Additional boost to talk about which well talk about now. Yeah, certainly did. Joining us now to help break down the day is mark travis from Intrepid Capital fun, steve grasso will join us, and Rick Santelli is with us as well. Mark, begin with you. Nice to see you. Glad to be here, scott. This whole day into perspective and what youre thinking about the market, given everything thats out there, syria, taper, you name it. Well, i think that the market has decided maybe syrias not going to happen after all. If it is, it will be kind of a pinprick. And the jobs report on friday, let the air out of the taper bubble . Yeah. Taper talk . And so, you know, youve got a relief rally at this point that, you know, makes us feel better. Im not sure were not just spinning in place, which has been my point of view really since may when rates started to rise. So youre cautious now still . Because an hour ago we had a panel on. They were 100 bullish. Biggest bull market in our lifetime or our careers or something is what rich bernstein said. Lets hope so for all of us. You dont think so, it sounds like . You know, michelle, i think valuation techniques we use at Intrepid Capital funds to kkr or apollo or blackstone. Weve been challenged finding securities that meet our valuation parameters. So, we have a lot of cash at this point. Rick santelli, Interest Rates moved how based on this news of syria . They didnt move a lot. As a matter of fact, i think the most interesting aspect of today is when you look at it in the context of how we traded after fridays number. We saw a good deal of buying after the number was out, which made sense. It was a weak number. But in the last several hours going into the close, they pushed rates up. They took that yield premium out. Who could go home short treasuries . Does that sound like a group of guys worried about syria . To me, i dont know if i could say as our guest did that syrias just going to be a pinprick, its going to be gone. Unintended consequences can be crazy. I think at this point, its just not holding the markets attention. As far as Interest Rates, there may have been one session where it really did pay attention. I think rates continue to look like theyre going up. If i took the name off a tenyear chart since may and showed it to any of your guests as a stock, they would say, oh, my god, thats the most bullish looking chart i have ever seen. Yeah, except its Interest Rates. Yeah, Interest Rates. What is 2. 91, 3 tenyear mean to a guy like you . If you do discounted cash flow, terminal value will be lower. I think this low level of rates is not as significant as maybe at a higher rate. I dont think its insignificant. You know, if you look at the bond indices since may, a lot of them were negative. Is it factoring into the stocks youre buying . Youre a well respected investor. A lot of people follow your stock picks. Again, i think if you look at the less efficient parts of the capital market, its small cap equity and higher debt. Those Asset Classes have done well this decade. If you look at the rest of 20 00, its not trading at low values ebdt. Youve had this artificial rate suppression thats forced everybody first out into the treasury market, then the Corporate Market then they sought equities and driven those prices up. You know, i can go through a litany of things that could happen. I tend to agree with roik syria. Who knows whats going to happen. For us to think theyre going to turn over those chemical weapons, i find that hard to believe. So, if we think back over our investment careers, you know, all sort of things happen. Who would have thought of longterm capital blowing up in late september of 98 . You had three noble Prize Winners and it was 5 billion. Quaint now in terms of the size of hedge funds. Yes. Lets bring in Jeff Kleintop as well. What do you mang of todays rallies . Is this going to stick . Five days in a row now that were up. You have to ask yourself, is this the kick the can september . Im kicking the can on september seems to be bullish on this market, maybe kicking the can on the debt ceiling, later resolution, that might be bullish. What about the taper . Is the fed going to kick the can on the taper . I dont think so. That means well see volatility come back here. I dont think weve seen alltime highs yet for the year but i think it will come with some ups and downs and september will live up to its reputation as a bumpy ride. What do the guys think of what happened in the market today and what it means Going Forward . Just to jeffs point, you had a lot of taper taking a little out of the market. Then syria monopolizing the headlines. Syria, a little relief today. If you look at taper, its still there. Debt ceiling, still there. I think today was a pretty good day to be a seller. Thats what i did with a couple of positions. I dont think we can you know, 1675, 1685, s p cash i think is a pretty good level to be selling stock. I think were due for a little bit of a pullback. We went back above the 50day moving average on the dow today, did we not . I dont follow the dow but i dont disagree. The s p were above that level. The 100day is the big level where we bounced. You know, at this point id rather be a seller because i think theres a whole bunch still coming down the pipe. Steve, a guest on last hour he thought what was moving the markets high other