they don't like the idea of these folks in washington, d.c. being able to make big bets like this particularly when they have information the rest of us don't have. speaking of which, liz claman has all the information because she's been working at this for so long. she's really one of the best. liz, can we get an extra kick into the close? >> liz: i don't know. i mean, you know, when you look at where we were just a few hours ago and where we are, it just adds to the confusion that investors and traders have, not just hour to hour, minute to minute, almost; right, charles? >> charles: absolutely. >> liz: yeah, charles, a question, have you ever sent a text to the wrong person and then you're like oh i need that back? >> charles: all the time. they call me thumbs, okay? [laughter] >> liz: all right, thumbs, well you want to hear this because apple just unveiled a new feature that lets you edit text messages after you press send. it is just one of the new

features apple rolled out moments ago at its worldwide developers conference. our tech panel is right now picking through the apple barrel for the biggest hits and misses from live sports scores on apple tv to drag and drop photo emojis and buy now pay later financing. yes, apple getting into that. market still scraping the bottom of the barrel late in the session here. the dow had been up by much as 335 points. it is barely higher right now, up to just 2 points at the moment. but now the nasdaq, the nasdaq had jumped 232 points at its high. at the moment, up just 36. so as stocks retreat from their loftier heights, look at the ten-year treasury yield. that 3.03% level just puts it at a one-month high as the federal reserve might soon be joined by other central banks in its mission to normalize rates. our floor show traders react to the market's choppy trading and to amazon's 20 for 1 stock split. yes, that went into effect

today. what will have to happen for the online retail giant to get back above $2,000 a share again? and how long will that take? our traders are about to game it. amazon not the only thing splitting. elon musk officially threatening to split from twitter before the two get there. charlie gasparino has breaking news on what the tesla ceo wants to see before he takes the social media giant private or whether it's all a lead up to his dumping the merger plan. we begin with the breaking news. the apple developers conference just finished up. the developers who fill its app store with their creations cheering ceo tim cook as he appeared before them at the annual worldwide developer's conference with a backdrop behind him, he cooked off the pre-recorded presentation by introducing top apple execs with all the new goodies and offerings. the tech titan announcing ios 16, the latest operating software for iphones, which

promises, quote, the biggest update ever to your lock screen, completely imagining and reimagining how it works. but the mic drop moment came when apple announced a solution to that oops i hit send panic button moment. listen. >> now we're adding three of the most highly-requested features to messages. first, have you ever sent a message only to immediately realize you didn't quite say what you intended? well, no worries because now you can edit any message you just sent, so embarrassing typos can be a thing of the past. second, have you ever wished you never sent that message at all? well, good news, now you have undo send. you can immediately recall a recent misfire. >> liz: oh, that never happened to me. all right. with a nod to americans' fitness fanaticism, apple announced the software's latest update for its watch incluing the long-awaited

sleep tracking features so users can see how long they are in each stage of sleep. the software update also includes key features to improve runners' performance. for the hardware lovers, apple just announced the new mac book air that will run on its new m 2 processors, those chips that replace intel. the mac book air comes in four colors, space gray, starlight, midnight, and silver. it is going to cost $1,199 per piece of equipment. all right, joining me now to discuss it all on what it might mean for the stock itself is kevin kelly intelligence ceo of kelly and personal apple shareholder and star ship capital managing partner john meyer who was the one who developed 40 apps in the early days of the app store including the first flashlight app. let me get to you, kevin. what was game changing here that you saw because what we didn't get was equally as newsworthy and that's the vr headset that everybody had kind of hoped they

would see? >> yeah. we were hoping that they would make that announcement, but we're not surprised they actually didn't do that. that's because gaming is such a big part of apple, and all the money they generate. i mean, just last year alone, it was anticipated and estimated that it was over 15 billion in gaming revenue that they generated in that. that was number three only behind sony and [inaudible]. they actually bested microsoft. gaming its past -- [inaudible] for our friends at apple. the vr headset will be key for them. it will eventually come out because that's where gaming is going. we should see that in the future. the big thing that came out today that i think is being really underestimated by, you know, the overall stock market for apple itself is the buy now pay later. if you look at a firm which is one of the leading companies in buy now pay later, they are down about 4 to 5 percent today off that news where people can go

