by the way speaking of taking their job seriously did you see the security guard? let's do the slam the fellow canadian golfer. everyone out there was pumped the first canadian to win so he's running out there with a bottle of champaign. in the era of people always complaining about their jobs where people do their lazy monday thing and refuse to work, all this sort of stuff it is refreshing to see scenes like this over the weekend. even if it was an overzealous security guard. the bottom line, folks, is go out there, try your best, excell , and what we learn over and over again, and a lot of times you learn from sports is that you just stay in the game. you just stay in the game. overnight success, does not come overnight. although different for liz claman. right, liz? liz: [laughter] yeah, took a lifetime to be an overnight success. he was not overzealous. he did exactly what he was supposed to do. charles: yeah, yeah, i mean, i gotcha. listen, i probably give him a raise, but that was a crazy

scene. liz: it's insane. thank you, very much, charles. we begin with breaking news. you guys, the s&p is on track to close above 4,300 for the first time since august of last year. we've got 59 minutes left to trade. the bulls are rounding the bend at the final mile and right now have pushed the s&p. we're looking at 27 points above the 4,300 mark, but perhaps the analogy should be sailing versus running because it's the cruise lines helping the broader index speed toward the target. look at the three big ones carnival, norwegian and royal caribbean all hitting 52-week highs and with 13% leap carnival is topping the s&p 500 leader board. norwegian is not far behind up 7.8% as it climbs as you see we've got royal caribbean up 2.25%. so, why the cruise lines? jpmorgan and bank of america generating the optimism saying today that demand momentum and liberal on board spending

indicate clear skies ahead and summer occupancy returning to historical levels for the cruise lines but look at the overall markets. dow jones industrial up 115 points after clocking its seven th winning week in a row. the nasdaq is up 159 points let's see what's leading it here you have broadcom, airbnb, intel , adobe systems, palo alto networks and remember, we should point out the stock of nasdaq, we're talking about the exchange operator ndaq is floundering this hour down 11.7% and nearing a one-year low. one-year low be $48.06 we're at 51 and change after making the biggest acquisition in history. the stock dropping on fears that nasdaq perhaps maybe over paying , for financial software firm adenza, the price $10.5 billion in cash and stock, which works out to about 31 times estimated ebitdar, or earnings before interest, taxes , you know, depreciation,

amortization, this year. it is owned by private equity outfit toma bravo which gets 14.9% of the nasdaq outstanding shares as part of this deal. investors don't love it at the moment but nasdaq ceo adena friedman is steadfast in her mission to broaden nasdaq well-beyond an ipo listing operation. regardless, s&p ratings firm downgrading nasdaq, inc. to triple b. the agency says nasdaq's plan to raise close to $6 billion of new debt to fund this purchase will weaken nasdaq's risk profile. folks we are also watching bond yields ahead of what wall street sees, as the most important wait for the financial markets in more than a year. tomorrow, we get the very piece of inflation data that will then drive the big federal reserve interest rate decision just a day later. may cpi, consumer price index, specifically consumer inflation, and i'm talking about the core cpi, which excludes volatile food and energy prices, will

take center stage. again, out tomorrow morning, when the fed's two day policy meeting kicks off tomorrow as well. expectations for core cpi, to rise four-tenths of a percent month-over-month that be no change from april and 5.3% year-over-year, barely. i mean just down slightly from the prior month of 5.5% year-over-year. fed chair jay powell & company insists their inflation target remains all the way down to 2%, so there's still quite a gap between two and well let's just call it 5% but the market doesn't care. guess who should? you. to the floor show and two of our favorite traders teddy weisberg and dutch masters. all right, teddy. like shingles the market doesn't care, but very important that everybody watching understands the momentum that we see with say the s&p 500, goldman sachs just raised its s&p target to 4,500, so, do you want to fight the tape or go all-in? which is it?

