salesforce is in our 12 best ideas portfolio and a number of ore names like adobe, like service now and like microsoft. so we like the players in the cloud, the pipes and the wiring that a runs the cloud. lauren: i love that we ended by agreeing. nancy and mike, thank you for the time. that does it for me. cheryl casone's in for liz claman today. take us through the interesting hour of trading. cheryl: interesting discussion, lauren, because we're going to dig into that spac bubble with all of that money coming out of that market. lauren, thank you. the dow can has snapped a three-day losing streak as the s&p 500 and the nasdaq continue their record runs. as you can see, the dow is up by 97, s&p is up almost 9 points. we can be in record territory if that sticks. the nasdaq up right now more than 16 points. the nasdaq looking for two straight closes at-time highs. -- all-time highs.

any number in the positive will do it. deadly damage inflicts on the northeast overnight by the remnants of hurricane ida slamming new york and new jersey with destructive force. at least 23 dead at this hour, search and rescue missions continue this afternoon. we will update the numbers throughout the show for you. and all of this is happening as on the gulf coast residents and businesses struggling to recover from ida's original impact. we're going to get you up to the minute details on ida's carnage, and we're going to go live back to louisiana to see where the recovery is right now. plus, warning that the broken covid supply chain could choke off profits in the second half. it ceo is here to tell us how it plans to get its products to store shelves, maybe that interview can turn that stock around. we shall see. and get this, a-rod walked away there from a spac deal as the 2021 spac pa lose saw may have

hit its peak what the pros are saying. we've got a look at the state of spacs. ♪ and we've got this right now, it is a big week for jobs, and all eyes are going to be on tomorrow's august employment report. we've been getting some data to chew on kind of leading up to this from adp. so the number of initial claims filed for benefits, it was a new pandemic low. layoffs dropped to their lowest level in more than 24 years last month, really a had no bearing on august's employment report which comes out friday morning. so all of this is kind of the trend with these numbers where initial has been fairly decent. the economy is predicted to have added 750,000 new non-farm jobs. the unemployment rate is anticipated to fall .2 percentage points down to 5.2% from 5.4%. this as another report showed us private payrolls jumped by only 374,000 in august.

that was that adp number on wednesday, that was less than half the expectations. markets doesn't flinch at the time. what say our experts right now? let's get to our floor show. we've got the great scott9s today -- scott z today, scott shellady and scott pullman. what do you think's going to happen, guys? scott shellady? i see ya, i don't hear ya -- >> oh, sorry. well, it's hard when it's two scotts. look -- [laughter] we had that adp number last month we missed by about the same, again, 50%, as we did this one. but we crushed the non-farm number last month. so i, you know, i don't think that the economy is ripping our face off like everybody says it should or is. i think that there is definitely some fits and starts because of the supply chains and those types of things are are slowing things down. we can't get the right help.

there's always covid concerns. so i don't think we're running ahead like we ought to be. i would have thought we'd be doing much better with the vaccines by now. having crushed the last non-farm number but having now two adp numbers badly missing, i think we're probably going to be a little bit light tomorrow. not that i want that to be the case, but again, 750's a pretty heavy number to try to get over. i know last month was an 850 and we did a 943, that doesn't mean we can't beat it, but adp is telling me something that i kind of feel. we missed on our gdp number the last r time, we've had some lukewarm economic numbers come through. there have been some ones that have been good but not as many that have been lukewarm or even bad. so i'm going to say we're going to be a little light, probably 700 to 650, and i think that's because we have to kind of come back in line with what the adp number's been telling us and, b, what my gut's telling me with

the numbers we're seeing from the government and the department of statistics. cheryl: going back to the july number, we had a week -- weak number and then on friday you had a huge jump in the july unemployment report. it was of a good prediction, and we haven't seen that. that's been kind of a split, a diversion, if you will, between these two reports. what is your take on that? i also want to get your take on what you think the fed might be because there's a lot of talk about tapering in october, maybe it's december, and jerome powell has said he's going to be really looking at this number tomorrow to decide what they're going to do. >> well, this number becomes very important for a couple of reasons. first of all, we are seeing some of the logistics companies hiring people, trying to get the supply chain going even though we still have bottlenecks coming out from china and from other countries. but the fact they are trying, we are seeing them hiring truckers, and that's a good thing.

