curious amc tweeting, thank you, charles. power to the people let's get gary gensler to protect everyone not only the elite 1%, but the 99% are waiting for government to do their job for all. i have one about jamie dimon, and saying that authorities should "go after anyone shorting and tweeting about banks." michael tweeting, sounds more like he's afraid that's going to happen to him. honestly i think he's probably sitting up there a little bit too arrogant to worry about that and it's really considered the most powerful bank in the world, but you know what? there should be systems and rules in place for everyone. i love your tweets keep them coming @ cvpayne. now, liz claman. liz: charles as we kickoff this final hour we're forced to split the lead because we've got three competing stories developing right now. disney, pacwest, and alphabet google. disney getting throttled right now down more than 8% after post ing a surprise exodus of

disney plus subscribers then alphabet google which is vault ing to a nine-month high. right now it's at 117.12 nine month high is 117.192 so just below it right now its just launched 15 new ai-driven products. it's keeping the nasdaq at least trying to keep the nasdaq in the green. its been in and out here we go. we do have the nasdaq up about 36 points, and the regional route continues. pacwest is getting absolutely torched, down 22%, session low for the stock, $4. we're at $4.71 right now. the west coast regional bank reported its deposits declined 9.5% last week. that equals to about $1.5 billion. and yes, disney is the biggest drag on the dow jones industrial s. the entertainment giants drop accounts for just about 55 points of the blue chips at the moment which of course the dow jones industrials is down 231 points right now but you know what? intel, dow, caterpillar,

walgreens, they are not helping the picture. no denying it though this allergic reaction investors are having to ceo bob iger's reason for the subscriber losses is knocking $15 billion off disney market cap right now. coming up we have picked out the exact sentence from iger's earnings call you need to hear in his own words about the disappearing subs, and then what we're going to do is dissect it with needham's laura martin who says a merger with apple is essential to restore the magic to the magic kingdom. and we've got to show you right now what's happening with the regional banks we just show ed you pacwest. well look at these, co america is down 5.75%, bank of ozark is down 2.8%, citizens financial down 2%. you see western alliance in the green up about 1.5%. it had been down 4% at the open. like pacwest, it also reported its deposit flows, but unlike pacwest, its deposits the bank says remained stable.

now, the fact that it's up, that's all very nice, but still down 53% year-to-date and here is the three-month picture. you can see where it fell off the cliff just after silicon valley bank imploded in march. now, the price action though in zion says a lot. this is a regional with a strong balance sheet, and a $3.4 billion market cap, and you know what? if it can't stay in the green that speaks volumes. right now, the utah-based bank is down 3.5%. so this leads to the question as you look at the dow, and the s&p, which is losing about 7 points are the markets being held hostage by the convulsions in the regionals and what are you as an investor to do in and around that? let's get right to the floor show our traders we have carnivore dutch masters alan nuc hman, and needham's senior internet and media analyst laura martin. dutch, the regional banking etf 's are hitting one week lows, the kbw, et cetera, that speaks volumes because one week ago

pacwest and western alliance were getting killed on those reports they were explor ing, you know, strategic options to stay above water. dutch, what has to happen before this is over and stops affecting the broader market? >> well, i think, you know, my message is that this too shall pass. we do like zion's bank quite a bit because they are conservatively run outfit. they do a lot of sba loans so they aren't taking a lot of risk with their balance sheet. they aren't making silicon valley-type loans. they have 11 states that they're in in the western united states. i think for this to pass, we do need to have somebody stabilize things and, you know, the fdic approval, proposal is out there and it's something that i know that you've been discussing and, you know, i'm a free market guy, so i believe that making stupid decisions should have some consequences; however, i also

don't think that a company that's sitting with a billion or 2 billion or 3 billion in cash at a bank, should be punished for that stupidity as well. it's certainly not there. liz: you see that as an opportunity. i want to bring in alan nuchman in here. you have been on the trading floors at times like this. talk to us about what you be doing at the moment when it comes to whether it's buying the s&p, selling the s&p, you tell me. >> well first to get to the banks. all right, few bad banks, they broke. it's capitalism. unfortunately, they didn't understand how to hedge and they didn't understand their customer base, so it's a velocity money story so i don't think it's a systemic issue at all. i think there's huge opportunities. you talked about the regional bank index 147 banks i'm an options trader i would buy options three to six months out and be in position because the pe is 7. they dropped 40% compared to the xlf, only dropped 15%. liz: which st. big financials. >> it's a risk reward play but in the big picture it's all about the nasdaq. you lead with google. it's starting to play ball just like meta, just like apple.

