>> i don't know retail. i think manipulation, i think it's weird that they dumped 98 million right after a giant jump five days after. why didn't they sell on the day of the ipo. doesn't add up to me whatsoever. charles: yeah. great observations, matt. thank you so much is. i appreciate all the research you're doing. hopefully you come back real soon. pretty good day in the market. liz, it's amazing, we're holding up pretty good just one day before the jobs report. liz: indeed. and, you know, right now it's interesting, two major stories breaking as we head into the final hour of trade, charles. the nasdaq front and center, jumping into the record act at this hour aztec stocks power the index to a new intraday high. all we need is a gain of 60 points, the nasdaq is up 96. markets overall rallying just as president joe biden gets set to speak at the white house. let me explain what's going to happen here. see that picture on the screen? we are minutes away from a major

announcement from the president who is expected to sign an executive order requiring new vehicle mileage and emissions targets including an ambitious push to convert up to 50% of american cars on the road to zero emissions by the end of the decade. we are going to take you live to the south lawn of the white house and show you all the stocks that could benefit or get hurt as soon as the president's remarks begin. in the meantime, the ceos of general motors, ford and solantis are on hand for the big day, but where's tesla's elon musk who, apparently, didn't get the invitation? the man who literally wrote the book on musk and tesla is here live, tim hilling begins on why he's -- higgins is mia on that white house lawn and whether the president's big news will be a game-changer or a toothless tiger. and the travel centers of america ceo is here to talk about the role his truck stops

will play in the buildout of electric vehicle charging stations and what it might mean for his gasoline sales. all right, here we go. one eye on the nasdaq record and the other on the white house where at any moment president biden will outline his electric and zero emissions vehicle initiatives and discuss strengthening anti-pollution standards. in a statement out earlier, gm, ford and stellantis say they support the president's goals. 2.2% of auto sales through june were electric vehicles, that according to edmunds.com and z prime. all three had previously announced their own plans for all-electric fleet, ford and stellantis hoping by 2030, and gm's goal is to go all ev by 2035. with the u.s. transportation sector the single biggest contributor of carbon carbon mo,

equating to 4.8 billion tons of emissions in 2021 according to the u.s. energy information administration, the question is will this executive order, by definition, have the power to change that? is to edward lawrence live from the white house. we've got a bunch of questions. number one, will the eo have any teeth, and will the government invest alongside the auto companies who are saying that they need the money to get to these goals? >> reporter: the executive order's nonbinding, so it won't have a lot of teeth, but you're going to have the epa come in behind it and offer some of these recommendations to set up some of these standards. as you mentioned, the big three automakers are going to be here, also leaders from the united autoworkers union is going to be here. but the elephant in the room, as you talked about it, tesla was not invited. the company in some ways pioneered the mass producing of electric cars, and the founder, elon musk, has been tweeting about this. quote, yes, seems odd tesla was

notten invited. so when -- not invited. when the white house press secretary was asked about this, she kind of deflected. >> we, of course, welcome the efforts of all automakers who recognize the potential of an electric vehicle future and support efforts that will help reach the president's goal and, certainly, tesla is one of those companies. today it's the three largest employers of the united autoworkers and the uaw president who will stand with president biden as he announces his ambitious new target. >> reporter: definitely got the cold shoulder because they do not employ a large amount of union workers. finish the president will announce a couple of things, he's going to ask for or call on half of all autos have zero is emissions by 2030. the president will outline a new set of emission standards not only for cars, trucks and suvs, but also heavy work trucks through 2026. the president wants some short-term goals here, but he also wants to develop long-term fuel efficiency and emissions standards. now, some other companies that rely on autos are also onboard

with this push from the president. here's a statement from the lyft policy officer, lyft shares the white house's goal of slashing greenhouse gas emissions by 2030, that's why we're committed to reach 100% ev iss on our platform this same year. the industry is shifting, but the white house wants to push that shift to be faster than they want, than the industry wants to do naturally. liz, back to you. liz: yep, we'll be watching it. stand by, edward, on this momentous day, obviously, for where, no doubt, the biggest statement ever made by any administration regarding electric vehicles is about to take place. where is tesla? and if anybody knows why tesla, the world's ev leader, isn't there, it's tim higgins who's just released his book about elon musk and tesla called "power play." tim, elon musk is tweeting that tesla wasn't invited, right? odd is right. where is tesla? you just heard edward say maybe

