i suspect this was an isis bombing although i don't know that for sure. we don't know the full extent of the damage and the loss of life yet, but we can attribute this to probably some of the taliban but is the taliban a reliable partner? i don't think so. charles: yeah. representative crawford, really appreciate your expertise, your service to this country and coming on with us thank you very much. now, to liz claman. liz: charles we do begin with that horrific breaking news fox news reporting the number of marines killed in the twin bombings at kabul airport has gone from four to 11 and fox news is also confirming a naval medic has died as well. the deadly and complex terror attacks five hours ago in afghanistan throwing the u.s. evacuation efforts into turmoil and driving markets lower. multiple civilian casualties still being counted after two suicide bombers struck the gates of the crowded kabul airport just before 10 a.m. eastern time

markets dropped immediately to session lows after the attack, and then, they have just made fresh lows in the last 19 minutes on news that we now have a much larger number of marines killed. now, before the twin bombings investors had been focused squarely on the much-awaited jackson hole virtual conference, which kicks off tonight followed by federal reserve chair jay powell's speech tomorrow. our floor show traders are here to tackle both the taper talk, and the terrorism. the electric vehicle revolution bringing in big changes as americans make their most pronounced shift ever from cars with internal combustion or gasoline powered engines to all electric cars. the advance auto parts ceo is here on how he's preparing for the day when nobody enters his store, looking for oil filters or spark plugs. and youtube super star turned boxer jake paul is here to give us a preview of sunday night's flood fest in cleveland, against former ufc weight champ tyron

woodley, but first we begin with this market alert. all four major indices in the red the dow hitting brand new lows, with the russel 2000 by the way making the biggest percentage hit. we do have the dow down half a percent, same with the s&p and the nasdaq, but the small caps are down about 1%. now the dow had been up 92 points, at the highs this morning, until about 9:48 a.m. eastern time, when news broke of the first bombing outside the main gate to the kabul airport, shortly there after, the second suicide bomber hit the area, right now, the dow is at session lows, so this is a new one we're down 173 points, the s&p now set to snap a five-day winning streak. it's slightly off its lows of the session but again, around 9: 48 a.m. eastern you can see the big drop, and right after the bombings, the nasdaq also plummeted 100 points any gain would have meant another record at the close, but if you are looking for green, you will

find it on the vix. that should not be a surprise, volatility index is also known as the fear index. it spiked 10% on news of the bombings and right now it's climbing back up there it's at 12% at the moment so breaching that, you know what? it was certainly a bit higher than that, so at the moment we're up 12%, and up until those bombings this morning the financial world had been waiting on one thing. federal reserve chairman jerome powell and whether he will reveal his tapering plan when the central bank meets and begins to normalize rates which are still at emergency levels of zero to a quarter percent. now the fed chief is set to speak virtually at the annual banker's meeting in jacksonville , wyoming but kansas city fed president esther george sent him an early message in an interview today with fox business' edward lawrence. >> i think as we look at the outlook for the economy, there has been good progress on the labor market front, certainly the inflation numbers

are coming in strong, would suggest that there's an opportunity to begin to dial back on asset purchases. liz: what if esther george stephanopolos right and she maybe nudges jay powell to make some type of statement about tapering? is the market ready or will it throw a taper tantrum tomorrow and what can we expect to hear from jerome powell let's bring in our floor show traders,ism f ed income scott kimball and sarge guilfoyl e. i want to start with you, because obviously we have this horrific situation developing in afghanistan at the moment, you of course served this country, we can't thank you and your brothers enough for all they have done but tell me what you saw on your trading screens, at about 9:48 and how long does something like this work within investor's minds? >> it'll stay in investors minds as long as the situation

persists, so we're going to be there for at least a few more days. if i was the command ever in chief we'd be there for another year, and i do believe that we have to prepare for if this doesn't force the military industrial complex to have to expand then something else created by this will, so as a trader i saw the market come in, i'm buying lockheed, defense contractors because i believe this will provoke greater military involvement by the united states forces around the world. it won't be a withdrawal from afghanistan but it will force action elsewhere, and to my brothers and sisters out there, who are in the field and i'm sorry i'm not in the field with you, always faithful. we are always faithful. liz: i could not agree more, and our hearts are with them at the moment. so, you know, it is certainly the most important piece of this is the human toll but as we are a business network, we're

