in value, invest in stocks and invest in alternative things that you know better than other people. tough moments come and go just like this stock market. you know, the ugliest part though of life is not looking at this market getting hammered, it's retiring and not having any money to enjoy that retirement. so, listen, it's been a tough week, but we're here for you. forget about all of this, just sit back, relax, have a fantastic weekend. but before you go, i'm going to hand it over to cheryl casone. [laughter] cheryl: stick with me a little bit longer there, charles. thank you very much. and, yeah, with we've got these markets. it's been quite a day for the markets. does doesn't look like we're going to be able to squeak out one day this week with all three indexes in the green. none of them are there right now. the dow right now is down by 283, s&p down 37, nasdaq can down 146. the tech-heavy index, by the way, also on track for six consecutive days of losses, the longest losing streak in three years that we've seen. you know, it's disappointing

considering at the opening bell all three indexes were actually higher on that jobs report. in fact, dow was up as much as 370 points earlier in this session. nonfarm payrolls came in slightly higher than expected in august, 315,000. market was looking for 300. but the unemployment rate went from 3.5% to 3.7%. expectation was it was going to stay flat. what's also interesting here, revisions to the very hot june and july reports were pretty substantial. showing 107,000 fewer jobs were created than what was originally reported, and the big hit, by the way, came to june which we learned this morning. still, the mixed results for august are causing choppy trading waters as investors are spending yet another day wondering what jerome powell and the rest of the principal reserve is going to do when they meet on the 21st. earlier on very and company,

labor secretary marty walsh said that the u.s. economy is uncharted waters right now. >> we're in a very interesting time when it comes to our economy. it's unlike any other time prior to this. you know, we're not -- we talk about we're not in a recession period and we're not in the 2008 or 2002 and 1 when we had more challenges. so, you know, we're going to continue -- companies are still hiring, people are still, there's emerging industries. cheryl: well, uncharted territory the, for sure. so how should investors or sail the september stock seas? let's get right to our floor show. joining me right now is bank of america head of global economics research ethan harris, "wall street journal" senior writer jon hilsenrath and with $4 billion in assets under management, international assets advisory ceo ed cofrances coe. it's great to have all of you here. i'm going to start with you, ethan. i was looking through your notes

from bank of america, and you're kind of holding steady after this jobs report. you're still looking for that 50 basis point hike from jerome powell, but more than 65% in the fed futures markets anyway believe that we're going to get three-quarters of a basis point. so your mind was not changed this morning. why? >> well, i think that the -- gave the fed a little bit of hope here. the most important part of the report was the return of workers to the job market, the rise mt. participation rate which explains why the unemployment rate rose. that is very good news from a fed perspective. that's what they're really hoping for, because they need to get the labor market back into balance. much easier to do it if it comes from people coming back to the job market than it does for the fed to kind of crush the demand for workers. so it's a close call. we we don't know if we can have much confidence about exactly what the fed's going to decide, but we're leaning on the 50 basis point side.

cheryl: fair enough, which is still a hike and maybe going to affect markets either way, maybe not as wad as 75. -- bad as 75. ed, you've been looking for reasons to get optimistic, but you've not found any so far. >> this is not uncharted territory. i've been in this business 44 years. this is the '70s all over again. and just like ned stark would say, winter is coming. cheryl: game of thrones reference. [laughter] correct? >> absolutely. cheryl: okay, just double checking. [laughter] >> game of thrones prequel broadcasting right now, it seemed apropos. there's nothing good to look at. we keep, you know, every quarter we sacrifice a goat, we look at its entrails, and the portents we see are getting worse and worse. for us to say this is uncharted territory, no, this is 1970 stagflation coming right back to hit us.

these job numbers, these revisions today, the current jobs numbers from august which will probably get revised down in a month are anemia -- anemic. we're going to have high inflation and unemployment, and we have washington printing money like it's monopoly money. morally as you slip into recession -- by the way, the recession's not coming, it's here. gang, it's here. walk around main street. go to where i live in lakeland, florida. go to des moines, iowa. go to these main streets, you'll be smacked in the head with the recession that's already here, and it's going to get worse. the market has done exactly what we predicted at the end of december. we were the biggest bulls in the world in may and june of 2020, and by the end of last year, we turned bearish. the market has done a mambo. for every two steps back, it takes a step forward. we're going to have a correction, and we don't know how big or bad it's going to be, but we mow it's coming.

