knocked it down with a sign of a rally and when the market gets going, you hear dumb retail and impending doom. it's uncanny and unnatural and in some ways it's very unfair. you know what i'm going to tell you, you have to stay in the game. even if the playing field is tilted, i want you to get a piece of the action, no matter what. you might not make the list, but you'll make something; right, liz, claman? elizabeth: you missed sir mix-a-lot, baby got back. it's the cp effect albeit with a teeny bit of green. if you're trying to extract a message from the trading action on the first day of august with maybe you'll get a sense of where the markets could go this month, we've got to show you what's going on right now across several really important realms. forget the fact the markets are mixed at the moment. check out the intraday pictures here, all three major indexes have been bobbing above and

below the flat line during the session. there's a bull bare struggle. both sides have rope burn and neither side has broken out and yes, i know that cows and bulls and bears do not have hands. they have paws and hoofs. the dow needs a gain of 32 at the close and we're flat on the session. consumer staple is the place to be kicking off august. staples are the best performing sector at this hour. investors have a short memory or thought wal-mart and proctor & gamble hit near term bottom last week. remember it was one week ago tonight that wal-mart warned it was going to whiff on the upcoming earnings due to consumers turning surprisingly frugal. the stock got pun irked from the one week chart falling to $120 on tuesday. right now we're at $132 and change. the more interesting stock action that the claman countdown

sees is proctor & gamble. bad analyst timing, four different brokerages from jp morgan and others cut their price on the stock before 7:30 a.m. this morning. then the opening bell and the company missed forecast on friday and quarter goals got crushed and the stock ups the field and right now it's performing very nicely, p and g up 2.6% and the sector getting snuffed. flip to oil, both integrated and refining names in the red with apache corporation and chevron is the dow lagger down 1.7% as oil and gasoline continue to plummet in the after market. look and see. west texas inter-immediate down 4.8% and cooled off by 14% over just the last month while whole sailer has now pulled back 19%

over the past month and down about 3.6% at the moment. no denying it, overall the bulls found their footing in july pulling out the best monthly performance of 2022 with a paper gain, ready for this, of 3.7 trillion. this is a welcome sight after a historically dark first half but will the roman candles and sparklers of july in the markets continue to flair this month? bring in the floor show traders kenny and scott. kenny, i hate to say this but something happened this morning that made me think be ware of the black swan event. premarket, stocks reversed to the downside when taiwanese media reported that speaker nancy pelosi will touchdown in taiwan tomorrow night despite china verbally threaten to shoot her plane down if she does. how vulnerable could the markets be in the next 24 hours? >> you know what, i think this is a lot more hoopla than it really is anything for the

market concern because, a, i don't think china is going to shoot. i think she's got no business being in taiwan. what is she really going to do? do her job for the next two months and she'll be out. what's the whole point? they've created a lot of drama, you know, china is pushing their feet and making noise and nancy pelosi is going to prove the point she's not going to be pushed around. it's a lot of noise that will distract the market u and i don't expect china will shoot her down. if they dorks that'll be another conversational act. elizabeth: i don't know, china usually doesn't threaten and then not come through. all though, i don't know. i mean, there's so much bluster here but before we get to scott, kenny, you're looking at taiwan semi which gapped down to lows of the session a couple hours ago and had a nice one month picture. you look at u.s. stocks or stocks that our investors might be in at the moment, how vulnerable are they are is it just plow ahead and use the dips? >> you have to be careful.

