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tv   The Claman Countdown  FOX Business  April 26, 2024 3:00pm-4:00pm EDT

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unrealized capital gains. so if you have something you bought but never sold, they're going to tax you. it's nuts and it's bogus. by the way, it does nothing for black people other than to suggest that they can do nothing for themselves, except that maybe government, government will go out there if you give them the ability to take from someone and give it to you. but we know the government won't even do that. they're the worst middleman of all time. you could put a redwood tree inside a giant chipper, the government chipper, you know what comes out on the other end? a 2x4. they gouge up all the money and they just front. so all i'm telling you is this promotes loft, internal anger and strife and the antithesis of what america's all about, growth and freedom. i hand you over now to kelly o'grady in forly claman. liz: i'll take it -- kelly: hello, everyone, i'm kelly o'grady, welcome to "the claman countdown." we love to see it, markets
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looking to end the week on a high note as they shrug off this morning's slightly hotter than expected inflation report. the dow gaining 220 point, the s&p 500 up close to 61, and the nasdaq surging ahead 330 right now. it's heading for its best day since february. it's really boosted in particular by big tech earnings. is alphabet, let's take a look at that. shares are catapulting to a record high, up almost 10% right now. that comes after posting sales and profit beat. the tech giant surpassing a $2 trillion market cap. this is the first time ever, and it's seeing an intraday gain of more than $200 billion. so if that holds, it would be the second largest one-day market cap gain on record for a u.s. company. now, alphabet also announced its first ever dividend. safe to say investors, they are very impressed. another good one, microsoft. that is attracting the bulls after topping estimates. it's up 2.5% right now.
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it all boils down to two letters, a a, i, right? that's what it always is. the company saying its cloud a.i. demand is exceeding supply. so what does that tell investors? it tells them that monetizing that space isn't a pipe dream, and that is what they want to see. microsoft, you can see, near the top of the blue chips. in fact, much of the dow is in the green right now. but intel, that is a huge sore spot on the session. it is the biggest laggard by a long shot. right now it is down after the chip maker posted a first quarter sales miss and gave a weak forecast on sluggish chip demand. intel is alone -- is also, rather, one of the biggest losers on the nasdaq and s&p 500. you can see it's down close to 10%. and as a investors weigh odds of higher for longer rates, "the wall street journal" is reporting that trump advisers are considering plans to dramatically revamp the federal reserve. so we've got a lot to discuss. let's get right to the floor show. joining me now is geltrude and company founder dan geltrude and
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the cow guy in my favorite suit on television, scott shellady. [laughter] i always love to see it of you're outdepress dressing -- outdressing me today. scott, we had that pce number hotter than expected, but it kind of feels it's not as bad as it could have been especially after we saw the huge miss on gdp, hotter e than expected flakes numbers. so tell me, the markets seem to be shrugging all this off. is this just kind of the beauty of low expectations? >> i think it's more of the short-term sugar of decent earnings. i think that we saw yesterday a shock, the market at its worst was off 750 points-ish, and i think -- part of me thought it was warranted because, make no mistake if about it, we've been spending trillions of dollars to stave off this recession. that's the bottom line. we've got -- the government's, our economy is like the plates spinning on all those little sticks on your old, you know, variety show back in the '70s.
