all medicaid. i do know that medicaid spending last year, i mean, in 2021 went up 9% to $73 billion. and remember the promise of obamacare was private health insurance for everyone. this is scary stuff, and as a consequence, almost 66% of women are working full time. it's an all-time record. it's not great because, sadly, more and more of them are working more than one job. so after trillions of dollars pour into this economy in the last two years, all we got was more personal debt and record poverty. so listen, it's great that we have a nation that can help us and our fellow man and our fellow american in a pinch. but it's even better when the government gets out of the way, leapt us earn as much money as we can, let us keep that money. we'll buy our own insurance. these numbers are absolutely awful, but they won't make the evening news, liz. liz: i wanted to be on the evening news, but i like business news better. charles: so do i.

[laughter] liz: unless, of course, you know, they call. [laughter] i'm never leaving you, charles, that's for sure. charles: wait a minute, hold on! they got a spot in montana, you ready? liz: hey, i was in columbus, cleveland -- charles: i know, you worked your way through the whole system. [laughter] liz: thank you, charles. breaking news, folks, take a look at apple. apple is moving lower by 2.33%, close to the lows of the session after its wondere event didn't get too much wonder going with investors. this appears to be also at the same time a perfectly timed headline about huawei's new 5g phone stealing some of the apple event's thunder. let's get to this because apple has serious tonnage when it comes to the major indices. it is the most heavily weighted in both the s&p and the nasdaq. right now the s&p down 26 points, and as you see with apple's, what, 4-point loss at the moment, it's far though from

the s&p's biggest drag. that would go to oracle. look at oracle. oracle is having its worst day in two decades after the enterprise software giant missedded on fiscal first quarter revenue and reported weaker than expected top-line guidance for its send quarter. it's a very messy picture, down 13.6%. oracle cl, by the way, for those of you who don't remember, is no longer a member of the nasdaq 100, but if it were, this, well, 1388-point loss would look uglier for the nasdaq. weed's gain for the tech the-heavy index has been sliced away just a bit here. let's get to the dow heat map. apple, of course, is a dow component as well. it is close to the bottom here -- well, right now it just switched with procter & gamble, it is at the bottom of the dow jones industrials. but the blue check ups, if utility up -- blue chips are getting a big push from goldman sachs. shares of the investment bank up 2.5% at the moment. ceo david solomon striking an

upbeat note, telling reuters the chance of an economic soft landing has risen meaningfully, but he he also said that the federal reserve still has more work to do to bring down inflation. read more rate hikes. we shall see. let's bring in the floor show to mix up all of these headlines together. joining us now, david spee ca and horace didier of simko. investors don't see mitch wonder in the new -- much wonder in the new apple iphone. could you grade today's event for us? >> well, i think a pretty solid b, b-. it was not the most effective show, obviously, but we did see surprises. i think in my list the number one was the spatial video coming to the iphone 15. now, if you remember in the vision pro, this was one -- going to be one of the features of three-dimensional photography video. that'll be enabled by hand held devices which a lot of people

have been commenting about how they can pull that off. they did it, it's fantastic, it's going to get millions of people that ability to create 3-d images. the other thing that's interesting is satellite roadside assistance, excellent expansion of their satellite service. and it is hinting at a price point in the future with a -- [inaudible] period but something, a dot, to dot, dot follows that. and finally, one of the interesting new gestures you can use your watch with. now, of course, you mentioned does the street really care. it's always been this case, right? i mean, we've never had a lot of enthusiasm on the day of the event. a lot of people are feeling it's somewhat underwhelming. but let's not forget the consumer makes the final decision here, and apple has consistently delivered desirable product. and i think the theme just continues on that trajectory.

