tonight on a special cnbc hour, a sizzling summer for your money. the question now, should you brace for a bumpy ride ahead or will it be truly a september to remember amazon taking users to --

>> announcer: on "squawk box" challenges ahead impact from the fed's next meeting. watch "squawk box" any time on demand

new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today.

another day, another chance. whose resumes on indeed make the most of it with the network that can deliver gig speeds to the most businesses. and get the advanced cybersecurity solutions you need with comcast business securityedge. ask how to get comcast business securityedge to help protect all your connected devices. and get started with a great offer on fast and reliable internet and voice for just $64.99 a month. plus, ask how to get a prepaid card up to $500. call or go online today to learn more. comcast business. powering possibilities.

good evening, and welcome or well back to the special 6:00 p.m. edition of "fast money. we mean it this time jim is off this week but safe to say that stock market bulls have probably made some mad money recently. let's call this an upside august did you know the s&p 500 hitting record close after record close for the month up nearly 3% oh, by the way, its seventh straight gain. technology stocks have been where the money is at and the nasdaq up 4% this month and google and some others up 7, 8, 9, even 10% but do not begin lighting cigars with $20 bills just yet there are risks in the market and some experts say you need to stay vigilant. here now to take us better inside the numbers and get real

world advice tobias lovokovich and bob pisani it's been a lot more bark than bite in the dog days of august it's been a solid month by any measure. >> traders are very apprehensive about the relentless bid in the market and think the covid variant should be lower, the fed should be lower but understandable why they're at new highs. the three things they care about most, aligned, earnings at record high and earnings estimates are going up, number one. number two, profit margins, 13% plus for the s&p 500, that's a record high and finally, interest rates, well, they're still low and powell to his credit seems to have convinced most of the market there won't be any taper tantrum might be a lot of apprehension but it's understandable why

stocks are at a new high >> yes, some apprehension, it's interesting tobias, you and your team do great work and put out something looks at and this euphoria index and sort of where we stand right now and, of course, we know that when things get too good, that's when you have to start worrying where do we stand exactly right now with investors, sentiment and that sort of market euphoria >> euphoria you're referring is signaling it for many months and the longest stretch we've seen with those readings and measures positioning. i'll come back to mindset. it's been there for many months. i don't see a bubble 3wursing phenomenon than. there are little bubblets we can talk about investors are aware of taper issues they're worried about earnings and slow going forward and probably will from the torrid

base we've seen. they are concerned even if you look at money flows. they haven't been as good as they are earlier in the year in terms of mutual funds or exchange traded funds but what's kind of interesting is there's -- i call this reluctantly bullish. they are positioned because the market keeps going higher and can't suffer from fomu and therefore they have to be there even though they're aware of these issues so there's a notion of kind of we got to be bullish even if we're concerned. >> you know, bob, in the previous hour, we've made historical references based on market numbers to 1987 and to 1929 and now tobias is saying, well, it's like 1990, 2000 those are maybe not three or four years of market history that we want to necessarily reference. you talk to people every day do you sense any kind of under lying nervousness bubbling up

anywhere supply sense a lot, i don't sense a lot of 1987 sentiment. that kind of apocalyptic thinking is always out there but the numbers don't speak to it. we know what the risks are it's the known unknowns that are out there. we know that the fed could make a misstep in their handling of the messaging, so far it hasn't happened so far powell has done i think masterful job of communicating what they want to do and calling the markets down secondly we could have a new variant somehow appear that truly is a threat in a much greater way than the delta variant and finally we could have some other unknown event that could happen that would cause earnings estimates to stop going up and move to the downside there's a real unknown/known that's potentially out there other than that everything is still aligning i think the traders are apprehensive because what they call this relentless bid in the market baffles them and

