machine in history. there's been a dramatic decline in robinhood downloads. at one point retail participation was near 5 the % of the daily volume -- 25%, now it's less than 15%, and many people cashed in and went to to money markets, which is fine for now. my hope is that you take these lessons that you're learning in this market, the hard lessons, the tough lessons and you commit to always todaying in and always learning. you are not doomed to poor performance, you are not doom thed to losing money in the stock market. but what you have to do is stay the course. just look at the last couple of weeks. there are names that i know i was down on big, now i'm up big. i stay the course, keep learning, don't give up. that's my advice today, right, liz? liz: perfect advice. yeah, don't freak out. please, let me do the freaking out. [laughter] thank you very much, charles.

okay, folks, we are kicking off the final hour of tuesday trade after the long holiday weekend with a split screen because we've got two breaking business stories. on the right a live picture of the house floor where the rules committee has just assembled to begin procedural move to establish how the house will handle the debt ceiling deal struck over weekend. once that is completed, it will become a bill which can then be voted upon by the full house. we are being told by fox news congressional reporter chad pergram this could get testy. shortly before 1 p.m. eastern, republican representative chip roy said house speaker mccarthy should pull the debt ceiling bill, so we're watching that very closely. now, on the left what you just saw was the all women's prison in bryan, texas, and former theranos founder and ceo elizabeth holmes just moments ago checking in to begin her 11-year sentence for defrauding investors in her sham blood

testing business. you see her mt. middle with the blond hair. we are, coming up, covering both of these stories for you. republican presidential candidate asa hutchinson ran a surplus as governor of arkansas. what because he think of the debt ceiling deal, and we'll ask how, if ever, can u.s. get back to running a surplus like the one that other arkansas governor bill clinton managed to to create. and former bernie madoff attorney ike sorkin on elizabeth holmes' chances of being sprung early from prison and whether defrauded investors will ever see a dime of the $452 the million she owes them. right now let's look at the markets. we've got a mixed picture here, they appear to be reflected both a tiny bit of relief that a deal has been struck, but also some discomfort that the extreme wings of the of both parties have already planted their flags on the i nay side. dow jones industrials down 97, is temperature -- the s&p up 1, nasdaq up 61. none of what we just outlined is

ruffling the nasdaq's feathers. the tech-heavy index which friday added 277 points right now is adding on to that by about half a percent or, as we said, about 60 points. the buoyancy coming from nvidia which earlier touched an i all-time high of $419 a share and became first semiconductor maker to the hit a market cap of $1 trillion. note that it has since treated from both of those metrics. right now it stands at $402 and change, and there you go, i'm looking at the moment at a market cap of $994 billion. by the way, you can see from the one-way picture this is day three of invideos ya's gains -- nvidia's gains and current quarter outlook thanks to demand for its high margin a.i. chips. thursday shares soared 74 points, friday tacked on another 9 points. now, let's flip it over to this point loss on the dow jones industrials. we are off the lows here, low of

the session had been a loss of nearly 200 points. right now down 1099. maybe this loss concern 109. maybe this loss hints a lit -- hurts a little bit less considering friday it gained 32 the 8 points. weakens from visa, procter & gamble and merck. each of them down just over 1%, but if you rook at dow leaders, they are populated with chipmakers and tech giants. intel in the number one pole position up 3.33% followed by crm, that would be salesforce, up 1.5 the %. apple, cisco follow there, as you see, top 4. does the market view the debt ceiling angst as perhaps a yesterday story? and will the a.i. boom be the economy's knight in shining armor? let's get right ott floor show, kenny polcari and scott redler who, by the way, two weekes ago on "the claman countdown" said he was long c3ai shares which, heck, scott, they're going absolutely nuts at this hour. i believe they hit a 5 2- week

high earlier, and month to date they've spiked about 117%. and you also got call options, right, on nvidia? tell me where you stand right now on both of these names. >> all right. going into earning, obviously, there was a lot of hype in nvidia, and as an active trader, i talk about never taking stock into earnings. so i did come out day of earnings and said i'm buying an nvidia call spread. it's going to cost me $1.50 to make 8.50. all i needed it to go was about 332, and it obviously took off. it was, like, a 5-6 timer. to anybody who listened, it was very tradeable thereafter, and like some people have said, this story's going to continue, okay? but you have to be the careful, not have too much as a trader at the wrong time. today it hit 419, but overall nvidia's been the place to be, and it's been a leading indicator for risk. since march we've been talking about that health of tech, how

