charles: you know, it's hard to believe that a disaster in a foreign country wreaking havoc on the united states, and there's very little we can do about it. of course, i'm talking about this air quality situation in new york, new jersey, the eastern participant of the country. it's reaching dangerous levels, and it's due to that canadian wildfire. now, earlier today new york city mayor adams is considering, says he's considering closing schools because air quality is the worst it's been since the early 1960s. now, for those or who are medically sensitive and you have to be outdoors, health officials say wear masks, but the cloth masks don't work. you know, i think we went through that before. all i can say is be careful, folkses. right, or liz? liz: well, yeah. and apparently a whole bunch of midtown offices are letting workers go earlier, there is serious uber pricing at the moment. we're getting all kinds of reports as people try and leave the city. fox market alert, we do have the

markets mix at this hour, dow jones industrials in the green by 107 points, s&p down 10 points and we've got the nasdaq down 133. we are going to begin with that breaking news. we're keeping an eye on airline stocks because the fc concern faa has just lifted the ground stop at laguardia airport in queens which was put into play at around is p.m. eastern -- 1 p.m. eastern time due to the smoke from the canadian wildfires that is choking the entire city. and dramatically cutting pilot visible. you are looking at a live picture of the empire state building in midtown, manhattan, where an eerie yellow haze of smoke is enve hoping the entire city. the smell of burning wood drifting across the entire city. on your left, that's the new york city skyline, a shot taken from jersey city across the hudson. you cannot see the skyline. the national weather service has issued an air quality alert that is actually now spreading to

parts of new jersey and connecticut as well warning there are at least three more days of choking smoke ahead. new york city mayor eric adams calling the very unhealthy air quality alert unprecedented. schools across the tristate area have canceled outdoor activities and field trips, and new york road runners group has called off its global running day event set for today. so we're keeping an eye on this developing story. we do have a hazy picture for some of the major indices, specifically the s&p and the nasdaq. it is a tech-driven selloff for the nasdaq which right now is down 133. for the s&p, a close of 9 points or higher is what stands between the broader index and the bear market exit door. we're not there at the moment. we had been earlier though. the s&p right now down is 11 points, had been higher by 15. all right, let's talk about netflix. netflix had been on a tear after jpmorgan hiked its end of 2024 price target to $470, and look

at it right now. it had been up about 4%, now it's up just half a percent. now, here's what jpmorgan said, they're optimistic the streamer's crackdown on password sharing could really boost revenue, but if you rook at the intraday chart -- look at the intraday chart, shares hit a high right at the open and just hours later you see the selloff. that may be because "the wall street journal" reports at this point amazon's plan to launch an ad-support tier for its prime video streaming service is coming. amazon may be down 4% but, of course, the fear that investors of other streamers have when the big 800-pound gorilla of amazon somewheres any market, that become -- enters any market, that becomes the issue. with all the streamers starving for content while hollywood's in the throes of a writers' strike, we're going to get. kevin they're's -- maher's reaction to this. and the directors guild has unanimously approved its new

contract. oliver stone is going to join us live on his brand new pro-nuclear energy documentary, and oil investor kevin o'leary will follow that interview with his unique opinion. finish again, he's investing in crude. in the meantime, we have 57 minutes left to trade. exactly one week from today during this hour federal reserve chair jay powell will be explaining why the fed either paused or hiked interest rates, okay? seven days away. so let's get to the floor show. joining he now, u.s. chief economist steve rah chute toe and chief invest investment strategist michael -- [inaudible] it's really a weird market today, not to mention a weird picture. look at this skyline behind me, this is radio city, a yellow tinge across the entire sky and in a way there's sort of an equation between that and sort of a murky market. x the dow which is up 10 is 6. today we've got -- 106. tesla racing to a new 2023 high

