shopping season where all you can buy because of supply shortages are apple products. charles: is always great having these conversations and i think the audience, i know i speak for myself and say i do but i will not get the iphone because i'm old. >> i'll keep trying. charles: were sideways we tried to bounce in the last hour is always important but it's been treacherous lately all eyes are glued on your show. liz: you're not old are we kind of the same age. charles: not politically correct, season, something out there. liz: charles, thank you very much we will start with breaking news the house is set to gavel in any moment a vote to sync up with the senate on raising the debt ceiling to be intimate but that is a band-aid on one of the

many major issues driving up certainty which are searching for direction with an hour to go before the closing bell rings j.p. morgan chase david kelly is going to talk about the i word, inflation and what about the s word stagflation meanwhile kelley's boss is in a bit of hot water with a crypto crab will talk to the man that got approval from the security exchange commission to launch the first bitcoin centric etf and what j.p. morgan ceo jamie dimon has to say now about bitcoin you'll hear what jamie said it will get the reaction. a big-name following wall street and main street's against companies as they pack up and head south famed investor kathy would the latest essay i moving to florida we have one the top commercial real estate as executives in the state about the sunshine state boom were headed straight to chicago midway airport what is happening

what's the latest for southwest and the struggles to get the pilots back on planes and the planes off the ground in the air will take you to chicago will begin with breaking news rin cameras on capitol hill because at any moment we could see movement on the debt ceiling the house is about to gavel and the question for investors, will house members follow the senate lead to extend the debt limit, the federal government 60s away as treasury secretary put it running out of cash to pay its bills, last week after much haggling democratic and republican senators agreed on $480 billion increase to the ceiling either way a showdown looms because that number only gets us to december 3 for the money runs out however, stocks are way more sensitive to the word at the moment inflation you can see red on the screen, the three majors they turned negative at 12:30 p.m. eastern

that's when remarks raphael was released bluntly stating inflation will not be brief and worse evidence is mounting that price pressures have brought in beyond the handful of items most directly connected to supply chain issues, there is now inflation according to boston you can see the shipper as we show this to you at about 12:30 p.m. i want to specifically let you know the dow had been around 34596 i was watching it then it dropped to 34448 not a huge moment you see it going back into the green and hour later was still in the red the dow is down 53 points but with inflation here is stagflation stagnant growth plus rise in prices soon to come let's get to jpmorgan chase local strategist david kelly the

dow and s&p are lower but were going to get to whether the fed is buying the karbala inflation but to get viewers ahead of the curve are we or are we not assume to face the inevitable flag station. >> not in the way that we remember if you remember the 1970s yet high unemployment and inflation back in 1980 we had inflation running at 13.5% and unemployment at about 8%, these are the misery index you that inflation and unappointed together that's 21% the next year maybe unemployment at 4%, i think by the end of the year will have inflation about 3% were gonna have a little bit higher inflation and slower growth as the economy hits employment is not like

stagflation. liz: the 70s and 80s were tough but tomorrow morning we get the cpi the consumer price index for september this gives us an indication of inflation at the consumer not the manufacturing that comes later, were expecting to see a 5.3% jump in the price three-point tenth of 8% month over month tell me what you're looking for 5.3% is radically significant. >> that's what we are looking for this is the fourth consecutive month which year of year has been about 5% and it is all about supply shortages along with oil hitting $80 a barrel there are a lot of short-term issues which are hurting but remember high prices to get more production and more distribution if you can get a card to market you make a lot of money in a barrel makes a lot of money that

will increase production and distribution year from now i expect a lot of the supply chain issues to dry up and there's downward pressure a much stronger wage growth people are talking about inflation expecting inflation and we see rise and rent i don't think will go back to prepaid debit levels of inflation but if you asked me a year from now if inflation will be lower or higher i will go with lower. liz: remember in the 80s you had to bring in fed chair paul volker and a spying of steel he raised interest rates to tamp down the stagflation, he was a genius but he took a lot of flat for that were at 0 to a quarter of 8% and i can remember rest in peace was able to talk to ms. sanford and he said to me he felt that fed cheers have to do what is not popular and that is sometimes to raise interest rates. do you expect if we start to see

