move. pullbacks happen, corrections happen and crashes happen. some people can predict them every other week and some can bet a billion dollars against the stock market. you can't be wrong spawn probably better and smarter to embrace great companies and going along with those. i have a feeling my friend liz claimen would agree. liz claman would agree. liz: yes, the tropical storm hilary is heading straight towards texas and a slow august afternoon translates to hyper speed moves in the bond market

at this hour, look at bond market right now at 10 year yield and just jumped once again. southern california begins digging out from undermudslides and drawing out from tropical storm hillary. while nevada and oregon brace for its impact. much of the equities market is taking it all in stride. the dow joins industrials well off the lows and down 252 points and down just 27 right now and s&p coming off a three week slide beginning the week with a gain of 27 points. or about two-thirds of a percent. in the nasdaq, nice move here, just about 200 point gain and thankfully we should say we've got on the other side of the screen, pictures of what's going on in california. still no recorded death in the u.s. from the storm, which is now dumping rain on nevada and oregon. the damage left behind in california may very well soak the supply chain that just

recovered in the post-covid breakages and let's go ration of independence to kelly -- let's go live to kelly o'grady at the ports and tell us how this affects terr terribles and all s of products and everything else people are waiting on. >> that's right, liz, we're learning that union pacific specifically is the railroad that takes everything from the ports here to the rest of the country or one of the railroads are experiencing outages because of the flooding and whatnot and will make an impact and the ports i wanted to show you we've got 40% of the nation's imparts coming through here and thankfully the sports are operational and not impacted. i did want to direct you though. you can probably see this cruise ship if you beak through there and -- peek through there and those folks sailed from baja, california, right with hilary and not the weekend get away i would have wanted for myself. the mountains here in los

angeles were hit particularly hard. that's extremely concerning. of course with potential mudslides and that's going to be something that we focus on and look for over the next couple of days and also see on screen there the destruction the folks in palm springs have been dealing with and extreme flooding and people even left their cars behind it got so bad. here in los angeles as you you said, no deaths or severe damage experienced a lot of flooding and highways were shut down. i experience that had on the way into work. when it comes to power, 17,000 are still going without. at a press conference earlier, a first responder shared what the last 24 hours was like for them. >> we did continue to receive a significant number of storm-related calls for service. the lafd responded to 1,833 emergency incidents and received a total of 4,105 telephone calls to our 9-1-1 dispatch center, and this represents over 1,000

additional emergency phone calls than our normal average. reporter: one thing we're watch sergeant agriculture industry and the central valley hit hard and a lot of farms go at lot of water. that's a problem because the areas responsible for 8% of the nation's food supply. i spoke with a number of farmers and said that several harvests they expect to be impacted and think grapes, tomatoes, almonds keeping our eye on rather going into the august harvest. and i'll leave you with this, liz, you know better than anyone, you've lived out here, the infrastructure is just not in place to deal with something like this. we have a lot of flooding and don't necessarily have the systems to drain it. we are in recovery mode they've told us. we're moving in the right direction and certainly not out of the woods yet. back to you. liz: props to governor gavin newsom and call it like you see it. the whole state got ready and it's good to hear there's no loss of life. kelly, thank you very much. kelly o'grady. getting to the markets, we to

want show you that 10-year yield and it's soaring at this hour and the benchmark, which marge rates tend to track stands at 4.336. that is the highest since all the way back in 2007, and it comes right before all the central bankers including the federal reserve jay powell convene in jackson hole to hell graph where they expect rates to go. you could argue the bond market is telegraphing and they expect them to go higher and for the stock market, there's a mixed picture to start the week. looks like the dow feels like it's about to go positive and down just under 11 points, 12. okay. s&p lost 3.2% lia last week and right now gaining about two-thirds of a percent or 30 points and nasdaq up 234 points. investors are hunting for catalysts that may or may not include what's left of earning season. 95% of the s&p is reported second quarter earnings but two tech bell weather yet to report

