it has become an adventure but not the fund kind. while it's not the level of the exploration of antarctic. it's becoming a heckuva burden no one is around when you need them and if someone is around it feels like they started yesterday, then of course it's checking i'm so confused i went to the supermarket and i was assigned a supervisor in the security guard at the self checkout but it was only option i felt like i was taking the sats all over again, she didn't guide me but she was looking at me hard in case i made a mistake there was weird glitches she pulled out the super barcode and had me keep going, once i had the pleasure of bringing everything up i also had to bag it for myself, i used to bag bags as a kid i wish that would come back i love getting the money but whatever happened to the consumer being king and queen, maybe liz claman knows. >> i avoid the self checkout,

inevitably, sorry, i don't know. >> is embarrassing. >> we went to college, it is hard, thank you. we get into some major shopping we begin with breaking news after a fire hose of headlines political chaos and questions blasted out of washington, d.c. sunday and as joe biden announced he was pulling out of the presidential race the market right now staying clean and dry from the fire hose, right now the dow jones industrial up 110 points the s&p and nasdaq are showing sizzle after they suffer the worst week since april we have the s&p gaining 56 in the nasdaq going nuts the high of the session is a gain of 313 up to 75 and it shattered more than a thousand points last week, we have tech stocks moving a lot higher everything from the chip stocks to chip equipment and the

russell 2000 looking pretty strong up 26 points or one and a quarter percent, no fear on wall street at this hour even with the drama we have the vic's down 10% and this is a flood of democratic governors and congressional members rushed to back vice president kamala harris as the party's candidate, breaking within the last couple of hours former speaker of the house nancy pelosi drawing her weight behind the vice president, endorsing her on next and saying i have full confidence that she will lead us to victory in november, joining me now live from washington, d.c. bret baier special report, nancy pelosi joining governor gretchen whitmer a couple hours ago a flurry of democrats jumping on the harris train but a few powerful voices, maybe you know something different but senate majority leader chuck schumer house minority leader hakeem jeffries have we heard from them yet? >> they said that there meeting with vice president harris

sometime today but they've not endorsed, neither has former president barack obama and there are other key democrats who have not done that, some are calling for a process here to evolve and be bedded out at the convention, acknowledging that vice president harris has the mojo if you will, both in money, donations and in support so far. but they're trying to avoid a coordination of sorts, she will if she becomes the nominee be the first nominee ever to be the nominee without a single democratic voter weighing in on that. liz: that has to be the hottest beltway discussion. what else do you hear from your sources about all this happen in the last 24 hours are they over the shock now they're going into the workman mode. >> i think so i think the democratic party is starting to

coalesce around vice president harris, however, we have not seen president biden only the paper statement to paper statement the one originally dropping out and then endorsing we have not seen him, not a picture not a video, there is a hunger to hear from the president, this is a big deal if he shopping out of the nomination republicans, several of them and michael moore on the progressive side say he should resign the presidency. i think that's probably not going to happen but we still haven't heard from the president. i think it's interesting the debate about lifting president biden saying this is a selfless choice, patriotic choice, it did not happen for a long time, late july is tough in a happen as a result of nancy pelosi efforts to pull fingernails and tell they got to the point were they convinced him to step down. had he done earlier, there would've been a process and one

wonders if vice president harris would be on the top. liz: 1968 democratic national convention with lbj but lyndon b. johnson stepped out in march saying he wasn't going to run as a second term president. i need to give you the headline that is crossing from reuters saying this is exclusive from reuters the harris campaign aims to have enough delegates to secure the nomination by end of day wednesday. that really sounds to me like there's not going to be a sprint type of primary where a lot of others throw their hat into the ring, what happened to the great governors the everybody thought would be opportunistic at this moment. >> more power to the harris political team through trying to use the job or not off to the races to squelch any possible opponent. it is working so far. if they get that by wednesday that will be significant obviously it doesn't happen until monday of the first day of

the chicago convention which is august 19. but that would be a big deal and it would coalesce with the democrats. liz: let me ask about the trump camp, donald trump coming off of the dnc with jd vance as his running mate, they got a lot of groundswell of support, they came out swinging and saying that they've never seen the republican party were unified, then you see the article's essay did the republicans peaked too early regardless, and they have to pivot although i'm pretty sure they were prepared to do something like that, we do have donald trump telling cnn kaitlan collins that kamala harris would be easier to beat then it would be joe biden. is that whistling past the graveyard, do you think the trump administration is a little bit nervous here? >> i'm not sure nervous, definitely they would preferred president biden in private conversations, just because he was weak and they were

