is a great report to given with. there's too much old, there's a lot of fluff many there. i believe the jobs market is lot worse than the jolts report says. things are going to probably get really bad really fast. the last thing we actually needed, in my opinion, was to add this political, this political theater to it. really it's -- we've got to find a way to be able to articulate our messages, the candidates go out will the, that they get up there and tell us how they feel and we vote for the person that that we think is right for us. but now politicization is, the weaponization of things like the media, the law, i think it's gone too far, and a little bit of that is reflected in today's session. i hand it over to cheryl casone who's in for liz claman. cheryl: charles, we are going to continue our live, breaking news coverage right now. you are looking at those live pictures right there. this is manhattan the criminal court. former president donald trump has pled not guilty to 34 felony

counts of falsifying business records. fox news confirming this moments ago. president trump is the first former president to ever face criminal charges, to ever face a felony indictment. former president has expressed his desire to the speak to the cameras which, again, you're looking at these cameras right now on your screen. we are located right inside of the hallway on the 15th floor of the manhattan courthouse. the building, basically, is on lockdown right now with trump and his security service detail all inside. president trump is sill in that manhattan courtroom listening -- still in that manhattan courtroom listening to the list of charges against him. again, not guilty, president trump pleading not guilty. we do expect comments from the 45 president of the united states before his departure out of new york's laguardia enroute to west palm beach, florida. he's going on the speaking

tonight at 8:15 from mar-a-lago, his florida residence. one question though, was a gag order issued inside of that courtroom. we can't know. we're just now getting details from inside of that courtroom and, again, president trump is still merchandise the courtroom. we're going to keep these live pictures up. we want to be able to see the president if he does come i out of that courtroom and he decides to come and speak to the cameras, we are going to take those comments live for you. we're going to take anything live that we see on your screen. i want to bring in from outside of the courthouse our own lydia hu. she's been following the case for pus and, by the way, i am cheryl casone, the i'm not liz claman. lydia, again,ing we're just getting and pox if the news has confirmed 34 felony counts, all felonies, falsifying business records, two payments to two women, these are the reports. $130,000 the, we believe this is stormy daniels, $150,000 to cane

mcdougal. set the scene outside of courthouse right now, lydia. >> reporter: hi there, cheryl. well, the arraignment portion of the proceedings today have been going on for more than 30 minutes with the former president, congress trump, entering the courtroom -- can donald trump, entering the courtroom just around i 2:30 this afternoon. he arrived earlier in the afternoon where he proceeded with the booking and the processing portion today. we understand that former president was accompanied by secret service during this entire process. he was not handcuffed. according to the new times, there was no mug shot taken. he was fingerprinted, and he did not speak to the cameras ahead of the arraignment. we are standing by to see the if the former -- if the former president will stop and speak to the cameras after the arraignment on his way out. we also expect he's going to be the released on his own recognizance and return to florida later this afternoon where he's expected to address members of the media and his

supporters at mar-a-lago. several hundred are expected to attended. we're also standing by because we expect a press briefing from the district attorney the, alvin bragg, set to kick off around 3:30 or so from inside the courtroom. and we are waiting also to hear more, learn more about this indictment. to take you a little bit more inside the process of the reporting process here, no live cameras inside the courtroom. and members of the media who have been able to secure a seat, there have only been about 50 or 60 of them, they have been restricted. no phone access. so they're taking notes through pen can and paper. we have a producer who's inside who's going to come outside and tell us exactly what the inside situation was like as arraignment was unfolding. but here you can see photos that have been taken during the arraignment today of president trump there with his legal team. you can see his attorney,s joe tacopina on the left, that is the lady sitting to the his right is susan nichelle, and the

new lawyer he added to his legal team, that we learned he added to his legal team is on his left, our right, todd blanch, a former u.s., assistant u.s. attorney from the southern district of new york with experience in white collar defense. the three of them, obviously, representing the former president here at arraignment that has now been going on for more than 30 minutes. cheryl: lydia, i just want to kind of bring in -- we're getting some more information now, again, as we are waiting to see if president trump is going to the walk out of that court where he walked in, he will walk out, is he going to speak. i want to reiterate what we know right now, and that is these 34 felony counts. and, again, no mug hot, no handcuffs. that was the, obviously, negotiated by his lawyer, joe tacopina, as well as fingerprinting. thank you for that information as well, lydia. we're also seeing, our

colleagues at "the wall street journal" are reporting that basically -- because the indictment has been unsealed, to be clear, everybody. the indictment has been unsealed. but basically the prosecutors in this indictment, again, that's just been unsealed and this is "the wall street journal," prosecutors are alleging that the president trump falsified business records to shield campaign from unflattering information becoming public. they allege, the prosecution alleges that trump falsified business records to undermine integrity and that also he was trying to the to, that the business records were falsified, again, to shield his campaign. once again in this hush payment scheme, according to prosecutors, 34 felony counts, charges against the former president. he has pled not guilty. there are other reports about as far as indictment, is this a conspiracy charge, we're working to confirm that right now. those reports are out there. again, right now, we are working

