that might knock down a whole series of dominoes you'll take a commanding decision on all of these questions. by the way you've been doing fantastic we miss you haven't talked to you in a while and we will talk to you again real soon we have a little bit of a bounce here, folks that's starting to fizzle a little bit so jay powell not able to move the needle it's a tough hour of trading but you'll be with the best, liz claman, over to you. liz: jay powell didn't even try, he kind of stayed away from everything in that little discussion, just about in the last hour. thank you, charles, after five straight record closes with the dow and the s&p, guys, the market appears to be suffer ing a little altitude sickness as we kickoff this final hour of trade, a triple wammy slamming stocks right now the chaos in afghanistan, the slipping retail sales numbers and cases of the delta variant filling up hospitals across the nation. all of it together, in the aggregate, yeah pushing investors to take some profit.

home depot the biggest dragon the dow and you can thank the mig a meths on july retail sales our power panel is here on whether investors are making a mega mistake by selling their stocks and if hot back-to-school sales next month will be the very thing that will make them regret the moves that you see today. look at the dow down 351. all right, an epic street fight playing out between the man who made hundreds of millions correctly predicting the sub- prime housing crisis and the woman making hundreds of millions banking on tech stocks of the future. the floor show, about to take sides between hedge fund star michael burry and investments guru cathie wood and the ceo of one of cathie wood's favorites unity software is here, if video game sales went through the roof during the pandemic, they are skyrocketing into orbit right now, how the platform for game developers, yeah, unity, plans to grow as people return to work and school, and some of it doesn't even have to do with video games.

let us get to this breaking news at the very top here we go it's 11:30 p.m. in afghanistan, and u.s. commanders have apparently regained control of at least the evacuations out of the international airport in kabul, where tens of thousands of people, including american citizens, have swarmed the terminals desperate to get out you've got c-17 cargo planes stuffed with passengers they are taking off under the watchful eye of military in america who remain in contact with taliban members who are still outside the airport. the state department says it expects to evacuate between five and 9,000 people per day, and the revels who over through the afghan government have been been warned that any u.s. officials that any hostile action will be met with a forceful military response. the pentagon, we are being told, says between five to 10,000 american citizens remain in the vicinity of kabul. we'll have more live from the white house in just a moment as the situation overseas unfolds but back here to the

markets breaking news. weapon now have about 58 minutes left to trade. rattled and recoiling investors dumping their stocks in the sell-off triggered less by that tense situation playing out in afghanistan and more by economic data that showed u.s. americans spent way less than expected during the month of july. the minute that july retail sales number came out showing spending plummeted 1.1% versus the expected drop of just three- tenths of a percent, stock s went south. the dow at its lows was down 505 right now we're down 333. bookending the dow's losses you've got walmart and home depot. both released earnings today but let's start with home depot, the retailer is falling about 4.25% the big laggard on the dow after reporting its first quarterly same-store sales miss in two years. walmart not only beat on same-store sales, but two-plus percentage points beat. that's pretty good and also increased its annual forecast the stock is marginally in the

green. are investors making a big error by selling all stocks simply on what could be an outlier of a data number? we've got two global experts to weigh in, rock star retail analyst, tetha herzog, and charlieo'shea, are joining us now. charlie, i just want to take walmart for a moment. the company says wait a minute. we're seeing some serious back-to-school buying in the current quarter and then as for home depot, if last year was any indicator, covid fears are going to keep the diy'ers busy renovating their homes so the sell-off you see is this misguided? >> it's really hard in this environment, liz. we're in the most unchartered waters i've been in in 35 years in this industry, and i just don't know how you can look at month over month comparisons, quarter-over-quarter comparison, especially with the volatility we're seeing with covid. we saw what happened with walmart's numbers and for the second quarter, we saw

the online sales number that was put out this morning down roughly 3%, for the month of july. i don't know that that surprises anybody, amazon moved its prime day to june this year, so it was picked up in the second quarter of amazon second quarter and there's all sorts of follow on effects when amazon has prime day, so there's all sorts of just things that are happening, that raise the level of uncertainty to acute levels and i just really think that we need to be patient here, with these retailers, and you can't hit them for a quarter-over-quarter, you can't hit them for month over month, you just have to be patient watching them go through what in this case is a very strange cycle. liz: yeah, the markets are myopic, hetha, at least at this point, because you do sort of on the ground, boots on the ground research, where you walk into these stores, and get a real sense of what's going on. we've got a back-to-school season that we are told that is going to be killer, in fact it is a lot of kids are getting ready because here we are in mid

