if the bricks expand to 11 natnations and control the worls oil and so the clock is beginning to tick even louder. it's wonderful that taylor swift and beyonce, their concerts have generating billions in economic activity and some of the concert goers don't know how they're going to pay their rent next month or stuck living with their parents and the roman poet longing a from when we sold our vote to no man to people have abdicated our duties for the people that once upon a time handed out military command and high civil office and lee generals and restrains and anxiously hopes for two things, liz, bread and circuses. that's what we're living for. liz: i mortgaged my bedroom for the beejees concert.

charles: you could buy a house with that t-shirt right now if you sold it. liz: thank you, charles. one freaky friday on cal street and all the major indis ex-s dipped negative and spiked positive a couple of times a piece. for the moment, the dow jones industrial up 320 and yesterday we lost 373 for the blue chip and haven't erase that had loss and s and, up 40 and nasdaq gaining about 150 points and speaking of part of this freaky friday, this is just breaking in the last few minutes, hostess shares suddenly skyrocketing 26% oneiroiders report and baked goods company that listed publicly back in 2016 after restructuring is exploring an outright sale. the maker of twinkies and hostess cup cakes did nothing here down 1% compared to the nasdaq 29% spike. who might be interested and

source are telling roiters general mills, they own bete crocker and chips a-hoy and pepsi co and showing interest in hostess and watching them all move higher by more than 1%. get back to see saw market action --&started when jay powell started speak oturu trillion banker symposium in jackson hole, wisconsin, this morning and his first words hit the tape, that's where you see the dow erase its opening bell gains and dip into the red. powell called inflation too high and said the federal reserve intends to hold interest rates at a restrictive level till they're confident inflation moved "sustain blizzard warnings down to 2 -- sustain blizzard so

2%. it started around 10:00 a.m. eastern and stumbles into the red and thank hasbro for helping to keep s&p afloat in greener waters and toy maker right at top of s&p 500 and gaining 6.5% after stifel raised to a high of $94 a share and best in bank of america tuesday for $90 a share and hasbro gained eight full percentage points and nasdaq climbed back into positive territory after earlier dropping about # 87 pontos to the downsie and it's up 136. it is on pace to snap a three week losing streak. right now though it's not really getting any help at all from semiconductor stall worth and nvidia and down about 10 points and still up about 4% this week and look at marvel. and down three points or about 5.8% and on track for largest

percentage decrease last october. and last six months and shares are stumbling after the chip maker posted a fall in the second quarter revenue and inflation where customers for its enterprise and big business chips and reporting earlier in the week and bringing back to jay powell and today said inflation is still above acceptable levels and proving inflation numbers is not a trend yet. >> the process is not a long way to go and core inflation for june and july were welcome, but two months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustain blizzard warnings toward our goal. we can't yet know the extent to which the lower readings will continue or where underlying inflation will settle for settle. liz: next week bring a third

month of data or better and read on inflation and pce and core personal consumption and expenditure and the august labor and jobs report and get right to the floor show joining me now annex chief management and brian jacobson and gerald brian one thing for -- gerald brian and last year did when he was taking higher rates with it and pain and unfortunate cost and inflation and hearing about the future of future interest hikes and as to whether or not they should hike and not hawks or this and they're kind of afraid of what might happened and long and verbal legs are line -- variable legs are like and the biggest change of his tone are substituting the work and careful and forceful and talked about needing to hike forceful and vigilant and fighting inflation and now they can be careful and they've done quite a

bit and they believe here on the investment committee we've been talking about annex and they're likely on hold and likely for september and not the november meeting and we'll see what the data says next week and then it's the middle of september when we get next cpi number and it's a few months in a row of improvement in the core and getting two data points don't make for a trend. liz: november push you on this and november of the market is betting through fed funds futures of about a 48% chance that there will be a hike. not so much september. but november. it's moderating all over the place and it's 46% odds and get to keith and, keith, when you look at what fed chair jay powell said today and you never once mentioned the r word or recession. and what is that boding for the overall stock market because we know the economy is separate and

