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tv   Cavuto Coast to Coast  FOX Business  July 2, 2021 12:00pm-2:00pm EDT

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the fourth of july. well, the answer -- if you got this, you're good -- the answer was john adams, thomas jeff and james monroe. adams and jefferson both died on the 4th of july, 1826, and monroe died on july 4, 1831. so on that the very uplifting note, i'll turn itover to hi good friend, neil cavuto. neil, take it away. neil: you know, i covered the signing of the declaration of independence -- [laughter] those guys, they were cut-ups. finish thank you, my friend. have a wonderful and a safe weekend. all right, ashley, we're watching the same thing you are, some records on wall street. the s&p at another one-year and the dow up better than 111 points all on this much better than expected jobs report. we're going to get into that in some detail. we have some orr goodies including the guy who heads up the virgin orbit, that's, of course, richard branson's venture. he's going to be going into
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space. dan hart on what's at take and how many thinks he will beat that other billionaire. by the way, where's elon musk on all of this? we'll see. we'll also be giving you an update on not only what's happening this florida, but how they're dealing with a potential hurricane that seems to be barreling in on the very place where the rescue is going on complicating efforts, to put it mildly, to find survivors. but back to the issue at hand with the economy and the jobs report that stunned on the upside and maybe could be telegraphing some better news down the road as many people get back to work. edward lawrence has a lot more on that. >> reporter: yeah, neil, 850,000 jobs added back to the economy in the month of june beating, as you said, expectations. now we're looking at an average over the last three months of 567,000 jobs added over the past three months on average each month.
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if you break it down, there's some winners and there's some losers in this in terms of segments. leisure and hospitality added back 343,000 jobs. still down 12.9% from february of 2020. retail trade added a lot of jobs. manufacturing up 15,000 jobs, still down about half a million jobs from february of 2020. mining added jobs but construction, look at this, lost 7,000 jobs. health care lost 12,200 jobs. president joe biden saying that this is the gains, at least, all because of his plan. listen. >> the strength of our recovery is helping us flip the script. instead of workers competing with each other for jobs that are scarce, employers are competing with each other to attract workers. that kind of competition in the market doesn't just give workers more ability to earn higher wages, but it also gives them the power to demand to be treated with dignity and respect in the workplace. >> reporter: now, it's very interesting, the jobs data was collected in the first two weeks
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of june. that includes june 12th. that's the date that four of the states on your screen ended the federal plus-up of $300 a week. june 19th another 7 states of the 26 announced ending the benefit, that's not in the data yet with. in indiana, on a side note -- many economists say that the jobs beat on hiring is because of the threat of ending the extra $300 a week in payments for unemployment from the federal government. however, labor secretary marty walsh is arguing that people are not taking jobs because of covid. >> i think that we will see, hopefully, hopefully we will see more people coming into the work force and getting jobs after a labor day. a lot of that is due to the fact that more and more people are getting vaccinated every day. >> reporter: and this is the disconnect that the white house is going to have to figure out. you've got 9.5 million people who are unemployed in the country, and you've to got about the same number of vacant jobs. and there's that disconnect that
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they're trying to figure out how it matches together. back to you. neil: all right. thank you very much, edward lawrence, on that. my next guest has another theory on what is preventing people from looking for jobs, that they're sidelined, a lot of them, creating cryptocurrencies. the careerbuilder ceo, it's an interesting argument. when you start thinking about it, it makes a lot of sense. i'm not saying exus collusively -- exclusively, but it could be a factor. >> it's definitely one factor. there's many at play, but even if you look at what's happening with equities that in the last five months there's more money that has been put in equities than cumulatively over the last 12 years. there's definitely some side hustles that are happening, but it's broader than that, neil. war seeing retirement -- we're seeing retirement changes have happened. 11% increase in are retirement. with covid there's a population are portion that said i'm
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removing myself. we're seeing 7% increase in people staying home to take care of kids or eller orally. we're see -- or elderly. we're seeing that moving is also having an impact. in addition to unemployment benefits and everything else, it really is multi-variable. neil: let's talk about where we stand right now. i think, and you know these numbers better than i, but i think we're about 6.8 million jobs shy of what we had prior to the hitting of the pandemic. you could make an argument that by september when a lot of these, the federal extended unemployment benefits stop, you'll get a good chunk of them by then. but when do you think that gap will be made up? >> it's going to take a little time. what we're seeing is very unique for labor market recovery. you mentioned there's 50% still more supply out there than we've had previously. there's 30% more job postings. companies are looking for work, and yet we're at a 48-year high of unfilled openings, and we're seeing about 25% versus
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pre-covid three-year average of applicants looking to apply. and one of the things that you said is unemployment benefits, how is that taken into account. when looking at the data of the a 25 states that have stopped the extended unemployment benefits and those that have not, we're actually seeing some interesting data in that those who have not stopped the extended unemployment benefits are seeing higher application rates than those that have. so it's going to continue for several more months at least. neil: how does the whole hybrid thing figure into this? a lot of people are eager to return to work, but they want it on their terms. you know, not every day, i want a mix, you know, at home versus at the office. how is that factored in? >> yeah, it definitely is, and we're seeing it it live. we're seeing it in retail jobs. we're seeing that 50% increase in quit rate on retail jobs and orr front-line are jobs -- other front-line jobs where people are
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looking to rotate out of the industries and jobs applying their skills into roles that allow them to have more flexibility. work from home has a 200% increase for surgeries in jobs. employer -- searches in jobs. employers are really advertising not just their pay rate and their benefits, but what their flexibility is for the work force and the environment in the which they potentially want to draw in candidates. neil: great catching up with you. hope you have a wonderful and safe july 4th weekend, careerbuilder ceo. i want to explore this notion that it isn't only the jobless benefits that are keeping people back from working, but many are busy trading bitcoin from home. jared levy with us, mitch rochelle. mitch, let me begin with you on that notion. i'm sure at the margins it might not be senate enough to dissuade people -- significant enough to
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dissuade people, especially when you're losing money on bitcoin of late are. but what do you think of that, that a lot of people are preoccupied with that, there's no rush, they figure? what? >> well, neil, we just totally overstimulated the economy. there's too much money sloshing around that's causing inflation. it's causing a lot of disruption, and the disruption that we're talking about right now is in the labor force. when you have motivations because you have savings because you haven't spent money and you're at home and people are doing things like day trading, playing in bitcoin and the like, the motivation of getting up and getting on a train, you know, at 5:00 in the morning like i did for 30 plus years just doesn't seem so enticing. whether it's the hybrid model, there's all of these new alternatives that just don't make going to an old old-fashiod job so appealing. neil: you know, jared, whatever the motivation is, you know, employers are offering all the incentives they can to get -- even when it comes to kids to
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work. $1500 bonuses at burger king and wendy's to get them in. and we're seeing this playing out again and again. surely, that has got to close this job gap we have from the height of the employment picture before the pandemic. what do you think? >> okay. so you've got to remember this is the biggest social shift we've seen in decades, right? i mean, you took, you had people leaving places like new york city and other metro areas this droves to either find their nirvana somewhere in mid america or move back in the with their parents because things aren't good economically. what that did was lower everybody's cost. basically you've got a bunch of people out there, bunch, millions of people with lower costs to carry, they got stimulus, moratoriums on evictions, on foreclosures. so as that stuff starts to wear off, people are going to start returning and saying, all right, i've got to get serious, you know? when all this runs out.