on news all its model 3s will be eligible for the $7500 ev tax credit and yet the pe ratio stands at 66. let's drill down on valuations, michael. are you comfortable with these valuations, enough to buy in? >> i am overall comfortable with the valuations, liz. what's interesting is if if you take out the top five stocks out of the s&p 500, i know it's a little bit of a challenge to do that, but if you do, the rest of the market is trading at just 14 times of a price to earnings multiple. that seems reasonable. so areas that i like much cheaper. small cap, value, early stage stage the cyclicals. i know financials is a dirty word, but we like 'em. industrials. those are all trading at a much more compel valuation, and i think they're -- compelling valuation, and i think they're more interesting than the broader s&p 500 right now. liz: i get it. i do think that's interesting, but when you rook at all of

these names whether it's amazon, a guy like buffett if or my value investor would say forget it. steve, when you look at the economy and what will drive many of these tech stocks, today investors aren't believers. why not? >> well, i think what's happening is the bond market is taking a rational look at what is out there as potential changes in monetary policy going forward. and the market for a long time has ignored the higher for longer that the fed has been preaching. and i think the market's slowly starting to come around to the realization, at least in the bond market area, that, you know, we aren't likely to have that scenario unfold. if we're really talking about an environment where the broad, you know, the equally-weighted portion of the s&p 500 is going nowhere and isn't moving lower because that just implies we don't have a resession their environment, then the -- recession their environment, then the fed has a problem on their hands. liz: well, it's kind of interesting to see see a bit of moderating with the fed funds futures. yesterday there was more of a chance that we would see a pause

next wednesday, and today just t more on the 25 basis point hike for interest rates. and here we have it now at about 38% for a 25 basis point rate hike where yesterday it was more like 29%. what do you make of that, and what's the market interpreting here? >> i think the bigger question is beyond just what they do in june, what do they do about the dots going forward. we believe they're going to take cuts i out for the end of this year, and we think they're going to move cuts further into 2024 which means they're going to lay out dots that really suggest higher for longer is realistic. they're no longer going to be anticipating this near-term pivot in monetary policy that markets have been banking on, and i think that's the critical change you'll see in june. liz: michael, that's exactly what fed chair jay powell has been trying to bash into the heads of the markets and investors, get ready for it, absorb it and accept it. so let's say we accept it. where are the best places to invest right now if you believe

what the fed has been saying? >> so i think it's clear that if the fed is going to continue to fight inflation and interest rates are likely to remain high, the economy's going to slow, inflation's going to come down, and i think that moving up in quality in the united states makes a lot of sense. so quality, liz, is in the eye of the beholder or. so what i'm talking about is companies that have been able to grow their dividends for a long time, for 20 consecutive years or more. of when you think about the s&p dividends aristocrats index, for example, companies within that index have grown their dividends for 20 consecutive years or more, they tend to have very stable earnings, they tend to have great balance sheets, they tend to have lots of cash flow. i think moving up in quality -- [audio difficulty] makes a lot of sense. liz: it does. and it makes sense when you think about it, steve, as you're looking at which stocks to buy in a high inflation environment as the fed is trying to douse those flames of inflation with

higher rates. [laughter] it's been pretty sticky. where are the stick areas? where do you -- stickiest areas? where do you continue to see price hikes whether it's food -- because we saw some of these food companies able to institute price hikes, i'm thinking of pepsi, and people continue to buy those products. wouldn't that make sense, to buy into names that can hold to the price hikes and get people the pay that money? >> there's no doubt about that. there's also no doubt about the fact that rents are continuing to ruse which keeps -- rise which keeps a lid on the key components of the service portion of the inflation measure as well which goes to the homeowners' equivalent rent calculation. and, therefore, inflation really has the potential to become sticky at these levels even with commodity prices coming down, even with all the discussion about the supply chains having been reversed back to being normal. there's still a stickiness there, and it's coming through in terms of the labor market which i think is the critical other piece of the equation.

