The Claman Countdown : FBC : August 19, 2024 3:00pm-4:00pm EDT : Free Borrow & Streaming : Internet Archive (2024)

this nation is already in such an economic situation. now who knows when the national bureau of economic research will apply their own time stamp but i think data will appear soon that shows that they should be ready, right? i think it could be spring 2024 honestly. if that happens, good news is that the feds will then open up the spigots, right? the bad news though is sadly the same folks that were torched by the inflation are going to get burned again because the fed will be late, but that's what happens, right? lower income, middle income folks in this country get whip-sawed back and forth no matter what happens. that's why you hope the fed is as precise as possible. we want a soft landing for the economy but liz claman, we also want it for the nation as well. liz: yes. yes. we don't want any emergency landing. charles: no. liz: no thank you. charles thank you. charles we've got a split as we kickoff the final hour of trade. investors showing no signs of profit-taking yet.

stocks continue to flex their muscle after notching the best week of 2024 and then the democrats hope to flex their political muscle on this first day of their national convention. we've got it all covered dow jones industrials up 188 points on-pace for the fifth straight gain but if ever there were a sign investors got over the august 5 mass sell-off with lightning speed, it's staring at you from these two charts. s&p and nasdaq bulls are lapping the bears for the eighth session in a row, with 11 s&p sectors right now, communication services, energy, and consumer discretionary leading the pack, and we've got the s&p up 37 points or two-thirds of a percent. the nasdaq up 164 points, or just under 1%. i mentioned tech. not a slow mover for amd. the a.i. chipmaker is gaining nearly 4% at the very top and

the best performer there and the third-best s&p performer. because it has decided to whip out the wallet and do spending. amd plans to acquire a prix privately-held server maker called zt it's is employees for $4.9 billion so let's take a look at the dow leaders because yes another semiconductor maker is near the top. you can see how broad based the rally is. we've got mcdonald's, intel, walt disney, amgen and travelers. evercore isi raising mcdonald's price target from $300 to 320 and we have it at 287 and change so these market gains that you see across-the-board come ahead of federal reserve chair jay powell's big speech this friday. you heard charles say it matters. it's really important. he will be at the central bankers forum in jackson hole where he's expected to widely signal a september rate cut, and after the last and latest read on consumer inflation, july's

cpi came in below 3% for the first time since 2021 what does it all mean for stocks and the economy? let's get to the floor show joining me now live from the dnc in chicago is fox contributor and former ubs america's chairman and ceo robert wolf and with me here, pence wealth management cio drydon pence. robert, an eight day winning streak for the markets, inflation cooling that helped the narrative. real tailwinds for the democrats but this just as the dnc has its curtain raised. kamala harris and her price controls policy is suddenly front and center. can you tell me what people should think of this because even the washington post is giving it a thumbs down. what is the chatter in chicago? >> yeah. first of all, if you heard the speech as i'm sure you did she didn't use the term "price control" but actually the idea of working with business to make sure there were no bad actors in

the industry and she was talking about price gouging, anti-collusion and making sure there was competitiveness and liz you know that in 37 states that's a law. actually, you've had situations where even the attorney general in texas have gone after gas stations. you've had the attorney general in new york going after those at walgreens, and so you've had actually the senate take on meat distributors, so this is not a new thing and it's not like there can be a magic wand to change this. it's a regulated type of policy. liz: i know we have some republican states like arkansas and texas that have their version of i don't want to say price controls, but they want to make sure that the consumer is not getting hurt in any of this. it polls well, apparently with undecided voters, but i'm just wondering. when you look at it, robert, there are people who really

believe that it's an adjudicated, to say price gouging, that has to be an investigation that reveals something. you know, grocery store margins are very very thin at this point, so isn't it really maybe the meat and the egg providers versus the grocery store chains? >> yeah, my view be it's looking for those bad actors who are taking advantage of disastrous events whether it was covid or whether it is some hurricane situation like happened in texas, and so, you know, i looked at her. i spoke to her friday, liz, and i looked at her economic message probably a little different than most. i thought utility four quadrants were housing, food, healthcare and child care. you mo know to live the american dream those are the four things you want right. i thought it was aspirational. i thought it talked about opportunities and certainly, she went right there and said we have to reduce costs, you know, inflation is still too high. so i thought it was a pragmatic

