it's nuts. anyone who own as business and everyone leaves for a week? it was dumb but arrogant and the stock of course has mostly gone down. it's now $5 and strangly six firm hads a buy on it. we've seen this movie far too many times. container store boldly told us capitalism was out of place in its perspective and it's ironic. bashing capitalism to raise money to be publicly traded and the company we have a yummy strategy and put stake holders in front of profits and the stock fizzled and shareholders lost their shirt. i suspect maybe that's how to show you the only way to beat capitalism is not to be a capitalist. we have the best system in the world and i pray that no one ever has the power to change it. in the meantime, i'm handing liz claman the rally, don't blow it, liz.

liz: wait, did i blow it yesterday in i hope not. breaking news, every penny of yesterday's losses on the dow, s&p, nasdaq and russell have been erased by this rally that's held up the entire session. question is can the bulls get the ball into the end zone with 59 minutes left to trade and we asked that because yesterday they fumbled at the 10-yard line. right now we have blue chips powers ahead by 646 points. but remember, the dow watched 480 points evaporate wednesday and close down 234. not saying that's going to happen but look at two day chart. possibility, who knows. s&p up a dramatic 115 points on track for its best gain since january of last year. nasdaq rips higher and look at this move with this point gain of 438. we are up 2.7% and chips leading the way. specifically one chip stock that

got destroyed in monday's selloff. arm, which got slashed by 11% on monday now blasting higher by 9% putting back into the green week to date and all the semis putting in a brilliant performance and flip to the socks index and more than 4% jump here, which just jumped to 5.9% coming down from the 20th floor to the set. what are some names doing it? klac, arm, microchip, marvel, all of them -- marvelle up 5.9 to 8.2%. huge move. the number of people joining unemployment line fell by 17,000 to 233,000 last week below the 240,000 estimate. that is a welcome sign for the labor market and of course calms people down from monday where everybody thought we were in the middle of a recession.

what's not working in an equity world? warner bros discovery. wbd collapsed at the open to all time low of $6.73. investors fleeing after the media company missed on both top and bottom line in the second quarter and reported a jaw dropping $9.1 billion write down in the legacy tv assets and namely tied to turner. right now the stock is down 9.25% and barely clinging to $7 a share. turner lost out on nba broadcast rights. why when the stock has now lost $40 billion of its market valuation since the media company was forged when warner bros and discovery merged in april of 2022. why does one of top wall street analysts covering the stock call it a buy? bank of americas securities is here and why she's still a believer. overall with the markets, it's a rare day when both of the markets and bond yields are on

the assent and 10 year yield heading north for the third day in a row and up six basis points back above 4% just barely but get right to the floor show and two of the best tra traders in e biz to help us understand everything and steve and keith fitzgerald. forget about the fed being data dependent. now investors are data dependent and if full a took was a benign jobless report to spark the rally, what do you make of the outsized move in the markets? >> two things. amount of liquidity going to war is extreme and all that money running in is like fill ago bucket with running water and sentiment on the razor's edge and anything that calms that down will bring the capital in because people want to get ahead of the fed even if the fed does nothing. lauliz: even if the fed does nothing and fully expect the fed to cut rates bay quarter of a percent in september. that said, look at today first.

all 11 s&p sectors moving higher by what was leading us over the past year and a half. technology. what message does that send when tech was the worst performer on monday? >> foe mo remains stream liz. the whole way down and up and wheal way down and people want to put their money to work and this is the place people go to first. liz: should investors ape the fed being data dependent and cares about full employment and data that go with that. so, steve, do you get the sense that investors are doing the wrong thing now by getting all excited about one data point? >> absolutely for today. we've been in the business for too long and neither of us want to mention and have you ever

remember the market zooming or even moving on a weekly jobless claims number? liz: been awhile. >> one piece of data and hanging upon everything and the recession narrative got so strong earlier in the week that i think anything that pushes back against that has been overly welcomed as a good sign. liz: i will give you props, mr. fitzgerald, and the fact you started buying a lot of things several years ago and on the days that we're selling off, you came right on the show and said please buy this. this is the time to buy specifically a name like palantir, which has bucked the entire week's trend and early part of the week and it's up something like 17% week to date and 6% for the month and a banger of a stock. >> great number and great company and addition. >> we bought more this week and we'll continue to buy more.

