Joining me a. R. Gibbs. And john eckridge. Erin, we were talkin talk wee talking before the show. Who a weekly letter to our investors letting them know what was going none the market. Charles did you use a lot of whiteout . There is still a lot of debate on what triggered this which makes it hard to understand how we find a bottom if we dont know what pushes us over the cliff in the first place . We are seeing a huge selloff. We know we are going through a reevaluation period. There wasnt really any new big catalyst for the selloff today. You have got to reevaluate, what are you willing to pay for equities given there are some good starting positions. The economy today, we saw jobless the claims at a 45year low. Corporate earnings continue to be extraordinarily strong. Along with strong guidance. What do investors base this on . Do you make adjustments with the metro outlook for you the comed overall . Is there a negative wealth effect going on that could change all your work . We are down 3 for the year. People wont notice that on your statement. It will look like your december statement at this point. I think for now investors need to remain calm. For us things are starting to loolook attractive and we are getting to more reasonable valuations. Charles coming into the last couple sessions, investors werent panicking. But the last 48 hours they are getting more concerned. Fear can create additional fear. Is that part of the process, though, down vestors standing right now pretty firm, do they have to be spooked out of this market to find a bottom . I think that kind of today it laying is needed. I thought we might have gone the it on tuesday. But i think, you know, the big thing on that fear is we have been walking through the plains of kansas and we hit a tiny hill and we think its horrible because things have been so smooth and easy getting here. There is one thing folks are missing. We heard Interest Rates and the bond rates are going higher and that is what is spooking people or macro economics. I think both of those can be quickly count. If Interest Rates were the problemming financials wouldnt have been the down mover. What we are having here may be a classic mini tbhubl volatility. All these volatility instruments have blown up. Especially the inverse volatility instrument. There has been a short volatility trade for a year. I bleach thats about over. Im getting kind of optimistic. Charles it may be a while before we complete the postmortem. But it does recall, john, 2 2007 and 2008. And all of a sudden the values of their homes are half. We are not talking about anything like that, are we . No. Back then the backdrop was different. The world was going into a big downturn. And thats not where we are today. Looking forward 12, 16 months out thing look pretty rosie. Valuations were a little stretched and now they are more rational. This is a volatility extra lever etf selloff correction and it should stabilize from here on out. Charles two week ago we heard the dollar was too weak and mnuchin shouldnt have made the comment he did. One of the issues i have is every day its a different culprit. Are we adding more hysteria to this as we grapple for answers . Every type they turn on tv there is another reason du jour. At the end of the day this market has not had a decent correction in well over a year. That really is the reality. The market doesnt been down 4 last year. Going into late january. So we are only down 3 for the year. I think calm, coolness is the right call. If you are an investor in this market i would be nibbling at the valuations. Charles right now the world has the wind to its back and it feels like we are going to take another leg up with respect to our economy. But can we be victims of our own success . Is there a point when things can get too good and will that justify the market being lower . I think this is more we dont have to go as far back as 2008. We had a flash crash and we saw the viks spike up. The vix spike up. It added up for the year with a lot of choppiness. And it still ended flat at the end of the year. Well have volatility and down days, we have have reevaluation and we can end up with an up market by the end of the year. Definitely its the first time. Charles d. R. This most of people are sort of saying most of experts are saying we have been through it before. We dont want to dismiss the worries of folks who havent been through this before. But what happens if it does keep going down. When do you start to change your mind if this doesnt stop . Thats a great point. We are at a good Inflection Point right now. We have hit the lotus day, and below this are the overnight lows between monday and tuesday. So this is a very important point for to us look at. Going down below here, we are still a long way away from many of our technical analytics. We have the correction now. If we tack on another 3 to 5 below this let me ask you about the moving averages. I like to use the 50 and 200 day exponential averages. Is it conceivable we have to test 200day moving averages . That would mean a lot more pain wouldnt it . That would be a bunch more pain. If we got down to the 200 here, Something Else will have to break on ther than the investor fear and the overboughtness in this volatility crash. Everything else is looking too good on the macro side. Charles what are you telling your clients . We are seeing a sea change from a doveish to hawkish. Charles when did jay powell become a hawk . He needs to address inflation. He is more doveish in general, but the fed will have to start fighting more inflationary pressures. The q. E. Is done. Charles the senate ready to vote on a twoyear senate deal. But one republican senator Holding Everything up. Its easy to think that all Money Managers are pretty much the same. 