result? >> um, i am. i think that the market is trying to digest the impact of the delta variant, and how that might impact not just the u.s. economy, but the global economy, going forward and so in the fed minutes so there's a lot going on here you got good earnings but you got the fed and the delta variant and the markets trying to kind of dissolve it all. charles: it's doing it. we got to leave it there, shana. i got to hand it over to my colleague, liz claman. liz, i tell you what this is a pretty impressive session. liz: yeah, impressive particularly because what trader s have endured right? we've kind of got this split decision on wall street at this hour. investors have struggled to make sense of everything, feds taper plans, good jobs numbers, solid earnings, and oil market sell-off, chaos in afghanistan, and surging delta variant number s. it has been a volatile session, but the dow has swung nearly 300

points from peak-to-trough and right now, trying to get back to a little bit of a peak, down about 67 points and it happens as amazon, the biggest online retailer in the world, is reportedly ready to swallow the department store world with its own chain of department stores. we've got kohl's ceo michelle ga ss here, theys a real visionary in this space, we'll ask her how she sees amazon's anchor store ambitions and wait until you see what her stock is doing in just the last couple of hours. speaking of hours, we're just hours away from the much-hyped tesla ai day, what kind of predictions could ceo elon musk utter tonight about the future of autonomous cars just as there are a whole bunch of investigations into crashes with teslas. the world's youngest self-made billionaire austin russel who made those billions by doing exactly that, working on autonomous vehicle technology, he's the luminar ceo and founder to beat musk to the

punch and reveal where he thinks the road to self-driving cars might just lead. but we've got to just quickly dip in and get this breaking news we're keeping a very close eye on shares of robinhood even after posting a 131% spike in second quarter revenue year-over-year, and quite frankly, an impressive $233 million in fees from crypto trading, the free brokerage app is heading back down to session lows here, down about 10.9% to $ 44.36 of course it did post a $502 million profit loss which the company blamed on the emergency funding it had needed to raise in order to cope with a tsunami of trades in meme stocks that swamped the app back in the early part of the year. so anyway, charlie gasparino is working the phones on robinhood 's next steps and challenges. we're watching the stock now down an 11 full percentage point loss here but he's going to join us in just a moment. let's show you dogecoin, one interesting revelation out of

the robinhood earnings call, ceo vlad said trading in the meme coin accounted for two-thirds of his crypto trading volume, dogecoin moving higher by 1%. let us get to the markets. overall here, whip saw this entire session by multiple headlines, some overlapping each other, that have investor os making their way through a land of confusion let's check it here , dow down 48, low of the session a loss of 270, s&p now back up 9 points had been down 32, nasdaq up 42 here. so what is this land of confusion? well we've got earnings, afghanistan, covid, and right now, it is oil and energy that's keeping the bulls at bay as we kickoff this final hour of trade can we check on west texas international here? we do have it closed down for sixth straight session in the after market we have it down 2% and while that is still down, it's slightly off the lows where we close. now, the nagging worry is that the delta variant will crimp the

economy and hence crude oil demand and that is hitting the refiners and drillers. look at apache, marathon, occi dental, baker hugh s, devon energy are sitting very near the bottom of the s&p 500 down anywhere from 4% or in the case, down 6.25% in the case of occidental. so the nasdaq backup above the flat line thank nvidia to netflix, cisco systems for really what is boo'ing the nasdaq up above water, a nice move, and you do have nvidia up had .8% in the wake of decent earnings but nobody knows whether to invite the federal reserve in for a beer, or slam the door in its face after yesterday's minutes from the july meeting showed central bank members are warming up to tapering by the end of this year, and that means, of course, reducing all the stimulus put in during the worst levels of the pandemic , so to our floor show traders who will lead

investors hopefully out of this land of confusion, teddy weisberg, sarge guilfoyle. we didn't even mention the kind of verbal bombs that beijing keeps logging at chinese tech stocks which are getting killed again at this hour. how do investors navigate through this? >> there's so much on our plate , we have relentless virus, vaccines that wear off and a bond market and commoditieses market signaling slower economic growth and transitory inflation mind you, china which is hostile not just regionally but domestic ally, and we have fiscal monetary policy that really want to move in opposite directions. the fiscal authorities want to expand policy while the monetary authorities want to pullback on policy. i think you've got to buy defense stocks, lockheed, general dynamic, they'vevery all been bashed a little bit and what just happened in afghanistan we're going to have to look strong going for forward so taiwan doesn't have a problem so i have to buy those

