that washington can point to and say the american economy is doing well its got to be boeing. >> charles: its got to be boeing. that was my never sell stock for 10 years and i still want it but i haven't added to it but i think i probably should. david thank you so much my friend. really strong big day for the markets we popped open, we're holding on to those gains should be a very eventful last hour of trading, liz over to you liz: yeah, you know, it's like the dow is busting out of its five-day losing streak in spectacular fashion this hour, charles. we're covering every single one of friday's 533 point quadruple loss and more, we've got it up 552 right now, you've got cyclical stocks driving the blue chips to their biggest gains since march 5. s&p joining the party at 55, nasdaq up 112 points. this rebound is coming, as amazon kicks off its two-day prime sales event.

could the post-pandemic wind fall finally give the online mega giant stock the boost that it needs to power pack the nasdaq' performance? yes, underperform the nasdaq. our prime day panel is here to break down all of the details and corporate intrigue. plus, the pandemic pushed millions of people into remote work, obviously, stay-at-home, right? opening the door to cyber criminals looking for easy ransomware scores. z-scaler is an it security company that blocks 100 million threats per day. we're going to talk to the ceo about what he thinks businesses need to do to eliminate even just a few of those 100 million in the post-pandemic digital landscape. this is a fox business exclusive first, we've got breaking news we want you to take a look if we can at the radar here, claudette , this is the tropical storm that left 13 people dead in alabama. now as you can see on the right hand part of your screen, the storm has torn up the coast,

but is now well over the atlantic, no longer a threat to the united states, but look what it's doing to crude oil prices. west texas intermediate that's the benchmark the trades here has punched through $73.50 a barrel and now it's just slightly lower than that in the after market session, but i need to show you the price action and the drilling and refining stocks. we need to show you apache, eog resources, 7% of gains for apache, eog is up 6.6% these have only gone up and up and up all session. we could throw in marathon, murphy only, up 7.5%, marathon better by 6.6% and some of these names have both onshore and offshore rigs in the region, that was just hit by the storm. all right, from drilling to min ing. here is some breaking news, bitcoin is just a huge story heading into the final hour after china today announced it's extending its crypto mining ban, and this is china's second largest province which is known

as a hot bed for crypto mining operations, about 10% of the world's crypto mining happens there. bitcoin has now lost half of all of the time record price of 64,000 reached back in april. right now we're at 32, 682, flip it over to ether, which dropped below $2,000 for the first time in a month, we're at 1,951 and then dogecoin just getting trash ed down about 13% it was much worse earlier down about 19 %. at the moment, you do have dogecoin up with litecoin, sorry, dogecoin is down about 17 %, we're keeping an eye on that one. now in the next half hour, wolfgang kester, the top name when it cops to stocks and currency exposure, is going to name four stocks, he says, have way too much exposure to crypto and he's going to tell you why. these are popular stocks you may own them so you need to know if they are in your portfolio and what to do at least according to wolfgang. can we get to amazon shares

which you'd think is one penny in the green most of the session s they have been in the red still down about three- quarters of a percent. it's prime day, the two-day online shopping extravaganza which kicked off this morning, it is expected to haul in $11 billion, for amazon. the manufactured holiday, because you know they made it up , is in its 7th year now offer ing up all kinds of discounts, some of them paired with their own countdown clocks, including this one. you have just a few hours left to grab this 65-inch sony bravia ultra 4k tv for $ 1,600. usually sells for $2,500, so look at that, $900 discount not bad. go now if you want that or , yeah, want, want is different from need, people. okay? because a lot of prime members are swooping that one up. walmart, target, best buy, ebay hitching a ride on amazon's wagon because they know that millions of people are shopping online, right now, because of

prime day. they're offering up sweet deals of their own, to try and steal some of amazon's prime day thunder, but can they even touch it? let's bring in jmp securities technology analyst ron josey. he says brace for sales impact. he's got a buy rating on amazon and a price target of $4,500 a share, and top retail analyst he tha herzog is about to give us the over-under on that predicted $11 billion revenue expectation which i want to start with, before we get your prediction, what do you think makes this prime day different from those that have come before today? >> the reason why the day is so different, liz, is because it's the second prime day amazon has had in eight months. so if you remember, they did a prime day, eight months ago, to makeup for the prime day they didn't do during the pandemic, and then they're doing another one, and usually, prime day happens in july. well, now it's happening in june and you're seeing all of the other retailers that are