cheryl: okay. jon hilsenrath, you know, jerome powell and team, you're our fed watcher, fed reporter. they've got a lot to digest here. what's interesting is that we've got this report today, you know, they meet on the 21st, but they're still going to get that august cpi number before they meet. and one thing i noticed from joe roam -- jerome powell i guess it was two months ago during his press conference, he talked about they reacted to that cpi. it was a real fast turn for the fed. normally, it takes them a much longer -- they have a lot of runway before they get to that decision. but i he kind of admitted that they're looking at quick data, and i think that's going to be the cpi. >> well, cheryl, i'm thrilled that i'm doing the show with you today, because i know you know these numbers as well as anyone. you're out reading them at 8:30 in the morning, and you know every line in these reports. and i think you're exactly right. ethan will know this, i think the date for the cpi report is september 13th, and that's a

very important report. if those inflation numbers come in soft as they did. >> july -- in july, that gives the fed a little room maybe to not pump those brakes so hard. right now it looks to me like the inflation numbers for the month of august are going to be pretty good. i mean, gasoline prices have come down quite a lot, and i think the market has been doing so poorly the last few weeks especially since powell spoke in jackson hole because the market is afraid that the fed is going to make another mistake. they made one mistake in 2021 when they cut interest rates too much and held them down for too low. i think the market is concerned. they love these phrases, a pivot. you know, the market is concerned that the fed is not going to adjust quickly enough, is going to keep pounding the brakes and pound using back into recession. that inflation report that you referenced, cheryl, is really important because that's the window of opportunity.

if it's a soft number the fed can say, all right, maybe we don't have to pound the brakes as hard as we've been saying. cheryl: ethan, i want to pick up on what jon's talking about here because the biggest reason we've seen so much pressure on the markets in particular since last friday when powell spoke in jackson hole is the fear of this aggressive stance from the ped. from the fed. if what jon was saying is true, and i actually agree with him, ethan, because of energy prices, the headline number -- which we focus on so much these days, we didn't used to, but now we do -- that would tell me a less aggressive move from the fed this month. >> yeah. the cpi does come out on the 13th which happens to be my birthday, so let's hope for good news that day. [laughter] cheryl: got it. >> anyways, the story here on inflation is not so much about energy prices which can be quite volatile, we had a massive spike and now gasoline prices are coming down, it's the breadth of

increase that worries me and the fed. it's the fact that if you dig into the details in his report, this is so many sectors with high inflation. and that's what the fed's going to be focused on, what's the breadth of this inflation number. it is the last big number before they meet, so they probably will put a little more weight on it than normal. but they're going to be looking at the whole tone of data in the last couple months which has net-net been still an overheating economy. the job report today wasn't quite as overheating as we might have expected, but it's still way too song strong. you've got inflation readings that are too shopping. i would amend one thing -- too strong. i would amend one thing. when we think about the 1970s, we're not at a volcker moment now. volcker came after 15 years of inept fed policy where they repeatedly did too little to fix the inflation problem, something that powell has recognized. we're really in 1970 now when

fed had to to decide are you going to nip intblaition in the bud and do the job right, or are you going to blow it and have to come back again later and hit the economy even a harder: so my hope is that the fed has figured it out finally. and i with was happy with the jackson hole speech. i felt like this was a much more realistic view. we got that get the job done -- gotta get the job done. we don't want the 1970s. we want to nip it in the bud and have only a couple years of the 1970s, not the whole -- >> hey, cheryl, can i jump in on the '70s debate? cheryl: sure, go ahead. >> i think there's a very, very important distinction between today and the 1970s, and that's that the fed has an inflation target. in fact, most central banks in the world have inflation targets. the fed was unmoored in the 1970s in part because richard nixon took the united states off the gold standard. what we have now is an inflation target, and the whole world knows the fed is failing because

