i was always taught the british had lousy teeth because they eat so much sweets and candy which is apparently accurate. the swiss eat more chocolate than the brits or americans. producers giving a time cue, are laughing in my ear and getting on with it and ask neil cavuto how many cannoli will he eat in any one given year? neil, it is yours. neil: i won't share that. if 19-pounds wins you the biggest chocolate eating country they're pikers. i could do that at a sitting. excuse me? wait to go, switzerland. they have a claim to something but 19-pounds, really, whatever. stuart, great to see you again, my friend. we're following a lot of developments here, we got a what i call tri team coverage. tri as in three. edward lawrence on the inflation fronts with a lot of folks

worried and phil flynn on the oil front not going away by the way. new reports we could see them rise 50% by the end of the year. i don't get it. lauren simonetti following closely this crack down we're implementing on companies that do business in hong kong or at least the fear of a tit-for-tat once we crack down on china on how it has been operating in hong kong. it will be a mess, potentially, we'll see if that could be avoided. first to edward on the inflation front. we got a reminder today, it is not exactly fleeting or transitory, is it? >> we're seeing a three-month trend of inflation beating expectations. cpi inflation coming in year-over-year at 5.4% for all products. that is a huge increase. that is the largest increase since august of 2008. for month overmont, .9% increase. that is the largest increase since june of 2008. 2008 we're talking about tom

brady in the super bowl in a patriots uniform, not a tampa bay uniform. the feeling at white house is it is transitory because of bottlenecks and supply chain and people getting more vaccinations faster than they would happen and those folks going out, spending money on travel, restaurants and the like here. white house official tells me they believe it is transitory. we're not talking months but we're talking quarters. federal reserve chairman jerome powell is speaking in front of the house financial services committee. he will likely hold the line he believes inflation will come back down. some federal reserve presidents, district presidents are saying it may be well into next year before that happens but on the ground business owners are starting to say the increase in input costs they're facing might force price increases. >> obviously we all face that problem in the industry. we're continuing to work with ways to try to mitigate as much as possible, depending how persistent and how strong it is,

sure, some of that will ultimately have to get passed along to the consumer, but i think it is too early to tell how much impact that will have. reporter: when you drill down the consumer price index numbers, all types of gasoline increase, 45.1% over the past year. that cost will eventually be passed on into everything delivered to your home, grocery stores, restaurants. there is a fierce debate in the federal reserve that they should raise rates sooner as opposed to later but the president pitching for more and more spending with the infrastructure program but also wants to pass the american family as plan. american jobs plan. back to you, neil. neil: edward lawrence. should point out the core inflation report as edward was intimating, that was moving at 4 1/2% clip, the highest since 1991, that energy component we see face-to-face every day,

mostly when we go to fill upwhe, phil. >> neil, we're at a national average of 3:15. we have more states across the country paying $3 a gallon, the most since 2014. the sad thing it isn't going to come down. we talk about transitory a lot when it comes to the economic side but when it comes to your wallet you're not feeling it so much. take a look what happened on lumber. maybe we can see something like this happen in oil. we saw the price of lumber go up. you couldn't get enough of it. it went to all-time highs. it looked like it would never stop. all of a sudden in a very short period of time we brought the prices back down to where they were in the beginning of the year. now that sounds like a great deal, it does, but at the same time those prices are still twice as high as they were just a couple years ago. getting back to the oil prices and gasoline prices, usually after the 4th of july we say,

hey, we peaked out, we hit record demand t will only get better from here. not so much, neil. there is a real possibility we could see another major spike in gasoline prices next month. it is a warning from the international energy agency, basically says, that if opec doesn't come to an agreement to raise production right away, we're going to see supplies of oil dwindle significantly in the month of august. and of course if that means we don't have as much oil that means the price of gasoline could go up and it could go up dramatically. now interestingly enough with the prices go up, you would assume the u.s. oil producers would fall all over themselves to raise production. that is not happening, neil. concerns about regulations and more concerns about profitability are keeping these guys at bay right now. so a lot of this price increase is really going to be due to fall on the biden administration and their energy policy restricting u.s. energy

production. neil: no doubt about it, to your point all of this started with those, shutting down keystone and all of that. it wasn't a surprise but it did tick by tick move with that, whether you want to play the politics of it or not that's inarguable. so now unless they reverse that we could be in a pickle, right? >> we really could. i'll tell you what, the other thing you look at right now when you look at these gasoline supplies, they are below the five-year average right now. u.s. refining capacity is lower. and the thing we're seeing big oil companies not invest in fossil fuels. the biden administration is basically saying hey, don't invest in old technologies. invest in new technologies. while that is a great idea the problem is we're still reliant on the old technologies for our day-to-day is about. only 13% of the cars in the world are electric right now. most of them are running on fossil fuels. and now we're going to see the supply squeeze that could actually hurt the economic

recovery. that is a warning the international energy agency is saying, that the economic recovery is at risk because we don't have enough oil. which is kind of funny because this was the same organization that was telling people to stop investing in fossil fuels to meet carbon goals. i guess you can't have it both ways. stop investing. if you stop investing you get higher prices. if you get higher prices you hurt the economy. oh, what a vicious cycle we start to get into. neil: what is weird, my friend, we're begging opec to pony up and increase production while we're not doing that here in the united states. we have so much of it. phil flynn, so good seeing you again, my friend. thank you very much. >> thank you. neil: lauren simonetti with the other big story that we're following. china lately has been cracking down on hong kong and u.s. companies could get caught in the crossfire here. now the biden administration hinted it could crack down on their crack down. where are we on this?

lauren: this is the report from "the financial times," that the biden administration will warn u.s. companies of the risk of doing business in the major financial hub of hong kong. risk like using forced labor in the supply chains. that could be in violation of u.s. law. china could access sensitive corporate data that is stored in hong kong. there is a new law on beijing's books that allows it to impose sanctions on any entity who discriminates against them. think the demise of apple daily. who is at risk? neil, 282 companies list hong kong as the regional headquarters, 282, including at&t, bank of america, chevron, intel, united airlines, among the biggest employers there, jpmorgan, ibm, citi and morgan stanley. perhaps most at risk of a potential biden advisory would be google. those shares at a record high there but if hong kong green lights privacy law changes google may not be able to offer the services like maps. they were used during the 2019

protests that used location data to target police. also facebook. facebook and google already dropped plans that would connect hong kong and california via underseas cables. they might pull out completely. now there is disney, they operate a theme park in hong kong. the risks are tremendous. could be advisory we get from the administration, but also sanctions against chinese officials and individuals that are in hong kong. we'll see, neil. neil: lauren simonetti, thank you very much for that. want to go to dick grasso, the former new york stock exchange chairman around ceo. dick, so glad to have you here, if the markets are are worried about any of this, the dow is barely budging, s&p and nasdaq are at records again, there might be problems abroad, problems with inflation, all of that stuff but the markets march on. what do you make of them? >> well i think the biden administration's advice to companies, not just u.s. companies but global companies

doing business in hong kong is a very important message. beijing has a strategy to become the world's largest economy. some say by 2040. some say by 2050. they're not going to get even close to that objective if they continue to do what they have been doing in terms of human rights and in terms of restricting business practices. so i think that you know, the new president is being tested. he is being tested by beijing on this subject, by tehran on nuclear. by russia on cyber. i think he is right to push back and be tough on all three of those. look, the u.s. economy, neil, really on fire and you know, i think the greatest risk to our economic performance is not beijing, tehran or moscow. i think it is washington, d.c.

