the company is sufficiently woke, they check every box you can check on the website, people, planet, esg, inclusion, one of the best college degree programs of any company out there. the notion of shultz being dressed down by sanders who never created a job for everyone, is period *blooge once toyed with the idea of running toward the nominee for the white house as a democrat. when he goes to capitol hill and sees this firsthand, grilled for success i hope he thinks about running again. you can't fund things people need, we can't remain a great country if the it is to confiscate wealth and belittle achievement. i will have a drink of coffee to that. cheryl casone he in for liz claman next. cheryl: i know might need an espresso, we've got another market and it is a big one. look at the dow down 172

points. it started as a tech lead rally, now it is more of a mixed performance for us stocks, the dow is down, s&p down 8, nasdaq by 3, russell 2000 is also lower. i am in for liz claman, i am cheryl casone and stocks are giving away their gains as the bears are coming out of hibernation but it is not all bad news. look at the names leaving the nest egg, chipmakers and chip equipmentmakers taking the top spot. there is a.m. the, lam research, nvidia, a lot of these stocks showing decent gains. the sector has been beat up in the past so maybe there is a resurgent story here. now let's go to the dow and turn our a session -- attention. it has been dragged down by names like unitedhealth, merck,

mcdonald's, chevron taking a hit today. some tech names staying in the green are intel and apple. and apple higher, apple stock, and and analyst saying iphone demand has rebounded in china which is interesting as that reopening story continues for china. yesterday we saw a massive selloff, not much has changed, he did reaffirm the hawkish stance, watch. >> it has a long way to go. no decision has been made on this, if the totality of the data were to indicate what is warranted we would be prepared

to increase the rate of rate hikes. cheryl: markets got a boost despite strong jobs data. the jobs report for the month of january, i was curious what this would look like, 10.824 million, that is january, the estimate, look at where we were in december, 11. 234 million, this would be the story, job story, which overall this signals a little bit that maybe some of jay powell's work is bearing fruit for the markets, not elizabeth warren, and job destruction but this is part of the inflation story, private-sector adding 243,000 jobs in february, much harder than 200,000 estimates, the strong economic data, powell remains on a path to continue

taking these rates. that leaves the market enough on, let's go to floor show to trade this action. scott shelladdy and tom hayes. powell is reaffirming this is the path they are on but what i found interesting in his comments, this is data dependent and we will get more data so to clarify in his comments this isn't set in stone. >> powell said faster, higher, longer, and he also said services inflation is sticky, that was bad news, basically implied god will go up from 540 in that range. the good news, to your point, all the inflation, and he did

say, he did leave on the table the possibility of a soft landing, >> i was going to say, the land would use yesterday. and the investment and commodities were interest rate dependent. and other comments that came out today, and also, the economy with china reopening story, the pressure coming from china, he was asked about that today. >> the china opening story is there, they are limping along as well. and a lot of what we see until now, was a more hawkish? at the most, may be. at the market has been

pollyanna-ish, ignoring what he had to say and in the senate and the house, the last two days, and they set up and taken notice. and and elizabeth warren's point, and i don't need to be raising rates like i raise right now if you keep spending like you are spending, he has a 2% inflation target when taking the cpr down. we talked about it and nausea him, they don't spend money until we get to 2%. that would go along way. if we could get the oil price down, and it will help immensely.

because of high oil prices, it is a double whammy in our favor. i would have a lot to say. the market finally reacted like i thought it should do, but it was something going on for 6 weeks. cheryl: that's the name of the game, that the entire story for jerome powell. everything is off the table. is not going to say that but if you think that's the culprit that is stimulus spending out of washington, we are going to get the president's budget, it is a rough go in the house, it will not get passed, republicans control the house but that spending is where we see the services inflation come in. the small businesses that are having to pay more is a drag on small businesses, we get the jobs report friday and push