intuitively they think because the economy is a little under threat because of the delta variant, markets ought to be lower but the earnings, the profit margins and the interest rates speak to a good reason why the stock market is at new highs. it's not a great mystery but may be stressful. >> maybe not a mystery at all, tobias we talk about the known unknown, covid is a part of it although i don't think there will be any political will for further shutdowns and public will as well that said you look out and your job is to model markets and the economy. how much do you model that in? is it even possible and do you see the possibility of sort of another covid-related economic slowdown >> certainly there could be one if we were to get really an awful variant that could age the vaccines and things like that. like you said already there isn't this political or public will to go through it, in fact, they're seeing protests against

shutdowns not just in the u.s. but france and germany and people are reluctant to go back to that. something horrific developed, we'd all worry about our safety first versus our jobs or the economy. but i think there are four real pressures we have to think about over the next couple of month, headwinds if you like. one congress is going to be back in a few weeks from their recess and they're going to be focused on taxation in terms of being able to fund particularly the reconciliation bill and when are tax rates -- what's the impact of that and that could be something that sets off the apple cart number two is maybe more persistence inflation than the bond market and the equity investors are going to worry about. one thing to talk when planners ask about 5 1/2% inflation in june, what it's 3 1/2% in november that's going to be hotter than maybe the fed wants, number three would be this profit margin issue our profit lead indicator,

margin lead indicator model tell us we're likely to face pressures and possible enough that aren't easily pushed forward. we're hearing some companies with freight costs hurting them in the coming quarter and the fourth item that we're kind of concerned about is tapering and that you hear governor after governor telling us they'll go there. maybe we don't have a tapered tan pull but a tapered tizzy. >> i like that, the tapered tizzy but the fact that it's number four i like because there's so much fed, fed, fed talk out there tobias lovkovich and bob, thank you. from the makes to geopolitics, president biden addressing the nation. the president saying he faced a difficult decision once the taliban took over the country. >> that was the choice, the real choice between leaving or escalating

i was not going to extend this forever war and i was not extending a forever exit >> all right, let's bring in fred, the president and ceo of the atlantic council to talk about the impact of withdrawal in afghanistan and know what happened there and around the world as well and what it might mean for u.s. credibility going forward and the one part of the speech and it was passionate, it was at times fiery, fred he basically said we thought the army would stand up to the taliban and moved on the country fell in 11 days, so if you think the army can withstand the taliban and doesn't even last two weeks, i think that's the miscalculation made by military leaders that needs to be examined a little more in-depth. would you agree? >> well, i think it has to be looked at but you also have to understand that ever since we started negotiating with the

taliban during the trump administration without including the afghan government that talks we undermined the credibility of the afghan government and then as that continues at the beginning of the biden administration in april, it further undermines the morale and this is a society where you want to be on the winning side and it was clear to a lot of the soldiers that, a, that either had to go back home, they had to get out of the country or they had to join the taliban and they did all three of those things. >> well, how much then should fall on afghan president ghani u.s. educated, professor at johns hopkins. he never gave us any heads-up that he was even going to lead the nation not according to any report that i have read. should his administration have gotten in touch with our administration and said, listen, we cannot hold the country, when you leave the taliban will overrun everything and we need a better plan, maybe that call

occurred but we have no indication that it did >> i think we're going to have a lot of backward looking what could we have done differently, what do we need to do now, you know, who was responsible, a lot of finger-pointing but what i'm trying to do is look at the way forward and if there is a silver lining to any of this for the biden administration, it's that it's happened so early in the administration that they can take some corrective action and they can also move the conversation to what you had in the top of your hour which is the economic story, take care of the covid situation, take care of the economic situation, infrastructure deal, economic stimulus, that will take some people's minds off it but in terms of the taliban they probably have to do three or four thing, first of all this was an administration that was supposed to be talking and consulting closely with its allies and from april on that hasn't been the case, our allies really want us to be focused on consulting with them as the biden administration said it was going to do, differentiating itself from the trump

