a question, why is the market so sharply lower when interest rates are clearly coming down? >> everyone is focusing on powell being too late. the key thing is tomorrow's jobs report. we get a weaker than expect a jobs report everyone will panic, convincing date of the economy is rolling over quicker than the fed can get back at it. stuart: very soon we expect to hear from the president speaking about the prisoner swap in progress. what a show, what a day, so much happening. we are out of time but let me handed over to coast-to-coast. you have three seconds, it is yours. neil: would have preferred waiting. we are following a sudden concern on wall street that had an hour and 1/2 ago. we got a slow down on our hands, fears of a slow down that whatever the federal

reserve does might be too little too late, a hetrick in numbers 2 days really rattled the markets and was interesting because they were coming one at a time. we had a spike in jobless claims use are coming, then the ism manufacturing index showed a slowing economy, second month in a row, that was the one that got the 10 year under 4%, the lowest we've seen since the beginning of this year, then construction spending falling for the second time. all of a sudden what you saw than is the fear index begin to spike at a 3-month high on concerns that everything we thought was looking so goldilocks isn't looking so goldilocks and that's a big worry. could this be overdone? i did notice in this freefall that there' s very little for investors to run to. they are not running to bitcoin or crypto currencies, they are

all tanking, not necessarily parking there money in oil or other commodities. they are kind of flat, not necessarily parking a lot of that in our stock market or any of our sectors in the stock market hence you get this volatility and these growing concerns who can't figure out what is next. one of the things we are keeping an eye on is whether this is much ado about nothing. we had a sort of built in view of where we were going, that the federal reserve was likely to look at cutting interest rates in the september. that and from 78 possibility to as of this writing about a 95% possibility, that could be wrong, it's an instant paul on politics, reflection of the moment and in the moment we've got an across-the-board selloff that has more to do with fears we might have taken the soft landing for granted, might happen, probably will happen

but growing doubts that it's going to be as smooth as we thought. to charlie gasparino and david asman who join us right now. get your sense about what the market seems to be saying despite all the consensus that was building, steady as she goes. charles: the consensus was the consensus of stock analysts. i can tell you i have been speaking all week to people who follow the bond market. economist, economic types, economists and they taught me one thing, and interesting conversation what can up in this election in a different way, a black swan event like a recession and i turned to a few of them and said a recession? markets are going up and they were like look at the underlying data and that's before today, consumer spending, one of the economist sources said consumer spending is hanging in but the sentiment

indicators from university of michigan show softer. there are some selected earnings particularly in consumer products that are getting soft. there's a bunch of data, unemployment claims are at their highest level in a year and job opening data suggests the labor market is weakening. this was before today and this has been spoken about in the market that the economy seems to be, you never want to put something definite out there, who knows? seems to be weakening significantly underlying the headline numbers and if there's a black swan event for this election it might be this. neil: the 3 of us, 400 years covering this right? i don't think i'm far off. i want to go back to your days

in the wall street journal, markets always overrun things, consensus is often wrong as charlie hinted but one of the big things we were counting on is the focus with the fed has been they are only going to move to cut rates if they see inflation slowing, now potentially, potentially, they are dealing with an economy that is a far bigger worry and not what's happening with prices behind it. has that changed the math a little bit? >> not only the math but the perception of the fed, the stock market does hang on every word the fed makes and remove it could possibly make but there's a limit to what the fed can do. the fed can't stop irresponsible deficit spending, the fed can't increase growth if they don't have control over taxes which may go up if harris is elected, regulations going up and perhaps just perhaps the fed as charlie was suggesting can't stop a recession.

there's another worry that maybe they waited too long to cut rates and that increases the possibility of a slowdown leading to a recession even more but what is most concerning today is the ism manufacturing number. in the last jobs report while we saw an increase in jobs and the government sector, the health sector we saw a decrease in manufacturing jobs in the may report, tomorrow we get the june jobs report. if we see a major drop in manufacturing numbers may be an increasing government jobs, it's an election year and they are still spending like crazy but if manufacturing jobs comes down again for the second month in a row that may be another sign we may avoid the soft slow down people were hoping from the fed and get a real recession and the fed can't do anything about that. neil: so we are not angry but

three old men weighing in honor selloff. thank you, guys. are you there? there we go. susan is a very smart read, technology, the fact of the matter is a stand on, metas and microsofts, got pounded mercilessly but since coming back, meta put out a great report a lot of people hope apple and amazon do the same and this is taken on much more added importance given this environment of a broad-based selloff that is sort of ensnared the nasdaq as well, it's down 1.5%, 242 points, the s&p 500 dominated by some of these tech names down 1% and the dow in and out of a one% fall. i want to go to susan to put the matter thing in perspective