also we're heading into back to school season, and a lot of people are going back, and i think that's part of what you're going to see. universities have to bring people back last month, and i think that that's going to add. so we're basically in that 750,000 camp right now. and we think that it's going to be strong and an indication that the economy's trying to expand. now, going forward, big question marks, variants out there. but, again, there's also one other point to make with this. we're getting to the end of all this extra supplemental government unemployment insurance, and people have the get back to work. they're not going to be able to sustain hanging out after the end of september. so we think that they're actively looking now, and we we think that that's going to also help in the employment situation report tomorrow. cheryl: i'm glad you brought that up, scott pullman, and i'm going to to move the scott shellady now, but those benefits for gig workers, the extra $300

still getting filtered out in 21 is states, than's next week. i'm glad you brought that up, because i think that's going to change the dynamics in general. scott shellady, we saw oil go finally above $70 per barrel, and we've been pushing that level. did it today early on. where are we going now? if because it seems to me that the global supplies are actually -- i think the peak in global demand is actually picking up. >> well, you'd like to see that. that's one of my go tos in the morning, i look at that oil price. but i still think between 70-75 there's going to be a lot of room there that it's going to be difficult to get through that level. i still think that even though i totally agree with scott, what he said about getting back to school and a lot of folks getting back to work, i just think that something's up. adp coming in twice 50 of what was expected -- 50% of what was expected and myself seeing what i see out there, we're just not running at the pace that i would

like to see. and then take that one step further, you know, i think the fed sits on their hands especially if this number's below, say, 700. they're going to take a look at this, and they're going to make sure that things are too hot when they raise rates rather than raise rates because they're too hot because, again, the only thing that really stops these markets is the fed. so i think that they're going to probably,ing if we do get a worse number than we like, they're going to sit on their hands for longer, the market will probably like that. i don't want that to be the case. i want with it to be 850. i'm not trying to be a debbie downer here. however, something's up, and adp is telling me what my gut's feeling, that we're not doing as well as i think we should be. maybe it's covid fatigue, maybe it's the stimulus running out, but something's up because adp now twice in a row 50% of what they forecast. -- cheryl: no, no, tomorrow's going to be a big day, but with we've still got to get through the next 52 minuteses. thanks, guys, to both of you. >> thank you.

cheryl all right. we want to take you and look at these live pictures. this is the pentagon press briefing, general todd walters speaking right now. and, really, this is the second day of taliban rule in afghanistan as the u.s. is working as hard as it can to vet the thousands of refugees as quickly as they can. to fox business newsroom, find connell mcshane. he, of course, has been following all of in this, and there's been a lot of back and forth already. >> reporter: there has been. general walters, who you referenced on screen there, alongside john kirby in the room at the pentagon. general walters, the commander of the u.s.-european command. yeah, the refugees is a big part of it. what came up yesterday at the briefing, will the u.s. end up working in some ways with taliban fighters, you know, who have been sworn enemies for nearly 20 years, chairman mark milley, the chairman of the joint chiefs saying it's, quote, possible the u.s. might work with the taliban to take down a

common enmy in isis-k. and then the -- enemy in isis-k, and then the white house press secretary adding to that moments ago. >> we'll stay in close coordination with the international community on any steps that we take moving forward. now at the same time, we also want to make sure there is humanitarian assistance and other assistance to the afghan people to keep them afloat. >> reporter: we've been looking closely at that vetting process for afghan refugees and, indeed, it did come up as the first question at the briefing. with now over 30,000 having arrived here in the united states, the white house insisting that the vetting process has been thorough while some republican members of kong are starting to raise questions. one congressman visited fort mccoy where he alleges unvetted afghans have been waved through. >> and remember, it can take over a year to do an siv vetting process, and it's clear that it's being circumvented at this point, and it's kind of the

ready, fire, aim mold that the biden administration has been in. >> reporter: 31,000 refugees in country, 14 % of them are u.s. citizen. the vast majority, 77%, are said to be at risk. holders of special immigrant visas and the families of those people as well. so we'll continue, cheryl, to watch this briefing as it continues at the pentagon, some of the defense stocks moving higher along with the market in afternoon trade. back to you. cheryl: all right. connell mcshane live from the newsroom, thank you very much. well, 5 below living up to its name today, disappointing revenue figures and lack of guidance from the discount retailer. look at five below, stock is down more than 12.5%. and a warning from land's end weighing on its stock today. where the stock stands right now in the final hour of trade.

land's end's ceo on what the retailer is doing to fight back against covid supply chain country of. s. as we go to break, you can see the dow is up by 82 points, nasdaq and s&p still strong. we may have record closes for both those indexes today. we'll be right back. ♪ ♪ if let's go walter! after you. walter, twelve o' clock. get em boy! [cows mooing] that is incredible. it's the multi-flex tailgate. it can be a step, it can even become a workspace.

