ashley: lyndon b.on son had tour buttons installed for order his favorite drinks. what were they, lauren, take a guess? lauren: yahoo, number one. confident. susan: old fashioned. a&w. ashley: what did you say? susan: a&w. ashley: you're both wrong. it was fresca. we now go to coast-to-coast. have a great weekend, everyone.

>> welcome up. neil cavuto and strong jobs report and strong influence and stocks are raising and normally not the case in the face of 337 more jobs and thousand -- 337,000 more jobs added to the economy and over the course of just the last, oh, what are we at two here, a bit more than two years of this administration, growing about 28 or 13 million jobs over 28 months much the bottom line is that's the kind of thing getting people normally worrying about the federal reserve hiking interest rate in the face of that. that still might happen but seeps to be a distant worry over the one coming that we're not in a recession or heading towards one. that could happen. get the read from david wagner at this capitol adviser port knoll owe manager -- portfolio

manager jared levy back with us. what do you make of the markets reaction? super strong employment report. we don't see that reaction when it's good news. why today are we? >> yards in aggie, hey, kneel. 369,000 folks lost their jobs on the backside of the market report and in the first five months of the year, 418,000 layoffs announced and the market sees a strong jobs data and great american labor swap and you've got jobs being created and got layoffs happening and the layoffs that are happening are mostly folks making lots of

money and folks getting hired for the most part what we're seeing is the lower wrong tiered jobs and confidence is okay and keep on that and thicks are for now doing all right. neil: stepping back from the jobs reporter and looking back i don't know what could happen in the next four hours and a lot could dissipate, who knows. i'll call this the relief week. we defaulted and got a deal and say what you will and not going into a recession any time soon given some of the latest data and tech is looking like the good old days and a lot disproportionally influenced by intelligence, i know, this might all just be a relief.

>> this was one of the worst levels we ever saw and 23% of basic names were up during this month and the market was up like 50 basis points and all driven by the tech names but you're exactly right here, kneel. kneel neil. it's all sentiment driven and 19.2 times over a fiscal year 2024 earnings rate and sentiment driven right now. neil: it's always in the eye of the beholder but that is above historical afternoons where you're testing the markets durability here? what do you think? >> i would say yes. looking back at inflation with the jobs report out today and average hourly earning ands rate that came in at 4.3%, i like to look at markets valuation relative to other periods that have seen this type of structural a heightened inflation and back to the 1970s and i understand the constituents within the index

itself are very different and valuation in the 15-17 times range. but nonetheless even if looking at valuation for it at this 20 times, it's putting it in the 95th percentile relative to the history and i would say, yeah, it's really expin sieve. you could make -- expensive. and you could make markets that where margins continue to increase over the last 20, 30 years and markets can be more insulated bay harder higher valuation here. all in all, it's pretty high in my opinion. neil: the number of people that bump into me and what a craft. i made that up. but some will say it's the markets back and nasdaq back and younger people saying i want in on this. they say we're excited by ai and

what'sen toed a to people that's the way it was originally in the internet era and the.c.com boom and a lot more pent up interest. >> the halo effect can be dangerous and i think really the real story in tech and had a beat down and rebirth and growth. it's the labor market as well and automation turning things digital and digital revolution and i do believe that as a whole if you just look at entry collectively, the tech sector, it's rich and don't see reason to by knew. there's certain companies that

will do well. again, semiconductors, domestic based. that stuff makes sense and all driven politically and pulling again and it happened inside of the indexes and creating this sort of fertilizer versus frequency. if you're more astute trader or investor, you might look to some of the overvalues that don't have the place, the best in breed status and don't have the big long game. and might view as short sales and be cautious going long and buying in tech, at least not abroad. neil: gentlemen, don't go too far because i want to pick your brains on the retail front. lulu hinted that the stuff you're hearing out of target and big retailers like home depot, we're not seeing that and might be a bifurcation going on and means two different views of the market. meanwhile back to politics front and center and talk about what's