to late august. what are you seeing and what are you hearing? >> we saw kids go back-to-school at the beginning of august so back-to-school has already started, in certain places of the united states but you're absolutely right, liz. you are seeing this surge of parents, grandparents, adults who caregive for these children go out and purchase at record levels and yes these july number s don't necessarily see that, but what we are seeing is this front stacking of shopping. we also have the second supply chain shock that is happening as well, so because of that, because there is a lack of product out there and it's only going to get worse going into the holiday season, and we're seeing retailers scramble, we're seeing everyone start to purchase everything. we saw a lot of that purchasing in june, particularly from the baby boomers, oracle came out with a study that said baby boomers were buying online 5.7 times more year-over-year versus the millennials so i know these commerce department numbers

don't say that, they say online shopping is down 3.1% but if i have to say anything, liz, i think people should be bullish on the fact that people want to be out. home depot despite the fact they reported out these numbers, they sold out of all the halloween decorations. they had an early shipment of that, they sold out of all that. liz: [laughter] please, stop. i can't get ready for halloween right now. charlie i want to get nerdy. capacity utility station numbers came out. capacity utilization for those that don't know is the pace at which factory floors are humming not only it was a beat at 76.1, charlie, but it was the best number since pre- covid february of two years ago, 76.6 rather i'm sorry. talk to me about, you know, the inventory situation. if these factory floors are really cooking, you've got to figure there's big box retailers that are going to do very well.

i know you cover all of them whether it is target or walmart , or even some of the auto parts names let's just not stick with apparel and groceries here. what do you like? >> well, from a fundamental perspective, i look at where our ratings are and the top of the ratings scale are the best performing retailers and i think there's no accident there but one of the things that happened during covid was the strong got stronger, walmart, amazon, costco, target, bj's which had been private for a long time and kind of laying in the weeds has been a stellar performer and i think what you saw was the investments in supply chain, the investments in the store experience, investments in technology, the online business, that sort of thing, and the big retailers have tremendous sway over their vendors. let's be realistic. if you're a vendor and you have a choice between shipping to walmart or shipping to xyz retailer, you're probably going to take care of walmart, so i think what we're seeing is the holiday looks like it's

setting up really well. back-to-school and back to college which is something i focused on for years because i had kids in college, is booming right now, and we didn't have that last year, so comps to last year are going to be a little swirly, but i think you're exactly right. the big retailers are loading up for the holiday and they are going to be really ready for this , i think the consumers going to be ready as well. liz: and hitha, i was noticing this and let's not count out the brick-and-mortar. we were starting to look this morning in our morning meeting with team count down about some of the etfs out there. if you look at the etf's that are long and i'm talking really long, like 3x long, there's a one that looks like, well this is actually the opposite side, so mt is one that basically shows the decline of retail stores. its done horribly down 43% and then you've got clix, which is pro shares long online short

store, that's down 20% over the past year. look at the other ones, retail which is really long, the actual stores, along with the 3x, the bull and, you know all of these names that look actually really strong. don't count out brick-and-mortar , right? people want to go out and be there. >> absolutely and it goes back to what i said before, people just want to be out. yes, there is a rise of the delta variant, but people want to see other people, whether back in the 80s shopping at malls was was an indoor sport i think we're going back to that a little more. we still have the stores that have beefed up on their online spend and making sure that that technology is there, and specifically, on logistics so they want to make sure that that consumer is okay with if they want something in two hours or 24 hours or less, they can be able to provide that, but yes, do not discount these brick-and-mortar stores, people

going out there and shopping, in fact i was just at a mall in new jersey a couple days ago. you should have seen the parking lot, liz. cars everywhere, there was people just walking around, people just want to be out. liz: can i guess, was that param us? [laughter] it's the big one. great to see you both. hitha herzog weighing in and i want to make a point about the nasdaq, while down 143, low of the session had been down 242 , so we've pretty much chopped those losses in half. need to get to this breaking news folks, the u.s. state department is holding a briefing right now, notifying americans still on the ground in kabul, to go to the airport, saying they are working hard to get everybody out as quickly as possible. they have called this a massive logistical undertaking, the taliban putting a face on its incredibly swift takeover of afghanistan. taliban spokesman holding his first press conference just about two hours ago, and in it,