we're at the point in the cycle where now labor is demanding its fair share back which is why you have the strike you're talking about, why when you look at the u.k., you have the labor unrest that you have in the u.k. or in europe for that matter. even here we're seeing more and more of that union power come through and more and more of that labor power come through, and that's really an underlying problem that the fed has to address against the backdrop of a hit call environment that doesn't want them to address it. liz: oh, yes. of course, everybody wants lower rates for longer even as politicians say our hands are off of the federal reserve and what they do. michael, you were talking about is s&p aristocrats. can you give some names of some of these? anytime you google s&p aristocrats, really high quality dividends that continue to increase, you see articles like 25 s&p dividend aristocat cras to avoid. you don't just want to buy a high-dividend stock, right? >> right. there is a difference between the growers and just the high dividend yielders. and to that point, sometimes the

highest companies with the highest dividend yields, they're the first ones to cut it when things go wrong. so what's great about the dividend growers is a far fewer percentage of them cut their dividends when they go, when things are a bit tougher. now, liz, let me just follow up quickly on this last point. we also like industrials. so you're mentioning coke and pepsi. i think what's interesting is that coke and pepsi's earnings have been really good because we don't not buy them during kind of difficult economic periods. but they've been really good because they've been able to increase prices to their customers. liz: exactly. >> as inflation falls, liz, that becomes tougher and their margins get squeezed. so with industrials, youd asked for a company, deere, for example, just beat its earnings. it raised its outlook because it's going to sell more products at higher prices and raised it outlook. but for us, we like industrials also, so that'd be deere, defense companies like lockheed

martin, raytheon, caterpillar. those companies we think are kind of the next opportunity for investors in this market. liz: yeah, those are high cost products though, steve. we have cpi, the latest consumer inflation number, coming out right before the fed announcement. what are you expecting? >> well, i think there's a good chance at 0.3, maybe 0.4 at the outside -- liz: that's month over month. what about year-over-year? >> maybe we'll see a little bit of a drown draft in the -- down downdraft in the core, but we think with a 0.3% rise, you're pretty much going to hold things in change once you round things out. liz: great to see you both. is big oil the villain behind the scare tactics against nuclear power? oscar award-winning director oliver stone says yes. wait until you hear what he says his brand new documentary reveals. he joins us in a fox business exclusive at the bottom of the hour. and up next, the man who not only struck the disney's biggest

deals to buy marvel and pixar and fox entertainment, but also launched the disney+ streaming platform. what do they all have this common? the need for content. kevin maher on how he's managing content creation while hollywood writers' strike and the actors' guild may be to follow. this is a live shot of wildfire smoke from canada consuming the entire new york city skyline. and, yes, we can tell you it is the yellow in real life. but we're only going to give you clarity as best we can here at "the countdown" when it comes to the market. stay tuned, we're coming right back. ♪ not a game. not a game! we're talking about cashbackin. we're talking about cashbackin. we're not talking about practice? we're talking about cashbackin. we're talking about cashbackin. we're talking about cashbackin.

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liz: huge question marks hovering over hollywood at this hour. while the writers are now on day 36 of their strike against the studios, the screen actors guild could be on the precipice of a strike as well after voting to authorize one if a new contract with with the major studios and production companies can is not agreed upon by june 30th. with hollywood script deals at a standstill, what does the real life drama portend for content right now? joining us in a fox business exclusive, ken may if her, who served as ceo of tiktok in 2020, cofounder and co-ceo of candle media which, by the way with, has rolled up a bunch of content companies including reese witherspoon's hello unshine. kevin, great to have you. you lead a company that really provides the mother's milk that drives all the studios and streamers or, the content. what is your world like right now? >> well, first of all the,

