the trivia question, we asked how all that was the youngest senator ever. your guess first? lauren: number 2, 28 years old. ashley: very good. what say you? lou:i will go with 26. haven't acknowledged much at 26. ashley: don't feel bad, the answer is 28. well done, lahren. 1818, tennessee senator john henry, the constitution says you have to be 30 to serve. so much for that. well done. thanks for sticking around. the dow is up 340 points. coast-to-coast starts now. brian: todd: looks like there's a great deal of demand, this price was priced at $44 a share when it launches today and all of a sudden getting word of

incredible demand popping up at 44, 48 coming out of the gate, 50 to $52 a share, it's a moving target. keep in mind this is a company that any money but is getting a lot of attention, getting the first real standoffs, social media launch in the better part of 5 years which is why it's getting scrutinized and could prove a launching pad for a lot of big tech companies looking to do the same including those that have to do with artificial technology in general. kelly o'grady is following it closely. >> reporter: this is a big moment for the ipo market, the first major tech company going public in 2024. looks like things are off to a positive start even though it hasn't started trading it. the latest is 50 to 52, you mentioned, $34 so that means the valuation goes over 8 billion or 9 billion.

the company gave leading users the opportunity to buy stock in the share program. creditors are known to be loyal but also a lot of backlash and revolts in an ipo, you want investors to buy and hold the stock so watch for potential volatility. this strategy didn't work for robin hood. i want to underscore reddit is different from most tech companies looking to ipo, this is a company that's 19 years old and hasn't turned a profit yet but it does see new revenue streams in the form of ai, maybe deal for $60 million to train large language models but the space could see big regulatory hurdles. >> you have to wonder can it evolve its business model, move into ai, create a really strong revenue stream from monetizing this data? i tend to be less enthusiastic about a company run by a lot of volunteers.

>> reporter: a really big day with exuberance from investors looking for a space outside the magnificent seven to invest in. the question is whether reddit is that space. neil: they are not overly attached right now but everyone and anyone, you want to attach ai, serialmakers are the next one reinforced with ai but you need to buy and sell it. kelly o'grady following that. bubba horwitz getting a read on this, ray wong, let me get your sense of what is at stake here. kelly laid it out beautifully but this is price to perfection and then some. what do you think? >> conflict with ai is not where we are headed but there's a huge demand. this is a social network but not one of the largest.

if you want to make a play for ai there will be large models like facebook and other companies with big social networks and smaller networks that will be important and reddit will play that role. they are very close and cut that down and in better shape than when snap was doing an ipo because they are past the number of employees that snap had so they are cutting costs, coming back on the volunteer effort. the bonds stopped being moderated. they feel the data is being taken away. neil: these highly anticipated offerings in a variety of ways, the face book in 2012 and now

matter, it debuted around $38 a share and was cut in half in the days and weeks that followed and this is a different story, 508 a share, the opposite of snap coming in 2017 back then at $17 a share, now it would be $11.20 so you can have bumpy rides, no >> great to be with you. they are pushing this higher. markets are high, this is not ready to open yet. it to $2 spread. this is one that is very popular, great platform and they've got a much better play for what they do but when you overprice markets if markets slow down and see some selling off in the general markets they are selling, nvidia, meta, and

others, this could go down quickly but it is very promising but until they narrow it it's not going to go. neil: to finish the point if it has a crappy day and doesn't get the buzz it was getting as it was opening, you think it could take nvidia and others down with it? >> this is a highly anticipated ipo and if they get it open and it starts to fall apart it starts to show general weakness in the rest of the tech sector. the markets never go down anymore, they go straight up and this is something you have to worry about because it's similar to the action we had in the 90s with the first internet bubble? are we in one now? i can't say but moving in different directions, apple announced $7.

weakness in reddit protect on the rest of the tech sector. neil: i'm too young for the internet boom but let me ask another development, the justice department suing apple on antitrust, a pain in the apps and others try to do business with rules and restrictions, customers easily switch devices so justice and a dozen state ags going after them. it isolated the selloff to apple. what do you think of that? >> the justice department is trying to get some cases in before the end of the year. they have been trying this the last five years. apple is a behemoth. there are other places you can go after but the case is based on the fact that apple keeps prices high so consumers are at a loss against it but

developers make money on the apple platform. people don't put as much time building applications and software because they don't make as much money so apple found a sweet spot between getting the money they need to make stuff and customers and solutions and trading the market for everybody else. it's interesting to watch this case, the evil empire versus apple has done a lot of good in opening up markets and that is what people are looking at. it will be one of many cases with the ftc and the doj. neil: you could make the argument that it is our system. it is our platform. microsoft the same about 15 years ago, we know how that ended up, over leveraging to take advantage of the search engine and the rest but i wonder how this goes. what do you think?

