lauren simonetti. closing bell. we're four minutes away.p is on pace for a fourth day of gains out of the last five. the nasdaq is on pace for the first gain in three days. the dow just fumbled all of the gains. so geeked up with that. the dow is down nine points. have you guys looked at big u.s. banks? some of them outperformed rather beautifully. morgan stanley, goldman sachs, citi, they're all up nearly 20% since the end of june beating the s&p 500's 13% gain. today's "countdown" closer, they had a nice run. how about this bank he has in mind that could make your portfolio greener than ever? to tell us the stock he loves right now, by biondo investment visor, joseph biondo. give us the name. it is not a huge one, is it? >> it's not. silicon valley bank. silicon valley bank is essentially the invest bank for the innovation economy. the company has front row seat to all startup, early stage companies in the technology and life sciences industry so they're very well-positioned for what we think are very, great future growth companies that a

lauren simonetti is here and joe concha. first to aishah hasnie with the very latest that just developed this afternoon on the potential passive of this bill. >> senate democrats have hit the road. they're heading home to town this as a big win for democrats. some of them are getting hit with backlash of these decisions. fallout that they're facing over the deal. let's take a look at the package. it includes $80 billion to expand irs tax enforcement. that would make the agency bigger than the state department, border patrol and fbi combined. they'll extend affordable care act subsidies and cap insulin. senator sinema convinced her colleagues to ditch any efforts to include private equity firms in a new 15% minimum tax rate on billion dollar companies and also to not close that interest tax loop hole. prossives and critics are calling this move an affront to those that pay their taxes providing tax breaks for wealthy money managers. >> find someone who loves you the way kyrsten sinema loves private venture and capitol. it's h

lauren simonetti in for liz claman. lauren: always wanted to be a singer but i'm tone deaf. charles, good to see you. the market has not been able to claw it is way out of the hole left by jackson hole after the speech friday leading to a 1,000 point dow sell off and all four averages still in the red with the dow and the s&p 500 just barely lower. it could be a nail biter this final hour as it normally .s check out the nasdaq, it is down half of one percent and the russell 2,000 down about half of one percent. friday's selloff hit many portfolios hard with five stocks in the 500 that are in the s&p posting gains and that shows you the scope of the selling and there was nowhere to hide. that downward trend continuing for the rate sensitive sectors like tech, which is dragging down the entire nasdaq today but treasuries are thriving and this is one of the reasons why tech is down. the ten year seeing its largest four-week gain since june. it's at 3.1% as aspeak and check out the -- i speak and check out the two year, hitting the highest since late 2007 as the short end of the

lauren simonetti, good to see. eparing for a downturn. carnes food is dropping some brands and carrying lower priced products. scott carnes joins me now. you have the pulse what shoppers are feeling right now. i imagine there is some difficulty. we've been reading about the trends, the store, the generic brands are more popular right now. people are cutting back, for example, on their higher cuts of protein, right? the expensive beef cuts. they're switching to chicken. what are you seeing in your field and your day-to-day? >> well of course the consumer has traded down a lot. they are definitely going to the store brands which in some product there is absolutely no difference. others there may be a flavor difference but if you're talking a bag of sugar to a bag of sugar, that is a good win for the customer to save money. jackie: do you hear from people shopping in the stores complaints, difficulties making ends meet or having to put things back, having to sort of look at the grocery list and reprioritize? >> every d

i'm going to make room for lauren simonetti filling in for liz claman. you've got a big task ahead of you. this last hour of trading, buckle up. liz: to put it lightly, i know, charles. charles have, have a great peeked. you deserve it. charles: thank you. lauren: all three major averages down and down big. this is a darkening shade of red. we're at session lows as i speak with the dow 850 points and nasdaq 3.3%. it's a summer friday, it's august but volume is not light. all this after federal reserve chair jay powell predicted from out west that had it'll not only take time but bring pain so the damage is pretty ugly. at 10:00 eastern, way back this morning, a hawk took -- not just any took. like the hawk of all hawks took the stage at jackson hole, and he made it clear that the federal reserve would continue its aggressive fight ernst inflation and if it did not, the consequences would be far far than "unfortunate costs of reducing inflation". >> the historical record cautions against prematurely loosening policy. the individual projections from the ju

lauren simonetti has her own, and she fills in for liz claman. down 365 points, it was down 450. look, you can blame the deluge of data, particularly the jolts jobs report, rate hike jitters. dow is down 1.1%, broader market's down 1.3%, and the tech-heavy nasdaq down 1.5%, again, all three down three days in a row x. he were actually all up in the green when the market opened. and then the turn. it happened at 10