to confirm that here at fox news. i want to bring in and, lydia, please stand by with me because, obviously, we're following a breaking situation. i want to bring in former fbi special nicole parker, she's going to work to break down what these charges mean, what is next for the former president, what is next for future prosecutions. nicole, a historic day in this country. your thoughts right now. >> this is a historic day in the history of the united states of america, you are absolutely correct. we have never, ever seen a current president, former president ever criminally are charged. you know, it's important to talk a look now at this indictment. this indictment has been sealed up until this point. i frankly don't understand how people even knew that there were 34 counts in the indictment, because it's not legal to leak information from a sealed indictment. so that in and of itself is an issue. and i'll be interested to see how thaw handle and resolve that. i am a former fbi special agent. i recently left the fbi because

i believe that the criminal justice system had had become -- had become politically weapon weaponized. regardless of where you stand on the political spectrum, it's irrelevant, it doesn't matter. you do follow the facts, the evidence, and and based on my experience and what i was seeing, for example, at the, the with bi, there seemed to be a pattern of the political justice system being politicized. and this action today with this indictment being unsealed and understanding that it's 34 counts for falsifying business records for a former president of united states of america while violent crime in new york is raging, i have no yards words. cheryl: you're talking about district the other than the alvin bragg who, to be clear here, over 40% of felony charges he has reduced to misdemeanors. that's just this year. many 2022 alvin bragg, who is leading the prosecution of the former president of united states, or donald trump, more than 50%. of felony, violent felony

criminals saw their charges, you know, reduced to a misdemeanor. but if you're former president trump, you up, you go from misdemeanor up to the felony charges. and again, i want to reiterate if folks are just joining us, 34 felony counts. the former president has pled not guilty. i want to get your reaction as a former fbi agent to the fact so he was not -- he was printed -- fingerprinted. technically, the president was arrested, technically. no mug shot, no handcuffs of the former president of the united states. >> and that's, you know, again, we've never seen in the history of the united states of america, so it's difficult for me to speak about how they handle a former president being charged. but because of the nature of this case, i corespect that they did not -- i do respect that they did not put him through that. it would not have been necessary, and that was the right thing to do, you know many? he was in that courtroom. it's not like he was going to get up and leave, so i think they did the right thing. there is an exorbitant the

amount of security with, you know, the secret service, the new york police department. this is a very dell candidate matter. delicate matter. but the fact that the he wasn't handcuffed, that would be appropriate. he's not a threat to law enforcement. when you're going to conduct an arrest as a former fbi agent, you know, handcuffs are typically used to keep you safe, the law enforcement officers, from someone that might harm you. former president trump, he wasn't going to be a harm today, so i respect that they did do that. that was right thing to do. cheryl: you know, i think, again, the reports out there, you know, that these charges have been filed and the president has pled not guilty, again, you know, it really is a historic day. because i think that, you know, i don't think we ever thought that we would get here. how did we get here in you've been very clear that you saw politicization of the fbi. there are many that believe that alvin bragg is doing this as a political move and that this case is weak. 34 felony counts, again, that's

a -- do these are serious charges to bring against, i mean, the case whether or not they've got the evidence, they seem to think that they do. but you already have republicans, many, saying that this is going to lead to more political prosecutions. they're not going to -- this is alvin bragg setting an example of what can be done if you're on the wrong side of the aisle. you know, we're coming for you. is this what we're seeing today unfold? >> you know, in my opinion, that is exactly what you're seeing up fold. i was an fbi agent, i was working in the federal criminal justice system. i was primarily focusing on violence crime. i had worked white collar crime for several years, so i'm familiar with white collar crime cases, but the bulk of my career was spent working violent crime. in my opinion, the biggest threat facing americans and facing new yorkers right now is probably violent crime. to put this a number of resources, law enforcement resources are spread thin right now. and the put the amount of

resources towards something such as falsifying business records, you know, they say that no one's above the law, and i respect that that. that's exactly correct, no one is above the law. but look at all the9 other people, i can guarantee you there are many people falsifying business records who are not being charged right now with 34 counts. from what i understand, circling around predominantly two transactions. as a former fbi agent, you know, whether you're in the federal system, state system, working with the district attorney's office, the justice system has on the fair. it really doesn't matter it's, you know, local, sate or federal. americans -- state or federal. americans deserve a fair criminal justice system. and when it appears over and over and over that the criminal justice system is being weaponizedded for political purposes, americans use trust in the justice system, and has not right. we should be operating under the highest level of integrity. we are entrusted by the american people to be fair.

