other things in the hop orer. i'm not saying whether he's a good guy or bad guy, but i'm leery of the same profile, the same people, the same look, the same visionary stuff, right? they're all into effectival true theism. i'm tired of the american public being ripped off and, sad to say, right, it did not stop today. so my warning to you with whenever you see one of these guys, one of these hipsters and he looks like a modern day hippie and everyone's saying he's a genius, take a step back. look at the financials, look at a everything and pay attention, pay attention. because the people who are supposed to be doing this for you have let you down over and over and over again. and i don't know that it's -- i don't think it's, i don't think it's a mistake. i think manager's wrong there. manager's wrong there. well, here's liz claman where nothing is ever wrong. [laughter] liz: thank you. charles: you got it. liz: yeah. remember the whole bitcoin jesus thing in. [laughter] charles: don't get me started.

liz: we're covering that story heavily in just a second. the s&p 500 just hit an all-time intraday high. remember, no trading tomorrow for good friday which means we are 59 minutes away from the last day of stock market trade for the week, the month and the quarter. so right now you can see on your screen the dow's up 73, s&p up 12, the nasdaq up 6. can we just look at the russell for a minute in look at this point gain, 10 points. that's all it needed for the small and mid caps to hit a 52-week high. so they have done incredibly well. for the month and especially quarter to date it's kind of like that hot chocolate songs everyone's a winner, baby. but the biggest trophy is about to be handed to the nasdaq. rook at that gain here. we do have -- actually, it flipped. it was higher than the s&p for the quarter, but right now you can see for this year the nasdaq is going to gain about 9.33% unless something changes in the next 58 and a half if minutes. we've got the s&p up 10% plus

and the dow looks to tack on about 5.6 for the quarter. bond market closed early today ahead of easter weekend with, but for the quarter the 10-year yield has gained 33 basis points, and the 2-year yield since the a start of 2024 has tacked on 37 basis points. gold has been a sparkler of a win. quarter to date the yellow metal has jumped 7.5% and hit an all-time high during that time. and bitcoin right now back, at least at last check, above $70,000. indeed, $70,517 at the moment. for the quarter the crypto of record has soared 68%. but back in november -- so let's rewind the clock to 2022 -- the digital currency e wobbled and hen dove after sam bankman-fried, the ceo of cryptocurrency exchange ftx, was extradited from his luxury perch in the bahamas and hauled back to the u.s. to face charges he

stole billions from his customers. today he was sentenced to 25 years in prison for defrauding hundreds of those customers. it all a went down in federal court in lower manhattan. that is exactly where kelly o'grady is standing by live. kelly. >> reporter: i mean, 25 years, i think in this case this is essentially throwing the book at him. the max that they were looking for was 110. the prosecution was looking between 40-50. but the defense was seeking just 5-6 and a half years. so this really does send a message to sam is himself, someone who's just very young at 32, but also the broader crypto community. just a couple of notes on that sentencing, he's recommended to serve it in a medium security prison in san francisco so his family can come visit him. he's also required to pay $11 billion. of course, that is just a mere formality geffen that he's broke. -- given that he's broke. the u.s. attorney, damian williams, said this: quote, his deliberate and ongoing lies demonstrated a brazen disregard for customers' expectations and

disrespect for the rule of law, also that he could secretly use his customers' money to expand his own power and influence. now, liz, i know you've been fascinated, like me, about the trial. so i have some real exclusive color from inside the courtroom. he was monotone, he was dishevel ised, he showed up in a t-shirt and pants which was rather surprise. the big hair, it was back. it's not the clean shaven that we knew from the trial. he said sorry, but he didn't admit fault p. he also didn't seem fazed during the sentencing. he walked out without saying a word, immediately put his e hands behind his back. there weren't handcuffs, i be the way, but kind of that aoc moment where he just did it instinctively. judge kaplan, he bought none of it. he said the good boy crypto act was a lie. and one nugget, the judge really honed in on the campaign finance violations. remember, the political donations came up during the trial, but he wasn't charged on that. and when giving the sentence, kaplan repeatedly talked about how sbf was clued in enough to

