the cpi report was okay, it could have been worse but still the worst since 1981 so be ready the last hour of trading liz claman, over to you, once again. liz: [laughter] the markets go from cheering to booing charles? charles: yet it quickly. it's a sobering thing and then we say gosh that still ain't that good. liz: they are worse than philadelphia eagles fans, they will just turn on you, charles thank you very much, suddenly concerns setting in over crippl ing inflation numbers within about the last two hours, all three majors lost their gains after reality set in, we saw the consumer prices rose the fastest in more than 40 years, but even so there are a lot of talking heads saying we've suddenly hit peak inflation and it's going to be fine from here.

our floor show traders are getting in their chairs to explain the market action, reaction and what they think everybody should be doing right now. millennials miss the 1970s inflation and 80s stagflation but they have been present for the no commission trading revolution, the she wolf of wall street is here to tell us why her trading platform is shooting arrows at robinhood and why she thinks the reddit rebels could cash in better on her platform. the zingaroo ceo is in a fox business exclusive and apple ceo warning big government about tightening on big tech. what tim cook had to say about the data industrial complex and why it could hurt iphone users if d.c. adds a new layer of red tape, we've got a live report on tim cook's comments at the capitol. and crypto dad launching project lithium today to find out if the u.s. is ready for a digital dollar from the central bank. former commodity futures trading commission chairman christian

carl ox is here with charlie gasparino to explain how this would all work, you need to hear this but let us begin with a fox market alert traders having a morning after with the dow showing a swing of 462 points from peak-to-trough, and we're kind of still stuck in the trough here we're down 51 points for the dow if you look on the intraday charts you can see the reversal particularly on the nasdaq. take a look at that one after hitting a session high of 273 points, just after 2:00 p.m., boom. to the downside it reversed an early rally and pinned on hopes that inflation had reached its peak, but the consumer price index, which came out 8:30 a.m. this morning, nothing changed between 8:30 and now, except people woke up and realized wait a minute wait a minute. the actual number of 8.5% year-over-year is higher than the estimate. that means that we are seeing inflation continue to climb and now it's at the highest since december of 1981, but former dove federal reserve governor ly

ell brainard went full on hawk telling the wall street journal the fed is committed to bringing inflation back down to its 2% benchmark and the runoff of its $9 trillion balance sheet could begin in june. well inflation hitting u.s. consumers with march particularly if you pull this all apart, food prices, we're talking about meat, eggs, milk, fruit, oil, all seeing increases of 10% or more, and vegetable prices rising about 6% prices at the gas pump for the month rose 48% year-over-year with utilities jumping 22%, oil has rocketed 70 %, but what does this mean for interest rates? well the 10 year treasury yield, which got very close to 2.8% in fact it did hit it yesterday i believe, briefly, dropped from that point, that was a three- year high, but as the news came out, we saw it dropped to about 2.70%, we're at 2.72% right now for the 10 year, so as so many people have come out

today and said don't worry don't worry, we just hit peak inflation, and things will calm down from here is that true , will this be the last month inflation is red hot? let's bring in the floor show joining me in a fox business exclusive former white house council of economic advisors chairman tomas filmson, and call bam capital management, gary kaltbaum. professor, i want to start with you, far be it for us to question the market, it's a gigantic voting machine, this morning it was voting for stock investing even as inflation continued to rise, now it's voting against it at the moment. i've lost count of the talking heads in the past several hours said oh, we've seen the worst of the inflation cycle. have we, sir, is it downhill from here? >> i don't know if it's downhill, but i no one thing and all of this inflation comes from 1600 pennsylvania avenue, the white house. basically, people have argued, so today we had about half of the energy in the cpi and people have wrongly argued, i think,

whether we should talk about before or after putin into ukraine and grabbing up energy prices. that's a foreign policy failure as opposed to fiscal or monetary policy failure, which generated broad inflation before putin, so i think all this basically is caused by the inflationary policies at the white house and i'm not sure it'll stop any time soon. liz: professor over at the university of chicago when you have huge classrooms full of students hanging on your every word and they want to know how many rate hikes do we expect to see , this is very much at the federal reserve's feet now. what do you expect for the next meeting? what do you expect for the following meetings? 50 basis points for how many meetings to get this under control? >> yeah, there's a lot of tougher talk coming out of the fed, but there's a lot of easing policy still in place, so we have real rates, meaning inflation, real nominal interest rates minus inflation are still

