economy. do not like their parents are going to buy two-bedroom home with modern appliances and all that kind of stuff. of course this generation they fly to cancún and they love the avocado toast. here is a real bill to student loan staff the top 20% have the most, they don't need to be bailed out. the doctor to stop spending money. this is a 400 billion-dollar giveaway to the most elitist folks out there. my suggestion somehow we refocus and find a way to retrain the workers because robots are coming, corporate america is going to keep bringing in the guacamole makers, the chipmakers and whatever else you may be doing at this very moment. it is an sos a clarion call these folks need help. cheryl casone over to you. cheryl: artificial intelligence, the story of the first six month of 2023. it is changing and coming to your point. charles, thank you very much.

we have a fox market alert, we start with green on the screen as investors are cheering the lows headline cpi number we have seen since march of 2021, take a look at the dow up by 120 points, the s&p higher by 37 and the nasdaq higher by 167. both headline and core inflation slowly more than expected with the cpi inflation rate clock in the 12 straight month of dec decline. tomorrow we're going to get key data on wholesale inflation that is the ppi read that also is very important to the fed and may be more important than cpi to be honest and analysts are expecting the slowest year-over-year growth undergrowth and more than two and half years for the ppi numbers, let's go back to cpi the two key sources for the inflation in the beginning of 22022 were food and use vehicles they pulled significantly, coming up we have driscoll's of the american president, how he

seen the affect his business and then also coming up in a moment making his first appearance on fox business since declaring his campaign for the republican nomination for president, former new jersey governor chris christie is going to be joining me. let's get to the floor show with the etf pics is vice chairman tom leiden. i want to get your picks i want to start with your reaction to the data that we got this morning. the fed fund future markets backed off the idea that we are going to get another hike of this month in july and maybe not get to hikes for the month, the year of 2023, what you make of the reaction from the market after the reaction of cpi. >> very positive the fed has done a great job hitting all the notes on the path towards getting inflation under control. most financial advisors that we work with are looking to a year from now in a year from now they say rates are going to be lower

than they will today. that means even though you have a lot of money on the sidelines and money market getting 5% if rates are going to be lower that yield is not good to be there a year from now so it means are going longer duration, their buying more corporate bonds and buying more high-yield bonds with the idea of rates coming down not only are they going to lock-in higher yields they can make appreciation along the way which is the first time that is happened a while. cheryl: the sticky part of the report was shelter that continues to be an issue, 70% of the read that we got this morning and you also have a strong job market. this seems to take off more and more the idea that we could get a recession in the second half of the year. what do you say? >> as we survey advisors most feel there will be a soft landing and with that we will have lower interest rates as we go into next year. it would be perfect if they orchestrated it so we didn't get

a recession but it's going to be very close. the good news for the stock market, as you can see today it likes it is not the magnificent seven. when you see a day like today where the russell 2000 out performs s&p that is very, very positive in a valuation standpoint outside of the s&p there is really good bargains out there. cheryl: it is interesting, i was looking at some of the things about financial advisors a concern from the manager side of the equation. 40% say the recession is a major concern but 24% say market evaluations is a concern. that has been a big topic of discussion. i go back to the a.i. story that charles payne was touching on of the individual because a.i. is what power the first half of the year stock wise and etf whites you have to admit that there but there is concern that a.i. is going to cool off in the second half of the year, what do you say. >> you are right. a.i. is a big deal, however, a

lot of people are claiming that they utilize a.i. and a.i. is something like we're going to have to embrace going forward and i think especially in the financial service industry there are a lot of pluses where we can utilize a.i. there are a.i. etf's popping up all over the place as charles talked about we have robotics etf's, unfortunately no avocado etf's but hopefully they will be coming. cheryl: avocado did look good now i'm craving guacamole. you have a couple of etf recommendations. i want to talk about as wild, that is one of your picks in the pacer u.s. small-cap cash cows that is interesting there has been a lot of talk about small-cap and that's been ignored part of the market so far this year. >> cheryl you are absolutely right, shareholder yield as your kicking a field and cash flow that's really important, cambria does a great job not only

picking companies that do that but have fair evaluations that are half of that almost 50% of the s&p in as far as small-cap, small-cap has been on low for a decade. in the long-term the outperformed large-cap, the cash cow to a symbol cals, something to take a look at as you want to expand large-cap growth if we see a rebound in the value related stocks. cheryl: you make one of the good market point what to bring this reviewer's attention the top ten stocks in the s&p 500 account for 30% of the waiting and that tells me we need to look for other opportunities whether good small caps are different sectors that are not technology. >> you are right, not only 30% of the waiting but two thirds of the performance that we had so far this year. getting back to the surveys that we had with advisors they are concerned about evaluation and market volatility.