speech. i know that a lot was taken out of context. that happens when policy speeches are made. liz: yeah, that's very true, but dryden is standing here, he's a wealth manager and when we look at all that's going on right there in chicago and you bring it back to wall street some of the issues are very much tax-related for middle class and lower-income people and do they invest in the stock market? you know, the stock market is a different type of gauge, is it not? >> well it's a different type of gauge but 58% of americans today have some investments in the stock market, so you can't just take actions that would affect capital formation in this country and our free market cyst chem has actually created the greatest economy in the world and begin to do price controls origin to do things that begin to upset the free market economy system because again with 58% of the people in america owning and having retirements and their future tied up into the stock market, you can't begin to have policies that are negative to capital

formation, growth and profits, earnings, all of those things, because now it affects most americans. liz: let's talk about housing and robert she had come up with ideas about giving $25,000 to new home buyers. we got to think about the housing builders. the companies that build these. part of the issue is that there is a lack of supply. now the housing stocks have done pretty darn well lately, but are you concerned at all that if you increase demand by giving people a big check to buy their first home, then you crimp the supply which is exactly what has happened over the past three-years with things like grocery items. >> liz, i hear you. there's a lot of music in the background. >> ♪ >> hopefully you can hear me. liz: yeah, i can. >> can you hear me? liz: yeah, go for it. >> what i must say is clinton,

obama and biden have had incredible stock performance as he would tell you and we know that the three largest downturns in the stock market, over 2,000 each were under former president trump and i heard you talk a little bit before about industrial america. we should be applauding that all of a sudden factories are being built like ever before and we have a comeback in manufacturing whether it's the georgia battery plant or the arizona semiconductor plant and the last thing i want to say on housing, sorry for that quick pivot, is that for the most part, we've had something we've never seen from that first time buyers aren't buying homes because they don't exist. i don't agree with the idea of $25,000 being given to someone unless we make sure that 3 million homes are bought first so i hope you hear me. liz: we do. but you weigh in on that and we'll get a very important stock pick from you. >> absolutely. the issue on housing, it is more of a supply issue than it is a demand issue and generally if

you'll subsidize these purchases it's just going to push up the prices and exacerbate a problem, so i think we need to really focus the policy needs to focus on increasing the supply and that will make the big difference for people. liz: and your stock pick is one that is in the news right now and that be amd. it is at the very top of the nasdaq 100 right now getting a big bump. its made a big acquisition. what's your push behind that and not say for example, an nvidia? >> well the point is is it's amd, making an acquisition, to go after nvidia so this is a strategic acquisition on amd's part. they are really the number two provider and they need to have this increased data center capability to be more competitive going forward, so we like amd, have for a long time as you know and the point of the matter is this is amd strategic entry to begin to challenge nvidia. liz: well we're looking at a lot of challenges from competitors and rivals in the chip space.

this is what capitalism is all about. it's great to see you dryden. robert, thank you very much. i know it's loud there but thanks for putting up with it. we appreciate it. we've got some changes at the top for cosmetics giant estee lauder. is the stock's reaction pretty? find out when we come back. the "clayman countdown" has so much more on the markets and we've got some breaking news on cease-fire talks in israel. and tomorrow, singer songwriter and now will i am joins us here first on fox business. he has founded a.i. company fyi and will unveil his app right here that he says will turbo charge your creativity by turning your ideas whether they be work projects, marketing copy or song lyrics into instant reality. will i am here tomorrow. dow jones industrials gaining 176 points. we're coming right back. ♪

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liz: fox business alert. we've got a change at the top at estee lauder. the cosmetics conglomerate announced the ceo will retire at the end of fiscal 2025. freida led the company for 15 years and no successor has been named. he might be getting out just in time. the maker of mac cosmetics also reported, you'll see disappointing guidance for 2025. the stock initially dropped to a low of $92 down about 32%. right now, it is down about a quarter of, i'm sorry not 32% but it was down much more significantly. right now it's down about a quarter or just $0.15 but it has managed to pop back into the green during this session here and there. yeah, it is down 35% year-to-date.

