ashley: when george jones came up with that song he was an investor. a crazy week and the dow surrendered so much territory, who am i to look at that. something we said.

we have a crazy market. a few minutes ago over 350 points. charlie brady, senior editor pointing out the sixth day in a row we have been seeing that, haven't seen that since 2019. going get back to love future, gerri willis first, picking through the data, good report, bad report, the jobs report. >> wall street likes one thing, real people like something else in the markets seem to like this not too hot not too cold report. something for everybody. the basic numbers, 315,000 total jobs added well below july levels, 526,000 but better than wall street expectations of 300,000 and the here's the interesting thing. the unemployment rate taking

higher, 3.7% and for good reason. largest labor force, 61% in july. good news for employers who have been desperate. employers hiring this month, a lot of professional and business services, trade transportation up 65,000. leisure and hospitality of 31,000, more people driving and flying and traveling. wages continue to rise, not enough for inflation. wages for all workers, they are up 5.2% year over year which is still well below us inflation of 8. 5%. bottom line, jobs market is strong which is good news but showing signs of slack, good news for employers which could mean lower inflation. good news for investors, not

worried about higher interest rates. and it is a mix now, and there fell to 68%. the job number 76%. generally speaking a positive read, something else was going on. neil: it is better than a 500 point swing, the first positive to your point but beyond 3 hours to go, they get the read on it from charlie gasparino, would like to see them. >> the market got a little bit carried away with itself to say this is great news with these

job numbers and it is but how much does it matter? what matters in my view is what is happening with the economy, specifically inflation. this is not going to change what the fed is set on doing which i think is a 3-quarter point raise. neil: the goldilocks notion that it wasn't too strong or weak. >> i don't think it means that much when it pertains to the market. ultimately what the fed does with the interest rate is where the impact will be on market. if jerome powell is on the path of we will raise interest rates until we get to the target of 2% inflation we have a long way to go. neil: that hasn't changed. charles: i tweeted this out when it first happened at the market went up. traders and investors are

parsing the numbers, it was a good report, wages are still not growing fast enough and eaten away by inflation. ahead of productivity numbers, they are lousy, always guarantee more inflation. we are in an era where this is 3 quarters of a point and maybe another 3 quarters of a point guaranteed now and markets set in stone to digest that fact. neil: it can change markedly and i am curious what the market fears more, recession or rate hikes that almost guarantee it? >> they go hand in hand. if we continue this path of inflation, the fed doesn't have much choice but -- neil: they are fighting inflation. collateral damage is a

recession. >> listen, they have been late to the party and now they are trying to make up ground and there is no one to blame but themselves. they wanted to buy into the political headline that it would be transitory and that was not the case. inflation doesn't retract that easy. neil: there is no perfect. people hoping last friday, they are not going to see it. charles: this guarantees no pivot. also -- not quite getting crushed but now a lot of it is tech and think about it. tech is kind of the earnings picture hasn't been that great and so i am telling you employment lags the reality on

the ground of earnings, employment gains but the market sentencing we are in a recession and have negative gdp growth. neil: what do you think when you look at this right now? a lot of people still traveling in airports this weekend and buying things, not actively as they were, in fairly good shape. job gains are impressive but off their highs so there is a fallback. >> i think it is almost like we have two different economies out there. you have some people that are hurting and some doing really well. i know the job number, a great number, let's look behind that. look at what facebook is doing, they have layoffs, walmart, ford, 3m, credit suisse, what is going on? amazon.

why are these companies cutting back? neil: 11 million available jobs. >> it's real estate, it is all about location. when you look where these job numbers are going, where were jobs growing and where are jobs shrinking? it could be two different places. to me, amazon cutting back, that's a troubling sign. neil: what do you think? >> the productivity numbers are not good. if you look at the fact that people are not taking jobs, that is not good. it means inflation is high and wages aren't keeping up with it and it forces the fed to slow things down. neil: that is the realization. charles: don't be surprised if we get stagflation for a while too. neil: you and i lived through