buy power and political influenceful he really used that as an example that he wasn't impacted by his neurological issues. you sort of zoom out, the sentencing is not just about sending a message to sam bankman-fried, the defendant, it's also about society and particularly the crypto industry. you mentioned bitcoin is up today but, of course, we will see where that goes. liz, of course, we are expecting an appeal going forward, but 25 years, you think about the other white collar criminals, only someone like bernie madoff got more than sam bankman-fried. liz: kelly, thank you very much. all right, let's get to charlie gasparino who's got more on the clawbacks and customer funds the ftx bankruptcy court has a managed to locate. enter i was going to ask her, what is an aoc moment? if maybe she got arrested or manager? liz: i don't know, i thought of breaking bad where they're getting arrested and they put their -- >> is that a a mc? liz: yes, amc network. >> oh, interesting.

good connection -- liz: we're both wrong. [laughter] >> probably p. okay. so i spoke with some of the investors that still haven't gotten their money back like anthony if scaramucci, our friend -- anthony scaramucci, runs skybridge. liz: hasn't gotten it back. >> hasn't gotten it back, he told me. and they don't expect it for a while. i also asked anthony why do you think -- and anthony's a harvard lawyer, so he does understand in this stuff, right? he went to hard harvard law school. he's been in the securities business for years. why is it such a -- it seems like a light sentence. you know, he could have gotten sentenced to 100. the prosecution asked for 40. i mean, they -- the defense threw out something absurd at a 7, is and he said, well, the reason why it's like two decades plus is because they expect to get their money back. and the money meaning whatever they had in that account, whatever was valued at in november 2022. so remember, that was in the middle of the cryptos trading off, so you're not going to get the high, but you're going to get, you know, some valuation at

november 202. 2022. the other thing people are trying to extrapolate, you know, what a does this mean broadly, trying to be very meta on this, which we should. and, you know, whether we can trust people. i mean, i heard charles talk about that, trust the established voices. of you know, the securities markets are all over the place. i looked at a chart of amc todae amc theaters, is down 15 today. 15%. it's trading, if you put it on, you know, remember, there's a 10 for 1 reverse split, $3.60. it's really 36 cents. if that stock was -- that stock the was pumped mercilessly by people on social media. mercilessly. this was not the powers that be, these were not if famous people -- liz: well, i think at 30,000 feet you're saying it's a casino no matter or what -- >> i'm just saying finish. liz: do your work and take your

chances. >> i'm just saying if you want to look at a frauds, the meme stocks were maybe the biggest -- not crypto, but meme stocks -- probably cost more money to average investors being pumped on social media than anything else. there's always going to be -- and by the way -- liz: a fraud is a legal december designation. >> well, wait a second is. when you, when you pump something and you say it's going to 1,000 when you know they're deluding it, you know, you're getting really closes to stuff. and this is what went -- close to stuff. and this is what went on in meme stocks continuously, and the sec still hasn't cracked down. fraud in the markets is vast. there's a lot of ways -- that's caroline ellison, who he tried to blame the whole thing on -- liz: he also a intimidated her. he threatened her, if he had to go back to prison because of that. if she talked, he did talk, obviously. she struck a deal. so there are a whole bunch of issues beyond whether people get

the money back. he did that and he also violated campaign laws. >> the guy should go to jail for as much -- he's just a horrible, horrible person. remember, there are many, many, if many horrible people out there. you know, we had had had a guy on yesterday who's not horrible, we had larry fink on, greater interview that you and i did with him, and he was talking about why he trusts the capital market. there are so many ways to invest in stocks and in the future and save for your retirement where, you know, you can engage in the u.s. capital markets which which, broadly, are the safest, most efficient. and, guess what? you know, scam-free markets, largely, in the world. and you do that by not going crazy on crypto, not going crazy on meme stocks. and, by the way, the thing that made sam bankman freed even worse, it wasn't like people lost money on bitcoin. he stole their money. liz: oh, he stole it, yes. >> this not a marketplace play,