lauren simonetti has her own, and she fills in for liz claman. lauren: thanks, charles, good to see you. stocks are sinking for the third day in a row, the dow is down 365 points, it was down 450. look, you can blame the deluge of data, particularly the jolts jobs report, rate hike jitters. dow is down 1.1%, broader market's down 1.3%, and the tech-heavy nasdaq down 1.5%, again, all three down three days in a row x. he were actually all up in the green when the market opened. and then the turn. it happened at 10 a.m., that's when the nose dive began exactly when the jolts report hit the tape, and, well, it hit pretty hard. job openings unexpectedly rose in july. there are more than 11.2 million jobs open. that is double the number of available workers. then we got the consumer confidence number for august, a lot stronger than expected. it was the first time the index rose in four months as more people said, hey, we'll take a vacation, we'll buy big, expensive items mt. next six months, and investors got the latest case shiller reading, rates risin

lauren simonetti in for liz claman. lauren: always wanted to be a singer but i'm tone deaf. speech friday leading to a 1,000 point dow sell off and all four averages still in the red with the dow and the s&p 500 just barely lower. it could be a nail biter this final hour as it normally .s check out the nasdaq, it is down half of on

first, to lauren simonetti who is live outside trump tower here in new york city with the very latest in this case. hi, learn. >> hi, martha. lawmakers on both sides of the aisle are calling on attorney general merrick garland to give real reasons for the raid. the fbi and 30 agents spent over nine hours on monday at former president donald trump's primary residence in florida, mar-a-largo, where they reportedly seized 12 boxes of documents. here's a timeline of how all this went down. in late 2021, the national archives had some questions about potentially missing classified information. so january of this year, mr. trump handed them 15 boxes. some of the items reported in that first batch included a letter from president obama and a cocktail napkin. both sides kept talking through spring until negotiations broke down this summer. why? "the washington post" says federal authorities are concerned trump and his aides withheld key documents. lawmakers continue to demand answers from the doj. >> what you're seeing today is a united front behind justice. we want fairness and an equal appl

i'm going to make room for lauren simonetti filling in for liz claman.ghtly, i know, charles. charles have, have a great peeked. you deserve it. charles: thank you. lauren: all three major averages down and down big. this is a darkening shade of red. we're at session lows as i

ashley: amen to that lauren simonetti. let's get the speech over and done with. eryone is looking in the tea leaves and says if he says more instead of somewhat all bets are off. lauren: he can't say anything because before they meet. it's data dependent. ashley: he says a lot but he says nothing but we will read between the lines. let's bring in kenny polcari. kenny you're a great person to talk about this. is mr. powell going to remain hawkish or will he, you know, to lauren's point are we going to see a change in tone. what do you say? >> i don't think he can do anything other than be hawkish, right? i think, i don't think, i don't see how he could change the tone considering over the last week and a half we've heard every fed head that's been speaking talk about the need for aggressive, the need to stay vigilant, the need to be on top of it, so for jay powell to come out and suddenly sit in the fence and lean to the doveish side is complete contrast to what we heard and do nothing but create more chaos and confusion in the market so i see him walking the line

lauren simonetti looking at movers and one of the movers is ford motor company. worldwide mostly white collar and contractual jobs so these are not factory floor workers. these are your white collar workers because they are trying to cut costs to push out more electronic vehicles. electric vehicles. that was interesting. stuart: as opposed to electric. lauren: yes where did i get that from? stuart: vf corporation what do they do? lauren: they are a retailer, textiles, do business in china. cut to market performance at cohen & company to the risks to the company's guidance so they cut their outlook and now the stock is down 4%. stuart: this company has a cute name. the wage increases corporation. lauren: uh-huh. stuart: about dogs and pet services. that's the story? lauren: it was 5 t a second ago as i was speaking so it's volatile now it's up 48%. here is the news. acme capital, vc company reports a 14% passive stake in w ag group. wag just last week reported 250 % revenue growth. people care about their pets, so -- stuart: pet ownership went up during the pandemi

lauren simila simonetti in for . lauren: hey, it's me. the july meeting is back dated and gave us just as little guidance as jerome powell did as to what's to come in september when they meet again. the dow is down 102 points for some perspective on how choppy this has been, the dow is up 9 pints a half hour ago and down 323. the s&p 500 down about one-half a percent and nasdaq about 2% and russell getting the brunt of the selling today. in the july meeting, fed officials agree the size of the september interest rate hike hinges on the data and they're data dependent with some fed officials saying rates need to stay restrictive to control inflation. there was no clarity on how restrictive they'd be. right now the fed funds future markets is pricing in a 100% chance of at least 50 basis point hike in september with a 41% chance that the fed could go as high as 75, mind you that would be the third time in a row that the fed would hike 75 basis points. then we have retail sales and they seem to show that despite high inflation, consumers are

