan. the event kicks off 7:00 p.m. pacific 10 p.m. eastern from tesla's freemont hub out in california. the ev maker's answer to luxury rivals including porsche, mercedes has a range of 390 miles per-charge, and the price, a mere $129, 990 before potential gas and ev credit-related savings hopefully there's a lot of those tesla right now up 1.25% at $609 service now getting the ultimate god golden ticket to the top of the s&p, goldman sachs adding the cloud computing software provider to its conviction buy list, that stock certainly looking like a good egg right now, [laughter] i'm sorry i did not write that,

it's up 5% at $489 and there's will y wonka on the right hand side but look at restoration hardware that stock up 15.5% after furnishing yes a big win for investors pandemic home make over boost still in play for the furniture retailer who raised its full year forecast after topping first quarter profit and sales estimates that stock again up $96 in today's session. rh. well the housing industry, one of the clear winners in the pandemic we know that and nowhere is that more apparent than in las vegas, where a lack of inventory and oh, yes, the flight from high tax states like california have sent home prices surging to all-time highs continuing vegas vacation, edward lawrence joins us why so many home buyers are taking their chances on vegas. edward? reporter: yeah, and in fact, prices are up year-over-year 29%

in las vegas. i'm in the most expensive listing in las vegas, this home is 15,000 square feet, it's $28 million, and you're looking at two of the infinite pools we've actually opened up the wall here that blocks off the inside and the outside because it is a beautiful day in las vegas. there's an area out front with a little patio that has the third infinite pool and on the other side of that you could see the las vegas strip. now, blue heron is the one that built this and designed this house and will also furnish it for you and these high end homes are selling here in the las vegas area. realtor robin yates says the las vegas valley homes are selling within three months after they go on sale, and that is at any price point. starter homes and she also says she does not believe the people moving into this area, the politics will change the tax structure at all. listen. >> the reason they're coming

here is probably because, you know, they want to be in an environment where there is no tax, no state income tax, and the infrastructure here in las vegas is really fantastic. they tend to build roads before there's even housing or gas stations. i think they will get on the bandwagon. reporter: and some people are coming here as a second home, other folks are saying that they can do their job from anywhere the companies allowing them to do that so they are doing their social distancing or whatnot from las vegas or they just want more space with a more affordable home. back to you, ashley? ashley: do you know what edward, you look very much at home there i think we found the new fox business vegas bureau so settle in, going to be lovely, [laughter] edward lawrence great stuff. reporter: let's call the boss and make it happen. ashley: we're on it, edward. we can dream. thank you so much. kroger, by the way, hanging a help wanted sign for 10,000

workers amid a massive labor shortage across the u.s.. we are live at the first-ever hybrid job fair for the grocery store giant. plus the citrix ceo will be here to reveal new survey results and what it will take to get gen z and millennials back to work it's a first on fox business, the closing bell ring ing in just about 30 minutes from now the dow, s&p and nasdaq all in the green. we're coming right back. (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you, your dreams, and the way you care for those you love. so you can live your life. that's life well planned.

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ashley: from applebee's offering free food during interviews to amazon and mcdonald's raising wages companies are hyping you're their hiring to push employees back to work. well, today, supermarket chain kroger is hosting a nationwide hiring event and adding multiple incentives, all in an attempt to fill 10,000 open jobs, and put employees back in the aisles.

grady trimble joins us live from a kroger-owned grocery store in chicago, asking whether new corporate incentives are just enough to end the worker shortage. grady? reporter: we shall see , ashley. they are conducting interviews inside stores like kroger-owned mariano's, ralph's, the kroger name brand stores they are also doing interviews remotely. you don't even have to go into a store to get a job. they are trying to hire, as you said, 10,000 workers across manufacture, retail, e-commerce, you name it, they need to fill positions, and kroger is highlighting the reasons they say people should work for them, they point out that their wage is an average of 15.50 an hour, they are investing $350 million to try to bump that up to $16 an hour. they are also offering some other benefits including tuition reimbursement up to $21,000 and this is a new one, they are offering streaming service subscriptions. now, kroger is not the only

