10 years ago. the interesting cautionary tale, the same list decline of european nation on the same list and hardly any of them. those european nations are tethered to the united nations sdg program, which is exactly what it's designed to co. it's removing individual exceptionalism from europe and removing the opportunities for people to go out there and pull themselves up by the booted strap and start a company in the garage and becomes a multibillion company that saves lives all over the world. in an effort to push back against american exceptionalism, i say be aware of this, folks, it's happening and it's going to be happening a lot more over the next year. knew to my colleague, liz claman. liz: krispy kreme, american exceptionalism. charles: one a month, maybe. liz: wow, you're pretty good. i've have 20 a daytime the fire is burning within the dow and s&p and making fresh 2023 highs

and kicking off the final hour of trades. folks, any gain at the clozapines a new peak for both. the -- close means a new peak for both. the nasdaq was climbing 92 points and dipped into negative territory and about as flat as a pancake right now but at the moment the big question is for the blue chips, will they extend their winning streak to eight in a row. if they dorks that would mark the longest streak in nearly four years. we have big names reporting after the bell ahead of quarterly reveals, netflix made a fresh 52 week high of $4.80 and we're blow that with a gain of about 1% and we've got tesla almost earlier touching $300 a share. that would have neared a ten month high but now it's dipped into the red, down about two-thirds of a percent to $291 and change. as we keep one eye on stocks in the markets, we need to tell you about what's expected to happen at the white house. at any moment, president biden

will announce 13 proposed antitrust rules of the road for all companies and even thinking about merging or making acquisitions. this is not been a merger friendly administration. federal trade commission chair lina kahn tried to block the mergers saying they'd squash competition and buying video game giant activision blizzard and that would be the larger deal in tech history and still alive after a u.s. district judge denied kahn's request to sighmy the deal and a win for -- stymy the deal and bobby is live in studio waiting for clarity from the president. bobby, thanks for being here. >> thanks for having me, liz. liz: it's coming just as the news is about to happen out of washington dc. your deal is not entirely done but today there's an extension to complete the deal till october 18th because we're waiting on the united kingdom to

make their decision here. but in a word, how would you describe what you and microsoft d had to go there, the gauntlet to go through to make this merger happen? >> one of the important -- when you look at mission statement of ftc, one of the important principles in their mission statement is not creating obstacles that are un-networks inappropriate for businesses to be successful in the united states. what we've been experiencing has been a process that actually isn't what i would view as enthusiastic about giving opportunities for businesses like ours to continue to grow and prosper. but if you look at uk, what's happened it the appeals try butler joineddal is giving us -- tribunal giving us and cma -- liz: the competition group's regulatory body. >> right, they're giving us a

challenging time and i think the appeals tribunal pushing cma to move forward and make progress and so there is an appeals try butler joineddal putting pressure on both partis. liz: how do you feel in a word about how the ftc handled your deal with microsoft? >> i think jonathan cantor was on one of the competitive networks this morning. liz: he doesn't like us because i mean i get the sense they don't like us because we do look at what the ftc has done and, sure, some mergers would really hurt competition but this to me was very clear it was fair and you and microsoft had made some concessions certainly, but can i just ask you about the overall gut feeling you've had about this experience with the federal trade commission. >> well, honestly i don't think we were treated fairly and i think when you look at the their

mission is should be to treat businesses fairly and the companies the most successful like sony and nintendo don't need protection from the american federal trade commission and that's what the judge determined in the district court and that's what the appellate panel determined and the law is on our side for this tranq transaction to be completed. liz: does the federal trade commission chair understand where you stand about capitalism and mergers that don't crush the consumer and employees and competition? >> i don't know but i can only tell you our own experience and right now we should be doing everything we can to encourage opportunity for american business, for american workers, for american shareholders, and i think that's an important part of what their mission should be and is. if you look at mission, it's protecting american consumers. i think it should include