piper sandler cutting away at food chain stocks, downgrading dutch bros, sweet green and shake shack to neutral from overweight so here is the deal. the firm sites softening traffic to fast casual restaurants amidst a worsening industry backdrop, all three are down but sweet green and shake shack had big moves to the upside. over the past six months sweet green is up about 200%. we've got a slurpee announcement the owner of circle k stores made an offer for japan's holdings which operates 7-eleven convenience stores and no details on the offer from the parent of circle k, but it has not decided whether to open talks yet. both companies are leading operators of gas stations and convenience stores in the us. it described its offer as friendly and non-binding. it's popping 27%. and sports-focused streaming

stock fubo tv, well, it may be off its highs but it's still surging 16.6% after a us judge on friday issued a key injunction that temporarily blocks sports streaming service venue from launching. fubo tv alleges that venue, which would bundle sports programming from disney, warner brothers, discovery and fox, is anti-competitive so for now, everything is stuck in the water until this legal issue continues to move forward. we have major breaking developments out of israel at this hour, where secretary of state antony blinken has just gotten israel on board for the hostages foresees fire e proposal. what does hamas have to say? we'll have a live report from tel aviv. plus how will the israel gaza issue play out in chicago where protesters already descended? we ask bradley tusk when we come back.

stay tuned.

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consider adding this. an aarp medicare supplement plan. take charge of your health care today. just use this...or this to call unitedhealthcare about an aarp medicare supplement plan. liz: breaking news. we've got oil prices right now. look at this chart. they are diving 3% in the after market session after sebaceous of state antony blinken said israeli prime minister benjamin netanyahu has agreed to a cease-fire deal in order to halt the war in gaza and the next step is for hamas to say yes.

this is the ninth trip to the region since hamas attacked southern israel on october 7 killing 1,200 civilians taking hundreds hostage. blinken called it a "bridging agreement" and he's headed to egypt tomorrow and say the high stakes negotiations are the last chance to secure a cease-fire to let's take it live to tel aviv and fox news correspond entertainment alex hogan. reporter: hi, liz. as you mentioned after-hours of conversations with israel's defense minister the country's president as well as the prime minister, us secretary of state antony blinken said tonight israeli prime minister benjamin netanyahu has agreed to this proposed cease-fire and also calling on hamas to do the same tonight. >> critical next step is for hamas to accept the bridging proposal that prime minister netanyahu has now accepted and then to engage with everyone else on making sure that we have clear understandings of how each

party would actually implement the commitments. reporter: blinken will head to egypt tomorrow where he and other senior officials will meet to further these talks. despite tonight's optimism blinken warned there are very complex issues and disagreements of how to implement this process, so here are those examples of sticking points. the return of displaced palestinians. more than 85% of gaza population has been displaced according to the u.n. so hamas wants civilians to be able to go back home freely, especially to the northern part of the strip. israel wants people to be screened. another potential impasse, the fighting in gaza. so hamas is calling for an immediate cease-fire. israeli prime minister benjamin netanyahu has called for a total victory meaning the iaf be able to keep fighting to ensure that hamas no longer poses a threat. that leads to another potential hurdle to overcome. hamas wants the complete withdrawal of israeli forces. israel wants to retain control

of the philadelphia quarter the nine-nile stretch of land separating gaza from egypt. blinken said a lot of those specific points will be ironed out in the days to come. he also spoke to the family members of the hostages here tonight in tel aviv telling them that there could be a cease-fire within the coming days. liz? liz: whoa. can i just quickly ask. if we can put that map up again, you guys, because the area there, what does egypt feel about this? egypt was disinclined to let refugees from gaza stream into its country. what do they feel about the corridor? >> that's right so we haven't specifically heard specifics from egyptian negotiators. we did hear a potential hint from blinken tonight that washington could potentially give the green light to at least keep some israeli forces there. of course that's going to be likely one of the points that hamas really tries to pushback

on. it is also worth noting, liz, despite the optimism we're hearing tonight from blinken we really have not heard any such reassurance from hamas and it was last night on sunday night that hamas issued its first statement since this renewed conversation and negotiations began, saying that this specific proposal right now really leans heavily towards what israel wants in terms of what israel's demands have been so we'll continue to watch the days to come to see if they do issue a new statement now that israel says it's on board with this proposal and what this means given there's going to be a lot of pressure now specifically from the world watching that if israel is agreeing to this , if hamas is not given the dire situation are they really protecting their civilians of course? liz: we know the answer to that. alex, thank you very much. alex hogan. so this is huge topic at the dnc, is the current biden administration continues to forge a path closer to a hostages for cease-fire deal in

