I would have maybe anticipated even more. Charles we have these crazy markets covered for you. Theyre trying to claw their way back. Nasdaq went positive. All hour long were covering the markets on making money. We begin with trade tensions from beijing, rattling the market. President trump commenting on china for the First Time Since labeling it as a currency manipulator. The Chinese Government set the yuan at the weakest level since 2018. Ii want to go to Edward Lawrence at the white house with news. Edward . Reporter charles, currency another reason President Donald Trump today calling for more Federal Reserve rate cuts. The president watching the chinese economy slow, the chinese eventually will want a deal. Theyre losing, thousands and thousands of companies, are leaving china now because of the tariff. Were in a very good position whether or not a deal will be made. I will tell you this. China would like to make a deal very badly. Reporter right now the chinese or u. S. Businesses can sell to huawei. Administration officials tell me Technology Firms have temporary general licenses for all sales. Those licenses will expire on august 15th. There is a separate process going for about another three more weeks for companies to have a new license to continue to sell to huawei. Today according to Administration Officials a new rule will come out saying federal agencies cannot buy from huawei starting august 13th. All this shows that china is gearing up for a prolonged trade battle. Chinese sources they expect 10 tariffs to be imposed on september 1st, on the additionalhundred billion dollars of imports. The chinese are bracing for the tariffs would rise to 25 which President Trump said would happen unless they buy more u. S. Agriculture. The Chinese Ministry says china will not buy more agriculture. Major government figures are at retreat. Theyre working at the retreat to find ways to retaliate against the United States without damaging their own economy. That could include, charles, talking about helping other companies from other countries but not the United States. Back to you. Ed lawrence thank you very much. Charles dan, thank you very much. Thank you. Charles came word out of the South China Morning Post the september 1st meeting, the september meeting is still on between the United States and china. The bottom fishers started to make their move. Looked like we had massive momentum. Huawei came up again. Edward lawrence talking about it here. The administration telling Government Agencies not to buy directly from them. Where will huawei ultimately be . What part of this equation will it be to the ultimate resolution of this . Huawei should have never been part of the trade deal. Huawei is a National Security issue, going back to the Bush Administration, the obama administration. This is not something that the Trump Administration just envisioned and come up with now. Huawei being part of our 5g Telecommunications Network is a nonstarter as far as im concerned and people dont really realize that 5g is not just the next step from 4g. It is a whole ecosystem evolution where were going. It will be where the smart cities will be built on. Its a whole new streaming system that huawei really cant be a part of. Charles you talked about the idea that when we make these deals, you dealt with china. You understand china better than anyone else. Yeah. Charles you suffered some personal financial losses or losses for your client there. Actually, weve shorted china. In 2009 we certainly found that there was fraud, pervasive fraud. Charles that was always, everyone knew that, right . Everyone talked about if you do business in china there will be fraud. You have to grease palms of local officials and state officials, always businesses accepted that. They were listed here on the u. S. Exchanges. People thought if you are listed on the u. S. Exchanges youre audited by the big four and the sec. Youre governed by sarbanesoxley and pcob looking at you from compliance perspective and you know, you will be accountable. The fact is youre not accountable. It is not illegal in china to steal from a u. S. Citizen. My firm exposed over 15 billion worth of fraud eminating out of china, my firm alone, as part of a greater hundreds of billions of dollars in fraud. No one has gone to jail, it is not illegal to steal from u. S. Citizens. When we talk about the trade deal, we need to understand, it is not a trade deal, this is a relationship reset this is about i. P. Theft. This is about forced technology transfers. This is about the fact that 20 years ago they were supposed to change their Justice System zoo our corporate entities in china could get a fair shake and they dont. Weve done none of that. Charles right. Dan, i was reading this morning despite the fact that america is playing the long game, no big deal to them or xi, maybe there is some issues there, there are some in the communist party elites who are upset with president xi for concentrating too much power, making policy missteps, even even provoking the United States and other countries. Do you buy into this idea they inevitably win because they can wait this out forever . China always had a longer out look than we have had. They judged us from the beginning. We misjudged them from the clinton administration. Clinton administration misjudged them. The Bush Administration ignored them. Obama administration was taken advantage of trying to negotiate in good faith. He says i will say one thing do another. They say