david kelly of jp morgan. jp morgan will kick things off tuesday morning i believe. we get cpi data. we will get commentary from the c suite that will be a different tone. tom: radically different and what is important is the tea leaves we have seen in the last two weeks looks forward to huge changes, a huge change in tone i should say. jon: every day to point -- data point. every single one speaks to the same thing, cost pressure, labor pressure. i wonder what the c suite has to say on that. romaine: and it gets to the idea of whether you talk about this as the growth story or more is just growing pains. this economy is healthy but does need to work through the supply issues in every aspect. jon: we talk about the pandemic next with andrew pekosz with johns hopkins school of public health. i'm told maybe a pfizer booster shot against the delta very it is in the making is that right? tom: it is in the mix and we are waiting on younger children. will there be a vaccination below 12? the numbers are fascinating.

liz: david kelly. okay, you guys, does this sound right?new mexico. coming up, why hollywood is actually now heading southeast to new mexico and why the land of enchantment is reaping the benefits of tinseltown's exodus from the golden state. we're going to take you live to albuquerque for that story in just moments. closing bell ringing in 38 minutes. we do have the nasdaq, the s&p and the dow all moving higher. ♪ ♪ ♪ ♪ with cutting-edge tech, world-class interiors, and peerless design... their only competition is each other. the incomparable mercedes-benz suvs. extraordinary runs in the family. visit your local mercedes-benz dealer today for exceptional lease and financing offers. ♪ when i was young ♪ no-no-no-no-no please please no. ♪ i never needed anyone. ♪ front desk. yes, hello... i'm so... please hold. ♪ those days are done. ♪ i got you. ♪ all by yourself. ♪ go with us and find millions of flexible options. all in our app. expedia. it matters who you travel with. ♪ liz: lionsgate entertainment share ises getting slammed at this hour

the former chief, david kelly, will break this all down. we'll be back in 60 seconds.'ll be back in 60 seconds. ♪ yum ♪ ♪ yum yum (clap, clap) yum yum (clap) yum yum ♪ tide pods ultra oxi one ups the cleaning power of liquid. ♪ yum ♪ can it one up whatever they're doing? for sure. seriously? one up the power of liquid, one up the toughest stains. any further questions? uh uh! one up the power of liquid with tide pods ultra oxi. limu emu... and doug. so then i said to him, you oughta customize your car insurance with liberty mutual, so you only pay for what you need. oh um, doug can we talk about something other than work, it's the weekend. yeah, yeah. [ squawk ] hot dog or... chicken? [ squawk ] only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ >>> we have david kelly, the chief u.s. attorney of new york. he's also my former boss. thank you for joining us on a big news night. >> happy to be here with you. >> give it to me straight, this is debated throughout the day on this program. i remind viewers you have dealt with this kind of stuff. this type of

david kelly, let me give with you. just give me your reaction to the number and what you're seeing in the markets right now and whether that's sort of accords with what you would have expected >> all right, it's a tale of two surveys. what the household survey said with actually a decline in employment of 18,000, the household survey an increase of 850,000 the payroll survey, i don't think i've ever seen a difference as big as that. there was a lot of confusion in the numbers. what i still see is basically what a lot of you have been talking about which is there is tremendous demand for labor out there, and it's hard to hire workers. if you look at the wage growth numbers, we look back over the last two years rather than just the last year. that way you get rid of some of the pandemic distortions hon that basis average hourly earnings for production workers have been rising at a 4.6% annualized rate over the last two years and that's the strongest since 1983 there's a tremendous demand for labor here i think those wage

