company, they say these men were true explorers who shared a distinct spirit of adventure and a deep passion for exploring and protecting the world's ocean s. the statement goes on to say our hearts are with these five souls and every member of their families during this tragic time we grieve the loss of life and joy that they brought to everyone they knew and of course the world has been watching when this submersible went missing on sunday. it triggered a massive search effort. unfortunately, those efforts were in vein, so again, the missing submersible, the ti tan, with fire people on board, we heard earlier today that debris had been found and now confirmation from oceangate the company operating that submersible that all five crew members have been lost. our time is up but liz claman over to you. liz: what we're going to do, ashley, is we are going to keep an eye on this. the coast guard is basing itself in boston at any moment official s there will hold a news conference recording what is now

believed to be the deaths of those five people on board the sub. it is starting right now. let's listen in. >> discovered the tail cone of the titan submersible approximately 1,600 feet from the bow of the titanic on the sea floor. the rov subsequently found additional debris. in dow jones industrial you'll station with experts within the unified command, the debris is consistent with the catastrophic loss of the pressure chamber. upon this determination, we immediately notified the families. on behalf of the united states coast guard, and the entire unified command, i offer my deepest condolences to the

families. i can only imagine what this has been like for them and i hope that this discovery provides some solace during this difficult time. additionally, we've been in close contact with the british and french to ensure they are pullly apprized and that their concerns are being addressed. the outpouring of support in this highly-complex search operation has been robust and immensely appreciated. we are grateful for the rapid mobilization of experts on the undersea search and rescue and we thank all of the agencies and personnel for their role in the response. we're also incredibly grateful

for this full spectrum of international assistance that's been provided. the rov's will remain on scene and continue to gather information. again, our most heart-felt condolences go out to the loved ones of the crew. we'll now take questions. >> [overlapping speakers] reporter: can you talk about the delay in reporting the missing and what impact it had on the recovery? >> this was a incredibly complex case and we're still working to develop the details for the timeline involved with this casualty, and the response. we'll provide that information.

reporter: what other debris have you found and have you found any trace of those? >> so this is an incredibly complex operating environment on the sea floor. over two miles beneath the surface, and so the remote operating vehicle has been searching and it is highly capable and we've been able to classify parts of the pressure chamber for the titan submersible. let me refer to one of my under sea experts here, there paul han kin to talk about the nature of some of the debris . >> thank you, admiral. so essentially, we found five different major pieces of debris that told us that it was the remains of the titan.

the initial thing we found is the nose cone which was outside of the pressure hole. we then found a large debris field. within that large debris field, we found the front end bell of the pressure. that was the first indication that there was a catastrophic event. shortly thereafter, we found the second smaller debris field. within that debris field, we found the other end of the pressure hull, the aft which was basically comprised of the totality of that pressure vessel. we continue to map the debris field and as the admiral said, we will do the best we can to fully map out what's down there.

reporter: it's a very difficult question to ask, but it will be an important one for the families, of course. what are the prospects of recovering the bodies and the missing crew? >> so the question was related, i'm restating the question from the standpoint of sometimes it's hard to hear the question here. what are the prospects for recovering crew members, and so this is a incredibly unforgiving environment down there on the sea floor, and the debris is consistent with a catastrophic implosion of the vessel, and so we'll continue to work and continue to search the area down there, but i don't have an answer for prospects at this time. liz: the worst possible news. the five on board the

submersible, gone. gone, and the coast guard is now saying that they have found obvious pieces of wreckage including the nose cone and the pressure hull and the debris and the way that it looked as best they could see from the horizon arctic which is the remotely-operated vehicle down there looking at the ocean floor two miles down, indicated that a catastrophic event had occurred. all five on board have parished. what we're going to do is monitor this and get you any news later as soon as we get it. things that may be of increasing value here, but the sad news is that this is not in any way a sign of life or a happy ending. hard transition here but let's move to the markets and take a look at stocks right now. right now it's the dow and the russel in the red. any loss, no matter how small for the dow, s&p or nasdaq is going to mark the fourth sell-off in a row. let's check the numbers here we are 3:07 p.m. eastern time. the dow is up about one point.