>> well, i guess fighting the tape has always been a mistake just like fighting the fed, liz, has always been a mistake but i'm not quite a believer. i think there are plenty of alternative resources for funds that you don't want to put at risk, but i would agree. the tone of the market is improving. the whole trick is will we get away from the few stocks that have been leading the parade these big tech stocks which have basically been at the head of the parade now for the last 10, 12 months and will the strength spread out to the other stocks? now the s&p is acting relatively decently and we've left bear market territory, but in the s&p , of course all these large high-tech names which basically have a big percentage influence on the overall average the dow pretty anemic. can't seem to get out of its own way but you know, people say well the dow is not representative of the broader market. liz: it's 30 stocks. >> right but the fact is if you look at the long term charts of both the s&p 500 and the dow,

they pretty much track each other overtime. liz: could i just make this point and dutch, we're looking at apple. i don't know if we can pull up apple. it's on track for a record close apple is one of the stocks, those five or six that teddy just referenced that have really been what's lifting the market, some people call then the microsoft, apple, netflix, nvidia for example, one of the n's, nvidia has been great, alphabet, google, so, tell me, are you in the camp of i don't believe it quite yet like teddy is? >> oh, no. actually, couple of weeks ago, trader z, our resident genius and myself, were strategizing and looking at the charts, and we really started to see that the tone of this market was really coming together, and we thought that hey, this thing might actually break out and as you recall last time i was on , i said that i think that the tech stocks were going to drag the s&p up and that's what's happened. liz: well, yeah. if you look at year-to-date, s&p

far outpacing, right? far outpacing or sorry, nasdaq, up 28% year-to-date for the nasdaq. then, you flip it over to the s&p and it kind of follows there , dow as teddy mentions is sort of a laggard but you're saying no. just go with it. go with this flow. are you shorting? you've always had shorts when you come on this show. >> no. i know, you know? we've started going long early in the year. we really did a couple of tactical shorts but we have not been short most of this year. we're up around 86%. you know, we had a decent month, 18% last month. we're up about 3.5% this month already, and i've got to tell you. we really like what we see and we do see this thing broadening out. the financials are coming back. the regional banks are calming down. we may have a hiccup here and there with that but i'll be honest people don't seem to care

about anything that's going on out there. the reality is, you can point to 20 things to be negative about but this market is going up and people are coming in and they're putting money to work. you got a nasdaq -- liz: back back to shingles doesn't care. >> [laughter] liz: teddy, the vix, oh, my gosh , the vix let's call it the no-fear index. it may be slightly higher today but down 32% year-to-date, so that to me is a slight, i mean i'll give you this , a slight danger signal, too much complacency, but i mean, short of a black swan event what's going to bring this -- >> i don't think we have too much come place answer it because there's a lot of people uncomfortable and still on the sidelines. liz: but they are losing money, teddy. >> well, you know, but you can make an argument that no risk is better than risk if you have exposure that's not going to work, because you get away from these large tech names and there are hundreds if not thousands of

names. the market breadth is basically negative. i'm not suggesting that butch is wrong and quite frankly we're closet bulls because we still own plenty of stocks. the problem is we have been reluctant to put new money to work in any new names because so far, anything we've touched have clearly quite frankly not worked liz: well what about treasuries? you have loved treasuries. i call it party of five. there are five different durations of bonds between one month and one year that are all yielding 5% or more. >> that's correct. today the three-month is 5.303, the six-month is 5.38 something, and we bought them again today and we'll continue to buy them with the excess cash, but also, it's a good trade for folks that's quite frankly don't want to assume risk in a market that still has a lot of unknowns. now there's another thing that we haven't talked about, because if the markets right and we never fight the tape, it's

telling us that the economy is probably doing okay. corporate america is doing okay, which means what the fed is doing has had no impact so far. liz: yeah, well, because -- >> so what are they going to do with rates going forward? liz: again, you guys i am telling you this is one of the most important weeks in a year. more than a year because its been more than a year that the fed has continued to raise rates. we will find out if they will do it again on wednesday. the market pricing in a pause at the moment. dutch, as teddy is talking and saying i'm not so sure, we're getting session highs on the s&p 500 and the nasdaq. right now we've got the dow up 143 points high of the session for the dow it's a brand new session high here, so we're looking very strongly at some of these names. what are you buying? give me something beyond just the broader market. >> yeah, so we got a solar stock nxt that we bought it's called next tracker that was an ipo earlier this year, and it has no overhang, okay? everybody in that stock is making money, and if you think