you know, sinnics -- cynics will always say it's a bit extra that and a bit unnecessary, but i think there's really cool stuff the here. liz: yeah. but you just said that it wasn't enough and that people were not too excited, so really cool. i'm looking at some of it, yeah, i think the double tap is pretty darn cool and some of the features that they unveiled for the 15 and the price of it, $799 for the base model of the apple iphone 15, dade. what do you think? -- david. coming into today roughly, what, 250 million i e phones had not been upgraded in four years. from what you saw today, will the fresh features get ethos consumers excited enough to swap out their old phones? >> liz, i think you called it on what the bullish case is, that need for upgrades. when we step back and look at a apple today, we're less than bullish when you consider what's going on with china with the government crackdown on the use of iphones, the new huawei phone which you mentioned

earlier, giving the iphone competition and is really just looking at how the stock's trading. it's not trading well at all. we look at a apple and think of the company that, the stock that's always going up and if always generating better than expected earnings and revenue growth, and it just isn't acting like you would expect it to act. you've got macro headwinds from the consumer and others, it's not someplace i would be overweight today. liz: okay. i am holding up the lightning connector, right? the lightning charger. they have decided over at apple, yeah, you know, i know you spent a lot of money on all of these chargers, but we're going to turn them obsolete. we're making them obsolete. what the hell? i mean, i'm looking at this, horace, and i'm thinking how many things do i have to swap out here? and i recall this one, because i have to have a long one because i move around a lot. what a ripoff now. [laughter] i have to switch out all of them? it felt like tim cook spent all of 38 seconds, or his people --

he didn't even do it himself. i think he had the iphone people mention it -- the all of 38 secs saying, yeah, by the way, this is no longer going to work. they know people will be annoyed, right in. >> well, apple resisted this change violently because of the e.u. regulations that forced them to do this. they are resisted because they thought it would be a waste for consumers to dispose of billions, literally billions of these cables. we're looking at a population of iphones in use today of 1.2 billion units and probably there's more than one cable per phone in use. so we are looking at a waste. but, again, it wasn't something that apple wanted to do. there are good reasons why the old connectors were, you know, superior to the usbc. having said that, they're trying to positively ship it and get a little more transfer speed, get a little bit more power through the new cable, and you can use it for pro applications a little

easier like using a hard drive directly with your iphone. however, again, this isn't something they want to do to sort of extort more money out of people p. it's been, it's been a regulatory issue for them. liz: okay. is so as they talked about how they didn't want to put billions into the land arefill of plastic and all kinds of metals, etc., david -- and i do this for our viewers, because i don't think a lot of you may have had time to watch the whole apple rollout here, but they went big on the environmental initiatives. and i want to know if you think that that is going to move the needle at all. they brought in actress octavia spencer to play mother nature, and they made a whole bunch of promises about going carbon-neutral. here's a quick clip. >> what about your water use aage? we reduced it. by how much? 63 billion. >> by 2030, all apple devices will have a net zero climate impact. >> all of them?

>> all of them. liz: yeah. and then there was the long staredown. they sat there staring at each other. i mean, it was funny and cute and all that i be, david, does it move the needle for investors? >> i don't think so, liz. people aren't buying iphones because it's ecologically friendly. they use it as a tool, as a toy, as a communication device. it has to be priced appropriately, it has to have the right features. and i don't think the ability of apple to have a positive impact on the environment is really going to move the needle for this. this has to be something consumers willing to pa pay a premium price for because it's a premium product. liz: and i do have to ask you, horace, china's what a way, there was a report out today that huawei is going to ramp up, basically raise its shipment target of iphone rival may not 60 pro 5g -- that's a mouthful -- by 20%. now, that's unconfirmed by the the company, but an

interestingly-timed headline about that. and jpmorgan out with a note saying huawei has increased its share of the china phone market from 7% a year ago to 13% now. and that bodes well for sales of huawei, not for the iphone. how do you see that competition and that battle playing out? >> well, of course there's a home court advantage for any chinese company in china. there should be, that's been the policy for the country. but it's actually more hocking to me that apple goes as far as they did gaining market share in that environment. now it's the sort of reversion to more of the historical balance. you know, the problem with china is, you know, there's a love-hate relationship. on one hand, you know, china's the source of the production of the u phone and a lot of -- the iphone and a lot of other products, but it's also an authoritarian system, and it has all kinds of issues from kind of a let's say, you know, a clul churl point of view with the

positions itself. and this is not going to get resolved anytime soon, and it's kind of been, you know, both parties are, let's say, i'm sure lies. liz: all right. great to see you. david, are you buying the stock here? yes or no. >> no. we are not buying it here. liz: even though warren buffett probably is. he only buys the stock on days it's going down, that would be today. great to have you both, thank you so much. all right. is so since 2005, and you all know in if you have iphones, apple has used google as the default search engine for its safari web browser. at this hour that deal is landing google right in the crosshairs of the department of justice. we have a live report on the first big tech no knollly case -- monopoly case. investors hailing paypal, the payments company sign a multiyear global agreement with