>> i don't agree with what the government is doing. i don't think there should be a problem. you as the consumer have a choice, you can spend more time. the problem i have with apple in general is i don't want to stock their ecosystem. in the apple ecosystem it doesn't crossover to anything else and to me that's a bigger problem. apple is a big company. it shouldn't be an issue because we have another choice, you can go to android, the government is wasting time trying to bring motion against apple when at the end of the day that is their system and it is your choice to use of them. there are other options. neil: cook said to just purchase an iphone. having said that, apple makes $80 billion a year. that's a lot of change and does it make you think less of the stock?

>> there's going to be an overhang on tech stocks especially the regulatory case and on the apple side a lot of it was priced in and now it is real. people are grappling with what that means which i think this will drag on for some time. it's taking time to start, to end, so we won't get a ruling for another few years. . 20 selling on the rumor and selling on the fact, apple down again. it is unique largely to apple and this is not spilling off to widely anticipated offerings or big players with the exception of google, outside of that, this is pretty much apple story. keep you posted on the government. in the case of the white house canceling $6 billion student loan debt.

hillary vaughan has more from washington. >> reporter: the president announcing 77,000 americans are getting student loan debt paid off to public service workers like teachers, firefighters and nurses getting student loans paid out by taxpayers, the total payoff 5. $8 billion applies to anyone in public service who has been making payments on their student loans for ten years and the e-mail from the president saying because you pursued a career in public service you are on track to get eligible student loans forgiven. thinking you for strengthening your communities and keep it up. the latest loan forgiveness is getting points with progresses and young people, two groups of voters he needs to show up in november and some are pushing today for more. congresswoman elana omar saying keep fighting until we cancel student debt for every borrower. you know that forgiveness is not free.

it applies to federal student loans that ultimately taxpayer money fund in the first place. the president is taking credit for it but it is you and other taxpayers who pay for it. neil: sheila bair, you helped the nation out of the middle of that financial meltdown to keep calm heads and avoid the banking system going curb louis, but she was in maryland and played an important role in trying to control college costs and it is that part of her fine brain we want to tap right now. >> nice to see you. adam: government solution is to give people money and make the loans go away. colleges and universities respond by hiking their prices all the more so the problem doesn't go away.

>> it is flawed and on the public service loan forgiveness it should be pointed out the program is authorized by congress in 2007. it was authorized and other things have not been authorized and they are making it worse, the bottom line problem is colleges originate these loans. colleges get most of the proceeds. the tuition but if the loan defaults, taxpayers pick up the bill so they hike tuition, make these kids borrow as much as possible because that's where the revenues go. it's a statement of fact and until you make colleges have some need to be on the hook for this, we are going to have worse problems and the other debt forgiveness is going to make things worse.

neil: i can understand the predicament these kids are in and others paid off their loans who aren't part of this party in recent it and the resentment ads too. they look at this as a boon to the president. it could be a boomerang as well. >> most taxpayers do not go to college. they are picking up the cost for this. this is in helping kids either. this save program is quite generous. about of people won't make you make any payments. they borrow more and don't have to pay it off. if your government run you won't pay it off. it's worse for these kids and confusing them what debt means and how serious debt is. in most contexts you have to pay it so it's not helping people it is making it easy to stay in school, go to graphic

school, borrow, borrow, borrow, there are costs with that. it is not good for young people either. i wish the program was guided by what students need, not colleges. neil: who pays for this, i understand a lot of this is being added to our debt. as simple as that. this goes beyond one group getting a benefit and a buyout and americans paying for it. >> that is right. it is, that is right. public service loan forgiveness was authorized by congress. public service workers get a special deal on their debt but others with jobs that may be beneficial are not getting the same benefit. the program needs to be

revamped or handed to taxpayers and colleges need to absorb the losses when students are unable to pay back their loans. the fact that so many students cannot pay their loans suggest the degrees they are getting are not economically beneficial to them or our economy. neil: i wanted to pick the fine part of your brain and the college cost part which is significant and important. good to see you. as sheila was wrapping up, apple stock, this government crackdown effort is worldwide, the european union wants to using apple for the same thing, a prison for those who want to do things but are limited to how they can do them and you are looking get to take advantage of it because you can't switch devices to do it somewhere else. it is costing apple close to 5%, the single biggest daily hit for apple since the beginning of the year. separately we are waiting for reddit's debut. it is expected to come out of

the gate north of $52 a share. this was priced at 34. they were going to price it from 28 to 30 and it was 30 and 32, 32 to 34 and high demand for this, you often hear 5 times as many people want to bid on this as are available to bid on it. that is called off the chart demand, more after this. trading at schwab is now powered by ameritrade, unlocking the power of thinkorswim, the award-winning trading platforms. bring your trades into focus on thinkorswim desktop with robust charting and analysis tools, including over 400 technical studies. tailor the platforms to your unique needs with nearly endless customization.

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maybe we'll even get married one day. i wonder what i will be doing? probably still living here with mom and dad. fast reliable speeds right where you need them. that's wall-to-wall wifi on the xfinity 10g network. neil: get to throw to charlie gasparino the greatest business reporter on the planet. you are tuned in. charles: it didn't fly. neil: you are keyed into a lot of important people in the political world and they are combining in the financial world. donald trump coming up with half $1 million to satisfy bond obligations and time is wasting. charles: tiktok since monday, we are probably where we are

going to be, this is not set in stone where donald trump will probably have to handle his properties, things could change tomorrow. let's unpack this a little bit. 's net worth. most of his money doesn't have a lot of cash. if you believe forbes, he's worth $2.4 billion, 3.4, most of it, vast majority is not in cash, tied up in real estate. you can't sell it. you almost can't collateralize it. a lot of it, is with partners, limited partners, ground lease 's, he uncertain part of these buildings, hard to collateralize these banks and insurance companies. neil: if you want to sell it unless you do it at frantic

prices, that would be bad beyond donald trump. charles: this thing from truth social could go public any day through his public application core. it could go public which could give him if you value the stock, 3. $4 billion which would easily cover it. neil: that has to be very volatile. charles: i don't think he could sell the stock for six months, where he could collateralize that. neil: how does this end? charles: tish james puts the chains on the door of trump tower or wherever. i think -- here's the problem. here's the problem she's got and it is what you and i first reported on your show, that if she goes after his new york properties she has to unpack

the various limited partners but you can't dings someone who's not party to the judgment of this case. neil cavuto owns a piece of trump tower, she can't, you see what i'm saying. it gets very complicated to unpack that. what does he own solidly? he owns a property in miami. he owns the -- he owns mar-a-lago and westchester. lauren: 1 wasn't he prepared for this? charles: hard for her to go after stuff in florida, get a court that may be more conservative to agree to take that property. neil: is a possibility, where does he mean need to more red ink? charles: they need to sell it. neil: do you think he puts up a smaller bond and that will suffice?

charles: let's see if she agrees. neil: mayor attic -- mayor eric adams says you don't like the guy but -- charles: who knows what's going to happen but the options, laid out the known options. maybe there's something i don't know, sounds like this is headed towards monday morning she seizes these properties and has to figure out how to unwind everything and this could be a strategy trump employees because i know people in maga saying this thing will get overturned. the judgment is so outrageous it is -- lauren: 1 why prematurely sell your properties. neil: let her figure it out, six months as she figures it out you get a lower judgment or no judgment.

neil: good luck sticking to the business journalism thing. charles: it has been a while since my first economy course. neil: another fascinating story we've been following, the first human being to receive a neural link brain computer implant and we are finding the darndest things, molly line in massachusetts. >> reporter: this is compared to telepathy. that's why this young man is the one on the forefront of this, unveiling all he can do by thinking. you mentioned he can play chess. she's been paralyzed due to a diving accident years ago but in january the chip was implanted into his brain. >> it is all being done on the

screen. it is all me. >> reporter: what he describes is like something out of star wars. >> basically it was like using the force. get to move wherever i wanted. stare somewhere on the screen and move where i want to. >> reporter: several companies of implanted devices into humans developing solar technology called brain computer interface. neural link hasn't released a lot of details about these finical trials that are underway. they are working on these phenomenal breakthroughs. the goal is to revolutionize people living with paralysis or other challenges. neil: is amazing. thank you very much. we are following development out of china.

the wall street journal reporting china's president, xi jinping is keen on meeting us ceos at a forum sometimes this year but we already know can griffin and citadel are in china. tim cook and apple in shanghai, we don't know when the meeting will take place but it occurs as he is trying to get more people to pay attention to it to market to make it more difficult for people to sell stock and easier to buy stock but this comes on the heels of the latest apple news were tim cook might have more immediate concerns having to do with what's happening in the united states where the attorney general, a dozen attorney general going after him for being a bully when it comes to how it runs its apps story and they want to crackdown on that and it could be very pricey for apple. more after this.

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adam: the tech version of waiting for godot. the social media powerhouse makes a lot of sales, expected to debut in the $52 a share range. it's a moving target that has gone up, up, and away. it was supposed to be 30 to 32. supposed to be 34 at launch, then we got 40, now 50, fifty two. high expectations for the rest of the trading day debut at one or 130, has to maintain that momentum the rest of the day. some say their strategy for that, less time to screw up but that's the expectation and if it comes out the gate like that, this company with the $6 billion valuation could be

up to almost $9 billion. keep an eye on that and interest rates. if you are looking to buy home your under 7% of a 30 year fixed backing up a tad but so far if you could stay under 7 you will still keep interest. jared randolph is the real estate business and financial expert investor, verse ceo. that tends to be like a rule of thumb, keep it under 7 things good, over zevon, things not so good. what do you think? >> whatever one needs to realize is the sky is not falling. if you pay 7% today there's three things that can happen as a purchaser. three years from now interest rates go up to 10%, you won because you are at 7%, they stay at 7%, you are locked in, they go down to 4%, you refi, the key is if you can afford the home get into the market today, the amount of stock we have in the marketplace is not

going to get better. find something you can afford and get into the market today but being under seven is the key right now and that is a good number. neil: what about a different number, 6% when it comes to the realtors price on a home? or down less, what about that as a factor? >> realtor commissions will not have any impact on home values because we have a supply/demand issue. what they realize with this ruling around the real estate brokerage is negative and it is not going to benefit buyers and sellers because you need a professional to help you navigate the circus and sell them. julie: don't need them at 6%. isn't that the message? more%. is that the message? more wheeling and dealing. >> they don't take 6% home. that's one of the key things to

remember. the split between two sides. lauren: 20 why would that not make a difference. if i'm thinking twice about putting my home on the market, these things are negotiated and have been negotiated for years. having said that, you don't think in the end it makes a difference, could be helpful, people think i can score a better deal here. >> demand is at an all-time high and we are at an all-time low for inventory. it's a negligible impact on transactions happening in the market today. it's not going to have a major impact, the way this is going to. neil: if you are looking to see a difference in how realtors will work do you think realtors who might have been getting used to 6%, i get all that,

might not work as hard if it's 5%? >> they have to work harder and what you see happening, i spent 20 years in brokerage before i became a developer so i understand this game. there's going to be a lot of brokers who come into the marketplace and agents who have been in the industry for years who are going to leave because of competition around the commissions but these good brokers step up their game and provide a better surface so they do command top dollar. neil: thank you, good seeing you. the dow 309 points, major averages are up and since they held records yesterday they are all at records today. more after this. ♪

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adam: they have a deal to avoid a government shutdown, the devil is in the details, chad chad pergram has the latest. >> the text of the spending bill came out overnight, $800 billion goes to the military, the question is how fast congress can approve it before the deadline saturday morning. the house is supposed to wait 72 hours before voting. that would be a vote early sunday morning, waiting that long imposes a shutdown. mike johnson said the rule is not sacred. >> you said we are going to get this done by friday night.

that would mean violating statutes. >> there is nothing sacred about 72 hours. you want the legislation to be reviewed adequate the before they vote on it, try to maintain. >> reporter: greg murphy questioned the 72 hour rule. his solution, quote, read faster. the bill runs 1000 pages and also includes to billion dollars in earmarks. some conservatives will not support the bill but want to clear the decks. >> i don't like government shutdowns. it costs more. hurts people. >> reporter: other conservatives want to offer amendments to the bill but that slows the process. >> congress must race to pass this package before government funding runs out this friday. was the health acts, the senate needs bipartisan cooperation to pass it before friday's deadline and avoid a shutdown. >> reporter: the senate was anticipating a short shutdown. senate minority leader mitch

mcconnell told republicans to be ready to vote over the weekend after the deadline. neil: easier said than done. chip roi is among republicans not satisfied with this, saying they are showing a lack of backbone. the pennsylvania republican agrees with that. where are you on this? >> this is ridiculous. thanks for putting me on here, this is no way to run a country. let's face it, this is last year's spending. this was supposed to be done last september. we are halfway through this fiscal year for the federal government and they are acting like we don't have time to read, we don't have 70 to are serrated. if they had finished it last september we would have had time to read it. it is ridiculous, $1.2 trillion dropped at 2:30 in the morning with 29 hours to read it if you

read straight through it is a page and a half every minute. a thousand earmarks and this is above the level of spending every republican voted against when nancy pelosi was speaker and getting virtually 0 policy differences. of you don't like where the biden admin the station is heading on policy, energy policy, the military can you name it, you will get more of that and spend another $30 billion and you are going to figure that out in about 24 hours, and the american people deserve better. neil: it sounds like you are angry at the speaker because he crafted this and expected this. >> of the speaker has been put in a tough position. he ended up in speakers position post last september. that having been said, it's not

perfect or even close to perfect but there's a lot of hands in this thing. i would start with the biden administration a democrat run senator refuses to pass any appropriations bills. those are the bills we must pass so the american people can see where they are being spent. bill by bill, item by item when you do this throw it all in one package thing, members are forced to say i have to vote for this big. of federal government shutdown, that was my choice, that the choice the senate and chuck schumer and president biden put us in. it is irresponsible, it is unnecessary and this is how you end up with $1 trillion in debt. neil: this is not a done deal, not even close. may be they can borrow some money from the los angeles superstar, he is being out

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adam: neil: what is japanese for you did what? wondering get what was going on with the better part of 4. $5 million apparently stealing that and more on illegal gambling. his good friend has been fired from the dodgers, never got from baseball or soccer, this is beyond my comprehension. a sports agent extraordinaire and achilles pr founder. what happened here? >> it's a confusing tale. for skeptics it's a slamdunk, for fans of major league baseball, the story as we understand as of now is last fall a bookmaker was raided in october as part of a broader federal investigation. as they delved into his computers they found a series

of wire payments made directly from it. espn got wind of this a couple weeks ago and started sinking their claws and digging their investigative team. i say that to say yesterday or tuesday of this week, they were booked for a 90 minute sit down with espn to say he had a gambling problem and confessed, agreed to pay off the debts but 24 hours later, the world turns, 24 hours he recanted that statement. the interview was scrubbed. ohtan i's wagons were circled, they said he had no role in it and the better part of 4. $5 million has been illegally taken from his account. neil: ohtani's story is not true? >> for legal sports betting, let's back up to 50,000, the

supreme court kicked down that 6-3 ruling, didn't make sports gaming illegal but determined it is no longer illegal on a national level, they kicked it to the states to make their own regulations. 39 of 49 have done so to great financial effect. california, he played for anaheim and the dodgers. california is one of the few that has not. they voted down two measures that would have legalized it. neil: my question, did ohtani front the money? might not be in the -- if he said he did, where does it go? >> it is relative. for legal sports gambling you have to front money. illegal sports gambling which took place here you are allowed to gamble on credit which is how his translator wrapped up a $4.5 million debt. like homerun hitters, you might hit it out of the ballpark but also have fantastic strike outs and the deeper he got in the holder heavier he tried to bet.

neil: he never knew he was getting a deeper hole? where do they stand now? ohtani was part of this series in south korea. this fellow with him? >> yes, he was in seoul but his bags were packed. in terms of who has more to lose it is sotani. the largest in north american history and fox business, he deferred 20 million of that. neil: you think there's more losses that will come up or he could potentially be involved? he says no. >> 100%. major league baseball has a dark history with sports gambling from the 1919 world series to pete rose. that's why they implemented a 3-pronged rule as it comes to gambling, you are allowed to gamble, just can't beyond baseball, number 2, you are

only allowed to use authorized legal sports book apps. the number 3, has to be in a state which permitted and number 4, if you break any of these rules you are subject to discipline which is a minimum of a 1-year suspension but it can go north of that so he has a lot to lose as does mlb from a pr standpoint. they can't afford another black eye literally or figuratively. neil: where does this go? you talk about potential of more losses. his squeaky clean image, he just got married. is a marketing sensation, highest-paid athlete around these days. what about that? >> it is a federal investigation and his lawyers have said a couple things. he had no knowledge of this, never spoken with the sportsmaker out of california and he did not make these payments and this money was stolen and we are going to cooperate with authorities to make sure our client comes out

clear. he has a lot to lose and cooperation is clear, the devil is in the details. it's only the beginning of the story, not the end. neil: he would not be the first major athlete who trusts their money and basic financial instincts to a subordinate and it doesn't work out. >> that is true and as an agent or advisor the only thing more frustrating than saying your client make a mistake is his or her inner circle doing that. those are people, remember a couple years ago adrian peterson, nfl running back, his cousin or brother running his foundation writing checks out a foundation for strippers and parties and things like that and peterson had no idea. absolute freefall. you can never be too careful. i tell my son a dime a smaller than a penny but it is not the size of your circle that determines the value. we 20 i am going to steal flat. still waiting for reddit shares to go up to 50 more a share.

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