he said a new government will be formalized as soon as possible. he claimed his organization seek s peace with the global community, offered amnesty to former members of the afghan military, and said the group known for beheading women and who just worked and went to school, will respect the rights of women, within islamic law. he added that the group wants to develop its economy and pledge that afghanistan will be free of narcotics and asked for international help for farmers to convert opium pop py fields to alternative cash crops. can the taliban be trusted? let's get to the white house and connell mcshane is standing by live. one of their main sources of income has always been illegal heroin trade by poppy fields. who can trust these guys? reporter: there might be reason this afternoon to doubt the trustworthiness of the taliban based solely on a new video fox obtained from an afghan source i'll put it up on the screen you can judge for yourself. this shows people in the streets

of kabul being beaten, some people hit in the head, a very violent scene, other people being whipped as they walk by and again the afghan source who gave this video to fox says this was right in the streets of kabul afghanistan, among people who were trying, trying as they might, to make their way to the airport. some of them looking to get out of the country and moments ago the white house press secretary jen psaki, in the briefing room on what happens, indeed if the taliban doesn't keep its word. >> the consequences are the full weight and force of the united states military, and i think we've made that clear, but right now, and we're not trusting, we're not taking their word for it, we are watching closely, we are in close contact , and we're certainly assessing whether they are going to abide by their commitments and by their actions. reporter: today in kabul as the taliban consolidates control in that city the airport has reopened the national security advisor jake sullivan saying the goal is to get about 300 people on each cargo plane that gets out of kabul and to get in total about five to 9,000

people evacuated from that city each and every day. as for the president's decision though to get out, and to get out of the way that he did, sullivan was pressed on that today in the briefing and turned to the human toll, responds like this. these are hard choices too, and at the end of the day, the president had to make a hard choice about whether to avoid some of those human costs, the united states continues to send thousands of troops to fight, and some of them die and take casualties. that is the decision that he was not prepared to take. reporter: as for the rest of the week we might hear from president biden at some point we're not sure he's not here right now. the president went back to camp david yesterday and his plans for the next few days with this fluid situation in afghanistan continuing to unfold , are not yet confirmed. liz? liz: connell thank you very much we were 45 minutes before the closing bell rings, cabbies think vision blizzard giving call of duty fans a sneak peak at the latest installment of the wildly-popular war game call of duty vanguard.

the official launch of the world war ii focused iteration, is this thursday at what will be a special in-game event, within call of duty war zone, the franchise's battle royale offering, even with all that excitement for activision belied and troubles continue the stock has lost 12% quarter to date it's down about two-thirds of a percent right now. for game create or platform stocks, it is a different story. the fierce fight for video game supremacy and the post-pandemic era is still sizzling hot. unity software is the 800-pound gorilla and ceo john rickatello joins us next on what he's doing beyond games to deliver a win for investors. it's a fox business exclusive dow jones industrial losing 336 at the moment, the s&p down 39 we are coming right back.

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relax people, my wireless is crushing it. that's because you all have xfinity mobile with your internet. it's wireless so good, it keeps one upping itself. liz: hold on i'm just looking at video game creator, it is down 1.5% but well off the lows of the session. the stock had gone as low as $74

this morning it's at 78.42 right now after posting lower than expected bookings along with a miss on both earnings per share and revenue, but just because it is down doesn't mean the video game industry is down for the count not at all. the gaming industry has been one of the most resilient sectors during the pandemic, npd reports this past july, total u.s. sales came in at a record $4.6 billion , that's up 10% year-over-year, and year-to-date , they are up 14%, compared to the same seven-month period a year ago and much of the rocket fuel is coming from game engine development platform unity. after posting a beat on earnings last week and completing its newest acquisition of remote access tech company parsec, unity posted a 76-plus percent gain since going public last september. so with that let's bring in unity ceo john riccitiello in a fox business exclusive and john,

