every time i look up there's some new sport out there and they already got tv contracts. take a look at these sports. i mean, super-punt, blow-ball, i mean, what are these things? so here it is folks. i'm telling you right now. my mission is to come up with a new sport. now i figure it's got to be something we already got these things laying around our house. maybe we retrofit a sport using old bowling balls, but i'm going to make it happen. give me time and i'll be the first commissioner of the league as well, because this is madness. every time i turn on the tv there's something i haven't seen before. corn hole i've seen but whoever thought it be a professional sport. anyway, cheryl casone in for liz claman in the last hour of trading. >> i'm sticking with marathons. i don't know what knuckle racket is but i'm not interested. charles: [laughter] some of the stuff i don't know if you want to find out. >> charles thank you very much. good to see you, sir. hello, everybody i'm cheryl casone in for liz claman today.

we begin with a fox market alert the bulls are making a run for it in this final hour of trade. stocks rebounding from multiple days of declines. right now as you can see the dow is up 234 points on pace to rise for the first time in seven sessions. the s&p 500 as you can see is up 50 points. nasdaq is up by 219. both the s&p 500 and the nasdaq are looking to snap two day los ing streaks. russel 2000 that is also higher by 28 points and change, dow transports up by 381 by far the biggest percentage gainer on the entire session right now. so the airlines are driving that out sized move to the upside after delta announced at its investor day it's expecting full year adjusted earnings to be in the high end of its previously- stated range. the stock as you can see here soaring more than 6.25%. today's broader market gabes also coming on the back of stronger than expected econ data. we've got durable goods this

morning, including the home appliances, vehicles, consumer electronics, furniture the big ticket stuff. rising unexpectedly in may, talk about a strong economic indicator, right? that boosted hopes for a soft landing from the fed. let's get a live look at the particular names right now that are driving the dow on our board as you can see the leader in the group is home depot and as you go down to the bottom of the list, it is walgreens boots alliance. this one firmly in the red by 9.25%. bottom of the blue chip index the retail reporting a significant drop in profit and they cut their guidance, but, even with that loss the dow is managing to power higher largely from strength in home depot from caterpillar and microsoft as you can see. microsoft in fact is up more than 2%. nike is up almost 2%ment home depot up almost 2.5% so microsoft there's a court filing that revealed

ceo satya nadella aims to achieve 500 million in revenue by 2030 that's more than double the current size, so with technology leading the charge today and ambitious growth plans , could the sector be getting its groove back after all? let's get to our floor show joining me now t 3 trading chief strategic officer scott redler and ubs managing director jason katz. great to have you both on set by the way. scott let's start with tech. the big seven as we call them. this has been the story for the rally. a lot of people have fomo, they don't want to miss the tech rally but now the word is over valued. >> we've been hearing a lot against the tech rally since it started in march. it's a broken bounce. it's a bear market bounce but meanwhile, 20% off the lows, they still said it couldn't continue and its been strong and there's been great rotation. you had mega cap tech semiconductors, we've had actually some momentum names showing momentum whether it was tesla, nvidia, now you have apple at all times highs. apple is at an all-time high.

it's not a broken bear market bounce. it's creating wealth and a great trade for traders. i do think after that seven day decline we just saw, that some traders are trying to reshuffle a little bit to get more alpha so they are trying to go more into the equal weight s&p. some are looking to see if the small caps could play some catch up so we might have had out performance in tech so now maybe we could have them continue but there might be alpha elsewhere. >> there's a rebalancing going on, but we're looking at nvidia back in may. you liked nvidia but a lot of question marks now about is that trade kind of over, yes or no, real quick. >> i don't think it's over but it's not going up as much as it did the last six months. >> a nice run up. jason let's talk about the macrostory 4 trillion on the sidelines right now and you know, a lot of people have been sitting in cash making money in cash just because cash is paying better than it did a year ago. >> five-plus percent. i can't begin to tell you how many clients in the beginning of this year said to me, why don't we take some equities off the table. we could finally get a return on

cash and that's fine and dandy for your cash and cash equivalents but look at what would have happened in terms of the s&p relative to that 5% return on cash. the markets up 25% off the bottom. cash has been the most crowded trade. now, we're starting to see that money rotate as scott pointed out into other parts of the market. s&p equally. small cap, and i definitely think that's where the second half you're going to see returns i don't think people are going to abandon per se what took them to the party but those seven names, the s&p, you know, 10, is not what's going to take you home for the party. it's the s&p 490 that will. >> yeah, you know, also too, scott, you've been talking about gdp. we could have an economy that's getting 1% to 2% gdp growth. i'm assuming that's in the second half of the year so maybe recession is off the table , but -- >> we've been talking about normalization. we spoke months ago when everyone said are we having a soft landing or hard landing

