the richest person in the world right now is from louis vuitton. those stimi checks went straight to louis vuitton -- >> amen. [laughter] charles: eddie, thanks so much is, my man. you guys are two of the best. i don't know if we should feel guilty, but it has made us all richer. meanwhile, the market's a little sideways as i hand it over to cheryl casone. if. cheryl: we're definitely going to talk about that call from goldman sachs, charles, where they're talking about the fact that we are not going to get the growth that we thought in the fourth quarter. and you've got the nasdaq aiming for its fourth straight record close. the dow and the s&p looking at two straight sessions of losses, dow down 210, s&p down 8.5, but the nasdaq, we're higher by 30 points. and this split decision we're watching right now comes as president biden visits new york

and new jersey observing the deadly damage inflicted by tropical storm ida. the white house trying to refocus on its domestic agenda following the collapse of afghanistan and the withdrawal of u.s. troops. one company played a big role in the biggest airlift in history. we're going to talk to the ceo of eastern airlines about how his company helped evacuate stranded american citizens and u.s. allies. and as the debate over covid booster shots rises, we're going to talk to one of the stars of the netflix series pandemic. he's here to tell us how he sees all of this playing out. plus, we've got crypto history are being made as el salvador officially becomes the first country in the world to accept bitcoin as legal tender, and the contract's moving on that news. we're watching the news coming out of this area of the country right now. president biden just moments ago touring storm damage in new

jersey. 27 people died there. and then he's going to be going to new york. 13 lost their lives following catastrophic rainfall from tropical storm ida. this all, of course, happened at the end of last week. so far the president's focusing his message on climate change and speaking with some of the families that suffered devastating losses. the president meeting with new jersey governor phil murphy saying better rebuilding is needed to deal with future storms citing his $1 trillion infrastructure plan which, of course, is sitting in congress. joining us now live at the white house, edward lawrence. he's been monitoring the president's movements throughout the afternoon. >> reporter: yeah, cheryl, you talk about the new jersey governor, he actually asked the president face to face to increase that declaration he gave to more counties in new jersey. the white house saying they're amenable to doing that. the white house also this afternoon pushing a continuing resolution. they want congress to pass it. in that it's going to, one, have some money this there to make

sure the government doesn't just -- that critical need going, but extra money in order to pay for natural disasters in the past 18 months, we're talking about $26 billion. another $6.4 billion for afghanistan, specifically to help refugees that are coming to the united states. now, on the storm, accuweather estimates hurricane ida across the united states caused $95 billion in damage here. the president, though, making this trip clearly political. the president saying that damage like this is made worse by climate change. he says the reason that the federal government, this is the reason, actually, the federal government needs to spend more. listen. >> i think the country's finally acknowledged the fact that global warming is real, and it's moving at an incredible pace. we've got to do something about it. >> reporter: and this is a way for the white house to change the images from the pictures of afghanistan, or away from these

pictures here. six planes in that shot there, six planes from americans and american allies on the ground at a smaller airport in afghanistan. now, the taliban blocking the takeoff. the president took no questions today on what's happening inside afghanistan. retired general keith kellogg told us the leverage the administration keeps saying they have, they don't. >> when you talk about economic leverage, they're going to turn to people that we really don't get along with well, like the chinese right now. they do have a small border with the chinese. the russians are going to be more than happy to go in. the iranians are going to be more than happy to go in. so they're going to have the ability to use with money from other sources, and they don't need american money at all. >> reporter: and the president now is headed to queens, that's exactly what you're seeing in this shot there, waiting for marine one to take off. now n that continuing resolution the white house wants to see $6.4 billion for afghan refugees in part to pay for the screening process in a third-party country

like qatar before they come to the united states and also to help them resettle. right there, waiting for the president to take off for queens, new york, to look at the damage there. cheryl: well, and 13 people died in queens, a lot of them in illegal basement apartments, illegal apartments. we've got that live picture, of course, of marine one. and earlier the president was in new jersey, and he talked about climate change. a lot of questions about how much the president's willing to spend and what congress is willing to agree to when it comes to climate change whether it's $3.5 trillion in spending or at least a $1 trillion bipartisan infrastructure package. all of that laying on the floor of congress right now, no movement yet. we are, of course, going to be following the movements of president biden in the next hour as he meets with local officials and meets are more families devastated by the aftermath of ida. well, labor day marks the unofficial end of summer, but there's men on the docket that's

