thursday farmer jim, over to you. >> citigroup, ten years at 137 looks like it wants to go higher i expect it to catch up. >> pete, last but not least. >> looking at altria group this is a stock that hasn't been talked about a lot i'm seeing call buying right now. >> that does it for "the halftime report. "the exchange" with kelly evans begins right now thank you very much, frank and welcome to "the exchange," everybody. i'm kelly evans, and here's what's ahead a wobbly month for markets as the dow and s&p slide today. morgan stanley is taking u.s. equities to underweight. they'll join us to explain why just ahead the president's tax plan includes more than 80 tax hikes and changes to fund the budget, but there are three that raise the most money and have the biggest impact on corporate america. and the nfl season does begin this week and a number of betting names could benefit.

we've got all the stocks to watch. we start with the markets today. nasdaq outperforming, dom, but bitcoin getting all the headlines in the past hour or so >> the trade for the nasdaq right now is interesting because it's only up about a quarter of 1% and normally i wouldn't make too much hay of this but i get to put the golden star because it hit a record interday high earlier day. holding above the 15,000 mark. the dow down about one-half of 1% 4527 the last trade in the s&p if you take a look at bitcoin that kelly was just referring to, we had a sharp drop. you can see here at one point it was getting down toward the 42,000 mark here we've bounced back off session lows however, this all comes amidst this idea that el salvador is going to start taking bitcoin and using it as legal tender they bought about $21 million of it to facilitate that transaction.

watch bitcoin prices apple and netflix, both of these stocks get golden stars because both of these hit record highs in trading so far today. netflix being driven by analyst price target upgrade over atlantic equities to $780 a share. they think the subscriber growth will be better than previously estimated. apple formally announced that september 14th, big apple event, where it's widely expected we'll get new iphone models introduced, possibly air pod models and apple watch models as well both those stocks at record highs. apple, however, on a year-to-date basis, slightly overperforming the rest of the market here in terms of the technology side and netflix up about 13%. we'll see if that sticks for that streaming trade back over to you >> i am on an apple watch hiatus, dom. >> i never had one a hiatus is interesting. >> it was too essential. i needed a break

i'll probably get the next model. let me turn to my next guest, downgrading equities to underweight due to uncertainty about growth andrew sheets joins me now andrew, welcome. it's good to see you what is the concern you see policiwise >> well, it's nice to be here with you i think the concern is i think markets are stuck a little bit between a rocket and a hard place. our base case growth will improve as we go into the rest of the year. that should push the move higher i think you do have some real risks to the outlook on that growth side. we do think august data will be very weak when that data is reported in september in the u.s. and so i think that could also worry the market so, i think you have a market that is near the highs, has not derated like a lot of other equity markets year-to-date, and is stuck a little bit between the rate picture and growth picture. >> what do you mean it hasn't derated like others? >> we've seen valuations, a lot

of other global equity markets come down quite a bit year-to-date we think that's normal that's often what you see after a recession. you see markets run up quite strongly and what happens is the earnings recover and the valuations come down and those factors off set themselves from the s&p 500 the valuations haven't come down like they usually do when you get past that initial growth surge. so, that concerns us, the fact you haven't had that usual adjustment yet, makes us worry it might still be to come. >> so, you're seeing this as a lose/lose if i'm reading this correctly. if yield is fine, that could cause a correction if growth slows, that could cause a different correction why wouldn't you look at this as a win/win, where you growth slows, fed responds, we see the delay the taper. and if the fed picks up -- how is this a lose lsh sluz instead of a win/win for equity? >> it's the right question to ask. i think it has been weak

this has been an incredible performing market year-to-date over the last year, over the last ten years this is not something we take lightly. i think these are real issues to consider but i think what's different is i think on the cyclical side, you know, this quite binary nature of the future of fiscal policy, that either our policy strategists think either you're going to get a large r reconciliation with the structure bill or nothing. so, that is quite binary in a way that i think is unique and then on the federal reserve side, the fact that you've already seen some major improvement on unemployment, the fact that inflation is already coming back, all those factors make us think the bar is very, very high for the fed to delay a taper, let alone do more quantitative easing. i think those factors are different enough that make us think that it's no longer that win/win situation. >> and i know we've been talking big picture, but i want to rattle off a couple trades that are your recommendations these are kind of sophisticated but for those who want to play

this way i want to make a mention of it. this is the cross assess team. you're going long brazil equities versus msdi emerging markets. i don't even know the second part but i understand s&p put spread collars, swap those for s&p 500 put spreads as implied volatility levels fall you're closing gas oil versus brent and adding three month putts on gold? is there anything you want to correct there? >> you got it quite right. we think this is a difficult backdrop for gold because higher yields in the stronger u.s. dollar are not great for gold. if you went back to the last taper in 2013, 2014, gold did very poorly. we think brazil is an attractive market it's an equity market. we're overweight that is a market where valuations have adjusted a lot year-to-date, valuations are down almost 50% in p/e so, i think that's a space where there is better value and

uncertainty is in the price. >> we'll leave it there. thank you so much for your time today and a lot of different ideas for people andrew sheets with morgan stanley. while some see risks rising in the u.s. others continue to be economic slowdown will be transitory and the expansion will continue. this is the argument debate we were just having my next guest has names he think will work in any environment michael, it's good to have you let's piggyback off of what we were just describing there's plenty of risks to the upside and down side here. what are some of the names you think can do well regardless >> good afternoon, kelly one area that we think long term -- and again, we think long term so, short term anomalies,short term trades, et cetera, some of the things andrew mentioned in the last segment is short term based on valuation and immediate situations that may come up. we like natural resources and energy long term we think there is a growth story happening. we think there's a lot of ground to still make up with respect to

resumption of growth the sky is not going to fall and we believe that because of lack of investment, lack of global growth, a really strong dollar over the last several years, et cetera, that we're probably at the beginning stages of another commodity upswing cycle. so, areas in energy, commodity metals, et cetera. they had a big run earlier in the year, but we think they're not done long term they have pricing power. they have some inflation protection and they generally pay good and increasing dividends and special dividends when times are good. so, we think that long term it's not a bad place to be right now. >> and i'll rattle these off they are consistent with what you've been describing, free port, chevron, gold is in there as well. i was writing about this this morning, this idea that we're creating to some extent an artificial supply shortage because of our environmental goals. so, there's a lot of pressure to move away from natural gas and other things prices are spiking there oil prices are up on the year. here's my question though. if we're making a policy choice

to move away from fossil fuels, can the stocks continue to benefit? look at chevron, facing pressure from engine number one we had all the stocks benefit as a result are they going to benefit the same way this time around if they're facing possibly an existential sidelining >> you make a great point for these stocks to run. you're restricting supply. you're basically -- so, unless you believe that we don't need these materials anymore going forward to run our world, then there's going to be a price problem there and a supply/demand problem, which drives the prices. in the long term we are generally moving toward greener technologies, et cetera. these companies are at the forefront of some of those moves as well. so, they may participate with respect to where that goes in the future right now we are nowhere near energy self-sufficient based on green technologies we aren't. it's a myth. as a result, we need these companies.

>> look at the uk who had to bring an old coal plant over the weekend because it was a warm weekend and they're facing supply issues. let me ask, rio and some of the other places you're looking at are more copper, iron ore and that kind of thing where are we in terms of the supply imbalance, if at all, in some of those metals >> we think long term that it's quite a big imbalance because of global growth and because of the resumption of economies. there was news coming out of china lately that they're going to support their economy more. i know copper sold off and maybe iron ore did recently on china growth concerns. this stuff is day-to-day news. long term we had an underinvestment in the cycle we had underperformance. we had anemic global growth over several years. a lot of those things will reverse in a growth trade or resumption of growth trade and you're going to have a need for a lot of this stuff going forward. these cycles are generally

