tv The Claman Countdown FOX Business March 31, 2023 3:00pm-4:00pm EDT
[laughter] okay? not everything is seeing, of course, that kind of price appreciation, but let's face it, inflation adjusted everything is more expensive except for maybe a tv set. now, there's blame to go around, but it's also in my mind a further indictment against the federal reserve which was created to stop stuff like this, right? so my message to everyone out there, particularly young adults, there's nothing you can do to push back against this. yeah, you can sue ticketmaster and all that sufficient, but make as much money as possible. earn and save, and at some point make sure your money's working for you so you can go to the hot music concerts in the future. lauren simonetti knows exactly what i'm talking about -- lauren: i'm going tonight, charles. you got me on that one. my earpiece fell out of my ear. happy friday, everybody. it is a happy friday on wall street. solid rally on our hands. as you look at a live picture right now, screen right, that is mar-a-lago. former president donald trump's residence in florida, he was
indicted last night by the manhattan d.a., alvin bragg. trump is expected to be arraign ared on tuesday the right -- arraigned on tuesday right here in new york city. that is the big news story of the day and screen left is the big market story. take a look at the nasdaq. it's at 12 the,170. it needs to finish higher by 242 points today to potentially exit a bear market and launch into a new bull market. the tech-heavy index is up almost 2,000 point points since its low, 10,213, that was back on december 28th of last year. but it is not just the nasdaq, all three major averages are higher this week. look at that. 3% gain for the broader market. check out the month. the nasdaq can gaining over 6% in the month of march, and is we're watching the quarter end very closely. yes, the nasdaq and, yes, s&p pill -- firmly in the green, but the dow needs to finish higher by 288 points to turn potts for
the year and the quarter -- positive for the year and the quarter. all that even with the banking crisis, you kind of just scratch your head. look, the focus for odd to was inflation. if you look at core pce, that's the preferred inflation gauge for the federal reserve. it did rise by .of 1% -- .3 of 1% in january, cooling sharply for the months, and stocks just ran wild. with that, let's bring in the floor show is, steeple financial, steeple's chief economist and managing director, lindsay by yenning saw, thank you for joining us. >> thank you for having me. lauren: is it really just a cooler inflation read, or do you think it's something else? >> oh, i think it was a combination of things. i think it was, in general, a pretty solid data day. we saw the latest read on consumer activity showed while consumers have pulled back somewhat, they're still spending out in the marketplace and, in fact, they're spending enough that we should be able to continue or eke out at least some level of positive growth at the start of the year, meaning
when we get that q1 gdp report. we also saw more favorable data in terms of income, even adjusting for inflation we see that real income growth was in positive territory. and then you put all of that together with a more favorable inflation report. now, i want to be very clear, inflation is still very, very high, but we have resumed that downward trajectory, albeit at a very painfully slow pace, which has given the market a lot of optimism that the fed will be able to eventually reestablish price stability and pull back from this tighter level of policy. lauren: just to push back on your comments on consumer spending, or i'm pulling from your mote from steeple, adjusting for inflation which you know is painfully high, real consumer spending declined by a tenth of 1% in february. there's this feeling of frustration, and is you just can't get ahead. >> oh, absolutely. consumers are feeling burden of
higher levels of inflation. but again, remember, that's a monthly, month over month change. on an annual basis, even adjusting for inflation on a real basis, we're still talking about 2.7% growth. now, again, putting that in perspective, that is a marked reduction from where we were just one year prior. but for the market that just as, to to your point, made it through this tremendous period of volatility in terms of the banking sector was cherry picking any sort of indications of more positive territory ahead. and that was enough from the consumer. lauren: yeah. and that makes me think of the nasdaq up, you know, at last check 16% this year. let me bring in keith fitz-gerald, fitzgerald group principal. he's joining us now on the phone. keith, good to the see you. i'm looking at some of your picks, apple, microsoft, nvidia. nvidia. >>, keith,st the up 89% this year. please tell me you bought it a lot lore than that.