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xfinity makes moving easy. go online to transfer your services in about a minute. get started today. cheryl: breaking news right now for you. the white house, you're looking at live pictures, of course, this is dr. anthony fauci as part of this entire covid briefing that white house press secretary jen psaki begun just a few moments ago. the news so far right now, a $3 billion investment for the vaccine supply chain is going to be released in the coming weeks. that was the headline here of this this briefing. this as the daily average of covid-related deaths has increased to 953. and as the virus raises uncertainty for companies bringing workers back and, of course, many companies as we have seen have delayed that return to office because of worries of the delta variant. the cdc also saying 1.15 million have received an additional covid dose, that booster shot,

if you will. the nation's most vulnerable are now getting the boosters. any more headlines that come out of this briefing, we're going to bring to you, of course. one company has benefited from the work from home trend. that's land's end. they sell casual comfort clothing. they're now positioning themselves for the return to office as well. they think the demand will be there. the retailer beating on both the top and the bottom line in the fiscal first quarter, but on the street profit margins would moderate in the back half of the fiscal year. stock is down almost 6.5%. joining us now on that warning and the all the-important shopping seen, ceo -- shopping season, ceo jerome griffin. they're going to be putting more money, $3 billion, into the vaccine supply chain, try to get the pandemic under control. that return to office, not to be crass, is that good or bad for your company? >> what we've been seeing is people have found a new freedom

by being able to work from home and showing that they actually can be not just as productive, but even more productive from remote working. so what we've seen from most companies going back to the office so far is it's really a hybrid model. could be one week a month, two or three days during the week, but we think that the consumer has found that they like being casual, they like the comfort that they have, they like not commuting, and they're just as effective in working on teams or on zoom and working with colleagues remotely. cheryl: i want to get to some of the things that wall street analysts picked up on your call-in, particularly concerns about the supply chain and kind of that warning and the guidance that you were giving to the street. the stock's been selling off today. do you think that your comments were misinterpret by any chance, or do you think that this is just, you know, the cost of doing business and having to be honest with the street? >> well, you know, the headline was we had a record second quarter revenue beat, the

largest second quarter revenue we've had in the hues i of the company -- history of the company in 58 years. so that wasn't exactly picked up on, it's what we look like in the back part of the year. while we didn't change guidance, we said there's real issues in the supply chain right now. you have factories that have goods that are waiting to get picked up and can't get space in containers, they can't get the containers on ships, can't get the ships in the harbor because of a mental multitude of reasona lot of it is covid-relates whether it be backlog or not being able to get enough workers in the docks, driving trucks, getting the goods from point a to point b. so there is some real risk in the back part of the year. now, having said that, we still see really great demand numbers online, we still see increases over the last year with people shopping on line, and we think that there's the possibility to have a great christmas season. but you have real issues particularly right now in

vietnam, which has been closed since middle july and won't reopen again until middle september, and there's no visibility to what's going on there. cheryl: because of covid, do you mean, or because of the shipping situation? >> because of covid. cheryl: okay. 95% of transactions, you mentioned, on line, are online for land's end. you've got a partnership with amazon, with kohl's', and you're also making flight uniforms for, i believe, american airlines and delta. in all of that, what is the strongest piece of the business right now, and how does that transfer into the holiday season? >> the real strength of the business is our direct to consumer e-commerce business both domestically and internationally. that's the lion's share of dollars and profitability. and we've seen no slowdown in people converting from bricks and mortar coming into online shopping and liking the convenience. what we also saw in the past quarter is a good uptick in

