building your portfolio, right? the sort of foundation, if you will, for long-term success. teardown part, i think, is over. last year, uh-uh think, was tough. i'm not sure how this year's going to end, although i'm betting on the upside. with that in mind, pour your foundation, start to put the pieces in place, really zero in on the names you want to own. it's good to be very cautious can. you want the bonds, you want the chips, those are fine. even a little bit of cash. i'm imploring you, be careful because, listen, the tone of these shows have beening negative all year long. they've been negative for the last 18 months maybe, but they've had to be because that's been the nature of the market. but the long-term nature of the market, the greatest money-making machine in history, right, liz? liz: yeah. just ask my of the one -- any of the ones who made a lot of money investing at worst of times, right? although we've started to suddenly see markets reversing and erasing their gains on this

breaking news. we do have the dow still up about 19 points, but according to "the wall street journal"'s nicktism rose -- nick timiraos, just hit the tape with an article saying even though economists at the federal reserve say that in all likelihood a recession will hit the u.s. economy later this year, the fed will still tighten interest rates another quarter of a point in may. now, the minutes from the most recent fed meeting that came out at 2 p.m. eastern, they indicated that some at the fed and on the open market committee where they vote mulled a pause at last meeting due to the regional bank crisis. but by the time the meeting happened, the situation had calmed. now, before the minutes it was as if the markets were trying to decide whether the latest report on consumer inflation checked the good for stocks box or the not sure box. as investors digest the march cpi, dow jones industrials just a minute ago dipped back into negative territory, and if we flip it over to the s&p 500, we do have the s&p now in the red,

down about 4 points. had been down earlier, again, a lot of indecisiveness. the nasdaq, which best articulates the real indecisiveness, has been up, down, all around, and right now it's down around 52 points. the russell 2000 back in the red, had been in the green. at the moment we are not there. the intraday charts we just show you of the nasdaq and the s&p best with reflect the not sure about the march cpi print emotion, but after that initial move, you can see the s&p bulls retreated back below the flatline, dropping as hoe as 4 ks 095 and climbing back to where we are now which is at 4,105. the nasdaq action swinging from a rise at the open to 12,134, then just after 11 a.m. losing all the gains and more, dipping to 11,953. back up and now you can see we're at 11,984. the indecision driven by the fact that headline inflation while slightly cooler than

expected in march is still up 5% year-over-year, and the core cpi while in line with expectations show prices x food and energy are still rising 5.6% year-over-year. bond yield movement showed a bit more conviction. 2-year yield droppedded on optimism inflation slowing enough to the mean the fed is at or near end of its interest rate tightening cycle, down to 3.97%. 10-year yield down 1.1 basis points to the about 3.4%. by the way, this morning for the second time in a row canada's central bank didn't have any problem pausing its cycle even though its economy and job market remain very hot, hoping the federal reserve will follow? well, enter san francisco fed president mary daly. speaking at the salt lake chamber, daly said while the inflation numbers are, quote, good news and that the fed is now at the point where it doesn't really have to hike rates at every meeting, the strength of the u.s. economy and still elevated inflation suggests the fed has more work

to do on rate hikes. no wonder the market went from 60% odds this morning of a quarter-point rate hike at the fed meeting to above 70, now we're at 68.2. but the inflation outlook isn't entirely cloudy. the drop many in egg prices clear as day. month over month price of eggs fell 11%. that's the most in 36 years. they are still more pensionive than a year ago, and -- expensive than a year ago, and none of the big stocks are either up right now or up year-over-year. now, from a sector standpoint, market internals look solid with industrials, materials, real estate, energy leading while consumer discretionary's the only s&p sector lagging. let's get right to the floor show. senior u.s. economist ye lain that -- and trader john corpina are joining us. ye lain that, what do you make of the nick timiraos article in this you also scrutinized the fed minutes, and it just looks

