by housing and then a plethora of the reasons and only 2% left because of the weather. now, what i thought was missing was the table on crime. we know it's a large region for the area in chicago. my things, folks, think about this as you're watching dnc, i think this could be a microcosm of the entire nation if we follow the same policies that chicago is following. chicago is one of the mightiest cities in the world. won't even be a top ten population city and keep in the back of your mind and where they're having this party next week is a place that's fallen completely apart. it's fallen apart for one reasonable: the policies. i say that as i leave you with liz claman and the market that's trying to rebound. liz: interesting policy that's coming soon as far as alphabet breaking news and alphabet and

investors spelling out sos kicking off the final hour of investors and the stock is biggest drag on the nasdaq 100 and one of the biggest on the s&p and multiple reports now indicating the department of justice is considering breaking up google to neutralize its dominance in the search market. the company engaged in anticompetitive behavior in order to control search. dismantling the company by the way is just one of the doj's ideas that could be painful for alphabet going forward. dan niles of niles investment management is shorting the stock and started before the courtroom ruling and what did he see with his position? dan joins us live coming up. to the market with a choppy day and benign consumer inflation report this morning and dow

industrials has been in the green mostly for the session, up 288 and s&p up and out and up 20 at the moment. nasdaq down 20, pull down not just by alphabet and right now tesla had topped $208 a share but right now it's at $208 and change and down 3.5% and maybe a give back with 5% gain. it's going up 25% and secure on the announcement chipotle ceo brian nickel will be the new starbucks ceo and perhaps the fall is a sort of day after realization that the issues nickel attacked and subsequently slayed at chipotle with a food born illness crisis were far different from the mag quote problems and trying a weakness and competition and slowing the u.s. consumer and they've faced the past couple years and

starbucks come up after the floor this session and it's down just under 1% at the moment. there's no second guessing by mars and look at this, privately held mars, which owns wrigley's gum and snicker's bars inserted kelanova's brands from pop tarts to cheese its on the website and the deal still however needs regulatory approval. for now it's at a high. toss in mna and july report that's in line with investments and what does that mean for investors for signs to keep on adding to portfolios and start scaling back and going for them

and john is joining us now. are your antennas still up or looking at prices these days and the bull market. >> definitely our antennas are up and in a good way. for the longest time there's been one tree that we've talked about ad nauseam and that's the mag seven. large cat u.s. tech growth has been a dominant trade for like seven years and the reality is with the selloff in the market and broad based and if you want to own bonds and own gold and you want to own value like banks and energy stocks, values there to be had for the first time in a longer shot and diversified. liz: look at glittery objects and not distracted and ci and they've been real winners.

>> what is the danger and it's got two down months and volatility up till last monday or two mondays ago has been asleep. there's been no volatility and they're up to the right and there's where i'm scared and glittery objects letting their guard down. liz: everybody on the show come in and that's ai is real and it's real and it's definitely something and it's a very long vapor trail. >> you have to separate who are those selling the shovels and the pick axes that make ai happen and those that are investing in ai now.

till you see nvidia reports on august 28th and a lot of clients own nvidia, and if my eyes are going to be on the inventory level. if inventory starts to expand on nvidia, then they're not going to be able to sell everything and if they want at whatever price they have and look at facebook and other urge and that's going on right now. it's inventory that nvidia is going to be the key. liz: what would you tell investors who have made a lot of money on the runup of all the chip makers that have splashed ai all over their earning reports and they've taken enough off the table to get original money back that they invested. what are they doing with that money? where would you tell them to put it into the value stock or would you say a short term t build? >> great question. >> it's sensitive and taxable account or a tax sheltered account and say it's not tax and

will don't get charred to capital gains and look at t bills attractive here and healthcare stocks are attractive and utilities are going with a three month t bill at 5.2% yield. >> gold is attractive and despite the runup and if you're nerve out about what's going on in the world and there's a lot of reasons to be nervous about what's going on and it's politically and geopolitically on the debt situation in the u.s. and the fed -- the economy slowing and potentially recession probability has gone up since the last jobs report. and all that is bullish for gold. having gold is a portion of your portfolio despite the runup and going to be important and that's one of the largest positions for my team that we're buying with new money. liz: good to see you, john. thank you very much on yet another choppy down all around and hard to be slow.