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Thats why retailers rely on comcast business to deliver consistent Network Speed across multiple locations. Every corporate office, warehouse and store near or far covered. Leaving every competitor, threat and challenge outmaneuvered. Comcast business outmaneuver. On the only bed that adjusts on both sides to your ideal comfort, your sleep number setting. And snoring . Does your bed do that . Right now during the ultimate sleep number event, save 50 on the ultimate limited edition bed with adjustable comfort on both sides. Ends soon. Visit sleepnumber. Com for a store near you. Now its republicans in charge busting the spending caps. The democrats are complicit. Both parties, the establishment wants to spend more money. We have a 20 trillion debt and we are going be adding a trillion to it because of the spending deal . This is not good for those of us believe you can get too much debt for our country top bear. Charles that of the senator rand paul telling neil cavuto why he will vote no on the budget deal. Jason chaffetz, former chairman of the House Oversight committee. You think hes doing the right thing here . Lets have a tiny bit of a debate. Senator paul brings up a good point. Hes saying lets vote on an amendment to hold the budget gaps in place. This is a multi trillion dollar commitment the United States is going to make and they have had almost no debate. A lot of frustrated republicans. Senator paul is saying in principle you are opposed to obama deficits but in favor of trump deficits . Charles the republicans cried, screamed and warned us every single day that president obama was running up the credit card. Now that they have the credit card they run out and use it. You dont come out and say you have got a deal unless you already know you have the backing of the rest of the party. They may still get to 60 votes. But you have fiscal hawks who wont vote for it. I think a lot are teetertottering. I dont know what will happen in the house. You have a split in the Freedom Caucus as to whether they would vote for it. But the democrats should take this deal. It gives them everything they asked for. Charles when Chuck Schumer was talking, it was like he was talking to nancy pelosi. There is nothing that got cut. Charles the Freedom Caucus and nancy pelosi join forces and hold their ground. Are we in a bizarre world . Nancy pelosi has been all over the map. I dont know what she is trying to prove. She was in favor of it, then she was opposed to it. Now she is in favor of it. At one point democrats were quhipping people to see where necessity were at, if they were against it. Everybody is trying to play hot potato. They dont want to vote for it so they are trying to get their neighbor to do it. This has a debt ceiling it that nobody wants debt yilgt that nobody wants to be kobled with. Charles we are getting rid of the sequestration. I voted against that, by the way. Charles it feels like there is no other form restraint for folks when they get to d. C. They just all spend spend spend. The problems we have arent a revenue problem, they are a spending problem. You keep using that credit card time of and time again. Rand paul is making the point, when the democrats are in charge, the republicans have all this beer muscle. But when they have the levers of power, they are putting record spending at 13 in discretionary spending. I cant believe there is a single democrat that hesitates at this. Charles they have to be playing an odd, weird game. We talked about 7 00 being somewhat important. Is it critical he stops before 7 00 . I was told he will try to hold the floor until after 7 00 that will push the window to hold the government in a shutdown. They are telling the people in the house be ready to vote at any time. They dont want this to have the light of day. More sunshine on it, it is full of spending you have never seen before. Charles we are going to continue our coverage of this battle on the budget with an allstar Political Panel next. So from the two trucks over here. I want you to pick a new truck for your mom or dad, knowing that they could possibly pass it down to you one day. Oh. Cool. But before you decide, you should know that chevy silverados are the most dependable, longest lasting fullsize pickups on the road. Which means that ford f150s are not. giggles which truck would you pick . The chevy. There you go. Boom. That was obvious. Plus it looks cooler. No doubt about it. Now they know what to get me. Mom stuffynosecold nosleep mouthbreather just put on a breathe right strip it instantly opens your nose. Up to 38 more than Cold Medicine alone go to breatheright. Com today to request a free sample. Charles republican senator rand paul is holding up the senate vote on the budget deem as the midnight deadline quickly approaches. Here with me now is deneen borelli, Allen Stuckey and mark lauder. Let me start with you, mark. You know a lot of the key players involved in this. Some people are somewhat surprised republicans are in favor of such a massive spending bill, removing the restraints that will make our 20 trillion in debt mushroom that much quicker, particularly given the fact that Interest Rates are going up. You have to get 60 votes in the senate. There is no way they will vote on anything that would control spending. Thats not the democratic way. The democrats were insisting for every increase in military spending, we also had a spend a dollar on domestic welfare programs. We need to elect more republicans to the United States senate so we dont have to go to the democrats and constant lire get those votes which drives up our deficit. Hand pace our ally in this. He gets it. This is a huge, massive measure im surprised so many republicans are for. It might can the only thing on the table. But i understand rand palms complaints when said this shus shouldnt have bent process. It shouldnt be a process where a few people go behind closed doors, come out with a measure and say vote on it or else. Charles as you were speaking rand paul had notice board put up. A streetcar named waste. A 1. 