competitive with amazon pile on as well. i think that is what is such a differentiation here. it's we call it in retail, it's the christmas creep, this is the amazon prime creep where it's starting earlier and earlier, so you're getting more of these deals happening at an earlier pace. liz: i know. it's like christmas is going to be in january, at least the purchasing power of it. okay, hold on to that. it's a big tease here i want to hear whether you think they are going to make 11 billion in a second but let me get to ron. do you know, the stock has been trapped in quite a tight trading range over the past i want to say seven months or so. as you look at it, it's under performed the nasdaq, year-over-year, which is so odd, because amazon has always been the stock that is sort of in the glittery name here but there is amazon three-month picture if we could look at the comp between it and the nasdaq what you'll see is about a 13%

deficit to how the nasdaq has performed so give me a sense of what amazon needs to see before it can break out. >> yeah, liz, it's a good question. i mean, they've sort of done everything right during the pandemic and there was issues from a supply chain perspective and logistics just given the demand a year ago. stocks had a heck of a run if you look at the broader call it year versus the three-run outlook and so maybe this is a little bit of catch up. as we get to 2q and the back half of the year, look, i think every single day, amazon just extends their lead a little bit more from the competition just given their investments in their supply chain, their logistics, their amazon logistics business and the list goes on and on, so we look at the business, we look at the stock really as taking a breather now a lot longer than we would have thought, right? like the three months or six months i don't think the stocks done much, however when we're able to look out over call it the next year, plus, we actually think that this is catch up, and then the stock will then catch

up even more to where we think projections will go in multiples liz: yeah, look at the five year picture it's absolutely gorgeous you only wish you bought it five years ago, folks. >> that's right. liz: hitha, let me get that prediction from you. again, adobe analytics is saying that amazon will make $11 billion by the time the dust settles over these next two days what's the over under? what are you taking here? >> yeah, i think it's probably going to be a little bit more than that. i mean, i'm looking in the range of 12-13 billion. mostly because they are really trying this retailer is trying to takeaway market share from target and walmart, when it comes to grocery and consumer packaged goods so here is a fun fact, liz i was doing research. oracle did a study last year and it said that 5.7 times of baby boomers that were online were dominating online shopping, so they are the ones that were driving all these purchases for

consumer package goods, so it's not these younger generations that are doing that and they're buying things that you used to cook with, so it's not just while most of the product on amazon right now for amazon prime day the most discounted products are clothing and toys, and also electronics. a lot of that consumer package goods stuff is also being bought we got used to buying stuff for our houses during the pandemic from amazon, so i think it's actually going to be a little higher that number. liz: okay, to that end, ron, if hitha is right and it's 12 or 13 billion, i'm kind of leaning toward her theory, especially because boomers are the ones who have the money, hello, and they have the will, they want to buy from amazon, you have to tell me , does that risk bringing increased scrutiny from regulators? let's say amazon kills that $11 billion number, and it appears they are so powerful and such a magnetic force in this world, that the regulators

look up and say in other words, you got a problem. it's now getting crazy here. >> yeah, and i would just add to the 11 or maybe 12 or 13 whatever it is, we're in more countries this year as well and to prior point here, we're relying on the service more and more, and to answer your question, liz, at the end of the day, amazon prides itself on convenience and driving that convenience in most anything that can be, whether it's two day, one day, same day, same hour delivery, it's convenient and if the consumer is going to be better off because of it, sure. i think you're right. it drives increased regulatory scrutiny however we've been in this sort of regulatory environment for the better part of probably two, three, four years now. i'm not too sure anything changes there other than to say at the end of the day, it's an open market, everyone else can compete, amazon just has invested quite a bit in their infrastructure to have just faster, better shipping that's more convenient for you and i as a consumer.

