here. >> running certain deals and at this point you need to be an a-plus top of the library movie to see it and there's already enough depressing things going on and i would be more down and we need to laugh more and need more on the line. charles: telling both and >> money does. >> money for kennedy. here's liz claman.

liz: starting with stocks in the green solidly and s&p blasting to a brand new record and we just got a window open into what drove the federal reserve to chop interest rates last month by 50 basis points and ease ultimately and substantially majority of voters going to have jumbo cuts and balance confidence on inflation with worries over the labor market and tackling that and including the 347 pointman for the dow and the 39 pointman for the s&p and getting to that in just a moment. p you needed any confirmation of just how dangerous hurricane milton will be, take a look at your screen. the category 4 storm is now located 130 miles west of ft. myers, florida, with winds topping 130 miles per hour.

here you can see the waves are crashing along the shores of engelwood, florida. normally it's blasts and extremely calm and the waves are going ahead and it's let tonight and the hurricanes far outer bands and going to spawn tornadoes and look on your screen and in the town of florida and large, large imposing tornado and then another tornado and going to spot in the line across florida and warnings across them and seeing on them and going for them for the warning and it's no longer a watch. going 5.5 million residents to get across the west coast and going out and 24 hours and for traffic going for the roads and nearly empty and either gotten out and staying put and collier

county and lanes are empty and tolls suspended on highways in west florida, central florida and alligator alley and shoulder use to enable more kiro 7s to plea the area. while many are heeding the warnings to evacuate, florida's attorney general has issued a sober order. liz kents who choose to stay -- residents who choose to stay behind write their napes on their bodies with permanent marker to be identified. coming up, we'll take you live to tampa for a live report on the very latest coordinates of the storm and milton's potential impact. we're learning the storm's effects could reach all the way to wall street. securities and exchange commission saying it's closely monitoring the hurricane's impact on investors and the capital markets but for now, we're looking at blue sky rally here. the dow is in record territory and needs to see a gain of 272 points closing at 35th record of

the year. right now we're already there and well above it gaining 343 points tony, the spirit and t3 tradings prop trader scott redler. tony, right mow you're looking at all different kinds of things and looking at where money is best spent. >> it's a combination of fundamentals and really good and

song and looking beneath the surface, there's a lot of opportunities in the market and for example we've been talking about the equally wait versus caprate. liz: this level is hair here and scott cops in with s&p 500 level and at the moment standing at 5,781. that is something that you have said, scott, it's 167 held for two weeks and what do you think about that? >> a new level and market is a technician and tactical market timer and we need to see for them and fundamentally it's

irrelevant >> we done want to fight and go with it and equally very important and first half of the year and everyone was saying it was the mag 7 and equally s&p took over for them and fed expectations for 72 basis points of a cut and then with the jobs report on friday, being so strong, went to 50-basis points and the market had to prove it could absorb it and it be and high and going for 5830 and traders looking at cpi tomorrow. beneficiaries and they're going to borrow so much. liz: you're looking at larger

cap model, mott specifically the mag 7 but where do you fine the real opportunity in large caps? >> more often and not, large caps outperform small caps and i see much -- a big quality gap. taking out sixth largest companies and falling to 250 billion and i think the question people should be asking is megacap versus run of the mill large cap and i think heir going to become more and more important. liz: scott looks at technical

picture and where do you see real golden chances for investors at the moment and going with calls and 219 calls and going for the rate and i'm looking for a opportunity a week ago and looking for semiconductors and when nvidia came out and going with them on the black vote and going through outrageous and it's fair and looking for receiving them and keep rotating to sustain those levels. liz: i need q4 and you're looking at q4 outlook and you've dis-'tilled it and fresh in your mind and got to put out your note. earnings estimates and pretty

well and i think it's the earning season starts this week and i think we'll see companies beating it and that'll also be very accommodative for them. liz: election and this hurricane and there's so many unknowns. >> yeah. i think the hurricane is human perspective and potential tragedy and thoughts out to the people in florida from a economic point of view, i don't think it's as big of a deal from a market economic and election could be a big deal. liz: hank both so much. tony, scott, tons of action in this hour in fact with 52 minutes left to trade. major news for crypto and hundreds of millions in that collapse of crypto exchange ftx. a judge has just approved the plan for bankrupt firm and we're about to get reaction from one of them who lost $130 million.