nvidia was pretty much a leading indicator to buy other tech-type names to play along, for catch-up, follow through. and about a week and a half ago ai went against the hindenburg report. they said, you know, they were week concern cooking their books, doing whatever they were doing. they came out and said it's not true. by the way, if you remember the the ceo of ai, he was at seening back mt. day. liz: sure. >> i'm sure kenny remembers, you know, when we traded that back in the day before they rolled up all those software companies to make a behemoth. and we also probably remember when apple hit trillion dollar mark, played with it before hitting multiple trillions. milestones are awesome, especially when you're in there, but you have to know how to deal with it. is so nvidia at this point i think a lot of traders are are reverse the 385 area. ai, i think it could the hit close to the 60, that's your

next big resistance area. liz: very close. hold on, let me jump this here. ai, 41.41 is the high of the session, right now it's $40.08. kenny kenny polcari, could ai and the boom surrounding it, i flash the warning flag here because, you know, we don't want to see another meta verse type of situation or 3-d printing type of to situation where everyone piles many and suddenlyst not a thing anymore if. i'm not sure that's this situation, but do you feel that the boom -- whether it's the legit or not -- will really keep the united states out of recession because people feel better at least about one sector here? >> no. i don't think there's boom in tech. listen, to be to fair, i own all those same names that scott was talking about, nvidia with, ai and amazon, but i don't think the excitement in this sector is going to prevent the economy from going into a recession at all. i still the, i actually think we're in this rolling recession sector by sector as you and i have been talking about.

i think ultimately though it's not going to prevent the economy from if slowing down. liz: kenny, what about this debt ceiling in real i'm discussion here? right now on the house floor, i don't know -- can we pull up that live picture of the house floor at the moment? the rules committee, which is made up of 9 republicans and 4 democrats, are battling it out the create the rules upon which it can then be voted by the entire house. there you go, you're looking at it right now. some of this this may already be many danger. >> well, you know, they say it's in danger can the, and we did see and you mentioned right at the top of the show about the three senators, i think it's chip roy, biggs and it's the, one of the other guys, i can't remember his name, that are coming out and calling it abysmal and they can't even believe that mccarthy made a keel like this. and so it doesn't sound very encouraging at the moment, but i wonder if that's all just positioning, right? we'll find out as the day wears on. one or the other, while it may create some angst here, i still

think, i still think that they're coming up with a keel, we're not going to go into default, i think they're going to drag it out until sunday night at 11:00, right on the 11th hour -- liz: well, sure. >> right? so i don't, i -- liz: finish your thought. sorry, go ahead. >> no, i just think that it's all, it's all pomp and circumstance right now. everyone's trying to to, you know, get their voice out, tell them what they think now that it's cone can, and we'll see where it goes. liz: scott, you're theist here, and as i'm look at the s&p, 4906, we recall what happened during the t.a.r.p. t.a.r.p. the voting right? the troubled asset relief plan back during the financial crisis. at first a lot of congress voted existence it, and the dow fell at the time 777 points. it was the biggest point loss ever on the dow jones industrials. and that sure scared a lot of people in congress. i was running down here, larry kudlow was in the hallway, i i

said, larry, is this thing many jeopardy or is it going to pass? he said, oh, it's going to the pass. welcome to washington, liz. these people who are making noise just want pork for their district. that said, let's go to the chart here whether it's the s&p, the nasdaq, the dow, what levels are you look at that will make you start to worrisome. >> it's so funny, everyone wants to look at what's going to to make you worry. people have been worrying all year. they've been saying we should be many ea -- recession in january, and we're approaching june. i traded through t.a.r.p. the, and i remember that selloff. this is so much different. this is the debt ceiling. you know what? we've lived through this 10 times in the last 15 years, and it always gets done. washington wants to prove they're kind of relevant, they're really not. even, i don't know, they didn't come up with a deal, there'll be some furloughs, everyone will get paid, and a week and a half later there will be a k50e8, and all there was was short-term volatility.. i'm looking at 4180 in the s&p,

as long as that holds, i always say sometimes you can't get too bearish. if apple is going to go on a tear to its all-time high, you can't get a too bearish especially if it holds its earnings gap of is 7 -- 170, which it did. now it's at 177. we all need bomber thes. at this point i would say as long as they hold 417, as long disease as the ks, right now they're at 350.50, as long as they hold 346, i think active traders are going on the okay. liz: okay. gentlemen, thank you very much. we're looking at the dow now down 94 points, s&p standing at 42 the 06. disgraced theranos ceo elizabeth holmes has now reported to the all-female prison in bryan, the, where she will serve an 11-year sentence. the minimum security facility is where holmes. has been ordered to go after

