number because that clears a six-month calendar range hi. charles: michelle, david, thank you both, always appreciated. the ceo of gamestop will beyond but liz claman in the next hour get it from his mouth directly, they will be going with the big-budget, a lot of great things going on. the ceo of amc is going with the gamestop report. i think i have it all straight. the ceo gamestop after the close. liz: exactly, there is a link between the two adam aron has talked about a relationship with gamestop were gonna push them on if he's finally reached out so you're not entirely off-track, thank you so much. are they extending or retracting, we head into the final hour of trade the federal reserve giving the delta variant a leading role in the latest episode of the u.s. economy. the dow and s&p 500 are down but

they're looking at three straight losses and nasdaq is in jeopardy of snapping the four-day winning streak after the fed's facebook released in the last hour mentions a highly contagious delta variant more than 30 times pinning as a villain as growth flows. while wall street might be soaking in a little bit, hollywood is smiling thinks to record date enter breaking labor day weekend and the legend of the ten rings. amc theaters posting all-time record attempted recognition numbers over the holiday weekend. amc theaters in chairman and ceo adam aron is a here and a fox business exclusive not just to react to the box office numbers. to reveal for the first time on national television his brand-new 25 million-dollar ad campaign. adam aron in just a few moments. only on "the claman countdown". speaking of old leaves only september the supply chain crunch about to play grinch with

america's favorite toys from barbie to matchbox cars and hot wheels is holiday season the ceo and on prizes on what he's doing to dodge and break up that logjam and what he envisioned and what he had envisioned a year ago by forging the partnerships with hollywood and how that's leading to a major transformation of his company and speaking of matchbox i will review the hottest toys for christmas when it comes to these minicars. that is tesla, the baby tesla, america's kids are heading back to school before christmas but the vera bradley ceo is here and could give us backpacks in the stock. but first breaking news wall street beating the federal reserve to the punch in the last 24 hours multiple star bank analyst sounded alarm bells of a downshifting economy. performing or vindicating that the fed has done it, morgan stanley predicted u.s. stocks

will likely correct 10 - 15% by year-end and has slashed u.s. equities to underweight siding outside risk to growth for october. city says long on the s&p 500 are outnumbering shorts by nearly 10 - 1 putting even what would've been a small market correction at risk of blowing up exponentially. and of course yesterday goldman sachs had a 2021 u.s. growth forecast from 6% to 5.7%. of course bank of america waiting in, morgan stanley, city, goldman all bearish, what is j.p. morgan thing, here on a fox business exclusive and first to react is chief global strategist jp morgan asset management david kelly. i'm thrilled you're here i want that reaction which takes the temperature for those of you who do not know pretty much all the economic regions it was peppered

with dozens of references of the covid variant what do they know that we have not that i hope that you do. >> i think it's a combination of information that's available that may not be reported widely but is available, few things going on there is a huge reduction in auto sales. gdp numbers are very sensitive to auto sales and there is no inventory there are not enough chips to make new cars and because inventory is extraordinary low and people no, that affixed gdp. that is being the consumption estimate installing out of travel in some parts of the country stalling out of reopening because of the delta variant. temporarily the economy is growing more slowly in the third quarter because of the delta variant. but that doesn't change the fact that this is our fourth covid wave, things will come down, the economy still reopening and we expect stronger growth in the fourth quarter then we will see

in the third period. liz: are these a bunch of chicken littles, your macro economic outlook, isn't that bad and i know you expect a slight moderating of the pace of growth but tell me why do you think that everybody is now suddenly sounding the alarm we known about the delta variant and there's still a supply and demand crunch, people want the supply, there demanded it and we don't have enough, doesn't that bode well for the economy? >> it means love access amounts to come here, that means higher inflation but due to the job numbers, the job opening number 10.9 million job openings, two and a half job openings the unemployed people. this tremendous amount to the economy and we can look at that wire people sounded the alarm bells, some people want to get a certain amount of attention for extreme forecast, overall

