modern day you open yas, right? -- utopias, many would love to see all of america gather in these giant cities, so i feel like the idea that people are moving away from these big cities, of course, i do pray they don't bring the zombies with them. this is really scary stuff. in the meantime, the calm before the storm in the stock market is equally eerie, but you've got the right person to carry you through. liz claman, over to you. liz: thank you, charles. that's so kind of you. dystopia, oh, my god, that's a scary word. all right, everybody, to you thought last week was the kickoff of earnings season, then the week the kick returner has a ball, ands the game on. right now we've got a mixed picture. this had all been red, but at the moment the dow has popped up about 28 points, s&p better by about 2, the nasdaq is down 2, russell 2000 up 14. already today. >> schwab, m and t and sate street bank have opened their

books. schwab and m and t, you can see, are having a pretty decent day, schwab's up 2.5%, m&t bank is up 6.8%. both are getting cheers from informs -- investors after the who the beat expectations. state street is down 10.6% due to its 12-cent profit miss. and here comes not just more bank earnings, but quarterly reveals for big tech, telecom and farm hama names. on your -- pharma names. goldman sachs and j&j tomorrow, wednesday tesla. thursday, at&t, american express and rite aid, and friday, procter & gamble. analysts say first quarter earnings for s&p 500 companies probably going to fall 5.2% compared to to last year, and revenues are expected to rise just 1.6% year-over-year. so why the less than thrilling

outlook? well, nine interest rate hikes in a row by the federal reserve have made it more pensionive for companies to borrow money to you. you can see the effect on both the 10-year and 2- year yield. while off the highs of the last year, both are climbing back to march peaks. is a tenth rate hike coming? the market thinks so. this is the very latest number here, fed fund futures indicate an 88.7% odds, yes, the probability of a 25 basis point tightening at the fed's may 3rd meeting because the fed as has made it clear cooling the flames of 40-year-high inflation, you know what? that's the number one priority, and they don't think they're there yet. what about after may though? is there too much investor against on the thought that the fed is going to pause and suddenly that'll be amazing for the markets? while a pause would definitely remove a market headwind, that's not the same thing as a tailwind. so what's the bull case for stocksesome let's get right to the floor show. joining me on this monday, jack

manley and gerard cassidy, head of u.s. bank equity strategy at rbc. jack, we're not just talking about u.s. equities here. it's almost as if the whole world is hinging and placing its betts that the market will have some unbelievable jump as soon as possible, i guess, there's a pause. theyty it's imminent. is it? >> i think it probably is, liz are. but to be very clear when i'm having these fed conversations, i think like a lot of fed watchers over the last year and change it's been a constant source of frustration and, frankly, disappointment. i've got to throw my hands up sometimes and admit i've been wrong a lot of the way up here because i don't fundamentally agree with how the fed's been managing policy. but what i think the fed should do and what i think the fed will do are often times different the things. i don't think the fed needs to go in may. i think we have ample evidence of disinflation in this economy. i think the economy's cooling down. i think this banking crisis that

emerged is indicative of perhaps some problems underneath the surface. but i think the fed's going to go anyway in may. my guess is at that point we cosee that pause. liz: i don't know why you think inflation has cooled down enough. we just got the producer price index, and that was a beat, was it not? we're talking about the core level. so when you exclude food and energy, energy prices, yes, they have definitely come down, but prices overall are still up. so what is the bull case for the market even if the fed expects to pause at the june meeting? >> well, you know, i'd even add to that and say not only have energy prices helped out in the most recent print, i think they're going to start to hurt us when you think about how prices already normalized in the weeks after that banking crisis sort of really felt particularly pain offul. -- pain. what i always hone in on when it comes to inflation, it's that shelter number. it reflects a lag reality. you know, i'm a renter.