the s&p 500 is a benchmark for most investors and a lot of financial advisors but right now the area of the market seems too expensive now we see not only areas like mid-cap and small-cap but overseas markets are doing pretty well to and don't feel like you've missed it, they put money on the sidelines a last couple of years there is a lot of bargains out there. >> we have time, good to see you. thank you so much for being h here. cheryl: price pressures cooling off in june but certain areas of the economy such as shelter still red hot. coming up next 2024 gop presidential candidate chris christie will be joining us on his take on how he would run the u.s. economy if he was ceo of america inc. his first appearance on fox business since launch of his campaign. "the claman countdown" coming right back, the dow up 115.

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cheryl: a fox business alert, take a look at your markets on this tuesday, wednesday afternoon. the dow was up by 106-point, a nice little gain, s&p is up by 36 and nasdaq up by 170 points all of this on a better-than-expected read on cpi this morning and of course we're going to get ppi tomorrow, the inflation story cooling for 12 months now as the report cross this morning in the excitement seems to be continuing into the close. the european union is slapping a $475 million fine on illumina by

buying real before getting approval, the biotech company announces $7.1 billion acquisition of grail in 2020 but that you said the company broke its merger rules by completing the deal without his consent. in the united states ftc ordered illumina to sell grail after finding it would stifle competition and innovation in the u.s. market, the san diego-based company plans to appeal that fine, shares of illumina 3.6% to the upside higher. let's take a look at lucid this is lower after announcing second quarter delivery numbers that missed analyst expectation. the ev maker stock has dropped over 60% in the last 12 months as investors are worried about demand for the air luxury sedan, lucid cut 18% of the workforce in an effort to reduce cost. the lucid group stock down almost 11%, kim kardashian talks

to buy back minority stake that she sold the cody, this is reporting to the wall street journal this morning known as kk w holdings was valued at $1 billion when cody acquired a 20% stake 30 years ago the company known as skin by kim and the reality stars by backers state to expand the cavities beauty category take a look at cody stock downward and 3%. then there is this one domino's pizza and uber both rising after the pizza chain announced that customers will be able to order through the uber eats in the post may sap, the partnership is going to begin and for pilot markets and be available to the rest of the country by the end of 23. domino's plans to add uber eats to 27 national markets this y year. domino's higher by almost 11%, uber is slightly higher. coming up former new jersey

governor chris christie is joining us next for his first interview on fox business since declaring his intent to run for president. we'll be right back. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪ new projects means new project managers.

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president biden exiting air force one after the nato summit. but stateside his administration is taking a victory lap after data showed inflation called again last month his administration citing bidenomics and action for the better-than-expected report adding our economy remains strong, biden's reelection on improving inflation numbers while trying to avoid a recession, the former governor of new jersey now 2024 republican presidential candidate chris christie for his first appearance on fox business since launching the campaign, welcome back. >> let's talk about this, president biden, the white house, the economy is great things are wonderful. >> told the american people that are seen 70% placing since joe biden. the summer joe biden is feeling it they want to go on vacation and have to fill up their car more than a dollar to have expensive when he came into office they go to the

supermarket and have a fourth of july barbecue up 70% of where was. there going to be going next month in august to buy the kids close for back-to-school time. in all of these things are things that are well outstripped in, it's been about 3% price growth is 17%, you know what that does to every family in america. bidenomics is under his favor president jimmy carter. inflation killed the jimmy carter presidency in inflation will kill joe biden's presidency. in the second term you could get a higher taxes and more regulation and less independent from where we were before. what steps do you have in place right now. >> first off you have to cut government spending. you have to reduce it what caused the inflation was trillions of dollars in spending joe biden did after covid and he

was warned by larry summers, no conservative not to do that. first thing i did this in new jersey in the banking crisis in 2010 with $11 billion deficit on a 29 billion-dollar budget we did not raise taxes we cut a hundred 36 individual programs and we balance the budget. what happens to new jersey's academy we went from 10.3% on appointment to the end of my first term we were at five we cut in half in four years. energy independence absolutely, what we need to do is oil and gas exploration have to be increased, we not only need to be having a for a country we need to stop reliance on russian oil and gas and we can help our allies in europe and make money for emerging companies by selling oil and gas in europe and having here for emerging consumption to keep the prices down and not have to rely upon the middle east or anybody else for oil and natural gas.

