home. he's the thing, i'm old school, i'm going to just lay it on out there. my thinking is we can either continue to be prosperous or we can just let it all go, we could put it on some sort of cruise control like germany has done. what happens with that is that at some point you're no longer the the preeminent economy or military power in the world, and, of course, when that can does happen, you won't have a choice except to work hard. now, i understand, you know, that this is the era that we're in and, by the way, every great power has gone through this. it's human nature. you get to the certain place, and it feels lofty and it feels like you can put it on autopilot. i'm here to tell you, you cannot put it on autopilot. okay, take a couple vacations if you want, but -- [laughter] this new era, let me tell you, you don't stay at the top if you don't keep working hard at it. liz: that's what eric schmidt, who ran google for a long time, recently said, and then he

apologized. don't apologize. charles: he might be running for office somewhere down the line. liz: maybe too smart. charles, thank you very much. it is that time again, folks, the markets have now entered that key window of time before next week's federal reserve meeting which means that investors usually right about now freeze in place. and while this morning that looked to be the case, we're actually in rally mode as we kick off the final hour of trade. the dow has seen a 419-point swing from this morning's low to the session high hit about 24 minutes ago. we're just off that high, gaining 145 points. same with the s&p 500, looks very similar here. you've got a gain of 37 points. had been in the red earlier in the session. nasdaq, the strongest of the day just a few minutes ago, gaining a 1% at the moment or 1822 points. russell 2000 looking pretty decent here -- 182 points. the gain of 1%, showing real strength here. it's kind of a repeat of yesterday, isn't it, when the

dow went from a 743-point loss to a 128-point gain at the close. turns out that reversal, which lifted all the major indices, marks the largest comeback in nearly two years. we do have some big moves in individual stocks we need to tell you about. moderna, it is the worst perform every on both the s&p and nasdaq. this hit of 11.9% brings the stock to a-year low after the company -- a 4-year low after the company says it expects 2025 the sales from 2.5-3.5 billion, analysts had anticipated 3.7 billion. at the other end, warner brothers-discovery and kroger, very stock-specific stories. warner brothers is gaining 9% at the moment, very much at the high of the session. top of the s&p after striking a deal with charter communications to the add its max streaming service to the cable company's user base at no extra charge to the customer. warner brothers, you see that 9% gain, charter up 3%. and then you've got kroger, second in line at the top of the

s&p. grocery chain beat quarterly earnings and raised the lore end of the full-year forecast on revenue. on the earnings call, ceo rodney mcmillan noted cost-conscious shoppers are buying groceries and eating at home which leads us right back to the federal reserve. the central bank's 2-day policy meeting kicked off next tuesday. markets widely expect those more frugal customers we were just talking about perhaps are reacting to a slowing labor market which is expected to spur the fed to cut rates by a quarter of a percent. so job creation, not inflation, is now the focus? well, yesterday's august cpi revealed faster than estimated inflation on the consumer price side, and regardless, investors appear to be moving past the inflation story. today we got ppi, but as we look at what's going on in the inflation world, should investors get moving on stock purchases or wait on the fed? if let's get right to the floor show. erin gibbs and trader scott

bauer. trader -- scott, you're the volatility the expert here. i want to say about 18 minutes ago the dow was up more than 200, the s&p looked really strong, same with the nasdaq, and then while they're still up, they took a big dip down. so can you tell me about what's going on in the volatility moves that we see at least in this session? >> we have seen some real big volatility moves, liz. and you know what? people are on edge. retail is on edge. and whether it's the algos driving the market or not, the retail traders are following that that lead. so literally with every, you know, i'm going to say 10-15 points in the s&p we're seeing the vix actually change more than it normally would have. and that goes to the overall ang ast in the marketplace right noe right now. yesterday when the market was at its bottom yesterday with, the vix topped out over 22, i think it was 22 2.5.

