going to war in capitalism and going to poverty and eventually leads to dictatorship and i got less than more and getting your thoughts on this ladies. ton. >> look at the economy and hyperinflation and run away inflation and rampant poverty and how do they respond? price columbias and be concerned to folks out there that vice president is harris is talking about that. that. charles: thank you, very, very much. kelly o'grady if nor liz claman.

charles: i i'm kelly o'grady inr liz claman and we're off session highs and well into the green and markets are on track to close in the green after their best week of the year but first we need to take you on the campaign trail down south and vice president kamala harris wrapping up an event in raleigh, north carolina. this is the first time harris laid out economic agenda and first time we're hearing this and live to edward lawrence at the white house. edward, break it down for us. what did this economic plan include?

reporter: it was the sticky inflation and going to combat that and where he just heard the vice president shea say she was going to empower the ftc going after companies for price gouging. >> we all know that prices went up during the pandemic and shut down and failed. but our supply chains have improved and prices are too high. reporter: doesn't address the stick jim jordan inflation like -- sticky inflation like wake edge fellation and going after corporate landlords and raising rents and ban companies for buying homes in bulk and she

singled out the food industry like meat and chris young the executive director of meat processers is saying there's a direct correlation between energy and regulatory policies of the current administration and the increased cost of goods to consumers. when the cost become too great, a company unfortunately has to pass them along to consumers in order to survive and continue to meet consumer commands. kelly. kelly: thank you, edward a. lot to unpack. stocks are looking to close out a strong week on a high note. look at this.

it's going to be longest winning streak in more than a month and the dow and nasdaq all heading for their best week of the year. think about it. what a difference a week and a half makes but can the momentum continue? nec week a host of reports from retailers, lowe's tj maxx, wall street and more will they like what they hear about the state of the consumer and get right to the floor show to discuss that and the possible economic ramifications of a harris presidency. joining me is the lonski group president, john lonski and ed mills. gentlemen, thank you both for joining me here. tons to unpack. john, i want your reaction to what we heard from vp harris and price controls in the grocery stores and solve jet era policy

and mixed in the policy and neither seem to do well but she's choosing to put this out as part of her platform and >> they're going to concede at obtain food price inflation and going to sell them in brooklyn and the records shows that all price controls do is reduce the cost of consumer goods and ultimately lead to higher prices. they don't work. nobody likes it. price controls imply the rationing of consumer goods and imply the long lines at gasoline stations.

and this is a real empty idea. kelly: let me bring you in on this. i played this out. price fixing, grow stores have to pay their vendors and pay farmers for eggs and milk and meat distributers and their cost go up and wages and input cost and yet the grocery stores can't raise their prices and they already have 1-2% margins and what does that mean from a grocery standpoint? >> we're grocery stores and have a lot of chains announcing closures of grocery stores and fewer stores and it'll be all the more difficult to purchase groceries. as i've said, ultimately they're going to have to abandoned these price controls and when they do, grocery prices, prices of food and beverages will go through the roof. this is never worked in the past, it is not going to work

going forward under a harris administration. kelly: ed, what we heard from vp harris viewing ftc with more power and attorney general withs more power to go after the price controls with these corporations specifically in the grocery era and my antenna goes up if i'm other industries who have seen the ftc chair and others considered antibusiness and if you're some of the other industries, how are you reacting to what we just heard from vp harris? >> yeah, kelly, i put on my political hat and other political implications and the market implications of what she's imposing and the perspectives and biden harris administration knows it's going for the administration and they want to be able to go aggressively after this and sop

of the innation that o you are canned you should the biden administration and obviously harris afters part of that . from the market, i look at deal with mars and telenova and if harris selected and lina khan stays at ftc, does she elect someone else? i'm contemplating a deal if you're in that building and meat packing industry and food industry and do you pause to say, let me figure out what's happening in the election before i kind of sign the dotted line to announce a merger and going to see a bit of slow down in the market. and continuing or changing for

the biden administration. kelly: yeah, might take away from hearing that and it'll be much more scrutiny on the mna space and more scrutiny on the consolidation and we broaden out and we talked about the markets were good retail sales and cooler than expected on cpi and cross landing is being harolded and looking at manufacturing numbers that we're getting and seeing contraction and that is certainly a w way always haroldg a recession and are we done with the slide that we saw last weekend? what do you think comes next week when we hear from powell at jackson hole. >> yeah, the market is pricing in a quarter rate cut in september.