i think d.c. has got to right the ship in terms of spending, in terms of the allocations of credit, and what they expect of u.s. companies. i think we'll be just fine. neil: you know this is the great return to work that is going on post-pandemic that you and i talked about this but i want to talk about a lot of the guys you dealt with when you were running the exchange, the big investments banks, goldman sachs, jpmorgan chases both out with numbers today better than expected. those two firms in particular are all but ordering their workers to return to their offices in person and have proof they have been adequately vaccinated. what do you think of that, the push, particularly on the part of the big wall street guys to get back to your offices? >> well i think it is an important element, neil, of what makes whether it is financial

institutions in this country or american business in general, much more prosperous and global leaders. you know there is a synergy that develops when you have people in a conference room, when you have people kind of interacting with one another, bouncing ideas off one another. there is an energy. i think they're right to do it, neil. look, we all became enamoredded working in from our dining room tables and our p.j.s. that period is over. the pandemic has been defeated. it is time for americans and certainly those in the creative engines that drive this economy to get back to their offices and if you will, raise our economy and raise this great american experiment to levels it has never seen before. neil: as you know a up number of

brokerage houses,ed idea that you have to get back right away, we may have bifurcated staffs, some working virtually, others in person and that is meant to entice workers who feel the strong arm approach like the goldmans and jpmorgans are are taking are overdone. what do you think of that? >> look, the two companies that you term to be strong-arming employees are really the models. the, if you will franchises that all others aspire to become. i know there is a lot of talk today, neil, about, you know the up starts in the in the e space of financial services, the fintechs. but you know what? i'll bet on jpmorgan and goldman sachs every single day of the week, that they're going to set the standards. and by the way, neil, in the interests of full disclosure i not only say i bet on them, i

own them. have, currently around will always because jamie dimon and you know, david solomon, i mean are two of the smartest financial managers on the face of the planet and i think other competitors in their space will quickly embrace what jamie and david are doing. neil: we shall see my friend, dick grasso, former new york stock exchange chairman and ceo. very good to see you, dick. >> good to be with you, neil. neil: developing out of texas, you heard that democrats, most of them flu out of town in texas deny the republicans a quorum what would be a new voting rights bill. they argue it is too tough after voting rights bill. they got two private planes. we're not sure who funded all of this. we're told house democrat initiative to help them out on this. of the bottom line they won't be in town for the big volt. the message has come, if you're not back and soon, you will be

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♪. neil: take a look at amazon. that is an all-time high, by the way, folks,. it is up today. it is sprinting ahead in one of the better tech performers. jeff bezos out of the day-to-day running. likely focusing on his space initiatives, including his launching into space following richard branson next week. but for the time-being all of stellar for amazon. see what i did there, reaching for the heavens, new record. fine. you can see now other tech is doing today, very, very well. things not going well in texas right now as virtually all major democratic members of the house legislature there just bolted because they did not want to provide republican as quorum which to vote on what they call

restrictive new voting legislation here. they have done this a couple of times in the past, most recently around 2003-2004. they wented out a couple of chartered jets. don't know exactly who paid for them. we're told house democratic campaign committee poured by 100 grand for this. i don't know if that would have covered bolt both of these. they could be in trouble with the arm. the sergeant-at-arms with the legislature would be free to arrest them, approve their arrest returning to texas if that ever comes. casey stegall in austin with more. hey, casey. reporter: neil, there was some talk as to whether the speaker of the house had authority to send texas troopers out to get those lawmakers and bring them back to texas but, because they don't have jurisdiction in d.c., that is little muddy.

they did this last time in 2003, they were up near oklahoma which borders texas. so it was a little bit clearer at that time. the democrats say that they did start this special legislative session with the best of intentions in good faith with hopes of getting the work down. however they say it essentially fell apart over the weekend after listening to hours of opposition to the proposed voting bills but they say the republicans advanced them anyway. so at least 51 of the 67 democrats skipped down which means under the texas constitution there would not be a two thirds majority present for the legislation, any legislation to be voted on. those lawmakers say this they're prepared to say in d.c. for weeks until the session expires. >> we're living right now on borrowed time in texas. and we can't stay here indefinitely. to run out of clock, to stopp

republican anti-voter bills. that's why we need congress to act now and pass the for the people act. reporter: republican governor greg abbott says the two voting bills are necessary for election security and integrity. they include limits on 24 hour and early voting and as well as new i.d. requirements for mail-in ballots. abbott blasted the group for fleeing and warns they could be arrested upon their return to texas. and the house democrats tell fox that that is a risk they are willing to take to stand up for what they believe is the larger cause. neil? neil: casey stegall, thank you very much for that. let's go to byron york, "washington examiner," political correspondent, fox news contributor. byron, i'm not necessarily caring what peoples views are in this subject but we have a

electoral process that produced the overwhelming republican majority in the legislature there. you don't like that, change peoples minds at the polls. but to go home with your marbles to say the hell with it, they have done this before, i don't know, just begs credulity here but what do you make of all of this? >> well, it does. i mean the first thing to remember apparently is that voting rights activists don't fly commercial. they had a deal with a couple of jets. went off to washington. they're in the district. they have had a press conference on the capitol steps. they sang we shall overcome. they have done a show just today and stay there through august at least. so, what you point out in the legislature is really important. there are 150 members of the texas house. republicans have an 83 to 67 majority. that is a real majority. and there is simply no doubt

that the republican majority can pass this voting bill. by the way, on the substance of it, a lot of republicans point out that many features of this bill are entirely reasonable. for example, harris county where houston is, because of the pandemic, initiated 24 hour voting for a while and drive-through voting. both of which are not really practical things forever. the bill would change them. and republicans say, look that is not returning us to jim crow. that is simply making a reasonable change after the extraordinary measures that were imposed during the pandemic. nevertheless, democrats have fled the state. when they said they could be arrested i believe when they're arrested, if they were in the state of texas, they're not taken off to jail, they're taken to the capitol where they have to actually go to work. neil: i was wondering if this were reverse, republicans bolting didn't like what

democrats were coming up with in the u.s. house or even in the senate, people would be, pushing toe tar and feather them in the media. you had kamala harris i saying these legislators shown great courage. all right, they show great courage coming on private jets never afforded likes of martin luther king or any of those, i'm just wondering what defines great courage these days? >> well i think one of the reasons you heard vice president harris say things like this there is a second purpose to what the texas democrats are doing. one, they're fleeing the state to stop all legislative activity in texas so republicans can't pass this bill. the second thing, the reason they're in washington, they say, is to promote this for the people act, s-1, which is the big democratic voting bill that does not have a chance of passing. it doesn't even have the support

of every single democrat in the u.s. senate and remember, there are only 50. it is tied 50-50. plus even if it did, democrats would have to stop, would have to end the filibuster before they could go on. bottom line is, that is really not going to happen but what you are hearing texas democrats say, you just heard representative turner of texas say, that they're trying to buy time for democrats to pass this big national bill but it is simply not going to happen. neil: all right. we'll watch what happens. byron york, great chatting with you my friend. byron with the "washington examiner." couple of developments we're following on the vaccine front. the world health organization is out with a reprimand of richer countries pushing for booster shots that already received the vaccine. doesn't think it's a good idea. when so much of the world has yet to be vaccinated perhaps the emphasis should be put on

