look at markets speaking of not pretty. we were down as much as 500 points on the dow. we managing to half the losses. 250 on the dow. nasdaq down more than 100 points. big tech struggling and the s&p up 43.22, down .8 of a percent. our time is up. neil cavuto, take it away. neil: ashley, thank you very much on that. we're focusing on those low interest rates, dramatically low interest rates. a lot of us are looking at the 10-year note for a long time, particularly on this show, it was defined what is going on the inflation front. it's a bit more worrisome. the yields keep falling in the face of higher prices. some folks are beginning to wonder whether it is telegraphing something more serious like an economic slowdown or even worse. way too soon to say. aberrations are sort of common for these markets, particularly

the bond market. we are now back to lows we were experiencing back in february here. the latest catalysts seem to be concern about this variant, this covid variant that right now seems to be gripping the world. it is proven very resistant to some vaccinations or at least doesn't get the same type of bang for the buck that other, you know, variants have in the past. so that is leaving talk of a slowdown. then you get word of the tokyo olympics, they don't want any spectators in the stands. thinking to yourself, self, there are problems there. is this beginning to reveal we could be looking at a slowdown here? let's get the read from scott martin, kingsview asset management. we have luke lloyd back with us as well, strategic wealth partners. luke, to you first, whether the bond market is telling us something that the stock market doesn't want to hear, what do you think? >> investors can't have it both ways there are two narratives

going on. investors get scared when yields rise because of inflation concerns. investors get scared when yields go lower because of economic concerns and delta strain of the virus. you can't have it both ways. the question you have to ask yourself what is the best-case scenario, and what is the most likely scenario. the best-case scenario yields continue to rise because there are no more shutdowns and the economy remains hot. what is more likely scenario. i think that same scenario is more likely. the u.s. can't afford and handle another lock down. half the population is fully vaccinated. i think these concerns are just temporary and the stock market continues to slowly grind higher. neil: interesting. because, scott, you know, you could make the very argument this is happening, it is going to be beneficial to stocks, right? because the lower those yields go obviously dividend yields on the s&p 500 are a lot higher. you could make the argument that you're getting squat in bonds. it might be safe but you're not getting much bang for the buck. so it might, as investors try to

regroup through this be a good thing for stocks what do you think? >> right. that is the funny thing, neil. i think if you look at the pace of this interest rate plummet as you highlight at the beginning of the show there, that is concerning. we were up near 1.73% in the 10 year just a few months ago. everybody calling for two, 2 1/2, even heard some threes out there by end of the year. everybody now is calling for one. i think it is the pace of the fall in the yield that is really concerning. also if you juxtapose that versus stocks axe you said, dividends yields, yields on zap, the fact a lot of techland is highly leveraged. thereby their borrowing costs are falling by the day as the 10-year falls, that is constructive. shows you how the market gets in the weird moods, luke pointed out maybe investors wanting things both ways or just the fact the market gets in this sell first, ask questions later news. any news is bad news, a reason

to go for the sidelines. neil: you know you could use it, you guys are very good spelling out the big picture here. luke, you could use the argument this is worrisome development for technology stocks. however you look at their downdraft today, they're still up, up and away over the last year. amazon going into the day, it gained about $130 billion in market cap. so i'm beginning to wonder whether this is just a, a slight adjustment to that and nothing more ominous. how do you play technology stocks? >> yeah. i think it is a slight adjustment all around but all around i think it is actually bullish for u.s. domestic stocks. the reason why is, first off the u.s. economy is essentially so hot right now. that is causing issues. companies cannot hire enough workers to grow like they want to. that is scaring investors. you have the delta variant freaking people out. americans get tunnel vision and

forget about the world. in america things are pretty good and we're open and partying. if you look globally, it isn't pretty. many countries are still shut down. this is changes for u.s. stocks to outperform international stocks over the next coming years. not only are we open but international investors want to own u.s. stocks because we're open. this is bullish for u.s. stocks and technology stocks over the next coming years. neil: scott, you could also use the argument, lower rates, whatever the rationale behind them, certainly will help those looking for a home or those who want to refinance the one they're already in, that typically happens with these type of spurts in activity. and we've seen housing ebb a little bit, maybe because of the price of homes themselves have gotten so high. what do you expect on the housing front? >> housing feels a little bubbly to me, neil. not so much say, 05-06, even in the mid-teens. it feels a little bit hot right

now, too kind of hot to hand dell. you're right, refis are definitely a big boom last couple years for consumers that could happen again as rates falling here, with the fed in play buying a ton of mortgages, all they can handle. housing is staying strong here i think helps us pull through some of the difficulties here with maybe resurgence with the delta variant or slow down with the economy. one of the things i agree with luke, overseas issues. domestically things are pretty strong. look at the s&p 500, boys and girls, half the earnings in the s&p 500 come from overcvs. if the global situation isn't as good as the u.s. situation, eventually that does concern me for overall performance of equities going forward. >> why i own the s&p 500. neil: you could say that, or the nasdaq a proxy for that. if you want to pursue that a bit with you later in the show because i want to get into whether china created this technology rout and might be

ruining that. that will be late in the show. my buddy connell mcshane is at the white house. connell, as far as i know, inflation pressures are transitory, look what is happening on the jobs front, the jobless claims front, all good. is that still their take? reporter: pretty much, arguing things are getting better rather than worse. it will take time but they have already seen x-amount of jobs added since the president has taken office. you mentioned jobless claims. i did think that number this morning brought up some questions however because it seemed to hint, only one week, that the job market recovery might be slowing a little bit. 373,000 people filing for claims for the first time. that is more than expected. that is somewhat odd if you think about the fact we're in a market right now or in a country right now where there are more jobs open than there ever have been in the past. you would think they would be snapped up quicker than they have been. now in a move maybe somewhat related, trying to address this we're told the president will

sign an executive order soon to crack down on non-compete agreements which of course make it more difficult for people to move from one job to another, at least at a rival company. but you know a lot of people think the problem is wider than that. not necessarily people switching jobs but people not working at all, out of work for a long time. in fact 26 governors tried to take matters into their own hands. they cut off the extra $300 the federal government hands out each week in enhanced. there are lawsuits been filed. judges came in forced the states to start paying again. we spoke to experts about. this the worry seems to be that the incentives are just getting more and more skewed. >> so-called jobs plan is creating massive new government programs so that people have to turn to the government to get the things that affect every part of their life, whether it's child care, pre-k, community college, paid family leave. all of these things that workers

usually earn money and pay for on their own, now they're going to have to turn to government programs. then we would likely see more of these lawsuits if they don't think they're being given the benefits they're entitled. reporter: texas is one of the states where there is a lawsuit. see others on the map there they're trying to force the governor to reinstate 300 bucks a week. in speaking to a state official in texas, an interesting stat emerged. they said when the governor rolled back the benefits, 500,000 people about lost their benefits, their jobless benefits but that same state official says they're currently 850,000 jobs open in the state of texas, neil. so theoretically, there are more than enough jobs to go around but, for whatever reason, jobless benefits or something else. people are stillp not taking advantage of that situation. getting back to work. neil: that is a very good point. i have no doubt it is playing somewhat after role here, but exclusively the role here that is a whole another matter. thank you very much, connell

