compare to this time last year. interesting. meantime, harrison ford's indiana jones is also coming to theaters at the end of this month, and mcdonald's has a you were purple milk shake in honor of the character grimace. and not to be outdone, toy giant hasbro, oh, yeah, it's bringing back the furby, the iconic '90s gibberish-talking furball has a few upgrades. it's interactive and responds to hugs andic things just like me -- and tickles. own toking a piece of not -- owning a piece of nostalgia will cost you $70 # apiece. they're kind of fun but they're kind of creepy. anyway, that's it for "making money." charles, with by the way, will be back on monday. and from malibu barbie we go to beverly hills liz. liz claman, over to you. liz: oh, i was full blown suzie

ez bake oven which they've banned, no furby for me. thank you very much, my friend, ashley. good to see you. one hour left before we close out the week. not only is the dow on pace for its fifth straight drop, the longest losing streak since may 25th, but the s&p 500 is on track for its worst week since the collapse of the silicon valley bank and that, of course, was back in march. so you've got it down about 1.5 percent if on the week -- 1.5% on the week. dow looks to close 1.8% and the that is that damage's been the real stalwart of the major indices. it is set to snap a an 8-week winning streak, the longest streak since march of 2019. you've got to go way back that long, 8 weeks long. so the retreat comes a day after federal reserve chair jerome powell reit it rated to congress this week that the central bank

sponge thely supports tightenins tightening one to two to more times this year. that gets people a little freaked out to. they think interest rates have gone too high, too quickly. if you look at the dow heat pap map, you can see what's losing, what's winning, and at the very bottom you've got a mix. if you flip it over, the but chip winners, there are just three right now and just by a fraction apiece, visa, intel and merck at the very top. investors are scurrying to the safety of treasuries, and yesterday after spiking to the highest level since june 13th, the yield on the 10-year right now began to the fall, it's down about 5.3 basis points to 3.745%. you would expect a risk-off day to hurt tech, right in usually that's it, right? people go into safe havens and away from the risk names. huh-uh. apple slightly lower, but earlier it touched a record high for the second straight day.

the stock is notching gains as ceo tim cook joined ceos of microsoft, google and others to visit the indian prime minister modi in washington today. in fact, fox business was there catching up with tim cook after the meeting. >> reporter: how important do you think working in india is to the future of your company? >> india's important for all countries. liz: yeah. and you know what? a lot of ceos are rushing to the build out in india. while our crack d.c. team chases down top tech ceos, we're chasing down the direction of the money flows and the economy. first to the floor show. conference board chief economist dana peterson is here, and from the floor of the new york stock exchange, trader teddy weisberg. teddy, is the selloff just kind of a releasing of a pressure valve after a really strong runup? what signs are you seeing at least on the floor of the new york stock exchange that the tech rally might resume or recoil next week? >> well, i think, liz, as you pointed out, apple made a new

high earlier today, meta made a new high earlier today. you know, big cap tech continues to be the stellar performers, they have been for months. ask even though today's a sloppy day and it's a sloppy week, i think that continues to be the best possible trade. i mean, i think it's a crowded trade, for sure, but it's the best possible trade. the rest of the market, the vast majority of stocks continue to be stuck in this trading range as a result of basically the inflation issues, higher interest rates. you know, we had a pause in interest rates and then powell basically said we're going to keep raising rates. well, you know, that's the last thing the market wants to hear. the only good news perhaps overall is that we're coming to the end of the quarter, only a couple of trading days left. we'll get into second quarter earnings season real soon is. normally, the market does better then, so helpfully that'll be green shoots as we move into

early july. liz: teddy just mentioned inflation. a week from today we get the pd fed's preferred, their favorite inflation indicator, core pce, personal if consumption expenditure, for the month of may. in april, the most recent one we have, it came in at 4.7% year-over-year. that's considerably far from the 2% target that the fed is looking for. what will it tell us? what are you expecting from core pce? >> well, i think it's probably going to continue to to remain sticky. the big sticking point is the fact that rent, which reflects housing activity 18 months ago, are still very elevated. we're probably still about a month orb so away before we start seeing those reduce some of the pressure on core cpi -- core pce. liz: well, if you take rents out because sometimes you've got a lot of experts saying, well, remove rent. i don't know why. rent and food are two the big techs pendtures for every individual. but if you removed that, would you expect to see inflation come