that stock was $50 a share. liz: at 28.94 right now and what are you selling? do you sell anything, keith? >> it's part of a very different process and what i look to do is constantly rebound for an example and ditched intel when the company didn't fit the narrative we thought it had. never been so glad and sell ago stock and we've had other names to come and go with but again, we have a very core focus and tend to have a lot of condition, and try to stay with names as long as we can as long as it's working. liz: steve, look to your customer at interactive brokers and buying on the way up and buying on the way down. specifically this week. what were they buying beyond technology? >> beyond technology? it's tough to say because they've been pretty much so focused on tech that taxpayers really what it's been about. liz: going with 3x leverage

details? >> yep. triple qs, sox l and bought a lot of vanilla etfs, qqq that kind of thing. our customer really love volume and volatility, and they just -- everybody is conditioned to buy dips and worked really, really well. doesn't mean it's always going to work well and worked well for them now and certainly for them today. liz: i'll tell you, you look at markets at the moment and, keith, they look very strong. of course people were concern when had they saw the volatility fear index on monday spike above 65. crazy number. i mean at one point up 181% and we're all the way back now down to 24.5 on the fear index. is that a good thing or bad thing. >> it was a good thing and bad thing. it's not just the people doing this. the huge rise of passive

computecomputerization all the x keep up and endowments keeping up and this type of stuff in the name of innovation will get more violent and the key at this point is making your decisions and place your bets buy all the way down and back up and liz: small and mid capped up 2.25%. the economy is premature to say it's going into a e session. >> load up on dividend and volatility trader for many years and that spike in vicks was less about fear than more about oh my

gosh, i have to get out and overlevered and off sides and that's why it spiked up and come right back down. that was very much a forced trade. thank you, dave and keith. steve and keith. eli lilly is tipping the scales and why the diabetes and weight loss drugs have investors gobbling up the stock. and we're heading out to vconn2024 to stalk to serial entrepreneur and motivational business speaker gary vainer and america's got talent judge howie mmandel who went from local news reporter to television magnet. these are two very smart guys in business and that's tomorrow at

3:00 p.m. eastern on the claman countdown. dow is coming back up to session highs, up 691 points. stay tuned, we're coming right back. things will go wrong for your customers. but your business can make it right, with watsonx assistant. ai that can help resolve problems by understanding your customer requests with 90 percent accuracy. let's create customer service in service of customers, with watsonx assistant. ibm. let's create.

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liz: bitcoin is skyrocketing by 9 fertilizers sports grill at $59,715. driven by inflows into the spot bitcoin etfs and by the way, xrp, the coin for ripple, the token for ripple is jumping 27%. charlie gasparino is working with folks and coming back up in just a few minutes to tell you exactly what's going on with

ripple and good perceived news out of that coin. bumble is getting stung and shares of the dating site collapsing by 31% after the company cut its annual revenue forecast. bumble said full year sales would grow treen 8 and 12% and now just 2% growth. bumble missed on revenue for the second quarter. today's huge decline brings the stock to a lifetime low so if you bought bumble at the ipo back in february of 2021, you paid 76 per share and thinking youth get something back and stock at $5.59. under armor earnings rocketing higher by 19.5% by what an life-threatenings are calling better than feared sales resultings and apayroll maker posted revenue of $1.18 billion and slightly better than

$1.15 billion estimated and under armor one penny versus expectation of eight-cent loss. bet their than feared, get it? stock at $7.74. look at sizzling hot sales of eli lilly weight loss drug and they're heating up the pharma stock after lily said command for weight loss and diabetes drugs munjara and zepbound lifted by $3 billion and jumped above the 50-day moving average and stands at $844 and change. big move not just year-to-date but year over year. and costco shoppers, you're busted. the big box retailer taking a page out of netflix'book and cracking down on those that share your membership card. costco implementing policy on nonmembers using other people's

cards to shop and costco now requiring them to scan cards when entering the stores and investors giving nod of approval to that and stock up 3.25% on pace for the best day this year. the 2024 presidential campaign waving through mar la geopolitical and ahead of vice president cam -- mar-a-lago ahead of detroit and global shipping still a very deadly and dangerous gain as the middle east tinderbox shows no vibes of of calming down or finding peace. talk to the president of marsk north america about the supply chain undersiege and the chain undersiege and the shipping giant joining us next. the "claman countdown" coming right back. a ♪im daughter: (gasps) what the?! daughter: alright. dad: side to side. when you work with someone who knows a lot

