the new year start. take a guess. >> it would be a complete guess. ashley: go for it. >> do it now. september 25th. ashley: no break. i will go for march 25th. the answer is? >> what is the answer? ashley: march 25th. better to be lucky than good. that is always true, right? wow what an interesting day it has been. we had space launches. the dow up 222 points not bad at all. we're almost out of time. successful commercial launch for virgin galactic. lauren: successful day in the markets. >> we're out of time for "varney & company." "coast to coast" starts now. ♪. neil: the highest court in the land rejects affirmative action at colleges. says schools can no longer consider race and admission.

depending where you are in the political spectrum it was conservative majority 6-3 vote. three liberal judges not happy. former president of the united states barack obama not happy. the present president of the united states not happy. he is expected to address the american people in the next half hour. let's go to lydia hu on the far-flung ramifications of this decision many saw coming but didn't see it coming this decisively. lydia? >> neil, some ways not a surprising opinion. the supreme court overturning decades worth of precedented now ruling colleges cannot consider race as a factor in the college admissions process. two cases brought the challenge before the court. the case against the university of north carolina decided 6-3 as you mentioned. the case against harvard decided 6-2 because justice ketanji brown jackson recused herself. we're getting reaction from a variety of sources including

harvard one of the defendants in this case, one of the respondents. they say quote we will certainly comply with the court's decision. the fundamental principle that deep transformative teaching, learning, research depend upon a community comprising people of many backgrounds and perspectives and lived experiences. still neil, this opinion will force highly competitive schools like harvard to find race-neutral ways to diversity on school campuses. chief justice john roberts if the majority opinion saying quote many universities too london just the opposite. in doing so they have concluded wrongly that the touchstone of an individual's identity is not challenge, his bested skills built or lessons learned by the color of their skin. during the oral arguments in october that lasted five hours, justices considered ways other than race to create diversity. things like giving preferences based on socioeconomic status.

top 10 programs who admit students who graduate near the top of their high school classes and elimination of legacy practices of children of alumni. justices sotomayor kagan and jackson dissent. universities should continue to use all available tools to meet society's needs for diversity and education. despite the unjustified exercise of power the opinion will only serve to jai-alai the court's own impotence in the face of a america who cries for quality resound. unc, and harvard argued that admissions process promoted diverse campuses to promote leaders. this will have, potentially other areas although this decision won't directly apply to employers there are some legal experts that say this could foreshadow challenges to other areas like dei, diversity equity

and inclusion initiatives in employment cases in the future. neil, back to you. neil: very thorough, thank you for that, lydia hu on all of that. the white house reaction and the president apparently reviewing the decision what its options might be. don't know what that means. the president will be talking about this in the next half hour. jacqui heinrich in the next half hour with more. jacqui. >> reporter: we'll hear the president speak in half an hour from now but when the white house was asked about this case last year, this was their message. >> to make sure they take their voices to the ballot box. that is the way that we are going to be able to fight back in a way that is effective in a way going to make a difference. we have republicans who are doing extremes. president calls them ultramaga. they are part of the ultramaga way who are trying to take away the rights of the american people. >> reporter: former president obama said today of the ruling

like any policy affirmative action was not perfect but it allowed generations of students like michelle and me to prove we belonged. now it is is up all of us to give opportunities to students that they deserve and help them to benefit from new perspectives. to find race-neutral ways to support student diversity efforts. the justices were considering two legal separate challenges how harvard a private university, university of north carolina a public school made admissions decisions of after a coalition of asian americans said they were held to higher standard than many black and other students. for decades they allowed use of racial criteria in competitive admissions so long as it did not impose quotas. the ruling could affect for other groups. consideration of race in public admissions, neil, banned in nine states, including california and florida, neil.