travel, particularly domestically, with airlines. the airlines are starting to hire people again, so they're look for uniforms, and kids are going back to school. and we're back to right around 2019 levels on our school uniform business. so things are generally picking up across all of our sectors of business, but the real strength has really been our direct to consumer e-commerce. cheryl: tomorrow morning we're going to get that august jobs reports, and those extra that unemployment benefits are going to be ending. a lot of focus on labor shortage across this country. has that been an issue for land's end? >> absolutely. i think whether it's a restaurant, a store, a corporate business trying to get enough people to work has been an issue. we have been able to struggle through with the back the school time period where we're monogramming lots of uniforms and hemming lots of pants, but, you know, our big time of the year is really november/december. we have big hiring goals as we

do every year. i know we'll muddle through, and it'll get done, because each year there's always interesting issues that you have to overcome, and we've been able to hit all of our hiring goals the past several years. but it's, again, very difficult this year. and i think with the stimulus checks running out, hopefully, we get a lot of people really looking for employment. cheryl: that'll be next week. you'll have to come back and give us an update. jerome gary it, ceo -- griffith, ceo of land's 'em, thank you. >> thank you. cheryl: we continue to monitor what's going on with the remnants of ida, turning deadly in the northeast overnight. historic flooding, a lot of folks caught off guard as those who bore the brunt of ida's wrath in the gulf continue to dig out. but will ida's impact have the same lasting -- as katrina did? we're going to see what we can predict. we're headed back to the bayou

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cheryl: a fox business alert for you, virgin galactic getting grounded in today's pop stocks. sir richard branson's pace tourism company had been flying high most of the day on plans for its next space flight slated for later this month or early october, but the faa bringing down the hammer in the last hour, announcing it is barring virgin galactic from flying its spateship unity 2 -- spaceship unity 2 rocket until the company does an investigation into the dee -- deviation in the landing of the space flight last month, you know, the one we all watched on television? virgin dwhrak tick coming many for a pretty hard landing right now, and there is that video. that's the space flight that i'm talking about. anyway, that stock has taken a

bit of a hit today, and as you can see it's down still. that was kind of off session lows but till down about 2.25%. now, the sky's a little brighter for bitcoin today. the crypto climbing above the 50,000 mark earlier today, and though it's lost a little steam, bitcoin is actually still up, there's bitcoin right there and some of our cryptos, 39,395. -- 49,395. it's been there for the last few sessions. litecoin can, also, as you can see here moving higher. ether he's pulling back slightly. now, crypto miners buzzing on bitcoin's bounce and easter ether's recent rally. blockchain, as you can see, there's a jump there of 2.75%. marathon digital seeing the biggest gains, up about 3% right now as you can see on your

screen. also getting in on the crypto comeback, trading platform coinbase up nearly 4% of session highs, right now if we can pull up coinbase, one of -- we're not going to have that chart, we'll see if we can get that to you later. anyway, this is kind of a -- crypto industry innovators etf. it holds nearly all the names we've mentioned, okay in it's playing harder. if you want to play the spreads, there's a thought for you, everybody. as you can see, coinbase is higher and that etf, taking a look at it, up more than 2%. all right, let's move to something else. hormel getting spammed into the close today. you like my joke? the packaged food giant slumping to the bottom of the s&p after warning that hire costs would cut into its full-year results. the spam and skippy parent hoping that price hikes on its products are are going to help cushion the blows of those

rising costs. this is the inflation story, folks, we talk about it all the time. hour tell is down about 4.75%. and finally, for all you animal lovers, chewy shares in the doghouse right now. so stock is down almost 9%. pet products retailer sinking after missing estimates for both second quarter profits and revenue as well as third quarter or forecast. and and as you can see, there is the stock under pressure right now. all right. gas stations on the oil-rich gulf coast falling short due to hurricane ida. we're going to go to new orleans for a live report of the recovery effort there. still underway. people still trying to find dry ground and get the power back on. grady trimble to's going to be joining us in a few moments. taking a look at your markets, because we're looking at possibly a couple record highs here. dow is up 72. it'd be nice to see a gain for the dow today. the s&p and the nasdaq at this point they're on track for some new record highs.