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and i think yesterday we had a couple of plates fall off those sticks and shatter. we've got an economy that's now slowing. our gdp number reflected a consumer slowdown as far as spending. and also the good news was the government had stopped -- or at least lowered its spending. but i've said a long time on my network here, on our show here, our consumer is emulating the government. we're both spending on this doom loop spending like there's no tomorrow, and maybe, just maybe, we got to the point where we were getting sick and tired of spending other people's money. i think if you've seen a slowdown in the economy, which that number showed, and you still have an uptick in inflation which yesterday's and today's numbers showed, there is no way around that. we can have all the band-aids we want, you can be excited about $2 trillion companies, you can be excited about the earnings beats and the likes of a a.i., i think there's going to be a lot of productivity with a.i.. i agree. i want to buy some more myself. but you can't get out, you can't ignore the fact that if there is truly a slowing economy with
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steady to stubborn inflation, that is not a good scenario. kelly: it's definitely not a good scenario, scott. and actually, i just want to jump on one thing that you mentioned, this consumer spending piece. i want to bring you in, dan. i was looking, and i think you really are, to scott's point, seeing the a disconnect in this report between what's going on9 with the markets. earnings, great companies, yet we're really seeing that main street disconnect. and there was a consumer spending number, it was up 0.8% versus wages gaining only 0.5%. so, dan, what's your read on that, and how do you think that's going to impact companies as we go into the second quarter earnings? >> well, that's been the story all along, that you have inflation rising faster than wages. and if that that's where the shortfall happens. and if that's why so many americans are taking on personal
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debt. vis-a-vis credit cards. that's why we have more credit card debt than we've ever had before. now, what does that mean for companies? well, americans are certainly still spending regardless of the fact that it's on borrowed money. so on though we are seeing a slowdown, if people weren't borrowing so much we would actually be this in a stagflation -- in a stagflation situation because you would really have the economy slowing. so to me, everything that's happening in the economy is still a sugar high because it's all debt-financed. and and that's how people are spending. it's not going to work long term and, obviously, that's what scott is saying, and i'm in agreement with him. kelly: yeah. and, of course, certain people are certainly spending. visa had a fantastic report this week, am-ex the week before. scott, i know you were getting into the a.i. space, and i wanted to get your take on
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alphabet specifically, right? i mean, fantastic share buyback, the dividend, investors love to see it. the ad revenue on youtube was also great. the thing that was concerning to me though is, okay, alphabet's still investing a lot, as is meta, but i didn't necessarily see what are the products going to be, what is alpha pa bet-google's place in the a. i. space going to be from this earnings call unlike a microsoft where i think you see that's a lot more clear. what's your take, scott, on that? >> i'd argue irk bm too. yeah, i think here's the deal, you nailedded it on the head there. it's not that clear. all you have to do is put a.i. in the earnings report 25 times, and everything's going to be okay, right in. [laughter] i'm a little skeptical. i think we have gotten out over our skis a little bit with that scenario. i do think that it's going to be the new production that we're going to get from the economy, and i've been doing this a long time, i'm old. but i remember the last time
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around when we had the last time we were having balanced budgets and some budget surpluses and what really got us there was the internet boom. and sense then it's been a disaster. and everybody asks me on television for the last 25 years what's the thing that's going to beat the internet -- feed the internet boom, health care, housing? well, no, it's going to be a.i. but it's not going to be a.i. tomorrow, right? it's going to be a.i. in five years. we're going to work into this thing. and arguably in our business you probably can even ask charles payne and dan geltrude, there's been a.i. in our business for probably four or five years now with what folks have been doing with algorithms and high frequency trading. kelly: yeah. >> i think we're still so early -- it's been around, but it's not been to the retail level yet. and you're exactly right when it comes to what does that look like because i don't think they do know. others do, like you said. but i think that's going to be a vulnerability going forward, and