the s&p higher by 13. the nasdaq is really charging higher by 112 points at the moment, and yes, so the dow is kind of straddeling that flat line. russel 2000 down 10. the dow be a lot higher if it weren't for boeing. boeing is the biggest drag on the dow right now down about 2.5 %. you'll see we've paired it here with the stock of its major supplier spirit aerosystems which is tanking 9% now. spirit makes the fuselages for boeing's top selling jet the 737-max. so we now have that production at the spirit aerosystems plant suspended in wichita. that factory production area, not churning out any of the parts after employees voted this morning to strike. the union has rejected spirit's new four-year deal offer. the nasdaq though looks pretty healthy here. amazon is powering it, charging higher by 3.8% on the news that amazon web services will invest $100 million in generative a.i.

innovation center where experts are going to help companies build bespoke a.i. solution customized a.i. programs for their own customers so we've thrown in apple which is up one and one-third percent to $186.48 very close to its record high of $186.99 so we're keeping an eye on amazon at the moment. regional banks getting hammered after fed chair jay powell revealed today during his senate testimony that the fed has identified and is working with certain regional banks who have heavy exposure to commercial real estate loans, which are due to reset at much-higher levels. the revelation came when senator bob menendez of new jersey invoked the 2008 financial crisis which swamped banks and took down the economy. >> i'm concerned it's a ticking time bomb that brings us back to i don't want to be back in 2008

when i was asked to do extraordinary things. >> we certainly don't want to be there either and so we're being pretty proactive about reaching out to these institutions and trying to help them get through these significant issues. again it's not all smaller banks it's just some of them have high concentrations in real estate and it's not in the large banks which of course was where the problem was in 2008 and 2009 liz: so powell, no, he did not name names of which regionals but right now just about every regional we cover is in the red. metropolitan bank is swooning to the tune of about 5% and 4% respectively. bank of ozark down about 4%, zions lower 3%, valley national down 3.25%. so hawkish, so let's get to the floor show from the floor, trader scott bauer and rbo & company managing partner jack oliver. scott what's keeping the market afloat after powell said no rate cuts anytime soon, and that policy makers overwhelmingly say

one to two more interest rate hikes are appropriate. >> that is such a great question, liz. this has to be one of the most- hated rallies that i can ever remember, in my 30-plus years of doing this , but i think what people are looking at is better earnings that came through. some earnings guidance that actually looked fairly decent moving forward, and even though we've said this " seems now for three, four, five times, maybe now the light is at the end of the tunnel for the end of the rate hike cycle even though there's going to be potentially one or two more. that being said, there are so many headwinds to this marketplace right now but yet we're hanging in there, and my feeling, liz, is if we get through today, tomorrow, get into monday and we get back into rally mode, i think we're going to get to a point here where the shorts, the bears, they are going to start getting to that capitulation point which kind of inversely would work to

the markets advantage. push the market even higher, and that's where it could be very dangerous. speaking of dangerous, the vix pit is right next to me here. huge, huge buy today, liz, of the july expiration, 22 strike calls, so about 110,000 of those were bought opening, at about $0.66 so some big player out there is looking for the vix to make a pretty big pop within the next three to four weeks. liz: yeah, but right now, it's below 13 at the moment as you see 12.95. it just went positive a second ago today, so for the session. we're watching all of that. jack if you look at the strength here it's consumer discretion. it's healthcare, and this is a sector that you've gone elbow deep into at the moment but which specific names? is there many sub sectors here? where do you put your capital? >> specifically in healthcare, there's three names that we like

abvie, johnson & johnson, and z oetis, and zoetis is the leader in the companion animal market and sort of bringing scott into the conversation the last time i went to my vet it looked like the trading floor at the cboe, there was such a waiting line outside the lobby so we think the trend of pet adoption is strong. we think zoetis is well positioned but in general we like the sectors that haven't done as well this years staying away from the a.i. names et cetera. if you look at the s&p 500 equal weighted, the equal weighted by market cap is only up 5% and it's trading at a forward next year earnings yield of over 7% about 14 times, so we think there's still a lot of value in this market, and would concur that as we get closer to the end of the fed tightening cycle, there will be less uncertainty in the market and we'll hopefully bring back one of those hanging out in t-bills.