third we have to improve what's going on in education in this country. the long-term problem you saw the test scores the national test scores for all of our kids are going downward could be competitive with the rest the world. it's not going to affect me and you but the next generation of americans that we should be worried about have to have educational freedom for everybody. cheryl: i'm glad you brought that up when you were governor in new jersey you took a powerful group known as the teachers and the teachers union and you one and a vote that was a big risk and you made it work, we got a new report after covid in the pandemic were finding out speaking of our kids six, seventh and eighth graders have fallen short of pre-pandemic averages for reading 16 - 19% yeah brandywine garden in washington very powerful voice, how would you deal with the teachers if you were president of the united states. >> i dealt with randy when i was governor of new jersey, she represented the teachers and still does in the city of new york we negotiated the deal back then to allow for merit pay for

teachers the first time the unions in my mind have ever agreed to something like that. they need to take you seriously and know your first priority is educating our kids into the next couple of weeks we're going to lay out an educational program for revolutionizing what's going on in education in this country and what we need to do is put parents and the students at the front of our concerns and make sure the parents get to choose where they want their kids to go to school. they should not especially our urban kid should not be trapped in the failure factories in the cities all over the country where they have no hope, the greatest gift you can give to a parent is their ability to choose where the kids will go to school, they think they're giving their kids an opportunity to be better than they are and that's what we all want for our kids that will be a fight in the teachers unions. by the way the teachers deserve a union as good as they are in they don't get it because these folks like randy and others are enriching themselves and gathering political power and they now have the best ally ever

in the white house in joe biden who is a member of the teachers union. i can guarantee you this when chris move into the white house there will be a member of the teachers union and that couple. >> let's talk about initiative that you spoke about, you want to do means testing for social security, you made the comment over the weekend that mark zuckerberg doesn't need social security but you say the memes testing will be an income cut off, who is the wealthy to you, somebody that makes a firefighter salary in staten island is different from a salary in iowa. what is the number cut off. >> i'm to be much more attuned to that, then anybody in this field because i come from the wealthiest and costliest place in the united states in the northeast. what i've said if we do nothing and 11 short years, social security is good have an automatic by law 25% and 2%

reduction benefits, imagine what that will do to a senior now gathering social security to list what if i% of the benefits is not an option to do nothing. i'm not wedded to any of this, although this needs to be on the table means testing needs to be on the table, raising the retirement for people in their 30s and 40s needs to be on the table and no one else in the race will talk about that she saw biden state of the union this past year republicans and democrats stood up when they said were not get in touch social security. i love social security is an important program as part of a social safety net in our country. i'm going to be the only person on that stage who's good to be able to say i will save and strengthen social security not only for those people but their parents and their kids and grandkids, no one else wants to touch it and it's obscene that no one else wants to touch it. when ronald reagan was president that's what you need a

republican governor from a blue state who will come to washington, what did he do he fix social security and immigration to problems our economy needs fixed and border security that we don't have right now. part of the immigration problem, they don't have border security you cannot fix the immigration system. if you don't have a border. he built 47 miles and four ye years. they are over ever, biden made it worse. speaking of joe biden and data we skip together that was a big headline, is joe biden mentally physically fit to be president. >> he is past the sale by date. we can have an 80-year-old president.

i heard nikki haley say mental cognitive test, you don't need one, just watch. did you watch them come down the stairs at air force one, we both did, he is too old nobody beats father time and by the way if the nominees and one of the reasons i'm running if it's donald trump in joe biden the combined age will be 160. i think we could do better. cheryl: there is a big gop primary, obviously the polling at this point we know what the polling is and we looked at the polls in your trump, desantis, haley, scott, and chris christie, how do you break there? how do you break through, it is early, this is any number one if this is a baseball game. what message do you get out there to stand out in the back of other candidates. >> i think two things the republican primary voters need