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♪ cheryl: so this, take a look, this is the city of new york city last night. tropical storm ida smashing through the northeast, literally flooding subways here in the city, ripping down power lines, idling public transportation throughout new york. i mean, we're talking floods on trains, on streets. at this point we know of at least 25 people dead in this area. there's still a lot of search and rescue happening in the tristate. but while the remnants of ida have blown out to sea, new orleans is still in the thick of recovery efforts. nearly a million homes and businesses still without power down there. the last number i saw was about 900,000 without power. fuel supplies are dwindling, that is spiking gas prices. we're seeing lines up to a mile long. grady trimble joins us live from

just outside of new orleans, and, grady, i heard you say this earlier, here you are in oil production territory -- that is, louisiana9 and the gulf coast -- and no one can get gas. it's really sad. >> reporter: cheryl, part, this part of the country produces one-fifth of the oil and gas for the rest of the country, and yet they're dealing with a fuel shortage here x this is what a fuel shortage looks like no matter where it is. long lines as far as the eye can see. there's a gas station on the other side of the road there, people have been lining up since as early as 2:00 this morning when they heard that station had a gas. then a little bit later in the day this gas station had a tanker truck fill it up, and then the lines started here. according to gasbuddy, more than 60% of all gas stations in new orleans and baton rouge are still without fuel today and, hence, the lines. governor john bel edwards says

that's hampering the recovery efforts here in new orleans and the state of louisiana as they try to get supplies here as quickly as possible. the president spoke to the fuel shortage today, and he says that they are trying to get petroleum here by waiving truck driver hour restrictions. they can't drive beyond a certain point. they're trying the waive those restrictions so they can get food, fuel and other supplies to this area. they're also using the strategic petroleum reserve to try to get fuel to pumps as quickly as possible. this comes, as you said, with about a million people still without power today. they're trying to use generators which require more fuel, they just can't get it. cheryl? >> reporter: grady trimble doing a great job down there outside of new orleans. grady, thank you very much for that live report on the ground. and let's stay with this topic right now because just as fuel and gas supplies dwinld canning in the aftermath of hurricane

ida, what does the long road the recover look like for businesses, for families, and what does that mean for what was a red hot housing market in that area, and you had seen commercial real estate really begin to rebound, especially in greater new orleans? corporate realty president michael siegel who joins us live from alabama after he evacuated and, obviously, we're happy to see that you and your family are safe. you know, it's interesting because we saw what happened with katrina and the housing price jumped there, you saw 17% initially. but it wiped out half of the housing availability of the greater new orleans area. that was katrina. any sense of what ida is going to mean now for this market? >> i think it's a little too early to predict with any absolute certainty what'll happen, but ida was not a katrina event. we were lucky, people west of us

were not so lucky. i think notwithstanding our lack of energy which they've done a yeoman's job of getting it back over the last three or four days, you know, i think a week from now you'll see significant recovery in new orleans. and i think, you know, you said we had a red hot residential real estate market and a strong commercial market, i think that'll continue. i think, you know, again, i'm not minimizing the damage that ida did and the people that lost homes and roofs and businesses. but it's not a katrina event. i think we'll recover a lot quicker and get back to a robust commercial and residential market that we had. cheryl: what we've seen so far is that the people of new orleans and the greater louisiana area are resilient, and they will build back. they go through hurricanes every year, i understand that. i was looking at some of the numbers, and 17% of homes were

selling above listing, multiple offers. so, obviously, people rebuild. the president was very clear today that insurance companies need to step up and be there for homeownerrings. i want the bring up something else with you. we were looking at pictures yesterday on the show of the galleria, that was manager that you were a part of. you were on the commercial property, you know, side. you probably are have already seen these pictures of all these blown-out windows at the galleria. >> yes. cheryl: talk to us about your thoughts and the destruction you've seen on the commercial side. >> it's disappointing, it's depressing, it's daunting, but, you know, the major buildings like the galleria and the owners of galleria are also resilient and well insured, and i think they'll come back and rebuild. and, you know, i don't want to, again, minimize what happened or say that i don't have concerns, but i think if we had this same interview two weeks from now,

you'll see a city in full recovery. it's just not a katrina event where the water came in and sat there in the entire city and it took four months just to dig out from under it. if we did not have the power issue, i think the saints would be plague football in the super -- playing football in the super dome monday night. cheryl: well, that's something else, between tulane, and i know you've worked with the nfl there. we've had the pandemic, obviously, new orleans and louisiana has dealt with the9 same thing that the nation has, you know, the pandemic and, obviously, businesses shut down. how is the business community doing overall in new orleans right now? before ida at least? >> i think the business community was doing well to very well. you know, i mean, everybody across the country not just new orleans and not just louisiana is still dealing with covid.