neil: thank you for that, jacqui, at the white house. john hu with us, former deputy assistant attorney general. john what does this mean for schools, academic institutions colleges going forward? what does it mean? >> it means that schools and colleges and universities have to obey what the court calls the fundamental principle. in our constitution that extends from the declaration of independence to our terrible civil war to the civil rights movement of the 1960s, as the court repeatedly said the constitution is color-blind. it knows nor it tolerates any classes amongst our citizens and for too long the court said we allowed this exception for colleges and universities because we believe racial diversity led to educational benefits but when the court asked where's the proof, all they got back from the educators was just trust us. and so one thing that is interesting about the dissents here they tried to say well you

could still use race in this way or that way. look at the essays. look at extracurriculars but the court will not have any of it. in the last few pair of the majority opinion by chief justice roberts you can't say you're not doing race but secretly doing race. the court will be vigilant to make sure harvard, unc, other universities in the country including my own where i'm standing right now live up to the demand ever the constitution that the government not treat citizens based on the color of their skin. neil: but how can the court police that? i mean what if these institutions john, don't change that? the numbers remain roughly the same, whatever plurality there is of minority students or you know super, super minority of asian students who were angered by this policy, if those numbers don't change in the next academic year, the academic year after that, then what happens? >> neil, that's a tough

question. the court doesn't really address this but you can kind of read between the lines. the court actually goes through the sorry history after brown versus board of education. all the things southern egg is a mitigationists did to fight back against the court. to try to evade demands race not be used in education back in the 1950s. it took the court more than 10, 15 years of case after case after case. your question is a good one because it shows that in the next few years, maybe 10 years, over 15 years it will take not just the supreme court but also the lower federal courts, also interest groups, law firms, families, even kids will have to bring more lawsuits until all these schools live up to the harvard case. neil: should they in their essays particularly minorities, state that they are minorities? do they have anything to lose doing that? in other words, that gets back to my earlier question here about how you prove this or

whether there is any harm if that were one of the considerings that a school or harvard might weigh without saying it is weighing it? >> neil this is really -- you didn't read these opinions, sounds like you did, did you? they actually spent several pages discussing i never seen a supreme court opinion like this, several pages discussing what students should be writing on the college admission essays. the dissenters say why can't a student say in their essay for admission what their race is? and the chief justice actually responds, he says, you can't just say i'm asian or i'm jewish and i'm black and just use that as a proxy to get in. what he says you have to show, if you're an individual, how that race, how your race led to challenges that you had to overcome or inspired you to do something different, to be

better than you were. and so that in every case the chief justice says you have to be treated as an individual that race, as race by itself doesn't advantage you, or disadvantage you. neil: i see. so the struggle would be what you write about, not whether it was the race that provided the struggle but that you know can be in the eyes of the beholder. how does this extend john, even to the work place and so many companies are now very much into diverse workforces goes all the way up to the president's cabinet, a i do verse cabinet, a diverse corporate board? you've heard and seen this, it is entrenched in our system now, does this change that? >> again, that also is a very interesting part of the opinion. what the court says is that race should not be used by the government. this does not apply to private employers, to private individuals. if people want to be racist with each other the constitution doesn't speak to it but congress

passed a law called title vii of the 1964 act which prohibits the use of race in employment decisions and what the court has said is that you can't discriminate on the basis of race. that's the harvard case. what the court is sounding the bell on is in a zero-sum game like admitting people to classes, like choosing people to hire it's fallacy to say oh, we'll advantage some people because of their race and that doesn't hurt anybody else. that can't be right. it is a zero-sum game. you can't get out of pretending you're not discriminating by simply saying you're helping others. for your direct question, neil, employers should be reconsidering after this decision any race-based affirmative action programs in hiring using diversity as a pretext, as a cover for just quotas. the courts, the court is going to be vigilant to make sure that anybody who receives money from

the government, anyone covered by ememployment laws lives up to the principle that the law and our con are color-blind. neil: amazing. no doubt there will be a lot of reverberations from this. you spell out great issues, john. always fruitful to talking to you. john hu, former university of berkeley professor and berkeley law. the administration hinted at some executive actions it could take in response to that. whether they will hold any weight because of the supreme court decision, because there is no stop after that, unless congress enacts new laws, that could be a leap. we'll get the latest from shannon bream at the supreme court after this.

hi, i'm todd. i'm a veteran of 23 years. i served three overseas tours. i love to give back to the community. i offer what i can when i can. i started noticing my memory was slipping. i saw a prevagen commercial and i did some research on it. i started taking prevagen about three years ago. i feel clearer in my thoughts, my memory has improved and generally just more on point. prevagen. at stores everywhere without a prescription. with a majority of my patience with sensitivity, i see irritated gums and weak enamel. sensodyne sensitivity gum & enamel relieves sensitivity, helps restore gum health, and rehardens enamel. i'm a big advocate of recommending things that i know work.