and normalize back to 2% gdp and also interest rates maybe with a 4.5-5.5 ceiling instead of free money every everywhere which caused the inflation so that takes time to work through and we saw the economic numbers this morning. they are still strong. so all "the talk" about recession and slowdown it's taking time to filter through. it's doing it slowly but maybe we're normalizing and consolidating a 10-year bull market in the past two years of sideways action that could continue and i do think the s&p could probably make a new high in the next year or two probably not this year though. >> and the labor markets been cooling jason and we know that, but you seem to be in the camp that maybe this isn't going to really worsen too much more. we had thought we were going to see the job numbers coming in every month and they were going to fall off a cliff and they really haven't. >> they have characterized the stock market as the energizer bunny but it's actually the job market that is. those getting laid off are easily finding new jobs. so the soft landing narrative is definitely back on the table and

what's diminishing is this hard landing that everyone thought was a foregone conclusion. it's the recession that never was. now, let's not get carried away here. the fate of this market truthfully lies in the hands of a few individuals, chairman powell in particular. if they go another half a point, so be it. i think the market has discount ed it. the question is how long do they stay? and the longer they stay, the more likely we will get that recession but again, scott made this point earlier. we just might have muted economic returns, not necessarily falling off a cliff because we've had rolling recessions, so when the real one hits, it may be sort of a non- event. >> exactly and how do you invest that way then? you both agree here about what the second half of the year is going to look like. we a guest on yesterday scott that said look, a.i. is everywhere. a.i. is in healthcare. a.i. is in consumer staples. a.i. is in social media. take your pick. so if you want to make an a.i. trade, pick other sectors. >> like you said it's everywhere. it's not just nvidia.

it's not just the symbols a.i. it's everywhere. meta is talking about it. amazon is talking about it. google is talking about it. baidu came out and said they have a better search so it's adding trillions to the balance sheet of a lot of companies so it's adding to some of the juice to the stock market so you don't have to be specific in a.i. but you said how do you invest? i've been trying to talk about multiple timeframes. okay? if you've been investing and putting money into the s&p every single month, 401 can, you're going to win overtime. that's 7% a year the bull markets win it's going to happen i have a son whose 14. a 529 his name is chase. every month i'm trying to put money in there since he's five. i started a little late that will hopefully pay for college and what we do is we invest for a living, so you have to be very specific. you have to know what's happening. you have to be watching you guys to stay on top of everything and see where the moneys flowing. moneys been in tech. very hot. as soon as everyone starts talking about the best certain or eight it changes like jason said to maybe the next 490 so you have to keep continuing to

do your work. >> that's why people should watch fox business, jason, because we are giving you investment ideas and i think this inflection point now, because you know the first half of the year is ending. second quarter is ending, and maybe you've got a little volume situation but i think we all thought the second half of the year was going to be rough and it was going to be a tough market and you've got the nasdaq up 29%. >> first of all everyone came into the year saying tough first half, we'll see light at the end of the tunnel the second half. everyone got that wrong, so i do think equal weight and i do think small cap but i'll take it one step further. instead of stocks how about preferred stocks? preferred stocks basically are like bonds. they are hyper-rate sensitive and the vast majority of preferred stocks are issued by banks so a double whammy. that index is down 15%. you could buy that here, get around the 7% return, and if in fact we do have a softish landing and we're at peak inflation, and we don't have more svb's or signature

banks which i don't think we will because the banks by and large are well-capitalized you can get the 7% return and a catch-up from that 15% decline, so that's a little outside the conventional stocks and bonds somewhere in the middle is preferred stocks. >> it's an interesting theme, i think, and we're all looking for different ways to invest in particular. who thought a money-market account was going to look good. right now it does, scott redler jason katz thank you to both of you. good to see you both. well, raising canes is raising the stakes. the fried chicken fast food chain is spreading its wings to the big apple opening its first here in new york city. coming up next, founder todd graves, talks about the new spot in time square, plus raising canes is a favorite of singer post malone. they currently have a collaboration for themed cups. we've got all that coming up, plus, an interview with company