like fed economists inside believe there will be a recession later in this year. >> so, first of all, our call is for another rate hike at the may meeting, so i totally see that coming despite the staff at the fed saying the r-word. the r-word is actually just an acknowledgment of what was already in the forecast in the summer of economic projections. at the last meeting, that they actually are expecting recession. so if we do get solid growth in the first quarter of the year, which it looks like that's what we're getting, gdp will have to contract on average about, like, 0.2%, 0.4% for the remainder of the year to get us to the fed forecast. so it was already in there, they just simply if acknowledged it. liz: well, what do you make of mary daly though saying very specifically most likely there will be no recession? she's not a voting member, but is the right hand not hearing

what the left hand is saying at the fed? >> i think i would call it wishful thinking. i think the path to a soft landing is really narrow. so i think once you hit growth rate of roughly 1%, there is a point of no return. the economy will continue to slow down, and it's the really hard to generate something that will get you to a soft landing. so if you have growth concentrated in services consumption and your jobs are growing in leisure and hospitality sector and health care only, the economy's very vulnerable to exogenous shocks. liz: let's me go down to john corpina. john, it's been an up-down day, and we started to immediately see upon the release are of the minutes some questioning. but when the journal's nick timiraos comes out, you know, he is very much one of those guys with a connection to the fed, shall we say? he's been on the show, but he comes out and says another quarter point hike, which is not a surprise to the markets, but

fed economists do say at the fed we will enter recession. >> liz, you know, the volatility that we've seen in the market is just translate ared in the messages that we get out from the fed. you were talking before left hand, right hand, there is mixed messages that's there. we normally do get those kind of messages, so it's all about us trying to decipher the impact. i think overall high level the news that came out today, it's good. is that going to be good for stocks? it will be. does it have to be good right now? i don't think it's going on the good right now. we've been waiting for two weeks for this day day to come, and this date starts a slew of dates. we've got ppi coming out, we've got retail sales, we start earnings season on friday. this all together is going to put into that package as the fed remains -- claims that they're going to be data-dependent as to what they're going to do for may. so i think this is all setting us up to go down a direction where we know, 25 basis points in may and probably a pause after that.

i'm pivoting from what i said prior, i thought they were going to pause sooner, but it seems like everything that's happening both domestically and geopolitically has added some fuel to their fire to keep this moving for a little bit longer. but we are getting to a point, and we knew we were going to get to this point at some time, where the rate hiking was going to stop. it was a far road down, down that tunnel. it's getting closer and closer, and knowing that we're getting closer, that means that our market is going on the more accepting of it. and we've seen our market little by little trickle higher and higher. two steps forward, one step back. i'll take that based off of what we saw in 2022. liz: yeah, i get it. and when we look at the numbers and you dig down into cpi, the consumer price index, for march, used car prices did fall. we also i saw all kinds of things coming down. gasoline down 4.6%, but come later in april, in the spring, you know that's going to reverse, right? >> absolutely. ing i think gasoline prices for one will reverse based on what

we see in everyday data on gasoline prices. theorizing faster than the seasonal -- they are rising faster than the seasonal factors would imply. and used car prices could actually pick up in consumer prices report in april. you know, you have seen some pick-up in wholesale prices at the wholesale level as dealerships were trying to stock up for tax rebate season. and once we get those tax rebates, it could increase demand for cars and actually increase prices. so the question with about, you know, we think inflation has peaked, but how fast it will go down, that's a big question. liz: john, i want to just bring up the home builders because we start to see the 30-year fixed over the past couple of weeks moving lower. the 30-year fixed rate mortgage. and today a lot of the home builders are in the green. not by a huge amount, but on a day where there's a lot of indecisiveness in trading, you see that or you think about the materials going into some of the

houses that are being built right now. so the average 30-year fixed today, 6.87%. back in mar -- march, 7.13%. what kind of moves, sector moves and rotations are you seeing? anything involving that? whether it's the home builders or not? >> yeah. i mean, look at the price of lumber and the way that that that peaked at its high and now pulled back dramatically from there. we are seeing that. we're seeing the correlation with mortgage rates and the home builders there, right? i think we're a little more comfortable as to the range where rates are going to be, and i think for new purchaser s or even buying a second home or selling and reselling is that we're getting to a point where we're okay with where this is at this point. are we going to get back down to 3%? i don't think that's happening anytime soon, but we're going to stay in this range here. once you start to see that occur there, we're going to see people a little more comfortable spending their money. we've already seen it many travel and leisure, we've seen it in the airlines and the

