stuart: possibly the easiest question that we've ever had is in the trivia block. what's the symbol if for old, au, g, bu, gd. ashley, you've got to get this one. >> yeah, no pressure, stu, thanks. schoolboy chemistry, i'm going with number one, a a u. stuart: lauren:? he is correct, it's number one. stuart: murphy, you're not going to go rogue, are you? >> i am a not. i'm sticking with ashley and lauren. stuart: and me. despite the precious metal being neens gold, it's derives from the original latin worked arum. "coast to coast" is now.

neil: stuart, thank you very much for. that we are make up, as you've been indicating, about a quarter to the a third of the ground we lost yesterday, but it's better than adding to the selloff pressure. across the board all the a averages are up but tenuous here. heavy volume, though not nearly as heavy as a yesterday. as far as seminal events i sometimes look for, uber's numbers that were out and, you know, stuart and his guests were talking about this, but consumer spending is very crucial to this. and the fact that uber was saying all a green lighting things look good, the consumer's busy and buying, that sort of offset the news out of pepsico and heineken that consumers are pulling back a little bit. that sort of reconfirmed or at least got rid of some of the worries folks had that we were going into something deep like a recession. that might still happen, folks, i don't want to say that a this is something that has come and gone, but it was a seminal development. we always look for these little

pockets of good news, and that was a particularly promising one on this turn-around tuesday. kelly o'grady is taking a look at what's driving this turn around at this very minute, hey, kelly. >> reporter: that's right. markets are rebounding, but we could be in for what's called turn-around tuesday. it's already a bullish day for the markets normally, but there's this phenomenon where markets kind of struggle on thursday, friday, monday and then you see this cup wing on tuesday -- upswing on tuesday. investors are jittery on thursday, hedge on friday and then there's an all-out sellout on monday, certainly what we saw yesterday. by tuesday though investors see see a buying opportunity, and that trend reverses. and bloom birdied an analysis and saw that -- bloomberg did an analysis and said when market see a recession in the three previous sessions, you see on tuesday a rise in the s&p 500 on an average of 0.63%. now, we are up well over that,

1.75% right now, but, of course, there is still plenty of time left in trading today. so let's look at the big winners and losers on this turn-around tuesday. kenview had a strong the earnings report, up 14% right now. royal caribbean also a benefiting from this turn-around a tuesday, up close to 10%. and then uber, right? you mention mentioned that off the top, climbing after revenue shot up 16% in the second quarter. of course, also got some losers, vulcan down on rough earnings report, boeing also down 1.3%. of course, that hearing on the door blowing out of the plane, that kicks offed today, so likely some jittery investors there. want to finish up with what's going on with the 10-year, treasury. we're seeing a beg -- big rebound after hitting the lowest level since june 2023. there was concern the fed might cut rates imminently. you're seeing this rebound after comments especially from austen

goolsbee of the fed saying, look, we're not in as dire of straits as everyone might see. we'll see how this turn-around tuesday dose. if we do end positively, is that sustainable, or is there more room to the fall off a cliff? send it back to the you. neil: and by the way, have a wacky wednesday. see, i had a lot of trouble finding the day and rhyming something with it to make sense, but so far the turn-around is fitting the bill. susan li is following taj stocks, i took -- technology the stocks. at least four of the mag neff sent seven are up. what's the late nebraska. >> really it's a prove me moment, neil, for the world's biggest tech company since the mag 7 have expected for nearly 60% of the stock market gains over the past year, and now they account for an acon the isishing one-third -- astonishing one-third of the s&p 500. seven names make up one-third of the s&p. and so that means that for every

