effect. the bottoming process isn't a one-day event, it's a process, and i think we're in the middle of that process. i think we'll look back at the end of the year until now and say, okay, maybe that was an area i should have been buying. the next hour's going to be pretty crazy. liz claman's got you covered. liz: do not run out of the fake butter when i'm getting my popcorn. [laughter] that annoys me -- charles: yeah. there's a few things they've got to work on. liz: charles, thank you very much. what happened to sell in may? behavior on wall street not following the famous adage, but even with the wild volatility the all month long, it appears the dow and the s&p will clock gains for may. the nasdaq can, not so much. markets are losing steam late in the session, the dow looking at snapping its six-day winning streak the, a loss of 204 points. the last 31 days have shown investors are now disinclined to

scoop up momentum names at any price. our floor show traders are ready to spin it forward. will we see a june spike or swoon? you're about to get their predictions. we've got conflicting reports in the housing market. are prices steady the at record highs or starting to slip? and does the truth lie in a single google search term? ryan sir hand, star the of million dollar listing new york, is here to tell us if we're hitting a home price peak. and top gun: maverick, yeah, charles was just talking about it, turning on the afterburners setting a weekend record and then in the last few hours climbing even higher. imax ceo rich get fanned is here in a fox business exclusive on tom cruise, maverick's ticket tally and the ground breaking use of cameras in the cockpit and how that may change movie making forever. just under 59 minutes left to see if the bulls will own the

month. the blue chips with a loss of 209 points. if they end down 235 points, the win goes to the bears. less than an hour ago a win for the s&p looked like a sure thing, but now we're down 23 points. we are getting close to the 26-point drop which pushes it into the red for the month. the weakness, blame it on inflation which is starting to act like the house guest that overstayed its welcome. rising prices, sorry to say, are still here. the latest case shiller data the granted a lagging indicator that's about two months behind serving as ab annoying reminder for buyers that america's home prices are still the rising. the 20-city index shows home prices -- look on your screen here -- jumped a record 21.2% year-over-year in march. and inflation isn't just overstaying its welcome in american homes, it hit a record high for the seventh month in a row in the you know. consumer prices there the rising 8.1% year-over-year.

and if there's anything that that shows how ebb pensive things are are getting, it's crude oil and gasoline. west texas intermediate and brent popping in the aftermarke. they're flat right now at least the for crude oil, but earlier we were above $118 a barrel. we have brent, which trades overseas, of course, up about a third of a percent at the moment to 116. the european union reached a deal to block 90% of russian crude imports by the end of the year. so it really makes sense that ex-chemical manufacturer ash marl -- albemarle, devon energy, of course, as you look at the laggards, they include target and under armour as well as travel stocks expedia and royal caribbean. to the underdog the of the month, the nasdaq. it got pulmod by may's tech -- pummeled by may's tech the selloff.

the index's number one winner for may chipmaker advanced micro devices. everything's in the red right now. so as we look for the next month, will june make investors swoon, or will we see a spike? let's get right to the floor show and our traders. teddy weisberg and scott fullman. teddy, we're not rearview mirror here too much. so as we wait and see exactly how this market closes for the month of may, what do you see for june and why? >> well, i don't see any different in june, liz. i think the background for the market has changed dramatically. the last two or three months. if you are your portfolios are focused on yesterday's names, primarily tech and retail, you basically had -- you didn't have a very good month, and you haven't had a very good year. on the other hand, most of our clients have been exposed to what we would call the deep value plays, big pharma,

insurance, energy. we suffered pretty good the last three or four years when the momentum stocks were all doing so well, but this year it hasn't been, it hasn't been a positive year so far, but it's certainly way outperformed those folks that owned the tech stocks and is those portfolios that are populated with the tech the names. i don't want see that changing was the problems -- because the problems, liz, are not going to go away anytime soon. whether it's inflation, interest rates, whether it's ukraine or commodities, in particular agriculture stocks, it's -- these are the names that have done well, relatively well, and i think that will continue if you go forward. i don't think the fundamentals are going to change between probably now and the end of the year. liz: but, scott, would you agree that investors have really changed their focus in that the, again as i said, they are disinclined now to accept the growth at any price kind of names and just jumping in and getting the names that everybody seems to be talking about whether it's on reddit or whether you see it on business