the continuation of harris biden administration and the market knows what's going for the fiscal policies and one thing i've gotten a lot here is the unperson seizure disorders that comes with terrified looking at potential immigration changes and is there more uncertainty if there is a trump presidency? that's an interesting debate but i think from a market perspective we have unwinding carriage last week on the u.s. yen market. that kind of forced selling and goating to markets pricing a democratic or republican suite which we think and at least a 60% probability and that's where there's volatility and going through next week and a bit of tail wind and price in some of

that democratic sweep in addition to some of the concerns that come with a republican suite and there's positive and negative and easing the outcomes and that's going to see volatility coming back for market volatility. susan: john, i want to bring you in on the last question here and i was reading your note and you had a very interesting take on low 80 and what that means for the incumbent going into the election. so your thoughts? >> we've had three elections where the consumer sentiment was less than 80 points going into the election and it would be 2008 to 1992 and 1980 and each instance for incumbents presidency and that's bad news for kamala harris.

kelly: gentlemen, we have to leave it there. thank you, both. biden harris administration chips and sciences act ramping up to another american chip maker and who next. the count down is coming right back. louis! cut! more mud! action! louis, louis! cut mud on her face! louis! okay everybody, that's lunch! (♪)

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kelly: reilly financial jumping higher up over 15% after co-ceo offered to acquire the company for $7 per share. financial services company has

plunged 63% after announcing it took a large charge on the investments and the company delaying filing of the second quarter statement and suspending dividends and reports of pro by authorities on whether the company properly disclosed risks with the assets ratter and investors liking the idea of taking private to deal with things. tax preparer increased dividend by 17% and announced a $1.5 billion share buy back program and gained almost 40% year-to-date and shows even with uncertainty, what's certain is you've got to pay your taxes. look at bare up 8.5% and legal court in philadelphia said they did not violate u.s. law and

failed to add a cancer warning and the app appeals and federal regulations received pennsylvania state law here meaning bare did not need to place a warning on the pesticide and stock is rising the decision could eliminate much of the remaining legal liabilities for roundup and that's made by the monson toe unit. the semiconductor company receiving up to $1.6 billion to use for construction of three new facilities and the funding of u.s. chips and science act earmarked for the company to build two factories in texas and one in utah. the dallas company expects to receive there are 6-8 billion in investment tax credit and 10 million in funding for work force development. coming up, vice president harris unveiling her plan to address the nays' housing crisis. one proposal includes $25,000 in down payment support for first

time home buyers. will this help or hurt the housing market? we're coming right back. ♪ business. it's not a nine-to-five proposition. it's all day and into the night. it's all the things that keep this world turning. it's the go-tos that keep us going. the places we cheer. trust. hang out. and check in. they all choose the advanced network solutions and round the clock partnership from comcast business. powering more businesses than anyone. powering possibilities.

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campaign in the event raleigh, north carolina, earlier today. harris announced four-year plan to address the nation's growing housing crisis. listening to this. >> we also know that as the price of housing has gone up, the size of down payments have gone up as well. even if aspiring homeowners save for years, it often is not enough. in addition while we work on the housing shortage, my administration will provide first time home buyers with $25,000 to help with the down payment on a new home. kelly: vice president wants to ramp up home construction to help with the amount on the market and home construction fell from 6.8% in june from the more than 1.7% expectation.

joining me live in a fox business exclusive is the american real estate cofounder and come pus real estate agent jason hay worth. great to have you onset with me. >> thank you. kelly: i want to get your reaction to vice president's four year housing plan and $40 quintillion fund for innovating home construction and people seem to like this and we got compare from the national association of home buildeers ad we're down for this and like this and what's your take from this today? >> trying to attack the two big problems in the housing market and it's supply and affordability. too many people cannot afford to purchase a home today and interest rates remain high coming down and likely coming down further later this year and supply, we have supply constraint and one of the reasons we have supply constrains is sellers are locked in to their homes and more.