that solar is coming back which we think it is and we think solar is very real, then, you know, you don't want to own any of the other stocks in the solar sector because these guys have nothing but blue sky above. the other thing that we're buying is altr energy. i mean, engineering, sorry, altr this is an infrastructure play, with a technology twist to it. high performance computers, data analytics, artificial intelligence, and a very powerful engineering platform, and so those are two stocks that we recently put on the platform, and if you look at what's happening in terms of broadening out, okay, adobe goes up 20 points everyday. okay? if you look at, you know, these stocks that have been blasted and beat up like clearfield, for example, clfd, this is a stock that got blasted, okay? but these guys are coming off the bottom really hard and really aggressively, so it is

broadening out. some of these stocks might be way down off their highs like adobe, for example, but i mean that stock does not want to stop liz: all right, just watching this market, sorry i've got one eye on what we are seeing here and another session high for the dow jones industrial up 150 points and it is very important to watch the s&p, because now it's up 33 points, it's 43, 032 with about 49 minutes left to trade, so, everybody. you've got to watch. first time that we will have closed above 4,300 if we can hold these gains since august of last year. teddy, dutch, my thanks to both of you. dutch, look at you all casual. dutch is in vegas and you're stuck here with me. >> i'm sorry and i called him butch. he could be butch, he could be dutch. whatever he likes. liz: he's our dutch. we love our carnivore guys, big kisses to the traders out there in vegas thank you, guys on this 12th day of june, summer hasn't officially begun yet, but

summer-like temperatures are starting to kick into the high fahrenheit gear. up next, the stock that's already gulping down some cool gains. the ceo of celsius, the wildly- popular energy drink brand, that's energizing celebrities and investors is here with his plan to keep the stock which by the way has jumped 126% over the past year. sizzling. how's he going to do that? uh-huh, we'll see , closing bell 48 minutes away and we do have gains all across the screen. lots of strength here on this monday. stay tuned, the "clayman countdown" is the place to be. we're coming right back with the ceo of celsius. ♪ ♪ 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? ♪ ♪ i think this is it guys? when the martins booked their vrbo vacation home, they really weren't looking for much: a patch of grass for bruno, a pool for first-timers, don't worry, i've got you. and time with each other. and when they needed support, someone was right there. i got you. because what's unique about a vrbo is you can reach a real person in about a minute. ♪ the chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours!

with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the ink business premier card from chase for business. make more of what's yours. - representative! - sorry, i didn't get that. - oh buddy! you need a hug. you also need consumer cellular. get the exact same coverage as the nation's leading carriers and 100% us based customer support. starting at $20. consumer cellular.

i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right? oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network.

liz: the energy drink wars are heating up as americans try to get that summer beach body on. comedic actor and director joan a hill whose been on a weight loss kick has publicly credited much of his newfound energy to caffeinated beverage maker celsius. hill has become such a fan of the zero-sugar vitamin-packed brand he says he's gotten everyone from jennifer an iston to guzzle these. investors are in turn gulping them down and the stock specifically up 38% year-to-date it has gained 55% this quarter alone, and now, sports a market cap of nearly $12 billion. how will this company keep the momentum going? well let's go straight to the top. joining us in a fox business exclusive celsius ceo john field ly. john let's start with your wild first quarter sales of nearly what $260 million. that's almost double the same quarter last year. if you could point to one thing

that's made the difference here, what was that over the year? >> well it's really we partner with pepsico back in october and started distribution last year with them on a national level and we've gained over a 95% acv, so we're at about 90% of stores that are reporting out there. its just been really robust and we bring great energy drinks to market, one of the most refresh ing energy drinks and really transformative for the quarter. liz: let's talk about what's in them because they are marketed as healthy. i started to look. zero sugar is always for me but how do you get the sweetness because i'm looking at a flavor called sparkling mandarin marshmallow. what is the sweetener, let's talk about that because people are jumping on board, especially at a time when they are looking for healthier options. >> yeah, we have a stevia line and sucralose line and also what makes us differentiated is our seven essential vitamins, green tea, ginger, chromium biotin and

vitamin c in the product so really differentiated no asparta me, no high fructose corn syrup so great choice and one thing we went hands down on is the flavor profiles with a strawberry lemonade great for summer and you have our peach vibe up on the screen. liz: well, it's the flavors but again, you point to the pepsi partnership. let's talk about that, because the energy drink wars are very much in full force here. coca cola has backed monster. that has been obviously a big competitor. how are you looking for the current quarter? is it going to look as good as the first quarter? >> well, we don't provide forward guidance but what i will tell you. we're the number three energy drink right now and over the last 52 weeks and in accordance to iri which reports retail sales we've sold over $1 billion of celsius at retail so really an exciting achievement for the company and all of our team members and for our investors as well we're excited for the year.