at that was very good meeting. They do something else. Charles where do you see, we have 30 seconds i want to get an idea where do you see this, how do you see it being resolid . I dont see it being resolved anytime soon. I see becoming more and more unpopular, making himself a an emperor in china with no term limits two strong leaders are clashing here. I dont think this gets resolved anytime soon. Charles dan, thank you very much. Thank you. Charles investors are concerned. A lot of buying went into bonds. Our bond yields plunged, went into a threeyear low on the 10year. I want to go to Jackie Deangelis. She is the at New York Stock Exchange for the latest there. Reporter good afternoon, charles. Definitely a sigh of relief as the markets claw their way back. The dow only down about 68 points. You mentioned correctly it was the plunge in the 10year yield that got stock investors a little bit worried. They were ready for a choppy august. A lot of people down here told me they were bracing for that. When they saw the bond yield drop, money is pouring into the 10year note, does the bond market know something we dont know . Should we be a little more concerned that the tensions in china are not resolved . That is what caused a selloff of more than 500 point earlier this morning. If you look at the dow heat map earlier you would see a sea of red. Legitimately all 30 component were in the red. They are not all now. Some are in positive territory. You have some big losers. Disney was one of them. That was an earnings story, not so much the broader market. Also were looking at jpmorgan and 3m. Theyre trading substantially lower. This choppiness as i mentioned, it is not over yet. Even if we end up getting back to the flat line or even positive today, charles. Charles yaki, thank you very. Here to hash it out, cfra strategist, lindsey bell, kaltbaum Capital Management president fox news contributor, gary kaltbaum. Lindsey, maybe to jackies point, maybe volatility is gone but if all indices finish the green it may be a monumental message about something but what would it be . If we end in the green today i think that is a positive sign for the market. That means buyers came in and bought this dip, which is a good sign for the market overall. However the dip was really driven by action in overseas by central bankers in new zealand, thailand and india. It was a reminder to us investors that there is going to be more casualties in this trade war the longer it goes on. Charles gary, having said that, all day long some stronger names are associated with china names. Chip names done very well. A lot of tech names have done well today. You know, how does the market get a handle on this . Or is it incumbent upon the fed to give us better messaging . Feels like to a degree were in nomans land . Lets be clear, yesterday, the fed, not by accident, sent out fed head bullard and talked lower rates. That doesnt work. They sent out fed head evans out of chicago today, made three statements, all about lower rates. Theyre determined to keep the market from dropping more because they dont want to lower rate intrameeting. They would rather wait six weeks. If the markets continue lower, they will do a sudden rate cut, probably half a percent. If the markets cooperate they can wait until the end of september. That is exactly what happened today to the minute. Good to see markets are oversold. One thing i liked most, my favorite growth names were green today when the dow was down 3 or 400. That is usually a decent sign for now. The good news is, let me give you the good news, the market is only down 5 or 6 from the highs. Let me give you the bad news, the market is only down 5 or 6 from the highs, if it wants to go lower there is room. Well watch this very closely but leave no doubt the fed is now on the market watch in a very big way. Charles lindsey, i thought bullard yesterday actually blew it, he is selfdescribed biggest dove on the fed, saying we only need one more rate cut, then we should look at the data, see what the damage is. Meantime the street was modeling four cut through march of next year. So he is still saying, he is still going way off the reservation with respect to what wall street has been anticipating . Yeah, absolutely i agree. I dont think he was as dovish as the market would like to hear him see. Like gary said today, evans came out and hopefully corrected that. I think the fact of the matter the market is anticipating four rate cuts through march of next year. That is not even a year away, okay . So, the question though is, is how accommodative, or how, how good of a impact are we going to get from that type of a move . The fact of the matter is, rates right now are accommodative. Look at 1. 