because that is something tech enthusiasts want to see more meta-plaps. susan: we are coming off of one of the worst july's intech but these big tech companies are continuing to spend and spend big on artificial intelligence, ai, meta, mark zuckerberg, stock is outperforming after advertising sales came in $3 billion more than estimates, close to 3 billion people on the planet that use at least one meta-arwen, facebook, instagram, virtual reality each and every day and he still going all in on ai and virtual reality. >> all the jokes about the tech ceos talk about ai the whole time, it's super exciting and

it will change all these different things over multiple time horizons. susan: they will spend and spend big, $40 billion this year building out artificial intelligence and that is a huge number, that's expending an entire gm and met our spending isn't even the most across the valley, this week expect alphabet's president telling me they are spending at least $50 billion, at least $50 billion on ai this year. microsoft went even bigger tuesday night in their earnings when they up there spend 19,000,000,001/4, $80 billion in 12 months. we will see if amazon increases there spending tonight. apple tells me they may be the least across silicon valley but their business model is different. meta is the only one of the mag 7 that has been down since

their last earnings report and that probably explains their performance, microsoft, alphabet still dropping out of the earnings report, nvidia still the winner of the last year despite losing $1 trillion in value in july. nvidia report later this month, apple tonight, i will speak to tim cook, we will see if concerns might be a dragging on their overall sales picture. we expect revenue to go up 3%, not bad when you consider apple reported a drop in 5 or 6/4. amazon reporting tonight, amazon is expected to report $150 billion sales quarter and whether they are growing 60%, 70%. nvidia later this month. i could see you with our two chain kind of look in the future.

neil: look forward seriously to what they tell you because in an environment like this, ai is still a big thing, i take nothing away from that but if we have a slowdown in fewer folks can afford to keep buying these chips and these things, that could be some head wind but it's too early to tell but great job, look forward to your conversations. want to go to mario, you are clear on what is going on, new asset management and i did notice what is kind of interesting for me, following a lot of these nerdy things, this wall street development, this fear index as it is called, that hit a 3 month high today, shot up to 18. 5 but a lot of this activity with telegrams earlier this week tuesday when we saw an unusual number of options changing hands at three times

the normal pace, without getting too in the weeds here, some were looking at this market as getting too content. what do you read into that? are you feeling that? this goes back to tuesday but i'm wondering what you make of it today? >> great to be here. the overall narrative right now is very simple, whether it is the fed, the economy or even ai that we just spoke about, are we on the precipice of winds of recession or the sunshine of summer. if you look at the option activity the fix is spiking now. it has been a complacent market the last few months but if you look year to date it has been a strong market but numbers we've seen this past week let alone today, the ism number came in at approximately 46. and other contracting month of 2 in a row. we have bank of england come

out this morning cutting rates, the ecb last month cutting rates and i will bring this full circle, neil because it leaves us, do we have the hand in the back that we are too late to cut rates, will we have a soft landing, will we have a landing of 2024 or will it be a disastrous landing like 2020? my point in saying that is very clear. we are starting to have a weakening economy and it is very evident if you look at the numbers we are a debt fueled society, credit card rates, interest rates are at all-time highs, debt is at an all-time high, 401(k) withdrawals at an all-time high and we are gearing up for the seasonality of the market and as we all know going into september and october those are typically tougher times in the market and what happens during those tough times? the market traces. we could be getting great earnings reports and with anything i thought was a telltale sign with microsoft,

all this exorbitant amount of spending coming into this segment right here, we just looked at $250 billion the fab 5 are going to spend next year on ai, the point is this, when is this revenue going to start to come back is yet to be determined and i believe everything in the totality, the feds mandate of maximum employment and lower inflation is going to be a tougher balance and we are seeing it in the numbers and we side in the jobless claims, jobless claims came out. julie: are seeing it in the increased volatility, the fix index which is a read of that anxiety, fear, whatever you want to say, don't know if it's a great gauge because often times it swings like most emotions do, can't necessary lie on it but i do hasten to add that what had been a relatively quiet market until a couple weeks ago when we had swings rarely more than a