projecting strength. i think you're confident they can make the policy pitch against kamala harris against open borders and crime and the price of groceries and gasoline. that is still the biden harris i do think there is some back and forth and back to bates and how that's going to work. they were waiting until they got an actual nominee and it sounds like you get one sooner than later. liz: although we don't know the whole ticket we might only know half of it for the next couple of days, bret baier a busy 24 hours i know your offer the special report, thank you for joining us. >> you bet. >> as we watch the markets which are holding very strong were watching the calendar 27 days until the august 19 kickoff of the democratic national convention what was shaping up to be another coordination for the incumbent president is

littered with questions as to who will be on the entire democratic ticket with endorsements as you heard piling fasting fiercely for kamala harris it's curtains for the so-called blitz primary, joining us in the first interview since joe biden dropped out of the race is georgetown law professor and former obama administration official rosa brooks the godmother of the blitz primary process that would've kicked in, it still might but as we look at breaking news we see kamala harris at joint base andrews and she's departing to go to wilmington, delaware to meet with the biden campaign representative. again this is a live picture of possibly candidate harris, she was a vice presidential candidate, she is boarding the airplane and she will be heading to a get to know you get out there quickly, go ahead. >> she's heading to delaware, who knows if she'll make a stop and see joe biden, not sure.

just as brett said props to the harris campaign for grabbing the baton and kind of starting to run with it, what does that mean for what happened chatted about the blitz primary, we have the professor who helped it, rosa brooks, you unveiled this proposal july 7 in the wake of joe biden's alarming performance at the debate. it was contingent on biden bowing out by mid july, you nailed the first part, what was your reaction yesterday call soap, the blitz primary was stillborn because the way it ended up working, biden delayed for so long, quite clearly the set kamala harris up to have the torch handed to her. the idea is dead in the water and i think, that harris would be in a much stronger position going into the general election if she emerged from a competitive field she would've

emerged anyway, too bad, too late, it's too bad it's disappointing where we are. >> what would've entailed you got that part right a bunch of other candidates would throw their hat into the ring and from there they would make their case candidates would state their case all the way through and up until the dnc without being critical of each other, good luck with that ended delegates would vote for the final nominee at the dnc this is just breaking i don't know if you heard me tell bret baier kamala harris campaign says the aims to have enough delegates, i believe 4000 to secure the nomination by end of day wednesday, why is this a missed opportunity. >> i think is a missed opportunity because some of the issues we were discussing with brett, kamala harris, people think they know who she is, i think they are wrong many of them but they think that they know who she is and they think she's about the order in screwing things up at the border

and they think they associated her with various things they don't like and it would've been a chance to reintroduce herself to contrast herself with other smart energetic younger folks of the democratic party in contrast with joe biden. it would've been a chance to do that in a way that would've let millions of americans to tune in and they lost a good deal. it's not impossible to climb out but it makes it a little bit harder. >> i'll tell you why i agree with you it's a fumbled opportunity because for the last year end a half, undecided and center-right voters who didn't like donald trump for whatever reason have been over and over saying i cannot vote for biden because kamala harris comes with him, she fumbled the border, it's been a disaster. if she is so old and something happens to him you're voting for kamala harris, suddenly the minute she is appearing to be that front runner on the ticket

on the top of the ticket speech, democratic voters and others against this are saying i'm throwing my support behind her, you don't see anybody's hat in the ring always see our bouquets of roses on the ground at her feet. >> i think the message on high was is going to be a career killer to come against her and that scared off the potential contenders and we've seen all the people who could've been rivals one by one getting in line. i think the challenge for kamala harris going forward is the same thing is going to be tougher for her now which is to differentiate for the biden campaign. i think she has gotten a bad rap, absolutely. and i kick my hat off to joe biden for doing the right thing, finally a little bit late but the biden folks kept her marginalized and in some ways set up to fail by the biden administration.