national chain that's hiring right now. far from it, in fact, walmart is looking to add associates at stores and distribution centers across the country. amazon wants to hire 75,000 workers and to do that, they are offering $17 an hour and $1,000 signing bonuses to some candidates. now despite the great length that these companies are going to try to bring on workers, labor secretary marty walsh says that he does not believe that those enhanced unemployment benefits are a major contributing factor to the labor shortage right now. >> i don't believe that $300 is keeping the entire 8 million people out of the workforce. i don't believe that we're paying people not to work. i think we're paying people, we're trying to support people's livelihood during a pandemic. reporter: kroger, amazon, walmart, they are competing with businesses all over the country to try to fill the more than 9 million job openings right now ashley, i was at a manufacturing

plant yesterday and the owner of that plant said now is the time to apply for a job that you might not actually be qualified for , because employers are so desperate to hire people, you might just get it and start out on a new career path and maybe skip the stepping stones that ordinarily, you would have had to go through, so some good advice there. ashley: yeah, very good advice. it's amazing isn't it? food, $1,000, a streaming service, whatever it takes but as you say, we'll have to wait and see whether it actually works or not, grady trimble, in what looks like a beautiful day in chicago. grady thank you very much. well, from a nationwide job fair , to working from home forever? amazon today announcing it will be allowing corporate workers a hybrid schedule, calling for three days a week in the office and the rest of the week at home. workers will also be offered, by the way, the opportunity to work repotentially from anywhere in the u.s. for up to four weeks a year. how things have changed, and according to new data work-from-home is exactly what

millennials want. software company citrix ran a study on what digital workers or young, educated and tech-savvy employees what they want in an office environment. interesting stuff and the answer maybe no office at all. citrix finding that 90% of digital employees do not want to come back to the office full- time, and over half would like to work-from-home indefinitely. now, to citrix ceo and president david henschel. david thanks for joining us. is that the main takeaway from this , that the days of going to the office everyday maybe over. >> i think the takeaway, primarily, is that over the last year or so, we've had this great work-from-home experiment as brought on by the pandemic and in many cases, its proven to be great. its proven to increase productivity in a lot of areas, people are more engaged with their employers, and it's showing a lot of benefits of

trying to mask the idea of a physical location to the type of work that people are trying to accomplish, so i think this idea of work is really changed forever, and so many companies, as you pointed out, are looking at a hybrid work model as really the future mostly because it works but also because it allows you to engage in an entirely different set of workers whether those are the born digital generation or frankly just people in all parts of the world that might not be physically able to come into your office, wherever that happens to be. ashley: so how do we get young workers to actually apply for jobs, if they are getting extended federal benefits and they don't want to go to an office is that a big part of the problem as we look at the worker shortage right now? >> no, i think the worker shortage is more of just we're lacking skilled workers and we're certainly seeing this across the tech field. attrition has gone up in many areas, we're just having a hard time filling the as you pointed out the millions of job openings that are out there.

i think the key going forward is people need a set of tools to be successful and that comes across the technology infrastructure, citrix, for example, we provide this thing called a digital work space which gives you access to all of your information, your applications, the tools that you need to be productive, the security that employers require to make sure they are protecting their corporate and personal assets, and then a set of tools to allow them to collaborate. work better together, to make it easier, because what we're finding, frankly, is that people just want the space to succeed. they want the ability to do important creative work, but they also want that flexibility not to be told it has to be done inside of an office building or a model that frankly worked really well decades ago but today and we've proven over the last year, is probably not as effective as many of us believed going into it. ashley: well that's interesting because i was going to ask you, is there no substitute for face to face meetings and does it hurt the company culture, which is harder to impress on the

workers when they are spread out so much. >> yeah, i think personally, we have found the limits of completely remote working, just the same way we have for forcing people back into an office environment. finding this right balance is going to be a function of individual preference, but also of company culture. there are certain things that are just done way better in person, collaboration, creativity sometimes, innovation , et cetera, but not the type of individual work that most people spend their days doing. in pre-pandemic one of the lesser-known or lesser- appreciated facts is that the office environment just really wasn't that conducive to getting work done. the average person had two two and a half hours per day of un interrupted work time and one of the reasons why as we moved into the pandemic you had roughly 45% of the workforce working from home and productivity took off but more importantly this level of engagement that individuals feel with their companies has soared.