defrauding investors with bogus claims about theranos' bloodest thing technology. famed defense attorney ira sorkin known for representing upon citi schemer bernie madoff joins us next in a fox business exclusive on whether holmes will really serve out the entire sentence. closing bell, 49 minutes away. we're watching a jittery market at the moment. we have a very important eye on what ice going on on -- eye on what's define on on capitol hill. any developments, we will get them right to you. don't move. ♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this.

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liz: all right, just a few minutes ago former theranos founder and ceo elizabeth holmes

arrived at a federal prison at bryant, texas. holmes is starting her 11-year sentence after a you are jury found her guilty of four counts of fraud related to her blood testing technology which turned out to be a scam. theranos claimed they could run lab tests for more than 100 different diseases with just a single drop of blood. at its peak, theranos was valued at $9 billion making holmes at least in the world's view before they knew about the fraud, the world's fist self-made -- first self-made female billionaire with some calling her the next steve jobs. let's bring in white collar criminal other than and bernie madoff attorney ike sorkin, and we do want to the kiss close ira's firm has also represented fox news media and fox corporation on a variety of matters. all right, ira, having pretty much walked step for step with

bernie madoff back when he was convicted and sentenced to 150 years in a north carolina prison, what's going through somebody like elizabeth holmes' mind right now? >> she has probably been advised at the first number of months are going on the very difficult for her. hen she's going to to settle in to a routine. now, she didn't pick the prison. the prison is picked by -- the bureau of prisons. her lawyer can make a recommendation that she be sent to the a particular prison, but it's the up to the bureau of prisons to decide where she's going to the go. and what the lawyer does is, judge, would you please recommend spot bureau of prisons that -- to the bureau of prisons, and most defendants and there's a whole industry that looks at what's the best possible or the least offensive prison that an individual can go to the. they study the prison system,

they study what's better. a lot of defendants want to be close to the hair family. their family. so they pick which choose. liz: i remember reading in so many of these magazine articles where they were waxing poetic about her and just lavishing praise and future genius, etc., about her that, oh, she flies on a private jet alone with nobody on it. she has these lovely, you know, turtlenecks just like steve jobs. what is it like for these people once reality slaps them in the face? they're sharing a cell with three other women, three other prisoners, and they're scrubbing pots in the can kitchen. >> it's very tough. but, again, as i said, you settle into a routine, and you have to accept what it does. she's not going to -- there are six, there are six federal prisons, the least is the, what they call the, you know -- liz: club fed? >> right. the worst is out in colorado, the supermax.

supermax is 23 hours a day solitary confinement in a cell, and you get out one hour a day the for exercise by with yourself. that's the supermax. the others are like bunk beds, and you get into a routine. but it's going on the a change -- to be the a change of a lifestyle that they're not used to. liz: eleven years in prison, that's her sentence. she is still trying to appeal. she has to to now do it from prison. how much success do people get from that attempt in the white collar criminal worldsome. >> it really depends because, obviously, two sets of judges have rejected the appellate issues. district court, they went to the district court, the lawyers, and said there were some appellate issues so, please, can she stay out until appellate issues have been resolved. district the judge rejected that. then they went up to the ninth circuit because the ninth circuit has jurisdiction over

california. and they tried the ninth circuit, and the ninth circuit looked at the case and said we don't see appellate issues here, so is we're not going to clay the sentencing. and that's how it turned out. liz: $457 million is what she now owes investors, and these were very famous, very smart investors, everyone from a friend of this network, tim draper, venture capitalist, he put many a million in the very early stages. you had rupert murdoch, of course, head of our parent network, fox. he put in something like $125 million. larry ellison, i believe, put in several million. and then you have henry kissinger putting in $85 million. are they ever going to see a penny of that even as the judge ordered her to remunerate them? >> probably not. may cough, and i just want to correct -- madoff, i just want to correct something.

