out whether or not their students are cheating when they turn in term papers. however, i do think this could lead to a really fun show on the food network, how chatgpt is helping the competitors compete against each other with recipes, so maybe it's a new business opportunity. [laughter] ashley: i think you could be right. we're going to have to leave it right there, we're almost out of time. beverly and very much appreciated. markets limping into the long holiday weekend. the s&p and the dow up slightly. that's it for making a money. charles will be back tuesday. kelly o'grady is in for liz claman today. kelly:as markets are limping away you are running into the holiday weekend. the bulls are making a last-minute charge at history.

the dow is flying back and forth. we are down 7 points as we kick off the final hour of trade. it will mean a second record close. we will be laser focused on that. the s&p is up 25 points, the nasdaq, the doubt s&p on pays for fourth straight month of gains, the nasdaq also higher. it is up 1/10 of 1%. want to see a win on some stocks that are powering today's gains, intel and marvell technology, considering spinning off or selling its manufacturing business. until has struggled to gain outside clients in the foundry business. they are in talks with investment bankers with several

options to improve its core business, present those at a board meeting in september close to 8%. marvell rallying over 9% after better-than-expected sales. in the second quarter due to strong demand. meanwhile, fed's favorite inflation gauge cooler than expected for july reinforcing rate cut hopes and coming up, former ceo james bullard will weigh in on that report and what he expects for the jobs report. let's get to the floor show. thomas simons and jordan kimball, thanks for joining me on set today. let's talk about the pce market that lowered a chance of a 50 basis point rate cut down to 35% so what was your read on

that and where are things going when we come to the september debate? >> i thought it will be lower than it was. we were looking for 1/10 increases, little details everybody is trading on. number of times i was asked about forecasts up to two or three decimal points, those who don't understand how unreliable this forecasting is don't understand. opens the door for them to ease. i'm not in a 50 basis point cut camp so to speak and it breaks down to what we see in the jobs numbers this coming friday. the bar is high in terms of significant weakness in the economy, doesn't seem evidence of that. kelly: months ago everyone was

going crazy, emergency rate cut. need to do something now but seems likely will get the rate cut in september. who stands to benefit from this rate cut, we are seeing trades come in, small caps. a lot of viewers sitting in money markets thinking if we are going to get a rate cut aware should all be putting -- is it attractive to you? >> they have better value but can't say small because i more granular. so my motto looks for revenue growth, margin acceleration, there's benefit for homebuilders, could be interest rate cut and the bigger part, people felt great at 5%. so much money was pushed out and forced out. i am a stock ticker.

i don't really by indexes or tfs. it is all a matter of revenue growth, margin acceleration and institutional accumulation. what institutions are nibbling at i get behind me and we run it. kelly: you need to look at the financial health of the company. we are seeing this rate of inflation come down. that was emphasized in what we saw today. prices are coming back today. it is not coming down. i regretted it immediately but all to say wage growth, real wage growth isn't keeping up with that or rising quickly enough to make prices feel more

manual. i read your note and consumer confidence is soaring. how do we understand how people are feeling it but i feel good about the future? >> a couple things feed into consumer confidence rebound. one of them is the switching of the top of the democratic ticket. confidence in the university of michigan survey in july took a big hit and broken up between republicans and democrats, expectations for the future collapsed. now it is back but to your point, the rate of inflation, increase in prices slowed dramatically but price levels are significantly higher than they were. a lot of consumers are hopeful that prices of certain things will go back down to some level consistent to where it was before the pandemic about similar to what's going on in the consumer side is going on in the corporate side which is

businesses adapted to higher interest rate environment and higher inflation environment and life goes on. on the margin, not the most positive dynamic, the strongest motivator of growth. kelly: if i am thinking about rationalizing my portfolio, it's that cleaning. how do i pick out the ones that need to go away, what do you look for in a healthy company? >> looking at higher bottoms and higher tops and volume coming in on the upside and you really like low-volume drawdowns because it is not real selling, just dribbling down and it is very important that the trend is correct.