this was bernie madoff can. this is about a guy who did an old-fashioned scam. he stole. when you steal, you go to jail is. and he's going to jail for two and a half decades. liz: charlie, thank you very much. charlie charlie gasparino. bitcoin that was stolen is worth a lot more than it was then. so with about 51 minutes left to trade, the markets are closed for good friday, but fox business will be live and kicking all day tomorrow. and if a good thing, because there are two major money events tomorrow. federal reserve chair jerome powell is set to speak on monetary policy in the morning. will he counter what a fed governor christopher waller just said at an event titled there's still no rush? plus, argue a write the most important -- arguably the most important data point on inflation will also be released 8:30 a.m. eastern tomorrow. it's the core pce, the fed's preferred measure of inflation. speaking of plain facilitating, as we come to the end of the

first quarter, all four majors look to close it out with solid gains. the s&p poised to notch its best start in years. we're back in a second, don't go away. ♪ ♪ everyone's a winner, baby, that's no lie. ♪ you never if fail to satisfy, to satisfy ♪ ♪ hello, mia. are you ready to meet your demise? man, we really need to upgrade your trash talk. ♪ nice shot... shot... taker. who programmed you?! i'll see you tomorrow. the future isn't scary, not investing in it is. 100 innovative companies, one etf. before investing, carefully read and consider fund investment objectives, risks, charges expenses and more in prospectus at invesco.com. morikawa on 18. he is really boxed in here. -not a good spot.

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(aidyl) hi, i'm aidyl, and i lost 90 pounds on golo. i struggled with weight loss and weight gain my entire life. with all the yo-yo dieting i did in the past, i would lose 20, 30, 50 pounds just to gain them over and over again. thanks to golo, i've been able to steadily go down the sizes in my closet and keep the weight off. for the first time in forever, i feel in control. (announcer) change your life at golo.com. that's golo.com. >> adding this new data to what we saw early in the year reinforces my view that there is no rush to cut the policy rate. i'm going need to see at least a couple of months' of better inflation data before i have enough confidence that beginning to cut rates will keep the economy on a path to 2

eninflation. 2% inflation. fortunately, we can wait and see the data before deciding the appropriate time to start lowering the policy rate. liz: uh-oh, that was fed governor and voting governor christopher wallace, waller, rather, his speech entitled, quote, there's still no rush. yeah, that's pretty blunt. you would think investors would get the point but, no. june fed if funds futures still showing a 63.6% chance of an interest rate cut, and investor s are pricing in close to 78% chance of a cut in july sw. let's flip it over to treasuries. we already showed you the big gains quarter to date, the 2 and the 10 gaining this morning and throughout the day. remember, the bond market closed early, at 22 p.m. eastern, and as -- 2 p.m. eastern, and as we move on to stocks for the quarter, two stock surprises on

this last trading day of the month, both of them very recent ipos. reddit shares, let's look at reddit. reddit had popped 16% on its fist day, it is pulling back by 12% right now. it was last week's high-flying ipo. and djt shares, the truth social-donald trump social platform also is moving lower by 6% on the session after surging on the completion of its spac or reverse merger this past tuesday. now, as we close out the month and the quarter, what do the market gurus see ahead for all of this? so here to do it all is ceo kyle wolf. kyle can, let's talk markets and rates at the same time because stocks look incredibly impressive. the data that we've gotten -- but, or again, we're getting the big one tomorrow, pce which is, of course, the personal consumption expenditure number that the fed loves, wig e sort of -- biggest sort of inflation number for the fed, we don't know what it's going to look like, but the data so far has held up. so what kind of federal reserve

cut and when would you expect? >> yeah, i mean, we're sitting here look agent the 10-year sitting at 4.2. it's not going up or down, the markets are factoring in 75% or, like you said, 78% that they will cut rates. i mean, i don't know. i don't think they have any urgency to cut rate ifs you listen to the fed governors, but i do think the market thinks they're going to cut rates, and i think the sentiment's more important. people are going to view the rates go flat to down rather than flat to up, and i think the market likes that,s especially the big tech stocks. liz: it's almost like the fed's jawboning has not hurt the stock market, and maybe it'll do the work in the bond market. >> i think so. it's almost like an efficient market. it's settling in right here. they're getting to their 2% target rate, and i think the markets like it. liz: okay. let's talk about stocks. the s&p has, is having right now its best start to a year since 2019. what would you say has driven that? i mean, it's pretty obvious you look at nvidia, some of the s&p