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because the truth is cryptos, it's a dateway drug. i have so many people over -- gateway drug. so many people, oh, my gosh, my account's down 50%, what do i do? heck, i don't even know who you are. [laughter] so i think they're going to -- yeah, they're going to get a rude awakening. and, again, as these moratoriums wear off, it's going to be a gradual move back into the labor market. but this is great for america because all these companies are offering these great benefits that you and i when we were starting out, i mean, we 'em couldn't even dream of walking into a burger king and having them provide us with extra money to care for our kids. pretty interesting, what's happening now. neil: it is, it is. i'm going to tell mitch to stop calling you, jared. you don't need that grief. i am curious of what you make of how the markets respond to this. obviously they say steady as she goes, wind at our back, yada, yada, it's confirmed, you know,
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over sticker prices that people are paying for cars. the demand is there, the robust, you know, buying binge remains, that's been propelling these markets. that was the sign at the first half of the year. so far going into the second half of the year. how does this all play out? >> i think that the taper tantrum that we potentially saw brewing in the last, you know, as soon as the cpu and the pce -- cpi and the pce reports calm out, i think that's been ebbed a little bit. it was not too hot, not too cold can, maybe just right. labor participation wasn't as good as it could be. you know, we've seen this bad news is good news reaction in the market, and i think that this goldilocks jobs report was just right, and the market liked it because maybe the fed isn't going to taper as soon, and the markets, quite honestly, are addicted to all of the cheap
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money and money printing. so for now, i think they liked it. but the proof is going to be in the pudding as we see what inflation looks like in the months to come and what gdp growth looks like in the months to come. neil: got it, you guys are encyclopedias. the federal reserve unloading all these treasury notes, mortgage-backed securities, municipal bonds, and it was buying them up to force rates down. we just don't know how that process will go. jared, i'm beginning to wonder even when that starts given this market environment, i don't know if it will be such a cataclysmic event. what do you think? >> i agree with you. i don't see that -- listen, we've got a lot of experience talking about, you know, the fed e and over the past several decades we've been through some things, you know? the great recession wasn't that long ago, and they figured out certain ways to massage that. and, again, i've got to reiterate these, the money that's pent-up on the sidelines
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right now and these folks who are going to be getting back to work, a, remember, they're now going to be gaining extra income. companies are going to benefit because they're going to have workers to make things happen. i think with all of this momentum, each if the fed does start to taper, and they're going to have to, i think we're okay for the next six months to a year if not more. we've got enough to kind of keep going. and, p.s., earnings are showing that. if people really are scared of covid still, and i'm talking about masses of people which i don't think they are. i think it's just people, you know, not going back to work because they have money saved, i think we're okay in the longer term here. so i'm not so scared of the taper. neil: all right, sounds good. guys, don't wander too far. you can see from the lower portion of your screen the dow's racing ahead, s&p is in recorder the over to story again, nasdaq not that far off, although it's been a tougher day than usual for technology stocks. also keeping you abreast of
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weather. right now it is hurricane season, but a doozy is barreling in on florida. wouldn't you know it, not too far from where that rescue effort is going. what to make of elsa and how big a threat she remains, after this. ♪ oh, thunder always happens when it's raining. ♪ players only love you when they're playing ♪♪ liberty mutual customizes car insurance so you only pay for what you need. how much money can liberty mutual save you? one! two! three! four! five! 72,807! 72,808... dollars. yep... everything hurts.
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muck ♪ neil: all right, the july 4th weekend rushes on, and we've got you completely covered on this. rick reichmuth on the crazy weather we're having including a threatening hurricane not too far from florida. we've also got jeff flock keeping track of the higher prices if you're driving, and grady trimble on the higher places you're going to pay if you're grilling. we go to rick reichmuth first on how things are looking weather wise. hey, rick. rick: so this is hurricane elsa now way out just about to enter or entering into the caribbean. became a hurricane earlier today, had been a tropical storm. this is our fifth named storm of this very short season so far. hurricane season just started on june 1st, and here we are already at our fifth named
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storm. this is the track of the storm. just want to point out, i think we're going to be seeing some impacts likely across parts of florida, maybe towards, say, tuesday, wednesday, thursday time frame. a lot of interaction of land masses around cuba, hispaniola, maybe around jamaica, something that could rip the storm apart, is so overall maybe a strong tropical storm making some sort of interaction there in florida. that said, take a look at this, all of our model guidance has quite a disparity here. nobody panic just yet, but it's a good time to get preparations in place. you should be having those ready this time of year anyway, so this is a really good time to have a reminder to get it in place. take a look at this, these are the names for this year's season. already on our fifth storm, this is a hurricane. storms don'tly form where this one is forming this -- genre form where this one is forming. we know we're expecting an above
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average, remember last season was the most active ever seen on record, and we're expecting another buzzy one. in fact, this is the earliest we've seen five named storms. here we are, we see most historically of the activity does not happen now, the far majority happen by the time you get into mid august through mid october. we're already on our fifth storm, that doesn't bode well. that means everybody should be having all of their storm plans in place. neil? neil: real dumb and quick question for you, rick. when they talk about an active storm system, are they referring to the number of the storms -- rick: yes. neil: -- or the severity of them? >> a little bit of both. what we can't predict is will they impact land mass which is really what new of us care about is any impact. you're going to have a calm season with a big hurricane or a strong hurricane hitting the u.s., are you going to have an active season with all of them
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staying away from the u.s. or land? we don't care so much. if you have, say, 30 or 20 storms instead of 12, that's just that many more storms potentially to be interacting with land. neil: incredible. all right, thank you, my friend, very much. rick reichmuth following all of that. whether you're in a hurricane's path or not, the fact of the matter is a good many of you are on the road probably as we speak, probably listening to me on the radio, i hope. even if you hear me, it's better than missing me altogether. anyway, i digress. jeff flock, he's out on the roads,es and he's discovering one thing that you probably realize, gas is pricey and getting pricier. jeff, what do you have for us? >> reporter: well, people don't seem to care, neil. and really what can they do, by the way. but gas prices are on the rise. get to that in a second. but first, the travel, huge travel this fourth of july, especially compared to last year. i think this year we're around 47 million by air and car.