the government initially said it was a $64 billion fraud. that was on paper. the actual loss was only $20 the billion. that was real loss that investors suffered. liz: okay. >> and in the madoff case, the trustee has been successful in drawing -- clawing back somewhere in the neighborhood today of about $15 billion. you're not going to see a clawback with respect to holmes' case. i don't believe you will. so they're out. liz: so she's on the hook for the rest of her life if she agrees to sell a book or her story about prison, all of that money has to go straight to the investors. >> there is a law in new york, now -- liz: it's the california. >> she's california. the son of sam case? the cade berkovitz case? -- david berke berkovitz case? before you were born. liz: oh, i'm not sure. [laughter] >> the son of sam case, law is that you cannot profit are from telling your story that resulted in your incarceration and your conviction. so that may be the case with her.

liz: let's turn to another high profile case, sam bankman-fried of ftx, the cryptoto the currency brokerage. he has now demanded that 10 of the 13 fraud charges be dropped and prosecutors in turn are turning around and asking a manhattan federal court judge to deny sam bankman-fried's request to dismiss his criminal charges. do you think there's any -- what is that, a lawyer? is that sam bankman-fried? >> it may be a defendant -- i'm sorry9. liz: so, you know, you've got the prosecutor asking the judge to deny that request. what happens here? >> what happens is the judge is going to the analyze are it, and in most cases you're going to see lawyers making such demands in pretrial motions. that there isn't a sufficient amount of evidence to to go to trial, that there's a defect in the indictment, a whole bunch of law -- a whole bunch of series of motions that defense lawyers make.

most times they're unsuccessful. a judge will look at case, and the judge will probably deny it. liz: oral arguments are june 15th. what do you expect from something like that? >> i haven't seen the papers, so i don't know. but he's got a very good lawyer, bankman-fried does, and it's the standard to make these types of motions. you want to try to narrow case. liz: okay. >> and by marrowing the case, you're going to try to feel out what the government's going to the say. it's a discovery mechanism. there may not be sufficient basis the dismiss the indictment or the counts in the indictment, but it's certainly an attempt by his lawyers to see if the you can get out of from the government some of their here to roys -- theories and some of their evidence that would be used at trial. liz: ike sorkin, thank you for your perspective. >> my pleasure. liz: our viewers like listening to you. >> maybe i'm in the wrong business. [laughter] liz: no, you're in the right one. >> sorry about the phone. liz: there are always criminals out there. thank you very much. >> you're very welcome can.

liz: as we await the ptx saga, bitcoin is trading close to $28,000 as investors suddenly plow into risk assets following tentative the progress in the debt ceiling deal. that's tentative the, we're going to the stress that. a host of crypto stocks are also soaring. we're going to show you which ones next. and later take you live to the capitol hill for the latest breaking news on the rules committee discussions on the house floor right now. closing bell, 36 minutes away. s&p clinging to a 1-point gain. nasdaq up 57. ♪ ♪ that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold.

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liz: fox business alert, we have been talking about markets a lot. they are exactly in the same color where they were at the top of the show. dow is in the red, s&p and nasdaq in the green. we need to get right to the oil. the price of goil gapping down in the after-market right now by 4% on worries that that u.s. debt ceiling fight is not over. oil actually closed down in the regular session by about 4.4%. crude rose earlier after president biden and house majority leader kevin mccarthy did reach an agreement to raise the debt the ceiling, and part of it included the fact that there would be a provision in the debt agreement that would help make the permitting process for drilling oil easier. but then opposition to the deal from both sides of aisle, mostly

though pretty vocal republicans, has led to uncertainty in the sector. prices also being dragged down by unserty over -- can uncertainty whether opec+ will increase output at its june meeting. apache, devon, valero, everybody is in the red, apache down about 4, devon and valero getting clipped by 2% or more. jm morgan has added wayfair, ticker symbol, yep, w, to the its u.s. analyst focus, impressed by the company's plan to control expenses which it believes will lead to positive earnings. price target of $63 to the stock, right now it's the at $40 and change. that, of course, represents more than 70% upside potential, and at the moment it's gaining about 10.33%. bitcoin briefly breaking above the $28,000 level over the weekend at -- as details of the agreement wean president biden

and kevin mccarthy were made public. the deal blocked some taxes that the biden administration proposed including a 30% tax the on bitcoin mining. the the crypto is down 5% for the month though. we like to give you some perspective here. its worst monthly loss since november, and quarter to date it is down 2 percent. of but crypto miners heading northward at this hour. marathon, riot blockchain and hive, everybody is moving higher with riot the big winner here, up about 10.33%. this is a moving, breathing situation on capitol hill, the debt ceiling bill. is it already in jeopardy? the house i rules committee right now on your screen holding a hearing on the bill as congress races to pass legislation. we are about to get you a live report from capitol hill on who's already gunning to vote no. as the mad dash to the monday default deadline looms large and likely to imperil the stock market, gop presidential