kelly: 3% mortgage going out and why is that something that's been higher and other thing i'm very interested in getting your take on and announce ago 25,000 down payment support for first time home buyers and what's your take on this. isn't this just going to increase a price if i'm a first time home buyer and the seller will say, you have an extra $25,000. >> she probably -- i haven't seen if it caps at a certain number and i think it does, it was just announced and haven't gone through all the details of the proposal. first time home buyers to purchase and first time buyers is a particularly sensitive and they usually require financing and so with interest rates going for sidelines right now and this would help get them into the market. which is good. kelly: what concerns me though. you've got a lot of the policies

that you just mentioned and they go out and get a lot of spending and we cut rates and market is pricing in a rate cut and people will be excited and going out and they're going to make bids for houses and people who like you said are not willing to sell right now and they will also jump back into the market and all the spend asking out there, isn't that a worry then if those rates come down they're going to have to come back up. >> increase supply and offset the innation natural rights approach concerns. >> all right, i like the idea of

that with them being with the take and stop wall street investor from buying all the homes and marking them up and renters and your take on this. wall street gobbling up the homes in america and that's actually not happening right now. we're actually acquiring far less than they were before. i'm not sure if that proposal is going to get very far. i like the idea of washington looking at the problem of home buyers being locked out of the market and what are ways we can get them back into that? that's the right approach to take. >> certainly. that's synonymous with the american dream being able to buy a home instead of throwing your money out there with rent. >> one of the biggest changes to

the real estate going to take effect to this weekend and $418 million settlement by the national association of relatively constant torrs. what does this mean? >> commissions are always negotiable in the country and the difference is now when me moralizing that in an agreement between a buyer and a broker. we were going to go out and look at apartments this weekend and before we did so, you would sign an agreement with me that spells out what my obligations are as a professional to you and also what you would pay me for my professional services. if the seller is not going to compensate me as your agent, then you would be k compensating me. that conversation is different while commissions have always been negotiable. these forms and the conversations we're going to have now going farred and

signing one before. this is the new rule and starting tomorrow and a lot of brokers are ready for them and excellent job of educating everyone and consumer and going to take 2-10 and confusion out there and all going to work. kelly: we appreciate you explaining to us and take your point and going for this weekend and more. >> thank you for having me. kelly: don't miss our coverage of the democratic national convention in chicago next week. it starts monday. we have a huge win for fubo tv and a judge temporarily blocked disney sports streaming venture with fox and worner bros and called venue sports. in the lawsuit, fubo said this venue streaming venture would consolidate control over sports television on the ground breaking partnership and first

announced back in february and fox's f s1 and tnt and tbs. checking fubo, up close to 23% and see that big spike on the news. certainly something to watch there. coming up, nearly 200 of the finest collector cars on display in pebble beach, california. up next we're going to have more on how vehicles have driven up in value. that's next. ♪ can i have another pancake? from full house... ...to empty nest... ...to free birds. vanguard personal advisor can help you prepare for every chapter. we got this. that's the value of ownership.

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gordon is the monterey, california, pebble beach con core and they compete for the best in show. max, you got the best in reporting assignment there. what are you seeing there? reporter: yeah, kalely. i think so. kelly. i'll have to try the rare whiskeys as another alternative investment and this is incredit card and will surrounded by the gorgeous cars and the concourse and dell michigan, 200 best in show and industry events and auctions on the gooding and company where they're auctions off 184 beautiful vehicles. i've got charlie ross, the man with the plan. the guy with the gavel, the principal automobile accident near. thank you for join -- automobiln near. what is this car here? >> it's a deley. 1938 from the peterson museum

and it's qu quintessential deck koenen. nothing is more art decco on that. $2-3 million. reporter: charlie, you've had quite the career and went from auctions off chickens to antique furniture and now auctions off multimillion dollar cars. how do you get those bids to go ever higher? >> humor, largely. what i have to do is connect with the bidders in the room. no good for me trying to tell somebody about a car. they'll know more about the car than i will. i've got to get inside their psyche and my motto is if you've got 1 million, november probably got 1.1 million. reporter: you sold $95 million worth of vehicles last year. you guys are hoping to get more than that this year. talk about the field. what types of cars do you have here and what's the vehicle that excites you the most?

