what you have is a nasdaq down close to 3%. nearly 400 points. the dow is off 262 as we speak. that ladies and gentlemen, is a sell qualify. sorry i was in such a bad temper all day long. i will try to explain myself in "my take" on this tomorrow. meanwhile, here's neil. sir, it is yours. neil: you're right, that you have a bad temper is not my idea of a bad temper. i'm just saying. people citing bad temper out of stuart varney. they have not hung around italians very much i will leave it at that i look forward to your explanation, stuart. you're a great man a good man, not a very angry man. i don't know where that is coming from. corner of wall and broad maybe a reason some people are a little angry, we have a selloff going on in the corner of wall and broad. as stuart mentioned, janet yellen kind of stated the of obvious here, as things stand

right now interest rates would have to rise somewhat to reflect the improving economy and to keep it from overheating. she is of course a former federal reserve chairman. of course those words carry considerable weight. whether that was a signal that the federal reserve would be well within its bounds to go ahead and hike rates in the face of this, we're not sighing evidence itself right there that the economy is weakening, there are signs or stagnation or any of that. i think we're taking a leap too far there. having said that the 10-year note comfortably under 1.6%, with the pickup in activity. 10-year starts to move up with short-term interest rates move up. it could be competition with stocks, particularly high flying technology stocks already taking it on the chin and prospect of capital-gains tax going higher there is scant historical proof to say that would lead to massive selling in stocks, technology among them. we have a lot of factors

weighing on stocks right now. i want to go to lenore hawkins, thematica research chief strategist. lenore, i was watching close the treasury secretary words at this atlantic conference, she was stating the obvious, wasn't she? that federal reserve would have to do something, was that so tortuous or what? >> no, but the timing of it was awkward. last week fed chair sway powell once again reassuring no planned rate hikes until after 2023. again the federal open market committee when they said their rates, said one more time these inflationary pressures are expected to be transient. coming in having the former fed chair yellen say, well we may have to raise rates is a bit of a mixed message coming from them. neil: so, what do you think of

the rate environment? if it was supposed to spook the treasury markets, minimal impact right now, i'm just wondering where you see this going? anytime there is potential after rate backup, whether orchestrated by the federal reserve or market reaction to it, the fear is competition for stocks. the yield on the s&p 500 begins to trade under that of a 10-year note. you know how it plays out. are you worried about that? >> right. no. my concern with rates is that they really can't go up that much because we just have so much debt. i mean when you think about all the spending that occurred, the government spending that occurred during the crisis, understandably, you know, crisis. but you also had a ton of debt issued by the corporate side. we have record high levels of corporate debt. we have record high levels of sovereign debt, all over the world. as those rates go higher, that becomes more and more expensive.

that acts as a brake on the economy. it is banging your head against the wall. i really don't see how rates can get going that much. plus you were talking about the high flying technology stocks. one of the really amazing things we saw through the pandemic was the ability for technology to be used to really increase productivity. that productivity is also a bit deflationary. that helps with keeping those rates lower. neil: lenore, very, very quickly, we already to your point about the debt, we already heard the u.s. plans to borrow $1.3 trillion over the next couple of quarters just to pay for the spending policies we have already, let alone the ones coming down the pike. what do you think of that? >> i think when the economy is going this hot right now, that you've got yellen coming out saying maybe we'll need to raise rates, why do we need all the stimulus? that is like driving with your foot on the brake. you're hitting the accelerator

braking at the same time, makes no sense to me. all that debt, that is a drag on future consumption, that is dangerous for the future of the u.s. economy. so i'm not a big fan of it. neil: well-put. lenore, thank you very much for making sense of some of the craziness going on right now. this is widespread among all major sectors right now, particularly technology stock which ridden the fastest, now dropping the fastest. this happened many times throughout the long and bumpy bull market. we don't want to extrapolate this. so many tech titans reported better than expected news. amazon jumped 200 points in after-hours trading. alphabet was doing the same. the problem following through the day's regular trading and next weeks regular trading. putting in context, the percentage drops scary to look at are pretty contained considering a lot of these issues are in and out of

all-time highs, not just 52-week highs. i want to take your attention to texas where corporate america is once again responding to the state's new voting system and new plan on voting rules. jackie deangelis in the middle of all of that and what companies are speaking out and why. reporter: good afternoon to you, neil. that's right, it is a very fiery debate and it is heating up in texas. remember it was american airlines and dell, they were the first to speak out about it, now today, letters criticizing the proposed new legislation and companies like hp, microsoft, unilever, sales force, patagonia sodexo are companies penning a letter. the letter comes from 100 houston executives, goes so far to call the legislation voter suppression. there is a big debate about changing voter laws in states like florida, georgia, texas. they're has been this debate whether or not these corporations should be weighing

in on political issues. corporations making political views known it, resonates differently with different age groups, right? the baby boomers they're less interested in it. millenials, gen-z they tend to like it to that point some companies feel this falls under corporate responsibility if you will. a spokesman from pat gone gnaw told "the new york times," the history books will take note who supports voting rights now and who doesn't. i think companies that do will be rewarded ultimately. that is an interesting perspective. senators mitch mcconnell, ted cruz, rick scott are outspoken of this issue. mcconnell says corporations should get out of stay out politics and ted cruz will not take money from woke corporations. neil: jackie, thank you very much. they won't go to the next level boycotting the state, protesting games at arlington stadium where the texas rangers play.

we're not at that point yet but will we get there? what is the impact if they do? are they in their own way again or again politicizing a strong point of view and maybe hurting their business in the process? go to spencer brown, "town hall" managing editor. we have carley shimkus with us as well, "fox news headlines 24/7" reporter. carley, as just a fan, you look not at companies per se but let's say the things they might target a voting law that might get them moving against major league baseball or against other, you know activities in the state or sponsored activities in the state, does that worry you? >> well, we saw it totally backfire for everybody that tried to do that in georgia. so that is why i think that what is going to happen in texas may be a little bit different. so first of all what is being considered in texas seems like a lot of trying to undo what was put in place during the pandemic. so things like banning 24 hour

voting and restrictions on drive-through voting. so republicans you know say that they're just trying to create free, fair elections. democrats saying this is restrictions on minority voting, going down party lines. as for businesses jackie mentioned two different letters. the one making big headlines signed by all the major companies like hewlett-packard, unilever, patagonia, that one didn't really criticize the bill on its face. they basically created this very broad statement that said they support, they don't support anything that would make it more difficult for people to vote which i think we can all agree on. so it really seems like they're trying to respond to this without really responding saying that okay, we're woke enough to issue a statement without being too woke, upsetting republicans. neil: you know, i don't know how this bears to the georgia situation, spencer, but again, it seems like a lot of these