multi-year in nature and you mentioned one earlier that lasted almost a decade. i'm not predicting that here, but i could easily see a cycle that could last several years based on the underinvestment and the market dynamics that we had during the 20-teens. again, we would recommend versifications among a bunch of different investments, but on the equity side, when you look at investments, these stocks have not kept up there's an argument for them as a long-term investor to stay here and ride them >> quick final question because you have gold here i just have to ask the obvious it's only down 5% year-to-date it's no disaster, but you see all the attention shifting to bitcoin. is that going to supplant what would have been generational demand for gold as diversified asset? is that all going to go to bitcoin in the future? is that a risk >> it's been marketed that way by the bitcoin industry, but i think there are very big differences between gold and

bitcoin. gold has been around for centuries. it's got a store of value. you can insure it. you can store it you know where it is those aren't always true with bitcoin. you can't steal gold it's in conext depositories. that doesn't necessarily mean it correlates to gold, the it's the same thing as gold or it's going to behave pricewise with respect to gold. and it's been talked about as a diversifier, as a hedge against stocks and bonds bitcoin's run has corresponded with a huge run in equity. i would hardly say that's a lack of correlation and bitcoin , from its high, has been down over 50% this year and you mentioned gold gold is down 5% after a pretty great run for the last year and a half they're not the same thing that's not a negative on bitcoin. we think the digital transactions and currencies are going to increase. but the valuation metric, it's

greater fool theory stuff right now. there's no metrics on valuation. so, as long as investors understand that, it's a great asset class if you love volatility but as a hedge against other things, i don't think we have enough history to make that judgment >> all right fair enough. michael, thanks for your time for explaining your positions on all of these >> thanks, kelly >> michael with the permanent portfolio. speaking of markets, we're only three weeks away from delivering alpha, bringing together the best names in the investment community you don't want to miss these discussions on the critical issues facing investors. register today at deliveringalpha.com. coming up boosted jobless benefits are over for millions of americans, but could that be a boom to the fast-growing freelance economy? we'll ask the ceo of upwork about who's hiring where, what they're offering and why work from home may be here to stay. president biden's tax plan includes more than 80 changes but wall street is keeping an

eye on a tax threat. tell you what the details are ahead on "the exchange." >> announcer: this is "the exchange" on cnbc. thanks for coming. now when it comes to a financial plan this broker is your man. let's open your binders to page 188... uh carl, are there different planning options in here? options? plans we can build on our own, or with help from a financial consultant? like schwab does. uhhh... could we adjust our plan... ...yeah, like if we buy a new house? mmmm... and our son just started working. oh! do you offer a complimentary retirement plan for him? as in free? just like schwab. schwab! look forward to planning with schwab.

welcome back, full-time freelance. many businesses went remote

according to a global survey as many as 10 million americans are considering becoming freelancers to give themselves more flexibility as companies begin to bring more workers back and the competition intensifies, where does this leave the freelance community. joining us is hayden brown hayden, it's good to see you again. it's sometimes a real pain to be a freelancer, from tax implications to the stress of having to constantly line up work is it possible people who dabbled in this are going, you know what? the job is just easier >> i think we're seeing the opposite platforms like upwork are making it easier for freelancers. what we're hearing from freelancers is they feel more secure going through economic downturns as freelancers because they have a bench of clients that they're working with and they're not exposed to just a single employer and what might

happen with that employer. i think the ground has shifted as freelancers are finding they feel more secure it's getting to be easier and easier to be a freelancer. and it's a preference for them to do the work this way where they have autonomy and control >> most people are making more than they were before they left their jobs to their own great surprise most thought i'm starting a different kind of work and it's going to be lower paid and instead they're too busy they are making way more than they would have thought and have too many opportunities i guess that raises different kind of management issues. your stock is up about 40% this year you're still building on the 2020 gains where is this all going? is the transformation of the labor force just behind us or just beginning >> we are just in the early days of the transition. this is a 20 plus million dollar market we are opening up it's early innings and i think the real

transformation that's ahead of us is companies figuring out that now they know how to work remote bli because they figured that out during the pandemic this taps into new workers like freelance workers who are in different locations and bringing new skills to the table. this is critical because so many ceos have been struggling with talent and access and talent gaps as key blockers for them tapping into new types of workers and bringing those workers into their core strategies for growth. >> another observation i think you could help explain to me i don't know exactly what all the different kinds of work on upwork are, but one thing i hear more and more about is all of these people using virtual assistants from places like the philippines. i don't know if this is a fiber thing, you go explain your email to them and they -- every time i turn around now, someone is telling me about their virtual assistant from southeast asia. is this considered -- this is

kind of the offshoring of white collar jobs that i guess the internet and freelance work is getting. this feels like a different phenomena from what you're talking about. >> i think this is just one aspect of the many different types of work that can be done by freelancers through a platform like upwork and others. what you're seeing is people realizing when they can work remotely with people, they can work with somebody through a computer who can do amazing work and maybe even offer benefits because it's a 24/7 schedule where they might send a request and someone is working on that request overnight and bringing that work ready in the morning so, this is where we're going to see transformation of many types of work. >> and finally as we sort of look at the economy, the momentum for the whole labor market this fall we just got the big jobs report. it was a disappointment but people weren't sure if the

supply for workers weren't as willing. what can you tell me from what upwork is experiencing what is going on with the labor market >> i think it's stronger than ever and we are seeing demand from clients continues to be there. freelancers are eager to do the work but in the macro sense, i think so many businesses haven't realized that freelancers can serve them in many different ways and there's this misperception that freelancers should only be on the margins of their business and do add minute support jobs so, i think where we're hoping to see those changes and working to try those changes are for businesses to realize that there's so much more that businesses can do. businesses are struggle to hire. they have so many open jobs that are taking six months or more to fill where there is a freelancer sitting on our platform ready to do that project today. there's a supply/demand mismatch because people are often looking for those workers in the wrong places they're looking at the traditional fte job boards and

staffing services. they need to go where the workers are. >> we're seeing even more, even the wal"the wall street journal peace on this, the hires are not looking where the candidates are. hayden, thanks so much for your time good to see you again. hayden brown is the decree of upwork before we head to break here's a look at the gig economy names and how they're performing this year lyft is outpacing uber, despite uber investing heavily in its business lyft is hanging on to the green by about 1%. door dash have nearly doubled since public debut in december, but spending is going up, jumping 150% in the second quarter. meanwhile shares of just eat take away are down nearly 9% in a year the deal to acquire grubhub was approved in june remember etty has seen huge gains as online shopping and freelancing grow more popular.

etsy is down, but fiber is a bigger laggard others are down between 20% and 35% from their respective highs. coming up this stock is up 15% in the past week and jumping 7% today on news it'll join the s&p 500 we'll tell you what it is and what it's replacing next still ahead, it's more than 500 miles from the pentagon to ground zero in new york, but one group of people is making that walk to honor and support first responders and their families. we'll speak with the ceo about the journey and foundation aadhe of the 20th anniversary of 9/11. we're back in a moment

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welcome back to "the exchange." here's a quick check on markets. the dow was up as many as four points today the lows were a little bit split between that, dow 179, s&p, 8, nasdaq up 31 bitcoin has been a big decliner over the past couple hours the internet etf, she said, ticker fdn is hitting a new all time high helped by netflix, expedia and others now the crane share is up 4%, boosted by gains in didi, alibaba and buy due. didi is up about 5% right now. all of these names are down about 50% from their mystery highs. mystery group, match group, shares up about 6% today after s&p, dow jones indices says this stock will add to the s&p 500 on september 20th shares are up 50% since spinning off july 2020 but only up about

4% this year now for a cnbc news update hi, kelly. good afternoon, everyone here's what's happening at this hour greg abbott signing into law the state's sweeping election overhaul, after months of protests from democrats. texas joins 17 new states that have enacted new voting restrictions since the 2020 election in new jersey, president biden getting briefing of flood damage in the wake of hurricane ida. later this afternoon he'll see the damage first hand first in new jersey and then in new york city on "the news," cleaning up for the damage and getting ready for the next storm after a third of americans were hit by some sort of weather disaster in the last three months. and in cincinnati, research has begun on a new kind of covid vaccine that will not require a needle this vaccine will be delivered with a nasal spray cincinnati children's hospital is one of the locations doing clinical trials for the vaccine. the study is set to last a year. kelly, i'm all about anything

being administered other than by needle >> i know. >> we'll see how the study goes. >> anything to solve covid rahel, thank you very much up next, americans are ready for some football and sports betting as more states legalize it we'll dig into the numbers and trading two days ahead of nfl kickoff. cnbc is going back to business as americans are back from summer vacation and kids are heading back to school, where are the opportunities for investors? a very edition of faston mey we'll take a look. we're back in a moment ines for , you'll get great value on america's most reliable 5g network. like 2 lines of unlimited for just $27.50 a line. that's our everyday price. plus, our plans always come with unlimited talk, text and data included. so, switch to t-mobile and get 2 lines of unlimited for only $27.50 a line. that's half the price of verizon or at&t. only at t-mobile. the leader in 5g.

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. welcome back to "the exchange." football kicks off this thursday, and a new survey shows an increasing number of americans are ready to wager as sports betting becomes legalized in more states contessa brewer has more at what's at stake for the gaming companies. >> well, kelly, the nfl season kicks off thursday the number of sports betters is expected to soar a survey by the american gaming association shows 36% more people will wager on a game this compared to last year. that's 45.2 million sports betters. 23 states and washington, d.c.

are states that have launched sports betting that's an increase of five states since last year nine more states have legalized it but not launched it we are expecting south dakota, washington state and arizona to go live any day now. in fact the arizona cardinals have their own gaming license, partnering with bet mgm. this is an about-face for nfl going from a fear fight a few years back now to partnerships with caesars and draftkings and the data providers and the aga says 19.5 million people will place a bet online those are legal and illegal wagers those offshore illegal sites are still a massive obstacle for operators. and this is a crowded space. it's like a gold rush every time another state legalizes sports gambling amid all this excitement over college and pro football, the commercial casinos are fresh off

a second quarter that smashed all-time records for gaming revenue. $13.6 billion. >> wow >> it's -- well, i guess if you're speaking of the gold rush >> right there it is. contessa, thank you. contessa brewer with the facts and figures. jeffries is out with a new sports betting themed survey ahead of the nfl season. a clue into who has the upper hand, david katz is here he is a jeffries managing director best position stocks, you think draft kings, caesars, mgm. >> the way we thought about it, stepping back for a moment, kelly, is in order to succeed in this value shchain, you need market access, brand, and content. a survey we published thunderstorming highlights our thesis that the technology piece is so critically important it highlights consumers'

responses in terms of ease of use, being able to get into the app, deposit money, find the bets they want and withdraw their funds over time. and what we discovered is that 52% of all respondents chose ease of use as a top criteria in choosing an app. and that was up 10 percentage points from the last time we did this survey back in march ahead of march madness >> i want to mention a couple things that will distinguish this nfl season. it will be the first one where we have a bunch of states, tennessee, virginia, arizona, connecticut, maryland and you say potentially new york and florida. why only potentially new york and florida? >> well, those are in some stage of process of legalization and new york has said they would like to legalize and figuring out what the rules, the boundaries, who the bidders are -- there have been some bids selected for that market but no wins selected no terms