they had huge recoveries nobody wanted to buy them and now, they are looking good, but you could see the nasdaq, the ndx is actually making new eight month highs almost everyday. tech has turned, and i think there's a very healthy sign that we could see the s&p break out of the range that we're currently in. there's a lot of price positives , 2023 has been nothing but positive except for the dollar down, interest rates down, inflation down. liz: and the regional banks are you nuts? what do you mean? >> unfortunately, nobody -- liz: and the s&p is flat. >> well the s&p has bounced 15% off the october lows, but the regional banks, nobody is actually lost money on their deposits. it's an unfortunate situation for the shareholders that we've seen this , but you know, "the situation" is this. they were poorly run and like dutch said, you know, they should not be rewarded for not hedging. it's not hard. that's what they got trading floors for is to hedge the risk and they chose not to. they suffer the consequences. liz: dutch, tech. suddenly, when you throw that term ai or artificial intelligence around, you get a

pop like what google is doing. that's all very nice. i've seen that movie before, where people threw in a crypto prospector remember, oh, we're adding dot com to the name of our company. >> marijuana stocks. liz: yeah, exactly. orphin fintech. >> alan is dead-right. tech has bottomed. we love tech. we think they have done the hard work and been blasted. they laid off the people, we think we could be seeing a slingshot in tech and since tech is 25% of the s&p 500 it's going to drag that up too. liz: how do you play tech dutch? >> we are long tecl and tqqq right now. liz: i'm imagining that's one of those direct type of things where you get the triple or double the move every time if you're long? >> yeah, well you know, carnivore never goes half way, right? liz: [laughter] i know. that's why you're a meat eater right? alan? we got the ppi. >> right. liz: this is inflation at the

manufacturing level. it was very tame. it was either a match or slower than expected. that is all good news, is it not >> and yes, and i'm not a thinker. i'm a trader. i trade what i see okay? and what do you see? you see the markets telling us that we're done with the rate hike cycle and it's not what the market did necessarily. it's what it didn't do. we had rates grow from 0-5% and the market is still within striking distance of the all-time highs, and recovering every time in history , that we've sold off, we filled the gaps up above and there's one in the s&p at 42.18 so there's a lot of positives. liz: retail names are all reporting next week. >> that's the end of earnings season. it came out better than we expected and we've seen revenue growth called pricing power. people have wages and inflation are equal now, so nobody feels it and nobody likes it, but that's very much about walmart has got earnings coming out next week. they have recovered all of their losses from that big dramatic sell-off when we were expecting a recession and setup for a v- recovery for a technical

target at 200 which is another 30% higher. you've got earnings coming out expecting a 4% earnings move but leading the way. they are blazing the way as far as a barometer. liz: are you doubling down dutch on retail yes or no? we've gotta run. >> yeah. liz: [laughter] okay. >> options use options. dutch, instead of those three times etf's that's just me. liz: [laughter] >> i know. i love alan, man, he's great. liz: you both are and thank you so much. it's great to have you now let's get to needham's laura martin because i'm looking at disney down 8.7% at $92.34. low of the session was 91. the annual high, 126. let's get to the heart of the matter. disney reported the total subs of their flagship disney plus service dropped by 4 million to 157.8 million in q 2 just compared to q 1. how worried are you about that? >> you know, not that worried. i think the bigger problem is that linear tv networks lost one