it was a real epidemic pre pandemic and now has just become one of those things that's brought people closer to theirdt right balance going forward i think is going to be the critical at are attribute. ashley: it's fascinating stuff it really is and it'll be interesting to see what all of this looks like five to 10 years from now david henshallh ceo of citrix, thank you so much great stuff. >> thank you for having me. ashley: thank you, all right we'll move on meme stocks, officially on the radar of wall street's top cop but can the sec really do anything to the company swept up in the reddit rebellion? charlie gasparino standing by and he's been on this story from the beginning on who may pay the ultimate price and the meme stock fallout. charlie will break it, next but we will take a look at the big board if we can as we head to the break. the dow losing some momentum, still up 26 points, the "claman countdown", coming right back.

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ashley: the world's largest meat supplier by sales admitting it is the latest ransomware victim to pay up to hackers in the form of the original cryptocurrency. jbs revealing it paid $11 million worth of bitcoin to the "criminals" responsible for last week's attack that knocked off line those plants responsible for 20% of the u.s.' meat supply. jbs's ceo saying the decision was the right one for his customers. the u.s. government hasslinged eastern european criminal

organization evil to the attack taking a look at the cryptocurrencies as we talk about them right now, as you can see all moving down, bitcoin down half a percent, ethererum down 5% and the litecoin is down 3.5% not a good day for the cryptos. gamestop coming off session lows , but clearly, buckling under the sec investigation, down about 30% right now, but could the meme stocks crowds favorite trading platform robinhood actually be the one to lose the game in the end? that's the question and here with more, charlie gasparino. what do you say, charlie? charlie: ashley, i would read you some of my tweets i'm getting from the amc and the memes but forget about like, you know, being at a bar. forget about being here. they're not suitable for reading outloud at a bar. but from my point of view if you follow me go to my page and see how much love they have for

me. listen, i'm only reporting what i know, and what i'm hearing and what i see in the fundamentals of the stock, and there's a couple things going on here we should look at price action of gamestop and amc, the two meme stocks that are not doing well financially, but had been trading like the next amazon or apple. they are off dramatically today. now why are they off dramatically? if you look at the gamestop filing yesterday, prospectus, where they laid out they are probably going to raise money and other issues in there they talk about an sec investigation. now the sec investigation the way it was described was very interesting. we should point out these companies have been very careful about their public statements both not trying to hype the stock, adam aron and amc has gone out of its way basic had it to say the stock is overvalued guys even as we're selling it, so remember that. what gamestop said in its, this

is why amc is off as well, is that we received word from the sec that there's an investigation, we're handing over documents. we don't believe the investigation is material to our business, so it looks like they're not investigating them, per se, and it's related to the trading of securities like ours, and other similar securities, so it basically confirms, ashley, what we've been reporting now for the last two weeks, that the sec has launched a fairly significant investigation into the possible manipulation of these shares that are trading well-above, you know, sort of rational expectations and even the companies are saying is irrational so remember, the companies are saying it, and you know, whose doing it? how it's doing it? how it's going about i think these are very difficult cases to prove. i mean, i guess you could try to link up message board hype, saying stuff is, you know, people lying about the potential of the future of the company or knowingly lying with buys of the stock, and then selling it

at some other point. think about how hard it is. you've got to prove it's a lie. you got to find the person, prove that it's just not irrational exuberance, you know, you can see what i'm saying it's very difficult, but clearly, the market, i think what the market is sensing in these stocks is another story we've been writing, that the sec might be putting some speed bumps along the way here, you know, robinhood has an ipo. the sec is reviewing the perspec tus on the ipo they are probably going to let them do the ipo and we've been reporting it will happen later this summer but they may force them to do something along the lines of investor education, speed bumps whenever you do a big trade in some stock. there maybe something there, and i think that's what's trading today, in some of these stocks, that you know, the sec is going to put in some measures to deflate the irrational exuberance so to speak and robinhood maybe the modus opera

