to spend trillions of dollars on manufacturing and other pet projects that we've been talking about all show long, how about training americans to get those jobs? recently, taiwan semiconductor had to bring 5000 workers over. they couldn't -- 500 workers over. they couldn't find them here. but it can turn around and, of course, i hope it does soon because, to be quite frank with you, more folks are going to find themselves struggling. they do this survey every single month, people struggling, and it's just heart heartbreaking, but it's also really telling how many people out there cannot find $400 in a pinch. so we'll keep an eye on that and, of course, we'll keep an eye on this market as well. liz claman, i hand it over to you because this last hour, i think, is going to be pretty, pretty wild. liz: we're like dr. seuss with eyes on the sides of our head, we're looking in many different directions for our viewers, charles. we have two major breaking stories we're following as we kick off the final hour of trade. ing a day after stocks plummeted in the wake of that down trade

of the u.s.' creditworthiness by fitch ratings agency, the markets are mixed. but all four major indices are well off the lows of the session. dow is up 3 points. s&p down 1 point. nasdaq up 22. you're looking right now at former president donald trump who is just disembarking in washington d.c. he will then get in his vehicle and head to his arraignment. trump will appear in federal court to answer charges he con conspired and plotted to overturn his 2020 election loss. as you see, he is getting into an suv. he's got security. we have cameras all over the nation's capital to follow this. ing fox business' grady trimble is standing by at the courthouse where trump is set to appear in person at 4 p.m. eastern. he may be asked to enter a plea, and a judge will set release conditions. he's fully expected to plead not guilty, by the the i way. we're going to keep you posted minute by minute as events

develop. and in the meantime, he is in that car at the moment. he will take to the road. let's get to the markets and take it to wall street. the dow is at risk of posting its first back to back losses in a month. the blue chips have been crossing the unchanged line right and left all session long, right now down just under 3 points. yesterday look at the 2-day picture, the dow lost 348 points or 1%, but it's the nasdaq which might be the more interesting story. after getting torched wednesday when it plunged 310 points, that was about 2.2%, the nasdaq right now is up 17 points. it's held on to gains for a while now in the session, a although earlier it was down 92 points. at the moment it's a fraction of a percent above the flatline. and let's look at the preponderance of u.s.-listed chinese stocks that are buoying the nasdaq 100. pin duo is a big winner, up 5.5%. jd.com up 3%, now, we need to

show you some names on the move after reporting quarterly results. two of them are the biggest laggards on the nasdaq 100. paypal. paypal beat on both the top and bottom line, but the stock is creatorring -- cratering on news that active accounts and operating margins fell sequentially. qualcomm down 11.5% after an anemic smartphone sales forecast for the current quarter. just about everyone though is not looking at this morning's earnings or yesterday's. on wall street they're focused right now on apple and amazon, the two market mast dons as we're calling them. they report after the bell, so in about 58 minutes all bets are off. the closing bell will ring, can and we'll hear from apple, expected to report its third consecutive revenue decline. shares right now flat to slightly lower by just under half a percent. and amazon's up nearly 1%. investors are going to scrutinize its aws cloud services and e-commerce revenue to gauge the health of those powerhouse businesses.

so as the bulls claw back, or at least try to in this final hour, let's bring in trader scott shellady. scott, we've got a couple of indices that have turned around even though the bond market's getting hammered as yields rise. give me your assessment here. >> i think the market's nervous. i think this is the first time in a while that it's acted a little bit nervous. because if you really take some of the non-headline news, i know we've got everybody calling for recession. i still think we're going to have one. you have to kind of give up on what time you think it's going to happen, that's where everybody's gotten in trouble. but when you see what i see, we have a great stock market because of artificial intelligence. i love artificial intelligence. and we've got decent jobs. we've till got a tight jobs market. so if you want to talk about a bad economy, the first two things people throw back in your face are what about jobs and the stock market. but i think those are thinly-veiled success stories. i do think you can see things crack, and you're going to be able to pick up stocks at a cheaper price.