networks like ours? i think that it's really important to get inside the name of concern mind of both the retail and professional trade ther right now. >> it's not just getting inside their mind, but trying to project what's going to happen going forward. you know, where are consumers going to be spending their money, you know, what companies are going to be the ones in focus? really, really difficult at this point, and it's like myself. i know a lot of other strategists around the street are running different models every day, running different screens and trying to come up with the best ideas. and the thing is the list is still pretty much on the small side when you're looking. so, you know, we're trying to figure out, okay, so which way are things turning. liz: exactly. >> moving away from buying things for homes right now, they're looking more for experience, to get out there. summertime is here, they want to get out, they want to do things and travel because travel has been held back since the pandemic started.

and, you know, while we did see a little bit of an uptick last year, i think we're going to see more this year. that's one of the reasons why we like some of these consumer discretionary stocks. but, you know, again -- liz: that's been the worst performer though. but, scott -- >> right. liz: -- i was looking here, consumer discretionary down 5% for the month compared to, you know, energy up 18%, real estate was down 5% -- >> right. liz: so real estate and the things that you want versus need have been the worst performers. >> so the thing is you have to go fishing and try to find those the individual opportunities in there like we like marriott international because we think people will be traveling, and people want to get out there and enjoy the summer. international gaming technologies, we think they're going to benefit from a little bit of a pick-up in some of the gaming hotels as well, you know? ordering new equipment. also we're looking for companies that are going to benefit from the rise in interest rates.

u.s. bancorp is on our list for that. and also we came across a very unusual one, little vax holdings which is a fin-tech company, an international fin-tech company. it looks fairly interesting, liz. liz: okay. all right. teddy, we've got to run, but have you got a favorite name right now in. >> i think insurance and energy, exxon. in commodities, ntr, and the big pharma, that's easy, bristol, pfizer and merck, all the names we own and will continue to own. liz: good for you. all right, teddy, scott, thank you very much. breaking news, a face to face between the president and the man who moves the markets. president joe biden just met with federal reserve chair jerome powell at the white house. this is the first meeting between the president and chair powell since he was confirmed for another 4-year term by the senate earlier this month. the meeting comes as president biden placed an op-ed in the "wall street journal" yesterday with saying he will back the

federal reserve to combat red-hot inflation. he will be hands off, right, hillary? hillary vaughn's at the white house. what can you tell us? >> reporter: hi, liz, that is exactly the message from the white house and the president himself. he spoke to the press sitting next to powell earlier. this meeting is still ongoing right now, but they made it very clear that this is not -- or the point of this face-to-face meeting is not a pressure campaign on the fed to raise interest rates faster to combat inflation, but instead the president says it is the fed's job to fight inflation, and it is not his job to meddle in the middle of it even though the fed is a big part of the equation when it comes to biden's inflation fix. >> -- address inflation, it start thes with the simple proposition, respect the fed. respect the fed's independence. which i have done and will continue to do. >> reporter: larry summers, the former white house economic

adviser under president obama, today saying he thinks that the fed troubled -- flubbed the response from early on. >> i cothe think there -- i do can think there needs to be the considerable soul searching at the fed as to how hay missed this -- they missed this as badly as they did. >> reporter: republicans say even biden's fix for inflation -- letting interest rates -- raising interest rates and letting the fed do its job -- does not have its own side effects. >> put jerome powell in a box. they're going to have to raise interest rates, and that makes it harder to buy a home, that's going to usually make the stock market go down as we've seen with the last few rate increases, and that's going to affect people's 401(k). jerome powell doesn't have a lot of options now. >> reporter: republicans are making the case that the best option president has is to do nothing, to not spend more taxpayer money. but moments ago national