administration and that has to start not just with afghanistan but i would say very deeply on where we're framing china policy which means much more to our allies with adversaries there are three areas of immediate danger i would look at. one is ukraine facing russia, taiwan facing china, iraq facing iran this will be a time where you might have some testing of u.s. competence, of u.s. commitment, you know, is the biden administration going to stand for these thing, it's a bit of a dangerous time from that standpoint i also think you're now going to have to look at counterterrorism again. we saw isis-k operating in the taliban. i think it would be naive to think that afghanistan can't again be a location for terrorism and then the really big question that the biden administration bet on and somewhat successfully during the evacuation can you bet on the taliban? can you partner with the taliban and there we have to use economic leverage through the

imf, through sanctions, through trade, working a lot of partners including the russians and the chinese who will have more leverage than we have in afghanistan. >> and we'll see what china does particularly with some of the lithium and rare earth mineral rich land that is afghanistan as well i know many would like to get their hands on those minerals as well we'll see if china tries to do the same thing they did the congo by building roads. fred, thank you very much. >> thank you so much now to louisiana you're welcome to louisiana and the gulf coast because while the hurricane may be gone, it is still an incredibly scary and dangerous time for a big part of the state. you've got more than a million people still without power and that power loss could last for weeks or more and according to entergy, the power tampa this was one of the strongest wind storms in the history of america and power lines tumbled everywhere in the meantime, other parts of the state are underwater and the

huge search and rescue effort entering day two the louisiana national guard has already rescued a number of people and first responders are still struggling to get to some coastal areas that were hit hardest. one of those is grand isle, completely still cut off let's get more, liz mcflock lynn of nbc news. liz. >> so much flooding, especially in those coastal communities, brian, buthere, wind caused th bulk of the damage it kenner, louisiana and you can see behind me a tree split in half and actually went through this home behind me, power lines are down and you might hear chainsaws in the periphery. homeowners coming to survey what's left and what's lost. brian. >> yeah, it is truly remarkable scenes because on one hand you have the flooding, you actually have a levee over top near where

you are and on the other hand it was one of the strongest windstorms to ever hit the state of louisiana or any part of america. liz, thank you very much scary stuff and best wishes to everybody. all right, long way to go. moving on, a potentially major hit today to vaccine approval efforts. two key vaccine officials including the most tenured regulator at the fda are quitting the agency. all of this as the fda splits with the president on the need for booster shots and millions of parents are waiting and hoping for vaccination approvals for their kids meg tirrell is here. meg, what do we know and what questions remain >> reporter: well, brian, what we know is that two of these senior officials who really led the vaccine's unit within fda have announced their retirements planned for late october and early november, dr. marion gruber and dr. phil kraus in the office of vaccines, research and review now, this was first reported by

a publication and confirmed it with the fda and the former acting chief scientist at the fda putting this into perspective calling them two giants who helped bring us safe and effective vaccines now, some questions in the reporting here today and things i've been hearing around whether they step down in part because they felt frustrated that the fda was getting front run on the booster decision by the white house and to some extent the cdc as well. i posed this question to the white house on its covid briefing today here's what jeff zients told us. >> fda is the gold standard and allgrateful for the tireless work of the senior team and the whole staff at fda, especially during the pandemic, fda has strong leadership in dr. woodcock and dr. peter marks at the centers of evaluation and research

>> reporter: and that leadership coming out with memos today triering to assure fda staff and the public as they're sharing memos publicly they have plans in place to keep these reviews going as quickly as possible and, of course, to maintain the trust and the agency dr. janet woodcock, just out with a memo to staff saying in part we've put together a plan that allows us to continue prioritizing science while meeting time lines that are important to ensuring the end of this devastating pandemic so there is concern that the departure of these two could lead to delays or concern. well, it still has so much on its plate. back to you. >> won there 32 year, certainly unexpected meg, a big story, thank you. let's stick with covid-related news listen to this rather alarming story that broke on cnbc.com today. amazon pushes some to a