what raphael said today that it were see inflation increase they will have to raise rates sooner rather than later? >> i depends what you define sooner i expect them to to taper in december or november and be done by the middle of july or middle of summer next year i think we will get a raise hike at the end of next year but what will happen growth will be slowing down supply purchases will be coming off and that's not going to put a huge amount of pressure on the fed is a very devilish bed there very scared about raising rates i think they will take their time and inflation pressure weighs a little bit i think it will take their time, they seem to be higher but there will not be any rush to do it. liz: jen psaki the white house press secretary was asked about inflation when there's so many issues coming at the

administration, now were talking business, let's listen to what she said. >> the oecd has predicted that it would come that in the next year but bottom line or focuses on preventing inflationary pressures been an issue in the future. >> they're talking about it's obvious on what everybody's radar is there pockets investor should look right now if we continue to see persistent inflation. >> first of all you want to think about things that protect against inflation do you own a house are you invested in alternatives like real estate, global transportation, infrastructure things i keep the real value, that is one question and also within the stock market talk about higher inflation if that means higher loans and interest-rate which i think it will that will help financials in other sectors, those are two areas to look at.

liz: good to see you, thank you very much up the russell 2000 did into negative territory but popping back up, the small and mid-cap to the gutsy at the moment let's get to a fox business alert david kelly mentioned rising used car prices are provided enough cash to make a new acquisition room shares accelerating 2.5% as we had the final hour after the used retailer analysis by united auto credit for 300 million in cash it will allow financing options for its shoppers why it's not profitable at the moment it just reported quarterly revenues at 201%, not bad, let's look at tesla up a second straight session propelling 2% higher on record sales numbers at china that tv maker sold more than 56000 teslas in september, tess only began manufacturing cars in shanghai about two years ago

fellow ed maker catching four to half% at this moment mgm at the tippy top of the s&p 500 giving a leg up to rivals, the news is mgm specific look mgm 8.6% after credit suisse raised on bellagio, locks or a mirage to outperform the price target to $66 a share, were at $48.23. the recent deals will allow it to become a more streamlined company, reduce debt and increase cash flow. quite based ugly most of the session we have it down nearly 3% even as a crypto announced a. to. quite based nft nonportable token but quite itself has been on a tear, moderating just a bit over the last 24 hours down 1450 weber stated that 95%

year-to-date and considering sub 30000 recently as july it's much closer to touching all-time high in april of around 64000 the huge tailwind the sec approved the very bitcoin focused etf to a name not known like wisdom tree and some other names, we have the fund manager who pulled it off in just a few minutes. forget the snowbirds big business flying south to set a permanent shop one of the leading real estate executives is here to tell us how the sunshine state is now dealing with the boom in commercial real estate and warehouse space and it's not just in palm beach and miami the closing bell ringing and 49 minutes the dow is down 52 points and "the claman countdown" is taking you to florida next.

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liz: i am admitting it i watch squid game for the first time last night this is netflix

megahit, copycats and that is good news for the corporation shoe brand vans all the freaks are wearing vans with their sweat suit from the 1980s the sneakers are surging according to british footwear retailer sold supplier, they spike 78% since the show debuted global searches for white slip bonds in general have also increased 97% since the start of the show. i worry vans a thousand years ago with a little black and white checks on them. >> as we look at breaking news the shares of southwest and the final hour we are off the height of the session, have been up more than 2% were up more than