these numbers and we should say they include hardware and software and accessories are crazy strong, but what part often gaugement and growth has surprised you, the most? >> well look. if you go back some years, people thought of gaming as smaller than television or film or music, it's bigger than all of them now, not altogether but all of them individually and it continues to grow. we have an industry that now nearly 4 billion people participate in every single month, and more people play games than watch television on a global basis, so nothing about this is really all that surpris ing. i expect many years of growth. it's the number one form of entertainment for people under 30. nothing looks like it's going to stop that. liz: under 30, you and me, for sure. >> [laughter] yeah. liz: 71% of as i understand the top 1,000 mobile games are made with unity, so you have major peter strzok on that level

i want to get into this meta verse discussion because that's very much the chatter for those that don't know and i need to get on to this but my 17-year-old tells me you can have 3d engagements with people within video games. where do you see that going and how much of your revenue do you see increasing on that level? >> well it takes a moment to pause and understand what we're talking about, so a couple of authors have talked about the metaverse and what it's really talking about is a pretty sharp evolution of the internet, so most on the internet is static, you're not interactive and let me give you a couple of crisp examples, instead of us, perhaps, engaging as we are now, there's a full sort of hologram of you sitting next to me you feel like you're next to me that that sense of presence, and video gamers already have that inside the games they play and it's even moreso when these are vr device to get there.

imagine you're shopping and instead of looking at some other model, walking by and you might want to buy, it's you, in that draft, the cad model shows exactly how it drapes on you and your family or friends can be on that same and look at it saying that's what i should wear friday night we're together in that so really what i think the metaverse is about is these millions of websites we have today, becoming a lot more 3d, a lot more realtime and it happens in that moment and a lot more interactive. you can be there with other people and the folks at facebook talk about presence, but a fundamental misunderstanding though, with the metaverse, is people talk about it particular video game, winning the metaverse. that suggested that we're all going to start playing the same game collectively, you, me and everyone we've met. i think what we're talking about literally is virtually everything on the internet becoming more 3d, more interactive, more realtime, more

spatial so the sense is you're some place that you're not but it's just as real as you're some place that you are, and so that sounds like a lot of words and a lot of imagination but it's happening as we speak. liz: yeah, help me, you're my only hope, right? wasn't that sort of the original hologram kind of thing but what are the applications beyond this , john? you have been, obviously, the guy who ran electronic arts back in the day and you know that there are sort of more demands by investors to scale up into different areas. you guys are actually going into architecture and enabling people to put together all kinds of plans and maps and i would imagine eventually in the metaverse designing buildings and architecture? >> exactly that, but let me help you with this notion of the metaverse, and as it relates to construction and architecture so today, if you're a construction manager in the 37th floor of some skyscraper you're

putting something up there's an issue in the wall and you've got perhaps a model and bim data , building data and you're trying to figure out what the problem is. if you use unity reflect, we bring that space, that construction site, into the metaverse, and how does that work? the construction guy or gal can holdup their phone, its got all sorts of capabilities in it, point it at the wall. the guy or gal at the head office, construction or architecture, can see it, but what they see on that wall, as it's built and what it wants to be next, and what the issues are, so they are existing in that same space, in the moment, together with data, superimposed on the wall like where the conduit would want to be or the switch wants to be, or the pipe that has the move, so they see the same thing together as opposed to somebody with a big piece of paper on a piece of plywood circling something get my messenger to another location in the moment, 3d.

realtime. liz: i can see the property brothers are going to be on the phone with you very very soon but again it's fascinating to watch. this company spread out and have other tentacles, john, thank you very much. john riccitiello of unity software down 361 we're coming right back. ♪♪ ♪♪ that building you're trying to buy, ♪♪ you should ten-x it. ten-x is the world's largest online commercial real estate exchange. and it's fast. if i could, i'd ten-x everything. like our lunch. (laughs) amazing! see it. want it. ten-x it.