deworming drug and some believe may help treat covid claims that the expected and cdc both say are simply not true, nor is it approved for any such use and taken incorrectly or in too large a dose can be dangerous to humans. so why is amazon actually driving traffic based on what you type in? cnbc.com's annie palmer broke the story and joins us with more annie, explain exactly what happen if you type in a certain thing it autofills and almost sends you there. >> yeah, that's right so if you visit amazon.com, you type something in the search bar in this case the letters i-b, their search auto complete technology will automatically suggest certain terms, certain products and we found that when you search the term i-b it would auto complete with the words things like ivermectine pills or

for horse, things like that so this kind of just raised red flags around how this search auto complete functionality common on lots of websites, how there can be certain dark sides to it. >> does amazon a notoriously quiet company one difficult to ahold of, did they have any comment? >> the company told us they're actually going to remove some certain terms from their auto complete function to address the issue and then also after the article was published we found that if you search things like ivermectine for humans that there now is a label that will appear to top of search results instructing folks that the fda does not authorize ivermectine as a treat or prevention for covid-19 and provide links to fda sources and made it clear

this should not have been surfaced the way that it did and they're taking extra steps to help users find accurate information. >> yeah, kind of a shocking story there, one that got a lot of attention after you broke it on cnbc.com and we appreciate you coming on. thank you very much. all right, some down, a lot more to do. coming up it has been years in the making but the case maybe of the decade if not longer in silicon valley is here the united states versus elizabeth holmes jury selection has begun and her planned defense and what she must do to win, that's next.

is. 23 (vo) this is a place for ambition. a forge of progress. a unicorn in training. a corner to build a legacy. a vision for tomorrow. a fresh start.

a blank canvas. a second act. a renewed company culture. a temple for ideas. and a place to make your mark. loopnet. the most popular place to find a space. ♪ payday, payday♪ ♪ ♪ monday, payday♪ ♪ tuesday, payday♪ ♪ wednesday, payday♪ ♪ thursday, payday♪ ♪ friday, payday♪ ♪ saturday, payday♪ ♪ sunday, payday♪ ♪ ♪ payday, payday♪ ♪ ♪payday♪

it's another day. and anything could happen. it could be the day you welcome 1,200 guests and all their devices. or it could be the day there's a cyberthreat. get ready for it all with an advanced network and managed services from comcast business. and get cybersecurity solutions that let you see everything on your network. plus an expert team looking ahead 24/7 to help prevent threats. every day in business is a big day. we'll keep you ready for what's next. comcast business powering possibilities. welcome back the case against theranos

founder elizabeth holmes is finally under way after four years of delay, after the birth of her baby, jury selection has begun. holmes is facing 12 counts of fraud and over the weekend we got our first glimpse as to how she plans to defend herself. she will claim that former boyfriend and business partner sunny balwani was the true problem. and one who allegedly had a pattern, quote, of abuse and coercive control how many more bombshells should we expect once the trial really gets going let's bring in danny cevallos before we get to the trial let's talk about jury trial, one of the most well-known business people in california if not america was on the cover of numerous magazines how hard might it be to find an impartial jury >> well, you don't need to find a jury that knows nothing about her. you need a jury that even if they do know about elizabeth holmes given what they know can

they render a fair just and impartial verdict or approach the trial with an open mind? that's really the standard and it's especially germane to this particular jury selection because this district, san jose, this area has a lot like elizabeth holmes over 45% of this jury poll makes a household income of more than $100,000 this is a very unique highly educated lots of people in the s.t.e.m. area, science, technology and is kind of like elizabeth holmes >> yeah, i think that's very well said. so they'll get a jury and some people can say to your point they know who she is and may recognize her but they will still be sat and picked for this jury i know nobody ever likes to speculate on television but will put you on the spot. based on what you know about the case how long could this possibly go?