i don't want you to move. i'm gonna miss you so much. you realize we'll have internet waiting for us at the new place, right?

oh, we know. we just like making a scene. transferring your services has never been easier. get connected on the day of your move with the xfinity app. can i sleep over at your new place? can katie sleep over tonight? sure, honey! this generation is so dramatic! move with the xfinity 10g network. we moved out of the city so our little sophie could appreciate nature. but then he got us t-mobile home internet. i was just trying to improve our signal, so some of the trees had to go. i might've taken it a step too far. (chainsaw revs) (tree crashes) (chainsaw continues) (daughter screams) let's pretend for a second that you didn't let down your entire family. what would that reality look like? well i guess i would've gotten us xfinity... and we'd have a better view. do you need mulch? what, we have a ton of mulch.

♪. neil: you know i was watching shannon bream cover this outside the united states supreme court, they're knee deep in the smoke from the fires. yet she is going through this page by page. i don't know how she saw the notes in front of her. it looks a little clearer, shannon, this decision even with the 6-3 vote doesn't have clear indications going forward. what do you see happening? >> listen we have to go by what we got from the majority of the court here which is essentially saying the programs harvard and unc with race a factor and

considered here were not constitutional. plaintiffs in the case who came forward, many others, asian-american students with perfect test scores, off the charts gpas and could not get into the schools. here is a little bit what the chief justice said talking about this. students must be treated on basis of her his or her experience as an individual, not on basis of race. many universities too long have done the opposite. in doing so they concluded wrongly the touch sown of individual identity is challenges bested, skills built or lessons learn but the color of their skin. our constitutional history does not tolerate the choice. the asian-american students is a says this worked against them. justice sotomayor red it from the bench. deaf tating impact of decision cannot be overstated. majority will entrench racial segregation in higher quality education, because racial inequality will exist as long as it is ignore.

we're not telling to you ignore it. you can't use it as a factor in that way. if students want to write in the essay their challenges, racial identity, national heritage, those kind of things, they're free to do that and schools are free to consider it. it may show up somewhere. there can't be quotas, numbers, slots, that kind of thing, neil, that has to end. neil: let me ask you about this. donald trump was taking credit for this decision, saying it ended the policy he abhorred. there are different ways of reading that as a candidate. he wasn't that quite black and white. he talked about conservative justices neil gorsuch, amy coney barrett and made up six justices in the majority, part of that majority that voted this way. had they not been there would we be seeing this day now? >> wealthy bit, if you had two or three justices that had come from the other side of the aisle, they were democratic

nominees, appointees i wonder whether the court takes the case. there are four seats secret vetos get something on the calendar, i wonder if they would have. if they had i imagined case would have turned out differently. the three democratic appointed justices stuck together. in one case justice jackson was recused because of her role with the board of overseers in harvard. if you added another 3:00 justices who were democratic appointees i doubt this case would not come out the same way. we heard former vice president pence asked for reaction, i'm proud of this coalition we built, this court we put together, also giving the trump era credit for what we saw today. neil: you know, shannon, i didn't read through the whole thing like you do, i just go on my cliff note versions here and i'm just wondering how in the future colleges like harvard and yale and unc, all of these others start proving they're living up to this now law of the

land? dot breakdown in their admissions have to change so you don't have the same plurality of minority students, whatever? how will it be judged? >> it will be interesting to watch this going forward. both of the universities involved, unc and harvard put out statements with their leaders they will absolutely certainly comply with the decision of the court with the law. so they're pledging to do that. i think it is going to be a case potentially after plaintiff down the road who says i did have the perfect test scores, i had everything across the board and didn't make it in. what's tough with a private university it is marred to get a look at records. that is something they sought in the hower courts, trying to look at harvard's numbers, what were the files like, what were the factors put somebody into the accepted column. i will suspect there will be students watching this very carefully their applications as they go through the process. i wouldn't be surprised to see future litigation to who feel

