you want to have fun and swagger and freedom that really only money can bring. so with that in mind, it's not retail therapy, it's retail hemlock. you are pouring out champagne in the clubs and flushing away your dream vacation home. maxesout credit cards means you'll never ever, ever have the life you want. up the choices and pace yourself and simply pace yourself. individually a lot of people will regret it and won't regret the next hour on fox business and we have a have special guest for liz claman host kelly o'grady. kelly: always wise words from charles payne and hope you have a lovely holiday weekend. folks, i'm kelly o'grady and in

for liz claman and begin in final hour of trading with the markets and the bulls stumble into a long holiday weekend the dow defying the odds and kicking off a historically weak month for gains and index on pace for a fifth up day in the last six sessions. now the s&p flirting with that unchanged line slightly positive right now after dipping into the red and nasdaq risks the five day win streak and if it it can somehow have the winning streak for june 15th and see that today. the market action propelled by questions of whether or not the fed holds rates steady after the august jump report shows an up tick in unemployment rate there and joining me now from the white house lawn with more details is edward lawrence. edward, break it down for us. >> yeah, kelly, as you said, expectations were beat with this

jobs report and the unemployment raise rises and gives president joe biden a talking point and also the fed reserve room to pause if they want to. if you peel back the onion in this jobs report, we find average hourly wages are up 4.3% year over year. the federal reserve chairman said this year that numbers like that. listen. >> same time, inflation continues to fall. it's now around 3%. about one-third of what it was one yearing a. inflation was close to what it was before the pandemic.

>> up 6% and food and grocery stores up 20% since january of 2021 and people see this when they buy anything with some market watchers see enough weakness in the report if they remain concerned about the next year. >> it'll show a weakening in the economy of the 2024 presidential psychoand will this economy will be a disaster by next spring or early next fall if it continues and it's not positive for the democrats or for president bi biden. reporter: but the labor force participation rate moving up ever so slightly as more people are actually coming from not in the labor force to unemployed. back to you, kelly. can i recollects we're going tor into the economic data in just a moment but first, i want to get to some of the biggest movers of

the day. dell soaring over 20% and hitting a record high after crushes its second quarter report and raising its full year forecast. the tech company beat the street expectation with a boost from artificial intelligence demand seeing ai is a long term tail wind with strong sales across the board. on the other hand investors not pleased with broad come. sharesdroping more than 5% after the semiconductor company reported third quarter earnings in line with estimates, but gave a disappointing outlook for the current quarter. now the com and meanwhile l luln reporting high demands for the wildly popular fanny pack. the everywhere belt bag, which helped drive accessories growth

up 44%. revenue climbed 61% and disney with charter communications hurting investor sentiment in the streaming space and see all red on the screen and disney, warner bro's discovery, paramount global and fox all sinking in the red and spectrum customers lost espn and abc when disney pulled the disable tv brands off charter spectrum services and the channels went dark. that's not good news for monday night football when it starts and markets and economic picture is back at this hour and investors try to dissect this wealth of economic data we got this week. the august jobs report as edward said showing unemployment rate rose more than americans found jobs while the feds performed inflation measure. they stayed in line with expectations and we're minutes away from that long holiday

weekend. let's get right to the floor show. we have dan geltrude and dan ives. we had a beat on expectations in the jobs report and we had unemployment rate elevated so it's what the fed wants to see. but you have that pce data coming in a little bit hotter than expected so what's your read on the jobs report this morning? >> the key in what everyone is looking at ask what's going to happen with the fed and interest rates and one side of the coin is saying, well, we got pretty positive information related to the j jobs as well as unemploymt did tick up and it's a real good number. however when you're looking at where we are with inflation, you can't just look at that and go

year over year and we're 3% over the previous year, we're up 12% and that is what people are doing and don't really know i'm in the camp that says we may still have to continue to raise rates because inflation is not receding the way it needs to be. kelly: well, i love your passion, dan, and you're in right to put it in perspective of where we're at. keith, i want to get your thoughts and we saw that cooling in the jobs report especially with the fact that we had that revision 110,000 from june and july, definitely what the fed wanted to see, your thoughts and predictions, do we get another rate hike before the end of the year. >> impact two of the things and the fed lost the plot a long

timing a and they're math is more cooked than the christmas goose. starting from that vantage point, they'll be foolish and continue to raise rates even though they're clobbering the american public and eviscerating savings. kelly: yeah, you know, dan, i want to piggy back on that and talking that the fed does need to raise rates at some point so what's -- talk about what that could do to the markets because higher interest rates are going to be more pressure on those regional banks and i've been looking at balance sheet seeing that deposits are costing more and not getting enough in from the loan side and of course that would do terrible things for the commercial real estate market and what happens if we do get another rate hike from the fed for the markets? do you think you're going to see, we see red on the screen, more of that if the fed were to hike? >> yeah, we're going to see that and we're going to see a couple industries probably take it on