do we have any ideahow many witnesses the prosecution or the defense plans to call? >> as a defense attorney i can tell you the federal government is very good at overkill you can expect hundreds of witnesses, at least on the witness list, ultimately then they pari it down at trial but make sure they make their case the feds don't like to lose and statistically they don't lose, unfortunately, of the 2% of defendants that decide to go to trial, the vast majority of them are convicted and most federal cases are what we defense attorneys jadedly call a prolonged guilty plea anyway >> yeah, hundreds of cases, i mean what would they be looking for quickly, danny what would be what this turns on that she knew she was committing fraud because that's what they need to find out if she believed it worked that will be a lot harder of a case.

>> you hit right on it, the government is going to try to prove that or at least the defense is going to try to establish that as the boss, she wasn't necessarily knowledgeable about every little thing that went on in her company and so if she got reports from people who misled her or there's any evidence that she didn't know what was going on, then she couldn't have defrauded anyone because she didn't have the necessary mental element that's going to be difficult if the government trots out witnesses, emails, documents and all kinds of evidence that tends to show that she knew of the deception. >> well, sunny balwani, now, if you've red the books,if you listen to the podcast and know the case you understand who sunny balwani was, a longtime boyfriend, business partner and dare i say without any judgment came across in many reports as let's call it a strong personality but that's a long way fromwhat she is alleging

is going after sunny balwani who is far less known in your mind as a defense attorney the right strategy >> sometimes when you're in federal court you're grasping for straws and these are always tough cases to win so you got to get creative this is a creative strategy. blame the co-defendant actually blaming the co-defendant is a time worn very traditional strategy but in elizabeth's case it's a very unique fact situation because she was at least to the public the boss. but sunny balwani, you're absolutely right by all reports and read the books was a strong personality. i think about 20 years her senior and in a romantic relationship and i should add was previously successful but is that enough, the fact she may have looked up to sunny or be in list thrall? is it enough if she knew what was going on and knew right from wrong. >> danny, former defense attorney as well or a defense

attorney, good stuff, thank you very much. set to kick off after four year, thank you. all right, still to come, do you remember the days of going to college, you know, roughing it, ramen noodles and sleeping on friends' couches? yeah, neither do your kids coming up the high-end world of how your 19-year-old is now living at college, plus, stock did something that may not, many of you may have not thought they were aloud to do some actually went down today but have no fear, the market is still at all-time highs. coming up we are lifting up the hood finds off the radar stocks that you may want to take a closer look at special 6:00 p.m. hour of "fast ghafr isnsks off and retur rit teth short break

with directv stream, i can get live tv and on demand... together. watch: serena williams... wonder woman. serena... wonder woman... serena... wonder woman... ♪ ♪ ace. advantage! you cannot be serious! ♪ ♪ get your tv together with the best of live and on demand. introducing directv stream with no annual contract.

welcome back to this special edition of "fast money." futures in the united states are opening up higher again. it is extremely early. we know that but dow futures, they're up 37 and nasdaq up 11 points the s&p fell just a touch but have no fear ended the month of august up nearly 3% and if you are counting at home, and even if you're not we'll tell you that is the s&p 500's seventh straight month of gains. wow, something by the way, it is not done since 1987. lots of household names surging to begin the year, nvidia probably power your kid's gaming computer and alphabet up 65%

goldman sachs, yeah, the bank up 57% as well. but there are lots of other big winners out there that we will call hiding in plain sight names that are out there but we don't talk about all that much because we simply don't have the time for one capital one, you know their credit card commercials, what's in your wallet. you hope the stock has been because it's been soaring. maybe not as well known as goldman or jpmorgan but capital one is up close to 70% this year another name sort of off the beaten stock path but is outperformed is olin corporation. they make chemicals and ammunition oln, the stock more than doubled this year and one more for you, as millions of kids across america head back to college, check out shares of this if you pay a private student loan you probably pay it to

navient. this company an off the charts winner, navi up 136% this year more to come on the college education front and some of the challenges facing this year's rising high school seniors in a few minutes on this program. but now let's stay on the markets and get more on this record run and the ways to spot winners that are off the beaten stock path jo joann, we love having you on you always find these names we don't talk about a lot when we talk about breaking down a rendering of animal fats and biofuel, there's only one name that comes to mind because there's only one public company that does it, darling ingredients and it's been a darling. >> we've own i had it for a long time for our clients and we originally got involved because it did turn animal carcasses into stuff like pet food and with rising per capital incomes

around the world particularly in asia we saw the demand for eating beef was going to go up so we've been holding on to that for awhile the real turn came when they got into biofuels and using their used cooking oil, their experience in handling leftover stuff and now turning that into feedstock for biofuels that has enabled it to take off a lot weren't paying attention one of those good under the radar names. >> yeah, we interviewed the ceo at the first in-person conference back in june post-covid, very bullish there let's talk about brkr, i know they do medical diagnostics. that's about as much as i know what exactly do they do and what do you like so much about the stock? >> it's a good example of where you can find diamonds in the rough, less well-known names and a case of a company which provides highly advanced analytical tools for medical

research, pharmaceutical research, for nano material analysis, you know, we at advisors capital, i happen to spend time working in nano technology between being an economist and got to understand the value of these advanced tools that could look at the nano scale and in pharmaceutical development of drugs you need to look at the surfaces of proteins and be able to understand the structure of cells and bruker provides some and sell it to academic labs and national labs as well as the pharmaceutical industry so added this one late last year after all of that and their orders dried up and the stock sunk so an opportunity to get in keep in a company we expected to rebound and have good growth ahead as they push up the demand for medical research across the board. >> okay, your final pick is probably the most misnamed company in the world or at least one of them which is c limited

s-e-a limited. do they charter oil tankers? they're basically a digital xhrs and video game company based in asia talk to us about se. >> yeah, brian, here's a company where you have to really understand the dynamics of network effects. right, they had online gaming is one of the most downloaded online games in the world out of their gaming division and that created for them this massive user base. and they leveraged that user base by adding on an e-commerce capability and a digital payments capable and so having that installed base that was going to grow because of the popularity of the their games gave them a ready audience to which to sell basically online shopping and storefronts and that sort of thing and they're in southeast asia so a partof the world where people are focused on china instead of recognizing that there's other countries there where incomes are also

going up and where there's huge enthusiasm for online gaming and e-commerce and the move to digital payments so that's, yeah, that's the third. >> darling darling, sea and bruker, good thing, joanne. thank you very much. so let us stay with stocks because joanne obviously loves those through names but as you smart folks know on wall street sometimes even overnight you can go from being super hot to super not. kate rooney is here with a few stocks that went from hip to hammered in literally a couple of days. kate >> hey, brian, yeah, that's right, a group of stocks that had really been a favorite among younger investors, all essentially falling off a cliff this week for a variety of reason, robinhood zoom and wheels up.

all different businesses but all down double digits for the week. wheels up. let's start with robinhood recovering a little but down more than 10% for the week that slide started yesterday after we reported that paypal is planning to launch stock trading. after comments by s.e.c. chairman gary gensler. gensler stated a full ban of payment for order flow was, quote, on the table. that would get rid of a key revenue source for robinhood on to zoom, that was one of the biggest winners during the pandemic especially as younger investors bet on some of those stay at home stocks but has had a rocky six months as people go back to work and investors are focusing on that customer growth slowdown reported in the second quarter after the bell yesterday. finally wheels up, the private yet company merging with -- to go public. that's been way down by fears that institutional investors may

look to liquidate some of those share, brian, back to you. >> all right kate rooney there. really hot really not in the blink of an eye so makes the market, kate, thank you. all right. up next, what may be the most bizarre sports story in years. espn apparently got duped into airing a football game involving what may be a really bad team from a fake high school. the real story you good to hear next