when i sign my lease with my building, i'm not signing for one month or two month, i'm signing a year, two years. if you look at realtime rental data, that number's plateau thed. major cities are starting to come down. that's going to the feed through and be reflected in those cpi prints. i think the path from 5% to the a 4 handle, maybe even a high 3, i think that is pretty clear. liz: okay. let's bring gerard into the conversation because we're talking about the fed pause and why maybe investors are putting too much weight on that being the big tail wynn for the markets going forward -- tailwind. your bailiwick is very much financials. do you have any concerns about the fact that schwab's bank deposits tumbled 30%, total assets fell 21% or that the stock of schwab -- and i don't mean to distill this down to one single name, but that schwab hasn't recovered as far as the stock's concerned from the panic of the march bank crisis? >> certainly charles schwab has its challenges in front of them,

and you just reported that the numbers were down quite a bit. but i think stabilization is coming into the depository system particularly with the commercial banks, liz. if you saw on friday when the fed released the h8 data which is the weekly banking industry's deposit and loan data, you'll notice that the small banks which is the real big concern for many investors -- liz: right. >> -- their deposits stabilized with two weeks ago and actually went up week. so i think the contagion concerns of what happened mid march are really being put at bay. now granted, companies are going to report down, you just mentioned schwab, but i think that the worst is behind us. liz: all right. so with the worth behind us, i'll bring it back to jack. what to do you like here? what is the next big opportunity in the markets? >> so i think if you're a short-term investor, in that cyclically story the, a that value story, concern story, i do think it makes a lot of sense.

if you're looking at it from there a sector level, from an index level, financials, energy, there are so many high quality names that can still -- liz: i'm not hearing you say tech. [laughter] >> hey, i'm a long-term tech guy, absolutely. but if you look at what's happened to multiples recently, we've seen an enormous amount of multiple expansion particularly in large cap stocks because of this fed pivot or even pause that we were just talking about. i think if the we're thinking a little bit shorter term, the cyclicality story does still have legs, but if you're a long-term investment, i think think it is all tech. liz: long-term investment. gerard, what happens not when the fed pauses, because that may already be baked into the market, but when the fed pivots. maybe that is the biggest tailwind we could possibly see. >> it's going on to the very interesting, liz, because the banking system, the banks in particular, if we get a pause, hope arefully they'll stay at that elevated level for a extended period of time. and the reason that's important

for the banks is that their deposit rates, the increases in those rates will slow slow down and stop happening. however, the cash flows from the industry securities portfolios are going to be reinvested at higher rates. so a pause with, let's say, a 6-12 month, you know, no change in the termal -- terminal rate for the fed funds would actually be positive for the banks. the other comment if though, if they start cutting rates by the fourth quarter, that may imply the economy is much weaker, and the sooner or we can yet the economy to recover, the better off we'll be from a credit perspective. liz: i want to go straight to to concern this is for both of you -- straight to a big headline in that hit the tape just a couple of hours ago that apple and goldman sachs are going to be offering a high-yield savingsing account, 4.15% annual yield, no fees, no minimum deposit, no minimum

balance, i believe. it feels like if you're simply talking about commerce and business, jack, the banks could be in trouble if it looks like names like apple or, heck, even robinhood has a nice offering for a certain high-yield account. they're muscling in on the banks' businesses. i'm talking about legacy banks. so is there a void -- an avoid perspective when it comes to certain sectors? >> i think if we were having this conversation saw, 20 -- 15, 20 the years down the line, that would be extremely relevant. to me, that's a generational story. they know how to hop around -- liz: old people want yield too, and i feel like the legacy guys have been behind the 8-ball. >> they have been, but deposits keep growing in hose institutions. it's stick sticky when you're talking about cents on the

collar, it's not going to -- dollar, it's not going to make a huge difference at the end of the day. liz: gerard, what do you think of apple muse? >> jack said it very well. if you've got a $500,000 savings account toes state at bank of america in december of 2021, nobody was paying mig for those concern anything for those deposits. by the summer of '22, by the time the fed had already increased rates up to over 2%, that money had already left. however, the grandma and grandpa depositor in buffalo, new york, that money's not moving. it just doesn't make sense -- [audio difficulty] another thing, liz, think about everybody's checking account. when you deposit your biweekly or monthly payroll check, you drop it into a checking account. that's your operational account as a consumer. you pay your mortgage, your rent, your auto. that money's not going to apple

and goldman because they can't handle it. so i'm with jack, the depositors in the banking system are record, near record levels, and even hoe there's competition outside the banks, i don't dismiss it, the banks are very competitive. liz: gerard, jack, great of you in this first couple of minutes of a monday show. the dow building on the earlier gain, now up 57 points. so as apple launches that that high-yield savings account, twitter's ceo elon musk making his own move to muscle in on traditional financial companies' territory. he is taking the first step to bring the x factor -- [laughter] to the his social media network with a new partnership that's enabling crypto and stock trading. we've got the company he's chosen to make it happen. the ceo of e-toro u.s. on what's in it for her trading platform and why banks might want to take note. closing bell, 49 minutes away. we cough green on screen not only percent dow jones