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we'll -- to my last point when these plates stop spinning on these sticks which i think happens just after the election, three months after the election -- [laughter] we're going to be able to ping these things if you think they're good like maybe alphabet for cheaper prices. cel key yeah, no, it's a great analogy, and i think to your point though we are going to have to wait a little bit. these things don't happen overnight. wall street likes to see them. dan, scott, thanks for your time. dan, we're going to have to have you back on to get your take on potentially trump having more of a focus on the fed if he were elected. i know that that was something you were excited to talk about. we'll have you back on soon. thanks, gentlemen. okay, let's take a look at airline stocks right now because they are mixed as boeing is still creating turbulence are for the commercial jetliners ahead of what's expected to be a record-setting summer for travelers. southwest airlines is pulling out of several airports and will limit hiring this year as it tries to minimize the fallout from some of those delivery delays. the airplane manufacturers --
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manufacturer 's headwinds impacting hiring at united airlines. a lot toty jest. who better than kelly saberi live at chicago o'hare international airport. hi there, kelly. >> reporter: hi, kelly. well, the airline southwest only flies boeing 737 max planes, and in the first quarter they reported a $231 million loss. they are waiting for approval from the faa on a smaller version of the max plane, but it's unlikely that that will happen anytime soon. let's take a look at this map because it shows where southwest has decided to end its service. the first one being in washington state. bellingham international airport. there's also george bush intercontinental airport in houston that will no longer see service from southwest as well as sur cause hancock international -- syracuse hancock international airport in new york and across the border in mexico. in addition to those four, we're also seeing restructuring in
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atlanta's hartsfield-jackson and here at chicago's o'hare. and this comes after entering 18 new the markets in the last 4 years. in a statement thursday, southwest's ceo bob jordan said in part, quote: achieving our financial goals is an immediate imperative. the recent news from boeing regarding further aircraft delivery delays presents significant challenges for both 2024 and 2025. we are reacting and replanning quickly to mitigate the operational and financial impacts. southwest said it expected 46 deliveries from boeing this geas they're only receiving 20. alaska forecasted 23 and now says it's going to receive somewhere between 10-20. and if united forecasted for 101 and expects to receive 66. now, the faa did set a limit for boeing where they can only produce if a certain number of jets which has contributed to these issues. of course; that was after the fallout of the events we saw in
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the beginning of the year with the door plug blowing out. now, united alaska did fare better in terms of first quarter losses. the only major airline to report a profit was delta. kelly? kelly: yeah. a lot of trouble for the airlines especially going into a big summer of travel. kelly saberi, thank you for that live report. okay. high inflation causing trouble at the tables. fine dining establishments struggling with food prices, labor costs, the supply chain. but it's not all bad news. the ceo of cameron mitchell restaurants is here in a fox business exclusive to tell us how he's still expanding and what customers are seeing on the menu at high-end establishments. here's some other restaurant stocks who are trading today. chipotle up 2%. starbucks, yum brands, darden all up. mcdonald's is the only one there down half a percent. "the claman countdown" is coming right back. ♪ if. ♪
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kelly: well, the fed's preferred inflation gauge, core pce, the lowest in three years. remember, march cpi data showed when it comes to eating out, consumers are not feeling it. cameron mitchell, the founder and and ceo joins me now. cameron, it's good to have you here. you just saw those numbers, 4.2%. i mean, dining out, that is outstripping that core inflation number. so i'm curious, are you seeing some of that reflected in your own data? are customers if pulling back at your restaurants? >> they're starting to. our customers, our traffic count still the same, basically, and we're back to where we were pre-
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pandemic in terms of traffic counts. our check average is starting to come down a little bit, people are trading down a little bit, one less appetizer, etc. but all in all, it's holding on okay. we typically have taken about a 4% price increase a year. we try to take 2% in the spring and 2% in the small fall. we only took 2% last year because we felt we had reached towards the top scale, and we've only taken 32% this year -- 2% this year thus far. we're trying to hold our own in terms of pricing growth although during the pandemic we had to take some 6 price increases or even more just to try to stay afloat. kelly: sure. well, you know, i want to double click on fine dining because you mentioned some of your brands on the higher end. ocean prime, of course, is one