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liz: fox business alert, securities and exchange commission commission chair gary gensler putting out a video that warns investors not to travel into china stocks. the message from the markets top cop coming along with the demand for more disclosures from chinese companies which lists shares on u.s. exchanges. the sec chair also ordering a pause on approvals for new ipo's coming out of china and these names are getting hit pretty hard, allie alibaba down 4.7%,

tencent holdings down to 55.26 and not stopping there, j pink's regime today continuing to tighten the screws on its publicly traded tech titans with a new round of anti-monopoly measures so as you saw baba is taking a hard hit with these trans-pacific regulatory assaults, but take a lack at shares of tencent music that's the arm that involves music publishing just cratering into the close. china's recent crackdowns are showing no signs of stopping and a miss on revenue creating worries over the music streamers future shares hitting a new all-time low, $7.77 down about 13%, but one china stock fighting the red tide into the close, and that is didi, the ride hailer driving its way out of the red and into positive territory up 4 1/3% as a number of power playing hedge funds thumb a ride into shares so you see that nice move and then uber

agent endeavor also punching his way to a decisive win the entertainment giant and ufc parent, ultimate fighting club lifting revenue guidance on the return of live events and overall growing demand for content. shares of endeavor jumping 8% to $24.98. and i guess the ufc fighters since it's so popular probably in need of pain management after all of these fights. one non-opoid pain relief drugmaker is making a major, look at this on the screen, as ever den or s into a whole new race, the fda clearing verpa x to pursue a new drug application for its virus fighting nasal spray, the space which has shown promise in animal studies working by creating a barrier against virus es, including coronavirus and the flu, shares up 207% right now. reports are flourishing that any day now the biden administration

is planning to recommend booster shots of pfizer and moderna's covid-19 vaccines to most americans, eight months after they got their second dose. the reason for the boosters is that the delta variant, of course, which threatens to derail the u.s. economic recovery, is very much on the doorstep. we already saw that in the weak july retail sales report and now companies are stockpiling cash at levels never seen before the pandemic, in anticipation of that downturn. lauren simonetti is there with a fox business newsroom and she's putting together some pretty stunning numbers. lauren? lauren: they are stunning and the question is why. so liz, if you look at corporate america, stockpiling cash, it's $6.8 trillion, as of the second quarter. those are for companies rated by s&p global an all-time high but the question is does it continue to grow? i'm going with and many people i speak to say likely not. here is why. names more exposed to covid restrictions, yeah, they continue to stockpile cash,

united airlines, i think a $23 billion rainy day fund, carnival cruise lines $9 billion , but then you look at the companies more exposed to the covid supply chain glitches. they are increasing their credit lines, liz. think names in healthcare, food and industrial sectors. in other words, they are am aing up for when the bottlenecks ease and they can build-out again to meet demand. these are all signs that corporate america is very likely on the verge of a spending spree even as the delta variant pushes economies worldwide to start tapping the brakes. now goldman sachs sees capex spending unleashing in the remote work arena, that means more spending on i.t. and hardware, as well as clean energy, goldman predicting that spending will rise 7% in the second half of this year, and globally, i do have that s&p global report, they say capex expenditures will rise 13% this year worldwide, in almost all industries but led by semiconductors, retail, software

, as well as transportation, so likely, the cash will come down, liz, as m & a, buyback, dividend s, all start to go up in addition to plain old generic capex spending, liz. liz: imagine that. a lot of debt though let's keep that in mind. lauren, thank you. the guy who made a boatload betting on the housing collapse now betting against the biggest fund guru in the business. she, in the last couple of hours , has hit back. the street fight that's unfold ing between michael burry and etf guru and tech extraordinaire expert, cathie wood. closing bell we've got it ring ing in 25 minute, still a lot of red on the screen but well off the worst points of the session here, we're coming right back.

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liz: we are just getting this breaking news in. reuters reports the u.s. is expected to extend the transportation mask mandate through january 18. the report says the biden administration plans to extend requirements for travelers to wear masks on airplane, trains, and buses, and at airports and train stations to address covid-19 risks, specifically, the delta variant, which is incredibly extended at this moment here. you can see airlines are pulling down by anywhere from two to three-plus percent at the moment the current tsa transportation mask order runs through september 13. ark investment funds star manager cathie wood clapping back at famed investor michael b urry on twitter, the tip sparked by the required quarterly 13-f filing showed bur ry which dramatized how he made hundreds of millions of dollars by betting against the real estate bubble which

would burst in 2008 now made a $31 million bet against wood's ark innovation etf. the latest 13-f filing also shows he put a short posit posit $7il31li mon.h wth te arsa o ofne t ohef thehe p htoolpditopn vain ftod,un, here h ierse ie it h c c melic bhaurichary g areatat catall c ba onnmenntalmerecogn italy brity ui in then t housho mornd mend me m met tbuto not not belveelieve he sdes tde f themeunhealme crcrngsilo growt invemetuppnituesni inni s eovationtion s." rieses along with phil flynnynne of the cme and price futures group. scott, you got to understand too , that everybody, who makes who involves more than 100 million, has to file these