[laughter] >> i did. i hate it when that happens. you know, it's very tough business, and we were very fortunate to get in at the right time. i've been buying throughout most of the decline a little bit here and there. this is great to see because all of capital's coming back to the marketplace, people are figuring out the contagion they thought wasn't. so, yes, there's still speed bumps and challenges, but tech is going to go right back to the head of the class because it's one of the single greatest investing trends of our lifetimes. lauren lauren where do we go beyond tech? you look at the advanced decline line, and it is widening, so where are the -- where should you be invested in this market? >> well, to me, it's common sense. you know, what can we not live without? cannot live without fuel. that's been beaten to smithereens, so we're going to need defense stocks, medical stocks, abve in particular is another one that i own, but it's a great choice because of immunology, all the work it's doing in those spaces. lauren: okay. lindsay, let me bring you back
into this conversation here, and i want to turn your attention back to the federal reserve. you know, i'm looking now, the market's pricing in a 53% chance that the fed hikes another 25 basis points next month when they meet and then, i guess, a cut is expected sometime this summer. where do you stand? why is it always the guessing game? >> el, i think the -- well, i think the market is overly optimistic that the fed will be able to control inflation. as we just talked about, inflation is still more than double the fed's preferred level, that target range of 2%. so it seems unlikely that just another 25 basis points is going to get us to that sufficiently restrictive level that the fed has told us is needed in order to slay that inflation dragon that's been lurk aring around the corner for quite some time. so while market is optimistic that we'll only see one more rate increase, if that, and then a cut to follow suit, i think it's going to be a lot more complicated for the fed likely having to raise rates still higher from here and potentially
keep them at that the higher level for longer if we see supply side issues continue to keep the inflation level elevated. lauren: and in the process, they might break things, keith, and some believe they already have if you look what's going on with these regional banks and the sharp rise in interest rates. and the other thing they might be breaking is the job market. keith, we get the march jobs report one week from today. >> well, we do. and to lindsey's point, this is interesting because i think the fed has been so far off the mark all the way along through this process, and lindsay makes a spot-on point that i share. they are not going to be able to pick -- fix it. the job market in particular is going to be a thorn in their side because companies are still growing, they're still expanding. they're just changing the competition the of that labor force. so i think the thurm that we're going to affect, the top line number is misleading. there's still lots of growth, it's just not in areas that people traditionally cite.
lauren: we're just getting comments now from the new york fed if president, mr. john williams, and he's saying these stresses in the banking system will likely lead to tightening credit situations going forward. and, you know, i'm looking at this major rally that we have on our hands today, the dow is up 305 points, just 10 points away from the highs of the session. the nasdaq is surging by 1.5%, 171 points. that is a new high of the session. and then you see comments from a fed official, and, you know, lindsay, you say, well, what gives? how is the market maybe not responding to what our regulators are seeing and saying? >> well, i think there's some confusion about the level of policy firming needed. if, in fact, we do see the recent volatility in the market translate into a significantly tighter level of credit. and so if we see organic conditions change in the credit market and do do maybe 50 basis points, 75 basis points of the fed's work, then maybe we don't
need to raise the nominal level of -- on the fed funds rate quite as high as previously expected but still getting that outcome of total firming up near 6% or higher, that level needed to quell inflation. but i think there is some misunderstanding or lack of. communication between the market and the fed with exactly how high they're going to need to raise rates in order to get inflation under control and continue to convince the market that inflation supersedes concerns about market volatility at this point. lauren: and you agree with that, keith? >> well, personally, i think they should take away the microphone from everybody but the chairman. but, yes, i coagree with lindsey. lauren: keith, final thoughts on the market as we enter second quarter next week? >> the worst mistake an investor can make is underestimate the future. pay attention the, hold your nose and is wade in. lauren: all right, keith, lindsey, happy weekend.
thank you for the time. >> thank you. lauren: and speaking of these astonishing year to date performances, c3ai, it's been on a rocket ship this year. st the up, check this out, look at that chart. year to date it is up about 1 is 80% as artificial intelligence grabs the news headlines. and a.i. is stepping in to help restaurant owners hungry for help amid labor shortages and inflation. the a.i.-powered self-ordering kiosk company grubber is next. how they're helping restaurants cut costs and the high profile partner they just got onboard with. the restaurant and possible star and celebrity the chef robert irvine is here. he joins us next along with the ceo of grubber, sam zeitz. "claman countdown" coming right back. ♪ ♪
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lauren: let's get you some breaking news. california and three other states joining the justice department's lawsuit aimed at preventing jetblue from buying spirit airlines for $3.8 billion. spirit airline shares are fractionally lower. jetblue is still up by 1.75%. well, stubborn inflation, it's eating into restauran9.7% . so how can restaurants survive that? those higher costs and grubber. it uses a.i.-powered kiosks and automated checkout machines to the make ordering food more efficient. grubber just announced an exciting new partnership with celebrity chef robert irvine to use their tech in the his restaurants. robert joins us now alongside grubber's ceo sam zeitz.
