the day for himself. maybe go golfing with his buddies and i can see his point. it's father's day. father's should choose what they want to do. since real life, every day should be father's idaho day too. for me the circumstances are different. i'm 60 years scold that means time with family, friends and children is beginning to dwindle. i guess if i'm lucky, at some point i can be spending all my time alone. it is depressing folks. for older dads or work aholoicks, spend that time with your family instead of going golfing, peek in the house and take a look at u.s. open from time to time but time itself is so precious. spend it with your family, enjoy father's day because you've earned it. right, liz? liz: the dads have to slave over the hot grill while moms are like i'm getting a facial. everybody leave me alone. happy father's day to you, charles. charles: thank you very much. appreciate it. liz: thanks, charles. stocks getting back all the

earlier gains and tripling since friday and delayed reaction since christopher waller's comments and made six hours ago that inflation this time around is one tough cookie and still has its claws in the economy. the fight against it must continue because waller says it's not coming down like he thought it would. this afternoon's losses with the dow down 43 points and s and, up 8 and nasdaq down 67 and russell 2,000 down 18. aside what a week it has been. roll that beautiful bull footage and the dow is off the highs of the year. right now we have the blue chips right there looking very, very healthy. now the s&p, flip it over to that, june 8 you may remember exited the longest bull market since 1948 and following suit. we've got 59 minutes left to trade for the week. not only has the broader endecks popped nearly 3% year to date. it's up 15% year to date. nasdaq has enjoyed even better

year and add in the 3.5 weekly gain and tech heavy index soared 31% since january. all right, here we go. we look at s&p 500 at 4,414, 4414 and s&p 500 is nearly 1,000 points above where wall street bears like morgan stanley mike wilson say it should be. before you cackle about the recent rally, take note of this. bank of america strategist who correctly called last year's selloff says the cops show up to the bull party and it'll then collapse. heart net points to baby bubble cc specifically in ai related names and nvidia, microsoft, both of which with all time session highs and the pain comes from the federal reserve realizing to raise the benchmark rate to 6%, not 5.5% and in order to slay inflation. not quite what the market's

betting at this very moment. by december of next year, there's zero bets and rates hit 6% and maybe mr. hartnet. tech trade is on and adobe and digital publishing giant with a market capital about $231 billion right now hitting a one year high and this gain of 1.5% brings to $497.86. here's the news announced insatiable pushing for the quarterly records and so many big stock stories developing at this hour. getting to the floor show on this friday and trader scott shellady and northern american macro strad jim jordan steven englander. i want to begin with you. let's start macro. can we?

look at all after the great gains year to date and month to date and year to date. does it continue or with mr. hartnet. you're with boc? >> we think the economy will slow down and not the worst recession we've ever seen but those of us who are of a certain age if you remember 1990, if you remember from history books some of the 19 70s, some of the milder recessions and it's going to be painful, but the current generation only remembers 2008 and 2020, which were lightning strikes. liz: but the nasdaq up eight weeks in a row since march 19 well before the pandemic. that's always our med rick. pre-pandemic. this is pre-pandemic. it keeps going on and on. if we had been cautious if investors had been cautious over the past six months. they'd mis-out on a big rap. >> i'm a bit more optimistic on

certain parts of profit margins and this has been the tightest labor market in 60 years and real wages had to drop. imagine what's going to happen if the unemployment rate goes up half a percent or 1%. i think that we'll get the disinflation but i think it's going to come on the back of labor markets and softness and as well as few other factors that are out there. liz: okay, all right. in the meantime though, scott shellady, it looks like the risk trade is back on and we're seeing the speculative spikes and the name of nick la and week to date, month to date and these stocks are looking incredibly hot and farraday futures and that speculative trade looking good over the past several weeks and we'll cycle through some of the other names too and i'm amazed at one minute as in half a year ago and that is back on.