cheryl: nicole -- >> and i am not here to favor any political party. this is not about what political party you prefer. this is the about following facts, evidence and operating with the highest level of integrity, and has the only way that we can run this criminal justice the system mt. the united states of america. cheryl: well, what we are watching right now is nypd, we're waiting to see if former president trump, if and when concern we coexpect to see him, if he's going to the speak. that is the question. i want to bring back in lydia hu outside of courtroom. lydia, obviously, a lot of these details are being reported, the indictment has been unsealed. what are you hearing out there on the ground? >> reporter: well, right now we're just waiting for the conclusion of the arraignment for the former president to be escorted out along with his legal amendment the, waiting to see if he's going to the make any statements that he can share with the press. and i can tell you there is still a slew of people here at the court waiting for the former president to emerge from the courthouse. many of them supporters of

former president trump who has been here all day, i that say to protest this indictment, and there are also counter-protesters who are, you know, maybest the an assumption, but who are showing support for the process that is unfolding, certainly pushing back on protesters that are here to support former president trump today as he's going through in this process. but now that we have some information about the indictment, all these felony charges, you know, it raises a whole host of questions about how this legal process is going to unfold. just for a point of reference, you know, one question would be how long could this possibly take. and the answer is probably a long time, more than a year would be a conservative estimate here. just by a point of comparison, district attorney alvin bragg's office recently won a business records tax case, essentially a tax evasion case against with who trump organizations late last year. note though that president trump

was not personally involved in that case. and to bring that case from the initiation of the action all the way through to the conclusion of the case late last year took about 15 months. the cases are pretty different, in some ways this case that was being levied against former president trump is probably safe to say more complicated given that the he is the former president of the united states. it raise as host of constitutional issues. it's reasonable to think this case would take longer. so it seems like we're going to wait and watch him continue to campaign for the 2024 white house as he's also defending these criminal charges that have been launched by the manhattan district attorney. cheryl: right. and, again, the former president pleading not guilty. reports are 34 felony counts falsifying business records and improper payments to two women. those are the reports. we, of course, just now going

through the indictment. it has been unsealed. we are going through that indictment right now just to get more specifics on these charges against former president trump, not guilty. we are keeping our eyes on this arrive shot. lydia hu, please stay on standby. come back in when you get new information as, obviously, we have sources and personnel inside the courtroom as well. and, nicole as well, nicole parker, please stay with me and stay on standby as we wait to see if former president trump is going to the address the cameras and speak. one of the question marks, i just want to throw this out here, with the judge, this budget, juan merchan, is he going to the issue a gag order. don't know, don't know. but if the president comes out ask he speaks, then it's safe to say there's a no on that one. but, again, we're just kind of getting in dribs and drabs right now, details from this courtroom. lydia and nicole, stay with me. we're keeping our eyes on lower

manhattan, we are watching the markets. about 44 minutes to go until we close the trading day. the dow down, as you can see, down 216. nasdaq down 84, russell 2000 is down about 39. again, we're going to keep our eyes on these live pictures. but as far as in particular i want to zero in on nasdaq here. we're on pace for the second day of declines on the nasdaq. there's a lot of wore worries out there about an economic slowdown, and that seems to be outweighing these rate hike worries that we've been, have been plaguing us for the year so far. the jolts report came out today, it actually came in much lower than expected, which was interesting. i want to bring in for more on today's action our floor show, i've got kenny polcari with me right now. kenny, again, we're going to keep these live pictures up, and if i have to break in for the former president, i will have to do that. but, kenny, your reaction so far to what you're seeing. >> in the markets i'm not surprised that the markets backing off. look,ing we went into the end of

of the quarter very strong. we saw tech outperform everything. so today -- and as we move into this week with, it's a vacation week, next week 's a vacation week, so the market's kind of meandering. i don't think anything that's happening on the screen down in lower manhattan, you know, is dick ate thing what the market's doing. those two are completely kiss connected. while it's dramatic, what's happening in lower manhattan, it's got nothing to do with the way stocks are trade, i think they're just digesting that end of the quarter move that saw tech, for sure, have a great quarter with. cheryl: so political connection would be what we're seeing with the economy. this is 2023. we are looking at charges levied against someone that is running for president and has declared that. he wants to resomewhere the white house. and one of the things -- reenter the white house. this jolts report, look, i know the next big piece of data we're going to get and our eyes are going to be focused on is going to be, obviously, the march jobs report. we're going to get that on friday. >> right.

cheryl: we've been waiting. you've got so many layoffs being announced by meta, by facebook, by ford, i mean, disney. take your pick of a large company right now that isn't laying off, i would have a hard time finding one. you know, i think the question is, are we going to finally see that reality surface in the jobs report on friday? because so far we have not. is it a data lag -- >> right. cheryl: -- in your opinion? is it because there's other jobs in other sectors somewhat do you think is happening? >> i think it is a data lag, for sure, although more recently it seems like last week and this week we're suddenly hearing more. look at mcconnell easel thing people -- mcdonald easel thing people to stay home while they lay them off. i think that's going to the start to show up in the number. look, you're going to get a taste taste of it tomorrow with the adp report, expected to show 215,000 new jobs. friday's report is expected to show 230,000 new jobs which is