liz: got it. hitha we got to run but you can't talk about amazon without talking about ups and fedex which are solidly in the green at the moment, so you look at that and then you think about jeff bezos. this is his last prime day as ceo, you think andy has the creativity to grow this and morph it into something even bigger? >> at the end of the day, liz, amazon, as much as we think it's a retailer, it is a logistics company, and i think they have set the foundation for that, and it's just about building upon that, so they certainly have the technology and they're going to be able to deliver that product faster, better, stronger , than any of those retailers and until walmart can trump that, they just are going to dominate. they are a logistics company. they do it better than anyone, so i don't know. it's a new ceo can build on that i think he's in a pretty good position. liz: [laughter] well, both fedex and ups are up 2.8% i'm just surprised that

they haven't bought fedex. i mean 77 billion, they got that cash lying around. maybe one day. i've always felt they were going to buy some type of shipper, we shall see. thanks very much. we do have some breaking news right now that we need to get to watch the markets here. we are up 585 points for the dow , just after new york federal reserve president john williams came out with this one. "while the economy is improving at a rapid rate, conditions have not progressed enough for the fomc to shift its monetary policy stance." what does that mean? look at this. we're now climbing folks, do you see this? we're jumping higher here with the dow, nasdaq and s&p. he's saying that we are not there yet when it comes to raising rates that a recent spike in the economy is something that may moderate just a bit and we don't want to raise rates too soon. very interesting. now the s&p is up 56 nasdaq up

110. specifically to the dow, completely erase that 533 point loss it endured on friday but has added obviously more points the bulls are thumbing their noses at the hawkish fed comments last week on inflation and of course the possible fast-tracking of rate hikes which john williams just doused cold water on which is interesting. let's look at the vix we should check this out because there was no fear. fear was seeping out of the broader markets, and we're still, in fact, we're at the lows of the session, which means complacency, the vix is let's call it down 12 and 1/3 percent. here is the key question. did you miss friday's flash dip? is it gone into the wind? to our floor show traders scott redler and chris robinson. no worries, viewers. these two are going to tell you what the to look for next. i mean, guide them. scott let's start with this. what signals do people who are looking for that entry point need to see and grab to see it as a good entry point back into

stocks? >> well it depends on their timeframe because most long term investors what you should always be doing is putting in monthly flows but an active trader who trades for a living has so many different indicators to use. what i try to do is the 50 day. if i get out of stocks when they lose momentum, typically, they've been holding the 50 day and if you look last week, okay many different names broke the 8 and 21 day prior but come thursday or friday, they were approaching the 50 day. the banks, jpmorgan, caterpillar , a few others, so there's always a time to try and buy the dip, and recently the composure and the way the markets within trading you have this crazy sector rotation that sometimes feels a lot worse than it is, so but the market overall has been holding up and holding like the s&p hasn't been below the 50 day for months, so with that being said, you have to look for a divergence, so if you're trading a sector you think will break out what you want to do is see it hold higher , with the border indices decline, and then when the market bounces, that sector

is the one whose probably going to make new highs. what you really want to be focused on if you want to buy a dip on a sector out of play that's been strong prior like the banks where really strong three months everyone wanted to be there, boom. it all depends on the type of trade you want and there are lots o of rules to follow. liz: it's really hard to train yourself to be happy on a day when the stocks you wanted are starting to fall, but that's exactly, chris, what people really need to do, is it not? and so to that end, friday was a good flash dip. i made up that term. [laughter] friday was a good one. that was a chance, was it not? all of that loss is now erased. >> yeah, i mean, that's why you have to have a plan and what's first said was absolutely correct. there are so many indicators you can get overwhelmed. i telemedicine to try and keep it simple. i've been doing this since the late 80s, early 90s. you can get lost in the details so always say keep it simple. if you know you want to buy a

stock and it's trading at x, and you'd like to buy it at x minus 10% figure out what that number is, put yourself at a resting buy order there, that way when it dips and you get hit on your order you're in. it's very easy when a market breaks to say let's wait a little longer, let's wait a little longer and this market has done that really for the past 10-12 years since 08 every dip has been terrifying but longer term, its been a good dip to buy. will that continue? if you have a 20 year timeframe i would say that's probably true if you have a 20 minute timeframe or a 20 daytime frame , it can be a lot different , so that's number one rule. make sure you've got a level you want to buy, have that order working, and then if you get a chance like we had on friday, it can be scary, but that's the level you want to try and buy and then there are other strategies as well but that's a simple one. know where your 10% buy-in is. liz: strike while the irons hot.