companies did take the effort to actually read the new rules in texas, what they will be about but they still are, have this sort of temptation to follow the pressure from the woke crowd. they don't want to tick anyone off but invariably, in so doing they tick everybody off, don't they? >> oh, completely. look at who they're sort of pandering here, the statement from the patagonia spokesperson how history will remember them fondly. only people that look on decisions like this fondly are the woke people on twitter. that is not a representative sample of either a customer base or american people in general. "pew research poll" a study they did, found twitter users are representative of only 22% of the american people and out of the people who are active on twitter, 10% of those users are putting out 80% of the content. trying to appease the people on line yelling, giving the gold star of wokeness to companies that take steps like this are

ignorant of reality, what the bill pushes. texas, two billions they're considering would actually expand number of days where people can vote early to be more than in existence right now in new york and new jersey. on those days they have more hours which to vote than states like new mexico and maryland f they're worried about voter suppression if that is what they call things like, they should look at states where voting is more limited than texas. neil: carley, quickly draws the line when some form of i.d. when you go to vote. that seems to get folks riled up. that you have to submit it when you have, you know, will call tickets a theater event, baseball game, dare i say it at arlington stadium but that seems to be the real bone of contention here. >> absolutely. voter i.d. is such a strangely massive issue, something that democrats constantly push. i would just say show me the people that don't have i.d.? if they don't have i.d.s get them i.d.s.

quite frankly it is racist to say that a certain group of people are less capable than other group of people to obtain i.d.s. you're right, you do need that i.d. for everything from getting baseball tickets. i don't see it as something should be an issue when you're at the ballot box either. neil: yeah. the same crowd, remember correctly, spencer, is okay with vaccine passports to prove you did have your vaccine, right? so there does seem to be a weird double standard here? >> oh, completely. like carley was mentioning nobody says it is racist to require an i.d. when you board an american airlines flight. you have to show an i.d. when you check in your luggage or a boarding pass. in texas, voting found voter i.d. found 81% support including 72% of democrats. that voter i.d. is beyond the pale is out of step that telling people what they should deserve

or what they want is not based in reality what the people of texas want or think. don't mess with texas is the slogan. it will be interesting to see what texas state leaders do in response. neil: what will be the final measure. spencer, thank you. carley, thank you very, very much. i want to draw your attention what is happening right now. white house is coming up with plan to get republicans and democrats on board with his new spending initiative. but that is going to require some major leaps here because he is running into resistance not only from republicans but from democrats. blake burman with more from the white house. hey, blake. reporter: three days we've seen president biden out on the road trying to sell the american jobs plan, the american families plan. out on thursday, friday, again yesterday. today we'll get an update from the president as it relates to vaccinations across this country but the president will be once again traveling on thursday to louisiana to pitch his economic vision and we've already seen the president this week try to

explain one part of the family plan. eliminating what is known as the step up in basis. now that is the accounting measure that tends to minimize capital gains for wealthy individuals and families when that inheritance is passed down to them. the tax foundation has found that whether it comes to, for example, just give one example here, an asset with $100 million in gains would be passed down with no family planning done, under president biden's proposal that would face a 61% tax hit. that is when you figure in the estate tax and proposed capital gains as well. here was the president yesterday why he feels the step up in basis should be eliminated. >> look, maybe decent, honorable people and they are but the last thing americans with amount of wealth needs another tax break. reporter: according to the tax foundation, neil that would be 61% tax hit when you're talking

about ultrawealth passed down now. according to the tax foundation as well that same number if were to happen today, the same circumstance it would be a 35% tax. certainly a much different figure than what the president is proposing going forward. neil? neil: all right, thank you very much, my friend. blake burman at the white house with all of that. so the tug-of-war and back and forth on this continues. they have very, very little time. democrats are getting nervous with the run of the table. house, senate, white house, to get a lot of these spending packages done. that resistance is more of a factor within the democratic party than outside of the party. we're well off the lows meanwhile, the corner of wall and broad. one tech issue turned positive here as tech attempts a comeback. ibm was down better than four bucks. it is now up a buck 79. stay with us. you're watching fox business. ♪.

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wondering with your three children have you told them that is your goal too? if they're looking at a huge inheritance it ain't coming? >> we certainly talked to the kids the vast majority of the wealth is going to the foundation. our foundation is set up after the melinda and i are gone the foundation will spend its money within 20 years. our kids are excited about the foundation work. they will get a great college education and some support, so they're very, very lucky but i think -- neil: but they're set for life? >> absolutely, do any of them think they have to work at a 7-eleven? >> not at all. neil: that was bill gates way of saying almost a decade ago his kids needn't worry about his kids, giving away the philanthropy, that the kids would be okay with it. now we got news that bill and

melinda gates are splitting up. it is nearly a 150 billion-dollar empire. gerri willis on the fallout way beyond the family. hey, gerri. >> neil that's right with bill and melinda gates calling quits on their 27-year marriage, the fate of their fortune is up in the air. the two took to twitter yesterday and wrote this. after a great deal of thought and a lot of work on our relationship we have made the decision to end our marriage. now, the microsoft cofounder is listed by "forbes" as the world's fourth wealthiest person with a net worth of $135.4 billion. that is just behind jeff bezos of amazon. he divorced in 2019 after a 29-year marriage. mckenzie scott received 25% of his stake in the company but the gates settlement could be far

more complicated. >> bill gates is known for owning most of the farmland in the company. he has investments, with biggest car company in the world. railways, hotel chains, it's a come mention estate. reporter: the couple had no prenuptial agreement but will split the property according to a separation agreement. the details we don't know yet. melinda gates is asking for no child support. washington state where they live in xanadu 2.0, it calls for community property, the separation agreement overrides all that. the 27-year-old marriage produced three children as you mentioned before. they're now adults and the bill an melinda gates foundation given out millions of dollars to fight poverty and disease around

the world. they gave 1.5 million to back the global response to covid-19. as i send it back to you, the foundation has assets of $50 billion. the two of them, bill and melinda gates have pledged to keep working with the foundation. a lot at stake for people all over the world, really. neil: put it mildly. gerri, thank you very, very much. gerri is right, this is 50 billion-dollar plus foundation, one of the world's richest and they started this with $17 billion of assets switched over from the microsoft stock they both owned. that was then. it is a thriving enterprise right now doing a lot of good worldwide. david callahan inside the philanthropy founder, the givers, is his book. good to have you, david. i cannot imagine since this is so important to both of them they will do anything to jeopardize it what do you think? >> no. they put 20 years into building this foundation.