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>> raising canes is making its big apple debut. the fried chicken fast casual chain opened its new york city flagship store in time square today. the 8,000 square foot restaurant is the first of 25 more locations to come over the next three years, right here, in the big apple. the brand famed for its chicken fingers and home made sauce was founded in 1996 has now grown to

be one of the fastest expansion chains in america. with 740 locations across 36 states, the middle east and guam raising cane's founder todd graves joins me in a fox business exclusive along with we have to say a special hello to the company's mascot cane iii. how are you more importantly? tell me about cane and tell me about the story, because you were 24 years old and you opened outside of lsu, and here you are >> here we are opening our global flagship in time square. you know this is a college dream i wanted to open a chicken finger-only restaurant, wrote a business plan and got the worst grade in the class. i realized that when i took it to the bank, i worked in refineries in los angeles, went commercial fished in alaska, got enough money to reconstruct an old place in lsu, and named the restaurant after my dog nearly 27 years ago. >> this is cane iii and does

she eat chicken? >> she loves chicken and the f ries. >> so you're opening in new york city, so new york city has had its issues let's be honest. i live here and times square had its issues but why take such a big bet on the big apple? >> for us we matured as a company to the point we could actually take advantage of doing a global flagship in times square, and what better place to try to brand your business than right there in the middle with a bow time, times square. one of the most frequented areas by tourists in the world and it's really to plant a flag and we did that. 8,000 square foot locations, you know, we'll do it do it right. >> you'll get a lot of tourists i'm assuming is what you're thinking? >> that's a tourist play and worldwide tourists is great. we're in the middle east but not europe and asia so this is the best way for people to try our product and then be able to grow. >> inflation has been an issue, food inflation, has that slowed you down and also we had a tough time with the labor. a lot of people don't want to go to work and work in fast food.

have you had trouble getting people to come in and work for you? >> luckily we have a great crew that recruits other great people and so we haven't had a problem. we've invested 150 million into our crew, labor and wages and we've had really great programs like millionaire programs foreman agers, tuition reimbursement, first house, closing costs and when you do these things and have a good culture and take care of your people you get them. they come. >> let's talk about the food on set. let's be honest, chick-fil-a has got to be you're a southern brand but known for this sauce and i'll open this up and just show it. this is the cane sauce and this is watt you're famous for right? >> it it is the chicken is great but with the sauce makes it the combo and we make it fresh in-house at every restaurant. it's not coming from a factory. >> tell me what i'm eating so i can just i need to test it to make sure it's okay. >> fresh chicken tender loin, f ried to perfection and with that cane sauce is great. fresh chicken brined 24 hours, the way your grandma would have

done it. >> and the toast. >> it's like pull apart bread for garlic butter and it makes a difference. >> what do you think has made it so popular? >> i think people resonate with doing one thing and doing it better than anyone else. don't try to be all things to all people. focus what you're good on and we've done it for 27 years i've not changed the menu or lessen ed the quality, delivered fast food speed and convenience. >> the sauce is really good. i'm not just saying that. it's actually really good but real quick. real estate. that's a big financial bet especially when it comes to that has that been an issue because you're the most expensive city in the world right now when it comes to commercial real estate, so what was that process like to open up the store? >> well, the rents were sticker shock. >> you're a southerner. you have to be like you want what! >> unbelievable but you know, covid opened up a lot of great locations and rent in some areas went down almost 40%. so it was the right time for us to come to the city and when you

look we're not franchise. it's a company restaurant i own it, right? so we look at times square like a marketing return. it's a marketing return. other areas in new york well probably turn a profit. >> you don't franchise anything >> we have some franchises in the middle east but if i can do it in the united states -- >> here in the u.s. you want to do, that's actually rare these days. >> very rare. it's very rare. >> so let's talk about the other things because you've got this post malone but you have, he designed his own restaurant in utah. >> he did, yeah. >> for you and he made his own cups which we have on set as well. >> isn't that fun? >> yeah, so how did that come about? >> well, post and i are old friends so he loved canes so he said i want to meet the canes guy and we met and made good friends and he always wanted a raising canes and like well you aren't into operations but how about we could lab on a restaurant, and he went nuts and did whatever. it's a pink restaurant and has p ing pong balls going

through it. >> well, congratulations. >> thank you. >> good luck and obviously, i'm going to have to just walk over there and try it. >> you got it. >> that was wonderful. >> i've got something for you a founders card so use that. >> oh, look at me. that's so nice and of course, well thank you, cane iii for coming today. i think somebody needs a nap now i think she's had a big day. >> she's worn out. >> thank you so much. >> thank you, cheryl. >> we've got a lot more coming up on the "clayman countdown." electric truck start-up lords town motors filed for bankruptcy. we'll have details next on that. take a look at your markets and look at the dow we're up 201 points, s&p is up by 51 and nasdaq is up by 228. good day at the office, we'll be right back.