it's over that target. so it has to get down, get inflation moving in that direction back towards 2%. for me, the only question is how fast to do they get there. and, you know, i think the risk to the market -- that the market is looking at right now i is that jay powell is so intent on getting will right away -- there right away that he sends us back into recession. i think the fed needs to have a debate about how fast they want to get back to 2%. but we're at an important moment right now because it looks like we're turning back towards inflation coming off its very highest levels. you know, it's not just gasoline. retailers have been overstocked with too much inventory. they're discounting. airline prices have come down. hotel prices are moderating. so i think we're seeing some mod race, it's a question of how fast it's going to happen. cheryl: yeah. that report's going to be, i think, really key, and it's going tock a -- to be a big

market mover, and i think there's going to be a lot of focus on that on the 13th. ed, really quick before you go, as bearish as you are, and i've gone through your research, you do still have a couple of picks. you're talking about somebody like an exxon. that's interesting. and then you also like merck, which is health care. so already some pockets, ed, that you say can help us survive the next couple of months. >> yes, yes. and we like exxon. we're to calling for at least $5 a gallon gas by the end of the year. california's going to to hit an all-time record over labor day record. so gas prices are already on their way back up. they're up about 20 cents in the last few weeks. i know, i have a lot of cars. i buy a lot of gas. i live many a rural area, and gas is going to go higher as china comes online. we like truest as a plain, old-fashioned retail bank. as interest rates increase, traditionally retail banks, the spreads between what they pay and what they earn, interest rate spreads, increase.

and they'll be borrowing at a much lower rate than they will be lending it out. and again, we like merck. we hi every time government steps in with brees big -- these big, grandiose plans to rescue the middle class, it somehow benefits big pharma. and as the latest of the reduce flakes act, we like merck. cheryl: all right. we're going to leave it there. a little bit of a bright spot in all this. gentlemen, we appreciate it. ethan and ed and jon. a hot to go lu on in this jobs -- a lot to go through on this jobs friday. well, the post-pandemic world increasing businesses' relicens. especially in the cloud. we're t how her company is helping companies keep everything operating online smoothly. we're heading inside cloud in moments. taking a rook at the markets, again, what a sea sue

after -- seesaw of a day. pushing toward session lows againful we'll see how the next 45 minutes play out. "claman countdown" coming right back. ♪ ♪limu emu & doug♪ it's nice to unwind after a long week of telling people how liberty mutual customizes your car insurance so you only pay for what you need. showtime. whoo! i'm on fire tonight. (limu squawks) yes! limu, you're a natural. we're not counting that. only pay for what you need. ♪liberty. liberty. liberty. liberty.♪ ♪ ♪ ♪ ♪ ♪ ♪

♪ ♪ ♪ ♪

like any family, the auburns all have... individual priorities. some like strategic diversification. some like a little comfort, to balance out the risk. others want immediate gratification... and long-term gratification,too. they have their own interests, but at the end of the day there's nothing like being... a gold-owner. visit invest.gold to see why gold is everyone's asset.

municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-217-3217. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio.

hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income... are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-217-3217. that's 1-800-217-3217. ♪ ♪ cheryl: we should look at okta right now. the stock is actually higher by a little more than 5% after dragging down the nasdaq yesterday. okta sat at bottom of the index following its second quarter results which were actually very strong, but investors had issue with okta's warning about next quarter with, mostly due to to sales challenges and macro headwinds. it also said it faced challenges

integrating the customer identity software company they acquired last year. the warnings dragged down the entire software as a service sector, but paid your duty, which was down more than 75% -- 7% on thursday, popped. the company raised pull-year forecasts. i want to bring in the company's ceo, jennifer tejada. it's great to have you here, and your stock, i think like many in your space, have been under pressure. it's a group thing,you will. down about 49% year e over year, but revenue has jumped 33% year-over-year. so that -- you seem to be kind of breaking away from your peers. why is that? >> well, thanks for having me today. we're really proud of our results. we posted another strong quarter. we've been executing very consistently at or above 32% revenue growth for the last four quarters and net dollar retention above $10 for the last