stocks you don't have to do anything. you have to belong to the elite semiconductors, nvidia, advanced micro devices, marvel those are the three elite semiconductors you've got to be on cybersecurity because that's part of warfare,z-scaler, palo alto, crowd strike and the low end retailers because if the economy slows walmart, target and dollar general are the places to shop. liz: yeah, you know, i know it was fun to be in names like neo and i'm looking at alibaba here, neo is getting hammered we've got alibaba down 6 and 1/3%, let me look at didi, today it is down 8% so these pure play china names that a lot of people have gotten out of, teddy, i mean, it's worrisome for many who decide, look, i want to take a chance of these and yet, any money that they had made in the past six months looks to be at least in the case of let's say tencent looks to be gone at the moment down another 5.6% so where do you go from

here? >> well, liz, you know, if we a scribe to the saying that markets like to climb walls of worry, clearly we got plenty to worry about as sarge just pointed out but it also sounds like he wants to be on a lot of stocks. quite frankly when it gets like this it gets tricky and markets and individual stocks are pretty much priced to perfection, second quarter earnings are now behind us that was great but now what do we look at? there's a lot of concern out there, and so when folks don't know what to do, perhaps sometimes the best thing to do is just to move to the sidelines and cash becomes king. yes, it's a market, it's not a stock market, so there are always a couple things to do. we've been long forever, it seem s like big pharma, which has come to life last couple of weeks, pfizer in particular. pfizer, liz, is trading at a price level now it hadn't seen in 22 years. i mean, this is a group, i think

that perhaps is now going to act better going forward and we acted like animal healthcare and a little company called alanco, but on balance, when you don't know what to do, basically the smartest thing to do quite frankly is to do nothing and if you can, just simply move to the sidelines until the dust settles and you get the wind of a stronger market at your back, and not a weak market in your face. liz: sarge, i'm just looking at the pe ratio what teddy was referencing regarding pfizer, for example. finally, an 11 pe ratio. lately we have seen stock, i'm talking since late last year, or six months into this year, that were incredibly expensive and maybe we can show some of these names, and again, now countdown closer has two of them. you have to stay until the end of the show because we have very

digestible pe ranges you don't want to overpay for these names right? >> oh, no and then pfizer is actually one of my big longs too healthcare is one of my concentrations right now. can tell you talked about raising cash. i've actually been raising cash since the beginning of august from about twice as high in cash as i was at that time. i mentioned my buys i didn't mention micelles and i won't bore the heck out of you but i've been selling financials, industrials, and materials, which actually hurt me a little bit, but i've been moving those stocks into cash and rotating into the defense names and so on that i was rattling off before. liz: well you wouldn't bore me, because i would sit around and choose you over the third season of cobra kai. no, i would not go that far. >> actually cobra kai is pretty good. liz: it's amazing we love cobra kai. so sarge, teddy, great to have you thank you very much and as we look at the markets dow now down just 37 and what did i

say whip saw fox business alert at this moment yesterday, we had no idea how bath & body works shares would smell ahead of the company's first solo outing for earnings but bring on the mango vanilla, my personal favorite, the body care and home fragrance giant cleaning up in the second quarter as sales surged above pre-pandemic levels the retailer now expects current quarter sales to rise bias much as 45% from 2019 figures, so yes , that stock is up 11% on up beat forecast, they also beat on both the top and bottom line, so they are splitzing shares of bath & body works to the top of the s&p 500 right now. looks like it's almost at session highs there, but bath and body's sister company, victoria's secret which actually had been doing well since its standalone debut earlier this month having a carrie brad saw fashion road kill moment down 4.7%, shares are down 9% earlier on the market runway

after a lower than expected third quarter profit forecast. shares are as you see pairing some of those losses right now, and the pandemic puppy and kitty love clearly still in high gear, petco pawing its way solidly into the green after topping eps and revenue estimates and raising its full year forecast, woof maybe the symbol but nothing about petco stock says it's a dog, it's up 3.5% in this final hour of trade, and you just heard teddy mention a different stock in the same space, but that one just had been up all day, and turned negative in just the last couple minutes, but the dog days of the pandemic, leaving red robin feeling pretty caged in the burger chain getting charred after missing both earnings and revenue estimates. covid restrictions and worker shortages, taking the blame for the stomach-turning results which have shares getting battered at this hour down 14.25 %. if we can, we should just check in on top competitors in the