down in a more meaningful way? >> well, that's the super core that people are talking about where you take out food, energy and rent. even still that's been pretty elevated because it's services people want. ask and as long as people want to travel, go to restaurants and hotels, we're going to continue to see upward pressure on those measures. liz: yeah. i'm looking at some of the measures right now, teddy can. light sweet crude down about half a percent, below $70 a barrel. arbob gasoline $2.5 the, that's wholesale -- 2.500. but the consumer at least has a bit of extra money because they're not spending as much on gasoline. it would, it would reason, right, it would stand to reason that people would then take that money and put it where? is it travel and leisure, or is it actual stuff? >> well -- >> i know where i'd put it, liz, and you know what the answer's going to be -- liz: your boat. >> cash is king. cash is king because we're in

unsettled times, and that short-term treasury trade, in my opinion, and now it's going 13, 14 months, continues to be the best trade for those folks that can't figure out what to do. and i can understand why because it's a very, very difficult stock market environment x a few high profile socks. when you don't know what to do, sometimes the best thing to do is to do nothing. and now you can get paid 5% while you're doing nothing which is a lot better than 0 # which is what we were looking at 12 or 13 months ago. liz in fact, you get 5.262%, and the 3-month is at 5.3%. that bring withs me to you, dana. when you're looking at fixed income world and you're seeing that fear trade is to pile into treasuries, at what point and what specifically should people be looking for in the economy to turn that anticipates, okay, maybe things are starting to look better? it's okay to go back in to stocks? >> i think, certainly, we need

to see consumer spending on services cool off and also more weakening and spending on durables. certainly, durables have already been hit by the fact that interest rates are high, so it's hard to finance. but it's those services, most people use a credit card, not financing, to buy services. so we need to see that soften. we also need to start seeing a little bit of weakening in the labor market. certainly seeing fewer vacancies for jobs out there which would send a a signal to consumers, hey, maybe i shouldn't quit, perhaps i should sit right and probably save a little bit of money right now. liz: save a little bit of money, sure. but i i knowty, he always has a couple of stocks in his shopping basket. teddy, we've got the ceo of norfolk southern coming on many a few minutes to discuss the hearing in east palestine, ohio. devastating train derailment back in february. so alan shaw, the ceo of norfolk southern, will be here. you're actually picking a different name in the

transportation sector, specifically a railroad. not this one. which which one? >> that's right. by the way, liz, we know norfolk southern and we own union pacific. but now the new one that we're really interested in is canadian pacific because canadian pacifir what the ceo says about this -- they just merged with kansas city southern. and most of the railroads, there's only three or four major railroads left in the country, all go are there east to west. but canadian pacific, with the merger of kansas city southern, goes from north to south. which makes it very unusual. so they go from the canadian border, in essence, deep in to mexico, to all the mention e can ports. they're the only ones that have of that footprint, and i think longer term if you're going to own a rail -- i'm not selling nor poke and southern, and is we're not selling gone union pacific, but you might want to get canadian pacific also.

liz: darren that -- dana, they move so much in goods, in chemicals, in energy. how do you look at economy? what tricks coyou have? is it high grade copper and the demand for that or lack thereof? is it rails? tell me what you look at that gives you an indication of where we stand. >> well, sure, we look at some of our own indexes like the leading index which shows for the 14th month in a row that things are slowing down. but when you look at commodities and goods, certainly there's still a lot of demand for thinking that's going to deliver energy. but goods, in terms of consumer goods, are probably going to be weaker because people have bought it already. you don't need five washing machines or a thousand lawn chairs, so you're going to stop spending on that, and that's probably going to affect the transportation sector to. liz: good to have you both. dana peterson, teddy weisberg, thank you so much. have a good friday. all right, big tech a big loser at least on session, but year to date, you guys know,,

it's been onal an absolute tear. nvidia up nearly 200% year to date. right now it is slightly down, but our next guest -- there it is. he's here to tell you why he won't even touch nvidia. miller value partners' chief investment officer bill miller iv is about to name the stocks he not only will touch, but is already scooping up. there he is. closing bell, 49 minutes away on this pride month and on this friday. "the claman countdown" is coming right back with a little culture club. ♪ ♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this.

