his rationale is that europe must if become autonomous, the third pole in a global power. but they're not going to get there with a combined military budget that's less than china, an r r&d budget that's not even greater than -- it's $241 billion combined, not even one-half of china's, about a third of the united states'. meanwhile, far fewer at tents than japan, career, india, not even in the top five or ten. china's belt and road initiative is making its way across europe. so france is fighting the united states against green subsidies, macron says the dollar is too resilient -- too reliant, rather, on the dollar, and it's just really worrisome. the old saying, keep your friends close and your enemies closer, but i think we got a wake-up call with france over the weekend. liz claman -- the. liz: [speaking french] [laughter] thank you, charles.

charles: see you later. liz: well, we kind of have stocks in a mixed picture as we kick off a major week where first quarter earnings and crucial economic numbers will make the difference between rallies and is selloffs. check the. the gauge down the on wall street, partly sunny with the dow jones industrials right now at the moment in the sun up 57 points. so that's where that is. but the russell's not bad either, it's up about 15 points. we do have some showers over s&p and the nasdaq though. the s&p, while earlier was up about 2 points, is down just under 1 point. the nasdaq down about 10 pointings. today is also the first opportunity investors have to the trade since that strong monthly jobs report came out on good friday, because the markets were closed. march saw a gain, in case you missed it, of 236,000 jobs, and the unemployment rate ticked down a tenth of a percent to 3.5%. and and how are stocks, bonds and everything else trading?

what do investors hi? just look at government bonds. the 2-year popping above 4% in the 11 a.m. eastern hour, and right nows the holding right there at 4%. keep in mind volume is very light, today is a holiday the for the european markets. but a big move considering last week that the 2-year yield had tumbled 74 basis points, i couldn't believe this, biggest decline since 1987. then you flip it over to the 10-year yield which had hovered around 3.39% on friday, right now 3.41%. now, the drops of last week reflecting, i mean, obviously, that worry overhang from the regional bank crisis which began march 9th with the collapse of silicon valley bank. questions remain about whether there are more cracks bemete the banking sector the's surface. first republic is up about just under 1%. actually, the it's been in the green most of the session after it revealed in a filing it is

halting the dividend on its preferred stock as a, quote, measure of prudent oversight. the california bank had already suspended its dividend on its common stock last month when it became so unstable that it required $30 billion in deposits by major financials just to prop it up. coming up in his first interview since first republic's suspension of its preferred can dividend, economist nouriel roubini, aka, dr. doom, in a fox business exclusive. we are going to ask which banks he believes are insolvent, the signs he says mean the market's finally hit a bottom and whether the federal reserve might cause a market accident if it raises rates at its may meeting. well, no accident in chip land, investors have a firm grip on the semiconductor steering wheel. micron populating the top of both the nasdaq and the s&p 500. news that samsung plans to cut memory chip production giving micron a bump, and also to, you

know, you've got western digital doing really well as analysts interpret that to mean that samsung will not aggressively fight for market share. nice moves here. micron up 7%. western digital up 8%. march vel technology up 2 concern marvell technology up 2%. apple, on the other hand, down at the moment. we've got it losing just under 2 points -- 2%, rather, on some stunning pc sales numbers. according to international data corp., apple's first quarter pc shipments face planted, down 40.5% year-over-year. and they're not the only ones, but they were the worst. is this a screaming second quarter strategy signal? let's are get right to our floor show traders, we are thrilled to have mr. jon najarian and mark lo pressty here. jon, those numbers were just horrific, i mean, really, really ugly. and it's not, obviously, just apple. hbq suffered greatly.

lenovo, dell, they were all down counsel-digit percentages. -- double-digit percentages. you can see just how bad it is for the hardware a makers, but does the that mean that the chips are the place to be? >> what because warren buffett always say, give me a one-armed economist because they'll always say, on this hand, this is really bad -- [laughter] liz: on the other hand -- >> but on the other hand concern no, they're going to clear out this inventory, and they're going to move up price for the new stuff, but they're probably going to have to cut price. apple's going to have to do it, lenovo's going to do it, they're going to have to move that old invenn our. the fact that the prices of the inputs, as you said, samsung cutting production is good for all those err chipmakers, but it means prices are going up on all the new stuff that gets made. but this is all about the old stuff that didn't get sold and/or that they decided let's just cut back on production until we think the consumer's