slightly moderation growth because of the delta variant and picking up were still basically on the road to a strong recovery, just a few bumps and basically we are recovering. liz: inflation is still steady, is it climbing were thinking considering, that wages were accelerating. they have to. i was in sag harbor this week by the tip of long island and there were so many signs that said sorry we cannot serve breakfast this morning we do not have enough people. but please apply were raising our wages. >> that's right businesses are perpetuating and when we look as wages relative to two years ago we could go past the pandemic from where we were before this all happen. the wage growth over the last two years is a strongest since 1983 we are seeing very strong wage growth that will continue because the economy is reopening in immigration is way down

because of the pandemic and restrictions from a few years ago. the baby boomers retiring there are not enough workers. we will have some continuing inflation because of this and will get through the supply chain disruption there will not be as much inflation as a consumer level from what were seeing now. some of the so stick around and the basic point the fed should still be on target and on track to begin to pay for its bond purchases i don't think that is changed i think the fed needs to remove the extraordinary things from the economy because the economy is still getting better. liz: the tapering question, it is getting better and were still buying 120 billion in bonds every single month but we are not going to solve the problem but you and your brain have been working on what to tell j.p. morgan, please tell our viewers where you believe the best opportunities are for investment right now. >> you have to look at the pricing.

if you look at international equities relative to u.s. equities there 30% cheaper, that is a 30% wholesale is not a going out of business sale, the rest of the world is coming back strongly and more strongly over the next six or 12 months in the u.s. but sales are extraordinarily cheap, that's one thing we should make sure to have in their portfolio and also this is the time to be active because the most expensive stock, the biggest stock in the s&p 500 they are expensive. it's important to use active management in companies that are genuinely deserved the valuation that they have when interest rates go up to think they could become more important. liz: when his equity happen. the fed may not hike rates but anticipation of the fed hiking rates will start to see mortgage rates climbed meaningfully in anything from credit card rates

and interest rates on people's auto loans. correct? >> i don't think the federal raise the rates until the end of next year. but starting the end of this year it's going to pull back on buying long-term bonds and you know the treasury department is going to be issuing so that should push long-term interest rates up we expect long terms to go up but that means mortgages are a long-term interest rates corporate bonds are long-term interest rates. i do think that we will see this affecting markets over the next six months to a year. liz: good to see you, thank you very much. we have the ten year yield of 1.3%. as were watching all of this we have to get to the fox business alert. we have household names with stocks that are on the move big time, let's take a look at it climbing into the s&p winner circle, the giant reaffirming the full your outlook and assuring investors it's doing what needs to be done. to avoid being squeezed by rising material and input cost and commodity costs.

the solution is price hikes, yes they are coming two thirds of the product lineup that is good for the stock up 4.7% still warren buffett said he paid way too much for craft time. general mills also in the s&p top-five at this hour after forecasting the smaller full-year sales drop in previously expected, the lucky charms and wheaties maker of four and half percent. on the flipside cody shares looking pretty ugly a day after a discounted secondary offering by kkr the private equity giant selling 50 million shares, the problem is it was that more than 8% discounted yesterday's close so you have cody shares down about 11%, also getting stung by stock sales bumbles lighting for a second straight day on a secondary offering by goldman and city is down 3% and neil getting clipped by 6% the chinese maker tanking on plans for three billion-dollar share

offering to help raise new funds. nio is not the only drama in chinese stocks, also getting smacked down nettie's and ten sent following a report that both gamers were summoned by government regulators in china. that's not good and what's an ongoing attack on the industry by xi jinping raising in the name of protecting the security and the mental health of minors. no more video games during the week. you will be punished if you are busted for not doing things that will prevent that. you have nettie's down 5.5%, ten sent lower by 2.6% and at home we have video retailer gamestop slightly higher ahead of its earnings report which comes "after the bell" analysts are predicting a 20% rise in second-quarter sales due to easing covid restrictions gamestop is up a third of 8%.

gamestop is not the only means stock with major news today. amc breaking records and now going for another first of its kind for the theater industry. ceo adam aarons is about to appear right here exclusively to show you the brand-new ad campaign ahead of its major rollout this sunday. it is only on "the claman countdown". with the closing bell ring getting 49 minutes the dow down 58 points, we're coming right back with amc adam aron. don't go away. ♪ ♪ i wonder how the firm's doing without its fearless leader. you sure you want to leave that all behind? yeah. stay restless with the rx crafted by lexus. experience amazing at your lexus dealer.