seven. we also significantly improved our bottom line are. we're seeing operating leverage mt. business through a sustained program to just improve our overall efficiency and improved operating margin by 1,000 basis points. and we've made a commitment that we are on a path to profitability. we expect to be profitable in q4 of this year and for the full year next year. so really what we're seeing is our tailwinds which are digital transformation, dev to ops acceleration and cloud option still intact even in an uncertain macro environment where everything is digitized, and developers are under pressure to deliver great experiences and making sure that everything works well in the moments that it needs to. cheryl: we live in the cloud. businesses, consumers, all of us. and the world is heading all towards the cloud. at the same time, though, you mentioned those macro headwinds. i want to to follow up on that with you. what -- exactly, specifically,

are the headwinds that have been the most challenging for you? >> well, i is to say, i mean, we've just come through a pandemic, and so while the macro environment is uncertain and we saw some of our large deal cycles slow down a little bit and we have seen more diligence in europe, our primary growth driver is our high velocity land and expand motion. and that business continues to perform very well. we continue to see strong demand for our products and services, and that's because our customers see automating incident response as a very high priority much like they think about security. you can't afford to lose revenue or lose customers because your technology environment isn't working, your digital products and services aren't delivering great experiences. and so being a high priority from a buying perspective, being essentially used by developers who tend to be more resilient even when macro is uncertain, i think, is a tailwind for us.

and, you know, i would also say because we are deeply integrated into our customers' environments, we have over 700 integration that plugs pagerduty into the way our customers run means we've essentially become essential infrastructure for those customers. cheryl: yeah, yeah. >> and when i think back -- go ahead. cheryl: i did want to move on because the technology industry in general which, of course, you are a part of and one of the few women leaders, we should say, in that industry, congratulations. you know, you've got a lot of these other companies now that are starting to lay off, a lot of major tech companies whether it's tesla, even walmart's talking about layoffs. so if your -- in your space do you see the company growing in and how do you explain to me or to our viewers what's going on in tech that we are seeing the layoffs that we are considering there are so many bright, exciting things ahead as far as cloud services go? >> well, there's still a lot of growth in tech and, again,

that's driven by these macro tailwinds, clouded option is not slowing down. most of our large customers are in the midst of significant digital transformation, and they're continuing those projects. and when you think about the developer community, there's still more open develop kerr roles, more jobs than there are talented, experienced developers to fill them. so when we hear about some of these layoffs, what we actually see are developers moving around, and that ends up in some ways being a good thing because they take their experience with pagerduty and they ask for it in the next company. and, you know, i've been around for a quite a long time, i've seen these cycles come and go. one thing that has held true is that innovation is really important in fueling the economy. and sometimes you have to just stay focused on the long game, on the long term. stick with your guns in terms of making sure that you can deliver

on your commitments but also build for the long term. and i think that's what we've done at pagerduty. we're building a durable business that's getting more and more efficient over time, and we'll be profitable in the very near future. cheryl chearl yeah, know, and, again, you are one of the few women in tech. you're also on the board of estee lauder which is also a technology turn-around story that goes back several years, so it's everywhere. everywhere in our lives. jennifer, thank you very much for being here, we appreciate it. >> my pleasure. thank you and have a good weekend. cheryl: you too. happy labor day. well, top gun: maverick may be burning up the hollywood box office, but the post-pandemic cinema seen hasn't lit a fire at theaters. kelly o'grady is in tinseltown ahead of national cinema day with all the details. and a look at your markets, well, looks like we're hitting session employees. it's not my fault. don't blame the messenger.

down 303 on the dow and s&p down 39, nasdaq down 155. going into that holiday weekend. we'll be right back. ♪ ♪ ... is the planning effect. this is how it feels to have a dedicated fidelity advisor looking at your full financial picture. this is what it's like to have a comprehensive wealth plan with tax-smart investing strategies designed to help you keep more of what you earn. and set aside more for things like healthcare, or whatever comes down the road. this is "the planning effect" from fidelity.