candidate asa hutchinson, who ran a sur plus as arkansas governor, weighs in. say tuned. asa hutchinson live in studio. and this week on my podcast the cofounder and see owe of t, and ar labs, a molecular diagnostic company that specializes in the ability to dedetect the early, early stage cancer cells. back in 2020 the cancer, this is the latest number that we have, killed nearly 10 million people worldwide. so what if we were to be the able to find a solution to a major problem that affects each and every one of us? he tells us all how it started, what the test can do, and it's iron ironic coming as thunderstormer theranos former ceo and founder goes to prison. he is very different in his approach. you've got to hear how he allows peer reviews and so much more and what it may be able to do to catch cancer before it kills. closing bell ringing in about 27

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liz: we are going to continue to tell you that when it comes to raising the debt ceiling -- again, the deadline, june 5th -- this is not a done deal yet. members of both parties are showing a bit of fury over or the compromise. right now the 13-member house rules committee is the first hurdle. let's head out grady trimble on capitol hill where the clock is ticking away. grady, where does it sand? >> reporter: liz, this house rules committee meeting that's going on as we speak is the first test for the bill. all it would take is three gop

nos to stall the bill and prevent it from getting to the house floor for a full vote tomorrow. we know two of those committee members are nos, so we're waiting to see if one other member, congressman thomas massie from kentucky, is a yes or a no. and while we wait for that, let's take a look at what exactly's in this bill that their discussing. they're cussing. it keeps non-defense spending basically flat next fiscal year and caps it at 1% the following year. it claws back unspent covid relief money and some money from the irs. it expands work requirements for some people receiving s.n.a.p., which are food stamps, and suspends the debt ceiling until january of 2025 the. >> the democrats will tell you there's nothing in the bill for them. the president numerous time eses kept asking for tax increases, new government programs, and i just said no. and he says, well, there's nothing in it for us to vote for. i said, well, there's a debt ceiling increase we can go

forward on. >> reporter: but not all republicans feel that way. members of the conservative free come caucus held a press conference the afternoon bashing the bill for not going far enough to cut spending. on the opposite end of the political spectrum, proifgs are barr bashing -- progressives are bashing the bill for cutting spending and adding work requirements, though none of them has explicitly said yet that they'll vote no. what we do know is that all four of the leaders in congress concern mccarthy, mcconnell, schumer and jeffries, they've endorsed this bill. the question now, liz, is whether they can whip the vote, as we call it. get enough republicans and democrats to vote for it to end send it to the senate. liz: yeah. you know, grade grady, it doesn't look like the democrats are going to help out the party in control of the house, so they'll do what they have to do to support the president and the deal, right? >> reporter: but remember that . the president was part of brokering this deal. while they may not like the

provisions that mccarthy put into it, they certainly, most of them, you would think, would support the president. liz: right. >> reporter: but we heard from some progressives like congresswoman pramila jayapal who chairs the congressional caucus of progressives, and they don't like a lot of what's in this bill. so we shall see. liz: well, isn't that a good bill when both sides hate it? [laughter] at least some? grady, thank you very much. grady trimble. all right, for reaction let's turn to 2024 the gop presidential candidate and former governor of arkansas asa hutchinson who, during your governorship, ran a surplus. would you like this deal as you have look looked at it? st the 99 pages. would you have voted for this? >> i would like to have a better deal. of course, everybody would like to have more steps in controlling federal spending, in reducing our deficit, but we don't control the white house, we don't control the senate. we've got to the do best we can many getting -- in getting the framework for reducing spending.