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liz: we have breaking news on british oil giant bp. we're watching the stock very closely. it is off the lows of the session but still down about 1.33%. the ceo resigning from his post less than four years after assuming the position. the oil and gas giant is now saying in the wake of a financial times report that the ceo is stepping down due to his past personal relationships with colleagues, and the financial times is reporting that he said he was not entirely honest or up

front about those relationships and about disclosures. again, the stock is at $38.09, down 52 cents. apple not the only big tech company making headlines. a high stakes game of monopoly underway in the nation's capital has google lawyers rolling the dice right now. shares aren't getting hammered too badly, down just about 1.25%, as the department of justice takes on the $1.7 trillion company in the biggest antitrust case since the late 1990s. the doj says google's search engine partnership sucked the oxygen out of the the space for competitors, thereby, they say, hurting consumers. does the doj is have a case, kelly somewhat do you think? >> reporter: you know, i think they could. but if i'm being honest with you, liz, it is easy to switch out on your iphone what search engine that you're using. but listen, let me update you on where we are because we were deep in opening arguments all

morning, and this has been a huge moment. the last major is case like this was microsoft, and that did pave the way for, what company? google, to thrive. the doj began by arguing that google's alleged anticompetitive practice harms consumers, even those who prefer to use google as their search engine, because there's no innovation that google's required to do without that competitive the pressure. now, the deal to preload that search engine are exclusionary, they're arguing, and that it also allowed google to amass roughly 89% in market share. further, in a pretrial brief the doj argued that, quote, google's use of contracts to maintain default status denies rival search engines access to critical distribution channels and, by, e tension, the data necessary to improve their product. of course, google sees it differently. they say these contracts are in no way ec exclusion their and they can, as i said is, easily switch search if you're a

consumer. they told fox business they don't feel consumers are harmed, instead, quote, our promotion and distribution hasn't harmed consumer choice. to the confrere -- contrary, there are more ways than ever to find information today. just the think about how you use the internet. of course in this case the burden with of proof does lie with the doj, and experts tell us a big part of that is going to be what's called the economic sense test. >> what doj has to show is that the conduct of google fails what's called the economic sense test. the department of justice is going to have to show that the conduct of google was for anticompetitive purposes and not for its reasonable economic purposes. >> reporter: and, liz, i go back to the question that you asked me at the beginning. the most interesting argument i've a heard thus far there from sources at google that they are going to use at this trial centers on artificial intelligence.

google has fallen behind in the a.i. surge race, so -- are. liz: i really like your point about how the microsoft case made way for google to soar. google was not the first in here on this battle. in fact, they were, you know, there was yahoo!, there was microsoft's explorer, there were all kinds of things, and they just happened to become the fastest runner, and so they win. we hall see. thank you, kelly, very much. technology is heating up cold cases, hundreds of decades-old murders solved using decades-old d the na evidence that has been saved. dna isn't just discovering criminals, it's also becoming a key tool used to to discover life saving therapies. 23 and me ceo and cofounder is here next on how her dna decoding company deals with a flurry of police requests all while growing its presence in the pharma space. and we've got to show you the