and on that rally, boy, we saw that just absolutely collapse. this is not going to go away anytime soon, liz. we're going is continue to see this, i believe, beyond the fed meeting next week as well. in specific with today, yes, we saw the vix, you know, kind of pop up a little bit on that last downdraft over the last 15, 20 minutes. but this is a marketplace where i believe the new range for vix over the next 6-8 weeks is probably no lower than 15, maybe even 16. on the downside. and well into the 20 thes on the upside. liz: well, we're at 17 plus now. we had been 13 forever which meant very little fear in the markets, erin. what are you seeing? this is the question, ahead of the fed -- which it looks like a quarter point hike -- cut is baked in, couldn't shouldn't you just be investing now or cashing in on some of your winners? >> i believe in definitely cashing in on some of your

winners. what we're seeing is a bit of a risk-off sentiment. it started in august. but really when you look at the bond markets, you just see those yields going down, people piling into safety bets. they're also piling into, some of them, more risk-averse sector positions. though we're seeing the bounceback in the past two days for technology, a little more risk on than the last hours -- liz: well, sure. broadcom is a real winner and nvidia's looking strong. >> absolutely. i still say the overall trend, i don't think these past two days are going to completely wipe it out, i still think we're seeing a lot of risk-off, a lot of sector rotation more into stable companies that can handle downturns that we're worried about coming from from some of these employment reports. liz: it's kind of funny, over the past couple of weeks real estate has become one of the strongest -- >> yes. liz: -- like, today it's one of the weakest. but that said, you look at what has done well over the past three months. telecom is up about 20%. that chart just shows real estate is second, up 4.25% if --

14.5%. what's the trade there? >> so within the reits, the commercial spaces that specialize in malls, they're still underperforming. but you see some really great opportunities within residential, health care reits, and one of my favorites, equini, and, which is data warehousing -- equinix. but overall a, the entire reit space looking at lower interest rates, people are expecting cap-x to be lower and an opportunity because it's such low value. liz: yeah, you can see it's been on a real tear over the past -- well, look at it, over the past month it may look flat, but jumping, you can see it has had a very nice performance and checks both boxes, tech and real estate. scott, what do you like here especially considering we're just day days away from the september fed meeting, not to mention the election which also

ads a bit of volatility although i think that's outsized importance? i disagree that yesterday, depending on what the postdebate polls showed, the market started to look bad and then good again. i just looked at nvidia, and nvidia lifted the big market move yesterday. >> yeah, i think it's really, really difficult. at this point, you know, almost two months ahead of the election to lack at a particular stock or a particular sector and say, okay, if one side wins, this is where we want to be, if the other side wins, this is where we want to be, because we know how many gyrations we're going to have. i think that is really, really difficult. overall though, when i look at a everything combined, yes, the economy is getting weaker. and even though the consumer is, you know, still kind of hanging in there, consumer numbers are -- they're not bad. they're getting softer, they're not bad. what we are seeing is that the upper demographic really spending down a little bit. that's where i see the biggest contraction. so when i look to retail, cost

costco, to me, even at all-time highs, that's a stock you have to have because that is going to be a go-to that all demographics are going to continue to go to. one area that i'm a little bit concerned about, actually a lot concerned about, are the industrials. we've seen some nice if rallies here do -- nice rallies here. but with weakening manufacturing day that that we have had there, that is really not a place i want to be in. i think stocks like the caterpillars and the john deeres out there, they may be a little vulnerable at this point. liz: erin, that leads to manufacturing, and we've got the ppi number, came in slightly -- producer price index, inflation at the business level -- or inflation read, what businesses get if for their goods and services. when you see that it was just a bit hotter than expected, is inflation still a thing? is it still a worry? >> i think when -- look, it came in hotter because i don't think people properly revised, took in

the revisions from the prior month. for me, that was pretty much a non-event. again, it just came in slightly. but certainly, inflation is still there. because otherwise we'd see the fed already cutting. you know, i think we -- i think they already would have been more aggressive about, you know, cutting back on the reits. -- on the rates. so certainly, that's something we're going to see consumers faced with because inflation is still out there, and wage growth has just been able to hold steady with inflation and slightly outa pace it. and so -- outa pace it. i think like scott was saying, the retail space is going to be challenging because people are going to be more careful about where they spend their dollars. liz: did you guys see that the federal reserve came out with interesting numbers, u.s. household net worth rose to a record $160 trillion plus in the second quarter? scott, that kind of reads to a soft landing scenario, does it not? >> it does. i still think we need to be cautious though. you know, you guys were just