thanks for having me on, it's always a pleasure, liz, to be on your show. liz: sure. >> it's hard. the writers have some legitimate issues that they're grappling with. there's been a massive business model shift in hollywood as we all know from the traditional linear broadcasting and the economics that go behind that to streaming and, of course, the box office isn't what it used to be. so there's been a big change in hollywood, and it's been with difficult for all of the compensatory practices to keep up with that. and i think there are a number of issues on the table. you know, the writers are an intrinsic and very valuable part of the hollywood ecosystem. they're our creative partners in everything they do, so i just hope this comes to a resolution relatively quickly. it is hard to do business in this environment, and things have come to a relative stand still. projects that were already written and scripts done, we can produce them, but, you know, more and more that's becoming scarce. liz: it's got to be weird for you, kevin, having been on the

studio side and now on the side of the actual content creators. one of their big concerns is a.i., artificial intelligence, maybe writing scripts or writing parts of scripts. where do you stand on that, and what kind of assurance do you give the people whom you work with now? >> yeah, i mean, even as a studio, in a studio role, which i am now actually this a studio role. we're a production company and a studio across all the different assets. so i'm still in the same position that i was in, i'm just not a streaming service at this point. we don't have a platform. i would say that, look, a.i. is an incredibly interesting technology. i saw a lot of that at tiktok, and a.i. was behind the delivery of and the choosing of videos for each person's individualized videos. so i've seen it in action, i've seen it work well, i've seen it serve consumers well, and i will say the generative a.i. that is

now upon us creates as well as curateses. it's a different animal. and i think to the extent it's another tool in the toolbox of creativity both, you know, for video and audio and everything else that we do. i think that can work well. it can never replace human creativity. a.i. is a backward-looking technology. it hooks at what's been done in the past, and it tries to fit things into that paradigm, and and i think true creativity comes from looking into the future, and that's something a.i. will never be able to do. they can create parts of a script possibly, augment things, it could be a fact-finding mechanism, but in terms of replacing human beings at the heart of creativity, i don't see it happening. liz: you've had such vast experiment appearance -- experience and, obviously, having been the tiktok ceo back in 2020, you you know all about social immediate ya -- social media, "the wall street journal" has dropped a story about meta. shares are dropping because the

story basically is that instagram and meta platforms help connect and propromote a vast network of accounts that are openly devoted to the promotion and purchase of underage sex content. there's been a whole investigation by the journal. you know, there were also sort of similar accusations at tiktok. how, how do you looked at something like this with your experience having been at one of these platforms to say is there any way to shut it down? >> it's very disturbing. i have not seen this article, it just kind of dropped. it is a very, very real and substantial issue. if you're at meta, instagram or tiktok, people are uploading tens of millions of videos a day, and there's a vast network of human intervention and eyes on this programming, you know, the best that can be done. it's almost impossible to completely monitor with 100% accuracy all of the new videos

that are dropping all the time, and that difficulty manifests itself at times like these where horrible things like -- it seems as if there's a pedophile network. that, that's horrible. i don't know what to say about it other than i'm sure that instagram does their best. i know that tiktok, we did. the vast volume and velocity of content that's being loaded onto a platform makes it exceedingly difficult to root out all the bad stuff -- liz: and let me just give a nod to the new york times which a couple of years ago came out with one of the most disturbing investigations i had seen about this kind of content. you know, that brings up the point of actual regulation which we can't seem to get out washington d.c. is washington scared of the big tech companies? i mean, they certainly go after tiktok but not facebook and not google. >> yeah. i think they've been in the crosshairs a bit, you know,

antitrust has been pretty active in those companies. i do believe they're focused on it. i think it's a difficult problem. i believe personally that regulation is required. i think leaving these companies to deal with these issue ises as they see fit, and i know that they make earnest and authentic efforts to curb that type of content and other types of bad content. i think short of regulation, it's very hard to hold them accountable to any standards. so i believe and i think mark zuckerberg would agree and i know the folks at tiktok would likely agree that regulation that controls how these videos are handled, how to take them down, who's responsible, where the authority and responsibility lies on that spectrum, i think it's absolutely required, and it's difficult, you know, a difficult problem to wrestle with from the regulatory standpoint, but it has to be done. liz: ken, before we go -- kevin, what do you feel is the most exciting new show that you hope you can produce that's out there that you think will be a massive hit? you're the guy behind the pixar