two quarters of 8% to 5205 the brand is still facing tough love in the fifth day of turbulent scheduling the latest flight aware cancellation tally 91 flights with 660 delays that's for today alone of course math cancellations began over the weekend and the company was blaming bad weather in florida southwest had to scrap 1900 flights but the pilots union with poor and brittle management, let's get the very latest from grady trimble at the international airport where southwest has 26 gates on concourse b? >> it is basically all southwest and midway things are looking better here today but what we are seeing people canceled flights in previous day looking back at the board you can see a few flight delays but as of right now i'm not seeing any cancellations, a few from earlier in the day and the 90

cancellations are around 3300 flights, right around 2 - 3% of the total flights for today, a lot better than the weekend and yesterday hundreds of flights were canceled you mention florida and the severe weather, gary kelli, the ceo of southwest airlines said their airline was particularly hard-hit because 50% of their fleets touches florida in some way and they said the weather caught them off guard and they had crews and planes out of position and that caused a ripple effect. it is certainly become clear that the staffing issues are a problem not just for southwest airlines but pretty much all of the airlines american you might remember last summer had several hundred flights canceled over a several day. and specifically to address the claims that have been made about the vaccine mandate which some

have said cause the cancellation because pilots and other workers walked out the faa, southwest airlines ceo gary kelli in the union for the pilots said that is not true, the pilots union is fighting the vaccine mandate in court but they say there is no stakeout or protest to that effect related to the vaccine. that is the latest, things are stabilizing and approving but ms these last few days. liz: stock slightly recovering, i imagine this is not a good time for some travelers who have been waiting. grady trimble from midway chicago airport they're down near session lows off of 101 were down about 80 at the moment we are coming right back, don't go away. ♪

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is the latest ceo pulling up her wall street stakes in the ark investment firm to florida we have been telling you this for months the new york-based company from goldman sachs to jetblue, blackstone, colony capital, amazon flocking to the sunshine state attracted by lower taxes and limited covid restrictions but for every action there's an equal and opposite reaction, the reaction is the demand for commercial real estate is through the roof so much so that companies are snapping up industrial properties and warehouses which are the hardest to come by in the sunshine state george's president and top agent for state street in doral florida, can you give us a window into how your world has changed in the last six month? >> thank you so much as a pleasure to be here as i mentioned, we have been in the business 29 years and i will tell you the industrial market is a sweetheart of all

commercial real estate assets right now including office and retail in my time here in the market i've never seen a more active market where the demand is at an all-time high, literally we have two in three tenets fighting for the same space to lease and it's really unprecedented. i think the surge of online ordering an e-commerce industry has really accelerated the need and demand for warehouse fulfillment and distribution space in south florida and across the country quite frankly. it is accelerated it by 3 - 5 years the demand in space that the e-commerce companies need have been accelerated it is been a really great time to be in the industrial market. liz: how does the global supply chain bottleneck around the world mostly in asia affecting the demand for local warehouses?

>> that's a great question it impacted the industrial warehouse tremendously, the backlog in the major seaports like l.a., new york, new jersey and all along the east coast, the united states is created a very high demand for a lot of e-commerce companies and companies in general that need to stock inventory and especially for the upcoming holiday season. as i speak to our customers they have told me there is a high probability that they will require additional warehouse space here in the next 30 days to stock their warehouses with inventory to make sure that they are ready to meet the demands of the holiday season as a matter of fact prior to the pandemic they called their inventory just-in-time inventory at the time there would be online

orders we would get fulfilled and distributed, those days are over and most of the e-commerce companies and companies in general have inventory that is called just in case inventory, just in case inventory that means just in case we have more problems with the supply or continue to have problems with the supply chain. liz: let me jump and i'm very interested to know price per square foot we have motivated business viewers who are running businesses, what was it a square foot pre-pandemic 2019 and how does that compare today. >> great question i will tell you pre-pandemic in south florida per square foot number was $9 per square foot and in 2020 as the pandemic started i would say six or seven months into that because of the demand for warehouse space for all the reasons i mentioned prices went