because it's the big auto industry names that employ the most people, do you think there's a different component there? >> i think maybe that it's a big issue there, united autoworkers. they do not represent the workers at tesla's factory in california. there's been an effort by the uaw to organize there, but it's never gotten very far, and, in fact, elon musk has fought very hard to prevent that kind of thing to occur. joe biden is literally supported by the uaw, and they're going to be there today, so that's probably, if you put a bet on why elon's not there, that's the reason. liz: it is amazing to me that that is even an i issue on a day where the message is so important. i mean, you can argue what elon musk and his team at tesla have done is nothing short of miraculous considering they've been attacked by short sellers, by haters, not to mention the

oil industry. anded today would not be happening if it weren't for tesla, correct? >> well, you know, you bring up an interesting point. you're asking about the teeth behind the executive order. in some ways that executive order doesn't matter. what's driving these automakers to race towards electric future is the future that elon musk has articulated and demonstrated with the model 3 compact car and tesla itself, and it's helped kind of build support for the idea of electric vehicles around the world. you see regulators in europe and china pushing car companies there to go electric. so the u.s., those u.s. automakers are having to go towards that future in part because that's where investors think the future is. and you see tesla's stock way higher than anybody else in the auto industry. liz: yeah. and their market cap as well. give me a sense of how we get where president biden says he'd like to arrive at, and that is 50% all evs in a rather short taoism.

i mean, don't you need the cool factor? tesla was able to create a car, the model 3, which was affordable and was cool enough, and it was something that consumers would want. we just -- paul jacobson of general motors was on, and he said, well, we've got the a all-electric hummer coming out, and that is -- [laughter] something that would definitely turn heads. we can show you on the screen what it looks like. and then, of course, you've got ford coming out with the all-electric f-150. there's a wait list of more than 120,000 people for this thing. the industry is booming, is it not? >> it is. and that, you know, it goes back to the kind of founding of tesla and the idea if you could make a car that was electric that was cool, that could change people's minds. remember back when general motors was originally trying to do electric, the ev-1, kind of the that the car had to a-- the thinking that the car had to appeal to people. it was, essentially, kind of like a golf cart.

and elon musk and tesla, they saw something else. they wanted sexy, they wanted power, they wanted cool. and that's what they came out with the roadster and really with the model s showing that they could build best car that happened to be electric, and that is one of the key takeaways to tesla's success, was kind of honing in on what the consumer was going to want. and, oh, it happened to be electric. liz: we are seeing just about every name in the space -- workhorse, lords town, canoo, we also have fisker moving higher, ford and general motors jumping 2, 3% right now ahead of this. we still haven't gotten the two minute warning for the president, but i've got to turn to the book itself, "power play," that you have just written. there were all kinds of little anecdotes in there, one of them is the collective attention of the world, and that's apparently a conversation that elon had with tim cook of apple back in the day where he really needed

some help. elon's denying there was a conversation which apparently turned a little testy, and cook is denying it, but why don't you tell us what happened in that conversation as your research has turned up. >> it's interesting, as detailed in the book, this story of the conversation is what elon was telling some of his team members. and during my reporting, i talked to multiple sources who heard that pretelling of things -- retelling of things. what was going on there was, essentially, elon was sending the message that tesla was on its own, tesla was going to be controlled by elon, and they needed to figure out a way to get tesla out of that problem. and it was occurring in the 2016 period when the model x production was troubled, cash was low, stock was falling. and you could imagine a scenario where people were hoping a white knight would come in. elon wants to control tesla. that's the story of tesla going back really to the beginning. it's a fight for control of the company, control of the vision, control of the market.

and that's playing out today, if you will, that fight for the power of the car, who's going to control that vision. liz: yeah. well, we are looking at tesla above $700 a share right now. it's at 714. the book is called "power play." tim higgins, thank you very much is. you beat walter isaacson to the chase here. he, of course, is writing a book about elon as wellful check out tim's because, boy, does this have a lot of information in it that will really make it, even if you never imagined buying an electric vehicle, it's that winning and willful sentiment that elon musk has that helped him build tesla. thanks, tim. >> thank you. liz: we do have our eye on the white house. dow is up 205. s&p better by 17. s nasdaq up 94. if we stay here, that will be a brand new record. we are coming right back. ♪ ♪