protecting american workers. i don't know what the new rules being rewritten are but right now we should be encouraging competition and our transaction is about encouraging competition. liz: this is the guideline expected to unveil and talk about. it's 34 pages. there are about 13 different guidelines about weather companies and whether they should consider acquiring others and americaning with others and another 17 pages of source addendum and all that other stuff. they're concerned about big mergers like microsoft and activism squashing upstarts. other potential competitors and would your activism blizzard microsoft deal make it so big that others wouldn't have a chance to beat you? >> it's the opposite. if you look at companies leading in our industry, you're talking about some of the best companies

in the world like byte dance, alalibaba, sony, nintendo. this gives us the opportunity to compete and now when you add into the mix netflix, amazon, apple, google, there are so many companies that are competing in video games. what this gives us the opportunity is to actually be effective as a competitor, but there's no shortage of competition in our industry. liz: what surprised you most because we spoke back in february and sony, it felt like sony was wild horse saloon perking in regulators ears whether it was the european union or kcma and saying we're going to be hurt. meantime play station dominates the global console market, does it not? >> absolutely. liz: why couldn't the ftc and maybe even the cma not see that?

>> well, i can't give you animals but i can tell you i think the cma has now seen that. they actually took off the table any remedy required for sony. nevertheless microsoft entered into a long term agreement with sony to ensure that our games -- liz: call of duty specifically. >> our games available on the platform and it's not necessary because the nature of gaming requires you to be on as many platforms as possible. if you look at microsoft's history as an enterprise, since their founding their business has been about developing software for every possible platform. and so i don't think those are necessary remedies but nevertheless they have those remedies and i think that when you look at how competitive the landscape has become in gaming, this is a procompetitive transaction. liz: the call of duty and gaming deal, this bidenning deal that microsoft has struck with sony is for ten years once the interest is completed.

what happens after ten years? >> there's no reason for us not to want to continue to support our players. and that's the cespedes essence of the business we've created and about supporting our players wherever they choose to play. so there's nothing that's going to change in our view of if there's a viable opportunity on a plot form, we'll do our best to support it. liz: at any moment, the president is expected to be in the state dining room and he will announce these merger guidelines. if you had the president's ear, or let's even go lower than that, lynna kahn's ear, after this whole drama, what would you say to her or him? >> i would say the world is a very different world today. it's important to recognize there's new technology success around the globe and thinking about in the last ten years alone.

companies like ten cent, byte dance and alibaba and extraordinary companies are extraordinary resources and they're great competitors and it's an interesting fact china approved our transaction without conditions. japan approved our transaction without conditions. so those two companies are recognizing that the type of trade that is necessary and our types of businesses should be allowed to effectively compete. liz: 40,000 approved and ftc and the u.s. tried to block it. >> ftc and uk. liz: and the uk. >> right. and hopefully we'll get to the place with the uk and remedies will be proposed and they're recognizing there's great opportunity. uk historically has been a great country for video games as a industry. they were among the pioneers of original personal computers, there's extraordinary talent in

ai and machine learning there, great artist, anime torrs, programmers, designers so if you're the uk and want to embrace this industry and what we've seen with the eu was, you know, very reasonable set of remedies but also a rem in addition now that our industry has opportunities i know from our own business, our studios in poland and berlin and barcelona and sweden expanding at rapid rate and we'll continue to invest in europe where the talent is. liz: bobby koti krugere, k, activision blizzard and i'll see you again because the merger is not completed and extended to october 18th. we'll see what the united kingdom says. liz: waiting to hear what the president says. we've got a 35 page beast here. we know that goldman sachs' stock turned on a dime, punching into the green after announcing a huge quarterly profit drop. what was it that suddenly got

investors interested in the investment bank shares? we'll tell you next. plus, what wall street is anxious lit awaiting to hear from -- awaiting to hear from ibm's results after the bell. by the way, closing bell ringing in exactly 49 minutes. "claman countdown" is coming wright back with the floor show. nasdaq ceo dina friedman and so much more, stay tuned. ♪ ♪ ♪ 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? ♪ ♪ providing for your family is a top priority.