august tends to be kind of a tall tell month, it's a big vacation month to europe and here. moves tend to be exaggerated and no fom-c meeting but there's a jackson hole boom dog at the end of the month and a lot of chatter around that and what will be said and will we hear anything new? the macro-data in august will play a important role and wind down of season and long term investor. you need to stick with your print and be very focused on names you own, why you own them, the story hasn't changed and you're still comfortable with the laundry determine outlook. there's no reason to panic at all. i wouldn't expect that the markets will remain volatile, especially moving into september and october. elizabeth:s reason we like to pair you guys is because you're both traders, but obviously kenny is a little bit more longer term and then you've got our ninja with scott reddler who's in and out. i remember back in mid june, you said you were putting some

inter-immediate cash to work in the s&p 500. the s&p had a great july. what are you doing now so our investor audience knows? >> the investor audience loves to know what people are doing with their cash. all though like you said, i'm a ninja and trade actively for a living but i have inter-immediate and loan accounts and i have one i keep in cash for volatile situations and we time stamped it twice. at 38: 10 we put in one and around 36: 40 we put in another. on friday a lot of people gave me a hard time because they said i'm taking half of it out. at 41: 30 into the close on friday i said, you know what, we made money on the blood in the street, made over 11% in that account, and now i'm going to wait and see what happens through august and september. a lot has to go right for the bulls in order for this market to continue high because i'm not in the same knee camp and will

make new all time highs by the end of the year. you have to be like kenny said, very specific, know what you're in and why and not all stocks are created equal and if you're trading for a living, some are well and some like a meta, they made new lows. >> kenny, we have the fed and you mentioned, you know, we throw out this term jackson hole boon dog when all the central bankers from around the world descend and make all kinds of speeches and sometimes they telegraph what they might be thinking or might be doing. right now we have a fed funds future picture that either sees a bigger 50% basis point possibility for september, 100% are putting in that bet and then 30% of 75 basis points. nobody calling for 1% here. so what does that mean for the markets? >> well, i think the markets will take that. if we go to 50 basis points, that'll be viewed as a positive

because it'll be viewed as feds slowing down and jay powell left door open to 75 basis point increase but now if the market is assuming it'll only be 50, it'll be viewed as a positive and get us maybe a bit more room to the upside but look, i still think we're in a bare market rally and so i don't think people should think, you know, the worst is over and the end is near in the sense that it's only up from here. that's not the way it'll be at all. elizabeth: scott, really quickly, do we care the vicks up 6.7%? in the longer term, maybe that's the bet and either way volatility will be in play in august? >> the vicks runs two or three times a year and it's a broken interrupt i think. reverse splits and price to go to zero so i don't go too much into it. but before you have a rhetoric about taiwan and nancy pelosi and what happens tomorrow. some people are taking a little insurance and after the biggest july we've had, why not take a little bit of insurance because,

you know, we're probably due for some type of digestion or corrective move to burn off the book recognition and something happens with them shooting down her plane and there'll be a lot more fireworks in the market and the big stuff, definitely makes it a little bit of sense here but i wouldn't put too much emphasis on it. >> so nice to have the world filled with sunshine and rain does. scott, kenny, thank you very much. elizabeth: all right, folks, make no mistake, this question of will she or won't she regarding house speaker nancy pelosi's possible visit to taiwan is hanging over the markets. scott and kenny just kind of confirmed that, and if garnering threats from the chinese over the possible visit to taiwan. will the chinese really shoot down her plane and what is happening in dc? what's the chatter? we'll get you the very latest from capitol hill on the dangerous rhetoric that could affect the markets ahead of a possibly historic visit. closing bell, we're 51 minutes

away and could call this a jump ball, folks. the dow is up 22 but been down more than 204 during this session. we've got a red s&p but by barely a bit, just 4 points. nasdaq up 4 points and russell up 6. countdown is just getting started, don't move, we're coming right back.

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find rewards like these and so many more in the xfinity app. >> she should absolutely go. you can't pull that trip down because the chinese communist party sends out a third rate propaganda to threaten her or the united states of america. elizabeth: okay. former secretary of state mike

pompeo backing nancy pelosi's expected visit to taiwan tomorrow night. the trip has yet to be officially confirmed, chinese officials have clearly warned that any visit to taiwan would be met with unspecified military action. i mean, if you believe that threatening to shoot down her plane is unspecified. china claims the independ country as part of its territory and china grapples with invasion at oklahoma and u.s. looks to protect a crucial link in the taiwan/u.s. supply chain, get the breaking news live from capitol hill. >> reporter: good afternoon. i got a lengthy statement from speaker pelosi's office about the speaker's travel plans across the indo pacific and a lot about her singapore visit today and no mention at all about taiwan. no official word from her office