we think we got great momentum coming really into second quarter and also we're just entering the 100 days of summer program where we got a lot of activation from the hamptons all the way to southern cal, and in between so a lot of fun things to do this summer and keep everyone energized with essential energy which is celsius. liz: i'm a hockey gal. absolutely love it. you guys sponsor the florida panthers which oh, amazingly enough are in the stanley cup finals. you must be absolutely over the moon, but what other partnerships are you looking at because i know that of course you have boxer i guess he's 6-0 jake paul is a brand ambassador but when it comes to teams you want to be in other major league sports? >> yeah, we're involved in a lot of different sporting events all the way from surfing, partners with colleague race and a variety of other race teams and nascar, jake paul also m & a fighters, and great athlete of

ours. you know, one thing about celsius which i think is unique, you know, we're really about that essential energy and living fit and that goes in our dna and living fit inside and outside the gym and that's what we're seeing, great opportunity is all around and no crash no jitters. we hear all the time on the product so really a great choice when looking at a little pep in the afternoon or drink it before your workout. liz: well, i'm going to try that actually today with this mandari n marshmallow but in january, you were ordered to pay more than $80 million to the rapper floor id a who said you handheld up your end of the agreement as he promoted the drink in the early years of this company and now he's launch ing a competitor another energy drink called jet set 1. when you look at what started as a very small idea, at your own company, how do you view other competitors entering the space? >> yeah, well, we're in appeal on that.

we think we're vigorously appealing. we think we've got a great outcome on the end, and he mentioned he's coming out with a new energy drink. we wish him the best of luck. competitors come out everyday. it's a highly competitive category. it's very difficult to build brands in the consumer space, especially as you mentioned celsius being the number three energy drink brands. when you look ahead we have two big monsters ahead of us and highly competitive, so one thing we do is stay really focused true to our consumer, true to our core, and stay focused on what we have to do each day and bringing new consumers, great innovative flavors and building great brands is what we do. liz: well if i can look like the gal we just showed in the bikini, from drinking this , um, i've gotta try it. thank you. [laughter] john great to have you, and we love watching the story. it is a big momentum stock here. the fact that you have about a $12 billion market cap and or 11 and it was just a year ago,

i was looking at some of your internals here it was a year ago you were at 5 billion, maybe even less, so quite a huge amount of growth, so we'll continue to watch it. thank you. >> thank you. liz: a stab in the heart of a major east coast artery as a major interstate near philadelphia that funnels 150,000 vehicles everyday, 14,000 of them trucks, literally explodes. we have a live report, and venture capitalist royalty tim draper joining us in just a few minutes. the staunch crypto bull will give his latest target for bitcoin in the wake of the sec crackdown on digital asset companies. closing bell 37 minutes away. folks we've got a roaring monday here, the dow up 164. 33 point gain for the s&p 500. we've got the s&p now at 4, 332 and we look to close this session above 4,300 that be the first close above 4,300

since august of a year ago. stay tuned we're coming right back. (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back. so you can live your life. that's life well planned.

i got into debt in college, and no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with low low fixed rates, and borrow up to $100k. sofi get your money right.

ah, these bills are crazy. she has no idea she's sitting on a goldmine. well she doesn't know that if she owns a life insurance policy of $100,000 or more she can sell all or part of it to coventry for cash. even a term policy. even a term policy? even a term policy! find out if you're sitting on a goldmine. call coventry direct today at the number on your screen, or visit coventrydirect.com. ♪ (upbeat music) ♪ ( ♪ )