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>> fox business alert for you right now take a look at your markets the dow is doing very well today. we're about to snap a seven day losing streak dow is up 229 s&p is up 51 nasdaq is up 230 points unity software moving higher after wells fargo started coverage with an outperform rating. the bank also set a price target of $48. the gaming software company introduced two new a.i. platform s for creators to be more productive and they launch ed a dedicated marketplace

to accelerate a.i.-driven game development. robinhood is cutting about 7% or about 150 full time employees as it tries to offset slowing demand. the online financial company was a hit among young investors who traded crypto and meme stocks during the pandemic. the company already cut more than 1,000 jobs in two rounds of layoffs that happened last year. illumina is planning job cuts reducing their r & d division by 10%. the biotech company plans to cutoffs space in california as part of a plan to reduce expenses by more than 100 million this year. now, illumina is engaged in a proxy battle with carl icahn reported earlier this month that ceo francis desuza stepped down. lordstown motors is filing for bankruptcy. the ev start-up said it was left with no choice after talks with

foxconn to purchase 170 million in shares fell through. stock down more than 19%. simultaneously, we should add, lordstown is accusing the taiwanese tech firm of fraud foxconn dismissed it saying lordstown made "false comments and malicious attacks" and it launched in 2019 with a factory acquired from gm. take a look at the other ev makers and this is really a big news in the space if you will looking at tesla and lucid and rivian. those stocks are actually still higher at this hour. well, we've got breaking news right now. parts of texas are under yet another excessive heat warning today, as temperatures are hitting as high as 111 degrees in some cities. as parts of texas approach the states record high temperature of 120 fahrenheit, national weather service issued heat warnings and advisories for more than 40 million people.

with more people turning on their ac to cool down there are concerns about the pressure on the states power grid. fox news casey stegall is live in dallas and the big question here is will the grid holdup? reporter: well, liz, we certainly hope so. we still have several more days to go. no real relief in sight. 112, the current heat index with the real feel temperature right here in downtown dallas. we're in the thick of it another scorcher across much of texas today. also up in oklahoma and further south in louisiana, parts of alabama, millions of americans as you said cranking up the ac to stay cool but it does raise concerns about whether there is enough supply to meet the high electricity demand. a group called nerk released its annual summer reliability assessment report through the u.s. department of energy, and it shows two-thirds of north america at an elevated risk of electricity shortages if faced

with extreme conditions in the coming months. look at the map. we're talking about large swaths from california all the way up to new england. aging infrastructure, a focus on renewables and changing weather patterns largely to blame according to the feds more than 70% of the nations electricity grid is more than 25 years old, and here in texas, the agency over the state power grid, however, right now seems con chondroitin confident there will be enough supply at least in the meantime. >> it does mean the grid is under tighter conditions. it doesn't mean that there's an imminent issue that the grid will go down or anything like that. reporter: the white house has pledged billions of dollars to fund transmission and grid updates including the building of new interstate transmission lines and enhancing green energy alternatives. nerk's report does emphasize that there should be no issues, if the projected peak demand is

met, but as we know, a forecast is a forecast. they could only predict into the future so far and we'll just have to wait and see what the future holds. >> i remember of course i'm from texas and i remember it was the winter storm that really punished the grid and became that but they had promised at the time the state did, the governor did they were going to fix the grid so this wouldn't happen again. i'm kind of surprised we're back here once again talking about concerns about the texas power grid. >> right, and there has been an additional wattage and gigawatts brought online since that winter storm, but as we've been talking about a lot, lots of people are moving to texas. there's a lot of new growth here , so hard to say if it's really keeping up but yeah. no doubt, people are watching this very very closely as it's only the beginning of july almost and we have still the rest of summer to go. >> especially with all of the humidity that's there.

casey stegall thank you for the live report, casey. >> thank you. >> well we've got a lot of econ data to get through. we've got new home sales surging for the month of may, even as home prices rose for the month of april, so what does this mean for the housing market? a lot of experts are changing their tune. we've got one coming up next. we will be right back.