liz: to the s&p point here, scott we're at 43.77. what's the next resistance level as you look up to the sky where is that next point you're watching specifically? >> exactly. you're looking really all the way up, honestly, at about 4,600, which is why i made my point that if we get through this week and then monday we come in and the markets higher, that could be the point that the shorts and the bears say that i've had enough, because they are seeing a lot of dead air above until a real significant resistance area, liz the volatility though that we're seeing, the volatility in the s&p options are the lowest they've been in probably five years. implied volatility for at the money options in the s&p going out to next friday is 10%. that is just unbelievable. so when we see that like this that usually coincides with

a market that is grinding higher and again, i'm fearful that if these bears start to capitulate on a big upward move we're getting a massive move which people like but then watch out. liz: okay but if you look at say , for example, what has been a play recently. money-markets, treasuries. right now, jack, we've got the two-year at i guess going back to march highs, so couple months here. its climbed and climbed and same with the 10-year that's looking good at about 3.79%. do you like those or i know you don't look at the general direction of the markets but is this an overplayed trade? >> yeah, potentially, i believe so. i think as the economy weakens, and softens up, you're going to see money run into the longer end of the curve and interest rates are peaking. at the end of the day, inflation , the fed's preferred index, the core pce rent is running at 5%. it accelerated in the last

quarterly reading, so take your t-bill of 5% minus 5% and then oh, yeah if it's in a taxable account apply your income. an income rate you've got a negative return so yes, as things settle out and the feds plans are a little more clear, i believe that people will start to drawdown their money-market funds and treasur ies and come back to the market. liz: jack and scott, thank you very much. check the dow. it has flipped back into negative territory. down about 6 points. we are coming right back. later on in the program, mario gabelli, the billionaire making fresh stock picks. stay tuned. . like your workplace benefits... and retirement savings. with voya, considering all your financial choices together... can help you be better prepared for unexpected events. voya. well planned. well invested. well protected. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get

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year-to-date there have been more than 168,000 total job cuts in the tech sector, but as quick as you can say soybean, some have already moved from silicon valley to sonoma valley. cnh industrial already hired 500 software engineers from amazon, tesla, microsoft, rivian , and ferrari to boost its ad tech production. the agriculture and construction equipment makers cashing in on the a.i. boom for autonomous solutions as farmers struggle to hire workers. so let's take it live to the tra tori farm in sonoma valley where ceo scott wine joins us in a fox business exclusive. scott, what are they growing there and how is cnh involved? >> well good afternoon, liz. it's great to be on fox business here with tim and his wife, they have a wonderful operation growing not just harvesting grapes but also olives and

really a direct to consumer model and really what tim has got a tech background as well so he's marrying technology with our vehicles, and it's really fun and inspiring to be here this morning. liz: well how so? ag tech is a very fast-growing part of your industry but talk to our viewers about exactly how you weave in new technology those engineers from silicon valley are so excited to come join and help make. >> well you know, we've been investing in ag tech for a long time and really the precision farming has mostly been a cash crop, so corn, soybeans, that type of thing, and the large much larger farms. what we're trying to do and what tim and the team are doing here is how do we marry that up with the vineyards and the olive farms so that they can take advantage of our autonomy, our automation to reduce the reliance on labor. labor is very expensive in some parts of the world and unavailable in other parts of the world and where we can bring