better. liz: but would you stay away from hardware guys and go with the chipmakers? aren't they kind of interdependent? >> they are very interdependent. it's hand in glove, as they say. so i would say that we're either going to see a big drop out of stocks -- like apple's up 24% even of after odd's move -- today's move. year to date we're barely four months into the date, and apple's up 24%. and they can only hit it by less than 2% today. so people are obviously looking through this, liz, looking forward. mark and i, when we were talking, we were saying does mean that this is another sign like costco that the consumer has sort of hit the wall and is putting on the brakes as far as big spend. liz: well, big spend is $15000 laptop -- 1500 laptop. we are getting the cpi for the month of march two days from the now. that is an extraordinarily important number for all of our

viewers, all investors, the expectation is that it will pop 5.2% year-over-year. the core is really what matters. core price for year-over-year, we're looking at 5.6% and, you know, compared to 5.5%, that's going in the wrong direction. now, haven't consumers seen inflation blow a hole in their wallet that needs some time to stitch and repair? >> well, liz, we talk about this a lot on the show, consumers tend, unfortunately, in this this country to delay the impact of inflation by just putting it on the credit card, right? and we're seeing that in the an all-i'm-high credit card balances are $930 billion in this country, right? almost a trillion dollars many credit card debt. at some point in time, there's no more credit left when you bust out that credit card, and what do you scale back on firstsome the high dollar stuff. maybe the laptop i have can last me another six months. maybe i don't need the new lenovo or apple, what have you, the latest and greaters.

so we are looking -- greatest. we are looking at wednesday's cpi print, signs of consumer capitulation. has the consumer finally seen and felt the pain of these inflationary pressures that have been going on for so long. liz: and so what is the overall trade not just when we're talking about the hardware makers versus the chip stocks, but what do you pile into at this point? >> well, the fact that samsung just kid what opec+ did a week earlier, obviously, completely different commodity the, chips versus crude oil, but the fact that you've got production being cut, liz, tells me prices are going up. so if i had to pick something especially with pioneers news today that exxonmobil was chasing them, i would say conocophillips. another stock with a lot of exposure to what goes on with fracking and so forth. that's why exxonmobil wants pioneer, so i'd say keep an eye on this just like you're keeping

an eye on marvell, with micron and western digital. liz: well, you know, if we wait til the cycle goes through and we stretch conocophillips to longer than just a week, would you be buying at the highs? the lows? tell me what we're looking at here. i mean, way high, right? >> oh, i think that one goes towards 120 a share. it was 106, i think, this morning, conocophillips. i think that one goes up towards 120. why that? because you always ask me about the options. those are the options they're buying in, may and june are at the 120 stripe. so that's my target short term, liz. liz: what about you, jon -- score concern sorry, mark. >>st the really okay. i've been called worse. [laughter] liz: talk to me about the overall picture when you're defining for a client the investments that will work no matter what happens with the federal reserve, is there an area whether they stop, today

pause, they cut, they keep rising? what do you think? >> well, there are some themes that historically have played out over time, right? one of them is the commodities theme which we've spent a lot of time talking about on this show and others. and that is to say if you look historically, when the fed gets to a point that they either signal heir done raising rates or indicate they've stopped raising rates, commodities tend to perform really well. we've been looking at things like lumber as an indicator. that tends to be sort of a canary in the coal mine both positive and negative -- liz: positive for building, home builders -- >> yes, correct. and perhaps the demand perspective is not as negative as the home builders may have indicated in their most recent earnings reports. but we do see over time that when the fed's done, these commodity prices tend to do very well. we've seen that expressed in gold, we've seen that expressed many silver. so that's something that we're looking at very carefully. liz: gold pulling back about 1% at the moment to $2,005 per troy

ounce. i mean, that's -- >> this close to the record highs. liz: we had mike novogratz sitting here on the air last week saying that it will hit $2,070 to by the -- soon. >> oh, yeah. i think we're going to see new record highs for the precious metal. i think silver, to mark's point, goes right along with it, might even outperform gold over the short term here. liz: you buying futures then or playing the options market? >> i am. i'm in gdx, which is the gold miners, glk, which is the etf -- gld which is the etf for gold itself, and just in the last couple days i bet kgc, and both that and hl are very cheap. heir both $6 or $4.50 between those two. that's pretty cheap shot to play for an upside that could be pretty big. >> we bought the silver etf a