ndi. and they have to get the sec comfortable with it. if the sec is not comfortable it's hard to do it and they probably can't stop them but if the sec says we would like more investor education, we want more disclosure, that could force robinhood to take sort of affirmative steps, maybe a stop before a trade, before you do a trade. this stock is highly volatile. maybe some warning, something, which slows this down, so, there's stuff going on here. clearly -- ashley: there is a lot of stuff and a lot of chapters to be written in this soap opera, as the memes turn, i think is what we're going to call it. charlie: [laughter] ashley: charlie thank you so much as always the story that keeps on giving thanks so much appreciate it. all right, chevron helping pump the dow higher today as oil holds steady above $70 per barrel. exxon-mobile also moving higher, but which one should you pick to

energize your portfolio? today's countdown closer has the answer, next. the closing bell ringing in just about seven minutes from now. the dow up 34. we'll be right back. there's interest you accrue, and interests you pursue. plans for the long term, and plans for a long weekend. . . you can get the financial clarity you need, and live a life rich in meaning, and gratitude. to learn more, text thrive to 444555, or visit thrivent.com.

♪. ashley: the closing bell rings in four minutes. the s&p 500 still holding on, up 18 points. we could see its first record by the way close for the s&p since may 7th as the dow looks to snap its three-day losing streak. the dow hanging up just nine points. all right, now this, weekly jobless claims may have fallen for the sixth straight week to a new pandemic low but according to our "countdown" closer the labor shortage is one of triumvirate of big economic forces having the biggest impact on the economy and global markets right now. payne capital management ryan

payne joins us now. ryan, great to see you. i used a big word, triumvirate, going back to ancient rome. assuming it means, used to mean three leaders but the three concerns you have, first one would be a labor shortage, right? >> at payne capital management we like to be highbrow, ashley. this is bigger issue. you're hearing a lot about raw material costs going up. we know commodity prices are going through the roof, when you think about inflation nary pressure historically where you really get it is in the labor market. i was at a business, a organization meeting with a lot of other business owners the other day. their biggest problem is, it is impossible to hire right now and everyone is raising wages. the problem when you raise wages it is hard to go backwards, right? unless we get into recession. the economy will clearly run hot. that will be with us for a long time. i think that's why this

transitory inflation the fed is talking about is absolutely incorrect. ashley: okay. the other two i mentioned of the triumvirate would be what, a weaker dollar, issues with supply chains? >> yes. so the other thing we've seen since really last march is the dollar weakened a lot. this is something that is not talked about alot but you're starting to see growth, i dare says like europe. no one talked about europe the last 10 years, ashley. if you look at the growth in europe it will, exceed the growth in europe. growth will exceed what we see with u.s. companies. money will find where the best value is. european stocks trade cheaper. global stocks trade cheaper in general. lower valuations, better yields, higher growth rates. at money funneled around the world, that is weaker for the dollar, better for international investments.

many people makes mistake not having a global portfolio. you have to take advantage of that, u.s. will be slower growth rates we haven't seen in a decade. it is happening but you have to focus on that. thirdly -- ashley: go ahead quickly with the supply chain. >> the supply chains they are a mess. they will probably stay a mess for much longer time than everybody anticipates. that is the third thing you have to keep your eye on. triumvirate we see at payne capital management. ashley: the energy sector, what do you like in particular? >> i exxon specifically. they are only ones that shunned diversing out of hydrocarbons. all the other companies are trying to get more environmentally friendly. it is not pc, if you look energy demand will go up a lot. traveling again in summer. everyone is going on trips. oil prices will con tin to rise. exxon because they're more dependent on natural gas and

fossil fuels. revenue will benefit the most from that. right now you think alternative energy is the future. future is exxon. [closing bell rings] ashley: ryan payne, great to see you, ryan. thanks so much for being our closer today. they're clapping their hands on wall street. the s&p closing in on a record close. that will do it for "the claman countdown." "kudlow" is next. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. today, big, very big inflation report. it is all the news and all the rage. here comes inflation. .6 of a percent in may. 8. had 4% at annual rate last three months. the fed's target used to be two. what we had for over 20