make it easier for americans to make it on their own. we want to get on our grind. that's the very ets to of american success and propelled the country to the top of the heat. i don't think one liners are going to work. save the bum fertilizer stickers for the eco chamber and town hall meetings and going after a larger audience. and you can tell stories about parents and grandparents and it's good to remind folks we've all obtained the american dream and they've done it before and that doesn't resinate like it used to and you've got people that never experience that had and some that have similar stories but don't think it can happen to them. corporate welfares and handouts and make a distinction and be persuasive and more importantly protect the american dream. over to liz claman. liz: it'll survive no matter what. no matter what.

charles, thank you. to markets in mill wack key and got our -- milwaukee and got our eyes on both. we're under six hours away from the very first republican debate of the election season. fox news has taken over pfizer forum and allover look inside the forum where the milwaukee bucks usually play and tonight eight gop candidates, we think, will face off on topics ranging from the economy to national and global policy. we think eight because the breaking news ahead of it is governor doug burgum's participation is up in the air at this hour after the republican presidential candidate suffered a high grade achilles tear playing pick up basketball with his team last night. we say team meaning his campaign team. due to the leg injury, it's unclear whether or not he will be able to stand at the debate, but something tells me all eight candidates will be on the stage

no matter what. for those of you who love us so much that you've locked for tvs on fox business and thrown away, yes, the remote control. there's some of you. i'm talking to you, peter cohen. the debate simulcast right here on fox business as well. all right, to the markets, the bulls are running at a pretty goodship clip here with about 59 minutes left to grade, the s&p 500 up 45 points. that's good for more than a percent and nasdaq enjoying its third up day in a row gaining 217 points. as for the dow, it's actually on pace to snap its two-day losing streak and blue chips gaining 138 points and they would be much higher if it weren't for nike. that stock is on track to extend its losing streak to 10 straight declines. that would be a fresh lifetime extension of those declines. that would be a record for the sportswear giant and as you can see right now, the stock is down about 2.7% or another $2.71. just since this slide began,

nike lost 11.8% or so. it's been very, very tough for that company. some of it is attributed to china's shaky economy and a discretionary pull back in spending and that's crushing foot locker at this hour. look at the shoe retailer right now down 30%. that's not even a low of the session. after it cut full year sales and profit forecast due to customers curbing purchases. inflation weary customers, this suddenly major practice by retailers to report shrink or theft numbers, it is real but are some retailers using it kind of as a crutch to mask sales. gerri willis will take a deep dive into shrinks and the stocks bucking the trend. she's coming up. the trend piling into nvidia is resume and shares adding another two and a third percent and stands at $467 and change and the stakes ahead of chip maker's

fiscal q2 2024 earnings after the bell is possibly the highest they've ever been. its progress with the high margin artificial intense semiconductors could set the tone for the entire tech industry, not just the chip makers and wall street looking for $11.22 billion in revenue and profits of $2.09. that would be -- unbelievable, an increase of 305% from the 51-cents nvidia reported a yearing a. a beat could juice the markets well beyond the chips sector and any miss could send the markets fairly or unfairly down kind of a vortex. bring in the floor show and come are asking isn't it totally ridiculous for the broader market to hinge everything on nvidia results? joining me to talk about that and more jason katz and john lonski of the lonski group. jason, how crucial are nvidia to tech and maybe beyond tech?

>> on one hand it's completely and utterly ridiculous that the fate of the market hinges on this number but reflecting upon it, think about the shot of the arm this market got in the second quarter as a result of nvidia. the s&p and nasdaq are driven by those seven names, and if that company, if we get the numbers, it's the guidance. if there's a miss, you'll get the downturn. i'm not necessarily concerned that's going to direct the market in the intermediate term. liz: not to mention the supply and ability to meet supply, john, and that's been a bigger economic question, but what is one company say about the tech economy and beyond in >> well, it says that we're very much focused on the outlook for earnings and perhaps the biggest threat is earnings growth going forward, which would have to be interest rates in nasdaq and nvidia has been sensitive to movement by interest rates. today, nasdaq and other tech companies as well as the overall