( ♪ ) ( ♪ ) -awww. -awww. -awww. -nope. ( ♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. somebody would ask her something and she would just walk right past them, (laughs). she didn't know they were talking to her. i just could not hear. i was hesitant to get the hearing aids because of my short hair. but nobody even sees them. our nearly invisible hearing aids are just one reason we've been the brand leader for over 75 years. when i finally could hear for the first time, i could hear everything. unlock our best deal of the year during our 75th anniversary sale. call 1-800-miracle today. i've spent centuries evolving with the world. 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. your strategic advantage. liz: fox stock alert. we have tesla on track for a dozen. that's right it's on track for its 12th winning session in a row. this be a record win streak. if the stock does close higher right now, it is up two full

percentage points to $249.65. if it closes higher for the 12th consecutive session that be longest string of gains all the way back to when the ev maker went public. all right, oracle stock trading higher ahead of the release of its fiscal fourth quarter results after the bell. wolf research upgrading the stock from peer perform to outperform and set a price target of $130 a share. oracle is 117 and change right now up 6.5%. by the way there's been a volume spike right now, so at session highs for the moment for oracle. the firm says oracle's cloud business is well positioned to takeaway market shares from rival amazon web services, microsoft azure and google cloud illumina shares are jumping after the company announced the resignation of ceo francis d esouza effective immediately. shares up 3.8% at the moment. the dna sequencing company named charles dadswell, senior vice president, as interim ceo.

yes, this is the company that's been locked in a heated battle with activist investor carl icahn over its $7.1 billion acquisition of cancer test maker grail, and of course, desouza income making off the company. he was a 1.4% stake in illumina has been urging shareholders to vote out its chairman john thompson as well as desouza. illumina shareholders voted him out on may 24 and carl icahn is happy about the departure. icahn enterprises up 4% on this perceived win. reports are swirling that the federal trade commission is seeking an emergency court order to block microsoft from closing its $75 billion acquisition of video game maker activision blizzard. this after the ftc sued to stop the deal back in december, saying it would give microsoft unfair control of the video game industry. even though microsoft has come out and said it would make all

of the big activision blizzard games available to all handset models. activision blizzard down about two-thirds of a point on the news. microsoft up about 1.25%. we should let you know that fedex and ups shares both moving higher after issuing updates after that tanker fire caused an entire section of roadway on philadelphia's interstate 95 to outright collapse. the shippers say they are making adjustments to their operations as officials predict the stretch of highway which is a key artery between philly and new york city could be closed for months. let's get the latest on the scene from philadelphia. fox news cb cotton. cb? reporter: hi, liz. pennsylvania state police confirming to fox news not long ago that human remains have been found at the crash, at the collapse site, i should say here at i-95. take a look behind me. we know that troopers are now

telling us that the trucks driver was going northbound on i 95 and lost control of the vehicle while trying to take an exit ramp. the crash rupturing and igniting the truck's tank. details on who the driver was will come from the medical examiner. today federal officials including democrats, u.s. senator bob casey, and u.s. representative brendan boil touring the collapsed site. both men emphasizing the importance to demolition work which begins today by the way, saying that it's necessary to get it done so rebuilding can get underway as soon as possible. i 95 is now closed in both directions here in northeast philadelphia. the tanker truck was carrying 8,500-gallons of gasoline fuel when it caught fire under the overpass early sunday morning. the fires heat caused a portion of i-95 northbound lane to crash and this compromised the southbound lanes too. investigators say the truckers company has been cooperative and right now, there are no plans for criminal investigation. get this.

some drivers felt the southbound lanes start to buckle moments before the northbound lane collapsed. state leaders say they are looking to rebuild quickest but safest way possible. u.s. democratic congressman brendan boil is saying it's vital to get this job done soon. >> i dare you to find a more densely populated 40 or 50-mile area around 95 that right here where we're standing, so people are going to be impacted from new york city to well south of here. reporter: and liz, governor josh shapiro says an early timeline indicates it's going to take a number of months to get this thing repaired. back to you. liz: goodness gracious. thank you very much. we appreciate the report. hucksters and fraudsters are some of the words securities and exchange commission chair gary gensler just used last week to describe the crypto industry.

bitcoin backer and silicon valley og tim draper joins us live, next to respond to gensler 's, oh, yeah can't wait to hear what tim has to say plus drapers take on the market ahead of the federal reserve decision wednesday. closing bell 26 minutes away and yes, here we go the s&p right now still on track for its first close above 4,300 since august of last year. it's a metric, we're going with it.