i think the 10-year yield is telling you, hey, we're worried about inflation again. crude oil is up $2 last i checked, that's an issue. we still have food prices that are very expensive. and for those of you who think that inflation is coming down, it's not. it's just riding at a slower pace -- rising at a slower pace. last year we were up 9.1%, so pices are still going up but with at a shower pace. i think main street's got some problems. my two key indicators i'm watching very closely are the consumer and oil. liz: well, consumer, we might get some -- [laughter] some clarity on that from amazon when they come out at least with their e-commerce numbers and, hopefully, they'll be good at least to show an indication that they're holding up. scott, we're looking at the 10-year yield up 10 basis points. but aside from that, you're talking about stocks starting to look a little more tasty, i guess, perhaps a lower price. can you give me a sense of what's on your shopping list? i know you've been in t-bills,

but tell me as far as equities are concerned when they get low enough. >> right. well, i put the money on the t-bills, and there's the penalty to take it out, but i'll be happy to do that if i think things are the right time, and i think we're getting closer e. hook, it's been 23 years since we basically last had our books balanced. let's say bill clinton's presidency, right? and the last time that that happened was because of the success of the internet and anything that had a dot.com after it everybody loved. we had a dot.com bubble, i think we're entering an a.i. bubble, but that doesn't mean there's still not going to be some opportunity there. i think, i've been talking about it for a long time, liz, probably 20 yearses, maybe 15 of them on your network, but i've been looking for the next great thing that was going to rescue us from our bad habits. i.e., spending. everything that fitch just said, you know, yesterday. and what that's going to be, we thought maybe it was going to be health care, we thought there was going to be some tweaks to internet, but i think really it's going to be artificial

intelligence. the learning that that thing does -- liz: those are expensive right now though, aren't they? >> i know. they're too expensive for me too, but i think you're going to get a chance, so i want to have my powder dry and ready when it does happen. look, the consumer is starting to spend on fumes. all-time low savings rate, credit card balances over a trillion dollars, mcdonald's and costco have said they're starting to see consumers trade down. they don't have money forever. auto loan delinquencies through the roof, foreclosure ares spiking, corporate bankruptcies spiking. challenger gray and christmas just said for the first six months this year versus last year, layoffs and job losses are up 244%. liz: yeah. >> something's going on out there, and i'm going to be ready when we do see people exit the market to pick some of these up at better prices. maybe not bargain prices, but better. liz: scott, thank you very much.

the first-time jobless claims came in pretty much even with what was expected. okay, it's been just under 48 hours since fitch down graded the united states' creditworthiness. we want to show you this, monday, the day before fitch stripped the u.s. of its aaa rating, the yield on the 10-year closed at 3.95%. fitch cited the nation's $32 trillion in debt and detier rating financial state for the move. today, right now, the 10-year yield touching a 9-month peak at 4.188%. now, yesterday as stocks tanked wharton professor jeremy siegel told "the claman countdown" nothing to see here. >> it is ridiculous, liz. the fed can always pay off the debt. the fed can print the dollars to pay off the promised debt. so there's really no possibility of a default. liz: siegel's an economist and a brilliant one, but what do real world bankers who need to lend

and refinance personal and corporate loans think? vice chair of bnp paribas usa, the u.s. tuition of the world's fifth -- division of the world's fifth largest bank. your gut reaction to how the markets reacted to the fitch downgrade and how you are conducting your business in light of that. >> there is no real news as it relates to the, you know, debt, sovereign debt versus gdp ratio here. and it is the absolutely our views that over the medium term any administration will have to continue to master and navigate this complex situation. however, as you just highlighted, we've seen mixed results, you know, from the marketplace which i think very short term i don't think it will have a real impact on the stability of the economy and the stability of capital markets. liz: now, the interest rate reaction is very interesting. eleven years ago -- or 2011 when s&p downgraded the the u.s., we

had treasury yields fall. they are actually rising right now, and that is only making borrowing costs more pensionive. how are you -- expensive. how are you dealing with interest rate risk? >> quite interestingly, you mentioned fixed income. i mean, the fixed income ride has been a good ride since the gunning of the year. beginning of the year. investors like the steady annuity, the quality of the underlying assets and equities have been on and off. liz: it's nirvana for bond investors. >> and if i were to relate to what we do on a day-to-day basis which is providing access to fixed income markets to our clients, the individual investors have been extremely, i would say, bullish on this segment, you know, specifically i grade and asset-backed securities have been extremely vibrant. and more specific chi, if you look at -- specifically, if to you look at new issuance, corporate debt new issuancings are up 40% on the year.