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leading the dow, verizon is up five full per sen tangerine points here and erasing monday's loss getting swept by the cable issue. and let's start with goldman sachs and i mentioned at the top of hour and that stock up 1.5% and after this hour the big financial appointed a miss on second quarter earnings due to $504 million impairment related to green sky. that's its home improvement lender. a slump in deal making did not help but ceo david solomon turned the stock around after the earnings report and during the conference call when he said his clients he's speaking to see a pick up in mna actsivity is coming. look -- activity is coming. look at ibm moving higher by a third percent and big blues push into enterprise ai with the watson x program and has wall street hunting for signs of the early success.

microsoft, jump to that one and down more than 1% after hitting an all time record yesterday. microsoft no doubt is also going to be watching as ibm forges ahead with open source ai and that's kind of where customers can create their own custom software. apple hitting a record high of $198 and change. this report shows it's working on ai tools that will rival the open ai chatgpt and google's bard. with tech and banking continuing for the second day straight to propel the markets, get to the floor show and joining me is bar barry banister and scott redler. bernards healthcare rendition of anthony, eight days -- barry, eight days in a row for the dow and straight day for all three indexes and how positive on ex-weties overall? >> we were positive from octobet

3750 for s&p till june and the bull market was in cassioppi and cyclical trades from technology to industrials should participate and got more from tech than from industrials. but now we think the s&p 500 begins to flatten out through your end. liz: at what level? >> i think it ends at 4400. give back a few percent in the fourth quarter as the economy bums up on resource constraints and the fed is not that interested in easing and it's going to be tighter for longer i think into 2024 even as the economy shows signs of weakening unemployment. liz: define resource constraints because that sounds like supply chain. >> we are all full employment. and there's structural labor shortage and the economy is going to bump up against the ability to produce. and good demands is exceptionally strong and the

inflation that the fed wants to get back to two might not go back to 2% level on a standard basis and getting time to accept inflation might remain close tore 3% at core personal consumption expenditure level and heavy lift going into 2024. liz: scott redler is our tick by tick and day-to-day trader and i look at what you've been doing and i look at what you were doing and microsoft hit an all time high, you sold. why? >> it did like a push through failure and made a new all-time high and saw the chase going and saw it hit and i'm not sure exactly what price it was. all of a sudden it started to fade and sold down and that was a little bit of a sell setup and today faded a bit and little bit of short term top and we're starting to see stocks do that last desperation push and come back in and that to me is a little sign of a pause. i agree with what barry said at 4572 and not sure where we end up and in the next few weeks maybe get some kind of

corrective phase into the third quarter and the opportunities not as much as they were three months ago when talk about the rotation. you mention goldman sachs going green and yesterday i talked about how bank of america is a buy. and bank of america is up like 4%. it's still not even near the february highs where jp morgan is well above it and i think there's a lot of names that you can trade for alpha and cash flow and broad indexes and s&p 50, this is a spot to reduce, doesn't mean we're going to crash like everyone is calling for but reduce for the second half gains are going to be harder to get. liz: reduce versus crash. barry, we're continuing to watch the markets at this moment in time. do you rotate into any favorite sectors? >> in other words the markets is a game you have to have expectations and that hurdle those expectations and the economy is holding on better

than expected and doll lori harmon showing signs of topping out and commodity i prices shog signs of bottoming and pushing you towards an inflationary cyclical industrial trades and banks like jp morgan and industrials like john deer and basic materials like freeport and that's what we'd trade in the third quarter. not these big tech names. they had their run. liz: favorite fame for this coming quarter? scott? >> positioning options in boeing and i by boeing can get a deal from china and once china gets their stimulus, i think it could happen and i think boeing has a nice channel and positioning in options wait forking a catalyst in news so i think that's a spot. i'm also heavily in bank of america from a few days ago. i don't think a barn burner trade but percentage wise, it's pretty safe and the banks do outperform and then i'm playing tech and playing tech with options because it's had a huge move like playing tesla for earnings but i'm in a call spread just because we just made

over 100 some odd points there. maybe there's one more move but don't want to get caught with a leg sweep. liz: okay, ahead of earnings after the bell. check tesla is flat and slightly positive and bouncing around the flat line. great to have you both. >> good to see you. liz: dow jones industrials up 173 and carvana investors are hitting the accelerator and the stock touching its highest level since august of last year. find out why, next. we've got the closing bell ringing in 38 minutes. we are coming right back. don't go away. ♪ i was told my small business wouldn't qualify for an erc tax refund. you should get a second opinion from innovation refunds 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. with innovation refunds, there's no upfront cost to find out. so why not check like i did for my small business?