on up from what tomorrow's report suggests. but remember, no one's going to have the chance to react to that number until monday because friday's a holiday, because no one will be there. cheryl: glad you made that point. you're right, we do not have equity markets trading on friday. and, obviously, that's a question here, you know, about the volatility that we're seeing because really you've got a low volume situation happening out there. you've got passover, you've got easter, and,ing or you know, you can't discount, you know, that side of it. and, again, that goes back to the volatility the story. >> right. but what happens when you have vacation weeks like this and a lot of people are way -- are away, you'll gets asset managers that the that will put in bids below the trend line, and you'll have them put sell orders up99 where -- up where they view resistance at 4200 to take advantage of any wild swing up or down while they're away from their desk, right? you'll see volumes decline which will then add to the increased volatility so there'll be less

people participating until either you hit those resistance levels or support levels. i think there's plenty of support at 4020 the, and i do think there is resistance, so i think we're going to be stuck in there until we get more data. is it going to be the friday's report? let's see what it says. i think the data's going to be in this month's cpi and ppi report which is going to speak directly to inflation. and now that the saudis are pulling back on production, expect gas prices to continue to go higher, and that's going to exacerbate that inflation story. st it's going to put the fed in a tough the position. cheryl: well, they've been in a tough position for a while. [laughter] bank earnings are kicking off in a couple of weeks here, and you're expecting downward revisions. i've seen some i estimates from the s&p 500 that we're going to see a 6% decline from q is of 2022 to 2023. that's a hefty fall. >> we've been talking about it, no one should be surprised if that, in fact, happens.

is it going on the 6%? i'm not sure. but i do expect ahead of earnings season anyone that's going to miss, trying to guide loreing they're going to come out and confess because you and i both know the ones that wait until earnings day to deliver the really bad news are the ones that get really, really punished by investors. the ones that give you a heads up a couple weeks before and they guide lower and they talk about some of these difficulties, they do get punished but not nearly as much. but it does snag are there other problems in that industry for other names, and so that's the clues you're going to be looking for over the next couple of weeks. cheryl: kenny polcari, you are going to stick around, i'm going to check back in with you as we see how the markets close out the day. kenny, good to see you. see you back in a little bit. >> yep. cheryl: all right. we're going to the, of course, keep our eye on what's happening in lower manhattan, and is we're going to switch gears and talk about something that's been pretty intriguing as well.

seems like ftx is in the rearview mirror when it comes to crypto. do you know bitcoin's up 70% year to the date? coming up next, entrepreneur brock pierce is here to talk about the outlook for digital the currencies amid the ftx fallout. "claman countdown" coming right back. back. ♪ ♪ at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcias, love working with you. because the advice we give is personalized, hey, john reese, jr. how's your father doing? to help reach your goals with confidence. my sister has told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial.

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cheryl: all right, we've come back in because right now we are monitoring these live pictures from lower manhattan. again, it looks like court, the session has now enended. it looks like the arraignment of former president donald trump has ended. we're seeing a lot of activity, a lot of personnel actually leafing the courtroom. in particular -- leaving the courtroom. the big sign would be seeing secret service leave, the president's attorneys, joe joe tacopina, todd blanch. we've got lydia hu outside of courtroom. we are going to keep our eyes on these live pictures coming out of lower manhattan. we coexpect to see at any moment, we're seeing the activity now, you're watching it with me on your screen, so we coexpect to see the former president leave the courtroom. so we're going to the leave these live pictures up and see what's going on here. there's definitely some movement, hopefully our camera does not get moved itself.

let's talk about crypto as we keep these pictures up here. crypto bulls out in full force. bitcoin jumping theory 70% this year. climbing over $28,000 for the first time since june, how about that? dogecoin got a 30% boost over the past 24 hours, but that's coming because of elon musk. the twitter ceo. he changed the platform's bluebird logo to the doge dog. will the crypto bulls continue to to run? let's bring in crypto foundation chairman brock pierce. st been a wild ride for crypto. what do you make of this move by elon miss changing -- elon musk changing the crypto handle inst a pretty big story. >> crypto's always been a wild ride. yeah, elon has definitely had a lot of fun with all of this in the spirit of the dogecoin and its meme. i mean, that's what's built this community. it doesn't have differentiated technology. it has just built an incredible

community. i'm here in austin, texas, right now at the independent national convention, and out front is a million dollar mcif heroin with a -- mclaren with a dogecoin as elon musk, i doubt he's making this change permanently, but he loves to have fun with his position. he makes height of it all and i think -- i'm thoroughly entertained. if you're really into this stuff, i coadvise you to look into bitcoin first, not doge. but we're living in interesting timeses. cheryl: it's elon musk. you've got to -- anything that elon musk touches may go up or down, but the guy's a genius. let's talk about ftx. sam bankman-fried certainly was, you know, the biggest hit to cryptocurrency, and then we saw signature bank fall. obviously, it's because of of the crypto exposure at signature bank. there's been a lot of rough headlines regarding crypto, and it makes a lot of regular investors nervous if about