market got a lift from an unexpected drop by treasury bond yields. suggesting that perhaps we're not going to have yields rise in the 10-year yield going up to maybe 4.5% and in doing so risk a sharp painful slow down by domestic spending. liz: it's pretty unbelievable and look at 10-year yield: 4.193%. yesterday at 4.33% so you're looking at a pretty big drop there. the 2-year yield yesterday was at 5.03% and it is well beneath 5% right now. what does that say? >> it's telling me that the credit market is looking for a slow down by domestic spending that doesn't require another rate hike by the fed. the odds of another fed rate hike come september 20th or november 1. they drop -- i don't know if the credit market will be right on this score. i still have my doubts. i think we're going to have a couple more strong months for

consumer spending that would be the month of august and perhaps september after a fantastic july. liz: jason, the equity risk premium compared to treasuries minus today and the gyrations we saw between yesterday and today, how do you look at stocks right now? >> in my world, we're competing against bonds now and there's real money flowing out of equities into fixed income and for good reason. we're in this weird negative feedback loop when we have stronger economic numbers, which we've had as of late. liz: pretty much. >> then we have the fed maybe going higher and staying longer and that is what could tip us into a recession. so a lot of this -- forget about nvidia, a lot of what happens in the market is contingent on interest rate and what the fed says and does. liz: right, and giannos. i don't think -- john knows and i don't think much comes out of jackson hole, or does it? it begins tomorrow and jay powell, the head of the u.s.

federal bank will speak. what do you think? >> at minimum, chairman powell will jawbone the market into believing l fed is not finished and the fed is not going to tolerate any type of resurgence of domestic spending threatening to drive inflation higher. i don't look for any big surprise. liz: jason, i'm looking for a soft landing stock or a hard landing stock. i mean, there've got to be some out there that are predicated upon what happens with the fed and with the economy that you feel have room to run. >> want to look at areas of the market that have lagged. look at energy, industrials, financials. i know financials isn't at a consensus trade but at peak regulatory scrutiny and have the soft landing, lower loss provisions and capital markets improve and more ipos and things of that nature or energy for that matter. soft landing means more energy fueling an economy. multiples there, dividend yields

there, all very reasonable. liz: normally, john, all we'd be talking about is the federal reserve. how it affects all kinds of sectors and yet this nvidia piece is quite unbelievable. right now, folks, we're about 52 minutes away from after the bell nvidia earning ands thinking about what a single company says, i mean, jason was right. in the wake of its previous quarter earnings, the markets overall took off. if nvidia misses or just meets expectation, what signal does that send? rightly or wrongly? >> well, i would say that if it misses expectations, comes in on the low side, that would tell investors to take a more cautious approach to the market and don't lose sight of what's going on with those treasury bond yields. u.s. treasury is borrowing $1 trillion in this third quarter, and as we look forward there's no end to these huge budget deficits and the outlook

for bonds right now is not good and as a result if looking at higher borrowing costs and otherwise we're looking at slower economic growth, slower corporate revenue growth that otherwise. liz: what about that, jason, do you go out longer on the duration page for treasuries? usually you're an equity guy but you've got to look at treasuries took into consideration at least a certain aspect? >> in my three decades of managing money for people, bonds have not been a game in town and now they finally provide ball last in a portfolio. liz: which part? the party of 5%? one month, three month, 12 month, they're all yielding. >> for your eminent needs, heck, yeah. reinvestment risk there. 12, 24 months from now and perhaps the rates are lower and extend duration. we're looking@least 10 will have 15 years on the yield curve. liz: really? okay.

>> latterring bonds if -- ladders bonds if the yields go higher and re-purposes interest at a higher rate. liz: there's less risk when you're talking about treasuries and yet you look at the price of earnings ratio of nvidia. 233. when you are buying stocks for your clients, jason, you don't buy a pe of 233, do you? >> within a small percentage of their money and think about a return on after tax basis and municipal bonds and treasuries and half of two-thirds with historic stock market return and how can you ignore fixed income in this environment? liz: john, doesn't bode well as we continue to watch the markets, which are doing pretty well today and overall year-to-date looking pretty good. what's the one thing that could derail them for a longer term? >> one thing that could derail them is all of a sudden we have an upturn by price inflation and it starts beating expectations fairly soon and the month of

august, after only a two tenths of a percent gain in july and could be a four tenths of a percent because of higher energy prices. i'd be keeping a close eye on that. let's not forget, right now there's a full employment economy, 3.5% unemployment rate and it's really difficult to have spending speed up at full employment without having to pay the price of much that'ser wage growth and higher price inflation. liz: all right, we span the globe when it comes to the economy versus equities and bonds. thank you both so much. jason, john, good to see you. investors hold on tight for the earn in just about 50 minutes, they're not the on one buckling up for a wild ride, so are the drivers of three-wheeled polaris slingshot and atv maker first road legal vehicle. and i'm somebody who's included in that. i hit the road for a joyride in the souped up vehicle and it did not disappoint. the ceo of polaris joins me next

on the growing market of the mini road racers. closing bell ringing in 48 minutes and dow jones powered ahead by 466 points and nasdaq is the big leader up 1.7% or 237 points. we're coming back with polaris. ♪ salonpas lidocaine flex. a super thin, flexible patch with maximum otc strength lidocaine that contours to the body

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liz: we're just getting this breaking news in momentsing a and you see on your screen. north dakota governor and gop candidate doug burgum spoke in the pfizer spin room in milwaukee and he's stalking to a lot of media. he was on crutches and then gave an update on his participation in the first debate, which of

course is tonight on fox news and will stream on box business. he said he will find out after he goes to the doctor, but he said if you're going to lead this country, you ought to be able to stand on one leg for two hours. i'm betting burgum is in there. this comes after sustaining a torn achilles tendon last night playing pickup basketball. don't try to be larry bird. don't. we'll try to update you on doug burgum and sounds like he'll be the eighth gop candidate or one of them to be in the debate tonight. investors are gassing up deer and company and -- deere and company to build a factory in north carolina and boosting electrify indication eff effortd john deere plant is going for a fleet of electric tractors and

vehicles. also electrifying off road is atv and vehicle maker particular is and began with all -- polaris and one of the first off roadsters to scrap the gas tank and go electric. the best selling utility vehicle with ranger fd240 and extreme duty utv developed with farmers, ranchers and hunters. joining me in a fox business exclusive is polaris ceo mike speetzen. mike, we were going to start with the demand you see for electric ranger but sold out in two hour when is you launched it. who's your premier buyer, if you could start with that. >> first of all, liz, thanks for having me on board. yeah, we sold out in a very short period of time. we had done an extensive amount of research and what we found was we not only sold to existing customers, people who own farms, horse farms, multiple acres of

land looking for a quiet vehicle, but brought in a significant amount of new customers and people that wouldn't have bought because the vehicle is loud. the capability of the machine is the best ranger we've ever built, and we think that'll appeal to a wide swath of customers. we're excited. we delivered the majority of vehicles we prosold last year, and we're going to be opening the order window up here shortly and anticipate we'll be fully vehicles as well. liz: fully booked. and you're manufacturing these as fast as you possibly (&.k i know you've been in that position before during the lockdown, everybody wanted one of these because we all were stuck hanging out and people wanted to go outside. these particular ones that are for hauling and rocks in the back and moving stuff around. this is quite a market for you. i was looking at your sales, they've marketed increased from 2029 to where we are today s. that the biggest driver?

>> yeah, i mean, it's really kind of come across the board. a lot of folks don't know we're a very large producer of boats. between that and our motorcycle business with indian and slingshot and off road vehicles, we've seen growth across all categories. the electrify indication of our vehicles still relatively small in the grand scheme of things. the majority of our growth though recently has been driven by both the rec space and utility vehicles and think about things like the ranger, ranger north star and both the two seat and six seat version. what we see is people spending more time on multiple acres of land and wanting to do more of that work themselves and our vehicles really suit that case incredibly well. liz: fiscal year ending june 30th and $9.4 billion in revenue and up 24% year over year. i have to ask you, if that's the bigger part of your business, what's the future of this slingshot, which you have unveiled a brand new version of it. it's automatic, it's the first road legal vehicle that you

have. it feels to me like quite a niche product, and i got a great opportunity to jump into one of these things, and i can tell you it was an absolute riot. so much fun. i drove it around edge water, new jersey, and you can just go out on the road with it, but who's buying these things? >> yeah, you know, we came up with the product in 2015. since theave then we've sold about 50,000 of them. so it's relatively a small portion of our business but growing rapidly and people riding motorcycles, getting to an age where they were uncomfortable and wanted to be in something more stable. we found it had a much broader appeal. people who wanted to be seen. people wanted to be part of a major social engagement and people wanted to get out and enjoy the excitement of the road and appealing to a broad category of customers and 85% of the customers for slingshot are new to polaris. it's the most diverse category and more women riders than any other part of the business as

well as ethnic diversity and opened our eyes to bring new customers into the business and it's a fun unique way to do it. liz: there i am driving it. as automatic but i'm one of the few in the world that can drive a stick shift still. i was looking at top state withs dealers: texas, florida, these things are hugely popular in those states. ohio, pennsylvania, california, north carolina, also new york, illinois, wisconsin. but how do you look at this sort of mini bat mobile as more than just a niche opportunity for people to say, look at me. look what i have? >> you mentioned t one of the first things was when the vehicle was introduced, it was a 5 speed manual transmission and a portion of the population and you're one of the exclusive group knowing how to drive a manual transmission and introducing that automate ick transmission is key. about 70 to 75% of the sales now and we introduced a concept called polaris adventures and about 200 outfitters that rent

everything and we've seen slingshot is an incredibly popular vehicle for that. if you think about people vacationing in florida, arizona, california, it provides a really unique experience for them to take a day out of their vacation and explore and get a scenic and close to environment ride. so we think there's a lot of legs on it, and we're really excited. liz: the stock has been quite a ride if you go back to the low of april of 2020, when it was about $39, today it's more than $111. again, it's a viable opportunity as we continue to watch it. quite a ride. thank you, mike. good to see you. >> good seeing you, liz. thank you very much. liz: mike speetzen of employee larra is. so much -- polaris. so much fun. shoplifters are stealing the show this earning season. re-tarials from wal-mart and target to foot locker and dick's sporting goods says theft is reeking havoc on the earnings and we're giving you a report on

the widespread retail shrink and why investors are back pedaling on peloton and shares down 23%. closing bell 36 minutes away. take a look at markets, no shrink there. he can be is expanding, particularly the nasdaq up 233 points. ahead of that nvidia earnings report after the bell. ♪ ♪ ♪ 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? ♪ ♪

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liz: the high of the session for nasdaq is higher than what you see with a 236 point gain and high of the session was 251 point-blank layupses. a lot of anticipation ahead of nvidia. shares of advanced auto parts advancing right now even after the company missed on second quarter earnings and cut full year profit outlook and shares up about 3%. investors maybe optimistic about the strategic review and shakeup and retailer struggled to keep up with inflation and cytocritted head winds for competitive price targets and stock saw larger ever single day drop back in may. look at this. it's not pretty when the retailer slashed dividend to aap still down 52% year-to-date. and advanced auto parts report comes on the eve of its replacement on the s&p 500 by johnson & johnson spinoff kenview and shares up three quarters of a percent and shares

go up prior to trading on friday. netflix password crackdown a categorical success. according to new data from antenna, netflix crackdown kept signups at elevated levels and netflix saw 2 a 2.6 million sigs in july and higher than normal and back in may, the streaming company began charging $8 more a month to add additional users, re kids stealing your password to existing accounts. shares of netflix are higher by nearly 4% and up 46% this year. peloton, another story. decelerating at 23.6% and company reported a wider than expected fourth quarter earnings loss and a fall in new subscribers. which had attributed to the recall of the bike seat post. so here's what the company says happened. it estimates that between 15 and 20,000 use herbs opted to put their monthly subscriptions on pause while they waited for that

bike seat replacement. peloton also cited the slow summer season as consumers tend to pull back on workouts due to travel. peloton's just a $5.32 stock right now. macys down again for a second session in a row after the retailer reported second quarter credit card sales plummeted 36% from the prior year. in the earnings release yesterday, the company cited high credit card balances coupled with high interest rates and left some consumes unable to pay off their bills and macys opted to write off those balances. now, macys stock is down 16% this week alone. and, yeah, it's another 52-week low to $12.34. that was the low today and just barely above that at 1257. the rise of retail crime, which a lot of these names have been referencing has become a major head wind for some of the biggest retailers as in-store left is leading to smaller profits and slimmer margins.

if you look at this, i mean, it's a horrific video of nordstrom in los angeles just a week and a halving a being totally ransacked by thieves, and it's not just the retailers taking the hit. let's get to gerri willis with more on how retailers and consumers and shareholders are being affected, gerri. >> liz, that's absolutely right. one theme all over the second quarter earnings is retail shrink costing american retailers big time. loss of items to retail theft is plaguing the biggest retailers: home depot, wal-mart, target, all mentioning significant losses in their report and the retailer is up against an unacceptable amount of retail theft and organized crime retail. and they're seeing it in their bottom line, dick's sporting goods second quarter profits fell 23%, nearly a quarter largely in part due to inventory shrink. that according to the ceo lauren

hobart and foot locker reporting a quarter of falling sales due to higher shrink. kohls ceo saying today his company is doing everything they can to prevent left including cabling products to fixtures, more attendance in fitting rooms, and personnel at the front of the store. now, there's concern that companies could raise prices further to make up for lost product and revenue. retail shrink is nearly a $100 billion problem, that's according to the national retailers federation. that cost more than double since 2015, and it is hurting big business and small business, listen. >> we do hear small businesses in certain locations struggling with crime and obviously, you know, what makes this country great is the rule of law, and that's important and it's important for business for the rule of law to be enforced. >> now, of course some folks are saying, hmm, sounds like a lot of dollars. are the retailers embellishing

their shrink problem using it as a crutch in order to excuse some of their revenue decline. liz. liz: we'll start seeing the truth and be able to tease that out because shareholders are demanding to know how real is this. of course the video we show is really stunning and grabs people's attention, but maybe it's kind of massing some other -- masking some other issues. we'll be watching. >> you know, we've seen some companies do that with weather; right? we had bad weather and our sales weren't that good. you wonder if that's really true. liz: excellent point, gerri. thank you. >> you're welcome. liz: artificial intelligence facing a very public test on wall street after nvidia ratters after the bell. ai on the forefront of so much and seems to be passing the pets test. animal healthcare joint employing ai to better diagnose conditions in companion animals. in a fox business exclusive ceo

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year due to the excitement or some would say hype surrounding ai and nvidia's leadership in the ai semiconductor space. ai is very much the buzz word for investors because it's the hot tech process that both tech and non-tech companies are rushing to incorporate, including incorporating into the tools your vet uses to take care of your pets. zoetis, the largest animal health company in the world is already harnessing ai in its diagnostic technology. how is that working and what is it going to do for zoetis' bottom line in ask the ceo kristin peck in a fox business exclusive. you've got several diagnostic tools you've already rolled out. can you walk us through them and how they work for people's pets in the hospital? >> sure, first, it's great to be here with you, liz. thanks for having me. what most don't under, zoetis touches you whether you walked your dog or drank some milk. when people think about pets or protein, they don't realize how

much technology really is behind that. at zoetis, we've been incorporating ai technologies not just to make better decisions, not just to make colleague's lives easier or customers but really to increase and improve the standard of care. you're talking about vet scan images and ai-based platform that pretty much most things you can put on a slide, whether it's fecal or blood smear or digital cytology, just take a picture in the vet clinic while your pet is in the waiting room and they can let you know if your dog has worms, a dermatology issues some disease. they can tell you in the visit. they scan that slide and it in ten minutes they get animals and can even get an expert on the line. this is improving the standard of care and not having to come back for a second visit. liz: send a picture of dog or cat walking to assess if it has some type of problem with the gait? >> we have a product called cat

pain iq. if you have a cat, it's hard to get your cat in a carrier and to the vet. liz: i've had to cancel vet appointments because i couldn't get the cat into the carrier. >> it's a huge issue, so we want to make sure they can sense whether or not it's worth taking their cat in for it. cats really hide their pain incredibly well. so basically again, leveraging ai, you can take a video of your cat and up load it to our site, and we can let you know if your cat is a high likelihood of osteoarthritis and get it straight to your vet so when you arrive at your vet appointment, they've already watched the video and seen the ai analysis and they can provide treatments such as we have a monoclonal antibody or prove in the united states for osteoarthritis pain in cats but the challenge is getting the cat to the clinic to get them diagnosed. liz: what does it do for the bottom line of zoetis? we have a shareholder audience that wants to know what you're doing for me lately? >> at zoetis, what's driven our growth and success has been

innovation across so many different technologies. we're the leader in animal health in monoclonal antibodies and most think about extremely expensive products that humans use, but we have three of them approved in the united states for pets for osteoarthritis pain in dogs, cats -- liz: labrella was approved in europe. when talking about osteoarthritis, this is dogs that have chronic joint disease, stiffness, they limp, difficulty getting up. that sounds like me, but could it be a blockbuster drug because it's finally been approved here and you're rolling it out commercially in november but some will get in september. what kind of blockbuster could this be for zoetis in >> we've given guidance we think our osteoaosteoarthritis art facts franchise will be a billion dollars and the innovation we bring in pets and livestock is

its self-pay and not dependent on reimbursement and very different market in animal health than human health w. you can change the quality of life ovan animal and as you know not just the animal but the family, that dog is back and going for walks and hikes with you, you're willing to pay and it's affordable so we're really excited to get librela into the hands of pet families in the united states. liz: millennials, i know many who look at their pets as their children. in fact, they're choosing pets over having children of -- talk about what that means for the vveterinary hospitals that purchase your products and there's a staffing crunch in veterinary hospitals. >> there is, and what's driving that is exactly to your point. over 50% of pet owners today are millennials and gen z and see pets differently and they're members of the family. they have outfits and strollers and some have psychologists. they're important members of these families. you know, they're willing to

spend, they do more research. they really treat their animals the way they would treat their children, and it's important we meet the pet owner where is they are and they're getting a lot of care for their animals and the crunch in the veterinary space, it's a really important trend. the fact the millennials care so much for the animals is a key driver for zoetis, our growth and pet care globally. liz: $84 billion market cap and your stock is up 24% year-to-date. we'll continue to follow it. my dog and cat will not be getting psychologists. >> but hopefully librela and others. liz: my dog needs it, i'm pretty sure. thank you so. kristin. >> thank you, liz. liz: just over five hours till the 2024 gop candidates face off on the debate stage for the first time. again that's a live picture right there for you. up next, grady trimble is in milwaukee on the ground. he's got the latest on final preparations, and i bet he's going to update us on governor

burgum, who tore his achilles tendon last night and he's supposed to be on that stage. we'll get that update right to the second. dow up nearly 200 points and gain of 194 right now. ♪ - [speaker] at first, just leaving the house was hard. - [speaker] but wounded warrior project helps you realize it's possible to get out there - [speaker] to feel sense of camaraderie again. - [speaker] to find the tools to live life better.

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♪. liz: all right, we're getting closer to crunch time. just hours away from the eight qualifying gop presidential candidates taking the debate stage for the first official contest of the 2024 election season. let's get to grady trimble. he is right there in milwaukee to break it all down for us. can we start with presidential candidate doug burgum i guess tore his achilles last night. what more have we learned? is i going to be on the stage. >> reporter: we still don't know, liz, in fact he doesn't know. we heard from him in the last hour he was leaving that interview to go see a doctor to make that determination whether he can take the debate stage tonight. feasibly he could be in the doctor's office right now getting word we will provide to you if we get it while we're on the air. listen what he is has to say about the pain he experienced

for that tendon tear playing basketball. >> so many americans make so sacrifices, think of law enforcement. think of military, what they do for all of us. i mean, if you're going to lead this country you ought to stand on one leg for go hours. it is not "dancing with the stars," come on, i would have to scratch if it was that. so pain is not a factor at this point. >> reporter: he sounds determined to be on the debate stage. we will see. assuming he does make the debate this is what the stage will look like. florida governor ron desantis, vivek ramaswamy will stand center stage. their position on that stage is based on their position in the polls right now. because of that desantis and ramaswamy could spend some of the night, a lot of the night fending off attacks from the other six candidates. we've been talking to voters for the past several days including some business owners and one of the issues that keeps coming up