mcshane at the white house. >> >> i want to goll to congressman brian babin from texas. congressman, now it appears that jobs still go begging even when jobless benefits extended benefits, you know, thrown out the window here. what is going going on do you think? >> i think you call it socialism, neil. good to be with you. we've been locked down. i was just listening to your guests and your panel just thinking what a difference a year-and-a-half makes. a year-and-a-half ago we had the best economy we had seen in 50, 60 years. the lowest unemployment rate in history for many segments of our population and we've been locked down. we had these enormous generous packages, trillion dollars packages of unemployment benefits and extra pay, et cetera throughout the nation. and as you just mentioned, you

know, we have got 600,000 people plus, you know, wanting their benefits. we have 800,000 plus jobs that they're not looking for. and so i think it is just a matter, it does people good to work. we've got to get people back to work. i can't tell you how many small business owners i have talked to come crying and complaining that they can't get people to go to work anymore. every single day i hear at least one, two, three, sometimes five or six small business people come tell me that very same thing. we have to get people back to work. the best stimulus package of all? get them back to work. go back to school. open this country back up. neil: congressman, thinking of you knowing i would be chatting looking forward to that that the president has said it is really incumbent on businesses if they want to get workers pay them more. he whispered, pay them more. which kind of freaked me out a

little bit, but i digress. what do you make of the simple solutions for businesses is just pay them more? equating a walmart or a target with a pizza shop on a houston street? what do you think? >> it brings to mind marie antoinette, who said, let them eat cake, when the people didn't have enough bread to eat during the days of the, previous to the french revolution. it is just ridiculous to say that. let them pay more. well, you know, if you don't have enough people to do the work, you're not, your profit margins are very thin to begin with. restaurateurs et cetera, it is just an unrealistic statement. it shows that the president is really detached and disconnected from the real problems of this country, especially when it comes to our economy. he is trying to kill the economy. i have mean, you know, i thought we were going to talk about infrastructure.

all i can tell you is these huge, trillion dollar packages that these democrats keep pushing on us, there are 6 trillion-dollar budget, they're all going to have a negative affect on our economy. they are going to -- we have had a number of wharton school. we've got rice university, several, not just conservative but also liberal think tanks that have done analyses, show these tax increases that the democrats are pushing, these infrastructure packages, it is 6 trillion-dollar budget that he is pushing will cost us millions of jobs over the years. they're going to hit the middle class, very rapidly, which is absolutely contrary to what the president said. no middle class person is going to have a tax increase. that is absolutely false. it is not going to happen like he says. and i serve on transportation and infrastructure. i can tell you after a 19 1/2

hour mark-up a couple weeks ago, this package is, my way or the highway. that is what we're calling it on the republican side. and i have -- neil: so you're against it, congressman, the way it stands right now. we're hearing right now, july 19th they're pushing to get a vote in the senate. it's a 50-50 flat. >> right. >> do you think as things stand now, your own views notwithstanding you think it would pass, just the infrastructure package? >> listening to what mitch mcconnell has said, some of my colleagues, i have, i'm not optimistic whatsoever that something like this is going to pass. this is, to me, i think its obvious, i think it is obvious the democrats have a bait and switch. they're trying to play the bipartisan card when we absolutely know that following this bipartisanship that they're talking about, senators seem to be discussing, we, the president has said he will not sign

anything unless it is in tandem with a multitrillion dollar infrastructure package for humanitarian infrastructure. not infrastructure at all. and what they're going to do is just simply suck in, you know, republicans and some moderate democrats, to vote for a bipartisan bill. then follow it up with a multitrillion dollar unrealistic package that is going to break the bank and has nothing to do with real infrastructure. it is simply green new deals, tax increases, the whole thing, the gamut. i hope i say that my colleagues on the senate side republican side, are very careful before they join in bipartisan deal 1.2 trillion, i think it overly high. follow it up with a reconciliation bill with no republicans, ram it down our throats with budgetary

parliamentary procedure, break the bank and ruin our economy. that is what it looks like to me, neil. neil: that is very interesting. they might have a hard time on reconciliation vote getting that through. a couple of democrats, congressman, agree with you. we'll keep a close eye on that. very good catching up with you. >> good to catch up with you too. neil: all right, congressman brian babin, beautiful state of texas. crime is a big issue right now but when you hear democrats fighting with fellow democrats over how big of an issue, that tells you all you need to know about how it could become the issue in the midterms, after this. ♪.

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♪. neil: all right. rising crime rate in chicago is really. of a met for for what is happening across the country particular any in american cities. mike tobin with an update on some real tragic incidents of late that could have gotten even more so. mike. reporter: i can tell you this,

neil, three people were killed on gunfire on the day that president biden came to the area. he came to the chicagoland area with the goal of advancing his agenda, talking about what he calls investment in human infrastructure but his message was quickly overshadowed by this unrelenting bloodshed. particularly two atf agent and a chicago cop were shot that morning. chicago mayor lori lightfoot spoke briefly with the president on the tarmac. gave him an update on the agents. he reiterated his commitment to working with leaders but one chicago alderman doesn't think a quick chat will get it done. >> that the mayor meets with biden, it will use a backdoor bailout to save the city of chicago while not increasing safety on the streets. reporter: most of the shooting is gang-related but not all the victims are. a funeral today for max lewis, a university of chicago student,

he was commuting to a downtown internship when a bullet came in the train and hit him in the neck. he survived until he was taken off life-support. >> there is more platitudes, more problem polices that won't be kept. i mean, lori lightfoot had the nerve recently to say that crime in chicago is on the decline. that is a latetant lie. crime is not on the decline. homicide and shooting rates are up. and as we've seen, chicago had its most murderous weekend of the year. reporter: you know, neil, when you go through the individual incident reports of each of the shootings in almost all the cases the gunman gets away. back to you. neil: just incredible. mike tobin, thank you very much. mike from chicago. it this as mike was hinting at, more than a problem in the chicago area. you have probably known, seen this, footage in san francisco, outside of a neiman marcus in broad daylight people

vandalizing the store, taking out equipment, anything they can get their hands on. it extended to number of other retailers assessing the whole situation there, you know what? maybe we have to cut back on our hours here. the economic impact is real and could be spreading. big concern to rachel mitchell, california retailers association president. rachel, good to have you. i can understand your members concern here. this is guesting out of control. >> this is something we've been advocating for for years. urn fortunately this isn't new. we've been raising the alarm organized retail crime is on rise. it has been on the rise in california. we were thankful to work with the state legislature and get funding in the governor's budget for organized retail crime task force and we have legislation pending but we can only do so of when we have particularly san francisco leaders talk about the issue but we have not seen any action to solve the problem.