you're saying muted picture for growth, we just had david kelly yesterday from jpmorgan saying he is expecting 10% gdp percent quarter. what are you talking about? i mean, we're looking at strong growth, are we not? >> that, that is what david kelly is saying and what we're seeing from the bond market at least is more muted growth. we've been saying the s&p is not necessarily gdp. we may have pulled forward a lot of this forward growth expectation talking about a trailing one-year return in 30% range well beyond long-term historical averages and protecting client capital, we start to get a little concerned about that. liz: chris, you watch the bond market, you watch the stock market. you're looking at puts calls for all kinds of sectors. what are you seeing as far as the flows are concerned? >> well, i would say this, i mean, the time to prepare for the rainstorm is when there's no clouds in the sky. so this is when you want to be -- liz: right. >> last week we had a 4% break, 4% break you'd have thought, you know, we were entering into the first week of armageddon. so you've got to

our panel to prediscuss what the fed might do and that's jim caron of morgan stanley, jpmorgan's david kellythe fed to say or do today, alicia? >> so i don't think there will be as many fireworks this time as there was last time because last time was really the fed putting in a hawkish dtilt which had been successful. we expect the fed to discuss the fact that they've talked about the taper, so they're talking about talking about. the decision probably doesn't come until jackson hole in september and probably not until the end of the year and acknowledgement the u.s. is making progress with growth and the delta variant. all less exciting than last time >> jim and then david, we have about a minute before the decision will come out and we'll get word jim, let me ask you, does the rise of the delta variant make the fed's taper talk more or less likely, with more or fewer teeth in it? >> it makes it less likely but it makes it less likely because it creates uncertainty around baseline expectations. i think the fed does need to speak about tapering, but i don't think they will make any final dec

liz: but scott, last friday, we had david kelly, one of the best economists over at jpmorgan. he said 10% gdp for the quarter. that's the print he is looking at, so you know, you got dualing choices here, and we know what the economy is doing. it is roaring ahead, is it not? >> it absolutely is. they can print 8%, they can print 10%. the way the market is trading, it's going to take it in stride in my opinion. again, for the short run, for this week next week, it is those four heavyweights maybe a couple other names that sarge had mentioned as well. going forward, yes. interest rate policy, infrastructure, gdp economic reports, absolutely. that's what's going to drive us to the rest of the third and fourth quarter. for the immediate term especially for that trader, those are the names you gotta watch. liz: sarge, what do you hate here? i always like to hear that. go ahead. >> what do i hate? well, i hate actually david kelly's call because i am a professional economist and i've been writing that the economy is past peak for probably over a month now, so, i welcome goldman sach

david kelly and i are in totally agreement here talk to any big pension fund if they needed, in the old days when rates used to be at a normal level on the long end, they needed to buy so much paper to take care of their long-term liabilities. now they have to buy twice as many, three times as many. there is an impetus for buying that's coming in and it's not going to go away with respect to buying, this morning ken langone and others were talking about 80% of inflation are going to go away yes, i could agree with that i think it's the other 20% that will hurt. my final thought i couldn't agree more the way steve presents how we target inflation. if it jumps, the rate of change goes into the numbers. if it sticks, it flat lines at zero the fed will say it's victorious how will that affect the average middle-class family. might be victory for the fed if they stick higher it will not be a victory for the middle class. >> steve, why don't you react to that once prices do go up and if they stick, even if they don't go up more and inflation is reported as zero or 0.2%, that doesn't erase the

david kelly of jp morgan joining us as well. your equity market not doing much today.oints on the s&p 500. advancing a little more than .1%. the dollar breaks down a little bit. back down through 92. on radio and tv. i will leave the space for you. are you good? tom: didi. jonathan: you enjoy your time off. i will see you monday. lee-ann: the $550 billion infrastructure passage has cleared its first area of capitol hill. the senate voted to begin consideration of the bill. 17 republicans joined all democrats in voting for the measure. lawmakers expect the final passage to last into the weekend and even next week. the new chair of the federal trade commission is bowing to return the agencies trust busting roots. she told reporters she intends to use the fcc's -- the ftc's full arsenal to take on companies that prevent competition. she is not afraid to take on risky cases officials have shied away from in the past. china may be preparing for a period of prolonged tension with washington. beijing's new ambassador is a veteran diplomat known for pushing back against wester