liz: the secret is out and sticking with them and it's all pumped up on a major announcement and we'll have big news and what the stock is doing coming up .x get ready for tomorrow, we've got exclusive double header on the claman countdown and wal-mart reports out tomorrow and sure to be a crucial one and wall matt chief financial officer and only going to be on our show. and robinhood stock has soared 76% over the past year. ceo vlad here in an exclusive viewing and dow jones pushing the dow jones back up above 2,000 and gain of 495 points on the blue chips. stay tuned, we're coming right back. ♪

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liz: break news, this just hitting the tape. put up sono shares. they're falling about 3% on news that the company is cutting approximately 4% of its employee work -- 6% of employee work force and the stock is coming off the news and sono incurring between 9 million and $12 million in fees and stock of audio equipment maker is down 33% year-to-date. the fulls are ordering up shares of foles robotic and anay nounsed a partnership with -- look at them. eventually seeing them on the streets of los angeles and announced a partnership with shake shack and part of the tieup of customers using uber eats to order from shake shake locations and receiving orders

and buy up those little rolling robots that are known for those last mile delivery. in second quarter financial report released yesterday and company announced 85% year over year increase in daily active robots and shake shack up about a third of a percent and ting a gain of about 39 to 40% served while jumping 8% and part of the story and robotics company skyrocketed just under 400% this quarter after nvidia disclosed a $4 million stake in the company. the parent company of chilis getting the cold shoulder and brinker international on pace for the worst day in more than two years after posting a profit miss for the fourth quarter along with down beat earnings guidance for 2025. disappointing earnings figures overshadowing the better than expected rise in sales to

$1.21 billion and ticker symbol eat losing about 10.25%. off the lows of the session. shares of victoria secret getting super sized jumping 16% and lingerie brand on pace for the largest percentage increase in three years after appointing hillary super as its new ceo. hillary super most recently served as ceo of savage fenti and the brand of rendition of rl have her work cut out for her because victoria's secret expects shares to fall and shares fall about year-to-date. actor investor elliot ramping up proxy fight at southwest airlines and elliot announced today that it plans to nominate 10 independent candidates to southwest's 15 member board.

okay. everybody out; right? we shall see. the nominees that they're putting forth reportedly include david kush, the former ceo of virgin america and robert milton, the ceo former of air can dam it they're getting a bump of the news and up a quarter of a percent and year over year, the stock has fallen about 24%. so thanksgiving why you get activist -- so that's why you get activist investors walking in and out. two and a half weeks to go till the last long week of summer. will travel stay hot while inflation cools. s&p and dow, nasdaq and russell are moving lower. ♪

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♪ liz: the price ovtravel ismakr price index report, air fare haves dropped 2.8% year over year and prices of lodging away from home and prices of hotels fell 2.8%. great news for the consumer and what about at travel business and online one stop shop for travelers looking to book flights and hotels and rental cars and cruises and whole vacation package and cost of travel is easing but what is that a function of? a function of prices returning

to normal or nervous consumers starting to balk at discretionary spending? >> varies looking across product verticals and airline business and i think what's happened there is the airlines were a little too anxious yous and announced they're going to pull back that a capacity. even some of the change chains have said on the leisure side seeing softness in pockets of the shoulder period. getting in on that last vacation day of the year. liz: softness. i bring that up, we notice that had these algorithms that scrape

all of the conference calls post-earns that in many of them, using term softness more than the past coming to the consumer and can you give us a sense of what you are seeing? >> that's a fair term and not calling it a slow down but a bit of softness here and there and consumer is reach ago point now where they are making conscious decisions on how to spend money and travel list historically a highly prioritized part of the lifestyle but making decisions around the enemieses to decide what activities will i do, what style of hotel will i stay? ? there's pockets of softness and on the leisure side and corporate is healthy and strong and group travel is strong and liz: very specific and price line could be an indicator or a