gaza. vice president, democratic presidential kamala harris, last night at a campaign event in moon township, pennsylvania, the vice president was asked whether she thinks israeli prime minister benjamin netanyahu was ready to agree on a cease-fire deal. >> i will not speak for him but i will tell you that these conversations are ongoing and we are not giving up. we are going to continue to work very hard on this. we've got to get a cease-fire and we've got to get those hostages out. liz: there are important voting blocks in the us watching this. how will the democratic donor class absorb what's been a split stance, one where kamala harris declines the slaughter of 1,200 israeli civilians on october 7 but also criticized israel's subsequent moves to defend itself. joining me in a fox business exclusive is one of those donors co-founder and ceo bradley tusk, who provided early backing to fan you dual, a coupf

topics we want to tackle but in its just-released party platform the democratic party does address the conflict saying the us strongly supports israel in the fight against hamas, but it's holding hamas, but it's hamas that's holding the hostages for 10 months. are you comfortable with the party stance? >> look, i would like to see the party be in support of israel if possible. i think that overall the us has generally been supportive of israel since october 7. i think that we shouldn't have held up any weapons like we did a couple months ago, but i think that overall, the most important thing democrats can do is say we believe in democracy. we believe in freedom. we do not support terrorism and back israel. liz: all right at the dnc, there are some protesters who have been speaking. there are many that are expected to show up. these are pro-palestinians, pro-hamas protesters. this year we've seen hundreds and hundreds of protests across us campuses for ivy league

presidents, lost their jobs. i mean, but this is 80% of registered voters in america support israel and its ability to defend itself. this is an important voting block and it looks like donald trump, if you look at the recent polls, really has a lock on the jewish vote. in fact he could get the largest percentage of the jewish vote because he has been very clear about his support of israel. how can kamala harris counter that? >> yeah, i mean, i think that she really just has to be very clear that the us is going to be a steadfast supporter of israel under her presidency if she is elected and could you imagine if someone had done that to the us? think about our response after 9/11. we were effectively at war for 20 years on two different continents and spent $2 trillion and some of that might have been justified and some might have been overkill, but effectively americans felt like if you invade us this is what happens to you and the israelis should

be given the same freedom to defend themselves as well, so i think the more that harris can reassure jewish voters and donors that she has israel's back and she cares about their security the better we are. liz: let's dovetail, segway to the economy and the party platform. last week, harris unveiled her economic plan at a campaign event in raleigh, north carolina during which she brought up this issue of alleged price fixing and making sure that at least for grocery items, that there should not be any kind of, well, you know, they call it price gouging but listen. it's price fixing, and that hasn't been proven. there's been no investigation of that but i'm just interested to know. you, as somebody who helps small businesses get started, tell me what your thought is on this , because the argument is that it's the big corporations who do it, but let's not totally, you know, sort of make them look like the devil when their

margins are pretty thin as well. >> yeah, look. ultimately it's a fine balance and i've spent some time with the ftc talking to them about this which is as an early stage tech investor, i like the idea of being tough on amazon and google and apple and meta. liz: but they have the lowest prices. amazon and walmart have the lowest prices. >> sure, yeah, absolutely. overall we're talking about trying to stop anti-competitive behavior to allow innovation and for that. on the other hand you also have to let the market operate, which is the point you're getting towards which is the market operates and there are times where there truly is collusion and if there's evidence of that we should absolutely pursue it but at the same time i think this ftc overall has been too tough on business, too tough on turning down acquisitions and created a real chilling effect throughout the start-up community where there's lack of liquidity and the reason we felt

that over the last three-years is a lot of m&a deals would have gotten done in the past haven't been happening because people think there's no way the ftc will let them happen so yes of course the ftc should exist and stop collusion and price fixing and stop companies that have become giant monopolies but overall we need to encourage growth and competition and m&a as much as possible. liz: yeah, they really have brought down the hammer on so many m&a deals, and sometimes, companies cannot survive if they don't merge. we want to keep people employed at some of these weaker companies so that's been a real head scratcher for a lot of corporate america. >> yeah. liz: i was interested to hear your thoughts on tonight. joe biden, of course who stepped down july 21. he was going to run but under extreme pressure. a lot of concerns about his mental acuity. he stepped down making way for kamala harris who has invigorated the democratic party and maybe even some undecided voters. joe biden is speaking tonight. is that a good idea?