>> always a difficult question. not always about value. it's about the look and the feel. because of personal connection. social norms something that appeals to me might not appeal to a young man like you. we've but got everything from prewar cars and 50s and 60s and modern cars and depends on what you're looking for and style, elegance and comfort, speed, excitement. i like to think the art decco era is the era of the collectible murder car and everybody can appreciate that. reporter: charlie, these looking for tun. what have you seen as far as trends and which brands have increased in value over the past couple of year s? >> less people now prepared to make the effort to run the early, early car and my generation liked open it and fiddle around till it worked. i think this day and age and people don't have much time and want to get in the car and turn

the key and drive off. that's been a huge change i think. less passion, more practicality. reporter: you have a lot of passion for what you do. thank you for joining us here on fox business. there's a whole lot of beautiful cars here. we may be pouring money together and getting it done. kelly: i love it. i'm a little afraid my husband was watching that segment and sitting there and i'm more invested. great report, max. from cars to robots and it's down 2.25 right now but if you zoom out for the week, you can see the huge jump on wednesday when the company announced an appetizing partnership with shake shack through uber eats. next time someone from los angeles ordering shake shack and uber eats and they may be delivered by delivery ro robotsd they're so cute.

going up to 7 miles an hour and carrying 50 pounds of cargo and this partnership is the latest surge in the stock since nvidia this a roughly 10% stake in the delivery tech company and it was back in july. a fox business exclusive, so good having you on the program. it holds a special place in my heart and i visited you and how are deliveries going? >> we sackmary hundreds of customers and amazing to have partners added to our roster. kelly: i have to say with all of the excitement around this shake shack partnership, are you surprised to see the stock down today?

>> you know, it's a young company. the stock is up like 3, 400% since last month so it did pretty well and i'm excited about investors paying attention to us and they like what they've seen. kelly: diving into a robot and one of my favorite things in los angeles and moving to new york was seeing the robots sort of going around on the street and they're all named and that's ernesto. i loved him. kind of seeing all this. it goes 7 miles per hour carries up to 50 pounds of cargo. how are delivery times? the car can go a lot faster.

>> at the end, customers need to get their food in about 30 minutes and deliver one or two miles in a similar time frame and customers are quite happy with that. >> we have 100 robots right now and more coming online and then it's 250 and more in q1. it's a manufacturing process that's started. kelly: ordering food and next big thing coming from. >> going behind me and going to have the next with them going for them on the san diego.

>> they're looking at them going to have time and there's a long list of things to do. it's just a matter of prioritization. kelly: i can't imagine if i didn't have to run to cvs and one of your robots could pick my prescription up for me. i always seem to remember right before it closes. i would love that. you brought up expanding into the other realms because you did split off from uber in 2021 and i believe uber still holds an investment in your company are you able to work this other companies are are you getting there? >> yeah, we spun off and helping with uber and more in the beginning and need to be able to

serve the entire market to get the best economics and that means uber is the best approach and we actually have a competitor to us and it's one of the partners and investors as well and asia and looking at this and it's part of the plan. jot partnership from there and ai tech is very much powering these robots so where do you see that partnership evolving. it's been a close partnership

and we can advance from them and getting feedback on this next wave of products that are going to be clear and machines are navigating their environments and really at full front of that and it's been an exciting fortunate way to work with them and hope to continue that. five times more compute and even more ai on the device. kelly: fascinating and appreciate your time today. congratulations on all your success. >> thank you, kelly. kelly: by the way, for those watching at home and wondering how do you not steal this when i was at the headquarters and i asked them the same things and it was impossible to try and get that cover open and have a code to put that in and say okay, this is my food. don't worry, no one will steal your food. up next, we go live to hawkeye state where the 170th iowa state fair is in full swing. deep fried twinkies on the menu and how they're feeling about

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kelly: kamala harris and continues to be voters number one concern. what are the attendees at iowa state fair saying? let's go to iowa state fair where the big money show host brian brenberg is talking to voters. you actually may have rivals for them and more. reporter: kelly o'grady, it's good to see you at the iowa state fair. it's a blast here. i got to tell you about the sky ride going on. my folks going on and scary for him and it's the >> old mill. you see that. that was my favorite ride as a kid. i haven't had time to go on it yet today. all the games out here and talking to voters and iowans as well asking about financial situation and how they afford the fair. listen to what they had to say, kelly.