and zoom video numbers are imminent and pandemic era darling coming out after the bell and chip giant nvidia reports after the bell on wednesday. ahead of numbers, zoom moving up one and a third percent to $67.21. now, remember, this was a $560 stock back in october of 2020. this particular report could be pivotal for the video conferencier and expected to report higher revenue of $1.1 billion and investors will hunt for adoption numbers of its zoom iq ai assistant that rolled out for free trials just back in june. ahead of numbers, ai semiconductor king nvidia, look at this pop here at the moment, up 7.5% and climbing all day. we're right now at highs of the session and it was nvidia's bullish revenue forecast back around may 24th that triggered the rally in ai stocked overall. does it have the power to do that again and how will the ipo filing of chip design firm arm,

which by the way could come at any way play into the picture and silicon valley guru is here for an extended conversation on that, plus, how tech valuelations have come down enough to start double fisted buying. and his besty elon musk's moves at twitter and more. those mace'sy, kohls, foot locker, dollar tree, founder stacey upgraded one of the names we just mentioned and trader ken polcari. kenny, i'm starting with you. what is driving that ten year yield and why do you think the markets aren't shaken or stirred in they look pretty solid. >> i think it's a dead cat bounce. we were down for the last three weeks and nasdaq down and more

of a dead cat bounce and yields are going high zeldon to your point, they market -- higher and market expects it to go higher, especially on the back of powell's comments last weekend ahead of his jackson hole speech on friday. today's action is a bit more of a dead cat bounces as it stops fading over the next couple of weeks. liz: i'm sure nasdaq investors hope it does too and month to date, stock down about 7% compared to about 6% loss for s&p. sorry, make that 4% and oh, boy, it's the russell down 7% and nasdaq 6.2%. stacey, can anything in the retail world, any one of these names that reports really kind of provide that catalyst that is needed because it almost feels like if they do well, that means the consumer is doing well and

the fed will continue to raise rates, that's how the market will interpret it. >> absolutely liz. what you've seen is the tale of two stories in retail. one is the track of winters. seen that from winter and tgx with traffic and ticket up and target that lost 500 basis points of traffic and lost share. from wal-mart we heard some encouraging news and less bad and consumers getting stuck with inflation, food inflation up 20% in two years and this week look at foot locker we upgraded and numbers are inventory numbers that we track look less entad that's good enough. we have a new ceo and channel cleaning out inventories and you have nike that's potentially stepping back into the foot locker channel of retreating for awhile. the numbers will be a sigh of

relief. liz: yeah, foot locker unloved, yeah, unloved today and hitting a 52 52-week low and that was the name that stacey upgraded today. foot locker. kenny, what do you like here because we're about to talk to jason calcannis in the tech world and we're looking at rising oil price and rising gasoline price. what do you think? >> energy sector only up 1, 1.5% year-to-date and up 1% on friday. it was almost flat. i like energy. i think when people think about a lot of big energy names and they immediately think of fossil fuel and you know this exon mobile and chevron are moving into renewables as well. it's a broad statement and a very positive statement and

therefore it's fossil and renewables and that's what we're going to need. i'm big on energy and energy is a opportunity here so i would be a buyer. >> liz: not to mention gas station at place like wal-mart and sometimes bjs but to the point that, stacey, you are making and we look at some names reporting in week, could a kohls surprise. who do you expect to see an upside surprise from? >> so we're negative on kohls and i've been negative on kohls for five years now. if you look at what's happened to target in terms of their pr mishap this quarter and the loss of traffic and market share, kohls might need a bit of that and get a short term pop here. that's potential and we're hearing from william sonoma and big ticket items like home depot is down and consumer getting less credit, higher rejection rates on credit and you'll hear perhaps that pottery barn

decelerated in the big ticket items and hearing from macys tomorrow and the good news for them is sales growth and inventory growth is exactly in line so you'll see margins in tact but like nordstrom i expect to hear a disappointing top line. liz: macys down about 28% year-to-date. other names are catching lightning in a bottle and we'll be watching it all. stacey and kenny, thank you very. for joining us. all right, we're about 59 minutes before the closing bell rings. will wall street bet on nvidia? will it pay off? the stock is up 218% year-to-date and web bush calling nvidia ceo the "god father of ai ahead of wednesday's earnings". the moderator of the og podcast is in and weighs in on the impact of ai and investing in the next big thing in the world of tech.