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record for all time admission and revenue during the four-day weekend with 2.8 million people packing the theaters around the world before the nationwide release amc chairman and ceo adam aron is here to join you and to show you the brand-new million dollar ad campaign starring nicole kidman exclusively on "the claman countdown". great to have you we have the brand-new commercial queued up and ready to roll but before we show it to our viewers why make the huge bend of 25 million would never before has a theater chain advertised itself. >> great to be with you there are two reasons to answer your questions first with three fifths of the u.s. population vaccinated, americans want to get out again if we learned anything over the past year end a half we don't want to be trapped in our houses in our apartments. in the fourth quarter there is an enormous slate of big movies coming, no time to die in 2015 james bond movie.

we want to tell people and remind people how amazing it is to see a movie in the theater again. liz: we've got it queued up, let us take a look at the we make movies that are starring nicole kidman, here it is. >> we come to this place of magic. we come to amc theaters to love, cry, take care because we need them, all of them, the indescribable feeling that we get when the lights begin to dim and we go somewhere we've never been before not just entertained but we form together, dazzling images on a huge solar screen a sound that i can feel somehow heartbreak feels good and nights like this. our heroes you like the best

part of us. and perfect and powerful. because here they are. amc theaters. we make movies better. liz: while. one minute long it's going to unveil on the mtv awards on sunday night but our viewers are seen at first nicole kidman great choice, can you give us a back story on how an ad campaign like this comes together. >> sure we've been thinking about this for years but as you said in your intro no theater chain has ever advertised this. we talked about what movies we are showing but we never talked about the theatrical experience itself and coming out of the pandemic to fill our business back we thought it was a great idea we approached the two best counties in l.a. we knew to tell the story we

needed and a list movie start to do it. or the message would not resonate in both agencies work hard for us. nicole kidman was a top female on our list and she said yes, we jumped at it. we are so pleased that she is giving her talent to amc. liz: it's understated but it's fabulous it was written by oscar nominee billy ray who is amazing, captain phillips, richard juul, i do want to ask you, there is no doubt. liz: it's important to point this out. go for it. >> let me quickly tell you that we got nicole in to show you how involved she was, this is her industry she wants theaters coming back to, she said i read the commercial, i think it would

be better i think you should get billy ray to rewrite it. she then said and i worked with directors for 25 or 30 years and these are the two best directors, you pick which one you want nicole is in this from top to bottom she was our director. liz: adam you are a survivor and you made it through an unbelievable 17 months, no dispute on that but the company is under 11 billion in debt, why spend a significant chunk of that, 25 million on the ad campaign instead of paying down some of the debt? >> i don't want to be cavalier by saying it's only $6 million in debt because 5 million is reported in capitalized leases which in the old days were operating costs. we did at the end of june 30 quarter $2 billion cash in the quiddity on hand. that brought the debt down to

4 billion but there are various ways to pay down debt and one of them is to drive revenue and drive earnings. we believe these wonderful nicole kidman there are seven of them by the way they are going to build our revenues back much faster than if we had reached into her pockets and make this expenditure. liz: adam i want to talk about the stock the stock is been a unbelievable performer year over year, year today it's up over more than 2000%, it is amazing but there was a recent attempt by the so-called eights to do a short squeeze, a mother of all short squeezes. the stock is not where it was back in early summer, what do you think is happening and what would you say to the naysayers about amc. >> that's a big question, my focus is this may be hard to believe but the share price.

in restoring this company to help surviving this pandemic and leading us back to glory, our shareholder base is complete returned over in the last eight months. our company was 80% institutionally owned and now it's 80% retail investor owned and those shareholders of ours lover companies and love movies and love going to our theaters and were spending every waking moment trying to make this strong successful company again and that's with these commercials of nicole kidman are all about and they are playing offense again not in our yields because of covid like defense but going out there to say the amc is strong and has a bright future. liz: have you reached out to gamestop in your last conference call you mentioned there may be a partnership and that you wanted to do it but you had reached out have you not made contact with them and what would that look like. >> as you know we've had great

suggestions ever since they really gain control of the company back in april. one of them they certainly enjoyed their affiliation with amc and a lot of them enjoy gamestop as well and they suggested that the two of us came up, we took questions on our last earnings call not just in security but retail shareholders that question came up and i said we make contact with gamestop and we have made contact with gamestop and we are talking but it's too early to say what the shape of some cooperative marketing might be. liz: please let us know when you do we would love to unveil that here. good luck with the new act campaign. adam aaronson ceo of amc theaters. thank you so much. an update on the elizabeth holmes trial. drama even on this first day that is next. don't go away.