-third of its potential all operating income that's the esp n, and owned and operated stations. that's actually what's pulling down the profitability and i think that's what's pulling down the stock. they are narrowing the losses in streaming. they did better by 400 million lower loss this quarter than last quarter, and 400 million lower losses on streaming and that's what the market wants to see. they want to see more profitability from streaming so i think it's the linear losses that are the problem today. liz: okay, but, here is bob iger 's comment and we went through with a fine tooth comb his earnings call on exactly why he says he was totally fine almost with the subs losses and we picked out this sentence we thought our viewers needed to hear it. i'll let you parse it afterward here is bob iger. >> we were pleasantly surprised that the loss of subs due to what was a substantial increase in pricing

for the non-da-supported disney plus product was deminimis. it was some loss but relatively small. that leads us to believe that we , in fact, have pricing elasticity. with that in mind, i think one of the things that we not only have discovered but that we believe we have to do is we've got to widen the delta between the ad-free service, and the non-ad-supported service because we clearly would like to drive more subs to the ad- supported service. liz: laura? most of the deflections, and i think what he's trying to say is that they came from the sort of el-cheapo subscribers and that's hot star in india and once the cricket tournaments are over, they end, right? so they leave, but 300,000 u.s. and canada, disney plus subscribers fell. will that go even higher next quarter, current quarter, what do you think? >> yeah, i think what he's saying is do you remember when they introduced the ad-driven tier they priced it at the old

price of like 6.99 and took the ad-free tier up like 30% and what he's saying is that huge price increase of 30% did not lower their ad-free subscriptions, so he's going to raise that price again and widen the delta meaning he's going to leave the ad-driven price at 6.99 but take up the ad-free and why? because he makes more money on the advertising driven tier. liz: why not? you say at the moment it's not going to be a winning year. i don't know what, for disney, unless they merge with apple. really, do you really think that's a possibility? >> you know, good question. i think apple has to decide first that they need to get serious about content. i think it's the only way to drive user engagement, and, you know, i think disney still is in a leadership vacuum behind bob iger. he's doing a great job but they brought him back, with a two year contract, he's got 18 months left, so i think they have a leadership problem, after bob's contract ends, and i think

apple buying it would solve that problem. liz: yeah, well, laura, you've got to come back because each step of the way, we're watching disney, and its got strong parts of the business and he's going to merge disney plus with hulu. that's going to be very interesting too so thank you so much. laura martin, futures traders are betting even bigger than ever at this hour on an interest rate cut in september, but one of wall street's top strategists is here to say not so fast. charles schwab chief investment strategist liz ann saunders games it next. closing bell 48 minutes away the "clayman countdown" is just getting started. dow jones industrials down 240 points. we are coming right back. don't move.

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meeting, 28% of the nearly 80% who think we will see a second cut after july, are betting it will be a 50 basis points cut so half a percent much bigger, but minneapolis federal reserve bank president neil cashkari dumping cold gatorade on that idea today a voting member said inflation is too high and "i am now on the more hawkish end of the fed policy spectrum." but what are the biggest voices on the street guarding for? joining us charles schwab chief investment strategist liz ann sa unders. is this growing bet on a rate cut another fever dream by futures traders? >> well, i would say to those betting that way, be careful what you wish for , because i think the conditions that would support not just a pause but a pivot in fairly short order to rate cuts be pretty horrific conditions and this idea that all else equal meaning not much change in inflation which is nowhere

near the feds target, no major disruptions at least yet in the labor market or more broadly in the economy. i just don't see the conditions under which the fed would pivot to cuts. if it happens, it's probably because of something much more serious erupting within the economy, most specifically within the labor market, or the banking system problems turned into something a bit more systemic. absent that i think pause is the mo for the fed for the foreseeable future. liz: so you would have to see somewhat of a black swan or at least a duckling of sorts before you'd even expect to see a 25 basis point cut. >> well this idea that they would start cutting without inflation anywhere near their target but absent any turmoil in their other official mandate, which is the labor market, maybe unofficial which is the potential systemic problems in the banking system, i just, i think there's disconnects in

that narrative and in the meantime, what they're showing is that they think of the rate tool as the inflation tackling tool, and i think a pause, i think the may meeting was probably the final hike at least for now, and then their macro credentials inclusive of the bank term funding facility they put in place in the immediate aftermath of svb, i think that's how they could potentially tackle ongoing stresses in the banking system and think of those tools as somewhat distinct. liz: and of course the fdic has proposed that there is an increase in what they expect to get from fees as far as the big banks are concerned, as they pay into kind of refill the coffers of the fdic and what they had to spend to rescue all of the depositors for silicon valley bank, signature, et cetera. >> right. liz: monetary policy, let's see where it is going, because when you look at inflation, yes, today we got ppi pretty much in

line but year-over-year, consumer inflation. 5.5% and that was core. it feels like it's still sticky. in that scenario are there areas in the market that look decent to you? >> well, i wouldn't say areas maybe in the way people traditionally think of areas, which tends to be more at the sector level. i think factor orientation makes more sense right now then monolithic sector calls and tied into the macro environment, in particular what's sort of missing in the macro environment is the way to think about which factors, in other words, for characteristics makes sense so most aggressive tightening cycle in 40 years. that's starting obviously to put strains on companies that don't have the cash flow to either fund their operations or even pay interest on debt so you want to look for ample interest coverage. obviously, stronger balance sheets of companies that have more cash, less debt.