digital currencies. how do you combat the negative headlines right now in. >> well, i think they're trying to make bitcoin or cryptocurrency the scapegoat, and i'm pretty skeptical that that's the issue. let's take a look at silicon valley bank. what actually happened there? interest rates had been raised by the fed, and silicon valley bank had a bunch of 5-year treasuries, kid not have enough reserves there, and they actually didn't have a chief risk officer for the last eight months. and so crypto's being named as the scapegoat when this is bad risk management, bad governor governance -- governor governance and not being prepared. they want to make crypto the bogeyman. signature, it's less clear what happened exactly there. cleary, crept suisse was not a crypto risk, but a lot of people are trying -- the responsible parties. don't want to take the blame, and so they i try to find a fringe group or concern. cheryl: brock, bork, hold on just a second, if you could just

stand by, an update on the breaking news we've been following during this hour. brock, just stand by. you're looking at live pictures of former president trump's motorcade. president trump has left the courthouse after his arraignment. again, 34 felony counts according to reports. we have confirmed he has pleaded not guilty to those charges of falsifying business records but, again, president trump -- we were waiting to see if he was going to the speak, and he chose not to. so just want to update our viewers on what we're watching, and we'll keep these live pictures up as we, of course, follow the president. by the way, it is the expectation now that mr. trump is headed to laguardia airport and is going to head back to florida. he does plan to speak, as far as we know, tonight. a question mark, throwing this out there again, was there a gag order issued? don't know, working to find out more dethe tails. we've got lydia hu on standby outside the courtroom. we'll go back to her. brock, my apologies, i wanted

the get that in. we're talking about signature bank. i understand silicon valley bank, and we know that was some, well, some bad choices in their investment portfolio especially with their london bond portfolio. but signature bank seems to me to be more of the stain, if you will, on crypto. is that a fair assessment, or do you dispute that? >> well, no, definitely signature had an active, a much more active business in crypto. and if you wanted to bring that into the conversation, definitely more relevant, i think. that wasn't the case with silicon valley bank. but definitely, what you brought as well as ftx and sam bankman-fried or sbf, that happens to have been the business he was in. but, you know, fraud is fraud, bad governance or lack thereof is lack of governance, and whether we're abe the enron, madoff or any of these historical examples, i think these types of events and behavior are not relevant to the industry, per se is. it doesn't -- it has nothing to

do with cryptocurrency as an asset. it has nothing to do with blockchain edge the, actually, it's the issue was centralized finance and middlemen and certainly unregulated ones in this case where bad actors and bad events have occurred. cheryl: yeah. blockchain -- >> [inaudible] cheryl: blockchain is a different story and i think blockchain is a different investment path forward than the actual cryptocurrencies themselves. there's a hot of fascinating technology when it comes to blockchain. my apologies for interrupting you, brock. it's good to see you as always, thank you. i do want to once again show you these live pictures as we're watching president trump's motorcade. he's on the fdr, we believe he's headed back to laguardia airport. he's going to be the departing immediately. i want to bring back in lydia hu who is outside of manhattan court. lydia, so we, we didn't hear from president trump.

i'm still wondering about the gag order situation. we're still trying to figure that out. but also, ooh the, i'm curious what the scene is now that he didn't -- did anybody see him? did you see him when he left the courtroom or kid you just see the motorcade? >> reporter: no, cheryl, or we did not see the motorcade. we are standing directly in front of the main entrance to the courthouse, and he exited out of a side door and zipped away heading north, presumably definitely away from the courthouse, perhaps if back home or to that guard ya airport, as you said -- laguardia airport, to return to florida. there are still many folks here, many supporters that were waiting around for their chance to see and offer their support of the former president as he was leaving court. they did not seem to deeducate the him because it was still -- detect him. it was still very quiet here as we were tracing his steps on the video feed exiting the courthouse and into his

motorcade. people have remained calm, peaceful. there have been some emotions expressed, some, a lot of frustration, a lot of passions here, some tearses as well of some of the protesters who are speaking out against this indictment of president trump. but, by and large, this has been a peaceful gathering. most of the people here of the protesters are showing support of former president trump. fewer of them are counter-protesters and, again, a lot of media with a lot of nypd and security presence. as you said, again, former president trump is departing manhattan the criminal court after reportedly pleading not guilty to 34 counts, felony counts of falsifying business records. that is coming from reuters odd. we are still waiting for an opportunity to take apart this indictment and get a better understanding of what sol of these charges are brought by the manhattan district attorney's office, alvin bragg. we counderstand they are relating to hush money payments allegedly paid to stormy daniels

and karen mcif constitutioning during the 2016 campaign time period. cheryl: all right. lydia hu, certainly we are all looking into getting into the actual nuts and bolts of that indictment. that indictment has been unsealed, now we need to go through it. lydia hu, great job down there. thank you for stand by with me. we're going to keep up these live pictures, we're monitoring what's happening with the former president. we also are following markets. dow is down 256 right now. one of the stocks we're watching right now, let's take a look at etsy. the stock right now, as you can see, is under pressure. excuse me, not urn pressure. piper sanler upgrading that stock to overweight from neutral, citing the strength of the online retailer's marketplace which it believes has the ability to boost actuve buyer growth. getting a boost right now, it's up about 1%. so we're watching etsy for you right now. meanwhile, let's take a look at shares of movie theater chain