easier said than done but we're looking at the dow up 569 gentlemen thank you. we're watching more headlines for john williams, the new york fed. in the meantime, a powerhouse po w wow is going on right now at the white house, this afternoon as president biden meets with the nation's top financial regulators we'll find out what they are focusing on as the commander-in-chief takes a look at the latest infrastructure proposal we've got a live report from the white house, next. ♪ ♪ 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

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liz: breaking news, president biden meeting with the most powerful financial minds in the country, behind closed doors in the oval office. by the way, it's his first-ever with fed chair jerome powell. now besides powell, treasury secretary janet yellen and sec chair gary gensler also in attendance. the meeting comes as the president's scruitinizes the latest bipartisan infrastructure proposal, so a lot going on there. let's take it straight to the white house and blake burman, blake they got interest rates, debt, stronger dollar, crypto regulations to tackle what are you hearing from the inside? reporter: a lot to talk about in that meeting, liz potentially you just laid out the issues there all of the white house though is saying at this point, at least in the lee-in to the meeting was that that group and

others were talking about three things in particular. one, climate-related financial risk, two, actions to promote financial inclusion, and three, increasing access to credit. not to say those are the only three things they are going to talk about but at least what the white house is saying going into this meeting. as you mentioned, this , indeed, is the very first meeting between president biden and that man right there, the fed chair jay powell. the president has been on-the-job for five months but this is the first time the two will be face to face in a meeting. the white house press secretary jen psaki was asked if the president has confidence in the fed chair, and as you'll see here, liz, she really didn't say one way or another. watch. >> the president's view is this is a routine meeting with financial regulators to get an update on management of the economy and making credit accessible to people across the country. reporter: white house says they will provide a read out afterwards so we look forward to seeing what that might be. by the way you mentioned

infrastructure. it could be a very crucial week on that front. the white house says the president was encouraged as to what was put before him by the bipartisan group of senators that are working on a frame work , and the white house also says expect the meeting at some point this week between the president and members of that group. liz? liz: we're watching it all thank you very much blake. the fee of that super deadly delta variant of covid has one nasdaq stock charging higher, we're going to give you the name , and the semiconductor shortage not just jamming up auto and electronics production. it may even be making your favorite dinner time meal go cold. grady trimble live at a chicago restaurant to explain the latest chip crisis, closing bell folks we're 37 minutes away. we have that dramatic pop on the news that the new york fed chief john williams said, no, no , no interest rate hike yet. the dow still up about 568. we're coming right back.

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liz: you know, fear can be a powerful driver, and that's pretty much what we're seeing in today's number one pop stock. the top name on the nasdaq right now, moderna. shares are speeding higher as the notorious delta variant, this is that highly contagious killer mutation of the coronavirus, is rearing its head here in the u.s.. the wall street journal reports moderna is on the case, hence its four and a third percent jump adding two new production lines at its covid-19 manufacturing plant in massachusetts but of course you could have gotten that jump on friday's "claman countdown" with the chairman of moderna. >> as we've said for many months now developing a strategy for a booster shot that involved the original vaccine as well as in combination with new sequences that are put into our mrna vaccine and we want to

be in a position where by this fall we have ample data to suggest what might be an effective booster strategy should we need one. liz: shares of moderna at 195.84 right now. it's raining cash, and lady gaga , jay-z and u 2 are all under one umbrella. universal music group being spun off will now be a spac is cash ing in on those big names by signing a deal to buy 10% of umg for about $4 billion, and speaking of universal a claim director steven spielberg who already has film deals with universal's movie arm is pulling a 180. the star director who wants famously tried to ban netflix from the oscars has now, through his film company, signed a deal to make several new pictures a year for netflix. no financial terms were discussed but the news comes as the streaming giant boosts production to one movie per week level.

