charles: that was great. i understand comparisons were easy, but i think they left a lot of gains on the table. folks, make sure you know the names that beat last time, compare them this time. that's all the time we have right now. david, erin, two of the absolute best. i appreciate it. meanwhile, bitcoin. we started this show talking about it, went up 13% from the low. liz claman, a lot going on as i hand it over to you. liz: well, yes, bouncing. a little bit of a bounce for bitcoin. [laughter] we've got this breaking news, charles, the nasdaq cracking a new all-time high. can it close there in the next 59 minutes as fed chair jerome powell speaks before that house committee at this hour. powell not really saying too much with headlines, but he's basically saying the fed will not raise rates while unemployment is, quote, so high as senators quiz him on how long and how high inflation might go.

we'll take you to capitol hill for the big news headlines when they come. and there's money in them thar hills. in a fox business exclusive, wall street's ipo is put in perspective. you may not realize this, there's 17 if i -- ipos this week. he's going to tell you exactly what kind of companies he's looking for. plus, keep on trucking if you can find the drivers. the post-pandemic supply chain getting greased by amazon prime day. we've got the ceo of old dominion freight line here in a fox business exclusive to tell us what's driving america's coronavirus recovery, and wait until you see his stock performance compared to the big competitors, ups and fedex. it may surprise you. let us begin with breaking news, you're looking at the hearing with fed chair jerome powell.

senator jim jordan is quitting the fed chair -- quizzing the fed chair right now. moments ago he did say he is, quote, unsure when the high transitory or temporary inflation that we are seeing right now might pass. let's get to hillary vaughn listening to each and every word of it on the hearing. what's the latest? >> reporter: hi, liz. we have heard a lot of questions about inflation and a lot of questions about the labor shortage and whether or not those two are linked together and why consumers are seeing prices popping on everything from gas to groce islies. -- groceries. but jerome powell did say that inflation is here, and it has gone up notably in the past few months, but he believes it is not here to stay and it is only temporary. and on top of that, he does not think that the inflation that we're seeing right now is going to leave a long-term mark, because he says a lot of the places where prices are going up are tied to the reopening of our economy. so he thinks that once things smooth out with supply

bottlewith necks and restaurants -- bottlenecks and restaurants are able to operate at full capacity, that inflation will not leave a mark in the long term. >> so, chairman powell, is 5% inflation acceptable to you? >> no. certainly not. >> so, clearly, we want to address this crisis. >> reporter: and chairman powell also did talk about the labor supply shortage that a lot of lawmakers have told him restaurants in their home districts are having a very hard time hiring people. but not just that, even people who are offering much larger salaries, up way above minimum wage, are having a hard time finding workers. and powell said one of the reasons why we saw a quick uptick in people going back to work was people returning to their old jobs. he said right now perhaps the gap and why you have a lot of job opings but not a lot -- openings but not a lot of people returning to the work force is because those are people looking for new jobs.

that process takes time to play out as workers are trying to find the perfect match. a lot of lawmakerses not buying it, saying they are hearing no mart how high their wages -- no matter how high their wages are for workers, there aren't any workers willing to go back to work. >> but ultimately, as we have this labor shortage, as it's creating supply chain backups, as it's starting to get worse especially on the inflation side, chairman powell if, will the i economy ever reach a full pre-pandemic level if this shortage continues? >> if it continues -- i strongly suspect that labor supply and job creation will be moving up well over the rest of this year. >> reporter: and, liz, lastly, a lot of the narrative we've heard from the republicans so far in this committee to powell is even though president biden said he would not raise taxes on anyone making less than $400,000 a year, they say inflation is essentially a tax, especially hitting hard the middle class because it is those people that