going to keep markets pretty hot. democrats are going to to be grappling with the september 30th deadline to avert a government shutdown while advancing infrastructure. there's a september 27th deadline for a vote, and you've got budget bills that are piling up to the tune of $3.5 trillion plus, to be honest with you. the next big event for stocks, that's going to be third quarter earnings season. that gets under way early october, right around the corner. predicting a 28.9 increase in third quarter results, that's a year-over-year number, remember this. all of this as goldman sachs is cutting its forecast for u.s. economic growth to 5.7% from 6%. they're citing the delta variant and fading fiscal stimulus. so what are investors bracing for for the indian summer? let's get to our floor show going. timothy anderson and scott shellady on standby here: scott, i want to go to you first on the

goldman call because there's a lot of discussion about this. the fact that they're saying not only are we going down to 5.7% for the year, but they've really cut the fourth quarter forecast for growth down to 4.6%. so i'm thinking here at least -- excuse me, to 5.5% in the fourth quarter. that was a big cut from earlier estimates, scott. they're talking about dell taxer lots of stimulus -- delta, and then you add in corporate earnings to all of this, what does this tell you? >> i think the market's telling us, for sure, that it looks not as rosy as when we began the year, right? we're going to have the vaccine, we're going to be pack stadiums, everybody's going to be excited. it hasn't been the case. it's benefits and starts. there have been some good times, but there's also been some bad times. we keep stopping when we think we've got everything taken care of, and that's going to be an

issue going forward whether it be supply chains, whether it be inflation, whether it be interest rates maybe rising, what the fed's going to do, and, hey, we wake up next spring and this administration's gotten through those spending packages, and we've got absolute record taxes on our hands. i think goldman sachs might be a little bit too far. we just missed our last gdp if number, so i think this is one of those things that the fed or the administration can screw up, and i think they're both going to give it a good shot. cheryl: for 2022 they're looking for 4.6% annual growth, i think that's a good call. tim, from morgan stanley this morning with regards to equities, they say the next two month period carries outsized risk to growth policy and the legislative agenda. >> well, look, there's no doubt that september has a history of being the worst performing month of the year for the stock market

where october always has a lot of volatility. a lot of times by the end of october the market has recovered. now, that being said is, the market has looked nearly invincible since the brief correction that we had in may. and sometimes when the market looks so invincible, it's time to take a little bit off the table. cheryl: you know, and also, scott, if you look at reading between the lines of these two massive reports that came from these banks today knowing everyone's basically back at work whether at home or in the office, scott, the concern here is even though you've got vaccinations rising, that with any new mask an mandates, lockdowns or partial lockdowns across the country if the delta variant does not get under control, scott, that is a consumer story. i'm not trying to be negative nancy after a three-day weekend, but these are real things that market participants have to look

at. >> right. and vaccine mandates. none of this stuff was thought about when we thought we were going to be all okay, everything's going to be back to normal and full steam ahead. that's not the case. again, i know some restaurants that are afraid of that mandate, because we might keep people away too as well as give people comfort. there's a lot of things to worry -- there's way more things to worry, but i won't probably climb this wall of worry and ultimately be okay because the u.s. economy is fairly resilient. but just remind ourselves that our average annual gdp of 2, 2.5%, we're going to get back there someday. and watching the administration and these interest rates, that might come sooner rather than later. that's the big worry. i think the market's starting to digest that. we haven't had a big pullback. everybody who would love to have a 5 or 10 percent, whatever you'd like, that's fine, but at the end of the day, i just don't

think we're going to be as great as everybody thinks we're going to be. cheryl and, tim, we've had this incredible runup for the past year and a half when it comes to the markets despite everything we've belt with as a nation. a small pullback, a small retreat in stocks would not be a bad thing. sometimes it's actually good for the markets. >> no p it certainly would not be, and, in fact, we had a little bit of a pullback in may, but the market has been very rotational. you have seen institutional investors continue to take some profits in the sectors that have had these 3-5 week hyperbolic moves to the upside like the semiconductors which may have reached the short-term top a month ago. that that's one sector i think maybe they will not be real close to run back into in a hurry, and i do think also that retail might be a concern when the extra $300 kicker of