>> one particular item that i buy all the time go from 99-cents to $1.39. >> groceries have gone way high and spending twice as much on our groceries. >> i had to just -- trying to just keep going. it's been rough. reporter: kelly, we've been talking to voters on how they deal with being at the fair and finances and one thing that's clear is they're counting their pennys and doing a lot of careful budgeting, which make as lot of sense, but they're wondering when they're really going to get relief. i don't know if kamala harris' latest plan sold on that and i got to tell you, i was able to scrape together just enough money to get one of my favorite treats. i'm a big cheese kurd guy because i'm from minnesota and got myself some cheese kcurds, kelly. we're signing off with cheese curds. kelly: cheese curds. i love them. i saw you eat rattlesnake. i saw your parents eat

rattlesnake. your mom was a little bit hesitant to share her full feelings about it. how did it taste? reporter: you know, i got to say it tasted a little bit like sausage, and even just a little bit like chicken. i know that's cliche but what it tasted like. we were happy to eat it and i got to say everything here at the fair is good and easting festivity for the senses. that's right. kelly: okay, tastes like chicken. that feels like the cop out answer, brian. i will believe you on that. reporter: what can i say. kelly: that was a great report. thank you so much and enjoy the rest of the fair, brian. reporter: you bet. kelly: now president biden is

vice president harris, they announced medicare drug price cuts yesterday and medicare reached agreements that have manufactured to lower prices for 10 medications. what does this mean for the sector? one pharma company is the closer's pick. joining us is cfra research chief investment strategist. sam, great to have you here and that news coming out yesterday. so i want to get your take. i know that you like abvi, the company that ma makes humera. why is this your pick? >> good to talk to you, kelly. we tried to combine technicals with fundamentals and obviously you're familiar with the cfr stock reports and the 100+

equity analysts that we have and we have a technical group called lowry reservice connected and provides momentum based study and leverage the work they do and look at stocks by favorable technicals and fundamentals and basically when it comes to what they own, it has two fairly new drugs out there and skirizi and rinvoke and those you've seen a bit on advertisements and we think that's going to be assisting the company's growth profile and expecting to add more than $15 billion and it's in 2025 and basically we've seen good growth in the stock price and anticipation of this growth but we still think there's more growth ahead. kelly: okay, $15 billion by 2025, that's quite a lot. i have a follow up for you though. of course one of the things vice

president harris was talking about yesterday and today and bringing down the drug prices and are you worried at all that a pharma company like abbvie might not be bringing new drugs to the market if you are seeing that pressure from the government? is that sort of impacting your thinking about the long term future of abbvie and others in the space as well? >> well, that's a concern that we have. i mean with the inflation, the iras and inflation re-conduction act with the attempt at putting drugs around medicare observation and reducing pricing et cetera. that put pressure on stocks in the healthcare space in general and pharmaceuticals and the market rate on the sector itself but i would tend to say it'll be tough sledding going forward. healthcare stocks underperformers certainly in this most recent advance off of

the august 5 high, even though all sizes, all styles and all sectors have posted advances since august 5 when we were down 8.5%. really it's investors going back to the growth areas like tech, communication services, financials and consumer discretionary and that was at least in the near term where the momentum will continue to reside. >> a company with good, near and intermediate momentum and a four star ranking on the stock and we upgrade it had fairly recently and we think that we're going to be seeing recovering demand for the products on two consecutive quarters and that we'll see

billing acceleration, new products, new product upgrades and existing products to upgrade and it will drive expansion in the company going forward. powell and jackson hole and everyone saying rate cut, rate cut but the manufacturing data i'm very worried about this and we're seeing the sector contract and do you think we're suffering a soft landing or a hard landing? >> 2% g.o.a.t. on average for all of 2025 and we still see the

consumer continuing and we'll see the unemployment rate continue to tick higher a little bit and we think that it will end up being more of a soft landing. we do think that the fed will be cuts rates 25 basis points in september, november, and december and four more times next year. kelly: sam, we'll see what they do and let's hope they can stick state queens like simon biles. appreciate your time, sam. markets closing higher for the day and week. nasdaq surging 5% this week. next week make sure to tune into fox business coverage of the democratic national convention. there's a chance to show for you monday. larry: hello, folks. welcome to kudlow. i'm larr