they're both deeply passionate about the cause that is it champions. so i don't think anything is going to happen to the foundation. it has 1600 employees. commitments around the world. it is going to go on as usual. the big question is whether melinda gets a large chunk of cash and goes off to do her own thing and becomes a separate philanthropist in her own right? neil: that is kind of what mckenzie did, jeff bezos' wife, now she is taking a good deal of money got to put it into separate philanthropy efforts. the gates are different because they have already such a foundation going. do you think she would stick partly to that and also venture out on some other initiatives? i know she is all for, you know, gender equality initiatives and helping women in business and around the world? what can you see her doing? >> well she has been a huge

champion of women's empowerment. she already carved out a major role for herself on global leader on issues of gender equity. this is global news story. people around the world are paying attention to this, really underscores how much power philanthropy has when it is backed by billions and billions of dollars. these are two private individuals that preside over a foundation that gives away $5 billion a year with just three board members. what it does makes a big difference in a lot of people's lives. is that too much power? i think so. neil: so you know, it has some big backers, warren buffett chief among them. i wonder whether it scares off those financial backers or those who might think twice about the giving pledge, not that it requires to give the gates foundation and give away their wealth while they're still alive, that sort of thing, do you think any of that is

changing? >> it is hard to know what is coming. warren buffett is the third member of the gates foundation board and committed the majority of his foundation to the gates foundation. they have been very close for a long time. i assume that that relationship will continue. neil: david, thank you very much. david callahan, following all of this closely. a lot more expertise than any of us. we'll see how it all pans out. we hope well for the couple. they have done a lot of good for the entire planet. we have a lot more coming up including right now concerns of another skylab. remember when skylab, the old space station that the united states started was abandoned and eventually came burning back into the atmosphere? now the chinese have a rocket that could be pretty much looking at the same fate, only this one is 10 times as big, 10 times as weighty. that is why the world is getting kind of anxious about it.

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♪. >> welcome back to "coast to coast." i'm fit key keating. as far as space junk goes this one is enormous. the center core stage after chinese rocket that blasted off a couple days ago. it is circling our planet every 90 minutes and slowly descending. over the next several days it could land somewhere on our planet. the big rocket blasted off last week from south china. it is huge, one of 10 more planned launches all for china's ambition to build its own space station. it was completely successful launch but the size of the stage four rocket, 30-meters long, five meters wide, is far larger

than piece of discarded rocket debris that usually burns up in the earth's atmosphere. president xi xinping said quote, the construction of a space station and establishment after national space laboratory is an important leading project for building a powerful country in science, technology and aerospace. there are two more launches scheduled from china in the coming weeks. it will send cargo up on one and three chinese astronauts on the other to the core module which is about the size of a five story building. this is an artist rendering of the final product, a quarter of the size of our current international space station. astronomy experts nothing heavier than 10 tons has been left to fall to the earth since 1990. since most of our planet is ocean, 71%, likely any pieces do not burn up, do come down will smash into the ocean but there is a risk that inhabited areas

could see some debris. that happened a year ago on a different chinese rocket when it came back to earth, some metal rods damaged buildings in the ivory coast. neil? neil: phil, thank you very, very much. to michio kaku, theoretical physicist, the god equation, request for everything author. should we be worried? >> well, round and round she goes where it lands nobody knows. you know rock skimming? children play rock skimming, right you? don't know exactly when the rock will enter the pond. the same thing with this rocket part. we don't know where it is going to land. it could land anywhere as far as north as new york city and as far south as new zealand but anything in that band would be fair game. and remember skylab back in 1979? that was a 76-ton satellite. people were taking bets, people were taking bets as to which

backyard skylab would crash into. so history repeats itself. neil: now, skylab as memory serves me right, didn't it fall in australia at the time? >> that's right. part of it fell in australia. also before that the russians had a similar problem with cost most 954, that had reactor on board, a nuclear reactor crashed into canada, contaminating several hundred square miles. neil: you know the chinese aren't even acknowledging there is a problem here, michio. i thought that was odd, if they're planning more such launches, this is not a big deal, it seems like it jettisoned either too late, too soon, i don't know, but it was supposed to burn up on its own and that is not going to be the case here, at least a good chunk of it, so what are we really looking at? >> the chinese are roughly 30 years behind the west. they're catching up rapidly and

30 years ago that is what the great powers did. russians, united states, would allow parts to deorbit and could land in someone's backyard, well, tough. that was 30 years ago. now the chinese are making the same mistakes all over again. neil: yeah. the difference then and now is china's rockets are much bigger than obviously they can do a lot more damage but i thought there were international rules on this sort of thing? i guess not. but, does it worry you if they go pell-mell, you know into this space race without factoring in things like this? >> nasa administrator was rather irritated that the chinese did not take extra care to deorbit their satellites. this is an ongoing problem. we have 6,000 satellites in orbit. over half are dead satellites. eventually all of them will deorbit.

eventually all of them will come down. there have to be rules which we deorbit safely without them landing on people's backyards. neil: michio kaku, thank you very much, my friend. fingers crossed this doesn't fall on our heads here. as you say, 71% of the earth is water. odds are it would land there. they said that with skylab though. landed in australia. didn't land on anyone. >> they were taking bets at that time? neil: remember the under and over. bookies in vegas were taking bets. that is separate story. thank you very again. we're monitoring monitoring thi. while you're not looking up, look at some of the good news on terra firma earth, good news on the virus. not everywhere. certainly not in india, but growing signs here, certainly. ♪.

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david: this country on the covid front as more and more cities and states push forward reopenings. in the case of florida will be almost immediate, pretty darn close to that even in new york, new york city. more on that in a bit. india of course a very different story right now. not just for india but for countries like laos, thailand where the says the situation in india could happen everywhere and already is. let's get the read on all of this, dr. marti makary, johns hopkins professor of public health.

doctor, i appreciate your expertise every time we have you on. developing world catastrophe when it comes to covid, particularly in india, could that ever happen here? >> good to see you, neil. i don't think so because we have a fair amount of population-based immunity they didn't have. what people don't know about india, they hunkered down, stopped all travel india. you have entire population aversion to the infection. late in this pandemic it really sort of blossomed there. it came as a surprise to all of us. it is good to show a fair amount of humility in the pandemic. it is horrific. there are things they can do now, focus on our mistakes. dose bearing strategies. don't immunized people already infected while you're rationing. focus on first doses. they not oxygen in the hospitals. that is the big bang for the buck intervention. neil: they can't leading up to

it, it is leading to a cascade of errors and they really can't get back on track. normally when something like that happens it doesn't unhappy quickly. so what do you see happening in india? >> well that's right and what we're seeing around the world is when you have a low population vaccination rate then you've got the risk of things breaking through so what you have there are very crowded conditions. it is sort of the perfect storm for this to escalate and a lot of people without natural immunity. so i don't know what the solution is. unfortunately i think we think about it too long. we need to send oxygen, send vaccines, get help on the ground. that is what they need right now. neil: in this country we have already said those traveling from india to the united states will not be, will not be welcome. it is a similar position that at australia and other countries are taking. is that a wise one?