6 million streetcar. We got money, right . Trillions of dollars pour into the coffers, and government spends more, no matter what. And part of that is the waste. And it makes people sceptical. If Chuck Schumer is for this, you now its a bad deal. But in the real world, anyone who works for an employee i will get back to you in five months with what you need. Congress works for us. Their job is to pass a budget when it is due october 1. They are failing americans and need to do their job. In the long term it runs up the debt. This takes the budget deal off the table because everything is about the election. Im not sure why rand paul is dissing dolly parton. But hes showing egregious examples of government waste. You are still saying the democrats are strong arming you. If its that bad. If its that tough, why doesnt Mitch Mcconnell change the rules in the senate to get this done the right way to save the American People the pain of this stuff. A year ago the president had his first budget blueprint which balanced over the course of 10 years. They will put out another budget blueprint monday that will cut trillions of dollars in the deficit and reduce the gdp. The president is taking the steps to show leadership. Charles mcconnell is going to use the Nuclear Option . Lets remember. Look at what happened to the judiciary when the democrats went to the Nuclear Option. They came to regret that later under President Trump. Charles if you went there and got things done and the economy grew the way you think it will grow. Do you think Mitch Mcconnell should change the rules . Yes, i do. I think that was a great suggestion. Charles thank you very much. In the meantime markets are down, but Consumer Spending is rising and markets are through the roof. But is the economy Strong Enough to turn the markets around . Well discuss that next. With fidelitys realtime analytics, youll get clear, actionable alerts about potential Investment Opportunities in real time. Fidelity. Open an account today. How do you win at business . Stay at la quinta. Where were changing with stylish makeovers. Then at your next meeting, set your seat height to its maximum level. Bravo, tall meeting man. Start winning today. Book now at lq. Com charles well despite another major selloff in todays trading Consumer Spending continues to rise as demand demands for goods and services continues to really mushroom. Im calling this the golden age of materialism. Americans arent holding back from buying designer brands and they dont care how much it costs even if it means putting the purchases, here is to discuss the chief Research Officer at H Squared Research and analyst of course and eric schiffer, chairman and ceo of the patriarch organization. You know, im looking at these earnings the last couple of weeks, coach which is now called tapestry, crocs, michael kohrs, and theyre blowing them away doing extra ordinarily well. Even on the more basic level amazon had a little bit of a dip today. Charles but their numbers were phenomenal, these are all Consumer Discretionary items, things that we dont need. How can people be out there spending this kind of money against the market thats doing what its doing. I mean which one would change first . Well theres two things. Number one its called frugal fatigue. Weve had many years of just the American Consumer saving saving saving because we dont know what was going to happen to the economy so people were saving, now all of a sudden now that they feel better theyre going out and sending but what people have to understand theres a difference between the market and the economy. Even though the market is having these really wild swings, the economy is going along as progressed and economists have been predicting we were going to have this. Charles but people are spending money on things like crocs, a pair of crocs, 850, sold out in a matter of hours, okay . Look at those folks. 850 crocs, all right . Is that a red flag to you when you see Something Like that . You know, we saw this a little bit prior to the recession, when people were going out and just spending relentlessly on the most silly things. You remember seeing kim car kardashian amid paris hilton, this was a little bit similar but this is a sign, i mean as i said, we have been building up to this and if we do see a correction especially what we see in the market so its probably going to happen but the sign that people are actually going out having the money to go ahead and make these discretionary purchases is amazing. Charles eric one thing we do know and we saw yesterday consumers are using credit cards more. Remember we shifted to debit cards during the Great Recession but now were more confident were using credit cards i guess theres a Tipping Point where we used them too much but a certain degree also is a reflection of confidence. Where do you stand on this . I think youre going to see it expand. Whats interesting, look our economy when you go back four, 500 years credit has been the driver of all of it and i think credit is a big part of this today. Consumers feel confident. When they feel confident theyre more apt to spend. I think the market theres a slight disconnect because of the success of the economy and the success is whats causing this and its a shortterm cause. I think youre going to have a lot of volatility but the good thing, charles is that this economy has a lot of room to run a lot of room to run and i think youre going to see it continue to grow and thats what i believe and with that, ultimate ly the markets going to align with that and so as we build profits, the market will ultimately track at some point, medium term longer term and youll see volatility during that period but thats okay, the economy is strong. Charles so the bottom line too and you agree with