on whether or not the speaker will touchdown in that island, but there are multiple reports globally right now that the speaker does intend to travel to taiwan as early as tomorrow, even as beijing continues to issue those threats and continues to talk about the seriousness of the situation and this morning the speaker tweeted these pictures of her visit to singapore where she was greeted by u.s. marines and met with the president of singapore. now, over the weekend, she released her official itinerary. this is her public itinerary and you can see here, taiwan notably missing. that doesn't necessarily mean that there wouldn't be an effort by the speaker for an off the radar visit for security purpose. it tends to happen with congressional delegations in the days leading up to the trip and the u.s. military thought it was not a good idea and speaker pelosi had pressure from china.

china state media commentator warning that her plane could be shot down if it was acome bannied by u.s. -- accompanied by u.s. milling tear jets and over the weekend china is conducting a military drill off the coast of taiwan and that's raising concerns of the safety of the air space the speaker would have to travel through and the chinese ministry speaker warning the visit would lead to serious consequences. >> if house speaker pelosi insists on visiting taiwan, china will take resolute and strong measures to defend the sovereignty and territorial integrity. as to what measures we take, let's wait and see if he shares making the visit. >> reporter: now the white house is trying to tamp down the rhetoric coming out of china all day long. if she does not go to taiwan, some including gop leader, senate leader mitch mcconnell said this would essentially be handing china a victory. liz. elizabeth: yeah, we're looking

at taiwanese stocks down but so are chinese stocks by the way. i mean, this is a very tense time here and we saw early this morning, we saw the markets take a little discipleship as soon as taiwanese media report that had she would be arriving tomorrow night. please break in and let us know if you get anything more. >> reporter: you got it. elizabeth: thank you so much. we have this breaking news, folks. rev lon stock just resumed trade after being halted for volatility. we're looking at a surge of 10 2% and climbing. heres the news, a u.s. bankruptcy judge approve add $1.4 billion bankruptcy loan saying the cosmetics maker must be allowed to borrow the cash it needs to continue its operations in bankruptcy. so not a liquidation here. the company filed for restructuring on june 16th. this is sort of in a way become one of those reddit wall street bet favorites at the moment as people decided when it was

falling to about $1 a month or two ago that it could be a possible opportunity for the trade and sure enough, here we are with stock at $9.29. future of flight inching closer to liftoff. the vertical ceo telling us how soon his all evo air taxi takes flight as the stock heads skyward. it's a fox business exclusive. we have a 41 minute stretch before we hear the closing bell and dow is up 17. needs 32 points to exit correction territory. s&p up 3 and nasdaq up five. we're coming right back with so much more so don't go away.

elizabeth: fox business alert, we are still with the majors dow, s and, p, nasdaq in the red albeit slightly. we've been up and down on this first day of august. time; right. love is not in the air between bumble and jeffrey's analyst the brokerage downgrading the dating app from buy to a hold citing tough competition from rival sites like match. jeffreys is saying that it's really worried about future revenue growth and so downgraded the dating app. bumble is expected to report second quarter results on august

right now. monkey pox stock plays rallying at this hour after new york became the second city to officially label the public -- the outbreak a public health emergency. on saturday, mayor eric adams said approximately 150,000 new yorkers may be at risk for monkey pox exposure. last thursday san francisco declare add state of emergency. monkey pox tester is moving 100% right now. a company called geovax up 40% right now. flip over to visa shares, they may be down just a third of a percent. we could call this flat but just about every company that buys online ads is watching what happens to visa closely. this after a federal judge friday refused to remove the payment's processer from a porn hub lawsuit saying visa helped monetize child porn. visa's ads showed up on porn

hub's site, a woman is suing porn hub's parent company mind geek along with visa, after explicitly graphic video of her at age 13 ended up on the site. marketers that knowingly place company ads on this kind of website or with a company that owns websites like this. visa responded saying it still believes it is an improper defendant in the case. look at royal caribbean shares are sinking to the bottom of s&p at this hour and the cruise line start add $900 million bond offering in order to restructure some of the short-term debt. rcl down 55% year to date. this is not helping here. look at tesla shares. today in anticipation of a three for one stock split. it's been up as you see on the left side of the inter-day picture. dipped negative and pop back up and now it's down just a fraction at the moment.

