now. >> i have 30 seconds, all share with the audience some of the names you're looking at netflix which is a great reaction to earnings reddit, spotify for week in meta you made it kind of money by meta this last time. >> i had a big move out of 2024, netflix is exactly what i'm looking for, gargantuan gap to the upside on a huge surprise expecting 5 million in subscribers and got 19 that's big stuff. >> thank you for sharing, this is when you pay attention, you can make a lot of money but for shift of survival next hour. >> tell gary not to be a fraidy cat. >> i get a text after the show. breaking news that did not take long deepseek the chinese jackpot the triggered investor forgot market selloff has already been hit by a cyber attack forcing deepseek to

temporarily limit registration the drop in a swath of u.s. stocks began on one single headline yesterday about deepseek this is a chinese chapbook that suddenly has surged in popularity, leapfrogging chat gpt as the number one app on apple's app store for a market that some would say was already overbought some stock still struggling are well off the worst levels of the session but some are not let me show you the intraday's check at the dow now under nearly through june 98 tripped up by chipmaker nvidia the face planted that a chinese hedge fund has created this deepseek car 18 cheaper and smarter chabad, the dow has recovered and has added 213 points to the upside, a big move of half 8% especially considering that we were down close to 400 points. nvidia for the dow's part is losing a lot of blood it's down

17 and a quarter% at the moment to $118, due to an unknown right now let's call it what it is it is an unknown unconfirmed. investors are cutting and running on the belief that since the u.s. government restricted exports like invidious, deepseek must of been developed without invidious price so my conductors. there is no confirmation of which chips they used but if true investors are selling off because they worry about demand falling off, the blast zone from deep-sea because a wide area but at this hour that smacked the nasdaq the hardest, because it's chock-full of a.i. related stocks including a.i. dennis seiter data center constellation which is getting smacked down 21%, broad, marbella, to chipmakers, as mci which is the a.i. data center company that helps with a lot of the hardware that is down about 13% and then

micron also lower by a big ch chunk, because constellation along with the stratton ge for nova provide power and cooling to data centers they are getting hit by the wrecking ball, is a selloff overdone or have chinese engineers just taken the lead and smacked down the lead the a.i. here in the u.s. had coming up in a fox business exclusive top global venture is here he is heavily seating a.i. startups we are going to ask him if deepseek is shaking his conviction or whether he still all in. in the meantime madison alworth chasing the story with the very latest a lot of breaking news pieces. >> absolutely be a brand-new news to bring to the show as well. deepseek is the brainchild of a small group of researchers working for the hedge fund manager they have been able to produce technology that is on par with openai and google even though the companies are sinking billions of dollars and years

into development. deepseek did this for cheaper in the matter of months and with fewer chips, take a look there are concerns around deepseek because the chinese based avi application will not answer any questions related to the ccp we were able to get on and asked them about the tnm escort protest and we got this response sorry that is beyond my scope that we asked them to tell us about the uighurs that muslim act the group that china has accused committing genocide against. at first this is fascinating the response was several pages long. we got a response with an acknowledgment that this is a contentious topic. when it stopped typing the response it disappeared and we got the same reply. we only got response to our prompt when we asked is taiwan a country. to which it said taiwan is an inalienable part of china and there is no such thing as taiwanese independence. so you see this and of course this is national security

concern for the first time put it on fox business, it looks really bad here's the thing professionals within the industry aren't too worried about the security because deepseek is open source what that means you can take the code and read it on your own computer if you have a computing power, they are way more concerned about what this means for american dominance and artificial intelligence because the gap has been narrowed sam altman of openai has warned if china wins the a.i. race it could destroy us. deepseek is doing all of this with less money less computing power and fewer chips they say they trained the latest model at a cost of $5.6 million, compared that to the $100 million that anthropic cited for last year, deepseek also claims to have used 2000 nvidia chips to train the b3 model that is compared to the tens of thousands of chips used for u.s. models, there are questions around china

underreporting how much money and how much computing power they are using it to skepticism that you on musk also shares. when we talked investors we hear it's not time to run this is the time to get into the market there is so much to be said when it comes to a.i. in the future of the technology. take a listen. >> i would not race out and catch a falling dagger with stocks like nvidia or the chip stocks but for investors with cash this should be a day that they crave they should tiptoe under the market and have a shopping list. i would encourage them to look at buying the big tech fund, an etf or broad-based etf. >> believed that america has an a.i. dominance, it has definitely been narrowed but there's a lot more to unde understand. >> i would not want to be in a foxhole with investors who cut and run this quickly on one single headline out of china. i find this absolutely fascinating and who knows what will happen as you pointed out