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liz: artificial intelligence facing a critical test this week when chip maker nvidia reports its earnings on wednesday. nvidia is the best per performss and 500 stock -- s&p 500 largest stock and saw the largest cap gain in u.s. history. those gains were primarily driven by the company's beyond bullish revenue outlook for its chips that power ai. so wall street all in and the

shareholders and are the biggest names in silicon valley signing off on ai chip craze? i know you guys are in on the ai craze, but what about nvidia in getting too frothy? joining me is tech entrepreneur and angel investor j jason calacanis and host of the all in podcast, epic, love it. good to see you, jason. thanks for joining us. >> thanks, liz. liz: i have to ask about this nvidia situation. hsbc hiked nvidia's price target to $780 a share, which basically implies a 80% upside from here. it's gained 211% year-to-date. it's pe's 241 and by the way, this morning it's at 237 and climbing all day. is the exuberance around this name and what it can do for ai really warranted? >> well, the ai revolution is very real thing. we're seeing it in startups, seeing every single company we invest in and we invest in 150

startups per year. every single one of them is using ai either internally to get gains or incorporating into the products like the possible revolution you saw every single category of service or product be poured into your smart phone and before that, every single service get ported to the web. same thing is happening right now. so the need for compute is amazing and we found a way to have these chips get utilized in the world. there was a long period of time when it was really no way to leverage all of the cpu power, the things we needed more of were bandwidth, storage and battery life. it'll change everything in terms of how we live and it's happening i would say companies are about 30% more efficient. looking at this one company, this is very overheated and it's the biggest name, but you have to ask yourself a fundamental

question, will they have a monopoly? that is the question. will there be a de facto or monopoly on the ships? the answer is no or unlikely. they'll have a year or two of being the only game in town or best game in town. but you've got to remember, software is part of this. so people are going to figure out ways to get gains from the software. and so i am not buying it at this point. i will buy shares in companies from time to time in the public markets, and this is one i think is a little overheated. if you're really excited about it and you want to make a bet, sure, go ahead. it's not going anywhere. but i don't think it's a great price for it and maybe it'll be used against me in a year or two but i think there's other manufacturers and this is a great thing about cap capitalism and people see them and want that and may take a year or two and competition is coming.

liz: they're probably -- they're aiming at the top person for the top of the food chain and that of course would be jenson wang and nvidia. as you look at the broader picture of ai, some of these ai etfs have actually just been flat year-to-date, flat year over year or maybe up 7% compared to s&p 500 and is up 14% over the same amount of time and as you continue to watch what's going obstr on, is this e best way? our investor audience likes to get a piece of next hot thing and think perhaps it would be in a basket of the names. is that a mistake? >> yeah, if you want to play in the stock market, buy an index that has lowest fees possible and enjoy the compounding value of it. if you really want to buy individual equities, you've got to sharpen your pencil and do

analysis of them and you've got to be willing to put in hours every week. i would not, definitely not be buying etfs and that's the way to play it because that's just not how winners emerge. it's generally a winner take most or all market. if you look at smart phones, you know, apple has done an amazing job in the west in the modern world, first world of capturing most of the earnings and profitability. sure, you have friends that have android phones but not much profitability in the hardware. study who the big winners are and take a position in those. not play the average and get average results and if you want average results it'll be whatever the low index are and go about your life. that's my best advice. liz: move along and nothing to see except long term compounded growth. jason, talking about new opportunities and upstarts and not to mention big names that are about to list. we're waiting on arm to file actual ipo paperwork.