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liz: twitter ceo elon musk marching forward in his quest to turn twitter into a super app. twitter has started to flip on the trading switch to give users option to buy and sell stocks and other assets from social trading platform e-toro. twitter currently has cash tags, it's a feature are where you search for a ticker symbol, you insert first a dollar sign and hen the ticker in front of it allowing you to see price information on the map. now with the partnership, cash tags will be expanded to cover

far more financial instruments, information and asset classes. as elon musk takes one step closer to his goal of morphing his micro-blogging site into what he calls the biggest financial institution in the world, what because it mean for israeli platform e-toro? joining me now the u.s. ceo with. knowing how passionate elon musk has been to turn twitter into a money-making app, this is one of the first partnerships that as far as we know he's really struck to make that happen. how did the deal come about, what because it offer beyond what we've just explained to viewers? >> yeah. i mean, it's a natural one when you think about it, liz are. first of all, pleasure to be with you. liz: thank you. >> on your show, i've been watching for a long time. when you think about e-toro, it's a social platform. in other words, we have a social feed on our platform in which people engage, you know, over 30 million users and 3 million account holders, close to 3 million account holders.

we built our framework thinking that social was a bedrock to investing dialogue in this next generation. most of our customers are millennial or young x-ers, so we're also following where the demographic is, so it felt like a natural conversation to start with what we think is a natural marriage between social media at large and the social media trading platform. liz: okay. so let's just use an example. i'm on twitter, i put in cashtag fox a, the parent of this network. what's going to come up? >> so it shows you, essentially, a chart with pricing and, ultimately, you get what i consider to be sort of preliminary information about that stock. but you're also seeing dialogue on twitter that happens when you do that, and then once you click through the e-toro logo which is right there, then you land on a landing page that has much more data about either that security or digital asset. now, we're very concern because we're a regulated entity, we're very careful to make sure you're landing in the right jumps

diction, the right model. and when you co, you can either keep following that asset class or you can do one of three things. you can establish a practice account so you can actually track it, you can start practicing trading with fake money. we call it virtual money. or you can actually start trading that security, that digital asset. so there's many ways that we think it facilitates engagement. liz: here's what worries me, you know, you talking about a social experience when you're investing. this brings back ideas and thoughts of the reddit chatroom, the wall street bents room, and i thought that -- wall street bets room. and i thought that was fascinating and historian or thetic. it shows when people get together, they can beat the wall street guys. i had no problem with that. but it attracted in many cases unwanted regulatory scrutiny. and then you talk about gameification, and that was part of the aspect robinhood had where, you know, once you made a

trade on robinhood, the confetti would explode. i believe we had some video of what that looked like in the past, and suddenly you had, you know, gary gensler, securities and exchange commission, saying, no, no, no, this is people's money, isn't a game and you can't make it like pavlov's dog, ooh, i saw confetti. i'm going to trade more. what kind of safeguards are put in there? >> you're absolutely correct. that's exactly why we built the social investment platform, because there'sst no avoiding the fact that social is goiny tg people who understood finance and traditional opinions, like i came from a background of morgan stanley, allied bank, all these traditional backgrounds as well, to make sure we were recognizing the innovation that came from this. you know, if we all get scared of innovation, we'll never advance. liz: right, of course. >> but then huh to do you -- how do you -- [inaudible] you go to our website, we make

sure we understand your risk metrics. you have to be public with your id if you want to partake -- >> liz: oh, okay. >> we monitor our social feed for nefarious or offensive activity. we come up with the belt and suspenders to manage it rather than to be eyes closessed, mouth closed and just pretend thing it doesn't exist. liz: i was looking at numbers, e-toro has 32 the million registered users globally, and you've got at twitter 450 million monthly active users many just the first 90 days of 2023 there were 493 million tweets about business and finance. people are eager, they want to soak the stuff the up. -- stuff up. i guess what -- get what's in it for you when you look at the numbers, there are going to be a lot of people being directed to you. what's in it for twitter? >> because essentially, i think, for twitter as we with all know