- i didn't realize you have to have a prescription drug plan with medicare. i didn't know to shop around. i just picked one. every time i went to my pharmacy, copay was different. and i'd ask them, "why is it different? you know, you didn't charge me this much last time." no one could ever answer me. but now with goodrx you can look on your phone and it'll tell you exactly how much it's going to be. and when i get to the pharmacy they charge me exactly what it says on that app. and it's so much cheaper than that prescription drug plan. it's all about saving money with me. i like watching my dollars. ♪♪ we've all felt this gap. the distance between what is, and what could be. while he's tapping into his passion, the u.s. bank mobile app can help you tap your way to your savings goals. without missing a beat. so, you can feed his passion. ear plugs not included. ♪♪ u.s. bank. we'll get there together.

that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. if i could, i'd ten-x everything. like a coffee run... don't just sell it. ten-x it. ...aflac policyholders have been paid $37 billion directly... [aflac!] that's a lotta money. ♪ did somebody say money? he said aflac. well if they're paying out billions of dollars to help cover unexpected medical expenses, what's the difference? coach prime. what... no smoke machine? [aflac!] looks like aflac is ready for prime time. [eh eh eh! eh eh eh!] hey, coach to coach... what do i need to do to get one of those jackets? ♪ get help with expenses health insurance doesn't cover at aflac.com

i want to start off by telling you this is a very bizarre story about which many questions remain we will do our best to explain okay on sunday espn aired a high school football game on tv between powerhouse img academy and an ohio school, the one in the black uniforms called bishobishop sycamore charter school. img, number one in the country, won 58-0 and was such a blow-out that even the tv analysts covering the game were worried about the health of the bishop sycamore players and as people started to dig in over why it was on tv they found out something more interesting bishop sycamore may not actually exist, at least as a high school anyway let's bring in our cnbc.com business reporter jabari young the story is taking on a life of its own, it's incredibly bizarre of the you've been looking into this today

what have you learned? >> well, good evening. it is one of the more bizarre stories. one of the more bizarre i've heard this year and what i've learned is that, listen, this is an opportunity that went wrong you know, you're bisho sycamore, a low level program and not necessarily legit and trying to get legit and looking at what the athletic director was commenting throughout news outlets. his point was basically, hey, we're a small up and coming school trying to get it together you see espn and img on the schedule and of course want to take advantage because this is a national game, right but at the same time they weren't ready and, listen, paragon, the marketing agency that scheduled this i think have to do a better job at vetting where is img academy, academy owned by an $11 billion market cap company and endeavor where do they stand in this? i have seen no comment no comment from them i didn't get one back and where

do they stand in this, you had to have known who your opponent is and if you knew they weren't up to the level don't you want to look into that yourself >> i don't know but, jabari, jabari, do we know, okay, you say the other team, is there actually a team? bishop sycamore's address is actually a rented gym in columbus, ohio the school calls itself an online only charter school the phone number according to a report i read was to the library phone of a local college >> yeah. >> is this -- some people claim that the high school and i'm using air quotes, players, on bishop sycamore were junior college dropouts who may or may not have been paid do we know if this is even a real school? >> absolutely and that's the thing. we're trying to get to the bottom of it i haven't gotten to thebottom

of it. they're not a legit school they say they're up and coming my thing is if you're a football opponent aren't you supposed to know this isn't a real opponent? i got to do my research and i have to do it too. img has played them in the past and i just look at this as, again, an opportunity going on espn saw an opportunity to air img academy which has elite level prospects, bishop saw an opportunity to be on national tv who knows, maybe you're the coach and maybe we can upset them if you thought that then maybe something is wrong with you and you got img academy on the end who are looking at this. why would you want to play it on national tv and put your kids and endanger those other kids, your opponent? >> you're the sports business reporter money. by the way, the -- >> i do have to ask -- >> they're going to play a couple of days --