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last year was about 34 million, so that's about a 40% increase. and it's almost as much as we had pre-pandemic. we've got a lot of traffic out on the roads. we're on interstate 55 outside chicago, and it's going to be a record for people driving on this fourth of july holiday. they tell us 43 million plus, can that will be more than anybody even before the pandemic. so we've come all the way back when it comes to travel by car. now, there's the issue of gas prices. yeah, we're going to be paying for it. take a look where we are today, i think we're going to have $3.13, i believe, is the national average today. it's about a nickel more than it was just a week ago, about a dime more than it was a month if ago and a dollar more, almost, than it was one year ago. but as aaa says, as i said at
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the outset, people are traveling anyway. >> early september, next september we can see some relief. that's a typical time when we see demand decrease because schools are back in session, people aren't taking vacations as much. typically, we see gas prices come down a little bit at that point. >> reporter: but at this point they are still, sir, on the rise. as you can see maybe, i'll leave you with a picture of the road. as i said, interstate 55, the stephenson expressway, you remember adlai stevenson, he has an expressway named after him. neil, you covered that election in '52, did you not? the stevenson, eisenhower race? think you did. neil: you know, you were starting as early as this morning, so i suspect you're probably in canada by now. but we're watching closely -- >> reporter: actually, grady trimble invited me to come out to him in naperville for some burgers. i don't know how i got stuck
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driving in a car where the air-conditioning went out while he's out there grilling burgers, but that's what i get for driving a ford. that's all i can afford if. anyway -- neil: well, turn around, he's coming up next. grady trimble is, indeed, on barbecue watch right now. and, you know, grady, it's fast naughting, i know you're in newspaperrerville, illinois -- naperville, illinois, but there's this report out that says your barbecue basket is cheaper than it was a year ago. what are they looking at? >> reporter: it's basically flat from a year ago, but you've got to remember last year, neil, all the meat supply chains were all out of whack, so that drove prices up a year ago this time. if you look at pre-pandemic numbers, it's actually going to cost you quite a bit more to purchase your food for a cook this weekend. we are grilling out here with a fella you might recognize, phil, who was a producer on your show and now lives out here and was happy enough -- and kind enough -- to join us on the
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grill today. i want to show you certain items that will cost you quite a bit more this year. start with strawberries. they're up 22% compared to 2020. chocolate chip cookies, they're going to be up substantially. hamburger buns, can't have a cookout without those. potato salad, boneless, skinless chicken breasts as well. we've got some beer here, i don't know if those are going to cost more this year, but we got 'em anyway. and then grills, okay? everybody was buying grills last year. the grill companies say that is continuing this year. and because of that, you're paying more for it. on average, about $200 more for the average grill. one with of the reasons for that is because they experienced material costs going up as well as transportation costs going up. but phil actually won this one in a raffle, so he didn't have to pay more for it. he lucked out. and finally, fuel is going to cost you more as well.
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propane if, gas, you name it, costs are going up. and, by the way, phil, phil mentioned, neil, that you like, what is it that he wanted? >> the processed meats and cheeses. i couldn't find it, they're all out. so when you come over later, we won't have that for you. neil: well, i do see some of the italian sausage, if i'm not mistaken. but there are only the two of you, and you're two thin guys. there's no way the two of you are going to eat all that. [laughter] >> reporter: that's why we told flock to come. neil: yeah. watch him though, he doesn't lee, you know? he just stays and stays. guys, thank you very much. phil, good seeing you begun as well. again as well. he had such a good time on my show that he decided to leave it. all right, we're going to be focusing on weather, on the markets, and we'll be focusing on richard branson. he wants to beat jeff bezos to space, and he hopes he'll be
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♪ neil: all right, a global minimum tax is one ten closer to reality. -- step closer to reality. we understand that the president has got 130 other countries onboard. want to go to hillary vaughn on how all this is coming along and the fallout it's having among a lot of companies that will have to pay it. hillary. >> reporter: hi, neil. the biden administration really is getting exactly what they want, higher taxes for companies in the orr countries to level -- other countries to level the playing field. they say that this global minimum tax is going to help
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keep things competitive from country to country and avoid companies jumping ship and going to places that have lower taxes. but the details are still fuzzy, and the changes would not go into effect until 2023. treasury secretary janet yellen has really been pushing for this since day one. she wants a 15% global minimum tax, and she cheered the news yesterday saying in a statement: for decades the united states has participated in a self-defeating international tax competition, lowering our corporate tax rates only to watch other nations lower theirs in response. the result was a global race to the bottom. who could further their corporate rate further -- lower their corporate rate further and faster, no nation has won this. but republicans here on capitol hill see it as a sign of a competitive economy. the republicans on the house ways and means committee saying in a statement: despite the fanfare surrounding the administration's foreign tax bill, creation of this global tax cabal is no cause for
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celebration. it confirms president biden's willingness to surrender more than jobs and provide protection to foreign competition, not to american companies and workers. part of the global minimum tax debate was aimed originally at tech giants for other companies companies -- countries wanting companies like facebook and bag google. now this argument has expanded to everyone, not just those op online. but this is happening as the house is waiting for a full vote on six bills that are aimed at reining in these tech companies. but the vote is stalled because majority leader steny hoyer said this week not all democrats are behind it, especially members in california who are thinking twice about breaking up some of their biggest taxpayers like congresswoman zoe lofgren who says this: i don't think they spent a lot of time drafting these bills. some of the measures are embarrassing. i am in favor of making adjustments to antitrust laws, but some of these are radical.
