fourth of july. it's always a pleasure to have you both on the show with us. anytime you can make it, it's an honor for us. liz: somebody's talking in my ear -- charles: and guess what? that is -- liz: yeah, charles, i'm right here. [laughter] i'm right here. you know, charles, we kind of got fireworks ahead of the july 4th holiday. the s&p 500 looks like a roman candle kicking off the second half of the year. folks, we are at session highs right now. a win within the next 59 minutes will be a sixth straight record, but even as the broader markets burn higher, are signals portending stormny skies? -- storm hu skies? jim grants of grants interest rate observer, has a blunt warning. he's giving it to you first in a fox business exclusive. speaking of heating up, the ipo market has been insane, charlie

gasparino has breaking news on the robinhood ipo. but in the meantime, krispy kreme goes public today. if the ceo is here on the doughnut shop's full circle return to the pluck markets. wait until you see -- to the public markets. wait until you see how it's behaving. and the first half of the year, an explosion on the launch pad. the ceo of payment processing company rocket fuel blockchain is here exclusively to tell us whether bitcoin and its digital currency pals will see a successful second half. plus, could the coronavirus delta variant upset that hot va, and summer that singles were counting on? the cofounder and chief dating officer of a hot dating app is here on the warning and why her app is fast becoming the safest one for singles. but let's begin with this fox business alert. markets are kicking off the second half of the year in

bullish style with the s&p well on its way the another record -- to another record close, and the nasdaq hovering just below record territory. but look at this, you've got crude owl prices gushing to multiyear highs, jumping above $76 per barrel earlier today for the first time since october 2018 on a reuters report that opec plus, which met today, will start increasing in august, increasing the output more slowly than had been expected. oil in the after-market up $1.51 to $74.98. oil overall has spiked 45% over year to date. add to that the weekly jobless claims that we got out this morning falling to a new pandemic low, coming in at 364,000 last week, well below -- and this is a good thing, when you come in below something -- well below the 390,000 stunt. and tomorrow we're getting the all-important june jobs report. economists expect a gain of

700,000 jobs, seeing that they were created for the month of june. but is there a silent warning coming from the bond market? the 10-year yield has settled back in march at 1.7%. why then have yields now fallen to right now 1.473%? is there a warning light flashing that we just don't see yet? and if anybody knows, it's jim grants who's been around for 38 years and hundreds and hundreds of thousands of investors hang on his every word of his newsletter. all right, jim, the federal reserve is still behaving like the economy's facing a five-alarm fire. i mean, the fire hose is still pouring in huge amounts, $120 billion per month of stimulus, combined with near the-zero interest rates. where's the emergency here? >> well, the emergency, liz, may well be the fire itself. to my mind, every indication that inflation is not only a possibility, butst it's, in

fact, a reality. the question is how long it sticks around what makes this so important is equities, junk bonds, crude oil, real estate. ahead on the level of interest rates and and to the extent thae fed is squashing or suppressing interest rates, these guidance are a little bit fake. liz: okay. but what is the purpose? explain to me the purpose of this $120 billion in bond buying to stimulate the economy per month? we can show you the breakdown right now. mortgage-backed securities, treasuries. the fed continuing to buy in a all of this stuff. you have to tell me what is the purpose of stimulative actions when we aren't quite -- we are quite stimulated, are we not. >> we are, indeed, stimulated,

liz. the purpose of the mortgage buying was to give a jolt to the housing market. but the housing market is jolted, up by 14% year-over-year. so the theory had been that the fed would be tending the restoration of a normal job market and a pre-pandemic level hiring. but nothing says that prices can't go up regardless of the job market, and i think they are. and the fed is going to have -- [inaudible] between its determine mission to strengthen the market -- determination to strengthen the market versus its disinterest -- [inaudible] liz: well, jim, we're looking at the home builders. they're up double-digit percentages over month after month. it's just unbelievable. and, you know, james bullard, the held of the st. louis