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♪ ♪ liz: just looking at the dow jones industrials, it's down 61 is points, the s&p lower by 30 and the dow -- the nasdaq down 152. the confession three decades in

the making, police in fairfax county, virginia, have just arrested 51-year-old stephen smirk for the 1994 murder of robin lawrence. smirk has confessed to killing the virginia mother in her home 29 years ago but only after police confronted him with dna evidence that had linked him to the crime through genetic genealogy as well as this digital composite sketch on your screen that they compared to older photos of smirk. his case along with even that of bryan kohberger is one of many now that police are cracking thanks to genetic genealogy whereby police trace the suspect by combing through and matching with distant relatives' dna. they also caught the infamous golden state killer with this technique. the surplus of arrests has put sites like 23 and me and an accessty -- ancestry in the

spotlight. 23 and me ceo anne who secrecy key joins me now. anne, you've gotten requests over the years. how do you approach it? >> we -- it's interesting, it's up often confused that we are part of this world that's helping solve these mysteries. it's fascinating, this world that's happening, but 23 and me is not part of this now. we are not -- we've been incredibly vigilant with our consent form and how we've approached in that 23 and me is about an individual getting individual access the their genetic information, and it's for you, it is not consented for law enforcement. we never have had to hand over any genetic information. most of those cases are being solved by consumers, individuals who take their genetic information separately, and they upload it to a different site. but just to reiterate, 23 and me has not been part of these mystery solvings.

liz: but just the fact that it's in your world, in your ecosystem or your galaxy, it's got to be fascinating to see the potential for all dna and the future of using it for any kind of tool whether it's investigative work to solve decades-old cold cases or the pharma world where you're discovering all kinds of therapies or if for -- for even cancer. >> i think the interesting point that you bring up here is that everyone in this world is genetically connected. so that's important for things like, obviously, these mysteries and solving these cold cases, thesing you know, police-related mysteries. but it's also critical for solving health care-related mist eries. and that's -- mysteries. and that's actually the angle that 23 and me has taken, huh is it that we can leverage the the fact that we are all we i netically connected and empower all of us to solve the biggest health care mysteries. why is it that some people get, you know, colon cancer, why is it that some people have

arthritis, and we can collectively by coming together solve those medical mysteries by understanding our genetic risks as well as by turning those findings into therapeutics. liz: and you guys have been really focused and forging ahead for many, many years to get approvals for all different kinds of testing when it comes to dna. i know you just got fda clearance to expand your braca genetic testing kit. tell me the possibilities and the potential that you see for that kit. >> what's amazing is that most people don't get a genetic test still, but there's incredible power about knowing what is in your dna because you can take action to potentially prevent a disease. liz: right. >> so, for example, 80% of people who end up having a brca mutation never knew that they even had a risk factor for it. so just to explain to people, a brca mutation is a knew decision

that you -- mutation that you might have in your dna. everybody has the braca gene, but not everybody has these mutations, and if you have it, you can be 40-80 more likely to have breast cancer, prostate cancer, other typeses of cancers. so it's really important people know this because then you can be proactive about your screening, some people go as far as having a prophylactic mastectomy meaning you can remove your breasts and they actually help prevent the onset of cancer. so what was important about this new, expanded test that a we just got is that we were previously testing on the three most common variants that were found in a jewish population. we expanded to an additional 41 variants that are most common in an african-american and a latino population. liz: this is incredible to me because what it says is that, you know, it's not gene editing like we've seen9 with the crisper, but it is focusing on

looking, hunting and finding it before it happens. it's sort of minority report, like that movie minority report only for genetic disposition of certain diseases like cancer. >> 100%. liz: oh, and a good analogy there, because with i was thinking, wait, am i wrong on this? your therapeutics program, you have more than 50 drug discovery programs on the way. what's the advantage of using genetic-based drug development compared to actual pharma drugs? >> yeah. what's amazing, most people don't realize that 23 and me actually does dug discovery -- drug discovery. when we started the company, we had this idea that we were going to empower all of you listening, everyone, every single person out there to say i want to learn about my genetics as well as i want to participate in solving the problems, helping develop a cure. so we have over 14 million customers, over 80% consent. by doing that, we have the ability to look at these, you know, these novel discoveries

and turn that into a drug discovery program. by starting with human genetics, you are 2-3 times more likely to be successful. so we all know that one of the challenges in drug discovery is that there's so many failures. so the most important thing that we can do is actually start with better inputs so that we are more likely to be successful on the output. so by starting with the human genetic insight, we have that opportunity to have a more likely successful outcome. so so we did a large partnership with gsk in 2018. it was tremendously successful. that ended, actually, in july and we are ready to roll with our own very targeted therapeutics programs focused on inflammation and immunology. liz: do you think that will be the key, your own programs, for juicing the stock, doing something for the stock? is you went public a couple of years ago via spac, and it's just not -- it's been very