those solutions to allow them to get the same or better productivity and yield with less labor, it's a win for everybody and we have the technology to do that. now the raven acquisition was a great boost in the arm and we're really looking at how we can use our own capability. you talked about the software engineers. how we're advancing those solutions rapidly for our customers. liz: we're looking at some of the vehicles, and there's nobody sitting in the seats. i like the red vinyl interior. it's pretty nice, but these are empty, and yet they are continuing to work which allows farmers to have more productivity. they can be back in the office or back at their farmhouse figuring out when they are going to sell this stuff and just be able to do other jobs that are so crucial and important. talk about your brand new tractor that's come out that runs on methane. >> you know, we've been, our sister division fpt that we spun off with last year really has

long term history with cng and the truck space so we took that engine with record reliability and used the lng that comes off the beneman farms so we acquired beneman late last year and are really excited about how they capture, clean and store methane that we can use to power a tractor. you get the same horsepower you'd get from a diesel engine at a significantly improvement in sustainability, a negative carbon environment. we can use it to power the electricity on the farm and really, methane is available not just on dairy farms but anywhere you want to get compost. you can use and capture methane so we think it's a really great opportunity. not only for sustainability and cost savings, but also really to give our customers the solution that they can get tremendous value from. liz: what's the demand for that? >> well, we're just in trial phases with it now, but when the

customer that's using it in southern england right now is one of the best advocates we could ever have, because what he and his wife are on their small dairy farm are able to do is really they are able to expand faster because they were limited on their ability to get more electricity from the grid and now, they have electricity they are selling back to the grid so again, a great focus on sustainability that's beneficial to the farmer we really like. liz: wow. it's a great story, and we love that you're hiring and snapping up all of those tech unemployed out there in silicon valley. thank you, scott. we'd love to see you again we appreciate it. >> thank you, liz. have a great day. liz: we used to run polaris, and those are cnh vehicles behind him. scott, thank you very much. cnh has been a favorite stock play of billionaire mario gabelli, so for a while now, he's loved it. you've got to stay tuned. coming up, mario is joining us in just about 10 minutes with his newest picks, plays, and where he see the markets going

from here. all right, from the farm to the table. olive garden's parent company da rden restaurants dip ping after earnings. what's eating into their profits we'll get you that story next plus the silicon valley showdown that's getting personal and physical could come to a head in the vegas octagon? come on now. that's ahead in pop stocks. closing bell 35 minutes away the dow down 24 points the s&p holding on the gains of nine and the nasdaq better by 95. we are coming right back on the "clayman countdown."

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liz: fox buzz alert. we want to show you fifth third bank shares they are at session lows right now down about 3%. it's not like there's any massive headline here, but the underlying read between the lines is that fed chair jay powell just spoke to the senate as we told you at the top of the show and said not only that they are not going to cut rates, that they are one to two more rate hikes planned or at least in play, and he is working. he and the federal reserve are working with some regional banks on helping to get their balance sheets fortified ahead of what could be a lot of loan resetting on behalf of commercial real estate. so, obviously, he didn't name names, but fifth third is struggling at the moment. we're just keeping an eye on all of the regionals most of which are down right now. when billionaires attack, two

big tech stocks are caught in the crosshairs of a battle between their ceo co-founders. tesla elon musk and meta mark zuckerberg have agreed to a cage match. come on, children. really? it all started on tuesday when musk responded a tweet about the launch of meta's twitter rival thread. musk said i'm up for a cage match if he is. zuckerberg whose been training in jujitsu for the last year screen shotted that tweet exchange but responded on his platform instagram "send me location." now musk suggested the octagon vegas should be the location for the cage match which i promise you will never happen. just keep in mind, zuckerberg has been training. darden restaurants let's take a look down about 3.25% after the parent company of olive garden reported better-than-expected quarterly earnings. however, disappointed with when it came to its fiscal 2024

forecast. darden also has capital grille and bahama breeze says it expects softer fine dining sales through the fiscal first quarter overstock shares, look at these at the moment. they are jumping nearly 19% after the e-commerce company won the auction for bed bath bed, bath and beyond's digital assets and intellectual property. overstock will pay $21.5 million the deal does not require that the stores remain open. well, you know, whether it's overstock for furniture or discount groceries more and more consumers are cutting costs where they can and now, you can count even the high earners among those consumers. a recent study from in-market shows people making more than six figures are heading to discount chains in droves, in order to save some cash. madison alworth is inside a discount grocery store in new york with the latest. so, even the wealthy are penny