up to $12 a square foot and today i am transacting at $14 a square foot but you can see the steady increase in to be very honest if you're looking for warehouse space right now across america you should lock it in now because rental rates will continue to go up the rest of this year end i don't see any red flags for the rest of next year. liz: a short window for 2020 and people could strike really good deals, talk about a bottom not just miami and palm beach i would imagine the pickings are slim because that's where people first went what are the next top regions in florida for the enterprises, the companies that would like to move down there. >> miami-dade county has very little supply in industrial space in the vacancy as an all-time low but you have different markets in south

florida, yelp opa locka, hialeah garden these are peripheral markets that are the beneficiary of limited supply and low low vacancies in the markets have been there and they are really doing well and increase rental rates are being seen in these markets as well. liz: great to have your perspective, thank you for letting us know what is going on. >> thank you so much, have a great day. liz: don't miss fox business prime real estate tonight american dream home was cheryl casone he though one and only cheryl casone he followed by "mansion global" with katie mcdonald only on fbm prime the nation's top banker we knew he was no fan of bitcoin but you've got to hear straight from the horses mouth what j.p. morgan

jamie dimon just said has a crypto verse up in arms again we will take it up with the man who got approval from the fcc to launch the very first bit enter bitcoin focus etf closing bell fewer than 30 minutes away, the dow is down 61 having trouble making it back to the flat line but not where it was at the session sap down and the nasdaq down. ♪

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liz: breaking news the fda has permitted the marketing of e-cigarette products which is the very first authorization by the fda almost immediately you had a spike in the groups volume is up half 8% you see philip morris upper half 8% in turning

point is flat to slightly higher where british is down half 8% the fda did didn't i for flavor products and mental flavor products are being evaluated they think companies are feeling the effects as we mentioned and we will be watching the stocks in the fda approved the marketing for some of the e-cigarettes third-quarter earnings season, j.p. morgan reveals before the opening bell ahead of the financial giants outspoken jamie dimon making waves in the curved community diamond dissing bitcoin during a virtual conference, listen to what he had to say. >> i personally think bitcoin is worthless, i don't care it makes no difference to me. liz: he could not of been more blunt he calls it worthless and the regulator trip to currency gary gensler a bit less direct

while he has been outspoken about the need to regulate the crypto craze the sec approved the first etf with exposure to companies that hold bitcoin, the vote crypto industry revolution and tech etf btc are and give them indirect access that have direct exposure to the original digital token let's get to the ceo who somehow convince the sec to get his eta stamp of approval vote equity, you are one of many and much bigger than bolts who were working for years to get fcc approval, i'm thinking of invesco, i know those guys have been working forever for that, why do you think gary gensler and company pictures? >> i think the reason for that this is an etf that does not invest in bitcoin directly but

we tried to get at what people actually looking for which is correlation to bitcoin's crisis if you look at what happened in the last year some of these minors and companies have been able to move explosively with bitcoin and the light that is going off these companies are really focusing on bitcoin and get the majority of their income and revenues from bitcoin, it makes sense that they tend to move along with bitcoin's price that's really gave me the idea to launch an etf that was focused on the bitcoin industry for what investors are looking for in this type of vehicle we are pleased to finally make it through. liz: you must've been cheering again there have been very major names in the etf world knocking at the sec doors for a long time

how long was your application and in what was their methodology beyond what you articulated for picking specific names in them? >> we started the process at the beginning of this year in the january timeframe but we did not submit it until later but it did take longer than normal and we did have to extended several times as were doing a lot of back-and-forth at the sec and they were a little more open to this because we were investing in the company's to the point itself which has we are really excited to make it through and pleasantly surprised that there open to have a bitcoin focus etf. liz: does that confusion because gary gensler has been quite firm that is wary of what's going on in the crypto world he wants to

