according to the cdc's national centers for health statistics. 1.8% of those households have only a land line, no cell phone. all right check the markets one more time i'm afraid we're heading south across-the-board dow is down 300 and so is the nasdaq. sell-off friday, i'm very sorry to say it. my time's up, neil, it's yours. neil: so that was a cdc survey did i hear you right? stuart: i believe that's where they got the figures from, yeah. neil: they are spread a little thin if they have time for that don't you think? stuart: that's for sure. neil: have a great weekend stuart thank you very very much. all right let's see what we got going here, a steep sell-off at the rate we're going here folks it looks like a losing week unless we can change things around in the next few hours. there's been a lot of back and forth on the employment data out today we had 390,000 more jobs so the first time the better part of the year we seen a month where we had less than 400,000 jobs added to the economy, unemployment rate as you've been

hearing in and out of the cycle lows here certainly going almost back to pre-pandemic levels, still sticking around 3.6%, but it's probably the comments that we're hearing out of the likes of elon musk, not exactly sure that everything is firing on all cylinders, does that happen in electric vehicles no i don't believe it does, but he's saying essentially that he's feeling super bad about the economy, and that's leading to a super sell-off in his stock and concerns that maybe he's on to something much more than the president and talking about these employment numbers. let's get the read on everything first with kelly o'grady picking apart that report, and what it could signal. kelly. reporter: hi, neil. well yeah, tesla maybe the latest tech player to pump the brakes amidst fears of a recession. reuters is reporting that elon musk sent an e-mail last night to executives sharing he had a " super bad feeling" about the economy. the message titled pause all hiring worldwide also called for the company to slash 10% of jobs. now according to its annual sec

filing the ev maker employs nearly 100,000 people, so a 10% cut translates to 10,000 layoffs prior to that e-mail tesla also had about 5,000 job postings on linkedin from sales in tokyo to engineers at its new berlin gigafactory. the news is causing tesla stock to take it on the chin today down about 8% and musk warned in recent weeks about the risk of a recession but this e-mail ordering a hiring and staff kt archdiocese cuts is the most direct and high profile message we've seen. today though president biden bushing off elon's bad feeling about the economy. >> ford is increasing through investment, overwhelmingly. i think ford is increasing the investment and building new electric vehicles, 6,000 new employees, union employees, so, you know, lots of luck in this trip to the moon. reporter: well the calm ceo sharing similar sentiments of growth with fox business but of course many tech and banking ceo 's including jamie dimon warning of a gloomy future.

now so far tesla is not seeing slow downs, demand has remained strong and many traditional indicators have not materialized so musk's decision maybe an attempt to get ahead of a slower delivery ramp and let's also remember in the midst of this twitter acquisition that has spooked tesla shareholders so really any dip in performance whether recession caused or otherwise will face intense scrutiny about his ability as a leader so he may be trying to get ahead o of that. neil: but it was just an odd out of the blue comment. kelly, thank you very much for that. we're learning a little bit more what his thinking is at tesla, that is elon musk. for example, he says these job cuts when they do happen will not effect people actually building the cars, so the rank-and-file work on the factory floor nor will it effect battery packs or installing solar, any of those areas, that this is a head count issue when all is said and done, again we just don't know which heads he's counting here, if that were to happen, and how we would go through with this. so we'll keep an eye on that and

the mere free fall in the stock today down about 61 bucks at around $713 a share, in the meantime, who do you believe then, elon musk and his characterization that things are looking pretty bad, or the president of the united states indicating earlier today that things are looking pretty good. let's get the read right now from edward lawrence following all of that at the white house. edward? reporter: hi, neil, and to continue with your elon musk theme the president says good luck with his trip to the moon, when he was asked about those economic comments from elon musk. now, the expectations were beat on this jobs report, 390,000 jobs added back in may but the unemployment rate remained the same because as jobs were added to the economy, the number of unemployed also increased and that was why the unemployment rate did not move. now when you look at this , average hourly wages increased 5.2% year-over-year but add in inflation 8.3%, real wages for workers actually went down about 3%, so americans are finding they don't have as much

money as they had in their paychecks a year ago. some of the data within the report showing some weakness in the economy, like the loss of 61,000 jobs in the retail sector , with deals with consumer spending. still, president joe biden bull ish on what he has done with the economy, but lowering expectations. listen to this. >> as we move to a new period of stable, steady growth, we should expect to see more moderation. we aren't likely to see the kind of blockbuster job reports month -after-month like we had over the past year but that's a good thing. that's a sign of a healthy economy, with steady growth, rising wages for working families, everyday cost easing up, and shrinking the deficit. reporter: and shrinking the deficit was bound to happen because of all of the covid spending that help the economy has now stopped and he called inflation his number one economic priority, then pitched to more spending to bring down for some people, while blaming

the invasion of ukraine for high gas prices and food prices. >> if food and gas prices are going to be elevated by putin's price hike, one way we can make things a little better for families is high helping them save on other basic items their family needs on a monthly basis. like their utility bills, their internet bills, their prescription drug bills and other costs like housing. reporter: and that food part that's new, blaming the food increase in prices on russian president vladimir putin. he mentioned putin's 16 times in this u.s. economic address. the president blaming everyone else for the inflation we're se. back to you, neil. neil: edward thank you very very much edward lawrence following those developments at the white house. by the way i think i misspoke a little earlier when i talked about the latest month being the first in over a year that we dipped under 400,000 new job gains, because the march data was revised to a little bit under 400,000 and it actually occurred in march. be that as it may though the trend was basically the

economy's friend so things are beginning to slowdown at least the rate of increase we've been seeing in new jobs so i apologize for that i'll blame everyone but myself for that. that's a cheap shot. all right, the red apple group chairman and ceo, he does it all one of the things that was interesting, john's point of view last time he was here he's talking about, you know, the supply chain disruptions, and john, it's good to have you, because you were, you know, mentioning at the time how this could effect us, and how close we might be to the 70's experience, a couple of weeks ago at a big conference you were talking about the possibility of diesel fuel rationing. that harkens back certainly to the 1970s when all types of gas was being rationed, but what do you think? >> pardon, neil? neil: where do you see us going? you talked about gas rationing and diesel fuel rationing, but