13-f paperwork by the sec, so buffets done it too, but whose right on this one and it's hard to say but it looks like burry is betting there will be some type of tech implosion. >> well, i think that he's betting on a short-term to intermediate term phenomenon with the market and not been performing very well when you look at the internals over the past weeks into almost two months, and the fact is is that a lot of things have been pulled down, including the ark fund but i think long term, you do well, i think innovations are going to come back and people will be putting money back into them and we'll see those stocks go back up. again, we have a long term investment versus a short-term trade. liz: phil, he absolutely hates tesla. so now, he's kind of doubling down on the short bet or at least certainly piling on, on the negativity and the bearish

bets on tesla which by the way is down about 3.5% but do you get the sense that maybe like a broken clock is right twice a day kind of thing. he's at some point going to see a correction in tech stocks and be vindicated or is she the one who is really going to win out here? >> first of all for cathie wood she's developing a fund to go short and i think she wins either way once that gets approved but let's face it, liz. you know as well as i do, the streets are littered with broken down tesla short sellers, and if michael burry, you look at his history, the housing prices it looks like he hates tesla so much he's looking at every possible way to get short. now is it just about tesla? or is it an anti-bet against electric cars in general? we really don't know, but he is all-in on this way, and just like he did in the big short, he's finding every way he can to

get exposure to the downside of these stocks and if not, he'll just join a long list of people that have bet against elon musk. liz: exactly. yeah, scott the world is littered with people who tried to short tesla, and he said there be a tsunami of pain. that's what he told fox businessman it years ago and we went over there to sit with him at his factory, tesla, but in the end is there a better pick that you see , scott? >> well i think when you look at overall what's going on, i think that you have plenty of other companies out there, in the ev space, that you may want to get involved with. everything from the companies that are putting up the actual charging stations to the manufactures, to the battery manufactures. but again, as far as the ark fund goes it's not just about tesla, but yes, i could see that he's playing this partly because of its investment in tesla, and

another way to get short sale. liz: scott, phil, we'll watch this one play out. but again, burry is no dummy that's for sure. good to see you both we are coming right back. we're about 15 minutes away from the closing bell. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. experience our advance standards safety technology on a full line of vehicles. at the lexus golden opportunity sales event. get 1.9% apr financing on the 2021 rx 350. experience amazing at your lexus dealer. - i'm norm. - i'm szasz. [norm] and we live in columbia, missouri. we do consulting, but we also write. [szasz] we take care of ourselves constantly; it's important. we walk three to five times a week,

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liz: well that was fun while it lasted. after that wild rally on sunday, cryptos are losing more steam. we've got bitcoin down about 2%, now at 45, 401, remember it was above 48,000 on sunday, but if the crypto verse is betting and possibly correctly that sec chair gary gensler's recent social media tax on the fast growing sector could be more bark than bite why isn't crypto

jumping? well it might soon do that again , because according to charlie gasparino, who joins us now, there's a real motivation behind gary gensler's social media blitz here, what's going on? >> well, i mean, i don't think you've noticed this liz, you're so attached to tiktok, you know, what's the guy's name? young pasta. liz: vinnie. charlie: [laughter] you haven't paid attention. liz: young pasta. charlie: okay you haven't paid attention to the newest social media star, none other than, drum roll, gary gensler. gary gensler, the sec chair, has a youtube page, liz, where he talks about various issues, like chinese ipo's, esg investing really in fun stuff, you know, he's got nothing on vince let me tell you and of course cryptocurrency, we had to worry about the scams and frauds he talked about in that aspen