proxy forthe sentiment of a consumer who is thinking about traveling but doesn't want to break the bank. are you seeing a sudden influx to your web side for people looking for much better deals? >> yeah, people are out there scanning and looking at what we do and using technology to help consumers find great prices. the higher start category hotels are holding and demand is good and further down the start categories into the 2.5, 3 and 4 star people -- below the 4 star people are looking for discounts and deals in those categories and serving those up whether in packages to help you lower the price of overall trip or ex-prez ones and that's seen a lot of pickup in the last month. liz: that was an absolute freak

out for investors of airbnb and stock quarter to date down 22% after brian, the ceo coming on the show a lot came out and said he was starting to see shorter, i guess he call it is shorter booking lead time. meaning people are waiting proceeding airbnb in early august? your parent company said there's shorter booking lead times they see. how worry some is something like that? >> well, that booking window is not expanding quite as fast and consumers are spending take ago bit more time to plan and book

before they pull the trigger, and that in near reigns leading some folks -- in theory they believe that'll bet them a better deal and in some instances not always and in the airline waiting for the last minute can be a much more expensive premise. liz: what are you seeing as to where people want to go and what they're spend something >> yeah, a few key things and people are prioritizing events and sporting events hit the top of where people want to travel, college football is back in play, major league baseball in full swing and we've got u.s. open happening in new york and new york is a top destination and people still going for a top destination and beaches are still really hot right now, no pun intended. that's where people want to go with a last beach vacation of

the year and people are going up all over florida, key west, tampa, myrtle beach, mexico, cancun, bahamas and that's where people are labor day. liz: vegas has gotten so, so popular. i think you're right there. brett, great to see you. thank you very much. >> you bet. thank you for the time. liz: well, they say breaking up is hard to do, especially if you're forced to. we've got a report on the potential u.s. plan to break up google. plus, we'll ask top tech investor dan niles what he thinks will happen. he's already shorting google parent alphabet. one of the top outdoor retail apparels started as tiny hat business founded by a man that escaped natzi germany and made his way to portland, oregon. he expanded to include things like fishing vests and handled reigns over to wife and son-in-law and the columbia sports ware was born and sudden

death left the family with broken hearts and near bankrupt business. that's when his son tim quit college and stepped in with his mother and going for him to have it with he and his mom with a world of business. how was the xeroexperience. the tim boils and my guest on this brand new podcast episode and listen to everyone talks to liz on apple, google, spotify, everyone talks to liz wherever you get your podcast. we're coming right back. don't go away. there are many ways to do things. at old dominion freight line, we do them this way.

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call this number. the worry every single month to make that payment was gone our customers' homes are taking care of them. maybe, your home could do the same for you. call finance of america, the country's #1 reverse mortgage lender and get your free info kit. call this number. liz: google seeking a get out of jail free card after a u.s. judge call it had a monopoly back on august 5. the company plans to appeal that ruling but reports are now bubbling up that the department of justice is working up an

alphabet soup of remedies against the search giant that include a potential breakup of google. what would a dismantled google look like in grady trimble from the nation's capitol. reporter: hey, liz. we hope to learn more early next month and the next hearing in this case is then and a number of ways the government could break up google and android operating system or it could force it to divest its license or user data and rival of things with duck duck go and bloomburg was citing unnamed sources familiar with justice department attorney conversations and reports these options are on the table. we reached out to google and they're not commenting and the doj tells us no decisions have been made yet. if the u.s. force as breakup of google, it would be the biggest since at&t in the 80s. to recap, how we got here earlier this month as you noted,

the judge in this case found that google monopolized online searches and primarily by paying tens of l millions to other companies like apple and phones and other devices and to be clear, breaking up the company is anything but a done deal and no malter the outcome, google is noted and coldslaw things down and dismantling things and that could hit along too and look back to two decades when the government tried to break up microsoft and that did create an opening for other tech companies to get in the tech space and innovate and the attempt to split microsoft into two companies was overturned and we've learned today, liz, that app 18 rolling out a new feature that will allow users to make contactless payments separate

from apple pay within different apps and might recall the doj is going after apple for antitrust as well. this allows banks and other users to go after apple. liz: that's a proactive move. thank you, gray for teeing thaw. looking at today's stock drop and exacerbating the recent slide since the company reported earnings back on july 23rd, the stock lost about 12% but my next guest started to see cracks in the tech giant stock potential and he began shorting it well before the doj won it is argument that google is a monopoly and niles investment manager and founder dan niles. what did you see that had you shorting this stock? >> welshing i'm sure a lot of