i don't know that we actually know what kamala harris unleashed would do for better or worse she has a chance to make the case and say i did not have a choice about how to handle the various things, now i do and here's what i'm going to do. i'm sort of optimistic, i'm not starry eyed optimistic but i think she's been underrated innovations deliberately marginalized, presidents don't tend to like to be upstaged by their vice president so they try to keep them in a little corner and give them something that they can't screw up or they don't care about i think they change their mind about the border on that one. she still has an opportunity i wish he had a different kind of opportunity but she can still make her case and i think she will. even though i'm quite unhappy that there's no blitz primary and the delegates are completely wrapped up so there won't be meaningful competition it speaks well of the political skills that she managed to do that so quickly and i think that was a

surprise to people including some extent me that she would have such a machine it would move so fast in some ways that makes me feel like she's going to come out swinging and i hope show was a different kamala harris that we've seen so far. liz: maybe as she was marginalizing she was a tightly quote spring and she's out running we will be watching. thank you very much rosa brooks, godmother of the short-lived. the primary. liz: thank you. what about the markets, we are at session highs were close to them in the major indices, the trump train was on last week after the attempted assassination of the former president and the very successful republican national convention, could it be off now that joe biden has exited the run for the white house the floor show traders are up next to tell us how wall street views the shakeup in presidential

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liz: fox market alert, your looking on your screen and seeing green across-the-board, markets are ticking higher in the final hour of trade after president joe biden bowed out of the 2024v's, 25 hours ago it is been an unbelievable day of news headlines, given the rapidly changing circumstances around the 2024 election is the trump trade still in play, whether it

is a trump or harris presidency or somebody else policy certainly has the power to move stocks and sectors, let's get right to the floor show, steeples chief washington policy strategist brian gardner and j.p. morgan global strategist david leibovitz. i'm going to start with you off the bat your funds been ringing off the hook quarter people asking you what are you telling them, can anybody else get in, is this over what does it mean going forward. it is over, kamala harris is pretty much wrapped up the nomination for all intensive purposes and what it means going forward i think we're going to get a continuity candidacy from kamala harris, taking the baton from joe biden going forward i don't think this could be a ton of changes in policy and proposals coming out of her campaign as opposed to his campaign. >> will get to those in just a second. david when you look at the landscape ahead of you, it's not very entirely clear, what you

make of the market reaction today, what does that tell you. >> i think with the market reaction tells us it's more about the way the market has been trading and less about the incident in isolation. if we think about the rotation that we began to see about a week ago for mega- cap towards value and small-cap, to me this is moving back in the other direction and it felt like the trade was overdone and the speculation built around president biden dropping out of the race you solid pickup a little bit particularly in the form of the trade which a lot of people have flagged being part of the broader trump trish this is balancing itself out after a big move in one direction, what i say about the political aspect about all of this it's really easy to get wrapped up in the politics we need to focus on the policy, there is a fair amount in terms of keeping the deficit wide and reflation area policies overall between the two candidates, that's were refocusing. liz: when you talk about policy and federal reserve we have seen in the past when donald trump was president how he would make

all kinds of swipes at jay powell, the federal reserve chair, we know he has no problem salting and comment joe biden has been very hands-off. if donald trump were to be president he's already talked about cutting taxes and we just popped up the deficit and when you cut taxes we will have less revenue coming in and a lot of spending, who knows, what you expect there. >> obviously net interest cost everybody is aware that this will be an issue going forward, giving the reset that we've seen in the relatively short maturity of u.s. debt over the coming years this is going to grow into a bigger problem, what's a bigger problem if we were to end up another round of trump in the white house is a bit more known quantity than it was during his first term. we know and have a playbook for thinking about how he interacts

with the fed and foreign partners is not going to be an unknown that cause volatility the first time around. >> you have to to look energy you can split it into clean energy and basic energy overall, what do you think would be the policy and is been very clear that the drill baby drill he just said at a rally i love ev's and electric vehicles maybe that's because elon musk has endorsed him in a full throated way. if you look under the trump of administration everybody stop what you're doing and look at the screen this comes from david, the s&p 500 energy index under a trump administration. it jumped and i find it so interesting because it did jump. how much was it? >> more than 50% down, clean energy under donald trump, that would be the blue line went up 275% in the trump of

administration but down 50% provided in the regular s&p index fell 40% under trump administration and gain 200% with biden, what does that tell you about the perception of what types of sectors do well under certain presidencies. >> it tells me that there are policies that are pro-consumer the consumer benefits and expansion of the energy supply is good for the consumer and it keeps prices capped but is not necessarily good for the companies themselves. i think that is the story. on the clean energy side i think there's a lot of apprehension that trump comes in and with republicans they cut back on the ira and the inflation reduction act tax credit i'm not sure that's going to play out the way people think is going to. a lot of the credits are going to be used or intended to be used to stand up to build