>> i think so. high degree of certainty among many of us strains seen there are already in the united states. we don't have to sound the alarm about variants. we've seen a pattern of variants forming with coronavirus. with every variant the vaccines we have are entirely encompassing that variant in terms of crushing serious disease, hospitalization or death. i think it is reasonable to play it safe a little bit but i'm not concerned about the variants there. neil: meantime, doctor, i notice the fda is ready to authorize the pfizer vaccine for kids as young as 12. continue the push to get more vaccine out to more people, regardless of age, asap. what do you think of that? >> i think it is good news, a little curious comes out just before the earnings call. we normally hear about things when the fda announces them. that is interesting. that follows an interesting litany of announcements come at odd timing for the normal timing of announcements when trials

read out. that is good news. a 12 to 15-year-old is physiologically similar to an adult. they should be offered a vaccine but we have to make sure the dosing is right but it is good. neil: thank you, you did invade my little financial turf with the response on pfizer but you're welcome to do that. you're that smart. doctor, thank you very much. >> thanks, neil. neil: as the good doctor was speaking we have selloff continues in nasdaq and technology stocks in particular although some are off their lows of the day, including the dow, well off its lows when we were down more than 300 points. the fact of the matter it is an uphill climb. i do know ibm which is down is up. this is one of the few technology issues that have come back, most have not. a lot threatened by higher capital-gains taxes which could make it more attractive to bail out of these issues and just the prospect of higher interest rates. there is competition out there, after this.

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esoteric, little distance when you talk about things like gas, yes, you see that at the pump every time you fill up but a little more hard to gauge when you start hear about foods like wheat, barley, eggs, milk, but that is popping up at the grocery store and time and again those prices keep rising. edward lawrence with more from bethesda, maryland. hey, edward. reporter: neil, you look closely at the grocery store everything you buy there is going up. i bought this loaf of bread, cost me 30 cents more this year than last year. year-over-year we're looking at an increase of about 3 1/2% totally at the grocery store here. that compounds as you buy different things. i want to break this down here. look at the individual sectors so to speak in a grocery score. cereal and baking products up 2.6%. meat, poultry, fish, eggs up 5.6%. fruits and vegetables up 3.8%.

non-alcoholic beverages up 3.2%. so far the shops are shopping smart. >> [inaudible]. i will do the bread and buy one get one free bagels. one week i'm probably having sandwiches. next week i'm having bagels and coffee, something like that. reporter: eventually she knows as prices increase it will eventually affect the her budget. companies announced their costs they will pass on to the consumers. proctor & gamble will raise prices on baby care, feminine care products after raising commodity prices. on an earnings call, general mills, the company behind 100 food brands says it will raise prices due to inflation costs. coca-cola expects to increase prices as input costs rise. a host of other companies are saying the same thing. right now, there are small gradual increases, not setting off any shopper alarms.

>> wouldn't say i'm concerned about it. i think economically things are going fairly well as far as i understand. but, yeah, i'm not too concerned about -- reporter: so the federal reserve does say we're going to see a spike in inflation this year they believe 2.4%. the federal reserve chairman says it will back down. i talked to some economists who believe once you get the inflation spike, it will be hard to settle by itself. back to you, neil. neil: not settling to your point edward. great reporting on this. chris spear, trucking president and ceo. the backdrop it is hard to find truckers to get stuff to store. that could invariably lead to higher prices as well. so, chris, how bilge of a worry is it right now that we can't fd enough truckers. >> it is a problem. it has been a problem. we came into the pandemic with

shortage of 61,000 drivers. i'm certain new numbers will be a bit inflated because of the pandemic. as we exit, we'll have that problem, a long-term problem we need to do multiple things to address. if you look back at the pandemic, store shelves, restocking toilet paper, eggs, milk, masks and test kits, vaccines to where we need to go, it was a truck driver to did that. it is hard-working loyal, patriotic industry and we do have a shortage. we welcome more people to come into the industry. it is good pay, good benefits. you don't need a college degree to go with it. neil: yeah, i was noticing it is very good pay. the pay has gone up dramatically over the past year. yet the jobs still go wanting. what is the problem? >> i think you're going to see some lag time with people still getting benefits out there. we're seeing it across the spectrum, not just trucking. so it is going to take a little time to evolve next couple quarters perhaps but i think once we see that pass, we'll see

more people reenter and we relcome that. it will take a lot of pressure off the industry to meet our customers needs but long term we have to hire literally 160,000 drivers over the next nine years. over the next decade we have to bring in over a million in the entire industry just to maintain current economic demand. so it is a problem. we acknowledge it. we've got to take aggressive steps to bring more talent in. neil: i'm just wondering what the longer term effect of this is? this is a bit after catchup for people to respond higher wages, very lucrative offers out there but at the same time is it could be a delay of stuff not only arriving on grocery store shelves, but shelves period. maybe valued toys and other things for the holiday season. could you lay that out for me? >> i want to really stress to everybody watching, we'll not run out of fuel, run out of milk, eggs, toilet paper?

you recall that? there is plenty of it out there. there will be a driver to make sure it gets where it needs to be resupplied. the added pressure of not having enough drivers to move equipment. we have tons of trucks, a lot of equipment sidelined right now because we don't have the drivers to move it. our ability to respond to this economy, grow more quickly depends on having a viable talent pool. you have a lot of people exiting as they retire. we have trouble recruiting in terms of young people. we have to make a very concerted effort over the next five, 10 years, to really fill those gaps if we're going to maintain pace with the economy. neil, we're moving 71% of the domestic freight in this country, no small number. regardless where it is in the supply chain, at one point in time it will touch a truck and it's a driver that gets it where it needs to go. so it is not a situation we take lightly. we got to take aggressive steps to deal with this problem. neil: indeed.

i hope more people respond because it's a very good profession. you can do very, very well at it. thank you very, very much, for all of that, keep us posted. chris spear. corner of your screen you can see what is going on right now. nasdaq, of course technology stocks in general. but i hasten to add that borrowing costs that this country is incurring to keep all of this spending going, we plan to borrow $1.3 trillion over the next couple of quarters, just to fuel the spending already introduced into the system. that is not including the trillions more. it is possible that a lot of investors are seizing on that, saying that is not good. after this. last look at my dashboard before we board. excellent. and you have thinkorswim mobile- -so i can finish analyzing the risk on this position. you two are all set. have a great flight.