like some way the schools are not complying if they don't get in they may try to make that argument. neil: what is crucial all schools getting into schools, not just best ones the college essays. in the essay talk about their life experience, what they learned. there might be a way for many minorities to include that experience in those essays. now the court addressed that somewhat i guess. >> they did. neil: they're free to say and point out what they want without pointing out the obvious, aren't they or are they? >> students are free to share whatever experiences they have and majority opinion says they can't use this as a workaround for what we have today. you can still have the essays they can benefit the student, benefit the school, looking at a holistic approach but you cannot use them in a way you're looking at the essay, ah, this person is a specific race, let's make this specific decision. the court warns schools about trying to do an end-run what the heart of this decision was

today. neil: got it, shannon, thank you so much. shannon bream at the supreme court weighing in on this. there is that one big decision we're waiting on tomorrow. now of course will be on the president's 400 billion-dollar college loan relief program. up to the justices to decide whether that passes the smell test. we'll know that presumably tomorrow. we shall see. meantime, corner of wall and broad with one more day of trading after today, for the month, for the first half of the year, we are looking on a winning note here, certainly for the dow, the s&p, and the nasdaq, also racing along just nicely but nothing like the nasdaq, now up on this half in excess of 30%. stay with us. ♪. ♪ ♪

the biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. it still does. what can you do with spy? ♪ ♪

♪. neil: all right. the next to last day of trading for the month and the first half

of the year ant on both counts, for all major market average as stellar performance particularly the half year when you look at the s&p 500 up in the high teens and the nasdaq up north of 30%, i believe for the dow it is up about two to 3%. again i'm going, this, well actually, this proves it to me, this is about a little less than i said on that, about 30% for the nasdaq here but all wraps up tomorrow. history tend to suggest in the second half of the year you do bettered after a strong half for the second half. that could be appetizer. larry glazer, what he sees coming. larry, what do you see for the second half? >> neil, as we close out the first half of the year to appreciate where we came from before the first half of the year. last year incredible pessimism. 401(k) balance down 20%, soaring inflation, rising rates,

fears of imminent recession. today we had a gdp report, if you were expecting a recession tomorrow, not so fast. 2% growth seemed like a lot but better than people expected. the story for the second hatch of the year is the story for today. u.s. consumer incredibly resilient, right? resilient housing market. resilient labor market. jobless claims much better than expected. those all things are positive. the bad news for the second half of the year, the fed has more work to do. they have to raise rates to rein in inflation which is stubbornly high. it is not going anywhere and those higher rates will create competition for stocks. the recession may be prolonged. we may ultimately see it six months later than we thought. neil: again, it is not showing up in the data yet. you referred to the first quarter gdp number revised from an increase of 1.3% to 2%. so steady as she goes. a lot of people are saying banks are holding up very nicely. they just passed the annual

federal reserve stress test to see how they could do in a mock-up of a meltdown and apparently they all did okay but, but that is where rates are now. i'm just wondering if rates go another couple of, you know hikes higher, then what? what do you see happening for banks financial institutions with that background of more rate hikes to come? >> well earnings season is just around the corner. we always start oaf with banks. we'll get to hear how those banks are weathering higher interest rates. inverted yield curve is a strange phenomenon, higher short term yields and lower long-term yields. that is getting worse. it is problematic for banks. it is hard for banks to make money in this environment. speaking of banks, commercial real estate, office buildings not getting better anytime soon. that we know will hit tax base of blue state municipalities and they exit those to move for

greener pastures. those are concerns on horizon. fed made it clear higher rates ahead and more work to be done. retirees, 5% yield when you can sit in cash that keeps money out of risk assets. we should appreciate expectations were so low companies have been able to navigate this environment. there is expression, neil, boiling the frog. keep rates at these levels too long you do damage. you boil the frog. we don't want to boil the economy which is the frog we're talking about it anyway. neil: the frog never appreciates it any way. give me a sense where we are going. technology is suddenly the ringleader as it was in the prior bull run. it might be a smaller pflumwer number of players. might be due to artificial intelligence. whether this happens to the market and billionaire ken fisher says it's bull to him