finding my way forward with node-positive breast cancer felt overwhelming at times. but i never just found my way, i made it. so when i finished active therapy, i kept moving forward and did everything i could to protect myself from recurrence. verzenio is the first treatment in over 15 years to reduce the risk of recurrence for adults with hr-positive, her2-negative, node-positive, early breast cancer with a high chance of returning, as determined by your doctor when added to hormone therapy. hormone therapy works outside the cell while verzenio works inside to help stop the growth of cancer cells.

diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an antidiarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath, chest pain, and rapid breathing or heart rate, or if you are nursing, pregnant, or plan to be. i'm making my way forward, my way with verzenio. ask your doctor about everyday verzenio.

i'm sholeh and i lost 75 pounds with golo. i went from a size 20 to a size 6. before golo, nothing seemed to work. i was exercising for over an hour every day. it was really discouraging. but golo's so easy, the weight just falls off. it's beautiful out here. it sure is. and i earn 5% cash back on travel purchased through chase with chase freedom unlimited.

that means that i earn 5% on our rental car, i earn 5% on our cabin. i mean, c'mon! hello cashback! hello, kevin hart! i'm scared. in a good way. i'm lying. let's get inside. earn big time with chase freedom unlimited with no annual fee. how do you cashback? chase. make more of what's yours. cheryl: top gun: halve maverick has now made a total of over $1.4 billion mt. worldwide box office. go, tom cruise. the hottest movie to have year has now been seen in over 4,000

teeters -- theaters. labor day weekend, notorious for a slowdown period nor if movie ticket sales, could theaters be in danger? get your popcorn ready, because tomorrow is national cinema day as box office looks for late summer leaf. should we get out that popcorn? let's ask kelly o'grady who's already got it. [laughter] >> i know, cheryl, i feel like every time we work together, i'm always eating. so, please, let's continue this. [laughter] listen, top gun, if you haven't seen it, tomorrow's the day to do it. 3,000 theaters across the country are going to be selling movie tickets for just $3. now, that's not going to help the box office revenue front, but but the big idea is to get reluck aring about the theater-goers back into theaters. box office receipts are still down 20% versus 2019. releases tracking 30% or lower. 2019 saw nine films cross that

coveted billion dollar mark, 2022 that is top gun so far, and recool cinema's parent -- regal cinema's parent has plans to file for bankruptcy. respondents were more interested in watching a movie at home. and the hope is $3 ticket will get folks back with little downsides side. -- downside. look at the mag magnitude in that difference, black panther blew labor day sales out of the water, but while theaters may benefit, i do want to the to high to light the studios can only go so far without a return of the chinese box office. a incall 2019 weekend for them was $133 million, last week only under $12 million. so, listen, cheryl, if you need plans this weekend, martial cinema day is a good option.

but just because your tickets are only going to be $3, you're going to shell out for concessions. personally, i go to the movies for popcorn, so i'll take it. cheryl: popcorn and diet coke, that's my thing. that's my jam at the theater, i don't know what it is. [laughter] kelly, thank you very much. kelly o'grady. all right, well, we've got a fox business alert right now. taking a look at the markets, as you can see, we've got some pressure on the major indices right now. the dow is down 311. we're off of session lows, which we just hit a few moments ago, but still a rough turn for the markets. we've got about 28 minutes to go. s&p is down, as you can see, 40. nasdaq down 154. taking a look at this one, lululemon sitting at the top of nasdaq after the apparel maker raised its full-year profit and revenue fore forecast, also beat with analyst expectations for second quarter revenue and profits. high income consumers who are less affected by inflation have

been scooping up many of the new products including their new belt bags and their golf and ten misif apparel. can tennis apparel. taking a look at starbucks, the stock is lower now almost 3%. still, the company has announced a new ceo. it's going to join -- he's going to join the company in october and become ceo in april of 20 to 23. now, laksam comes from reck it where he helped oversee a large restructuring. current ceo, howard schultz, saying in a statement he hairs starbucks' commitment to its customers and community. and, remember, howard schultz, this is his third go-round running starbucks. he's a repeat offender, that is for sure, and he seems to love that company. stock is lower. all right, broadcom bouncing higher today the after semiconductor maker beat analyst estimates for fiscal third quarter earnings and provided a better than expected outlook for