neil: i guess you're used to it there, having seen this, what struck me, a, was in broad daylight. the store was open. the store presumably had security guards. they just more or less threw up their hands, there is only so much they can do, because so many people were going by. i doubt they're armed anyway. having said that, i'm sure potential customers to those stores see the same video, and hear what you're saying and they begin to worry, whether the hours are cut back or not at these establishments, they don't want to go out. does that concern you? >> absolutely. you know, we're coming out of a pandemic. we're trying to find economic recovery here in california, particularly in san francisco which has very strict restrictions on businesses in terms of capacity limits. so we're doing everything we can to bring customers back into the store, when these videos come out, more importantly, think about the customers and the employees that were in the store at the time that happens. think of the impact on them. they're the victims that no one is really talking about.

when you hear stores closing, when you hear stores making an economic decision to shut their doors early, what does that tell but the situation in san francisco? we have a district attorney who has said he won't prosecute these crimes. we have a police department that is doing everything they can but they can't make the arrests to make these cases if to put these people behind bars. these are blatant criminals, using proceeds from these crimes to fund really awful things and we need to find a solution to it. you know, california, we're a big state. we're the fifth largest economy. we're a hotbed for this type of action. retailers association and my member companies are raising our hands saying we want to help solve it. unfortunately in san francisco right now it is falling on deaf ears. neil: you know, people lose sight of the fact that they associate high crime with iffy areas. san francisco, neiman marcus where a lot of this was going

on. that is as nice of a neighborhood you can get. obviously it transcends the economic conditions of the community. the fact so many of these retailers to your point are considering cutting hours. usually that is a step one. the next step is just removing stores from the area all together, or shutting them down. are we close to that? >> we've already seen some retail pharmacies in san francisco who have closed their doors. that happened even prior to covid because of this issue. you know, i hope not. and that is why i'm doing everything i can to try to work within san francisco, across the state to really find a solution to this problem. because san francisco used to be, it was the mecca for shopping. retail, it was famous for shopping. i mean, took my girls to macy's at christmastime and the tree in union square. i have wonderful memories going to that city, i care passionately, personally, about trying to find a solution and it

breaks my heart to hear people, read commentss of folks don't want to come to the city anymore. that is unacceptable. neil: it's a beautiful city. it's a beautiful state. i am curious as we show video of these people who looted the store, has any of them been apprehended? is there been any move to track them down? >> in terms of the neiman marcus video not yet. i think they're looking at that. that is world's greatest example of organized retail crime. they hit neiman marcus in palo alto as well. law enforcement is looking to see if there is a connection. in case of the walgreens video a few weeks ago, that suspect was apprehended. we're waiting to see exactly what the outcome is particularly from the district attorney, how far will he go? will that gentleman face criminal penalties for the actions that he did? neil: you wonder, rachel michelin, california retail association's president.

rachel, thank you very much. >> thank you. neil: just incredible, right? all right, by the way it is not only donald trump looking at technology companies and tick lackly google. -- particularly google. so are 30 state attorneys general. why? we'll tell you after this. ♪ usaa is made for the safe pilots. for mac. who can come to a stop with barely a bobble. lucia. who announces her intentions even if no one's there. and sgt moore. who leaves room for her room. with usaa safepilot, when you drive safe...

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unique case here because it also has a lot of attorneys general looking how it conducts its business, particularly with regards to its app store. gerri willis has much more on all of that. hey, gerri. reporter: hey, neil. that's right. alphabet google has been sued by 36 states attorneys general allegedly the company illegally abused its power in the sale and distribution of apps offered in the google play store on mobile apps. look at this. the complaint was filed yesterday in federal court in san francisco, alleging that google used anticompetitive tactics, forcing developers to use the google play store to reach users what it describes as an illegal monopoly. the complaint describes google's commissions on app purchases of 15 to 30% as extravagant. the suit is bipartisan led by the state of utah. google says in a blog post it provides a free operating system where customers are allowed to

download apps from developers websites. class-action suit by former president trump's attorneys seeks to prevent facebook from censoring his tweets and others and restore the president's social media accounts. the lawsuit stating this, and i'm quoting here, defendants say facebook is increasingly engaged in impermissible censorship. defendant facebook status rises above a private company to that of a state actor. as such the defendant is constrained by the first amendment right to free speech and censorship decisions it makes regarding users. now a similar suit in florida was blocked by a federal judge. that suit was based on a florida law that was would penalize social media companies for blocking a politicians's posts. the law was due to go into effect thursday but u.s. district judge robert hinkle in issuing a preliminary injunction suggested that the law would be found unconstitutional.

while it seems trump's suit may be stalled as a result of that florida case, some say well there is bias in social media decisions. listen. >> frankly the way that twitter around facebook have handled these kinds of issues has been at best completely inconsistent and subjective and there are those that could look at this kind of a case and, at first blush, understand that president trump can feel frustrated by the way that there has been some inconsistency of regulation. reporter: so now you can definitely say that the lawsuits on big tech, they just keep coming. i think you will be able to expect more. back to you. neil: all right, gerri willis, thank you very much. here is the guy leading that charge. sean reyes, the attorney general from utah. was kind enough to join us. now, general, maybe you can help us with this, is the beef with google in this particular case on how it conducts or controls its app store, these other

issues about bias notwithstanding? >> that's right, neil, and before i jump into google i got to say you have to have me on another time with organized retail theft. we're proser cuting those cases. california need as solution. we got it in utah. our beef is google is weaponizing and did cramming down exorbitant fees on small businesses, competitors and indirectly consumers, costing billions of dollars that are unnecessary and unlawful in our view. they are using their hyper dominance in the marketplace. they are the marketplace, neil, when it comes to android. and they're forcing again upon, young app developers, developing companies, emerging innovative competitors, the next googles out there. they're forcing fees that are 10 times what the free market would provide. again, using their power to keep

and capture app developers and then levying on top of them exorbitant amounts. that is our beef with them. we're not trying to put google out of business, neil. we are trying to put them out what we feel is an illegal aspect of their business. neil: it wasn't too long ago that, not you, attorney general, but many of your colleagues were saying the same about apple. i don't know whether it dodged a bullet here or whether it corrected this attack line that is very similar what we're heral hearing about google right now, sort of leveraging its app store to really put the hammer down and the cost up for those who use its service. but apple again isn't part of this. why? >> apple's not part of this case. there is nothing about this particular case that would preclude us from investigating or bringing a case against any other entity. there are private sector plaintiffs right now embroiled in a case with apple and we're watching that closely, neil, but

again what this means for the average american that they have been unknowingly paying much more for never app purchase they're making, at least for many of them, maybe best illustrated giving an example. if you're trying to upgrade your service on a program, to get the premium service or the one without advertisements, or you're a gamer and you're buying an extra pot of gold or a weapon in the game, you're paying an amount. google is requiring those app developers, charging instead of 2 or 3%, 30%. so if you look at the numbers overmany years we're talking about again billions of dollars americans are unknowingly paying. they're paying more for getting less. this is bipartisan effort with the supermajority of states. if you can get republicans and democrats today, neil, to agree just about anything, there is probably something serious going on. neil: please keep us posted, sir on this. it is getting a lot of

attention. right now it is pressuring the stock so it is having the impact maybe you predicted. sean reyes, the attorney general from you utah, thank you, sir. update you on technology stocks. they're not liking this but a low interest rate environment which typically helps them. it is not helping them today. we repeat this a lot, the lower bond yields you hear so much about might be telegraphing something completely different like a slowdown in the economy. that is a big worry. it is hitting a the love economically sensitive issues as well. the yield on the 10-year treasury now around 1.3%. it hasn't been that low since back in february. stay with us. you're watching fox business. ♪