talking about are we finished with inflation. we don't see straight the lines up and straight lines down. so just because the fed says we're in a good place now, we're going to start cutting rates, it doesn't mean that along the way whether two months from now, sick months from now we won't see inflation uptick again. i think that's actually a healthy thing for the marketplace, and that, i think, really leans into, yes, at this point we are on path for a soft landing. liz: okay. scott, erin, great to have you. [laughter] the volatility continues. i mean, just look at this intraday chart with the dow. of course, fox business is going to be all of your to fed day action covered next wednesday for the rate decision and fed chair jerome powell's news conference. we are going commercial-free that day. it all begins 1 p.m. eastern with complete if postgame analysis right here on "the claman countdown" at 3 p.m. eastern. is it a match made in stock

trader heaven? shock jock howard stern and the oracle of omaha, warren buffett, are now circling in the same constellation. siriusxm trades in its own galaxy. if details straight ahead on that. and later, famed boxer and social media star jake paul is out to disrupt the world of sports and not just by attempting to knock out mike tyson this november. he is here live to tell us about his new sports media and gaming app called better. "claman countdown "is coming right back, dow is in the green by 156 points. ♪ ♪

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the moment i met him i knew he was my soulmate. "soulmates." soulmate! [giggles] why do you need me? [laughs sarcastically] but then we switched to t-mobile 5g home internet. and now his attention is spent elsewhere. but i'm thinking of her the whole time. that's so much worse. why is that thing in bed with you? this is where it gets the best signal from the cell tower! i've tried everywhere else in the house! there's always a new excuse. well if we got xfinity you wouldn't have to mess around with the connection. therapy's tough, huh? -mmm. it's like a lot about me. [laughs] a home router should never be a home wrecker. oo this is a good book title. liz: fox business alert, take a look at mcdonald's shares up just a half a percent, but

mcdonald's is making a move to keep investors and customer happy by extending it $5 value meal. the fast food burger chain announced that the $5 value meal offer, which mickey ds unveiled in june, will now be extended at u.s. locations through december. now, listen, a value meal was very well received by cost-conscious customers. it includes a mcdouble or mcchicken sandwich, small fries, 4 piece nuggets and a -- 4-piece nugget and small soda. mcdonald's also adding more deals to the menu, it's going to offer a 10-piece mcnugget box for $1, that's once a week, through the app this fall. it also said it's going to continue its free fries friday promotion with purchases through its mobile app. shares of the golden arches have done much better, especially since they unveiled this value meet. let's look at unity software. those shares are looking much

better, up 10.5%, and here's the news. the video game software company announced it is scrapping run time fees for games. that's great, right? but then they also said they're going to be increase subscription -- increasing subscription prices on some memberships. the backbone of pokemon go is returning back to its existing seat-based subscription model for all gaming customers and will only increase prices for unity the i pro and sewer price subs. and so people -- enterprise subs. the company's very much trying to turn things around after announcing back in september of last year that it would increase prices across the board. shareholders were really upset. the stock has dropped nearly 50% since 9/11. let's look at -- since then. shares of signet jewelers up 12.33%. the stock is on pace for the large percent increase since december of 2022 after the fine jewelry retailer forecast

current quarter sales above wall street's expectations is and reported a second quarter beat. but the ceo credits the strategy to expand its jewelry lineup to the increased customer demand and sales growth. signet forecasts current quarter sales between 1.35-1.38 billion. different story at siriusxm holdings. investors are tuning out of stock. it's down 8.5%. it's the home of howard stern's radio show. it's getting some pretty painful feedback from traders after it combined with its tracking stock liberty siriusxm holdings. the satellite radio group is now an independent public company. it also cut its full-year free cash flow to $1 billion from $1.22 billion and did a reverse 1 for 10 stock split. st -- split. it's interesting, because berkshire hathaway is now the top shareholder of siriusxm holdings owning 25 of the

company. not happy today, i bet. we shall see have you ever wanted an easy way to copy the traits of the likes of buffett and the most successful investors mt. world? now one company enables you to effortlessly mimic the portfolios of some of the rich and famous who have the best returns. so whose portfolio performed the best? nancy pelosi? bill ackman? or warren buffett? so of those three, you think about it. find out next. we're going to tell you when we introduce you to the harvard dropout who's wowing retail investors with his copy-trading platform called dub. it's a fox business exclusive. much more "countdown" on the way. don't move. ♪ ♪