burger wars they look like this. wendy's mcdonald's burger parent restaurant brands international all sinking today, let's not call mcdonald's sinking is down half a percent but we should peak in on casual dining chains it's an apples apples comparison to red robin, applebee's parent is kind of taking the biggest hit here down 3% right now. so, tesla's ai day just hours away, but will the safety probe into its autopilot technology overshadow elon musk's much-hyp ed event? we'll check in on the stock and we will ask the youngest self- made billionaire in the world who got there by creating the very technology that helps cars drive with no driver. luminar ceo and finder austin russel is here talking about the future of autonomous driving and whether lidar could be the key to crash-free self- driving closing bell ring ing in 48 minutes the dow is

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liz: okay, the clock is ticking, we are less than five hours away from the kickoff of tesla's ai day, elon musk, you know, he's kind of bound to say anything at these events and in april of 2019 he promised a full suite of self-driving tesla taxis be deployed this year, and while we clearly aren't there on that promise just yet, and the stocks down 2% at the very moment let's bring in someone whose at the very forefront of making a moon shot like that, a reality. austin russel ceo and founder of luminar, a global leader in automotive light detection, aka lidar says his lasers can help build the un crashable car. let's bring in austin, ceo of luminar. austin great to have you back. it feels like elon musk might make some brave new world of technology predictions during

his keynote. what would you love to hear most from him tonight? >> [laughter] well, you know, i think it's certainly an interesting time with everything going on, but i think the reality is is that whether we like it or not, the people have come more and more to appreciate just how challenging of a problem self- driving vehicles is to be able to solve for urban environments complex environment s and be able to do so much less with to be able to try to do so without the required sensing capability and that's part of the distinction of what we've been solving for is to be able to allow these cars to accurately see and understand everything on them, to a stage of where you can solve that last 1%, solve all of the edge cases that are difficult and i think, recognition of that and at the same time, the ability to focus not just on trying to better improve the systems of today, but taking the leap to be able to get to the systems of tomorrow for what's required and

to just focus as much as anything on safety, is going to be the key to being able to successfully enable this industry. liz: well, you know, everybody wants everything now, yesterday, but how and where are we at the moment when it comes to lidar that can create what you say will be the uncrashable car? >> so we're actually already starting to see some of the results of this too, and you know, when it comes to the lidar equipped on vehicles one of the big breakthroughs we had was actually starting with one of our elons working with volvo, they are standardizing luminar ceo technology on every new vehicle they produce starting of the xc 90 variety next generation all electric car that they have, and this is where the significance is, is that it goes beyond just the highway autonomous capabilities we've been talking about. it actually goes to how can you substantially improve the safety

of a vehicle when the human is driving to be able to create that uncrashable car as you're saying and that's exactly what we're going for with this , so with that we're already starting to see the results. we actually just showed off the first results in our munich, germany office, where you can actually see the car coming to a safe stop even with the be test are all detection scenario examples in tough use cases. liz: i find that fascinating and listen, volvo was known as the ultimate safe vehicle and they're going all electric and clearly you have this partnership with them. i know that tesla is using some of your stuff in their research, but what about a partnership? i asked you this last time and i know you kind of were like oh, i don't know. we'll work with anybody, but have you had conversations with elon musk about this? >> well, i think there have been some leaks out there too about systems on their cars that look very similar to ours, so to

say, you know, out there, but the reality is is that we're setting the benchmark in the gold standard in the industry with this. everyone has recognized this is what you need to be able to get there. it's just a question of when, for each of these different automakers, and we've already been off to the races. we're actually working in the testing and/or development phase with eight out of the top 10 major automakers already having one major series deals with a number of them already, of kind of the first of its kind , with this capability, so it's all about that focus. some will be certainly sooner than later, some also have legacy promises or whatever it is that they are going to have to find their way to explain, but the reality is that this is something that requires a new level of safety if we want to be able to successfully solve autonomous and solve the safety problem for driving. liz: yeah, i completely get that