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so, neil, until democrats can get on the same page, the pages of regulation are essentially stalled. neil this. neil: thank you very much for all of that, hillary vaughn. as we said at the outset here, a global tax is one stretch closer to reality. it would start at around 15%, but you know the deal, then they go higher. remember the value-added tax when italy was kicking around that idea? i believe it's north of 21% right now, so that's what happens. jared he are i have back with us, mitch roschelle back with us -- jared levy. mitch, where's this going? it seems to garner favor with a lot of countries that are kind of in our corporate tax income of the woods but not with others like ireland that says, no way, they're not part of this. so where does this all lead us? >> ireland's not and i suspect china's not. listen, the devil's going to to be in the details where we're going to see companies start
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lobbying countries in trying to get carveouts for their business, for their operations. let's remember this, the s&p 500, 50% of the revenue of the s&p 500 from multinationals is earned outside the united states. so i think you've got 500 companies right there that are going to have something to say about it. and i do think if we raise the corporate tax rate in the united states to 28% and we're talking about a global min million of 15% -- minimum of 5%, i don't think -- 15%, i don't think that makes us competitive with the rest of the world. of we're going to lose a lot of jobs and opportunities because our tax rate is almost double the minimum. so i just don't see this working. it sounded good on paper but, again, the devil's in the details. neil: you know, jared, i always avoid trying to play politics on this show here, but when the treasury is secretary was talking about this global race to the bottom, i think it's been
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quite the opposite. i -- obviously, it has strengthened the balance sheets of a lot of companies. it has made them think twice about projections of growth and helped a lot of countries in the process. the pandemic changed the equation, but the fact of the matter is a global rush to cut taxes is a hell of a lot better than a global rush to raise them. what do you make of it? >> yeah, right? first of all, i'm a numbers guy, okay? and it wouldn't make sense for countries to cut the corporate tax to zero. that's a little bit of hyperbole and idiotic, right in you're going to just stop your income because you want companies to be based there? that's silly. another thing to remember what we're dealing with here. you're talking about 15%. europe, 19%. the global average, 24%. latin america, 27 percent. and, by the way, for the countries that don't sign on, okay, they're the one -- let's say they push this through. if you're a country like
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ireland, cyprus, hungary, peru, barbados, if they don't sign on -- by the way, this is a tax that every country needs for it to sign on for it to become a law. that's what they would have to do. for the countries, no, we don't want to be part of it, corporations are just going to go do business there. so it really doesn't necessarily help anybody and, in fact, it creates disturbances. you know, think about all the accounting issues and the costs associated with that. to me, it's a lot of to-do about nothing because there's, again, a handful of countries that are down below 15%. neil: guys, thank you very much. we're following one other news development, robinhood filing to go public. so in a sense, you could buy robinhood on, i guess, robinhood. let's go to charlie gasparino. >> well, i know you're on your to to robinhood app right now trying to get first in line.
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i know that about you, neil. they file what's known -- their s1 became public. they filed it confidentially with the sec to get the sec comfortable with them. they did this a couple months ago, comfortable with the business model which is, as you know, highly controversial; subject of hearings over the way robinhood is turning investments into stock trading into gambling, it's gamefying the whole investing world. robinhood in this s1, that's the prospectus, put about just every personal risk in there to the business model, so nobody is surprised if anything happens. this is still going to be a block buster ipo. people think it's going to be done maybe end of the month of july, maybe next month. let me just give you some of those highlights or lowlights, however you want to put it. robinhood said it's facing as many as 70 lawsuits that could add v.ly affect outcomes --
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adversarilyfect outcomes. a lot of them when they had to cease trading during the whole gamestop mania in january, they had to cease trading because they didn't have enough capital on hand to settle the trades. they're getting sued on a lot of that. they also say that the meme stock mania which has fueled a huge surge in its business and and made robinhood, essentially, profitable this year, that if that ever wanes, that could materially impact their holding. if you look at amc's stock today, it's down. it's giving some signs that these meme stocks, that these are starting to level off. so that could hurt robinhood as well. any regulatory changes, the issue of payment for order flow. remember, robinhood doesn't match its buyers and sellers of trades, it sells that to third parties. it's somewhat controversial to some people including sec chairman gary gensler. he's saying they might be sweetheart deals. robinhood gets paid by these third parties, and that's why
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they allow you to trade for free. gensler's signaled he wants more changes, maybe having to route your orders not to the citadels, that could impact the bottom line are. it settled a finra investigation and, again, it became profitable in 2020 with all this trading of people sitting home. they also mentioned that if the pandemic wanes and people have to go back to work, that could impact the bottom line. neil, back to you. i know that you're trading right now on your robinhood app as i'm talking, buy-sell, buy-sell, buy-sell. neil: you're incorrigible -- [laughter] actually, i'm making italian sausage. ing. >> it's the same thing. there's no difference between day trading and making italian sausage, trust me. neil: there you go. thank you, my friend. charlie gasparino. let's take a quick peek at the stock market here.
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the dow closing in on a record, the s&p is in record or for story. all buoyed by this unexpectedly good news on the employment front here. they were expecting strong numbers, they weren't expecting 850,000 new jobs added to the economy and the fact that the inflation remains relatively in check. i say relatively because if these guys now have a looser definition of what is stable inflation and what is transitory. they're going for stable and transitory. we'll have more after this. when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative, aren't just made for traders - they're made by them. thinkorswim trading. from td ameritrade.
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♪ neil: the rescue effort continues in south florida right now in that condo collapse entering day nine. the latest numbers are, you know, 20 now dead and 128 as yet unaccounted for. they're also battling the weather because this is a big old hurricane not too far off in
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the atlantic. the lieutenant governor of florida with us now, jeanette nunez. governor, thank you for taking the time. how are things looking there? >> well, neil, as you can imagine, it's been a long nine days. we are certainly seeing the effects, the emotional toll it's taking not only on the family and friends, but our first responders, our rescue teams that have been working round the clock. as you mentioned, we've had to contend with a lot of challenges. of course now, facing a hurricane that could potentially come this way. all those things combined are really taxing and taking a toll, but florida's resurgent, and we're to going to continue to push forward. neil: you know, you hit moments like this, governor, where it does hit home when one of the rescue workers himself finds his own daughter in the rubble. can you update us on that? >> sure. it's my understanding late last night one of our own, city of
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miami fire-rescue worker that's been there on the scene since the beginning, unfortunately, they found the daughter. as you can imagine, the entire team, the rescue team that was there, a all of them just really affected by it. they pulled together, they're supporting him, but i can't even fathom what they're going through right now. neil: no, i agree with you. you know, governor, it's hard to say and hope always springs eternal, but as you said, we're nine days into this. have there been any indications of any noise, signs of anything under that rubble that would have you believe there are people alive under there? >> well, obviously, the fact that the fire chief has continued in search and rescue mode gives one hope. with each passing hour, with each passing day, i can imagine, obviously, the agonizing effects to the family and loved ones that are waiting for that miracle, that good news.
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obviously, we want to continue the search and rescue, but there'll come a point in the next couple of days -- we don't have a time frame -- where the hopes will begin to diminish. but at this point they're still in search and rescue mode. and as to which point the fire chief deems based on what he's seen -- they have all sorts of technology, they've got cameras, they're looking for voids which would be the normal place for them to detect survivors, they're going through all of that. obviously, the challenges with the existing portion of the building which is extremely unstable presents further complications for our team. so all of those things combined, obviously, make it very difficult. but until which time they deem they will transition from rescue to recovery, we're going to still continue to proceed with hope really. neil: governor, thank you very much. jeanette nunez, the lieutenant governor -- >> thank you. neil: -- of florida.