arm used to be public as arm holdings and soft bank got it and a whole bunch of different iterations for it. we know that reddit is supposed to go public, insta cart, chime, what do you like and what should people buy and pro are you one f those people saying not to buy when a company goes public? >> be patient as an investor and get to know the companies and look at management and customers and engagement of the customers. at the end of the day, the startup is a team, the products and its customers, and i really stick to that fundamental analysis inferring i do and worked well for me with a third, fourth investor in uber and robin hoot and companies like that -- robinhood and made the bet when is the companies were in year one and looked at product and talked to customers and spent time with the teams. liz: don't loss over that. i don't want to gloss over the uber thing.

you put $25 grand into uber as one of the first investors, and that today would be worth, what, about $100 million. so you know -- >> make a little more. liz: probably more. what is the number one thing you look for when a startup founder walks into your office and says, give me money. >> yeah. it's a great question. we look at the team, we really like to see the product velocity internally. what products velocity is is how quickly that product is getting better because all the startups are on a journey to find product market. the product hits the market and aka customers, and they get use out of it. and when you're dealing with year one, year two of a startup, the product velocity and having builder founders and the founders know how to build them and they know how to roll up their sleeves and build the products, that's when you find the winning companies. there's many things along the

way. how big is the market and total addressable market. but those tend to get figured out later. what matters is can that team have product velocity? if you look at greatest entrepreneur of our era, elon, he's an engineer. people forget that because of all the stuff he's done and at the end of the day, he's fundamentally just a great engineer and great at product. look at travis, he understands product and he understands how to build a team. when you see that in a founder, they know how to build a team. they put it over the customer and know how to build a product, it works out well and zuckerberg is in that category too. liz: stay there. we're going to take a quick break and we have a lot more to hit with jason talking about elon musk, the greatest of course ingenuity guy of our time. well, tesla shares are extending gains at this hour, and elon musk, ceo of tesla, of course, and jason have been besties since way back when.

they're so close elon brought him in when he transitioned the x company formally known as twitter. what are the odds that elon can make it profitable and soon in don't go away, x marks the spot. more with jason calacanis. closing bell ringing in 35 minutes. the dow looks to go astive any time. nasdaq having a great day up 218 points. we'll be right back. more with jason in a moment. ♪ “dirty deeds” by ac/dc ♪ (♪) ♪ dirty deeds (done dirt cheap) ♪ ♪ dirty deeds (done dirt cheap) ♪

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liz: we are back with angel investor and all in podcast cohost jason calacanis. we should look at tesla share ifs we can, you guys. tesla right now, jason, is up nearly 7% and had a really interesting day. just started spiking at the open, continues to group. a couple past days hasn't done so well and what a gain, year-to-date and i'm looking right now and make sure we're up to date. 86%. you're very close to tesla and spacex ceo elon musk. you remember at launch of star ship and got off the ground and after a few minutes in flight it exploded. you and i know that was a success because success comes in stages. what stage is elon at with twitter or x as it's now known because he slimmed it down, got rid of a lot of employees, but the advertising has not come back in meaningful numbers. >> yeah. just to be clear, i don't work at twitter/x and, yeah, i'm

friends with elon and there for a bit at the beginning to help with the transition. you know, elon operates in decades. he's not thinking quarter to quarter or year-to-year. you know, he's made incredible product progress, so when you're taking over a business, remember, he's built these businesses and the teams he has whether it's spacex or tesla from scratch. in this case he had to inherit a team. that was a new challenge and he's done an incredible job i think. he took out 85% of the number of employees and the product and releasing volume. let that sink in for a second. if you let that sink in, what you'll realize is on a product basis, whether you agree or disagree in short term with decisions he's making, he's making progress. i talked at the beginning of the show and great entrepreneurs and great products are product velocity. the great thing about elon's approach is and i've watched him