this is clearly compromised and in charge when it has xi jinping's finger on the button it is so obvious. as we continue to watch this thank you very much, let's show there is no doubt investors are spooked by deepseek in the application for the a.i. stocks over the past year have served as a big driver, look at the vix a.k.a. wall street sphere index right now it's up 23%. that is a pretty hot move there is a lot of panic, the reaction comes as earnings season ramps up some of the companies in the sweet spot or maybe today bullseye of the story we cannot wait to hear the earnings call wednesday after meta and microsoft report they are among the heavyweight to a port tens of billions of dollars into developing a.i. apple is a little more insulated you can see apple is having a great day of 3.8% by the way earlier meta hit a record high i believe but right now it is flat, the iphone maker reports thursday.

you know they will be asked questions about the deepseek development. it's a huge earnings week overall, tesla is on deck for wednesday, mastercard, the oil giants on friday. we will be all over this. it is not just a single window through which we look or which you should look at your portfolio than the january federal reserve kicks off with the interest-rate announcement on wednesday what on monday let's get to the floor show blackrock chief investment portfolio strategist, your got reaction is the selloff on the nasdaq totally oversold? >> good afternoon and it's wonderful to be here today i think that we have had incredible news obviously from deepseek is impressive what they've done but as you pointed out earlier, it is one headline that the market is reacting to and i think for investors that are thinking this is the end of the a.i. trade in any way, i

think that is a step too far, maybe in the near troon we could see were volatility in the market but as we've seen over and over in the past decade big selloffs, especially in quality parts aftermarket so those with earnings growth and low leverage and profitability pullbacks have often been an opportunity to add, so far were trying to learn more we think this is obviously a very strong news for a.i. adapters for sure this is also probably a really good reason to be quite nimble and active in your portfolio so that you can take advantage in these type of fast-moving markets. >> fast-moving markets definitely but do you still like us-based large-cap stocks were made in large-cap stocks that are profitable. i know you don't comment on individual stocks but maybe we can pull a palantir that's a momentum they are profitable and

they have a ton of contracts with big payers everyone from hospitals to the u.s. government and that is a stock pulling back earlier more than 7%, do you throw the baby out with the bathwater? >> that's exactly right. a person that you had on the show earlier was talking about creating a shopping list with the pullbacks. i think it's an incredible opportunity to create a shopping list of what were telling clients that all of our calls is sort of thinking about three lenses in mind, number one if you or someone that has been waiting with cash on the sidelines to get back into the tech names we think there are opportunities, we really like with the a.i. focus actively managed bia is an etf that does that very well actively. then we think investors should continue to think about other parts, again the u.s. equity large-cap market that is a

diversify away from just the tech trade and whether the quality game q you al another area for the market that we like is using our dynamic factor rotation funds again that can quickly we wait and going to other areas like value that might be profitable. lastly this is an incredible opportunity to add hedges from fixed income we talked about that with you and adding front-end to the curve and adding income and adding equity market neutral strategy with tech with quality, think about buying the dip when the time is right for you in an active way and lastly thing about the areas of the market that you can get some hedges from such as fixed income, front-end and such as market neutral strategy. liz: let me just stay, the ten year yield was thinking earlier, now i'm looking at it it's at

4.53%, earlier it was at 4.50% we could be splitting hairs but the fixed income strategy should still be a part of people's portfolios. >> all fixed incomes should not be painted with the same paintbrush and we make the point that right now in fixed income you really want to focus on the income not the interest-rate risk, you don't need to take a lot of interest rates to go well all the way in ten or higher than that interest rates stay in 3 - 5 year and then focus on the income really focus on the all in deal. liz: let me jump in. where do people run to hide, gold is down in crude oil is down i find it really interesting on a day where you would think people might roll tape into some of those areas,

it is not happening. bitcoin usually moves with tech stocks there is no usual although with crypto currency. when you look at bitcoin for example that was taking a big hit earlier is that 99000 down about five to quarter percent. 99769. >> absolutely, i don't think we should get too focused on one days price action i feel the same of all sectors of the market but gold not working today doesn't mean gold as well as bitcoin in your portfolio. another way that investors think about moving to cash instead of that why not consider a buffer strategy. strategies which might give you a little bit of downside protection between five to 10% off the market sell enough for your protected, a day like today minimum volatility as well as buffered strategy are doing really well or protecting you and your portfolio. i would say those thinking about