it, he's too young. charles: we had two quarters of negative gdp growth. neil: job growth of 300,000 or we don't have that and we might get it. >> nothing like what we got with jimmy carter. it wasn't a straight line down. >> you see these big employers reducing jobs and the question is why. facebook is proving this out right now. they are outsourcing. they are going outside the us. digital ads are going down. the business is faltering. >> there is a shift. >> they've been outsourcing for years. if you look at the digital at market it is way down and they are talking about it. lee 20 i get the technology phenomenon but it stood out, how much it ran up compared to the regular market and is it standing out from too far

beyond what the regular market has done? >> big tech in general, they were inflated for a while. >> inflated by the shutdowns. it neil: this is normal come up? >> we are in such uncharted territory. aside from big tech, so much money for four years that the unwind of that, people are talking about this could be catastrophic. think about it. as much as it goes up you go up the hill, you go downhill sometimes. neil: taking a big crash. >> trillions we print and interest rates going up. taxes. >> taxes, not a good thing. neil: state tax.

fair share. just thinking of outsourcing, how would that go? charles: try to get a robot to do my job. the robot will be better behaved. neil: they have been talking about this, one hundred 7 points. if you have a problem with this, more after this. (vo) while you may not be a pediatric surgeon volunteering your topiary talents at a children's hospital — your life is just as unique. your raymond james financial advisor gets to know you, your passions, and the way you give back.

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tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reaction may occur. best move i've ever made. ask your dermatologist neil: things are getting tense between taiwan and china. they sold a drone, shot down over taiwan. it shouldn't of been over taiwan, now reports we are hearing from china, and china is conducting these simulated attacks, and ahead of all the stuff. what we are talking about. it is getting close to potential -- it wouldn't take much to do that.

i wonder where you see this going. >> yesterday's incident was ominous. first of all, the fourth straight day of drone attacks and wednesday's morning from john kirby, nsc coordinator to beijing, beijing. him off. the other thing, the drones came in over taiwan. taiwan soldiers fired flares as warnings and one of the drones stayed. it looked like xi jinping was seeing how far he could push and whether he was prepared to go to war and taiwan shot the drone down, chinese de-escalated, send drones to the taiwan island in question and after that, the chinese withdrew their drones but this is in a different direction.

neil: after two battleships went through the taiwan strait, in international waters, china warned their waters, no harm, no foul. more of these cases. >> the what now is up to beijing and it is not just taiwan. we focus on taiwan. china is engaging in dangerous activities with regard to india, japan, and the philippines, any of these flash points. they can heat up at any moment. last november and in july the state department warned china the united states was prepared to use force, it got that far. there weren't headlines about this because this occurred on south china sea a tall which is far from anyplace. they are pushing everything at the same time.

neil: this week, china, russia, joint military exercises, it is like our worst fears being played out in a movie that has continuing updates and sequels. don't know where this sequel goes, as we've seen so often are getting very chummy. >> very chummy and we have to assume if we fire china we have to fight russia as well. maybe iran and north korea in addition. the point here, this should be a period of calm may run up for the communist party's national congress which starts on october 16th. this is a period where xi jinping as everyone said, got his unprecedented third term, shouldn't be doing anything to roil the waters to make sure he does become china's leader for

life. he is causing all these problems around china's periphery. we don't understand what is going on in beijing. this is more serious than it appears from the outside. neil: i always like to think countries, whatever their military interests start to weigh their economic ones, bellicose wording is one thing, acting on it is another in china must look at russia and see how it was economically ostracized and say if that were us, sanctions and boycotts on steroids. we don't want any of that. >> most people in china would think that but only a few people matter. xi xinping looks at the chinese economy and believes if it weren't for exports the economy would be falling fast.

the debt crisis, the run on the banks, food shortages, these accelerated covid 19 outbreaks, china is a mess right now and what xi xinping is doing, they should be acting calmly, to distract chinese people from a disaster that is occurring at home. neil: thank you very much. gordon chang on all of that. the problems in california, it has not gotten in the way of this. more and more people do get electric vehicles. enter fisker which is running ahead of this trend. they were ungodly expensive. the ceo and founder.