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and i enthusiastically recommend prevagen. it has helped me an awful lot. prevagen. healthier brain. better life. ♪. neil: all right. you've heard of the protests going on in cuba. now cuba's president is saying that the counterprotests are welcome and can hit the street as the rallies are beginning to ramp up here. so this thing is quickly potentially turning into a mess. phil keating has more from miami phil? reporter: neil, very few if any protests on the island nation of cuba yesterday as the authoritarian communist regime firmly re-established its tight grip on the island and its

people. the streets were mostly just a regular monday yesterday, very quiet. noticeably a larger police presence though than compared to sunday. around havana yesterday pretty much a normal monday with noticeably beefed up military as well and government loyalists. internet, social media platforms were shut down and remain so today. a communications blackout. the government freezing dissident's ability to coordinate and gather. still there were a few demonstrations, small ones in cuba monday which were quickly quashed by police making arrests. cuba's president addressed the country on state tv saying the illegal protesters got the punishment they deserve. remember public dissidents and criticism of the government in cuba, not legal. for the second straight night in miami's little havana neighborhood hundreds of americans came out to support

the american people, waved cuban flags and demanding change in cuba which miami cubans have done for 50 long and fruitless years. they want want the to intervene which the u.s. government has failed to do with the failed bay of pigs invasion in 1961. thousands of cubans marched in a dozen cities demanding freedom and ending food shortages, decades of rotten economy, chronic and widespread poverty and calling also for government change. last night some miami cuban-americans organizing small relief flotilla, filling their small boat with cases of water and food to take to the florida straits hoping to be allowed into cuba to give the supplies away. from miami to cuba on the north coast it is about a 250-mile journey and odds are very, very slim that the cuban government would actually allow these boats that are not authorized or invited to enter into any of

cuba's ports. neil? neil: phil, thank you very much for that, phil keating in miami. let's go to james carafano right now. james the heritage foundation president, head of national security and foreign policy. james, we've not seen uprisings like this, you know, for quite some time and normally, you know, very controlling governments have a way of snuffing them out. think of what happened in hong kong, what happened in china, even in the past what happened in cuba. this has a different sense and tone to it, but what do you make of what is happening? >> this is nature of authoritarian regimes, because they're so tight-lipped on information they tend to be very fragile. you don't realize they will collapse until they do. even the governments themselves don't know how weak they are n this case cuba has a very rigorous and powerful security infrastructure that is very loyal to the government.

the odds of this actually leading to the government stepping down are probably not good. i actually worry that we're going to get a worse out come here, because what this administration will do, oh, we have to rush to the aid of the cuban people. what that will mean, lifting sanctions, doing economic business with cuba. the problem with that is, everything in cuba goes through the regime. every nickel you put into that country they get a take on it. so opening up with cuba really will just double down on making the regime more powerful. neil: so what do we do? we want to encourage it and obviously you heard a lot from cuban exiles and those who fled cuba back in the '60s and their children, grandchildren at this stage, showing strong support for this movement but short of sending in troops, what do we do, what can we do? >> there are three things we should be doing. one is standing with the cuban people. unfortunately this administration, they don't

really want to antagonize the left of their party which actually embraces communism and socialism. they also don't want to lose votes in florida because it is a swing state. so they're trying to say something that sounds like they're procuban but not alienate people that love communism. that is kind of a loser. we need a powerful statement of support for the cuban people. the second thing is, we need to have an honest discussion in this country about socialism and communism. cuba shows where that happens. we need a serious discussion what does this society really tell us? should we really be embracing these ideas? i think the third thing is that this administration you know, should be doing is, sending out very, very clear signals that we will hold this regime accountable. people are being detained. they might throw people out of the country, start another boat lift. they are on pressing human rights. we will investigate. we'll find out who is doing this stuff. anybody that tramples on the

human rights of the citizens we'll hold them accountable but i don't think we'll get any of that. neil: so how does it all end? >> i think it ends with this administration actually trying to turn this into an excuse to open up to the cuban communists. that is how i think it ends. neil: all right. we'll watch closely. james, thank you very, very much. james carafano. again, we just don't know where and how they take it to the next level but we also heard that a number of dizzy dissidents haven scooped up by security forces. we don't know where they were taken. this sounds like the hong kong protests a little more than year-and-a-half ago. let's hope it doesn't end the same way. up dating you on the desperate quest for workers. mcdonald's is not only raising pay, inviting kid to come on over, even, help them out with college tuition, anything and everything to get them flipping burgers after this.

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♪. neil: we should still tell you that amazon hit record territory, advancing a little bit more than half a point right now to $3742 a share. more good news to share from the retail online giant, plans to hire 100,000 u.s. veterans and military spouses by 2024. speaking of which, proud american is coming up with charles payne. in fact the proud veteran special july 21st, taking a look at this often overlooked group of americans for whom really everything is at their

doing. that we seem to make possible. on wednesday july 21st, join charles as you takes a look at that. so many shrewdly not only from the military, marketplace, changed markets as we know them, looking forward to that on the 21st. we're following other events, whether you're a veteran or not. mcdonald's wants you. it is doing almost everything and anything you can to get but they have a devil of a time doing that, even in the face of record high wage offers, offering incentives with drivers to pick you up if you need a ride to get to the golden arches. even chipping in on college tuition. phil flynn, karol markowicz. this move from mcdonald's is more impressive than others but continues the theme where retailers and doing everything they can to get workers and they're still having a tough time. what do you make of this? >> if mcdonald's franchiseees

can afford to do it, great. the truth ills they're competing with the federal government who has unlimited money and nobody feels particularly pain for paying it. we have a situation where we have to roll back the covid unemployment checks that have been going out to people and get people back to work again. there is no way these private industries, no matter how big they are, even mcdonald's of the world can compete with the federal government sending checks to people to stay home. i owned a business. i know how hard it is. i know how small the margins are. it is not because the employer doesn't want to pay more. it is because you only have a certain number of money coming in. that is how much you have to pay your employees. until we get the checks from the government stops, this is just sort of fool's gold. neil: you know you think about it, fool, whatever people thought about it, extending federal unemployment benefits the new wave is coming of a lot of money, 300-dollar tax

credits, could go up to $3600, number of kids you have, air age range is, constructed to help get many out of poverty here but by keeping them dependent on government checks it could actually make it next to impossible for employers to find workers, right? >> you're absolutely right. that is one of the reasons we saw the inflation numbers get as hot as they are. i mean the government is creating a dislocation in the labor market by you know, overstimulating the economy and in sending checks to people that don't work. and karol is exactly right. they want to transform what it means to be a mcdonald's worker. they want to bring back benefits, something that went away in the last generation. and it could, over the long run have some positive effects for the big corporations. the problem is the smaller companies.