this as something scary and you want to move to cash may be considered buffers and iv vm is the one that we recommend in the year ahead that came out earlier this month. liz: this was hard to find any green on the screen at the moment. thank you on a rock 'n' roll day, we appreciate you being here. >> thank you. >> deepseek unable one stock in particular at&t sitting at the top of the s&p 500 we will tell you why investors are dialing into the telecom stock right now, the dow started to turn from red to green right around noon eastern that's why you should watch "the big money show" it expanded to two hours, taylor briggs, dagen mcdowell, brian brenberg and jackie deangelis have all the news that breaks in the middle of the day and they have the economic news that matters to your portfolio monday through friday noon eastern we are coming right back, the nasdaq down 691 points and nvidia is taking the worst

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liz: breaking news if you look at the nasdaq we need to tell you the loss of 707 points is the fourth worst point loss on record for the nasdaq, earlier lot of the session we had it down 749 points, 750-point loss would be the second worst point loss of all time for the nasdaq. and of course the worst of the worst would be the 970-point loss that we suffered back in 2020 during the covid shutdown

let's get to something good, at&t dialing up dollars after the telecom giant postage strong fourth-quarter earnings and guidance learning beat wall street expectation on the top and bottom line at&t also outperformed into key sectors the company attributed the big beat to what it described as solid momentum in the 5g and fiber subscribers the high-speed broadband added 307,000 more fiber-optic subs and added 482,000 phone connections in the postpaid category. the full-year adjusted earnings of $2.26 per share top guidance that issued back in december the stock is up six and two thirds percent. a different story with fintech company sophia a sharp decline of 11% on a 2025 profit outlook despite beating the street estimates of the top or bottom line for q4 sophia ceo called 2024 the best year ever for the fast growing company.

it is 2025 earnings forecast of 25 - 27 cents per share was lower than analyst expectations of 28 cents, wall street is tough, the stock issue say down 11% to $15.95 also on a downward trend u.s. steel dropping not nearly as badly wanted a third% after the wall street journal reported activist investor encore holdings is prepared to launch a proxy battle to persuade the steel giant to dig plans to merge with japan's nippon steel. they also want u.s. steel david burritt to step down, u.s. steel and upon steel tried to merge and president biden said no go you are to systemically important to the u.s. economy and security. after three interest-rate cuts in a row it looks like the federal reserve will take a probable cause on wednesday despite president trump's direct call for another cut to the benchmark rate. economist and trump advisor judy

shelton has quite the opinion on whether the fed member should comply with trump's demand and what might happen if they don't "the claman countdown" is coming right back on a very busy day, we still have the fear index of

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liz: fox business alert tomorrow the first meeting of the year jerome powell and company will begin deliberating the january

interest-rate move, let's be clear the committee is expected to leave rates unchanged fed's fund show a 97% odds of no cut but powell is likely to face questions at his press conference on president trump's pointed demand last week that the fed cut rates again. i would begin independent institute senior fellow judy shelton during president trump's first term she was one of the pick to serve on the federal order of directors, welcome back to the showed you agree the interest-rate should drop immediately? >> i think even putting it that way shows the wrong emphasis. he preceded that statement by saying with oil prices coming down that was as big untrue stipulation. he was saying this is entirely consistent intellectually with the fed's own model the whole idea of high interest rates is to fight inflation. energy is a huge component of

inflation so it president trump's efforts to increase the supply of energy brings down the price of energy that brings down inflation, the fed should be all too eager to say is working and now with reduced inflation we don't have to have restrictive rates we can go back to recalibrating in the nominal rate of interest the feds target rate should come down logically. liz: oil is coming down to show it, today about 2% in the regular market aftermarket down 2%, the six-month picture shows oil is down 6% and to me i say oil is coming down hence when he says when oil comes down we should cut rates immediately, oil is coming down over the past three years down 12% since the ukraine war launched down 20% read why is that looking at it in a way that is not correct is