the shareholder meeting event ask on august 4 and being re-branded as cyber roundup and that has vs. torrs speculating -- investors speculating system new information will be released regarding the cyber truck. tesla getting a boost after signing deal withs two chinese battery materials suppliers and is not holding onto any gains. boeing is at the very top of the dow and s&p. the company was able to narrowly avoid a strike at three defense plants in missouri and illinois and the stock is popping 6%. this strike was supposed to start today was canceled after the company provided a revised contract to the workers union representing nearly 2500 employees. the union has criticized the aerospace giant for the 401k plan after taking away the pension and set to vote on the contract wednesday and the stock got a boost the naa improved -- faa improved revisions and

shoulded allow to resume revisions of the 737 dream liner. boeing is down 16% year to date, another aerospace company, vertical aerospace is up 20% as the flying taxi company works toward the first electric vertical takeoff or landing vehicle or evtol for short. let's bring in the company president and ceo. there's a couple companies in the race to make it happen. where does it stand? in a metal heap or starting to take form? >> good afternoon, liz. no, i'm pleased to say i was at the hanger this morning and we are on schedule. we're just about to start our full scale prototype test flight program this summer so not long now and pretty much on still, and it's a really fun time. we've flown two prototypes

before and both unmanned, and this one will have a real live pilot sitting in the front so it's a big step forward to turning this into a commercial reality elizabeth: well, that's a really major move. we're excited and heard it would be summer of 2022. you're on track for that. >> yeah, we're on track and obviously with aircraft, safety comes first. we've been running weeks and weeks of build commissioning, testing, and then the final -- the safety side of this is the most important thing. we're on track and because there's a pilot in this one, it's unlike some of our competitors are focusing on unmanned and unpiloted and we think for the next ten years at least, all aircraft and ev will be piloted and we're going down to route. >> i might feel a bit better with a pilot in here. talk about the capabilities these air taxis could possibly have once you're up and running.

>> yeah, the electrify indication of air travel will be transformational and will take quite a long time to reach the 787 scale, the aircraft you were talking about, the personal aircraft and the number of passengers for the sake -- electrify indication and battery technology will really transform how we fly. our aircraft is 200 miles an hour and ranging 100 miles and from a rooftop or helipad. it doesn't need a runway and great for short hull travel and intercity halls. elizabeth: south hampton is fewer than 100 miles from manhattan and thinking you'd give blade a run for their money. i want to know about your partners because you've got pretty impressive names. one is designing the aircraft

control system and ca facilitating your pilot training, and the list goes on. microsoft is involved. i like this one, american airlines has a follow-up order. what are they ordering? >> last year, american airlines were a launch partnership in north america. i think they ordered 250 aircraft or have options of odder oring 250 aircraft and this year they put a deposit of the first 50 of the delivery slots. it's a really important stage in aircraft evolution when you get customers booking delivery slots. elizabeth: well, i'm looking forward to getting a video link as soon as your test flight goes up so please send that because we want to show our investor viewers, and we are watching this stock and obviously having gone public via speck to be up 0% is unusual because a lot of specks aren't doing that well but we'll continue to watch it,

thank you so much, steven. >> thanks for your time. elizabeth: you got it. rock well automation shares, up like a rocket ship in july. 27% higher. how can we be in a recession when orders for expensive robotic technology and software are up 17% quarter over quarter. we've got the ceo here exclusively to make his deck declaration: is the u.s. in a recession or not. closing bell we're about 28 minutes away. we've got the dow down 11 points. little bit of red on the screen, kind of sprinkled throughout. we're watching it very closely on this very first trading day of august.