that will last for a while, do you see technology again leading that charge. >> don't confuse the stock market averages with the average stock or the economy itself. neil: right. >> consumers feel good when the households its value. those hand hold, magnificent seven names that is great. that is not representative of the overall economy. you have two things working right now. you have a.i., technology stocks and weight loss drugs. there has to be more to the story than just those two things and i think the average stock is not that expensive but those stocks are fairly expensive right now. neil: they have been the golden, the golden touch for the market. we'll keep an eye on it my friend. larry glazer, thank you. >> thank you. neil: mean sometime look what popped up in ukraine today, former vice president of the united states mike pence had a chance to meet with president zelenskyy a lot of people thinking zelenskyy is using this opportunity where there is mayhem and a near mutiny in russia to advance his troops in all directions. that is apparently happening. what mike pompeo former

secretary of state sees happening now. (man) what if my type 2 diabetes takes over? (woman) what if all i do isn't enough? or what if i can do diabetes differently? (avo) now you can with once-weekly mounjaro. mounjaro helps your body regulate blood sugar, and mounjaro can help decrease how much food you eat. 3 out of 4 people reached an a1c of less than 7%.

plus people taking mounjaro lost up to 25 pounds. mounjaro is not for people with type 1 diabetes or children. don't take mounjaro, if you're allergic to it, you or your family have medullary thyroid cancer, or multiple endocrine neoplasia syndrome type 2. stop mounjaro, and call your doctor right away, if you have an allergic reaction, a lump or swelling in your neck, severe stomach pain, vision changes, or diabetic retinopathy. serious side effects may include pancreatitis and gallbladder problems. taking mounjaro with sulfonylurea or insulin raises low blood sugar risk. tell your doctor if you're nursing, pregnant, or plan to be. side effects include nausea, vomiting, and diarrhea which can cause dehydration and may worsen kidney problems. (woman) i can do diabetes differently with mounjaro. (avo) ask your doctor about once-weekly mounjaro. - i take caring for my kitty very seriously. when i found a health monitoring kitty litter, i had to meet the creator. - oh, hi, kitten! - please! call me martha. this litter seriously stops odors

and it changes colors. - [daniel] go to prettylitter.com.

first, there's an idea and you do something about it for the first time with godaddy. then before you know it, (it is a life changer...) you make your first sale. small business first. never stopped coming. (we did it!) and you have a partner that always puts you first way. (no way!) start today at godaddy.com. - this is our premium platinum coverage map and this is consumer cellular's map. - i don't see the difference, do you? - well, that one's purple. - [announcer] get the exact same coverage as the nation's leading carrier. starting at $20. consumer cellular. hive blockchain, a leading bitcoin miner and data center owner, builds infrastructure that powers the bitcoin blockchain. featuring a robust growth strategy. aims to double their mining capacity.

all using low-cost green energy. hive blockchain technologies. ♪. neil: mike pence paying a surprise visit on president zelenskyy and ukraine today this as we're getting reports ukrainians are using this void now has to be filled with disruption, some say the actual eruption of the wagner group, that mercenary military force of russia damn near had a full mutiny in moscow. that didn't happen but in that gap there are these changes taking afoot are and ukraine now firing on all cylinders in all directions to try to end this war. mike pompeo former secretary of state with us now. secretary, always good having you. what do you make of obviously ukraine trying to take advantage of this? i don't know how successful they are but they see this confusion in russia as an ideal moment to do so, is it?

>> well, neil, thanks for having me on today,. neil: thank you. >> i'm convinced ukrainians are preparing with enormous u.s. support, been preparing this summer to retake sovereignty, to retake the land putin has sustain by force, committed atrocities by doing, i guess they will consider to follow the strategic plan to advance to retake that. i'm hopeful the united states and europe will keep eyes on the prize. whatever took place these past days in russia, i still think there is great deal of confusion for that. it couldn't have been good for vladmir putin. we have to remember why america has a deep abiding interest. i'm glad toe associate vice president travel there today. i hope he will learn what president zelenskyy sees are hears knows and american people will remember this is certainly important to vindicate the ukrainian peoples right. this matters awful lot for america to get this right.

xi xinping is watching close what is taking place in europe and if the u.s. is resolved to protect human dignity, property rights, all the things that make america unique and special place and for american citizens for hundreds of years now. neil: do you think the administration is embarrassed by everything that went down last weekend? >> i imagine they're disappointed but not embarrassed. xi xinping killedmillion people across the world and didn't lose a wink of sleep over it. i'm sure he is disturb, disturbed what happens if you give individuals too much power. same things with commercial leaders, senior leaders at alibaba who were reined in when they got a little too big for their britches. prigozhin got too big for his. xi xinping is looking at how you solve struggles.