difficult, yet you check all the boxes with technology, health care, all of the sectors that we all need and use. what do you think really gets it moving? maybe exploring strategic alternatives? >> i think people don't understand the 23 and me story. people don't understand -- we're known as sort of an ancestry genetic testing company but we obviously have a significant burn rate because of the therapeutics that we are developing. like i said, we've had this partnership with gsk that just ended in july of this year, so that gives us now the opportunity to do pretty significant partnerships with other companies as well. so we are 100% focused now on moving our own programs forward but also developing those new partnerships that will help mitigate our burn. are liz anne, please come back. we want to see how all of your developments continue to just crack through all kinds of existing molds. so, please, keep us posted. >> i love it. liz: thank you. >> love to. liz: we've got this fox business alert, the s&p 500 and the

nasdaq are trailing around sex lows ahead of -- session lows ahead of tomorrow's key inflation report. yes, the cpi comes out tomorrow. the fed's going to scrutinize this thing very closely. in the meantime, let's talk about ufc's parent company endeavor and the wwe have now officially joined forces, creating tko holdings. ticker symbol tko. shareses are actually up 2.3 # 3% right now. it's the new wrestling entertainment and mma company. it began trading, opening for trading today. it hit $102 a hair and right now it's at $103.12. former wwe ceo vince mcmahon becomes executive chairman of tko group. investors are banking on regional bank zions bank corp. after the company reported that net interest income grew to $199 million in august from $19 # 7 million last month. the stock is getting a big bump of 7% at the moment, but don't

get too excited, it's still down nearly 25% year to date having gotten swamped by, of course, what happened with silicon valley bank and the regional banking crisis back in march. cbs after the stock was upgrade to outperform. the research firm also announced a price target of $80 a share giving the drugstore chain company room to grow. currently, yeah, it could you another $10 to get there, it's at $70.6 # 5. a gain of 2.7% right now. top chefs even insert themselves now into the corporate pizza wars. so how is it possible that convenience store pizza, a specific convenience store pizza, is now considered the best around? the ceo of casey's general stores is here to tell us how his pit stop pizza is filling his coffers with lots of dough. ♪ liz: and when california

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liz: big question, did inflation cool down or heat up again last month? tomorrow morning we'll know when labor department unveils the august cpi report, consumer price index. that's what it's called. it's expected to reveal the cost of goods rose six-tenths of a percent month over month while year-over-year projected to be slightly hotter than july's # 3.2% read, coming in at 3.6%. okay, that's not good you don't want the federal reserve to continue to increase interest rates, because they're trying to cool down inflation. so if it heats up, that's not good. but regardless, higher prices are not stopping consumers from shelling out their cash for a slice of the the casey's general pie. we're talking about shares. investors are fueling up shares of the midwest chain the an

all-time high today of $264 and change. right now it's up 11% but over 25 the years it has gained 1, 900 plus percent. ah, looked at that pizza. convenience store pizza, really? yes. after the convenience store credited strong sales to its in-house pizzas which are selling like hot cakes, the stock started popping. yeah, you can see it right nowment casey's general said the launch of its thin option was the driver behind its strong fiscal first quarter report. let's are bring in the ceo, darren rubellas. darren, here's what i love, i love all these fancy chefs who are trying to do very fancy pizzas with the barbecue chicken and the pesto, etc. food and wine magazine, which is, of course, very fabulous and hoytty toasty, they featured you guys in an article with the headline, this gas station pizza a is the unlikely hero of your

next midwest road trip. what is the secret sauce? you maybe thrilled about this. must be thrilled about this. >> yeah, liz. thanks for having me. we are thrilled. i've got to give a shout-out to our entire team of 43,000 team members across our 2500 stores because they really fired on all cylinders this quarter and delivered an outstanding result. to your point around the pizza is, we've been selling pizza for decades, and pizza for casey's is the crown jewel of what we do. what makes it so special is that we have kitchens in all of our stores, and we make that pizza from scratch every single day in every one of our stores. we really use premium ingredients like 100% whole milk mozzarella cheese. while i know that sounds like a no-brainer, most pizza places don't use that anymore because it's more expensive. we believe that's where all the love and the joy comes in that pizza, and so we spend a little bit more on those ingredient,