news and financial news is at the heartbeat of twitter, right? and ultimately, i think all innovation is about like type of services, figuring out sin synergy -- sin iseries for amplification. so this marriage allows an amplification on both sides of the equation. so i think that's what did it for them, because this is a natural place for them to to lean into. liz: well, when you guys expand this partnership, i want to see more about it because elon we know wants that x-factor, he wants that super app to come into existence not just because it would provide so many services, but he needs to make that twitter platform worth what he paid for, $44 billion. i think it's a nice feather in your capita he picked you guys -- cap that he picked you guys. >> thank you so much for having me. liz: today house speaker kevin

mccalifornia think -- mccarthy brought washington's budge battle to the heart of wall street. as u.s. inches closer to risking its first ever default, we're going to take you live to the new york stock exchange to hear what the california republican outlined as the gop's debt ceiling plan and what he wants in exchange for lifting that debt ceiling. closing bell, 38 minutes away. we do see a little bit more strength here. while we've been talking since the last commercial break, we had a new session high of about 70 points. we're up 61 for the dow right now. s&p is up 7 points, the nasdaq up 17. we are coming right back. ♪ ♪ burger and fries... soup and salad. thank you! like your workplace benefits and retirement savings. with voya, considering all your financial choices together... can help you make smarter decisions. for a more confident financial future.

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liz: we have some breaking news. senate minority leader mitch mcconnell just spoke moments ago on the senate floor for the very first time since he was hospitalized with a concussion following a fall at a washington, d.c. hotel last month. senator mcconnell talked about the debt crisis in his remarks. he smiled, as you can see, wearing a yellow tie and a navy blue jacket looking pretty, pretty healthy. so he is welcomed back. now as the senate minority leader took the floor of the senate, speaker of the house kevin mccarthy took to the floor of new york stock exchange just hours ago. mccarthy said republicans will vote in the coming weeks on a bill to raise the debt ceiling for one year. with just seven weeks though left before the u.s. do defaults

on its debt obligations, is there enough time for horse trading between republicans and democrats? to connell mcshane live from the floor of the new york stock exchange. connell, obviously, mccarthy wants and, quite frankly, needs some give from the 'em do accurates. what is his ask here? >> reporter: well, it's pretty big when you think about it because right now there are no negotiations happening, liz, between either side. and, you know, mccarthy, to your point, says he's not going to support raising the debt ceiling unless he does get something in return. it was an interesting speech here in new york today bringing his argument to wall street saying that republicans will pass this bill in the next few weeks. it'll raise the debt ceiling but only for one year, pretty much right in the middle of the election cycle. the commands many in return want federal spending going back to 2022 levels, only 1% increases after that that for a decade. he wants all the unused covid money to be clawed back. he wants americans to work in order to receive federal benefits. and while mccarthy said

defaulting on our debt is not an option, he also said president could bumble into if a default. i pressed him on whether a default by the united states of america is really something that's possible. >> sad part here is the president refuses to negotiate. that's why i believe there's a chance he could bumble his -- >> reporter: so there's a chance it could happen, essentially. >> there is a chance because i sat with this president february 1st and said let's work together. he has for 75 days stayed quiet. >> reporter: chuck schumer has been among the democrats who has responded to mccarthy and that plan. like we said, it would only raise the debt limit for one year. >> amazingly enough, one really knocks my socks off. amazingly, one of the few specifics senator mccarthy has presented is his terrible idea to kick the can down the road for just one year and undergo the same crisis again. why would anyone want to undergo

this crisis again and again and again? >> reporter: well, before we think about a future crisis, i suppose current one has to either be solved or to the point we were just making, delayed at least, and that so-called x candidate when the united states is not meeting -- date, they can't put ap an exact date on it. all the estimates out there, liz, is that it's approaching, probably sometime between july and september. back to you. liz: yep, we know it's coming. connell, thank you very much. we have the fox business alert, we just hit new session highs, fresh ones. dow jones industrials up 60 points, but the session high now that we just saw was with 77 points. the s&p, fresh session high of 9 point points, we're up 7 at the moment. and the nasdaq, fresh session high of 28 points, we are up 21 at the moment. prometheus biosciences is on pyre at this hour, gaining 69.8% at the moment after merck

