5% and could the fed rates going here and the fed raid. charles: 15 seconds and the ai space and very much so. >> we love tech and that's the theme. that's where the money is being made here. >> that portfolio and grandpa and grand kids getting together and no one argues about when is better. charles: check me out, people are pumped and i'm pumped and it'll be a lot of fun.

>> liz: just a few minutes ago the dough at a high of gain of 37 points points points and n. here's the breaking story. look at shares of morgan s tanley, they're plummeting 6.25% and very close to session lows this all just happened as you can see. how the bank vets wealthy c lients and laundering through the wealth management division and morgan stanley get as report of dressing down from regulators on how it monitors the climate's financial activity, we'll keep an eye on that and flip over to rent the runway stock. it's the star stock of the session, complete opposite of morgan and more. the fashion

rental website to pay a fee to borrow ball gowns and more is glittering. look at this gain. like an ocean of gold sequence and right now up -- sequins and upgrade to the platform and driving in move and coming up a fox business exclusive and ceo jennifer hyman on the good news and challenges this company still faces. let me just explain that a day after stocked salooned on the inflation consumer report and 422 point-blank layupses lost yesterday and s&p up 44 and erases about 44 points of the 49 points erased 24 hours ago.

the nasdaq we're on record watch and 146 points evaporated and gain of 253 points and all they need to see a record is yanis of 258 points and up 281 intraday. could we get back up? stay with us all through the next 58 minutes.

boston fed president susan c olins not a voting member said strong recent data retuning forkses the urgency to ease or cut rates. not just strong cpi from yesterday and today march pp and i recollects whole field level and headline number came in a tick lighter and good news for investors hoping to see a ate cut but look at core, both month over month and year over year they were each about a tenth of a percent higher than expected. no basis point jump and look at ten year. it's up another three basis points and 4.4575% and two year is nod rate ago bit down 1.3 basis points to 4.96%. so with stocks running higher right now, now the nasdaq up 259

points. that's a record if we close here and investors going to ask themselves and what's an the corner here. floor show traders and peter live from floor of new york stock exchange. peter, what's behind the recovery especially with the nasdaq right now that we're h itting with 56 minutes left to trade? >> liz, that was a mouthful and throws me off guard and so many moving parts to the husband puzzle and the markets overreact on the downside and upside and there's so much dissent within the federal reserve and governor is coming out at different times and the fact that they don't speak in one voice and i know they're not supposed to, but it can be so confusing to the marketplace and you're seeing people almost like we call the old fat finger trade. everybody is trying to adjust themselves around the yield, which has been a big deal around oil price that's affecting the

yield and around ppi and cpi and all the numbers trying to understand how to position themselves, what does that mean for the market, what does it mean for a june cut. just when they're about to adjust themselves, another person from the federal reserve board coming out and says something completely different. i really think that when the b uyers come in and sellers evaporate and come in and buyers evaporate, there's a big cloud and it's irrational and people talking about three cuts then two then none and a number of disappointing numbers coming out and today you're seeing the whole tech sector that's been oversold in three days in a big way. a bit of electronic trading and seeing momentum of buyers and we

see them evaporate and same on the other side and we're seeing overdone moves. liz: not sure people expected a 270 point gain on the that's nasdaq and it's what we have and put on the lower bug and it's on track for a record and tech heavy index and you started b uying yesterday and there's the apple and palantir and other positions and you did not sell. >> we're having a relaxed day with a big smile on our face. we're probably going to head out to the beach early. i see it and i'm like a vehicling in all you can eat buffet, liz.

liz: yeah, and peter talked about the scaling back over the past 72 hours and thinking about where we were just two days ago where are you watching the flows on the floor of the new york stock exchange? >> it's really important. it's a day like yesterday and head to the most spectacular quarters and starting off the year and since 2019, yes, we've had four days up till last 12.5 weeks where the market almost pulled retraced less than 1%.

people are sitting it back and like you said and having a s hopping list in front of them of stocks that they thought were a bit frothy and dieing to own like the nvidias trading in the high 900s coming into using these kansas city chiefs toosh fio words and like a correction mode. be in a bull market and bear market and old terminology and old terminology is irrelevant and i think we should literally look at yesterday as nothing more than a great opportunity, it's like when you see your favorite leather jacket go on sale at maceys and don't go r unning for the hills and go to the store and buy it and see nvidia come in, a stock that's been the biggest mover last february it was at 108 and a week and a half ago.

liz: keith, why not buying small and mid caps at least yesterday. the low of the session, the russell 2000 dip into -- well, nearly 6% of the downside g etting awfully close to a 10% correction or 4% away. i worked in local news and we overdramatized stuff, but, k eith, you're not picking some of the small and mid caps. there's a reason for that. what is it? >> there is a reason. i've done a lot of research over the last 40 something years and the money in today's economy is going to run to the really big fortress-like balance sheet and liquidity in the depth of market and ability to change the world we live in.

>> headline number and the core was a tick hotter. john williams says no reason to adjust interest rate policy in the near term and as you see, the nasdaq is on track to blast to a record close. we are already there with this 272 point gain and question is will it hold? one subscription fashion service lighting on fire and the final hour of trade and rent the r unway most well known for being kind of a temporary closet and it's interesting and paying thousands to buy luxury clothing from the world's top designers but today, it is an investor darling after projecting a milestone year ahead. as the stock sparkles like a

sequin ball gown, jennifer hy hank walker joining us in a knocks exclusive we're coming back. dow jones industrials gaining 105.

liz: show stopper of rent is the runway today and the company posted fourth quarter results and they did include a loss but it was a narrowing loss from a year ago and the los was still a bit wider than analyst e xpectations and total sales however rose have a percent to 78.5 million and enough to beat 74.5 million an l ife-threatenings were looking

for. the company also expecting a rosie 2024 with 1- 6% revenue growth and big shiny object here rent the runway ceo jennifer h yman. for you to be here today is h uge. this stock move is really unheard of certainly. i don't know, when was the last time you saw a service connected centage gain for the stock? >> mostly seeing percentage loss for the last few years since the ipo to be honest. liz: this must be impressive. what's driving this in particular? >> after q3 results there was fear that year over year kind of loss that we had at that point

would continue and we've seen that the business is stabilized and we've seen that cutting c osts and able to prove to the market that there was an issue with the inventory depth last year and solve it had quickly and we were able to see a 20 point gain in net promoter score very quickly. year over year gains in loyalty and entering this year know customerred on growth. liz: rent the runway is the platform you started and back in 2009 and this is a way for people to rent a ballroom down and cocktail dress and now you left sunglasses with casual close with designers on the site

and we have over 800 designers this is about giving people options to wear everything from travel to work to weekends and special events. close the most frequently and going for retail and companies and it's a big win and shops come 2-3 time as year and we see that user two to three years a week and different relationship for them in the life and leveraging that data in order to help her with new stiles and brand. liz: you're going to be cash flow break even this year >> y es. liz: fiscal 2024.

how much will be driven by ai upgrades and you have i mplemented and going for ai upgrades do. twos isfects and receiving incredible designer clothes and pickup and stylist you can text with at all times and this is our concierge program and the second one is what is your interaction with the app and because you're using us f requently and often are c hoosing ten items from us per month, discovery is one of the biggest opportunities in f ashion. we think about the endless aisle and think about a business like amazon and on amazon, you go to amazon and you search, you know exactly what you want. but in fashion for the most p art, women aren't searching for specific things and they want to come because they need close for works and people amazing.

liz: they want to see the o ptions and like airbnb and something like you and aye done this before and sequins. i did that. and say there weren't purples that i wanted and we have experienced fun and delightful for the customers so that if you want to search for your kind of rhinestone cowboy-esq beyonce outfit, come and use ai search. liz: is that on there? >> of course, we're the biggest beyonce fans there are. but we also are offering merchandise the hubs, which have incredible styling advice, which are putting outfits together and meaning that if you come to rent the runway and your need is for travel or your need is for work, you can go into a hub and see that you have this limitless

closet available to you for the use cases. liz: jennifer, the challenges are there and today is a great day for the stock and year over year it's been awfully c hallenging and be nice and put it that way. show a stock pick. >> it's been challenging from a stock per spect and i have from a business perspective, i've never been more encouraged by our business. i've never been more optimistic so this is an industry that is growing like wild fire. five, six years ago, there was a question: will women rent c lothes? will women have subscriptions to fashion? no millions of women in the united states are signing up for subscriptions to fashion. we were a $300 million business last year, which was flat year over year, that was of our own doing. it was not because of the macro environment. we came out transparently to the street and said, here's the reason why we're flat. this is a problem we've recognized quickly and solving

it. we solve it had and now it's all kind of growth ahead. liz: and you did the reverse stock split. 1 for 20 just last week. >> yes. liz: what was the thinking behind that? >> it was a requirement that we .h we believe in this -- we believe in the long term sustainability of this company. we think that we have tons of growth ahead, and we are going to be a public company for a long time. so, you know, this was something that was a part of the journey. liz: beyonce rhinestone cowboy, that's the service connected and have a hot one. good to see you. thank you very much. >> thank you so much. liz: jennifer hyman of rent the runway. big stock story. artificial intelligence not just at rent the runway but helping the world's biggest retailer get products into your hands as quickly as possible. so what we're goon do is we're going to fly you right now to the sunshine state for an inside look at wal-mart's ai irobots o now live at its high-tech

warehouse there. wal-mart had a great year up about 21% over the last 52 weeks and among the holdings of the spider srp retailer and it's gained 7.5% over just the last year. we are coming right back. nasdaq up 273. that is a record. let's see if we can close there.

liz: breaking news, amazon on track for a record close gaining 1.8% and the number to beat is $ 186.57 a share. we're at $189.28 so it broke through the intraday high earlier in the session after ceo andy jassi released annual shareholder letter writing "generative ai may be the largest transformative since the cloud and itself in the early stages and perhaps since the internet". touting the leadership in gen ai and could become the e commerce next pillar of growth. investors love that obviously. not only is it up today but over the past 52 weeks it's gained 85%. wal-mart using ai and robots at high-tech facility in florida and that's where box business ashley webster is ready to give

us a behind the scenes look and we're going to go to him ashley: hi, liz. we're having an audio issue in here and this is wal-mart's facile it and a lot run by robotic machines. i'm in an area where the pallets come off the trucks and come through here and go to that giant machine behind me that's got an arm like it was out of transformers and if you think that's impressive, watch this. this is amr and autonomous programming and it can unload and store a truckload of goods and more in record time. we pack and ship out 560,000 cases a day.

almost double the amount regular employees can produce. the items are separated by a machine that's sorted by a machine and evaluated by a machine. what about the human s? >> asos i can't tells and m ade -- associates and made them more product and i have labor intensive jobs into high-skilled tech focused jobs. ashley: humans supervise array of mechanical jobs scoop and turn in re-sighs movements. ashley: robot machines process the packages by size, weight and con tent-like structure meaning for safety items like baby food will not be placed next to items like laundry detergent and all controlled by algorithms. ashley: those control storage carts that zoom around a dark labyrinth highway in the warehouse and mechanical arms are assembling the perfect palliative goods that they do with mesmerizing accuracy and shipping labels are ai generated down to exact store and destined

for. wal-mart said you think these are job replacing machines, they're not, the employees are mow becoming a skill and it's also a very valuable thing in today's world. it's the heavy lifting and i have to say pretty mesmerizing, liz, you'd love it. liz: it would probably cut down on healthcare cost for wal-mart because, ashley, they're not lifting and hurting their backs. ashley: that's exactly right. that's why these machines can turn out about 560,000 cases o

f -- for humans it tops out at about 300,000. liz: okay, well, the robots got us. thank you, ashley. that was pretty cool. carmax stock trailing around bottom of s&p 500 after steep decline in fourth quarter e arnings amid fewer purchases from both consumers and dealers the stock which is down 9.13% is on track for largest percent decrease since september of 2023 and the used car seller is b laming expenses inflation and that come with owning a car. 22% year over year and consolation brands fizzing up to record high on an upbeat annual profit forecast.

the modelo bear maker with the range of 13% and cents of 13.80 per share and estimate of $13.42 per share. alpine immune sciences surging today on vertex pharmaceuticals wants to buy for $4.9 billion and vertex paying $6.9 billion for alpine and 3% premium to yesterday's closing price and alpine is up and it's a pipeline and alpine is that company that's developing a drug to treat a rare kidney d.d.s. vertex for its part is up 1%. we should look at nike. nike near the top of dow jones industrials after bank of america upgraded athletic wear company and going for them more outright by no. 2 poll and nike up 3.5% and by the way, they

raised price target by $3 to $ 113 and nike at $92 and change. bank of america says nike stands to benefit from the marketing around the paris summer olympics and unveiled new kits for olympic athletes this week. what they can do to a bloomburg and the tech giant is plan ago math line for production overhaul for the m4 computer processer with ai capabilities and meanwhile home depot struggling again and it's about the fourth or fifth worst performance and it's not a pretty day for home depot and higher than expected inflation mortgage rates and that would affect the home improvement company. that's been part of the problem over the last month or two for home depot in rival lows and stocks in the red last month.

how are they looking about 10% gain over the same time period. up next, the ferguson with the steps they're taking to build up the stock pick.

liz: high mortgage rates was one of the barriers to perspective homeowners looking to buy or build and doesn't impact homeowners and agencies and home builders like ferguson and what's the largest pluming and

heating materials companies in the u.s.? we're joined and look at rising mortgage rates, kevin, obviously that crimps people who want to buy and we also have a deficit of new hopes out there and what are you seeing o on the ground at this point? we've been working through residential recession for for a period of time and we look forward into the calendar year and seeing green shoots in particular on the the single family side of the business and people are being forced to look at new construction and we're seeing production builders buy down rates and we're seeing in our bidding activity which perspective inside the company and going better with

construction for the new s ubgigses and seeing that showing signs that have helped and along with external data and look at company overall, the residential side is >> there's exposure and and nhb and wells fargo came out with a new home survey and it ticked up and great demand and 489 and march

was 51 and highest picture and housing index and that looks like conditions and talk about a residential recession and merge from that and when will the industry come out in the sunshine. >> a bit of residential recession and came in to this cal endeer hunting year and see multifamily a bit more still pressure and then when you look at repair remodel side and that's the bulk of going for the residential line and going to remain pressure and get through likely the third quart of the calendar year and we all know and we're under built in this country by roughly 3-4 million units and edge of housing stock is over 40 years and mean term critics

critics and working into residential. going for this to indicate less than 10% of the existing inventory and can be converted effectively into residential what's the occupancy rate l ooking like today and that's going to be ongoing piece of business for us going forward. liz: i would imagine returning

to amazon for next day d eliveries for things like toilets and warehouses and tell me if that can help you improve your delivery times and that way they turn to you instead of say for example an amazon. >> liz, final mile of our business sin credibly important. the number one piece of customer satisfaction across all of our trade professionals is where i need it. look across the 170+ locations that we have -- 1700+ locations we have in the network and the next evolution of the supply chain is is to bring the distribution centers into the local market and we've got enough skill and we can bring d c's into a local market and have the best breath and depth of inventory, bring in good transportation savings, but maybe even more importantly we're talking about robotics earlier and 65% of the picks in these new facilities is done by

robotics creating good health and safety records and more official and faster for the customer. and call it to the top 30ish cities in the unit. liz: copper prices. it's roared higher this year year-to-date yesterday and it hit a new high. how are you managing to mitigate and pass those higher costs onto customers? >> we're pretty good at managing that inventory level and man tianaing some pretty tight l evels while at the same time having great fill rates, but we're also fairly adept at m aking sure we inform our customers and pass along price increase and look at business and about 14-15% of our revenue base is what we would call

commodity-based product and copper tubing, plastic pipe and steel pipe and customer and those products are actually in deflation natural rights approach territory and call it mid teens as a basket. in fact if you look at last quarter, the products that we sell across that basset driven by those commodities were in a 2% deflation again during the last quarter. we see that now starting to stabilize. back to growth and get into the third and fourth quarter. liz: copper pipe asking very exciting and sexy but not as exciting as bane ultra bathtubs that have lighting in them. yeah, i bought one from you g uys. that was a crazy purchase, but good luck on both the residential and commercial side, kevin. thank you. >> thank you, liz. liz: today's count down closer said you should not be playing financial whack a mole with unpredictable markets and stocks that you should own and help your portfolio perform even if

the hammer drops on wall street. we're coming right back and look at nasdaq up nearly 295 points right now. looks like a record but we've got 12 minutes to go.

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♪. liz: we need to check back in on morgan stanley shares. they are off session lows but still down at the moment by 5.25%. news breaking just before the top of the show, "the wall street journal" reporting multiple federal regulators are investigating the bank's wealth management arm. so the securities & exchange commission, the treasury department, and the office of the comptroller of currency are reportedly probing the bank's client vetting practices and potential money laundering risk. the federal government has told morgan stanley it is considering supervisory action. morgan stanley by the way reports first-quarter earnings april 16th. breaking in just the last few minutes, uk for ren secretary david cameron, he made clear to the iranian foreign minister iran should not draw the middle east into wider conflict following recent threats from iran's ayatollah

khomeni escalation of violence towards israel of israel's airstrike last week on the iranian consulate in syria. the economist worry that oil prices could skyrocket. joining us charlie gasparino. >> i spoke to several ceo type people that follow, have to follow the market for geopolitical reasons and they say on the trading desks across wall street, right now, the rumor, the speculation is hot and heavy there is going to be an iranian response imminently. does that guarranty it because it is on the trading desk? no. people telling me are ceos worried enough there could be. they are telling traders to be prepared for some sort of a response by the iranians and depending on the severity of the response, obviously there is a massive geopolitical considerations and problems here. we could be in world war iii. i mean that's the utmost

problem. it could be something like a new middle east war as sort of a intermediate problem, one for one, then it as over. not saying that is good but it could happen. they're worried obviously about the geopolitical ramifications which always upsets market but the meantime short-term worry is oil prices. now that sounds very, very, it is like, you know, when i worked at "the wall street journal" we used to mock a headline in the front page, world war iii started, interest rates rise. i get it that it sounds -- liz: we look through a different prism. >> i know i'm being very parochial here but this does have impact on the economy and here's why. the fed is slated to cut-rates still sometime this year. we don't know. some people say june. some people say september. some people say once. some people say three. it is up in the air. if there is sizable response, if oil prices do spike

dramatically, take an intermediate rate rise, rate cut off the board, you might even have higher rates because you will have a spike in inflation based on oil prices. >> brent crude is up about 16% year-to-date but over the last month brent, which is the international benchmark, brent is up about 3.25% and light sweet crude up 2 1/2%. >> not necessarily, it is not pricing in world war iii, let's be clear here. liz: exactly. >> be prepared. i'm hearing it from enough trading desks every major firm on the street is now watching this, okay? now, i think bloomberg ran a story yesterday that said there might be something along these lines. people keep saying the word imminent. liz: iran is imminent in its retaliation. >> no one knows, by the way know one knows if they're sabre-rattling, to upset to move our markets around, that is always a possibility but you know, when it reaches the level that i hear it at from the, from you know, from that type of ceo

type level that are worried about this hinge, you know be prepared. so if we do get something, you know, everybody's going to be looking at oil prices and then everybody is going to look at does the fed back off any sort of rate cut and start looking maybe rate hikes, depending how bad this is. again, you always plan for the worst-case scenario. hope for the best. by the way when they say imminent, they mean within the next couple days, today, tomorrow, this weekend. liz: charlie, thank you. charlie gasparino. between inflation, high energy prices, geopolitical tensions and all kinds of other economic issues, investors sometimes can feel like they're playing financial "whack-a-mole," trying to hit back all of these things that keep popping up, but our "countdown" closer says let other investors play that game. you should be using defensive picks to put teflon around your portfolio in this uncertain environment. joining us with 1.3 billion in

assets under management, capwell cio. tim, how do you do that? people should do that all the time but it feels urgent right now? >> it sure does, liz. but i think there are opportunities in any market and for example, the energy complex is certainly worth looking to, specifically at electric utilities. we like next era. one of the untold stories about the a.i. chips is the tremendous amount of electricity that they use. liz: uh-huh, yes. >> 4% of all the electricity in europe is going to be consumed by the data centers that are in existence within two years. that is as much as germany by itself as a country consumes. so we like the energy sector, the electric utilities in specific. liz: that is an interesting side window trade to the a.i. frantic momentum play that we've seen

lately. let me just say right now, tim, as you know, the nasdaq is on track for a record close, just a day after the markets kind of, collapsed a bit in the wake of a, you know, consumer inflation that was hotter than expected. are you buying any tech stocks at this point? >> not really. we're looking at valuation. you can own nvidia, or can own all the electric utilities, plus ge, plus ibm and their weighting is embedded in the s&p 500. so, we believe that there are better places to look, more defensive places to look in the spirit of financial "whack-a-mole" we started with. liz: it is great to have you. [closing bell rings] liz: the dow just fumbled all of its gains. some has to do with the morgan stanley story we brought you. meantime nasdaq closes a