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neil: all right, this may is proving a very bumpy ride for the markets thus far particularly for technology stocks, the old addage for the six-month sell in may and go away and don't return until the end of october/ november. that is in the eye of the beholder whether it always works, the strategy being that these particular six months tend to be under performing from the prior six months, and that doesn't mean they can be any less bumpy and proof of that today when janet yellen the treasury secretary had a conference put on by the

atlantic said that rates may in fact have to raise somewhat to keep the economy from overheating. now she was stating the obvious right now, that conditions might warrant a rate hike or two keep in mind she's the former federal reserve chairman, but the fact that she is saying that in her power as the treasury secretary and this might be unavoidable, even though jerome powell the guy that runs the federal reserve right now seems to signal that was unlikely anytime soon. technology stocks particularly taking on the chin, they would face the most pressure to sell, because they be in competition, certainly, when we take a look at the capital gains tax hike to come whether it's as high as the administration wants, and interest rates move up to the degree they could, it's a good time to sort of lock in your profits and sell some of these winners, it appears to be what's happening today, whether it has any longer term traction, we'll simply have to see. in the meantime, we are focused on other more positive developments, particularly on

the rollback and restrictions across a number of states when it comes to dealing with covid. some of them ending immediately. jonathan serri has more from atlanta. reporter: also some exciting news on on the vaccine front. soon, children ages 12-15 may be able to get vaccinated possibly before the beginning of the next school year. a federal official tells the associated press that the fda could authorize pfizer's covid vaccine for this age-group by early, by next week, and the agency could approve the vaccine for use in even younger children, some time this fall. as u.s. vaccination rates increase and new daily case numbers go down more states are reopening in florida governor ron desantis has signed a bill vanning vaccine passports. he's also rescinding all local pandemic restrictions including mask mandates. desantis says it's unnecessary for government to continue enforcing safety guidelines when there's enough vaccine available

to every adult in the state who wants it. >> folks that are saying that they need to be policing people at this point, if you're saying that, you really are saying you don't believe in the vaccine. you don't believe in the data. you don't believe in the science reporter: on may 19 new york and new jersey will lift capacity restrictions on everything from bars to broad way theaters although some social distancing procedures will remain in place and finally, drugmaker novavax has announced it's starting vaccine trials on children 12 and older. novavax vaccine is still in the development phase not yet approved for any age but it does expect to enter the fda approval process in the very near future, neil? neil: all right, jonathan serrie , thank you very very much again we'll be monitoring governor ron desantis of florida. he will no doubt be outlining some of these measures he's taking to open up the state like immediately. we should let you know that disney, particularly disney

world, will still be requiring masks in the interim out of abundance of caution and de suggestions that it sees fit. we're told that the governor is allowing businesses and local municipalities to do what they think is best, but that the edict from the state is any of this is necessary, anymore , sarah westwood on the implications, sarah with the washington examiner, cracker jack writer and follower of political events and sarah, if you knew you were coming here you'd think about the two early beneficiaries in the republican sweepstakes for 2024 leaving donald trump aside, governor ron desantis comes to mind with what he's doing in florida to deal with covid. even kristi noem in south dakota how she's responded without ever implementing nearly the number of mandates, certainly no mask mandate, and they are both one and two, among respected presidential candidates, leaving donald trump aside. what do you think of that? >> that's right, neil i might even add texas governor greg

abbott to that list, someone who now two months ago lifted restrictions in texas and texas actually did not see a spike in cases and in fact saw covid-19 infection rates drop after governor abbott dropped mask requirements and started to ease those restrictions. consistently throughout the pandemic, we've seen public health experts and democrats criticize those governors, particularly desantis, for working to ease restrictions and lockdowns, and they have been correct in gambling at the time, that that was not going to lead to a spike in cases. in many places where you've seen the restriction, stay at a very high level, you have seen the covid cases continue to spread quickly, and so those governors are likely going to carry that success into 2024 if they decide to run that is building sort of a legacy desantis in particular. neil: do you see any possibility , sarah, that desantis or even if kristi noem in south dakota who gotten her

own following on how she's handled the virus in that state, even if donald trump runs. >> no republican so far is really signaling that they may run in the event that trump decides to run. i think there's a lot of reasons for that but a main one is that to suggest at this early stage that you would take on donald trump be to sort of reveal a level of disloyalty that republican primary voters may not react well to. neil: well chris christie seems to be teasing it, regardless. what do you think? >> many of them are teasing it chris christie obviously in a more overt way, many of them are making pretty obvious moves towards setting up a 2024 run, but in doing so it would basically be giving donald trump a three-year head start to beat up on them every day. that's not something any republican candidate is going to want to do. neil: very good point. let me ask about the whole liz cheney thing. it heated up over the past week, with her saying the big lie

about the election and that it was a fraud and that it was illegitimate. she's not giving up. kevin mccarthy, i don't think i'd ever seen someone dance around the question or an issue as much as he has this one, but she's not going away, and she does represent a part of the party that is not going away what do you think? >> she seems to represent a smaller constituency within the republican party, than the one that mccarthy represents she is a member of leadership and so she took that job, she's supposed to represent all of the republican party in the interest of where the party is trying to go, but at this point if she were to back down from the position that she's staked out, her credibility be completely ruined , so at this point, her fate is sort of sealed. you are starting to see mccarthy move closer and closer to allowing a snap election to have her removed or allowing her to take on some of the damage that

she's created for herself. that's a real shift from when there was a leadership election earlier this year, mccarthy was publicly defending her but she's been so outspoken. that's no longer really politically tenable for mccarthy. neil: yeah, what i don't understand about that, sarah, is if she's been faulted for criticizing the president and his actions, but is perfectly okay for the president to rip her words and actions, so it does seem to be a one way street. he can rip any republican he wants. any republican who responds even remotely in kind is like it's weird. >> that's right and cheney is certainly not the first victim of that. nearly every republican who has tried to take on trump has suffered the same kind of fate as cheney. she's sort of in a position of being technically correct but also, a wrong fit for where the republican party is right now. that's difficult position for her to be in, and not necessarily one that she may be

able to hold on to as she has fewer and fewer allies within the house gop conference. neil: all right, we'll watch it very closely sarah westwood of the washington examiner. meanwhile, i do want to draw your attention we're showing the nasdac for a reason down 345 points right now, led by big declines in the likes of amazon and microsoft and alphabet and a host of others, the heavyweights that were leading the parade are now leading the exit from the parade for now, scott martin , kings u.s. asset manager , jack mcintyre, scott, to you, first. if i had a dime for every time i'd seen the great correction for technology stocks and titans , i'd have a lot of dime, right? so the latest argument is they're coming back to earth because interest rates are ris ing, capital gains taxes could be rising, a good excuse to sell these high fliers, while you still can make some money so is this time any different from some of the prior?

>> yeah, and you could have made a few dimes plus, neil, if you actually bought into those corrections and actually tried to avoid the fear trade out there and the selling and actually take advantage of lower prices. look, these tech stocks, these high fliers, these momentum plays don't like the notion of higher interest rates. we've learned that a lot this year. here is the one discouraging thing though, neil. the companies you mentioned earlier on the apple, google, the microsofts, the amazons, all had blowout earnings of recent note, say last couple weeks or so, some of the earnings reports that these companies had were amazing, and the company stocks have not gone up since. they went up for like a day after and then pulled back considerably in some cases since that's a little discouraging from the standpoint of what the market was expecting, what the market got and what we're seeing from the stock prices themselves. neil: maybe adding some salt to the selling wound today, jack, was this news out of janet yellen at this atlanta conference in which she said rates would have to raise somewhat to keep the economy

from overheating. i don't think she said anything that average market watchers be stunned by, but maybe coming as it does a week after we heard from the fed chairman, the present fed chairman, jerome powell say that was unlikely, i'm wondering what's going on here. what do you think? >> so, you know, we've had rates move up pretty significantly since august of last year, and february and march, the long rates really started to accelerate, so i think that's sort of reflected, neil, one of the things that might be going on as we get into 2021, markets are forward-looking. they are going to start looking at 2022. we're probably at peak economic growth, peak earnings growth and certainly peak fiscal stimulus, so i don't know again i'm not trying to pick a top in the market but just to me it kind of makes sense that we start to see maybe a little bit more two-way close in certain

sectors and tech is certainly one of those. neil: yeah, you know, it's hard to glean trends in a market like this but it's one that bears watching and we'll keep watching it scott and jack thank you both very very much. one other trend we're watching closely is what's happening to tesla. it too is falling off i wouldn't say falling off a cliff but there are some interesting reports right now talking about how it's running into trouble with regulators, for example, in china, and europe, and now a report that says fully one out of five electric car owners invariably return to traditional gas powered vehicles. one out of five. after this.