we're in a fairly weak forward earnings revision environment. look for positive earnings revision revisions, positive earnings surprise, lower volatility, so there's sort of a quality wrapper around factors and i think that's a better way to approach this kind of market especially with correlations coming down than just trying to make a blanket overweight-under weight sector call or two which is going to in some cases load you up are great stocks and not so great stock sos focus more on factors than sectors. liz: before we go, after the pause, which is widely expected for the next meeting which is in june, how do you think the markets react? >> [laughter] you know, i don't know. i think it depends on what else -- liz: everybody says it will go up higher... >> well first of all i really take issue with what a hear often which is usually has the word "typical in it" like the market typically does and i just put a column in the "financial times" that got

posted online today about just this issue. 14 rate hike cycles in the history of the s&p and the range of outcomes around that final rate hike, in fact if you look a year out from the final rate hike, you're talking about a range of down more than 30% to up more than 30 %. liz: kind of wide. >> so shame on anyone that says typical or average, because it's a small sample size with a gigantic range and there's so many other factors that come into play. the spread between the final hike and the first cut, even there, what's the reason for the first cut? is it financial crisis-type situation, or if it's a really benign soft landing like 1995 where urls in the midst of the blowing up of the internet bubble, so every outcome is different. i'll go back in saying that i think if it does look like the fed is going to cut in short

order, given what will likely be the conditions supporting that, that be , i think, a risk factor , clearly for the market. liz: interesting. all right, liz ann sonders, marching to the beat of her own drum. it's like chaos theory with jeff goldbloom where he says you think the drop of water goes this way but then it doesn't. thank you, liz ann. >> thank you, liz. good to see you. liz: investors seeing red when it comes to softbank after the japanese giants vision fund posted a record loss. now, investors are looking toward the mega ipo of a softbank-owned company as a way to sure up its balance sheet. which one and how did it do in the softbank earnings picture? we'll get it next. closing bell ringing in 36 minutes. you still have the nasdaq up 27 points but the s&p and the dow in the red. we are coming right back. we alw? liberty mutual customizes your car insurance... so you only pay for what you need.

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works to deliver a greener, healthier lawn - guaranteed. it's time to trust your experts at trugreen. go online today! charles: fox market alert we do have the dow jones industrials hasn't moved in past 29 minutes down 261 points low of the session though has been a loss of 403, so well off that bottom there. softbank at the moment is down at this hour, after its tech investment arm vision fund post ed a record $32 billion loss for its fiscal year. the japanese tech company and investing company has cashed out of uber and sold most of its stake in t-mobile and alibaba.

softbank stock is down about 1.5 % says nonetheless it's ready to go on the offensive and specifically looking to invest heavily in, here comes the keyword, ai. but by the way, that $32 billion record loss would have been much worse had it not been for softbank's chip designing unit arm lead by ceo renee haas. it saw sales of its customizable processors jump 5.7% to a record and progressing toward a blockbuster ipo later this year. arms listing on the nasdaq is expected to be valued between 30 and $70 billion. we should look at beyond meat getting pounded. shares are hitting a new all-time low down 18% to $10.24, despite the fact that the producer plant-based meat reported a narrower than expected net loss and a $0.92 a share, and look, there's weakening demand for mock meat. beyond does announce plans to raise up to $200 million in an

equity offering. that be dilutive, investors often don't like that. that's why the stock is selling off. sonos earnings not exactly resonating with investors that stock is down 25%. shares of the speaker maker are dropping to a five-month low after revenue for its main stay speaker business fell 24% in the second quarter. company also cut its full year sales outlook due to softening consumer demand, and the bulls are looking rather unified on unity software. shares of the video game software provider are up 13% after the company posted a strong first quarter revenue and boosted guidance for the full year. unity also announced plans to reduce its workforce by 8%. folks, you know this is a very big deal when a dow component names a brand new ceo. one of the biggest industrial conglomerates in the world has picked the man who started three decades ago at honeywell to lead