and it translates into a fantastic product that our guests just love are. liz: and investors are really liking it too because it is definitely a draw, and you need a draw into with a gas station store because especially at this point when gasoline prices are starting to rise kind of dramatically, certainly quarter to date, it makes people avoid the convenience stores. we saw this a couple of years ago. so you've got to tell me exactly how you model for what, how much the pizza adds to your bottom line, i guess, in a regular quarter. >> yeah. you know, the prepared foods business overall is a big business for us, and, you know, a lot of people believe with that most of the profitability from convenience stores comes from the fuel, and in a lot of cases that's true. but in our case because of our unique business model and the strength of that prepared foods, about two-thirds of our gross profit actually comes from inside of the store and only

about a third of it comes from the fuel. so we really like to lean on those differentiators inside the store that make us different led by our pizza is, because everything else is commoditized. the gasoline is commoditized. you can buy that a lot of places. but you can only get casey's pizza in our store. are. liz: your runway is pretty long, 2400 stores across, what, 16 states. when you look at how many stores you'd like to build out, this is what's really juiced the stock at this hour because you came out and said we are going to build even more stores than we originally thought at this time. >> that's right. and, you know, a couple of things about our store growth, as you mentioned, we have 25000 stores in 16 states, but 2,000 of those stores are in 9 states that we operate in, so we still have a lot of white space to grow our footprint within our existing geography. but then you're right, we have committed on our investor day a couple of months ago that we

would add 350 stores either organically or through acquisition in the next three years. and our m&a team's been busy at work lining up deals, and we said that we've got 125 stores already under agreement to procure, and we're going to build another 50. so we, we increased that guidance for the year on store growth, and we're well on our way to our 3-year commitment here in the first quarter of that 3-year time period. liz: darren, my floor crew and i have going to hop in the car and do a road trip out of new york to come see a casey's general store and get some pizza, because i've got to try this stuff. [laughter] good stuff and thank you very much. i'm sure investors are pretty happy at least today. thanks, darren can. >> all right. thanks a lot for having me, liz. liz: you got it. dow is down 32 points. much more ahead including. togasparino. ♪ and retirement savings.

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♪. liz: okay with walter isaacson's highly anticipated biography of elon musk hitting shelves today the author is set to be preparing for pretty serious backlash from the tesla ceo, similar to the kind he received from the family of the late apple ceo steve jobs when he

released his jobs biography back in 2011. charlie gasparino with insight. >> if you go back to 2007, lorraine powell jobs came out and said very critical of walter isaacson's book. you look it up, it was basically pretty tough stuff. you made my husband look like a raving lunatic. after you read one of these biographies which he had total access to job as he had to musk, people start reading it and reality of giving someone that much access sets in where you see all the dirty laundry and he clearly saw all the dirty laundry with elon musk. i will say this, i've been speaking with people who are very good friends with walter isaacson. here is what they say. he went into this book, liz, i'm thinking, this guy is worth think of one i my biographies, he does the best ones, right, all the key figures? he is at the center of this

emerging new technologies that are transformational. like the ev movement, electric vehicles, putting men on mars possibly through space x. even social media, twitter, even though that came later was already involved in the, in the biography when elon bought twitter that added to it. he is in the middle of everything. he could have sort of expanded the war into ukraine through one of his drones recently. he theoretically has his finger on the nuclear button in a way, that no other ceo really does. liz: you mean satellites? >> you remember he was going to send -- that is one of the big scoops they had, that ukraine requested some sort of a satellite. liz: not a drone. >> i thought it was a drone? liz: it's okay. >> you understand what -- liz: i hear what you're saying. >> he has his finger, he could have expanded the war in ukraine based on one of his products so