announced it's going to acquire the biotech company in a deal valued at $10.8 billion or $200 per share. the biotech stock which trades under rxdx right now is trading below that $the 200 a share price, $193.68 at the moment. deal will accelerate merck's presence in immunology by adding a pipeline of experimental drugs for crohn's disease and other autoinimmune can diseases. merck down about a third of a percent. separately, results from the joint experimental cancer vaccine showing that the vaccine, when used in combo with merck's immunotherapy key trued ca -- keytruda, reduced the racr reoccurs by 44%. moderna shares are falling 8% to the bottom of the nasdaq 100 on expectations that any approval

process could be long and complex. end phase energy, up about 7.9, let's call it 8%, top of the s&p 500, hitting the highest level in more than a month. the move comes after piper sandler upgraded the solar power equipment maker from neutral to overweight and set a price target of $255 per share, it's at $225 and change right now, piper sandler expects the international business to grow by, you ready for? 150% this year alone, counsel its previous estimate. -- counsel its previous estimate. we need to look at one. google parent alphabet down nearly 3% at the moment after a report from the from "the new york times" that says samsung is considering changing its default search engine on its products like its phone and its computers from google to microsoft's bing for the new mobile devices. now, while google has a majority share of the search market bigtime, right, microsoft's bin-

has actually seen an uptick since the launch of its a.i. chat bot button. the samsung deal is immaterial estimated to be -- summited to be worth $3 billion in rev knew for google. microsoft shares are up two-thirds of a percent, and we're keeping an eye on alphabet which is down 2.7%. a debt default, goes back to what kevin mccarthy is looking at, that would send the u.s.' mat numb credit rating straight into the dumpster and take the stock market with it most likely. that is an issue israel might be facing right now. moody's ratings agency has downgraded israel's credit outlook on worries about the impact of the government's' controversial judicial reform plans which have sparked many protests. up next israel's former ambassador to the united nations and current israeli lawmaker khanny if -- danny danon on whether the nation's status might be in jeopardy and what needs to happen to protect the

israeli economy. 26 minutes away from the closing bell. dow is still in the green by 62 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.

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get the exact same coverage as the nation's leading carriers and 100% us based customer support. starting at $20. consumer cellular. liz: well, it is not a reassuring sign when credit ratings agency mood key's downgrades your country's credit and economic outlook. moody's has cone exactly that with israel.

it has has lowered israel's outlook to stable from positive citing the country's proposed judicial overhaul of its court system which would limit the power of the supreme court to strike down legislation and give the executive branch greater power over judicial selection. moody a's move appears to have gotten prime minister benjamin net an ya hue's attention. he announced he would hold off on implementing reforms which have caused mass protests. centrist israelis concerned the reforms would harm israel as a strong democracy with checks and balances when it comes ott party in power. moody's says all the turmoil points to weakening of the country's institutions, among hem an incredibly strong and vibrant start-up and tech-focused economy. 54% of its exports are high-tech products and services. joining me now, ambassador danny danon who served as ambassador to the united nations for five years, he is a member of

israel's knesset and, boy, did you serve in the united nations with dis2006. you were the very first israeli to lead a u.n. committee when you were elected, and that had never happened before. because the united nations is so down on israel, and it's such an unfair and unbalanced way. but that said, let us bring to israel and this moody's downgrade, whats the, and that is very worrisome because be israel is known as this center of a motivated and brilliant tech-focused work force. how do you view itsome. >> liz, i'm optimistic today. i think we should pay attention to moody's report, but at the same time, we should look at the indicators of our economy. it's still a very strong, open economy. and i think what will happen now, we're going to have a compromise. we're going to the find a middle ground which actually will strengthen our democrat crass, will -- democracy, will strengthen our economy. so, yes, what we have seen in the last few weeks with

demonstrations, it wasn't good for us. but i think today the prime minister netanyahu understands we have to the find a way to reach a compromise and move on. we have too manieningmies that look at what's happening in israel k if they think they can win. we know when to unite and when to fight together. liz: israel has been so strong when it comes to the outside forces that are trying to attack the it, but this is this is from the inside. this is centrist israelis who were incredibly concerned that benjamin netanyahu is making this move, in a way a power grab of the more control, and hen the party -- the people who supported him mostly, he had the coalition with the very right-wing orthodox jewish people within israel, you know, you are the world -- chairman. that is his party. that is netanyahu's party. what have you been telling him in. >> so it's legitimate to have a debate about the judicial system, checks and balances.