amc. that stock, it's tank thing. it's down about 23.5%. amc entertainment up 13, almost 4%. there's been -- 14%. there's been a shareholder settlement that's going to result in the equity ape unit into shares of common stock. now, this in addition to allowing a 10 to 1 reverse stock split to to raise capital. shares of ape moving in the opposite direction as you can see there, and that's the stock i referenced that's up about 13.5 president. shareholders have filed a lawsuit accusing the company's executives of purposefully creating ape shares in order to wipe out the voting power of investors who had not sported issuing new shares. so these are two big stories today. let's take a look at richard branson's satellite launch company, this is virgin orbit. ooh ooh, the has been a rough one. stock's down about 26.5%. they filed for chapter 11 bankruptcy protection. virgin orbit, a spin-off of branson's virgin grabbingic the

space tourism company, said it's going to the lay off nearly all of its virgin orbit work force. they had an event earlier in the year. unfortunately, they just couldn't recover from it, they had a rocket issue. finally, let's that take a look at first republic. stock is down about 6% and change here, there's a report by a financial data company that named the stock the most profitable short trade last month. short sellers making $848 million in profit by getting against the regional bank. now, shares of first republic have fallen more than 88% in the last month over fears it's going to suffer the same fate as the now-defunct silicon valley and signature banks. a lot of worries, a lot of obvie banking sector. jerome powell has said clearly he thinks the contagion is well contained and that the banks are safe. all right, we're watching all of these stocks, of course, following the breaking news that the former president of the

united states, again, has pled not guilty. we can confirm that. 34 felony counts reportedly. we are going through several pieces of breaking news right now. we're watching the markets and we're watching these live pictures as the former president heads out to laguardia airport. he's going to be heading back to florida, west palm beach airport, and then from there to mar-a-lago, his home in florida. we coexpect president trump to speak tonight at 8:15 p.m. eastern time. again, the breaking news, the indictment of former president trump, a historic day. no former president has ever, ever been indicted and charged with criminal charges like this. all right, we'll be right back. or excuses to unplug. you can't buy possibilities, and you can't buy moments that matter. but you can invest in them. at t. rowe price we believe your investments should work harder for the future you imagine.

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sarah shaw: my day job is as an author relations manager for a publisher. i'm in books, and i think about stories all the time. the st. jude story, it's a beautiful, beautiful story that you can't make up. fundraising and raising awareness for st. jude is not just helping kids in the united states, it's helping kids all over the world, and that's a huge deal. what i do really does make an impact. so i love what i do for st. jude, and i just know that i'm in the right place. cheryl: once again the indictment against former president donald trump has been unsealed. we are going through it right now. prosecutors saying that the former president made a series of threatening social media posts. it's a 34-count felony

indictment. again, it has been released. the crime is falsifying business records in the first degree, that is according to the document. the indictment accuses the former president of false iffying trump organization's general ledger with intent to defraud. the president, again, 34 counts falsifying business records in the first degree. there is also charges against him for conducting a,9 quote, catch and kill scheme to suppress negative information while he was running for president. also prosecutors are seeking a protective order regarding a discovery in the case, and he is accused of paying money to suppress two the women's accounts of sexual encounters. i want to bring back in nicole parker, former fbi agent. as we're learning more details and awaiting the former president to depart new york, these have very serious

allegations. how, how does the team handle this? i mean, this is -- again, i keep saying the word unprecedented, it's historic. it's historic to see this level of charges and the vitriol. as i'm reading the indictment right now, i can't believe the things that this former president is being charged with. it's incredible. >> you know, i have not seen the indictment. obviously, it was sealed, it's been unsealed, and i have not had the opportunity to hook at it. just based on what you're telling me, they're going to be the reviewing that indictment, every single count will be looked at. they will determine the strength of the case. you know, i understand that they are looking at possibly asking for a change in venue to have a fair trial if it even gets to that point to have a trial, and the discovery order is very, very important. when you're being charged in the case, you want to know what they have against you, and the discovery allows you to see the evidence that will be used

against you to support their allegations that are listed in the indictment. i think very important thing to remember is that former president trump and any individual that is criminally charged is innocent until proven guilty. and everyone must remember that. you know, you have to let lady justice work through the system. to get an indictment is a certain threshold of probable cause, okay? so to get the indictment, the threshold is probable cause, and then to actually convict someone at trial, you have to prove beyond a reasonable doubt. sos the a much, much higher threshold. from what i understand, former president trump is not interested in ever signing any sort of plea agreement. he is going to see this case all the way through, and so, you know, if there's a motion to dismiss, there's going to be many, many motions involved in this case. this is going to be a very lengthy case. but, you know, we'll see what happens with it. but, you know, he is presumed