institute speech. it's really interesting that he's taken to youtube. i've been asking securities lawyers who follow the sec, used to work at the sec, when is the last time you saw this happen with the chair? now youtube has been around for a while it's not exactly like a new invention and they can't remember anybody doing anything in recent history, so you know, maybe gary thinks this is a way to get the message out, because he doesn't have a lot of regulatory authority in this area, at least that's been the consensus and liz, yes, today crypto is off a bit, but over the past month, its been up 40%. it's obviously well-above its lows. the lows hit on august 3, the recent lows, crypto and bitcoin sank to about 38,000, and then that was exactly when gary gensler gave the speech about at the aspen institute how he's going to crackdown and stuff and then something weird happened and it started to rise

and one of the reasons i think it rose is that we and mainly us were reporting that he doesn't have the regulatory authority to do a broad based crackdown. its got to be very limited certain aspects of the crypto market that are deemed securities and bitcoin and the currencies themselves, the cryptos themselves, aren't securities, they don't fall in that definition, there's not an investment that they represent, and they are just means of transacting stuff, like a dollar, which gary gensler doesn't have regulatory authority over dollar bills, so that's where we are right now and that's why the stocks are up , but he is taken to youtube to get his message out. liz: he's a youtube star. charlie: the younger generation i'm wondering if he goes after the apes on youtube. liz: well that's what he's doing yeah, he's trying to protect investors from themselves, and at some point, yeah, i think he's trying to reach the average

investor, good on him. charlie: liz, this is now my opinion, not my reporting, but he should probably address the meme stocks thing on youtube on his youtube videos, because i keep hearing that there's going to be the mother of all short squeezes from these amc apes people and it never comes. the stock is hovering around 35- 36 and we're not getting that and if you think there's a short squeeze, you might be -- liz: we're about to get short squeezed by the commercial break [laughter] charlie we'll be right back. dow is down 315. they said it couldn't be done but you managed to pack a record 1.1 trillion transistors into this chip whoo! yeah!

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of the world as we know it. today's "countdown" closer inflation fears are reaching same level of hysteria. those shouting the loudest could be on wrong side of wall street. okay, dave, what is the right side of the street? >> liz, thanks for having me on. i don't know that it is the wrong side of the street. in the last year cpi is up 5.4%, and ppi is up more than that but right now the only people making any noise are the inflation crowd and there could be disinflation. there are people that are actually saying hey, we have the mobilization of labor which isn't going away. you just have the ceo of unity software on talking about productivity software, can enhance productivity so much. people are getting older everywhere. we've had this huge money printing experiment going on in japan for like 20 years, and it hasn't created inflation there. could. prices have jumped but in the

last year everything has gotten screwed up because of covid. the old commodity saying cure for higher prices are higher prices. seems like there are more commodities under the ground like we ever imagined. look at oil, we thought it was all gone 40 years ago and we more than we needed so. liz: you're saying it is overstated, therefore people should calm down and start looking for great names, among them you like stryker. i covered stryker for a long time. they're the famed hospital bed maker, safety and security. talk to me about why stryker is on the top of your list here? >> we sort through the dividend achievers, companies that raised their dividend every year for 10 years. stryker is one of those. we added it to our portfolio back in may. but they do a lot of orthopedic implant work. knees, hips and besides hospital equipment and covid really slowed that down a year ago and now with the delta variant

jumping up a lot of hospitals have stopped their elect tiff surgeries which if you need a knead i don't know if that is elective. they have demographics on their side. it's a pretty big moat to get in the business. not everybody is clamoring to get in. they have this new robotic offering they call it mako, which is doing a lot of taking market share in the robotic surgery. they raised their dividend every year for 10 years. the stock had been kind of a trading range from 250 to 270, oh, since april, maybe, the average target is about 290. i just think the wind is behind them an if there is is inflation, stocks are one of the best ways to beat inflation and i think this is one of them. liz: yep. in particular certainly, no matter the vicissitudes in the market. at least if you're getting a dividend you are paid to wait

that out. dave, great to have you on. thank you very much. with innovative portfolios. 1 1/2 billion in assets under management. yeah, the dow, s&p, five-day record run is over but so be it. [closing bell rings] it is a tiny percentage of a drop here. under 1% for the dow. about 3/4 of a percent for the s&p. that will do it for the claman "countdown." kudlow is next. ♪. david: hello, everyone, i'm david asman in for larry kudlow today. air operations resuming at kabul airport as thousands attempt to flee taliban control in afghanistan. more than 600 people were seen in this photo cramming into an american plane. the plane is h