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liz: silicon valley's biggest leaders made their way to

washington, d.c. odd. president biden and indian prime minister modi met with tech industry the leaders to help deepen economic ties and forge partnerships. some of the top ceos in attendance at the white house today were apple's tim cook, alphabet's sun car by chai -- sun daughter by chai. this as the markets have largely been carried by these big tech names this year. apple up 43% year to date, microsoft up 39, alphabet up 38%. but miller value partners' new majority stakeholder bill miller iv not buying into that part of the hype. the chairman and cio joins me now in a fox business exclusive and, yes, for all of those who are wondering, he is the bill miller's son. bill millerring of course, of blake mason and the big hero of the markets for many years. nice to see you. >> nice to be here. thanks for having me. liz: you have said you won't touch nvidia at all. nvidia has been an unbelievable

winner. what do you have against invid what ya? >> well, we like to look at things from a if fundamental value perspective. so let's a take a look at what sort of cash flows these them firms are going to produce over the next 2k5eud, and what are we paying to get those. and if you look at a lot of these big tech name, hay trade at outrageous multiples, they now comprise the top names in the s&p 500, now comprise 25% of the index. the top 1% of names comprise 25% of the index. historically, when we'ved had kind of concentration and maul caps have done as badly as they have relative to these highly priced tech name, you see the bounceback, so we're betting on some of the smaller cap names to trade at much more reasonable prices. liz: okay. if you're not buying into the big tech names like apple, alphabet and microsoft, then what are you looking at? >> well, let's take a look at the complete opposite end of the spectrum. so these tech names that have, you know, massive valuations and are not all that capital-intensive, the other end

of the spectrum, something that has a low valuation and is capital-intensive. how about at&t? trades at of 6 or 7 times earnings, has a 14% free cash flow yield at a i'm when, actually, free cash flow's about to start moving higher. so you're looking at valuations -- trough valuations when you're not looking at a trough outlook for these companies. nvidia, what sort of capital do they have to kick off over the next decade, it's very, very high. expectations are very high for these names. a lot of names -- liz: oh, i can hear the eurozoning when you said at&t, and here's why. if you stretch out the chart or, let me push you on this. right now shares are at about $15.70 or something like that. yep. stretch it out, and you had bought this stock, i don't know, i want to say august of 1994, that's what it was. actually, it was 20 cents above that. it was at 15.90 or something like that. that would be dead money if you held on to it. make your case here. >> well, you would have caught

some nice dividends -- liz: true, true. >> the reality is the valuation's not the same, and it trades at one of the biggest discounts of all time. you think about the business, it kicks off a ton of cash flow every single quarter. liz: people have to pay their wireless will. >> -- bill. >> and there's a lot of people wringing their hands about what if there's a recession? people aren't going to turn in their cell phone, right in you're getting all this cash flow, relatively low multiples, and it's an interesting thing to own. liz: you also like verizon. why both of them versus just one or the othersome in. >> the whole space has been beaten down because everyone wants to buy all the things that went up yesterday, so the whole space is attractive. liz: now, let's talk about something that could arguably be seen aztec but it's not, and that would be stellantis, an auto company, right? we've got chrysler, alfa romeo, maserati. they own -- they really own the spectrum here when they churn out these vehicles. and if you look at what is hot

right now,, the -- it's evs, although tesla right now is dropping. not too precipitously today, but a lot of news in the ev world. what is it about stellantis that you look at? is it that value proposition? >> certainly ask. the valuations are so beaten down. it's never been a fantastic industry, but the valuations are so low that i think it's a case that it could be -- if we go into recession, a lot of these cyclical names could outperform because the valuations are so low right now. she land disthe has a 9% dividend yield. they've got five years' worth of dividend sitting in cash on their balance sheet. that's a rock solid dividend and valuation. liz: for those of you that think value investing is boring, bill actually really likes cryptocurrency. bitcoin is above $30,000. look at the price right now, at the moment, $30,952. we're within spitting distance of going above $if -- 31,000.