>> it's interesting. i'm in a camp that i think the economy is not doing very well at all still. i'm in the camp that i think a few stocks like 7-10 stocks holding up the nasdaq as well as ten stocks are proposing the s&p 500 and don't like how narrow the recovery has been and have you been involve in the indexes and that'll give you gains and if you've been involved in equal weighted, not as much. that'll come down and i still think that there's more and more people leaving my island of negativity and going into whistling by the graveyard now, and i also take as a positive because there's too much people that were saying we're going to go to a recession and the world's most predicted recession and i've been in the business 35 years and i haven't seen anything that predictive and true yet ever. people get off that pain train and we'd come down and get happy about things going higher before i ultimately think they do go down and too many people are on

that side of the vote and don't like the narrowness of the recovery. everybody has been banderring about the nasdaq -- liz: let's stop you there and seven or eight big stocks. charles: it's ai. ai. liz: microsoft, nvidia, apple, et cetera. >> if you want to get on the board, that's fine. everybody has been happy to see that nasdaq is up 31% for the year. last year it was off 34% so you don't have to make 34% back to break even. make 45% back before we have a nasdaq break even party. i'm not getting that excited till the rubber meets the road. it's a narrow recovery, mostly ai and yes, it's done well and will still do well. liz: not bringing us back to where we'd broken even before the nasdaq and s&p 500 and

strike a balance and telling clients about striking a balance between growth and protection? >> we're telling them to be careful and it's a cliche and we see -- liz: how to be careful? >> stay away from fixed income. there are problems there and you don't know freights will go up and go down. we're very near and covering the dollar and u.s. dollar has been weak the last few weeks and we think this trend will continue and it's u.s. rates going to be at a top and the market is all sorts of geopolitical issues and foreign institutions selling the dollar. if we're right and fed is near the top and you have the cycle against the dollar, and you have some structural selling of the dollar, that could be real pressure on the dollar.

liz: scott, look at europe and everybody has a different opinion and let's lag and it's coming up and emerging markets, et cetera. you're putting names like wal-mart and turn your back on international trades out there? >> well, you know what, i need the british passport in the european union and don't want to sell ourselves out and saying i'm turning my back on it and it'll be a bit harsh and it's confident about that and about the situation and when you ask me about to your point, i have moverred money with family money and talking about them and family money talking about the market and we've gone onto a little bit of fixed income and last one said that's probably not a place to go and we're at the top of rates and maybe that

was a good time to do that and take everything and i don't trust the market and same time if you ask me if you didn't take care of the commodities today, they screamed higher and they're hot and on fire today and like dba with invesco. liz: soft commodities? >> yes, corn wheat and beans through the roof and midwest has been apart of it and that's shopping and like at wal-mart and i feel like that. liz: toss into the recipe there and scott and steven, stay away from fixed income at the moment. scott is liking it and thank you for joining us. seeing delta airline shares hit ago fresh 52-week high on track to stretch their record winning streak to 16 sessions.

right now reversing just a bit in this final hour of at the same time down about a third of a percent for delta airlines. investors are flying high on that news about the 15, 16 point streak but the summer travel season in full swing and they're dreading airline delays and no wonder the stock of the company that helps airlines reduce flight delays is up 131% this year? next, we'll reveal the company and bring in the ceo with closing bell 49 minutes away. it's friday. i'm doing math in my head. we've got triple witching friday. expirations of options and futures and might get a little hairy in the final minutes of trade and stay with us. the c "claman countdown" it comg right back. dad, we got this. we got this.

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liz: folks, look at inter-day for you of dow jones industrials here. we just hit session lows and loss of 93 points and dropping here. so at this moment, we have suddenly and by the way, when we started the low of the session, it had been down 39 points. we had also earlier been up 180 points and looking at somewhat of a decent swing from peak to trough here at the moment down about 90 points and dropping. disney i'm looking at the loss leaders here and disney as the big laggard and microsoft and united health group and american express, wal-mart and so on. internet of things company, ioc. they just revealed a mayor company has become a client. one of the largest airlines in the world. in the 2023 connected operations

award, somsara provides software and systems to help companies track physical assets and improve work flow announcing that american airlines is not only a happy customer and thrilled customer. thanks to somsa are, a customers, a hub at dallas airport saved mechanics 2,600 hours searching for ground support equipment all over the tarmac and more than half a million in jet fuel and reduced flight delays by 15%. how does samsara do that? artificial intelligence is one of the key tools and we have samsara founder and ceo. great to have you. you took the company public in 2021. there's a motivator audience in the show and the stock gained 130% year to date, it's our job to get the stake behind the sizzle. let's get the stake.