it shows that investors, particularly on the individual side, have real comfort at least in what this economy might be doing over the next two quarters. liz: tell me how you have tightened your lending standards at bnp usa. >> what the bank benefits from is actually to have quite diversified i would say business activities and client profiles. and is we benefit as well from being well capitalized, well funded. then we've been able to actually continue to support our clients the best way we can where the bank has been more specifically lending and it's very targeted and specific, it's for all high quality, high grade clients that, you know, could have access to marketplace right away but waiting a bit more they felt they could get a better, optimized price-related transaction. this is when we lend, bridging, you know, hopefully a more convenient time choice. liz: i want to get your outlook

on the equity markets, but before i do that, march. silicon value lu bank went unded ender. the regionals lost so much market cap. it was a mini bank crisis. it was two years ago, december of 2021, that you sold off the regional that bnp usa had, bank of the west, for $16 billion plus. that looks like a genius move in timing because today i'm not sure it would have been worth that. the i mean, you look at some of the others whether it's comerica or zions bank with, and you can see what their market cap was in 2021 and how much lower it is right now. right? i don't know if we can show that, but we have the comparison, because it's really important to see that, for example, comerica in 202021 was $is -- 11 billion market cap. today it's. billion. -- 7 billion. you look genius. what did to you do with that financial firepower of 16 billion? >> well, thank you for the nice

comments -- liz: well, it's just fact. >> i have two comments on that. bank of the west, which had been part of -- for 40 years was a wonderful bank to have in the group and actually was doing very well, was going to do very well staying with bnp paribas because it was -- and the fact owned by a well-funded, well-capitalized bank would have fared really well, including under this complex cycle. the acquirer, bank of montreal, has very similar characteristic, well funded, well run and, i think, will benefit bank of montreal because now they have a nationwide franchise complementing what they have on the east coast. now to your point, and this is my second comment, what you're touching very smartly here is there is probably a need going forward for further bank consolidation. liz: consolidation. >> and by the way, it's nothing enough new. if you go back to 1920 thes,

we had 30,000 banks in this country. in the '80s, 10,000. today, approximately 4800. it's probably still too many. we expect further consolidation. i believe though, you know, as we just look at the bank of the west that there is still a place for regional and community banking. it's the federations, 50 states, different needs, and it's till going to be there. still going to be there. however, the remaining banks including the community ones will have to be well funded, well capitalized and probably better run. liz: can i just ask your opinion on the best equity prospects that you see right now? >> that's a very complex question -- [laughter] liz: you're a banker. >> i can comment on at least the sectors i see a good dynamic. and, by the way with, it's connected to the still very resilient economy. tech, we mentioned a.i. earlier, but health care, i did a lot of activity in there, pharmaceutical -- liz: health care, pharma. >> and not to mention, and i can sit with only -- some of our

clients, strong business activity linkedded to some of the government, you know, acts a like the chips act, the infrastructure act, the ira that is really providing a lot of appetite the for investing in fire, in technology, in -- fiber, in technology, in digitalization. liz: great to have you. and this is why we bring people like jean-yves to you, because he's in the trenches. we really appreciate when you come on, and it's rare, we love having you. thank you so much. >> thank you very -- for having me. will. liz: a day after salesforce said it cut more jobs beyond the 8,000 it announced back in january, shares of the business software giant are down 2%. year to date stock's a big winner, up 63%. and now salesforce making a big move to elevate its office messaging platform slack by launching a new version. up next, slack ceo is sere to exclusively unveil elevate which embeds the best of salesforce

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liz: let's get you a little more granularity as to why salesforce is at the bottom of the blue chips, right now down about 2% just a today after the software company said it's going to cut 50 additional jobs on top of the 8,000 it announced back in january. the stock performance is kind of overshadowing a big with update to salesforce-owned slack, the instant messaging program just unveiled its elevate feature

geared towards its users working in the sales industry. what can it do now to ring in more business for those who pay up for it? slack ceo lidiane jones joins me now in a fox business exclusive. lidiane, investors have been eager to see how salesforce would mind meld its products with slack. how does elevate do that beyond the basic slack interface? >> liz, thank you for having me. it's an exciting week for us here because we're getting a chance to bring what's best about sales cloud and natively integrate into slack. what this allows is that everything from notifications to bulk updating opportunities can all be done here in slack, and that allows teams to be more aligned, it allows our sales teams to keep their information up-to-date regardless of where they are because they're getting a great, beautiful work experience. so truly a beautiful sales-tailored experience in slack connected the salesforce for all of our customers.