is the economy. >> the job market is not great right now for young professionals and what are they going to do about that, and how are they going to support their people when the economy is the way it is right now. >> spending more on everything now because the inflation is real high now. we need somebody in office that can break the inflation down. >> reporter: the chair of the democratic national committee is also in milwaukee, wisconsin right now. he has said that the economy is not a vulnerability for president biden and the democrats but from what we've heard from voters, liz, they will be eager to hear what the republican candidate have to say broadly about the economy but specifically about their plans to bring down prices. liz? liz: that's what they want. and it is understandable. it is kitchen table economics. grady, thank you. be sure to tune in tonight, all of you. everybody out there, we're both on fox news and fox business.

the first gop presidential primary debate hosted by martha maccallum and bret baier kicks off at 9:00 p.m. eastern. the debate will be same mull calls right here on fox business. no need to change the channel. better not. closing bell, we're now five, call it four 1/2 minutes away. bulls out in full force. with just a few minutes left to trade, dow, s&p, nasdaq all seeing broad gains fueled by big tech. investors keeping a close eye on nvidia earnings coming out after the bell. look at the stock, gaining about 2.9%, just off session highs. it stands at $469 and change but one of the main topics tonight, hey it might be regulating a.i. but most likely one of the them will be energy in america's drilling policies. crude oil right now, $78.50 a barrel in after-market, down 1 1/3%, as new data show u.s.

field production of oil rose to 12-pointmillion last week, that is highest since 2020. opec revival and price cuts, our "countdown" closer says one company in particular has room to grow. jordan pence, cio, pence wealth management, two billion dollars under management. why exxon over chef? chevron is one name people are picking out but you say exxon. >> thanks for letting me be on the show. exxon, they are a larger producer of oil than iran. i think that is very important. they would be the 7th largest producer in the world. they have a tremendous amount of production and higher oil prices. we think we have a deficit coming in the last half of the year. that is really going to fuel more of exxon's progress in its earnings.

liz: exxon pulling back a little bit by 1%. it has had an interesting year, up 10% year-to-date. i do want to push you on where you think demand goes if we go into, even just a shallow recession, dryden? >> well i think, the issue is that demand still stays fairly high. you see supply constraint around the world even though you see china coming back down but when you really kind of look what's going on inside of the u.s. economy we're still pretty resilient. we're still doing pretty strong. we continue to lead the world. the demand push against a supply reduction that we have coming into the market, i.e., estimate about two million barrels a day in the second half of the year is going to be supportive of higher prices. we think you see wti moving up into the 80 to 90% range as opposed to below 80 range. liz: ask you about disney, which

is well off its highs. we like it when people come on, don't buy something when there is so much momentum behind it. last night, disney, netflix, made the latest offer to the writers guild to try to end this strike. disney is down 25% over the last year. do you think the strike will further dampen the stock's ability to continue to roar higher? >> well disney's currently at the same price it was back in, really the depths of covid. they're back to a 2020 price and yet you have circumstances in parks where people are still wanting to go. 8-year-old doesn't really care what's going on with inflation. they still want to go. the subscriptions of hot star where you saw big decline in streaming was really all about disney getting rid of a lot of subscriptions they weren't making any money on. liz: right. >> as they lean this out and as they move forward they will get through the writers strike but disney has a huge, huge library.

they have a huge calendar of product and lots 6 stuff in the can. if this goes own a long time, disney is able to come out with tremendous inventory to bring it through the basic demand consumers have to see what they have. liz: dryden, we have about 15 seconds left. your thoughts on nvidia at this price, 230, it reports after the bell? >> i think it has way too much momentum behind it. you have to be very careful at these prices. >> dryden, always good to have you. so nice to have you back on the show. dryden pence. no hump day for the markets. dow, nasdaq, s&p ending in the green with the dow up 170 points. [closing bell rings] nasdaq is up for the third day in a row. that will do it for "the claman countdown." larry kudlow is up next. that is a can't-miss show ahead of the big gop debate. ♪. larrlo