elizabeth: the markets got another sign this morning that inflation may have reached a peak. the institute for supply

management gauge show that u.s. manufacturing activity slowed less than expected in july to 52.8. that'sdown slightly from june's 53 reading. then you look at the prices paid component of it. this gives you an idea of inflation and prices and how high they are or how much they're dropping. it plunged 18.5 points in july to 60 so it had been 75. that's the lowest level in two years since the pandemic induced slump of june 2020. if you're the fed, you're saying we want prices to come down. this is good. one of the world's largest technology companies in the industrial manufacturing world, not seeing any slowdown. rock well automation third quarter seeing total orders octobering 17% higher year -- rocketing 17% higher year over year. i'm joined by the rock well chairman and ceo blake. your stock is doing incredibly

well and as we look at your numbers, total revenue, almost $2 billion was up 6.5% year over year and your order book, this may be the biggest number, 45% above pre-pandemic levels. can you sit there and say we're in a recession right now? >> you know, there's a number of industries when you look at our end markets that we believe are going to continue to invest because they're building out new capability like switching to more of a electric vehicle fleet. the batteries to power the vehicles, semiconductor, pharmaceutical. if you look vertical by vertical, you can see continuing very strong demand certainly in our home market of the u.s. but really around the world. elizabeth: you do a lot of robotics-controlled automation technology and software. who and where do you see the biggest demand, from whom and where do you see these orders

coming in? >> well, again, our home market in the u.s.. we are seeing a resurgence of spend in manufacturing technology, and we stand with our customers in looking at the combination of a highly trained and engaged work force working closely with that technology as being a winning hand. in terms of specific verticals, it's electric vehicles as automobile oems are looking to build out electric fleets, the battery manufacturing, semiconductor, food and beverage, pharmaceuticals, and energy traditional and renewable forms of energy. across the gamut, we're seeing particularly heavy spend for automation and information management technologies. elizabeth: i suppose we should ask because as good as your order book certainly looks, are your prices coming down? inflation we got to tackle it and i'm not saying you should, i'm saying have you been forced

to do something like that or are your prices going up because you still have some stricters coming to components and getting them from overseas? >> well, we definitely saw a higher cost so with respect to our components, we don't use a whole lot of commodities like steel and copper but we use a lot of semiconductor chips and we've seen prices raise there had and freight increased as freight lanes have become constricted and seeing higher energy costs and we've raised prices over the last year to keep pace and in the last quarter slightly higher priced costs and we're prepared to do what we need there and while inflation, the rate of rise might moderate, my prices of these materials will be with us for some time. elizabeth: your stock has certainly responded very well, up 28% in july. you know, it was interesting to see, new fewer than seven

brokerages upgraded your stock because they suddenly realized, waits a minute, outthere in wisconsin, you guys have been quietly killing it, crushing it. i want to broaden the discussion to washington dc. we know that joe mansion and chuck schumer, the senators are working on a possible major bill that would require a minimum 15% tax base for, you know, corporations. how do you view something like that? >> let me start by saying that rockwell pays generally over 15% in terms of the taxes that we pay. we're still studying the proposed legislation and it's kind of come on pretty quick here, and we would ask, you know, is it going to be good for american manufacturing because we know the -- that is at the critical core of the american economy and is it good for american jobs and that's the

viewpoint to look at any such proposed legislation. elizabeth: you just mentioned jobs. there is a labor shortage but you foresaw this and for the past several years, this is what i really feel positively about when it comes to rockwell and i want arrives to know, you've had a whole hiring program for our veterans so it feels like training them and being in the position to do so over a very tough span for the economy during the labor shortage, how has that impacted your ability to make sure your jobs are filled? >> well, i tell you, liz, it's one of the things that i personally am proudest of and that is our ability to put a human face on automation and manufacturing. while that may sound a little bit ironic, it's really that combination of a trained, engaged work force that's able to pull from all available talent, including returning service people, into the economy with the technology that we

offer. our academy of advanced manufacturing is a program that you and i talked about a few years ago when it was just getting started, and i'm very proud to say we kept going on site through the pandemic, training returning service people for technician jobs in u.s. manufacturing facilities across the country. elizabeth: we need more companies like rockwell and more ceos like you. blake, thank you very much. >> thank you, liz. elizabeth: blake moret of rockwell international and stock up about 26% quarter to daytime elon musk joking over the weekend that he may form a company comboing tesla and twitter and calling it twizzler. never mind the name is taken but is he coming around to the $44 billion purchase? what is a new twitter investment by a top hedge fund manager say about market sentiment on musk's odds of winning in court?