kelli's family. his name was david marshburn. her case since the day she disappeared. >> she was in the military. you don't just up and disappear. she was a young female. that's just not right. he was a bounty hunter and special investigator. his job? to find people, dead or alive. remember that tv interview nick holbert did? marshburn saw it, too. >> when i'm watching him, it was like, dude, i can tell you're lying. he did it. he knows where she's at. he killed her. >> and marshburn was also convinced he could find kelli bordeaux. operating on his own time and own dime, marshburn started carefully researching the details of kelli's disappearance. >> i don't know what got into me to do it, i just did it. >> to bring some answers to her family. >> yeah. i loved doing it. i loved helping the family out. >> reporter: marshburn was convinced holbert had buried kelli's body in the thick brush near fayetteville. >> how daunting of a task was it? >> it's like throwing a rock a bit bigger than this, throwing it out here and saying, you go

you see three divisions, john buford, david greg, alfred tookton, they will cross at different forwards. beverly ford, kelly's forward. where is stewart supposedly? culpepper courthouse. he's closer to brandy station, stretched all over. there is not enough forage. he's spreading his troops around and they are going to march this way and going to entrap stuart between the two wings. that make sense? it is a surprise in the morning of the ninth when davis's brigade splash of the cross at beverly ford, and finds out he is up against part of the sixth virginia to push him back. look at this. look at 15 cannons in between a picket line and the rest of jones's brigade. that is not where you put artillery. anyway, the equal weighting is going to be around st. james church and the counterattack as jones is going to stabilize his line, and the second front is going to open up. john buford is involved in all this early action. a second front, on two fronts but here's the interesting story and here is the missed opportunity, those that are up, here comes kelly's forward and the other two cavalry divisions. to tell davi

kelly. you're watching monday in parliament with me, david cornock. life, you can catch up via the bbc iplayer. the home secretary has robustly defended her plans to overhaul the asylum system in a bid to deter migrants crossing the english channel. priti patel was speaking at the start of two days of debate on the the nationality and borders bill which will make it a criminal offence to knowingly arrive in the uk without permission. the bill would also introduce a maximum life sentence for those convicted of people smuggling and give ministers the power to allow asylum claims to be processed outside the uk. the british people have had enough of open borders and uncontrolled immigration. enough of a failed asylum system that costs the taxpayer over £1 billion a year. enough of dinghies arriving illegally on our shores directed by organised crime gangs. enough of people drowning on these dangerous, illegal and unnecessary journeys. enough of people being trafficked and sold into modern slavery. the home secretary said the system was being abused and ac

kelly. joining us now is cnn political director david chalian. wow, question mark? on both sides. yes, wow, question mark, that donald trump -- i know he denies that this conversation ever took place, but if you take bender's reporting at face value, donald trump doesn't have the political antenna to understand what john kelly, general kelly is trying to explain, you just simply can't say something positive like that about a dolpdolf hitl. words have power, john. this is not disconnected from members of congress using hitler comparisons or nazi comparisons to make political points, which is just absurd. political lesson number one is don't make any comparisons to hitler or to nazism because there are no comparisons. and yet here donald trump is trying to find some positive light in this, you know, evil piece of world history. >> and marjorie taylor greene doing it once again today talking about brown shirts even after she went to the holocaust museum. there is a higher level of macro thing here. if you think about the type of politics that donald trump and his suppo

cnn's calls to general john kelly and president trump have not been returned. cnn political director davidffensive comments by trump, some on camera and some via private descriptions like this one, this one stands out. i mean it's just incredible. what are your thoughts when you hear this? >> well, i mean, it's a perverted view of history, obviously, from donald trump. it's more powerful than that. again, as you noted, bender reports trump denies this conversation actually took place in the book. but if you take the reporting on its face value, jim, what you see here is a president who either doesn't believe in the power of his words -- i doubt that very highly considering his political success. so, is actually trying to use words like this, i think it shows you his mentality, what he traffics in, the kind of information that's coming in to him. and i can't disconnect that trump frame of mind and mentality from what we see from the likes of marjorie taylor greene today, talking about the vaccine and saying we're not going to have your sort of science brown shirts making a nazi reference in