federal reserve bank, was on fox business this morning, and he pretty much said that all of this data point to the fact that we need to fire up the tapering trucks and start cutting back on these bond purchases. here's what he said, and then i'll have you comment. >> we have a booming housing market. it's not at all clear that we want to be feeding into an incipient housing bubble. we have really a rapid a pace of purchases in an economy that's already growing 7% as fully recovered in gdp terms from the pre-pandemic level -- to the pre-pandemickic level. pandemic level. liz: okay, jim. do we need to -- now the tapering, does the fed need to announce tapering at the next fed if meeting which is in august? >> at the prior fed meeting, it should have announced. but notice he did clear his

throat and say we may begin to at some time talk about beginning to talk about tapering. the problem is that we have the highest equity valuations except for one exception or two, we've got the lowest interest rates, we have the most determinedly easy cash, and the picture doesn't quite jibe. why the is the fed pointed on it? i don't know. but they insist on doing just that, and i think the fed e is basically admitting, through the voice of james bullard, basically admitting to malpractice. liz: malpractice. okay, i think that's a headline. and i also think it's a headline that you have just said that the fed should have started tapering at this most recent meeting. all right, so what is the investment play here, jim? and as you look at it, treasuries look like they're dead money. >> well, treasuries have been

very living money for 40 years, and i think that's one of the reasons why -- [inaudible] you know, interest rates in 1981. people are have this muscle memory of falling rates and ask is rising bond prices. but to my mind, clearly at present priority is the defense of purchasing power. that is, to get out in front of what may well be a consistent and and capital-destroying inflation. i know the -- has been saying it's certainly going to happen. but, you know, we are in this inflationary environment. the investment fund used to be marinally safe, now -- marginally safe -- [inaudible] so it is a world on fire, and the fed pouring on the flames the gasoline. liz: wow. jim grant sounding the alarm right here on "the claman

countdown." something tells me that we are definitely, jim, going to see this interview watched multiple times. what we're going to do is put it up on foxbusiness.com as soon as we can turn it around. but you're basically saying that this could truly be an issue. what do you make of the equity markets as they charge ahead at this moment? can we shift the prism to that? >> i think they're listening to the chairman of the federal reserve board and are quite correct in judging -- [inaudible] almost anything rapid than tighten at this point. i don't know, to me, the thing is the level of interest rates. creditors are accepting more or less without protest significant less interest income than compared to the rising rate of

prices. so negative real interest rates are on offer. nobody's walking around with big signs outside the federal reserve. it's quite a striking -- liz: well, you have, you've just kind of done a verbal sign right here on fox business. jim grant, grant's interest rate observer, we thank you very much. still though we are looking at session highs for the s&p 500. the dow is up 131 points. -- 131 points. as if opening a brand new location in the middle of times square in the middle of a pandemic wasn't enough of a risk, krispy kreme now taking the plunge back into the markets just as the plant-based company catches fire. the ceo is here on his plan to battle the clean eating boom starting on this first day of trade. closing bell ringing in 50 minutes. you're watching "the claman countdown." ♪ ♪

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publicly-traded markets. that is the largest number of companies to list in a single week in nearly 17 years. krispy kreme has just begun its first day of trade. the doughnut chain is on a sugar high, up 19% as we head into this interview. wow, that makes its second run at going public since delisting back in 2016. joining me live from the nasdaq, ceo and president mike tattersfield. mike, you've got to be on a sugar high with this investor response. a gain of 19 right now. but priced at $17, shares are below the 21-24 level. did you leave money on the table here? >> think about it, it's a great day for krispy kreme. it's an 84-year-old brand, and we've become a public company again, so we're really able to do that because the work that the team did in the last five

years building and transforming the brand, the culture and fundamentally changing the business model so we actually do fresh doughnuts, that's where we focus on, to where the customers are. and we use these amazing shops like the ones in times square. we have the production there, you take that to where the customers are, and you really build a great business. that focus over the past five years, we've doubled the revenue. and is so when you think about when we have that discussion with our investor base and they see the growth and see how this channel model's working, we're in this for the long journey. we bought the company at a billion dollars, and as you roll up today it's at three times value, right? so you can see the growth there. and we're rial into the journey -- really into the journey. it's a high quality investor base that's with us.