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of them. my husband and i have gone for celebrations and what not. i also have to say your cocktails, bubbles and berries, my favorite across i think every restaurant. i feel like a disney if villain when it bubbles like a potion. but like i said, we go there for celebrations. i know also ocean prime, it's a big business, dinner and lunch spot. so how are you seeing your fine dining segment react to this? is it still holding strong or are folks maybe coming in less frequently? >> a little less frequently. it depends on the location. like, urban -- by way of example, our new york city location, you know, we used to be packed monday through friday lunch. now lunches on monday and friday are a little softer. still very strong, normal tuesday, once -- wednesday, thursday. we've got a little erosion there. new york as a restaurant, same
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store sales last year was even, 23 to 22 and down slightly so far this year. but it just depends. our suburban locations are are a little stronger. they haven't seen that much dip in lunch traffic or midweek traffic versus a year ago. so it just kind of depends. generally speaking though, the or urban locations with the office reduction of people in the offices is where you're seeing that drop in sales. kelly: yeah, it's a good point about the monday and friday, right e in those are the days that are more remote. i want to talk to you about what you've seen in the terms of the cost. i know 2023 your profit was down 2-3%. what are you seeing in 2024 when it comes to cost of goods, when it comes to labor? i know we've seen a lot of restaurants that have been reporting earnings that labor's been a big, big squeeze for them. >> yeah. labor has gotten better. for one thing, let me just say for a minute here our labor
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costs have gone up the past five years about 40% -- kelly: wow. >> -- which is the new norm where maybe our prices have gone up 20% over that time period. but it's good for the industry itself to have our people out there, you know, making more money. so i think that's kind of a silver lining in that regard. the one thing that's good about labor is, you know, what we were seeing in '21 and and '22, labor rates going up 10%. we're back down to a more normalized 5, 6% increases in labor costs. we have, we're back above pre-pandemic labors in terms of, you know, staffing. so overtime has been to longer an issue for us, turnover is no longer an issue for us. we're back down to, you know, our record low normal turnover. so it is kind of a mixed bag. yes, it's still more expensive than normal, but some of the other issues with labor have settled down, so i'll take that
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as a win. kelly: sure. and just quickly, i've got about 15 seconds, i know you're expanding. you've got a number of restaurants opening this year. how are you thinking about expansion in the future with higher for longer interest rates? >> -- a long lead time on our expansion, up to two years, so right now we're working on 2026, and we're being very cautious at this point in time. kelly: okay. >> we've got to get what we have current on the books, you know, open and see where we go from there. so we're taking it very cautiously optimistic approach -- kelly: makes sense. >> -- for '26 and beyond. kelly: cameron mitchell, thanks so much. great to see you. >> have a great day. kelly: thanks. you too. the city of brotherly love opening its arm toss a high octane competition for the first time in more than 40 years as the home of the eagles is filled with a totally different type of pay dirt in the if end zones. jeff flock is live in philadelphia. jeff, looks fun out there. >> reporter: they're going to
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fly like eagles tomorrow. we're on pit row right now. as you can see, they're getting the bike withs ready for the supercross race tomorrow. back in a moment. some incredible pictures of people flying through the air on these machines. stay tuned. ♪ ♪
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kelly: well, we are less than three hours away if the second round of the nfr draft. i am die -- f -- nfl draft. it is already shaping up to be a historic time for the league. the chicago bears, they selected usc quarterback caleb williams with the number one overall draft pick to start off the might, and according to adam scheffer, williams actually broke the fanatics' record for draft night merchandise sales for any draft pick in any sport. remember, that was record recently broken by caitlin clark just last week with. but while fans of the philadelphia eagles keep a close eye on who the team's going to pick tonight, the eagles' home
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turf looks a little different today. jeff flock is inside if lincoln financial field where the city of brotherly love will host the monster energy supercross series for the first time in 44 years. jeff, what have you got for us? >> reporter: behind the scenes on pit row. this is yamaha racing's trailer or. it's kind of like nascar, in the a rolling garage on wheels for these racers, bike racers. and, by the way, yamaha racing, look at all number ones on there. this is the most successful team of any in the last 10 years. i've gotten jensen handler who's the manager of of this team, and and as we talk, jepsen, i want to put pup those pictures from the drone. take a look at these pictures of what the guys are doing out there. we talked about the athleticism. we just talked about the nfl draft, kelly did. these guys are athletes bigtime. >> oh, absolutely. they have to perform at the top level. that today run max heart rate the entire time -- >> reporter: they're flying through the air.
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we talk about this is the home of the eagles. yeah, today no kidding. >> yeah, absolutely. they've got to jump triple jumps and, you know, navigate rhythm sections and what not. and, yeah, they're flying through the air -- >> reporter: back here lye, what is this? if -- live, what is this? >> this is a yz250f, 250cc bike obviously set up for for racing, suspension, stiff suspension, obviously, to be able to navigate this track. >> reporter: i tried, kelly, a little bit of this. by the way, take a look -- i don't want to turn my back to you for no good reason, but look at that. i'm not going to be racing tomorrow. don't worry. we have some pictures as they tried to teach me how to ride. jensen, this is the not easy. i mean, this -- talk about athletes, these guys are crazy. >> yeah, absolutely are. i mean, to perform at this level, yeah, they've got to be a little bit crazy -- [laughter] >> reporter: and talented and great athletes. >> yeah, absolutely. i mean, these kids start riding
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dirt bikes when they're 2, 3 years old, and they work -- >> reporter: the popularity on this, because you had 67,000 people at a stadium, at at&t stadium in texas, is that right? >> we absolutely did. filled it up. we've been filling up stadiums all year. it's been great. >> reporter: kelly, i'll leave you with pictures of the guys working. the gentleman back there is working on something back there. >> yeah. he's getting it cleaned up. we did a short session this morning just for, you know, get used to the track and what not. allowed, you know, venues like yourself to get a little bit of footage to use, you know, to promote the event. >> reporter: you made me a, you converted me. i'm a bler. i rode a bicycle, a motorcycle maybe twice or, kelly, and the last time i went around a turn and laid it e down on the ground, and i was picking gravel out of my knees for the next month. i'm going to leave it to the professionals. tomorrow they'll be out here in philadelphia flying through the
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air. in a good way. [laughter] kelly: jeff, how fast did you go when you were trying that out yesterdays? >> oh, how fast did i go? how fast do these guys go? >> upwards maybe 40, 50 miles an hour. >> reporter: yeah. i was going maybe 670, 80 -- 60, 70 -- kelly: of course. need for speed. >> reporter: -- can inches. kelly: you're seeing pictures of jeff. you are braver than i am. when i ride a bicycle, i fall if over. i'm going to leave that a to you and the -- >> reporter: you and president biden. you're in good company. [laughter] kelly: yes. president biden and i, you know, a bike is hard to ride. all right, hanks, jeff. appreciate it. okay, let's get to this fox business alert. shares of cybersecurity firm rubric actually falling at the moment down .2%, well off session highs after debuting on the new york stock exchange yesterday. remember, we spoke to the founder e and ceo on the program yesterday. the company's shares were priced at $32 then rose 15.6% to close
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at $37 if on the first day of trading, just below that right now. skechers usa stock stomping up to a record high. the sneaker maker raised its full-year financial guidance and posted a strong first quarter result, web bush raising the price target to $6 a share from 68 -- 76 a share. and investors snapping up shares of nap khat's parent company, snap is on tap for its e largest percentage ine crease since 2022. the targeted ads and features helped defeat wall street expectations for first quarter we've knew and user growth, snap also forecasting second quarter revenue above analyst estimates. that being said, shares of hospital operator hca health care, they are falling. you can see right now down 2.5%. that's despite a first quarter profit and revenue beat with. hc left its annual forecast unchanged and analysts say that may disappointinvesters who have bid up the stock 41% over the
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past six months. shares of tenet health care and universal health care services, tenet down .if 75%, universal up 1%. coming up next, anti-israel protests spreading to new college campuses across the nation as a israel's war with hamas is on the verge of a new stage. one idf soldier is fighting to defend her nation in her own unique way. she went from the beauty pageant to the front lines and joins us next in a fox business exclusive. now let's take a look at the big board. amazon up along with the rest of big tech, sitting at the top of the dow 30 heat map. it is up, ooh, 3.5%. "claman countdown" is coming right back. ♪ ♪
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kelly: okay, let's get to this breaking news. pro-palestinian and anti-israel protests spreading on the nation's college campuses. you're looking live at the campus of george washington university where students are protesting right now in favor of palestine. student activists demanding action from their universities, trying to force them from doing business with companies tied to israel or others who profit from the war against hamas. columbia university, of course, has been a hot bed of protests. today a pro-israel rally took place e there near the encampment near the quad. the university is in negotiations to end the activism. fox news' steve harrigan joinses us live from columbia university in new york city. steve, what's it like there? >> reporter: kelly, the administration has set deadlines as to when those tents have to be moved out. those deadlines, toe, just keep coming and going. the tents remain on the main quad here. there's a real question whether or not they're going if to be
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able to hold their graduation or not. negotiations are underway. administration officials say they're not going to call in the new york police department to pull those tents down. as far as george washington university, a disturbing sign today there, one of the protesters in with the students was carrying a sign that had the phrase final solution on it. of course, that was a nazi term for the mass slaughter of jews during world war ii. and as the unrest continues on campuses across the country, many are drawing a line between free speech and hate speech. >> university is a time where you go to college, you can talk about any issue, open dialogue. but when you see students yelling at the columbia campus to a jewish student go back to poland, when you see someone saying october 7th going to happen to you, that's not okay. >> reporter: usc has already had to cancel tear main graduation for security concerns, and for a lot of those seniors, this comes four years after their high school
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graduations were canceled due to covid. kelly, back to youful. kelly: shocking images that you just shared with us. thank you for that live report, steve. okay, so as anti-israel protesters continue to show decan fines on column a ya's campus, israeli defense forces was also protesting for the release of hostageses still being held by hamas. the idf medic served on the front lines of the israel-hamas war since october 7th treating wounded soldiers and civilians while she was participating in a rally for if israel on march 30th in times square, noa was actually assaulted by a to-palestine the protester. a demonstrator threw her down, her israel flag down, rather, and hit her in the face with the end of a flag pole. she joins me now i in a fox business exclusive. n to oa a, thank you for being here today and sharing your experience -- in noa. can you just take me back to that moment when you're in times square and one of these
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protesters, you know, throws your flag to the ground. what were you feeling in that moment, how were people reacting? >> i feel like the first thing is i just saw his hate towards me. like, this person has no idea who i am, he's never met me. all he can see is just the fact that i'm israeli, that i am jewish and just, like, i saw the hate in his eyes. and so, like, awful to me. just like when i look back at this moment, it took me, like, a few days to get over just the fact that someone hit me because i'm jewish. kelly: right. >> just things like that happened years ago in germany, and we can never, we just, we can't let things like that happen. kelly: how did anyone that was around you react? were they shocked that something just so visceral happened right in front of them? >> yeah, they were shocked. i was there with a lot of
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israelis, and they were all actually trying to protect me because i was the only girl there. and then all of a sudden he just came and hit me, and everyone was just shocked because there's so many, just so many people there. just why use violence? everyone was, like, very confused. kelly: so you were at the rally today. in support of bringing the hostages home which i think often it now feels like it's getting lost that there are still people who are being held. but you've also been on the front lines, you know, you've treated idf if soldiers. you have treated wounded civilians from gaza. do you think if these protesters like this person who attacked you saw what you've seen, if it would impact their behavior, their point of view at all? >> i hope it will because actually when we were at pro-palestinian protest, a lot of them recognized me and were,
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like, calling me names like miss epogen side is, miss baby -- miss genocide, miss baby killer. they don't know that israel will do anything to not hurt civilians of every combat med ific in the idf taking an oath to save every person's life no matter if he is a loved one or if he is an end enemy. and we treat thed -- the combat medics treated palestinians and gaza civilians. and if these people knew that we, i never participated in any, like, activity or something and i had weapon on me just to protect myself if something happened, because after october 7th, everyone should have the right to protect themselves. especially if you're in gaza and close to the border. so i feel like if these people knew that israel is literally doing anything and if they saw what with i saw, so many even people, gaza civilians that we help them were cursing.
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and you imagine if, like, we are helping, we're providing medical care to people that don't really have a lot of medical care right now -- kelly: right. >> -- and they are just treating us badly because of the fact that we are from the idf. kelly: yeah. so, you know, i think one of the frustrations, i'm sure the criticisms that you're hearing all the time, not just you as a medic, rights -- right, but why israel is continuing. and there are civilians dying in gaza. and, you know, not all civilians in gaza are hamas terrorists. so what's your reaction, and what do you want to say to those people who have that perspective? >> i want to say no those -- to those people that we should always remember that right now there's hostages, 133 hostages that are being held for seven months already, 203 days, and they're being tortured, starved. these -- we don't even know if they're alive because hamas
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won't provide anything about them. can. kelly: right. >> and the thing is that every should know that once we will get our hostages back and we will remove hamas from power, everything will stop. we didn't want this war. we never wanted a war. we want peace, actually. israel always tries to make peace with, like, our surrounding countries. expect fact is that these people need to know that we never wanted this war to happen. all we want is our hostages back. it's been way too long. we really need them back home. we need to bring them home. kelly: you know, you have such a diverse background. i myself was a pageant queen. i understand -- [laughter] the power that your voice can have. i'm sure it's never something that you expected finish. >> yeah, never. kelly: -- with the title of miss israel, but being able the use that and your experiences to send that message of peace,
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appreciate your time today. >> thank you very much for having me. let's bring them home. kelly: yes, well said. okay, well, coming up next, the challenger to democratic senate elizabeth warren's seat in massachusetts, he's filed a brief in the coinbase case as he pushes for clear crypto regulations. he's going to join us next with charlie gasparino. ♪ muck ♪n. ♪ but he is an “i can solve this in 4 different ways” person. you need clem. clem needs benefits. work with principal so we can help you with a plan that's right for him. you know what i'm saying? let our expertise round out yours. i was only 23 when i was first diagnosed with non-melanoma skin cancer. 40 years later, i've had almost 20 mohs surgeries. i had just accepted that the pain and the scars were going to be part of my life. but when i was diagnosed with two basal cells on my face, i became determined to find an alternative to surgery. if you, like millions of others,
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kelly: the $2 trillion crypto industry is refusing to back down in its bitter battle with sec chief gary gensler and the security and exchange commission over the regulation of digital assets. so the u.s.' largest crypto exchange, coinbase, has filed an appeal in a manhattan court to resolve the biggest legal question facing the industry, cryptocurrency transactions considered securities. massachusetts senate candidate john is deaton, who's fighting to unseat elizabeth warren in no, filed an amicus brief in support of coyne baste 's appeal and he joins me along with charlie gasparino. charlie, i'm going to bring you in first on this, you've been covering this. >> yeah. and i'm going to bring john in because he's the guy people want to hear from, not me, especially on this. john, you know, and we're going to get into the amicus brief and coinbase, but i've got to ask
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you about this campaign. how is it going? how are you raising money? if obviously, being associated with crypto as much as you are, you know, you're kind of a folk hero particularly to the xrp if community that's helped you raise money. is it working in polling and all that? >> well, thanks, charlie. thanks for having me. listen, you know, i've been a federal prosecutor, marine lawyer, 22 years as an asbestos the lawyers, but they all want to pigeon hole me as a crypto lawyer, but i've been fighting for the individual retail holders, small investors. campaign's going great. we outraised elizabeth warren in the first quarter and i only had half the quarter. i've got voters coming up to me, democrats unenrolled, republicans all excited about this race. i'm going to unseat senator warren, trust me. we've got to get rid of gary gensler, and i'm going to take care of the senior senator from massachusetts. >> okay. and i know people in the crypto world -- not saying me -- would say from your lips to god's ears. but you've not to win first.
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one thing, you know i've sat down with you plenty of times, what is your campaign about? or what are your main -- what do you care about? and what makes you, differentiate yourself a little here between you and elizabeth warren. >> well, i actually think that elizabeth warren is the crypto candidate, carly. when i got in this case, i represented for 22 years working families in massachusetts. i've sat at their kitchen table, so i know what the issues are; illegal immigration, a debt crisis, an opioid crisis, housing shortage and pricing issues. we've got inflation on prescription if drugs and groceries, foreign wars that are on the taxpayers' wallet. all of that's going on. and elizabeth warren is focused on crypto. i'm focused on those the issues. and so that's what the campaign's about. we have a crisis in this country, charlie, a crisis of leadership, of washington heats like senator warren -- elites dividing this country, and i'm going to show the voters there's a different way to do it, there's a way that uplifts people, not tear them down k. and i can't wait to do it. kelly: john, i'm going to jump
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in here for a second because i think this question of what cryptocurrency is, you know, the brief that you filed, where do you come down on this? >> well, i come down on the fact that american innovation should be regulated safely and securely, but you don't ban new technology that's disruptive, right? you look at elizabeth warren's latest bill, it was written by the banking institute policy of the united states. that's the senator who promised to go hold the bankers accountable, and now they're writing her bills. so whether cryptocurrency is a good asset or it's going to fulfill its promise, we don't know yet. it's not about crypto, it's about freedom. and i got involved because we had an sec that that had its neck on american innovation, and the individual retail holders were the ones, you know, getting screwed over, to be candid. kelly: yeah. >> and, john, let me ask you this. what type of republican are you? are you a maga republican? are you a conservative?
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you know, old school conservative republican? you're certainly not a country club republican. i've been with you, you're an ex-marine. explain your political philosophy a little bit. >> listen, i am a centrist, pod rate republican. massachusetts voters, they know someone, former republican governor charlie baker. if you had to compare me to someone, you could compare me to him, a centrist, fiscally responsible, socially moderate. but i'm my own person. there's no candidate like me, and that's why elizabeth warren keeps talking about me, charlie. you did a segment on why is she so afraid of me. >> is she going to debate you? >> what'd you say? >> john, is she going to debate you? >> >> she's going to have to. she debated the last two candidates, and right now i'm issuing a challenge, let's have at least 3-5 debates, senator warren. let's give the people a real chance to compare our credentials. she won't do it because she knows she's going to lose every im. kelly: -- every time. kelly: gentlemen, we're going to
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have to leave it there. appreciate your time. >> thank you. kelly: o.k. hotter than expected inflation data continuing to push out the timeline for rate cuts, higher for longer interest rates surgeon hi hurting home buying, but are they also impacting home improvement spending? joining me now is e, gfi ci, ed slidell. i've got to ask you, by the way, you're not the only countdown closer this week that has a picked that that stock. why? do you really think that the renovation space is going to be hot this year? >> you know what? i do just because rising interest rates, you know, it's the housing market is really tight. but the reason i like lowe's is they're really -- they've added a whole new vertical to their strategy. so they're really going after the contractor space. it's always been consumer based, the diy-er folks like myself who like to do their own home improvements. but now they've added that whole additional vertical of contractor. so i think they really have the ability to increase their
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revenues over time. kelly: i buy that thesis, right? if you're not able to go out and buy a new home, you don't want that higher mortgage rate, you're going to do some projects around the house, make your environment a little bit nicer. i also want to get your take as we're going into the fed's rate decision next week, likely going to hold, right? if where do you think investors should be putting their money? if are there safe spaces amidst all the volatility that we've been seeing in the market? enter you know, as far as safe spaces, look, i really -- i truly e like hard assets. i like precious if metals, you know, gold and silver, you know? and as far as safe spaces go, short-term treasuries. but, you know, there's still the really good buys out there. there's some really good values. and if you do your homework, you're going to be able to find them. industrials, i think, right now is a really good sector to look at. and if you do your homework, i think you're going to farewell especially as we continue to -- fare well especially as we
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continue to see this pullback. i wouldn't be surprised if we see a little bit more of a pullback before the fed announcement. kelly: yeah. i've got about 20 seconds, api group. why that? >> yes. great management team, fantastic e balance sheet. you know, they continue to i grow organically and increase their market share. so i love the management team because, you know, a storm's brewing, and they're going to be able to weather the storm. kelly: yeah. good management especially with all the uncertainty we're facing, always something to look for. ed city dell, thank you. let's take a look at the markets, dow up two weeks in a row as potts tech earnings top stubborn inflation and markets end the week on a high note. the dow up71. monday -- 171 is. monday senator mark warren. "kudlow" is next. ♪ ♪ hello folks, welcome to kudlow. i am larry kudlow. president trump in court today

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