protect investors from themselves from what appears to be a very mesa industry or investment, i get that and here he is slowly but surely certain toe dips into the opportunity for investors to die even but if you were sitting across from gary gensler what would you recommend he starts when it comes to regulation. >> i actually think gary gensler is a little bit misunderstood he is pro-bitcoin in my opinion he taught the crypto currency as many people know that when you actually dive into the course itself and he points out some of the problems with the regulated how do we get crypto into the regulated space and what are the main problems he points out it's like custody, he is spot on those are problems to if you say

someone with the bitcoin but that company can be, how is that protecting the everyday people. and i have a gold atf at a bitcoin atf and i'm storing the gold in my basement is the ftc going to evolve, probably not unless companies can show and actually address the issues that he specifically mentioned were problems before they come onto the u.s. is not going to work. i think half of the applications out there are not valid for a bitcoin etf because they're not addressing what gary gensler is saying. ultimately he is pro-bitcoin in the regulations do not see what the looking for in the market today so you don't have to deal

bitcoin custody but have a lot of exposure to bitcoin in bitcoin's price movement. liz: really quickly were gonna put up the names that will be in this along with micro strategy give us a few other names in your number one reason for that. we are also excited about companies like tesla and square in twitter twitter allowed people to send bitcoin back-and-forth and essentially we people bitcoin across the world is never been done before companies like bitcoin from skin my net even though bitcoin that $50000, really excited about the pace of innovation in the field and excited about the industry we think is just getting started. >> it's great to see you i know you're launching a couple of weeks i know you don't have a hard day but we would love to have you back on launch day. >> thank you.

liz: we really made that happen, we talked about jamie dimon's bitcoin on my morning market minute on tiktok we have to enter quarter million people -- i guess one quarter of a million, i cannot count, a quarter of a million 225,000 people following me on tiktok, i hope you will join us soon every morning with my producer is good to be a great time gamestop up more than 830% this year and we are still waiting for the massive report on gamestop craze that sent it to the moon, charlie gasparino has some new details on how the report is coming along he will break it fast. we could hear the bell ringing 17 minutes. the dow is down 98 points. ♪

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liz: more sec news, gary gensler has got to come on the show we love having you and sec report on january's stock has apparently been delayed there has been pushed back supposedly on the content, gamestop which i would argue was one of the original means stop. >> blackberry, hertz. amc is one. >> we reported earlier today that gary gensler has always been a huge supporter of bitcoin and its block chain it's everything else blamed him for

picking winners and losers including a loser and excerpt the going after ripple. liz: that was a case brought under trump, follow my logic gary gensler in march 2018 went to jay clinton and to express his views including bitcoin is not a security and does not violate the law just so you know jay clinton and the sec not long after that the top sec gave a speech about bitcoin not being a security, a theory i'm not being a security and it mentioned srp and it became clinton did the case against x rp and ripple and chancellor is pushing it forward. liz: that is going to come back and you should be here, he got the good which is amazing for the first etf. >> it is bitcoin focus and get garygensler was lobbying.

but any event gary has his hands full and there's a report that he needs to put out and wants to put out about the mean stock that a january and february this year when robinhood sees trading and handle the volume that did have the capital and payment came under scrutiny because get robinhood sold its trades and a lot of people thought citadel was with robinhood to stop the training, be that as it may gary gensler is putting out a report on this from what we understand the report is been delayed, why is that we have inside in the sec about the reports the report is done by a working group that gary gensler assembled and put this thing together and come to certain conclusions about what happened here and what should be done in terms of the market structure, we understand there

is a lot of debate about this, what is gary gensler want to do, this is a huge story it affects trading of stocks. he wants to do the biggest overhaul of market structure in the last 30 years, it was about 30 years ago he wants to direct all trades are most of all trades that the he stated to the major exchanges for order flow may be shut down exchange menus also known as dark pools, that is a huge difference for what we have today dark pools were created because the sec 30 years ago or 25 years ago whatever was, the national market structure is a new law so you have competition with the exchange, if this does happen