gentlemen, hang for coming on. robert concern thank you for coming on. robert, how does this work? how will this work for your restaurants? >> well, it's really great -- first of all, thanks for having us on. if you think about it, grubber's self-ordering solutions, if it hits restaurants in three particular critical areas; driving revenue by its upsale technology, creates operational efficiencies, so it's really taking, doing more with less, if you like. it improves the customer experience, and we all know that inflation, you were just talking about inflation, how it's hurting costs, it's driving salaries up. mom and pop operations, mid-sized operations, this is going to be a game-changer no matter what size of a business you are because we can't afford the $15-20 labor charges that we're having. you know, it used to be an easy fix with inexpensive labor. it's not anymore. that's where the. i. and technology really comes in.
lauren: sam, come in here and put some numbers and dollars on this. how much does cost a restaurant on average, and how much are they saving? >> well, a typical restaurant, as robert just stated, is paying, you know, $15-2 the 0, 22 or more in california, per hour for a cashier. so by eliminating the need for the cashier, you're typically saving upwards of $6,000 a month in labor. you're also helping the restaurant increase their revenue by being able to provide additional options that resonate with the consumer. you typically increase that revenue by 10-22%. for the cost, you can buy a kiosk like the ones on the side of me for $2500 retail, and the service is less than $200 a month. lauren: but, sam, what happens when they break? [laughter] >> well, a lot of the tech here is made by well known companies
like samsung, so they do hold up pretty well. generally speaking, you're putting more than one unit in the restaurant, so even if somebody came in and took a bat to one of them, you have a backup and you can replace it. generally speaking, these things hold up, they're pretty durable, and the software is very, very intuitive so people know how to operate it without instruction or direction. lauren: yeah. just want to break in quickly because we're looking at the market that's just flying higher. and with this gain, if it holds in this final hour of trading, the dow could also be positive on year. all right, got that over with. robert, back to you. as a customer, i sometimes get annoyed that i have to use a self-check machine, kiosk to help myself when i go into a place where i expect service. >> well, it's give and take, right? i just want to go back to one of sam's points there. you know, we like to use
technology. through covid we have changed to technology. the young generation are instant gratification, so they're already used to this. it's coming -- technology is coming whether we like it or not, and you go to airports, i believe, right, you fly on planes. when you go to an airport, you use an ipad. you don't have a human being serving you. this technology is not going to replace human beings. what it's going to do is actually allow the restaurant operator or the hotel operator to take that labor that they have and move it to another place. these machines don't call out sick. human beings call out sick, and that's one of the biggest problems we have in our industry, is we don't have the people to do the jobs. so while you may not like to use a kiosk, you're going. to use a kiosk in the future just because of by osmosis we don't have the people necessary the to do these jobs. lauren: okay, or i guess. you're basically forcing technology down my throat, but i get it, i get it, i get it. [laughter]
i'm a little behind the times. >> the hospitality industry is 20 years behind the times. lauren: really? >> you know, absolutely. lauren: the hospitality is 20 years behind the tech times that we're in? >> absolutely. and, look, i do a show on f, "restaurant impossible. " i wrote a book talking about the how technology is changing our hospitality and our experience. remember, we go out to restaurants and we stay in hotels and go to to locations because we want an experience. we want a great experience. but we're not willing to wait for that experience. and if we have labor shortages because somebody calls out sick or a baby or their husband, whatever, you're not getting the service that you're paying for. this technology, the grubbrr and samsung have come up with, it's out of the park the future of everything from hospitals, doctors, retailing. any consumer product, this will be the forward-facing i.t.