what did they do for american airlines that reduces flight delays by 15%? >> liz, first, thanks for having me on. we've been working with american for a bit over a year and for them, they're all about operations and they're trying to keep the airports running on time and they're they're the world's largest airline and that involve as lot of pieces of equipment down below the wings and think about the ground crews out there fueling the planes and making sure they're ready to go and make sure they're in the right place at the right time. we've put tracking devices on the equipment and put that all up to the cloud and provide them digital work flows to give them a better idea of where everything is. use technologies like artificial intelligence to streamline the operations and basically as soon as airplane arrives, they know what equipment needs to be right under it to make sure they turn it around quickly and get passengers on their way. liz: i want to explain a bit more in detail and i started looking into this and thought it was stunning that american airlines big hub in dallas only

has 13 ground power units and what those are, they're sort of like little engines that attach to an airplane that's sitting at the gate that doesn't need to have the actual gate, actual engines running because that would use up a ton of jet fuel and they need electricities and a/c for passengers boarding and they only have 13 and yet ewe guys helped them move at hyper-speeds. >> satellite technology and those 13 units are again ray torrs and they can power an entire jet plane and can't be everywhere and have a limited supply of them. gps tracking devices that update in realtime. they know up to the second where exactly those 13 minutes are. they can see where they've been and understand which terminal they're at and what they've connected to on or off use and that data helps them make

informed decisions and where the industry should go next and keep things running on time and got it exactly right. the net result is lower fuel usage and they're cut their fuel spend and save about half a million last year alone. liz: not to mention companies like asmussen, which is a reconditioned equipment project and safety and xpo is a freight company and founder brad jacobs on the show and excellence and efficiency for them and memphis public works and a lot of customers here. that's all amazing, but we have to be something like a wide grit of clients and the customers represent 40% of the world's gdp. i'm thinking that's something the pr department came up with there.

>> options and great names working with a few of them and details another big one and announcing awards for recently and excited about the traction we've seen and physical operations is what keeps the plant running and thinking about the supply chain and the food and beverage distributers and energy utilities and these organizations are everywhere and without them we wouldn't be able to enjoy the lives we co. it's a huge portion of the economy and don't serve them all yet but that's the plan. liz: great to see a company like this make others more efficient and obviously you began as sort of a data ago re-gator and palantir gets to you and they're working hard with corporate clients now and see them as a big competitor and how do you look at landscape here? there's other companies out there doing what you're doing.

>> there's a very wide range of different products out there and tend to be single purpose or single function and what we've done is brought it all together on the platform. that makes us a bit different. we're not the first people to have gps tracking or safety cameras or work flows that makes this ate almost different. liz: you mit guys know how to create companies and set up 130% year to date and year over year 190%. please come back. >> thank you, liz. liz: ticker symbol iot. from planes to rockets, virgin galactic stock is rocketing higher as they announce the

first tourism space flight taking off this month and we'll get you details and show you the stock and get you the price. closing bell 38 minutes away. dow jones industrials off the low of the session and now down about 53 points and the s&p down nine and nasdaq losing about 70 points. we're coming right back.to ♪ p we've never been. your dedicated fidelity advisor can help you open those doors. they can help you create a retirement-income plan designed to balance growth and guaranteed income. and provide access to specialists who help with estate planning to look out for future generations so you're not just growing and protecting your wealth. you're sharing it. because doors were meant to be opened. great job, everybody!