manufacturing plants in various states and districts a lot of those are in red territories. i think republicans are going to surprise people and be more supportive of a lot of the tax credit and capped the size of them but not eliminate them. >> it is so interesting then you have to throw in bitcoin donald trump has already open the funds so people can donate with crypto currency, does the democrats have catching up to do. >> i think what is interesting when you think about crypto while we haven't seen full-fledged you think about the journey that we've been on throughout the pandemic and it became a more accepted use of transferring dollars in wealth broadly speaking, i think the signal from that is a former president trump is very much open to any fundraising he can get, he's not going to siphon it through a single channel and obviously having done this i think it sets a precedent for the group to industry as what to expect if we have a second trump

administration. >> we don't know what to expect at this point, david, brian, noting the headlines that keep hitting the take, we are all over it as we weave in the markets, think to thank you bote have the nasdaq up 293 points in the nasdaq name involving friday's global internet outage revealed the blue screen of death to business far and wide, some are still dealing with the fallout including crowdstrike right at the center. we will show you exactly what it and the surrounding companies that got affected by this are doing three days later. if success is sweet then dylan lauren has a lock on the flavor at age 16 she told her fashion designer ralph lauren he could not name a perfume after her because she had bigger plans for her brand that plan turned into an obsession with candy, my new podcast, take a look at everyone talks to liz.

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expects strong year-over-year box office growth into 2025 and 2026, you have deadpool and wolverine coming out, it's expected to be the biggest movie of the year, crowdstrike getting stricken from investor portfolio from the wake of the global it outage shares of the cybersecurity provider plumbing the depths of the nasdaq down 13 in the third%, after a software update crashed microsoft power computers and systems around the world, if you think this is bad, crowdstrike today loss is exceeding 25%, the outage impact airlines, banks, healthcare providers and most of recovered delta air lines is still struggling right now to resume normal operations, the airline down 3% at the moment canceled 600 flights today bringing the total cancellation number since friday to more than 5000, moments ago i'm talking 48

seconds, delta air lines ceo said it is going to take another couple of days before the worst is clearly behind us. investors are hanging up on verizon shares of the telecom falling to the bottom of the dow and s&p on pace for the largest decrease in a year, verizon missed estimates for second-quarter revenue and said total phone upgrades were down 13% year-over-year the stock is down six and a quarter percent but who knows maybe it's a buying opportunity as upgrades could be stimulated by an upcoming iphone. what is it 15, 16, 38, mattel shares surging on rumors of private equity firm toying with the toymaker as far as acquiring it, reuters reports the pe company backed by luxury lvn made has approached the toymaker with the buyout offer, the brands include barbie, hot wheels, fisher-price, and fisher-price cometh shares were

halted for volatility around 11:30 a.m. eastern they presume trading and are gaining 15 at half% from toyland to disneyland, teamsters of california disneyland voting by an overwhelming 99% to authorize a strike the teamsters who represents resort parking and transportation attraction host and animal care workers say the boat was in response to disney's refusal to negotiate but also unlatched unfair labor practices and low wages, shares of disney are falling 2% in response. millions and millions of dollars hanging in the balance as kamala harris takes over the biden harris warchest, will the vice president be able to legally support her presidential election bid by utilizing $200 million already raised we will ask one of the top experts,

former federal election commission chairman bradley smith used to be in charge he joins is next on fox business and set your dvr if you can join me tomorrow, mike nova grasped the galaxy founder and ceo he is a billionaire who has been angling behind the scenes to get a fund together for somebody other than joe biden to run for president, we will get his thoughts on the breaking news that kamala harris campaign is forging ahead joe biden's exit, guess what, the ethereum, mike nova kratz we will talk to him tomorrow on "the claman countdown" we are coming right(♪ back, the nasdaq very nicely higher by 270 270 points. car, where are we going? we're here. (♪) surprise!!!

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the dow, s&p russell charging ahead but kamala harris campaign team just announced an updated number saying it's raised $81 million in the first 24 hours since joe biden stepped down this reflects the campaign the dnc and fundraising committees that is on top of another number as of june 30 the biden campaign the dnc another entity said $240 million in cash on hand 96 million that specifically belongs to the biden harris ticket if vice president kamala harris were to top the new ticket democrats a 96 million go straight to her campaign but republicans are getting for a serious fight, joining is now first on fox business the former chairman of the federal election commission bradley smith let's make clear