>> bitcoin's doing what it's done for the past decade, which is go up. it's gone up nine of the past twelve years. just look at the history it's up, up, up, down. up, up, up, down. last or year it was down. here we are going up again. i'll give you the short elevator pitch on bitcoin. liz: please. >> approximately 100 million people around the globe own bitcoin today. there's 8 billion people on the globe. not one, there's not one fiat currency that doesn't change its yardstick the every single year and print more of its own currency. unlike those other currencies, bitcoin, its supply is completely unrelated to the demand. liz: it's finite. >> it's finite, and the rules are rock solid. they're out there for all to see. no one's changing the yard the stick, so you know exactly what you're buying into. you have complete transparency into what's going on in the blockchain 24 hours a day, 7 days a week, 365.

liz: when's it going to get back to its previous high of 69,000? >> sometime in the next 18 months, i'd guess, because what's happening next april-ish is next halving, the rewards given to the miners get cut in half. so the marginal supply gets cut way back. demand's probably not going to change that much. liz: you might be one of the few, if only, value investors on the planet who loves bitcoin. [laughter] i think this is really interesting. please come back, bill, thank you. >> thanks for having me. liz: bill miller iv. car max gunning it to the top of s&p 500 at this hour. we're about to tell you what's driving those gains. and major revelations on what appears to have been a chain of flawed decisions leading up to the disastrous norfolk southern train derailment in east palestine, ohio, which resulted in toxic fumes spewing over the small town of 5,000. as the rare public hearing enters day two, the ceo of

norfolk southern will join me live on set. we'll ask him about the new evidence that a appears to show how the railroad both missed and ignored signs the accident was about to happen. alan shaw coming up at 3:30 p.m. eastern. closing bell ringing in 38 minutes. the dow is down 214, the s&p losing 31, the nasdaq down 125. we're back in just a minute. don't move. ♪ ♪ burger and fries... soup and salad. like your workplace benefits and retirement savings. with voya, considering all your financial choices together can help you make smarter decisions. voya. well planned. well invested. well protected. the first time you made a sale online with godaddy was also the first time you heard of a town named dinosaur, colorado. we just got an order from dinosaur, colorado. start an easy to build, powerful website for free with a partner that always puts you first. start for free at godaddy.com

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liz: ah, this is interesting, breaking news, bloomberg news reporting that spacex is offering to sell insider shares at a price that would raise the closely-held company's valuation to about $150 billion. the company reportedly is pursuing a $7 a 50 million tender offer and is offering shares at more than -- 80 apiece. -- $80 apiece. according to people familiar with the matter, that would make it the most valuable u.s. start-up. huh. now, charlie gasparino was just reporting yesterday about maybe the company spinning off its staris link satellite -- starlink constellation, but that is part of spacex. we'll be watching closely. in the meantime, investors are changing the channel on warner brothers-discovery. the stock has had a real struggle over the past couple of weeks. it's losing another 2.8% to $11.75 on reports that the media

conglomerate is seeking -- 500 million from a record -- $500 million from a record label pursuing the rights to around half of its film and tv catalog. warner brothers looking to pay down its debts which are pretty dramatic, and we just gotta say that you're looking at a company that is still groaning under the weight of debt, trying to stabilize the company. and in the meantime, barbie may soon bring the much-needed party to the entertainment company. with the release of its movie based on the iconic doll, barbie hits theaters across the globe next month. the film starring margot robbie as barbie has stirred up nostalgia with consumers and companies that are cashing in on the trenail. we take the it live to madison alworth at the new malibu barbie café right here in manhattan. is the food at barbie's café

plastic as well, madison? just kidding but go on. >> reporter: no. no plastic food here. it is the delicious, but it is expensive. it's gonna cost you. it costs $40 to get in the door here to look like barbie, live like barbie, but people are paying, liz. this experience, which is open just through the summer, almost all of the weekends are completely sold out because you have photo experiences like this. and i want to bring you over to some of the food over here. this is just part of not central ya that we're seeing. i got some macaroons because i personally love them and so does barbie. they make their own cocktails. this normally has alcohol, the cosmo, but for now just the glitter. all of this experience outside of the movie which, by the way, cost $100 million to make and is expecting $55 million in the opening weekend. but mattel doesn't just stop there. you have the pop-up experiences like this, mattel and barbie

doing a special partnership with gap. some is of those items completely sold out. this throwback summer we're also seeing indiana jones in theaters as well as mission impossible also coming out many july. and they're cashing in. mattel and barbie, it makes you about a billion dollars each year. they're expecting a barbie bump this summer. barr by's worse years were in the 2010s when technology-driven toys took over, but barbie is back, and mattel is banking big on it. and you can see because i'm now surrounded by barbie fans. they're a little surprised because we've been hanging out all day and now the camera's here, but i wanted to end this shot with all my barbie girls. they're a little younger than i am. they don't have money themselves, but the parents do. and, liz, i've been talking to to some parents here, barbies themselves cost $50ed today, and on top of that, the outfit, the shirts, all of it really adds up. liz: $50? now, that's inflation. i have my barbie.