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bell rings and we've reverted to the red. we were up considerably for all three major indexes but a bit of reversal here and there's the dow jones industrials down 67. we have s&p lower by 10 and nasdaq dropping 73 points. all right, for all of you jet ssetters or wannabe jet setters out there, the tourists bitten by the wanderlust bug, the shares are high of the session and company announced plans for the first commercial space flight later this month. virgin galactic shares up 14.7% and off the earlier highs we see in the inter-day picture and galactic 01 space flight scheduled to launch between jun. current ticket price is $450,000. the company was founded by branson in 2004 and hopes the upcoming launch is the first of many regular commercial spaces

and sofi falling after getting hit with yet another downgrade this week. shares opportunistic fintech bank more than doubled in just the last month. very pretty chart here and now of course the analysts are saying too pretty at the moment. spotify is at 52-week high after the music and podcast streaming company announced harry and meghan. the two parties are mutually agreeing to part ways and proud of the series they made together. spotify's deal with duke and duchess of sussex estimated to be worth as much as $20 million and report from the journal says harry and meghan only did one

podcast and didn't meet the productivity benchmarks required to receive the full payout from the deal and food stamps spotify is up 3.6%. we should look at irobot shares because they're surging to six month high, 26.6% and amazon $1.7 billion in roomba vacuums and shares of $67.06 and amazon's offer of $61 per share. but far below it is enough. certainly to make sure they didn't overpay for it. the backlash against the pga tour's deal with saudi backed liv golf ramped up another notch. the justice department investigating the agreement between the former fauxes turned business partners. former foes turned business partners and full coverage of the probe down into the deal rock the professional golf world

at this hour. a hole in one with his life story, originally penned as one man show, a bronx tale is one of the most famous movies of life in the 50s and 60s and chaz couldn't have known his story of vicious street in the bronx. we'd get him all the way to hollywood and broadway stage. how did he do it? he lays out his amazing story of success on my latest episode of my everyone talks to liz podcast. download on amazon, apple, spotify, i heart radio, wherever you get your podcasts. this is a very popular one, folks. you want to listen to it, especially coming into the weekend. we're coming right back on this friday. ♪

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that's life well planned. liz: biggest merger of the year between sports and pga tour saudi-backed liv golf is lost in the rough. according to "the wall street journal," department of justice is teeing audiotape probe into the planned merger of pga tour and the saudi arabian-backed liv golf and drawing scrutiny from congress and getting to know pga tour gets tax breaks and the saudis would be the ones to pen benefit from american federal tax breaks. it has people fuming. >> yeah, fuming turning into investigations and not just anger but potential change coming as well. i want to start first with the department of justice. so the department of justice

they were already investigating the pga tour over antitrust concerns and now what we have learned learned is between them and their former rivals liv golf and liv and doj not commenting on the merger or acquisition, pga tour said all stake holders learning more about the pga tool with the venture and understand how they'll benefit our players, fans and sport while protecting the american institution of golf. but as we were just talking about, it's not just antitrust concerns and we're seeing senators step up to the t to question the security of all this and tax status of the league considering the merger. senate finance committee investigating the merger and liv and pga tour and expressing concern over the saudi government role in influencing the merger and the "risk posed by a foreign government entity

assuming control of a cherished ameamerican institution ". and the senator questioning that and not to the tax except status and senator blumenthal and mendy and to us directly "the saudi sovereign wealth fund would pay $0 in taxes on their blood money and potentially billions in profits while countless american families pay their fair share while struggling to make ends meet is ludicrous". this merge was already expected to take at least a year. wondering it this will all take many of the players making up the game and surprised by the news and eager to ups the pga

and refused the money and staying with the pga. liz: saudis have a lot of money. they're not a nonprofit, which of course we know the pga tour is a nonprofit status technically. madison, thank you for teeing that up. this drama swirling around the emergencier as u.s. golf associations 123rd u.s. open returns to los angeles for the first time in 75 years and the first major tournament since the pga tour and liv golf announced their merger but what do the questions and probes of the deal mean for the players, their sponsors and saudi money trying to flow to the u.s.. one of the mode widely read sports journal is in the world. john, go back to when you heard about the merger and a shock to you with someone that's keyed into these types of things as to the rest of the world.