winners for the quarter, we can put them up. smci, these are big tech names, correct? >> yeah. i think it's been driven by tech. you had invideonever stops g -- nvidia never stops going up, and some of these cyber security stocks are starting to take off after little -- a little bit. liz: these are the top quinners for the s&p 500. you look at some of the laggards though, we've got to bring in tesla, right? >> absolutely are. i think the evs in general have been haggard whether it's tesla down 30 or whether it's byd, down 12% i think you're seeing a lot of people say, well, maybe ev isn't next week or next year, maybe it is 5-10 years out and people are looking at hybrids more. liz: i want to talk about business trends that that you see coming up. so we had reddit. that looked like a great ipo. it's still pretty decent at the moment, i guess. as you look at a some of these other tech names that are well established, the googles of the world.

the crm ifs, some of them are announcing even more job cuts. what are the jobs picture, how is it formulating right now when we thought that most of the job layoffs were kind of last year, in the rearview mirror? >> it's quite interesting. if you look at where the jobs are being laid off, they are this traditional big tech. but if you look at the a.i. sector, you're starting to see hiring, and they can find as many ending nears as they want, but they can't find enough people that can properly code and do the unique part of the a.i.. so i think you're seeing a transition to a.i. right now. liz: some are getting $1 million bonuses just to come aboard. and they -- they've got to be a.i. experts, right? >> exactly. liz: i mean, university of southern california, usc, months ago started an entire a.i. division, and that a looks pretty prescient, does it not? you churn out these kids who know what they're doing? >> it's a great place to be. people are throwing money at these this a. a.i -- it's anything a.i. or rocketry, people are throwing money at that, and i think the i

portions like reddit -- ip if works that we'll see in 2024 are going to be more in that genre whether it's a.i. or cloud computing -- liz: well, give us some names. >> i think data bricks could be one of the big ipos this year. they just came in on a $43 billion round, right? i think a 5:automation anywhere is another wunsch -- automation ifer in. and i still think they're going to outspend scar scar -- starlink. liz: right now in the private markets people can buy spacex shares, right? >> absolutely. liz: from employees who have sold theirs on the sort of that private market at the moment finish right? >> employees is part of it, but it's also people that were early investors like myself or yourself. we could invest two or tree years ago. in 2021 you had irrational exuberance in the private marke- liz: well, last i checked, it wasn't a kickstarter, so i don't think i would have been invited. [laughter] >> reddit just did a $6 billion

ipo. spacex has gone from 100 to 120, they just did a $180 billion round, and they've been basically create liquidity events every six months for the their investors -- investors. liz: who are you listening to, kyle, because within the span of 24 hours one goldman sachs' analyst said the market best case scenario can go to 6,000, the s&p. just hours later another analyst said it's going to be tough to to go much further than where with we are right now. who do you listen to? i mean, that's the same company giving two totally different narratives. >> yeah, i've worked at some big banks like oppenheimer, morgan stanley, and one side says one thing, the other side says the other: to me, i think with the interest rates staying here and could be going down in an election cycle, big tech's looking pretty good, and they've been driving the overall market. s&p's up 8, 9, nasdaq very similar, they're almost hand in hand, i think it's because tech is leading.

you have a few names that have taken the market a lot higher. liz: kyle, have a good holiday weekend. >> thank you. liz: thank you very much. all right, or we were talking about tesla, the stock? that stock sitting at the bottom of the s&p 500. worst performer for the first quarter. is the hand-wringing over ceo elon musk's use of the -- yes, it is a pharmaceutical, it is legal, but it is also a psychedelic-like, ketamine justified? we're going to find out exactly what a it is, how it should be used, how -- how it's being used. dr. marc siegel of fox news is here. and we're bringing in rbc's auto analyst as the ev giant is leakily headed toward a delivery miss next week. in fact, he has just downgraded the delivery numbers. so we'll bring in our rbc analyst to find out why he did that. and as the owner of x as a well, elon musk no doubt eagerly watching what happens next as