florida is in an active negotiation with the seminole tribe in florida on the hard rock who would like to have exclusivity. the legislature is getting involved as to whether there should be a statewide referendum to that end. all of those could be worked out quickly, as we've seen with political processes. they can take forever or they can end in an afternoon. so, we're watching both of those two with interest because they are among the four largest states in the u.s. in terms of betting. from the very beginning we need those states to achieve the big numbers we've put out. >> let me ask a question as we talk about a lot of the platforms that are well-positioned and terrelle tif attractiveness all of them are platforms i would think of to put it differently, my question is who's not going to benefit? which of these stocks do you think face more head winds or might have reasons why they're not necessarily going to participate in a sports is back, betting is higher than ever kind of trade >> look, i think one of the more interesting or actively debated

stocks that we talk about with investors is penn national gain. they made a masterful acquisition of bar stool sports a year and a half ago. they have clear access to a penn they have audience through bar stool that's extraordinary but so far they have not shown the technology and the content in order to gain the market share numbers they've put out as a targets. they're in the process of making an acquisition of a publicly traded sgr, score media. and the degree to which that will bring the technology they need to really be successful and how soon that will occur is one of the more actively debated subjects with us and investors all the time, kelly. >> it's very well put and a reminder just because there's a big audience doesn't mean you can immediately monetize that. i'm also curious how would you describe engagement with the nfl post-pandemic, post a lot of the

different societal changes we've been through the last couple of years? is it as big as ever i know we're dealing with linear to streaming tv transition there's a lot of things going on here has that made the nfl sort of as important as ever? are there going to be more eyeballs than ever or are we heading into a recession where the sport never recovers >> what we've seen is we've seen 40% of all wagering happens on nfl football what we know is that everyone, all operators, have been gearing up and advertising and marketing toward this football season. since the last time we did this survey, we had 6 percentage points of more people willing to wager and wager on football than what we had seen just six months ago. i do think that this is setting up in a very bullish way, and

frankly we've been telling investors, i want to own the whole group. but you did point out our favorites are draftkings and fanduel who have the market shares to back it up and the integrated operators, mgm and caesars who have a loyalty program, casino audience, and the market access and now the technology to capture it that we expect to see in the next several months >> i'll say even i am glad to welcome back football, something that feels like normal i'm just watching the ucla saying whatever's on, i'm rooting -- i'm picking a team and i'm rooting. i'm not betting yet but maybe i'll get there thanks for joining us today. david katz of jeffries a quick programming note, the 2021 nfl season kicks off the defending tampa bay bucs hosting the dallas cowboys on thursday on nbc. and sunday night football to wrap up the weekend action you can catch both match ups on

nbc and on streaming on peacock. what do high end chefs like david chang and jacob samuelson have in common with walmart and kroger that's coming up and the three that will have the most impact. we'll discuss that next. you can always watch the show any time anywhere by listening to and following "the exchange" podcast. we're back in a moment growing up in a little red house, on the edge of a forest in norway,

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the house is expected to vote on the infrastructure bill before the end of the month, and president biden's tax plan contains more than 80 tax hikes and changes. robert frank is here now with a look at the biggest three and how congress is looking -- or working -- to limit those hikes. robert >> hey, kelly. well, there are a lot of proposals right now floating around washington. but for investors and companies, there are just three that matter

when it comes to cost and the dollar impact. the biggest is the corporate tax hike, biden proposing to increase that rate from 21% to 28%. it would raise over a trillion dollars in revenue just over the next decade. it's likely to be scaled back to, let's say, 25% but that rate would only raise $400 billion or 40% less than the biden rate then we have taxing overseas profits at a higher rate that raises about $500 billion the tax foundation saying the biden plan could lead to off offshoring, not less, so the revenue would also be a lot less for investors and high earners, by far the biggest tax threat is capital gains. biden proposing to raise the gains rate from 23.8 to 43.4% and he wants to eliminate the step up in basis to tax appreciated assets at death. combined those two changes would raise an estimated $322 billion.