>> my best sources and nobody knew about this and that's what the big problem is there's so many questions is they entangle them and think about all the money that flows into the pga tour and that's money from the media companies, money from the sponsors and it's the players that bring in all of this money. none had any idea about this and talking to the sponsors and the media companies and take ago wait and see attitude because they have to. there's no real news coming out as to what this is going to look like. liz: now there's a justice department investigation if they stay hands off? >> right now, they'll be fine

through and through with investigations and i think where the pga tour runs into a big problem is that they spent a full year being very effective at saying they were good and liv was evil and the sioux saudi wealth fund was evil and the morning they supported this and the tour bought into that and turn around with no notice and no pr effort to sort of nullify the sponsors and nullify the fans and say that's okay. we're going to move forward with this. it has a sponsors scratching their head and wondering if the fans will sponsor the pga tour events and golf is popular if they keep it there and you know as well as i do, liz, if there's going to be fans and viewers and sponsors follow. liz: yes, there's tiger and there's roar mcilroy and the sponsors and the fans will follow. but those are two of the players who had said absolutely not.

we will not join liv golf. they were all kinds of questions about how it would appear to the 9/11 families. and that i think has been a big issue because when you talk about that, that was something that jay monahan, the ceo of pga tour had said early on, well, at least if you play for the pga tour, you don't have to apologize like some of the golfers that immediately did join liv golf. when you play that into the picture, these players that said no, cannot be happy and what are you hearing from tiger. >> this is why it's so confusing and they did no sort of pre-effort to get out there and have a message for the 9/11 families and have a message to tiger and rory mcilroy and the pga tour and liv golf settled their lawsuit and there were risks for both parties and they

settled that lawsuit and i am at a loss to understand why they felt the need to announce all these business ties without giving any specifics about what the business ties were. that's what they were with all the constituencies and stake holders with the federal government for goodness sakes. liz: for people that don't know, 15 of 19 9 will be 11 high vac -- 9/11 hijackers were saudis and many of whom have been friends of the show and the world trade center, big hub down on wall street and, you know, as we continue to look at this, do you think this merger will go through, john? >> i can't handicap it, liz. i can tell you that i wouldn't say it's likely that it's going to fail. but i think there's a very good chance that it's not going to go through. liz: really quickly, headlines that michael jordan is finally cashing out after 15 years of owning the charlotte or nets. he make as lot of money on that

one; right? >> made a lot of money, especially considering the charlotte hornets never got past the first round of the playoffs, liz. liz: i know. three times. three times and couldn't quite do it. they didn't quite have the same glow that michael jordan brought the bulls after all those years. thank you so very much. it's good to see you, john. >> great to see you. have a great show and thanks for having me on. liz: appreciate it. is goldman sachs' david solomon back on the chopping block and some of the reasons the question is even arising. that's next. closing bell, 15.5 minutes away and dow jones industrial down 16 points on this friday. we're coming rights back. we got this. we got this.

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just unpack this story. david solomon clearly embattled inside goldman. i don't think he's going anywhere anytime soon. liz: why? charlie: in december on the "claman countdown" in december we were the first to reports that the partnership class, the people under him, think the guy is not doing a great job. they don't like the fact that bonuses got distributed to traders who made a lot of money. they don't like the fact that he's a dj. liz: do they mind that the stock is up 20% year over year? charlie: he had a freight 2021, not a great 2022.

fox business network has learned that solomon actually took our advice when i said on your show that he should start hugging it out with the executives. we have learned that he has taken our advice and he is now hugging it out with executives. that's one of the things that has come up that he's actually doing a charm offensive with people. he's holding dinners and drinking wine with guys trying to woo them. weather this is working or not, i don't know. he's getting incoming from outside the firm. the "journal" had this, i confirmed it as well -- here is one thing that i think might backfire and help him. lloyd is his predecessor. long time ceo.