the work you do particularly on a consumer is 70 of our gdp, they have enough room as their wages, you see the wages are going up they have enough room to keep this going . Wages are going up people are feeling richer companies are putting out bonuses because theyre able to do so because of the tax reform that were seeing so were going to continue to see that benefit the consumer. Its been a long time coming. We knew this was going to happen , so were probably see this continue for another two to three years. Charles i dont know eric. The 850 crocs, did you go and pick up any i know you have a lot of people in your family that pete like them. Know, i think youll see even bigger spend. I think we havent even started. I think its going to get much more extravagant. I like your phrase for this economy and that, with that comes extravagant and we havent even hit the top. Charles it does remind me of like 1925, 1926 the golden age of materialism. Thank you both very much appreciate it. Thank you. Charles coming up the dow plummeting in the final moments of trading ending down another thousand points and when we get back im going to point out a few things to you and when to start buying its not about picking the bottom. Ill tell you how to do it next. Charles amazon introducing free two hour delivery from whole foods stores to its prime members in four cities austin cincinnati dallas and virginia beach. Starting to rollout that merger big time. Charles well, it was another crushing session for both wallet s and spirits the Dow Jones Industrial average down over a thousand points, 4. 2 s p 500 down a hundred points almost 4 and nasdac down 275 points, 3. 9 so the big question now is when does the selling stop and when will this market reach a bottom . You know, it actually recalls one of the more famous scientific a body at rest will remain at rest unless an outside force acts on it and a body in motion at a Constant Velocity will remain in motion in a Straight Line unless acted upon by an outside force of course thats newtons first law of motion. Now the contributing factors to todays selloff included a spike in fear causing panic and some forced selling to makeup for those big portfolio losses so remember last friday, that selloff i had a lot of investor s asking mostly what do i buy but now many are sort of spying the exits and ready to sort of chalk this whole thing up to personal bad luck. That line that you always hear every time i get into the market it goes down. At the start of the year when record amounts of cash came pouring into the stock market individual Investor Confidence spiked and hit 60 bullishness according to the American Association of individual investors now that number is at 37 and more than likely could actually go up to 3 next time they update this next week so i continue to say a large part of the selling is due to, you know, scared individuals right now being scared out of this market and, well, its really working. You know, and i think some of it has been deliberate and of course the people who are forcing this to happen are like the cool hand loop kind of saying now youve got your mind right. I dont want to single out individual investors because they were very giddy too in fact according to Investor Confidence index the worlds sophisticated investors became very optimistic last month so its really optimism on both sides because they shake out the weaker hands and i dont want you to be one of the weaker hands who just got in this market and gets shaken out but there is a problem and thats margin calls starting to get there and margin calls well in fact on the New York Stock Exchange margin debt hit tops in three of the last four market pullbacks, so we could see from this chart that its gone up a lot as these margin calls come in its going to put a lot of pressure on people to sell their winners to make up for the loser s. Now theres still lots of investors asking when should they buy this market and theyre looking at the charts to provide something of a roadmap and i could tell you when the market starts plunging like this charts really arent that useful, you know normally theyre pretty good at pinpointing bottoms but when its like this and its tough i will say for me tomorrow , and next well certainly tomorrow for the dow id like to see 23, 600 hold if we get down to that level, but more importantly, your upside levels thats when investors should consider using the chart that positions and the big upside number for me the big test begins at 25,000 for the dow, a close about 25, 200 would make me an aggressive buyer and by the way i wanted to share names with you tonight but im going to hold off. Ive got a list its growing im very confident ill put that on my website in the meantime after the bell we saw former hot stock s just come out of the heap which has been a trend this week right with strong earnings, remember snapchat and twitter had great great reactions to earnings so right now fire eye a name i used to pound the table on looking really strong, nvidia posting amazing numbers and they expect much better guidance, aig missed. Here is the thing though initial selling was curved by manage am s comments and then acti vision which offered extraordinary guidance for the Current Quarter well above wall street estimates so this is developing into an amazing place where we are right now and its an amazing chance to make money and i know youre afraid and i know many may become even more afraid but the more afraid you become the greater the opportunity. Again make sure you get my commentary at wstreet. Com where soon at a place where you should be buying and maybe come out of the foxhole. By the way all the market volatility leaving some to wonder where do we go from here so ill bring in more experts and get their advice and their thoughts, right . And well discuss it right after the break. Charles another day on