that was promised for 2021. comcast up 1%, netflix down 1%. you may soon be ordering salsa without the chips. not only has the global microchip shortage ravaged the auto industry but electronics specific to the restaurant industry are now taking a hit. yes, the chip shortage is taking a bite out of restaurants which are struggling to get a hold of basic chip-driven equipment needed to simply take and fill orders. actually, isn't so simple, to grady trimble joining us live from corcoran's grill and pub in chicago. reporter: these things are more complicated than i can understand, liz. you've seen them before, i'm sure, the waitress takes your order at your table and then it sends it straight back to the kitchen or to the bar, well of course, there are computer chips in these, and the chip shortage seems to be impacting restaurant s ability to get these point of sale systems. kristin vaughn is one of the owners here so you just

ordered several new ones last february. you ended up waiting a pretty long time. >> yes we got them just last week so now we have the devices we need in order to serve our customers. reporter: finally it's a long time to wait and you know of other restaurants that are going through this same thing, do you have any answers as to why it took so long? >> obviously the chip shortage. i have no control over that but yes we're all facing the same. also we all opened up at the same time, so we all placed our orders at the same time. it's just, you know? reporter: supply and demand, and you're also dealing in some ways with the labor shortage. you're dealing with food prices going up, dealing with these computer chip shortages, so what have you had to do to adjust? have you had to raise prices a little bit? and customers are they okay with that? >> we've had to reevaluate our menu prices to make sure that we're charging enough, so we always have been conscience of what the market will bear, and we take care of our customers. reporter: and i know this is sort of out of your control, right? so what's the message to people as we are reopening and getting back to normal life?

>> obviously, with supply chain shortages, and the lack of staff , i would just like customers to maybe be kind, we're all trying to make it work we're happy to be open. reporter: dekind and patient liz , and by the way toast is the company that makes these handheld devices. we did reach out to them about how they've been impacted with production of these systems. we have not heard back. liz? liz: okay. all right we're watching it yeah , it's just this domino effect with the chip shortages unbelievable. grady thank you for opening a window into the restaurant side of it. we got a new warning from one of business' top cybersecurity experts who says a rapid advancement in technology usage during the pandemic has left every company, big and small, with one particularly huge gaping hole. we're going to ask the ceo of silicon valley ip security company, z-scaler what he thinks businesses need to do to close that hole, and wait until you

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liz: classes back on this afternoon at the university of massachusetts, lowell, after a cybersecurity breach forced it suspend access to its network last week. this as vodafone's chief technology officer describes pandemic technology as "10 years of progress squished into 10 weeks" yet despite all of this technological progress, there is an area that is struggling to keep up. "cybersecurity." well, you know, some of these names, fire eye, checkpoint, palo alto networks might disagree with that assessment their stocks are all up anywhere

from 60-70% year-over-year because they got a lot of customers who need this protection but one stock is leap frogged overall of them. cloud-based security firm z- scaler, shares are up 101 % since last june. let's bring in ceo who joins us in a fox business exclusive. jay, is the vodafone chief technology officer right? has cybersecurity failed to keep up in light of of the rush to the digital life during the pandemic? >> liz, yes. firewalls and vpn was good for a while but it's no longer relevant and it has lived its useful life and it is now causing issues ransomware and the like. liz: well does that mean that this sort of new threat that's out there and we're thinking of the ransomware that came in, and of course, in that form, it's called a rat, the remote access

trojan, which sneaks in and then hangs out for a while and then suddenly, just mutates and explodes throughout the entire system shutting it down. what is it that all of these companies don't get? because you talk about firewall, a lot of that is the hardware of it, right? do we need to shift to software protection? >> it's not the hardware or the software. it's the model. the old model said if you're inside the castle you're safe, if you're outside you're not safe and i use fire work technology at the moat and a door to keep you safe. the challenge is applications are no longer the castle. users are no longer in the castle they are out there, everywhere and that's where the model fails. what's really needed is this new architecture that's cabbies advocated by gartners of the world, national security agency of the world, called zero trust architecture which says trust no one. in this architecture, we act like a switch board and say who

do i connect to whom? period, there's no one inside, there's no one trusted. that's the model customers need to embrace and that's what we are doing with 5,000-plus zscaleer customers to keep them safe. liz: well president biden did issue that executive order, the zero trust architecture, so you obviously agree with that. what are you doing at zscaleer that you believe is dealing with what did you say 100 million threats a day to the companies whom you deal with? >> you know, the more business happens on the internet the more business happens in the cloud, more bad guys are attracted to it. that's why you're seeing more and more threats, and the castle and moat model of old school firewalls and vpn is creating issue. you saw it with the colonial pipeline. you saw it over the weekend in san francisco about the water system and what happens? they come through vpn, they are