the chin pretty badly and includes banking that you're eluding to number one and realize market and see what's happening with -- real estate market and we see what's happening with the hates and doing to the housing market and ability to move property. it's a terrible thing. it goes bactine fellation remaining stubborn and have to attack that problem. rates go up and markets feel the pain, especially when you look at where bond rates are and where money markets are. those rates are pretty high and they're also secure. so i think people are going to take money off the table. kelly: yeah, i think you're right to mention the bond markets and definitely certainly more attractive to go to secure investments with the volatility we could be seeing in the market and i want to get to specific stock place and, keith, we've had movement with tesla today but you're hot on a couple of

battery place, tell me which. >> i'm going to stick with tesla above all and evs are not going to go away and they're in eventuality and what do you make in the interim and going to need dinosaur juice and battery markets are warming up and they're coming on shore and those are companies that could do very well. i'm keen to look into the tech space because if you really want to beat inflation, those are the companies that are going to do it. >> you also have interesting news from aws, amazon, they're going after small and medium businesses with their offering ands what do you think this spells for ai? just a big tech play or are we going to see this impact everything out there in terms of business? >> my goodness. everything ought to be in all capitol letters and there's not a business on the planet that will not use or interact with ai within the next 5-10 years in

some form. those that do not will not be in business five or ten years from now. it's not a temporary or transitory and it's a real deal and building in our lifetime and i remained stun and so many can't see this developing and right in front of our faces. kelly: well said. well said. we often wonder, oh, is nvidia going to really keep those gains but when you put it in the those terms, it really makes sense that we are going to see this revolutionize every industry and more with us. >> thank you, kelly. kelly: bitcoin giving off all the gains it saw and victory in court against the sec and it's down more than 10% in the last month. iis bitcoin a bargain or more downside risk in the future? up next, ceo of largest bitcoin

atm operator joins me to discuss his outlook on the space and the benefits of converting cash into crypto. the closing bell rings in just about 49 minutes. will the nasdaq snap the win streak? anything can happen in the final hour of trade. stay here with the claman countdown is coming right back. ♪

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making the process a whole lot easier and now more accessible. the nasdaq listed company announced it expanded the be checkout program to 400 locations in iowa and louisiana. the mobile app lets users by bitcoin and retail pieces of cash and founder and ceo a joining me in a fox business exclusive so good to have you with me on this ride into the labor day weekend. i want to start with this new program so can you tell me a bit more about the details of it, brandon? >> absolutely. our checkout allows users to download our app, place an order for bitcoin and even as little as $20 and scan the bar code at major retailers at checkout counter and handover cash and get bitcoin immediately.

>> this product is a product that we've partnered on with large payment processer called in common and it's a matter of getting additional retailers within their network to sign onto the product and we've been able to partner with the major convenient store brands such as pilot travel centers, quick trick and kum and go and there's a lot of locations in the states and they're all very excited to give access to the customers to bitcoin. kelly: bitcoin closed yesterday under 21,000 and once it hits that must remember, that means we're going down, down, down. what's your perspective for the rest of the year. are we going to see something more along the lines of what we enjoy during the summer months, july, august, you know, with

those higher prices or could we >> well, i think right now with the lack of trading volume in the market for crypto currencies, investors seem to be very focused on what's happening with these spot bitcoin etfs at the moment, and the market seems to be fluctuating the past couple weeks almost solely based on that. now that the sec delayed their decision to approve a spot etf. over the next couple months we'll see a bit more of the same and investors are sitting and waiting for anything news to come out of the sec before determining to make big b bets kelly: the sec is delaying the decisions on that, not out of character but they like to take their full 240 days when they're

evaluating things normally but what would more broadly a bitcoin etf mean to the market? you know, we have a lot of folks that are curious, crypto curious if you l. haven't necessarily gotten in so what would having something like a bitcoin etf approved do for that? >> it's been tough to have a safe place and cryptocurrency collapsing and going bankrupt and it really provides a safe place for not only retail traders but also institutional investors to place large amounts of capital and it's really going to drive adoption. it's really going to drive investors getting into the space and it's also very positive for my company as well.