, but the competitors are circling, we just had an ipo yesterday or at least a public debut of ai which is the ymbo sl ymli sym re trying to t edgeo athreat and i dean arar cs csuthathadou y do for hr te ells we sporansponan sspministmiratistrn igstionat i recen crhes?s? te is ioing ergencyency someome oomf the ectricc eye, e are a youot, and cee all. bunch these on a tesla model y for example? >> right absolutely and i think that the probe there isn't necessarily a surprise to most, if not all the experts in the industry when it comes down

to it but the reality is is is that there needs to be a substantially-increased focus on safety because there is a direct opportunity, what's the difference, what does this allow you to do? it allows you to not hit things. vehicles still get into collisions all the time, whether it's tesla or otherwise, you know? in any example there too. i think the distinction maybe why there's more attention to there is because they are calling it a full self-driving system when it's not and that's the distinction, but when it comes down to most automakers the goal is how can you make these vehicles much much safer when they are being driven and how can you start to enable truly autonomous functionality hands off, eyes off, you know, where you can recover that time, read a phone, or sorry read a book, use your phone, work on your laptop, watch a movie take a nap whatever it maybe so that's the whole point, but yeah , we're taking it to the next level and only reinforcing it actually just a couple hours ago we announced that we're bringing on a number of great new leaders on to the luminar

team, everyone from the waymo and executives from across-the-board to be able to help focus on the strategy, focus on execution, and focus on delivering this into the market for ultimately not just the initial oem, but the entire landscape. liz: yeah, saw that sardar gotha m is coming from waymo. we went out to arizona and drove along with john craftcheck, and watched how waymo is taking over and it's a fascinating really great time and you're at the forefront, austin thank you very much the stock has struggled about 50% down since the start of the year but still up 50% year-over-year. we'll see you next time, please keep us posted on any new partnerships as we follow the stock. >> absolutely, will do. thanks for having me. liz: anytime. global forces looking to put the screws to the taliban financially, as the race to evacuate americans and their allies out of afghanistan has

now turned deadly. we are going to get you the very latest breaking news, live from the white house, on what's being done to keep the terrorist regime in check, and get thousands of americans still stuck on the ground out, and we talked about robinhood and how well they did with currency, cryptocurrency trading. we do have crypto moving higher right now, bitcoin now back above 46, 540 at the moment, up about 4%, ethererum gaining 3.8% , litecoin up 4 1/3%, dogecoin is having a good day, closing bell ringing in 35 minutes we're coming right back and yes the dow back in the green by about two points we'll see if it can stay there. ♪ ♪ experience, hyper performance that takes you further. at the lexus golden opportunity sales event. get 0.9% apr financing on all 2021 lexus hybrid models.

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liz: we are just getting this breaking news in. we just got updated numbers from

the pentagon. there are now, at this moment, 6,000 people including american citizens, who apparently we're told have been processed inside kabul airport, and are cleared to board planes to get out of the war torn region. more than 7,000 people have already been airlifted out of the capitol city since saturday. the pentagon spokesperson, john kirby admitted, he does not know exactly how many americans remain in the nation, which is still under siege. as the taliban retakes control, the biden administration is working to ramp up economic pressure at this hour by moving to freeze afghanistan's more than $9 billion in financial assets in u.s. banks. connell mcshane closely following every single development joining us now live from the white house. connell? connell: liz we've been looking into this throughout the week and you're right. efforts are certainly being made made to cut the taliban off financially. right off the bat that is easier said than done in many ways for one thing we know the taliban now has access to billions of dollars worth of

u.s. military equipment. tens of billions of dollars really they have that in thin position and we also know over the years they have the ability to operate outside of what you might refer to as the traditional financial system. that said, in terms of the efforts afghanistan's government did have $9 billion in reserve as of last week, seven of the 9 billion held here in the u.s. by the federal reserve, federal reserve bank of new york, access to that rainy day fund, that's been cutoff and frozen. then there was a $340 million payment that government was expected to receive next week in imf funds. that at least for the time being has been put on hold by the imf , but again these efforts don't necessarily mean that the taliban somehow goes broke tomorrow, a former treasury department official who we spoke with and has experience in afghanistan tells us this group has other options. >> the taliban people to self- fund, they raise money from heroin, foreign donors from the gulf, these are problems that have been going on for 20,