they are sort of in lock step sometimes. >> that is the key and why i think the markets are going ahead anyway because they've disregarded what chairman powell had to say and it wasn't the bad move. it wasn't the goll i did locks -- goldy lox move and i think he is chicken to raise rates at this point and it'll force him into a box and i like the fact that the markets rebounded and we've caught it big and moving forward and that's great for stocks. liz: not chicken and waiting to see. let's talk about stocks and first sectors, brian. what stands to actually flourish if we figure there may be at least one more rate hike at the end of the year. >> sure, if there's one more rate hike, i actually think it's going to be a tough environment in general. it would be favoring defensives over cyclicals because it would suggest that the fed is really too focused on strong growth and not focused enough on the long term trend towards slightly lower inflation and they feel

there has to be some visible pain, and i think that would just bode well for bid for say bonds and it's one of the reasons why we're keeping our strategic allocations kind of equally balanced in line with those strategies between stocks and bonds. you could think about utilities but even rebounds and the one we're having in the new home construction market. housing stocks have done quite well and if they do actually hike, we could be in -- that could hose a decent buying opportunity for the real estate investment trusts that are quite battered. liz: two year at 5.06% and we're continuing to see that, you know what, keith, he actually mentioned that the 2 year yield is up something like 250 basis points since last year. when they began hiking rates in march of 2022. but you're still an equities guy and you were piling into you'd

kansas city chiefs well before -- nvidia well before the big runup and where do you think nvidia is today and this week. it's pulling back today but boy, has it had a banger of a couple of weeks. >> isn't that great, again, this speaks to growth and it speaks to the big macro trends in the world and not just the feds myopic view of what's happening and i bought a few more shares before we came on air. liz: at this price? >> yeah, absolutely and my expectation is it's going to go higher and the fed will fade into the rear-view mirrors and looking at $7600 per share in the next 36 months and that's a nice chunk of change. i'll continue to buy at this level. it's move forward and it's a no brainer to me kevin if we get one or two more hikes, then we'll look at general mills, which you just mentioned prior to the break. those are kinds of companies that will give you the low stability that allows freedom to pursue the higher volatility stocks like nvidia. liz: that is interesting and look at hostess news, before today's spike on this roaders

report that perhaps it's looking to explore a sale and that's according to sources within the company, it's interesting that valuations in that case had come way down. not so far for the nvidias of the world and price of earnings rare know and before today -- rratio and hostess above 10 and the cassioppi we assigned to opportunities and markets pulled back it from their highs recently. >> one thing we really like is focusing on those companies that are at that intersex. of quality, valuation and trying to catch the trend. if there's a sleeper kind of companies, decent valuations and valuations having knowing that and having a nickel isn't going to get you a cup of coffee. valuations are more for where you want to be for the long term. we think the quality factors as far as return on invested capital, do the companies have

argute mote? those are key factors to look at as we're riding through this environment. to keith's point earlier, nvidia, in a way they're kind of cheaper than what they were before simply because they generated so much cash so, you know, l valuations, those are important factors to consider when you're looking for the long term positioning opportunities, and we're seeing more of those we believe in the small and mid cap space and don't want to rule out tech with the cash cows. liz: considering the nasdaq did 29% to the upside this year. i get the tech idea certainly. brian, keith, have a good weekend. thank you, both. >> thanks, liz. liz: jay powell may not have mentioned the word recession today but the lipstick index, you know about this; right, it's usually a reliable indicator it's at market phenomena by which lipstick sales rise by economic slow downs due to lower price points. does the same apply to mid priced jewelry?

straight ahead, the ceo of wildly popular jewelry boutique chain kendra scott on the state of the consumer, discretionary spending, inventory shrink retailers are shrieking about and tiktok sorety that has kendra -- sorority having kendra scott necklaces flying off the shelves. dow up 34,402 for the blue chips and closing bell about 49 minutes away. "claman countdown" is coming right back. ♪

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possible sale and shares of sentinel 1 spiking about 4% suddenly with a big spike in volume as well on a bloomburg report that cyber startup wiz is waying a potential bid for the cybersecurity stock and it's of course setal 1. ce -- sentinel 1. the largest cybersecurity unicorn just joined the claman countdown on february 28th, and i'll tell you something, this is a hot gain. this is a company, whiz, founded during the lockdowns and is now a unicorn. we'll be watching all of this. no word from the company we've reached scout watching shares of sentinel and let me check, up 3.8%. get to investors in nordstrom and suffering from a bit of buyer's remorse and dropping 7.5% after the premium retailer said during its second quarter earnings call yesterday, that losses from theft or shrink as they like to call it, are at