anything that drives adoption ultimately helps increase the awareness of bitcoin and therefore bitcoin atms. >> certainly. when we think about more widespread adoption, of course we always come to talking about regulation and so much focus in congress with everything that happened with ftx and some of the other exchanges. what do you want to see out of potential regulation from washington? >> i think one way to do it is have a spot etf and have more monitoring of the places where people are holding value in this crypto market but in terms of other areas of the industry, including the segment that we're in, the bitcoin stm industry, we really just want to see that all the players are regulated and

they're held to higher standards with aml compliants in the transaction monitoring and preventing food stamps frauds and scams as -- frauds and scams as much as possible. kelly: yeah, the sbf trial coming up and any sort of movement in the market we'll see from all of that focus being on such a allegedly fraudulent use of cryptocurrency use that you expect? >> in my own personal opinion, seems like ftx news has gone a little stale and i think investors and movement in the market seems to be more focused on what's to come in the future. especially considering next year a very important event is happening in the bitcoin world. the bitcoin having a supply shock and all the sudden the amount of bitcoin coming into the market is reduced and that's

going to be something that people are focused on over the next few months and understanding that there'll be less bitcoin in the future. kelly: that's a great point to bring up and something we're keeping our eye on. thank you for joining and yous good luck with the new program. >> thank you so much, kelly, for having me on. kelly: later this hour, charlie gasparino joining me with more details on the sec's delayed decision on the spot conditions we talked about and investors torn on crypto today and they seem pretty sure about one thing with electric vehicles and fires are going pedal to the metal and china's ev makers in particular and they have record breaking results. plus, wall greens is deeply in the red at this hour sinking to the very bottom of the dow jones

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red and it's off of session lows but we are certainly hoping for that to turn green within the next half hour or so, but i want to get to movers here and walgreens sinking to its lowest level since march of 2009 after the drugstore chain announced that its ceo is stepping down. brewer had been in that role for just two and a half years and the announcement comes after wba had its worst monthly decline in about five years. board member ginger gram will step in as board member ceo and china announced measures to support the process market and report thaed that the manufactus sector is expanding copper minor's tint getting a boost on the news and chinese ev manufacturers are also revving up after reporting delivery numbers that when you combine it all set an all time record for

any month. lee auto and deliveries down 9% and from july they're up 81% versus a yearing a and both knee owe and they've lawned new models on the forecast of the strong second half sales there and of course we've got labor day weekend coming from the road to the skies and people are heading out to travel for the holiday weekend and i'm about to head out right after this and the transportation security administration expecting an 11% increase in passengers and they've got 75 cancellations and 2008 -- 5,157 delays in the u.s.. jeff flock is at chicago o'hare international airport and, jeff, always is the person to go to when it cops to the airline virgin islands i want to ask you this, just this week, american

airlines flight attendants voted to authorize a strike and how is the situation at o'hare bracing for it to get worse, jeff? system of articulation reporter: that's a great question, kelly. yeah, i think one of the thins that will help this labor day weekend is it's going to be a nice, beautiful weather time, which is always a good thing when it comes to air travel. but i tell you if you go inside the airport, maybe you'll see, you know, they've got lines but at this point, not as bad as things could be. you remember last summer. it was a disaster last summer. all sorts of flights delayed and canceled and this time not so bad. this is going to be one of the hot spots and take a look at busiest airports around the country and this weekend los angeles, denver, dallas/fort worth and o'hare. that came out of transportation secretary and delays are down. last summer 2.6% of flights were cancanceled and it's cut in halo

1.3% and the delays well, there's a lot of delays out there, they're apparently coming largely from what we would expect, which is the weather and not from a shortage of air traffic controllers and that's again what the transportation secretary has said. on the negative side, he did admit there's a problem right now with what they call near misses or close calls is another word for it. they are up 25% and, you know, that's not a good thing. the secretary buttigieg buttigieg talking to reporters today at o'hare. >> most of the rough days that we did see this year had to do with storms that affected hubs which then had cascading effects. when we look at delays attributed to the national aviation system, which does not include things that are under airline's control. what we see is that about 2.6%

of delay minutes had to do with air traffic control staffing issues. reporter: so, i guess that's a piece of good news. another piece of good news and i leave you with this one. that is when it comes to air fares, we're paying less that labor day holiday than a yearing a. the average ticket, $226 and that's round trip. that's down about 11%. kelly: many taylor swift fans are traveling out of state so

see her and now it's coming to theaters and fans are buying tickets in droves and up next we'll talk to ceo of fourth largest movie chain and how his chain is drumming up demand. the closing bell is ringing in less than 27 minutes and oil, hitting new 2023 high, folks. see there $85.88 and up more than 2% today and that's not good news for gas price and we'll keep on eye on that. ♪ [ applause ] >> the day you get your clearchoice dental implants makes every day a confident day... a never-hide-my-smile day... a life-of-the-party day... a take-on-the-world day...