♪ i have type 2 diabetes, ♪ ♪ but i manage it well. ♪ ♪ it's a little pill with a big story to tell. ♪ ♪ i take once-daily jardiance, ♪ ♪ at each day's staaart. ♪ ♪ as time went on it was easy to seee ♪ ♪ i'm lowering my a1c. ♪ jardiance works 24/7 in your body to flush out some sugar! and for adults with type 2 diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. jardiance may cause serious side effects including ketoacidosis that may be fatal, dehydration, that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare, life-threatening bacterial infection in the skin of the perineum could occur. stop taking jardiance and call your doctor right away

if you have symptoms of this infection, ketoacidosis, or an allergic reaction, and don't take it if you're on dialysis. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. ♪ jardiance is really swell, ♪ ♪ the little pill with a big story to tell. ♪ - [soldier] take a look at this! - they've left us a gift. - [soldier] i think we misjudged them. - i love horses. (birds chirping) - [soldier] we should open the gate. - let's see what charlotte thinks. - [narrator] at crowdstrike, we monitor trillions of cyber events to detect threats and prevent breaches before they happen to keep your business from becoming history. we stop cyberattacks. we stop breaches. we stop a lot of bad things from happening. crowdstrike. protection that powers you.

- "best thing i've ever done." that's what freddie told me. - it was the best thing i've ever done, and- - really? - yes, without a doubt! - i don't have any anxiety about money anymore. - great people. different people, that's for sure, and all of them had different reasons for getting a reverse mortgage, but you know what, they all felt the same about two things: they all loved their home, and they all wanted to stay in that home. - [announcer] if you're 62 or older and own your home, you could access your equity to improve your lifestyle. a reverse mortgage loan eliminates your monthly mortgage payments and puts tax-free cash in your pocket. call the number on your screen. - why don't you call aag... and find out what a reverse mortgage can mean for you? - [announcer] call right now to receive your free no-obligation info kit. call the number on your screen.

liz: is the future of crypto not here anymore? in fact is it going across the pond? and recent is opening up its first international office in london to be the home base for its new crypto accelerator program. the vc firms move comes after coinbase and binance were both slapped with lawsuits from the securities and exchange commission that claims the companies violated the law

by among other things, operating a securities exchanges without registering their businesses with the sec. sec chair gary gensler excoriated the crypto industry at the fintech conference last week saying " we've seen this story before, of what we had in the 1920s from the federal securities laws were put in place." hucksters, fraudsters, scam artists, ponzi schemes, the public left in line at the bankruptcy court. so, what does one of crypto's biggest bulls think of sec chair gensler's outcries here in a fox business exclusive billionaire venture capital royalty, drape era sos yachts founder tim drap er. hucksters, scam artists it's like that scene where the cop gets up on to the witness stand and says he's a new york coming intellectual bad apple but i don't want to cast nothing. what do you make of his comments

here? >> you know, weak regulators spread fear and strong regulators spread opportunity, and i think we've got a real problem, because the sec has been spreading fear and all of the innovators are leaving the country, and there's a huge problem we have. this regulation by enforcement makes no sense. we want the great technologies to stay in the u.s. and they are all going to dubai and singapore and northern europe and south america and all over the world, and that they are all saying oh, it's all about the test that was 80 years ago and it has no relevance to crypto. i think crypto needs to be regulated in a new way from a new group, and what's america

going to look like in 40 years? it's going to be a total waste land. there's going to be no technology. look. crypto is coming. a.i. is coming. what is this spreading fear about these new technologies? they're great for us. i mean, new technologies we've got smartphones, we've got tesla s, we've got all these amazing new technologies. we have the internet. all these things happened because the regulators had a light touch. liz: well, can i just say, tim, that if i were channeling gary gensler, he would say my job is to protect investors and already , some investors have been left holding the bag. for example, some who are still waiting on getting remunerated for their ftx money from sam bankman-fried's collapsed

endeavor so isn't there a middle ground? >> well look if there is fraud which i think there probably was in ftx's case, you've got a job to go do. yeah, but that doesn't mean you just start shooting randomly at any company that has anything to do with new technology. it makes absolutely no sense, and sure, there are certain, there are going to be certain people who are doing things that you clearly don't want to have done in the u.s.. we all have to play by a certain set of rules. we play by those rules. we always believed in those rules in the u.s. , and now, it's like we don't even know what the rules are but somehow he can enforce whatever he wants any time he wants. that is just going to drive all of the innovation out of the country and it makes no sense at all. i mean, he is damaging our country if he's going to do this sort of thing. coinbase, all they wanted to do