orlando bravo, private equity king and bravo managing corrector and founder and joining us in a fox business exclusive and how much of mig you're expecting to get back and if he'll ever invest in crypto again and going with the "claman countdown" coming back and dow going higher 358 points to the upside. where ya headed? susan: where am i headed? am i just gonna take what the markets gives me? no. i can do some research. ya know, that's backed by j.p. morgan's leading strategists like us. when you want to invest with more confidence... the answer is j.p. morgan wealth management (marci) what is going on? (luke) people love how the new homes-dot-com helps them get quick answers about any property by connecting them to the actual listing agent. (agent) oh! so, i'm done? (luke) oh, no, no, no! we're still not sure everyone knows that we're the only site that always connects you to the listing agent rather than selling off your contact info.

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wouldn't it be easier if you could find what you want, all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. liz: apple's current hardware boss will take on the

responsibilities of richio and lead the company's head sec division and this is a loss for app and will he spent 6 years at the -- 26 years at the company cpi part of the team developing the first ever apple vision pro last year and a lot said it wasn't taking with consumers. it was very expensive and it is very expensive and just today, meta saying the ray ban glasses tested in the uk and australia and merely two years since customers and investors in ftx and high flying crypto exchange woke up to find the company collapsed and all their money disappeared. now thanks to the delaware bankruptcy court's approval of ftx lic liquidation plan, those customers will see their assets reappear. $6.5 billion in assets recovered

after the fund imploded and distributed to customers to make them whalemen. ftx planning to repay customers that had $50,000 or less on the exchange. according to bankruptcy court documents and shareholders receiving up to $230 million from the $1 billion in funds seized and customers reimbursed at old price and november 2022 price. what about the investors that got to pile up the company and this is going to react and bravo founder and managing partner and orlando bravo joining me in the exclusive. first, orlando, i have to ask,

is everybody safe in your company? >> i'm from puerto rico and we talk about that all the time. it's so different and the local government getting to and what the government helping and the things i saw and the displacement and going for homes and people not even having them with water and incredibly sad and personal and we're praying for all the people in tampa and going to be huge problems. liz: you've got a company you invest in in tampa; correct? this is a big office dealing in miami. >> it looks like miami is going to be okay and there's ambrette company connect and going for

one of the best companies and so many great people. we're making plans to help them with whatever they need. liz: i hope everybody you care about is okay and this court ruling and bankruptcy judge saying, okay, we can re-crypt money to the customers -- redistribute money to the customers. >> i don't know. for 25 years, we've been buying market leading software companies and beautiful businesses with $500 million in revenue and billions in rev muay not working for their shareholders and that's where alpha cops in and buying those

there's shareholders closer to 10% and we don't know yet. going for that and going for companies like that. going for them and never going for that. going for the future. liz: it focuses on software companies and going for them and ledger for transaction company and going for companies and going through ai. it's very important to what you do. that's where you're hunting; correct? >> hunting and enterprise software. business to business and they're

interesting now and blocked in and block chain has wonderful uses and going for them with financial services and they're not monetizing their value and currency and cryptocurrency and going for them. no more. no more. liz: okay. what's said, let's go to ai picture here. last time you were here they were growing into that. where do they stand right now? >> it's amaze where they stand right now. in the business to business world you're looking for pure generative ai companies. that are providing solutions in banks and other companies and going for them.

it's going $2 billion in revenue right now and securing your e-mail from threats and you use going for them to develop a generative ai product and going for all the areas and solutions are being provided by market leading lines and customers themselves and they're not paying for them. you're bundling that into the market.