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♪. neil: all right, i know the markets are worried about what is happening now on bond yields. the 10-year treasury note is down to 1.30%. this is the lowest we've not seen since back in february. fourth straight day in a row we've seen this, but you're in debt supposedly it is good news. it is cheaper to borrow. cheaper to buy a home. cheaper to refinance the one you're already in. the that doesn't make the underlying home anymore affordable. well the cost of homes has been soaring and lit effect on interest rate movement to change that equation. people are returning to work are renting the good stuff. brand new, ready to move in, impressive to look at, all the important stuff you get with owning a home without the

mortgage. lydia hu has been following all of that is following that in dallas, texas. reporter: neil, we're in one of the hopes you described. brand new countertops in this spacious kitchen. you're right. owners will not move in here. it is for renters. part of a so-called build to rent community here in dallas. bringing 80 homes online. they started renting in early july. the space comes for what you usually think of for homeownership but with amenities for apartment living. trash removal, cable, internest landscaping. living here means you will never have to mow your lawn. >> we're seeing a lot of renters by choice. they can afford to own a home but choose not to be committed to something for 30 years. we're seeing that american dream change a little bit. >> reporter: the builder says they

have interest from millenials and retirees who choose to rent and others who cannot afford a down payment on a new home as prices have climbed to all-time highs during the pandemic. neil, this is a growing real estate sector. communities are popping up across the sunbelt region. tens of thousands of single family for rent homes have already been built. hundreds of thousands are expected to come in the coming years, neil the. neil: they look pretty cool, look very nice. thank you very much. lydia hu on all of that. life makes you lemons you i guess you make real estate lemonade. what is going on in tokyo, a couple weeks for the olympics. there is something a little bit different for these olympics. i want you to take a look at the stands. there will be no one in them. after this. ♪.

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♪. neil: athletes welcome fans, not so much. tokyo has put the hammer down. says there will be no spectators allowed to watch any of the games just starting in a couple

of weeks because they have got a covid emergency on their hands. they have assured athletes attending from all over the world that things are safe there. this is scaring folks there, to say nothing of athletes that plan to go there. add to that american protesters and athletes who might protest on japanese soil is a concern for some republican congressman who think that is not the venue to do any of this stuff. chad pergram with how all of that is sorting out in washington. hey, chad. reporter: good afternoon, neil. nearly 40 house republicans wrote to the united states olympic committee expressing concern about athletes protesting at the games. by name the lawmakers call out bmx athlete chelsea wolf. wolf said she would burn a flag on the podium if she won. that infuriates gop montana representative matt rosendale. >> i don't want to see the games politicized. reporter: we've seen protests at the game before. notably when sprinters tommy smith and john karl lows raised

their fist on the podium at the 1968 games. >> very similar to 1968 where we're very fragmented. you have an athletic platform and a worldwide, nationwide stage, there is a tremendous opportunity to make those statements. i think it is natural outcome what has been going on politically in the united states the last year or so. reporter: former senator from colorado, ben nighthorse campbell competed for the u.s. in judo in the 1964 games and also in tokyo. he opposes mixing politics in sports. >> you have the right to express your opinion. it is venue you do it. doing that they destroy the bigger picture which is the national fabric. reporter: olympic charter bars political and religious demonstrations at the games. neil? neil: chad pergram, thank you very much. wall and broad, sell off ensues, when we are off more than 500 points. the dow off 215 points.

nasdaq taking it on the chin. technology stocks have been taking it on the chin. it began in china overnight. asia by extension when people saw what was happening in the technology sector there. china might lay a lot of the blame on this on the reversal of fortunes in its once thriving technology arena because it is clamping down on technology. that is not only hurting chinese investments there but now technology in general everywhere. scott martin back with us. luke lloyd back with us. luke, the chinese might have started this, the interest rate thing notwithstanding by cracking down on their own offerings to say nothing of what they used to do to alibaba and all the rest. showing more their military concerns than their economic ones. what do you think is going on here and how long does it last? >> yeah. so i talked earlier about how you should stay away from international companies. i think china is where you should stay away from the most. china probing u.s. companies

should absolutely 100% concern investors. you shouldn't be buying chinese stocks at this point. the regulatory headwinds that could come from both sides are not worth the risk. didi listed in the u.s., taken off the app store in china was a big middle finger from china. they could have done that before the ipo but they chose to wait. the u.s. is reacting withdrawing adrs from the exchanges. i like to invest in free market companies. china is not that. unless the company was trading at an extremely low valuation at a price i was willing to pay i wouldn't be a buyer. neil: that is very interesting. you know, scott, what is also interesting, the fact that china either doesn't much care or it wants its cake and wants to it eat too. that is dumb depression. if you have the cake please just eat it but i digress. i'm wondering whether china, played this out in their heads and now is shocked at the market fallout, to say nothing of

growing u.s. pressure to crack down on this sort of stuff? as luke said, maybe just not to buy their stuff all together what do you think? >> well it is a hard thing to avoid typically because a lot of companies do business in china. china is on pace to be the largest economy in the world in a matter of years. billions of people obviously companies want access too. i'm not sure china even lets their people eat cake which means there is more for us in the united states but if you look at president xi's comments a week ago at the 100th anniversary celebration, i guess you call it a party on chinese terms, the things that he said at that presentation were actually pretty shocking, pretty aggressive, pretty militaristic, pretty scary for the rest of the world. when you look what china is doing, whether they mean to cause an uproar, whether they mean to cause sell-offs or not i don't think they care, neil. i think china is ready to take on everyone and anyone. concern how the markets initially, as we figure out who the real president xi is as the

markets started to figure that out they haven't like what they have seen so far. neil: good point. gentlemen, i'm sorry to trunk kate this, with this breaking news unfortunately we have to. we'll continue updating you now on the recovery effort, that is what they're calling it now in florida, that surfside condo that collapsed amid a new push to sort of look at all buildings in the state, even the country. after this. your frisbee off the roof? i'll get it. ♪ (upbeat music) ♪ ♪ ♪ ... you threw it. it's your frisbee. geico. switch today and see all the ways you could save.