single percentage, but routinely now seeing swings up or down 2% or more almost every day and i'm wondering what that tells you? >> could be some trouble ahead and let's look at the vicks, conversely let's also look at the 10 year treasury. we just broke 4% so now we are starting to see our flight to safety, seeing that with institutional investing which if we look a few months ago in may you could look at the 10 year treasury, it was around 4. 7, not just four, that's a 20% retracement. look at the vicks today, the vicks is up almost 8% in a single day so now you're starting to see the option market playing volatility and that is evident with everything in the totality, the economic data, seasonal data and i believe it will be harder going

into a soft landing but the volatility we are seeing is deserved. we've been more or less spoiled with novel volatility. not that everyone should panic because it is up 7% but it is normal for the market to go down. it can't go straight up. if there is bad news, contractionary news, jobless data, earnings with big tech companies which are dominant drivers of the market, the market is allowed to go down. the question becomes is this going to be at the forefront of recessionary times where it's too little too late and we didn't nail that soft landing or is it part of we've had some bad news, markets still up 15% year to date approximately and this is a normal retracement within the market. if you take that we 10 year treasury and couple that with

the vicks we are seeing a flight to safety and more volatility ahead and that is a normal bet going into tougher months of summer. sean: q, we will see you later in the show. lower interest rates are generally a boom to markets, it remains the case and is driving mortgage rates lower to 30 year fixed rate hovering around the 63/4 of 1% so you were way under 7%. in the meantime we are waiting after we hear from the president, when is he speaking now? any second now just to let you know. a big hostage swap, biggest we've seen since the cold war. russian detainees paul whalen and evan gershkovich are in us custody, the president is soon to speak, up to 2 dozen individuals were part of this including a number of russian

dissidents, but we should also point out a number of russian terrorists are now part of this hostage swap including a guy who went on a shooting rampage in berlin some years back. we don't know the details of that. we know that 7 countries are involved in this. 26 individuals, two kids. as we wait for the president i want to go to mark meredith, what he's learning. >> reporter: we expect president biden to address this historic prisoner swap any moment now. looking at live pictures from the white house in the state dining room, we expect the president to be joined with family members of those whose release has been secured. this is an undertaking that has happened since president biden took office. he made it a top priority when he came in, the biggest headline, one case that was most well-known recently was the detailed mint of wall street journal reporter evan

gershkovich, they will offer whatever resources they can to make sure he's going to to have time to recover. wh saw was one of the president's aids making remarks on the podium. an indication we are getting close. we expect senior white house officials will answer questions directly from the press like the national security adviser and others should be speaking from the white house briefing room a little later this afternoon but the white house is also saying they realize this will be seen as historic, the largest since the end of the cold war and us relationship, president biden approaching the podium. >> president biden: everybody, good afternoon. this is a very good afternoon, very good afternoon. today we are bringing home paul, evan, also vladimir, one american green card holder, all

four have been imprisoned unjustly in russia. paul for nearly six years, vladimir since 2022, evan since march 2023, russian authorities arrested them, convicted them in the show trials and sentenced them to long prison terms with no legitimate reason whatsoever, none. paul, a former marine who was in russia for a wedding, evan a journalist from russia in russia was in russia, assigned by the wall street journal. all three falsely accused of being spies and vladimir, russian citizen by birth holds an american green card. pulitzer prize-winning journalist who was a pallbearer at my friend john mccain's funeral with me. he spoke out against vladimir putin's regime and for that was

convicted of treason. but now, the deal is over and they are free. moments ago, the families we could've on telephone from the oval office. they are out of russia. they were flown to turkey and soon they will be wheels up on the way home to see their families. this is an incredible relief for all the family members gathered here. relief to the friends and colleagues across the country who have been praying for this day for a long time. a deal that made this possible was a feat of diplomacy and friendship, friendship, multiple countries helped get this done, they joined a difficult, complex negotiation at my request. i personally thank them all again and thank the person and thank them again, all told russia released 16 prisoners, 8 russians remain held in the

west will be sent home as well. these 16 prisoners from russia include four americans, 5 germans, 7 russian citizens who are political prisoners in their own country. one of those russians runs a human rights organization which won a nobel prize in 2022. a putin threw him in prison for voicing opposition to the war in ukraine. four others worked with the political opposition leader who died in prison this year, now they can live safely abroad and continue their work advocating for democracy if they so choose. this would not have been possible without our allies, germany, poland, slovenia and turkey, they all stepped up and stood with us, they stood with us and they made bold and brave decisions with prisoners being held in their countries were