do it for 20 years, he moves incredibly fast and he's incredibly impatient and willing to be wrong and can change course and correct. if you do that, sure, in the short term people might dunk on you and get a press story here and people may disagree and make a mistake, but you're in action. you're making products and testing them with consumers and he it rates very quickly, very talented people that are very driven and want to work for him. that's another exceptional thing that happens. when you are truly driven, you attract the truly driven. here in america, you know, the last couple of decades, we've gotten a bit soft and people don't want to work in offices, don't want to work 60, 70 hours a week and want life balance. understand that and people can make those choices in life, in startups and if you want to change the world, it's about sacrifice. if you look at startups or high stakes technology companies like that that want to change the world, it's really like being a member of the navy seals battle

of the danger. liz: 24/7. >> or a better analogy might be being part of the golden state warriors or olympian. you have to sacrifice. an olympian works, you know, 12 hours a day at their craft, we commend them but for some reason the antibusiness and anticapitalism sentiment in the country is out of wack. liz: it's unfortunate. >> it's a cycle. liz: it is, that's true. speaking of cycles, very interested to know because you're in in silicon valley, silicon valley and san francisco, i went to berkeley and i'm a californian. i get it and have seen the boom and bust here too, but this one is particularly painful. however, it almost looks like there's a bottom coming. ikea is moving into san francisco. they just announced they'll go into the area. do you think that may be that

pivotal moment where others say ikea is going to fix this and like somebody else does it first? >> absolutely not. the bot to the out process is -- bottom out process is halfway there and a lot more pain and suffering to come and i live outside of the city and spent years in the city. it's not livable as a family and safety issues are just too acute. i lived in a very nice area and one morning i woke up and somebody had broken into like 20 garages and gone into people's homes and taken their stuff. when i talked to the police, they said don't bother filing a report. we hadn't been broken into because i bolted the garage door shut because i knew it was a possibility. they said don't bother. there's gonna be no ramification so don't world war i your time. the -- waste your time. literally the cops said that. don't believe the statistics but look at your own eyes and the suffering is incredible and it's tragic. i think it's going to require a couple of election cycles and you have to activate the

moderate intelligent people as opposed to the virtue stimulating socialist communist fringe taking over the city. a lot of the problem are the people running for office are zealots on either side of the aisle. my dream candidate for a long time was bloomburg and would love to see bezos and anybody that operated a business, jamie dimon. oprah. liz: that's the problem, either one of the parties is not that interested in a banker for example. i mean everybody around here agrees dimon would be wonderful. it's hard really to look forward and figure out when san francisco extricates itself from that mentality. let's hope it's sooner rather than later. i wanted to ask you because you mentioned mark zuckerberg as well in the same sentence as elon musk. meta, mark zuckerberg's company of course formerly facebook,

still has facebook. they are, today, i believe, launching a web version of the twitter x competitor threads. i know you're on threads. are you seeing adoption here? what do you think? does it have a shot at beating twitter by any chance? >> no, you know, and to be clear, if you're comparing the two entrepreneurs is night and day. zuckerberg is incredible at copying other people's innovations. that's what he's done his whole career. done nothing unique but steal other people's ideas and execute at them faster than the original folks. if you look at instagram, he bought it, what's app he bought it. and even look at facebook, you know, all the great ideas were stolen from twitter back in the day or from snap chat. he's the least creative entrepreneur, but he is -- been very successful with stealing other people's ideas and threads is stealing the original idea of twitter and it'll fail. he'll get board and he'll move

on a, and i think his one attemt to be creative and buying oculus and maybe pouring money into virtual reality was a huge miss. you know, while zuckerberg is very rich and very fayettevilled bought some great companies, i don't think he's a great entrepreneur other than copying people's ideas and doing 10, 20 times better. liz: americans come up with great ideas and chinese like to copy. >> yeah, it's an amall gus to the chinese. chinese. liz: he wouldn't love that but we appreciate your honesty and insight. come back, jason. for those that don't know jason, he started silicon valley reporter. it was a immig mimigraph, a phoo

copied news litter. thank you, jason. >> my pleasure. liz: we're coming back. check out my podcast, everyone talks to liz. it's chalked full of the most amazing stories of entrepreneurs who were hit at the stomach, the head, the solar medical examiner medical examinerrous and kept going and succeeded beyond their wildest dreams. we'recosming right back. the dow is flat. ♪ new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