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neil: welcome, everybody i'm neil cavuto and you're watching "coast to coast" and you know, markets are not perfect. they're not the great of all things money, but sometimes, if you follow the bread crumbs a little bit, you can see what they are worried about and where they are leading and in the bond market i don't know if they are worried about it but they are certainly weighing the possibility of a slow down in the economy given the fact that for the fourth day in a row , yields on things like the 10 year note, popular trading instrument has been going down down down. a lot of people were surprised when the bond market was holding up in the face of all these inflationary pressures and growing belief all this was transitory and that's not the issue here. there seems to be greater concern about the pace of a global recovery which by the way hit asian stocks and hit european stocks now hitting american stocks and the stock market is not benefiting from

any of this. in fact, you could argue that you get far more bang for your buck on the dividend yield and the s&p 500 than you do on a treasury note but if you're looking for safety and a place to park your dough as they sort this out that's what's going on and the bond market is an attractive draw. lauren simonetti has been following all these and joins us now. lauren: neil maybe the bond market is attractive for european or foreign investors who want the safety of what we have here in the u.s. but let's take a look right now at the stock market because the good news is we're pairing some of the massive losses we saw at the open on a broad pullback, especially by the materials, the financials and the industrials those are sector s cyclical. they do well when the economy does well. financials the biggest draw on the dow. you can see goldman sachs down 1.7%, the 10 year now it's at 1.3 but it did hit 1.25. that was the lowest since february, and what it does is it crimps the bank's ability to make profits.

there's also a concern about the consumer and the consumer pulling back, neil. retailers that benefited from lockdown, like home depot, that stock even lower today. so the cyclicals are down, got it but the growth stocks are down as well, so normally, you'd find relief in a stock like apple today. that's not the case. so many of the big momentum names are lower so that raises the question for a lot of people is this not an opportunity for rotation, from cyclical to growth and back and forth but an opportunity to exit, neil? let's take a look at the economic data it's not helping jobless claims unexpectedly rose to 373,000 last week, so that enforces some fears that perhaps the job market is slowing down too. good news, travel stocks, they found support, the airlines, cruise lines they have been sharply lower after that emergency declaration in tokyo, the site of the olympics, the rise of the delta variant, but look at this. you have american airlines up 1% , rallying positive, so you

know, the bottom line is, you have plenty of data to support the notion that the best of the recovery might be behind us, but when you look at coming down 500 to down 200 on the dow that rallies back, maybe this is a buying opportunity for a lot of people, because stocks have melted up for so long, neil. neil: yeah, it's a very very good point lauren simonetti, thank you very much, and as indeed lauren pointed out here this just might be sort of a corrected and a little bit of a blip here, because the fact of the matter is, stocks have had lofty advances with the nasdaq, s&p just hitting records yesterday, the dow wasn't and still remains not too far so maybe this is an opportunity for some and skiddishness to just sell a little bit. you know, one day does not a trend make, so we don't want to make a huge deal of this. liz peek to help us out and mike murphy as well. liz, what is going on here? is the bond market indeed saying we've got problems down the road this recovery, this pandemic

boom, it's not all that. what do you think? >> i'm not sure that's what the bond market is telling us. i think there are a lot of technical factors that are causing yields to go down right now, neil. i think what we've seen if we are going to see pullback in the market which you say is a hiccup right now, is that expectations have begun to approach reality, for months and months, growth was way better than anyone expected. the estimates continued to go up not just for company earnings, but also for growth. what we've seen in the last several days is a slew of data indicating that yeah, the economy is still on fire. it's still doing incredibly well , but maybe it's not going to match the lofty expectations of the optimist and one data point on that, we all track the fed atlanta gdp now number. they ratcheted that down, pretty substantially, in one day, because consumer expenditures weren't growing quite as fast, and i think that sort of typical

of what we're seeing. it's still 7.8% we'll have a heck of a second quarter, we had a heck of a second quarter. the numbers are still outstanding, but it's just a little topping out. neil: you know, we talk about the second quarter numbers when they come out, mike, and i always think it's like i used to tell my parents expect all d's and f's on my report card. i throw in a couple of c's and they think i'm a genius, so we're looking at a number that's not really reality. it's coming off a weak year ago, almost stopped economy number, so the real test will be going beyond that, in the future quarters. i guess what i'm asking is whether the bond market, maybe i'm assigning too much to it, is looking beyond what's happening right now and in the next quarter, maybe next year. what do you think? >> well, i think, neil, the bond market is looking at just a total global picture, but

you can't discount the u.s. market. you know, we're sitting at all times highs right now, and we continue to make new highs and that's because the earnings that you point to, although they are being compared against a shutdown last year, they are still strong earnings. still stronger than what people anticipated, so we go back to like big tech what's been driving the market, you know, as long as they continue to innovate, as long as they continue to produce, and continue to put up better-than-expected earnings analysts will continue to recommend them, analysts keep taking price targets up and we'll have them leading the market so this blip today, you and i have talked for years with rates at 1.25 or rates going back to 3 or 0 and the back drop for all of that has been the markets hitting new highs, so the rates are where they are, and 1.25, 1.3, they may go to 1.5 or 2. if the earnings are strong enough, we're going to continue to hit new highs.

neil: interesting, you know, liz , we are expecting strong earnings again, back to that notion that they have to be up from where they were a year ago, but i think guidance is going to be a little bit more important than its been in the past. what say you and where do you want to hear that guidance particularly? >> yeah, i think that's a good point. we're going to start getting earnings releases and results in just a week or two, and i think the guidance will be very important on a couple of issues. one, ongoing order rates and inventory and backlogs, because the numbers on the services pmi, the manufacturing pmi that just came out showed everything is a little bit softer, the rate of growth is still good, but it's a little softer than it was. my guess is companies are going to start reflecting that . the other thing, neil, i think we're going to be on the lookout for is prices. i was really struck when general mills came out and said they were experiencing inflation of 7 %. that is a big number. everything i see in terms of the

data from the companies suggest that it is in that category. if companies start talking about that kind of price pressure, and wages going up 10-15% which some companies are reporting, i think people are going to focus on that, but generally, i think earnings will be good and i think you're totally right. the guidance is going to be incredibly important. neil: mike, are you worried about inflation? it's trans a transitory or not? >> right now i think the inflation that we're seeing for the most part is fine. it's not going to, there's not enough to spook the market, and prices are going to increase, so right now, i'm not worried about e if it got out of hand, if it started to spike where it was pricing too many people out of too many things, then yes, i would worry about it but right now what would concern me more and i think what's kind of the back drop to concerning the market and the drop at the open this morning is covid. i can tell you, neil, new york

city if you notice, when i was in work yesterday, a lot more masks around new york city than there were two weeks ago, so i think that's more of the concern that man, could this be happening again? i think it's less inflation concern and more potential back to some sort of lockdown, i think that's what's spooking the market more. neil: yeah, and then you get news they don't want any fans in the stands at the tokyo olympics, it does worry you, you say all right it's there it's not here but it be and that's another wrinkle. guys stick around i want to pick your brain on some other developments in specific markets later in the show. in the meantime i want to keep you abreast of other developments we're following the real estate arena as i was telling you normally when rates come down, for real estate that's good news. in other words, you know, the lower costs then obviously makes mortgages more affordable that is if the price of the underlying home doesn't keep rocketing like it already has, but that's when rental activity comes to the floor right now.