and deserve. first thing they deserve the truth and joe biden has not told them the truth now for nearly three years making them feel like lesser people were being conservatives for being republicans in donald trump is not told the truth. we need the truth, second we need results on the issue that we care about. >> the economy, border security and immigration, education, energy independence and we have delivered as governor on those things we know how to get it done is not like ready to government is ready to government we need somebody that knows how to do that. >> i said ceo of american inc. which is a true statement. i want to ask you about crime in the blue cities in this country new york, los angeles, san francisco is a liberal run cities but crime is out of control and retail theft is one of the biggest stories we've been covering walgreens closing up shop bases, they are out, would you if you were president,

is there something that you could do policy, but conversations to be had to stop the deterioration of the cities, that is an economic story and the economies of the cities were failing right now. i was the united states for seven years the chief federal law enforcement in my state and amazing record of stopping our cities and as governor i fired the entire police department because they were failing the most dangerous city in america we had a brand-new police department trade them in valiant antiviolence de-escalation and caught them out of cars onto bicycles and foot. in ten years murder rate and we need to support our police officers in the tai training too the job the right way those men and women are brave enough that they will go do it. here's the other thing these governors have to get rid of these woke prosecutors,

manhattan. as a federal prosecutor. alvin bragg is putting more time prosecuting donald trump for paying off a star then he is prosecuting people that are committing violent crimes in the subways in the city every day. we need people who are going to enforce the law and what i'm going to do as president is to lead the fight at someone who has done it, not someone who has talked about or read about in the book. i spent seven years of my life doing it and doing it effectively and one of the toughest states in this country. cheryl: before you go would you ever consider running as an independent? >> no i am a republican and i have no interest running an independent, i want my party to have the best candidate, i believe that the philosophy that ronald reagan started for us in the 1980s, that type of conservative small government approach the republicans bring is the thing that will give us prosperity and freedom and

growth and i don't have any interest in going on a fool airing and being a sub spoiler. an independent can't win this race and i'm in this to win. cheryl: it's wonderful to have year, don't be a stranger. >> i will not, i will be back. always good to talk to you. period were to be watching the markets and give you all the up-to-date information that you need. we have 29 minutes until the bell rings. ♪ dad, we got this. we got this. we got this. we got this. we got this. yay! we got this. we got this! life is for living. we got this! let's partner for all of it. edward jones

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a hot drink among all kids, what happens next because everyone is concerned about the caffeine content which we will get into specifically, the little teeny warning labels a not for kids under the age of 18 it gets bigger and everybody is happy, this is all the rage that is marketed on tiktok, social media, there's prime hydration and prime energy, energy is drawing the concern has to do with a of caffeine per 12 ounces that has pediatrician lawmakers all speaking out. >> one of the summers hottest status symbols for kids is not an outfit it's not a toy, it is a beverage that buyer and parents beware, serious health concern and so feverishly targets. the fda to investigate prime the

drink is safe enough for children, here is the quote prime energy is sold and can it dropped in 2023 and contains a comparable amount of caffeine to other top-selling energy drinks it complied with all fda guidelines before hitting the market, let's compare it one can if you're tired is equivalent. you see me every morning. you would never drink six cans of coke. if i gave you this, this would be six cans of coke this is away from sugary drinks and this trend might be a little worse, if this is banned in some schools and this is a hydration drink that has no caffeine in it but it has coconuts. coke and pepsi, they are all getting into the energy drink market, it's worth so much mo

money. thank you for educating me, i will never drink that. >> this is been on the market a little over a year $100 million in sales, handful of flavors, ice pops my kids favorite. lauren simonetti, it taught me a lot of things right now. thank you. something a bit more healthy to talk about, americans are begging for relief at the grocery store. they may finally be getting it. food prices increase slightly in the month of june, cpi data shows egg prices dropped 7.3% for me in t the price of fresh foods drop 1.1 all of the data coming as the producer price index comes out tomorrow at 8:3. let's talk to the man who is very knowledgeable about the produce business in a fox business exclusive let's bring in driscoll's of emergent

president. it's great to have you here. >> great to be here, good to see you. it's been the biggest piece that we do every month on fox business. americans of the grocery store aisles have been suffering for at least 12 months paying more than they feel that they should be for many products, how has that affected you, your story, your sales and your company. >> the back half of last year end the beginning of this year was really tough and prices are very, very high and a lot of our customers primarily increase their markup to offset the inflation cost. even though we didn't always see an increase in our prices that we sell to the retailers, the consumers will see the price increases. that is beginning to reverse, there is a number of reasons for that and it's at the state and look into the future we definitely think the prices they

get to be less than last year. >> what about labor cost. one of the things that's given us indication that we may not go into recession because of the strong labor market that could have an adverse effect of someone like you. in getting trouble at the business is and what about wages has not been a thorn in the side for you? >> suddenly in the california-based business where minimum wage went up again this year we see some pressure on wages. we had pretty good availability of labor and that could be the biggest impacting factor on our cost. this year availability on labor has been good and most of her industry is fairly stable that has not been a big increase in production is certainly not a decrease so the labor has generally been around and we've been able to manage it without seeing a significant increase in her total production cost.