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liz: okay, here's the answer. between a former house speaker, the greatest investor of all time and one of wall street's top hedge fund managers, who had the best performing portfolio of last year? according to 13f filings with the securities and exchange commission, last year california representative nancy pelosi and her husband had a return of 65.5% in their personal investment portfolio. pershing square hedge fund ceo bill ackman generated a 26.3 return, and the oracle of omaha, berkshire hathaway returned 15.8%. if your portfolio, did it lag

any one of these? there is now a way to ride the coattails of some of the most successful investors in the world. dub is a trading platform that literally copies the investments made by legendary investors by following regulatory filings in realtime. the customers give dub money to invest, and then you choose which portfolio, whose you want to mirror. they have a whole bunch of them. and then dub, in realtime, makes the exact investments famous investors make. dub is the brain child of stephen wang. he is here in a fox business exclusive. we just sketched out the basics, but can you give me the details of how you copy trades, again, in realtime? >> yeah, absolutely. liz, thank you so much for having me. at its core, dub is the first and only regulated copy-trading platform, and how it works is any user can open up a brokerage account with us just like fidelity or schwab, browse

portfolios and allocate my amount of money to automatically follow their trades same way you pick a stock, you can copy a portfolio. and the other side, if you're actually a great investor, you think you're talented, you can share your trades that you make on the platform for other people to copy. so it's almost like the very first social investing platform, very similar to to almost instagram for investing where you've got the top influencer investors and the regular investor who can let them do the hard work for them. liz: yes. we'll leave the whole question of whether politicians should be allowed to the invest for another day -- >> yeah. liz:s it is stunning, that a kind of return, that you can then follow. so the theory is that, for example, you let buffett if do the work of colming through all kinds of sec -- combing through all kinds of sec filingsing, he's the, expert if at that, not the average investor. he reads the shareholder reports and he makes the decision,

customers just piggyback? >> absolutely. and it's democratizing the ability for the average american to follow professional investors. today if you want to the invest in a hedge fund or get a professional investor like a wealth manager at a goldman saks, you immediate to be worth millions of dollars.. -- you need to be worth millions of dollars. i don't know if you know this, but 50% of americans don't even have a single dollar active in a stock, and they're missing out padding returns. and we've seen how inflation and wage stagnation has crushed the regular american people that that haven't been able the -- liz: or they've been to scared. there's a lot of fear, oh, do i buy this, do i not. and by looking at someone like a bill ackman, 3 and 5-year performance, he's done really, really, really well, so let him do the all of the work >> absolutely. liz: here's my question though, a lot of these big institutional investors have to file quarterly what they've done. that's for transparency. but by then, maybe you've missed the trade.

like, how do you do it in realtime? 13f filings have been to be filed, what, 45 days before the end of the quarter >> they do. what we've done and other traders on the platform, they build proprietary algorithms that automatically. stand scan the filings of the trades in the 13fs if automatically process them for realtime on the app. and head of investments that's been working at some of the temperature hedge funds of the world likely millenium and goldman zack -- liz: and you're registered with the sec >> yeah. we're the very first broker-dealer to offer copy trading. liz: before we go, two things. number one, whose portfolio is the most popular to follow and, number two, how about your customer base? how many people are doing this? and it does cost $99.99 a month, right -- 9.99. >> right now it's nancy pelosi, millions of dollars following her, but so many traders you've probably never heard of, and they're putting up crazy numbers.

just last week we had our worst week in the stock market but we had traders who were up 10, 15%, former chief investment officers at multibillion hedge funds and celebrity investors on axe. it goes back -- on x. that's professionals in a single tap. liz: and number of customers? >> we just crossed 200,000 downloads, and we're almost doubling every single month in growth right now. so it's been an absolute incredible journey, and we're at the precipice of bringing a retail investor where it's no longer about picking stocks, but about cop inning other people and bring -- copying other people. liz: again, avoiding that fear of should i? i don't know enough ant this, i have my regular job. steven, pretty good for a harvard dropout. we'll continue to watch it. >> thank you so much, liz. liz: great to have you. the company and the app is called dub. he may be about to fight mike tyson, but boxer and social media star jake paul is taking on a handful of power punchers

in his latest venture. he's the cofounder of gaming app bettor, and he and his partner are here next to tell us how they plan to knock out fan kinks -- draftkings, fanduel and the rest. find out where kamala harris and donald trump stand in the race to the white house. more "countdown" straight ahead. ♪ ♪ it's payback time. all these years, you've worked hard.

