Schumer calling it, quote, an agreement that is very good for the american people, and a, quote, genuine breakthrough. Mcconnell and schumer coming together, putting together this deal, which by the way, pours money into the military and into domestic programs like opioid addiction and support, but wait till you hear whats not even mentioned. It is possible the markets are back to business as usual after three sessions of intense gyrations, stomach churning falls and dramatic climbs . The s p is calm as a cucumber, nasdaq down 41. We here at the claman countdown, its not over. Today has endured a 500 point pluspoint swing. You cant say all quiet on the western front. There is zero guarantee at the moment. As we thought things are settling down, we start swinging like a pendulum. Whats going on . We point to this. With the dow up 94. Volatility woke up from month long hibernation last friday when Rising Interest Rates sounded the alarm and the dow plummeted 665 friday. Down 1175 monday, up 567 points yesterday, but with the more than 1100point swing yesterday, too. In the last few hours, the senate adding fuel to the volatility inferno. Down, up, sell, buy. Its been a wild ride for anybody invested in this market. But its important to note that this has been the hour when the biggest swings tend to happen. Its the final hour of trade, and see what happens here. Lets start pulling out individual stocks. There are big stock stories to tell you about. We need to check in on shares of wynn resorts, the casino giant. Up 8 . The stock is winning without the wynn, and talking about steve wynn. Charging to the top of the s p 500 after the companys namesake was ousted. Board along with shareholder approval, swiftly moving Company Veteran matt maddox, the president into steve wynns position. The casino mogul who founded the company resigned following Sexual Misconduct allegations that were blown out of water in the wall street journal a couple of days ago, but while investors are applauding the move, the stock is taking a big hit since the allegations first surfaced shedding nearly a fifth of value but trying to recover at this moment. Not quite there just yet. From the s p leader to the laggard, biggest loser on the s p. Chipotle looking at worst day since late october. After a slew of brokerages downgraded the stock and cut their price targets on it. Stock is at 271 bucks but down 11 after the burrito chain said, were expecting fewer customers all the way through july. How can they even tell that . But they did say even though the share surprise falling, theyre going to give bonuses to a lot of employees, more than 70,000 of them. Cmg group on volume of 4. 1 million shares. To capitol hill, the senate has the deal. If it passes, has to go back to the house, does not look like House Minority leader nancy pelosi will support it, even though, and by the way thats her on the screen live, shes on hour five of a speech supporting dreamers and immigration reform, and i say shes not going to support it even though Chuck Schumer, the leader of the democrats on the senate side said its a genuinely good deal. So suddenly the chuck and nancy show split apart here. Why . Because there is no daca deal or deal for the dreamers, the children of immigrants who came here when they were very young, there is nothing in this new deal that mentioned immigration. So the house democrats, thats a big question. Will they support it and tune out this soliloquy, adam shapiro, she is pulling off on the floor there. Reporter not just her, mark meadows, from the freedom caucus, conservative republicans spoke to President Trump and said mark meadows, he will vote no. You have fiscally conservative republicans saying dead on arrival, they do not want the deal. Youve got nancy pelosi threatening to have her democrats who are now necessary to pass the deal in the house saying well, if you want our cooperation, we better get some kind of immigration deal. The noise you hear behind me, there are couple hundred people gathered in the russell rotunda demonstrating of dreamers bill, in favor of immigration bill. Break down what happened in the senate where, were going and the hurtle in the house. First, what theyve proposed, schumer and mcconnell, the leaders in the senate is a twoyear kind of cap bill, the spending cap bill which raises the spending caps for domestic spending and military spending, it would raise about 300 billion in the two areas over two years in additional spending. Provide veterans funding, Disaster Relief for the victims of the various hurricanes which hit the united states. It would provide funding for opioid and drug abuse treatment programs and of course open the path to infrastructure spending. All in all, it also raises the debt ceiling, liz, it could raise the debt ceiling to allow the u. S. Government to borrow over one trillion dollars to fund our operations at the government level Going Forward for the next two years. Whos opposed to it . Lets get right to it. Youve got people opposed to it on the republican side as well as the democrat side. Joe crowley, he wants immigration deal, heres what he said. Simply because mr. Mcconnell made a deal with the minority in the senate it is not applicable to the house of representatives. Never has been. Never will be. Reporter and try and get this past the fiscally conservatives like republican mow brooks who said this. Im not only a no, im a hell no. I dont know if we have enough votes amongst the members to stop this legislation. All i know is that unfortunately, those who vote for this bill are betraying our countrys future. Reporter all right, so if youre holding your breath, were not sure when the senate will vote on this compromise, once they pass it and it is expected to pass in the senate, its being praised by people on both sides of the aisle in the senate. Once it passes, it will go to the house and paul ryan, speaker ryan in favor of this compromise is going to have to work his magic either to convince his members to vote yes or convince nancy pelosi to free up some of her members