were people were back from vacation. Sell in may, go away. Maybe not a bad idea. They come back, here it is september, now we have some i mean, the jobs report wasnt great, but you see flow. Are there more people back . Theres a healthy amount of people getting back to their desks saying, wow, i missed a rally and a couple of these things because taper was so consensusly sold off in the marketplace. Also syria was as well. So, when people get back to their desks and missed 50 handles to the upside, they want to get back in the marketplace. I want to get one stock pick before we go from mark travis. One that jumps out more than any other is pan American Silver simply for the fact of obviously whats happened to the metals and how volatile theyve been over the last couple of months. Yeah, scott, i think again looking for a discounted dollar the way we look at it, the things that seem to be popping up for us are asset valuation plays. Pan American Silver being one of them. The challenge is, as ive said to some of my analysts, i dont think we would wake up tomorrow and decide were going to mine for silver and gold. What a difficult business. Youre mining in mexico, peru, argentina, they steal your mine in argentina. Again, heres a business whe where with 2 billion market cap, 400 million in cash. Good margins. I like to say, silver is gold on steroids. Its gotten hammered. Down 37 year to date. When did you get in . We owned a lot at 12. We think its worth 19. Now, when that happens, i cant tell you. If it happened tomorrow, it would be great. Good to talk to you. Thanks, guys. Good to see you. Really appreciate it. The first day of trading for the week is in the books. It was a good one. Lets go to dominick with how it all shook out. Michelle, all three major stock indices finished up on the day. All ten sector groups in the s p 500 finished in the green. Leadership came from cyclical stocks. In other words, companies that get the most benefit from an improving economy. Materials led the way, gaining nearly 2 . Cliffs natural resources, mosaic, they paced gain for materials stock. The best best performing sector was technology. It didnt hurt molex shot up over 30 after privately held Coke Industries agreed to buy it for 7. 2 billion in cash. Also yahoo, advanced microdevice, all strong performers as well. The worst performing stocks are those considered more defensive, the ones less sensitive to the ups and downs of the economy. You think naik names like utilities, health care, consumer staple companies. They were positive on the day but each only up half a percent. Overall, very strong start in terms of a day, very strong start for the markets this september. Back over to. You yeah wide breadth. Its been five years but feels longer. A half a decade after the mortgage led to Global Financial calamity. Well take a look at the fate and future of the fha. And apple looks to polish up its product line with a bushel of announcements tomorrow. Will the market like what its going to hear . Well see if the products and stocks will pop. Welcome back. Mortgage mania helped lead to the great economic downfall of 2008. Federal Housing Administration played a key role in the runup and in the aftermath to get things back on track. So, whats its role now . A diana olick has that. Reporter when private investors pulled out of the subprime Mortgage Market during the housing crash, the fha stepped in. The government mortgage insurer went from about a 3 market share during the boom to over 25 market share at one point. Now, as lawmakers try to figure out how to extract government from fannie mae and freddie mac, some are questioning whether the government should be involved in the Mortgage Market at all. They point to the fhas very high delinquency rate. It is falling but at the end of june it was 8. 22 . Seriously delinquent. Compare that to 5. 88 delinquency rate for all loans. Its the one institution that made it through the entire crisis without yet having to take any draw and perhaps may ultimately work its way out of this without having been a failed entity. Reporter dave stevens, now ceo of the Mortgage Bankers association, led the fha during the worst of the housing crisis and says there will always be a role for government mortgage insurer pipts the entryway for firsttime buyers. I think its going to be very difficult to have availability of capital on a large scale for the low down Payment Market that is safe and sustainable on a go forward basis without having the government play a role. Reporter while the fha has not needed a bailout yet, it still could. As the rest of the Mortgage Market deals with new regulations, making mortgages more expensive, the fha could, in fact, start to grow yet again. For more, of course, on the blog realtycheck. Cnbc. Com. The Financial Crisis Inquiry Commission was created in 2009 to investigate the causes and recommend ways to stop it from happening again. Commissions former chairman Phil Angelides kepz his fingers on the pulse of the progress of his groups success and he says it will be largely dependent on how who is the next fed chairman. Joining ining us exclusively f angeles is mr. Angelides. Considering the Consumer Financial protection bureau, dodd frank, five years later still being written, how would you rate the success of whats being done right now to prevent another crisis . Im not