innocent until proven guilty. cheryl: i do want to say that the reports, if this is a reuters headline, that the judge did not impose a gag order at this time, kid the not. so president trump so free -- did not. so president trump is free to speak about what has transpired today. again, we believe we're going to the see him tonight at 8:15 p.m. eastern time from mar-a-lago. you know, i think what's so interesting about this is, you know, your experience in the fbi is that you were, arresting, investigating cases. a crime would happen and hen the you would look for the perpetrator of said crime, violent crime i know was most of your background. this was here's -- we've got the guy, president trump, let's figure out what the charges can be against him. they've spent, they've been working on cause for three years in the manhattan d.a.'s office. i mean, he -- bragg got this thrown at him from cy vance. alvin bragg's been in office

since early last year. it just makes me wonder why, why it took them, a, so long and why is it now they're talking about, you know, him breaking federal election law when it's a manhattan des moines a.? there's just so many things that don't ad up, to me, in this. >> i have the same questions that you co. it sounds to me that there were multiple declarations on this fact pattern. of course, i don't know that for a fact yet until i see the unsealed indictment. but typically, when i was an fbi special agent, again, i worked white collar, i worked violet crime, i assisted with multiple different crimes that the fbi investigates, and my approach is that the you are told of an allegation, and you find the evidence. you follow the evidence. the evidence leads to the subject. who eventually is charged. if there's enough evidence to determine, you know, he's taken before the grand jury. let them with the level of probable cause, they will

determine whether or not they will be indicted. and i agree it's very -- i have never worked an investigation in my years with the fbi where you find the person and then you back into the crime. that would be totally, absolutely inappropriate, and i worked with amazing federal prosecutors and assistant united states attorneys, the ausas. that would not be tolerated. that would not be okay. but unfortunately, i am seeing more and more examples, again on the local are, state and federal system, where it seems to be that way. cheryl: right. and i want to let our viewers know you're looking outside of the courthouse with our own lydia hu is also going through the unsealed indictment as well, so we're going to keep these pictures up. obviously, we believe that the attorneys are out there. we're also waiting to hear from alvin bragg. the microphone is there, the podium is there, so we with expect to hear from manhattan district attorney alvin bragg at some point in the next, well, few moments. we will obviously take those

comments and get to you. and, nicole, a i've been reading through, you know, the indictment. he's talking about, according to court documents and statements made on the record in court from august 2015 to december of 2017, trump orchestrated his catch and kill scheme through a series of payments that he then concealed through months of false business entries. and they're also, they're talking about a trump tower doorman, american media paid $30,000 to a former trump tower doorman who claimed to have a story about a child out of wedlock are. this is included. i'm trying to make sense of that right now. and a $150,000 payment to a woman who alleged she'd had a relationship with the president. we believe that to be susan mcdougal. karen can mcdougal, excuse me, and another $130,000 payment is mentioned in here, that is stormy daniels. you know, i think at the end of the day, nicole, i want to say here that the fbi is full of

incredibly hard working, dedicated professionals. and i think your point i think is so interesting here that they've been politicized. and you think that the fbi has been politicized not just here in this -- i mean, this is the manhattan d.a., but also what happened at mar-a-lago, january 6th, what's happening with those investigations, you know? i mean, your take on where the fbi is today in all of this. >> i have very strong thoughts about this because i did my best to serve with honor as a special agent with the fbi. i served in the miami division, and i can reassure you ask and i would like to reassure all americans, there are amazing, fine men and women that are serving with honor across the country in the fbi. i worked with amazing law enforcement officers across the board, local police departments, task force officers. there are fine men and women that are holding the line. is so please know that there is integrity still in the system. the key is that everyone should

be operating with integrity, and right now it just appears that that's not the case. and if you are not in alignment with a certain political party or who is in power right now, it's almost as if you, you know, just be careful. and i am not here to tell you about any political party. i am not here to favor any political party. that would be absolutely inappropriate. i am here to follow the facts and follow the evidence. and when i hear of a case like this against a former president of the united states of america, that is a big deal. and and like i said, no one is above the law. of course former president trump is not above the law. but so is -- no one else is above the law either. so maybe we'll continue to see additional charges of other individualings who have probably, or you know, committed ore crimes? maybe they should be charged as well -- cheryl: i think -- >> the problem is a lot of americans think it's one-sided, and that can't be. cheryl: i know a lot of new yorkers feel that there's a lot of violent concern -- criminals that are roaming the streets and alvin bragg needs to keep the felony charges against them in

the place. he doesn't seem to like to do that very much. nicole parker, thank you for saying dis, staying with me this hour, really appreciate it. nicole parker. all right, former president donald trump again has pleaded not guilty to 34 felony counts of falsifying business records in a manhattan courtroom within the last hour. the form ifer president now is heading to laguardia, set to return to mar-a-lago where he's going to make remarks in front of supporters later tonight. ashley webster is outside of mar-a-lago. ashley, as i just reported, there are reports that the judge did not issue a gag order, so the president is free to speak. >> reporter: yeah. cheryl: what do we expect to hear tonighting? >> reporter: but also, cheryl, the judge warned the former president about his social media with posting. i'm not sure whether that will have any effect. as you may recall earlier today, congress trump tweeting out that it was the -- donald trump tweeting out that it was an unfair venue, a highly partisan