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lomita feed is 101 years old. when covid hit, we had some challenges. i heard about the payroll tax refund that allowed us to keep the people that have been here taking care of us. learn more at getrefunds.com. liz: the top brass at honeywell ringing the opening bell at the nasdaq today. the industrial conglomerate and technological leader in everything from avionics to home , technological devices hosting its investor day here in new york city. the event was really quite a bit of a fanfare, in part, for incoming ceo vimal kapur who replaces the current chief at

the start of next month. he joined honeywell more than three decades ago, in his first broadcast interview as the incoming ceo, i sat down with kapur at the nasdaq market site to pick his brain about what's next for his honeywell. first of all, thank you so much for being here. >> thanks for having me. liz: as incoming ceo, at your investor meeting today, what is the gut of the message that you want them to get from you? >> so, i think two messages. one is honeywell has been a great execution and that culture is going to stay. we have been performing every quarter. we deliver shareholder results, and strong execution for honeywell, and the second is honeywell has a great future. we are a business which address es critical segments and energy transition, air travel, digitization, and these trends are here for decades to come, so

we have great history, we have a great future, and it's my job to make this company even better. liz: your most recent earnings didn't just beat. they crushed it >> right. liz: both top and bottom line. i'm not sure that was lead by the avionics division. what is going on in avionics at honeywell that has made it so robust a division? >> yup, so aerospace is our biggest business. it went through its challenges of supply chain after covid the supply chain got really stressed. we put out actions to address that and we can see results now. our volumes grew 20%, or revenue growth 13-14% in aerospace. liz: can i ask, does it look as strong or stronger in current quarter? >> we're going to maintain the same momentum the whole year so aerospace will be strong 2023 , strong 2024, with outstanding backlog, markets are very strong, and that's like a macro where we are talking about air travel here to

stay. air travel, the need for all of us to be around is not going to go away and that positions us very well. our q 1 results were very strong by our other segments too. our bmt business which is an energy segment grew 15%. our building technologies business grew 9% so we had a strong performance across-the-board which is a good place for me to start. liz: honeywell has really put a lot of effort into synthetics, sustainable, greenfield. >> right. liz: how long, ivmal, before we don't use jet fuel anymore? >> it's probably, yeah, it's a good question. i think the jet fuel probably is going to stay here for a while but think about it this way. the traditional jet fuel will slowly start reducing and the sustainable fuel will slowly start increasing. there will be an inflection point probably in i'd say if i have to guess 15 years from now when they crossover and then the traditional jet fuel reduces and the sustainable fuel grow. that's at 25-30 year journey.

liz: it's a good place for me to ask because you have so many diverse divisions. right now you are in gas imaging , which can detect gas leaks. >> uh-huh. liz: as you mentioned you have building software that's in 10 million different buildings >> uh-huh. liz: healthcare division. you are actually a really good judge, i would think, of what's going on in the overall economy. what do you see right now? >> so if you look at our business, anything which is long cycle for us is really doing well. so our business in aero, and energy segment really have strong positions, strong backlog short cycle businesses are more linked to economy, and like everybody else, we are watching very carefully. that is imprinted in our forecast. that's why we signal when we started the year 2-5% growth and then we upped it to 3-5% during our q 1 release but we do believe we want to be cautious because i can't forecast the economy in september-october, and short cycle businesses really have that level of turnaround.

liz: but as the ceo of a dow component with a huge market cap , $133 billion, you have a unique prism through which you look. >> yes. liz: we just got the producer price index number inflation at the manufacturing level, that i would imagine is right in your wheelhouse. >> uh-huh. liz: costs are coming down, what do you see? >> look, the inflation coming down is positive. i think inflation overall increasing endlessly is not a good news for the overall society so what we see is there is a reducing inflation but increasing interest rate, and at what point it's going to have a settling effect so the markets feel normal, and the short cycle impact goes away so that's what we see. we see lack of, i won't say investment but lack of spend in the shorter cycle, and we are -- liz: such as what. what is your short cycle business? >> so we have our buildings