was abide by the law. they kept writing the sec. what can we do here? what can we do here? sec went ahead and let them go public and somehow, now, they are sitting there going oh, now you're violating things. liz: although, how do you see the lawsuit against coinbase specifically playing out? because we had kevin o'leary here, of course the shark tank star, and he's a big or was certainly, maybe a little bit less so because he's got some ftx exposure, he's not happy about but he had said you know what? this ceo, i believe it's brian armstrong, he's fighting the sec stop it now. i would fire that guy. that's what he said about the ceo, and he said you just got to kind of take the wrap from the regulators and work with them and move forward. how do you see this ending? >> i don't think that's healthy i think look, brian has done

everything right. he's done everything according to the books. he's got a new innovation. it's bitcoin and crypto and all of these amazing things that are going to completely transform a global economy. we're going to see extraordinary things come out of these whether it happens in the u.s. or not is really going to be determined by what happens with our regulators and i think our regulators are acting way out of line. i think that it's time to reign them in. liz: i like what you say. >> their job is to come up with good regulations we can all abide by and if there's a new technology, you need new regulations. you can't sit there and go oh, yeah we have regulations for this 80 years ago. we didn't have crypto 80 years ago. it makes absolutely no sense that we're doing this. liz: well there's also a lot of

chatter -- >> he's saying oh, you know the regulators, let's let them do what they got to do. i get that. it's sort of putting your head in the sand. liz: there are a lot of, there's some chatter, tim, about regulating another sort of insip ient stage industry and that be a.i. are you investing in a.i.? where do you see this going? >> oh, my god. a.i. is going to be the most extraordinary industry. bitcoin and crypto are completely able to transform banking, insurance, real estate. i mean it's going to improve government. it's going to improve so many things and similarly, a.i. is going to transform the way we educate people. the way we think about things. the way we operate. all of the mundane tasks are eventually going to be taken by a.i. so humans can move and make

a leap forward. it's going to be amazing, but boy, you can't regulate that out of your country or you lose all of the innovators. liz: what are you investing in right now? >> oh, a whole variety of different things. we invest in the transformation of healthcare to digital. we invest in space and transportation. we invest in companies that are as well as a.i. and crypto, new forms of technologies that are going to move bitcoin forward. we have, we're investing in brain computer interfaces. all sorts of things that sure, they are scary to think about until actually we're using them, and then everything is great. liz: that's the thing about a.i. i'm sorry, that's the thing, i'm going with all of these initials venture capitolists. you are the risk takers. you're the real capitolists out there who give money when you

see opportunity. you have often told me over the years, you say you know what when i give money to a start up company, i almost kiss it goodbye because you just never know what's going to do well. you were an early investor in tesla. that was just an absolute winner for you. you've been the first to say you had a few losses. theranos being one of them, elizabeth holmes was sentenced to 11 years in prison and she just arrived a couple weeks ago in prison and will spend those 11 years unless she gets early release. as you look in the rear view mirror, were you close enough, is this something where you think this was an unfair sentence or do you feel that you were close that you'd go visit her in prison? what is how you view this? >> well yes, i think it was unfair, and yes, sure, i'll visit her in prison. i think the enforcers in

washington, this heavy-handed enforcement in washington saying everybodies to blame is a huge mistake. the great leaders are the ones who trust their people and set them free. the weak leaders are the ones who try to control everybody and tell them they are all doing it wrong. it takes a lot. it takes a real personal confidence for a leader to say look, i trust you to do the right things. you're going to live up to my trust and you're going to build whatever life you need to build, and that turns out to grow the economy at somewhere between 8-10% and if you have a control command and control government that tells everybody what to do, that shrinks the growth rate to almost zero. you know, you see what's happened to china. they went from a free market economy to a command and control

economy and it's going flat lined. you look at north korea. they are all control and they have all the regulators telling everybody what to do and it's all enforcement. you know? it's all regulation by enforcement and what are those people living like? they are starving. you've got to set your people free. i don't understand why we have this , we're even allowing this sort of like, you know, you must do this kind of government. that's a very ugly -- it's ugly, it scares me. i lived my life here in america and i've been able to travel around the world, and i'm starting to see other countries look more attractive. liz: tim, it is great to have you and this is important perspective, especially as these new developments, these brand new sectors are popping up and

we don't want to kill them because they are job creators. sure we want to ring fence the bad actors but i'm with you on this. thank you so much for joining us tim draper, we are coming right back, dow jones industrial now up 173 points. we are pretty much at session highs for most of these indices. we've got the s&p up 36 points, stay tuned. we're coming right back. chevy silverado factory-lifted trucks. where will they take you? with the capability of a 2-inch lift. ♪ the versatility of the available multi-flex tailgate. ♪ and the connection of a 13.4” diagonal touchscreen.