to speak. the guy at the center of all of this is one of the most mercurial, sometimes odd, people that you have ever met and i think what i'm hearing from isaacson is, that was the part of this thing that really blew him away, just how, kind of how damaged elon was by his upbringing is one thing. how different he is as a person. he has quirks, strange characteristics and how this whole persona sort of coalesces now into one of the most powerful men in the world and now, the question -- liz: so he is going to blow back. he will be mad at isaacson. >> it is all there in the book. he has interviewed grimes. he interviewed his father. he is interviewed a lot of people. it is all there. goes through it in painstaking detail. that is one of the things that

walter does bring to his books is he's a great journalist. like a really good reporter, besides being a good whiter. >> the best part of him he doesn't care what his subject think. >> no, here is the thing, i understand elon didn't throw him out of one meeting and he did not give him the book until it was done. so we're still waiting for what elon has to say and so is he. he could come out and really viciously attack it. he would not, isaacson would not be surprised if that's what -- liz: you remember the book came out, warren buffett gave al littles schroeder all-access. >> right. liz: when the book came out he was unhappy. that relationship was put on ice. >> yeah. it does -- liz: authors don't care. they're not writing it to continue a relationship with the subject. they do it for the readers, right? >> you shouldn't care but sometimes you do and it does happen and this is a controversial subject and, i think this is, you know, we're going to be reading and

regurgitating this book for a while. i said it yesterday, you didn't like it, we got great social pickup on our chat yesterday about this. liz: okay. >> yeah, maybe he is a genus, i give you that. walter thinks he is a genius. but the final chapter is not written on him. tesla could turn out to be a dud. its valuation does not reflect how many cars it sells. base x, who knows what is going on there? will he really put a man on mars? >> okay. >> twitter, he spent $44 billion on it, 40 billion more than it is worth. liz: your social media may have been positive to you. i got some tweets where people said, tell charlie he is a genius. >> no, that is i goat. i got negative. liz: oh, okay. >> i love it when people hate me. you can hate me all you want. liz: i hate you now because i got jackmanly standing by.

>> i have 1.1 feelings. i have only reason i have feelings because it is 1.1. liz: or, charlie. cpi a week from today. the kick off two day september meeting. markets pricing in 93% the fed will stand pat, not move on rates. our "countdown closer" says that will not be the case at the end of october. jackmanly, global strategist for jpmorgan asset management. jack what do you think will happen at the end of october? >> at the end of october i think we'll get one more interest rate hike. what is nice about the timing of our discussion today we don't have to speculate much longer. next week we have the summary of new economic projections. we'll have the new scott plot out of the federal reserve. we'll have more clarity on what the fed is seeking. i assume they will not do anything with this dot-plot. they will maintain the notion we get 25 basis-point hike to close out the year and hold rates

steady. that clarity will come imminently. everybody needs to pay attention to, the dot plot of economic projections next week. liz: sometimes that means equities will have too much risk premium built in there. so do you go to treasurys what kind of fixed income do you look at? >> for the first time in a long time, liz, i'm genuinely excited about fixed income as an asset class and there are couple different ways you can talk about this. from a purely valuation perspective fixed income is quite attractive because stocks are not cheap any longer there is a valuation issue with the s&p 500 but also because yields are as high as they have been in 20 years but there is also when it comes to fixed income, this promise what is right around the corner, imminent, about to happen, which is that fed pause if not downright pivot. when the fed pivots, and we know it is going to happen, liz, i don't know if it will happen in the next three months, six months, 12 months, i'm not sure but we know it is going to happen, and when it does that

duration trade is going to kick in and those existing fixed income instruments you buy today, tomorrow, next week will be worth a whole lot more than they were when you bought them. liz: all right. >> i'm personally longing at treasurys. i don't think you need to get cute with it. there is ultrahigh quality. more yield than you have seen in very long time. i'm taking a little bit duration risk, maybe between three and seven years. i think that is the sweet spot. lock that up now, it is incredible opportunity for investors looking to deploy new capital. liz: some might say you're a hill late on that, now going with the five-year and seven year, that is interesting. we don't often hear that. [closing bell rings] liz: that will do it. there is the closing bell. tomorrow vmware ceo joins us in a fox business exclusive and of course the reaction to cpi. ♪. larry: hello, folks, welcome t