very sanguin. Ive been disappointed. If you look at whats happened in wall street, very little if anything has changed. The Credit Rating agencies are pretty much like though were before. Compensation practices really havent changed. The biggest banks are now even bigger so were at greater risk of too big to fail. Across the board, very little change. Of course, dodd frank has been fought at every turn in congress at the regulatory agencies and the courts by the big wall street financial interests. Does it distress you as equally that fannie and freddie exist in nearly the same form, the fha is still around in the same form . You didnt mention those as being distressful to you. I think if you look across a broad band its striking the extent to which there has not been the deep structural reform we need to protect our Financial System and our economy and to make sure our economy can grow again. Theres been almost no political, legal or economic consequence for the wrongdoing on wall street. So, your concern is that people havent been arrested . Well, my concern is theres been no fundamental change. Compensation practices where people got big bonuses no matter how deals turned out in the long term. Those practices are still in place. The dodd frank regulations, many of them have been stymied by a fierce rearguard action by the financial industry that spent hundreds of millions on lobby and campaign contributions. The Credit Rating agencies which performed woefully have not changed. Derivatives market why arent you as angry about fannie and freddie and the fha . First of all, let me say something. They need to be reformed. The truth is, the government had to weight in to stabilize the Mortgage Market because of the recklessness on wall street. Youre talking about afterwards. What about the mere existence . Well, i think some level of federal support for responsible homeownership makes sense. But across the board, i would agree with you, the kind of changes we need in our Financial System have been very slow to come about. Lets steer the conversation, if we could towards whos going to be the next fed chairman. Know you think thats critical to preventing a crisis in the future. Who do you think the best choice would be right now . I think janet yellen would be an excellent choice. Look, i think we want someone at the fed who will be firm and strong and resolute in their oversight of the big mega banks. Thats a primary responsibility of the Federal Reserve. Under Alan Greenspan the Federal Reserve failed woefully, helping lead to this crisis. We want someone who will also take seriously the other mandate of the fed, which is to move up employment. Five years after the crisis, we still have millions of people who are unemployed and been unemployed for the longest period of time since records were kept after world war ii. We do not want somebody as part of the deregulatory movement i knew you were its like you and sheila bair share talking points. She says Larry Summers was part of the deregulatory kabol and youre making the similar, if not exact date . I have a lot of respect for sheila bair. Were of different parties. The fact is Larry Summers did stand in the way of deregulation of derivatives, which would have been the sensible, right thing to do partially after Capital Management blew up. He also shepherded through glass steagall. One thing in glass steagall, it lightened the hand of regulation. Was actually called fed light. I think we need someone whos not been part of the washington wall street access. I think janet yellen is an extraordinarily capable person. I join a whole set of people who believe she would be a fresh perspective, a fresh voice at the fed why do you why arent you equally critical of the fed for having kept money so cheap for so long, which a lot of folks also think happens to be one of the causes of the financial crisis . When everyone seeks yield because money is cheap, desperate to cover inflation, this is what happens. And janet yellen would be considered very dovish and likely to continue that same policy path. I actually operate in the real economy. While i did Public Service for more than two decades. Ive been in the real economy. Ill tell you, things are very fragile out here. We need policy makers who understand that and are doing what they can to buoy the economy. I dont buy the argument that cheap money needs to lead to a crisis. Inexpensive capital can also be a boone to job creation, Enterprise Development if its properly applied. If its used for pure speculation like in the mid2000s disaster will occur. People who are certificates of deposit get desperate. It happens regardless because the money is so cheap. You cant be let me just say, things are very fragile out here. We need a Federal Reserve chair who understands how fragile the economy is and will do what needs to be done, particularly if Congress Wont undertake Larry Summers doesnt understand that . Larry summers doesnt understand that . Let me just say something. If you asked me, which you did, who my choice is, i think for a variety of reasons, including a fresh perspective, i think janet yellen is fresh and new. I think we need to break from the policies of the past that brought so much pain to this country. Shis shes been on the board for years now. What makes her new and fresh . She comes from Larry Summers hasnt been