charlie gasparino is getting in the chair and will break that story next, 14 minutes before the closing bell rings. dow is down 35 points and we have s&p in the red by 12 points and nasdaq lower by 26. russell tiny little gain. we're coming right back.

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elizabeth: we need to punch up twitter shares. this is the not they're moving in a dramatic fashion. they're down about 1.8% at this hour, but it's this announcement instves sgine' h taken ao new akw w nwietngngngng eonus wl bel be fl bel maketo moo on hisisisisis bid o ac soc siaocled platfoplrmat for $44 b $illionil charlicht's not just einhorn but other hedge funders you've been speaking to that believe that. >> yeah, it's funny this letter came out after my initial report about how wall street arbs are lining and you happen buying twitter. what they're thinking is, you know, take it for what it's worth, not saying i endorse this rational for his stake.

he thinks the court will rule in favor of twitter, and that if you look at the odds, you know, it's not a bad bet that they could force him to do the deal. including at the price that he initially bid, which was 54.20. my sources and i reported earlier was saying a lot of hedge fund guys that are lining up buying at current levels, which is about $40 a share as you showed earlier, liz, because they think the chances are very high that either the court compels a deal or that musk comes back and says i'll do it for less including my report for this weekend and last week i reported in the post, my column, and on your show last week that there's a growing body of evidence from people who know musk who say that he is really playing a long game to essentially talk down the deal price. take it for what it's worth, those sources that i have are

bankers that are close to musk. no one really knows what's in his mind, but keep in mind there's a growing belief among wall street bankers that elon musk will buy it and he knows he's going to lose and looking for a lower price and/or the delaware courts will compel it even on an appeal. if he appeals this, it just lengthens out the process, but he could lose an appeal and would appeal to, i guess, twitter would appeal -- or musk to the delaware supreme court and means sometime next year this thing would be completely done. that whole sort of uncertainty forces twitter to the table as well. maybe not agreeing to a 54/20 but saying we'll give you something with a 40 in it. an expert at chancery court thinks that musk will ultimately buy with a 5% haircut from the initial price. that's what's going on and einhorn is the latest and out with a letter, but this is a

growing sentiment across wall street. after my post column, liz, i got about three or four calls from hedge fund traders asking me about this like what do i think. i was like, you guys are the smart guys. aren't you supposed to know this, not me? they were asking me. elizabeth: far beet for me to challenge -- far be it for me to challenge a professor of university of delaware, i think the chancery court is going to say you're stuck with it, you bid, you passed on doing due diligence, you have to buy this thing at $44 billion otherwise we don't -- just because you have buyers remorse doesn't mean you can back out of deals. if we have a functioning economy, we have to hold you to it. >> what does he do at that point? that's in october, he suing and this is where it getting kind of complicated, he's gonna appeal. he'll appeal to the delaware supreme court and that's where a lot of people think twitter will deal. it'll be on the pressure from

the shareholders because if musk can't -- if this thing is clouded in uncertain. listen, this is a theory, i'm not saying it's going to happen. you know, there's a good chance the stock goes down and twitter is -- listen, google announced today, not that it was laying people off, but it looks like it's setting the, you know, putting out the feelers that it might lay people off. all of tech is getting hammered because of online advertising down and twitter is hammered more because not having a probable business moder and that could force them to the table saying let's deal with this guy. elizabeth: that's why they're going to the table because the judge said there's too much uncertainty, there is a rush. >> suppose elon ties this up for a year. i mean, that's possible. you know, i'm just saying that's wheres negotiations, the theory is the negotiations happen at that point where charles ellison believes it'll be a 5% haircut