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>> the i-shares u.s. home construction etf hitting a record of two new sets of housing data points were released. the case schiller 20-city home price index for april showed a 1.7% dip in prices year-over-year. month-over-month they were up 1.7%, and the new home sales

soared unexpectedly to the highest in 15 months even as mortgage rates continue to hover around 7%. jeff taylor the founder and managing director of mortgage solutions company emphasis digital risk joins me in a fox business exclusive. it's good to talk to you again, and i think in particular, let's zero in on case schiller and start there. you are in florida once again as several florida cities making that list, and these are substantial increases on a percentage basis for home prices existing homes. what slowdown i guess, jeff, is the question? >> cheryl thank you so much for having me again. it's always great to speak with you. when you look at florida like you said it is not slowing down at all. the entire state but especially areas like miami continue to see growth but there's more than just housing that plays into this. i think one of the big points is also taxes. you look at states like florida and texas, and because we don't have state income tax, that continues to attract people here

obviously being able to work remote is a big thing. it's a little bit less than it was a year ago, so the fundamental driver for housing is incredibly strong and since we still have supply issues, florida i see as the state that's going to continue to grow and be very stable through the rest of the year where a year ago i would have thought you'd see a 5 -10% decline in pockets of florida. >> well the prediction was we would see 25% declines in places like austin, texas and phoenix, arizona and we have not seen that. existing home sales i want to stay with that and that's why i lead you with case schiller because that's 86% of the market is existing home sales but there's a supply problem going on because a lot of the homeowners are sitting on 3.5% mortgages. they don't want to sell if they are going to have to go into a 7 % mortgage. it's almost like the market is still stuck. is that changing in realtime right now? >> i think it is, because look.

as the fed signals most likely they have reserved the right to potentially change it we may not see any more interest rate so about a 30 year fixed right now at 6.875 so if you look at the market and say over over the next six to 12 months rates may come down that gets existing home sales potentially more thoughtful about potentially selling their houses and then people are the demand has not slowed down over the last 24 months so you could see more, a lot more people in the game for home buying and the next six months as rates may come down. now, if you're going to get in the game get smart, get ahead. a couple things you need to do. get qualified. okay? when you get pre-approved for 90 days that pre-approval will stand so if you're thinking about it get pre-approved and go ahead and start to look at it because chances are we are at the top of the mortgage rate cycle, okay? so as opportunities come down, you want to be pre-approved to be able to buy and then if you're going to sell, you're

waiting. you have that number. like you said a 3.5% coupon. how much money do you clear off that house to be able to pay a higher coupon rate at 5.5 to move to where you want to so people are being opportunistic to close those gaps. >> we're showing video of new home construction and that was my next point here because if you look at new home sales we're not a 15-month high for new home sales and we knew there was a supply issue on the new home sales side as well, but what's interesting is that we're finding out these builders, 25% of the builders reduced their prices in june and 56% of new homebuilders offered credits. so is that where the consumer is going to get a better story? is on a new home? >> so, cheryl, that sounds like it right now. in the last data point, consumer builder confidence has risen six months in a row so the question becomes how long are they going

to offer reduction in prices in credits so that has been what they are doing but i wouldn't be surprised if we're talking in a month or two and we have less than 5% of reduced prices and less than 10% of credits so if again, you're looking right now, that's what i think new home sales are sort of at that top right now and you can probably get a good deal but it comes back to as a buyer, get prepared get yourself to get into the game even if don't know you want to buy right now because i think we're at that inflection point where the market is about to shift and it's going to become much more of a seller's market than it has been. >> even in miami or florida? >> you know, it's funny. i've lived here my entire life. miami seems to be an anomaly. i often for decades thought miami lagged behind other big cities like new york and san francisco. i think chicago too. i think what's different in miami, i don't think it necessarily lags behind is what happened post-covid, it wasn't just the interest rates and it wasn't just the move down to florida but it's the amount of

businesses whether it be private equity or real estate firms that actually moved in here and also that perception that you could work in miami just as well as new york has become a reality so miami will remain hot to stable. definitely more than other big cities. >> citadel left chicago and went down to florida. real quick, barbara corcoran was on the show with liz, she thinks rates when they come down, that that's going to lead to less inventory. is that true? >> well, i do think that makes a lot of sense, right? as rates start to come down, then people are going to be like okay this is my time to get back in if they are looking to buy and also from a seller perspective, if they are saying okay rates are coming back down if i can sell here, i can now get a mortgage a little bit less than i was looking at five or six months ago and cleared enough on the house i sold, maybe i can make that come to fruition and get the new house, so i do believe things will