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have moved north carolina into the toss-up category after a harris took a 3-point lead in two recent polls. and georgia also now a toss-up with harris and trump splitting four recent polls. president joe biden won the state many 2020. the power rankings currently forecast harris in the electoral college lead 241-32 the 19 -- 219 with 78 votes up for grabs. it is the first time harris has led trump since she entered the race. remember, it takes 270 electoral college votes to win, so it's still anyone's game. for more on the candidates on the campaign trail, we take it live to fox news senior white house correspondent peter doocy in the queen city of charlotte. peter. >> reporter: and, liz, they've got the seal on the vice president's lectern which means that she is going to come out it seem like on time, within the next five minutes or so. and we have some breaking news. the harris team tolds us

yesterday -- told us yesterday they were open to the third debate, the second with trump. trump says it's not going to happen. there's a pretty lengthy truth social post out there, but the end of it says she was a no-show at the fox debate and refused toot nbc and cbs, kamala should focus on what she should have done during the last almost 04-year period, there will be no third debate. "the new york times" is reporting this afternoon that harris adviser see the horse race as actually unchanged after their first debate on tuesday, first and lasting or apparently. but the campaign still wants to keep the good vibes, they feel, after that going with a new ad that has flipped art -- part of the faceoff. >> we're a failing nation, a nation that is dying. we're a nation that's in serious decline. >> what i do offer is a new generation of leadership for our country. >> reporter: and to her point there, above the stage there is a huge banner that says a if new way forward which, obvious, is

kind of disconnected to the fact that she is the current vice president, has been for the that's three and a half years. this is the bo jangles coliseum on the outskirts of charlotte. elvis performed here at one point, but every noticed with the playlist going, much more likely to hear a taylor swift song here at a harris rally this week than the king. liz. liz: good stuff. thank you, peter. [laughter] we are going to watch it through your eyes. thank you for bringing us the breaking news and the very latest. while voters are betting on who's going the win the white house, football fans are making all sorts of bets this afternoon because we are just 4 hours and 36 minutes away from kicking off the second week of the mfl season. it features a tuition thal matchup between the buffalo bills and the miami dolphins, and the league is hoping to replicate a record-setting week for tv ratings. according to new numbers from the league and nielsen, the nfl averaged 2 is million -- 21 million viewers or per game last week. that is the best viewership ever

for a week one slate. now, while those ratings were fueled with great games like the chiefs versus the ravens and tom brady's first forecast, some of those viewers were watching to see if their sports bets were winners. one company looking to completely disrupt the space and make sports betting much easier for the average sports fan, joining us now are bettor cofunder s jake paul and joey levy who is also the company's ceo. welsh i don't know, what did you guys see at your platform b everything tr, last week as -- betr, as nfl season kicked off? jake, tell me. >> we just saw what we've always believed in from the start which is we're capturing a younger demographic. i think joey and i are the youngest founders of a sports gaming company in the united states, and so we use our media, our content and our voice to, or you know, get more people into our app. and we had an amazing week one.

i believe we're up 6-8 -- 7-800% since last year, and so the company's going really, really well. like you said, the numbers are huge in week one. it feels like the nfl is growing and users are flocking more towards the fantasy side of things, and that's where our product really gives people a more fun, dynamic and easier way to get into this whole ecosystem. and i personally love it more than traditional sports betting, but we do have a traditional sportsbook in some states. but the betr picks side of things seems to be what everyone loves and what i love. liz: i'm hearing you say, jake, that you're broadening this to people who might get a little confused when they look on some of the other platforms and see things like money line and spread. we should just show our viewers how betr is a little bit different here. instead, you're more straight forward, you use words like winner and to win or lose by.