heir going to grow and seldom take them back into the public world. liz: the federal reserve, we have the minutes and majority felt a 50-basis point cut and do you hope because it's these growing companies that tend to need to borrow capital more. do you hope there'll be bigger rate cuts down the line? >> it would be mice. it's like when the first 50 bits happen and it wasn't like the private equity industry was just throwing a party over it. it didn't make much of a difference. we're trying to tophus on increasing the earnings of the company. liz: does it depend on some type of economic shock? >> it's likely.

what we're seeing and we have now $35 billion in software revenue coming from the companies. we're seeing daily results and offering gdp and global 2,000 customers and we're seeing a environment that's relatively mulletted and it's relatively plat right now. >> it's stable and has been for about eight quarters. liz: when you hear people say this is a horrible economy. it is tough for some people out there who still are paying higher prices with inflation, but we look at really bad economies that we have seen, 009 when everything imploded during the financial crisis. or after the dot come implosion and those are bad economies for no jobs to be found.

>> so overtime no economic progress and the economy people choose to leave the system. it's not fair for them. choosing mott to have them and coming out of covid with free money for enterprises getting free access to and one of the ceos said it so well and one investor asked them how come you're doing so well? is the economy coming back?

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largest minor of that and batteries if the deal closes and that's going to be 5.85 per share. $5.85 per share and represents first reported broiderers and it's at $5.55 gaining 30.7% and still not at that eye up level. milton still seven hours away from making landfall and already tropical storm force wind imuses hitting the florida keys and tornadoes are touching down in central florida as well. we're about to take you live to tampa, which is expected to take a direct hit from what could be among the most expin sieve u.s. storms on record.

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boat key and battering the florida coastline from the keys to the north of tampa and millions of americans flee cities in the storm's direct path. a destructive life threatening storm surge is expected along florida's gulf coast and milton is set to make landfall somewhere between modera beach and venice, that would be around 10:00 p.m. eastern time or slightly after. maybe through midnight. and that span puts them scarily in the middle and businesses are bracing for the worst, mott just the residents. more than 235,000 commercial properties are in the path of the storm. the total estimated value of those properties: $1.1 trillion. pox weather bob van dillen is live on the ground. describe the situation you're

seeing. reporter: yeah, liz, we shifted further south and we're in cocoa beach, florida, which is a space coast and a bit south from where we were. if you look behind me we've got series of squalls coming in and they're on the east side of the state of florida. that's atlantic ocean and this is a huge storm and into where i am and the middle part of the florida coast and atlantic side and multiple tornado warningds s plus for florida since early this morning and going for that and it's reported also and where i am right here, it's in the midst of tornado warning ands we've got some off to the west and down to my south and i'm getting battered right now and we have to wipe the lens, it's humid and sea spray from the ocean and it's humid and right through the center part of the state and areas like orlando,

you'll get a huge shot of wind also and a lot of rain and then where i'm standing by tomorrow morning late into thursday afternoon, exit off the space coast and moving from the atlantic coast and however, that means the winds are speeding out of the east tomorrow morning and going 3-5-foot storm surge on atlantic side and we have storm surge warnings where i am all the way up past jacksonville, jacksonville beach and st. johns river in jacksonville, we're worried because must remember one you're getting a lot of fresh water flooding draining into that and that river flows to the south and north and exiting to the atlantic and by tomorrow, high tide and it's about 3:00 and winds will be shooting up and at the mouth of the river keeping the flood waters elevated and going extra storm waters and going for atlantic and tune of #-4 feet. 2-4 feet and all kind of dangers and currently it's a tornado threat. the wind threat picks up later this afternoon and flooding rain picks up after that and calling

for 8-12 feet in tampa bay and record storm surge set two weeks ago 7.2 with hurricane helene. here we go again. liz: i'm looking at the i cans tangerines between daytona beach and tampa. it's supposed to be where the eye hits. and this is that the conditions that you have right now, way on the other side and as though they do and fox weather getting a coverage that most people listened and we earlier showed a roadway of highway and it was empty. yesterday they were all japped but the sense that most people have moved and taken, here's a line and moving for them to take shelter in the places.