we're getting signs out of new york and this is a douglas real estate survey among others that show that a lot of the available supply in the new york metropolitan rental arena has shrunk. its actually been cut almost in half, so obviously, people are getting back to work, plan on getting back to work, renting again, and that could be an underlying sign of strength certainly for the rental market to say nothing of maybe down the road real estate. let's get the read from pierre r oamer, managing partner. good to have you. what do you make of that, what's happening now with rents that, you know, sort of lingering out there, unoccupied apartments that were hitting record levels, now not so much. what are we to glean from that? >> well, neil thank you for having me today, and you know, what you're seeing is that we're a year and a half into the beginning of the pandemic, and with the city reopening, you know, the people coming back residents are coming back at record paces at the moment, and

there's a number of factors for that because you'd have a lot of the major banks on wall street, one on record this week stating they expect everybody to be back at the office after labor day and what you're seeing is that people are coming back to the city renting in anticipation of going back to work, and the biggest variable we're going to have is that to what expect are people going to be in the office? and even if the hybrid concept is implemented permanently in our world, it's still going to require people to be in new york city, so those who be here are starting to rent, regardless i don't think whether companies adopt hybrid or not, that will impact the rental market as much , but you are seeing, you know, you mentioned inventory. inventory in the month of may declined 38%, you know, which is really demonstrating the customer right now. neil: i've also noticed, you're much more intune to this than i'll ever be but what are you hearing on the concessions and the landlords sort of gimme's and a free month or two of rent , concessions on the rental rate itself, less of that going

on, but what's really happening? >> you know, so as a real estate attorney we're seeing every segment of the market right now in terms of purchasing rentals and all of the leases that are going on out there, and concessions have declined significantly in the last couple of months. in the depths of this , it's no secret that the city is in dire straights, and renters are giving away anything under the sun to get people to sign leases. that's certainly not the case today. the concessions again have declined substantially just in the last two months alone. neil: the appetite for rentals and whether it telegraphs anything for or against purchases, is there a connection because i look at some of these stats on these eye-popping penthouses selling, but overall buying activity is quite strong, certainly in the new york area. is there a correlation here? >> there's a correlation, right

now, our purchase sale activity is at a record pace. people are coming in, the sense of urgency in the market to acquire townhouses is the highest i've seen in my 16- plus year career, so where if you compare it to rentals, rental rates are down roughly 10 -15% from pre-pandemic levels so you're actually renting at a significant discount as opposed to purchasing which, you know, albeit interest rates are still low, given the demand is taking place in the market, purchase in certain price points, say for instance the $1 million to $3 million price point, the discount from pre-pandemic pricing is low single-digits so for a lot of people it makes sense to rent and take advantage of the fee for discount from the rental market than on the purchase side. neil: that does make sense. any corporate real estate activity that bears watching? in other words leasing space, we heard dire predictions that

companies would come to find out we don't need as many workers in our buildings, we don't need to rent out as much floor space as we used to. what's happening there? >> you know, so there's a lot of discussion going on in terms of companies downsizing space, and what space will they need and what percentage of the workforce in certain companies will be permanently remote, and we're not going to know the answer to that for another year from now to be quite honest. you're seeing a significant amount of space this year. companies still need space, you know, whether you downsize or whether you have a small percentage of the workforce permanently remote we just discussed the hybrid component isn't going to result in people reducing space because even if people are in three days a week versus five, you still need the same amount of space, so that, the office market in what's going to happen, will certainly have a significant impact on what the residential market and the city will be in the next year or two. neil: all right, thank you very much, learned a lot there, pierre debbas, thank you very

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neil: all right, now it is a recovery operation going on in southern florida at that surfside collapsed condo development. charles watson has more from surfside. charles? reporter: good afternoon, neil. that's right. first responders officially transition from search and rescue to recovery efforts. the main focus now is pulling all of the victims from that collapse site and providing closure and support to the families. here is the governor. >> today was tough. i appreciated what they did for doing the vigil, but the works going to go on and obviously, they are going to identify every single person, and we obviously want to do all we can for the survivors, and the family members to get them on their feet as best as we possibly can. reporter: today marks two weeks

since champlain towers suddenly collapsed in the dark of the night. rescue crews stopped their work at 1:15 this morning for a moment of silence to pay their respects to dozens of victims and families affected by this tragedy. at this time, 60 people in the building are now confirmed dead, another 80 remain un accounted for and officials say bodies are being handled with extreme care as rescue workers find them. there are faith leaders including rabbis embedded on the collapse side working directly with the miami-dade police department to handle the bodies in a manner that is consistent with the victim's religious beliefs and as the county continues its assessment of buildings that are 40 years and older the mayor of surfside says they have engineers at the sister tower north in addition to a ground penetration radar they have employed the mayor says they have taken samples of the buildings concrete and are looking for potential salt content to determine if the concrete is structurally compromised and the miami state

attorney says a grand jury will begin investigating what caused champlain towers south to collapse and will offer recommendations on how to prevent future tragedies from ever happening again not only here in south florida but around the country, neil. neil: charles watson, thank you very much. in the meantime, charles point, a task force has already been established to look into issues like building codes and how to strengthen things up, legal issues that would ignite as a result of this. this next guy heads that task force, bill sklera, hope i'm pronouncing that correctly, a south florida real estate attorney, condo collapse task force chair. very good to have you. maybe you could tell me exactly what the task force is going to do here. >> good afternoon, neil. good to be with you. what we're going to be doing is examining existing law regarding

condominiums, associations, their operations, maintenance, construction, development of condominiums to look at what maybe necessary to enhance those laws, and an example be that what was mentioned was the inspection requirements, what's been referred to as the 40 year recertification. to our knowledge, that only exists in miami-dade and broward counties in southeast florida, and we're going to look at the issue of whether there should be a statewide requirement for that , a statewide requirement as to what should be in those inspections, structural , concrete, electrical , plumbing, roofing, and that those results are scared with building officials to determine in these aging structures, because we have over a million and a half-plus residents in aging buildings over 20 years of age on the

coast, closer to 2 million actually, and we are combing through information to determine where those buildings are, how old are they, and that's not to suggest that every building is not well maintained or for the most part, run well by their associations, through their boards of directors, but there are issues and we're looking at whether -- neil: all right, i'm going to try to link up again and what he was talking about there is something that really just dealt with older buildings, 40 years or older. can you still hear me, bill, or not? >> i do, neil i'm sorry, yes i do. neil: no it's not your fault. i know the target was to look at older buildings and then to make the certification process to look at them for 40 years state- wide, but is it your sense that the vulnerable ones are the

older buildings or those that have underfunded condo boards that deal with this sort of thing all the time? what are you finding out? i know it's very early. >> yes, what we're finding out is theres a great deal of discretion to condo boards of directors, and we have this concept of reserves and unit owners have the right to annually wave reserves or reduce them, and in many cases, they are insufficient but you're correct. we're dealing with older buildings, and whatever findings and recommendations to our governor and legislature, they are going to be fact-based, evidence-based, but yes, we're dealing with older buildings but again, buildings built even 10, 20 years ago are aging and we want standards for their inspection for the safety so that no one who lives in these buildings has to worry when they go to sleep that there's an issue and they won't, that

has not been dealt with by the associations or the boards or the building officials. neil: this might be outside your perview, bill, so forgive me but i was reading it might have been the palm beach post that people are very leary now of taking these volunteer condo board jobs on, because of potential litigation and that it's not something that they want to do. how pervasive is that? where does this go? >> and that's the so-called other side of the coin. these are volunteers who for a large part pair about their neighbors, want to maintain their properties, want to keep their values. want to do the right thing, and we have to incentivize people to serve on boards, not scare them away. that goes to possible measures of insurance to protect them, and again, a question of should we provide guidance,

professionals, as you know, corporations are run by professional presidents and officers of corporations. a professional of the management we have community association managers who are professionals but we need to set potentially further standards, so we take that discretion to some extent away from the board and therefore, they know what must be done and it gets done and they don't have to fear serving as a volunteer for the right reason. neil: yeah, because a couple in this case were sued, right, so they are still waiting to see what happens there. bill sklar, thank you. keep us posted on your progress much appreciated. >> we will, thank you for having me on, neil. neil: all right in the meantime, i want to take you to sun valley the big media mogul conference and sometimes there are moments that just sort of tip it friday what's going on. all of these private jets parked at an airport, and they're