on the board at all. Hes new and fresh. Let me suggest michelle let me suggest something to you. Go take a look at the interview ms. Yellen did with the financial crisis inquiry committee. It showed a real willingness to learn from what happened in the 2000s. I sat in on her interview with Larry Summers and he had a very hard time acknowledging any kind of mistakes, for example, in the decision not to regulate derivatives. Again, i think all in, when you look at monetary policy, when you look at strength of regulation, janet yellen would be the best choice. Thats just my opinion. Larry summers has a problem admitting any mistakes at any time, is miening. Don kohn foregone, although reporting indicates he might be a leading choice. Thank you so much. Thanks for having me. Lets go to dominic chu. Pva, phillip van heusen. They are off their session lows. We should say earnings come in better than analyst estimates. Also sales coming in better than analyst estimates. However, its the guidance that has some invest worries worried. Current quarter profits are forecast to come in below where analysts thought they would on average. Theyre also holding their full year forecast for profits just at around 7 per share, around where it was before. Pvh coming out and saying they think the consumer environment will remain soft and sales volatility will continue especially in southern europe. Those pvh shares taking a little bit on the chin do the downside on this earnings. Remember, earnings beat sales beat but its the forecast that has some investors concerned. 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Steel stocks, and whenever you get asian news strong, China Economic news strong, you generally get a follow through on material names. Material sector ended at a fiveyear high today. U. S. Stocks notably on the upside. How about Interest Ratesenses ive stock . Weve had a couple days where rates have been moving to the downside, primarily to the disappointing job report on friday. Home builders have stabilized recently but this works on the other side as well, michelle. As rates have moved down, the long end, of course, has suffered moving down. Weve had a steeper yield curve. In the last couple days thats put pressure on the regional banks which you see, didnt end on the upside. Iphone 5c is widely expected to be revealed by apple. Here for what to look for tomorrow about any and all apple announcements is john fortt. Expect two, a highend 5s or mid to low 5c. Two things that matter. Short term and long term. The high end 5s doesnt get can balanceized and the 5c is affordable enough to eat into android share . Apple will get criticized no matter what, if the 5c is priced high, people will say its not cheap enough to gain share. If its cheap, theyll say it will destroy margins. Longer term, the Smartphone Market has matured enough theres not a lot of growth in hardware and apps anymore. Now the growth belongs to the companies that can build the best services on top of their platform. Beyond the launch apples success gets people to pay for annual fees like icloud or itunes. Well see if Voice Recognition and maps are truly getting better. Back to you. Thanks so much, john fortt. Will apple stock be trading higher or lower this time tomorrow as a result of the announcements . I donten. Max wolf says its not the event the companys engs kugs that makes or breaks the situation. The leadership is questioned and whether competitors breathe down apples neck. I need glasses, thats the bottom line. Alex, make or break . I think theres something of a make or break element to it in the sense that i think coming into this android has set a relatively low bar for apple to exceed this goround. I think that some of the mobile watch offerings have been somewhat clumsy. Obviously, theres been some slack in galaxy s4 demand. The ball is in apples court to show it can do something with product diversification, responding to the various needs, different price points globally. And i think the stage is set for them to have a good day tomorrow. Max . They do have to deliver, right . Given all the questions about innovation or lack thereof, given the fact that the stocks had a pretty nice move since icahn got into the game, they need to dlieliver, dont they . Yes. I think the buried lead is ios 7, if its meaningful better than what he can call kit cat, if its better than android offering and if the new software package, dumping the new flap design dove tails nicely with the hardware, they have a real chance. Part of the legacy is these hardwarebased events. Everyone talking about the 5s and 5c where the future is software because the hardware is commodityized and its not going to move the needle. I think youre right. People are used to device launches. So, a software launch, you cant see it, you cant touch it. You can see all the functionality in a presentation but i think a lot of people will be asking, i can get it in ten different colors, right . Sure. The case business is huge for that, the extra battery, the way you sort of people put jewelry on these things in the most rapidly growing market in northeast asia, south asia, north america. Everyone has their way to personalize it. The truth is, can apple still sell the old, Outdated Technology at a high price, 4s, increasingly the 5, and have a cheaper version of the new one, the 5c. Thats