historical highs and impacting the company's bottom line. nordstrom also warning that consumer spending is becoming more cautious since the starlet of the second half and could impact the big holiday season. but oddly, that is not the case for one mid priced brand that sold at nordstrom stores. kendra scott, known for best selling alisa necklace and it's on pace to clock $500 million in sales this year. the company valued around $1 billion is also pivoting its supply chain away from china and into india and other international marketsment the texas-based jewelry maker has grown to 134+ stores across the u.s. and plans to open six more this year. bring in the ceo tom nolan and worked at ralph lauren and other companies and he's a retail veteran. tom, kendra scott can be found at nordstrom and nordstrom rack stores. what are you seeing with it

comes to sales as partner retailers like them? >> hey, liz, thanks for having me on. we are seeing success really across all of our channels this year it. has been great to be apart and the teamworked hard and we're delivering results. liz: it's interesting to see your brand is selling in order ststroms is not getting affected by this situation or maybe you are. are you seeing any kind of wobbling for the consumer? >> yeah, from a shrink perspective, it's an issue for anybody selling in retail and i think you saw it just at macys earnings call and dick's sporting guides goods and the industry is dealing with that to some regard and we've not been affected by it. we put the customer at the forefront of everything we do and it's paid some really great dividends over the years. liz: your price point is more affordable than many jewelry competitors out there even publicly traded companies from kay's jewelry to other names that might be considered similar

in a way but what is your read on the consumer right now overall, and you've been at this a long time. like i said, you worked at ralph lauren in their sportswear divisions and what are you seeing? >> you know, i think going into this year, it was the year with the cloudiest and couldn't see what was going to happen. i was hopeful as most people that do what i do for a living. they were hopeful that the consumer would be up there and stand up for the macroeconomic head winds the world is seeing. the consumer has been there. still savings rates are at historic highs and because of the way we approach business and how we connect with our customers on a 1: 1 basis and nil tope is at the fore -- fill tope is at the forefront and thr experiences and last year we did 22,000 events and all

philanthropist and give that to them and we're kind of meeting them where they are. liz: i'm told that you sell about 1eliza necklace per minute. this has become extraordinarily popular and a tiktok trend, especially with sororities, certainly south of the mason dickson line. i think alabama, texas, a lot of schools wear sorority students are rushing at this point and it's sort of like a thing to have an eliza necklace. you've been very creative with some of your other partnerships and did one with barbie with the launch of the barbie movie, the barbie necklace. do you plan to do more? >> yeah, we have an amazing marketing team and the barbie phenomena and a lot of brands have benefited from and we were at the forefront and tip of the spear and a lot of success there. we launched an eliza -- liz: did they approach you or you afroth them? >> we approached them when we saw the movie coming out and we have a great marketing team at

the forefront. mattel did a great job of partnering with some pretty remarkable brands and we were one and really thankful for it. our brand, you know, the e liza necklace and we sell that many and it's been amazing and our number one selling item for almost 20 years now. it is an affordable price point and high quality item and not just sorority women that like it, my 14-year-old daughter love it is and so does my mom. it kind of spans a full spectrum, which is great. liz: gold prices fallen 4% month to date but about 6% up year-to-date and you use a lot of gold in your products. how -- do you hedge? how do you make sure you get the best price on gold to keep customer prices at a fair point? >> yeah, the team's done a great job of hedging on raw materials for sure and there's a really nimble supply chain and before covid came in 2018, we really started diversifying that supply

chain to get ahead of some things we saw coming. liz: like what, away from china? >> yeah, it's a great place to make things from a duty and quality of labor perspective. some of the geopolitical and macroeconomic head winds out there, we felt like it would make sense to do that. for the nimbleness and speed to the customer, the customer is our boss. we to want get her product as quickly as we can and we started bringing stuff on shore and diversified to india and indonesia and mexico and u.s. to some extent. it's worked out really well. liz: it's guesting and you were at the -- interesting and you were at the forefront moving operations to india and thank you, tom for giving us the pulse of mid priced jewelry to the consumer. >> thank you, liz. liz: they've got a reversible barbie necklace. warner bros barbie has $1.3 billion in counting at the box office and entertainment

studio decided to keep the party going. starting september 22, imax theaters will show the movie for one week only but it will include brand new post-credit footage. we don't know what that is, but i'm sure my team will do some serious research and movie theaters. barbie success not enough to fend off the warner bro bears at this hour. warner bro discovery down to $12.29 and at the bottom of s&p 500. we'll tell you more about what's driving the declines for the company that, yeah, is behind the big barbie hit but still can't quite get the stock up. closing bell, we're 37 minutes away. dow is holding onto 313 points in gains and s&p up 41 and nasdaq up 162. i'm glad you guys are sticking with us till the closing well. ♪ behind the team. the coach. the manager. and the snack dad.