i'm near lake geneva, wisconsin, right now. we have restaurants are closing two or three days a week where normally they would be open because they cannot get workers. that is a really bad in an area that really has you know, the summer to make the maximum amount of their profit during the, the vacation season and because of this dislocation the prices are going up and people that come are not getting the type of service they would expect on vacation. you can't get the type of service because people aren't there. now i think that right now we're going to pay for this down the road. we're seeing it in the inflation numbers. we're seeing it to a certain point. even this extra money, more and more it is going to go to the devil of inflation and we're not going to see growth in the economy we need to see. neil: i want to thank you very much. jamie dimon among others have been commenting on these type of

developments. consumers may be raring to go right now but the problem for a lot of businesses trying to hire in the face of that consumer avalanche of buying, they don't have the workers. so we'll keep an eye on that. we're keeping an eye on students suing indiana university over its demand that they be vaccinated. it is an important legal case that could play out across the country. after this. uys! they have customized solutions to help our family's special needs... giving us confidence in our future... ...and in kevin's. voya. well planned. well invested. well protected. that building you're trying to buy, you should ten-x it. ten-x is the world's largest online commercial real estate exchange. and it's fast. if i could, i'd ten-x everything. like our lunch. (laughs) amazing! see it. want it. ten-x it. it's a wishlist on wheels.

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proven quality sleep is life-changing sleep. only from sleep number. ♪. reporter: welcome back to "cavuto: coast to coast." i'm aishah hasnie. a big debate is happening across the country over vaccine mandates. eight students in indiana filed a lawsuit, a federal lawsuit against indiana university over its covid vaccine mandate which requires all staff, students and faculty to be fully vaccinated before returning to campus in august. it is among the first lawsuits of its kind in the country. t could set a precedent. today a judge is going to look into whether to issue a preliminary injunction, temporarily stopping this from going into effect. originally the school also wanted proof of vaccination but the state's attorney general came in and said that policy was illegal under a new state law banning vaccine passports. in a statement a spokesperson

for indiana university writing this. the vaccine mandate is helping to support a return to safe and more normal operations this fall. the university is confident it will prevail in this case. but the attorney representing the students, he thinks they have a stronger case. listen. >> they have gone way over board with this. there is no state in the united states, there is no county in the united states, there is no city in the united states that is mandating vaccinations for anyone. >> what is more horrifying i think the culture created at the school. this culture you cannot present an alternative opinion. reporter: it is likely going to be a few weeks before we have a decision. in addition, three california state university students in chico also just filed their own lawsuit against that school for its vaccine mandate. neil? neil: all right.

aishah hasnie i apologize. go to dr. amesh adalja on all of this. people complain about their rights which i can understand. it builds up the trepidation about getting vaccinated period. politics, people's individual views have to be weighed but do you think we are in danger, that those who have not been vaccinated are still vulnerable to this? >> people who are not vaccinated are absolutely vulnerable to covid-19. what we're seeing with the delta variant, that is a disease of the unvaccinated. people in hospitals, people dying of covid-19 are largely unvaccinated. so i do think this is something we have to address as a society, that covid-19 continues to be a problem in parts of the united states by our own hand because we're not vaccinating enough individuals. i think we really have to make it the norm in society that people get protected. i think these universities are

doing the right thing wanting their student bodies to be vaccinated. they should do the same for the faculty. that will keep the school able to operate. you don't have a right to go to the school if you don't meet the criteria for admission. one of the criteria can be that you're fully vaccinated. neil: i was reading number of cases, seven per day avenuerage of 19,455 is up 50% from what it was just the prior period. i'm beginning to wonder this, this is something that is going to stick, and gain traction, what do you think? >> we have enough unvaccinated individuals that this delta variant that is more tank just will move among the populations that will translate into more cases and upticks in hospitalizations. hopefully the cases in general will be decoupled from hospitals in crisis, severe disease and death because so many high-risk individuals have been vaccinated but there are places where it is

getting difficult like springfield, missouri, for example. this is something we'll have to contend with. we'll still see cases. a lot of this is preventable because the vaccine getting into peoples arms is best way to stop this from spreading disrupting their life from covid-19. whether a mild or severe case it is all preventable with the vaccine. neil: it will be a packed crowd tonight in denver for the all-star game, i'm curious they are not requiring vaccinations, there are perhaps a large subset of that population that is not vaccinated. is there a risk of this being a superspreader event? >> anytime that you have clusters of unvaccinated individuals mixing with each other in a high-risk environment, whether that is indoors, whether they are not social distanced or not masked, you will see cases. those people will go back to the communities to spread cases. i think it all depends what those communities look like, how, impactful this will be. if you have got high-risk individuals that are getting

exposed, that is going to translate into hospitalizations. but if you're in a place where high risk individuals are largely vaccinated you will see that decoupling i mentioned where you will see cases but not necessarily a rise in hospitalizations. this is going to sort of be the new norm. covid-19 is not going anywhere. it established itself in the human population. what our goal right now is containment with the vaccine. neil: got it. doctor, thank you very much. whether that is an issue at tonight's all-star game is anyone's guess. they are expecting packed crowds nevertheless. we'll see. ♪

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♪♪ neil: all right, we have the s&p right now and the nasdaq both at records. the dow isn't doing as well, down 35 points. again, buoyed by better than expected earnings. expecting a very strong quarter for earnings up about 64-65% year-over-year. of course, that's a pretty easy comparison, but again banks

doing their part. keeping an eye on that, this despite inflation. the cpi, overall the cost of living has soared to levels we've not seen in many, many years. this is the third month running. so we'll be exploring that. also following the president of the united states who'll be in philadelphia today talking about voting rights, this at the same time a number of texas democrats have bolted from texas to deny republicans a quorum which they can force legislation on voting rights democrats say will im iminping voting -- impinge voting rights. the governor has made clear if they don't get back, they're violating the law, and they could be arrested. let's go to mark meredith at the white house. hey, mark. >> reporter: good afternoon. any moment now president biden's going to be making the short trip up to philadelphia, as you mentioned. that's where he's expected to speak out criticize ising harshly the different laws passed but republican-controlled

state legislatures. the president has made it very clear he is not a fan of these id checks that are going on as well as new limits on where and when early voting can happen. the white house certainly facing more pressure to speak out against these measures, and in his speech the president is also expected to criticize his predecessor's efforts and continuing efforts to challenge the 2020 results. >> -- efforts to strip the right to vote as authoritarian and anti-american. and stand up against the notion that politicians should be allowed the choose their voters or to support our system by replace independent election -- replace independent election authorities with partisan ones. >> reporter: a national reform package sponsored by democrats is stalling up on capitol hill. democrats are furious9 with the supreme court after a recent decision impacting arizona saying arizona's election reform measures can stand. republicans, though, insist changes are needed to protect the integrity of the ballot box. here's texas attorney general ken paxton.