what feedback are you getting, jake, on that? >> it's just simplifying and it's bringing in an i audience and, you know, in the mid 20s, early 30s who, you know, traditionally before looking at the sportsbook, it looked like an excel sheet. it was really hard to understand. people didn't under the -- understand the over, the under, -250, i still don't really get it, and that's just the new generation. [laughter] since joey and i met day winger we were, like, we're going to simplify this experience and make it easy for people to understand and easier user interface. and within our company we have the technology and the engineers. so we're all under one roof which isn't typically normal, so we can make changes within the app and the interface really quickly whereas other platforms outsource their technologies, and that's what a really is one

thing that differentiates us and why our user interface is something that our customers are loving. liz: joey, the customers may love it, but if you really look at the competition and the numbers right now, it is a tough mountain to climb for you guys, is it not, joe by? i mean, you got fanduel the big winner at the moment, 42 of the market share, then draftkings has 34. all the way at the bottom, bet mgm with 7% and you guys too. how do you feel -- what is your secret weapon beyond the simplicity of it? you've got to tell mow -- to tell me, is it jake's 18 million social media followers? is it something else? >> yeah. i mean, i think jake really touched the upon a lot of the key points very well which is we're really focused on this simple and more intuitive product experience that's built for not just existing sports bettors who understand what the -175 money lines mean, but

they -- the casual fan base that has never bet on sports before that just can pick up the product and intuitively interact with it, this is really what we're going for at a betr. while fan buell and -- fanduel and draftkings are the duopoly in the marketplace today to, they have a combined 7 million users or so yet they're in front of 100 million gambling-age sports fans. so we think there's a really significant incremental tam opportunity by addressing the market albeit some of these users may be somewhat lower value users, but there's a lot more of them, and they're really doing this mostly for entertainment value. they're looking to potentially turn $1 into $1,000 which, as jake pointed out, is an experience that's currently available on betr picks which is our fantasy sports app that is now live in 28 states plus d.c. right now. liz: i tell you, in this day and age, you can be small but people

these days, at least you young u.n.s, love to have that social aspect to it. you can get on all kinds of sports. i've got to ask you, jake, ahead of the november bout with mike tyson -- [laughter] will people be able to bet on your fight? >> not through our9 platform if -- liz: okay. >> just because of the laws around all of that. but, man, i'm going to knock out mike tyson, so if people want to bet, that's the safest bet that the you should go for. liz: what makes you so sure you're going to do that, jake? >> i'm just confident in my ability, you know? aye been training, i've been active, my power, and i know mike tyson is going to be the toughest opponent i've had yet. his one. punch power, he's an animal, you know, the baddest man on the planet, but that's what they say about all my opponents. the last guy was the king of violence, and i star the. ed him in the firsting ed -- second round, putting him down multiple times. so a lot of these people have these reputations, but i'm the

new king of the block, and i talk a lot of smack, but i always back it up. and november 15th is going to be the same thing. you're going to watch me knock out one of the greatest to ever do it whether you like it or not. he wants to fight me and so it's an honor for me to be there, be in there with a legend, but i have to do what i do best, and that's put people to sleep. [laughter] liz: well, you haven't put our viewers or to sleep. after the fight we want you back on the show, okay? why don't i say this, after you win. we'll see. great to have you both, and we're watching the developments with betr. jake and joey, thank you. congratulations on the developments. >> thank you, liz. download betr for thursday night football. let's go. [applause] >> appreciate you having us on, thank you. liz: anytime. the crypto verse now has spot etfs, you know that, bitcoin and etherium. there's a new one next on the blockchain's ledger. charlie breaks it next on "the claman countdown." ♪ ♪

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♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. liz: let's take a look at a rippl xrb, grey scale announced the launch of its new closed-in

fund that allows ai credited investors direct exposure to the asset. taking this as a sign gray scale might eventually launch its own xrp etf. charlie, that would take a lot of regulatory approval. >> we should point out that my producer, ellie, broke the story this morning, and it has moved xrp a lot higher, kind of confirming what the community was hoping f an etf, although we're not quite there yet. it's a lighter regulatory touch, it's more for accredited investors. to make this retail is going to take a heavier lift, and when you apply for retail, you have to go through rigorous sec examination and application process like blackrock did with its bitcoin etf that we covered back in the day. so we're not quite there yet. and the courts are still muddied over -- or muddled over the status of, and rp.

