seats are going for thousands. hotel rates are surging the cost to book a room during finals week is 16% higher than average. we will follow all of this on "mornings with maria" 6 - 9:00 a.m. eastern weekdays on fox business. i hope you will join me here with "mornings with maria" i'll see you on the fox news channel on sunday at 10:00 a.m. eastern for "sunday morning futures" i have exclusive interviews with co-chair lara trump, senator ron johnson, government accountability institute peter schweizer in florida congressman byron donalds. i'll see you on fox news on sunday morning. thank you for joining us have a great rest of your weekend. have a goo "barron's roundtable" sponsored by global like cts. ♪.

jack: welcome to "barron's roundtable" where we get behind the headlines and prepare you for the week ahead i am jack cowin for jack otter. coming up the country grappling with the record national debt heading into november's election with no plans to fix it. world bank group president david malpass on which candidate is best suited to tackle the problem. who's really not retail which shopping stocks are by following major earnings report from the industry, on the barron's rentable it is a murderers row my colleagues andrew bary, meghan lenhart and teresa rivas i'm not accusing any of your factual murder. let me start with you stock investors it seems a high they like what they heard out of jackson hole, tell me about that. >> investors got what they wanted to hear on friday from the fed chair jay powell, the time has come from policy to

adjust after heralding a drop in short-term interest rates this year from the bible quarter five at half the question only how much. >> is interesting, the real message from jackson hole this year is mission accomplished by inflation and now we have to look at the job market very closely powell does not want to see deterioration and it will be interesting to see what the august jobs report holds that could determine if we get it ready for basis for 50 basis points. >> it may not matter whether we get a quarter or half inch percentage point at the next fed meeting, the market is discounting that short rates could be coming close to 4% by the end of year three to half% by the middle of next year. >> the potential mortgage refinance others are doing this right now. at the end of the week we saw strength in oil and gold, what does that mean. >> mortgage rate under six and a half they could approach six and a month or so in oil and gold and other commodities were

strong. lower interest rates tend to benefit the economy and economies gold up $25 on friday and $2500 an ounce in gold is up to dollars per barrel at $75 a barrel. also strengthen homebuilders and banks and a shout out to warren buffett who is a berkshire hathaway and hit a record on friday, buffett turns 94 on august 30 which is coming up in the stock market cap is approaching a trillion dollars and a great birthday present and it's only 2% away from that. >> i'm guessing he's blushing. >> e number is going to be nvidia earnings report on wednesday and nvidia is about whether tech stop in investors the earnings are supposed to be around 67 cents per share -- tears number of people

interested in the resident expert on nvidia with bullish on a.i. and he likes what's going on with the stock. jack: we haven't heard a lot of details about the candidates economics plans, we have heard something about what kamala harris would like to do on housing. what's on the table what are the chances of a happening. >> i would like to say there's a ton of detail on the table. even with housing she's been more specific, we haven't quite narrowed it down all that much. the big issue that housing is unaffordable, everyone can agree on that. she is propose giving twitty $5000 to first-time homeowners to make that a little bit easier hill to diane. that could raise issues with supply and proposals to hopefully mitigate that as well. and all this has to get past congress, that is a very big battle ahead.

jack: i keep hearing the phrase strategic ambiguity in connection with the candidates not wanting to get to be details to voters. that sounds like you're going to job interview and plead the fifth. and sam not taking questions right now. this is a tactic that's going to be effective. >> it's not hurting your campaign. she's in the introductory honeymoon . . . it would be nice to see more details maybe we will get some of the upcoming debates on september 10. she also agreed to do media interviews by the end of the month and a nice surprise for details and understand the economic plans of either candidates that are going into the oval office. >> let's shift to peloton it was up more than 30% in a day this past week what's going on. >> is the best day ever. before you get too excited it's happening at a low base, the stock was a pandemic favorite traded over 150 analysis and $5. what happened this weekend expected loss from the company but it wasn't great news, there

was still an outlook for the full year end the turnaround plan hasn't really born free. >> i said i would. >> you have to wonder about the man that i saw a photo on the brooklyn street of the public on bike and the issues being left on the curb, i'm not sure how much they really want. >> the shoes in the bike so you can use a strangers bike seat, don't answer that. next up we have 35 trillion reasons why the candidate should be talking about the national debt, world bank president david malpass breaks down the economic plans of what it could all (bell ringing) someone needs to customize and save hundreds with liberty mutual! (inaudible sounds) (elevator doors opening) wait, there's an elevator?