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neil: there are a lot of people who like traditional gas powered vehicles for lots of reasons and i'm just wondering if we're going head strong into a rush that might not meet the demand. >> yeah, i think it's mostly different industry forecasts out there at the moment including

the ev adoption and there are some concerns from customers in terms of some of the things with respect to ev, like infrastructure, charging, range, and the like, so from that point of view, i think adoption is growing. neil: all right, that was rory harvey the global cadillac vase president and leading this push for electric vehicle cadillac's and the rest and that does seem to be the globally-cool thing right now, but what isn't as cooler in demand as some of those pushing it thought, that in the case of many electric car owners already , one out of five of them invariably returned to gas power ed vehicles. what does that mean? we've got two brainiacs from the university of california davis ev research center, the institute of transportation studies, with us, dr. scott hard man, respectively. gentlemen, thank you both for taking the time. let me begin with you, on this one out of five ev owners,

electric vehicle owners, who revert i don't know, revert or add to with the gas powered vehicle. what are we to make of that? >> yeah, it's a great question. i think that it very much depends on how we look at it. most of the ev owners still own the car, the original one and the people that make the decision about the next car, four out of five decided the next car will be also electric and only 20%, one out of five as you said decided their next car after having an electric will be gasoline but most of them said that they will be happy to go back back back to electric when they will have the right charging opportunity, the range and so on: neil: you know, one of the things that i've heard from a lot of these electric vehicle owners is especially those intrigued by all of the non-tesla electric vehicles that are popping up everywhere on all of the major carmaker's names that their batteries are not compatible, in

other words what works at a tesla station might not work at a ford one or an audi one, and i'm wondering if that is what's driving the confusion or maybe the trepidation. what do you think? >> i don't think so. i don't think that's the issue here that we're seeing. certainly if the public charging infrastructure was sort of interruptible and you could use it any vehicle that be a plus but what we already see with this study is that home charging is the most important location. we know home charging is the cheapest place to charge and the most convenient and most influential decision to buy a vehicle and now we know the home charging is also important in the decision to continue ownership so the conversations already about charging, should be focusing on how do we get this high powered charging for as many households as possible. of course public charging, it's important, but it's not that frequently-used it's more for like long distance trip, occasional needs and what we need to do is figure out people who live in apartments, condos perhaps people who can't afford a home charger how do we get

home charging for those households. neil: but doctor, home charging it is convenient to your point, but it does take longer than these outside public locations. i'm just wondering if they solve that, obviously, they've solved a lot of problems. where do you see that? >> so it's interesting how you kind of think about time definitely when you're charging at home it takes longer to charge, sure, but you're asleep probably. if you go to a public charging station it's a five minute detour, you wait at the station, you're standing around, whereas if you just come home from work, plug your car in, go into the house, there's really, it's so much more convenient and quicker to do that, as long as you have the sort of higher- powered level 2 charger. neil: right. gil, let me ask you a little bit about that then. we certainly know that cars and electric vehicles are going a lot further on a single charge than was the case, i guess mercedes benz one coming out, 500 miles on a single charge, or a lot of tesla vehicles i guess

the top line one that is well over 400 now on a single charge, that obviously changes things a bit if more go that route or we start seeing a lot further mileage on a single charge. how important is that to consumers? s. well it is important, but not everyone needs it for all vehicles. most of us are doing a commute, average american household is traveling four or five times a year, more than 150 miles from home, so we do need a car that will do it. we're not going to find a different car for the day we're doing this long trip, but it's not that important for our daily driving. for example, we're not expecting people to have two 500-mile range cars. one will be two or three hundred, the other one may be 500. the other thing that's really nice about having long range is you plug it in at home when you're going to sleep but you don't even need to do that every day. you can do it every three, four, five days. you don't need to charge it to 500. you just need to recover the miles you were driving the last couple of days.

neil: if all tax allowances and credits were thrown out for these vehicles, would it make a difference or at this point, doctor, is it so far along that it would not? >> it already make sense for people who drive a lot and don't want to drive a pickup truck or a big suv, so if you need a small sedan and you drive daily long range, you will save on buying electric today with the existing prices but we expect battery price to drop dramatically in the next couple of years, and then it will be a right economic decision for more and more people. not for everyone but more and more people and more and more segment of vehicles. neil: so dr. hardman, let me go to you on this. many of the major automakers are looking forward to electric

vehicle-only lines, some as soon as five years, others a decade out. how likely is that in your eye? >> yeah, i think it's extremely likely. electric vehicles are inherently a better product than gasoline vehicles. they're faster, smoother, quieter, more reliable, cheaper to run. i think it's inevitable that people are going to start realizing that and choosing these vehicles. often people talk about the environmental benefits which of course they have, but that's what's going to get people in the masses to buy them, these sort of superior attributes. that's what's going to drive it and i think the automakers are right to be pursuing this transition. neil: fascinating. gil, dr. hardwood, thank you both very very much for taking the time. there's no denying the popularity of these vehicles for sure. in the meantime we'll be taking a look at what's going on with the higher tax environment we are experiencing right now. we talk at the federal level which hasn't actually taken place yet, but it already is at the state level and indeed, the