how that that -- neil: i didn't have a pleasure speaking with you post this crackdown, near mutiny, some called it a coup in russia and vladmir putin's behavior, some quickly seized on the fact that he fled moscow for for. pete: st. pete and not flying out of the country at all and i wonder if that comes back to bite him at all. what do you think? >> i think it is hard to know what is really going on inside of russia at any given time. those of us in the west, certainly those of us without access to classified information i think we're often guessing about the internal dynamics there but two things i think we can say with absolute certainty, this was not vladmir putin's finest day, you're right. think about a different decision political leaders make. zelenskyy chose to stay. president ghani in afghanistan chose to flee. the country collapsed around

him. put thin chose to leave but he managed to get control back a little while. this was not his finest moment. second i think you will see increased clamp down. there was already, it was already tight, already a dictatorship. i think you will see increased clamp downs in russia to prevent the people getting what it is they actually want. i think life will get more difficult to the russian people as a result of what happened this past weekend. neil: i wonder, secretary, we have the focus on. wrong guy. everyone is wondering where yevgeny prigozhin goes. this standing line you often hear, don't go anywhere near open windows. you could say the same thing with vladmir putin. should he sleep with one eye open? is this whole experience now exposing him to future mutinies, future potential coups? >> you know i suppose that's true, neil. if i were a you know writer i probably wouldn't insure the life of either of them other than a really big premium.

i think that is probably true but we should also in the west make sure we're focused on the things that matter to america. whether it is prigozhin, whether it the number two in russia, whether it is putin himself, the idea of greater russia is deeply embedded in the russian leadership. so the conflict in ukraine today probably doesn't turn on russian leadership. it probably turns on western resolve. i hope america, americans will understand that, we focus on these individuals. russia decided to take another nation in 2014 by force. it took 1/5 of ukraine. it stopped for four years while we were there. it went back at it just in february of 22. we should remember that russian leadership is focused on that. we can't afford to have vladmir putin control in kyiv or lithuania, latvia, or the baltic states. these were all goals of his. we have can't let that happen. second, there will be a nato some mitt in lithuania next week. ii hope they focus on security.

biden administration is giving a whole bunch of taxpayer dollars to a big humanitarian rebuild. the appropriate role for the united states secure ukraine sovereignty. the europeans need primary riff responsibility rebuilding that nation when it is all over. neil: secretary, like to ask you a political question to make you uncomfortable but you never are. i'm joking here. chris christie came out what was said amongst some of the republican presidential candidates rallying around whoever the nominee is, he said if it is donald trump he won't rally around donald trump. others expressed same. a ace that hutchinson boasting they don't want to make such promises. as a republican how do you feel about that. >> i can't imagine there being a worst candidate on the republican side than president biden. if you look at future of america, if you look taking care of minutes that matter, things confronting the chinese communist party, getting our schools right, great decision today from the supreme court, validating the ability of

individual liberty, not dividing people by race, color, creed, those things that a republican candidate will certainly who that candidate is be better than president biden, i hope every not just every republican but americans will see that, they will support the republican candidate in 2024 in november. neil: you were obviously very alert answering that question. so maybe next time i get you at a tired, weak moment. i'm kidding. mike pompeo. >> thanks, neil. happy fourth too. neil: to you as well, my friend and all your service to this country. mike pompeo, former secretary of state, much, much more, top of his class at west point. the genuine article right there. brian brenberg is genuine economic article what he follows with the gang in 15 minutes. what have you got, my friend? brian: president biden hitting the trifecta heading to new york city touting his policies as american people are stuck with his bill. plus honoring our heroes on the fourth.

that is at top of the hour. first more "coast to coast." ♪.