going to focus as well on the market aspect of it and scott, sarge just talked so eloquently about the situation in afghanistan. now i need you to talk about jackson hole again. it is virtual, but we know probably that the fed chair jay powell is not going to say okay, get ready. we're going to start tapering all the asset purchases that we've made during the worst of the pandemic, but does he need to at least make a verbal step towards that? >> yeah, appreciate the question, and acknowledging, of course that it's always difficult to pivot to markets that some of the news percolating in the background on afghanistan but i will do my best. insofar as chairman powell is concerned, one thing that we've been committed to is not letting the confusing the term tapering or reducing or to use esther george's term dialing back asset purchase to be synonymous with ceasing them, we think chairman powell will have to lend some

acknowledgment we're moving emergency level stimulus from this system is likely warranted but still leaving himself a significant amount of optionality because there is a lot of uncertainty as we're talking to the the geopolitical front is ramping up. we've seen the labor market improve, but at the same time we're seeing productivity also the dynamics are changing tremendously, work-from-home and returning to office are things that a lot of companies are grappling with and that has effects on the labor market and demand for labor as well, so there's lots of things in the background we think he's going to acknowledge as things that will allow him to adjust policy and that tapering of emergency level support one direction or another. liz: i do not understand, sarge, this believe that there won't be a taper tantrum in the markets, that the markets are somehow ready. i fully believe the minute it kicks into play, we're at least going to have a short-term spasm of sorts. what are you going to have on your shopping list when that happens and when we see that

moment where the market takes some hits? >> i think you have to be ready to buy or employee and your positions and what's inelastic. the covid-specific healthcare names like moderna, pfizer, and abbott. the high-tech names from the semiconductor space, and the software space which you know the business is there or even increase if we have a little trouble escaping from the delta variant throughout the fall. like i said the defense names. the cybersecurity names. like a bone head i got myself out of these names earlier in the week thinking i had fantastic profits and i did but i could have had much more fantastic profits so i need to get back into the z-scalers and palo alto. i don't want to be in the bank because i don't trust jerome powell here. i think he's going to have to sound a little doveish tomorrow because he has to see how these 11 million people coming off the federal roles in what a week and a half or so, that the next two months these labor markets going to have to absorb them and before he makes any commitment or sounds like he's making a commitment he has to see how

well that absorption goes. liz: let's just make it clear. the reason financials start to move higher when they believe interest rates are going to at least tick up is simply because lending becomes more profitable to them, and i think you're right. i do not believe that jerome powell is ready or has that so-called sort of financial courage to do this. not many federal reserve chairs do, okay? we have to go back to the reagan era, to see that happen. we thank you both very much on a very difficult day. sarge guilfoyle, scott kimball. the dow jones industrial is down 199 points. car sales on the verge of pulling a 180 in the opposite direction, according to new estimates, by j.d. power and lmc automotive they are forecasting a 14% slump in sales for august. is that just an inventory issue because i can tell you the ev revolution soon jump

starts not only auto sales but also will it really spark a new wave of demand at auto parts retailers? and are they ready for it? do they have the goods? advance auto parts ceo coming up , next on preparing for the all-electric revolution. closing bell is ringing in 50 minutes. dow is down 189, we are coming right back. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage.

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it's time for the biggest sale of the year, on the new sleep number 360 smart bed. it helps keep you effortlessly comfortable by sensing your movements and automatically responding to both of you. and, it's temperature balancing to help you stay comfortable all night. it even tracks your circadian rhythm, so you know when you're at your best. in other words, it's the most energy-building, wellness-boosting,

parent-powering, proven quality night's sleep we've ever made. and now, all smart beds are on sale. save 50% on the new sleep number 360 limited edition smart bed. plus, 0% interest for 24 months. only for a limited time. liz: we have breaking news. we are monitoring the pentagon briefing that is going on right now. spokesman john kirby just confirmed that 12 u.s. service men dead, 15 wounded , and general kenneth mckenzie moments ago said, "the threat of isis is extremely real, and the u.s. expects isis attacks to continue, and that they wilfully hit reprisals against those who did pull this terrorist attack off." we are monitoring it, we'll bring you any details as they become available check the dow down 188 let's talk about lordstown motors it's speeding forward with a new driver at the wheel. auto executive and former head of icon enterprise has been

tapped as the new ceo and board member, despite the ev truck maker lagging over the last few months look at what that announcement has done to the stock, juicing it up 18.5% at this hour, nice move there, but ev leader tesla not really getting any halo effect there, we can check on that, tesla is down about 1.6%, and workhorse not really showing much action there, the embattled nicola is getting a decent move up about 2 % but we do want to show you this because it really articulates the extent of the change that we are facing right now. gas powered internal combustion engines are made up of some 2,000 parts, but an electric vehicle engine typically is composed of 20 moving parts, so as the push toward an all ev auto industry goes full throttle, what does that mean for the businesses that make money selling all of these parts? are they ready for the shift that we're seeing right now?

let's bring in advance auto parts ceo tom grecko. we've been scrutinizing your website and we do see parts for certain electric vehicles there but give us the view at 30,000 phaedo of what you've been doing to prepare for what appears to be a very serious change in the way drivers are picking their vehicles. >> well thanks for having me, liz. we're excited to continue to adapt to all the tech knowledge changes that are out there. our companies been around for a long time, and we seen these types of changes over the years and you have to constantly adapt to these types of changes. you can count on us to do that. we see that the trend that we describe it as deeper, so in other words it's very concentrated here as we sit here today, in certain counties, in certain markets across the country, so think about the coast, where you've got higher penetration rates and that's where we'll be doing a lot of the work in the next while.

as you look forward the estimate s that we have there's 280 million cars on the road today. we expect there to be about 300 million cars on the road in 2030, and at that point, there will be about 15 million bev or battery electric vehicles so it's going to take some time for that to happen. you mentioned all of the different parts. hybrids are quite similar for us in terms of the number of parts that need to be repaired and maintained, so we're somewhat in different there. the bev is quite different as you describe, but they do have wipers, they do have brakes all need to be washed they all need to be accessorized, so we are getting ready for that trend it's going to happen a little bit out there, in terms of the next decade really when you'll see the biggest impact but we're absolutely going to be ready for it. liz: tell me what are in some of your stores now, that simply didn't exist? let's say seven to 10 years ago, that relate to the ev shift?

>> well, first of all, i'll speak to batteries. it's not commonly known, i don't think, that every bev car has a 12-volt battery in it. we have die hard and die hard is a great brand that we acquired about a year and a half ago. it's off to a terrific start, so you know, we're continuing to adapt to the vehicle technology changes, because these cars, they need power. they need more power than ever, and over the next 10 years, you're going to see more computerized, more sensors, the vehicles are going to need screaming going into tv's in the back of the vehicle, and our belief is they are going to need even more power than they have today, so die hard, which stands for power, and is a great brand that can play a role in that and that's something that we're talking about very directly. liz: tom, we know that there are supply chain shortages. we've talked about the chip

shortage et cetera but we now have the united kingdom announcing this morning their car production has just dropped to the lowest level since 1956, for a whole host of reasons. labor shortages of course the chip situation too, supply chain, blockages et cetera. what is the fall-on effect for you? if people can't buy new cars, is that bad for you or does that mean that they are repairing, and buying things from your stores moreso to keep their current cars running well? >> well, your questions a good one. it really is good for our business, if the truth be told. any kind of pressure on new vehicle sales means that people are going to keep their existing cars longer, which translates to an aging fleet, and one of the reasons we just reported a terrific second quarter with 5.8 % comp sales, 13 on a two- year stack, earnings per

share were up 57% versus 2019, is the fact the age of the fleet is getting older and to the extent that it's difficult to acquire a new car, people are going to put more money into the existing car that they have, and that means they are going to need parts and all of the things that we sell, so it is a trend that's good for our business, and as other trends are, miles driven is an important trend and something we'll start recovering as people start returning to the office the absolute number of cars on the road obviously is important, but the age of the fleet getting older is good for our business. liz: yeah, i figured well good there's that silver lining for you guys tom greco of advance auto parts thank you very much for joining us. we've got reality star turned billionaire cosmetics guru kylie jenner helping cody turn heads as makeup sales see a brighter post-pandemic future and wait until you see how bright the

stock looks right now plus youtube star turned boxer jake paul ready for his next challenge and it could be the toughest one yet in his young undefeated career, but he's also undefeated as a businessman. he's going to tell us all about it when he joins us, live in just a few minutes. closing bell ringing in 40 minute, dow is coming up off the lows but still down 156 point, don't go away the "clayman countdown" has much more ahead. ♪ ♪ ♪ ♪ ♪ ♪ deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours.