great companies go sideways so what magnet does is bring together fundamentals and technicals. we only want to buy companies that are going up, a horse guy, will rogers said we only buy stocks that go up. i get off. kelly: we have seen a lot of valuation under control. have a great holiday weekend and we will leave it here. we need to get to breaking news, wall street journal reporting goldman sachs will layoff 1300 workers, 3% to 4% of workforces, part of the annual review process that cuts low performers. something we are going to be following but donald trump expected to speak at a rally in johnstown pennsylvania. it comes as new poll numbers show vice president kamala

harris with a slight lead. he gave her first interview last night. could that move the political needle and swing new voters into her column? we go to the white house for a full report. of "the claman countdown" is coming right back. after careful review of medical guidance and research on pain relief, my recommendation is simple: every home should have salonpas. powerful yet non-addictive. targeted and long-lasting. i recommend salonpas. it's good medicine. ♪ hisamitsu ♪

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county last month. this as a new wall street journal poll shows kamala harris in a one point advantage over trump. 48% to 47%. harris has no campaign event and is coming off the first major sitdown interview since becoming democratic nominee. for more of the substance of the interview, grady trimble, break this down for us. what do you say? >> on the economy in that interview vice president harris stopped short of calling bidenomics a success, she listed a host of economic policies under the biden/harris administration. >> i maintain when we do the work of bringing down prescription medication, in the first year of office to extend the child tax credit, when we do what we have done to invest

in the american people and bringing manufacturing, that's good work. there's more to do. that's good work. >> she did not call it biden next. harris gave a vague answer about lowering costs. at one point she said she's proud of bringing down inflation to less then 3% despite the fact it was at 1.4%, and try to expand her policy position changes like past support of a fracking ban and the green new deal saying her values have not changed, the trump campaign is seizing that language saying senator vance says harris is pretending to be moderate but governed as, quote, a far left person, says she should be doing more right now. >> she's the sitting vice president of the united states. if she changed her mind why doesn't she enact these policies now and make americans better off.

it is not what she's doing. >> donald trump is expected to speak next hour in pennsylvania, this will be his first campaign event since that interview so we eagerly await his reaction. kelly: you can always share how he is feeling with that, i'm interested in what he is saying. let's get to this, ali baba is back in china's good looks, shares of the e-commerce company gaining after china's administration of market regulations. ali baba has completed what is called a three year rectification process over alleged antitrust issues. ali baba was fined $2.8 billion over monopolistic behavior, ordered to regulate self-examination to regulators over a multi-year period.

jd.com up on that report. here's a name you might not be familiar with but it is up 17%. mongo db rallying after the company raised its profit and revenue forecasts. used primarily by software developers, possibly another beneficiary, and tech continues to see tailwinds, retailers beginning to show correct. all the beauty dipping by 4% after the company did the opposite. they cut annual sales and profit forecasts and reportable 12% drop in earnings in the second quarter. investors can't seem to make up their mind about lululemon's latest report. the stock is between gains and losses, close to 4% right now

after the leisure apparel maker missed on sales and guidance. lululemon's ceo blamed lack of newness for soft women's apparel and jeffrey's analyst said lululemon's brand and financial performance have peaked. going back and forth. with mortgage rates slowly coming down, will fall break the housing market logjam? our dynamic duo real estate agents are here to tell us what they see. later, we go inside the fed with james bullard, on the table in september. we are keeping eyes on the dow basically flat right now. back and forth between the red and green. don't go away.