he wasn't exactly -- >> no. if i were the dnc, look, i understand how awkward it be to say you're the president and not allowed to speak at the party's convention. i get it. i wouldn't want to be the person that has a conversation with him but if you look at harris' balance in the polls it's basically because she's not joe biden. it's not that she has said or done anything dramatically different than biden in the last couple weeks. it's just by the very virtue of not being an 81-year-old guy whose mental acuity is being questioned. that has won her several points nationally and in some of the swing states so if that is proof that the voters felt like hey, you really really don't want joe biden as the candidate, why you would then want to put him in front of everyone, in front of the whole countries remind them of that, i'm not really sure, and so if you could script it so that he weren't speaking in primetime, i guess that's what you'd want to do, in a weird way for harris, the best

thing is going to sound a little crazy but is it actually biden is sort of pretty bad tonight, kind of debate-like without biden because then it's like look, thank god he's off the ticket and has been replaced with someone younger and more dynamic, and that contrast is really helpful to her but overall i think reminding voters of this that they just didn't like at all before he had to dropout of the race doesn't take a ton of sense. liz: okay, are you invited? are you going to go? >> as an independent, i'm unfortunately not welcome. liz: bradley, good to see you, thank you very much. >> thanks for having me i really appreciate it. liz: bradley tusk. stay tuned to fox business coverage of all of the speeches at the dnc starting tonight at 7:00 p.m. eastern time. folks we've got vaccine maker stocks that are speaking as the world health organization declares the rapidly-spreading mpox outbr eak, a public health emergency.

could the new mpox threat cause significant harm in the us? we ask world famous epidemiologist dr. ann rimoin next and looking at the ultimate secret weapon for anyone who travels but doesn't know how to unleash the power of points. the famed points guy is the leading voice when it comes to maximizing loyalty programs, points, miles and credit cards. in my brand new everyone talks to liz podcast i shake down brian kelly founder of the points guy who spills detailed ideas. the ones he uses every single time he travels. dude has like 25 different credit cards and he reveals which ones earn the most for which purchases and how to turn them into jet-setting five star vacations. you've got to listen on apple, google, spotify, iheartradio wherever you get your podcasts i learned so much i was taking notes the whole time. you will too. stay tuned we're coming right

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ingredients in many clean energy and defense technologies. energy fuels. liz: fox business alert. you'll notice that a host of stocks you might not be familiar with, many of which are getting a boost this hour after the world health organization declared mpox, also known as monkeypox, a global health emergency. mpox vaccine and drug developers we're talking about geovax up 5.6%, emergent biosolutions up 15.75%, biolabs up 135% along with co-diagnostics up 23%. they are all rocketing higher as the w. h. o. reports a sudden spike of more than 14,000 cases resulting in some 500 deaths. can all be traced to a new, deadly strain of mpox, spread through casual contact. "the situation" is so serious

the cdc issued a health advisory and more than 96% of this are in the democratic republic of congo and just hours ago, congo's health minister said they hope to receive the first mpox vaccines by next week and the us and japan promised to send big batches of them but there's growing concern the virus will spread to asia, europe and already there are cases that have just been reported in sweden and pakistan. whose next? joining me now leading mpox expert, ucla dr. an n rimoin of the fielding school. right off the bat, please explain the difference between this particular strain and the one just a couple of years ago, which was attacking the gay community and the prostitutions community. >> liz, this is the strain that has been circulating in central africa in the democratic republic of congo where i've

been working the past two decades and has traditionally been associated with what we think to be more severe disease. now, that said, we don't know for sure how much more severe if it is more severe or what's happening. we need a lot of research to really understand why we're seeing this big rise in cases and it's great news as you say, that we're getting vaccine to africa to be able to stop the cases where they are coming from. liz: 70% of these new cases are apparently in children and the greater part of the deaths from these cases, as i understand it, have been children. this means that casual contact can be deadly. explain about the ways people are contracting this , mostly if you look at the map, right there in the heart of the drc. >> what we're seeing are two outbreaks that are basically interconnected. the cases in children are likely coming from zoo exposure so that means that these children are coming in contact with wild animals that have mpox,