lauren: robert, can you right now tell me that you're not afraid that a.i. and robots and technology are not going to the take over your job as a chef in the back of the house, sweating and working hard in the kitchen? >> i can tell you looking at you wholeheartedly through this computer i am not afraid. it's only going to to enhance our ability to give you an experience that you can never get. look at -- if we look at planes, look how they involved. everything has to evolve. and our food and beverage industry is doing the same thing. and if it doesn't, those restaurants won't exist. look at what covid, and i go back to covid again, we had drive-throughs, we had to pump your trunk up and let somebody come and put food in. we are changing, and grubbrr is at the pore front of that changt change, believe me. lauren: sam, final words to you. >> are you more annoyed dealing with a self-ordering kiosk or
more annoyed by standing 20 the deep in a line or the pact that your favorite coffee shop is closed because they don't have enough access to labor for you to the even be able to get your coffee? lauren: fair if question. >> that that's the issue that's actually being presented right now. this isn't a matter of are we replacing labor. there is no labor there, right? and what we're able to do is now take the remaining labor that's working the back of the house and be able to pay them more money while allowing the restaurant to make more money and not have to pass those high prices on to the consumer, combating inflation. lauren: you know what? as i'm summing up this conversation that that we're having, i'm hearing the sense of frustration that you have both taken in as being at the forefront of your industries. this is the solution. there is no labor, and the has by hospitality industry is decades behind. robert irvine, sam zeitz, sounds amazing. good luck, good to see you.
>> thank you. lauren: well, from food to phones. flip phones, that is. general, anders -- engen zers are exchanging their smartphones for dumb phones. up next, why the younger generation is trying to kyl back their phone use and smartphones are the latest topic on my we're momminged today podcast. it drops tomorrow on apple podcast, spotify or wherever you listen to your favorite podcasts. we're going to feature fox news' gillian turner. she goes in depth with her teen girl mental health crisis series. it has gotten so bad, the cdc says one in three teen girls have considered suicide in the past year. and screens, believe it or not, are a big reason why. on wall street stocks at session highs as we closy 1.1. it's a 1.25% gain for the s&p and a 1.5 gain for the
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with an aarp medicare supplement plan from unitedhealthcare. [dogs bark] winnie! look at you! thanks again for looking out for me. hey, we're in this together. an aarp medicare supplement plan from unitedhealthcare. smart now, really smart later. lauren: fox business alert, take a look at the markets. they're surging. session highs as fomc voting member and new york fed president john williams says gdp will soften modestly this year. those comments perhaps a allaying those hard landing recession fears and sending the buy signal to the bulls, and buying, they are.
not micron, however. micron shares are lower. chinese regulators said they're launching a preview of the chipmaker's products sold in china. authorities said the move is aimed at maintaining national security and preventing america security risks caused by hidden product problems. micron reported over $3 billion in sales in china last year. that stock down almost 4%. jenner act, the generator folks -- generac -- losing power after bank of america cut the stock to underperform. the investment bank is concerned about a hard landing's impact on generac's sales to residences, home sales. bank of america also lored its price target by $50, they say it's going down to $91. virgin orbit aborting operations after failing to secure meaningful funding. richard branson's rocket company is laying off 85% of its work force next week. they've been trying to secure additional funding for weeks now. that stock's just 20 the cents.
investors putting the brakes on nikola after the ev truckmaker or saidst the planning a $100 million second care stock offering at a 20 president discount from yesterday's -- 20% discount from yesterday's closing price. even with the discount, there's little interest in the company. nikola's or lawn of. ing a hydrogen-powered fuel cell truck later this year. no one's convinced today. blackberry saw shares, pull them up, up 15%. mixed results for the fourth quarter. they reported a quarterly loss, missed analyst revenue estimates for the quarter, but td securities comes out and upgrades blackberry to hold, and they raised their price target on the stock to $4. however, it's at $4.61 now. but could the blackberry-style phone make a comeback? the early 2000s are calling, ask younger generations are trading in their smartphones for
dumb phones, aka, the flip if phones. you know you used to have one like the razr. the younger folks want to cut down on screen time. don't we all in. >> the new trend is becoming popular among the gen-z crowd for mental health reasons. madison alworth joins me now with more on this and this movement for mental health. and, wow, kid you, like -- >> reporter: i brought all of -- [laughter] lauren: -- ransack your dad's drawers? >> reporter: yeah. we're talking about this trend. yeah, it's amazing, so much nostalgia here. but for some it's actually happening, right? right now about 5% of cell phone sales in the u.s. are flip phones -- lauren: really? 5%? >> reporter: yes. now we're calling them dumb phones, okay? experts say it could grow another 5% in the next five years, so we took to the streets to see if people were open to moving backwards. do you think you'd be interested in going back to the flip phones? >> yeah, i would love that this.