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that amassed $16.9 million in presale. on top of impressive ticket sales, taylor swift's concert movie is scaring off potential competition at box office and the movie is society to release on october 13th, which was the day that the exorcist believer movie was supposed to be release thed. the director tweeted look what you made me do. #taylor wins an and joins us ina fox business exclusive and fourth largest movie theater company in the u.s.. greg, thanks for joining us today. when i heard that news that the exorcist was moving their release date, i was thinking to myself, i didn't think there was a lot of overlap between tay tay fans and exorcist fans but i suppose there is. what are you seeing in some of the presale numbers for the

taylor tickets? >> oh, they're flying off the shelf. it's been fantastic. our smaller markets are selling out immediately and bigger markets are taking a bit of time but very ro robust ticket salesd the interesting thing we're seeing and our circuit is set up for this and a high proportion of premium large format screens and that's your called super screen, alto screen and high footage screens, 50, 70-foot screens and 75% of ticket sales on the premium large format screens and when you have the availability of those screens and all of the complexes so it's been great and i was ready for #swiftorcist. i was totally wrong. kelly: #swiftorcist. we have to make that a thing. maybe that's the new

barbenheimer. greg, i love this you need to make it happen. i love that you brought up the 75% or more forker formats and folks that can't afford to see the eras tour in person, that gives the feeling like you're this. i want to zoom out and we had barben heimer and it was a huge success -- barbenheimer and it was a huge success and what we expected to be blockbuster and marvel movies and i start wondering that we have this direct to consumer mindset and i can see it on streaming and the studios in some ways have coached us to expect to make it more attractive and it's on disney plus or hbo max and are you worried we may never get back to the height of i must see it in theaters. >> no, i'm not actually. it's a very valid point but, you

know, you looked at what just happened with barben heimer and fourth biggest weekend of the release and super mario brothers and avatar a few weeks before that . the customer is there. we have to provide the product to them and people want to get together and the problem we have, which you eluded to is the stuff that's disappointed and people don't know what's going to work. we just -- there's an old saying in the business, everything is rnd except the sequel. kelly: i like that . that's a great line. i want to go back and you were on the show with us in april and at that point, you had 84 locations, now you're down to 82. can you share what's behind that shift? >> yeah, we -- we own most all of our real estate and we're always trying to optimize our

portfolio and it's just time, they've made the head work of obsolescence and other theaters in the market and capturing the demand and those things change and we'll group and down overtime kelly: sure. and i would be remiss if i didn't mention where i am in los angeles and the writer and actor strike in hollywood. we just saw warner bros discovery push back the release overdone part 2. we've seen a couple of others notably that have >> of course, it's a little concerning and we're a business of momentum and you go to the movies and go to the movies and watch the trailer and see something you want to see next. when we interrupt that momentum,

we have to re-pad the pulmoand we'll always be able to do it if we have to. it's just not optimal but let me talk about for just one minute what this isn't and think about what did we go through with the pandemic and this isn't. people saying i'm going to not leave my house. and this isn't the studio and i want to move to streaming and play the same day and streaming service is in theaters. k it's important to draw that comparison and a lot of februaries looking at this going oh goodness and is that bringing the point up and i'm glad you're making swiftorcist happen. thank you for your time. >> thank you, kelly. have a great weekend. kelly: you too. still ahead, folks, is there more to sec's decision on spot

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kelly: well, gray scale handed a big win on tuesday when a u.s. court said it was wrong for the sec to reject its proposed spot bitcoin etf without reason. but it is not all clear yet for the many applicants of a spot bitcoin etf and it could hinge on sec's possible appeal of that decision. joining me now with all the details is charlie gasparino. i mean, charlie, i'm so excited to talk to you about this because you have your finger on the pulse of what's going on with all of this with the sec and break it down for us. >> i have my pinky on the pulse and my producer ellie usually has her finger on the pulse and we get our hands on the line and what we do know and extensively

with the, sec and blackrock is not any company and $9.2 trillion under management and blackrock itself is very close and blackrock is looking to do and it was a spot etf and proposed it and shot it off and they sued and now it's the sec and they don't appeal this and the people don't have blackrock and couple managers and they're looking to do spotty etfs and

they'll see a mainstreaming of bitcoin and crypto and on the sec if they appeal the gray scale and what was the gray scale ruling and wanted to do a spot etf and proposed the etf and blackrock and others are doing and first one out of the box and the sec denies it and gray scale sues and says you're not playing fair because you've already allowed a futures bitcoin etf out there and not a spot bitcoin etf. you're not playing fair and the courts agreed with them and now the question becomes does the sec appeal to be known the writing is on the wall and we'll have what the courts want or allow this and blackrock things it's a good chance gary begins r will allow this to go through.