chevy silverado. taking adventure to a whole new level. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones - this is our premium platinum coverage map and this is consumer cellular's map. - i don't see the difference, do you? - well, that one's purple. - [announcer] get the exact same coverage as the nation's leading carrier. starting at $20. consumer cellular.

♪ dads are special. fun. inspiring. always there for you. so make father's day extra special with gifts he'll love from weathertech. floorliners... cargo liner... seat protector... sunshade... ready-to-wash system and cupfone.

or our newest product, the golf cart mat. order these american made gifts or a gift card at weathertech.com have a very happy father's day. ♪ ♪ every day, businesses everywhere are asking. is it possible? with comcast business...it is. is it possible to help keep our online platform safe from cyberthreats? so we can better protect our customer data? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with global secure networking from comcast business.

it's not just possible. it's happening.

♪ liz: okay, we are in the middle of the last month of the second quarter of the year, and technology leading the sectors in performance. up 12% quarter to date. energy, on the other hand, the worst performer, down close to 3.5%. joining me now, price futures group and oil expert, all things energy, phil flynn, along with bull's eye option chief market strategist alan knuckman. well, what do you have to say for yourself in that sector, phil? >> you know, right nows ugly, right? you look around the globe, this was a sector, you know, even opec can't stop this market from falling, and it's crazy because if you look at what's happening around the world, supplies are still very tight. i think the key thing here is markets expecting a lot more

supplies. they're talking about lifting sanctions on iran, venezuela, and the sanctions on russia aren't working very good. one of the reasons why the market continues to have extra supply at least in the short term is they can't stop russia from producing ois oil. and unless that happens in the short term, i think the market's going to be a little weak. liz: well, yes, i can see that. but it really appears that maybe the world perceives there might be an economic slowdown, there will be less oil and less natural gas that might be consumed. alan, give us your progress report for the second quarter here. >> not so much when it comes to energy. i like it. i'm a guy la looks at lagging -- looks at lagging markets. xle, which is the etf that tracks energy, has been trading between 70-90, right now at the midpoint. there are 27 stocks in that index, and the pe is 8, so i love the value, and i think this is a good sector to look at. but we're looking at momentum. it started with the nasdaq, then

it was the s&p break out, now the russell 2000. lastly is the dow. let's see if the dow can break out, and i think we could see some bullish bank contagion on the upside because a lot of those stocks look really, really good as well. liz: well, chevron, of course, a dow component, phil. but as you look at -- and i'm just thinking when you look at the broader picture overall, is there a show me the money stock, phil, that you like in energy whether it's an actual driller or refiner or something kind of a side window trade. >> you know, i think you have to look at the refiners first. look at today's market action. you saw oil get absolutely obliterated, and we keep hearing about the weak demand scenario, and that's why oil's selling off. but if the demand is so bad, why are the refining margins holding up so good, even with this onslaught today? the refiners have been hanging in there. that's why i like marathon, for example. i also wanted to get in, we really like six flags because gasoline prices a year ago were $5 a gallon, we could get a lot

cheaper. so we should see u.s. demand for gasoline -- so go to six flags, you know, have great time, wally world, wherever. liz: alan, what is your show me the money -- >> coming out of phil, that totally makes sense. i'm looking at jd.com, i think china's making a comeback here. it's about risk-reward. i see a lot of money flowing into in this stock as well. so i think there's a lot of upside, 65% off its 2021 top. liz: yeah, that's true, can and down about 40% year other year. we'll watch it and see, alan. alan, phil, great to have you both. here we go, folks. dow, s&p and nasdaq seeing strong gains. dow up 197 points, the s&p will close above 4300 for the first time since august of last year. fed kicks off its 2-day meeting -- ♪ ♪ larry: hello, folks, welcome to "kudlow." i'm larry kudlow.

l