going on in iowa and all the candidates crisscrossing there and ron desantis in iowa today and tram has been in iowa but a lot paying a good deal of attention to what's happening in that state. rich headson in pella, iowa, with the latest. hi, rich. rich. reporter: good afternoon, neil. this is the kind of travel schedule saying people are running for president and this thing is kicking up. there's a number of events going on in iowa today and more candidates coming here tomorrow but there's still candidates in many of the early voting states. that includes south carolina, that's where we find governor ron desantis. he was in new hampshire yesterday. he was in iowa the day before for a couple of days and he's coming back here. he's making the case that republicans need a two-term president, former president donald trump would only get one. trump argues he could turn the country around in just the first six months of another term campaigning in buford, south carolina desantis says that's

just nonsense. >> this will be trench war fair. trump broadened it out to the other republicans. >> chris christie coming in and he was at 6% in new jersey, which is, i love new jersey, but 6% approval rating in new jersey. what's the purpose? he's polling at zero and others are adata committee. not asa, but ada,. >> the former governor of arkansas and former administrator of drug enforcement agency and he'll be here in about an hour and holding an energy round table and at energy cooperative here in pella, about an hour outside of des moines.

hutchinson and other republicans are joined by more republicans in this field. you've got three more over the next week who are going to declare for president. former governor chris christie ran and dropped out and former vice president mike pence announcing in iowa next week. and the north dakota governor will announce in fargo next week. field's getting bigger. back to you, neil. neil: great job as always, rich. i want to go to mark penn and bill. gentlemen, you don't mind if i turn this upside down and back to joe biden and the employment report. there's a method to my madness and, mark, to you first. i think a lot of, you know, republicans are having a field day showing in a loop this video of the president tripping and stumbling at this graduation event. marying with other video --

marrying with other videos with similar things going on. whatever your view on that and fact of the matter in the middle of all that there's an incredible strong jobs report, 337,000 more of them and administration quick to point out in its 28 months in office, 13 million job haves been created and saying no president in four years has done what he's essentially done and a little bit more than two. so i'm posing this to you. do we appreciate the magnitude of what's happening on the jobs front and are we selling this economy and by extension joe biden short? what do you think? >> i think there's a potential here for attitudes for the economy to turn arnold f. you ask the average voter today, they think we're basically teetering on a recession or we'll have one. they're very upset about inflation. they poo poo the jobs stuff because they say, look, we had a pandemic and came out of the

pandemic and everybody employed but now we're beginning to have a convergence of inflation cooling off somewhat. the fed pulling back, the stock market coming back. >> this could be a development for joe biden. >> you're a great story in your own right and we're living in the moment and we -- the moments catch up with us and we with the moment and i'm wondering it this improvement in jobs continue and certainly it puts off. the likelihood of a recession or severe one. and then the backdrop of other economic activity that's picking and you happen wondering if the pack drop for the economy in another 18 months could be very different. and maybe not worse but better. >> yes, it could. the jobs report was certainly good but as mark pointed out,

the polls don't reflect that either and lacking and so far we don't know what's going to happen in eight months. i don't think there'll be a lot of doubts about the leadership and kevin mccarthy in the debt ceiling fight. he won the narrative. i'm not sure one jobs report or two or three will totally do the trick for the president want by kevin mctar think and less than we learned and both sides little unhappy and some conservatives a little unhappy and a lot of proudly supportingives are too and could show that -- both sides working with each other if not bipartisanship. how does that politically sort out? what do you think? >> wrote it off to journal

before the deal that deal would really work well for both biden and mccarthy. as long as mccarthy didn't get thrown out and republicans. my experience with triangulation against one group and trianglated against both the left and right, it's good for both kevin mccarthy and joe biden and the country they brought back bipartisanship and everybody compromised and not only that but after they compromised, it actually went through. that's good for everyone. >> very, very quickly and get your thoughts on this and credit remains on negative watts despite this >> if we're impacted what would it be? >> i think another bad sign. look, the whole thing with the