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course, the president is expected to announce new ambitious emissions targets and a push to go all electric, at least 50% of all cars going all electric by 2030. and i would just like to mention too as we're watching all of this, we do most of the stocks n the -- we do have most of the stocks in the space moving higher. of course, the charging names, charging stations, that's going to be a big part of it. speaking of charging, the biggest stock bull charging down wall street is now goldman sachs. the firm's strategists are lifting their year-end target to the -- for the s&p to 4700 citing strong earnings growth and low interest rates as the reason. now, stocks can surpass record levels, but low interest rates? they may come up off the floor as fomc's vice chair just said yesterday during a peterson institute event, the fed may start to tighten the reins on the interest rate horses by the

end of next year. so what's the trade now in anticipation of when that happens? let's get right to our floor show traders, greg branch of veritas financial and phil flynn. greg, i'm thinking if we stay on this growth track which is pretty, pretty hot, it could be sooner than the end of '22. am i wrong there? >> no, i don't disagree. i think, look, the claims number today showed that the delta variant is not yet proving deleterious to the economy. we'll see if that maintains. but as you said, i think when we're looking at the s&p, i'm much more comfortable with growth in tech right now given that we haven't really seen how the rising inflation, how the input costs, how the supply shortages are going to impact in that quarter. and so i'm not comfortable right now being aggressive on the s&p until we know what that looks like, particularly when we calculate in that the delta variant is affecting our trading

partners, our sourcing partners. and they they are mush less progressed on -- much less progressed on the advantage vacn curve than we are. liz: i just want to let our viewers know we need to be up about 20 points on the s&p, we're up 16 at the moment. let me just get to you, phil. give me your macro picture here. the fed fund futures are indicating there's a 43% chance we will see a rate hike by the end of 022. >> i mean, that's good news, isn't it? i think -- doesn't it show that the economy's getting bettering right? and i don't think that the inflation fear is all bad, right, because we haven't had pricing power. admittedly, there's a lot of inflation issues that are being caused birdies locations in the market because of covid is, but ultimately what we're seeing on the earnings side, things are looking pretty good. so goldman is looking pretty good. so why not dance with the girl

that brought you to the party and buy goldman because, you know, in an inflationary environment and a rising, you know, interest rate environment that stock should do very well. you know, but it's kind of interesting, you mentioned the electric car stocks, joe biden, hey, the stocks are going up. why wouldn't they go up? we're paying for it, the taxpayers, right? you know, all these companies are saying, yeah, we're all onboard, joe, as long as you get your checkbook out and start sending us money, right? and sure, you know, we'll take your money to go 50% electric, but every one of those companies said they wouldn't do it unless the government supported them. so this is -- so when you see those cars out there that they have at the white house, we paid for those. liz: yeah. >> or going to. liz: greg, quickly, give me a sense, if you could, you mentioned big tech growth area. is there a particular area, and what about the financials? >> right. so in terms of tech, what we saw this earnings season is that

they completely decimated the narrative that the result of the strong quarters we've seen up until now have been a result of covid bump-up or pull-through. there's a cloud cycle going on, there is backlog in hardware, there's a software cycle, a digital advertising cycle, those are all tailwinds we expect to comet and, quite frankly, are somewhat immune to inflationary pressures and input costs. in terms of financials, of course net interest margin and having a more favorable net interest margin environment is the tide that lifts all boats. but until we get to there, i would, as we said, stay in those big conglomerates that have strong capital marks, strong m&a. that's been carrying them these last few quarters, goldman, morgan stanley, jpmorgan, that's where i would wait for that. liz: some of the best in class. greg, great to have you. phil, we appreciate it. the crowds have is begun

gathering on the south lawn of the white house. we're going to take you back there as soon as the president's event begins. there are major implications for oil stocks, electric car stocks, regular car stocks, trucking names and charging names. stay tuned. with the closing bell ring anything 40 minutes, time for our crypto check. bitcoin surprising the bears, climbing from 37,000 earlier this morning to 41,226 right now. and as ethereum climbs about.8% at 2800, interesting note, folks, furniture maker ethan allen will be changing its ticker from eth to etv effective monday to avoid investor confusion with ether. we're coming right back, don't go away. ♪ ♪

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♪ liz: breaking news, as the nasdaq and the s&p are very close to all-time records, we

take you to the south lawn of the white house where the president is about to announce that he will make a rather ambitious target of having 50 president of all -- 50% of all u.s.-made cars go all electric by 2030. you're looking right now at bernie ricky, president of the uaw's local 600. and so we're looking at the moment at the stocks moving higher on this. ford and general motors and stellantis are all moving to the upside here. tesla was already to the upside, and we're looking at some of the electric -- actually, stellantis is just flat. let's listen to the president and hear what his executive order will have. >> i -- before i begin, let me start with something, i apologize, more somber. i learned a couple hours ago when my staff came in that a close friend of mine, and i