your suggests are around ai and the money being spent on ai. the question you have to ask yourself is do i think these other companies, whether it's microsoft or openai or proplexty or clawed, will these guys take share? if so, how does google keep over 90% market share on search? that's why i started shorting the stock and it had nothing to do with the antitrust situation. some people who could make the argument that the company's broken up, it would be worth more and broke un-up in pieces, but at the end of the day, some of the agreements that google has with companies like apple to be the default search engine think that's going to go away in my opinion. there's not much chance and so that maybe 80% plus share is a big issue and that's negative on it and going for the antitrust

case. liz: some of the numbers at youtube, which alphabet owns and didn't look as healthier in the paint before you see anything worrisome about youtube? >> yeah, that was a bit of a surprise in the sense that if you compare it versus meta in particular, and you were on both conference calls, meta sees no problem with demand and they were on that call and they miss about 3% in the business and then as importantly the overall company was guided about 2 to 3% soft guidance and inform the guide and below where current force was for september. and you put them together and talking about what could be happening to youtube in the sense of amazon showing a bunch of that and disney with the

streaming services showing ads and netflix showing and you understood you don't have infinite amount of ad dollars to spend and maybe that's having impact on youtube and what's interesting and it's not impacting what meta is seeing and that's why we like meta quite a bit and we don't like google. liz: do you foresee other big names that are probably shaking in their shoes coming to doj efforts and targeting them because grady trimble just pointed out apple is making a few sort of proactive moves to open up options when it comes to app store. what do you think if it is amazon and is apple nervous? >> it's big and if they're successful it's nervous and i think it's -- i don't agree with it because looking at apple and saying they've got 20% market share for global smart phone units and that's not a monopoly

to me. i can see why you're going to get worked up over that. but quite honestly it doesn't matter big is bad and political climate and all the companies and people are going after and for antitrust and they'll see what they can get out of it but, yeah, i mean all of them are dealing with trying to make proactive moves taking some of the heat off and they're trying to lobby in washington and now we'll see where it turns out and i don't quite honestly spend a lot of time focused on that and two years from now, there's a lot of thins that hold the stock. liz: they can put silly string all over everything and tie it up and trip everybody up. see what happens. bringing up apple, talk about

the iphone market and i recollects phone 16, haven't given an exact date and unveiling it and all eyes are looking with it comes to this issue about what kind of adoption people will pounce on. will they grab it because it held off on getting a new iphone? supposed to be announced sometime in september. that's when apple traditionally unveil withs a lot of fanfare. what are you looking for and you just had google come out with the android phone, brand new pixel pro that's foldable. >> apple is one of the few companies that's consumer faces where you'll see the user really accelerate and part of the reason is because revenue has been so horrible the last three years including in year. look at two years ago, they were up 2% in total. last year they were up 0% in

total. this year forecasting to be up 4%. it's pitiful growth comparing it against the other big tech companies and the reason is everybody upgraded their iphones and pcs and their mac books and i pads and everything during covid because you were stuck at home and having to work from home and play from home and entertain yourself and go to school, i know i did. you'll have double digit growth next year accelerating from next year and people have the line and this gives them a reason to say, hey, it's the one device you have with you all the time on you. and now can have ai features on it and it's really good. liz: fresh psyc cycle and nvidid market cycles down below $100 a share and back above it at 117

charging ahead and does anything stop this gain we've seen in this ai chip maker. >> there's a short term and long term and focusing on the long term. analogy, which is the internet buildout and navigator showed up and heard about this thing called internet and late 1994 and cisco was nvidia equivalent back then over a six year period of time, the revenues went up 50.5 times from the fourth quarter of 94 and the stock went up 4,000%. and up 12.5 and nvidia dominant more than cisco was back then and they have to compete with lose end during that period of time and there's no other option than nvidia right now. so i think over the next several

years, you're going to see the revenue coming and stock double from current levels and does not mean that much like with cisco, you won't see the 30 to 40% selloffs in between as you go through a digestion phase, which i think you're going to see at some point late this year into next year. liz: maybe the moments are a buying opportunity as you have the vision for it and, dan, great to see you. thank you very much. liz: liz. reporting after the bell and year over year, down about 15.6% and we'll be watching for that and we already have a crypto mom. now will we have a crypto dem? charlie gasparino next on the zoom call being held tonight to pringle kamala harris campaign into the crypto fold. stay tuned, he's got that story next. ♪ ennifers. jen x. jen y. and jen z. each planning their future through the chase mobile app. jen x is planning a summer in portugal