out and buy something using apple pay and pay it off in four equal installments. so i think that's one of the big things that came out today as well just for fin tech stocks. >> liz: absolutely. compare it to the other fin tech names that are getting kind of dinged on that news. it is almost as if, john, every time apple puts something out there, it is not just evolutionize or, you know, evolve what's already out there, it is to revolutionize an entire industry. as we talk about those kinds of things, what jumped out at you as sort of the most game-changing thing? again it is sort of squishy because a lot of it is software, but tell me what you thought. >> well, a great question. i think that the resounding conclusion i have after watching those is that other than the buy now, pay later which is maybe somewhat game changing, there's definitely competention out for that. what i saw was zero mention of

augmented, virtual reality. this year in 2022 marks the beginning of the end of ios and ipad ios being the center of this conference every year and the beginning of the end because next year begins the explosion of ar for apple. it's all going to be about that, next year and beyond at this developer conference. i think right now is really a period of a calm before the storm of the biggest war ever between two tech titans, and that's apple and meta in the ar race over the next decade. >> liz: apple and meta and sort of shorter term and it is not even a race anymore, apple and intel. i was watching intel shares very closely because of the m 2 chip which of course apple finally said what are we using other peoples' chips for? we make our own things. they rarely acquire companies to add on to what they do. instead they try and create their own kind of -- on every

piece of design there. let me get back to kevin here. we were talking about apple's intention and when they bring something out. tths it is only noticed later that the intention is not to put out new product, but revolutioniing the entire industry. i think of the ipod which completely changed the music industry. and the i-mac which ended up dropping the floppy disc drive. they don't have a usb port. they got rid of all the ports. is there any excitement about stuff that was really game changing? >> yeah, i mean, i think you brought up one of the best points in that they are bringing their entire supply chain in house and one of the reasons intel is down is because intel closed their 5g chips that they were going to compete qualcomm on they shut down that entire team and system, they were doing it for ten years, and apple bought that entire team and all the ip and everything that goes behind it, so you will actually

see one day where your iphone won't actually have a snap drive and chip from qualcomm in there to talk to the internet. that's pretty interesting in how they are so enclosed, but they want to play well with others; right? when we talked about the gaming before, all that revenue was generated not because they make their own games, it is because of the app store. you were talking about revolutionizing products. just think about that blackberry was before the iphone. same with palm pilots, even. so what's interesting is they are taking over fitness now too. they're going to have on-device fitness tracking for ios, so you donn need to buy a watch. [inaudible] -- and fitness space for their ios. i think that's understated those as well. >> liz: john, so much was made right off the top about this lock screen and the changes where you can actually do more customization. i mean, i already thought you could customize quite a bit of it. they came one a bunch of different customization

opportunities. there's a new wallpaper gallery. you can audition different fonts. listen to how they describe the new changes. >> now, if i just press and hold, i can personalize it further. i will just tap customize, and now i'm in the editor. now check this out. i can simply swipe to try out different styles that automatically change, the color filter, the background, and the font for the time, all to complement each other. >> liz: okay. that's all very nice, and by the way when you talk about the bring back that e-mail i didn't mean to send or the text message. g-mail already allows you to do that. i'm looking for fresher things. and then the big question becomes, john, did anything you heard today make apple's ecosystem stickier, meaning you really are completely disinclined to even try and add deferent accessories from different companies, whether it be samsung or something else?