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we've got you taken care of, sgt. houston. thank you. that was fast! one call to usaa got her a tow, her claim paid... ...and even her grandpa's dog tags back. get a quote. liz: fox business alert, cody shares not in need of any coverup or concealer at this hour, the kylie cosmetics parent beating expectations for its full year forecast after reporting an 89% year-over-year surge in revenue, in its fiscal fourth quarter look at these shares up 15% right now. robust demand for actually it was cody's fragrance product

products in all of its global markets getting credit for the sweet selling sales performance the good news comes ahead of the launch of the cosmetic giant's new digital ly enabled touchless perfume tester due to be released in the next year. still a $9.46 stock, but hey, it's up 14%. harder, better, faster, stronger , kylie jenner's ex- brother in law kanye west making a power play in the speaker market. teaming up with electronics maker to unveil that thing. the donda stem player the little hockey puk had size thing named after west's new album, the device priced at $200 will allow users to literally alter, meaning mix and play songs, add to them in anyway they'd like due to enhanced audio features. so if you want to, you can add the celo to something, whatever you want, sony getting blasted

down about 3.5% and speaker rival sonos is down 1.7% in the red but kanye, who by the way yesterday filed to legal ly change his name to yay, also potentially taking after apple, and amazon's alexa enabled echo speakers shares of three tech titans mixed right now it's amazon really seeing most action up half a percent. call this one a fashion fail. abercrombie & fitch plunging at this hour after missing second quarter revenue estimates shares of the teen retailer at this hour down 11.25% but blade mobility spinning higher into the close credit suisse launch ing coverage of the private helicopter and travel verse with an outperform rating the bank predicts that blade will continue to land customers long term, thanks to its high end alternative transportation offerings. shares right now gaining 4.6% for blade. the kid from a cleveland suburb, who went from wise cracking

youtube star, to undefeated in the boxing ring is about to attempt another battle proving he is both a legitimate force in the sport of boxing, and in the business world. jake, the problem child paul, getting ready to take on former ufc champ tyron woodley, is he more businessman then brawler? i'll ask him that question next, lives right here on the "clayman countdown." closing bell ringing in 32 minutes we do have gold on the screen, turning green, it's up about $2.70 we've got stocks moving lower at this hour, we're coming right back with jake paul , next. (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you,

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liz: sunday night is fight night in cleveland, youtube super star jake paul dubbed the problem child, is set to box former ufc

champ tyron woodley i n cleveland, a fight which woodley claims will be the biggest showtime pay-per-view event of the year and many accuse jake paul of being "a clown whose boxing turn is just another stunt" but folks, his record is perfect. 3 and 0 record and the millions he's made beg to differ, before jake paul enters the ring sunday night the problem child himself joins the "clayman countdown." jake, you're just three days away from the big moment, none of this stuff, you are the headliners how do you feel going into the fight? >> i feel good, i'm ready. i already got my shirt off. i thought the fight was today. [laughter] i'm just excited, counting down the days, and i'm going to knock this guy out and move on to the next one. liz: okay, nice jewelry. i'm liking the mr. t look definitely, but listen, tyron is calling this a war, and there's an espn boxing real or not column today with the header "

woodley will put an end to jake paul's run" and even some of your friends or i guess former friends are predicting woodley will knock you out. what do you say to that? >> of course they say that. of course they try to hype themselves up, of course they are confident in their ability this is a fight gain so the other side is never going to say he's going to win, you know? so you really, it comes down to sunday, and whose actions will be louder than their words. i'm undefeated 3 and 0, and this guy is going to be out of his element. this is what i do. this is what i've been doing, knocking people out, so all the talk is cool, but i'm going to knock him out. liz: you're taller than him i can see that right there. there are two pieces of this the ticket sales for the live event at the rocket mortgage fieldhouse, and then of course, there's the pay-per-view piece of this. can you give us a sense of the