separation, yeah. [laughter] >> i hate phones. so, yes. [laughter] >> being just connected would probably drive a little more attention to personal matters, but thames, it creates efficiencies. >> reporter: overall, i got a bunch of people who said they were interested, but no one i spoke to the actually had a flip phone to pull out and show me. in fact, most of the people were too too invested in the their phones to even audiocassette to me. [laughter] talking -- talk to me. >> reporter: we're talking about -- hi, do you think you could give up your smartphone? i think that's a no. do you think you could give up your smartphone? [inaudible conversations] [background sounds] okay. so it's not me. that obsession is part of the problem and experts in the industry say we are at a turning point. >> it's very hard when you come from a society or an industry where it's purely based around
the more you can get you to use, the longer you can stay on our screen i'm the, the better it is for us financially, and as i said, consumers are seeing through that now and going, no, i don't want it. enough. >> reporter: so flip phone sales kid go up last year in the u.s. who knows, the razr, this was my dream phone in high school that i never got to have. so maybe, maybe this could be my phone soon. i'm clearly addicted -- lauren: it's smaller. >> reporter: it's smaller, the satisfaction of that click. lauren: so when you say dumb phone, you mean a phone that's not hooked up to the internet, therefore, not hooked up to social media? >> reporter: right. most of these phones, i remember if you accidentally pressed the internet if button the, you had to quickly exit out because it was such a high rate. some of them had minor access, but you don't have google maps, you definitely don't have instagram on this phone. lauren: okay, people say they could live without their smartphone, but i caught it
because how would we get anywhere? >> reporter: yeah. we live in a city that is pretty dependent on other people driving us around, right? so if you live somewhere where you don't have to call a cab or uber, you could get around. you might have to print out mapquest, remember that? because this phone is definitely not getting you on google maps. but there are ways to get directions without the phone. that would probably -- lauren: your next story should be do not even a week, a weekena work day. try to do two work days in a row without a smartphone. >> reporter: i think, you know what? i can do it. i don't know if work would be happy if i'm out in the field somewhere, and they're trying to get hold of madison, where is she? my land line's back at the hous- lauren: you have a land line? >> reporter: no. i haven't had a land line in the many years. lauren: that was awesome. thank you very much. ask for a pink razr -- >> reporter: yes. mom and dad, please. lauren: california creaming turning into a nightmare -- california dreaming. we're going live to a not so
humble abold as homeowner99 -- a abode as homeowners get ready for the mansion tax that takes effect tomorrow. then we're taking you coast to coast as the mother-daughter real estate duo dolly and jenny lens give us a look at new york and florida housing markets right after this. ♪ ♪ you'll always remember buying your first car. and buying your starter home. or whatever this is. but the things that last a lifetime like happiness, love and confidence... you can't buy those. but you can invest in them. we believe that your investments should work harder for the future you imagine. and that's where our strategic investing approach can help. t. rowe price. invest with confidence.