unemployment insurance rolling off this month and the prospects of another stimulus plan if very well before the end of the year. even if those sectors are a little weak, the market can still grind its way through the end of the year without a sharp correction. but i'd be a little bit leery of the stocks that have had the biggest run. cheryl good point. tim anderson, scott shellady, gentlemen, thank you very much on this tuesday. well, pandemic fears weighing on market and medical experts. johns hopkins reporting that cases in the u.s. have risen 300% from the labor day holiday last year as the delta variant is burning through the united states. and this is happening as there's new confusion over booster shots which is asking questions on just how safe americans really are. here to help us make sense, star of the netflix documentary

pandemic, jacob glanville, he joins us next. take a look at the big board, again, pressure on the dow again on this tuesday. down 222 points. nasdaq on track for another record. "the claman countdown" is coming right back. ♪♪ flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. rush hour will never feel the same. experience thrilling performance containing this information. from our entire line of vehicles at the lexus golden opportunity sales event. lease the 2021 is 300 for $379 a month for 36 months. experience amazing at your lexus dealer.

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♪♪ >> fisa's gotten the information in, it's been examined and things look like they're ready to go. moderna might be a little bit behind that, and if they are, you might see rather than the simultaneous rolling out, you may have the sequential by about a week or two. cheryl: white house chief medical adviser, dr. anthony fauci, saying covid boosters from pfizer scheduled to begin rolling it out in two weeks and the proper immunization schedule may be, in fact, toledoses. early data from -- three doses. so are booster shots the answer to ending the global pandemic? if in a fox business exclusive, we welcome in jacob glanville,

one of the stars of the hit netflix series pandemic. it's great to have you here. what do you make of his comment? >> thanks for having me on. the data in israel and other areas of the world show that over time the vaccines wane in their level of protection. people still aren't getting as sick, but there are increases of infection. so booster shot, which have always been contemplated, are now being scheduled. we're still having to learn how often people need boosters as a function of their age, because elderly people got vaccines first x their immune systems might deteriorate farther faster than younger individuals'. but i think we're in a position to have booster shots to further enforce -- this is common among vaccines, so i think that is going to be part of the way the world moves forward to protect as many people as possible. cheryl: there's been confusion though about which shot people are going to get, because people who were getting -- at first it was pfizer. that was the first that got eua

authorization, obviously, emergency use. so if someone gets a pfizer shot, and that's more preif elect in the united states than moderna, does that mean they get a pfizer shot, and if they get it, you have to wait for a moderna shot in there were reports last week they were going to give you pfizer whether you had moderna or pfizer. can you clarify the confusion in all of this? >> sure. so the pfizer vaccine has just been approved. now, there have been many studies where people have tried mixing and matching partially because some countries just don't have receive enough, and those studies tend to suggest it's safe and sometimes beneficial. they aren't run the studies where they mixed and matched the vaccines like they have with the dedicated agents, but because it appears safe, it is possible that companies would come up with strategies as a function of the availability of the vaccine in terms of which booster you get next and that, little, is going to be decided by local

governments. cheryl: i also want to ask you about children. kids are going back to school in particular this week in a masks, so that 5-11 age range for kids, do you have any sense of when we're going to get, again, emergency use authorization? because we are seeing covid cases rise in schools. >> yeah. we're seeing those cases pretty much every school, you're starting to aerohear about cases popping up. there's a reason we test sort of children last, because they tented to not get as bad of an infection, so there seems to be a greater emphasis on safety. they've lowered the dose, younger children are getting a small doser. i don't know exactly when it'll be available, but that'll be relatively soon that they'll start rolling out for the category of individuals between 5-12. cheryl: mask mandates have been popping up in some portions of the country, but how effective are mask mandates, do you think,