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and shareholderrings finding coauthored 10-1 and cemetery and they're outstanding and will allow amc to strengthen its balance sheet and it's for the time and 58-cent as share. the same world and warner bro discovery falling and top markers on the news for studio and delayed and and now they're going down after strikes are starting a hamstring and and for warner bros part of action dune and enriched for november an march of next year with the lord

of the rings sequels. i get sad when g godzilla and towards the best year and more than 30% after issuing better than expected grandparents fourth quarter earnings along with some strong guidance for the coming first quarter and attributes to the positive action on the app. deals with the march and they got a brand new merchants signaling the demand for credit options and still very strong. a firm right now topping out at $17.95. hawaiian electric and the

lawsuit and large swaths of the island and at least 115 people and company also announced it was suspending it is dividend and on ward and the strength of cash. dealing with the fair share of controversy and anheuser-bush and and the year-to-date and noticeably dropped and following what happened in may after critics slammed the company for a partnership. dylan mulvaney and madison alworth and capitalize on the football season. >> year kicking off another year of nfl sponsorship and game day traditions like sports bars and sunday dinner and tailgating and family. wall street was hoping it could put the company on the right track and some of their

disgruntled customers. >> when all is said and done and both sides are here and the story about study of knowing your clients and catering to your clients. >> as you mentioned, the brand has been battered since their controversial spring partnership dylan mulvaney and bud light is de-throwned as number one selling beer by modelo and the revenue declining over 10% since the market cap and down $16 billion and the company has laid often hundreds of employees and company also selling off several of its brands and earlier this month and they'll buy outer hair of their beer and beverage and that tranq transaction under review and expected to close by the end of the year.

giving the beer maker a boost and took back the customers and speaking of customers, consumers, they were making reaction known to this commercial on youtube and i was crawling through the comments and one person pointed out that no one in the commercial actually takes a sip of the beer. there's unlimited cans in the commercial and cracking it open now and people aren't drinking the beer and customers too but that's what they were hoping for and only with this partnership and the start of football season and most important time of year. liz: there used to be a rule but couldn't show somebody drinking alcohol but, listen, they wouldn't be the first great american company that stumbled and then somehow launched a comeback because we got to watch for it. thank you, madison. it's the summer of strikes and not just talking about the actors and writers. members of the united auto workers voting today in favor of

striking at the big three de-treat auto -- detroit auto makers and analyst that covers all three. s in next. closing bell, 26 minutes away and up 30 points on this friday. volatility falling, no fear for a market's economy. ♪ liz: okay, the freaky friday

headlines continue. we're just getting in, grocery delivery company instacart officially filed paperwork today to go public on the nasdaq. the stock is going to trade under ticker kimball cart in ths revenue hit $716 million in the last quarter and now let's just remind you. this is a highly anticipated ipo and comes at a time when the ipo market has been particularly slow all though with arm, the chip marker that soft bank is taking public, that's kind of

jazzing things up. we've covered kava as well and we'll be watching this closely. it has been a summer of strikes and the united auto workers union could be next in line to walk out. just a few hoursing a, uaw announced 97% of its members voted in favor of a strike if current negotiations don't pan out. uaw president said the potential strike targets the big three, ford, gm, stellantis and the union demanding a wage increase of 46%, restoration of traditional pensions, they want cost of living increases, a reduction in the workweek to 32 hours, and increased retiree benefits. auto makers have till end of business day september 14th to come to a deal before a strike could take place. how likely is this and what does it mean for auto makers getting over comply chain dislocations and production log jams and bring in a guy that's covered these three names for 40 years.