justifiably being held to get americans home. anyone who questions whether allies matter, they do. they matter. today is a powerful example of why it's vital to have friends in this world, friends you can trust, work with and depend upon especially in matters of great consequence and sensitivity like this. our alliances make our people safer and we begin to see that again today. let me say this. it says a lot about the united states that we worked to free americans who were unjustly held around the world but it also says a lot about us that this deal includes the release of russian political prisoners. they stood up for democracy and human rights. their own leaders put them in prison, the united states help secure their release as well. that is who we are in the united states. we stand for freedom, liberty, justice not only for our own

people but for others as well. that is why all americans can take pride in what we've achieved today. i want to thank everyone in my administration who helped make this happen. our work did not start on day one which it started before day one during the transition i instructed our national security team to dig into all the cases of hostages being wrongfully detained, we inherited from the prior administration. we want to make sure we hit the ground running. we did. as of today my administration has brought home 70 americans who were wrongfully detained and held hostage abroad. many since before i took office, additionally you should and executive order in 2022 authorizing penalties like sanctions and travel bands on those who hold americans against their will. my state department is introduced new warnings for

americans about the risk of being wrongfully detained by a foreign government. deals like this will come with tough calls. there are never any guarantees. nothing matters more to me than protecting americans at home and abroad. we will continue to work for the release of all wrongfully detained americans around the world leader let me end where i began, with paul, evan, allison, and vladimir, and their families. they never gave up hope. i can't imagine what they have been through. this lady right here, all kidding aside, can't imagine their joy right now. they are home. tomorrow is a big day, 13th birthday. we know we have a tradition of sinking happy birthday.

ready, all of you? happy birthday to you ♪ happy birthday to you ♪ happy birthday dear miriam ♪ happy birthday to you ♪ your, no serious -- god love you. she is allison's daughter. now she gets to celebrate with her mom. that's what this is all about, families. able to be together. like they should have been all along. i want to thank you again to everyone who did their part. in just a few hours we welcome home our fellow americans, looking forward to that. we will get that done. so thank you thank you thank you, and it is a good day. >> what do you say when they answer the phone on the other side? >> they said welcome almost home.

>> the abductors states taking more americans to get more americans, how do you end these perverse incentives? >> advise people not to go certain places. tell them what is at risk, what is at stake. >> you speak took the complexity of working with six countries. >> president biden: i will do this later in the week. i particularly go a great sense of gratitude to the chancellor. the demands they were making to me required me to get significant concessions germany since they concluded they could not do it because of a personal question but everyone stepped up, slovenian stepped up, turkey stepped up and it matters to have relationships.

it really does. these things matter. part me? >> could this improve relations with russia and germany for the prisoner exchange deal? >> as my sister might say, your lips to god's year. >> are you willing to speak with putin? >> i don't need to speak with vladimir putin. >> how do you make the decision? >> i got home innocent people? all right. >> are you speaking with other leaders about this? are you speaking with other leaders about this? >> i've spoken to all the leaders about this. look. you've heard me say this before. and i mean it.

it is a proposition, families are the beginning, the middle and the end. blood of my blood, bone of my bones. i can think of nothing more consequential. than having last family, in a different way, not knowing what has happened, the circumstances, it matters. >> in response for their cooperation? -- donald trump said repeatedly he could have gotten the hostages out without giving anything in exchange. what do you say to donald trump? >> why didn't he do it when he was president? neil: a partings anger regarding his predecessor and why he didn't get a couple of these guys out when he was president?

we should keep in mind wall street journal reporter evan gershkovich was taken during the biden presidency. this is a massive hostage swap, 26 individuals from 7 countries including the united states and germany, norway, russia and belarus, we are also learning some details about how this all went down. there were seven planes involved here shepherding all these individuals including evan gershkovich and paul whelen, seven planes, two from the united states taken to and kara, turkey, and one plane from each of these countries, germany, poland, slovenia, norway and russia. we've never seen anything like this, not in the britney

greiner release, we have also not seen as of this date the details of some of the other bad guys that were released to satisfy vladimir putin's demands including a hit man convicted of murder in a broad daylight attack in berlin in 2021 but he was a hitman, going to be in jail the rest of his life. these are the packeds you make. the breadth of this and the nations involved in this is something we've not seen since the earliest days of the cold war. david asman knows a lot of these players especially evan gershkovich. it was all done in secret until now.

