and temporary setbacks, and what separates the two, you've got to go many there and do your homework. you want to be calm, you want to be smart, you want to put your emotions to the side. dig in there, do the work. one thing you're going to see over and over again, these knee-jerk moves, stocks that go down on great earning, ask you just throw in the towel. staying the course is very, very critical, and it's going on the critical next week because i think between the fomc, the next round of earnings, on the cusp of a major breakout, you want to be a part of this this market. at the very least, pay attention. so go, have a great weekend, but before you do any of that, stay where you are because liz claman's coming up. this last hour of trading, this week it's always consequential, but i think it's going to be another barn burner. liz: indeed. and for three days straight it has swirled around first republic, charles. we start with this breaking news, wall street and the banking world are watching first republic very closely as we kick off the final hour of trade for

the week. it has been an absolutely brutal session for the california regional bank. shares of frc have been halted 24 times today alone and have plumed a new record low of $2.98. right now we've got it at $3.79, but the breaking news as we are waiting on any kind of headline out of this is that the u.s. government officials are leading urgent talks to rescue first republic. the company is likely heading toward fdic receivership. now, many case you don't know -- in case you don't know, a court appoints an independent receiver or trustee to manage all as pecks of a troubled company's business. it's not bankruptcy. the goal is to return a company to profitability, but a that may be much easier said than done as the walls close in on the california bank which at one point was the 16th large bank in the nation. the brain drain is now picking up steam. royal bank of canada is confirming at this hour it has hired four of first republic's

advisers today today alone. the web site financial planning is also reporting that top brokers began jumping ship two weeks ago heading not just to rbc, but to morgan stanley and jpmorgan as the bank looked more and more unstable. let's go live to edward lawrence. he's at the white house and has been following every single bit of news that's hitting the tape or at least what you're hearing about this possible rescue. edward. >> reporter: yeah. and government sources are telling me here about first republic bank, that they've had meetings, a series of ongoing meetings this week especially to try and stabilize deposits with that bank. and that is where they are right now, trying to hold off going into that receivership as some experts say might happen here. now, working there in a series of meetings, this comes after two reports came out today about the banks that did fail, silicon valley are bank and signature bank. the federal reserve on the silicon valley bank taking a step this in identifying itself as a possible problem involved

in the bank there. but both of those banks were basically told that management mismanaged the funds there and that directly led to those banks failing. again, the federal reserve, the first line of the letter in the federal reserve part about the silicon valley bank said from michael barr said silicon valley bank was mismanaged, and that directly led to the female your there. four takeaways. the second, regulators failed to realize the extent of the issues at the bank. at the time it failed, the bank had 31 warnings. it was also downgraded based on the fact that management let risk to unrazedded losed pile -- losses piled up. the third, they failed to move fast enough to make changes. a senior fed official tells me the social media played a big part in the speed of the failure. 85% of svb's deposits went out the door in about 24 hours. because of that, the official tells me thatly bid equiedty

requirements -- liquidity requirements will change. for signature bank the fdic regulates it and it lists contagion as a primary cause of failure with deposits leaving in droves. however, the report adds the root cause of the failure was poor management. now, the report says the bank went after rapid growth without putting in place risk management practices or controls. the bank too heavily relied on uninsured deposits. the report said that staff thing issues also and changes with vacancies at the fdic slowed the identification of this this risk. market experts shocked at the self--- e flexion if here. >> it's a tough piece of medicine to take because the bankers fell asleep at the switch, the regulators did. and i'll i'll put system blame on the fed. the fed, you know, kept interest rates at zero way too long and then had to raise them so fast, and that caused too many people to be flat-footed. >> reporter: and both the

federal reserve and fdic believe they can make the rule changes themselves without going to congress. back to you. liz: well, i'll tell you something, edward, when we're looking at the frc situation, the first republic, can you just give us the very latest of what you're hearing once again? you said that they are working to stabilize deposits but no rescue yet? >> reporter: yeah, no rescue that we're hearing about. in fact, remember, this is the bank that the industry tried to rescue by putting billions of dollars in deposits into that bank. we're hearing there have been a series of meetings this week especially to try and stabilize hose deposits, and that's what they're working on with large depositors to reassure them that that bank is going to be okay. but, again, no specific word on any if bailouts for the bank. they're talking about trying to watch the situation, have the meetings just in case and see if that, those deposits stabilize. liz: yeah. well, the market cap is not stabilizing. yesterday it was a billion, right now it's $699 3 million --