we have to balance the system to make sure that also legislation branch is active, not only the judicial branch. but at the same time the, i think we made mistakes the way we did it. and that's what i told the prime minister. and i'm happy that my position is being accepted now. maybe a little bit too late, but at least now we're going to take it slower, we're going to have a table of discussion with the opposition. and i'm very optimistic that we will have a compromise. liz: there are 90 israeli unicorn companies in technology world. s the unbelievable, more than 90. and, in fact, per capita there are more's reilly companies that have gone -- more israeli companies that have gone public on the nasdaq than any other nation. to me, israel is a miracle. >> and the innovation is sill there, the start-up is still there, and i can tell you money is still coming into israel. people recognize that innovation, the ideas and we'll continue to produce great

start-ups. liz: but a year ago when there was the gaza violence, it hurt israeli businesses. here we are today, we have more violence. but on top of it, you have peaceful protests by israelis when it comes to this judicial reform issue. people are very concerned within israel. people who are coming up with start-ups. and some of them even in "the new york times" said that they almost feel like they need to leave to start up their companies and come to maybe the u.s. or other nations. you've without9 to stop that, don't you? >> i think -- [inaudible] people invest in israel because it's a great investment. and i think it will continue to be that way. and, with by the way, western look at the democracy, the pact that thousands of people went to the streets to demonstrate peacefully. we had arguments. we don't see that in other countries. so that's the nature of israel. we allow free speech like you do here in the u.s. we encourage innovation, is and i think we will become even

stronger when we resolve this a argument. liz: well, i believe that benjamin netanyahu is getting the message. and then you see that the national unity party, his rival, benny ganz, is moving up in the polls, so maybe he takes that as a message. i do need to give you the headline that benjamin netanyahu has said that peace with saudi arabia would definitely calm things in the middle east if that were to happen. this has been something that everybody has hoped for over so many years. how close are you? >> i think it will happen. when i was at the u.n. and we worked on the abraham accords, people told me mission impossible. secretary kerry told me it will never happen. look where we ared today. jordan, egypt, uae, bay rain. bahrain. many in the prime minister's speech, he spoke about the threat coming from -- but at the same time about opportunity to

get closer to the saudis. and i'm sure they're watching us today, and i'm telling them we, the israelis, we're reaching our hand. we want the achieve peace with saudi arabia. it is a win-win situation. liz: when you sat with me in rome at the abraham accords summit just last questions, you said it will happen within a year that the saudis will join abraham accords. do you still stand by that? >> i still say it will ap happen, i'm very optimistic, and we encourage the u.s. to be involved -- more involved in the region. when the u.s. is not involved, you see other forces getting into the game. liz: president trump and jared kushner were very involved, let's hope this current administration hears you. >> we hope so. liz good to see you, thank you very much. ambassador danny danon. we are coming right back, stay tuned. ♪ ♪ i'm so glad we did this. i'm so glad we did this.

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and take advantage of our no interest for 12 months financing. ♪. liz: in doubt bring on clydesdales anheuser-busch up 2% after the company put out a new commercial over the weekend featuring the famed gigantic

horse this comes after a marketing campaign. charlie gasparino is here. >> we don't have to review the marketing campaign of dylan mulvaney. we did a lot on that. wall street from the stock moved away from that to sort of bigger, more existential questions regarding budweiser and its parent company anheuser book and what i'm hearing now from sophisticated traders, this thing is ripe, ripe for an activist play. what do i mean about activist play? someone like dan loeb, nelson peltz, buying shares, management changes demanding changes in corporate policy, demanding something to get the company moving. if you look at long-term chart of anheuser-busch. it is not a pretty site. over the last five years the stock is down 40%. the s&p or the dow or -- liz: up 10% year-to-date just to

be clear on that. >> year-to-date, but look on very longer term, the stock is down pretty significantly compared to the stock market being up very significantly. what you're hearing from these, from people on the street is simply this, the dylan mulvaney thing just underscored a lack of acumen on the part of this management, letting that out there, haphazard way it got out there, something sort of ignored your current base of beer drinkers compared to you know, getting new ones and, it really underscored real problems with the company. now we should point out this is not the only problem with anheuser-busch. they have a whole problem in this sort of selzerred flavored market they're not breaking into. this is company with real issues, real problems and if you talk to people it is really ripe right now for activist play. the mulvaney thing had business impact. i look at something called beer business daily.