getting in and then they lateral ly move and find an important application and then they hold you hostage. zscaler says there's no such thing as getting inside my castle. i'll only connect you to particular application or service and that's what's needed so siemens and all of these large companies that are progressive, they are embracing it, and that's what our country needs to do and we are seeing biden administration moving in that direction. liz: how worried are you as some businesses say, you know what? come back to work. come back to the building three days a week, you can work at home two days a week. does that expose a vulnerability >> it does. a lot of pc's at home have infected at home networks and now the infected machine comes to the office and gets on the company network and infects everything else. it can cause the same kind of thing that happened to the mega shipping company a couple of

years ago. one infected machine infects the whole thing. you're in the castle, you take over everything in the castle, but there are protections that you can take, zscaler, when they come to the office, they still go through the switch board service so no one is on the network, hence, you minimize any threats. liz: okay, i do just have to bring up the rap prices have gone up, you know, these ransomware demands coming, they used to be six figures and now some are as high as $50 million. look, i know that you wouldn't advice the ceo depending on this but where do you personally stand? would you pay a ransomware? >> i won't, but i won't wait for having these things happen. i think inertia is holding these cio's back. it's a wakeup call and say let's wake up. fix these security measures.

it's not it's very hard to do. it's very doable, but people sometimes keep on going what they're comfortable with. that's really causing a big issue in our companies. liz: well nobody should be comfortable, all right? it's great to see you, jay. i like the castle image, with the moat around it don't trust anybody, jay chaudhry, much appreciated, good advice. >> thank you. liz: we are looking right now, you're welcome, a big day in the markets here. we should mention though, companies are spending millions of dollars but not necessarily on cybersecurity, instead, the white house maybe mandating new regulations that are forcing big and small businesses to drop carbon. what are they? charlie is going to break that next, closing bell 17 minutes away, s&p up 55 it's a big gain for the broader index.

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liz: folks we do want to revisit what happened four minutes after we opened the show today. doveish comments out of one of the biggest doves at the fed hit the tape, and those comments were like waving a red flag to the bulls. the bulls charged after new york fed president john williams said interest rates should stay put as the economy is still recovering. he also said that global rates are likely to stay low post pandemic so you can see from these intraday pictures a little bit of a pop right at about 3:00 didn't exactly hit the highs of the session, but we do see with the nasdaq, s&p and particularly the dow we started to see that little move once again. in the meantime williams cohort, fed chair jay powell along with other top financial advisors just met with president biden in

the oval office. let's bring in charlie gasparino and what is it about this meeting that has you all a twitter? charlie: [laughter] i'm not all a twitter. i tweeted about it but i'm not all a twitter by the way it's not advisors but regulators and that's why it's about important thing, it's jay powell and the fed chair, janet yellen, the treasury secretary, it's gary gensler, the chairman of the securities and exchange commission, and what they're meeting about is essentially, a different type of corporate disclosure on companies. in the past corporations were forced to disclose stuff that's material to the bottom line, lawsuits are often disclosed, changes in businesses, things of that nature, anything that would impact the stock price directly and the bottom line of the company was part of the corporate disclosure process now, it's much more, it's much different. there's been a movement to have sort of soft social issues being disclosed by companies, stuff that shows how companies are

making strides to better the environment, improve diversity, to be better corporate citizens, and that's what they meant with today, that's with all three of them and other regulators as well met today is to how to address this issue which president biden campaigned on and it has the business community pretty upset and here is why. i think everybody is for diversity. i don't know a single ceo whose for polluting the environment, but when you put these types of disclosure requirements on companies, and they have to make sure they are accurate, whether a company has a good carbon footprint in a building in the middle of des moines, you know, that costs money. not just for big companies like jpmorgan and general electric but for smaller, public companies and that's what they are talking about here and we've b asking business groups and asking heritage foundation which is a conservative think tank but follows business issues what's