pinching? liz: liz, absolutely. a store like this is drawing those six figure income earners. just take a look at the parking lot to see what i'm talking about. we have cars, drivers here coming into shop that drive bmw 's, porsche's and alfa romeo. the reason that they are turning to a store like this is for deals like this. they are looking for those bargains because of sticky inflation. now, bargain shopping, that's sticking around. another thing that is driving this trend though is also that the stigma around discount shopping, that seems to be disappearing as inflation sticks i mean, just take a listen to what the ladies had to say. >> i can afford to shop in these other places but why would i spend my money if i can get a better deal here? >> i'm known amongst my friends as the person who knows their prices so i do know my prices and they call me and they come here now. >> honestly, i come here for my grandkids, for the toys.

reporter: so, the number of folks that make six figures that shop at discount stores, specifically dollar stores, that's gone up 4% in just one year. discount stores are using this opportunity window as an option, an opportunity to expand. lidl has 175 stores in the u.s. and they are constantly growing and actually adding more stores to manhattan. a benefit for them is that once a shopper visits it becomes habi tual. a one one-time shopper turns into a weekly or monthly shopper. you see that at aldi. they say the number of visits has increased 9.3% over the last three years. liz, i live in new york city where grocery store prices are super-high, so you better believe i will be stocking up on my groceries before i head back this afternoon. send it back to you. liz: how do people think the wealthy got wealthy? by penny pinching, by being smart about it, right? reporter: yeah, i mean, absolutely. you want to save up so you can

buy that alfa romeo and the way you do that is getting $0.30 off your diet coke. liz: [laughter] i like your thinking. drops of water on a rock eventually make a dent. madison thank you very much. coming up, billionaire investor mario gabelli ready to reveal where he's looking for , look he's looking right now, for opportunity in the markets and why he's investing in areas others might call too dangerous and too unloved. closing bell 25 minutes away. dow jones industrial has increased its losses now down nearly 70 points coming right back with mario gabelli, next.

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." we also know technology has had such a great run-up year-to-date if you look at the nasdaq, which has so many of those listings of big tech its gained nearly, well , year-to-date, 30%. so with a clearer picture of the feds next move, and six months of market action under our belts already, is it time to focus on the process of individual stock picking versus jumping into entire sectors? mario gabelli has made billions off doing just that. he's here in a fox business exclusive to reveal his stock picking secret. he loves the unloved. mario, i hardly knew, you've got a soft heart here. how do you pick an unloved stock >> liz, i'm not talking about you. i'm talking about the stocks. okay? i'll give you an example. here is a document, okay? 300 pages. you have to read this. what it is is the fact that it's taking a baseball team, a baseball team, looking at sports

, looking at liv, looking at golf, looking at soccer, looking at american football, looking at basketball, looking at hockey. what are the values and who wants to own them? so we go out and we create grids like this with dr. john malone and we track how they look at coming to work everyday. good management, good ideas, and how they make money, so atlanta braves is selling at $40. on july 17, july 17 of this year , liz, they are going to spin the company off into from a what they call a "track ing stock" to a c-corp., and it gives a reading this , for anyone, that's interested, could understand how major league baseball works so that's what we do everyday. liz: okay so you're looking at that tracking stock, and of course the atlanta braves is part of it. john malone said he's going to split that part off from the tracking stock but mario, what value is there in buying into a tracking stock now before

that actual going public moment? is there, for example, enhanced value in doing that now? >> well, on the other side of the coin, think about you as an individual where we try to grow wealth and allow endowments , state retirement systems, pension plans and non- u.s. but the taxable clients that are in the mutual funds, which is about half of the money , they like to age things so we want to be there well in advance so that 12 months later they only have to pay a long term capital gains tax, because this company is going to be sold, and it's going to be bought by someone that has the vision of saying atlanta is a great town. baseball team is doing great. the land around it in battery park and truist stadium are terrific so that's it so that's what we do. we think about two years out. we look for the catalyst. we try to figure out what's going on in terms of sports and entertainment and that part of the world that we are dealing in , so, liz that's what we do