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liz: fox business alert. the nasdaq is holding onto gains of october 34 point-blank layupses. it's the one major dipping intofect territory today and we have the dow up about 168 points, a new 2023 high. and we've got the s&p up 18 points, a new 2023 high. see 23 if it can hold for the next 33 minutes and carvana zooming higher after striking a deal with most of the bondholders to cut their debt by more than $1 billion. look at this jump, everybody. 37.7% gain. to $54.82. the deal basically eliminates 83% of the notes due to ma sure by 2025 and 2027. online used car dealer debt

ballooned to $6.5 billion. carvana stock, keep it in perspective dropping 87% over the past two years. jovi aviation hitting turbulence after jp morgan downgraded the stock from neutral to -- drop the stock to neutral from overweight. despite raising the price target from $5 to $6. the stock has been a real winner up about 150% year to date and it's pairing gains down about 16% at the moment. the bank said the recent rally was overblown and short covering and competitor administer chef aviation and these are autonomous planes. we haven't explain that had yet. look at that thing. it's down 10% after being raised from $5 to $6 and higher than

the value of the stock up $4.70. toast getting burned at this hour by about 14.75% and the restaurant technology said it's terminating its 99-cent per order processing fee. the company said it was getting push back from its customers complaining about the added fee. but analysts, you know what, they're looking for more fees. they're not happy with the decision and say toast could have added $20-$30 million in revenue from fee and stock at $28.21. revisit at&t because it's been a train wreck over the past 48 hours and it's now higher by 8.25% after the telecom company revealed that lead clad cables were used in fewer than 10% of the country-wide copper wire telecom network. at&t fell to its lowest close in 30 years bag on monday after a wall street journal report that at&t and vie southern had left -- verizon left cabled

covered in lead buried and harmful to communities and both would start testing sites for possible lead contamination and at&t is scratching back some of that and verizon is up 4.9%. let's get to soaring inflation. last year it was so bad; right. it had already thrown retirees budges into chaos and some people saving for their golden years are going to lose some of their promised 401(k) tax breaks and joining us is jerry willis. when will this happen? >> next year. it's a big thing for people doing that pre-saving and they're adding a bit more in and look, million of americans are set to take a hit when changes to much used retirement deduction kick in next year. right now workers over the age of 50 are able to make catchup contribution to their 401(k) worth up to $7500 a year and annual cap on all contributions

is 30,000 and new rules because of congress beginning next year people earning more than $145,000 will no longer be able to put those payments into a traditional 401(k). instead the money will be funneled into a roethlisberger ir a and roth ira and worker catchup contributions made with tax dollars rather than pretax dollars and the change impacts many people. vanguard estimates 16% of eligible taxpayers took catchups in 2022. the change however maybe delayed. more than 200 employers and 401(k) record keepers sent a let tore congress and won't be able to meet the deadline and might have to discontinue offering catchup options. some planners say paying taxes up front on retirement dollars is good and savers will face no tax in retirement but saver anticipate no income in retirement thinking they'd be in

a low r tax prate bracket and paying less on the tax dollars and looks like the government wants their money now not later. liz: when you retire, you usually don't have income unless it's from things like dividends and stocks and not everybody has that. >> exactly right. 52% of americans are not prepared for retirement and that's more than half of ameramericans and we need to do everything to help them get ready. liz: absolutely, gerri, thank you. nasdaq dina friedman is rebalancing the index and the upcoming changes to the nasdaq 100 that involves stocks you probably own. we'll also talk earning ands upcoming ipos. closing bell 27 minutes away. dow jones industrials up 130 points and we're coming right back with adina freeman.