they see the potential in the u.s. as well as the globe. liz: what amazes me as the forty of july dough -- fourth of july doughnuts, i'm holding up a box of them. and what you guys are now starting to do this which crust by creme did not -- krispy kreme did not do before, were themed doughnuts. what has this done? you guys have had the highest sale during the pandemic years. >> we did. so you hit on a really interesting point. we have about a two and a half time incidence ratio. we grew that 20% last year with really interesting -- we have focused the business on occasions and dozens. so it's really -- and we do that because people share our doughnuts. and so, and they gift them as well. so when you drive the innovation around the dozen around occasions, whether it's fourth of july, whether it's mother's

day, we also start building a gifting business. and in case you didn't know, about a third of our dozens business is actually gifted. our customers are used to that. that shift to cautions really worked, and we learned it really worked globally, right? because you have an accessible price point that people use for celebration and birthdays too. and now what we've done is starting to really focus on the doughnut shops. and then we make them, then get them to access points where customers are. that's the difference. very different model. liz: i saw this headline, mike, i saw this headline reading in a couple of days beforehand that said wall street might not have an appetite for a sugary-focused company at a time when clean eating is so big. you know, we look at beyond meat, impossible foods and all of the health-driven moves right now whether it's sprouts, whole foods, amazon buying whole foods, and yet you have defied those headlines.

but on the longer-term basis, sweet between is going to go pluck. if an investor can only choose between their stock and your stock, how are you going to keep investors invested in you? >> if you think about it, customers are always looking for a sweet treat. that we know. they just want to make sure they're worth it. what our motto is that's pretty unique, we don't really focus on the single-serve sweet treat occasion, we focused on the dozens. so so that whole model where people gift doughnuts, shower the doughnuts, celebrate with the doughnuts, in fact, we compete with flowers at times on mother's day, right in so you can start to get the business -- liz: right. >> it's a different model, right in so it's beyond the food piece. people want to connect with the brand. we'll continue to focus on what we do well, which is doughnuts. and we've seen, again, we grew at 20% from '19 to '20 just

focusing on those occasions. liz: you know, your operating income did flip rather dramatically because you trying to reabsorb a lot of the franchises of crust by cremes -- krispy kremes. what's behind that focus and strategy? >> so think about it when i said that whole transformation with the brand and the culture and the business model. the franchise system in the u.s., you've got a franchisor, franchisee relationship. the majority is one or two shops that really owned a lot of the development rights or the capacity in the largest metropolitan cities in the united states and not necessarily developing. so as we started to really transform the company, we took a controlling stake in the majority of the franchisees, today it's about 85% controlled today by us, and what it allows us that's where the doughnuts are produced. so think of us now as a branded

doughnut company where we make these amazing doughnuts which you know you can walk in and get them hot with the hot light or see them through the glaze line and then build the model to how do you get 'em to customers, whether you're going to do it at a fresh shop where you deliver fresh doughnut it is once or twice a day, the e-commerce model which is significantly growing, and we also deliver daily to the wholesale chain. select grocers, daily, fresh. so that psalm doughnut experience -- same doughnut experience is the same. and that's a big shift in the model. liz: well, this doughnut experience right here is going to probably disappear due to a few tiny human mice that are upstauers. [laughter] thank you very much -- >> share, right? thanks, mom. liz: mike, good to see you. your stock up 19.25% right now

as we speak and climbing. thank you very much. we'll be speaking to you soon. >> really appreciate it, and i thank all the krispy kremeers that do an incredible job. really good the connect again, liz. appreciate it. liz: yep. take care of those employees. so we're talking about cough fear, right coffee, doughnuts, what a great match, right? how about coffee meets bagel? the cofounder of one of the most popular dating apps on the planet is here on america's upcoming so-called hot vax summer and how the breaking news this afternoon on the delta variant may drive business to her site. whew? because she's got -- why? because she's got a secret weapon that they were the first to do on their site. closing bill 38 minutes away. s&p up 21 points, nasdaq up 10. everything in the green on this first trading day of july. ♪ ♪ rage customizer tool?