for people that don't know the fec you protect the integrity for both sides of the ohio, tell me what happens to each pile of the money each bucket in the aggregate can kamala harris have access to if she ends up in the candidate? >> the key thing is a 96 million they're not affected they can change from spending on biden to harris but the question is a 96 million the harris campaign has made the choice yesterday afternoon with the minutes of biden pulling out the race they file paperwork changing the name to harris for president in the united states eats can the house and authorize committee only represents one candidate but

there's one exception which is the vice president of the race committee or the candidate for vice president is this considered the same for president, their ego since 2020, that was the nominee in part of the biden harris campaign renamed the harris committee so she gets the money, not so fast they republicans their argument it refers to be in the nominee in their position since novembet been the vice presidential nominee, she is the vice president had biden not withdrawn he could've replaced at the democratic convention room biden biden decided he wanted somebody else. she was at the vice presidential nominee that is biden's campaign committee running for president and he can't transfer the money to another candidate that's the republican position. liz: kelly what's going to

happen the republicans are gunning for a battle, the democrats might do the same thing if the shoe were on the other foot. >> they would and they made a choice by renaming the committee and i'm sure they spent money since then they made the choice of the republican version of the law there already in violation what's going to happen, the democrats are taking the actions some file a complaint to the rnc ally where complaint filed with fec, here's the thing under the statute that governs fec it takes a minimum of 60 days for the fec to do an issue any finding from point a to point b with no friction or delays or anything else that the way the statute was written practically speaking not enter into october

and the fec would have to found action to force their judgment against the harris committee sometime in october because the democrat's position i think the republican theory is better but democrats as possible and given that i don't think any federal judge is likely to issue an injunction weeks before the election sign one party has violated the law and they can't spend the night 5 million some of which they already spent which is not likely to do that the reality major decisions and even if the fec was to pursue it will be difficult for the fec makeup and likely to have the democrats through republicans and the need for boats it is likely the three democrats will say harris is a possible position we will adopt that even if they took action i don't know if you see any resolution in the courts prior to the election.

a practical matter harris can spend the money if she becomes the nominee. liz: we will follow the campaign money trail it already looks rocky, thank you very much bradley smith former commissioner of the fec president biden out of the race democratic donors are breaking out the checkbooks, all about money, charlie gasparino joins us next to tell us where the donor money is coming from still the trump campaign has a lead, they have more money in their coffers, working to break up next with charlie on "the claman countdown". ♪ you'll get better when you're not blamed

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liz: democratic donors opening the floodgates in the last 24 hours since president biden would not seek election in november. the harris campaign has hit 81 million in conations. a lot of it small grassroots donations thus far. what about the megadean norse, what are they pledging to do? charlie gasparino. >> a lot depends on the polling. we don't, looks like she does marginally better than trump. liz: i see a lot of polls where he is a ahead. >> does marriagesnally better

than biden, against trump, a lot of polls have him ahead. couple polls show them even. here is one thing that is really interesting. i think this is why the money will flow in big time from the megadonors. he hits a plateau of 50% or below. they think they can win. i give you a little bit of a timeline last week. friday, my sources said it was done just a matter could happen tomorrow or next day but they were done. the donor class was begging for him to leave. one reason why you know they ran out of money, or they were about to run out of money, the biden campaign is after trump's speech, someone told me, a democrat told me to look at this, this is fascinating. after trump's speech it was long, the first 30 minutes were great but the second 45 were like all over the place. a lot of divisiveness.

there was not one real major attacked a against him. they were in that much disarray. in normal function of campaign, you would have done all the reruns of trump said in the second half of the speech. they didn't go there. that is how you knew the campaign was in display, the minute he steps down, kamala harris was likely replacement, whether you're saying they're doing it in a minute my primary or not it is basically hers at least as of now. i asked one of my top democratic sources works on wall street, working both in the obama administration and in the, in the clinton administration, so what happens with the money? he goes, is it will flood in. liz: 81 million already. >> that is the small donors. >> can i say after the rnc, donald trump and jd vance saw an, after the assassination attempt, tens and tens of millions of dollars. >> money is note doing to be the problem for any of these campaigns right now.