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liz: bitcoin looks luke it is about to fall, well it just did, just fell below 59,000. >> because of me. me, me. liz: he wants to take credit for everything. yeah it is falling about 2.6% ahead of the highly anticipated virtual town hall hosted by the new pro-crypto advocacy group, crypto for harris.

comprised of very well to do democrats. mark cuban, skybridge capital scaramucci and a bunch of democratic lawmakers. charlie, one person not there, kamala harris. they want to get the message to her though, right? >> this thing sounds so absurd. it is so out there. liz: why? >> sew crypto for harris. when the harris-biden administration has done everything it can to destroy the crypto industry in comes anthony scaramucci and mark cuban saying that didn't happen. it is almost like -- liz: what they're saying, let's convince her not to follow that same path. >> come on. liz: what? >> let's convince her? she spent four years, her and joe biden literally trying to destroy an industry, take it off the face of the earth, messaging from the treasury secretary, from everybody in the administration. this is gary gensler, this is

the wild west, got to get rid of it, you know, most of these are securities. exempt for bitcoin although they have kind of, gary has had a come-to-jesus moment with ethereum. liz: so has donald trump. he had dissed crypto in the past. >> donald trump didn't, listen, donald trump was not, did not unregulate crypto, we should point out. liz: this is true. >> jay clayton, sec chair brought the case against ripple but the amount of regulatory oversight that gensler and biden and harris did compared to trump is light years. the trump people were much more of a lighter touch and mostly on these sort of crazy digital coins that popped up with no sort of backing and things of that nature this is much more broad. they went after coinbase. so in any event it will take a degree of gaslighting for anthony scaramucci and mark cuban, people i know well, like for them to convince people that you know, kamala harris is all

for crypto. will they pull it off? well, you know, kamala harris' approval ratings are up now. looks like she is beat donald trump theoretically if the election is held today. you might be able to get people to join. i mocked them and said this was rich white crypto dudes for harris. liz: there are a couple of non-dudes in there. >> a couple non-dudes in there. liz: kristin gillibrand. you don't have to say that anymore. >> i said, i'm correcting myself. they have gone multicultural finally, but in any event it's going to fail. it's not going to happen. crypto, despises the biden-harris administration. it is an anti-government, big government industry. harris and biden are big government writ large and, this might get anthony's name in the press a little bit. maybe cuban's name in the press but it ain't going, nothing is going to happen here. liz: you said gaslighting. i feel like this might be a

strategy session. have you ever considered that where they're talking to democratic lawmakers and saying, how do we reach the harris walz ticket and maybe convince them to flip-flop? politicians flip-flop all the time. >> right and she's done it. on fracking. remember she was against for defunding -- liz: they all do it. >> now against defunding the police. kamala harris is huge on flip funding. >> kamala. >> maybe she can do it here, i find it really hard to believe, because here's the thing. for her to flip-flop on crypto, she would have to disavow the most powerful force, economic force in the democratic party, who is, who is elizabeth warren, the senator from massachusetts, who has been, you know, famously anti-crypto, best buds with gary gensler. she would have to say elizabeth warren is wrong. elizabeth warren back off your hatred for crypto and that ain't

happening. and you know, so that's, anthony and cuban can do whatever they want. unless they get her to disavow elizabeth warren this is a waste of time. liz: i guess we'll know tomorrow or tonight. >> ellie tariq is all over this stuff will have updates on her twitter page. i will do it as well. liz: charlie, thank you very much. make sure to tune into fox business coverage of the democratic national convention. that starts monday, august 19th through 22, through the 22nd sorry. closing bell seven minutes away. looks like the dow is the only solid gainer out of major indices. the s&p is up just slightly by 16 points but on its way to a fifth positive session in a row. meanwhile the nasdaq is lagging behind just a bit. we have it down eight points. the russell is losing about 11. okay, so dow component cisco systems i already mentioned it, you just heard dan niles talking