i just found out in my voice in my ear, sandy, that the coach got fired. so there's enough of a program where somebody could fire the coach. jabari, you will learn more and take a road trip to columbus and figure it out. jabari, thank you very much. >> cool, brian. >> what a bizarre story. it's crazy. up next, so long animal house and hello penthouse. lots of college kids are living the high life off campus we'll talk more about it and show you some of these digs that will probably make you jealous and how you can also profit from it while sitting on your couch while is covid-19 still going to impact the rising seniors in the class of '22 the top application expert who runs an app when we roll on right after will be asked.

well, college living sure ain't what it used to be lots of freshman dorms are still cinder block walls and a loft here or there but for sophomores and up the off campus digs can be upper class and wall street has found a way to get everyone involved in the college housing game let's take a look at some of this and talk about some of the potential winners. diana olick joining us tonight >> reporter: yeah, no question students want to be here campus even if classes do end up going

online again and as many universities require vaccinations now these apartment buildings are filling up and some of them are amenity heavy like this one from the scion group at the university of maryland, high-end kitchen, swimming pool, game room, even peloton bikes in the private gym. no wonder demand is high so high that the supply of student housing is low and construction is now climbing again. in july, student housing prelease rates hit 86.7% across the core, 175 universities covered by real page, that's higher than last year but also higher than july of 2019's prepandemic reading. from june to july of this year preleasing jumped nearly 10%, the largest monthly jump recorded this late in the season in several years so it'svery likely august leasing will cross 90%. as for rent, growing too also its highest rate in july up 2.1% annually led by properties more than one mile from campus and

that growth is higher thanlast year as well as 2019 rates now, there is just one publicly traded student housing reads american housing community and its stock up 47% year over year and surpassed its prepandemic high and survey from township, a private equity firm found roughly 70% of students remained in off campus housing even after they transferred to online learning this spring so definitely want to be on campus, brian. >> amazing digs. diana olick, great story. of course, in order to get to live in some of those swanky new off campus college apartments diana showed us you got to get into college and it's harder to get a yes from big or small schools so what's in store for rising high school senior, let's bring in jenny riyard of the common app anybody with a high school

junior or xenos about your company. jenny, welcome what can your data points and numbers tell us about the demand for college politics right now. >> right now i can tell you that the demand is continuing to be there. we have three data points we look at and 8%, we have an 8% increase of students who creates accounts and 0% increase in unique applicant, individual students, submitting applications and 30% increase in politics overall which mean students are applying to more colleges than they have in the past >> yeah, and do we know what kinds of schools are big state schools in vogue we got a couple colleges where the tuition can go over $0,000 including room and board right now, jenny 80,000s. what kind are they applying to. >> what we found is it's the schools with the large brand names which includes large public flagship institutions in

addition to some of the more well-known and highly selected private institutions so that seems to be where students are looking. largely that's because they haven't been able to do a regular college search like people have done in the past >> how much of a gap, a lag -- i use should the word gap. they did not want to go, freshmen because they didn't want togo through the covid lockdown experience. how much of a logjam, if any, do we have, jenny, from that one year period? >> i think that actually had a bigger impact last year and it was at just some -- very few of the most highly considered institutions that had gap years. i don't thinks that's been the case this year seniors won't have to contend with that like they did last year at the very few highly selected institutions that that impacted

>> yeah, the university of chicago coming in the most expensive school in america according to cbs at 81,000 bucks, jenny rickard start saving now, folks. thank you for joining on this special 6:00 p.m. edition of "fast money. we fast money we appreciate it see you tomorrow the news with shepard smith starts right now the president addresses the nation, and people on opposite ends of the country battle mother nature's fury. i'm shepard smith. this is the news on cnbc will in crisis. >> currently the parish is without power and we're without area some areas facing a month or more without power. i was not going to extend this forever war.