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liz: fox business alert, it's an ence performance for two of yesterday's biggest market debuts. okay, don't get blown away here. this is unblooivel. china's ride-sharing giant d can idi which yesterday jumped more than 38% but closed up -- 28 percent but closed up only 1% are now jumping 16.a 25% after the ftse, yes, this is the british financial times stock exchange index, hit the gas on the didi's inclusion into its global enty cease. getting punched higher now. the skies are quite clear and sunny once again, day two for clear secure. second straight day of moving higher for the airport security and biometric titan, closed out its first day of trade with a more than 39% -- 29% gain.

ticker symbol you a big win, and chip giant micron not in the psalm field at all, sliding this hour in a case of look what happens when you sell one of your u.s.-based factories amid a global check up shortage. despite blowout quarterly results, the sale of its he lehigh, utah, factory to texas instruments is weighing down micron showers to the tune of about 5.5%. micron, by the way, the worst performer on both the nasdaq and the s&p right now. kanye west filling in the gap. wells fargo today predicting that the retail chain's clap -- collab with the yeezy brand could roughly translate to $3.8 billion. and if preorders for the gap's first yooz city item which is called the round jacket which sold out in just hours of its online drop, if those sales are any indication, wells far bow's

new $45 price target on shares could be right on the money. for now though gap is up about a quarter of a percent to 33.74. let's flip it over to incentive i aye's, the tiffany's of canada. jewelry retail berke's of canada shining bright like a diamond as it reopens all its canadian stores for in-person shopping. the mgen markle favorite from her time living in vancouver while working on that show suits, is trading up 17% right now. yes, it's $2.75, but we wanted to point it out because our neighbors to the north have some interesting company that we like to keep an eye on. birks moving higher by 17%. tiffany, of course, was bought by parent lbmh. it's down three-quarters of a percent right now. all right, you would think that that little blue box or trips to birks could be the eventual outcome of the so-called hot vax summer that's coming, but the cdc is pouring

cold water over it this afternoon at the white house press briefing on the pandemic. the covid czar announcing that the covid cases in the united states have jumped 10% this week alone driven by what the cdc called today the hyper-transmissable delta variant which is already proving to be a huge threat to those who are not vaccinated. it comes just as singles ready to race back out into the world are flooding dating apps. one in particular is garnering massive increased volume. coffee meets bagel, it's fast becoming the hottest dating app in part for one unique aspect involving the pandemic. joining us live, the cofounder and chief dating officer of coffee meets bagel. great to see you, thank you very much. to this breaking news about the delta variant and the fact that the white house and the administration going to send out new teams of people to try and figure out where the hot so spots of the delta variant are, your dating app was the first to

let users share vaccine status. what kind of increased interest have you been seeing since this highly contagious delta variant began rearing its head? >> i mean, this vaccination and covid-19, we knew that it was a very serious topic for our daters for a long time. we've been surveying our daters consistently since covid-19 started in the last year, march, and time again and begun the majority of our daters -- and again over 80% of our daters have said if their dates don't take covid-19 seriously, then it's a deal-breaker for them. i think the news coming out today is truly something that daters have to keep in mind. the reason why we actually started adding the vaccination profile badge in the our profile is because since last year, october, we've been seeing more and more mentions of the word vaccine on our profile and chat

clearly indicating that it's a topic that is very important to our daters. in fact, we saw about a 220% increase in the mentions of those words. and we also knew that it was a topic that's a little bit sensitive for people to be talking about, particularly with people you haven't even met, right? hey, what is your vaccination status. but it is very important topic for our own health and for public health to be able to talk about that which is why we were the first ones, first dating app to add our daters ability to express what their vaccination status is including, you know, if they don't plan to get vaccinated. that's an option there as well. liz: talk about your numbers, your subscriber numbers, your customer numbers of people, the daters who come on the site and what you've to been seeing since the lockdowns were lifted. and we're seeing this reopening. i mean, obviously, there's a ton of competition out there. bumble just went public, you've got match group which ownses

tinder, and they're all trying to move forward too in many different ways. >> yeah. liz: so how do you stay relevant when you've got bumble, for example -- oh, and by the way, new dating start-ups in the last two years, something like 50 of them. so what are you guys doing to stay ahead of the pack in. >> yeah. so just to answer your first if question about what covid has done for our numbers, well, when the onset came on, everybody was freaking out, right? so we definitely saw a dip in our sign-ups. if you were somebody who was dating, that was probably not the first thing you were worried about when you were thinking about your health, your family's health, your job. so we went through a rough patch. we started seeing some increase over time as people kind of got adjusted. this quarter, because of of the vaccination rollout and the excitement around the hot vax somewhere, we've seen a 30% increase, so that's been really,

strong. it kind of ebbses and flows depending on what the covid-19, you know, capitulation is. now, you know, when we surveyed our daters last month if, about 6,000 daters, already 90% of them were feater fully vaccinated or at least partially vaccinated. so it's been a widely adopted, and because of that people are feeling a lot more optimistic about dating. now with this new strain, it's going to throw a little bit of a wrinkle, but that's kind of how it's been on the business side. on the longer term, answering your question about how do we actually stay relevant with the competition, cough of fee and bagel is not an app for every single that dater. it's really for people looking for long-term relationships, truly a long-term, genuine partnership. and covid-19 has been really good for that in that it's actually made a lot of daters think harder about what they

want in a relationship. liz: yeah. >> yeah. like, a lot of people have told us they want, they're thinking harder, and that are more open and honest about what they really want in their relationship. liz: okay. well, we've got to end it there. with all the breaking news -- >> okay. liz: coffee meets bagel. please join us again, i bet you guys are going to go public one of these days. [laughter] we are coming right back, don't go away. a lot of green on the screen, but we pair it with breaking news, hutch more ahead. ♪ ♪ no one likes to choose between safe or sporty. modern or reliable. we want both - we want a hybrid. so do banks. that's why they're going hybrid with ibm. a hybrid cloud approach helps them personalize experiences with watson ai while helping keep data secure. ♪ ♪ ♪ from banking to manufacturing, businesses are going with a smarter hybrid cloud, using the tools, platform and expertise of ibm.

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prowl, get your resumés out, for a head of crypto to make it happen. bitcoin pulling back by 5% today. it's below $33,000 at the moment. but this -- [audio difficulty] crypto payment process. in a fox business exclusive, we bring in rocket fuel blockchain ceo peter jensen. peter, it's almost as if you really can't have one without the other. it's great to have cryptos, but you need sort of the venues and the roadways, the electronic roadways, correct? >> correct, that's exactly right. most of the commotion around cryptos so far has been as an asset that you can invest in just like people are buying swiss z banks and what have you. what we're excited about, and i think this story's all about, is how can we use digital currencies as a technology to make our monetary systems more

efficient, more secure and easier the use for everyone. liz: well, what did you make of this use of stevie cohen? he is a massive player. on the one hand, you could argue he's a little late along with the rest of these old wall street guys, but as you talk about him hiring a head of crypto, what does that tell you about where we stand in the zeitgeist of this emerging technology, this emerging currency? >> i think more and more people are starting to see this as a technology, as i mentioned earlier with, right? you see some of the big venture funds out here in silicon valley, just announced the $2.2 billion fund, i think you're seeing the same thing. businesses and technologies that can change many things, just like the internet could change and did change many things at the end of the '90s. which cryptocurrent is i's going to be the one? the cryptocurrency's going to be the one in it's hard to

determine. that's probably why he's hiring this person. he probably wants to hedge his bets and hope that some of the ones that he nick picks are the ones that actually will take off. in terms of, in terms of realization -- liz: well, peter, make a prediction. you know, if you talk about how many typewriter companies there used to be, hundreds, right? how many car companies in the u.s. there used to be, and they eventually winnow down to the winners with the competitive moats as warren buffett likes to say. >> yeah. so i will tell you my prediction first in terms of the current cryptocan currencies out there. i agree with you, it's going to be reduced to a small amount. and the ones that are really going to make it are the ones that are being used for something.

like, for example, ethereum and others. in general, if you think abouts assets that you invest in, if it's being used for something and you can use it for something, it holds its value. if it can't be -- at least that's how i think about it. the other prediction i'll make is that central banks already this year, china has already said they're issuing a a tall version of their chinese yuan, and they've already said they're going to roll it out this year. and as more and more countries are starting to do that, i think from a youaltarian -- utilitarian perspective, that's the thing that you and i are going to be using. when the u.s. issues a digital version of the u.s. dollar, that's the one most people -- liz: well, that's -- >> they don't want any issue with volatility. liz: okay. well will that kill bitcoin? >> no, it -- i don't think it'll kill bit be coip because bitcoin has so much momentum.

but i think bitcoin will be more as something you invest in as ab asset, and that's great. people have been investing in swiss francs and other currencies. but i don't believe that it's going to be used as a utilitarian currency because it's too volatile. liz: peter, we've got 30 seconds. can you make your prediction on the price of bitcoin for the second half and where it goes? the occupy or down, and how high up? will we reclaim 64,000? >> it will go up, and it will probably hit -- well, definitely 60,000. that's my prediction, probably 100. liz: 100,000. okay. all right -- [laughter] we'll bring you back -- >> you asked for it. liz: peter jensen, great to see you. thank you very much. >> thank you. liz: all right. it's the moment the markets and the reddit rebels have been waiting for, robinhood's s1 filing.

hey, guess what? warren buffett was dying to see this thing too. and wait until you hear what the trading app's biggest threat going forward. the s1, robinhood and charlie gasparino e who breaks it all and cracks it open next. and cano health founder ceo marlow hernandez, he. grated to miami at the age of 9, he's the ceo of a publicly-traded health clinic chain. he also went to medical school, by the way. yes. he's built his empire that's been disrupting the entire health care industry and providing affordable health care for all. and when i say affordable, barely. i mean, it's unbelievable how end cheap he offers this for, and it's good quality. how he went from immigrant to miami medical mogul available on fox news pod costs or wherever you get your podcasts.

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♪ liz: the favorite trading platform of the reddit are rebels finally unveiling its grand plans to go public. online brokerage robinhood says it will trade under the ticker symbol hood. it'll be on the nasdaq. in a new filing that sets the stage for the trading app's initial public if offering which could value the company at a cool $20 billion. charlie gasparino's been way out in front on the ipo news. i am dying know what's in this s1. and you know during his annual shareholder meeting, warren buffett said he couldn't wait to see it either. what's in there? >> well, it's not exactly a

dimestore novel -- liz: playboy? is it as good as playboy? [laughter] >> you're looking to get me in trouble, aren't you? if you're into financing, remember, a couple days ago we did a story about the settlement that robinhood agreed to with the financial industry regulatory association, finra, and we said it did so because it was planning its ipo, and it didn't want to put in what's known as the s1, the prospectus. they settled it, and out comes the prospectus, so we were pretty much on the news with that, liz. it's really fascinating stuff, and it's hard to summarize in just a few minutes. i'll give you some of the highlights or low lights. robinhood says the end of the pandemic could hurt its business model now because users aren't stuck at home anymore. when i saw that, ooh, that's very interesting. [laughter] you know, the pandemic, obviously, was good for