he or is he not soon we'll prices are coming down let's cut interest-rate. >> i think is entirely correct and i think it's consistent with the supply-side economic growth agenda and really it's basic economics of supply and demand if you increase supply, the price should come down, the problem with the fed model is all they feel they're capable of doing is raising interest rates to cut off demand and they admit that will hurt economic growth and cause unemployment but in fact what president trump recognizes is a lot of people working with low unemployment and a productive economic growth is totally consistent with low inflation because your increasing output in your bringing supply into performance with demand by increasing the supply so than the demand does not cause inflation. i think that's really a much

better model in the fed should pay attention to that reasoning. liz: you're not the only one that felt that way there are certain things that people look at and say we're out of fed funds rate that was quite close to where we were when inflation was at 40 year highs we're not there anymore should the rate come down but i'm interested to know which side that you fall on when it comes to the fed's belief and particularly jay powell has been that the fed is apolitical and should not be beholden to any politician or any president that they should be independent do you agree without. >> is not a matter of being beholden i think when the argument gets silly talking about federal reserve independence it is to say would you listen to president trump and i don't people think the fed

should be no, no, no i'm not going to listen i'm going to follow the direction indicated by 300 staff economist at the fed some of them newly minted from grad school who have been not only consistently wrong in making predictions but also 10 . i think you might be interested in the opinion of someone that's not only president of the united states but has been resoundingly reelected to that position. >> let's talk about inflation were getting a big number on friday as you know pce, the personal consumption expenditure of inflation rate for december is coming out friday that to me is the fed's favorite we look at this and it matters, november it came in at 2.4% that was below the 2.5% forecast. are you okay with changing the

basic rate of inflation because the target rate is 2%, should be a little bit higher? >> i think the target rate should be 0, the fed's mandate says there to facilitate bringing about stable prices not stable inflation not even low but stable inflation. it is supposed to be price stability, that implies 0 inflation. in the fed has discussed what it has met and alan greenspan at one time said i think it means 0 inflation. i'm on a whole different end of the argument. >> any overture from the current administration for a position for you? >> i would not say anything and i'm very honored. >> i appreciate that and i would be very eager to say so if and

when the opportunity arises. >> let's see if the second time is a charm we will be watching, please come back. >> thank you so much good to see you. the deepseek drama is slamming the a.i. sector still. we have 28 minutes left to trade what does it mean to all the silicon valley and silicone venture capitalist who were planning support huge amounts of cash into artificial intelligence startups this year, carter ream is one of them the m13 cofounder has been one of the top vcs in the nation he will join us live in studio and a fox business exclusive this is a rare interview. we will ask him are you still ceding startups that are focused on a.i. and does this situation scare you?

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liz: 28 minutes left, no 12 minutes, sorry this whole thing has been nuts, 22 minutes left to trade. get nvidia this is no laughing matter it is responding to all the actions were laid around chinese deepseek is down 70% but deepseek is the thing that triggered the selloff today and not just nvidia a whole tranche of a.i. related stocks but pretty much most of the nasdaq the company spokesperson sent me this deepseek is an excellent a.i. advancement in a perfect example of test time scaling deepseek illustrates how new models can be illustrated using the technique leveraging models and compute that is fully expert control compliant here is the key inference requires significant numbers of nvidia gpu and high-performance networking meaning if you're thinking about it they needed

nvidia chip the selloff of trying to say is a bit overdone, the destructive potential deepseek appears to have a cheaper better.pot is turning the nasdaq and ar related stocks upside down let's check the index 60747. off the lows of the session were around 749-point there is a winner and we bring this up because we want to show you a chinese company a rural mobile soaring to the moon 132% after the big data solution platform revealed the a.i. agent is integrated with deepseek are one language model but this is one of a few that are dodging the follow-up as investors flee one of the top venture capitalist in the country is not fleeing m13 cofounder and partner carter ream the firm was named a top four performing venture-capital firm at the last decade by dow jones he joins me in a fox business exclusive, wall street is losing his mind

over deepseek, are you. >> not at all were in the early innings of the a.i. revolution and this is like other innovation cycles this one is steeper. i think we have seen literally almost the course of every week somebody is coming out with a new model or innovation so i think this is par for the course when it comes to the most innovative companies. >> what is your assessment the fear if i read the minds of investors who are selling off everything that is a.i. related is basically some chinese outfit that very few people heard of has come up with a way to create a very smart chap bought that actually explains its thinking before it gives the response to the prompt that people have. we already showed at the top of the show they won't explain thinking or attacked questions about xi jinping or china that's a whole different issue. but with that said what is the fear and why are you nervous. >> obviously we invested the most innovative early-stage