hotels. you and i have talked about the cruise industry, we've seen that there. where does that translate? does the that translate back into the food and beverage sector? do we start the seeing some of the larger conglomerates, the food chain companies, do we see an uptick there? the longer we're in this range, i think people feel a little bit more comfortable to be able to budget curl the these times -- during these times. liz: while it doesn't look like a huge crop the for the dow, 36 points, the high of the session had been a gain of 210. the nasdaq had been up 102, right now it's down 72. so we do have some swings that are certainly notable. thank you so much. elon musk once again has the tech world atwitter at this hour. not only is musk now hiring former google deep mind researchers, he's also spending big to ramp up his twitter artificial intelligence project. all while simultaneously calling for a 6-pause in a.i. development -- 6-month pause in a.i. development. and speaking of twitter, eight

days remain until users have to bid adieu to their legacy blue check marks. millions you pay to play -- unless you pay to play, that very verification have about -- is about to disappear. joining me next, the guy who alongside steve jobs cofounded the apple app store, the philly shoupmaker is -- shoemaker on what anyone who uses a smartphone or a computer needs to know. closing bell, 49 minutes away. we're looking at the dow down 50 points, the s&p down 13, the nasdaq down 78. we are coming right back. ♪ ♪

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hey, can you be less sister, more car? all right, let's get this over with. switch to xfinity mobile and get the best price for 2 lines of unlimited. just $30 a line per month. i should get paid more for this. you get paid when you win. from xfinity. home of the 10g network. liz: millions of twitter accounts, including mine, with the famed blue check mark are about to lose the ultimate sign-on verification. elon musk says the countdown is on. in eight days, you will either have to pay or walk away from your verified status. the twitter ceo now confirming that on april 20 legacy blue check marks will be erased from accounts that have not paid the $8 monthly blue subscription fee. the original date had been april 1st, he extended it. now he says final date, 4/20.

but with many verified accounts refusing to pay the premium, what is at stake when it comes to decentralized identity online, and how does a.i -- which elon musk is also continuing to develop at twitter role? phillip shoemaker, who worked alongside steve jobs to found the app store, is now the executive director at identity.com, a nonprofit dethe centralized, open source identity verification platform. he joins me now to explain what that is in a fox business exclusive. it's hard enough to wrap my mind around the fact that twitter's charging me and everybody else to insure that imposters don't post in my name, but what are the implications, and what do they mean to all online identification including financial transactions and the like? >> well, i think it's clear that the blue check mark in the past has meant that you've been identified by twitter as the person you claim to be. that's all going away, right? right now all you need to do --

all it is is proof of payment, right? proof that you paid for that blue check mark. me, by the way, i paid for my blue check mark just like everybody else, and it's not a good form of identifying yourself any long or. if you're just paying for it. liz: exactly. and, by the way, there are people who are paying for it and then claiming there's somebody else. this goes to the every web side, concern site, does it not? and where are we heading? you as right there with identity.com trying to help third parties figure out how to offer freely authentication of who they really are. >> that's right. i think where we're headed with this is if it's a pay to play model, then anybody can pretend to be anyone who they want to be and, heck, even bots can pretend to be a human, and we'll still have a bot problem online, and that's one of the big issues we're running into. for me, the right way to do this is you identify every single person that wants to have that blue check mark, you go through

something like a decentralized identity solution like we offer at identity.com. but the goal is you need to prove who you are, that you are who you say you are, and let it be at that. you shouldn't charge money, maybe it's a one-time fee, but that way you can at least use this as a form of identity which right now we just don't have on twitter. liz: and then forms of identity also spill over to the question of artificial intelligence. there are all kinds of deep fake ifs. the most recent one that got worldwide attention -- [laughter] was when the pope shows up in a picture that looked remarkably real wearing a balenciaga puffer jacket. [laughter] this is on the screen. people -- okay, it's funny,st it's a meme, but it looks incredibly real, and this leads to questions about actual verification of people's identity and their selves and everything else. where are we headed here that we have to pay to make sure the world knows that this is us or isn't us?