deal, the louis car film deal. -- dew cat film deal. -- lucas film deal. you've got the eye for the midas touch. >> selfishly, one of our hello sunshine shows, something called all-stars, and reese witherspoon is going to go to the u.k. as a cheerleading coach and coach up a squad of cheer leaders, and i think cheerleading doesn't have the same history -- [laughter] and capacity in the u.s. as it has over in england. a reverse ted has sew situation. liz: all stars. okay, we'll look forward to that considering i did not make the cheerleading squad at beverly highing. it's great to see you, kevin. >> thank you for having me on. liz: there will be no directors' strike, that is pretty much for sure because yesterday, their union, the dga, approved its

deals with the studios. coming up, the always-outspoken oscar-winning director who's ready to define why nuclear energy is the answer to so many questions. oliver stone joins us next in just a few minutes on his new documentary about nuclear energy. closing bell 35 minutes away. the dow is now the leader here, up 110 points. s&p down 12, the nasdaq lower by 149. we're back in a minute. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪

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liz: fox market alert, we do have a mixed picture, it's pretty much the same with the s&p down 12, the dow jones industrialses up 116. most of the selloff is big tech names, and that's bringing down the nasdaq, obviously, down about 148. we do want to let you know the vix is below 14 at the moment. it's at 13.81. is so pretty much extreme come play seven city -- complacency even as we are seven days away from the federal reserve announcement on interest rates. affirm surging at this point -- well, i wouldn't call 3% a surge, but it had been high higher earlier today. amazon saying merchants that offer amazon pay can she grate s dis, integrate with affirm. they'll have the option to pay over time using affirm. investors piling into affirm on the belief that the new option

will incentivize customers to maybe spend more is and, therefore, lead to increased sales. amazon down 4% at the moment. stitch women fix jumping -- stitchfix jumping to its highest level since early april after the online personal stylizing company, look at this gain, it is a $4 and change stock, but it's up 29 plus percent at the moment. stitchfix also announced plans to exit the u.k. market in fiscal 2024. jeffreys applauding that report saying they're making an impressive push to focus on profitability and free cash flow. campbell's soup, let's look at those shares, declining by 8.6% on pace for theirest percentage decline in more than a year -- largest, after the company behind goldfish, snyder's prettiesing, pa get -- spa get owes and, of course, catch bell's soup -- come on, everybody puts the mushroom soup into the tuna casserole. i speak from experience.

analysts had been expecting a boost to guy doons the back of campbell 's better than expected quarterly report. not so today. the disappointing guidance is dragging down pretty much the entire packaged food space, kelloggs down, general mills down, hormel down a quarter of a percent. from cable to film, famed director of the iconic, totally-love and memorized movie wall street is taking on big oil with his new film nuclear now. oliver stone joins us next along with charlie gasparino to talk about why atomic energy is the clean solution we've been missing all along. and the woman who came up with the solution to the question about luxury goods that are too high priced to afford has a success story think of hollywood. julie wainwright was ceo of pets.com until its pretty dramatic failure after the dot.com bubble burst. after years of unsuccessful job

hunt, she was actually told by a recruiter, give it up, you're washed up, so she diseased to leave her -- make her own ceo job and forming the real real. she just launched a new venture, a personalized nutrition company which has drawn half a billion in funding. you've got to hear julie's success story on my everyone talks to liz podcast episode, amazon, apple, spotify, iheart radio. closing bell ringing in 27 minutes. we're getting reports of smoke drifting into the new york stock exchange, so we're going to take you live there when we get back. don't go away. ♪ ♪