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liz: you do not want to get this overnight this is exactly what happened the security and exchange commission putting coin based on notice falling about 2.5%. you can see there off the lows of the session this in response to confirmation that the securities and exchange commission has formally threatened to sue the crypto firm over its planned coin based product which would allow holders of u.s. dollar coins to earn interest by lending it to other traders. the notice does allow time for responsivity lawsuit filed coinbase already came out with a statement saying we don't even know what this is about. it pokes the sec in the eye with this statement. coinbase program which was pushed back to october even before the sec threat does

already have a waiting list. coinbase ceo brian armstrong responding on twitter calling it sketchy and pointing out the many other crypto firms already offer the same kind of program. why are we being the victim now. coin based in the $259.94 fellow trading platform and potential sec target robinhood sliding at this hour as it confirms it will begin offering recurring gradual investments for crypto currencies, that is not helping the case today, down four and a quarter% crypto minors down after yesterday's bitcoin route courtesy of a shaky start to el salvador now legal bitcoin debut making it so-called legal tender. you can use anywhere in the country marathon and riot are getting hit you marathon down four and three quarters% right down five and a quarter% of the purchase is 3000 micro bt high-performance bitcoin minors.

we have got to get to this breaking news it's like the trial of the business network century elizabeth holmes arriving in court look at this group before noon yesterday easter today as opening statements begin and the federal trial against the founder, the prosecution team telling the jury this is about fraud, lying and cheating to get money. let's get to the fox business newsroom in jackie deangelis has the details of what just happened inside the california courthouse. >> good afternoon, these opening arguments are so important because both sides are going to lay out the case and when it comes to elizabeth holmes, this could be explosive. she pleaded not guilty to ten counts of wire fraud and two counts of conspiracy to commit wire fraud. recall the story started back in 2003 when holmes 19 at the time in a stanford dropout founded the company, the company that said that it could run blood test with just the prick of a

finger in reality the technology did not work it was unreliable and on only a small number were run through the machine. in order for the government to prevail it needs to show intent that she intended to commit fraud, not that the company ran into some hurdles with its product and the government went for the fraud in the fraud allegations quick and fast in the courtroom the defense strategy is believed to include a pot under possible battered woman that she was under control her former boyfriend and business partner under partner a mental health defense holmes was a magnetic character in the story is well known on wall street hbo did a documentary on it that's why jury selection was so challenging think back to holmes' rise she was presenting herself as a female steve jobs if you will black turtleneck, red lipstick, the monotone voice, we all remember, the trial is expected to be a three months or so and could be longer than that. and the testimony ahead of us. when it comes to financial

impact were talking about the company valued at $9 billion at its peak and that it became worthless, all add this if she is convicted of fraud she could face up to 20 years. liz: all i can say as a doctor's daughter i looked at that holding up that little vial insane you cannot do it. it's a coldfusion in your kitchen. and a lot of other but under business networks put her on the air and bowed to her and genuflecting, we did not, we smelled it and we will be watching this. jackie deangelis a lot of investors lost money. liz: subpoena after the sour after supply chain disruption and if gross margins and delivery outlook shares are swooning down 5.6% and by the way with just two months to go until the holiday season the toy industry also finding itself in

turmoil due to the supply chain crunch. the ceo is here on how his toymaker is fighting back to get barbies and hot wheels on the store shelves just in time for christmas and hanukkah the closing bell ringing in 27 minutes the dow falling 78 points and s&p lower by seven but well off the lows of the session nasdaq down 99. we're coming right back. ♪ liberty mutual knows everyone's unique. that's why they customize your car insurance, so you only pay for what you need. [ nautical horn blows ] i mean just because you look like someone else doesn't mean you eat off the floor, or yell at the vacuum, or need flea medication. oh, yeah. that's the spot. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪

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liz: the holiday season two months away but if you don't grab what's on the shelves now do you risk your child's holiday gifts being stuck on a ship in the middle of the pacific instead of santos lead in december. every latimer person gathering versus the drive-by pandemic birthday parties in federal stimulus money have been keeping

sales afloat in the toy industry but just in time for the industries key all important sales season supply chain bottleneck are threatening to tko toy makers one ceo taken a different approach on the supply chain fight let's bring in the ceo he is joining us now what is happening here in my hand i have what is expected to be top toys for the holiday season the barbie ocean home with the barbies and go along with it are there going to be enough of these and what are you doing to ensure that you're going to be able to fill what customers really want? >> you have been following our story for a while and you know it's a very different company compared to a few short years ago when we announce our strategies to transform into an ip driven company. our strength is growth base. product is resonating with consumers at levels we have not

seen in years. our strategy is paying off and were starting to unlock the true value of mattel. and with that looking at our supply chain and our performance over the past few years we've been managing the supply chain for several quarters and were able to achieve double-digit growth to four quarters in a row. including strong growth in q1 and q2 this year. this is a result of the strategy that is working in the success of the program which speaks to the strength of our supply chain capabilities. liz: you also broaden your supply chain and you have factories all over the world. canada, colombia, what has not done make sure other avenue to get everything from ocean barbie

as an infant and analytic medicine hot to make sure there are enough income to the toy for an online. >> or comprehensive restructuring we are now pursuing a strategy that we developed a flexible organization that is able to withstand challenges, with significant reshaping operation reduce the complexity and we improve key processes and we streamline operation in the organization structure and were very confident about our supply chain capabilities and we believe this area is strategic advantage. liz: i'm holding up the fearless barbie this is when you're barbies that you have unveiled

to be a more inclusive company, you have to tell me specifically will the prices of your toys be raised because were hearing from target that the running from 2 t certain points to fill the shelves and therefore they are raising prices which has got to meet you guys have raised prices because your material costs are coming up, is that the case and how are you keeping the cap on that. >> we did talk about raising prices in our second quarter earnings call. we have demonstrated our ability for control cost over the past few years but as you mentioned there are inflationary pressures this year end we took prices up which will be implemented in the second half of the year but important to stay when we raise prices we always keep the consumer in mind and were being very thoughtful and very committed to maintaining the safety product for consumers

when we think about pricing. liz: when you were here more than a year ago you had just unveiled your amped up movie plan which was to really start to turn the toys and have great partnerships with netflix and some of the other operations there. it is now paying off what can we expect you had 18 different shows that of come out, what is next and what revenue increases are you seeing from these unveiled. >> we owned one of the strongest catalogs of children and family franchises in the world. what were looking at is an opportunity to expand beyond the toy business to a highly creative business verticals that are driven by big franchises. trusted brands. and were talking about television, digital gaming, live events, consumer product or merchandise music, mattel films

is very much seeing a lot of excitement of processes that we are developing and the biggest filmmakers of our generation and movies that we already announced and could not be more excited about some of these projects including masters of the universe, hot wheels, american girls, bernie, wishbone, oh no, polly pocket and of course barbie which is a great project in the making and were very excited about it. liz: i would like to say am a big environmentalist these beach barbies are made from recycled ocean plastic in the preview for 2022 tesla roadster matchbox car, thank you so much. good luck at mattel. stock is up 95% year-over-year he's doing it right. charlie breaks it on the amc short squeeze that wasn't and

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remember company with 80% institutionally owned now with 80% retail investor owned and those shoulders of ours, the lumber companies and they love movies and going for theaters and were spending every waking moment trying to make this a strong successful company again. liz: amc ceo adam aron just told us exclusively on "the claman countdown" how the movie theater company has transformed its investor base from

institutional, you can see on the far right side of the screen for stock popped into positive territory right as he spoke those words. they mesmerize wall street when they took on the short-sellers that were swirling around betting that it would go down now will security regulators nosy around it would be a little late, would it not be. >> i think aaron adam is doing a great job, that's a very difficult hand on a lot of levels but he's doing the right thing he knows how to market hats off to him. that's one part of the story the other part what's going on in the market with the stock i speak to plenty of lawyers and people who work at the sec. they think there's something