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well invested, well protected. liz: weaking fuse, we need to take you live to michigan and you're look inside the room at uaw local 900 and vice president kamala harris expected to address the united auto workers in detroit at any moment. uaw endorsed the democratic ticket. they did it last week. harris and her running mate, minnesota governor tim walz, are on day three of a whistle stop tour of battleground states. this comes as former president donald trump just wrapped up a press conference at mar-a-lago in florida in the last hour and trump saying he agreed to three debate withs harris in september adding that her campaign has yet to agree to specific terms.

a new national poll from marquette showing harris with a 52-48 lead over trump. fox news correspondent aishah hasnie in the thick of it with the rest of the media at mar-a-lago and a full recap of the president's news conference. aishah. reporter: hey, liz. the president spoke for more than an hour, took multiple questions, sometimes repeatedly from our reporters. we got plenty of questions in, and that is the justice position of this campaign trying to paint today that they're transparent and that they are available to the press and that the kamala harris tim walz campaign is not. that's what they keep calling her out on is that she is not speaking to the press and she hasn't shins she became the official democratic nominee. as far as polling goes, the president did address that and the campaign has seen that small bump in polling for kamala harris and calling it a honeymoon period and the former

president basically said repeatedly today they're now shifting their strategy whatsoever. they're going to stick to the messages because fundamentals of this race have not changed, and that is that the economy is still the number one issue across the board for americans and economy and inflation issue is the number one issue. he today started off remarks by painting a very gloomy dark picture of what the economy could look like in the next couple of years, basically cy saying that the market crash was just the beginning and that we are in for a really rough road ahead if the policies and democratic policies continue. now, trump did talk about his opponent, kamala harris saying he would rather be running against her than the president and he said hillary clinton was a far better opponent and smarter opponent than kamala harris. his campaign told us today that as long as the president can secure georgia and pennsylvania, liz, those are the two states they're targeting.

if he can secure those and hold north carolina, then he can perhaps clinch this thing in november. i asked him about his relationship with the very popular governor of georgia, brian kemp, and whether or not he could repair that. listen. your campaign is targeting pennsylvania and georgia and if you get those two, you could seal the deal. that's what they say. how important is it to you and is it sallage able for you to repair the -- salvageable for you to repair the relationship with governor kemp in georgia. >> i don't know. i got him elected. he was doing terribly and got him elected. with that being said, i hope we can repair it. reporter: also, the former president responding and reacting to comments from the current president in an interview saying he wasn't sure there would be a peaceful transfer of power if the former president loses in november.

this is his respond today. >> of course there'll be a peaceful transfer, and there was last time. and there'll be a peaceful transfer. i just hope we're going to have honest elections, that's all. reporter: again, asking several different times on changing the campaign and the several bumps in polling and he said not. he's going to stick to the issue and the number one issue is the economy and continued talking about that at his rallies and one more thing before i let you go, liz, he also mentioned, came out and broke news he's agreed to doing three separate debates. the first with fox on september 4, a second with abc on september 10, and i believe that the harris walz camp agreed to that debate, and a third debate with nbc on september 25th so he's ready to take on kamala harris on the big stage, but still calling her out saying that she needs to come out and talk to us, the press. liz: sounds like we'll be hear

ago lot from all these candidates, aishah, thank you very much. aishah hasny, no matter who wins the presidential election in november, the new commander in chief has to deal wees kansas city chiefslating tensions in the mid -- with escalating tensions in the middle east and idf confirming they struck hezbollah infrastructure in southern lebanon and countries and terror groups are volunteers andlying air assaults, yemen's houthis have reignited their attack in the red sea and going in the gulf of aden and first assault in two weeks and since the attack started in november if the iran-backed rebels taggerred 70 vessels and killed four sailers. when can ships expect to sail the red sea in peace bringing cargo to and through the area. joining us now? marsk, north american president, charles van destine and live from the headquarters in charlotte, north carolina.