market turmoil the dow plummeting 1000 points, so how do we deal with the next several days in the market. I want to ask steve dudash, president of ihc Wealth Management and steve let me start with you. Its a tough one, you know, of course if youve been around for a long time youve been through this by the same token though the numbers are so much larger they certainly grab your attention when you see thousand point market session losses for the dow. Yeah, youre right about that , but i just wanted to say one thing on your comment that you just said before the break, youre spot on, when you feel that fear, the more uncomfortable you are to buy in, thats the time when youre supposed to be buying in. Thats when youre taking advantage of peoples over reactions and the emotions getting the better of them and not just looking at the numbers of it so you are 100 right about that but yeah youre right the numbers are big when you see a thousand point losses. The reality is its all, youve got to put it in perspective. Its a thousand points but not the biggest one day percentage loss by a long shot. Its just the numbers are bigger so the dow number looks like its a thousand over and over again. The reality is this is not the tech bubble this is not 08, the markets are fine its actually healthy for the markets to do this and pullback. It usually happens once a year and i would argue that its actually been abnormal that in the last two years we havent seen a pullback at some stage of the game because i mean its just what you see in a normal economy. Charles those are great points. People want to know how they handle this though, right because for the most part, the last big crash we had nothing worked and, you know, whats the strategy or are there times, when nothing works . If youre wrong only on these big down days nothing works and you saw that last week, or earlier this week every single sector was negative. Utilities were a little less negative than the rest of the world but everything is down so its okay if you see your stocks in the red on days like this. Its what comes in the after math that you can position your portfolio a little more defensively and thats where we start looking at that. Charles whats defensive these days because utility stocks have been under pressure even before this week and last week, and you know thats where youd think you put widows and orphins right its a safe place you get yield they had a great beginning of last year and all of a sudden the wheels have come off there so what is safe these days . Yes this year its not about your high dividend yielding stocks, utilities, telecom, real estate ultimately because yields are going up in the credit market why would you take on the risk for equities to use as proxies for bonds so they may struggle as Interest Rates rise. Your defensive for us is more about finding attractive valuations and Consumer Discretionary is one of our absolute favorites for this year particularly with tax reform. Charles i love Consumer Discretionary. Ive been founding the table on it, im with you a thousand percent there. Steve, having said that, how do you convince people though because one of the things ive noticed is that when you say we come and tell people to stay the course they often end upholding stocks that they should be selling, theres some names that are broken down with earnings season some names reveal themselves we saw a lot of the dogs in the dow theory people were buying ge at 18 and 19 thats another part of this too that there are certain stocks that you should consider selling too. I would argue that this is a time when youre supposed to get aggressive not defensive. You want to go on the offense. You want to go for things that are in the next five or 10 years the big growers, tech sector. Theyve gotten hit pretty hard in the last few weeks and are also the ones most likely to have better and better earnings in the next couple years. In fact this quarter earnings have come out with sales are up 9 earnings per share are up 15 that doesnt sound like a bad economy to me. You know, Interest Rates i know people worry about Interest Rates rising theres a global put out there right now on Interest Rates. They cant go through the roof, so take advantage of these reactions of the market and this is when you should be buying into and Consumer Discretionary completely agree with you people are feeling better about their jobs. Charles theyre buying 850 cro cs, are you kidding me of course theyre feeling better. 850 bucks are you kidding me . They got to be feeling really good. Erin last word to you. I would just say on the tech sector, they have been driving in the past for the future they actually have below average growth and above average valuations, so if anything is more vulnerable for these kind of downturns charles quickly financials and Interest Rates go up theyve been a disappointment this year. They actually have some of the highest Earnings Growth and more what will drive the financials is particularly with tax reform they start paying out dividends. You may not see it in the price returns. Charles id also like to see banks return to good old fashion banking like make some loans. Steve you were great thanks a lot appreciate you first time on the show. Thanks for having me. Charles erin you were pretty good too. Coming up more reaction to the days 1000 point drop on the Dow Jones Industrial average be right back. Today were out here with some big news. Jardiance is the only type 2 diabetes pill proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and heart disease. And lower your a1c. Wow. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. 