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lower than the 0.4% increase analysts were expecting. canada average fed kickstart to bring prices down. joining us in a fox business exclusive, the managing director of dolly lenz real estate. thank you for being here. help me with the pending home sales declined. such a this setting a record but not in a good way. does it tend to be a bad month? folks are skittish. >> july and august are the best months. >> really surprising. they asked everyone, everyone is slightly positive and this was negative. i think it is a lot of things. elections bring uncertainty,

what's going to happen next year, why am i buying my biggest asset in an uncertain time. i take that as the number one problem. high expenses all around. high ho a fees, come charges, gas prices, oil prices, higher than it can be. what happens? less money to buy a home. >> the bright spot, up 10.6% and homebuilding stocks doing so well, the average ratings pretty much biased still, that is what people can buy. no surprise on the existing side. everyone is locked in their homes at not leaving. if mortgage are 68%, so many people with under 6% mortgage rate and so on. those people won't move. doesn't make sense.

they are not staying on the market. kelly: that makes sense. if you are sitting at 78%, less than 5%. you won't say 38% i will go out and do that. what do you think that rate, going to get out, need a bigger house at this point. >> it has to almost match what you have now. 4.5, maybe pale little more but other than that i don't see people moving, so many dynamics, real estate taxes at an all-time high. all the other expenses are all all-time high. not just the mortgage but carrying of the house. on the other side is the rentals. rentals are at all-time highs.

kelly: people don't want to dip their to in because they are nervous. rents are high. what are their options? those are the only options. >> as someone who recently moved to new york, the prices are increasing dramatically but i want your take on the market because i saw in your note you are seeing, almost a buyer's market, inventory just sitting there. i was looking at the case-schiller index. annually we saw an increase of 6.5%. one of the worst increases. what you are seeing anecdotally. >> a lot of people are fleeing the new york. they don't want to own new york, they want to rent in new york so they won't be taxed

here. there's a lot going on in florida and texas and tennessee. wherever they go where taxes are low. that's one of the biggest problems we have. foreigners are at an all-time low for purchases. we always relied -- kelly: 50% is international. kelly: vp harris suggested a $25,000 support for those looking to purchase their first home and help with the down payment. what does that do to the price of a market. >> you have the supply and demand curve we know from economics which goes straight up and down. we can't build enough homes. when demand goes higher,

basically they shift to the right and all that will do is increase prices further. i don't see how it is that helpful. kelly: more money chasing the same number of houses. >> it's terrible for people on the bottom because they can't afford, 25,000 will help them. they stay renters and they propose the rental stock be decreased because not to let blackstone or black rock to buy homes to rent and therefore if there is less rental stock demand is up. less rental stock. prices go up. all around the lowest level will suffer. that is why it's not a good idea. it's like the student loan program. >> they helped people who decided to go to college giving

them handouts and to be mechanics. a similar kind of dynamic. kelly: appreciate you giving the perspective of someone on the ground. interesting, good to hear both sides of it. appreciate your time today. i know they will closely watch what the feds says about interest rates next month but what jerome powell and company says about the job market maybe just as important. james bullard is here to tell us how he sees it playing out at as the nation faces a school worker shortage we are looking at education in america and a special program designed to expose young girls to the trades, tools and trrs next on "the claman countdown".

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kelly: markets are at or near record highs with one week to the jobs report. earlier this month, the july jobs report sent markets into a brief panic sparing calls for an emergency rate cut. looks like what you see on the chart, should markets have been so quick to forget and the underlying economy warranted. joining the is the current dean of the producible business, james bullard. your insight is timely. >> today. kelly: the strong reaction to the jobs report, i want to start their. in jackson hole, he does not welcome any more pooling in the labor market so what is your perspective on where the labor market stands? what do you expect from the

report next week? >> the report next week will be in line with current expectations, 150, 200,000 jobs created and that takes down a little bit. what i'm expecting, that to me would be consistent with ongoing strength, not as strong as it was a couple years ago. it has slowed down but pretty good numbers by macroeconomic standards. i don't think it will be big news. kelly: the moment at the beginning of august. did you say we waited too long?