the 64,000 question. Does the new Software Actually work with the hardware better . Does it do more thingso or just look different because its flat design . I think thats the story. Just wonder if the story is going to be a similar one to what its been in the past from a stock standpoint and thats a sell on the news event. You know, the stocks come up. Maybe people sell it. The rel real tell we wont get until the first or second week of october when apple comes out with earnings numbers and we find out how many of these new devices theyve sold. Thats right. I think that you have seen a 20 plus move in the stock coming into this, which is on par with some of the best moves its seen in the past. In those instances, yes, apple did not trade up. It was a sell on the news event. But i do think there is some element of or some reason to be optimistic will will be differentiate on on the hardware. There will be lt dance and tdlte for the china market. There are things happening in addition to the saft wear that i think they can generate excitement around this event. I think china carrier, japan carrier story, the fact that apple used to buy the rumor, sell the fact because all the rumors used to be fawning and pushing shares higher. For the past six months that hasnt been the case. You kept using a word i didnt understand, excuse my ignorance, skemorphic . In the early days of apps, early days of apple, the notion was all the apps, all the features of the phone would have an electronic symbol that looked like what you were trying to do. The note pad was yellow. Flat design is saying everyones been using a smartphone, most folks have for year, so you know its a notes program. We dont have to make it look like notes before you did them on your phone. Okay. Thats a big johnny ive challenge . Absolutely. Thanks, guys. Well, its a mystery, worthy of a law and order episode . Why would a sitting United States senator go against the Supreme Court of the United States . Well tell who you it was and get to the bottom of why it happened. [ female announcer ] youre the boss of your life. In charge of long weekends and longer retirements. Ask your financial professional how lincoln financial can help you take charge of your future. Its hard to believe he was ever sick. But the bills, they just keep coming. You remember the Life Insurance you bought years ago. It has living benefits that you could use for times like this. whispering mom, is he sick . No, honey, hes fine. Dont worry. Your hair will grow back. Mine did. [ male announcer ] state farm puts the life back in Life Insurance. With benefits you can use when you need them most. Senator Elizabeth Warren taking aim at Supreme Court, criticizing the court to be too friendly to corporate meeshg mer america. She did not hold back. The five conservative justices currently sitting on the United States Supreme Court are in the ten top ten most procorporate justices in half a century. The chamber of commerce is now a major player in the Supreme Court. And its win rate has risen to 70 of all the cases it supports. Think about this. You follow this procorporate trend to its logical conclusion and sooner or later youll end up with a Supreme Court that functions as a whollyowned subsidiary of big business. Wow. So, the high court accused of being in the pocket of big business. To weigh in on that charge, lets bring in former senator Kay Bailey Hutchison who disagrees with senator warrens view and also jared bernstein, former economic adviser. Senator hutchison, whether you agree or disagree, youve been in the seat, it seems rather odd for a sitting senator to launch an assault, really what that was, on the Supreme Court of the United States. It really is. Its a new front to take on the Supreme Court in such a personal way. You can disagree with what the Supreme Court has ordered, but to say all of a sudden theyre bought and paid for by big business is really irresponsible because this is a Supreme Court that affirmed a good part of obama care. I mean, my goodness, thats not proCorporate America. And people who disagreed in the senate, of which i was certainly one, didnt assail the Supreme Court. We just said we respectfully disagree with that conclusion, which is the way its supposed to be, i think, in a respectful way. Right, jaered, it is rather interesting when you have senator warren calling the Supreme Court too conservative when you have the chief justice of the United States, john roberts, come down as the deciding vote on what many would consider to be the most liberal of liberal agendas, that being obama care. I think its a great point. And i dont think that the Supreme Court is bought and paid for. But i do think that senator warren actually has her facts correct. If you look back over the past 65 years, there have been 36 Supreme Court justices. If you rank them in terms of their probusiness votes, it really is true that five out of the top ten on the current court, conservatives in the current court. And in slots number one and two, Something Like 2,000 decisions were considering over all that time span, are justices alito and justice roberts. It is true that the win rate for the chamber of commerce has been 70 , if you go back to the Rehnquist Court it was about 55 . So, shes got her facts correct. You say like its all about nothing. Senator hutchison, senator, go ahead, weigh