couple weeks ago -- >> true. >> just for kiss close your purposes. -- disclosure purposes. liz: silver has more of an option to use it. buffett does not like gold, he says it just sits there, and of course, peter schiff says, no, go into gold. it's great to have you both, thank you so very much. first republic vaporizing its dividend on preferred shares as more weakness continues to materialize in the banking sector. in his first interview since the latest dividend suspension, nouriel roubini, aka dr. doom, joins me next to talk about the unfolding banking drama and and why he thinks we're, quote, sleep walking into a recession. but despite e his well known nickname, dr. doom says the minute he sees a market bottom, he's going to become dr. boom. the signals he's on the lookout for, straight ahead. we've got the closing bell ringing in 49 minutes. dow jones industrials gaining about 44 points. let's see if it can hold. "claman countdown" is back in

the a minute on this monday. ♪ ♪

liz: a ah, beware the late friday filings. okay, that's often when companies reveal moves they'd rather you miss.

late friday embattled regional bank first republic said in a regulatory filing it would suspend the quarterly dividend on its preferred stock, quote, as a measure of prudent if oversight. this after it cut dividend payments on its common stock in the wake of the silicon valley bank collapse one month ago today. today's shares are moving higher by about a third of a percent, but they've gotten shredded over the past month and have lost 83%. is the latest suspension a sign that u.s. banks and maybe even global financials are still stuck in a very long tunnel that's about to get darker? joining us now in the his first interview since the filing on friday, nyu economics professor nouriel roubini, aka, dr. doom. he's here in a fox business exclusive. great to see you. first republic says it's just being financially smart, but what does that move tell you about the state of u.s. banking right now? >> well, it tells me that not

just first republic, but also for many other regional banks their business model right now is severely challenged. they have a narrow deposit base, they have a large amount of uninsureed deposits, and now people are realizing that they can earn, say, 4-5% on money market t-bills that are insured by the government. when they get close to 0 on their policies. so that's the source of the mental problem and, therefore, these banking problems are going to continue for these region regional banks. liz: what about contagion? do you see any spreading of these real problems among the bigger names? >> well, the bigger names have a wider deposit base, they have less losses of their deposits. i think a lot of the depositor orses moved to the large money center banks that are too big to fail. i think the problems are with the regional, but the regional

banks are significant lenders to the mortgages, for small businesses, for commercial real estate and, therefore, we're going to have a credit crunch. that credit crunch is going to make the likelihood of a recession, i think, much greater than before. so we're facing a serious credit crunch for a good chunk of the u.s. banking system. liz: okay. but when you say -- and you have said -- that most u.s. banks are insolvent. who are you talking about? are they going to fail, or do we see the fdic and the federal reserve swoop back in just like they did for silicon valley bank and signature bank as they collapsed to protect those depositors? >> well, i've said that many of the smaller banks are insolvent because they have very large losses on their holdings of securities. for the u.s. banks overall it's $620 billion of unrealized losses on $2 trillion of

capital. and even the value of the loans now is underwater because they lend a lot of mortgages and other loans when interest rates were lower. and with interest rates higher and their borrowing costs higher, there are also losses on that side. people have estimated that the overall u.s. banking system have losses of $1.75 premium on $1 of assets. now, they used to have an asset that was deposit franchise asset, but now that interest rates are hire and people are feeling that they can earn much more than close to 0 on their goes sents and there's a flight concern deposits even in value of the franchise to the shrink it. so many of them are challenged -- liz: right. well, wasn't that the problem with silicon silicon valley bank? they had way overinvested many treasuries that were way long term when rates were so unbelievably low. everything's reset to much higher rates.