right now though, moderate democrats in farm states already pushing back against step-up now, some in congress proposing new taxes on ceo pay, corporate buybacks, a special billions' tax, kelly all of this would come to a head for washington and for markets in the next two to three weeks >> you know, i often see these conflated but they seem like one is a much bigger deal than the other. the increase in the capital gains tax. we've been there before. we've seen rates that high in the past totally different issue than the issue with the step-up basis is this the same thing we were talking about the other day where you would tax the amount of somebody's business net worth at death even if they didn't sell it. that just feels like such a bigger step in deviation from what we've been doing than increasing the rate on capital gains. >> it is and it was one of biden's first proposals that he mentioned even during his campaign. and many thought, look, this is a benefit that largely helps the

wealthy, so it shouldn't be a problem. but what we discovered in the debate and the research about this is that the farm states and many small businesses with family-owned companies that pass from generation to generation are opposing this and could be affected so, you're right, that piece is separate for many cases, it is bigger and more important and the reason in people oppose it is it would be the first time that weactually tax an unrealized gain, meaning you don't sell the asset but you have to pay the tax just upon inheritance even if the family doesn't sell it. >> right >> so, you're absolutely right those two will be split in half. so, maybe in the end we get an increase in the capital gains tax but not a change in the step-up. >> we'll see they're looking to raise a lot of revenue robert, thank you for now. your continued reporting on this still ahead the 20th anniversary of the september 11th attacks is just a few days away we're going to speak to the work

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family, a new york city firefighter who lost his life on september 11th, 2001 after strapping on his gear and running to the world trade center the foundation aims to honor first responders through programs that build homes and support family members frank siller, the tunnel to towers ceo is currently undertaking a 537 mile walk from washington, d.c., stopping at shanksville, pennsylvania, where united 93 went down and ending at ground zero to raise awareness for the foundation it's good to have you, frank how's the walk going >> it's going great, kelly thank you so much for asking i'm in newark, new jersey today. i just finished my walk for the day. and i'm heading to jersey city tomorrow morning and onward

to -- i'm going to go over the bridge into staten island. and staten island, i'll be walking through the neighborhoods where my brother grew up as a little boy. that's where my family is from and of course i'm going to stop at different fire houses that lost so many great american heroes 20 years ago. and i'll be ending on september 11th right at ground zero. i'll be walking through the same tunnel that my brother ran through with his gear on, i'll be walking through with my sneakers and my family when he came out on the other side, he saw the twin towers on fire, burning, and people losing their lives and firefighters running in giving their lives to save people. and that's what my brother did 20 years ago and i want to honor that great sacrifice he made and the sacrifice that so many brave heroes made that day >> we're showing his photos now. it does take a special kind of person to do that. i was reading his background you guys were orphaned

is that right? >> yeah, steven is the youngest of seven when he was born, my father was 49 my mother was 44 so, he was our little miracle. but we were much older than him, and my parents died by the time he was 10 years old. so, we raised him. he was as much a son to us as he was a brother. he lived primarily with my oldest brother wes and my sister-in-law jackie god rest my brother's 0 soul he died about a year and a half ago. and he grew up to be this outrageous human being he was hysterical. he loved people! he loved doing things for people everyone thought he was a best friend he treated people like they were he died the way he lived, for others and, look, you mentioned early on, kelly, what we do as a foundation we we take care of gold star

families we pay off their mortgage and then, of course, first respond es every year we make sure that if they die for us and our community that we're going to take care of their families left behind what is more important than that we ask people to join us on a mission. go to tunnelstotowers.org. we ask them to donate. >> better than netflix, maybe. switch your bills over for a couple of months and you are carrying on a legacy it's a tribute to your parents, as i understand, when were late san franciscoans 20 years on from 9/11 this foundation is doing so much. what do you think the next 10 to 20 years have in store i'm sure it's a point which many foundations are looking back and saying wow two decades, really, of work we're doing. i mean, it's work. it's a lot of work to do all of this so tell me where the foundation