judge, juan merchan, and it was a kangaroo court among other things. he also suggested that the manhattan des moines a., mr. bragg, should indict himself for the leaks that have come out of his office. i think that's exactly the tone we are going to hear tonight. certainly since the indictment was first known about last week, we've had a consistent message from donald trump thats it is political persecution, a political hit job, a political witch hunt, and i think that is what we're going to hear tonight especially given what we've now learned with that indictment being unsealed, cheryl. i don't see any huge surprises in there. there may be something buried deep, but at this point it appears that the case that was first announced is just that, and that's going to really fire him up. he'll be speaking, as you say, behind me. he's scheduled to speak about 8:15, i think it's taken longer in manhattan than expected. hundreds of people expected at the ballroom here at mar-a-lago, and he's going to to let rip, i am sure, about indictment and

also an opportunity again to rally the base. this really has been a rally around the flag moment for donald trump. you know, you forget he is running, he's a candidate for president many in 2024. he's way ahead in the polls of all his republican challengers, 30 points ahead of the next one, ron desantis, who hasn't even officially entered the race yet. so we're going to the hear a very fiery donald trump tonight, that is for sure. maybe i trying to woo some of those voters in these very early stages who may be undecided. but should be a very interesting speech, of course. cheryl? cheryl: it certainly will, ashley. do want to go back to lydia hu outside of the courthouse in lower manhattan. a lot of activity we saw a few moments ago. looked like lawyers, we assume lawyers for president trump were outside. what's happening now?

>> reporter: yeah, we are seeing a lost activity. we're getting an update from our fox news side, jake gibson who is the department of justice producer. he was the gentleman sifting inside of the courtroom when live cameras could not be there, giving us color exactly what happened. he shared with us a small room that president trump entered with his legal team appeared very serious and somber, pled guilty, excuse me pled not guilty to 34 countses, 34 counts of falsifying business records. we are hearing, we have a copy of the indictment that these counts are predicated on what is called a catch and kill scheme in coordination with a company called ami, american media, operated by david pecker. this would involve offering money for stories and then having no intent on ever

publishing those stories. the intent there, the allegations are that president trump orchestrated these schemes to kill the stories so they would never be published. these people would not be able to go somewhere else to share their stories because they had been paid. they have outlined in the press release, gone through three examples. one example, for example, alleges american media company paid $30,000 to a former trump tower doorman who claimed to have a story about a child that trump had out of wedlock. to remind everyone these are allegations. the former president has pleaded not guilty to all of this. what happens moving forward now is a long and lengthy motions process. you mentioned there is no gag order been entered. former president trump did not pause to speak with reporters immediately after the arraignment. all eyes will be on mar-a-lago for later this evening to see, what he has to say to his

supporters. we understand he will address a room full of 500 of them. but there is extensive motions practiced anticipated before trial. trial i believe has been scheduled correctly from our colleague jake gibson early next year. motions practices will play out between now and then. so we'll have more to come on the show. cheryl: motions to dismiss i am sure will be quickly coming. lydia hu great reporting outside of the manhattan courthouse, thank you. we have 2 1/2 minutes to go before the end of the trading day. major averages are finishing lower. we're off the lows for the dow, the s&p. a little bit of good news. we have kenny polcari. we have the jobs coming out. kenny, final minutes your thoughts? >> tomorrow like i said we'll get a taste of what the non-farm could look on friday. it's quiet week.

you will not have to make any decisions until next week. i expect the jobs report comes out where they expect it is. i don't think you see deviation one way or another. that will keep the narrative just the way it is, 25 basis-point hike in may. we'll see after that, i think they will pause after that. >> you think. i have seen the feds funds futures moving 58% last i checked quarter-point hike in may or june, not both, may or june. >> right. cheryl: employment data, but the employment data is a big kicker here. that is where i think, also the recession debate, right, kenny? >> i think you're right. tomorrow's adp number is really off the mark, if it is much stronger than what the expectation is, that will set up speculation what happens on friday. remember sometimes they move in tandem. sometimes they don't. so it is difficult to see. we'll get a tonyaway what tomorrow's report says. cheryl: we have 40 seconds left

with you, final thoughts as you move into earnings. here we go? two weeks away. >> that's right. 14th when they kick off officially with jpmorgan but like i said, i expect to see downward revisions over next couple weeks. then i suspect that the guidance forward will be cautious, not really robust, just a lot of caution going forward for the next quarter. cheryl: kenny polcari, great to see you, have you, listen to see you as always, we can't see you because we're looking at live pictures. we're looking at pictures from laguardia airport where president trump is going on up going. he is actually entering laguardia. we think we'll see district attorney alvin bragg. [closing bell rings] that is it for me. liz is coming back tomorrow. "kudlow" up right now. ♪. larry: all right, hello folks, welcome to "kudlow," i'm larry