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jack: the u.s. national debt topping 35 dragon dollars for the first time in history. there is no talk of paying it down or holding a study from either vice president kamala harris her former president donald trump with voters heading to the ballot box in just a few months. is it too late to fix the problem, let's take it up with world bank president david now pass. i went back into look at the transcript from the convention back in 1992 bill clinton, george w. bush, there was loads of fiscal mudslinging they were accusing each other about the debt and the deficit in the spending and this and that and the debt back then was $4 trillion now were 35 trillion why are we talking about it so much less that the situation is so much worse. >> we should be talking about it more but back in those days it was taboo to run a fiscal deficit we lost that and things have changed a lot over these

years, one of the things the federal reserve is much more intervention within the economy and you can hear the situation of bond yields go up they come in and buy bonds. that changes the dynamic so they don't want to talk about a restraining they just one angle. jack: the debt interest is close to defense spending in it can double over the next decade. that would make the interest a second medicare. it seems like the easy opportunity for budget cuts are gone. what you do if you want to make things better where you start, how do you do it? >> a near-term problem that they have been issuing short-term debt, that means as interest rates stay high the debt rolls over and the interest costs go up rapidly. that is the experience that you are mentioning there.

it crosses over the defense spending and does some of the social spending. these are giant challenges for growth within the economy. as the government takes so much of the money then it becomes more and more the dominant player within the economy, it's a loss of freedom not an increase in freedom for that. you saw the job number revision that occurred this week. what it showed was a downward revision to the private sector not as strong of the private sector as people thought but not on the government side it's just as strong as people have been saying huge growth in government under these conditions, nobody with the plan to change that. i think my worry it means slower growth into the future and that's was baked into the c.b.o.

forecasts people think it is would be a slow growth economy into the future. jack: you are on the political right can i assume you think donald trump will be better for the fiscal health going forward and wife. >> one critical thing, what do you think the size of government should be. one of the candidates is looking for solutions in every area including market pricing. the other candidate is looking for ways that the private sector be a bigger factor within the economy. i think that is the difference in the devil is in the details how do you implement a way to bring more of the economy into the private sector or less of the into government that's hard because no one really wants to see spending cut in any area in congress is situated to keep it growing. >> what should we do with the

trump tax cuts, key parts of those expired next year and ubs is were on track for $50 trillion on debt in a decade and they say if we extend the trump tax cut you cannot another 5 trillion on top of that. on one hand we can afford them and on the other hand if they go away do we take a hit to the economy maybe we can afford to not extend them, how do you handle that. >> you have to think about what you want to do trump is saying we have to keep the rates from going up. here is is proposing huge tax increases on the idea that the way to redistribute wealth and the differential between the two candidates is huge on the think you have to factor that into your expected growth of the economy. if you tax more you get less and that's very true for small businesses they are really laboring under the tax rates are in place and workers don't even see it in their paycheck the money never comes to them the

business this is the tax wedge with the business faces a lot more cost because after turning over to the government this is one of the things is blocking employment growth that we need in the future young workers are disadvantaged by the system and if you raise the tax rates it's really going to hurt the new workers in the economies of most. jack: thank you david malpass. a wild swing for retail stocks this past week winners, losers and where investors can find bargains. that i

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>> he reported nine straight quarter of falling same-store sales, i got that right. it obviously had some issues. it's a department store libido depression for a while. one of the things is not cheap and not expensive and is having a middling moment. i will say there is a turnaround plan and place but it's really only a pilot program in a big open question on how quickly they'll be able to roll that o out. >> it's been tougher department stores including calls in nordstrom they combined market cap at macy's, calls in nordstrom around $10 billion,

compare that to the off-price physician strongest area retail which is tjx the pair of t.j. maxx and marshall's over $135 billion. >> when they can't sell the stuff at department stores tjx buys on the cheaper marks it up and sells it. >> exactly. i miss the tjx i know people stop there for the treasure aspect and by designers of cheap. it seems the ratio of stop is a little too high. i don't get the stories. >> defend tjx. >> i will defend t.j. maxx, this is marshall's, home goods. between all of the stories is probably outfitted about 90% of my apartment. i'll take the value where he could get it. >> don't be too upset. target stock was whether the big winners this past week, what happened. >> targets been having trouble since the middle of 2022 that's with the stimulus checks ran out and inflation was running

rampant. it was really exciting to see an earnings in the same-store sales which is a fancy way of saying stores open more than a year turn positive for the first time since 2022. apparel sales were positive for the first time since 2021. that shows people are finally coming back and making more discretionary purchases which is targets main business. >> sui in the stock chart. >> target is up about 10% or so recently and that's how much it up this year walmart by contrast is up over 40% and target is looking cheaper right now around 15 times this year's earnings, half the valuation of walmart, could be a good speculation. jack: when target was struggling, walmart was gaining market share. now that target is doing well again does it feel that walmart will get back market share. >> that's a possibility but i don't think walmart has to worry, we saw during the pandemic that there was room for both of them to do really well