companies we have companies using a.i. disrupt customer service or polymorphic for local governments walk. i think we take a much longer time horizon all in a in the early innings of a very steep adoption curve and very steep disruption curve and what different the past innovation cycles you have the smartest innovators competing with the largest companies to all try to go with the puck is going, tomorrow there will be something new and next month and next year but were in the early innings of what's going to be very disruptive. >> i was looking at one company called cat labs it is a startup has building tools that fight crypto and a.i. enable crime it is turning a.i. against the bad guys who are using a.i., that said how do they get their money, how does the startup grab the money from you one of the top venture capital firms. >> what we look for his

tremendous founders with an unfair advantage or expertise of space in a huge addressable market when you think about the amount of crypto and things like that i think this year we will see a ton of convergence of a.i. and crypto so all of these are coming together but at the end of the day you have smart people solving a big problem and hope they can navigate along the way. liz: tell me about crypto how do you see it going a huge run a postelection. >> it's funny how these work, nobody was talking about of the last few years and all of a sudden the new darling we've been investing consistently the last few years, i think you're going to see the convergence of a.i., crypto company all is doing just that and i'm guessing a lot more will but i think you were on and the fcc is thinking about. i think there's no doubt this will be the year of the meme coin another innovation that are built on top of the block chain.

>> you don't see any concern of meme coin selling the reputation that crypto and bitcoin have worked so hard to gleam. >> i think it is definitely a valid concern and what people need to understand is the meme coin is a new expression of community and things like that. again were also in the early innings of that, to bd i think i see a lot of innovation. >> you not just competing with other vcs you are competing with nvidia and microsoft and all the huge companies that put together their own venture-capital funds, intel have theirs for 25 years i've been covering what they seek money into but how do you decide they are bidding up too expensive for me to get it, are you discipline. >> that is what is ironic we were continuing to invest in crypto related technology the last few years because they were less expensive and there was less heat on them, today everything is gone expensive,

you think about a.i., there's so many venture capitalists going after the same deals, they get very expensive and we gotta think about that. >> is old and a, b, c getting obsolete and is the ipo yesteryear are you okay if you have a startup that nvidia wants to scoop up for a lot of money. >> what you see every adoption curve is building on the last so the scale of what the high flyers and a.i. right now are getting to is faster than ever, the rounds are all spendable now, companies are scaling faster than ever if you're seeing success in we will see what the ipo market brings this go around but you will see a lot of m&a companies that are on a fast trajectory you will see big guys looking to acquire them to hyper scale. >> we've seen big guys in the little guy i know you're a california resident lose their homes hundreds and hundreds of

people, i am from los angeles. i was just there and i'm sorry you lost a home in malibu. i will say you and your wife paris hilton have been heroes when it comes to rescuing animals who were burned and homeless in pasadena. how do you wrap your mind around what happened. >> it's hard to get your hands around the devastation in los angeles. i'm always so proud of my wife paris she talks about turning her pain into purpose and we lost the house but we realize where we are the luckier ones and immediately she went into action and raised a million and a half dollars and was putting people in hotels, volunteering at the humane society in pasadena. i think all of us if we all do our part is going to be a long few years and a lot of rebuilding but is the power of compounding if we do it we can. liz: absolutely, great to have you. carter ream thank you very much on a crazy day, you are not cutting and running.

>> we will invest in the best innovators and we will see what happens. liz: maybe you can get bargains of others who are more fraidy cat then you get rid of their investments. the fate of tiktok is really perplexing, check creators followers and folks that want to buy as a deal will be largely upon bright dance deciding if they would even sell it to a would-be buyer, what is going to take, charlie gasparino housebreaking details next.

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♪ ♪ liz: don't miss that interview tomorrow with palmer lucky and the drum company. it's huge right now. as the white house works on a plan to save tiktok and is still vetting potential buyers, don't believe it when you hear that everything is set. it's not. bankers say the biggest hurtle has not been overcome getting bytedance's tiktok and the chinese government on board with any potential deal to sell it. just how long could that take? charlie?