i applause played speaker mccarthy. -- applaud speaker mccarthy. he held the line. th president wanted a clean debt ceiling bill. he's not getting that. he's having spending constraints in place. sure, we'd like to have more. we've got a serious, serious problem in excessive federal spending that our next generation of americans are going to have to answer for. so we've got to do more. you know, as president, i would make sure we start on this process earlier, that, of course, president biden didn't agree to the start it earlier. he waited 90 days even to meet on it. you've got to control spending, you've got to submit a balanced -- i mean, a budget that cuts spending. and then you've got to work with congress to do that. and that's the key ingredients. as governor, we did have a surplus. we balanced the budget for eight years. governors do this day in and day out. and part of that is tightening the belt. we reduced state government employment by 3,000 workers

while i was governor. liz: and you cut taxes. >> and we cut taxes at the same time. we grew the private sector, reduced regulation, and we created a $2 billion surplus. you can manage effectively. washington needs to start doing that. liz well, the last time we saw a surplus on the federal level was in 2001, president clinton, another former governor of arkansas. do you foresee a path to eventually get us back to the even just a balanced budget, leapt alone a surplus? >> well, i do believe that we can get on that path. liz: how? >> well, you know, i started a slogan in the campaign saying debt-free by '33. doesn't it sound great? liz: it does. >> but all themies said you couldn't make it happen. but you have to start. you're never going to get will the millions you start, and we can move toward -- unless you start. we can reduce spending which is the most important thing we can do for our economy here in america. so it can be done. whenever you look at 2000,

whenever we did balance the budget, i was in congress. that's the last time our budget was balanced. that was over 20 years ago. and it did take some bipartisan work. you had newt gingrich, you know, as speaker at that time. clinton the as president and then bush came in, and we actually balanced the budgets as well. but it took some work on both sides to the get it done. liz: with, right now already thy the naysayers are out are there. you were in congress, now it's the chip roy of texas who is coming out and calling it something that i don't think dignifies this show, certainly, because it's pretty obnoxious, but he hates it. let's put it that way. matt gaetz is saying she doesn't like it, lauren boebert is saying she doesn't like it. and then you've got rand paul, the senator, who says fake conservatives agree to the fake spending cuts. is this a fake spending cut? >> well, it's actually a 1%

growth in the non-defense spending. 1% growth because inflationary growth is higher than that. under congressional measuring a tables, that is a cut. now, i think it's, it should be more. and, you know, rand paul and these others have a point. we needed to do more. sure we need to do more. but we don't have leverage to get it done right now. we need to get more representatives, more leaders in there that wants to cut spending. liz: well, biden came in, the president came in, worked with mccarthy, and they got this deal. but now we don't know what's really going to happen. there will be a lot of drama, kabooky dancing, i've heard that reference a lot. but the markets are what we often the here on this show. we remember back during the financial crisis when t.a.r.p. was not passed, and the markets went haywire. dropped dramatically. right now we have the s&p 500 crossing the unchanged line today alone 84 times.

we could look at that intraday and see that. as president, i mean, i know that it's getting crowded out there. senator i'm scott has just jumped into the -- tim scott has jumped into the race, and everybody's talking abouted -- talking about the fumbled rollout for desantis. if you were president, how closely would you look at stock market as an indicator that americans really want a deal done? >> well, the stock market is important because that reflects the investment in retirement accounts and 4021ks. these are -- 401(k)s. these are is they've things -- savings of americans. once the deal is done and passed, the market's going to recover. of so any setback now, hopefully, will be rare. but what the markets want is consistency in policy whether it's energy policy or whether it's the reducing -- they want to see washington work where they actually pass budgetses, they control spending -- budgets, they control spending and they have some the discipline.

that's how markets respond, and as president that's exactly what i want to bring to the table, is a president who spends a budget on time, that are reduces spending and works hard at that and also on the private sector side of the growth. that's the only way we're going to solve the challenge of the deficit, is to grow the private sector and the economy. we've got to be able to do that, and we can. liz: good to see you, governor. >> thank you,. liz: thank you for being here. and, again, a creature of surplus just like bill clinton, only bill clinton was on the federal level. great to see you. thank you very much, asa hutchinson. we are coming right back. we're watching the headlines, we mow chuck schumer, the senator from new york, has said he supports this debt ceiling deal. we will hear more both for and against. we'll bring them to you as they come in. ♪ ♪ one of the things that my mother told me when she was in the hospital, she didn't tell me, actually, she couldn't speak at the time, but she wrote it down...