interest, in the live event and the ticket sales? we're looking on the site there were some open seats there the green parts we'll show some of this but give me a sense of what you are seeing and hearing. >> yeah, look there's the excitement is ramping up. we just got to cleveland so i think people are still getting their tickets and starting to file in and this is the first fight i've had with the audience , so no one has done this big of a numbers. we're on pace and we've already beaten mcgregor's record for his first live gate at the ufc. we've already sold more than that and that's when he was about 15 fights into his career. so in my fourth fight, i'm already selling more of a live gate than mcgregor did with the ufc promotion mind you, i'm doing this by myself, no ufc branding, no dana white behind me, so it's pretty amazing stuff i'm excited about and then the pre-buy for this

event are on pace with floyd mayweather and my brother 's event in june, so that means we're looking at 1 point something million pay-per-view buys. liz: well your people have really limited us in time which annoys me, but i want you more because i want to hear about your business angle here. you have a lot of sponsor, i'm sure you're in great demand. your brother logan has been on the show he's tried his hand at boxing as well, but you know, he hasn't had as much success as you have when it comes to boxing. i mean, how good are you? could you beat ali in his prime, because could you even go one round with ali? >> i mean, ali is a legend. we're both born on the same birthday, and he's one of my greatest inspirations so i don't envision us ever fighting, but of course never envisioned that in my head what a match would look like between us, but my

goal is to be world champion. i want to take on the likes of kinello and guys at the top of this sport. i believe in myself and i believe in my ability and i'm just getting warmed up with what i can accomplish. liz: we'll be watching it, jake, thank you very much. >> i appreciate it. thank you for having me. liz: jake paul, the problem child. he doesn't seem like a problem child. he seems like a good cleveland stock i like that. good to see you. all right, markets off session lows, but a deadly terror attack in kabul is still very much hanging overall kinds of issues here whether it's the markets or the humanity or the drama of what is happening on the ground in afghanistan and the refugees. we have stories of those who have managed to escape the terror we're heading live to the white house for a report with the very latest. you will want to hear that closing bell 23 minutes away.

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liz: the crisis in afghanistan is weighing on defense contractors, there's a name called pae that morgan stanley just downgraded this morning, to equal weight today, due both to its exposure to afghanistan, and iraq. back on august 7, the supplier of services to the state department told investors it wasn't concerned about the u.s. withdrawal from afghanistan when it came to pae 's bottom line. enter in kearney charlie pifer expected the u.s. embassy to rain open in kabul past the winddown. clearly things have changed

quite dramatically since then with the taliban's takeover of the country and big question marks floating over what happens next there. pae hitting a new 52 week low, at this hour down about 1.25%, to $6.59. we should look at shares of other major players in the defense industry and you saw sarge at the top of the show, our floor show trader saying he be buying at this point, he certainly is waiting for an entry point at the moment lockheed martin is up three- quarters of a percent, ray theon down 1% as well. breaking news, the pentagon giving us an update moments ago on the situation in afghanistan, after at least 12 u.s. service members that be 11 marines and a navy medic is one confirmed dead, 15 other americans wounded following two deadly suicide bombings outside the kabul airport isis is regional affiliate has now been blamed for the attack. the u.s. had been warning right up until the moment of the bombings of credible threats in the area and warned americans

to stay away and if they were in the area to leave these blasts come as the u.s. and other western countries race to evacuate tens of thousands of people ahead of president biden 's august 31 withdrawal deadline. let's get to hillary vaughn who joins us now from the white house where the president will be speaking what, 5 p.m. eastern , hillary? reporter: 5 p.m. liz and that is brand new just moments ago. liz: okay, we lost hillary but again she was just indicating hillary, you back? reporter: yes, i am here. lightning must have had some issues but we can now report that the president will be addressing the american people at 5 p.m., this will be the first time that we have heard from anyone at the white house since we did get confirmation that at least 12 u.s. military members were killed in that attack, in kabul.