6 on the 10year note. Charles right. This, you compare that to inflation, you usually dont see the fed cutting at these types of rates. I think you will not get a ton of extra spending unless you see big moves by the Central Banks both here and abroad. Charles go ahead, gary. The fed cutting rates half a point here is meaningless to the economy, it is already there on the 10year but it is meaningful to the markets. It is the markets that matter most to these people right now. They dont want to lose the credit market like they were starting to do in december. It is all about the wealth effect, knowing there is 250 trillion of debt out there, god knows what could happen. I think our fed funds will be at 1 in the next few months, if not lower. An if we do end up going into some sort of contraction i expect 0 again, unfortunately more quantitative easing. That is who they are. Charles that is what President Trump has been asking for. He is going to get it. Charles thank you both very much. I appreciate it. I have a couple stock alerts, cvs having a banner quarter easily beating expectations. The drugstore back in black in part to acquisition of Health Insurer aetna. Shares unfortunately for disney have fallen. The estimates came out far short of analyst expectations on both top and bottom line. Ceo bob iger says one of the biggest issues is underperformance by the entertainment assets they recently acquired from fox. I say that doesnt explain declining operating margins, cause of concern, yellow flag. Were following markets throughout the hour. Growing worries about the Global Economy spiraling into recession. Are those fears overblown . President trump head toggle paso right now after meeting with firstresponders and victims despite loud calls from for him to stay away. Why attempts to be reasonable are being met with tremendous anger and pushback. Hmm. Exactly. Liberty mutual customizes your car insurance, so you only pay for what you need. Nice. But, uh. Whats up with your. Partner . Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty as a doctor, i agree with cdc guidance. I recommend topical pain relievers first. Like salonpas patch large. Its powerful, fdaapproved to relieve moderate pain, yet nonaddictive and gentle on the body. Salonpas. Its good medicine. Hisamitsu. Charles all three major indices as you can see in the red, but theyre off the lows in the session. One the big fears is global growth. This anxiety out there, that is one of the reasons the 10year treasury tumbled to the lowest level since 2016 overnight we saw new zealand, india, and thailand, they surprised the experts with aggressive rate cuts to help boost their growth and maybe buttress against recession coming out of china. Who knows. I think biggest red flag this morning was german industrial output number. Fell more than expected in june. How worried should we be about a global recession . We have michael crooks, ubs Global Wealth management. He will help us hash this out. Right off the top, michael, this fear, growing anxiety about global recession, what would you say to that . I would say its too early to be overly worried about it but at the same time, germany, the entire german yield curve for bunds is negative at this point. Charles lowest it has ever been. Lowest it has ever been, entirely negative. U. S. Treasury is around 1. 65 at this point. We should be concerned. We dont expect to see a global recession unless we see an escalation of the trade war from here. Charles are Global Markets misreading this, are bond markets misreading what is going on out there . Bond yields are reading the risk we see. We dont think theyre misreading it. We have low inflation across the board, across the globe. We have growth across the globe. Slow growth inflation doesnt seen a recession. Were not that far off. If we see bigger risks manifest it is certainly a possibility. Charles you think tipping this over and making it a fullfledged recession, a longer duration of the trade war, more entitiesty after the trade war . If it wept on like, this maybe the economies of the world can handle it . Right. One possibility we come back to a bit of a ceasefire. We have a few weeks to see if that happens. Our expectation doesnt happen. We see the 10 tariffs. We dont think that would cause recession but 25 tariffs that would cause recession. Charles what actions are you taking what actions should investors consider considering this heightened scenario were in. We understand most investors cant get out of equities. Most need higher return. Fixed investments wont do it across the most part. Low yields across the board of the we want investors to build a portfolio, overweight u. S. Equities. Of the u. S. Equities are fairly valued. Adding in protection along the way. Overweight, long duration, high quality fixed income. Were sticking with it, even though rates fell quite a bit. Even in the sector composition, scenes like industrials, underweighting those. Charles you said overweight u. S. Equities i think youre spot on by the way. Thanks, michael. Appreciate it. Okay. President trump putting pressure on the Federal Reserve to cut rates bigger and faster. Is it more time for less talk and more leadership from the Federal Reserve . I will have a panel weigh in next. Managingaudreys on it. S . Eating right . On it staying active . On it. Audrey thinks shes doing all she can to manage her type 2 diabetes and Heart Disease but is her treatment doing enough to lower her heart risk . [sfx crash of Football Players colliding offcamera. ] maybe not. Jardiance is the number 1 prescribed pill in its class. Jardiance can reduce the risk of cardiovascular death for adults who also have known Heart Disease. That means jardiance can help save your life from a heart attack or stroke. 