liz: well, of course you've got to monetize it. it's an additional cost of, what what, $60. can you give me a sense of what will make that really valuable beyond what you've just explained? because right now corporations are cutting back. they don't want to pay more for things like this. >> yeah. liz, look, what we have found is that most of our sales professionals around the industry are spending less than 30% actually selling. most of the time spent on pipeline management, trying to keep data up-to-date k and what sales elevate does is -- we are focused on how can we accelerate the productivity of every seller in your organization. what we have seen with our pilot here at salesforce, we're using this with all of our sales members as well as our customers, some of our customers are are already using this product today, is that they have already spent 76% less time in

pipe lauren management. that is -- pipeline management. that is massive on themyization of our sales capacity which is really the overall revenue for our customers. liz: well, now you're talking the language that i really wanted the hear, because we've got a crack ad and sales, ad sales team here at the fox medi. [laughter] business, and i know they want, they want to make sure they get something. we are, of course, customers of slack. lidiane, speaking of integration, slack gpt is the platform you guys are going to unveil soon is. what is this going to do, and on top of everything else, in a way, i mean, today alibaba just announced it is opening its large language model to third party developers. obviously, that's a big deal, and on top of that we just had ibm's ceo, arvind krishna, he unveiled an a.i. partnership with salesforce -- sorry, with

sap which is a salesforce rival. are you guys a little behind on in this? and once you get it out there, how will you catch up? >> liz, we have been in the ad space for a really long time, but with you're outlining an importants a -- aspect of what is happening right now. there is a lot of choice of llms and vendors, and we are taken a unique approach of a flexible, open platform. so we've launched earlier this spring a lot of capabilities on our slack platform that allows not only our customers to choose what vendors they want to use, but we can tart custom building apps. since we hawn are. ed it in march -- launched it in march, we have many and many more are coming. we have seen over 4200 # apps with generative a.i. built in slack. so we're really at the forefront of this incredible evolution in the market, and what you're going to see next from from slack is natively-built experiences. so seeing that you're a slack

customer, you're going to be able to chance up on channels, on messages you haven't read yet, you're going to get writing assistant, more natively-built search capabilities is the and much more. very focused on simplifying your life and increasing productivity. liz: yeah. messages. at peak times of the day, slack moves 3000,000 the messages per second -- 300,000. it's nuts. i know you can't talk about the antitrust complaint that slack has filed against microsoft teams, the competitor for embedding its teams into the office product. you filed it with the european union. but ex that that and looking at this picture at 30,000 feet, how do you plan to dominate the professional messaging in-house system world when it has gotten really cutthroatsome is. >> liz, we have always been focused on delivering incredible customer experiences across the board in slack. and certainly when we look at the opportunity ahead of us

between slack and salesforce together, it means that we can bring a much more productivity platform, broader, that allows our customers to integrate the entire portfolio of applications into slack. that is a really important differentiation for us, and with salesforce as a core part of our strategy, we can bring slack to every line of business user. liz: lidiane, congratulations on the gig, to be the ceo of slack. a long time coming. it's great to have you, thank you so much. we are coming right back. dow jones industrials now in the red by 35 points, s&p down 8. henrik fisker of fisker is about to unveil a sub-$30,000 if ev right here on fox business. don't go away, you've got to see that. ♪ ♪ ♪

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liz: fox business alert, take a look at the markets here. dow, nasdaq, s&p have all converted, they are now in the red. let's talk about some industries. industries after all -- of all kinds. upwork shares popping # # 4%. that's -- 44%. upwork just reported a.i. was the fastest growing category of its business during the first half of 2023. the company reported a beat in the second quarter and raised its full-year forecast but, you know, when you mention a.i.,

stock goes skyward. online marketplace it9 city is selling off after -- etsy is post -- shares are down 13.5% right now, set for their biggest 1-day decline since may of last year. even as the company saw a record number of active buyers on the platform during the second quarter, the stock cannot seem to the get anywhere near the green today. wayfair hitting a 15-month high driven by a surprise second quarter profit. the online home furnishing store posted improving gross margins which offset declines in revenue and active customer numbers. shares are currently up by 16.5%. nintendo getting quite the boost here, a 2.25% move for anyone ten e doe after the gaming giant reported fiscal first quarter revenue rose 50% year-over-year. yeah, it's the super mario brothers' movie but also the new zelda game. for its part, the movie