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>> i get a strange call from the sec, they asked to see my records. this is heavy -- >> i don't know where you get

your information, son, but i don't like it. >> michael douglas -- >> why do you need to wreck this company? >> because it's wreck bl, all right? >> charlie sheen. >> how many yachts can you water ski behind? liz: i could watch that the every day for the rest of time. famedded director oliver stone made the phrase greed is good a mantra for wall street. now he's saying clean is good when it comes to energy, specifically nuclear energy. the two-time academy if award-winning director has just released his new ifest documentary, nuclear now, which tackles misconceptions about the controversial energy source and places the blame for those misconceptions squarely on both hollywood but also big oil. joining us now, director oliver stone alongside charlie gasparino. oliver, you said there's always a lie behind every story worth telling. what lies do you say you've uncovered in your hunt for the truth about nuclear energy in this documentary? >> well, first of all, i want to preface that by saying it's

not -- i'm not a scientist. i am going off a book that i purchased and we optioned the book with, it's called bright future. it's by josh goldstein and a nuclear engineer. they wrote this book in 2019, and they explore all the nuclear history and business from the beginning to now. and that's why we went into this movie. is i'm off -- this is based on information that's coming to me, that i -- you understand what i'm saying. liz: of course. >> so it's important because i claim, i don't claim this, but this is, to me, the most accurate documentary about nuclear energy that i have seen yet. and it needs it. people don't really understand it. they all have an opinion, everyone has an opinion about everything, and they'll tell you i'm pro-nuclear, anti-nuclear, this, that, but that doesn't get to the bottom of the problem which is we don't have enough clean energy in the world. and it's a growing world, and it's getting bigger and bigger. the demand for clean energy is important. crucial.

and we find that there's a big gap as we look to the future 2030, 2040, and we examine those decades and we see that renewables, which are very -- which we're positive about, we have to be it's the sun and solar and wind -- are helpful. they're not going to close gap that, between the world that's growing, inya, africa, asia, the works. i mean, this is a gigantic global enterprise, and that's what this film addresses, the world problem. let me put it to you in one quick way, a brilliant man, he's in the movie, he says, you know, right now we have 490 gigabytes of energy, of nuclear energy in the world, okay? 490. that sounds like -- that's a lot. it's a billion -- a gigabyte's a billion. and yet he says this, he says if

we stunted that with carbon dioxide -- sub su sited that, we would have 2 billion tons of exhaust in the sky. >> it's frightening. >> so he's saying, he said, remember he said, charlie, he said this is a third lung for the world, a third lung. >> absolutely right. >> as the years go by -- i'm sorry, charlie, go ahead. >> no, i was going to say what i loved about the movie or the documently is it was just the facts, ma'am, in so many ways. >> yeah. >> yes, there was a point of view, dramatically told, the facts are dramatically told. and one of the facts that blew me away, quite frankly, is, or you know, the exact human damage done by the mistakes in nuclear plants that, you know, chernobyl, fukushima, you name it. they are de minimis if compared

to the absolute freakout over this stuff. >> i know. >> and why -- how did that happen? i mean, was it just the media being played? was it big oil plague us all? what happened there? >> it's the same way that plane crashes are more dramatic and melodramatic than a car crash, but car crashes happen all the time, more people die in cars than this planes. planes have been made safer and safer and safer, the same is true about nuclear. the more you build, the more you have, the -- it gets safer and safer and safer. and there's all kind of techniques to build a nuclear, and different countries are doing different things. the most promising country, frankly, are china and russia. they're doing the most amount. but now it's growing and korea's coming back into the game, japan is coming back into the game, and france has always been in the game, never been out of the game. it's fascinating to see -- look at the results. look at the results. you see it's been working for 50, 60 years, nuclear. there's been one serious