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liz: color me green. the dow has turned positive. look at the deficit is clawed back from. the dow at low point was down 252 point-blank layupses and now look at this, it's up 29 points. it turned positive momentsing a. not so for bitcoin. all though bitcoin is positive and it's been trading at a two month low. it's at $26, 122 per coin.

waiting on decision for a coin and converting bitcoin trust into a bitcoin spot etf. there isn't one yet here in the united states. that decision flat configuration the appeals court could come as early as tomorrow. europe has already beaten the u.s. to the punch. as we told you last week, london based jacoby belt management in amsterdam made it the first bitcoin spot etf to come to market in europe. joining me now in a fox business exclusive is the man behind that achievement, jacoby wealth management ceo and blackrock products team martin. martin, congratulations. i don't know what the frame work and hoops you had to jump

through looked like. were they on fire or dunked in mud? here in the u.s., nobody's been able to successfully do it yet. >> well, thank you, and delighted to be on the program. yes, it was a long journey for us as well as in the u.s.. we spoke to many european regulators to understand what their concerns were, and some of the regulators were more proactive and willing to talk to us and ultimately we got to the position whereby last week we as you say, launched the first spot bitcoin etf in europe. liz: let's give the ticker, b coin-ae. it trades euro next amsterdam. we look at what's going on and trading around $17.70. it hit a -- it's a lifetime low and been there for aweek.

$17.70. what do you expect from this and what kind of interest you've seen in it? >> well, since we listed the -- we've had far more interest in the product, people coming to the website, inquiring about it and more information about it. the reaction to the lawn has far exceeded our expectations. we're targeting constitutional investors in europe. they will be going through due diligence on the product, but it's the first product that the market has in europe. what we've also looked to do and what we've also implemented is this sustainability element so we've addressed the environmental concerns for the -- from the electricity consumption of bitcoin network, the weight the fund is responsible for and what we do there is we buy renewable energy certificates for the energy that we're responsible for, the bitcoin network's energy.

by buying those, we are innocence then for using renewable energy. liz: okay. >> and totally decarbonized the funds so it's austinable bitcoin investment in a safe and secure product. liz: here in the united states, we have numerous companies, etfs for everyone with blackrock and ark investment and gray scale waiting for some type of response. have they called you, any of them, to ask what's your secret sauce and how did you do it? >> well, in the 15 years i've been working in the etf industry, i've never seen so much anticipation, so much news about an impending product launch. it's fascinating for us over in europe and clearly in the u.s.. and it really, i guess that escalates up and becomes much bigger when the likes of

blackrock enter that. liz: you work there had and that's what i was going for, martin. have you talked to anybody at blackrock about the successes you've had in europe and how you maneuvered through it whether focusing and attacking the sustainable issue whether to get that piece right? >> i'm still waiting for the call from larry. so no. there's many, many people in blackrock that probably are unclear about what's happening in terms of the application. they're going to keep it very confidential. i know larry's on your show not so longing a and there was no too much he could say about it. liz: re-went all in and was very positive about bitcoin and felt this was a opportunity that investors should be allowed to grab if they wanted. >> yeah, the fact that 3 million trusts in gray scale wants to

convert to etf, that just shows the investor appeal and the power of the etf structure. that's why we came to the market with an etf. it's the right products for structure for investors. and it's great that blackrock is fully on board on that now, and it really bodes well for the market general reaction. over time the price reaction of bitcoin. liz: good to see you, martin, and congratulations. you're the guy who did it. you got to yell urorendition ofd we'll continue to watch it is performance. please come back. >> it was a team effort. not just me. liz: always. >> thank you very much, liz. liz: always. we're coming right back and the dow just turned negative and trying to make that late day comeback. we'll shall see if it can do it. now it's positives ty again. you've got to stay through the commercial break. our count down closer is next.