>> reporter: and one interesting point, social media plays a part in this. they have seen the rapid loss of deposits, signature bank, silicon valley bank, first republic bank is also seeing that, and that's part of the contagion that the fed is worried about, is that the speed of technology is speeding up these bank failures. liz: we are going to be watching very closely. and, by the way, as we watch first republic's stock with one eye, we've got our other eye on the markets. the bulls still have some lift in their step right now dow jones industrials up 195 points. we've got the nasdaq better by 58, s&p 500 up 25, the russell 2000 up 16 points. we gotta say the surprise catalyst du jour, chipmaker intel. shares of the chipmaker are topping the dow jones industrials, up 4%. by the way, it's one of the top five s&p leaders as well.

in the final hour after the bell yesterday, they reported a loss of 4 cents a quarter, the largest profit loss in company history. just a year ago intel had an 87-cent gain. now, intel did beat on revenue, and here is what has the stock maybe just bouncing up here, they promised that margins will recover in the second half. that apparently is you have enough to rescue the stock today. and whiles the up, as we said, about 4% right now, shares have recoiled 36% year-over-year. amazon report surging growth ask beat profit expectations, but it's getting no respect are from investors. shares right now down 3.5%. the tech giant said that the problem was on the investor call its highly profitable cloud business, aws, amazon web services, is seeing revenue growth in the current quarter fall to 11% versus the 15 plus percent increase it logged in the first quarter. now, the tech whale also warned that the slowdown in cloud computing growth could persist,

that so that's why you see a flight away from the stock. and yet the markets overall are looking up and and is already looking toward apple earnings next week. let's bring in the floor show to tackle that and all the breaking news including first republic. jpmorgan asset management global market strategist david remember slip and daniel newman, which is the largest independent research firm for tech analysis. let me start with you, daniel. what do you make of the move here? i mean, it really actually started with meta's banger earnings earlier this week, and it almost seems like the tech trade is back, but does the that continue through? >> yeah, we've seen tech move up really quickly, and tech is the underpinnings of everything that's going to take us out of these current economic challenges that we have. you look 59 the move towards a. i'm sorry, genrive a.i., these are going to be the deflationary capabilities that that companies are going to be able to reduce staff. dropbox pointed today to a.i. as the inflection of how they're going to be able to move forward. i talked to bill mcdermott

this week of after service now which had really strong earn, and he was looking over the next 10 years that almost 20% of the fortune 1,000 companies think their business model are not survive. it's going to need technology to ache them forward. long term with a.i., the tech sector is very strong. liz: well, yeah, but what does it say, this movement in intel's stock, what does it say about the investor psychology that they're so eager to look forward, they're pumping up stock after its worst profit loss ever? >> yeah. i think they -- you know, they did a big reset here. and i actually talked to pat geldinger yesterday. he was optimistic about fact that the company is going to be able to turn the corner. look, they've had six, seven straight quarters of selling pressure. even's getting out, and they still have huge market shares in data center compute, they still have large market shares in the client for the pc space. they're innovating, they're implementing, and they are the u.s. winner for the chips act, and it will show over time.

they will be the leading edge manufacturer here in the u.s. liz: daniel is not name dropping, he's known as the ceo whisperer -- [laughter] david, give us the macro picture, and does it surprise you that the market is holding pretty strong even as first republic appears to be in deep trouble? >> so the interesting thing about the market today is that i i think investors have stopped focusing on financials and started focusing on tech, right? because it's a much more positive story, to your point, than one we've heard in a while. i also think it's important to talk a step back and think about the broader direction of travel for the economy going forward, or you know? with we talk a lot about how the fed usually hikes until something breaks, and clearly something has broken here with the regional banks. that does suggest that slower growth, potentially a recession are very much on the horizon. and as we've seen time and time again over the past couple of years, in environments of slower growth or a contraction many gdp -- in gdp, investors tend