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the sleep number 360 smart bed. it's the most comfortable, body-sensing, automatically-responding, energy-building, dually-adjustable, dad-powering, wellness-boosting, foot-warming, temperature-balancing, recovery-assisting, effortlessly life-changing proven quality night sleep we've ever made. the new queen sleep number 360 c2 smart bed is only $899. plus, 0% interest for 36 months & free premium delivery when you add a base. ends monday. neil: all right, to the virus. you've heard a lot about this delta variant. it's kind of bedeviling the world right now. it's a huge problem in places like moscow, all but shutting down parts of asia, and even in this country it accounts for
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most of the new cases that are being reported even though i should stress we don't have nearly as many new cases as we used to. nevertheless, johnson & johnson is saying its vaccine does neutralize the delta variant. no -- thatted had -- moderna had said earlier in the week that the its vaccine handles it. no one knows for sure, but i have a good idea that my next guest has some thoughts on this. dr. kevin campbell. i know we got into it last time we spoke, but i am wondering. it is stubborn. the numbers are not what they were, i grant you, but should we worry about it? >> so i do think the delta variant is a concern, but it's mainly a concern for unvaccinated folks. the vaccines seem to be effective, both the moderna, the
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pfizer and the j&j. but in the unvaccinated population, i think you're going to see it run wild because it is a very efficient virus at infecting and moving from person to person. neil: so let me get an idea where with we stand now. you know, we're just shy of the 70% of the population the president wanted to have at least partially vaccinated. close to half have been fully vaccinated. so the threat here is to, as you pointed out, doctor, those who have not been vaccinated. and there are many who do not think they need to get vaccinated. so what do you tell people? >> you know, i think the most important thing that you can do the for yourself, your family, your children, your parents and anyone else who has a chronic illness is to get vaccinated. these vaccines are a safe, they're effective. we know that they're effective most all strains that we've studied. we know that they're effective in preventing death, they're effective in preventing severe disease, and right now we see
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absolutely no ill effects of significance in the large numbers to getting the vaccine. so i say get vaccinated. neil: you know, the recommendations are can confusing, doctor, out of the world health organization that whether you've been vaccinated or not, wear the mask. l.a. county is saying, absolutely, whether you've been vaccinated indoors and this some outdoor locations, wear the mask. where are you on this mask thing? >> i think that is a completely inappropriate statement. i think there is absolutely no reason that vaccinated folks should wear masks. i think the issue is we need to focus on those who choose not to get vaccinated, because they're putting themselves and others at risk. i feel that as a society we that got vaccinated should not necessarily have to wear a mask if others choose not to. neil: so this push or this concern that's happening in other parts of the world, is it because overall vaccinations are low? i'm surprised that in countries
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like switzerland, they're in the single-digit area when it comes to total vaccinations. is that the issue? >> i believe it is. and, you know, if in the united states we had a preponderance of unvaccinated folks, then i would say mask mandates are very appropriate x that's where we were, you know, a year ago with this virus. but now that we have more people vaccinated than not, i don't think a mask mandate is necessary, and i think it actually shouldn't happen. but you're right, in countries where you have less than 30% of the population vaccinated, i think that is the best tool they have right now until they get everyone vaccinated. neil: got it. dr. campbell, great seeing you again. have a very safe and healthy fourth, sir. appreciate it. all right, a quick look at the corner of wall and broad. the employment data is doing it. there are a lot of concern cans whether we can maintain that, and there are short-term concerns like hurricane season and how disruptive that could be to the economy and marley, well, the -- particularly, well, the
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"cavuto" neil: welcome to the july 4th weekend in the first major concerning a hurricane of the
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season, elsa not far from the florida coast along the caribbean but barreling on florida. the concern is the rescue effort going on around the collapse of that condo. let's get the latest on all of this whether influence from accuweather chief meteorologist, how is this hurricane looking? >> unfortunately when you look at the conditions in the caribbean where elsa is going i don't see anything stopping it from maintaining and hurricane status or even strengthening over the next 24 to 48 hours. the only thing that can stop it is land interaction and the rugged island of hispaniola as we head for tomorrow afternoon. stuart: if this limits interaction with hispaniola
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this will remain a hurricane, move across cuba. ne and hispaniola has a history of shredding these systems then we could be looking at a weakening system. florida will be impacted. the key is saturday afternoon. how close does it come to hispaniola? fit stays far enough south we
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can look at a landfalling hurricane in cuba and perhaps even into florida early next week. >> everyone says this is a preview to coming attractions, very busy hurricane season. is that true? >> everything we have looked at suggests we will be well above normal with the amount of storms. right now the exclusive accuweather forecast doesn't believe there will be as many storms as last year but everything points that it is going to be an active season but the number of storms, while that matters on the scorecard what really matters is impact. how many land falls are looking at? we've already had one with claudette and danny, i should say two and here we are not even through the month of july we are off to an active start
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but also the first hurricane of the atlantic season and we the track is i don't think it is going into the central and western gulf of mexico. this is either an eastern gulf of mexico or storm the curves more toward florida. the natural gas and oil industry right now we think the impacts from elsa will be minimal. neil: we are watching closely, accuweather chief meteorologist. we will be monitoring this at 10 am eastern time and how it could be disruptive to those rescue efforts at the condo collapse in its ninth day tomorrow so you will want to stay tuned for that and the latest updates. passing along what seems obvious, a lot of americans taking to the road but what might not be obvious to some of them is the sticker shock they are getting as they travel. jeff flock has more. >> reporter: i got sticker shock myself. you drive around all day, $3.59
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in summit, illinois, i am down a few courts. i think i hit the right button. anyway. the run up in gas prices around independence day driven by the price of crude largely if you look where the trade has been over 75 hours the last couple days, that contributes to it and tremendous demand out there, a lot of stations not unlike this one that has pumps open. some stations shutdown some pumps because they don't have enough gas to run them all. a twist on it too. folks at aaa, don't panic, everything could be okay, in terms of the prices maybe not
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okay for you because we have the highest gas prices we've had since 2014 and probably going to stay that way but it is encouraging any of us to travel, listen to what aaa folks said to us. >> that tells us americans are not taking that into account for their trip. they have pent-up demand for travel and hitting the road. >> reporter: as our we, something of a holiday tradition. i charge this to the company. i will take a receipt. at any rate that is the latest from chicago travel. there it is. neil: we will trust you. >> come on, you haven't dealt -- there it is.