generated more than $1 billion at box office, and nintendo's latest zelda game the fastest selling title in the history of the series. as a result, nintendo saw quite the halo effect, 13.9% jump in sales for its switch consoles. and china's ev maker byd accelerating its lead over tesla in the chinese market. sales of tesla's china-made vehicles dropped 31% month over month in july, the first decline since december. it's not hurting the stock. the stock's up 225%. but by -- 2.25%. the byd customers like the lower priced model over tesla. so with the rebate, byd's dolphin, depending on which country you're in, is priced below $30,000. it's something ev automakers here in the u.s. have are vasin. that moment is here. fisker, on your screen,

unveiling a sub-$30,000 electric vehicle called the pare. we are show -- pear. we are showing it to you first on fox business. the fruit of fisker's labors next courtesy of a live interview with ceo henrik fisker. and we are, of course, keeping an eye on developments out of washington, d.c. where former donald trump is now inside a federal d.c -- d.c. federal court for his third indictment. alina habba walking with to the cameras for a press gaggle. we are going to monitor that, there she is. she is making some comments while the president, the former president gets for instanced -- fingerprinted and is expected to answer to the indictment charges that he tried to overturn the u.s. presidential election. closing bell, 27 minutes away. we are coming right back, don't go away. ♪ ♪

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liz: okay. whatever you're doing, put it down and look at this. does fisker have the key to unlocking mass ev adoption. the automaker is giving "the claman countdown" a look at its first new all-electric fisker pear offered at $29,900. the pear will seat five and has two battery pack with a 310-mile range, also expanding its current ocean suv fleet with another off-road edition called the force e. its ocean fleet includes the sport, extreme, ultra and the soldout original model called one. the ev maker is on deck to report second quarter results tomorrow. investors are charging up the stock right now by 4%, but year to date the company has already many missed production targets during the quarter, is so how is fisker going to children out these new vehicles on time?

live from los angeles first on fox business, fisker cofounder and ceo henrik fisker is going to tell us. first off, or we want to see the pear. show and tell. >> hi, liz. yeah, absolutely. you know, today we are boeing to reveal the pear if -- going to reveal the pear as the full, finished vehicle. we are super excited about it, and it's radically different, actually, and we're going to go through some of those features that the pear have. it was really designedded to be a whole new type of mobility devices where we look at people's lifestyles today and in the future whereas if you think about cars today, they're really designed the same way for the last a 50 years. they have the same way of getting in and out, the same sort of hatch or trunk. so we kind of reinvented all that with the pear. liz: we've got our camera crew right there, and take a look because i want our viewers to know. it's kind of in the dark, but with describe what we can see. the headlights look really cool. give me some, golly, gee whiz details about the pear. >> yeah.

so, i mean, you can see it's got very high-tech details, like you mentioned the head lamps, super slim. it's kind of our signature. in the rear we have the tail lamps wrapping all the way around. it's a really come -- compact vehicle but it's got great road holding. it's got a wrap-around front wind screen almost like an air glider, and you get a great view when you're driving around. that's manager that's important. and then we came up with, you know, a couple of new ideas that we're going to introduce today. one is the houdini trunk where you can actually open the trunk, even if there's somebody parked right behind you like a big truck, you can still get into the trunk, and it just disappears. i think you mentioned the pricing is the most important, $29,900. liz: and with incentives, can you give us a sense if there are tax rebates? depending on which congress is in and deciding who gets what, can you give us a sense of the

price after the tax incentive? >> after the tax incentives currently, that should be in effect, i think, for a few years, then it's $22,400, so i think almost anybody can a afford car. and it's a lot of car for the money. it is super cool. it's sort of like a crossover, but it's very sporty. it drives very sporty. and like you mentioned, it fits five people easily, five grown-ups. we're trying to revolutionize here, and we did it by coming up with a new concept for how we actually developed the vehicle. we call it steel plus plus. we took 35% of parts out of the vehicle, so we use 35% less parts which makes it a lot faster and easier to assemble, and that's part of how we get the price down on this vehicle. liz: i'm amazed. $22,400. you've got general motors, you've got tesla trying, rushing to get a sub-$25,000, sub-$30,000. here you guys have done it.