30, 40 years and the u.s. government and the international community have been working to try to stem that questions about are they getting money from foreign support is a live question. connell: you'll have to watch that. there's a u.n. report estimating the taliban is able to generate annual revenue between 1.6 billion u.s. dollars so a wide range in the u.s. certainly has work to do here coordinating with allies on these issues, on foreign aid, for example, but even if that were to be cutoff the foreign aid, the illicit drug trade has been so profitable over the years, and certainly its worked for the taliban, liz in the past , and could work in funding the government in the future, liz? liz: funding the government, but hit them where the wallet is, that certainly doesn't hurt the situation, it helps. connell mcshane thank you very much. investors who doubted kohl's turnaround story and thought do you know what? that's a chain store of yester year, are in full regret mode at this hour, shares are shooting higher after the

company upped its full year forecast, but could new competition that has been kind of revealed and reported today from one of the biggest names in retail threaten kohl's forecast or actually help it? we've got the ceo of kohl's right here, michelle gass. we will ask her and talk about what else she plans for her very strong company at the moment. it's up 6.5% right now for the stock closing bell ring ing in 28 minutes we've got the dow up 20 now, s&p up 14, nasdaq up 47, you can not count on this though, folks. we have been up/down, all around this session so stay with us to see how this one ends. i've spent centuries evolving with the world. some changes made me stronger. others, weaker. that's the nature of being the economy. i've observed investors navigating the unexpected, choosing assets to balance risk and reward.

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and it's become your family's heart and well, that investment can give you tax-free cash just when you need it. learn how homeowners are strategically using a reverse mortgage loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. look, reverse mortgages aren't for everyone but i think i've been 'round long enough to know what's what. i'm proud to be part of aag, i trust 'em, i think you can too. trust aag for the best reverse mortgage solutions. call now so you can... retire better liz: e-commerce king pin amazon now taking aim at brick-and-mortar domination, as we look at the markets which are very close to session highs at least just a second ago, i

believe the dow had been very close to session highs. we've got amazon, i mean, this is really interesting. amazon is flat to slightly lower , even as sources tell the wall street journal, the e-commerce behemoth that dominates just about every sector it enters is planning to open multiple department store sized retail locations throughout the u.s. , with ohio and california as starting points. just as amazon takes aim at already struggling retail chains , not struggling today. department stores and their investors are now could you erring in the face of this new news, in fact macy's look at this pop 19% to the up side, nordstrom up about 4%, kohl's has seeing blowout gains of close to 7% right now after announcing beats on both second quarter earnings per share and revenue. boy it was a lot different story just a couple years ago for kohl's let's get to the woman who helped sell one of the biggest turnaround stories in retail, kohl's ceo michelle g ass. what a day, right?

you have unbelievable earnings news, the stock is responding one might say quite appropriate ly, plus amazon trying to nudge its way into if you believe the journal report, your territory, even i know you have a partnership with them, but what do you think on a day liked to, about your sector, which a lot of people had, you know, started writing for? >> well, i think it's an incredibly exciting day for retail, and for kohl's, as you just said, liz. we're so proud of our results. recordq 2 earnings, we increased our guide, highest level ever from an eps standpoint, we returned to 2019 sales levels but really importantly, we're doing that in a more profitable way, and what gets us really excited is these are foundational and fundamental changes that we're making on the business to restructure both in terms of the customer offer ing as well as the profitability and so that sets us up for growth for years to come, and i also think what's really exciting for

kohl's is we are on the cusp of tremendous opportunity as we look forward, really most of the opportunity is ahead of us as we sit here today. liz: well, i think that somethings important to point out on how you did it. you kind of brought kool back to kohl's, with these partnerships, whether it was sephora or some of the other names that have pop -up stores within kohl's, now people have extra reasons or at least sort of fresher branding reasons to go into the stores. what has that done for the foot traffic and on top of all of that, what new plans do you have for new partnerships? >> yeah, absolutely. so liz, you know, we've been on a mission to really evolve and as i said transform the customer experience, take everything that's been great about kohl's for years. i mean we have phenomenonal private brands like sonoma, so, croft & barrow and the like but also to bring more relevancy