to vote yes, and have the democrats push this over the finish line. Wow. Back to you. Liz is nancy pelosi reading from the phone book right now . Shes in hour five . I cannot see what shes reading but look, quite seriously, we could joke about this. There are people who say all she is doing is posturing, trying to hold the compromise hostage to get the immigration deal, and you have Chuck Schumer in the senate willing to go forward with this without the immigration part because hes got the agreement from leader mcconnell to go to immigration whether it passes or not but a fair play on immigration in the sgrufuture. Liz it appears that nancy pelosi is shedding some tears while reading letters from dreamers, from the children of immigrants who would come here to this country, illegally, and who have known no other home. So at this moment, this is now hour, five hours when did she start, brad . About five hours and 8 minutes ago is when nancy pelosi began. This is not a filibuster. You may know of the famed filibusters where rand paul will get on the floor and speak for hours and hours and hours to hold up a vote. This does not fall into that. Were going to keep an eye whats going on at the moment. But we do need to tell you that tomorrow on this program, weve got house ways and means chair kevin brady, who will be a key, key linchpin of this discussion about whether to pass that, and, of course, the democratic leadership congressman joe crowley whom you just saw in adams report. The bulls were poking their heads out this morning from wall street caves to see if the coast was clear, and it came in the form of wells fargo. And an analyst put out a note saying quote the worst is actually over for stocks. Thats pretty gutsy. Hes been telling clients to put cash back into the stock market because he sees a 10 rebound from this selloff that could happen as soon as the next three months. To the floor show. Teddy, you know what . You put that on paper, and somebodys going to shove it back in your face and say, you were wrong. I dont know, maybe hes not, or she, they didnt have the name. What do you think . Well, i think, you know, unless were proven otherwise, for the moment, i still view this is the last four, five days of negative volatility, as nothing but a correction in an upward trend. When we get these corrections, liz, and spoke briefly about it yesterday, theyre sharp, fast, ugly and expensive but doesnt last too long, and i think the lines of least resistance for the market are still up, not down, i mean today is an interesting day, theyve been trying knock them down today, but it looks like they want to go higher. Liz Kristopher Harvey at wells believes they are going higher and dive back in, but before anybody takes that advice, ira, youve always been pretty bullish, is that it . We had two to three days of extreme volatility after nothing for more than a year and a half, and suddenly its back to the cloud . I dont think so, i think youre in a trading fair market that has upside bias but the volatility you are seeing will keep people scared, and as i said on the show last time. We front loaded so much good news that the market probably has a shortterm top. You get these corrections and got to learn at times, pick up your chip, go have a drink, dont sit at that table. Thats where i think were at. Liz okay, and mark, we got inventories again with oil and to watch oil continue to move down on a day where we are seeing the rest of the market move higher, whats that about . You know, it looks like its an economic thing and its always dollar related, so just to remember the dollar has been strong and a selloff. If you want to know why we sold off midday, invite you to take a look at the 30year bond. The 30year yield now is at 3. 1 . That is exactly when we torched. So, you know, whats caused us to start this volatility . You know, the whole vix blowup for monday was the story. What caused the selloff . The 10year note and the 30year bond. That story has not stopped. Until we see bonds and stocks stop correlating, were in for trouble, i dont know if the floor is going to fall out again, but im not sure were going to get the rally everybody keeps looking for. The board, 2. 84, it moved to 2. 85 for the 10 year. Early monday it was 2. 88. Not that far from back to the 4 1 2year highs. Teddy, ira, mark, catch your breath and keep going. Thank you so much. Not just the market on a crazy rollercoaster ride. The closing bell ringing in 48 minutes. Bitcoin all over the place after a stomach dropping start to the year. Goldman sachs has come out. Wait until you hear what they say. This thing could go all the way to zero . But if you cant handle all the volatility, one investor is here to tell you that there is a way to buy into the cryptocurrency bet without touching cryptocurrency. My guest tonight is the anchor of countdown to the closing bell, please welcome, liz claman [cheers and applause]. Liz man, fox business took over the daily show last night. My chat about the market mayhem with trevor noah of the daily show straight ahead on countdown. Ill tell you what they served in the green room. No matter how the markets change. At t. Rowe price. Our disciplined approach remains. Global markets may be uncertain. But you can feel confident in our investment experience around the world. Call us or your advisor. T. Rowe price. Invest with confidence. Liz lets say you had a stock that was just below 6,000 and then it jumps to more than 8,000 over 24 hours, not six months, just a day . You like that, thats bitcoin surging a couple thousand bucks after plunging monday to less than 5947. Look at it now, 8041. Goldman sachs says if youre buying, maybe you shouldnt. Goldman came out and is saying today that most cryptocurrencies will likely crash to zero eventually. Yet the bank was bullish on the Underlying Technology which you may have heard this term, block chain, saying it clearly has a role in many types of transactions, a digital ledger that can make more transparent all kinds of financial moves. Cashing in on bitcoin, that premises what Reality Shares nasdaq next jen economy etf Exchange Traded funds does. Mouthy moniker for what it is and its a block chain etf. Right now, its flat at 23. 