debt ceiling thing is that it's kind of a joke. everyone knew there'd be a deal. people huffed and puffed beforehand and finally in the end came to a compromise. >> remember, mccarthy came in on, what, how many ballots? 22 ballots it took to elect him speaker and it was a good moment for them. we'll see what it means going forward whether republicans can be united. remember, they've one-half of one branch of government so they don't have a lot of power now until they change things at the election box. neil: all right, gentlemen, thank you both. in the middle of all this, there's a push to get a business

guy to run. right now jamie dimon being touted jp morgan chase ceo and history of that. ross purr row and donald trump in 2016 so there is precedent here. very close to the same thing that went on in canada about 67 years ago when kevin oilery was being touted. all in all, things did work out for kevin and he's next. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get

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neil: a big wall street business guy being wood to run for the highest office in the land. utes jamie dimon and latest to get some wall street tongues wagging and making a final presidential candidate and michael bloom burg in the same position and didn't go well for him. there was a brief period recommending acoca running for the highest office in the land and russ per row did it and in 1992 got 19% of the vote, not a single elector rale vote but reminded soaks sometimes you have a good -- folks if you have a good message and you're clear you can take it all the way and donald trump enters in 2016.

kevin o'leery, i've been a big fan and followed him with intrusion and kevin was very, very -- intrigue and kevin was very, very close to maybe being a prime minister in canada. conservative party leader, if they won, he'd be by extension the leader of the party and country. guess it was something to do with quebec and things not looking promising there and bottom line, mr. wonderful decided to do other things. that was six years or so ago. can kevin, very good to have you. >> thank you very much. i appreciate it. neil: you're well known in canada and you stepped down and a lot of people were pushing you to run and take over the conservative party leadership. you know, this a parliamentary system, but you looked at quebec, explain where that was important and why that maybe changed your trajectory. >> you've got to think of quebec as the florida of canada. it determines the ceo in the

canadian parliamentary system as the prime minister. depending on the ebb and flow of other provinces, you really need to win at least 23 seats in quebec if you're going to run a that jordy seizure disorders mandate. majority mandate. my whole premise in 2016 was give me this job for four years and let me apply what i believe are good pensional skills and i'll turn this country -- execsal skills and i turn this -- executional skills and i'll turn this country around. canada is the richest country on earth run by idiots and i hate to say that as a canadian, because i have a passport but, i'm also irish and amarati but i'm really unhappy at how canada is run. very weak skill sets in management there and that's the premise by which you want someone from business to run a country. neil: you've been very public at your disdain for the prime minister now, prime minister trudeau that he's doing a horrible job and making things

worse. you still subscribe to that; right? >> he's one of the most successful politicians in history. he's been that that seat forever. he has zero executional skills and he's a horrible manager. he perhaps is the worst manager canada's ever been under. the absolute worst. it can't get worse. absolutely a negative 10. neil: how do you feel about trudeau. you just answered that. let me ask you though, you were being doubted and you're highly regarded in canada and in this country as well, very successful businessman. it's a great story. but i've often told people in studying a lot of business type getting wooed to run for high office albeit in canada or the united states that it's not as easy and making in the political world is just not as easy as well. that's what made donald trump's victory back in 2016 so remarkable. it was so unusual. now the fact that they're

touting jamie dimon to run. what do you make of that? >> you know, what you want to find and this is very interesting given the race how it's shaping up state side, find someone with legislative skills that are proven and in other words executed at a government level and also has great executional skills in business. there is somebody, doug burgum in north dakota. i came up with him in the software industry and he created a massive software business that microsoft bought, but he's also been very successful as governor of north dakota. i know that because i invest in north dakota. i've met him and i've talked to him. he's the kind of, you know, skill set on both sides of the equation. he's not well known yet and people start saying, wait a second, this guy is a legislator and has executional skills it in business and maybe will work well in government instead of

taking someone out of business and saying go figure out how legislation works because that's also a tricky game. in burgum you've got both. maybe he'll be an interesting candidate. neil: i remember when akoca was run for president and popular and i remember talking to him sometime a it's not going to work. a lot of wall street business types discover what might work for them in business doesn't necessarily translate to politics? >> i don't agree with that. i think business is politics every day. you're always trying to solve problems, negotiate deals -- neil: why do they not make headway with donald trump?