everyday. liz: hold that document up because again, a lot of our viewers don't have the time or the understanding of reading it >> oh, no, no, i understand that but one of the family members is understanding how a certain sport works, and this year will tell you how major league baseball works, and its kind of intriguing. you don't have to look at it but there's someone out there that might be interested so play ball liz: talk about live sports. there are certain companies that either own teams or parts of teams, and then you've got the ones that are broadcasting them. so as you look for the unloved names in there, what specifically on the balance sheet gives you that flashing red light that says this one is unloved but its got potential. >> well there's no question that we're going on mlb is doing a variety of things. what are the locations well baseball play but on the other side of the coin think about it. the latino market is becoming

very important, the hispanic market in the united states because of the growth in spending, the fact that we need immigration, that we need population growth, we need to make it easier for people to come in and work, and so what companies also carry sports? who has soccer? american football. liz: fox. >> who has the european football so telavisa which is a $500 stock is extraordinarily well managed and they own 45% of un i'mvision, and that company is going to go public sometime in the next 12 months, so can i make a double or a triple three years out? short-term obviously everybody is worried about what's going on in broadcasting, what's going on in advertising, what's going on in this , but a year from now you're talking about political spending, and you're talking about sports and excitement, and univision going public and this company owns 45% of that so those are the things in how we look at it. the other part is obviously how

the gambling surge is behind them when the professional and amateur sports protection act was changed, and it was passed to allow gambling. there's a surge in advertising, so you know, those things we look at and we pay attention to them. liz: the aerospace industry is huge. obviously we've got boeing story today that one of their supplier s, spirit aerospace is staking. that aside to you have a name related to it because these parts are in great demand? >> let's do it a different way. we believe that leisure and travel is coming back and aircraft demand for aircraft is improving. i wore a tie with an airplane on it because three or four of my teammates were at the paris airshow and at the paris airshow boeing and airbus is part of that, gave out new projections. their projections are that we're going to need, we're going to need 40,000 new airplanes for now and the next 20 years. if that's 2,000 per year, that's

150 per month. wow. that is a very good build-up and obviously, every so often you get a little problem with suppliers like the strike out at wichita with spirit, so but independent of the spirit issues you are basically looking at what companies, not only boeing, doing well but all of the vendor s to boeing and airbus as an example on commercial aviation crane, which we talked about last time i visited you, located here in this area, has about 55 million shares of stock s about $80. they are going to earn close to $4.25 and cash on the balance sheet of almost $5 a share, and they are going to do quite well in that environment. then you've got companies that i happen to like, like tech strong , good management, good business, when they have the replacement for the "blackhawk" and the aerospace and defense sector but on the aerospace side lots of things. so those are two and then el harris buying aer oxjet

assuming lina khan, at the federal federal trade commission understands we need this thing accelerate the companies deployment of, for example, they make the rocket motors on the j avelin. they do data launches for rocket s going into space. this company has done well under eileen drake and do better with el harris. liz: mario great to see you. we'll put your picks up on our facebook page, facebook.com/liz claman. as always good to see you. >> and just i'll point out that scott vine, who you had on before, i'm a big fan. i own case new holland. i'm buying the stock at 14.5 with 1.3 billion shares and he's going to make you 50% in two years thanks, liz. liz: he just gave us quite the tour of how those tractors are doing, very interesting stuff. good to see you mario. charlie gasparino next, on goldman sachs news.