>> for on the political divide, sorry to see some politics slip into that but thank god these americans are coming home. one thing i take issue with, the president was asked what he could do to stop it in the future, more people not to go there. evan was there, he knew the risks, his parents from the old soviet union, he knew what vladimir putin was capable of. and many journalists have died and he didn't write an article, it was not an article meant to be critical of the vladimir putin regime. there was another journalist who was the editor of forbes doing exactly the same thing, he wrote a piece about economic

corruption and a lot of people link vladimir putin to his murder on the streets of -- and and yesterday, he was given a plea deal. he is the guy who took credit for the beheading of daniel pearl. these journalists, we forget how dangerous it is to tell the truth, these journalists know what their risks are, they go to dangerous places despite the risk. they have a reverence for the truth. that's why we have a first amendment. we should emphasize that, how important it is to have a first amendment here because a lot of

countries don't have it and a lot of good reporters go there despite the risks. neil: you might be noticing you would think the markets would be celebrating something like this, they are much more focused not so much on hostages released but recession fears that have been released as well and slow down fears are gripping the market. whether this is overdone is anyone's guess, in bonds, treasury notes and bonds are seeing lower, and this is 5%. treasuries are a place to go for security. and it is a safe investment. it is about protecting what we

have. an. the 10 year is one of those mechanisms that are attached to mortgage rates, 30 year fixed. it is going down. mortgage rates going down. it's little solace to investors watching their investments go. they are not happy. that's the essence of the market. much more after this. the power of the swing. the speed of the flight. tthe power of the swing.t. the speed of the flight. the precision of the putt.

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does not want the american

public to see what these individuals have to say. we need a day in court and we need a hearing. you cannot put these individuals away without hearing what they have to say. part of the plea deal includes a stipulation that the nine over 11 families get to question the three alleged planners of 911. they will appear before the us military commission at guantanamo bay, overseeing the cases in the coming days, where they will formally enter their guilty pleas. neil jennifer, again. you touched on at the outset here the wonderful news about this hostage swap today, even though the details of that are still we're still waiting on and the timing of this plea deal, i mean, just coincidental or what? i think it was. i mean, sometimes that seems hard to believe, given the timing, but i think that we had been expecting that this gitmo case, they were moving in this direction. this has been some time coming. i think they'd

like to have it wrapped up before the next anniversary of nine over 11. and so this has been in the works for almost two years. neal got it. all right, jennifer, thank you very much. great reporting as usual, my friend. i want to go back to mario veneruso. he's been looking at these markets that have picked up some selling steam, having nothing to do with the good news about, you know, hostages released. everyone is very happy about that. but i guess the market is more concerned about old slow down forces released that they don't really like. i'm just wondering what's what's got stuck in their craw here. yeah you're right neil, great news with the hostages. bad news with the market here. so we're seeing a sell off across wall street. and that's led by tech right now. there's fears that powell is too little too late. although we're having strong gains throughout the year with the market. there were some numbers that came out this morning ism numbers as well as bank of england cutting. and at this point i think we're

starting to see a little bit of a shift within the overall market. if we look at last month, the month of july, which was pretty interesting, it was, as, thomas lee says, a fun strat. it's going to be the summer of small caps. you started to see these mega cap stocks a little profit taking taken off the place and going into more small caps. but if you look at all three indexes, absolutely. we have a little bit of a sell off today and that's really driven to with a flight to safety, you're starting to see money come out of the stock market equities and you're starting to see it go into fixed income. if you look at a ten year treasury, we just broke a key level which is 4% on the ten year. so we're starting to see a flight to safety. if you look at commodities more specifically gold, which is also another flight to safety trade, gold is actually up as of today. so you're starting to see investors take a little bit a little bit of profits and

whether we're too late to the game, and we're going to have a weakening economy. and as i mentioned earlier, we're either going to be in the wind of recession or the sunshine of summer is yet to be determined. but there's, you know, they're starting to see some cracks within the economic data that says, hey, you know what? maybe, perhaps be a little bit defensive right now. seasonality we're going into a tough time dog days of summer. and then you got september and october, where it's typically a slower time and a time where it's volatile in the market. and we're seeing the vix pick up today. so all this is making sense to me. it's aligning with my investment thesis. and if i was an investor i'd be properly diversified. typically in my portfolios i manage money for a living for institutions individuals i like to take a diversified approach, have different asset classes. and it's days like today where you take that defensive approach and you sleep a little bit more peacefully at night. now it's yet to be determined if this is