i mean, just look at the 30-year, 10-year, 2-year over the past year, and that's where they got into trouble the. and then there was a run on the banks. a lot of people would say this is in the rearview mirror, no more problems. what do you say to that? i'm looking at first republic. they're getting price target hikes, and come of these other regionals are getting upgrades. what do you say about those analysts? >> well, what's happening is hat the problem with silicon valley bank are similar to the problem of a number of these regional banks that had a narrow deposit base. a large fraction of the deposits are insured, many of them at significant losses up to 50% or more of their capital, unrealized losses, and they're also underwater on the real value of their own loans that were made when interest rates were much lower. liz: right, exactly. >> and now that people realize they can earn much more. maria: in a safe money market fund, the bleed whering's going

to continue -- liz: i don't mean to interrupt you, but what about schwab? schwab started to jiggle and waver a little bit during the collapse of silicon valley bank in the wake of that. it fell to about $51.92 as, i guess, march 13th. so right after the weekend where the two banks had collapsed. it then recovered on the 15th of march to about $59.55. but it's at $51.95 now. so it's not even, to me, i'm looking at it and i'm thinking, oh, my god, schwab? it's the seventh largest bank. it's not regional. >> yeah, it's a very large bank. but like other ones, it has a large, significant number of uninsured deposits -- liz: i mean, are you worried about them? >> i don't want to comment on a specific bank in specific. i would say that many of these banks is significantly

challenged -- [inaudible] insure deposits, they pay more for them now that interest rates are much higher. even the larger banks will have to the figure out what to do when depositors realize they can earn 4-5% even on insurance policy when you're getting close to 0 on your to deposit right now. i think the entire banking system, we're deluded that deposits were sticky. now they're 5%, you can earn 5%, where would you put your money? liz: exactly. well, hen what about this? you have said you're not a perma-bear although as long as i've known you, you're calling for some disaster right and left. but this time you say you are looking for signs that the market has bottomed, and you will then go from dr. doom to dr. boom. what sign must you see before you feel hat the market has -- or when you feel the market has hit a bottom? >> well, the worst is ahead of us because the fed and other

central banks are facing a dilemma. interest rates have to rise further because inflation is still well above target. that's going to cause a hard landing of the economy. that's going to cause more financial restraints for banks and savers and investors. and larger and more of a credit crunch makes a more severe version. and then, of course, we are in a situation that is cam thed if you do and damned if to you don't. eventually the fed wins out, yeah, they cannot raise interest rates to avoid the financial crisis, but then inflation expectation -- [inaudible] like '70s. so we're in a situation where until we get something more severe, we're not going to be the at the bottom for a while. liz: okay. i just want to show the fed funds futures, very latest print of the market betting on the

probability of a rate hike. may 3rd, the next meeting, 71.7% now feel that there's a probability of a 5 the basis point hike concern 25 basis point hike. quickly, nouriel, would that mean the fed, if it does do it, will cause a market accident? >> well, with 25 basis points, maybe not, but now it's expected that the fed is going to aggressively cut rates in the second half of the year, and i think that the fed cannot coonly 5 the basis points. inflation is high enough that maybe all the way to fed fund rates of 6%, still hold for a year before capping rates. so the markets are a bit delusional. and that's where an accident can occur. liz: well, thanks. [laughter] we're ready to see you when you become c. boom. nouriel, or thank you so much. we are coming right back. dow is up 29, s&p down 4, the nasdaq down 24 and, yes, jon and mark were waiting in the green

room so that they could watch nouriel roubini, and i hope they weren't that kiss the appointed, even though it's not that great news, he says the crash is still coming. ♪ i have type 2 diabetes, ♪ ♪ but i manage it well. ♪ ♪ it's a little pill with a big story to tell. ♪ ♪ i take once-daily jardiance, ♪

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liz: fox market alert, take a look here just where we began, we've got the dow in the green, but s&p and the nasdaq slightly in the red at the moment. tupperware shares are looking worse for the wear, plunging 49% to just $1.23 after warning that it has substantial doubt about

its ability to the continue. the food storage company says the working with financial advisers to secure additional funding as well as to explore options to sell some of its properties. by the way with, the stock has just endured a lot of bloodshed here, it's dropped more than 92% over -- tupperware! -- over just the last year. don't we all buy that? jack corsi-led -- jack corps the city-led block had its price target slashed to $75, right now it's at $66.5 the, down about 2.66%, rising competition as well as the potential for regulatory scrutiny. the super mario brothers move if had such a superb opening weekend, earning $204.6 million in the u.s. and $377 million globally. the movie, based on the classic video game, is the highest grossing debut of 2023, far