are having to to pay more for everyday things. again, powell's response today has been he does not think that this is a permanent problem and that eventually this will, essentially, return back to normal. liz? liz: yeah, hillary, and if you're looking at the ticker, folks, you see that the markets are not spooked at the moment. in fact, we're seeing that the markets are gaining traction in this final hour. the dow is very close to session highs which would be a gain of 105 points. we are up 104 at the moment. s&p better by 23, the nasdaq up 91. let's get to our market experts to figure out what people are doing, what this should be buying. phil camp rely is jpmorgan asset management managing director along with trader tom hayes. you know, gentlemen, a major concern has been brought up by the committee throughout the hearing so far, this question of whether the true employment and unemployment rates still remain very high. while powell says he suspects the labor supply and job

creation will move up the rest of the year, let's talk about the overall impact on the recovery even as we see that, i mean, as you look at this, you say to yourself, phil, the s&p s&p's within 1% of a record high. >> yeah, liz, good to be with you again. last time i was with you in maw, we were expecting, you know, some excitement from the june f if omc meeting, and we got that excitement. as far as the labor market goes, you know, this was the vaccination event for the fed. do you remember back in november, on november 9th, pfizer comes out with their headline 90 plus effective vaccine -- liz: yeah. >> and that trade just went bonkers. and i believe that what the fed did last wednesday, their pivot is really akin to that. because they were moved, liz. the whole part about the hardship from the virus in their statement and put in the vaccination part. they fully expect, as jerome powell just said, that all of

those jobs that are still missing, o.k., are going to come back over the next couple of months. coincidentally, as unemployment benefits start to roll off. that's the missing piece, liz. you look at initial jobless are claim, all these employment measures, and then you see than-farm payroll disappointing, right in that, they believe, is temporary, and that is the key to this. if labor supply comes back, inflation will prove to be transitory because you cannot, liz, have a sustained rise in inflation without wage inflation picking up. and if we're right and if jerome powell's right, you're not going to get that wage inflation to really be the linchpin of sustained higher inflation. and all the fed did last wednesday was validate the pro-cyclical recovery. this should be cheering the fed that they upgrading to 7 and

inflation to 3? what's the alternative? being in a pandemic, right? liz: i agree. i agree with that. >> right? so what we believe is going to be the earnings backdrop for high multiples right now. liz: okay. so that validation and and, tom, you look at the conundrum that the fed is kind of stuck in at the moment, we've got to wait to see how employment goes before we can figure out whether we need to raise rates. what is the trade in this sort of uneven and slightly uncertain atmosphere? >> yeah. well, liz, the unemployment rate in february of last year was 3.5% before the pandemic. it's 5.8 now. so powells has said i'm going to keep the ped aal to the metal -- pedal, which means no great rises til 2023, no tapering til 2022, and those groups that have underperformed on inflation and tightening form this year -- tech, utilities, staples and health care -- can now have a

summertime bounce. and the name we've talked about in the last few week, splurge, netflix, amazon, we like tech here, and we actually also think chinese tech is going to follow this bounce in u.s. tech, and we added to baba, splunk up 20% since we talked about it on your show, and we do think that cyclical trade that phil alluded to is going to come back toward the end of the year because we still are in the early days of a new business cycle, just over a year into the new business cycle. while energy and banks and cyclicals may take a rest are -- a rest over the summer, they will come back towards the end of the year in the early cycle. liz: okay. i just want to let our viewers know that the s&p has just touched a new intraday high, up 25 points. the dow as well now up 119. a second ago it was up about 120. phil, great to see you, tom, as

always, thank you so much. all right, just as amazon -- which, of course, you just heard tom mentioning -- just as they go barreling into day two of amazon prime day, fedex is forced to make a major reversal. just a week after dumping more than a thousand smaller customer suppliers saying it didn't have the time or capacity to deliver their goods anymore, wait until you see what the outcry did and what fedex then had to do. coming up, the ceo of one delivery giant who already jumped into action and backed up his trucks to pick up the slack and save the day. no wonder its stock is outperforming the competitors'. with the closing bell ringing in 45 minutes and the dow charging higher by 121 points right now, you're going to hard from that ceo who is dangling some carrots, some golden carrots, to hutch-needed truck drivers -- much-needed truck drivers too. it's a good story, you've got to hear it. ♪ ♪