at this point considering that the majority of americans have been vaccinated? >> yeah. so the problem is even though the majority have been vaccinated, you can still see with particularly the delta variant there continues to be outbreaks in even ways because this thing is so infectious. but masks do help. it's modest protection, but they do reduce transmission, so i think we are going to continue to see fluctuating mask mandates as a function of how bad outbreaks are in certain regions. we can see the balance between stimulating the economy and business versus shutdowns, and think we're going to continue that on a regional bay access. cheryl: already i let you go real quick, how worried are you about these new variants? lambda and move? >> the -- and mu. >> over time you get new variants that have better transmission properties. the vaccines still work, they have some reduced protection but

still some protection, but it would still be milder. that's going to keep happening. over time eventually we will have verses of variants that might escape the vaccine so much that they need to reform late, but at point they still work, and we should still get vaccinated. cheryl: good to hear. jacob glanville, thank you very much for joining us. >> thanks for having me on. cheryl: extended unemployment benefits coming to an end, but will it bring workers back to the office? we're going to talk to one business. let's take a look at the big board. a lot of pressure on the dow right now. a big part of this, by the way, is doing and the report in the journaling that there's going to be a delay in production. nasdaq, we may have another record on our hands. "claman countdown" coming right back.

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cheryl: a fox business alert for you, it is a new match for match group. many today's pop stocks the s&p 500 swiping right on the tinder parent. shares now set to make their entrance into the exclusive market club, investors clearly smitten with the news. as you can see is, match is up about 7.25% and change. rival bumble being rejected, that stock is down, as you can see is, more than 4%. from the digital dating scene to digital radio, spotify also feeling the love as key bank upgrades shares of the joe rogan podcaster to overweight as subscriber growth outpaces that of its competition. up more than 2.5%. ca knew also cruising in trading today on a new bullish call, a buy rating. the firm predicting coming power moves on market share growth for the electric minivan, delivery vehicle and pickup truck maker.

as you can see, canoo up almost 3.5% right now. and then toyota on the move on ambition, the automaker set to spend $9 billion on an ev battery plan as it aims to sell 2 million electric cars a year by 2030. ambitious plan, up more than 1 percent. evs the bright spot in the market today. tesla, fisker, lordstown, all part of that sector that continue to build and grow. and the china-based ev makers also in drive mode right now. xpeng seeing the biggest gains, moving higher by more than 5.5%. well, the national worker shortage continues to take a toll on businesses from coast to coast, but help is on the horizon for hiring managers. with extended unemployment

benefits now expired, many companies are ramping up incentives to attract applicants. but with the most recent jobs report falling flat, will incentives be enough? jeff flock joins me from broadview, illinois, with one company looking to get its hiring game moving. jeff. >> reporter: very good question, cheryl. i come to you from the warehouse of a company if called mini moves based here outside chicago but has 125 locations nationwide. as you can tell, moving, as perhaps you know, it's a very labor intensive business. machines don't wrap the couches up and don't unload the trucks. they've had a real problem finding people with these unemployment benefits extended in the way they are. are you hopeful, john, that it'll get better? >> yes, we are. hopeful -- it was a tough summer for our industry. struggles with, you know, labor. but we're very optimistic with the changes now occurring that with the pent-up demand, we

should have new employees, new help, new drivers to successfully bring us into -- >> reporter: i wanted to give you a couple numbers that maybe put you off a little bit. when we looked at job creation last week for last month, we thought we were going to get 700,000 plus jobs. we got closer to 200,000. you're worried? >> bit concerned about that. we're going to continue to strive though with incentives for our drivers and recruiting bonuses, etc., etc. so we feel pretty confident -- >> reporter: you're a company that sort of specializes in corporate relocations and that sort of thing. that had been a little bit on hold for a while -- >> it was. >> reporter: coming back strong now. you know, are you ready to hire? are you going? >> we're ready. we had a great summer with corporate, with the pent-up demand from 2020, now consumers were strong as well, so we think we're going to have a very good fall and winter. >> reporter: cheryl, a couple of numbers. we talked about the jobs report

last week, some industries actually lost jobs, restaurants, bars, retail lost jobs. and when "the wall street journal" actually analyzed the data of the stakes that, you know -- states that, you know, ended their jobs, unemployment compensation programs early, didn't see any difference. and are you worried that's going to happen -- >> a bit concerned. if that's the trend, we are concerned about that. very concerned. >> reporter: you hear concern, cheryl. these folks got a job. they're happy to be working. i'm happy to be working. john's happy to be working -- cheryl: yeah. jeff flock, that is very, very true. thank you, sir. jeff flock with that live report for us. good to see you. well, defense giant raytheon flipping today -- slipping today after "the wall street journal" reported that u.s. authorities are investigating whether the weapons maker may have paid $1.9 billion in bribes to a member of qatar's ruling family.