lauren similar simonetti in foz claman. lauren: thank you, charles. the fed heads wasted no time chimes in from outwest, james bull l administered saying -- bullard saying inflation will continue and many want to hear if from the fed chair himself and that comes at 10:00 a.m. eastern time when james powell speaks himself and he'll set the tone for the fed's next meeting in late september. look, if gdp is any indication, things might be looking a little bit better. second quarter growth, it's still contracted but much less than the data first showed. as you can see there falling 6% now but big name companies across sectors report earnings and making forecasts not optimistic. peloton, sales force, all cut estimates or give very tepid ones and less demand come in as consumers pull back amid high inflation and a slowing economy. between growth scares and earnings scares, will we see a dove or hawk take flight tomorrow? we ask our floor show traders, joe flynn and thomas hays. tom, let me begin with you. in the dove or hawk camp for mr? the market is up an

lauren similar simonetti in foz claman. lauren: thank you, charles. saying -- bullard saying inflation will continue and many want to hear if from the fed chair himself and that comes at 10:00 a.m. eastern time when james powell speaks himself and he'll set the tone for the fed's nex

lauren simila simonetti in for . lauren: hey, it's me. to what's to come in september when they meet again. the dow is down 102 points for some perspective on how choppy this has been, the dow is up

headlines we're watching including a housing market that appears to be slowing down even more, lauren simonetting, jackie but certainly slowing down so home prices are still going up, but not as much. the latest read shows the rate of home prices slowed at the fastest pace on record in june. that, according to the housing data from black knight, so the annual rate falling 2 percentage points to 17.3% of course homes are still expensive because of this imbalance we have between supply and demand, but both measures starting to cool. is that enough to send mortgage rates down a bit too? yes we're seeing that but flow one is jumping back in the market the way they were months ago. inflation has caused prices of most things to jump excessively in most cases. now, more and more americans are shopping for basics, food, shampoo, toothpaste, other essentials at dollar stores. dollar general plans to expand fresh produce to over 10,000 stores in the next several years people are literally doing their grocery shopping at dollar tree, family dollar, dollar general, when they can because we're trading down

what does this tell us about the economy, lauren simonetti? en: we still don't know what the deal is with the economy. it's a very tough question to answer. i think every company is trying to figure out. i'm going to go with the economy has slowed and slowed sharply. walmart's earnings, sales up 8 36r9, almost $153 billion in the quarter. the stock is up in the premarket. profits fell but not as much as fears. why? discounts fuel demand. then you have your higher income shopper trading down to walmart. still you have walmart, and they warned about in this, they're sitting on $60 billion of inventory. 25% more than last year. they're discounting that. you go in, any income level, you get a deal. not always good for walmart, but it's good for us. stuart: i got it. move on to home depot, because that stock is down even though i thought they'd come up with a pretty good earnings report. lauren: yeah, their sale sales were stronger. we still went to home depot, but we didn't go as off. transaction volume down 3%. inventory up 38. if why, why, why? t

lauren simonetti has it easier, focused on retails at bed, bath, and beyond.lp me with this. >> reporter: i have it more difficult today because this is the story of stories. you know ryan cohen, the activist billionaire investor, game stop chairman, major street threads speaking of kanye, and retail traders, retail has the mentality that anything ryan cohen touches and turns to gold but others say cohen pulled the rug out from retail traders by announcing he is selling all of his bed, bath, and beyond stock. curiously that filing came after he disclosed unusually large bullish bets on bed, bath, it is possible retail traders didn't know ryan cohen purchase those options months earlier but a former short seller says it smells fishy. >> the sec or whoever wants to regulate securities these days needs to find out why a stock goes from 5 to 30 on no news in two weeks. it is dangerous, sets a bad precedent. a lot of people have lost a lot of money and will lose a lot of money. >> reporter: the meme stock faithful today might be running for the exits. amc is down a

and lauren simonetti again, a whiz at history. take it away, neil cavuto. neil: all that is very good to know. thank you for sharing that. ashley: yes. neil: following same thing we've got going on here, concern how strong do you want the economy. a lot of strong news. normally that would avoid a recession, the problem right now as connell mcshane can tell us good news is interpreted these days as bad news. i guess, connell, the fed will keep tightening and tightening. reporter: [inaudible]. good news is bad news as covering financial news as we know, neil. if you're jay powell and the federal open market committee you're looking at the economic data it makes exactly that case. the fed is trying to slow things down, bring inflation down. today we learned number one consume remembers more confident, more confident than we thought. there are more jobs open than we expected. if we look at that number, jolts number, job opening, labor turnover survey, well over 11 million jobs in july. that was an unexpected rise. we still have a very tight labor market. we see