benchmark senior analyst michael ward covering gm and ford and has a buy rating for both, a $60 target for ford and $20 for gm. covered many a pending strike. think this will come to true wigs? >> i hope not. i've covered a about does on of these things and they're always fun. but they get done. it's a little bit different this time because we're in a highly inflationary environment. some of the environments or demands that it they're asking for is extreme. it will get done. i think the uaw workers can certainly expect a sizable increase in wages over the next four years. liz: can you clarify something, they want a 32 hour workweek. is that down from what? i'm not sure so i'd like to know. >> wouldn't that be ironic. the auto industry and uaw workers are in part what created the middle class of the united states so now they want a shift

to more of a european environment where you work 32 hours and get paid for 40. that doesn't make much sense so i can't see that happening. some of their other demands, i think the uaw historically has been very effective in setting a pattern for years followed. they historically had a defined benefit plan on the pension side and switched to defined contribution and that'll stick i think. however, i think they can expect at least a 10% wage increase, but i think it's always important to put some of these things in perspective. you know, back in the 80s, wage cost of general motors for hourly employees in the u.s. were about $15 billion a year and now about 5 billion and 100 billion revenue base and probably not going to 6% and certainly not going to 4%. yes, costs are going up but it should not be crippling and the market still remembers the old legacy industry when they had

these blue chip type medical plants and defined benefit, wage was much higher, 15, 20% of revenue rather than 5% today. liz: last uaw strike only hit general motors. what was the impact on the stock? i believe it was back in 2019 and what kind of impact on any of these three names and their shares if this does come to pass? >> well, typically they pick a target and last time it was ford. ford hasn't had a strike in two or three decades. general motors made a mistake in the way they talked about closing one of their plants and in part that was a pay back to strike them for a couple of weeks. stocks do not do well. look at last five union negotiations in the august before the september contract date, the stocks have underperformed. they've underperformed again this august. no clear reason to buy the stocks prior to getting them settled. when they do settle, the stocks recover what they've lost typically.

people get to put it in perspective on what it means for earnings and what it means for cost and unions negotiate and some don't and somebody gets her a week and settle general motors and maybe they get hit for a couple weeks with expectation. liz: x, the possibility of a strike. you like ford and general motors here and ford is outperformed year-to-date. general motors has not. so you got to tell me what's going on between the two. what is ford doing right that gm needs to come back along to because gm put out pretty interesting vehicles as well. >> ford has a 5% yield and gm

has come down relative to ford in the last few weeks. they move in tandem and stocks, the reasonable i'm bullish and the 40 years i followed the stock, this is the best the command drivers looked in that 40 year time period over the next five years and not just in the united states but also in europe. in addition balance sheets in great shape and cost in great shape and look at basic. you take a look at product trend in the marketplace and whether it's cards and they're going be among the leaders and they're in great shape and the is to bees as good as they get as far as opportunity to buy them. liz: well, nobody wants a strike. i mean, it's never good certainly for the people, for the workers and companies so we'll watch it. michael thanks. thank you very much. >> any time. and for the economy, liz, it's a big impact on the overall economy.

liz: there's a lot of unintended consequences from strikes, people should know that. elon musk facing a conflict of his own, but it's not the unions. he's not a union shot but it's the u.s. government and there's a live report next. not only on the string of moves against the musk companies and doj lawsuit that broke yesterday against spacex could hinder a potential ipo in spacex's star link arm. closing bell 14 minutes away. we are coming right back on this friday. ♪

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liz: we told you about instacart ipo falling and chattering and spacex satellite and provides internet service to millions around the world and is that possible spinoff now in pearl after the justice department -- peril after the justice department skew arkansas sued the satellite and rocket companies claiming they december couraged refugees and asylum seekers for applying for a job. kelly o'grady is live from los angeles looking into this. kelly, how could this new investigation impact the company's plans to ipo star link

this year? >> liz, it's going to depend on how big of a focus this lawsuit draws and you go public and you want to minimize hiccups that could raise uncertainties and impact ipo price and spacex started turning a profit and star link has been very active making deals with airlines, racking up their subscribers and wall street's interest is peaked in a potential star link ipo. if the elon musk company get into a tough legal bat and will that interest could cool and it could come down to how big of a fight we're looking at. i spoke to kyle wool, he's the ceo of a securities company and he was on your show earlier talking about a potential star link ipo and in his opinion, most companies settle and spacex could follow suit. however, it's a big unicorn name and both elon musk and the company have a lot of resources so it's not out of the question they could fight this suit. i will note the doj has come at the likes of facebook, smaller tech companies with similar suits and they've all settled,