yes, madison, i actually have a barbie. this is mine. she's got the red hair. and the mini burberry cheerleader skirt which, of course, i also have because i'm an idiot -- [laughter] if is that awesome? this was not $50, but it was a special edition barbie. oh. well, you look perfect in the box. don't ever leave it. it's just perfect for you. [laughter] >> reporter: we're all hanging out here, liz. liz: yeah, i can see that. >> reporter: i love the barbie. liz: yeah. oh, that's so cute. have fun. i think the moms are having fun too having the glitter drinks. thanks, madison. >> reporter: oh, yeah. even more fun, to be honest. liz: fox business alert, 29 minutes before the closing bell rings, workers at 150 unionized starbucks locations are going on strike today. the walkout is actually related to a dispute if about the coffee chain's policy for pride decorations in stores. starbucks workers united, this is the union that represents those stores, is claiming the

chain has restricted decorations is celebrating pride month in some locations. the union adds that about 3500 employees will be on strike over the course of next week. now, for its part starbucks is vehement hem -- vehemently denying the claim saying store leaders can decorate as long as they adhere to the safety guidelines. car max racing higher after beating wall street's first quarter expectations for profits and sales. the used vehicle retailer said affordability does remain a challenge due to high interest rates, but cost cuts helped the used car retailer beat on the bottom line and, whatever it is, investors like it. the stock is up nearly 10% right now. see men's energy losing power after the company scrapped its 2023 profit forecast citing problems with its wind turbines. this comes a month after the company reassured investors that the outlook would improve in the second half. yeah, the stock is not

improving. seeman's is down 26.7% at the moment. the spin-off of the german conglomerate says there has been a substantial the increase of failures in its wind turbine components. with can we flip it to 3m? shares down about half a percent, but they had rallied earlier on the news that the chemical company would pay $10.3 billion to settle claims it was responsible for the so-called forever chemicals in drinking water. the payments will be made over 13 years and will be are used to fund the removal of the harmful chemicals in public drinking water. and it's not just 3m dealing with this type of thing. still ahead, one of the nation's largest rail shippers, norfolk southern, is in the thick of a legal battle following that toxic train derailment that wreaked havoc on east palestine, ohio, back in february. in the past few hours, officials have released more revelations that indicate warning signs were

both missed and ignored. next, the ceo of norfolk southern joins me live amid the national transportation safety board's rare public investigative hearing. 26 minutes before the closing bell rings, the dow is still down about 220 the points. alan shaw, see yes of norfolk southern -- ceo of norfolk southern, joins me live next. ♪ ♪

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(vo) while you may not be running an architectural firm, tending hives of honeybees, and mentoring a teenager — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you help others. so you can live your life. that's life well planned. liz: day who with to the of new findings from the federal investigation into the february norfolk southern train derailment reveal inspection shortcuts and missed detech to have warnings led to the accident in east palestine, ohio. the nearly 2-mile-long train carrying toxic chemicals in some of those cars derailed after a wheel bearing overheated spiking more than 2300 degrees right --

200 degrees right before it jumped the tracks. norfolk southern made the decision to vent the chemical in a controlled burn to avoid what it deemed a catastrophic explosion. the move displaced thousands of residents, many who worry about long-term health effects. but the hearing itself with the national -- where the national transportation safety bureau revealed thousands of pages in its investigation has reveal warning signs norfolk southern appeared to miss or maybe perhaps worse, ignored. joining us to discuss is ceo alan shaw. thank you for being here, alan, i appreciate it. >> thank you for the opportunity. liz: listen, i know this doesn't surprise you, but there are some people who wonder how you even still have a job after all that has happened. but now specifically brand new evidence that is coming out, not the least of which is that it turns out that the train involved, this 2-mile-long train, the day before the accident encountered not one, but two mechanical problems. why was that train not taken out of commission that day?