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Learn more at cancercenter. Com mom stuffynosecold nosleep mouthbreather just put on a breathe right strip it instantly opens your nose. Up to 38 more than Cold Medicine alone go to breatheright. Com today to request a free sample. Charles the dow, s p and transports all closing in correction territory, so closing me senior managine director Heartland Company and back with us eric schiffer. Jim let me start with you. I know youre the kind of guy in this environment youre salivating right . You were buying today. Yes, absolutely. Look this is classic on the downside just like last year in january was classic on the upside. They were melting up the market was doing better than the fundamentals now the market is doing worse than the fundamental s and you could get more stress here and get margin cold and have a financial accident whenever you have this much pressure in a compressed period of time but the market is getting much worse than the fundamentals if you boo a little bit every day when the market is down and take a multimonth view youll end up making money this is when youre supposed to buy stock not in periods when theyre melting. Charles this is of course when you will actually buy the bottom because youve got a disciplined approach i love when people tell me they pick the bottom out of thin air because you got lucky or youre lying but if you are consistently sticking with a buy program then youll certainly be there. Youre averaging into the bottom. Charles what areas were you focused on . Well ill also say just like almost everything worked when the market was going up everything is going down when the markets down and i think everything will do fine but i particularly like financials. Theyre going to be i know everybody is saying that but talking to the companies is true financials are going to print money in the environment that were going into and also you are going to get another shot here in technology and infrastructure. Charles seems to me the big names have forsaken their core business some of the large banks dont lend like youd think and then the jpmorgan of the world theyre lick casinos a quartertoquarter all depends how much trading revenue they make. Well but their core business will do a lot better loans will accelerate the amount of loans will accelerate theyre spread on the loans will accelerate their loan loss reserves will continue to go down, and you have a more volatile environment Scott Trading side of the business will do better so theyre really poised to do well charles eric we talked earlier in the show about the consumer extra ordinarily strong right now. We know that we look at the data , you know whether its the volts report more people are quitting their jobs. We look at the wage increase from friday number and it feels like theres going to be a surge in how much money people are making. How does that impact the rest of the economy and how will that impact the stock market . Well i look at my payroll and people are getting money back like crazy. You know, acrosstheboard all different jobs and so you know what are they going to do with it . Theyre going to put it into play and thats going to ultimately serve i think these companies on a profit level and ultimately these things align. The stock market will align with fundamentals. I think its actually probably a lot closer to where it should be but were going to see growth over the next year to two and were going to see Profit Growth in a significant way and the market will drive to that. This is the time if youre going to be smart this is the time where you make the good investment where you get Quality Companies where the market is missing the valuation based upon where the economy will run. Were not in a bad economy. This is different than other times in which the market was hit, the economy was bad. We have a Bright Future ahead of ourselves, so i think its a smart time, a great time to be making investments. Charles you know, jim to that point President Trump tweeted yesterday about the market not going up despite a good economy. You know, we know in the past that there have been when we had green shoots or things like that the market would go up after the financial crisis on small things and it feels like we learn how to celebrate mediocraty, and were not accustomed to the idea we can have annual growth of 3 or wage growth or the things were starting to experience. Well i think the market was starting to recognize it and probably in some stocks recognized it too much on the way up but with the shot like this what youre getting is the fundamentals continue to improve as the market is going down for technical and nonfundamental reasons aside from the gradual tightening of the financial environment but i think whats going to happen here is as the news gets good and stays good youre going to get a secular re valuation of multiples up. Charles quickly you have faith in jay powell not messing this up . Yes i think hes a pro. Hes got his work cut out for him. We have to understand that we are going into a tightening monetary environment but i think hes a seasoned disciplined person. Charles all right thank you very very much eric thanks a lot as well and of course thanks at home for watching we know its a tough difficult time. Please be calm do not panic and now the man himself is next, lou dobbs. Liz good evening, everybody. Im david asman in for lou dobbs well, explosive new details in the uranium one clinton corruption scandal, an fbi informant telling congress that russian operatives paid out millions to buy influence with the Obama Administration and the clintons. Our special guest tonight congressman jim jordan whose calling for a Second Special counsel to investigate actions by hillary clinton. Also we are now five hours away from the second Government Shutdown of the year, Senate Leaders had struck a deal to keep the government funded past midnight but fiscal conservative in the house and senate are protesting spending hikes in the bill. We have a live report in moments and we take uphe
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