the flock to the tech stocks for the better part of the past 15 years. liz: to that point, folks, everyone was so worried that the earnings season would be absolutely horrific. meantime, 74% of the s&p 500 companies that have reported have beaten on earnings and manager like 64% of the companies have beaten on revenue estimates, and those are both above the long run averages. >> exactly. the first thing i would say about that, and we were talking about this before we came on, is when you put the bar on the floor, it becomes pretty easy to step over it. we had seen a pretty steady reduction in estimates over the first part of this this year, but the thing i've really latched on to and you alluded to it in some of your opening remarks, is what's been going on in the margins. in the fourth quarter of 2022, we had operating margins, you're seeing that resiliency which is really coming from two things, expense management, and we've seen that story on the tech side, but it's coming from pricing power when we look at the staples and some of the

consumer brands who have said over the past few weeks, look, we raised prices, and it didn't really seem to impact -- liz: mcdonald's is a good example of that. okay, daniel, let's spin it forward. again, a little bit of rearview first. snap is getting senatorred here. we've got pinterest in trouble too because of earnings problems at the moment. but then you look forward to apple. does apple's earnings report, does everything on tech -- in tech hinge on that next week? >> i don't think so after seeing google, microsoft, meta all outperform, but apple is obviously a bellwether. you know the mac sales are going to be soft, terrible pc numbers came in, but we know what's going on with the short, there's no more shortages, but is there demand? this is what we're going to have to really wonder coming out of this this, is there going to be the demand. i like the pivot apple's making to services. if it can show that directionally, that would really help. they need to also talk about a.i. they've not talked much about

it. apple is usually a bit of a follower, they actually tend to come late with the newest innovations. what are they going to say about a.i.? because everyone else has made a declarative statement -- liz: well, so did everybody about meta verse is. i'm telling you, these fads are unbelievable. we do have the dow jones industrials up more than 200 points, 222 the at the moment. add to that the 500 plus point gain yesterday, and that is a major two-day, significant rally. all right, investor not letting this week go to waste when it comes to stericycle. this is the company that takes out the trash for offices and hospitals worldwide, sterilizes it and then, of course, aches care of it. -- takes care of it. the is ceo is joining us next to give us her outlook for back to the office and back to the operating table trends, that is next. closing bell, 47 minuteses away. "the claman countdown" is coming right back. we're watching the nasdaq. it's the up 62, but first

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liz: okay, dow jones industrials still up about 232 the points

now. who knew taking out the tras uld be so profitable? stericycle, the waste company known for its disposal of all things medical, used syringes, hazardous lab chemicals, dental waste, just beat on both the top and bottom line. first quarter numbers driven not just by servicing hospitals, physicians' offices and retail pharmacies, but airport and office building paper waste collection business. the stock is actually down and down about 8% year to date, but web site simply wall street says considering the service is a staple for the waste industry, shares are 40% undervalued here. let's find out more. in a fox business exclusive, stericycle ceo cindy miller joins us live. cindy, why doesn't the street see the intrinsic value of this company? >> you know, i think, i think the street does a pretty good job. i think as everything has, you know, its ups and its downs and

its moments, let's be honest, there have been some difficult times for everybody in this most recent economy. 2022, i think the way '22 started off certainly put everybody more on the deespecially ifive -- defensive, including us. but i like where we are right now. i like how we're poxed. i like some -- positioned. i like some of the trends we're seeing certainly in the health care industry, and i think we're positioned to do some terrific things. so it's all good, and it's full steam ahead on our side. liz: well, it looks like it. not only did you beat earnings estimates, but your number at is 11 cents -- sorry, your profits came in 11 cents better than the year-ago quarter. that, to me, is an indication that you've got some real action here. what do you attribute the biggest bump-up here to? >> yeah, i think for us, you know, that's really a great question, liz. i think for us getting through some of difficulties, starting off very difficultly in q1 of