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>> philadelphia has a tax problem. we tax too much. we tax the wrong stuff, and what we do tax, we tax unfairly. the answers are easy, but they just take political will to do this. neil: for the mayor especially in some of the nation's biggest cities imposing tax hikes to come out of covid and the pandemic, philadelphia moved a lot sooner than others but it is not alone. jeff flock in the middle of all of that and the small businesses struggling, with a lot of that. hello, my friend. reporter: just off broad street here in philadelphia, neil, and yeah, you know, when you start

talking about taxes, everybody in philadelphia gets very scared because they are also already taxed very heavily. talk about small businesses here you see a lot of store fronts. i mean some are open, yeah, but a lot of them closed up, and one of the reasons is because of that wage tax they have in philadelphia. you know, i know you pay a wage tax in new york as well but take a look at the numbers in philadelphia. highest in the nation 3.88%, and if you don't even work in fill philadelphia, but work there, 3.46% on top of your federal taxes, state taxes, all of the rest. it's 44%, it's almost half of the city budget, and they get their money mainly from wages, taxing wages, not taxing property, i mean typically, in most cities, they tax the property. that's not moving somewhere. we even talked to a fellow whose a democrat ran for city comptroller, guy by the name of

brett mandell, he says this one party rule in philadelphia is not helping anybody. it just leads to a situation where nothings getting done and it's hurting small business. listen. >> jurisdictions, whether they're cities, townships, rely on taxing the value of place and taxing property. property doesn't move, therefore , it's a lot more of a stable tax base. we don't do that in philadelphia we tax businesses, we tax labor, labor and business move. reporter: so places like here, this is what they call nice town , neil. in fact over here, look at that big building there. the marriott hotel had some talk about taking that building and renovating it and turning it into something but it's just tough when you're looking at those wage taxes out there. they are trying to cut the mayor here in philadelphia, a democrat trying to cut the wage tax but they rely so heavily on it that it's very difficult to cut it or you just wind up gutting your budget, so not a good situation in this town.

i like philadelphia. my wife lives here, i sort of half moved here, it's a great old town with a great history but i tell you taxes, we had a party about that one-time back what was that boston, i think, but philadelphia they were upset about it too i think. neil? neil: i think in philadelphia they threw cheesesteaks into the river and they let it be known they weren't happy about it. thank you, my friend, very very interesting. double jeopardy moment there. jeff flock in philadelphia. meantime, back to the virus right now, and some states that are opening up quickly like in florida, and south dakota, and texas, and states like oregon where the governor has restored restrictions as some new covid cases start speaking, stan polia m the oregon mayor republican said enough is enough suing the governor, katie: brown, over these new restrictions, the mayor kind enough to join us right now. mayor, these came out of the blue, but i don't know if they be too much of a surprise

with the spikes that oregon has been experiencing, so that's the justification. you say it's a lousy justification, right? >> well, i mean, sure, neil. we've been shutdown now here for over a year with these back and forth lockdowns. we now have a vaccine that has been rolled out for several months. this was always about protecting our most vulnerable citizens, our seniors, those with underlying health conditions, so guess what? they've had an opportunity to get to the vaccine, and it's time that this governor substantiates and says here are the facts. here are the scientific evidence that substantiates our lockdowns which she has yet to show. we need to know why it's possible to jam pack in support from the largest corporations in this nation, big box corporate america but we can't sit down and support a locally-owned mom and pop small business that's outrageous. neil: all right now you've expressed an interest in running for governor, and by the way, we have reached out to governor kat

e brown, we've not heard back but if you were governor and you were to succeed and dealing with a sudden spike in cases in your state, how would you deal with it? >> well, i would start with the framework of trusting oregon ians. you look at other states and there's no difference in the facts when you look at the spread that happens in the state with less restrictions, for those like in oregon with an over-restriction. you look at other states they are rolling back these kinds of lockdowns. oregon is doubling down, and you think about the portland business journal. they just said that we're about to lose over a third of oregon businesses over the next six months. it's time for a new way. i mean, you look at the folks we're supposed to be protecting our seniors our most vulnerable citizens. those are the ones truly exposed to this virus. the vaccine is out there in either works or it doesn't, but it's time to open backup and get back to normal life. neil: you know what you have probably more current numbers than i do, mayor, but there's been no shortage of vaccinations

they've saying in fact it's in the upper tier of states that the vaccinations have gone through, but yet, it still experiences these issues. why is that? >> right. i mean, i'm not sure. i've been traveling the state on a listening tour and i'll tell you, folks are tired of these lockdowns. they don't understand them and you look at what's happening in other states they aren't rebelling as hard as oregonians indifferent parts of the state and we need to trust our neighbors and trust oregonians to do what's right and we're going to be fine. we need to get out of this thing neil: mayor stan pulliam, republican of oregon, thank you very much again we have put out calls to governor kate brown, we have not heard back, but hope springs eternal, we do ask questions very simple straight forward, hopefully we'll hear, we'll have more after this.

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just use this...or this to call unitedhealthcare about an aarp medicare supplement plan. neil: you know, you talk about coming out of the pandemic and so many small businesses that are hurting now and hoping for a comeback now enter this next guy , tom tuckey runs good guys signs, this is the owner and their business, their sales soared better than 33% last year in the middle of a covid widespread pandemic. how do you do that? he joins us out of tampa, florida, tom very good to have you. how did you do that? >> thank you, neil. thank you for inviting me on. i tell you it sounds easy but it sure wasn't. you start the year with a plan and we bought equipment, we launched a website, we hired people, we're going to have a

big 2020 we're a political printer and then the pandemic hits and you have to reassess, and maybe as much as anything you have to calm your people, let them know you care, spend some time with them, make sure they know they're getting a paycheck, i think the paycheck protection plan really made a difference. it was really quite helpful and we worked hard, and we added some new product lines. one i want to show you here. neil: do you know what's interesting you responded to the pandemic not by ignoring it but by seizing on it, you make signs after all and a lot of your signs grew out of the pandemic, right? >> that's exactly right. a lot of the sign and graphics industry prints for events, restaurants and retail and you know what happened to that, that went to crap, so all we could do is what do people need? they need covid signage, they need life size cutouts. we did so many things like that that really helped build the business. we did grad signs.

i lost my earpiece. neil: oh, okay, i'll shout extra loud as you're putting that back on, tom, one of the things we should point out is that life gives you lemons, you make lemonade, and so if a lot of kids are prevented from being at school for their graduation, you made signs to point out they still graduated so in other words you took full advantage of what would normally be a business losing proposition. that's not too shabby. >> well we had to. we didn't have a choice. we made the social distancing stickers, we made i actually have over 500 wholesale reseller s that we print for , and they jumped in with both feet, and made yard lettering, congrats grad lettering, all kinds of stuff like that to survive. i mean, survival is everything. we lost the primary season, so we did the best we could, and worked hard, and we're there for

our people and for our customers, and i'll give you an example of one i thought was rather interesting. the leslie house down in the keys is adoption agency, grace is amazing lady, and they couldn't have their main event, which was a gala, so they bought some letters from us, they sold them, they went viral in the keys, and i mean, they netted $25,000 and their mission is borderline sacred, it's spectacular so a lot of people tried some things, and it was a good year. it was a tough year. neil: you're a good man, tom. you could have easily folded up your tent and said all right, i give up. no need to continue to do this. you refused to do that. >> that's exactly right. hey, we made for may 4 we made a cutout. we're going to show you a little cutout we made for may 4.

neil: [laughter] well that looks good. we have two new heros in the galaxy, the financial galaxy you look pretty good too. you're tall, but you look pretty good too. neil: not nearly as thin, but that's fine. [laughter] you're a good man, tom. tell me about it. you look fine, young man. thank you very much for that. we will continue the good fight, tom tucky the good guys signs owner you hear more and more stories of people who have given up on their people, given up on their communities and refused to do so. he was given a big old lemon, and now, it's turning out a whole lot of lemonade. stay with us. you're watching fox business. >> ♪ ♪ ♪ ♪

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neil: all right, new york will be returning to business as usual, maybe a lot sooner than earlier thought. their stock exchange set to ease a lot of restrictions as soon as may 10. charlie gasparino has a lot more on that.

hey, charlie. charlie: hey, neil great to see you again. you know, new york is reopening slowly but surely, if you go out to the restaurants as i do, they are packed at capacity, and the latest sign that new york city is recovering from its pandemic shutdowns and they were massive shutdowns is that wall street is coming back to life, slowly but surely. jamie dimon gave a great interview today with matt murray the editor of the wall street journal where he laid out some of the things that jpmorgan is going to do, how he's ending zoom meetings, he doesn't want to have a zoom meeting ever again. he wants his people back in the office, at least staggard in the summer and the new york stock exchange which is a symbol , definitely, of wall street for many years, of the wall street new york headquarters of wall street is now beginning to reopen fully and here is what we know, and this involves both traders and the media, and as you know the

new york stock exchange has been a immediate media hub for many years in the last 10 years particularly and some of the floor traders trading has gone away its become a tv studio and basically is a place where we broadcast the opening and closing bell and the market action on the floor as it's going on and from what we understand the new york stock exchange is now meeting with media representatives essentially to reopen the floor for the media as soon as monday. now, whether we go back, fox business, as you know, we had a presence down there, cnbc has a very significant presence, i think at least two studios down there. others have presence down there, whether they are going to go fully or not i can't tell you just yet the new york stock exchange is not commenting, but clearly, the doors are being opened to media on monday, from what i understand particularly if you're fully vaccinated and you have to follow certain protocols they are being open on monday and that will be a visual sign that things are getting back to normal after the pandemic lockdowns. also on top of that, the new

york stock exchange is making efforts to bring back more traders. there were certain limitations on how many people can be on the floor. that said, a lot of people did not want to come back to the floor. a lot of the traders. what the new york stock exchange is doing now is telling people that if you're fully vaccinated many of the sort of rules and restrictions won't apply to you. you can actually eat at your desk which i believe you couldn't do before, if you're fully vaccinated. there's still going to be mask requirements, six feet social distancing, but according to our sources inside the stock exchange if you're fully vaccinated, there's going to be new rules to allow more people to go on the floor, for example, from what we understand, firms can bring all their people back, if under certain guidelines if they are fully vaccinated, so, all this is happening now, neil. monday is the date. i don't know if we're going to be seeing things back to normal on monday at the new york stock exchange, but i can tell you, this is a pretty big step in that direction, i should point out that my producer broke this story last night on fox

business.com which we have a full write-up, back to you, neil neil: all right, always a magnitskynanamus man, makes you a class act, charlie gasparino of fox business. all right, we've got dr. karen r uskin with us and another development that bears watching the divorce of bill and melinda gates it's $150 billion empire that has to be divided up how is that going to go, she's a psychotherapist, she knows of what she speaks, doctor, great having you. i assume this was in the works and a lot of it, maybe has already had the details ironed out, but this gets the attention it does because of who we're talking about how how do you think it's going to go? >> oh, of course, in the works. when it comes to divorce, many years in the making for most couples, great deal of thought and processing and consideration , how it's going to affect their business dealings, how it's going to affect the kids, how it's going to

affect them individually emotionally, in terms of their dynamic these are all things that most couples experience when going through a divorce. they are in the public eye so certainly, right before our eyes i think that the two of them are going to do their absolute best to be effective to have what be deemed a healthy divorce, and it's very interesting, because although divorce is actually on the decline in the united states , in the past 20 years, the divorce rate for over 50 is on the rise. it's called grey divorce. grey divorce. neil: mmm. you know? i'm not aware of the particulars , nor should i be pondering them. i am curious though, when you're separating what are essentially assets that rival many countries , it can go bad. i always think that the divorce between jeff bezos and his wife mckenzie was ironed out very amicable and there were no ruffled feathers there and now,

again i don't know what's going on behind the scenes but it is clearly in both bill and melinda gate's interest to keep the foundation and they feel very passionately about it have done a lot of good for the globe to keep that going and they both want continued prominent roles running that along with warren buffett so i don't see any of that disturbed but what about you? >> yeah, absolutely, because two people can have a business partnership without having a marital partnership. they are two very separate and distinct differences so the business partnership is going to remain. the marital partnership is what is going to end, so if the two of them can continue to work effectively together, which it sounds like that they most certainly have every intention of doing so, and i'm optimistic that they will, because they know it's clear to all of us, the public anyway, that they have such a passion for what it is that they do and they affect so many that they will work hard in order to make sure that things run as smooth as absolute

possible. neil: you know it's very different than the , right no you might be right i would defer to you on this , doctor but i also notice it's different than the jeff bezos divorce with mckenzie in that he was and is virtually the largest shareholder in amazon, bill gate 's role has been more distance as the years have gone on and he's devoted much of his attention to the foundation work i think he's down to 1% or 2% ownership of microsoft today still very influential just because he's the guy who created the company but it's different in that respect, isn't it? >> yeah, well they will do their absolute best, and i said i am optimistic and i said as the public, it seems as though, so i use, i say these things because the fact is behind the scenes, in most, most divorces, there is a lot of grief and a lot of pain and a lot of challenges and a lot of

heartache. doing their best may not mean that they are successful but it may and behind the scenes may not be what's going on in front of us because remember, skeleton s in every closet. neil: we'll see what happens. they have three children, they are all grown right now. he has already told them and this that they're not going to get everything. they are going to be taken care of but he wants to give it all away and his foundation is that start. we'll follow it very closely, dr. karen ruskin, thank you very very much, would love to have you back to update us on all of this. >> thank you. neil: microsoft stock by the way , is among those falling off in this tech free fall we have, having nothing to do with this and everything to do with fears that taxes are going up, interest rates will likely go up , and the attractiveness of owning high flying technology stocks is going down, at least today, but if you're bill gates and you're already the fourth richest man on the planet, that is of little interest to you.

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♪. neil: all right. the markets are still torn, particularly technology stocks over the prospect of interest rates going up and janet yellen, the treasury secretary all but saying they should go up in an

environment like this. but if it wasn't enough to deal with that of course an ongoing concerns about capital-gains taxes moving up here. depending how much they move up. it's a good excuse to sell. it is may, after all. not everyone is going away but so far technology investors but this has happened many times. charles payne, to you, my friend. charles: thank you very much, neil, good afternoon, charles payne. this is "making money." the market gyrations have many headed for the exits. our experts will weigh in whether you should run with the crowd, stay the course or even buy the dip. you heard of inflation inflection happening with everyday prices. seen it in your own life but how far will it go and when will it stop? all that and so much more on "making money". ♪.