that smells bad about the way the stock is trading free much of the trading activity i'm sure some of it is where a lot of visitors, i love this doctor think the economy is improving, covid is diminishing and people will go to the movies that is great i'm sure there's some of it, a lot of it is premised on the notion that if you buy now that 47 or couple months ago at 70 you're getting in on the ground floor of a short squeeze and it occurs when there's not enough stock tomorrow for by his held by a few hands and when the stock in trade stock was up yet to cover the short because your broker says you have to cover the short therefore when it goes up you have to buy more in the stock goes dramatically higher short-sellers and trading technique that you make money when stock goes down in a the other way you have to cover your short that increases the price

activity. and that's what happened with gamestop earlier in the year, amc, few other stocks that's why melvin capital nearly went under because it was part of a short squeeze. right now i speak to plenty of marketmakers there is no evidence that there is a short squeeze there is no evidence that wall street is on the wrong side of the street in a massive way but there's no evidence of something cataclysmic to affirm and there's no evidence it's going to 200. you keep seeing people on reddit or whatever, on social media the amc touting a short squeeze were there's no evidence that it exists. that is called security. liz: let me make my point. that could be securities, you are touting a stock to move the higher and where you don't believe that is going to move higher where you may be in and

out of the stock. are they going to bust down a door of a dude in his mom's basement trading on robinhood, no but if there is sophisticated player putting out lies that there is a short squeeze around the quarter then they can trade it. that's white's manipulation and the stock would be manipulated pre-particular here that the premise of the movement higher on the short squeeze. i think it is a tough case but there is a manipulation, potential manipulation issue here. >> charlie gasparino will be watching all of it and more, vera bradley ceo is next on this magical backpack, will get to that in just a second, the dow is down 89. sure, it's wireless. what's your buick's wi-fi password? it's buick envision. that's a really tight spot. i used to hate parallel parking.

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bradley. september is historically tough month. shares of vera bradley are down 9%. up on misses in revenue guidance and and investors are turning the tied, the stock is up half a percent for the moment. accessories maker is launching exclusive collaboration with the mouse house hoping to add magic to the company. let's bring in ceo robert what is the partnership with disney and what you're seeing already with the excitement swirling around it? >> partnership is really magical. the kirks between vera bradley, and disney, we had a multiyear arrangement but able to bring to consumers across e-commerce site and across the stores. disney are in love with disney and vera bradley. it's a marriage made in heaven. liz: can you describe some

products you have that are coming in. >> yes. across most of our iconic products, campus backpack, number one women's backpack, $50 in the marketplace, we have great throws which we're famous throws and vera bradley totes, zip i.d.s, everything you could want back to school. liz: we have to talk about the supply chain issue. we had to talk with the mattel and they had to broaden make malleable for supply chain issues to get toys for the holiday season. what are you experiencing right now, where are the weak spots, what are you doing to change that? >> we've always had a really strong supply chain. we've been diversing around the world for the last couple years but to your point there are definitely a lot of issues out there between covid hitting different countries at different times, shutting down factories as well as logistic challenges and ports. we're fighting through it right

now. it is one of the challenges. there are a lot of opportunities that balance out at the end. liz: you have said that you're going to focus more online retail. care to expound on whether your brick-and-mortar stores will continue in numbers that we've seen in the past? will you start to shutter some of them? >> we've been narrowing down some of our full-line stores over the last couple years. we still think there is a little bit to go there but we think the combination of e-commerce and stores together is what is really critical. we think they work off of each other. we're getting closer to a stabilized full store portfolio when we continue to open up factory stores. but we have a second brand which we're launching into stores. we opened up our first store a couple weeks ago. it has been off to a tremendous start. stores are still a very important part of the mix. liz: we've said it. do not count out the brick-and-mortar store model. we've seen some of that really coming back.

robert wallstrom of veer bra -- vera bradley, thank you very much. the dow is struggling, down4 points. [closing bell rings] nasdaq four-day record streak coming to an end. that will do it for "the claman countdown." "kudlow" is next. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. so, lo and behold the newly formed government of afghanistan is populated by terrorists from top to bottom. four of the five taliban ministers were released from guantanamo bay by the obama administration back in 2014 in exchange for an admitted u.s. army deserter, bowe bergdahl. i'm not even going to try to pro