surpassing antman and the wasp which brought in $10 is 6.1 million -- 106.1. voiced by seth row began, chris pratt, mario, luigi and princess peach had the largest 5-day opening for an animated film beating out 2009's transformers: revenge of the fallen. analysts believe this could be the first movie of this year to hit a billion bucks. a great monday session because of it, cinemark moving higher by nearly 7%. the theater chain said saturday it captured the highest single day of attendance since christmas day the of 2019, so before the pandemic. amc popping nearly 8ing , imax up 5. film maker washer brother withs discovery not getting such good news, senator liz warren leading a team of lawmakers requesting that the county of justice the investigate the warner brothers-discovery merger for alleged anti-competitive

practices. post-merger the lawmakers wrote a letter to the doj on friday pointing out that after close of deal, warner brothers-discovery announced numerous layoffs and product cancellations including batgirl, demme mommed and the time traveler's wife. the company has slimmed down as it groans under the weight of billions in debt, and they had to do something, right? stock is not hurting right now,stst the up about 1.33%. rare that we talk about a 5 2- cent stock, but ev-maker canoo has released news it hopes it will move it away from its all-time low of 50 cents, announcingst the entered into a lease agreement for a manufacturing facility in oklahoma city. the ev start-up also announcing plans to sell 34 million shares of common stock. tesla, though, down about a third of a percent. by the way though,s the significantly off the session lows after ceo elon musk tweeted

that the ev maker plans to build a mega-pack battery factory in shanghai to supplement output from california. chinese hamid ya outlet -- media outlet adding that the electric carmaker will break ground in the third quarter of 2023 and begin production in the second quarter of 2024. now, while tesla is boosting its battery manufacturing ability overseas, the biden administration is reportedly looking to inimpose strict new standards on tailpipe emissions that might not only spark more ev sales, but could also spark a fight with automakers who are still heavily into manufacturing gasoline-powered vehicles. to grady trimble live at the white house. grady, what do we think the new rules will look like? >> reporter: well, we don't know, liz, and that's part of the problem. but we do the know that some of the auto merricks are against the rules -- awe to the makers are against the rules because they will have to spend a lot of

money on emissions standards for gas-powered vehicle, and they say that's going to take away some of the money that they could invest in electric vehicles which, as you know, the automakers have been doing heavily. so the new rules could insure that electric vehicles make up more than two-thirds of all new vehicles sold by 20 the 32 the according to "the wall street journal." the journal reports new standards will first apply to model year 20 the 7 the vehicles and gradually increase through model year 20 the 32 the vehicle isings. the white house, again, hasn't confirmed what the rules might be because they're not final yet, but an epa spokesperson says as directed by the president in an executive order, the epa is developing new standards that will seize on this historic progress to accelerate the transition to a zero emissions transportation future protecting people and the planet. but republican lawmakers and some of the president's critics point out the move to evs could be young more to help

china where the vast majority of ev batteries are produced thans the environment. listen. >> most of those key components continue to be made in china, and we shouldn't just be looking at this from the perspective of emissions, but also from from a national security perspective. we should not be sacrificing american energy independence to a regime that is certainly hostile to american interests. >> reporter: and the biden administration has a long way to go to meet its ev goals. right now about 6% of all new vehicles sold, liz, are electric, so the get anywhere close to the 50%, two-thirds, that's a lofty, ambitious goal. liz: yeah. but, hey, the reach should exceed the grasp, they might say. we'll be watching, grady. thank you very, very much. a word of warning for share helders piling into meta shares thinking they'll give your portfolio a slam dunk in the case of a potential nationwide tiktok banker right? everybody said, oh, that'll be

great for meta. bytedance seems to have a contingency plan in play. lesser known app lemon8 has seen close to three-quarters of a million downloads in just the past ten days. up next, top internet analyst mark mahaney on who could be most in peril if bytedance sidesteps a tiktok ban with its sister app, lemon8? closing bell about 23 minutes away. dow is up 14 is points, we are coming right back. ♪ ♪