$10 invested in any index fund, and i know you have a lot of them, $3 plus goes into these seven names. i mean, that's incredible. almost a trillion dollars though in combined losses for these seven stocks during monday's selloff, and nvidia itself has lost a trillion dollars in value in the past month alone. and that's because, look, there's been a rethink after the huge rally from the a.i. hype scale. the so-called hyperscalers now need to prove that they are worth their expensive valuations, and so forfar six out of the seven that have reported earnings so far have shown that earnings growth is expected to slow. expected to only grow 17% this quarter after growing 30% in the springtime, 50% growth in the first quarter to the start this year. now, couple that slowing growth with a huge spend on a. a.i., and investors are getting a little nervous at this math. virtually every mag 7 stock that has reported so far, and i've

spoken to a few of their top executives, they have said they're going to spend a lot more building out a.i. in the next year. and most of that money, going to buy nvidia chips, of course. but nvidia says its next generation a.i. chip blackwell has hit a production snag and might be late to the market by a few weeks to a few months. apple, after the antitrust ruling that alleges google runs a search monopoly, but the reason why apple is down is because that's a $20 billion payment apple gets each year from google to be the default search engine on the iphone. now, these losses means that a few bell less in the pocket of the world's richest but, neil, i'm sure you know this from firsthand knowledge, when you're worth $100 million, you're -- $100 billion, you're not going to miss one or two billion, right? neil: i don't know, it's like couch money to these guys. when you were talking to the alphabet guys a few weeks ago a,

did this court case come up at all or where this could go? i mean, they were pretty optimistic, you know, it was a report that kind of beat estimates but maybe it was an early signal that that a wasn't enough. what did they tell you back then? >> reporter: yeah, so i spoke to alphabet's president, and i've asked her over and over again about regulation and how that might bite into the bottom line, and what they've told me in relation to this 55-month anti-- 5-month antitrust trial that finally got a verdict from the u.s. district judge, look, this is going to play out over the long term. think about it, they could, of course, peel this -- appeal this ruling which might take another five years, and they could the possibly, if there's a fine, of course, pay that. but there could be some small changes that they could offer the doj or the district judge. so they tell me this is a long-term play for them. they're focus on building out a.i. technology, and they're still spending a ton of cash, neil, regardless of the regulation and the oversight.

$60 billion possibly this year on a.i. neil: incredible. all right, susan, thank you. susan li. we'll be updating you on how things are going. i do want to go to jonathan corpina, meridian equity part partners. when i look at the activity, one thing that strikes me is that the fear index is not nearly as a, well, fearful as it was yesterday when we shot up, to i think, 65. the highest we've seen in four years. that's a good measure of how folks were feeling, and they were frantic yesterday. i think we're around 28 right now. i don't know whether today is more real than yesterday, but what do you think? >> yeah, you know, neil, we didn't compare notes coming into this conversation, and i'm glad you brought up that,s because that was one thing i did want to discuss. looking at the activity we've seen in the vix, it was caught in off is range, 15-20, for quite some time, and that's an area that we like to stay in. once it breaks above 20, that's when we start to perk our ears

up. clearly, what happened over the prior trading session, trading as high as 65, pulled back yesterday, started to rally a little bit but then another selloff today, trading around 25, 25.5. i think that's a good indicator, and this is something we were looking for coming into today, was this selloff going to continue through multiple trading sessions. we watched activity overnight in asia and europe, and we're watching the vix. and what we're seeing here now is that, yes, there was a cull my mission of all this negative news, none of which is essentially new news, but it came to a point where everyone felt like this was the catalyst that was going to take some risk off trades and put that onto the table. as kelly was saying before in that lead-in, we see that trade. we see risk coming off on thursdays and fridays. there's so much activity that can happen over the weekend that we start to see that selloff, and then activity picks up again during the week. so considering the geopolitical issues we have out there and the uncertainty of what, you know, economic data and we're getting

more clarity on the fed, we have got some u.s. election announcement that came out today, that adds a little claire entity where that's going, but we don't know what the outcome's going to be in november. you put all this together, and it's good to see the selloff didn't follow through in the global trading sessions, we're starting to see a rally today. but we are still early in the week, we've "la -- a lot of economic data, a lot of earnings this week. we're going to see if this rally can continue and be sustainable. neil: you know, the one thing that struck me, jonathan, is the role of the federal reserve. you look at a this stuff much more closely than i do, i think their betting almost 100% we're going to see a rate cut in september. there is a 70% sentiment that it'll be a half-point cut. there's a separate argument that the fed could move even before that meeting. where are you on this? wouldn't such a premeeting move actually trigger more pan inin the markets? your thoughts -- panic in the markets? your thoughts. >> yes, that's what i think.