and we are such a hospitality and tourism-related city, it certainly did a number on us. but since, i guess, march of this year you had seen a marked improvement in all the commercial sectors around new orleans if, the hospitality sector, the restaurant sector, concerts were coming back, the french quarter and the fourth phase of covid. that's not the case anymore. but, you know, that's -- we are resilient. the city's resilient and the country's resilient, and this is just like, you know, something else to deal with. again, i don't want the keep saying i'm minimizing it, but we're going to get past it, and i'm from, you know, bringing it a back to what you really asked me about on the commercial real estate side, i don't think it will change the momentum in the long run at all.

i think we a had a fairly robust commercial sector. interest rates help. people's desire to be in new orleans is as strong as it's ever been. and, you know, this is just a setback but not a katrina event. cheryl: michael siegel, we appreciate your time today. i do hope you are able to go home soon. >> looking forward to it. thank you. good luck to you guys. cheryl: all right. thank you, sir. well, we're going to move over to something else. it's kind of a hot topic today. well, it is a hot topic today. former baseball superstar alex rodriguez hits a snag in his bid to merge his spac, but he's not the only one having trouble. is the 2021 spac craze cooling off or maybe just getting started? i'm going to ask that question to isabelle free da coming up next. close eye on the markets, as you can see, the dow is up at this point by 65 points.

we're looking for new records on the s&p and the nasdaq. we only need 4 points from the s&p, so i'm going to think positive. we'll be right back. ♪♪ t. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast. if i could, i'd ten-x everything. like a coffee run... or fedora shopping. talk to your broker. ten-x does the same thing, - but with buildings. - so no more waiting. sfx: ding! see how easy...? don't just sell it. ten-x it.

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♪ cheryl: charge point making an electrifying move into the close. the ev charging titan surging after raising its full-year guidance fueled by better than expected sales results in the last quarter. the owner of one of the world's largest networks of independently-own oned ev charging stations which, by the way, went public via spac earlier this year, right now as you can see it's higher by 8% in these last 12 minutes of trading on this thursday. let's stay on this topic. alex rodriguez telling sports

card maker panini, you're out. the blank check company ending spac merger talks after the company lost exclusive licenses related to the nfl expect nba. that deal would have been valued at about $3 billion. now, just like 2020, spac have been one of the biggest stories on wall street this year. 431 ipo filed this year, several of which belong to our next guest n. if a fox business exclusive, we welcome in athena acquisitions technology corp. founder isabelle freed heym. so much to talk with you about but, first, i've not to get your reaction to the top story in the "wall street journal" today which is spacs z, and the deadline reads spac rout erases $75 billion in start-up value. and the journal seems to be pointing to the fact that the spac craze may be ending. what do you say? >> well, i wouldn't quite say that. in order to understand where we

are today, we need to take a step back and look at what happened in the last 18 months. there are currently over 400 spacs that were hunting for targets with close to 130 billion of spac capital. and typically, the spac capital represents an average of around a quarter of enterprise value. so that's capital looking to purchase in -- that's capital to purchase $500 billion worth of enterprise value. and this is 20 times higher than the historical average. you know, there are a few reasons why that happened. this is also the end of the market that we saw during the pandemic. there is a large number of tech company that are growing, covid that has accelerated, many of the existing digital trends, and conditions that create the ecosystem of the spac market that now recognize the attribute

ares of a spac versus an ipo, and the three most .being the price certainty of the valuation, the speed to market, it takes half the time to go public through a spac versus an ipo, and most importantly, the ability to use protections which is essential in understanding the value of a younger high-potential, high growth tech company. so where are we today? you'll hear a lot of people say that spacs are dead, the valuations were wrong, but blood alcohol that to be the headline. -- i don't believe that to be the headline. cheryl: you know, a couple of things that i think makes the average investor nervous about spacs, they're volatile. they are a little risky but, hey, without a little risk, you don't make money. that's the average person's thinking. and then you've got what bill ackman is going through right