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neil: there is another one too. thank you very much. we are not encouraging this. that is jeff flock. the problem with higher gas prices is a shortage of drivers, not enough drivers to ship to gas stations like in your neighborhood or on the road and that is adding to this. our next guest wants to do something about this, congress and fry hollingsworth from indiana. good seeing you. i didn't realize that was a factor but it is contributing because we don't have enough drivers period but that extends to those who send gas back and forth. what do you want to do? >> this is a tremendous problem
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in southern indiana and americans across the country. we've got to get more gas from where it is refined to where it is consumed, the truck driver shortage, my legislation which is a bipartisan bill supporting downtown democrats and republicans is a common sense approach to this problem that enables 18 to 21-year-olds after they go through a rigorous safety training program to carry interstate goods on federal highways, an opportunity to lower american energy prices and improve american job creation. neil: what is new? is it over various states you can do this that would include that? >> it is prohibited by federal law for any 18 to 21-year-old even if they have a cdl license to carry any good across state
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lines or carry any good that has ever crossed state line this bill revises that. this bill takes it to her 18 to 21-year-olds going through rigorous safety training program will carry those goods such as gasoline so we can pump and get out on this july 4th holiday. julie: neil: we know notice the trucking companies having the devil of a time finding workers. you can argue this goes back to extended jobless benefits as they are canceling them. they are having a tough time. what is going on? >> extended unemployment benefits holding people from getting into the workplace. they led to a truck driver shortage which is decade old and projected to get worst. the only one is to go to a 4-year institution in history or something else.
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instead of career and technical programs. we've got to revise that framework from parent standpoint and public policy standpoint. the federal government through funding policies for higher education omitted those technical schools and other training programs for adequate funding exclusively four your institutions and that needs to change as well. if you're 18-year-old and looking for a great career that can pay you enough to get by, to do that. neil: many positions, that is not the case. those people, you are quite
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♪ me and you singing in the park ♪ ♪ me and you, we're waiting for the dark ♪ neil: the operative word is patience, heading into nations airports in dealing with security personnel and lines wrapped around entire gates. mark murphy on how you can deal with all of this. you've been this way before. how do you guide people who have no idea, have forgotten because it has been so long since they have been flying. >> the number one thing, you need to know how early to get to the airport to lower your stress level. the worst thing is racing to the airport because you are
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running behind. there is an apps called my tsa you can sign up for, takes two seconds to download. it will tell you every airport in the country and what the current wait time is. i did a check a couple minutes ago and you will be shocked, the longest wait i see at major airports is 15 to 30 minutes and the vast majority, smaller airports, fort lauderdale international, this than 15 minutes and that's not including tsa pre-check which i suggest everybody get. it cost $85 for five years and that is where you bypass the normal line, keep your shoes on and all that stuff. neil: what will the busiest day be? >> you will see this evening will be nuts. the problem is if you booked a while ago you are stuck with those times.
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it is better to leave in the morning, delays can stack up especially there are storms and this time of year that the big problem. we've seen that the last couple weeks. monday will be horrific coming back, that is the actual holiday, the evening coming back is a mess. it will probably be worse for people on the road because we expect a major major record in terms of automobile traffic despite the higher gas prices this year. people are hitting the road in a big way. neil: what is the rule of thumb these days on when you should get to the airport ahead of your flight? >> they say between two and three hours. it is based on your situation. if you have the my tsa apps, it will give the trend, what they expect later in the day and you see spikes where it will go up and there will be valleys. it is a little bit predictive and that is helpful but if i want to have my stress level down, that will be the issue, traffic getting to the airport, give yourself 3 hours, get to the airport 3 hours early. destinations, worst-case scenario you get in, you are in and sitting down in 30 or 45 minutes, grab a bite to eat,
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doable shopping, pick up something for your buddy or your girlfriend or boyfriend or grandkids, take advantage of it because everybody has got to slow it down because we are hyped up about getting on the road and traveling because we've been cooped up for a year and a half but at the same time that is -- 10% because people are stressed. you are seeing air rage incidents going through the roof this year. neil: normally when i see a cinnabon i park myself there and skip the flight altogether and just in the weekend at that but it depends on the airport. >> absolutely. neil: you are the best, thank you very much. 3 hours ahead of time. susan lee on that, managing partner, susan, are you ready for 3 hours ahead of your flight at the airport?
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>> know. i usually get there 45 minutes before hand. i'm the one that holds up the flag and take my luggage off of it but this is great that consumer spending is back in the economy, looking at the stock market, look at apple up one.5% in the afternoon session because meals of gone down, the goldilocks scenario of job creation, wage inflation, disappointed in the tenth of june and people are spending and traveling once again. neil: think about the uptick in prices, improving supply and demand, people chasing not as many goods and services but they are happy to do so and continue to do so. how long is that? >> there is a lot to celebrate, it is going faster than expected, so resilient in the
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face of the adversity and the jobs report was better-than-expected. it is goldilocks like susan said. on the other hand shortages remain everywhere. more open jobs because of crazy policy, gas prices a public over last year. fourth of july looks different and the job market wasn't so strong because any fireworks on the fourth of july, bond market is subdued. a funny reason to celebrate because didn't have as strong a job market and finally the fourth of july is always my favorite holiday but this fourth of july looks different because chicken prices are up 20%. everybody gets rationed one chicken wind. susan gets two but prices are through the roof. you've got to drive their and the fourth of july we have a lot to celebrate, we should be grateful for everything we have. neil: doesn't he sound pretty
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cheap? chicken wings are small. >> that i can only afford two calories of chicken wings? >> as i mentioned it is all the potato salad you can eat because haven't seen price increases and potato salad. there is no independence day on this fourth of july from the fed. the markets will melt up because we can turn anything on savings. as you eat that sausage on the fourth of july, earn 0 on your savings, it will melt up in this environment. neil: on you are found of great news. we talk about you raise a good point how we are feeling, busting out of our homes and won out consumer sentiment
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surveys improve that, people are optimistic and very positive and that could explain what is going on there are concerns the price run-ups stick around and don't go away. there's a limit to that. you talked to a lot of people on that in the transitory camp that this is something that doesn't last long, things stabilize, we've seen it with lumber and see it with others. >> lumber, the crash down 40% but on the 10 year treasury yield, maybe that is all transitory and we've seen the tantrum for this year shot up and doubling in a matter of weeks and if that is the case may be given the wage inflation earlier today we were disappointed in the month of june and june jobs report, what is wrong with inflation anyway? high inflation, i wasn't around then but the best economic
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growth you've seen in decades. since world war ii. neil: let me tell you about inflation. if you want to party, barbecue, thank you very much, neighbors must love larry. one more wing. thanks very much. if you've had it with this planet and larry's parties, you can fly into space and richard branson has a mission for you, virgin orbit handling all of that, richard branson beats all those other billionaires to space. ♪♪ hey mister spaceman ♪♪ won't you placed take me along ♪♪ and i won't do anything wrong ♪♪ hey ♪♪ mister spaceman ♪♪ i mean, put it this way. if i told you i'd been jarring raspberry preserves
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>> billionaires in space, you want to say billionaires in space. jeff bezos was getting all the attention to hop up in space and become the first to do so on july 20th, the 50 first anniversary of the apollo 11 landed on the moon and along comes richard branson to beat him to it if he has his way, july 11th launch plan there. dan art is the guy who runs the company that will make it happen, virgin orbit's ceo, thanks for joining us. how do conditions look for this launch next week? >> i should set the record straight. virgin orbit is a satellite launching company. you are referring to virgin galactic which is richard's human spaceflight space tourism company. virgin orbit put up 7
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satellites two days ago. stuart: excuse me, you had great success doing that and the technology for that. have we had any such unmanned test for his launch along the lines that you had? the worry that this will be very different in that respect? >> again, i am not in the company virgin galactic but i point out a few weeks ago they had a fantastically successful flight test where they went to space. they have been successfully testing their system. neil: the commercial side of it, launching satellites is very profitable and a lot of key contracts, jeff bezos wants the same deal is elon musk. the edge you give people is what? what do you get?