congress moves closer to a vote to ban tiktok if it does not divest from its chinese parent. coming up in a fox business exclusive, the patriarch of the most successful influencer family on tiktok, the d'amelios, is here. mark d'amelio on tiktok's effects not just on young voters, but on people like his family and, i don't know, maybe yours, who have launched businesses on the platform. the dow holding on to 611 points of gains on this -- of 61 points point of gains, stay with us. each helping to protect their money with chase. woah, a lost card isn't keeping this thrill seeker down. lost her card, not the vibe. the soul searcher, is finding his identity, and helping to protect it. hey! oh yeah, the explorer! she's looking to dive deeper... all while chase looks out for her. because these friends have chase. alerts that help check. tools that help protect. one bank that puts you in control. chase. make more of what's yours.

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♪ >> there is no doubt that i would not is have found the success that i have today without tiktok. tiktok has a made me a better teacher. it's helped me to connect with people far beyond my classroom. >> think about the a 5 million small business owners that rely on tiktok to provide for their families. >> the village is always there for moms on tiktok. >> to see all of that disappear, would be so sad. >> it's going to affect people's livelihoods. >> we have got to make some noise about this so they don't take away our voice. liz: tiktok making a $2.1 million push with a television ad to campaign for the chinese-owned social media app's future in the u.s. the ad will be aired in key battleground states of montana, nevada, ohio, pennsylvania and wisconsin. yeah, maybe that's why hay had some people with cowboy hats on. to advocate for the success and connection tiktok has brought to

merge this comes -- to america. this comes as the federal trade commission has opened an investigation into the platform for its data and security practices which could potentially lead to a lawsuit against the company. all this as the senate continues to deliberate a bill that's already been passed by the full house that could force bytedance, the parent, to divest tiktok or face an outright ban in the united states. well, let's bring in arguably one of the biggest names that would be directly impacted by a tiktok ban,s the d'amelio family who has 229.1 combined million total followers across their accounts on the platform. joining me now in a fox business exclusive is the deal owe brand's cofounder and ceo, marc d'amelio, the father of charlie and dixie i d'amelio. let me guess, they didn't call you for that commercial because you're no longer a small business. you're huge. did you get a call? >> we did not get a call. no one reached out to us. early on when they were talking

about the last ban,s we got some calls, but no one called us this time around. liz: would you have done it, marc? where do you stand on this? i know you are very much somebody who has said, hey e, we'll follow the law, but what would you say to a senator who calls you and says, you know, give me a reason in. >> i mean, i think it's the number one reason is freedom of speech. i mean, the ability that every american has to pick up their phone and go on tiktok and voice their opinions on anything and what the commercial that was just on talked about how it's helped small wiz. obviously, from my standpoint, it's been an integral part of my family success over the last four years. but i stand with free speech, and i find it ironic that this is the first piece of legislation that republicans and democrats came out in favor of so quickly. so -- liz: yeah. and to have both sides agree on

something, we can look at some of the people in the house on both sides to have aisle who were 100% for this. listen, speaker nancy pelosi -- welsh representative nancy pelosi. speaker mike johnson. so you've got a democrat and then a republican. jim jordan's a republican. elise stefanik, republican. adam schiff, democrat. mark warner, obviously, is a senator. he is against it -- sorry, he is forfor it. he and marco rubio, a republican along with senator blumenthal, senator blackburn, a republican. josh hawley, a republican. they want to see this ban. how do you bring all those people together, and then you see the ones against the ban, everyone from marjorie taylor greene who is definitely a republican, senator rand paul, to chris murphy, the senator, who's a democrat along with dick durbin. >> yeah, it's it's wild. i mean, the fact that it's, you're getting bipartisan

support for a ban like this is wild. and, i mean, with all the a things going on in this country right now, this is the thing that we're focus on and we finally are some bipartisan support on is ridiculous. and i find it ironic that a country that was founded on free speech is, if this is probably the anti the sis of freedom of speech, to be able to ping. your phone and talk to the world talk to the world, wild. and i think as far as republicans, this is a great platform for them who seem to be lagging behind with social media to really use tiktok in a way to get their voice and message across are -- across. and, again, or they're just, they seem like they just don't get it. liz: well, here's what they do get. let me just play devil's advocate. as you know, i'm on tiktok doing market updates @redfoxliz, but they would say the chinese are