there is a great deal of anticipation, the entry model goes as low as 37,499. a lot of demand for all these things, they go up to 69,000 but where do things stand? >> we actually sold out on the base model for all of next year so we are extremely excited. so we have a big sales push the was going the visa that is exciting. neil: the federal credits in the latest legislation on capitol hill? >> people who signed up, we sold out and correctly -- for

us, in ohio, our second vehicle, so obviously building in the us and just had breakfast with a partner and we talk about us manufacturing for the ocean as well. neil: let's talk about these models, $5000 deposit to put down on the car, record number of people doing so, and what you see in california, where the electric grid is so compromised the state is telling those with electric vehicles, charging alone, what do you make of that. >> this is a wake-up call. we've seen it through the us, people losing power and we need to revamp our grid in the us. we need to do it anyway and now is a good time to get started. electric vehicles are coming. it is better for the us.

we have control of our energy. it is low cost for the consumer, cleaner. for me it is a wake-up call that shows we need to just get moving and create a better grid than we have today. the good news, if you do have a power outage to power your house from a high-voltage battery up to 7 days. neil: that will come in handy. let me step back. elon musk has been talking a lot, he loves electric vehicles but he says we can't abandon traditional energy, fossil fuels, certainly not now, think this might be self-defeating, even for ev makers. what do you think? >> we are going to need other things, heating etc.

so people, families sitting 50 cars in a row, dropping off children in school and children come running out smelling the fumes, you want to sit in an electric car, run the air conditioning, everything is clean which we are moving electric and have to figure the grid out and use oil and gas for something else, whether it is heating or running factories so i think you still need it for a long time to come but i think they will move away with it when it comes to cars. neil: these cars are hooked up when you charge them. a lot of them are run by natural gas, coal, it is not quite the clean alternative it is made out to be. >> i will say again if you are sitting at a school, 50 cars running a gasoline engine because you need air conditioning that is more harmful than having energy plant somewhere far from where

you live that can still be run a lot cleaner than it could 20 years ago so i don't think that is the issue. the second part is the oil prices are so volatile, filling up the car to go to work, and solar power, 2 or 3 miles a year so i think you need to move in a direction independent of oil and gas. the success, almost have 60,000 donors, sold out for next year. i expect the factory in europe will be making cars for europe and start another factory in the us in 24 and it is coming and it is better for the us in the long run. neil: the one problem with electric vehicles, the one problem is rage anxiety, the time it takes to recharge a car especially on a long trip. they still haven't been able to figure that out.

it has come down a little bit. takes a while, and you are out of there. there's a reason you put in entertainment into your cars to watch as they are charging up but what do you tell people? they love their vehicles but i don't need that. >> the extreme model we have the longest range of any ev in the world, and the price range, 350 mile range, one way is long-range in 90% of charging is happening at home but the second part, once we move to the next level where people may live in an apartment or the second car and went to charge somewhere else, it is a battery somewhere between 12 to 15 minutes full up and that is

something we are working on with battery manufacturers, a joint venture in the us. i think that will be solved. 12 to 15 minutes i think is okay, you don't fill up your vehicle all the time and if you have to sit for 12 to 15 minutes. neil: we are a long way from that. a lot of them say i don't know. >> that will come in 24 and recharge in between. neil: when you're charging work with the tesla station? >> tesla has a unique clock. everyone else has a ccs plot and i have the feeling total might go to that. at the end of the day, so all charging stations have to fit with the same for everyone.

neil:. to get on the same page. two different systems, got to go on a compatible world here, watching closely, thank you so much for joining us. good luck with the debut in november for the first model on the factory floor. we've got a selloff going on 219 points. 6 days running, something haven't seen in a few years, what is going on?

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♪ neil: they are going to give another crack on friday, artemis one waiting at the pad at cape canaveral. the return to the moon is on and supposedly they are going to give it a shot anytime after 2:17 p.m. tomorrow. it could get pushed, and manned missions, could be a long one. 42 days. testing a plan now to eventually make the moon a home for us, a base, manned flights and in a couple years, let's go to former nasa administered jim bryden stein --bridenstein and

esther no asronaut leroy chao. sometimes launches are delayed. what is the window for tomorrow? >> we have a 2 hour window, got the time just right, started 2:17, and opportunities to launch. this is the first launch of a brand-new rocket. we will learn things like we did last time and might need to adjust again. i am very hopeful, nasa is a great agency with great people who have gotten us to where we are. and exciting day. neil: a lot of people look at this and say didn't we do this 50 years ago? why do we need to go back and do it again? what do you tell them?