is it a security that was failed to be registered, or is it a currency or commodity like etherium and bitcoin. courts are sort of up in the air. xrp or ripple when they were sue ised over that issuing xr, p to build out the platform, they got a mixed ruling from the federal judge. part of it was security, part of it wasn't. the, sec's appealing it, wants the make xrp a security -- it's illegal, essentially. this won't be the sort of etf that the retail can buy on the spot basis, open-ended regular etf fund. so that's where we are with that. we're still steps away from that. the courts will have to the, i think, based on people i speak to, will have the rule before we go for that full month ty xr -- monty the xrp etf. the second part is a house investigation which i find fascinating into gary gensler: and you know, listen, you might

think this is the usual pile on because the republicans hate gensler. gensler's famously progressive, you know, elizabeth warren acolyte. but it's interesting, jim jordan, james comer, patrick mchenry, they're launching this because virtu ceo, a guy i know very well, f oia'd some documents from the sec after the sec -- liz: freedom of information -- >> yeah. and came up with this interesting e-mail, gensler to the a private sector person, they were explaining -- he was applying for a job at the s exc. the private sector said i'm the right ideological, i'm paraphrasing a little bit here, i'm the right ideological mix for you and your sec. and what the republicans are saying is, hey, this is not the way the sec's supposed to work, you know, hiring people based on

ideological -- liz: political leanings. >> yes. ideological grounds. they're supposed to get the best people. it's allegedly an independent agency, bipartisan at least going back -- i've been covering the sec for years, i know democrats that were in that job, famously bipartisan, both parties, friends with phil graham, you name it. so we do have a statement from cifu which i want to read and it kind of speaks to some of the stuff. sadly, i've repeatedly said that gensler's agenda is more motivated by politics than by a genuine desire to improve market, and the result is of our poia litigation uncovered that. again, gensler has pushed the envelope, according to a lot of people, on the ideological grounds of he's basically embraced progressive policies like climate disclosure, forcing that on companies. obviously, he's heavily anti-crypto, he's heavily

enforcement. and this, his critics will say, is another example that he's populating an allegedly independent agency with, you know, progressive cronies. so we to do not have a comment from the sec. back to you, liz. liz: charlie, thank you. you sap inter-day in the price. >> one thing for ellie, she's the ax of crypto. there's no better crypto reporter. she breaks almost every story. liz: everyone has to watch fox business. charlie, thank you. crude, located crude. gushing today and intermediate closing up 2.5% up to $69 a barrel in the after market up 2.8% to 69.23 so oil prices are surging to a one week high as hurricane francine slammed the gulf of mexico production and 1.5 million barrels of gulf output was disrupted by the storm.

pipeline operator enterprise products partner said its assets in south louisiana did not sustain damage but there are some power issues. we bring up that company because it happens to be our count down closer's pick today. chairman of sanders, morris, harris and nearly $5 billion in assets under management, and that's not the only reason that you like it because it's in this sector, but it's got a very tasty yield, does it not, george? gaspier surprise products is the queen of partnerships and it's energy, participant and mainly a transporter and storer of yield and gas. it's raised its dividend every year and raised for 26 years in a row. it's got a unique characteristic in its contracts where if the cost of living index goes up,

enterprise products gets paid more by the producers to transport its products. high wield that's well covered and having to increase substantially year after year after year. it's part of the money and it's a great enterprise and very well managed. liz: it's about a 7% yield is that correct? >> 7.2% right now. liz. 7.2% and investors looking for yield in owl kind of places and are you looking at treasuries right now and the fed is most likely to cut interest rates next week by a quarter of a percent. what part of the yield curve is the appropriate place with the mix of bonds and stocks? stocks >> i

think people 10 career and 20 year and doesn't have reinvestment risk and money market funds and things of the very short term and nature have and in a year and six months in a month and you want to liquidate and reinvest the money and a short term bill pays off and you want to reinvest the money and not even the place to b. five year treasury and most of the characteristics and the good side on the ten year and less volatility, less risk and it's a very smart place to put money for now, liz. liz: yielding about 3.475% for that five year. crypto, charlie just told us a story about the potential for etf focusing on xrp. we now have ether and bitcoin. what about you, george? do you like crypto?

>> as a place for a person's money for the last two or three years and a good guardrail against currency and the basement and the federal deficit can't continue to grow at this rate without the dollar being de-valid and it's got a deal deal of speculative appeal for people like you and even people like me and place f speculator putting money and the governmental value getting the basement i think. it's very valuable. liz: george, great to have you, thank you. stocks are not down today. look at dow up 231 points, green on the screen for the major averages and tomorrow, parallel groups billionaire david rubinstein. larry: h