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♪. liz: we just heard from 2024 presidential candidate says is a hutchinson. turn to the feud behind the scenes between the two front runners in the race, former president trump and front-runner ron desantis. behind the scenes, charlie gasparino has behind the scenes. >> caucuses are heating up both

in the state of iowa. desantis will try to extract as much of he can on donald trump's apparent flip-flop on disney. donald trump initially said desantis was screwing up the whole disney thing. he seemed to be siding with disney between the feud between desantis and disney. recently did a flip-flop. said desantis went too easy on disney. don't know how that came about. probably came from polling supporting disney is not good with republican base voters. desantis sees this from people close to him as fertile ground. show that donald trump was too easy on disney. when when disney was all but celebrating how the chinese communist party thanked them for helping do their movie in september 2020, when donald trump was president. so what they're going to say, disney did catch some flak at the time, people like me, conservatives writing columns,

what the hell are you doing thanking the chinese government that may have given us covid? this was in the middle of the covid pandemic? desantis people see that as fertile ground. look for him to start stepping up on his attacks on trump regarding disney because he believes this is fertile ground from conservative base voters dominate the iowa caucus. he is down nationally. you have to win the early states. he thinks he can do it with that one. i want to switch to carl icahn. that is my best imitation this feud is heating up. it is not going away. as desantis schemes behind the scenes own how to tweak trump carl is doing the same thing with hindenburg and ackman. from what i understand, the quote i got, can we put it up there? there it is. that's the quote i hear carl is telling people. revenge is best served cold. at the right time he will make his move. liz: it's dish, it is a dish

best served cold. >> whatever. but you get is going on here. >> whatever. >> he is coming for him at some point. it's matter of timing. i should point out i did not hear that from carl. i spoke with people that know him. carl, i want you to please come on the show with me and liz. i want to hear the gravelly voice that talks like this. i want to hear him say i will stick it to hindenburg and make them squirm. anyway, one of the things on the table as we reported last week, semifor came out and basically parroted our story could do a stock buyback and do a short squeeze. that being shorted that stock is thinly traded controls 85% of available float. if he bought it all, that would create a pretty big short squeeze, they would lose a lot of money. that is one of the things i hear is on the table. revenge is certainly on carl icahn's mind right now against the shorts.

whether it is hindenburg, it is interesting. there is rumor ackman is somehow funding hindenburg, that is a rumor. he doesn't believe that is the case. ackman took a shot, like mic in the face stuff. so the whole thing about ackman being like in cahoots with hindenburg, you know, there is no evidence and not even carl believes it. just for you conspiracy mongers out there, revenge is coming, at some point soon. back to you. >> thank you, charlie. microsoft, let's take a look at that because there is so much discussion about a.i. stocks. of course microsoft is the biggest investor in openai which is the organization behind chatgpt. it is push me, pull you type of day. we have it down slightly 2/3 of a percent at the moment, despite the fact that wedbush is saying artificial intelligence colab with openai chatgpt is the

game-changer. our "countdown closer" says you know what? pick the tech driver to put in your portfolio. we have shelby here. is it microsoft a.i. transition. >> we're a fan of microsoft at "motley fool" asset management. we hold it in the fool 100 fund. because they're a large-scale competitor in this space, they are well-positioned to really capitalize especially in this a.i. race in the long term. of course they're facing these sort of but tell next. they're not the first to want to ramp up on generative a.i. and certainly won't be the last but when we look at the world when these sort of sticky issues clear up, it will come to the companies that have a developed customer base where they land and expand with this new product. they will have the most sophisticated operations to move forward. that is what keeps me positive

on microsoft these days. liz: land and expand, that seems to be exactly what nvidia is doing. so much attention being bestowed on nvidia right now. it is not a one trillion dollar market cap. didn't look like it would close. it earlier touched the unbelievable peak. it is trading $472, up 7%. last week it was incredible. if you had to choose the problem becomes the p-e ratio. >> right. liz: when you compare microsoft to nvidia's, this is where it starts to get a little dicey. the forward p-e for microsoft is 28. nvidia's is 84. i believe its trailing pe is 208 but people are piling into nvidia. is that a good move or bad one? >> you know where i think this comes from looking at the short run. when we look at nvidia we see almost a pure play monopoly on

most coveted items, that is the g. p for the a.i. technology. for the past 18 months, sometimes what is valuation, right? this has got to be the most valuable place for me to be and unfortunately times the higher you climb the longer you fall. so that valuation is pretty steep. liz: okay. >> it's, you know, we're yet to see whether or not they will be able to live up to it, but i can't say they're not at least positioned to try to capture part of that. liz: shell bring mcfad din, come back, we want to see how it plays out. here come the bells. s&p committee chairman john chambers. [closing bell rings] corcoran founder, barbara cork can will join it. don't miss it. what happens if the rules committee has stumbling to do to get the debt ceiling passed. "kudlow" is next on that. ♪. larry: hello, folks, welcome to "kudlow," i'm la