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has gone absolutely -- liz: the nasdaq gone par boll ick and -- parabolic and the stock with the beat on stop of and bottom line and despite an ipo and nasdaq able to solid and the ipo market sprouting a few green shoots. what is next for the exchange? well, lucky for us, we have chair and ceo adena friedman of the nasdaq. this rally for the nasdaq this year is epic. what's it like if your world. nasdaq is not just as we all know technology stocks and the

performance and we had a couple challenging quarters and we are seeing the next business and growth in the company overall. >> our solution businesses as you mentioned is including our next business was up 6% and then one of the areas that we always like to talk about is anti-financial crime business and up 19% on the quarter. liz: that's the perfect example of diversifying and sat on your laurels and said we're the nasdaq. we do ipos. we're an exchange, and we're technologically advanced but this has been a passion project of yours and it's offering banks and all kinds of other exchanges this opportunity to beat down what is such a growing problem. >> it's been a $4 trillion issue that the un estimates in terms of money laundering through the system. the banks are on the front lines trying to solve this problem and we bring a very advanced technology solution to do it. we had 51 new clients in the quarter including four tier 1 and tier 2 banks that we're

really proud of and how do we use cloud ai and technology and index and technology is an unstoppable force and all this new technology coming in and it'll just keep enabling us to be smarter and better at finding and rooting out criminals across the system. liz: speak of technology, ipo and ipo pipeline had been just dripping little droplets over the past year or so. now there is what appears to be a really solid pipeline. you've got 150 companies lining up like planes at o'hare but everyone is looking for arm. i mean, i was just talking to animal list who said oh my god, liz, what's the story nobody is talking about? the ipo market is heating and you happen it's going to start with arm, which is going to be spun off from soft bank. you landed it. well, we've landed a lot of great companies that are coming out, including arm. i think what we're excited about them coming out and the ipo and the makeup company and light

green chutes and more interesting companying coming out in the fall and late quarter and second quarter and making their planes and we see really great performance coming from the companies over the summer and into the fall we could also -- i do think it'll give more and more of the companies confidence to come out into the market. liz: renee hoss, ceo of arm, the chip maker company has been on the show, and it's a really fascinating company and it's going to be major. how has the way you land ipos changed over the past couple of years? >> well, i think first of all we've been really adaptive to the variety around us. covid made it so that we had to have remote opens and now we're back in person and just redoing the studio and have even better space to offer our clients as they come out and they celebrate their first day. we also make it so we can do remote opens and do opens from all over the world to make it so they feel that every single part of what we do is special and

made specifically for them and support them for years and years as public their brand is a public company and ir capables and governance and really helping them be accessesful in the -- successful in the market. liz: let's talk about the rebalancing that's looming and what is the biggest criticisms that over the past six months, seven months, the rally at least when it comes to much of the s&p and the nasdaq has been helped by seven stocks. we know the big ones. they're waiting on the nasdaq 100 is outsized and you're going to change that, how? >> yeah, so the way the index works is it's a complete rules-based index and everything we do in the index is determined by rule and the one rule is 5%

of the index can't comprise the leading index. we approach that level of waiting, we go through a rebalance and we bring down -- essentially cap the waiting of those particular possibly compcomponent in this dais socil security tevin companies. liz: microsoft, tesla, apple, nvidia. >> that's right. there's one company and really six companies that are technically re-weighted and seventh is a bigger weighting than the sixth and it's a technical re-weighting of that one as well and that's meta. when we look at what's going to ultimately have the outcome is make sure they're safely under that 50%. last time was in 2011 we did this. liz: it's been awhile. >> one of the things that we're actually pretty pleased to see though is that more ovthe growth in the market and the index is now moving down inside into other stocks. i think you're starting to see investors realize they've been on the sidelines for awhile. it's time to start putting money to work.