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frustrate thing shareholders. look at this, it's up nearly 2% right now. could it be huge sales numbers from day one lighting a fire under amazon shares? according to adobe analytics, day one sales are set to surpass $5.6 billion. that would be an 8.7% jump over last year. but can amazon deliver all of these goods? fedex freight, one of its shippers, forced to walk back a move that it made more than a week ago. a week ago is when fedex informed smaller suppliers it would no longer ship their goods blaming capacity constraints. but according to industry sight freight wave, today fedex has backed down from the dumping those smaller suppliers who were complaining vociferously, right? you can't just dump us. we supply home depot, lowe's, amazon. year to date fedex is up 14%. ups up 22%, but trucking company

old dominion freight line is outpacing both with a 30% gain. old dominioning is a pure play, less than truckload and services suppliers for retailers such as amazon. joining us now in a fox business exclusive, ceo greg gant. greg, great to have you. we know the supply chain is groaning under all kinds of interruptions, but have you guys dumped any customers like fedex freight tried to do? >> hi, and thanks an awful lot for having me on today. no, liz, i think i can honestly say we have not taken the approach of dumping accounts. i think us as well as our competitor, we have to make hard decisions sometimes about things that we may have hauled in a slower economy, and we choose not to haul those same shipments in today's economy. but, certainly, we would not make rash decisions on a day or two notice to dump a bunch of

accounts. we would just not do that.liz well, you know, listen, it is a tough the environment right now post-pandemic, as i say here about the supply chain glitches and, of course, these drivers shortages. these are all things you're facing as well, are you not? what are you doing to the attract drivers to make sure you can still service all of these clients? >> we do have the same issues as our other competitors, liz, for sure. but we are attracting drivers. we've hired some 1800 drivers within the last year. is so we have the ability to go out and attract drivers because of pay and benefits and all the good things that we to at old dominion and all the things that our employees love about working for us. so we do have that ability to hire, but we also, we have an in-house driving school which we train an awful lot of our drivers. they come right through the dock and through the different departments in the company, and

we train them to be drivers. so we've got a pipeline from that standpoint. and, again, we are able to attract from the outside. so we're having success. i will say it is much more difficult in today's environment than it has been in years past, but we are having some success. liz: so, greg, are you luring people? because i understand there are a few golden carrots you guys have up your sleeve to get drivers in. what are they, if you could give me some hard, hard information. >> well, liz, i don't know if it's hard information, but old dominion has been a carrier of choice now for some time, i think, for potential employees. i think we're a great place to work. we're, we have a family atmosphere within o.d., and we are able to not only attract, but we're able to retain people. we have very little turnover within our company. and i think that's the attraction for folks looking to

move to another potential carrier. and i think we're, again, that's why we're the carrier of choice. it's a great place to work, it's a family environment, and and our people love working for o.d.. and, again, i think our retention and the number of years that our folks stay with us is proof of that. liz: gotcha. i suspect analysts are going to want to hear the answer to my next question because it gives them a window into how appleson prime day -- amazon prime day may do. you guys supply for amazon suppliers which, i would imagine, mean that you started to see some real uptick in business, what, a week or two ago? can you compare it to previous years ahead of amazon prime day? >> liz, i don't know that we've seen a great rush in the last week or so. we've seen a real push over the last several months. not only amazon, but all retail ors are extremely busy, and

we've seen an uptick in all the different aspects of retail business that we do with the customers that we do business with. so it's up across the supply chain. not just with retail, but the industrial sector is up as well. we're seeing an uptick across all of our different customer base. liz: okay. well, greg, would it surprise you if i told you that i learned how to drive an 18-wheeler in ohio? they taught me how to do it in a big event. i only hit three of the nine orange cones, and i was all computed, and they said, yeah, that's like hitting three other cars on the street. >> yeah, that's not good, liz. [laughter] yeah, that's not good. come down, and we will train you and give you some instruction. liz: okay, i'm there. i'm so there. thank you very much, greg gant. old dominion with a very strong stock performance quarter to date and year-over-year.

i've got a question for all of you, when is too much demand a bad thing? when you leave customers waiting in the rain and then charge them not just more, but way more. the new outrage facing uber and lyft as the return to travel and the office shifts into high gear and what it might do to the stock. closing bell ringing in 40 minutes. dow is now up 135 and climbing. s&p better by 27. we're coming right back. ♪ ♪

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when you post your first job at indeed.com/home. liz: fox business alert, let's take a look at the godfather of the meme stock movement if, because it is leading off today's pop stocks. gamestop jumping nearly 13% at session highs after a raising $1.1 billion in its latest share offering, the video game retailer planning to use the proceeds to fund growth

initiatives and maintain a strong balance sheet. we'll be watching for that. the original meme stock firestarter still holding on to 6.5 of those gains -- 6.5 percent % of those gains. sanderson farms putting itself on the chopping block, all-out bidding wars heat demand and price surges -- meat demand and price surges fire up sale. you've got sanderson jumping 10.25%, and that is an all-time record high. all right, chicken rival tyson also in the green, and then we should look at wingstop, extending yesterday's gains after launching its new online brand, thigh stop. doesn't sound as good as wingstop. the new selection of bone-in or boneless thighs to off the charts wing demand that's now adding to supply shortages in the industry. and peloton climbing the nasdaq's leaderboard in, with, you know, you've got third

position, second position, first position, but it's really going crazy on that bike right now if you're invested, up 7.5%, shifting gears by unveiling a new corporate offering which will allow businesses to subsidize employees' digital memberships. peloton hoping to keep the at-home fitness crowd feeling the burn even as they return to the office. peloton right now at $116.37. as cities lift covid-19 restrictions and those crowds do flood back to urban centers, taxi services and ride-sharing apps alike having a tough time staffing drivers resulting not just in the longer wait times -- and you guys know this if you've called an uber or a lyft -- in some cases outrageous surge pricing. what are we talking about here? okay, so here's one example. a right from battery park, that's way down in lower manhattan at the very tip, up to

midtown, which used to cost at the most $29 is now going to set you back $44 on uberer, $35 on lyft but just $21 in a taxi. quarter to date, or let's look at the shares here. lyft's down 6%, uber down about 10%. do uber and lyft risk burning customer and, hence, revenue bridges with this surge pricing? to the streets of new york city and lydia hu on ride-sharing companies' new problem. lydia. >> reporter: hi there, liz. you know, analysts say that this problem will probably resolve itself maybe late summer, september, that's when they expect to have the drivers coming back to the city streets. we're outside the port authority in midtown manhattan. this is a real travel hub. just to my left is the taxi e lane, and it's usually full of taxis waiting to pick people up to take them where they need to go, but right now it's kind of empty. a lot of taxis driving by

already have passengers, one cabby said a lot of his customers are pretty angry because they're waiting 45 minutes to an hour to get a cab because nationwide analysts say there are about half as many or fewer cab drivers on the road as compared to pre-pandemic levels. same thing for lyft and uber, they can be down as much as three-quarters in some cities. so not a lot of options out there. that's what's driving the prices and making customers wait longer. watch this. >> fares will come down some. i think they're unlikely to come down to where they were before the pandemic. uber and lyft were raising their fares before the pandemic. they're under huge pressure there investors and the stock market to become profitable. >> reporter: now, lyft's ceo was speaking on a recent earnings call, and he addressed this issue saying that, in part, the federal unemployment benefits are really driving the

shortage here because it's not encouraging people to come back to the work force. drivers that were driving for them before still haven't returned in full force, but they expect as we see those benefits to sunset in the coming weeks and months, they do expect the drivers to return, and in some cities they are seeing that slow return already. surge pricing is happening in fewer and fewer cases, they say. the issue for taxis now is that many of them have been put in storage, the insurance payments have been suspended, and cab drivers, operators want to make sure the supply and the demand, that people are coming back to work, back to the office and will need their services before they start paying to put those cabs back on the road are. analysts expect that to be resolved by the end of the summer. but for now, expect to wait a little longer and pay a little more to get around, liz. liz: well, a lot more in some cases. you could puck out anything, you know? santa monica to lax, we started

to look at some of these, we can put them up on the screen here. or say, for example, a suburb in illinois to, you know, o'hare airport. it used to not be this much, let's put it this way, you know? you're looking at $52 an uber, and i just, i'm hearing horror stories. my kid, it was raining, and she said, mom, i'm going to run cross-town to the forly because the uber is, like, $160. and it normally should be about $45. so it's a tough time. all right, thank you very much, ya with hu. lydia hu. deep in the heart of texas the, some of silicon valley's biggest names heading to the lone star state. up next, we've got the venture capitalist who helped bring palantir, boring company and vo of oculus to life. why did he really join the mass exodus from california to

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♪ liz: oh, we just got this breaking news, microsoft topping the $2 trillion market cap level for the first time just moments ago. the dow member today hit an all-time high for the second day in a row, joining the ranks of apple and crossing over that $2 trillion. apple did it in 2020. see this level? 256.56? we need for microsoft to close at $265.55 or higher to make it a done deal, to have closed above or at a $2 trillion market

cap. microsoft, mr. softie mr. speakerring that muscle right now. it's been a -- flexing that muscle right now. a slew of ipos, 17 to be exact, are hitting the public markets this week, but the biggest one, full truck alliance which raised $1.56 billion now valued at more than $2 the 4 billion. 24 billion. now, this company is the uber for trucks, and it's jumping in its nasdaq debut. first trade was at 1:35 p.m. eastern time. it is up about 12% at this very moment. does this portend hot fun for start-ups this summer alling to climb up onto the public stage? aiming to climb up onto the public stage? angel investor joe loans dale, cofounder of palantir, whose stock is up 173% since going public last october. joe joins us now in a fox business exclusive. joe, i mean, 17 upos.

i do want to say, it's pretty incredible, isn't it? what does this flurry e tell you about the desire and the demand for companies that are gutsy and beginning their life right now? >> thanks for having me, liz. well, you know, technology is the one thing that's really working in our society. technology was the hero in 2020, and it's where the most confident people are building, and it's touching every industry. so you're seeing a lot of big wins there right now. liz: yeah. you obviously transplanted your company from silicon valley, now you're in an angel investing company, to austin, texas. and you launched this fund 8vc opportunities. what kind of companies are you looking to fill your fund with? >> sure. and, you know, angel investing is something we to a little bit in the early stage. we manage about $5 billion in committed capital, so we're series a, series b, later stage as well, and we're looking for things that are possible now

that weren't five years ago. there's a revolution in biology going on just like you mentioned the chinese company, there's a lot in logistics. a lot of people who run these big old logistics companies, and they're waking up and saying, wow, the way we do some of these things is really stupid. and industries are really changing a lot right now thanks to new technology. liz: you just talked about logistics. what about a.i. which was such a hot word over the past couple of years? artificial intelligence, data, lidar, you were cofounder of palantir, big data company that's getting all kinds of contracts with the government. >> palantir's had a real strong few years. we saw it 18 years ago, and my cofounder was the best paid fortune 500 last year, i thought that was a cool milestone. data and a.i. are a really important part of this. it's kind of like you use the cloud, you use a.i. as a tool to

solve problems. usually companies are bringing data together, and a.i.'s one of the day that when you get data together, you make things work. the hard part is solving the business process and getting data all in one place to let you have value. liz: does anything look frothy or a little too hyperactive right now? i say that because we've got the situation with crypto and crypto stocks. cryptocurrencys have had a rough 24, 48 hours here, and this comes after last week when michael, the guy who was me moralized through the big short for making multibillion on betting against subprime mortgages, he put out this tweet last week which he's since deleted which i don't quite understand. either you stand by it or you don't. but he did say he was worried about speculation in retail, you know, meme stocks, etc. and he said, watch out, the mother of all crashes could be coming, the losses could be the

size of countries. you know, do you worry about something like that when you see the meme stock hysteria? if or do to you look at that and say, well, you know, what will be will be? when the fed moves, maybe a that's not to going to be the trigger. >> you know, in venture capital, you learn when some things do well, they just keep going. if you would asked me microsoft was going to have a $2 trillion stock like that, that would have sounded crazy. a lot of this crypto stuff, it's like bet against the baby boomers, betting against the banks and big government and a lot of young generation people who don't like the way the centralized world is working right now. they say, wow, these people are out of their minds, and cryptos are their way of betting against those. of course there's a lot of

speculation, but the overall underlying fact that the work should work in a more decentralized way, that's true, and you can see these things over the long term have some stellar performance for a few of them. liz: could i then surmise that if a good opportunity came to you for your fund that is crypto-related, would you bite? >> you know, i think the big thing for us is it has to be solving a real process problem. it has to be saying here's how the world works now, and here's how it could work better, and here's how we're to going to make the world work better based on the technology, so i think crypto could to that in some ways, but you'd have to be focused more on the process and less on the fact that it's blockchain. 99% of them are still missing that. liz: we're watching it closely. joe, thank you, and when you make some big moveses for your fund, we'd love i don't to haveu back. >> thanks, liz, i appreciate it.

liz: all right. preparing for life after the angels. not angel investors, not the angels baseball team, but the winged angels behind santorum torreya's secret -- victoria's secret. and from the angels to the queen's gambit, world renowned chess champ alan dressler was just9 years old when he won the world chess championship. he, i mean, this is unbelievable. he was ranked 115th, and he goes and wins the whole thing. fast forward 40 years, and alan now runs -- because he founded it -- the successful software giant hega systems. hear how he became a self-made billionaire. gotta hear this story. spotify, apple, google, wherever you get your podcast, it's my latest everyone talks to liz episode. just dropped. it's brand new fresh. i want to know what you think of it, let me know.

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♪♪ liz: l brands adding some style to the.as it prepares -- to the s&p 500 as it prepares to spin off victoria's secret from its bath and body works chain. of course, this is in the wake of a whole bunch of issues swirling around its lingerie division. the lingerie maker announced yesterday that its board is now led by a female majority. that news coming just days after victoria's secret announced it's booting the angels, right in it's looking for a full image makeover focused on inclusion called the rs collective -- vs collective set to focus priyanka

chopra jonas and megyn rap know -- megan a rapino. the angel campaign has been mired in criticism due to former ceo's ties to jeffrey epstein. l brands, the top performer on the s&p, it stands at $69.37 right now. well, as victoria's secret revamps its angels, companies are scrambling to coop up with esg guidelines, environmental, social and governance. yeah, right. [laughter] that hay be coming from the biden administration. oh, yes, it's charlie gasparino once again talking about the woke rules. hi, charlie. >> reporter: hey, liz. i'm talking about it because ceos are talking about it, liz. and from what i understand, ceos are now starting to line up outside the door of gary gensler, the chairman of the

sec -- not quite outside his door, but at least trying to get a call in with him, so to speak, so figuratively lining up outside his door to figure out just how far he's going to push these rules. because if he does what he claims he wants to do, liz, let's be real frank here, this is probably the biggest change in corporate governance requirements in terms of disclosures that has hit wall street and hit corporate america probably since the 1930s. this is really big stuff if he goes full on with this stuff. so ceos are lining up. they're trying to get, gauge how far he's going to go. and here's, based on some of the things he's said and inti if mated, what we know about these rules. it's a good chance it could get pushed, it could get voted on as early as the end of this year. so that would be pretty fast that he does it. he just announced the rules a couple weeks ago, and he gets the full commission to vote on it by the end of this year. the full commission is five,

five members, three democrats including himself, two republicans, so you know how this'll go. it'll go right down party line votes, and he doesn't care. he has no problem doing that. the real question is how far does he go, and, you know, the sort of conjecture is all over the place. the bottom line is this, liz: if and when these things get passed, it's going to be a full employment act for consultants like people at ernst & young and securities lawyers because companies are going to have to disclose their carbon footprint, disclose various diversity measures on boards and even this their corporate ranks. and then they're going to have to make sure those disclosures are 100% accurate and they take into account consultants, part-time worker. i mean, it's going to be a rigorous process and time consuming and costly. the exact number of the cost we can't tell you right now, but what i can tell you, the word billions is floating around. and that's what has a lot of

companies scared. banks, obviously, bug banks like j -- big banks like jpmorgan, they have, they can do this a lot easier than smaller public companies. can you imagine if amc has to really ramp up its corporate disclosures? they don't have a lot of money right now to do what they're doing, barely staying alive. can you imagine if they have to ramp up these disclosures? so you understand why this is starting to be concerning to the business community, and it's going to be a huge debate this summer and in the fall, liz. back to you. liz: extraordinarily financially onerous. i mean, we want to make it easier for people to start and run businesses. i mean, within certain guidelines. but, yeah, i definitely see that. charlie, thank you. charlie gasparino. ♪ liz: building a new portfolio does not have to be as complicated as, say, you know, putting together furniture. speaking of which, the how many base of assemble yourself ikea

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liz: folks, four minutes to go before the closing bell rings. we have to tell you the nasdaq is about to notch the 15th record of the year. it has seen gains of 115 points. why is that significant? it only needed 32 points to close at a brand new all-time record. with four minutes left looks like we'll see that. turning to microsoft. it is leading the nasdaq higher helping to cross the 2 trillion-dollar market cap a

few minutes ago. it needs to be at or above $265 a share. to close there. we're slightly below that by pennies. you have to stay tuned, right. we have to see nasdaq hits a record. we'll see if microsoft closes at two trillion in market cap for the very first time. europe is open for business but does that mean you should open up your portfolio to europe as well or just two countries? mark luschini, 90 billion assets under management, has two countries he said you should be considering at the moment. i want to start with sweden. this of course the home of great companies. oatly went public. that is a good one why sweden? >> europe is poised to do well with the vaccination campaign largely lagged united states but has a good glide path.

many comment about reopening. sweden specifically though is a highly industrialized country whose companies tending to very economically sensitive. they're highly geared to global accident economic activity. exports represent about 65% of sweden's gdp. it synchronizes global up shift, as consequence of reopening but a massive amount of stimulus the governments put into respective economies around the world. others including the united states if infrastructure programs are likely to follow. we think an industrialized country like sweden leeds to advances, led the equity market the omx to be one of the best performers in europe this year. liz: great point ewd, this of course is the i-shares, you get a whole basket full of names. you wouldn't be buying at least at the highs. your second country switzerland.

there we want to show people ewl. that is the etf that encompasses a lot of swiss companies. why do you like it? >> similar story as it relates to europe. however you're looking at the composition of the companies in ewl or the swiss etfs. they're much more defensive in nature. health care companies. nestle's a big food consumer staple conglomerate with a global franchise. this would be an approach that one would adopt by saying i like the play on global synchronization and should highly benefit a economically sensitive country like sweden but at the same time we should see modest deceleration in growth going forward the second half of this year, still above trend out into 2022 and 2023 we might like to take a barbell approach which we take advantage of some of those more defensive companies. therefore allowing the portfolio overall to weather if not

percolate almost regardless of the economic outcome as long as it is one of global economic growth that remains positive which clearly is what we believe will likely to see take place. [closing bell rings] liz: mark luschini of janney. great to see you. we lost half of the gains for the dow. still up 2. it is a record for nasdaq which gained 119 points. ♪. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. so sheer raw, brutal, political power is our topic this evening as the senate debate as motion to proceed on s.1, that is their big election takeover bill. to quote senate republican leader mitch mcconnell this election takeover bill is a partisan power grab by the left to rig the rules of american elections permanently in their favor. mitch mcconnell also