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Only from fidelity. Charles President Trump easing up on china a bit and hardening his stance against the fed. Saying our problem is not china but the Federal Reserve too proud of admitting mistake of acting too fast and tightening too much i was right. They must cut rates bigger and faster and stop the ridiculous quantitative tightening now. We have carol roth, jennifer schoenberger. President trump, his disdain for the Federal Reserve, i got to tell you in the last few months, more and more people joined him, thinking that the fed made serious mistakes, particularly the rate cuts last year. What are your thoughts . I absolutely hate this obsession with Monetary Policy and the fed. I think it is completely misplaced. I think it is weird an obsessive. If you think about the role of the fed and Monetary Policy and with theyre trying to do, there is no legitimate demand for investment whether on the consumer side or investment side is being held up because businesses or consumers dont think Interest Rates are low enough. We have had low Interest Rates, historically low Interest Rates for years. We still have them. Why businesses are not making the level of investment is because of uncertainty. They dont know what is going on with trade policy, whether it is with china or perhaps our other allies. Political uncertainty. They are worry ad tweet could upset the market. At this point we need to stop with the bullying of the fed, whether from the markets or from the president because legitimate i it is not impacting the demand for investment. Charles jennifer, 2015 the fed hiked rates for the first time in almost a decade. That january, first two weeks of january, were the worst two weeks of january in the history of the market. The fed has been bullied by the markets for a very long time. President trump making his unhappiness wellknown for a long time. When they do and what they say does move market. Of course it definitely matters for the markets, charles. Somebody told the president that the fed ended quantitative tightening on august 1st. What is ironic, the bond market is already doing the feds work for it. Look at theyearold on 10year treasury, were trading what, 1. 6 and change . That is down from just 2 last week before the fed cut. So that will ripple through to mortgage rates, lower mortgage rates, lower rates on credit cards, auto loans for businesses, but also i would agree with the other guest, that will help with the margin. There is a lot of uncertainty here, one of the reasons the fed is forced to cut, because they dont want a disaster in the market. I think what is interesting though, one of the reasons that the president wants the fed to cut is because he wants the value of the dollar to drop so we can compete better with other countries around the world however the fed has touched off a global easing cycle. Once they cut, other Central Banks around the world are forced to lower their rate as well. Look overnight. The bank of new zealand cut. The bank of thailand cut. The tool of lowering rates, devalue the dollar may not be as potent as it used to be. Charles carol, we cant say, the other issue is, other Central Banks are cutting and theyre cutting dramatically. There has to be a relationship, a correlation between our rates and global rates and Global Economy it would seem and also the dollar does hurt the multinationals. That is why the dow has been hit harder since china lowered its currency than any other index because where you have a whole lot of multinationals. Absolutely. Its a fair point. I do think we need better coordination amongst our allies. We need to be having more dialogue so were more coordinated but as jennifer mentioned. This is sort of a vicious cycle. We cut rates, so they feel like we have the cover to cut rates. So they cut rates and we cut rates. It is very dangerous. Well end up with a place, more risk assets or bubbles. Well not have any arrows in the quiver around the world when we do have recession. At some point we need to get back to fundamentals, we need to stop focusing on Monetary Policy. Charles i dont think there are quivers and arrows. I think it is bazookas and quantitative easing from here on out. Fair point. Charles i appreciate it. After a big swing, really since the china currency thing, this is, when they lowered their currency is when volatility picked up. Well have more on trade wars with klein coming up. President trump and the first lady enroute to el paso, texas this hour after visiting dayton this morning site of this past weekends shootings. He may not get a warm welcome from everyone. Well discuss civility in our country next. vo the ant mindlessly marches on. Carrying up to 50 times its body weight. It never questions the tasks at hand. But this year, theres a more thrilling path to follow. father kids. Change of plans vo defy the laws of human nature. At the summer of audi sales event get exceptional offers now you wouldnt accept from any one else. Why accept it from your allergy pills . Flonase relieves your worst symptoms including nasal congestion, which most pills dont. Flonase helps block 6 key inflammatory substances. Most pills only block one. Flonase. 2,000 fence posts. 900 acres. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. no, i dont think my rhetoric at all. I think my rhetoric brings people together. Charles President Trump defending his rhetoric while heading to ohio this morning from the white house. He is currently enroute to el paso, texas, the site of one of the weakens Mass Shootings. Blake burman at the white house. Hears more. Reporter charles, President Trump and first lady are on Board Air Force one heading to el paso. They spent the morning in dayton, ohio, the site of one of the Mass Shootings where nine people were killed. They went to the miami valley hospital. The press secretary Stephanie Grisham said they went doortodoor to meet with victims, family members, spoke with hospital staff as well. Coring to the press secretary the president saying at one point. You had god watching. I want you to know were with all the way. When he left the white house he was asked what gun control measures. He said there was not appetite for, but did not seem open to ban on assault weapons or high capacity magazines. Well i should tell you there is no political appetite for that at this moment. There is a great appetite, and i mean a very strong appetite for background checks. I think we can bring up background checks like we never had before. I think both republican and democrat are getting close to a bill doing something on background checks. Reporter charles, the white house also tells me that the president , or the white house has invited leaders from technology and Internet Companies to come here on friday to discuss extremism online. As you know, since these two shootings from over the weekend in el paso and dayton the president has highlighted violence in videogames, along with the need for, as he sees it, the government to work with social Media Companies to identify those who might be a risk, might be a threat, to the general public. Right now the president and the first lady are on air force one heading to el paso, texas. Charles . Charles blake, thank you very much. Democratic president ial candidate beto orourke is attending a El Paso Community rally timed to coincide with trumps visit this afternoon. Vice President Biden is holding a iowa rally. He is blasting trump, accusing him of fanning the flails of white supremacy. Joining me rick ungar, host of rick ungar show, and fox news host david webb. It has taken on a decidedly different tone with President Trump in the office and, Many Democrats are saying, theyre directly or indirectly pointing to these Mass Shootings to President Trump. Well, i mean the nice way to say this, some of are just flat out lying. We saw this after parkland. We see this play again. This is not about addressing the issue. There is an issue around the people who use the gun. It is always the case. We had a fever of media stories and attacks. After about two weeks, theyre often back to the same thing. The president has called this what it is. He has spoken out strongly against this, against racist and racism, this is important thing. How many read the el paso manifesto. I read it over and over. It is cobbled together. It is not white sue dish supremacist. They are failing candidates trying to tie something together with President Trump and even Robert Francis orourke. Charles it feels like the democrats this, is their new issue. Ive seen al green, major proponent of impeachment, now shifting the reason for impeachment, not from russia but to trump being a racist. Well, look, this is a new issue. It will stay a issue for period of days. We all know how this goes. As david just said, weve seen this movie many times before. All we can hope for, maybe this time there does seem to be on the president s part, formore seriousness maybe dealing with things like background checks. That would be terrific. Im not quite sure why he doesnt have an appetite for the 100 bullet magazine. One of you guys may be able to explain it. I dont get that. Charles let me ask you though, on the democratic party, some of these candidates saying this is trump. This is the result of trumps rhetoric. Again, i think it is always dangerous when we blame anything other than the person pulling the trigger. The same thing with guns in general. It still take as human being to pick up inanimate object to have enough evil and hate to use it. I will tell you something im reminded of the past couple days. Anybody who thinks the president plays a role because of rhetoric, will not be convinced otherwise. Anybody who doesnt believe that the president played a role because of his rhetoric is also not going to be convinced otherwise. Charles another big thing today, guys, the property and Campaign Chairman of 2020 president ial candidate julian castro, were talking congressman Joaquin Castro tweeted a list of names and employers of prominent trump donors. Youre giving money for somebody that is going after a community and people have gotten killed because of that. Unless you support the White Nationalism and racism that donald trump is paying for and fueling, then i hope that you as a person of good conscience will think twice about contributing to his campaign. Charles talk about dog whistles all the time . Someone can say this was a hit list. If any of these people are harmed, including all these retirees on this, old folks on this list, could joaquin be held accountable . He is accountable, number one. Because on one side you cant claim rhetoric matters and on the other side it doesnt. Here is what he did, he didnt dox. He he searched put it together, put it it out there as public shaming hit list. If someone, weve seen the crazy from the left, with antifa, with a lot of these leftists, if they go out act on this, he is the one to be held accountable for this. Charles quickly. Look the congressman, i think he is wrong when he starts accusing the president s rhetoric of killing people. I dont buy that. At the same time, this is all Public Information. I get this that is not the point. I get this every single day. It is really not. Charles average american out there doesnt know where to get the information. They dont give it we should keep it a secret . Charles rick, he hasnt put these people in danger, physical danger of the lives of these people are in more danger than they were yesterday. Listen to what youre saying . No. Why arent you telling people where to get this information . Why does, no, let me finish. Why does Public Information that the government insists we print, all of sudden forget it. Charles he put those people in danger. He is is trying to purity hurst people because they back trouble. That is irresponsible. He published elizabeth warrens contributors, would you say the same thing. Charles listen to what he said. Listen to what he said. Im listening. Charles said that he wants to harm hispanics. Pay attention, youre smarter than that, rick. Turned a racist narrative. Exactly. Charles he lit the fuse. Neither of you answer answered my question. Charles youre here to answer my questions. Rick, david. Oil getting close to the 50dollar mark. 51. 