going to be the cost and you know here is how they break it down. they are talking billions of dollars in new costs for public companies. if these sort of disclosures are mandated and the biden administration is moving towards mandating it. they are talking about the potential for a lot of litigation. challenging companies under types of disclosures from activist groups. again, more money being spent, and less money going to shareholders, it's going to hurt shareholder value. gop lawmakers are revving up the challenge of these standards and it's going to be difficult in the minority but if they get in the majority it could help and here is something interesting from john coffee columbia university law professor who puts this in context. he says there will be pushback from the corporate communities and the law firms, but i do not see yellen or powell having an interest in resisting these types of disclosures. there will also be pushback for greater diversity disclosure s and timetables which i believe gensler, gary gensler, the sec chair favors, but which

will be resisted by management. there is going to be a little bit of battle here because there's numbers and there's cost involved, particularly for smaller public companies, so watch this issue. it's starting to gain steam right now and by the way the mechanism which they would impose this is through the sec, through gary gensler passing some sort of rule that forces corporate disclosures of these soft woke policies, liz. back to you. liz: okay. i just want to take one issue with this woke policy issue. yeah, you know, when you're talking about some of the squishy stuff, fine but when it comes to the environment, you know, i covered the yes, sir uranium plant in ohio years ago where this you're rain yum company was spewing billions of particles out getting into the water and so many people were dying of cancer and children and they tried to hide it. charlie: liz, that is -- liz: that stuff has to be regulated charlie. talk to anyone who lived in cincinnati.

charlie: let's be real clear here that's called illegal dumping of hazard material in the atmosphere, and what we're talking about -- liz: and they were doing it so it needs regulation. charlie: talking about a small company having to show gary gensler that all its buildings comply with his view of what an environmentally-safe work environment is. that is a big -- liz: okay i get that. i just wanted to make sure that we're on the same page. charlie: no one is for like another -- liz: i'm just saying, you're just saying. okay, we'll fight after the show . charlie: upstate new york and all of these -- liz: okay, charlie got to run. we got a china crackdown sending crypto prices tumbling in today 's countdown closer has a new warning, for investors, about some very broadly-traded stocks that are making bitcoin a part of their strategy. stay away, he says, you'll hear why, next.

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♪. liz: breaking news. use both your eyes here, one on the dow, one on exxonmobil. "bloomberg news" is reporting that exxon is preparing to reduce u.s. white-collar ranks by as much as 10% for the next three to five years according to people familiar with the matter. the oil major will use a performance evaluation system to weed out low performers. what company doesn't do that now? i would just like to say you have got exxonmobil powering higher by 3.6%. the dow is now back up above 600 points the dow jumping 603 points, the high of the session. the high is 618. high of the session up 59 for the s&p and we're up 58.4 at the

moment. we've got action here. two minutes left. bitcoin sliding into the close as china's mission to cush cryptocurrency trading intensified. our "countdown" closer said not just crypto you need to be watching, companies to invest, allow crypto currencies to be part of their business. wolfgang kester. what names are you talking about here that you say stay away from? >> micro strategy is one. watch how they handle tesla. the number one absolutely is microstrategy. they own at these valuation already $3 billion worth. they have a free cash flow of roughly $77 million and at the end of the day what happened last week which is the wand, digital wand, going digital, going public is the beginning of the end of cryptocurrencies.

it is, there have been a competition a race. cryptocurrencys, alt coins, ethereums, et cetera boeing to take over central bank digital securities. the chinese are proving that is not going to be the case. liz: israel is looking to testing a disedge -- digital scheck sell. france is looking for digital coin. i would disagree. there is a something to digital payments. microstrategy, square, stay away from those. we have 30 seconds, a strong dollar which stock would you like when it comes to hedging a strong dollar? >> the things i would look at is the -- of the world. i would consider square to be quite frank. they could be monitor, and leveraging, creating digital currencies from the central banks. i think that the ones to watch

are ones that do not have financial implementation and process that can manage immediate settlements. [closing bell rings] >> such as the fomc and scan sources. liz: wolfgang, always a pleasure to have you. just a day after the dow came off the worst week since october of 2020 big move. ♪. larry: hello, everyone. welcome back to "kudlow." i'm larry kudlow. well, folks we'll begin with this, the markets were absolutely roaring today, good for them. the dow up nearly 600 points, coming back from a big drop last week and a big drop on friday. we have the great art laffer coming on later in the show. he will tell us about stocks and inflation. which wins in the investment foot race? who will come out ahead? we'll throw in some interest rates and the fed too. you know me. i love talking about inflation and stocks and