>> look, this is a huge problem the that's going to affect us all worldwide as time commences, as time continues, because these a.i. chat bots and other things are going to impersonate people and to coa really good job at it it. the pope balenciaga one fool me. i thought that was for sure a real thing, i didn't know about it for a few days, and it just kind of blew my mind that it fooled so many people, myself included. so what we need to do, ultimately, with these images, videos and even audio is to do something called content the authenticity, and you can embed in images and videos and audio a tag called a verifiable credential such as the ones we make that embed some proof within the images. prove that it was taken by a real human, that thats the of a real human, whatever information you want to convey there because bots won't be able to do that, at least not in a, in a regulated way. liz: verifying by embedding the

identity information, is that correct? and, by the way, again, you're a nonprofit. this will be free at some point? >> yes. we are, we're working with companies like adobe that came up with this content authenticity initiative to be able to embed this into, directly into phones. so imagine if in the future your phone, whatever brand you use, you have the ability to turn on a verifiable credential so every video you take and every audio you take can come back to you, people know it's sourced by you. now, this is something you want to be able to opt out of as well, but for those important videos, you want to 'em bid it for the time stamps, the date stamps and a humanity stamp. liz: and chatgpt5 is rumored to have the ability to mimic people's voices simply by ingesting, as we say here in the tv news business, somebody's voice. it could be through a song or just through a speech, and the voice then spits out whatever

you want it to say. it could be outright racist, it could be something horrible that you never said. how do you, how coyou verify a voice -- how do you verify a voice being your own? >> it's a tough problem. again, i think embedding in those audio files the verifiable credential to prove it is the actually you is the right way to do it. but the problem is that not everybody's going to have access to that technology in the beginning, and we're going to be the fooled time and time again that the president said this, the exe-president said that, and it's all lies. this is -- we're at this really interesting point where people are, it's an arms race in the a.i. world, yet we're not thinking about the implications long term, and that's what we need to do. we need to have checks and balances in place to help solve these problems before they become a problem. but cat's out of the bag, it's happening. liz: yeah. it's already a problem. phillip, thank you very much. identity.com. and right now he's a third party integrator with other businesses, but please come

back. we'll be following this because there will be so many more fakes and all kinds of problems. thank you so much. >> thank you. liz: airline stocks are hitting turbulence at this hour. the warning that has the whole sector kind of grounded. that's ahead in pop stocks. plus, you're not going to want to hear this. the new tax proposal that could cause many to think twice about cutting the cord. closing bell, 37 minutes away. dow jones industrials close to session lows, down about 51 points. the s&p down 16. that is a fresh session low. we've got the nasdaq the down 89. we are coming right back. ♪ ♪

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liz: fox market alert, fresh low right now on the nasdaq, down 104. down 104. when we started at the top of the hour, the low had been a has of 78, and the nasdaq, as you see, began turning back to the downside just before the top of the hour after that "wall street journal" article coming out by nick timiraos who very, very closely covers the federal reserve saying the fed is going to hike rates even though its own economists predict a recession is likely by the end of this year. let's get to some individual stock stories. we've got shares of american airlines descending right now by nearly 10% to $12 the.93. hitting a 3-month low, actually, after the area -- carrier

