Looking at one of the close e races to a fresh s p record. All the s p needs to mark a new if high is a tiny fraction,. 02 points to the upside. Right now were up 5. 75, so were there. Now, yesterday it missed it by a nanoinch. Right now we do have it in there, so youve got to stay tuned the whole hour. Hour. The rest of the markets in the green, mostly. The russell is the laggard, down about 5 points and after yesterdays nearly 2000 above 200point drop, the dows up a bit, up 25 points. Any gain for the nasdaq would eclipse the record and throughout much of the session lets look at the nasdaq intraday, its kind of poked both above and below the flatline. But with about 59 minutes left to trade, its in the green by 13 points. So were looking at a record at the moment. The two notable nasdaq stocks blasting to never if before seen heights, microsoft, number one of them, touching the highest level invest orers have ever seen. High of the session, here we go, we do have microsoft at is that correct . All right, hold on. I just want to check something. Weve got it at 429. 38 at the moment, but the high of the session, 432. 97. This after the company unveiled the new surface if pro and laptopses at its build conference, jam packed with a. I. Features and powered by Qualcomm Snapdragon x heat trips and and thats concern chip, and thats number two. Lo and behold, qualcomm also rocketing to an alltime record. Benchmark and rosenblatt hiking price targets to 240, right now qualcomm is 2000 and change. Perhaps the markets moves are just a bit tentative due to the fact that that we have seven fedheads out and about speaking today, sick of who are six of whom are voting members of the Interest Ratesetting committee. Five have already made their remarks, were waiting on two others. Most notable so far, governor chris waller who held rate cut hopes at bay when he said morning he needs to see several more months of good, meaning slowing, inflation records before hes ready to give a thumbs up to any rate cut. Still, though, markets are up. Bond yield withs down slightly with the 2year yielding at the moment 4. 42. We do have some investors moving to lock in longer dated treasury, the 10 year down to 4. 48 . But what may be the strongest nearterm catalyst for stocks, nvidia earnings out after the bell tomorrow. Shares of the a. I. Chip leader were in the red early part of the session here, have punched up just by about a actually, flatline at the moment, had been higher. We do have it gaining an empressive 9932 year to date 92, 204 over the past year. And while the market may be waiting on nvidia to see whats that going the to do, should it affect the entire market, should investors be waiting on insid ya or be making some moves right now . Lets get to the floor shocker joined by Goldman Sachsic bity Portfolio Manager greg to have toe, he is here on set. Are you the al qaeda of kind of guy who says, ooh, lets wait to see what nvidia does . Not. I think theyre, for us, we have a number of name names that we like in the chip sector, so i do think they will benefit from the field that nvidias plowed so far in the a. I. Space. We like space a lot, i think theres going to be a lot of chip production in the United States. We also think that some of the new next generation node ifs of kip manufacture being will take advantage of some of these chip manufacturing will pick advantage of some of these small perrer companies that can handle the niche of production. Liz you mentioned small caps. Right now the bigger indices are moving to the upside. Nasdaq and the s p at record highs this moment, but the russell has also actually month to date caught up. In fact, its beating the dow gains and the s p gains this month. What what does that tell you . If. You know, i think that we needed to see some rate certainty for a very, very long time. Of its been a bit of a, you know, kind of one step forward, two stepses back as we waited for inflation data to calm down. I think we started to get some with the most recent cpi print. I do the hi youre hearing a lot, as you mentioned, from the if fed speak pers that are out there, but i dont think its changes a whole heck of a lot. The inflation kind of rate is moving to a level that i think they can be comfortable with, at least cutting once before the end of the year. And maybe we get two, but i think the rate, the percentage chance of having a rate reduction before the end of the year is over 50 at this point. Thats a good sign for small caps. Liz a guy like you, Goldman SachsAsset Management equity Portfolio Manager, when there are seven fedheads, we can put them up. Again, five are voting members, out speaking i didnt say yammering, speaking [laughter] today. How closely do you listen to Something Like that . What you look for is anything thats different from the chair powell speaking last, you know, after his last system testimony. Liz and did you hear anything . No. Its the really just a lot of filler, in my mind. We know where the direction the of things are, and i think weve been pretty comfortable i that what were seeing from the companies is more in line with what were hearing from the inflation data thats out there. Liz okay. Im checking the s p once again, record territory or, folks, right now. Let me get right to the floor of the New York Stock Exchange for a moment and peter tuck pennsylvania. Peter, is the the peter tuchman. Is the market looking healthy or toppy to you . Healthy to me. Obviously, we have got all this fed chatter. The markets were upset about it a few weeks ago, they were speaking out of all different sides of their mouth, they were not coming back with one clear message, i kind of think that the youre looking at a 72 chance of one cut for the year. Theyre comfortable with that right now. The market seems to be forging the on. We hit up against 40,000, we back off. Thats kind of unhealthy for our recovery a little bit, but it seems like theyre looking to find spots to buy this market and surely not to sell i. If they wanted to sell it, theyd have plenty the of opportunity. Nvidia kernings tomorrow earnings tomorrow it seems healthy to me. Liz can i just say though that bank of america just did a survey and,s ins is sense, it says investors are most bullish on stocks since november of 2021. That makes some people nervous because they look at the Retail Investors now piling into a ship that might already be a little bit overloaded. You know what . Its funny, its when youre like the taxi cab driver starts asks asking you about what he should is start investing in, thats when its time to start worrying about the market. Theres a whole new generation of young Retail Investors. I think people are putting money to work. Theyve not had an opportunity to buy anything on sale. The first month we saw when there was any kind of a sale was in april after a really spectacular first quarter. April was a healthy 10 pullback. It did not break down any further than that. That whole selling thing did not come together. Theyre looking for opportunities to buy liz liz yeah. And people panicked in april. Everybody calm down. But, greg, peter just mentions that youve got some younger investors out there looking for naval names. And the valuations of the bigger names are very heavy at the moment in some cases. The maul and mid ifcap the small and midcap name p goldman has a smaller mid cap etf. That, to me, is an area where if you pull it apart, you can kind of tease out some of these names. Names that a weve covered, cava, the health food fastcasual restaurant company. Tmdx is in there, transmedics. You still dont think even though they have hit these 11year highs hat valuations are still good . I think one of the things that that peter mentioned was if you go back to november 2021, you started to see earnings estimates really start to go down for 24 and 25. Were starting to see them go back up. As long as the earnings picture especially for those companies is continuing to go up in the right direction, 2024 and for 2025, we dont think that this is a danger zone at all. And we do think that the 52week highs are more reflective of these increasingly better fundamentals that people willing to price into the small caps. For a couple of years, or they were not willing to do that. His liz i find this all really interesting because as greg, peter, pecks out these names of the smaller caps because they know some of the better fundamentals that are in here, youre looking at the broader market. I need to ask you as a seasoned trader what is the one metric, pierre, that you are checking peter, that the you are checking every single day that would give you a flashing red signal indicator . You know, its so hard this market, one day at a time. I think we need to disengage so much of the chatter. I think the fact that were getting these mixed messages from the fed makes it a little bit scary. I think the market is being fueled by somewhat of the retail investor, somewhat look, these valuations, yes, they seem a little frothy, but weve been trading at record highs week after week, month after month for the longest time. And whenever weve had an opportunity to really sell this market, theyve not taken advantage at all. So i dont know what metric to look at [laughter] except, look, were in the middle of two global wars that are huge. Weve got an oil market thats really going through a lot, and weve got this Interest Rate and inflation story thats constantly giving us stuff to worry about. The Economic Data is being finish were being barraged by it on a daily basis, and yet the market just continues to hold its ground. So, you know, look, anything can happen. You know . Im not here to tell you if its going to go up or down. The only answer to that question is, yes, it is. [laughter] liz yes, it is. Dollar cost average. Buy the market when its high and low and every time youre going to do well over time youre going to do well. To recap, microsoft hitting an alltime record as it kicks off its annual adopter conference. A. I. Chip behemoth nvidia reports earnings tomorrow. That is going the to be a big one, folks. I remind you, its not how the mark opens, itll be how it closes. And fed governor chris waller says he needs to see several more months of weakening inflation data before he can even consider easing monetary policy. Were taught lot about a. A i. . Scar jo a tax on the king of a. I. The Hollywood Alister infuriated the9 chatgpt maker sam altman a appears to have copied her voice for its new a. I. Up assistant even after she refused to give him a licensing offer. Did scar jos no just upend the power balance between the tech and hollywood . A. I. Investor and palantir cofounder joe lonsdale is standing by live. He is going to weigh in. And and speaking of artificial intelligent, bank of america coming out with a note saying dingal Infrastructure Company veritive is the real a. Lyft darling up, are you ready for this . 504 over the past year. Maybe a little bit more, 526 . The claman countdown is coming right back. Weve got so much more to talk about, stay with us. With gold and copper prices pushing towards all time highs, us gold corp. Offers investors leverage to both gold and copper at its project, and mining friendly wyoming. U. S. Gold corp has a reserve of almost 1. 5 million ounces of gold equivalents. Permits to mine zero debt with only 10. 73 million shares outstanding and a portfolio of world class american Strategic Metals assets. U. S. Gold corp, join the golden age. Liz well, the convo between scarlet johannupson and openai must have gotten lost in translation. Openai tried to bring the movie her to life, a man who falls in love with an a. I. Assistant voiced by johansen, has accused openai of using a voice similar to her own for its gpt Voice Assistant named skye. Even as scar jo said no to an offer by sam altman. Well, the actress issued a statement saying, quote, last september9 i received an offer from sam altman who wanted to hire me to voices the 4. 0 system, and after much consideration and for personal if reasons, i declined the offer. When i heard the released demo if nine months later, i was shocked, angered and in disbelief that mr. Altman would pursue a voices that sounded eerily similar. Similar. To mine. The openai Ceo Sam Altman firing bark quote the voice of is not Scarlett Johanssons, and it was never if intended to take after her. Nonetheless, the the chatgpt maker has paused the use of skye in its products, but the scuffle brings fear surrounding the use of name, image and likeness without consent to the front burner. Are laws against using peoples voices and image next . Joe lonsdale funds a. I. Companies, the palantir cofounder joins me now in a fox business exclusive. Joe, i cant wait to hear what you think about this. What do you make of this sort of clash of the titans of tech and hollywood . Well, you know, it was actually funny, weve been working with hollywood on Different Things for about 20 years, and it always ends up being the case that the people in l. A. Think theyre most of the value, and theyre only tiny part of the value, now that being said, this is up the lawyers to decide. The bigger story here, liz, is that you have a technology thats just completely transforming our economy, and if we allow it to in the right ways, in health care and 40 logistics and, you know, so many other areas, were going to make things so much more efficient to help everyone, and education, of course. I think the bigger question is lets make sure we dont stop this technology from doing the good things it needs to do. Weve still got to follow the law and contracts. I guess the only one who benefits from if this silly fight is a bunch of lawyers who decide if they did it or not. Liz interesting point but, yeah, the guardrails are needed. The last time you were here we were talking about talking about the 200 singers, everyone from jon bon jovi to Billie Eilish to the estate of frank city9 gnat rah who had signed an open letter letter saying stop ripping off to our voices ask and stealing our voices. And you had said, you know, this country has bigger problems to deal with. But you also said we need some laws here. Scarlett Scarlett Johansson has been a pretty strong voice. She took on disney when they tried to release the black widow movie first on streaming and that wasnt in the contract, and she won. It just feel like were getting very close to a law. What should that law look like in your opinion . I love she has a strong voice. I have four daughters, and i think women should stand up for therms when theyre taken advantage of. In this case its not clear thats what happened. There are lots of things with voices that sound similar, and thats perfectly allowed. I think it should there probably should be something where if youre going to use someones voice as inch put, you know, their likeness, theres probably trademark rain copyright laws i think that already exist, and she shouldnt be able to put that on a brand or brand or promote anything something but if something sounds similar, it liz not different than a patent for exclusive technology. Youre a tech guy and you fight very really hard finish. Thats a misconception. And im glad you said that, because the vast majority of time when youre dealing with patents, youre mostly dealing with patent troll it is. In my experience having come up with lots of Different Things, actually dont think Software Patents should exist, theyre needed maybe in certain bio areas for certain they are therapeutics and molecules, but the vast majority of patents are actually the lawyers are canning people p. Liz , that i know. Youve got to be very careful in this country, you know . Liz this country is facing, as we perfect to something that is near and dear to your heart, a very upsetting time amid these protests on college campuses. Obviously, of we have seen it spill over to the graduation, commencement ceremonies. Just yesterday yale had a bunch of students turn their backs and walk out. They a staged a propalestinian, prohamas walkout. I guess they didnt want their, they didnt want their diplomas. But that said, this is really sweeping across Many Ivy League schools. University of michigan. Its not just ivy league, ucla. You have started university of texas at austin because you have felt that colleges are not educating students in the right way, they are too woke. You now have a hundred students who are sign us and signed up and ready to start their education in the fall. How will university of austin at texas the be different . Yeah. So university of austins a private university in texas, and, you know, listen, liz, a lot of these kids, this is a lot of moral if confusion in our country. I think we have a culture where youre not allowed to actually debate these things openly, youre supposed to already have the answers and yell at the other side. These kids probably never if even heard the other arguments, they dont believe there are other argument9. I think you need to have universities to teach people to the listen and to debate and to realize you dont have all the answers and to actually pursue truth. And, you know, i think there should be critical thinkings crasses where you have to make the argument for the other side to understand them. I dont think these kids have gone through them at all, and its very sad. Theyve been brainwashed their whole lives, and its a very liberal perspective. Liz joe, i think its phenomenal you have launched this university. It gives people an option to actually be educated and also have civil discourse. When you see these students who are wearing red gloves to symbolize bloodstained hands, and theyre not talking about the bloodstained hands of hamas who murdered 1200 israeli and american citizens on october 7th, theyre talking about america, america sticking up for a democracy by our government helping fund at least some of the weaponry to go to israel. You know, what does this tell you about the state of this nation and the students that are being churned out of some of these elite universities . I meaning frankly, liz, i think a lot of them are, unfortunately, useful idiots. Radiolike the original bloodsustained hands was the extreme theist radical islamist side, and thats where it was used.