going to manifest into something more, but the data is alarming as of today. all right. we'll watch it very closely. my friend mario veneruso. following that, we should also posit here that this is august. and august tends to be a problematic month for the markets. we can remember the tide bot of a selloff that occurred in the late 1990s. that was long before this network came, came to fruition. we also were following back in those days, the russian ruble up the sell off as it was getting devalued, and the markets were getting punched worldwide. we come through these things, but august is a month. we see a lot of these things, and then there's september and then there's october. which of course has a reputation for being the worst of the months. but august actually is. but again, volatility probably is in order. what is remarkable about today's development, my friends, is we started out so strongly. for example, nvidia started the day up almost 10%. it is now down about 4%. the nasdaq was up close to 3%. it is now sliding close to 2%. so this is a sort of a sybil like

reaction to extremes. whether it was justified with the economic slowdown. news. we got a minor spike in jobless claims and ism manufacturing index that showed a slowing but far from tanking economy or construction spending. yes. for the, falling for the second straight month, but still in the aggregate, a very strong, again, i don't want to make this seem like oil is, you know, ice cream and roses. but the fact of the matter is, some of the same data that was out there before and the markets ignored, they focused on today, whether that was an excuse to pounce and sell and maybe start a month off. that's normally worrisome. and an even more, well, defensive manner. i'm not smart enough to know outside of this. i'm old enough to know i've seen it before. we're seeing it again. we get through it after this. you know, if you

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from president biden. more on the hostage release today. the biggest one we've seen, and as far as an exchange of hostages since the early stages of the cold war, he was not talking about the markets or the sudden renewed fears of recession. we haven't heard donald trump say anything fears of recession, haven't heard donald trump say anything. not long ago the market was chasing record after record. the market is excited about him coming into power. it's not that simple and a lot of things at this stage in a market year and what the federal reserve is thinking or the interest rate but it is not universal but we are following how they are handling things. in the case of donald trump he has been warning the guy he refers to president biden as, if the selloff is a reflection

of fears like that being realized, it is open season the rest of the election year. some amaga fan state is playing out like in 2008 and we were having, and that laid the way for the opposition party. barack obama democrats easily thinking john mccain and republicans and getting back the white house, very big difference. i hasten to add, i reminder my friends, edward lawrence is following these developers and knows a thing or two, sometimes it will rhyme a little bit. we are hearing the slowdown, even worse, meltdown as we kick off the problematic month of august. >> donald trump saying a rate

cut would be political if it came before the election. president biden not weighing in on that but yesterday the federal reserve announced a rate cut in september and that's what the markets wanted. the manufacturing number, the market selloff, is an interesting dynamic, and they are hinting it won't be a rate cut in september, could be politically motivated. some critics of the federal reserve chairman saying they were data focused, ask ed him yesterday why not cut through the meeting in july? listen to this. >> there was a real discussion back-and-forth what the case

would be for this meeting, a strong majority supported, strong sense of committee, a conversation we had certainly. >> reporter: the feeling is the data is showing it's appropriate to move toward the rate cut. that is what markets would like to see. what he did not say is if it starts a series of rate cuts and that's going to be interesting to parse out because we've heard from the beginning of this year what six rate cuts the markets thought we were going to have, we've been hearing one rate cut. it will be interesting to see what happens after september. neil: that you have to wonder, the box the fed find itself in if it were to wait until september, some might say the whole world is falling apart, jerome powell is in an encampment situation, the possibility of an infra-cut, doing it before a meeting but that also would raise hackles. >> exactly.

interesting the fed focus changed, they are focused on inflation. they talk about the uncertainty in the job market, we see unemployment rate grow, 10,000 jobs are going to shed. we will hear that in the earnings calls, earnings reports and that can move quickly. interesting the pivot that they had. neil: lee can connect the boring world of finance. one thing i characterize in usa today, the market is realizing there are problems. that might be re-mature -- premature but that was a good

take on this paradox, numbers look good and we don't feel that good. >> there will be so many people, the market is doing well when everyone is feeling not so well and underlying conditions, a different story playing out. an opportunity for donald trump to pivot his campaign once again, an issue where he really excels and that's on the economy. he promises what's going to be happening and talk about the solution. it is time to focus on the number one issue. fewer than one in 5 voters feel they are better off today than they were a few years ago and there's a time for reassurance and these moments of volatility

can shape people for different conversation to be happening. neil: what an election opponent might do or those who represent the party, it's a delicate balance. >> you don't overreact to a single moment in time. the economy is something people are focused on, to make us feel more secure. neil: and the dow is down, interest rates are tumbling. let's get the latest from jackie deangelis? jackie: i am jackie deangelis. taylor: i am taylor riggs. brian: i am brian brenberg, welcome to "the big mone