volatile. i think inflation is going to continue to be in the headlines, and in the short term when i talked about stocks being the ultimate inflation hedge in the long term, if inflation is a concern, the federal reserve will have no choice to hike interest rates sooner rather than later -- charles: right. >> i think that's a buying opportunity. charles: we'll see. i don't think powell wants to do it no matter what. luke, thank you so much. liz claman, over to you. liz: i don't know, i'm looking at these markets, charles, it doesn't look like they've got any bark por bite today. [laughter] -- or bite today. these are the dog days of august. we just opened a brand new trading month. the dow hitting a new intraday high earlier in the session, but traders have been kind of taking profits since then. the dow up just 2 points, the s&p better by 4, the nasdaq up 54. just as tesla shares spike again, it's blue skies ahead for electric moped hairing start-up

rebel. beginning to be -- sharing start-up rebel. revving its engine with the launch of a brand new neat of shiny tesla model ys in new york city. the cofounder and coo is here live on how day one is going and how he plans to speed past uber, lyft and maybe even yellow cabs in this dog-eat-dog ride-hailing world. we're going to introduce you to the microchip disrupter hoping to end the semiconductor shortage using two elements from the periodic chart it says are way faster than silicone wafers. in a fox business exclusive, the-and-a-half it is a semiconductor ceo is going to tell us what his chips can do and when-and-a-half it is a will debut in the public markets. plus, the great american road trip begins where it all started so many decades ago for families here in america. ly willis takes us to the --

gerri willis takes us to the statue of liberty as americans hit the highway for summer vacation and as investors look for the travel trade. but first, a fox business alert on this first trading day of the month. the markets are trying to shed what has been for many, many years august's bad rap. the stock traders almanac, so we wanted to take this back to show you, it shows for the last 33 years august has been the worst month for both the dow and the s&p 500. okay, last year 7% gain was an outlier. let's just make that, certainly, clear. but with a huge millennial-driven deal could the suddenly hot fin-tech center help this august buck the bad trend? square powering higher by 12.8% after announcing it'll pay $29 billion for the buy now, pay later firm afterpay which has 16 million customers and complements square's cashout. afterpay is charging higher by

39.7% right now. this deal puts the mobile payment giant in direct competition with a firm which right now is jumping as well by 15.25% but also with paypal which is slightly lower by 1%. both already have buy now, pay later options. and you know what? they're not alone. it appears apple might want in on the action, partnering with goldman sachs to develop a new service that would allow consumers to pay for apple pay purchases in installments. is the fin-tech sector the gasoline that may just keep the market's motor running hot at least this time around? to our floor show traders, all right, scott bauer and tom hayes. scott, could this deal which is very much a millennial play throw off the august bears? and if we were to see a classic august pullback anyway, what's first on your shopping list? >> so first off, liz, i think this is a one-off. i think the square deal is a great deal.

i'm not looking for a continuation in the space of other deals coming out like this whether it's in august or even to through the rest of the year. i think this is, you know, kind of out of the blue a big one-off. now, let's talk about august. august, as you said, one of the worst months of the year, especially after markets have been up the first half of the year. when the s&p is up 13% or more first half of the year, august is down about a half a percent. that being said, we are in this buy the dip mentality which has worked. so i really think there's a few sectors and a few individual stocks to go from here: and i'm not talking about the reddit or the wall street bets stocks. first off, the banking sector. it's imminent that the fed is going to make an adjustment. we know that's going to happen. but it's not really that why i love the banks so much, it's because the big with guys -- jpmorgan, goldman sachs, morgan stanley -- they are still going to be recording record trading profit. that's number one.

the semis, i've been talking to you for a while how i thought the semis were going to break out to all-time highs, and and we are just about there. i believe they have a lot of room to go still. now, individual stocks real quickly are, love amazon. this pullback after the let's call it awful news that they had on the report here, big buying opportunity. i also love nike. nike is unbelievable. even though their pe is higher right now than it has been historically, their growth rate has accelerated. love the digital space they're in. those are two stocks i'm really watching. liz: nike hit an all-time record last week, i know. tom -- [laughter] you saw scott just talking about the financials. you actually are picking citigroup. but do you get the sense that this august is going to somehow buck the trend, or as scott says, maybe not? i mean, we're looking at a very different sort of landscape at the moment as we try desperately to emerge from the pandemic and, you know, there are a lot of question marks here. >> yeah.

well, liz, scott mentioned banking and he mentioned semiconductors. so i have one of each. i do think this is the time to use any pullbacks to buy the highest quality stocks. so so we've got three for you. citigroup is trading at .87 times tangibles, in normalized times that'll revert back to 1-2 times tangible book. and it's a turn-around story with jane frazier. she's brought the efficiency ratio down from 64% to 52% by cutting costs. anything below 50% is great, and it pays you a 3% dividend yield while you wait. and then on the semiconductor side, we like intel. it's trading at 11.8 times earnings versus its historic multiple of 15 times. they've got the lion's share of the server-processer business which is going to drive growth in the short term, and you're paid a 2.5% dividend yield. now, my third one is interesting in contrast to scott. he's talking about amazon. i like amazon, but we saw last

week that the online sales are coming down a little bit. people want to get out and about, and believe it or not, one of the beneficiaries is going to be dollar tree, trading at just 14.5 times earnings. their average ticket went up 9.5% last quarter. same-store sales comps were the best since 2017, so we think that's an opportunity moving forward as well. liz: yeah. scott, you know, 30,000 feet when you look at where the market has been this year and where it is going, x these specific names you and tom have both choice r -- chosen, there was a good article on investors.com, advance isers have been barely outpacing decliners. new highs are shrinking while new lows remain high, and then you've got the class seasonal patterns -- a classic seasonal patterns. it almost feels it wouldn't be unrealistic to see some type of

correction or pullback in the next couple of weeks. >> no, it wouldn't, and that's why i am telling my students and people that follow me in these market highs that we're seeing, even though i believe we're going higher, volatility is still really cheap out there. we're not seeing the vix down at,ing you know, 12, 13 or anything like that, but volatility is pretty cheap. so people should be buying insurance but still staying in those sectors or staying in those stocks that they want to be in moving forward here. could we see 5, 10% pullback? yes. and i agree with you, that would be healthy. but million this buy the dip -- until this buy the dip mantity is -- mentality is behind us, i think we've got to stay the course. liz: we hall see. scott power, tom hayes. and, yes, quick check of the vix, it is moving higher up about 4.8%. we've got this fox business alert. merger monday going all hollywood in today's pop stocks.

a new media firm backed by blackstone officially has snapped up reese witherspoon's hello sun shine production company for $900 million. the winners of the bidding war for witherspoon's hitmaker behind the morning show and big little lies run by none other than disney dynamic duo kevin mayer and tom sags. reese herself will join the currently unnamed company's board. blackstone is trading not too dramatically in any one direction here. same with apple which had reportedly expressed early interest in hello sunshine. as we look at owl of those, let's bring it over to foot locker, stumbling at this hour. the purchase of two rivals, shares are down 1.25% for foot locker, and capris holdings

sitting pretty after upgrades. the stock up 2.25%. a win streak on better than expected quarterly are results and a rebound in the luxury market really pretty much the catalyst for the bullish move here. right now as you see it's moving up. but we also have levi strauss buttoning up big gains as steeple has started shares at a buy, good enough for a 4.8% bounce for the stock. post-pandemic closet cleaning kicks off a, quote, multiyear denim upgrade cycle. i've heard of laptops and phone upgrades, but denim upgrade cycle. okay, there you go. and ferrari trying to right itself back on road after missing on second quart profit and revenue estimates. the sports car maker says it still expects the finish the year at the top end of its guidance and it is very positive on electrification.