(jennifer) the reason why golo customers have such long term success is because we focus on real foods in the right balance so you get the results you want. when i tell people how easy it was for me to lose weight on golo, they don't believe me. they don't believe i can eat real food and lose this much weight. the release supplement makes losing weight easy. release sets you up for successful weight loss because it supports your blood sugar levels between meals so you aren't hungry or fatigued. after i started taking release, the weight just started falling off. since starting golo and taking release, i've gone from a size 12 to a 4. before golo, i was hungry all the time and constantly thinking about food. after taking release, that stopped.

with release, i didn't feel that hunger that comes with dieting. which made the golo plan really easy to stick to. since starting golo and release, i have dropped seven pant sizes and i've kept it off. golo is real, our customers are real, and our success stories are real. why not give it a try? ♪. neil: all right. the president is going to speak out on the supreme court decision that bans looking at

racial preferences in college admissions. so we'll got to that shortly but i do want to to go micio owe kaku talking about virgin galactic launching the first spaceflight. what do you think? >> i have one word for virgin galactic, congratulations. the champagne bottles are being uncorked. this is the first commercial mission of virgin galactic to the very edge of outer space, 50 miles straight up from the sands of new mexico. so one word, congratulations, you did it. neil: each rider spent upwards of $450,000 for the opportunity. i think it's little more than jeff bezos paying customers on his flights.

elon musk had far greater success with these missions but what do you think of some rich guys pursuing this? >> well that is the normal progression of transportation. when the railroads were first mass produced decades and decades ago, it was basically the military and the lumberyards that used shipping from railroads. then they entered phase two. the railroads entered the phase of rich millionaires subsidizing luxury liners on the railroads. now we're in phase three of the railroads where mom and dad can hop on a train and go anywhere around the country. so we're now in stage two of space tourism. stage one was when the united states was head-to-head with russia. stage two is now when billionaires seek the opportunity to go into outer space and eventually we'll hit stage three where mom and dad enjoy the virtues of flying

through the galaxy. neil: didn't hurt there were three italians on that. that is a first, michio. i didn't want to cut away the president speaking about the supreme court decision. president biden: affirmative actions of college ad missions i strongly, strongly disagree with the court's decision because affirmative action is so misunderstood, i want to be clear, make sure everybody is clear what the law has opinion and what it has not been until today. many people wrongly believe that affirmative action allows unqualified students, unqualified students to be admitted ahead of qualified students. this is not, this is not how college admissions work. rather colleges set out standards for admission and every student, every student has to meet those standards. then and only then after first meeting the qualifications required by the school including with other factors in addition to their grades such as race. the way it works in practice is

this, colleges first establish qualified pool of candidates based on meeting certain grade, test scores and other criteria. then and only then, then and only then it is from this pool of applicants all of whom have already met the school standards that the class is chosen after weighing a wide range of factors, among them being race. you know i have always believed that one of the greatest threats tired of heard me saying is diversity but i believe that. if you have any doubt about this look at the united states military. the finest fighting force in the history of the world has been a model of diversity but not only made our nation better, stronger but safer. i believe the same is true for our schools. i have always believed that the promise of america is big enough for everyone to succeed and that every generation of americans we have benefited by opening the doors of opportunity just a little bit wider to include

those who have been left behind. i believe our colleges are stronger when racially diverse. our nation is stronger because we use, we are tapping into the full range of talent in this nation. i also believe while talent, creativity, hard work are everywhere across this country not equal opportunity, it is not everywhere across this country. we cannot let this decision be the last word. we cannot let this decision be the last word. the court can render a decision can cannot change what america stands for. america is an idea, an idea, unique in the world, an idea of hope and opportunity and possibilities of giving everyone a fair shot, of leaving no one behind. we never fully lived up to it but we never walked away from it either. we will not walk away from it now. we should never allow the country to walk away from the dream upon which it was founded,

that opportunity is for everyone, not just a few. we need a new path forward, a path consistent with the law that protects diversity and expands opportunity. so today i wanted to offer some guidance to our nation's colleges as they review their admission systems after today's decision. guidance is consistent with today's decision. they should not abandon, let me say this again, they should not abandon their commitment to insure student bodies of diverse backgrounds an experience that reflect all of america. what i propose in consideration a new standard, where colleges take into account the the die adversity student over come selecting among qualified applicants. be clear under this new standard just as true under the earlier standard, students first have to be qualified applicants. they need gdp, test scores to meet the school's standards. once that test is met adversity should be inconcluded including