>> certainly, the media has been harsh to republican efforts to reform some of the election issues that we saw in our last election. we have more voter fraud cases than we've ever had. that's a fact. so we we need to talk about the fact that we are dealing with this issue. >> reporter: but democrats in texas, they are pushing back hard against the lone star state's election reform measures. democratic state lawmakers, they have fled austin and made their way to washington, d.c., meeting with top lawmakers so that they can delay a special legislative session. but, neil, as you mentioned in the intro, there's already talk if republicans back in the state that they'll arrest those democrats when they get back to texas. this debate is not going to get over anytime soon. vice president kamala harris has thrown her support behind these democrats, we're waiting to see if they'll win president biden's here at the white house. neil. neil: mark meredith, thank you very much. you know, all this started, if you think about it, with georgia's new election law requirements here that were deemed so onerous by major

league baseball, that it canceled the all-star game there. instead it is being played tonight in denver. that's where you'll find our connell mcshane. >> reporter: hey there, neil. that's what, you're right, started this whole thing. and even though that announcement was made by major league baseball a few months ago, we did not completely escape the politics last night. if you watched the television broadcast of the home run derby last night, you may have picked out a commercial that ran, it was an ad a paid for by a committee that supports are republicans in the senate. and it was attacking democrats and reminding people that the game, indeed, was moved from atlanta to denver for that reason. being at the all-star game is also a chance for us to take stock of baseball from an economic perspective. even though the game still brings in big money in a lot of ways, there has been some concern in recent years about attendance about tv ratings with critics saying it just isn't as exciting for young fans as it

used to be or other sports still are. so we caught up with scott boris, one of the best known agents in baseball, talked about some of the ways maybe the game might change do to make it -- to make it more exciting. >> the skills of a player not exhibited by defense, having a shift where left-hand batters are at a great disadvantage where you're getting more outs. you've got a third baseman playing in right field making fantastic plays. that is a, that's something, for me, that needs to be dramatically looked at because it lessens action. [audio difficulty] >> reporter: no shortage of action from the angel player shohei ohtani who everybody is talking about here in endenver, the japanese star who might be the brightest of all at the game. he'll be the starting pitcher tonight for the american league and also the leadoff hitter. here's boris once again. >> he's such a remarkable athlete that you can look at him as being something in sport that we all have positional

excellence, and when you have someone in a sport that has multi-positional excellence, i think you can market him as something unique to all sport. [audio difficulty] >> reporter: -- talking about ohtani tonight, coverage gets going at 7 p.m. eastern time. neil. neil: all right. look forward to that, connell. connell shane in denver. dave sampson, you remember him, the former miami marlins it's almost as if all the back and forth about atlanta losing the game now this attention on this pitcher and leadoff hitter, which boggles the mind, that all that is sort of forgotten. or is it? what do you think? >> i think we should point out the reason why the all-star a game is not in atlanta is when that law was passed, the commissioner was put in a position where he had to move the all-star game because

players said to him through the union, we're not going to show up. and if the players don't show up, then what kind of all-star game will there be on fox? maybe you and i could be in the all-star game. as it stands, the commissioner wanted the actual all-stars to play, so they made the quick pivot to go to denver. i think they understand it's a slippery slope because they e don't want to get in the business of establishing and understanding the voting rights laws in every single host city. neil: yeah. the irony is some of the laws in place right now in colorado are, in fact, technically a little bit more onerous than in atlanta. but your point is well taken. i'm just wondering for the game itself, certainly we see packed stadiums not just for an all-star game, but across the country here. so baseball has rebounded mightily, you know, from the pandemic. how do you see it now as this, you know, unofficial halfway point to have season? >> well, i think it's great to see fans in the stands, but

please point misunderstand, everybody's -- don't misunderstand, having fans in the stands certainly helps with revenue. but you're trying to make up for a year where you lost pretty much all local revenue. baseball teams only played 60 games last year, so they only got 60 out of 160 in. that means their broadcast revenue was down, gate revenue was nonexistent, so they're really playing catch-up. and you're going to see that trick. down with player salaries going down or staying the same going forward. when you own a business and you lose revenue, you are going to cut expenses. neil: what do you make of -- and connell mcshane was just reporting on it -- for younger fans, they're not so big fans. they're not really into it. they find it to be boring, and there's this talk how to we rev it up a little bit. is that a legitimate concern? >> it's an amazing narrative, but it's something that in my 18 years of major league baseball we worked on trying to get the demographic younger and younger because it was getting older and

older and, verge big, that's -- eventually, that's a bad plan for a business. commissioner rob manfred came in and started an initiative trying to get kids involved in playing the game so they could be fans. he's brought in theo epstein with the cubs and red sox, futcher hall of famer -- future hall of chairman, to help action. there's a whole committee about not pace of play, it's okay to have a three-hour game, but how about something other than a strikeout, a walk or a home run. so you will see some rules that change over time, but it's strange. baseball's under such scrutiny. when we change one thing, it's as though the world stops spring, but other sports change rules every year, and no one says a word. neil: yeah. it's held on through all that, right? dave sampson, good seeing you again. thank you very much. all right. let's go to favorite guys here, baseball fans, mike -- and todd

piro. this guy's everywhere, fox and friends' first cohost. early riser, to put it mildly. todd, we have heard of changes in baseball, speeding up the game. i've always argued if they could make the game last as long as the highlights on the evening news, i'd watch. [laughter] i'm just wondering -- i'm kidding. especially when i saw that fox has the gamen tonight. but my point is -- [laughter] this has been talked about for a long time, and last time i checked, baseball's surviving. >> yeah. i just think if we cave to every demand of gen-z, we're not going to have any traditions left are. and baseball is a game where traditions are the core, the stats are the core. people can hit a home run record in 2021 and have it compared to some sort of record in the early 1900s, even the 1800s. there's no other sport that can really do that to that effect. and so you heard the guest

before us talk about changing strikeouts and hits and walks. well, that's fundamentally going to change baseball and, quite frankly, if we do that, i think the damage is going to be incalculable to the game. neil: mike, i think he's talking about you, your generation -- >> yeah. neil: -- because you've destroyed it for everybody. i hope you feel good about it. >> no, that's essentially what's happened. i like to call it the a.t.d. generation -- a.d.d. generation -- [laughter] we can't pay attention to anything. we're on our cell phones, we're on tiktok swiping nonstop. and that's the problem bake's facing. -- baseball's facing right now. they're terrible at their own marketing, okay? mike trout is the best in baseball for the last decade, he can walk outside my apartment in new york city, and nobody would care about him. lebron james walks by, tom