boy, charles, amid the deadly attacks, which apparently have no end in sight, what's your long term strategy for getting your ships safely to and from their destinations? it's portable. it's for everyone involved and we were just simply hoping for them going for the weekend. it also remains to look at how they started back in september, we now have gone to a chapter without going to prepare for what could be an issue that lasts all the way till the end of the year. its impact on global shipping has been material and impact on the fact that houthi will take longer -- food longer to get to their destination in europe or the u.s.. impact on the overall available capacity, we've been able to

deploy in the global supply chain. so right now and we look ahead, we have to confirm we can see the issue as heavily entrenched in our global supply chain and current outlook to not go away before the end of the year. liz: charles torques be clear, you're re-reporting like many other -- rerouting like many other shipping companies and not going through the red sea for the time being? >> no, we have prepared ourselves a specific list of pre-requisites for that to be the case and safety of ourselves and sailers and customer's cargo are paramount and up till the moment we're not able to confirm that's the case, we're sailing longer route asks that's the route to good hope and round about to the destination. liz: then of course, less important but certainly equally as of importance to business people is the added cost that that puts on. are you getting pushback from customers trying to ship things

and i'm thinking it is getting close to the end of august and then it's the holidays and what does demand look like coming from the u.s.? >> that's a question i've been asked many times on the last 24 hours and when we look and again this, is from our vendor spot and look at data we have available, and of course also includes some of the data that had been referred to in the past two days in relation to consumer confidence, only the case that and going for q4 and little more misty and looking into the order book of the customers and many of them retailers in the u.s.

and roughly 6-8 would he bees in the future and there we can see strong and robust underlying foundation. going as much as we can see the clouds. our view is that we don't see imminent recession on the view of data. liz: donald trump is pre-ing a deep depression and a steep drop in economic activity featuring very high unemployment and don't have that yet. charles, good to hear from your perspective. thank you very much. >> thank you so much. liz: safe journey to all sailers in your ships. carnage at house of dragon and investors and warner bros discovery warn from the battlefield sending stock to lifetime low and top media analyst is here to tell us what

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liz: nice to see a lot of green on the screen but the red is going all to warner bros discovery and the stock is hitting its max. that would be maximum low point and stock plunging to all time low after it announced eye watering $9.91 billion on linear tv networks and $41 billion on the bobs in debt and the loss of nb ark rites looks like a who ryan higgins script and -- horror script and warner bros joker and what will david zaslav do and on the morning call and cbs media and entertainment analyst joining us now and fox business exclusive and had to be agony not just for david zaslav on that call and investors listening along. what was it like and did he say anything that inspired hope?

>> the second quarter wasn't great, and the outlook is also tempered. the linear business is in a down psychoand will worse than the bears thought, even the most bearish person two years ago and paid tv declining and it's hard to see how the other businesses, which are really great businesses, warner bros film and tv and max, and hbo, how do they overcome the secular head winds of linear tv. that's the challenge. liz: sounds like a funeral but sounds like a very depressing scenario, jessica. what's the base case? underneath your buy rating? >> well, it's evolved and originally two years ago when

the two companies merged and we believe there was so much scale and hard for advertisers to get around them and they had great content. they were going through a restructuring and done a great job on the cost side and the problem is that they've had way faster than new mexico almost anybody expected and cyclical head winds of advertising falling apart for traditional media and on top of that, if it's not bad enough, not one but two strikes shutting hollywood down last year and writers and actors going on strike almost unprecedented and so with all of that and a heavy debt load, done a good job paying down debts and more to go. they've done a great job on that front. where do they go from here? we published a note a few weeks ago saying this can't go on. this isn't a scenario that

anybody wants. we kind of came up with several options that are viable and we'll see what the candors and hard to believe they will -- company does and hard to believe they'll standstill. liz: they can't and as they wait and try to starlet making their moves beyond what they've already done, the stock is diving, and this can't make anybody happy. i do want to ask about the debt. 41 billion in debt, yes, they drew down -- they were able to eliminate more than a billion this time around, but david zaslav said on the call, we view debt as an asset. that's a hard sell. >> the balance sheet is nasa and have very long term debt, 15-year maturity.