business, building automation business, we have a huge focus on -- liz: the stats and things like that? >> yes, we have fire panels, security system, business management system these are like six to eight weeks between somebody wants to buy and we ship the product so what will happen in terms of our bookings in june will determine our performance in q 3, and those are the short cycle businesses which are a little bit more under our eye. we are doing everything possible to get our fair share, launch new products. it's not that we are sitting and watching things to collapse but we have to be careful and watchful on how things shape up. liz: i've been covering honeywell since the company made the dashboards for the space shuttle. >> okay. liz: i know this company, and it has only grown in scope, not just size, so all these other divisions, you know, it reminds me, because i used to work for a division of general electric like ge, which was making light bulbs and refrigerators and aircraft engines.

we know how that worked out and it eventually had to breakup into a whole bunch of different pieces. how do you, as the incoming ceo, wrap your arms around so many different divisions and continue to make sure that they're all running at their best rates? >> so we have simplified honeywell a lot over the last, you know, few years. my predecessor did spin-off two segments, homes and our business in auto segment. the way i look at honeywell as incoming ceo is the one way to look is multiple businesses, aerospace, performance materials is one way to look at it. i call it the lens of how does it impact our end customer or what macros we address and essentially we are in four macro companies. we're big in air travel. we're big in automation. we're big in energy transition, and we digitize our customer operations. so that's what we are, and my job is to make honeywell focused on these four macros in a much more focused manner. there will be some portfolio adjustment we'll have to make both addition and subtraction.

liz: you'd be ready for that. >> i'm ready for that. liz: we look at all these companies, we're suddenly activist investors parachute in. many are in for a quick bust. warren buffett often says activist investors don't care about the company but they are a reality. >> but we proactively look at our portfolio every year. we are our own activist and make sure that if we hold something we have a right to hold and add value and it's a formal process. we do it every year and we know what we keep and how it creates value for our shareholders. liz: i want our viewers to know something about you because it's never just about the horse. it's about the jockey when it comes to investing. >> right. liz: you started at honeywell 34 years ago. >> absolutely. liz: how does that give you a unique advantage? >> it's i would say it's a privilege to having worked in the company for such a long time i know i lead many businesses so i understand businesses. liz: did you lose count how many businesses? >> absolutely, multiple of them , so customers know me well. i know the customers. i know our workforce.

i know our processes. that gives you great advantage. liz: vimal, great to have you. thank you for coming in. good things come to those who wait. all right up next, charlie gasparino invades the "clayman countdown." yeah, i'm using the invade word. closing bell is about 15 minutes away. we've got the dow down 257 nasdaq is the only one in the green up 22.

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liz: this is an interesting one. this breaking news just hitting the tape. elon musk made a major announcement via twitter about the newly, quote, excited to announce i have a new ceo x/twitter. she will be starting in six weeks. my role will transition toking executive chair, chief technology officer, overseeing product, software and psyops. >> psyops. >> that is psychological operations. liz: no word who. let the guessing game begin. >> put up a chart. liz: sheryl sandberg of tesla? >> would help tesla shares. he has more time for that. liz: tesla is moving higher 2 1/2%. >> there you go.

>> it had been at low of the session 166 bucks. it is now at $172 and change and climbing. you're absolutely right, charlie. >> the stock traded off tremendously since he was involved in twitter. look at that pop whee. liz: exactly. >> put up twitter shares. liz: not syops. >> there are 500 companies in the s&p today, i just found that out. liz: okay, joe kernen. >> i didn't mean it like that. i was poking fun at myself. stop it. i do remember the. liz: breaking news, sheryl sandberg is without a job. marisa meyer, former yahoo! ceo, cheryl fryer chief financial officer of square, running a america door social media company.