>> trump had great skills. growth orator and communicator and skills in business and no question about that. for me as an investor, at the end of the day, we're all investors in america and take our money and put into savings and wont our economy to -- want our economy to work. what matters more than the who's the president and what's the policy. at the end of the day, i invest in policy sos i'm looking for leadership that's going to give me a package of policy and under the trump leadership, he was very controversial. there's no question about it. look at the policy for small business where i operate, which is 68% of the economy. that policy less regulation, more pro business, lower taxes, that's the kind of stuff that makes an economy grow and you're seeing that benefit right now. i'm not so sure that it won't be policy that determines the next president regardless of the party. i want to see policy packages looking forward to the debates

and bring on the burgums of the world and hear what they've got. neil: the track record is a little sketchy but what's remarkable is the success of most well known rich presidents, john f. kennedy, franklin roosevelt. they were among the richest we've had and of course democrats and they appeal to the common man, which seems ironic and clearly worked. democrats have had more success with rich guys and those representing our wealthiest families making it to the highest office in the land. what do you make of that? >> you described the american dream. why did i move my business out of highly taxed ontario to cambridge, massachusetts? because it's america. it's where you go if you're an entrepreneur. why does everybody want to move here from around the world? because that dream can come true. i came from nothing. i was a middle class family. america gave me that opportunity to grow a business and turn it into multibillion dollars in

transactions. that's the american dream. why wouldn't you want that -- wouldn't you want that emulated by your president. yes, i want a successful entrepreneur as president, man or woman. we ultimately want to do that and that's been the american dream since i was born and it'll be the same in 100 years and that's what makes this country great and why i do my business here. sure it's got problems, but you want the leader to actually be the essence of the american dream to embed that in the culture and keep a straight and narrow. that's why it's the greatest economy on earth. >> neil: my good, kevin, how bad were things in canada to go to cambridge, massachusetts? >> i'm not in taxachusetts anymore. i move to north dakota and i like the fact that 3,000 license plates a month move to florida out of new york. everybody is leaving massachusetts because they can

after the pandemic. california is not even doing business. go to places like oklahoma, west virginia, north dakota, that's where the action is because they're pro business. kevin o'leary, leary investors and shark tank. did okay. looking a the debt elimination. not talking the federal government baz we're nowhere near that but you. after this. ♪ ♪ the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently.

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next month new york will start banning any short term randells less than -- rentals less than 30 days, which makes up the bulk of airbnb's business. even for stays longer than 30 dais, the host actually need to be present in the apartment during the rental period and need to register with the city. also other small rules that airbnb are onerous like banning inside bedroom locks for the guests and airbnb calls these extreme, oppressive and clashes with the federal section 230 law that protect as lot of tech platforms from liability of its users. new york mayor eric adams office meantime say they're committed to protecting the safety and community livability for the residents in the city. and they will look into these lawsuit claims but new york as you know like other big urban centers have dealt with affordable housing shortages and illegal hotels that take affordable homes off the market

and new york accounted there are $85 billion in sales for a airbb and had 10,000 confirmed july guests at 5500 short term rentals and this isn't the first time you've seen opposition to airbnb and essen certainly not w york city and officially had to ban party houses last year and fought new york city on what they thought was invasive information sharing laws just three years ago and new york city rents continue to hid record highs. a shortage of listings and the high mortgage rates so imagine if you instead of your home in new jersey had to pay $4,000 for a studio apartment. neil: that would not be good. all right, thank you, susan. great job as always. susan li. quick, what's the difference between the government and you and your debt? the government can raise their credit line, it just did, by a lot just to keep spending.