that's the next thing you fear. we might be on the precipice of that, then what? >> neil, there's a war going on north american oil companies and it's wrong. president biden is going to saudi arabia to beg them, to beg them to make more and send it over. we're negotiating with iran, through russia, to send more oil over. we're negotiating with venezuela , through russia, to send more oil over. we've got all the oil we need in north america, but i don't understand why the white house is not doing it, and all our factories, neil, 70% of our factories and deliveries to stores for the whole country, 70 % comes from diesel fuel, and diesel fuel, the price has doubled in the last 12 months, seven months, eight months, you pick it whatever you want and it's going to go even higher

because we had that discussion. oil was 100, $105 a barrel. right now, it's pushing $120 a barrel, but the american people are hard working people. they do not want a recession. a recession does not have to happen. jamie dimon says beware of the hurricanes. the hurricane possibly coming. elon musk says well, i'm going to cut my payroll. the weathermen are wrong 50% of the time too. i don't think a recession, we can stop this recession from coming. all we have to do is increase our own oil production, because if we don't, and they keep increasing the price of oil overseas, and we're taking the american people and getting poorer, they're getting richer, and what else? powell is going to increase the interest rates to balance

out inflation. how do you say that's a lot of crap? neil: okay, well let me ask you about this , john. obviously, you referred to -- >> let me finish the sentence. neil: i just want to focus on something that you touched on. the idea that elon musk wants to cut 10% of his staff, that you run a multi-conglomerate empire. are you looking at doing the same? >> no. not at this point. our retail sales are good. we have all the oil we need, because we've got through a pipeline in canada. there's no shortages in canada, so we don't have any problems like that. where are we hurting a little bit? getting enough products to build new buildings the way we're building our real estate company is building buildings. now, and most prices are going up, but they will stabilize. there's no reason for a recession. we're going to cause it if we raise interest rates high enough

, because half the economists in this country and they're all friends of ours, neil, are saying raise interest rates. it's wrong. if you raise interest rates right now, you're going to wipe out the economy that way. neil: so john, let me go back to this because you're putting your money where your mouth is here, in terms of your business is surviving and doing well, thriv ing. enough, i was reading recently that you planned to pursue mixed use building in chelsea, new york, of course so that shows some optimism on your part, so why continue to expand or build or look at new initiatives in an environment like this? >> well here's what we're doing you have to read through the lines, and jamie dimon is not wrong. the hurricane could come. if they raise interest high enough they're going to wipe out the real estate industry. what we're doing instead of spending a billion dollars

building new building, three new buildings we could build in coney island instead of spending a billion dollars doing that we're spending a hundred million here and a hundred million here which is not a lot of money. in other words i haven't pressed a button on a billion but i'll press the button on a hundred million. neil: so you, by doing this in new york, are you showing your confidence in new york? >> i don't want to show my un confidence. i want new york, we love new york. new york is the greatest city in the world. we want new york to survive and i think everybody has to work hard to make sure we have common sense politicians that want to do the right thing, and that's what we need. common sense democrats, common sense republicans that'll say enough is enough with this crime situation. how do you tell people to come back to work if they're scared stiff about riding the subways? neil: good points all, john,

very good catching up with you. we're going to take a quick break here just want to fill you in on a news item coming in kind of expected, peter navarro, former top adp advisor to president trump, he has been reducing to talk to the january 6 committee and indicted for doing so, we'll have more, after this. meet jessica moore. jessica was born to care. she always had your back... like the time she spotted the neighbor kid, an approaching car, a puddle, and knew there was going to be a situation. ♪ ♪ ms. hogan's class? yeah, it's atlantis. nice. i don't think they had camels in atlantis. really? today she's a teammate at truist,

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neil: all right, the president taking to the airways last night to make his pitch for outright banning assault weapons or getting in the hands of anyone under a certain age, 21 seems to be the rule of thumb right now, and also, dealing with magazines that allow you to have them and the ability to shoot, you know, hundreds of rounds in a matter of minutes. let's get the read on how this is being received on capitol hill right now, where both sides are talking about finding common ground. i don't know where that stands but i have a pretty good idea, aishah hasnie joins us from capitol hill. reporter: good afternoon, let's start with the president, because he has said on camera he wants to talk to lawmakers about guns and just about an hour ago he was asked by a reporter, will you be heading to the hill next week to do that, in-person, and

he could not give a clear answer , watch. >> my staff is dealing, has been dealing constantly with every member of the house and the senate who have wanted to talk about guns. its been a constant interchange and i've been constantly briefed i'll do what i can to try to see we have real progress. reporter: okay, so biden wants congress to act, but members of his party are not on the same page on how to do that. late last night, democrats on the house judiciary committee advanced the protecting our kids act. it's sweeping new gun control legislation. it's the first to get a hearing since the uvalde school shooting and among the many reforms, neil , it includes raising the minimum age to buy a semiautomatic rifle from 18-21 and it bans new sales of high capacity magazines. as democrats even threaten to blow up the filibuster and pack the court to get their way.

>> filibuster obstructs us? we will abolish it. if the supreme court objects, we will expand it. >> now we know where they want to go. their real beef is with the second amendment. reporter: so, a totally different approach happening in the senate, neil. members of both parties there are negotiating behind closed doors on a framework that everyone can get behind, and those talks include red flag laws, mental health, and school safety and also background checks, but neil, again, even if senators are able to get through all of these hurdles, if they're able to strike a deal and announce something next week, it's still unclear if those on the far left, those on the edges , the outside of the house are going to go for anything that they are going to deem to be watered down just not going far enough. neil: it is a mid-term election year, thank you very much for that to phil wakeman, real

clear politics white house reporter. phil, where do you think this is all going? >> well it's hard to say because frankly there wasn't anything new in the president's speech last night. each of the proposals that he backs, he had previously supported. i know that there's a lot of attention on increasing the purchase age requirement from 18 to 21 but after the texas shooting last week even the president floated that so it wasn't like chill was waiting around with baited breath to see where biden was going to come down on this question and frankly it sounded like a cynical query when peter doocy asked the white house press secretary about it but it seems like he asked her if they had scheduled this primetime address at the last moment to distract from some of the other difficult headlines that the president is dealing with such as the baby formula shortage, or the inflation crisis. neil: i'm just wondering for the administration, and for republicans, how important is it for them to get something that each side might not flip

over, but it's moving the ball forward. in other words, finding a middle ground that you don't get all you want, but you get something. >> well the high bar for the president, and we've known this for sometime is that he wants to ban assault rifles and he also wants a ban on high capacity magazines. i don't think a lot of republicans are going to go for that and come on. if history is any guide here, the president should know this better than anyone else. after all, he took point the last time during negotiations when he was vice president. this is a heavy lift. the political arithmetic isn't in democrats favor here. what's different though is that biden, he took this directly to the american people by saying, you know, you know what i'm for. let's see what congress does and he made this explicitly political saying if congress failed that hopefully this would galvanize people's votes in november. neil: so the backdrop for this is the president, of course, has been dealing with

the sputtering of inflationary news here and the fact that now we have a jobs report that seems to indicate at least we're slowing down from some of what we've been seeing. i'm just wondering whether the concerns are mounting that he's got to get ahead of something and this issue is one that he could. >> that's right, and i think that there's an eagerness here, because this is something that president biden, you know, he speaks with empathy and working this issue in the past but yeah, the crisis are mounting, and i think that whether it was covid last year or the chaotic withdrawal from afghanistan, or now war in europe, or linger ing inflation, i mean, there are white house staffers who are sort of joking underneath their breath, what's next? instead, they got a baby formula shortage. i think this is one area where the president can say, you know, i have a plan. i think it would completely fix this. it's not me that's standing in the way.