cheryl: i want to ask you about the weather, right now california in the southwest in particular is dealing with extreme temperatures we are seeing over 115 degrees in places like phoenix, arizona, you have a lot of flooding in california. did that have an impact on you? >> we had a much later start to the seasoning in california probably four weeks later. we didn't have great availability back in april by the time we got into may and june the season caught up with us and now we have great availability coming into july typically then we have. when it's hot and lynn and california been on the coast from where i'm sitting it seems to be cooler so that's great for bear quality, and i think consumers all over the united states have seen that and the quality has been excellent. and the prices are reasonable for consumers and today you can get a great deal on strawberries and really good quality in july.

it's not that usual and the quality would be suffering a little bit but we don't see that issue. summary this is the best time to buy your container driscoll's strawberries which i am a customer as well. see oren bjorn, great to see you. >> it to seal. cheryl: farms in vermont are facing millions of dollars of damage, coming up next alive report on the historic flooding that devastated the green mountain state. we'll be right back. woul i was ♪r an ♪ all at no upfront cost. sometimes you need a second opinion. [coughs] good to go. yeah, i think i'll get a second opinion. all these walls gotta go! ah ah ah! i'd love a second opinion. no. i'm going to get a second opinion.

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>> were looking at pictures of homes underwater in vermont after historic flooding has devastated the state, president biden has declared a state of emergency as forecasters are predicting more rain may be on the horizon fox news nate foy is standing by in vermont with a lot more. good afternoon, how are things looking. this is behind me a small example of what so many are dealing with after the worst flood in vermont and almost 100

years, the one street to my right adjacent to the one that were on right now. we are going inside looking at every single basement that is destroyed depended on elevation many people got a lot of water in the first floor of their homes on the first for some don't have flood insurance. it's a tough situation for a lot of people step out of the way so you can see what's happening on the street behind me, there is still some water in excavator they tried to move the mud and hour ago we had state lead leadership. as the state expects more rainfall over the next two days. my biggest concern what about thursday and friday were still an immediate response were not at a point were focused on recovery.

with vermont's r-uppercase-letter pumping out water after extensive flooding read as bad as this is it was really, really close to being worse. this is the wrightsville dm 3 miles north of montpelier it came within 1 foot of overflowing yesterday. governor scott said the be monitoring the levels over the next couple of days, we learned the crews have conducted over 200 rescues and 100 evacuation since sunday, right here the vermont national guard stranded in their homes many people were told going to the top floors because conditions were so bad that they can evacuate. back out here life so many people are dealing with property damage one bit of good news to report official say of a.d.a.m. nobody has been killed as a result of this devastating flood. we will send it back to you.

nate foy think you forgot my report we appreciate it. moments ago we asked 2024 presidential candidate chris christie if he would be willing to run as an independent. listen. >> did you ever consider running is independent? >> i'm a republican, i'm a republican and i have no interest as running as an independent i want my party to have the best candidate because i believe the philosophy that ronald reagan started for us in the 1980s, that type of conservative, small government approach that republicans bring is the thing that brings us the greatest prosperity and freedom and growth. i don't have any interest in going on a fools errand to be a spoiler as an independent, an independent can't win this race and i'm in this to win. >> this is senator joe manchin and john huntsman will headline townhall by the nonpartisan group no labels speculation that manchin can become a potential

third-party candidate, let's bring in charlie gasparino for more. yesterday we reported that ron desantis is reaching back out to donors who are worried about his stolen campaign. cdc just wrote a headline that it was new, it's on foxnews.com from yesterday just to get this straight. today returning to no labels. if ron desantis is not the republican nominee of chris christie and the republican nominee. joe biden and donald trump are the nominees of the respective parties, joe biden democrat, no labels from what i understand these are people inside that they will definitely run a third-party candidate, they have enough money and they have been reaching out to people and raising enough money and they will run a third party, has to be. if christie got in there i don't think they would read it. they would rather run against biden.