and reporter: my photograph ore was you'ving through georgia on i-75 and bot over the florida line and clocked 70 miles of bumper to bumper traffic moving in the northbound direction of i-75. they're still moving 15-20 miles per hour but that is a huge migration of florideans out of the state, out of harp's way into safer grounds. georgia, west coast of florida, talking about panhandle and spots like alabama too. yeah, i think people have heeded the direction. liz: good. all right, bob, please stay safe, you and the crew. thank you very, very much. >> you got it. liz: publicly traded company is tampa bay-based insurance group and covers 200,000 commercial and personal clients in that area. trevor, you're based in tampa but riding out the storm in tennessee. what are you hearing proudly supports your customers in the storm's -- from your customers in the storm's path? >> liz, thanks for having me on and first, i would just implore

all my florida residents to take all the necessary precautions and this is an incredibly dangerous storm and safety comes first and making all of the requisite preparations to respond to the post seventh helping our clients pick themselves back up in the aftermath and recover and our clients in general take ago lot of precaution and focus on jurying their destructive properties and belongings and safeguarded as best as possible but there's only so much you can do with this magnitude of a storm. liz: outsized losses to residents but also, trevor, to companies big and small and you come in and that's making them and you're there insurer and policyholders and what they will be insured against. >> liz, importantly the goal we play in the marketplace is what

our clients adviser and broker and we help them and going for individuals every single individuals in the u.s. and going for them and couple hundred thousand here in the path of the storm. and going for them around coverage setting for the strong wind and going for the record storm surge and it's a flood pearl and that's going for them and that's a huge protection gap in florida that writ large as you look at traditional policy not covering that. >> the damage from rising storm surge and rising waters and if you look at helene just a little bit more than a week ago, while there were billions of dollars of insured flood losses, we believe there's $0-$30 billion

of uninsured flood losses and incredibly important for client -- businesses and individuals to be getting the right advice and the right protection to mitigate against these types of natural disasters. liz: and this area is barely recovering from hurricane helene, which just two would he bees ago blew through making landfall and how many claims did you receive from that storm? do you have enough in that fund to cover what could be an additional tens of thousands? >> yeah, we had thousands of claims from helene and we expect tens of thousands of claims across our portfolio from hurricane milton. we pride ourselfings on trading with kind of -- ourselves on trading with the highly representable insurance firm going for them and hurricane milton is going to prove it to be a serious test of the broader florida insurance ecosystem and

i suspect we will see wide ranging long lasting impacts. liz: okay, what advice would you give to business owners and homeowners, trevor, ahead of the next storm? we have a couple more months of hurricane season. this has just been a killer of a season. spending a lot of time and our clients advising around asset hardening stat jim jordans to ensure physical structures and assets are well protected and mitigated as possible. it matters that you have the right insurance structure and going with insurance companies s and those that are going to be there and stand behind you and help and it's a opportunity going for what we hear for and standing behind them and going for them to help get back on their feet and going for them

and on the line. >> it's too early to tell exactly what impacts pricing will see relative to this event and seeing estimates ranging on the low end of $20 billion and high end of losses and going from hurricane milton alone. and landfall heading north of tampa bay and heading further south of the lower loss early intervention program pact and going for them and the average match rale catastrophe losses has been $100 billion a year and going for them and going to make them right in the profit and going for that and >> risk is

transferred and managed in the state of florida and peek zone globally for natural catastrophe losses. liz: peek zone globally and playing out right now. trevor, thank you very much. stock up by the way and doubled over the past year and at least your loss event looking for that and capital doubled over at 111%. trevor, be well. hank very much. >> thank you. be safe, everyone. liz: thank you, for up to the minute coverage of hurricane milton and fox weather on fox business and we're coming reich back.

