Lore, then paring back some of those losses. Lets check the a markets, right now the down is down 84 points. The s p 500 down 10, the nasdaq has been fickle as a well today, flitting back and forth over the unchanged line. Right now though down 33 points. Those are off session lows. Were going to be focus on that all day. The techheavy composite, the nasdaq, has been buoyed by tesla. Top of the index right now with an 11 gain. Tesla are reported earnings, miss on eps and revenue expectations. Theyre trying to navigate slumping sales, falling demand for evs and, of course, competition from china, but promised investors it would speed up the development of new, more affordable vehicles. Of course, looks like very happy to hear that. Investors and analysts also flagging one quote from elon musk that claims tesla, its not really an ev maker after all. I think cathie wood said it best, really we should be taught of as an a. I. Robotics company. If you value tesla as an automobile company, you just have to fundamentally its just the wrong framework. Kelly that could be something. Well, susan li joins me to break down some of the other big strategic points musk unveil ised haas night. Hi there, susan. So wall street already is going to be a pretty ugly quarter, and tesla did even worse than expected and yet take a look at the stock reaction, surging in response. At a its peak today, the it was on track for its best day in 3 years, and really this all comes down to investor belief in elon musk. Profits fell by more than half. That was worse than anticipated. Sales dropped by 13 . And that is despite some pretty keep price cuts, as much as 20,000 off of a hes tesla car last year. And musk even said ev adoption is currently under extreme pressure and tough going with customers not buying. So citizen as a result, you have elon musk saying he was going to cut around 14,000 jobs around the world, and that includes right here in the u. S. Tesla said they were laying off more than 3,000 in california, 2,600 in texas. So youre probably wondering with all this bad news why exactly is the stock up . If well, because elon musk said e that he might start making a cheaper tesla earlier than preponderate expected. Earlier than expected. Weve updated our vehicle lineup to accelerate the launch of new models in the second half of 2025. So we expect it to be more like the early 2025 if not late e this year. So you have to take mixs teemlines really musks timelines really with a grain of salt, because hes been three years behind on the cyber truck and many years behind when it comes to full selfdriving. Teslas stock is still down by more than a third so far this year. However, musk still wants to reinstate his 56 billion pay package, and that is the richest in corporate history. But because of teslas stock troubles, musk is no longer the richest person on the planet, only number four now behind bezos, zuckerberg and each bernard arkansas know. On wall street you had seven price target cuts, down to as low as 120 over at hspbc. Hsbc. I did see two price hikes and one full grown up grade upgrade from bank of america to buy. You heard elon musk talk about the on the misrobot which could be available for commercial sale by next year. And i have to warp you, the grain of salt you have to take with the timelines. Kelly excellent point, super. He often misses deadline ares, but clearly investors buying that vision today. Thank you, susan, for that report. Okay, lets get to this fox market alert. The dow is down, wow, close to 100 points right now. It is on pace to snap a 4day winning vehicle. The s p 500 and nasdaq are both in jeopardy as well of posting a seventh day of losses in the last nine session. Z rising bond yields pressuring stocks today as the 2year treasury yield approaches 5 . And the 10year treasury yield rises back above, lets see, yeah, 4. 6 right now. The move comes after durable good orders rose more than expected in march. Youve got the fed decision a week from today. Investors will be eyeing closely tomorrows gdp report or as well as pce. Remember, that is the feds key inflation if gauge. Thats out on friday. So lets get right to the floor show. Joining me now is Fm Investments president and ceo alex are morris and Carnivore Trading ceo dutch masters. Gentlemen, thank you both for joining me today. Alex, weve got all this key Economic Data out this week. Inflation is like the nagging ex that keeps coming back trying to rekindle that relationship. You had powells victory lap in december can. Its not aging well. So what are you expecting from fridays pce, and how do you think thats going to impact the feds rate cut picture . Well, i like the analogy. Inflation is just that thing that we cant seem to kick. I do think that pce measure is going to come in a little above what the fed is expecting, but i think the feds response, assuming it isnt tremendously above expectation, is going to be the same. Theyre going to reiterate their datadependency, what chair powell had said last week which is it might be premature to cut now, but were staying on our course, and all of it really comes down to how does the fed reestablish the credibility that it had. To your point, that comment aged poorly, how do they prevent themselves from making that same mistake twice in six months. Kelly yeah. The credibility point, i think, is a really good one. And, of course, we are expecting them to remain unchanged for now come next week. I want to bring you in, dutch, because i know youve got maybe a little more bullish take on rate cuts to come this year. I want to talk to you about ups, because i saw their earnings yesterday. I was listening to the call. And immediately was struck by this soft demand for delivery. And normally theyre a bellwether. So what do you think this tells you about where the fed may go this year . Kelly, thats the canary in the coal mine. You found it. Thats a ups. When they come out and say that their business is soft, and it was soft, let me tell you. Were about to the see some economic numbers that are going to allow the fed, we think, to lower rates. Now, a week ago i wouldnt have said that. I a week ago a when we were on the show last time we said that theres no way theyre going to even cut rates this year. I dont think that happens at this meeting, i agree with alex on that. I think they stay the course here. But i do think pretty soon theyre going to have plenty of data to go ahead and cut the rates. So we are with getting long. Were not going crazy. Weve been in a a lot of cash, but now were putting in all the work, and we want to be long, long, long when the fed kind of surprises people and does their first rate cut. Kelly so just to push you on that point a little bit, you know, are you thinking summer . Are you thinking september . Because i know that they dont want to be seen as too political, but certainly fed chair powell wants to keep his job for whoever is in the white house come january. Yeah. I think theyre going to do it before the election, for sure, and i think the sooner the better so that they dont look bad that way, youre right. Kelly yeah. Well, alex, regardless of when you think the rate cut is going to happen, we cant deny that there has been tons of volatility in the market. You cant rule out, of course, a massive geopolitical curveball, god forbid. So where are you putting your money right now to manage owl og dynamics . We stayed mostly on the short end of the curve, still have some cash. We do like growth stocks, and i think dutch and i agree. If things were to go other than planned, its a great place to be. Ive also added some gold to the portfolio and to our view. If were wrong on everything else, gold seems to be the beneficiary historically. If we were more hip, we might think about bitcoin, but were just not that hip around here [laughter] we also like a little bit of duration. I know that rates moving the way they are starts to worry e people, but historically being 36 months early on a duration call is the right place to be. Showing up on time you get penalized pretty hard, pretty quick. So were taking some of our proceeds and starting to extend out in that base case. Could be surprised by the fed, though, in the section six months and react accordingly. Kelly dont sell yourself short, alex, youre hip. Come on, youre on the claman countdown. Telephone, i know you are loading up i on one stock in particular that is all about drones and guns. What is it and why . Symbol is abab. Its a its our largest position, and weve been leveraging into it. It jumped from 125 to 182 on their last earnings. Theyre all about drones and robots with guns and, you know, anything having to do with the ukrainian and israeli issues. I mean, we sent theyre a few months away if having. Earnings, but ive got to tell you we cant imagine a world in which they dont absolutely 1345rb the numbers once again. Kelly yeah. With everything going on in the world right now, its hard to see how they couldnt. That does seem like the one maybe recessionproof area of things right now p. Alex morris, dutch masters, thank you both so much for your time today. Okay thank you. Kelly the Biden Administration trying to make recent travel flight majority a thing of the past. Well ask the travel and leisure ceo what he thinks about new rules for refunds and eliminating all those junk fee ifs ahead of the Summer Travel season. The etf travel ticker, appropriately away, is up 9 right now over the last six e months. The claman countdown coming right back. grandpa vo im the richest guy in the world. Hi baby woman 1 vo i have inherited the best traditions. woman 2 vo i have a great boss. Its me. man 1 vo i have people, people i can count on. man 2 vo i have time to give grandma vo and a million stories to share. grandpa vo if thats not rich, i dont know what is. vo the key to being rich is knowing what counts. Your record label is taking off. But so is your sound engineer. You need to hire. I need indeed. Indeed you do. Indeed instant match instantly delivers quality candidates matching your job description. Visit indeed. Com hire youre probably not easily persuaded to switch mobile providers for your business. But what if we told you its possible that comcast business mobile can save you up to 75 a year on your wireless bill versus the big three carriers . You can get two unlimited lines for just 30 each a month. All on the most reliable 5g mobile network nationwide. Wireless that works for you. For a limited time, ask how to save up to 830 off an eligible 5g phone when you switch to comcast business mobile. Dont wait call, click or visit an xfinity store today. Hi, im kevin, and ive lost 152 pounds on golo. uplifting music my biggest concern when i started golo was food. Im a big guy and, shockingly, i like to eat. I was worried it was gonna be like other diets that were bland and restrictive. But with golo, my meals are great, and im no longer hungry like i was before. Im so pleased i gave golo a shot. Dont wait, go to golo. Com. Kelly airline stocks, you can see theyre hitting some turbulence. Youve got southwest down a half a point, american down 2. 5 as well as united airlines. This comes after transportation secretary Pete Buttigieg today announced a new mandate that requires airlines to immediately refund passengers for trarl travel delays and cancellations. Enter with the first rule that were announcing today, the bidenharris add administration is now requiring that if an airline cancels or significantly delays your flight, within seven days they will be required to provide e an automatic. Refund to the credit card that you used the book it without you having to call or waiten on hold or sort through the digital paperwork or haggle with that airline. Importantly, we are also changing the refund to clarify that it must be by cash, it must be in cash by default unless a passenger actively chooses another form of compensation rather than the other way around. No more defaulting to vouchers or credits. Kelly boy, who wouldnt love the avoid waiting on hold . [laughter] this is a move that will help passengers save money, maybe put it towards wherever theyre trying to go through, and maybe that will be at one of travel and leisures 270 timeshares worldwide helping to deliver more than 6 million vacations each year and just reported a top and bottom line beat. The travel giants strong start to the year was led by a 15 yearoveryear increase in tours and a 28 year on year jump in new owner tours. Joining me live in a fox business exclusive is the travel and leisure ceo and president , mike brown. Mike, so good to have you with me today. Congratulations on a very nice report card. Im sure youre very happy with that. I want to dig into that in a second, but first just get your take on what i mentioned with the department of transportation, that announcement. Whats your read on that . Is that going to the help you guys at all maybe . Well, i think given that were right to head into the peak travel season is of the year, which is Summer Travel, given the recent history in what was a lot of delays over the last few years which sometimes were related to the airlines but many times were not, i think this is just an effort to get ahead of that. There werent i havent got through all the details of when your compensation will take effect, but the reality is consumers ultimately want to get to where theyre going. And this announcement, you know, i think the air liens will obviously have to react to it g airlines will obviously have to react to it and make sure that theyre the on top of the routes and travel. You cant change weather though, and youve got to make sure that the air Traffic Controllers are there to make sure the planes are available to fly. But ultimately, Consumers Want to get to where they ea want to get to. Is and when things are the fault of an airline, this is a way for a consumer to know that they have recourse. Well look into more detail it is as to the fine print of all this, but in general anything that favors the consumer e getting on travel, as a you can imagine if, is usually a good thing. Kelly oh, absolutely. Though you do make a good point about weather. Im traveling for my honeymoon next month, and im going to be obsessively checking the entire week leading up to it. Listen, you had earnings definitely reflecting a resilient consumer or at least one that is living the yolo lifestyle, you only live once. So what trends are you seeing in bookings this quarter in what does that tell you about what we might see this summer . Yeah, well, we definitely have seen a resurgence. There was a little softness toward tend of last year, but the resurgence in the First Quarter and what were already seeing in april is very real, and it came through in our results, and were very proud of our q1. As it relates to trends going forward, there is a lot of confidence in the consumer right now. Were seeing the sun belt destinations, South Carolina beach, florida theme park and beach, tennessee driveto destinations, believe it or not, wisconsin driveto, the Wisconsin Dells is very popular. What were seeing is people already preparing to get away this summer with the confidence in knowing with the economy in a pretty solid state for travel that they have the confidence to not only book in their normal booking windows, were actually seeing those booking windows extend to late her and into early fall. So late summer and early fall. So again, a lot of confidence in the consumer and no real signs of weakness at the end of april. Kelly just want to double click on the earnings report. I saw that your membership segment, it saw a 4 decline yearoveryear. You had a 1 end crease in transaction revenues but a 6 decrease in the volume of transactions. So kind of what happened there, and what does that indicate to you . Yeah, its a trend that weve been seeing over the last few years is as the industry has changed, and this is a Huge Positive and often a misperception of the industry, nearly 85 percent of all timeshare these days are run by hospitality companies. Thats a massive shift from what used to be about 30 . And with those hospitality companies, theyre creating their bigger resort or systems within their own brands and, therefore, more people are, quote, staying at home within their brand. And that, thats the result of, that results in a slightly Lower Exchange outside of a brand. Its great for the industry, great brand reputation, more flexibility, but it does mean that a more people are staying, quote, at home in their brand. Kelly okay. Appreciate the explanation there. Real quick before we go, we are in a very uncertain Interest Rate environment. Yes. Kelly of course, people are putting a lot of dollars on their credit cards. I know that the timeshare business is somewhat insulated from that because folks is already purchased, theyve already committed to maybe taking a vacation once a year, multiple times a year, but are you worried with about those head wints with new headwinds with new customers coming in . Look, you always look at how the Macro Economy is starting to move. With lower Interest Rates what we saw coming into this year when with there was talk of Interest Rates being lowered, the exciting part was i think people felt, okay, there the might be a little more room in my home purchase if or in other areas of my life and, therefore, i might have more vacation dollars. Kelly right. I think, ultimately, inflation is the part that is on everyones mind as a gas and groceries is what etchs concerned about. Everyones concerned about. And as a result of that, to the extent that timeshare, which seven out of eight of our purchasers or owners have already fully paid, it is, as you mentioned, a natural hedge against an inflationary environment. Better to have paid for your vacation in 2018 with a timeshare than to pay retail at a hotel room thats going at todays prices. Kelly good point, mike. In your mind, you can sort of explain it away, thats already been cost. Mike brown, thank you so much for your time today. Thank you. Kelly okay. Well, tiktoks biggest stars like Charlie Damelio may have to start for other work now that congress has given the chineseowned social Media Company an ultimatum, sell or be banned. Were going to take a deep dive on who can been fit from it being banned. Tiktoks owner bytedance is not traded in the u. S. , but the globalx social media ticker is up 16 over the last six months. Were coming right back. Liz claman, inducted into the cable hall of fame. From her critical market coverage to her Ground Breaking interviews, the fox business anchor has been honored as a