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and you have a partner that always puts you first way. (no way!) start today at godaddy.com. liz: chinese social media giant and tiktok parent bytedance is now the world's most valuable private tech company. bytedance's profits surged 79% last year to a record $25 billion helping it overtake

chinese tech names tencent and alibaba, but bytedance is facing, of course, big regulatory hurdles with tiktok which, of course, lawmakers in many countries, particularly here in the u.s., are pushing to outright ban. but that's where tiktok's sister app, lemm -- lemon8, comes in. not just in the u.s. so let's goat to kelly o'grady. lemon8, suddenly everybody 's talking about that. >> reporter: i know, it's making me thirsty just thinking about the it, liz. i love the name. but listen, going back to tiktok, over a cousin states already prevent using it on government devices, and montana could be the first state to ban it outright potentially giving momentum to lawmakers who are pushing for a nationwide ban. it's expected to hit the house floor this week, it could spur a

domino effect potentially which has tiktok lobbying intensely. montana's attorney general tells fox business, we know that the chinese communist party is using it to spy on americans. additionally, the app is feeding harmful adult content to children that the encourages illegal and dangerous behavior. we're also seeing a push to curb tiktok usage in schools. florida state university's banning access to the app as well as wechat and tencent while on school devices and wi-fi. you mentioned parent company bytedance's soaring financial performance. of the reported $85 billion in revenue last year, only $15 billion came from outside china, and so with three of the topping six apps in the app store right now coming from china, future growth for bytedance depend on tiktok and lemm hon8, so you have to wonder if the concerns around tiktok would just get transferred to lemon8. liz: yeah. although lemon8 is more like lifestyle and wellness and

beauty and fashion and individual photos. so let's talk more about that. right now there are very few ads on lemon8 which has suddenly seen its u.s. down loads spike by, you ready? 650,000 in just the last week and a half. but there's a good bet brands are already eyeing it as an advertising alternative to instagram and inpinterest. and what will that mean for those social media with giants licking their chops at the thought of a tiktok ban? let's ask the man who says meta still has a secret weapon investors often overlook that might just keep it in the lead. joining me now, ever corp. isi senior managing director and head of internet research, mark mahaney. lemon8, this is lemon and then the number 8, is already apparently huge in japan and thailand. it's overtaking social media elsewhere in asia. what about here and what do we know about it? >> well, we don't know a lot about it. i think some of the statistics you just reeled off would be news to most people, including

myself. it's an app that experimented with, but just modestly. it's just another great personal experience app out there. there are paid influencers on there, maybe that raises, could raise some eyebrows. but it's sort of a lifestyle, i think i saw that it was a connection, an intersection between pinterest and instagram, and it looks to me like it's got some of the same functional i think as those two. whetherring the actually get big enough to dispraise those companies, that's tbd, but it is impressive what tiktok did over the last a 5-7 years. if that kind of ingenuity is behind the asset, it could give pinterest and instagram a run for their money. liz: okay. and when you talk about the giving instagram a run for the money, a lot of people have bet on meta lately. the stock has done incredibly well over the past six months, the past year. thinking, let's pile in here because this ban from tiktok is clearly on its way. i mean, certainly it's off government phones in brussels

and the u.s. and australia, seat name, the big news is they're trying to ban it outright as well. but it's not just a slam dunk automatically for meta shares. you say that meta has a secret weapon, and it's something that investor often don't really look at. >> well, look, i like meta shares here. it's our number one pick for the year. now, it's had a great first part of the year, first three months, but that's because it had a disastrous '22, or in part because of that. what investors have been excited about are all the cost actions the company has aiken. i don't think there's -- taken 'em i don't think there's any question they overhired, overbuilt post-covid and then you get into an his thing ad winter -- an advertising ad winter, you need to do what all households co, you need to tighten your belt. that they've done that. that's gotten investors excited so far, but i think there's more to come. and i think there are three product cycles. i think they're getting better at their ad attribution models,

recapturing that lost 'tissing signal. they've -- advertising signal. they've rolled out this reels, and the latest version we saw -- data showsst the using to more and more usage of -- and finally, there's click to message. that's the secret weapon. yeah, these two wonderfully large messaging assets, whatsapp and facebook messenger, they've been modestly monetized to date. i think that's starting to change, and it's almost 10% of facebook, meta's overall revenue. liz: tiktok came in after gram, and it crushed instagram, it crushed snap when it came to user numbers. who's to say that lemon8 won't do the those click to message ads in a better way, a more admit terry way? and -- glittery way? and a lot of people click on instagram's ads, what if lemon8 comes in?