>> absolutely. you know, apple is going in and adding deeper functionality to i-message, one of the most sticky platforms on ios, you know. this is something that especially is widely used by this new gen z audience. if you are not using i-message, and you're sending someone a text with a green bubble, you're all of a sudden not as cool. you know, that is as sticky as it gets to young people especially using iphones. now they're building more capabilities into i message to keep you in there and glued i think that's great in the whole ecosystem as any stockholder of apple might say. i would also note that apple has spent the last decade waiting for when they can add customization in the home screen . apple has waited for the perfect time. they have done it. now it is here. >> liz: do you know what else is

here? a completely flat stock no reaction at the moment for apple. the dow has turned negative, down about 30 points. kevin kelly, john meyer, thank you for sifting through all of this. as we say, scraping the apple barrel for, you know, anything that might really be revolutionary here. fox business alert from booted to back on. chinese ride sharing app, at this hour it is surging 32%. that's not the high of the session. it was up as high as 50% on news that it could be allowed back in chinese app stores as early as this week. it had been removed from app stores back in july and barred from adding new users when citing national security reasons. chinese authorities began a data security probe, but now according to the "wall street journal," regulators wrapping up the probe and it could be back in business. chinese tech stocks, china internet etf on the move higher

here. nice moves for all of them on the prospect that government crackdowns are easing on companies that trade overseas. it is the oracle of omaha versus the tesla techno king, and right now warren buffett is kind of beating elon musk. buffett-backed chinese ev maker byd has officially outpaced tesla as the larger shipper of evs in the world's top market which of course is china. according to chinese government backed site the paper byd is also aiming to get a lock on lithium, the key element in ev batteries. lithium prices have spiked 500% over the past year on shortage fears. byd reportedly in talks to scoop up six lithium mines in africa. back in april, elon musk did tweet that tesla might get into mining and refining directly at scale, and two years ago, elon said tesla had also acquired rights to a lithium clay deposit in nevada but the company is pretty much focused on selling future supply agreements with

existing producers. a shakeup on the s&p, coming june 21st is already moving shares of the companies involved. on semiconductor, dr. pepper and [inaudible] properties will replace several companies to ensure the s&p's various indices are more representative of their intended market capitalization range. now ipg and underarmour are out but are moving to the s&p 400 mid cap index. underarmour which is flat at the moment, down about quarter of a percent has plummeted 47% over the past year and now stands with a market cap of sub 3 billion dollars. separately [inaudible] will replace cerner which oracle acquired. we have cerner flat on the session. after years of agitating, amazon investors finally got

what they wanted. 20 for 1 stock split kicking effect today. we will show you the amazon shares. what has to happen next for it to run back up to 2,000 bucks a share and when. one of our floor show traders is about to put a point on the calendar. another floor show trader has just bought amazon today. we've got them both on their thoughts. closing bell ringing in 45 1/2 minutes. the dow jones industrial, reverting and converting to red after having been up more than 335 points. claman countdown is coming right back. your shipping manager left to “find themself.”

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>> liz: starting with a fox market alert here. amazon shares up about 2% at the moment. when the opening bell rang, this thing jumped 5%. this of course as the e-commerce giant's 20 for 1 stock split went into effect today. post split shares trading about $124.84 at the moment. the split interpreted by retail investors as a buy signal in part, not totally, but in part due to its new lower dollar

value. on a adjusted basis closed friday -- has lost a quarter of its value year to date. we randomly picked out one of the days last week. volatility ruled the game. stocks opened lower on negative microsoft guidance and then reversed those losses. finished the session. look at this. sharply higher. this was almost happening every single day. investors have been agitating for ages to get amazon to split its stock but with the nasdaq and s&p 500 logging their 8th down week out of the past 9, when, if ever, will the e-commerce giant reach $2,000 a share a again? let's bring in a trader who for years has pushed amazon to split its stock. now scott redler is ready to predict when amazon could reach or breach its former glory. and also what needs to happen

from a macro perspective not just for amazon but other suddenly cold stocks to climb to their former glory. scott, starting with you, now amazon is up 1.6%. it got a great punch today up 5% in the beginning. tell me, is this what you expected? or is it a little short? >> if you think about where amazon was a month ago, not even a month ago, it's already rallied 25% into this split. so on anticipation of the split, that stock has rallied 25%, which is a big move for a stock like amazon. so this type of move split, where it will have to digest, sometimes they sell the split, i don't think it's anything unordinary. as far as, you know, you guys were asking, will amazon ever hit 2,000 again? well, maybe my son who is 13 will see it. but i'm not sure others will see it. need to be a little more realistic. get back to the analyst