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neil: all right, the sun valley media mogul conference, i think that's what they call it media mogul but just a bunch of rich guys, congregating there and a lot of them infancy private jets , on a day they are talking about global warming, climate change, and maybe that's sending the wrong signal but who am i, charlie gasparino, following it all very very closely. charlie what's going on? charlie: yeah, neil. some rich gals i just ran into, cheryl sandberg of facebook, nice lady. they're all very nice, but there is a sort of optics issue that's going on here right now, both with the locals in this community and just generally, and i'll get into that. as we were first to report, bill gates, despite the difficult

year the microsoft founder had, is coming to sun valley, he's apparently going to give a seminar tomorrow and he's not just giving a seminar about business or whatever. he's giving a seminar about one of his pet projects, climate change, and what's fascinating about this seminar, neil, is that he's lectures moguls here, who flew in on their private jet s. i can't tell you how many private jets are at the local airport. so now why are private jets problematic? as you know those are the worst carbon emission vehicles in the planet, and they all have them. we don't know how gates is getting here, i'm presuming he's taking his private jet, the gates people have not gotten back to us with a comment, but it is starting to raise some eyebrows how a bunch of polluter s, which is what they are. they are here, all these media moguls, billionaires, i don't be grudge their private jets, i would like to fly in one, but they all flew here in their

private jets as they really do embrace a lot of woke causes at this conference. this conference is generally serving as a media conference, and some deal making goes on, on the side but this year, i guess this years agenda is decidedly woke. again, aside from climate change , that mr. gates is going to speak about they have stuff, they have seminars on criminal justice reform, and other social justice issues. it's pretty quite remarkable how left and woke it got this year, and it's understandable, after the year we've had. again, we should point out that sun valley residents are complaining about the corporate jets these guys are binging into town and the airport that it's delaying other flights so it's hard to get here if you're just the average joe wanting to vacation here because these guys are clogging up the air traffic. i should point out that all these sessions, and we're getting this from our sources, and there was a great job reporting this out through sources inside the place, these events are closed out to the media. as i likened the security staff

here they are very rigourous like bouncers at a nightclub in the hamptons they are pains in the rear ends to journalists so you have to ask sources about what's going on and that's what we're hearing. we have confirmed that gates is speaking on friday, on that climate change, controversial climate change issue, except all journalists are barred from inside and even asking certain questions about what's going on, the security staff will jump right in, except if you work for cnn and cnbc. i don't know how quite those outfits cover this objectively or fairly, when they have people inside the event, anderson cooper of cn n is conducting a seminar from what i understand on criminal justice issues. i saw becky quick of cnbc, a friend of mine, full disclosure and same with anderson, but i wonder how do they sort of strike a balance between being inside something that is closed off to the press, and if

something news worthy happens in there, do they tell their reporters because cnbc has reporters here. i don't know about cnn. it's a really weird vibe here this year, besides the fact that there's so much security, there's this optics issue with the climate change business of gates, and everybody flying in on jets, and these journalists acting as being part of, i mean, what was the abe rosen all line , just because you're cover ing the circus doesn't mean you have to hang out with the animals? i mean, it's something very weird about this , but thank god it's not my cross to bear, neil, back to you. neil: now where is your private jet parked by the way? how do you keep it incognito? charlie: [laughter] i hitchhiked here. i just got here, i started on sunday and i got here, you know, pretty quick, believe it or not neil: well you're quite the runner i know that so i have no doubt. thank you, charlie, charlie

gasparino his unique take on these things, the best. let's get the read from liz peek and mike murphy on this. this pow wow draws a lot of attention and guys i'd like to get your thoughts on it. normally at these events if i'm right, mike, someone somewhere makes a deal or starts talking about one, the genesis of these deals, oftentimes goes back to what was going on at sun valley. we've seen a lot of deals, a lot of merger activity. we came off a record first half for initial public offerings. do you think anything like that is going on here, mike? >> absolutely, neil. once you can get past charlie online to get into a nightclub in the hamptons i'm sure that people that are there are talking not just i think it's different this time, neil, coming out of the pandemic, because it's not just traditional deals that are going to get done. you have media and technology and financial technology and private companies and public

companies, and all of these are coming together, and so you're going to, you may see coming out of this a deal that no one saw coming or no one expected but you can be certain there's people with a lot of high priced stocks that they are going to use as down payments for companies. there's also people with a lot of cash on hand that are going to use that cash to acquire businesses, so this is, there's going to be a lot of deals coming out of here but it's only the beginning. there's a lot more m & a coming in the u.s. marketplace for the rest of this year. neil: and if you think about it, liz, so many of the key players today, like just a few years ago and social media concerns and they are being closely scrutinized either they want more content, they want to grow, sometimes between traditional media company and a social media company only, so sometimes we can get an inkling about what the future will be. what do you think it is? >> [laughter] well i think the social media companies are no big jeopardy,

neil. i mean, politicians on both sides of the aisle keep railing about one aspect or another of them getting sued by donald trump, they are being regulated by the eu, but guess what they keep getting bigger and stronger and they lead the stock market, you know, they are like independent nations honestly at this point. will there be deals coming out of this? holy mackrel, there's so much money around, neil, the cost of money is so low everyone and their uncle has done a spac, everyone needs to do a deal, so yeah, we're going to see some deals and my guess is technology will be one of the industries we see that in. neil: so the very sector that's getting hammered today, not across-the-board, amazon is a big exception, mike, is doing just fine, bottom line, just fine. don't worry about them. >> i think better than just fine. that's where the innovation is, neil, and so it's not doing just fine. that's where you want to be. if you want to know what's going to be moving in three years or five years, look at apple and amazon, look at google. that's where the innovation is.

neil: do you agree with that, liz? >> well, i would hope there are other new companies on the scene at that point. there won't be anything of that size in a matter of a couple of years or three years but let's hope innovation goes beyond these companies because honestly , there is some rationale to try to bridge their ability to simply gobble up all their be competitors. that's what they have been doing i think it's not incredibly stupid to say okay, enough. you've got a huge platform, you dominate various spaces, let's let some of these other companies that are challenging you with even better ideas kind of get somewhere on their own, and before they are bought. i do think there's attention there, neil. i'm pretty much a free market person, but it offends me to have these companies protect their enormous market share by buying up companies that are kind of coming in from nowhere with better ideas. there will always be new companies starting up in technology.

that's the genesis of this entire industry's success, but you know, these dominant companies have so much money, they could basically squash anybody they want. or buy. neil: the technology world keeps changing and squash them too, when they least expect it but very good point, liz. mike, thank you both very very much. you know, one thing we do know for sure not about the future of technology but the future of the airline travel of course is booming, and a lot of these airlines are caught sort of flat -footed. they don't have the manpower to deal with it in fact they don't have enough pilots to deal with it. jeff flock is seeing a new industry for just that, after this. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service.