forecasted weaker than expected first quarter profit. inflation not really going away. american's rival, united, had already given a similar outlook last month. it too is falling about 7.25% and, quite frankly, the entire outlook is giving a gloomy picture for the airline stocks. delta down 3%, jetblue down 4%. paypal shares had been higher, but they have pretty much preponderance lost their gains here -- pretty much lost their gains here. right now slightly lower to $73.51 after earlier in the session announcing that it has extended its partnership with the nba's phoenix suns through the 2026 season. paypal will continue to appear on the team jerseys as its official sponsor and payments partner. with a new focus though on supporting small businesses in the phoenix area. you know what? the new jersey devils already to do that, okay? meanwhile, rising political tensions, geopolitically, rather, between the u.s. and china are weighing on

chinese-american depository receipts, stocks traded here in the u.s. alibaba, jd.com and pin duo due woe, jd down 7.5%. alibaba down 6%. sentiment between the world's two biggest economies reaching an all-time low contributing to a high level of uncertainty among investors who are interested in chinese companies but say, you know what? hands off til this thing gets figured out. shares of the e-sports gaming company that named gamer with green hair as their chief innovation officer are leveling up 3.8% at this hour. so yesterday game square back by cowboys' jerry jones officially began trading on the nasdaq under the ticker symbol game after a completed merger with engine gaming, and the media gaming conglomerate which it is now plans to innovate not just with gaming, but as gamesquare's

sigh owe -- cio tyler ninja believe vines, they hope to conquer many things, including merchandise. >> i have a patent for a hoodie concept that could be pretty much anybody that uses headphones, and that's just like one small thing. but, i mean, i think at the end of the day when it comes to anything that we're going to be to be doing, if you create incredible content and if you create incredible things, you know, it just travels, spreads by word of mouth, right? it gets the job done in itself. so i think that's our goal, just to make sure that we're creating incredibly authentic and amazing content. liz: everyone from ninja to warner brothers discovery's david zaslav knows that content is king. that's been out there, right? content is king? zaslav unveiling his plan today to combine hbo max and discovery+ into one single service call max. that's not the only headline about to disrupt streaming

stocks. up next, is streaming about not to be taxed -- is about to be taxed, rather. plus, how streaming fatigue and the latest blockbusters are bringing americans back to the theaters, and investors are piling into theater stocks. the ceo of the country's fourth largest theater chain joins me next. and are you one of those people that needs to put you know glasses to watch either the tv or the movie screen? i've got a brand new everyone talks to liz podcast episode we need you to hear. this week's guest created an app that's expected to help millions who are enduring dimming eyesight. did you know that 250 million people globally are visually impaired? and, of course, millions of aging baby boomers in this country are struggling to read directions on a medicine bottle. the ceo of be my eyes, mike buckley, is on the case creating a revolution pollution a their a.i.-powered app. the entrepreneur is on the cusp of a global game-changer for vision. you can hear out now.

his app and how the world is going to be seeing more clearly. just download my everyone talks to liz podcast wherever you get your podcasts. closing bell, 27 minutes away. i'm looking at the dow, down about 57 points. we are coming right back. ♪ ♪ you can't buy great conversations, 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. and that's where our strategic investing approach can help. t. rowe price, invest with confidence. if lawn care were easy, everyone would do it... as well as trugreen does it.

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i'll always take care of you. ♪ i'm gonna hold you forever... ♪ ♪ ♪ ♪ be by your side... ♪ ♪ i'll be there... ♪ ♪ choosing miracle-ear was a great decision. like when i decided to host family movie nights. miracle-ear made it easy. i just booked an appointment and a certified hearing care professional evaluated my hearing loss and helped me find the right device calibrated to my unique hearing needs. now i enjoy every moment. the quiet ones and the loud ones. make a sound decision. call 1-800 miracle now, and book your free hearing evaluation. and i remember kind of thinking like, "oh my gosh, i think we could be sisters." because i think we looked... yes. right. yeah. and i don't think at that time-

i think you're the one to tell me that we had the same birthday. yes. it's really unbelievable when you think about it, because it's been, like, really over 20 years that you were my mother and father's banker, you became my banker and now fran is in her third year of college and you're her banker. it's so unbelievable because i'm just 20 years old. [laughing] liz: warner brothers discovery ceo david zaslav just unveil a new streaming service combining health care bo max's concern hbo max's scripted entertainment with discovery's reality and unscripted shows. the service is called max. here are the prices, starts at $9.99 for max ad light. okay, that means it has ads. just for comparison, netflix's ad-supported tier is $6.99 a month, and max's ad-free tier