but we've seen elon musk is not afraid of a legal bat and will he's been sharing his thoughts liberally on x today saying the suit is ridiculous and specifically pushing back on the doj's discrimination claim because spacex is a rocket maker and he said "the fundamental principals of the itar law is u.s. companies with advanced weapons technologies with rockets with inter-cot mental range and must hire permanent residents so the information dun fall into the hands of those who wish us harm". they saying that doesn't apply because refugees have the same legal status at residents and that is setting up a fight and potential i impact that ipo. we'll see how this plays out. liz: again, spacex said nothing about an ipo and chatter that may be by 2024, 2025 star link must be spun off and could raise a lot of cash and we shall see.

we'll be watching, kelly, thank you. closing well is ringing in six minutes. it is a fri-yay for the bulls and they're all seeing highs of the earlier high of 328 and s&p up 25 and nasdaq up 112. all right, here we go on this friday and spacex and all these other companies and count downloader said there's ample investing opportunities for ev and space the co-ceo and senior port fuel owe manager at -- portfolio manager at essex. nice to see you. >> yeah, can you repeat the question. liz: yeah, it's interesting to see what ample investment opportunities are there that you believe will stem from electrify

indication. >> absolutely. so we are very, very bullish on the theme of electrify indication. we all know the energy transformation we're going through and we understand that it's going to require a lot more energy whether it is data centers, growth of generative ai and whether it's electric vehicles and whether it's electrify indication of the power grid for ample transmission and transmission and distribution for their power. that's all going to require a lot of semiconductors, a lot of equipment, a lot of enclosures to drive that electrify indication. it's being driven by company demand as well as by government spending and two tale winds behind us. liz: well, look at some names that you feel have a opportunity, digi, talk about that one specifically because it's not a name that is familiar to a lot of our viewers perhaps. it's a small cap. you like the small and mid caps. >> i do like the small and mid caps here in general.

very much so and much less expensive than a large cap index and less well known and less well understood and followed and digi is a company that plays in the communication of devices and used to help that sheens and systems communicate with other systems. they've been -- not struggling but sales growth has been dampened a bit recently because of a lack of semiconductors going into their equipment and they're now seeing that easing so they're able to grow very nicely and the stock got a little ahead of itself at 41 before they reported their june-quarter but the quarter was clean and beat and raise and the stock is $31 and extraordinary atrackive time to get into the stock -- attractive time to get into the stock and mid double multiple. liz: you like the small and mid caps. august has not been kind to the russell 2,000 and i believe it's down to about 8% for the month. you know, it hasn't really done

as well as some of the other major indexes year-to-date and why do you feel this is a opportunity to get into names that are around a billion dollar market cap like digi. >> the index and benchmark has done poorly and not been as much investor attention focused on the smaller cap names as everybody has been excited about the large cap names as they've perceived to be safer in a world of rapidly rising interest for potential slow down and what we're seeing today is resilient and the fed is pausing and that combination is pause for moderate inflation and economic growth and greatliest mated by sectors -- grea greatly estimatd with the pause and took a pause in august and we think that that could come as we come through september and see the september

earnings growth. liz: just a couple of minutes left to trade with the two year yield and 3.2% and 2-year yield at 5.07%. some really interesting behavior with these bond yields and talk about jim powell and all that may come and next week and getting construction numbers and friday is the august jobs report. the pause for september and november and what do you think? >> great surprises of the pce going up dramatically and could have the fed act in a way that they've not signaled yet. chair powell signaled this morning wait and see what impact

the rate increases we've already had are taking and we expect a pause and we don't think that the data will be any different than that and we'll see continued strength in employment and continue to moderation in pce and probably not much change on the construction versus what we've been seeing. liz: nancy, thanks. like to have you on. nancy. we're looking at a closing well about ten seconds away and the bulls came out in full force for this friday and they did not erase yesterday's losses for the dow which had fallen 373 points and the dow right now up 246 and we've got s&p up 27. market this is week, the dow will not close to the upside for the week and s&p and nasdaq in the green and see you monday. larra david hello, folks and welcome to a special edition of kudlow