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♪. liz: angst over leadership at goldman sachs has some people looking who could take over should david solomon step down? but he's not. charlie, right? >> well you just heard it, i just heard it from source very

close to the matter what they're telling the fox business network. this is a headline, should put it out there, there is no movement to take him out. the board is not weighing it. liz: they have not posted the job. >> they have not posted a job listing in "the new york times." can you imagine what, listing in "the new york times," rement for d.j. sol. we have him to kick around a little longer. but that doesn't mean there is not a lot of consternation surrounding the fraught tenure, four year tenure of david solomon as ceo. there is clearly, the board's clearly looking at that. i'm not saying they're looking to get rid of him. they're clearly looking, clearly worried about the continued angst over senior people in there over his leadership style. also on top of that incoming from the outside.

clearly lloyd blankfein is like at odds with him. there is no doubt about that. he doesn't like, he -- liz: lloyd who used to be? >> ceo. liz: not there anymore. >> not there. liz: all exs are upset. >> all my exs come from texas. i couldn't -- liz: they want attention. dude, you're note in the c-suite anymore. >> he thinks the d.j. thing he does, he is a deejay at high-end parties. liz: who are we talking about? >> there is a guy that could step in to fill his shoes. his name is john waldron. again he is his number two. looks like his hanukkah picture or excuse me bar mitzvah. liz: bar mitzvah. >> who is that guy? that is not him. that is not john waldron. in any event he could step in. here is the problem with waldron if he was to step in, you're kind of getting a clone of david solomon. they both came up h up the same way, they were both outsides

came from goldman from bear stearns. both investment bankers. all clip the traders probably have an animus. liz: i think that was him. >> maybe it was. liz: it is. >> looks like a young version of him. liz: he is good looking. >> good-looking guy. okay. look at him. yeah. liz: a little portrait of dorian gray action there. >> could be on a wedding cake. in any event -- liz: or bar mitzvah cake. >> bar mitzvah cake. do they have those? liz: they? yes, we, we have those. go on. >> listen to you. listen to you. remember next time you start talking about spaghetti sauce. liz: which is never. go ahead. >> yes it has, everybody out there. again, you're getting kind of a clone of solomon if you put him in there. the thinking is the board isn't going to make this case right now. something sort of digest as you read all the negative stories about david solomon, still number nun one in investment

banking. still make a lot of money trading. since saloman is ceo, stock is up 50%. s&p up 70%. keeping track with the market. they had a bad 2023 they laid people off. liz: charlie, thank you. >> someone say something to me. liz: your invitation is in the mail. good to see you. closing bell, we're three minutes away dow on pace for the fourth down day in a row. s&p and nasdaq look to snap their three-day losing streaks. joining me henion and walsh cio kevin mahn. he currently manages 6 billion in investments you heard what jay powell said? >> i did. liz: you don't look like charlie gasparino. a change artist. market moves higher. some strategists the macro backdrop is so difficult. is it? >> in reality we're either at or very close to the end of this

rate hike cycle. if that is true i think we can engineer a relatively soft landing f that soft landing occurs the fed may cut-rates last year. h. just as the pboc announced rate cuts this week. in that case investment opportunities abound. liz: the bank of england surprised hiking rates 50 basis points today. >> on the other side. liz: they don't want to be caught in that position where they don't kill inflation fully. >> yes. liz: neither does the fed. that said we continue to climb this wall of worry. the s&p has blasted through some ceilings and continues to move higher so what do you like here? >> one area weigh really like, liz, is biotech, smaller cap biotech. we learned earlier this week acquisition of dice therapeutics by ely lilly. $2.4 billion acquisition on top of earlier acquisitions from the likes of novartis and merck. we think that trend will continue. big cap pharma flush with cash,

inflated drug prices. getting pressure to get the drugs lower, large revenue producing drugs are coming off patent. they will have to have innovative health care owe solutions. liz: instead of agreeing organically they will buy it. >> will buy it. we like it in the health care innovation trust. we like rocket pharmaceutical. another company called crystal biotech work on gene therapy treatments that cure rare chronic diseases and disorders. liz: good ideas all around. kevin, great to have you. [closing bell rings] here are the bells, choppy day of trade. the dow down four days in a row. nasdaq, s&p as i said they cracked through that losing streak. we'll see you tomorrow. it's friday. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. it is a very sad day today. tragically we learned that the