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Transcripts For CNBC Closing Bell 20160829

Hiring on wall street. Mylan announcing a generic version of the epipen for 300. What it means for the millions of patients that use epinephrine. But lets start with the markets. Theyve run up today. They declined about 0. 8 last week but bounced back to tune of half a percent today. Joining us, we have brad mcmillen, ben willis and our own Rick Santelli at the cme. Good afternoon to you all. Brad, lets start with you and focus on the driver for the market bounce today. It is banks, it comes off the back of a decent move on friday. All really based on expectations of rate hikes coming forward. Is it justified the see the banks start to perform given how much they underperformed year to date . Yes, it is. The reason ill say that is first of all you have yellen actually coming out and saying she sees the economy strengthening. Despite the uncertainty. It is not just the rates but seeing the businesses improve. There could be a double whammy Going Forward to help them. You know, ben, here

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