>> so with the state of play, there's tremendous amount of conversations in the white house and tram made it -- president trump made it sort of a priority, there's even talk about a u.s. creating a private -- sovereign wealth fund and trump floated this in the past and one of the first investments with over private equity firms and somehow that would be the way to buy what the chinese sells to us and it gets complicated and why all this is noise, i mean, you've got to read about dennis -- i keep calling him denny o'leary. what's his name? liz: kevin. >> kevin o'leary and frank mccord, who's a billionaire in there and kevin has spoken with trump about this and going to read about larry ellison going back to the game plan one for trump. remember, that's initially going to go back in 2020 and getting bytedance out of the hands of

oracle and running the application and going for microsoft for a lot of reasons and they have chinese ties in particular so he was worried about that. trump was at the time and everything is kind of being spoken about except for the one thing that you need this. and you need the chinese to sell and not going to sell the cal gather rhythm and they're selling the name, the brand, the users maybe. it's a very complicated thing and liz, the betting i have and listen, i'm not saying this is like 100%, but it's just like a betting from people inside the trump administration and people that is going for this publicity level and people from the outside and going to happen and going dark in a few weeks and thinking about that and the

complex with all them doing mna and doing due diligence and going for criminals and you're going to get your money, money is transferred and takes long for that 75 days and you have to convince president xi of china. liz: who even thinks that xi is going to bend to the will of anything. and it's going to be part of this. and if they don't sell you the algo, this is bigger than tiktok in the u.s.. >> this is a global product and getting someone to come in and do their on algo. that's not cheap and that's better than the brand and on top of it all, this is going to take a level of diplomacy and all the stuff on president trump's plate, i just wonder in the end, is this the thing that gets lost in the shuffle and next week is a huge week and in terms of de-banking and something known as de-banbanking and it's huge r

trump and talked about it in davos and i was there in davos and jamie dimon and brian moynihan on the spot saying you de-bank conservative and they turned around and said we won't. there's certain rules we have to follow that were very strict under biden administration. you have to loosen those rules and that's going to play out next week. this is a huge story coming to crypto and president trump will spend more time on this thanksgiving than tiktok and de-banking of crypto people and it's really when you talk about rubber meets the road, that's a policy and more. liz: benjamin netanyahu coming next week. >> ukraine, he wants to fix the situation in ukraine and there's a lot going on. tiktok. liz: charlie is back. we're all session lows and going tomorrow. liz: oh, we are off session lows but for the year, the nasdaq is now up fractionally. you know what, it's kind of

getting close to barely, barely moving higher. that's for the year. granted the year is barely a month old. wall street's fear index and we've been watching this and this whole deep six situation and the chinese chat bot that's been developed and suddenly gleaning all the attention sparked a bit of panic and it's -- we have vicks up 23%. that's a pretty big move. it means investors are a bit rattled by the fact that somehow these chinese chat bots were created and supposedly very good without all of the billions of dollars that others like openai and chatgpt have been spending. so what's working and look at this three minutes before the closing bell and the sectors for deep for. david, i was notice that had consumer staples look healthy and chinese stocks look gad today and why you like consumer

discretionary. >> i like consumer discretionary and consumer cyclicals because of the theorem we're in right now. we know that president trump will juice the economy through tax cuts and spending and we're looking at the economy to continue ripping in the cyclicals and going for the discretionary doing well. alift for the last 11 years, he was named bare ron's top 25 -- barron's top financial advisers and you've been on for many, many years. when you see a selloff like this today, are you buying anything on the cheap? >> yeah, i think there's going to be opportunities that are oversold like nvidia and some related stocks and we're seeing opportunities and we know that

ai is a technology that's important for the healthcare industry and seeing healthcare stocks up today and fire fighting financials have yield curve and more on the is to bees. liz: can you give me a sense of what you feel, not tomorrow but it's widely expected for the fed on wednesday announcing it has left rates unchanged and it'll be a pause for the first four and last three meetings cut rates and think that's an appropriate move? >> we may find it's a policy error and the 100 basis going for them and it'll be a long time before they make another move and that move very well could be to raise rate as bit hire going back to what we think with the economy this year with president trump and his

initiatives for this stimulus and right now the monetary policy is easier into still heightened inflation. liz: never a dull moment around here, that's for sure. thank you, david. folks, here comes the closing bell and note, on the dow jones industrials, the gain 280 points considering the dow gap down this morning by 39 p points and it's a pretty interesting come back but the deepseek selloff crushed the nasdaq and closing down 3% and see what happens tomorrow. larry: hello, folks. welcome to kudlow. i'm larry kudlow. president trump started using the tariff weapon. we have an exclusive interview with kevin hassett and brand new director of