but here's what i worry about, henrik, you've had trouble making deliveries. if you look at some of the numbers of your deliveries, i think you made in the second quarter 22 can deliveries to customers. people are waiting. they want these cars. how can you say that it's going to be early 2024 that you'll be able to deliver the pear? >> so -- well, no, early 2024 is the force e. the pear is 2025. liz: oh, okay, so -- all right. but either way, how are you going to churn these out on time? [laughter] >> well, you know, you're absolutely correct, i mean, we have i think like everyone else in the car industry experienced the same covid hangover that everyone have, everybody have. and, of course, we also had suppliers which which couldn't deliver, we have had difficulties, and i think we've been very open about that. and, yes, it was difficult. we have delivered much fewer cars than we expected. i think our key advantage here is that we already have a plant that's up and running that's,

you know, people in our plant are super experienced. we obviously have a contract manufacturer. and they're already making cars for other manufacturers. so once we get our suppliers in line, the scale-up can go a lot pastor. we do expect later this year -- a lot faster. we do expect to produce about 8,000 fisker oceans, about 300 a day. is that's, as long as we get the supplier s up and running, this'll be, i think, we'll be okay. but it took longer hand we expected, absolutely. liz: 300 a day for the ocean. all right. well, a lot of people on the wait list. there are, like, 70,000 as i understand it are waiting for that, and some of those are the pear. so you can guarantee by 2025 people will have those in their garages, the sub-$30,000 one? >> in 2025, so it will come out mid 2025, and we have already developed the vehicle, it's already sign off. of so right now we are working

with the first suppliers to get them onboard. so i think we actually have quite a good sign. it's actually, i think, a program is less under speed thanker for example, the ocean were -- than, for example, the ocean were and especially developing the ocean during covid was difficult, definitely difficult. i mean, it was for everyone and for us too. i think now coming out of covid we are seeing things lightening up, but we still have a little bit of a hangover in covid. we can see it. there are still suppliers which are not quite up to speed yet. liz: we are very interested in this story because that has been sort of the holy grail, a sub-$30,000. and as you say, with the tax incentives, the pear will be $222,400. we're watching it very closely, henrik -- 22,400. we want to test drive it, so when you're ready, bring it here to new york city. >> absolutely. liz: henrik fisker unveiling right here first on fox business the fisker pear. breaking update, president trump is now inside a federal

court in washington, d.c. for his arraignment. grady trimble is standing by live outside the courthouse. he's got some breaking details. we're going to get to him right after this very quick break. closing bell 14 minutes away. dow is still flagging about 47 points to the downside. ♪ ♪ let innovation refunds help with your erc tax refund so you can improve your business however you see fit. rosie used part of her refund to build an outdoor patio. clink! dr. marshall used part of his refund to give his practice a facelift. emily used part of her refund to buy... i run a wax museum. let innovation refunds help you get started on your erc tax refund. stop waiting. go to innovationrefunds.com you really got the brows. if you wake up thinking about the market and want to make the right moves fast... get decision tech from fidelity.

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♪. liz: breaking news, former president trump's arraignment is just minutes away. he is going to appear in federal court to answer charges he conspired and plotted to overturn his 2020 election loss. let's go live to grady trimble at the u.s. district court where trump is expected to be arraigned. grady at this very moment, what is going on, can you tell us? >> reporter: so liz the former president arrived here around 3:15 but we have a producer, jake gibson, who is inside of the courthouse and watching a video feed of the courtroom and he is reporting special counsel jack smith from the department of justice is already inside of the courtroom. former president trump has not entered the courtroom just yet. we're also learning from our colleagues at fox news digital that the former president will

enter a not guilty plea on the four counts that he is facing today, three conspiracy charges and one obstruction charge. as far as what this process is going to look like today, if you watched what happened at the at the arraignment hearing in miami in mid june, it will be something like that. it will be a quick process. the former president is not expected to have a mug shot taken but he will have fingerprints taken. next he will go into the courtroom, at that point he or his attorneys on his behalf will enter that plea for him which again our fox news digital colleagues are reporting as expected will be not guilty. there are no cameras allowed in the courtroom so you will not see pictures of the former president but there is a sketch artist who will provide those images just like we saw in miami. there are also no phones allowed in the courtroom, liz. so all of the information we're

getting we're depending on our colleague who is watching the video feed to pass along to us. as far as the judge that former president trump will face today, it is a magistrate judge. it is not the judge that will oversee the trial. that will be a separate person and that person is judge named taunya chott kin, rather. a 2014 obama appointee randomly assigned to handle the case, to oversee the trial. one piece we know about her she handed down harsh sentences on some people accused of storming the capital on january 6th. we don't know what impact will have on this trial which is a long ways away. all right president trump has taken to truth social and his attorneys spoke about possibly changing the venue. he is obviously appearing in d.c. today.