think of many of you as well, richard trumka, died today from a heart attack. the reason i was a few minutes late are coming out, and aa apologize for that, i was talking to his wife and to his son who called. he wasn't just a great labor leader, he was a friend and a friend of yours too, debbie, i think, and he's someone i could confide in, and you knew whatever he said he'd do, he would do. it was simple, tommy. you knew him well as well. he was already there. he was an american worker. always fighting for working people, protecting their wages, their safety, their pensions and their ability to build a middle class life. i also believe that the meddle class built -- middle class built america, but i know who built the middle class, unions. unions built the mid eking class. and there's no doubt that richard drum can ca helps --

richard trumka belt those unions across the country. -- built those unions across the country. i might point out, you know, i used to always kid him, he was from soft coal country. i was from hard coal country. half will have we had -- [laughter] we had this thing about, you know, he used to be the president of the united mine workers and that's how he got started. folks, let me now turn to today's events. event. i want to thank bernie for the introduction and for being part of the best-led autoworkers in the world. thank you, ray curry, prime minister of uaw. -- president of uaw. good to see you, pal. [applause] and i also want to thank the leaders of the big three companies for being here today, mary barra, general motors -- [applause] want to tell you, i think she's one of the reasons we're here today. we had a long discussion on a zoom call with a bunch of labor leaders and other major business

leaders, and she made a commitment, and she's keeping it. thank you very much, madam chair. tim farley of ford -- [applause] and by the way, my dad was in the automobile business. he sold fords for a while but mostly general motors projects -- products. but you see that sucker over there? 0-60 in 4.1 seconds. it's all electric. i'll tell you what. and i want to say publicly, i have a commitment from mary when they make the first electric corvette, i get to drive it. right, mary? [laughter] you think i'm kidding, i'm not kidding. and my entire secret service detail went, oh, my god. and mark stewart of stellantis. you know, i -- mark, we used to have one of your big plants in my state, and as the man i'm about to recognize, you know, a

special thanks to all the members of congress who are here, but i want to pay particular recognition to my chairman, my buddy, we served together for years, tommy carper. tom, and i know that i kid my michigan friends, but, you know, i just want you to know, say to senates heinrich and markey and whitehouse, duckworth, and i'm leaving some folks out, i'm sure, representative kathy castor, you know, and the michigan delegation that's here today, debbie stabenow, senator gary peters, congresswoman debbie dingell who is automobiles -- [laughter] and dan kildee. but i want you all to know, i remind the michigan delegation of this. it used to be when i was, first got elected, i used to tell your husband in this as well, we hada

higher percentage of autoworkers in delaware than any state in the union including, including michigan. now, the fact that we had a very small population -- [laughter] and we had almost 100,000 autoworkers in our state had something to do with it. but i, i just want to be very straightforward, you know? uaw bring me to the dance, as they say. and i also know, and this is someone truly special, senator carl levin, who passed away last week. carl and i served together for 30 years in the united states senate together. he was one of the most -- i think all to my colleagues who knew him will attest to this, one of the most honorable people, most decent people i not only served with, but i've ever known. he was a tireless champion for the american worker, and the iconic american automobile industry. and so he embodied everything

that a his beloved michigan and our country represents. respect, dignity, pride, pride in the nation and pride in what we built. and so today labor and industry, state and local leaders are all working together to write the next chapter of the american story. as i've said before, we're in competition with china and many other nations for the 21st century. to win, we're going to have to make sure the future will be made in america. you know, back in may i toured the ford plant, as i mentioned, in a state of the art facility in dearborn where uw workers are building the first-ever all-electric f-150. and the best part is i got to drive it. it's incredible. just like the other vehicles that are behind me today. they're a vision of the future that is now beginning to happen. a future of the automobile industry that is electric. battery, electric, plug-in,

hybrid electric, fuel cell electric, it's electric. and there's no turning back. the question is whether we'll lead or fall behind in the race for the future. whether we'll build these vehicles and the batteries that got them to where they are in the united states, here in the united states. we're going to have to rely on other countries for those batteries. whether or not the jobs to build these vehicles and batteries are good paying union jobs, jobs with benefits, jobs that are going to sustain continued growth of the middle class. they have to be. right now china's leading the race. it's one of the largest and fastest growing electric vehicle markets in the world. and a key part of the electric vehicle, to state the obvious, is the battery. and right now 80% of the manufacturing capacity for these batteries is done in china. and here's the deal, it's not china's battery technology that's much more innovative than anyone else's. remember, our national labs in

america, our universities, our automakers led in the development of this technology. we led in the development of this technology. there's no reason why we can't reclaim that leadership and lead again. but we just have to move, and we have to move fast. you know, when barack and i were in office, president obama and i were in office, that's what we were doing. in 2009 the automobile industry was flat on its back. we were told that we'd never be able to sold american-made cars at the same rate as we did before. but we didn't listen to the naysayers. we even had some in both parties who didn't think we should, quote, bail out the industry, if you remember. well, we butt on the american worker -- we bet on the american worker, and we extended a lifeline, and they stepped up, made sacrifice ises to do it, and they saved more than -- we save ised more than a million jobs in the process. working with the auto industry, we set fuel efficiency standards and provided incentives for folks to buy fuel efficient vehicles.

with the recovery act we made the largest investment in clean energy and battery technology ever made. and then the previous administration came along, into office, and they rolled back the standards we set. despite bipartisan support for consumer incentives, they also let the federal tax credit expire, penalizing autoworkers who at the time were selling the most electric vehicles in the world, in the united states. they announced, they announced infrastructure week, they did it for every week for four years, and not once got anything done. not once. folks, the rest of the world's moving ahead. we just gotta step up. the government, labor and industry working together which you see here today. we have a playbook, and it's going to work. today i'm announcing steps we're taking to set a new pace for electric vehicles. first, i'm following through on a campaign commitment to reverse the previous administration's short sight ised rollback of --

shortsighted rollback of vehicle efficiency standards, and i'm doing so with the support of the auto industry, the automobile industry. today the environmental protection agency and the department of transportation are unveiling proposals to do just that. these agencies are beginning to work on the next round of standards for a broad class of vehicles, for cars, suvs, pickup trucks, medium and heavy duty vehicles. importantly, we have announcements today from automakers representing nearly the entire auto industry market who have is positioned around the ambition of 40-50% of all vehicles sold by 2030 in america being electric. this is a big deal. but to unlock the full potential, we have to keep investing in our workers and our manufacturing capacity. and that's what our build back better plan is all about. it's about leveraging once in a generation investments and a whole-of-government effort to lift up american autoworkers and

strengthen, and strengthen the american leadership in the world in a the clean car technology, trucks -- not just cars, but trucks as well and buses. now, that's why today i'm signing an executive order setting out a target of 50% of all passenger vehicles sold by to 2030 will be electric and set into motion an all-out effort. that's why i along with the members of congress here today, we're working around the clock on the build back better plan which does three critical things. one, it transforms our infrastructure. we're going to put americans to work modernizing our roads pro, our highways, our ports, our airports, rail and transit systems. you know, that included putting ibew members and ore union workers to work, installing a national network of 500,000 charging stations along our roads and highways and at our homes and apartments. two, we're going to boost our manufacturing capacity. the build back better plan

invests in new, rooted facilities -- excuse me, new and retooled facilities and employs workers with good paying wages, good jobs. it grants, the grants to kick start new batteries and parts production, loans and tax cents to boost manufacturing of these clean vehicles and our build back better plan makes the largest investment of research and development in generations. this'll help innovate, manufacture and build the supply chains for batteries, semiconductors and those small computer chips in electric trucks and cars are going to be even more reliant upon as we move forward. never again should we be in a situation we face today with a semiconductor shortage. and we know these kinds of investments, we know that they work. it was the defense department and nasa that got the modern semiconductor industry on its feet decades ago. our own department of energy pioneered and transformed the

battery industry where barack and i when we went, when we were in office. and with the help of the recovery act, grants and loans, battery prices dropped 85% because we were forward looking. we need that same mindset today. thirdly, support of consumers and fleets. that means purchasing incentives for consumers to buy clean vehicles. union made right here in america like the ones championed by debbie stabenow and ron wyden in the senate which provides $7,500 basic credit, $2,500 credit for vehicles made in america and an additional $2,500 credit for union-made vehicles. that means spurring demand by converting the federal government's enormous fleet of vehicles, over 600,000. we've got a lot of vehicles -- 60,000 of them, i should say. into an all-american-made, clean

vehicles. so that's what we're going to do as we wol proroll out and get rid of the existing fleet, we're going to support the electric transit system as well and the electric school bus system. look, and there's one other thing we have in our playbook that will help us outcompete other nations, the american worker. [applause] the american worker. i really believe this, and i know you guys do too. [applause] the american worker is our ace in the deck. now, i know many of you watching at home feel left out, left behind in an economy and an industry that's rapidly changing. i get it. i understand it. but we're going to leave no one behind. nearly 90% of the jobs created in our infrastructure plan do not require a bachelor's degree. and when we invest in our infrastructure, we're going to buy american products, american materials and service from

american businesses made in america by american workers. and we're going to do everything in our power to encourage and protect the right of workers to unionize and collectively bargain. the bottom line is we are proposing a blue collar blueprint to rebuild america. that's what it's going to be. and we need automakers and other companies to keep investing in america. we need them not to take the benefits of our public investments and expand electric vehicles and battery manufacturing production abroad. need you to deepen your partnership with uaw, continue to pay good wages, support local communities across the country. that's why i'm so proud the uaw is standing here today as well. it's why i'm proud that the three largest employers are sitting here, and their sight ises are set not only on electric vehicles, but on expansion, expanding union jobs, expanding the middle class are. it matters. you know, earlier this spring i kept my commitment to convene leaders of all the major

economies in the world not in person, but we did it on a zoom call with a whole bunch of folks including the heads of state of china, india, japan, the european union for a meeting hosted in the white house on the most consequential issues facing the world. and the agreement was it's the climate crisis. and i made clear, i made clear what i've long believed and i think -- when i think of the climate crisis is. beyond the devastation of the lives and livelihoods and the health of our very planet, when i hear climate, i think jobs. good paying union jobs. i want the world to see there was a consensus that all, that we're at an inflection point in world history. we have to save the planet. we can also come out of it better, create millions of good paying jobs that generate significant economic growth and opportunity. people not only here, but around

the world. but i also wanted to put the world on notice, america is back. america is back. [applause] in the competition for the 21st century, a future that will be built right here in america. let me close with this: our economy is e -- is recovering. in six months we've seen the fastest job growth on record at this point in any administration in history. the fastest economic growth in nearly 40 years. and we've shown each other and the world that there's no quit in america, none. none, none. and it's never, ever, ever been a good bet to bet against america. we are the united states of america. there's not a single, solitary thing, nothing, beyond our capacity to get done if we and when we do it together. we have to act. that's what we're doing today. and again, i want to thank the ceos of the automobile

companies, and i also want to thank all the autoworkers. thank you all for being here today. i'm going to sign the executive order, but i'd like to invite my congressional colleagues to come up if they're willing to stand behind me here when we do this and others who know they're supposed to come on up. thank you all very much. liz: president biden, flanked by the ford f-a 15 is 0 lightning, the they chevy volt, the electrc rubicon, you see the electric hummer ev, aiming for a nearly all-electric made in america future. the president saying there is no turning back if the u.s. is going to remain in the lead ahead of china when it comes to the next big thing in the auto world. electric charging stocks spiked dramatically. yes, you have link up by 3.6%, all kinds of charging names jumping up to 9% as the president stressed the government's support in creating a national, coast to coast

network of 500,000 charging stations and the car makers jumping as he underscored the need for government incentives for consumers who buy all-american-made evs. but by the same token, take a look at big oil from chevron to exxonmobil to bp. you do have them moving higher as the post-pandemic reopening is pumping up demand and, hence, gas lean prices -- gasoline prices at rest stops. to man at the center of both of these stories, travel america ceoing us in a fox business exclusive -- ceo joins us. you run a really large network of truck stops. >> hi, liz, thanks for having me. yeah, couldn't be more excited, actually. you know, we're in the middle, we're a 49-year-old great american company, and we're facing our 50th anniversary next year. we're in the middle of a major transformation that's starting to take hold. our net item was up -- income

was up 176% this year despite covid is. and early this year as part of that transformation, we announced the creation of eta which is actually focused on rolling out alternative and sustainable energy infrastructure from ev for passenger duty vehicles and over time. a little more slowly. it's going to take more time to figure out what sources of energy for the heavy duty stuff, but we're starting to create collaborative efforts with other companies to put in things like hydrogen. again, on a limited sort of test basis. renewable, natural gas, so we're right in the crosshairs and couldn't be more excited about the next 50 years and what that might mean as we start to look ahead. liz: obviously, charging stations are a key piece in this because, you know, if you build it, they might come in bigger numbers because right now only 2.2% of cars bought by american consumers right now on the road are electric. so i know you have a couple,

some in washington state, but, you know, what is your plan? general motors is partnering with ev go, and you start to see, obviously, tesla saying, you know what? we're going to create super charging stations that will actually be universal, not just for teslas. so tell me exactly what your part in this is going to be and that you imagine. >> so right now we're actually beginning, in fact, next week we're opening a number of other locations with ev. we will start to roll out in the most progressive jurisdictions that are the most supportive of this like california starting next week, actually, the first ones open. so the rollout will begin in those locations, those states that are most progressive. we're part nehring in some cases each on the -- partnering in some cases even on the heavy duty side with some groups, in fact, we were just awarded a grant to install need yum and heavy duty ev as well. so we'll start to roll out in the most progressive

jurisdictions and locations. on the passenger duty side. and i think over the next 18 months we'll have a pretty aggressive rollout plan to hit most parts of this country. you know, when folks come and recharge their car, they need to spend time, they'll spend 15, 20, 30 minutes versus a gasoline fill-up could be 5-7 minutes. that gives us an opportunity to really support those 20 or 30 minuters as they come to our large sites and consume convenience store stuff and food offerings. liz: exactly. which is what elon wants to do. i mean, he's trademarked tesla charging restaurant. so, yeah, you make it a thing because it is taking a little bit longer. you, let's just be clear, have no plans to get rid of gasoline, right? i mean, we've got trucks that are not at this point anywhere near going electric. 18-wheelers, i mean, if you look at volvo which, of course, is the parent of mack truck, i'm sure you get a lot of that business as well. so what's the future for gasoline? >> gasoline and diesel are going to be here for some time, and

gasoline volumes, i think, will start to get impacted on a local and regional level as we get to the 2030 time frame. diesel, on the other hand, is much farther out. it's, in my view, in the late 2030s, just barely starting to be affected into the mid and late 2040s. the infrastructure, the grid in this country can't support, you know, 40,000-pound trucks riding up the rockies on scale is. we're not quite there as a country. and some of these incentives will speed some of this up, but we're going to be selling gasoline and diesel and fossil fuels for a long time. at the same time, it's starting to roll into selling and offering nonfossil and sustainable forms of energy. liz: right now i just want to let you know, jonathan, that the president is about to, it appears, get inside that jeep wrangler, that rubicon, which is electric. and he is going to take it for a spin, perhaps, and see what it's like. i can tell you what i find

interesting about electric vehicles, and my viewers know that i finally got one. i have a tesla model y. the pickup is stunning. it is really fast. you know, there's a tiny learning curve. it's not a big deal, but, you know, what are we witnessing here? if you could tell us as the president takes off in a rubicon. >> you know, first of all, i drive a diesel jeep at home, and i'm driving an all-electric vehicle at my office. it's amazing, the performance these vehicles have. you know, frankly, electricity is still created most often by coal, so we have a long way to go in the background. but with that said, we are at the beginning stages of a paradigm shift that's going to take a couple of decades to really flush out, but it is an exciting time and for us uniquely, i couldn't be more excited. particularly as we enter our 50th an verse is the city next year to really be a part of this, this transformation, is pretty exciting for us. liz: travel centers of america ceo jonathan, thank you very

much for weighing in on this breaking story. stocks right now at session highs -- [laughter] that's exactly what we saw as the president began to make this announcement. because there are far-reaching implications, not the least of which is incentives for electric vehicles. we just talked to the author of the elon musk book "power play," well, now the official musk biography will be penned by renowned author walter isaacson known for his late bio of steve jobs. of course, our charlie gasparino, who i said confirmed, was all over this story two months ago. charlie, you broke it and what are you hearing now? >> well, had a brief conversation with mr. isaacson, the author. you know, this is a biography, but you've got to look at how walter isaacson does these things. the subject, jobs -- in the former case and musk in this case -- agrees to sit down and

talk to him. what mr. isaacson told me, there's no, there's no conditions here. he's going to ask him whatever, it's not, you know, this is not going to be a hate-ograp health care y, and i think that's key here. warts and all -- liz: what'd you call it? >> a hate-ography. when you write a saint is hood on somebody, did mys pronounce that -- mispronounce that, liz? liz: i don't know, spell it. [laughter] i don't know what you're saying. spell it. >> what i'm saying -- liz: hague yoking my? -- hagueography. >> i'm sorry. i went to pace, you went to berkeley. [laughter] in any vent, he's going to spend the next two and a half years doing this. and here's what i would say about this book and here's why it's interesting, in my view. the jobs book, as you recall, was done when steve jobs was

firmly established and the iphone was firmly established as some sort of a cultural icon. changing the way the world works. that is not the case with tesla and spacex. i mean, i'm not taking away anything from elon musk, brilliant guy. and, yes, the electric vehicles are probably here to stay although we don't know how much, how much they're here to stay. so that's going to be an interesting thing to see how -- if two and a half years from now tesla turns out not to be the next big thing, the vehicle equivalent of google or the iphone or apple. it'll be interesting to see how the book turnses out. my guess is he'll be a fascinating read either way. there are differents here, liz. two and a half -- differences here, liz. again, no conditions placed. you know, elon has a controversial record, you know, some of his court battles, some of the stuff he did when -- the

sec basically said he lied when he said he was going to sell the company a couple years ago, funding secured, remember all that? so it's going to be interesting. we shouldpoint out that jobs had a lot of controversy, had a kid with, you know, that he -- i guess you can say an estranged ca daughter. you know, musk doesn't have that level of personal stuff, but he does have, there are some interesting sort of, there's controversies around elon musk, and there'll be more controversy, i guess, over the next two and a half years. back to you with, liz. liz: you know, right now i think gm and ford are really annoyed that he -- [laughter] that president biden jumped in the, jumped in the jeep made by stellantis, but tesla not even there. maybe that's the union component. tesla is not unionized. >> elon is not, a political wildcard, you know?

he's hard to push out. he's not really a liberal, he's -- he's libertarian. liz: he's a visionary, who cares? get him? there. >> there is a political issue, i'm sure. anyway, it'll be interesting to see how walter does this book. liz: thank you, pace graduate. the perkily graduate -- berkeley graduate definitely supports you and hague yoking my. we learn something new every day. closing bell ringing in about five minutes. nasdaq and s&p both on pace for record closes. the nasdaq is virtually certain. we just need to be up 60 points, we're up 104 right now. s&p is needs 20.4 points, we're up 23. so, yeah, we're there right now. and in a true frankenstein moment, the trading platform that helped create the monster of meme stock mania -- and we say that with love, monster -- now itself kind of becoming a meme stock of stocks although the wall street bets crowd might disagree. robinhood officially topping the wall street bets mentioned list

for the second straight day, the same chapter responsible for gamestop and amc's meteoric rides, but robinhood at this hour losing 27% of the roller coaster that we saw. that's a sizable drop after a four-day rally that fueled its shares to double in value. as they stand at 50.98, $50.98, let us get to other volatile stocks this week. chinese video gaming stocks, they're down at this hour as china state immediate. >> throws it -- media throws its support behind higher taxes for the industry. this follows an all all-out regulatory blitz in the country, but our countdown closer says don't count these why, brendan? >> good afternoon, liz. i should start this saying go bears. liz: thank you. thank you. >> spent a number of years in the bay area myself.

on-line gaming companies, particularly tencent, one of the biggest players in online gaming globally. they will probably do about $90 billion worth of revenue this year. almost 22 billion of net income. they will be able to handle some of this online gaming issue from the regulatory perspective. they are a big player in the space and we're big believers in the company. liz: just tencent? tencent is a huge conglomerate. they are throwing cash at everything, not just videogaming. there is exposure elsewhere that might help deal with the attack against videogamers by beijing. online education stocks got killed when the country and the government said no more. we don't want you teaching on weekends. we don't want you teaching foreign textbooks. this is a problem for investors,

is it not? >> certainly the had hock nature, the lack of clarity on what is the gameplan, in terms of after-school tutoring, we might not like the rationale, liz, there is one. china's census came out a few months ago. the average woman in chin china 1.3 children per woman. that is the well below the replacement policy of 2.1. what the policymakers are doing, what are the costs associated with having kids that are keeping parents from having children? now china doesn't have a problem in the short run because it has a very big gen-z population but after-school tutoring is clearly one of the areas where upwards of 25% of urban family income was dedicated to of a school tutoring, pulling that into public school realm. hope they've life eight some of

that burden. liz: brandon, we're on the precipice, or at least the top of the s&p hitting a brand new record close. nasdaq up 110. that is a record. what is your macro picture? we have 30 seconds. >> 100% global equities benefit from the low interest rate environment. obviously u.s. equities have done exceedingly well. at the same time non-u.s. equities look very expensive, particularly emerging markets. within em we emphasize a lot of these growth names a lot of china names, very much discount to valuation and historically relative to u.s. equities. >> you're saying they are an opportunity for people to buy low? >> oh, 100% over the course of the last, yeah, over the last month,. liz: we've seen over a billion dollars flow into k web, our china internet etf that brings net inflow to 3 billion year-to-date. a lot of investors are seeing the strong fundamentals despite

the negative narrative on the regulations. they're looking to buy low. liz: brendan ahern, lovely to have you. please come back once again. [closing bell rings] we're closing at session highs. we're looking double record, s&p, nasdaq, both closing at all-time record highs. that will do it for us. "kudlow" is next. ♪. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. good to be with you today. so the biden administration rolling towards their goal of a green new deal. the infrastructure package has about 140 billion worth of subsidies and government investment funds, subsidies for electric cars, subsidies for electric charging stations, a transformation of our utility grid, handouts to certain companies, slush funds for the energy department. under the general grandiose goal of net z