projection, a lot has to happen. they split it at the wrong too many -- wrong time. they split it on weakness. they didn't split it on record earnings. when we have a potential of recession and inflation high, it will take some time. if any stock can get back up to its high, it is amazon. with it 25% off its all-time highs, for investors i think it is a good spot to start, but don't go all in. they could miss the numbers in the next one or two quarters because right now a lot of companies could miss their numbers. we don't know if s&p will retest. presplit move. i would like to see amazon hold the 120 to 124 area to give us clues whether the market has more left. if it doesn't, you know, amazon could see, you know, retests of the prior lows with the actual market. >> liz: kenny -- >> overall, you need to know

your time frame. >> liz: yeah, 20 years, two decades. kenny, you will be around, kenny, because we're going to cryogenically make sure you are. [laughter] what in the broader picture needs to happen in the macro market, not just for amazon but for the so fis of the world, you know, good companies that are actually really off their really glorious highs? what needs to happen? >> there has to be clarity. there has to be an end to the confusion rates, around fed policy, around the economy, around what's going to happen. so many things out there that are causing anxiety. until there's more clarity, until we really understand how investors react, how the market is going to react, how the economy is going to react, it's going to be a tough go for a really a lot of these high fliers. amazon, i don't consider it a zoom, amazon is much more foundational in my opinion. like you said, it split. i just bought some today.

the first time i have owned it. i always wanted to, but i was always one of those guys at $2,000 i'm not going to do it. now it split, suddenly i'm typical. it came in at a more agreeable price range. i like it. it is down 25%. i don't think amazon is going out of business by any stretch. for me it is a long-term holding. but to answer your question, the market has to get settled with all the monetary and federal reserve issues not only in this country, but the ecb, europe what's happening over there how they will start to withdraw because it is a global economic issue, not just a u.s. economic issue. >> liz: true. ecb makes its decision on thursday. it is widely expected to stop its quantitative easing, stop its bond purchases and who knows when, but soon possibly start raising rates. scott, kenny, good to see you. thank you so much. top gun maverick now in its second weekend still racking up box-office receipts at a record pace. but inflation causing a new problem at your local movie

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>> liz: top gun maverick continuing its parabolic record breaking rise. the movie brought in 86 million dollars at the box-office in the second weekend, dropping a mere 29% from its memorial day launch. that's the lowest decline in history for a movie opening to 100 million or more. now box-office gurus predict the top gun sequel will be the first tom cruise movie to globally cross 1 billion dollars. but as fans flock to the theater to see maverick and soon get ready, they better be ready to stay hungry. a concession crisis is developing as we speak. according to the "wall street journal," corn farmers by choice

are growing less popcorn and shifting their attention to soybeans and other types of more profitable corn. to lydia standing by live at alpine cinemas in brooklyn -- oh my goodness, not enough popcorn? >> yeah, it is hard to imagine, right, liz? right at the time for us to get back to the movie theater and see the blockbusters that are coming out, we are finding that there are concerns as this movie theater staple could get more expensive and harder to find because as you said farmers might be tempted to grow less popcorn and instead raise more less expensive goods like soybeans. watch this. >> there could certainly be some segments of the industry that do not have enough popcorn like they used to. >> the movie theater giant amc is making sure that its customers know they have enough popcorn. the ceo just tweeted amc already

has under contract a supply of very high quality popcorn, all that we need for the next three years. there's good reason to push back here, liz, because concession sales make up for a lot of revenue for the movie theater chains. take a look at this, amc says food and beverage sales were its second largest source of revenue after box-office admissions last year making up about a third of its total revenue in 2021. let me tell you this, liz, the concerns about concession prices and availability, it doesn't stop with just popcorn. we're also talking about the soda, containers, packaging, straws, lids, and yes, even the candy which is where i always head to. the owner of alpine cinemas here in brooklyn, he says the costs for all of these items have escalated between 10 and 15 percent over the past year, and that's really dealing a blow to his bottom line >> it's the most important thing. unlike with the movie, where you