you're starting to see them spread their investments into more parts of the technology ecosystem. liz: great to have you, adena. >> great to be here, liz. great to see you. liz: we're neighbors and fox is a nasdaq stock. >> absolutely. you're a wonderful nasdaq stock. liz: thank you so much. goldman sachs notching one of the weakest quarters and charlie gasparino will dig into this next on 4:the amateur -- how the amateur dj will spin the narrative for wall street and by the looks of the stock, he's spinning it pretty well because goldman's turned around over the past several hours. stay tuned, we're coming right back. ♪ ♪ (i see it, i like it, i want it by shirley ellis plays) ♪ ♪ and i want it ♪ ♪ yes i do ♪ ♪ i need it ♪ ♪ to make me happy ♪ ♪ oh baby, yes i do mean you ♪ ♪

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♪. liz: so we really need to see an intraday of goldman sachs. see how it was down? guess what? it punched up into positive territory and has stayed there. it is up more than 1% despite a pretty dismal earnings report that showed the company's profits plunged 58% in the second quarter. the outcome is putting pressure on ceo david solomon even though he has been at least today been able to turn this around but let's talk to charlie gasparino.

>> one of the great things about the "claman countdown." liz: is me. >> besides you. liz: i'm kidding. >> got the name claman in there. not me. this is one-stop shopping for really good sources. you come here, having a cup of coffee with larry fink. see adina friedman. liz: bobby kotick. >> i asked adena, this is my wheelhouse i cover big financial firms. i said what is going on with david? doesn't seem, never seems to be able to catch a break, right? we're always talking about him. she said they work with him a lot and that he actually gives amazingly good guidance and i think that is why the stock turned around. he gave very good guidance to the street. the street is starting to believe his story he is getting some of these charges out of the way and that there is more clear skies coming for goldman and, this is like a one-off thing. they had to write down some real estate and some other things. that is the bullish view.

that is what she said. take it for her word, adena knows her stuff, right? the more sort of pessimistic view, i'm not saying i ascribe to either view is this, the business model is a two-trick pony, right? they trade. they do investment banking and they don't do much else okay? they're locked into something that's very much tied to the vicissitudes of the market if there is a commercial real estate problem out there they're going to get hit because it could be in their portfolio and they don't have ways to make it up. not like morgan stanley. liz: jam the thing in the ear so you don't keep futzing with it. >> i know. you can wrap me, okay? they're a two-trick pony. not like morgan stanley. they don't have the stable earnings and this doubles down, the need that we've spoken about a lot. that david solomon needs to do a

transformational deal, to basically take, turn the place around. we should point out again because of this there will be calls from inside and outside. he is doing horribly. i will say this. the fact that the stock is up now shows that he has been able to sell his vision. he is out there telling people. he is preparing -- liz: some client are talking more about m&a activity? >> yes. so he, he also sees the light at the end of the tunnel with m&a. remember that's their bread and butter and we haven't had a lot of m&a. liz: well we might not have more because you've got the president making announcement today about new, quote guidelines. >> ridiculous. the justice department, people were saying why isn't people doing transformational deals? why isn't sherry out there, shari redstone, i reported this when you weren't around why isn't she doing a deal now instead of looking for a spin-off to generate cash. liz: with paramount. >> with paramount.

say, ceo of a major entertainment company said, charlie it will take two years to get through this justice department and that's, that's not -- liz: if at all. >> if at all. they will definitely challenge it. so that's one of the problems i think that david has long term his business model is too just, based on a couple of things. you do have to take write downs every now and then. by the way we do have a photo of me floating around the internet, you know? liz: we have quite a few photos of you doctored. >> i don't know if this is doctored. do we have it? i've been getting this lately. another one with me in a g-string. liz: that is a snapchat picture. >> by the way there is another one with me in a g-string. liz: i can't unsee this. like milton berle having a bad day. >> jon najarian our buddy, jon najarian, i can't unsee picture of you with the g-string. because of the xrp people. they think i hate them.