with new brands and new partnerships and you did mention amazon what we did a couple years ago with this really unique partnership is a way to drive more relevancy, new customers, more foot traffic and giving them a great way to deliver seamless returns. partnership i think is a hallmark of the company, and innovation as well, so we are in this major drive to, as i said, transform our business into much more of a lifestyle concept. if one would think about us in the pastas a semi-department store now, we don't share a lot of qualities with department store as in we're off-mall, our stores are setup differently but nonetheless, make them pivot and to the active and casual lifestyle and that means lots of great brands like tommy hilfiger , eddie bauer, we're making a huge investment in active and then in the spirit of the lifestyle concept, we are so excited about our game changing partnership with sephora so all of these things drives relevance and differentiation for the brand and the concept.

liz: michelle, so, amazon. you do have that partnership where people can pickup and return items et cetera, that are amazon, but talk to me about this. you hear some of the market experts who are in the retail space say, look, if amazon really wants to make a splash they should just swallow up all of kohl's, instant storefront. have you had that conversation? have you had that discussion with amazon? >> you know, i don't really comment on speculation. what i will tell you is we have a great partnership, and complementary strengths. what made this partnership work so well is that we both brought unique things to the table. we've got more close to 1,200 stores, 80% of americans live within 15 miles of a kohl's, and they have tremendous customer reach and so this notion of customers being able to return an amazon product into our stores, its been good for both companies, its brought us traffic, its brought us new and

younger customers, those customers are converting and buying kohl's product, in fact conversion is up year on year so we feel really good about the partnership and they would say the same thing and together, we have world class customer engagement scores, so it's working, but you know, it's just one piece of the equation for kohl's. as you think about again this transformation that we have initiated with the new brands coming in and the sephora partnership means liz, as of tomorrow, we're going to have more than 70 stores with the 2,500 square foot sephora shop. that'll be 200 by the end of october, on our way to 850 stores over the next couple years. liz: i'm looking, i love looking at max chart, maximum, and it was back in let's just say 2009 during the financial crisis where things were really difficult, climbed back, but then of course last year, march of 2020, with the pandemic. a real drop there. you have come fighting back with

this stock, even in light of activists whom i know you've brought on about three of the members of activists on to your board, but you didn't just fall flat. i mean, you really kind of said wait a minute. you guys have ideas, we'll listen, but you're not really going where we want to. how did you reach that sort of meeting of the minds with activists? >> well first, what i would say with the activist investors and they are still investors with the company is we both see the long term potential of the company, and ultimately we did settle with the activist to bring on three new independent directors, who all bring different experiences across retail, so we welcome them in and they are now part of our board and we have a very strong and diverse board, with our existing board members as well, and to your point, its been an extraordinary near for kohl's and for retail overall, but again, i'm really proud of how

the organization has navigated all the while, we were adopting on how to manage through this pandemic, clothing stores, reopening stores, doing that in a very safe way, leaning into digital, and then on top of that , saying this is a time to reinvest, which is what you're seeing today. liz: michelle gass of kohl's, stock is up 6.7%, we'll follow the story, and we'll follow you, please come back. we're coming right back.

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liz: it's all in the data. data storage, that is, when it comes to nvidia, you can't describe this , anything other than a wild ride this session, so the chipmaker started the morning in the red and then vaulted into positive territory,

and 85% surge in gaming revenue helping to fuel a double beat on second quarter estimates, but it's nvidia's 35% pop year-over-year in data center revenue, to nearly $2.4 billion that really gets the shout outs from some of the biggest names on the street from bank of m america, to evercore, shares were down, at session lows up as much as 7.5 at session highs trading up about 3.6% for nvidia , to 197.36. can we see 200? we shall be watching. reddit rebels trading favorite robinhood disappointing on its first public earnings report, depending on how you look at the numbers, okay? they did post a much bigger than expected loss, certainly what the street was forecasting and a warning of a slow down in retail trading for the current quarter because it's a seasonal lull at this point when it comes to trading, as we see the shares, they don't want to hear at least