'22, a record inflation, at least inflation that we hadn't seen in the last 40 years, energy was up, gas was up, staffing shortages, just supply chain issues, an awful lot of things that afforded us an opportunity to take stock in terms of what do we need to buckle down on and make improvements as we move through the year to position us for what we think is, you know, a good, steady opportunity of recovery and for us to be the well positioned in order to the take advantage of that the. so let's just say last year we start off a little bit more on the defense. this year i feel very confident that the team is focused on delivering plan that we've put forward. liz: well, listen, you have more demand now. we've got more action in the hospitals. is that much of it now the elective the surgeries that people put off during the lockdowns and then the post-covid era? >> absolutely. that is spot on, liz. i think there was a combination of things. nobody knew what to do in the initial aspects of the pandemic.

then there is a little bit of relief, but what i don't think we or anybody had expected is last year i think the world was ready to really open up, especially the health care industry, but staffing just didn't follow. and it's one thing to have the doors open, but if you don't have the staffing either in the hospital or even, quite frankly, at our company, you can't really provide the services that your community or that the patients expecting. so the positive news that we're seeing in the industry, i think hospitals are reporting as they were coming out of q4 into this quarter that admissions are up, visit ises are up -- visits are up, e.r. visits are up but more importantly staffing is starting to improve. and anytime you start to bring that highly -- that's a very skilled, ec call position throughout -- technical position throughout the hospitals. anytime you hear them saying they've got staffing, that means the backlog in elective surgeries is waiting there for folks who really have suffered.

i think, you know waiting on a new knee or a new hip, you know, i think their ability to get into the operating theater in order to have those things done is now in a better position. and as a result, stericycle is well positioned to handle the growth of our customer base as they move back towards a normal which would be a 2019 level and then, certainly, have an opportunity to grow beyond that. we're well positioned. liz now, a lot of people don't know this, we were lacking at the fact that you, you were able to shred a billion pounds of paper from office buildings. you have a very vibrant with office building business at least right now. can you compare it to the shutdown dos, ott lockdowns in march of 2020 to what you're seeing now? because in a way, your business, to me, is almost like a proxy for whether people are going back to work. >> you know, great callout, liz, in terms of that comparison.

we did see a shutdown. the good news on our shred business, on our secure information destruction side of the business, the other core business we have, the good news is while the world did shut down, 60% of that business for us still stayed vibrant which meant our front-line service providers were out in the middle of pandemic servicing other essential businesses that stayed hope. -- open. that caught us a good -- taught us a good bit about who actually is the client base that is, you know, general a rating -- generating information and data that they need to keep compliance with reference to privacy. so we learned from the shutdown and have group back steadily since then. and anytime you're going to get people to come back to an office setting where they're more open to business, there's more collaboration, more engagement, more transactions of things, anytime that happens they're

just -- there just naturally is that generation of paper. and, you know, they rely on a brand like stericycle to make sures the handled compliantly, and we all know how expensive it can be with the mishandling of information. liz: and in a sustainable way too. i've covered your company for a long time. i get very geeked up about kind of stuff, medical waste. [laughter] business waste too -- >> i do too. liz: you can relate to it. cindy miller of stericycle, great to have you. >> thanks so much, liz. appreciate it. liz: banking analyst richard bovey saying the slide in first republic shares, the fdic will take over the struggling bank just as charlie gasparino predict last tuesday. right now the stock is continuing to fall,s the now down 4 2. 5% to $3.56. we are keeping an eye on it

minute by minute for you. and elsewhere, ed sheeran facing the music many federal court this week. oh, look at that paparazzi crowd here as the grammy award ward-winning singer defends himself against claims his 2014 song thinking out loud are copies chords from the marvin gaye classic let's get it on. is this a case of the suit being totally off key? we'll get you the latest next. dow jones industrials gaining 209 points. let's see if we can hold above the 200 level here. we're going to get you all the latest news and individual stock stories next, don't move. ♪ when your legs don't work like they used to before -- ♪ and i can't sweep you off of your feet -- ♪ will your mouth still remember the taste of my love? ♪

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liz: fox market alert, we do have between on the screen and, by the way, the volatility or fear index is down today about 6% at the moment to just 16. very, very low. so we've got the dow jones industrials up 202 points, s&p up 25 and the nasdaq charging ahead once again by 55 points. hey, we've got to look at first solar. we do in this final hour have at least some bottom fishers nibbling at the edgings of the shares here. the stock, while still down about 9.33%, has reclaimed a chunk of the earlier losses. first solar's trading at $182

and change. earlier though, session low, $170. investors have been throwing shade on first solar after the company missed first quarter earnings by a wide margin. sales at $548 million versus an estimate of $718 million. the solar panel company did reiterate its full-year guidance. investors also hanging up on t-mobile after it missed wall street estimates for the first quarter revenue, adding fewer than expected subscribers. t-mobile says increased competition and customers postponing plan upgrades did contribute to the lower numbers. the stock is down about 4.33%. the parent of snapchat, we were talking about this earlier with daniel, is plunging after snap reported its first ever decline in quarterly revenues. the social media app blaming changes to the its advertising platform it said did hurt demand for ads. it also warned that results in the current quarter could fall below wall street's arguments.

snap, like its rival, is operating on a tight, in a tight online ad market where companies are drastically reducing their marketing budgets. investors are drastically reducing their holds in the stock, down about 18.75% right now. snap's not the only one taking a hit, investors showing no interest in pinterest after the digital mood board company provided a weaker than anticipated second quarter sales forecast. app known for its personalized pages of trends and fads did beat on the top and bottom lines. social media platform also announced a new ad partnership with amazon that allows users to navigate to the amazon shop through a pinterest link or pin, and that is doing nothing for shares. they are down 17%. all right. from pinterest boards to the music billboard charts, wildly popular singer/song writer ed sheeran is locked in a legal ballot over one of his hit

songs, thinking out loud. the closely watched music copyright trial wrapped up its first week in manhattan federal court. the heirs of ed townsend, the man who cowrote margin ghei's let's get it on -- marvin gaye's are saying ed's song is too similar. madison alworth is tuning up the volume on this story for us. it's a big music business story, and people are watching. >> reporter: absolutely, liz. ed sheeran actually took to the stand yesterday with his guitar to play part of his song and prove that he can't copy. the sheet music from that iconic song. he he played a portion of thinking out loud, showing exactly that. so let's take a listen to his song. ♪ darling i will be loving you til we're 70 ♪ >> reporter: and now let's listen to let's get it on. ♪ let's get it on, oh, babe, let's it it -- get it on ♪

>> reporter:, okay, so sheeran is being accused by the heirs, as you mentioned, for stealing from that original song. but sheeran's defense argues that sharing a chord sequence does not amount to copyright infringement. they played a video during the trial to prove that, they're showing through that video that a four basic chord progression is played many many songs. so whole video was played in courts, it's about 5 minutes long. we're going to play about 20 seconds right now. ♪ if i could, then i would, i'd go wherever you will go. ♪ can you feel the love tonight. ♪ and she will be loved ♪ >> reporter: and, like i said, that song goes on for for about five minutes with multiple different songs overlaid with

that same chord progression. the point was something that a forensic musicologist also told us that is outside of the case, but he agrees wholeheartedly with ed sheeran and the defense. take a listen. >> in my view, this is without merit because ed sheeran is using a common if place chord sequence, and the rest of songs are dissimilar. the melodies are dissimilar, the lyrics are dissimilar, the songs have different forms, they are mostly dissimilar. >> reporter: the trial resumes on monday, liz, and ed sheeran will take the stand again. no word whether or not the guitar the will join him this time around. liz: i don't hear it, but you know what i did hear? definitely heard the simplies when robin thicke's song, blurred lines, they claimed had a sampled the marvin gaye song, that i could hear, totally. but this one i don't really hear. >> reporter: yeah. i mean, obviously, the prosecution, they're going to

say that it's there, but the defense vehemently arguing. i -- it comes down to the sheet music and looking at exact copy which the defense is i saying is purely not the case. liz: okay. after you guys listen to the ed sheeran and marvin gaye songs to the decide for yourself, turn your dial right to my brand new everyone talks to liz podcast episode with famed tiktok influencer kat stickler. how kid this single mom who found herself divorceeded, without a job, turn her personal obstacles into laughter and a very lucrative career? if you're out there thinking you cannot recover from personal pain or tragedy, i really want you to hear how kat pushed through the very dark and difficult times to find major success. you can listen on apple, spotify, amazon, iheart radio, wherever you get your podcasts. and, no, it does not sample anybody else's podst cast. u.s. steel down at this hour after it reported first quarter adjusted earnings had fallen 75% from a year ago.

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liz: folks, we need to put first republic back on the screen. the number to watch for this stock price is $2.98. that is the low of the session. and, of course, the all-time low of the stock which at its high all the way back in november of 2021 was $219. with about, as we say about 18 minutes left to raid the, we do have the stock at $3.67, that is a loss of 40%. there are reports that the fdic and charlie gasparino told us this was a possibility about two days ago, that the fduc would

put first republic in receivership. we are watching it closely, watching the headlines and the tape. as soon as we get any information on that, we'll bring it to you. and, by the way, we've got bank analyst chris whalen coming up. but first, exxonmobil hit a record high today as investors gush over the results from both exxon and chevron are. both oil producers beat expectations for first quarter revenue. you've got chevron up about 1%, exxonmobil up about 1.6%. and if you shift over the a different business, u.s. steel. but it's benefiting from the oil boom. the steelmaker beat first quarter forecasts and rising sales of profit from oil well pipe. that helped offset a loss in the company's flat-rolled sheet steel business. year-over-year first quarter adjusted earnings did drop though 75%, so we need a little more gran you lawyerty on this. -- granularity on this. joining us now, president and

ceo, david burric. that's a big drop. >> thanks so much, liz. i've got to first say we've got to thank our employees. through the ups and downs, they always come through for us. these folks work 24/7/365 in tough environments, but we couldn't be more pleased with our ability to beat the expectations yet again. liz: and, by the waying very courageous job with, a steel mill is in-- dangerous job. so my props and my respect. >> i would say it use to be dangerous. we're doing better on that. in fact, i like to say we're the undisputed leader many safety as measured by by days away from work. we're 18 times later than the bureau e of labor statistics, so we feel great. we invented the term safety first, and back in the early 1900s -- liz: did you really? >> and we continue to make this our mantra the way we live. will. liz: well, let's talk about, david, the numbers here. because those are great numbers. we want safety for everybody, for sure. i wish that would translate to

some of the revenue and some of the earnings, etc., but tell me about that 75% crop concern drop. if you can clarify for investors who may be watching right now or would-be investors, that may help them to see, always but a you've got a very interesting forward-looking story too. >> yes. i think the future's incredibly bright. in fact, i would say i'm bullish on u.s. steel for the future. but we have ups is and downs. a year ago steel prices were dramatically higher. that's one of the the things that was in store for us in the past. we have seen steel prices come back this quarter, though not at the high levels that they were a year ago. so we've got good momentum, we've highlighted that our second quarter's going to be better than our first quarter. second half is a lot more uncertainty, you know? we don't know for sure what the fed's going to do. everybody has an opinion about that, but we won't know what happens until we get through it. but beyond that, because of the way we're investing in the future, we want to have best

operations, we want to headache sure we have the best partnerships and we're taking market share, and we believe that will enhance our multiple longer term with these new strategic investments. liz: let's talk about your relation to the oil business because not only did you have a very solid number when it came to pipe that is used in the oil industry, but look at rig count. rig count up 8% year-over-year in march, and your tubular business, explain about that and how much that plays into the picture of the future for u.s. steel. >> well, the great news for u.s. steel is we have a diversified portfolio, so flat roll's down, tubular business is up. this is actually putting off some really good numbers now, and while there the may be pressure on prices, it's still a very healthy business. that's what you want to have, a diversified type portfolio. so we're not just dependent on one industry. we have multiple industries s. and as we move forward with our new investments, we'll be even more nimble, more flexible.

liz: we like our steel ceos here. earlier this week we had lorenzo lourenco goncalves of cleveland cliffs. they've got in this electrified steel. you brought a piece of electrified steel. >> yeah. liz: you are manufacturing this as well. does it demand a higher price? el the me about it. >> to us, this is breakthrough, steel. this is lighter, it's greener and it's more profitable. is so you've got the stockholder benefit, the customers crave this -- liz: can i feel it? >> yeah, you can. liz: oh, it's thin. can you guys even see? >> yeah, that's .1 millimeters to give you an idea. liz: and it is used in the auto industry for which parts of the car? >> this is part of the motor. liz: okay. >> so you, in effect, stamp it and then you stack it, you make increased connectivity.

so you have lighter steel that enables the cars the drive farther. liz: oh, i mean, it's, it's like a piece of paper. i'm playing vanna white, by the way. [laughter] >> we're going to have a brand new mill later this year -- liz: okay. >> in -- in osceola, arkansas -- liz: how many employees there? >> across the whole complex including the electrical steel, our coating line and our new big river 2 complex, we're going to be adding another 900 to the 800 that we already have there. liz: before we go, does it help you that there are new requirements in the chips act and not to mention the infrastructure bill that require that a lot of the steel used in these projects has to be made in america in. >> it's fantastic for us. mined, melted and made in the good old usa. so not only is this great, great for our stockholders, great for our employees, great for our customers, it's great for the planet and for the usa. liz: will you tell your

employees that "the claman countdown" really likes them? [laughter] we love the steel -- [laughter] i like this. i'm keeping it. no, thank you very much. [laughter] david burritt of u.s. steel. great to have him here. markets are on pace to finish the month mixed. we're going to tell you the one index set to end april lore. that is next. and with the closing bell ringing about 11 minutes away, dow is holding on on to really solid gains of 199 1 points. we are coming right back -- 191 points. we are comindon't g right back. oh, my daughter gives the best hugs! we're just passing through on our way to the jazz jamboree. [ imitates trumpet playing ] and we wanted to thank america's number-one motorcycle insurer -for saving us money. -thank you. [ laughs ] mara, your parents are -- exactly like me? i know, right? well, cherish your friends and loved ones. let's roll, daddio!

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the bank is pretty much busted. we wrote about it in my blog. they moldly hold loans. they don't have a big security portfolio. most of this is home cook, interest only loans for their clientele, so hard to sell. that's the calculus any investor is going to make. unless they pass it through the fdic refe cd receivership i dont think you will get much out of this. liz: it was citibank and a whole bunch of banks that got in. and this market cap is half a billion dollars right now. >> the market is telling you what i described.

if you mark the assets to market today, that's what happened to the bank. they have been forced to sell assets to give people back their money. ands banks have 15-1 leverage. it's good on the way up, bad on the way down. but all banks, the fed and treasury have to accept they created the problem. that's the beginning of a solution. >> creating the problem. we have seen silicon valley bank and signature bank go down. do you think there are more shoes to drop here? >> yes. what's happening is the market is looking at outliers in the group. banks that don't have a robust business model and don't have a good connection with their depositors. the bank of the ozarks raised the deposits.

they went to the customers and said $we are raising our deposit rates. all banks have to do that if they are going to survive. have a great weekend. liz: thank you very much. aside from the first republic drama, we have the fed's rate setting meeting. people are looking for safety through dividend paying stocks. explain what the dividends arils to krats are and which ones you like. there are a bunch of them. >> the dividend aristrocrats looks at companies that consistently raids their different -- raised their dividends. so as an investor in this

uncertain market you feel comfortable owning these stocks, especially for the longterm. caterpillar, mcdonalds, pepsi, names that are all part of the aristrocrat strategy. liz: mcdonalds is hitting a record high, and pepsi is hitting a record high. you still like the dividends. >> it's been an impressive april. the last two weeks impressive as we enter may. and you have the fed meeting next week. as a long-term investor i love dividends. companies that show they can consistently return capital to their shareholders are companies

i like. liz: metronic is the highest. caterpillar 2.2%. what do you expect the fed to do? >> consensus is a quarter point hike. so that's what i'm hoping and predicting. anything higher than that would not be looked at favorably. i think you would see the markets turn negative if that were the case. >> thank you very much. here comes the bell. the dow jones up 276 points. it's 264. we are still settling. the dow and s&p end the week with gains. [♪♪] larry: hello, folks, welcome to "kudlow.