we also just wrapped up a briefing with the pentagon where we heard from general kenneth mckenzie the head of u.s. central command and gave more information about those two suicide bombings that were carr ied out. he says those attacks can be attributed to isis. >> if we can find whose associated with this , we will go after them. we've been clear all along that we're going to retain the right to operate against isis and afghanistan, and we are working very hard right now to determine attribution to determine whose associated with this cowardly attack and prepared to take action against them. reporter: he also described the circumstances of this attack , liz. he says that these, the suicide bombers were essentially able to get into the inner ring. they were supposed to be vetted by the taliban that controls everything essentially outside the airport. once they get into that inner ring in the airport that's when u.s. forces come into play, so this suicide bomber got through, the taliban's vetting process but mckenzie is saying today

they do not believe that the taliban intentionally let this attacker in, but ultimately , it did end up killing those 12 military, 12 u.s. military troops but we do know that still ongoing, there is considerable ongoing high alert of a threat. we did hear from general mckenzie say that the threat of another suicide bombing is very high. he mentioned that there are active threats still ongoing right now against the kabul airport and they're hearing reports or getting intel it could be rockets, it could be car bombs, but ultimately, we did hear strong language from the president 10 days ago, liz. he said if anyone in the taliban takes any action against u.s. forces, prevents anyone from getting into the airport or harms anyone on their way into the airport, that he would take very strong action. the taliban has, of course

distanced themselves from any involvement. we now know that isis is to be believed to be behind this , but we will be paying attention very closely what president biden says at 5 p.m. today. liz? liz: yeah, absolutely. hillary, we need you and the crew to get back into the press briefing room, because it's getting wild there, we can see. thank you very much for that report. reporter: thank you. liz: folks we have a very busy after the bell earnings session. here is what's coming up, gap, inc. sliding ahead of its report due to overhang from abercrombie 's quarterly sales miss but the old navy parent looking to up its online game with the purchase of e-commerce startup draper which helped shoppers view clothing choices on 3d avatars. news not doing much to shares now, peloton also on deck after the bell, shares back pedaling at this hour, but had been moving higher this morning as investors awaited word on

what kind of hit the fitness maker might have taken from the treadmill recall and also outlook for the release of its upcoming less expensive safety enhanced tread model which goes on sale next tuesday, pulling back by 1.25% and bringing up the rear for big tech dell, hewlett packard, vmware and workday all on tap for their quarterly check-ins, shares mostly flat to slightly higher this morning except for hewlett packard falling about 1% at the moment. three-quarters of a percent let's call it ahead of all of the earnings action. can we look at crude oil? crude oil has been up 10% in the past three sessions. its massive runway, big oil, the names that are part of big oil, are still lagging which makes it according to our count douse closer, prime to pump your portfolio. her top pick is next in the energy space, closing bell ringing in about 12 minutes, dow is still down 175 point, doesn't look like any records today.

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liz: remembers of congress calling on the biden administration to declare a drought emergency in much of the midwest and the west, as extreme conditions take a toll on america's bread basket. we are getting reports this is tough, that farmers are selling their cattle before they starve to death because there is no livestock feed available, and what about the cash craps that feed america? grady trimble joins us live on exactly how this climate crisis in the midwest could hit your wallet and investments like stocks that are dealing in agriculture. grady? reporter: liz just to set the scene where we are, this area of northern illinois was hit by a wind storm last

week and it literally flattened acres of corn in this area as well as parts of iowa. this is a problem you can see the drought is another problem that you can't necessarily see , but this area of illinois is in a severe drought. if you go farther west into idaho and the dakotas they are in even worse droughts in those areas and it's spelling big troubles for farmers all across the country, all across the midwest and american west including mark tuttl. , after what you thought be a decent year. >> we just kind of had a lot of dryness all through the summer, and we just had just enough to keep us going and we thought we would have a pretty decent crop for the weather and a year and a day we got hit and it just pretty well leveled stuff here. reporter: if you go farther out west, spring wheat more than half of it is in very poor or poor condition. same with barley, this is all stuff that's used in the food that we eat, so i would imagine whether it's direct or in direct, it's going to hit consumer's wallets.