brady walks by with, people care. so baseball's really hurting from a marketing standpoint. and then that game play. we're at the highest average, three hours plus a game right now, strikeouts at an all-time high, no-hitters at an all-time high. where's the excitement in that? that's where baseball's going to find the problem. you had the atlanta thing, moving from atlanta to denver, you just turned off half of your audience. why would you do that right now? baseball seems like everything bad is happening for them if you're commissioner rob manfred. neil: you know, then we had this sold of wildcard business thrown in about these surges in cases, covid cases right now. i don't believe, and you guys might know this better than i, they're screening people who have been vaccinated or not into denver stadium, but the fact of the matter is they're concerned, the nih and some of these other facilities, about a spike in cases and whether events like this risk being a super-spreader event which as you know, todd,

in tokyo they've taken matters into their own hands, no fans in the stands, vaccinated or not. where's all this going? >> there's a much different situation in tokyo versus in the united states when it comes to vaccinations. but where is all this going, i think dr. michael gun zelman dds which i call him because i think that's what his name really should be, i think he brings up a key point. there are problems in the game that you can change without changing the game. nobody wants to strike out, nobody wants to see strikeouts except for pitchers. when you're coming off a year when you had covid impacts like you mentioned, neil, maybe we don't turn the ball into something that nobody can hit. and by nobody, of course, mike and i are referring to our team, the yankees. they're horrible this year -- [laughter] because they -- [laughter] and then once we get our pitching in gear, they turn our pitcher into a shell of his former self by saying midstream,

oh, you can't use any substances on the ball. i'm kind of making a joke, but i'm kind of not. major league baseball needs to figure out how to get its act together just in general. let the traditions of the game be and stop tinkering with the things that people like; i.e., home runs. and to gunz's point, market the sport. people should know who mike trout is, people should know who the superstars are on the coast with the dodgers and padres, and they just don't. neil: i do find that a major league baseball is forever putting its finger up in the wind trying to test which is the way to respond, politically correct on voting rights issues or you name it and a host of others who might protest the anthem, what have you. and i think when you're too busy doing that, your eye is off the real issue, the ball game, and the future of the ball game, you know? >> that's the whole thing. like, what do they really stand

for? if they're not consistent or proud of what, you know, the willing legacy of the sport -- the legacy of the sport, they'll change every which way. and, neil, on top of all this, it's important to mention the collective bargaining agreement is up in december. so baseball may very well have a strike or a lockout starting next year. that is a very high possibility. so on top of all these other issues, this may be a strike involved in baseball as well which would just tear it up even further. neil: all right. hopefully, it doesn't come to that. gentlemen, i do want to pick your brain later about elon musk. he doesn't really like being ceo, he made that painfully clear. i want to pick your brains about that later on. in the meantime, want to bring you up-to-date on what's happening right now with these earnings. we're still early in the season. you talk about some boffo numbers here, they're off the charts. expecting earnings year-over-year to be up in excess of 64% over the prior year earnings. but is that baked into the cake?

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♪ neil: all right, the president arrived at joint base andrews, he's heading off to philadelphia later today the talk about voting protections, the kind of moves that republicans have made in better than 17 states right now are the type of things that risk those voter protections. he wants to address that as a majority of texas legislators, democratic texas legislators, have escaped texas to, you know, put republican efforts to change laws will there at risk and deny them the quorum they would need to proceed. but the president isn't only addressing those issues, he's also talking about hong kong right now, china's crabdown on hong kong -- crackdown and specifically warning businesses that they could get caught in the crossfire. edward lawrence with more on that story. >> reporter: yeah, neil, the

financial times is reporting the administration about to give that warning to u.s. companies about doing business in hong kong. the chinese have been tightening their grip on that city for about seven months or so. it all started with the new national security law from china that would allow the chinese to extradite any criminal to to the mainland. now the chinese have set up committee os to approve what candidates could go on ballots. police raided a newspaper publishing democracy or pushing democracy for hong kong and arrested those employees. now, from the u.s. government the warning is expected to lift china requiring access to data, also the possibility of imprison. for any hint of doing something that the chinese don't agree with. the chinese foreign ministry spokesperson said hong kong is an internal issue adding, the basic law of hong kong cleary protect the rights and -- clearly protect the rights and interests of foreign investors. the society in hong kong is returned to the right track, and

the pearl of the orient has become even more shiny. the so-called advisory to be issued by the u.s. side is typically a political manipulation with a double standard. as you see the president exiting marine one there, we're not expecting to see that warning today about hong kong, but it could send 282 -- affect 282 u.s. companies. however this morning six departments within the administration did reissue that warning about the shenyang chai nice business advisory, warning companies against doing business in china because of the treatment of the uyghur, labor catches, human rights abuses -- labor camps as well as the treatment they are facing there. china denies all of it, neil, but the u.s. still making that warning. back to you. neil: thank you, edward, very much. want to go to mark matheson on this, you know, mark, outside events over which companies or for that matter our own country

can't get control, that's not a recent event. that's been going on a while. so i would imagine a number of u.s. companies have already scaled back efforts there. does that influence your stock selection when i see half plus of the fortune 500 companies still have ample exposure? >> well, yeah, well, that's a great question, neil. look, investors have to be very skeptical trying to predict the future in any way, shape, form or fashion obviously including what the a heads of foreign governments are going to do and want new laws either tax wise or other litigation or legal laws would be. therefore, you've got to diversify. most investors, when we analyze their portfolio, are vastly underdiversified. and we believe an investor should be invested in over 80 countries, and in our portfolios china might only be in the ballpark of 1-2%. so it's a very small portion

because, as to your point, neil, you don't know what's going to happen next, and anyone thinks they can accurately predict the future, that's a fool's errand. neil yeah, i hear you. mark, it has been something of a stunner to looked at the market dismissing all these concerns. the hong kong stuff just the latest, inflation reports, a constant reminder that the markets maybe really believe transitory developments. but maybe they're ignoring it, they're not. but they continue to climb. the s&p and the nasdaq at records yet again today, the tow not that far. what do you make of all this? >> i think investors really need to focus on inflation. i can remember in the mid '70s, early '70s inflation was as high as 12 or 13%. historically, it's been in the 3% range. we haven't seen that for quite a while though. if it does start to creep up, investors need to be focused on two things. one is high quality short-term fixed income which will rise slowly with it, and then

equities long term. and equities historically have had about a 10% rate of return, inflation in the 3 ballpark, is so you want to keep ahead of inflation. a warning to investors, do not try to hedge this with gold. gold is a terrible hedge on flakes. massive volatility -- on inflation. historically only about a 5% rate of return. stay away from that and at all costs more exoticking speculating things like bitcoin. neil: would you stay on investing in the market averages, proxies for them to that extent? how would you play it? >> well, i think you need to be about 30, 25-30% u.s., 30-40% international and then have a nice balance and some high quality short-term fixed income. because we haven't really seen since the beginning of 020 we haven't -- 2020 we haven't seen a big market downturn yet. and it reminds -- a little bit reminiscent of the crash when

the s&p and nasdaq were at all-time highs early 2000. we know what happened then. the s&p dropped off 50%. the nasdaq stocks dropped about 75% during that time period. investors are way too overweighted on the u.s., way too overweighted in tech stocks. and if a similar situation happens in the future, they're going to pay a heavy price that they don't even know is possible they're going to have to pay. neil: yikes. mark matson, we used to have double-digit inflation rates. that was a long time ago. we're a long way from there, but it's not as if we're immune to that in the future. by the way, i want to pass along a report from "the new york times" that, you know, ransomware russian entity that was attacking so many u.s. incidents, you know, or industries has shut down. the ransomware group has disappeared online. it's unclear who kiss abled

them -- disabled them. this comes a few days after president biden asked president putin to put a stop of this. they've now mysteriously disappeared online. we'll keep track of that. we're also keeping track of crime because it is still a rampant issue across the country. democrats are worried, folks are worried, and people of all ethnic backgrounds and persuasions and income groups are really worried. the latest after this. ♪♪ all along the watchtower -- ♪