now, he's got these lawsuits that have been filed, one of them says, basically, you know, they're challenging the fundamental structure of the spac. this is on the lawsuit side of it. so do you worry about that moving forward, that whether it's regulation or it's lawsuits, that you're going to have to -- it's going to be more difficult to get these ipos to market? >> i don't think it's going to be more difficult. i think regulations can be a good thing to the extent that disclosures are required. this is good for everyone. it's good for companies, it's good for spac buyers, it's really telling you what the rules of the game are so that i can play by the rules. and we're really looking at the spac market as a race risk-rewad situation. in the last couple of decades, all of the -- have been rewarded by venningingture capital, facebook, google, amazon. it's really the early stage investors. right now what we're seeing is

the large equity investors who missed out on that, and spacs enable those large public equity investors to create an allocation in their portfolios that will enable them to access much higher risk return -- cheryl: no, fascinating. isabelle, it is fascinating. before i let you go, i don't have a lot of time, i've got to ask you about what's going on with bill gates. you're taking his company, heel owe, you're involved, can you give us an update? >> yeah. we wanted to establish a valuation that was attractive to investors in the short term but take a company that has a path towards long-term success and leadership, and helio checks autothese boxes -- all these boxes. they know how to make money for investors in the sector. there's a supply and demand imbalance for technology and problems that are cost effective as it relates to how we consume

energy. that means cheaper, more reliable and those solutions that do not create the negative ecker thalties that we see associated with toes sell fuel. the world is dying for answers, and this is one of them. cheryl: isabelle, thank you for being here, appreciate your time. dow up 87, we will be right back. ♪ . .

as i observe investors balance risk and reward, i see one element securing portfolios, time after time.

gold. your strategic advantage. you packed a record 1.1 trillion transistors into this chip i invested in invesco qqq a fund that invests in the innovators of the nasdaq 100 like you become an agent of innovation with invesco qqq like you some days, you just don't have it. not my uncle, though. he's taking trulicity for his type 2 diabetes and now, he's really on his game. once-weekly trulicity lowers your a1c by helping your body release the insulin it's already making. most people reached an a1c under 7%. plus, trulicity can lower your risk of cardiovascular events. it can also help you lose up to 10 pounds. trulicity is for type 2 diabetes. it isn't for people with type 1 diabetes. it's not approved for use in children. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer, or have multiple endocrine neoplasia syndrome type 2.

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portfolio manager is here. i assume you like stocks too hot, not too cold? >> absolutely, we do. this is a market as you know rotating between growth and value for most of the year. some might think of it more of a seesaw. we believe in order to benefit from that kind of a market it is important in a portfolio to have secular growth stories, companies selling very attractive valuations benefiting from some more cyclical up swings we're seeing in the market. we are looking at companies with the best of both worlds within one wrapper. companies with growth and value at same time. cheryl: growth an revenue growth, i bring up this snyder national have largest electric truck fleet or will be by 2022. this is a big growth area, very

strong. >> we're bullish on the growth of electric vehicles overall in the country and the world solving real world problems. what we like about schneider they're already beating and raising. you mentioned strong earnings growth. we've seen extraordinary earnings growth overall. with estimates growing up in the future, they beat in the second quarter by 16 cents. they raised guidance by 25 cents. we're seeing continuing high demand, and as a result they have pricing power on top of that they are committed to transitioning their fleet to battery electric vehicles. as you mentioned they ordered 50 that they will deploy in the state of california. and they committed to, have i believe a 60% reduction in their emissions by the year 2045. that is meaningful. that will lead to great growth and better multiple. cheryl: only 10 seconds before the bell starts to ring. you're not worried about the chip shortage? >> we're concerned about the chip shortage. this is a temporary shortage. we'll work through this.

one of the things we think is very positive for the trip shortage as well as some supply chain challenges is that it will extend the growth runway into next-year higher than people expect. [closing bell rings] cheryl: thank you very much, nancy. we have record for s&p 500. nasdaq hitting another record as well. that is it for me. see you in the morning. ♪. larry: hello, everyone, welcome to "kudlow," i'm larry kudlow, good to be with you. you know, some days it really doesn't pay to read the newspapers. today, for example, i'm reading one of my favorites, "the new york post." now i started at the back where the sports section reported that garrett cole pitch ad fabulous seven innings. he struck out 15 and stopped the yanks four--game losing streak. i am as you know a