accident, and that was chernobyl. we explain that in detail. there was no -- >> right. blew me away, the way you explained that. and you know what else? in new york city right now, got to see our sky, wildfires. this is all contaminating the environment -- >> cha's a key part. >> even if you don't believe in climate change, we have a health problem, and that's, that's pollution. and this deals with it. and if that's another thing you brought up brilliantly, i thought. >> yeah. approximately 4 million people die a year from pollution, 2 million in industrial accidents, at least 500,000 from coal pollution. so, i mean, the figures on chernobyl are 50 dead at the site, the first responders. they were not proper orally -- >> right. >> -- equipped. and they're estimating that's what the u.n. and world with health about 4-5,000 died from cancer from the low-level radiation that was in the air for, over northern europe at the

time. all in, you know, compare this to the deaths from a gas explosion in india where 18,000 people were killed or a hydroelectric dam in china crashing in 1975, you know, 250,000 people dead. we have to be honest about this in order to save ourselves as a planet. liz: agreed. >> and we're not being honest. all i see in newspapers is when they mention nuclear are, they say and the dangerous of nuke lark -- nuclear. well, let's be -- liz: right. well, as charlie put it, de minimis. not de minimis, and and i do have to ask you this because it is, obviously, the news in the last 24 hours, oliver, is that the dga, the directors guild of america, has struck a deal with the studios while the writers are still struggling to get some love and attention or at least a meeting. what is your thought about that? >> i'm not inside the negotiations. i know do -- i'm very happy the dga settled with it now, but,

you know, i am also a writer, is so i'm a writer-director -- liz: exactly. >> and i support the writers because they have really been, they're the heart of the industry. i mean, they create this material, and they have not, i don't think they've been fairly dealt with. and think we have the change this. it's going urn -- they'll win this strike. they'll come to a good place, i think. liz: that would be wonderful. thank you. thank you so much. the new documentary is called nuclear now. >> and it's a must-see. it's a must-see. liz: yeah. >> it's non-ideological. peter thiel's in it, both sides of the story. this is, this is real documentary making, in my view. whatever that's worth. [laughter] >> thank you. liz: thank you, oliver. oliver stone. and, charlie, thank you so much. coming up, here to react to oliver stone's nuclear push is the always-opinionated kevin o'leary who has invested in oil. closing bell, 13 minutes away. we are come coming right back. dow jones industrials still holding on to gains of 95

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to a air quality level of 392. that is now considered hazardous. we had it an unhealthful. we're at hazardous along with newark, new jersey, and albany. this is a live picture of new york city and lower manhattan. you can barely see the skyline. it's a shocking situation. i can fully explain to you that it is yellow. if you step outside the air is yellow and it smells like burning wood. it is also enveloping the new york stock exchange. trader teddy weisberg is down there. teddy, what is it out like there? >> inside is fine, liz. outside sort of like 9/11 revisited. it is toxic. you can taste it, you can smell it and it is not a lot of fun. a lot of folks are walking around with masks on. liz: it looks like that. i tell you something, we're very concerned. as you continue to watch the airports, you watch the airline stocks as well. there was a pause, there was a

halt to incoming and outbound planes at laguardia and a slowdown out of newark liberty air period of time. those were since lifted by the faa they could be dropped on all of us once again. teddy what are you seeing with the markets quickly? >> today is kind of interesting. the techs are flat, sold off. broader markets are doing quite well which will bring smiles to a lot of faces t has all been all about the techs seems like for weeks and weeks but it is good to see, see the positive enthusiasm spread to other sectors and i think basically at least in the short term it's good sign for the market. >> teddy, keep that mask on when you walk outside, my friend. thank you very much. it is like a barbecue outside. that is what it smells like. let's bring in o'leary ventures chairman, kevin o'leary, of course "shark tank" star, reacting to legendary director oliver stone's nuclear now.