the monkeypox virus and then they get infected and then likely because people live in small houses, very close quarters, then other people in those households can become infected so what we're likely seeing with these kids are more exposures to these animals, maybe they are more virus circulating in these animals right now and that is likely what's happening. then, we're also seeing in the east of drc and now in a couple other places in adjacent countries we're seeing sexual transmission of this particular variant which we haven't seen previously, so there are a lot of big questions as to what's driving the increases in kids, and the number of deaths and what's driving the sexual transmission that's happening in other parts of the country. liz: well its already made it to sweden and pakistan. the big worry is it gets to here in the united states and are we prepared? give me your best guess. is it coming here? >> well listen. as i've said to you before, on many occasions. an infection anywhere is

potentially an infection everywhere, and when you start having viruses that are transmitting easily through close contact and sexual contact, wide sexual networks, i mean, that is an opportunity for a virus to spread. we saw it in 2,022 with the mpox outbreak related to the other variant, and i see that that could happen very easily. you know, if you aren't looking for it, you aren't going to find it. it might be misdiagnosed as other things. we don't know how much a symptomatic infection actually occurs so it's very likely that it's already spreading a lot more widely in other places than we're aware, now that there's a public health emergency, we will start to learn more because people are looking for it. liz: do we have enough of the vaccine if it were to come here to the united states? >> well here in the united states, we haven't had a problem with access to vaccines but when you think about what's needed in terms of global vaccines it's time to ramp it up and that's why this call by w. h. o. to

get the 10 million doses of vaccines out there and working to be able to make that happen is really really important. as i've said to you before an infection anywhere is an infection anywhere. get those vaccines into arms in the places that matter the most, right now, and that's africa. here in the united states, also, we'll need to be able to ramp up too. liz: just a quick finer point on what's going on with covid. suddenly, a lot of people i know are coming down with covid infection. anything worrisome about this. it seems like most people are making it through just fine but the spread of this is kind of front and center at the moment. i think a lot of people know somebody or themselves have experienced covid recently and that's because we're in a wave here in the united states and it's something that i think that we're going to have to get used to as we really understand this virus is index ic. we have high seasons and low seasons of it. we've always seen this kind of jump ever since covid has

started in the summer and we're kind of in that moment right now. the key is that people may not have been vaccinated in the recent past. they may not have had an infection in the near past so we're in this period of maybe having a little more vulnerability so the virus takes advantage of that. key is going to be when these new vaccines are available. the updated ones, you get it just like your flu every year and then you're protected against the new strains. liz: well i can tell you. when you see it surging not just in the united states but in 84 different countries once again, but i guess it's just like the flu. well thankfully its become like the flu and not as deadly as it had been. before we go, so you just got back from the congo, and you met with your team who has been working to insure that this mpox situation hopefully does not spread. what's the most worrisome thing you heard when you were there? >> well i think that the key here is that we have so many unknowns. why are we seeing this big

increase? why are we seeing new modes of transmission and so my team, along with the ministry of health and the national laboratory and collaborators from all over the world are coming together to try to really understand what's happening and to be able to make sure that when those vaccines are getting out into arms that people are willing to get the vaccine, trying to understand it better, so we're doing a lot of studies on vaccine acceptance as well as trying to understand the epidemiologist and listen it's just really important from everybody's perspective to get in there and to understand it, long before it becomes a bigger problem. as your dad once said, it's much easier to stay out of trouble than it is to get out of trouble. your dad was a very wise man so i think it's really important when you talk about this , talk about covid, mpox, preventing any pandemic or epidemic or outbreak, stay out of trouble

rather than getting out of trouble. liz: and she knows what my dad said because she's married to my brother but it's great to have you dr. ann rimoine, i'm proud of you. thank you, liz. liz: great to have you, thank you for informing our viewers and protesters are converging on chicago as they push for policy changes on gaza at the dnc. will the windy city be able to avoid a repeat of yes, that chaos that unfolded outside the party's convention way back in 1968. we've got a live report. markets continue to move higher. s&p and nasdaq are on pace for their eighth win in a row. stay tuned we're coming right back. this is clem. clem's not a morning person. or a night person. or a...people person. but he is an