09. Down almost 5 . Crude under pressure for a lot of things. More importantly, now this unexpected building of u. S. Supplies and trade situation. Which, hovers over everything. Trade jitters in fact are rattling markets. President trump says the problem is not china, it is the Federal Reserve. 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All i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. Were the gomez family. Were the rivera family. Were the kirby family, and we are usaa members for life. Get your Auto Insurance quote today. Charles so at the top of the hour Edward Lawrence broke some Important News that the federal agencies will be banned from buying huawei starting august 13th, while congress is gearing up for a prolonged fight, china, rather, saying perhaps President Trump will go to 25 tariffs. So on this note i want to bring in former trump trade, jobs advisor curtis ellis. Curtis, you know its, we cant keep up, we really cannot keep up, but i will say one of the things that sparked this market rally was news out of china the trade meeting is still going to happen. I think that might supersede a lot of the other stuff were hearing but where are we on trade . Well this news about huawei shows once again how we have the upper hand. We have the leverage in this dispute with china. They need to sell us their equipment. We dont need to buy it. They need to send their parties, the communist partys children to our universities to get a good education. Were not sending our children to chinese universities to get a good education. There are many leverage points we have to put pressure on china to stop cheating, stop stealing, and play by the rules. Charles curtis, i do want to update the story with huawei because, actually it is five companies, not just huawei. In fact inexcludes zte which was able to get back in the good graces of the United States. We talk about the different things. We know china has enjoyed its relationship with america, especially chinas elites. Where do you think this goes . Most of the thinking, conventional wisdom, the 10 tariffs will happen, there is even a great chance they go to 25 . Some see that as the Tipping Point where the markets go straight down and where all bets are off. Where do you see it . No, i think finally there is going to come around to a realization that were benefiting with the tariffs. Look at this, we have 60, 70 billion worth of tariffs, maybe 100 billion worth of revenue into the treasury department. We saw randy levine, the president of the new york yankees saying some of that money could bail out Pension Funds, multiemployer Pension Funds which are facing trouble because so many jobs charles curtis, people will say the administration is taking this money, some people paying for, whether corporations, some chinese exporters are paying, now picking winners and losers, doing the same thing obama was criticized for. That is just, that is really false flag operation. That is fake news. I mean look, we have suffered because of outsourcing of jobs. It is only appropriate that the tariffs that come in from china be used to help those that have been hurt, whether it is the farmers or whether it is some industrial areas. Maybe we need more r d in this country and we could then pay for it with some of the tariff revenue. Charles curtis, listen, i really enjoy our conversations. Unfortunately it has been a pretty wild day so far. We have to cut it short. Please come back real soon to update us. You bet. Charles this market is making a nice charge of it, folks. S p 500 and nasdaq are higher. This is the time of the day, theyre higher positive. This is the time of the day when the market makes huge moves. Usually they call it the cp effect. Well find out. Stay with us as we check into the final hour of trading. This is a humdinger. Well be right back. Charles obviously this has been one heck of a wild ride on wall street today. The s p 500 turning positive moments ago. And the dow, you know, not too far off, if it wasnt for disney, who knows. I want to go back to Jackie Deangelis on the floor of the exchange. When the market started to turn, i have to be honest, i was salivating especially a lot of names were higher. A lot of big tech names were higher even at the worst points of this session. What about on the floor . Is there any sort of thinking, hey, this is when you start to accumulate stocks . There are definitely traders out there saying it is time to get into certain names, they have been beaten down and theyre taking advantage of that opportunity. If you look at the dow heat map, you can see we were all in the red when we were down 600 points. Now the market climbed its way all the way