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♪♪ neil: all right, we knew that crime numbers were bad, but in chicago we didn't realize they were this bad. new data that has folks really alarmed. let's get the latest from grady trimble in chicago with more. grady. >> reporter: hey, neil. 2,000 shootings, more than 2,000 shootings this year so far. and business owners are telling us they're starting to see the effects of the recent spike in violence as well. in fact, we talked to the other than of this food truck, aztec dave's, this is essentially a dispatch area for a number of food trucks, and he says he just ordered cameras to put on all of his trucks, new procedures for employees if they feel threatened or unsafe. and it's not just shootings that have been spiking recently. citywide sexual assaults are up, theft is up 26% compared to a year ago, same with rob roy and aggravate -- robbery and aggravated battery. the owner of ramon's tells us

the city needs to protect its residents and businesses. >> their job is to keep our city safe. we expect that. so we want the high positions on the force and the mayor's office to do their part to insure they're not excluding any neighborhoods or sectors of business. we want with them to do their jobs, to be held accountable bl, and we want our city to be safe. >> reporter: police superintendent david brown was one of several law enforcement officials who met with president biden at the white house yesterday. he says they discussed a number of solutions including keeping violent offenders in jail longer and keeping illegal guns outside of major u.s. cities. listen. >> there was an emphasis amongst a group of stopping the flow of illegal guns into our cities. it's key to softing some of -- solving some of the violent crimes that we're seeing. >> reporter: mayor lori lightfoot if also says she would welcome federal agents from the

atf, fbi and dea to get a handle on this spike in crime, but she as well as the police superintendent, neil, under a lot of pressure from business owners and people in the city of chicago to get a handle on things. neil: grady, thank you very much. grady trimble in the chicago. by the way, not just chicago, this is happening everywhere. in new york, for example, where it's also out of control, at least some of the numbers historic, to put it mildly. joe borelli is new york city council minority whip, republican, he says he's seen it in his neighborhood. joe, what is the answer then? i mean, the push for more police is on. eric adams, who is the democratic mayoral candidate, was open to the idea but says that's only part of the solution. so what that do you see? >> in that respect, actually right, you know? having more officers who are restrained from doing their job won't really address the situation at all. we need -- and he's aware of this, by the way. eric was a police officer if, he was a captain. he's certainly aware of what

needs to be done. the question for him is whether he has the judges to stand up to some of the -- the gumption to stand up against some of the liberal base of his party. he talked about restoring the anti-crime teams, sort of the brave of the brave in some respects. these are people who go out and try to pull guns out of the hands of criminals before they use them. he's talked about bail reform and restoring it. in fact, we just had an op-ed in "the new york post," today's new york post from one of the most progressive district attorneys in the state, the albany county district attorney, david sores, who had pointed out that it's largely because of bail reform that we're having these problems. we are able to arrest people, we are able to solve some cases, solve some gun crimes, we are able to make gun collars on the street. but when anyone arrested for these crimes is released and home for dinner whether they have bail or they have bail that they can afford just because of the way the law is structured. it's not really solving

anything. neil: while i have you as a council member of new york, if you didn't show up for a vote or you and your fellow republicans just bolted, would you be arrested? >> i'm not sure if we could get arrested, but i know the state police when i was in the state legislature could force us to be present in the statehouse. so there probably is some criminal liability in this state as well. but at the end of the day, i mean, this is an example of just plain cowardice. the people of the state of texas elected a republican majority. the people of my state elected a democrat majority, and i've had to sit there and do my best to oppose legislation. but at the end of the day, we often times lose the fight. that's where the dem account accurates are in texas. and -- democrats are in action. and instead of taking a plane and going to washington and making it out to be this great sacrifice, they should stay and try to convince the people of texas why their plan for their state's future is the right one instead of cutting tail and running. neil: yeah. state your case. joe, thank you very much.

joe borelli, to that point. we're learning that vice president kamala harris will be meeting with those texas democrats who have left the state in texas, we just don't know exactly when. we'll have more after this. but i know i've got this. and when it comes to controlling his type 2 diabetes, my dad's got this, too. with the right choices, you have it in you to control your a1c and once-weekly trulicity may help. most people taking trulicity reached an a1c under 7%. and it starts lowering blood sugar from the first dose, by helping your body release the insulin it's already making. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, changes in vision, or diabetic retinopathy. serious side effects may include pancreatitis. taking trulicity with sulfonylurea or insulin

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♪ neil: could this be the storm after the calm? the low-key sun valley big powwow media moguls, and now we're hearing of deals? who knows? charlie gasparino just back, he has a are refresher on what he learned. what do you think? >> great seeing you again, neil. listen, two years ago fox sold -- or disney spun out its regional sports networks that it took as part of the fox deal. they sold it to sinclair for $10 billion. everybody thought it was a great deal at the time. it's proving not to be such a great deal right now. what is a regional sports network, that's essentially a cable network that features sports. baseball is big into this because baseball's a very regional sport, and you pay a cable fee to watch your favorite

team, say you're in miami, the marlins. sinclair owns most of them. the problem with this model mow is cord-cutting, and it's really squeezing revenues at many of the regional sports networks, just not making a lot of money or any money. this happened, this topic came up at the sun valley media concerns where bob man item fred -- manfred, the commissioner of mayor league baseball with, brought up problems, and he's really worried about the future of these rsns, particularly those owned by sinclair which, quite frankly, overpaid two years ago, $10 billion in a cord-cutting environment. i know baseball has a lot of problems, very controversial moving the all-star game which is tonight, i believe, out of atlanta over the voting rights law to coors stadium in denver. but from a business standpoint, this is pretty huge because teams rely on these regional

sports networks essentially to make money. they get money from the sun claires, from the broadcasters -- sinclairs, from the broadcasters to take their games, and they lease out their rights. they're not getting as much money right now because of the cord kitting. so major -- cord cutting. so it's possibly one of the bigger, biggest problems that from a business standpoint in particular that bob manfred faces. and what we hear, a lot of people talking about is more consolidation into this area. maybe sinclair buys more stations, you know in what's going on with the meants? if they have a -- the mets? they have a regional sports or network, sny, it's owned partially by the innocents, partially by comcast, i believe, and guess what in they're having a hard time trying the find suitors. this is a pickle for manfred, and this is a way that teams make a lot of money. it used to be a huge business. it's the sort of canary in the

coal mine of broadcasting right now. we're seeing the cord cutting happen right here. i remember when i worked at a magazine, "newsweek," when people started not reading papers as much and going to this. the magazines were the first to go. eventually, it hit newspapers and everything else. this was a little bit of the canary in the coal mine for the broadcast industry, neil. back to you. if. neil: indeed. we're giving away our age here, charlie. we shouldn't do this. [laughter] >> i give away my age every day. if. neil: yeah. fortunately, you're no well near the number, my friend. i'm at the number and above. all right. charlie gasparino following that. you might have heard this line, by the way, elon musk. i rather hate being ceo. the guy's one of the richest on planet, and he hates the job that has provided it. weird, don't you think? after this. ♪♪ if