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liz: breaking news. president joe biden arriving in chicago just moments ago. here is video of him getting off air force one. he will speak tonight at the democratic national convention. ahead of that pro-palestinian protesters wasted no time in making their displeasure known about his policies particularly with the hamas israel war. the pro-palestinian group march

on the dnc held speeches at union park before marching a preapproved route outside the dnc venue. fox news correspondent steve harrigan is there right now. steve, tell us what you're seeing. >> reporter: organizers for those protests began arriving just after dawn. they heard speeches that attacked kamala harris and the democratic party. they are finally getting ready to march now. they have apreapproveed route of one mile several blocks from the convention center there will be a question whether or not they stay on the loop. i'm amid 2000 protesters, mostly pro-palestinian. we saw a tiny group of people holding israeli flags. we talked to them and asked one of them why. >> over the past few months we've seen an explosion of antisemitism. my primary concern just as an individual is just showing the jewish community we love them, we care for them.

>> reporter: i can see rows of police in the background, many of them on bicycles. so far things have been orderly here but day time protests often change tramatically overnight. back to you. liz: steve harrigan, thank you very much. a lot of police presence. closing bell four 1/2 minutes away. keep an eye on the nasdaq it is on pace to exit correction territory if it closes up at least 183.67 points. right now the nasdaq has already done it, it is up 223 points, a big winner here. advanced micro devices, i will look at some other leaders on the nasdaq getting us there. we have lumina, moderna, nvidia, decks con and tesla in the leadership positions. lowe's companies reports after the bell tomorrow. we await results from the home improvement chain. we're looking at mortgage rates starting to soften.

our "countdown" closer says he has a homebuilder pick. joining us 1.2 billion in assets under management, turtle creek wealth advisors chief market strategist, david spika. good to see you. it is interesting, the home depots, lowe's of the worlds have different shades of involvement in the housing market but i certainly imagine this will be very closely watched. that said, how are you looking at the housing market at the moment? >> well there is clearly an you know supply of housing in this country, liz, we need a lot more home, several million for the demand of houses. company like lennar is very approximately positioned to meet that demand. mortgage rates are falling. rate will fall further. they are integrate. they do multifamily. they provide mortgage financing, land development land sales. they are leader in the clubhouse in our mind and will take advantage of the demand that

needs to be filled. liz: that demand is extremely important. ledge far up 2.25% at the moment. you're picking applied materials too which is a semiconductor equipment-maker. the equipment-makers, there are fewer of them than the actual chip-makers. amat has been a stalwart and a leader. right now it is up 1 1/2%. if you stretch it out it has had a pretty darn good year along with the rest of the chip industry itself. where do you see this company going because there are a few competitors in there? >> applied materials is the like the picks and shovels in the semiconductor industry. liz: exactly. >> they're clearly a play on artificial intelligence. we saw a good reporter on them they reported last week. revenues, earnings march begins ahead of expectations. they raised guidance for the next quarter. we think they will still benefit with what a dearth of semis in this country and need for industries that need to drove with semis this is a place that

still looks food this still down 18% from the recent highs. from a valuation perspective they're trading 22 times, growing earnings, 15% other more. looks like a really good lace to be if you want to be in the tech space. liz: in the tech space. are you all in stocks guy, with treasury yields falling, treasury rates down, nowhere near when we were looking at highs over the past year? so, david, is there a place in a portfolio right now for bonds when you start to see that this is an extended rally, and, we know that jay powell on friday is going to give a speech. what we don't know is whether he will say it is a 25 basis point cut in september, a 50 basis point cut or nothing. so give me your sense of where rates go and whether it's really a much better bet to be in stocks? >> liz i'm always proponent of a balanced portfolio. wrong-term investors have to be balance and you have got

opportunities today in bonds you haven't had in almost 20 years. so i would very much recommend having bonds as part of your portfolio. if you believe the fed will cut 25 basis point in september, and another 25, 50, before year-end, we want to see the rate cuts a way to normalize rate. not the fed panicking because the economy is falling off a cliff. we need to get normalized. we need rates down to a normal level. fed funds in the 3% range, 10-year four 1/2, 5% range, that would be ideal. liz: i tell you the bulls are looking at ideal numbers on the screen as closing bell rings. closing bell rings] nasdaq exits correction territory, set your dvr, musician will i am tomorrow. >> hello, folks welcome to a special edition of "kudlow." i'

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