>> it will. you'll see it in the wheat prices affecting bread almost immediately. wheat has gone up there's a shortage of that, so that'll catch the consumer right away, but corn, our corn goes for ethanol or hog and cattle field or export so those three and it has to be bid for it so you'll see the price of ethanol go up in gasoline or see it at the counter for food and meat will go up. reporter: not what people want to hear when they are already dealing with inflation. how much would you expect it to go up because of the lack of supply from america's farmers? >> well to the consumer it'll be pennies on the dollar but to the american farmer it's dollars per acre. reporter: of course liz even for the consumer at the grocery store at the gas pump all of that along with the inflation we've been talking about quite a bit lately, it adds up, and it's just tough times to be a farmer, and could be tough times at the grocery store, the gas pump as well. liz? liz: yeah. indeed. grady trimble, thank you very much. oil rebounding in the recovery

up over 40% year-to-date and our countdown closer has one major energy name for your portfolio that she says will benefit from this gusher, courtney dominguez, senior wealth advisor payne pes capital management joins us, you like the top integrated oil name , what is it? >> yeah, i think energy in general, to your point, is a really good play here, because when you look at crude oil prices are up significantly this year, up about 40% for the year; however a lot of energy stocks are up about 30% so there is a discrepancy there and that's why i like exxon. you think it's a good pure way to play the energy space here, and it trades very cheaply right now, trades about 13 times forward earnings and pays a good dividend so it's a good way to play not only this discrepancy in the price of oil versus the energy space, but also, we're seeing production is slowing down and demand is increasing and i think all of these things together just will

very likely lead to further gains. liz: you're also picking the automakers as two of your favorite names, let's talk about ford and general motors and what your plan is because we are expecting real problems to kick into even higher gear, with the supply chain issues and the chip shortage. >> and that's actually exactly why i think the auto space looks attractive here is because they are seeing shortage which means that we're likely going to see less cars being sold but increased prices as we go forward, because there is still very much a demand. you're seeing prices of cars are very much increasing even used cars are increasing because the demand is out there but there's not enough supply and will likely continue the way the auto industry is talking, will probably early to mid next year so that could very well lead to again further price increases and i think ford charles: courtney, we were expecting a possible 52 s&p record close today .

longer term the federal reserve has the real muscle to guide these markets. jackson hole tonight kicks off. everybody is waiting for jay powell's speech. top central banker is what everyone is waiting for. have you put any rings around your clients portfolios ahead of this? >> i think you want to look longer term for this. the markets are very much anticipating what the fed is going to be saying tomorrow. realistically we'll likely see they are decreasing the asset purchases and likely will go up at some point in time. you want to make sure you have inflation hedges in your portfolio. if the fed changes the stance

where they are now because the economy is on strong enough footing to ultimately support. is good for the markets. liz: job are up. up for the first time in five weeks. in major high gear. they are supplying booster shots. what hit to the economy do you see the delta variant showing? gdp revision number was not that bad? >> arguably that is the biggest risk to the markets right now, the economy slowing down, people can't get out and about with the delta variant. i'm not of the mind set right now i think it is huge concern for the market. i would say it is more a health crisis than it is a financial crisis. you are seeing that even though cases have been rising the economy and markets continue to improve despite that.

as we've seen with covid, it is big black swan events, something we never seen before. that will spook the stock markets. at this point covid is not something new. a lot of businesses and consumers learned how to deal with it, even if the waive increases we're masking up. people are figuring out how to get out and about. i don't think it will have a big impact we saw last year by any means. liz: you have got the gdp for the second quarter, 6.6%. i do need to ask you your thought on tech before we go. the argument, tech is in everything. you just can't go wrong. do you believe that? >> i don't think tech is going anywhere. it is getting very expensive. i think when you're adding new money to the market you need to be strategic where you place your money and a lot of investors have been focusing back into tech the last couple months. i would argue looking at things like cyclicals and financials are a good example of that. it could be a better value as we look into a improving economy. liz: courtney dominguez of payne

capital. great to have you. folks we're heading down to lows of the session for the dow jones industrials, down 193. nasdaq down 95. the earlier low was a loss of 100. [closing bell rings] on the global drama unfolding on the deadly terror attacks in afghanistan which snapped the markets winning streak. that will do it for "the claman countdown." larry kudlow will be all over the story. so don't move. ♪ david: welcome to "kudlow." i'm david asman in for larry kudlow. very tough day, ladies and gentlemen. terror in afghanistan claiming american lives after 18 months without a single u.s. combat death in afghanistan. explosions at the chaotic center of the withdrawal at kabul airport resulting in the death of at least 11 u.s. marines and a dave corpsman. diseases more with injured.