they don't think they will get a fair trial in d.c. they suggested moving the trial elsewhere. it could be a while until we get to that point. that is the latest from outside the courtroom. liz: can you describe, grady, atmosphere around it. there is always crowds there and beyond the media. >> reporter: i would say the media out numbers the people here at any given time but as the day has gone on and we got closer to the former president arriving now he is here, you see people like those holding up their signs, you see people protesting the former president but by know means is it a huge collection of people. the traffic that i can see right across the street going down pennsylvania avenue is flowing smoothly. it is subdued crowd i would put it that way, if you can even call it a crowd. liz: good description from the scene, thank you so much, grady trimble. closing bell. we're five minutes away. you have to see this move in

crude oil today, well above $81 a barrel, bearing down on $82 a barrel after saudi arabia extended its out put cuts through september. so right now $81.73 in the after-market per barrel of crude. no wonder energy is the best-performing sector of the day. we're just minutes from earnings from apple and amazon. refinitiv analysts expecting apple earnings to come in at $1.19. they expect $86.1 billion in revenue for the iphone maker fiscal third quarter. but this is expected to be the third consecutive revenue decline. amazon shares expected to come in 35 cents with 130.5 billion in revenue for the e-commerce giant in the second quarter. their business in the cloud is

much bigger. dan gentter, cio of genter management. they are so powerful because they have power to move entire sectors if not the entire markets. what are you looking for? >> we'll look for guidance. you look what is happening with apple, almost see some declines with individual iphones. we expect to be doesn't 1% year-over-year and basically the only way they can meet those numbers consistently the average unit price they have to sell higher-priced phones. that is a heavy lift for them since a lot of the revenue is out of the country, less developed countries. they have heavy lifting to do if they see the overall growth and our concern right now is really valuation. at a 30 pe it is going to be tough to keep that going. we think they will to show some

good guidance, you will have to see it on services. phone growth is probably towing to be a little bit anemic, guidance on services will be everything and amazon will have a similar type of lift where you're expecting to see as you referred to revenue growth go down again. there was disappointing in the first quarter as they were, disappointing they were only up 16%, versus being up over 30 in prior year-over-year. they will once again have to show guidance. they will have to show what's happening in aws. you know the retail is up right about 7.8 to 8%, that will be fine. it will be all be what will they have in cloud growth and what are they going to see going into the future. guidance will rule the day here. liz: we've been showing all variation of charts here but they all look the same for apple and amazon. they're either very close to their 52-week high or at them. when you look and see, for example, -- up about 47%

year-to-date. wouldn't be buying here. what are you buying, dan? >> well, look we think this market has been very sanguine when you look at the overall market. certainly anything that has an a.i. name in it has gone stratospheric. that is limited in scope. the rest of the market is looking what is happening in the economy and really reacting in a predictable fashion. you again move into some of these names that have been left behind. something in health care, for example, that has been beat up in the marketplace, been beat up in washington. abbvie, for example, trading at a 14 pe. it is under pressure because of humira which is coming off of patent. that revenue from humira is only down 35%. normal coming off of a patent would be down 70. it will be a one year occurrence. it will be made up by new drugs coming in. 14% pe and yield while you wait. we think the stock has 25% worth of up side. so that is attractive.

frankly if you want to get a very low risk play on a.i., something like corning. liz: i knew you were going to say that, right? >> it is under pressure because you know, you were looking at fiber that was up about 15% in 22. people thought it would be up again this year. you had some stalling of that growth just because what is happening with the telecoms which is also a probably a one year phenomenon but as a.i. starts to be built out, not hyped as what it would be but starts to being built out. liz: dan genter, thank you, my friend. [closing bell rings] markets closing mixed as former president trump just entered the courtroom for his arraignment on criminal charges of trying to overturn the 2020 election results. do you, s&p, nasdaq, russell, in the red. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. all right, former presiden