07. Joining us is the guy who runs it, eric irvin. What did it start at . 24. Liz it hasnt moved too much. We had a nice run off the bat of almost 25 and its backed off with the stock market correction. Liz maybe a better way to show, i dont want to say froth, that has a negative connotation to, it but the excitement is you opened with 2. 5 million in there, and now what is the etf have . Its 102 million as of last night, and to put that in perspective, thats one of the Fastest Growing etfs since the launch of etfs in general, its very, very exciting. Liz the top of it, this name is mouthy, thats for a reason, youre not allowed to put the word block chain in there . There is so much confusion, what is block chain and cryptocurrencies, the sec didnt want that confusion to get in the hands of individual investors. We decided to change the name. Its the same strategy, but Block Chain Technology meaningfully different, miles different than cryptocurrency. Block Chain Technology is like the internet. Email was the first killer app of the internet. Bitcoin was the first killer app of the block chain but the block chain is so much bigger and will purvey almost every different industry. Liz what surprises me, and you got to explain this to me, the names in here are old tech names. Intel, ibm and a few new ones, ten cent and accenture, why is that a block chain . I know theyre dipping into, it cant i buy into bigtime etf . No, just like any new big innovative technology, its going sweep the nation and sweep all these different sectors, you need something more dynamic. A third of the companies are in financials, a the love the financials will be completely disintermediated if they dont get on board with the train. This is a tenyearold technology, its not like we just got here today. Intel has been working on this chip that could potentially increase revenues by 20 . Liz why this and not a bitcoin etf . I know the sec has been a flatout no to the winklevoss brothers in this seat saying they have tried and the sec shut them down on putting together a bitcoin etf . Just like, i think the best way to think about it is bitcoin or other cryptocurrencies or Digital Assets are commodities. Theyre volatile. They have a lot of volatility, and some of them like Goldman Sachs said wont even make it. They have no use in society. Many are scams and outright frauds. But the technology the underlying. Thats the thing were invested. Liz eric, i really need to know, because as we look at these new technologies, what do you think happens . Because it was just day before yesterday that two etfs, totally different business, they collapsed, because they didnt have enough to back up in assets what people wanted to pull back out. How confident are you that that wont happen to the block chain etf . Meaningfully different. We invest in stocks, we buy and dont use leverage, the etfs were investing in derivatives, when you add a derivative with the etf it adds element to the equation, i think of shorting volatility, picking up pennies in front of a bulldozer, its eventually going blow up in your face, and youre going to get run over. Yesterdays was a perfect example of that. Liz can you go to gas stations and squish a penny without getting involved. You know the little machines. Exactly. Liz well watch the development of your block chain etf. Dont say block chain, liz. The sec will get upset. Eric, good to see you. Thank you. Liz boeing flying the friendly skies with the Dow Jones Industrials and boeing a part of it, up 203 points. Boeing at the top of the heat map here. Worlds biggest plane maker leading the dow 30 after news to acquire embraer is moving forward. And lets go full on diagonal. Apple, the biggest laggard on the dow 30, surprising since the iphone king is partnering with Goldman Sachs to totally revamp the payment structure for one of the worlds most popular gadgets. Hillary vaughn live outside the apple store in santa monica, california to tell us if iphone users are ready for a whole new way to pay . Countdown coming right back. Dont go away. Dow is up 205. Infrastructure mlps . Think again. Its time to shake up your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. Before investing, consider the Funds Investment objectives, risks, charges, and expenses. Read the prospectus carefully at alpsfunds. Com amlp tripadvisor compares prices from over 200 booking sites to time to bask. In low prices find the right hotel for you at the lowest price. Refreshing, isnt it . Tripadvisor. barry murrey when you have a really traumatic injury,g we have a short amount of time to get our patient to the hospital with good results. We call that the golden hour. Evaluating patients remotely is where i think we have a potential to make a difference. barry murrey we would save a lot of lives if we could bring the doctor to the patient. Verizon is racing to build the first and most powerful 5g network th wifrom thoandsgs like preof miles away. Urgery as we gefaster wireless connections, itwill mimic theovement, justoth almost noelay. Nrgery who knew a scalpel could work thousands of miles away . sighs i hate missing out missing out after hours. Not anymore, Td Ameritrade lets you trade select securities 24 hours a day, five days a week. Thats amazing. Its a pretty big deal. So i can trade all night long . All night long. Is that Lionel Richie . Lets reopen the market. Mr. Richie, would you ring the 24 5 bell . Sure can, jim. Trade 24 5, only with Td Ameritrade. Liz youve heard of financing your house or car . But what about financing your iphone. They are costing a thousand dollars for an iphone x. Take out a phone mortgage, and Goldman Sachs is ready to help you do that i swear to god. The wall Street Investment firm is in talks with apple to offer financing for consumers who want to buy iphones but also might want to buy pricey gadgets like apple watches. Hillary vaughn is live at apple store in