i think any unannounced move in interest rates prior to september meeting will have a negative impact, will have a negative effect of what they're trying to do. we can debate back and forth has the fed waited too long, what has been their process, what has been their messaging and has that been correct, but the fact of the matter is this is where we are now, and all indications are we're going to get a cut in september. i think the way the fed has always moved lockstep, baby steps along the way, they put something in place, they wait to see the reaction both from the market and from economic data, and then they'll make an additional step. we could argue that a larger than 25 basis point cut would be appropriate, but i think with how fragile our markets have looked over the last five or six trading sessions, i think they're going to want to move rather slowly. and then once again, you put into effect the concept of when we get that september cut, we're closer and closer to that u.s. presidential election. they're not going to want to

make too many waves hate of that. so i think, yes, a cut is imminent. i think that's the right decision, this is the right timing, but their not going -- they're not going to swing the bat too far. neil: i am curious what you think can of the consumer because much of this was triggered by the unemployment report on friday that you'd almost thought we had lost 1 is14,000 jobs -- 114,000 jobs. i know it was less than we thought we'd get. for the fourth straight month, the unemployment rate climbed. that a worried folks. -- that worried folks. i'm old must have to -- enough to remember when we were giving up thousands of jobs. i don't see it as a meltdown moment, but i'm wondering what you see and when you think it doesn't take much to rattle folks that you can still have jobs gained many a given month, more people entering the work force and still passenger over that. what do you -- passenger over that. what do you make of it?

if. >> right. it's a lot about managing expectations, right? if we discussed this with economic data and earnings reports, right? the earnings have not been blowout earnings, to say the least, but they've been fine, and heavy season acceptable. but when -- they've been acceptable. when the bar is set too high and the outlook isn't as a rosy as what analysts expected a that each when you -- that's when you start to get some fear and passenger. we were expecting the jobs numbers exactly where it was. we wanted it to be there because this would almost force the fed to cut rates in september. we've seen uptick in the unemployment rate all along, and this last tick said, okay, jay powell, you have all the data. this is solidifying what your next step should be and go from there. but once you start talking about jobs numbers and creations and hourly wages and earnings, when you get to that point and we don't hit those expectations albeit they're still good number, well, then it's viewed

as bad news. and sometimes the fed has to take that into consideration, and i think investors have to look at that too. it's like a football team winning by 221 points and they should have won by 28 points. it's still a win, take the win and move on. neil: right. it is, to your point, what people expect. i don't know what they're expecting right now. we'll see as we get through turn-around tuesday or whatever you want to call it. jonathan, great catching up with you. i appreciate it. >> neecialg always a pleasure. thank you. neil: same here. mane while, we are seeing interest rates back up a little bit. remember, we got down into the 3600 something neck of the woods on the 10-year. all that was happening, and yet mortgage players and home builders marley were tanking. -- particularly were tanking. just the opposite. we're backing up a little bit on the rate front, and all the home builders are up. we'll explore that with ryan serhant and what he sees after

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♪ >> the federal reserve had a

wonderful opportunity last wednesday to lower their fed funds rate by a quarter point, and they didn't take it. i think that was a big mistake p. now, we have followed fed policy not just our fed, but the central banks of other countries as well. and what they do is they follow the free market interest rate with an average lag time of five months. well, the fed decided to do the usual lag time even hoe the 3-month treasury bill had gone from a 5.5% yield down to under 5..2, so they really had a big chance there to lower their fed funds rate. they didn't take it. i think there's going to be a surprise rate cut before the september meeting. neil: all right. that is robert protecter, noted bear on these markets, but he says the fed hadmy missed an opportunity when they met last week to go ahead and cut rates. you know, looking back, it's always 20 the/20 the, would have, should have, could have, but he was referring to some technicals that would have warranted a move then. how the markets would have

respond, anyone's guess. how real estate would have responded, none anyone's guest. to ryan serhant right now. netflix has a show with the guy, and it's a rocketing buzz success. ryan, one of the things he ended with there, protecter, was that he expects an interest rate cut before the next fed meeting. what would that do to rates, do you think, besides the rates the fed controls to go down, but could it also panic people into thinking, gosh, maybe they see something i don't? what do you think? >> right now lower mortgage rates this we're seeing this week compared to the highs we've seen over the past year haven't done a whole lot for absorption of what's on the market because there just isn't a whole lot on the markets. so if interest rates do come down, that's going to the put institutional a buyers back into the fray, but that starter buyer that we focus so much of our time on, i mean, i don't know if you knew this, but five years ago there was just over 80

cities in the united states where the starter home was a million dollars or above, okay? today it's over 230 cities. that's what's happened in the last five years. neil: incredible. and we have this -- we had this mexican standoff, right? i mean, where the people that own homes, they're not getting out of them or putting them on the market. a lot of them have very low mortgages, and that's hard to transfer to anyone if else, so they stay put. buyers are itching to to get in, but they can't afford the homes the way they are right now, so where does this go? >> housing is defined by three things. you've got supply, you've got demand and you have rates. so if there are significant movement in rates, you're not going to see significant movement in housing purchase or sales immediately, but you'll start to e -- see it in the following quarter. that's what i'm expecting to happen right now. we're gearing up across the markets up and down the east coast to have one of the busiest

fourth quarters we've ever had in our history, because everyone's going to wait and they want to make sure that they're buying right. neil: you know, you're everywhere. now, of course, i know you're very big in palm beach in florida, big up north, but in very pricey locales, and they are among the priciest in the country. i could probably extend that to the world. what does that the environment look like now? >> if you'd asked me a week ago, my answer might be a little bit different, but over the past four days this is been an incredible flight to quality. anytime we have, you know, you were talking about earlier looking at the vix, anytime we have crind, market volatility, we have buyers saying, okay, where else can i put my capital. what's a great hard asset, and there's your standard flights which are, you know, real estate. you're going to have more homes sold this year for over $100 million than ever before.

it'll be probably double what we saw last year. and it's not just in palm beach, manhattan and the hamptons. you're seeing now, you know, purchasers going out and finding farmland. you're seeing homes in a lot of different markets kind of hit those upper echelons of pricing as people are trying to find a place to put money that they feel is safe. but the luxury market inasmuch as we're concerned isn't as affected by small moves in interest rates. at least not yet. neil you know, i had an analyst on not too long ago that markets ab a hour uncertainty, i get that, but so do real estate buyers, and not knowing how the presidential election works out is yet another unknown that keeps buyers and activity at bay. do you buy that? >> i don't bite as much today as i used to -- buy it as much today as i used to. the election now looks different than it did a month ago. a lot has happened. i think you have some markets where we're seeing buyers sit tight and say i want to see what

happens in november because it could affect my tax it is. for instance, for s.a.l. l.t., right? if something were to change there, that could make a material difference for most people. but i think the general consensus right now is there are much bigger concerns. there are wars, right? the economy is tight. we have unemployment now, you know, in a way that a we're talking about that we weren't talking about 60 days ago, let alone 90 days ago. people want good job, they want to be in good markets, and they don't want to have to move just to get a great home to start their family in. whoever can solve that problem moving through november, that's going to give us a great uptick in the housing market. neil: all right. ryan, we shall shall see. ryaner is hasn't. in the meantime, as he was wrapping up there, we're getting word that microsoft and delta are in a real -- rhymes with hissing match here. and it's over this massive i.t.

outage, remember, it involved a lot of hardware that microsoft was behind as well as crowdstrike. microsoft is firing back at delta for essentially saying it's the on you and blaming us for your problems, but you were one of the few airlines that a had a problem with this can and the thousands of flight cancellations, don't blame us. and the back and forth continues as microsoft is saying right now that it will seek damages from, you know, all the key players in this -- or delta is, which includes crowdstrike and microsoft. so this back and forth and for who's to blame isn't done. and what was the largest i.t. outage we've seen ever, and it reverberates even to now. ♪ pressure pushing down on me, pushing down on you ♪

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neil: you know, one of the reasons why people are optimistic about this turn-around tuesday is that it's getting back to some fundamentals that still looked good before the american economy among corporate earnings which are coming out a little bit better than expected. but there are some problems on that front, and who better to get into it than charlie gasparino who has a great new book right now. i read all his stuff, but this one, i think, is the best to

have the bunch. it's called go woke, go broke. but what intrigues me about its timing is it does cut to the core with some of these costs to satisfy a lot of people pushing some of these woke policies, right, charlie? >> well, i think, you know, neil, you hit it on the head. if you're disney and you spend so much time and effort on dei initiatives making sure every single part of your job, you know, has a certain amount of people in a certain way, which they do, if you're budweiser and you make sure all your influencer s represent, you know, the various shades of the rainbow which they did, if you're a blackrock and you're obsessed with investing along the lines of environmental, social governance to the point where you're force oil companies possibly to cut back on oil production, you know, you're going to have some real problems, fundamental problems with the economy. and i, you know, i hate to try to, you know, draw the direct -- [laughter] the direct connection with what's happening now with the

markets selloff of yesterday, we've obviously got a bounceback today which we should. i mean, it was wickedly oversol- neil: a lot of these issues are built into their cause, right, charlie? and maybe that's the part you should explain, because it is costly. >> it is costly, and it is taking management's eye off the a ball. we should point out that, you know, these are companies -- right now corporate america is flashing sign of recession. there's no doubt about that. they're under tremendous pressure to do certain things that a take away from the bottom line, certain woke things that take away from the bottom -- by the way, if you're an oil company and you're under pressure not to drill, but to invest in windmills, that's a real problem. and they are under pressure both from esg standpoint in terms of asset managers and the biden administration's regulatory agenda. the book talks about all of that, it and, you know, neil, it's kind of funny, i mean, there are hysterical anecdotes and how dylan mulvaney popped up

into a budweiser commercial, that's the trans-inflierns, this crazy stuff that goes down at goldman sachs, how young banker s were arguing about whether it's racist to eat chick-fil-a because the head of chick-fil-a is a fundamentalist christian. it's funny but it's serious. i mean, this is a serious issue that is plaguing corporate america, and now we do see a backlash. you see consumers having a backlash against certain company as that went there. it's target, it's budweiser, it's disney, it's blackrock. and you see companies starting to move away from all their start of allegiance to wokeness. but it's still, it's still baked into the system, and and it's still having an impact. i mean, that's -- and you've got to read the book to -- neil: what's weird about that, charlie, and you brilliantly sort of lay it out there for us, is that even when facing some of these money-losing directives on racial, social, religious, hay

still did it for fear of a backlash. now, some are trying to overcome that, but it's resulted in higher costs of a lot of what they do, and that's inflationary. to say whatever you are ethical views are. >> it is. it's inflationary and it hurts productivity. and, you know, neil, there's never one reason why a company goes woke or does nicker right many there's a lot -- anything, right? what i try to show in the book through funny examples, anecdotes but also through a lot of reporting was the evolution of how we got here. you know, one of the reasons why we got here is because, you know, back in i think 2018 jamie dimon, the great jamie dimon of jpmorgan chase, threw milton freedman under the bus and went to stakeholder capitalism where you're the ceo and you have to think of the world, not just your company. and that sort of distorted a lot of incentives in the boardroom. also a just some of this stuff

is so critical. i spent time at the nasdaq, they have rules which say you have to put a certain amount of people if you want to list on the nasdaq exchange, your boards have to be sort of gender diverse in a certain way, two members of this, two members of that. it doesn't apply the chinese company. chinese companies are under no obligation to hire discriminated classes in their country on their boards. i mean, it's just such a bizarre, hypocritical thing. i mean, goldman sachs won't underwrite, it says won't underwrite stocks of companies that aren't gender-diverse in their boards. they have no problem underwriting -- neil: so gone are the days, real quickly to sum it up because i don't want to give away some of the great features, but gone are the days where companies, especially public companies accountable to their shareholders, now they've got these competing allegiances that are actually going to hurt shareholders. >> yes. the allegiance is to the world, and it's -- and by the way, if

you go in there and you're a ceo screw it up. that's why you hire politicians. one quick note, jamie dimon at one point takes a knee when visiting a branch during the george floyd protest, now they tell me he only took a knee because he needed to fit in the picture, the photo that was taken. not because he was a blm if supporter. neil: i see. >> that'll tell you how much has changed since the height of wokeness back in 2020. neil: it is a great book. always politically correct and super woke, charlie grass perin- [laughter] -- charlie gasparino -- >> i got you. neil: go woke, go broke: the inside story of the radicalization of corporate merge he lays it i out. it's going to fascinate you and depress you, but i want you to get to the end where he offers some notes here. but that is something that is a must-read for any of you if you want to read a good book on the beach or anywhere. thank you, charlie. great job, as always, my friend.

>> you're the best. neil: all right. bryan llenas on debate that the new vice presidential candidate on the democratic ticket thing. what have you got for us, bryan? >> reporter: hey, neil. well, vice president kamala harris and her new running mate, minnesota governor tim walz, will have their first rally here together in philadelphia. it'll launch a 5-day blitz through 6 battleground state ises. and, you know, it really is an interesting situation tonight because pennsylvania's governor josh shapiro will share a stage with the both of them, and he was thought to be the front-runner to be harris' vp pick. walz though, a two-term governor of minnesota, six-term congressman is known as a being a plain-spoken midwesterner. he was backed by senator bernie sanders progressives and also the labor unions like the united

autoworkers. it's thought he could potentially win those voters in those battleground states. and on top of that, there are concerns he may be a too progress bi. there is new -- progressive. he was governor of minnesota during the george floyd protests as there was multiple days of destruction and and riots in that a state. he was criticized then for not if calling the national guard right away or in sufficient numbers. he was characterized -- he even characterized minneapolis' response to that as a, quote, ab abject failure. the trump campaign is publicly celebrating this pick. they are characterizing walz as a super progressive if not dangerous, and there are also, there's also the fact that the former president, trump, he took to truth social and in one line just said, quote, thank you. former house speaker nancy pelosi though says walz is not on the far left. listen. >> she has proven just how

dangerously liberal she is. tim walz is one of the most far-left governors in america. >> to characterize him as left is so unreal. it's just not what the -- he's right down the middle. he's a heartland of america democrat, and he was the chair of our veterans affairs committee. and i don't want anybody to forget that. >> reporter: notably, moderate independent senator joe manchin praised harris' pick. quote, i can think of no one better than governor walz to help bring our country closer together and bring balance back to the democratic party. governor walz is the real deal. harris' decision not to choose governor shapiro, who is jewish, has some characterizing it as proof of growing anti-semitism the on the left. progressives had attacked shapiro over the last two weeks despite the fact that his 12357bs on israel mirrors walz's. here's republican vice presidential nominee j.d. vance.

this is what he had to say before news of the harris pick became public. >> they will have not picked happen row, frankly, out of anti-semitism in their own caucus and in their own party. i think disgraceful. the guy has, in some ways, had to run away from a lot of his biography over the last few months because the far left doesn't like the fact that he is a jewish american. >> reporter: in a new statement, governor shapiro said, quote, vice president kamala harris has my enthusiastic support, and i know that governor tim walz is an exceptionally strong aa decision to the ticket who will help kamala move our country forward. as for the reasons why, neil, harris did not choose shapiro, two sources tell fox that it was actually shapiro's own personal ambition, his excessive personal ambition and concern that could upstage the vice president as she makes her way and campaigns throughout the country. this was a concern that was first brought to the team

reportedly by pennsylvania's own senator, john fetterman . neil? neil: that's right, i remember that. but they're all ambitious you get to that level; right in they're all ambitious. bryan, thank you very much. bryan llenas. >> reporter: exactly. neil: all right, so what is the impact of this highs for kamala harris? -- this choice? even donald trump has a said it's not the vp that a moves the ticket, but the the guy at the top of the ticket. author of the axios' twin cities, tori, what do you make of that? far more impactful, i would think, is the state of the economy, the state of these markets volatile as they are than any choice of a running mate, but what do you think? >> well, i think they thought walz was a safe choice that wouldn't hurt as much potentially as some of the others including in dividing the democratic electorate. really what seems to have driven this is a belief that, as your colleague mentioned, he's a politician who has represented more rural, conservative areas in the past and kind of plain-spoken, can speak with,

connect with and that that salt of the earth vibe, those voters, especially in the blue hall -- the blue wall, excuse me, that democrats must hold to win. but also has this progressive record particularly in the past two years when democrats had full control of state government here in minnesota. that speaks -- it appears he's someone that they think can both bridge the divide between rural, moderate areas and voters and those democratic voters or that they were really at a risk of losing with depressed turnout when biden was the nominee. but as your colleague mentioned, those progressive wins for democrats here in minnesota may also turn out to be liabilities on the campaign. neil: yeah. if you think about it, minnesota has rarely gone republican, only once, i think, since 1960. so it's not as if it's going to the win you the state. >> right. neil: but, you know, it already started as a progressive ticket just with kamala harris on it,

right in so i guess my question has more to do with how you reach out to less progressive americans who are concerned lately with what's been going on in the markets, the economy and all that. does this do anything to address that? >> well, you know, i think governor walz's biography and background is one of the the things that his supporters point to on that front you know, he's a former high school teacher and football player, grew up in nebraska, small town. he always a talks about, you know, 2020 kids, 2024 kids in his high school class. 20, 24. he flipped a seat, held a seat that was held by republicans before and now is. and so they really feel like he can maybe connect with those voters, especially with his, you know, his plain-spoken vibe, right? the midwestern uncle, dad vibe that you kind of saw go viral on memes on twitter, that's something that they think will help connect with and reach those voters. and as governor, he's also

signed of these more progressive laws, he's also sought to position himself -- [inaudible] he talks a lot about one minnesota, he talks about the full state. and so i think that's what they're hoping to the the achieve with him. neil: all right, we'll see. hope always springs eternal when you get these picks, and then the all of a sudden they're a problem. they can rarely help you one way or the other, but a bad pick can certainly hurt you. >> right. neil: thank you very much. good insight on all of this. you know, there is a banner story flaker on market watch right now, one of my favorite market sites, and it says the vix is falling, but it hasn't given stocks the all a clear. it's half what a it was yesterday, but it is still worrisome today. and why the site is saying this is something you want to watch, because -- just because people aren't as frighted as they were the yesterday -- frighted as they were yesterday, they're still pretty frightened. ♪

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♪ neil: you know, all the major market averages are back and so, too, a lot of the cryptocurrencies and related plays that were getting hammered yesterday along with stocks. there was really no safe havens yesterday save the utilities and, by extension, treasury

notes and bonds. so the comeback in bitcoin and etherium can and some of these others is indicative of maybe something that might have more staying power. but it's only a day. let's go to natalie brunell, the coin store's podcast host. natalie, should i believe today the or yesterday when it comes to some of these crypto plays? [laughter] >> hi, neil, great to see you. well, you know, bitcoin -- it's a great day to buy every day. and i think there's a saying during times of panic, a genius is the man who can do the average thing when everyone else around him is losing his mind. and if just dollar cost average into bitcoin, ignore the noi.z bitcoin was $25,000 last august, to zoom out and remember that markets go up, but they can also come back down, and the corrections are really great buying opportunities. neil: now, given the market volatility, i thought i would have seen, you know, the bitcoin and some of these oh plays -- other plays hold their own as an alternative. gold typically has been the hedge of late.

it's down a little bit today, but it's in and out of these all-time highs at close to $2500 an ounce s. is it a battle between gold and bitcoin? >> i think bitcoin improve it is the properties of gold, and bitcoin is digital capital. you can trade it globally, 24/7, without permission from intermediaries. so when people want to express sentiment on market shifts or geopolitical risks overnight or on a weekend, there are very few things they can sell instantly. think about what that says about our 21st century system, neil. we are interconnected through digital technology, and yet we're crawling on 20th century rails and schedules when it comes to moving capital. securities trade monday through friday, 9:30 to 4, so 135 hours of the week you can't move capital. everything is slow and expensive, and you have to get permission from your bank which has to get permission from the central bank in what's ultimately an overleveraged,

overfinancialized, undercapitalized system. and so while many people don't understand this yet, bitcoin is digital capital, and its volatility in times of panic is actually a feature, not a bug. it shows how liquid and reliable it is. neil: you're quite right about that. natalie, thank you very much. want to get reaction from ashley webster and scott martin, what they make of this. scott -- scott, many people have looked at some of the cryptocurrencies and everything else as sort of a safe haven when things are volatile, but lately it's not been that. i'm just wondering what you make of that. >> yeah. i think at times, neil, it can be. but if you look at the history of, say, bitcoin and etherium, it kind of follows closely to the nasdaq. if the nasdaq has a rough day, you saw bitcoin open down about 25% and obviously rally throughout the day and coming back a bit today. look, i think bitcoin has to be in its own asset class. if you're adding bonds to your prrvelings i think bitcoin has its own spot but also a don't be

consider rate of it as far as a complete hedge because it does tend to follow the stock market. neil: yeah, you can go to ashley route, he's magnesium futures. it's novel, but he gets results. [laughter] ashley, what do you do? a day like yesterday, you say it might be a the turn-around tuesday, i don't know where the heck to put my money. >> i think the fear is still there, the jitters. it's funny, i was looking at europe, they started out strong on the back of the asian markets and then by afternoon a little bit of doubt started to come in, and they closed essentially a little higher. the french markets finished down, but i think it just shows, you know, natalie did a great sales job on bitcoin but not that many people have the intestinal fortitude when you see these markets dropping as they do. bitcoin was down to $49,000. and we talked about it yesterday, you know, you're fighting the algorithms as well. so it's difficult to jump in.

there have been some today, some certainly big tech name getting some investment today, but overall i think until we put these recession fears to bed or at least the feel like we're on the path to that, i think neat squirters could continue. neil: all right. gentlemen, thank you both very much. i apolo use for the shortened time here, but we are following these fast-moving markets here. and we are also following what's going on with the dow making up close to half of the losses today. but not all the average as are. it's generally been across the world making up about one-third to half of losses experienced yesterday. yesterday. is we're a long way from make up ground. r this. and more about discovering magic. rich is being able to keep your loved ones close. ...

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energy fuels, a leading american uranium producer, is ramping up production to supply expanding nuclear markets and diversifying into rare earth elements, key ingredients in many clean energy and defense technologies. energy fuels. neil: all right, i don't know how these next three hours will go. i do know that when all is said and done today we might want to thank uber for saying that consumer spending has never been stronger, as its profits jumped, putting to bed or at least to rest the pepsico and