listening. and if we look at our biggest adversary right now when it comes to military and the build withup and the fact that they do not allow free speech in their country, the chinese are a threat. do you not see that angle of it? >> of course. and, i mean, national security is really important. but through these last two years when they've been talking about a ban, we -- i haven't seen anything that makes me concerned with what's going on. if we want to talk about overall security and making sure our information is secure, there's companies right here in america that have similar issues. so i think we all should be talking about -- we're, our family is definitely vulnerable to, we've been squatted, we've -- all kinds of things where our information has gone out in the public. so i think that is a paramount, and we should be discussing that. but -- and i think you're going down a slippery slope to ban a company or force a sale of a company. what's next? and have we thought about, you

know, what the chinese or orr to foreign governments might do to our companies? if. liz: you know, when you look at the numbers for your family, let's talk from a business standpoint. the following -- it all started with your daughter charlie when she started doing dances on tiktok several years ago. she's, of course, the 800-pound if go gorilla. she's got 152.6 million tiktok followers. dixie's got 56.3 million. you're at 10.2 million. [laughter] that's cute. but when you look at a -- can when you look at where you are total for tiktok which is triple digit millions, instagram you're at a 69 million, x you're, as you saw, much less, 3-- i guess a couple million therementing you've been expanding. i know you've been diversifying in advance of the possibility of a ban,s but what does tiktok have, what special something does it have for all business people who have started

businesses from nothing? >> yeah, it's, it's really held the barrier of entry to business. when i first started my first clothing brand, you had to go to a are retail buyer and do all these things. you can talk directly to the public through tiktok, and i think the algorithm makes it that it shows you your interest. and the for you page has been phenomenal. once you start to get -- it starts to learn your interests, it shows you more of a -- that. so for anyone in if a particular business that's interested in law or landscaping or anything, you kind of get that through your for you page. and it's the been phenomenal for small business. liz: your business, d'amelio brands, that the you have launched,you've got footwear, you've got happy snack, i'd love to hear exactly -- be happy knack snacks -- how that is going. the last time you were on the show, it was very new. >> yeah. i mean, we -- tiktok ban,s yes or no, we knew that we a had to

diversify. we knew that being dependent on social media platforms and also being in the, what i call the hamster wheel of in social media different than mainstream media, the deals seem to be very short term. so we wanted to create something that has longevity, that could a last, you know, with or without us. and we started a footwear brand that we went direct to consumer, now we're opening up retail, selling wholesale to retail locations around the country. be happy snacks, an incredible popcorn brand, and we're going to be launching other products, and we're moving into 7/eleven and albertson's when our initial launch was at wal-mart. liz: what's with the algorithm on tiktok in? i've been stuck for three years at 250,000 followers. like, it hasn't moved. come on, give me a trick. [laughter] >> yeah, i don't know. i do think collaboration is important. i mean, early on when a lot of the early tiktokers came up and started to grow, collaborating

with other people and collaborating with other people that might not know who you are, i think,ing is great. i'd be more than happy to do a little collaboration with you on your tiktok and see if we can drive some traffic there. [laughter] liz: let's do it. if the haw and the government says we're out, we're out, okay? let's make that a clear. it's great to see you with, marc. thank you so much. >> thanks, liz. great to be hire. liz: anytime. marc d'amelio. elon musk's spacex is gearing up with yet another engine test, but is the tesla and spacex ceo flying high for maybe some of the wrong reasons? that has been a question out there. we thought, you know, we have to debate this. we have a medical expert, dr. marc siegel, you know him well, next weighing in on his ketamine use. and a tesla analyst talking about the ev maker's stock performance which, as you know, we've already said in this hour it's been the worst of the s&p so far this quarter. we're coming back to talk about that when we return. ♪ ♪

