philip morris threw a party for him and at that party, the president of philip morris gave lewis a black jurists robe, you know, a supreme court justices robe. now, philip morris owns a whole bunch of companies right. they own kraft foods and they own dozens, hundreds of companies i suppose i don't know now and i don't, i'm not sure what it wasn't in 71 or 72, but owned a bunch of companies and robe had nascar patches over it with the logos of all these companies. the philip morris owned with all the brands of cigarets that they owned i mean, it's just like there's chapter in my book and i didn't know the by the way, when i wrote the chapter in the book that's titled members of congress should wear nascar patches. you know, it's like, holy lewis paul did so anyhow, in 78, lewis poll authored a court decision and at that time there was a law in massachusetts and there were similar laws in states all over the country that, said that corporations could not spend money on politics unless they direct, unless there was issue that directly involved the corporation. if you had a ballot measure,

also keep an eye on philip morris. it is quietly rising to an all time high, dating back to its spin off from altria back in 2008. barclays noting this morning we are in the early innings of a generational shift towards nicotine investing. more on that trend later on. let's start, though, with the first cabinet meeting of the second trump administration, with a special appearance by elon musk warning america will go bankrupt without spending cuts. eamon javers has more from the white house. and eamon, not sure if it was some of the uncertainty around tariffs that's contributing to the sell off this afternoon, but plenty of headlines. >> yeah there was a lot of talk about tariffs in this cabinet meeting kelly. president trump says he's made up his mind for tariffs on the european union, which he said he'll be announcing soon and which will generally be 25%. that seems to be in line with what he was talking about in terms of reciprocal tariffs with other countries around the world. we'll see if we can get some more clari

jpm new 52 week high philip morris walmart. we were just talking about that with mahaney.alantir has been a rip. goldman sachs robin hood by the way with a new 52 week high today in the etf. why is momentum do you think performing so well i. >> think there's. >> a lot of reasons. one is that these are the companies. they're not all the mag seven right. and i think there is. >> far from it. there's it's so dispersed. i mean, insurance retail finance. >> and that's what i think. like there's actually still capital that can rotate into these names. and that's why the momentum has been going. i also think that there's part of the market that just that's how they invest. what's going up will continue to go up. and a lot of these names have had really good earnings and are hitting on some specific needs, like a consumer that needs cheaper products. for example, in walmart, you know, banks are probably not going to get as much regulation as they maybe once were going to expect. and then also, you know, the spread between tens and twos are going to continue to support their busine

frank, if i would have said to you that philip morris or cvs would have been among the best performingtocks here in 2025, you would have probably said, i don't think that's the case. >> all right, we gotta get going. i need a quick answer on this. according to your research, in this third year of the bull market, small caps actually outperform as you go to the back end of the year. we were talking about small caps on the show earlier this week. do you still see that same setup when it comes to the russell? >> i do. it's been a little bit of a rocky trade here at the start of the year, but i still think that the russell 2000 is going to outperform the s&p 500 this year. and again it's a it's a bold call. but i do think it is going to play out. >> you're a bull guy craig. that's why we love having you on the show craig johnson great to see you as always. thank you very much. >> thanks frank. >> all right. turn our attention now to capitol hill and the house moving one step closer to making president trump's scaled down budget a reality. alice barr, nbc news. she's in washington with the

. >> then philip morris, another company with big

. >> so we're not including tobacco stocks like altria philip morris.e they're anti-semitic. >> no. just because in terms of jewish values, we think, again, tobacco just doesn't align with where adl is. >> okay. >> but i think because of venezuela. >> venezuela and the oil sands and such. but the. >> worst one. >> one of the worst kind of companies in terms of. >> emissions dirty. but but what about other. what about other fossil fuel companies? >> no, no, no, we're not excluding fossil. >> fuel companies. >> but but i will note general mills is one that we're excluding. >> okay. >> why? because general mills was pressured by bds activists and pulled their pillsbury division out of israel altogether. they felt like it was better not to have to deal with, you know, the hooligans masking themselves. just get out of israel. % yeah. in the country where there is a massive pushback on esg. yeah. on dei. you have almost every company in the country practically removing any kind of dei program. you have, you know, folks like robby starbuck out there who are go