pay 65, 70 percent out to the film studio for every dollar you get, when it comes to concessions, it reverses. and we keep 65% of every dollar. >> so now, liz, the owner here says he's not going to raise prices at the concession stand for now, but that's going to become harder if costs continue to go up. supplies are continuing to be tight. he's trying to navigate his way out of the pandemic and recover. it is going to be hard. liz? >> liz: it is the butter flavor that is key. you need the popcorn, but then it's not good without the butter flavor. you're telling me -- i'm going tonight for the second time to see maverick. i know. >> wow. >> liz: i'm seeing it twice. i will bring my own red vines, not twizzlers. i'm a red vines girl. lydia, thank you very much. you are with me. red vines are better. team biden slashing tariffs on solar panels as oil briefly

hits $120 per barrel. and natural gas gets within distance of $10. how much longer can this continue? we're bringing in the top energy analyst at s&p global to give you the state of play as the entire energy complex bubbles up to new records. closing bell 27 minutes away. dow is still lagging here, down 28 points. the s&p now gaining only 8 after having been up [inaudible]. the nasdaq up 25. we are coming right back. you'll always remember buying your first car. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help.

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cheering at this hour after president joe biden declared a two-year tariff exemption on solar panel equipment and materials from southeast asia, and in addition, he invoked the defense production act to promote domestic solar manufacturing. the tariff exemption applies to panels from cambodia, malaysia, thailand, and vietnam. the move comes as the administration and consumers watch helplessly as oil and natural gas prices burn higher. look at natural gas right now. 10% higher at this moment. now, we are in the aftermarket, but a gain of 10%? we're looking at $9.38 per million british thermal units. in the regular session, natural gas hit a 13-year high as temperatures heat up across the united states increasing demand for ice cold air-conditioning. one year ago, just to put this in perspective, nat gas stood at $3.07. let's bring in richard swan. he knows.

he's s&p global commodity, head of refined products. richard, we are seeing a tiny retreat in crude and gasoline prices today. that's sort of in the wake of this announcement and some other issues. give us your near term projection of where nat gas, crude, and gasoline go. >> hi, liz. thank you very much for having me on. let's start with oil; right? it's very stressed, this market, and it is jumpy. you have a classic really supply versus demand battle going on. on the demand side, it is the recovery story. we know this coming out of the pandemic. we're driving more, flying more. consumption is going up. u.s. and other countries are releasing emergency stockpiles. you have opec, coordinating the policy, putting more oil on the market, but the big wildcard here, and the big dark cloud hanging over that supply demand picture is russia. there are huge doubts around russia's role in the global oil market because of the sanctions

we have seen essentially. russia is a vital supply for both oil and gas for the global market. >> liz: yeah, i get that. and we know that russia is the plus of opec plus, and i don't know how much power they have left in opec. you tell me. i mean, are they that big of a power as they were i want to say about a year ago when they were able to really sway opec? >> well, they're still a really big producer of crude oil refined product. they export to europe and natural gas, hugely vital. it is a bit complicated. opec is very grateful for russia for coordinating its output. they are trying to keep russia in the fold. russia's ability to actually take part in the opec output agreement is pretty limited right now. opec announced increased supplies last week. where is that going to come from? that's not going to come from russia. s&p global commodity -- the analytics part of my company we expect russian supply to fall about 2 million barrels a day

between now and the end of the year. the extra opec supply [inaudible] -- not from russia. that will be from saudi arabia -- [inaudible]. >> liz: when you look at gasoline, that's tough to see, but that's a wholesale price, $4.20. we're looking at new records for retail gasoline. everything seems to be rising. i mean, when does this fever break? >> well, the benchmark prices, if you like, the gasoline, they could rise slightly over the next month or two, going to peak demand season, should fall back to around $3 a gallon or so on the gulf coast. i'm here in houston. by the end of the year. down a bit, still relatively high priced. some alleviation is on the horizon. >> liz: relief there. already seeing very odd sort of unintended consequences. lulu lemon announced it is raising prices because something like 75% of its products need