its october quarter. high demand for cloud service providers helped boost revenue for the quarter. we were just talking about that in the last segment. that stock up almost 1.75%. and ford is actually down but just slightly. the automaker reported year-over-year sales growth 27%, electric vehicle sales up a whopping 307%. including the sale of 2300 of its, the big guy, you call it, the f-150 lightning if evs. they're gorgeous, just gotta say that. ford had to issue two separate recalls in this week that affected about half a million vehicles. still, you've got to check out the lightning, it's cool. all right, sky-high inflation wilting even the most beautiful things. the ceo of 1-800-flowers.com here to tell us how sending that bouquet to the one that you love comes with even more of a financial arrangement. and let's take a look at crypto as we go to break with, get you

off those markets for a minute. bitcoin still below $20,000, and etherium, as you can see, a little bit lower, saw -- 1500 and change. litecoin up more than 6%. "claman countdown can" is coming right back. ♪ ♪ another busy 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. with the nation's largest ip converged network. from the most innovative company. bring on today with comcast business. powering possibilities.

some days, it felt like asthma was holding me back. but asthma has taken enough. so i go triple... with trelegy. with 3 medicines in 1 inhaler,... it's the only once-daily treatment for adults that takes triple action against asthma symptoms. trelegy helps make breathing easier,... improves lung function,... and lasts for 24 hours. go triple... go trelegy. because asthma has taken enough. trelegy won't replace a rescue inhaler... for sudden breathing problems. trelegy contains a medicine that increases risk of hospitalizations and death from asthma problems when used alone. when this medicine is used with an inhaled corticosteroid,... like in trelegy,... there is not a significant increased risk of these events.

do not take trelegy more than prescribed. trelegy may increase risk of thrush and infections. get emergency care for serious allergic reactions. see your doctor if your asthma does not improve or gets worse. don't let asthma take another breath. go triple. go trelegy. ask your doctor about trelegy today. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire bubbles bubbles so many bubbles! as an expedia member you earn points on your travels, and that's on top of your airline miles. so you can go and see... or taste or do absolutely nothing with all those bubbles. without ever wondering if you're getting the most out of your trip. because you are.

♪ ♪ wow, we're crunching tons of polygons here! 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. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq ♪ cheryl: 1-800-flowers.com, the stock actually dropping a little bit, about 5.5% right now. the company reporting a miss on both top and bottom lines in the forty quarter of fiscal year -- fourth quarter of fiscal year '32. the retailer saying inflation pressures weighed on final quarter. costs surging across the board, in particular with shipping.

commodities, labor and then digital marketing. so let's bring in the 1-800-flowers ceo and, christopher, i have to say first and foremost, founded in 1976, you're one of the original dot.coms. so that's something to be proud of, i think, running the company. your father founded the company. what's different today? versus when you began the company? obviously, inflation is anish sue for you now. an issue for you now. is that the biggest headwind you're facing? >> i think, cheryl, it's important to step back and put in context what we're going through right to now. so we go look at the last couple of hours as we went through pre-covid, and we had the company accelerating into double-digit growth. the company was so strong, the team was able to respond to the surge that we saw in consumer demand during the pandemic, and we did a great job. doubled the size of our company in the process. as we -- gnawed -- [audio difficulty] cheryl: oh, i think chris per's

skype connection might have just froze which is unfortunate, because it really is an interesting story. we'll see if we can get it back. this is something we talk about the all the time, and that is inflation, and it does hit businesses even if you do want to to order beautiful flowers for your friends and family. again, a company that's been around since 1976. and inflation, as we were talking about at the top of the show, when we get that cpi report on september 13th, you may see a little more easing of inflationary pressure and prices which would be good for you watching at home whether that is your gas prices, the flowers that you go and buy. i know for sure i go and buy flowers every week because it's something that i really enjoy. but it is a discretionary business, so we're certainly working to get christopher back. we do want to take a look at the markets. the other big story is the dow which has decided to fall even further in the last few moments. i take my eyes off it for one second, dow is down 466.