do i hate them? you're a big xrpfy? they think i hate them just because i report fairly about brad garlinghouse the fact they had a split victory. they think i'm not. liz: looking at that stuff. who cares. >> ever see -- liz: no, i don't. >> literally me in a g-string. like,. liz: all right. >> try to unsee that one. [laughter] liz: thank you, charlie. breaking news. negotiations between ups and the teamsters are now set to resume next week. ups says it is prepared to increase pay and benefits but needs to work quickly to finalize a fair deal. you can see shares are moving up but it is kind of a net-net neutral here because, they were already up and then they fell. they're up again. up 1% at the moment. we'll keep following this story. meantime we're five minutes away from the closing bell. any gain, even a fraction of a

point for the dow, the s&p, and the nasdaq will mean new 2023 closing highs. too late to get in on the action? or can this rally continue to run? joining me now with what he says is the answer to that question, based on a unique quantitative system he has come up with is howard capital management ceo portfolio manager vance howard. vance, you developed this proprietary tool, what is it, how does it work and what is it telling you? >> basically, liz, it is a trend indicator all it is. you heard me talk before don't fight the fed and fight the trend. the trend changed back up middle to late january. we went 100% in. on every radio show program, everybody looked at me like i had two heads in february be march, april. looks like the trend is clearly up. we're clearly in. now you have fomo, fear of missing out. they're diving back into a lot of stocks. pushing ours higher. we're in a new bull market, liz.

liz: a new bull market? >> yes. liz: so, vance, my dad used to say when times are bad everybody thinks the bad times are going to last forever and they don't. when times are good, everyone thinks they're going to last forever and they don't so how do you prepare and what does your metric tell you about when we might see a bit of a correction? >> we're not, we're going to have normal pullbacks and volatility in the market but that doesn't mean the trend is going to change. as long as the trend stays you. you continue to buy on every single pullback we have. when we came out of 2008, i remember very clearly that was a horrible bear market. there was a lot of cash on the sidelines after that time. the trend turned back in 2009. we almost had a decade long bull market. three or four years thrown in sloppy, not much fun but it was a long bull market. that could be setting up right here especially with the amount of cash on the sidelines. 5.5 trillion in cash. that can fuel this thing for quite a long time. liz: let's say there is a lot of

fuel out there. what kind of engines are you putting it in? what names do you feel have the real opportunity to continue to muscle higher? >> you have to trade what is working. what is working is second, microsoft, apple, amd, nvidia. tough stay what is continuing to work. they will move higher this is the future. we own a little it about proctor & gamble but let's face it they will not make the most exciting bar of soap to encourage people to invest but these other companies with a.i., some of the things they're coming up with, wow, it could be just spectacular. liz: what about the bond market? is there a signal that you look at that it might be sending at the moment? >> we do look at signals like that. we do see the bond market starting to base out here. i think fed chair powell is done. i think he has done his work. maybe pop us one more time with one more rate increase but the fed is just about done their work. so the on bond market side i think there will be opportunities later in the year but into 2024. i would stay away from bonds. i would look at what is working which is tech.

liz: you i have found operate the bar c ranch. vance, with your accent i could have figured that. that's understandable but it specializes in registered longhorn cattle. tell me about the beef market. how is this going? because it almost feels like some of the plant-based meat that was very hot over the past couple years is scaling back a bit and it's not so much the trend at the moment? >> i don't think i want to eat plant-based meat but you know, i like a good steak, on the bar c ranch we long longhorns, kangaroo, will today beast. we have a lot of exotics. it is fun. grass fed steak that is where you want to be. liz: grass-fed, yes. dow jones industrials up 114 points. we're on track, vance, for eight sessions in a row of wins. again, we're looking at the large caps doing pretty darn

well. today verizon is a leader. the laggard is bowing which our trader at top of the hour scott redler says time to buy. he likes to build on boeing. sales forges a winner, coca-cola, disney. you like any of the dow names? >> i do but that's a great thing this is broading out. liz: besides apple. >> this is the broadening out of the market. this the is new bull market. this is the way they behave. liz i've been on your program a number of times, and you heard me say this don't get negative on america, don't get negative on your markets. we have the most innovative hard-working people out there. liz: i just said that to adena. don't count out u.s. business. [closing bell rings] there go the bells. the dow closes higher, makes it eight in a row, the longest win streak since september of 2019. that will do it -- ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. joe biden may want to throw donald trump in ja