crude oil, petroleum to be manufactured. we're talking about nylon and lycra. now they are saying they have to raise prices. this surprises some people. >> yeah. i think oil has tentacles that people aren't aware of. you see the head mark price of crude, but you don't realize, if oil goes up, everything goes up. this is about prices to make nylon for sure through the petrochemical industry which is based around oil. every consumer you might buy -- every consumer item you might buy is trucked. the cost of diesel is baked into everything we buy. >> liz: i think a lot of people might be surprised to know that petroleum is directly in their lulu lemon leggings. just interesting. your right, the tentacles are very long. richard thank you. we will wait for the price fever to break. good to see you. >> pg thats, liz. -- thanks, liz. >> liz: the tension between elon musk and twitter is heating up

as the social media platform says forget it. we don't care what kind of lawyerly letters you send us. we will enforce the agreed-upon merger at the agreed-upon price. if musk makes good on his threat to walk away from the deal. so what does that mean for twitter and tesla shareholders? charlie gasparino has some breaking news next. closing bell, 18 minutes away. the dow has popped back oh so slightly into positive territory. it is higher by 3 points. (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back. so you can live your life. that's life well planned.

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>> liz: shares of twitter taking a hit at this hour, down about 1.6% after an sec filing shows that elon musk is pretty serious about scrapping his offer to buy

twitter which responded by saying it plans to enforce the deal. this all, charlie, swirls around a very official letter from a law firm. >> right, it is actually not just law firm. it is ripples -- i got ripple on the brain. we're going to talk about that tomorrow. i'm editing a story, one of the stories on it now. this comes from musk's lawyer who basically said the fact you didn't give us this information, you're in material breach, and we may pull out. there's a lot of stuff going on here. it is hard to figure out the game plan. i mean, that's the part of the letter that's based on twitter's behavior today and then the company's latest correspondence in particular, musk believes the company is actively thwarting his information rights and the company's correspondence under the merger agreement. tesla shares are getting crushed right now. they are way off their highs even without this bid, i think

tesla was going to take a hit because all the nasdaq, all those stocks, everything is starting to come down to earth now. >> liz: anyway. >> fed is raising rates. you know, the bubble is popping in the market. >> liz: tesla is up one and a quarter percent today. >> that's a short-term pop. his currency is decliing rapidly. the markets are in a bad state right now. people are talking about recession. jamie dimon said it himself. the 5480 was it -- or 5420? >> liz: that was the original offer, 54.20. >> that was made right before you know what hit the fan. and still bankers are saying if they renegotiate with him, that that's, you know, he's ready to do the deal. now, the real question for twitter i think is this, you get this from bankers, are they willing to roll the dice that this thing goes to $20 a share? >> liz: it is 39 right now. >> i could see this thing

getting whacked another 9 bucks if he's out, and then you are at 29. >> liz: yeah, well -- >> i'm just saying. there's a lot of fluff in this. twitter has never shown a profit. we're going into some rough times in the markets. you know, maybe they should just hit the bid at 35. i mean, people are talking about that. if he came back at 35, is it in their best interest from a fiduciary responsibility that they just hit it, or 39 or something like that, something in this ballpark which is a big count from what he already put up. what john coffey said to us when we first reported -- >> liz: columbia law. >> he said twitter can sue him, force him to try to get a court order to force him to do the deal at 54.20. >> liz: seal the deal. >> and you chose not to do the due diligence. >> liz: uh-huh. >> if he doesn't get another court to reverse that court order, if it does happen, he has to do the deal or he faces jail

time. >> liz: do you think the letter from the law firm is basically his first foray, his first step into saying i have to get out of this thing? >> i don't know. i don't know if he's renegotiating or looking to get out. >> liz: twitter says they have been very upset about the bots and the fake user numbers. >> listen, he chose not to do the due ddiligence. that's the bottom line. due diligence after the fact is a little swirly. the judge could just split the difference and say okay mr. musk, you own 15 billion dollars. okay. just -- >> liz: initial was 44 billion. >> if he pays them 15, that's a little better. you could see a judge doing that. then he walks away, okay, 15, i don't have to spend 44 on this dog with fleas. who said that? that was a -- >> liz: that was wall street, wasn't it? >> a dog with different fleas. liz, i'm telling you, a lot of people think this is a $20