definitely blowing lu those session lows. a lot of this is reaction to the jobs report. we're also going into, be clear here, a three-day weekend. so is a lot of times even though you have got low volume, this happens every year. nobody wants to be sitting on certain positions going into a tree -- three-day weekend. so i'm not completely shocked we're seeing this selloff at the end of the day because, again, a lot of the professional investors, a lot of them probably are running funds within your 401(k), running funds that you probably own, they don't want to be sitting in their positions going into the three-day weekend. so tuesday will be another day. liz claman's going to be back. we'll see if she can bring the markets back. i understand christopher is back with us. we're so sorry, had some technical difficulties with you in the age of skype. this is how it goes. but you were talking about the business and some of the pressures that you're facing. we don't have a lot of time, but i do want to say what does the road ahead look for you?

how do you think you can actually bring the stock back, give investors some a payback,you will, the ones that own the stock? >> thank you, cheryl. apologize for that. we've really doubled the size of our company in the last couple of years, and we significantly grew our customer file, our product offerings, combination of organic developments as well as through acquisitions of companies like personalization mall and bridal choice and harry and david over the years, of course. and then we've grown our celebrations passport membership program giving us great customer metrics. so as we look to the future, we're very well positioned to regain the growth rate and mitigate the cost pressure. cheryl: as far as, as far as inflation, i wanted to ask you about that because are you passing on the cost to customers? because you're, you know, you're the connection between the customer, obviously, and the shop itself. whether it's for food delivery or flowers, etc.

are you finding that you have to pass those costs on to the consumer? and has that affected sales at all? >> we're doing so as little as we possibly can. we're looking at our pricing from a very strategic point of view. our customers come to us to express themselves, to connect with people in their lives. they realize that giving is gift. so we want to make sure that we're providing a broad range of price points and allow people to do that no matter what the occasion, no matter what the issue of hair household income and we have the offering to satisfy -- cheryl: we have to -- sorry, we have to run. unfortunately, we had those technical issues, but i've got to ask you really quick with, what is your busiest day of the year? >> busiest day of the day of the year is the friday before mother's day. cheryl: we love our mothers. okay. good. we'll have to have you back. sorry for the issues we had, christopher. have a great labor day. >> glad to be here. you as well, thank you. cheryl: all right. well, we are minutes away from

the long labor day weekend beginning, and as millions of americans are packing their bags to jet off for the last holiday of the summer, it's expected to be another weekend of turbulence for u.s. travelers. let's go live to madison alworth at tampa international airport in florida. we know there's picketing by the pilots going on. what kind of headaches are the airlines expecting this weekend, madison? >> reporter: well, cheryl, the question is always around those delays and cancellations. we're going to to see 12.6 million americans fly through our u.s. airports and 20% of them should expect delays. that's because right now 1 in 5 flights are delayed. that is better than what we were seeing earlier this summer, but it's still more than what we were seeing pre-pandemic, pre-2020. about 1 in 7 flights would have been delayed. so we have seen some improvement especially when you look back to may. from may to june there was a nearly 35% increase in air

travel service complaints. that's around 2 the 70% -- 270% above pre-pandemic levels. you know, finally, after all these delays and cancellations this summer, airlines are now stepping up to the plate. they're saying after immense pressure from department of transportation, some of airlines on your screen including american, united, southwest, they're all going to now provide meals for customers delayed by 3 hours and hotel rooms for stranded passengers if the problem could have been avoided by the airline. so that's some good news. more good news for passengers, we've seen better prices for this holiday weekend compared to earlier summer. still have a way to go when it comes to, you know, pre-pandemic prices. take a listen to this. cheryl: i don't think we have your sound bite, madison. [laughter] can you hear me? oh, did i lose your? this is one of those -- >> reporter: okay. yes, it really is. it's a long weekend, they don't

want us to be working, cheryl. so in terms of pricing, the average price right now is $280 round trip. before the pandemic it was $225. look, if you're getting away and you're getting away on time, consider yourself with lucky. cheryl: yeah. >> reporter: we are still a little below pre-pandemic travel because airlines have cut a lot of light flights. you know, i think it's time for the weekend, that's what this show is telling us. cheryl: i think it's time for everybody just to to go. [laughter] i'll tell you what, i traveled a lot this summer, madison. i gotta tell you, i loved it, it was great, but there were days it was not so great. so i hope that things get better at the nation's airports this fall, for sure. especially before christmas. madison, thank you very much. have a great holiday. >> reporter: thank you. cheryl: all right. all right. well, let's move on. today marks the last day that many junior-level wall street employees will be working from home. charlie gasparino's here to discuss what it means to really