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voya, well planned, well invested, well protected. liz: welcome back. investors pulling the plug on tesla today, down about 2.5% at the moment. this drop comes after three brokerages cut estimates for first quarter deliveries. rbc capital hit the tape first this morning, slashing estimates for tesla first quarter deliveries from 500,000 to 446,000. works out to about a 10.7% cut. the ev maker's stock is down 28% so far this year. let's call it 29 right now. worst performer on the s&p, and it is competing with sir is yous xm in a race to the bottom to have nasdaq 100. his leadership, at least for some is, has come into with question. some have tied that poor stock performance at tesla to his admitted use of the prescription drug ketamine p. former cnn host don lemon, who was granted an

interview with musk on lemon's upcoming, and show, brought up the issue. >> yeah. do you ever worry that this may get in the way of your government contracts and clearances also? and wall street as well? >> well, from the standpoint of wall street, what matters is execution. you know? are you holding value for if investorsful tesla is worth about as much of the rest of the car industry combined from nothing. so, you know, that's pretty good. as a i mentioned, we have the best selling car on % last year. so is from an investor standpoint, if there is something i'm taking, i should e keep taking it. liz: lemon was fired from x right after that interview. is there now a race'ses to create more ketamine on the behalf of big pharmaceuticals?

should investors be concerned at least on the tesla side? joining us now is the auto analyst who downgraded the deliveries numbers, tom ryan, and nyu langone professor of med seven and fox business contributor -- medicine and fox news contributor dr. marc siegeling. dr. siegel, let's begin this baseline fact, ketamine is legal. it's often a used for everything from depression to an thesology, correct? what was its original use, and what has that translated and morphed into now? if. >> it's a psychedelic, liz. it affects the brain and the gather receptors, causes a dissociation, happiness. it's technically a psychedelic. it was around for 50 years first as a horse track tranquilizer. they a found a use for it in anesthesia a because it can put people to sleep without affecting their breathing much, but it does increase blood

pressure, it does affect the heart and has a lot of short-term side effects. for recently it's been used for depression to break the deep cycle of depression because of those receptors i talk about in the brain. so very, very, very astute and well-trained psychiatrists can use it intravenously to break the cycle of depression kind of like shock therapy. studies have shown that that works. but as usual, it gets -- the genie gets out of the bottle, and it starts being used recreationally everywhere. over a million people using this at a various doses without any supervision can cause nausea, vomiting, it can affect the heart and p of course, the psychedelic impact of it, you could be driving a car, you could get e into a car accident. we're seeing more and more of that. it could be come wined with other -- combined with other medications or illicit discussion like cokin or speed, and you -- cocaine or speed and you end up with a risky situation. nobody if monitoring it. liz: of course, being used with

a physician's supervision. but at this point, you know, dr- elon musk has somehow been attacked for using this. others look at it saw and i concern and say, wait a minute, he has an admitted issue with depression. it has been prescribed for him, this is a legal are substance. should we be hanging him out to dry for this? >> no. that's the other side of it, no, because of what i said. i think it is very useful for depression, and if it's prescribed and monitored by a physician, i think it's a great treatment choice. i don't know about for him. i think there's nobody more successful in the world right now than elon musk in many different ways including neuralink which i'm extremely interested in, by the way. i have a problem with the illicit use on the street that can be mixed with other are drugs, used for overdoses and filling emergency rooms. he shouldn't be attacked for this at all. liz: tom, let's bring in the investor per spect every. you at rbc, i'm going to doubt,

have had discussions with your team because it's been front page in the "wall street journal," there have been members of the board who have hoped that he could be weaned off of this somehow. they've seen erratic behavior. but how big a deal is this the as it plays into how you look at the stock? >> yeah, certainly it's the not something actually the that investors that we have spoken to have really focused on. honestly, when people look at the stock, they try to understand the core fundamentals of the business. there's obviously the auto business. there's also other businesses, right? there's energy storage, a autonomy, fsd. so really investors have been more focused on the fundamentals of the company as posed to anything going on personally with the ceo. liz: you know, he has been doing interviews talking about the drug usage a in recent months. and this is what the stock stock has done over just the past month when he did that interview. i'm not saying there is a connection, certainly, but