can we get, can we get ferrari's stock up? if because i do want to just check it here for our viewers. we do have ferrari saying, in essence, that fully electric ferrari, while it has yet to be announced, is something that the company truly is psyched about. shares anything but souped-up at this hour for ferrari. have you checked out shares of tesla right now? we are looking at gains once again set for their fourth day in a row of upside moves. tesla up about 3.9% at this hour. uber and lyft are on the move ahead of their latest check you should the hood later this week with. under the hood, but could those green arrows turn red due to new blue competition? listen. >> is it blue skies ahead for tesla as electric moped start-up rebel prepares to unleash a fleet of 50 blue model ys in

new york city? take note, it could be coming to a city near you, and what does that mean not just for tesla, but all the other ride-hailing companies? i've got the story on "the claman countdown" coming right up. ♪ ♪ usaa is made for the safe pilots. like mac. who can come to a stop with barely a bobble. with usaa safepilot, when you drive safe... ...you can save up to 30% on your auto insurance. usaa. what you're made of, we're made for. get a quote today. (struggling vehicle sounds) think premium can't be capable? think again. ♪ (energetic music) ♪ ♪ ♪ ♪ ♪

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♪♪ liz: ev sales in china have resumed their torrid pace. lee auto and xpeng more than tripled compared to a year ago, nio doubling its take. xpeng better by 7%, nio up 3%. however, tesla still dominates the market at this moment. could its supercharged stock be the result of a new company taking the tesla wheel? this morning revel launched its on-demand car service in new york city. so we went to their brooklyn headquarters to see their 50, 5-0, 50 bright blue tesla model

ys available anywhere south of 42nd street in man that the tan. -- manhattan. how does revel plan to take on not just taxis, but uber and lyft as well? cofounder and coo paul suey with is joining us live on day one of the brand new service. okay, tell us how launch day is going. how many rides have you logged so far on the app, what was it like when that first order came in? >> hey, liz, thanks for having me. it's been a little crazy. 8:45 -- the ride-share -- [inaudible] a lot of work has gone into this day. of it's the culmination of a lot of work for the revel company as we work towards our overall mission of leading cities into the electric future. it's a big day for new york city. this is new york city's first all-electric ride-share service with 50 tesla model ys and a fleet operated with drivers as well. liz: so were there cheers when

the first, i guess, request came in from one of your customers? what time was it? where was it? where'd they want to go? >> honestly, i don't even remember because i was so excited -- [laughter] i blacked out. it's a little bit of a blur. anything right now i would probably be making up -- [laughter] but the team was definitely excited. we're seeing a lot of excitement. we already had even going into the launch today over 50,000 units on our wait list. i think a lot of it because people are just excited that it's a tesla, excited to try this new service and just keep in mind for the vast majority of people that are try a ride-share, this is the first time they're not only getting in a tesla, but an electric vehicle in general. liz: yeah. and a blue one, no less. give us some nuts and bolts. how are these rides priced? >> yeah. so we plan to be competitive right now, but we're going to take it one step at a time. one thing we've always done as a

company, we've always started small, learned from our operations. make no mistakes as we launch -- [inaudible] really focus on -- making sure that everyone has access -- [background sounds] liz: okay. so i know it goes by you pay your drivers by the hour, could you give me a sense of what it would cost to go from 42nd street down to wall street, for example? >> competitive to an uber or lyft ride. i think you made a good point there when you talked about or at least mentioning our driver model which is a little bit different. we, as to opposed to using the independent contractor model, we're employing the drivers. we're giving health care, guaranteed wage, paid time off and -- [inaudible] off the backs of drivers. we cover this as a company. liz: it really sounds like

you're rejecting the gig economy model. i've got a couple questions about that. number one, was that sort of proactively trying to avoid the lawsuits that uber has faced, you know, overseas and certainly questions in the state of california and also on top of being magnanimous to the drivers, if you're paying for their insurance and their vacations, how are you going to make money on this? i mean, what is the plan to become cash flow positive and make some real revenue in. >> yeah. this has been in the dna of revel from the very beginning since we were a start-up, brooklyn-based, just five employees in a maul warehouse about -- small warehouse about a mile away from here. i think one thing that that we've seen when it relates to ride share, there's just a lot of demand for this model. drivers want the option. they want the option to drive as an employee, they want access to a guaranteed hourly wage, health care benefits and paid time off. they want that choice. we as a company, one thing that we're doing --

liz: [inaudible] >> go ahead. liz: i was just going to say yesterday, and what i found fascinating is what you've done on the inside of these cars. you do have to be different from the ubers and lyfts of the world if you're going to attract people, and beyond the tesla are issue you took out the front seat, the front passenger seat there. and then you've also got these tablets in the back that allow each customer, passenger to really control everything without having to is ask the driver, hey, could you turn up the air-conditioning. what is the thinking there? >> yeah. exactly. i think what we're trying to accomplish, you think about ten years ago or the first time that you tried a ride-share service, this was really a wow factor. using your phone to call a ride for the first time, we're trying to bring that wow factor back. so i think the fleet of teslas, baby blue model ys, controlling your ride experience. we've also installed -- [background sounds]

liz: the winding is a little rough out there, but let me just try and eke out one more question here. you've got to navigate not just the ubers and the lyfts of the world, but the yellow taxis. you know, the new york taxi commission, they make people jump through rings of fire to even get cars on the streets here. tell me, is your goal eventually to really take over yellow taxis, and how do you do that when taxis are way less expensive these days than the surge pricing that we've seen at uber? >> our goal is to provide drivers with the access to drive, riders to access a vehicle is. taxis are treat-hailed, so being an app business -- [inaudible] the good news is not just in the state of new york, but the city in general, we have the goals of

ride-share, for-hire with drivers access to to a living wage, and we know we can accomplish a lot together. liz: okay. paul suhey on first day of revel which is very known, certainly, for their mopeds and their moped service, now launching -- at least to start with, 42nd street and south of it -- the new revel model y ride-sharing program. let us know when you expand. thanks, paul. >> thanks, liz. liz: road trip, the freedom of the open road fueling the travel surge as a new wave of covid hits home. lady liberty seeing some big green as travelers crisscross the red, white and blue. we're talking the economic impact and investment opportunities around the great american road trip. that's next. with the closing bell ringing in 37 minutes, we do have bitcoin suffering a slight hangover headache after a roaring weekend

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♪ liz: we are just getting this breaking news in. republican senator lindsey graham of south carolina has tested positive for covid-19. he just tweeted and he said that he was informed by the house physician that he tested positive even after having been vaccinated. when you look at the political ramifications of this, that means one less republican vote for the infrastructure bill. graham was a large part of the group of gops and democrats who negotiated the bipartisan infrastructure deal. now, leader schumer, the senator

from new york, has said he wants to get a vote on the infrastructure deal by thursday. senator graham, of course, will still be in quarantine. there's that angle of it. and then we take it to the vaccine makers who actually are are hitting new highs today as the white house confirms that at least 70% of americans have now finally had at least one covid vaccine dose. pfizer and biontech both moving higher, pfizer 2.7%, bind tech 3% -- biontech. this as "the wall street journal" reports that the fda is facing pressure to fully approve pfizer and biontech's vaccine as early as this month, a move many think could help boost vaccination numbers as the delta variant fuels a fourth wave across the nation. the resurgence is also allowing all pfizer, biontech and moderna to raise prices in their latest contracts with the government.

that according to the financial times. okay. so earlier this morning we started to hear all kinds of issues about this, but now we look at the delta variant, and you pair it with high gasoline prices, and that may be weighing on americans' minds as they road trip this summer. according to gasbuddy's mid-summer travel survey, 10% fewer americans are planning to take a road trip this summer than they were in may. yet demand for gasoline just hit the highest level of 2021. breaking down all the summer travel with special guest lady liberty is gerri willis. there are travel implications and investor implications here. >> reporter: you betcha. and, liz, let me tell you, we are kicking off an entire week of coverage of the great american road trip. and you say people are not traveling? what we're seeing is more and more spoke toes getting on the road -- folks getting on the road. when you compare it to the cost of airfare, let me tell you,

it's pretty expensive. lady liberty, right, 300 feet high, she is or soaring over the upper new york harbor. you can see brooklyn, the brooklyn bridge, new york, you name it from here. as we said, more americans than ever are driving to their destinations. 47 million in july as airfares soar. but the recovery is not even. let me tell you about the numbers here at the statue of liberty on ellis island. visitation is 40% below its peak in 2019. not yet recovered to those levels. and experts are actually telling us that what they need to see is more visit ration from europe, especially the u.k. and, oh, wouldn't it be great, for example, if broadway were reopened. all of that will make for much, much better visitation here. listen. >> numbers are trending in the right direction. we're definitely seeing great visitation on weekends as long as the weather holds up.

we're definitely seeing very nice visitation. our hope is that when broadway reopens and we see that movement and the u.k. market opens up that we'll get much closer to 70-75%. >> reporter: so what's so so interesting about lady liberty here is that 12 million immigrants saw her coming to this country for the first time, and this is 62 years starting in 1892 when we had this mass e rush of immigrants. the last detainee left ellis island way a back in 1924. and i just want to tell you, liz, i don't know where your family's from, but if you're part of the 40% of folks whose family actually came through ellis island and seeing lady liberty at the time, you can do research at libertystatue.org. 65 million pieces of research are. imagine that. that's just amazing to me. you can really find out about your family, all kinds of details about how they came to

this country, were they in steer act, were they sick at the time. there's all kinds of details for people who want to know about their family and where with they're from. liz? liz: you know it, gerri. my grandparents came in to ellis island from romania. from romaining ya. >> reporter: wow. that's great. liz: i've always wanted to know more, so i am hopping right on that, for sure. thank you so much. it's so good to see you out in the field. gerri willis. imagine, folks, i have this kind of perspective for you. imagine silicon valley without the silicon. well, we've got the california-based microchip disrupter that says its semiconductor technology can fix the global chip shortage without a single bit of silicon involved. are we about to see the ultimate tech disruption? with the closing bell ringing in 27 minutes, dow is at session lows right now, down 60 points. maybe we just announced that

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♪ liz: news breaking this afternoon that google is sending shock waves through the semiconductor world announcing that it is shifting away from qualcomm processers to its own. google's processer, known as tenser, will power the upcoming pixel 6 and pixel 6 pro phones that are set to launch later this year. qualcomm says it continue to work with google on current and future products, today's news marks the end of an era. qualcomm's chips have powered google's phones for the past 15 years. now, while google becomes the latest tech company to design its own chips in-house because apple's already doing that, the semiconductor shortage is still rocking everything from autos to

washing machines the smartphones p and it could last years. in fact, intel's ceo issued a stark warning that the supply chain crunch will get worse for the rest of the year and could stretch into 2023 and then on top of that, another ceo believes the chip shortage will not disappear fully until 2023 adding his company will only be able to meet 70% of customer demand. but could the key to ending the crisis be not silicon, but gallium nitride? this is a metal a one company is using the power the next generation of microchips. navitas' gene sheridan joins us now in a fox business exclusive. gene, welcome. give us a quick science lesson here. what is gallium nitride? >> thanks, liz. thanks for having me. so gallium is a metal that actually is produced as a natural by-product when you make

other metals, aluminum mainly. and when you combine gallium with nitrogen in the air, you form gans, a ten times more powerful bond than silicon, and it's two times higher electron mobility. all that means, we can build a lot of power in a tiny chip. it can switch up to a hundred times faster than silicon, 40% energy efficient compared to silicon and, ultimately, a lower cost wave. liz: hold on -- >> it's a big change. liz: you're saying that everyone in the valley whether it's, you know, nvidia, intel, micron, they're using silicon and they're wrong? that your way is better? >> no, actually, gan has already taken off in displays for making displays more efficient and lower cost. it's already taken off in wireless data transmission. our company is exploiting it for power chips, power electronics.

we would actually be the power supply for nvidia or intel's cpu. power is everywhere, a huge part of the energy consumption of our supply chain. liz: yeah. well, chargers are everything. if you can't run these electronics without the charging capability. how did you discover this, and explain how you've grown because you guys have been merged with a spac, and you expect to have your debut when? >> that's right. we'll be doing an ipo, trading as navitas in september. frankly, we've been monitoring and exploring and thinking about this possibility of gallium nitride for decades. it's been a long time in the making, but we started the company just seven years ago and quickly invented how to commercialize this technology with the world's most advanced power chip. we call it a power-integrated circuit. and we're now, seven years later, the early market leader

and technology leader in this space. it's just beginning, but it's expected to be a $13 million market that will convert from silicon to g ark -- gan, and it's just beginning. electric vehicles will be moving, data centers will be moving to gallium nitride. so we've got a big future ahead of us. so essential to really step on the gas and exploit that potential. liz: we're looking at your customers, lenovo, amazon, dell. these are, obviously, huge global names. are you worried at all about the china connection? and we do have a political situation between the china leadership and the united states right now. >> yeah, we look at it as a incredible global opportunity. we have almost half of our companies in china today serving those china customers as well as in taiwan, korea, japan, europe. it's a very global business. we need to serve it in a global

way but also acting globally. especially china because it's so essential for the global demand for these chips. we feel good about the western world as well as the eastern world, and we're very well positioned to do both. liz: well, for a guy who started a company seven years ago in a trailer in malibu, and now you're going -- malibu, california, and now you're going to go public by september. please come back, gene. we can't wait the see this new technology that you're producing. thank you so much. >> thank you, liz. look forward to it. liz: traeger is still grilling up the green for investors as it enters its first full week of trade. shares jumping another 9.5% on so much the huge jump when it went public last week. even with the threat of new competition from welcome back weber grill coming -- from weber grill coming later this week. not all of the big ipos are smoking today. charlie breaks it on what's really behind the underwhelming performance of some of the highest profile debuts including

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gasparino. what does robinhood's ipo tell you about investor appetite for all ipos out there? >>st the not just robinhood, it's through an investment vehicle, solo house through mcg, both are below the ipo print, what they sold it out. soho house is trading at a around 13 today, robinhood was at 38, as you said is, a little bit of a bounce but still not at that ipo print level. you obviously want as nice bounce, that's why you try to price it at the low end of the ipo which underwriters kid in both cases -- did in both cases and still it's below the offering price. so why is that happening in you know, a simple thing, liz, and both of these companies try to reach out to retail investors in sort of a unique way. robinhood had a platform on its app where its customers could

participate. same with soho house. they're not an app, obviously, they're a private club. very good private club, by the way, i've been there myself. liz: ooh ooh, fancy. >> they allowed internally their clients to buy a hundred shares each. so it was marketed to the soho house clients. and in both cases it kind of fell on its face. the question is why, and i think this is kind of a trend. you see a lot of these companies open up their ip to oz. to -- ipos to investors at the same time institutional investors are balking at valuations. i'm not saying they're intrinsicically linked, but it's clearly a con fines here. both of those -- confluence here. both of those ipos got the cold shoulder from institutions, from what i understand from my trading sources. both of them opened up bigtime to retail particularly to their

clients. and you've got to ask, are retail clients not getting the word which is that ipos that are coming to market now, a lot of these companies have problematic valuations? both robinhood as well as soto house, mcg, are losing money. both are, obviously,. ramping up revenues, in both cases they're getting more users, more clients in terms of soho house, more users in terms of robinhood. but you see where i'm going with this. the institutions are back off while the retail is getting involved, and the retail is not -- liz: no, they're -- hold on. charlie, sorry, i just have to ask you because the word was last week that it was the retail investor that wasn't interested in robinhood, and so much so that the underwriters couldn't stabilize the stock on day one. >> well, now, let's be real clear, usually on inipo -- yes and no, okay? usually you want to sell most to

institutions. you don't want to open up 30% of it to retail. that's a lot for retail. usually it's 1%. the robinhood ipo opened 30% up, and it was doing so, as i said is, because it could not convince enough institutions to buy it. okay? so what they're saying, essentially, is they couldn't match the 30% that they opened up which is almost unheard of out there, 30%. like i said, it's usually 1%. by the way, i'd like to hear the final numbers. i hear there's something like 18-20% which is still large, okay? so that's the sort of slight of ap hand here. they opened it up is large because they couldn't get the institution ises in, and then later they cried that they couldn't get the retail guys in. well, guess what a? you couldn't get anything more than 20% which is still huge. so remember, just watch sort of the word games they're playing here. it looks like these ipos are

overvalued and the institutions are sniffing it out first, and a lot of retail people get caught holding the bag. soho house is not getting major complaints from its clients. they're in it for the long haul. back to you. liz: all right. charlie, i don't know how you get to go into soho club but i don't. [laughter] charlie gasparino, thank you very much. i've been to the l.a. one but new york? doors are shut to the redhead. stocks in session lows as the first week of august kicks off. look at the dow. folks, when we began the show, we were down just a few points, now down 106. today's countdown closer is reading the charts to tell us if the markets are heading even higher or will be hit by the august effect. scott redler's next on "the claman countdown." don't go away. ♪ ♪ you oughta customize your car insurance with liberty mutual,

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♪. liz: we need to let you know, take two, simon property are two all-stars on the deck leading off after the bell the second big week of earnings season. we have meganames from clorox to live nation, virgin galactic, ea sports, general motors, marriott, all waiting in the wings. with earnings questions still in the air will it be enough to power the market through the end of the summer? let's get the "countdown" closer, scott redler. we are at the lotion of the session. we're hearing on cnbc, one of the top fed voices waller, tapering must start in september. what is going on here? we're going down 123 on the dow and nasdaq lost all the gains? >> it is not good start with opening flows that were sold. a institutions and funds took

strength to sell not a goodingnal. not that august could be as strong as some say. they sold megacap earnings. they sold after pell, they sold microsoft, they sold amazon. they sold a lot of big leaders, captains of the market. today's action says or confirms it, the small caps opened up. they have been lagging. they're on the lows of the day. traders need to take it step by step with a little less risk, or spend a little bit more time on the beach or in the mountains because the action right now doesn't look like we'll have momentum to the upside. liz: unhelpful, certainly when we started the show the russell was low. 13113 for the small and mid-caps. what do you do if you're not going to the mountains as a trader or investor, what do you look at if we start to see shakiness in the markets? >> you see high levels of cash.

if you're a strong in the market, hold multiple positions. it is not a big deal to have less positions. when i say low gross, low net, what does that mean? you're trying to make less, you could lose less. you look for opportunities. just because we reverse like everyone will start talking about. 10% off highs, 15% off highs. this is a little bit of a cautionary signal if the stock you're in changes, the reason why you're in it changes you have to adjust. if you're an investor stay the course. moment in time, keep monthly flows in. if you're a trader have less on, be careful picking spots. go with names that acted well post-earnings, not the ones that they sold. liz: 20 seconds to go here before the bell. too bias towards bullishness, that a danger right now? >> i think it is a little bit of a danger. watch twitter and snap. they went up post earnings.

if they can't hold up we're in a little bit of trouble f apple can't hold 144ish, tech could get hit. same thing with the post low in microsoft. i'm a little bit more cautious. [closing bell rings] liz: looks like we're closing at the lows of the session for the most major indices, volatility index doubling its gains. that will do it for the first day of august. "kudlow" is next. ♪. >> hello, everyone, welcome to "kudlow" i'm david asman in for larry kudlow. david: i'm david asman. hello, hillary. reporter: senator lindsey graham saying in the last hour that he

has covid-19ve