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>> what do we get doing launch the way we do? is that your question? neil: exactly. we are an air launch platform. two days ago we took off from a runway in southern california with twee 7 satellites and their destination was lower orbit and an hour and a half later they were in orbit so we flew out with a 747 aircraft and a rocket under its wing, took it up to 35,000 feet, released it and the rocket did the rest of the work. it is a new way to do space launches. it allows us to launch from anywhere to anywhere but at any time. it is in the midst of a huge transformation that is going on in place where satellites have gotten smaller, more capable and helping us in every facet of the way we live on earth. neil: this is not your kettle
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but explain how richard branson's flight is going to go, the same way, right? launching first on a jet, bunny the jet, don't know the details and then blasting from that into space. it is a different kind of a process but obviously worked a number of times for you. i human or in his case will he be in space doing so? there was an argument whether it is over the 50 mile mark above ground or 60 mile mark, whether you are technically in space. >> that again is not -- that is not a discussion i am in the middle of because we are an orbital space company but from the pictures and everything i have seen you certainly are in space. they are beautiful images, and clearly you get the perspective of seeing the globe and i am
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told by the astronauts that i know that that is a life-changing moment. neil: i am sure it is and for those that launch satellites this way like you were doing, launching satellites into earth orbit, how appealing is that to potential customers? is it considered less risky, more efficient? how do you describe it? >> number one, it is more efficient, so much work is being done, the first stage of flight is at 747 airplane just taking off from a runway. doesn't have the amount of energy we need when you see those rockets taking off. we can take off from anywhere, we are in cornwall a few weeks ago, we met with the prime minister, the plans to make an
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airport in cornwall into a spaceport and build a space ecosystem around that. the whole activity there, almost 80 space agencies around the world. space is a contested environment. our adversaries are experiencing with anti-satellite weapons. the national security community is very interested, to get from anywhere in the world. without everybody watching at cape canaveral. our first launch in january put up 10 nasa satellites, everyone is reformulating how they do space, an exciting time to be in the industry and we are bringing a new technology to space transportation. neil: it is a novel way to do
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this, looking at the space movie, it is the real thing. thank you very much. we are looking at that, up to the impact as things stand on the space industry which is booming again for private ventures, tourist ventures in space, and satellites. successful companies in this area on earth. welcome to allstate. ♪ ♪ you already pay for car insurance, why not take your home along for the ride? allstate. here, better protection costs a whole lot less. you're in good hands. click or call to bundle today.
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neil: entering day 9 of the rescue effort in south florida where the condo collapsed and complicated by a storm coming their way, could be directly their way. i'm talking about hurricane elsa. phil keating following it all in surfside, florida. >> reporter: the death toll here rising overnight, now a total of 20 people pulled from
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the rubble and confirmed dead, 128 remain missing and day 9 of the search and rescue operation and the death toll expected to grow exponentially. searching for survivors and bodies back around-the-clock but their remaining partner tower that did not fall, the part that forced yesterday's 15 our search stoppage out of fears it could collapse, has to come down at some point. >> every night since this last wednesday has been immensely difficult for everybody particularly the families that have been impacted but last night was uniquely different. it was different and more difficult. for our first responders. >> reporter: that is surprised that is one of the two victims was a 7-year-old girl found by
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her firefighter father. he found his daughter and pulled her out. president biden in the first lady were here, before they left a head for air force one they also met with families, they stopped by the memorial wall and paid their respects. newly obtained cell phone video shows the dust cloud, chaos and confusion in the minutes after the surfside condo tower fell to the ground. survivors rescue people out of the rubble and those standing on their balconies screaming to be saved. people telling those below that the stairwells were gone. they were finally rescued by firefighters. crews searching this week say they are finding a lot of the victims in their collapsed bedrooms which makes a lot of sense as most of the residents were speaking at 1:30 a.m. when suddenly the world came plummeting down. day 9 of the search and rescue and hopeful search for survivors. tropical storm which became a
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hurricane, elsa, this morning, may cause another pause, maybe two or three days in search and rescue operations coming out of very for time because the window of survivability is starting to run thin after nine days. sunday, monday, tuesday, the sirkin, 75 mile an hour winds, could be impacting south florida including surfside. neil: thank you very much. ♪ ♪ when technology is easier to use... ♪ barriers don't stand a chance. ♪ that's why we'll stop at nothing to deliver our technology as-a-service. ♪ liberty mutual customizes car insurance
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hot dog or... chicken? only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ neil: years the good news, fireworks are back. if you tell the city can find them they are in short supply. jerry willis, what's happening? >> reporter: it is crazy here. so much demand. in pennsylvania phantom fireworks selling firecrackers, 16,000 shots, maximum power and the old-fashioned if i find one here roman candles but this is old school.