it's congress. neil: you know, we often make a big deal of the president not taking ownership for any of the inflation, for the afghanistan thing, a long history of saying, you know , there are other reasons. that might, in fact, be accurate but again, and again, what we see is an unwillingness to do what janet yellen just did, and that is saying i goofed. i was wrong. is it too late for that? are you getting word now the president is never going to do that? >> well, he certainly isn't going to take his foot of the gas when it comes to spending. i asked nec director brian deese about this proposal to forgive as much as $10,000 in student debt for any family making $300,000 and if that would effect inflation. remember liberal economists such as larry somers said that the problem is theres too much money in the economy currently. deese said well we don't think this will have an impact and it'll be quite small. there doesn't seem to be a appetite for moderating, and on

the inflation question in particular, they were pressed. doocy pressed the white house just yesterday. if the president or if deese or any deputies were going to say just as yellen did that they did get it wrong, that inflation wasn't transitory and they hedg ed on that. meanwhile, they're moving forward with more spending. neil: phil wegmann, very good seeing you thank you very much, phil, i appreciate it. in the meantime you can see the bottom of your screen the dow down over 300 points, interest rates backing up the 10 year note closing or getting very close to 3%. we're on it. ♪ (vo) while you may not be closing on a business deal

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neil: all right, wasn't it on wednesday that china was doing

the great reopening in shanghai, that the covid problem was over, and the lockdown was done. now, of the 25 million residents there, who were sort of freed from their homes another 2 million are back in their homes, amid some spikes in cases there. it's still a relatively small number, the scheme of things but it reminded people how jumpy this whole covid situation is. something i brought up with dr. deborah burks yesterday talking to her and she said like anthony fauci you never know when you're over something because right now we're not over this , and of course there are opinions, not everyone agrees with that especially to mask up and do some of the things china has been doing but nevertheless the debate rolls on and on and on so we'll keep an eye on that also keeping an eye on the message we're getting right now from saudi arabia and all the big opec and opec plus countries i think there are 10 in opec and 13 of the opec plus countries all agreed to increase production beginning next month to the tune of about 638,000- barrels a day. it's a good start, many say it's

a preview of coming attractions where the saudis and the u.s. are going to try to de chill things maybe including a visit from the president of the united states to saudi arabia. he's sort of went back and forth as to how imminent that might be let's get the read from lucas tomlinson following all these fast-moving developments at the state department. hey, lucas. reporter: hey, neil. with the price of gas now double what it was when the president took office biden is expected to meet the saudi crown prince later this month after visiting israel. the president was asked about his potential trip a short time ago. >> there is a possibility that i be going to meet with both israelis and arab countries at the time including i expect be saudi arabia be included if i did go, but i have no direct plans at the moment. reporter: so he didn't rule it out, neil, as presidential candidate biden once called saudi arabia a "pariah" and the saudi crown prince better

known by mbs is responsible for the murder of journalist jam al kashoge. the apparent refusing to kick start, the white house is applauding saudi arabia's decision to pump more oil. "the united states welcomes the important decision from opec plus today, to increase supply by more than 200,000-barrels per -day, in july and august, based on new market conditions. " here at the state department secretary blinken was asked about the president's potential trip. >> when we came in, president biden was determined that we recalibrate the relationship with saudi arabia, and to make sure that that relationship was serving our own interests as well as our values as we move forward. reporter: now, one plan being floated, neil, is for the president to meet the saudi crown prince and uae after that visit to israel. neil? neil: do you think it'll happen, because of all of the thins that have been said back and forth,

but i guess, you know, politics is strange, right? reporter: it seems that's an implicit agreement for saudi to ramp up oil production is for the president to have this meeting which mbs wants and had snubbed biden previously neil: great stuff. not the news is great, you doing a great job reporting i mean. thank you very much my friend lucas tomlinson at the state department. mike somers joins us again the american petroleum institute , president and ceo. mike you and i were just talking about this long ago that when you're indebted to some of these guys in saudi arabia to say nothing of opec, it don't necessarily, you know, favor us that much, especially when you have a lot of the stuff that they have, it's weird. it's just very very weird. i guess beggers can't be chooser s in this environment, but we're sucking up to a kingdom that now has all the cards. >> well, neil, what it really does speak to is the importance of us actually having a

comprehensive energy strategy here in the united states, that advances, yes, oil & gas, but other sources of energy as well. neil: i'm glad you did, but we've been saying it here on the show. don't choose one or the other. be all-in on everything. go full throttle. all interview sources but don't sacrifice one over the other. >> absolutely. i mean, the world's going to grow by 2 billion people by 205g to go up by 50% by 2050, we need all energy sources to power our world's economy. i do think it's a shame that the biden administration thinks it's important to visit saudi arabia when he hasn't yet met with oil executives here in the united states to talk about the importance of american energy independence, and that's what we should be focused on in this time of real energy crisis throughout the world. neil: as i'm speaking to you my producers are alerting me to american airlines. their shares are down even in the face of robust demand forecasting for the rest of summer travel season but the

shares are down more than 7% after the company said higher fuel costco really put a donald trump on this , playing out again and again and again, isn't it? >> well and again, this is why the united states need to focus on a long term energy strategy, because the decisions that we're dealing with right now weren't just made yesterday. they really started a few years ago and the importance of us focusing on a policies now that are going to take us to the future is really really important. just yesterday, neil, the environmental protection agency came out with a new regulation that is actually going to hinder american pipeline development. we have the energy here in the united states. we need to connect it from where it is to where it isn't, and unfortunately, the administration continues to put pressure downward pressure on american pipelines that really are going to supply that energy of the future, so this isn't just an issue for the oil & gas industry. it's going to be an issue for renewables as well, and when