you don't have those options but jake has options for you. how do you tell americans right now stuck with a combined $1 trillion in debt, a record, how to bring that down? >> abundance believable. unbelievable. thanks for having me on, neil. we can't just keep spending and spend and know that americans are feeling that crush but they're using credit to this and it's a horrible idea and don't bury your head in the sand. ignorance isn't bliss, it's broke. get on a budget and live on less than you make and get over your debt. may favorite is out there through ramsey solutions. neil: that guidance and you and

dave ramsey say this, no matter how much you make, you can have millions and still go break. broke. so many star dos and this is a problem across the income spectrum and tough to tell someone not to spend as much. how do you get past that? >> i easily get past it, neil. look, you may not know this but my husband at i at one point had over $460,000 inform debt. i'm talking $280,000 in student loans so if anybody can equipped to tell people to spend less than they may recollect, it's me. i've done t i've paid off the debt and i can tell you there is so much benefit in the peace that you have from getting ahead of this, paying off your debt and living on less than you make. it's so, so important and you can do that too. neil: sounds, very good and you stuck together through this as a couple and that says something as well. amazing stuff. hopefully some people are hearing that message. in the meantime here, a lot going on in washington right now

and how we avoided the whole de-quality and everything else. we're not over that on the government side just because weave raised our debt. we're talking to kansas senator roger marshal on that and so much more after this. ♪ ♪ shelves. shelves that know what taste buds want. shelves smart enough to see, sense, react, restock. ♪

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>> this adds $1.3 trillion and beyond that we ask for work requirements but in the fine print, that disappeared and finally the regulatory reform to me looks like dust in the wind. storm in the national debt and debt limit colliding when two storms kansas city chiefs lied, it'll be ugly. why doesn't the understand every time you said earlier in the show and he's printing money, borrowing more money and fueling inflation and that's what your market's hate right now. they don't like seeing all this instability and there's no end in sight to inflation. >> spiker mccarthy dealt the hand he was played and --

neil: senator, this expires and gets us through the election and on january s you're back at it again and it's weird for the republican who wins the presidency, he or she, we don't know how it'll sort out, will have a bit of crisis on their hands unless it's resolved sooner. >> you're right. and that's what is wrong with washington is the uncertainty we create as a small business owner myself, running a small medical practice or a big bank on wall

street we like uncertainty and driving y market. neil: not today, senator. you'd think that but maybe they're relieved and between that and the fact that we didn't default. i know there's still a question and downgrade about the ratings and >> what do we go about the national debt and long term it's the greatest threat to national security as well as our economy. we need long term solutions. i have faith in susan colins who's our new appropriations chair and she and patty murray will take on these 12 buckets one at a time. the ball's in our hand. let's run with this. let's make america great and

let's try to balance these budges and slow down inflation. neil: good luck on all of that. roger marshal, have a good weekend. the kansas senator and small business and economics economy s committee. a lot of committees. a big market runoff and exploring in greater detail and jackie deangelo and -- jackie deangeles of the big market show is with us. >> we'll break it down. what does it mean for jerome powell and the markets in the back half of the year and rate hikes coming and persistent inflation and it's economy on the ticket and who's addressing it best and darryl issa and china and more on coast-to-coast after this. ♪ i can't, you know, thank my parents enough for making sure

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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. neil: nothing is keeping this market down and the dow is sprinting ahead at 641 points and s&p, nasdaq and nasdaq its own separate story soaring and continuing to do so. in the face of a strong employment report, in a momently

that would weigh stocks but there's the flipped fear that it leads to higher interest rates and even with that potential and even with investors on the wire saying we're not out of this negative credit watch. think that would ding this. it's not. david wagner back with us. jared leave i have back with us. levy back with us. david, why is that not happening and a lot of potential head winds but the marks say no, bye bye bye. >> yeah, absolute i. it's all sentiment driven and the fact we got through the debt ceiling crisis without mayor markets in the crisis and it's not surprising and digging into the financial responsibility act, the concessions from a spending, government spending standpoint just weren't there. i think that that's absolutely driving market sentiment that we're not going to cut off as much growth as we originally expected, not just next year and basically for the next six years looking at all encompassing within this act. neil: combine that robin lou bust sentiment with lul lurks