you invested in refinery. you are team oil. you announced in april on fox business invested with plans to build a massive oil refinery here in the u.s., you estimate will bring in how much money. >> the way i look at it as sovereign wealth does there, are trillions of dollars available for 11 to 15% returns. we're looking for infrastructure. we need 20, 30, 40 year returns on these big investments. you heard oliver say this. you can't fill the gap with renewables. he is right. everybody knows that what i like the presidential hopefuls talking about policy, energy is at the top three, energy security, energy sovereign, all of the things, independence, all the energy policy momentums is good for me as an investor, very good. if i want to deploy say two billion dollars in a new refinery, you can make them, liz, under 50,000 barrels a day and not exceed epa limits. states like north dakota, west virginia, oklahoma, down in

texas now, these are places where sovereign wealth can come in. we can syndicate the debt, we get the equity and get 11 to 15% in almost perpetuity because america needs energy. i agree with him, if i could get nuclear power permitted which is really, really hard that would be a very good idea. i say you need all of these sources. you need wind, you need solar, you need hydro, need all of that. i say where can i take my capital to make 11 or 15%. it is in america and as long as i can get a permit. i'm encouraged by his message. liz: the very first nuclear power plant in 20 years here in the u.s. is coming online sometime in georgia. we'll watch for that. watch for your refinery. both are hard to get permitted. i need to ask you about crypto. you had exposure to ftx. now the sec filed two major lawsuits one against binance and

one against coinbase. >> i read all the charges, read the both complaints. they are two different complaints. binance is really, really serious. liz: commingling of investor fund. >> directly charging the founder who is a entrepreneur who created a lawless environment what the sec is complaining. this they have been war with each other over three years. what i said as ininstitutional investor now, time to lay down the olive branches. it is clear the ceo of coinbase which mass lost 70% of its market cap since the ipo, gensler is razor clear what he wants. he is basically saying, let's take one asset everybody knows. he is calling bitcoin a security. he wants to regulate where you trade it like a broker-dealer exchange and he has no flexibility. now one of two things should

happen. if you're a shareholder, or a board member of coinbase, i would swap leadership. i would get a new person to run it and to back into the staff to say we got to work this out because the whole industry has been stymied for three years. we'll never get capital appreciation until an institution can invest. i talked to sovereign wealth, talked to institutions in the last 48 hours, you know what they said? this makes this asset class radioactive waste. we're not touching this until this thing is resolved. here is a company that can resolve it. they claim they're the leaders f the leader of that company, i'm not pulling any punches if he was working for me i would fire him, get somebody else. liz: talking about the head of coinbase? >> yes. it is over, so over almost getting boring. gensler told him countless times no, no, no, no and no and everybody hears it except him. maybe what you do, you thank him for his great work as pipe near -- liz: you're supposed to do that if you want something done in washington. >> you take him outlined the

barn, you make the swap. you get a new ceo at coinbase say, let's make a deal. look at this way, walk in, okay, gensler, you win. let's regulate, can you will it a security. you get trillion dollars of assets for allocation of 3% with sovereign wealth. could you open the spigots. you could make the industry take off to own it domestically. read the tea leaves, read the room. listen, read gensler's lips, the answer is no, no, no. you got to listen to that. you can't beat him. liz: until that happens where is much easier win for yield, for investors who are watching right now? >> you can go to canada, you you can go to london, you can go to zurich, can go to abu dhabi. most of us don't want to do that. i moved mine to canada. osc securities commission, owned a license to bit buy, one i own a piece of, they are operating

under legislation. they are very restricted what tokens can get on the platform. that is what gensler is saying. i will approve some, let you stake, that is interest, capital gains, capital losses. >> are you going to watch oliver stone's document, nuclear now? >> i am. i love the message. i love that guy. wall street is, greed is good. i know how to say that, greed is good. liz: but i love charlie sheen's dad in that, you don't judge a man by his wallet. here we go. [closing bell rings] the dow is climbing just under 100 points we hear the bells ring. industrials and energy propelling the index. nasdaq down 1%. tech drags it all down. that will do it for "the claman countdown". ♪. larry: hello,, welcome to "kudlow," i'm larry kudlow. the 2024 presidential election