they've proven that they can slay some of the biggest goliaths just as a david. >> well, liz, you're making a good point, and i think it sort of pounds home the point that in social media there really aren'l monopolist in the space. there may be in other areas, but there's not in social media because if somebody comes up with more engaging content, users will find it. that's exactly what happened with tiktok. i think it's just way too early to make that call. liz: what about pins? we've seen advertisements pop up on pinterest pages. are you as excited about pinterest sock as you have abouf the others in. >> no, no, no. liz, i want to be sort of careful. in the ad concern we're not in an ad version, but we're in an ad winter, for sure. and what happens with the second tier ads, including on tiktok, by the way, is that you see some experimental ad budgets pulled away from them. like you're going to cut tiktok

first, pinterest first and snap first and twitter before you go cut facebook and google. so i just think it's not the right time to consider pinterest. now, we do have a change in management, we're probably going to get better execution. i'm more intrigued by it on the long side, i just think it's too early. liz: mac, it's great to see you -- mark, it's great to see you, thank you so much. ing mark mahaney. we're going to be right back on what to expect are from wednesday's consumer price inflation check. it's going to be a big one, folks, and it could move those fed funds futures. stay tuned, we're coming right back. ♪ ♪ your work is your calling. it drives your days and powers your nights. but if your teeth no longer work as hard as you do, aspen dental is here with smile replacement solutions that work for your life.

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♪. liz: take a look at bitcoin. we got to check this. trading now above $29,000 at this hour. it is at 29,210. adding on to what already has been giving it the crown for the best performing asset in the first quarter. tomorrow on "the claman countdown," a fox business exclusive, investor and crypto invest are anthony pompliano don't miss that. the "countdown" on the consumer price index, cpi, really one of the best indicators at the consumer level. with less than two days away to

the wednesday 8:30 a.m. release, our "countdown closer" says inflation is on a downtrend. inflation could shake up markets, but he has names that could help you find your balance. dan eye fort pitt capital, joining us with his picks to get through the tough times ahead. dan, what are you expecting for cpi? >> hi, liz, thanks for having me. i think expectations are 5.1 to 5.2% for headline cpi. we think that is about right. i think the focus should really be on changes for core cpi which we all know has remained very, very sticky and we don't think we get a ton of relief there until the back half of the year where we start to see the rental component of inflation really start to, start to come down in the official numbers. liz: let's just say that the core cpi year-over-year for march is expected to come in 5.6%, compared to the prior

print of 5.5% which i made this point with mark lopresti already at the top of the show, going in the wrong direction. we want to see inflation come down, okay? that would be the headline number month over month. then the headline year-over-year, 5.2% but give me a sense of where you feel there's opportunity to find balance among what could be sort of a volatile area of trading? >> absolutely. so i would start with the first one being apollo which is, you know, a leading manager of alternative assets. we think, you know the economics associated with managing private alternative assets are attractive. apollo focuses, their main focus is on credit investing, especially, you know, more complex deals, distressed debt so we think they're in a really good spot to see attractive opportunities in the banks do pull back the reins on lending

and -- we think they're well-positioned to play offense if we see dislocations and undervalued assets within the credit sector. and a bit longer term we do see a lot of creditability in management's goal of doubling assets under management by 2026 which would obviously have a significant tailwind to apollo's net income. we think there are a lot of positives out there for apollo but at the same time these are not priced into the company's valuation. this is cheap stock trading eight 1/2 times next year's earnings estimates. it is about a 50% discount to the broad s&p 500. we just think the stock is significantly undervalued at current levels. liz: well, yeah, going back to the whole consumer price inflation number on wednesday we're now looking at way more than a 70% odds that the fed is going to tighten. can you give me in 30 seconds

what you think the market will do ahead of them. will it kind of wait after cpi for that next catalyst? >> yeah. i think the market is probably in wait and see mode for wednesday's cpi data as well as the minutes from the fed's meeting. so i'm sure, you know, we will see a strong market reaction either way after the, after that inflation number. but i think the, the kickoff of earnings season with the big banks, you know, jpmorgan, and citibank will also be very important as well. investors will be you know, tuned into commentary about lending standards and credit conditions as well. liz: it is great to have you, dan. [closing bell rings] i'm thrilled that you're here because we're seeing a feign here for the s&p you have three points while dan was talking. dow is up 94. that will do it for us. ♪. >> welcome to a special edition