kelly >> right now. >>> welcome to "closing bell." the nasdaq is the big underperformer today. >> i'm david faber in for wilfred frost.ardest. there we go. alab

maria: maglan capital president and pro chain capital president david towel joins me now to talk about that. also joining me this morning, kellyance and mark tepper. great to see everybody this morning. thank you so much for being here. david, let me kick things off with you on inflation. i know you are expected oil prices to go much higher. your thoughts on what you're hearing with regard to inflation being temporary. >> yeah. i absolutely disagree. if you listen to earnings calls, all sorts of manufacturers, large public manufacturers, they do not see this as temporary. i'm sorry. i think government is hoping for it, policy makers are hoping for it, central banks are hoping for it, but i don't see it. i think it's here to stay. maria: so we're looking at oil prices at $71.12 a barrel, up better than 1%. futures are higher this morning. but of course we've got that inflation scare. what are the implications of this, david? you say it's not temporary. how does this play out? >> well, let's just talk about oil for a second, frankly, which i think is somewhat on a boost beyond inflation because of the supply/demand imbalance tha

kelly come up. >> thank you in hi everybody. i'm really happy to be in conversation it with sarah and david. i'm here from chicago. and it is nice to be virtually here and thanks to kayla and for your work putting this together. i really appreciated predict. [inaudible]. i will send up my powerpoint here. okay, the role in this in the conquest and celibate may be well known to you predict ... ...'s >> the relationship with colonialism why is no secret either to pick just two examples colonists acknowledge it factored significantly by spanish forces you would know it today is mexico city and the english common is settled in 1620 on the homelands they claimed were empty. this is despite the fact that nearly four years earlier english explorer john smith depicted a busy populist place and advice columnist again settlement there. the colonial narrative the records of the diseases that affected the indigenous nation and those among others of scholarly and popular histories. in 2020 has put many text back more visit on - - visibly in the public eye in these colonial histories to create narratives of absence and scarcity

kelly >> right now. >>> welcome to "closing bell." the nasdaq is the big underperformer today. >> i'm david faber in for wilfred frost. tech is getting hit the hardest. there we go. alphabet, microsoft, all down at least 1%, this ahead of earnings we're going to be getting them after the bell intel and salesforce are the biggest drag and worry about china's crackdown continue to be felt in the market today, particularly, of course, the fx side june durable goods were out this morning. they also came in below estimates. >> we are one hour away from a parade of earning after the bell we have results, you picked a good day to join us. >> i did very exciting. >> we have an all-star panel for instant reaction and break down the numbers. plus, we will get records from mondaleze. mike santoli and frfrank hollan with us. >> a comeback started around 2:00 p.m. eastern time, really a tenacious bid in this market it was led by the nasdaq lower we actually have come back it did kind of go back and kind of check the area of the chart that preceded this decline we got into last monday, so it still looks a bit unsteady, still some s

kelly and ryan!" today, from the movie "four good days," mila kunis. plus, david oyelowo.ten: 02:00 a.m.? >> kelly:is

when giuliani came in as mayor, kelly and wilson's broken windows theories, theories which i practiced for 20 years with great success. davids in new york where a turnstile jumper, after jumping the turnstile, weren't out and beat a 68-year-old man on the street into unconsciousness. took everything that the guy had. that was a perfect example if he had been stopped at the turnstile he would not have been free to beat up the 68-year-old man almost to death? >> irony of that the beginning of the new york crime reduction miracle was 1990 when the transit police chief in the subways began enforcing strict enforcement of fare evasion. we reduced it 250,000 incidents a day, documented incidents, such a level we stopped counting it. it cost more to count it than we were basically seeing incidents. so the idea of broken windows, it works. the challenge is to do it appropriately, appropriate amounts where necessary and this idea that you can do away with it, totally disregard it, we're beginning to see the effects of that. the beginning of my book i talk about those who don't know the history doomed to repeat it. most of our progre