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♪. liz: it's a nail-biter i tell you. look at the dow jones industrials down about eight points. who knows it has been passing the flat line up and down past couple minutes. it has been positive.

we're watching closely. s&p up 32, the has talk up 213. this is a tech-led day if you're looking at the green names. we should check on shares of zoom, they're also in the green moving higher by 1 1/2% ahead of the release of the company's second-quarter earnings report, comes out after the bell which is in four minutes. today analysts are expecting zoom to post higher revenue as well as a net income of $61 million. that would be way up from 45.7 million a year ago. we'll get the whole story tomorrow right here on "the claman countdown." zoom video ceo kelly stepberg has been there from the start. we're watching it closely. videoconferencing is alive and kicking. zoom was one of the great pandemic darlings. you wonder about the cybersecurity names, everyone that did well during the pandemic. joining us with $100 billion

under management, cap tech ceo, michael vogelsang. palo alto, obviously a cybersecurity name. it is gaining 15% after reporting earnings after the bell on friday what is a hullabaloo. people thought they were doing that they had bad news and everybody was gone having their mow heat toes after 5:00 p.m. that is not me. the nasdaq has been a predictor too. tell me about the earnings season we've seen in tech and which pockets are crushing it? >> palo alto is about execution being in the right space. the reason people were sew nerves about it because some of the other security providers came in weak. everyone was expecting palo alto to do so as well. we love the stock. we owned it for a while. it has been terrific. earnings season has been pretty good. we entered earnings season with s&p estimates down 5% i think.

they have actually come in better than that. so a little bit stronger. better revenue growth and better earnings growth. the consumer just continues to drive this market and this economy higher. liz: yeah. it's really if you look year-to-date, the nasdaq has been such an incredible outperformer. >> oh, yeah. liz: so have some of the names that are in that have done even better than nasdaq overall. i'm thinking about airbnb. this is a name you felt has the quality. there are characteristics within this company that look quite impressive even though the world somehow feels that this is a name that is sus. this is a company up 44% year-to-date. how much more run room does it have? >> well we like the name. we think it's certainly not the perfect time to purchase some here. the basic theme we're finding in the market is different than what people think.

technology is strong, it is growing quickly and that is not perfectly right. we think technology is doing well, particularly the megacap, nag any of sent seven, how we want to refer to them because they're generating so much cash. the interesting thing is not the technology but they are caps generators. with this economy and market so incredibly cloudy, right? there is a very, very difficult thing to see through we think the market is paying for that cash flow in technology and as a result there are other places you can find cash flow. some of the smaller mid-cap names that generate lots of cash have outperformed their benchmark by 10 or 15% this year. so it is that theme that is interesting. liz: one quick name because we got about 30 seconds. >> sure. >> like a homebuilder. not one that warren buffett recently bought. buffett has loaded up on the homebuilder. you like pulte. why? >> we like pulte for a lot of reasons. first of all it is in housing. we think there is permanent,

almost permanent shortage in this market. the main reason warren buffett has talked about. people can't, aren't selling their current homes because of the mortgage rates are so low and most homes by the way are owned by boomers. so you know, pulte is a great executor and wonderful targets for people who need hopes, particularly young folks. we've done really, really well with that stock and we like it. [closing bell rings] liz: congratulations on that one. thank you very much. michael, thank you very much. dow couldn't quite do it, down 35 points. nasdaq on the way to the best day since july 28th. that will do it for us. ♪. larry: hello, folks, wealth come to "kudlow," i'm larry kudlow. last week the biden white house bigwig john podesta fests up all the inflation reduction act was really about climate change, not inflation. the cost of that acted by the way has be