is going in terms of growth, new opportunities, and what you might say to others who have maded it to this point and are trying to assess kind of where they go from here >>well, first, i would like to say that our work is so far from not being over because there's two police officers that are dying this year alone. 200. many have young families so we're going deliver 200 mortgage-free homes for the 20th anniversary. if i had enough money, we could deliver 300, 500, and it's not enough it's home heros give their lives for our community and country all the time our work is always going to be cut out for us listen, kelly, our first mission is make sure we never forget i'm going on the walk and i wanted to make sure we shine a light on the sacrifice made 20 years ago. i want young families to understand that, you know, there was -- we lost 2,977 americans

because somebody came over here and they tried to change our way of life. they hate america and will try to do it again we don't want it to happen we want people to know our history and part of the way you do that is to teach it to young kids we have the mobility exhibit that goes all over the united states don't be surprised if we have more to teach the stories of 9/11 so our work is cut out for us for the next 10, 20, 30, 40, 50 years. it will always be around because there's always those who serve our country or serve our community that are willing to die for you and i. we better take care of them and the families left behind. >> in the immediate aftermath 9/11 i thought how can we forget as i get older, i understand so you to work to preserve these memories thank you for the work you're doing, franc, and the walk you're on today, for joining us, and hopefully many more

prosperous decades to come. >> thank you god bless you and god bless america. >> you, as well. coming up on "power lunch" we'll go to ground zero to speak with the architect who designed the 9/11 memorial. take a look at data we have the from alliance for downtown new york comparing retail low indications in lower manhattan before 9/11 and where we were before covid hit. stores and brars and restaurants took up about 41% of retail space. by the time you get to covid, restaurants had climbed to 52% and shops down to about 31% of spaces so certainly an area in transition and one that has come back to be just as vital as ever we'll be back in a moment. (vo) this is a place for ambition.

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welcome back, everybody. keeping an eye on shares of beyond meat which are flat today. down about 25% over the past three months the move comes adds rival

impossible foods chicken products hit grocer shelves and diner's plate. kate rogers has more >> reporter: hey it used to be about the beef but these planet-based meat companies are focussed in on chicken. impossible foods today announced the launch of its meatless chicken nuggets and handful of restaurants including fat burger, dog house, red rooster the product is also coming to grocery stores by the end of the month. walmart, kroger, albertsons, will carry the nuggets impossible plans to have them in 10,000 stores by the end of the year it's a significant ramp up the suggested retail price is $7.99 for about 20 nuggets it comes ahead of the reported ipo which reuters said in april could come sometime in the next 12 momts beyond meat is leaning into expanding its chicken products launching new tenders in 400 restaurants in july. mostly independent chains.

it's an improved product after an initial launch of chicken several years ago. the company has not revealed plans yet to offer in grocery stores but' than brown wants to focus more on protein diversity. the main difference in the two products is the ingredients. impossible's nuggets made from soy protein and beyond a mix of pea proteins. >> i'm almost skeptical. i can see if they get the burger can they do the burger and the chicken and someone is doing -- my real question is are these nuggets actually deep fried or is that also just a sort of slight of hand i can see it being healthier if they can get around that issue but not if they can't. >> they say, kelly, less saturated fat, less sodium, i believe they are able to be deep fried. the grocer version is prepared differently than the restaurants. they'll be cooked differently. a lot of people, you know, microwave or pop them in the oven at home i think it depends on how you prepare them as for how they taste, i haven't

tried them yet i'm curious. >> if my kids will eat them, i'm all in. >> you're sold. >> yeah. compared with the chips or whatever we ate for dinner last night. thank you very much. we appreciate it kate rojers with the latest. that does it for "the exchange." thank you for tuning in. don't go anywhere because "power lunch" starts now. good afternoon welcome back to work, ladies and gentlemen. welcome to "power lunch. a market divided in one corner speculative fever in the other a focus on fundamentals. how should you invest in you may find the best clues in the bond market and the post labor day trade. jobless benefits expire for millions of americans. two stops could get a boost from the job market shift a top analyst will name names. and bitcoin's pull back. the price um