liz: 4%. >> and very low interest rate, like under 5%. that'sd a really great job in the financing and the question is what did they do from here? we think one option is to sell assets but that's not enough. another solution or near possibility could be to merge max and streaming platform with another streamer and way too many streaming platforms out there and kind of begs the question, whether hay merge? you're seeing joint ventures and bundling, which reduces term and decreases marketing costs. we think that'll happen and another option would be for them combine in a company that own as broadcast network and possibly even your parent company fox, which has fantastic assets in live news, live sports and broadcast network, very little entertainment, which is where the weakness has been and remember several years ago, fox tried to buy old time warner and

it's essentially this company and we're going successful and fox sold the bulk of assets to disney. so i don't know what fox management wants to do or the murdock family wants to do, but that's another possibility and the most extreme case, would be separating the company linear with the declining assets with the growth company and the movie tv studio and streaming your potentially separate. liz: fox is really running on rocket fuel with tubi when it comes to the free streaming service and it's been a hit out of the ballpark and real home run and at the same time that obviously wbd lost the nba rights for turner, you've got peacock rocking it with the olympic coverage so comcast universal is getting a lot of eyeballs there and granted at a dis-could wanted mace. what does that say for the sort of strength for the foxes of the world, comcast of the world,

disneys of the world and where does that leave wdb? >> point of merging with the fox if fade pattern were to happen if that did with tubi and fastest current services and fastest supporting tv and fox is in news and sport and everywhere advertisers want to be. peacock had a very slow start. they launched -- first ones to go with a subscription with advertising offer. but it took them a long time to execute because they did not invest in original content the way disney plus did. so took them a long time and they're now using sports to really drive this service, olympolympics is hoping the nbas with 25, 26 season that should be a big driver and they're investing in original content as well. so they've got a slow start and have a lot of catchup to do but they're really just way too many

streaming services at this point and feel the consolidation. disney on it is own has enough assets to stand. liz: sure, and looking good with disney+ at least as they continue to grow and warner bros discovery finishing up its down 9.25% and it isn't budging. it's $6.99. we'll continue to watch and see if your buy scenario comes through, jessica. prez come back. thank you very much. >> thank you. liz: jessica reif ehrlich. charlie gasparino on the hidden meaning behind ripple's so called win in court in its battle against the securities and exchange commission. with xrp spiking, charlie break it is next on the "claman countdown". ♪

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liz: okay, look at the price of xrp because we already told you that bitcoin was popping about 9%. xrp is up one and a third percent. you see that spike to the right side? at one point it was up 27%. this after a manhattan judge made her final ruling what many call the crypto lawsuit of the

century between the securities & exchange commission and blockchain payments company ripple. the judge ordering ripple to pay $125 million with an injunction order it will not violate securities laws in the future. the case ends as crypto has become a major campaign issue for both donald trump and kamala harris. charliecharlie all over the case better part of this for three years. >> i've been covering it so long it is sort of blurring here. i don't think this is the case of the century, right? this is the ruling of the century for ripple, particularly for people that own xrp. here is why. yes the company only has to pay, not only, that is a big fine. usually these sort of business fines into $100 million. rare cases. i mean the michael milkin settlement with the sec went that far. this thing we're talking, most, most fines are like five million, 10 million, 20 million at the most. so 100 million plus is pretty

big. that said it will not break ripple. it will not break xrp. it is a mild positive for xrp. here is why it is mild i would say only very mild. the rubber meets the road on the ruling that she gave. she gave a ruling that essentially said you violated securities laws by issuing xrp, you being, ripple, to a certain class of investors, the institutional investors. you didn't violate it when retail investors bought the stuff, particularly in the secondary market. the sec is going to appeal that ruling and the reason why they're probably on pretty good ground with that ruling, you never know what a judge would say is that most, the precedent that judge torrez, at least torrez said there can be two disclosure rules out there one for institutional investors that is higher, right, because they're saying they should have

registered with the sec for the institutions but, lower for retail. now that seems, as my father would say, as ways backwards. it should not be that way. retail should get theoretically more disclosure, than institutional. they should see the documents so they know whatth buying. that's why a lot of people are betting when the court of appeals see it, other judges see it, they're going to reverse. we should point out judge torrez' ruling has not had a press den shall ruling on securities haas. judge raykof from the other southern district said she got it wrong. he is not on the court of appeals. the judge is kind of the dean of securities laws. the reason why this thing is off its highs, it popped 20% -- liz: 27. >> because this is not, this thing is far from over.