mon showing -- lulumon showing 24% sales growth and talking about sales year looking robin lou bust and raising guidance -- rorobust and raising guidance ad that's a remind their with all the creep hanging about the economy, might prove true down the road but not right now. what do you think? >> yeah, i mean, what's fascinating of the lulu story and one of my ladies in the office believes it's all pickle ball driven and the young spenders out there, they don't know what recession is. i mean, think about it, younger than 33, 34, the folks that are probably buying a lot of this stuff, again obviously they settle the market, they don't know what the recession is and short term market is and last time there was a recession, the government came in and rescued with helicopter money and the fear has not been baked in with international money and 79%

growth in china and internationally and opening 30, 35 new stores overseas and the short answer to the whole thing. i think right now in the debt ceiling deal we leased a lot of optimism short term and i think that a lot of folks still believe that the risk of recession is not far off and the fed will get there and they're not wrong and again we're tracking along here. it's rolling forward and it's bye bye bye. i'm not saying do that, but that's that sentiment and david said it before, and something you've got to ride. neil: david, i wonder now thousand most people are expecting that the fed has a hike and maybe two in its quiver, but it's not going to happen at the meeting in a couple of weeks. i'm wondering, given this strong report, how might they respond to that? >> you know, you used a word earlier in this program, neil,

bifurcation and seeing a bifurcation right now between the affluent spenders and kind of lower end spenders. obviously lulu caters towards more of the affluent spenders exactly what jared is speaking to there. looking at reports of dollar tree and dollar general, those are horrible reports. even foot locker and commentary at bernstein conference gave a bleak outlook from a spending perspective right now. if you look at things a bit further, bank of america, just about a few weeks ago came out with data that they're starting to see spending decline, especially on higher end stuff and in the affluent consumer but that's a lot of mum bo jumbo and and american express and visa from this week they're seeing double digit growth and axp, visa and they cater towards the more affluent people and they have capital right now. neil: jared, would you characterize as a bull, a cautious one, a bear? what?

>> i'm a realist. you and i have been through some recessions together. i remember when the great recession was in its full throes. we were going back and forth and i was, you know, i was nervous back then ahead of it, duringty thought it was going to be long protracted and right now i'm aequorins bull in certain sectors and we have a be really careful about stories versus facts. and we have to be really hyper-focused on the real picture not just on what the hype. neil: the snapshot today we might be getting. gentlemen, have a safe and wonderful weekend. in the meantime, you might not enjoy this if you're in florida or along the gulf coast, the storm that's brewing has formally season hurricane is can i being off and we'll keep an eye on it after this.

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i got into debt in college, and no matter how much i paid, it followed me everywhere. so i consolidated it into a low-rate personal loan from sofi. get a personal loan with low low fixed rates, and borrow up to $100k. sofi get your money right. >> welcome back to cavuto close to coast, florida is not in the track of the tropical depression but rainy season storms could get extra fuel from it adds we are still here in a flood watch as we could get a couple inches of rain over the weekend. leaders are urging people to stay prepared for this hurricane season. aaa have surveyed people from

florida, georgia, and the carolinas on natural disaster preparation, 24% of floridians say they ignore warnings to evacuate if there was a hurricane. across all states most people said it would have to at least be a category 3 for them to evacuate. >> i would evacuate in a category 5 probably. i would feel differently if i already had children and family. when the time comes i will be leaving around 83. >> everyone stays home or going anywhere even with a 3, four, five. my family everyone i know no one goes anywhere, stubborn about it. the buildings here are legit. we have hurricane windows and all that. >> interesting to hear. adam: apologize for the truncated time. now to "the big money show". hey, guys. jackie: i'm jackie deangelis. taylor: i'm taylor riggs. brian: and i'm brian benberg. welcome to "the big money show".