about it, on tech to report its fourth quarter numbers after the closing bell which is minutes away. shares of the network communications equipment-maker have struggled over the past year, losing 15 1/2%. joining me reagan capital, chief investment officer, skyler wynan. how important are earnings now? feels like the market puts much heft in it, even the fed, what the federal reserve going to do in september also takes front stage? >> yeah i think it is going to differentiate whether the stock market goes up five to 10% or 10 to 15% over the next 12 months. i think you have that embedded five to 10% just in regular earnings and possible price multiple expansion but if earnings are strong, which might come from, you know, the economy doing fairly well, consumer balance sheets are excellent right now, if earnings are strong, you know, we could see a

run similar to what we've seen in the first half of the year for the second half of the year here. liz: okay, all right. now let's get to the federal reserve because come the september meeting, people are pulling back more than they were yesterday on this belief that the fed would cut by 50 basis points. yesterday it was 55% odds. today it is much less. what do you think is going to happen and do you think the fed, now that we've got another benign inflation report from today own the back of yesterday's ppi or manufacturing inflation report that was also calm, what do you think they do? >> look, the market has nine cuts embedded over the next 12 months, way too many cuts. about four cuts embedded over the next four to five months the rest of the year here. if the fed were to really cut 50 basis points here in september they would actually be signaling their extremely worried about the market and about the economy. that's not what they're going to

do. they will cut 25 basis points like bostick said they were going to a couple days ago. they will cut 25 bps and then wait and see. they will be data dependent for the rest of the year. whether they cut november or december those are totally up in the air. they communicated they will cut 25 basis points. them going any higher than that or going three times in a row, september, november, december, is telling the market that they are worried. that is when i thinks stock falter. liz: i see. >> if the fed is telling the economy they're worried about the economy, then you could see stocks down five plus percent for the rest of the year. liz: wow, that would be an interesting moment. i think you're right, i think they will interpret, the market will interpret anything bigger than a quarter of a percent next month, oh, what do they know that we don't. what are they buying what do you know that our investment audience does not when it comes to picking specific names you think will do well? >> yeah. so you're seeing this large

bifurcation in the market. high-end markets doing excellent, low end market is not, okay? consumer balance sheets are great in aggregate but that is due to stock market growth and home equity growth over the last four years. so i really like ross stores, i really like tj maxx. i like these discounted retail ing firms where look, people will not be shopping pat high-end stores. they're not going to be, you know, ordering seven things a day on amazon. they're going to be looking for deals. ross stores are one of the companies presenting deals weekly or biweekly for people coming in the store. liz: i have to ask, you like generac, it is an interesting company, the big generator maker. but google, you like google. we heard from dan niles who is shorting google. he is awfully concerned about certain metrics within youtube,

all the other issues, but not so of what happens with the doj. why do you like it? >> yeah. i agree that the doj antitrust issues those aren't going to materialize for a long time. liz: yeah. >> you could see five to seven year time frame for that actually to materialize. nvidia is overblown. you have the a.i. hardware, that stocks that have done extremely well. i don't really think the a.i. software firms have, we've seen anywhere close to what we'll see over the next 18 to 24 months, as they expend capital, as they invest in a.i. i think the software firms will overtake the hardware firms. liz: okay. all right. we just want to say that the s&p is now much higher than it was just a few minutes ago. it has doubled its gains. it was up 12. now it is up 24. nasdaq punched into the positive territory with just one minute

left. give me your sense what happens tomorrow when we get walmart numbers which are obviously going to give a big read on the consumer. >> yeah. i mean it's, that consumer segment, that lower end consumer, walmart's even becoming too expensive. they're shopping at alde oar tj maxx stores. that is definitely playing into where we're going the second half of the year. i'm worried for the consumer segment that has into the did not well in the market. not invested in market. [closing bell rings] they don't have 50% home equity. i'm worried about the lower end segment. liz: skylar, we have to run. there is the bell. big show tomorrow, cfo of walmart and ceo of robinhood. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow