we wonder 10 >> i think what we are on the edge of, on the edge of space, we are on the edge of the next generation going into space, that is the dream of jeff bezos, he said to neil cavuto he wanted the next generation to go into space. we are at t minus 12 minutes 20 second. stuart: we are counting down. a little delay, great coverage so far. we are 13 minutes away from the launch of the "new shepard". it will carry the richest person in the world into space, jeff bezos, at latest count he is worth $206 billion. we are 11 minutes and 23, 22,

21 seconds from the actual launch. we've seen the astronauts, they will become astronauts in 15, 20 minutes time, load into the capsule at the top of the rocket, jeff bezos, his brother mark, 18-year-old oliver daemen, 82-year-old wally funk and they are ready to take off in 11 minutes. i'm joined by former astronaut tom jones. welcome to the program. tell me what the astronauts are feeling right now, heart beating quickly i take it? >> i think you have to focus on the emergency procedures you've been trained to do, be ready for any unexpected emergency. i don't think we will see one of those today but you have to focus on what you do in case you have to get out of the rocket in an emergency and

there's the anticipation of all the training and hard work to get to this point for wally funk and oliver daemen and the bezos brothers, and what will the view be like? stuart: what it is like to be up there in that little capsule. jeff flock on the ground. there's been a slight delay. any idea why that delay? >> we didn't get a report on that. we were monitoring mission control but i'm not getting a an indication. they said it was a brief holding we were told earlier to expect that. i don't think there is any problem as far as we know and we are good to go. you will see over our shoulder the dramatic pictures, multiple camera rows of the blue origin

team has put out, the thrust of the rocket very up close and personal and you will not see, what you will not see his inside the capsule. we haven't seen anything yet and won't see it during the flight, we will see some tape once they come back down and this will be a short flight, we are talking 10 minutes here. 10 minutes? that's all? that's a lot less that can go wrong then when you are up there than an hour. stuart: when they do take off in 9 minutes time it will take 3 to 4 minutes to get up to that 16 mile barrier, then they float around weightlessly 3 to 4 minutes and then come back down again and as you say it is a 10 to 11 minute deal. that is it. >> reporter: i sense mister varney thinks he's not getting his money's worth if putting

his money on the line. the $28 million was the first flight and the fellow that replaced the guy who offered $28 million is not paying as much. we believe it is in the millions with the idea is to bring the price down. i don't know if it will get low enough to let stuart varney get on this spacecraft for a 10 minute thrill. stuart: i find the whole thing very very exciting. i think jeff bezos will get his money's worth, he liquidates $1 billion every year, he has financed this. i think the result of this could be really spectacular because for the first time ordinary people can go to the edge of space and who knows where they go after this. are they planning a bigger rocket, the john glenn rocket next. >> reporter: that is the one, that is the one they are going to put into orbit.

elon musk has plans to put space travelers into orbit, that is the vision for bezos as well. and a third program called the blue moon, that is the program destined to take people to the moon and so whether this works or not, jeff bezos is rich but not made of money, the money he gets from taking people on these trips helps finance this whole operation which he has put $1 billion in 2 himself. you need money to make this work. stuart: nasa astronaut tom jones, come back in. this is more than just a up into a couple billionaires. this is much more than space tourism. >> indeed. tourism is the first step to

prove the reliability of the rockets that jeff bezos is building and that reliability demonstrated he hopes to get big contrast from the space fourth and nasa for his new glam rocket that have heavy lift capability that could be useful in our return to the moon or putting critical national security assets in the space and that is where the pain that comes for bezos's company to get big government contracts for construction of the private space station down the line into resume going on in the background, and rather than bring in the income stream, >> private money is taking over from you guys at nasa. are you okay with that? >> it will take over some, and hauling cargo, assembling in

orbit and on the frontier where you are returning to the moon or going on to mars that is where nasa will have the primary role, in a supporting contrast, no other institution has the moxie and the funding. stuart: there's other news before the rocket takes off in four minutes and 40 seconds to go. we do have a minor-league bounce back on the stock market, we looking at the futures hoping 90 points higher after a drop for the dow industrials yesterday. a big news in the crypto currency market, bitcoin has dropped below 30,$000 per coin but the story quite clearly the spaceflight, the first human

flight of blue origin, jeff flock, great excitement. >> a tweet from the blue origin team this rocket is go for lunch right now so we don't expect any delays a message of the red flag, looking at 3:56, they are go for lunch, get ready to bend back in your seat if you are aboard that aircraft right now. stuart: joining us is the editor-in-chief of space.com, this is more than space tourism by a couple billionaires. >> this is the start of what may be not just a new form of travel but the beginnings of a new economy of spaceflight

where you don't have to train a decade plus or to launch your science experiments or products you are trying to develop into space. that is what we are seeing here with this flight of jeff bezos, the start of what they hope will be a multitier economy. on the one end you've got real access for schools, companies who are trying to develop technology, build new products. stuart: jeff flock, come back in again, we will see the rocket take off, we've got that, the rocket going up but do we lose track of it visually? >> reporter: yes, you will indeed because it will get high enough you can't see it and there's nothing on board, we saw people walk on the moon, they don't have the same capabilities to show you what

this rocket will look like. we are approaching two minutes. once we hit two minutes, we will get into auto sequence controlled by the vehicle itself if there's any pressure problems, then we get a shut down and wait, and it is all go until that happens and we are 2 minutes, inside two minutes away. what you will see you will see tremendous picture of the firing of the rocket. a lot of smoke and stuff and fire, you will see it go up and i think we will be able to see based on the cameras we are provided with the separation, the big rocket come off that we see in the nasa launches and then we won't be seeing anything for a while. the weightlessness stuff they will be shooting inside the

cabin. we will get tape of that once we come back down but after that no. then the thing we will see eight minutes in is the landing of the rocket. it will come down and land vertically so it can be used again was almost an airplane that lands on its tail. and then we will see the capsule come down on the tether of parachutes and that will -- i say crash -- it will touchdown, a bumpy ride down and hit in the desert, you see a lot of dust and stuff flying up on that. stuart: 50 second, 45 seconds to launch. tom jones, nasa astronaut, real fast, would you be in that seat in that capsule if you could? >> yes, i would be up there in a heartbeat. another dimension of spaceflight i haven't experienced, it adds to my orbital experience. i'm thrilled for these folks. stuart: i wish we had a heartbeat monitor on jeff bezos

and his brother and oliver daemen and wally funk because you have a countdown of 15 seconds. this is it, folks, no coming back. the capsule itself is in control and here you go. >> command engine site, 2, one.

>> oh my goodness, listen to the door of the engine, about to pass through max q, maximum dynamic pressure when they are at their maximum. >> max q. >> max q is confirmed, beautiful burn on that engine, liquid hydrogen, liquid oxygen, a nice, not just clean in terms of beautifully performing but what comes out of it is steam. and to see the, and to know we've got a crew that is going to space, it just feels different, doesn't it? >> totally different.

you can follow along the speedometer in the bottom left, the tr in the middle of the screen. so far appears to be a nominal flight. all right, coming up on main engine cut off followed shortly by separation was at that point after separation we will let the astronauts unbuckle and taken the freedom of 0 g. there is main engine cut off, a beautiful shot down the new shepherd rocket. look at that view. unreal.

awaiting separation. and here we are. you can start to see -- stand by, you will see the separation of the capsule from the booster itself. >> oh, wow, wow, wow look out the window! oh my god! going to get upside down now.

>> reporter: there we go. our astronauts have passed the carmen line, 320 the 8000 feet, continuing their ascent. you see two vehicles there. when the speed hits the road they have hit half a g, maximum altitude. quite an experience. >> god, this is fun! just have to wait for it. toward the middle.

[cheers] >> one minute warning. one minute warning. >> awesome! it feels good. >> got it. i can see the booster. >> all right, get in. [cheering] smack >> fantastic! it is dark up here! >> 2000 miles an hour.

>> everybody in? >> status check. astronaut oliver. >> oliver, status check. >> awesome. >> astronaut wally funk. >> in control. >> astronaut demo. astronaut bezos. [cheering] >> happy, happy, happy. >> reporter:

>> happy. >> thank you for joining us live for the first human flight on "new shepard". the booster is about to return to the landing pad, the engine relight. look at it go. and booster touchdown, welcome back, "new shepard". a beautiful rocket that provided a beautiful flight to space. >> your booster has landed.

>> great to hear about the booster. and there it is, the capsule with four crew members on board, >> very happy crew i you to know. oh yeah. i see blue. >> standby drogues standby drogues. standby mains, standby mains. >> so far a nominal flight. here comes the crew capsule back from space, the drogues

deployed, here are the mains out, coming to full inflation. our rocket went over mock 3 and there, including back down at 15 or 16 miles an hour. back here in west texas after having gone over the internationally recognized line of space, the world's newest astronauts. how are you holding up? >> i am speechless. >> those big beautiful windows. >> a minute and a half of floating before activation before soft touchdown. at this point there are sensors on board detecting how high they are above the ground,

multiple senses, 6 feet above the ground, the cushion will puff and they will have a soft touchdown like sitting in a chair. but i am sure there adrenaline is pumping. >> and touchdown! welcome back, "new shepard"'s first human crew. >> congratulations to all of you. what a day, what a day.

>> we are grateful. thank you. >> it was amazing. >> very happy outcome here. let's do status check, astronaut oliver. >> status correct. >> astronaut wally funk. astronaut demo. >> astronaut demo. i'm unbelievably good. >> control, bezos, best day ever. >> copy, everyone, remain in

your seats, shortly you will hear the offgassing. >> anybody -- >> they took it. >> it was accomplished. is that was only about 5 minutes. >> your apogee was 351,210 feet. >> control --

>> yeah! >> all right, that was incredible. that was incredible. >> it was. >> i was surprised at how easy 0 g was. it was like swimming. it is weird. it felt -- >> what a day. you can see the world's newest minted astronauts on board discussing their incredible flight of a lifetime, off to

space and back. our team is now preparing landing safety operation, recovery crew has already 12 minutes ago left the barn to go open the hatch. you can see them arriving at the capsule, you can see the parachutes fell very close to the capsule meaning there's not much wind, a beautiful day. not too shabby. what do you think? >> picture-perfect and sounds like it landed as predicted. you start moving before it landed based on the prediction of landing. weather balloons, gives us a very good idea within the thousand feet. what they are doing right now,

crew member 7 is making sure everybody is okay and giving the thumbs-up. they are also grounding the vehicle. when you go into space you can accumulate significant electric charge. that is why we prefer astronauts not get out themselves so we can ground the vehicle a static charge which can be quite strong. >> kevin sproat, crew member 7, has given the thumbs-up for all of our astronauts that are on board, jeff bezos, mark bezos, wally funk and oliver daemen, what an incredible day. you heard the audio, best day ever, this is our best day ever, we didn't even gets go into space. congratulations to the entire blue team, our astronauts crew and friends and family of these incredible astronauts. they are just about to exit, the capsule, here. let's wait for that moment.

you see jeff in the window. >> me personally, i find that -- >> jeff! >> all right. take this. >> moving one of the main parachute lines you heard the

cc is safe. [cheers] >> confirmed. go to the camera. >> gary, the architect of "new shepard," congratulations. give me a hug. what a day! thank you, everybody, for joining us live for the first human flight of "new shepard". our four astronauts went to space and back, 350,000 feet, well over 100 kilometers.

they have come back down safely. we are waiting for the rest. our crew is going to get out of the capsule and meet their families on the ground, their families that provided so much support since they were little kids, the rest of it this day and this moment. >> are we ready? [cheers] >> welcome back! [cheers and applause]

>> oliver! congratulations! congratulations! >> you've got to get up there! >> what a day, a successful launch and landing of the "new shepard" rocket and crew capsule with our first human flight crew, jeff bezos, mark that bezos, oliver daemen and wally funk. and their families giving big hugs all around. what a moment, so much emotion from all of them. the elation, did you see wally

funk when she came out? i told you she was probably going to do a cartwheel as she came out of the capsule. what an incredible incredible day. a couple more moments of this. spaceflight, so much engineering, so much objective hard engineering, technical thought that goes into it. when you put people on board, there is such an incredible emotional component to this. the time, the effort, the blood, sweat and tears, you know this better than everybody else, congratulations. >> congratulations to the entire blue origin team. this may have look easy today. it was anything but easy. to design a vehicle like this that is so safe that anybody can get on board.

>> wally funk today became the world's oldest astronaut at 82, to oliver daemen who became the world's youngest astronaut at 18 joining us from the netherlands, big shout out to our viewers in the netherlands, you should be very very proud of your countrymen, representing the next generation of people that are going to go into space was i can't wait to see what oliver does with his future. you heard him in the video. stuart: hate to interrupt this because that was exciting and it was wildly successful. i particularly enjoyed the euphoric commentary from the young lady telling us what was going on and the exuberant cheers from within the capsule, clearly that was a major league success. space tourism has begun. they are back safely on earth.

just as that was happening, the whole ride took 10 minutes and 25 seconds. it struck me how quickly the whole thing was over. the other big story of the day is what is going on on wall street. a big story because of what happened yesterday. the dow dropped 750 points, 4 minutes ago, we regained 60 odd points yesterday's loss. all that is going on in the financial world, the rocket, the people in the capsule as they come out in triumph. the s&p has opened with a modest gain, the nasdaq composite has opened, we will show you big tech very much in the news recently and this was the technological event today. apple, out for that on the

upside, we do have the space stocks, difficult to call them that but jeff bezos has a big piece of amazon, that financed this blue origin rocketship. amazon stock no change, richard branson's operation virgin galactic is down this morning. lockheed, astra on the downside. the blue origin success has not done much for what we are calling space stocks. breaking away from space look at ibm, they saw the strongest revenue growth in three years, that is a turnaround for them. they spend $1.75 billion on acquisitions and that stock is up 3 and a 12:45%. then let's look at reopening stocks, airlines and cruise lines, they were hit hard

yesterday but they are recovering to some degree today. what do we have on the recovery stock. >> we get earnings from united american on thursday. we expect quarterly losses but wall street wants to know what they say about the current quarter and future bookings. the fear is more restrictions, more customers cancel trips because of positive covid tests but the good news is the reopening continues including canada and united is adding more flights. stuart: the problem with reopening stocks is the variant spread, delta spread and there will be not new lockdowns but mask mandates, not many people returning to work. that the problem with the recovery stocks. tell me about cruise lines. >> wells fargo says there is very low probability for lockdowns and jpmorgan said the latest round of growth and slowdowns are premature and overgrown -- overblown. when you have comments like that and you see these reopening stocks like the cruise lines, not backed by

much today but they are getting a bit. stuart: the statement you just read from jpmorgan may have helped the overall markets, close to 200 points with modest stock up 180 as we speak. the other side of the financial coin is cryptos, bitcoin has dropped below 30,$000 for the first time since late june. in total tell us what is wiped out of the crypto market? >> $98 billion in 24 hours. it feels like panic when looking at bitcoin and other crypto currencies, caught up in the broad selloff but down again today as everything else tries to stabilize. a positive would be low-volume, sellers are exhausted or maybe equity investors try to buy the dip are selling bitcoin to do it. stuart: i can never work it out.

it has dropped below 30,$000, bitcoin at 29. some companies, notably travelers to the dow stock reported early this morning, what happened? >> a profit, $934 million, higher premiums and lower catastrophe losses. people are driving more in off hours. the cost of repairing a car much higher because of supply issues and that factors into the cost of claims. i look at it. stuart: they may have said something on the call about the future. we have big names reporting. i'm interested in the big-name after the bell today, netflix. >> netflix is going to be huge, such a success story but they are a victim of the reopening. they could report the weakest subscriber grope since 2001 because you don't have to sit on the couch anymore. 1 million new customers at a globally.

that is why they expand, video games, merchandise related to their shows and all of it branching out. >> in advance of their report they are down one%, stock is down 26, we need some analysis of the situation, the market situation. are you buying this dip? >> this doesn't scare me. this is an opportunity to buy. investors should look at these pull backs. every time we see the pull back the market rallies back so i don't think the market will have long-term negative effects due to the delta variant, the market is reactive in the short term which we saw yesterday and it is the day, some confidence to the market.

stuart: eddie gaber is back with us. are you buying this dip. >> we will be playing defense heading into july because we are transitioning into a slower growing environment. yesterday was a big panic in regard to the delta variant but we have a few more weeks until this shapes out. if you are underweight cyclicals, today is a critical day on shady ground with support to the upside, the path of least resistance is downside and it could get uglier in the near-term. stuart: in the back of your mind you think this might, repeat might be the start of a nasty correction? >> the s&p is only down 4%,

energy is down double digits, small caps down 10, lots of companies down 20%. if you look under the hood it is uglier than the s&p is showing from the drawdown perspective. you have to be cautious in the market correction we are seeing. stuart: i want to thank david nicholas and eddie gaber, you hung in there through the blue origin rocket takeoff, you made it on the air. a quick check of where we are, looking at big tech on the screen, only one winner, apple at 143, the big board shows a gain of 161 points, 10 year treasury yields, one.14%. price of gold is up on

inflation concerns, bitcoin below 30,$000 per coin and oil continuing its retreat at $65 a barrel. that took a hit yesterday but gasoline going up a little bit more. upside move for gasoline may be stopped as oil descends to $65 a barrel, $3.16 the national average for regular, $4.32 in average for regular in california. president biden insists massive government spending will ease inflation. larry kudlow is with me. this is economic, to me, economics turned upside down. >> you've got a lot of woke

economics in there. all about government spending. he calls it government investments. the rest of the world would call it more social spending, entitlement sending with no work in the center for work requirements there. tax hike, that he is proposing, supply side of the economy. i don't know if it is legislative but my suspicion it is not going to make it. a perverse analysis of issue and investment, these fiscal spending multipliers we saw during the obama years had little to do with economic growth. the multipliers would be negative, below one for all i know because they never succeed in you are going to close down

investments, you're going to close down productivity and the opportunities for real wage increases, tax icon businesses, capital gains, tax hikes on american companies which are something we've never heard before. these are disincentives. the biden growth doesn't understand this model of growth. that's too bad because i think economics is all about real-world incentives. he's got the story exactly in reverse. stuart: what about the other side of the coin which is growth in the economy? i see the possibility of a return to not necessarily mask mandates but mask requirements, possibly restrictions on

activity, that would slow the economy, is that why the yield is down one.one%? >> hard to say. i think this was -- this masking business is not going to pan out very much, the delta strain is going to turn out to be very minor. you are almost disconnected between the increase in covid cases and the rate of fatalities which remains to be very very very low. i'm not so sure about that. i don't know what is driving bonds down. sometimes they are hard to figure. one point i want to make, for some reason nobody associates inflation with the federal reserve's money supply or federal reserve balance sheet or monetary base.

you had a huge build up like 50%, 60% but if you take a look carefully in recent months, march, april, may, we don't have the numbers for june, these numbers are coming down. the fed is not as loose as some people think. m 2 peaked at 28% four five months ago is heading back into single digits. the legs here are hard to figure but notice the fed is taking cash out of the system, this underhanded tightness through reverse rvs where they sold treasury bills to bond dealers and the bond deals have to pay in cash. they've taken out $800 billion per day and that is the reason

that dollars, gold prices and inflation breakeven in the bond market are fairly mild. there is a hidden hand going on which i like. the biggest problem, government social programs, lots of taxes on business profits and investment. you could have supply-side inflation and the whole story is wrong. stuart: i've got to leave it because i have a hard break here. the president has economics the wrong way around. watch larry weekdays at 4:00 pm eastern on foxbusiness. back to the market, the winners among the dow industrials, the top performer is ibm. honeywell, j and j on the list. s&p 500 winners, that would be hca holdings, i see a lot of

health companies there. >> the reason is the j and j story, an agreement to put aside $26 million to go to the claims. they thought the amount would be. >> >> the healthcare company series. 270, 280 points up for the dow industrials, that is where we are. it was a successful launch. bezos will speak to the media an hour from now. we will carry that live. that was history in the making. also ahead, look at this scene from dell rio, texas, hundreds of migrants trying to force their way into the country.

bill mulligan continues reporting from the border. he will join us in our next hour. one of the country's top media christian group says kids age 2 and up must mask up for school or day care. i will ask doctor matt mccarthy if he agrees with that. he joined me next. ♪♪ sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it.

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one doctor fauci and the american academy of pediatrics say all kids over 2 should be masked in school vaccinated or not. doctor matt mccarthy joined me now. what do you say? in school vaccinated or not, wear a mask? >> as a father with two kids spending the summer is running around with no masks on i recoil at the idea they need to put masks back on to go to school this fall but honestly this was an easy call for the academy of pediatrics. what they are looking at here is the threat to kids and trends in the united states and it wasn't even a particularly controversial decision. what we have seen is 300 children in the united states of died of covid and that

happened in the setting of universal masking, some states shutting down, people actually doing mitigation measures was what they are saying is if we pull these things back we will see even more covid and when we have more covid and unvaccinated kids they need to put on a mask. i know a lot of your viewers are watching right now saying i heard that masks don't even work and the science on masks continues to evolve but they work most effectively when there's high transmission of covid in the community. when there's a lot of covid around you should wear a mask. when i going to treat a covid patient i'm not questioning the effectiveness of a mask. i know that i need to wear it so what we are seeing here is the american academy is saying there are so many americans not getting vaccinated that we can expect covid to be transmitting at fairly high levels this fall so kids will need to do this. any of your viewers sitting on

the fence about whether to get vaccinated, feel they may hear confusing information or contradictory information and want to sit this one out until they can make a more informed decision i will say to you you are making a decision, the decision not to get vaccinated is influencing how these societies are making recommendations. we have three safe and effective vaccines. a lot of people don't know who to trust. i don't have any financial stake in any of these vaccines and i recommend people go get vaccinated not just for yourself but also for kids so the kids don't have to wear masks in school. this is something nobody wants to see but you don't get to complain about mask mandate in school if you are not taking the step to go and get vaccinated. stuart: i want to make this point. kids wearing masks are restricted in their social interaction and i think that is very important because to develop -- you've got to see the face, the emotion and if you are wearing a mask you can't.

last 20 seconds. >> completely agree and this is just a recommendation from the american academy, localities make your own decisions. if you have low levels of covid you don't need masks in school. we have the opportunity for people to get vaccinated this summer, drive case level down and give the decision-makers in various communities the power to say no masks in school but it will take a group effort to get there. stuart: doctor matt mccarthy, thank you for joining us on the important back-to-school subjects. still ahead on this program steve forbes, florida congressman byron donald o'brien kilmeade, will kane on the show plus jeff bezos's live press conference coming up in the 11:00 hour, the second hour of varney is next. ♪♪ with the world. some changes made me stronger. others, weaker. that's the nature of being the economy.

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♪. stuart: that was such an easy call, wasn't it, "rocket man," from elton john, having just witnessed successful space lawn of jeff bezos in the new shepherd rocket. well don, producers, you got that done right. by the way it was a very successful flight. we're one hour away from the news conference which bezos will hold following that historic flight. jeff flock is there. jeff, we wait for the press

conference but are we going to see some video, maybe from inside the capsule before that press conference? reporter: i don't know if it will come before. they're trying to process what they did, they didn't have a live link but they did have cameras in there. so we'll see not only what it looked like when they got weightless. wasn't that great to get the audio from inside of the capsule. you just heard the excitement. we'll see what that looked like actually with them floating around looking at each of those huge windows, largest windows in any spacecraft yet and we'll be able to drink that in. stuart, if this could have gone any better i don't know how it could have gone any better. from the launch, tremendous, people would say, that whole moonwalk thing was done in a studio somewhere. i can tell you we were here. we watched that thing go up. that was for real.

to see that, watch the rocket comeback down and land, this huge piece of equipment come back down, launch the thrusters sit straight up. landing of the capsule, have the guys come out. it reminds me, you remember this as well, you're younger than i am maybe, i doubt it, we watched the apollo astronauts come back and splashed down. these guys came into the desert. the dust piling up, then the guys coming out of the capsule, just feeling that emotion. i think this will do a lot for interest in spaceflight going forward. that is my sense of it. i don't know about you. stuart: jeff, you were watching it with us, one thing really surprised me how short it was. it was ten minutes and 25 seconds. i'm not going to compare that to the cost of this thing or the 28 million-dollar seat. that is just not the point. it seemed so rapid, so fast,

also so exciting. that is it what struck me. i loved the euphoric commentary of that young lady, and exuberant cheers inside of the cabin. i think it was a smashing success but too short. last word to you. reporter: you shouldn't have given me the last word but what comes to mind is sex i guess. a lot of build-up, sometimes it is great but it is over too soon. they paid a lot of money for this. i don't want to go any further with that analogy. i don't suspect you will pay that kind of money unless the price comes way down. i will leave it there. stuart: yes that's right. jeff. we will absolutely leave it there and never mention this again, jeff. that was a pretty good report. i got to say. we wrapped it up the spaceflight is over. we'll await the press conference one hour from now. let's get back to the markets. this is a very important day because yesterday, the dow industrials dropped 725 points.

we do have a rebound and it is gaining some ground too. now we're up 472 points for the dow industrials. that is 1.4%. we haven't regained all the lost ground by any means, seems like we're getting there gradually. the 10-year treasury yield this is an absolute shocker to me, i fail, i can't explain it, the 10-year treasury yield is all the way down to 1.16%. that to me is astonishing. i guess there is a flight to the safety of a treasury. i guess that is what is going on. susan will set me straight shortly. susan: flattening of the curve. you can read the 10-year treasury where the economy is going and interest rates. stuart: i agree this is where the economy is going. the virus, variant, dealt that, that could have economic impact, slow us down a little.

that is reflected in the 10-year treasury. susan: rush to safety as you know. stuart: we sorted it out, now i know. big tech, where is that this morning answer all over the place. apple is up. amazon, facebook down, alphabet, microsoft. there is not that much movement in the big tech stocks today. here is another big story in the financial world, bitcoin truly struggling. it is well below the 30,000-dollar per coin level. just to be. what do you say, susan? what do you say? oh, okay, thanks. point this out, the dow is up 477 points, having been down 725 yesterday. okay. i really want to get back to the historic spaceflight. really turned me on. florida congressman mike waltz is with me. he sits on the science, space technology committee in the house. this is space tourism. we saw space tourism. what us does that do in the long

run for space exploration? >> stu, what this will do is democratize space. if you look back in the 1950s, only the wealthy could do commercial airlines or commercial aircraft flight, right? it was only the wealthy and relatively the few. just a generation later anyone can fly. i think within another generation you will be able to see anyone go into space. i think you will see d.c. to tokyo in under two hours because of these rapidly emerging technologies. the other piece, stu, we're seeing venture capital and investment flowing into new space companies and startups with amazing new technologies. 10 billion set a record last year. it is also starting a real explosion in stem technologies and interest in our young folks. we're going to be a million jobs short in the stem fields over the next decade but i got to tell you, when i go into elementary schools, middle

schools, high schools, especially in the space coast in florida, they're fired up and what i love about it, it is the private sector leading the way, not government. stuart: don't have any problem with a couple billionaires going into space with their own money, no problem with that? >> no problem honestly at all because of the technology spin-offs that are occurring. their ability to do it faster, more efficiently and do it cheaper is completely changing the way we approach space. the other piece, stu, the chinese are launching more into space than the rest of the world combined. they're launching their own space station right now. they're in a deal with the russians to man a station on the moon. everything behind what they're doing has military propping that up. on our end though, it is the private sector, the innovation, the new ecosystem. look at the end of the day you can't be number one on earth if you're number two in space. that is why this is so important and so exciting.

stuart: congressman michael waltz on the space committee in the house. michael, thank you for joining us. appreciate it. everyone, now this. the president deliver as lesson in economics. we can have a wonderful inflation-free future he says if we just spend a fortune on child care, elder care, paid leave, free college and everything else in that 4 trillion-dollar spending plan. he says it would raise wages without raising prices. that is kind of wishful thinking in the extreme. we already have inflation. we're throwing more and more money into a economy that is doing well. the president believes we throw in another few trillion, price hikes miraculously disappear? really? i think he is dangerously wrong. why is he saying it because bernie and aoc demand this massive spending. they demand the transformation of society. that means spending by the trillions regardless of

inflation. amazing, isn't it, this pair of socialists holds real power within the democrat party. biden needs their support. he goes out and says spend big and don't worry but we do worry. if we spend all of this money we will indeed transform our society. the socialists will achieve the political goal. that is what it is a political goal. the left cares about politics and power, not the economic consequences. so the president's economic lesson, lesson, that is what it is, it is really a lecture written by the left. a socialist message wrapped in economic misinformation, important word. that really is misinformation. that is my take. look who is here, steve forbes. do you think the president is right or wrong about government spending creating or suppressing inflation? >> well, it is alice in wonderland. everything you say take the opposite for the truth. you're right, it is all about

power, not prosperity. that is what they're after. turning us into a socialist country like you see in europe, even worse than europe, a lot of countries scaled back there, we'll get massive tax increases on the middle class. 25% national sales tax like they have in europe. 30% payroll tax. you think your fica taxes, payroll taxes bad today, triple that, quadruple that. that has implications for the safety of this country which is bad for us, bad for the world. this is absolutely perverse. this thing has to be fought every inch of the way. stuart: i don't think all of that $4 trillion worth of extra spending is going to happen, do you? >> i hope not. certainly the markets don't believe it. had bad days in the market. if the markets thought the tax increases which would be a down payment on massive tax increases in the future they would thought that would come to pass, you will see the market crack not 700 points like happened yesterday, 5,000, 10,000, 15,000

points would truly undermine the economy. we'll see how well the republicans fight this thing. you have the problem with the federal reserve if they pass the spending bills how will they finance it? certainly not by taxes but money printing. buying bonds, reeling the money in, devices like reverse repos, stuff like that, they have $800 million of short term borrowing to prevent outbreak ever inflation. how long can these games go on? eventually it will crack. stuart: thanks for setting us straight, steve forbes, do it again soon. see you later, steve. let's get back to the market. we'll look at some of the movers. i want foe start with amazon. susan? susan: it was up during the test flight. i was checking at 9:30 when the flight went up with jeff bezos,

amazon was the reason this was bankrolled by private enterprise. amazon sell as billion dollars of amazon stock to fund blue origin each and every year. what did you make of that, by the way? i was on fox news and it was exhilarate. stuart: i loved it. susan: do you think it opens up a whole new space industry. stuart: all in favor. susan: you can buy me for it in the future. $200,000 now. you can expect the price comes up, as more people enter the space race and more advancements, it won't cost $200,000 in 10 years. stuart: if i do anything like that, not buying you a anything for christmas, i would buy you on the balloon that goes in near space. 125,000-dollars a pop. that i could do. susan: timing for jeff bezos, he handed day-to-day ceo reins to andy jassy. there was less future risk to

amazon with him going up in this test flight. stuart: i didn't realize that. the dow is up 432 points. now this the governor of florida ron desantis warns illegal immigrants are heading straight to his state, florida. bill melugin caught this scene yesterday. we'll take you back there for another live report. hundreds forcing their way in. back after this. ♪. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding!

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most of these were cubans and nicaraguans. this is a very active sector. del rio, the second busiest behind the rio grande valley. look at this video. we were given exclusive access

yesterday. we remember texas governor greg abbott promising to build a texas border barrier, in lieu of the government's failure to do so. yesterday we were given a first look at start of some of that construction. look at video here. state troopers walked us. this is a 1.5-mile stretch beginning crownings right here in del rio. this is the only part of the state where the construction has started. you might not see a border wall. you see a chain-link fence. you wonder what the heck will that do to stop anything. the idea behind there. they will put no trespassing signs. it has a chained link barbed-wire over it. if they climb over, go around, do it in any way, forget the federal government, we'll arrest migrants on local state charges and take them to local jails. they will cut the federal government out of the eve equation. they will handle things themselves. they're frustrated the federal government isn't doing its job.

>> essentially go it alone. >> it is frustrates overwhelming, border patrol is not getting support from the federal government. the state of texas is stepping in. government abbott initiated a niche stiff to build a temporary fence to take enforcement action. state of texas, we're leading the charge. that is what we're doing right now. we're taking enforce meant action. reporter: elsewhere in the del rio area we found change link fences stacked up on the ground waiting for more construction. they're preparing a 1000 bed facility an hour away from where we are in dilly, texas, when the fences are up and running and making arrests, booking migrants on local, state charges, they're not going to call border patrol anymore. you take a live look at the drone in rio grande valley. shocking numbers from the sector chief. just in the last week they apprehended more than 15,000 migrants just in that sector alone. staggering numbers for one single week for one single sector. we'll send it back to you.

stuart: staggering numbers. 15,000 in one sector. amazing. bill melugin. great reporting, thank you very much, sir. by the way the governor of florida, ron desantis, he is warning migrants are heading straight from texas to florida. watch this. >> they say that almost 70% of everybody that they have interdicted said their ultimate destination was the state of florida. so if you think having wide open border, thousand miles, 15, however far it was away, doesn't affect here, you're wrong. stuart: congressman byron donalds, republican from florida, joins me now. congressman, are you seeing these migrants entering florida? i know you represent fort myers area and naples, florida, are you seeing them arrive? >> first thing i will say about this information have i personally seen it? not yet. but i will tell you there are many draws to our state on people who are from latin

american descent crossing our border illegally. florida. has a very large hispanic population. i don't doubt the veracity of the information from governor desantis. this is part of a broader issue. the fact that the federal government under joe biden is actively moving people through the united states. i've seen it first-hand. i see them getting plane tickets from border patrol, hh ask. they have been coming from the dallas international airport and going to all parts of the united states including florida. this is a real problem. the governor is right. it is not just a border issue. this is a united states issue. every community is a border town right now. we need to take this seriously and demand enforcement of the southern border. stuart: well, do you get any warning that migrants are coming to florida? when they have arrived do you have to pay for them and support them? >> well we do have to pay for them but we get no warning. border patrol or hhs or

secretary mayorkas, they tell us nothing about who is going where. what i have seen first-hand, and i have seen it, my staff seen it coming back from the border, people have plane tickets. they have a manila folder with their entire destination written on the folder. they're on commercial flights. people are coming to our country destitute. they don't have the money to buy an airplane ticket. the federal government is paying for it. i drafted a letter that went to secretary mayorkas how much money the federal government has spent on coach buses and airplane tickets for illegal immigrants who come into our country since joe biden has been president of the united states. we still have not gotten a response to that letter, that request for information. stuart: congressman, thank you very much for joining us. we must not ignore this story. we got great stuff from space, wall street, all the rest of it but we must not ignore what is going on the southern border. congressman, appreciate you being here. >> anytime. stuart: yes, sir. billions wiped out of, wiped off the crypto market when bitcoin

dropped below 30,000 bucks. it is still there. it is 29, five, right now. how much of a loss are we talking about? susan: $90 billion for the total crypto space. ethereum, bitcoin, dogecoin. the talk of the crypto space where is the next support line for crypto? i have heard predictions we could go back down to $20,000, possibly, maybe 27. it is roughly in that line. once you have gone below sub 30 the algorithms, technicals where the support lines are, that kicks in. that matters in a high velocity type investment and asset like bitcoin. >> we don't know when the algorithms kick in to start buying again? susan: yeah. stuart: you need a catalyst to make them start buying again. susan: if you look at the trading pattern, cyclicality when it comes to crypto and bitcoin, 2017 you remember we hit the peak of $20,000 a coin?

we went down to the $2,000. there is boom bust. the winter period called among the crypto enthusiasts. people are saying is this again? stuart: maybe another winter period. susan: terminology. stuart: i never seen that. i don't know. susan: i knew that was dangerous going there. but we try. stuart: but you did. interesting stuff here. medical group calling on kids, youngsters, two years and older, mask up in class. dr. fauci is all for it. watch this. >> i think that the american academy of pediatrics, they're a thoughtful group. they analyzed the situation and if they feel that is the way to go, i think that is a reasonable thing to do. stuart: reasonable to mask 2-year-olds for hours at a time. we will take it on. plus, prince harry writing a tell-all memoir about the royal family. oh, boy. whatever happened to him wanting to avoid the spotlight? fortunately we have nigel farage

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u.s money reserve is one of the most dependable gold distributors in america. ♪. stuart: i'm going to call that a pretty solid rebound, down what, 725 points yesterday and back up in the first hour of business. nearly 500 points this morning. i would call that a solid rebound. let's bring in luke lloyd, our market watcher in the 10:00 hour. luke, that is a solid rebound. somebody is buying this dip, aren't they? >> absolutely. listen, stu, the market usually has 12 or 13% corrections top to bottom in any given year. so far this year is 4% top to bottom which could be passed next few weeks. the main reason corrections have been so small this year, there is so much money out there. money either goes to the economy or the stock market. when it goes to the economy it makes the numbers look better. when it goss to the stock market

it makes asset prices look better. 2021 is far from a normal here. i don't think we'll get that 10 or 12% pullback. i am looking for 4,000 on the s&p 500. the closer you get to the 4,000 on s&p. you should be unlocked and loaded ready to release your firepower. stuart: what is the is it? threat of inflation, restrictions imposed in the economy, what's the problem? >> i think it's a little bit of both but right now definitely the delta variant is a catalyst. it is a bunch of noise. deaths are not rising. hospitalizations are not rising. we have 50% of the population vaccinated in the u.s. the united kingdom opened up yesterday. stu, even if it did get worse you know what the government would do? they would print more money and stimulus like they did the last year-and-a-half. we know what happens when the government prints more stimulus, the market just goes up. i like to call this kind of a

win-win situation for the stock market. if things continue, delta variant isn't bad, we continue to unleash the economy, things are looking good. if the delta variant proves to be bad, that doesn't happen, the market will go higher as well. we like to take advantage of irrational fears, buy the dip. stuart: one of these days the market will go down, nobody buys the dip, it keeps going down. we're not there at this point. that's a fact. >> i don't think so. i don't think so. stuart: no, it doesn't look like it. luke, thanks very much for being here. i appreciate it. i have news on apple. they're postponing the office return because covid cases are rising. how long is the delay? susan: about a month. think october instead of september according to reporting bombergom and that tha i bause he h ces,ig hrhe hetef cif buou y ynk abobout it, apple isis of the fst th gits possiblbl cldld phus ethnet toetheo tff oe a enheigomom i

sili vlesoe t t t ty ttt pnt and tnd r foheothnolyolol cpa gkee a a a a t le l rntu to tffa liffleff t .er ther hahaeen pkhbachbacacstst u amongmongmo aleyees. stts not a r rn.n. everybody in cg bac b come back two days, stay home three days. it is hybrid. susan: a lot of employees were up in arms, a lot of people want to work remotely. some say in the cutthroat world looking for talent, especially in the valley, employees, high paid engineers don't want to go back to the office, some of these technology companies have to succumb to that. stuart: they do. there is a lot of choice out there for the job you want to take and where you want to take it. that is the new reality. susan: six figure salaries will not cut it anymore. that is after the pandemic. because there are lifestyle changes and quality of life and work balance that has been rethought. stuart: it has been rethought.

what is this about nike may be running out of sneakers? susan: this goes back to the global supply chain and according to new analysis from the s&p, these sneakers could be halted, they have been halted in three vietnamese factories. that is the case. sneakers exported elsewhere, here to america as well, could run in short order over the next few months. stuart: sneakers. who would have thought. susan: apparently, did you know vietnam made up around 49% of u.s. seaborne shipments of rubbermaid shoes? stuart: i didn't know that. vietnam is a major league shoe manufacturer. susan: nike, apparently nike imports 82% of their shoes coming from vietnam in the past six or seven months or so. stuart: i would be surprised at a sneaker shortage. susan: that is surprising. the global supply chain shifted from china to vietnam and other

low-cost countries. stuart: it's a shift. i get this in. dow up 470 points. there you go. coming up on the show, a op-ed message for west coast liberals. it reads, don't mess around with texas, move back to california. will cain is from texas. he is going to respond to that. it's a very different olympic experience, no fans, no socializing. so what it is like to be in tokyo right now? our next guest is there and has a report for us after this. ♪.

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stuart: final countdown to the beginning of the olympics. the skyline in tokyo. by the way, two american olympians have tested positive for covid days before the tokyo olympics begin. i want to bring in chris smith with the sports business journal. he is in tokyo right now. set the scene for us please, chris. this doesn't seem like your father's olympics, does it? >> not one bit. things have very, very restrictive. anyone coming into the country has to do quarantine upon arrival, three-day quarantine in a hotel room. once you're out of the way around the you have only way to use olympic buses or media center or whatever venue you go to once the games get going. stuart: olympic village is in a bubble, there is not that much buzz in tokyo itself, is there?

>> no. it is funny because things are so restrictive, there is no opportunity to talk to people around the city. it is hard to get for what the sense is here. people i'm interacting with, hotel staffers, tokyo volunteers and staffers for the organizing committee. so it is, a lot of what i'm seeing about the games is online, kind of same everyone is at home. stuart: if there are no spectators and there are no tourists coming into the japan, then the olympic authorities rely entirely on americans watching olympics on television, to get the ratings, advertising revenue, they're almost entirely dependent on viewers around the world watching tv. that is not a good place to be. >> i will say to their credit a lot of people would make the case that the olympics have been a made-for-tv event for quite sometime. i think the big question now with nobody in the stands how much does that impact the tv broadcast experience? you know, so the broadcast is a

critical component, the biggest revenue generator for the games. will as many people tune in if you don't have the very unique idea of a world championship in 30 some order sports happening in two weeks. if you don't have the atmosphere, you don't have the fans cheering, going nuts, waving flags for the athletes, what sort of impact does it have. we'll wait and see but can't be a good one. stuart: i take my hat off to the olympic authorities, against all the odds they will put the thing on in the middle of this pandemic crisis. i take my hats off to them, do you? >> i do. obviously i'm going through a million hoops every day just to get around but i understand the reason why those hoops exist. you know, it is sort of a necessary evil and i wrote about it, that it is an absolute marvel what they're doing, to invite thousands and thousands of people around the world, everybody being tested, they have to have mobile apps on the phone being tracked. sheer logistics involved here are mind-boggling.

i think it's a remarkable, sort of logistical achievement they're trying to pull off here. so far it seems to be working. obviously there has been positive tests but very location rate given the population here f they keep the case rate down, keep on the track they're on now, we'll look back at on this as an incredible success given the circumstances. stuart: just to pull it off, that is very interesting. chris smith, thank you, chris, see you soon. back to the markets please, look at that. the dow is up close to 500 points after yesterday's 700 point loss. susan has been looking at the movers for us. first of all, apple. susan: if you look at it we're up 1 1/2%. that is helping lift the s&p, the nasdaq and the dow. stuart: everything. susan: of course everything. i would say it is higher because it is recovering from that selloff. the record high was hit last week of $150. yesterday we hit 141. so you lost 10 bucks in two,

three sessions but today apple is coming back because the yields are down but also there is news that apple is trying to muscle up when it comes to content. apple was in talk with real estate firms to build a studio hub in los angeles. there have been other reports as well they were looking to buy up, in talks with other movie studios like 824 and reese witherspoon's hello sunshine. stuart: a studio hub creating content. susan: apple tv plus, but if you control, apple likes to control the pipelines end to end, they can control the costs and the content. stuart: next one, roku. nbc universal deal. susan: speaking of the tokyo olympics. roku, nbcu are partnering to bring what they call all emersive experience for the 2020 games. roku was actually a winner yesterday in the 700-point selloff for the dow because lockdown winners, all of sudden became popular again with the delta variant spread. people possibly going back into

lockdown and wanting to stream more. stuart: any news on mastercard and cryptos? susan: yes they're looking to enhance their card offerings for cryptocurrency companies. think of wallets, exchanges like coinbase and the like this. is about converting cryptocurrency which i think could be lucrative if you're a mastercard plastic issuer. think of the transaction fees you could charge. stuart: certainly get into lot more wide scale usage of cryptos,. susan: growth in particular in a growth industry. the asset class is worth what, 2 1/2 trillion dollars in the last 18 months. stuart: les we forget. as the delta variant spreads can business owners survive another round of covid restrictions. lydia hu is talking to businesses in san francisco. we'll get her report on that in a moment. one reporter admitting democrats are giving cuba's communist regime a pass. we'll show you what this person is saying. brian kilmeade will respond.

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stuart: certainly a rise in covid cases has a business owners worried about return of any kind of restrictions. lydia hu is in san francisco talking to business owners there. lydia, can they survive another round of restrictions? what are they tilling you? reporter: stuart, they are telling me they have real concerns about the return of mask mandates and mask restrictions, what that means for the future viability of their businesses. we're here in the financial district of san francisco. usually, this area is bustling with people getting to work but right now awfully quiet because they're still all working from home. that means places like ladle and leaf, fast casual dining is closed because people are not coming in to eat lunch aroundthd for 16 months. the owner turning on the lights for the first time during the pandemic to talk to us. return of restrictions regardless of vaccination status

that will deter businesses bringing their workers back. >> as soon as i heard mask mandates coming back, immediately i was concerned with our ability to reopen restaurants. people and business leaders would use it as a reason to be concerned. it's a signal. certainly when cases doubled over the last few weeks, we knew we were heading into some difficult waters and this appears to be the case. reporter: now here in the bay area it's a recommendation that people start wearing masks regardless of vaccination status. further south in l.a. though. it is a mask mandate that is back. there is pushback on that. the l.a. county sheriff says he is not going to enforce it. stu. back to you. stuart: lydia, thanks very much indeed. the time is 10:51. that means brian kilmeade joins us on the the show. brian, i want to report, "axios" is reporting that an aide to

speaker pelosi has tested positive for covid. that is all i know at this point but that raises the serious issues of fleeing texas democrats going to d.c., announcing couple of them have covid, no masks. they're mixing and mingling. some have to go into quarantine. it's a mess, isn't it, brian, a mess and a half. >> texas democrats doing everything texans shouldn't do, running from a fight. they would rather be run hailed as heroes, fly without masks on. i talked to dan crenshaw last night. they do a study every three minutes. new air comes in, one of the safest place to be without a mask, having said all that they said they were all vaccinated. texas legislators had all to be vaccinated. he takes them at their word, they didn't skip the line or call in sick and six tested positive. i understand with stats still coming pfizer vaccine estimated 10 to 30% less effective in

preventing symptoms of this illness for the vaccinated, the chinese vaccine almost doesn't help almost at all. so if you're not, if you're not vaccinated more of a chance you're going to get it. you will be hospitalized but doesn't say necessarily that will happen. they say 97 to 98% of those hospitalized are non-vaccinated. so you might want to get vaccinated, especially if you're in a risk group. i'm not going to tell you to get vaccinated because i don't come to you for medical advice. you don't come to me for medical advice. we go to doctors for medical advice. stuart: let's talk about dr. fauci. he says kids two and up should be wearing masks. what do you say to that? i mean, i don't get it. honestly i don't get it but what do you make of it? >> what i make of it is total irresponsible. they throw a study at him, sounds good to me. why? because he is in the medical community where he wants to get invited to everybody's christmas

party back. i had dr. makary on, he said this, i played that sound bite for him. he said $80 billion is the budget for nih. he is in kroll of. he gives away 40 billion. he spends 41 billion. spent .4% on covid-19. grandparents, parents, kids and teens, wouldn't you love some of the dollars our money spent on covid-19 study, for example, kids in school? how does the w.h.o. of all people say five and under should not be wearing masks, vaccinated or not vaccinated but the pediatric society says they should? have they met a two-year-old and 3-year-old? you know when you put the mask on their face they stop talking? stuart: exactly. we're not considering that side of the equation here. you want young children, two, three, four, five years old, to socialize. they have to look to each other, talk to each other, laugh, smile, communicate with each

other. you can't do that with a mask on. i think that is downside of insisting kids wear masks in schools. >> if i could expand on that, stuart, last night preparing for the 7:00 show which i will be on tonight, let me get child psychologist opinion. the child psychologist said very important for kids that young, never thought about this, to see fear, to see sadness, to see sadness, to see discontent. for a teacher to notice in the kid, for a kid to notice it in a friend and notice it in a adult. when you take that away, every single day, eight hours a day, you're talking 18 months, they will do this in the fall, how do you not affected kid? don't tell me you're protecting him or her. there is a better chance of them dying from the common cold than it is from covid-19 by everything that is out there today. stuart: yeah. i just can't see masks today, tomorrow, and forever. i just can't see it. certainly not for the kids. brian, thanks for being with us.

strong stuff. we appreciate it. >> go get them. thanks, stuart. sure thing. stuart: big hour coming up. listen to this, mike murphy, will cain, nigel farage, plus a whole lot more. yes, we're waiting for the live press conference from jeff bezos and his crew any minute. you will see it all when it happens. ♪. ♪ why do you build me up ♪ ♪ build me up ♪ ♪ buttercup baby just to let me down ♪ ♪ and mess me around and then ♪ ♪ worst of all ♪ ♪ you never call ♪ baby daydreaming again? ..

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>> ignition. we have lift off. jeff has cleared the tower. >> "new shepard" has cleared the tower on the way to space with the first human crew. a beautiful shot. the "new shepard" rocket, look at that view. >> to look out the window. >> bezos's best day ever.

[cheers and applause] >> champagne time, everybody. ♪♪ stuart: looking at van horn, texas, where it all happened, where jeff bezos and his blue origin crew blasted off to space, they are about to hold a news conference and we will take you to it as soon as it begins. i want to look at the markets because you are looking at a solid recovery. down 700 points but up 540, nearly 550 points, that is a rebound. look at the nasdaq over one%.

the 10 year treasury yield, what a mystery this is, now going to up, to one.19%. that is extraordinary. that kind of movement in the yield on the 10 year treasury represents the movement of a great deal of money. one.19% is extremely low to the yield on the 10 year treasury. bitcoin another big story, below 30,$000 per coin, exact quote, 29-6. now this. several questions about space. number one. should all this money be spent when there are serious problems here on earth? my answer, oh yes, definitely. spend it. it is not taxpayer money and besides, money is not the answer to all our problems. human progress is the spirit of adventure, probing new frontiers, give me that over more welfare any day. question 2. isn't the billionaire space

race an example of gross financial inequality? my answer to that, there's nothing gross about rich people opening the universe to the rest of us although in a small way. this is private money. these guys, and the new industry, so much the better. number 3, aren't branson, bezos and musk just egomaniacs? that may be true but their egos are contributing to the public good. scientific progress is in itself good. these guys are helping america's space industry, china. i'm very much in favor of private space enterprise. richard branson and jeff bezos put their lives on the line, they are doing it and one day perhaps my grandchildren will do a space trip of their own. the third hour of "varney and

company" just getting started. >> and jeff flock, you were commenting on the lunch. i call it a wild success. >> i take a wild guess, you did not -- 165 people who signed a petition that tried to deny jeff bezos reentry to words after the flight, and if they choose to leave the are they should not be allowed back. stuart: they managed to get

into it and forget the socialists. it was a wild success. >> i can't imagine how it could be anything but. something else that will make you happy, look at that rocket, that is liquid hydrogen and liquid oxygen and so there are no carbon fuels being burned. it is worth listening again, you mentioned last hour the excitement in that cockpit, can't wait to see what it looked like. listen to how that played out once they get weightless and started to look at earth to those windows. take a listen. >> bezos's best day ever. >> copy, everyone.

>> when the richest fellow in the world says it was his best day ever that was something good. >> we are awaiting the news conference jeff bezos and his crew will be handling. we will take you there. let me take you in, will kane, my colleague and friend at fox, what did you make of today's space flight? >> human beings should press the limitations of energy, and that is absolutely true.

and we need to be asking the question why, why are we doing what we do? that doesn't mean i doubt that we should be doing it. what i mean is we are progressing technologically at such a breakneck speed. making your own arrowhead, the arrowhead 3000 years ago, the her head from the 1800s, the rate of progression, and thinkable we are doing in the past 20 years, we are progressing at such a great rate, and it will look answer created. what is all of this advancement, technological

achievement designed to do is human beings. it is no nature to be risk makers, to push west, pushed through space. >> the desire to go into the unknown, it is there. that is very american, it is no surprise, inspired by john f. kennedy to go to the moon before the end of the 1960s, going where no man had gone before, and that makes america strong and powerful, >> part of the concept of manifest destiny. this is what we were meant to do, to go where we hadn't gone before. if we are not careful, all this

technological advancement, it would end of like tick-tock. what kind of contribution, not that the phone doesn't contribute to human communication and inspire freedom, free thought, whatever it may be. there is a basic question we need to ask with every bit of achievement, what value does it serve, that doesn't mean we shouldn't but always come back to that question. stuart: fair enough, keeps my spirits up as a newly minted american. i think you are all right, see you again soon. we are waiting for jeff bezos and his crew to hold that press conference scheduled for now. when it starts we will get you there fast. back to the markets i'm looking at the dow, solid recovery up 530 points, time to bring in mike murphy. a couple weeks ago you said you were looking for a pull back,

for 10 years you have been saying by the dip, yesterday was a dip, a pull back, what did you buy it? >> we didn't go in aggressive yesterday, trading 2% or 3%, when i talk about a pull back the markets see the pull back of 5%, haven't had a 5% pull back, going on 12 months. there will be normal pull backs, yesterday, it got a little bit hairy, down less than 2% on the markets. not much news there and we see the market take back the gain, at or near all-time highs.

stuart: when is it going to change, the best part of 10 years, just about every single dip including a huge selloff in march of last year. when does it end? >> for me, a very strong growth story driven by big tech. there's a lot of innovation. very strong computer in your pocket where you can do so many things and the pandemic holds for a lot of technological innovation, and accommodated fed. when you put those things together those are in place you will see a lot more upside in the market. they are still invading, growing earnings, don't overthink it, any pullback is bought in this market.

stuart: is there any big tech stock you would sell? >> know. stuart: when you do a tv interview, give a little bit more thought to your answer, you throw people like me if you give a 1-word answer and then move on from there. i don't have another question lined up? >> if you own this. some people sold big tech company, if you have a higher growth tech, i'm not aware of a higher growth story, moving into things like energy, that has been a mistake, it is a mistake and for the foreseeable future, continues to be a mistake.

no reason to overthink it, stay long big tech. >> you were referring to me, and thought better of it. and and $100 a share, i lost my shirt. and prince harry writing a tell all book about his life as a royal, doctor fauci thinks children 3 and older, restrictions may be on the way back.

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will there be a vote tomorrow, on that $3 trillion spending package? >> the infrastructure bill, senator schumer bringing that, the progress you've end the party wants to see the reconciliation bill go forward, doesn't really matter, the progressive end doesn't matter, about bipartisan infrastructure bill but the gop is saying they need to see the final language of the gop bill before they can go forward. inflation is in focus, the white house sees inflation that will settle back down. all the spending the president wants to do will bring price stability. the president talking about how this spending will provide for the future and not spark inflation. >> we brought this economy back from the brink and designed our strategy not only for a temporary boost but to lay the foundation for long-term --

that brings everyone along. >> republicans saying look what the regulations of done combined with demand on gas alone, $3.17 a gallon for regular gallon of gas. a year ago $2.20 a gallon, but because of what we see in the economy mitch mcconnell says republicans will not vote tomorrow on the bipartisan infrastructure bill unless the language is finished. he fears democrats will pack the final bill with other things once the vote happened. mcconnell on the senate floor also laying out inflation, the responsibility of the president. >> $3.5 trillion in spending, the same reckless taxing and spending spree the democrats dreamed up when they assumed our economy would be having the opposite problem. >> he believes inflation is higher than expected, going to settle down eventually but some

economists are skeptical about it might need some help, once you let the genie out of the bottle. stuart: we need to hear some qualified economists. we should bring in anthony chan, qualified economists. the president spent a ton of money and inflation moderates. i fundamentally disagree with that. how about you? >> we have a situation where it depends on what kind of spending. of his spending to stimulate aggregate demand i agree 100%. if it is spending, to increase infrastructure, easing bottleneck pressures and make the economy enhance productivity it is not inflationary but if you look at a passage of $3 trillion it

will be a hodgepodge of things, things that stimulate demand and things that will help on the supply side and then not just the fiscal side but you have to worry about the federal reserve with $120 billion with bond purchases, the atlanta fed telling us it would be 7.6% in the second quarter, to use federal reserve that starts to think about paper ring and think of it sooner rather than later. otherwise that inflationary scenario is going to occur. stuart: that will happen, what happens if we've got 4% or 5% inflation in the fall and winter of this year? to do this taper thing putting less money into the economy raising rates and slowing the

economy. if we have 4% or 5% inflation that is what has to happen. >> we already have that today at a persistent basis. the tapering starts first and raising rates later. we need to stop the process of the economy accelerates the way it is and inflationary seeing some signs, down 50%, copper prices are down easing up a little bit, if we see those things it is encouraging, is the one that is accurate, has to do something before the end of the year in terms of planning for the tapering otherwise we will have an inflation problem on our hands. stuart: when the federal reserve take that action i expect a severe reaction in the

stock market. would you? >> there will be some reaction. there always is, that is why they are delaying it but problems don't age well. problems have to be addressed. that will be an issue but if they explain it correctly and say it is a gradual process then dislocation can be minimized but it won't be eliminated. another solution, if the federal reserve would say we look at a financial condition and have an index for that, financial market conditions deteriorate, if financial conditions continue to be healthy we go straight ahead. stuart: i think i got that. we will see you again soon. i think this announcement is ominous.

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stuart: 11:30 eastern time, we are waiting for jeff bezos news conference. when it starts we will take you there. up 500 points after a 700 point loss, almost a full rebounds. the price of bit coin is below 30,$000 a coin. the cryptos are down in sympathy. uber expanding on demand grocery delivery service now available in 400 locations across the country going bigger than that. uber at $46 a share. apple delaying plans to bring employees back to the office because of spread of the delta variant.

apple is up 2%, one dollar and $0.45 is the price there. over 2.1 million people past the tsa checkpoints yesterday pretty close to being back to pre-covid levels. not quite but pretty close. show me the airlines. they are coming back quite nicely, they took a huge tumble yesterday in the big selloff but american airlines up 5%, delta is up 3.7%. they are back on track but still at relatively depressed levels. the tokyo olympics begin friday. the chief of the organizing committee says watch out, the games are still in danger of being canceled at the last minute. the olympic committee is monitoring the number of covid cases. they will reevaluate the games if there is a sudden large spike. show me air b&b. one celebrity renting out his

home for people to watch the olympics. why do i care about this? ashley: former chicago bulls legend scottie pippen but it has a financial implication that should interest you. he's putting his mansion in air b&b which has a luxury pool of course sort of, arcade room and even indoor basketball court so you would expect to pay big bucks, right? wrong. this is where you will be interested. it will cost you $92 a night. it is available august 24th and sixth, bookings open thursday at 1:00 pm eastern in the competition is expected to be fierce. pippin has been trying to sell this property for some time. right now he just uses it as a vacation home so why not put it on every -- stuart: wait a second. why is he putting it on air b&b at such a low price? ashley: i don't know. i think he wants people to enjoy it. he's not interested in making a

ton of money. just wants to give something back i guess, but $92, pretty cool. stuart: not a bad deal. here's the story. this is your story but i know all about it. there is one popular summer destination bringing back the mask mandate. tell us where it is. ashley: disturbing development in provincestown on cape cod being advised to wear masks indoors. there's been a cluster of 132 cases and it is being linked to a fourth of july celebration. more than half of the cases in people who have been vaccinated but now all unvaccinated people including children under 12 are required to wear masks both indoors and outdoors when 6 feet of social distancing cannot be achieved. the local health board is urging high density venues,

clubs and so on to ask patrons for their vaccination status. this is two steps backwards. stuart: i know cape cod pretty well. i know they've taken a hit in the past couple summers because of sharks, whether, pandemic etc. this is absolutely bad news for them. thank you very much indeed. the bbq guys, online retailer for outdoor cooking gear have announced plans to go public. ceo russ wheeler will join me, he is joining me right now. great to have you on the show. something i don't understand, you brought in 250 odd million dollars in sales last year and you are profitable. why are you going public? >> thanks for having me. it is important to note that

unlike many companies bbq guys, growing consumer business with a 20 year track record of profitable growth, the merger, rapidly accelerating digital business operators and entrepreneurs, domain expertise and digital marketing, and successful track record. stuart: what are you going to do with the money? >> rolling 100% of equity into the deal because we believe in the long-term success of the company, the money we are putting onto the balance sheet will go to pay a little debt back, and additional am and day. stuart: a slew of nfl stars. >> the manning family, latini and tomlinson, some great

investors, great brand investors. we did a commercial with the whole manning family. eli and archie, doing a commercial, families and backyards having fun. they were greatly addressed. we have a lot of the same values. stuart: we are getting back to normal life and barbecueing, can you give us a picture as of right now, the sales, how much from last year or 2 years ago? >> sales continue to be strong. coming off of a strong year in

the tailwind with covid, by a decade, continuing strong demand. we see a lot of opportunity of continuing investment in the home, 21 is about investing in your backyard, people bring indoor living spaces outdoors. a great solution for not just outdoor tipping but outdoor living, the outdoor kitchen design and get you everything you need for outdoor living. stuart: good luck with your deal? we've seen more about that. prince harry, $20 million from his tell all book.

let's see what nigel farage thinks about it and he will take it on. any minute now -- sincerely promise you, jeff bezos and his blue origin crew will speak out after their historic spaceflight. they are ready in a press conference. we will bring it to you as soon as it starts. ♪♪ ♪♪

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stuart: if you like it is the commercial we use to see. any day now. any moment now we will get that jeff bezos news conference. we will see jeff bezos himself, to the $206 billion man who is now an astronaut, his brother

mark bezos, 18-year-old oliver daemen and 82-year-old wally funk, they will be the four participants in this press conference, four people who went up into space with bezos today and as you can see they got back safely. we want to hear from them and we are waiting for that press conference which is moments away we are told. back to the market, the dow 30, what a picture that is, 29 of the dow 30 are in the green, only merck is out of sorts and that is down a fraction. dow jones industrial average is up 530 points after yesterday's 700 point decline. in a very interesting financial story is the yield on the 10 year treasury. all kinds of explanations as to why it is so low. it has gone up to one.20%, but one.20% is historically extremely low.

that is probably a signal that some investors are worried about economy growth in the future, it is a signal that people are worried about the stock market so they are moving money out to the absolute safety of the 10 year treasury. two explanations, not sure which one to go with. big tech is an interesting story in itself. they are all up today, all of them, headed by apple which is up 2%, 145 on apple, amazon is up $18, the blue origin rocket was an amazon sideshow earlier today, the stock is up. facebook's 340, google is at $2,522 per share, microsoft 278, all green for big tech. that is not the case for the cryptos, bitcoin struggling below 30,$000 per share, per coin and there has been no significant buying to lift it back above 30, 29-8 where we

are now. i want to talk about prince harry writing that tell all book about his life as a loyal. we've got him. nigel farage. i want to know personally i think that is a terrible thing. the son of the queen of england, the grandson of the queen of england write a tell-all book about the royal family, awful. how is that being taken in england? >> the disrespect for the queen, families have rows in private, doing this in public to the extent he is doing it is dreadful and it keeps happening. there has already been one book written with his cooperation and now this and there is a very very high level of disregard for hairy. all of us don't want to see him

back in this country. frankly he is yours for keeps now. stuart: no thank you. we would like to return him but we can't do that. we are about to see this press conference from jeff bezos. i want to get this in real fast. britain returned to lifting more restrictions yesterday. is it back to normal in england at this point? >> it really isn't. we have an nhs apps, if you're in close contact with somebody who tests positive there are millions at home because they are paying. we have companies, supermarkets closing, restaurants closing because there's 2 million people maybe brought into isolation. any idea the uk is now free is nothing more than an illusion from an extremely cautious prime minister. stuart: what is that ping thing? some side of apps? >> to sign up for this apps, if

the apps goes ping you must self isolate for 10 days. stuart: i've got to go to the press conference. hope we don't get that apps here. good stuff, thanks very much, listen to the press conference. >> to remind these folks they are from planet earth and they have a mission to protect this home. that said, oliver, would you join me? [applause] [cheers and applause] >> didn't make this unique.

>> i practiced. >> say something. >> all over, you have received a special gift of the astronaut perspective. i know that you will do good things and make the world a better place. congratulations. >> thank you. [applause] >> would you join me please? >> so excited for you guys.

>> i know you want to. i hope this experience will help you to continue to do the things you are doing for humankind, congratulations. [cheers and applause] >> join me please. [cheers and applause] >> there are few people i know more deserving of this, jeff, seriously. i don't know what you are going to do next but i can't wait to watch. congratulations.

[cheers and applause] >> wally funk, would you join me please? [cheers and applause] >> 60 years. and i get to pin this on. >> best pin i ever had in my life. i've had lots of them. >> you continue to inspire us. thank you so much for doing that. god bless you, congratulations. >> thank you, more to come! [cheers and applause]

>> the first four of millions to follow. >> again, the newest international astronauts, the crew of "new shepard," congratulations all four of you. without further a do, how was it? what was it like? was it everything you imagined? >> i can answer that question but just real quick. i want to thank a few people. first of all, all of the engineers at blue origin who have toiled hard to get this done, the people who built the vehicle, the manufacturing people, the big team working on it for many years and they have done an extraordinary job of building the most reliable,

most beautiful, most fun, i can vouch for that, i will get to that in a second, vehicle. we owe them a deep gratitude and the people who kept us safe today who operated the vehicle, our trainers, everybody, just huge. i also want to thank the town of vanhorn, small amazing town. we are making a dent in it and we appreciate you for allowing us to be part of your town. and then i also want to thank every amazon employee and every amazon customer. you guys paid for all this. seriously, for every amazon customer out there and every amazon employee, thank you from the bottom of my heart very much, very appreciated.

[applause] >> now on how it felt, oh my god! my expectations were high and they were dramatically exceeded. we were talking about this a little bit in the car ride on the way back. i don't know. the 0 g peace may have been one of the biggest surprises because it felt so normal. almost like we were, as humans evolved to be in that environment which i know is impossible but it felt so serene and peaceful, the floating. much nicer than being in full one gravity. it is a very pleasurable experience, just the way it feels. the most profound piece of it for me was looking out at the

earth, looking at the earth's atmosphere. every astronaut who has been up in space say this, it changes them to look at it and kind of amazed and awestruck by the earth and its beauty but also its fragility. i can vouch for that. when i look out, we are driving our cars and moving around the planet in our normal ways the atmosphere is so gigantic. we are these tiny little things in the atmosphere is so big but when you get up above it to see it is incredibly thin. it is this tiny little fragile thing. as we move about the planet we are damaging it. so that is -- that is very profound. it is one thing to recognize that intellectually but another to see with your own eyes how fragile it really is. that was amazing. who wants to add? >> oliver, you want to tell us

how it was? our first paying customer, you feel you got your money's worth? >> it was so amazing to see from above and move around. i totally agree it felt so natural, almost like we should be doing this. i hope we are one of the first and let's hope many many more people do this because this experience we should share with more and more people. >> a special congratulations to you and becoming the youngest person ever to have flown in space. >> thank you. [applause] >> you brought with us the next generation of space explorers but another flag up there, the netherlands. everybody out there, the netherlands, the new dutch flying man. change you told me in the car about the g forces, that was interesting. >> i was surprised, they told

us what g forces would feel like on the way up. it is one of those things you hear about, you anticipate, but you really feel them on the way up. it was incredibly exhilarating and on the way back down what i had not anticipated, we hit 5g's briefly on the way back down and that is a lot fresher and unfortunately during the status check for each astronaut by the time they got to astronaut demone we were at 5 gs -- i am doing okay! had a hard time. i'm not sure what the video footage will look like. probably not very pretty. it was so exciting. >> if you haven't figured it out, i might be the oldest in space, the oliver is the youngest person in space, my brother is the youngest person in space. before, i want to do a couple more things before we to to next

questions i want to recognize two people here in the audience. we are honored today to have alan sheppard as daughters. lara, julie, stand up briefly. [applause] alan sheppard was apollo moonwalker, has a gigantic list of accomplishments but for our purposes today the thing that is most interesting about alan sheppard is that he is the namesake for this week new sheppard, this profile is similar to one alan flew when he became the first american in spies 60ish years ago. we're honored to have you here. thanks for joining us. it is incredible. i got pictures backstage.

those are getting blown up big, thank you. talk about the couple things we flu? >> we had the opportunity to bring us on loan from the explorers club we were able to fly with a piece of canvas from the wright flyer, the plane that the wright brothers flu, we bought a piece of canvas which was powerful and a bronze medallion made from the first hot-air balloon flight in 1783 which was the first time man ever left the earth in controlled flight. so we're thrilled to bring both of those along with us. >> we brought those precious objects back. >> yes we did. the the explorer's club will be pleased. >> they will be very happy. >> who has the goggles, please

bring them up to me. would you hold them. >> that is incredible. so, all right, so i can face, we also flew, these are amelia earhart's goggles, the ones she flew across the atlantic with solo. she put tape over them to have less light come in. it was so bright all the day. she was flying so long. i like to think if amelia were here, she would be very proud. [applause] [applause] i ant resist doing this.

amelia thank you. precious cargo. there you go. >> on that note, wally -- >> oh, i'm sorry, lauren reminded me. i have one more thing, which is, christina, i might need your help on this, mom, could you come up for a second. where is my mom? okay. you don't have to come up. i can come to you. i have, i wore this, i wore this necklace, and i wore this next necklace and this feather and i wore it into space and now it is for you. [applause] would put it on her myself but i would need my