gavin newsom, probably not going to run, if these two candidates for the respective bad reasons, joe biden tool, too liberal, too crazy, they're going to read the third party, who would be the third party candidate, we should point out there's been no outreach, but there is for my sources inside no labels a shortlist, the shortlist includes the ackerman to joe manchin glenn youngkin the governor, this is senator. we know the governor of vir virginia. in larry hogan the governor of maryland, those are the three. we have a statement from the labels, they're telling us that not speculating on any candidates who potentially offer this as an insurance policy in the event that they do not like the major policy candidate.

trump biden if the public does not want another choice we will stand down if it's trump invited we might expect one of those people whether they take it were not. youngkin in the past has told me he's a republican and does not see himself doing it and he sees himself running at some point after this governor ron desantis is not dead yet. he is has stalled in the polls we reported yesterday, not cnbc. they are shameless in ripping us off sometimes. it is really disgusting. it really is. we had the story for a whole day. it is on foxnews.com. then they put out this big headline, desantis worried about donors and he is reaching out to them. someone just said in my ear imitation is the best form of flattery. cheryl: okay. >> that is where we are. by the way if he is the republican nominee you won't have to worry about it. cheryl: won't have to worry about the know labels issue? >> from what i hear.

they do have money. next week they will highlight some of that money in a sit-down between huntsman and manchin. cheryl: manchin is interesting. is he a republican, is he is democrat? >> he is a red state democrat. he is an what they called them, dixiecrats, blue dog democrats. cheryl: i keep thinking about ross perot, what that did. >> ross perot was an early donald trump. everything is up in the air right now. we do have, the two major parties have two very flawed likely candidates as -- cheryl: putting it lightly. why chris christie joined us today. give us another voice. >> it was a great interview and a great question you asked him about the no labels. cheryl: thank you very much, charlie gasparino. good to see you. all right, more investors are tuning into the music industry as an area to invest in with a new etf. it is musq.

it launched earlier this week. our county downcloser put it on a list of companies. he said act private about trade publicly. joining me with the list why these are good investment opportunities, intrepid capital, mark travis. clarify this, a company that acts private but is public, what is that? >> it is a founder-led business has gone public i suspect to facilitate estate transfer from generation to generation n a number of cases there are multigenerational management. an example would be markle, insurance company based in richmond, virginia. berkshire hathaway is taking an interest in that business and it's run, the chairman is the founder's grandson. i think you're talking about

liv, a moment ago, and the music business. now that liv gotten past the problems with taylor swift's concert back in november, it's a very, it is a great business, i think like a toll gate on all live entertainment. michael rapinoe ceo, several hundred million dollars in shares. john malone, liberty media is a 30% holder. i think that's a great long-term equity holding. again these businesses that i like are 15 to 20 billion-dollar market cap. a lot of cash on their balance sheets. so, as i would say built to last and in some cases they pay a dividend but they're not too big that a kkr a blackrock or an apollo or other could come knocking own the door and take them out at a higher price which could happen.

like berkshire hathaway. cheryl: i was asking but the taylor swift issue, beyonce issue with life nation, a but you answered that. they ended up in front of congress. there was the huge hewlett-packard la over the ticket sales for taylor swift. let's look at icmvxx. this is something that you really like. why? >> well, the income fund is short duration, high yield debt and i think as many viewers are aware 2022 was one of the worst bond markets in the last 50 years. the broad indexes were down 13 to 15% and you now have obliterated five years worth of investment returns for long duration fixed income investors. for the last 20 plus years we've been a short duration investor and as warren buffett likes to say, when the tide goes out you

get to see who is swimming naked. the tide went out on long duration equity investors and fixed invests last year. our income fund was only off 3%. and today you're earning cash yields, we pay a dividend monthly of about 9%. so i think coupled with some of these equities i mentioned you've got what i will consider endowment type return of four to 5%, so you're paid to wait. you get some upside with the founder-led businesses. cheryl: we'll take it. [closing bell rings] cheryl: market showing green on the screen. investors hope for an ease in the fed's actions tomorrow. ppi. that's it for "claman countdown." "kudlow" is next. ♪ larry: hello, folks, welcome to "kudlow," i'm larry kudlow. in just a moment we'll talk to house judiciary chairman jim jordan about his center stage big news hearing