there is something called that. these guys get into the guts of the beer business. what they said bud light clearly declined in sales over last week, number of cases sold, they look at it from that granular and total dollars and across various regions of the country. beer business daily said nine regions, they break up the country in terms of how you distribute beer, eight of them had a decline in usage or consumption of bud light. so this is a company with problems aside from this. this is symptom is what you're hearing on wall street and the work activist investor is now popping up more. don't be surprised if you start seeing some activists start accumulating shares and demanding certain things. that is what they do. they demand board seats. they demand a place at the table. demand cost cuts. demand better management. clearly this is a place where that could happen. it is a big company

anheuser-busch owned by inbev as you know. i believe the stock is 113 billion-dollar market cap. not impossible for an activist to go in there. they have done bigger companies, done ge and others. liz, be prepared for this. this is something getting around wall street a lot. back to you. liz: thank you, charlie. this dovetails pretty interestingly with our "countdown closer" because beer and spirit stocks fall under the sin stock moniker, that depending on the investor may scare some potential investors away. these are stocks that belong to sectors like alcohol, tobacco and gambling but our "countdown" closer has a few vice pick he says will lead to heavenly gains in your portfolio. dan ahrens joins us, manages $1.1 billion in asset, advisor share portfolio manager. i looked at sin stocks, most people invest because they want to make money, but there are people that do the dollar vote.

that said which names do you like in the sin stock area? >> i can drop a few names. unlike big beer, like anheuser-busch which we have decreased somewhat, we like international alcohol providers and per pernod ricard, interesting name. absolute vodka, seagram's, kahlua, these are all brands underneath the umbrella of pernod ricard. we think alcohol can be recession resistant versus overall market but alcohol rotates and as charlie was talking about, it has rotated out of big beer somewhat this is another name that we like. another interesting name -- liz: ask you about weed, weed has been the new category in sin stocks over the past couple years. do you have a weed name? it seems like some of these

stocks have really been waiting on all kinds of legislation and government approval when it comes to allowing them to do banking here in the united states? >> yeah, i appreciate you saying that. we of course are big investors in cannabis and can't shy away from the fact it has been down dramatically in the last two years. i mean president biden ran on a campaign saying he was going to decriminalize or have federal reform in cannabis. liz: he worked on that but congress is the one that has to work toward allowing them to bank, do they not? >> you're absolutely correct. we had a democratic controlled senate and senators like chuck schumer and cory booker talking about it but they have not got it done yet. so state by state, area by area, cannabis sales are increasing. it is spreading nationwide. we see a lot of consumer and voter support for it but they haven't got it done.

we still see it coming. it is still coming and coming soon while the stocks have been suffering. one of the best ones is largest position in our fund, advisor shares u.s. pure cannabis etf. msos is the ticker but it is green thumb industries. green thumb does a great job of keeping their head down, executing, operating in very good states, mostly in the midwest, gti. green thumb industries. we think it is the best of the best when we finally get this bounceback and some federal reform that we're told is coming. >> finally in my world, my vice is chocolate. i find it very interesting you have hershey's on your list, not necessarily as a sin stock. hershey's very closely trading to all-time highs. quickly, dan, where do you see more room to grow here? >> it has been a steady, consistent grower. when you say all-time highs, it

has not been one of these high flying stocks. vice, our vice etf is not just about alcohol, tobacco, gaming, about things that consumers enjoy, something that might be again stock market resistant, resession resistant. we think hershey's is an excellent long-term play, has more upside. liz: it is not liz resistant, that is for sure. i will eat it anytime. great to have you, dan ahrens. [closing bell rings] dow, subpoena, nasdaq, look at this ending close to fresh session highs, dow up 90 points. that will do it for us. tomorrow earnings from netflix and j&j? larry: hello folks, welcome to "kudlow," i'm larry kudlow. save america, cut spending curb inflation, slow the debt, open fossil fue