pick-up as rates come down because it'll also generate confidence we seen in the top end of the mortgage rate cycle. >> and that's more competition if you're a buyer. jeff taylor good to eso you again. thanks for being here. >> thank you, cheryl. >> there's no place like home sweet home, everybody. right here on fox business, we're helping home buyers find their "american dream home." check out the latest episodes all streaming right now on fox nation. well, ubs says that pickle ball popularity may be bad news for the health insurance sector. our closer says one stock may benefit from the sport. find out which one is coming up next. hi, i'm todd. i'm a veteran of 23 years. i served three overseas tours. i love to give back to the community. i offer what i can when i can. i started noticing my memory was slipping.

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>> shares of the nations fifth largest transportation company, yellow corporation, are tumbling right now down about 22%. the company announced plans to sue the labor union teamsters for 137 million following a bitter feud that the white house itself has tried to intervene on this is a big one. charlie gasparino has the details. charlie: we broke it earlier in the day on my twitter feed.

what's fascinating is what type of company that yellow is, not like a household brand but ups in my view is a big trucking company, full disclosure i once worked at ups as a kid, unloading trucks because the ups plant was behind my house. >> i learn something new every time i see you. >> in any event they were bailed out by the white house i guess it was the trump administration back in 2020 over with covid relief. remember they were hitting hard times, and they needed trucking to basically deliver stuff to factories and markets. the treasury owns about one- understood of the company, and here is where this gets interesting. the biden white house was involved in this long time dispute between the labor, the big labor, the teamsters, and yellow, shawn o'brien is the head of teamsters, very progressive fellow, very close to bernie sanders apparently and nothing happened, and now, the company is on the brink.

if you look at the stock price, can we just throw it up there, because it's not -- it's below a buck today, okay? now this has been a penny stock for at least the past year. there we go. whoa. i did not get a chance to find the bond prices but this thing has got to be trading its bond has to be trading in bankruptcy level. essentially the markets predicting this thing is going chapter 11 without a resolution here. that be if it goes chapter 11 there's always a chance it goes seven, that's liquidation if you can't save the business. that be 30,000 jobs. now, what are they asking from the teamsters apparently the teamsters, we should point out called up both parties there's dualing statements as i speak we should put them up. they are saying that the teamsters are essentially ba uking at a modernization that will likely lead to job cuts. they are being where they want all-or-nothing, meaning, either

nothing we don't want you to cut anything but if you do cut, if you do go the route, that you do modernization, which leads to job cuts, we're going to put you out of business is what the company is essentially saying so that's why we're at this impasse right now with the lawsuit. we should point out, can we put up both statements do we have them? okay, so we don't have the statements right now. essentially the company is saying that the teamsters breached, they breached their contract. the teamsters are saying bologna this is a good faith negotiating we should point out mr. o'brien, the boss, i don't want to peg him with this but it's interesting. he once ran the boston office of the teamsters which had very close ties with a certain, i hate to do guilt by association but that was a union that was real problematic. that man was very tight with that boston teamsters outfit

back in the day. not kidding. >> 1953 that picture is. charlie: he does not look like that anymore. >> wait who is this again? >> whitey bulger. who did you think it was? in any event -- >> as in no longer with us. >> in any event, you know, i don't want to paint mr. o'brien with this but there are some legacy issues with that boston teamster office. you can read all about in the boston herald and the boston globe i did a complete clip search here. not saying he's a mobster. far from it. he wants to clean-up the union and he's said it and made strides to do that but when you talk to the people at yellow they would say these are the type of people we're dealing with. really tough. they used word thug. i didn't. you know? people who just want all-or-nothing. >> they are sinking the stock. charlie: they could put the company out of business, and i'll tell you, the market is trading today.