in. Yeah, let me just say. Why do democrats feel they have to make big business the enemy . Who do the labor unions think high hire people . Who do these Democratic Senators think will bring our economy back . Its people who hire people. Thats business. Why do you why would you thats interesting. Make big business the interesting i can speak to that. Senator, i can speak to that. Two things i want to speak to that. First, i want to mention, Citizens United, probably one of the boast counterexamples to the health care law. I bet senator hutchison would agree theres already much too much money in politics right now. Senator warren has been very clear and much of her rhetoric is saying, im a big supporter of business. She says, but remember who helped you get to where you are today. Shes not attacking business here. Shes worried about the Supreme Court influencing, for example, classaction suits. The Supreme Court has made it very tough for consumers to bring those kinds of suits. And i think that probably the senator would agree with me that consumers often need classaction suits to fight back against Corporate Power when it is abused. Before the senator answers, come o you listen to the senator make the speech here and she sounds as though shes attacking big business at almost in the same breath as attacking the court as if theyre one in the same. Thats the point shes making, as if theyre one in the same, in the pocket of one another. Ander to tonality is poisonous. I take your point. Thats not the way i heard it. Her tonality . Come on. I heard her very much suggesting it was the court that was giving big business more power thavn they need. I thought that was the target of her comments. But i take your point. Citizens united, senator hutchison, i always saw that as finally leveling the Playing Field between unions and everybody else. Unions were able to do whatever they wanted and now finally Corporate America is on an even Playing Field and their influence. Thats true. Its been an unfair and level Playing Field. The Supreme Court was saying to put your own money where you want to in politics is a very important right. And its protected in the constitution. What Elizabeth Warren and the labor unions said is that theyre equating money with freedom of speech. Thats not right at all. Theyre trying to equate your money as you will in politics as part of the american political system. Look, im actually very surprised to hear a former senator support Citizens United from this perspective because most americans, i think, hearing the sound of my voice would agree, a, theres already way too much money in politics, and Citizens United make that worse. If you want to remove money from the unions and politics, lets do it. Would that be okay . The unions arent allowed to lobby . I agree with both in other words, its not just that Corporate Power is unleashed with Citizens United. Its union power as well. But those scales are weigh out of balance. With all due respect, its not how much money is in politics. Its the transparency issue. What has happened in finance reform in politics, we dont have transparency because the parties themselves are been put out of the system. So now we have these Citizens United wait. Citizens wait, wait. No, no, this is not a conversation about Citizens United or sure, it is. No, it isnt. It should be. I want to ask you one final question. Its bad form, would you not agree, for a sitting senator to attack the Supreme Court . Youve been in the white house. Is the white house cringing at a moment like this when senator warren is going off like that . Perhaps. I think its not bad form for the senator to cite facts of the type she did. Im sorry you dont want to talk about Citizens United. It has diminished transparency in campaign finance. Its not made it more transparent. I understand but were not we all agree we need more transparency. Were not trying to have a conversation about campaign finance. Well, thats thats one of the main ways that the Supreme Court has lifted Corporate Powers influence in elections. I think youve got to understand that. Were simply trying to debate senator warren saying, and this is the sentence, you follow this pro corporate trend to a logical solution and you end up with a Supreme Court as a wholly owned subsidiary. Thats the debate we wanted. Well have the other debate another time. Youre right. As i said in my initial we wrael have to go. Thank you. Thank you. Well, as president obama prepares for tomorrow nights who white house address to the country, syria may be paving a way without military action. The market liked that. For more on that, lets go to john harwood. Reporter its a bit of curveball during the middle of this administrations very heavyduty selling campaign, thats syrias discussion, along with russia, of turning its chemical weapons stockpiles over to international control. May have started with an offhand remark by secretary kerry. But Hillary Clinton said its worth checking out. Weve seen the reports. We want to take a hard look at the proposal. Well discuss the idea with the russians. Of course, we will welcome a decision and action by syria to give up its chemical weapons. If the regime immediately surrendered its stockpiles to international control, as was suggested by secretary kerry and the russians, that would be an important step. But this