and can see that happening. by the way, 5% means -- it can't be too low. let's be real clear here. twitter will open itself up to class action lawsuits if it's too low. this is a balancing act. it's a lot of money at stake and a lot of crazy stuff. elizabeth: again, is the judge going to be -- i know you say he can appeal this, but is the judge going to be so generous with elon musk after he violated this disparagement clause ripping twitter on twitter >> highly unlikely, if you're asking me that question, highly unlikely. he is highly likely to lose and my sources say he knows that. this is just a game to get the price down. whether it works or not i can't tell you. these are what the informed people are tell me. einhorn confirms that theory

because he bought the stoke. he think it is going to be higher. it is going to happen one way or the other. it will be very interesting, liz. liz: retail investors need to beware this is a game as you said between a lot of big money people. charlie, thank you. we need to check the markets. dow increased losses. i told you this, we had about a 320, 330 point swing today from trough to peak. we were down 224. up 31. we had been up 14, down 34. nasdaq at its lows was down about 118. we are down 31 at the moment. so we'll call this middling, maybe as i said a jump ball but at the moment the bulls are winning. all right, by the way the dow crossed unchanged line 60 times. revlon, guys, it was up more than 100% just a moment or two

ago. we showed that to you, hitting a session high up $9.90, after a u.s. bankruptcy court judge approved a $1.4 billion loan to proceed, helping the cosmetics maker continue operations during bankruptcy. it is moderating just a tiny bit. we have revlon up 88%, to $8.44. please note the low of the year which was just kind of recently when it announced it had to officially file for bankruptcy, a buck 08. let's get to apple kicking off a four-part bond raise according to a sec filing. they will use the money to buy back stock and pay dividends. its credit card rating top-notch. moody's rates it aaa. the stock is down but favorite of wall street alliance group partner. you love it. you're buying it for your high

net worth clients. what is the number one thing that makes it the most a attractive to be. >> great to be with you, liz. apple, we feel this is a warren buffett. 41% of berkshire hathaway this is number one thing we love. we feel what will drive the future growth is the service business. we feel this is the crown jewel t comprises 20% of its sales right now but the gross margins of service business are double that of the hardware business. we think that is fantastic. we feel iphone sales will continue at a excellent rate. they have a brand loyal customer. liz: yeah. >> according to a recent survey 92% of iphone users plan to stick around with the brand once they up grade their phone. we think it's a great stock. >> love it. i think that the buffett comparison is really important because he has made so much

money. in fact when he was at a shareholder meeting in may he said, about a month ago, i bought apple every day for three days straight and only reason i stopped buying it because it started to go up. he only buys it when it goes down. let that be a lesson if you're willing to follow a deal on buffett. you also like american express. i just want to say about the financials at this point, we're looking at a federal reserve that continues to raise rates. does that play into your picture? >> yes. american express is another stock on our watch list that we like. the rates going up is actually good for them because it improves the net interest margin but more importantly this revenge spending on travel and entertainment is huge, right? because we were deprived of it during the pandemic. now we're splurging on it. american express is a huge beneficiary of that because a quarter of their billings come from travel and entertainment spending and they have been seeing that sky rocket t has

gone back to the pre-pandemic levels. they have a high quality customer which makes them less immune to the economic slow down. liz: great to have you. you're picking two blue chip names certainly. always a pleasure to have you. please come back. [closing bell rings] we're looking at a closing bell on the first trading day of august, red on the screen. bulls win this one by a skosh. thanks for joining us. that will do it for us. "kudlow" is next ♪. larry: hello, folks, welcome to "kudlow i'm larry kudlow. save america, kill the bill. that is the manchin-schumer bill. we have a week to do it. the more we learn about this bill the less everybody seems to like it. the inflation reduction act doesn't seem to have inflation reduction in it. that according to the penn wharton budget model. that is not a supply