if the sec wins the next case, think of it this way, the sec wins the case that ripple violated, gets that reversed on appeal, xrp is now considered a security. it probably can't trade in any exchange, you know what i'm saying. liz: look at ether up 10.6%. >> bitcoin is off its highs, right? liz: no, it is up 9%. >> today. liz: yeah. >> what was its high, 65 a couple days ago? liz: couple weeks ago. >> couple weeks ago. liz: it went below 51. >> yeah. liz: all right, charlie, that. >> i think it is all air but i've been proven wrong. i will say this my producer ellie tariq has another great scoop how the democratic party is just dying to get back into the crypto game. ro khanna had his meeting today or yesterday. it didn't go very well. crypto people do not like the

democrats. whether kamala harris, i know there is a big push by the mooch and cuban to get you know, have kamala harris appeal to crypto. crypto doesn't want to appear to her. liz: okay, charlie, thank you very much. with the closing bell five minutes away, the bulls are just trampling over wall street. the dow jones industrials up 663 points. s&p gaining 112. the nasdaq, 422 points here, 2.6% gain. russell, no slouch here up 45 points. they're all on the way to the second positive day in a row. i'm pretty sure none of them at the moment is of positive for the week. they're trying to get there but they're not. one more day, right? s&p is having the best day, go all the way back now to november of 2022. nasdaq is having its own party, having the strongest trading session since february of 2023. all right. so the closing bell. forget about that for a second. we're 88 days until the 2024

presidential election. democratic vice-presidential tom knee tim tim speaking along kama harris with uaw president shawn fain. while investors are trying to game the outcome of her matchup an former president donald trump, our next guest says you can sit there to try to figure out how pharma will do if one or other will win, how fossil fuels will do. he says one sector will do brill anally no matter what happens in the election. joining me with four billion undermanagement, mainstay capital management investment strategist david kudla. david, you get to unveil this sector and talk about why you feel it will do well no matter which of these two wins? >> good afternoon, liz. what a great day for the bulls. liz: yeah. >> so the sector, there has been a lot of talk about it here over the past months and couple of years but, more recently we've seen that general a tiff a.i.

is -- generative a.i., it is a secular growth story and being a secular growth story it is not affected by events as much, not affected by cycles, not affected by the presidential cycle. it doesn't matter who wins the election in the fall we're going to get this, this transformative technology is ushering the next industrial revolution. it is touching almost every industry, almost every occupation, from people that take orders at fast-food restaurants from phds that teach classes a.i. will be tools that we use or actually replace people. so it is, the secular growth story is just so strong, yes, energy, autos, all those will have a different outcome based on the election, based on the policies of who wins the election but tans formative a.i. will grow right through it. liz: well you witness the

announcement that palantir and microsoft made where they're going to be teaming up in some government cloud networks to deliver really important secure a.i. and you realize this is very much taken hold across the board. so that said do you have specific names? do you stay with the large cap a.i. generative or go with some of the emerging ones which the larger guys depend? >> well the large cap plays are easier to call right now because that's, a lot of them are in the a.i. chipmaker space and we know who those big names are and some like amd and broadcom and are coming in, will do well in the space. we'll see some of these smaller companies. it will be more like the dot come on era where some will really make it and some won't but in the large cap space it is easier to make that call because they're already showing what they will be able to do and how

they will monetize what they're doing in a.i. an etf that investors can buy chat, not to be confused with chatgpt. it has a lot of chip-makers and a other companies that will benefit in the generative a.i. space. liz: it is gaining 4% right now. year over year it is up 12%. round hill generative a.i. and etf tech. david we have a big rally today. what to you think happens form? can we push into the green for the week after monday's horrific display by the bears? >> i absolutely believe we can. we had tough days with the economic data and global carry trade. [closing bell rings] >> the market is on track, constructive with stocks. liz: david, good to have you. look at the dow, making a shot to the screen up 701 points. s&p, nasdaq, best day of the year. we'll see you tomorrow