>> it has been almost 50 years since the last mission, apollo 17, carried humans to the surface of the moon and there are a lot of reasons to do it. because it has been so long, if we are serious about sending humans to mars, doing things at the moon first buys down risk. we have to relearn how to land humans on another planetary body. the moon is a great place to test and develop your hardware, habitats, rovers, it is a great place to train astronauts, you don't want your first crews to have never operated in low pressure, low gravity environment before. the reason you do us on the moon is it is only 3 or 4 days away so if you have a problem you get your crew back quickly. mars, closest approach, talking 6 months each way so you want to make sure everything is going to work before you send it to the red planet. neil: if you can help me with why the orbit, 40,000 miles beyond the moon, explained

that. >> there's a lot of things we have to experiment with on this flight, certainly different orbits result in different capabilities for access to the moon and a test drive of the orion crew capsule in general. the space station we are building around the moon called gateway, will be a near rectilinear halo orbit where it is balanced and will stay for long periods of time. this particular mission we won't go to that orbit but we will have to go to that orbit in the future. this is an important test drive if you will. i want to add to what leroy said. the moon is the proving ground. a lot of capabilities can be learned there. we also have to remember leroy was commander of the international space station where we've been compounding pharmaceuticals in a way you

cannot do, advancing in the unitization in a way you can to do in the gravity well of earth. we are creating things like brand-new tissue using your own stem cells so it perfectly matches your body. we've done it for cardiovascular tissue, muscle tissue, nerves. these are things you can't do in the gravity well of earth because the tissue is flat. can we do these activities at the surface of the moon where the effects on astronauts can be improved. think of microgravity, what it does to your bone mass, we think about your muscles, atrophy in microgravity, radiation. when you are on the surface of the moon the gradation dose is cut in half because it is only coming from above and not below. a lot of reasons to try on the moon what we have been doing and experimenting with in low earth orbit so everything leroy

said is correct. there's a lot more reasons to go though and we are not going to be able to cover on this short sentiment. neil: as former commander on the international space station, you are where the russians said they would opt out of that. they will go it alone strategy, china already has a strategy of its own, the space station it is building to say nothing of the aggressive schedule flights, schedule all over the moon. it is different than it was 50 years ago. does everyone come in peace here? does everyone have the benefit of science, marching to that, no other fairy us purposes. do you worry about that? >> one of the big hallmarks, accomplishment of the iss, the international space station,

the international collaboration, former world war ii enemies came together and created the most audacious space construction project ever, the world's premier microgravity laboratory and as you pointed out things are going in the opposite direction, china certainly going it alone, they've got an operational space station with capabilities of bringing astronauts up and down and cargo, doing research collaborating with astronauts from other countries, help train russia although they say they will go it alone they don't have the resources and infrastructures not what it used to be. it is a huge challenge to do that, though would like to. in the us we still have european japanese canadian allies, and partners and always looking at opportunities to call elaborate in space. hopefully the lunar venture will be more collaborative than not collaborative but the big

partner, other partner on the iss is russia. neil: life goes on. thank you. see you, hopefully things go well. there is no rush to do any of this. on terra firma on earth, you can't make it to the skies maybe you can make it to a $3 movie tomorrow, movie houses across the country are offering such tickets. kelly o'grady, it is very hot but they hope theater attendance will be hot as well. >> reporter: good to see you. what is better? up next i will tell you why folks are able to go to the movies for $3 tomorrow. ♪ ♪ is the planning effect.