listen, it was like a $2 stock the other day. below a buck now? i mean, talk about penny stocks. >> and its got 30 days until it's delisted. charlie: yes. yes. it's listed on the nasdaq i believe. under the symbol yell. >> keep us posted. thanks for the black and white photo. charlie: of who did you think it was? >> i wasn't sure. charlie: good looking guy though back in the day? >> yeah, too bad -- >> is the hat your style? >> murder people. yeah, i do. charlie: would you data guy with a hat like that? >> yeah, i totally would. absolutely. anyway, thank you. cheryl: closing bell is going to ring. we have exactly six minutes to go. we have a nice day for the markets by the way. the dow is on pace at this point to snap a six-day losing streak. that is the longest losing streak we've seen in nine months. s&p, nasdaq on pace to snap

their two day losing streaks. i mentioned this earlier pickle ball is surging in popularity. ubs says injuries related to the court could increase health care costs. americans will spend 250 and $500 million on health care expenses related to pickle ball this year. i didn't realize pickle ball was so dangerous. anyway, the countdown closer has his pick for the stock for people going to the doctor, playing too much pickle ball. joining me, max wasserman, founder, senior portfolio manager at miramar capital. i set you up, max what do you say? >> i appreciate that. thank you. i don't know how dangerous pickle ball is but i want to take it up myself. we have medtronics we have investment in, that does medical procedures. you're starting to see a global rebound in medical procedures

given the fact hospitals are opening up again, supply chains are starting to get a little bit better, inflation costs higher but at least under control. medtronics, for example, is one of the largest medical supply companies, device companies out there. trading 15 times earnings, 3.1% dividend yield. with average five-year pe of like 18. so the company about a year ago was trading $133 a share. it is trading roughly $89 now. we see as more people go back to have surgeries, elective surgeries, we see them as a big beneficiary. cheryl: during the covid pandemic we saw drop-off in elective surgeries, you're correct. now it is all coming back. let's talk about something else you like, talking about transportation with charlie gasparino. >> sure. cheryl: union pacific railroad is a pick that you have got. transports are on fire today. that is the airlines that is really powering that group up but talk to me about union

pacific railroad. why a stock like that? seems like somewhat of a staple we should already have? >> we're looking 12 to 18 months and it will definitely benefit as the economy grows. dividend investors. trading roughly 16 times earnings. a year ago that was trading $276 a share. it is trading 2, 202 right now. we think with the 2 trillion-dollar infrastructure spending as you start to have, as more energy needs are being taken this company benefits from transporting. they're really a duopoly. they own, burlington-northern, own the connection to the western united states which is very much growing and they are the biggest connection to mexico. so we look at it as trading under its five-year average as well and p-e multiples. we think there is more potential. do we see it going back up to $273 a share like it was a year ago? no, not right now but in the

next 12 month we could see it happening as the economy really starts to expand. we see that will take a few months before we see it happen. this is stable company, so i will agree why are you calling for recession or no? >> in some areas people argue there is rolling recession. i think you will have a slowdown. by the time we see recession the market will basically price that in. i think consumer spending is different. it is not so much on hard goods. more on experiences right now. 14 million people traveling a day. see it with the hotels. we will see a slowdown. consumer much better shape than they have been, there is so much liquidity out there, to call it recession doesn't matter at this point. the majority of market is pricing recession. keep in mind only seven, 10 stocks, counting for 85, 90% of the s&p five's return. five hundred stocks in the s&p,

290 have been flat. the market is discounting. cheryl: might be absolutely right. really before you run, i want to get general dynamics in. they have four businesses. marine, tech, aerospace, billion dollar company, why do you like it? >> keep in mind the 20% is aerospace which is gulf stream. you you see demand for planes, g8 hundred, long-range, the demand for that will keep up as people start traveling more and more. they have $86 billion in backlog. they have abrams tank, and stryker, and huge demand for their products. as they get constraints under control, supply constraints this will benefit this is quasi-industrial play with the aerospace side so we like. >> in a market we're looking into the second half of the year we're certainly looking for these types of picks. real quickly before you run is there one sector you like that is not a.i.?

>> that is not a.i.? that's great. i do like the industrials. they have been hit. we do like those. we like general dynamics, like companies like ups, believe it or not, waste management. we like industrials because we think they're priced for recession. so you have more asymmetrical return because people hate them now. cheryl: max, we don't hate you. come back anytime. >> thank you. cheryl: dow, s&p, nasdaq all seeing broad gains for the day. we had a good day at the office. [closing bell rings] as we close the end of june stocks up more than 3% for the end of the month. transports on fire. that is it for me. "kudlow" is next. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. so, yesterday on "fox & friends" house speaker kevin mccarthy launched a broadside against