and i think there is obvious overlap between the two big-box stores that walmart has a diverse business and so many other lines of business it's not an apples to apples comparison. i don't like is a zero-sum game. >> tell us which retailers are hottest right now. >> you can take what i'm about to say with a grain of salt. as you can see from my shoes i'm wearing floral doc martens. >> floral doc martin is like a floral combat. >> i know that's not everyone's cup of tea which is evident without doc marking can perform. but i think one of the hottest areas of retells her ugly shoes. if you saw deckers which makes out. >> who wants to be named this is a backhanded compliment. >> they are laughing all the way to the bank, deckers which makes ugly and hope to. >> the sneakers on the big giant marshmallow platforms i see a lot of big dudes wearing them.

>> i love them and i wear them. >> if the not wearing those there probably wearing on which makes on cloud and boot barn which makes a wide variety of cowboy boots that go from classic to extremely trendy. they all had great quarters. >> i'm asking for a friend, what is extremely trendy in the boudoir boot. >> i know that if you are wearing a floral embroidered rhinestone cowboy boot, it is a whole lot of luck. >> costco stock is doing well, what do you think about when. >> costco is a cold stocking trades around 50 times earnings and investors love the story, they recent membership rates by $5 to $65 a year in the treasure hunt aspect, the basics, the savings it is true bargains and true value as opposed to what i think is a lesser value over tjx. >> hot dog in a soda dollars and

have. >> they refuse to lift that they've had it for 30 plus years and it probably won't change. >> stock evaluation looks okay. >> companies that may have earnings growth 10 - 15% annually. >> i would probably stick with the hot dog and coke. thank you will from rowboat's lobo, electric vehicle ambitions runnin starting a business is never easy, but starting it eight months pregnant, that's a different story. with the chase ink card, we got up and running in no time. earn unlimited 1.5% cash back on every purchase with the chase ink business unlimited card from chase for business. your best defense against erosion and cavities is strong enamel. nothing beats it. i recommend pronamel active shield because it actively shields the enamel to defend against erosion and cavities. i think that this product is a gamechanger for my patients. try pronamel mouthwash.

progressive makes it easy to save with a quick commercial auto quote online. so you can get back to your monster to-do list. -really? -get a quote at progresivecommercial.com. seanjack: electric vehicle grows slowing. they say the forecast might be too high, why is that it is a graveyard for most automakers, electric vehicle margin and the bad news keeps piling up for the

past week and it decided to scrap a full size electric suv, ford and gm have put off the opening of plans that make full size electric pickups, that is because demand is not there, it rose about 50% for ev's in the united states last year. this goes five or 10% the best in the ev market share is basically under 10%, it is stuck there. jack: can i assume you feel like we should triple the tax credit or have i got that wrong. >> divided administration's health and on forcing a transition to ev's with a whole host of tax credits and rebates and fancy charging stations, it's not working well. it used to be donald trump offered a contrast for that and he was skeptical of ev's. now that is cozied up to elon musk it's not clear how he stands on ev's anymore. >> you think investors should go anywhere near this. >> the stocks are trading very cheaply, and investors are

worried about the transition and whether they can make much money on ev's and tesla is not ev story but an economist driving story in a tech story. that is shifting to. sean: give us something that investors should be doing. >> with the rate cuts on the table for september, this actually gives investors a hard choice. we've all taken advantage of the wonderful 5% rates on a high-yield savings. i know i have. this time over the next year we may see them down two percentage points. now is the time to think about locking in the long term cd rates and ladders and even treasuries. jack: teresa how about a stock pick. >> if you think insurance is exciting. >> and i do. wait until you hear about insurance for insurers. >> this is getting good. go ahead. >> obviously not something that we think about on a daily business but this is an industry that is not going anywhere. the stock has gone to cheap to ignore. jack: this is where insurers lay off risk on someone else.

you follow insurance, you could get a pretty good business. it's attractive. >> pricing is pretty good and evaluation of stock is pretty reasonable. we'll see if there's any major catastrophes in the current quarter and if you don't get many to be good for the stock. jack: let's all calm down. andrew, meghan, teresa, great ideas. to read more check out this week's edition of barron's.com, don't forget to follow us on x at barron's online and facebook, and instagram for the latest barron's updates. that is all for us, see you next week on "barron's roundtable". larry: hello, folks, welcome to code low. i'm larry kudlow. no policy, no growth, and no viewers.