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neil: they are calling tomorrow national cinema day. you can go almost anywhere to watch a movie for $3. kelly o'grady in los angeles with how that is going down and prepping up for all of that. >> national cinema day, 3000 theaters selling movie tickets for $3. that is a good deal. this theater is normally $15 for a standard evening showing, 80% discount. the film industry has seen robust hits with top gun and minions, organizers sharing with fox business to celebrate that resurgence, they are doing it by offering a thank you to the moviegoers that made this happen. and offering extra enticement for those who haven't made it back yet.

performance has been good versus height of covid box office receipts are down 20% versus 2019, for context, 2019 saw tween 9 filled crossed the coveted $1 million mark worldwide. 2022 has one so far. part of that is due to the streaming phenomenon and the pandemic but 6% of moviegoers share their single not interested in theater selection. the realities many studios act to delay to this fall. from production shut down for a number of months. $3 ticket gimmick has downside to be perfectly honest, labor day a slow weekend as families take the last summer getaways, and foot traffic could entice viewers back to the theaters for a jampacked fall and winter including long-awaited avatar sql. just because you have movie tickets that only cost $3 that doesn't mean with inflation your concessions won't be shelling out for them.

the reason i go to movie theaters, 100%, is the popcorn. are you candy or popcorn guy? neil: i don't want to talk about that. i want to go to the concession stand and hang out. a lot more coming up including the selloff, down 150 points, the nasdaq drawing a lot of people's attention and concern and worry, that one is accelerating. that's from an average that has seen five days of losses prior to this, after this. ♪

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this is 6 days running for a nasdaq selloff, the likes of which we've not seen in three years. what is going on? >> people think that is the bear market rally. it is a little different. with bear market rallies, interest rates go up. and the second phase pops up, and and we have trillions of dollars of spending, that are implemented, we have full employment. this recession is in the mix and we are all confused with trading volumes on labor day weekend but it is very messy. any pattern even if it looks

like a bear market rally, investors are trying to figure out where to allocate capital, the tech stocks or the value and we will sort this out in september. neil: september is a problematic month. a lot of people go into a weekend with a long position in the volatile market so that could feed the beast. the selloff, still in a rich market and priced too high. the premier names cut in half. >> i would take a different view the technology stocks at massive lows. salesforce below the 52 week low yesterday and looking at

cloud computing, cybersecurity, really doing well, still doing double digit returns and cash on hand. these contracts, consumer contracts, some are 5-year contract and the economy will surprise a lot of folks, how much the fed is going after it. it is a policy issue between the white house and the fed, could we encourage cheaper energy out there? drive it down, headline inflation? neil: a lot of people with gains in technology stocks, they have paired some holdings and it is too late, just hang on, see if it comes back. are you of that year? >> i'm looking at buying something. i look at the 52-week low number. the nasdaq found 11,000. we haven't crossed it yet. looks to be in the range.

long-term maybe three years out, 5 years out, probably one of those buying sessions where we go back and say i wish i had bought that now. the only fear is how far will interest rates go up but if you look at the market and employment numbers something is off and that is what we are trying to figure out. neil: i have been saying that as well. this should make you run in the opposite direction. the backdrop is different from the 70s experience. having lived through that and been the guy in charge, you would fill up your car in the middle of that energy rationing going on, big job loss, the carter administration, off of their highs, the latest one, 315,000, it would take a long way to get back to those days but a lot of people don't see that. what do you say to them?

>> we have to go back and look at the fundamentals, getting three watermelons at the carwash, this is like we are in different situation. there are two jobs for every job applicant. we are sitting where we were in 2019, we have another trend people don't realize, the population will hit 9.2 billion very soon after that it will decline which means we will be short on jobs so that will be interesting. neil: looking at potential afco class here. a lot more.

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(fisher investments) it's easy to think that all money managers are pretty much the same, but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must earn commissions on trades. (fisher investments) never at fisher investments. (other money manager) ok, then you probably sneak in some hidden and layered fees. (fisher investments) no. we structure our fees so we do better

when clients do better. that might be why most of our clients come from other money managers. at fisher investments, we're clearly different. neil: all right, i'm going to blame charles payne for this one because we're down almost 300 points, and i'm not taking any responsibility for it. we turn around, however, that's on me. to you, charles. charles: neil, you'd make a great president, that's all i can tell you. [laughter] good afternoon, everyone. i'm charles payne, this is "making money." breaking right now, well, first they cheered and now they're jeering. the jobs report a reminder while there are some cracks in the armor, there's still a long ways to go to make the fed happy, and to paraphrase jay powell, that meanses lots and lots of pain. plus, the new tony stark? eric finman first made headlines as a teen millionaire. i'm going to ask, why is