the nasdaq and the new york stock exchange are publicly traded stocks, an interesting play if you trading it will help them because the order flow will get directed to them. liz: there all. >> there will be a battle royal over this. i tell you the robinhood of the world like payment for overflow allows them to charge no commissions and citadel securities which outperforms the task, virtue another perform the task they are going to congress saying the system that we have now is remarkable innocence that trading has never been more cheaper than ever before in his conclusion that gary gensler is saying wider spreads is hitting cost are not met with the facts. i tell you inside the sec there is that debate right now. liz: there is a mean stock jumping 30% output on the screen, 23% rather.

cost is at the moment jumping $3.53 this is one of the preferred names for these guys i would also mention session laws seconds ago we just missed. liz: my guess, audio, video. >> this is my guess i haven't checked with the board say the mean stock crowd is pointing them as a potential sports lease, it does not work we should point out amc is down 40% in recent weeks. liz: what is fascinating. >> the hedge fund closes short. liz: what is fascinating charlie and me the retail investor moved these names. charlie gasparino thank you very

much we're coming right back were close to session lows the dow is down 163 points at 34330. stay with us. ♪ (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you, your dreams, and the way you care for those you love. so you can live your life. that's life well planned. this isn't just freight. these aren't just shipments. they're promises. big promises. small promises. cuddly shaped promises. each with a time and a place they've been promised to be. and the people of old dominion never turn away a promise. or over promise. or make an empty promise. we keep them.

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your strategic advantage. ♪. liz: that was fast. we were at session lows down 177. now we're down 98 for the dow. 105. moving all over the place. prince harry and meghan markle are getting finance business joining fintech manager ethic, as investors, so-called impact partners. let's bring in the president of cio of henyon and walsh asset management. six billion under its umbrella. what would you advise them to buy if they were very interested in this type of ethical investing? >> appears, liz, harry and meghan are interested in one of the fastest and most popular investment themes across the globe right now, and that is esg investing, more sustainable

impact investing because now can they not only feel good about the companies they're investing in but feel good about the potential returns of those stocks that those companies generate. we have our own sustainable impacting investment trust at smart trust, esg rating of just capital and investment ratings of argus research and there are three particular names i would like to high height for you today, liz. the first one being the number one ranked capital by just capital according to their own esg ratings. that being microsoft corning. they rate very high how they treat their workers. specifically how they treated them during the pandemic and how fill lan there pick they philanthropic they are to the community they operate in. two other names, cummins incorporated in addition to cisco systems. they play to growth and value rotation as they both offer

yields above 2 1/2% and p-e ratios above 16. attractive entry point, value oriented and esg. liz: look at the names, cummins, microsoft, cisco, they are large cap. it doesn't work, it is great to do ethical investing but this is business so it is great to have these picks. but as we look at what is the overhang for big and small companies, inflation, how worried about this are you? we're getting cpi tomorrow? >> there is a lot of concerns right now for investors. appears inflation is not as transitory as we earlier thought. we don't know what the ultimate fate of infrastructure spending bill or the budget reconciliation bill is. of course what will the federal reserve do to combat inflation and when. despite all of that, liz, we see more upside potential for stocks but short term volatility along the way. liz: great to see you. thank you very much, kevin munn.

by the way once again we have the russell trying to come out on top here. it is up 2/3 of a percent. looks like the dow, s&p nasdaq will close for a third straight day lower. [closing bell rings] that will do it for "the claman countdown." we're so appreciative you joined us today. you better be back tomorrow. "kudlow" is next. ♪. larry: hello, everyone, welcome to "kudlow," i'm larry kudlow. so what's wrong with work? it's a big question these days. there is a lot more unfilled job openings than people unemployed. in fact in today's jolts release from the labor department job openings did decline by 666,000 which i suppose is good but still remained historically very high at 10.4 million. that is unfilled job openings. depending how you count