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lauren: starting tomorrow los angeles luxury homeowners will get hit with a big tax the when trying to sell their home. the 4% so-called mansion tax will apply to property sales above $5 million and a 5.5% tax will be applied to sales above $10 million. luxury home sellers are slashing prices, sweetening deals as they try to close before tomorrow. kelly o'grady is live at one of those mansions in bel air. it's $28 million but, kelly,
that wasn't the original price. >> reporter: no, it wasn't, lauren. it was actually $30 million. so already you're seeing a $2 million haircut. but like you said, it's a stunning property many bel air. it's actually owned by dr. paul of the tv show botched. but this home has a million collar bonus if a buyer's agent can come in and close before the tax takes effect tomorrow. anything above $5 million is going to incur a $4% tax to be paid by the seller. $10 million plus, you're looking at 5.5%. this applies to both residential and commercial properties, so office buildings as well. it only impacts the city so places like beverly hills and malibu are exempt. but it wl affect this property. one bathroom, by way, i think the i could live in and be happy. but $20 million, that means the seller is going to the lose out on $is 1.5 million of the sale
proceeds. this is really going to squeeze the folks on the lower end of that tax. i know it's hard to believe, but $5 million doesn't always buy you mansion in los angeles. we spoke to international realtor tomer friedman, and he shares why some homeowners are going to struggle. >> the original owner would not have the funds to a pay the tax because they did not start off with having, you know, a multimillion dollar house. the original ownsers -- owners that have own houses for generations or decades, i think it's going to be a tough pill to swallow. >> reporter: now, the tax is expected to drive $900 million annually to address the city's homeless crisis. a big worry though is california doesn't have the best track record regarding budget efficiency. going forward though, the inventory may go down because some sellers may say, you know what? i just, i don't need to sell. but we're also hearing that there's a lot of foreign buyer interest in the l.a. luxury market, so he told me it could actually balance out once this
tax takes effect. but, lauren, i will send it back to you from this fabulous friday assignment in bel air. lauren: it looks like you're at a bar. i'm not sure is. kelly o'grady, thank you very much. i hope you are. laugh laugh -- [laughter] others are sitting out year's spring housing market. realtor.com says new listings fell 20% month from the prior year, and they're nearly 30% below pre-pandemic levels. and while things are looking up when it comes to supply, it might be because older listings are sitting on the market for longer. active inventory, check this out, up 60%. properties are now averaging 54 days on the market. it was just 36 days last spring. what does that mean for christmas? as in the spring selling season. dolly elevenz -- dolly and jenny if lenz in a fox business exclusive. dolly, jenny, welcome. dolly, let me start with you -- >> hi. lauren: and everyone's wearing purple today.
dolly's in purple, kelly's in purpose purple, i'm in purple, madison was in purple. what's going on many in los angeles? can you see a mansion ax the existing in any other part of the country outside the state of california and the city of los angeles. >> it's existed for quite a while in new york, and we had that whole story where at the beginning everybody rushed to sell, got nervous, oh, my god, 4%, oh, my god, the end of the world. but you know what? in a few months, everybody had forgotten it. and it becomes seriously a negotiating ool. yeah, it's suppose ised to be a seller expense, but you could push it on the buyer. you know, you deal with it as you go. >> prices come down a little bit. we used to have a 1% mansion tax in new york and then it was based on purchase price, but it does factor in -- lauren: i completely forgot about that, ladieses. thank you for the refresh. jenny -- >> we can't forget. lauren: no, you can't, you can't. and, honestly, if i could afford it, i wouldn't forget either.
jenny, you guys have your finger on the pulse of the new york market and the florida market. what are you seeing right now in both? >> right. well, we're really concerned for the first-time home buyer. the median home price is $424,000 which is still below the june all-time high of $449,000. but it's the still, you know, prices haven't come down enough, you know? mortgage rates are at 6.32% for the 30-year fixed which are down from 6.42 last week and down 41 basis points from three weeks ago, but still they're double what they were a year ago. you have this financial crisis, this regional banking crisis which is causing concern, and you do have overall lapsed supply. so we are concerned about that first-time home buyer being able to afford a home. >> and florida is flourishing, right? prices are up. so that's good news and bad news, right? so for a seller, it's great news. florida's flourishing. the prices are twice as high as
they were a year ago, two years ago. however, for the buyer who wasn't in on that, guess what? they can't afford home now. >> right. miami alone is up 13.# % in january. >> yeah, crazy. lauren: am pa's up, i think, 10% based on the latest numbers. >> exactly. lauren: jeez. it just becomes so unaffordable for so many people. >> it's the hard. >> the west, however, is coming down. seattle, san francisco was the biggest loser at 7.6%. finish so we're seeing their prices becoming a a little bit more reasonable. >> but this spring selling season which is like the all-important season of the year, neither buyers nor sellers, as you pointed out, are happy. right? nobody's happy. the buyers can't buy, the sellers are a little stuck in their homes. so it's a really unhappy time, but we're hoping there'll be some spring sprinkling of something coming down the pike. lauren: dolly, jenny len dis, thank you. >> thank you, great seeing you.
lauren: charlie gasparino joins us next about what high profile gop donors are saying about president trump's indictment and what happens next week. "claman countdown" coming right back. ♪ ♪ the new chase ink business premier card is made for people like sam who make...? ...everyday products... ...designed smarter. like a smart coffee grinder - that orders fresh beans for you. oh, genius! for more breakthroughs like that... ...i need a breakthrough card... like ours! with 2.5% cash back on purchases of $5,000 or more... plus unlimited 2% cash back on all other purchases! and with greater spending potential, sam can keep making smart ideas... ...a brilliant reality! the new ink business premier card from chase for business. make more of what's yours. this man needs updated covid protection. so does she. yup, these guys too. because covid is still out there, and so are you.