>> you know, liz, i know you're paying really close attention to the ntsb hearings that are ongoing, and so am i. and i think it's important to realize that it's a fact-finding forum, and it's an important part of the ntsb's investigative process. we're cooperating tully with the ntsb -- fully -- and and i'm very confident that we're going to learn from this and improve. liz: well, the train's engineer, and this is coming out in the past 24-48 hours, but, by the way, the event that's going on right now is the ntsb investigation revelation, a lot of witnesses, will go on until about 6:00 tonight in east palestine in a high school gymnasium reveal that the train's engineer the day before had said and raised concerns about the length and the size of the train. and as i said, just under 2 miles long. it had 149 cars, and he said you got 32% of the weight on the head and 20% in the middle, 40% weight on the rear end.

and then he told the ntsb, the engineer, when he brought it up and the concerns to the yard master, he says the yard master told him, well, this is what they want. they is you, as in management, is it not? >> yeah, look, here's what i want, i want a safe railroad. and i think it's it's really important that we recognize there's a lot of speculation here. i think it's really important -- liz: i mean, that's not speculation, that's his word. he works for you guys. >> it's really important that we let the ntsb go through the full process. but candidly, we're not waiting to act. i became ceo about a year ago, and we're making very positive and concrete steps to improve safety and service at norfolk southern. liz: the sensors that are every, what, 10-15 is miles along the tracks, those sensors indicated on the day of the accident that there was a problem, that the heat level was spiking, the temperature was going haywire on

one of the wheel bearings. and yet back at the monitoring center in atlanta of norfolk southern, the person who was monitoring didn't see it, and he told the ntsb he didn't because he was trying to monitor three other trains. what have you changed about the number of monitoring people that you have there so that they're not stretch thin? >> that's a very good question. so we have reevaluated, are in the process of reevaluating our entire with hot box detector system, the protocols, the hardware, the software, the personnel and the resources -- liz: are you adding sensors? >> we are adding about 200 sensors to our network which is about a 25% increase -- liz: what about humans to see the sensors when they start blinkingsome. >> yes, ma'am. we've added personnel to our hot box detector desk as well. we're taking this very seriously, and we're taking action right now. we're taking action with our own internal processes. you've seen me on the hill as

advocate for bipartisan legislative provisions that will enhance rail safety, because with we understand this is an industry-wide issue. and you've also seen us hire a independent consultant, a a former navy admiral who was in charge of the nuclear navy, and he's going to report directly to me. he's got several -- he's put together a team of several admirals with navy nuclear experience because the navy nuclear program is the gold standard for safety, and norfolk southern will be the gold standard for safety in the rail industry. liz: will that include making sure the conductors who have had less than a year experience like the one who was running the train at the time will have more experience before they're allowed to be a conductor on the trains? >> you know, we're enhancing our training methods. we're working very closely with the federal railroad administration making sure that we offer great training. and i'm investing in our employees. from day one when i was ceo, i was out in the field and i was in the crew rooms and in the

locomotive cab, and i was talking to my craft colleagues about service and safety and insuring that we're running a safe railroad. and since i became see crow about a year ago -- ceo about a year ago, we've added about 1400 to employees, most of whom are my craft colleagues because i've got a lot of confidence in the future of norfolk southern, our customers and the u.s. economy. liz: well, it feels like there were some legacy issues that started before you came onboard. but now, too bad, it's on your shoulders. and when you talk about crisis management, you have crisis management -- managers, anyone would tell you, first, you have to apologize for the program, own it and then overcorrect. does part of your overcorrection, will that involve pulling lobbyists off and away from d.c. because those lobbyists were the ones who pushed back on regulations, and they, you know, pressed lawmakers, they gave them money, they donated money to their

campaigns. and there's been some pretty strident pushback on regulations on behalf of the rail industry. are you going to stop that? >> you know, ma'am, i fully understand that. i own this. since day one, in the immediate if aftermath, i was in east palestine. i've been back almost every week since to get feedback from the community on what norfolk southern can do to help the community recover, help the community thrive. and i've been back to oversee our work. with respect to federal legislation, there are many provisions in the railway safety act that we fully support including enhanced car standards or which the rail industry has been supporting for years. liz: i wanted to finish by saying that there are a lot of people, the human cost of this is that many people are still displaced. some are back. you have given some money, but i believe -- i tried to do some of the math. it's about $100 million for some of the mitigation of all of this. but there is word that you're pushing against the state of ohio that wants remuneration for some of the clean-up costs.