>> there was a lot of volatility but the jobs report was over interpreted. it was a week number that went up a little bit, but the committee has been predicting unemployment would go to the mid-4% range. you can't get upset when it happens. most people would say the national rate of unemployment is in the mid-4s so this is normalization of the labor market. i think that part was to be expected. wall street took it that the unemployment rate will shoot up. if you look at the data since then. unemployment claims are low and other factors indicate a pretty good labor market overall.

kelly: let's broaden out from the job market. one point we will get next week. we got pce cooler than expected, gdp better-than-expected. give us of a window into how the fed will way these do economic data points next month when thinking about cutting. how do you account for these pieces of data if you were with the st. louis fed? >> this is all good news for the committee. they do you laid the rate cuts during the first part of 2,024. they were worried inflation would go back up again so they stayed hawkish but all these numbers are suggesting that was the right call. inflation continues to moderate.

real economy continues to perform very well. i am expecting 25 basis point cut at the september meeting. kelly: i was going to ask your prediction for september but looking at the cme launch tool, markets are pricing 75 to one hundred by the end of the year. you could see, december etc. 50 basis rate point. where do you think we will be at the end of the year? >> the market overpricing a little bit, probably three, 25 basis point cuts by the end of the year. the committee will want to go at a moderate pace and monitor the data they go through. wall street seems to think they will get significant data that would show downturn.

50 basis point talk is overblown. kelly: we are getting all these pieces of data, the market gets jumpy when we see something a little hotter or cooler than expected but i love that you brought us back to earth and watching what the fed does next month and certainly what the jobs report looks like next friday. appreciate your time. while the fed worries about the labor market, there's a critical need for skilled laborers like carpenters, painters, electricians, manufacturing institute says there's going to be a projected 1.2 million unfilled jobs due to baby-boom are retirements. the blue collar trade jobs are less important than white-collar jobs. fox business has been focusing

on education in america and lydia found one organization in queens, new york exposing children to the most important vocational skills called tools and trrs. there's growing demand for trade professionals in the country and we met up with one nonprofit trying to prepare young girls for that opportunity. most kids pack sunscreen at a water bottle for summer camp. >> parker james and kamala johnson bay bring up paint brush and hardhat, with tools and trrs which teaches trade skills to girls. >> if you have a job, that is something you love to do. >> reporter: girls as young as 6 get lessons in carpentry, electrical, plumbing, and confidence for life. >> every day i wake up and i could go into electrical too.

>> make sure it is on both sides, lift the brush again and move it towards you. >> how is that? >> perfect. not so bad. >> i've been killing it as a plumber for almost 30 years. >> it's the brainchild of an immigrant from trinidad who became a plumber when college was out of reach for her in america. cassidy is using her success to show the next generation a career in trades could empower them too. >> i want people to stop looking down on us thinking we didn't go to college because we wasn't smart, we choose to have both. that is what we do. every day. >> reporter: we do a deep dive into careers and trades and so many other issues facing education in america on a special report air and tonight

at 8:00 pm right here on fox business. hope you will watch. back to you. kelly: i share an office wall with lydia and she's hard at work. i'm excited to watch that at 8:00 tonight. as the dantes of august expire, the closing bell september might be a good time to do some surgery on your portfolio. it could keep you on healthy track. the dow has turned positive. we are up 85 points. any gain is a record. more countdown straight ahead. ♪

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kelly: shares of paramount global are down, more details of what went on behind the scenes of the roller coaster merger journey. it is close to one% now to one% now. charlie gasparino joins us with the latest. breakdown what was happening behind the scenes. charles: some really good

lawyering. whoever it is deserves a big payday. i think i know who it is and i won't say his name yet. kelly: teasing us. charles: the reality, the deal looked like the sky dance deal looked like it was on ropes. what he was bringing to the table was almost the same thing in terms of sherry redstone selling a controlling stake in paramount through national amusements. over $1 billion and other bells and whistles attached to it that was allegedly good for common shareholders don't make a lot of money on sky dance blue sky dance would disagree with that but work with me here. it looks like the board wanted the deal, 19 people with him, looks like initially, something

interesting happened. overnight they went with sky dance. i tried to find out the trigger point. the trigger point last week, the deal is in limbo, sky dance is on the ropes by paramount. to see doj approval on the deal, usually you get the approval later or have a real agreement in principle and move forward with regulatory checks. as soon share a redstone agreed to, somewhat principled, they had the go shop period as well but moving towards sky dance. they went to the justice department and lobbied them and told them what the deal was about, who is in it for the