go to work. get ready to go back to work, everybody. all right, take a look at the big board, we do have a selloff going into the close. we're down about 430 points. again, we're going into saw three-day weekend, markets are closed on monday. we'll be right back. ♪ ♪ ♪ ♪

we believe there's an innovator in all of us. ♪ that's why we build technology that makes it possible for every business... and every person... to come to the table and do more incredible things. when you shop at walmart, you get it. ♪ you spend a little less... .. ♪ ♪ ♪ ♪ ♪ ♪

(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. so you can live your life. that's life well planned. this is xfinity rewards. our way of showing our appreciation. with rewards of all shapes and sizes. [ cheers ] are we actually going? yes!! and once in a lifetime moments. two tickets to nascar! yes! find rewards like these and so many more in the xfinity app.

cheryl: labor day is looking like a hardback to workday for most financial employees. they are laying down the law for their employees to come back in. no more free peloton bikes and yoga at lunch. no morley kid lunches. >> do they serve craft beers at this these places? i think people feel the pendulum is shifting back to them. it was with the workers. they needed these people to process trades and now that we

have a slowdown. wall street is going to go through a slowdown. they are talking layoff coming. now the big banks, jpmorgan, morgan stanley, goldman, they are feeling like now we have the upper hand. we'll probably do layoffs. that's why you see them instituting hard and fast rules to get back to the office. i was read the memo from morgan stanley that said we want you in here. we are not going to test for covid. the same thing with goldman action. from what i understand jamie dimon is going to do the same thing.

they pampered the kids for a long time because they needed them, but now that they don't need them, it's tough love that's coming. maybe they will do away with woke sessions. for my money, this whole thing where the power shifted to these woke kids reached an absurdity. apparently at goldman action a year ago, we reported this at the time. there was one department working late on a deal wanted to have chick-fil-a. but because the head of chick-fil-a is a christian fundamentalist and anti-abortion. other members of the deal threw a temper tantrum. and management had to perform an intervention and calm the nerves. this is at goldman action.

it's really nuts. that's now, you knew the train was coming off the track with the kids. now the fed is raising rates and markets selling off. so now the kids have to wake up like everybody else. they have to seat chick-fil-a or keep your mouth shut if someone else wants a chick-fil-a. cheryl: enjoy your italian dinner tonight. >> i'm actually going to king's steak house. hair * the major averages are all down. that's three straight losses in a row. joining us is jay hatfield. i'm hoping you can validate what i said earlier to our viewers.

the 3-day weekends, please tell me i'm right. >> hi, cheryl, thanks for having me on. i would agree that you are correct. particularly when the three-day weekends is labor day weekends. that starts offset which is the worst month of the year for stocks. the reason for that is there is very little information flow and earnings reports. the nord stream pipeline shutting down in europe can destabilize the market. definitely people are nervous going into the weekend and going into september. cheryl: i feel like when people come back tuesday volume will pick up. that's what shift teaches us. we have had a couple of guests say they think oil is going to

go back up. you like chevron. energy is something you are watching. >> we are sticking to our 90-110 range for oil. it is flaigd europe between $300 and $500 a barrel on an energy equivalents basis. september is also a weak month from a weather perspective and energy demands perspective. so we might trade below our $90 range. but we think we'll rally on energy. >> they are predicting big terms in september. simon property group, i have got 20 seconds. >> what we favor is defense and

dividends stocks. the cam owns great properties like a shopping center in my hometown. way depressed. chair * jay hatfield, thank you very much. our session lows remain. we'll be back tuesday. sean: welcome to "kudlow." i'm sean duffy in for larry kudlow. president biden gave a divisive speech last night and said maga republicans are threatening our democracy. what do you have, peter? reporter: i had the chance to ask him whether he meant to sounds like he had an issue with