this is on the popular movie from lauren simonetti. simonett. lauren: i really like elvis. i like that one too. i'll repeat myself. good morning, everyone. it's 10:00 eastern. straight to the money, dow's down 50, nasdaq down 150. the ten year treasury yield this morning is 2.80%. it's actually going up a little bit. you're back to $91 a barrel. bitcoin down a bit, it's below 24 grand, $23,040 to be precise. any moment now, president biden will sign the chips and science act and allocate more than $52 billion to boost chip production in america and we'll be monitoring it. now this. one aspect of the mar-a-lago raid that goes unanswered, why stick 30 fbi agents on a former president yet do nothing with hillary clinton when she was running government documents on her private computer system. nothing happened to hillary. she smashed blackberries with a hammer. same with hunter biden. no raid on him and no special council either. sure seems like political bias and it sure seems like the democrats are using the power of government that they have in their conducted and unpreceden

lauren simonetti with me. have we heard from donald trump? lauren: absolutely.is spokesperson tells fox, i'll read this. president trump has made clear his view that the american people should be permitted to see the unredacted affidavit related to the raid. today, magistrate judge reinhart rejected the doj's adept to hide the whole affidavit from americans. no redactions should be necessary and the whole thing should be released, given the democrat's pension for using redactions to hide government corruption. judge reinhart dave gave the doj one week to offer a redacted version of the affidavit and they will likely blackout everything but the words the and end and this ruling is a setback for the justice department. they don't want anything released for fear of compromis ing their criminal investigation. stuart: okay, i've got that. let's bring in matt schlapp. look, matt, if the whole affidavit is not released, and it's clear, i mean, how do we ever find out why the raid was staged? >> well, i think we kind of know why the raid was staged, stuart, and that is

good morning lauren simonetti. there is now a way to investigate these stocks. >> this is great for skeptics, the mean craze, the exchange products the provider is adding ten new inverse single stock etf or a short etf, they target gamestop, amc the other day trading, robinhood, investors go short and then they get to meet in the offered by an exchange traded fund meaning they don't have to sell short but they have to buy the product, we don't know how much is going to cost, dave portnoy, an investor says a short pin etf, can we figure out who owns racks and does this mean were going to the moon. >> i think last year end this year all the mean stocks are down sharply this year, the idea of it is here to stay. ashley: that's exactly right. again, picking up on the story, goldman sachs rolling back the covid-19 restrictions. so is it back to the office for all workers? >> pretty much. it's almost like covid didn't exist if you live in new york. what goldman is doing is clearing the path to get bacteria desk in the of

and lauren simonetti again, a whiz at history. take it away, neil cavuto.at. ashley: yes. neil: following same thing we've got going on here, concern how strong do you want the economy. a lot of strong news. normally that would avoid a recession, the problem right now as connell mcshane can tell us good news is interpreted these days as bad news. i guess, connell, the fed will keep tightening and tightening. reporter: [inaudible]. good news is bad news as

okay, lauren simonetti with us looking at the movers and what do we got? here's no reason it's higher other than that cooler inflation data which is a sign of relief for americans out there, also if you look at fed funds futures they are pricing just at 38% chance of the fed at 75 in september down sharply. stuart: what is next door holding? lauren: it's like a social neighborhood watch community. stuart: gossip? lauren: crime is up. you would think it be more possible. someone stole your amazon box on your doorstep, or it's a community policing company. so you would think it be more in demand right now, but they sell ads, and ads are down that's why the stock is down 20% stuart: another company looking to the future saying -- lauren: they cut their outlook and limiting hiring so that's the theme. stuart: electronic arts, what's the story? lauren: up to 2% they just renewed a deal with the nfl for the ea sports madden nfl championship series why is that important? because they ended their deal with fefa, that decades-long partnership a few months ago. stuar

all right, lauren simonetti looking at the movers and i see netflix. ng after their subscriber base, has more subscribers worldwide. disney raising prices and netflix is up. i think the message to the market is theres room for competition and there's room for growth. stuart: that's fascinating look at disney, look at that 7% higher on a stock like that is huge. warby parker, wider loss but strong revenue and the thing is up 26%. lauren: isn't it amazing sometimes it's hard to figure these out. they grew revenue almost 14% in the quarter. the stock is also down 70% this year. maybe investors are saying look, they are a popular company. they make sense, i use it all the time, maybe it's oversold. stuart: maybe so but it's up 26% canada goose. not mentioned them for a long time they are up 5%. lauren: they sell the expensive parkers, right, with the fur collars usually. inflation is not impacting them, says the ceo. it suggests that luxury shopper is resilient, and the ceo says right now, despite a resilient shopper, we are not planning any new price incre