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all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. liz: okay let's take a look at the price of the seventh largest cryptocurrency by market cap. that be xrp. right now it's at $0.53 per token down about a quarter of a percent this hour on news of another filing of an xrp etf so joining us is charlie gasparino and steven mcclurg.

charlie take it away. charles: mr. mcclurg, how are you? >> charlie good to see you. charles: good to see you. don't you have a little problem named the sec and getting this thing done? i mean, the sec thinks we all know, they think xrp is a security. they got a mixed ruling out of the , out of judge torres recently, the federal judge on the case on ripple selling the xrp whether it's a security or not. they've appealed the mixed part of that ruling, the mixed part for the crypto industry. this seems like a hail mary, or explain. maybe i'm wrong. >> yeah, look. here is the way that i see it is the judge did rule that xrp is not a security, so s's far as i'm concerned, that ruling stands that it's not a security today. the sec did appeal, so if the appeal does happen to go through, then things change, but as of today, it has been ruled

in the courts to be not a security so there's really no reason for this not to move forward. charles: well to get the etf approved you need the sec, right? >> yeah, that's right. so we would have to file, an exchange would have to be filed and the sec would have a certain amount of time to approve that, but they can't just approve it because, they can't just disapprove it because they think that it's a security and the courts rule that it's not. they actually have to -- charlie: they kind of can can't they, knowing gary gensler? i'm not saying i'm taking his side. knowing what i know about gary gensler, i bet you they can, but what brings me to another question, steve, and listen, you make a valid point there. the courts have ruled that the xrp that's held by retail is totally kosher and is not a security, but we do have a little bit of thing called an election going on. we do have a candidate named

donald trump whose a pro-crypto candidate. we have another one, kamala harris who, who knows where she is on this thing. you've spoken out in favor of donald trump. is this , like are you playing a long game here thinking maybe trump might win this and then you can different sec and then you've got your xrp etf ready to go? >> look, i'm going to say that i hope that trump wins. you know, nothing is for certain, but we certainly hope that he does, and when you say that your right. we really don't know where the vice president stands on crypto. she's spoken favorably on it at times but the actions have actually been quite opposite. for instance, if you're a company dealing with crypto, it's very difficult to get a bank account right now. charlie: oh, yeah. the reasoning is the fdic is pushing banks to either

debank or to not bank companies even touching crypto. so that clearly falls under the executive branch, and we don't really, we haven't really seen much of the current president. he might be mentally incapass it incapacitated, but harris, for all in tense and purposes is the president right now. charlie: liz has a quick question. liz: we've got to run but you're following bitwise which already is interested in doing an xrp etf. what will be the difference, fees? what are you going to charge? >> yeah, i believe it's going to look a lot like the bitcoin etf that launched earlier this year, where different groups have different things that they offer. some of it is going to be fees. some of it is going to be expertise in the area, so you know, we'll likely have a few different xrp etf's at the end of the day. charlie: how about hester pierce

for sec chair? you for it? >> has my vote. charlie: have to end it there. liz: thank you very much. thanks, charlie. guess what the dow and the s&p on track for record closes. we've got two minutes to go let's bring in global investment senior portfolio manager thomas martin. thomas, people want to buy low and maybe sell high. today they be buying high. what do you do? the dow is up 458 points. >> yeah, it's hard to find names that are off of their eyes highs at this point and are not very close so you look for same companies that have good fundamentals that may have been knocked down by something that has an issue associated with it, and that's the kind of companies that we're looking for. liz: okay, lets put up your picks right now. chipotle, now that of course is one that had been hammered when the ceo had left. brian any nichol, moving on to starbucks, so here is one that's a good company that went through a bad time.

>> exactly and it still hasn't fully recovered yet. there's still about 15% off a good sell of all-time high but the fundamentals underlying it are fine. the ones that were good were remaining and they have dealt with the gross margin issue, and portion size, and there's probably some upside to margins from there, and they still have some more initiatives just in terms of the basic blocking and tackling, and having higher throughput and potentially raising some menu prices. they have the limited time offering of the brisket and they've extended their ability to be able to do that through year-end, so they are well positioned to get backup to their all-time high. liz: micron and uber are in that camp. buy lower at least. it's great to have you sir thank you have much. >> [closing bell ringing] liz: lots of green on the screen. kudlow is next. larry: hello folks welcome t