robinhood. we reported that. but they list that as a risk factor. it's very interesting. any regulatory changes or bans made to the system known as payment for order flow could negatively impact its revenue. if you read the prospectus, about 80% of the money they make comes from selling their buys and sell orders to companies like citadel which matchedded those trades. that allows you, the end user, to trade free, right? robinhood's a free app. it's coming urn some pressure right now. people say that there is a lot of funny wiz business that goes on, that citadel may be trading ahead of customers and this and that. there's really not a lot of evidence of that, but it's getting a author thorough -- a thorough review by the securities and exchange commission. and they also put to make any changes, that could impact their business model. also interesting to note, they just, i believe, started turning a profit at the end of last

year. so when the pandemic really hit if people were at home, that's when they started making a lot of money. they admit to previously being under investigation by the sec and finra, as we pointed out. and they expect -- they say this -- more scrutiny to come. very interesting. robinhood said 17% of its total revenue is now generates from upto currency transactions. so, obviously, it's better coin or ethereum, it's dog -- what is it, dogecoin? if they fall out of favor, if that bubble gets burst, that's going to negatively impact their earnings. that said a, with all these caveats and provisos, i think this is going to be one of the most anticipated ipos in a while. they're going to open up a chunk of it, i read today something like 30% of it, to small investors who want it. institutions should want it. so so it'll be -- i can't imagine this is not going to be a successful ipo. but let me tell you something,

liz, lots of caveats in there. buyer beware. back to you. liz: yeah. i remember seeing a lot of caveats in weworks. two total different things, i know. charlie, good stuff. charlie gasparino. we're coming right back with our countdown closer's all-american picks ahead of the fourth of july weekend. ♪ ♪ uno, dos, tres, cuatro! [sfx]: typing [music starts] [sfx]: happy screaming [music ends]

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♪. liz: as you gear up for the fourth of july holiday our countdown closer says she says all american names you should add to your portfolio. let's hear them. it is not that they're necessarily all rah-rah but they are american, are they not? >> yes, liz, they are. listen investor have been talking about american express. basically a reversion to the mean, right? we got hurt last year with the

closing of all of the businesses in the u.s. now services are coming back in a big way. we have american tower. it is a back ended way of playing 5g. investors are talking about it. we think that is the place you want to be. liz: you're looking at american express's chart year-to-date. you would be buying it at the high. are you okay with that? >> in terms of investors it is trading to a discount to its forward growth rate. you heard in the last presentation management gave, they see improvement of people bookings they are up 50%. if you know yourself you drive go anywhere you are seeing a lot of activity. liz: american tower is real estate select spdr fund. would you also recommend that fund? real estate has been certainly down, but coming back up and out, right? >> well i mean, if you look liz at any of the real estate out there, whether it is retail.

whether you're looking at housing. if you're looking at businesses, people are coming back. we know that when we get into the labor day period. you will end up seeing people coming back to offices at least in new york city. that will step up revenue growth. there is a lot of businesses that had closed looking to start up again. we think another reversion to the mean. we would like to be there in terms of an investors, people we speak with, you know, really like the space at this point. liz: gus, in about two weeks we kick off second-quarter earnings season. any red flags you see? anything that gives you a little bit of a pause about going all-in on equities? >> right now, listen, we're looking at earnings. they continue to move higher for the s&p 500. usually markets top out when earnings top out. we don't see that we think that will be revisions higher. you end up having strength across the board, services which lagged are coming back.

commodities are up. obviously there are always risks. right now we're feeling good. you came out basically of a recession. it was short-lived. you're looking at movement moving higher. it will continue. [closing bell rings] liz: we end the session at session highs, folks. six in a row. record closes for the s&p up 22 points. second best first half -- ♪. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. so there is a bunch of big stories breaking today. we'll try to cover them this evening including a supreme court decision to prevent so-called vote harvesting which is really a crooked process used by left-wing groups to stuff ballots and rig elections. the supreme court sided with arizona on restricting voter harvesting. we have arizona governor doug ducey in a few moments to talk about ending voter harvesting as