>> maybe liz claman? >> oh, my god. >> get to my story, dammit, before i hear wrap. liz: meese, go, go. texas state officials punishing down on big corporations involved in environmental social justice. >> blackrock is out of it. they don't do bond underwriting. do a lot of investment portfolio. ubs and citigroup are out. costs them a lot of money of of texas is not a, mutual bonds finance housing and different things involving state spending. two companies are on the list trying to get back on. we understand it's city group which is holding conversations as of right now. they're off the list because they opposed doing business firearm companies.

so since february they can't do any business. ubs is the other one because they fail, according to texas people, they adopt woke environmental policies, they embrace esg. should put up citigroup's statement there. disappointed they are on this list. they are on negotiations to get back in from what we understand. we don't know if they're going to get back in. if they do get back in it is a net positive for the company and the stock. that is why we're covering this. ubs is a little different. they have been fined by ken paxton, the attorney general, mishandling after bond deal that had to be canceled. they did the deal, by the way, liz, had to be canceled by one of the state officials becauseth on the can sell list. they had to repay the municipality. they reached a settlement to repay the municipality some lost interest in the, all the sort of trauma that went on. so both these companies are talking to texas state officials.

i wonder if they are going to really -- if they drop their woke policies, both of them that would be an interesting, interesting development in this battle between red state finance -- liz: can do it just for texas? because other states like it. >> yes they can do, that is a good question. could they just do business with texas firearm companies? maybe. i don't know. it is hard. i think it is blanket rules. if they do back out of this thing, liz, it is a big story because it will be a big feather in the cap for red state officials looking to punish woke corporations. blackrock is on the list, this is what i don't understand. they don't do any investing in oil and gas companies. they do bazillions of dollars investing in oil and gas companies. >> >> this: a check all the boxes investment. >> i don't know why they hold it against them. larry -- liz: they're not paying attention. >> they don't watch fox business and liz claman. liz: they should.

>> tesla story is interesting. i don't think marisa meyer. i don't know why you mentioned that. liz: threw it in there to start a little something. i can see sheryl sandberg. is she crazy enough to work for elon? that i know up a guest. that is one of the impediment, who has internal fortitude to work with someone as crazy as elon musk? liz: i thought it would have been john legere of t-mobile. didn't get picked. it is a female, we know that, charlie. closing bell in four minutes. the dow is on pace for the fourth loss in a row. s&p down slightly. nasdaq up about 25 points. federal reserve chairman jerome powell said he plans to stay the course bringing down inflation, you heard neil kashkari say he is on the hawkish end, still thinks we need to keep rates tight there may be a trade when the fed starts to at least pause and then cut. last time our countdown closer

was on the show, commodities he said will do well when that happens. he is mark lopresti. mark row press at this joins. what do you intend to buy? >> i agree with liz ann sonders one of the smartest money managers on the street. i do not see the fed cutting this year as much as i would love to see it. i think we hear a dovish adoption of a pause in the june meeting which the fedex police italy disavowed last week. when that happens, when there is a actual true indication we're at the end of the line cuts are coming i don't believe they will come this year as i said before, you're going to see as we have in the past four consecutive rate hike cycles commodities, particularly gold and silver do well. liz: okay. >> so we're looking for that to happen again. liz: gold and silver, silver is actually dropping today. >> it is. liz: that popped in my eye, that

is interesting. still in the 20s. >> yes. liz: silver, gold, talking about metals only when it comes to commodities? >> we're looking at some of the agricultural commodities as well and there is other reasons for that, wheat, corn, things like that but there are other technical things causing that to be an interesting setup in addition to just the pause in the rate hikes. liz: dow is down 227 points. that is a disney problem. >> yes. liz: you're not that interested in disney. you're way more interested in names like palantir, who else? >> super interested in tesla. liz: yeah. >> breaking as we came on, charlie of course covering that. i've been saying it for a while. liz: i covered it. he came up with the idea looking at stock. >> just breaking news to everybody watching. >> we're like brother and sister. we are just fighting constantly. >> he always takes all my airtime. charlie, come on, we'll talk about that later. this is unbelievable news for tesla bulls. i have been for a long, long time. this is one of the things

analysts and tesla shareholders have been looking for because it's hard to say that elon musk, brilliant as he is, hat not been a little bit distracted running tesla at the same time. liz: folks tuning, elon musk tweeted he has pick ad ceo to run twitter. he will kick himself up to the chairmanship role and cto. it is a female. that is all we know. let the guessing game begin. always great to have you. >> always a pleasure. >> never know. mark lopresti, thanks so much. [closing bell rings] only nasdaq moving higher. disney the big drag on the dow jones industrials today. that will do it for us. see you tomorrow ♪ larry: hello, folks welcome to "kudlow" i'm larry kudlow. we're hours away from the end of title 42 as america's southern border falls eve