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>> charlie, look that this. the dow is up 334 points. don't do it charlie. let's take a live look screen left. that's mar-a-lago the residence of former president donald trump following an indictment by a grand jury ill be traveling to new york. social media, the special purpose acquisition company connected to truth's social app. it's up 7.5%. the indictment remains under seal. but the gop organizers are raising their eyebrows wondering what this means for 20 the 4 and the presidential election he's
in. >> don't arrest me, i'them of -t them off one by one. >> that sounds good, right? >> this will be the circus of the century. some of the least qualified d.a. in the country backed by soros who lets murderers be essentially roam free, alvin bragg is indicting a former president who allegedly paid money, hush money payment to a porn star that amounted to about $150,000 which is $150 to him. one of the witnesses he called is named pecker. i'm just telling you, this is the circus of the century that
we are walking into here. just keep that in mind. amid all that, i'm talking to gop donors. every gop donor -- >> are they calling it a circus? >> no, this is a circus. they believe bragg who is a partisan dem. and not a great prosecutor. he's a hero on the left. >> it's the reason you go into cvs and there is glass put up because he won't arrest anybody for rock a cvs. the gop donor class believes donald trump will get the nomination. and ron de zell sanctimonious as
donald trump calls him. the donor class believes trump's is the least likely to beat could joe biden. i. i don't know. it's such an explosion and everybody is trying to grapple where they go from here. the case sounds pretty de minimus. just a couple odds and ends. from what i hear from the trump legal team they want a jury trial in staten island where your people love him. it won't be like a mugshot with handcuffs, and the secret service will bring him up and back. he will be protected. i don't think it will be a circus when he comes in, but who
knows. >> the police department was told everyone in uniform. >> the donor class is saying they don't know. they don't want donald trump. they don't think he can beat sleepy joe biden. so they want ron de sanctimonious. >> he raised $2 million off it, small donors. but it's chump change when it comes to the big donors. >> if he run, they will back him up. but they think he will use this to the hilt. next week will be the beginning of an insane thing. >> you did the opposite of what you said. the highs from the markets. >> the stock market is up.
>> driving this broad rally across the board. we are green green and then some green. the nads dikes up 206 points. 36 more and we could be out of the bear market. let's bring in our countdown closer. with that we'll talk about netflix. shares are up. reports they are giving movies a makeover combining production units. slashing jobs, and scaling back their movie productions to prioritize fewer but higher quality films. motley fool asset manager shelby mcfadden. why do you like netflix? >> the quality of management. they are doing everything they can to make sure they are maximizing profitability, including shrinking in some areas and opt m -- and optimizin
other areas. they are saying let's try out the different feeds we have been experimenting with and try them in our largest area, u.s., canada and new zealand. what are the conversion rates going to be. how can we maximize our original contents. by and large investors are happy to see that change happening for netflix and see that as a strength. >> can you give me your pick on costco? >> what we love about costco is they are driving their top line. and they are able to do that because of the value proposition they offer. in the name, the low cost they are able to draw in allows them to bring in consumers when folks
feel a little bit squeezed and we know management is focused on getting into the store. to get into the store you need a membership. we trust management and trust they are a company that has what we think of as a parachute. >> we are looking at the nasdaq now. up over 2,000 points from the bear market low december 28 at 2022. as we close out the month of march. speaking of techs. so many people like sales force. cyber-security is constantly being mentioned. why do you like sales force? >> what we like about sales force, it's a sticky products in their software. even though certain budgets have
started to contract when it comes with wallet share with software, they still have a place. if you are growing your business, it's a solution you really require. it's difficult to get rid of that and maintain your business operations. on top of that, there is a bit of squabble and shuffle from q3-4 last year. but they are listening to shareholders and we like to see that. >> customer relation management. i think that's wait stands for. >> we are at 420 points to ending this week. claman outdown is over, "kudlow" is next. larry: hello, folks, welcome to "kudlow." the fa