stock. it's not -- it's never shown sort of -- it's never shown consistent -- >> liz: the texas attorney general, and this is just breaking is asking for information from twitter about bots. now, of course elon moved some of his headquarters for space x, you know, to -- not the entire -- to austin. >> on top of this, there's a political story here. they are telling me to wrap. but remember the republicans are starting to love elon. the democrats hate him. you will have the texas attorney general who is a republican look at this musk to show that twitter is bad because twitter is allegedly the progressive social media service. the biden administration obviously joe biden doesn't like musk and musk doesn't like joe biden; right? >> liz: that's pretty obvious. >> so this is -- on top of it all, this is a political story. i guess the question for wall street, is this a head fake? does he want to renegotiate? i can tell you, that my sources

on the street think he's still wants to renegotiate. we'll see. >> liz: well, when the texas ag gets involved, kind of to side with him -- >> [inaudible]. is he investigating? >> liz: charlie, thank you very much. yeah, microsoft, do you remember that? that was last week. today's countdown closer thinks the greenback could pad your portfolio profits. just because microsoft is losing because of a strong dollar doesn't mean you have to. he will tell us how next. closing bell ringing in 7 minutes. dow is getting a little breathing room here. now up 31. lemons, lemons, lemons. the world is so full of lemons. when you become an expedia member, you can instantly start saving on your travels. so you can go and see all those lemons, for less.

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nasdaq, right? forecast cut last week, shocked investors. mr. softy blaming the strong dollar which has jumped 7% year-to-date. today's "countdown" closer says just because microsoft is worrying about the greenback doesn't mean you cannot make money on a surging greenback. we have joining me right now, tom lyden. tom -- >> how are you, liz? liz: great to see you. thank you for being here. okay, you're not worried about microsoft and its strong dollar problem. you're not worried about multinationals and their strong dollar problem, you found a way for our viewers investorsmake money. what is that? >> you can invest in almost everything, currencies are also an asset class. we've seen during times of uncertainty most investors tend to move towards the currencies they have more confidence in. the dollar is up there at the top of the list. a lot of people moved money into

cash in short duration in a way to overcome some of these inflationary concerns with the cpi over 8%. you can actually invest in the dollar if we continue to see times of volatility or times of uncertainty through this invesco dollar-denominated etf, ticker symbol, uup. it has been up 6 1/2% so far this year. over 13% in the last year. and it is, great way to diversify your portfolio when you're concerned about inflation, concerned about safety. liz: yeah. there we are, finally. thank you, we're looking at a three month chart of uup. this enables people to capture a rising dollar. i cannot believe it only takes 1.0to buy a euro. i was there a year-and-a-half in france, it was a buck 19. clearly this has been an issue. you also have other names that you like. you think that there is an

opportunity in arc innovation of course the cathie wood momentum play type of sexy stocks that were very sexy about a year-and-a-half ago. why do you believe in it now because it pared back many of its gains? >> it is pared back a lot. a lot of people still believe in it. it has net purchases year-to-date in an area where people are thinking, boy, at one point in time this will hit a bottom and if it's a long-term outlook, innovation is not going to go away, we know. there is china internet. there is lot of problems in china. a lot of regulatory concerns but the crain shares internet, kweb is seeing net buyers near to date. that is up over 30% in the last 30 days. if you have money on the sidelines you have a longer term outlook here are things to think about. liz: i agree with that. cathie wood says you have to have a five-year time horizon if

you want to be in ark. she is taking the long haul picture there. good to see you, tom, tom lied good friend at "the claman countdown." [closing bell rings] that will do it for us. we'll see you tomorrow. ♪. larry: hello, everyone, welcome to "kudlow," i'm larry kudlow. so last week the epa proposed a rule that would totally reverse a trump decision on water permitting projects. this is dear to my heart because we in the nec worked hard on something called section 401 of the clean water which under donald trump's direction put a huge priority on fast tracking major energy projects. we did the same thing on an even broader scale regarding