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♪ >> welcome back to "cavuto coast to coast," i'm hillary vaughn. president biden pledges to buy men and hire american but also to not let any foreign companies get their hands on

taxpayer-funded contracts. >> there's a law. it was passed in the '30s. it doesn't violate any trade commission. saying whatever program that taxpayers are paying for, you can spend it all on american contractors. i promise you, there'll be no contract let to a foreign company. or any of the product down the line. >> reporter: but that promise is getting partly derail by amtrak after they awarded a more than $3 billion government contract to a german-owned company, siemens mobility. quote, we have vendors from all around the world express interest. in the u.s. there are several manufacturers with a presence here but some larger than others. and the white house does not hand out those bids. but taxpayers are bankrolling them. amtrak is using taxpayer money.

siemens says -- or the contract itself is helping biden follow through on his pledge to hire american. siemens says the trains will be built here in the u.s. at their plant in sacramento, california. that will employ over 2,000 people, and siemens says they'll utilize their robust u.s. supply chain representing over 2,000 suppliers from more than 40 states. but a department of transportation spokesperson promises that this contract will comply with the buy america standards from the federal railroad administration and plugging the bipartisan infrastructure plan congress is negotiating now saying this: the secretary and the administration continue to urge passage of the bipartisan infrastructure framework which would encourage job creation and investment by american-owned companies in this sector. but, neil, that taxpayer money for this project is still going overseas. see mens is based in germany, and they're going to be benefiting from this 3 billion

government contract at the end of the day. neil? neil: thank you very much for that, hillary vaughn. in the meantime, i don't know how many of you have been following this elon musk court hearing thats's going on concerning tesla's purchase of solar city, but, of course, at the heart of this is where whether he was intimately involved in something that came back to haunt him, proponent for saying they really hadn't examined the details of that, that he has been saying that he has a rather distant relationship9 with the company and argueed i rather hate being ceo of tesla. of course, he is the name behind it and the moniker for it, if you think about it. mike gunzelman back with us, todd pie roar. todd, what -- todd piro. he's saying i'm not really into the day-to-day details of running tesla. he would not be the first visionary who is bored by day to day operations, but he does protest too much because he likes having it both ways. what do we make of this.

>> i look at this from the lawyer perspective. there's a little bit of, oh, i'm just a geek. i like the science part of this. i don't really like the ceo thing to try to convince the court that, hey, i'm not necessarily responsible for the acts that i may or may not have committed. and, look, who knows whether or not that is true or not, only elon musk truly knows that. i think there is something to be said for these very, very, very successful individuals regardless of profession who really like the ultimate thing that got them there. and in elon musk's case, that is science. i look at my profession, it really wasn't until the 2000s that lawyers realizedded, hey, we're running a business here, we need to run it as a business. i know tons of lawyers who want all the business stuff to be handled by somebody else. the current world that we work in, especially tesla, when you are a publicly-traded company, can't necessarily do that. neil: you think of solar city and that purchase at the time, not to get in the weeds here, but it was a prom technology, batteries -- promising

technology, batteries and all the rest. i'm sort of chasing it to the simplest roots here. it would make sense for him to buy it, right? and now he, with all the problems that have cropped up and all the suits, he could say, well, i really wasn't mired in these details. but this has come up with the likes of steve jobs and bill gates in the early days of microsoft and why they really didn't like getting into the weeds or the day-to-day operation. the vision thing, fine. but the weeds, not so fine. what do you think of it? >> yeah. no, and i chi kind of -- kind of actually believe elon, the fact that he wanted only to be a part for the part that he liked of it. and my response would be like, well, what did you think you were getting involved in? this is what comes with it. now, sure it's nice to be, you know, 100 plus billionaire like he is, sure it's nice the make all those billions, but he doesn't want to be testifying right now. he wants to start mining on the

moon and going the mars with humans. of course elon now is like i don't know what you're talking about, i would rather hate being participant of ceo. -- part of ceo. but i would say coming from my limited experience on the legal side of things, but we just being somebody who doesn't hold back their opinion, i am so over elon musk, by the way, all right? "saturday night live," i'm over elon musk and also, why? because i own dogecoin, all right? [laughter] i'm trying to eat steak dinners, and instead i'm eating hot pockets right now because he keeps driving down the cost. [laughter] so i'm over elon musk. it was cool in the beginning, but i'm tired of him tweeting on every little thing. peace, i'm out. neil: it becomes all about gunz. exactly. >> i bought $5 worth of ethereum

so that when i do "varney," i have some plausible deniability. you have that. neil: you know, if you think about what musk and some of these others have done, when their companies get to a certain heft and then they're con glom conglomerates, then their corporations have to be run by corporations. they need seasoned executives, and i think that's when it gets boring to the visionaryings. it happened to michael dell, certainly to the to steve to jobs, jeff bezos leaving day-to-day running of amazon. there gets to be a point where it's not exciting anymore. they like the start-up; that is, you know, musk with space, that excites them. virgin galactic, that excites richard branson. the day the day running of the company when they become conglomerates, that's too boring for words. what do you think? >> right, because at that point, neil, as you well know, the number one thing for the company is shareholder profits. for those individuals that have

reached that stratosphere, yes, they like to be number one, two, three on those lists. but at the end of the day, that is not doing it for them. and to your point, they need that other thing to keep them driving because, ultimately, that was the drive that got them to build up their companies to this point anyway. neil: all right. >> now, the three of us -- maybe neil, but i know gunz and i, we are nowhere near that point. we're still hungry, still grinding, still doing it, so, you know, i don't understand that. but, again, when you reach the pinnacle of neil cavuto, it's a different world. neil: we're in a different world. gunz, still hungry, but that's specifically because he's hungry. [laughter] guys, thank you very much. good read on that. we should all have elon musk's problems. more after this. ♪ so you only pay for what you need. oh um, doug can we talk about something other than work, it's the weekend.

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neil: the dow, s&p, nasdaq in record territory. now charles payne. hey, charles. charles: thank you very much my friend. good afternoon, i'm charles payne. this is "making money." big banks crushing on earnings and well, their stocks tumble. underscoring the feeling by a lot this is as good as it gets when it comes to corporate earnings. we have the market pros that walk you through all of this. inflation numbers blow the through off the record books. guess what, bond yields go lower. instead of clarity we'll finish the day with even more