back. Traders say the dow may climb into the green and close that way. This is a expected of a bumpy ride in august. Without any answers with respect to china right now, everybody is sort of repositioning, trying to figure out where exactly they stand, charles. That is the nail of the game and it is tough to do. Charles its tough to do. The buyers emerged on weakness that is a good sign. Absolutely. Charles jackie, thank you very much, appreciate it. Were looking at potential buying opportunities in this very volatile market. Well be right back. Dear tech, lets talk. We have a pretty good relationship. Youve done a lot of good for the world. But i feel like you have the potential to do so much more. Can we build ai without bias . How do we bake security into everything we do . We need tech that helps people understand each other. That understands my business. Weve got some work to do. And we need your help. We need your support. Lets expect more from technology. Lets put smart to work. Charles markets in the midst of an amazing swing to the upside as we approach the last hour of trading. I want to bring in Jason Rothman and stephen guilfoyle. Let me start with you, jason. This is an absolute remarkable session for many reasons. In fact, you know, at one point i think people were wondering if the dow would be off 1,000 points. Right. Which it was not too long ago, whenever it was, a couple days ago. Theres a couple reasons really that are legitimate for stoking this rally today. Number one, the market is waking up to the fact that the world is lowering Interest Rates. Bank of new zealand, not that theyre the largest bank in the world, they cut 50 basis points versus 25. The market actually started to price in a 10 chance that the u. S. Fed will cut 25 basis points tomorrow and as you know, the market likes low Interest Rates. So we are starting to see rallying in anticipation of rates staying low for a long time. Charles its interesting, when you think of new zealand and rates, maybe what do they do, they take a couple sheep, put them in a barn . Im just joking, new zealanders. Those that watch the show. Hey, you are a trader. You live with the volatility, you understand it better than most folks because your business revolves around that. Im sorry, i want to bring in sarge for a moment. Earlier when the market was even at the worst point, there was a fair amount of green on the screen. There were names like roku, old, shop, shop is up 750 in the last three years and people were still buying it at the worst parts of the session. Whats up with that . I thought everyone was looking for value. Everyone is looking for value. I believe folks should run with a narrow portfolio in times of stress like this. But you are naming a lost stocks that dont have much exposure to china. Believe it or not, the high flyers, the fang names and the software names, the cloud names, is precisely where you have less exposure to china. Lot of these names arent allowed to compete in china. While they get thrown out with the etfs, with the other tech stocks, the semis do get hurt, all of a sudden you have even if its not a high valuation, a discount in these stocks. Charles we had almost a 600 point reversal in the dow. Every day when the market closes i try to assess the message of that session. What do you think the message of this session is for the average person watching this, average investor watching this show . Great question. The message based off of facts this morning, in other words, the trade meeting between the u. S. And china likely to happen next month, i think the message is that the market knows that this trade war cannot last forever. The evidence is that the meeting will likely happen next month so i dont see a bear market going forward. I think we have actually probably reached a bottom, frankly. I would be afraid of that. China has the big communist Anniversary Party in october. China is not going to give an inch at those meetings in september. They will hang on at least until october, probably for 2020, and they will pray the whole time donald trump doesnt win reelection. Charles theres no holding on, though, right . Either it gets worse or it gets better. You see what algorithms have done to the marketplace. They go further and faster than you have ever seen before because it takes humans time to react. Charles did you buy anything today . I bought disney on the discount. Charles jason, did you buy today on the dip . Yes. I continue to like iridium. With this gentleman sarge, i completely agree we need to be having a narrow portfolio of value and Growth Stocks unaffected by this trade war. Im in total agreement. Charles gentlemen, thank you both very much. Now you know each other. The dow is off 19. Liz, i tell you, my goal was to have us in the green when i handed it over to you. Liz no. This is what i want you to do. Mark the time right now. We are exactly, see, he follows my rules, i like that, were at the top of the hour, 59 minutes and change before the closing bell rings, and markets are launching a comeback of sorts. Weve got multiple market buy signals flashing as we head into the final hour of trade. The nasdaq and s p, as you see on the screen, have just turned positive in the last few minutes. This comes on a day filled with drama that saw bond yields crumble and the price of oil tumble earlier. Crude right now still down about 4 but it had been down more than 5 . This as the aftermarket trying to stage a comeback but as the markets overall att