investors at the moment they do not want to hear anything positive or they can't at the moment because we have shares down more than 10%, there were some good points in this earnings report, but let's bring in charlie gasparino, who has been working the phones and we start with this question, charlie. what's robinhood without it's retail traders? charlie: it's a great point, liz wait a second. >> ♪ charlie: oh, i love this song. i love kenny g. we're going to invite kenny g on the show. the real kenny g, not ken griffin, because i love kenny g. liz: [laughter] charlie: this is my, i want you to know, this is my favorite kenny g song, i'm telling you. liz: okay. nice. charlie: let's forget about the day. who cares about robinhood. liz: oh, my gosh. charlie, people who watched you two days ago don't know they are

calling ken griffin of citadel, kenny g and of course, this brings in how -- charlie: it's the amc apes, and they think i'm in bed with kenny g, i want them to know i love kenny g, um, here is, okay, here is the problem with robinhood's earnings and i think this is where they fell short. it's not just that people wonder about impeachment for order flow , but that's not going to be banned they said that during the conference call confirming all reports about how you house finance committee quashed a ban on it they were initially going to do one republicans rebelled with moderate democrats and as we first reported, they walked away and they are going to study the practice, so they punted on it. that's not why this is down. this is down because i think what they're saying in their report if you look closely, is that third quarter is going to be horrible and this is still a company that's a one trick pony. it's trading. they have to diversify and go

into lines of business and be more like charles schwab which has a bank and this and that. these guys are all trading even though it's crypto trading and trading of this and that and it is trading and that's one of the problems and payment for order flow is still going to be there, but it's going to be a volatile business if people stop trading and i think that's essentially what they said. liz: but we're not stopping charlie. it's a seasonal summer, late august -- charlie: that's why people trade on it and trade it off because they have less revenues, and you know, if you have less revenues and you still aren't making money, it becomes an issue for the company, so be that as it may that's robinhood. let's pivot. you're probably right but i'm just saying that's why it's off. let's pivot on why the sec staffers are hating on gary gensler. it's a fascinating story i've been speaking with people who are staffers. you have to look at it this way. there are managers at the sec so most people are staffers so that means staff attorneys are actually unionized there and because of his style, and his

style has been described as everything from autocratic to dictator, to he knows what he doesn't know, he's the boss and he wants everybody to know he's the boss, he's made, made the sec a less collegial place so there is a little revolt and what he might have a problem with is the union at the sec, because all these staffers are unionized, so he's making friends left and ride, congress, the republicans that don't like him and now his own people don't like him back to you, liz. liz: i've got his youtube channel. charlie: that's right. liz: charlie great to see you thank you very much. we're coming right back, dow is down 77. ♪ ♪ it's a wishlist on wheels.

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♪. liz: the white house reporting moments ago today is the first day in seven weeks that one million people have been vaccinated over a 24 hour period. today's "countdown" closer says the pandemic's resurgence in the form of the delta variant could well deliver new buying opportunities in stocks of companies that are capitalizing increased vaccination rates. no he is not talking about the vaccine makers. four 1/2 billion dollar manager regard ceo, timothy chubb is joining us now. if not the vaccination makers, who then? >> yes. i reallyily think there is opportunity in cyclicals. we've seen pull back from recent highs. one of our favorite names business of the aerospace defense category, i always like to joke, niches get riches.

it a focused businesses with business very few competitors, providing after-market airplane parts and airplane parts and components, seatbelts hinges, bathroom facets and like. as planes are developed they have typically margins of is a to 20%. over the full length of the 25, 30, year life of the plane, closer to 70%. ultimately a name pulled back pretty significantly within the last month or so. just as we've seen this rowcation. and i think the consumer is another great place to log especially in parcel delivery business. pricing pressure from wages has not been nearly enough to offset the pricing pressure or excuse me the opportunity i suppose on the revenue side of things and ultimately there is a lot of fish efficiency to be had as businesses fine tune. u.s. consumer in phenomenal

shape and we expect it to continue as the it develops despite the delta variant. liz: ups you like. that ratio is kind of fair at 11. timothy chubb. thank you very much. [closing bell rings] folks it has been a wild session. s&p and nasdaq look toe eke out gains. dow so much. "kudlow" is next. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. last night we talked at some length about the catastrophic consequences of the biden afghan pullout. how biden should quit the blame game on trump, bush, afghan government, afghan military and how we should attack the terrorist taliban who are the root cause of this problem. by now politicians and policy experts in both parties acknowledge the biden disaster. by the way, ife