money. greg berg has money and other funds. there are other funds that it controls but not the one that used for this, us money, pretty clean deal, just this last week approved the it. when the board started reevaluating the problem in 19 different people, the fact that they said okay, we've got a bird in our hand here which has regulatory approval. they need to get the fcc approval which is a fader calmly once you have doj approval, that might take a year or two or a year. it was a no-brainer. whoever was on the worried side, this story is triple

riveted sources, people have confirmed it, people at sky dance have confirmed it. whoever it was, the smart lawyer who got this thing done. give him a metal. forever. kelly: at the end of the shop period it pays, always great to have you on and thank you for getting inside baseball, one of the most interesting roller coasters to follow up. have a great weekend. charles: i will call my lawyer right now. the closing bell rings in seven minutes. the dow is racing to the finish, wants a nice record for

the month, the dow and s&p looking at their fourth straight month of gains. as we say goodbye to surprising august gains. we say hello to what is usually the worst month of the year on wall street. since 1928 the s&p has averaged an annual loss of 1.1%. today's countdown closer has some stocks, do some surgery on your portfolio ahead of the september squeeze. richard bugbee is portfolio manager of the large cap growth fund, 18 billion in assets under management. great to have you on the program. i was teasing one of your stock picks with all my surgical and health puns there so you like intuitive surgical. why? >> good to see you. thanks for having us on. it is a leader in the robotic

surgical category. a company that makes surgical systems and cells in the hospitals, leadership position, research and develop and, innovation, expanding from what is usually soft tissue abdominal surgery to general surgery and that can be very powerful. in the midst of a product cycle the da vinci five system, procedure growth is mid teens this year and think it can be double digits for the foreseeable future, the younger doctors are being trained on these intuitive da vinci systems, there's a consistency of outcomes with them and we think penetration and placement of these systems sits well for years to come. kelly: intuitive surgical is close to 46%. certainly a good pick based on historical trends trained on

these systems, good way for people to cut costs. american tower is a wireless infrastructure provider that hit revenue targets regardless of something you look for. >> figure like a whole lot. three tower companies, the most global in nature. will they benefit from the $30 billion aggregate spend. they also have international portfolios. and 3 g24 g and what we like, pricing escalators and inflation and critical for the service provider's network

footprint. a company that doesn't need the economy to be successful and we like a lot. kelly: i like the framing that i look at a stock that doesn't matter with the rate cut or the economy. you think of small-cap talking about that a lot today, you are going to put your money there if you get a rate cut. spotify, monster earnings last month, consumer discretionary entertainment space, why do you like it? >> spotify is the clear winner, 30% market share globally, 600 million users adding 6 million premium subscribers each year. they started to pool their pricing lever to close the gap

between audio and video streaming and it led to record gross margins, and free cash flow with 40% growth, not the only price increase on a go forward basis. kelly: interesting deals. and the business sense, it is a consumer entertainment bucket, if you feel you are struggling. where do you feel we are, a soft landing hard landing. those folks are struggling. that is where, what is your take.

>> >> it is playing itself out. i mentioned spotify. and on the podcast side exciting things happening there. a number of other companies we own, whether tied to consumer or direct beneficiary, they have a direct benefit mortgage refinancing. with economic activity to buy a new home. we see weakness in the consumer discretionary.

kelly: if you aren't buying a home or you can't, and saw larry stocks where you can play, make some improvements on bathrooms and such you might put your money as folks make those trade offs. have a great holiday weekend. all right. you get a jump on the news, the dow closing at its second straight record, the 26th of the year, the s&p 500 and the nasdaq closing out the day and month higher, dow gaining 245 points, the s&p and nasdaq finishing at second highs. that will do it for "the claman countdown". larry: hello, everyone. happy friday and welcome to a special edition of kudlow, i'm david asman in for larry kudlow. vp kamala harris wanted to make one thing perfectly clear last night on cnn. "my values have no