again in that data as well. >> she's going to keep long-term inflation expectations, the idea of 2% anytime soon is a bit aggressive. volcker had a different set of circumstances. debt to gdp, 33% since he was hiking so aggressively. one hundred 20% debt to gdp, last time we were here, 1948 and what the fed did during that debt to gdp, and they inflated away down to 60%, and that was the playbook, he will continue talk talk hawkish, pay long-term expectations but at the economy run hot to bring that debt to gdp down a little bit, scott says they've got to stop spending but good luck with that. cheryl: not that i don't agree but good luck as well. that is very true. the energy space, it is only

march but already looking at the summer driving season. people use heating oil over the winter, they were hit with high bills, electricity and the cpi report, another big jump we saw, that inflation side is not easing and here we are coming into summer months when gasoline is probably going to be a headline we have to talk about. >> you are right, that's part of the cpi that helped bring it down. oil coming from 99 to 70 or 65 and if it does rally up that is another foreign in the side of the fed, something to worry about. i would like to see, give me a cpi number that shows how much money people have in their pockets. i'm sick and tired of hearing how cpi is done, used cars have dropped 20% in price. how many times do you purchase a used car or how much your houses come down in price. it doesn't affect day today spending, might be on the way up but not down. i want to know how much money

is in people's pockets. things they touch every day or week like food and fuel, those hurt the most and just go to the grocery store and look me in the eye and say i only pay 6.4% more than i did last year because i don't think that is possible. cheryl: powell reaffirmed how core inflation he looks at, i don't buy that. i think the headline inflation numbers are as impactful when they are making decisions as the core numbers but that's my opinion but looks -- look what happens when they do a press release. tom hayes, scott shelladdy, thanks very much. we have some breaking news on the topic of spending. president biden will unveil his budget plan tomorrow but administration officials tell the associated press the

proposal aims to cut the deficit by $3 trillion over ten years, the president plans to curb government spending, targeting medicare benefits has been on the table by raising taxes on the wealthy, even those making 400 k an hour. edward lawrence, this is an interesting dichotomy. earlier this year in the state of the union the president floated that $2 trillion deficit reduction. the question, the white house is advertising, add up. >> that's a good question. white house press secretary said that we've not gotten a lot of details but they found ways to add revenue and told us they give $3 trillion off of the deficit for this budget. the budget will remove tax credits on large corporations and increase taxes. >> i talked about the corporate stock buyback, something he mentioned in the past, and

making wealthy and corporations pay their fair share without raising taxes on americans making $400,000 and ending wasteful subsidies for special-interest groups, things he talked about. >> reporter: the press secretary says the budget removes subsidies for big oil companies and expect the transition, the president wants go to all electric, to be heavily represented in this. the latest fox news poll shows 36% of people approve of the president's handling of the economy, 30 one% approve of the handling of inflation. voters see the actions, hear the words. >> the importance the president sees in making sure we deal with the deficit in a way that is important to the american people, something he talked about since the campaign and believes in being fiscally responsible and that is what you will see. >> the president signed $4.8 trillion in government

spending, and the federal debt stands to $46 trillion by 2033 and when the president submits his budget tomorrow it will be four weeks late. cheryl: edward lawrence, thank you so much. businesss big and small are trying to keep budgets under control. them doing it by connecting every aspect of their businesses. sim sora has taken the internet of things to the open road and the company ceo is in a fox business exclusives. look at the big board, another rough day at the office, one hundred 70 one points and it is day 2. jay powell's testimony focusing on jobs. "the claman countdown" is coming back.

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cheryl: look at the internet of things company, up 25% in the last week after beating wall street expectations in the fourth quarter and got an upgrade from goldman sachs. it did post a loss of $0.02 a share but quarterly revenue increased 48% year over year. it sells hardware to collect and analyze data with a focus on systems to attract trucking fleets. construction equipment. joining me in a fox business exclusive, thank you for being here. i want to start with this goldman note, he made

interesting point, the only change in our thesis is it ability, internet of things ability to accelerate toward positive free cash flow without compromising top line growth. how do you address that? >> we've been proud with our results and announced we increased year over year revenue 48% and include free cash flow 90% year over year. most importantly we are serving a growing base of customers so we have strong business. cheryl: there has been a lot of talk in the tech space as we go to the jobs data the next couple days that the tech space itself is still a little bloated and technology companies, 20% to go as far as layoffs go, are you hiring? have you had to cut expenses with staffing, where are you right now?

>> our theme is sufficient growth, a growing base of customers and we continue to to be strong demand for products, it's important we continue to invest in sales and support capacity and incapacity to continue to build new products. and and better serving our customers. >> are you writing staff? >> we are hiring. cheryl: i want to confirm that. i was looking at a few things here. using ain particular, in the trucking fleet, ai is a buzzword. we had someone on yesterday their whole investment thesis and strategy is focused on ai. is that a good thing for you and your company? how crucial is ai in what you do? >> it is. the way we use ai's to help our customers make sense of this

data coming from the field. if you think of a construction company or energy or supply-chain business, they have trucks, thousands of trucks, thousands of employees and they are managing things like risks. think of these heavy assets and pieces of equipment, keeping workers safe and not get an accident with significant costs associated with that. the way we use ai is sift through that data to look at things, to understand does some but have a bad habit of tailgating? and coach folks to produce that risk as get ahead of it. that's how ai has practical utility. cheryl: amazon got a little grief over the last week, because one of their drivers posted a video on tiktok that went viral and i am getting watched if i go to the bathroom. if i drink coffee i have to pull over. she felt she was saying the amazon camera in the delivery truck was like having that big brother.

what your reaction to that? >> we don't work with amazon but in terms of how folks use cameras, it's about exoneration. more often than not folks are on the road, professionals, they get an accidents and many times not their fault. we need to provide footage of what happened and exonerate yourself immediately before it becomes a large insurance claim, has a lot of value. that is what we are seeing. cheryl: who are your clients to be specific? give me the top two? >> some general names that might be familiar, sunrise solar, for customers are familiar with that, work with aaa, and large european companies, as well. frontier communications on the telecom side. it's a wide mix of customers in the way physical operation. cheryl: the global footprint,

turn the united states, curious what your thoughts are on the supply-chain, something jerome powell talked about on capitol hill, a reason we are seeing food inflation out there and energy prices, still that bottleneck. is that your company one that can help alleviate the burden on the supply-chain of this country in particular with trucks? >> exactly right. we provide better visibility in the supply-chain so you can see where those trucks are if stocks are being made on time. in terms of costs, our customers absorb a lot of supply-chain costs so we help them get better utilization out of their assets and save billions on fuel consumption, being smarter about how they are running. cheryl: certainly an interesting company and stock has been performing, goldman sachs seems to like what you are doing, thank you for being with us.

let's stay with transportation. no problems for a lon muscat. details on a new investigation on a frightening situation involving two tesla model-ys. don't miss the special making money townhall, charles payne going to ask for the future of work, 2:00 pm on fox business, take a look at the markets, the future not looking so bright, trying to turn this around, don't blame me, dow down 173, nasdaq down it, see if the jobs picture brightens up in the last two days. we will be right back. e things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. at t. rowe price, our strategic investing approach can help you build the future you imagine. new projects means new project managers. you need to hire. i need indeed. indeed you do.

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cheryl: fox business alert, markets are under pressure again, second day we had triple digit numbers and the selloff continues, 500 points yesterday, 191 point loss on the second day of jay powell's testimony on capitol hill, the s&p down 12 points and the nasdaq down 12 points as well. we had a little bit of a reversal happening for your markets. occidental petroleum is higher after a filing shown warren buffett's berkshire hathaway added its large stake in the company over the last few trading sessions, berkshire

holds 22.2% up from 24% previously. berkshire is leading to speculation it will acquire all of occidental eventually. warren buffett, big story today. molson coors moving higher on takeover speculation after an analyst highlighted language in the company's 10k filing from late last month. the beer giant set unsolicited offers could cause disruption to its business. most told seekingalpha, routine procedure. molson coors up 3% right now. adidas reporting a big loss from the fourth quarter ended cut their dividend after a split with the rapper ye, terminating the partnership last year in response to his anti-semitic remarks.

700 million right off for easy sneakers. fish fix reporting the wider than expected loss for a second court, the company lost $0.58 a share where analysts were expecting a loss of $0.34 a share. it did report his first quarter of positive free cash flow in more than a year. it is down 4%. baron berg downgraded tesla, saying the electric vehicle stock has less upside from here. he prefers other automakers as tesla's valuation, quote, leaves less room for disappointment. tesla is facing a federal probe. the national highway traffic safety administration investigated the ev maker after receiving reports the steering

wheel of 2,023 model-y suvs detached while driving. let's go to kelly o'grady with the investigation and try to picture this in my head and it is not a good moment when you think of your steering wheel falling off while you are driving. >> reporter: i was thinking about this too. imagine you are out for a drive and it pops off. that is what happened to two customers and they filed complaints that this happened when they were driving a model-emac suv. the federal agency announced an investigation into that matter sharing, quote, the vehicles were delivered to the owners missing the retaining bolt which attaches the steering wheel to the steering column. a probe has been opened to assess the manufacturing processes associated with this condition. the stock is down 4% on that safety filing so i dug into those complaints. one file link to a twitter posting where the owner shows video of the detached steering

wheel and he said this. our family was excited to receive the tesla-y delivery in january. i was driving on the highway and the steering wheel fell off, was lucky enough that i was able to pull onto up divider. the driver said he, quote, lost trust in tesla and did not feel safe driving his car home. this was the first step before they could demand a vehicle recall but this adds to a long string they were having with the agency on other matters particularly its autopilot driver assistance and just today, they announced another investigation into the same system. interesting timing given the recent hype over tesla's autonomous driving advancements, yesterday at the morgan stanley conference, the billionaire shared that he believes there's a path to making a smaller vehicle that is half production cost, secret sauce, autonomy.

sorry, i thought we had the stock there but i will tell you what he did say a, the vehicle is going to be almost entirely in autonomous mode and passenger vehicles see 10 to 12 hours of use per week, there is 868 hours in a week. of vehicles are autonomous they will get used for 50 or 60 hours a week, that is a 5 x increase in the value of the car and costs the same to make the car. those safety investigations focusing on autonomous systems could spring trepidation for potential drivers but will highlight any recalls to do with the autopilot system, wouldn't require a physical recall but a software update like you do with your iphone. it's definitely intriguing but the more aggressive deadlines. cheryl: i'm trying to get over the fact the drivers filed a complaint. i thought you would say lawsuit. cheryl: it is funny, the driver

said the dealership gave him a new tesla and he's happy with that. cheryl: i won't sue you if you give me a new tesla. thank you for the report. let's switch gears to this. with 30 year mortgages topping 7% american this looking for flex but housing options. enter landing. it is renting fully furnished apartments for those ready to live and work anywhere. the ceo will join us next on a fox business exclusive. looking at the big board, down 155 points, we are coming back in just a moment. ♪ (man) what if my type 2 diabetes takes over?

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i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones cheryl: we work, the boost is up 3%, there's a new report from the new york times revealing the giant is in talks

with investors to restructure $3 billion in debt and raise more cash after they announced plans to exit 40 locations across the us and drop 300 jobs from its payroll to cut costs. while us workers can rent or furnish office spaces, you can rent a fully furnished apartment with landing. the first company to offer more flexible way to rent the membership. landing has 20,000 fully furnished units, 375 cities across the country and lost a new membership tier called standby the cost $12.99 a month, to be clear, everyone. it is below the national rent average. members only received 3 day notice before they vacate and move to another unit or location. do you even unpack your bags?

joining us is phil smith, good to see you again. you made the point in the commercial break, 20 million people are working from home and if they want to do that how much are they moving around? >> frequent the, we are finding for the new standby product, a large group of people want to move to multiple cities, even multiple neighborhoods in the same city and have different experiences. cheryl: what about a regular customer? >> you can live anywhere across the country in flexible apartments. cheryl: but also the new standby plan. house that different regular membership? >> it is called standby and allows members to get the same furnished, applicable comfort comfortable experience at a affordable price point.

cheryl: for any city? >> except new york. >> i suppose. >> you can't bring your cab unfortunately, not for a standby. cheryl: especially with the 3 day notice, that is a pretty short window, do you unpack your bags? >> this product is perfect for people that can go anywhere, do anything and get excited about a change. you can be a standby member and might move a couple of times a month and get the opportunity to live anywhere you want so you get a 3-day option to move anywhere you want to move and give us the option to ask you to move with 3 day notice. cheryl: what's the average length of a stay? >> just launched the product, it is going to run -- cheryl: we are already doing this. >> for typical customer in the same location for 6 months.

cheryl: last time you were here, with standby you don't know how much you are huffing around. we had this dustup with airbnb where it is a sad story, the previous had a big party and a little girl got in their. there's a lot of pressure on airbnb. do you worry with this busy model, that the bad effects could flow into you? >> are products differ because we are built for living, not travel. members live with us, they go through a whole screening process, so it's a different customer base. cheryl: these are fully furnished. who's your average customer? are they young? old? >> median age is 38, median income 108,000 a year.

cheryl: your catering to the person that can't sit still but to your point with work from home, 20 million working from home, 20 million might bounce around a little bit. do you own the property or the buildings? >> we partner with large owners of public properties across the us. cheryl: multiunit. what is an example of an apartment in the city? give me an example of something popular with your members? >> the typical building would be in downtown austin, or 250 units on site, a ton of exciting amenities, a place people are excited about. cheryl: we were looking at your side. there were several customer complaints. reviews saying cleanliness was a problem where they were renting from you and your descriptions, in accurate descriptions, things like that.

how do you address customer complaints? it will happen with any business. >> it does. our goal, people are signing up for home online. we try to give people videos, photos so they could see what is going on. you're moving in, have an opportunity to tour in person. we are building technology to help people see the home and have the details and resources. cheryl: does that concern you at all when you see customer feedback like that? >> expectations would be superhigh for your home. it's different than staying somewhere for a weekend. we have a high bar, constantly trying to meet that bar. cheryl: the dynamics of how we live is changing and there will be bumps in the road. good to see you again. keep us posted on how the service goes. three days notice.

i unpack too much to get out of somewhere in three days. i want to bring my cat and we will talk, thank you. you can get much more real estate coverage tonight, our real estate block. left us help you find your dream home. we will bring four episodes of american dream home beach life, we will head to alabama, north carolina, hawaii, and florida, that is tonight on fox business. more contenders throw their mouse ears in the ring for disney ceo bob iger's job. some of these names you may never have heard of. charlie breaks next. the big board, the dow is really turning around. now i'm going to take credit. one of those days. it has been a weird day, a

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call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. ♪. cheryl: disney looking for the perfect match to succeed ceo bob iger. could it be "a cinderella story." he coughs now.

he getter have the goods onset? >> disheveled hair -- cheryl: from the gym. >> last week we caused a huge firestorm on "the claman countdown" when we reported exclusively that there is a short list to replace bob iger as ceo of disney in two years. he stated he will step down in two years. the clock is ticking. it is obviously less than two years since he made the statement about a month or two ago and, you know, so they're actively looking at candidates and here is what got everybody talking were outside candidates and one internal that was pretty interesting. the outside, interesting one, adam silver, head of the nba. he is clearly on the list. >> i quoted your story in the morning show, by the way. >> thank you. the morning show, the thing with jennifer aniston? stop. he is on the list. that caused a huge stir. kevin mayor former disney

executive, head of tiktok for a short period of time. he is on the list. internal candidate, one of the heads of parks is on the list as well. cheryl: dana walden. international womens day. >> you better say that correctly. cheryl: i have to say that. >> the short list is not so short anymore from what sources are telling the fox business network. there are other internal candidates being considered. point out one of them is a guy named alan bergman. the co-chair of entertainment with dana walden. he apparently is on the list as well. josh dimoro chairman of parks and resorts on the list and jimmy-p itaro, head of espn. for my money, what is fascinating about this, pitaro is on the list, doesn't look like disney will sell espn if they are on the short list. these are sports people.