is that true? that's bad optics, if it is. >> ma'am, we're paying for all the clean-up costs, and we're working in close, hand-in-hand conjunction with the epa and the ohio epa. yes, there's a financial commitment on our part, and that's just part of it, right in that's a component and that's important. there's also a personal commitment. so that's why i'm there frequently. we've got 300 ns employees and contractors who are on the ground seven days a week working on the environmental remediation, work on helping the community recover and thrive. and, liz, when they go home, what i find is they want to go back. and i've heard of ns employees and contractors who have actually cut their vacations short because they want to get back to east palestine and help the community recover. of that tells me two things, liz. it tells me they know they're having a positive impact on the community, and they know that the community recognizes and appreciates what they've doing. liz: we are, obviously, watching every benchmark and every sign post as it comes along so,

please, come back. we appreciate you coming and taking the tough questions. thank you very much is. >> my pleasure, liz. thank you. liz: alan shaw, ceo of norfolk southern. tiktok has been urn fire from both sides of -- under fire from both sides of the aisle, but that is not stopping businesses both big and small from turning the chinese-owned platform into a major marketing tool. we're going to get you a live report on that next. closing bell, 12 minutes away. dow is cutting some of its losses. it's now down about 187 points. we're coming right back on this friday. ♪ ♪ ♪ dad, we got this. we got this.

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liz: time is up on tiktok's chief operating officer. pa:pas is stepping down from the role. while lawmakers continue to push for a tiktok ban.

companies are seeing it as an advertising gold mine. liz: we knew people were using influencers to promote their stuff. but this is a trendsetter. >> companies are meeting customers where they are at. more than 7 in 10 businesses use ticktock to reach their customers. companies are listening to the influencers, too. chipotle noticed the quesadilla, and they put that product from tiktok on their digital menu. how about mood makeup? tart cosmetics developed it in 3

months time. it's the fastest selling line ever. companies are capitalizing on tiktok. while lawmakers don't like it one bit. just 10 states have not band or proposed a ban on tiktok. the coo is out and the new role as communications officer, she'll need to help manage the politics of this. many in washington and main street think the app is used by china to spy on and influence americans. china admitting they are storing the data of their servers in

china. liz: tiktok dance music. >> they make retro cool again. it's happening over and over. liz: that's good for some of us, retro is cool again. the closing bell 4 minutes away. markets on track to close lower this week. we have the dow looking to close down 1.6% on the week. the nasdaq down 1.3. you heard the saying oil and water don't mix. but for you the investor how about mixing oil and a.i.? john patridi says yes, oil and gasoline. >> it's a good strategy where there is a lot of room to run in

the a.i. story from a long-term investment thesis. if you said energy would be the worst performer this year they would have said you are crazy. there is value in energy and we think the a.i. story is unique and spells room to run. liz: the baskets include a bunch of names in them. >> we typically invest in individual companies. but for my team specifically we gain some atfs. but on the energy, a bots is a way to play a.i. and robotics. you own a basket of securities.

these are the feel-good names benefiting from the rally in a.i. instead of trying to pick which horse is going to win the race, just pick all the horses. liz: some of these names are not specifically what you would consider a.i. you have got at-limited and a whole bunch of other names. you get that nvidia exposure if you want it. what do you expect will happen in the week to come. we have seen an 8-week winning streak for the nasdaq finish. it was bound to end. but what happens in the next couple months? >> we are right now in the next four weeks we are in what i call the black hole of the market. there is no company reporting earnings, a handful this week,

maybe a couple next week. the last two weeks of the next quarter, and the fed made their move. the market gets pushed around by the headlines. there is nothing fundamental at this point until the next cpi reading the second week of july, and the banks will start earning. you are stuck in a pattern where investors don't have a pocket here. where investors don't have a lot to hang -- to hang their claws . liz: before the next cpi data, core pce, john, thank you. that will do it for us. we'll see you next week.

[♪♪] larry: