competitiveness, one of the first things we have to do is get back to the office. i know this work-from-home thing is pretty cool but i just think it's not going to work, and here is the first step. the great resignation finally is over and soon thereafter, i'm telling you workers sitting around at home wondering why they didn't get a promotion despite that dazzling zoom presentation. it just simply doesn't work that way. i know a lot of people out there think we can chill and have it all and live forever like that but take a look at this chart because when you're essentially saying is we would become france , well, they have been doing this for decades and all its gotten them so far is far less purchasing power, riots in the street because they have to work fast the age of 62, so, the message to america is you know what? let's get back to the old elbow grease that made us number one. that's my message today, liz. liz: that fabulous zoom presentation. charles: [laughter] liz: riveting. i was hanging on the edge of my

couch. just waiting for that. charles: [laughter] liz: thank you, charles, very much. folks we've got this fox market alert. goldman sachs has sent up a warning flare about stocks and the bulls are scattering. we've got the dow jones industrials down 189 points the s&p lower by 15. the nasdaq pulling back by 20 points. russel 2000 down just under nine points. let's call it two warning flares the first is macro. goldman's team now says its u.s. equity september sentiment indicator is in stretch territory for the first time since april of 2021. makes sense, all the major indices ended friday very close to 2023 highs. the s&p clocked its fifth winning streak in a row. the nasdaq its eighth in a row. if you just look at apple for example, which is a dow, s&p and nasdaq component, folks? at this price, $185 and change apple is just about $5 away within striking distance of hitting 190 a share and change

and that would give it a $3 trillion market cap. 31 pe ratio though is a little expensive but take a look at the s&p going back to goldman's april of 2021 call. at that point it hovered around 42.32 so if you look there you see it took another eight months before it peaked at 47.66 and then it began its descent, so is that warning flare a bit early? here is the second flare. goldman has cut china's growth outlook citing anemic confidence in the speed at which the world's second largest economy saw its reopening boost fade out. chinese stocks that trade here in the u.s. are taking a hit. even though goldman is late to the downgrade party nudged by beijing to cut its key lending right to stimulate the flagging economy. let's look at some of the sector s most of them are down today. energy has been weak much of the year but with crude resuming its sell-off and now down about 1.7% in the after market. $70 still above 69, okay we'll

take that, right? we do have the energy stocks themselves selling off as you see from the xle. tech has notched a 37% gain year-to-date, so yes, it's in the red today by three-quarters of a percent. financials great and small, also crimson as federal reserve governor michael barr said today while the banking system is quite strong, there are concerns in the wake of of course three regionals going belly up back in march so two questions. is the timing right to take profits and does this mean you should stay away from stocks for the moment? to the floor show and our trader s dan greenhouse, of course hedge fund manager here and dutch masters. dan let me get right to the goldman call and where you see the markets because you know , yes, we've seen quite the dramatic run-up so what are you expecting with the s&p 500 in the next couple of i guess you could say weeks-to-months? >> yeah, i think that it's perfectly fair and reasonable to assume that the market has a bit of a pullback and that's not just an opinion if you will.

that's, you can look at the internals of the market, some of the technical indicators there and overbought territory, and so it's perfectly reasonable to expect some digestion of this rally, but that's obviously separate from let's call it the medium term whether or not you think stocks are going higher but yeah, i think some level of hesitancy right here is correct. liz: okay, hesitancy but does that mean, dutch, that you just stay away from stocks, or do you double down on digging? digging for the little chunk of gold that is still there. hard to find now though. >> well, thanks, liz. speaking of digging, yeah, so the bitcoin miners are actually coming back here. there's been some development in the bitcoin world but what we're i think, you know, dan stepenosky absolutely right. we are extended a little bit in a lot of the indexes mostly like you said 37% rise in the nasdaq and the tech stocks, so we're looking outside of tech land. we like things in the beauty

like elf the beauty space. we like pharmaceuticals, amph, but we really went large into the bitcoin mining space this morning, because the sec has made a cataclysmic decision we think that hasn't yet priced into the stocks and that is that there are going to be winners and losers in crypto land and one of the winners is bitcoin. liz: okay, but let's just clarify here. 70% of your portfolio is now committed to one stock and this is, i think it's important to point out. it's based in canada. basically, they bridge high performance computing with digital asset world but they aren't just bitcoin. i was looking into this. they are commercial, financial, healthcare, government, gaming, blockchain, et cetera. >> right. right. well we like the action and from a trading standpoint, we really try to find stocks that trade

what we call righteously. stocks that are not, you know, really noisy and irrational. we're looking for some rational trading and the market makers in this stock seem to be pretty rational players and so, you know, we will take a huge position like 60 or 70% and then by the end of the day or the end of the week, if we've reached our target which in this case is about $3 a share, we'll start peeling it back and reallocating. liz: okay, so piling in, and by the way, for those of you who don't know, carnivore trading's portfolio is up more than 90% but 95% year-to-date so he knows from what he speaks but more of a trading standpoint. dan, where do you like these markets now and obviously, you have somewhat of a different perspective here. >> yeah, i mean, we've taken a look at some names in the bitcoin space and i think there's certainly some investments to be made there. not necessarily in bitcoin themselves, but in ancillary

businesses, if you will, but i think from our standpoint i think there's a lot still to like in the energy space. this is not necessarily a derivative on oil. your investing in companies for the cash flow, for the shareholder return profiles and so a lot of them remain attractive even at lower oil prices and then i think on the consumer discretionary side of things, the sectors done extremely well this year. a lot on the back of amazon and tesla but there are a number of parts of the economy holding up on the backs of what the consumer are doing things like the homebuilder obviously one of the best industries you can invest in. a lot of leisure and travel like the hotels if you will. there's a lot of different investments you can look at on the back of the strong consumer that have done well and i would argue are likely to continue doing well as long as the job market holds up. liz: as long as the job market holds up. there's been a little bit of retrenchment there, dan, but barely. we still look at it very strong ly. tomorrow fed chair jay powell is speaking. what are you expecting and do you brace for something like

that? >> yeah, i mean, i think it's hard to know what he's going to do tomorrow. obviously we just had the fed meeting so it's fair to argue he's not going to deviate too much from what they just said but i think at this point, the street in general seems pretty divided on whether there's any more rate hikes to come. my own personal inclination is i think it's pretty safe to say it'll be one more, whether there's a second one after that remains to be seen but all of that is secondary to the average investor when it comes to how long the rates will stay at these elevated levels whether they hike one or two more times you should care less about than when they are going to probably start bringing them down. it's more likely than not a story for next year. liz: one thing you care deeply about, dutch, is selling and taking profits. you've just sold two names to take some profits. what are they and why? >> well, we sold workday because it is in the tech space and we also sold snowflake, but

we were really doing that to kind of make room for these other calls in the other sectors i completely agree with dan. there's a lot of opportunity outside of technology stocks which are the most extended positions and i'm right down the middle with exactly with what dan says about interest rates as well. liz: yup, well, i'll tell you something. when jay powell speaks, before the house tomorrow, and then the senate on thursday, what's important to point out is that the q & a sometimes force him to, you know, deviate so we'll be watching for all of that and more. dan, dutch, great to have you both thank you so much. look at the dow down 217. netflix co-ceo ted sarandos going straight to the source. he just arrived in soeul, as the streamer gets ready to drop season 2 of the wildly popular hit squid game. mark mahaney joins us next on whether squid game two will be a

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liz: netflix -- liz: no wait, go back. that was scary! very creepy. netflix most watched series of all-time squid game is finally returning for season two.

it just dropped the new trailer which teases both returning and new cast members for the sequal to the south korean death game thriller. squid game two release date not yet announced but it will be another global hit. will it be for jackpotting investors in netflix? joining me now first on fox business, evercore isi fundamental research analyst mark mahaney. 130 million people watched the first season in 2021 and it drew 4.4 million new subscribers , added something like $1 billion in value. what's your analysis on season two showing? >> well, i'm not sure i'll just start off with look at what happened to the stock. the stock peaked, i think it was $670, or $678 right during all of the excitement justified excitement around the first squid games when it came out and to me that was kind of the power it showed power of the netflix

platform the ability of netflix to take these shows random, obscure shows, south korean dramas and explode and make them popular worldwide so will season two do as well? i haven't seen it. i've just only seen a preview on your show so i hope it does well the stock has had a big dramatic correction after that and it's having a dramatic rally since then. for me, it was one of our top picks at the end of last year beginning of this year. it's not now. i think there are other internet stocks with better risk reward so it's in the small buy category for me, but you know, there's a lot that's happened since then. netflix is a very different story largely because of the ad -supported rollout but also the password sharing netflix has become a lot more complicated and mostly for the better since squid game first squid game show came out. liz: well, it's hard to bet against it, knowing that you look back and see what the first squid game did and again, as it coincides with the password sharing issue and the crackdown on that, it feels like people will be forced to get new

subscriptions because they will be dying to see it if they saw the first one which as we know many people did, but what about the churn after squid games ended? >> well, there was a spike. i think the bigger issue netflix had was a pull forward of demand during the covid crisis and let's not forget at the beginning of last year, not that long ago, netflix had two quarters in a row of declining subscribers. netflix sort of hit its maturity wall and they finally came around to accepting a lower price plan or offering a lower price plan that's ad-supported and they lowered their prices by 30% yet they increased revenue per user for those customers who signed up because of advertising revenue. you rarely ever see that in business history, so i want to give a lot of credit to netflix management, they should have done it earlier but whatever. they rolled out the plan i think it's very successful. they have about 100 million borrowing accounts, people who use and i've got three kids at different colleges who use my

account, so i'm going to, the household is spending a lot more on netflix and it will because there are a lot who really like the service in part because of the rollout of these wonderful shows like squid games so fundamentally netflix is a good asset. it's not the go-go asset it was five or six years ago but it's a recovering asset and also beyond peak competition i don't say that lightly. i think you're beyond peak competition in terms of stream ing when the ceo of disney gets fired for excessive losses in streaming you're beyond peak competition so i just think netflix is sitting out there. the leading streamer in the world and the stock should go a little bit higher. i just don't think there's a dramatic upside from here. liz: after a one year run-up of 147% i see what you're saying. just as they were smart enough or maybe it was just because they were forced to do it and timing was perfect they rolled out the ad-supported tier. you have spotify rolling out a premium tier the complete opposite of a less expensive ad-

supported tier. spotify shares are l farring on this news with the premium which apparently offers high friday quality, audio, et cetera. is the timing off just as americans are expected to zip up their wallets a little more tightly if the economy slows down? >> well actually, i actually like spotify stock and i actually prefer it to netflix, so i'm kind of switching gears a little bit. we do want to take advantage of the , i want to be selectively constructive this year and i have been. i still think some names like that are inherently very in expensive like a meta is our number one pick still trades at a discount to the market, which i just don't think will be the case 12 months from now, so i think it'll recover a premium. that's why there's a lot of upside to the stock. spotify i'm very intrigued too. this is the first year in which they expand gross margie ins and in the meantime they still got very good subscriber growth. in fact it's like netflix five years ago. they are showing accelerating subscriber and user growth.

the big advantage that spotify has, however, versus a netflix is that it's a free model so they have half a billion users, about half are free, ad- supported users and half pay so it's a good move to roll out this super premium plan this is what netflix has done and you're right. the way you set it up. it's the opposite. it's kind of like you take this accord yonkers and you either stretch it down which is what netflix did or you stretch it up with what spotify is doing and that's the right thing to do there are plenty of people who will pay extra for that premium spotify offering and it's a good move by spotify even though the market doesn't like it today liz: and their satisfaction and payer i guess satisfaction overall is at a record high, so that really bodes well for spotify. i know that's one thing i will not get rid of. i love my spotify. overall price sensitivity on the rise but people are willing to pay it. amazon. i need your call on that. amazon has finally had a very strong run-up and as we look at

that it's added to bank of america's u.s. one list whatever that means but the stocks getting a tiny little move here, but where do you stand on it's so hard to call on amazon because you've got the e-commerce side, and then the amazon web services side. >> so our top three picks are meta, uber, and amazon is number three. we just bumped it up recently a month ago. we have what i call a triple trough thesis on it. the stock is close to a trough multiple. i think there are margins are close to trough levels and their revenue growth is close to a trough level. this stock has gone through a dramatic derating, the multiple has come down over the last three years because they went from generating consistent positive free cash flow to negative because they went into loss mode for the retail business and then because the a ws segment dramatically decelerated. this was a 30% grower that went to 11%. you told me all of that in advance, you know, i would have told you the stock would derate. i didn't tell you that in advance. i didn't get it right but here, that's the past.

here, i think all of those factors can reverse and that's why i think there's a lot of upside in the stock from here we have a 150 price target but if you recovered a prior multiples there's $200 on this stock. liz: in retrospect, was it a smart move if people bought it pre-split so that they could get one share then split into 20 pieces? >> i generally don't view split s as useful indicators. bearish or bullish for stock pickers, and for investors. i just treat them as a non-event , please, that's always been my advice but i want to stick with amazon. i think it's a great, what i call classic dhq. dislocated high-quality company and the last quick point on it is it's one of the best mix shift stories in tech. the fastest growing elements aws and advertising cloud computing and advertising are the highest margin so structurally you'll get higher operating margins overtime. that's very different between this and about any other tech company it's one of the reasons,

one of our top three picks. liz: okay, a very good stuff, and you're going to watch squid game 2 aren't you? >> at least a few episodes. liz: [laughter] all right, so you're giving a yellow light to the stock, i feel like not a red light or green light. thank you, mark. good to see you. >> thank you, liz. liz: mark mahaney. we have some breaking news to bring you. you are looking at a live picture of the port of st. johns in new finland, canada where the polar prince ship carrying the titans submersible left on a mission over the weekend to document the wreckage of the titanic. rescuers are pouring in from the united states and around the world to beat the clock and find that missing submersible which there it is on your screen , carrying five people. we are about to get you a live report from boston where the u.s. coast guard just held a press conference. closing bell, 38 minutes away. dow jones industrials heading south down 222 points, the s&p lower by 19.

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liz: we have this fox business alert. rescuers searching for the missing titanic tour submersible estimate it now has just 39 hours of oxygen left. the sub with five people on board went missing in the north atlantic on sunday. four of the five identified include two billionaires and the

ceo of ocean gate expedition s. the company operating the sub. the u.s. coast guard just held a news conference discussing latest efforts and that's where molly line is in boston. what did the coast guard say? reporter: liz, the big headline here is essentially all the search efforts thus far have yielded no results. you mentioned there are five people still missing on the submarine. no sign of it whatsoever at this point in time and as you mentioned, the people on board there are running out of oxygen so time is short. the coast guard says this is their top priority. unfortunately a lot of the assets they would like to have in that area are still moving there. there are assets though above and below the surface, and remote operated vehicles now diving sonar being used, the canadian coast guard has a cutter on the way. private research vessels rushing to the scene and some with under water capabilities. coast guard planes are in the sky. a rescue wing from the new york international guard also looking for the titan, the name of the vessel should it surface. >> they are specialized in being able to see these things

from the air so they have given it everything they have to it and if it's on the surface, we're fairly certain we be able to find it. reporter: a group of adventurers on board, they include stockton rush, you mentioned the founder of ocean gate. he's leading the mission. in 2021 that firm started to take paying customers to the titanic wreck site. the price tag $250,000 per person. also, on the vessel, haymus harding a uk billionaire, aviator, the chairman of action aviation, and french marry nerd wallet paul henry nergolet considered one of the leading experts on the titanic also feared to be among the five people who went missing and a conglomerate in pakistan focused on energy and agriculture tweeted the company 's vice chairman along with his son " embarked on a journey to visit the remnants of the titanic in the atlantic ocean" and of course we know that vessel is missing and the coast guard also reached out to the u.s. navy.

national security council john kirby is confirming the navy is on stand by should they be needed because the navy has deepwater capabilities the coast guard doesn't have but they are still looking for that vessel. liz? liz: two and a half miles deep is the titanic. we will continue to pray and hope. thank you, molly in boston. let us turn back to the markets at the moment when you see the dow jones industrials down 231 points at the moment or 211 rather, the low of the session a loss of 383. so we're definitely up off the floor, same with the s&p. s&p is down 17 and the nasdaq losing 16. let's look at individual stock stories here for you shares of a vis budget are accelerating 9.7% this hour on a morgan stanley upgrade. the car rental and sharing company boosted to an overweight rating by morgan analysts bull ish on a travel comeback. they also slapped a new price target of 230 bucks on the stock stocks getting close at 224 and

change right now. stelantis making a major move to eliminate future chip shortages and the auto maker announced a joint venture with the largest technology manufacturer. it counts fiat, chrysler, dodge, and mazarati among its friends, and pujot, i had one back in high school, foxconn, are teaming up with foxconn to start silicon auto. silicon auto is going to design and sell semiconductors to the entire automotive industry starting in 2026. the venture will be headquartered in the netherlands. read between the lines. not china. the products will be available to all customers but primarily will support chips for stelanti s vehicles. shares while down today enjoyed a solid 34% run over the past year. nice move for stelantis. a leadership shakeup at chinese e-commerce giant alibaba is sending the stock down 4.5% and

chief daniel zing stepping down as ceo and chairman so he can focus on spearheading companies cloud business at least that's what they are saying. executive vice chair joseph si will take over as chairman of the board while eddie woo, the current chair of two alibaba online commerce decisions will take over as ceo. there are words and some believe that some of those people taking over are allies of jack ma, the founder of alibaba. dice therapeutics hitting a record high pharmaceutical company plans to buy it for $2.4 billion that's good enough to send dice soaring 37% right now. lilly's offer is for $48 per share and cash, about a 42% premium to dice's last close and by the way, stocks not there yet it's at 46 and change. the deal would boost eli lilly's immune disease-related portfolio including adding a pill to help treat psoriasis.

the company says they plan to close the deal in the third quarter. lilly is actually also up. that's usually not the case. the acquirer sometimes goes down but it is up just under 1%. wall street crediting the 100% spike in mediterranean food chain cava shares on its debut last week for reinvigorating the ipo market but how do the rest of us investors get in on the action of privately-held shares before they go public? our next guest has the answer. and if action and inspiration are what you're looking for , you have got to listen to my guest this week on my brand new everyone talks to liz podcast. retired marine sergeant kirstie ennis nearly died in afghanistan when her helicopter crashed and she was left with spine and brain damage and a shattered left leg part of which had to be amputated. how did she go from contemplating suicide to becoming a snowboarding olympian , a model, and her

latest challenge? climbing mount everest. we're all facing adversity, right? i know we all have struggles but i promise you, her story will inspire you to a send against all odds. download it right now on amazon, apple, spotify, iheartradio, wherever you get your podcast brand new just dropped. i want to know what you think let me know. thank you as always for listen ing to the podcast. it's very very life changing for so many people. dow jones industrials now down 243 points closing bell 26 minutes away. we are coming right back. ♪ ♪

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liz: cava, okay after going public last thursday at a price

of $22 a share, mediterranean style restaurant chain cava group nearly doubled on day one. doubled. it's unbelievable. it went up so dramatically. it's paired back a bit here now at $37.82 but for a credited investors, there's an opportunity to cash in on a company like cava before it goes public. but how do you become an accredited investor and how do you get access to the companies that are about to go public, or are expected to go public like we're talking about spacex? oh, there are a whole bunch of them, epic games, kyle wolf help ed people make those investments. he's here in a fox business exclusive. kyles team invested in big private names like spacex and te va motors before they explode into the public markets. how do you get your hands-on those shares? >> going back to what you said you have to be an accredited investor and that definition is defined by finra, $200,000 per

year, per individual or 400,000 per family -- liz: you mean income? >> yes, or a minimum of $1 million net worth exceeding your primary home. that's pretty much the definition or registered representative. now what we're able to do for clients who are accredited, we're able to go ahead and access through our network of different providers companies like spacex, epic games, teva, automation anywhere, which is another very -- liz:tevva with two v's. >> yes, but we're able to access those to our clients and a lot of times if you get inner luxury you may get in five or 10 times cheaper than the actual ipo price. how does it always work? no. but if you look at a large company like spacex or tevva or epic games you see the investors you're pretty comfortable with the board of directors so it's not like you're investing in a start up or angel. liz: let me give you an example of a company and then you tell me what those shares are trading near. let's start with spacex, but then i want to hear about a company like databricks, so many people would love to get in on

that pre-ipo. >> uh-huh, so with spacex for example, the most recent round that was done was right around $140 billion valuation. right? the round before that was at 100 billion. the round before that was much less so if you invested right now you'd probably get in around $147 billion value asian liz: which is what per share? >> $85 a share. liz: we still don't know when or if they go public. there's no guarantee on something like that. what about epic games? >> see epic games is interesting because it was trading you'd say about 36. it's down from there a lot of the privates are down they have almost a six-month lag to the public markets, but you did see a large investment come in from disney and sony right at the last valuation, so that's pretty positive for anyone whose a current shareholder who might want to be a shareholder because as we know epic games developed fortnite which is one of the hottest games over the last five years. liz: and you are able to get these shares because there are employees who were paid in

shares, that was part of their compensation when they first started there, and sometimes they would like to cash out but the only way they can cash out is by selling to companies like yours, right? >> absolutely. so you have a lot of employees that could be at a zero cost basis, one of the founders, work in the mail room. we've heard the stories about microsoft for the first janitor who made tens of millions o of dollars so some of it is also early angels who take on more risk who may have an investment of 10 million worth 100 million and maybe they want to take 20 million off the table but still keep their core position. liz: and they can just go to people like you, become accredited investors and then say i want x number of shares or the number of shares limited? >> number of shares can be very limited. about a year, year and a half ago the market was very high. extraordinarily high. everybody wanted in. people were willing to pay above where they were trading. now you know what's going on in the markets especially with the ipo market. liz: can i buy 20 shares of spacex? 50? >> i would say probably the

minimum you'd do in something is $50,000. liz: okay, so it goes by amount. >> yeah, i think about $50,000 would make it worthwhile for the people in the middle because at the end of the day, you'll have someone on the other side who wants to sell. they won't want to sell 10,000 but maybe if they sell 50 or half a million they would have an interest. liz: do you think that csva has generated enough energy through the ipo market now that names like databricks, epic games, spacex, will eventually go public at least this year? >> i do. i'm a little optimistic. i see green shoots shooting up. i think the unicorns want unleashed and wall street, morgan stanley, my former employee and goldman sachs would love to take these companies public sitting on the sidelines because not only does that create banking revenue but a lot for the investment banks and liquidity for the venture capital firms who have been sitting on this for a long time. i also think in the second half of the year due to interest rates flattening out, people can start to really factor what's going on in the market and they would lori lightfoot to get these these going.

liz: kyle wool, thank you very much. people are dying to get in. i want to buy spacex before it goes public. so you do it. speaking of spacex, tomorrow, you can not miss this. in a fox business exclusive, we have the youngest-ever engineer hired at elon musk's space company. 14-year-old kyron was it will be here on the "clayman countdown." this is an interview every network is going for. the "clayman countdown" got it, because of our crack team going for it and you've got to hear ky ron's story. he's hired and starts next month his mom will drive him to school , because he's only 14 but he loves it. this is exactly what he wants to do but he's got a very important message for all of the educational system, people, and i want you to hear it too. new u.s. home construction surging by the most in three decades last month. our countdown closer has a pick he says will build portfolio

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♪. liz: we've got new details emerging about the lawsuit between jpmorgan and the u.s. virgin islands regarding jeffrey epstein. >> as you know jpmorgan recently settled with one of the epstein victims, jane doe number, i think it was known as jane doe, 290 million-dollar settlement. some goes to this individual. some goes to other alleged victims. here is what we do know, there is still a ongoing suit a suit you bought h brought by the u.s. virgin islands, that is where epstein had his alleged pedophile island. he own ad couple of islands within the u.s. virgin islands. they brought a suit against jpmorgan over the same sort of charges. that jpmorgan being epstein's main bank until about 20, what was it, 13, 14? facilitated his crimes including sex trafficking, paying for the sex trafficking. we understand there are very, very, very early stage

settlement discussions going on right now between the two. that doesn't mean it will happen overnight. i understand that jpmorgan wants to play a longish game with the u.s. virgin islands. essentially saying listen, we may have kept him on the book a long time, he was a client, platformed with us, until jess staley his main protector within jpmorgan left for barclays. he wassed head of investment banking, private wealth management. very powerful figure inside of jpmorgan and very close to jeffrey epstein. we understand, yes we kept him on for too long but we think u.s. virgin islands is culpable in its own way. they will try to fight this out a little bit. they will be tough on the negotiations. err u.s. virgin islands where pedophile island was that is what jpmorgan will argue. from what i understand inside of the circle of lawyers there have been talks in the pass about settlement.

it is very nays sent. inside jpmorgan they are considering settling this at some time. they don't want to go to court. liz: settled with the victim. >> right. but they want less after settlement here. going to trial would really be bad. i'll tell you why, liz. i am going through the documents coming out on this thing. they're fascinating, they're scary this is one email from jess staley to epstein, september 2008, basically in the middle of financial crisis. quote, i hope you keep the island. we all may need to live there. liz: oh. >> around that time he was about going to jail by the way on the first charge for 13 month. remember he would get recharged again in 2018. he was found dead in his prison cell not long after that, as he was awaiting trial for many more victims. definitely life in prison situation. also from what i understand jpmorgan is pretty embarrassed by some of the details of these

documents. they show compliance people saying we should deplatform him. they show sort of -- liz: staley pushing backs. >> pushing back. not just staley, one thing i found interesting, they bring up ace greenberg of bear stearns. if you know anything about -- left's follow this. bear stern was bought by jpmorgan in 2008 during financial crisis. ace greenberg is legendary chairman of bear stearns for many years. he wasn't the ceo when he blew up. more of a ceremonial role but he moved to jpmorgan, became a high net worth broker. he died in 2014. someone i'm fond of. i've known for years. ace greenberg brought epstein back to bear stearns in the '70s. he brought him there's a greenberg's daughter was student at dalton school jeffrey epstein was a mat teacher this is hungry young guy, good ad numbers.

might make good investment banker. so he brought him over. ace greenberg according to steve cutler, according to documents not to try to deplatform epstein because he apparently ran foul of what is known as the felony clause for clients. so you know, listen i have no way of getting in touch with ace's, his siblings other his representatives. i asked jpmorgan for a comment but it's in the court filing. >> interesting. >> again very messy stuff that is why i think jpmorgan will settle this thing. liz: interesting stuff. you may be right. we'll watch. charlie, thank you very much. closing bell, we're four 1/2 minutes away. dow, s&p starting off shortened trading week in the red. nasdaq keeps popping into the green driven by tesla and nvidia both at session highs but nvidia looks to close at a record high. the index is only come position it gone positive briefly.

the dow is losing 225 points. this was interesting. we got housing starts in may. they saw a month month over monh increase of 21.7%? that is the largest percentage increase since october of 2016. our countdown closer says i know just the stock that will benefit from today's housing data. joining me mjp wealth advisors president brian vendik. brian, what is it? one name can capitalize on all of that? >> hi, how are you? one name when we think about returns in the market is we want to look at value-oriented play in the infrastructure space and we like ferguson. i like ferguson which is a uk-based company. has a distributor network here in the u.s. that is looking to grow and it focuses on infrastructure, plumbing, hvacs. the reason why i say that. with this housing data coming in

today it is going to put charge on the fed to keep this fight on inflation which i think will put some pressure on these tech stocks as you mentioned that keep beating the market higher. you have to look for value in some other places and ferguson is a very attractive pe. a great return on equity profile. plus, as the fed eventually takes a step back from raising rates, i think you have to look at the dollar getting weaker moving forward, which favors international equities over the balance of the year. liz: you are concerned about tech but you have a tech pick. that's micron. micron has been volatile but certainly had a win year-to-date but why specifically micron? >> absolutely, liz. so look, we are bullish on the longer term track of a.i. innovation. something that will play out over the next five to seven years. but when you look in the space, dram, and very well-established mature company like micron really hasn't had the same type

of run-up we've seen in other names. liz: nvidia, amk. >> -- come to the storage space where investors looking for flash memory storage and other dram to support data and housing data as part of the a.i. innovation. liz: s&p, broader market talk here, we got to do it, brian, has been up five weeks in a row. the nasdaq up eight weeks. how much longer do you see this kind of muscular movement in the markets? >> well we definitely think the markets are poised for a little bit of a breather especially as we move into powell making some comments in front of congress this week and upcoming fed meeting at the end of july. again we have to look at quality of earnings. we think year-over-year earnings are going to slow. demand is slowing in the economy. say right now, use opportunity where the market pulls back as a means to buy a little bit on these dips but keep a cautious eye over the next three to six

months. i think where investor sentiment is going to change is more balance of the year as we move forward through the summer, because you start looking at earnings outlooks next year that are poised to rebound. liz: yeah. that's the thing, earnings. you've got to watch the earnings. they do often hold the leash when it is time for them to all start spewing what happened during the quarter. brian, it is terrific to see you. thank you so much. >> thanks, liz. liz: brian ven dig. here comes the closing bell. we're six seconds away. dow jones industrials down 233 points. this is a holiday-shortened week. s&p looks to close down 19. nasdaq down 17. [closing bell rings] russell down eight points. transports lower by 52 tomorrow, the wunderkind 14-year-old who will work at space ex, a fox business exclusive. we'll see then.