cannot be another excuse for delay or obstruction. Reporter now, both democratic and republican Foreign Policy strategists tell me this could be credible if syria agrees to promptly turn over its supplies, although that could take a long time to implement, agrees to subscribe to the Chemical Weapons Convention and has a turn toward some sort of peace conference at geneva the United States and russia have been trying to organize. Too early to know if any of that will happen but this will color the debate in the run up to the president s speech to the country. John, thanks much. Speaking of that speech, tomorrow night, cnbc provides a special report on the president s address to the nation. That starts at 9 p. M. Eastern tomorrow evening. The times, they are a changing. Few thought they could change like this. The president of the aflcio said the organization traditionally made of unionized workers needs to open doors to accept nonunion workers. T paid g you really love, what would you do . [ woman ] id be a writer. [ man ] id be a baker. [ woman ] i wanna be a pie maker. [ man ] i wanna be a pilot. [ woman ] id be an architect. What if i told you someone could pay you and what if that person were you . When you think about it, isnt that what retirement should be, paying ourselves to do what we love . [ male announcer ] 1. 21 gigawatts. Today, thats easy. Ge is revolutionizing power. Supercharging turbines with advanced hardware and innovative software. Using data predictively to help power entire cities. So the turbines of today. Will power us all. Into the future. Welcome back. The number of private Sector Workers that belong to a union has dropped. Our guest is now a distinguished lecturer. Good to have you here. How do you do this . You have nonunion members. What do you do for them if you dont have collective bargaining . One of the things i think we will see here is organizations that have been working with low wage workers, contract employees, freelancers are going to be in discussions with the afo cio organization to talk about what kinds of things they can do to improve wages. In terms of individual members paying dues, i dont think you will see that for a long time. What is this about . Is this desperation or Something Else . It certainly appears to be that. I wouldnt use the word desperation but i think it is the engagement of the reality of how the World Economy has reorganized. The implications of that, the American Trade Union Movement Comes out of the cold war and didnt understand how the world was going to reorganize its economy. They actually did not engage the new very well. I think what you are seeing here is after a number of years where unions and organizations like the domestic and taxy workers, hotel and restaurant workers who were outside of the traditional sphere of the trade Union Movement organized themselves. They are now coming to the table and say we have some power. You have power and experience. We have got some shared resources and an agenda that we want to talk about. Thanks so much for joining us on this interesting topic. We really appreciate it. Thank you. Find out what you need to know for trading tomorrow. Thank you orville and wilbur. Amelia. Neil and buzz for teaching us that you cant create the future. By clinging to the past. And with that youre history. Instead of looking behind. Delta is looking beyond. 80 thousand of us investing billions. In everything from the best experiences below. To the finest comforts above. Were not simply saluting history. Were making it. So will the market continue its march higher tomorrow . We are joined with anthem and brian. Anthem, youre up first. 30 seconds, go. Hi, scott and michelle. Ill be watching the rates at which viewers lend gold against dolla dollars which has been near zero. If the optimism index for august is lower than julys figure of 94. 1, the market may anticipate further intervention by the fed. Given that gold and silver prices perform best when real Interest Rates are negative, any signs pointing to the extension is bullish. Okay. Over to you. What are you watching . Of course were going to be watching apple tomorrow to see what kind they roll out. We will be keeping an eye on. That in addition to that we will be watching Chinese Industrial production look for at 9. 9 yearoveryear growth. Thanks to you both. Both under 30 seconds. Good day for the markets. Were going to break it down right after the break. If youre serious about taking your trading to a higher level, tdd 18003452550 then schwab is the place to trade. 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Plus 140 Tech Knowledge had a good day today. There was good data about china overnight. That was good for the global markets. China was up big. And syria played a role today as well. Sure. Thanks so much for joining us. Fast money is going to start right now. Yep. Live from the Nasdaq Market site in new yorks time square, this is fast money. Here is tonights lineup. Apples emerging opportunity. Why a cheap enough iphone is the key to tomorrows big product announcement. Tokyo 2020. The markets cheer the big olympic win, but should you buy the hype . And street bite. This is what happened last time ross was on fast money. Im neutral on stocks. Why . Find out why this chart watcher is changing his tune
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