he's telling me he doesn't like the fact that he's making the firm look bad by being a dj. liz: oh, stop. you had your big moment in the sun. charlie: that's what a lot of partners are saying. he's actually getting a sympathy vote because they think lloyd shouldn't be saying things like that. it's a high-level food fight. we are on tv and we are always stabbing each other in the front and the back. we are disgusting people in tv news. reese witherspoon -- they are all back stabbing. this is the business we have chosen. they are mad at david because he

djs at parties which looks a little weird. liz: people have lives and they should have lives. charlie: then he gets rid of the coffee cart downstairs. liz: there was also coffee on another floor. charlie: they got mad about that. then he cut bonuses of the traders and gave them to bankers. they say he's helping the bankers. i mean, then you have got lloyd chirping in the backgrounds, he's djing, that makes us look bad. then you have got partners -- they -- then you have got partners pissed off at lloyd, what is he doing saying that stuff. it's unbecoming of goldman. this is like a dime store novel.

it's just so "dallas" on the west side of manhattan. lloyd versus solomon. solomon versus coffee. liz: they are up 3% year over year. apples to apples. charlie: shut up in my ear. it's friday. liz: don't tell me to shut up. charlie: i like your staff. they can wrap me, the nicest wrappers in the world. as david solomon's record turns. by the way -- i wonder if he has done that thing with the record. isn't that what the wrappers do? liz: closing bell five minutes

away. for the week we may be down for the day. but for the week we seat dow will close up 1/ 1/3%. still show it has been a pretty significant year overall, especially for the nasdaq which is on track to close up 8 weeks in a low. as we talk about the nasdaq, it's been quite a streak. now a chunk of those gains from ai are fueling big tech companies like the name we talked about, apple, microsoft. our countdown closer is here on which names are flying under the radar. mark jambroni, give us the under the radar stocks. >> when ai is helping businesses broadly and we are seeing that in the market, the best thing to

do in our minds is not to chase the ones that have been up a lot, but take a good business like vertiv that works until data. the margins are improving, data center growth is very strong. they are improving margins, thairnsing earnings will be much higher than the street expects. if ai happens to come through, which we believe it will, it accelerates that growth as we go forward. vertiv wa dollar and a half in the slow 20s. we think there is lots of up side to this particular name. wouldn't it be nice to have that come through.

an excellent business which should not be fueled by additional growth in ai. liz: that has a lot of people wondering wall bank of america said that a collapse is coming of this market and some of it will have been because of what he called the you baby bubbles in ai names. are you concerned about that? >> i agree the market is currently pricing in a goldilocks scenario. it's been led by the large names and fueled in some way by the ai speculation. what we have seen more recently is the market broughten out. we start to climb what they call the wall of worry and a bull market can begin. we think it's early for that because the market in the goldilocks scenario assumes the

fed will orchestrate a soft landing and the bank liquidity crisis won't have an impact on it and the lag effects through fed policy will ultimately have some impact. it doesn't seem probable we won't run into head winds as we work toward the ends of the year. that's why being selectee and active in the market is important which is what the indices do from our perspective. liz: the fed after 15 months paused the interest rate tightening cycle most of the market believes they will begin tightening once again in july. do you foresee any cuts this year? >> i do not. i think suggesting there will be cuts again is a step too far. clearly inflation -- the trends is our friend. as it's moving in the right direction it's positive.

employment is strong. the economy and the consumer are strong at this moment. at most what the said suggested is let's pause and take a look at what's happening. i think it's probable they come back into the market. but cuts to me would not be something welcome in the market. if there were cuts it's for the wrong reason and would lead to an economic back with ground. liz: we always he expect a lot off volume still it on an expiration day on futures and options. but it's the 8th weekly gain for the nasdaq in a row. markets are closed monday for juneteenth. [♪♪] larry: hello, folks, welcome to kudlow, i'm larry kudlow. please mark this date on you