i mean if she is the nominee, it all but looks like she will be, even though it is kind of a crass sort of nominating process. voters really didn't have a chance to vote on her. this is a little bit of a problem here. liz: yes. >> you know, she, biden wouldn't agree to be primaried against dean phillips. she, with everybody else helped cover up his issues. liz: people who were on the fence about biden often said it is because a vote for him is a vote for her you don't like her. >> this wasn't a very clean process, but she is youthful or younger. she is not, not mentally incapacitated. >> the money flow shows in the last 24 hours she has energized at least focus, that hadn't donated. >> this is market show. so i want to bring it back to the markets. liz: please do. >> there was a trump trade put on the last couple weeks. liz: yeah. >> money going into stocks would likely benefit from deregulation

like financials, maybe utilities, maybe crypto, maybe, various sectors, oil and energy. so these, these sectors benefited and the whole markets went up, right? there could be a reverse of that trade and here's why. liz: can i say the nasdaq and s&p came off the worst week since april. >> you don't want to attach yourself as the trump trade where the nasdaq, s&p had the worst week. >> just so you know, part of that worst week last week, was as a result of trump trade unwinding this. people taking profits. it looked like joe biden couldn't make it. every interview it looked like, making a bad situation worse, right? so i would just say this. that trump trade is still on. i would ask your guests, your market guests this, i know you're getting it at the end of the show, will there be, is this a black swan if she starts

polling better? will the markets sell off? because the trump trade was based on trump winning the white house, republicans winning house and senate. deregulation, corporate tax cuts. if it looks lewks she is going to win, those are all off the table. markets have to react to that. ask your guys. you have the experts. >> my guy is actually a whale on wall street. let's get to him. charlie, thank you very much. when we're talking about whales, john ma kay at schroeder's. as we go into john's interview, closing bell ringing in four 1/2 minutes. semiconductors, john, are really enjoying the wind beneath the index's wings. tell me what you should be advising your clients at a time like this where we have headlines breaking and the landscape shifting under our feet? >> do you mind if i quickly comment about charlie saying trump trade at the end? liz: sure do. >> i think there is a piece of

market's movement the past few weeks is probably due to growing confidence trump would win after the debate in june with biden where we all know biden struggled significantly. obviously the attempted assassination attempt gave trump another boost. there is obviously other things going on here. i think if you looked at a chart of small caps, for example, which really struggled over the last year or so versus large cap, especially large cap tech, they really took off after the cpi report earlier this month on july 11th. that was a weaker report. it sort of built in confidence to investors minds fed would cut-rates, more likely cut-rates in september. the likelihood of a rate cut in september went all the way up to 90% plus. i think there are other factors at play here. small caps have done better the last few weeks. value has done better than growth. you've seeing a little bit of weakening in the high flying megacap names. i think there is a bit of

politics attached to that but i wouldn't ascribe it all to the trump trade. liz: over at schroeders you have $900 billion in assets under management. why i call schroders a whale, you a whale, you're head of wealth over there. give me a sense, you mentioned small caps, for example, do you think the rotation will pick up steam again because it was hot a week 1/2 ago? then it kind of faltered with the rest of the market around thursday, wednesday. yeah, it was wednesday. so where do you stand on that and do you feel there are certain subsectors within small and mid-caps you feel would run? >> yeah. so i'll start broadly on the market on the small cap market. so small caps trade very cheap on a relative basis to large caps. they have for sometime now. small caps have very economically sensitive. i think what the market is trying to figure out right now, if the fed were to start cutting rates would that allow a soft landing? and you know this is odds,

right? you trying to make a prediction how likely is it we continue with decent growth, have a soft landing, have a hard landing. if the fed were to cut, that raises the likelihood of a soft landing. so it would provide a little bit of a boost to small caps. i would view this as a little bit of rotation. investors are always looking for areas of the market that underexposed, have the potential for a boost and so i think you could get a little bit of a fundamental, you know, oriented shift into small caps. liz: okay. >> away from large caps if the soft landing is the most likely scenario. liz: as you are watching all of the developments from washington, d.c., is there one party or another that you feel might be better for the economy? i know it is just ridiculous to even ask that question and i regret asking you that question because who knows, right? there are all kinds of black swans. >> there are. it's hard to give a firm answer but what i would say is that

trump's policies, tax cuts, you know, which we think would be very likely to take place if he got into office, especially if you had a republican sweep, would provide a boost to the economy. there are offsets to that though. if he moves forward with his proposed 10% trade tariffs across the board that could be very inflationary, that would be, an offset to tax cuts. it is hard to unequivocally say, i think that is actually, if i can jump in on taxes, more like a negotiating tactic. he will come in, say 10% across the board but i do think that trump at the margin would be slightly better. [closing bell ridges] liz: jon mackay of schroders, great to have you on. big day for the nasdaq. powering to 18,000. see you tomorrow. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. the chief of the secre