investors can't be happy about this. do you think it's fair at all to say, well, maybe this is a piece of the issue? >> no. the stock's movement in the past month has largely been due to what we're about to have next week which is the delivery number for q1 which is probably going to be the a challenge because of a number of things happening. the red sea crisis impacted european if production in february, you had a pull forward of demand into q4 because of the ir.a. expiring and one of the key models. you know, the model 3 and the model y are kind of saturated a little bit. the new car that's going to come out in 2025, it's going to take some time. so we're in a lull between two growth periods, so we're just, unfortunately, it's just a function of near term concerns that they're going to have to cut picing, these sorts offer issues -- of issues. that's where the investor focus is. liz: marc i want to the finishing with this, the

psychedelic drug market is forecast to reach $6.4 billion by 2023 -- 2034, you've got names like johnson & johnson and pfizer in the ketamine business, milen pharmaceuticalsing other names here. everybody's talking about obesity drugs, but could psychedelic drugs really become a much bigger offering? >> that's huge. it's huge. and the one thing that hasn't been really hook ared at here which i hinted at is what's the dose, you know, we talked about elon musk, is it the correct dose, who's monitoring it, and most important ofly of all, could you yet the same impact with a drug that didn't cause the psychedelic effect? if we're talking therapeutics here and medical effects, we want something that has the medical effect without something that causes an out of body experience that can interfere with function. liz: dr. marc siegel, tom, we appreciate the discussion. thank you so much. mr. glng that is, liz.

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♪. liz: liz, we have four minutes left to trade. we have a "fox business alert."

r h.res tore race hardware on a path to restoration. the company, big furniture company, posting top and bottom line miss for the fourth quarter but the stock is up 17 1/2% because it shared a optimistic outlook for the future. hr expect demand trends to accelerate in 2024. shares are $349.04. >> holm depot continuing to build on its prose business. it will acquire rival srs distribution. it is a big one, valued more than $18 billion. upon acquisition of the building materials supplier will be the biggest acquisition in the history of the company. shares of the dow component down half a percent right now. if you're looking to build your portfolio with hammers and nails when it comes to everything else, when it comes to expert advice, our "countdown" closer

has the picks he says you should be acquiring. one billion in assets under management. stuart partners asset manager, eric bailey. we're coming up on everything, the quarter, the month, the week. it has been a nice move, has it not been, what would you be adding to this point that isn't too expensive. it has been fantastic, five straight up for markets. everyone's portfolios are near record highs. i like boring dividend plays. because valuations are attractive, and if you look at returns, very long term, schiller came out with information from 1971, if you just put money in the s&p, didn't reinvest dividends, annualize 7.5%. reinvesting dividends brings that return to 10 1/2%. i like companies that increase their dividends over time. the three i like are abbvie, big drug company, steel company,

nucorp, and s&p global. if you look at returns on five and 10-year basis they have all-out performed the index. liz: talk about the dividends they offer? >> abbvie as the largest yield, their yield is close to 4%. liz: that is juicy. >> that is juicy. plus the returns they offer are attractive. they are growing dividends. buy more shares over time you will compound the rate of return that will increase your overall returns. liz: can you give me your real reason about the fundamentals of an s&p global for example? why that one? >> yeah, s&p, a lot of people know them obviously for the indexes, right? the s&p 500. liz: correct. >> so they have a wide spectrum of -- they're also into fintech. so they're growing with their services they're offering a wade spectrum of global financial firms and they have done extremely well. liz: is there any teflon you're putting around the portfolio to

protect it from perhaps a black swan event? you. >> know that's hard to do. we really manage our clients for long term. when you do make adjustments you have to look at other factors like taxes and all of those implications. so normally i recommend diversification. if people are nervous, keep a buffer in cash, right? you can get 5% in money markets these days. that is attractive rate of return. liz: short term t-bills. >> cds. liz: starting with the number five. great to have you, eric. thank you so much. have a lovely holiday weekend. here goes the bell. [closing bell rings] as we close out the quarter all major indices claim wins. fox business open for programing. big inflation out tomorrow. powell speaking. so tune in. "kudlow" is next ♪. >> david: hello