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piper seminoles and the next generation of the nation's pilot s there's a flight instruct or there, and a new pilot to be , young lady with the hat on, will soon be a pilot. you're training the next generation of pilots because there's a huge deficit in pilots right now. neil take a look at these number s, by 2022 we're going to need worldwide 326,000 pilots. they say we're only going to have 316,000. you do the math. you've got a deficit there. have we got enough people on the pipeline? >> we don't. but we're working on it. mostly your collegiate aviation programs and your partner programs like delta and united airlines are putting together cadet programs to really help to minimize some of those numbers. reporter: it's going to get worse if we go out to 2029 it's a 60,000 pilot deficit , and the reasons for this , we had early retirements, we thought the coronavirus was going to alleviate the need for pilots, not so. >> no, and you know, we rebound

ed quicker than we thought, absolutely, and then you have everything leading up to it, that has caused and that will lead to that demand and people want to travel, and people want to go out there and fly, and so the demand is going to be there and it's going to grow. reporter: you're absolutely right on the demand. neil i leave you with the statistics from the 4th of july holiday. 10.1 million travelers through the tsa checkpoints that's 83% of what it typically be and it's going to get even worse if you're the one who wants to fly, but these folks here learning, they are twin engine aircraft and next thing you know they will be flying a 727 like the fedex one you see off in the distance there, neil? neil: jeff, that is good to hear pilots back in demand. they went through a rough patch there, so they deserve now, being sort of the belle of the ball we'll have more including details we're learning on the fascination haiti's president, in a word, gruesome,

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neil: all right, we are learning a little bit more the assassination of haiti's president and it is gruesome. the latest right now from ryan c hildcoe joining us out of london. ryan, what are you finding out?

>> now following the assassination of the president, without, it's not unreasonable to say that after that, the future of the country itself is rather uncertain. just to backup to what you were discussing there, the late president was killed in a pre- dawn attack on his home on wednesday morning, just yesterday, the gunman broke into the house, they shot him dead and they critically injured his wife. now as you know, haiti is no stranger to political in stability and it certainly wasn't under the now-late president, but things have gotten particularly precarious at the moment after this as you were describing grizzly attack. the country's prime minister has assumed leadership. he's got the support of both the police and the military but he himself was supposed to be replaced by another man who was then prime minister a day before the president's assassination. nerd, also this week on tuesday and it gets even more convoluted

according to the constitution, the head of the supreme court should be the one taking the helm but he just died of covid. haiti's first lady, meanwhile, has just been transferred to a hospital in miami but the violence in haiti itself continues violence always a problem there and its been raging nearly 15,000 people have been uprooted from their homes, just over the last month, forced to move as gangs fight over territory. now, neil, you know, haiti's no stranger to problems. 60% of the population lives on just under $60 a month, inflation is spiraling out of control, but in addition to those economic problems, they've now got this political crisis as well, neil? neil: ryan, thank you very much for that ryan chillcote, six people have been apprehended to ryan's point and our own ambassador there said it was an inside job as well, that there were other entities that got access to the home. we just don't know how far along this investigation is going, to robert charles the former bush 41 staffer, former bush 43

assistant secretary of state. robert i do want to address other issues like afghanistan but i'd be remiss if i ignored this one because it's raising a lot of questions. i'm just wondering what some of yours are? >> yeah, i mean, i think it's a sad turn of events, neil. we live in a world in which in stability is growing more common. this one is very close to us, obviously, so we're concerned about that, and concerned about the people. i mean, ultimately the united states has the greatest interest not only national security interest but interest in the safety, security, health of other people, around the world so i mean, i don't have anymore information than you just had reported there. i would just say that we're going to obviously try to track and help in every way we can. neil: you know, you think about it but the region and by the greater region, including south america, of course colombia and dark forces, they are showing their hand and it's a violent hand at that. we're seeing in venezuela of course an unstable government

again. i'm just beginning to wonder whether this region, this entire region bears watching? >> it bears watching, sure. look i spent a lot of time in colombia, peru, bolivia, central america almost all of those country, and look, we have been working with those countries to try to seed and support and reinforce rule of law, to turn down the volume of narcotics trafficking, to turn down the volume on terrorism. in colombia there's a lot of good news in the past that we ought to be reviewing in order to see how we get back there, you know, we did a lot there, that was good. neil: to afghanistan. before the pullout, all of the violence, the taliban seems to en trench itself, doesn't seem very fearful of american re prisal, what do you think? >> i think there are two or three things happening in afghanistan we just need to watch very closely. the first is because there's no peace accord and the prior

administration seemed on course for a peace accord, but it was a difficult thing to secure, but because we're pulling out without that police accord you're now going to see there's just no question an up surge of terrorist violence and it'll be al qaeda and isis and some others including the taliban and i think the afghan government as its on the public record is very much at risk and we need to do everything we can to support it. my own feeling and you and i have talked about this before is that on that front, we're probably not doing enough. we pulled the trip wire, so we're losing that opportunity, and i think it is true that when bad things happen, biden will own them, but we have a carrier battle group, the reagan, that is going to be off the shoreline and we just don't secure a country long term by having a carrier there. we did, as you and i talked about before, we pulled that carrier out of the western pacific so there is no carrier battle group for the first time

since 2003, during the iraq war. there is no carrier battle group around china right now which is very worrisome and that leads to the last point which is that china has been looking forward to this moment for three reasons one, they have the ability to move in and they don't have human rights concerns, they have the ability to move in, secure up up to $3 trillion worth of minerals here. second, they have other economic advantages, and by the way, that includes the 17 rare earth's that are hard to get at, and that china already has a lot of, and it also includes things like lithium and they have the highest reserves of copper in the world but they are also looking to expand their belt and road. neil: all right we'll watch it closely robert charles thank you very much. the president will be addressing all of these issues momentarily. stay with us.

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neil: all right. let's see what charles can do about getting this, well selloff in perspective. hey, charles. charles: neil, i will try my best, my friend. thank you very much. good afternoon, everyone. i'm charles payne. this is "making money." breaking now, wall street is getting the message that bonds are sending for weeks, that maybe the economy will not be a juggernaut much longer. like the old v-8 commercials epiphany hitting them on the noggin and sending them back to the. maybe we should be rooting for a taper tantrum.