very negative, so it's easy money for those guys who want to borrow. on top of it the fed wants to shed off its balance sheet by 95 billion a m and that's going to take them about four years to come down to pre-pandemic levels about seven or eight years to come down to levels before the financial crisis. i bet you there's going to be another crisis before that's over, which can have them tick up again. liz: well he makes a point, gary , that i don't see inflation suddenly turning around, and cooling down and suddenly just all you see is steam, because the fires out. do you? >> no, and i see no chance of it and look, there will be some things coming down but when i look at my screen which is just to the left of me, whether it's copper, wheat, soybeans, cotton, you name it, they are at multi-year or decade-long highs , so i think you've got to be careful about all this talk. i always love when they say exclude food and energy, which is the most important part of

the equation. i don't know who came up with that little formula to put out there, so i'm worried, i think the lower income and lower middle class income are being crushed right now. the worst acting stocks in the market over the last few weeks have been all consumer- oriented. the best stocks have been all the inflation trade and i think the markets are pretty smart. i think they have a voice and i listen carefully. i don't think much has changed and by the way, today oil price is up another six bucks if not more, and i just think you continue to be careful and don't get too sanguine just yet. liz: gary one thing that has come down are some of the high- flier good quality stocks and yesterday we had billionaire investor marc lasry on of avenue capital and i asked specifically about tech because there are very good names down 10, 15, 20, 30% here is what he said why he likes them now, and then i want

your response. >> i think tech has come in quite a bit. part of that is simply because a lot of money has flown into that space, so i think what you're seeing now is theres been a re pricing and that repricing actually is pretty positive, so i think now with that new re pricing you're going to see even more opportunities that are there. liz: gary, you're not quite there yet. you say you have a "ton of cash" and you're waiting, for what and when will you start scooping up some tech names? >> well i'm a growth stock and tech manager and i own not one share of any growth stocks or tech stocks right now. what you have to realize is the xlk, which is the main exchange traded fund for technology, is up like 11- fold since the bottom of the bear market, and i just think it's so far, too fast, and i think all these names got over

-owned, over-loved, over- leveraged and over- expensive, and i think they are going to a bear market right now, and i just, look, 15% of the nasdaq is already down 50% that's good news. i just think there's more to go and just in the last few days, they're coming after the biggies , because a lot of money has been parked there because they are more liquid so coming after microsoft now, google, amazon, and the like, and if they come after apple on earnings i surveillances you'll see a lot more in the indices so it's a matter of timing. ten years from now the biggest winners will come out of technology because you'll find companies that are doubling their business every year, if not better, and you'll find five and 10 baggers, you just got to let this pass and i don't think we're there yet. liz: professor, can i push you a little bit harder on what the fed does in the next three meetings, because i really want to know. do you think it's three 50 basis point hikes or some other, you know, some other combo i guess.

>> i mean, the market prices indicate that on what we have on market prices reflecting of expectations that it's a 50 basis point hike in the future, but i think in general, i think we see with this policy discussion around the fed is kind of groundhog day for what i call two-phase policy people where the fed with the price controlling credit markets can dampen the business cycle without stirring up inflation, and its proven wrong and wrong again and here we are again and the one hand they believe in the fed to be able to do this , and on the other hand they are complaining they can't do it such as larry somers saying this is way too late to put on the brakes, et cetera, so it's a common thing when thing go wrong that these people believe that they do this. i'm not one of them but there are always two-phased when it

comes to trouble. liz: really quick, gary. >> just the fed continues to commit economic malpractice. we have 8%-plus inflation and he's sitting at a quarter percent fed funds. he is, i can not believe how far behind, and all they keep telling us is what they are going to do going forward. he needs to do something yesterday. we still have two more weeks to go and everyday he does nothing is a pretty bad day, because if inflation takes another leg up from here, we're talking late 70 s and that's not a good thing. liz: no, horrible horrible. again, let's be clear, 8.5%, gary, thomas, professor great to have you thank you very much, both for joining us. we have this fox business alert and it continues on the inflation threat here. used auto prices saw a 35% spike year-over-year in march, and used car retailer, carmax says that's now precisely why the company missed its quarterly profit estimates. shares hitting the skids down 8%

at this hour, carmax blaming expensive car prices combined with the disappearance of government stimulus money. carmax did report a 49% increase in revenue year-over-year but coming into today, the stock was already down 20% year-to-date. the inflation gremlin at work on albertson shares sinking despite the grocery chain swinging to a profit from last year's loss however outlook missed estimates after the chain which owned safe way, and other grocery chains said high prices and labor shortages so the stock is down 6.5%. beyond meat already sells at albertson's but now the plant- based food company expanding meatless beyond chicken tenders to 8,000 new grocery, pharmacy and big box retail locations, not quite helping the stock at least right now, it did at the open but now we're down about 1.6% for beyond customers will now be able to buy the products at sprout, kroger and cvs locations nationwide. education technology company

genius group skyrocket ing on its stock market debut after pricing at $6 a share. this is a singapore-based firm and its seen volatile trading with a number of halts but raised 22 million in gross proceeds, so this is highly unusual, folks. we're seeing a 433% jump ingenious group limited right now. company plans to use the money raised for further development of its educational platform. better end up, you know, at harvard or something for that. wow, pretty big jump. it is a jungle out there in the world of investing and the self-described she-wolf of wall street making it her mission to make it a safer place for millennials to invest and she's doing it by bringing the reddit apes into her training den, zingaroo zoey barry joins us and you got to hear what she's doing differently from the

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liz: i'm just pulling up shares of robinhood. they are up about a quarter of a percent as the company continues to capitalize on the crypto craze. the online trading platform announced that starting today, customers can buy and sell four additional cryptocurrencies through robinhood crypto. you want them? some of you are driving right now, don't drive off the jersey turnpike or anything when you hear that shebi enu is included here, polygon, solana, and compound. those are the brand new crypto listings that you are trade, but just as brokerages like robinhood, just as brokerages like charles schwab had to look over their shoulders when robinhood entered the arena now it's robinhood, a favorite among the little en quality and reddit investor crowd that has challenge challengers of its own zingeroo wants to become a

leader in the retail investor space by luring chat room investors away from all of the others at the helm of the company is woman known by her colleagues as the she wolf of wall street. joining me now in a fox business exclusive, zingeroo founder and ceo zoey barry. i don't know if that's a good thing -- >> he was a bad guy but i'm a good gal, so -- liz: let's find out how and why you're good for these investors who many of whom i think you're targeting are the ones that had come into during let's say the pandemic and the lockdown, as brand new investors who realize wait a minute i can take control of my own investing. how are you luring them away from some of the other bigger names? >> sure, so we offer a trading platform where users can trade equities, fractional equities, options, eft and crypto coming soon, but we also launch differentiating features. one is a feature called bullpen which is like a chat group where you can trade sharing techniques with your friends, and you can also share verified trading card s so it's a real trade made

on zingeroo. we understand your performance, it's not a sketchy screen shot that may have been somebody else's you're sharing on an online forum and we launch a concept called zone which are competitions and they are the leaderrer board and certainly i've seen how the market changed over the last couple years and the last couple of months, and people who had, you know, buy the dip strategies that may have been successful over two years need to deploy different strategies in the coming months, and so zinger oo brings that transparencies to the users, a layer of education and streams of data as well. liz: and zero commission, correct? >> zero commission on equities, fractional equities and eft, yeah. liz: how do you do that, because that became a problem with robinhood, zero commission and of course everybody started to talk about wait a minute there's a middleman payment for order flow, am i getting the best price when i press the buy or

sell button? >> yes, and our business model focuses more on subscriptions so we offer different subscription packages that you can sign up for , and there's more data along each of those subscriptions, so depending on how frequent a trader you are, if you're more into options or you want to understand history trading what is nancy pelosi's husband doing we pull in that data so you can pick the right data package for you. we also just launched a feature called premium zone, so the first premium zone is dropping today. you can sign up between now and thursday, and that unlocks a new and very differentiated revenue stream for zingeroo. liz: zoey i could be wrong but from what i understand this really does look like not necessarily a safer way but a more legitimized way. you talked about how people would put screen shots of their accounts up and say oh, look what i just bought this many shares of gamestop. who knows what kind of market manipulation. have you been worried about

regulators breathing down your neck just as they have robinhood s? >> well we have a very positive relationship with regulators so i do think that's different than some of the other platforms that have ipo'd in a recent year. we have a trading advisory board , education advisory board so we take the lens of look, there are good things happening with transparency all of our users go to the kyc and aml process so you won't get trading information from someone who is in an online forum and that's pretty dangerous and risky for what i've seen as people trading in a petri dish in one place and going to online forums where strangers on the internet are giving them advice. liz: that has been a definite concern so you put this all under the same platform. i know you don't brake out your user numbers can you tell me if you're seeing growth quarter-over-quarter? >> significant growth and interestingly, we're also seeing difference in trading patterns across each of the generations and in this market i think

that's also important. i've seen, you know, gen x'ers will issue a stop loss order and auto liquidate their position when they are down 10 or 15% and then they don't necessarily buy when the price comes down, and so i think that's an area for that generation to improve on, millennials tried and true love to buy the dip and you see gen z'ers, deploying slightly more sophisticated trading strategies. they are really very into understanding the criticisms that is leveled at them. they have never been through a bear market before. we saw them really sharpen their pencil and deploy i'd say a pretty differentiated trading strategy. we saw a lot of interest, for example, on sqq in january when the feds were moving liquidity from the market and that was a pretty sophisticated and not expected trading technique from that generation. liz: in fact, you know, we just put up some of the leader board stocks on zingeroo, actively traded or chatted about and among them it's not the crazy

ones, yes, sun dial, that's a weed stock, but you've got nvidia, at&t, i believe disney is also on there, tesla, which is a favorite among certainly that crowd, but i look at this and i say you know what? this may very well be an opportunity, certainly for people to educate themselves more and we'll be following it, zoey, thank you very much for joining us. >> thank you, liz. liz: the companies called zingeroo, zoey berry is the she wolf. tim cook warning global governments to keep their hands off his iphone. what the apple ceo has to say about potential anti-trust regulation and what it could do to your privacy on his products. come on, you know you're holding some type of apple product, rosenstein it? we're going to take you live to capitol hill for exactly what this may mean, closing bell 36 minutes away, dow down 127, red on the screen, only the russel and the transports are holding on the gains.

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liz: breaking news, you are looking if we can take the live picture at a massive traffic jam at 36th street and 4th avenue station, this is sunset park brooklyn, a massive manhunt in the area still going on at this hour, after a gunman opened fire on a subway car, shooting 10 people at the 36th street subway station in sunset park. of course this is in the brooklyn, police are looking for a u-haul truck with arizona license plates and connection with the shooting, officers have been told if they see the u-haul in traffic, they should stop it and detain anyone inside, 16 total injuries after a man wearing a gas mask, released a device that filled a rush hour train with smoke before opening fire. police are searching for an african american man about five foot five, who was wearing a construction worker's vest during the shooting around

8:24 a.m. eastern time. five people are in critical condition, all are expected to survive, police say they are not treating this investigation as an act of terrorism. we will keep our eye on the situation bring you any details as they come in. apple ceo tim cook made his case to keep the app store secure for iphone users at the international association of privacy professional summit in washington d.c. today. the ceo warns against new privacy regulations that would allow users to download apps from third party sites saying consumers be put at risk to hack ers or malware. apple's up three-quarters of a percent let's go live to washington d.c. convention center where hillary vaughn is at the global privacy summit and heard the whole story hillary give us the details. reporter: good afternoon, liz, well apple ceo tim cook really repeated comments he has continued to make in the past year, warning about anti-trust regulation that is targeted at

trying to increase competition but cook warned today as he has in the past several months that the regulations that washington is weighing may have good intentions to try to increase competition, but in reality, could put users at risk by exposing them to products that do not meet apple's privacy and security standards. >> that means data-hungry companies be able to avoid our privacy rules and once again, track our users against their will. it would also potentially give bad actors a way around the comprehensive security protections we've put in place. reporter: so lawmakers on capitol hill have introduced legislation that mirrors europe 's digital markets act that forces tech companies like apple to allow users to use rival products on their platform s or on their products. for example, apple would have to allow users to download apps on their iphones without using the actual apple app store.

>> apple believes in competition but if we are forced to let unvetted apps on to iphone, the unintended consequences will be profound and when we see that, we feel an obligation to speak out. reporter: so liz, tim cook speaking up today as he has really trying to put the pressure on lawmakers to not move forward with several different pieces of legislation that have not passed congress yet, have not been signed by the president, but certainly have advanced step-by-step towards actually becoming law if enough lawmakers, bipartisan groups, support it and of course if the president does as well. liz? liz: hillary thank you very much hillary vaughn. is the central bank digital currency closer than you think? a at least here in this country, charlie gasparino has details on

the digital dollar project code named "project lithium" and he's going to break it next closing bell 28 minutes on the way keep your eye on the nasdaq now it's down 84 points had been up 273 so we're looking at lower lows here at the moment and the dow now it's down 201 points. trelegy for copd. ♪ birds flyin' high ♪ ♪ you know how i feel ♪ (coughing) ♪ breeze driftin' on by ♪ ♪ you know how i feel ♪ copd may have gotten you here, but you decide what's next. start a new day with trelegy. ♪ ...feelin' good ♪ no once-daily copd medicine has the power to treat copd

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commodities futures trading commission chairman and author of "crypto dad" christian carlo, along with charlie gasparino. charlie: cbd, isn't that pot? liz: cbdc. see , you know, chris this is what you get -- charlie: liz, let me ask you this. >> great to be with you, liz on the countdown, charlie good to be with you again. liz: thank you. charlie: because we had this little debate before, we were saying the u.s. government as it moves towards creating a digital currency, who in the government would do would it be the fed, the treasury, why doesn't congress get to vote on something significant like this , could you walk us through it a little bit? >> sure, well look, i think all of the above will have to be involved in this as well as the private sector have to be involved, you know, moneys as much a social construct as it is a government construct, and in a democracy like ours, it's vitally important that the private sector have a lot to say about a digital currency, what that would look like. charlie: let me ask you this before i turn it over to liz. what is the purpose of the

government creating a digital currency, when the whole notion of decentralization of digital assets and that are decentralized that's the whole lure here, is to be away from the government and the ability of the government to borrow and create, you know, create money out of thin air, is that fiat currency, i guess is that the right word for it? but you understand what i'm saying. isn't this kind of an oxymoron here? >> but you know, if you look at history, governments have always been involved in money, whether it was caesar's head on a coin, or otherwise, governments have always had a role to play and yet at the same time, there have been asset classes like gold, for example, that sit outside of the government role that money, that serve as a check on government spending and in a lot of ways as we go into this new digital future you see a digital goal emerging in the form of perhaps bitcoin that might be a check on government efforts to

maybe inflate their way to prosperity which never works, in the form of digital money, but charlie, the point is that every major central bank in the world today, everyone, is working on some form of digital currency, and as we go into a digital asset future i think that it's somewhat naive to think that our own government won't be involved what's important is that the private sector be upfront and start laying down some markers as to what a free society expects if government does go down that road to create central bank digital currency. charlie: i want to correct you about one thing maybe it's not bitcoin or it might be xrp people. liz: chris i want to bring up stablecoins because as we're talking about regulation and government you have senator pat toomey of pennsylvania coming outputting fourth this idea of payment stablecoin, sort of a new definition its got to be redeemable for fiat currency and

its got to be, you know, limited assets that are cash or cash equivalents, level one, high-quality assets. where do stable counsel's fit into this , because if the government is going to start regulating these things word is they go to stablecoins first. >> well i'm so glad you actually mentioned senator pat toomey's leadership because he has brought such a thoughtfulness to this in congress it's really refreshing to see that kind of thoughtfulness. in my own book and thank you for mentioning it and my book " crypto dad" i talk about perhaps a future that might be the most ideal one, at least from a point of view of a free society and that is where you've got both stablecoins and central bank digital currency working together to give citizens the most choice of what to use. you know, it maybe in certain cases, believe it or not, that a central bank digital currency, because it's governed by the fourth amendment might give us the greater privacy rights than say a private sector digital coins operated by big

tech companies, which we've seen in the internet of information, aren't necessarily the best guar antors of our privacy or unwilling to censor us which they do in the internet of information, so a future of choice might be the best one of all. charlie: chris you give pat toomey high marks for being a thought leader on this. how would you grade gary gensler , the sec chair? >> well look, gary gensler was my predecessor at the cftc. he's now at the sec. i'm not in the business of criticizing a former chairman, having been one myself i don't want to open the world to criticizing my work. what i would say is i do think it's vitally important for congress to step in and do one thing more than anything else, and that is declare that the united states has a national interest in becoming a leader in the development of digital money , whether that's private or sovereign, we need to take leadership here and only congress can say it's the u.s.'

national interest to lead in this innovation. liz: chris giancarlo, will you come back? >> i will. liz: okay, thank you so much, it's a big story, it's sort of in the early stages so we need your perspective in the future. we've got to tell everybody that president joe biden speaking of which he's live in the hawkeye state right now, today bringing a new plan forth to make an effort to bring down sky high gasoline prices. he's scheduled to speak in iowa at any moment. we're going to have the details on this new plan when we come back. and as ukrainian forces gear up to counter a large offensive from russia and this is going to be in the east, there are legion s of people who are fleeing that area of ukraine. i've spoke with the former green beret whose company has safely evacuated more than 8,000

civilians out of the region since the conflict with russia began. dale buckner, the ceo of global guardian, joins us in this weeks edition of everyone talks to liz my new podcast that just dropped today. how he's using his military expertise to extract under very dangerous circumstances thousands of people, right now, as we speak, right now, and nobody, not any of his team or any of the people have been hurt yet, thank goodness. you've gotta hear how he's doing at apple, google, spotify, get it anywhere you download your podcast, closing bell 15 minutes away we still have the dow down about 122 points but just a few minutes ago it was down 200 so we're moving all over the place here but mostly in the red. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information.

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liz: at any moment now president joe biden is set to speak in men lo, iowa where we will announce plans to suspend the rule that ban higher ethanol gasoline sales in the summer. if you look at sales at the moment you can see they are up 5 % today, but year-to-date, its been a very ugly picture, okay? year-to-date we have seen the price of gasoline jump about 36%. now the biden administration says the emergency waiver which only applies to about 2,300 gasoline stations mostly in the midwest and south will save drivers an average $0.10 per gallon. now, usually, the epa bans the sale of 15% ethanol blends between june 1 and september 15, over concerns specifically that it adds to smog in higher temperature areas, iowa is the country's largest producer of corn and right now corn, which of course is used in ethanol, is up about one and one -third percent but we know

what its done certainly since the start of the war in ukraine. let's go" to edward lawrence joining us from the white house. $0.10 difference for parts of the country. what difference is that going to make? reporter: yeah, you know, liz in effect that processing plant that the president is touring right now, it's the largest first-generation producer of corn for ethanol in the country. that company is one of the forum s is going to announce we're talking about the e-15 waiver. the epa is going to issue an emergency waiver for that to allow that gas to be used throughout the summer and into mid-september. now we're talking about an emergency authorization for this. that's a blend of gas that's made with cornstarch now it causes lower gas mileage, increases smog in some areas still the president wants to take this temporary measure because americans are seeing it at the gas pump and we see it in the inflation report all types of gas went up 48%. white house economic advisors believe the actions the president has taken will

work. >> the president has been trying to talk to producers to make sure they are hitting their quotas to make sure they are hitting supplies and he's in iowa today talking about increasing the supply of e 15 ethanol and gasoline and this waiver to allow that sale and production will increase the supply of gasoline between june and mid-september. reporter: president biden has not announced any or has not answered any questions about the headline inflation at 8.5% the highest level since december of 1981, core cpi inflation at 6.5% the highest level since august of 1982, this is the first inflation report that includes data from after the invasion of ukraine and those prices can be seen in all the stuff we buy. if you just go down the sectors that have been in the news lately used cars, they are up 35.3%, you talk about new cars, the price of those are up 12.5%,

men's suits for example, up 14.3 %, and women's dresses are up 10.1%. the problem is that the stuff that the companies are making are more expensive, because they are having trouble getting supplies, one, to get it there, the transportation of it is also more expensive. the bottom line is the trajectory of inflation has not been where this president wants it, liz? liz: edward thank you. prices just up, up, and up. nice to know men finally pay more for their clothes than women, usually it's the other way around. edward thank you very much. as oil pops back above yes, it's back above $100 per barrel right now it's at $100.53 at the moment today's countdown closer has the one company he says is sitting in the energy sweet spot he's going to reveal it next, closing bell eight minutes away, we do have the dow down 112, s&p lower by 17, the nasdaq down 39. folks the russel is up five, i

think our countdown closer likes smaller cap names too he will name those as well. you can't buy love. happiness. or confidence. but you can invest in them. at t. rowe price our strategic investing approach can help you build the future you imagine. ♪ ♪ . .

♪. jo the s&p and nasdaq are looking at three down days in a row with the market closing at lowest level since mid-march. we're up off the floor. that is the good news. s&p down 14. the nasdaq lower by 33. oil and gasoline are also off their peaks since the start of the ukraine war but natural gas, that is quite something. it is still up 45% since the start of the war. our countdown closer says he has got the energy name that is best positioned to fuel up your portfolio by focusing specifically on natural gas. joining me with one billion dollars in assets under

management, payne capital management president ryan payne. okay, reveal the name and tell me exactry exactly what its role in the natural gas world is. >> i like diamondback a producer here in the u.s. europe has to look elsewhere for their natural gas and fossil fuel needs in general. they will look away from europe. they will look to the u.s. the u.s. producers are making money hand over fist. this stock is up 25% this year. this will grow 25% over next five years. what i like they're very disciplined with their capital. they're not going back to produce more and more. looking to pay back 50% ever earnings free cash flow to shareholders. i think right now if you look at the u.s. producers this is one of the better ones positioned. it trades cheap, six times forward earnings. liz: yes, we like not overpaying

things. tell me about a large cap name you also believe is greatly positioned here because at this point there is a massive demand to replace russian natural gas with gas from other places? >> i think you can also look at shell as a great example of they're the predominant name in europe with natural gas. not only for natural gas but they're transitioning to more environmentally friendly fuels as well, not fossil fuels. they're well-positioned for both transitions. when you think about europe specifically, the natural gas prices gone through through the roof. they will wane themselves off russian natural gas in the next couple years. they're the best play in europe for that. that is great play to have in your portfolio now. liz: we're looking at slightly red day. the dow down, s&p lower. it is the russell that seems to be clinging to some gains by a third of a percent or seven points. you do like a small cap name. let as talk about that and where you see these going.

>> i think small caps in general, they're more sensitive to the economy. if you're like me, you believe the economy is going to do well i like small caps. i like the signature banks specifically. the small regional bank. they have been profitable for the last five quarters. five of next six quarters growing up their loans, growing up their deposits. liz, last time i checked, interest rates are going up, i'm getting half a percent on money market fund. banks are cheap, growing very fast and small caps in general tend to benefit from the fact that the economy is doing better. as we get into the summer here i think we'll see a very, very hot economy, more lending going on and interest rates will continue to rise. liz: i'm looking at the annual high for signature banks, 374 bucks. we're at 269. you're not buying it at the high here, pe of 17. ryan, wonderful to see you. thanks very much for joining us. >> thanks for having me, liz.

liz: ryan payne, so folks, interesting day, 2/3 of the session markets in breen. suddenly decided, wait a minute, we have high inflation and it's getting hotter. [closing bell rings] it is not getting colder. it jumped less than expected on certain levels, maybe the core but inflation is still here and the market realizes it. that will do it for us. "kudlow" is next. e ♪. david: hello, everyone, welcome to "kudlow." i'm david asman in for larry kudlow. we start with a "fox business alert" from brooklyn, new york, where the news has been breaking. there was a shooting on a subway during peak commuting hours this morning. it injured 16 people. 10 of those victims are suffering from gunshot wounds, five of those are in critical but stable condition. several undetonated devices were also found at the scene according to officials. a manhunt is still underway for