fascinating story and for a viewer, that's confusing and allowing the futures one and not spot one. futures are products that go to sophisticated investigation torrs and mainstream an etf to buy through your broker, on your phone, robinhood account and it's what a spot etf would be and spot piece of bitcoin and not the futures price and anybody can buy and worried whether people get into crypto and they believe it's a risky business and they've got the courts and they're ruling against the sec as it tries to regulate through enforcement and various measures. kelly: right. >> this is a bit complicated and if we were going to boil it down, i would say this. if you see the seca peel this, black stone o's etf and probably won't come with this administration and gary gensler sec and gary has been -- gensler has been very focused on -- he's been an

anti-crypto chairman. if they don't appeal t it's a sign that maybe he's lightening up and he understands that it's hard for him to carry out his agenda because these companies are going to go through the courts and sue over it. it's very fascinating and watch the appellate process on gray scale. i can tell you that the people at blackrock are doing that as well. back to you, kelly. kelly: yeah, definitely. it's a really interesting way to frame it out and you are seeing more and more enforcement action of these different! al bodies and -- governmental bodies and something like a spot etf could make it easier to monitor and easier to get it in. >> that's exactly what the argument is. i'm glad you brought that up. that's a great point. that is exactly the argument that all these -- that blackrock is turning up. if we do a spot etf and traded

on new york stock exchange and nasdaq trading on the nasdaq and that's where they prefer to trade t you'll have clearing and custodial and everything done in the u.s. and exchanges that are completely regulated and monitored and you don't have to go to sam bankman-fried. that's what they've said. that's exactly what they've said. if the sec turns around and says we don't like crypto, and if you have a spot etf, it's mainstream. but futures are for samiest indicated net worth and take retail out and if i want my bitcoin, it's almost like stopping and hate to compare to marijuana use and -- kelly: i'm going to pause you there. might as well legalize it because you're going to do it anyways. kelly: wise words from charlie gasparino. >> who does not smoke pot. for the record, i do not smoke

pot. kelly: okay, we have it on the record. charlie, thank you. the closing bell rings in just about four minutes and major averages looking to close out a winning week here. the dow up more than 1% and s&p 500 up 2.5% and nasdaq up 3% and again the nasdaq may get six days of wind in a row and a wrist of net works getting a boost of nearly 9% and the software buying on the neutral benefits from what else, artificial intelligence boom and our count down closer is also hot on the stock. so joining me now is the entrepreneur shares chief operating officer and chief investment strategist eva adose. thank you for being here and we had the ceo on the program exactly a monthing a off banner earning and she was telling me there was a lot of growth

potentially in the enterprise partnerships with meta and why are you hot on arista? >> it's an alternative way to invest in ai. this is a company that provides company network switches to ease up and speed up communications so with the booming ai, it's driving heavy network traffic and the community benefits and that stock and fundamentals looks great and it's a company with a gross margin of 50% compared to 12% for the spears in the last five years and it's both the profits and its revenues double and this is a great company going forward and this is a great alternative n and direct way to invest in ai. kelly: the margin point is huge to bring up and that comparison shows you why the stock is doing so well. nvidia is another one that you're hot on. i'm looking at it though. the pe ratio around 117, do you think it's overvalued right now

or are you saying yeah, no, this has room to go. go? >> we've been heavy on nvidia for years since 2005 and in the last year -- ten years, this company has gone from $5 to about $500. that's 10 eggs -- sorry 100 eggs. this is a crazy company by far the ai leader for the year and we could say the ai leader for the last ten years, but to your point, i think that it's reaching a lot of valuation and that being said, it's still continuing to surprise us and it's unprecedent that had a company that has reached about $1 trillion in valuation is seeing both it is ev margin and its gross margin increase almost double in the last one year so that's amazing for a company and i think this ai story when itcosms to nvidia is still warming up. kelly: real kick and i've got about 10 second, eva.

a lot of economic data this week and do we lose or feds hike before the end of the year or stay? >> i think the biggest catalyst will be the next one in november and that's when we believe the fed will signal that they're job with the rate might bees is almost complete and we're expecting a year end rally. kelly: yeah, i think we can all hope for that. thank you so much, eva. we really appreciate it. so listen, folks, down s&p with gains the last day and nasdaq is the one to watch looking to mark six day of gains but too close to call right now. that is going to do it for the claman countdown, three day weekend for the markets and everyone have a safe and happy labor day weekendment kudlow is next. david: hello, everyone, i'm david asman in for larry kudlow.