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assorted products where they put a bunch of firecrackers in those packages but they are going like topsy and even rationing products. i found this little placard at the cash register. they are only allowing customers to buy some of their products. from phantom fireworks, describe for us exactly what the issue is with shortages. >> supply chain issues. plenty of fireworks overseas, we can't get any container ship space to get the container over here. >> reporter: that will be pushing your prices higher i would think. >> 30% price increases across the board due to shipping costs only. >> reporter: i look around here, doesn't look like you have any stock demand, your inventory turned over one, 2, 3 times a day, people rushing in and out of the store. what do you expect out of consumers on your busiest day of the year? >> more consumers than we see
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now. we won't have the same variety we have, we will be making substitutions. >> reporter: appreciate your hosting us. you have to get up off the anchor desk and buy some fireworks if you want them for the holiday weekend because they are going straight out this door. neil: i bet. great reporting is always. something a little less risky, people get injured with fireworks, how about going to the movies? they are back in the rage. how all of that is going for movie theaters waiting for this moment. >> are the audiences going to come back to the movie theater to watch the movie and the answer is yes if the movie is
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good enough. typically on the fourth of july holiday before the pandemic, $200 million or more this weekend, more modest, expect $50 million, a sign of a return. the big release this weekend, will rake in $50 million, or action film be forever purged the but neither of those movies is expected to top the fast and furious movie, it grossed $83 million for the end of june. some say the secret the box office success at movie theaters is exclusivity. the movies that are only
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available bringing people back, they are saying that is why it is generating a lot of success. we look talking to moviegoers asking if they have a choice between streaming at home or going back to the theater, they take the theater every time. >> i love sitting in the front row in a movie theater by myself, just me and the giant screen looking up and seeing all my god, just like having that moment on the big screen and the experience of it, something can't be replicated at home. neil: testing the idea of exclusivity being the secret of success, boss baby being released today, not only will be hitting the movie theaters but also available for streaming on peacock so we will see if people come to the theaters to watch it but i don't know about you, people come for the movies, i come for the concessions and coming back to the theaters. neil: that guy sitting in the front row, some of these theaters push that, they literally right on the screen.
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whatever. thank you. great job. we are back on the roads, back on the airports doing everything and back with susan and larry. all of these take a backseat to word that cruise buffets are returning. not the kind where they dole out the food to you where you take control of the food you are getting. these are startling developments. what do you make of that? >> i was shocked when i you were big on this so i checked the cdc guidelines and they said avoid operating any self-serve food drink options such as buffets but then you have carnival operating on their first few sailings, the
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cruise lines are not and famous buffets, the brunch buffet is back in july, eight buffets are back and it drives foot traffic and it is the most popular for buffets, which are the most popular. neil: sunday. >> no, friday evenings. neil: i am thinking a brunch buffet but maybe not. >> family-style. neil: you sound like you have doubts about the whole thing, you are rather not mess around with other people who pick through the food. you are not big on that. >> i don't even want -- neil: all right, calm down. larry, i am looking at this, i know some of the rules affecting cdc guidelines, the threat of the virus is risky but what i didn't like about this thing where someone else was serving you in a buffet
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line, i am wondering if this changed the dynamics of that but is it too risky to bring this kind of thing back too soon? >> there are two kinds of people in this world, those who see cruising is mardi gras on the ocean, dancing, gambling, singing, shows, adventure, seeing new places, spray of water on your face, las vegas on the open seas, then there is my wife to absolutely feels this is a floating prison, a petri dish you can't get off of the she is traumatized. regardless how you feel people love cruising. the demand is there. the all-you-can-eat buffet is the draw for most people, getting people who live cruising love cruising and they don't care about covid. they don't care about regulation. they don't care about rising food prices. they can't wait to get on that boat. they are in line right now in florida two weeks from now. it is great the consumer is back as want to express
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themselves. personal poise, personal responsibility. the buffet is back and so is america. neil: you strike me as the one that would like to challenge the high seas and all that stuff. susan probably loses weight on a cruise. >> on a ship with thousands of people you don't know, that is my nightmare. neil: someone has an attitude about this. you don't like that. take a look at this. we are putting up with a lot when we go back to life is normal, the crowds, prices and everything else. you are quite right to say not many cruises are bringing back the full buffet where you are in control of what you put on your plate but the fact of the matter is more are going that route and we are paying top dollar for it. >> if you look at the cruise line bookings they are booked until 2023. people want to get back out there, go back and eat.
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in new york you can't get a table. you have theater, broadway shows past september through the end of this year. people are very bullish wanting to get out and spend and get back to normal life. neil: you're having troubling with this, immediately. larry, i am wondering, the same thing hitting these people with the success. a lot of restaurants and cruise ships and all having the devil of a time finding people so you might get a lot of what you want but you might have to wait. what do you think? >> it is true. these extended unemployment benefits have been a challenge for every hospitality industry. a pickup and hiring of hospitality, a lot of that won't happen until after labor day so you will lose the summer season. this is people's window to get out. in downtown boston the bars and
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restaurants are full, the office buildings are empty. people don't want to come back to work, they want to socialize. never underestimate the us consumer. they have money in their pocket and want to get out and they want to make memories. we need to support having an economy where everybody works for the long run, get back to work, get back to having fun and reinvest in the future. neil: i wonder what the fall looks like. it will be more of a hybrid work environment is i'm not so sure of that. how do you think things will look in september october? >> september, maybe initially the next 6 to 8 months, you see more of a hybrid work model where you work sundays in the office and some days at home but eventually long-term over the next 2 or 3 years everyone will come back into the office because this is where culture is built with in between moments where ideas are generated and relationships are built and that is how business works. i want to see you back here at some point. neil: i am never coming back. i am going to talk to a camera
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and assume it is real. thank you all very much. bring the buffet back. happy fourth to you guys. we will have more after this. tums vs. mozzarella stick when heartburn hits, fight back fast with tums chewy bites. fast heartburn relief in every bite. crunchy outside, chewy inside. ♪ tums, tums, tums, tums ♪ tums chewy bites
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: >> neil: you know you're into this rally we are looking at right now, ending a good week that ended after a good quarter and a good half year and picking up the same way now. a lot of it buoyed today by the
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far better than expected jobs report 850,000 new jobs now. in case you are counting, we're about 6.8 million jobs shy of where we were before the pandemic. remember when we were down net close to 23 million. that's a remarkable comeback for an economy and a nation that was down and out and looking like it might never recover. look at us now. optimism abounds. charles payne has it. hey, charles. >> charles: neil, remember the stock market predicted this last spring when no one could figure why it was up. it knew this was going to happen. >> neil: you are right. >> charles: have a great 4th my friend. >> neil: you too. >> charles: good afternoon, everyone. i'm charles payne. this is making money. president biden taking a victory lap on the jobs report and the media of course gushing, but i can tell you the market is acting like it is a dud because bond yields are plunging, stocks are soaring,

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