economic council director brian deese briefing the press talked up more government spending plans. the, you know, push to cancel student loan debt, to raise -- or increase taxes on the rich and try to pay for some of these subsidies to encourage green energy. liz? liz: yeah. a little bit of -- [laughter] too much red bull. [laughter] the whole economy's jangled, you know? i agree, i think that the might be just a bit too much. and there are people on both sides of the aisle who think we need to stop with the stimulus. but, again, we shall see. hillary, thank you very much. hillary vaughn. tomorrow we are going to be joined right here on "the claman countdown" by richmond fed president thomas bar kin. we'll get his view on inflation. it's a fox business exclusive tomorrow 3 p.m. eastern only on "the claman countdown." and, by the way, these guys move markets too, so you've got to

listen to that one. home prices still stubbornly high, but one new survey is about to shock sellers and thrill buyers. it's starting to show some slight tears mt. housing price level. -- in the housing price. we're bringing in the star of million dollar listing new york, ryan sirh hand. of what he's hearing from the investors he works back. we are coming right back on "the claman countdown." ♪ ♪ living with metastatic breast cancer means being relentless. because every day matters. and having more of them is possible with verzenio. the only one of its kind proven to help you live significantly longer when taken with fulvestrant, regardless of menopause status. verzenio + fulvestrant is for hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor

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liz: fox business alert, take a look at unilever stock surging after announcing activist investors nelson peltz will join

its board of directors in july. stock is up 10%. the consumer goods company whose brands include ben and jerry's ice cream and dove soap says that pelts collectively owns some 1.5% of the shares and is now one of its biggest shareholders. peltz has served on several boards including competitor procter & gamble which unilever has underperformed over the past year. it's down 26% versus p&g which is up 10% over the same time period. all right. look at bitcoin, now back above $31,000 per coin of after topping $32,000 earlier today. crypto has endured nine weeks of losses. bitcoin which, as you know, trades 24/7, is up 10% since friday after jpmorgan chase strategist said the world's largest crypto is in the early stages of a price recovery. recovering a third of a percent at clash 31,661.

hive and coinbase are popping at the moment, hive's up 10%, coinbase up 2 the . we've got bitcoin not helping riot blockchain, it is flat to slightly lower. south african gold fields, $6.7 billion in an all-shares deal. shares are on track for the largest percentage decrease since march of -- 2020, down about 3%. the concern is share dilution. credit suisse says the premium agreed to be the paid was considerably higher than in other recent gold deals. we've got yamana up about 3.8%. and qualcomm telling the financial times, the ceo saying his company would be interested in buying a stake of arm holdings when the company goes public.

he also said qualcomm could join forces with other competing chipmakers to buy arm outright. nvidia's proposed acquisition fell through earlier this year. as qualcomm hopes to add arm strength, tom crude and top gun flexing its -- tom cruise and top gun flexing its muscles, going parabolic over the holiday weekend. >> thanks to tom, all the act ors are becoming aus tommed to g forces by all the training. >> it is aggressive. >> they're pulling 7.5-8 gs. that's 1600 pounds of force. >> i am so proud of them, what they've cone. it's the heavy duty. >> i'm okay. [background sounds] [laughter] liz: oh, my goodness. there is no upset stomach for imax ceo rich get monday --

gelfond at this hour, how his imax cameras captured all of that ging force action up close and personal. and we are going to get first reaction to maverick's fresh record-breaking numbers which just changed a couple of hours ago. closing bell 30 minutes away. we have the dow down 114. nasdaq has popped into positive territory again, 2.3 points. we are coming right back with rich gelfond of imax. ♪ meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪

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liz: i need you to look at an intraday of the nasdaq. the high of the session saw a gain of about 58 points. we have punched back poritirytorytory try,heo ightsligsl and nslow n wree' u99 .oin you sca theeereea appeaoppea be actionn behfhe bls,lsls if set strtrtrut o, torua qerrt s s h s s lost abostutut, dow dn2% yea y o

dnow1%r t tt 5 s. so, ,es,or f f f monheonhe gng g tng bi herer e that foratonth we h waveavav th n ndaqn d justtt 1.5%, tnde the t t s s j sust hralfall rc rc aittlit of o aound go nail-biter here. i'm looking at some weakness in the transports and the russell at the moment. here are the nasdaq can leaders and, again, we just audiocassette thed about this with scott fullman and the change in the attitude of momentum and tech stock investors over the past seven months. no longer is it really that let's pounce on anything that moves kind of thing. right now though the leaders, amazon. if you look at the low of at least this year for am, it went as low as $2,025. but right now it's at $2,434. we have mosaic which, of course, is a fertilizer company. that's a big play, certainly, as

wheat prices are have begun to jump. they've pulled back a bit, but mosaic is up about 5.25. under armour and dex come follow the rest of the list for the s&p 500 leaders. all right, watch this. >> you just can't create kind of experience unless you shoot it live. in order for us to accomplish this, we have the greatest fighter pilots in the world working with us. >> we're working with brand new camera system that hows us to put six imax-quality cameras inside the cockpit with the cameras. >> verify cameras are on. >> cameras on. >> there you go. >> it's amazing what we see in the cockpit, what an audience is going to experience. liz: well, producer jerry bruck bruckheimer and actor tom cruise promised and delivered. top gun: maverick torpedoed american box office records, every market.

the just like being there experience thanks in part to imax cameras mounted inside f-18 fighter jets triggered the sonic box office boom which within the last two and a half hours just got louder. so let me back up. last night box office numbers showed the two years' delayed sequel to top gun raked in about $156 million. that was a surprise domestically beating out the previous record of $153 million set back in 2007 by pirates of the caribbean: at world's end. now, as movie theaters decided it was a time to return to u.s. theaters post-pan demmingic and flooded the theaters, news breaking this afternoon that number is wrong. box office revenues were upwardly revised just a couple of hours ago to $160.5 million. did it change the future of big budget blockbusters? in his only interview since the record was shattered, we're

joined by rich gelfond, ceo of imax. rich, i think friday is the whisper per number was around, what, $135-145 million. today's new number sailed over yesterday's initial tally. tell me what you thought when you saw the first print of 156 million. finish enter well, liz, i actually think of the box office as global. i'm much more than domestic. liz: sure. >> was remember, on typical movies domestic is only one-third the of the worldwide box office. anyway, your number's impressive, but the global number is close to 300 million now, and the whisper number globally was 180. as of last thursday. and, you know, i did my own math. this is art not science, and i knew it would sail past 200, but i'm just shocked that it's up around 300. this movie is, has a life of its own i think because it's a

different demographic that -- than a lot of movies that fly at this level -- [audio difficulty] i don't think anybody predicted 303. liz: yeah. so nobody predicted 300 million, and you are an expert at this. you've been running imax a long time. you may say it's the art versus science, but over9 got it down in many cases to the science. a huge portion, more than half of the moviegoers, were over, let's say, a certain age, you know? more of boomer crowd, because they remember the first one. but that really holds more heft considering many of those people were less inclined to show up to the i movie theater because of covid fears, right? >> well, i think that was part of the math problem, liz, is that everybody thought that the experts thought that those people who remembered the first one and had nostalgia for it would come back, and a lot of them did come back. but i think one of the more

shocking things is how many of young people came, how many of the 18 to 30-year-olds came. and i think the analysts missed one big thing. they were saying, well, there was "star wars", whatever movie, a 1 and 2, but this was a 37-year gap, so a lot of the people weren't born when the last one came out. and i think the other thing that was unusual this time is this had a 97% rot. en tomatoes score, 99% consumer score. so people forgot it wasn't just a regular sequel, it was a e sequel that spanned beyond the lifetime of a lot of these people. and that was a great movie which i don't think anyone if really understood how deep that went. liz: i do. i thought the script was great. i was expecting a little bit of cliche action, it wasn't. they didn't play on maudlin emotions or anything. so when you pair that with great movie making -- which leads me to the question of the imax

cameras, when you look at exactly what the director did -- mounting imax cameras, the rialto the system where you could separate the lens mounted in the cockpit and put the recorder, kind of stuff it -- i don't know where it was, by the actors' feet, so that the actors could actually be in there during these scenes of, you know, the fights in the sky, i mean, i look at that and i really wonder the real dog fight picture, that's what we're seeing. give us a sense of what it took to develop the system for use in top the gun: maverick. >> i want to give tom cruise a lot of the credit. he's been antics max fan for 20 years -- antics max fan. [audio difficulty] mission impossible, and it was captured withics max cameras, it blew my mind. tom wanted to develop a camera that would the really give you the a feeling of being inside that cockpit.

and he was the driving force. our engineers and joe kaczynski and everyone worked at creating in the special technology because, as you know, everything in the tom's life is what's the next generation. what stunt can be better than any stunt being done before, what visual could be better than any visual, what sound -- i just actually sent him a text and said there'll never be another tom cruise because the guy's passion, his work ethic and his drive for perfection are just unparalleled. liz: well, his power is almost unparalleled. not only did he demand that and you guys were able to develop this system, he also promised to people who said would this be released simultaneously to streaming, he said that will not happen. i mean, what kind of star power is that where he can basically deem, no, this is going to be an exclusive theatrical release? that, of course, made a huge

difference, i'm sure, for box office, that it wasn't simultaneously put out on paramount +or what have you. who -- do other actors look at that and say i want to be like tom cruise, and will movie companies listen to them when they say i do not w5b this to be simultaneously -- >> well, there's a select group of actors ask and directors who have that kind of power. and i'm almost positive that tom put it in his contract when he first made the movie that was the way it was going to be released. incidentally, some of the streamers tried to mix it up and go online. there are directors and actors who put that in their contracts. and, you know, soon after the whole paramount+ was announced, tom called me and said, rest assured, this is not going there. [audio difficulty] this is staying theatrical. and he was careful and he was smart.

and he has the leverage to do that the, and he delivered the goods. i mean, we did 14% of the north american box office. even for a big movie -- [inaudible] because tom knew exactly the story he wanted to tell the, and he knew how he wanted to tell it. and internationally we did about 8.5% which even for the big marvel movies it's around 7. so tom knew how he wanted to shoot it, how he wanted to show it and did it. and audiences responded. liz: they sure did. and i loved it. i tried to see it a second is time the, rich, but everything was sold out. [laughter] i did, i tried. >> well, liz, you have connections. we may be able to sneak you in -- [laughter] liz. liz: i'll purchase the back. i need butteredded popcorn though -- >> i'm not sure we can deliver that. liz: that's harder than actually getting a ticket. rich, congratulations to you and the team at imax and to tom cruise. >> thanks, liz, appreciate it. liz: and if you're still feeling

nostalgic, why not take a look into your family history? this week i sat down with the president and ceo of ancestry to hear her story of overcoming her introverdicted nature at -- introverted nature as a child and then saying to facebook, you know what? i'm out of here, i want to lead a company. the latest edition of my everyone talks to liz podcast just dropped today. find it at apple, google, spotfy or wherever you get your podcasts. we will be right back. ♪ back then we could barely afford a hostel. i'm glad we invested for the long term with vanguard. and now, we're back here again... no jobs, no kids, just us. and our advisor is preparing us for what lies ahead. only at vanguard, you're more than just an investor you're an owner.

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♪ liz: more top-level departure at the securities and exchange commission have some on wall street saying that shines an unflattering light on gary with

gensler's leadership. to charlie gasparino. >> -- gensler, and we're getting this from multiple sources inside the sec. these are people that are staff attorneys that work in the enforcement division and elsewhere, and it's not just -- so it's not just the union that's chafing under him, it's the attorneys, the people that run the place are chafing. they're saying that his management style -- brusque, you know, demanding, unflinching, his workload, i mean, he's doing everything from cracking down on crypto to esg to you name it, has a very expabsive regula that story agenda -- that this is leading to massive amounts of departures even more so than in the past. we understand that three left today. we should point out that these are three pretty senior people, christina litman, head of the cyber unit -- that's pretty big

within the enforcement division. jennifer lite and add am an arkin -- adam anarkansas kin. from what we understand, more than a dozen have departed since gensler's appointment. and i've covered sec chiefs for years, i've seen really demanding ones. shows you how -- liz: harvey pitt, chris cox. >> -- you just did not see in the level of turn theover, this level of i don't want to work for this guy. and it's not just the top, it's pervasive. again, he's got massive problems with the sec union, you know? they're rebelling over all sorts of stuff involving their the workload. he's got issues with people that are the core people at the sec, staff attorneys who are leaving left and right. the latest three we just pointed out. and again, you've got to ask yourself, why under him and not jay clayton?

why under him and not -- mary jo white was no to wimp, remember? [laughter] she was the sec chief under obama. she was no one to mess with, but people weren't looking for the door. liz: is unflynn earning bad, charlie? don't you need a tough -- >> it's a great question, when does tough the/demanding become abusive and we just don't like working for you? and, you know, it's pretty clear that the we're controls the line now. -- crossing the line now. it's also clear that gary with gensler probably doesn't want this to be his final job, so he's pushing a very expansive and politicize ised agenda. he wanted to be the treasury secretary, and he's actually said that to people. put all that together, these people feel like they are being whipped to get his resumé in shape to take over for janet yellen, you know, if and when that day comes. and -- because the sec is, i mean, there's no doubt that its agenda is well beyond it's the usualing mandate.

this is an agency that was generally about catching wall street crooks and protecting small investors. now we're talking about mandating esg requirements for companies and a lot more. so, i mean, this is pretty interesting stuff. if republicans get congress, particularly the senate because the senate banking committee is, i think, the de facto regulator of the sec, this whole staff turnover and his management style is going to come up. i guarantee it they will do hearings. liz: charlie, thank you very much. charlie gas flee. >> yeah. i'm -- gasparino. >> i'm the best who's ever -- boss ever. just ask anybody. everybody loves me. i never yell. i never curse -- [laughter] liz: never lies either. >> i never lie. liz: all right. if you sold in may and went away, you missed out on last week'sallingly, but if you're gripped by fomo, today's countdown closer has some ideas about how to add gains in june too and what he still is absolutely avoiding.

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side effects include nausea, vomiting, and diarrhea, which can lead to dehydration, and may worsen kidney problems. ask your doctor about once-weekly trulicity. liz: the closing bell over three minutes away, the dow down 224 points were getting awfully close to turning negative for the month. any loss below 235 points for the dow you are done, 26 were right there if the s&p is down 26 or more interns negative for the month. bargain hunters starting to pick around in between down tech the man with $24 billion under management is saying hold off u.s. bank management eric freedman is that man. you're not loving tech yet, right? >> we are not there yet we think

there is a chance to enjoy other parts of the equity market it's probably a good stock to be for five or ten years but that's not where we would be at the moment. >> where would you be at the moment. >> we take energy, utilities and infrastructure generally boring areas of the portfolio are the best places to be. really quickly why we think energy is more than a demand story we think supply will be the story for some time there's not a lot of people looking for oil, tough to get equipment and the infrastructure is just not there. in terms of utilities they tend to be fairly boring and have a regulated business that splits off cash flow and income for investors not bad to have in this environment. finally infrastructure which is a hybrid play on reopening trends certainly those that up and out looking activities the way to play that is the

infrastructure. three areas as opposed to tech right now. >> we cannot ignore we have an quantitative technique of the balance sheet what is the play there as we look for the short term higher rates. >> amongst all the chatter with the fed, the one area that's been overly knockdown is municipal bonds also a pretty boring part of one portfolio we start off by maturity it's a great place to be with a high tax state that is a good spot to be as we see this cycle continued through now and the rest of the year. >> i don't know how you do a lot of pressure and constantly gave minute and doing well thank you so much for joining us.

>> thank you. >> anytime eric freedman asset management group here we go 20 seconds left before the closing bell rings the dow looks to snap the six day winning streak as it and the sm p500 are higher for the month, down right now i'm in a college too close to call right now. >> hello everyone welcome to "kudlow" i am larry kudlow. the talk of the town's president joe biden's op-ed in the wall street journal entitled my plan for fighting inflation there are a lot of ways to read this but one thought that i have they are basically signaling that he is trying to prepare folks for very bad economic news ahead. he is not going to meddle with the fed as they jack up into straight and pull cash out of