will cost $15.99 a month. the news is not helping the stock. right now you can see that year to candidate the stock has cone -- to date, the stock is up 48, but since the merger became official in april of last year, warner brother brothers discovery is still down about 42%, and today the stock is down 6% and, in fact, it just hit session lows a few minutes ago. it is dropping. and so, hmm, max. we'll see if max can pull in more than the minimum. and there's this streaming headline: now new yorkest could soon pay the price for cutting the cord. law maersk in the empire state are proposing a sales tax on digital media subscriptions? let's get to lydia hu joining us live. taxed by how much and for what? [laughter] >> reporter: there, liz. they're talking about an 8% in total tax here in new york, and that tax would not just apply to

digital streaming, but also to music is and audio books, podcasts, games, anything that is, quote, electronically or digitally delivered, streamed or accessed. and, liz, new york is not alone. take a look at this, according to the tax foundation, 26 other states tax streaming services and downloads with a sales tax, and you can see the states ranging from new york to concern i'm sorry, new jersey to texas, mississippi to colorado, all imposing a sales tax already. new york is considering it at the moment. a few other states target streaming specifically with an excise tax, so as you can see here, connecticut, delaware and florida treating streaming more like cigarettes, tobacco and alcohol. and another three, idaho, kansas and wyoming with, tax the audio downloads but not streaming. watch this. >> streaming taxes are paid by consumers. they may be charged to the streaming provider, but ultimately they're borne by those who are subscribing to

these services. this is something we're to going to see more and more whether it's digital advertising tax, social media taxes, various tech taxes. these are going to compound. >> reporter: is so why are we seeing more and more of this? well, people are cutting the cable cord which deprives states of tax revenue because cable services historically are subject to state sales tax and other piece, so local governments are actively looking to recapture that revenues. that brings us to taxing the streaming is services. and here in new york, applying a tax on streaming and downloads will reportedly raise more than $100 million for the public met to propoll tan transit system. liz, that largely is the subway system concentrated in and around new york city, and that's also why some people are unhappy about this because it's a proposed tax on everyone in the state on their streaming services to fund the transit system serving largely new york city. liz: you know, if it moves, they're going to try and tax it. >> reporter: yeah.

[laughter] liz: it's the unbelievable. lydia, i don't want to say thank you because i'm not happy about it, but thank you very much. [laughter] there is an overwhelming narrative that streaming has killed the movie theater business, but lately we've seen signs of the opposite. the super mario brothers movie may have been the power-up the theaters needed. since the movie was released last wednesday, cinemark is up nearly 14%. amc theaters up 33%. imax just hit a 52-week high today, it is already seeing a gain of 8.8% year to date, and here you see it at the moment just at about $21. lesser known movie theater stock marcus corporation is also on the move, up about 10% over just the last week. are these gains just a one-off boost if from a popular family movie, or are they the precursor of what's really to come, and that is a summer movie season where the world is really back to normal? joining me now in a fox business exclusive, greg marcus, the ceo

of the marcus corporation which, by the way, is the fourth largest movie theater company in the u.s. greg, it is wonderful to have you. is it super mario? what is it? >> well, i can't complain about super mario. you know, it's a lot of things. st the avatar, it's super mario, it's top gun last summer.. -- i think, look, people have to hear things enough times to know that it actually is happening. and the movie business is an important part of the ecosystem of film entertainment. that's really the key. that's what we're seeing now. and i have to i saw i like the tenor of the way things are going because we're starting to have people realize and say, you know what? movie theaters matter. liz: i know you all have been waiting to exhale. very happy that streaming has not done what it was expected to do, and that is kill the movie theater business. you've got more than a thousand

screens, as i understand it, in 17 different states, mostly in the midwest. tell me about your core client, what are you offering to get them back into the theaters at a better clip? >> you know what? our core client really -- [inaudible] that's who our client is at any given time. i like to offer them a 2-hour vacation. it's a chance to get away, a chance to be with other humans. that's what gave me and i think our industry comfort when we were sitting there in the middle of the pandemic and saying, oh, man, what's going on? i kept telling people, look, we are social creatures. we want to be together. we don't just want to sit on our couch and watch tv. because that's what streaming is. look, tv's very popular -- [laughter] it's a great thing, i don't want to argue existence tv. but -- against tv. but you can't compare it to going out and being in a theater with other people looking at, you know, at a minimum a 30-40 foot screen up to a 70, 80-foot

screen with recliners and great food and popcorn. it's about a making relationships, you know, that's -- i was talking to the apple gang, and i said why are you making movies? they said, well, they want people to love their devices more. i said there's actually nothing better than the movie theater to create that. if you're sitting at home, it's a relatively passive experience -- the. liz: it's definitely an absolute escape. i'm an l.a. kid. i grew up with the movie business surrounding me, and there's just nothing like it. we've got some summer movies coming out. which ones do you predict will really craw those crowds back in? i know we've got fast x, the flash, indiana jones, mission impossible, everybody's talking about the guardians of the galaxy, that should be a big one. >> yeah. you named all my favorites. [laughter] everything i'm looking forward to. yeah, no, they're all -- these, we've got a great summer slate9. but what's important, i'll tell you what's important and i do think people are seeing it, it's

not just the big movies. we have to have big movies which we've got a lot of, but we need medium-sized movies and smaller movies to build out the whole ecosystem as we like to talk about it. movie going, as i'm sure you know, it's habit forming. you go, you see a trailer, you say, oh, i want to see that next one. but when we have these big pauses, you get out of the habit, and you don't see the trailers, and you don't say i i want to go to the next one. we need all those movies to fill out a full slate, and that's what propels our business. liz: well, the marcus corp. stock is up about 24.25% year candidate, so you are participating in this nice move here. let's hope it continues for the movie-going audience and for the movie merricks. thank you, greg. >> thank you, liz. i appreciate the time. liz: greg marcus. coming back, the latest on crypto exchange ftx. charlie breaking it next. ♪ ♪

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i screwed up. -mhm. i got us t-mobile home internet. ah! now cell phone users have priority over us. and your marriage survived that? you can almost feel the drag when people walk by with their phones. oh i can't hear you... you're froze-- ladies, please! you put it on airplane mode when you pass our house. i was trying to work. we're workin' it too. yeah! work it girl! -woo! i want to hear you say it out loud. well, i could switch us to xfinity. those smiles. that's why i do what i do. that and the paycheck.

♪. liz: as disgraced ftx founder sam bankman-fried awaits his october trial on securities fraud, money laundering among other charges bankruptcy lawyers have been very hard at work actually recovering stolen customer assets. today and fix fix lawyer

announced the company has recovered a total of $7.3 billion in cash and crypto assets. that is an increase of more than 800 million suns january up, they also dropped a surprise bombshell about plans for the company's future. charlie, what did they say? >> i want before we get into the bombshell, explain this money business a little bit. i have sources inside of the credittores committee some of these crypto is hard to value. some of the asset they have are in venture capital deals and things like that. very hard to value. so while the headline number says 7.2 billion, getting that in cash, back to people is whole another story. the other half it will take two years. people think they're getting money back tomorrow, they're not. this is drawn-out process. i'm getting this first-hand from people in the room so you know. it is hurting a lot of people. people lost millions on this. kevin o'leary on our air a lot,

he lost something like 10, $15 million. he is not alone. let's get back to that surprise announcement. they have been hinting at this in a long time. ftx could reopen, in a new form under a new company run by the bankruptcy trustee and new owners. liz: who will want to put their money there? >> here is the thing, i think if there is any exchange that has a lot of eyeballs on it, obviously these guys. i'm sure they're wickedly compliant with sec rules or will be very shortly but they are planning to open up. we should point out this is a company, it is a company in bankruptcy. it is in organization. they have a product, a technology that actually worked. that doesn't mean sam bankman-fried was bad. when you think about it the ftx exchange was pretty good, right? what he ran into trouble gambling on the other side with other stuff. liz: with depositors money?

>> taking depositor's money, buying real estate, to do other deals and using it to fund the hedge fund, the alameda, with crypto, gambling that, piggybank for the side projects that caused, essentially a ponzi scheme imploding, according to prosecutors. mr. sam bankman-fried looking at 30 years in jail. this is a business there. if you trade crypto you can do stuff. i will point one thing out to give you a point. i covered madoff intensely. the kids, madoff's sons owned essentially a broker dealer exchange that market-maker. then there was bernie who ran the fund which was a ponzi scheme. they tried to keep the broker-dealer open for a while but the name madoff was so tainted they couldn't. liz: yeah.

>> we don't have to get into all the tragic details of this family. one died of suicide, the other kid died of cancer. it is a tragic story. the kids were never implicated. they looked but they never got them. the business was tainted. that is one of the obstacles here. liz: what do you make of the fact bitcoin has run up so much since november? it is slightly below $30,000. so some of the coins that were missing at the time were worthless, now they have been found and worth more. how do you do that? >> the other coins were worth more? liz: back in november they were much less. >> what you see now, bitcoin, bitcoin,ether. if you're in crime owe and ftt, the native kind for proceeded

freed, is out there, dogecoin, worth nothing. they have all been smoked or dusted in the crypto winter. if you're going into this you will go to more stable ones. obviously ether and you have to get a crypto expert not me, do the coins have longevity? is anybody using their platforms? when was the last time you bought a slice of pizza on the etherium mat form? i'm serious. tell them to stop wraping me. you asked me the question. >> oh, my god. get the sippy cup for him, as austin. the closing bell four minutes away. get him off the set of. s&p down 19. the nasdaq down 108. one year ago tomorrow, jpmorgan ceo jamie dimon had said there was an economic hurricane on the

horizon. then last week on cnn he forecast more economic storm clouds are on the way but our countdown closer has the stock recipe that will shelter investor portfolios from whatever storm jamie and company see. joining me strategic wealth partners, coo, vp, tony how do you pick stocks that you say will sort of be this raincoat? >> our mentality right now is defenses championships. my tip for investors, do your homework, create a list of stocks, high quality stocks that they have strong balance sheets and strong cash flow and size your exposure appropriately. i think if you follow these steps you're going to be able to get yourself into something where you're not going to get you know, pummeled next time the market goes down. >> on our screen, perrigo, s&p

global, those are two names you really like. they both have certainly a dividend yield. 2.79% for perrigo, s&p global strong cash flow growth. again other issues, kash flow crucial. these two in particular. request? >> so perrigo, i think they're a good recessionary stock because they have spent the last four years selling off their non-core assets. today they're completely focused on consumer health care, aspirins, cold, flu, and skin and their brand is split between branded and private label. if we divide private label, they're beneficiary of the trade down effect. the trend is playing out the last few quarters. we like the stock you mentioned, i have down in my notes, generates free cash flow, solid 3% dividend. it is very attractive on

valuation front because they're forecasting great sales going forward. liz: give me an overview, 20 seconds what is the fed going to do, what should they do? >> they're in a tough spot. they're trying to slow down inflation. i think they're going to hike but you can see the cpi and fed financeds rates are starting to become more level. i expect one, maybe two more hikes. at the end of the day they don't care anything except controlling inflation at this point. liz: i think you're right. tony, great to have you. [closing bell rings] dow, nasdaq, lose all the gains they saw during the session with the dow down 49 points, s&p down 1, nasdaq down 103. that will do it for us. "kudlow" is next. ♪. larry: hello, folks, welcome to "kudlow." i'm larry kudlow. a recent article published in "the new york sun entitled, nightmare scenario