a student's lack of financial means because we know two few students of low income families whether in big cities or rural communities are getting opportunity to go to college. when a poor kid, when a poor kid, maybe first in the family to go to college gets the same grade and test scores as a wealthy kid, his whole family gone to most elite colleges in the country whose path has been a lot easier, well the kid who faced tougher challenges has demonstrated more grit, more determination, and that should be a factor, colleges should take into account in admissions. many still do. also means examining where a student grew up and went to high school. it means understanding, particular hardships that each individual student has faced in life, including racial discrimination that individuals faced in their own lives. court says quote, nothing in this opinion should be construed as prohibiting universities from

considering in applications discussion how race has affects his or her life but it, but be it through discrimination or inspiration or otherwise, end of quote. because the truth is we all know it, discrimination still exists in america. discrimination still exists in america. discrimination still exists in america. today's decision does not change that. it's simple fact. if a student has overcome, had to overcome adversity on their path to education college should recognize and value that. our nation's colleges, universities, should be engines of expanding opportunity through upward mobility but today too often that is not the case. statistics, one statistic, students from top 1% of family incomes in america are 77 times more likely to get into elite college than one from bottom 20% of family incomes.

77% greater opportunity. today, for too many schools the only people who benefit from the system are the wealthy and well-connected. the odds have been stacked against working people for much too long. we need a higher education system that works for everyone from apla chafe i can't to atlanta, to far beyond -- appalachia. we have can do better and we will. today i'm directing the department of education to analyze what practices help build more inclusive and diverse student bodies and what practices hold that back. practice like legacy admissions like other systems expand privilege instead of opportunity. colleges and universities should continue to commitment to support, retain and graduate the first student and classes. you know and companies, companies who are already realizing the value of diversity should not use this decision as an excuse to turn away from diversity either.

we can't go backwards. you know i know today's court decision is a severe disappointment to so many people including me but we cannot let the decision be permanent setback for the country. we need to keep an open door of opportunities. we need to remember that the diversity is our strength. we have to find a way forward. we need to remember the promise of america is big enough for everyone to succeed. you know that's at work of my administration and i'm always going to fight for that. i want to thank you all and i know you've been told i have helicopter out there waiting to do an interview in new york. i will be talking more about this during a live interview. thank you very much. we'll have plenty of time to talk about this but we're not going to let this break us. >> reporter: president biden, congressional black caucus that the supreme court questioned its own legitimacy. is this a rogue court? president biden: this is not a normal court. >> reporter: should there be term limits for justices, sir?

>> thank you. neil: that was not exactly productive a lot of people trying to get more details the president is planning here. not a fant of the supreme court decision, 6-34 decision, ruled against consideration of race as a factor in college ads. the president hinted number of executive actions or orders that would still make sure college institutions like harvard, unc, two big ones part of this supreme court decision would not lose sight of the fact that minority applicants have to be treated differently than those otherwise. he says that through no fault of their own at the bottom of the economic rung they're not given a fair shot and a fair chance. the supreme court weighed that. a heavy conservative decision said that did not come into our founder's thinking when looking at this issue. now the question then becomes how do you prove there or that institutions are following this? the devil is in the details.

obviously you want to police enrollments and acceptances so in the next school year much will be paid attention not only in harvard's case but university of north carolina, other ivy league cools and percentage of students they admit. whether that scale changes, whether it reflects the reality of the times and that, minority students are getting in based on the content and character of their grades and background and not the color of their skin that's one thing. the fear that the president has and other liberals have expressed including his former boss barack obama is this process will not be fair and that it will isolate minorities here too for hopeful fora equal shot. the president saying that is all what this is about. the no about favoring one group or race over another. simply a matter of fairness. that is in the eye of the beholder. might notice the supreme court took this up today. one more day to release a couple more pivotal decisions. most important, obviously one most talked about is that decision on the part of the

president to forgive upwards ever $400 billion worth of student loans among a number the supreme court, conservative majority rules against that saying it is unfair. that decision is due tomorrow. i leave you with the dow i had 252 points. it is more encouraged by the stress test that showed 23 of them are ready in case there's a meltdown and everything goes curve louis they can withstand that stress. that is what the test was about. it up all passed with flying colors. right now it is "the big money show". brian: big day, thanks very much, hello everyone. brian: i'm brian brenberg. jackie: i'm jackie deangelis. taylor: and i'm taylor riggs. welcome to "the big money show". brian: call it a victory for