meanwhile, americans and u.s. allies still looking for safe passage out of afghanistan as the taliban takes over. coming up, we talk to one airline who joined the fight to bring our people home. as you can see right now, we've got pressure on the dow, dow is actually escalating a little bit with 29 minutes to go. we're down 251. the s&p lower as well. nasdaq still hanging on to gains. my gains on the nasdaq will be -- any gains on the nasdaq will be the 3w-6th record -- 36th record close on the year. we'll be right back. let's go walter! after you. walter, twelve o' clock. get em boy! [cows mooing]

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♪ cheryl: and some breaking news. just moments ago president joe biden arriving at laguardia airport in queens, new york. he is headed to a section of new york city that's likely queens that was devastated by tropical storm ida. he was earlier in new jersey meeting with governor mil -- phil murphy there and local

officials. he's going to make his way to his next spot right now. he's got the governor of new york, kathy hochul, as well as senator chuck schumer, and we do expect him to make remarks in the 4:00 hour. 13 dead in new york city, in queens, those illegal basement apartments that has become a big topic here in new york and, obviously, the more than 20 that were killed in new jersey as well. we're following that breaking news and all the president's movements. also this, new outrage over afghanistan. there is a report by the special inspector general for afghan reconstruction and the "wall street journal," by the way, they say that the estimated $145 billion, all that money that was put into infrastructure to aid the programs focused on rebuilding that country, the u.s. government has wasted over 2.4 billion on unused or abandoned equipment now left sitting in that embattled country which now, of course, is

controlled by the taliban. and the taliban, also we found this out today, has begun to select members for cabinet positions within its government as americans and u.s. allies are still scrambling to escape the group that is now running that country. let's bring in one of airlines aiding in those evacuation efforts, eastern airlines' ceo steve carston joins us now and your airline was part of evacuation of americans and our allies. take us behind the scenes. what was that experience like? >> it's been an incredible experience, and thanks for having me on your showed today. even before the activation of the stage one, eastern airlines had already gotten two missions under our belt taking evacuees out of the area back here to american soil, and so far we've carried over 2,000 evacuees. we have two airplanes airborne today doing the same thing. i can say our pilots and flight attendants have done an amazing job. you can imagine what the atmosphere was like in these airplanes with evacuees, many of

which had never seen the inside of an airplane, let alone been used to a western toilet or been in a car, even used a seat belt. so they've done an amazing job bringing these people home safely and bringing them to freedom. cheryl: you're not landing your aircraft in afghanistan, but i'm curious who you're working with. could you clarify that? >> sure. no, you're right, we have not been in afghanistan. the military has transport these evacuees to different staging areas in the region, and then the airlines in the civil reserve air fleet fly to these locations and bring evacuees either to dulles or to philadelphia. cheryl: so this is, obviously, a massive evacuation airport, but you're -- eastern airlines itself, the company which has been through many trans formations over the years is now getting into this heroic effort, you're going to get more and more into cargo. and as the pandemic has rolled

on, obviously, amazon, fedex can have become large companieds that, frankly -- companies that, frankly, americans have become dependent on. talk about the decision to expand into cargo. what was behind that choice? >> sure. that's a great question, and we're really bullish on our passenger business. we think we've got a great opportunity to carve out a niche. you might not know other than the big legacy carriers, eastern is the only airline in the united states that flies long range wide-body aircraft in scheduled service. so we think we've got a neat if opportunity to carve out a niche for ourself against the big with legacy carriers. but even from the beginning we felt cargo and freight was a great opportunity for us, and we had begun executing long before the pandemic. the pandemic has done a couple things that kind of fundamentally shifted the marketplace. people are buying more online.

you and i buy things online and get them delivered to our front doorstep that we probably a year or two ago probably would never have done. and then at the same time the air transportation system around the world has a really been drastically reduced. and a lot of the cargo that used to be carried around the world was carried in the belly of passenger aircraft and that capacity's gone. so we're really excited about the opportunity to carve out a little niche. we announced we purchased 35 boeing 777 air craft, but that's still a very small piece of a very large market. cheryl: well, you've got the 777. the big news for the market today is the boeing 787 and the delays in getting that aircraft back in the air. i want to to go back to these 777s because that energy that we had, that engine loss back in february on that boeing aircraft, that was a united story. are you buying those aircraft or are you buying other aircraft that have those pratt and whitney engines?

that's also another thorn in the side of boeing right now. >> it's true. we're confident that engine issue's going to be resolved. both boeing and pratt and whitney are working really hard on that. we purchased 35 aircraft from a couple different large airline fleets, and there's about 11 of those powered with that engine, but we're pretty confident that's going to get results soon. cheryl: anybody who holds stock is happy to hear you say that. >> i think it's a good hold. cheryl: please thank your pilots and flight attendants for all they're doing getting those evacuees to safer place, to a new life. steve, thank you. >> sure. they're doing a great job. thank you. cheryl: well, the u.s. dollar, folks, you know, the dollar, the one you've got in your wallet? not the only game in town anymore. bitcoin is now a full legal tender in el salvador. what does that mean for the crypto market? and as we go to the markets,

let's take a look at them right now. dow down 257. kind of an an escalation. s&p is lower, nasdaq could have another record. we shall see. we'll be right back. ♪ muck ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪

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♪ cheryl: marvel's newest hero flick super-powering stocks, raking in over $90 million in its box office premiere and accounting for nearly 70% of tickets that were sold over the long weekend. the disney movie breaking previous labor day box office records and also giving a boost to amc. more than 2 million movie goers packing the. chain theaters this weekend. amc right now, as you can see, up more than 7.25%.

cinemark higher and imax jumping more than 3%. be by the way, those last two posted their best september weekend numbers ever for their screens. the only way to watch the asian superhero flick is in theaters. it's not available on streaming. interesting choice considering the whole, you know, black widow lawsuit disney's dealing with. okay. we have got history made in crypto land today. el salvador becoming the first country to adopt bitcoin as legal tender. the president saying that the move will help save el salvadorans $400 million a year. this is a historic day, but it's not doing historic things for the price of bitcoin. right now we're at $46,000, almost 45,000, but it went above 52,000 last night. there's some volatility for you. joining us is krbe digital assets group cofounder isaiah

jackson. isaiah, you've got to help me understand all the volatility just from last night until today in bitcoin. is it because of el salvador or is something else going on? >> well, if i had a bitcoin for every time somebody brought up volatility? if you have a low-term preference, this means nothing. mcdonald's has started accepting bitcoin in el salvador. they've purchased 550 bitcoins for their reserves. all of these things happening and we're talking about the volatility of one day. we talk about the same thing and the price has tripled since then, so volatility is nothing on a long enough time frame. cheryl: i'm curious, do you think this is a good beta test for other countries? in particular, latin americans that could adopt bitcoin as

currency? >> absolutely. we're already seeing it. we saw today in panama they actually are approaching their congress for the same thing. paraguay, your guy, other -- uruguay can all join the bitcoin network because nobody can stop them, so i think this is the beginning of an avalanche of countries that will do the same thing. no longer can you tell a person or a country that they cannot have a financial market or financial protocol. bitcoin is there to solve that, and i think it started today. happy bitcoin day, by the way. cheryl: okay, yeah. well, again, this is the first country ever to adopt bitcoin. it is a historic move and, certainly, there's been a lot of doubters as you mentioned at the top of the segment when it comes to bitcoin and create toes. -- cryptos. the president of el salvador was on twitter because they had kind of a hiccup, if you will. the apps weren't working in el salvador. and he goes on to twitter and starts yelling at apple, google

and huawei, guys, come on, get it together. i don't know if you saw that, but i wanted to get your reaction. >> as somebody who is in tech, anytime you roll out new tech, there's always going to be issues. it's the beginning. i'm sure they'll fix it, and i'm sure that it is, you know, outbursts on twitter simply just his passion for what he's been working so hard for for the past few months. i would tell anybody to keep away from thinking that it doesn't work or that el salvador has all these problems. it's the first day, people. remember the first day that they put out the health care service with obama. the web site crashed but it's doing fine now. you just have to give it time to scale, and i think they'll figure it out. cheryl: what do you make of the atms he's installed in the country? it's a new in thing for them. >> i think this is a plus for the el salvadoran people because most people who cannot, you know, do not have a bank account, they can go to an atm,

they can buy a bitcoin for low fees, hopefully, or no piece. i don't think anybody who is entering into the bitcoin market has found an easier way to bite, and i think them adopting this only makes it more viable for everyone who wants to use it. you have to meet people where they are. you give them the resources and the education, i'm sure those people will appreciate it in the years to come. cheryl: what do you say to someone watching who's still a little bit leery when it comes to cryptoto currency, bitcoin, coinbase, any of these investments? obviously, it's been a huge hit for mainstream e investors, but what do you say to the doubter who doesn't understand how this currency could be viable when it doesn't have a government behind it? >> if you don't get it at this point, i can't help you. we went from an obscure protocol

that was called rat poison, a ponzi scheme, it's for criminals, all the way to a nation-state using it as a currency. never in the history of your life, your parents' or grandparent,' life have they seen a new legal tender, so if you're still leery, stay out and watch us create an entire new money market without you, and then you'll have to explain to your kids why you did nothing. [laughter] cheryl: isaiah jackson, i gotta tell you, you're king of the one-liners. thank you very much for coming on the show. it's great to talk to you about this. appreciate it. all right. a lot of conviction in what you're saying, i love it. well, there is netflix right now. stock is higher by more than 2.5%. the streamer, one of the top stocks on the nasdaq today, really helping to push the tech index to new all-time highs. also coming up why today's countdown closer says tech is now a better defense than

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♪. cheryl: we've got some break us into. president joe biden looking at live pictures right now, he has just arrived in east elmhurst new york, he is touring a neighborhood devastated by tropical storm ida. chuck schumer, new york governor kathy hochul among the crowd. he will be speaking next hour. we'll keep an eye. the president touring a neighborhood devastated by tropical storm ida at the end of last week. 13 people died in new york city. 27 in new jersey. it was a rough week. we are looking at a closing bell that will be ringing in

2 1/2 minutes. if it can hold the gains that we're seeing, kind of tight right now, nine 1/2 points it, would be the fourth straight record for the nasdaq. 36th all-time high this year. nasdaq had, what, 55 records last year? it has been incredible. dow, nasdaq, excuse me, the dow, s&p 500, are in the red right now. again, dow down 265, s&p down 15 and change. nasdaq higher by 10. today's "countdown" closer with 215 billion in assets. russ mayfield. great to have you here. you say the defensive stocks we normally would lean on in times of uncertainty we should not lien on right now. what do you mean? >> yeah. well we're at an early part of the new cycle. i would just wouldn't want to be doing anything but getting super defensive in something like utility or consumer staples.

we're in a pandemic ridden world. i want to be in cyclicals or tech even to your point on the other side of the break tech as new defensives. if you get defensive performance but also get above trend growth, low debt, high cash flow, products that everybody uses it is hard to beat that deal. cheryl: yeah. what about inflation we haven't talked about that much today but that is still a worry, right? >> sure. how could it not be with prints as high as we've seen, supply chains backed up in pretty much every industry you look to. we think in the base case that is transitory. we do think it is largely covid related. when you think about ships floating outside of ports, think about factories shutting down, it is covid. it comes back down to the virus. sometimes it is that simple. we think it will be transitory. it obviously less transitory than we might have thought at the start of the year. cheryl: the fed, you're not

worried about any taper tantrum in the market the? real quick. >> i think we would have seen it already. fed telegraphed. cheryl: very good. ross, thank you very much. big piece of boeing news. [closing bell rings] nasdaq another record, 36 records this year, folks for the nasdaq. that does it for me. liz back tomorrow. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. so we begin, what did they hide and when did they hide it? key democratic committees, house ways and means and senate finance are marking up massive unheard of spending and taxes plans right now as we speak. but they're not telling the public what they're really up to. so the answer to what do they hide and when do they hide it is, they're hiding it right now but information is startingo