the guy at nba. one of the things that silver does he is intimately involved with disney because of espn. he does a lot of deals with them. he is friends with iger as well. i definitely say they will not sell. i know wall street are predicting a spin-off of espn. but according doesn't seem like it is. the internal candidates are interesting, commitment to the current business model. they are not getting rid of the parks. one thing you don't see with someone a real sort of core knowledge of streaming. i guess maybe dana walden or alan bergman. if you go heavy into streaming you got to give them, that's where they're -- cheryl: maybe what is iger doing now restructuring streaming and he has to. streaming is a disaster. hit to earnings from streaming was brutal. >> you think they demote streaming as a strategy? cheryl: i think they will put it

in place but, yes, i cover earnings, cover the reports, the parks division is a big moneymaker the covid aside, a huge moneymaker for disney. i see that. >> if you are gameplanning this who do you think is number one on the list? cheryl: i will go with dana walden because it is international womens day. i don't know. somebody that obviously knows disney's culture. somebody understands that creative types. i say that because of -- >> she was a fox person. went there as part of the fox deal. >> one of the things that happened, previous ceo, blanking on his name, bob chapek. he didn't do well with the creative forces. that is where bob iger came back. i understand your vision for movies and television. >> suppose you want addition are disruptter, you go for silver. pitaro, silver, we'll cover it

like baseball. we're only in the fifth inning. cheryl: if it was my show i would look forward to it next week. charlie, thank you very much. closing bell will ring. we have four minutes to go. more enjoyable to cover than what we're looking at with markets. we do have the s&p and nasdaq actually coming back. dow is still negative down 43 points. remember we had a really rough day yesterday with the 500 plus point loss for the dow. according to "wall street journal" two google engineers built an a.i. chat bot similar to chat chatgpt five years ago and hirer ups shut down because of safety concerns. then they revealed. bard, competitor to chat xp t. our "countdown" closer says google is a great buying opportunity. robert wilson is cio of oak associates. certainly chatgpt, a.i. is all

the rage but do you think that is a good google play? >> absolutely. a lot of information out there in search will really help a.i. as leader in search, it's unusual ben fiduciary of it. the search business is very profitable. they have a lot of money to invest in future technologies like a.i. cheryl: tech seen a lot of layoffs. we talked earlier in the program. a week we focus on jobs numbers, alpha berks the stock on your screen, do you think they will continue to cut the workforce? >> they probably will cut the workforce. large cap tech overhired during the pandemic. they benefited from the work at home. as a result they got a lot of labor they could probably do without, the speed at which they reduced staff will really depend on the economy. if things start to slow even further, but yeah, there is probably more room for layoffs

throughout tech. cheryl: you say unemployment rates usually look low in the months leading up to a recession. does that mean you are expecting a technical recession this year? >> whether it will be this year or next year is the, million dollar question. it is definitely been a slow walk towards a recession but unemployment tends to be the characteristic that will determine whether we have a soft landing, more of a harder, deep recession. number we're watching. we're seeing layoffs in certain parts of the economy. most of those areas we're hiring aggressively during the pandemic and after the. it hasn't quite spread throughout the broader economy. i think that is the hangup for the fed. cheryl: certainly is. are there any other stocks that you like right now that you're tracking? >> you know we think a barbell approach within the equity markets is a good idea. health care is sector, more defensive, more stable. it has been slower to more of a

return to normal. business as usual within the space. and, as a lower beta area in the market with attractive valuation, we think healthcare is an attractive portion of a portfolio. cheryl: all right. well certainly as we move into the closing bell, i will say that the markets have turned around. so this may be a buying opportunity still while the markets are under pressure. again you like klac and elv. we'll track the stocks as well. robert stimson, thank you for your time this afternoon. right now the dow is down 59 points. it looked like hope was lost earlier. we got a little bit of green. [closing bell rings] s&p, nasdaq turned around both ending the session with slight gains. dow second day in a row. we were down 243. this isn't that. i will see you tomorrow. that is it for "the claman countdown." now to "kudlow". ♪. larry: hello, folks, welcome to "kudlow," i'm