the administration puts in place new regulations on nepa, which could lead to decades and decade s of delay for american infrastructure development, it hurts all sources of energy, so that's why when we talk about this , we talk about how do we become north american energy independent but it takes a strategy. one that we just don't have in this country right now. neil: so real quickly, mike, i hear from a lot of oil industry titans, yourself included, that they just have an inherent distrust of this administration because they have been blamed for gouging and working in concert to screw the customer, and even though this has been investigated what a dozen times over the last 40 years, they've never found an inkling proof of that but nevertheless it drags on and on and on and they don't want to be pinatas in a visit to the white house so what does that mean as far as the administration and the industry finding a way out

of this? >> well, neil, tone really matters here. we need administration that actually is focused on that energy future that i talked about, and when you have an administration that says that we're not going to be using oil & gas by 2030 you aren't going to get the investment you need in the industry. we've built a new refinery in this country since the 1970s and one of the real constraints that we have right now is that we've lost 11 refineries from where we were pre-pandemic and a lot of that is because of government policies, not because the markets didn't work but because of government policies, so we need to make sure we have a government policy that actually advances american and canadian energy independence, not one that really puts its foot on the throat of that independence. neil: wild stuff, wild times, mike very good seeing you again, mike somers on this issue right now, and again, that is the big concern that these prices will continue going up but if you think problems are really severe here, do consider this. right now turkey has an inflation rate of about 73%.

ours is around 7-8% just by comparison. ukraine now north of 30%. in fact in the case of ukraine, they just raised their key interest rate from 10% to 25% to deal with that, as if they don't have other things on their mind. sometimes when a problem starts, it has a way of not stopping. stay with us, you're watching fox business. another crazy day? of course—you're a cio in 2022. but you're ready. because you've got the next generation in global secure networking from comcast business. with fully integrated security solutions all in one place. so you're covered. on-premise and in the cloud. you can run things the way you want —your team, ours or a mix of both.

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transgender policies, drawing heavy criticism and a lot of emotion today. the department of agriculture controls the purse strings on $14 billion in school lunch funds that feed 29 million children across the country every single day. many of them, of course low income. now the food and nutrition service saying this. a key temperature in advancing these principles is rooting out discrimination in any form, including discrimination based on sexual orientation, and gender identity. we must recognize the vulnerability of the lgbtq i plus communities but there are critics out there that say this initiative will hurt the people who can least afford it. listen. >> what it's ultimately doing is holding school lunch programs for needy children hostage through a woke sexual orthodoxy in practice in american public education, so the impact is going to be significant. gerri: in practice, she says,

the policies could force schools to allow transgender students to participate on the sports team of their choice. we've seen that, use the bathroom and locker rooms of their choice and be referred to by the pronoun of their choice. all right, tennessee has led a lawsuit on behalf of 20 other states, suing the department of education over its notice of interpretation, and south dakota governor kristi noem threatening a lawsuit saying this on twitter south dakota will continue to defend basic fairness so that our girls can compete and achieve. meanwhile, florida governor ron desantis saying he won't allow biden to force floridians to choose between children's food and parent's rights. as i send it back to neil, i'll just note, you know, this year marks the 50th anniversary of the passage of title ix, the federal law prohibiting sex- based discrimination and the basis for the extension of these trans rights so a little bit of history for you, neil. neil: that's true gerri thank you very very much for that keep

us posted on where this is going we're still following only in the middle of it right now in great britain, of course celebrating the queen's 70 years in power, no monarch on this planet has ever served longer no matter the country but for my money its been watching these shots of the family events , especially harry and meghan. if you've been in certain families where you're reunited for a funeral or big event, a wedding, look at the table place am, look at where they put certain guests and look at how they ignore one another. we saw it and we have the video to prove it, after this. ♪ i had been giving koli kibble. it never looked like real food. with the farmer's dog

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>> watching a short of shakespeare play unraveling with this family, aren't we? >> we are. it's the royal families always been like a shakespeareian play for me, and i have to tell you, when i saw them going in, earlier on, i felt sorry for them, and the way they were parting from the family. >> but why should we feel sorry

for them, given the way they've trashed this family in public? >> i know that they kind of are making their living over, you know, talking about the royal family. neil: all right, sharon osbourne , talking about harry about meghan, and their treatment where they were ostracized at events, and rightly so, because they trashed the royal family, and that's that. greg palkot who avoids these, doesn't get into the gutter, he can tell us what's happening right now, day two of this platinum tribute to her majesty, the queen. greg how are things looking there? reporter: neil, good. a little bit more subdued today from yesterday's pomp and pageant are but this platinum jubilee celebration to queen elizabeth ii continues and had meaning and a little bit of soap opera drama. first filling in for the resting

queen at st. paul's cathedral. she felt a little discomfort from yesterday, her heirs, prince charles, grandson prince william during the service she was compared to an enduring race horse, remember she loves horses. it was added she is still in this saddle, and yes, back in the public eye, also attending the service, prince harry and meghan's first time the two of them have appeared together at a royal function, in the two years since they've left the uk. it was reported there were someb oos from the cub crowded around st. pauls but frankly i heard cheers and a bunch of bells. inside the church though, neil, yes it was absolutely careful stage-managed. charles and william kept to one side of the church in one row, harry & company in the second row on the other side. following the service, there was a lunch at nearby ceremonial city hall, the queen skipped this one too, and in attendance, uk prime minister boris johnson, several past prime ministers,

all of them remember took orders from the uk's head of state, her majesty. she has seen 14 prime ministers. she's also, by the way, seen 13 presidents of the united states and by the way, neil, according to just about every newspaper on the stands today, aside from the queen, the star of yesterday 's event was william and kate's youngest, the very expressive four-year-old louis and his 96- year-old great grandmother, appeared to get get along swimmingly on that balcony. tomorrow there will be a horse race we've just learned that sadly the queen will be skipping that one too but it was pretty much expected and a pop concert sunday, street party and a pageant right in front of buckingham palace. we are all hoping and expecting to see the queen at least one more time on sunday. a lot of fun. neil: thank you, my friend. you outlined it beautifully, greg palkot in london on that. i love talking to charlie langst

on, the daily mail .com, female editor because she shows her passion and certainly knowledge of anything royal which goes way beyond mine , and by a factor of a thousand. great to have you back, charlie. i notice the things that people might say are tacky and neil, why are you focusing on that but this whole harry and meghan thing and seated on the o o sit side of the church, someone planned that seating arrangement they just don't stumble in and sit anywhere. who? >> absolutely and i think the way that you described it kind of comparing it to seating at a family wedding was spot-on. not only did the seating plan really ensure that harry, meghan , william and kate were kept very far apart from one another but it also really put harry and meghan in that place. not only were they seated in the second row where previously they would undoubtedly have been in the first, they also had to fall way back in terms of the

order of importance when it came to the royals leaving the church. we saw charles, we saw william and kate. we seen saw eugenie and beatrice leave before harry and meghan and that was done to ensure they were held back and didn't have to have awkward moments with william and charles in front of the camera, it also really served as a very clear indication to the entire world as well as to harry and meghan of just where they now sit in the royal pecking order. neil: you know what's wild about it, i mean, i was wondering what is the chemistry dynamic with the two brothers with harry and william. we're told william was flabergasted when he heard his brother and meghan talking and the racist royal family and by extension, hey that includes me, it's not fair, it's not right but they can't get over it and neither side is getting over it. >> well, and you have to keep in mind that while that kind of

quote, that interview with oprah , really set this whole thing on fire. it has continued to burn not purely because of how sensational it was but because new information continues to come out. we've got harry's upcoming member war hanging over the entire jubilee like a very dark cloud. harry and meghan are also reportedly filming a netflix reality show and had cameras following them in new york and cameras following them in the netherlands, so it a little bit difficult, i think, for everyone else in the royal family to just shrug their shoulders, forgive and forget, when they have to deal with the prospect of more allegations and more truth bombs as they've become known being dropped in the coming months. that's not something that you can just take off when going around constantly afraid of what one of your closest family members might say about you to the entire world. neil: you know if i'm prince

charles, we don't have much time but i want to pick your brain on this , charlie, and my know i son will have potentially a tell -all book by the end of this year, and i could be on the verge of assuming the thron e myself, i think they call that awkward. >> i mean, i think awkward is about as nice as you can possibly be about it. to be completely honest with you if i was charles i be absolutely furious. charles is not going to have an easy assent to the thrown, he's not beloved like his mother is in the uk so he's already going to have a difficult time winning over the british public, and you add to that the fact that his own son, his own flesh and blood, could very well drop a biography filled with different bombshells and allegations, at the same time that you're doing your best to try and prove you'll be a wonderful monarch. that really is just a kind of explosion waiting to happen and if i was charles i'd be incredibly nervous about it and also, very frustrated and angry

with harry. neil: yeah, he's probably both. charlie, you're terrific and i learn a lot but i really get excited when i hear you talk about this because i didn't know anything about this. apparently they're all royalty. thank you very very much, very good seeing you again, charlie l angston. neil: it's a bloody mess, these markets, after this. what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. .. become an agent of innovation with invesco qqq (vo) singing, or speaking.

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neil: you will be paying more for gasoline. it doesn't end here. $6 gas not out of the question by the end of this summer. don't know if that will happen but we have you covered on this. kelly o'grady on how private -- how high the prices could go. hillary vaughan on how those prices are putting a strain on back to work plans. first, killian la. >> reporter: you mentioned $6, you can see over my shoulder that would be a really for us in la. the first weekend of june, normally people are excited for weekend getaways, a trip to the beach but this marks 7 straight days of record gas prices. overnight the national average jumped to $4.76, that is to cents shy of double the price

of when president biden took office. that means an extra $33 every time you fill up in a world where everything costs more. the administration is defending its efforts with national economic council director brian dietz arguing tapping the strategic petroleum reserve reduced the brunt of price hikes providing little relief and the president blaming russia for the spike again, gas prices have increased, i want to point out half of this occurred before the invasion and folks are seeking answers. >> jobs in seamy valley, because i can't afford the gas buddy and making enough to cover the gas money essentially. >> every single day costing $106 a week. >> it is a bummer. we will figure it out. >> reporter: in a stark turn of events hopes are resting on opec, the coalition announcing it will increase its oil supply

hikes by 50%. ministers agreed should add 200,000 barrels in july and august but growing specter schism that this will affect pain at the pump. and second opec increase will likely plug a whole from your buddy deb russian oil band but not increase supply from current levels and i want to drive home how bad it is, $6.99 a gallon for regular, a 14 gallon tank, close to $98. i will try to stay in this weekend. neil: if this gets out of control how do you deal with $10 gas? it's not on think of lenny more. thank you very much. kelly o'grady following that. hillary vaughan, this is putting a strain on average americans and those looking to return to work. >> reporter: in january the

president said in the state of the union address it is time for people to go back to work and start working remotely but that was back in january. since then gas on average per gallon is $1.30 more expensive and a lot of people are saying they can not afford to show up to the office but the president said today that he gets that people don't care who is to blame for this rise at the pump but are more worried what is being done about it. >> president biden: i understand families who are struggling don't care why the prices are up, they just want them to go down. it is important that we understand the root of the problem so we can take steps to solve it. >> reporter: until the price of gas goes down some google employees are protesting showing up to the office because of the cost of commuting. alphabet's worker union tweeting when you are not paid enough to make it to work there

is a problem. some of google's contractors say the cost of gas will wipe out their paycheck writing a petition gas is around $5 a gallon currently and many of us in the office are not able to afford to live close to the office due to our low salaries and high costs of housing. 22% of americans commute 30 minutes or more to work every day according to batista. some companies opted to lure their workers back to the office by offering extra perks like free parking or free lunch. black hock network and e-commerce surveyed businesses and found most workers looking for more pay to go to the office. republicans say president biden's attempts to lower prices so far are not working. >> people paid the price all memorial day weekend, all time high prices. who are they going to believe? president biden talking at the more their own two eyes and empty wallets? >> reporter: the bottom line is

workers of saved a ton of money not showing up to work. americans together saved $750 million a day not commuting to work during the pandemic in 2020 and that was two years ago. think about the money americans are saving not going to work now when gas prices are so high. neil: very little incentive to change those plans. elon musk is saying things like super bad economy, he has said to jettison 10% of his staff, reaction from gary kaltbaum. good to have you. what do you make of what musk is saying? it follows on the heels of 60 some odd technology companies most of them on the smaller side doing the unthinkable or something that seemed unthinkable a few months ago,

laying off workers. you hear more and more about companies like coin base extending a hiring freeze and taking back promise job offers. what is going on? >> thanks for having me. this is what the recession playbook looks like for businesses. first thing you do is cut discretionary expenses when time gets tough. a good example would be advertising through snapchat. the second thing, you stop hiring, remove the job postings that are out there. we saw the jolts number. it is still sky high but it didn't drop from 11. 8 million down to 11.4 million. in past recessions that number comes down to 2 to 3 million in the third thing you do is cut your lowest roi employees. with that? the people you poached from the competition. last year, the year before, for 20%, 30%, 40% pay raise.

look at yesterday's data, labor costs up 12%, productivity down 7%. you don't have to be great at math to know that smells bad and smell like a recession. neil: return on investment, a lot of bosses will start crunching numbers and saying you are not worth it. >> you are overpaid, yeah. i think that is a huge issue businesses have to look for. neil: how bad does it get? when we had these jumps, pains me to say these could be short-lived so this week i don't know how it's legals up, we are trying to avoid a down week. the nature average, that is what we are facing after the run up last week but where are we for the markets, taking all this in? >> we are in a rally that is hitting a bump right here.

for me the big worry the next six weeks is the tesla, that had an 81% growth year-over-year last quarter, 65% the quarter before, talking about freezing hiring and firing 10% of the workforce. what does that mean for other auto companies? what does it mean for other semiconductor companies that the such big business with oil companies and then we are talking the food chain as we head into earnings season. i'm worried about guidance in the third week of july. who is going to warn, why are they going to warn, microsoft talking about the strong dollar, had a salesforce.com strong dollar, who knows what is next and who knows what is what and the bottom line is about cost of everything through the food chain has gone up and gone up markedly and vertical over the last ten

months. that is something of the market has to deal with as we move forward even though i think we are in a countertrend rally mode notwithstanding today. neil: on that issue we talk about guidance and that is what the market trades on regardless whether earnings beat or didn't beat the estimate. not all companies are saying things are going to hell in a handbasket. the airlines, americans stood out by saying businesses were bused, demand was superstrong but so are wheel prices so it couched it a little bit but most in the hospitality industry, travel industry, services, they seem to be hinting of no disaster for the time being so i am wondering if it is appreciated. what do you think? >> last week or the week before you heard some strong guidance from nordstrom, from macy's.

my own pinion is there is no way they will hit that guidance. i am getting my cues from the fed, politicians have been lying to us about inflation being transitory. i want to get my cues from the mainstreet business owner, every single day and almost all of them think we are in a recession or will be by the end of the year. i had a client ask me if i thought recession was coming, you tell me you are seeing it firsthand what is going on in your business and his response to be is over the last two years we've been paying all of our employees over time to get the job done for the last two months we have been sending them home early and that doesn't bode well for mainstream small businesses and they tend to be a canary in the coal mine. neil: are we in a recession now?

the first quarter, assuming they are still negative, that would meet the technical definition, 2 back-to-back quarters. in that position now. >> if we are above the 0 line for this quarter, i don't think it will be a surprise but don't think it would be good. near the 0 line, when we bring up nordstrom and things like that i am looking at a 1-2 punch of savings rates dropping through the floor and credit card usage skyrocketing at the same time. that tells you everything you need to know about the consumer over the next few months and if the consumer backs away there is your recession. i wish i had better news for you but i dealing facts and reality. one is going skyward and the other straight south but that's not good news.

stuart: both of you a little later in the show but thank you. in the meantime, with everything going on you lost sight of the fact that 100 day of the war in ukraine, 100 days ago, it has dragged on longer than vladimir putin thought but something else is missed, he's got more of the country than he had. where does this go? after this. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do.

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to join the over 2 million people who have found the right way to lose weight and get healthier with golo. neil: we talk about mineral stockpiles in the world but they go into a bunch of things, lithium, cobalt, defense equipment and the like and here's the rub. we discovered the china monopolizes these minerals and stockpiles. now we want to do something about that to expand the pool. jennifer griffin has more on that. >> reporter: the chinese government requested a meeting with lloyd austin who will be in singapore for a high level defense meeting to discuss,

quote, managing competition. that includes an area of national security concern that until now has been overlooked, china controls 90% of rare earth minerals which are used in nearly all the equipment the us metairie relies on. f 35 fighter jets, abrams tanks, surface to air missiles, handheld radios and cell phones are rely on rare earth minerals, 17 elements used in high-tech electronics, if the supply chain fails planes will stop line, tanks will grind to a halt and the us military may have trouble communicating. if china were to cut the us from its supply chain, within a year the military would run of elements to make its weapons according to senator tom cotton. >> so important that we not just stockpile the minerals for the military but we develop domestic mining and manufacturing capabilities for all american industry. >> we cannot continue to rely

on our adversaries, especially china, to get these critical minerals. >> it has rare bipartisan support. senator tom cotton, republican of arkansas, and mark kelly, democrat of arizona have introduced legislation to create a larger stockpile for the us military and creating more extensive's to my news minerals in the us. drew horn is a former green beret and a founder of green energy supply chain company. >> and credit. difficult to bring it all together in a way that leads to a meal because you are talking about essentially creating a vertically aligned supply chain the now only 15 china. >> reporter: the defense department subeditor to legislative proposal to the house armed services committee asking for $253 million to build up a bigger stockpile. the pentagon also recently

announced a rare-earth element award to strengthen the domestic industrial base. neil: thank you very much. this has been a big issue for congressman mark greene who was kind enough to join us right now. i know there are a number of us minors who are concerned they could get bypassed in all this in an effort to spread the wealth beyond china. what do you tell them? >> we are pushing for them, supporting them in tennessee, we have a large supply of titanium and right now boeing airlines buying their titanium from russia still. what we are trying to do is make sure they get the support, we've got to change the supply chain because it takes a vertically integrated supply chain to make this happen, 90% of it is in china, 16 of the 17 rare earths are controlled by china so we have to get on the ball and get this done. neil: have the chinese been stingy with it? the demand for this sort of

stuff but have you seen indications that they know they've got a lot of it, most of it when it comes to lithium for example and going to take full advantage of it? >> we are concerned with the conversation with secretary austen and what the chinese are going to say, we are having briefings on that in congress right now but so far the market has not been stymied by them on price or supply. neil: let me talk about the hundredth day of the war in ukraine, it is lasting longer than vladimir putin thought but he has upped the ante, even by president zelenskyy's estimates controls 20% of the country, a little more if you include crimea. i am just wondering what that says of his future ambitions, a where down to gain more ground?

>> following put now strategic objectives is difficult. i said but he hasn't achieved a single strategic objective, tactically the past week has been bad for the ukrainians, russians used another city, they seized a good portion of 1/3 city in the donetsk region, in donbas fake are not able to maneuver on the ukrainians so it is sort of small victories and small defeats right now on a tactical level but russia has not achieved its strategic objective. neil: i like to pick your brain on this stuff, you don't have to share every detail of that but we hear reports of vladimir putin is a very sick man, he might have terminal cancer, others saying he is dealing with a variety of illnesses. is it true his health is compromised and is behavior proves it?

>> from a behavioral health standpoint anytime you isolate yourself, remember the edgar allan post story the fall of the house of usher which was representative of the mind of roderick usher as he isolated himself further into the home that isolation resulted in his insanity and fall and vladimir putin has done something small, has very few inputs, doesn't come back to the kremlin, that affect his decision-making. there' s nothing i can say right now but clearly behaviorally that isolation has made some bad decisions happen. neil: when vincent price played that role it didn't go well. thank you, be safe this weekend. congressman mark green of the foreign affairs committee, combat veteran serving very well.

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>> president biden: corporate executives on earnings call with investors on wall street sharing record profits. to explain how they are using this period of inflation to cover the rise in prices far beyond what they need to do to cover the costs. >> look at the oil industry, the meat industry, look at

groceries generally. what has happened is these companies have said we will pass along costs but while we are added and everyone is talking about rising costs, let's add an extra big dollop of cost increases to expand our profits. >> oil companies should also do their part in ensuring they are not price gouging customers at the pump. as oil prices come down show should gas prices at the pump. neil: it is not supply and demand factoring into price increases we've been seeing, to goose the system, plenty of reasons to doubt that. in the oil industry they conducted probes are better than a dozen to look into just this issue, cabal gouging consumers, not once of they found proof of that and what markets and he was saying, much the same things at moody analytics, he did say there's no sign of a significant factor in high inflation we are observing is caused by price gouging. i'm getting to the gist of it.

always good to have you but the back and forth can continue on this, we look for villains and there might be a few out there that we don't know, but this is a bigger issue coming out of justin economy no longer in park and prices and demand are going to run up. how is this morphed into price gouging? >> good to be with you. it has been a while. there's a long list of reasons inflation is so uncomfortably painfully high. the top of the list is the russian invasion of ukraine and the surgeon oil prices, pandemic is second. the bottom of the list or not on the list, price gouging. i don't think that is a factor here at all but of any consequence. having said that i think it is appropriate for the

administration and congress to shine a bright light on pricing practices of businesses because some industries are concentrated and could be taking advantage, nothing wrong with calling them out and making sure. but i don't think that is the issue. i think it is the russian invasion of ukraine at the top of the list. we 20 where are we going from here? if you follow fundamentals, supply and demand and supply chain and all that, how high is high? do you get any relief knowing the rate of increase is slowing? >> inflation has peaked, the peak was probably in march, consumer price inflation was 8.5%, 8.6% which is out of bounds. it does feel the pandemic is winding down, labor markets, we saw in today's job number,

labor supply is improving and i'm hopeful the worst of the economic fallout of the russian invasion of ukraine, oil prices jump with the european union banning russian oil, i am hopeful that is the peak. if that is the case then by this middle of the year inflation will be closer to 5 and by this middle of next year, 2023, close to the federal reserve target of 2. 5% depending on which inflation measure you use. neil: how high would rates have to go to get that? >> exactly what the fed is telling us they are going to do. the federal funds rate is at 1%, the reason they control. they are telling us point blank as strongly as they can there's going to be a 2% by the end of the year. by this time next year closer to three. if they stick to that script, the pandemic and russian invasion don't go off the rails, big ofs, if that happens we get that inflation, we will feel better about things a year from now.

neil: what about housing? you made headlines when you talked about the housing industry being in a full-blown correction. when we heard of correction with a stock, a slide of 10% off of highs. when we talk about a bear market, 20% or more. 10% or over camp? >> not for house prices, different scale of things, stocks, prices, the last transaction so they can move up and down all around. housing market doesn't work that way but i expect it to go flat here and go sideways over the next year or two, incomes and construction costs catch up which does mean big part of the country will experience price declines particularly the ones that got most juiced, the low mortgage rates and remote work dynamic. this has to happen because the fed is going to slow the

economy it has to work through the most interest rate sensitive sectors of the economy and the most rate sensitive is housing. of housing doesn't corrected then it is going to be difficult for the fed to slow the economy and quell inflation. this is what has to happen for the economy to go where we needed to go. we 20 prices are still spiking. could be the last straw before this closes down, new listings going on, 60% flip in the latest period, more people putting their homes on the market to take advantage while the getting's good. where do you see that going? >> the first sign the market is cracking, home sales have started to weaken. people, listings, if you go back 4 to 6 weeks ago you couldn't find properties, now you can in many markets and the next step is for sellers to say i can't sell this home at this price and start bringing those prices down.

it will take some time. it doesn't happen in a month or two, because people think in their minds their home is worth what they saw on the still low at the peak and they will be reluctant to sell their home at less than fat. it will take time for people to figure out they need to sell their home they have to cut the price. neil: we have to talk more often. i enjoyed this conversation. i enjoy thinking on where we stand, good seeing you again. charlie gasparino is aware of how things are going and you can usually find him at a fancy italian restaurant or bistro. this tends to be his restaurant of choice, on the upper eastside. a whole-wheat fettuccine, as far as i know still has crabmeat and truffles i think about what are you doing there and is it on your expense account?

charles: it is on fox's expense account. but i am here because this is a wall street hang out. all the major players eat here, and i am here with someone who is conceivably a better economist than jerome powell, giuseppe bruno, the owner and chef. a year ago we were sitting right here on neil cavuto's show and i asked you if inflation was transitory, that is what jerome powell was saying in president biden was saying and you said no way, you wanted to use an expletive but you didn't. these prices are going to be high for a while. do you see any abating of higher prices? you have to buy the stuff and prices are going up.

>> we knew, i knew the policy the administration was putting on us was not going to work, it wasn't realistic. the old theories that it didn't make sense didn't make any sense so it got up to hear and i think prices will still go up because we have a shortage of labor costs, higher than it used to be and it will be even higher because people want more money. we have a shortage of labor and we can't get the product from any place. if we want the product we got to pay more. before shortage of labor is an interesting story. give me some insight into this. hard to get people to work here and they want to work off the books, want to work for cash

and that hurts you in a sense. >> i ask why you want to work for cash? that is dangerous, would never do something like that but they said we pay too many taxes and we cannot pay these taxes because cost of living is too high so what they do most of them is have a job a few days and find figure out a way to find a job four five days in cash so when they come to us they would rather pay someone in cash and have somebody working and it is very dangerous. charles: do they collect unemployment? >> a lot of them collect unemployment. a lot of them refuse to pay taxes. the government has no idea because the government never had an idea what is happening on the streets, what we go

through every day. what the government should do, sent people into restaurants, into any business. let me see if so and so is on the book if they are paying taxes so we should all be saying no to people off the book playing that is paying cash, don't think that should be allowed. >> there still a need for workers but to be slowing down, job creation is slowing down a bit which means that might be better for restaurateurs like yourself, small business owners but still we have inflation. are you passing your inflation on to your customers yet? >> not so much. what i have here, i did not raise the price on food but

people are drinking a lot these days, drink a lot of champagne. charles: i am doing it all day. >> i have one of the greatest wine lists in the world. i make up in the booze. a lot of stuff like that. charles: one more question. you are obviously in new york city, crime is really bad. does crime affect your business or doesn't it? >> it plays a big role in new york city because new york city is a city where people come to the restaurant and come to a fund and people are worried about if people are sleeping all over the place and people are not scared. the mayor this morning i heard the mayor wants people to go back to work which i hope he fixes crime along with it because otherwise they will be scared to come to the city because it is not really nice. i live in new york for 40 years and i've seen better days, this

is not the better day, not a good moment for new york. we -- will use should figure out how to do it. i'm not the leader, i'm not the governor but i urge them to do it because it would be great in the long run. >> lower crime helps the business, helps the city. charles: i will have a meatball for you. neil: he gets it, he sees it upfront. that was riveting. if you can pick me up, the atlantic salmon, that is a keeper. you know, between us. wait a minute. all right. did he do that? i deserve that. (vo) while you may not be running an architectural firm,

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>> welcome back to coast to coast. abbott baby formula plant is expected to reopen tomorrow but this is not a quick fix to the baby formula shortage and that is because the company said it will restart production of one specific brand not impacted by the voluntary recall, that brand will be available as soon as june 20th but two of the big brands that were hit by the recall, abbott hasn't said when they will start production of that product and they said it will take 6 to 8 weeks once they do before that product actually hit store shelves. in the meantime the company has been shipping and formula from its facility in ireland, the biden administration has been working to get baby formula flown in from as far away as australia and the united kingdom and despite those efforts, the shortage has only gotten worse in the past few weeks. across the country that out of

stock rate is closing in on 75%. if you look at this map you can see some states have it worse than others. in some states, 90% or more of baby formula has been wiped off of store shelves, georgia and arizona getting hit the hardest and the department of health and human services is investigating the fda looking into their inspection of this facility which ultimately led to it being shut down. they are also looking into the oversight of the recall process by abbott so parents need relief on this baby formula shortage. some hope is on the way but it will be a while before shelves are fully stocked, we will be back with more coast to coast after this. ♪♪

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and go live your life. head to golo.com now to join the over 2 million people who have found the right way to lose weight and get healthier with golo. neil: i have a young staff. when they pulled that beauty,

you are not even alive when the song came out but touché to them, they are learning to appreciate when music was music but i digress, now talking about things that worry me including check lay apparently testing robotic delivery vehicles on the heels of elon musk saying tesla is not kidding around with this optimists robot prototype it could start using very soon. the future is now. i'm thinking of all these workers strutting their stuff and saying pay me before i come back, i will quit the workforce, should they be worried about these developers? >> yes. they should. this is a byproduct of target saying by 2024 we want $24 an hour minimum wage and you heard this from a ton of companies recently trying to raise the minimum wage for their employees. at some point businesses, they look at it and they say i can't pay $25 an hour for a job that

is a 15 on dollar an hour job. i have been saying this for months, i believe the labor market is a big-time bubble that is going to burst. i've never seen this current labor market so far out of whack. employees have had too much leverage over employers the last few years, they are ghosting employers on job interviews, not showing up for the first day of work, demanding three to four day weekends, refusing to come to the office. i think those times are over. charles: how did you learn i was doing that? i digress. getting a little cocky. >> it is and if it is right here it is eventually going to go back there so it will go further in the opposite direction. i think this is going to be the great labor reset over the next several months, we will get back to equilibrium but i've got to tell you what is going

to recalibrate but it will be painful for all of those consumers who ratcheted up their standard of living after receiving stimulus checks, paying more money, it will be very painful. neil: we get cocky in the moment whether it is to millis checks when people came out of covid and improve their balance sheets and look good on paper, some godhead of them selves saying i'm going to retire, now learning 25% of that audience is rethinking the wisdom of retiring but what is next? >> when i started in business it was thank you very much for giving me a job. now it is thank you for giving me a job but i only want to come in three days a week and leave at 2:00 pm and she better pay me $25 an hour or i am out and i think mark nailed it. i completely nailed it.

the fact that i think this will be a turn. i expect companies, i would say the word is fed up but they are reaching, looking for other avenues, you can't stop technology, you can't stop modern technology. i can't watch that movie i robot a second time, it is the shape of things to come and if companies decide something is cheaper, better, faster they are going to do it at the cost of people's jobs unfortunately. >> this impacted young people who have been in a strong position, they have been passing up these $20 plus an hour grocery store jobs thinking i don't need and i can get better. that will be a rude awakening. >> it is going to be a rude awakening and we are either in a recession or we are heading towards a recession and i do believe when we emerge from the

recession a year from today or three years from today i do think automation and robotics is going to be a theme investors want to play. companies are going to look at reducing head count, looking to automate workflows, bring in robotics where appropriate and the younger generations, i heard a statistic a couple weeks ago a recent college graduate now expects one hundred $3,000 a year. a recent college graduate with no real work experience $103,000 a year is the expectation. a lot of these expectations are inflated. that's a different kind of inflation but that is going to be a problem for young people. neil: over demand, bring it down to 101,000. i want to thank you, have a safe weekend. a little more after this.

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neil: so sorry, charles payne, my staff went over, again -- charles: again. thanks a lot, have a great weekend. good afternoon, everyone, i'm charles payne. breaking right now, markets and elon musk feeling superbad, and we know it's not a note to james brown. we should feel good about today's to jobs report, it's exactly what they said they wanted. meanwhile, folks, president biden staying on message and essentially saying it wasn't me and, no, that's not an ode to